Registered No.'280134 i U Ba Khin Memorial Trust Accounts For the ear ended 31 December 2024
i U Ba Khin Memorial Trust Accounts For the ear ended 31 December 2024 INDEX Page Charity Information Report of the Independent Examiner Slalement of Financial Activities Balance Sheet Slalement of Cashflows Notes to the Accounts 6-11
Page 1 Charity Information Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 Trustees David Forbes Borne Kyaw Kyaw Chittin Arabella Lilian Virginia Delahunly Kevin Gerald Delahunty Amitsbh Dwivedi Kedar Nath Dwivedi Kaye Frances Hulena Joseph Aloisius Joosten Virginia Cunynhame Judkins Simon Jughard Theres Dora Keller Roy Millman Franz Chrislof Neuner Nicola Sally Newion Roger Slanz Newton (Re-appointed 11 August 2024) Neil Paviti William Pruitt Oliver Waterhouse Christian Karl Ernst Wunschik Re Istered Offlce: Splatts House, Heddington, Calne, Wiltshire, SN11 OPE Inde endent Examiners James Gare FCA Monahans Hermes House. Fire Fly Avenue. Swindon SN2 2GA Re istered Number: 280134
Page 2 Report of the Independent Examiner Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 Independent Examlnerfs Report to the Trustees of the Sayagyl U Ba Khln MemorSal Trust I report lo the charity Iruslees on my examination of the accounts of the charity for the year ended 31 December 24, which comprise the statement of financial actimlies, the balance sheet and the notes to the financial statements. Respective responsibilities of trustees and examiner As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Act,). 11 is my responsibility to.. examine the accounts under section 143 of the 2011 Act to follow the prOdureS laid down in the general Directions given by the Charity Commission lunder section 145(5llb) of the Charities Act, and to stale whether particular matters have come lo my attention. Basis of Independent Examinerfs Statement Since the ch8rity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l a member of ICAEW, which is one of the listed bodies. My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.11 also includes consideration of any unusLJal items or disclosures in the accounts, and seeking explanations from the Iruslees concerning any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'lrue and fair, view and the report is limited to those mallers set out in the statement below. Independent Examinerfs Statement In connection with my examination, no material matters have come lo my attention which gives me cause lo believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. James Gare FCA Monahans Hermes House, Fire Fly Avenue Swindon SN2 2GA Date: 17 September 2025
Page 3 Statement of Financial Activities Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 Unrestricted Desi nated Restricted Total Funds Funds Funds 31.12.24 INCOME AND ENDOWMENTS FROM: Charitable activities Donations for courses Donations for publications Donations and Legacies Donations Donations Pagoda & special projects Legacies Legacies Pagoda & Special Projects Investments Interest received Other Miscellaneous Income Total Income 131,979 131,979 4,225 4,225 110,901 90,119 49,449 312,318 64,589 265,609 49,449 318,000 5,682 7,593 10,413 4,099 22,105 100 256,255 100 791,467 466,524 68,688 EXPENDITURE ON: 1.13 250,816 CHARITABLE ACTIVITIES 12,215 Support costs.. Courses Water, rates, heat & light Insuran Office Travel Maintenance Depreciation Publications Finance costs Governance costs Donation costs Loss on disposal assets Other resources expended Total Expenditure 130,589 53,883 8,649 7,607 12,633 31,227 23,524 1,338 3,893 131,927 57,776 8,649 7,757 29,317 62,581 40,526 11,032 228 2,983 21,774 150 119 15,400 6,419 11,032 28 39 21,655 16,565 15,954 10,583 200 2,944 119 2,965 274.340 2,965 377.515 60.073 43.102 Net income lexpenditurel 118,0851 406,451 25,586 413,952 Transfers between funds 3,000 6,000 3,000 Net movement in funds 115,0851 400,451 28,586 413,952 Fund balances bought forward 574,497 785,366 529,711 1,889,574 Fund balances carried forward 559,412 1,185,817 558,297 2,303,526
Page 4 Balance Sheet Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 Note 31.12.24 31.12.23 Fixed Assets Tangible Fixed Assets 877,657 907,729 Net Currgnt Assets Current Assets Debtors IPrepaymenls & others) Income tax recoverable on Gift Bank balances and cash 7,342 21,561 1,410,057 1,438,960 10,822 31,608 963,094 1,005,524 Les5 Current Liabilities Creditors . Amounts fallin due within one ear Trade creditors Accruals and deferrred income 5,221 7,870 13,091 16,935 6,744 23,679 Net Currgnt AssotsllLiabilities) 1425 869 981845 Total Assets Lgss Currant Liabilities 2 303 526 1 889 574 Net Assets 2,303,526 1,889,574 Funds Unreslricled General Fund Designated Funds Designated Funds - Property Reserve Restricted Funds Total Funds 559.412 1,075,817 110,000 558,297 2,303,526 574,497 675,366 110,000 529,711 1,889,574 Approved by the trustees on 10 August 2025 and Signed on their behalf by.. K F Hulena -ustee N S Newton I rustee 1210812025 Dated..
Page 5 Statement of Cashflows For the year ended 31 December 2024 2024 2023 Cash flows from operating activities: Net cash provided by (used inl operating activities 479,522 40,083 Cash flows from investing activities- Interest income Sales tangible fixed assets Purchase of tangible fixed assets Net cash provided by (used inl investing activities 122,1051 111,1061 10,454 32,559 10,860 21,966 Cash flows from flnanclng aetlvltles Net cash provided by financing activities Change in cash and cash equivalents in the year 446,963 18,117 Cash and cash equivalents at the beginning of the year 963,094 944,977 Total cash and cash equlvalents at the end of the year 1,410,057 963,094 Reconciliation of net movomgnt in funds to net cash flow from o eratin activitiOS 2024 2023 Net incomel{expendituro) for the year Adjustments for- Add back depreciation charges Add back lossllgainl on disposal assets Deduct interest income IlncreasellDecrease in debtors Increasel{Decreasel in creditors Net cash used In operating activitles 413,952 129,2901 40,526 40,455 691 11,106 11,824 5,297 40,083 22,105 13,527 10,588 479,522
Page 6 NOTES TO THE ACCOUNTS For the year ended 31 December 2024 Accountin Policies The followng accounting policies have been used consistently in dealing with items, which are considered material in relation to the Trust's accounts. {al Basis of accounting The charity constitutes 8 public benefit entity as defined by FRS 102. The financial ststemenls have been prepared in acwrdance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in Odober 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006, and UK Generally Accepted Accounting Practice. The financial slalements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Ststemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been wilhdr8wn. The financial slalements are prepared on a going concern basis, under the historical cost convention, modified to include certain items al fair value. The financial statements are prepared in slerfing which is the functional currency of the charity and rounded to Ihe nearest pound. There are no significant areas of judgements or key sources of estimation uncertainly. The Iruslees consider that there are no material uncertainties about the Charitys ability lo continue {bl Legal status of the charity The charity is an unincorporated trust conslituled by a trust deed. The address of the registered office is given in the charity information page of these financial slalements. The nature of the charity's operations and principal activities are given in the Trustees, report {cl Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, il is probable that the income will be received and the amount can be measured reliably. Interest on funds held on deposit is included when reivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. {dl Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis Consislenl with the use of resources.
Page 7 {el Taxation The charity is exempt from tax on its charitable activities. {f) Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Iruslees. Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular reslricled purposes. Designated funds have been set up in the past by the trustees for the uses indicated in note 9. Sometimes when donors ask for suggestions as to where they might direct their donations they will be notified of these funds as options and may select one of them. These funds can be used for a wide range of activities within the designation, at the discretion of the trustees. Further explanation of the nature and purpose of each fund is included in the notes to the financial slalements. {gl Debtors Prepayments are valued at the amount prepaid net of any trade discounts due. Other debtors are recognised al the settlement amount due. {hl Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with 8 short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. {il Crgditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a Ul Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequenlly measured al their selllemenl value. {kl Depreciation Depreciation has been provided on fixed assets so as to write off the cost of tangible fixed assets by equal annual inslalmenls over their estimated useful lives at the following rates.. Freehold land Freehold buildings Pagoda Fixtures, fittings & equipment Motor vehicles 20/. loo_250/, 200/0 {11 Fixed Assets Freehold land and buildings, the Pagoda and new residence self build project are included in the accounts al cost, comprising materials, labour, overhead expenses and interest incurred during the ourse of construction. Fixed assets costing more than £250 are capilalised. {ml Foreign Currencies Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the dale of transaction. Assets and liabilities are translated at the rate of exchange at the year end.
Page 8
Notes to the Financial Statements 2 to 5
Sayagyi U Ba Khin Memorial Trust
For the year ended 31 December 2024
2. The number of members of the Sayagyi U Ba Khin Order of Lay Workers for the period was ten (no change from 2023). Nine of them received an annual stipend of £1,200 and other small benefits (One of them is a volunteer). Those with family received annual travel costs to visit family members.
| 3. Related party transactions and transactions with trustees Related party transactions Total donations from trustees (all without conditions) Total donations for courses from trustees Trustee remuneration and reimbursed expenses 4. Investment income Interest received |
31.12.24 £ nil 108,151 10,684 nil |
31.12.23 | |
|---|---|---|---|
| £ nil 115,303 9,775 nil |
|||
| 31.12.24 £ |
31.12.23 | ||
| £ | |||
| 22,105 | 11,106 |
5. Fixed Assets
| Fixed Assets | ||||||||
|---|---|---|---|---|---|---|---|---|
| COST Land & buildings Unrestricted Land & buildings Restricted Land & buildings Designated Fixtures, fittings & equipment Unrestricted Fixtures, fittings & equipment Restricted Fixtures, fittings & equipment Designated Motor vehicles Unrestricted Motor vehicles Restricted DEPRECIATION Land & buildings Unrestricted Land & buildings Restricted Land & buildings Designated Fixtures, fittings & equipment Unrestricted Fixtures, fittings & equipment Restricted Fixtures, fittings & equipment Designated Motor vehicles Unrestricted Motor vehicles Restricted Net Book Value |
As at 01.01.24 £ 890,205 509,751 172,778 117,614 20,963 51,444 22,250 18,788 1,803,793 As at 01.01.24 £ 491,427 220,421 15,242 90,041 5,627 38,062 22,250 12,994 896,064 907,729 |
Additions £ - - - 3,818 6,636 - - |
Disposals/ Adjustments £ - - - - - - - Disposals/ Adjustments £ - - - - - - - |
As at 31.12.24 £ 890,205 509,751 172,778 121,432 27,599 51,444 22,250 18,788 |
||||
| 10,454 | 1,814,247 | |||||||
| Charge For the Year £ 17,583 6,541 3,456 5,941 2,163 2,963 - 1,879 |
As at 31.12.24 £ 509,010 226,962 18,698 95,982 7,790 41,025 22,250 14,873 |
|||||||
| 40,526 | 936,590 | |||||||
| 877,657 |
Page g Notes to the Financial Statements 6 to 7 Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 6. Analysis of Net Assets betweon Funds Fixed Assets Net Current Assets Total Restricted funds Total Restricted funds 306,513 251,784 558,297 Designated funds Total Designated funds 164.497 1.021.320 1,185.817 Unrestricted funds Total Unrestricted funds 406,647 152,765 559.412 877.657 1.425.869 2,303.526 Movement in Funds Balance 01.01.24 Balance 31.12.24 Incomo and Transfgrs Unrestricted General Funds 574,497 256,255 274,340 3,000 559,412 Dasignatad Funds John Boughey Legacy fund Publications fund Park fund Bhante requisites fund Offering fund Ordination fund Kitchen Equipment fund Orchid House fund Mowerfund Pagoda & Special Projects fund Dining soundproof fund MS Demise fund Property Reserve 312,318 4,456 120 4,457 8,179 53,137 815 312,318 5.161 1241 2,675 7,953 110,528 4,109 5.806 12,249 148 2,627 11,058 59,083 3,383 6,039 1,108 453,129 111.5441 12921 {4,4091 111.2841 {1,6921 1891 12331 {1,1081 122.3831 55,392 486,138 126,542 110,000 785,366 27,650 {7,0391 16,0001 141,153 110,000 466.524 1,185.817 60.073 6.000 R8strict8d funds Pagoda fund Barn & New Land fund Verandah fund 3phase fund Solar fund Car fund Snr Teacher Mission fund Kitchen refurb fund MH Windows Tarmac drive fund 107,515 182,700 {6,5421 100,973 182.700 46,223 5,792 150,670 18,386 18,650 225 529,711 3,981 50,204 3,914 189,220 20,892 10,619 225 558.297 {1,8781 116,5651 {2,1631 115,9541 55,115 1,669 7,923 3.000 68,688 43,102 3.000 Total Funds 1.889,574 791.467 377.515 Included in Designated funds is a property reserve of £110,000 for future repairs Transfer between funds A year end transfer from the Mother Sayamagyi Demise fund £6,000 lo the General Fund of £3,000 & lo the Reslricled kitchen refurb fund £3,000 2,303.526
Page 10 Notes to the Financial Statements 8-10 Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 8. Purpose of Restricted Funds (al Pagoda Fund - for the present and future upgrading. improvement, repairs and maintenance of the UK Pagoda. 11 also includes the carrying value of the Pagoda. {bl Bam & New Land fund - purchase and landscaping of approximately 1800 square metres of farmland on the southern boundary of the existing property to secure the Centre boundaries and obtain release of Ihird-paty rights of way. {cl Car fund - for purchase of a new car to replace the current model when it reaches the end of its useful lrfe. {dl Tarmac drive fund - for resurfacing the road adjacent to the barn & new and land. {ol Senior Teacher's mission fund - for promoting Sayagyi U Ba Khin's and Mother Sayamagyi's tradition of the Buddha Dhamma by supporting the establishment and growth of the mission as advised by the Senior Teacher, focusing in particular, (but not exdusivelyl on activities in or for countries where groups of students have been less active. {fj Kitchen refurb fund - for the purchase of kitchen appliances . {gl Vorandah Fund- for creating a comfortable extemal area for students to sit and eat outside. {hl 3phase Fund- to increase the electricity capacity at the centre as part of long-term planning. {il Solar Fund - lo improve future energy resilience for the running of the centre and decrease the dependence on the fossil fuels {kl MH windows Fund - window replacement program to improve energy retention
Page11 Notes to the Financial Statements 8-10 Sayagyi U Ba Khin Memorial Trust For the year ended 31 December 2024 9. Purpose of Designated Funds The following funds have been sel up in the past by the trustees and designated for the uses indicated. Sometimes when donors ask for suggestions as to where they might direct their donations they will be notified of these funds as options and may select one of them. These funds can be used for a wide range of activities within the designation, at the discretion of the Iruslees {al Publications Fund for the printing and distribution of publications in-house and for the purchase and resale of Buddhist publications lo students. Ibl Offering Fund - for the costs associated with the provision of floral offerings on Buddhist festival days both by purchase and by cultivation on site. {cl Ordinatlon - for the costs of selling up and running ordination courses at the centre and all associated Costs. {dl Kitchen Equipment Fund - for the purchase of kitchen equipment. {el Orchld House- for maintenance of the Orchid House. {fj Mower Fund - for the purchase of a new mower to replace the current model, which is approximately 15 years old. {gl Pagoda and Special Projects - for particularly'merilorious objects" in the Buddhist sense. {hl Bhante Requlsltes Fund - lo cover the cost of requisites for Buddhist Monks associated with the Sayagy U Ba Khin tradition. {il Park Fund - for meadow park improvement. ljl Mother Sayamagyl's Demlse Fund - for supporting projects and special events associated with the Sayagyi U Ba Khin ISUBKI tradition including giving Dana to Pagodas and the Sangha in Burma and elsewhere and supporting the other IMC, trusts and 8ssocialions. {kl Dining Room soundproofing - for improving the acoustics in the dining room. {11 John Boughey Legacy Fund- unrestrirted gift received from John Boughey estate 10. Comparative statement of financial activities In the year ended 31 December 2023 all income and expenditure was unrestricted other than income & endowments £81,513 and charitsble expenditure of £109,826. Restricted funds al 31 December 2023 of £529,711 were held as £310,460 fixed assets and £219,251 as net current assets.
SAYAGYI U BA KHIN MENIORIAL TRUST Registered charitTr number 280134 Trustee5 report for the tinancial period l.1.24- 31.12.24 REFERENCE AND ADMILYISTIL4TIVE DETAILS Charity registration: The charity iq registered as the Sayagyi U Ba Khin Memorial Trust (the Charity). The registered number is 280134. Address: The Charity is based at the Jnternational Meditation Centre (known as 'TMC UK,), Splalts House, Heddington, Calne, Wiltshire SNI I OPE ("the Centre"). Charity Trustees: A list of the cbarity truslccs for thc financial ycar is sct out in Appcndix l. STRUCTURE GOVERLYANCE AIYD MANAGEMENT The Constitution The vonstilulion of the Charity is sel out iii a Declaration of TNSI ("Trust Deed") dated 18 March 1980, as amended by Special Resolution dated 19.11.2017 and a re.qolution as to procedure dated 07.08.22. The Teachers From the foundation of The Centre in 1980, until 28, January 2017, the Senior Teacher of our tradition of meditation was Mother Sayamagyi Daw Mya Thwin. Mother Sayamagyi was the leading disciple in Burma ot the late Sayagyi U Ba Khin. She became the Senior Teacher of the tradition whcn hc PdSScd away in 1971 and rcmaincd so until hcr dcmisc in 2017. Mr Rogcr Bischoff is now the Scnior Tcachcr and successor to Mothcr Sayamagyi. During 2024, Mr Bisehoff has remained resident at the Centre and taught ¢ouises regularly at the Centre, while also leading on-line courses for eqlablished students overseas and travelling to support other groups of meditators overseas. The Senior Teacher, as spiritual leader, makes all decisions in connection with the Tea¢hing, the conduct of tt]e courses and membership of the Order. The Truslees The tiustees ale all established students of Theravada Buddhism as taught by Sayagyi U Ba Khin and Mother Sayamagyi. Appointments are made in conqultation with the Senior Teacher. The power of appointing trustees resides with the trustees for the time being. New trustees with suitable skills arc recruited from timc to tim¢ from among established studcnt5 of the Sayagyi U Ba Khin trddition who meditrdle regularly. Roger Newton was appointed as an additional trustee in August 2024. All trustees recei.¢ basic training via the Charity Cummission website. The Trust Secretary and Finance Director keep the trustees up to dale in charity and other laws and accoun(ancy rules applicable to the Charity's aCtiltIes. The Charity's property is held by the trustees for the lime being of the charity. The charity has considered incorporating the tn]stees under Part 12 of the Charities Act 2011 in order to simplify contracting and propcty owncrship. For thc timc bcing this has not bccn takcn forward. Trust Meetings Trust Meetingg are held on average every three months, with additional meetings being called where needed. Centre personnel (who are members of the Sayagyi U Ba Khin Order of Lay Workers) attend trust Ineetings where possible. AnnualRvport Page l of10
The principal functions of the meetings are.. Establishing policy and authorising expenditure. Considering the monthly financial reports and ¢omp<iring varian¢es of income and expenditure against budget- considering remedial action where necessary. Receiving reports from the committees and commenting where necessary. Long lem) planiiing and strategy Finance Controls over Expenditure Thc finance budgct is drawn up and approved by the Trust at the beginning of the year. Financial perforn7ce is n]ca5urcd throughout thc ycar against the budget and where circuinstccS changc significantly, this budget may be adjusted, and new targets sel. The Trust maintains rigorous guidelines for expenditure approvals and payments designed to ensure due diligence over expenditure of Charity donations in accordance with for their intended purpose. These guidelines clearly set out delegated approval levels and responsibilities. In excess of such Icvc15. dpproval can oiily bc agrccd by trustccs The Sayagyi U Ba Khin Order of Lay Workers (the 'Order') The day-to-day managemenl of the Centre and the courses held at the Centre are delegated to and carricd out by Ccntrc pcrsonncl, bcing thc mcmbcrs of thc Ordcr, lcd by thc Scnior Tcachcr. Up to Novcn]bcr 2024, there wcrc nine mcmbcrs of the Order. includin¥ the Scnior Teacher. In Noveimber, we wel¢omed a tenth meinber from the United Stales, for an initial period of one year. Centre personnel are resident full time at the Centre and perfom] e.ssential duties, while developing thcir own practicc of thc Buddha's Tcachings. Thc Scnior Tcachcr Icads all Ihc rctrcats, and thc remaining mcmbers assist th¥ teachers and managc the Centre and the Lourses. All members of the Order receive full bed and board and a sinall stipend, together with other bciicfit5 scl by the tru5tccs. Thc rcinuneration policy for incmbcrs of thc Ordcr has reinaincd unchanged for maiiy years. Committees Centre activities outside the courses were organised by the committees as in previous years. As in previous years, the objectives of the committees in the year were.. to support the Teacher and the Ordcr in running the Centre and its activities. to provide a management structure for delegation from and reporting to the tn]stees. to provide a vehicle for established students visiting or living around the Centre to provide voluntary service in an effective way (bearing in inind that such service is considered meritorious tor that person according to Buddhist principles). to share the responsibility of rL]nning the Centre and to obtain input from those with relevant skills. The committees were well supported throughout the year by established students living locally. One or two studcnts came from ovcrscas for longcr pcriods to scrvc and to meditatc. Thc principal coinmiltees cover catering, housekeeping, garden and grounds maintenance, buildings maintenance and IT..'publi¢ations. OBJECTIVES Objectives The objects of thc charity are set out in thc dcclaratioll of trust datcd 18th March 1980 as follows.. "to advance the Theravada Buddhist religion through promoting in accordance with tlie principlcs establishcd by Ihc lalc Sayagyi U Ba Khin the study and practice of the techniques of developing concentration insight and higher standards of morality as AnnualRvport Page 2 of10
originally taught by the Buddha through the public disqeminati(In generally of the teachings of the Buddha and in such other ways as the Trustees shall think fit" The spe¢ific objectives for 2024 were.. l. To ¢b]e thc ChilY lo continue its core activity of holding tcn-ddy residcntial rctreatS in the Theravada Buddhist Iradilion of Sayagyi U Ba Khin aiid Motlier Sayamagyi ('the Tradition,) and holding online courses for established students. 2. To improve the comfort and convenience for students and helpers at the Centre, by enhancing the facilities, where physically and financially possible. 3. To continue the medium-temi objectiveq of making the Centre more sustainable and cost-effective- particularly in temis of its energy generation and usage. Public Benefit Statement The charity trll8tee.q have complied with their duty to have due regard to the Charity Commission's guidance on public benefit in exercising its powers and duties. The retreats held at Ihe Centre are open lo people from all walks of life, irrespective of means or background. There is no charge for the Teaching. There is a suggested donation to cover the costs of food, accommodation and oihcr running costs during d tcn-day coursc. Thosc who arc unablc to pay the full ainounl Inay give wlialever they can afford. Safeguarding statemenl In our work with studcnts of mcditation, wc cndcavour at all timcs to minimisc risk to thc studcnts, in particular having rcgard lo thosc who may be particularly vulnerable, nlle]Y those under 18 andlor adults who may be at risk due to age, illness or disability. To this end the ¢harily has adopted a Safeguarding Policy which is made known lo all personnel at the centre and reviewed annually. ACTIVITIES In furtherance of its objectives, the regular activities of the charity are as follows.. Centre activities 4.1.1 Retreatslcourses Regular len-day residential retreats or courses in Theravada Buddhist meditation are held al the Centre, led by the Senior Teacher. The retreats dre open lo students from all cultural dnd religious baLkgrouiids, willing to approach the teachings with an open mind and to give the te¢hniqueq taught a fair trial. There is no ¢harge for the Teaching. There is a suggested donation to cover the Cost of food and accommodation. Those who are unable to donate the full amount give what they can afford. The meditation retreats, or courses, are based oli the practice of the Eightfold Noble Path, as laught by the Buddha, which can be divided into three parts. These are.. higher training in (l ) morality, {2) concentration and (3) wisdom. Morality is the comtnon denominator of all religions. At the Centre, studeiit8 observe the five precepts of refrainiiig from killing, stealing, sexual misconduct, lying and the use of drugs or intoxicants. By diligently observing this Inorality. the student develops purity of physical and verbal actions. Repeat students take an additional three precepts. Beginning with this base, training in concentration is taught (Anapana meditation mindfulness of breathing). Through learning to calm and control the mind during the first five days, the student quickly appreciates the advantages of a steady and balanced mind. AnnualRvport Page S of10
The third training in wisdoin or in.qight iq introdu¢ed through Vipassana meditation, which is practised throughout the remainder of the period. 4.1.2 Visits from local schools and college5 The charity eiicourages visils from lo¢al schools and colleges wanting to learn about the Buddha's Teachings and the activities at the Centre. 4.1.3 Lvleditation sessions for local students Local students are welcome to attend the daily group meditation sessions both during and between thc rctrcats. At normal timcs, numbcrs avcragc 25-30 at onc or n]orc of thc thrcc daily scssions and sonictimcs rise to 40 - 50 at weekeiids and on Buddhist fcslival days. Students from overseas sometimes come for longer periods, by arrangement, when circumstances pemiit. 4.1.4 Improvement and mainlenance of the Centre Ongoiiig mainleiiaiice and improvemenr of the Cenlre's buildings and grounds are Carried out by the maintenance team and the garden and grounds committee members. 4.1.5 Opportunities for voluntary service Lo¢al meditators are given the opportunity to qerve their teacherq and the studentq by helping with the catering and maintenance of the Centre grounds on a regular basis. Serving one's teachers arid hclping othcrs to mcditatc arc an important part of thc Buddhist way of lifc. Other actlvfities 4.2.1 Opportunitie5 for giving 'Dana' (donations} Students are given opportunities to honour and give Dana to Buddhist Pagodas and the Buddhist Sana a5 part of the Buddhist way of lifc, as Saydgyi U Ba Khin did in his days at the Ccntrc in Bum1a. 4.2.2 Supporting the 'mission' The Chlty diins to SUPPOrt the Sayagyi U Ba Khin 'mission' throughout the Weslem world. The Senior Teacher travels regularly to other Countries to lead meditation retreat.q, when invited by groups there running retreats in the Tradition. 4.2.3 Publications and IT At the end of each retreat al the Centre. publications by the Charity regarding the meditation and from other publishers about Buddhism are displayed for students to take if they are interested. 4.2.4 Newsletter and Jvebsite Two issues of the Newsletter are printed and distributed annually. A wcbsite for thc IntCrndtion&l Meditdtion Centre5 worldwidc is maint&incd from Ihc Ccntic, as well as a linked site for the Cenire itself. Other IMCS have their own sites linked lo the worldwide site. 4.2.5 Contaets other IMCS and groups Althougli they are independent legally and financially, the Charity aims to maintrdin contact and share infomiation and experience.q with other IMCS in Australia, USA, and Austria and other groupq of students of the Tradition. Many students attending the courses in the Centre are referred by the other lNICs and groups vice versa. ACHIEVEMENTS AND PERFORMATr4CE Courseslretreats Elcvcn tcn-day rcsidcntial rctreats for 5tudcnt5 of Theravada Buddhist meditation wcrc held during the year at the Ceiilre, led by the Senior Teacher. These Th'ere attended by a iolal of 634 students, AnnualRvport Page 4 of10
479 of whom attended for the full ten dayq and 155 for the first weekend. A tot<il of145 attended for the tirsttime. This compares to the tigures of 488 full time, 100 part-tsme and 154 'new' students in 2023 The Suggested donation to cover food and accommodation at the Centre was increased from £25 pcr day {£250 for tcn days} to £30 pcr day (£300 for tcn days) with cffcct from thc coursc starting in May. Onlinc courses for cstablishcd sludcnt5 continued lo bc held to coiiicidc with the 5chcdulcd courses al IMC. A total of 415 eslablished sliidenls allended online Courses in 2024, some ofwhom alteiided for the full ten days and some for the first weekend. Thi.q opportunity is much appreciated by those who arc unablc to travcl to thc Ccntrc, for whatevcr rcasoll. Performance against Objective No. I Attendance numberq both in perqon and online remained gteady compared with the previoiiq year. In June of 2024, IMC UK relaxed its Covid restrictions altogether, while reminding all those coming for courscs not to do so if thcy fccl at all uiiwcll bcforc Icaving homc. Volunteers As always, volunteers played a major role in the running of the Centre and its core activities. For cach of the courscs, there wcr¢ at least 10 volunteers helping members of the Order with cleaning and bed-making in preparation for the courses and supporting the Cooks with shopping, food preparation, dishwa.qhing and kitchen cleaning. In addition, a similar number of volunteerq helped with thc maintcnancc of thc grounds and vcgctablc and flowcr gardcns, with mowing, strimming, wccding, planliii¥, mulchiiig, wat¥ring, aiid pruning. Volunt¥ers also assist whcrc possible with maintenaiice of the equipment at the Centre- be il catering, gardening or other equipmeiit. Ti is not possible to evaluate in monetary lemis the contribution of volunteers to the functioning of the centre and the retreats. Suifice it to say that there would be a Substantial need for addiiional members of the Order andlor outside contractors, if this level of input from volunteers were not available. Thi5, in turn, Ivould doubtless neccssitatc a substantial increase in thc suggested donation for a l O-day course, which in lum would be likely to reduce the nuimber of sludenls able lo allend. Visits from local sch(bols and colleges We had visits from two primary school groups during the year, both with 20-30 pupils. They were learning about Buddliism al school for the first linie. The pupils were given a short introduction lo Theravada Buddhism and Anapana meditation, followed by a brief tour of the Centre and then refreshments. Supporting the 'mission' The Senior Teacher was able to make several overseas visits in 2024, to lead retreats at the invitation of, and financcd by, local group5 of Ineditators in the tradition of Sayagyi U Ba Khin and Mother Sayainagyi. These included visits lo USA, West Australia, Myaninar, Malaysia (for the Singapore students), Moldova and Ukraine for ten-day retreats and Romania for a long weekend. As ever, these visits were eiithusiastically received and well-atteiided. Many of the students from these retreats come to the UK for courses at IMC UK, after first attending a retreat in their own countries. Opportunities for gIng 'Dana' (donations) As ever, donations were received froin students of this tradilion from all over Ihe world, usually while attending a course at the Centre andlor on special days in the calendar of the tradition. Students attending virtual courses were also generous in giving donations. Many gave to the Pagoda and Special Proj¢cts fund. This is thought to be particularly m¢ritorious by the donor and funds are often given for this pUOSe in the name of someone who has recently passed away. A total of just under £50,(M)O was given towards this fund during the year. AnnualRvport Page.5 of10
Donations of approximatcly £25,000 wcrc rcccivcd for Mothcr Sayamagyi's Dcmisc Fund, much of whilh was to fund Ddnd for Ilic BudLlhis1 'San]d, {ordcr of Buddhist inonks} lu bc givcn in Myanmar in January on the demise anniversaries of Sayagyi U Ba Khin, Mother Sayamagyi and Sayagyi U Chit Tin. Approximately £11,500 was distributed to selccted monastcries and IMC Yangon for offcrings to monks and noviccs on thc dcmisc days. Thcsc monastcrics play an in)portant humanitarian role in their cominunity. In fotThulating our financial polieies in the context of Myanmar, we have taken note of the desire of FATF that "the flows of funds for humanitarian assistance, legitimate NGO activity and remittances are not disrupted" Scveral trustees and men]bers of the Order were able to attend the rc-dedication of the Pagoda at IMC Yangon. It was looking resplendent, following its refurbisliment and regilding, largely financed by donations given to IMC Austria for the Provision of materials, to which many donors had contributed via IMC UK. A substantial donation was again received to the travel costs of the Senior Teacher. The hosts pay for the basic costs. and the donation covers an upgrade on the longer flights. A very substantial gift of £318,000 was rcceived from thc estate of the late John Boughey. John had been a valued member of the Order of Lay Workers at the Centre for over 30 years until his demise in November 2023. A Legacy Fund has been set lip in his name, which will be used to fund appropriate projects, as deterniined by the trustees from time to time. Improvement and maintenance of IMC Performance against Objeclive tyo. 2 The following improvcments were made to thc Centre facilities to make them more comfortable, safer and more accessible for students and helpers al the cenlre.. 5.6.] The flooring in the kitchcn was rcplaced with a non-slip material designed for usc in coinmercial kitchens. This has proved very effective and much appreciated by the catering t¢ams. 5.6.2 The ladies, Dhamma Hall was improved in a number of ways to make it more comfortable and user-friendly for stt]dents. 5.6.3 A commercial dishwasher was installed in the kitchen lo help catering teams and volunteers with the high volume of washing up and also to improve hygiene standards. Performance against Objective No. 3 In September 2024, a proposal lo install solar panels on the roof of the barn fom]erly part of Splatts Farni was approved and a contractor nominated. One aspect of the selected design is that it will provide some electricity should a power cut occur. The Victron systern, which includes batteries, shows the best perfonnance in these situations. The whole system will be availablc at all times, although the noUn1 of electricity available will of course depend lo a large extent on the amount of sunshine at any given tiine. Publications 2nd IT PubliLalions rccomincnded to students after courses remaincd popular. 300 Lopies of Dhamma Texts by Sayagyi U Ba Kliin were reprinted, as were 300 copies of Selected Discourses of the Webu Sayadaw. 50 copies of the Jataka Tales were also purchased from Sri Lanka. Newsletter and website Two issues of the Newsletter were printed and distributed to the UK mailing list and to atyiliated centres for copying and distribution to their respective mailing lists. The global website for the Sayagyi U Ba Khin Tradition at.. hii q."Ili¥wiv.ub£1khin- vi aqqanainediiation.orn was kept updated with course inforn)ation worldwide, as was the Centre website.. www.intcrnationaliiicditatioiiLcntrc.or' As well as giving inforniation about the dates of retreats al each of the Centres, they also reproduce published Buddhist texts. These two rnedia are the main source of publicising our courses to old and new students alike. AnnualRvport Page 6 of10
FINANCIAL REVIEWS Ineome As always, all the activities of the charity during the year were funded by donations. Total income for thc ycar amountcd to £791,467 {comparcd with £499,652 in 2023), of which £256,255 was unrcslriLt¢d {cxiluding dcsignated). This coInpdres with £227,624 in 2023, an increasc of13 /0. Donations for thc general Nnning of thc Centrc increascd by £28,631. Income froin courscs saw an increase from 2023 of £13,606. The explanation is the change in the suggested contribution from £250 to £300 implemented in May 2024. The balance of £15,000 is the Increase in interest incomc and the transfcr of £5,682 from thc John BoU]cY Lcgacy fund Designated income increased by £276,009 from £190,515 in 2023 to £466,524 in 2024, due to the one-off donation of £312,318 from John Boughey's estate in 2023. This was offset by the reduction in doiiations for thc Pagoda & Special Projccts Fund (onc-off donation in 2023= £61,000) Restricted income was £68,688 in 2024, compared with £81,513 in 2023, the ¢hange is donations towardq the main house window repairs of £18,650 in 2023 were greater than the £7,532 received for this purpose in 2024. Expenditure Total expenditure for the period was £336,989 {ex¢luding depre¢ialion), compared with £488,487 in 2023. Total unrestricted expenditure (excluding designated expenditure and depreciation) was £250,816 (comparcd with £238,601 in 2023), an incrcasc of £12,215. Thc kcy arcas contributing to this were- Courses: £131,927, more studcnt5 TraTrel.. £29,317, travel by the Senior Teacher (covered by the donation of £50,000 given for this puOSe). Maintenance: £62,581 compared to £132,7(K) in 2023. Most of the difference relates to the £52.000 onc-off costs of con]plcting thc 3-phasc clcctricity upgradc in 2023. Publications: £11,032. Of this, thc printing of 300 copics of thc Wcbu Sayadaw's Discourscs cost L3,231; the reprinting uf Dhamma Tcxts Cost £1,574: Ihc purLhasc of 50 copies of Jataka Talcs cost £1,157. and the purchaqe of 36 volumes of Pali Texts.. £5,070. Governance Costs: £2,983. Donation Costs: £21,774. These include.. Costs associated with the provision of floral offerings on Buddhist festival days, both by purchase and cultivation on site, amounting to £10,245 (£10,097 in 2023). Costs of £11,409 donated to various Pagodas and the Buddhist Sangha in Myanmar. In 2023 this cost was £22,474 (Note.. in 2023 donation costs included a one-off transfer to IMC Austria of approximately £70,000 oli behalf of donations received for materials for the refurbishing of the IMC Myanmar Pagoda.) Other runlling costs were not materially different to those of the previous year. AnnualRvport Page Zof10
Cash balances The total cash hcld by thc Charity at thc cnd of thc financial year was £1,410,057. This figure is made up as follows.. Cash Balances by fund 31-Dec-24 classification General fund Senior Teacher Mission fund Tarmac drive fund Kitchen refurbishment fund Pagoda fund MH window fund Solar fund Property Reserve Pagoda & Special Projects fund 153,175 180,541 -225 1,084 129 10,619 49,204 110,000 326,079 unrcslrictcd restricted restricted rcstiictcd restricted restricted rcstrictcd designated designated Fll Mother Sayamagyi's Dcmise fund Ordination fund Offering fund Publications fund Kitchcn Equipmcnt fund Bhante iequisites fund John Boughey legacy fund Park fund 143,593 104,209 7,963 5,016 3,701 2,675 312,318 -24 designatcd desi¥ndted designated designated dcsignatcd designated designated designated NET CASH BALANCES £1.410.057 Cash balances increased by £446,963 in the year, primarily due to the of £318,000 from the estate of the late John Boughey. A healthy level of cash reserves remained at the end of the year. Banking The Charity continues to ensure as far as possible that investment deposits held with any single banking group stay within the FSCS limit of £85,000. The cash balances in the Current accounts, namely, the C.AF, Santander and HSBC bank accounts have been allowed to exceed this limit throUoUt the year. Nevertheless, this is not considered lo expose the Trust cash assets to any significant risk. The charity earncd interest of £22.105, reflecting the increases in the Bank of England base rate. Bank Charges for the year were £228. Thcrc arc no asscls whosc valuc is matcrially diffcrcT)t to thosc statcd in thc accounts. Financial Position As at 31 Dcccinbcr 2024, thc charity h¢ld funds of £2,303,526, of which £877,657 wcrc hcld as fixed assets. For 2025, thc Trustccs arc eonfidcnt that thc eoursc contributions, intcrcst incomc and othcr donations together will continue to cover the running costs of the Charity. The Charity's Reserves policy It is considered prudent to maintain an income reserve roughly equivalent to 5 to 6 inonths'nornial" running costs (approximately £115,000) to cover any unforeseen events which will significantly impact the cash flow. AnnualRvport Page 8 of10
APPENDIX I - TRUSTEES (during 2024} Trustee Nrtme T*Mslee Name Mr DAVID FORBES BORRIE Ms THERES DORA KELLER Mr KYAW KYAW CHITTIN Mr ROY MILLMAN Mr% AL4BELLA LILIAN VIRGINIA DELAHUNTY Mr FIL4NZ CHIUSTOF NEUNER Mr KEVIN GEIL4LD DELAHUNTY Mrs NICOLA SALLY NEWTON Prot. KEDAR NATH DWIVEDI Mr ROGER NEWTON (Apptd. 11.08.24) Mr. NEIL PAvirr Dr AMITABH DWIVEDI Mrs KAYE FRANCES HULENA Mr JOSEPH ALOISIUS JOOSTEN Dr WILLIAM PRUITT Mi%.% VIRGINIA JUDKINS Mr OLIVER WATERHOUSE Mr SIMON JUGHARD Dr CHRISTLAN LL4RL ERNST WUNSCHIK AnnualRvport Pu¥e 10 of10