## **THAMES MEDITATION SOCIETY**
## **ANNUAL REPORT & FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 AUGUST 2021**
**Registered Charity (England & Wales) : 289655**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
## **CONTENTS**
|**CONTENTS**||
|---|---|
||**Pages**|
|Trustees’ Annual Report|04 - 09|
|Independent Examiner’s Report|10|
|Statement of Financial Activities (Including Income & Expenditure Account)|11|
|Balance Sheet|12|
|Notes to the Financial Statements|13 - 18|
**3**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
The trustees are pleased to present their report and financial statements together with the independent examiner’s report for the year ended 31 August 2021.
## **OBJECTS & ACTIVITIES**
## **Objects**
1. Promote, foster and propagate and provide facilities for the study and practice of Theravada Buddhism including meditation and all such matters incidental, conducive, and/or related thereto. Such facilities to benefit all members of the Society and all those interested in the teachings of the Buddha;
2. Establish and maintain appropriate libraries, reading rooms, scholarships and other similar institutions;
3. Publish and arrange for the publication of newspapers, books, periodicals, websites and other literature dealing with the activities of the Society;
4. Affiliate and cooperate with and/or take over other societies and/or trusts, having similar objects.
## **ACHIEVEMENTS & PERFORMANCE**
On the 31[st ] of August 2021, the Thames Meditation Society completed its 40th successful year; during which the Society continued to maintain the Thames Buddhist Vihara, as a place of religious worship for use by Buddhists of all nationalities in the United Kingdom.
Since the first lockdown in the UK in March 2020 onwards, all regular visitors to the Temple were stopped and dana offerings were collected at the door as per government guidelines and subsequently for the protection of the incumbent monks. Monthly Dhamma sessions “Sadaham Aruna”, monthly meditation sessions “Bodhimagga”, other weekly meditation classes, monthly Sil programmes, Pujas all continued online.
Again this year owing to the Covid19 pandemic and the lockdown all activities of the Temple was carried online via Facebook, Zoom and Youtube. Devotees were informed by email of the forthcoming events until the end of the year on 25[th ] August 2020. The year commenced with the “Sath Buduwandanawa” on 20th September 2020.
On 7th October 2020 devotees were informed by email of the rare opportunity to purchase No.51 Dulverton Road which has come up for sale with an asking price of £550k and inviting pledges at this stage. A Sath Sathi Puja commenced on 18[th ] October 2020.
The annual “Katina” Ceremony, which is the offering of the Robe to an elected Venerable, by the Maha Sanga who had observed “Vassana” (the rainy retreat), at the Thames Buddhist Vihara which was to be held for the 39th successive year on 8th November 2020 had to be cancelled owing to the pandemic and the congregation was informed of this by email. Owing to the ongoing pandemic no AGM was held in 2020 and the congregation was informed by email on 6[th ] November 2020. The same committee agreed to continue with the various matters relating to the Temple.
**4**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
“Sangamittha Day” celebrations were held on 27th December 2020 to mark the arrival of “Arahath” Nun Sangamittha and the establishment of the Order of the Buddhist nuns in Sri Lanka. Special “Pirith” chanting sessions were conducted on the 1[st ] January 2021 to usher in the New Year, bestowing merit on all beings: especially on devotees of the Vihara and the people of Sri Lanka and the UK.
In February 2021 Independence Day celebrations “Nidahase Udanaya” which had previously been scheduled were not held. No celebrations were held for the 14[th ] April 2021 Sinhalese and Tamil New Year. The congregation was informed by an email sent on 12[th ] April 2021 of the various auspicious times for the traditional activities.
The most important day in Buddhist calendar “Vesak” (Buddha Day), which marks the birth, enlightenment and the passing away of the Lord Buddha, was not commemorated in the usual manner but online programmes were held during the month of May 2021. On 23[rd ] May 2021, the programme was sent by email to the congregation.
On 28[th ] May 2021 the congregation was informed by an email that a Special Pooja will be held online on 30[th ] May 2021 to give blessings to Ven Somaratana, the founder of the Thames Buddhist Vihara on his 75[th ] birthday. “Poson” marking the unique historical event of the arrival of “Arahath” Mahinda (son of Emperor Asoka in India) in Sri Lanka was also celebrated online on 26[th ] June 2021.
Since the lockdown last year, from 1 July 2020 everyone had been participating with the daily online Buddha Puja from 6.30pm and details were given how to sponsor a Puja if required. This continued throughout this year.
Online celebrations were also held on 23[rd ] July 2021 for the annual Vas Aradhana when the resident Venerable Monks are invited to observe the traditional “Vassana” the rainy retreat at the Vihara. Devotees were given the available dates to provide dana and other offerings to the Monks during this period.
The 40th anniversary of Thames Buddhist Vihara, the Dhammachakka Day was celebrated on 31st July 2021 as done in previous years with the “Atavisi Buddha Puja” and annual Pirith chanting with a few people attending the Temple and the rest of the congregation participating online.
The Society also wishes to put on record, its appreciation and sincere gratitude to our resident monks. We extend our sincere gratitude to Ven. Kohukumbure Siridhamma Thero and Ven. Rambodagama Narada Thero for their untiring work during the year. Furthermore, we extend our thanks to the Venerable Theros who took part in the religious activities at our invitation during the past year.
The Society wishes to extend their sincere gratitude and thanks to all those devotees who assisted and supported the activities organised by the Vihara and in particular those who contribute monthly by Standing Orders through their banks and other financial contributions towards the upkeep of the Vihara. We would also like to express our appreciation to the people who provide Dhana regularly and on special occasions.
As has been the usual custom since the lockdown, the Sunday Pujas sponsored by the devotees were held online. In addition, the Sunday school also continued online with children of varying ages
**5**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
participating to learn the Dhamma, Buddhist Culture and Sinhala language assisted by the resident monks and a number of excellent parents/teachers who gave up their valuable time each Sunday for this important and meritorious task.
The successfully run monthly Sil Programmes were held on Full Moon Poya days with a number of devotees observing the 8 precepts at home and the programmes continuing online. Regular Meditation sessions and Dhamma discussions were conducted for the benefit of increasing numbers of various nationalities which continued online. Volunteers who are members of the Thames Meditation Society conduct these sessions. We greatly appreciate the work done by these volunteers who run the Sunday school and weekly meditation classes. The monthly Dhamma Deshana sessions “Sadaham Aruna” that started 4 of years earlier has gone from strength to strength and are sponsored for several months ahead and are continuing online. The monthly meditation sessions “Bodhi Magga” which commenced 3 years before also continued online with Ven. Eheliyagoda Dhammapala Thero conducting them from Sri Lanka. A special thank you to the organisers of these which enrich the spiritual culture at our Vihara.
Our sincere gratitude also goes to the members of the Executive and General Committees as well as our Patron who work very hard in many ways to continue to improve, progress and promote the Thames Buddhist Vihara. Again this year, the Executive Committee has made a decision not to mention individual names of people who were dedicated to the wellbeing of our temple, for the very reason that we would like to appreciate every little help with high spirit.
We are a peaceful organization that try to operate a Buddhist Temple for the benefit of all Buddhists. Our accounts are prepared meticulously by our Treasurer and independently audited annually and presented at the Annual General Meeting to which anyone can attend and seek clarification if necessary.
Here we serve a community of almost 500 mostly peaceful Buddhists who wish to keep their Vihara going for the sake of their families, children and grandchildren. I would therefore wish to remind everybody that, if there are any concerns with the running of this Temple, for the sake of those 500 people, please raise your concerns with us. We are very willing to co-operate and alleviate any concerns. May the blessings of the Triple Gem protect you all.
Sandhya Weeraratne,
Secretary TMS
## **FINANCIAL REVIEW**
## **Summary**
The society’s main income source remains donations from the devotes to the Thames Buddhist Vihara. We sincerely appreciate everyone’s commitment for this purpose and also the non-financial contributions made by everyone throughout the year. Current year was a challenging year with no additional fundraising events being held. However, with the support of resident monks, Temple functions were performed largely virtually and expenses were maintained at manageable levels.
**6**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
## **Risk Management**
The trustees regularly review the risks to which the Association is exposed. They do not consider that there are any substantial risks beyond the liabilities disclosed in the financial statements. The charity had no employees and no leased premises.
## **Reserves Policy**
The Society maintains a healthy reserve from accumulated net income and there were no changes made to these during the year.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The society was originally established in 1984 as an unincorporated charity by a constitution dated 3[rd] June 1984 as amended on 29[th] May 2010. There were 23 trustees during the year ended 31 Aug 2020. Executive committee consists of 8 trustees elected at the annual general meeting and there were 15 trustees who act as the general committee during the year.
## **Appointment of Trustees**
The executive board (Known as Executive Committee) consists of 8 trustees elected by the subscribing members to serve for a period of 12 months until the following annual general meeting. Elected trustees must be subscribing members of the society. To be appointed and elected as a trustee, a subscriber to the society must be a member for at least 6 months.
Retiring trustees are eligible for re-election.
## **Organizational Structure**
The following committees were in operation during the year ended 31 Aug 2021.
- Executive Committee
- General Committee
**7**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Charity Name** THAMES MEDITATION SOCIETY **Charity No** _**(England & Wales)**_ 289655 **Registered Address** 49 Dulverton Road Selsdon Surrey CR2 8PJ **Website Address** www.thamesbuddhistvihara.org **Current Trustees** _**(Elected)**_ All those who served as a trustee in the reporting period and as at date the report was approved. The custodian trustees stated below held the title to the property at No 49, Dulverton Road, Selsdon, Surrey, CR2 8PJ during the period. **Members of Executive Committee** Dr. H. M Kularatne (Custodian Trustee, President) Ms. Sandhya Weeraratne (Secretary) Mr. Kumudu Premathunga (Treasurer) Mr. Chandrasiri Mendis (Vice President) Ms. Sreemathi Weeraman (Vice President) Dr. Mahipala Dissanayake (Assistant Secretary) Dr. Ranjit Jayawardhana (Assistant Treasurer) Mr. Sujan Wickramaratchchi (Safeguarding Officer) **Members of General Committee** Mr. Ariyadasa Kotinkaduwe (Custodian Trustee) Mr. Madawala Hemananda (Custodian Trustee) Ms. Dimalee Herath Mr. Nihal Jayathilake Mr. Suraj Weeraratne Mr. Mahinda De Silva Mr. Sanjaya Kodituwakku Mr. Ananda Welikalage Mr. Rohitha Thebuwanage Mr. Thushara Samarasekara Mr. Chameera Dondeenu
**8**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
Dr. Deshan Weeraman Ms. Panchali Herath Mr. Roshan Perera **Bankers** Barclays Bank Leicester LE87 2BB **Independent Examiner** MGT CHARTERED ACCOUNTANTS **Forensic Directors and Tax Advisers** 23, Sangley Road London, SE25 6QT Tel: 0800 689 1495
## **APPROVAL**
This report was approved by the trustees on 17 November 2021 and signed on their behalf by:
……………Signed………………… Ms Sandhya Weeraratne Hon. Secretary
**9**
**INDEPENDENT EXAMINER’S REPORT** FOR THE YEAR ENDED 31 AUGUST 2021
## **Independent examiner's report to the trustees of THAMES MEDITATION SOCIETY**
I report to the trustees on my examination of the accounts of the Thames Meditation Society for the year ended 31 August 2021, which are set out on pages 11 to 18.
## **Respective responsibilities of trustees and examiner**
As the charity trustees of Thames Meditation Society, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of independent examiner’s report**
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. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- a) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
- b) the accounts do not accord with those records; or
- c) the accounts do not comply with the applicable requirements concerning the form and content of accounts set 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 no concerns and 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.
_____Signed_______________ Terrance Gunaratne BSc, ACA, CPFA
MGT CHARTERED ACCOUNTANTS Forensic Directors and Tax Advisers 23 Sangley Road London SE25 6QT
30 November 2021
**10**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)** FOR THE YEAR ENDED 31 AUGUST 2021
|**Income from:**
Donations
Charitable Activities
Investment Income
Total
**Expenditure on:**
Charitable Activities
Unrealized Loss on Investment
Total
**Net income/(expenditure)**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds**
Total funds as at 01 Sep
**Total funds as at 31 Aug**|**Note**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
25,181 525
**25,706**
- -
**0**
- 8
**8**
25,181 533
**25,714**
( 14,821) -
**( 14,821)**
( 27) -
**( 27)**
( 14,848) -
**( 14,848)**
10,333 533
**10,866**
- - -
10,333 533
**10,866**
401,936 22,407 424,343
412,269 22,940
**435,209**|Total
2020
£|
|---|---|---|---|
||3
4
5
6||26,622
20
95|
||||26,737|
||||( 18,917)
( 49)|
||||( 18,966)|
||||7,770
-|
||||7,770|
||||416,572|
||||424,343|
All income and expenditure and the resulting net movement in funds arise from continuing operations.
The Notes on pages 13 to 18 form an integral part of these accounts.
**11**
**BALANCE SHEET** AS AT 31 AUGUST 2021
|**Note**
**Fixed Assets:**
Tangible Fixed Assets
8
Investments
9
**Current Assets:**
Debtors
10
Cash at bank and in hand
11
**Liabilities:**
Creditors (Due within one year)
12
**Net Current Assets**
**Net Assets**
**Funds of the charity:**
Restricted funds
13
Unrestricted funds
13|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
337,534 -**337,534**
269 -**269**
- -
8,169 -
**8,169**
67,532 22,940
**90,472**
75,701 22,940
**98,641**
1,235 -
**1,235**
74,466 22,940**97,406**
412,269
22,940
**435,209**
22,940**22,940**
412,269
**412,269**
412,269 22,940**435,209**|Total
2020
£|
|---|---|---|
|||338,354
296|
|||-|
|||5,320
81,098
86,418|
|||725|
|||85,693|
|||424,343|
|||22,407
401,936|
|||424,343|
These accounts on pages 11 to 18 were approved by the trustees of the Thames Meditation Society at the Annual General Meeting held on 27 November 2021 and signed on their behalf by:
**Signature:** ….Signed…… **Name:** Dr H M Kularatne **Trustee**
**Signature:** ……Signed…….. **Name:** Kumudu Premathunga **Treasurer**
The notes on pages 13 to 18 form part of these financial statements.
**12**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2021
## **1. Basis of Preparation**
- 1.1. These accounts (financial statements) have been prepared under the historic cost convention, with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with:
- a. The Charities Act 2011
- b. Charities (Accounts and Reports) Regulations 2008
- c. Accounting & Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS102) (effective January 2015)
- 1.2. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## **2. Accounting Policies**
## 2.1. **Fund accounting**
- a) Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity and have not been designated for other purposes.
- b) Designated funds are unrestricted funds earmarked by trustees for particular purposes.
- c) Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, funding authority or when funds are raised for specific purposes.
- d) The purposes of the funds are shown in Note 14.
## 2.2 **. Incoming Resources**
- (a) Income is recognised and included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income; receipt is probable; and the monetary value can be measured with sufficient reliability. No amounts are included in the financial statements for services donated by volunteers.
- (b) Where income has related expenditure (e.g. conferences and training courses), the income and related expenditure are reported gross in the SoFA.
- (c) Member subscriptions, other donations and Bank interest is recognised when received and credited to the account.
- (d) Gift Aid is recognised in the same accounting period as the donation to which it relates.
## 2.3. **Resources Expended and Liabilities**
- (a) Expenditure is recognised on the accrual basis.
- (b) The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
- (c) Liabilities are recognised as soon as there is a legal or constructive obligation to pay
- out resources.
- (d) Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
**13**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2021
## 2.5. **Tangible assets and Depreciation**
- a) Tangible assets are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at their value on receipt.
- b) Depreciation for furniture and equipment is charged at 25% per annum. Full depreciation is charged to the income and expenditure statement in the year of purchase.
## 2.6. **Foreign Currencies**
- Transactions in foreign currencies are recognized and recorded at the rate prevailing at the time of the transactions. Monetary assets and liabilities are retranslated at the rate of exchange prevailing at the balance sheet date. Any differences are taken to the statement of financial activities.
## 2.7. **Investment**
Investment is recognized at the net realizable value(NRV). Any diminution in value is charged to income and expenditure in the year in which such diminution is recognized.
## 2.8. **Cash**
- a) Cash comprises bank deposits repayable on demand without penalty
- b) Cash balances also include any short-term highly liquid assets with a maturity date of three months or less from the date of acquisition or opening of the deposit or similar account.
## 2.9. **Taxation**
The charity is not liable to income tax or capital gains tax on its charitable activities
**14**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2021
## **3. Income from Donations**
|Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**
Membership Subscriptions
15,556
-**15,556**
Other Donations
2,340 525**2,865**
Gift Aid
7,285
-**7,285**
25,181 525**25,706**|Total
2020
£|
|---|---|
||15,957
6,216
4,449|
||26,622|
## **4. Income from Charitable Activities**
|**vestment Income**
Other Income
Interest Income
Dividend Income|**2021**
**£**
**-**
**-**
Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**|2020
£|
|---|---|---|
|||20|
|||20|
||||
|||Total
2020
£|
||- 8**8**
- -**-**|95
-|
||- 8**8**|95|
## **5. Investment Income**
## **6. Expenditure on Chartable Activities**
|**_Direct Costs_**
Annual Pirith Ceremony
Dhamma School Expenses
Other Costs|Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**|Total
2020
£|
|---|---|---|
||2,205 -**2,205**
-
-**-**
486
-**486**|1,131
82
1,283|
||2,691
-**2,691**|2,496|
**15**
## **NOTES TO THE FINANCIAL STATEMENTS**
## FOR THE YEAR ENDED 31 AUGUST 2021
**----- Start of picture text -----**
Support Costs
Farewell Events - - - 1,026
Office Rent and Rates 1,124 - 1,124 1,070
Business Insurance 906 - 906 955
Gas, Water & Electricity 4,417 - 4,417 4,529
Repairs and Maintenance 991 - 991 1,783
Postage & Stationery 42 - 42 187
Telephone & Internet 1,014 - 1,014 1,011
Travel 2,329 - 2,329 3,890
Depreciation 820 - 820 1,514
Paypal Charges 16 - 16 7
Governance Costs (Note 7) 470 - 470 449
12,130 - 12,130 16,421
Total 14,821 - 14,821 18,917
**----- End of picture text -----**
## **7. Governance Costs**
|Independent Examiner's Fee
ICO Registration|**2021**
**£**|2020
£|
|---|---|---|
||**435**
**35**|414
35|
||**470**|449|
## **8. Fixed Assets**
|**Fixed Assets**|||
|---|---|---|
|**_Cost_**
As at 1 Sep
Addition during the year
As at 31 Aug
**_Depreciation_**
As at 1 Sep
Charge for the year
As at 31 Aug
**_Net Book Value_**
As at 31 Aug|Land and Capital Work
Computer
Buildings
in Progress
E'ments
£
£
£|**Total**
Total
**2021**
2020
**£**
£|
||330,675
6,811
6,055
-
-
-|**343,541**
339,010
**-**
4,531|
||330,675
6,811
6,055|**343,541**
343,541|
||-
-
5,187
-
-
820|**5,187**
3,673
**820**
1,514|
||-
-
6,007|**6,007**
5,187|
||||
||330,675
6,811
48|**337,534**
338,354|
**16**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2021
## **9. Investments**
|Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**
Cost of Purchase (Shares in Santander)
296
-
**296**
Less: Diminution in value
( 27)
-
**( 27)**
Net Realizable Value as at 31 Aug
269
-
**269**|Total
2020
£|
|---|---|
||345
( 49)|
||296|
## **10. Debtors**
|**btors**|||
|---|---|---|
|Gift Aid receivable
Other debtors
Prepayments|Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**|Total
2020
£|
||7,281 -**7,281**
225 -**225**
663 -**663**|4,446
233
641|
||8,169 -**8,169**|5,320|
## **11. Cash at bank and in Hand**
|Bank Current account
Bank Savings account
Paypal Account|Unrestricted
Restricted
**Total**
Funds
Funds
**2021**
£
£
**£**|Total
2020
£|
|---|---|---|
||4,696
-**4,696**
62,781 22,940**85,721**
55
-**55**|5,869
75,204
24|
||67,532
22,940
**90,472**|81,097|
## **12. Creditors: amounts falling due within one year**
|Independent Examiner Fees
Electricity & Gas
Other Accrued Expenses|**2021**
2020
**£**
£
**435**414
**-**311
**800**
-
**1,235**725|
|---|---|
**17**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2021
## **13. Movement in Funds**
**----- Start of picture text -----**
As at Incoming Outgoing As at
01/09/20 Resources Resources Transfers 31/08/21
£ £ £ £ £
Unrestricted funds
General fund 401,936 25,181 ( 14,848) - 412,269
Restricted funds
Mansell Davis Fund 20,117 8 - - 20,125
Building Fund 2,290 525 - - 2,815
22,407 533 - - 22,940
Total funds 424,343 25,714 ( 14,848) - 435,209
**----- End of picture text -----**
## **14. Purpose of Funds**
## **Unrestricted Funds**
General fund – The funds that can be expended at the discretion of the trustees in furtherance of the objects of the charity.
## **Restricted Funds**
Mansell Davis fund – The fund that is to be used for the construction of a building
Building fund - The fund that is to be used for the extension of the existing building
## **15. Transactions with Trustees and Related Parties**
- a) The charity has no employees.
- b) No trustees received any remuneration during the year (2020 - £nil)
**18**