## **THAMES MEDITATION SOCIETY ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
**Registered Charity (England & Wales)**
**: 289655**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
## **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 2023
The trustees are pleased to present their report and financial statements together with the independent examiner’s report for the year ended 31 August 2023.
## **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**
We, The Thames Meditation Society have now completed successful 42nd year. During this period, it has come from strength to strength fulfilling all the needs of The Thames Buddhist Vihara and maintaining it as a peaceful Place of religious worship for the use of all the Buddhist congregation in the UK.
Since we had our Last AGM of the Society on the 27th November 2022 We have had many Successful functions during the last year as follows.
18th December – The Sangamittha Day was held to mark the arrival of Arahath Nun Sangamittha and the Establishment of the Order of the Buddhist Nuns in Sri Lanka.
01st January 2023 – 3 successful sessions of Special Pirith Chantings were conducted by our Resident Venerables of the Temple to usher and pass Blessings to everyone in the New Year 2023
04th February – special Evening Pooja was held to commemorate the 75th Independence of Our Motherland.
15the April – We had a Very successful New Year Festival this time for everyone to enjoy and to get the feeling of Sri Lanka under the correct guidance of Our Venerables. Many thanks to everyone for the support given.
07th May – Celebrated Vesak Day, the most important day in the Buddhist Calander was held at the Temple to mark the Birth, Enlightenment and the Passing away of the Lord Buddha. Many devotees observed Atasil as usual and Dana was offered to all the venerables and the observers of Atasil.
11th May – Had a Special Day Retreat by Ajahn Brahm. Many Buddhist and Non-Buddhist devotees were present.
**4**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
26th May - Special Ashirvada Pooja was held to pass Blessings for a Long Life to the Founder of Thames Buddhist Vihara, Most Venerable Pahalagama Somarathana Nayaka Thero on His Birthday.
04th June – The Poson Poya Day to mark the Unique Historical event of the Arrival of Arahath Mahinda Thero, son of Emperor Asoka in India. The Sil Program was conducted.
02nd July – Special Day Retreat by Most Ven. Udairiyagama Dhammajeeve Thero was held.
22nd July – 42nd Anniversary of Thames Buddhist Vihara wass celebrated with the Special Atavisi Buddha Pooja followed by a Special Pirith chanting attended by large number of venerables from other temples of the UK. It was a well-attended and very successful event.
01st August – Vas Aradhana Pooja was held at the Temple on the Full Moon Poya Day.
13th August – Special Dhamma Sermon by Most Ven. Kagama Sirinanda Thero was held. It was wellattended program.
19th August – Ven. Eheliyagoda Dammapala Thero had to go back to Sri Lanka due to his ill health conditions.
07th November – A Special Dhamma Talk and Discussion on ‘Non-self and Responsibility’ by Ven. Ajahn Brahm. It was very successful and well-attended.
19th November – Annual Katina Ceremony which offers the Special Robe to an elected Venerable by Maha Sanga who observed Vas, the Rainy Retreat, was held at the Temple. It was conducted by 20 venerables from all parts of the UK and it was very well-attended ceremony.
In addition to the above Programs, we have completed two successful projects, WC-PROJECT for two contemporary bathrooms and the Flooring Project for the Hall. We would like to extend our sincere gratitude for all our generous Donors who supported us to make these projects grand success. And also Dr. Shiroma Bandara sponsored for the Front main door of the Temple. Huge Thanks goes to her too. Our Hon. Treasurer had to do a lot of hard work to get these things done, so A Big thank to him as well.
Apart from all these programs, Special Dhamma Sermons were held throughout Vassana Period. Sadaham Aruna Sermon Programs were also held before the Vassana period and it is going to be continued too in the future once a month as usual.
All the resident Venerables headed by Ven Kohukumbure Siridhamma Thero are conducting all the religious functions and activities fulfilling the needs of the devotees even by visiting the needy devotees at their residences and even hospitals to bless them. In addition to these, monthly Sil Programs, regular Meditation Programs and Dhamma Suthra Discussions are voluntarily conducted for the benefit of the devotees of various nationalities. Their service is always highly appreciated and the Dhamma School is also smoothly run by volunteer teachers and a very big thank for their service and the huge support given by the parents too.
**5**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
Our sincere and respectful gratitude goes to all the venerables for all these hard work carried out by them and we would like to extend our sincere thanks to all the committee members and the devotees for the support given throughout to make these events a grand success.
May Triple Gem Bless you all.
Nihal Jayathilake
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.
## **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 27[th] Nov 2021. There were 13 trustees during the year ended 31 Aug 2023.
**6**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
## **Appointment of Trustees**
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. All trustees are appointed at the annual general meeting of the society.
Retiring trustees are eligible for re-election.
## **Organizational Structure**
The following committees were in operation during the year ended 31 Aug 2023.
- General Committee
**7**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
## **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. Chandra Mendis (Chair of Trustees) Mr. Roshan Asanga Perera (Hon. Treasurer) Mr. Ravindra Nihal Jayathilake (Hon. Secretary) Dr. Mahipala Dissanayake Dr. Sunil Ranjit Jayawardhana Mr. Sanjaya C Kodituwakku Mr. Welikalage Nihal Ananda Mr. Rohitha Thebuwanage (Resigned 26/11/2023) Mr. Chandana Elwadura Silva (Resigned 26/11/2023) Mr. Ishara B Kapilarathna Dr. H. M. Kularatne (Custodian Trustee) Mr. Ariyadasa Kotinkaduwe (Custodian Trustee) Mr. Madawala Hemananda (Custodian Trustee)
**Bankers** Barclays Bank Leicester LE87 2BB
**8**
**TRUSTEES’ ANNUAL REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
**Independent Examiner** MGT SILVER THRONE **Chartered Accountants and Tax Advisers** 23, Sangley Road London, SE25 6QT Tel: 0800 689 1495
**APPROVAL**
This report was approved by the trustees on 23[rd ] June 2024 and signed on their behalf by:
………Signed ……………………… Ravindra Nihal Jayathilake Hon. Secretary
**9**
**INDEPENDENT EXAMINER’S REPORT** FOR THE YEAR ENDED 31 AUGUST 2023
## **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 2023, 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 SILVER THRONE Chartered Accountants and Tax Advisers 23 Sangley Road London SE25 6QT
26 June 2024
**10**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)** FOR THE YEAR ENDED 31 AUGUST 2023
|**Note**
**Income from:**
Donations
3
Investment Income
4
Total
**Expenditure on:**
Charitable Activities
5
Unrealized (loss)/gain 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**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
53,512 -
**53,512**
459 138
**597**
53,971 138
**54,109**
( 31,812) -
**( 31,812)**
86 -
**86**|Total
2022
£|
|---|---|---|
|||23,989
39|
|||24,028|
|||( 27,396)
( 27)|
||( 31,726) -
**( 31,726)**|( 27,423)|
||22,245
138
**22,383**
- - -
22,245
138
**22,383**
411,679 20,135 431,814
433,924 20,273
**454,197**|( 3,395)
-|
|||( 3,395)|
|||435,209|
|||431,814|
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 2023
|**Note**
**Fixed Assets:**
Tangible Fixed Assets
7
Investments
8
**Current Assets:**
Debtors
9
Cash at bank and in hand
10
**Liabilities:**
Creditors (Due within one year)
11
**Net Current Assets**
**Net Assets**
**Funds of the charity:**
Restricted funds
12
Unrestricted funds
12|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
342,167 -**342,167**
328 -**328**
9,715 -
**9,715**
82,151 20,273
**102,424**
91,866 20,273
**112,139**
437 -
**437**
91,429 20,273**111,702**
433,924
20,273
**454,197**
- 20,273**20,273**
433,924 -**433,924**
433,924 20,273**454,197**|Total
2022
£|
|---|---|---|
|||335,152
242|
||||
|||4,170
95,089
99,259|
|||2,839|
|||96,420|
|||431,814|
|||20,135
411,679|
|||431,814|
These accounts on pages 11 to 18 were approved by the trustees of the Thames Meditation Society at the General Meeting held on 23[rd] June 2024 and signed on their behalf by:
………..Signed……………… **Name:** Chandra Mendis **Chair of Trustees**
………. Signed…………….…….. **Name:** Roshan Asanga Perera **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 2023
## **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 13.
## 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 2023
## 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 2023
## **3. Income from Donations**
|**Income from Donations**|||
|---|---|---|
|**Investment Income**
Membership Subscriptions
Other Donations
Gift Aid
Interest Income
Dividend Income|Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**
14,919
-**14,919**
30,367
-**30,367**
8,225
-**8,225**
53,512
-**53,512**
Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**|Total
2022
£
15,472
5,308
3,209
23,989
Total
2022
£
39
-
39|
||459 138**597**
- -**-**||
||459 138**597**||
## **4. Investment Income**
## **5. Expenditure on Chartable Activities**
|**_Direct Costs_**
Dhamma School Expenses
Annual Pirith Ceremony
New Year Event|Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**|Total
2022
£|
|---|---|---|
||124 -
**124**
- -**-**
7,511
-**7,511**|2,300
5,650|
||7,635
-**7,635**|7,950|
**15**
## **NOTES TO THE FINANCIAL STATEMENTS**
## FOR THE YEAR ENDED 31 AUGUST 2023
**----- Start of picture text -----**
Support Costs
Office Rent and Rates 1,284 - 1,284 1,177
Business Insurance 1,004 - 1,004 950
Gas, Water & Electricity 6,141 - 6,141 5,927
Repairs and Maintenance 1,952 - 1,952 7,387
Telephone & Internet 1,352 - 1,352 1,066
Travel 8,476 - 8,476 925
Depreciation 3,494 - 3,494 1,541
Paypal Charges 1 - 1 3
Governance Costs (Note 6) 473 - 473 470
24,176 - 24,176 19,446
Total 31,812 - 31,812 27,396
**----- End of picture text -----**
|**6. Governance Costs**
**7. Fixed Assets**
Independent Examiner's Fee
ICO Registration
Land and Capital Work
Computer
Buildings
in Progress
E'ments
£
£
£
**_Cost_**
As at 1 Sep
330,675
-
12,025
Addition during the year
8,009
2,500
-
Disposal/Transfers
-
-
As at 31 Aug
338,684
2,500
12,025
**_Depreciation_**
As at 1 Sep
-
-
7,548
Charge for the year
2,002
-
1,492
As at 31 Aug
2,002
-
9,040
**_Net Book Value_**
As at 31 Aug
336,682
2,500
2,985|**6. Governance Costs**
**7. Fixed Assets**
Independent Examiner's Fee
ICO Registration
Land and Capital Work
Computer
Buildings
in Progress
E'ments
£
£
£
**_Cost_**
As at 1 Sep
330,675
-
12,025
Addition during the year
8,009
2,500
-
Disposal/Transfers
-
-
As at 31 Aug
338,684
2,500
12,025
**_Depreciation_**
As at 1 Sep
-
-
7,548
Charge for the year
2,002
-
1,492
As at 31 Aug
2,002
-
9,040
**_Net Book Value_**
As at 31 Aug
336,682
2,500
2,985||**2023**
**£**|
|---|---|---|---|
||||**438**
**35**|
||||**473**|
|||||
||330,675
-
12,025
8,009
2,500
-
-
-||**342,700**
343,541
**10,509**
5,970
**-**
(6,811)|
||338,684
2,500
12,025||**353,209**
342,700|
||-
-
7,548
2,002
-
1,492||**7,548**
7,548
**3,494**
-|
||2,002
-
9,040||**11,042**
7,548|
|||||
||336,682
2,500
2,985||**342,167**
335,152|
**16**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2023
## **8. Investments**
|Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**
Net Realizable Value as at 31 Aug
242
-
**242**
Less: Appreciation in value
86
-
**86**
Net Realizable Value as at 31 Aug
328
-
**328**|Total
2022
£|
|---|---|
||269|
||( 27)|
||242|
## **9. Debtors**
|**Debtors**|||
|---|---|---|
|Gift Aid receivable
Other debtors
Prepayments|Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**|Total
2022
£|
||8,208 -**8,208**
780 -**780**
727 -**727**|3,204
250
716|
||9,715 -**9,715**|4,170|
## **10. Cash at bank and in Hand**
|Bank Current account
Bank Savings account
Paypal Account|Unrestricted
Restricted
**Total**
Funds
Funds
**2023**
£
£
**£**|Total
2022
£
4,355
90,734
-
95,089|
|---|---|---|
||11,259
**11,259**
70,842 20,273**91,115**
50
-**50**||
||82,151
20,273
**102,424**||
## **11. Creditors: amounts falling due within one year**
|Independent Examiner Fees
Other Accrued Expenses|**2023**
2022
**£**
£
**437**435
**-**2,404
**437**2,839|
|---|---|
**17**
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 AUGUST 2023
## **12. Movement in Funds**
**----- Start of picture text -----**
As at Incoming Outgoing As at
01/09/22 Resources Resources Transfers 31/08/23
£ £ £ £ £
Unrestricted funds
General fund 411,679 53,971 ( 31,726) - 433,924
Restricted funds
Mansell Davis Fund 20,135 138 - - 20,273
Building Fund - - - - -
20,135 138 - - 20,273
Total funds 431,814 54,109 ( 31,726) - 454,197
**----- End of picture text -----**
## **13. 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.
## **14. Transactions with Trustees and Related Parties**
## a) The charity has no employees.
b) The charity's insurance policy includes officer bearers’ liability.
c) No trustees received any remuneration during the year (2022 - £nil)
**18**