2024-08-31-accounts

THAMES MEDITATION SOCIETY ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Registered Charity (England & Wales)

: 289655

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

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 - 19

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The trustees are pleased to present their report and financial statements together with the independent examiner’s report for the year ended 31 August 2024.

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 43rd year. During this period the Thames Meditation Society has been able to maintain the Temple from strength to strength fulfilling all the needs of The Thames Buddhist Vihara 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 26th November 2023, We have had many Successful functions as follows.

30th 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 2024

04th February – special Evening Pooja was held to commemorate the 76th Independence of Our Motherland.

13the 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 throughout.

28th April – Special Farewell Pooja to pass Blessings to Ven. Munwatthe Mangala Thero who went back to Sri Lanka after staying here for 2 years.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

26th 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.

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 Birrthday.

26th May – A beautiful Vesak Pandall was displayed outside the Temple.

17th – 21st June – Special 5 day Meditation Program was held by Most Ven. Bambalapitiye Gnanaloka Thero

23rd 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 and Dana was offered to the Observers of Atasil.

07th -10th July – 4 Day Special Retreat conducted by Most Venerable Udaeriyagama Dhammajiva Thero.

13th July – 43rd Anniversary of Thames Buddhist Vihara was celebrated with the Special Atavisi Buddha Pooja followed by a Special Pirith chanting Ceremony attended by large number of venerables from other temples of the UK. It was a well-attended and very successful event. All the credit should go to the resident venerables of the Vihara for the correct guidance.

20th July – Vas Aradhana Pooja was held at the Temple on the Full Moon Poya Day.

20th October – 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 about 20 venerables from all parts of the UK and it was very well-attended ceremony.

Apart from all these programs, Special weekly 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 Most Ven Kohukumbure Siridhamma Thero, the Acting Head of Thames Buddhist Vihara, 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 for a long life.

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.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Our sincere and respectful gratitude goes to all the venerables for all these hard works 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 10 trustees during the year ended 31 Aug 2024.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

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 2024.

• General Committee

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

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. Ishara B Kapilarathna Mr. Rohitha Thebuwanage (Resigned 26/11/2023) Mr. Chandana Elwadura Silva (Resigned 26/11/2023) Dr. H. M. Kularatne (Custodian Trustee) Mr. Madawala Hemananda (Custodian Trustee)

Bankers Barclays Bank Leicester LE87 2BB

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Independent Examiner MGT SILVER THRONE Chartered Accountants and Tax Advisers 23 Sangley Road London SE25 6QT

APPROVAL

This report was approved by the trustees on 15 April 2025 and signed on their behalf by:

………Signed……………………… Ravindra Nihal Jayathilake Hon. Secretary

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INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 AUGUST 2024

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 2024, which are set out on pages 11 to 19.

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

22 April 2025

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STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024

Income from: Donations Investment Income Total Expenditure on: Charitable Activities 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	Note	Unrestricted Restricted Total Funds Funds 2024 £ £ £ 55,011 13,000 68,011 1,039 311 1,350 56,050 13,311 69,361 ( 40,479) - ( 39,026) 39 - 39	Total 2023 £
	3 4 5		53,512 597
			54,109
			( 31,812) 86.00
		( 40,440) - ( 38,987)	( 31,726)
		15,610 13,311 30,374 13,000 ( 13,000) - 28,610 311 30,374 433,924 20,273 454,197 462,534 20,584 483,118	22,383.00 0.00
			22,383.00
			431,814
			454,197

All income and expenditure and the resulting net movement in funds arise from continuing operations.

The Notes on pages 13 to 19 form an integral part of these accounts.

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BALANCE SHEET AS AT 31 AUGUST 2024

Fixed Assets: Tangible Fixed Assets Investments Current Assets: Debtors Cash at bank and in hand Liabilities: Creditors (Due within one year) Net Current Assets Net Assets Funds of the charity: Restricted funds Unrestricted funds	Note	Unrestricted Restricted Total Funds Funds 2024 £ £ £ 364,593 -364,593 367 -367 11,897 - 11,897 86,116 20,584 106,700 98,013 20,584 118,597 439 - 439 97,574 20,584118,158 462,534 20,584 483,118 - 20,58420,584 462,534 -462,534 462,534 20,584483,118	Total 2023 £
	7 8 9 10 11 12 12		342,167 328
			9,715 102,424
			112,139
			437
			111,702
			454,197
			20,273 433,924
			454,197

These accounts on pages 11 to 19 were approved by the trustees of the Thames Meditation Society at the General Meeting held on 15/04/2025 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 19 form part of these financial statements.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

3. Income from Donations

Income from Donations
Unrestricted Restricted Total Funds Funds 2024 £ £ £ Membership Subscriptions 14,040 -14,040 Other Donations 30,220 13,00043,220 Gift Aid 10,751 -10,751 55,011 13,00068,011	Total 2023 £
	14,919 30,367 8,225
	53,511

4. Investment Income

Investment Income
Interest Income Dividend Income	Unrestricted Restricted Total Funds Funds 2024 £ £ £	Total 2023 £ 597 - 597
	1,039 3111,350 - --
	1,039 3111,350

5. Expenditure on Chartable Activities

Direct Costs Dhamma School Expenses Annual Pirith Ceremony New Year Event	Unrestricted Restricted Total Funds Funds 2024 £ £ £	Total 2023 £
	40 - 40 3,777 - 3777 10,437 - 10437	124 - 7,511
	14,254 -14,254	7,511

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

Support Costs Office Rent and Rates Business Insurance Gas, Water & Electricity Repairs and Maintenance Telephone & Internet Travel Depreciation Paypal Charges Governance Costs (Note 6) General Expenses Total	1,406 -1,406 1,022 -1,022 7,952 -7,952 1,354 -1,354 1,441 -1,441 3,381 -3,381 7,683 -7,683 59 -59 474 -474 1,453 --	1,284 1,004 6,141 1,952 1,352 8,476 3,494 - 473 - 24,176 31,687
	26,225 -24,772
	40,479 -39,026

6. Governance Costs

Governance Costs
Fixed Assets Independent Examiner's Fee ICO Registration Cost As at 1 Sep Addition during the year Disposal/Transfers 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 £ £ £		2024 £
			439 35
			474
	338,684 2,500 12,025 16,750 30,109 - - ( 16,750) -		353,209 342,700 46,859 10,509 - 0.00
	355,434 15,859 12,025		383,318 353,209
	2,002 - 9,040 6,190 - 1,493		11,042 7,548 7,683 3,494
	8,192 - 10,533		18,725 11,042
	347,242 15,859 1,492		364,593 342,167

7. Fixed Assets

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

8. Investments

Unrestricted Restricted Total Funds Funds 2024 £ £ £ Net Realizable Value as at 31 Aug 328 - 328 Less: Appreciation in value 39 - 39 Net Realizable Value as at 31 Aug 367 - 367	Total 2023 £
	242 86
	328

9. Debtors

Gift Aid receivable Other debtors Prepayments	Unrestricted Restricted Total Total Funds Funds 2024 2023 £ £ £ £ 10,593 -10,5938,208 568 -568780 736 -736727 11,897 -11,8979,715

10. Cash at bank and in Hand

Bank Current account Bank Savings account Paypal Account	Unrestricted Restricted Total Total Funds Funds 2024 2023 £ £ £ £ 14,336 -14,33611,259 71,780 20,58492,36491,115 - - -50 86,116 20,584 106,700102,424

11. Creditors: amounts falling due within one year

Independent Examiner Fees	2024 2023 £ £ 439437 439437

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12. Movement in Funds (Current year)

	As at	Incoming	Outgoing		As at
	01/09/23	Resources	Resources	Transfers	31/08/24
	£	£	£	£	£
Unrestricted funds
General fund	433,924	56,050	( 40,440)	13,000	462,534
Restricted funds
Mansell Davis Fund	20,273	13,311	-	( 13,000)	20,584
Building Fund	-	-	-	-	-
	20,273	13,311	-	( 13,000)	20,584
Total funds	454,197	69,361	( 40,440)	-	483,118
Movement in Funds	(Prior year)
	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

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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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.

End of Report

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