2025-12-31-accounts

Charity Registration No: 297894

Triratna Cambridge (known as Cambridge Buddhist Centre)

Trustees’ Report & Financial Statements

For the year ended 31 December 2025

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Contents

	Page
Legal and Administrative Information	3
Trustees’ Report	4-8
Independent Examiner’s Report	9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12-13

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Legal and Administrative Information	Legal and Administrative Information
Charity Name	Triratna Cambridge (known as Cambridge Buddhist Centre)
Charity Number	297894
Registered Address	36-38 Newmarket Road, Cambridge, Cambridgeshire, CB5 8DT
Trustees	Mr Mike Silver (Keturaja) - Chair
	Dr Miriam Brod (Jnanarati) - Treasurer - appointed 29 October 2025
	Mr John Turner (Sarvajit) - Treasurer - resigned 29 October 2025
	Ms Jacqui Ensom (Saccakhema) - Secretary - appointed 31 March 2025
	MsVimaladipa Tennison (Vimaladipa) - Secretary - until 31 March 2025
	Mr James Sessions (Arthasiddhi)
	Ms Elkie Wootton (Amarachandra)
	Mr Douglas Fraser (Kulapriya) - appointed 29 October 2025
	Mr Santosh Kamble (Sanghanath) - resigned 19 May 2025
	MsEileen Merryweather(Mokshacara) - died 3 July 2025
Bankers	Co-operative Bank
	PO Box 101
	1 Balloon Street
	Manchester
	M60 4EP
Independent	Nicholas Gray FMAAT
Examiner	Adhisthana
	Coddington Court
	Coddington
	Ledbury
	HR8 1JL

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Trustees’ Report

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities, as amended by the Update Bulletin issued in October 2019, the Charities Act 2011, and the accounting policies set out in the accompanying notes. The financial statements also comply with the charity’s governing document.

Objectives

The object of Triratna Cambridge is the advancement of the Buddhist religion. In particular:

1. To encourage members and others to live in accordance with the teachings of the Buddha.

2. To support ordained members of the Triratna Buddhist Order and other duly ordained Buddhists, at the discretion of the Council of Triratna Cambridge.

3. To maintain close communication with and work under the guidance of the Triratna Buddhist Order and in co-operation with other groups with the same objects.

4. To use applications of the Buddha’s teaching to promote the health and well-being of all.

Activities

2025 was a very full year for Cambridge Buddhist Centre, offering our usual wide range of Buddhism and meditation classes, courses, retreats and other events aimed at our diverse community.

These included classes on Buddhism, meditation and mindfulness; a weekly Dharma Night exploring a wide range of Buddhist topics; a weekly meditation evening; and regular drop-in meditation classes. We have also held a monthly full-moon puja (devotional ritual) night and have a range of Sangha (community) events throughout the year including several festival days involving meditation, Dharma talks, and Buddhist ritual.

There are also normally about ten study groups that meet regularly, and many people have requested ordination into the Triratna Buddhist Order and meet regularly to support that aspiration. The Buddhist Centre also organises several retreats a year, some at an introductory level and some for more experienced practitioners. This year saw the centre put on more lengthy retreats than we have arranged previously.

The Cambridge Buddhist Centre is also a venue for courses in Mindfulness Based Stress Reduction, Deep Relaxation, Yoga, Tai Chi and Pilates, all of which are well attended. Because the Charity occupies an historic theatre, there are also arts events and occasional open days for the general public. We also host visits from several local schools throughout the year.

One encouraging aspect of 2025 has been the continued development of a sub-30s monthly class that is now run by a dedicated team of young people with monthly evenings, breakfast seminars and other events. Growing connections and friendships are developing, resulting in increased engagement of young people across the Centre’s activities.

The year also saw the centre developing clearer pathways for deepening engagement at all levels of involvement within the community. With respect to this last point, it is important to recognise how much the Centre relies on the involvement of volunteers across all its activities.

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As well as being crucial to the successful operation of the Centre, this is also a vital way for people to deepen their Sangha connections and feel part of the community.

Dana Economy

As part of our Buddhist practice we operate a ‘Dana Economy’ based on generosity (dana), where most of our meditation and Buddhism events are provided without charge, with participants given the opportunity to donate to the Centre rather than paying a fixed fee for attendance.

The aim is for our courses, classes, retreats and events to be available to a wider range of people enabling them to attend, regardless of their financial situation. However, those that do have the financially means, are encouraged to donate to the running of the Centre, when regularly attending Buddhist Centre activities.

The Dana Economy also relies on committed community (Sangha) members contributing financially through regular monthly donations. As a result of the successful fundraising appeal in October 2024, these regular donations increased 20% year-on-year (from £56K in 2024 to £66K in 2025).

This was offset by a slight decrease in Dana from events held at the Centre (from £63K in 2024 to £60K in 2025), which can be attributed to an extremely successful one-off Skills Auction held in 2024, with no comparable event in 2025.

There was also a decrease in Gift Aid payments from HMRC (£28K in 2024 vs £24K in 2025). Note that 2025 includes estimated elements for FY 25-26.

Financial Review

Both income and expenditure in 2025 were close to forecast, though our final accounts show a deficit for the year of £7,920 (compared to a small surplus of £2,043 in 2024).

Both total income and expenses were down compared to 2024, with the major factor being a grant in 2024 of £38,400 from Amey Community Fund for some essential building repointing, and the corresponding expenses for that building work. If these designated funds from 2024 are excluded, income increased from £271,078 in 2024 to £280,811 in 2025 (a 4% increase) while expenses increased from £273,211 in 2024 to £288,731 in 2025 (a 6% increase).

The dominant factor in the increase in expenses was a 10% increase in the cost of supporting centre workers. This was up from £117,522 in 2024 to £129,296 in 2025, largely driven by an above inflation increase in the minimum wage and in Employers NIC.

Staffing

Staffing levels were stable throughout 2025, with seven staff members (6.5 FTE) running the centre. Five members of the team were full time; including the chair, men’s and women’s mitra convenors and centre manager. Two members of the team worked part time.

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Management and Governance Arrangements

Recruitment and appointment of New Trustees

The governing document allows a minimum of 5 and a maximum of 15 trustees. New trustees are appointed following discussion between existing trustees, to ensure that they are in harmony with the aims of the charity. In practice, this means that trustees are selected from the pool of members of the Triratna Buddhist Order within Cambridge (approximately 120).

New trustees are given a copy of a guidance document outlining their responsibilities (incorporating material from The Essential Trustee), and a copy of the governing document. In some cases, they are invited as a guest to a trustees’ meeting beforehand, so that they can witness the operation of the meetings.

Regular trustee meetings were held in 2025, in addition to an AGM held on 29[th] October 2025. There were several changes to trustees in 2025, with a new secretary and treasurer being elected (Ms Jacqui Ensom (Saccakhema) and Dr Miriam Brod (Jnanarati) respectively), the resignation of the outgoing treasurer Mr John Turner (Sarvajit) and of Mr Santosh Kamble (Sanghanath), and also sadly the death of Ms Eileen Merryweather (Mokshacara).

Risk management

The trustees have a duty to identify the risks to which the charity is exposed, and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The major financial risk relates to our exposure to variations in the level of donations from individuals. The emphasis on encouraging regular members of the Sangha to set up monthly donations is designed to make the income from donations more predictable, rather than relying on donations from specific events.

The major operational risk is our reliance on volunteers for all the core teaching activities, as our Buddhist teachers are not paid for their services. However, the use of volunteer teachers does have the benefit of allowing us to provide the ‘Dana economy’ since we are not incurring any additional costs when we put on a new course. We benefit from a large pool of people who are able to teach at the centre.

The maintenance of an old, listed building is a constant challenge. A healthy Designated Maintenance fund (currently standing at £22K) gives confidence that we have the resources to cover most unforeseen building repairs.

Safeguarding

Our Adult Safeguarding policy and Child Protection Policy are regularly reviewed and both policies are available on our website.

The Safeguarding Officer of Cambridge Buddhist Centre is responsible for coordinating the protection of children and adults who may be at risk at the Cambridge Buddhist Centre. The Safeguarding Officer changed from Gillian Thomas (Padmajata) to Ian White (Tejasiddhi) in May 2025.

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The Safeguarding Trustee of Cambridge Buddhist Centre is responsible for making sure safeguarding is taken seriously by the Trustees and appears regularly on their agendas, ensuring the trustees comply with their Safeguarding obligations as required by the Charity Commission. This role was covered by the Chair (Keturaja) during 2025.

Reserves policy

The trustees see it as their responsibility to hold adequate reserves for the charity to function properly, and to cover unexpected temporary interruptions in centre income. The adequacy of the reserves policy is reviewed annually. The income of the Cambridge Buddhist Centre comes from: donations, bodywork classes, rent from the investment property, donations from classes and events, the gift shop, fundraising events, and other income such as from room hire.

There is variability in income depending on what events are held, and the level of attendance. On the other hand, the major expenses are largely fixed and non-discretionary: personnel support and related expenses, as well as Centre running and maintenance costs. Therefore, to maintain liquidity and avoid making staff redundant, the CBC needs to hold a substantial reserve. As such, the trustees usually plan to hold the equivalent of between 3 to 6 months expenditure as an available reserve. At the end of 2025, our unrestricted cash reserves, at £88K, were equivalent to 3 3/4 months’ worth of expenditure.

We aim to hold at least £20K for unexpected building maintenance on the centre, since this is the most likely source of unexpected expense. However, this money is also available for other Centre expenditure should it be needed in an emergency. At the end of 2024 this stood at £22K.

Contributions from individual donors continued to be managed in restricted “benevolent funds”, the aims of which was to build funds for the long-term well-being and Buddhist practice of a Triratna Order Member who had previously been the Chair of our charity (in the case of the “Ruchiraketu Benevolent Fund”) and for Triratna Order Members who are former employees / significant volunteers of the charity (in the case of the “CBC Benevolent Fund”). Payments from these funds are as decided by the trustees, in line with the objectives and activities of the charity.

Staff, Trustees and Related Party Transactions

The charity employed an average of seven employees during the year (6.6 FTE). No employee received remuneration of more than £60,000 per annum.

The charity contributes to a NEST pension scheme for employees who meet the statutory eligibility criteria. Employer pension contributions are disclosed separately within the notes to the Statement of Financial Activities.

Three trustees were also employed by the charity during the year: the Chair, Mr Mike Silver (Keturaja), and the two Mitra Convenors, Mr James Sessions (Arthasiddhi) and Ms Elkie Wootton (Amarachandra). They were remunerated solely in their capacity as employees, as permitted by the charity's governing document. No trustee business expenses were incurred during the year.

The charity made donations to other Triratna Buddhist Community organisations in furtherance of its charitable objectives. These included its annual contribution to the Triratna Development Team and donations from the restricted Benevolent Fund to Ruchiraketu, a local Triratna Order

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Member and former Chair of the charity, in accordance with the wishes of those who established the fund.

Mr Mike Silver (Keturaja) is also a trustee of the Windhorse Trust, the charity that owns 38 Newmarket Road, Cambridge, from which the Cambridge Buddhist Centre operates.

There were no other related party transactions requiring disclosure.

The fee payable to the Independent Examiner in respect of the 2025 financial statements was £350.

Approval of the Trustees’ Report

This report was approved by the trustees and signed on their behalf

………………………………………………….

Dr Miriam Brod (Jnanarati) Treasurer

Date: ............................................... 26th August 2026

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Indepfrndont •xamlnefs rèport to tho trustees olTrlratna Cambrfdgo I report lo Ihe trustees on my examination of the a¢o)unts of Triratna Cambridge for the year ended 31 December 2025. Responsibilities and basis of report As the tharity trustees of th8 Trust you are responsible for the preparation of the accounts in accordanc8 With the requirements of the Charities Act 20111.the Act'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out ffly examination I have followed all the applicable Oirections given by the Chaity Cornmission under section 14515llbl of the AGI. Indepenilent examlner's statement I have completed my examinatk)n. l confirm that no material matters have come to my attention In ¢onnedon with the examinatk)n glving me Cause to believe that in any material respect". 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act.. or 2. the a￿OUnts do not awrd with those ￿COrdS.. or 3. the accounts do not comply with the applicable requirements conceming th8 fortn and Gonlent ol acGountS Set out in the Charitie5 IAccounts 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 exarninalion. I have no concems and have come across no olher matters in connection with the examination to which attention Should be diawn in thi5 rewrt to enable a proper understanding of the accounts to be reached. Signed.. Kl,.Ll. G Nicholas Gray. FMAAT Adhisthana Coddington Court Ledbury Herefordshire HR8 1JL August 2026 Page 9 of 13

The financial statements were approved by the trustees on…………………. 26th August 2026

……………………………………………….. Dr Miriam Brod (Jnanarati) Treasurer

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Triratna Cambridge {known as Cambridge Buddhist Centre) Registered charity number: 297894 Balance Sheet As at 31 December 2025 2025 2024 Note Fixed assets Tangible assets I nvestment Property Total fixed assets io li 27,895 496,000 523,895 37,433 496,000 533,433 Current assets Cash and cash equivalents Debtors= amounts due within one year Stock Total current assets 171,209 22,496 5,030 198,735 132,132 62,889 4,136 199,157 12 Creditors- amounts due within one year 13 2,225 5,012 Net current assets 196,510 194,145 Total net assets 720,404 727,578 Represented by: Charlty Funds Unrestricted / general Designated / maintenance Restricted I benevolent Total fund5 639,694 21,791 58,919 720,404 646,868 21,791 58,919 727,578 Page 11 of 13

Note5 to the Statement of Financial Acll¥llles 2025 2024 Incomlrbg resources l. DonatlOn5 and legacie5 Donations- unrestricted Donations- restricted 150,874 7,200 158.074 146,648 7,2(KJ 153,848 2. Charltable actfvltl•s Mindfulness cour5e5 1 retreats Bodywork Bookshop SchoDI visits 15,170 43,852 5,818 1,093 65.932 15,010 46,464 4,889 67,011 3. Othèr tradlng actlvltlès CBC rental income Second hand book sales 12,274 657 12,932 10,335 1,245 11,580 4. Investment Incorne 4,076 39,797 43.873 714 37,925 38,639 Investment property income 5. Grants rètdvablÈ Grants 38,4rKJ 38,4 Resourc•s •xpend•d Charitable expenses.. 6. Buddhist Centre staff costs (excluding pensions) Pensions Publicity Bodywork Vehitles Èor>kghop expenses 122,183 7,114 3,864 22,320 110,871 6,651 3,993 20,193 2,770 158.250 1,932 144,008 7. Support for Buddhlst acllvltlgs Triratna gifts & donation5 Benevolent fund staff retreats & training 10,670 7,200 6,497 24.368 10,026 7,2CKI 8,478 25,704 8. mat)8￿￿￿nI and •dmlntstratlon Building maintenance lunrestrictedl Buildin8 maintenance Idesignatedl Depreciation Office costs (including bank charges) Insurance & professional fees 10,146 9,435 34,224 12,777 30,888 12,644 99,968 11,580 32,576 6,689 60.991 9. Ralslng Funds Event I retreat expenses Inve5trnent property 24,502 20,620 45,122 21,385 16,369 37,754 Page 12 of 13

Notes to the Balance Sheet

10. Tangible assets

10. Tangible assets
Cost or valuation At 1 January 2025 Additions At 31 December 2025 Depreciation At 1 January 2025 Charge for the year At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 11. Investment property 65 Abbey Road 12. Debtors: amounts due within one year Accrued income Trade debtors Prepayments Staff loan 13. Creditors: amounts due within one year Trade creditors (including credit card) HMRC: PAYE/NI NEST: pensions Deposits received (key fobs) Accruals	Property Furniture and equipment Total 2025 2025 2025 £ £ £ 162,310 102,817 265,127 1,200 841 2,041
	163,510 103,658 267,168
	125,148 102,545 227,693 11,308 272 11,580
	136,456 102,817 239,273
	27,053 841 27,895
	37,161 272 37,433
	2025 2024 £ £ 496,000 496,000 20,000 58,265 1,080 4 1,416 4,270 0 350 22,496 62,889 315 274 0 2,069 0 574 1,910 1,845 0 250 2,225 5,012

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