REGISTERED CHARITY NUMBER: 328302 Report of the Trustees and Unaudited Financial Statements forthe Year Ended 31 March 2024 MAHASI DHAMMA FELLOWSHIP Butterworth Barlow Chartered Accountants Butterworth Barlow House 10 Derby Street Prescot Liverpool Merseyside L34 3LG MAHASI DHAMMA FELLOWSHIP Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activitie5 Balance Sheet Notes to the Financial Statements 6 to 10 Detailed Statement of Financial Artivities li MAHASI DHAMMA FELLOWSHIP Report of the Trustees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP} 'Accounting and Reporting, by Charities, issued in March 2005. OBJECTIVES AND ACTIVITIES Objectives and aims To advance and promote the Buddhist faith and in particular Theravada Buddhism and to make provision for religious ceremonies. To establish a centre for the activities of the Mahasi Dhamma Fellowship to be known as the Mahasi Meditation Centre and of such other centres for the above purposes as shall be necessary. The charity airn5 to achieve the means to satisfy these objectives via donations, fundraising activitie5 and proceeds from religious festivals and retreats held during the year. The Buddhist faith is being promoted through the celebration of religious festivals and the provision of long term and Short term retreat5. FINANCIAL REVIEW Reserves policy The charity aims to build up and maintain sufficient cash reserves in its General Fund to enable it to continue to pay it5 running costs for 6 months. The charity is also building up reserves to enable it to acquire separate accommodation for the monks. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Mahasi Dhamma Fellowship is a Charitable Trust constituted by a Trust Deed dated 6 July 1989 and is registered under the Charities Art 1993. Organisational structure The Charity is managed by a management committee consisting of 9 trustees and a Treasurer. The committee meets regularly and its members manage the day to day operations of the charity- Members are appointed from within the Buddhist faith cornmunity. Chairman.. Dr Kyaw Thet Tun Treasurer: Mr5 Thiri Mo Soe Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable a55urance against fraud and error. REFERENCE AND ADMINISTRATIVE D￿AlL5 Registered Charity number 328302 Page I MAHASI DHAMMA FELLOWSHIP Report of the Trustees for the Year Ended 31 March 2024 Principal address 420 Lower Broughton Road Salford Manchester M7 2GD Trustees Dr Thang Maung Lwin Dr Than Kyaw Dr Tin Mihn Aung Dr Thida Than (deceased 7.5.241 Dr Min Min Latt Mr KyawTun Soe Dr Ko Ko Lay {resigned 3.9.231 Dr Nyunt Han Mrs Chit Chit Tin-u Dr Thaw Si Htin (appointed 3.9.231 Independent Examiner Butterworth Barlow Chartered Accountants Butterworth Barlow House 10 Derby Street Prescot Liverpool Merseyside L34 3LG Approved by order of the board of trustees on 2 December 2024 and signed on its behalf by= Dr Tin Mihn Aung- Trustee Page 2 Independent Examiner's Report to the Trustees of Mahasi Dhamma Fellowship Independent examiner's report to the trustees of Mahasi Dhamma Fellowship I report to the charity trustees on my examination of the accounts of Mahasi Dhamma Fellowship Ithe Trust) for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Att'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Act. 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= accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Report51 Regulation5 2(KJ8 other than any requirement that the account5 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 thi5 report in order to enable a proper understanding of the accounts to be reached. J4 rwo Butterworth Barlow Butterworth Barlow Chartered Accountants Liverpool L34 3LG 2 December 2024 Page 3 MAHASI DHAMMA FELLOWSHIP Statement of Financial Artivities for the Year Ended 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 70,647 51.394 Investment income 834 272 Total 71,481 51.666 EXPENDITURE ON Raising funds 8.867 2,996 Charitable activities General Fund 49.127 43.052 Total 57.994 46,048 NET INCOME 13.487 5.618 RECONCILIATION OF FUNDS Total funds brought forward I,CM)5,932 1,000.314 TOTAL FUNDS CARRIED FORWARD 1,019.419 1.005,932 The notes form part of these financial statements Page 4 MAHASI DHAMMA FELLOWSHIP Balance Sheet 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes FIXED ASSETS Tangible assets 862,479 871,371 CURRENT ASSETS Cash at bank 158,260 135.713 CREDITORS Amounts falling due within one year 11,3201 11,1521 NET CURRENT ASSETS 156,940 134,561 TOTAL ASSETS LE￿ CURRENT LIABILITIES 1,019.419 1,005.932 ASSETS 1,019.419 1.005,932 FUNDS Unrestricted funds 1,019,419 1,005,932 TOTAL FUNDS 1.019,419 1,005,932 The financial statements were approved by the Board of Trustees and authorised for issue on 2 December 2024 and were signed on its behalf by= DrTin Mihn Aung-Trustee The notes form part of these financial statements Page S MAHASI DHAMMA FELLOWSHIP Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basi5 of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to 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 accrua15 basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direttly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Straight line over 15 years Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the object5 of the charity. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 continued... MAHASI DHAMMA FELLOWSHIP Notes to the Financial Statements- continued for the Year Ended 31 March 2024 INVESTMENT INCOME 31.3.24 31.3.23 Interest on cash deposits 834 272 RAISING FUNDS Investment management costs 31.3.24 31.3.23 Property repairs 8,867 2.996 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expense5 paid for the year ended 31 March 2024 nor forthe year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A￿1VITIEs Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 51,394 Investment income 272 Total 51,666 EXPENDITURE ON Raising funds 2,996 Charitable activities General Fund 43,052 Total 46,048 NET INCOME 5.618 RECONCILIATION OF FUNDS Total funds brought forward 1.000.314 Page 7 continued... MAHASI DHAMMA FELLOWSHIP Notes to the Financial Statements- continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES- continued Unrestricted fund TOTAL FUNDS CARRIED FORWARD 1.005,932 TANGIBLE FIXED A￿ET$ Freehold property COST At l April 2023 and 31 March 2024 889,154 DEPRECIATION At l April 2023 Charge for year 17.783 8.892 At 31 March 2024 26.675 NET BOOK VALUE At 31 March 2024 862,479 At 31 March 2023 871,371 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other creditors 1,320 1,152 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 1,005,932 13.487 1.019,419 TOTAL FUNDS I,CKJ5,932 13,487 1,019,419 Page 8 continued... MAHASI DHAMMA FELLOWSHIP Notes to the Financial Statements- continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resource5 Resources expended Movement in funds Unrestricted funds General fund 71.481 157,9941 13,487 TOTAL FUNDS 71,481 157.9941 13,487 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,000,314 5,618 1,005,932 TOTAL FUNDS I,¢XJO.314 5.618 1,005,932 Comparative net movement in funds. included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund 51,666 146,0481 5,618 TOTAL FUNDS 51,666 146,0481 5,618 Page 9 continued... MAHASI DHAMMA FELLOWSHIP Notes to the Financial Statements- continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrirted funds General fund 1,000.314 19,105 1.019,419 TOTAL FUNDS I,CM)0.314 19,105 1.019,419 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund 123,147 1104,0421 19,105 TOTAL FUNDS 123,147 (104.0421 19,105 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 10 MAHASI DHAMMA FELLOWSHIP Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Appeals and donations Gift aid 60,010 10,637 39,429 11,965 70,647 51.394 Investment income Interest on cash deposits 834 272 Total incoming resources 71.481 51,666 EXPENDITURE Investment management costs Property repairs 8,867 2.996 Charitable activities Volunteer expenses Rates and water Insurance Light and heat Telephone Postage and stationery Ceremonies Sundries Accountancy Bank charges 3,600 3,019 1,307 10,800 498 488 15,022 3,585 1,320 596 3,900 3.044 1.088 11,815 427 31 2.614 9,560 1,152 529 40.235 34,160 Support costs Finance Depreciation of tangible fixed assets 8,892 8,892 Total resources expended 57,994 46.048 Net income 13,487 5,618 This page does not form part of the statutory financial statements Page 11