REGISTERED CHARITY NUMBER: 328302
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
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 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
MAHASI DHAMMA FELLOWSHIP
Report of the Trustees for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) '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 aims to achieve the means to satisfy these objectives via donations, fundraising activities 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 retreats.
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 its 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 Act 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 community.
Chairman: Dr Kyaw Thet Tun
Treasurer: Mrs 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 assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
328302
Page 1
MAHASI DHAMMA FELLOWSHIP
Report of the Trustees for the Year Ended 31 March 2025
Principal address
420 Lower Broughton Road Salford Manchester M7 2GD
Trustees
Dr Thang Maung Lwin Dr Than Kyaw Dr Tin Mihn Aung (resigned 30.9.25) Dr Thida Than (resigned 7.5.24) Dr Min Min Latt Mr Kyaw Tun Soe Dr Nyunt Han Mrs Chit Chit Tin-U Dr Thaw Si Htin Dr Thein Tun Ohn (appointed 2.6.24)
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 8 January 2026 and signed on its behalf by:
Dr Thang Maung Lwin - 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 (the Trust) for the year ended 31 March 2025.
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 2011 ('the Act').
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 145(5)(b) 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 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.
Butterworth Barlow
Butterworth Barlow Chartered Accountants Liverpool L34 3LG
8 January 2026
Page 3
MAHASI DHAMMA FELLOWSHIP
Statement of Financial Activities for the Year Ended 31 March 2025
----- Start of picture text -----
31.3.25 31.3.24
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 68,182 70,647
Investment income 2 1,613 834
Total 69,795 71,481
EXPENDITURE ON
Raising funds 3 6,032 8,867
Charitable activities
General Fund 61,142 49,127
Total 67,174 57,994
NET INCOME 2,621 13,487
RECONCILIATION OF FUNDS
Total funds brought forward 1,019,419 1,005,932
TOTAL FUNDS CARRIED FORWARD 1,022,040 1,019,419
----- End of picture text -----
The notes form part of these financial statements
Page 4
MAHASI DHAMMA FELLOWSHIP
Balance Sheet 31 March 2025
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31.3.25 31.3.24
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 6 853,588 862,479
CURRENT ASSETS
Debtors 7 4,250 -
Cash at bank 168,902 158,260
173,152 158,260
CREDITORS
Amounts falling due within one year 8 (4,700) (1,320)
NET CURRENT ASSETS 168,452 156,940
TOTAL ASSETS LESS CURRENT LIABILITIES 1,022,040 1,019,419
NET ASSETS 1,022,040 1,019,419
FUNDS 9
Unrestricted funds 1,022,040 1,019,419
TOTAL FUNDS 1,022,040 1,019,419
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The financial statements were approved by the Board of Trustees and authorised for issue on 8 January 2026 and were signed on its behalf by:
Dr Thang Maung Lwin - Trustee
The notes form part of these financial statements
Page 5
MAHASI DHAMMA FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis 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 (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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 accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly 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 11 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 objects of the charity. Restrictions 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.
continued...
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MAHASI DHAMMA FELLOWSHIP
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME |
|
|---|---|
| Interest on cash deposits | 31.3.25 31.3.24 £ £ 1,613 834 |
| 3. RAISING FUNDS Investment management costs Property repairs |
31.3.25 31.3.24 £ £ 6,032 8,867 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities General Fund Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
Unrestricted fund £ 70,647 834 71,481 8,867 49,127 57,994 13,487 1,005,932 |
|---|---|
continued...
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MAHASI DHAMMA FELLOWSHIP
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS COST At 1 April 2024 and 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 £ Prepayments and accrued income 4,250 |
Unrestricted fund £ 1,019,419 Freehold property £ 889,154 26,675 8,891 35,566 853,588 862,479 31.3.24 £ - |
|---|---|
continued...
Page 8
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
MAHASI DHAMMA FELLOWSHIP
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 9. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.4.24 £ 1,019,419 1,019,419 Incoming resources £ 69,795 69,795 At 1.4.23 £ 1,005,932 1,005,932 |
31.3.25 £ 4,700 Net movement in funds £ 2,621 2,621 Resources expended £ (67,174) (67,174) Net movement in funds £ 13,487 13,487 |
31.3.24 £ 1,320 At 31.3.25 £ 1,022,040 1,022,040 Movement in funds £ 2,621 2,621 At 31.3.24 £ 1,019,419 1,019,419 |
|---|---|---|---|
continued...
Page 9
MAHASI DHAMMA FELLOWSHIP
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 71,481 (57,994) TOTAL FUNDS 71,481 (57,994) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 1,005,932 16,108 TOTAL FUNDS 1,005,932 16,108 |
Movement in funds £ 13,487 13,487 At 31.3.25 £ 1,022,040 1,022,040 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 141,276 (125,168) |
Movement in funds £ 16,108 |
|---|---|---|
| TOTAL FUNDS | 141,276 (125,168) |
16,108 |
continued...
Page 10
MAHASI DHAMMA FELLOWSHIP
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 11
MAHASI DHAMMA FELLOWSHIP
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
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31.3.25 31.3.24
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Appeals and donations 58,534 60,010
Gift aid 9,648 10,637
68,182 70,647
Investment income
Interest on cash deposits 1,613 834
Total incoming resources 69,795 71,481
EXPENDITURE
Investment management costs
Property repairs 6,032 8,867
Charitable activities
Volunteer expenses 3,600 3,600
Rates and water 3,191 3,019
Insurance 1,383 1,307
Light and heat 17,009 10,800
Telephone 427 498
Postage and stationery 431 488
Ceremonies 15,875 15,022
Sundries 8,372 3,585
Accountancy 1,410 1,320
Bank charges 552 596
52,250 40,235
Support costs
Finance
Depreciation of tangible fixed assets 8,892 8,892
Total resources expended 67,174 57,994
Net income 2,621 13,487
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This page does not form part of the statutory financial statements
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