Charity Number: 514937
## Manchester Buddhist Centre
Report and financial statements For the year ended 31st December 2020
Manchester Buddhist Centre
Reference and administrative information
for the year ended 31[st] December 2020
**Charity number** 514937 **Registered office and operational address** 16/20 Turner Street, Manchester, M4 1DZ **Trustees** Trustees who served during the year and up to the date of this report were as follows: Chris Effendowicz (Silabodhi) Chair Mark Leech (Mahasraddha) Treasurer Judith Tomlinson (Acharashraddha) To January 2021 Christina Robertson (Dayanandi) Andrew Porritt (Dharmachari Prasadu) Ursula Tidd (Dharmakarunya) Keith Green (Vishangka) Stuart Orvis (Chandana) Ajay Gilbert (Aparajita) **Bankers** Royal Bank of Scotland Cooperative Bank
**Independent** Christy Lau FCCA CTA DChA **Examiner** Slade & Cooper Limited Beehive Mill, Jersey Street, Ancoats Manchester, M4 6JG
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## Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
The Trustees present their report and the unaudited financial statements for the year ended 31[st] December 2020.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity’s trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The purpose of the Manchester Buddhist Centre is set out in its governing document as follows:
## **The advancement of the Buddhist religion in particular by:**
- i. Encouraging members and others to live in accordance with the teachings of the Buddha.
- ii. Supporting ordained members of the Triratna Buddhist Community and other duly ordained Buddhists at the discretion of the association.
- iii. Maintaining close communication with and working under the guidance of the Triratna Buddhist Order and in cooperation with other groups with the same objectives.
- iv. Using applications of the Buddha’s teaching to promote the health and well-being of all.
The main activities undertaken by the MBC in relation to the above purpose (as registered with the Charities Commission) are described as follows:
“The Manchester Buddhist Centre provides a place of peace in Manchester. We offer classes in meditation and Buddhism for Buddhists and non-Buddhists and, for those who ask for it, training for ordination. We welcome schools and community groups, having developed a reputation for excellence.”
The main activities undertaken to further the charity’s purposes for public benefit include:
**NB. Because of the variable Pandemic restrictions in place during 2020 some of these services were only available at certain periods in the year or were temporarily suspended. Others continued, but may have moved permanently of temporarily online** .
- The provision of space with seating and free tea/coffee available to Buddhists and non-Buddhists (general public) to meet informally
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Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
- A shop selling educational Buddhist literature, Buddhist ritual items and ethical giftware
- A website providing information and an extensive variety of free talks (about Buddhism) which can be downloaded, and free Buddhist study materials
- Provision of rental space to ethical businesses directly or indirectly supportive of the advancement of Buddhism and/or the Buddha’s teaching to promote the health and well-being of all (Breathworks, Clear Vision Trust, Bodywise Health Centre, Earth Vegetarian Café)
- A free Buddhist library – available as a reference library to the general public and as a lending library to members of the MBC
- Two meditation halls/shrine rooms open and free to the general public who wish to meditate (when not otherwise used for classes)
- A weekly ‘Tools for Living Your Life’ (meditation and Buddhism) class every Saturday morning.
- Several weekly Order Chapter meetings
- Several weekly ‘Training for Ordination’ groups for men who have requested ordination into the Triratna Buddhist Order
- Several weekly ‘Training for Ordination Groups’ for women who have requested ordination into the Triratna Buddhist Order
- The ritual celebration of 4 key Buddhist festivals throughout the year
- Numerous weekly/monthly/occasional groups directly and indirectly related to the application of Buddhist teachings (Young Buddhists Group, Poetry Groups, Fundraising Kula etc)
- A school/college visits service introducing pupils and students to the key principles of Buddhism
- Many Buddhist study groups (following a set syllabus) each week throughout the year
- Several Buddhist meditation retreats throughout the year.
- Many weekend events directly or indirectly related to the practice and application of Buddhism (arts, study, meditation etc)
- Introductory Meditation evening courses.
- Introductory Buddhism evening courses.
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Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
- Follow-on Buddhism evening courses.
- Weekly ¾ hour-long lunchtime drop-in meditation classes.
- Monday night 1.5 hour-long deepening meditation classes with visiting leaders.
- Several online gatherings for people looking at deepening their Buddhist practice
- 3 Buddhist residential communities enabling members of the MBC to live and practice the Dharma together
- Numerous volunteering opportunities enabling active engagement and participation in the development and life of the Triratna Buddhist Community in Manchester (reception, cleaning, maintenance, shrine-making, decorating, teaching, studyleading, class-supporting, leading and supporting retreats, managing the library, managing the second-hand bookshop, fundraising, administration, office work support etc).
- Occasional meditation and mindfulness sessions for local businesses.
- The MBC rents premises to two ethical businesses sympathetic to and consistent with our charitable aims: Bodywise Natural Health Centre and Breathworks. The Café was untenanted through 2020. During 2020 an ethical fast -fibre business also began to rent the small 3[rd] floor MBC office. Rental income also comes from the top floor men’s residential community and two residential Buddhist community houses, one for women’s and one for men.
The Trustees review the aims, objectives, and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.
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Manchester Buddhist Centre
Trustees’ annual report
for the year ended 31[st] December 2020
## **Achievements and performance**
## **Chair’s annual report for year ending 31 December 2020**
This year’s report is unfortunately highly delayed owing to the many constraints placed upon the MBC by the pandemic and the consequent lock-downs. As a result, that also means the period of Jan to Dec 2020 seems somewhat remote and overshadowed by subsequent events, many along the same lines.
The early part of the year was proceeding fairly normally with the Urban retreat, the continuing success of the ‘Up Close & Personal’ interview evenings, and most Chapters, GFR groups and study groups meeting at the MBC as usual. Regarding the Centre’s finances, break-even had been achieved or was soon to be so.
Then the world changed, and with the full seriousness of the growing pandemic finally comprehended, the first national lock-down was announced for the 23[rd] of March, and in response the MBC also closed its doors, and for the first time in approximately 23 years it did so for an unknown length of time!
Team meetings immediately became virtual, utilising the excellent if comparatively unknown medium of Zoom. The whole Sangha entered a territory apparently alien to its whole reason for being and experienced an existential threat that fortunately its strength and cohesion ultimately overcame.
Moksavadini, the then Finance Manager and I responded to an offer of a Triratna centres’ finance support meeting with a team from the London Buddhist Centre, which confirmed two important matters that I already strongly suspected: first, that our accounting system and financial awareness was very good, but second that our centre was ‘top heavy’ with staff costs and thus flagged as at considerable financial risk in the coming period. Earth café had already closed and would never reopen, Bodywise and Breathworks rents were to be reduced, and eventually for its own reasons, Clear Vision closed and vacated their office: income was under severe threat. At least we were able to negotiate an’ interest only’ deal with the communities’ mortgage provider for a year, though we were never able to obtain any government backed grants.
Immediately the MBC had to swing into action to facilitate, as far as was possible, the continued services that it traditionally offered to the Sangha. The Dharma and meditation courses quickly moved online. The team rapidly took advantage of the government’s furlough scheme, though in retrospect, despite the financial good sense of this move, it was perhaps done a little too swiftly and without sufficient consultation. This scheme, though a lifesaver monetarily, over time introduced some considerable psychological strains into the otherwise harmonious MBC team. Three staff were furloughed immediately, with five more following at the beginning of May.
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## Manchester Buddhist Centre
## Trustees’ annual report
## for the year ended 31[st] December 2020
What was unknown at the time was the effect of placing valued members of staff on indefinite paid leave. What sounds like an idyllic holiday was, for some, experienced as a rejection of worth. Indeed, we brought in Shantigarbha to help us open up and talk through the often-difficult feelings that arose, especially between those who continued working and those now furloughed.
During the early period three senior order members were also tasked with thinking through the MBC’s possible procedures and response if, as feared, Sangha members might contract Covid and die. It is perhaps testament to the very sensible behaviour of our Sangha members that this did not happen.
At the start of June, a new Monday evening ‘Taking Meditation Deeper’ event was launched online. These sessions, still running today, feature wonderful contributions from order members in the UK and Europe, leading practices that they are really inspired by, be that Metta, Insight or Absorption and more. These weekly events now attract participants from a wide geographical area.
In July, in response to the killing of George Floyd earlier in May, the Buddhist Centre Online and our Sangha responded in many ways to open up the urgent debate on race, reading modern works around the subject and openly holding debates on historical injustices and POC lack of access to our movement.
To help maintain Sangha integrity and friendship every two weeks online Friday Sangha nights began, first with a fantastic eight-week series of talks by Ratnaguna, after which Mahasraddha and Taravandana took on the leadership and design of these valuable cohesive events.
In August the difficult process of planning for a reduction in MBC staffing began, with a new team structure proposed. Around this time Vidyapala, our Comms Manager announced he was leaving for another job, and we learnt Chandana and Moksavadini would be retiring in mid-2021 with Sal’s fund-raising contract ending then too. Though helpful to cost reduction and newer team structures, these losses would be sad events for many of us.
In August the Sangha raised donations for Patricia in response to the closure of Earth café after ten years, and at the same time we were happy to announce that OneTek, out fast fibre providers, were to begin renting the former Clear Vision office from September; they have been model tenants ever since. Further happy news came in the form of Tom Connolly being appointed to the Comms role
On the first of September the Centre joyfully reopened but we also heard that our highly valued Women’s Mitra Convenor Acharashraddha had decided to step down in May 2021.
As the year began to wind down energy was returning to the Centre. A Sangha walking group climbed Cader Idris, two men and two women returned from Ordination, a further invitation was announced, and possible new café space options were unfolding. Sadly, on
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## Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
the 5[th] of November another Lock-down ensued, and the MBC closed again. Fortunately, we were just able to celebrate the public ordination of Buddhamaitri by Padmavajra in the Lotus Hall before this happened.
Still, we were by now all experts at online activities and energy kept flowing in this medium despite the now ‘flexible furlough’ of the whole team. The second ever ‘Compassion in Action’ Dharma course began on zoom, Lynne-Marie (Taralocana to be) and Chandana agreed to form the future Teaching Kula, a start for Fours Sides Pizza’s was agreed for the basement, and we began to sense a new energy arising in our home-grown Young Buddhists movement, which was very cheering.
At the end of the year Dayanandi announced a yearlong sabbatical for 2021, and she and Acharashraddha left the MBC trustees. At a similar time Amaradaya left his sadly short-lived role in charge of school visits.
All in all, it had turned out to be a tumultuous year, even including a new opening up of our shop on December 1[st] and reclosure on December the 23[rd] as the country entered yet another lock-down. Despite all of this, the Sangha had come through in remarkably resilient form, though 2021 had yet more in store for us!
## **Women’s Mitra Convenor annual report for year ending 31 December 2020**
This unusual year was a steep learning curve for many and the women in the Sangha rose to meet the challenge in creative ways. The year started in the usual way, with everyone meeting in person in the Buddhist Centre in their various groups, classes and at day events.
Then, of course, in mid-March we entered the first lockdown with the Centre closing and all contact with each other going on-line.
All the women's study groups and Training for Ordination groups started to meet on-line, and by the end of the year these meetings were well established and going well. There are currently 3 study groups and 3 post Mitra study groups and 5 TFO groups.
The Pre-Foundation group for those women still to join a study group was held monthly and led by Acharashraddha and Robin Ellis. This also went online. However,
when Acharashraddha was furloughed, Robin continued to lead the group and was joined by Varasakhi and then by Siladevi who co-led with her. This group bonded very well and was very successful in this online format.
At the start of lockdown, Taravandana offered to lead a weekly gathering on-line for women to enable connection and to share experience of this new situation. Dayanandi offered one
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## Manchester Buddhist Centre
Trustees’ annual report
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to one meditation reviews, sharing her depth of knowledge and experience too. Both of these generous offerings were much appreciated by those who took part.
The first Mitra Day of the year was held in the Centre on 26th January and was led by members of the Mitra Convening kula, Varasakhi, Dayanandi, Maitrinandi, Acharashraddha. Named 'Connecting Hands with Heart'. The theme was the The 1000 armed Avalokitesvara, who can be seen as a symbol for the whole Sangha devoted to the Bodhisattva Ideal. We explored how we each offer our talents and capabilities, sharing a common spiritual vision through talks, meditation and devotional practice. 26 women attended.
The next planned Mitra Day was on 29th March and this was converted to an online event at very short notice. Thanks to Taravandana, Khemasuri and the tech team for enabling this to happen. The theme was making travel Shrines. Everyone shared the beauty they had created at the end of the day. 9 women attended this creative day.
A Women's Gathering was held on 31st May for all women in the Sangha led by Suryaka and Padmadarshini called " Coming together with an open heart for one another and the world " a co-created gathering for women. Again, this was another important opportunity for women to come together and share their experience of being in lockdown and how their practice of the Dharma had been affected by that, both the challenges and joys.
Two very successful days for Women Training for Ordination were held in the autumn. On 6th September Taravandana led a day called 'Beauty as the Path to Freedom' with Wabi Sabi as the theme. She was supported by Liz Graham and Lisa Wilde skilfully hosting the tech and giving talks. 23 women attended. On 1st November, Dayanandi and Samantabhadri led a day on 'The Perfect Wisdom of Prajnaparamita'. Between 50 and 60 women attended at various points during the day. Both these events were very well received with much appreciation for the opportunity to connect with each other during this challenging year.
In November a weekend retreat was held online. This was the first time we had done an online retreat and it went very well indeed, beautifully led by Ratnagita, Vajramudita and Satyamuni. This team has been working together to explore their love of the Dakini and her qualities. This was the theme of the retreat and the team's love and shared commitment came through in talks, meditation, devotional practice and group discussions. 21 women attended.
In normal circumstances there would have been a Mitra Ceremony this year. However, after discussion with all involved it was decided to delay the ceremony until we could meet in person in the Shrine room, so Lizzy Sumner and Ellen MacPherson will have their ceremony in 2021.
Some joyous events to mention this year are that in April, Cia Vinten requested ordination. Three women received their invitations for Ordination into the Triratna Buddhist Order, Robin Ellis, Kirstine Pearson, Helen Sullivan.
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## Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
Two women were ordained in September at Adhisthana. Sandy Staplehurst becomes Suvannasiha and Gill Parry becomes Karunasuri. This remarkable event was held in person with a limited number of participants on-site at Adhisthana and the event live streamed worldwide. A significant event for all the Triratna community.
At the end of the year Dayanandi made preparations to start her one-year sabbatical and she stepped down from the Mitra Convening kula. The kula rejoiced whole-heartedly in her many merits and thanked her for all that she has given over many years. Again, the women's Sangha is hugely appreciative of Dayanandi and all the support that she gives, especially to the women training for ordination. It's been another successful year with 3 women receiving their ordination invitations. We all wish Dayanandi well for her sabbatical.
For myself as the Women's Mitra Convenor it has been a very different year, especially with being Furloughed from 1st May until the end of September and partially furloughed from 1st October onwards. The regulations for furlough enabled us to keep in contact with members of the Sangha because care and support for people was very important during this time. I kept in contact with women in the Sangha via phone, WhatsApp, socially distanced walks and zoom calls. My diary was full and I was happy to be able to offer that support.
Towards the end of 2020 I decided to step down as the Women's Mitra Convenor. This was a painful and difficult decision and was made for both personal and practical reasons. A process began at the end of 2020 to appoint my replacement, which will happen in early 2021. I will be happy to give any support needed to make the transition as smooth as possible.
Generally, the Women's Sangha adjusted well to the unusual situation in 2020, with some women feeling they could connect much more with our community online. For some people it has been a challenging year and they are keen to get back to the Centre and meet others in person.
I feel huge appreciation to all the women who have made adjustments to enable keeping connected online and especially to all the Dharmacharinis who have led events, study and groups this year.
Acharashraddha Women's Mitra Convenor
## **Men’s Mitra Convenor annual report for year ending 31 December 2020**
What a strange year 2020 was! Things appeared to be going along as usual and then....
The lockdown period for much of 2020, and the financial pressures this placed on the MBC, meant that I was furloughed for much of the year, and unable to take part in any 'official'
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## Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
Mitra Convening duties. However, the rules of furloughing meant that I could keep in informal contact with men in the sangha. This meant that I had regular individual meetings, initially online and then meeting in person for walks outside as the restrictions eased. I would say that myself and other Order members during this time kept in good connection with men in the sangha, supporting and connecting with each other during what has been a difficult period for many. My sense is that many friendships deepened during this period, a great testament to the connections between us in the Manchester sangha.
At the start of the year there was a plan to hold monthly men's gatherings at the MBC, where we could meet and practice together. Obviously, this plan had to change. We held an online gathering in May, led by Arthavadin. Towards the end of the year, we also held three Essential Dharma Training sessions, exploring the teaching of the 'true individual'. My thanks go to Ratnaguna, Arthavadin and Mahasraddha for helping to lead these sessions.
A weekend men's retreat was also held in late 2020. Led by Silabodhi and Vidyapala, the retreat was a mix of online sessions and in-person for a small number of men who were able to attend. Again, thanks to Silabodhi and Vidyapala for their help.
The three men's study groups continued to meet online. My sense from my own study group is that meeting online has enabled friendships between group members to deepen, and the groups have been an important part of helping men to keep connection with each other during the pandemic. I particularly want to highlight the success of the study group led by Upekshapriya and Sanghadhara. This group has really blossomed, and has become a real hub of newer men to our sangha practising the Dharma. From my conversations with the men involved I can really see how friendships are deepening between them, and the care and support they show to each other. Thanks to Upekshapriya and Sanghadhara for the commitment and friendship that they've shown to the men in the group. And many thanks too to Silabodhi, Mahasraddha and Amaradaya for their on-going commitment to their groups too.
The two going for refuge groups continued to meet online throughout 2020. These are important contexts for men training for ordination to meet each other and explore their Dharma practice together. Well done to all the men concerned for keeping the groups going through this period.
As the furloughing rules became more flexible later in the year, I spoke to both Dean Shiels and Stephen Jeffreys about becoming Mitras. We had a couple of planned dates for mitra ceremonies but had to keep postponing them due to restrictions from the worsening covid situation. It wasn't until 2021 that they could have the ceremony to become mitras! Well done to them both (and to Ivan and Michael who joined them in the wait in 2021) for their patience and for keeping their inspiration and practice alive during the wait.
There were two ordinations in 2020. On the ordination retreat held at Padmaloka in November, Alex Stirling became Shraddhavadin (he who communicates confidence in the
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Manchester Buddhist Centre
Trustees’ annual report
for the year ended 31[st] December 2020
Dharma), and Michael Proctor became Buddhasamagama (he who is with the Buddhas). I was privileged to attend the retreat and witness them joining our Order - a beautiful and special event during such difficult times. Mahasraddha was Private Preceptor to both men. Sadhu!
All in all, in spite of the strangeness of the year, 2020 has felt like a positive time for the men's sangha. I think we'll see the fruits of this in the coming years.
Vishangka
## **Safeguarding annual report for year ending 31 December 2020**
In 2021, Vishangka (who was then the Safeguarding Officer for the MBC) handed on the safeguarding responsibilities to me with good reporting and recording systems. In an otherwise uneventful year in safeguarding, I've concentrated on updating the documentation. Updating the training for all staff is the next step.
Sthirajyoti
## **Financial review**
## FINANCIAL REPORT 2020
In line with Government instructions around the Covid Pandemic, our Centre was closed for nine months of 2020. This has a major impact in these areas:
- Income from providing Dharma & Meditation Classes down from £60k to £31k
- Bookshop income down from £61k to £16k
- Room Hire income down from £10k to £4k
- Business rental income down from £48k to £26k
The immediate action we took, both as a Team and the wider Sangha had the effect of our finishing 2020 showing a surplus of £15,557:
- We gained a Mortgage holiday on our two Community Houses in Salford
- As fewer Team members we able to go away on retreats, this expense fell from £15k to £9k
- Payroll fell from £164k to £103k due to both lower staff numbers and the boost from the
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## Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
Government Furloughing Grant of £46k
- Fundraising increased by £6.5k in the year due to the confidence shown in us by our magnificent Sangha
- Rental income from the three Community Houses increased from £63k to £64k
Our cash reserves have increased from £62,177 to £109,344
The MBC’s main sources of our £236,647 income (excluding income from the Coronavirus Job Retention Scheme) during 2020 were from:
- Fundraising & Donations 39%
- Rental Income from Communities & Businesses 39%
- Dharma and Meditation Classes 13%
Our total expenditure was £221,090 (netting off income from the Coronavirus Job Retention Scheme) with the major areas being:
- Staff costs 51%
- Maintenance and associated costs of 16-20 Turner Street and the three Communities 34%
- Staff training allowance 4%
- Publicity 1.3%
As we enter 2021, we do so in a stronger position than at January 2020. There are major considerations to be aware of. The main to being:
- The Government’s Furlough Grant will end – requiring us to look to slim-down out Centre Team, and divesting the work to volunteers
- Earth Café and Clear Vision have closed – both business spaces have been filled, albeit at a lower rent
## **RESERVES POLICY**
Our Reserves Policy has been to hold funds sufficient to cover three months’ operating costs in the event of income sources being lower than forecast, or costs being higher than expected. The Trustees review this policy annually. Our current cash in hand and at bank is more than sufficient for this
At the balance sheet date, the charity’s total net assets were £776,040 of which £769,386 were unrestricted and £6,654 were restricted. The net book value of the tangible fixed assets of the charity was £725,275 of which £723,612 represents the net book value of the freehold building. This net book value of the freehold building and other tangible fixed assets can only be realised on disposal of those assets.
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Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
## **Structure, governance and management**
Potential new charity Trustees may be identified amongst the Membership of the Association (charity) and invited to consider joining the Council by the consensual agreement of the existing Council. Alternatively, Members of the Association may inform the Council that they wish stand for election to the Council at the Annual General Meeting.
Membership of the Council is open to members of the Association, in accordance with the policy for Membership of the Council, which is made available to any Member of the Association upon request.
Council Members serve as Trustees of the Association (charity) for a period of one year when they become eligible for re-election. All candidates for election to the Council must satisfy the Council that they are professed Buddhists supportive of the Triratna Buddhist Tradition and are able to fulfil the obligations of a Council Member. They are elected from a list of candidates agreed in advance by the Council.
Vacancies on the Council, including Officers, are filled during the year by co-option. Such members hold office until the next Annual General Meeting.
Officers are elected by the Council at the first Council meeting after the Annual General Meeting, and holds office for one year and then become eligible for re-election.
The organisation is an unincorporated charity, registered as a charity on 2 April 1984 in England and Wales.
The charity is constituted under a trust deed 17/12/2014. The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
All Trustees give their time voluntarily and receive no benefits from the charity. The Trustees have not claimed any expenses in 2020.
## **Funds held as custodian trustee on behalf of others**
The Charity does not hold funds as custodian trustee on behalf of others
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Manchester Buddhist Centre
## Trustees’ annual report
for the year ended 31[st] December 2020
## **Statement of responsibilities of the Trustees**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on its behalf by:
Silabodhi (Chris Effendowicz) (Chair)
31[st] October 2021
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## Manchester Buddhist Centre
## Independent examiner’s report
for the year ended 31[st] December 2020
I report on the accounts of the charity for the year ended 31[st] December 2020 which are set out on pages 16 to 34.
## **Responsibilities and basis of report**
As the charity’s Trustees 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’s accounts carried out under section 145 of the 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.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Christy Lau FCCA CTA DChA Slade & Cooper Limited Chartered Certified Accountants Beehive Mill Jersey Street Ancoats Manchester M4 6JG 31[st] October 2021
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## Manchester Buddhist Centre
## Statement of Financial Activities
## for the year ended 31 December 2020
|Unrestricted
funds
Note
£
**Income from:**
Donations and legacies
3
138,744
Charitable activities
4
144,040
Investments
5
35
**Total income**
**282,819**
**Expenditure on:**
Charitable activities
6
267,273
**Total expenditure**
**267,273**
7
**15,546**
Transfer between funds
-
**Net movement in funds for the year**
**15,546**
**Reconciliation of funds**
Total funds brought forward
753,840
**Total funds carried forward**
**769,386**
**Net income/(expenditure) for the**
**year**|Restricted
funds
£
11
-
-
**11**
-
**-**
**11**
-
**11**
6,643
**6,654**|Total funds
2020
£
138,755
144,040
35
**282,830**
267,273
**267,273**
**15,557**
-
**15,557**
760,483
**776,040**|_Total funds_
_2019_
_£_
_34,514_
_245,884_
_142_|
|---|---|---|---|
||||**_280,540_**|
||||_329,619_|
||||**_329,619_**|
||||**_(49,079)_**
_-_|
||||**_(49,079)_**
_809,562_|
||||**_760,483_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
16
## Manchester Buddhist Centre
## Balance Sheet
## as at 31 December 2020
|Note
£
£
**Fixed assets**
Tangible assets
10
725,275
**Total fixed assets**
**725,275**
**Current assets**
Stock
17,610
Debtors
11
2,763
Cash at bank and in hand
109,344
**Total current assets**
**129,717**
**Liabilities**
Creditors: amounts falling
due in less than one year
12
(36,104)
**Net current assets**
**93,613**
**Total assets less current liabilities**
818,888
Creditors: amounts falling
due after more than one year
13
(42,848)
**Net assets**
**776,040**
**Funds of the charity:**
Restricted income funds
14
6,654
Unrestricted income funds
15
769,386
**Total charity funds**
**776,040**
2020|_£_
_£_
_745,263_
**_745,263_**
_19,247_
_18,677_
_62,177_
**_100,101_**
_(35,804)_
**_64,297_**
_809,560_
_(49,077)_
**_760,483_**
_6,643_
_753,840_
**_760,483_**
_2019_|_£_
_£_
_745,263_
**_745,263_**
_19,247_
_18,677_
_62,177_
**_100,101_**
_(35,804)_
**_64,297_**
_809,560_
_(49,077)_
**_760,483_**
_6,643_
_753,840_
**_760,483_**
_2019_|
|---|---|---|
|||**_745,263_**
**_64,297_**|
|||_809,560_
_(49,077)_|
|||**_760,483_**|
|||_6,643_
_753,840_|
|||**_760,483_**|
The notes on pages 19 to 34 form part of these accounts.
Approved by the trustees on 31/10/2021 and signed on their behalf by:
Chris Effendowicz (Trustee)
17
## Manchester Buddhist Centre
## Statement of Cash Flows
## for the year ending 31 December 2020
|Note
2020
£
**Cash provided by/(used in) operating activities**
18
**47,132**
_Cash flows from investing activities:_
Dividends, interest, and rents from investments
35
**Cash provided by/(used in) investing activities**
**35**
47,167
Cash and cash equivalents at the beginning of the year
62,177
**Cash and cash equivalents at the end of the year**
**109,344**
Increase/(decrease) in cash and cash
equivalents in the year|_2019_
_£_
**_(62,203)_**|
|---|---|
||_142_|
||**_142_**|
||_(62,061)_
_124,238_|
||**_62,177_**|
18
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
The financial statements have been prepared in accordance with 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), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The accounts (financial statements) have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following 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), second edition - October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Manchester Buddhist Centre meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The financial statements have been prepared on the going concern basis, as the trustees are confident that the charity will continue to be able to meet its liabilities as they fall due.
Donations, primarily via standing orders have held up well, and show no sign of declining. With the re-opening in April 2021 more normal forms of income are beginning to build, though it is predicted that the year will be characterised by losses as furlough ends and attendance at events is still partial and hesitant. This is all to be expected after the pandemic restrictions and public anxiety, but the reserves increased considerably over lockdown, and are available to service this period until losses are eliminated.
Business rental incomes are slowly building back up, albeit that the café space is empty again and further offers need investigating. Community occupancy is also slowly increasing with consequent improvement in rent income.
19
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **b Preparation of the accounts on a going concern basis (cont.)**
Splitting the rating structure of the building into separate businesses has also, eventually, led to a 2k pa permanent reduction in rates bills for the building.
It is also to be noted that the two North Manchester communities' mortgages only have only approximately 2 and 1.5 years to run (after the 12 month capitol payments holiday), so costs will drop permanently by 1.9k in two years time.
However, the most significant financial impact is the considerable reduction in paid staff levels. 1.8 roles have ended, and all but one of the further roles have reduced by one or two days per week. This means that staff costs will decline over late 2020 to mid 2021 by 25-30%. As staffing costs are the single highest expenditure, this will contribute considerably to financial stability. Meanwhile the volunteer community is slowly but significantly taking up vacated workloads.
Retreats and courses, though currently less attractive to more anxious, older community members, are being well attended by newer, younger Sangha members who are very energetic and pleased to occupy the building.
2021 is therefore a considerable transition year through reduction in structural costs, though temporary fuel costs will rise, balanced by lower income through lower attendance for some little time yet.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
20
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **d Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
21
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **f Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes the costs of running the Manchester Buddhist Centre undertaken to further the purposes of the charity.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## **i Tangible fixed assets**
Individual fixed assets costing £2,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
||Per annum|
|---|---|
|Buildings (excluding value of land)|2%|
|Library|5%|
|Ground floor refurbishment|10%|
|Fixtures & fittings|25%|
22
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **j Stock**
Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **k Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **l Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **n Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
23
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **o Pensions**
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 8. There were no outstanding contributions at the year end.
## **2 Legal status of the charity**
The charity is an unincorporated charity, registered as a charity in England & Wales. The registered office address is disclosed on page 1.
## **3 Income from donations and legacies**
|Donations
Coronavirus Job Retention Scheme
**Total**
_Donations_
**_Total_**
**Current reporting**
**period**
**_Previous reporting_**
**_period_**|Unrestricted
£
92,561
46,183
138,744
_Unrestricted_
_£_
_83,923_
_83,923_|Restricted
£
11
-
11
_Restricted_
_£_
_(49,409)_
_(49,409)_|Total 2020
£
92,572
46,183|
|---|---|---|---|
||||138,755|
||||_Total 2019_
_£_
_34,514_|
||||_34,514_|
24
Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **4 Income from charitable activities**
|**Fees and other income**
Room Hire
Bookshop Sales
Charges for classes/events
Rental Income:
Right Livelihood Businesses
Spiritual Communities
**Total**
**_Fees and other income_**
_Room Hire_
_Bookshop Sales_
_Charges for classes/events_
_Rental Income:_
_Right Livelihood Businesses_
_Spiritual Communities_
**_Total_**
**Current reporting**
**period**
**_Previous reporting_**
**_period_**|Unrestricted
£
3,934
16,338
32,362
26,710
64,696
144,040
_Unrestricted_
_£_
_9,906_
_61,191_
_63,286_
_48,364_
_63,137_
_245,884_|Restricted
£
-
-
-
-
-
-
_Restricted_
_£_
_-_
_-_
_-_
_-_
_-_
_-_|Total 2020
£
3,934
16,338
32,362
26,710
64,696|
|---|---|---|---|
||||144,040|
||||_Total 2019_
_£_
_9,906_
_61,191_
_63,286_
_48,364_
_63,137_|
||||_245,884_|
25
Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **5 Investment income**
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
## **6 Analysis of expenditure on charitable activities**
|Staff costs
Bookshop stock & expenses
Services/Utilities
Maintenance/H&S
Administration
Loans/mortgages/interest
Depreciation
Other costs
Governance costs
Restricted expenditure
Unrestricted expenditure|Total 2020
£
158,833
10,607
28,547
9,192
21,518
2,192
19,988
13,477
2,919
267,273
2020
£
-
267,273
267,273|_Total 2019_
£
_180,663_
_36,235_
_33,936_
_17,324_
_9,683_
_2,743_
_20,508_
_23,680_
_4,847_|
|---|---|---|
|||_329,619_|
|||_2019_
_£_
340
329,279|
|||329,619|
26
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **7 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):
Depreciation
Independent examiner's remuneration:
Independent examination
Accountancy fees
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Team support
Training|2020
£
19,988
600
1,350
2020
£
144,791
2,621
2,106
1,100
8,215
158,833|_2019_
_£_
20,508
_600_
_1,350_|
|---|---|---|
|||_2019_
_£_
_156,613_
_4,980_
_2,309_
_1,801_
_14,960_|
|||_180,663_|
## **8 Staff costs**
No employees has employee benefits in excess of £60,000 (2019: Nil).
The average number of staff employed during the period was 11 (2019: 12).
The Manchester Buddhist Centre operates a flat management structure, with decisions being taken collectively by staff. The key management personnel of the charity comprise the trustees and the staff team. The total employee benefits of the key management personnel of the charity were £149,518 (2019: £163,902).
27
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **9 Trustee remuneration and expenses, and related party transactions**
The charity is part of a network of connected charities, similar organisations, each of which is legally autonomous. The various charities in the network co-operate in their shared objectives of advancing the Buddhist religion. Specifically, the charity aims to contribute financially to the Triratna Development Fund, an organisation which provides help and guidance to Triratna centres. In 2020, the charity made a payment of £4,000 to this fund.
The charity rents out parts of the main building to other businesses which are connected with the centre. These are: Breathworks, a company that teaches mindfulness-based approaches to managing pain and other chronic conditions; and Bodywise, a company that offers complementary therapies (such as massage, acupuncture, and shiatsu) as well as teaching yoga and Chi Kung. During 2020 The Clear Vision Trust ceased to operate in the year, meaning some months rents were lost. However, OneTek, an ethical Fast Fibre business, took the space and began to pay rent towards the end of the year. Sadly Earth cafe ceased trading, and all rent from the basement space was lost. Work began to find a replacement asap.
The transactions between the charity and the above related parties are as follows:
|The Clear Vision Trust
Earth Café
Bodywise
Breathworks
One Tek
Abhayaratna Trust
Dayanandi, trustee and tenant
Acharashraddha
Vishangka
Silabodhi
Arthavadin
Suryaka
Dayanandi
Rental income to the charity:
Support received by the Trustees in 2020 are as
follows:|2020
£
1,346
4,560
12,909
6,944
350
600
3,538
2020
£
13,626
14,017
12,579
-
-
-|_2019_
_£_
_4,132_
_18,240_
_15,699_
_10,292_
_-_
_-_
_3,454_|
|---|---|---|
|||_2019_
_£_
_13,073_
_13,249_
_7,692_
_7,817_
_12,811_
_5,990_|
The charity’s rules allow for support – such as living allowances mentioned above – to be given to the Trustees (ie. members of the charity’s council who are members of the Triratna Buddhist Order).
Otherwise, the Trustees have not claimed any expenses in 2020.
28
## Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **10 Fixed assets: tangible assets**
|**Fixed assets: tangible assets**|||||
|---|---|---|---|---|
|**Cost**
Additions
**Depreciation**
Charge for the year
**Net book value**
At 31 December 2020
At 1 January 2020
At 1 January 2020
At 31 December 2020
At 31 December 2020
_At 31 December 2019_|Freehold
Land and
Buildings
£
909,129
-
909,129
167,305
18,212
185,517
723,612
_741,824_|Office and
Computer
Equipment
£
51,400
-
51,400
48,090
1,656
49,746
1,654
_3,310_|£
2,409
-
2,409
2,280
120
2,400
9
_129_
Library|£
962,938
-
Total|
|||||962,938|
|||||217,675
19,988|
|||||237,663|
|||||725,275|
|||||_745,263_|
29
## Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
|**11**
**Debtors**
2020
£
HMRC (tax for Gift Aid donations)
2,266
Prepayments
247
Other debtors
250
2,763
**12**
**Creditors: amounts falling due within one year**
2020
£
Triodos Mortgages
20,894
Other Creditors and Accruals
14,645
Taxation and social security costs
565
36,104
**13**
**Creditors: amounts falling after more than one year**
2020
£
Personal Loan
2,250
Triodos Mortgages
40,598
42,848
Repayable after more than 5 years by instalments
-|_2019_
_£_
_7,647_
_10,223_
_807_|
|---|---|
||_18,677_|
||_2019_
_£_
_20,680_
_14,551_
_573_|
||_35,804_|
||_2019_
_£_
_2,250_
_46,827_|
||_49,077_|
||_-_|
The Triodos mortgages were taken out to purchase 2 & 4 Healey Close Salford and the mortgages are secured on the properties with variable interest rates. The mortgages are repaid on a capital and interest basis by regular monthly payments over a repayment profile of 12 years. The mortgages represent 16% of the carrying value of the properties.
30
Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **14 Analysis of movements in restricted funds**
|Total
_Ground floor project_
_Total_
Stan Kukalowisz
Bursury Fund
_Stan Kukalowisz_
_Bursury Fund_
_Vajra Hall Fund_
**_Previous reporting_**
**_period_**
Vajra Hall Fund
Other
_Other_
**Current reporting**
**period**|Balance at 1
January
2020
£
910
4,478
1,255
6,643
_Balance at_
_1 January_
_2019_
_£_
_20,584_
_809_
_4,478_
_1,105_
_26,976_
|Income
£
11
-
-
11
_Income_
_£_
_(50,000)_
_441_
_-_
_150_
_(49,409)_|Expenditure
£
-
-
-
-
_Expenditure_
_£_
_-_
_(340)_
_-_
_-_
_(340)_|Transfers
£
-
-
-
-
_Transfers_
_£_
_29,416_
_-_
_-_
_-_
_29,416_|Balance at
31
December
2020
£
921
4,478
1,255|
|---|---|---|---|---|---|
||||||6,654|
||||||_Balance at_
_31_
_December_
_2019_
_£_
_-_
_910_
_4,478_
_1,255_|
||||||_6,643_|
31
Manchester Buddhist Centre
Notes to the accounts for the year ended 31 December 2020 (continued)
## **14 Analysis of movements in restricted funds (cont.)**
Stan Kukalowisz This money has been donated specifically to the fund to enable those with Bursury Fund low incomes to be able to apply for a Bursury. This can be used primarily to pay for or contribute towards the cost of our local residential retreats organised by the Manchester Buddhist Centre.
Vajra Hall Fund This is money fundraised to enable us to fit secondary glazing to the windows of the Vajra Hall Shrine room.
Ground floor project This money has been raised by our community and is to be held specifically for the refurbishment of the ground floor space of the Buddhist Centre, installation of disabled access into the building and for new flooring in both the lotus hall and yoga studio. The work on the disabled lift has been delayed because a considerable extra cost arose to complete the work related to additional health and safety and fire safety work in order to comply with planning regulations. This was more than half again of the £50,000 we had set aside (the reserved fund plus funds unreserved funds to make up the £50,000). £50,000 had been donated for the disabled access work to be done and the donor asked for it to be returned until we had sufficient additional funds to go ahead. This we have done. Should it prove possible to reinstate the works at a later date the funds will be made available again to us.
Other Other smaller restricted amounts collected and dispersed during the year
## **15 Analysis of movement in unrestricted funds**
|_General fund_
**Name of**
**unrestricted fund**
General fund
**_Previous reporting_**
**_period_**
**Current reporting**
**period**|Balance at
1 January
2020
Income
Expenditure
Transfers
£
£
£
£
753,840
282,819
(267,273)
-
753,840
282,819
(267,273)
-
_Balance at_
_1 January_
_2019_
_Income_
_Expenditure_
_Transfers_
_782,586_
_329,949_
_(329,279)_
_(29,416)_
_782,586_
_329,949_
_(329,279)_
_(29,416)_
**Description, nature and purposes of the fund**
|As at 31
December
2020
£
769,386|
|---|---|---|
|||769,386|
|||_As at 31_
_December_
_2019_
_753,840_|
|||_753,840_|
||||
General fund The free reserves after allowing for all designated funds
32
Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **16 Analysis of net assets between funds**
|Tangible fixed assets
Other net current assets/(liabilities)
Creditors of more than one year
Total
_Tangible fixed assets_
_Other net current assets/(liabilities)_
_Creditors of more than one year_
_Total_
**_Previous reporting_**
**_period_**|General
fund
£
725,275
86,959
(42,848)
769,386
_General_
_fund_
_£_
_745,263_
_57,654_
_(49,077)_
_753,840_|Designated
funds
£
-
-
-
-
_Designated_
_funds_
_£_
_-_
_-_
_-_
_-_|Restricted
funds
£
-
6,654
-
6,654
_Restricted_
_funds_
_£_
_-_
_6,643_
_-_
_6,643_|Total
£
725,275
93,613
(42,848)|
|---|---|---|---|---|
|||||776,040|
|||||_Total_
_£_
_745,263_
_64,297_
_(49,077)_|
|||||_760,483_|
33
## Manchester Buddhist Centre
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **17 Financial instruments**
Financial instruments measured at amortised cost comprise the loan financing provided by Triodos bank to the charity.
|Loan payable falling due within one year
Loan payable falling due in more than one year
but in less than five years|2020
£
20,894
40,598
61,492|_2019_
_£_
_20,680_
_46,827_|
|---|---|---|
|||_67,507_|
The Triodos mortgages were taken out to purchase 2 & 4 Healey Close Salford and the mortgages are secured on the properties with variable interest rates. The mortgages are repaid on a capital and interest basis by regular monthly payments over a repayment profile of 12 years. The mortgages represent 16% of the carrying value of the properties.
## **18 Reconciliation of net movement in funds to net cash flow from operating activities**
|**Net income/(expenditure) for the year**
**Adjustments for:**
Depreciation charge
Dividends, interest and rents from investments
Decrease/(increase) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating**|2020
£
15,557
19,988
(35)
1,637
15,914
(5,929)
47,132|_2019_
_£_
_(49,079)_
_20,508_
_(142)_
_362_
_(10,460)_
_(23,392)_|
|---|---|---|
|||_(62,203)_|
34