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| , | . le REGISTERED CHARITY NUMBER: 801632 | : CHARITY | | ) COMMISSION _ | |, . ! | | i | | : | | | REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ; FOR
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|: “THE NALANDA TRUST : || | | | CONTENTS OF THE FINANCIAL STAT EMENTS ; | FOR THE YEAR ENDED 3] DECEMBER 2023 ;
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Page Report of the Trustees I to 6 - Independent Examiner's Report 7 Statement of Financial Activities 8 . Bakance Sheet 9 Notes to the Financial Statements 10 to 19
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|| | REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
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The trustees present their report with the financial statemenis of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity objectives are the advancement of the Buddhist religion in particular by:
|._Encouraging members and others to live in accordance with the teachings of the Buddha.
2.Supporting ordained members of the Triratna Buddhist Community and other duly ordained Buddhists, at the discretion of the Council ofthe Association.
3.Maintaming close communication with and working under the guidance of the Trirama Buddhist Order and in co-operation with other groups with. the same objects. 4.Using applications of the Buddha's teaching to promote the health and well-being of al]. . | | | || | .
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| THE NALANDA TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
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OBJECTIVES AND ACTIVITIES
| Significant activities The North London Buddhist Centre offers courses and classes in meditation, Buddhism, yoga and other activities to promote health, happiness and well-being. Its aim is to develop a Buddhist practice community in the city relevant to our lives in the 21st ‘Century. It is part of an intemational network of the Trirama Buddhist Community which has over 80 centres world-wide. | The centre and the Sangha The summer of 2023 was the 20th anniversary of the opening of[the][current][centre][building.][It][ was][also][close to][the][30th] | anniversary of the first North London Buddhist Centre classes {and even the 40th anniversary of the first Triratna ; Buddhist Centre inNorth London - Pundarikn in Archway). So a celebration was held on 9 July, coinciding with Dharma l day, including a reminiscing panel, and a fascinating exhibition. | Kulas (subcommittees) met to consider vision and planning, publicity, finance, diversity and a number of other areas. ; They functioned welt, but a full-scale Kulaamandate system was not yet in place | . The toilets on the staircase half landings were refurbished to a high standard. In June, the reception area was redecorated by Andy and a team, with the thangkas of Sangharakshita's eight teachers being rehung along the back wall of the main shrine recom. There were major improvement projects involving fire safety, and an upgrade of the electric wiring. Problems with the lift continued, and disabled access is therefore stil] an issue. The Karuna Trust were still very much valued tenants of our third floor, though they have been using their office space less, Other Triratna organisations were approached to see if they would like to use part of the space, but there was nto interest ih this. Towards the end of the year, the trustees decided to institute a series of annual themes for centre activities, with 2024 being designated a year of the Sangha. To prepare for this, Buddha, Dharma and Sangha were the Saturday moming themes in the antunm. Courses and events Numbers attending events continued to increase in general. Changes in publicity included innovating Al posters for each ~ month's events. A new women elders group started meeting monthly, facilitated by Shantimati and Margot Messenger. Aryavasin initiated a monthly mantra chanting class. Akshayapradipa was the main drive behind the revival of our young persons’ group. Kshantisara became an active teacher at the centre, and we also welcomed Satyaghosha teaching at the Friday junchtime classes.
Drop-in classes were well attended, as were short courses generally, but jonger courses tended not to book up well.
The programme included: - Autumn day retreat for people of colour. | - A mixed day event for mitras in March. | - An open house day was organised on 14 September as part of the London wide scheme, and we had 50 visitors, mostly new people. - The open house day launched a month-long exhibition of beautiful Buddhist visual art by Visuddhimati. - There was a trial for more dana-based activities, with one of the lunchtime classes becoming free, and a very well subscribed free course in the antumn, though the course did suffer from big drop off. - There were steady improvements in numbers using the yoga studio, with a better profile of classes being offered. - A project was initiated for training and mentoring experienced mitras to help teach at certain classes. - The gong baths and the non-violent communication workshops were very popular. - An “upgrade your mind” course on working effectively with social media was offered, but there was virtually no interest. | Page 2
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OBJECTIVES AND ACTIVITIES _ The December weekend retreat at Vajresana, led by Ratnaprabha and Bodhamayi, alongside the weekend retreat earlier in April were our biggest ever retreats, with over 40 people on each. - We continued to offer online classes, particularly on Saturday mornings and Tuesday evenings, with events on festival days also being streamed online.
ACHIEVEMENT AND PERFORMANCE
Charitable activities This section is aimed at charity members and interested people in the Sangha. Information following the Charity Commission requirements can be found elsewhere m this document. (The trustees' report i8 a public document, available on the Charity Commission website.)
2023 was a year of stability and growth at the Buddhist Centre, with a completely successful fundraising appeal that allowed us to pay offthe balance of the mortgage, so the charity now fully owns its building.
People. After several years of movings on and recruitments, the centre team was stable in personnel during the year. They were all in a good state, and were well supported. Akshayapradipa came into their own as centre manager, being highly _ motivated, very hard-working, and completing a number of challenging tasks. They also became our safeguarding officer. Alana significantly moved on the yoga studio in terms of its income and the numbers attending, and also successfully progressed room hire and the use of treatment rooms. Silvia successfully innovated in all areas of publicity and social media, reaching many new people. Anandavajra and others experimented with new ideas for courses and other programme elements, as well as bringing on the volunteering opportunities significantly, including regular “big clean" volunteer days.
The finance Kula was very busy with the fandraising campaign and with thorough financial management and reporting, especially Andy Slack the bookkeeper, and Ratnabodhi our accountant.
Both Mitra convenors worked very hard supporting existing mitres and encouraging regulars to deepen their comections to the centre (see separate Mitra convenor reports). The Council of trustees met regularly and effectively, with Kshantisara joming, and Ratnaprabha preparing to move on as chair. Ksantikara joined the council towards the end of the year in preparation to becoming the new chair at the beginning of 2024.
The process of choosing and appointing a new chair went smoothly and harmoniously, thongh im the end there was only one candidate. Ksantikara was appointed by the unanimons vote of the council. Serena Dilnot experimented and innovated in the bookshop, increasing the variety of stock, and ra two special pop-up sift shops during the year, both were successful fundraising ventures. The pandemic had hit bookshop sales significantly, but they recovered very well during the year.
In the summer, we celebrated an ordination, when Andrew Wassel became Sthirashraddha, and he was quickly involved in classes, especially his beloved ritual and Puja class on Friday evenings.
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NALANDA TRUST TRUST | REPORT OF THE TRUSTEES OF THE TRUSTEES THE TRUSTEES TRUSTEES FOR THE YEAR ENDED YEAR ENDED ENDED 31 DECEMBER 2023 DECEMBER 2023 2023 FINANCIAL REVIEW REVIEW Financial position did not have not have have a designated treasurer on the council for the whole of designated treasurer on the council for the whole of treasurer on the council for the whole of on the council for the whole of the council for the whole of council for the whole of for the whole of the whole of whole of of 2025. t "buy the building" campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day the building" campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day was launched at the Parinirvana Day festival in February, and closed on Buddha Day launched at the Parinirvana Day festival in February, and closed on Buddha Day at the Parinirvana Day festival in February, and closed on Buddha Day the Parinirvana Day festival in February, and closed on Buddha Day Parinirvana Day festival in February, and closed on Buddha Day Day festival in February, and closed on Buddha Day festival in February, and closed on Buddha Day February, and closed on Buddha Day and closed on Buddha Day closed on Buddha Day on Buddha Day Buddha Day Day | May. The aim was to raise £75,000 was to raise £75,000 to raise £75,000 raise £75,000 £75,000 to pay offthe mortgage, pay offthe mortgage, offthe mortgage,the mortgage, mortgage, and indeed the final indeed the final the final final figure fer the campaign was the campaign was campaign was was £75,743 off the mortgage the mortgage mortgage at that time. The that time. The time. The The loan was paid back by the end of was paid back by the end of paid back by the end of back by the end of by the end of the end of end of of the year. including gift aid. Although not all ofthis gift aid. Although not all ofthis aid. Although not all ofthis Although not all ofthis not all ofthis all ofthis ofthisthis money was in in byMay, akind loan akind loan loan from a Sangha member allowed a Sangha member allowed Sangha member allowed member allowed allowed us to to fully | Many people coutributed to the fundraising effort, with a special mention going going to Akshayapradipa's very hard work. Serena organised organised a pop-up gift shop, gift shop, shop, and there were several fundraising events. there were several fundraising events. were several fundraising events. several fundraising events. fundraising events. events. | Because of concems about the the security of online banking with our current bank, of online banking with our current bank, online banking with our current bank, banking with our current bank, our current bank, current bank, bank, Santander, an attempt was made attempt was made was made made to open new account with the Co-op account with the Co-op with the Co-op the Co-op Co-op bank, but this this failed after much much effort because because of their rather rigid rules. their rather rigid rules. rather rigid rules. rigid rules. rules. There was was a scare scare in the the autumn when when Suryaprabha received received a large large unexpected business business rates demand for the demand for the for the the office he uses for his voluntary Buddhist video work. for his voluntary Buddhist video work. his voluntary Buddhist video work. voluntary Buddhist video work. Buddhist video work. video work. work. It eventually transpired that he is exempt. eventually transpired that he is exempt. transpired that he is exempt. that he is exempt. he is exempt. is exempt. exempt. . The charity incurred a deficit on unrestricted activities of £23 (2022: Surplus of £1,454), After the transfer fom restricted funds of the the monies raised of £75,743 the amount of £75,720 was added to the reserves brought forward of £847,168 to leave £922,888 £922,888 to be be carried forward. forward. Income . The income was £317,302 (including £75,743 income was £317,302 (including £75,743 was £317,302 (including £75,743 £317,302 (including £75,743 (including £75,743 £75,743 raised to pay offthe mortgage). to pay offthe mortgage). pay offthe mortgage). offthe mortgage).the mortgage). mortgage). This compares to the amount of compares to the amount of to the amount of the amount of amount of of £206,070 | for 2022, an increase of £111,232. 2022, an increase of £111,232. an increase of £111,232. increase of £111,232. of £111,232. £111,232. | Expenditure for 2023 was £241,582 an increase of 2023 was £241,582 an increase of was £241,582 an increase of £241,582 an increase of increase of of £36,966 when when compared to the 2022 amount of to the 2022 amount of the 2022 amount of 2022 amount of of £204,616. Reserves policy | The total funds ofthe charity were £922,888 total funds ofthe charity were £922,888 funds ofthe charity were £922,888 ofthe charity were £922,888the charity were £922,888 charity were £922,888 were £922,888 £922,888 of which £863,390 £863,390 are represented by fixed assets, leaving £59,498. represented by fixed assets, leaving £59,498. by fixed assets, leaving £59,498. fixed assets, leaving £59,498. assets, leaving £59,498. leaving £59,498. £59,498. Expenditure in 2023 was £241,582 amd so the level of nresiricted reserves was 2.95 months. In order to ensure the charity has sufficient fumds to take into account unforeseen events the trustees deem that 3 months expenditure is required as a general reserve, | GoverningSTRUCTURE, document GOVERNANCE AND MANAGEMENT | The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. | |Charity constitutionCharity constitution constitution The charity was registered on 6 Jume 1989. charity was registered on 6 Jume 1989. was registered on 6 Jume 1989. registered on 6 Jume 1989. on 6 Jume 1989. 6 Jume 1989. Jume 1989. 1989. | The charity is governed charity is governed is governed governed by its Rules adopted 29 May 1989 as amended 17 September 2001, its Rules adopted 29 May 1989 as amended 17 September 2001, Rules adopted 29 May 1989 as amended 17 September 2001, adopted 29 May 1989 as amended 17 September 2001, 29 May 1989 as amended 17 September 2001, May 1989 as amended 17 September 2001, 1989 as amended 17 September 2001, as amended 17 September 2001, amended 17 September 2001, 17 September 2001, September 2001, 2001, 14 September 2011 September 2011 2011 and 10 | September 201. 201. | Charity Trustees Trustees The trustees are members of members of of the charity but this charity but this but this this entitles them onlyto them onlyto onlytoto voting rights. rights. The trustees have no beneficial interest in the charity. trustees have no beneficial interest in the charity. have no beneficial interest in the charity. no beneficial interest in the charity. beneficial interest in the charity. interest in the charity. the charity. charity. | Trustees are elected annually from the membership by the members at the AGM. As and when needed, new trusiees are sought from within the membership and from. the pool of experienced committed Buddhists who are able to attend meetings in London. | All trustees are required to have relevant experience and skills in order to serve on ihe trustee body. ‘Trustees meetings are at present monthly. All trustees give their time voluntarily and receive no benefits from the charity | for their trustee work. Any expenses reclaimed from the charity are set out in the netes to the accounts. . Page 4 : |
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| bos “THE NALANDA TRUST TRUST REPORT OF THE TRUSTEES OF THE TRUSTEES THE TRUSTEES TRUSTEES FOR THE YEAR ENDED YEAR ENDED ENDED 31 DECEMBER 2023 DECEMBER 2023 2023
FINANCIAL REVIEW REVIEW
Financial position We did not have not have have a designated treasurer on the council for the whole of designated treasurer on the council for the whole of treasurer on the council for the whole of on the council for the whole of the council for the whole of council for the whole of for the whole of the whole of whole of of 2025. Our "buy the building" campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day the building" campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day campaign was launched at the Parinirvana Day festival in February, and closed on Buddha Day was launched at the Parinirvana Day festival in February, and closed on Buddha Day launched at the Parinirvana Day festival in February, and closed on Buddha Day at the Parinirvana Day festival in February, and closed on Buddha Day the Parinirvana Day festival in February, and closed on Buddha Day Parinirvana Day festival in February, and closed on Buddha Day Day festival in February, and closed on Buddha Day festival in February, and closed on Buddha Day February, and closed on Buddha Day and closed on Buddha Day closed on Buddha Day on Buddha Day Buddha Day Day in May. The aim was to raise £75,000 was to raise £75,000 to raise £75,000 raise £75,000 £75,000 to pay offthe mortgage, pay offthe mortgage, offthe mortgage,the mortgage, mortgage, and indeed the final indeed the final the final final figure fer the campaign was the campaign was campaign was was £75,743 pay off the mortgage the mortgage mortgage at that time. The that time. The time. The The loan was paid back by the end of was paid back by the end of paid back by the end of back by the end of by the end of the end of end of of the year. | including gift aid. Although not all ofthis gift aid. Although not all ofthis aid. Although not all ofthis Although not all ofthis not all ofthis all ofthis ofthisthis money was in in byMay, akind loan akind loan loan from a Sangha member allowed a Sangha member allowed Sangha member allowed member allowed allowed us to to fully Many people coutributed to the fundraising effort, with a special mention going going to Akshayapradipa's very hard work. Serena organised organised a pop-up gift shop, gift shop, shop, and there were several fundraising events. there were several fundraising events. were several fundraising events. several fundraising events. fundraising events. events.
Because of concems about the the security of online banking with our current bank, of online banking with our current bank, online banking with our current bank, banking with our current bank, our current bank, current bank, bank, Santander, an attempt was made attempt was made was made made to open a new account with the Co-op account with the Co-op with the Co-op the Co-op Co-op bank, but this this failed after much much effort because because of their rather rigid rules. their rather rigid rules. rather rigid rules. rigid rules. rules.
There was was a scare scare in the the autumn when when Suryaprabha received received a large large unexpected business business rates demand for the demand for the for the the office he uses for his voluntary Buddhist video work. for his voluntary Buddhist video work. his voluntary Buddhist video work. voluntary Buddhist video work. Buddhist video work. video work. work. It eventually transpired that he is exempt. eventually transpired that he is exempt. transpired that he is exempt. that he is exempt. he is exempt. is exempt. exempt.
The charity incurred a deficit on unrestricted activities of £23 (2022: Surplus of £1,454), After the transfer fom restricted funds of the the monies raised of £75,743 the amount of £75,720 was added to the reserves brought forward of £847,168 to leave £922,888 £922,888 to be be carried forward. forward.
Income The income was £317,302 (including £75,743 income was £317,302 (including £75,743 was £317,302 (including £75,743 £317,302 (including £75,743 (including £75,743 £75,743 raised to pay offthe mortgage). to pay offthe mortgage). pay offthe mortgage). offthe mortgage).the mortgage). mortgage). This compares to the amount of compares to the amount of to the amount of the amount of amount of of £206,070 for 2022, an increase of £111,232. 2022, an increase of £111,232. an increase of £111,232. increase of £111,232. of £111,232. £111,232.
Expenditure for 2023 was £241,582 an increase of 2023 was £241,582 an increase of was £241,582 an increase of £241,582 an increase of increase of of £36,966 when when compared to the 2022 amount of to the 2022 amount of the 2022 amount of 2022 amount of of £204,616.
Reserves policy The total funds ofthe charity were £922,888 total funds ofthe charity were £922,888 funds ofthe charity were £922,888 ofthe charity were £922,888the charity were £922,888 charity were £922,888 were £922,888 £922,888 of which £863,390 £863,390 are represented by fixed assets, leaving £59,498. represented by fixed assets, leaving £59,498. by fixed assets, leaving £59,498. fixed assets, leaving £59,498. assets, leaving £59,498. leaving £59,498. £59,498.
|Charity constitutionCharity constitution constitution The charity was registered on 6 Jume 1989. charity was registered on 6 Jume 1989. was registered on 6 Jume 1989. registered on 6 Jume 1989. on 6 Jume 1989. 6 Jume 1989. Jume 1989. 1989. The charity is governed charity is governed is governed governed by its Rules adopted 29 May 1989 as amended 17 September 2001, its Rules adopted 29 May 1989 as amended 17 September 2001, Rules adopted 29 May 1989 as amended 17 September 2001, adopted 29 May 1989 as amended 17 September 2001, 29 May 1989 as amended 17 September 2001, May 1989 as amended 17 September 2001, 1989 as amended 17 September 2001, as amended 17 September 2001, amended 17 September 2001, 17 September 2001, September 2001, 2001, 14 September 2011 September 2011 2011 and 10 | September 201. 201. , Charity Trustees Trustees The trustees are members of members of of the charity but this charity but this but this this entitles them onlyto them onlyto onlytoto voting rights. rights. :| The trustees have no beneficial interest in the charity. trustees have no beneficial interest in the charity. have no beneficial interest in the charity. no beneficial interest in the charity. beneficial interest in the charity. interest in the charity. the charity. charity.
| ‘a * THE NALANDA TRUST REPORT OF THE TRUSTEES. | FOR THE YEARENDED 31 DECEMBER 2023
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STRUCTURE, GOVERNANCE AND MANAGEMENT
Conflict of Interest We have in place a conflicts of interest policy. This requires a Council member to absent himself or herseif from any | discussions of the Council in which it is possible that a conflict will arise between his or her duty to act solely in the | interests of the Charity and any personal interest (inctuding but not limited to any personal financial interest) and take no | part in the voting upon the matter, | REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number | 801632 Principal address 72 Holloway Road London | N7 4GB , Trustees.
Ratnaprabha (John Robin Cooper) -Chatr Karunagita (Sara Bums) - Secretary Kusala (Guy Redmond) Vajramitra (Michael Ward) Maitrisgmbhava (Sharon Reed) Nandaraja (Obafemi Adewumi) Darsavini (Eve Lear} Anandavajra (Jonathan Turnbull) Kshantisata (Uschi Gramann) (appointed 12.4.23) Ksantikara Green - Chair (appointed 1.01.24) (appointed 22.11.23)
Independent Examiner
Christopher Robert Tyler FCA DChA PCIE F lat1 CRT 24 Well Lim i ngtoniated Court Laine Close East Sussex BNI 6TD
Operating Name
North London Buddhist Centre
Principal Bankers
Santander Bank Bootle
Merseyside 130 4GB Image Front Cover The image on the front cover is provided by Aryajit (Stephen Heppel)
STATEMENT OF TRUSTEES' RESPONSIBILITIES ; The trustees are responsible for preparing the Report of the Trustees ard the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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THE NALANDA TRUST
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REPORT OF THE TRUSTEES FQR THE YEAR ENDED 31 DECEMBER 2033
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financialapplication yearof which resources, give aincluding tue andthefair mcomeview of theand stateexpenditure,of affairsofof the thecharitycharityfor andthatof theperiod. incomingIn preparing resourcesthoseand financial statements, the trustees are required to
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gelect suitable accounting policies ard then apply them consistently;
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- make judgements and estimates that are reasonable and prucent; - observe the methods and principles in the Charity SORP; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of frand and other irregularities. on its behalf by: Approvedby order of the board of trustees O11 ....-tsssetfesssererttertereecsneiesng/o5/at and sipned
; KSet ‘ K Rico Ksantikara Green - Trustee
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| , INDEPENDENT EX4 MINER'S REPORT TO THE TRUSTEES OF THE NALANDA TRUST
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Independent examiner's report to the trustees of The Nalanda Trust [ report to the charity trustees on my examination of the accounts of The Nalanda Trust (the Trust) for the year ended 31 December 2023.
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’).
Lreport in respect ofmy examination of the Trust’s accounts carried out under Section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
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Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because [ am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have compieted my examination. I confirm that no material matters have come to my attention in connection with the exatnination giving me cause to believe that in any thaterial respect:
- accounting records were not kept in respect of the Trust as required by Section 130 of the Act, or 2. the accounts do not accord with those records; or 3. the accounis 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 a3 part of an independent examination.
Lhave no concems 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.
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Christopher Robert Tyler FCA DChA FCIE
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Fi CRT Limited Flat 24 Wellingtenia Court Laine Close East Sussex BNI 61D
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
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|Unrestricted|Restricted|2023Total|2022Total|
|funds|find|funds|funds|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and legacies|2|21,841|-|21,861|34,119|
|Charitable|activities|5|
|Charitable|activities|168,052|-|168,052|136,725|
|Other trading activities|3|5,666|75,743|81,409|4,646|
|Investment income|4|45,986|-|45,980|40,580|
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|Total|241,559|75,743|317,302|206,070|
|EXPENDITURE|ON|
|Raising funds|6|11,6451|-|{1,651|20,986|
|Charitable|activities|7|
|Officers Expenses|2,930|-|2,930|921|
|People|122,899|-|122,899|108,222|
|Finance|Charges|7,648|-|7,648|8,157|
|Centre|47,116|-|47,116|30,786|
|Activities|36,960|-|36,960|22,524|
|Other|12,378|-|12,378|13,020|
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|Total|241,582|-|241,582|204,616|
|NET INCOMEAEXPENDITURE)|(23)|75,743|75,720|1,454|
|Transfers between|funds|20|75,743|(75,743)|-|-|
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|Net movement in funds|75,720|-|75,720|1,454|
|RECONCILIATIONTotal funds brought forward OF FUNDS|847,168|-|847,168|345,714|
|TOTAL FUNDS CARRIED FORWARD|922,888|-|922,888|847,168|
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The notes form part of these financial statements
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BALANCE SHEET 31 DECEMBER 2023
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|2023|2022|
|Unrestricted|Restricted|Total|Total|
|Notes|£|£|£|£|
|funds|fund|funds|funds|
|FIXED ASSETS|
|Intangible assets|13|-|-|-|264|
|Tangible assets|14|$63,390|-|863,390|867,487|
|863,390|-|863,390|867,751|
|CURRENTStocks|ASSETS|15|6,828|-|6,828|3,965|
|Debtors|16|4,845|-|4,845|5,267|
|Cash at bank and in hand|57,107|-|57,107|49,460|
|68.780|-|68,780|58,692|
|CREDITORS|
|Amounts falling due within one year|17|(9,282)|-|(9,282)|(64,774)|
|NET CURRENT ASSETS|59,498|-|59,498|(6,082)|
|LIABILITIES|922,888|-|922,888|861,669|
|TOTAL|ASSETS LESS|CURRENT|
|CREDITORS|
|Amounts falling due|after more than one year|18|-|-|-|(14,501)|
|NET ASSETS|922,888|-|922,888|847,168|
|FUNDSUnrestricted funds|20|922,888|847,168|
|TOTAL FUNDS|922,888|847,168|
|The|finangial|ents|were|approved|by|the|Board|of|Trustees|and|authorised|for|issue|on|
|ue|ade|stat... and|were signed|on its behalf by:|
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i Santirm Kare Ksantikara Green - Trustee
| | | |
The notes form part of these financial statements Page 9
- THE NALANDA TRUST | | NOTESFOR THE TO YEAR THEFOR THE TO YEAR THE THE TO YEAR THE TO YEAR THE YEAR THE THE ENDED 31 1. ACCOUNTING POLICIES : BasisTheThe financialof preparingof preparing preparingstatementsthe FinancialStatement ReportingofStatement Reportingof Reportingofof Recommended Standard applicable inPractice - (Charities SORP | (FRS 102) and the 102) and the and the the Charities Act 2011.
| I || | | | | | | | | | | | : | | ! | |
| Income from donations from donations donations is accounted for as received by the charity. accounted for as received by the charity. for as received by the charity. as received by the charity. received by the charity. by the charity. the charity. charity. | Tho income from fundraising ventures income from fundraising ventures from fundraising ventures fundraising ventures ventures is shown gross, with the shown gross, with the gross, with the with the the associated costs included in fundraising costs. costs included in fundraising costs. included in fundraising costs. in fundraising costs. fundraising costs. costs. | The value of voluntary work is not imciuded in the financial statements. | 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) te 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 mcome recognition have not been met, then the legacy is treated a3 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 Tecopnition are moet. luterest 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 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 i been classified under headings that aggregate all cost related to the category. Where costs cannot be directly resources, | attributed to particular headings they have been allocated to activities on a basis consistent with the use of | Expenditure is classified under the following activity headings:| - Costs of raising funds includes expenditure on rnning courses and events. - Expenditure on charitable activities includes the costs oftunning the North London Buddhist Centre undertaken to further the purposes of the charity. - Other expenditure represents those items not falling into any other heading.
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NOTESFOR THE TO YEAR THEFOR THE TO YEAR THE THE TO YEAR THE TO YEAR THE YEAR THE THE FINANCIALENDED 31 STATEMENTS
- ACCOUNTING POLICIES
BasisTheThe financialof preparingof preparing preparingstatementsthe financialhave beenstatementsprepared im accordance with Accounting and Reporting by Charities: FinancialStatement ReportingofStatement Reportingof Reportingofof Recommended Standard applicable inPractice applicable the UKtoandcharities Republicpreparing of Irelandtheir (FRSaccounts 102) (effectivein accordance1 Januarywith2019)the - (Charities SORP (FRS 102)), the Financial Reporting Standard applicabie in the UK and Republic of Ireland (FRS 102) and the 102) and the and the the Charities Act 2011. The Nalanda Trust meets the definition of a public entity under FRS102. Assets and liabilities are imitially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The Trustees consider there are no material uncertainties about the charity's ability to continue as a going
Income
Tncome is recognised. when the charity has entitlement to the funds, amy performance conditions attached to the jtem(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
- Income from donations from donations donations is accounted for as received by the charity. accounted for as received by the charity. for as received by the charity. as received by the charity. received by the charity. by the charity. the charity. charity. Tho income from fundraising ventures income from fundraising ventures from fundraising ventures fundraising ventures ventures is shown gross, with the shown gross, with the gross, with the with the the associated costs included in fundraising costs. costs included in fundraising costs. included in fundraising costs. in fundraising costs. fundraising costs. costs.
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| |[-] i[THE][ NALANDA][ TRUSF] NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ' 1. ACCOUNTING POLICIES- continued | ExpenditureIrrecoverable VAT is charged as a cost apainst the activity for which the expenditure was incurred. Tangible fixed assets Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated | Frus e fulehold economic land and livesbuildingon a s traightlineno depreciation basis as follis pr o ws.vided on the land element and the bui!dings are depreciated ever 100 years straight line. | Lift and engine refurbishment - over 10years straight Jine. Office equipment, fittings and furniture - over 3 to 10 years straight line. | ComputerStocks hardware and software - over 3 to 5 years straight line. Stock is included at the lower of cost or net tealisable value. In general, cost is determined on a first in, first ott | basis. Net realisable value is the price at which stocks can be sold in the normal course of business after | allowingstocks. the costsDonated items of realisation.of stock areProvisionrecognised is madeat fair where value necessarywhich is for the obsolete,amount the slowcharity movingwould andhavedefectivebeen willingto pay for the items on the open market. | TaxationThe charity is exempt from tax on its charitable activities. | Fund accounting | UnrestrictedRestricted funds funds can can onlybe be usedused in accordance for particular with restricted the charitable purposes objectives within the at objectsthe discretionof the of charity.the trustees.Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. | Further explanation ofthe nature and purpose of each fund is included in the notes to the financial statements. a Pension costs | 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 the notes to the accounts, Thete were no outstanding ‘ comtyibutions at the year end. | 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. 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. | DebtorsTrade 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 | CreditorsCreditors andand provisionsprovisions are recognised where the charity has a present obligation resulting from a past event ; : that willmeasured probablyor estimated resnit reliably. in the transferCreditors of fundsand to provisions a third partyare and normally the amount recognised due to atseitle their thesettlement obligation canamountbe after allowing for any trade discounts dne. , Page 11 continued...
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THE NALANDA TRUST
NOTES TQ THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023
.
| NOTES TQ THE FINANCIAL STATEMENTS- FOR |
NOTES TQ THE FINANCIAL STATEMENTS-TQ THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- continued THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 DECEMBER 20232023 |
NOTES TQ THE FINANCIAL STATEMENTS-TQ THE FINANCIAL STATEMENTS-THE FINANCIAL STATEMENTS-FINANCIAL STATEMENTS-STATEMENTS-- continued THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 DECEMBER 20232023 |
|||
|---|---|---|---|---|---|
| 2. | DONATIONS AND LEGACIES | 2023 | 2022 | ||
| £ | £ | ||||
| ; Donations -Dana |
21,861 | 24,119 | |||
| 3. | OTHERTRADINGACTIVITIES | 2023 | 2022 | ||
| £ | £ | ||||
| 4. | Fundraisingevents INVESTMENTINCOME |
81,409 2023 |
4,646 2022 |
||
| £ | £ | ||||
| Rentandservicecharges Roomhire Depositaccountinterest |
; | 25,611 19,899 470 |
25,380 15,156 44 |
||
| 45,980 | 40,580 | ||||
| 5. | INCOMEFROMCHARITABLEACTIVIT.TES | 2023 | 2022 | ||
| Classes Bodywork Chargedevents Dharmacourses MBCTetccourses Shopsales Retreats Other |
Activity Charitable activities Charitable activities Charitable activities Charitableactivities Charitable activities Charitable activities . ble Charitableactivities |
£ 39,579 51,780 7,543 13,035 20,420 13,127 2 568 - 168,052 |
£ 30,491 34,828 4,707 13,524 31,858 7,640 13 1 5 522 436,725 |
||
| 6& | RAISINGFUNDS | ||||
| Raisingdonationsand legacies | 2023 | 2022 | |||
| £ | £ | ||||
| MBCTetccourses Chargedevents |
9,402 2,249 |
18,725 2,261 |
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| 11,651 | 20,986 |
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| 0 THE NALANDA TRUST
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 3f DECEMBER 2023
- CHARITABLE ACTIVITIES COSTS
|
| 7. | CHARITABLE ACTIVITIES COSTSCOSTS | |||
|---|---|---|---|---|
| Direct | Support | |||
| Costs (see | cosis (see | |||
| note 8) | note9) | Totals | ||
| £ | £ | £ | ||
| OfficersExpenses People FinanceCharges Centre Activities Other |
2,930 122,899 . 47,116 36,960 11,478 |
- - 7,648 - - 900 |
2,930 122,899 7,648 44,116 36,960 12,378 |
|
| 221,383 | 8,548 | 229,931 | ||
| &. | DIRECTCOSTSOFCHARITABLEACTIVITIES | 2023 | 2022 | |
| £ | £ | |||
| Staffcosts. Chair'sexpenses Mitraconveningexpenses Communications Office Premises Publicity Refreshments Shoppurchases Shrine Utilities Bodyworkcosts Dharma courses Retreatexpenses Centra)Dana Miscellaneous Sundries Restrictedexpenditure Depreciation |
122,899 1,969 961 1,567 1,362 27,023 3,462 948 4,595 1,094 7,035 27,677 - 8,491 792 585 207 30 10,686 221,383 |
108,222 185 736 2,166 2,325 12,651 2,967 1,001 5,093 TTT 3,806 17,19] 62 5,271 792 341 283 1,285 10,349 175,473 |
||
| 9. | SUPPORT COSTS | Management | ||
| £ | ||||
| FinanceCharges Other |
7,648 900 |
|||
| 8,548 | ||||
| = |
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| . THE NALANDA TRUST NOTES JQ THE FINANCIAL STATEMENTS - continued | FOR THE YEAR ENDED 31 DECEMBER 2023 9. SUPPORT COSTS - continned ‘Support costs, included in the above, are as follows: . i Bank and credit card charges Mortgage interest ; Tadependent examination | . 10. TRUSTEES’ REMUNERATION AND BENEFITS REMUNERATION AND BENEFITS AND BENEFITS BENEFITS Paragraph 6 of the Constitution, of North London 6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charity employ Trustees. Trustees receiving support as Trustees. Trustees receiving support as Trustees receiving support as receiving support as support as as employees I ;
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| SUPPORT COSTS - continned ‘Support costs, included in the above,costs, included in the above,included in the above,in the above,the above,are as follows:as follows:follows: |
||||
|---|---|---|---|---|
| ‘Support costs, included in the above,costs, included in the above,included in the above,in the above,the above, are as follows:as follows:follows: | Finance Charges £ |
Other £ |
2023 Total activities £ |
2022 Total activities £ |
| Bank and credit card chargesand credit card chargescredit card chargescard chargescharges Mortgage interest Tadependent examinationexamination |
6,758 890 - |
- - 900 |
6,758 890 500 |
4,218 3,939 ” |
| TRUSTEES’ REMUNERATION AND BENEFITSREMUNERATION AND BENEFITSAND BENEFITSBENEFITS | 7,648 TRUSTEES’ REMUNERATION AND BENEFITSREMUNERATION AND BENEFITSAND BENEFITSBENEFITS |
900 | 8,548 | 8,157 |
- TRUSTEES’ REMUNERATION AND BENEFITS REMUNERATION AND BENEFITS AND BENEFITS BENEFITS Paragraph 6 of the Constitution, of North London 6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charity to employ Trustees. Trustees receiving support as Trustees. Trustees receiving support as Trustees receiving support as receiving support as support as as employees ate:
| Paragraph 6 of the Constitution, of North London 6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charity6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charitythe Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof North London North London London Buddhist Centre gives specific permission for the charityNorth London London Buddhist Centre gives specific permission for the charityLondon Buddhist Centre gives specific permission for the charityBuddhist Centre gives specific permission for the charitygives specific permission for the charity employ Trustees. Trustees receiving support as Trustees. Trustees receiving support as Trustees receiving support as receiving support as support as as employeesTrustees. Trustees receiving support as Trustees receiving support as receiving support as support as as employeesTrustees receiving support as receiving support as support as as employeesreceiving support as support as as employeessupport as as employeesas employeesemployees ate: |
Paragraph 6 of the Constitution, of North London 6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charity6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charitythe Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof North London North London London Buddhist Centre gives specific permission for the charityNorth London London Buddhist Centre gives specific permission for the charityLondon Buddhist Centre gives specific permission for the charityBuddhist Centre gives specific permission for the charitygives specific permission for the charityspecific permission for the charitypermission for the charityfor the charitythe charity | Paragraph 6 of the Constitution, of North London 6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charity6 of the Constitution, of North London of the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof the Constitution, of North London the Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charitythe Constitution, of North London of North London North London London Buddhist Centre gives specific permission for the charityof North London North London London Buddhist Centre gives specific permission for the charityNorth London London Buddhist Centre gives specific permission for the charityLondon Buddhist Centre gives specific permission for the charityBuddhist Centre gives specific permission for the charitygives specific permission for the charityspecific permission for the charitypermission for the charityfor the charitythe charitycharity to |
|---|---|---|
| Ratnaprabha(JohnCooper) Chairmanoverseeingtheworkofthecharity |
2023 £ 9,321 |
2022 £ 8,437 |
| Darsavini(EveLear) | 10,875 | 6,344 |
| Women'sMitraConvenor | ||
| Anandavajra(JohnathanTurnbull} Men's Mitra Convenor |
12,655 | 13,049 |
| Abhilasa (David Francis) | - | 1,749 |
| Professional accountancy services | — | — |
| 32.851 | 29.576 | |
| Trustees’expenses There were no trustees’ expenses paid for the year ended 31 |
December 2023 nor for the year ended | |
| 31 December 2022. | ||
| Trustees'donations Thefollowingtrusteesmadedonationstothecharity |
||
| 2023 | 2022 | |
| £ | £ | |
| SBurns GRedmond RCooper UGramann MWard : |
10,960 240 6,240 150 1,000 - |
680 240 240 - - 120 |
| DFrancis SReed |
4900 21,490 |
—949 2,220 |
| Page14 |
7 THE NALANDA TRUST NOTES TO THE FINANCIAL STATEMEN TS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
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11. STAFF COSTS
Staff costs during the year were as follows:
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||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Wages|and|salaries|103,708|94,677|
|Employers national|msurance|6,089|-|
|Employers pension|3,066|2.817|
|112.863|97,494|
----- End of picture text -----
No employee has employment benefits in excess of £60,000 (2022: £Nil).
The average number of staff employed during the period was 7 (2022:6).
The key management personnel of the charity comprise the Trustees. The total employee benefits, including employers national insurance and employers pension contributions, of the key management personnel of the charity were £32,851 (2022: £29,576).
The North London Buddhist Centre operates a defined contribution scheme operated by The People’s Pension. The contributions as at December 2023 were employer 3% and employee 5%.
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|---|---|---|---|---|
|12.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|fund|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations|and legacies|34,119|-|24,119|
|Charitable|activities|
|Charitable|activities|136,725|-|136,725|
|Other trading activities|4,646|-|4,646|
|Investment income|40,580|-|40,580|
|Total|206,070|-|206,070|
|EXPENDITURE ON|
|Raising funds|20,986|.|20,986|
|Charitable|activities|
|Officers Expenses|921|-|921|
|People|108,222|-|108,222|
|Finance|Charges.|8,157|-|8,157|
|Centre|30,786|-|30,786|
|Activities|22,524|-|22,524|
|Other|13,020|-|13,020|
|Total|204,616|———|-|——204,616|
|NET INCOME|1,454|-|1,454|
|RECONCLLIATION OF FUNDS|
|Total|funds bronght forward|845,714|-|845,714|
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" THE NALANDA TRUST
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| " THE NALANDA TRUSTTHE NALANDA TRUSTNALANDA TRUSTTRUST | " THE NALANDA TRUSTTHE NALANDA TRUSTNALANDA TRUSTTRUST | ||||
|---|---|---|---|---|---|
| NOTESTOTHE FINANCTAL STATEMENTS | - continued | ||||
| FORTHE | THEYEARENDED31DECEMBER2023 | ||||
| 12 | COMPARATIVESFORTHESTATEMENTOFFINANCIALACTIVIFIES | ACTIVIFIES-continued Unrestricted Restricted funds fund. £ £ |
Total funds £ |
||
| TOTALFUNDSCARRIEDFORWARD | _ 847,168 |
eed - |
—_— 847,168 |
||
| 13. | INTANGIBLEFIXEDASSETS | Website £ |
|||
| COST At I January2023 and31 December2023 |
1,000 | ||||
| AMORTISATION At 1 January2023 Charge foryear |
736 264 |
||||
| At31December2023 | 1,000 | ||||
| NETBOOKVALUE | |||||
| At 31 December2023 At31December2022 |
- == 264 |
||||
| 14. | TANGIBLEFIXEDASSETS | Fixtures, | |||
| Freehold property £ |
Plantand foachinery £ |
fittings and equipment £ |
Totals £ |
||
| COSTORVALUATION At 1 January2023 Additions At31 December2023 |
900,000 - 900,000 |
29,053 - 29.053 |
4,705 6,324 11,029 |
933,758 6,324 940,082 |
|
| DEPRECIATION At |
January2023 Chargeforyear |
47,250 6,756 |
14,525 2,905 |
4,496 766 |
|
| At31December2023 | §4,000 | 17,430 | 5,262 | 76,692 | |
| NETBOOKVALUE At31 December2023 |
846,000 | 11,623 | 5,767 | 863,390 | |
| At31Deceinber2022 | 852,750 ——— |
14,528 —— |
209 ——— |
867,487 ——— |
Included in cost or valuation of land and. buildings is freehold land of £225,000 (2022 - £225,000) which is not depreciated.
|
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THE NALANDA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 3] DECEMBER 2023 14. TANGIBLE FIXED ASSETS - continued
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Cost or valuation at 31 December 2023 is represented by:
| Fixtures, fittings |
|||||
|---|---|---|---|---|---|
| Freehold property £ |
Plantand machinery £ |
and equipment £ |
Totals £ |
||
| Valuationin2023 Cost |
2023 | 900,000 - |
- 29,053 |
- 11,029 |
900,000 40,082 |
| 900,000 | 29,053 | 11,029 | 940,082 |
The charity's premises were acquired at a, cost of £800,000 and have been revalued on a regular basis, the last time being on 28th May 2012 when its value was recorded in the fmancial statements at £900,000. There has been no significant change in the value of the premises since that revaluation. The trustees have elected to treat the revalued amount as deemed cost, as pennitted on first-time adoption ofFRS102.
STOCKS
| 15. | STOCKS | . | ||
|---|---|---|---|---|
| 15. | STOCKS | 2023 | 2022 | . |
| £ | £ | |||
| Stocks | 6,828 | 3,965 | ||
| 16, | DEBTORS:AMOUNTSFALLINGDUEWITHINONEYEAR Prepaymentsand.accruedincome Taxclaim |
2023 £ 3,157 1,688 |
2022 £ 4,867 400 |
. |
| 4,845 | 5,267 | ! | ||
| 7. | CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR | 2023 | 2022 | |
| ~ | Bankloansandoverdrafts (seenote 19) Taxation andsocial security Othercredttors |
- 2,967 6,315 |
56,579 1,010 7,185 |
|
| 9,282 | 64,774 | |||
| =—— | — | |||
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* THE NALANDA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 : 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Othercreditors | - | 14,501 | ||||
| 19. | LOANS | |||||
| ' Ananalysis of thematurity of loans isgiven below: | ||||||
| 2023 £ |
2022 £ |
|||||
| Amounts fallingduewithinoneyearondemand: Mortgage Amountsfallingbetweenoneandtwoyears: Mortgage |
- —_—— - |
56,579 — 14,501 |
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| Following afundraisingcampaignthemortgage from theTriodosBank | Bankwasrepaidin | infull duringthe | the year. | |||
| 20. | MOVEMENTINFUNDS | |||||
| Net | Transfers | |||||
| At 1.423 £ |
movernent im funds £ |
between fonds £ |
At 31.12.23 £ |
|||
| Unrestricted funds General flind RevaluationReserve |
747,168 100,000 |
(23) - |
75,743 - |
822,888 100,000 |
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| 847,168 | (23) | 75,743 | 922,888 | |||
| ,; | ||||||
| Restricted funds BuildingFund |
. | 75,743 | (75,743) | - | ||
| TOTALFUNDS | a 847,168 |
—__— 75,720 |
—___ - |
——— 922,888 |
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| Netmovement in funds, includedinthe above are | as.follows: | |||||
| Incoming resources £ |
Resources expended £ |
§Movement infimds £ |
||||
| Unrestricted funds General fund |
241,559 | (241,582) | (23) | |||
| Restricted funds BuildingFund |
75,743 | - | 75,743 | |||
| TOTALFUNDS | 317,302 | (241,582) | 75,720 | |||
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| | ¢ “THE NALANDA TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023
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|---|---|---|---|---|
|Comparatives|for movement|ip|funds|
|.|Net|
|movement|At|
|At|1.1.22|in|funds|31.12.22|
|£|£|£|
|Unrestricted funds|
|RevaluationGeneral|fund Reserve|745,714100,000|1,454-|747,168100,000|
|845,714|1,454|847,168|
|TOTAL FUNDS|845,714|1,454|$47,168|
|Comparative net|movement in|funds, included in the above are as follows:Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|fonds|
|General fund|206,070|(204,616)|1,454|
|TOTAL FUNDS|206,070|(204,616)|1,454|
|The purpose ofeach restricted fund was as follows:|
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Building Fund - The building fund represents monies taised to pay off the mortgage on the property. As this was 21. achievedRELATED PARTY during the year DISCLOSURES the monies have been transferred to General Funds. ‘There were no related party transactions for the year ended 31 December 2023.
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