| 2020 | 2019 | |||
|---|---|---|---|---|
| Income from | ||||
| Donations | 60,124 | 50,883 | ||
| Investment | income | |||
| Interest | 245 | 327 | ||
| charitable | activities | |||
| Retreats | 307 | 5,873 | ||
| Classes and | courses | 3,010 | 15,542 | |
| Rent | 10,577 | 28,596 | ||
| Events | 1,236 | 1,308 | ||
| Otherincome | 1,106 | 1,988 | ||
| Shop income | 507 | 1616 | ||
| Total | 77,111 | 106,333 | ||
| Expenditure | on | |||
| Charitable | activities | 100,642 | 102,771 | |
| Total | 100,642 | 102,771 | ||
| Net income/ (expenditure) |
(23,531) | 3,562 | ||
| Loss on revaluation | offixed assets | |||
| Net movement in funds |
(23,531) | 3,562 | ||
| Total funds | brought | forward | 410,507 | 406,945 |
| Total funds | carried | forward | 386,977 | 410,507 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Tangible assets | 294,067 | 303,234 | |||
| Current assets | |||||
| Debtors | 5,720 | 7,440 | |||
| Cash on hand | 204 | 62 | |||
| Cash at bank | 87,931 | 100,842 | |||
| 93,855 | 108,344 | ||||
| Current liabilities |
|||||
| Creditors: amounts | falling | ||||
| due within 12months | (945) | (1,070) | |||
| Net Current assets | 92,910 | 107,274 | |||
| Net assets | 386,977 | 410,507 | |||
| Unrestricted funds |
|||||
| General funds | 386,977 | 410,507 |
| Notes to the accounts for the year ended 31st.December 2020 | ||||
|---|---|---|---|---|
| (1) Principal Accounting Policies |
||||
| The principal accounting policies adopted in the preparation ofthe financial statements |
||||
| are set out below and have remained unchanged from the previous year except |
||||
| for SORP compliance changes. |
||||
| (a) Basis of preparation | ||||
| The charity constitutes a public benefit entity as defined by FRS 102.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)2nd edition | ||
| and the Charities Act 2011. |
||||
| The financial statements have been prepared under the historical cost convention. |
||||
| (b) Fund accounting | ||||
| [i] Unrestricted funds are available for use at the discretion ofthe trustees in furtherance |
of | |||
| the general objectives ofthe charity. | ||||
| [ii]Designated funds are unrestricted funds earmarked by the Management Committee |
for | |||
| particular purposes. |
||||
| [iii] Restricted funds are subjected to restrictions on their expenditure imposed by the donor |
||||
| or through the terms ofan appeal. |
||||
| (c) Income | ||||
| Income is included in the statement offinancial activities when the charity |
||||
| is entitled to the income and the amount can be quantified with reasonable accuracy. The |
||||
| following specific policies are applied to particular categories of income. |
||||
| [i] Income received by way of grants, donations and gifts and is included in full |
||||
| in the Statement of Financial Activities when receivable. Grants, where entitlement |
is not | |||
| conditional on the delivery ofa specific performance by the charity, are recognised |
when | |||
| the charity becomes unconditionally entitled to the grant. |
||||
| [ii] Donated services and facilities are included at the value to the charity where this |
can be | |||
| quantified. | ||||
| [iii]The value ofservices provided by volunteers has not been included in these accounts. |
||||
| [iv] Investment income is included when receivable. |
||||
| [v]Income from charitable trading activity are accounted for when earned. |
||||
| [vi]Income from grants, where related to performance and specific deliverables, |
||||
| are accounted for as the charity earns the right to consideration by its performance. |
||||
| (d) Expenditure | ||||
| Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure |
includes | |||
| any VAT which cannot be fully recovered | ||||
| [i]Costs of generating funds comprise the costs associated with attracting voluntary |
||||
| income and the costs oftrading for fundraising purposes. |
||||
| [ii]Charitable expenditure comprises those costs incurred by the charity in the delivery |
of | |||
| its activities and services for its beneficiaries. It includes both costs that can be allocated |
||||
| dirctly to such activities and those costs ofan indirect nature necessary to support |
them | |||
| [iii]AII costs are allocated between the expenditure categories ofthe SoFA on a basis |
||||
| designed to reflect the use ofthe resource. Costs relating to a particular activity are |
||||
| allocated directly, others are apportioned on an appropriate basis. |
| Freehold | Land and | Buildings | 2/o | reducing | balance | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Artefacts | 5/o | reducing | balance | |||||||
| Library | 20/o | reducing | balance | |||||||
| Fixtures, | fittings and | equipment | 20/o | straight | line | |||||
| Office equipment | 33/o | reducing | balance | |||||||
| (2)Tangible Assets | Office | Fixtures | gt | |||||||
| Building | Equipment | Artefacts | Library | fittings | Total | |||||
| E | E | E | E | f | f | |||||
| Cost: | ||||||||||
| balance brought fwd |
270,000 | 6,849 | 18,507 | 569 | 33,809 | 329,734 | ||||
| additions | in the year | |||||||||
| 270,000 | 6,849 | 18,507 | 569 | 33,809 | 329,734 | |||||
| Depreciation | ||||||||||
| balance brought forward | 5,400 | 4,727 | 4,902 | 351 | 11,121 | 26,501 | ||||
| charge for the year | 5,400 | 597 | 754 | 36 | 2,378 | 9,165 | ||||
| 10,800 | 5,324 | 5,656 | 387 | 13,499 | 35,666 | |||||
| Net book | value at 31/12/2020 | |||||||||
| 259,200 | 1,525 | 12,851 | 182 | 20,310 | 294,067 | |||||
| Net book | value at 31/12/2019 | |||||||||
| 264,600 | 2,122 | 13,605 | 218 | 22,688 | 303,234 |
| (3) Creditors and accruals Creditors: amounts falling due within 12months |
||
|---|---|---|
| 2020 | 2019 | |
| Sundry creditors | 945 | 1,070 |
| (4) Debtors and prepayments | ||
| Gift Aid recoverable | 5,720 | 7,440 |
| Total | Total | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Shop cost ofsales | 586 | 1,352 | |||
| Fundraising costs |
|||||
| IT | 2,025 | 2,673 | |||
| Insura nce | 2,124 | 2,080 | |||
| Cleaning and caretaking |
1,017 | 1,767 | |||
| Shrine expenses | 26 | 104 | |||
| Library | 23 | ||||
| Catering | 52 | 695 | |||
| Repairs and renewals | 1,629 | 1,460 | |||
| Health and safety | 438 | 1,588 | |||
| Publicity | 103 | ||||
| Print, post and stationery | 458 | 694 | |||
| Waste disposal and recycling |
640 | 1,213 | |||
| Donations to Central Triratna | 5,328 | 5,182 | |||
| School work | 581 | ||||
| Teachers fees | 958 | 704 | |||
| Telephone | 889 | 988 | |||
| Heat light and water | 1,939 | 2,632 | |||
| Non capitalised equipment |
1,143 | 25 | |||
| Council Tax | 354 | 1,182 | |||
| Retreat accommodation | 5,109 | ||||
| Sa laries and wages | 65,478 | 57,320 | |||
| Retreat allowance | 2,454 | 2,751 | |||
| Trustees expenses | 289 | 746 | |||
| Sangha development | 262 | ||||
| Mitra Convenor expenses | 1,008 | ||||
| Other donations | 500 | ||||
| Miscellaneous expenses |
694 | 70 | |||
| Bank charges and service | fees | 340 | |||
| Professional fees |
1,956 | ||||
| Independent examiner's |
fees | 500 | 475 | ||
| Depreciation | 9,165 | 9,643 | |||
| 100,642 | 102,771 |
| 2019 | 2018 | ||||
|---|---|---|---|---|---|
| Income from | |||||
| Donations | 50,883 | 60,253 | |||
| Investment | income | ||||
| Interest | 327 | 339 | |||
| charitable | activities | ||||
| Retreats | 5,873 | 11,381 | |||
| Classes and | courses | 15,542 | 11,271 | ||
| Rent | 28,596 | 36,380 | |||
| Events | 1,308 | 5,348 | |||
| Other income | 1,988 | 1,345 | |||
| Shop income | 1,816 | 2,074 | |||
| Total | 106,333 | 128,391 | |||
| Expenditure | on | ||||
| Charitable | activities | 102,771 | 106,818 | ||
| Total | 102,771 | 106,818 | |||
| Net income/ | (expenditure) | 3,562 | 21,573 | ||
| Loss on revaluation | offixed assets | ||||
| Net movement in funds |
3,562 | 21,573 | |||
| Total funds | brought | forward | 406,945 | 385,373 | |
| Total funds | carried | forward | 410,507 | 406,945 |