The Oxford Centre for Buddhist Studies - Charities report - 20.2

REGISTERED COMPANY NUMBER: 05834539 (England and Wales)

REGISTERED CHARITY NUMBER: 1114960

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 March 2020

for

The Oxford Centre for Buddhist Studies

Page

Trustees' Report

1

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

15

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report

with the financial statements of the charity for the year ended 31 March 2020. 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

The purpose of the charity as set out in its governing document

The object of the Charity is to advance the education of the public by holding and administering funds for permanent

and temporary teaching posts, and temporary research posts, in Buddhist Studies at Oxford University; by the

administration of teaching and research activities in Buddhist Studies undertaken at Oxford University; and by

agreeing arrangements for collaboration in respect of Buddhist Studies teaching and research with the University of

Oxford (and Colleges, Faculties and Departments within it), and with other organisations involved in generating and

diffusing academically sound information about the Buddhist Tradition.

The main activities undertaken in relation to those purposes during the year.

This year the Centre concentrated on developing its pioneering set of online courses teaching Pali. The first three

levels deliver a comprehensive introduction, and by the end, students are able to translate Pali texts themselves, with

the help of study aids such as dictionaries. A further level is in development, which offers the chance to work in a

more advanced way with Pali texts. Uptake has continued to be strong, with very good reviews.

The Pali Reading Club is an online teaching resource which gives graduates of the online courses the chance to expand

their studies by meeting virtually during the year to continue Pali translation.

We also carried out an Advanced Pali Reading course in August 2019 for graduates of the introductory course. This

helps them deepen their studies, and translation skills.

Thus, the Centre continues to provide a coherent learning pathway for those interested in Pali to progress from very

little knowledge to an advanced level. This pathway is open to anyone who is interested, and has the time to follow

their studies. It is built on the signature introductory course developed by Professor Gombrich which has been

acclaimed for its ease of use.

Professor Gombrich gave personal individual Pali teaching both to students at the University and to other individuals,

as well as an "Introduction to Buddhism" talk to students of the Institute of Education at the University. He also gave

talks to various visiting scholars and education professionals who were interested in his approach and experience.

The Centre continued to deliver lectures that supplement the University schedule. These are attended both by

students and faculty at the University, along with members of the public. These lectures are also posted on our

website so that anyone in the world with internet access can listen to them free of charge.

The library's catalogue is now available online, and the local public are able to become members, and borrow books.

A visiting scholar, Shanta Kumar Negi, was resident at the university in Hilary term 2020. The Centre assisted So-Wide

(another charity) in this visit. He gave lectures and helped students with their studies. His visit was very well received

by students and staff.

The Centre also hosted one visiting academic from Taiwan. She came from Fo Guang University for three weeks, and

was carrying out research with the Academic Director.

The Centre continues to publish its Journal, with a strong commitment to intelligibility whilst preserving academic

rigour. Two numbers are published each year, in May and November.

The Centre continued its development of the Pali Hub, whose central plank is a bibliography of all Pali Buddhist

articles. (This was launched three months later). It also comprises the Richard Gombrich Digital Archive.

The Centre gave three grants this year, to assist students at the University in their research.

The main activities undertaken during the year to further the charity's purpose for the public benefit.

As the world finds itself moving online, the Centre is strategically placed to provide an important resource in Buddhist

Studies. We have developed, and continue to improve, an internet platform that includes teaching, research aids, and

lectures, that helps people deepen their studies during this time.

The Centre also continues its readiness to support Buddhist Studies at the University of Oxford through the actions

listed in the previous section.

The short term and longer term aims and objectives.

The long term aims of the charity are to establish the Centre in Buddhist Studies permanently. Teaching courses

ensures the development of Pali scholarship in the West after a period of decline. The framework for study provided

by the Centre provides interested parties with many resources to explore Buddhism.

In the short term, the continued success of the online on-demand courses has provided the opportunity to expand its

teaching activities exponentially, whilst generating a small income for the Centre. New courses with an even wider

appeal - such as courses on the Buddha, and early Buddhism - are being developed.

The Centre is moving ahead on translating the Pali Introductory course to Marathi and Mandarin versions, and plans

to train teachers to deliver those courses.

The charity's strategies for achieving its aims and objectives in the future.

The charity continues to develop a portfolio of activities that are relevant to the modern world, and provide differing

ways of engaging with Buddhist Studies worldwide.

The charity continues developing relationships with several academic bodies to ensure that its plans can be brought to

fruition, including renewing an important collaboration agreement this year. By careful planning, it is also seeking

financial support from interested parties so that the projects can be fully realised. The online on-demand courses have

raised the profile of the Centre, and continue to be the centre of its current strategy.

How the activities undertaken during the year contributed to the achievement of the aims and objectives.

The launch of the online on-demand courses is proving a very effective way to fulfil the Centre's aim of disseminating

Buddhist scholarship to as large an audience as possible. The Pali Reading Club, and Advanced Reading course build

on this, creating a growing community of people actively engaged in Pali studies.

Its involvement with Buddhist Studies at Oxford included a lecture series, hosting of visiting scholars, and awarding of

grants.

Resources used in the activities undertaken during the year.

The Centre has made extensive use of technology within the last year, exploring the simplest and most satisfactory

ways to deliver teaching online. It has had great success with this, garnering praise for the setup of its courses.

The Centre has used a large part of its resources to employ two members of paid staff, an Office Manager and an

Operations and Development Manager; the Centre has offices rented from Wolfson College, Oxford University.

Social investment policies and how these contributed to the achievement of charity's aims and objectives during

the year.

The Centre has provided reductions in its course fees to students with reduced financial means who have shown an

aptitude for the work.

Lectures are provided free of charge on its website, and volumes of its Journal become open access after one year.

The Pali Hub development will also provide open access resources in Early Buddhist scholarship.

The contribution of volunteers during the year.

The Centre has benefited from voluntary help in the cataloguing of its library, and the preparation of a Pali

bibilography. Its online ventures have also been supported by voluntary input from technical and teaching staff.

Grant making policies and how these contributed to the charity during the year.

The Centre awarded three grants of £500 each this year. These went to students at the University of Oxford, to assist

them in their graduate studies.

The main achievements and performance of the charity during the year.

The Centre has held a wide and varied schedule of activities this year, furthering its goals in education, stimulating Pali

Studies, and disseminating the fruits of scholarship to a wider public. Its move into on-demand courses is a bold step

in making its teaching activities more widely available, and the take-up has proven very gratifying. It has kept good

financial reserves and is in a strong position to build for the future.

Fundraising activities during the year.

The Centre has a good relationship with several existing and prospective supporters, which it has cultivated during the

year. An Annual Review is produced which lays out the achievements of the last year, along with proposed plans and

financial realities.

The difference the charity's performance during the year has made to the beneficiaries of the charity.

Thanks to the Centre's operation, students and members of the public have gained access to educational activities

that would not otherwise be available. Pali studies is receiving a lot of support: students both within Oxford University

and abroad are being given the chance to deepen their knowledge.

Through the Journal, lecture series, teaching and other activities, the Centre has contributed and supported

advancement in the academic discussion of Buddhism in the modern world.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing documents, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006. As of 01/08/20 the Centre is no longer a Recognised Independent

Centre of the University, as the University has retired the category. A Memorandum of Understanding is being

developed to replace the previous agreement.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05834539 (England and Wales)

Registered Charity number

1114960

Registered office

Wolfson College

Linton Road

Oxford

Oxfordshire

OX2 6UD

Trustees

Mr G M Bamford Retired

Mrs J R Block Retired corporate executive, CLO

Venerable Dr K Dhammasami Buddhist Monk

Professor D N Gellner University Teacher

Professor R F Gombrich Retired academic

Ms V Y Jin Chief Strategist & Chief Counsel

Professor R B Kapadia Educational Consultant

Dr A J L Morris Book Publisher

Dr U Pannyawamsa Buddhist Monk

Dr A L Strathern Associate Professor of Modern History

Dr J C Westerhoff Associate Professor

Professor S Zacchetti Professor of Buddhist Studies (deceased 29/4/2020)

Mr C Shaw

Company Secretary

Mrs S Gianni

Independent Examiner

Chapman Robinson and Moore Limited

30 Bankside Court

Stationfields

Kidlington

Oxford

OX5 1JE

Approved by order of the board of trustees on 27 October 2020 and signed on its behalf by:

Professor R B Kapadia - Trustee

Independent examiner's report to the trustees of The Oxford Centre for Buddhist Studies ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible

for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act

and are eligible for independent examination, I report in respect of my examination of your charity's accounts as

carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have

followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Alan Sowden

Statutory Auditor

Chapman Robinson and Moore Limited

30 Bankside Court

Stationfields

Kidlington

Oxford

OX5 1JE

Date: .............................................

31/3/20

31/3/19

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

15,553

7,500

23,053

41,125

Charitable activities

Charitable activities

25,888

-

25,888

14,529

Library

-

-

-

7,488

Other income

7

-

7

-

Total

41,448

7,500

48,948

63,142

EXPENDITURE ON

Charitable activities

Charitable activities

84,328

13,500

97,828

85,859

Other

3,699

-

3,699

1,824

Total

88,027

13,500

101,527

87,683

Net gains on investments

-

-

-

1,934

NET INCOME/(EXPENDITURE)

(46,579

)

(6,000

)

(52,579

)

(22,607

)

RECONCILIATION OF FUNDS

Total funds brought forward

125,154

18,500

143,654

166,261

TOTAL FUNDS CARRIED FORWARD

78,575

12,500

91,075

143,654

31/3/20

31/3/19

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

6

829

-

829

863

CURRENT ASSETS

Debtors

7

30,821

-

30,821

14,718

Investments

8

24,018

-

24,018

50,761

Cash at bank

36,358

12,500

48,858

87,990

91,197

12,500

103,697

153,469

CREDITORS

Amounts falling due within one year

9

(13,451

)

-

(13,451

)

(10,678

)

NET CURRENT ASSETS

77,746

12,500

90,246

142,791

TOTAL ASSETS LESS CURRENT LIABILITIES

78,575

12,500

91,075

143,654

NET ASSETS

78,575

12,500

91,075

143,654

FUNDS

10

Unrestricted funds

78,575

125,154

Restricted funds

12,500

18,500

TOTAL FUNDS

91,075

143,654

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2020 and were signed on its behalf by:

Professor R B Kapadia - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been

prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement

of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial

Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention, as

modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds,

it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement

and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis

and has been classified under headings that aggregate all cost related to the category. Where costs cannot be

directly attributed to particular headings they have been allocated to activities on a basis consistent with the

use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery

-

25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity.

Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Restricted funds are made up of money used for Pali teaching - Diri Def, Student awards and Research into

buddhism.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the

charitable company's pension scheme are charged to the Statement of Financial Activities in the period to

which they relate.

2.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31/3/20

31/3/19

£

£

Depreciation - owned assets

302

288

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2020 nor for the year

ended 31 March 2019.

Trustees' expenses

In 2020 trustees were reimbursed a total of £NIL for expenses incurred performing duties for the charity.

(2019 - £141.88)

4.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31/3/20

31/3/19

Administration

2

3

No employees received emoluments in excess of £60,000.

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

23,625

17,500

41,125

Charitable activities

Charitable activities

14,529

-

14,529

Library

7,488

-

7,488

Total

45,642

17,500

63,142

EXPENDITURE ON

Charitable activities

Charitable activities

61,859

24,000

85,859

Other

1,824

-

1,824

Total

63,683

24,000

87,683

Net gains on investments

1,934

-

1,934

NET INCOME/(EXPENDITURE)

(16,107

)

(6,500

)

(22,607

)

RECONCILIATION OF FUNDS

Total funds brought forward

141,261

25,000

166,261

TOTAL FUNDS CARRIED FORWARD

125,154

18,500

143,654

6.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

3,134

328

3,462

Additions

-

268

268

At 31 March 2020

3,134

596

3,730

DEPRECIATION

At 1 April 2019

2,517

82

2,599

Charge for year

173

129

302

At 31 March 2020

2,690

211

2,901

NET BOOK VALUE

At 31 March 2020

444

385

829

At 31 March 2019

617

246

863

7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/20

31/3/19

£

£

Trade debtors

-

8,589

Schroeders

25,000

-

Other debtors

2,945

2,600

Prepayments and accrued income

-

433

Prepayments

2,876

3,096

30,821

14,718

8.	CURRENT ASSET INVESTMENTS

31/3/20

31/3/19

£

£

Schroders

24,018

50,761

There were no investment assets outside the UK.

Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on

revaluation is taken to the SOFA.

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/20

31/3/19

£

£

Trade creditors

8,667

6,053

Other creditors

-

2,885

Deferred income

-

160

Accrued expenses

4,784

1,580

13,451

10,678

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/19

in funds

31/3/20

£

£

£

Unrestricted funds

General fund

125,154

(46,579

)

78,575

Restricted funds

General Fund

18,500

(6,000

)

12,500

TOTAL FUNDS

143,654

(52,579

)

91,075

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,448

(88,027

)

(46,579

)

Restricted funds

General Fund

7,500

(13,500

)

(6,000

)

TOTAL FUNDS

48,948

(101,527

)

(52,579

)

Comparatives for movement in funds

Net

movement

At

At 1/4/18

in funds

31/3/19

£

£

£

Unrestricted funds

General fund

141,261

(16,107

)

125,154

Restricted funds

General Fund

25,000

(6,500

)

18,500

TOTAL FUNDS

166,261

(22,607

)

143,654

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

45,642

(63,683

)

1,934

(16,107

)

Restricted funds

General Fund

17,500

(24,000

)

-

(6,500

)

TOTAL FUNDS

63,142

(87,683

)

1,934

(22,607

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1/4/18

in funds

31/3/20

£

£

£

Unrestricted funds

General fund

141,261

(62,686

)

78,575

Restricted funds

General Fund

25,000

(12,500

)

12,500

TOTAL FUNDS

166,261

(75,186

)

91,075

A current year 12 months and prior year 12 months combined net movement in funds, included in the above

are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

87,090

(151,710

)

1,934

(62,686

)

Restricted funds

General Fund

25,000

(37,500

)

-

(12,500

)

TOTAL FUNDS

112,090

(189,210

)

1,934

(75,186

)

11.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2020.

12.	CONSULTANCY COSTS

Included in charitable activities are £6,000 (2018: £6,000) of consultancy costs allocated against the activities

that the work undertaken relates to.