The Oxford Centre for Buddhist Studies - Charities report - 22.2
The Oxford Centre for Buddhist Studies - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Trustees' Report and |
| Unaudited Financial Statements for the Year Ended 31 March 2022 |
| for |
| The Oxford Centre for Buddhist Studies |
| The Oxford Centre for Buddhist Studies |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2022 |
| Page |
| Trustees' Report | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 | to | 12 |
| The Oxford Centre for Buddhist Studies (Registered number: 05834539) |
| Trustees' Report |
| for the Year Ended 31 March 2022 |
| 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 2022. 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. |
| The Centre continues with its Access Initiatives. |
| The Pali programme online provides a full learning pathway for potential students. It starts with a comprehensive introduction, which leaves students able to translate Pali texts themselves, with the help of study aids such as dictionaries. Levels 2 -3 build on this proficiency and Level 4 offers the chance to work in a more advanced way with Pali texts, and verse. The courses continue to prove popular and garner good reviews. |
| We also carried out an online Advanced Pali Reading course in August 2021 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 over a decade ago, which has been acclaimed for its ease of use. |
| The Pali Hub goes from strength to strength. This project is building a comprehensive bibliography of all scholarship related to Pali and Early Buddhism available on the web. It now stands at over 12,000 records and plans are in place for further development. |
| Professor Gombrich gave personal individual Pali teaching, as well as an "Introduction to Buddhism" talk to students of the Institute of Education at the University. Both took place online. |
| The library's catalogue will shortly be available online, and the local public are able to become members, and borrow books. Plans are being developed to host events at the library, to further engage the local population, once circumstances permit. |
| The Centre continues to publish its Journal, with a strong commitment towards intelligibility whilst preserving academic rigour. This year it moved to a single annual publication schedule, although the amount of content provided was maintained. |
| There was another Academic visitor this year to Oxford University. Minyak Rinpoche, from the Drepung Monastery in Mundgod, Southern India, spent the Hilary term at the University providing assistance to students there in Tibetan Buddhism. This programme, which brings academic monastics to the University, is always received with enthusiasm. |
| The main activities undertaken during the year to further the charity's purpose for the public benefit. |
| As the world continues to find online resources increasingly important, the Centre is strategically placed to provide an important contribution to 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. |
| The Centre also continues its readiness to support Buddhist Studies at the University of Oxford through the actions listed in the previous section. |
| The Oxford Centre for Buddhist Studies (Registered number: 05834539) |
| Trustees' Report |
| for the Year Ended 31 March 2022 |
| OBJECTIVES AND ACTIVITIES |
| 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 ensure 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 plans to train teachers to deliver those courses. |
| This year the charity also started negotiations on a major translation project which would ensure its future for the next 10 - 15 years, as well as providing an important resource in translated texts. Discussions are ongoing. |
| The charity's strategies for achieving its aims and objectives in the future. |
| 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. |
| How the activities undertaken during the year contributed to the achievement of the aims and objectives. |
| The continuation 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 Advanced Reading course, and Pali Hub build on this, creating a growing community of people actively engaged in Pali studies. |
| Its involvement with Buddhist Studies at Oxford included promoting lectures, and the hosting of visiting scholars. |
| 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, gaining praise for the setup of its resources. |
| 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 investments |
| 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 provides online resources in Early Buddhist scholarship which are completely open access. |
| 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 bibliography. Its online ventures have also been supported by voluntary input from technical and teaching staff. |
| The Oxford Centre for Buddhist Studies (Registered number: 05834539) |
| Trustees' Report |
| for the Year Ended 31 March 2022 |
| OBJECTIVES AND ACTIVITIES |
| Grant making policies and how these contributed to the charity during the year. |
| There were no grants awarded this year. |
| The main achievements and performance of the charity during the year. |
| The Centre has held a large schedule of online activities this year, furthering its goals in education, stimulating Pali Studies, and disseminating the fruits of scholarship to a wider public. The on demand online courses have proven an increasingly important provision during the global pandemic. It has kept good financial reserves, is involved in detailed negotiations on a major project, 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, as well as developing a large project that would ensure its survival for the next 10 - 15 years. |
| 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 and pursue their academic interests. |
| 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. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| The Oxford Centre for Buddhist Studies (Registered number: 05834539) |
| Trustees' Report |
| for the Year Ended 31 March 2022 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Independent Examiner |
| Chapman Robinson and Moore Limited |
| 30 Bankside Court |
| Stationfields |
| Kidlington |
| Oxford |
| OX5 1JE |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| The Oxford Centre for Buddhist Studies |
| 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 2022. |
| 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: ............................................. |
| The Oxford Centre for Buddhist Studies |
| Statement of Financial Activities |
| for the Year Ended 31 March 2022 |
| 31/3/22 | 31/3/21 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Total |
| EXPENDITURE ON |
| Raising funds | 2 |
| Charitable activities |
| Other | ( |
) |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 110,313 |
| The Oxford Centre for Buddhist Studies (Registered number: 05834539) |
| Balance Sheet |
| 31 March 2022 |
| 31/3/22 | 31/3/21 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 93,177 |
| Restricted funds | 17,136 |
| TOTAL FUNDS | 110,313 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 |
| The Oxford Centre for Buddhist Studies |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2022 |
| 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 | - |
| Computer equipment | - |
| 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. | RAISING FUNDS |
| Raising donations and legacies |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Support costs |
| The Oxford Centre for Buddhist Studies |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Depreciation - owned assets |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. |
| Trustees' expenses |
| In 2022 trustees were reimbursed a total of £NIL for expenses incurred performing duties for the charity. (2021 - £NIL) |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 31/3/22 | 31/3/21 |
| Administration |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other | ( |
) | ( |
) |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 68,029 | 23,046 |
| TOTAL FUNDS CARRIED FORWARD | 93,177 | 17,136 | 110,313 |
| The Oxford Centre for Buddhist Studies |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 7. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/22 | 31/3/21 |
| £ | £ |
| Trade creditors |
| Deferred income | 100 | - |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1/4/21 | in funds | 31/3/22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 93,177 | (27,054 | ) | 66,123 |
| Restricted funds |
| General Fund | 17,136 | (2,284 | ) | 14,852 |
| TOTAL FUNDS | (29,338 | ) | 80,975 |
| The Oxford Centre for Buddhist Studies |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 10. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 37,993 | (65,047 | ) | (27,054 | ) |
| Restricted funds |
| General Fund | 6,500 | (8,784 | ) | (2,284 | ) |
| TOTAL FUNDS | ( |
) | (29,338 | ) |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1/4/20 | in funds | 31/3/21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 68,029 | 25,148 | 93,177 |
| Restricted funds |
| General Fund | 23,046 | (5,910 | ) | 17,136 |
| TOTAL FUNDS | 91,075 | 19,238 | 110,313 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 83,827 | (58,679 | ) | 25,148 |
| Restricted funds |
| General Fund | 6,000 | (11,910 | ) | (5,910 | ) |
| TOTAL FUNDS | 89,827 | (70,589 | ) | 19,238 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1/4/20 | in funds | 31/3/22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 68,029 | (1,906 | ) | 66,123 |
| Restricted funds |
| General Fund | 23,046 | (8,194 | ) | 14,852 |
| TOTAL FUNDS | 91,075 | (10,100 | ) | 80,975 |
| The Oxford Centre for Buddhist Studies |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 10. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 121,820 | (123,726 | ) | (1,906 | ) |
| Restricted funds |
| General Fund | 12,500 | (20,694 | ) | (8,194 | ) |
| TOTAL FUNDS | 134,320 | (144,420 | ) | (10,100 | ) |
| Details of restricted funds in the year are as follows: |
| Opening01/04/21 | Income | Expense | Closing31/03/22 |
| Pali Teaching - DIRI DEF | £0 | £6,000 | £6,000 | £0 |
| Pali Hub-Greco/Bhanubandh | £9,103 | £0 | £584 | £8,519 |
| Pali Canon Access Project | £0 | £500 | £500 | £0 |
| Chinese Contemporary Buddhism | £3,700 | £0 | £0 | £3,700 |
| Sanjukta's Fund | £4,333 | £0 | £1700 | £2,633 |
| 11. | RELATED PARTY DISCLOSURES |