Registered number
11328551
China Britain Trust for the Promotion of Buddhist Studies (A company Limited by Guarantee)
Report of the Trustees and unaudited Filleted Accounts
30 April 2023
China Britain Trust for the Promotion of Buddhist Studies (A company Limited by Guarantee)
Registered number: 11328551
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 225,425 38,482
Creditors: amounts falling due within one year 3 (251,367) (47,866)
Net current liabilities (25,942) (9,384)
Net liabilities (25,942) (9,384)
Capital and reserves
Profit and loss account (25,942) (9,384)
Shareholders' funds (25,942) (9,384)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mikky Ho
Director
Approved by the board on 22 January 2024
China Britain Trust for the Promotion of Buddhist Studies (A company Limited by Guarantee)
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 251,367 47,866
5 Guarantee
The company is limited by guarantee and does not have a share capital. Each member's guarantee is limited to £1.
6 Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 30 April 2023.
There were no trustees' expenses paid for the year ended 30 April 2023.
4 Trustees and other related parties
No payments were made to trustees or any persons connected with them during this financial year. No material transaction took place between the organizaiton and a trustee or any person connected with them.
5 Public Benefit
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposed or 'aims' that are for the public benefit. Details of how the charity has achieved this are provided in the Report of the Trustees. The trustees confirm that they have paid due regards to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
6 Other information
China Britain Trust for the Promotion of Buddhist Studies (A company Limited by Guarantee) is a private company limited by shares and incorporated in England. Its registered office is:
5 Lisle Street
London
UK
WC2H 7BF
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