Company Registration Number 02708323 HERUKA KADAMPA MEDITATION CENTRE REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Registered Charity Number 1011646
HERUKA KADAMPA MEDITATION CENTRE CONTENTS FOR THE YEAR ENDED 31" DECEMBER 2025 Contents Legal & Administrative Information page 4 Trustees Annual Report page 5-7 Independent Examinerfs Report to the Trustees page 8 Statement of Financial Activities page 9 Balance Sheet page 10 Notes to the Accounts page 11-14
HERUKA KADAMPA MEDITATION CENTRE LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31" DECEMBER 2025 The Trustees, who are also directors for the purpose of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the financial year ended 31 December 2025. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty Name Heruka Kadampa Meditation Centre Company Registration Number 02708323 Registered Charity Number 1011646 Reglstered Office 13 Woodstock Road London NWII 8ES England Trustees The trustees who Seed the charity during the period were as follows.. Lisa Marie Devine Douglas Robb David Reed Secretsry Robert Dennis Bankers HSBC 26 Broad Street Reading Berkshire RGI 2BU Independent Examiner Community 360 Winsley's HoLsse High Street Colchester Essex COI IUG
HERUKA KADAMPA MEDITATION CENTRE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31" DECEMBER 2025 STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The Charity is constituted as a company limited by guarantee under the Companies Att and governed by its memorandum and Articles of Association and is also a registered charity. Trustee Recruitment and Training Of the three Trustees, two elected Trustees are recruited from within the centre or from other similar centres so that they have knowledge and understanding of the charity's aims and workings. To be elected or appointed as a Trustee, the nominee must be a member of the charity and are elected by members at the Annual General Meeting or by the Trustees when the need arises according to the Articles of Association. The third Trustee is an ex-officio Trustee, by virtue of them being the Administrative Director of a centre specified in the Articles of Association. Each new Trustee 15 guided by the current trustees and other member5 Qf the organisation, in particular the Administrative Director and Resident Teacher, who have vast experience within the organisation. Related Charities The charity is a member of the New Kadampa Tradition- International Kadampa Buddhist Union I'NKT-IKBU'I, which is made up of many centres throughout the world with the same objects, however they are all independent charities linked only by their objects and there is no financial dependency although funds may pass between centres to fulfil aims and objectives. OBJEcfivES AND AcfiviTIES Objerts The objects of the charity are to promote the Buddhist faith under the spiritual guidance of the elected Spiritual Director of the NKt-IKBU principally through activities of teaching, study, practice and the observance of moral discipline all within the Mahayana Buddhist Tradition of Atlsha and Je Tsongkhapa, as taught by Venerable Ge5he Kelsang Gyatso Rinpoche, the founder of the NKT-IKBU through the continuous implementation of the three NKT study programmes- the General Programme, Foundation Programme and Teacher Training Programme. Aims and Artivities The charity aims to provide facilities to enable students to study, prartice and observe the moral discipline as set out in the objects and this has been achieved so far by establishing the centre at Woodstock Road, London. The charity also holds numerous branch classes across London to provide teachings and insight to whomever wishes to attend. Volunteers The charity ha5 many volunteers from the local community, who are essential for the running of the charity and are involved in all aspects of it. We also offer wider opportunities to volunteer through volunteering visits.
HERUKA KADAMPA MEDITATION CENTRE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31" DECEMBER 2025 Public beneflts In exercising their powers and duties, the trustees have had due regard to the guidance on public benefit published by the Charity Commission. They believe that the work of the tharity in promoting the Buddhist faith has clearlv identifiable benefits. The charity believes that there are three important public benefits to promoting the Buddhist faith- to help people to develop their wisdom. to cultivate a good heart, and to maintain a peaceful mind. If we increase our wisdom, we will overcome the problems of our daily life, improve our relationships with others, and become of real benefit to a tToubled world. Benefit to the public The charity offers regular courses in Buddhist philosophy, psycholoBY and meditation, bringing personal and social benefit. These courses are accessible to the public for modest fees and everybody is welcome- Buddhist and non- Buddhist. The more advanced courses of instruction require a greater commitment of personal time from participants. The charity also maintains a year-round programme of prayers and meditation, again open to the public. ACHIEVEMENTS AND PERFORMANCE Heruka Kadampa Meditation Centre (Heruka KMCI continued to provide Kadam Dharma to the people of London through the three programmes.. General Programme, Foundation Programme and Teacher fraining Programme. During the year, numerous day and weekend courses at Heruka KMC were provided which were well attended. The Foundation Programme and the Teacher Training Programme continued and were also well attended. FINANCIAL REVIEW The financial position in 2025 showed a surplus of £92,975 compared with £83.237 in 2024. RESERVE5 POLICY The Trustees consider that the level of free reserves should be retained in liquid funds equivalent to cover up to six months overhead expenditure. These reserves are to be held in order to maintain the basic operations of the charity and to provide some surety against adverse financial events, such as income targets not being achieved or unexpected expenditure.
HERUKA KADAMPA MEDITATION CENTRE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31" DECEMBER 2025 Statement of Directors, and Trustees, Responsibilitie5 The trustees Iwho are a550 the dirertors of the Heruka Kadampa Meditation Centre for the purposes of company lawl are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that year. In preparing these financial statements, the trustees are required to: select the most suitable accounting policies and apply them consistentlv* observe the methods and principle5 in the Charities SORP,. make judgements and estimates that are reasonable and prudent- and prepare the financial statements on a going concern basis unless It is not appropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statement5 may differ from legislation in other jurisdictions. Approved by the trustees on OÉ t& and signed on their behalf bv- Signed on behaSf of the Trustees.. Douglas Robb
HERUKA KADAMPA MEDITATION CENTRE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31" DECEMBER 2025 I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2025 Responsibilities and basls of report The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for this year 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 20111"the 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 14515llbl of the 2011 Act. Independent examinerfs Statement Since the charity'5 gross income exceeded £250,000, I can confirm that l am qualified to undertake the examination by virtue of being a Fellow Member of the Institute of Chartered Secretaries and Administrators IICSAI, which is one of the listed bodie5. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that- accounting records were not kept in accordance with section 386 of the Companies Act 2006,. or the accounts do not accord with such records,. or the accounts do not comply with the relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which 15 not a matter considered as part of an independent examination,. or the account5 have not been prepared in accordance with the Charities SORP IFRS1021. 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. Community 360 Winsley's House, High Street, Colchester, Essex Date J Zoz6
HERUKA KADAMPA MEDITATION CENTRE STATEMENT OF FINANCIAL AcfiviTIES {including Income and Expenditure Account) FOR THE YEAR ENDED 31" DECEMBER 2025 Notes Unrestricted Restrirted Total Funds Total 2024 Income and endowmentsfrom: Donations and legacies Charitable activitie5 Investment income 43,333 321.429 43,333 321,429 18,703 292,170 805 Total incoming resources 365,885 365,885 311,678 Resources expended: Charitable Octivities 272 910 272 910 228 441 Total Resources expended 272,910 272,910 228.441 Net movement In funds Transfer between fund5 Funds at I" January 2025 Funds at 31 December 2025 1936 483 2 029 458 1936 483 2 029458 1853 246 1936 483 The statement of financial activities includes all gains and losses recognised in the two year5. All amounts relate to continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 11- 14 form part of these Accounts.
HERUKA KADAMPA MEDITATION CENTRE BALANCE SHEET AS AT 31" OECEMBER 2025 Note 2025 2025 2024 2024 Fixed Assets Tangible Assets 3,194,193 3,194,193 Current Assets Debtors Cash at bank and in hand Stock 1,392 91,909 5,302 66,262 95,850 73,461 Creditors: Amounts falling due within one year io 198,8051 197,6661 Net current assets/(liabilities} Total assets less current liabilities 3,191,238 3,169,988 Creditors: amounts falling due after one year 10 Net assets 1161780 2 029 458 1233 505 1936 483 Funds Unrestricted Restricted 2.029,458 1,936,483 Totsl Funds 2 029 458 1936 483 For the year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with settion 476 ofthe Companies Att 2006. The director5 acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies. regime. rhe direttors declare that they have approved the accounts above. Signed on behalf the trustees- Douglas Robb V IfknL Date tr io
HERUKA KADAMPA MEDITATION CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2025 1. Statement of accounting policie5 Basi5 of accounting The financial statements have been prepared in accordance with the tharitable company's memorandum and article5 of association. the Charities Act 2011 and ' Accounting and Reporting by Charities: Statement of Recommended Practice- Accounting and Reporting by Charities ISORP IFRS1021, second edition issued in January 20191" the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note5. Cash flow The financial statements do not include a cash flow statement because the charitV* as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard I "Cash flow statements." Incoming resources All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Investments income consists of bank interest received within the year. Resources expended All expenditUTe is accounted foT on an accTua15 b3515 and is Tecugni5ed when there 15 a legal Dr constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs related to the category. Costs classified as governance cost5 relate to costs incurred in connection with constitutional, audit and other statLStory requirements. Going concern These accounts have been prepared on a going concern ba515. dependant on the ongoing 5UPPOrt of the bank. Funds The charity maintains a general unrestricted fund which represents funds whith are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those fL¢nds in accordance with the restrictions placed upon them. Fixed assets Tangible fixed assets are stated at cost lor deemed c05tl less accumulated depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residu31 valLJe, of each asset on a Svstematic basis over their expected useful lives as follows.. Freehold Property Fixtures and fittings IO% reducing balance or balance of useful life. li
HERUKA KADAMPA MEDITATION CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2025 Taxation As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company and is therefore included in the relevant costs in the Statement of Financial Activities. 2. Voluntary Income Unrestricted Restricted Total Total 2025 2025 2025 2024 Donations 3. Investment income Unrestricted 2025 Restricted 20Z5 Total 2025 Total 2024 Interest receivable 1,123 1,123 805 4. Income frorn charitable activitles Unrestrirted 2025 Restrirted 2025 Total 2025 Total 2024 Courses and study programmes Accommodation Bookshop 84,334 234,461 84,334 234,461 59,361 231,159 321429 321429 292 170 5. Costs of charitable artivitie5 Unrestricted Restrirted 2025 Total 2025 Total 2024 2025 Courses and study programmes Accommodation Finance costs (note 61 Bookshop Governance costs Support costs 55,108 141,508 58,736 2,263 634 55108 141,508 58,736 2,263 634 16,175 132,806 71,318 1,190 1,161 272 910 272 910 12
HERUKA KADAMPA MEDITATION CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31" DECEMBER 2025 6. Finance costs Unrestrirted Restricted 2025 2025 Total Funds 2025 Total Fund5 2024 Interest payable Bank charges 57,441 57,441 70,642 676 7. Net Income for the year This Is stated after charging= Totsl 2025 Total 2024 Independent Examiners Fees 634 1,161 8. Tanglble Fixed Assets Freehold Fixt&Fittings Total Cost or valuation At I" January 2025 Disposals At 31" December 2025 3,194,193 24,644 124.6441 3,218,837 124,644} 3,194,193 3,194,193 Depreciation At I" January 2025 Charge for the year At 31" December 2025 24,644 124,6441 24,S44 124,644) Net book value At 31" December 2025 At 31" December 2024 3,194,193 3,194,193 3,194,193 3,194,193 NBV of tsngible fixed assets 2025 2024 13 Woodstock Road 11 Woodstock Road 17 Woodstock Road 871,048 1,223,145 I,ioo,000 871,048 1,223,145 I,ioo,000 13
HERUKA KADAMPA MEDITATION CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31" DECEMBER 2025 9. Debtor5 2025 2024 Prepayment Accrued Income Other debtors 295 848 249 4.540 612 150 10. Creditors: amounts falling due within a year 2025 2024 Bank loans and overdrafts Deferred Income Trade creditor5 Accruals Deposits 73,725 5,800 304 3,951 67,219 12,486 3,361 Creditors falllng due after more than one year 2025 2024 Bank loan5 and overdrafts Other long-term loans 800,780 361000 1 161780 872,505 361000 1233 505 The bank loans totalling £871,50512024- £936,724) are secured by a charge over the charity's 3 freehold propertie5. 11. Trustee remuneration and related party transactions None of the trustees has been paid any remuneration or received any other benefits from an employment with this charity or a related entity. None of the trustees has been paid any expenses in the current year. There were no other related party payments in either the current or prior years. 12. Staff costs The average monthly number of employees during the year was I (prior year: 11. No employee received remuneration exceeding £60,000 during the year. 14