2021-12-31-accounts - New Kadampa Tradition - International Kadampa Buddhist Union

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		Page
Report ofthe Trustees		1 to 10
Report ofthe Independent Auditors		11 to 14
Statement of Financial	Activities	15
Statement of Financial	Position	16 to 17
Statement ofCash Flows		18
Notes tothe Statement	of Cash Flows	19
Notes to the Financial	Statements	20 Io 39

						2021	2020
				Unrestricted	Restricted	Total	Total
			Notes	funds	fundsf	fundsf	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	511,950	33,215	545,165	977,657
Charitable activities International
Festivals				2,489,185		2,489,185	2,056,228
Tharpa Publications				216,459		216,459	224,933
Manlushri Kadampa Meditation		Centre		592,255		592,255	718,663
Shop and World Peace	Cafe			318,849		318,849	193,566
Kadampa Art Studio and Internet				30,335		30,335	65,884
Properties Income				460,638		460,638	204,386
Investment income				88		88	327
Total				4,619,759	33,215	4,652,974	4,441,644
EXPENDITURE ON
Charitable activities
Grants Payable				59,944	17,601	77,545	470,642
International Festivals				90,127	165	90,292	102,684
Tharpa Publications				166,569		166,569	163,040
Maniushri Kadampa Meditation		Centre		752,310		752,310	775,342
Kadampa Art Studio and Internet				92,154		92,154	220,206
Properties Expenditure International Kadampa	Development			176,400 1 088447		176,400 1 088447	394,517 ) ~7,756,898
Total				2,425,951	17,766	2,443,717	369,533
NET INCOME Transfers between funds			22	2,193,808 94	15,449 ~94	2,209,257	4,072,111
Net movement in funds				2,193,902	15,355	2,209,257	4,072,111
RECONCILIATION OF	FUNDS
Total funds brought forward				33,155,261	2,828,835	35,984,096	31,911,985
TOTAL FUNDS CARRIED FORWARD				35349163	2844190	38193353	35984096

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	E	E	F	6
FIXEDASSETS
Tangible assets	13	22,315,149	2,824,205	25,139,354	20,545,210
Investments	14	2,109		2,109	2,109
		22,317,258	2,824,205	25,141,463	20,547,319
CURRENT ASSETS
Stocks	15	395,360		395,360	349,854
Debtors	16	14,014,495		14,014,495	11,844,085
Investments	17		157,040	157,040	150,926
Cash at bank		4,253,464	19,389	4,272,853	7,243,598
		18,663,319	176,429	18,839,748	19,588,463
CREDITORS
Amounts falling due within one year	18	(3,177,376)	(156,444)	(3,333,820)	(1,468,332)
NET CURRENT ASSETS		15,485,943	19,985	15,505,928	18,120,131
TOTAL ASSETS LESSCURRENT
LIABILITIES		37,803,201	2,844,190	40,647,391	38,667,450
CREDITORS
Amounts falling due after more than one year	19	(2,454,038)		(2,454,038)	(2,683,354)
NET ASSETS		35349163	2044190	38193353	35904096
FUNDS	22
Unrestricted funds				35,349,163	33,155,261
Restncted funds				2844190	2828835
TOTAL FUNDS				38193353	35904096

			2021	2020
		Notes		8
Cash flows from operating	activities
Cash generated from operations Interest paid Net cash provided by operating activities		1	295,415 ~76,99)) 218424	1,575,059 ~88,47)) 1,486,588
Cash flows from investing	activities
Purchase oftangible fixed assets			(4,827,587)	(910,356)
Sale oftangible fixed assets Interest received Transfer offunds held on deposit Net cash (used in)/provided by investing		activities	171,457 88 ~6)) 4) ~4,662,)56)	3,239,911 327 ~8483) 2,321,399
Cash flows from financing	activities
Bank loan repayments in year			(224,813)	(218,585)
New concessionary loans in Net cash provided by/(used	year in) financing	activities	1,697,800 1,472,987	~2)8,585)
Change In cash and cash	equivalents
In the reporting period			(2,970,745)	3,589,402
Cash and cash equivalents	at the
beginning ofthe reporting	period		7,243,598	3,654,196
Cash and cash equivalents	at the end
ofthe reporting period			4,272,853	7,243,598

						2021f	2020f
Net Income for the	reporting			period (as per the Statement of
Financial Activities)						2,209,257	4,072,111
Adjustments for:
Depreciation charges						97,249	97,628
Profit on disposal of	fixed assets					(35,263)	(1,636,485)
Interest received						(88)	(327)
Interest paid						76,991	88,471
Increase in stocks						(45,506)	(10,009)
Increase in debtors Increase/(decrease)	in	creditors				(2,170,410) 163,185	(993,869) ~42,461)
Net cash provided	by	operations				295,415	1,575,059
ANALYSIS OF CHANGES			IN NET FUNDS/(DEBT)
					At 1/1/21	Cash flow	At 31/12/21
					F	f	f
Net cash Cash at bank					7,243.598 7243598	~2,970,745) ~2970745)	4,272,853 4272853
Liquid resources
Deposits included in	cash
Current asset investments					150,926	6,114	157,040
					150926	6,114	157,040
Debt
Debts falling due within Debts falling due after Total		1 year 1 year			(1,345,303) ~22,,698933..35544) ~4028 657) 3365.867	(1,702,303) 229,316 ~7472 987) ~4437 618)	(3,047,606) ~2,454,038) ~5,50),f!44) ~1071751)

DONATIO	NS AND LEGACIES
							2021	2020
							6	6
Donations							545 165	977657
INVESTMENT INCOME
							2021	2020
							6	6
Deposit account interest							88	327
INCOME	FROM CHARITABLE	ACTIVITIES
							2021	2020
		Activity
Festivals		International		Festivals			2,489,185	2,056,228
Tharpa Publications		Tharpa Publications					216,459	224,933
Manjushri	Centre Actiwties	Manjushri	Kadampa		Meditation	Centre	592,255	718,663
Shop and	World Peace
Cafe		Shop and	World Peace Cafe				318,849	193,566
Kadampa	Art Studio
Activities		Kadampa	Art	Studio	and internet		30,335	65,884
Properties	Income	Properties	Income				460,638	204,386
							4 107721	3463 660

							Grant	Grant
							funding	of
							activities		Support
						Direct	(see note		costs (see
						Costs	6)		note 7)		Totals
						6		6	6		6
Grants	Payable						77,545				77,545
International			Festivals			84,676			5,616		90,292
Tharpa	Publications					163,278			3,291		166,569
Manjushri		Kadampa		Meditation
Centre						741,041			11,269		752,310
Kadampa		Art Studio		and Internet		89,348			2,806		92,154
Properties			Expenditure			103,810			72,590		176,400
International			Kadampa		Development	454 947			633,500	1	088 447
						1 637 100	77.545		729 1172	2 443 717

GRANTS PAYA	BLE
					2021		2020
								6
Grants Payable					77	545	470	642
The total grants	paid	to institutions	during the year was as follows:
					2021		2020
						6		6
Gifts to Centres					77	545	470	642
Gifts to Centres	include the following			donations.
					2021f		2020 6
Grants for Kadampa		Art Studio - 2021:3(2020:7)			30,940		49,189
Gifts to Centres	- 2021 10(2020: 12)				46,605		421,453
					77	545	470	642

SUPPORT C	OSTS
								Governance
					Management f		Financef	costsf	Totalsf
International	Festivals					4,298		1,318	5,616
Tharpa Publications						2,302	331	658	3,291
Manjushri Kadampa		Meditation		Centre		6,937	2,206	2,126	11,269
Kadampa Art	Studio	and Internet				2,148		658	2,806
Properties Expenditure International Kadampa			Development		~6040)			72,590 639,540	72,590 633500
						9,645	2,537	716,890	729,072
Activity				Basis ofallocation
Management				NKT	administrative	employees
Finance				NKT	administrative	employees
Governance	costs			NKT	administrative	employees

			2021f	2020f
Depreciation -owned assets			97,249	97,626
Surplus on disposal offixed	assets		(35,263)	(1,636,485)
Exchange (gains)/losses Provision for unrecoverable	loans		630,584 214231	(356,388) ~71 7661
AUDITORS' REMUNERATION
			2021	2020f
Fees payable to the charity's	auditors	for the audit ofthe charity's
financial statements			~10 650	10500
Audit-related assurance services			3066	3815
Total fees payable			13716	14315

STAFF COSTS
									2021		2020
									6		6
Wages and salaries									210,688		268,454
Other pension costs									29,028		20,096
									239716		288 550
In addition to the above staff		costs, included		within		Freehold	Property	additions	are further	staff	costs totallin
653,968 (2020: anil)	for the cost of Kadampa			Art Studio labour			in making	statues	that form part	of the fabric oft
building ofthe new Temple for		World Peace	in Malaga, Spain.
The average monthly	number	of employees	during		the year was as follows
									2021		2020
Manjushri Centre									9		9
Tharpa Publications									5		5
Kadampa Art Studio	and Hosting								16		17
Support and Administration									7		7
Kadampa Hotels											1
									37		39

			Unrestricted	Restricted	Total
			funds	funds	funds
			E	6	6
INCOME AND ENDOWMENTS		FROM
Donations and legacies			594,266	383,391	977,657
Charitable activities
International Festivals			2,056,228		2,056,228
Tharpa Publications			224,933		224,933
Manjushri Kadampa Meditation		Centre	718,663		718,663
Shop and World Peace	Cafe		193,566		193,566
Kadampa Art Studio and Internet			65,884		65,884
Properties Income			204,386		204,386
Investment income			327		327
Total			4,058,253	383,391	4,441,644
EXPENDITURE ON
Charitable activities
Grants Payable			67,563	403,079	470,642
International Festivals			102,684		102,684
Tharpa Publications			163,040		163,040
Manjushri Kadampa Meditation		Centre	775,342		775,342
Kadampa Art Studio and Internet			220,206		220,206
Properties Expenditure International Kadampa Total	Development		394,517 ~7,756,898 ~33,546	403,079	394,517 ~7,756,8983 369,533
NET INCOME/(EXPENDITURE)			4,091,799	(19,688)	4,072,111
RECONCILIATION OF	FUNDS
Total funds brought forward			29,063,462	2,848,523	31,911,985
TOTAL FUNDS CARRIED FORWARD			33 155261	2 828 835	35984 096

TANGIBLE FIXED ASSETS
				Fixtures
		Freehold	Long	and	Motor
		property	leaseholdf	fittingsf	vehiclesf	Totalsf
COST
At 1 January 2021		18,307,242	2,628,859	292,736	17,251	21,246,088
Additions Disposals At 31 December 2021	4,786,125 ~145,020 22 948 347		2628859	24,479 317215	16,983 34 234	4,827,587 ~145,020 25 928 655	)
DEPRECIATION
At 1 January 2021 Charge for year Eliminated on disposal At 31 December 2021	385,213 64,327 ~8,826 440 714		68,412 22,804 91216	230,002 9,410 239 412	17,251 708 17 959	700,878 97,249 ~8,8261 789301
NET BOOK VALUE
At 31 December 2021		22507633	2537643	771103	16275	25139354
At 31 December 2020		17922 029	2 560 447	62 734		20 545 210
FIXEDASSET INVESTMENTS
						Shares In
						gl'o up
						undertakings f
MARKET VALUE
At 1 January 2021 and
31 December 2021						2 109
NET BOOK VALUE
At 31 December 2021						2 109
At 31 December 2020						2 109
The net book value of investments		comprises:
					2021	2020
Investments in the UK
Investments outside the UK					2 109 2 109

New Kadampa	Tradition	Tradition	KMC Spain S.L.	KMC Spain S.L.
Registered office: Registered				in Spain
Nature of business:		Rental	services
					6/
Class ofshare:					holding
Ordinary					100
						31/12/21	31/12/20
						6
Aggregate capital and reserves I oss for the year						(165,199) ~6631)	(167,844) ~12623)
The summary	results	for the		year were as follows:
						2021	2020
							F
Gross income Expenditure Deficit						~663)) ~)6631)	~)2623) ~)2623)
STOCKS
						2021	2020
						6	6
Goods for resale						395360	349854
DEBTORS
						2021	2020
						6	6
Amounts falling	due	within	one year.
Trade debtors						177,797	131,096
Other debtors						488,262
Concessionary	loans to Centres					12,420,012	10,168,038
VAT							5,240
Prepayments and accrued			income			9,496	7,922
						13095567	10312296
Amounts falling	due	after more than one year:
Concessionary	loans to Centres					918928	1 531 789
Aggregate amounts						14014495	11 844 085

		2021	2020
		f
Loans due within one year - 2021:30 (2020:25)		13,148,577	10,682,372
Loans due after more than one year	—2021:4 (2020:4)	918928 14061505	1,531,1119 12214161
CURRENT ASSET INVESTMENTS
		2021	2020
Cash held on deposit		157040	150926

	N	N	OTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021	OTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
18.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2021 E	2020f
	Bank loans and overdrafts		(see note 20)		231,885	227,382
	Other loans (see note	20)			2,815,721	1,117,921
	Trade creditors				191,240	67,795
	VAT				3,022
	Other creditors				16,052	11,645
	Accruals and deferred	income			75,900	43,589
					3333820	1 468 332
19.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
					2021	2020
					6	6
	Bank loans (see note	20)			2 454 038	2 683 354
20.	LOANS
	An analysis ofthe maturity		of	loans is given below:
					2021	2020
					E	E
	Amounts falling due within		one year on demand:
	Bankloans				231,885	227,382
	Concessionary loans				2 815721	1 117821
					3047 606	1 345 303
	Amounts falling between one			and two years:
	Bank loans 1-2years				1 025 441	236 372
	Amounts falling due between			two and five years:
	Bank loans 2-5 years				1 311183	2 158871
	Amounts falling due in	more than five years:
	Repayable by instalments:
	Bank loans more than	5years		by instalments	117,414	288,111

The concessionary	loans	from Centres
			2021	2020
			F	6
Other loans from	Centres	—2021:6(2020:2)	2,554,720	856,921

Loans	from	individuals	—2021:	4	(2020:	4)		261	000		261	000
							2	815	720	1	117	921

The following sec	ured debts	are included within creditors:
				2021	2020
				f	f
Bankloans				2 685 923	2 910736
Properties with a	combined	net book value off11,164,237 have	been pledged as	security against	secured debts
MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1/1/21f	In funds	fundsf	31/12/21
Unrestricted funds
General funds		26,495,261	2,193,808	(149,906)	28,539,163
Designated Funds		6,660,000		150,000	6,810,000
		33,155,261	2,193,808	94	35,349,163
Restricted funds
Spanish Temple Leeds Property Other Funds	Fund	568,198 2,250,000 10,637 2,828,835	5,944 660 8,845 15.449	~94 ~942	574,142 2,250,660 19,388 2,844,190
TOTALFUNDS		35 964 096	2 209 257		38 193353

Net movement in	fu	nds, includ	ed in the above	are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
					6	6	6
Unrestricted funds
General funds					4,619,759	(2,425,951)	2,193,808
Restricted funds
Spanish Temple	Fund				5,944		5,944
Leeds Property Other Funds TOTAL FUNDS					660 26.611 33215 4 652.974	~)7,766) ~77,766) ~2443 717)	660 8,845 15449 2 209 257
Comparatives for		movement	in funds
					Net	Transfers
					movement	between	At
				At 1/1/20	in funds	funds	31/12/20
					6	E
Unrestricted funds
General funds				22,763,462	4,091,799	(360,000)	26,495,261
Designated Funds				6,300,000		360,000	6,660,000
				29,063,462	4,091,799		33,155,261
Restricted funds
Spanish Temple	Fund			464,286	103,912		568,198
KMC Cuemavaca,		Mexico		124,785	(124,785)
I eeds Property Other Funds				2,250,000 9452 2 841)523	1185 ~19.688)		2,250,000 10637 2,828,835
TOTAL FUNDS				31,911,985	4,072 111		35 984 096

Comparative net	movement	in funds, included in th	e above are		as fol	lows:
						Incoming	Resources	Movement
						resources f	expendedf	in funds f
Unrestricted funds
General funds					4,058,253		33,546	4,091,799
Restricted funds
Spanish Temple KMC Cuemavaca, Other Funds TOTAL FUNDS	Fund Mexico				103,912 272,790 (397,575) 6.689 ~5,504) 383391 ~403,029) 4 441.644 ~369533)			103,912 (124,785) 1,185 ~)9,688) 4 012 111
A current year 12 months		and prior year 12 months	combined	position		is as follows:
						Net	Transfers
						movement	between	At
			At 1/1/20f			in fundsf	fundsf	31/12/21 f.
Unrestricted funds
General funds			22,763,462		6,285,607		(509,906)	28,539,163
Designated Funds			6 300000				510000	6 810000
			29,063,462			6,285,607	94	35,349,163
Restricted funds
Spanish Temple	Fund		464,286			109,856		574,142
KMC Cuemavaca, Leeds Property Other Funds TOTAL FUNDS	Mexico		124,785 2,250,000 9,452 2,848,523 31 911985		(124,785) 660 10,030 ~94 ~4,239)~94) 6 281 368			2,250,660 19,388 2 844,190 38 193353

A current year 12 as follows:	months and prior year 12 mo	nths combined net movement in	funds, included	in the above ar
		Incoming	Resources	Movement
		resources f	expended f	in funds f
Unrestricted funds
General funds		8,678,012	(2,392,405)	6,285,607
Restricted funds
Spanish Temple	Fund	109,856		109,856
KMC Cuemavaca,	Mexico	272,790	(397,575)	(124,785)
Leeds Property Other Funds TOTAL FUNDS		660 33.300 416,606 9094,618	~23,270) ~420,845) ~28)3250)	660 10,030 ~4,239) 6 281 368

								2021	2020
									E
Financial assets that are debt				instruments	measured		at amortised
cost
Trade debtors								177,797	131,096
Concessionary	loans	to centres		(after provision		for potential
unrecoverable	debts)							11,986,047	11,699,827
Cash held on	deposit							157040	150925
								12 320 884	11 981 849
Financial liabilities		measured		at amortised		cost
Bank loans								(2,685,923)	(2,910,736)
Other loans —Concessionary			loans					(2,815,721)	(1,117,921)

The future minimum lease payments receivable under no	n-cancellable operating leases are as f	ollows:
	2021f	2020
Within one year		105,505
Between one and five years		105,505
		211 010