##
##
|||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..**3**5544)
~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|is comprised|of:|||
|---|---|---|---|---|---|---|
||||||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|