COMPANY NUMBER: 02828912 (England and Wales) Reglstered Charlty Number: 1025003 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR KADAMPA MEDITATION CENTRE BIRMINGHAM IA company Ilmlted by Guarantee) AE6WRBGA 1610712025 COMPANIES HOUSE A11
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Paga Report of Ihe Tru8tees Report of Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Number 02828912 (England and Wales) Registered Charity Number 1025003 Registered Office 44 Blucher Street Birmingham 811QJ Independent Examiner: Alistair Jenkins FCA Tru8tee8: Amanda R Day {appointed 27 Sèpt 2023) Nicolas S Hero (appointed 22 July 2023) Perwinder Kaur (appointed 21 July 2023) Hannah C Flint (appointed 7 Jan 2022) The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report logether with the financial statements of Kadampa Meditalion Centre Binningham (the company) for the year ended 31 December 2024. The financlal slatements comply with the Charlties Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). In preparing this report the trustees have taken advantage of the small company exemption8 provided by section 415A of the Companies Act 2006. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitution The company 18 registered as a charitable company limited by guarantee and is a registered charity number 1025003. The principal object of the company is to promote and follow the pure tradition of Mahayana Buddhist derived from the Buddhist Meditators and scholars Atisha and Je Tsongkhapa, as introduced into the West by Buddhist teacher Venerable Geshe Kelsang Gyatso, and to always remain a member of the Buddhist Union (NKT-IKBU) and always follow and act in accordance with th6 internal rules of the NKT-IKBU Page 1
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Governing document This is the Memorandum and Articles of Assoclation dated 1 June 1993, as amended by resolution dated 29 March 2007 and by special resolution dated 17 November 2020. Review. achievement and public benefit statement Throughout 2024 Kadampa Meditation Centre BinTringham provided meditation classes and in depth study programme8 to the people of the local area. After moving into new premises at 44 Blucher Street, Binningham B1 1QJ in the latter part of 2022, we have seen a steady development of the centre and a corresponding increase in course attendance through 2023 and 2024. Our Foundation Programme classes have continued to flourish and the practltloners on these cour8e8 conlinued to deepen their understanding and practice of Kadampa Buddhism. The centre is developing new teachers of Kadampa Buddhism who are enabling the centre to serve more people as time progresses. From 2023 to 2024 we have increased our number of branch class locations, which now include Sutton Coldfield, Solihull, Stirchley and Wolverhampton, reaching even broader into Birmlngham and It'8 surrounding area. Our Centre classes also starting to grow regular groups of attendees, and our Foundation Programme group is gradually growing in size. We have continued to provide the livestreaming of classes to members throughout 2024, making the cl888es even more accessible and this remains an appealing aspect of membership. Moving into 2025 the classes attendances are continuing to increase at the City Centre as well as at our branch venues in Solihull, Sutton Coldfield, Wolverhampton and Stirchley. We are also seeing continual requests for school visits and workplace visits. This demonstrates a great need and intere8t in meditation in the Birmingham area and we are delighted to gradually be reaching wider into the community. During 2024, numerous very kind volunteers assisted our Resident Teacher Gen Kelsang Leksang with the education programme and our Admin Director Kelsang Lhasang was assisted by several volunteers with the Administration of the centre. Mid 2024 w8 said goodbye lo our Admin Director Kelsang Lhasang; the role was taken on temporarily by Janet Richardson and we have now appointed a new Admin Director, Betsy Hero. We currently have a dedicated base of volunteers which we intend to grow further. Through this strong team assisting With many aspects of the centre, we look forward to KMC Bimiingham continuing to flourish throughout 2025. y order of the Board Perwlnder Kaur 1st April 2026 Page 2
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 3191 DECEMBER 2024 I report on the accounts of Kadampa Meditation Centre Birmingham, for the year ended 2024, as per pages Respective respon8ibillti88 of the Trustees and the Independent Examlner As Trustees you are responsible for the préparalion of the financial statements; you consider that an audit is not required under Section 144<2) of the Charities Act 2011 (the 2011 Act) and thal an independent examination 18 needed. It is my responsibilty to: a) Examine the accounts under section 145 of the 2011 Act, b) Follow the procedures laid down in the General Directions given by the Charity Commissioners under Section 145{5)b of the 2011 Act; and c) State whether particular matters havo come to my attention Basls of thls r•port My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as truslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair Vie and the report is limited to those matters set out in the statement below. Independent examlneVs statement In connection with my examination, no matters have come to my attention to indicate that.. - accounting records have not been kept in accordance with section 386 of the Companies Act 2006 - the accounts do not accord with such records.. where accruals basis is used, whelher they fail to comply with relevant accounting requiremen18 under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS 102) Signed Date 14 1 07 12025 All8tslr Jenkins - Independent Examiner 14 Shiel8 Drive, BRISTOL, BS32 8EA. Page 3
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 G&wal Restrithl Tclal lund fund 3 Aca)mmcKlation Education Strnp and café 7,118 7,118 &7C QT Totsl IrKo 1311SI 1S11 1(2 RaJrJ fvnds Charitable actsvities 11a 11 111Tr1 118410 sUlUsI (deficlt) 11910 11910 OnIng Balan (1n2r2024) C1031rvJ Balan (3V12r2024) Zq717 13n 21&1 21WI 1Jn The notes form part of the financial statements Page 4
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) BALANCE SHEET AS AT 31 DECEMBER 2024 Tangibl8 tsed assets 114 Debtors Cash al bank and in hand Total cuThenl assets Creditors: amounts falhrvJ due wilhin one year .10943 -12841 14TZJ 17hg) Total assets less current liabililies r4514 10 713,¢ 10 Creditors: amunts falhryJ due after rrDre than one year Unrestricted general luTrJ RestrKled fund 219, 717 The charttable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the charitable company to obtain an audit of its financial statements lor the year ended 31 December 2024 in accordance wlth Section 476 of the Companles Act 2006 The dlrectors (who are trustees) acknowledge thelr responsibility for complySng with the requirements of the Companies Act with respect to accounb'ng records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subjecl to the small companies, regime and in accordance with FRS102 SORP. These financial statements were approved by the Board of Trustees and were signed on its behalf by: Signed: Date: . Hero 12107125 Nick Hero - Trustee The notes fonn part of these financial statements Page 5
KADAMPA MEDITATION CENTRE BIRMINGHAM (Reg No: 02828912) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basls of pr•parfng the financial statements These accounts have been prepared under the historical cost convention with items recognised at cosl or transaction value unless stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charitie8 Act 2011. Incomlng Rosources All incoming resources are included on the Statement of Financial Activities when the charity 18 18gally entitled to the income and the amount can be quantified with reasonable accuracy. Gift Aid receivable Is induded in income when there is valid declaration from the donor. Any Gift Aid amount recovered on a donation 18 considered to be part of that gift and 18 treated as an addition to the same fund as the initial donation. Tanglble Flxed A88ets Depreciation is provided at the following annual rate8 in order to wrlle off each asset over its estimated useful life: Fixtures & Fittings Office Equipment 25% on reducing balance 250A straight line 'Stock8 Stocks are valued at the lower of cost and net reali8able value, after making due allowance for obsolete and Slow moving item8. Taxatlon The charity is exempt from tax on its charitable activities. Fund Accountlng Unrestricted funds can be used in accordance with the charitable objectlves al the discretion of the Twstees. Restricted funds can only be used for particular restricted purposes within the objects of the charrty. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpose8. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. TRUSTEES. REMUNERATION AND BENEFITS Thère were no Trustees, remuneration or other benefits (including trustee expenses) during the year. Page 6
KADAMPA MEDITATION CENTRE BIRMINGHAM {Reg No: 02828912) NOTES TO FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 BaJarKX brought forward at 1 January 24 Addilions Disposals Balan led fornvard at31 Dernl2O24 21,4e6 w rn,&13 2104 Depreclallon Balan brouw foThvard al1 January 21Y24 Charge for the year 14, -14,(F 14W 4240 31519 1t6 -11574 Balan canied ft)NRrd al 31 De(xmbw 2024 1W 4 7mO 7242 O IB7¥2 14 ,114 Nei tKx)k value at 31 0mIr 21B3 2024 2023 4. STOCK St¢xk for resa 2,282 4,287 6. OEBTORS Other debtors 2,881 6. CREDITORS: AMOUNTS DUE THIN ONE YEAR Other Creditors Bank Mortgage 350 1,998 10 943 7. CREDITORS: AMOUNTS DUE AFTER MORE THAN ONE YEAR Other Loans Bank Mortgage 130,000 37 130,000 375 510 The bank loan is secured by a legal charge dated 23 August 2022 over the freehold propety to which the loan relates. & FXIS Balan at INJ)rr* ExdIlure Balance al 1&n24 31 tkn24 z4n7 131133- 111723 219 Insght Trust 13413J Page 7