COMPANY REGISTRATION NUMBER: 02745086 CHARITY REGISTRATION NUMBER.. 1026683 Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Unaudited Financial Statements 31 December 2022 lllllllllUII "ACBMXWM• *42 ¢CPANIEs HOUSE STONE & CO Chartered Accountants 2 Charnwood House Marsh Road Ashton Bristol BS3 2NA
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Financial Statements Year ended 31 December 2022 Page Trustees. annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not forn) part of the financial ststements Detailed statement of financial activities 17 Notes to the detailed statement of fjnancial activities 18
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarante8 Trustees, Annual Report Ilneorporatlng the Dlrectorfs Report) Year ended 31 Decernber 2022 The trustees. who are also the directors lor the purposes of company W, present their report and the unaudrted financ1 statements of company for the year ended 31 December 2022. Reference and admlnlstratlve detsils Reglstered charity name Amiti*)ha Kadampa MedrtaIn cere IKMC) Ltd Charity iegistration numb•r 1026683 Company reglslratlon number 02745086 Principal office and registered Vrarage offi¢9 Gloucester Ro•J Bishopston Bristol BS7 8NX Tho trustws {SeTr from 17 May 29 to 8 March 2010) (Served from 17 May 2fKJ9 to 9 June 20091 (Served from 9 June 2009 10 25 March 2010) (Served from 25 March 2010 to 17 December 20201 (Served from 16 October 2010 to 12 September 20111 (Served from 12 April 2011 to 17 December 2020} (Served from 12 September 2011 to 2 June 20191 (Appointed 17 December 20201 (Appointed 17 December 20201 {Appoinled 17 December 20201 Ms M Webber Mr D Tcwier-Jones Ms K Edwards Mrs R Maybury Mr D T(ywner0S Mr D Maybury Mr A Davis Mr J Rodway Ms N Franco Ms J ArKlrews Company secretary Kitsten Van Ntspen Independent examlner Richard Andrew Stone 2 ChamwLX)d House Marsh Roaj Ashton Bnstol BS3 2NA
Amitabha Kadampa Meditation Centre {KMC) Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the DirectoV$ Report) fc0ftl1ni Year ended 31 December 2022 Structure. go¥&mance and management The Amitknha Buddhist Centre a c¢mpany limrted ty guarantee. wvemed by rts Memorandum and Articles ol Association and was Incorpoed on 28 August 1992. The company registered wilh the Charty Commission on 30 Seplembef 1993. RISK MANAGEMENT The trustees have a duty to hlentfy and review the risks lo whth the charty is exposed and to ensure appropriate controls are in place to provKle reasonable assuran against fraud and error. The board of Directors, who are Tfuslees for the puw ofcharty law. who served during the year and up to the dale of this port are sel out on page 1. Objectives and activitse¥ The principle adNty ofthe charity is the promtion and lexhing of the Buddhist faith. Achievements and perforniance Durin9 the 2022 financol year. we continued our ongoing spiritual and edalical activities. We have held in-person classe$ which have been very popular. At the beginning of the year. we also streamed the classes online. This was disconbnued after the summer lo encourage people to attend the Cenlre in person. Our 4wweekty courses on partrcular subject aaS have proved popular and we have seen an increase in cks5 numbers, meMbehIP numbers and FPlP attendees. We are GUentlY running branch classes Clevedon. Chepstow, Chipping Scwjbury. Chppenham, and Weston4uper-Mare. We continue in our efforts to train T115 and 51rerWhen interest in the Centro and its stLKIy prc¥Jrammes. Financial revi•w The cafe has been successful thi5 year in promoting our da5ses and courses and adding a vital social element lo the cent and the café has bgen going from str8ngth to strength. We have been contwiuing to pay off our bs. Pl•ns for future poriods Our intention ts locontinue lolrain more tsxhers, aTrJ toestablish more classes, branches and Centres, thereby making the slu<ty programmes &SIble to mtye peopk. We are abo w01ng hard on makwkg the Centre more visible from the road and more invrting for newcomors.
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Directorfs Report) (¢oMiirtuedJ Year ended 31 December 2022 Small company provislons ThL% report has been prepared wi accordance wrth the proviswjns appIable to mpanS entrtled lo the small companies exemplbjn. The trustees. annual report was approved 214/5.. and Suned on behalf of the board of trustees by.. J Rodway Company Oyeclor
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Amitabha Kadampa Meditation Centre (KMCI Ltd Year ended 31 December 2022 I report to the trustees on my exwninion of the financial statements of Amitabha Kadampa Medftation Centre IKMCI Ltd {Ihe company'l fot the year ended 31 December 2022. Responsibilitie5 and basis of report As the trustees of the company (and also r($ directors for the purposes of eompany Iwl you are responsible for the preparatn of the financial slalements in accordance with the requirements of the Companies Act 2006 Ilho 201 ky). Having satisfied rysew that the accounts of the company are not required to be audited under Part 16 of the 2006 Ad and are eligible for independent examinalKJn. I report in respecl of my examinalKJn of the company's accounts a5 carrd out under seci)n 145 of the Charits Act 2011 ('the 2011 Acri. In carrying Out my examinatn I have folthv&J the Dwect•)ns 9Trn by the Charity Commission under section 145151{b) of the 2011 Act. Independent •xaminerf$ $tatem•nt I have completed my exaMinatn. I confimi th no matters have come lo my attention in connectRin with the examination gmng me CaLe lo believe." acLounkn"ng records were not kepl in respect of the company as required by sedion 386 ofthe 2006 Act. or the financial 51atements do not &cord wr¢h those records.. or the finarKial sL*ements do not cOty with the accounting requirements of section 396 ofthe 2006 Act other than ary requirement that Ihe accounts gNe a and fairf vw which is not a matter considered as part of an Independent examInatn." or Ihe financhql slalemenls have not been prepared in accordance with the methods and prinCipS of the Slalernent of RecommerKled Practice for lunting and reporting by charities appluble to charrtS preparing their accounts in accordance vlrth the Financial Reporting StarKlard applicable in the UK and Republic of Ireland IFRS 1021. I have no eorKems and have come across no other matters in connection with the examination to which altenlion should be drawn in thES report in order to enable a propef understanding of Ihe accounts lo bo reached. Richard Andrew Stone Independent Examiner 2 Chamwood House Marsh Road Ashton Bristol BS3 2NA
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantse Statement of Financial Activities (including income and expenditure account} Year ended 31 December 2022 2022 Unrestrthd fvnds Totsl funds Tolal funds 2021 In¢offle and endowments Donations and legxies Charitable tIvItS Other trading 8clivities Investment income 3,542 26.856 65.673 70 3,542 26,856 66,673 70 1,427 22,047 53,676 Total income 96,141 96,141 77,153 Expenditufe Expenditure on raising funds.. Costs of raising donalions and acies Expendiiure on charitable actwrttes Total expendlture 12.168 65.115 12,168 65.115 12,379 58.276 10,11 77.283 77.283 70,655 Net income and net movement Sn funts 18,858 18,858 6,498 Reconciliation of funds Tol81 funds broughl foward Totsl funds urrlgd forward S32,120 532.120 550,978 525,622 550.978 532,120 The statement of financial a¢lNits inclwjes all pns and losses recognised in the year. All income and expendrture derive from continuing &twrties. Th• nots• on pag•s 8 10 1S forni part ofth•x financiab ts*ments.
Amitabha Kadampa Meditstion Centre (KMC) Ltd Company Limited by Guarantee Ststsment of Financial Position (Conimed) 31 Decernber 2022 2022 2021 Fixed assets Tangible fixed assets 16 631,772 642,142 Cuortt assets Stocks Cash al bank and in haNJ 17 991 38.699 1,480 31,452 39.690 32,932 Creditors.. amounts falling due withln ¢Me year Net current assets 18 27.967 27.800 11.723 5,132 Tolal assets lets current liabilltles 643.495 647,274 Credltors: amounts falling due after more than one year 19 92.517 115.154 550.978 532,120 Funds of the charity Unres1rtt fvnds 650.978 532,120 532.120 Totsl charity funds 550,978 For the yearending 31 Oecents 2022 the C¢rynywas enlitbed to eXernptn from audit under section 477 01 the Companies Act 2006 relating lo small companies. Thè nots* on p•998 8 to 15 lomi part ol thts• financlal •tatem•nty.
Amitabha Kadampa Meditatlon Centre (KMC) Ltd Company Limited by Guarantee Statement of Financial Position (ronimuqrfj 31 December 2022 Oirectors. responsibilities-. The members have not required the company lo obtain an alIt of its fmancial statements for the year in quest in aceordance wrth SeCtn 476,. The dire¢lors acknowkdge Iheir responsibilrt*s for comptying wrth the iequiremenls ofthe Act with respect to accounting records and the preparats.on of financial stalemenls. These financial slalernenls have been prepared in accordan wth the Provisions applubte to companies subject to the small companEs' regime. These financial slalements ¥• approved by the bowd oftntstees and authorised lor issue on . Ip.x, and are signed on beha of the board by. J Ro(fvrny Director Th• not•$ on p¥9 8 to 1S lomi partof financlal $t•ternenl¥.
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022 General infomtIon The company ts a public beneft ent'ty and a prive company limited by guarantee. regtstered tn England and Wales and a registered charity in England and Wales. The address of the registered office is Obj VThrage. Gbucester Ro•J. Bish¢)PSton, Bristol, BS7 8NX. Statement of compliance These financial slalements have been prepared in CLynpliance wrth FRS 102. 'The Financial Reporting Standard applicab in the UK and the Republic of Ireland.. the Stslement of Recommended Practti applicable lo Charit pparIng Ihetr accounts in aOrdanCe wi(h the Financial Reporting Standard appIable in the UK and Republ of Ireland IFRS 1021 (Charrties SORP IFRS 10211 al the Companies Act 2. Accounting policies Basis ol preparation The financial statements have been prepared on the historical Cost basis. as modffieo by the revaluation of certain financial assets and liabilities and investment propert$ measured al fair vahje through income or experKlrture. The financial ststements are prepwed in $terlin9. whh the furttional currency of the entty. Going ¢onurn There are no material uncertaintss abcwjt the ¢trAS abihty to Continue. Judgements and key sourus ol ¢stlmation unurtalnty The prep¥r8tion of the financial stements requires management to make judgemenls, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on expeiience and other fxtors. in¢luding expect81n5 of futu events that are believed to be reasonable under the circumstances. Fund a¢Uting Unrestricted lunds are available for use al the disCretn of Ihe trustees to further any of the charty's purposes. Designated funds e unrestrtcted fvnds earmed by the trustees for partKuLgr future project or commrtmenl. Reslricled ILsnds are subjected to restrKlions on their expenditure declared by the donor of through the terrns ofan appeal, and f1 into one of subthses.. restricted income funds or endowment furKIs.
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financial Statements fcoTrtkn Year ended 31 DKember 2022 Accounilng policies (coniinuedl Incoming resourc•s All incoming resources are included in the statement of financial &tNblies when entitlement has passed lo the Charty.. rt probable Ihal the ewn¢¥nK benefits 8350ci4led with the transaction will flow lo the charity and the amount can be relobty aSU. The followin9 specrfic policies are applied lo part( categOS of irAe. income from donations or grants is rewgnBed when there i8 ev¥Jere ol entitment to the grfl. receipt is probable and its amount can be measured reliabty. gacy income is recognised when recept is probable and entrfement is established. income from doned goods is asured at the "1 value of the goods unlgss this is impractical to measufe reliabty. in which Case the value is derived from the cost to the donor or the estimated resa value. Donated f&ilities and services are recognised in the accounts when receNed rf the value can be liOts masured. No amounts are included for the contribution of general voluntee15. income from contracts for the suppty of services is recognised with Ihe deh'very of the contracted serVe. This ra Classrfd as unrestrth funds unless there is a Contractual requirement for rt to be spent on a particukr purpose and retumed rf unspent. in whh case li may be regarded as festricled. Resources oxpended Expenditure 1$ re¢ognrsed on an aTual$ basis as a liabilrty 1$ incurred. Expenditure includes any VAT whh cannot be fulty recovered, and is clasSifd under headings of the statement offinancial adNrti8S to whh it relates.. expenditure on raising funds includes the costs of all fvrKlratsing xtiVS. events, non- chaftsble trading xtivrties. and Ihe sale of donated go(th. expenditure on charitable ath'v((ies includes all costs incurred by a charity in undertaking 8Ctivites that fvrther rts Charitab aims for the benefit of its beneficiaries. iicludin9 those .support costs and costs rdating lo the govemance of the charrty apportioned lo charitable activit$. other expendrture includes all expendrture that 15 neither reL8led to raising funds for the chanty nor part of ils expendrture on charrtable actNilies. All costs are all¢xaled to expenditure Categor refieclin9 the use of the resource. Direct costs attributable lo a single aclivty are allccated directly to that aclNrty. Shared costs are apportioned been the &tNities they contnbute lo on a asOnable. jUstrfb1e and wnsistenl bas1S. Tangible assets All fixed assets are inrtialty recorded at cosL
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financial Statsments l¢onUou•dJ Year ended 31 December 2022 Accountlng policles 1£tythdJ DeprlatIOn Depreciation ts eakubted so as to write off the cost OT ¥alualx)n of an asset, less rts residual value, over the useful economic lrfe of that asset as follows." Freehokl propety . 1% 51raNJht h'ne Impaimient of fix assets A review for indicators of impaimient ts carried oul at each reporting date. with the recoverable amount being esbmaled where such indieators exist. lthere the carrying value exceeds the recoverab amount, the asset is impaired accordingty. PTr)r impainnents are also reviewed for possib reversal at each repo.n9 dale. For the purposes of iwirfftht testing. when it is possible to estimate the fecoverable OUnt of an ind¢¥U81 asset. an estimate is made of the recoverable amount of the cash-generating unil to which the asset beh)ngs. The cash-generating unrt is Ihe smal1 hlentrfiable group of asset$ that includes the asset and generates cash inlkn¥s that largely independent of the cash inflows frcrfn other assets or groups of assets. For impairment testing of gocthill, the goo(.11 acquired in a business combination is. from the acquisition dale. allocated to each of the eash-generating unrts that are expected to benefit from the synergies of the Mbin)n. irrespectNe of whether other assets or liabilrties of the company a asswJned to those uniis. Stocks stks are measured at the bywer of cost and estimated selling price less costs to complete and sell. Cost indudes all costs of purchase. costs of conversion and other costs incurred in bringing the stock lo its present kxatH)n and corKlitk)n. Financial instruments A fmancial asset or a fin¢1 lthilty is recognised onty when the company becorres a paty to the contractual prowsions of the inStrUnI. Basic financk41 instruments are Initlty renised * the nount re¢eNable or payab including any related Iransaction costs. Current assets and current li8bil(ties are subsequently rrured * Ihe cash or other cc)sider8lion expected lo be paKI or recewed and nol discounted. Debt instruments are subsequenty measured at amortised )$1. ere investments in shares are publty Ird or their fair value can olherwi8e be measured reliably. the investment is subsequentty measured at fair value with changes in fair value recognised in income and expenditure. All other SLKh investments are ssequentty measured at cost less impairment. 10
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financial Statements (conthtsedj Year ended 31 December 2022 Accountlng policies (corthJuedJ Financial instruments (¢Ottlln Other financHI instruments. induding derivatives. are inrtialty rect)Jnised at fair value. unless payment for an asset 15 deferred beyond normal business lenns or financed at a rate of interest that is not a market rate. in which case the asset is measured al the present value of the futuie payments discounted al a mathel rate of interest for a similar debt inslrumenl. Other financ1 instruments are subsequenty measured at fair value. wth any changes recognised in the slalement of financial xtNities. with the exceptw of Ilging instruments in a design8t8d hedging relationship. Financial assets that a measured al cctst or am0Sed cost are rewewed for obiectNe evidence of impaimient at the end of each portIng date. If there is objectNe ewdence of irnpaimenl. an impaimient loss is recognssed underthe approprie headiry in the statefft of financh?l activities in whh the inrtial gain was re¢ognised. For all equity instruments reg¥dkn ofsvJnif¢ance. and Cerna1 assets that are indivVallY $ignifKant. these are as$e$sed individually for impairrnent. Other financial assets are erther assessed indivtdually or grouped ¢)n the l)asis of similar credit iisk Characterist$. Any revefsals of impaimienl we wognised immediely. to the extent that the reversal does not resutt in a carrying amount of the ffinancial asset thal exceeds what the carrying amount woukl have been had the impaimwt not prevwsty been recognised. Limited by guarantee The company limited by guarantee and has no share caprtal. In the event of the winding up or dissolution of the company. the members awe liable to contribute an amount not exceeding £1 towafds the debts and Ikqbililies ol the company. Donations and10gacies Unrestrided Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Donatlong Donalions and grants received 3.542 1.427 1,427 Chafltable activities Unrestricted Total Funds unles1red Total Funds Funds 2022 Funds 2021 EdUcatn and courses 26.856 26.856 22,047 22,047 11
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Lbmlted by Guarantee Notes to the Financial Statements Year ended 31 December 2022 other trading aclivlties Unrestricted Total Funds UnrestrKted Total Funds Funds 2022 Funds 2021 Cafe, shop and rental 65.673 65,673 53,676 53.676 InvlMent Incom• UnreslrKted Total Funds Unreslrthd Total Funds Funds 2022 Funds 2021 Bank interest recervab 70 70 Costs of raising donations and legacieg Unreslricled Total Funds Unreslnc Total Funds Funds 2022 Funds 2021 Costs of raising donations arKI gacies- Sponsorship 12,168 12.168 12.379 12.379 10. Expenditur• on charitable activities by fund type Unrestrcted Tolal Funds unreStrted Total Funds Funds 2022 Funds 2021 PromolKJn and lexhing ofthe 8uddhist faith Suppgrt costs 60.748 4.367 60,748 4,367 65,11S 55,718 2.558 55,718 2.558 65.115 58.276 58,276 11. Expènditure on charitable actlvltles by •cllvty type Aclivit undertaken Support Totsl funds costs 2022 Totsl fvnd 2021 Promotion and leaching of the Buddhist farth Govemance $t¥ 60.748 60.748 4.367 65,115 S5,716 2,558 58.276 4,367 4,367 60.748 12. Not income Net income is slated after Charg1{¢1edrting1. 2022 2021 Depreciation of tsngible fNed asset5 10.370 10,370 12
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantse Notes to the Financial Statements ironlwiwdj Year ended 31 December 2022 13. Independent examiTration fees 2022 2021 Fees payable to the iThJependent examiner f. Independenl examination of Ihe fmancial slalements 1.200 600 14. Stsff costs and •molum•nts The 10181 staff costs and employee benefits for the reporting per are analysed as follows.. 2022 2021 Wages and salar 12.168 12,379 The average head count of employees during the year was 212021.. 2). The average number of fulklime eqVNanI employees during the year is anatysed a$ folknvs.. 2022 2tr21 Number of staff - type 1 No employee retsNed emptyee benefrts of than £60.CIJO during the year12021.. Nill. Is. Trustee rernunerallon and expenses No remuneration or other benefts from emph)yment wjth the charrty or a related entty were eNed by the trustees. 16. Tangibk fixed •ssets Land and buildings C05t At 1 January X122 and 31 Oec8mber 2022 DePrlatiOn At 1 January 2022 Charge for the y At 31 De¢emb•r 2022 797.fj92 165.550 10.370 165.920 Carrying amounl At 31 December 2022 631.772 At 31 December 2021 642.142 17. Stocks 2022 2021 ' Raw materiaL8 991 1,480 13
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financlal Ststements Year ended 31 December 2022 18. Crediloys: amounts falllng wilhln one year 2022 2021 Bank loans and overdrafts Ac¢rLtals and deferred income Social security and other taxes Other credrtors 24.799 1.200 24,800 600 1,900 27,967 2.400 27,800 19. Creditorn: amounts falling due after more than one year 2022 2021 Bank loans and overdrafts Other crethtors 81,404 11,113 104,041 11.113 92.517 115.154 20. Anatysis of charitable funds Unr•$tri¢ted funds At 1 Jan 2022 At Irwme Expendrture 31 Dec 2022 General funds 532,120 96.141 (77,2831 5SO,978 At 1 Jan 2021 Al Irm Expendrture 31 Dec 2021 General fund5 525.622 n,153 170,6SS1 532,120 14
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Financial Statements i¢onl*Jwd) Year ended 31 December 2022 21. Analysis of n•t assets bgtwwn funds Unrestricted Total Funds Funds 2022 Tangible fixed assets Current Assets Creditors less than 1 year Creditors greater than 1 year Net assets 631,772 39,6 (27,967) 92.517) 550.978 631.772 39.690 {27.9671 192.5171 550.978 Unresthcted Total Funds Funds 2021 Tangible fixed assets Current Assets Creditors less than 1 y&ar Creditors greater than 1 year Net assets 642,142 32,932 125.4001 1117.5541 532,120 642,142 32.932 {25.400} (117.5541 532.120 15
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Management Information Year ended 31 December 2022 The followlng pages do not fomi part of the financlal statements. 16
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Llmited by Guarantee Detailed Statement of Financial Activltles Year ended 31 December 2022 2022 2021 Income and endowrnents Donations and legacies Donations and grants recewed 3.S42 1,427 Charitablo activities Education and courses 26.856 22.047 Olher tradlng activities Cafe, shop and rental income 65,673 53,676 Investment income Bank inleresl receivable 70 Total incomo 96.141 77,153 Expenditure Costs of raislng donations and legacles Wages and salaries 12.168 12,379 Expenditure on charitable adivitles Purchases Rent Other motornravel costs Legal and professional fees Other offe cost5 Depreciation Other interest payabk and Similar Ch85 10.676 14.608 3,764 1.200 21,330 10,370 3,167 6.856 10.022 2.816 600 25.654 10.370 1,958 65,115 S8.276 Totsl expendlture 77,283 70.655 Net income 18.858 6,498 17
Amitabha Kadampa Meditation Centre (KMC) Ltd Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 December 2022 2022 2021 Costs of raisin9 donations and legacies Costs of raising donation5 and lega¢les - Sponsorship Sponsofship- wages and saaries 12.168 12,379 Costs of raising donations and legxies 12,168 12,379 Expenditure on charitable activities Promotion and teaching of the Buddhist tslth Activities undertaken dirnctly Shop. cafe and temple purchases Rent and utilit$ Food and household Administration. educal*)n and publi¢ty DepreciatK>n 10.676 14.608 3.764 21,330 10.370 6,856 10.022 2,816 25,654 10.370 60.748 55.718 Governance costs Govemance costs- accountsnry fees Governance costs- olhw finance costs 600 1.958 3.167 4.367 2,558 E¥pendire on charitable adivilies 65.115 58,276 18