KADAMPA MEDITATION CENTRE NOTTINGHAM LIMITED A company limited by guarantee Annual Trustees Report and Financial Statements 31 St December 2024 Registered charity number 1028414 Registered company number 02841200 { England and Wales) KADAMPA MEDrrATION CENTrE NOTnNGHAM LIMITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Indox Page Report of the Trustees Independent examinerfs report Statement of Financial Activities Balance Sheet Notes to financial statements 10-12 21Page KADAMPA MEDITATION CENfRE NOThINGHAM LIMITED Accou￿rS FOR THE YEAR ENDED 31 DECEMBER 2024 LEGAL AND ADMINISTRATIVE INFORMATION Trustees M Cansdale. appointed 26 March 2024 M Eldi de Persis appointed 21 July 2025 J Miles C Rhodes appointed 21 Juty 2025 reslgned 21 July 2025 C Snowball-Hill resigned 21 July 2025 Charity number 1028414 Company number 02841200 Reglstered oflice Gedling House Wood Lane Nottingham Engfand NG4 4AD. Independent examlner Alistair Jenkins 14 Shiels Drive Bristol 8S32 8EA 31Page KADAMPA MEDITATION CENTRE NorriNGHAM UMrrED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the year ended 31 D￿rnber 2024. The financial statements have been prepar￿1 in accordance with the accounting poficies set OLrt in note 1 to the financial statements and comply with the charlty's goveming document, the Companies Act 2006 and °Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prepanng their accounts in accordance with the Financial Reporting Standard appficable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).. Objectives and actlvftles The charity operates to promote the. Buddhist Faith of the. New Kadampa Tradltion through th& activities of study, practice, teaching" and the observance of moral discipline based upon the continuous Implementation of the three Naw Kadampa Tradition Study Programmes. These traditions are all within the wre tradition of Mahayana Buddhism of Atisha and Je Tsongkhapa as taught by v￿erable Geshe Kelsan9 Gyatso. Achievements and perfornianee In 2024 great effort was made to convert the fomier ballroom into a beautiful medi￿10n room which was formalty opened on 8th September. The completion of this blessed space enabled more focus on Ihe splritual activities - classes , retreats and prayers during the ranind8r of 2024. The spiritual programme has been substantialty expanded in 2025 following a successfvl J￿Uary merfrtation challeng&where people could join all events for the equlvalent of one month's membwship. There has been a significant increase in membership as a result. and now the renovation Work is complete it has been possbi le to put more ￿¥gY into promoting the centre through sc¢i* merfia and (fistnbuting leafiets and posters resulting in new people attending events. We have started a new evening class in West Bridgford from September 2025. Thwe has also b￿n more ￿nphas1S on revlewing arnl controlling expenditu￿ fesufting in a positlve improvement In the financial sftuation of the centr8. Public Benefit In exercising their powers and duties, tha Trustees have due regard to the g(Idance ￿ publfc benefft published by the Chafity Commlssion. They believe that the work oy the'Buddhist Fafth has cTearfy identifiable public beneffts. The Charity believes that there are threé important public ￿er￿S to promoting the Buddhist Fatth: to help people develop their wisdom, to cuttivate a good heart and to maintain a peaceful mind. If as individuals we do not strive to develop our Wisdo￿ we will always remain ignorant of the true nattwe of reality. Everyone wisbes for happiness, but our ignornncK of reality leads us to engage in non-virtuous a¢tioD4 wbich in tirn are the rna￿ Cause of all ofour Sufferi￿TU[th¢r, if we do not cultivate a good"heart towards others, then our selfish motivation destro)s the harmony of our relationships with others. We then bave no peacq and no elwice to gain pure The CIwAtys ￿08[8￿ of cla8ses,' services and meditation is open to everyone. wh&ber Buddbist or noL R8ard]ess of nationality, age or gender. ¢laws are a¢cessibJe to the public and both 'dropin" and more advanced wut8¢8 of Buddhist instruction ate offéred. Some are offered free of ¢bar84 wblst m(Klest'fres are cTh'4rgedTor othets. 41Page KADAMPA MEDITATION CENTrE NOTllNGHAM UMITED ' ACcOU￿s FOR THE YEAR ENDED 31 DECEMBER 2024 Flnancial review The accounts show are,. responsible for preparlng a trustees. annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable Company and of the incomlng. resource_s and_applicatio.n o.f reso.urGes, Including..the..Income. and_.expenditura..-of the_ tharity for that period. In preparing the finandal statements. the truste8s are. required'to: • select suitable accounting policies and then apply them consistenlly.. observe the methods and principles in the Charities SORP (and related regulations),. • make judgments and estimates that are reasonable and prudent. • stste whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. • prepare the financial statements on the going concern basis unless it is Inapproprlats to presume that the charity will continue in business. The trustees are. responsible for keeping proper accounting records: that disclose withi reasonable accuracy at any time the financial position of the charty and to enable them to ensure that the financial Statements comply with the Companies Act 2006. They are also reSPon￿bIe for safeguarding the assets of the charity and the group arKI hence tsking reasonable steps for the preventlon and detectlon of fraud and other irregulanlies. The Trustees, report was approved by the Board of Trustees. 61Page KADAMPA MEDITATION CEMfRE NOTTINGHAM UMITED ACcOU￿s FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Report to the Trustees of KMC NOTfiNGHAM LIMITED This is a report on the accounts of KMC Nottingham Limited for the year end8d 31 December 2024. which are set out on pages 8 to 12. Respectfve respon8lbllltl08 of trust￿ and exarnlner The charitys trustees a￿ ￿spOnsible for the preparation of tho accwts. The charttys trustees consider Ihat an audft is not rffjuired tor this year urKler sethion 144 of the Chaffiies Act 2011 lthe Ch￿ItIeS Act) and that an independent examination is needed. It is my responsibllty to: examine the accounts under se￿10n 145 of the Charilies Art to follow the procedures laid down in the general Directions given by th• Charity C(xnmission (under section 145(5)(b) of ts Charities Act). and to state whaiher particuTar matters have come to my attenfjon. Basls of IndePend￿t •xamln•f8 report My examination was caTried out in accordance with relevant genernl DArections of the Charities Coxnmissio An examination includes a review of the accounting records kept by the charity and a comparftson of the accounts presented with those records. h also includes consideration of any unusual items or disclosures in tbe accoun￿ and seeking explanations from the trusttts COnc¢￿g ally such matters. The procedures undertaken do not provide all the evideuce that would bc required in an audiL and consequently no opinion is given on whether the accounts present a and fair view" Indepondent oxamlnees ststement tn the course of my examination, no matt¢r has come to my attention: which gives me reasonable cause to believe that in ary material respect the requirements: lokeep actounTing records in accordance wilh SeciN)n W1) (a) of the 2005 Aci and Regulation 4 of the 2006 Accounts Regulations to prepare accourts which a￿)rd with the ac(x)unting records and comply with Regulation 8 of the 20(YAccounts Regulations have not been met," or to svhich, in my opinion, attention should be drawn in order to 8nabJe a prow urKlerstarKlin9 of the accounts to be reached. Going concem is addressed at acojuntlng note 1 'going (x)ncern matterf., users of the accounts should pay aiientTon ro this note. Thg buVI Ing Is hefd.on books at close to tts market value, See note 6. Signed Date 24109 12025 Alistair Jenkins 71Page ACCOUNTS FOR TrIE YEAR ENDED 31"DECEMBER 2024 14 Shiels Drive, Flton, Bristol.. 81Page KADAMPA MEDITATION CEMfFIE NOThINGHAM LIMITED ACCOUNTS FOR THE YEAR ENDED 31 OECEMBER 2024 (A Company Umlted by Guarnnhe not havlng a Shre CapftaD STATEMENT OF FIN,ANCIAL ACTIVITIES For the year ended 31 December. 202¢ 2024 Unrnstricted Fundg un￿trIcted Funds Income frorn: Voluntary inc¢)me Acllvities for genwallng funds Chafitable aclivitiK - Eduealion 67.081 3.280 40.326 1.623 Totsl Income 91.￿17 Expendithre on: Chaiitable aetivitles Fundraisin9 costs Governance 113,978 1,050 109.021 Tolal Expen(filure 115.37 110,39B Net (Expense) I Income fw the Year An REcoNauATION OF FUNDS knght lorward UnTestiicted fun(ts 381.376 431.286 Net (Experse) I lftcome for thè Year Funds C•nled Forward P3.471) 149."910) The accomparying notes on pages 10- 12 fomi part of these financfal"statements. 91Page KADAMPA MEDITATION cE￿E NOTnNGHAM UMITED Accou￿ FOR THE YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET 2023 NotQg Unrnstslcted Funds Unrestficted Funds FIXED ASSETS Taftgible A$sets 1.014.428 1.024.835 CURREpif ASSETS Cash at Bank 3,379 Slock 5.639 6,267 CREOITORS Amounts falling due *rythiTr.one.year.-.-._.-- 123.899 67,944 NET CURREiif ASSETS 896.168 1158 CREtXTORS- Amounls after on• year Bank Loans NET ASSETS OF THE CHARITY 381.3T6 FUNDS OFTHE CtrL4RITY Un￿trIct•d Income Funds TOTAL CHARITY FUNDS 351,￿5 381,376 The accompanying notes on pages 10- 12 fonn part of these financial statements. The company Is entilled to the exemption from the audlt rqimremenl conlained in s8(ai￿ 4T1 ofthe Companle8 Act 201￿. for the year ended 31 December 2024. The directors a(*MvAedg8 their responsibilitses for complying wilh the reqthments ofts c￿npanIeS Ad 21K6 wlth respect to a￿O￿nting re(yNds and the preparatioft of.financial statemerts.. ' The membeT5 have not required the company to obtsin an audit of ts financlal stateThnts forlho year in qwtion in accordarKe with section 476. These finarthl slatements hav8 be￿ prepared in a(x%¥dm wilh the provisicTh applicablè lo ￿MpanIeS sub to ts mll o)mpafttes fegima. - Pe £s 1.5... Signe¢rYl..a&: P Nam8 & position .................... 10IPage KADAMPA MEDITATION CENTRE NOThINGHAM UMITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMEKrs ACCOUNTING POLICIES Basis ot l*•paratlon The financial *atements have been prepared in accordarts with the charitys goveming'documenL the Compantes Act 2006, FRS 102 Yhe Financlal Reporting Standard applicable in the UK and Republic ol [￿lan1r ("FRS 10r) and the Charities SORP 'Aco)uniing and Reporting by Charities." Staterne￿ of Recommended PR￿ice applicable to charities preparing their actounts in accordartt with ts FinarKial ReportlrvJ Standard applicable in Iha UK and Republic of Ireland (FRS 102)" (elleclive 1 January 2019). The Charity is a Public Benefit Emtity as d¢fined by FRS 102. The thrity taken advantsge of the pmvisions ID the SORP for ¢barities not to prepazE a Stat¢ment ofcasb Flows. The fiwicial slatements bave beenpTq>affd thc histori￿1 cost ￿nventio]l The priDcApal ac￿11￿8 policies *{bp￿1 set bdow. As the busiees are submilling the accountsfor2024, operating conditsons are improving, hatt operattrg resuR gfves comlort over going concom. posi 2￿24 year end. I￿leed the managery*nt infoimaiion show 2025 being substantralty Improv￿ over 2024. The Charity trustees continu8 Sleps to reinforc8 cashflow. maxlmising renlal income car8ful control of costs. The Truste8s believe the financial probity of the charity is assured into the future, butcash flows remain fight. Income All I￿)me is wilhout reb*iction and is recogriwl in the Slatement of Financial Acliifjlies oncethe charity has entltten*nt to tTr* lunds, it 1$ probat￿8 that the Income will be received arnl the arrK)unt Can be measured reliably. Liabilil'8s are recognised as experthjre as soon as there is a legal or con*ructive obllgation committlng the Charity to that ex￿llUre, It is probaNe that a transfer ot e￿nOrn￿ beneffts wll be ￿tsired in settlement and the amount olthe obligatlon can, be measured rdiably. Expendilure is accoL•rtedfor on an acwals basis and ha been classified under headings that aggregate all cost related to tho category. Where costs.cannot be rfirecuy attributed to particular headings they have been *bcated to athivities on a basis Con￿$￿ent wilh u80 of r&8ources. Tanglbb fixed ass•ts DepreGlation ts provid￿1 atthe following annu* rales In order lo wrile off each asset over its ￿Mate