2020-12-31-accounts - Kadampa Meditation Centre Manchester

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REGISTERED COMPANY NUMBER: 2866202 (England and Wales) Registered Charity Number: 1038999 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2020 FOR KADAMPA MEDITATION CENTRE MANCHESTER

KADAMPA MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2020 Pago Report of the Trustees 1to2 Statement of Flnanctal Actlvltles Balance Shaet 4toS Note8 lo the Flnanclal Ststement8 6t08

KADAMPA MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER 2866202) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 The trustees, who are also the dlre¢tors for the purposes of company law, pr858nt thelr report wlth the financial statements of the Charfty for the year ended 31 December 2020. REFERENCE AND ADMINISTRATIVE DETAILS R8gistered Company Number 2866202 (England and Wal8s> R8gi$terad Charfty Number 1038999 Registered Offlce 76 High Lan8 Chorlton-cum-Hardy Manchester M219XF Accountsnt., Davld Robinson Ind0Pond•nt Examlnor.. Yu8uf Laher FCCA Trusto81: Janet Hlgglns Jennlfer Andrews Jeffrey Slmm Company Secr•tary Lisa M Devlne STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Do¢um•nt The charity is contro118d by Its goveming document, a deed of trust, and conslltut88 a Ilmlted company, limlted by guarantee, as defln8d by the Companles Act 2006. Thè organlsatlon18 a charltable company Ilmlted by guardnt88 and r8glsl8red wlth the Charftles Commission. Th8 company was established undèr a Memorandum of Assoclatlon which establlshed the objects and power8 of the charitable company and is govemed under Its Articles of Assoclatlon. Rlsk Management Th8 trustees have a duty to Identlfy and revlew thè rtsks to which the charity is exposed and to ensure that approprlate controls are In place to provSde reasonable assurance against fraud and error. Pag8 1

KADAMPA MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) REPORT CF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020- CONTINUED OBJECTIVES AND ACTIVITIES Objectlves and Almg Th8 main objects've of the charity Is to promote the Buddhist faith under the spiritU81 guidanc8 of the electéd General Spiritual Director of the New Kadampa Tradition - Intemational Kadampa Buddhlst Union {NKT- IKBUI.This obj8dlve is achieved principally through the 8Ctivilles of teaching, study and practice based upon the teachlngs of Venerable Geshe Kelsang Gyatso, the founder of the NKf-IK8U. In April 2015 the ¢h8rfty entered into a 5-year operating lease on premises at Portland Str88t Manch8st8r and since June 2015 has been running addltlonal Buddhlst classes and courses from those premlses. FINANCIAL REVIEW Roservos Poll¢y At the present tlme nelther the income nor the assets of the charity are sufficlent to put In place a re88rves policy, bul necessary measures will be taken at the appropriate time. Investment Poll¢y and ObJoCtlve8 At the present tlme nelther the income nor th8 a888t8 of the ch8rlty are Sufficlent to put In place an inve8tm8nt pollcy, but n8cess8ry measures will be taken at the appropriate tlme. Thi8 report has been prepared In accordance wlth the Speclal provlslons appllcablo to componles subject to the small companles regime. ON BEHALF OF THE BOARD: L M Devlne - Secretary Date: 101611 Page 2

KADAMPA MEDITATION CENTrE MANCHESTER (REGISTERED NUMBER: 2866202) STATEMEt4T OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestrlcted Funds 2020 Unrestrlcted Funds 2019 INCOMING RESOURCES Ineomlng Resources from Generatgd Funds Courses, Fundraising and Other Govemment Grants Rent Receivable Bank Interest Received 65,457 31,600 37,424 43 83,280 41,896 93 Tolal Incoming Resources 134.524 126,269 RESOURCES EXPENDED Co8ts of Goneratlng Funds Payroll Salaries Employer Pension Contributions Rent. Rates and Insuran Heat, Light and Water Materials, Purchases and Course Costs Te18phone, Web Hosting etc Postage, Ststion8ry and Office Costs Sundry Expenses Legal & Professional Fees Motor & Trav81 Expenses Repairs and Ren8wals Accountancy Donations, Offerings and Sponsorship Advertising and Publicity Depreciation of Tangible Fixed Assets Loss (Profit) on Dlsposal of Fixed Assets Flnanco Chargos Equipment Rental Bank Charges and Card Fee8 Mortgage Interest 23,450 757 50,849 6.986 2,853 1,661 240 2,399 432 406 4,796 220 3.362 1,487 9,395 253 109,$46 28,100 643 53,496 7,475 9.493 1,393 301 2,660 1.612 2,159 240 6,369 2,868 10,022 127,311 886 1.117 Total Resources Exponded NET INCOMINGIOUTGOING RESOURCES 4817 6,770 114363 134 081 20,161 .812 RECONCIUATION OF FUNDS Total Fund8 Broughl Forward 453,377 462.189 TOTAL FUNDS CARRIED FORWARD 473 538 453 377 The notes fomi part of th88e financial ststement Page 3

KADAMPA MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) BALANCE SHEET AS AT 31 IIECEMBER 2020 2020 2019 Not• FIXED ASSETS Tangible Fixed Assets 663.794 673,271 CURRENT ASSETS Stocks Debtors Cash at Bank and In Hand 5,382 20,572 121 950 6,164 20,584 103 221 147,904 129,969 LESS CREDITOR8 Amounts due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT UABILMES 727,039 706,870 LESS CREDITORS Amounts due after more than on8 year 6 NET ASSETS 253 501 253 493 473538 REPRESENTED BY: FUNDS Unrestrictéd 473,538 453,377 Restrtcted TOTAL FUNDS Th8 n¢Jtes fomi part of those financi81 stat8ments Page 4

KADAMPA MEDrrATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) BALANCE SHEET - CONTINUED AT 31 DECEMBER 2020 The charrtaDle company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020. The m8mbers have not required the charitable company to obtain an audil of its financial statements for the year ended 31 December 2020 In accordance with Section 476 of the Companies Acl 2006. The tnJst88s acknowledge their responsibilities for a) ensuring that the charity keeps accounting rerdS that comply wtth Sections 386 and 387 of the Companies Act 2006 and b) preparing flnanclal statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year In accordance with the requirements of SectFons 394 and 395 and which otherwise comply with tho requlrements of th6 Companies Act 2006 relating to financial ststsments, so far as appllcable to the charitable company. These financial statements have been prepared in accordan with the special provisions applicable to companies subject to the small companies regim8. These financial statements were approved by tho Board of Tnjstees on behalf by,. 2021 and were signed on it J Simm - Twstee The notes fomi part of these financial ststemènts Page 5

KADAMPI, MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) NOTES TO THE FINANCIAL STATEMENTS FOR THE I'EAR ENDED 31 DECEMBER 2020 ACCOUNTING POLICIES Ba818 of preparlng the flnan¢lal statements The financial statements of the charity have been prepared under Ihe h15torical Cost ¢onv8ntlon and Sn accordance wlth the Statement of RecL)mm8nded Practice for ACCOUnng and ReportSng by Charities appllcable to charitl8s preparlng their accounts in accordance With th8 Financial R8POrting Stsndard (FRS 102), the Charitles SORP (FRS102) and the Companies Act 2006. Incomlng Resources All incoming resourc8$ ar8 Included on Ihe Statement of Financial Activities wh8n the charlty Is 18gally entitled to the income and the amount can be quantlfied wlth reasonabl8 ac<xJracy. Rosourc•8 Expondod Expenditure is accounted for on an 8ccru818 basls and has been dassFfied under h8adlngs that aggr8gate all cost related to the category. Wher8 costs cannot be directly attributed to particular headlngs thay have been allocated to 8Ctlvltle8 on a basls conStent wlth the use of resource8. Tanglbl• Flx•d A8$•t• D6prec18tlon is provlded at the followlng annual rates In order to wrtte off each asset over it8 estlmated useful lrfe: Freehold Prop8ty Flxtures & Fittlng8 Motor Vehlcles Too18 & Equlpment 1%on c08t 25% on reduclng balanca 25% on reduclng balance 20% on reducing balanc8 Stock• Stocks are valued al the lowor of cost and net realls8ble value, after maklng due allowance for obsolete and slow moving Items. Taxatlon The charity Is exempt from tax on its charltable advitles. Fund Accountlng Unrestricted fund8 can be used In accordance wtth the charltable objgctlves at the dlscretlon of the Trust88S. ReStried funds can only b8 used for particular re8tricted purpo$es withln the object8 of the charlty. Restrlctlons ar18e when specthed by the donor or when funds are ralsed for partlcular reslrfctad purposes. Further explanatlon of the nature and purpose of each fund18 Included in the note8 to tho financial statemenls. TRUSTEES. REMUNERATION AND BENEFITS There were no Tru8tees' remuneratton or other benefits for the year ended 31 December 2020. Trustn8' Expensos There were no Trustees, expensas paid for the year ended 31 December 2020. Page 6

KADAMPI, MEDrrATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) NOTES TO FINANCIAL STATEMENTS - CONTINUED FOR THE Th EAR ENDED 31 DECEMBER 2020 3. TANGIBLE FIXED ASSErs Freehold Property Flxtur•8 & Flttlngs Motor V•hlcle$ Tools & Equlpment Total COST Openlng Cost Addillons Di8po8als 754,575 51.593 1,000 8.314 340 815,482 340 Closlng Cost 81 822 LESS DEPRECIATION Openlng Deprerialion Depr8clalion Charged for Yoar Dlsposals Closlng Depreclatlon 89.334 7,545 46,377 1,304 578 5,922 546 142.211 9.395 -578 151028 -57 NET BOOK VALUE Al 31 Decombor 2020 NET BOOK VALUE 131 OerA8mber 2019 673 271 2020 2019 4. DEBTOR8 Sundry Debtorn Prepayments Short- larm Loan8 Oth•r DgbtOf8 1,819 11,115 1,824 11.122 638 Other Debtorn relats8 lo a refundable dapo8M ¢)n a &year lee8e to Aprll 2020. 5. CREDITOR8: AMOUNTS DUE wrrHIN ONE YEAR Accruals Ront Dep081ts Hold Other Credllors Short Temi Loan Mortgage 2,336 600 10 71.600 3,538 1,400 71,600 The mortgage 1$ secured on tho freehold prowty 6. CREDITORS: AMOUNTS DUE AFfER MORE THAN ONE YEAR Mortgago 253 493 The mortgagels 88curod on tho freehold property 7. UNRESTRICTED FUNDS Opening Balance Brought Forward Net Movem6nt in Fund8 Closing B81ance Carried FoTward 453,377 462,189 Page7

KADAMPA IIEDrrATION CENTRE MANCHESTER (REG18TERED NUMBER: 28662021 NOTES TO FINANCIAL STATeMENT3- CONTINUED FOR THE YEAR ENDED 310ECEMBER 2020 8. MOVEMENT IN FUNDS At 31.12.19 Not Movement At 31.12.20 In Funds Unr08tr1¢ted Funds General Fund 453 377 473 538 TOTAL FUND8 473 538 Nat movements In funds. induded in th8 abovè, are as folws. Incoming Resour¢•s Resources Expended Movemenl In Funds Unrestrlct•d Fund8 General Fund 114363 TOTAL FUND8 134524 114 363 Page 8

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name KADAMPA MEDITATION CENTRE MANCHESTER members of On accounts for the year 31 DECEMBER 2020 Charity no 138999 ended (if any) Set out on pages 3 TO 8 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY .

Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Date: 02 AUGUST 2021 Name: YUSUF LAHER Relevant professional ASSOCIATION OF CERTIFIED CHARTERED ACCOUNTANTS qualification(s) or body (if any): Address: 91 ALAN ROAD MANCHESTER M20 4SE

October 2018

IER

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to N/A disclose .

October 2018

IER