REGISTERED COMPANY NUMBER: 2866202 (England and Wales) Registered Charity Number: 1038999 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FOR KADAMPA MEDITATION CENTRE MANCHESTER
KADAMPA MEDITATION cEpRE MANCHESTER {REGISTERED NUMBER: 2866202) coKrENTS OF THE FINANCIAL STATEIEKrs FOR THE YEAR ENDED 31 DECEMBER 2021 Page Report of the Trust8es Report of Independent Examiner Statement of Finanaal Activilies Balance Sheet Notes to the Financial Statements
KADAMPA MEDITATION CEpifRE IIANCHESTER (REGISTERED NUMBER 2866202) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The tNstees, who a also the directors for the purposes of company law. present their rèport with the rinancial statements of the Chanty for ttie year ended 31 Dember 2021. REFERENCE AND ADMINISTRATIVE DEfAILS Registered Company Number 2866202 (England and Wales) Registered Charity Numb8r 1038999 Regist8red Offi 76 High Lane Chorlton-cum-Hardy Manchestsr M219XF Independent Examlner.. Alistair Jenku)s FCA Trustees: Janet Higgins J8nnrfer Andre Jeffrey Simm Company Secrntary Lisa M Oevine STRUCTURE, GOVERNANCE AND MANAGEIAEiir Govèrnlng Document The charity is ¢ontrolled by its goveming document. a deed of trust, arKI constrtut8$ a limited company, limited by guaranlee, as defined by ihe Companes Act 2006. The organisalion is a charitable company limited by guarantee and register8d with the Charities Commission. The company was established under a Memorandum of Association which established the objecis and powers of tr charitable corrpany arKI is governed under its Articles of Association. Rlsk Management The trustees have a duty to identify arKI review risks to whith the charrfy is exposed and to ensure that appropriatè control8 are in Pla to provide reasonable assurance against fraj and error. Page 1
KADAMPA MEDrrATION CENTRE MANCHESTER (REGISTERED NUMBER: 2866202) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021- coKfiNUED OBJECTIVES AND ACTivifiES Obiectlv88 and Aims The main objective of the tharity is to promote the BdhISt faith under the spiritual guidan of the elected General Spintual Director of the New Kadampa Tradition- Intemational Kadampa Buddhist Union (NKT- IKBU).This objective is achieved princrpally through the activitEs of teathirvJ, study and Practi based uwn th8 teachings of Venerable Geshe Kelsang Gyatso. the found8r of the NKT-IKBU. In April 2015 the charity entered into a 5-year operab'ng lease on Premises at Portland Str8et Manchester and Sin June 2015 has been running addrtional Buddhist classes and courses from those premises. This was then extended for a year and ended in May 2021 when we Closed the Portland st premises as the landlord wished to used the space for somethirYJ drfferent. The charty is IrrentlY looking to open a new spa in the crty centre. The ntre had to close to in-person classes in 2020 and was able to open on arKI off thn)ughout 2020 and 2021. We were financially assisted by the government COVKI grant scheme fi)r the cty ntre Spa. Towards the end of 2021 the centre continu8d online as I11 as tying to open up in person a8 much as Possible. FINANCIAL REVIEW Reserves Pollcy At the present time neither the income nor the a8sets of the drty are sufficient to put in place a reseNes policy. but n8cessary measures will be taken at the appropn'ate time. Investment Pollcy and ObJe¢tivos Al the present time neither the income nor the assets of the chanty are sufficient to put In place an investment policy, but nece&8ary measures will be taken at the appropriate time. ON BEHALF OF THE BOARD: L M Devine - Secretary Date.. 1/1111 Page 2
KADAMPA MEDITATION CEpifRE MANCHESTER (REGISTERED NUMBER: 28662021 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31st DECEMBER 2021 I report on the accounts of Kadampa Nkditatton Centre Manchester. for the year ended 2021, 88 per pages Respective responsibilltie$ of the Tnths and the Indopfrndent Examiner As Trustees you are responsible for the preparation of the financial statements,. you consider that an audrt is not required under Section 144(2) of the CharItS AL 2011 (the 2011 A(a) and that an independent examination is needed. It is my resFonsibilty to.. a) Examine the accounts under SelOn 145 of th& 2011 Act. b) Follow the prOdureS laid down in the General Directions gi%En by the Charity Commissioner8 under Sectton 145{5)b of the 2011 Ad.. and c) State &ther particular matters have Gon to my attenb'on 88s18 of thls report My examination VRS (arried out in accorrlance with the General Directions gwen by the Charity Commission. An examinatron includes a review of the accounting records kept by the charrty and a omparison of the accounts psented with those records tt also includes considering any unusual items or disclosur8s in the accounts and seeking explanations from you as trustees conmIng any such matters. The procedures undertakan do not provide all the evideno that would be required in a full audrt, and con8equently I do not express an audit ¢)pinion on the accounts Indepgndent Oxaminerfs •tatan*nt In connection with my examination, no matters have come to my attention." Which give me reasonable Cause to believe that in any matersal respert the rEquirements to keep accounting records in accordance with section 130 of the 2011 Ad., and to prepare accounts which accord with these accounting records have not been met., or wrth sedion 130 of the 2011 Act,. and to prepare accounts which accord wrth these account IEcords have not been met., or To which in my opinion, attention 8houkl be dra in order to enable a proper understanding of the accounts to be reached. Signed ,ik,v Date 23 108 12022. Allstalr Jenkln8 - Independent Examiner 14 Shrels DrNie, BRISTOL, BS32 8EA. Page 3
KADAMPA MEDITATION ¢ErRE MANCHESTER (REGISTERED NUMBER: 2866202) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 INCOMING RESOURCES Incomlng Resourc from Generated Funds Courses, Fundraising and Other Govemment Grants Rent Receivabie Bank Interest R8ceNed 46.097 12,500 32.362 65,457 31.800 37,424 43 Total Incoming Ro8ourco8 134,524 RESOURCES EXPENDED Charitable activities Finance l Govemance 72.189 7.628 109,546 4,817 Total Re8ourc08 Expend•d NET INCOMINGIOUTGOING RESOURCES RECONCILIATION OF FUNDS 20.161 Total Unrn8trlct•d Funds Brought Forwanl Net income l outgoing r8source8 TOTAL FUNDS CARRIED FORWARD 473,539 462,189 The notes fomi part of these financ4al statements Page 4
KADAAIPA MEDrrATION CENTRE WICHESTER (REGISTERED NUMBER: 2866202) BALANCE SHEEr AS AT 31 DECEMBER 2021 2021 2020 FIXED ASSETS Tangible Fixed Assets 657,250 663.794 CURRENT ASSETS Stocks Debtors Cash at Bank arKJ in Hand 5,382 5.382 20,572 LESS CREDITORS Amounts due wthin ore year NET CURREKf ASSETS 143.545 147.904 245 TOTAL ASSETS LESS CURREpif UABILlflES LESS CREDITORS Amounts due after more than one year 6 NET ASSETS 718,083 727,039 233,399 473 538 REPREsErED BY: Unrestricted Funds 484,682 473,538 TOTAL FUNDS The chartsble company is 8ntilled to exwnpticn frcyn di1 urNJer Sec'(m 477 crf the Companies Act 2C#J6 fc the year ended 31 December 2021. The members have not requi the ChtIe r£mpany to obtain an audit of it8 financial statements for the year ended 31 Demter 21f21 in •xthan( ¥fjth sl0n 476 01 the CLxnpanie5 Act 20Ce The trustees a¢krM)vledge tr1r re8[91b1lIts.a5 for d) ansuring that the Ch'ty key accountsng rec(Yds that c(YnFly 1th 388 387 of the Ccmpanies Act 2006 and •) preparing financia Statements vknich gNe a true fa.r vi•v of th8 ste d aff&rs of the charrte C1panY as al the end of each finanaal year and of its SufP[ or defiut for e financiaf yeai in with the requirements of Sectsons 394 and 395 and otswise comply the UIr&nents of the Cunpanies Act 2CKJ6 relating to financ¥al 8tatwts, so f as 4plicable to ts chantatle cc¢nFArry. These financid statements hwe been IxepfyJ in ith 8rrtial PTcNisioll$ icat4e to ccYftpanie$ suts'ect to the small ccnpani8s regime. These financia statements aFpr(wed by the Board Tnjstees and sere signed on its behalf by.. Signed.. JSimm-T stee The notes fonn part of these financial staterrtnts Page 5
KADAMPA MEDITATION CEpifRE MANCHESTER (REGISTERED NUAIBER: 2866202) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2021 AccouKfiNG POLICIES Basis of preparing the financial statements The financial statements of the tharty have been prepared under the historical cost convention and in accordance with the Statement of Reo)mmended practi for Aco)unting and Reporting by Charitres applicable to charrties prepanng their accounts in accordan with the Financial Reporting Standard (FRS 102). th8 Charities SORP {FRS102) and the Companies Ad 2006. Incomlng RO*oUe5 All incoming resour$ are included on the Statement of Financial Activities wten the charity is legally errtitled to the income arKI the amount can be quantified with reasonable accuracy. Resources Expended Expenditure is accounted for on an accruals basis and has b89n dassifted under headiThJs that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have Ixen allocated to activities on a basis consistent with the use of resources. Tanglblo Flxed Auot8 DepCiall0n is provided at th8 followiTrJ annual rates in order to WTite off eadj awt over its estimated useful lrfe.. Freehold Property Fixtures & Fittings Motor Vehicles Tools & Equipment 1%oncost 25% on reducing balan 25% on reducing balance 20% on reducing balance Stocks Slocks are valued at the lower of cost and net real'sable val, after making due allowan for obsolete and slow moving rtems. Taxatlon The charity is exempt from tax on rts charitable actsvitEs. Fund Accountlng Unrestncted funds L¥n be used in accordance with the tharitable objectives at the discretion of the Trustee8. Restricted funds can c¥)ly te used for particuEar restrscted purposes within the objects of the charity. Restrictions arise vthen specrfied by the donor or when funds raised for particular restncted purposes. Further explanation of the nature and purFrf)se of each fund is included in the notes to the financial statements. TRUSTEES. REMUNERATION AND BENEFrrs The We no Trustees, remuneration or otPEr benefts (ind(KJing trustee expenses) for the year ended 31 December 2021. Page 6
KADAMPA MEDITATION CENTRE MANCHESTER (REGISTERED NUMBER: 28662021 NOTES TO FINANCIAL STATEMEKfs- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 3. TANGIBLE FIXED ASSETS Freehold Property Fixthres PAotor & Fittings Vehicle Too18 & Equlpment COST Opening Cosi Addition3 'sp¢yJals Total 754,575 51.593 814,822 3.078 Closing Cost 51 814 LESS DEPRECIATION Opening Depreciation Depreci*on Charged for Year sposals aosing Depwatson 96.879 47,681 917 6.468 151,028 721 NEf BOOK VALUE Al 31 December 2021 BOOK VALUE Al 31 Decemtw 2020 912 2021 2020 4. DEBTORS Sundry Debtc Prepayments Short- term Lo$ Other Debtors 1,819 11,115 8. CREDrroRS: APa0uP DUE wrrHIN ONE YEAR Accruals Rent DeF#)sils Held Other Credit¢XS Short Tenn Loan Mortgage 2,336 10 71,600 71,80) 114 71 6. CREDrroRS: Amouvfs DUE AFfER IAORE THAN ONE YEAR Mortgage The mortgage is secured on the freetrdd prop&ty
KADAMPA IAEDrrATION CEKfRE PAANCHEsfER IREGisfERED NUMBEIi' 286ff202) Income and Expenditure account (not for submlssion externalty) 2020 INCOMING RESOURCES Incoming Resourcès from Generated Funds Courses, Fundraising and Other Govemment Grants Rent Receivable Bank Interest Received 46,097 12.500 32,362 65.457 31,600 37,424 43 Total Incoming Resourcos 1,960 134524 RESOURCES EXPENDED Detsiled view Ifor internal roview) Payroll Salaries Employer PensM)n Contributs'ons Rent, Rates and Insurance Hest, Light and Water Materials, Purchases aThJ Course Costs Telephone, Web H¢)sling etc Postage, Stationery and Office Costs Sundry Expenses Motor & Travel Expenses Repairs and Renewals Donations and Offenngs Advertising and Publicrty Depreciation of Tangible Fixed Assets Loss (Profit) on Disposal of Fbxed Assets 15.185 991 25.848 5.613 1.152 2,013 493 3.832 1.295 1.122 2,342 2.681 9,622 23.450 757 50,849 6.986 2,853 1.661 440 2.831 406 4,796 3,362 1.487 9,395 253 109,546 Finance l Governance Govemance (Accounting) Finan Interest 71189 391 7,627 4817 Totsl Rosources Expended 11 NET INCOMINGIOLrrGOING RESOURCES 20.161 P¥8