Kadampa Meditation Centre Wales A company limited by guarantee Annual Trustees Report and Financial Statements st 31 December 2020 Registered tharity number 1039234 Registered company number 2869366 In ETrJland Wales
adampa Meditation Centre Wales Annual Trustees Report 2020 A member of the New Kadampa Tradition - International Kadampa Buddhist Union Index Page Table of contents Report of the Trustees Statement of Trustee's Responsibilities Independent examinerfs report Statement of Financial Activities 10 Balance Sheet Notes to financial ststements 12-14
dampa Medltstlon Contre Wales Annual Trustses Report 2020 REPORT OF THE TRUSTEES The trustees submrt their report arKI un-audited financial slatements of the company for the year ended 3181 December 2020. MANAGEMENT AND ADMINISTRATION CHANGE OF CONSTITUTION: On the 13 December, 2020 the Charrty formally resolved Io adopt a ConstitLrtJ'on (Mem(yandum of Association and Articles of Assxiation). ¥thich resulted in the then Directorstrrustees resigning and new Directorsrrrustees being appointed. Apart from the ex-officlo Directorrrrustee. the tenn of office for Director8rrru8tees 18 UP to the third AGM after their appointment. The Object8 of the Charity remain unaltered foll(wing this Constrtutional change. The following detsils the DirectorsrusteeS during 2020, up until the amendments to the Constrtution.. FORMER DIREcTORsRuSTEES. WI unless otherwise indicated, resigned on the adopts.on of the amended Constitution.. Mr. Adrian Bence (appointed 11 May. 2014, resigned 10 October, 2020) Chris Mann (appointed 1 July, 2018, resigned 12 December, 2020) Mrs. Loma Leigh (appointed 12 May 2019. reSned 12 December 2020) 2020) Malcolm Woodfield (appointed 10 October. 2020, resigned 12 December, | COMPANY SECRETARY lan Kavanagh (appointed 7 September, 2019) CURRENT DIRECTORsrrRUSTEES.' Mr Chris Mann (appointed 13 December 2020) Mr Malcolm Woodfield (appointed 13 December 2020) Kelsang Droljang (ex-officio. appointed 13 December 2020) REGISTERED OFFICE SPRINGFIELD HOUSE. FFYNONE ROAD UPLANDS. SWANSEA. SA16DE REGISTERED NUMBER 2869366 CHARITY NUMBER 1039234
mpa Meditation Centre Wales Annual Trustee8 Report 2020 STRUCTURE & GOVERNANCE GOVERNING DOCUMENT The organisation is a company limited by guarantee and a registered charity. The company's goveming documents are its Memorandum of Association and ArtTrdes of Association. RECRUITMENT & APPOINTMENT OF NEW TRUSTEES The Directors of the company a also charity tnjstees. The Trustees retire by rotab'on and ate eligible for reappointmerrt at the AGM. Any member who wishes to stand may do so. OBJECTIVES AND ACTIVITIES The objects of the Charity (°the Objects") are to promote the Buddhist Faith under the spiritual guidance of the elected General Spiritual Director of the New Kadampa Tradition - International Kadampa Buddhist Union (Nlff - IKBU) principally through the activities of teaching, study, practice and Observan of moral discipline all within the Mahayana Buddhist tradrtion of Ati5ha and Je Tsongkhapa as taught by Venerable Geshe Kelsang Gyatso, the Founder of the New Kadampa Tradition - International Kadampa Buddhist Union, through the continuous implementation of the three New Kadampa Tradition Study Programmes" the General Programme, the Foundation Programrne and Teacher Training Programme. BACKGROUND The Charity has a Grade-11 listed large delached property in the conservation area of Ffynone, Swansea. The property has a number of bedrooms, 3 reception rooms (used for dining-room, medff£ation room; and office), as well as a basement. The main sources of income are people renting rooms to live in and people attending dasses and courses. The General Programme classes are priced at £6. We njn dasses across South, West and Mid Wales. Classes are suitable for anyone, irrespective of age, gender, race or ligIOn and teach how to meditate and put Buddha's teachings into practice N%ryth the intents'on to improve the qualty of our daily lives. The Centre is part of the New Kadampa Tradition - Intemational Kadampa Buddhist Union. network of Centres throughout the l0d that practi Kadafflpa Buddhism, founded by Venerable Geshe Kelsang Gyatso. The Centre is run by an Admin Director. a Resident Teacher (RT), an Education Programme Co-ordinator (EPC), and a Treasurer, the fomer receiving acrL)mmodation and the EPC and RT receiving a stipend and accornmcyjation. The centre also relies on volunteers and is dedicated purely to the public benefft.
mpa Meditation Centre Wales Annual Trustses Report 2020 ACHIEVEMENTS & PERFORMANCE T Since purchasing the property in 2006 the building has been transformed. The hallways and public areas have been fully refitted in line with its original design. Larger rooms have been converted into useable living spa. The rear garden has been landscaped and 18 now a secluded haven of tranquility. Since the opening of the new meditstion room in 2013 there has been greater benefit to the local community in respect of all the facilities at the Centre. During the year substsntial WO was undertaken to upgrade and improve the krtchen as well as important fire prevention work throughout the building. In winter, 2020 work began on creating a small fiat for use by the new Resident Teacher, Kadam Paul Jenkins and hi8 wife Sue, who will take up the Treasurerfs role. This work is scheduled to be completed on February, 2021. DEVELOPMENT OF KADAMPA MEDITATION CENTRE, WALES IN 2020 As a KMC it is possible to invite Resident Teachers from other NKT Centr8s. In February we We pleased to welcome Kelsang Lamchen. the Resident Teacher from Bristol, to teach course. Plans to invite other teachers did not proceed due to restrictions imposed as a consequence of the Coronavirus pandemic. We also ensured the safety of our residents by restricting visits to the Centre from non-residents and members of the public. The Coronavirus pandemic and the wulations substantially changed how the Centre operated during 2020. All dasses running in extemal venues across South. West and Mid Wales were cancelled. The programme of dasses was moved to being streamed online from the Centre. These have proved very popular the provision of local classe8 is missed. We hope to re-establish these dasses when the regulations allow, we will also ensure that all classes will operate safely and within Govemment guidelines. Resident Teacher. Kadam Michael Garside resigned as Resident Teacher of KMC Wales on the 12 September, 2020 due to ill health. Vthilst we wished Kadam Mike a speedy recovery. we were pleased to welcome Kadam Paul Jenkins as our Resident Teacher. He has come with years of experien within the New Kadampa Tradition. Kadam Paul plans to move to KMC Wales in February 2020 upon completion of his accommodation, in the interim period he has been able to teach online., induding the General Programme, half and fvll day UrSeS, the Teacher Training Programme and partiapate in online prayers. Education Programme COrdinator {EPC).' The EPC works with the Resident Teacher to establish the spiritual programme arKI to organise the publicity. We are very grdteful to Karen Woodfield who has undertaken this role on an interim basis in the absenc6 of a full time EPC. A new EPC has been appointed and will be taking up this role in January 2021.
iia Meditation Centre Wale• Annual Tru8ts08 Report 2020 be taking up this 18 in January 2021, I dasses, courses, daily prayers and retreats were moved onllne due to the Coronavirus Pandemic. It is hoped that face to face classe8 will be re-88tsbli8hed in 2021. The Centre continues to be repented on th6 Swansea SACRE (Standing Advi80ry Council for Religious Education) We encourage visits to the Centre by sthools and colleges however face to face vi81t8 have been temporarily suspended due to the pandemic. R88idents'. There has been full ctcupancy throughout the year. The centre will lose one bedroom which will now be dedicated as part of the flat for the ino)ming resident teacher. Working visitor8.' There have been a number of working visitors in the ntr8 between March and September 2020. They have undertaken essential work in Springfield House and helped with live streaming dasses, courses and retreats. Coronavirus.. At the beginning of lockdown (March, 2020) and throughout the year, we fully adhered to the Welsh Govemment regulations. as previously indicated dosed our face to face classes and moved our programme online. We ensured that all residents followed the required guidance to ensure the communities safety. PLANS FOR 2021: We will welcome a new Resident Teacher, Treasurer and Education Programme Co- Ordinator to the Centre in 2021. Due to on-going Govemment regulations the spiritual programme will continue to be live reamed. As it stsnds we are unable to make firm plans regarding the programme and re-opening. The Found8tion Programme will restart on Wednesday evenings. The Teacher Training Progr8mme will continue on Sunday momings. The Welsh Dharma cebr811On will be held at the Centre in June, yth Kadam Bridget Hayes, the UK National Spiritual Director of the NKT gr8nts.ng the blessing Empowerment of Buddha Maitreya. We hope to be able to promote volunteering opportuni8 induding working in the centre and fund raising 8Ctivib'es. at the Centre to the wider communty however this is depends on
itation Centre Wal•s Annual Trustees Report 2020 will be undertaking a programme of maintenance, renovation and other building work, to th ensure that this 19 Century listed building continues to be an important resource for the wider communrty. We will continue to be a member of the local Council for Voluntary senlCe who provide considerable support for voluntary organisations and provide appropriate training courses. Further information about all our events can be found at w*M.meditationinwales.org. FINANCIAL REVIEW The charity's finanaal wsits'on is good with total unrestricted reseNes at the end of the year of £382,519. These reserves are held to meet the charity's objectives. FINANCIAL OUTCOME The company had a surplus for the year of £8,272 and cash balances at year end of £18,961 available to service the charitable objectives in the forthcoming period. DIRECTORS AND THEIR INTERESTS Those Wtr served as Directors during the year are listed on Page 3 of this rewrt. The company is limited by guarantee and as such has no share P11. DIRECTORS AND THEIR INTERESTS Those who served as Directors during the year are listed on Page 3 of this report. The company is limited by guarantee and as such has no share capital. Loma Leigh is retired and has been a Buddhist for thirteen years and was a resident at the centre for four years. Adrian Ben is a support worker and has been 8 Buddhist for fourteen years. Chris Mann is retired. He has been a Buddhist for seventeen years. He is a trustee with local third sector organisations. Malcolm Woodfield is a support worker, he has been a Buddhist for twenty years. Kelsang Droljang is the ex-officio Director and also serves as the Admin Director at Kadampa Meditation Centre London. She has been a Buddhist for twenty nine years. lan Kav8nagh (Company Secretary) works as a support worker and has been a Buddhisl for eighteen years.
pa Meditation Centre Wales Annual Trustses Report 2020 TATEMENT OF TRUSTEES, RESPONSIBILITIES The charity trustees (who are also the directors of the Charity for the purposes of Company law) are responsible for preparing a trustees, 8nnual report and financial statements in accordance with applicable la*V and Unrted Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law r&4uires 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 incoming resources and applution of resources, induding the income and expenditure, of the charity for that period. In preparing the financial statements, the trustees a required to: select suitable accounting policies and then apply them consistently,. observe the methcmjs and prinaples in the Charities SORP,. make judgements and estimates that are reasonable and prudent" state whether applicable UK accounting standards have been followed, SUbjt to any material departures disclosed and explained in the f nancial statements,. prepare the finanaal statements on the going conrn basis unless it is inappropriate to presume that the charity will c£)ntinue in business. The trustees are responsible for keeping proper accounting records that disdose V#Yth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hen tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board IVJJ (G ...............slgned............. U( ojl'ja
pa Meditation Centre Wale3 Annual Trustee8 Report 2020 dependent Examinerfs Report 'To the Trustses of Kadampa Medltation Centre, Wal08 This is a report on the accounts of Kadampa Meditation Centre Wales for the year ended 31 December 2020, which are set out on pages 10 to 14. Respectlve rnsponslbllltles of trustees and gxamlner The charity's trustees are responsible for the preparation of the accounts. The charivs trustees consider that an audtt is not required for this year under section 144 of the Charities Act 2011 (the Chartties Act) and that an independent examination is needed. It is my responsibilty to: examine the accounts under section 145 of the Charities Act, to follow the prdureS laid down in the general Directions gNen by the CharTty Commission (under section 145(5)(b) of the Charities Act), and to state whether particular matters have come to my attention. Basis of independent •xamin•rfs r•port My examination was carried out in accordance with relevant general Diredions of the Charities Commission. An examination incIeS 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 the trustees conmia any such matters. The proodures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given on whether the accounts wnt a Irue and fair vievK. Independent examlnerfs statement In the course of my examination, no matter has come to my attention: 1. which gives me reasonaNe cause to believe that in any material respect the wuirements: to keep accounting records in accordance with Section 44(1) (a) of the 2005 A and Regulation 4 of the 2006 Accounts Regulations to prepare accounts which accord with the accounting records and corn with Regulalion 8 of the 2006 AGcounts Regulations have not been rnet, or to which, in my opinion, attention shoukl be drawn In order to enable a proper uThJerstanding of the accounts be reached. Signed Date 23/ 4- Alistair Jenkins 14 Shiels Drive, Fifton. Bristol, BS32 8E
mpa Meditation Centre Wales Annual Trustees Report 2020 Com an Guarantse not havln STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December, 2020 Funds Funds 3.076 Gr¥rt I ikn (Xre 5(754 63.674 4625T 46882 RECONCIUATION OF FUNDS 16,501 357.746 21.[9 344,475 Net (Exw) I Irm Year 8.2T2 381019 374247 The acryxnpan.ng notes on pages 12- 14 fomi part of these financlal ststements. 80 Name & position................................ Signed..............
ampa Medltatlon Centre Wal08 Annual Trusto08 Report 2020 ALANCE SHEET As at 31 Docembor, 2020 VIXED AJieTI 5ffj.753 531, CIIRREMT Aiie7s Cash al 8•* Iwkj 11.161 ,on 1011 3T.T23 ET CURRENT ASSETS I IUABLITESI 8[• 174.(ry1 187x4 XET ASIETS OF M ciiwry .748 The mpanng n85 on pw 12- 14 fom part d these fin8n(ial aternents. Nar & %b.0n................................ tJiC2&el
mpa Meditation Centre Wales Annual Trustees Report 2020 ompany Limited by Guarantee not having a Share Capital) NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES a) Basis of Preparation The accounts are prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Rew)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting stsndard for Smaller Entities published on 16107114, the Financial RertIng Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical st or transaction value unless otherwise stated in the relevant accountirKJ policy note{s). b) Fund Accounting Unrestricted funds are available for use at the dIsClon of the Trustees in fvrtherance of the general objectives of the charity and which have not been designated for other purposes. The asset fund represents the trustee's unrestricted interest in the freehold property used by the charity. c) Income Income is included in the Statement of Finanaal Activities when the charity is entitled to the income and the in¢x)me be quantified with reasonable accuracy. Grant ino)me is accounted for on an accruals basis,. and shown in the financial statements when the charity eams the unconditional right to funds. Various fomis of voluntary income are received by way of education, donations and fundraising activities. These are induded in full in the Statement of Financial Activities when received. 12
ampa Meditation Centre Wales Annual Trustees Report 2020 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ACCOUNTING POLICIES (Confd) d) Expenditure Expenditu is induded in the Statement of Financial Activitses on an accrual basis as a liability is incurred, including irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in the delivery of rts activities, tK)th costs directly attn'lxrtable and indirect support costs. Govemance costs include those costs associated with meeting constf(utional and statutory requiremeths, principally aUntIng and AGM expenses. e) Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at Q)5t less accumulated depreciation. where appropriate. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Fumiture & Fittings Property Improvements 200/0 on cost straight line 20% on cost straight line Assets below £250 and grant funded expenditure a not capitalised, but written off within expenses. The Trustees do not believe any assets are impaired and do not carry out an impairment vIeW. 13
dampa Meditatlort ales Annual Trustees Report 2020 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 2. FIXED ASSETS Tothl Net Bcth va 31112r2019 531.883 12110 4411 817 Disp)sa 4422 -163 Net 31112fioxi 3.529 54S753 3. CREDITORS- loan The amounts falling due wtthin one year and after more than one year include a commercial bank loan secured on the freehold property. Interest on this loan is induded in the profit and loss account. They also include personal loans from members and individuals which are interest and unsecured. Other Creditors within one year indudes rent bonds, amounts due back to tenants upon satisfaction of the departure criteria. 4. RESERVES The unrestricted asset reserve preSentS the charity's equity interest, after mortgage, in the freehold property it (wpies. 5. SHARE CAPITAL The Company is limited by guarantee having no share capital. 14
Jgmpa Meditation Centre Wales Annual Trustees Report 2020 IA Gompany Limited by Guarantee not having a Sharn Capltal) STATEMENT OF Income and Expenditure For the year ended 31 December. 2020 2020 2019 3.076 3.106 Ethall 17.189 754 6&4 1.138 7.173 1,313 24,429 113 5,103 1.102 19.510 s)Y l Bar* th I IrtWEs1 4.847