Kadampa Meditation Centre Wales A company limited by guarantee Annual Trustees Report and Financial Statements 31st December 2021 Scanned with CamScanneT
Kadampa Medltation Centre Wales Annual Tru8tee8 Report 2021 Index Page cctents Report of ts Trustees Statement of Trustees Responsibilities Independent Examinerfs ReFM)rt Statement of Financial Activrties 10 Balance Sheet 11 Notes to financtal ststemonts 12-14 Scanned with CamScanneT
Kadampa Meditation Centre Wales Annual Trustees Report 2021 REPORT OF THE TRUSTEES The trustees submit their report and unaudited financial statements of the company for the year ended 31 st l)ecember 2021. MANAGEMENT AND ADMINISTRATION The folknying detsils the Directorsrrrustees during 2021. COMPANY SECRETARY lan Kavanagh (appointed 7 September, 2019) CURRENT DIRECTORsmiusTEES: Mr Chris Mann (app"ftted 13 December 2020) Mr Malcolm Woodfield (appointed 13 December 2020) Kelsang Droliang (ex-officio, appointed 13 December 2020) REGISTERED OFFICE SPRINGFIELD HOUSE. FFYNONE ROAD UPLANDS, SWANSEA SA16DE REGISTERED NUMBER 2869366 CHARITY NUMBER 1039234 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 Assoo'ation and Ar188 of Assocaation. RECRUITMENT & APPOINTMENT OF NEW TRUSTEES The Direct5 of the rnpany are also ch8rity trustees. On 13 December, 2020 ts Chanty fomally resolved to adopt a Consbtuti( (Memorandum of AssociatwJn and ArtM of Ass(xiab'on), 1Cb resulted in ts then Directorsrfrustees resun1 and new Directorsrrrustees being appointed. Apart from the ex-officio DirectorlTrustee, the tenn of Offi for Directorsrrrustees is up to the third AGM after their 8ppointment. The trustees may retire at any stage during their tem of office. kny memb8r who wishes to St may do so. Scanned with CamScanneT
Kadampa Meditatlon Centre Wales Annual Trustees Report 2tr21 OBJECTIVES AND ACTMTIES The objects of the Chanty rthe Objects.) ar8 to promote the Buddhist Faith under the spiritual guidance of the elected General Spiritual Director of the New Kadampa Tradition - Int6mational Kadampa BLKldhist Union (NKT - IKBU) principally through the actIVrt of teaching, study, practice and observance of moral discipline all within the Mahayana Buddhist tradition of Atisha and Je Tsongkhapa as taught by Venerable Geshe Kelsang Gyatso. the Founder of the New Kadampa Tradition - International Kadampa Buddhist Union. This is achieved through the continuous implementats.on of the three New Kadampa Traditi Study Programmes: the General Programme. the Foundation Programme and Teacher Training Programme. BACKGROUND The Charity has a Grade-11 listed detsched property in Uplands, Swansea. The propety has numt*r of bedrooms, 3 reCepn rooms (used for dining-room, meditation rcwjm: and offKX) and 8 basement. The main sources of inrne are residential rent and dasses and courses attended by the general public. Classes run across South, West and Mid Wales. Classes are suitable for anyone, irrespectNe of age, gender. race or religion and tsach people how to meditate and apply Buddha's teathings in daily life. The Centr8 is part of the New Kadampa Tradition - International Kadampa Buddhist Union which was founded by Venerable Geshe Kelsang Gyatso and is part of a network of Id¥de Buddhist Centres prath'cing Kadampa Buddhism. The management tearn consists of an Admin Director (AD). a Resident Teacher (RT) and an Education Prvgramme cfr0rdlnat (EPC) Imth the fOrnr receiving accommodation arKI the EPC and RT receiving 8 stipend and acxommodation. The Centre also relies on volunteers and is dedicated purely to public benefft. ACHIEVEMENTS & PERFORMANCE There have been a number of developments since purchasing the propety in 2006. Public areas were fully refftted in line wrth its original design. larger rooms were converted into usable living spaces and a nthv meditation room was opened in 2013 with funding support frrxn the Na'onal Lottery. In 2021 ts Centre embark&J on a substantial Building Development Programm8 to complete essenlial intemal and extemal repairs and to undertake extensive improvements to the accommcmjation in the Centre. This programme of work will be undertaken in 2 stages and is funded mainly through a development loan from NKT-IKBU but also to a lesser extent through the Centre's own reserffi. The Directors are gratefijl to NKT-IKBU for their SUPFQrt, detsils of Wthich are indLKled in a¢Unts (See note 3 below). The Centre 8180 beneffted from a numbw of generous donats'ons from indivKluals. Scanned with CamScanneT
Kadampa Medthon Centre Wales Annual Trustees Report 2021 During 2021 the first stsge of the Building Development Programme vras completed. W¢xk induded upgrading bathrooms and residents, rooms, decorating the main hallway, stairs and landing and creating a small flat to a0MmOdate the Resident Teacher and his wife. Substantial improvements were made to upgrade and improve fire prevention and safety throughout the building. We also began preparations for Stage 2 of the Building Development Programme which will focus on exlemal repairs and improvements. DEVELOPMENT OF KADAMPA MEDITATION CENTRE WALES IN 2021 The Coronavirus pandemic and asso(aated regulab'ons continued to alter how the Centre operated during 2021. All classes in the Centre continued on an online basis only, while dasses in extemal venues across South. West and Mid Wales were temporarily dosed. The change in Govemment restrictions in May 2021 saw classes at KMC Wales and a small number of extemal venues re-open with numbers limite(l and precautions in place. A new membership scheme and booking system was launched in September 2021 to streamline how the general public both tx)ok and access in-person and online dasses. This has been a very successful development wth rnembership numbers increasing each month. In addition to the aforementioned General Programme dasses the Centre opened a new Foundation Programme in February 2021 which has seen numbers increasing throughout the year. In 2021 the Centre hosted the Welsh Dhamia Celebration with Kadam Bridget H8yes as an online event which proved to be very successfvl. Resldent Teacher. Kadam Paul Jenkins, who was appointed as Resident Teacher at KMC Wales in September 2020, moved into KMC Wales in February 2021. Education Programme COrdInatOr (EPC): The Centre was very happy to also welcDme Roland Jones as the new EPC in January 2021. The EPC works %Mth the Resident Teacher to establish the spiritual programme and to organise all aspects of running and develw'ffj the education side of the charity. Resldents:,, There has been full occupary throughcxrt the r. Worklng vlsitorn: Due to curr8nt restric there were no Ing visitors in 2021. Coronavln*: The Centre fully adhered to the Welsh Government regulations; as previously indicated face to face classes were temporarily dosed and moved (lIne. We that all residents foll(ywed the requir1 guidan to ensure the communty's safety. Scanned with CamScanneT
adampa Meditation Centre Wales Annual Trustees Report %Y21 LANS FOR 2022 th the easing of Coronavirus pandemic restrictions, the Centre aim8 to gradually reduce limitations on dass numtws and retum to pre-pandemic operations whilst still offering online access to classes. This will indude developing our bilingual approach and offen'ng dasses and courses in Welsh. Kadam Bridget Heyes, the UK National sritUal Director of the NKf, is due to vistt Swanse8 in February 2022 to deliver a public tslk at The Brangwyn Hall arKI also to lead the Welsh Dhanna Celebration 2022 which will take place in-person at KMC Wales and will also be broadcast online. We aim to promote volunteering opportunities induding prdctical woth in the Centre and fund-raising activities. The secorKI phase of our Building Development Programme will start in the summer with the focus on the exterK)r of the building We will continue to be a member of the local Council for Voluntary Service who provide considerable support for voluntsry ¢yganisations arKI provide appropriate training courses. FINANCIAL REVIEW The tharity's financial position is g(x)d Imth total unrestricted reserves at the end of the year of £382,063. These reserves a held to rrt the charity's objectives. FINANCIAL OUTCOME The company had a defiat for the year of £456 and cash balances at year end of £11,812 available to service the charitable objectives in the forthcoming pericxj. The defiat is driven by addilional investment in assets results'ng in deplatiOn. DIRECTORS AND THEIR IKfERESTS Those who ser4ed as DirtOrS during yoar are listed on Page 3 of this reporL The company 18 limited by guarantee 8fKI as sh has no share caytsl. lan Kavanagh (Company Smtsry) kS as a suppcxt wcKker and has been a BLKldhist for eighteen years. Chris Mann is retir1. He has t*en a Buddhist ts ehte ypars. He is also 8 trust& Scanned with CamScanneT
STATEMENT OF TRUSTEES, RESPONSIBILrriES The trustees are also the dir&tors of the Charity for the of Company law) are respSIble for preparing a trustees, annual rep(xt and finla1 statements in accordance with applicable law and United lfjngdom Ac(x)untirvJ Std8 (United Kingdom Generally Aepted ACC(ntIlvj Practice). Company rUreS tt charity trustees to prepare financial statements ts each year whith give a far of the state of affairs of the charitable ¢x)mpany and of the irKoming reswr(x applicati'on of resources, induding the incOff and expenditu. of the tharity ts that wxxl. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them nsiStentI. observe the methods and principles in the Charities SORP,. • make judgements and esb'mates that are reasonable and Fyudent. state whether applicable UK accounting standards have been follthved. subject to any material departures disclosed and explained in the financial statements: • wepare the financial statements on the goirvJ concem basis unless it is inapwowth to presume that the charity will CA)ntinue in business. The trustees are responsible for keeping proper accounting records that disdose reasonable accuracy at any time the financial Fx)sitton of the charrty arKI to ltrn to ensure that the financial statements comply with the Companies Act 2006. Ttw are also responsible for safeguarding the assets of the charity arKI the group and hermx tth'rKJ reasonable steps for the prevention and detects' of fraud and ots irregUlantS. Apyoved by ts Board Name...................................Signed....... ........ Scanned with CamScanneT
Independent Examinerfs Report To the Trustee8 of Kadampa Medltation Centre, Wales This is a repxt on the accounts of Kadampa Medrtation Centre Wales for the year ended 31 Drnber 2021, which are set (xrt pages 10 to 14. Respectlve responsiblllties of trustees and examlner The charitys trustees are responsible for the preparation of the accounts. The tharity's trustees consider that an audit is not required this year under section 144 of the Chanties Act 2011 (the Charities Act) and that an independent examinat is needed. It is my responsibilty to: exarnine the accounts under section 145 of the Charities Act, to follcw the procedures laid down in the general Directions given by the Charity Commission (under tIOn 145(5) {b) of the Chaiities Act). and to state whether parts'cular matters have come to my attention. Basis of Independent examinerfs report My examination was carried out in accordarKe with relevant general Directions of the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with ttrM)se re¢x)rds. It also indudes cx)nsKleration of any unusual items or disdosures in the accounts. and seeking explanations fr(xn the trustees conceming any such matters. The pr(edureS undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given on whether the xcounts wesent a 'true and fair vi. Independont examlnerfs statoment In the course of my examination, no matter has come to my attenti. 1. iCti gives me reasonable cause to tleve that in any material resFeCt the to keep xcounting rwds in acc(ydan with Secti¢M 44(1) (a) of the 2005 Act and Regulab"on 4 of the 2006 A(xxxJnts Regulab"ons to prepare accounts which acccKd Vth the aCCnting rS arKI (mplY with Regulation 8 of the 2(N)6 Accounts Regulats"ons have not been met. or 2. to which, in my opinion, attenlK>n should be drawn in cth to enable a proper Scanned with CamScanneT
Kadampa Meditation Centre Wales Annual Trustees Report 2021 Date Alistair Jenkins 14 Shiels Drive, Filton. Bristol. BS32 8EA. Scanned with CamScanneT
mpa Meditation Centre Wales Annual Trustees Report 2tr21 STATEMENT OF FINANCIAL ACTIVITIES Fw FWMIS Grea l (Xh8r irw 8.513 IOT2 3.075 Total I1 764 70.187 43,257 70A12 Il•t qExpw•l I Ine4xn• for th• Y•v 24,7rJ 357.746 357.746 l (ExpTh) I fty thè Year Iw) 82r2 For the yoar ended 31 December, 202 The aC(lP3nIng rKJtes on kwes 12- 14 fomi part of11¢ finKaal st Name & positKJn .fK W••.r).Fl0........ Dats sils f,, 10 Scanned with CamScanneT
mpa Medrtation Centre Wales Annual Trustees Report 2021 Crtany Unthd by GunI not havlng i Shar• Caw) 8ALANCE SHEET As at 31 December. 2021 Fw•ts FIW) A88ETI 8)1.2n S.153 CBsh 11.812 I8.1 13. 64.731 1,191 Th• aco)mpanying notes on pages 12- 14 fomi part of these financaal slatsrr8. For ts yew eThJiro 31 December 2Cf201, the cxryany 8nb.tled to exemption frrTh alit urthr 9oc'cm 477 of tt Approv•J by th• txxrd: Name & positi'on .... .wq)FÉ4J .. Signed.................... p ioÉLfoSL Scanned with CamScanneT
pa Meditation Centre Wales Annual Tru8tee8 Report 2021 c•ny UThthd by GuKant•• not havlw a kn Caww) NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNMNG POUCIES a) Basis of Preparation The accounts are prepared under the historical 5t convention. The financial statements have been prepared in 8{x0rdan ¥Mth Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to Chale5 eparing their accounts in aOrdanCe wrth the Financial Reportrng Standard for Smaller Entities published on 16107114, the Financi81 Reporting Stsndard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are inrtially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy note(s). b) Fund Accountlng Unrestricted fiJnds a available for use at the discretion of the Trustees in rtherance of the gener81 objectives of the chaiity and lch have not been deSnated for other purposes. Th8 asset fiJrKI reFKesents the trustee's unrestricted interest in the freehold property used by th8 charity. c) Inme Income 18 induded in the Ststement of Financi81 Activities when the charity is entitled to the in¢x)me and the income can be quantified with reasonable accurxy. Grant irthm8 18 aOUnted ts on an acuuals basis; and shtywn in the financial stateffnts when ts charrty 8ams the unconditional right to funds. Varm3 lorm8 of voluntary irKome are received by way of education, donations and fundraising activities. These are induded in full in the Statement of Financaal Activrti88 %then weived. Scanned with CamScanneT
Kadampa MedlL*lon Centre Wales Annual Trustees Report 2021 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ACCOUNTING POUCIES (Contd) d) Expendlturn Expendrture is induded in the Statement of Financial Activities on an a(Lrual basis as a liabilty is inaJrred, Iruding irrecover8ble VAT. charita expenditure comprises those costs inCUrd by the charity in delivery of ts activi, both costs directly attributable and indirect supp(xt costs. Govemant2 costs indude those costs asscKiated with rnting cDnstitutional and statutory requirements. principally ac£ounb'ng and AGM expenses. e) Tanglbl• Fixed Assets and Depreciation Tangible fixed assets a ststed at cost less accumulated deprecIan. WP appropriate. DeFxeoation is provided at rates calculated to write off the cost less estimated residual value of each asset over its exFeCted useful life, as folltrws: Fumiture & Fittings Property lm[ements 20% on cost Straht line 20Vo on cost straight line Assets below £250 and grant fijndl expenditure are not capitalised. txrt written off within enseS. Tr Trustees do not believe any assets impaired and do rKrt cary out an impaimient review. 13 Scanned with CamScanneT
Kadampa Meditation Centre Wales Annual Trustees Report 2021 NOTES TO THE FINANCIAL STATEMENTS {coKllNUED) 2. FIXED ASSETS F185 & tXK* 31112rJJ20 531, 514763 -13.516 -17.761 Il•¢ book 3111YJI21 531.ea3 5.013 3. CREDITORS - loan The amounts falling due within year and after more than one year include: cornme181 bank loan secured on the frthold property. Interest on this kn is indudeo in the yofit and k>ss account and non-commerc4al devek)prnent loan (NKf.IKBU development) vtho8e repaynwrt temis are fiexible, interest free arKI unsecurwj perSall03n$ MberS and irKIivKIu818 vthich ar8 interest fr98 and Unsred Other Creditors rythin ¢Th year indude rent tK)nds, am(yJnts duo to tenants u 4. RESERVES 5. SHARE CAprrAL cnY ts limit by guwwrtee Tr) shwe capital. 14 Scanned with CamScanneT