Kadampa Meditation Centre Wales
A company limited by guarantee
Annual Trustees Report and Financial Statements
31st December 2021
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Kadampa Medltation Centre Wales Annual Tru8tee8 Report 2021
Index
Page
cc￿tents
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
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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 Ar￿188 of
Assocaation.
RECRUITMENT & APPOINTMENT OF NEW TRUSTEES
The Direct￿5 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), ￿1C*b 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.
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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 reCep￿n rooms (used for dining-room, meditation rcwjm: and
offKX) and 8 basement. The main sources of in￿rne 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 fOrn￿r 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.
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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 a￿0MmOdate 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 CO￿rdInatOr (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 requir￿1 guidan￿ to ensure the communty's safety.
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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 s￿ritUal 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 rr￿t 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 dep￿latiOn.
DIRECTORS AND THEIR IKfERESTS
Those who ser4ed as Dir￿tOrS during ￿ yoar are listed on Page 3 of this reporL
The company 18 limited by guarantee 8fKI as s￿h has no share caytsl.
lan Kavanagh (Company Smtsry) ￿kS as a suppcxt wcKker and has been a BLKldhist for
eighteen years.
Chris Mann is retir￿1. He has t*en a Buddhist ts e￿hte￿ ypars. He is also 8 trust&
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STATEMENT OF TRUSTEES, RESPONSIBILrriES
The trustees are also the dir&tors of the Charity for the of
Company law) are resp￿SIble for preparing a trustees, annual rep(xt and fin￿￿la1
statements in accordance with applicable law and United lfjngdom Ac(x)untirvJ St￿￿d8
(United Kingdom Generally A￿epted ACC(￿ntIlvj Practice). Company r￿UreS 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 ltr￿n 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 irregUlant￿S.
Apyoved by ts Board
Name...................................Signed....... ........
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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
D￿rnber 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 t￿leve 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 V￿th the aCC￿nting r￿S 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
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Kadampa Meditation Centre Wales Annual Trustees Report 2021
Date
Alistair Jenkins
14 Shiels Drive, Filton. Bristol. BS32 8EA.
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mpa Meditation Centre Wales Annual Trustees Report 2tr21
STATEMENT OF FINANCIAL ACTIVITIES
Fw
FWMIS
Grea* l (Xh8r irw
8.513
IOT2
3.075
Total I￿1￿*
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(￿lP3n￿Ing rKJtes on kwes 12- 14 fomi part of11￿¢ fin*Kaal st
Name & positKJn .fK W••.r).Fl￿0........
Dats sils f,,
10
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mpa Medrtation Centre Wales Annual Trustees Report 2021
Crtany Unthd by Gu￿nI* 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 slatsrr￿8.
For ts yew eThJiro 31 December 2Cf201, the cxryany 8nb.tled to exemption frrTh a￿lit urthr 9oc*'cm 477 of tt
Approv•J by th• txxrd:
Name & positi'on ....
.wq)FÉ4J .. Signed....................
p ioÉLfoSL
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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 Chal￿e5
eparing their accounts in a￿OrdanCe 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
othe￿iSe 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
deS￿nated for other purposes.
Th8 asset fiJrKI reFKesents the trustee's unrestricted interest in the freehold property
used by th8 charity.
c) In￿me
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 a￿OUnted ts on an acuuals basis; and shtywn in the financial
stateff￿nts when ts charrty 8ams the unconditional right to funds.
Varm￿3 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.
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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, Ir￿uding irrecover8ble VAT.
charita￿ expenditure comprises those costs inCUr￿d by the charity in
delivery of ts activi￿, both costs directly attributable and indirect supp(xt costs.
Govemant2 costs indude those costs asscKiated with rn￿ting 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 deprecIa￿n. 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 Stra￿ht line
20Vo on cost straight line
Assets below £250 and grant fijnd￿l expenditure are not capitalised. txrt written off
within e￿nseS. Tr Trustees do not believe any assets impaired and do rKrt
cary out an impaimient review.
13
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Kadampa Meditation Centre Wales Annual Trustees Report 2021
NOTES TO THE FINANCIAL STATEMENTS {coKllNUED)
2. FIXED ASSETS
F￿1￿85 &
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:
cornme￿181 bank loan secured on the frthold property. Interest on this k￿n 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
perS￿all03n$ ￿￿MberS and irKIivKIu818 vthich ar8 interest fr98 and Uns￿red
Other Creditors ￿rythin ¢Th year indude rent tK)nds, am(yJnts duo to tenants u
4. RESERVES
5. SHARE CAprrAL
c￿nY ts limit￿ by guwwrtee Tr) shwe capital.
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