NKT- IKBU
Kadampa Meditation Centre Wales
A company limited by guarantee
Annual Trustees Report and Financial Statements
31" December 2024

Kadampa Meditation Centre Wal88 Annual Trustee8 Report 2024
Reglstwed charfty numbw 1039234
Registwed cory)ary numb8T 2869366 In England and Wales
A momb8r of the Kadampa Tradbtlon . Intematlonal Kadampa Buddhlst Unlon
Index
Page
Table of ￿ntent8
Report of the Trustee3
ststement of Trustee's Responslbilitles
Independent examine¢s report
9-10
ststwnent of Financial Activitles
11
Balance Sheet
12
Notes to financial statements
13-15
Income and Expenditure
16

Kadampa Meditatlon Centre Wales Annual Trustees Report 2024
REPORT OF THE TRUSTEES
The trustees submlt thelr report and un8udited financlal statements of the company for the year
ended 31st December 2024.
MANAGEMENT AND ADMINISTRATION
The following details the Direttors and Trustees durln8 2024.
COMPANY SECRETARY
lan Kavanagh lappointed 7 Septeniber, 2019)
CURRENT DIREcfoRsmusTEES:
th
Kelsang DrolJanE (ex-officlo, appolnted 13 December 20201 Reslgned 29102124)
Kelsang Phacho8 (ex-officlo, appointed 29/02124)
th
M5 Ftye Johnson (appolnted 26 June 2022)
th
Mrs. Deborah Bence (appointed 17 September 2023)
REGISTERED OFFICE
SPRINGFIELD, FFYNONE ROAD
UPLANDS, SWANSEA, SAI 6DE
REGISTERED NUMBER
2869366
CHARITY NUMBER
1039234
GOVERNING DOCUMENT
The organlsation Is a company Ilmlted by guarantee and a reglstered charlty. The company's
governin8 documents are Its Memorandurn of Associatlon and Articles of Assoclatlon.
RECRUITMENT & APPOINTMENT OF NEW TRUSTEES
The Directors of the company are also charlty trustees. The Trustees retlre by rotatlon and are
eligible for reappolntment at the AGM. Any member who wlshes to stand may do so.
On 13 December 2020, the Charlty formally resolved to adopt a new Constltutlon (Memorandum of
Associatlon and Artlcles of Assoclatlon), whlch resulted In the then Dlrectorsnrustees reslgnin8 and
new Dlrertorsnrustees being appolnted. Apart from the ex-officlo Dlrectornrustee. the term of
office for Dlrectorsnrustees Is up to the thlrd AGM after thelr appolntment. The trustees may retlre
at any stage durlng thelr term of office. Any member who wlshes to stand may do so.
OBJEcnvES AND AcfiviTIES

Kadampa Medltatlon Centr8 Wale8 Annual Tru8t888 Report 2024
The objects of the Charlty (Trhe Objects.) ère to promote the Buddhlst Falth under the splrltual
guldance of the eletted General Splrltual Dlrector of the New Kadampa Tradltlon - Internatlonal
Kadampa Buddhist Union INKT - IKBU) prlnclpally through the attivltles of teachlng, study, prattice
•nd observance of moral disciplSne all withln the Mahayana Buddhlst tradltlon of Atlsha and Je
Tsongkhapa as taught by Venerable Geshe Kels3n8 Gyatso, the Founder of the New Kadampa
Trnditlon - Internatlonal Kadampa Buddhlst Unlon, throu8h the contlnuous Implementatlon of the
three New K8dampa Tradltlon Study Pro8rammes: the General Prografflme, the Foundatlon
Programme ènd Teacher Tralnln8 Pro8ramme.
BACKGROUND
The Charty has a large Grade-11 Ilsted detached property In the conservatlon area of Ffynone,
Swansea. The property has fourteen bedrooms, three receptlon rooms (used for loun8e/cafe,
meditation room and office), and a basement. The maln sources of Income are people rentln8
rooms and people attendlng classes and courses. The General Pro8ramme classes are prlced at £7.
aasses are run across South. West and Mld Wales. Classes and courses are sultable for everyone,
irrespective of age. gender. race or rell8lon and teach how to medltate and apply Buddha's teachlngs
to modem daily lives.
The Certre is part of the New Kadampa Tradltlon
Internatlonal Kadampa 8uddhlst Unlon.
network of Centres throu8hout the world that practlce Kadampa Buddhlsm, founded by Venerable
Geshe Kelsang Gyatso. The Centre Is run by an Admln Dlrector, a Resldent Teacher (RT), an Educatlon
Programme CO￿rdInatOr (EPC), and a Treasurer, the former recelving accommodatlon and the EPC
nd RT receiving a stlpend and accommodatlon. The centre also relles on volunteers and Is
dedicated purely to the publlc beneflt.
ACHIEVEMENTS & PERFORMANCE
Since purthaslng the property In 2006 the Centre has refurblshed and converted the Interlor spaces
to serve the functlon of the Charlty In provldlng classes and courses In Medltatlon and Modern
Buddhism. A new meditation room was opened In 2013 with fundin8 SUPPOrt from the Natlonal
Lottery. In addition the Centre contlnues to provlde, malntaln and up8rade facllitles for resldentlal
use of the bulldlng Includln8 all aspects of Health and Safety and Flre Regulatlons
A three stage Bulldlng Development Projert Is In progress seelng extenslve upgrades to the Interlor
and exterlor of the bulldln8. The flrst stage of the project was completed In 2021 Includln8 essentlal
internal and external repalrs. The first stage was malnly funded throu8h a development loan from
the NKT-IKBU and some contrlbutlon from the Centre's own reserves. The Dlrectors are gratefvl to
NKf-IKBU for thelr support. The Centre contlnues to benefit from a number of generous donatlons
from indlvlduals. The first stage of the Bulldln8 Development Programme was completed In 2021.

Kadampa Meditstion Centre Wale8 Annual Trustees Report 2024
DEVELOPMENT OF KADAMPA MEDITATION CENTRE WALES IN 2024
l. ￿lIdIng Development
In early 2024 finènces were secured through a development loan from the NKT-IKBU to commence
WO￿ on Stage 2 and Stage 3 of the development projert whlch comprlses a more extenslve
pro£ramrne of external repairs and fvrther Internal Improvements Includlng:
11 Renovation of the exterlor of the bulldlng to herlta8e standards Includlng new rainwater
oods, repalrs to stonework and render In Ilrne mortar, repalfs to roofs and chlrnneys.
renovation of exterior woodwork, restoratlon of hlgh level stonework.
Redecoration of the communal lounge with a new kitchenette
Re4ecoration of the Meditatlon Hall
Rtrdecoration and bringing back Into use two small guest rooms whlch have been
unusable due to untreated damp.
New furniture and fittings to complete the upgrade to a modern, attractlve and publlcly
accessible lounge.
Refurbishment of the laundry room
Realignrnent of the entrance to the slte Includlng relnstatement of gateposts whlch were
previousty removed due to dama8e, soft landscaplng and sl8na8e.
Work was completed on redecoratlng the maln kltchen, redecoratlon of the Meditatlon Hall,
redecoration of the cornmunal lounge wlth a new kltchenette and new furnlture and fittings to
complete the upgrade to a modern, attractive and publlcly accessible lounge. Scaffoldlng was
eretted around the exterlor of the buildlng mld 2024 for Sta8e 3 however commencement of work
was postponed untll Sprlng 2025.
I Spedal Events
In February 2024, KMC Wales welcomed Gen Kelsan8 Dornylng tu Swansea for an evenlng talk at the
Brangwyn Hall with a total of 56 people attendlng. The talk was followed by a day course at KMC
Wales with 21 people attendlng.
KMC Wales hosted Its annual Resldentlal Away Retreat at Nagarjuna Kadampa Medltatlon Centre In
March 2024 with 21 attendees enjoying a beautlful weekend away In Northamptonshlre. A very
successful day retreat at Coed Hllls near Cowbrldge was dellvered with 35 people attendlng.
In April, KMC Wales hosted Its annual empowerment weekend wlth Resident Teacher. Kadam Paul
Jenkins. A total of 50 people attended In person and online for a very enjoyable Saturday course and
retreat on Sunday. June 2024 saw the flrst Medltatlon In the Park event with 25 people attendlng.

Kadampa Medltstion Centre Wales Annual Trustees Report 2024
September 2024 saw KMC Wales open Its doors for another successful Open Day. Thls free event,
run In conjunttion wlth CADW'S annual Open Doors month, 8lves local people a chance to
experience the beautlful Virtorian building that Is home to KMC Wales. The day Includes tours of the
property, free guided meditatlon sesslons In both Welsh and Engllsh and compllmentary
refre5hmerrts ère served throu8hout the day. A total of 50 people attended.
In December 2024 the Centre hosted the Welsh Dharma Celebratlon wlth Kadam Brld8et Heyes. The
event proved to be very successful wlth 54 people attendlng In-person and onllne.
aasse5 arKI Courses
In 2024, we saw a year-on-year Increase In both class and course attendance, accompanled by a
corresponding rise in educatlonal revenue. Throu8hout the year, we contlnued to adapt our
programme to meet the evolvin8 needs of our communlty whlle makln8 the most of our teachln8
resource5. All dasses and courses at the Centre were also made avallable onllne, allowing those
unable to attend In person to stay connected and benefit from the teachlngs.
KMC Wales membershlps have rernalned stable wlth numbers of around 60 people paylng for
regular monthly study membershlps by standlng order and subscriptlon. The centre's Study
Programmes continue to thrive with a stable number of students attendln8 The Teacher Tralnlng
Programme and The Foundatlon Programme.
In addition to our regular artlvities at the Centre, we malntalned weekly classe5 In Port Talbot and
Cardiff, delivered three-week serles In Cowbrld8e and Lampeter, and held Saturday courses In
Narberth, Cardrff. Merthyr, and Ammanford.
4. Resldents:
There has been full and stable occupancy for most of 2024 except for a two month gap between one
resident moving out and another movln8 In.
S. Volunteers
During 2024 KMC Wale5 has contlnued to develop opportunitles for people to volunteer. The
delivery of the Centre's Education Programme Is hl8hly reliant on the kindness and dedlcation of
volunteers. Opportunities to volunteer are actively promoted through bl-annual email newsletters,
publiaty and social rnedia. In Sprlng and Autumn 2024 the Centre hosted two Centre Cherishing
Days with over twenty volunteers attendlng the centre on each occaslon. Thls Is an opportunity for
the community and volunteers to come together to cherish the bulldln8 and spend time tO8ether.
6. SACRE
KMC Wales contlnues to offer outreach work with local 5thools workln8 closely with the Standing

Kadampa Meditation Centre Wales Annual Trustees Report 2024
Advlsory Councils on Rell8lous Educatlon (SACRES) by offerln8 SUPPOrt for the Reli8lous studies
curriculurn.
PLANS FOR 2025:
The main focus in 2025 wlll be on completln8 the external works detalled above whlle malntalnlng
our expanding educatlon pro8ramme. We plan to develop new classes across the re8lon and offer
pop-up events to stlmulate new Interest and make new connectlons. Plans are In place to dellver
more away day retreats In external venues across South Wales.
KMC Wales aims to continually expand Its volunteer base and attrart more people to enjoy both the
education and volunteer programmes. Gen-la Kelsang Khyenrab has been invited to teach In June
2025; we also plan to deliver a greater nurnber of events outside the centre, at attractlve external
venues, targeting new and larger audlences. The Welsh Dharma Celebration wlll be held at the
Centre In December 2025, wlth Kadam Brld8et Heyes, the UK Natlonal Splrltual Dlrertor of the NKr
8rantln8the blesslng Ernpowerment of Buddha Vajrapanl.
Further infonnatlon about all our events can be found at www.medltationlnwales.org.
FINANCIAL REVIEW
The charitfs financial position is good with total reserves at the end of the year of £382,399.
Reserves are descrlbed in note 4 and £1,000 of the total was restrlcted. The charity had a surplus
for the year of £3,272 and cash balances at year end of £39,799.
DIREcfoRS AND THEIR INTERESTS
Those who served as Dlrectors durln8 the year are listed on Pa8e 3 of thls report. The company Is
Ilmited by 8uarantee and as such has no share capltal.
Faye Johnson Is a Palllatlve Care Consultant who has been a Buddhlst for many years.
Kelsang DrolJan8 Is the ex-offlclo Dlrertor and also serves as the Admln Dlrector at Kadampa
Meditation Centre London. She has been a Buddhlst for twenty nlne years. As above she stepped
down In February 2024.
Kelsan8 Phacho8 Is the new ex-offlclo Dlrector and also serves as the Admln Dlrector at
Madhyamaka Kadampa Medltation Centre.
Deborah Bence has been a lon8 Standing member of KMC Wales and has previously served as
Education Programme Co-ordinator. She has been a Buddhist for over twenty years.

Kadampa Meditation Centre Wales Annual Trustees Report 2024
lan Kavanagh (Company Secretary) works as a support worker and has been a Buddhlst for el8hteen
Years.
STATEMENT OF TRUSTEES. RE5PONSI8ILITIES
The charltytrustees (who are also the dlrectors of the Charlty for the purposes of
Company law) are responslble for preparln8 a trustees, annual report and flnanclal statements In
accordance wlth appllcable law and Unlted Kln8dom Accountlng Standards (Unlted Kln8dom
Generally Accepted Accountlng Practlce). Company law requlres the charlty trustees to prepare
financial statements for each year whlch 8lve a true and falr vlew of the state of affalrs of the
charltable company and of the Incomlng resources and appllcatlon of resources, Includlng the
Income and expendlture, of the charlty for that perlod.
In preparlng the financlal statements, the trustees are requlred to:
• select sultable accountln8 pollcles and then apply thern conslstently;
observe the methods and prlnclples In the Charltles SORP;
• make judgements and estlmates that are reasonable and prudent;
state whether appllcable UK accountln8 Standards have been followed, subject to any
material departures dlsclosed and explained In the financlal statements;
prepare the financlal statements on the 8oln8 concern basls unless It Is Inapproprlate to
presume that the charlty wlll contlnue In buslness.
The trustees are responslble for keeplng proper accountlng records that dlsclose wlth reasonable
accuracy at any tlme the flnanclal posltlon of the charlty and to enable thern to ensure that the
finanaal staternents comply wlth the Companles Att 2006. They are also responslble for
safeguarding the assets of the charfty and the group and hence taklng reasonable steps for the
prevention and detectlon of fraud and other Irregularitles.
Approved by the Board
.Slgned........

Kadampa Medltatlon Centre Wales Annual Trustees Report 2024
Independent Examlner's Report
To the Trustees of Kadampa Medltstlon Centre. Wales
Th15 55 3 report on the accounts of Kadampa Medltatlon Centre Wales for the year ended 31
December 2024, whlch are set out on pages 10 to 14.
Respertlve responslbllltles of trustees and ex8mln•r
The charlty's trustees are responslble for the preparatlon of the accounts. The charlty's trustees
consider that an audlt Is not requlred for thls year under sectlon 144 of the Charltles Act 2011 (the
Charltles Act) and that an Independent examlnatlon Is needed.
It Is my responslblllty to:
examlne the accounts under sertlon 145 of the Charltles Art,
to follow the procedures lald down In the general Dlrectlons 8lven by the Charlty
Commlsslon (under sectlon 145{5) (b) of the Charltles Act), and
to state whether partlcular matters have come to my attention.
Basls of independent examlnerfs report
y examination was carried out In accordance wlth relevant general Dlrectlons of the Charitles
-ommission. An examlnation includes a revlew of the accounting records kept by the charlty and
omparison of the accounts presented wlth those records. It also Includes consideratlon of any
Jnusual items or dlsclosures In the accounts, and seeklng explanatlons from the trustees concernlng
Iny such matters. The procedures undertaken do not provlde all the evldence that would be
equired in an audlt, and consequently no oplnlon Is 8lven on whether the accounts present a "true
Ind fair view..
rKlependent examlner's statsment
i the course of my examlnatlon, no matter has come to my attentlon:
l. whlth gives me reasonable cause to belleve that In any materlal respect the requlrements:
o to keep accountlng records In accordance with Settion 4411) (a) of the 2005 Act and
Regulation 4 of the 2006 Accounts Regulatlons
o to prepare accounts whlch accord wlth the accountlng records and comply wlth
Regulatlon 8 of the 2006 Accounts Re8ulatlons have not been met, or
2. to whlch, In my oplnlon, attentlon should be drawn In order to enable a proper
understandlng of the accounts to be reached.

Kadampa Meditation Centre Wales Annual Trustees Report 2024
Sl8ned
Date
AlSstalrJenklns
14 Shlels Drlve, Fllton. Brlstol, 8S32 8EA.
10

Kadampa Medltatlon Centre Wales Annual Trustees Report 2024
IA Company Llmltèd by Gu•rnnte• not havlng a Shar• Capltall
STATEMENT OF FINANCIAL ACTIVITIES
Forthe year ended 31 December, 2024
2024
2023
Resirtcled UThrnslrfcled
Tdal
3,831
11,623
84,053
99,507
6,831
11.623
84,053
11.857
2.964
Gr•nt lfteune
Charft8ble •etl4tles
Tol•l IrKom•
102,507
96,784
Exp•n¢Jtur• on:
ChaTit•tAe actiiities
CXh•r
8.749
gJ,211
275
90,486
98.162
225
8,749
Totsl EKp•ndlts•
99,235
98,387
Il•t (E¥p•rNI) I Ineom• for th• Yoar
RXOIKIUATION OF FUNDS
lknrestrfcted fvnds
Restrfd¢d I￿￿ty> Funds
372.378
6,749
380.731
379,127
380,731
(EXWM) l knctyne the Y
3,272
(1,603)
F￿￿15 Carrf•d Forward
379 127
The accompanying notes on pages 12- 14 form part of these finandal statements.
11

Kadampa Medlt8tlon Centre Wales Annual Tru8tee8 Report 2024
IA Ctynpny Llmft•d by Gu•rnnt•• Iiot a Sh•rn Capftal)
BALANCE SHEET
As at 31 December, 2024
2024
Nol••
Unreglrf¢t•d
Fundj
Unregtslcled
Fwd*
X& AS$Ers
T•ngWe Agsets
022.185
570.764
(a%h at Bank
,799
221
Sti¢k
42,121
40,453
IELYT(XtS - Arno￿￿ du• wlthln OM y•ar
IET CiIiR84T ASSEfs i fvlABILITIES)
59,602
607.795
LTrEtXTCIIS - Am04mts due after one year
Personal Loans
Irp dthelownefrt lo
B•nk L￿%
15.500
137,731
89,731
277,204
IEf A88£TS TK CIL4RITY
379 127
Lknfestsicted Funds
Restn'cted (prwy) Ftsnds
381,399
372,378
TOTAL CHARITY FIJ
379 127
The accompanylng notes on page8 12 -14 form part of these flnandal Statements.
For the yew ending 31 December 2024, the company was endtled to exemptlon from audlt under se(Xlon 477 01 the
Companles A(a 2006. The trustees have prepared accounts In accordance Viith sedlon 398 of the Companles
Ad 2006 and $eclion 138 01 the CharlU88 Act 2011. These accounts are prepared In accordance with the spedal
provislons ol Part 16 of the Companles Acl relatlng to Small companles and constitute th8 annual accounts requlred
by the Companies Acl 2006 and arè for cJrcul8tlon to members of the company.
Approved by the board:
Namelposltlon
Slgned .
12

Kadampa Meditstion Centre Wales Annual Trustees Report 2024
IA Company Umlt•d by Gu•rnnte• not havlnq a Sharn Capltal)
NOTESTO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
a) B•sls of pre￿￿tIon
The èccounts are prepared under the hlstorlcal cost conventlon.
The financial statements have been prepared In accordance wlth Accountlng and Reportln8
by Charitles: Statement of Recommended Practlce appllcable to charltles preparln8 thelr
accounts in accordance wlth the Flnanclal Reportln8 Standard for smaller Entltles
published on 16107114, the Flnanclal Reportlng Standard for Smaller Entitles (effectlve
January 2015) and the Companles Act 2006. Assets and Ilabllltles are Inltlally recognlsed at
hlstorical cost or transattion value unless otherwlse stated In the relevant accountlng
poliry notels).
b) Fund Accountlng
Unrestricted funds are avallable for use at the dlscretlon of the Trustees In furtherance of
the general objettives of the charlty and whlch have not been designated for other
purposes.
The rest￿cted fund represents income and expenses wlth restrlctlons relatlng to Improvln8
the freehold property used by the charity.
c) Income
Income is Included In the Statement of Flnanclal Actlvftles when the charlty Is entitled to
the income and the Income can be quantlfied wlth reasonable accuracy.
Grant Income Is accounted for on an accruals basls; and shown In the financlal statements
when the charity earns the uncondltlonal rlght to funds.
Varlous forms of voluntary Income are recelved by way of education, donatlons and
fundralslng artlvitles. These are Included In full In the statement of Financial Activities
when recelved.
13

Kadampa Medltatlon C6ntr6 Wale8 Annu81 Tru8tee8 Report 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
ACCOUNTING POUCIES (Cont'd)
d) Expendlturn
Expendlture Is Included In the Statement of Flnanclal Attlvltles on an accrual basls as
liablllty Is Incurred, Includlng Irrecoverable VAT.
Charltable expendlture comprlses those costs Incurred by the charlty In the dellvery of Its
ctlvlties. both costs dlrertly attrlbutable and Indlrect support costs.
Governance costs Include those costs assoclated wlth meetlng constltutlonal and statutory
requirements, prlnclpally accountln8 and AGM expenses.
e) T•nglble Flxed Assets and Depreclatlon
Tangible fixed assets are stated at cost less accumulated depreclatlon, where approprlate.
Depreaation Is provlded at rates calculated to wrlte off the cost less estlrnated resldual
value of each asset over Its expected useful Ilfe, as follows:
Furniture & Fittln8S
Property Improvements
20% on cost stral8ht Ilne
IO% on cost stralght Ilne
Assets below £250 and grant funded expendlture are not capftallsed, but wrltten off
withln expenses. The Trustees do not belleve any assets are Impalred and do not carry out
an Impairment revlew.
14

Kadampa Meditatlon Centre Wales Annual Trustees Report 2024
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2. FIXED ASSETS
Frn•h)Id l•rwJ
Proporty
& Bull(1n￿ ImpDwment8
FIx￿rnI &
Flttlw•
TOTAL
N8t look 3111 ¥20ZJ
531,883
38,717
070,784
2,110
61,707
-9.831
-10,286
Nèt IK>ok value 3111212024
531,883
1,819
622,186
3. CREDITORS- loan
The amounts falling due wlthln one year and after more than one year Include:
a commerclal bank loan secured on the freehold property. Interest on thls loan Is Included In
the profit and loss account and
a non-commerclal development loan (ITS development) whose repayment terms are flexlble,
Interest free and unsecured
personal loans from members and Indlvlduals whlch are Interest free and unsecured
Other Creditors within one year Includes rent bonds, amounts due back to tenants upon satlsfactlon
of the departure criterla.
4. RESERVES
Opon Balanc
Income
Expenses Tran8tsrn
Closo Bala
LhYestrfct•d
372.378
90,488
381.399
Restrfcied (￿pertY
Im￿D￿ne￿9}
8,749
8,749
TOTPL
379,127
101607
91235
The restrlrted reserve represents monles yet to be spent on property Improvements.
S. SHARE CAPITAL
The Company Is limlted by guarantee havlng no share capltal.
15

Kadampa Meditation Centre Wales Annual Trustees Report 2024
STATEMENT OF Income and Expendlture
Fty theyw •ndod 31 D•¢*nb•r, 2024
Tc*al
Funds
Tc¢al
Funds
Inc(me:
1831
11,857
(>art Incun•
14454
14¥21'
C￿lI1￿LIe acllvllles
Eth¢4tic
A¢c(Ynmodati
Cth•r fjncl Shcp)
39,417
41,857
37,621
41167
84053
81,963
TLtal IrKome
1tr4507
EXper￿tye:
C*aritth a¢tTrities
E(*Jcati
Offwings & E￿at[c￿%
sh￿ st(￿k
S￿ingIeld Hkwse UpkeeplMaintenan¢•
Sryingleld H￿j$8 AccL¥nM￿IatI
Dyociation
sP￿SL¥ShIP
Sun(ty l Athiinlstratic
Bank chwg85 1 intwost
Accwrtancy
14136
14191
7.445
1,870
11,024
1q572
14219
10,298
11,712
4832
225
11,108
14402
10,288
I7.￿1
10,489
275
T(tsl Expenditsire
Net (Expen*) I Income for Ihe Year
riAs ￿1& fwm•rngThrt n*1 b•4ubny7t￿ eAt•mpffy
16