Kalpa Bhadra Buddhist Centre A company limited by guarantee Annual Trustees Report and Financial Statements th 30 November 2020 Registered charity number 1048944 Registered compary number 03062382 In England and Wales 67P81R¥ 0&06W21 COMPANIES ￿oUsE #237 14scIJ,•1616q eouJbgiJA uriiiipGi 030e5395 Ilj EtsDi¢Ji)q gbjq I,JlglG2 L46ai?16LGq rii¢oiJ uriuTPGL TO¥8L)## 30,,14OA6WPGL 5050 vuungi IL1121662 L46boL( guq E!ugUc!912[￿a￿6uj6￿f￿ ' COLub9uA I!W116q pA angLgu166 p[;Joioi Kalpa Bhadra Buddhist Centre Annual Trustees Report Index Page Report of the Trustees 3-7 Independent examiners report Statement of Financial Activities Balance Sheet 10 Notes to financial statements 11-12 Kalpa Bhadra Buddhist Centre Annual Trustees Report KALPHA BHADRA BUDDHIST CENTRE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2020 The Trustees, who are also directors for the purpose of company law, have pleasure in presenting their report and the unaudiied financial statements of the chariry for the finan- cial year ended 30 November 2020. REFERENCE AND ADMINISTRATIVE DEfAIIS Re￿8trred Charity Name Kalpha Bhadra Buddhist Centre Company Registration Number 3062382 Registered Charity Number 1048944 Registered Office 34 Mostyn Avenue. Llandudno, LL30 IYY The trustees who served the charity during the period were as follows: Ivor Stewart Fiona Farrell Lyn Williams (resigned 24 July 2020) Renee Rickard (appointed 24 July 2020) Accountant Alistair Jenkins FCA Unity Trust Bank Kalpa Bhadra Buddhist Centre Annual Trustees Report Governing Document The Charity is constituted as a company limited by guarantee under the Companies Act and governed by its memorandum and Articles of Association and is also a registered charity. The charity was incorporated 30 May 1995 and the Memorandum and Artides of Association were amended by resolution on 07 March 2021. Those who served as Direc- tors during the year are listed on Page 3 of this report. The company is limited by guaran- tee and as such has no share capiial. Trustee Recruitment and Training Trustees are recruited from within the centre or from other similar centres so that they have knowledge and understanding of the charity's aims and workings. To be elected or appointed as a Trustee. the nominee must be a member of the charity and are elected by the members at the Annual General Meeting or by the trustees when the need arises ac- cording to the Memorandum of Association. Each new trustee is guided by the current trustees and other members of the organisation. in particular the Administrative Director and Resident Teacher. who together have broad experience of the organisation. Related Charttle8 The charity is a member of the New Kadampa Tradition- International Kadampa Buddhist Union ("NKT-IKBU"), which is made up of many centres throughout the world with the same objects, however they are all independent charilles linked only by their ob- jects and there is no financial dependency although funds may pass between centres to fulfil aims and objectives. OBJECTIVES AND ACllVITIES Objects The objects of the chariry are to promote the Buddhist faith under the spiritual guidance of the elecied Spiritual Director of the NKT-IKBU principally through activities of teach- ing, study, practice and the observance of tnoral discipline all within the Mahayana Bud- dhist Tradition of Atisha and Je Tsongkhapa. as Eaugli( by Venerdble Geshe Kelsang Gy- atso. the founder of the NKT-IKBU through the continuous implementation of the three NKT study programmes:_the_General Programme, Foundation Programme and.Teacher- . Training Programme. Kalpa Bhadra Buddhist Centre Annual Trustees Report Aim8 and Activities The charity aims to provide facilities to enable students to study, practice and observe the moral discipline as set out in the objects and this has been achieved so far by establishing the centre at Mostyn Avenue. Llandudno. The charity also holds dasses across North Wales to provide teachings and insight to whomever wishes to attend. Volunteers The charity has volunteers both from the local community and the residents at the centre, which are essential for the running of the charity and are involved in all aspects of the charity. We also offer opportunities to volunteer in the wider community and welcome occasional working visiiors. Public Benefits In exercising their powers and duties, the trustees have had due regard 10 the guidance on public benefit published by the Charity Commission. They believe that the work of the charity in promoting the Buddhist faith has dearly identifiable benefits. The charity be- lieves that there are three important public benefits to promoting the Buddhist faith: to help people to develop their wisdom, to cultivate a good hearu and to maintain a peaceful mind. If we do not strive to develop our wisdom, we will always remain ignorant to the true nature of reality. Everyone wishes for happiness, but our ignorance of reality leads us to engage in non-virtuous actions, which in ti]rn are the main cause of all our suffering. Further, if we do not cultivate a good heart towards othe￿, then our selfish motivation de- stroys the hamiony of our relationships with others. We then have no peace. and no chance to gain pure happiness. Without inner peace, outer peace is impossible, both per- sonally and throughout society. Benefit to the Public The charity offers regular courses of instruction in Buddhist philosophy, psychology and meditation, bringing personal and social benefit. These courses are accessible to the pub- lic for modest fees. The more advanced courses of instruction require a greater commit- ment of personal time from participants. The charity also maintains a year-round pro- grarnme of services of prayer and meditation, again open to the public. Kalpa Bhadra Buddhist Centre Annual Trustees Report ACHIEVEMENTS AI¥D PERFORMANCE The charity continued to provide Kadam Dharnia to the people of North Wales through the General Programme and Foundation Programme. As of the beginning of March 2020, there were an average of 5-6 weekly dasses and 2-3 weekend events each month in Llandudno and throughout North Wales. The charity was required by law to close its bookshop and cafe in March 2019 due to the emerging coronavirus pandemic. Amid public heath concerns and. limited space and ven- tilation in the meditation room. the charity chose to move all activities online to safeguard the welfare of smdents, teachers, managers and residents at the centre. Overall during the period covered by the report, there was a noticeable decrease in regular attendees of the meditation centre, possibly due to lack of ability, or disinclination, to join online meditation classes. This was partially offset by new attendees discovering the cen- tre and joining online classes across North Wales. Despite loosing revenue from the cafe. bookshop and in-person attendance, the centre has been in receipt of grants from the Welsh Government to a value of £12.000 during the pe- riod covered by this report which. combined with careful financial management. has helped ￿aintain the charity and cover costs during the unusual times caused by the pan- demic. It is hoped the charity will soon be able to offer in-person activities once again following Welsh national guidelines for places of worship. The trustees note the 2020 AGM was held by Zoom following UK government guide- linés. FINANICAL REVIEW The financial position in 2020 showed a SUTplus of £23.809 compared with £20.280 in 2019. The chariry's financial position shows total unrestricted reserves at the end of the year of £220,068. These reserves are held to meet the charity's objectives and to assist with the new building costs. Kalpa Bhadra Buddhist Centre Annual Trustees Report STATEMENT OF TRUSTEES, RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS The charity Irustees (who are also the directors of the Charity for the purposes of . company law) are responsible for preparing a trustees. annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice). Company law requires 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 application of ￿soUrces, including the income and expenditure. of the chanty for that period. In preparing the financial statements, the trustees are required to.. • select suitable accounting policies and then apply them consistently,. obseNe the methods and principles in the Chartties SORP. make judgements and estimates that are reasonable and prudent state whether applicable UK accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements., • prepare the financial statements on the going concern basis unle&s it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply wrth the Companies Act 2006. They are also responsible for safeguarding the. assets of the charrty and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the board Name F&NÉE..QIcK.t¥dQ . . Signed Kalpa Bhadra Buddhist Centre Annual Trustees Report Independent Examinefs Report to the Trustees of Kalpa Bhadra Buddhist Centre This is a report on the accounts of Kalpa Bhadra Buddhist Centre for the year ended 30 November 2020, which are set out on pages 9 to 12. Respective responsibilities of trustees and examiner The charitys trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charits'es Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility lo-. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the generd Directions gNen by the Charity Commission (under section 145(5)(b) of the Charities Act), and io state whether particular matters have come to my atteniion. Basis of independent examiner's report My examination was carried out in accordance with relevant general Directions of the Charities Commission. An examination includes 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given on whether the accounts present a '*rue and fair view". Independent exambner's statement In the course of my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Seclion 44(1) (a) of the 2005 Act and Regulation 4 of the 2c￿6 Accounts Regulations to prepare accounts which accord Y￿th the accounting re￿rdS and comply with Regulation 8 of the 2006 Accounls Regulations have not been met. or to which, in my opinion, allentii)n should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Date Alistair Jenkins 14 Shiels Drive, Filton. Bristol. Kalpa Bhadra Buddhist Centre Annual Trustees Report irnited b Guarant t havin STATEMENT OF FINANCIAL ACTIVITIES For the year ended 30 November, 2020 2020 2019 Not•5 Unr•strieted Funds Funds INCOMING RESOURCES Incoming resources from generated fU￿lS Vduntary income ActNth"e5 for generatsrwJ fvrxls 8,029 12.275 10.984 20.304 12,983 IncomirvJ resources from charrtable aclTvths: 52.405 52.405 66,388 Total Incoming Resources RESOURCES EXPENDED Chairtabie activthes Govemance costs 250 250 Total Resources Expended 46,108 N•t Incoming I Ioutgoing) Re59ur¢•s for the Year £20.280 RECONCILIATION OF FUNDS Funds Brought Forward Unrestricted futNJ 196,259 196.259 Funds"Carri•d"Forward -220.068 196,259 The accompanying notes on pages 11- 12 form part of these financial statements. Kalpa Bhadra Buddhist Centre Annual Trustees Report Acom Limited b Guarantee not vin a Share C BALANCE SHEEr As at 30 November. 2020 2019 FIXED ASSETS Tangible Assets 290.1N)O CURRENT ASSETS Cash at Bank in hand Slock 28.202 17,2( 629 29.238 17,835 TOTALASSETS 319238 307.835 CREDITORS-Amounts falling due after one year Personal Loans 8ank Loans 5,OOD 1[￿,576 99.170 99.170 111.576 NET ASSETS OF THE CHARIIY 220.068 196.259 THE FUNDS OF TrIE CHARITY Unrestricted Income Funds Unrestricted Buildin9 Fund 29,238 1￿.830 12,835 183.424 TOTAL CHARITY FUNDS 196.259 The accompanying notes on pages 11- 12 fomi part of tPese financial statemerrts. For the year ending 30 November. 2020 thmpany wa$ ents1￿d to exempti￿ from audrt under section 477 of the Compwie8 Acl 20C6 relating to srnall c4)mpanies. The members have not required the company to Obta￿ an audit of its accounts for the year in accordan￿ wilh seth.on 476 of the Companies Aca 2C(6. The Directors ITruslees) ackrywledge their re$rth$ibilty for o)mptyin9 wilh lh• requnments ofthè with re5Fec# to aceounting records and for th& p￿ParatiOn of 8CCOUnts. These accounts have been prepar&J in ac£ordarKe thith the provisions applieable to C*)rnpanies $ubjerA to the small ¢ompanie$ regi￿. Approved by the board.. Name & postioncR,dZZG*#3RO..OiRE£f4XSigned .. io Date 2*121 Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES TO THE FINANCIAL STATEMENTS 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 Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published in Juty 2014. the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initial recognised at historical cost or transacts'on value unless otherwise stated in the relevant accounting policy notes. b) Fund Accounting Unrestricted funds are available for use at the discretion of the Trustees in lurtherance of the general objectives of the charity and wthich have not been designated for other purposes. The asset fund represents the twstees unrestricted Inte￿$t in the freehold propety used by the charity. c) Income Income is included in Ihe Statement Of Financial Activities when the charity is entitled to the income and the income can be quantrfied with reasonable accuracy. Grant income is accounted for on an accruals basis: and shown in the fi'nancial statements when the charity eams the unconditional right to funds. Various forms of voluntary income are received by way of education. donations and fundraising activities. These are included in full in the Ststement of Financial Activities when received. li Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES {Cont'd) d) Expenditure Expenditure is included in the Statement of Financial Actniities on an accrual basis as a liability is incurred. including irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in the deltvery of its activities. both costs directty attributable and indirect support costs. Governance costs include those Costs associated with meeting constitutional and statutory requirements, principally accounting and AGM expenses. e) Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at cost 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: Furniture & Fittings Property Improvements 20% on cost stralght line 2096 on cost straight line Assets below £250 are not capitalised, t￿t written off within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews. 3. CREDITORS - loan The amounts falling due after more than one year include a commercial bank loan secured on the freehold propety. Interest on this loan is included in the profit and loss account. They also include personal loans from members and individuals which are interest free and unsecured. 4. RESERVES The unrestricted.asset reserve.represents the.chartty's.interest-in the mortgaged freehold property.- 5. SHARE CAPITAL The Company is limited.by"guarantee"haNfjng"no"share"capFtal.