Kalpa Bhadra Buddhist Centre A company limited by guarantee Annual Trustees Report and Financial Statements 30th November 2021 Regist8r8d chanty number 1048944 •AB5QV30&• IW0612022 COMPANIES HOUSE Reglstered company number 03062382 In England and Wales
Kalpa Bhadra Buddhist Centre Annual Trustees Report Index Page Report of Ihe Trustees Independent examiner's report Statement of Financial Activities Balance Sheet Notes to financial statements 9-11
Kalpa Bhadra Buddhist Centre Annual Trustees Report The trustees submit thelr report and un-audited financial stalements of the company for the year ended 30 November 2021. MANAGEMENT AND ADMINISTRATION DIRECTORsrrRUSTEES Mrs Renee Rickard Mr Ivor Slewart Ms Jennifer Andrews COMPANY SECRETARY Mrs Renee Rickard REGISTERED OFFICE 34 Mostyn Avenue, Llandudno, Conwy, LL30 1 YY REGISTERED NUMBER 03062382 CHARITY NUMBER 1048944 STRUCTURE & GOVERNANCE GOVERNING DOCUMENT The organisation is a company limited by guarantee and a registered charity. The company's governing documents are its Memorandurn of Association and Articles of Association. RECRUITMENT ANDAPPOINTMENT OF NEWTFIUSTEES The Directors of the company are also charity trustees. The Trustees relire by rolation and are eligible for appointrnent for up to Ihree years maximum. Any member who wishes to stand may do so. OBJECTIVES AND ACTIVITIES The Centre oflers classes and courses in mediiation and Kadampa Buddhism in Llandudno and across North Wales which are open to anyone. It also provides facilities for in-depth study, and specific Buddhist subjects and practices. BACKGROUND The Centre is part of the New Kadampa Traditton and Intemational Kadampa Buddhist Union, a network of centres throughout the world that practice. Kadampa Buddhism founded by Venerable Geshe Kelsang Gyatso. The Centre is run by volunteers and dedicated to public benefit. The Centre ovffls a residential propety in Craig y Don. Llandudno which provides accommodation for up to 9 residents wilh common areas and a kitchen. The main sources of income are from courses. classes and rent paid by residenls. The centre runs a membership scheme relerred to as 'Centre Card, which regular attendees can sign up for for a monthly fee to cover most classes and courses. Weekly classes are offered in Llandudno, Bangor, Rhyl and Conwy, together with 'pop up, events at various locations. All classes and events are open to everyone irrespective of age, gender, race, or religion. and teach how io meditate and put 8uddha's teachings into practice to
Kalpa Bhadra Buddhist Centre Annual Trustees Report improve daily life. ACHIEVEMENTS AND PERFORMANCE Classes continue to be well attended wilh a mix now of in-person and online with classes and events most days of the week, including weekends. Since lockdown ceased in Wales we have re- started weekly classes in Llandudno. Bangor Rhyl and Conwy and they have been well attended. The number of Saturday courses and weekend retreats being offered by the centre increased during 2020 and 2021 and these courses have been very popular with people travelling from other parts of the country to attend. A small number of social events were held and functioned to help rebuild the in-person community post lockdown. We ran a successful meditation challenge to encourage new attendees and new teachers to develop their teaching skn'lls. PLANS FOR 2021 AND 2022 We continue to work lo strengthen our weekly classes and occasional events. programrne throughout North Wales. We also plan to offer welsh language meditation classes in conjunction with our sister ntre in Swansea via Zoom. Our long term goal is to find a suitable commercial space close to Llandudno and surrounding towns to enable a larger meditation room with modem facilities. FINANCIAL REVIEW The charity's financial position is good with total unrestricted reserves at the end of the year of £230,745. These reserves are held to meel Ihe charity's objectives and to assist with the new building costs. FINANCIALOUTCOME The company had a surplus for the year of £10.677 and positive cash al bank at year end of £30,225, available to service the charitable objectives in the forthcoming period. 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. DIRECTORS AND THEIR INTERESTS Those who ser4ed 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.
Kalpa Bhadra Buddhist Centre Annual Trustees Report STATEMENT OF TRUSTEES. RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS The charity trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing a trustees. annual report and financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the stste of affairs of the charitable company and of the incoming resources and appIltiOn of reSoUrs. including the income and expenditure, of the charity for that period. In preparing the financial statements. the trustees are required lo: select surtable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial ststements., prepare the financial ststements on the going concern basis unless 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 ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hen taking reasonable 'steps for the prevention and detection of fraud and other irregularities. Approved by the board Name......... Renee Rickard......................... Signed . Date . .2610652022............................
Kalpa Bhadra Buddhist Centre Annual Trustees Report Independent Examiner's Report to the Trustees of Kalpa 8hadra 8uddhlst Centre This is a report on the accounts of Kalpa Bhadra Buddhist Centre for the year ended 30 November 2021, which are set out on pages 7 to 11. Respectlve responslbililies of trustees and examiner The charty's truslees are reswnsible for th8 preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the a¢¢ounts under section 145 01 the Charities Act. to follow the procedures laid down in the general Directions given by Ihe Charity Commission (under section 145{5)Ib) ol the Charities Act). and to state whether partiwlar matters hav8 come to my attention. Basls of independent examlner's report My examination was carried out in accordance wtth 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 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 Irue and fair vievl.. Independent examlner's statement In the course ol my examination, no matter has corne to my attention: which gives me reasonable cause to believe thal in any material respect the requirements: to keep accounting records in accordance wtth Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2thJ6 Accounts Regulations to prepare accounts which accord with the accounting rerdS and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or to which. in my opinion. attention stsjuld be drawn in order to enable a proper understanding ol the accounts to be reached. Signed Date 3Q Alistair Jenkins 14 Shiels Drive, Fitton, Bristol.
Kalpa Bhadra Buddhist Centre Annual Trustees Report . Llmft STATEMENT OF FINANCIAL ACTIVITIES For the year ended 30 November, 2021 UnftriCted Unrestrict Funds Incom• from: oluntary income 4cts"viti85 for generatiNJ lun(ts Charitable activities 8.724 11.216 8.029 12.275 44.305 Total Incom• Expendltur• on". Charitable activities other 37.547 40,550 250 Total Expendltsre 37.772 Met {Expen8fr) I Incom• for th8 Year RECONCIUAnoN OF FUNDS Funds brought fLvward Unr6strict•J rthts 193.259 Not (Expense) I Income I the Ye 10,67T 23,8 Funds Carrf•d Forward
Kalpa Bhadra Buddhlst Centre Annual Trustees Report . The arxompanying noles pages 9 - 11 form part of these financial statements.
Kalpa Bhadra Buddhist Centre Annual Trustees Report BALANCE SHEET As at 30 November, 2021 2021 UnTtriC Funts Unre51ncted FU FIXED ASSETS rangible Assets 2W,000 CURRENT ASSETS sh at Bank stock
).225 28,202 1036 31,078 29.238 TOTAL ASSETS 3M.078 319.238 CREDITORS- Amounts due •ft•r one year Personal Loan5 Bank Loans NET ASSETS OF IHE CHARITY 230,745 FUNDS OF THE CHARITY LJnre51ricted Inecrfne Funds Ljnreslricted Builth"rwJ Fund 31.078 199e67 29,238 190.830 TOTAL CHAR17Y FUNDS 230.745
Kalpa Bhadra Buddhist Centre Annual Trustees Report The accompanying notes on pages 9- 11 forni part of these financia] ststrments. For the year ending 30 November. 2021 the company was enliued to exemptK)n from audit under section 477 of the Companies Act 2006 relating to small companies. The members have Th)t required the company to obtain an audit of its accounts for the year in accordance vth section 476 of the Companies Act 2006. The Directors (frustees) acknowledge their responsibility for complying wth the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the board: Renee Rid<ard .Director.............. Signed....................................... Date......26105122.......... Name & position . NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES a) Basls of Preparatlon The accounts are prepared under the historical cost convention. The financial statements have been prepared in accordance wth Accounting and Reporting by Charities: Statemenl of Recomrnended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published in July 2014, the Financial Reporting Standard for Smaller Entities (effective January 20151 and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 10
Kalpa Bhadra Buddhist Centre Annual Trustees Report b) Fund Accounting Unreslricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charty and which have not been designated for other purposes. The asset fund represents the trustees unrestricled interest in the freehold propety used by.the charity. c) Income Income is included in the Stalement Of Financial Activities when the charity 15 entitled to the income and the income can be quantified with re&sonable accuracy. Grant incorne is accounted for on an accruals basis; and shown in the financial statements when the charity earns Ihe unconditional right to funds. Various forms of voluntary income are received by way ol education, donations and lundraising activities. These are included in full in the Statement of Financial Activities when received. 11
Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (Cont'd) d) Expendlture Expenditure is included in the Statement of Financial Activities on an accrual basis as a liability is incurred, including irrecoverabje VAT. Charitable expenditu comprises Ihose costs inujrred by the charity in the delivery of its activities, both costs directly attributable and indirect support costs. Govemance costs include those costs associaled wtth meeting constitutional and statutory requirements, principally accounting and AGM expenses. e) Tangible Fixed Assets and Depreclatlon Tangible fixed assets are stated at cost less accumulaled depreciation, where appropriate. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over ils expected useful life. as follows: Fumiture & Fittings Property Improvements 20QA on cost straigm line 209A on cost straight line Assels below £250 are nol capitalised, but written off within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews. 12
Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES (CONTINUED) 3. CREDITORS- loan The amounts falling due after more than one year include a commercial bank k)an secured on the freehokl property. Interest on this loan is included in the profrt and loss account. They also include personal loans from members and individuals which are interest tree and unsecured. 4. RESERVES The unrestricted asset reserve represents the charity's interest in the mortgaged freehold property. 5. SHARE CAPITAL The Company is limited by guarantee having no share capital. 13
Kalpa Bhadra Buddhist Centre Annual Trustees Report STATEMENT OF Income and Expendituro For the year ended 30 Novemtjer, 2021 Unrestricla1 FurKIs Unrestricted Funds Income: DonatKms Fmyraisiro activities 8.724 11.216 8.029 12 275 19.940 Charitable aetlvfitles EducatiL Accommodati(xi 616 20.160 2.7 33.954 Total Ineom• EXndItUre. Chaniable activities Education Offerings & l)onaticms A(fvertisi Travel Shop stock Domestic l Maintene Lftilities sun I petty cash staff related expenses ¢harge5 1 interest 3.415 4.020 3,841 11.670 1,987 2.428 252 2.518 6.527 4.320 8.84T 2.541 37.522 Govemance costs Accountancy 250 250 Total Expendtture 37.7T2 N¢t (Ewse) I Income for the Year This rn)te is provided for Man8 rwl subnwtted extemlY 14