Kalpa Bhadra uddhist Centre A company limited by guarantee Annual Trustees Report and Financial Statements 31" December 2022 Registered charty number 1048944 Registered company numbeJ 03062382 In England and Wales AC8ZHCHK 011W2023 COMPANIES HOUSE A19
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Kalpa Bhadra Buddhist Centre Annual Trustees Report Index Page Report of the Trustees Independent examiner's report Slatement of Financid Activities Balance Sheet Notes to financial statements 9-11
Kalpa Bhadra Buddhist Centre Annual Trustees Report The trustees submit their report and unaudited financial statements of the company for the extended 13 month period ended 31 December 2022. At a board meeting on 12 November 2022, the trustees voted to chawe the year end date, which has been registered at companies house. MANAGEMENT AND ADMINISTRATION DIRECTORsrrRUSTEES Mrs Partricia Benn Mr Ivor Stewart Ms Jennifer Andrews COMPANY SECRETARY Mrs Renee Rickard REGISTERED OFFICE 34 Mostyn Avenue. Llandudno. Conwy. LL30 IYY 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 documenls are.its Memorandum of Association and Articles of Association. RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES The Directors of the company are also charity trustees. The Trustees retire by rotation and are eligible for appointment lor up to three years maximum. Any merrt)er who wishes to siand may do so. OBJECTIVES AND ACTIVITIES The Centre offers classes and courses in meditation and Kadampa Buddhism in Llandudno and across North Wdes 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 Tradition and Intemational Kadampa Buddhisi Union, a noOr1¢ of ccnlres throughoul the world that practice Kadampa Buddhisrn foundp.d hy Vp.np.rahle Geshe Kelsang Gyatso. The Centre is run by volunteers and dedicated io public benefit. The Centre owns a residenbal property in Ciaig y Don. Llandudno which provides accommodation for up to 9 residents with common areas and a kitchen. The main sources of income are from courses, classes and reni paid by residenis. The centre also runs a membership scheme referred to as 'CentTe Card. which iegular attendees can sign up for for a monthly fee lo cover most classes and courses. Weekly classes are offered in Llandudno. Bangor, Rhyl and Conwy, together with 'pop-up' events at various locations including Wrexham, si Asaph and Btews-y-coed. All classes and events are open to everyone irrespective of age. gender, race, or religion, and teach how to meditate and put Buddha's ieachings into PTaciice to improve daily life.
Kalpa Bhadra Buddhist Centre Annual Trustees Report AeHIEVEMENTSAND PERFORMANCE. Class and course attendance has continued to improve over Ihe last two years since'ihe. end ot.. the covid pandemic. We continue to offer classes and courses in Llandudno, Bangor, Conwy, Rhyl, Capel Garmon, neaT'St Asaph and iri Wrexham. We. have. held approximalely 200 classes.. and courses iri ihese. locations with an average allendance of 10-11 people at each class or course.during ihe calendar year 2022.. PLANS FOR 2023 AND 2024 We continue to work to. strengthen. our weekty classes and occasional events .programme throughoul North Wales. We plan to re-introduce.online classes..again',.Our long-.term goal is to find a suitable commercid space in, or cloce to Llandudno and aurrounding towna, to enable a larger meditation room with modern facilities. FINANCIAL REVIEW The charity's financial position is good with total unrestricted reserves at the end of the year of £234,432. These reserves are held to meet Ihe charity's objecu'ves and to assist with the new building costs. FINANCIAL OUTCOME The company had. a surplus for the 13 montkr-period of.£3.912. and positive cash al bank at year end of £14,768, available lo service the charitable objectsves in the forthcoming period. DIRECTORS AND THEIR INTEREST.S 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 capiial. 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.
Kalpa Bhadra Buddhist Centre Annual Trustees Report STATEMENT OF TRUSTEES. RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS The'charity trustees (viho are also the directors otthe Charity for the purposes of ccimpany law) are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and Unrted 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 state of affairs of the charitable company and of the incoming reSOurS and appliG9tion of resources, including the incomé and expenditure, of the char.ity for that peri(MJ. In preparing the financial statements. the trustees a required to= select suitsble 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 statements. prepare the financial statements 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 stalements comply- with the Companies Act 2096. They. are.. also respr)nsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the board Signed Date
Kalpa Bhadra Buddhist Centie Annual Trustees Report Independent Examiner's Report to the Trustee5 of Kalpa Bhadra Buddhist Centre This is a report on the accounts of Kaipa Bhadra.Buddh'ist Centre'for'the .13 month'penod'ènded 31 December 2022, which are Set out on pages 7 to l.l.. Respeclive responsibilities of trustees and examiTher The charity's trustees a reswnsible for the preparation of the accounts. The charity's trustees consider that an audit is not required lor this year under section 144 of the Charities Act 2011 (the Chartti'es Act) and that an independent examinaty.on is eded. It is my responsibility to= examine the accounts under section 145 of the Charities Acl. 10 follow the procedijres laid down in the general Diiections given by ihe Charity CommiJaion.(under' t.- section 145{5){b) of the chare5 Act). and . to State whether parlicular matters have come to my attention. 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 rerdS kept by the charity and a comparison of the accounts presented with those records. It also indudes consideration of any unusual items or disdosures in the a¢¢ounts. and seeking explanations from the trustees concerning any such mattprq. The procediire.s undertaken do not provide all the evidcncc that would be required in an audit, .and consequently no opinion is given on whether the accounts present a Irue and fair view.. Independent examiners statement In the course of my examination. no mattèr has come to my arrention.. which gives me reasonable cause lo believe ihat in any materi& respect the requirements: to keep accounting records in accordance b•Ath Section 44(1) (a) ot Ihe 2005 Act and Regulat"on 4 of the 2006 Accounls RegulatJ"ons io prepare accounts which accord with Ihe accounting records and comply wth Regulation 8 of the 2006 Accounts Regulations liqve not been met, ol to which, in my opininn. attention should be dravffl in order to enable a piopcr underaianding ot the accounts to be reached. Signed Date 1710712023 Alistair Jenkins 14 Shiels Drive. Filton. Bristol.
Kalpa Bhadra Buddhist Centre Annual Trustees Report (A Company Limitc.d by Guarantce not having a Share Capital.) STATEMENT OF FINANCIAL ACTIVITIES For the 13 Month ended 31 December, 2022 .UnrEStricted Fund5 Incom'e'from: 'Voluntary inc¢me AclNrf(ies lor generatlng lurllts Charitable activities. 1,067 11,216 Totsl Income 41.171 E¥pendltuie on: 'Chaiitable acli¥ittes 43.032 37.774 T¢)tsl Expend61uwe Net (Expensel I Incoffle foT the Year 3.914. 10.4S) RECOPlaLIATION OF FUla)S Funds loThYard 230.518 Net (Exp¥¢e) I Incryne for the Year 3.914 10,450 FuTrd5 Canied For The accompanying notes on pages 9 - 11 form pan of these fi'nancial statements.
Kalpa Bhadra Buddhist Centre Annual Trustees Report (Companv Llrnited bv Guarantee rHrt having a Share Capital) . BALANCE SHEET As at 31 December, 2022 2022 Unfestricled . Punds FIXED ASSETS. 290.000 CURRE1 AS5ET5 Cash at Bank Stock 14.768 600 15.368 31.078 TOTALA5SETS 317,859 . 321,078 CREDITORS- Arnounts du• •ftw one y Bank Lo 83.427 9).333 NET ASSETS.OF THE CTri4RITY 230.745 FUPIDS OF THE CIIAIU Unrestricted Imcome Funds Unrests5cted BuiELng Fvnd 15.368 219.064 31.078 TOTAL CIIARifi FUMDS - 230,745 The accompanwng notes on pages 9- 11 fomi part of these finanaal statements. For tho perioj ending 31 Decernber. 2022 thè wnpany wa5 entit to exemptth audrt uThl•rsecon 477 of the Companies Aet 2006 relating to small o)mpanies. The merntrws have mt requfred t company to Obta arn audit of its a0Unts for tme year in accordance wth section 476 of the CornpanEs Act 20(fi. The Directors ITwsteesl acknoWge their responsiÈ41ity lor a)mplyiNJ with the requiremènts of Act pect to accountin9 records and for the ppara.On of a¢DJunts. These acnts habE teen wpar•d in ac£cfdaneé with tr¢ provisions applicable to compans $jeCt to the small compan*s regme. Approved by the Lv3ard'. Name & position . Signed......
Kalpa Bhadra Buddhist Ccntre Annual Trustees Report . NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES a) Basis of Preparation The accounts are prepared under the historica cost convention. The financi stalements have been prepared in accordance with Accounting and Reponing by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reports-ng Standard for Smaller Entitses published in July 2014. the Financial Reponing Standard for Smaller Entities (effective January 2015) and the Companies Acl 2006. Assets and liabilities are initially recognised at hislorical cosl or transacts'on value unless otherwise stated in the ielevant accounting policy notes. b) Fund Accounting Unresiricted funds are available for use at the discreiK)n of Ihe Trusiees in funherance of Ihe gener objectives of the charity and which have not been designated for other purposes. The assel fund represents Ihe trustees unrestricied interest in the freehold property used -by the charity. ) Income Income is included in the Statement Of Financial Activities when the charity is entitled to Ihe income and the income can be quantified with reasonable accuracy. Grani income is accounted for on an accruals basis.. and shown in the fi'nancial siatemenis when the charity earns the unconditional righl to funds. Various forms of voluntary income are received by way of education, donations and fundTaising aciivitses. These are included in full in the Stalement of Financiaj Actiiiities when received.
Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (Cont'd) d) Expenditure Expenditure is included in the Statemeni of Financial Aciivities on an accrual basis as a liability is incurred, including irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in the deliyery'of its activits'es, both costs direclly attributable and indirect support costs. Governance cosls include those costs associated with meeting constitutional and siatuiory requirements, principally accounung and AGM expenses. e) . Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at cost less accumulated depreciation, where appropriate. Depreciatson is provided at rates calculated to write off the cost less estimated residual vdue of each asset over its expected useful life, as follows: Furniture & Fittings Propety Improvements 20% on cost straight line 20% on cost straight line Assets below £250 are not capiialised, but written off within expenses. The Trustees do not believe any assels are impaired and do not carry out irrpairment reviews. io
Kalpa Bhadra Buddhist Centre Annual Trustees Report . NOTES (CONTINUED) 2. FIXED ASSETS Fixed Assets Piopety Impro¥emwts TOTAL COST As al 1112Q021 Additlons As at 31112r2022 2W.000 290,000 14.551 14.551 .14.551 290.000 OEPREaATION As al 111J2021 OEPRECIATION As * 3111W2022 2.0 2.060 NET PA)OK VALUE As at 11.12Q021 290.000 As at 3111¥22 3. CREDITORS - loan The amounts falling due after more ihan one year include a commercial bank loan secured on.the freehold property. Interest on this loan is included in the profit and loss account. They also include personal loans from members and individuals which are inierest free and unsecured. 4. RESERVES The unrcJtricted aJJet reserve represents the charity's interest in the mortgaged freehold propety 5. SHARE CAPITAL The Company is limited by guaranlee having no share capital. li
Kalpa Bhadra Buddhist Centre Annual Trustees Report STATEMENT OF Income and Expenditure For Ihe riod erxled 31 Decemiw. 20 2022 202t Unrestricted IncoTlle: 9.447 Fundraising adi¥Ries 10.514 19,940 14.917 21210 Accornmodation SFW i Other 20.160 733 28,509 Totsl Income. 41.171 48,449 Ewditure: EdLECation olleri & DoTral Ath8rti5if Deweciaiion Travel Shop stock . t>)me5tic l MahenarKe LftTrfrtie5 SvrKhy I pelty cash Staff related PenseS Bar& charye5 1 interesl l739 6.376 1065 2.060 1.910 11.670 1,9B7 252 2..S16 6.$27 3.816 9.220 2.891 8.5% 43.007 37,749 250 Total Expenditrj Pknt Fxpensel I Incorne lor the Y 3.914 10.450