## **Kalpa Bhadra Buddhist Centre**
## A company limited by guarantee
Annual Trustees Report and Financial Statements
## 31[st] December 2023
Registered charity number 1048944
Registered company number 03062382 In England and Wales
## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
|**Index**|**Page**|
|---|---|
|Report of the Trustees|3-5|
|Independent examiner's report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to financial statements|9 - 11|
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
The trustees submit their report and unaudited financial statements of the company for the year ended 31 December 2023.
## **MANAGEMENT AND ADMINISTRATION**
DIRECTORS/TRUSTEES Mrs Partricia Benn Mr Ivor Stewart Ms Jennifer Andrews COMPANY SECRETARY Mr Fook Kong Chong REGISTERED OFFICE 34 Mostyn Avenue, Llandudno, Conwy, LL30 1YY 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 Memorandum of Association and Articles of Association.
## RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
The Directors of the company are also charity trustees. Trustees are eligible for appointment for up to three years maximum. Any member who wishes to stand may do so.
## OBJECTIVES AND ACTIVITIES
The Centre offers classes and courses in meditation 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 Tradition and International 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 owns a residential property in Craig 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 rent paid by residents. The centre also runs a membership scheme referred to as ‘Centre Card’ which regular attendees can sign up for a monthly fee to cover most classes and courses. Weekly classes are offered in Llandudno, Bangor, Rhyl, Conwy and Wrexham; together with ‘pop-up’ events at various locations including St Asaph and Betws-y-Coed. All classes and events are open to everyone irrespective of age, gender, race, or religion, and offer advice on how to meditate and put Buddha's teachings into practice to improve daily life.
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## ACHIEVEMENTS AND PERFORMANCE
Class and course attendance, new attendees and the number of locations where events are offered have continued to grow. We continue to offer classes and courses in Llandudno, Bangor, Conwy, Rhyl and near St Asaph. We now offer weekly classes in Wrexham. We have held more than 250 classes and courses in these locations with an average attendance of 11 people at each class or course during the calendar year 2023. We also introduced online classes in the second half of 2023.
## PLANS FOR 2024
We continue to work to strengthen our weekly classes and occasional events programme throughout North Wales. We continue to grow our volunteer base. We have plans to grow the number of classes and locations where we offer classes over the next two years. Also, we continue to work on a long-term project to find a suitable commercial space in, or close to Llandudno, to offer a larger meditation space with modern facilities.
## **FINANCIAL REVIEW**
The charity’s financial position is good with total unrestricted reserves at the end of the year of £236,009. These reserves are held to meet the charity’s objectives and to assist with the new building costs.
The company had a surplus for the year of £1,577 and positive cash at bank at year end of £12,161, 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.
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## **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 statements 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 state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing the financial statements, the trustees are required to:
- select suitable 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 statements comply with the Companies Act 2006. They are also responsible 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
Name ……………………...............
Signed ……………….....................
Date ……………………................
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## **Independent Examiner's 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 31 December 2023, which are set out on pages 7 to 11.
## **Respective responsibilities of trustees and examiner**
The charity's 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 Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under
- section 145(5)(b) of the Charities Act), and
- to state whether particular 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 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 “true and fair view”.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention:
- **1** . which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
**2** . to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
19/07/2024 Signed_____________________________________ Date ___________
Alistair Jenkins 14 Shiels Drive, Filton, Bristol.
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report (A Company Limited by Guarantee not having a Share Capital)**
## **STATEMENT OF FINANCIAL ACTIVITIES**
**For the year ended 31 December, 2023**
|**Notes**
**Income from:**
Voluntary income
Charitable activities
**Total Income**
**Expenditure on:**
Charitable activities
Other
**Total Expenditure**
**Net (Expense) / Income for the Year**
**RECONCILIATION OF FUNDS**
Funds brought forward
Unrestricted funds
Net (Expense) / Income for the Year
**Funds Carried Forward**|**2023**
£
Unrestricted
Funds
15,023
48,032
**63,055**
61,253
225
**61,478**
**1,577**
234,432
1,577
**236,009**|**2022**
£
Unrestricted
Funds
9,447
37,724
**47,171**
43,032
225
**43,257**
**3,914**
230,518
3,914
**234,432**|
|---|---|---|
The accompanying notes on pages 9 – 11 form part of these financial statements.
The 2022 comparative figures above are for a period of 13 months, ended 31 December, 2022.
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**Kalpa Bhadra Buddhist Centre Annual Trustees Report (Company Limited by Guarantee not having a Share Capital)**
## **BALANCE SHEET**
## **As at 31 December, 2023**
|**Notes**
**FIXED ASSETS**
Tangible Assets
2
**CURRENT ASSETS**
Cash at Bank
Stock
**TOTAL ASSETS**
**CREDITORS – Amounts due after one year**
Bank Loans
3
**NET ASSETS OF THE CHARITY**
**FUNDS OF THE CHARITY**
Unrestricted Income Funds
Unrestricted Building Fund
**TOTAL CHARITY FUNDS**|**2023**
£
Unrestricted
Funds
299,581
12,161
1,161
13,322
**312,902**
76,893
76,893
**236,009**
22,902
213,107
**236,009**|**2022**
£
Unrestricted
Funds
302,491
14,768
600
15,368
**317,859**
83,427
83,427
**234,432**
15,368
219,064
**234,432**|
|---|---|---|
The accompanying notes on pages 9 – 11 form part of these financial statements.
For the year ending 31 December, 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in accordance with section 476 of the Companies Act 2006. The Directors (Trustees) acknowledge their responsibility for complying with 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 for companies subject to the small companies regime.
Approved by the board:
Name & position …………………………….. Signed ………………..................... Date …….….
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## **NOTES TO THE FINANCIAL STATEMENTS**
## 1. **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 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015) 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.
## b) **Fund Accounting**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
The asset fund represents the trustees unrestricted interest in the freehold property used by the charity.
## c) **Income**
Income is included in the Statement Of Financial Activities when the charity is entitled to the income and the income can be quantified with reasonable accuracy.
Grant income is accounted for on an accruals basis; and shown in the financial statements when the charity earns 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 Statement of Financial Activities when received.
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. ACCOUNTING POLICIES (Cont’d)**
## d) **Expenditure**
Expenditure is included in the Statement of Financial Activities on an accrual basis as a liability is incurred, including irrecoverable VAT.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities, both costs directly 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 20% on cost straight line Property Improvements 20% on cost straight line
Assets below £250 are not capitalised but written off within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews.
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## **NOTES (CONTINUED)**
## **2. FIXED ASSETS**
|**COST**
As at 1/1/2023
Additions
As at 31/12/2023
**DEPRECIATION**
As at 1/1/2023
DEPRECIATION
As at 31/12/2023
**NET BOOK VALUE**
As at 1/1/2023
**As at 31/12/2023**|**Property**
**Property**
**Improvements**
290,000
14,551
0
290,000
14,551
0
2,060
2,910
0
4,970
290,000
12,491
**290,000**
**9,581**|**TOTAL**
304,551
0
304,551
2,060
2,910|
|---|---|---|
|||4,970
302,491
**299,581**|
## **3. CREDITORS - loan**
The amounts falling due after more than one year comprise solely a commercial bank loan, secured on the freehold property. Interest on this loan is included in the profit and loss account.
## **4. RESERVES**
The unrestricted building reserve represents the charity’s interest in the mortgaged freehold property, within overall unrestricted funds.
## **5. SHARE CAPITAL**
The Company is limited by guarantee having no share capital.
## **6. TRUSTEE REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the prior year.
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the prior year.
## **7. STAFF COSTS**
The average monthly number of employees during the year was as follows:
2023 2022 Centre Staff (part time) 2 2
No employees received emoluments in excess of £60,000.
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## **Kalpa Bhadra Buddhist Centre Annual Trustees Report**
## **STATEMENT OF Income and Expenditure**
For the period ended 31 December, 2023
|**Income:**
Donations
**Charitable activities**
Education
Accommodation
Shop / Other
**Total Income**
**Expenditure:**
Charitable activities
Education
Offerings & Festivals
Advertising
Depreciation
Travel
Shop stock
Domestic
Repairs
Utilities
Sundry / petty cash
Staff related expenses
Bank charges / interest
Governance costs
Accountancy
**Total Expenditure**
**Net (Expense) / Income for the Year**|**2023**
**2022**
£
£
Unrestricted
Unrestricted
Funds
Funds
15,023
9,447
**15,023**
**9,447**
30,504
19,417
16,860
16,710
668
1,597
**48,032**
**37,724**
**63,055**
**47,171**
6,015
2,739
5,302
6,378
2,750
2,065
2,910
2,060
2,845
1,910
1,174
194
4,410
2,555
4,904
1,261
13,224
9,220
2,803
2,891
9,648
8,595
5,244
3,139
61,228
43,007
250
250
**61,478**
**43,257**
**1,577**
**3,914**|**2023**
**2022**
£
£
Unrestricted
Unrestricted
Funds
Funds
15,023
9,447
**15,023**
**9,447**
30,504
19,417
16,860
16,710
668
1,597
**48,032**
**37,724**
**63,055**
**47,171**
6,015
2,739
5,302
6,378
2,750
2,065
2,910
2,060
2,845
1,910
1,174
194
4,410
2,555
4,904
1,261
13,224
9,220
2,803
2,891
9,648
8,595
5,244
3,139
61,228
43,007
250
250
**61,478**
**43,257**
**1,577**
**3,914**|
|---|---|---|
||||
|||**43,257**
**3,914**|
_This note is provided for management and need not be submitted externally_
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