Kalpa Bhadra Buddhist Centre A company limited by guarantee Annual Trustees Report and Financial Statements 31st December 2024 AE7R0L68 2810712025 COMPANIES HOUSE A05 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 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 their report and unaudited financial statements of the company for the year ended 31 December 2024. MANAGEMENT AND ADMINISTRATION DIRECTORsrrRUSTEES 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 Intemational Kadampa Buddhist Union, a network of centres throughout the world that practice Kadampa Buddhism founded by Venerable Geshe Kalsang 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.
Kalpa Bhadra Buddhist Centre Annual Trustees Report ACHIEVEMENTS AND PERFORMANCE Class and course attendan, new attendees, and the number of locations where events are offered have remained stable through the year. We continue to offer classes and courses in Llandudno, Bangor, Conwy, Rhyl, and Wrexham, and to hold day courses at a retreat centre near St Asaph. We have held more than 275 classes and courses in these locations. Although we have had slightly fewer attendees and regular classes and courses; the number of people who come to the centre regularly has remained stable. We have also continued to make use of online classes and tuition during the year. PLANS FOR 2025 We will continue to work to strengthen our weekly classes and occasional events programme throughout the North Wales area, and to grow our volunteer base. Our long-term goal is to find a suitable commercial space in, or close to Llandudno and surrounding towns, 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 £243,448. 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 £7,439 and positive cash at bank al year end of £16,134, available to service the charitsble 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.
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
Kalpa Bhadra Buddhist Centre Annual Trustees Report Independent Examinerfs 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 2024, 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 Irustees 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 disdosures 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 vievl. Independent examinerfs ststement 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 Section 44(1) (a) of Ihe 2005 Act and Regulation 4 of the 2006 Accounts Regulalions to prepare accounts which accord wilh the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. x0712025 Signed Date Alistair Jenkins 14 Shiels Drive, Filton, Bristol.
Kalpa Bhadra Buddhist Centre Annual Trustees Report (A Company Llmitsd bv Guarantee not havinq a Share Capltall STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December. 2024 IIA Unrestsfded Income fwm: Volurt•ry income Chwitatrd• adivlllej 12.STJ 15,023 Tolal Incom• 5S165 055 Exwndlwrn on: rilable aclNftles 47.501 61.253 TO E4*ndltr 47.716 61NT8 ltst (Eww) I lfi¢ome for the Year RECOIKIUATION OF FUNDS Funth foThYard Unresirfcted funds 236.009 234.432 Net (ExrArne) I Income for the Year Funds Cafrfed Fofwd The accompanying notes on pages 9 - 11 form part of these financial statements.
Kalpa Bhadra Buddhist Centre Annual Trustees Report Icompany Limited by Guarantee not havinA a Share Capital) BALANCE SHEET As at 31 December, 2024 1024 2023 NDtrs UnTe5Cted Funds FIXED ASSETS Tanglble Assets 296,671 299.581 CURREITf ASSETS Cash at Bank Slock 16.134 647 12,161 16.781 13.322 TOTAL ASSETS 313,452 3119)2 CREDITORS - Amoufits aft•r one y•ar Bank L4Mn5 70.004 76.893 NET ASSETS OF THE CHARITY FUNDS OF THE CHARITY Uwestiicted Income Funds Unmts5cled Builthn9 Fund 23.452 TOTAL CHARITY FUNDS 243,448 The accompanying notes on pages 9 - 11 form part of these financial statements. For the year ending 31 December, 2024 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 audil 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 preparalion of accounts. These accounts have been prepared in accordance with the provisions for companies subject to the small companies regime. Approved by the board: fR£NA SIDpIQ) Name & position.T. ).)RgC To.&.............. Signed ,}!1
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 ststements have been prepared in accordance with Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordan 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. ) 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,
Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (ConVd> d) Expenditure Expenditure is included in the Slatement 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. Govemance costs include those costs associated with meeting constitutional and statutory requirements, principally accounting and AGM expenses. e) Tangible Flxed Assets and Depreclatlon 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: Fumiture & Fittings Property Improvements 200/0 on cost straight line 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 cary out impairment reviews. 10
Kalpa Bhadra Buddhist Centre Annual Trustees Report NOTES (CONTINUED) 2. FIXED ASSETS Property Property Improvements TOTAL COST As at 111r2024 Adthtlons As at 3111212024 2.000 14.1 304.1 290.000 14,551 304.551 DEPREaATION As at 11112024 DEPRECIATION As al 3111212024 4.970 2.910 4,970 NET BOOK VALUE As at 11112024 290.000 9.581 299.581 As at 3111%2024 671 296.671 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 2024 nor ft)r the prior year. There were no trustees, expenses paid for the year ended 31 December 2024 nor for the prior year. 7. STAFF COSTS The average monthly number of employees during the year was as follows: 2024 2023 Centre Staff (part time) No employees received emoluments in excess of £60,000.