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← Kadampa Meditation Centre Exeter

2024-12-31-accounts

Kadampa Meditation Centre Exeter

(formerly Pure Land Buddhist Centre)

Unaudited Annual Accounts Year ended 31 December 2024

CONTENTS

Page

1-2 Trustees’ Report 3 Independent Examiner's Report to the Members 4 Statement of Financial Activities 5 Balance Sheet 6-8 Notes and Accounting Policies

Company Number: 3097070

Registered Charity Number: 1052954

Kadampa Meditation Centre Exeter (formerly Pure Land Buddhist Centre) Annual Accounts Year ended 31 December 2024 Trustees’ Report

The trustees submit their report and the unaudited financial statements for the year ended 31 December 2024.

Reference and administrative details

The company name was changed to Kadampa Meditation Centre Exeter from Pure Land Buddhist Centre in March 2024.

Company number 3097070 Registered charity number 1052954

Address and Registered Office

55 Union Road Exeter EX4 6HU

Directors

The trustees (who are directors for the purposes of company law) who served during the year were as follows:-

Dr J Shorney Mr M Vasey (to 10 December 2024) Mr L Bartlett (from 10 December 2024) Ms M Cansdale Ex officio

Company Secretary

Miss J Parsons

Objectives and activities

Kadampa Meditation Centre Exeter is established to promote the Buddhist faith through the activities of teaching, study, practice and observance of moral discipline all within the Buddhist tradition of Je Tsongkhapa through the three New Kadampa Tradition Education Programmes, the General Programme, the Foundation Programme and the Teacher Training Programme.

In carrying out these activities the Committee has had regard to the guidance issued by the Charity Commission on public benefit.

Achievements and performance

General programme classes continued at the Centre and at the Crediton and Sidmouth branch classes and the RD&E Hospital Chaplaincy. The two Foundation Programme courses continued on Sunday mornings and Wednesday evenings. The fundraising festival meal was held for the first time in a few years in November.

The rooms were let for most of the year with a few changes of residents. Refurbishment of the public areas was carried out with damp proofing, replaster and redecoration of the dining room, new sanitaryware, redecoration and flooring to the toilet and redecoration of the meditation room and hallway, including re-sanding and re-coating the hall wooden floor.

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Kadampa Meditation Centre Exeter (formerly Pure Land Buddhist Centre) Annual Accounts Year Ended 31 December 2024

Trustees’ Report

Financial review

For the year under review the charity’s general fund income exceeded its expenditure by £5,042. This surplus did not completely cover the capital element of the payments to the mortgagee of the company’s property and the net result was a deficit of £3,245 for the general fund after the transfer of the capital repaid on the mortgage.

The reserves comprise three funds: a general fund, a property fund and a restricted refurbishment fund. The property fund is represented in financial terms by the original cost of the property less the outstanding mortgage. The general fund supports the day to day activities of the charity and stood at £13,602 at the balance sheet date.

Structure, governance and management

Kadampa Meditation Centre Exeter is a company limited by guarantee, having no share capital. The governing document is the memorandum and articles of association. The company is registered as a charity with the Charity Commission.

The Directors are charity trustees and the business of the charity is governed by the Directors.

Following an amendment to the Constitution in December 2020 the number of Directors has been reduced to three with two of the Directors being Members (and normally Local Members), and elected by the Members of the Charity. The third Director is an ex officio Director and duly-appointed Administrative Director of a major NKT-IKBU Kadampa Meditation Centre in the United Kingdom. The elected Directors will serve a term not exceeding three years and the term of office of the ex officio Director will not be fixed.

The day to day running of the charity is carried out by the Administrative Director, who is also Company Secretary, appointed by the Directors.

.

Approved by the trustees on 25 September 2025 and signed on their behalf

L Bartlett Trustee

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Kadampa Meditation Centre Exeter (formerly Pure Land Buddhist Centre) Year ended 31 December 2024

Independent Examiner’s Report

This report on the accounts of Kadampa Meditation Centre Exeter for the year ended 31[st ] December 2024, which are set out on pages 4 to 8, is in respect of an examination carried out under section 145 of the Charities Act 2011 (the Act).

Respective responsibilities of the Trustees and Examiner

As stated on page 5 the directors are responsible for the preparation of the financial statements. They consider that the audit requirement of Section 144 of the Act does not apply. It is my responsibility to :

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners, An examination includes a review of the accounting records kept and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

have not been met; or

J H Ison

21 Angel Hill Tiverton Devon EX16 6PE

25 September 2025

3

Kadampa Meditation Centre Exeter Statement of financial activities

Income and expenditure account Year ended 31 December 2024

Notes
Income
2
Income and endowments from:
Donations
Charitable activities
Expenditure
3
Expenditure on:
Charitable activities
Total expenditure
Net income/ expenditure for
the year
Transfers between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward		 Total
General
Designated
Restricted
2024
£
£
£
£
1,007
11,250
12,257
38,097
38,097
39,104
0
11,250
50,354
34,062
7,750
41,812
34,062
0
7,750
41,812
34,062
0
7,750
41,812
5,042
0
3,500
8,542
-8,287
8,287
0
-3,245
8,287
3,500
5,042
16,847
210,109
0
226,956
13,602
218,396
3,500
235,498
Unrestricted		 Total
2023
£
4,943
39,961
44,904
34,095
34,095
34,095
10,809
0
10,809
216,147
226,956

The statement of financial activities includes all gains and losses in the year. There were no acquisitions or discontinued operations during the current or preceeding year.

4

Kadampa Meditation Centre Exeter Balance sheet

31 December 2024

Notes
Tangible fixed assets
4
Current assets
Stock
Debtors
5
Cash at bank
Cash in hand
Creditors
Amounts falling due within one year
6
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year
7
Total net assets
Reserves
8
Unrestricted funds
Designated funds
General fund
Restricted fund
Total income funds		 £
£
£
£
331,335
331,335
1,254
1,200
2,941
315
13,161
15,576
226
236
17,582
17,327
480
480
17,102
16,847
348,437
348,182
112,939
121,226
235,498
226,956
218,396
210,109
13,602
16,847
231,998
226,956
3,500
0
235,498
226,956
2023
2024		 £
£
£
£
331,335
331,335
1,254
1,200
2,941
315
13,161
15,576
226
236
17,582
17,327
480
480
17,102
16,847
348,437
348,182
112,939
121,226
235,498
226,956
218,396
210,109
13,602
16,847
231,998
226,956
3,500
0
235,498
226,956
2023
2024
348,182
121,226
226,956
210,109
16,847
226,956
0
226,956

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the directors on 25 September 2025

L Bartlett Director

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Kadampa Meditation Centre Exeter Annual Accounts Year Ended 31 December 2024 Notes to the Accounts

1. Accounting Policies

Basis of Accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the notes to these accounts.

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 applicable in the UK and Republic of Ireland (FRS102) issued on 16 July2014 and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.

The charity meets the definition of a public benefit entity under FRS 102.

Income

Income is recognised when the charity is entitled to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be quantified with reasonable accuracy

Expenditure

Expenditure is recognised on an accrual basis when a liability is incurred and when the obligation can be measured with reasonable certainty

Governance costs include those costs associated with meeting the constitutional and statutory obligations of the charity, including examination fees.

Tangible Fixed Assets and Depreciation

Freehold property acquired for charitable use is valued at cost. Freehold property is not depreciated where the directors are of the opinion that the buildings concerned are sufficiently well maintained to ensure that the residual values are not less than the carrying values and accordingly annual depreciation would not be material to the financial statements. Carrying values are reviewed for impairment annually.

6

Kadampa Meditation Centre Exeter Annual Accounts Year ended 31 December 2024 Notes to the accounts

2. Analysis of income
Donations
Donations -restricted
Donations -unrestricted
Gift aid
Charitable activities
Memberships
General study programme
Day courses
Empowerment
Other courses
Outreach community classes
Bookshop
Rent and utilities
3. Analysis of expenditure
Charitable activities
General study programmes
Day courses
Empowerment
Other courses
Travel
Room hire
Printing, stationery and computer
Web hosting and media adverts
Bookshop purchases, adjusted for stock
Teacher expenses
Meditation room-general expenses
Meditation room-regular expenses
Rent (deposits)
Utilities
Kitchen and household
Repairs and maintenance
Refurbishment costs - restricted
Furnishings and fittings
Insurance
Payment fees and bank charges
Mortgage interest
Independent Examination fees
Charity administration		 Unrestricted
Restricted
£
9,000
724
283
2,250
1,007
11,250
6,079
1,895
2,081
645
267
290
291
26,549
38,097
0
305
256
40
62
756
967
518
75
6,586
29
918
1,020
8,411
651
2,109
7,750
302
1,112
72
9,233
576
64
34,062
7,750
2024		 2023
£
0
3,521
1,422
4,943
5,105
1,676
3,267
375
317
304
621
28,296
39,961
46
278
81
86
235
1,497
355
88
318
7,235
58
605
1,196
9,048
474
632
1,653
1,204
89
8,424
480
13
34,095

Expenditure on charitable activities includes governance costs of £640 (2023: £493)

7

Kadampa Meditation Centre Exeter Annual Accounts Year ended December 2024 Notes to the accounts

4. Tangible fixed assets

Cost
At 1 January 2024 and 31 December 2024
Depreciation
At 1 January 2024 and 31 December 2024
Net book amounts
At 31 December 2024 and 31 December 2023
5. Debtors
Other debtors
6. Creditors - amounts falling due
within one year
Trade creditors
Other creditors
7. Creditors - amounts falling due
after more than one year
Secured loan		 Freehold
Property
£
£
331,335
331,335
0
0
331,335
331,335
2024
2023
£
£
2,941
315
2,941
315
0
0
480
480
480
653
112,939
121,226
Total		 £
331,335
Total
0
331,335

The loan is secured on the charity's freehold property.

8. Movements in funds

Restricted Fund
Designated Property Fund
Unrestricted General Fund		 £
£
£
£
£
0
11,250
-7,750
3,500
210,109
0
8,287
218,396
16,847
39,104
-34,062
-8,287
13,602
Transfers
At 31
December
2024
At 1 January
2024
Outgoing
resources
Incoming
resources
226,956
50,354
-41,812
0
235,498

The restricted fund relates to money donated to carry out refurbishment work at the charity's premises. This work is expected to be completed in 2025.

The designated property fund relates to the puchase of the charity's property at 55 Union Road, Exeter. The property was acquired in June 2009 with the help of a mortgage loan. The closing balance of the fund represents the original cost of the property less the outstanding loan at the balance sheet date.

9. Transactions with trustees

During the year none of the trustees received any remuneration or benefits or have received expenses for fulfilling their duties as trustees.

8