Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
TRUSTEES’ REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Company Information | 1 |
| Trustees’ Report | 2 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| Independent Accountant’s Report | 9 |
| Income and Expenditure Account | 10 |
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2021
DIRECTORS:
Mr Laurence Bristow Ms Jennifer Jane Andrews Mr Alan Williams
SECRETARY: Ms Elizabeth Juliette Robertson
REGISTERED OFFICE:
5 North Bridge North Bridge Halifax West Yorkshire HX1 1XH
REGISTERED NUMBER: 03215686 (England and Wales) CHARITY NUMBER: 1058203
ACCOUNTANTS: Partner Accountancy The Gas Light Lower Warrengate Wakefield West Yorkshire WF1 1SA
Page 1
GANDEN BUDDHIST CENTRE
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report and financial statements for the Period ended 31 December 2021.
STRUCTURE, GOVERNANCE AND MANAGEMENT
PRINCIPLE ACTIVITY
The principal activity of the company is to promote the Buddhist faith through the activities of teaching, study, practice and the observance of moral discipline all within the Buddhist tradition of Je Tsongkhapa through the three New Kadampa Tradition Education Programmes.
GOVERNING DOCUMENT
Ganden Buddhist Centre is a charitable company limited by guarantee. The company was established under a Memorandum of Association dated 24th June 1996 which established the objects and powers of the charitable company and is governed under its Articles of Association.
REVIEW OF PROGRESS
We started the year 2021 still in lockdown due to covid. This meant we continued to do classes and courses online. This changed in July when all restrictions were lifted. We started to hold in person classes while still exercising caution, requiring masks to still be worn and with social distancing in place.
Online classes didn't suit everyone and some people stopped attending. The numbers are starting to grow again, very slowly.
In December of 2021 Chogma left us to become the resident teacher in Darlington and we now have Kadam Mike Garside as our resident teacher.
Page 2
GANDEN BUDDHIST CENTRE
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
RESPONSIBILITIES OF THE MANAGEMENT COMMITTEE
Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:
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Select suitable accounting policies and apply them consistently
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Make judgments and estimate that they are both reasonable and prudent
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
The management committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The managements committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud or other irregularities.
TRUSTEES
The trustees, who are also directors for the purpose of company law, shown below have held office during the whole of the period from 1[st] January 2021 to the date of this report.
Mr Laurence Bristow Ms Jennifer Jane Andrews Mr Laurence Bristow
ON BEHALF OF THE BOARD OF TRUSTEES:
........................................................................ Mr L Bristow
........................................................................ Ms J Andrews
........................................................................ Mr A Williams
Date:
Page 3
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
| BALANCE SHEET 31 DECEMBER 2021 31 Dec 2021 Notes £ £ FIXED ASSETS Tangible assets 6 120,281 CURRENT ASSETS Cash at bank 9,674 9,674 CREDITORS Amounts due within 1 year 7 (5,531) NET CURRENT ASSETS 4,143 TOTAL ASSETS LESS CURRENT LIABILITIES 124,424 CREDITORS Amounts falling due after more than one year 8 (32,635) NET ASSETS 91,789 MEMBERS’ FUNDS Unrestricted funds 91,789 91,789 |
31 Dec 2020 £ £ 120,810 18,871 18,871 (6,131) 12,740 133,550 (36,852) 96,698 96,698 96,698 |
|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its income and expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The notes form part of these financial statements
Page 4
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
The financial statements were approved by the Board of Directors and were signed on its behalf by:
........................................................................ Mr L Bristow ........................................................................ Ms J Andrews
........................................................................ Mr A Williams
Date:
The notes form part of these financial statements
Page 5
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Incoming resources
Donations are accounted for when received by the company. Other income is accounted for on an accruals basis as far as is prudent to do so. All income arises in the United Kingdom.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure in which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
Tangible fixed assets
Tangible fixed assets other than freehold land and buildings are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil Property Improvements - 1% on cost Fixtures & equipment - 20% on reducing balance
Accumulated funds
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Taxation
As a registered charity the company is generally exempt from Income Tax and Capital Gains Tax
The notes form part of these financial statements
Page 6
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
2. INCOME
The income and surplus are attributable to the principal activity of the company.
3. INCOME RESOURCES FROM CHARITABLE ACTIVITES
| Dec 2021 | Dec 2020 | |
|---|---|---|
| £ | £ | |
| Courses | 4,325 | 1,875 |
| Residents | 5,250 | 1,80 |
| Donations | 3,279 | 154 |
| Shop | 925 | - |
| Fund raising & other income | 6,290 | 6,046 |
| Grants and subsidies received | 6,668 | - |
| 26,737 | 9,875 |
4. TRUSTEES
No trustees were paid any remuneration for acting as a trustee during the year.
5. EMPLOYEES
There were no employees during the year.
The notes form part of these financial statements
Page 7
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
6. TANGIBLE FIXED ASSETS
| Freehold | Property | Property | Fixtures & | |||
|---|---|---|---|---|---|---|
| property | improvement | fittings | Totals | |||
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1 Jan 2021 | 100,184 | 44,340 | 18,795 | 163,319 | ||
| Additions | - | - | - | - | ||
| Revaluation | - | - | - | - | ||
| At 31 Dec 2021 | 100,184 | 44,340 | 18,795 | 163,319 | ||
| DEPRECIATION | ||||||
| At 1 Jan 2021 | 17,034 | 7,023 | 18,452 | 42,509 | ||
| Charge for year | - | 443 | 86 | 529 | ||
| Prior year adjustment | - | - | - | - | ||
| At 31 Dec 2021 | 17,034 | 7,466 | 18,538 | 43,038 | ||
| NET BOOK VALUE | ||||||
| At 31 Dec 2021 | 83,150 | 36,874 | 257 | 120,281 | ||
| At 1 Jan 2021 | 83,150 | 37,317 | 343 | 120,810 | ||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| Dec 2021 | Dec 2020 | |||||
| £ | £ | |||||
| Bank loans and overdrafts | 5,531 | 5,531 | ||||
| Accrued expenses | - | 600 | ||||
| 5,531 | 6,131 | |||||
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | |||||
| YEAR | ||||||
| Dec 2021 | Dec 2020 | |||||
| £ | £ | |||||
| Bank loans | 32,635 | 36,852 |
The notes form part of these financial statements
Page 8
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
INDEPENDENT ACCOUNTANTS’ REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF GANDEN BUDDHIST CENTRE
We report on the accounts of the company for the year ended 31 December 2021, which are set out on pages 3 to 7.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND REPORTING ACCOUNTANT
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
Having satisfied ourselves that the charity is not subject to audit under company law and is eligible for independent examination, it is our responsibility to:
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Examine the accounts under section 43 of the 1993 Act;
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To follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)b of the 1993 Act; and
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To state whether particular matters have come to our attention.
BASIS OF INDEPENDENT EXAMINER’S REPORT
Our examination was carried out in accordance with the general Directions given by the Charity 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 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER’S STATEMENT
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements;
to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirement of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in our opinion, attentions should be drawn in order to enable a proper understanding of the accounts to be reached.
Partner Accountancy The Gas Light Lower Warrengate Wakefield West Yorkshire WF1 1SA
Date:
Page 9
Charity Registration No. 1058203
Company Registration No. 03215686 (England and Wales)
GANDEN BUDDHIST CENTRE
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| 31 Dec 2021 £ Income Courses 4,325 Residents 5,250 Donations 3,279 Shop 925 Fund raising & other income 6,290 Grants and subsidies received 6,668 Cost of Sales Waste disposal 300 Venue hire 860 Repairs, renewals and maintenance 3,461 Light and heat 6,298 Sundry 1,402 Printing, postage and stationery 2,729 Rates 317 Offerings 1,377 Sponsorships 7,087 Water rates 1,288 GROSS SURPLUS Expenditure Computer and IT consumables 1,948 Insurance 1,583 Printing, postage and stationery 459 Advertising and marketing costs 283 Training seminars and workshops 70 Charitable donations 180 Depreciation of fixtures and fittings 86 Depreciation of leasehold land and property 443 OPERATING (DEFICIT)/SURPLUS Other interest receivable and similar income Bank interest received 1 Interest payable and similar expenses Bank loan interest 1,476 EXCESS OF INCOME OVER EXPENDITURE |
31 £ 26,737 (25,119) 1,618 (5,052) (3,434) 1 (1,476) (4,909) |
Dec 2020 £ 1,875 1,800 154 - 6,046 - - 170 270 2,233 1,538 - 173 303 2,460 - - 1,098 - 105 - 90 49 223 1 763 |
£ 9,875 (7,147) 2,728 (1,565) 1,163 1 (763) 401 |
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This page does not form part of the statutory financial statements
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