2020-06-30-accounts - Kadampa Meditation Centre Kent

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Report of the Trustees and Unaudited Financial Statements for the Period ended 30 June 2020

For

KADAMPA MEDITATION CENTRE KENT

(A Private Company Limited by Guarantee)

Registered Company Number 03577302 (England and Wales)

Company Information for the Period Ended 30 June 2020

Registered Charity Number: 1100715

Trustees: P Chatfield C Gunabalasingham S Perez D Wetherall C Skelton L J Oxley N J Reekie S Mailvaganan J J Andrews Registered Office: 26 Cherry Garden Road Canterbury Kent CT2 8EP Accountants: Achieving Clarity 123, John Wilson Business Park Whitstable Kent CT5 3QY

Registered Company Number 03577302 (England and Wales)

Report of the Trustees of Kadampa Meditation Centre Kent (a Charitable Company limited

by Guarantee):

The Trustees present this report with the financial statements of the company for the year ended 30 June 2020.

Objectives and Activities

The principal aim of the company is to promote Kadam Dharma according to the teachings of le Tsongkhapa, in accordance with the internal rules of The New Kadampa Tradition – International Kadampa Buddhist Union 9NKT – IKBU). To accomplish this, the centre has two principle trading activities:

Teaching the three study programmes of the NKT-IKBU
Providing the facilities to house a community of people who wish to engage in the Buddhist way of life.

In order to achieve the first aim teaching is conducted within the centre and in hired venues around Kent. The generates a source of income.

Rental Income from residents is the second source of income. Other income comes from sales of books etc from our shop in the Centre which generates a small profit. There are also donations from benefactors.

The only liability is a bank loan which was used for the purchase of the centre. The loan for £120,000 was taken out in August 2002 and the income raised is used to pay the debt. At the end of this financial year there are only 3 months left to pay before the loan account is closed.

Achievements and Performance

Statement of Trustees Responsibilities:

The Trustees are responsible for preparing the Report of the Trustees and the Financial Statements, in accordance with applicable law and regulations.

Company law requires the Director to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit and loss of the company for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and accounting estimates that are reasonable and prudent;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the

Registered Company Number 03577302 (England and Wales)

Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection other irregularities.

This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

Signed on behalf of the Board of Trustees:

Registered Company Number 03577302 (England and Wales)

Accountants Report

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared, for your approval, the financial statements of Kadampa Meditation Centre Kent (A private company limited by guarantee) for the year ended 30 June 2020, which comprise a Profit and Loss account; The Statement of Financial Position and the related notes from the Company’s accounting records, compiled from the information that you have provided.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial records that give an accurate view of the assets, liabilities and financial position of the company.

We have not been instructed to carry out an audit or review of the financial statements of the company and therefore have not verified the accuracy or completeness of the information you have provided to us.

Wendy Tetley

Wendy Tetley CGMA

Achieving Clarity 123 John Wilson Business Park Whitstable Kent CT5 3QY

26[th] May 2021

Registered Company Number 03577302 (England and Wales)

KADAMPA MEDITATION CENTRE KENT Statement of Financial Activities For the year ended 30 June 2020

INCOME EXPENSES SURPLUS INCOME	30.06.20 £ 41,301 29,914 11,387	30.06.19 £ 33,024 26,096
		6,928

Registered Company Number 03577302 (England and Wales)

Kadampa Meditation Centre Kent Statement of Financial Position As at 30 June 2020

30.06.20 £ £ 147,049 1,600 18,059 19,659 472 19,187 166,236 166,236 166,236	30.06.20 £ £ 147,049 1,600 18,059 19,659 472 19,187 166,236 166,236 166,236	30.06.2019 £ £ 147,338 1,600 7,283 8,883 1,371 7,511 154,849 154,849 154,849	30.06.2019 £ £ 147,338 1,600 7,283 8,883 1,371 7,511 154,849 154,849 154,849
£ 1,600 18,059	£ 147,049 19,187 166,236
19,659 472		8,883 1,371

	166,236		154,849

			154,849

The Financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS105, The financial Reporting Standard applicable to the Micro-entities Regime.

During the year, the average number of employees was 2

For the year ended 30 June 2019 the company was entitled to exemption from audit under the Companies Act 2006 s477 relating to small companies and the members have not required the company to obtain an audit for the year in question.

The Trustees acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved on behalf the Board of Trustees:

Date:

Registered Company Number 03577302 (England and Wales)

KADAMPA MEDITATION CENTRE KENT

Notes to the Financial Statements

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008, The Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2005) and the Charities Act 1993

Registered Company Number 03577302 (England and Wales)

KADAMPA MEDITATION CENTRE KENT Detailed Statement of Financial Activities For the year ended 30 June 2020

30.06.20 £ £ 6,483 10,116 11,344 11,395 1,003 960 41,301 8,665 4,382 2,205 3,422 2,301 2,394 190 992 986 2,848 874 32 350 29,914 11,387	30.06.19 £ £ 7,199 7,355 13,990 2,973 581 926 33,024 5,114 1,994 2,094 3,230 1,875 1,206 1,037 308 520 153 1,384 896 5,252 64 309 26,096 6,928	30.06.19 £ £ 7,199 7,355 13,990 2,973 581 926 33,024 5,114 1,994 2,094 3,230 1,875 1,206 1,037 308 520 153 1,384 896 5,252 64 309 26,096 6,928
8,665 4,382 2,205 3,422 2,301 2,394 190 992 986 2,848 874 32 350	5,114 1,994 2,094 3,230 1,875 1,206 1,037 308 520 153 1,384 896 5,252 64 309

		6,928

This statement does not form part of the Statutory Accounts