Registered Company Number 03577032 (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 18 month period ending 31st December 2022.
Objectives and Activities
The principal aim of the company is to promote Kadam Dharma according to the teachings of Je Tsongkhapa, in accordance with the internal rules of The New Kadampa Tradition – International Kadampa Buddhist Union NKT – IKBU). To accomplish this, the centre has two principle trading activities:
1. 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, teachings are conducted within the centre and in hired venues around Kent. This generates a source of income.
Rental Income from residents is the second source of income, with a maximum income of £1975 pcm when all rooms are rented out.
Other income comes from sales of books, electronic downloads and statues etc from our shop in the centre which generates a small profit. There are also donations from benefactors.
Achievements and Performance
The centre continues to perform strongly with an increase in core membership, leading to an increase in overall revenue from membership subscription and courses. This is the result of an increase in the number of dharma teachers and hence the number of classes we can practically deliver. Additionally, we have been able to increase the reach of our programme to new venues across Kent, which has been a positive development.
We are still actively looking to identify and secure a new centre and hope that we will achieve this aim soon, to enable us to develop a more active centre and grow our sangha community. Please note income from room rental was impacted because of the house going on the market. We intentionally reduced the number of tenants, to make the house more appealing when prospective buyer came to view the property. We also had the house tenant free for a period as we had accepted an offer, however this unfortunately fell through.
The outlook for the community is positive and the team is fully committed to ensuring we identify a new centre that will serve Kent for many years to come.
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:
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Select suitable accounting policies and then apply them consistently;
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Make judgements and accounting estimates that are reasonable and prudent;
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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:
Regtstered Chty Nwnbet: 1071837 C(xnpani¢5 Reyst1 Number: 035T1032 Kadampa MeditatioTh C¢Dtre Kent Dlrecton Report aDd FiDaneial Statements for the p¢riod ¢lld 31th D¢ttmber 2022 Milton Fanry Whitchurth Road Milh)n Green CH3 9DS ACCN475R 2310W2023 COMPANIES HOUSE A15
184
The Accounts Centre Accountants & Bu%ness hthsors
K#d# A Meditation Cen of tbe ettd ith 2•22 RqN)rt ofthe DirtttLYS Independen¢ Examin¢rfs Rty1 NfA¢s to the FinuKial Stai¢rne•ts
Kgdl Medlt¢lo Refere d Adminiitrtlve Dttils ded 31th Detember 2 R¢Ted Thrlty Nutyber 1071837 Regisl¢red Number 03577032 (Englwd Waks) Cn 8EP jeftrjan¢ Ath NI14 Jayne Keekie Comp4oy &¢re¢ary LisaJaTr¢Oxiey IndepeDdem¢ Eu•iti¢r Liz A4>iD ACMA CGMA ICPA The Accounts C¢ntr¢ milt Green Farn) Whitchurth Road Milwn Gr¢¢n CH3 9DS Banker8 Natwesl I l The P8r*k Kent CTI 2SQ
Med Kent heDi for the mber 2022 Th¢ directo present their report and the financial ststaDents for th¢ pffiod ¢tyJed 31th Dec1 2022 Results The results of the periods activities and the state of affairs at 31th Dwiber 2022 set out t& the on pages 4 to 5. Review of Business Kadampa Medit•tioD C¢ntre Kent is a restered chwity who's principle xtivity 1$ th¢ prOmlon of th¢ Buddhist Faith. DiTe¢tor Th¢ direc are wllsibk preparing the fingxial swements io with applicable law and UK G¢tteratty Accepted Accounting Prxtice. The directon duritig the period were: Jennifer JaD¢ Andrews Sivacbtlvi MailvaganaD Nlcoia Jayoe Reekie The fthancial statements are req¥Jired by14w to giv¢ a true and fair vi¢w of the stak of affaits ofth¢ charAry ottd of the surplw ordeficit of the Charity for that p¢ri(Mi In prEPry those finaocial statem¢nt& th¢ tTU5tees are required to.. . select suitsble a¢tIng polici¢s and theD appty them CODSiStentty clwity will conlinue. at any tim¢ the fincial position of th¢ charity and to enable them kn ensure that the fiDaD¢ial S¢atem ¢omply with the Cbarities A¢t 2006. They Jrt also responsibk foT safeguarding the assets of the cl1 and hence for thkiDg re&SODknle SW for the prEvention and detectiOD of fraud #] other irregulariti¢s. This report has been prcpar&J ID arAwdw with the wivisions of Part 15 of the Cthwies Act 2006 relating to small companies. ON BEHALF OF BOARD Dirtdori5ffitary . LbA Jax Oxley ,171
CeD rt of the Ind for tbe deD ber 2(Q2 Basis of OPiDiOn The examination wa5 earried out in with the Genernl Directions giv by the Cl•rities Cornmisstoners. An exJmination irtludes a Teview of the #ct4)uthg Teo)ftls keo by the charity and a cornpvison of the &counts presented with ffwrds. The prnceAlwes undertaken do FYovid¢ all the evidenc¢ that would b¢ required for an audit atHI e4)wuently ¥jIt opini()n is given. Opinion In oyri)pinion . . the financi41 $tsmurtS give a and fair view. in with iJK Getrally Acrepted A¢wuntirtg 4wlicabl¢ ty Smallw Etititi4 of the sts ofthe Lth¥ity's affairs as at 31th tkc¢mbw 2022 The Attouttts Ce•tre The Accountscentre AErountanls & Busines5thisor5
i¢aliott Centre Kent endEx nditsre Aecoun ith ror r21ll2 Per&od E•ded 3111Y22 Y¢8r EDdtd In¢omlDg resourres Ripts 82280 45.545 Resoyrc¢s exp¢ttded 12J23 25.437 3.857 6.353 2,620 2,293 2.695 3.321 Other diTe¢t expenses Utilities Genera] administrioD expe Post & ststionay Travel expenses Cleaning 2.768 551 120 3.765 6.317 104 2.OTI 41 Pensions CosL5 Dorn¢sti¢ items and food Subscriptions Offerings Telephone 1.019 471 1.854 1.676 Books Donations Adv¢rtiSiDg DepTeciation Interest paid Bank charg¢s Accountancy L¢gal Expenses 281 2.619 3.374 976 6.402 1.749 136 1.125 934 32 820 Totsl ruourttg expeod¢d 76.615 32,108 Net iAeomiDg r¢gOUrtes for thè ye•r 5.667 13.439 Totsl funds broughi foThw8rd 179.675 166236 Tol*l fynds TTI¢d forw¥Jnl 185 179 675
Flnaneial Ststetnents for the ded3 Blllee Shett Period Ended 31112llZ Yr Ended 30106121 TaDRibl¢ Flxed Ass¢ts 155.525 146.728 Curre¢ Aw'ts 950 1.412 29 30.195 33.697 Curr¢nt Li#billtta Creditois 378 750 ]Ye¢ Current Ass¢ts 29.817 31947 Net AM¢ts 185J42 179ffj75 Fitineed By:" Rttsin¢d FuDdJ Balan¢¢ * 31th December 202Q surp1$ for the Year 179.675 S.ff7 166236 13.439 Tot1 Fuods 185 179 For the finanGial year iti questioo the Pj was entitled toex¢mObx under 5ectiLm 477 ofthe Comptynies Act 2006 relating t() sm411 wmpanie$. No rnemb¢rs have required the c(Dpw w obtsin audit of its th¢ y¢8r in qu¢stirn in acr<thee with sectio 476 of the Compani¢s Act 21106. The directors acknowledge their re5poosibility forcomplying the requiremuts of Aet with respect 10 a¢tIng record5 and for the preparntion of accounts. These aUnts have been prepared in accord with tl% provisi(w •ppYithl¢ kn SI1 c4)mwies Mbj¢d toth¢ small compi¢s regim¢ and in acwdance FRS102 SORP. .. and were $i¢d on its bel)olf by Lim J•me Oxky
ith l. S¢athtory Ioforntioo Kadampa MltAtiOn Kerrt is a private (Y)mFY. limi1 by guarnntre ithO share capital, regiard in England and Wales. The cmpany's r¢gisteTed nufflb aThJ offic¢ address fo1 on the c<Y InfOrn pa8e. 2. Ae¢ouDth¥ p•li¢les The principal acwuntin8 w)lict£s are summsed lOw. Tr ¥w)unting lIcI¢S hav¢ iwi aEvlirAI onsi5ntly throu&lwt thc pttiod and the precalin8 year. 2.1 B8sb of #ceouDtlmg These financiaj ststemfflts have bren wep8mJ in xo)rdwLtt with th¢ provisio of Section IA"Sm811 Entiti¢J' of Finaneial RertIng Standard 102" and the Ch8rities SORP. The Financial R¢F¥)ning Standard applicabl¢ in the UK a#d Republic of Ire]and' and the CDmpaAies Art 21. Th¢ fin101 Statents have Iwi pr¢tw dff the histori1 conveniion. 2.2 T&Dglble fixed ssets tkpreeiatlon is i)rOVLd at the following r¥t¢5 iniKd¢rtO WTite off &85et over its eAim8tsJ useful lif¢. Fix1ur¢ and Fittin8s - Straight line 25% Fre¢h)Id ProF¢rty- Nil. Cornputer ElUi¢Tht- Strai8ht lin¢ 33% ZJ FllDd a¢¢ountlDE 1¢ i$ the )I1¢Y of th¢ Cthtre tht UThTesthL#ed fuThts which have ien desitl for wific use should be maintained at a level swiva]en¢ to at le4 three nwiths eXpdIts 2.4 1tolI1 res•rees All incMing reg)urc¢s are inclutsl kn the fin1#1 #meots the ehrity is attid¢d to tr*m aThJ the 8mount con be quantified with reasonable 8carxy. The of servic¢s Provid by voluntr h&% no¢ been irKlwae41 JrKom¢ frorn inv¢#m¢nts is includryl in the period in which it is rettithle. 23 Resowrets expend¢d ExdItUTe is regnIs on gn Ixsis as a liability is incurrd. ExltUrE includes any VAT ¢anno¢ re£ovae4 is rqxirted as pw¢of thr CWa)ditwr it relates. 3. EDJploy¢¢s Dhrtttorj The 4ver88e monthty number of eryh)yees thwing the l.12021- 1)
th Fihntil S rthe 4. l•¢•ttte GP C1&83e5 and M¢rnIxhlP FP M¢rniYThhip Day Coytse 27214 11646 23,723 13.733 1215 1749 11.477 10.025 4.762 12,151 270 Ihvutrnent ID¢ome TAll¢ FIX Aswts Computer land & Pknnt & Equiprn¢n B•lldiw MchiDery Totsi At 151 Juty 2021 Additi]5 in Diswais 144,650 4139 3.058 148,889 10.546 579 At 31th D¢ 2022 151559 579 159435 At 1st Juty 2021 Chwge for the lod Elithin4t¢d on d]sF$ 1161 1.638 2.161 1.749 At 31th Decem 21n2 Nrf book At 31th DeC¢M 2022 151 559 155 523 Ai 1st July 2021 728 7. Auatysls of •¢tturre•t usots bttwwn Totsl fuDdJ Fund banC¢S at 31th Det£mlKr 2022 &8 rqxcsatsl by. & Trnstee retteatIon
Virtual Cabinet Portal Digital Signatures Digital Signature Verification You can venty that this is a genuine Virtual Cabinet pal sign&J document ty uplo*JiNJ rt to th8 following secwe web page.. httpsjlwww.virtuakabinelp)rtal.comlVwtySignedD¢tuffI Signature Dates and Times All dat85 and times shown in the sgnatures bebw ¥e ewessed in Coordinated UnNwsal Time IUTCI. whtch is generalty equiVnI lo GMT. You can lind out more ab)ut UTC at Ihe folbwitYJ web page". htlpJlwwW.vitfval¢8lyn8tFal.cnat1suTC Signalure 1 si9rd by Lisa Oxley ¥J8iiYJ aUthenknOn CC¥Je bDxLcERoYnR5(#H at IP athjress 146.WJ.87.128, on a)2m119 09:23..24 Z. sa Oxl8Vs frmail address is.. ad.Jar@grnal1.co