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 12 month period ending 31st December 2023.
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:
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Teaching the three study programmes of the NKT IKBU
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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.
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 a stable level of core members. We continue to deliver a broad range of classes and courses, where we frequently receive positive feedback from attendees. In addition to our regular programme, we are always keen to explore opportunities to extend our offering, with the aim to further support the community from a wellness and mental health perspective. Given the high demand for such support, we are confident that what we offer has a positive impact on the local community.
Finding a new centre remains a key goal for KMC Kent, however it has been challenging finding a suitable property that will function for the purpose we require, so the search continues. We are hopeful that 2025 will present opportunities to achieve our vision of identifying a property that will function more effectively as a community hub.
The outlook for the remainder of 2024 and into next year looks very positive as we firm up our programme content in terms of classes, courses and retreats.
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 of 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:
Robert John Adams 21/10/24
Registered Charity Number : 1071837 Companies Registered Number : 03577032
Kadampa Meditation Centre Kent
Directors Report and Financial Statements for the period ended 31st December 2023
The Accounts Centre Unit 13b Mollington Grange Parkgate Mollington Chester CH1 6NP
Kadampa Meditation Centre Kent
Contents of the Financial Statements for the period ended 31st December 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Directors | 2 |
| Independent Examiner's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 - 7 |
Kadampa Meditation Centre Kent
Reference and Administrative Details for the period ended 31st December 2023
| Registered Charity Number | 1071837 |
|---|---|
| Registered Number | 03577032 (England and Wales) |
| Registered Office | 26 Cherry Garden Road |
| Canterbury | |
| Kent | |
| CT2 8EP | |
| Directors | Mary Estelle Cansdale |
| Sivachelvi Mailvaganan | |
| Nicola Jayne Reekie | |
| Company Secretary | John Robert Adams |
| Independent Examiner | Liz Aspin ACMA CGMA ICPA |
| The Accounts Centre | |
| Unit 13b Mollington | |
| Grange Parkgate | |
| Mollington | |
| Chester | |
| CH1 6NP | |
| Bankers | NatWest |
| 11 The Parade | |
| Canterbury | |
| Kent | |
| CT1 2SQ |
1
Kadampa Meditation Centre Kent
Report of the Directors for the period ended 31st December 2023
The directors present their report and the financial statements for the period ended 31st December 2023
Results
The results of the periods activities and the state of affairs at 31st December 2023 are set out in the accounts onReport of the Trustees 1 - 4 pages 4 to 5.
Review of Business
Kadampa Meditation Centre Kent is a registered charity who's principle activity is the promotion of the Buddhist Faith.
Directors
The directors are responsible for preparing the financial statements in accordance with applicable law and UK Generally Accepted Accounting Practice.
The directors during the period were:
Mary Estelle Cansdale Sivachelvi Mailvaganan Nicola Jayne Reekie
Other changes in directors holding office are as follows:
Jennifer Jane Andrews - resigned 30 January 2024
The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those 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 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 charity will continue.
The directors are responsible for keeping proper accounting records which 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 Charities Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD Director/Secretary
John Robert Adams
2
Kadampa Meditation Centre Kent
Report of the Independent Examiner
for the period ended 31st December 2023
Basis of opinion
The examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. The procedures undertaken do not provide all the evidence that would be required for an audit and consequently no audit opinion is given.
Opinion Statement of Financial Activities 6 In our opinion :
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the financial statements give a true and fair view, in accordance with UK Generally Accepted Accounting Practice applicable to Smaller Entities, of the state of the charity's affairs as at 31st December 2023 .
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the information given in the Report of the Directors is consistent with the financial statements.
The Accounts Centre
3
Kadampa Meditation Centre Kent
Income and Expenditure Account
for the period ended 31st December 2023
| Notes Incoming resources Incoming resources from generating funds Receipts 4 Interest received 5 Total incoming resources Resources expended Directors and teachers expenses Other direct expenses Rates Utilities General administration expenses Post & stationery Travel expenses Cleaning Repairs and maintenance Pensions Costs Domestic items and food Subscriptions Offerings Telephone Insurance Books Donations Advertising Depreciation Interest paid Bank charges Accountancy Legal Expenses Total resources expended Net incoming resources for the year Total funds brought forward Total funds carried forward |
Year Ended 31/12/23 £ 68,939 - 68,939 3,840 27,479 2,348 3,646 1,743 59 13 2,699 1,711 35 680 708 1,025 2,467 - 3,785 1,772 120 750 231 55,111 13,828 185,342 199,170 |
Period Ended 31/12/22 £ 82,280 2 |
|---|---|---|
| 82,282 | ||
| 12,523 25,437 3,857 4,940 2,768 551 48 90 6,317 104 2,077 41 1,190 998 1,854 1,676 1,800 6,402 1,749 136 1,125 934 |
||
| 76,615 | ||
| 5,667 179,675 |
||
| 185,342 |
4
Kadampa Meditation Centre Kent
Financial Statements
for the period ended 31st December 2023
Balance Sheet
| Notes | Year Ended 31/12/23 | Year Ended 31/12/23 | Period Ended 31/12/22 | Period Ended 31/12/22 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Tangible Fixed Assets | 6 | 153,996 | 155,525 | ||
| Current Assets | |||||
| Debtors | 900 | 950 | |||
| Bank | 44,400 | 29,245 | |||
| 45,300 | 30,195 | ||||
| Current Liabilities | |||||
| Creditors | 127 | 378 | |||
| Net Current Assets | 45,174 | 29,817 | |||
| Net Assets | 199,170 | 185,342 | |||
| Financed By:- | |||||
| Retained Funds | |||||
| Balance at 31th December 2020 | 185,342 | 179,675 | |||
| Surplus for the Year | 13,828 | 5,667 | |||
| Total Funds | 199,170 | 185,342 |
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small compies regime and in accordance with FRS102 SORP.
24/09/24
The financial statements were approved by the Directors on …………………………... and were signed on its behalf by
Director/Secretary John Robert Adams
5
Kadampa Meditation Centre Kent
Notes to the Financial Statements
for the period ended 31st December 2023
1. Statutory Information
Kadampa Meditation Centre Kent is a private company, limited by guarantee without share capital, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page .
2. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and the preceding year.
2.1 Basis of accounting
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 " and the Charities SORP. The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
2.2 Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture and Fittings - Straight line 25% Freehold Property - Nil. Computer Equipment- Straight line 33%
2.3 Fund accounting
It is the policy of the Centre that unrestricted funds which have not been designated for specific use should be maintained at a level equivalent to at least three months expenditure.
2.4 Incoming resources
All incoming resources are included in the financial statements when the charity is entitled to them and the amount can be quantified with reasonable accuracy.
The value of services provided by volunteers has not been included. Income from investments is included in the period in which it is receivable.
2.5 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
3. Employees and Directors
The average monthly number of employees during the period was Nil. (2022 - 1)
6
Kadampa Meditation Centre Kent
Notes to the Financial Statements
for the period ended 31st December 2023
4. Income
| GP Classes and Membership FP Membership Day Course Rent Donations Other income nt income Bank interest receivable Fixed Assets Cost At 1st Jan 2023 Additions in period Disposals At 31th December 2023 Depreciation At 1st Jan 2023 Charge for the period Eliminated on disposals At 31th December 2023 Net book values At 31th December 2023 At 1st Jan 2023 of net current assets between funds Fund balances at 31th December 2023 as represented by: Net current assets |
2023 2022 £ £ 20,882 27,214 11,240 12,646 31,533 23,723 200 13,733 1,580 2,215 3,505 2,749 68,939 82,280 2023 2022 £ £ 0 2 Freehold Land & Buildings Plant & Machinery Computer Equipment Total £ £ £ £ 151,559 7,297 579 159,435 - 244 - 244 - - - - 2023 |
|---|---|
| 151,559 7,541 579 159,679 |
|
| - 3,799 111 3,910 - 1,581 191 1,772 - - - - |
|
| - 5,380 303 5,682 |
|
| 151,559 2,161 276 153,996 |
|
| 151,559 3,498 468 155,525 |
|
| Unrestricted Total Total funds funds funds £ £ £ 45,174 45,174 - |
5. Investment income
6. Tangible Fixed Assets
7. Analysis of net current assets between funds
8. Trustee remuneration
None of the trustees received any money for the services they provided to the company.
7
As per Page 3 within the Account the following is the Report of the Independent Examiner.
Kadampa Meditation Centre Kent
Report of the Independent Examiner for the period ended 31st December 2023
Basis of opinion
The examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. The procedures undertaken do not provide all the evidence that would be required for an audit and consequently no audit opinion is given.
Opinion Statement of Financial Activities 6
In our opinion :
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the financial statements give a true and fair view, in accordance with UK Generally Accepted Accounting Practice applicable to Smaller Entities, of the state of the charity's affairs as at 31st December 2023 .
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the information given in the Report of the Directors is consistent with the financial statements.