Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## MURRAY SMITH
C H A R T E R E D A C C O U N T A N T S
Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU Tel 01606 79411 Fax 01606 782878 email@murraysmith.com
Mr C Chapman Odiyana Kadampa Meditation Centre Ltd The Heysoms 163 Chester Road Northwich Cheshire CW8 4AG
23 June 2025 NT/O077/EF
Dear Chris
## **YEAR END ACCOUNTS AND COMPANY TAX RETURN**
I am pleased to attach the following for approval and signature.
1. The full accounts for the year ended 31 December 2024
2. The abridged accounts for the year ended 31 December 2024
3. The CT600 company tax return for the year ended 31 December 2024
Please follow the instructions on the DocuSign screen and once everything is complete a final signed PDF copy will be returned to you for your records.
Please let me know if you have any queries.
Yours sincerely
Emma Fowler
Michael G Benson BSc PhD ACA Steve A Williams BSc FCA MS Partners Limited
Murray Smith is the trading name of Murray Smith LLP, a limited liability partnership,
which is registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Registered office: Darland House, 44 Winnington Hill, Northwich, Cheshire, CW8 1AU
Registered in England and Wales under number OC 315607
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**REGISTERED COMPANY NUMBER: 03784804 (England and Wales) REGISTERED CHARITY NUMBER: 1080512**
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
**REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|11|
|**Detailed Statement of Financial Activities**||12||
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity is overseen by the 3 trustees but the day to day running and decisions are made by the 3 primary managers - the resident teacher, Education Programme Coordinator and the Administrative Director. We have an AGM each year where all the managers, trustees, treasurer and charity members (which include all the resident teachers of all the other UK Kadampa Centres) meet to discuss the year and check the accounts. Trustees are appointed by being proposed by a manager or current trustee and then seconded by another. Each trustee can only serve on a 3 year basis other than Tracey Oliver-Walsh who is appointed by the New Kadampa Tradition (the Buddhist tradition we are associated with). The treasurer provides the manager and the trustees with a monthly report giving an overview of the finances.
Our objectives are to provide affordable, practical and qualified meditation classes, courses and retreats to anyone within the Cheshire area both at our premises in Northwich and also to branch classes throughout the county. These events are offered to anyone, not just Buddhists.
Although we struggled a little for income as a result of the Covid pandemic we are now starting to see a return to financial growth and have begun to invest once again in our property and in our aims to provide the people of Cheshire with affordable and accessible meditation courses and classes.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03784804 (England and Wales)
## **Registered Charity number**
1080512
## **Registered office**
The Heysoms 163 Chester Road Northwich Cheshire CW8 4AG
## **Trustees**
J J Andrews (resigned 20/03/2024) M Christopherson B Johnson T Oliver - Walsh (appointed 20/03/2024)
## **Company Secretary**
C J Chapman
## **Independent Examiner**
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by:
C J Chapman - Secretary
Page 2
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **Independent examiner's report to the trustees of Odiyana Kadampa Meditation Centre Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicola Tucker
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
23 June 2025
Page 3
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
1,747
Other trading activities
3
27,134
Investment income
4
39,555
**Total**
68,436
**EXPENDITURE ON**
**Charitable activities**
5
Other costs
23,574
Office costs
25,145
Projects & activities
18,266
**Total**
66,985
**NET INCOME/(EXPENDITURE)**
1,451
**RECONCILIATION OF FUNDS**
Total funds brought forward
515,810
**TOTAL FUNDS CARRIED FORWARD**
517,261|2023
Total
funds
£
1,862
27,595
43,678
73,135
20,865
55,052
24,426
100,343
(27,208)
543,018
515,810|
|---|---|
The notes form part of these financial statements
Page 4
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **BALANCE SHEET 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
372,804
**CURRENT ASSETS**
Debtors
11
1,800
Cash at bank and in hand
146,097
147,897
**CREDITORS**
Amounts falling due within one year
12
(3,440)
**NET CURRENT ASSETS**
144,457
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
517,261
**NET ASSETS**
517,261
**FUNDS**
13
Unrestricted funds
517,261
**TOTAL FUNDS**
517,261|2023
Total
funds
£
378,307
-
138,757
138,757
(1,254)
137,503
515,810
515,810
515,810
515,810|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 June 2025 and were signed on its behalf by:
T Oliver-Walsh - Trustee
The notes form part of these financial statements
Page 5
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 '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.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Income with related expenditure
Where income has related expenditure the income and related expenditure is reported gross in the Statement of Financial Activities.
## Donations and legacies
Voluntary income by way of grants, donations and gifts is included in the Statement of Financial Activities when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on donations and gifts
Income from tax reclaims is included in the Statement of Financial Activities at the same time as the gift/donation to which it relates.
## Volunteer help
The value of any volunteer help received is not included in the accounts. Investment income
This is included in the accounts when receivable.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## Expenditure on raising funds
These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
## Expenditure on charitable activities
These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objectives, including the making of grants and governance costs.
## Grants payable
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs
These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other costs
These are support costs not allocated to a particular activity
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 33% on cost
continued...
Page 6
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
Fixtures and fittings - 33% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2. DONATIONS AND LEGACIES**
|Donations
**OTHER TRADING ACTIVITIES**
Shop income
Study programmes
Courses
Centre card
Fundraising
School visits
Laundry income
Tsog shop|2024
£
1,747
2024
£
452
11,529
7,970
985
4,575
137
756
730
27,134|2023
£
1,862
2023
£
585
11,493
7,196
1,070
4,880
390
735
1,246
27,595|
|---|---|---|
## **3. OTHER TRADING ACTIVITIES**
continued...
Page 7
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. INVESTMENT INCOME**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Rents received|35,450|41,890|
|Deposit account interest|4,105|1,788|
|39,555|43,678|
|5.|CHARITABLE ACTIVITIES COSTS|
|Direct|
|Costs|
|£|
|Other costs|23,574|
|Office costs|25,145|
|Projects & activities|18,266|
|66,985|
**----- End of picture text -----**
## **6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Depreciation - owned assets|5,881|7,085|
**----- End of picture text -----**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **8. STAFF COSTS**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Wages and salaries|6,440|7,800|
|6,440|7,800|
|The average monthly number of employees during the year was as follows:|
|2024|2023|
|Teaching|1|1|
**----- End of picture text -----**
No employees received emoluments in excess of £60,000.
continued...
Page 8
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Other costs
Office costs
Projects & activities
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2024
Additions
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for year
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|Freehold
property
£
389,903
-
389,903
11,596
5,798
17,394
372,509
378,307|Plant and
machinery
£
1,721
378
2,099
1,721
83
1,804
295
-|Unrestricted
fund
£
1,862
27,595
43,678
73,135
20,865
55,052
24,426
100,343
(27,208)
543,018
515,810
Fixtures
and
fittings
Totals
£
£
9,731
401,355
-
378
9,731
401,733
9,731
23,048
-
5,881
9,731
28,929
-
372,804
-
378,307|
|---|---|---|---|
## **10. TANGIBLE FIXED ASSETS**
continued...
Page 9
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income
**13.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
515,810
**TOTAL FUNDS**
515,810
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
68,436
**TOTAL FUNDS**
68,436
**Comparatives for movement in funds**
At 1.1.23
£
**Unrestricted funds**
General fund
543,018
**TOTAL FUNDS**
543,018|2024
2023
£
£
1,800
-
2024
2023
£
£
1,800
-
1,640
1,254
3,440
1,254
Net
movement
At
in funds
31.12.24
£
£
1,451
517,261
1,451
517,261
Resources
Movement
expended
in funds
£
£
(66,985)
1,451
(66,985)
1,451
Net
movement
At
in funds
31.12.23
£
£
(27,208)
515,810
(27,208)
515,810|
|---|---|
continued...
Page 10
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
73,135
73,135|Resources
Movement
expended
in funds
£
£
(100,343)
(27,208)
(100,343)
(27,208)|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
## **15. LEGAL STATUS OF ODIYANA KADAMPA MEDITATION CENTRE LTD**
Odiyana Kadampa Meditation Centre Ltd is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
Page 11
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Other trading activities**
Shop income
Study programmes
Courses
Centre card
Fundraising
School visits
Laundry income
Tsog shop
**Investment income**
Rents received
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Rates and water
Insurance
Advertising
Books
Tsog shop
Accountancy
Teachers expenses
Travel
Sponsorship
Course expenses
Offerings
Donations
Repairs and maintenance
Bank interest and charges
Printing, postage & stationary
Freehold property
Plant and machinery
Fixtures and fittings
Total resources expended
**Net income/(expenditure)**|2024
£
1,747
452
11,529
7,970
985
4,575
137
756
730
27,134
35,450
4,105
39,555
68,436
6,440
12,353
1,509
1,683
1,142
498
1,330
4,346
279
3,053
1,427
4,134
9,340
12,792
66
712
5,798
83
-
66,985
66,985
1,451|2023
£
1,862
585
11,493
7,196
1,070
4,880
390
735
1,246
27,595
41,890
1,788
43,678
73,135
7,800
9,701
1,645
1,110
1,250
651
1,962
5,830
242
3,254
2,554
6,099
5,066
45,351
52
691
5,798
123
1,164
100,343
100,343
(27,208)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**REGISTERED COMPANY NUMBER: 03784804 (England and Wales) REGISTERED CHARITY NUMBER: 1080512**
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
**REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|11|
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD (REGISTERED NUMBER: 03784804)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity is overseen by the 3 trustees but the day to day running and decisions are made by the 3 primary managers - the resident teacher, Education Programme Coordinator and the Administrative Director. We have an AGM each year where all the managers, trustees, treasurer and charity members (which include all the resident teachers of all the other UK Kadampa Centres) meet to discuss the year and check the accounts. Trustees are appointed by being proposed by a manager or current trustee and then seconded by another. Each trustee can only serve on a 3 year basis other than Tracey Oliver-Walsh who is appointed by the New Kadampa Tradition (the Buddhist tradition we are associated with). The treasurer provides the manager and the trustees with a monthly report giving an overview of the finances.
Our objectives are to provide affordable, practical and qualified meditation classes, courses and retreats to anyone within the Cheshire area both at our premises in Northwich and also to branch classes throughout the county. These events are offered to anyone, not just Buddhists.
Although we struggled a little for income as a result of the Covid pandemic we are now starting to see a return to financial growth and have begun to invest once again in our property and in our aims to provide the people of Cheshire with affordable and accessible meditation courses and classes.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD (REGISTERED NUMBER: 03784804)**
## **REPORT OF THE TRUSTEES**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03784804 (England and Wales)
## **Registered Charity number**
1080512
## **Registered office**
The Heysoms 163 Chester Road Northwich Cheshire CW8 4AG
## **Trustees**
J J Andrews (resigned 20/03/2024) M Christopherson B Johnson T Oliver - Walsh (appointed 20/03/2024)
## **Company Secretary**
C J Chapman
## **Independent Examiner**
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by:
C J Chapman - Secretary
Page 2
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **Independent examiner's report to the trustees of Odiyana Kadampa Meditation Centre Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicola Tucker
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
23 June 2025
Page 3
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
1,747
Other trading activities
3
27,134
Investment income
4
39,555
**Total**
68,436
**EXPENDITURE ON**
**Charitable activities**
5
Other costs
23,574
Office costs
25,145
Projects & activities
18,266
**Total**
66,985
**NET INCOME/(EXPENDITURE)**
1,451
**RECONCILIATION OF FUNDS**
Total funds brought forward
515,810
**TOTAL FUNDS CARRIED FORWARD**
517,261|2023
Total
funds
£
1,862
27,595
43,678
73,135
20,865
55,052
24,426
100,343
(27,208)
543,018
515,810|
|---|---|
The notes form part of these financial statements
Page 4
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD (REGISTERED NUMBER: 03784804)**
## **BALANCE SHEET 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
372,804
**CURRENT ASSETS**
Debtors
11
1,800
Cash at bank and in hand
146,097
147,897
**CREDITORS**
Amounts falling due within one year
12
(3,440)
**NET CURRENT ASSETS**
144,457
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
517,261
**NET ASSETS**
517,261
**FUNDS**
13
Unrestricted funds
517,261
**TOTAL FUNDS**
517,261|2023
Total
funds
£
378,307
-
138,757
138,757
(1,254)
137,503
515,810
515,810
515,810
515,810|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 June 2025 and were signed on its behalf by:
T Oliver-Walsh - Trustee
The notes form part of these financial statements
Page 5
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 '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.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Income with related expenditure
Where income has related expenditure the income and related expenditure is reported gross in the Statement of Financial Activities.
Donations and legacies
Voluntary income by way of grants, donations and gifts is included in the Statement of Financial Activities when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on donations and gifts
Income from tax reclaims is included in the Statement of Financial Activities at the same time as the gift/donation to which it relates.
Volunteer help
The value of any volunteer help received is not included in the accounts. Investment income
This is included in the accounts when receivable.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## Expenditure on raising funds
These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
## Expenditure on charitable activities
These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objectives, including the making of grants and governance costs.
Grants payable
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs
These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other costs
These are support costs not allocated to a particular activity
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 33% on cost
continued...
Page 6
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
**Tangible fixed assets** Fixtures and fittings - 33% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2. DONATIONS AND LEGACIES**
## **3.**
|Donations
**OTHER TRADING ACTIVITIES**
Shop income
Study programmes
Courses
Centre card
Fundraising
School visits
Laundry income
Tsog shop|2024
£
1,747
2024
£
452
11,529
7,970
985
4,575
137
756
730
27,134|2023
£
1,862
2023
£
585
11,493
7,196
1,070
4,880
390
735
1,246
27,595|
|---|---|---|
continued...
Page 7
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. INVESTMENT INCOME**
|Rents received
Deposit account interest
**5.**
**CHARITABLE ACTIVITIES COSTS**
Other costs
Office costs
Projects & activities
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2024
£
35,450
4,105
39,555
2024
£
5,881|2023
£
41,890
1,788
43,678
Direct
Costs
£
23,574
25,145
18,266
66,985
2023
£
7,085|
|---|---|---|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **8. STAFF COSTS**
|**STAFF COSTS**||
|---|---|
|Wages and salaries|2024
2023
£
£
6,440
7,800|
||6,440
7,800|
|The average monthly number of employees during the year was as follows:||
|Teaching|2024
2023
1
1|
No employees received emoluments in excess of £60,000.
continued...
Page 8
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Other costs
Office costs
Projects & activities
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2024
Additions
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for year
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|Freehold
property
£
389,903
-
389,903
11,596
5,798
17,394
372,509
378,307|Plant and
machinery
£
1,721
378
2,099
1,721
83
1,804
295
-|Unrestricted
fund
£
1,862
27,595
43,678
73,135
20,865
55,052
24,426
100,343
(27,208)
543,018
515,810
Fixtures
and
fittings
Totals
£
£
9,731
401,355
-
378
9,731
401,733
9,731
23,048
-
5,881
9,731
28,929
-
372,804
-
378,307|
|---|---|---|---|
## **10. TANGIBLE FIXED ASSETS**
continued...
Page 9
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
|**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income
**13.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
515,810
**TOTAL FUNDS**
515,810
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
68,436
**TOTAL FUNDS**
68,436
**Comparatives for movement in funds**
At 1.1.23
£
**Unrestricted funds**
General fund
543,018
**TOTAL FUNDS**
543,018|2024
2023
£
£
1,800
-
2024
2023
£
£
1,800
-
1,640
1,254
3,440
1,254
Net
movement
At
in funds
31.12.24
£
£
1,451
517,261
1,451
517,261
Resources
Movement
expended
in funds
£
£
(66,985)
1,451
(66,985)
1,451
Net
movement
At
in funds
31.12.23
£
£
(27,208)
515,810
(27,208)
515,810|
|---|---|
continued...
Page 10
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
## **ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
73,135
73,135|Resources
Movement
expended
in funds
£
£
(100,343)
(27,208)
(100,343)
(27,208)|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
## **15. LEGAL STATUS OF ODIYANA KADAMPA MEDITATION CENTRE LTD**
Odiyana Kadampa Meditation Centre Ltd is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
Page 11
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
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Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
24-06-2025
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**Odiyana Kadampa Meditation Centre Ltd Tax District: 922 FICO Tax Reference: 4003901804**
**Corporation Tax Computation For The Corporation Tax Accounting Period from 1 January 2024 to 31 December 2024**
Murray Smith LLP Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **TAX DISTRICT: 922 FICO TAX REFERENCE: 4003901804**
## **CORPORATION TAX COMPUTATION FOR THE CORPORATION TAX ACCOUNTING PERIOD FROM 1 JANUARY 2024 TO 31 DECEMBER 2024**
## **Contents**
|Corporation Tax Summary|Page 3|
|---|---|
|Note 1 - Corporation Tax Chargeable|Page 4|
|Note 2 - Trading Profit (Loss)|Page 4|
Page 2
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **TAX DISTRICT: 922 FICO TAX REFERENCE: 4003901804**
|**CORPORATION TAX COMPUTATION**
**FOR THE CORPORATION TAX ACCOUNTING PERIOD**
**FROM 1 JANUARY 2024 TO 31 DECEMBER 2024**
**(continued...)**
**CORPORATION TAX SUMMARY**
**Note**
**£**
**INCOME**
Net Trading profit
2
0
PROFITS CHARGEABLE TO CORPORATION TAX
**CORPORATION TAX CHARGEABLE**
1
0.00
**NET CORPORATION TAX CHARGEABLE**
**CORPORATION TAX OUTSTANDING**
**due by 1 October 2025**|**£**
0
0.00
NIL|
|---|---|
Page 3
Docusign Envelope ID: B8A33759-D9E8-4B4F-99E8-2887194D825C
**ODIYANA KADAMPA MEDITATION CENTRE LTD**
## **TAX DISTRICT: 922 FICO TAX REFERENCE: 4003901804**
## **CORPORATION TAX COMPUTATION FOR THE CORPORATION TAX ACCOUNTING PERIOD FROM 1 JANUARY 2024 TO 31 DECEMBER 2024**
**(continued...)**
## **1 CORPORATION TAX CHARGEABLE**
MEMO: THERE ARE NO ASSOCIATED COMPANIES
**£** 0.00
## **2 TRADE PROFIT (LOSS)**
Profit per financial statements Net trading profit
**£ £** -
0
Page 4