COMPANY REGISTRATION NUMBER: 042712D3 CHARITY REGISTRATION NUMBER: 1089869 Uma Kadampa Meditation Centre Company Limited by Guarantee Unaudited Financial Statements 31 December 2024 Chartered accountants Briar Lea House Brampton Road Longtown Carlisle Cumbria CA6 5TN
Uma Kadampa Meditation Centre Company Llmited by Guarantee Financial Statements Year ended 31 December 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 10 The following pages do not form part of the financial statements Detailed statement of financial activities 20 Notes to the detailed statement of financial activities 22
Uma Kadampa Meditation Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 December 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Referance and admlnistrativè datalls Registered charity namo Uma Kadampa Meditatlon Centre Charfty reglstration number 1089869 Company reglstratlon number 04271203 Princlpal offlce and regl8tered 16-18 Spencer Street office Carlisle Cumbrla CA1 1BG The trustee8 AERPJones D N Stones T Oliver-W8lsh LM Devine BJ Strotton (Resigned 21 April 2024) (Resigned 5 September 2024) (Appointed 5 September 2024) (Appointed 21 April 20241 Company secrelary T Oliver-Wa15h Independ•nt examlner Mr RW Gordon. FCA Briar Lea House 8rampton Road Longtown Carlisle Cumbria CA6 5TN Structure, gov¢rnanc¢ and management Governlng Document The charity, Uma Kadampa Meditation Centre is a charltable company Ilmlted by guarantee,. incorporated on 15th August 2001 und&r the Companies Act 1985, as a private limited company. It was registered as a charity on 19th D8c8mber 2001. Originally incorporated as Urna Buddhist Centr8 the n8me was changed by special resolulion on the 24th September 2014. The company was establish8d under a Memorandum of Association, which established the objects and powers of the charrtable company and Is governed under its Articles of Association, as amended by special resolutions on 6th February 2004 and 6th November 2020. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Uma Kadampa Meditation Centre Company Lirnited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (conUnu•dJ Year ended 31 December 2024 Structure? governance and management {contlnu•d) Recrultment and Appolntment of Management Commlttèe Trustees are recruited from within the Centre or from oth8r similar centres so that they have knowledg8 and understanding of the charitys aims and workings. To be 81ected or appointed as a truste8, the nominee must be a member of the charity and are elected by the members 8t the Annual G8neral Meeting or by the trustees and other members of the organlsation, in particular the Administrative Director and Resident Teacher, who have experience within the organisation. The number of Directors shall be three, hNo of whom must be Members land nonrally Local Members) and shall be elected by members of the charity. The third Director shall be an ex offico Dlrector and must b8 the duly appointed Administrative Dir8Ctor of a major NKf-IKBU Kad8mpa Medltatlon Centre in the United Kingdom, as sp8cifi8d in the Artic18s of Assoclatlon. Nelther th8 Splrltual Director nor the Administrative Director not the Resident Teacher of the Charity may be a director. Related Charltles The charity is a member of the New Kadampa Tradition International Kadampa Buddhist Union I'NKT-IKBU). which is made up of the many centres throughout the world wlth the same objects, however they are independent charities lined only by their objects and there is no financial dependency although funds may pass between centres to fulfill aims and obj8Ctives. Trustoe Inductlon and tralnlng Every trustee must be familiar wllh the practlcal work of the charity and the Now Kadarnpa Tradition Inlernational Kadampa Buddhist Union INKT-IKBU). The trustees 8re familiar with the Memorandum and Articles of the charity, understand thèir obligations as Management Committee members and are aware of the current financial position of the charity. In addits-on they must have read, understood entirely and accepted the Internal Rules of NKT-IKBU. Organlsatlonal Structure The board of Directors shall appoint an Adrninistrative Director and shall delegate the responsibility for all day-to-day man8gament of the charity to himlhar. The day-to-d8y activit188 and affairs of the charity shall be conducted and all corresponcjing corporat8 powers shall be ex8rcis8d by thè Administr8tiv& Director, in consullation with the trustees. The charity is affiliated with the Naw Kadampa Tradition charity, which is a parent organisation for the centres of the Nlff-IK8U worfdwide. As an affiliated cenlre, Uma Kadampa Meditation Centre follows and acis in accordance with th8 Intemal Rules of Nlff-IKBU. Relatsd Partles and co-operatlon wlth other organlsatlon8 None of the trustees receive a remuneraticn or other benefit from their work with the charity, Uma Kadampa Meditation Centre also occasionally cooperates with the New Kadampa Tradition Charity, and the other NKT-IK8U centres worldwide, for example when organising events. Pay pollcy for senlor staff The directors who are the charitvs trustees, and the senior management team comprise of the key rnanagernent personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All Directorsrtrustees give of their time fr8ely and no directorltrustee received any remuneration in Ihe year.
Uma Kadampa Meditation Centre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu•dJ Year ended 31 December 2024 structure, governance and management (contlnu•d) Rlsk Management The truslees have a risk management strategy which comprises of: -regular reviews of the principal risks and uncertainties that may face the charity. -the establishment of policies, systems and procedures to mltigate any risks identified In regular reviews" -and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. Obloctlvos and actlvltles The compan$ objects and principal actlvitles aro to". To promote the Buddhist Faith under the spiritual guidance of the elected Gener81 SpiritU81 Director of the New Kadampa Tradition - International Kadampa Buddhist Union (NKT-IKBUI prln¢ipally through the activities of teaching, study, practice and the observance of mora5 discipline all within the Mahayana Buddhist tradition of Atisha and Je Tsongkhapa as taught by Venerable Geshe Kelsang Gyalso, the founder of the New Kadamp8 Tradition - International Kadampa Buddhist Union, through the continuous implernentation of the three study prograrnmes,. the General Prograrnme, the Foundation Programme and the Teacher Training Programme, all as defined in Schedule A. Schedule A The General Programme provides a basic introduction to Buddhist View and meditation that is suitable for beginners. The Foundation Programme provides an opportunlty to deepen our understanding and experience of Buddhism through the systematic study of Buddhist texts, The Teacher Training Prograrnme provides an opportunity to deepen our understsnding and experience of Buddhism through the systematic study of Buddhists texts. Volunteers The charity makes significant use of volunteers in all 8re8s of its activities. All General Programme classes held outsid8 the centr8 are t8ught on a voluntary basis with support from local class memb8rs. The centre itself also regularly makes use cf volunteers in many areas, ranging from occasional help, through regular help, to full-time work on specific projects. Publlc 8enellts In exercising their powers and duties, the Irustees have had due regard to the guidance on public benefit published by the Charity Commission. They believe th8t the work of the charty in promoting the Buddhist faith has clearly identifiable benefits, The charity believes that there are three important public benefits to promoting the Buddhist faith: to help people to develop thelr wlsdom, to cultlvate a good heart, and to maintain a peaceful mind. If we do not strSve to develop our w5sdom, we will aayS remain ignorant to the true nature of reality. Everyone wisttes for happiness, but our ignorance or reality leads us to engage in non-virtUOUS 8Ctions. which in turn are the main caus8 of all our suff8ring. Further. if we do not cultivate a good heart lowards othèrs, th&n our sèlfish motivation d8Stroys thè harmony of our relationships with others. We then have no peace, and no chance to gain pure happiness. Without inner p8ace, outer peace is impossible. both personally and throughout society. Benefit to the Publlc The charity offers regular courses of instruction in Buddhist philosophy, psychology 8nd meditab'on, bringing personal and social benefit. These courses are accessible to the public for modest fees. The more advanced courses of instruction require a greater commitment of personal time from participants. The charity also maintains a year-round programme of seNices of prayer and meditation, again open to the public.
Uma Kadampa Meditation Centre Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (contlnued) Year ended 31 December 2024 Achlevements and p•rfomian¢e There were significant changes made in 2024 in order to improve the spiritual and materi81 d8V81opment of the centre. A new Resident Teacher and Admin Director were appointed in June 2024. The education programme was expanded to offer new and more classes to attract more students to the centre. This included trialling classes in various locations throughout North and West Cumbria. The two SUCC8ssful branch locations that continued to operat& at the end of 2024 were Penrith and Workington. Renovations were made to update some of the public area of tha centre. This included re-decorating and modernising the lounge and main entrance and halbNay. We continued to engage with the wider communlty by partaklng In numerous schod vlsits and Gommunity events. Flnanclal r•vl•w The trustees were satSsfied with the results for the year, accepting that the loss incurred, of £8,0140, although significant, is due to the unavoidable increases in loan interest rates and the increas8d cost of living in the UK. Planning ahead, the Trustees will be looking into suitable methods for making savings and increasing income. Our prlcing pollcy Our pricing policy refl8Cts our strategy of enabling all within our community, whatever their means, to take part in our activities, to attend our meditation classes and courses, concessionary admittance to these events is available on requesl. No one is turned away for genuine lack of funds. To view our programme, and for further detsils of entrance fees, visit our website uma.org.uk or telephone our offlce, 01228 319344 or email info@um8.org.uk, for the centre opening times check our website. Inv•stm•nt powers and pollcy The trustees, having regard to the liquidity requirements of operating the charity, have kept available funds in an interest-bearing deposit account and seek to achieve a rate of deposit which matches or exceeds inflation as measured by the retail prices index. Due to wider economiG circumstances deposit rates have been depressed and so this aim was not achieved in the year. Reserves pollcy and golng concern The Board of Directorsltrustees ensures that there are sufficient reser4es available to bridge the gap been the spending and receiving of income, an(5 to cover any unplanned repairs and other expenditure in unrestricted funds based on previous year's expenditure and current budgets. Thes8 standards are set out in the Money Handbook issued by the NKf-IKBU. The directors are of the view that the Charity is a going concern. based on tha relative stability in the activitles of th8 charity. Prlnclple Fundlng Sources All income in the year came from charitable activities,. no funding w8s r8ceived from outside sources.
Uma Kadampa Meditation Centre Company Limited by Guarantee Trust8es' Annual Report (Incorporating the Director's Report) (contlnu•dJ Year ended 31 December 2024 Plans for future perlods The charity will work to continue to increase the attendance at the three study programmes and increase volunteer engagement in the organlsation and running of the centre. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustaes, annual report was approv8d on 28 Fèbruary 2025 and signed on behalf of the board of trustees by.. D N Stones Trustee
Uma Kadampa Meditation Centre Company Limited by Guarantee Statement of Financial Activlties (including income and expenditure account) Year ended 31 December 2024 2024 Unrestricted funds Total funds Total funds 2023 Noto Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 11,358 14,194 37,149 355 11,358 14,194 37,149 355 3,829 13,5Q5 36,590 348 Total Income 63,056 63,056 54,272 Expendltura Expendlture on charitable actlvlties Total expendlture 9,10 71,070 71,070 62,122 62,122 71,070 71,070 Net expendlture and n¢t movement In funds 18,014) (8,014) (7,850) Reconclllatlon of funds Total funds broughl forward Total funds carrlod forward 51,444 51.444 59,294 43,430 43,430 51.444 Tho statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 10 10 18 forni part of th•s• flnanclal ststements.
Uma Kadampa Meditation Centre Company Limited by Guarantee Statement of Financial Posltlon 31 December 2024 2024 2023 Note Flxed assets Tangible fixed assets 14 228,000 229,500 Current assets Stocks D8btors Cash at bank and in hand 15 16 500 963 21,913 1,344 1,026 39,571 23,376 41,941 Credltors: amounts falling due wlthln one year Not curr•nt assets 17 7,149 16,227 12,551 29,390 Total assets less current Ilabllltles 244,227 258,890 Credltors: amounts falling due aft•r mor• than one yoar Net assets 18 200.797 207,446 43,430 51,444 Funds of the charlty Unrèstricted funds 43,430 51,444 Total charlty lunds 19 43,430 51,444 For the year ending 31 December 2024 the charity was entltled to exemption from audit under section 477 of the Companies Act 2006 relating to small companles. DireGtors' re5ponsibilitie5'. Th8 members have not raquSred the company to obialn an audli of Its flnanclal statements for the year in questson in accordance wtth section 476,. The directors acknowledge their responsibilities for complying with the requirements of the Aci with respect to accounting records and the prepar8tion of fin8ncial statements. These financial statements have been prepared in accordance with the provisions appllcable lo companies subject to the small companlés, regime, The statement of financial position continues on the following page. The not¢$ on page$ 10 to 18 fonn part of these flnan¢lal statements.
Uma Kadampa Meditation Centre Company Limited by Guarantee Statement of Flnancial Posltlon f¢ontinugd) 31 December 2024 These financial SleMents were approved by the board of trustees and authorised for issue on 28 February 2025, and are signed on beh81f of the board by.. DNSton Trustee The notes on pages 10 to 18 form part of these financial statoments.
Uma Kadampa Meditation Centre Company Lirnited by Guarantee Notes to the Financial Statements Year ended 31 December 2024 General Informatlon The charity is a public benefit entlty and a private company limited by guarantee, registered in England and Wales and a registered charlty In England and Wales. The address of the registered office is 16-18 Spen¢8r Street, Carllsle, Cumbria, CA11 BG. statement of compliance These financial statements have been prepared in complianc8 With FRS 102. 'The Financial Reporting Standard applicable in the UK and tha Republic of Ireland., thè Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Compani8s Act 2006. Accountlng policies Ba818 of preparatlon Th8 financial statements have been prepared on the historical co8t basis, as modified by th& revaluation of certain financial assets and liabilities and investment properti88 measured at fair value through income or expenditure. The financlal stat8m8nts are prepared In sterllng, whlch Is th8 functlonal currancy of the entity. Golng concern There are no material uncertainlies about the charitls ability to continue. Dl$¢lo8ure exempllon8 The entlly satlsfles the crlterla of belng a qualifying entity as defined in FRS 102. As such, advantage has bean t8k&n of the following disclosure exemptlons av8ilable under paragraph 1.12 of FRS 102.. la) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estlmatlon uncertalnty The preparatlon of the financial slatements requires man8gemenl to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continualty reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 10
Uma Kadampa Meditation Centre Company Llmlted by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 December 2024 Accountlng pollcles (contlnued) Fund accountlng Unrestricted fiJnds are available for use at the discretion of Ihe trustees to further any of the charitys purposes. Designated funds are unrestricted fund5 earmarked by the trustees for particular future project or commitment. R8Stricted funds ar8 subj8Cted to r8Strictions on their expenditur8 d8clar8d by th8 donor or through the t8rms of an appeal. and f811 into one of two sub-classes.. restricted income funds or endowment funds. Incoming rnsourcas All incoming rèsources 8r8 includ8d in the statem8nt of financi81 activities when entitlement has passèd to the charity,. it Is probable that thé economic banefils associated with the tr8nsactlon wlll flow 10 the charity and the amount can be rellably measured. The followlng speclfic policles are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt Is probable and it5 amount Gan be measured reliably. legacy income is recognised when receipt is probable and ents'llernerit is established. income from donated goods is measured at the falr value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale velue. Donated facilities and services are recognised in the accounts when received if the value can be reliably Measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seiceS is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which cese it may be regarded as restricted. 11
Uma Kadampa Meditation Centre Company Limited by Guarantee Notes to the Financial Statements fGontlnu•d) Year ended 31 December 2024 Accountlng pollcles {Gontlnuoal) Resources expended Expenditure is recognised on an accruals basls as a liablllty Is Incurr8d. Expenditure include8 any VAT which cannot be fulty recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising actlvlties, events, non- charitable tradlng activities, and the sale of donated goods. expenditur8 on Charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. other exp8ndlture includes all expendlture that Is nelther related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expendlture categories reflecting the use of the resource. Direct costs 8ttributable to a single activity are alSocat8d directly to that activity- Shared costs are apportioned between the activitie5 they Gontribute lo on a reasonable, juslifiable and consistent basis. Tanglbla assats Tangible assets are initialty recorcled 8t cost, and subsequently stated at cost less any accumuleted depreciation and impaiment l¢)sses. Any tangible assets carrSed at revalued amounts are recorded at the fair value at the date of revaluatlon less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. An Increas8 in thè carrying amount of an assét as 2 résult of a r8valuation, Is recognised in other racognised gains and losses. unless it reverses a charge for impairrnent that has pr8viously b8@n recognlsed as expenditure within the statement of financial actlvities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to vthich it offsets any previous revalu8tion gain, in which case the loss is shown within other recognised galns 8nd losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows,. Freehold property Motor vehiGles 2 % strai9ht line 250/0 Straight line Impalrment of fixed assets A review for indicators of impalrment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying valuè exceeds the r8COV8rable amount, the asset is impaired accordingly, Prior impaimients 8r8 also reviawed for possible reversal at each reporting date. 12
Uma Kadampa Medltation Centre Company Llmited by Guarantee Notes to the Flnanclal Statements f¢ontinued) Year ended 31 December 2024 Accountlng pollcles (contlnu8d) Impalrment of flxed assets (contsnu•d) For the purpos8s of impairm8nt t8sting, when It Is not FK)ssib18 to estimate th8 r8COV8rabl8 amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The CaShenerating unit 18 the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of Ihe cash inflows from other assets or groups of a5seis. For impairmenl testing of goodwill, the goodwill acquired in a business combination is. from the 8CqUlSltion date, allocated to @ach of th8 cash-generating units that are expec18d to benefit from the synergies of the combination, irrespective of vthether other assets or liabilities of the charity ar6 asslgned to those units. Stocks Stocks are measured al the lower of cost and estimated selling prlce less costs to complete and sell. Cost includes all costs of purchase. costs of conversion and othèr costs Incurred In brlnglng the stock to its present location and condltion. Flnanclal In8trum•nt8 A financ[81 asset or a financlal Ilablllty Is recognlsed only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instrumenl5 are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subs8quently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortlsed cost. Where investments in shares are publicly Iraded or their f8ir value can othen•vise be measured reliably, the investment is subsequently measured at fair value with chan98s in fair valu8 recognised in income and expenditure. All other such invegtm8nts arè subs8qu&ntly measured at cosl less impairment. Othèr financial instruments, including derivatives, are initially recognised at f8ir value, unless payment for an asset is deferred beyond nomi81 business terms or financed at a rate of Interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for 8 similar debt instrument. Other financial instruments are subsequently m8asured at fair value, with any changes recognised in the 5latemenl of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at C05t or amortised cost are reviewed for objectiv8 evid8nc8 of impairment at the 8nd of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of fi'nancial activits'es in which the initial gain was recognised. 13
Uma Kadampa Meditation Centre Company Limited by Guarantee Notes to the Financial Statements (conilnued) Year ended 31 December 2024 Accountlng pollcles fcontlnuedj Flnanclal Instruments (contlnu•d) For all 8qulty instruments r8gardless of significance, and oth8r financial assets that are indlvldually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characterlstlcs. Any reversals of impairment are recognised immediat81y, to the extent thal the reversal does not result in a carrying amount of th8 financial asset that 8xce8ds what the carrying arnount would have been had the impairment not previously been recognised. Llmlted by guarantee The company Is limlted by guarantee and does not have a share capital. The liability of the members in the event of the cornpany being liquidated is limited to £1 per member. Donatlons and l•ga¢l•s Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Donallons Donations 8,000 6,000 Other donatlons and legacle8 Designated funds General funds Gift Aid Membership fees 313 4,574 458 13 313 4,574 458 13 1,392 1,308 1,117 12 1,392 1,308 1,117 11,358 11,358 3,829 3,829 Charltable actlvltles Unrestricted Total Fund8 Unrestricled Total Funds Funds 2024 Funds 2023 Meditation retreats General Programm8 Lunchtime Meditstion Foundation Program Monthly Membership fees School Visit5 Kid5 Club Day l Half Day Courses Empcwemient 790 4,786 475 1,837 3,591 790 4,786 475 1,837 3.591 378 3,285 378 3,285 684 3,990 2,560 76 3,990 2,560 76 408 1,461 408 1,461 2,064 468 2,064 468 14,194 14,194 13,505 13,505 14
Uma Kadampa Meditatlon Centre Company Llmlted by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 December 2024 Other tradlng act5vities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fundraising events Dharma Shop income Miscellaneous shop income Casual accomodation Residents rent Residents rent sponsorship Residents utilities income Residents utllitles sponsorshlp Residents council tax Residents council lax sponsorshlp Laundry income 782 121 50 19,071 5,792 6.829 1.980 1.733 543 248 782 121 50 19,071 5,792 6,829 1,980 1,733 643 248 706 187 270 21,769 4,830 5,493 1,260 1,380 315 376 706 187 270 21,769 4,830 5,493 1,260 1,380 315 376 37,149 37,149 36,590 36,590 Inv88tment Incom• Unrestricted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest recéivable 355 355 348 348 Expendlture on charitable activlties by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities Support costs 69,210 1,860 69,210 1,860 71,070 61.762 360 61,762 360 71,070 62,122 62,122 10. Expenditure on charltable actlvltles by actlvlty type Activities und8rt8ken directly Support costs Total funds 2024 Tot81 fund 2023 Charitable actlvities Governance costs 69,210 69.210 1.860 61,762 360 1,860 69,210 1,860 71,070 62,122 15
Uma Kadampa Meditation Centre Company Limited by Guarantee Notes to the Flnancial Statements (conllnu•d) Year ended 31 December 2024 11. Net expenditure Net expenditure is stated after chargingl(credltlng)= 2024 2023 Depreciation of tangible fixed assets 7.500 6,000 12. Indopondent examlnatlon fogs 2024 2023 Fees payable to the independent exarniner for.. Independent examination of the financial staternents 360 360 13. Tru6tee remuneratlon and expenses No remuneration or other benefits from employment with the charlty or a related entlty were received by the trustees, 14. Tanglble fixed assati Fr8ehold property Motor vehlcles Total Cost At 1 January 2024 Additions 300,000 300,000 6,000 306,000 6,000 6,000 At 31 December 2024 300,000 Depreclatlon At 1 January 2024 Charge for the year At 31 Dacembor 2024 70,500 6,000 70,500 7,500 78,000 1,500 1,500 76,500 Carrylng amount At 31 December 2024 223,500 4,500 228,000 229,500 At 31 December 2023 229,500 15. Stocks 2024 2023 Raw materials and consumables 500 16
Uma Kadampa Meditation Centre Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2024 16. Debtors 2024 2023 Trade debtors Prepayments and accrued income 963 1.026 963 1,026 17. Creditor5: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Trade Creditors Accruals and deferred income Other creditors 6,179 610 360 5,710 4,486 360 1,995 12,551 7,149 18. Credltors: amounts falllng du• after morn than one year 2024 2023 Bank loans and overdrafts 200,797 207,446 The loan is secured on the property 'Uma Kadampa Meditation Centre., in favour of the Triodos Bank, over a period of 25 years. Th8 loan is repayable in 8qu81 monthly instalm8nls to Cover capital and interest. Interest only has been paid during the pandemic. 19. Analysls of charltable funds Unrestrlctad funds At 1 January 202 31 December 2024 Income Expenditure General funds 51,444 63,056 (71,070) 43,430 At 1 January 202 At 31 December 2023 Income Expenditure General funds 59,294 54,272 <62,122) 51,444 17
Uma Kadampa Meditation Centre Company Limlted by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2024 20. Analys18 of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors les5 than 1 year Creditors greater than 1 year Net assets 228,000 228,000 23,376 23,376 {7,149} (7,14g) 1200,7971 (200,797) 43,430 43,430 Unrestricted Total Funds Funds 2023 Tangible fixed ass8ts Current assets Creditors less Ihan 1 year Creditors grealer than 1 year Net assets 229,500 229,500 41,941 41,941 (12,5511 <12,551) (207,446) (207,446) 51,444 51,444 18
Uma Kadampa Meditation Centre Company Limited by Guarantee Management Information Year ended 31 December 2024 The followlng pages do not form part ol the flnanGlal statements. 19
Uma Kadampa Meditation Centre Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endowments Donatlons and le9aCi8S Donations Designated funds General funds Gift Aid Membership fees 6.000 313 4,574 458 13 1,392 1,308 1,117 12 11.358 3,829 Charitable activiti88 Meditation retreats General Programme Lunchtime Meditation Foundation Program Monthly Membership fees School Visits Kids Club Doy l Half Day Courses Empowerment 790 4.786 475 1,837 3,591 378 3,285 3,990 2,560 76 408 1,461 2,064 468 14.194 13,505 Other tradlng actlvltle8 Fundraising events Dharma Shop income Miscellaneous shop income Casual accomodation Residents rent Residents rent sponsorship Residents utilities income Residents utilities sponsorship Residents council tax Residents council tax sponsorship Laundry income 782 121 50 19,071 5,792 6,829 1,980 1,733 543 248 706 187 270 21,769 4,830 5,493 1,260 1,380 315 376 37,149 36,590 Invèstmènt Income Bank interest receivable 355 348 Total Income 63,056 54,272 20
Uma Kadampa Meditation Centre Company Limited by Guarantee Detailed Statement of Financial Activities (contlnu•d) Year ended 31 December 2024 2024 2023 Expendlture Expenditure on charitable activities Repairs and maintenance Other estsblishment Other motorltravel c¢)sts Legal and professional fees Other office costs Depreciation Interest on bank loans and overdrafts Advartising and publicity Venue Costs Course Costs Sponsorship Gifts Gompa 2.594 13.550 733 360 4,127 7,500 21,447 962 2,647 72 15,337 2.184 12.478 437 360 2.277. 6,000 21,769 1,150 2,773 127 11,188 91 1,288 1,741 71,070 62,122 Total expenditure 71,070 62.122 Not axpondlturn (8,014) (7.850) 21
Uma Kadampa Meditation Centre Company Llmlted by Guarantee Notes to the Detalled Statement of Flnanclal Activities Year ended 31 December 2024 2024 2023 Expendlture on charitable actlvltle8 Charitable actlvltles Actlvities undertaken dlrectjy Repairs & maintenance Premises Costs Motor arid travel costs Other office costs Depr8cialion Finan charges Advertising and publicity Venue Costs Course Costs Sponsorshlp Gifts Gompa 2,594 13,550 733 4,127 6,000 21,447 962 2.647 72 15,337 2,184 12,478 437 2,277 6,000 21,769 1,150 2,773 127 11,188 91 1,288 61,762 1,741 69,210 Govérnanco costs Govemance costs- 8ccountancy fèès Governance costs - depreciation 360 1,500 360 1,860 360 Expandlture on charltablg activities 71,070 62,122 22
Uma Kadampa Meditation Centre Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Uma Kadampa Meditation Centre Year ended 31 December 2024 I report to the trustees on my examination of the financial stat8ments of Uma Kadampa Meditation Centre {'the charity) for the year ended 31 December 2024. Responslbilltl88 and basls of report As the trustees of the company (and also its directors for the purposes of company law) you are responslble for the preparation of the financial st8tements in accordance with the requirements of the Companies Act 20061'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for indep8nd8nt examination, I report in respect of my examination of the charitls acGounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'l. 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 •xamin•rfs stat•m•nt I have completed my examlnatlon. I confim that no matters have come to my attention in connection wilh the examination givlng me cause to belleve: accounting records w8r8 not kept in respect of the charity as required by section 386 of the 2006 Act,, or the financial statements do not accord with those records. or the financial statements do not comply wlth the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts give a 'true and falrf vlew which Is not a matter considered as part of an independent examination. or the financial statements hav8 not bean prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charitSes preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 1021. 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 Ihe accounts lo be reached. Mr RW Gordon, FCA Independent Examiner Briar Lea House Brampton Road Longtown Carlisle Cumbria CA6 5TN