**Company Registration Number 04737200** 

## **KADAMPA MEDITATION CENTRE LONDON REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Registered Charity Number 1100615** 



KADAMPA MEDITATION CENTRE LONDON
CONTENTS
FOR THE YEAR ENDED 31" DECEMBER 2023
Contents
Trustees Annual Report
page 1-6
Independent Examiners Report to the Trustees
Pa8e 7
Statement of Financial Activities
p4e8
Balance Sheei
page 9
Notes to the Accounts
page I￿13

KADAMPA MEDITATION CENTRE LONI)ON
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31" DECEMBER 2023
The Trustees, who are also directors for the purpose of company law. have pleasure in presenting their report and
the unaudited financial statements of the charity for the financial year ended 31 December 2023.
REFERENCE AND AOMINisfRATIVE DEfAILS
Re8iStered Charity Name
Kadampa Meditètion Centre London
Company Re8iStration Nufflber
047372LN)
Registered Charity Number
IICl)615
Re8l$tered Offlce
la Ashridge Way
London
SM4 4EF
England
Trustees
The trustees who Se￿ed the charity during the period were as follows:
John McBretney
Gary Gallagher
Mary Diskin
Secretary
Jennrfer Andrews (retired 17IIV/231
Sarah Kneatsey (appointed 171111231
Independent Examiner
Alistairjenkins FCA
Bankers
National We5tmin5ter
York City Centre
l Market Street
YorkYOI 8SR

KADAMPA MEDITATION CENTRE LONDON
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31" DECEMBER 2023
srRucfuRE, GOVERNANCE AND MANAGEMENr
Governln8 Document
The Charity is constituted a5 a company limited by guarantee under the Companie5 Act and 8overned by its
Memorandum and Articles of A550Ciation and 15 a150 a registered charity.
Trustee Recrultmert afftd Training
Of the three trustees. two elected trustees are ￿CrUIted from within the Cent￿ or from other similar centres so that
they have knowledge and understanding of the charity's aims and workings. To be elerted or app04nted as a trustee,
the nominee must be a member of the charr(y and are elected by members èt the Annual General Meeting or by the
trustees when the need arises according to the Articles of Association. The third trustee is an ex-officio trusiee, bv
virtue of them being the Administrative Director of a centre specified in the Art￿leS of Association. Each new trustee
is guided by the current trustees and other members of the organisation. in particular the Administrative Direaor
and Resident Teacher. who have vast experience within the organisation.
Related Charities
The charity is a member of the New Kadampa Tradition- International Kadampa Buddhist Union I"NKf-IKBU~I,
which is made up of many centres throughout the world with ihe same objects. They are all independent charrties
linked only by their objects and there is no financial dependency, alihough funds may pass beiween centres to fulfil
aim5 and objectives.
OBJECTIVES AND ACTIVITIES
Objects
The objects of the charity are to promote the Buddhist faith under the spiritual guidance of the elected Spiritual
Director of the NKT-IKBU principally through activrties of teachin& study. practice and the observance of moral
discipline 311 wiihin the Mahayana Buddhist Tradition of Atisha and Je Tsongkhapa. as taught by Venerable Geshe
Kelsang Gyatso Rinwche. the founder of the NKf-IK8U. through the continuous implementation of the three NKT
study programmes.. the General Programme. Foundation Programme and Teacher Training Programme.
Aims and Artivities
The charity aims to provide facilities to enable students to study, practice and observe the moral discipline as set out
in the objects and this has been achieved so far by establishing the centres in Morden and Ken5ifbgton. The charity
also holds branch classes across London to provide teachin85 and insight to whomever wishes to attend.
Volunteefs
The charity has many volunteer5 from the k>cal community. who are e55ential for the running of the charity and are
invofved in all aspects of bt. We also offer wider opportunities to volunteer through volunteering visits.

KADAMPA MEDITATION CENTRE LONDON
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31" DECEMBER 2023
Public benefits
In exercising their powers and duties. the trustee5 have had due regard to the guidance on public benefit published
by the Charity Commission. They believe that the work of the charity in promoting the Buddhist faith has clearlv
identifiable beneftts. The charity believes that there are three important public benefits to promoting the Buddhist
faith.. to help people to develop their wisdom. to cultivate a good heart. and to maintain a peaceful mind. If we
increase our wisdom. we will overcome the problems in our daily life. improve our relat￿nShIpS with others, and
become of real benefit to a troubled world.
Benefit to the public
The charity offers regular courses in Bud(Ihist philosophy. psyc1￿108Y and meditation. bringing personal and Social
benelit. These COLJrse$ are accessible to the public for modest fees and everybody is welcome - Buddhist and non-
Buddhist. The more advanced courses of instruction require a greater commrtment of personal time from
participants. The charity also maintains a year-round progrèmme of prayers and meditation. again open to the
public.
ACHIEVEMENTS AND PERFORMANCE
KMC London continued to provide Kadam Dharma to the people of London through ihe three study proBrammes-
General Programme, Foundation Programme and Teacher Training Programme. During the year, numerous day and
weekend courses at KMC London were provided whith were well altended. The Foundation Programme and Teacher
Training Programme continued and were also well attended.
The Temple for World Peace in Morden and the commercial space in Kensington are both owned by ihe New
Kadampa Tradition - International Kadampa Buddhist Union INKT-IK8UI and are open six days a week, staffed by
sponsored people and volunteers.
FINANCIAL REVIEW
KMC London's courses and retreats continued to be ￿pular in 2023, with associated income increased to E109,345.
Overall the total income for 2023 was £149.14212(K)2= 128.1x191. KMC London gave donations to NKT-IKBU of over
£15,200 to support the International Temples Projett_ KMC London ha5 four sponsored people that cover the
Morden and Kensington Centres.
RESERVES POUCY
The Trustees consider that the level of free reserves should be retained in liquid funds equivalent to cover up to six
months overhead expendilure. These reserves are io be held in order to rnaintain the basic operations of the charity
nd to provide some surety against adverse financial events, such as income targets not being achteved or
unexpected expenditure.
Signed on behalf of the Trustees:
Director:

KADAMPA MEDITATION CENTRE LONDON
TRUSTEES ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31" DECEMBER 2023
RESPONSIBILITIES OF THE TRUSTEES
The trustees Iwho are also the dirertors of KMC London for the Purposes of company lawl are responsible for
preparing the Trustees Annual Report and the financial statements in accordan￿ with applicable law and
regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the
trustees have elected to prepare the financial statements in accordance with the United Kingdom Generallv
Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable lawl. Under company law the
trustees must not approve the financial ststements Un￿55 they a￿ satiSf￿d that they give a true and fair view of the
state of affairs of the charitable company and the income ènd expenditu￿ of the charrtable company for that
period.
In preparing these financial statements, the trvstee5 are required to:
Select suitable accountin8 policies and then apply them consiStent￿- observe the methods and principle5 in
the Charities SORP 2015-
Make judgements and accouniin8 estimates that are reasonable and prudent,.
State whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements-
Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable companrfs transactions and disclose with reasonable accuracy at any time the financial posrtion of the
charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the chari(able company and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT &YAMINER
Ali5tair lenkin5 is continuing as independent examiner for the coming year. who ￿sideS at 14 Shiels Drive. Bristol.
BS32 8ÉA
Signed on behalf of the trustees..
Name
(s•fyY &AUI*HEK Date

KADAMPA MEDITATION CENTRE LONDON
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 315t DECEMBER 2023
I report on the accounts of Kadampa Meditation Centre London for the year ended 2023. page$ 8-13.
Respective responsibilities of the Trustees and the Independent Examiner
As Trustees you are responsible for the preparation of the financial statements; you consider that an audit Is not
required under Section 144121 of the Charities Act 2011 (the 2011 Actl and that an independent examination is
needed.
It is my responsibility to:
l. Examine the accounts under section 145 of the 2011 Aci,
2. Follow the procedures laid down in the General Direciions given by the Charity Comrnissioner5 under Settion
14515lb of the 2011 Act; and
3. State whether particular rnatters have come to my attention
Basis of this report
My examination was carried out in accordance with the General Oirections 8iven by the CharTrty Commission. An
examination includes a review of the accountin8 records kept by the charity and a comparison of the accounts
presented with those records. It also includes considering any unusual items or di5closure5 in the account5 and
seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provrde
all the eviden￿ that would be required in a full audit. and consequentty I do not expre55 an audit opinion on the
accounts.
Independent examinee$ 5taternent
In connection with my examination. no rnatte￿ have come to my attent￿n-
l. Which give me reasonable cause to beI￿ve that in any material respect the requirement5 to keep accounting
records in accordance with section 130 of the 2011 Act. and to prepare accounts which accord with these
accounting records have not been met,. or with Section 130 of the 2011 Act- and to prepare accounts which
accord with these account records have not been met- or
2. To which in my opinion, attention should be drawn in order to enable a proper Understanding of the
accounts to be reached.
4Jk,
Signed
Date...-519124..........
Alistair Jenkins FCA- Independent Examiner
14 Shiels Drive, BRISTOL, BS32 8E

KADAMPA MEDITATION CEIURE LONDON
(COMPANY LIMITED BY GUARANTEEI
STATEMENT OF FINANCIAL ACTIVITIES
Income and Expenditure A¢¢¢wnt
FOR THE YEAR ENDED 31" DECEMBER 2023
Unrestricted Unrestrirted
2023
2022
INCOME FROM CHARITABLE ACTIVITIES
Voluntary income
Courses & retreats
A¢¢ommodation income
Gift shop
15,748
109.345
10.039
14,010
14,780
93,369
6.988
12.872
TOTAL INCOMING RESOURCES
149.142
128.009
EXPENDITURE ON CHARITABLE A￿1VITIEs
Sponsorship
Courses & Retreats
Accommodation expense
Gift shop
18,440
40.242
82.441
8,892
22,309
26,716
105.322
7,861
TOTAL RESOURCES EXPENDED
150.015
162.208
SurplusllDeficitl for the year
(873)
134,1991
Reconclllatlon of Funds
Net Out8oin8 Resources
Funds Brought Forward 01.01.23
18731
1.008.648
134,1991
1.042.847
Funds Carried Forward 31.12.23
lJ)07.775
I.IM)8.648
All fund5 shown alxjve are fully unrestricted. The statement of financial activities include5 all gains and105ses
recognised in the year. All incominB ￿SourceS and resources expended derive from continuing actNities. The
financial statements a￿ prepared under the historical c05t convention and have been prepared in accordance with
the Statement of Recommended Prartice- Finanoal Reporting Standard applicable in the UK IFR51021 effective
January 2015 and the Companie5 Act 2006.
The notes on pa8e5 10- 13 form part of these accounts.

KADAMPA MEDThATION CENTRE LONDON
{COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AS AT DECEMBER 31" 2023
2023
2023
2022
2022
Note
FIXED ASSErs
Tangible Assets
767.OXI
768.019
NON CURRENT ASSETS
Loans Receivable
250.1NXI
250,000
CURRENT ASSETS
Stock
Debtors
Cash at Bank and in hand
9,043
1.624
14.810
12,210
2,074
16,138
25,468
30,422
CREDITORS: Amounts
falling due within one year
34,783
39.793
NET CURRENT ASSETS
{9.3151
19.3711
Ass￿5.
I,￿7,775
I.LK18.648
Funds of the Charity
Unrestricted Income Funds
I.IX)7.775
I,C(J8.648
TOTAL FUNDS
I,￿7,775
I,(X18,648
These accounts have been prepared in accordance with the provisK)ns applicable to companie5 subject to the Small
companies. regime, Part 15 of the companies Act 2C#)6. For the year ending 31 December 2023 the charity was
entitled to exemption from 3udit under Section 477 of the Companies Act 2￿6.
The notes on pages 10- 13 form part of these accounts.
Trustees. responsibilities:
The members have not required the charity to obtain an audit of r(s accounts for the year in Question in accordance
with Section 476 of the Companies Art 2W6. The trustees acknowledge their responsibilitie5 for ensuring that the
Company keeps accountlng records which wmply wtth Sections 386 and 387 of the Companies Act 2006 and
preparing accounts which give a true and fair view of the state of affairs of the tompany a5 at the end of the financial
year in accordance with the requirements of Section 394 ènd 395 and whith otherwise tompty with the
requirements of the 2(X)6 Act relating to accounts, so far as applicable to the Company.
These finèncial statements were approved by members of the committee on...
And are signed on their behalf bv.
.Oirector
&hliY frALLA&HE

KADAMPA MEDITATION CEIITrE LONDON
NOTES ON FINANCIAL STAMENTS
FOR THE YEAR ENDEO 31" DECEMBER 2023
l Accounting Policies
lal Accounting Basis and Stsndards
The financial statements have been prepared under the historical cost convention and in accordance with the
Accounting and Reporting by Charities- Statements of Recommended Practice applicable to charities preparing
accounts in accordance with the Financial Reporting Stsndard IFRS1021 leffettive l January 20151 (Charitie5 SORP
IFRS10211 and the Compan￿$Att 2006.
Ibl Going Concern
Given the continuing level of support from its members who donate on a regular basis aftd the number of increased
classes and coutses s¢heduled for the forthcoming year, the Trustees consider that the charity has adequate
resources to tontinue in operational existence for the foreseeable futvre. Accordingly, the financial statements have
been prepared on a going concern ba51S.
Icl Incoming Resource5
Voluntary income including donations. gifts and legacies ihat provide core funding are of a general natu￿ and are
reco8ni5ed where there is entitlement. certainty of receipt and the amount can be measured with sufficient
reliability. Such intorne is only deferred when..
The donor specifies that the grant or donation must only be used in future accounting periods, or
The donor has imposed conditions which must be met befo￿ ihe charity has unconditional entitlement.
Income from commercial trading activities is recognised as eamed las and when the goods I Se￿ICe$ are providedl.
Idl Resources Expended
Expenditure 15 retognisetl when a liability is incurred. Contrartual arrangements are recogntsed as the goods or
services are Supplied. Costs of generating fun(Is are those costs incUr￿d in attractin8 voluntary income and those
incurred in Irading activities that raise funds.
Charitable activities include courses and retreats. accommodation and a book I gift shop an(1 include both the direct
costs and 511PPOrt Cosis relating to these activities.
Governance costs include those incurred in the govemance of the charity and its assets and are primarily associated
with constitutional and statutory requirements.
Support costs include central functions and have been allocated to actwity tost categories on è basis consisteni with
the use of resource5.
lel Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category.
Iriecoverable VAT is charged against the category or resources expended for which tt was incurred.
io

KADAMPA MEDITATION CENTRE LONOON
(COMPANY LIMITED BY GUARANTEEI
NOTES ON FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31° DECEMBER 2023
In Fund Accounting
Funds held by the charity are all Unrestricted General Funds.. Ihese c3n be used in accordance with the charitable
objects at the discretion of the trustees, or Restricted Funds- which mèy only be used for particular restritted
purposes wtthin the objects of the charity.
Igl Debtors
Trade and other debtors are recognised at the settlement amoum due after any discount offered. Prepayment5 are
valued at the amount prepaid net of any trade discounts due.
Ihl Creditors
Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount can be measured or estimated reliab￿.
111 Cash Flow Statement
The trustees have taken advantage of the exemption in Financial Reporting Standard No.1 Irevisedl from including a
cash flow statement in the financial statements on the grounds that the charity ts considered small for reporting
purposes.
Ill Fixed Assets
All fixed assets are initialty recorded at cost.
Ikl Depreciation
Depreciation is calculated so as to write off the cost of an asset. less its estimated residual value. over the useful
economic life of that asset as follows:
Freehold Property
Fixtures. Fittings & Equipment
not provided
I(PA straight line
111 Stocks
Slocks are valued at the lower of c05t or net realisable value, after making due allowance for Obso￿te items.
Im) Sponsorship Costs
KMC London has four sponsored people that cover the Morden and Kensington Centres.. Resident Teacher,
Administrative Director, Education Programme Co-ordinator. and Kensington manager. They are paid 3 Stipend and
food allowance. They recewe, as a non-cash benefit. accommodation. utilities and membership of KMC London.
li

KADAMPA MEDITATION CENTRE LONDON
(COMPANY UMITED BY GUARANTEEI
NOTES ON FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 31" DECEMBER 2023
3. Tonglble Fimed Assets
Freehold
Property
Propertv
Improvements
Fixtures &
Fittings
Total
Cast
As at I" January 2023
Disposals
Additions
As at 31 D￿ember 2023
750,OCrf)
12.9)9
23,167
786,076
750.0(MJ
23.167
786,076
Depreciation
As at -1" January 2023
Disposals
Charge for the Period
As at 31" De¢ember 2023
18.057
18,057
929
18.986
929
18.986
Net book value at 31"
December 2023
750.lx
11909
4,181
767,09)
4. Loan receivable
During 2021, a loan of £250,000 ITWO Hundred and Frfty Thousand Pounds) was made to New Kadampa Tradition -
International Kadampa Buddhist Union (Company No. 02758093. Charity Reg No (England) 1015054. The terms of
the loan are on demand. and it is without interest and the loan remains repayable.
5. Stocks
2023
2022
Stocks of books and Statues
9,043
12,210
6. Debtors & Prepayments
2023
2022
Prepayments
1,624
1.624
2,074
2,074
7.Creditots: Amounts fallin8 due within one year
2023
2022
Other creditors
Accruals
Bounce Back Government loan
5SO
3.283
31.5C
34,783
39.243
39.793
12

KADAMPA MEDITATION CENTRE LONDON
NOTES ON FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31" DECEMBER 2023
Total
2023
Total
2022
8. EXPENDITURE BREAKDOWN
Sponsorship
22.309
Courses & retreats
Meditation room costs
GP venues and related
Advertising and publicity
Travel expense
Tolal courses & retreats
S.161
14.877
13,463
6,741
40,242
6,063
6.290
7.725
6.638
26.716
Accommodation and Administrati¥e
Building improvement
Centre rates and utilities
Cleaning and maintenante
Household and garden
Provision for depreciation
Insurance
Administrative costs
Donations
Professional fees
Bank Charges
Interest payable
Total Accommodation &
Admlnistratlve
2,700
35.282
7.813
8,363
929
2.777
4.731
15,243
915
2.803
885
82,441
2,055
28,182
9.139
4.325
929
2,699
5.632
48.712
724
2,244
681
105,322
Gift Shop
8.892
7.861
Total
150,015
162,208
13