DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE Charity number 1125332 Company registration number 06645102 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021 COMMUNITY *A87SKSOH* 2810612022 CC*APANIES HOUSE A10 #135 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE CONTENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 Reference and Administrative Details Twstees Annual Report Independent Exafnination report statement of Financial Athil Balan￿ Sheet Notes fomiin9 part of the financial ststements 7-11 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31ST DECEMBER 2021 Registeied charlty number 1125332 Reg13tered company number CW5102 Reglstered Addr 5A Buttercross Lane Epping CM16 SAA Truste Ms J Andrff4VS Mrs. S. Gillard M$ E Carrott Company S•cretary Mr R t)efmis (Appointed 25th November 2020) Bankern HSBC 72 Hwh Street Maldon Essex CM9 SET Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL Independont Examlner Communty360 Winsleys House Hwh Street Essex C01 1UG Sollcltovs Foskett Maff Gadsby & Head 181 High Street Epping CM16 4BQ DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 STRUCTUR& GOVERNANCE AP4D MANAGEMENT Governing (￿GUMent The Charity is constituted as a company limited by guarantee under the Companies Act and governed by ts rnemorandum and Artides of Association and is also a re9iStered charity. Truste• Recruilment and Trdining TrL¢Stees are recruiied from wlthin the Centre or from other similar centres so that they have knowledge and understanding of the charlty's aims and workings. Two of the trustees must be membets of the charty and a￿ elected by the members at the Annual General Meeting or by the trustees when the need arises according lo the MemorarKlum of Association. The third trustee. the ex officio director, is appointed by the olher d1￿clOrS or, in defautt thereof. by the members and musl be a duly-appointed Administrative Director of a major NKT-IKBU Kadampa Medrtation Centre in the United Kingdom. Each new trustee is guidèd by the current trustees and other members of the oTganisation. in partscular the Adminislrative Director and Resident Teacher. who have continued expenence ￿1th1n the organisation. Related Charltle$ The charity is a member of the New Kadampa Tradition - Inlemational Kadampa Buddhist Union {'Nlff-IKBUI, M*hi¢h K8 made up of many ¢entres throughout the worfd with the same objects, however they are all independent chartties linked only by their objects and there is no financial dependency although lunds may pass belween centres to fuffil aims and obiectsves. O&JECTIVES AND ACTIVITIES Objects The obje¢ts of the ¢harrty are to promote the 3￿hr$I faith under the spirltual guidance of the elected Spiritual Director of Ihe NKf-IKBU principally through activities of teaching, study. practice and the observance of moral discipline all vthhin the Mahayana Buddhist Tradition of Atisha and Je Tsongkhapa. as taught by Venerabk Gest* Kelsang Gyatso. the founder of the NKT-IK8U through the conlinuous implementation of local study programmes. Alms and Actlvltles The chaiity aims to prowde facilrtres to enable students to study. practice and observe the moral discipline as set out in the ot4eds and this has been achieved so far by establishing the Cefit￿ at Buttercross Lane, Epping. The charity aiso holds online classes and brarth dasses across Essex, East Hertfordshire and East London to provide teachings and insight to vthomever v•ishes to attend. Public Benoffts In exercising their powers and duttes, the trustees have had due regard to the guidance on public benefrt published by the Charty Commission. They bel*ve that the work of the charity in promotirvj the Buddhist faith has clearty identffialk benefits. The charity believes that there are three important benefits to Promoting the Buddhist failh.. to help people to develop their wisdom. to culbvate a gocwj heart, and to maintsin a peaceful mind. If we do not stfive to develop our wisdom. ¥•? wilt aw remain ignorarrt of the true nature of realty. DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE TRUSTEES ANNUAL REPORT 'FOR THE YEAR ENDED 31 DECEMBER 2021 Everyone wishes for happiness. our ignorance of realty leads us to engage in non-virtuous actions, which in turn are the main cause of a51 our sufferirvJ. Furthemiore. if we do nol cultivate a good heart towards others. then our selfish motivation destroys the hamiony of our relats'onships V￿th others. We then have peace, and no chance to gain pu￿ hapPI￿sS. Wthout inner pea￿, outer peace is impossible, bolh personally and Ihroughout society. ACHIEVEMEKfs AND PERFORMANCE Classes and courses continued to be available online to support the local communty particularfy through lockdown restrictions early in the year. From May. cLgsses were offered in-Ferson from our main Centre in Epping. vknile most of our bfanch classes ￿e reintroduced in August. Attendan￿ for in-person dasses started low, but gradualty increased towards the end of the year as confidence for attending public events grew. By the of 2021, Duldzin Dragpa KBC had reopened 11 weekly General Sludy Pfogramme (GP) classes at 9 venues across Essex, East Hertfordshire and East London. In 2021. the Centre held sixteen short courses during the year, six half-day meditation retreats. four Buddhist retreats and an Ernp￿rn￿nt in December. many of which were availat)le in-person ar¥J online. in addition to its The Foundation Programme (FP) vthich returned in-person. Monthly online memberships remained poputar and rnore Peop￿ subscribed in 2021. The Charity intends to continue lo support the reopentng of lyanch classes vknile ¢ontinuiTrJ a range of lasses and courses online for people who cannot attend in-person. The voluntary positton of Educalion Programme Coordinator remaffts unflled but continues to be covered by the Resident Teacher and Administrative Director. FINANICAL REVIEW In accordance Imth the Charity Comrnission guidelines. the Charity has estabfished a policy as to the appropriate level of fr* reserves. The policy is reviewed annualty by the Trustees. and the level of resepies is monitored on a monthty basis. The Truslees COns￿er that free reserves should be retained in the bank sufficienl to cover in the order oflwo months of ovefhead expenditure. These reserves are hekl in order to maintain the basic operations of the Charity and to provide some suiety against adverse financial events, such as un-tjudgeted 8xpenditure. or failure to a¢h￿e incorne tsrgets. Net income for the 12 months endiNJ 31& December 2021 was £19.548. ¥knich is £2.624 down on figures for 2020. This is rnainty attritHJtabk to a decrease in attendan￿ for INestreamed classes and courses as restrictions started to ease. ¥thile confidence continued to be low for returning to in-person classes which were partially reintroduced HI August. Memtrerships femain a good source of income. Despite the reduction income. the charity remains l)u¢)yant V4ith stable funds r￿e1ved from accommodation. The Centre's accornmodation has again remained fulty occupied thereby providing regular and stabl8 income to the Charity. Atthough we rernain cautious of ￿ju￿j iKome and attendance in 2021 due to effects ofthe pandemic. the Charity maintains confidence in meeling and expanding ts Short and long-term objectives while maintsining financaal stabw. 1/5/21 Robert Dennis DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 I report on the accounts of Duldzin Dragpa Kadampa Buddhist Centre for the year ended 31st De￿rnber 2021 which are set out on pages five to eleven. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of Ihe accounts. The Charty's Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to: Examine the accounts under section 145 of the Charities Act, To follow the prO￿dureS laid dovffl in the General Directions given by the Charty Commissioners (under section 145(5)(b) of the Charities Act, and To state whether particular matters have come to my attention. Basls of independent •xamin•rfs Statement My examination was carried out in accordan￿ wtth the General Direct1t￿S given by the Charity Commissioners. An examination includes a review of the accounling records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in Ihe accounts, and seeking explanations from you as trustees conceming any such matters. The proCedU￿S undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view gtven by the accounts. Independent •xaminerfs statement In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting fecords: or the accounts did not compty with the applicable requirements conceming the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examinab'on. I have come across no other matters in connection wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Shelley-marie Rudling FMAAT AATQB for and on be atf of: Community360 Winsley's House, High Street. Colchester. Essex Date 36éL A¥ 202 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 2021 Total 2020 Total Note In¢ome and endowments frve. Signed on behalf of the trustees.. , /05121 S Gillard DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. Accounting Pollcles Basls of accovnllng The financial statements have been prepared In at(X)rdan￿ with Accounting and Reporting by Charikn'es.. Statement on Recommended Practise applicable to charities preparing their accounts in accordance the Financial Reports"ng Standard appli￿ble in the UK and ReputJÉc of Ireland {FRS 102) (effective 1 January 2019}. {Charities SORP (FRS 102)). the Financial Reportsng Standard applicable in the UK and Rebulic of Ireland (FRS 102) and the Companw Acl 2006. The charity constitutes a public benefft entity as defir￿d by FRS 102. Cash Flow The financial ststements do nol include a cash ftow slatement because the charty, as a small reporting entty, is exempt from the requirement to prepare such a statement under Financial Reporting Stsndard 1 "Cash flow statements". Restrf¢ted and designated funds All ￿CeIpts are un￿$tri￿ed funds. Incomlng resources All incoming ￿sOUrceS are included in the statement of financial acbvitses vknen the charity is legalty entitled to the income arKI the amount can be quanlified vath reasonable accuracy. Investment income consssts of bank interest received vAthin the year. Resou￿0$ expended All expenditure is accounted for on an accruals basis and 15 recognised vknen there is legal or constTUGtive Obl￿atiOn to pay. Expendrture has been dasstf*d uNJer headings that aggregate all costs related to the categ(Ny. Costs classified as govemance costs relate to costs incurred in connection with compliance with consbtutional, audit and other statutory requirements. DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. Accounting Pollcles (contlnued) Dopre¢iation DeprerAatton is Pfovided lo vrtite off the cost of fixed assets over their expected useful lives. The current fixed assets a￿ not liable for deprecialion and therefore none is LEing charged. 2. Investment Income Total 2021 Total 2020 Interest receIvat￿e 280 84 280 3. Charltable Actlvltles Total 2021 Total 2020 Catering costs Room hire Purchases- Bookshop Flnance Bank Charges Infomiation Technology Computer Software and internet costs Other Insurance Accountancy Fee Rates. light and heat Telephone Repairs and Maintenance Gardening expenses Gompa expenses Sponsorship expenses Houshold expenses Office Expenses 46 1,941 177 2,517 297 333 928 1.227 1.436 295 6.707 549 1,017 75 2,735 10,260 378 119 27,507 1.507 295 535 1.217 250 2.867 10,260 478 157 27,733 Other Recources Expended Total 2021 Total 2020 Bank Loan Interest 9,645 9.646 10,201 10.201 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 5. Tanglble flxed assets Land & Bulldlngs Cost As at 1 January 2021 Addrtions 800,000 As at 31 December 2021 800,000 Depreclatlon As at 1 January 2021 Charge for the y As at 31 December 2021 Net Book Value As at 31 Oecember 2020 800,000 As at 31 December 2021 800.000 Revaluatlon8 of Property Cost Revaluation in 2009 Revaluation in 2012 499.000 251.OlXI 50,000 800,000 6. DebtOf5 Total 2021 Total 2020 Trade Oebtors Prepayrnents and accrued income 419 1.453 1,872 1,187 1,187 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 7. Cash at Bank and In Hand Total 2021 Total 2020 Virgin Charity Deposit Account HSBC Current Account Pety Cash 65.651 5.933 462 72,046 60.567 7.628 461 68,656 Credltorg: falllng due wlthln a year 2021 2020 Bank Loans Other Creditors Accruals Deferied Income 17,200 1.430 632 568 17,2IXI 1.430 618 523 19,771 19,830 Credltors: falling due after morn than one year Bank loans Other c￿dItOrS 249,552 265,740 249.552 265.740 9. Summary of Funds Brou9ht Forvrard Incoming OutgoiThJ Gains I resour￿$ resources ( Losses) Carried For4vard Unrestricted Revaluation Reserve 284.587 301,000 585,587 57.580 38.032 304.135 301,000 605.135 57.580 38,032 10. Going Concern The charity is operating on a going concem basis 11. Key Staff No key management pe¥sonnel ¥Rre employed during the finanaal year. 10 DULDZIN DRAGPA KADAMPA BUDDHIST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Unrostricted Unrestrlctsd 12. Extended Statemenl of Flnan¢lal Actlvity Total 2021 T¢)tal 2020 Incomlng Resour￿3 Donatlons & Legacies Donations Gift Aid 835 157 858 177 Investment Income Bank Interest Received 280 Incoming Resources from Charflable Aclfvliles Sales Bookshop Day Courses and Retreats Study programme Accommodation and utilitres Totsl Incomlng Resources Resources Expended Raising Funds Publicity Advertising and poster displays Other Resources Expended Bank loan interest Charltsble A¢lfvllles Catering Costs Room hire Purchases bookshop Flnance Bank charges Inforniation Technology Computer Sollware and intemet costs Other Insuran Accountancy fee Rates, Iwht and heat Telephone Miscellaneous Repairs and maintenance Gardening expenses Gompa expenses Sponsorship expenses Household expense5 Office expenses Total Resources Expended Net Income 285 3,612 21,935 30,672 67,680 248 4,541 23.805 31.506 61,416 880 1.310 9,645 10.201 46 1,941 177 2,517 297 333 928 1,227 1.436 295 6.707 549 1.507 295 535 1.017 75 2.735 10.260 378 119 38,032 19,648 1.217 250 2.867 10,260 478 157 39,244 22,172 11