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2020-12-31-accounts

Kadampa Meditation Centre Leeds

Charity number 1129195

A company limited by guarantee number 06815448

Annual Report and Financial Statements

for the year ended 31 December 2020

Kadampa Meditation Centre Leeds

Annual Report and Financial Statements for the year ended 31 December 2020

Contents Page
Trustees' report 2 to 4
Examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8 to 10

Prepared by West Yorkshire Community Accounting Service

1

Kadampa Meditation Centre Leeds

Trustees' report for the year ended 31 December 2020

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Nigel Woolsey Carlo Crooks (Gen Paljin) Caroline Kaye Leona Cobane (Gen Kelsang Chitta) Jennifer Andrews Deborah Kefford

Chair

Resigned 4 August 2021 Resigned 18 May 2020 Appointed 26 September 2020, resigned 4 August 2021 Appointed 5 August 2021 Appointed 5 August 2021

Charity number

Company number

1129195 06815448

Registered in England and Wales Registered in England and Wales

Registered and principal address Bankers Ash Mount HSBC Bank plc Triodos Bank No. 22 Wetherby Road 4 Otley Road Deanery Road Oakwood Headingley Bristol Leeds Leeds LS6 2AD BS1 5AS LS8 2QD

Independent examiner

Claire Welling

West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a company limited by guarantee incorporated on 10 February 2009 and registered as a charity on 17 April 2009. It is governed by a memorandum and articles of association. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.

The trustees passed a resolution to change the name of the charity from Ratnasambhava Kadampa Buddhist Centre on 12 May 2021.

Method of recruitment and appointment of trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.

2

Kadampa Meditation Centre Leeds

Trustees' report (continued) for the year ended 31 December 2020

Objectives and activities

The charity's objects

To promote the Buddhist Faith under the spiritual guidance of the elected General Spiritual Director of the New Kadampa Tradition - International Kadampa Buddhist Union principally through the activities of teaching, study, practice and the observance of moral discipline all within the Mahayana Buddhist tradition of Atisha and Je Tsongkhapa as taught by Venerable Geshe Keslang Gyatso, the Founder of the New Kadampa Tradition - International Kadampa Buddhist Union, through the continuous implementation of the three New Kadampa Tradition Study Programmes:

The General Programme, the Foundation Programme, and the Teacher Training Programme.

The charity's main activities

The principal activity of this charitable company is to promote the Buddhist faith.

Ratnasambhava Centre runs different types of classes that are open to everyone and provides accommodation for those wishing to live in a Buddhist community.

Public benefit statement

In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission’s general guidance on public benefit, in particular the advancement of religion, and in particular Kadampa Buddhism.

Achievements and performance

We provide regular meditation classes which benefit the general public, helping with stress, anxiety and improving mental health. Before lockdown we started expanding into the city centre, and increased activities in various parts of Leeds, which led to an increase in numbers attending. This had to be put on pause, and classes have moved to online streaming.

Once we were able we started back into the city centre and are looking to expand our reach. We have a new Senior Buddhist Teacher arriving in Leeds in July/August. We look forward to reaching many more people in the Leeds area. We feel these classes have massive benefit to the general public, especially after the very challenging time everyone has experienced, and numbers will start to increase with more able to attend inperson (as well as online for the foreseeable future),

Financial review

The net income for the year was £16,061 on unrestricted funds.

At the time of signing these accounts the charity has been impacted by the global Covid-19 virus. The trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that no material uncertainties exist that cast significant doubt on the charity’s ability to continue as a going concern.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £12,734.

The trustees have agreed to aim to set aside £7,000 (in cash funds) for emergency situations, unexpected expenditure or opportunities for development of the charity.

It has been agreed that occasionally funds may drop below this amount but will be closely monitored and reviewed annually by the trustees.

3

Kadampa Meditation Centre Leeds

Trustees' report (continued) for the year ended 31 December 2020

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and 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 accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Signed on behalf of the board of trustees on 12/8/2021

Nigel Woolsey (Trustee)

4

Kadampa Meditation Centre Leeds

Independent examiner's report to the trustees of Kadampa Meditation

Centre Leeds

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2020, which are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity's trustees of the charitable 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 charitable 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 ('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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Claire Welling

24/8/2021

West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

5

Kadampa Meditation Centre Leeds

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 December 2020

Income from:
Leeds City Council grant
Branch income
Centre Card
Course income
Donations
Fundraising income
Gift Aid claims
Incoming rent
Visitor accommodation
Other income
Shop income
Total income
Expenditure on:
Administration
Branch expenses
Branch room hire
Building maintenance
Car
Council charges
Course expenses
Course and festival fees
Education
Fundraising expenses
Health and safety
Household
Insurance
Independent examination
Offerings
Shop expenses
Sponsorship
(2)
Travel costs
Utilities
Other expenses
Mortgage interest
Depreciation
Total expenditure
Net income / (expenditure)
Fund balances brought forward
Fund balances carried forward		 2020
Total
funds
£
10,000
858
3,596
1,865
4,670
19
1,053
35,604
30
5
86
57,786
13
95
266
114
-
105
339
500
561
-
455
290
1,657
480
1,297
32
11,900
188
6,006
560
10,205
6,662
41,725
16,061
220,414
236,475		 2019
Total
funds
£
-
3,442
4,009
3,792
4,400
23
834
39,220
1,635
193
446
57,994
13
424
1,374
1,263
57
1,038
324
2,473
938
65
675
95
1,595
480
2,049
272
15,240
36
6,506
10
10,642
6,662
52,231
5,763
214,651
220,414

All incoming resources and resources expended derive from continuing activities.

6

Kadampa Meditation Centre Leeds

Balance sheet

as at 31 December 2020
Notes
Fixed assets
Tangible assets
(3)
Total fixed assets
Current assets
Stock
Debtors and prepayments
(4)
Cash at bank and in hand
(5)
Total current assets
Current liabilities:
amounts falling due within one year
Creditors and accruals
(6)
Total current liabilities
Net current assets / (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after one year
(7)
Net assets
Funds
Unrestricted funds
Total funds		 2020
Total
£
513,970
513,970
1,096
1,668
24,860
27,624
14,890
14,890
12,734
526,704
290,229
236,475
236,475
236,475		 2019
Total
£
520,632
520,632
1,096
1,620
9,390
12,106
18,195
18,195
(6,089)
514,543
294,129
220,414
220,414
220,414

For the year ending 31 December 2020 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 12/8/2021

Nigel Woolsey (Trustee)

7

Kadampa Meditation Centre Leeds

Notes to the accounts

for the year ended 31 December 2020

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Tangible fixed assets

Tangible fixed assets costing more than £750 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:

Freehold land: nil Freehold buildings: over 50 years

No provision is made for depreciation of freehold land.

Fund accounting

All funds held are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Stock

Stock is valued at the lower of cost and net realisable value after making due allowance for damaged items.

8

Kadampa Meditation Centre Leeds

Notes to the accounts continued

for the year ended 31 December 2020

2
3
4
5
**6 **		 Sponsorship
Gross sponsorship payments
Tangible assets
Cost
£
At 1 January 2020
250,000
At 31 December 2020
250,000
Depreciation
At 1 January 2020
-
Charge for year
-
At 31 December 2020
-
Net book value
At 31 December 2020
250,000
At 31 December 2019
250,000
Debtors and prepayments
Debtors
Prepayments
Cash at bank and in hand
HSBC Community Account
HSBC Business Money Manager
Cash in hand
Creditors and accruals
Loans and overdrafts
Tenants' security deposits
Receipts in advance
Accruals
Creditors
The average number of sponsorships paid through payroll during the year was
Land		 2020
£
11,900
11,900
£
333,088
333,088
62,456
6,662
69,118
263,970
270,632
2020
£
-
1,668
1,668
2020
£
9,007
15,788
65
24,860
2020
£
11,793
1,910
-
480
707
14,890
1.4 (2020: 2).
Buildings		 2019
£
15,240
15,240
Total
£
583,088
583,088
62,456
6,662
69,118
513,970
520,632
2019
£
150
1,470
1,620
2019
£
3,560
5,782
48
9,390
2019
£
14,964
1,830
395
480
526
18,195

9

Kadampa Meditation Centre Leeds

Notes to the accounts continued

for the year ended 31 December 2020

7 Creditors and accruals falling due after one year
Bank loan
Interest free loans		 2020
£
281,229
9,000
290,229		 2019
£
281,229
12,900
294,129

The bank loan is secured by a legal charge over the charity's freehold land and buildings. Another interest free loan is due 2022 onwards.

8 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Remuneration and benefits received by key management personnel

The key management personnel of the charity comprises the trustees and the admin director. No remuneration was received by any person.

Other related party transactions

Loans to the charity
Name of trustee or related party
Details
Nigel Woolsey
Interest free loan		 2020
£
9,000
9,000		 2019
£
9,900
9,900

10