**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
**TRUSTEES’ REPORT AND**
**UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
||**Page**|
|---|---|
|**Company Information**|1|
|**Trustees’ Report**|2|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|8-10|
|**Independent Accountant’s Report**|11|
**Charity Registration No. 1129195**
## **Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2021**
## **DIRECTORS:**
Mr Nigel Woolsey Ms Deborah Kefford Ms Jennifer Andrews
**REGISTERED OFFICE:** Ash Mount No. 22 Wetherby Road Oakwood Leeds LS8 2QD
**REGISTERED NUMBER:** 06815448 (England and Wales)
**CHARITY NUMBER:** 1129195
## **ACCOUNTANTS:**
Partner Accountancy The Gas Light Lower Warrengate Wakefield West Yorkshire WF1 1SA
## **BANKERS:**
HSBC 33 Park Row Leeds LS1 1LD
Page 1
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
The trustees present their report and financial statements for the Period ended 31 December 2021.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
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.
## **Recruitment and appointment of the Management Committee**
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
## **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. The 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.
Page 2
## **KADAMPA MEDITATION CENTRE LEEDS**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **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 in person (as well as online for the foreseeable future),
## **FINANCIAL REVIEW**
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 £1,699.
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.
## **FUTURE PLANS**
In the year 2022, our plan is to expand our spiritual programme with more classes during the week at different times of the day with, if possible, lunchtime meditations, morning meditations and evening ones. To achieve this, we will need to train up more teachers coming from people of our community who show an interest in teaching. Also, a big part of our activity will include the cafe. We are looking for a cafe manager to run it 5 days a week with a menu including hot and cold sandwiches, soups, cakes and scones with the traditional hot and cold drinks. It will also be used to cater during events we sometimes organize including an evening meditation with an evening meal.
Finally, we will count on our shop to bring substantial income to the business with, as main products, the book from Venerable Geshe Kelsang Gyatso Rinpoche but also items such as meditation cushions, prayer beads, stationary and clothing such as scarfs and gloves.
Page 3
## **KADAMPA MEDITATION CENTRE LEEDS**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **RESPONSIBILITIES OF THE MANAGEMENT COMMITTEE**
Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:
- Select suitable accounting policies and apply them consistently
- Make judgments and estimate that they are both reasonable and prudent
- Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
The management committee is responsible for maintaining 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 statements comply with the Companies Act 2006. The managements committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud or other irregularities.
## **TRUSTEES**
The trustees, who are also directors for the purpose of company law, shown below have held office during the whole of the period from 1 January 2021 to the date of this report.
Mr Nigel Woolsey Ms Deborah Kefford Ms Jennifer Andrews
## **ON BEHALF OF THE BOARD OF TRUSTEES:**
........................................................................ Mr Nigel Woolsey
........................................................................ Ms Deborah Kefford
........................................................................ Ms Jennifer Andrews
Date:
Page 4
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021**
|Notes
**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
Bond & Key deposits
Class income
**Total income**
**Expenditure on:**
Administration
Branch expenses
Branch room hire
Building maintenance
Bond & Rent refund
Car
Centre food
Council charges
Course and festival fees
Course expenses
Depreciation
Education
Health and safety
Household
Independent examination
Insurance
Maintenance
Miscellaneous
Mortgage interest
Offerings
Other expenses
Shop expenses
Sponsorship (2)
Travel costs
Utilities
Website
**Total expenditure**
**Net income / (expenditure)**
**Fund balances brought forward**
**Fund balances carried forward**|
|Total
2021
£
-
-
3,580
-
4,612
-
-
18,142
-
665
-
420
1,425
1,040
-
-
137
517
1,463
320
246
15
-
20,812
3,190
685
1,855
-
2,167
3,803
72
10,129
1,028
-
2,468
2,638
1,159
6,629
72
**(31,601)**
236,475
**28,844**
**60,445**
204,874|
|Total
2020
£
10,000
858
3,596
1,865
4,670
19
1,053
35,604
30
5
86
-
-
13
95
266
114
-
-
-
105
500
339
6,662
561
455
290
480
1,657
-
-
10,205
1,297
560
32
11,900
188
6,006
-
**16,061**
220,414
**57,786**
**41,725**
236,475|
|---|---|---|---|---|
||
||||
||
||
||
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The notes form part of these financial statements
Page 5
**Charity Registration No. 1129195**
## **Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
|**BALANCE SHEET**
**31 DECEMBER 2021**
2021
Notes
£
**FIXED ASSETS**
Tangible assets
(3)
**CURRENT ASSETS**
Stocks
-
Debtors and prepayments
(4)
1,950
Cash at bank (5)
10,825
12,775
**CREDITORS**
Amounts due within 1 year (6)
(1,910)
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one
year (7)
**NET ASSETS**
**INCOME FUNDS**
Unrestricted funds
**TOTAL FUNDS**|£
554,600
10,865
565,465
**(**360,591)
204,874
204,874
204,874|2020
£
1,096
1,668
24,860
27,624
(14,890)|£
513,970
12,734
526,704
(290,229)
236,475
236,475
236,475|
|---|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
- (a) ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its income and expenditure 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 company.
The notes form part of these financial statements
Page 6
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
The financial statements were approved by the Board of Directors on xx and were signed on its behalf by:
........................................................................ Mr Nigel Woolsey ........................................................................ Ms Deborah Kefford
........................................................................ Ms Jennifer Andrews
Date:
The notes form part of these financial statements
Page 7
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## 1. **ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Incoming resources**
Donations are accounted for when received by the company. Other income is accounted for on an accruals basis as far as is prudent to do so. All income arises in the United Kingdom.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure in which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
## **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 - Not depreciated Freehold buildings - Over 50 years Equipment - 33% per annum Fixture and fittings - 15% per annum
## **Stock**
Stock is valued at the lower of cost and net realisable value.
## **Accumulated funds**
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
## **Taxation**
As a registered charity the company is generally exempt from Income Tax and Capital Gains Tax.
|2.|**SPONSORSHIP**|||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Gross sponsorship payments|2,638|11,900|
The notes form part of these financial statements
Page 8
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## 3. **TANGIBLE FIXED ASSETS**
|Equipment,
Land
Buildings Fixture & fittings
£
£
£
**COST**
At 1 January 2021
250,000
333,088
-
Additions
-
-
61,442
Revaluation
-
-
-
At 31 December 2021
250,000
333,088
61,442
**DEPRECIATION**
At 1 January 2021
-
69,118
-
Charge for year
-
6,662
14,150
Prior year adjustment
-
-
-
At 31 December 2021
-
75,780
14,150
**NET BOOK VALUE**
At 31 December 2021
250,000
257,308
47,292
At 1 January 2021
250,000
263,970
-
4.
**DEBTORS AND PREPAYMENTS**
2021
£
Debtors
-
Prepayments
1,950
1,950
5.
**CASH AT BANK**
2021
£
HSBC Community Account
2,638
HSBC Business Money Manager
7,796
Cash in hand
219
Paypal
172
10,825|Totals
£
583,088
61,442
-
644,530
69,118
20,812
-
89,930
554,600
513,970
2020
£
-
1,668
1,668
2020
£
9,007
15,788
65
-
24,860|
|---|---|
|||
The notes form part of these financial statements
Page 8
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
|6.
**CREDITORS AND ACCRUALS**
Loans and overdrafts
Tenants’ security deposits
Accruals
Creditors
7.
**CREDITS AND ACCRUALS FALLING DUE AFTER ON YEAR**
Bank loan
Interest free loans
8.
**RELATED PARTY TRANSACTIONS**|2021
£
-
1,910
-
-
1,910
2021
£
288,777
71,814
360,591|2020
£
11,793
1,910
480
707
14,890
2020
£
281,229
9,000
290,229|
|---|---|---|
## **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
New Kadampa Tradition Interest free loan||2021
9,000
62,814
71,814||2020
9,000|
|---|---|---|---|---|
|||||9,000|
The notes form part of these financial statements
Page 10
**Charity Registration No. 1129195**
**Company Registration No. 06815448 (England and Wales)**
## **KADAMPA MEDITATION CENTRE LEEDS**
## **INDEPENDENT ACCOUNTANTS’ REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF KADAMPA MEDITATION CENTRE LEEDS**
We report on the accounts of the company for the year ended 31 December 2021, which are set out on pages 3 to 7.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND REPORTING ACCOUNTANT**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
Having satisfied ourselves that the charity is not subject to audit under company law and is eligible for independent examination, it is our responsibility to:
- Examine the accounts under section 43 of the 1993 Act;
- To follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)b of the 1993 Act; and
- To state whether particular matters have come to our attention.
## **BASIS OF INDEPENDENT EXAMINER’S REPORT**
Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **INDEPENDENT EXAMINER’S STATEMENT**
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements;
to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirement of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in our opinion, attentions should be drawn in order to enable a proper understanding of the accounts to be reached.
Partner Accountancy The Gas Light Lower Warrengate Wakefield West Yorkshire WF1 1SA
Date:
Page 11