Charlt> Reglstratlon No. 1129195 Companv RegistratioTh No. 06815448 IEngland and Wal¢sl KADAMPA MEDITATION CENTRE LEEDS TRUSTEES, REPORT AND UN.4UDITED FINANCL4L STATEMENTS IOR TIIE YEAR ENDED 31 DECEMBER 21124
Charlty Reglstrntlon )0. 1129195 Company Registration No. 06815448 (England and Wales) KADAMPA MEDITATION CENTRE LEEDS CONTE_NTS OF THE FINAliCIAL STATEfvIE_YTS FOR THE YEAR ELIDED 31 DECEMBER 2024 Page Company Informatio Trustees, Report Statement of Financial Artivities Balance Sheet Notes to the Financlal Statements 8-11 Independent Accountant's Report 12
Charlt> Reglstratlon No. 1129195 Companv RegistratioTh No. 0681M48 IEnglAnd and Wal¢s) KADAlItP.4 MEDITATION CENTRE LEEDS COMPANY INFOR1lATIoN FOR TIIE YEAR ENDED 31 DECEMBER2024 DIRECTORS: Mb Caroline Jane Kaye Mr David Rawson Ms Lisa Marie Devine REGISTERED OFFICE: Waterloo House Assembly Street Leeds LS2 7DE REGISTERED NUMBER.. 06815448 (England and Wales) CHARITY NUMBER: 1129195 ACCOUNTANTS: Partner Accountancy The Junction, Office 43 Cl)arle5 Street Horbury West Yorksl)ire WF4 5FH BANKERS: HSBC -31 Park Row Leeds LSI ILD Page I
Charlty RegAstratlon No. 1129195 Company Regi5trAtion No. 06815448 (England and Wales) KADAMPA MEDITATION CENTRE LEEDS TRUSTEES, REPORT FOR TIIE YEAR ENDED 31 DECEMBER 2024 The trustees present theii. report and rJ[nCial statetnents for the Period ended 31 Deceniber 2024. STRUCTURE, GON'ERNANCE AND L1LAGE.E.T Governing Document KMC Leeds is collbtituted d5 d coillpdlly limited by bTUdrantee under the Comp<inies Act and governed by it5 Memorandum and ArtiLle5 of AssociatlO]I dnd ib iilsu a rtgisteTed Lhdrity. Trustcc Recruitment #nd Training Ol. the ihree irusiees, Iwo elected 11'usiees are recruiied from wiihin Ihe cenlre or Iroin other similar cenlres so thai they have knoivledge and underblanding ol. Ihe charily's aims and w'orkings. To be elecied or appoinied as a trustee. Ihe nominee inusl be a member of the charity and is eleLied by members at the Annual General Meeiing or by (he trustees .heii the need arises according to the Articles of Association. The third rrustee is an ex-ofticio trustee, by 'IrtUe of them being the Administrative Dire¢ror of a centre specified in the Articles of Association. Neiv truste¢s are guided by the current tn]st¢es and L)ther members of the charity. in particular Ihe Adminisiraiii'e Director and Resident Teacher, ho have vast experience within the organisatiLIn. Related Charities The cliarity is a member of the New Kadampa Tradition International Kadampa Buddhist Uniot) I'NKT-IKBU"), -hich is made up of many centres throughout the Thorld with the same objects. They are all independent charities lillked only by their objects aiid there is no financial dependency, although funds may pass between centres to flllfil aims and objectives. OBJECTIVES AND ACTIVITIES Objects The objects of the charity are to prornote the Buddhist faith under the Spiri81 guidance of the elected Spirilual Director of the NKT-IKBU principallj through activities of teaching, study, practice and the obseri'ance of moral discipline, Ic11 within the Mahayanic BILd(Ihist Tradition ol. AEisI)A And Je Tsongkhhpa. as taught by Venerable Geshe Kelsang Gyat50 Rillpoche. tl)e ftrunder of the NKT-IKBU. tl)rough tlie Colltinuous in)plemeniatioH of the three NKT study pi"ogi"amn)es.' tl)e Geneial Progran)IMe, Fouthdaiion Progran)me and Teacher Trainii)g Programme. Alm5 and Actlvltle5 The charity ain)s io provide faciliiies to enable students to swd). practice and observe the moral discipline as set out in the objects and this has been aLhieTred so far by estsblishing the centre in Waterloo House. The chaiity holds classes providing ieachings and insight to whomever ivishes to attend. Volunteers The LliÉirity has many volunteers fiom the local Lommunit}', Ivho are essential for the Nnning of the Lhaiity and are involved in all aspecis of it. Public benefits In exercising iheir poivers and duties, the trustees have had due regard to the guidance on public benetjt published by thc Lhariry Cominission. Thcy bclicvc that thc work of th¢ charity in proinoting thc Buddhist fairh has clLarly idcntifiablc bcn¢fits. Thc charity bclicvcs that thcrc arc ihrcc important public bcnLfits to pr01nOting ihc Buddhist faith.. to hclp pcoplc to dcvcli)p thciT wi.sdnin, t() cultivalc a gnnd licart, and ta n)aintain a pcaecftil mind. If wc incrcasc our 'i8di)In. wc will ovcrcoinc tlic problcm.% in our daily lifc, iniprovc rclatinnships with othcrs, and bccomc of real bcncfjt to a tmublcd world. Benefit tn the public The charity offers regular courses ii) Buddhist philosophy, psychology ai)d meditation: bringiiig per5011 and social bejiefit. These COUTses are accessible to the public for modest fees )d £'erybOdY is welcoine Buddhist and noi)- Buddhist. The more adV1ced courses of ii)sttlLCtion require a gTeater commitment of peTsonal time from panicipat]ts. The charity also maintains a year-round programtne of prayeTS and meditation, agaiii opeii to rhe public. Page 2
IL4DAMPA MEDITATION CENTRE LEEDS TRUSTb.Tr.S' RTr:PORT FOR THF. YF.AR F.NDTr.I) JI DTr.CTr.MIIF.R 2024 ACHIF.VF.MF.NTS AND PF.RFORMANCF. KMC Leedi Continued io proiiide Kadain F)hamia ihrough the ihree study programines: Genernl PrL)gramme, Fi)undatii)n Pr()graniinc and Tcacher Training Pn)gramnic. During the ycar, nuincr()u% day and wcckcnd cour%c8, a8 icll a8 cnmlincnl %tudy pr()gran)Inc%, wcrc hcld at KMC Lccd% whicli ivcrc 'ClI aitcndcd. Watcrlno Hnu%c, Ihc bllilding in ccntral Lccd% Iliat is the rc818tcrcd officc nf tlic cliarity, 18 nwncd by tlic Ncw Kadanipa Tiadition Intci'national Kadampa Buddhist Uninn INKT-IKBUI and 18 opcn %ix days a ivcck, staffcd by sponsored people and volunteeis. The charity also owns and operates from a Property in the Roundliay area of the city, and there is a moitgage on this. FILIALICIAL REIIIEW KMC Leeds courses aiid retreats contiiiued to be populai. in 2024. Overall, income for classes and courses increased, as did the shop and cafe. Expenditure also increased, includit]g the higher cost of utilities. as 't11 as iiecessary mainteiiance work on the buildings. In addition to a number of volunteer5 in both teaching and supporting roles: the chaTlty sponsored three peuple direLtly in prinLipal teaching diid inanageineiit roles. RESERVES POLICY Tlie Trusttts consider that the level uf free reserves should be retained in liquid funds equiN'dl¢nt to Luver up tu 51X nionths uverliead ¢xp¢iiditur¢. These reseri'es are to be held iii OTder to m¥intsiii the ba5iL Optrdtions of the Lharit), aiid to provide some surety againsl adverse financial events. such as income iargeis noi being achieved, or unexpec¢ed expenditure. Page 3
IL4DAMPA MEDITATIof4 cETRE LEEDS TRUSTb.Tr.S' RTr:PORT FOR THF. YF.AR F.NDTr.D JI DTr.CTr.MBF.R 2024 RF.SPONSIBII.ITIF.S OF THF. lAAG.mF.NT ColmIF.F. Ci)mpany laTh' rcquires thc Managcincnl Cnminitlcc to prcparc financial %tatcincni% for cach financial ycar ivhich gii'c a tnic and fair vicw of thc siatc of affair8 nf thc charitablc cnmpany at tlic halancc 8licct datc and nf it% ineoming r&%()urcc8 and applicaiinn nf rc%ource8, including ineamc and cxpcnditiirc, for thc flnancial ycar. In preparing tlio%c financial statcmcnt%, the managcmcnt committec should fi)Ilnw bc8t practicc and.. Select suitable accounting policies and apply them consistently Make judgments aiid estimate that they are both reasonable ld PTudent Prepare the finaiicial statements on the going coiicern basi5 unless It is inappropriate to a5surne that the company will continue on that basis. The malgeMent committee is responsible for rnailltaining proper accollnting records which disc105e with iEasoiiable accuracy al any time the fjnancial position of the charitable company aiid to enable them to ensure that the fit]ancial statanentb Lvmply with the Companies ALt 2006. The rnana¥einents Luinniittee is Tesponsible foi bdfe¥udl the assets ol'the Lhdiitable company henLe for takin¥ TeaSOiILLble steps for the deteLtiun and prevention uf fraud or other irregularities. TRUSTEES Tl)e Injsiees. are also directors for the purpose of company law, shown below. have held oifice during the whole of il)e period from l January 2024 to the dale of ihis repori. Mg Car()line Jane Kaye Mr DaNid RaH.son Ms Lisa Marie Devine ON BEHALF OF THE BOARD UF TRUSTEE5: Ms Lisa Mari¢ D¢vit)¢ Datc.. 25 Sep 2025 Page 4
Charlty Reglstratlon No. 1129195 Companv Registration No. 06815448 (EDgland aDd Wales) KADAMPA MEDITATION CENTRE LEEDS STATELWIENT OF FINANCIAL ACTIVITIES INCLUDING INCOIIE AND EXPENDITLRE ACCOUNT roR THE YEAR ENDED 31 DECEf4lBER 2024 rotal 2024 Total 2023 Notes Jneomc from: Cale income Cenire Card Donations Incomi1 rent Visitor accommodation Orher income Shop income Residents Uiility Income Class income Total in£orne 16.390 24.332 9.798 61.237 20 94 7,247 7.200 33,945 160,263 6,232 7,015 2,834 53,618 643 119 4,559 28,871 103.891 Expenditure on.. Administration Advertising Bank Charges Café expenses Car Centre food c.ouncil chargcs C.t)ursc and fcstival fees Dcprcciation Education Health and safety Hou%ehold Insurance Mainteiiance Mortgage interest OffeTings Shop expenses Sponsorship TraN'el Ctssts 1,917 534 1,861 13,604 814 ,018 223 4,324 16,564 8,198 627 105 1,509 4,646 2,429 261 745 18,567 6,7% I 7.045 475 3.004 6.234 13,670 2,181 2,010 15,)17 5,038 26,454 118.431 3,148 40,110 24,610 ,904 3,926 27.8tK) 4,815 121 Total expcndlture 24.1347 tt ineome l (expenditure) 183,084) (14,540) Fund balances brought fonward Fund tialance8 carried fonvard 149,719 66,635 164.259 149.719 The statement of financial activities also complies w'ith the requirements for an income and expeiiditure account under the Companies ALt 2006. The notes fonn part ol. these financial btatements Pa¥e 5
Charlt> Reglstratlon No. 1129195 Companv Registration No. 0681M48 IEnglAnd and Wales) KADAMPA MEDITATION cETRE LEEDS BALANCE SIIEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tall¥Fible assets 515,209 519,936 CURRENT ASSL'I'S Stocks Cash at bLwk 5,999 15.306 9.497 7,867 141 21,305 17,364 CREDITOR.S Amounts duc within l ycar (2X,0631 (27.1169) Tr4ET CURRETr4T ASSETS 16,7581 (9,705) TOT AL ASSII TS LESS CURRENT LJABILITIEI S i08,451 510,231 CREDI'IORS Amounts falling due after more than one year (6) {441.8161 1360,512) TrIET ASSETS 66,635 149,719 INCOME FUNDS Unrc%trictcd fund8 66,635 149,719 TOTAI. FLNDS 66,635 149,719 The coinpany is eniiiled io exempiion trom audit under Section 477 ot'the Companies Aei 2006 for the year ended 31 T)ecember 2024. The members have not required Ihe company lo obtain an audii of itb linancial siaiemenls for ihe year ended 31 Dcccmhcr 2024 in accnrdancc '1th %cctii)n 476 ()f thc Cnmpanic8 Act 2(106. The directors ackn()wledge their re8pan8ibilities f(Ir'. lal en811ring that Ilie company keeps a¢coiinting records which coinply '1[h Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements M-hich gI.e a true and fair vie, of the 8late of affairs of the ¢ompan}' as at the end of each filnCIal y¢ar and of its incoin¢ aiid ¢xp¢nditur¢ for ¢a¢h financial y¢ar in a¢¢ordanc¢ with th¢ requirements of Sectioiis 394 and 395 alld which othenvise comply with the requireinents of the Coinpai)ies Act 2006 relating to fjnancial statements, so far as applicable to the company. The not¢5 forni Pdrt ol'the&e lin(lia1 btattments Page 6
Charlt> Reglstratlon No. 1129195 Companv Registration No. 0681M48 IEnglAnd and Wales) The fiiiancial staternents ivere approved by the Board of Directors and Tryere S]led oil its behalf by.. Ms Lisa Marie Devine Date.. 25 Sep 2025 The not¢5 forni Pdrt ol'the&e lin(lia1 stattments Page 7
Charlt> Reglstratlon No. 1129195 Companv Registration No. 0681M48 IEnglAnd and Wales) KADAMPA MEDITATION CEYTRE LEEDS NOTES TO TIIE FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 31 DECEIBER 2024 ACCOLTLNTING POLICIES AeeDuntimg convention The filLId1 staiements h<ive been prepaied uiider the histOLICdl Lost convention. The fin)Lial stdtements have been piepdred in acLordance M'ith ALCOUntinbF dnd Reporting by Charities.. Statement of Recommended PrdLtice dppIiLable to chaiities prepdriii¥ their accouiiis 111 ilCLtJrdiince with tlie Financial Reporiing Siandard applicable in ihe UK and Republic ol. Ireland IFRS 10?) leffecliiie l January 20151- IC.harilies SORP {FRS 10211, the Financial Reporting Siandard applicable in Ihe UK and Republit of Ireland (FRS 102) and the Conipanies Acl ?006. Ineoming resourccs Donaiions are accounied for 'heA received by the company. Other income is accounted for on an accruals basis as far as is prndent to do so. All income arises in the Uniied Kingdom. Resources expended Expenditure is reoognised on an accruals L)asis as a liabiliry is in¢urred. Expenditure includes any VAT which cannot be fully recoipered and is reported as pan ot-lhe expenditure in which li relaies. Charitable expejiditllre comprises those costs incurred by the chariry in the delivery of its activities and services for its benefjciaries. Govcrnancc co8ts includc tho%c co8ts a*8ociatcd with mccting thc constitutional and starntory rcquircments of thc charity. Tangible fixed x55et5 Tangible fixed assets Costing inore than £750 are capitalised and included at cost including any incidental expense% of acqiiisition. Gifted as8et8 are shown at tl)e value to the charity on receipt. Depre£iation ]% provided oil all tai)gible fixed assets at rates calculated to write off the cost on a strai)t-1lne basis over their expected useful ecoi)omic lives as follows.. Freehold land Freehold buildings Equipn)ent Fixture and litiings Not depreciated Over 50 vear5 33°/0 per annum .'0 per annum Stoek Stock is valued at the lower of cost and net realisable value. Aceumulated funds R¢btsiLted funds ar¢ subjeLt tts spe¢ifiL Londilions by donors as to how they may be used. The purposes and uses of ihe restricied funds are set out in the noies to the accounts. Ttion As a registered charity the company is generally exempt from Income Tax and Capital Gains Tax. Average Number of Employees Avcragc numbcr of cmployccs during thc ycar was.. 312023..2} SPOY8ORSHIP 21)24 GTOSS sponsorship payment5 15,517 The notes form Pdrt of thtbe fIn{lI<11 5t(Itement Page 8
Charlt> Reglstratlon No. 1129195 Companv Registration No. 0681M48 IEnglAnd and Wales) KADAMPA MEDITATION cETRE LEEDS NOTES TO TIIE FINANCL4L STATEMENTS- continued FOR TIIE YEAR ENDED 31 DECEMBER 2024 TAryGIRI.F. FIXF.D ASSF.TS Equiprn¢nL Fixturt & fittin¥s Ldnd Buildings Tuta15 COST Ai l January 2024 Addititsns Disposals 250,000 333,088 8,280 66.988 3.557 650,076 11.837 At 31 December 2024 341,368 70.E4.S 661,913 DEPRECIATION At l January 20?4 Chargc for ycar Di8posals 89,104 6,828 41,036 9,736 130,140 16,564 At 31 December 2024 95,932 50.772 146,704 NET Book VALUE Ar 31 December 2024 250,000 245.436 19.773 515,209 At l Janllary 2024 250,000 243.984 519,936 CASH AT BANK 2024 2023 HSBC Conimunily Accounl HSBC Business Money Manager ITP Account 2 2.698 7.876 2,785 94 2,193 5,395 Squarc Cash Clcaring C.a8h in hand 100 1,747 106 73 Paypal 106 15,306 7,867 The notes form Pdrt of tht5e fIn{LI<ll 5t(Itement Page 9
Charlt> Reglstratlon No. 1129195 Companv Registration No. 0681M48 IEnglAnd and Wales) CREDITORS AND ACCRUALS 2024 2023 Loans and overdrafts Tenants, se¢urity de)SIts Other Lreditors Creditors 17,097 4,275 108 17,097 4,220 104 6,583 5,648 28,063 27,069 CRF.DITORS AND ACCRUAI.S FAI.I.ING DUF. AFTF.R ONF. YF.AR 2024 Bank loan 240.085 2Ql,731 247,452 113,060 Intcrc%t frcc Ii)ans 441,816 360,512 RELATED PARTY TRANSACTIONS Trustee expeThses No Irustee receik'ed any expenses during this year or the previous year. 'rru5tee remuneration and benefits No trustee receiked any remuneration or benefit during this or the previous year. Remuneration And benefits reeelved by kev ]nanaEement personnel The key mana¥ement personnel of the charity comprises of the trustees alld the administratiN'e director. Other related party transactions Loans to the charfty 2024 2023 Name of trustee or related partv I Ivoolbey New I(adampa Tradition Detgils Interest free loan 9,000 192,731 9,(H)O 104,060 Interest free loan5 ?01.731 113,060 The notes form Pdrt of tht5e fIn{LI<ll 5t(Itement Page 10
Charlt> Reglstratlon No. 1129195
Companv Registration No. 06815448 IEnglAnd and Wales)
KADAMPA MEDITATION CEYTRE LEEDS
INDEPENDE)T ACCOUNTANTS, REPORT TO TIIE TRUSTEES
ON TIIE UN.4UDITED FIYAYCIAL sTATEMETs OF
KADAMP.4 MEDITATION CENTRE LEEDS
We repurt on the acLuunts vf the Lumpany for the yedr ended 31 December 2024, which dre set out PdgFeb 5 to 10.
RESPECTWE RESPOliSIBILITIES OF TRUSTEES AND REPORTING ACCOUliTANT
The trustees I"hO are a150 Ihe directors of the COmPLY for the Puryse5 of cOmpLY lawl are respo11b1£ for the
preparalion Lil. Ihe atcounis. The trusiees consider ihal an audii is noi required lor ihis year under seciion 43(2} of the
Charilies Aci 1993 Iihe 1993 Aci} and ihat an independenl examinalion is needed.
Having baiiblied ourselNes ihal the charity is not subjeci io audit under company law and is eligible lor independent
examinaiion, it is our responsibiliiy 10..
Ex(Itniri¢ the