2024-03-31-accounts

M.A. Centre UK

(A company limited by guarantee)

Charity Registration No: 1133537 Company Registration No: 06793389

Financial Statements

for the year ended 31st March 2024

Wenn Townsend

Chartered Accountants

Oxford

M.A. Centre UK

(A company limited by guarantee)

Contents

Reference and administrative details	1
Report of the trustees	2 - 5
Report of the independent examiner	6
Statement of financial activities	7
Balance sheet	8
Statement of cash flows	9
Notes to the financial statements	10 - 18

M.A. Centre UK (A company limited by guarantee)

Reference and Administrative Details

Trustees:	Mr A Varma
	Mrs K Clare
	Mrs L Prasad
	Ms K S Fennell
	Ms R Sadanandan
	Mrs Y S Vakees
	Mr M Sriharan
	Mr S D Mousley
	Mr S N Panicker
	Mr M Velasevic
Company Secretary:	Mrs Y S Vakees
Registered office:	40a Letchworth Drive
	Bromley
	London
	BR2 9BE
Charity registration numbers:	1133537
Company registration number:	06793389
Solicitors:	New Media Law Solicitors
	24 Hanover Square
	Mayfair
	London
	W1S 1JD
Bankers:	The Co-operative Bank
	PO Box 250
	Skelmersdale
	WN8 6WT
Independent examiner:	L J Baker FCA
	Wenn Townsend
	30 St Giles
	Oxford
	OX1 3LE

- 1 -

M.A. Centre UK

(A company limited by guarantee)

Trustees' report on the accounts for the year ended 31st March 2024

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31st March 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Companies Act 2006, the Memorandum and Articles of Association, and 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

Our purposes and activities

M.A. Centre UK is a branch of Mata Amritanandamayi Math (M.A. Math) an international charitable organization supporting humanitarian activities in India and worldwide through a network of charitable projects under the banner - Embracing the World.

Activities include international aid and relief programmes, education and research projects aimed at the development, enrichment and empowerment of diverse communities. Embracing the World projects are inspired by the life and teachings of Sri Mata Amritanandamayi, a globally recognised humanitarian and spiritual leader known throughout the world as 'Amma'. She has served the world community for decades, imparting wisdom, strength and inspiration.

M.A. Centre UK also aims to serve and contribute to the local community by offering spiritual, ecological, educational, health and wellbeing programmes. Workshops include one day meditation courses, "Get Growing" courses to inspire and educate people to grow their own vegetables, tree planting classes and eco/environmental programmes, yoga classes, retreats, and youth programmes. M.A. Centre UK also provides a base from which disaster relief and fundraising efforts can be run when needed, providing financial support for charitable initiatives in the UK and overseas.

Our volunteers

The charity relies heavily on voluntary help to generate funds through various events and programmes.

Reserves policy and going concern

Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The trustees consider that the ideal level of reserves as at 31st March 2024 would be £125,000.

Our balance sheet remains strong with net current assets of £708,495 (2023 restated: £697,008) and the ownership of the freehold property at 40a Letchworth Drive, 211 Fairacres, and 66 Hayes Lane – all located in Bromley, Kent. The trustees have reviewed the state of the charity and are of the opinion that adequate funds continue to be available to finance the activities of M.A. Centre UK for the foreseeable future and are of the view that it is a going concern.

Plans for future periods

The hall continues to be hired out to the benefit of the local community and offers a substantial facility for activities of the Charity. Planning permission has been obtained for a substantial commercial kitchen area with a cafe and a dedicated dining area. With the increasing popularity and a busy event schedule and retreats of the Centre there is growing demand for overnight accommodation at affordable prices. The property at 66 Hayes Lane partially fulfills the need but additional facilities are being considered.

- 2 -

M.A. Centre UK (A company limited by guarantee)

Trustees' report on the accounts for the year ended 31st March 2024

Structure, Governance and Management

Governing Document

M.A. Centre UK is a company limited by guarantee governed by its Memorandum and Articles of Association dated 4 July 2011. It is registered as a charity with the Charity Commission.

Appointment of trustees

As set out in the Articles of Association the directors shall be the trustees of the charity and be nominated and appointed accordingly.

Trustees

New trustees/directors will make themselves aware of:

• their legal obligations under charity and company law,

• the content of the Memorandum and Articles of Association,

• the management committee and decision-making processes, and recent financial performance of the charity.

Organisation

The board of trustees/directors, which can have up to 15 members, administers the charity. The board normally meets weekly.

Related parties and co-operation with other organisations

None of our trustees receive remuneration or other benefit from their work with the charity. Any contractual relationship with other organisations and a related party must be disclosed.

Pay policy for senior staff

The directors consider the board of directors, who are the Trust’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year.

Risk management

The trustees have a risk management strategy which comprises:

• an annual review of the principal risks and uncertainties that the charity face;

• the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and

• the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.

Financial risk is a regular review of available liquid funds to settle debts as they fall due, and active management of trade debtors and creditors balances to ensure sufficient working capital.

Attention is also focussed on non-financial risks resulting from fire, health and safety and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for those involved and working in these operational areas.

- 3 -

M.A. Centre UK (A company limited by guarantee)

Trustees' report on the accounts for the year ended 31st March 2024

Financial Review

The Trustees have approved a prior year adjustment to correct the accounting treatment of a legacy of a property left to the charity. The legacy was due to the charity at 31[st] March 2023 but in error was not included in the 2023 accounts.

Following the prior period adjustment, both the surplus for the year ended 31[st] March 2023 and assets held have increased by £425,000. The total funds at 31[st] March 2023 following restatement are £3,051,358 of which £293,322 is unrestricted and £3,129,621 is designated.

- 4 -

M.A. Centre UK (A company limited by guarantee)

Trustees' report on the accounts for the year ended 31st March 2024

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also the directors of M.A. Centre for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

• select suitable accounting policies and then 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 financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that

the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure to our independent examiner

In so far as the trustees are aware at the time of approving our trustees’ annual report:

• there is no relevant information, being information needed by the examiner in connection with preparing their report, of which the examiner is unaware, and

• the trustees, having made enquiries of fellow directors and the examiner that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information and to establish that the examiner is aware of that information.

By order of the board of trustees

…………………… 2025

- 5 -

M.A. Centre UK

(A company limited by guarantee)

Independent Examiner’s Report to the Trustees of M.A. Centre UK

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 which are set out on pages 6 to 17.

Responsibilities and basis of report

As the charity trustees of the 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 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 company’s accounts as carried out under section 145 of the Charities Act 2011 (‘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

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Lee Baker BA FCA For and on behalf of Wenn Townsend Chartered Accountants Oxford

…………………………… 2025 31 January

Wenn Townsend is eligible to act as an independent examiner in terms of section 1212 of the Companies Act 2006.

- 6 -

M.A. Centre UK (A company limited by guarantee)

Statement of Financial Activities (incorporating Income and Expenditure Account) for the year ended 31st March 2024

		Unrestricted	Designated	Total	Total
		funds	funds	funds	funds
		2024	2024	2024	2023
					(Restated)
		£	£	£	£
Income from:
Donations and legacies	3	610,717	-	610,717	516,671
Other income	4	97,377	-	97,377	29,877
		───────	───────	───────	───────
Total income		708,094	-	708,094	546,548
		───────	───────	───────	───────
Expenditure on:
Charitable activities	5, 6, 7	201,698	38,521	240,219	174,963
		───────	───────	───────	───────
Total expenditure		201,698	38,521	240,219	174,963
		───────	───────	───────	───────
Transfer between funds		(70,611)	70,611	-	-
Net movement in funds		435,785	32,090	467,875	371,585
Reconciliation of funds:
Total funds brought forward restated		293,322	3,129,621	3,422,943	3,051,358
		───────	───────	───────	───────
Total funds carried forward		729,107	3,161,711	3,890,818	3,422,943
		═══════	═══════	═══════	═══════

The notes on pages 9 to 17 form part of these accounts

- 7 -

M.A. Centre UK (A company limited by guarantee) Company Number 06793389

Balance sheet

At 31st March 2024

		Unrestricted	Designated	Total	Unrestricted	Designated	Total
	Note	Funds	Funds	Funds	Funds	Funds	Funds
		2024	2024	2024	2023	2023	2023
					(Restated)	(Restated)	(Restated)
Fixed Assets
Tangible Assets	9	20,612	4,319,042	4,339,654	21,314	3,805,795	3,827,109
Current Assets
Stock		4,122	-	4,122	3,418	-	3,418
Debtors	10	22,759	-	22,759	97,529	425,000	522,529
Cash at Bank		707,855	-	707,855	181,366	-	181,366
and in Hand		734,736	-	734,636	282,313	425,000	707,313
Creditors:	11	(26,241)	-	(26,241)	(10,305)	-	(10,305)
amounts falling
due within one
year
Net Current		708,495	-	708,495	272,008	425,000	697,008
Assets
Creditors: due in	12	-	(1,157,331)	(1,157,331)	-	(1,101,174)	(1,101,174)
more than year
Net Assets		729,107	3,161,711	3,890,818	293.322	3,129,621	3,422,943
Charity Funds:
Unrestricted	13	729,107	-	729,107	293,322	-	293,322
funds	13
Designated		-	3,161,711	3,161,711	-	3,129,621	3,129,621
funds
Total funds		729,107	3,161,711	3,890,818	293,322	3,129,621	3,422,943

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

The company’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Trustees on………………….. 2025 and signed on their behalf by: …………………………. a M Sriharan (Trustee)

The notes on pages 10 to 18 form part of these accounts

- 8 -

M.A. Centre UK (A company limited by guarantee)

Statement of Cash Flows for the year ended 31st March 2024

	Note	2024	2023
			(Restated)
		£	£
Net cash flow from operating activities	15	1,080,752	1,008,717
		───────	───────
Cash flow from investing activities
Purchase of tangible fixed assets		(554,263)	(1,089,808)
		───────	───────
Net cash used in investing activities		(554,263)	(1,089,808)
		───────	───────
Change in cash and cash equivalents in the year		526,489	(81,091)
Cash and cash equivalents brought forward		181,366	262,457
		───────	───────
Cash and cash equivalents carried forward		707,855	181,366
		═══════	═══════

The notes on pages 10 to 18 form part of these accounts

- 9 -

M.A. Centre UK

(A company limited by guarantee)

Notes to the accounts for the year ended 31[st] March 2024

1. Accounting policies

a) General information

M.A. Centre UK is a charitable company limited by guarantee and incorporated in England and Wales. The registered address can be found on page 1 and details of the principal activities are set out in the Trustees Annual Report.

b) Basis of preparation of financial statements

These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice..

M.A. Centre UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

c) Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

d) Going concern

The company has a strong cash balance, and adequate reserves, and is expecting adequate income to cover future plans. In the opinion of the trustees therefore there are no material uncertainties about the ability of M.A. Centre UK to continue operating. The accounts are accordingly prepared on the Going Concern basis.

e) Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.

- 10 -

M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

2024. Accounting policies (continued)

e) Income (continued)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

f) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

g) Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Land - Nil Buildings - 2% Straight line Computer equipment - 15% Reducing balance Fixtures & Fittings - 15% Reducing balance

h) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

i) Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities incorporating income and expenditure account on a straight-line basis over the lease term.

- 11 -

Notes to the accounts (continued) for the year ended 31[st] March 2024

M.A. Centre UK (A company limited by guarantee)

Accounting policies (continued)

j) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cast at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a part event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

M) Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

n) Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities incorporating income and expenditure account.

o) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

p) Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are in relation to the useful life of fixed assets, which are written off in accordance with the depreciation policies in Note g).

- 12 -

M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

2. Prior year adjustment

In the prior year, the charity was made aware of a legacy which was due to the charity at 31[st] March 2023. This legacy was incorrectly not included in the 2023 accounts. These accounts show a prior period restatement to include this legacy as designated income and designated debtors at 31[st] March 2023.

As previously stated Prior year adjustment – correction of error As restated	Unrestricted funds 2023 Designated funds 2023 Total funds 2023 Surplus or deficit 2023 293,322 2,704,621 2,997,943 (53,415) - 425,000 425,000 425,000
	293,322 3,129,621 3,890,818 371,585

3. Income from donations and legacies

	Unrestricted	Designated	Total	Total
	funds	funds	funds	funds
	2024	2024	2024	2023
				(Restated)
	£	£	£	£
Donations	76,980	-	76,980	91,671
Legacies	533,737	-	533,737	425,000
	───────	───────	───────	───────
	610,717	-	610,717	516,671
	═══════	═══════	═══════	═══════

4. Other income

	Unrestricted	Designated	Total	Total
	funds	funds	funds	funds
	2024	2024	2024	2023
				(Restated)
	£	£	£	£
Rental income	14,202	-	14,202	992
Event income	28,020	-	28,020	2,060
Service income	-	-	-	4,213
Product sales	10,630	-	10,630	8,382
Hall Hire income	44,525	-	44,525	14,230
	───────	───────	───────	───────
	97,377	-	97,377	29,877
	═══════	═══════	═══════	═══════

- 13 -

M.A. Centre UK

(A company limited by guarantee)

Notes to the accounts (continued)

for the year ended 31[st] March 2024

5. Charitable activities

5.	Charitable activities
		Unrestricted	Designated
		Funds	Funds	Total	Total
		2024	2024	2024	2023
					(Restated)
		£	£	£	£
	Direct costs:
	Event expenses	10,762	-	10,762	4,069
	Product purchases	6,556	-	6,556	2,765
	Insurance	6,430	-	6,430	5,265
	Support costs (note 6)	162,310	38,521	200,831	159,814
	Governance costs (note 7)	15,640	-	15,640	3,050
		───────	───────	───────	───────
		201,698	38,521	240,219	174,963
		═══════	═══════	═══════	═══════
6.	Support costs
		Unrestricted	Designated
		Funds	Funds	Total	Total
		2024	2024	2024	2023
					(Restated)
		£	£	£	£
	Office costs	2,909	-	2,909	5,995
	Legal and professional fees	10,519	-	10,519	826
	Printing, postage and stationery	8,721	-	8,721	1,154
	Rates	9,223	-	9,223	6,173
	Repairs and maintenance	45,826	-	45,826	67,858
	Sundry	141	-	141	1,127
	Security	1,123	-	1,123	314
	Light, heat & power	16,460	-	16,460	7,343
	Bank charges	65	-	65	646
	Internet costs	2,816	-	2,816	1,590
	Travel & Accommodation	1,738	-	1,738	5,202
	Advertising & Promotional Costs	14,834	-	14,834	4,863
	Interest payable	44,738	-	44,738	21,186
	Depreciation	3,197	38,521	41,718	35,907
		───────	───────	───────	───────
		162,310	38,521	200,831	160,184
		═══════	═══════	═══════	═══════

- 14 -

M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

7. Governance costs

		Unrestricted	Designated	Total	Total
		Funds	Funds	Funds	funds
		2024	2024	2024	2023
					(Restated)
		£	£	£	£
	Independent examiner’s remuneration	3,050	-	3,050	3,050
		───────	───────	───────	───────
		3,050	-	3,050	3,050
		═══════	═══════	═══════	═══════
8.	Net income/(expenditure)
	This is stated after charging:
				2024	2023
					(Restated)
				£	£
	Depreciation of tangible fixed assets			41,718	35,907
	Independent examiner’s remuneration			3,050	3,050
				═════	═════
	During the year, no Trustees received	any remuneration (2023: £Nil).
	During the year, no Trustees received	any benefits in kind (2023: £Nil).
	During the year, Trustees received reimbursed expenses		totalling £2,867	(2023: £874).

9. Tangible fixed assets

	Land &	Fixtures &
	Buildings	Fittings	Total
	£	£	£
Cost
At 1stApril 2023	3,870,753	37,184	3,907,937
Additions	551,768	2,495	554,263
	───────	───────	───────
At 31stMarch 2024	4,422,521	39,679	4,462,200
	───────	───────	───────
Depreciation
At 1stApril 2023	64,958	15,870	80,828
Charge for the year	38,521	3,197	41,718
	───────	───────	───────
At 31stMarch 2024	103,479	19,067	122,546
	───────	───────	───────
Net book value
At 31stMarch 2024	4,319,042	20,612	4,339,654
	═══════	═══════	═══════
At 31stMarch 2023	3,805,795	21,314	3,827,109
	═══════	═══════	═══════

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M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

10.	Debtors
		2024	2023
			(Restated)
		£	£
	Trade debtors	10,136	9,419
	Other debtors	7,118	462,846
	Prepayments	5,505	50,264
		─────	─────
		22,759	522,529
		═════	═════
11.	Creditors: Amounts falling due within one year
		2024	2023
			(Restated)
		£	£
	Trade creditors	10,491	-
	Accruals and deferred income	10,000	2,900
	Other creditors	5,750	7,405
		─────	─────
		26,241	10,305
		═════	═════
12.	Creditors: Amounts falling due in more than one year
		2024	2023
			(Restated)
		£	£
	Loans	1,157,331	1,101,174
		─────	─────
		1,157,331	1,101,174
		═════	═════

During the year, interest of £44,738 (2023: 21,186) was charged on the loan.

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M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

13.	Funds Summary – 2024
			At 1st April	Net Movement At 31st March
		2023- Restated		in Funds	2024
			£	£	£
	Unrestricted Funds
	General Fund		293,322	435,785	729,107
			═══════	═══════	═══════
	Designated Funds
	Building Fund		3,129,621	32,090	3,161,711
			═══════	═══════	═══════
	Net movement in funds, included in the above are as		follows:
		Incoming	Resources	Transfer	Net
		Resources	Expended	between	Movement
				Funds	in Funds
		£	£	£	£
	Unrestricted Funds
	General Fund	708,094	(201,698)	(70,611)	435,785
		═══════	═══════	═══════	═══════
	Designated Funds
	Building Fund	-	(38,521)	70,611	32,090
		═══════	═══════	═══════	═══════
	Funds Summary – 2023 Restated
			At 1st April	Net Movement At 31st March
			2022	in Funds	2023
			£	£	£
	Unrestricted Funds
	General Fund		303,225	(9,903)	293,322
			═══════	═══════	═══════
	Designated Funds
	Building Fund		2,748,133	381,488	3,129,621
			═══════	═══════	═══════
	Net movement in funds, included in the above are as		follows:
		Incoming	Resources	Transfer	Net
		Resources	Expended	between	Movement
				Funds	in Funds
		£	£	£	£
	Unrestricted Funds
	General Fund	121,548	(121,631)	(9,820)	(9,903)
		═══════	═══════	═══════	═══════
	Designated Funds
	Building Fund	425,000	(53,332)	9,820	381,488
		═══════	═══════	═══════	═══════

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M.A. Centre UK (A company limited by guarantee)

Notes to the accounts (continued) for the year ended 31[st] March 2024

14. Related party transactions

During the year trustees were reimbursed expenses totalling £2,867 (2023: £874).

Aggregate donations during the year from related parties amounted to £10,522 (2023: £17,850).

15. Cash generated from operations

Cash generated from operations
	2024	2023
		(Restated)
	£	£
(Deficit)/surplus for the year	467,875	371,585
Adjustments for:
Depreciation and impairment of tangible fixed assets	41,718	35,907
Movements in working capital:
Decrease/(increase) in debtors	499,770	(502,250)
Increase/(decrease) in creditors	72,093	1,106,029
Decrease/(increase) in stock	(704)	(2,554)
	─────	─────
Cash generated from operations	1,080,752	1,008,717
	═════	═════

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