Registered number: 07700737 Charity number: 1143034
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 18 |
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021
| Trustees | J Bainenkovs |
|---|---|
| M D Konczak (resigned 28 July 2021) | |
| T Rossberg | |
| V Rossberg (resigned 28 July 2021) | |
| A Warner (resigned 28 July 2021) | |
| D Morriss (appointed 28 July 2021) | |
| S Pardus (appointed 28 July 2021) | |
| Dr L Shalamanova-Malinowski (appointed 28 July 2021) | |
| Company registered number 07700737 Charity registered number 1143034 Registered office The Beaufoy 39 Black Prince Road London SE11 6JJ Company secretary A Warner Accountants Streets LLP Chartered Accountants Tower House Lucy Tower Street Lincoln LN1 1XW Bankers Unity Trust Bank plc 9 Brindley Place Birmingham B1 2HB Triodos Bank Nv Deanery Road Bristol BS1 5AS |
Page 1
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2021
The trustees present their annual report together with the financial statements of the Diamond Way Teachings and Centres for the year 1 August 2020 to 31 July 2021. The annual report serves the purposes of both a trustees' report and a directors' report under company law.
The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended.
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is run by a board of trustees. The members are the guarantors of the charity and the number of members is three.
The trustees of the charity, who are also directors of the company, served throughout the year unless otherwise indicated:
Jevgenijs Bainenkovs Tobias Rossberg Dafydd Huw Morriss (appointed 28 July 2021) Sonia Klaudia Pardus (appointed 28 July 2021) Dr Liliana Dimitrova Shalamanova-Malinowski (appointed 28 July 2021) M D Konczak (resigned 28 July 2021) A Warner (resigned 28 July 2021) Vanja Rossberg (resigned 28 July 2021)
Recruitment, Appointment and Training of New Trustees
The trustees are appointed by the members of the charitable company.
Potential new appointments are discussed at members’ meetings and a shortlist agreed of those to be approached. Candidates are then approached to establish whether they are willing to serve and if so, appointments are then confirmed at the next meeting of the members. The policies and procedures adopted for the induction and training of new trustees are tailored to their individual needs, commensurate with their experience, ensuring that they understand their obligations and possess a sufficient knowledge as to how to discharge them.
The powers and duties of the trustees are set out in the Articles of Association. The trustees are empowered to manage the business of the charitable company and exercise all such powers of the charitable company that are not required to be exercised by the charitable company in General Meeting.
Page 2
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
OBJECTIVES AND ACTIVITIES
Constitution and Charity Objects
Diamond Way Teachings and Centres is a charity registered with the Charity Commission for England and Wales (charity number 1143034; registered on 22 July 2011), and is a private company limited by guarantee (company number 07700737; incorporated on 11 July 2011).
The objects of the charity are for the public benefit to:
-
1) Educate the public in the United Kingdom and worldwide by promoting a greater awareness and understanding of Tibetan lay Buddhism and the culture of Tibet by:
-
a) The provision of educational facilities, libraries and cultural centres; and
-
b) The teaching and practice of lay Buddhist philosophy within the tradition of the Karma Kagyu lineage of Diamond Way Buddhism under the spiritual authority of his holiness the 17th Karmapa Trinley Thaye Dorje and Lama Ole Nydahl and their successors; and
-
2) To maintain, support or contribute towards such one or more exclusively charitable purposes or charitable companies, institutions, associations, trusts and societies in the United Kingdom or elsewhere in the world that seek to advance the lay tradition of the Karma Kagyu lineage of Diamond Way Buddhism under the spiritual authority of his holiness the 17th Karmapa Thaye Dorje and Lama Ole Nydahl and their successors.
REPORT ON THE YEAR
The charity continues to work to promote understanding of Diamond Way Buddhism in the UK and internationally.
In 2013, the charity took full freehold possession of the former Beaufoy Institute, 39 Black Prince Road, London SE11 6JJ for the purposes of furthering the charity’s aims. Throughout the financial year work was undertaken in respect of a number of renovation and construction works on the Beaufoy.
Volunteers assisted throughout the year with the refurbishment and restauration of the building.
The charity supported several events and ongoing activities to promote Diamond Way Buddhism this financial year, including meditation and lectures, including with travelling teachers and with Lama Ole Nydahl (including via online streaming).
Furthermore, many people attending the charity’s centre travelled both in the UK and worldwide to assist in national and international projects and courses.
Page 3
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
FINANCIAL REPORT
The results for the year are set out on the Statement of Financial Activities and show that the charity's net outgoing resources on all funds during the year amounted to £82,275 (2020: incoming resources £69,730). At the year-end free reserves, excluding fixed assets and associated borrowings, amounted to £212,591 (2020: £241,813).
The charity is funded by donations, as well as a loan from a reputable UK bank. There are currently no restrictions on the charity's power to invest. The trustees consider the income requirements of the organisation against the income prospects. The charity continues to raise money for the funding of the development of its centre at the Beaufoy in London.
Reserves Policy
The trustees consider that sufficient but not excessive reserves need to be built up to meet the commitments of the charity. The reserves policy is to ensure that sufficient funds are available to cover the running costs and refurbishment plans in accordance with the budget.
Risk Management
The trustees have considered the major risks to which Diamond Way Teachings and Centres is exposed. In common with many charities of a similar size and those that manage buildings, we have undertaken a number of risk management protocols including the following ones on site:
There is an overall H&S Risk Assessment covering the building works in the Beaufoy. This is based on those areas involved as being viewed a construction site. Method statements and risk assessments are used for all works including those for volunteers, who are given training and appropriate Personal Protective Equipment as well as being supervised as required. Regular walkthroughs are made by the designated risk officer and working with the Site Supervisor and Managers he takes care to remove, contain or manage any potential hazards or perceived risks in both the closed and public areas of the. He also draws up a separate H&S Risk Assessment and Fire Risk Assessment whenever there is an event in the building, specific to that event. We have also draw up a PEEP (Personal Emergency Evacuation Plan) for disabled persons should they visit. A number of the community have been trained for First Aid by the Red Cross and Level 2 Food Safety in Catering by TutorCare, Horsham.
The trustees have also established systems and procedures to address any reputational and other risks to the charity.
The charity also implemented a number of policies and procedures, in line with UK Government and NHS guidance, in order to safeguard its activity and its volunteers in light of the COVID-19 global pandemic, which were updated throughout the period in response to the progress of the pandemic.
FUTURE PLANS
The charity is planning visits from many High Lamas of the Karma Kagyu Lineage, including further visits from Lama Ole Nydahl and his representatives. The charity will support the continuing development of the Charity’s organisation and infrastructure so as to best serve the Objects.
Page 4
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees who are also the directors of the charity for the purposes of company law are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company and charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing 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 judgments 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; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SMALL COMPANIES EXEMPTION
The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the members of the board of trustees on 13 March 2022 and signed on their behalf by:
T Rossberg Trustee
Page 5
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2021
Independent examiner's report to the trustees of Diamond Way Teachings and Centres ('the charity')
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2021.
Responsibilities and basis of report
As the trustees of the charity (and 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 charity 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 the charity's accounts 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
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed:
Dated: 16 March 2022
Robert Anderson FCA
Streets LLP Tower House Lucy Tower Street Lincoln LN1 1XW
Page 6
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021
| Note Income from: Donations and legacies 2 Charitable activities 3 Other trading activities: Fundraising 4 Investments 5 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 40,152 186,194 4,468 - 230,814 2,955 310,134 313,089 (82,275) 1,740,610 (82,275) 1,658,335 |
Total funds 2021 £ 40,152 186,194 4,468 - 230,814 2,955 310,134 313,089 (82,275) 1,740,610 (82,275) 1,658,335 |
Total funds 2020 £ 138,991 210,683 5,548 148 |
|---|---|---|---|
| 355,370 | |||
| 1,997 283,643 |
|||
| 285,640 | |||
| 69,730 | |||
| 1,670,880 69,730 |
|||
| 1,740,610 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
Page 7
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee) REGISTERED NUMBER: 07700737
BALANCE SHEET AS AT 31 JULY 2021
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 12 Net Assets |
46,772 224,698 271,470 (94,362) |
2021 £ 2,797,239 2,797,239 177,108 2,974,347 (1,316,012) 1,658,335 |
27,685 282,430 310,115 (102,315) |
2020 £ 2,866,861 2,866,861 207,800 3,074,661 (1,334,051) 1,740,610 |
|---|---|---|---|---|
Page 8
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee) REGISTERED NUMBER: 07700737
BALANCE SHEET (CONTINUED) AS AT 31 JULY 2021
| Note Charity funds Unrestricted funds 13 Total funds |
2021 £ 1,658,335 1,658,335 |
2020 £ 1,740,610 |
|---|---|---|
| 1,740,610 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees on 13 March 2022 and signed on their behalf by:
T Rossberg Trustee
The notes on pages 10 to 18 form part of these financial statements.
Page 9
DIAMOND WAY TEACHINGS AND CENTRES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Diamond Way Teachings and Centres 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.
1.2 Company Status
The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.4 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.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 10
DIAMOND WAY TEACHINGS AND CENTRES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1. Accounting policies (continued)
1.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Freehold property 2% per annum - Fixtures and fittings 25% per annum
1.7 Debtors
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.
1.8 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past 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 charity 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.
1.9 Financial instruments
The charity 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.
1.10 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 charity and which have not been designated for other purposes.
Page 11
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
2. Income from donations
| Unrestricted funds 2021 £ Donations 40,152 3. Income from charitable activities Unrestricted funds 2021 £ Education on Tibetan Lay Buddhism 186,194 |
Total funds 2021 £ 40,152 Total funds 2021 £ 186,194 |
Total funds 2020 £ 138,991 |
|---|---|---|
| Total funds 2020 £ 210,683 |
4. Fundraising Income Income from fundraising events
| Unrestricted funds 2021 £ Dharma Shop 4,468 Dharma Events - 4,468 |
Total funds 2021 £ 4,468 - 4,468 |
Total funds 2020 £ 3,151 2,397 |
|---|---|---|
| 5,548 |
Page 12
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
5. Investment income
| Bank Interest Received Analysis of expenditure by activities Charitable Activity Costs Analysis of direct costs Kitchen |
Unrestricted funds 2021 £ - Direct costs 2021 Support costs 2021 £ £ 1,991 308,143 Activities 2021 £ 1,991 |
Total funds 2021 £ - Total funds 2021 £ 310,134 Total funds 2021 £ 1,991 |
Total funds 2020 £ 148 |
|---|---|---|---|
| Total funds 2020 £ 283,643 |
|||
| Total funds 2020 £ 2,913 |
6. Analysis of expenditure by activities
Page 13
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Building Costs Utilities Bank Charges Advisors Motor Expenses Sundry Expenses Loan Interest Paid Governance Costs Housekeeping |
Activities 2021 £ 69,622 122,961 3,614 394 2,100 - 15,110 87,247 5,394 1,701 308,143 |
Total funds 2021 £ 69,622 122,961 3,614 394 2,100 - 15,110 87,247 5,394 1,701 308,143 |
Total funds 2020 £ 69,622 85,761 40,514 513 1,103 682 13,525 65,198 2,819 993 |
|---|---|---|---|
| 280,730 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,400 ( 2020 - £2,370 ).
8. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 July 2021, no trustee expenses have been incurred (2020 - £NIL) .
Page 14
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
9. Tangible fixed assets
| Cost At 1 August 2020 At 31 July 2021 Depreciation At 1 August 2020 Charge for the year At 31 July 2021 Net book value At 31 July 2021 At 31 July 2020 10. Debtors Other debtors Prepayments and accrued income |
Freehold property £ 3,106,726 3,106,726 247,352 62,135 309,487 2,797,239 2,859,374 |
Fixtures and fittings £ 47,596 47,596 40,109 7,487 47,596 - 7,487 2021 £ 33,454 13,318 46,772 |
Total £ 3,154,322 |
|---|---|---|---|
| 3,154,322 | |||
| 287,461 69,622 |
|||
| 357,083 | |||
| 2,797,239 | |||
| 2,866,861 | |||
| 2020 £ 15,607 12,078 27,685 |
Page 15
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
11. Creditors: Amounts falling due within one year
| Bank loans Other creditors Accruals |
2021 £ 35,483 50,348 8,531 94,362 |
2020 £ 34,013 59,636 8,666 |
|---|---|---|
| 102,315 |
12. Creditors: Amounts falling due after more than one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bank loans | 1,316,012 | 1,334,051 |
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:
| Repayable by instalments Repayable other than by instalments |
2021 £ 625,337 500,184 1,125,521 |
2020 £ 666,910 516,684 |
|---|---|---|
| 1,183,594 |
Bank loans are repayable in equal monthly instalments. Interest is charged at 4%. Bank loans are secured by legal charges over the freehold property owned by the Charity.
Page 16
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
13. Statement of funds
| Statement of funds - current year Balance at 1 August 2020 £ Unrestricted funds General Funds 1,740,610 Statement of funds - prior year Balance at 1 August 2019 £ Unrestricted funds General Funds 1,670,880 |
Income £ 230,814 Income £ 355,370 |
Expenditure £ Balance at 31 July 2021 £ (313,089) 1,658,335 Expenditure £ Balance at 31 July 2020 £ (285,640) 1,740,610 |
Expenditure £ Balance at 31 July 2021 £ (313,089) 1,658,335 Expenditure £ Balance at 31 July 2020 £ (285,640) 1,740,610 |
|---|---|---|---|
| Balance at 31 July 2020 £ 1,740,610 |
14. Summary of funds
Summary of funds - current year
| Balance at 1 August 2020 £ General funds 1,740,610 Summary of funds - prior year Balance at 1 August 2019 £ Designated funds - General funds 1,670,880 1,670,880 |
Income £ 230,814 Income £ - 355,370 355,370 |
Expenditure £ Balance at 31 July 2021 £ (313,089) 1,658,335 Expenditure £ Balance at 31 July 2020 £ - - (285,640) 1,740,610 (285,640) 1,740,610 |
Expenditure £ Balance at 31 July 2021 £ (313,089) 1,658,335 Expenditure £ Balance at 31 July 2020 £ - - (285,640) 1,740,610 (285,640) 1,740,610 |
|---|---|---|---|
| Balance at 31 July 2020 £ - 1,740,610 |
|||
| 1,740,610 |
Page 17
DIAMOND WAY TEACHINGS AND CENTRES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Tangible fixed assets 2,797,239 Current assets 271,470 Creditors due within one year (94,362) Creditors due in more than one year (1,316,012) Total 1,658,335 |
Total funds 2021 £ 2,797,239 271,470 (94,362) (1,316,012) 1,658,335 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2020 £ 2,866,861 310,115 (102,315) (1,334,051) 1,740,610 |
Total funds 2020 £ 2,866,861 310,115 (102,315) (1,334,051) 1,740,610 |
|---|---|---|
16. Related party transactions
Trustees:
Total income received from trustees during the year was £11,127 (2020 - £26,131). There are no balances due from trustees at either year-end.
Amounts paid in relation to trustees expenses are disclosed in note 8.
Relatives of Trustees:
Relatives of trustees relates to close family members and spouses. Total income received from relatives of trustees during the year was £620 (2020 - £495). Total expenses paid to relatives of trustees during the year was £NIL (2020 - £NIL). There are no balances due to or from relatives of trustees at the year-end.
Page 18