R•gister•d numb•r: 07700737 Charity number: 1143034 DIAMOND WAY TEACHINGS AND CENTRES IA company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 *A026TRY8" 0110512024 COMPANIES trK)U5E A12 #193 DIAIIOND IflAY TEACHINGS AND CENTRES (A ¢ompany limlted by guarantee) CONTENTS Page R•ference and admlnistrativ• dètails of thè Charlty. 1¢$ Tvu5tees and advisers Tru$te¢$' report Independent examinerfs veport Stat•m•nt of financial activit••s 8alan¢• sheet 9-10 Notss to the financial statements tMAIAONO WAY TEACHINGS AND CENTRES (A company limiled by guarnntee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2023 Tw$toes R Bihun D mO￿￿S S Mierzeiewska T Rossberg Dr L Shalamanova-MalintrAtski Company Registergd Number 07700737 Charity Registered Number 1143034 Registered Office The Beaufoy 39 81ack Prince Roa(1 London SE11 &JJ Company Secretary A Warner Accounlants Streets LLP Chartered A¢¢ounlants T0￿r House Lucy To¥4Er Streel Lincdn LN1 1XW Bankers Unty Trust Bank plc 9 Brindley Place Birmingham 81 2HB Page 1 OIA11014D WAY TEACHINGS ¥lND CENTRES (A company limited by 9￿￿￿￿¥) TRUSTEES. REPORT FOR THE YEAR ENOED 31 JULY 2023 . The trustee5 present the￿-annUa1.Tep0rt togelher with the financial statement5 of Ihe Diamond Way Teaching5 and Centres Ilhe charityl for the year 1 August 2022 10 31 July 2023. The annual report Serves Ihe purposes of both a trustees, report and a dire¢tors' report under company law. The Iwstees Confirm that Ihe annual report and financial statements of the charitabte Gompany wmpty wilh the current statutory ￿quIreMents. the requirements of the tharitable companys govemin9 document and the provisions of the Statement of Recommended Pracb"¢e {SORPI applicable to charities preparing their accounts in accordance with the Fnancial ReportiThJ Standard appIl￿ble in the UK and Republic of Ireland {FRS1021 as amended. Since the ¢harity quaffies as sm￿1 Under secbcm 382 of the Ccthpanies Ad 20C6, the stralegiG report required of medium and laige companies under the Companie5 Act 20C6 (Strategi'c Report and Directors. Report> Regulats"ons 2013 has been omitted. STRUCTURE, GOVERNANCE AMD MANAGEMENT Constltution. Onjanisation andAlembers' Liability The charity is a charrtable ¢ompany limited by guarantee no share Ca￿ (company number 07700737 Incorporated on 11 July 20111 and a registered tharTrty l¢harrty number 1143034 regb5tered on 22 Juty 2011). The charity is managed by a LK)ard of Irustees. The trustees of the chty. who are also directors of the company. Se￿ed during the year are included on page 1. Each member of the chantsble ¢￿￿panY undertakes to contribute to the assets of the charilable company in Ihe event of it bwng wound up *thile they are a member. or wthin one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and Iiabilib'es ¢ontra¢ted before they ceased to be a member.The members ¥e Ihe guar￿tOrS ofthe chwty arKI the number of members 1$ three. Recruitment. Appointment and Training of New Twstees The trustees are app)inled by the members of the charitable company. Potents"al new appointments are discussed at members. meetings and a Shor￿1$1 agreed of those lo be approached. Candidate5 are then approached to esta￿lsh vthether they are wlling to $eTve an¢J rf $0, appointments are then confimiet1 * the nexl meekn.ng of the member5. The policies and procedures adopted for the induction and training of ne* trustees are lailN& to trebr individual needs. commen5urale with their experien¢e. ensuring that they under5Lind they oblvJations and possess a suffi¢ient kno*ledge as to how to discharge them. The pover5 and duties of the tnjslees are set out in the Arlides of As$o¢rdtion. The trustees are empowered to manage the busines$ of the thantsble company and exeruse all such p￿lS of the charilable company that are not required to be ex¢￿•Sed by the tharitsble cc¥npany in GenwJ Meeb"ng. Page 2 DIAMOMD WAY TEACHINGS AND CENTRES (A company limited by guarantee) TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 JULY 2023 OBJECTIVES AND ACTMTIES Clhlrity Objects The objec15 Of the rharty are for the publ￿ benefft to: Educate the the United lfjngdom and by prcAnoting a greater awareness and understsnding of Tibetan lay BLKldhism and the C￿￿Ule of Tibet ty.. The wo¥ision of educational facilities. libraries and cullural centre5," and b) The leaching and practKe of lay Buddhist phdosophy*ithin the traditiL¥) of the Karma Kagyu lineage of Diamond Way Buddhism under the spiritual authority of his hob"ne5S the 17th Karmapa Trinley Thaye Dorie and Lama Ole Nydahl and their 5ucce550rs" and 2) To maintsin, support or contribule lovrards S￿h one or more exclusNety charitatle purpose5 or charitable companies, institutions. assoaats'ons, trusts and socielies in the United Kingdom or elsewhere in the wodd that seek to advance the lay tradity.on of the Karma Kagyu lineage of Diamond INay Buddhisrn Ur￿eT the spiritual authorty of his holiness the 17th Kamiapa Thaye Dorie and Lama Ole Nydahl and their su¢¢essors. The trustees confimi that they have referred to the guidance cty)tsined in the Charty Commission's general guidance on public tenefrt wthen reywng the Chartls obJ'e¢lives and aim$. REPORT ON THE YEAR The charty continues lo to yomote understanding of Diamond Way Buddhism in the UK and inleTnab"onalty- In 2013. the charity took full freehold pos5es5ion of the former Beaufoy In5trtute. 39 Black Prince Road, Londorl SE11 6JJ for the wrposes of fvrthering Ihe rharrty's wms. Throughout the financial year was undertaken in respect of a nurnber of renovati￿ and construth.on *Drks on the Beaufoy. Volunteers assisted throughout the year *ith the refijrbishment and reStora￿n of the building. The charity supported several events and ¢)ngoing acti7￿lIes to pr￿lOte Diamond Way Buddhism this financial year, including medilation and le¢tures. induding travelling teachers and *ith Lama Ole Nydahl (including via online slreamhngl. Furthermore, many people attending the charl￿9 Centre travelled both in the UK and blryl￿de lo a$si$t in national and internat￿n81 projects and ¢ourses. Charity Meryer Over the last few years, became evhlent that the administratNe ath"vth"es undertaken by both the charity 8nd Diamond Way Buddhism UK C'DWB UK? overlapped in many significant ￿￿y$ ¥Ath duplbcalion$ in a number of administrabve and OTgani5alional areas such a5 aCry)Lrnting and insurance. As a result, effective from 17 Febwary 2022, am adivibes undertaken by DWB UK transferred to the charlty. The chanty has therefore become the sole wganisth'on covering all Diamond Way acb'wty across the UK. Page 3 DIAMOND WAY TEACHINGS AND CENTRES IA ¢omp4ny limit￿ by guarnntee) TRUSTEES. REPORT ICONTIIIUEDI FOR THE YEAR ENDED 31 JULY 202J FINANCIAL REPORT R•sults lorth• Year and Fun¢ts The results for the year are set out on the Statement of Financial Actiwb"es and shvw that the charity5 net bncoming re5ource5 on all funds during the year amounted to £59.219 (2022- £107.2111_ Incoming re$our¢es in 2022 included lunds on the merging of DWB UK of £74,849. At the year-end free reseryes. eXr￿MI1ng fixed assets and a$s0¢iated borrtr*4ings amourrted lo £292,657 {2022 - £233.6801. The tharity 15 fvnded by donab"(ms, income and loans from a reputable UK bank. There are ¢urrenUy no restricb'ons on the charity's kwwef lo invest The truslees ￿nSider the income requirements of the Ofganisabon against the income prospects. The charty contsnue$ lo raise money for the funding of the development of its centre al the 8eaufoy in London. Re5eryes Policy The tru51ees consmder that sufficient bul nol eycessive reserves need to be buiK up to meet the commrtmenls of Ihe charty. The reserves policy 1$ lo ensu￿ that 5uffKFent funds are a¥ailable to cover the running costs and refvrbishment ￿anS in accordance vthh the budget. Risk managen￿￿t The tru51ees have considered the major risks to *thich the charity is exposed. In common with many ch8rrties of a sifflilar size and those that manage building5, VR have undertaken a number of risk management protocols including the following one$ on sile.. Th￿ is an overall H&S Risk Assessmenl u)vering the buihjing I￿)rkS in the BeaLrfoy. This is based on those areas involved as being vieTrhed a construction site. Meth¢xl slatements and risk assessments are used for all works including those for volunteers. are given Iraining and appropriate Personal Proleth"ve Equipment as well as being supeThised as required. Regular walkthroughs are made by the designated risk offi￿r and working with the Slée Super¥isor and Managers he takes Ca￿ to remove. contain or manage any polential hazards or perceived risks in both the closed and public areas of Ihe BeaLrfoy. He also draws up a separate H&S Risk Assessment and Fire Risk Assessment whenever there is an event in the building, speafic to that event. We have also draw up a PEEP (Personal Emergency EVaCuats"(￿ Plan) for dIsa￿ed persons should they visit. A number of the community have been Irained for Fi￿1 ￿d, Level 2 Food Safety in Catering ènd in Fire Safety. The trustees have also established systems and y(Kedures to address any reputational and other risks to the charity. FUTURE PLANS The charity 15 planning VIS￿ from many High Lamas of the Kamia Kagyu Lineage. in¢luding further visits from Lama Ole Nydahl and l or hi5 representats"ves. The chanty wil support the continuing development of the Charity's organi5atKJn and inftastructure so as to best serye the Objects. Page 4 DIAMONO WAY TEACHINGS AND CENTRES IA coM￿nY limited by guarnntse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023 GOING CONCERN The tharity has prepared a ¢ashflow fore¢a$t th* takes irrto account increased revenue from 115 acti￿11*5 ar the increased cost of utilities and loan financing. Member donat1￿5 have increased as a re$LII of the fore¢asL Further work to improve the infrastructure of the buildMIg is cfflgthrMJ aThl has been budgeted for in respect of uilding cornpliance regulab.ons as V￿11 as the instsllth'on of an ant￿lI00d Prevention system. A¢J4Yitional in¢ome 1$ antiapated trom the nomination a5 an lntemab.onal Diamond Way project. It is expected that amount in the region of £150.000 *il be raised this projecl by the end of the financral year 202&24. STATEMENT OF TRUSTEES, RESPONSIBIUTIES The trustees who are also the directors of the tharity for the purposes of company law are responsible for preparing the fonanual stslement5 in a¢¢ordan¢e ap￿ICable law and Uniled Kingdom Accounting Standards (United lfjngdom Generally Accepted Accounting PraCt￿e). Company law and ¢harty law require the trustees to prepare financial statements for each financkil year vthich gtve a true and fair Mew of the incoming resources and application of resource5, including the income and expendthire. of the charitable company for that period. In preparing finan¢Èal statements the Iruslees a￿ required to.. selecl suitable accounting Potrns and Ihen appty them wtssstently. observe Ihe method5 and principles in the Charibes SORP.. make judgmerts and e$timates that a￿ reasonable and prudent.. state whether applicable UK Accounb"ng Standard5 have been folkJ*d. subje¢l to any material *Jepartures disclosed and eX￿ained in the finanual slatements,. and Prepare the financial 5ts1emenls on the g￿n9 concern basis unless rt is inappropriate to wesume that the charitable company thryll coftts'nue in business. The trustees are reSponsi￿e for keeping proper accoLJnting records *thi¢h disclose wlh reasonable accufacy at any time Ihe financial poS￿"0n of Ihe charitable company and enable them to ensure that the financial ststements comply the Companies Act 20(6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenbon and delecb.on of fraud and othef irregularities. SMALL COMPANIES EXEPJJPTIOM The above rewrt has been prepared in accordance with the speual provisK)ns of Part 15 of the Companies Act 2006 relating lo small Companies. Approved order the members of the board 2wr2024 and ggned on their behalf by.. trustees on Ta4 T R055berg Trnsts¢ Page 5 DIAMOND WAY TEACHINGS AND CENTRES IA Company limited by guaThnteel INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2023 Independent examinerfs report lo the truste•s of Diamond W•y Te•¢hlng$ •nd Centres Ilht ¢harity'l I report ta the ¢hanty tru$lee$ on my examination of the accounts of the charty for tr* year ended 31 July 2023. Re$pon$ibilitie$ and basis of report As the trustees of the charity land ts directors for the purposes of company lawl you are responsible for the preparati¢M of the accounts in accordance wth the reqLMrements of the Companies Act 20061.the 2006 Act'l. Having satisfied myself that the accounts of the chanty are not require(I to be audiled under Part 16 of the 2006 Act and are eligible for independent examinatr'on, I report in respect of my examinab.on ol the charrty's account5 carried out under se¢tion 145 01 the Charits"e5 Act 2011 rthe 2011 Adl. In carwng OLrt my examinatson I have fC4loV￿d the Directions given by the Charty Commisgon under seth"w 145{5llbl of the 2011 Act. Independent examin•rfs stat•m•nt Since the charity's gross income exceeded Q50.000 your examiner rnu51 be a member of a body listed in sectyon 145 of the 2011 Act. I confimi that l am qualified to undertake the examinab.on bKau$e l am a member of ICAEW, vthith is 01 the lisled bodies. I have completed my exarninab"￿. I confirm that no matters have come to my attention in connection wih the examination giving me cause to beI￿Ve.. accounting records were not kept in re$pe¢t of the tharty a5 required by secb.on 386 of the 2006 Act., or the accounts do not accord vth those records., or the accounts do not CoM￿Y vthh the accounb.ng fequiremenls of secbon 396 of the 2006 Act other than any requirement that the acC￿ntS give a Irue and fairf view vthich is not a matter eonsidered as part of an independent examinabon". or the accounts have not been prepared in accordance the meth¢xls and principle5 of the Statement of Recommended Pracbce for accounbng and reporbng by chanties lapplicable lo charities preparing their accounts in a¢¢ordan¢e wth Ihe Finantyal Repo￿"ng Standard applicable In the UK and Republic of Ireland {FRS 102)]. I have no concems and have come across no other maliers in Connection Vlith the examinatson lo vknith attenb.on Should be drawn in this report in order to enatle a proper understanding of the accounts to ￿ reached. Page 6 DIAMOND WAY TEACHINGS AND CENTRES (A company limit•d by guarantrel INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENOEO 31 JULY 2023 This report is made solely to the chanty's trustees. as a body, in accordance with Part 4 of the chariti.es (Accounts and Report51 Regulab"on$ 2008. My V•vrk has been undertaken so that I might State to the charitys trustees those matters l am required to state to them In an Independent examinerf$ report and for no other purpose. To the fvllest extent pemithd by law. I do not accept or assume responsibilty to anyone other than ihe charity and the charitys trustees as a t*>Jy. fty my work or for this report. Signed.. Dated.. 29104r2024 Robert Anderson FCA Streets LLP Tower House Lucy Tower Street Lincoln LN1 1XW Page 7 OIAIAOND WAY TEACHINGS AND CENTRES IA company Ilmlted ty guarante¢} STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING IMCOIAE AMD EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2023 Unrestri¢ted funds 2023 Restricted funds 2023 Totsl funds 2023 Total lunds 2022 In¢omefrom: L)onaknons and legacies Charrtable a¢bwties Other trading acts"wties.' Fundraising 109.216 199.740 17.226 109.216 199.740 28,318 113,212 184. 125 23,533 11,092 Total income 326.182 11,092 337.274 320,870 Expenditure on: Raising funds Charrtable a￿l￿ts"t$ 32.408 239.447 6.200 38.608 239,447 15,066 198,593 Tot•1 expenditure 271.855 6.200 278.055 213,659 Met movom•nt in funds 54.327 <892 59.219 107,211 Reconciliation of funds- Total funds brought foThYdrd Net movement in funds 1,771.993 $4.327 33.707 4892 1.805,700 59.219 1.698,489 107.211 T¢)tal funds carried forward 1.826.320 38,599 1.8fA.919 1.805.700 The Statement of financi￿ a¢ti¥ib'e$ indudes all gains and1055e5 recognised in the year. The notes on page5 11 10 20 form part of these fin￿￿￿al slatements. Page 8 DIAMOND WAY TEACHINGS AND CEIITRES IA company limited by guarnnteel REGISTERED NUMBER: 07700737 BALANCE SHEET AS AT 31 JULY 2023 2023 2022 Nol• Fixed a55ets Tangible assets 10 2.797.239 2.797.239 2,797.239 2,797,239 Current assets Debtors Cash at bank and in hand 75.027 232.S60 24.703 266.328 307.507 291,031 Credilor5'. amounts fèling due w)thin one year 12 155.111 (78.272) Net current assets 252.476 212,759 Total assets less current liabilities 3.049.715 3,009,998 CreJ. Oepreciation 15 provided on the bases: Freehold property Fixtures and fittwi95 - See Below - 25% per annum Freehold property is not deww'ated the grounds of immaterialty. Property is subject lo regular maintenance and repair such that in the trustees ownion the residual value is not materially drfferenl from the value in the financial ststements and ha5 a kng u5efvl economic life. The trustees consider the need for impainnent at period end. 2.6 D•btt)rs Other debtor5 a￿ recognrsed at the setuement amount after any trade discount offered. Prepayment$ are valued at the amount prepaid nel of any trade discO￿lts due. 2.7 Uabllltles Liabilrtie5 are recognised vthen there is an obligat￿n at the Balance sheet date as a result of a past evenL il is probable that 3 tran51er of economic benefit be required in settlement. and the amount of the settlement can be esbmated reliaw. Liabilibes a￿ re¢c#3nised at the amount that the c￿"ty ants"apates il V4ill pay to settle the debt or the amount it has received as advanced payynents for the p)ds ¢* seThi¢ts rt musl prwde. 2.8 Financial instruments The charity onty has finanaal assets arKI financial liabilities of a kind that qualify as basie financial instruments. Basic financial instnjmenls are inib.alty recogni5ed al transaction value and subsequently measured at thar setuement value the exception of bank loan5 which are subsequently measured at amortised cost using the effective interest method. 2.9 Fund accountlng General fund$ are unrestricted funds are available for use at the diSCret￿n of the trustees in lurtheran¢e of the ger*al obje¢ts"¥es of the and vknith have not been designated for Other purposes. Restricted fuftds are ftjnds ￿th1¢h are to be used in accordance specific restrictions imposed by donors or vthi¢h have been raised by Ihe Charity for parb"cular purposes. The cos15 of raising and administering such funds are chafged against the specific fvnd. The aim and use of each restrictsd fund is Set out in the notes to Ihe financial statements. Page 12 DIAMOND WAY TEACHINGS ANO CENTRES (A comp•ny Ilmit•d by guardnte81 MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Income from donations Unrestricted Restrl¢ted funds funds 23 2023 Total funds 2023 Tdal funds 2022 Donatlons DWB Transfer 74,849 38,363 Donati1￿5 109.216 109.216 109,216 109,216 113,2t2 lTrcome from charilable •¢livities Unrestricted funds 2023 Total funds 2023 Total funds 2022 Education on Tibetan Lay BLthlhism 199.740 199.740 184. 125 Fundraising income Incorne from lundrnising •v•nts Unreslrfcted R•stricted fund$ nds 2023 2023 Total funds 2023 Total rund5 2022 Dhamia Shop Dharma Events Manchester Centre Northem Retreat 8,557 5.409 3.260 8,S57 5,409 3,260 11,092 9, 790 3.623 4.564 5,556 11,092 17.226 11.092 28.318 23.533 Page 13 DIAMOND WAY TEACHINGS AND CENTRES IA company limit•d by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Exptnditure on raising fvnds Fundraising trading •xp•ns•s Unrpstricted Re5tri¢te41 funds funds 2023 2023 Total fund$ 2023 Tolal lunds 2022 Dhamia Shop Dharma Events Manchester Centre Northern Retreat Fundraising Campaign Costs 11.950 1.175 2,560 11.9SO 1.175 2.560 6.200 16.723 9. 137 119 4.432 1.378 6,200 16.723 32.408 6.200 38.60B 15,066 Total 2022 13.688 1,378 15,066 Analysis of expenditure by aclivitles Acti¥iiies undertaken directly 2023 Support costs 2023 Total funds 2023 Tolal funds 2022 ChairtalAe Activty Costs 6.775 232.672 239.447 198,593 Analysls of dlr•ct costs Total fvnd$ 2023 Total funds 2022 Krtchen 6,775 2,537 Page 14 DIAMONO WAY TEACHINGS AND CENTRES (A company limited by guar•nts•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2023 Anatysis of expenditure by activit*s Icontlnuedl ADatysl$ of support ¢osts Total funds 2023 Tolal funds 2022 Building Costs 59.404 49.981 4121 80A43 16.438 9,68S 3.600 9.0011 94,990 28,731 (7.547) 51, 198 13,354 6,330 3.000 Sundry Expenses Loan Interest P￿d Insurance Housekeeping Govemance Costs Professional Fees 232.672 196,056 Independent examinerfs remuneralio The independent examinerts remuneration amounts to an independent examiner fee of £1.800 (2022 - EI.800J, and accounts preparats.on senrice5 of £1.80012022- £1.500). TN$tee$' rwhunerntlon and expen During the year. no trustees received any remuneration or other benefrt5 (202Z- £NIL). During the year ended 31 Juty 2023, no trustee expenses have been in¢urred (2022- £NIL). Page15 DIAM014D WAY TEACHINGS AND CENTRES (A ¢tyDpany limited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 10. Tangible fix•d ass•ts Freehold Fixtures and flttlngs Total Cost At 1 August 2022 3.106.726 47.596 3.154.322 At 31 July 2023 3.106.726 47.596 3.154.322 Depreciation At 1 August 2022 309.487 47.596 357.083 At 31 Juty 2023 309.487 47.596 357.083 Ntt book value At 31 Juty 2023 2.797.239 2,797,239 At 31 July 2022 2. T97.239 2,797.239 11. D•btovs 2023 2022 Other debtors 75.027 11,125 13,578 Prepayrnents arKI accrued income 75,027 24, 703 Page 16 DIAMOND WAY TEACHINGS AND CENTRES IA compary limit•d by guarnnteel NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 JULY 2023 12. Creditors: Amounts falling duo T•ithin ono year 2023 2022 Bank loans Other Creditors 40,181 54.628 11,293 12.351 Accruals 14.930 55.111 78,272 Bank loans are repayable in equal monthty instalment5. Interest 15 tharged at 3% above base rate. Bank loans are secured by IW charges over the Ireeholo rrfopety owned by the charity. 13. Creditors: Amounts fallin9 due after move than on• year 2023 2022 Bank loans 1.184,796 1.204,298 The a99￿gate amount of liab￿￿S payable or repayable *tholy LY in part more than five years after the reporting date is". 2023 2022 Repayable by instalmenls 983.909 962. 769 983,909 962, 769 Bank loans a￿ repayable in equal monthly rn51almerrts. Interest is chargety al 3% above base rate. Bank loans are secured by legal charges over the freehold property 0￿e￿ by the Charty. Page 17 DIAMOND WAY TEACHINGS AND CENTRES IA cofflp•ny limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED J1 JULY 2023 14. Statement of funds Statement of funds . current y•ar Balance at 1 August 2022 Balance at Income Eyndl¢ure 31 July 2023 unres1rl¢t￿ Funds General FurK15 1.771,993 326,182 1271,8551 1,826.320 Restricted F￿dS Northern Retreat 33.707 11,092 {6.2001 38,599 Total of Funds 1.805.700 337,274 (278.0551 1.864.919 The charity held resln.cted incume lurHls for compleb.on of purchase of Ihe UK Retreat Centre. Statement of fund5- prior year Balance at l August 2021 Balance at Income Expendrtu￿ 31 Juty 2022 Unrnstricted Funds General Funds 1.698.489 285, 785 (272.2811 1.771.993 R•strict•d Funds Northern Retreat 35.085 f1.378) 33. 707 Tolal of Funds 1,698,489 320.870 (213,659) 1,805, 700 Page 18 DIAMOND WAY TEACHINGS AND CENTRES IA Company limited by guarnnt80) NOTES TO THE FIP4ANCIAL STATEMEMTS FOR THE YEAR EIIOED 31 JULY 2023 1S. Summary offunds Summary of funds- curvent yeav Balanc• at 1 August 2022 Balanc• at Income Expenditure 31 July 2023 General lund$ Restricted funds 1,771,993 33.707 326,182 11.092 1271,8551 16.2001 1,826,320 38,599 1.8OS.7DD 337.274 1278,055) 1.864.919 Summary of f￿ds- prior year Balance at 1 August 2021 8818nce at IncrNne Expendrfure 31 July 2022 General funds Restricted funds 1.698,489 285, 785 35,085 (212,281) fl,378) 7. 771,993 33.707 1,698.489 320.870 1213.659) 1.805.700 16. Analysis of net assets between funds Anatysis ol net assets between funds - ¢urnnl year Unrn%tricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2.797.239 268.988 155.111) (1.184,796) 2.797,239 307.587 155,1111 11.184.796) 38.599 Total 1.826.320 38.599 1,864.919 Page 19 DIAMOND WAY TEACHINGS AND CENTRES IA compary limited by gu•rdnleel NOTES TO THE FINANCIAL STATEIIIENTS FOR THE YEAR ENDED 31 JULY 2023 Analysls of net •$sets bet**en lunds {con¢finued) Analysis of net assets between funds- prior year Unresliicted funds 2022 Restncted lunds 2022 Total fvnds 2022 Tangible fixed a55ets Current assets 2.797.239 257.324 (78.272) (7,204,298) 2, 797,239 291.031 (78,2T2) fl.204,298) 33.707 C￿d￿Or$ ¢Jue Imthin one year CredrtOTS due in more than one year Totsl 7,771,993 33.707 1,805, 700 17. Member5. liability Each member of the charitable company ￿dertakeS to contribute lo the assets of the company in the event ol rt being wound up lthile helshe is a member, or wrthin one year after he I she ceases to be a member, such amount a5 may bE required, not exceeding £1 f(K the debts and liabilities contracted before he I she ceases to be a member. Related paty transaclions Tru¥tses- Totsl income received from tnjstees during the year Was £9.22812022 - £3.613). There are no balances due from the trustees at erther yeaf-end. Expenditure paid to the trustee5 duriry the year totalled £9,469 {2022 - £nill. There are no balances due to the trustees at either year*nd. Amounts paid in relatic¥Tr to trustee remuneratmin and expenses are disclosed in note 8. Rdati¥•s of Trnst••s: Relatsves of trustees relates to close famity members and spouses. Totsl inGome receNed from relab.ves of Iru$tees during the year was £1.040 12022 - £1.0801. There a￿ no balances due from relatives of trustees at the year4end. Page 20