Rogislered number: 07700737 Charity numb•r: 1143034 DIAMOND WAY TEACHINGS AND CENTRES (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 *AÉ•SEYB COMPANIES HOUSE
DIAMOND WAY TEACHINGS ANO CEMTRES (A c(¥npany limited 14 guaranteel CONTENTS Page R•f•r•n¢e and adminfistrallvo dètslls of the charity. fits Tnffjtées and advisers Trustees. rewl Indondont •x*fflinerfs report Slatem¢nt of fin•n¢lal acllvlllgs Balanc• sheet 9-10 Nol•s ID the financial statements
DIAMOND WAY TEACHINGS AND CENTRES (A company limit¢d ty glants•) REFERENCE AND AI)MINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES ANO ADVISERS FOR THE YEAR ENDED 31 JULY 2024 Trustses R Bihun O Mofftss S Mierzejevvska T Rossberg Dr L Shalamanova-Malin(yAtskn' Company Registered Number 07700737 Charity Registered Numb•r 1143034 R•gist•red Office 39 81ack Prince Road London SE11 WJ Company S•crntary A Wamer Accountants Streets LLP Chartered Ac0)UnLts TO¥ House Lucy Tower Street Lincoln LNI 1XW Bankers Unrty Trust Bank ¢ 9 Bftndley Place B¥mingham 81 2H8 Page 1
DIAJIJOMD WAY TEACHINGS AND CENTRES IA ¢<¥npony limitsd ty guarants•) TRUSTEES. REPORT FOR THE YEAR ENDEO 31 JULY 2024 The trustees present their annual report together vh Ihe finan¢ial $tslements of the Diarnond Way Tea¢hing$ and Centres Ilhe'charity") for Ihe year 1 August 2023 to 31 July 2024. The annual report serves the purposes of both a trustees. report and a directors. report Under cornpany law. The trustees conffimi that the annual rert and financial statents of the charrtable Company comply WTlh the Current statut¢xy requirements. the requirements of the charrtable company's goveming docLtment and the Provisions of the Stslemenl of Recornmended PraLtice ISORPI applicable to charities preparing their accounts in accordance wth the Financial Reporb"ng Slandard apph"cab in the UK and Republic of Ireland IFRS1021 as amended. Since the charity qualtfies as small under section 382 of the Companies Ad 21)06. the strategic report required of medium and large cOrnPan5 under the Companies Act 2006 (strateg Report and Directors. Reporti Regulations 2013 has been omrtted. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitirtion. Ofganis•tion andMembw5' Liability The charity is a charitable Company limrted by guarantee wlh no Sha capiial {¢ompany number 07700737 incorporated on 11 July 20111 and a registe Cty Ichanty number 1143034 registered on 22 July 20111. The charity is managed by a boarf of tnJ5tees. The tnjstees of the dwrity, are also directors of the company, who served ¢Juring the year afy irtGluded on pa9e 1. Each member of the tharitable company undertake5 to contn.bule to the a55ets olthe charitable company in the event of it being wound up vthile they are a member. or Vlrylhin one year after they cease to be a member, such amount as may be required. not ex¢eeding £10, for the debls and Iiabilth"e5 contracted before they ceased to be a member.The rrmbers are the guarantors OF the chanty ¥#J tr number of members is Ihree. Re¢Milmen¢ Appoinlment and Training olNew Tntstees The tiustees are appointed by the members of the Charitab coffyany. Potenb"al new appointments are discussed at members, meetings and a shortlist agreed of those to be approached. Candidate5 are then approached lo estatAish lthether they are wlling to serve and rf so, appointments are then confimied at the nexl meebng of the members. The wliues and procedures adopted for the inducts'on ar training of new trustees are taiknred to their individual needs, comrnensurale wth their experien¢e. ensunng that they understand their obligations and p)ssess a suffity.enl krKythedge as lo how to discharge them. The powers and duties of the trustees are set out in the A"¢le$ of Associath"on. The trustees are eMp0vred to manage the bu5ine55 of the tharrtable company and exercise all such POV*Ers of the charitable company that are not quired to be exercise<l by the chartlable Company in General Meeb"ng. Page 2
DIAMOND WAY TEACHINGS AND CENTRES (A company limited by guaAntsè) 08JECTIVES AND ACTIVITIES Charty Objects The objects ofthe charity are the wbl¢ benefft lo.. Educate the pU1C n the United Kingdom and wOddWe by Promoting a greater awareness antj undefstsnding of Tb)etsn lay Buddhi$m aThJ the of Tibet by.. The pSk)n of educational faalrtie5. libranes cuwural centres", and bl The teaching and Practi of lay Buddhist philosoFthy wthin the tradition of the Kanna Kag lineage of Diamond Way Buddhism under the spiritual authonty of his hol(ness the 17th Karrnapa Trinley Thaye Oooe and Lama Ole Ny¢YaN and their SLttessors.' and 21 To Inaintain, support or contribute toward5 such or more ex¢lusNely ¢harrtable purposes or ¢haniable companies, inslilutions, asso¢iats"on$, trusts and scaetses in the Unrted Kingdom or elsewhere in ihe world that seek to advance the lay tradIt2n of the Karma Kagyu k"neage of DiarTh)nd Way Buddhism under the spintual aLth¢m of his hdinek the 17th Kamiapa Thaye Dorye and Lama Ole Nydahl and th•r successors. Iruslees confirm that they have le[red to the guidance ¢trIned in the Charity Commission's 9eneral guidance on public benefft when en9 the chanvs objectives and aims. REPORT ON THE YEAR The charity conb.nues to to prn0te understandiNJ of Owiond Way Buddhism in the UK and intemationalty. In 2013, ltre charity took fijll freehold px)55ession of tre f0mr 8eautoy Instilule, 39 Bk Prince Road, London SE116JJ for the purp)ses of fvrthering the chanty's aims. Throughout the financial year work was undertaken in re¥ect of a nurnber of renovation and construction works on the Beaufoy. Volunteers continued lo assist throughoul Ihe year with the refufbishment and resloralK)n of the buikJing. Addth'onaly. professional contractors were irsstructed to assist in the Building RegulatnS Compliance project. By the end of the perio(J, approximately 80% of the project was completed. The charity supporte(I several events and ongoing actwities to Dm0j Way Buddhism this financial year, including meditation and lectures. including travelling teathers and wrth Lama Ole Nydahl (including a onlirte streaming}. A major event was held at the Beaufoy Inslrtijte to host HH Gyaa Karm8p8 Thaye Done who gave a weekend of lectures and emFrfMemients. A total of 1,231 partiupants joined the weekend evenl which was a great success. The feedback from pa1bcatS was very positwe of all aspects ofthe course. Furthemore. many people attending the tharilys centre travelled both in the UK and wortdwKle to asgst in national and intemab.onal projects and ccwrses. As 3 $Urt of the merger of the charity Diamond Way Butjdhism UK dLrring the prior year. tr* eharty has beffe the sole organisalion coverir4J all Diamon(I Way activty awss the UK. Page 3
DIAMOND WAY TEACHINGS AND CENTRES IA company limited by guarnnteel FINANCIAL REPORT Results for Ihe YearandFunds The results for the year are Set out on the Statement of FinancAal AcIMtS and show that the clwity's net incoming re$our¢es on all funds during the yearamounted to £159,48012023_ £59.2191. At the year-end fe ServeS. exduding fixed assets and asso¢ted btsrrn amounted to £363,24012023 - £254,058). The chanty is funded by dOnatrS. irxxme an¢Y loans from a reputable UK bank. There a currenuy no restricts'ons on the charity's poer to invest. The trustees consider the income requirements of the organisation against the InCe prospects. The charity continue5 to raise money for the fijnding of the developrnenl of ils centre at the Beaufoy in Londm. Reser Policy trustees consider that sufficient but not ex¢e$$ive erVeS need lo be built up to meet the Commitments of the charity. The serveS policy 15 to ensure that sufficient frjnds are available to cover the running costs and fU15hr(nt plans in accordance with the tr09et. Risk Alanagement The trustees have considered the major risks to ¥thi¢h the Charty is exposed. In mmon th many charities of a similar size and those that manage buildir¥Js, we have undertaken a number of risk management protocols including the folloymg ones on srte.. There is an overall H&S Risk Assessment covering Ihe building works in the Beaufoy. This 15 based on those areas involved as being Vie1 a ¢onstruclion site_ Method stslements and risk asses$menl$ a used for all work5 induding those for volunteers, are gi¥en training and appropriate Personal Protective Equipment as well as being supermsed as required. Regularwalkthroughs a made by the designated risk olfi¢er and working with the Site Supervisor and Managers he takes care to remove, contain or manage any potential hazards or perceived risk5 in both the c105ed and public areas of the Beaufoy. He also draw3 up a separate H&S Risk Assessment and Fire Risk Assessment vthenever there is an event in the building. speofic lo that event. We have also draw up a PEEP IPersonal Emergency Evacuation Plan) for disabled persons should they visit. A number of the community have been trahned frK First .. Level 2 Food Safety in Catering and in Fire Safety. The Injstees have also established systems and wccedures to athjress any reputatsonal and olher risks to the charity. FUTURE PLANS The charity is planning visits from many High Lamas of the Karma Kagyw Lineage. including further visits from Larna Ole Nydahl andlor his representatives. The chanty V•ill support the continuing development of the Charity's organisation and infraslru¢ture so as to best serve tre Objects. Page4
DIAMOND WAY TEACHINGS AND CENTRES IA c(ffipany lirnited ty guarnnteel GOING CONCERN tharity has prepared a cashflow forecast that tskes into account increased revenue from rts activitses arid the in¢ased cosl of utilities arKS loan financmig. Menr dmab.S Iwe increased as a result of the forecast. Further to improve the infrastructure of the building is ongoing and has been budgeted for in respect of building complian¢e gUla.0s, 80% of vthich vras compleled by the end of the period under review. The installation of an anti-fflood prevention System. The renOvaln of the Great Hall is planned for 2025 a$ well. The funthaisirKJ campaign as an lnlemab.onal Diamond Way proie¢l was vwy successfijl. 8y the end of the period an amount of £225,000 had been raised from this project. A lurther net amount of £25.000 %Ya$ raised from donations relating to the Kammpa 2024 event that took place at the Beaufoy on 13-14 July. STATEIAENT OF TRUSTEES, RESPONSIBIUTIES The Iruslees who are also the director5 of the tharity for the pUrre5 of mPanY law are spOnSible for preparing the ffinancial statements in accordance ¥th applicable law and United King<Jom Accounting Standards (United Kingdom Generally Accepted Accc¥JntsrvJ Pracb"ce) Company law and charity law require the trustees lo prepare financial stslements for eath finanoal year give a true and fair view of the incoming resources and application of resources. including the inco and expenditure. of the charitable company for that period. In eparing financial stslements the trustees are required to." select suitable accounts'ng and then apply them consistently., obseThe the methods aTrd printiples in the Chanties SORP," make judgments and esbmates that are reasonable and prudent., State Ythether appliCae UK Accounting Standards have been ftAlxd, subj.ect to any material departu5 disclosed and explained in the financial statements". and epare the finanoal stements on the gTrng concem basts urless it 15 inappropriate to presume that the charitakAe company wll continue in Isiness. The trustees are responsible for keeping proper accounting recoTds tAthith disclose with aSOna1e acojracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wth the Companies Act 20C6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenbon and detection of fraud and other irregularits"es. ShlALL COMPANIES EXEMPTION The above report has been prepared in aceordance tprith the ¥*ekg1 prows$ of Part 15 of the CompleS Act 20CE relating lo small rnpanIeS Approved the members the of arwj on their behalf by.. tnJ5tees on 25103r2025 T Ros$b•rg Tru$to¢ Page 5
IXAMOND VIAY TEACHINGS AND CENTRES IA c(¥npany limited by guarnnteel INDEPENDENT EXAPJJINERE REPORT FOR THE YEAR ENDED 31 JULY 2024 Indèpendenl examinerfs report to th• trustees of Oiamond Way Teachings and C•ntr•s Ilh• charity'l I report to the charity trustees on my e%lA31 of the actounts ofthe charity for the year ended 31 Juty 2024. Rospon$ibilities and basis of rep¢yt A$ the tnjstees of the ch¥ty land its directh for the PUfP)se$ of company law) you are responsib for the preparation of the aCCnts in accordan Vlth the requirements ofthe Conyanies Act 2006 Ilhe 2006 Act,). Having satisfied myself that the accounts ol the chanty We not required to be audrted urthr Part 16 of the 2006 Act and are eligibk for independent examination. I report in respect of my examination of the charity's accounts carried out under section 145 of the Chanties Act 2011 Cthe 2011 Arf). In carying out my examination I have followed the Dire¢tiorts given by the Charity.Commission under secb.on 14515llbl of the 2011 Act. Independent examwe$ Ststement Since the chafivs gross iruime exceeded £250.000 5ul examiner musl be a member of a body listed in . section 145 of the 2011 Act. I confirm that l am qualthed to urtdertake the examination because l am a member of ICAEW. 1¢ is one of Ihe listed I)0J. I have completed my examination. I confimi that rw) matters have come to my attention in connection wth the examination giving me cause to bdie¥e'. ac¢ounb"ng e0rd$ V&*re not kept in respect of the as required by sectthi 386 of the 2006 Ad: or the accounts do not accord wilh those records. or the accounts do not coMY wth the ac¢Ounb. rernents of section 396 of the 2006 Act other than any qUirement that the accounts give a Irue and fairf wew %¥hich is not a mattef considered a$ part of an in¢Jependent examtnatK)n". or accounts have not been prepa in accordance the melhods and principles of the Statement of Recommended Pr8Ctte for accounting and reporbng by charibes lapplicable to charities preparing their a¢nIS in accnCe with the Financial Rep)rb"n9 SlarKlard apate in the UK and Republic of Ireland {FRS 10211 I have no concems and have me across no olher matters in connection the examinalK)n to wh attention shoultl be drawn in this report in order to enable a proper understandin9 ofthe accounts to be reached. Page 6
DIAMOND WAY TEACHINGS AND CENTRES {A ¢c*npany limit•d by guarnntse) 1140EPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 This report is made solely to the tharity$ trustees. as a body. in accordance Part 4 01 the Charities IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the charitys trustees those matters l am reqvired lo stsle lo them in an independent examinefs report for nts other purpose To the fullest extent pemiitted by law. I do nol a¢¢ept or a$sume reSponsiblty to anycffle other than the chanty and the tharitys trustees as a body, for my work or for this report. Signed." Dated." 17104r2025 Robert Anderson FCA Streets LLP Tower House Lucy Tower Street Lincoln LN1 1XW Page 7
OIMIOND WAY TEACHINGS AND CENTRES (A canpany limit•d by guarantoel STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2024 Unrestricted Restricted funds funds 2024 2024 Total fvnds 2024 Total funds 2023 Income from: Donation$ and legae$ Chafitsble ath"vthes Other trading actNib'es'. Fundraising 37.367 287.969 357.250 37.3ffj7 287.969 366.759 109,216 199.740 28,318 Total incom• 682.586 9.509 692.095 337,274 ExndIt on: Raising funds Charitsble 8th"vrties 88.368 442.710 1,537 89.905 442.710 38.608 239.447 Total expenditu 531,078 1.537 532.615 278,055 N•t mo¥em•nt in funds 151,508 7.972 159.480 59,219 Reconciliation ol fvnds: Total funds brought forward Nel movement in funds 1.826,320 151AO8 38.599 7,972 1.864.919 159,480 1.805, 700 59,219 Total knnds carri•d fxward 1.977.828 46.571 2.024.399 1,864.919 The Slemenl of financial acti¥rt*s indudes all gains arn1 losses reo)gnised in tre year. The notes on pages 11 to 20 form part ofthese finanaal statements. Page 8
OIAIAOND WAY TEACHINGS AND CENTRES IA cc¥npany limited by guarantse) REGISTERED NUMBER: 07700737 BALANCE SHEET ASAT 31 JULY 2024 2024 2023 Nole Fixed assets Tangble assets 10 2.799.3B2 2,79T,239 2.799.382 2,797,239 Current assets Oebtors Cash at bank and in han 10.791 414,123 75,027 232,560 424,914 307,587 Credilofs.. amounts falling due V•rthin one year 12 {83,8731 (55,111) Net currgnt assets 341.041 252.476 Total assets levs ¢urrent liabililies 3,140.423 3,049, 715 cdItOrS amourts tslling due after mo than one year 13 11.116.024) (1, 184,796) Totsl net ass¢ts 2.024.399 1,864,919 Page 9
DIAMOND WAY TEACHINGS AND CENTRES IA ¢(wnpany limited by guarantee) REGISTERED NUMBER: 07700737 BALANCE SHEET {CONTINUED) ASAT 31 JULY 2024 2024 2023 Charity funds Restricted funds 14 46.571 1.977.828 38,599 1.826.320 Unstricted lunds 14 Totsl funds 2.024.399 1,864,919 The ¢harity was ented lo exemption from audit under seth.on 477 of the compan Acl 20C6. The members have not reqUId Ihe company to obtafft an audit for the year in qLStion in aeeordance vAth section 476 of Coryanies Act 2006. The trustees acknowledge their resp)rtsibilthes for comp"n9 th the requirements of the Act wrfh respect to attounb.ng record5 and preparab.on offinala1 sLments. The ffinancial statements have tjeen ppared in accordan tmth the applicabk to entities subject to the small ¢ompanie$ gIMe. The financial ststements re approved and aulhrffl5ed for issue by the trustees 25103r2025 and Sne{l on their behalf by. Ros Tiustee The notes on page5 11 to 20 form part of these finala1 slaterrnts. Page 10
DIMIOND WAY TEACHINGS AND CENTRES (A c<¥npany limited by guarantael NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 G•neral infovmation Diamond Way Teachings and Centres {Ihe chantyl is a limited MpanY by guarantee incorporated England and Wa$ and a regislered chanty. The chartW$ registered offKe is London Diamond Way Buddhist Centre. The Bea0y. 39 8la¢k Prince Road, London, SE116JJ A¢¢¢>unting policies 2.1 Basis of preparation of financial statsments The financial statements have been prepared in acts)rdance ryth tr Charilies SORP {FRS 1021- Accounting and Rew)rting by Charities". Stslement of Remmended Practice applicable to chaftlies preparing the¢r aUnIS In acwTdance V•ith the Financral Reports"ng Standard applicable in the UK and Republic of Ireland {FRS 102}, the Financial Reporting Standard appIable in the UK ano Re1 of Iland {FRS 102} and the Companws 20C6. Diamond Way Teathings and Centre$ meets the definition of a public benefit entity under FRS 102. Assets and liabllrtS are initialty recognised at historical cosi or lrnnsa¢tion value unless olherwse stsled in the relevant ae¢ounb"ry rAIIw. 2.2 Company Stalus The tharity 1$ a company limited by guarantee. The mervthrs of the company are the trustees named on page 1. In the event of the charity being %Und up, the liatilty Spect of the guarantee is limited lo £1 per member of the ¢hartty. 2.3 In¢¢)m• l income is recognised On the charity has enb"Uement to the income. it is probable that the income W411 be received and the amwnt of income receivable can be measured reliabty. 2A EXpen(lire Expenditure is recc¥3nised once there is a legal or constructive obligab.on to transfer economic benefit to a third party, il is probable that a tsan5fer of e¢onomi¢ beneffts will be required in 5etUemenl and the amount of the ¢bligab"on can be asured reliably. Expendrture is dassified by adivity. The costs of exh a¢bvity afe made up of the total of d1ct Costs and shared cost5. Including support costs involved in undertaking each ath"wty. Fundraising costs are those incurred in seeking Voluntary contn'butions and do not include the cosls of disseminating informab'on in support of the chantable acb¥th"es. Expendrture on chantable acbvib.es 1$ inCUrd on directly undertaking the act$ve5 lch fvrihef the charitys oty'ectives, as 11 as any asswated support O)5ts. All expenditu is indusive of irrecovernbie VAT. 2.$ Tangiblg fixod a$$ets and dgprnciation Tangible fixed asse15 cosb.ng £500 or mfft are caprtalised and recognised when future economic benefits are probable and the cost ty value of the assel can be measured reliaNy. Page 11
OIAMOND WAY TEACHINGS AMO CENTRES IA company limited by guarnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMOED 31 JULY 2024 Accounting policie5 {conlinuedl 2.5 Tangible fixed assets and depreciation qcontinu•dl DekYetyatiM is d)arged so as to amocate the cost ol tangible fixed assets less their residual value over thr estinated uselul lives. using the sb3vJht4Mie methtrJ. Depreoalh)n is wowde(l on the folkning bases". Freehokj prowrty Fixtures and rrttings - 25% per annum FehokI propety is not depwated grDund5 of immaterialrty. Propety is subject to regular maintenance and repair such that in the tru$tees opinion the residual value is not Material different from the value in the financial ststements and has a long useful economic life. The trustees consider the need for impairment at exh period end. 2.6 Debtors Other debtors are recognise<l at the setuemenl amount after any trade discount Offe. Prepayments are valued at the arnunt prepaid net of any trade discount5 thJe. 2.7 Liabilittes Liabilities are recognised when there is an otyligation at the Balan sheet date as a result of a past event, rt is probable that a transfer of ecmomic benefit Vill be required in setuement, and the amount of the settlement can be esljmated reliably Liabilrties are recognised at the amcwnt trwt the chanty anb"tspales rt W711 pay to settse the ¢Jebt or the amount it has received as advanced paJThents for Ihe 9ood$ or services it must provide. 2.8 Financial instnwTr8nts The tharity onty has finan¢ial a$seb and financial liabil"e5 of a kind that qualify as basic financial instruments. Basic finanual instruments are initially recognised at tranSactn value and subsequently mea$ure¢J al their settlement value vAth the excepb.on of bank loans which art subsequently measured at amorb'sed cost n9 the effecbve interest method. 2.9 FWKI accounling General funds are unrestrled funds whth available for use al the di%cotion of the trustees in furtherance of the general objecti¥es of Ihe Chanty and which have nol been designated for other purp)5e5. Restricted funds are fvnds which are to be used in accordance ScIfiC reStriCtnS imposed by donor5 or %¥hith have been raised by the charity for particular purposes. The costs of raising and administering SLth funds are thafged against the speufic fvnd. The aim ¥d use of each $tricted fvnd is set out in the notes to the financial stslements. Page 12
DI10ND WAY TEACHINGS AND CENTRES IA company limited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMOED 31 JULY 2024 kncome froffl d¢)nations Unrestri¢t•d T¢tsl fund5 2024 Total funds 2023 2024 Donations 37.367 37,367 109.216 Income from charitable activities UMe5tricted funds 2024 Total funds 2024 Total funds 2023 Educalirm on Tibetan Lay Buddhiyn 287.*9 287.969 199.740 Fundraising In¢ome Income from fundraising events Unrnstricted R¢strF¢ted funds 2024 Totsl funds 2024 Tofal funds 2023 2024 Oharma Shop Dharma Events Manchestef Centre Northem Retreat Intemational Diamond Way Fundrain9 Proiecl Gift Aid 15,766 130.264 1.217 15,768 130.264 1.217 9,509 8,557 5.409 3,260 tt,092 9.509 187.7 22,205 187.796 22,205 357,250 9,509 366.759 28,318 Page 13
DIAPAOND WAY TEACHINGS AMD CENTRES IA ¢¢>npany limited ty guarnnt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Expènditure on raising funds Fundraising trading expens Unrnstricted Restrictsd fund5 funds 2024 2024 Total funds 2024 Total funds 2023 Dharma Shop Dhamia Evertts Manchesler Centre Northem Retreat Fundraising Carnpan Costs 6,372 75.202 619 6.372 75.202 619 1.537 6,175 11,950 1,175 1.537 6,200 16,723 6.175 88,8 1,537 89,90S 38,608 Tot812023 32.408 6.2 38,608 Analysis of expendityre by a¢livities Aetivities )dertaken directy 2024 Support costs 2024 Total funds 2024 Tolal funds 2023 Charitabk Activity Costs 36,357 406,353 442.710 239,447 Analysis of dirnct costs Total funds 2024 Total funds 2023 fjtchen 36,357 6,775 Page 14
DIAPA)WD WAY TEACHINGS ANO CENTRES IA company limited by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2024 An•ly$is of expendithfe by acllvities Icontinued) Analysis of support costs Total funds 2024 Tolal funds 2023 Depreciation Building Costs Uts'lities 122,163 63.S07 73.937 99,140 18.778 2.636 3.780 22.366 59,404 49,981 4. 121 80,443 16.438 9,685 3.600 9.000 Sundry ExFenses Loan Interest Pd Insurance Housekeeping Govemance Costs Professional Fees 406,353 232.672 Indgpgndonl oxamlngrf$ refflunoralion The independent examiners remunerab.on amounts to an independent eXaMer fee of £1,890 (2023 - £1.800J. and accounts preparatkjn services of £1.890 (2023- £1.800J. Tru$t•es' r•muneration and expens During the year. no trustee5 received any reuJneTan or other benefits (2023- £NIL). Dunng the year ended 31 July 2024. no twstee eypenses have teen m¢urd (2023- £NIL). Page 15
DIAMOND WAY TEACHINGS AND CENTRES (A ¢ompany limited by guaTrnt•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 10. Tangible fixed •ssets Fre•hold Fixtyffes and p)rty rIng5 Total Cost At 1 August 2023 Additions 3.106.726 47.596 2.189 3.154.322 2.189 At 31 JLdy 2024 3.106,726 49.785 3.156.511 Oepr•ciation At 1 August 2023 Charge for the year 309.487 47,S96 3S7.083 At 31 JY 2024 309.487 47,M2 357.129 Mot book valu• At 31 JLdy 2024 2,797.239 2,143 2,799,382 At 31 Jirfy 2023 2, 797,239 2.797,239 11. 2024 2023 Other debtors 10.791 75,027 10,791 75,027 Page 16
OIAMOND WAY TEACHINGS AND CENTRES (A cnpanY limited ty guarantse) NOTES TO THE FINANCIAL STATEMEPITS FOR THE YEAR ENDED 31 JULY 2024 12. Crndltors: Amounts fall•rvJ du• within one ywr 2024 2023 Bank loans Accruals 68.771 15.102 40, 181 14.930 83.873 55,117 Bank loans aR payable in equal MthlY instslmenls. Interest is ¢harge¢J al 3% above base rate. Bank loans are secured by legal charges over the Ireehold property ovmed by the charity. 13. Creditor5: Amounts fallin9 due after more than one year 2024 2023 Bank loans 1.116.024 1, 184. 796 The aggregate amount of liabiliti'e5 payale or repayable Wlty or in part more than five Yea after the repo"n9 date 1$.. 2024 2023 Repayable by instalrnents 789.516 983,909 789.546 983,909 Bank toans are repayable in equal monthly instalmenls. Interest is charged at 3% above base rate. Bank loans are Svred by legal Charges over the freehokl wopety owned by the Charity. Page 17
DIAMOND WAY TEACHINGS AND CENTRES (A company limited by guar4ntse) NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 JULY 2024 14. Slat•ment offunds Statemont of funds - Current y•ar 8•lan¢• at 1 A$1 2023 Balance al In¢<M Exponditure 31 Juty 2024 Unrnstricted Funds General Funds 1.826.320 682.586 1531,078) 1.977.828 Re$lrfi¢ted Funds Northem Retreat 38,599 9.509 (1,537) 46,571 Total of Funds 1.864,919 692.095 IS32.615) 2,024,399 The chanty hekl restn"¢ted irKcfft fur$ for crIWeli of purthase of the UK Retreat Centre. ststement of funds- prior year Balance at l Augusl 2022 Balance al Inwno Expendilure 31 July 2023 Unrestrict•d Funds General Funds 1, 771.993 326. 182 (271.855) 1.826.320 Restrict Funds Northem Retreat 33.TOT 71.092 (6,2() 38,599 Total of Fund$ 1.805.7LXI 337.274 (278.055) 1,864,919 Page 18
OIAMOND WAY TEACHINGS AND CEMTRES IA ctynpany limlled ty guarnnt•el NOTES TO THE F114ANCIAL STATEMEIITS FOR THE YEAR ENOED 31 JULY 2024 15. Summary of lund$ Swnmary of lds. current year Balance at 1 Aut 2023 Balance at Income Expenditure 31 July 2024 General fvnds Restricted fvnds 1.826.320 38.599 682.516 (531.0781 1.977.828 {1.5371 46.571 1.864,919 692,09S 1532.6151 2.024.399 Summary of n"d5 - prioryear 8alanL¥ al l Atust 2022 Balance al ExpendituTr 31 July 2023 General funds Restricted fijnds 1, 771.993 33.707 326. 182 11.092 (271.855J (6.200) 1,826.320 38,599 1.805.7C 33T.274 (278,055) 1.864.919 16. Anatysis of net assets funds Analysis of net assets b•t*wn funds - currnnt riod Unrestricted Regtricted funds funds 2024 2024 Totsl fund$ 2024 Tangible fixed assets Current assets Creditors due within orE year Creditor5 due in more than one ar 2.799,382 378,343 183,8731 (1.116.024) 2,799.382 424.914 183.8731 11,116.0241 46.571 Tot•1 1,977.828 46,571 2.024,399 Page 19
DIAMOND WAY TEACHINGS AND CENTRES (A company limited by glantsel NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 JULY 2024 16. Analysis of net assets betvRen fund5 (continued) Anatysis of ng1 assets Iwtvffjgn fvn(ls. prEor par11 Unffjstncled fvnds 2023 RestrKted funds 2023 Total funds 2023 Tangitye fixed assets Current assets Creditors due within one year Ciedrtors due in MO than one ar 2.797.239 268,988 (55,111) (1.784, 796) 2.797,239 30T.587 (55,111) (1.184,796) 38,599 Total 1,826,320 38,599 1.864.919 17. Mombers. liabilty Ea¢h member of the charrtable uxnpany urtdertakes to ¢onln"bute to the assets of the wrtyny in the event of It being wound up Véhi helshe is a member. or wthin one year after he I she ceases to be a member. such amount as may be requwed. not exceeding £1 for the debts and liabilities contracted before he I she ceases lo be a member. Relal•d party traW¢tir$ Trust••s: Total cOMe rewved frcrfn trustee5 during the year as £11.088 (2023 - £9,228). There a no balances due from the trustees at ether year4nO. Expenditure pai(1 lo the trustees during the year tolalkd £nil12023 - £9.469). There are no balances due to the trustees at erther yearend. Amounts paKI in relabon to trustee renwneralw and expenses are disclosed in rM)te g. Relativ•J of Trusteeg: Relatives of trustees reLates to dose kmily members and spxJuse5. Total income received from relatives of tsu5tees during the yew was t5.970 12023 - £1.040). The a no bances due from ¥elatsves of trustees at the year*nd. Page 20