COMPANY REGISTRATION NUMBER
1482154
MADHYAMAKA KADAMPA
MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
31 DECEMBER 2020
Charity Number 509746
TDP Consulti
Clwtsred Accounlants
23 Peacefield
Marplc. StockTrf)rt
SK67

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEAqENTS
YEAR ENDED 31 DECEMBER 2020
CONTENTS
PAGE
Twstees Annual Report
Independent examinerfs report to the members
Statement of financial activities
Income and expenditure account
Balan￿ sheet
10
Notes to the financial statements
12

**MADHYAMAKA KADAMPA MEDITATION CENTRE COMPANY LIMITED BY GUARANTEE** 

**TRUSTEES ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

The Trustees, who are also Directors for the purpose of company law, present their report and December 2020. the unaudited financial statements of the charity for the year ended 31[st ] 

## **REFERENCE AND ADMISISTRATIVE DETAILS .** 

**Registered charity name:** Madhyamaka Kadampa Meditation Centre Ltd 

**Charity registration number:** 509746 **Company registration number:** 1482154 **Registered office:** Kilnwick Percy Hall Kilnwick Percy Pocklington York Y042 IUF 

## **THE TRUSTEES** 

The trustees who served the charity during the period were as follows: 

MHoyle GPugh GJameson Jennifer Andrews 

## **Secretary:** 

Paul Boseley 

**Bankers:** Barclays 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document** 

The charity is constituted as a Company limited by guarantee under the Companies Act and is a registered charity governed by the Memorandum and Articles of Association with all the Directors of the Company being Trustees of the Charity. 

## **Trustees Recruitment and training** 

Trustees are recruited form within the charity or from other similar charities so that they have a knowledge and understanding of the Charity's aims and workings. Each new trustee is guided by the current trustees and other members of the organisation. The trustees are also encouraged to learn from and keep up to date with the Charity's website and that of the New Kadampa Tradition - International Kadampa Buddhist Union. 

**-3-** 



MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT (¢ontinuedJ
YEAR ENDED 31 DECEMBER 2020
Organisational Strueture
The Trustees are also the Directors of the company and are elected ai the AGM. The Tn￿teeS
have appointed the Company Secretary to cary out the day-to-day rulln1￿ of the Centre.
Related Charities
The charity is a member of the NKT-IKBU which is an organisation made up of many centre
around the world V¥ith the same objects and share the same spiritual lineage as ivell as the
same Educational Programm¢s. They are all independent CF￿ritieS linked by their objects and
there is no financial dependency although funds may pass between centres to fulfil aims and
objectives.
0￿Ec[IvEs AND ACTIVITIES
Objects
The object of the Charity is to promote the Buddhist faity ptincipally through the t¢acbing
study, practice and the observance of moral discipline with the Buddhist tradition of Je
Tsongkhapa through the three New Kadampa Tradition Educational Progrdmmes.
The CI]arity aims to provide tranquillity to enable students to study, practice and observe the
moral disciplines as set out in the objects. This Iw achieved so far by establishing the
Madhyamaka Centre and teaching meditation to Buddhists and non-Buddhists to enable then
to maintain peaceful states of mind. A spiritual education is proNided to help people impmve
the quality of their lives and relationshtps others.
ACHIEVEMEiYfs AM) PERFORMANCE
Madhyamaka KMC continued to provide a wide range of public services to the surrounding
area and further afield during 2020. Meditation Classes in local tOWtt8 continued to be
p)pular, as did weekend meditation courses and retreats at the KMC. The World Peace Café
and Wolds Retreat Bed and Breakfast continued to exp2nl develop and incr¢&se in
p)pularity, and the grounds w¢r¢ frequ¢nt¢d by many visitots as a relaxing place of rest and
reflection. Madhyamaka also Continued to be FKgpular with other Kadampa Buddhist Centres
who visit on weekend retreats.
Th¢ C¢ntre continued ￿ be relÉant on volunteers from the wider community and local towns,
who are regularly involved on areas of th¢ Centre such &8 the Gift Shop, World Peace Café
arid gardens.

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT (cortiffl7u8d)
YEAR ENDED 31 DECEMBER 2020
FThA￿c￿L RE￿Ew
Fllnding Sources
Principally funds are received from rumiing courses and providing accommodation at the Centre,
donations receivable. operating the gift shop, B&B and World Peace Café and for n￿ning courses
at branches together with oth¢r fundraising events.
RESPONStBILITtES OF THE TRusfEES
The trustees (who are also directots of Madhyamaka KMC for the puryose of company law) are
responsible for preparing the Trustees Annual RetK)rt and the f￿anCIal statements in accordance
with applicable law and Llnited Kingdom Accounting Standards (United Kingdom Generally
A¢¢¢pted Accounting Prdctice).
Company law requitys the trustees to prepare financial statements for each fmancial year which
give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources, including the income and expenditure, of the charitable
Company of that period. In preparing these financial stAtements. the trustees are required to:
Select suitable accounting I￿)11CleS and the apply them consistently.
Observe the methods and principles in the Charity's SORP;
Make judgements and estimates that are reasonable and prudent;
stste whether applicable UK Accounting Stsndards have been followe(L subject to any
material departures dI￿10S¢d and explained in the financial statements.
Prepare the financial statements on the going concern basis unless it is appropriate to
presume that the charitable company will continue in operation.
The trustees are responsible olkeeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charttable company and enable them to ensure
that the financial statements comply with the Companies Act 2006.
Guidelines for the operation of its bank accounts are sd out in an intrrnal guidance manual called
'A Mopw Handbook,. A¢cordiny(Fly. all charity income is dewsited into the designated ITP bank
account matntained by the charity. A separate 'Daify RunningAccount' is matntained to fund the
daily running of the charity, a balance of no more that £25.000. drawn from the ITP a￿OUnt
as necewry.
The ITP account is revieiitd at least monthly to ensure that there is a minimum of £25.000
available to replenish the funds in the Daily Running Account. The trustees are of the opinion that
this ts a Comfortable level of f￿e reserves in order to maintain the basic operation of the charity
and to provide some surety against adverse fllwicial events, such as unbudgefrd expenditure to
failure to achieve income targets. This level is to ￿ reviewed annually by the trusfres.
The trustees 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 irregu12rities.
Major financial risks have bcen reviewed and systems and proCed￿S established to manage these
risks.

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT (¢￿￿¥￿)
YEAR ENDED 31 DECEMBER 2020
Registered orrice:
Kilnwick Percy Hall
Pocklington
York
Y042 IUF
SigDed on behalf of the Trustees:
Giles Jameson
T￿￿¢¢
..(dat¢)

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF
MADHYAMAKA CENTRE [c￿tin￿￿1
YEAR ENDED 31 DECEMBER 2020
I r¢port on the accounts of the charity for the year ended 31 December 2020 set out on pages 8 to 19.
RESPEcfIvE RESPOliSIBILTfiES OF TRUSTEES AND JNDEPEIYDENT EXAMINER
The trustees (who are also the dir￿torS ofthe company forthe purposes ofcompany law) are res￿nsIble
for the preEfdfdtion of the accounts. The ttU5tee5 consider that an audit is not required for
this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent
examination is needed. The charitys gross income exceeded £250,01)O and I am qualified to undertake
the examination bj being a qualified member of the Association of Certified Chartered Accountants.
Having satisfied m)Telf that the Charity is not subject to audit under company law and is eligible for
independent examination, it is my responsibility to:
exatnine the accounts under section 145 of the 2011 Ac(.
to follow the procedures laid down in the general Diff¢tions given by the Charity Commission
under section 145(5Xb) of the 2011 Ali and
• to stats whether particular matters have com¢ to my attentioD.
BASIS OF tNDEPEIYDENT EXAMINER'S STATEMENr
My examination was carried out in accorthce with the General Directions given by the Charity
Commission. An examination includes a ￿l,1¢W of the accounting records kept by the Clwity and a
comparison of the accounts presented with thos¢ records. It also includes consideration of any unusual
tÈems or disclosures in the accounts. and s¢ekin8 explanations from you as ITU5tee5 ¢onc¢rning any su¢h
matter5. The procedures undertaken do not proi'ide all the evidence that would be requtred in an audil
and consequently I do not¢xpress an auditopinion on whetherthe accounts Pr￿ll[a aftd fair view.
INDEPENDENT EXAMINER'S STATEMENr
Itt ¢onn¢¢tion with my examination, no matt¢r h&$ Come to my attention=
(l) which gives me reasonable ca￿se to believe that in any material respect the trustees have not met the
requÉretnents to ensure thaL'
proper accounting T￿OrdS are k￿ (in accordance with section 386 of the Companies Act 2006).
accounts are prepared ivhich agree with the accounting records, comply with the a¢￿unting
requirements of Section 396 of the Companies Act 2006 and with the methods and principles of
the Statement of Recommended Practice: Accounting and Reporting by Charities; or
(2) to whiclL in my opinioo attention sh(yuld be drawn in order to enable a proper understanding of the
accolmts to be reached.
Thomas
iiigton.Brookfield
FCCA
23 Peaeefiel(L Marple. SK6 7

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVETIES
YEAR ENDED 31 DECEMBER 2020
Total Funds Total Funds
2020
2019
INCOMING RESOURCES
Income from charitable acti1ryt￿s.
Donation5 & Fund raising
Courses and Retreats
Shop
World Peace Cafe
Accommodation
Int¢rest Income
33?17
85,750
13.406
29,601
128,122
26
10.181
160.304
35J61
49.628
157,157
193
TOTAL INCOMING RESOURCES
290222
412,824
RESOURCES EXPENDED
pettditure on Charitable adiirybes=
Costs of Fund raising
Courses and Retreats
Shop
World Peace Cafe
Accommodation
Donation
(1.231)
(39ffi37)
(55,109)
(21215)
(22210)
(13588)
(19,866)
(232532) (270.224)
TOTAL RESOURCES EXPEI4DED
(306972) (368,640)
(lQ750)
44.184
NET INCOMING RESOURCES FOR THE YEAR
RECONCtLIATION OF FUNDS
Total funds bmught fonvard
TOTAL FUNDS CARRIED FORWARD
597ffj96
553,512
597.696
580.946
The Statement of Financial Activiti￿ includes all gains and losses in the )'eor and therefore
a ststem¢nt of total recognised gains 2nd losses not been prerAre
All of the above amounts relate to wntinuing activities.

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 DECEMBER 2020
2020
2019
tNCOME
TOTAL EXPENDTfuRE
290,196
412.631
(282,733) (356,177)
56,454
OPERATING SURPLUS
OTHER INCOME
tnterest receivable and similar income
193
56,647
INfEREST PAYABLE
Inter¢st payable: Bank loans
(24239)
(12,463)
SURPLUSI(DEFtClT) FOR THE FINANCIAL YEAR
(16,750)
44,184
RETAINED SURPLUSIIDEFICIT) FOR YEAR
(16,750)
44.184
The Income and Expenditur¢ Account includes all gains and losses tn the year and therefore
a statement of total recognised gains and losses has not been prepared.
All of the above amounts relats to continuing activities.

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 DECEMBER 2020
2020
2019
F￿ED ASSETS
Tangible assets
11
550ffj47
555.674
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
12
13
IOJ45
9)7,073
81,953
23.250
904,812
138,379
999J71
1,066.441
CREDITORS: Amounts falling due iyithin One
year
14
(53.086)
(65.762)
ET CURRENT ASSETS
946285 1000,679
TOTAL ASSETS LESS CURRENT LIABtLTtIES
IA96932
,556,353
CREDrroRS: AJDounts falliDg due after more
than oDe year
15
(915986) (958,65D
597,696
NET ASSETS
Restricted income ￿ndS
Unrestrictd income funds
16
17
11951
11.951
585,745
597.696
TOTAL FUNDS
580.946
-10-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
BALANCE SHEEr
31 DECEMBER 2020
The trustees 2re satisfied that the eh2rity" is entitled to exemption from the provisions of the Companies
Act 2006 (the Act) relating to the audit of the fuwi¢ial stat¢mellts for the year by virtue of section 477,
and that no member or members have requested an audit pursuant to section 476 of the ACL
The ttl￿eeS acknowledge their resp)nsibilities for.
(i) ensuring that the charity keeps adquate accounting records which Comply with section 386 of the
Ac¢ and
(li) preparing financial ststements Thhich give a trne ODd fair view of the state of affairs of th¢ charity
as at the end of the financial year and of its surplus or d¢fTCit for the financial yw in a¢cord8n¢x
with the requirements of se¢tion 393, and which otherwis¢ wmplj with th¢ requirements of the
Act relating to financial statements, so far as applicable to the charity.
These financial statements were approved by the members of the committee on the 26 August 2021
and Sre signed on their behalf by:
G Jameson
Director
Company Registration Nurnt￿. 1482154
The n¢Aes on page5 12 to 19 fomi partof these financial st*emeftts.
11

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
AccoiJNfiNG POLICIES
Basis of accollnting
The fmancial statements have been prepara underthe historical eosteonTrEntion and in aecordance
with applicable United Kingdom accounting standard& the Statement of Recommended Practice
'Accounting and Reporting by Clwities. issued iti March 2005 (SORP 2005) and the Companies
Act 2006, and in accordancc with the Financial Reporting Standard for Smaller Enttties (effective
April 2008)
Donatio
Donations ar¢ r¢wgnis¢41 in th¢ accounts when it is knovm that they will be receiv&L Donatsj
assets for use by the charity are included at value wher¢ this be quantified and a third party 1$
bearing the cost. The value of s¢rvices provided by volunteers is not quantifled and is n¢X included
in the accounts. Gifts donatyj for resale are included as income when the). are sold.
Grants
Grants are re£ognised in the accoullts when tt is known that they will be received.
Clwitable trading
The Charity ¢harges for providtng wurses and accornmodation for students to attend teachings,
study, practice and observe the moral discipline of Buddhism as w'ell &s providing amenities at the
Centre such as the World Pea¢¢ Cafe and shop. All ofthese are directly &qwciated with the objects
of the charlty and are therefore treated as charitable trading.
Interest receivable
Interest on montes invested is accounted for as it is earned.
Fund accounting
Restricted fimds are funds that have been donated or rdised for a specific purpose imposed by the
donor or by the way in which the fvnds have been raised. These fun(Ls llkust be expended in
a¢¢ordance with the restriction when raised and each fund is accounted for separately to ensure
this happens. Unrestricted fi]nds are funds donated or raised with no specific restriction and are to
be used at the discretion of the trustees. Lksignated funds are fimds set &8ide by the trnstees from
the unrestricted generdl funds for specific pUr￿)SeS and the amount to set aside 15 decided upon ty
th¢ Trustees as th¢ need arises de￿￿Ing upM)n ￿ financial activities of the Charity.
-12-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEIIIENTS
YEAR ENDED 31 DECEMBER 2020
ACCOUNfiNG POIJCIES {eothwé
Resources expended
In 2019 all income and Wenditu￿ has been accounted for net of VAT Vihere applicable.
Costs ar¢ allocated to the type of ill¢ome to which they re]ate and are apportloned on a Twonabl¢
basis if required depending on the type of expense. Liabilitie5 are recognised as tly are incutTed.
All fixed assets are initialty recorded at cosL
Depreeiation
Depreciation is calculated so &$ to write off the cost of an asseL less its estimated residual value,
over the useful economic life of that asset &$ follows:
Propety Improvements
-5Yo pa straight line
Stock8
Stocks are valued at the lower of ￿$t and net realisable value. after making due allowance for
obsolete and slow moving items.
Donations & Fulldrntsillg Illcome
Unrestricted Total Funds TotaI Funds
Fund
2020
2019
General donations
Fundrdising Events & Grants
6J17
6J17
4,538
33J17
33J17
10.181
Accommodation ID¢ome
Unro¥trleted Total Funds Totsl Funds
Funds
2020
2019
Bed & Breakfast Incom¢
Residents & other rent
358
127.764
358
127,764
42.563
114,594
12&122
12&122
l57.157
-13-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
Interest Income
UnrestrACted Total Funds Total Funds
Fun(L4
2020
2019
Bank interest receivable
26
26
193
Courses & Retreats w)sts
UDrestricted Totsl Fund5 Total Funds
Fr￿dS
2020
2019
Venue, tsavel and i)ther event costs
Publicity
Sponsorship costs
2&427
2.154
2&427
2.154
39.641
7,447
8,021
55.109
39ffi37
39.637
Accommodation eo8ts
Unr4stricted Total Funds Total Funds
Funds
2020
2019
Meditation Room
Insurance
Utilities
Kitchen
Laundry
Transp)rt
Other household eosts
O￿l¢C and Admin costs
Health and Safety
Sponsorship costs
Mortgage Itrterest
Bed and Breakfast costs
9,100
14.128
55.372
50,443
4.506
5,214
5,717
41.009
4,405
28,068
12.463
2,250
13,494
59,074
34,472
13,494
59074
34,472
4280
7,708
3512
7,708
3512
41AOO
24239
266
41,400
24239
266
Other a¢¢ommodation Costs
Repairs & Renovation costs
Depreciation of Propety hnprovements
10,718
17J28
5.027
10,718
17J28
5,027
23.064
9.458
5.027
232532
232532
270.224
Donation
Unrestricted Total Fllnds Totsl Funds
Funds
2020
2019
Loan converted to donation
-14-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FENANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
-15-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
STAFF COSTS AND EMOLUMENrs
Totsl stgff Costs were gs follows:
2020
2019
Waoes and salaries
Social security costs
50A56
40,785
50A56
40,785
Particulars of employttq:
The average of employees during theyear, calculated on the b&sis of full-time equivalents,
was &s follo
2020
2019
Number of stsff
No employee received remunerntion of mor¢ Ilwi £60,000 during the year (2020-Nil).
TRUSTEES, REMUNERATION
The tn￿CeS did not re￿]ve any remuneralion or out of p(Kket extens¢s during the year.
-16-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
11. TANGIBLE FIXED ASSETS
proptrty
Freehold Improvemen Futures &
. property
Fittings
Motor
Vehiel&8
Totsl
COST
At l January 2020
Additiotts
At 31 December 2020
592,691 428246
45936
1,(166073
DEPRECIATION
At l January 2020
DepreeiatEOD in year
At 31 December 2020
231225
234,038
5,027
25 239 065
45.936
511,199
5,027
516
231
NET BOOK VALUE
At 31 December 2019
361866
19420S
555.674
At 31 December 2020
361,466
189,181
550,647
12. STOCKS
2020
2019
Stock
IOJ45
23,250
13. DEBTORS
2020
2019
890,000
7.040
Pre-payments
Trade debto
907,073
904,812
14. CREDITOIiS: Amounts falling due within one yeAr
2020
2019
Bank l(w]s and overdrafts
Trade credito
VAT due at year end
Other creditors
Accrnals
41?94
5,732
549
5,411
38.555
11.570
2.785
12.852
53,086
65,762
-17-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
I& CREDITORS: Amounts fallillg dlle within one year
The following liabilities disclosed under ¢reditors falling due within one year are secured by the
Charity:
2020
2019
Bank loans and overdrafts
41?94
38,055
15. cRED￿oRS. Amounts faltng due after more than one year
2020
2019
Bank loans and ov¢rdTafts
915986
958,657
The following liabilities di%lo%d under creditors falling due after mor¢ than one year are secured
by the charity:
2020
2019
Bank loans and overdrafts
915986
958.167
16. RESTRicfKD INCOME FUNDS
Balattee at l Jan 2020
and at 31 Dec 2020
Walled Garden
New Buildtng Fund
7J83
11,951
There have been no movemeots on restrided ftmds during the ended 31 December 2020.
The Walled Garden Fund is a fimd to finance the construction of the walled garden at the
Madhyamaka Centre which was completed several years ago. The New Building Fund is a fund to
fi[￿ICe the construction of new buildings at Madhyamaka KMC.
-18-

MADHYAMAKA KADAMPA MEDITATION CENTRE
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangibk Net current IA>ng tèm
assets liabilities
Totsl
Restricted Ineome Funds:
Walled Garden
New BuildÈng Fund
7J83
7J83
11951
11951
Unrestrieted Income Funds
53&696
946235
(915,986)
(915,986)
568.995
Total Funds
550,647 946285
580,946
18. COMPANY LIMTfED BY GUARANTEE
The Company is limited by guaranteetherefore inthe event of windingup each memberguarantees
to pay up to £1 to help pay any outstanding liabilities of the Company.
-19-