REGISTERED COMPANY NUMBER: 01482154 {England and Walejl REGlSfERED CHARifY NUMBER: 509746 MILLER REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMEpffs FOR THE YEAR ENDED 31 DECEMBER 2023 FOR MADHYAMAKA KADAMPA MEDITATKIN CENTRE LTO
MADHYAMAKA KADAMPA MEDrfATION CENTRE LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pag• Refff8nce and AdMlThl8trat1 Dots11s Report ofthè Trustees 2 to 3 IndendOnt Examln8rf$ R•pwt Statem1 of Flnanclal Actlvltles Balan Sheet Notss to th* FIncIal Slatsments 8 10 13
MADHYAMAKA KADAMPA MEDrrATKIN CENTRE LTD REFERENCE AND ADMINISTRAThIE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES G S Jane50n {resIgnj 161&23) J J Andrews (gned 711212023) R Br(Mn (apinted 161512023} T Othver-wdsh lappcinted 71121223) COMPANY SECREfARY L M D1n8 REGISTERED OFFICE Klmbi¢* Pwcy Ha P(111( Y(¥k Y042 1UF REGISTERED COMPANY NUMBER 01482154 (Engla1 arml We$l REGISTERED CHARITY NUMBER XB746
MADHYAMAKA KADAMPA MEDrrATION CENTrE LTD {REGISTEReD NUMBER: 014821541 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees vtho aTr 8180 directorn ol the thartty foy wrposes ol the Ccynpanles Ad 2CKffj. Frfesent thelk rewrt vhth the finanual slatemenis of the charity for the year ended 31 Decemter 2023. The trustees have a(lopt&Y the w0viOn$ ol ACcnrj and ReFuting by Charitles: Staiement of Renmended Pradic applicalle to charibes preparing thr accounts Sn accordance wth the Finanrjal RertIng Slandar(l apF4lcable in the UK and Republic fA Ireland IFRS 1021 leffethe 1 January 20191. OBJECTIVES AND ACTivmES Objectlves and actlvltles The object ol the charity Is to prcThote thg BAINst falth, 5xin¢ardty thrcugh the teachlry stuty. wactice and thè cseNance of moral disuFlne 4th Buddlist cl Je TsoThJkhapa through the three New Kadampa Tra(lition Educatlonal Programme The charfty aims lo provKle trarrfjullty lo enable udents lo pradce and obseNe the moral rfIsaF4ines as sel out Sn the otyects. This has been achieved so far by establishing the Madhyamaka Centre and teachiThJ mltiOn lo Buddhlsts aTrJ noBUddhist$ to enable th to matntsin peaceful stsles d rnind. A Spiritual education is provided to help people improve quality crf I1r Iwes arNJ rdabonstrwps Vith others. ACHIEVEMEKf AND PERFORMANCE Ach5evemnt5 and P•rfomiance Madhyamaka KMC conbnued lo pThide a mfjde range of public se1 to the surrouTraing area aTrJ further afidd during 2023. Madhyamaka KMC dasses and &XSeS. (xjntinued to be popular and infxe8J in numbers (Ner the year. We introdlsced more Mwkend meditatsc courses. and mid Eek merfrtatit breaks to own the centre up more to the publio The medrtation dasses in lcd txn11nd to be rrtl. The Worfd Peace Cafe 8nd Wc4ds Retreat Bed and Bakfast ¢)?ntinLd to expand. ¢Jevelop and increase in Fwularity. and the grounds were frequented by many visrtors as a relaxing ptaf of rest and refie(on. We receweil a grydnl for r¥ path vkni¢h was laid eady 2023. the result of vhith was many rrKye peOe n9 able to enjoy the gr0d$ and lake, indudiThJ those Vith disabilities aThl p¥ams. Madhyamaka also Intinued lo be powlar ¥%ith other K&Jampa Buddhist Centres ¥tho visit on ker tetreats. The centre in York dosed al the end of 20ZJ as wrtre never reJty Frfcked Lbp after l¢xk duMI. we are now holdirvJ VklY dasses in the Quaker meeting house in YcKk vthich are gc4ThJ mell. The centre continued to te refianl (N) VL4unteers fm the ider c(ffimunty Icc4 wh) are regularty invdved in areas of centre wch as the Gtft Shop. Wortd Pe Cafe gaT(Jen& FINANCIAL REVIEW Fundlng sources Prinapally funds are received runnlng I>eS and wld1r@ 8ccunmcxlaiion at the centre. dtIOnS receivable, Lyraling the gfft shop. B&B and Worfd Peace Cale and wnning c(xJw at branthes Ijether vAth other fundrdi5ing even STRUCTUR£ GOVERNANCE AND MANAGEMEKr Govemlng document The charity is St1¢uted as a cfjmpany limited by swarantee ur*Jer the CLynpanies ALt aNJ ts a registered tharity govemed ty the mwnoranthjm and thdes cl asxoatKm vith dl the di rf the ttffipany 1r4 trustees of the charity. Recrultm•nt and appolnlmwt of new trust•e$ Trustees are recruited frryn s5ithin the charity or frcrfn other smliar thaiibes 50 that tw have a kr•JvAedge and understanding of the tharitys aims and thngs. Eath new trustee is guided by the ojrrenl Irustaes and other members of the organisaiion. The trustees are al encournged lo leam frcrfn arml keep up lo date wlh the charitys bsile and that (rfthe New Kadampa TTaditson- InteTh¥bon81 Kthpa BLbthlhisl Unl. Organlsatlonal stwcture The trustees are also the directors of the ecfflpany and are elted al the AGM. The trustees have app)inted the company secretary to carry (xrt the daY4daY njnnlng of the centre. Page 2
MADHYAMAKA KADAMPA MEDrrATION CEKfRE LTD (REGISTERED NUMBER: 014821541 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Relat Charltlos The charity is a member orf the NKT4KBU vthlch is n organlsaticn mt•Je up rf many (ntres the TKId th the same objects. sharing the same 4iritud lineage as 7Aell as the $8me edU¢2t1aI prOJnme5. TW are all Independent carities link by thr otyeds and the 15 financia deperKkw altFwh funds may pass beM*n centres to fu1 awns aTrJ otiective5. by order cl trustee5 cffl 6 Awst 2024 aThJ on its beham by: GPugh-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MADHYAMAKA KADAMPA MEDITATION CENTRE LTD Indend•t •x•mln•fs r•port to th• truitem of M•JhyanMka Kadampa M•dltatlon C•ntr• Ltd {Ih• Compan I reFth lo the trustees my axanlnaucn Lrf the 8ClXYJrts cl fv Crynparry fix the year ended 31 December 2023. Respon$lbllllles and basls 01 rnport As the chaws tnjslees of the Cclnpany land al11$ direth for th8 purrM)5e$ of crAnp8ny18wI yw are re5FSbt9 for the preparallon d the •¢c(ymts In actrth(¥ llh the r8qulrements trf the C(xnpanles Act 20c6 fthe 2(K)6 Ad). Hing sati1¢d MY that thè a¢(Unts d the CL)npary ore rM)t ra]ulred to b8 audited under Part 16 of the 21Th Ad and are ellble for independent examln8tion. I wrt In res of my ex8mlnation cl your cariVs accyMnls as arfe(l OLrt under Seclion 145 of the Charilies Act 2011 Ilho 2011 ALI. In ¢atvj (Art my eXInatIon I have fc4lowed the tMredon5 gfven by the Charity C(xnmls8lon Lmder SectIc 145(51 Ib) rA the 2011 A Ind•pendent examln•V8 Statement Since yr thartty's gross irwme exc¢eded £250.LKJO yr e¥niner mu# be a mnbfrr of a fisted body. I can firn that l am qualffied to undertake the examln8tion bKause l a rnemter cl ts Atati of Chartèr&Y Certified Ai)>JJrbtsnts. vknlch is cffle cl lied br#Jes. I have oxnF4eted my eXinati(. I ffirm that M matys have to my attenti in c(fflngdkn vAth the examination gwing me cause to telieve: acuntirNj re(xJrds re not kept in respect cl ts CcThpany 89 required by Wion 386 d the 2006 Art. the acctyjnts do not aCd with those recorfs: c accounts do not cx)mF4y Vth the accounting requwements crf sec11 396 of the 26 Act other than any requirement that the 8ccounts gNe 8 tFue and far view vthith is a matter C£ider& as part of an independenl examination: or th8 accourrts have rb)t been prepared in ac#rdanCe Vith m8thcts and priThiples of the Statement of RecommeTrJed Pracce for antiTrJ and reFotiro by charities {applicable to charibes pparing their accounts in acc4xdance xfjth the Finarthl Reting Standard apFli¢able in the UK and Republic of IrelaTr IFRS 102}). I have no ncernS and have ccffie atross no matters in nnecti0ft ith the examination lo %thlc attention should be drawn in this reFQrt in order lo enable a underanding of the nts to be reached. Anita Br(M)k FCCA The ASat10ft crf Chartered Certified knnIsnts 6 August 2024 p&4
MADHYAMAKA KADAMPA MEDrrATION CENTRE LTD STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Totsl lunds Unrnstrlthd Rtstrlthd fund funds INCOME AND ENOOWMENTS FROM Dcfflations and18gaa&s Charftable •ctlvlll•s Charitsble 8cINities Not•s 79.456 79,4 24.274 281.311 281.311 266.284 Oiher trading a(INffjies Inveslment inccyne 136.664 17 136.864 17 126.443 10 Tolal 497.448 417.011 EXPENDITURE ON Raising funds •iarltable actlvltl•s Charilable activfflies 91,826 91.826 78.022 378.757 378.757 Total 470.583 470.583 413.088 NET INCOME 3.923 RECONCILIATION OF FUNDS Totsl funds brought fonvard 616.557 11,951 628.508 624.585 TOTAL FUNDS CARRIED FORWARD 643.422 11.951 655,373 628.508 The nS fcTh part rAtlwe finan(ial 4alwnts P•3e S
MADHYAMAKA KADAMPA MEDrrATION CENTRE LTD (REGISTERED NUMBER: 01482154) BALANCE SHEET 31 DECEMBER 2023 2023 Total funds 2022 Total funds fund funds FIXED ASSErs Tangle assets 528.642 11.951 540.593 540.593 CURRENT ASSETS Siccks Debtors Cash al bank and in harbj 9,797 899.852 9,797 899,852 93.405 15.403 905.407 1,CQ3,054 1.W3.054 981.748 CREDITORS Amounts fatliro thJe lhithin one year 10 170,669} (70.669) 147.6951 NEf CURRENT ASSErs 932.385 934,053 TOTAL ASSETS LESS CURREMr LIABILMES 1,461.027 11.951 1.472.978 1,474.646 CREDtroRS Amounts fdllThJ due after more than one y 11 1817.6051 1817.f5l (846.1381 NEf ASSErs 643.422 655.373 628.508 FUNDS Unrestricaed funds Restricted fund5 13 643,422 11.951 616.557 11.951 TOTAL FUNDS 655.373 The tharitable ccmnpany is entived to exwnpti fmm ajjit LWKler Se(on 477 cl the clp8e$ Act 20C6 for the year ended 31 December 2023. The members have not required the fmparw to obtain an aJIt crf rb finarKid statements for the ytsr ended 31 Dernber 2023 in xcordance ith sli0ft 476 cl the CnPanieS Acl 2th. The trustees ackno8ge their re5ponsblleS f lal ensuring that the charitst4e crxnpany keep8 xjnIij rectrds that contty V•ith Seaions 386 and 387 of Ccrfnpanies A(120C6 and preparing ffinanci stalemefts Ythich give a true and fair vi8w rf the stsle of affairs of the ¢harit8ble c(¥npany as al the end of each finarrial year and d its SuuS or defiol for each finanoal year in accordance wth I requirements of Sedions 394 aThJ 395 and lch otheThMse ¢)Jnply %silh the requirements of the CpanIeS Acl 2¢XO rdating to financ4al statements. g) far as aPF4ib1e to the charitatde npany. Ibl Xes p8rt dthese finanrial al•nlS Pagè 6 (mtimed...
MADHYAMAKA KADAMPA MEDrtATION cElRE LTD (REGISTERED NUMBER: 014821541 BALANCE sHE- ntInUed 31 DECEMBER 2023 These flnancaal stslements ten prepwed in a%lance vAlh the privisions aFf4icabJe lo charilable 0PaThe$ gJ"e¢l to the Small cc¥npanies regime. Thè financial statemerrts aFproved by the Board of Truths aThJ aulhori5ed fcff IS 6 August 2024 and vRre signed on its behalf by. G Pugh- Trustee The ncrtes fcrfm part (rf finarjaI StateMts Page 7
MADHYAMAKA KADAMPA MEDrrATION CEPrniE LTD NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The finaniial slalemenls of ihe chatable fxynpany. vhith Is a public tnefrt entity undef FRS 102. have bn propared in aczordance 1th the Charilies SORP IFRS 1021'knountirKJ aThJ Rewjrbng by Charities.. s1er$I ol Reccmnmended PrafAice awlcatle lo charltles preparing Ihwr accounts in ecoJrdan¢e TrAth the Financial Reporting Standard applicable in Ihe UK and RepLsblic of Ireland IFRS 1021 (effective l January 20191., Flnanoal RerM)rting &andanJ 102 The Financial RepKJrting Stsndard applicable in the UK and R&public of Ireland. and the cpanIeS Act 2(. finandal Wements hove Deen wepared uThJer thè histcffical CpJsI ojnvention. DONATIONS AND GRANTS Donations are recognised in the ottounts vthen it Is knovm that Ihw vall be received. Oonated assets for by the charity are iThJuded at value vthere thls can quanlffigd 8nd a third party is tearirKJ the fxist. The value of servSces prcwided by vdunleers Is nol quant1fi8d aThJ is not indudad in thè aco)unts. Gifts donated f(K resale are Induded as inccfne tothen they we sdd. Grants are recognis0(I In the acccwnts kn it is that they ill receNed. EXPENDITURE Liabilitses are recognlsed 8$ expenditure as xJn as there is a legal or constructive obligati(M) ¢cffjmitiing t charity to that expendllure. it Ss probable that a trartsfer of eIDmi¢ benefrts 11 be T1red in s¢tUement and the amount of the obligauon can be measured reliatly. Expenditure is a¢cA)unted lor t)n an acfxuals ba$ and has toen dassified under headiThJs that aggregate all cost related to the category. whe StS cannot te dlreclly 8ttribLbted to parfcular he&JirwJs they have trwi allctated to activityes on a basis con&stenl wth the use CHARITABLE TRADING The charity Charges for provithng C£MJfses accommtJation for aLthnls to atlend tea¢hirrfJs. sludy. practice and observe the moral disoFline of Buddhism as 11 as providing aner4ties at the centre such as the Worfd Peace Cafe and shop. AJI of these are thredy associated with the ('ects of the charity and are Ihereft trealed as charitsble tra(ling. TANGIBLE FIXED ASSErs Deprectation Is provided al the fc41th1iThJ annual rates in (¥der io lIe clf eath asset ryer its estimated useful lrfe. STOCKS Stocks are valued at ts l( of cost and net realisat4e value. after making duè allowarth for obsolete ow moving item5. TAXATION The charity is exempt frcffl C£VFX)ration tsx its cknarilabie activllles. FUND ACCOUNTING Restricted funds are funds thal have been thnated ( raised a 5peofic purpose imposed by the donor or by the Vfdy in vthich the funds have been rased. These funds musl te expended in ac£thanc£ wth the restrfcllc en raised and each fund is accounted f(K separately to ensure this happens. Unrestrithd funds are funds (thated ¢y raised ith no sFdfK rerkion are lo be used al the dlscrellon of the trustees. Degnated funds are funds sel asde by the trustees frcffi Ihe unrestricled general funds for sperific purp)ses and the amount lo set ade is dlded by the In005 85 Ihg need arises dependlng upon the finandal activitses of the charity. Page 8 c¥>ntinued...
MADHYAMAKA KADAMPA MEDITATION CEKfRE LTD NOTES TO THE FINANCIAL STATEMENTS- contlnu•d FOR THE YEAR ENDED 31 DECEMBER 2023 OTHER TRADING ACTIVMES 2023 2022 Shop incL¥ne Cafe Inccffie 36,395 100.269 33,491 92,952 136.664 126,443 INVESTMENT INCOME 2023 2022 Dep)sll acLrdJnl Intergst 17 10 NEf INCOMEI{EXPENDITUREI Nel incxfnellexpeThJilurel is ated after Charg{cdn9 2023 2022 Depreoation- aed assets 5,027 TRUSTEES. REMUNERATION AND 8ENEFtrs There Ere no trustees, remuneralion or other benefrts Ihe year ended 31 D8cmber 2023 fcf the year ended 31 December 2022. TRUSTEES. EXPENSES There were no trusteeg expertsts pad year ended 31 December2023 fcr the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMllES Unrgstrtcted Re5tr1thd fund funds Total funds INCOME AND ENDOWMEKfs FROM Donations and legaues 24.274 24.274 Charltable actlvlttes Charitable activibes 266284 266,284 Other trading adNitses Investrnenl inccffje 126,443 10 126.443 10 Total 417.011 417,011 EXPENDuRE ON Raislng lunds 78.IY22 78.022 Charitable advltlg$ Charitsble aclivities Total 413.088 413.088 P8ge 9 o)ntirwJed...
MADHYAMAKA KADAMPA MEoifATJON CEiifRE LTD NOTES TO THE FINANCIAL STATEMEpifs - nIInUed FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES - ¢ontlnu Unrestrlcted Restrfctgd lund fiinds Total lund$ NET INCOME 3.9fJ RECONCILIATION OF FUNDS Total funds brcdjghl fornyard 612.634 11,951 624,585 TOTAL FUNDS CARRIED FORWARO 616,557 628.508 TANGIBLE FIXED ASSETS Flxturos Fmhold Prop•rty and property Improv•ments ffttlngs Totals COST Al 1 January 2023 and 31 Dernber 2023 DEPRECIATION Al 1 January 2023 and 31 Dec*mber20TJ NEf BOOK VALUE At 31 De¢ber 2023 45,936 231.225 249.119 45,936 361.466 179.127 540,593 Al 31 D&ember 2022 361.466 179,127 540.593 STOCKS 2023 2022 Stocks 9.797 DEBTORS: AMouKfs FALUNG DUE WITHIN ONE YEAR 2023 2022 Trade debtors Amcmjnts 0d by particapating inter Other debtors Prepayments 3.352 2,407 890.C(Q 5,407 P&3e 10 continued...
MADHYAMAKA KADAMPA MEDrrATION CEiifRE LTD NOTES TO THE FINANCIAL sTATEMEPs- conilnued FOR THE YEAR ENDEO 31 DECEMBER 2023 CREDITORS: AMOUNTS FALUNG OUE WITHIN ONE YEAR 10. 2023 2022 8ank loan5 and overdrafts (see NAe 121 Trade creditws Swal security 8fKI other tsxes Other ¢TrJilors Attrued expenses 31.2(rf) 8.253 2.526 4,466 1,250 11.427 3,776 24,216 1.29J 47.695 11. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2023 2022 Bank loans {see no¢e 121 817.605 846.138 LOANS An analws of the maturity cl I0S is gNen belw. 2023 2022 Arnounts falling due %%ithin ce year cffl dn81. Bank loans 30.oc 31.200 ¢Junls falinl belln one arKI im) year5: Bank108ns- 1-2 yea 30.000 31.200 Amounts falling due bets*en and fNe years: Bank loans- 2-5 years Arnounts fdng due in more Ihan fNe yea Repayable by ITthen" Bank loans more S by inslal 697.605 721,338 MOVEMENT IN FUNDS Not movement In funds At 111123 31112123 Unrestricted fvnds General fuThJ 616.&57 26,865 643.422 Rg$trlcted fvnds Waled Garden New Building Furbj 7.383 7.383 11.951 11.9S1 TOTAL FUNDS 628.S)8 655.373 Page 11 rKrfitinued...
MADHYAMAKA KADAMPA MEDITATION CEpifRE LTD NOTES TO THE FINANCIAL STATEMEKfs- nIInued FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMEKf IN FUNDS- ¢ontlnued Net rnement in funds, lTrUded In the abe a as fdlm: Incomlng Resources rèsources èxpended Movèmenl In fvnd$ Unrestrlcted fiJnds General fund 497.448 1470.5831 26.865 TOTAL FUNDS 497.448 26.865 Comparatlvos for movem•Tht In funds Nfjt movemgnt In funds At 111r22 31112122 unre9trfct lunds General fund 612.634 3.923 616.557 R•StrIct funds Wdled Garden New Building FL 7.383 4.568 11.951 11.951 TOTAL FUNDS 624,585 3.923 628.508 Comparative net mcvement in funds. irKJLthJ in the are asfcAIcvts." Incoming Resources exnded Movement In funds UnrestrEctgd funds General fun(J 417.011 1413.088) TOTAL FUNDS 417,011 3,923 P&Je 12 tinued...
MAOHYAMAKA KADAMPA MEDITATION CENTRE LTD NOTES TO THE HNANCIAL STATEMENfs - contlN•d FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMENT IN FUNO8- contlw•d A ojrrenl yw 12 rnonlh8 8r¥J yeer 12 m¢xth8 comt4nthJ Is 89 Idl(Mry'. N•1 mov•m8nt In lunds Al 111122 31112r23 Unrstrlctsd fund• General lund 612,634 30.788 643.422 Rclod funds Waled Garden New Building FuThJ 11.951 11.951 TOTAL FUNDS 624.585 30.788 655.373 A current year 12 m$ arKI wior year 12 mcth ntsned net In fuThts. irAud&a in the aLe are as fc41 In¢omlng resour¢es Resources expended Movement in funds Unre$lrlcted fijnds General fund 914,459 1883.671) 30,788 TOTAL FUNDS 914,459 30.788 14. RELATED PARTY DISCLOSURES There Mere no relatejj party transac11$ for the year end&J 31 Decemter 2023. Pwje 13