Tara International Kadampa Retreat Centre Ltd
Charity No. 0517949
Company No. 02048471
Trustees’ Report and Unaudited Accounts
31 December 2024
Tara International Kadampa Retreat Centre Ltd Contents
| Pages | |
|---|---|
| Trustees’ Annual Report | 2to5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Summary Income and Expenditure Account | 8 |
| Balance Sheet | 9 |
| Statement ofCash flows | 10 |
| Notes to the Accounts | 11 to 17 |
| DetailedStatementofFinancialActivities | 18to19 |
Tara International Kadampa Retreat Centre Ltd
Trustees’ Annual Report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 02048471
Charity No. 0517949
Registered Office
Ashe Hall
Ash Lane
Etwall
Derbyshire
DE65 6HT
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Dr.L. Coward (Appointed 17 August 2024)
L.A. Halliday
N. Merrin (Resigned 17 August 2024) M.E. Wirth H.C. Wright
Company Secretary
S.G. Healey
Key Management Personnel
Deputy Spiritual Director
General Spiritual Director
Gen-La Kelsang Jampa (Henry Shevland) Gen-La Kelsang Dekyong (Heather Wright)
Accountants
Panton & Co Accountants Ltd
19 Eastgate Business Centre
Eastern Avenue
Burton-upon-Trent Staffordshire
DE13 OAT
Page 2
Tara International Kadampa Retreat Centre Ltd Trustees’ Annual Report
OBJECTIVES AND ACTIVITIES
The charity aims to provide a tranquil environment to enable students to study, practice and observe the moral discipline set out in the objects. This has been achieved so far by establishing Tara International Kadampa Retreat Centre (‘Tara IKRC’) at Ashe Hall in Derbyshire, offering meditation classes to Buddhists and non-Buddhists alike, to enable them to develop and maintain peaceful states of mind. Through the three New Kadampa Tradition Study Programmes, a spiritual education is provided to help people improve the quality of their lives and relationships with others. The spiritual programme offered at Tara IKRC offers a variety of courses, which are accessible for everyone. The courses and programmes available are explained below.
General programme classes
These include weekly meditation classes, as well as regular weekend courses and retreats which are ideal for beginners; introducing basic Buddhist view and meditation, or simply helping people to increase positive thinking in order to improve the quality of their lives and their relationships with others. These classes are offered throughout the Midlands providing access to as many people as possible. Foundation programme classes
These weekly study classes enable students to deepen their knowledge and faith in Buddhism, and to increase their peaceful states of mind.
Teacher training programme
These weekly study classes both enable students to deepen their knowledge, understanding and faith in Buddhism, and to train as qualified New Kadampa Tradition Teachers; thereby allowing them to share their knowledge and experience with others.
Retreats
Tara IKRC also offers individual and group retreats which provide an opportunity for people to develop their meditation experience in relaxing surroundings and thereby bring deeper levels of peace of mind. Day courses and weekend courses
These are held regularly throughout the year for both beginners and more advanced practitioners. These classes teach people how to bring beneficial practices of Buddhism into their daily lives, helping them to solve problems and to develop real inner peace and happiness.
Chanted prayers
These are held daily at Tara IKRC which are available for everyone to attend free of charge. Through the recitation of these prayers and the contemplation of their meaning, it is possible to transform the mind to a positive state and experience inner calm.
Volunteers
Each year, we welcome visitors from around the world who wish to spend time living and volunteering in the Centre in return for free accommodation, meals and attendance at courses. Volunteer visits are a great way to experience the peaceful way of life in a Buddhist community, and to learn the benefits of meditation. The charity has many volunteers who come from other countries through a volunteer organisation, from the local community and from within the residential community. Volunteers are essential for the running of the charity and are involved in all aspects of the charity's activities from helping in the World Peace Café to cleaning and administration.
Page 3
Tara International Kadampa Retreat Centre Ltd
Trustees’ Annual Report
School visits
We regularly host school visits for children of all ages, offering invaluable practical experience to enrich their classroom studies. The children learn about Buddhist teachings, discover what it means to be a modern day Buddhist living in a Buddhist community, and have the opportunity to try simple meditations.
World Peace Café
This beautiful café is open 7 days a week from 2024. It offers a peaceful haven for visitors to relax and find peace of mind.
ACHIEVEMENTS AND PERFORMANCE
For Tara IKRC’s educational activities, we continued to increase the number of courses available. As a result, our various day courses weekend courses, retreats (including accommodation) and Class Pass payments the centre took in £198,077 which is an increase of 36% on 2023.
Tara IKRC’s branch meditation classes increased, with a new site in Belper, in order to spread Buddhist teachings to as many people as possible. Branch income in the year was up 44% to £19,796.
Donations income was up 70% to £50,734. We did not make requests for new meditation hall donations but many felt compelled to make offerings towards the hall’s interior fittings.
4 families and 21 single people were resident at Tara IKRC in the year, all living, studying and practising with the spiritual tradition of the NKT-IKBU. The yearly rental income increased slightly to £145,190.
The World Peace Café took £120,330, up from £66,772 in the prior year, increased volunteers allowed us to open the café seven days a week. The shop income was also up 13% to £50,143.
Progress has made in designing the new meditation hall. Planning has been accepted and funding progresses. It is intended to complete the build in Autumn 2025 in time for the UK Dharma Celebration.
FINANCIAL REVIEW
Funding sources
Principally funds are received through offering courses and providing accommodation at the Centre, donations receivable, operating the shop and the World Peace Café at the Centre, and offering courses throughout the local area, together with other fundraising activities such as the Summer Fayre.
Investment policy
The Trustees consider that minimal risk should be undertaken regarding investments and consequently have a policy to place funds on deposit only to earn interest.
Reserves policy
The trustees consider that a level of free reserves should be retained in liquid funds equivalent to cover up to six months overhead expenditure. These reserves are to be held in order to maintain the basic operations of the charity and to provide some security against adverse financial events, such as income targets not being achieved or unexpected expenditure.
Page 4
Tara International Kadampa Retreat Centre Ltd Trustees’ Annual Report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee under the Companies Act and is governed by its Memorandum and Articles of Association and is also a registered charity.
Recruitment and appointment of new trustees
Trustees are recruited from within the centre community or from other related charities so that they have knowledge and understanding of the charity's aims and activities before their appointment. Present and former trustees are also available to help any new trustees with their roles and responsibilities.
Organisational structure
The company is registered as a charity and established, organised and operated exclusively for religious purposes. The General Spiritual Director of the charity is duly elected General Spiritual Director of the New Kadampa Tradition — International Kadampa Buddhist Union (NKT- IKBU). There are four trustees who are Directors of the company. Two of the trustees duly elected as such by the members of the charity, and two who are ex-officio posts. The ex-officio posts are occupied by the General and Deputy Spiritual Directors of the charity, who again are elected, as such, by the members. The trustees make all the major decisions of the charity and delegate day to day management of the centre to the Administrative Director, Treasurer and other Centre Managers. The Administrative Director is also the Company Secretary however they are not a trustee or director of the charity.
Related parties
The Centre and all other Buddhist Centres of the IKBU are legally associated as members of the international Buddhist charity called ‘New Kadampa Tradition — International Kadampa Buddhist Union’ (‘the NKT-IKBU Charity’) incorporated in England with company number 2758093 and charity number 1015054.
Risk management
The trustees have assessed the major risks to which the charity is exposed which are primarily those relating to operations and finance, and are satisfied that systems are in place to mitigate exposure.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board:
L.A. Halliday Trustee
18 July 2025
Page 5
Tara International Kadampa Retreat Centre Ltd
Independent Examiner’s Report
Independent Examiner’s Report to the trustees of Tara International Kadampa Retreat Centre Ltd | report to the charity’s trustees on my examination of the financial statements of Tara International Kadampa Retreat Centre Ltd for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity’s financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the directions given by the Charity Commission under section 145(5)b of the 2011 Act.
Independent examiner’s statement
As the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | ama member of CIMA, which is one of the listed bodies.
| have completed my examination. | can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
® accounting records were not kept in accordance with section 386 of the 2006 Act; or
-
e the financial statements do not accord with those records; or
-
e the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
-
e the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
lain Panton FCMA ATT
Panton & Co Accountants Ltd
19 Eastgate Business Centre
Eastern Avenue
Burton-upon-Trent Staffordshire DE13 OAT
18 July 2025
Page 6
Tara International Kadampa Retreat Centre Ltd Statement of Financial Activities for the year ended 31 December 2024
==> picture [438 x 407] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Notes|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|2024|2024|2024|2023|
|£|£|£|£|
|Income|and|endowments|from:|
|Donations|and|legacies|4|12,772|37,961|50,733|29,771|
|Charitable|activities|5|369,061|-|369,061|341,601|
|Other|trading|activities|6|206,956|.|206,956|138,324|
|Investments|7|2,017|.|2,017|1,440|
|Other|-|-|-|-|
|Total|590,806|37,961|628,767|511,136|
|Expenditure|on:|
|Raising|funds|8|76,308|.|76,308|80,676|
|Charitable|activities|9|166,533|-|166,533|140,604|
|Other|10|257,982|-|257,982|286,743|
|Total|500,823|-|500,823|508,023|
|Net income/(expenditure)|11|89,983|37,961|127,944|3,113|
|Transfers|between|funds|-|-|.|-|
|Net|income/(expenditure)|89,983|37,961|127,944|3,113|
|before|other gains/(losses)|
|Other|gains|and|losses|-|-|-|
|Net movement|in funds|89,983|37,961|127,944|3,113|
|Reconciliation|of|funds:|
|Total|funds|brought forward|872,341|9,905|882,246|879,133|
|Total funds|carried|forward|962,324|47,866|1,010,190|882,246|
----- End of picture text -----
Page 7
Tara International Kadampa Retreat Centre Ltd
Summary Income and Expenditure Account for the year ended 31 December 2024
==> picture [437 x 219] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Income|626,750|509,696|
|Interest|and|investment|income|2,017|1,440|
|Gross|income|for the|year|628,767|511,136|
|Expenditure|459,079|462,621|
|Interest|payable|10,770|12,676|
|Depreciation|and|charges|for|30,974|32,726|
|impairment|of fixed|assets|
|Total|expenditure|for the year|500,823|508,023|
|Net|(expenditure)/income|before|tax|127,944|3,113|
|for the|year|
|Net (expenditure)/income|for the year|127,944|3,113|
----- End of picture text -----
Page 8
Tara International Kadampa Retreat Centre Ltd
Balance Sheet at 31 December 2024
| Company No. 02048471 | Notes | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible Assets | 13 | 916,386 | 926,988 |
| Current assets | |||
| Stock | 14 | 4,515 | 4,475 |
| Debtors | 15 | 64,072 | 71,379 |
| Cash at bank and in hand | 268,227 | 123,994 | |
| 336,814 | 199,848 | ||
| Creditors: amountfallingdue within one year | 16 | (243,010) | (244,590) |
| Netcurrent (liabilities)/assets | 93,804 | (44,742) | |
| Total assets less current liabilities | 1,010,190 | 882,246 | |
| Total net assets | 1,010,190 | 882,246 | |
| Thefunds ofthe charity | |||
| Restricted funds | |||
| Restricted income funds | 17 | 47,866 | 9,905 |
| Unrestricted funds | |||
| General funds | 17 | 962,324 | 872,341 |
| Totalfunds | 1,010,190 | 882,246 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 18 July 2025
And signed on its behalf by:
x4 eat: L. A. Halliday Trustee
18 July 2025
Page 9
Tara International Kadampa Retreat Centre Ltd Statement of Cash Flows for the year ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flowsfrom operating activities | ||
| Net income/(expenditure) perStatement of Financial Activities | 127,944 | 3,113 |
| Adjustment for: | ||
| Depreciation of property, plant and equipment | 30,974 | 32,726 |
| Dividends, interest and rentsfrom investments | (2,017) | (1,440) |
| Gain on disposal offixed assets | (2,563) | - |
| (Increase)/decrease in stocks | (40) | (1,692) |
| (Increase)/decrease in trade and other receivables | 7,307 | (10,962) |
| Increase/(decrease) in trade and other payables | 40,670 | 48,629 |
| Netcash provided by/(used in) operating activities | 202,275 | 70,374 |
| Cash flowsfrom investing activities | ||
| Payments for property, plant and equipment | (20,809) | (34,804) |
| Dividends, interest and rentsfrom investments | 2,017 | 1,440 |
| Proceeds from sale offixed assets | 3,000 | - |
| Net cash used in investing activities | (15,792) | (33,364) |
| Cash flowsfrom financing activities | ||
| Repayment ofborrowings | (42,250) | (40,336) |
| Netcash used in financing activities | (42,250) | (40,336) |
| Netincrease/(decrease) in cash andcash equivalents | 144,233 | (3,326) |
| Cash and cash equivalents atthe beginning oftheyear | 123,994 | 127,320 |
| Cash and cash equivalents attheend oftheyear | 268,227 | 123,994 |
| Components ofcash and cash equivalents | ||
| Cash and bank balances | 268,227 | 123,994 |
| 268,227 | 123,994 |
Page 10
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
| Fund accounting | |
|---|---|
| Unrestricted funds | These are available for use atthe discretion ofthe trustees in furtherance of |
| thegeneral objects ofthe charity. | |
| Designated funds | These are unrestricted funds earmarked bythe trustees for particular |
| purposes. | |
| Revaluation funds | These are unrestricted funds which include a revaluation reserve representing |
| the restatement ofinvestment assets at their market values. | |
| Restricted funds | These are available for use subjectto restrictions imposed bythe donor or |
| through terms ofan appeal. | |
| Income | |
| Recognition of | Income is included in the Statement of Financial Activities (SoFA) when the |
| income | charity becomes entitled to, and virtually certain to receive, theincome and |
| the amount ofthe income can be measured with sufficient reliability. | |
| Income with related | =Where income has related expendituretheincomeand related expenditure is |
| expenditure | reported gross in the SoFA. |
| Donations and | Voluntary income received byway ofgrants, donations and gifts is included in |
| legacies | the the SoFAwhen receivable and onlywhen the charity has unconditional |
| entitlement to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA atthe sametime as the |
| donations and gifts | _gift/donation towhich it relates. |
| Donated services | These are only included in income (with an equivalentamount in expenditure) |
| and facilities | where the benefit tothe charity is reasonably quantifiable, measurable and |
| material. | |
| Volunteer help | The value ofanyvolunteerhelp received is not included in theaccounts. |
| Investment income | This is included in the accountswhen receivable. |
| Gains/(losses) on | This includesanygain orloss resultingfrom revaluing instrumentsto market |
| revaluation offixed | — value attheend ofthe year. |
| assets | |
| Gains/(losses) on | This includesanygain orloss on the sale ofinvestments. |
| investmentassets |
Page 11
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the charity, including any audit/independent examination fees, costs linked to the strategic management of the charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold Property 2% Straight Line Plant & Machinery 33% Straight Line Motor Vehicles 25% Straight Line Fixtures, Fittings & Equipment 20% Straight Line
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 12
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense ona straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense, on a straight-line basis.
2 Company status The company is a private company limited by guarantee and consequently does not have share capital.
Page 13
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
| 3 | Statement of Financial Activities—prior | prioryear | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| 2023 | 2023 | 2023 | |||
| if | £ | £ | |||
| Income and endowments from: | |||||
| Donations and legacies | 28,158 | 1,613 | 29,771 | ||
| Charitable activities | 341,601 | - | 341,601 | ||
| Othertrading activities | 138,324 | - | 138,324 | ||
| Investments | 1,440 | - | 1,440 | ||
| Total | 509,523 | 1,613 | 511,136 | ||
| Expenditure on: | |||||
| Raisingfunds | 80,676 | - | 80,676 | ||
| Charitable activities | 140,604 | - | 140,604 | ||
| Other | 286,743 | - | 286,743 | ||
| Total | 508,023 | - | 508,023 | ||
| Net income | 1,500 | 1,613 | 3,113 | ||
| Net income before othergains/(losses) | 1,500 | 1,613 | 3,113 | ||
| Othergainsand losses: | - | - | - | ||
| Netmovement infunds | 1,500 | 1,613 | 3,113 | ||
| Reconciliation offunds: | |||||
| Total funds brought forward | 870,841 | 8,292 | 879,133 | ||
| Total funds carriedforward | 872,341 | 9,905 | 882,246 | ||
| 4 | Incomefrom donationsand | Unrestricted | Restricted | Total | Total |
| legacies | 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| 12772 | 37,961 | 50,733 | 29,771 | ||
| 12,772 | 37,961 | 50,733 | 29,771 | ||
| 5 | Incomefrom charitable activities | Unrestricted | Restricted | Total | Total |
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| 369,061 | - | 369,061 | 341,601 | ||
| 369,061 | - | 369,061 | 341,601 | ||
| 6 | Incomefromothertrading activities |
Unrestricted 2024 |
Restricted 2024 |
Total 2024 |
Total 2023 |
| Fees Visits Otter |
£ 20,880 2,758 183,318 ___—-206,956 |
£ - . , - |
£ 20,880 2,758 183,318 206,956 |
£ 18,574 656 119,094 138,324 |
Page 14
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
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----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|7|Income from|investments|Unrestricted|Restricted|Total|Total|
|2024|2024|2024|2023|
|£|£|£|£|
|2,017|-|2,017|1,440|
|2,017|-|2,017|1,440|
|8|Expenditure on|raising funds|Unrestricted|Restricted|Total|Total|
|2024|2024|2024|2023|
|£|£|£|£|
|Fundraising|trading|costs|76,308|-|76,308|80,676|
|76,308|.|76,308|80,676|
|9|Expenditure on|charitable|activities|Unrestricted|Restricted|Total|Total|
|2024|2024|2024|2023|
|£|£|£|£|
|Charitable|activities|costs|91,742|-|91,742|88,445|
|Governance|costs|74,791|-|74,791|52,159|
|166,533|-|166,533|140,604|
|10|Other expenditure|Unrestricted|Restricted|Total|Total|
|2024|2024|2024|2023|
|£|£|£|£|
|Bank|loan|and|overdraft|interest|10,770|-|10,770|12,676|
|payable|
|Motor|and|travel|costs|596|-|596|867|
|Premises|costs|168,116|-|168,116|190,708|
|Amortisation,|depreciation,|30,974|-|30,974|32,726|
|impairment|of fixed|assets|
|General|and|administrative|costs|45,310|-|45,310|47,836|
|Legal|and|professional|costs|2,216|-|2,216|1,930|
|257,982|-|257,982|286,743|
|11|Net income/(expenditure) before|Unrestricted|Restricted|Total|Total|
|transfers|2024|2024|2024|2023|
|£|£|£|£|
|This|is|stated|after|charging:|
|Depreciation|of owned|fixed|assets|30,974|-|30,974|32,726|
----- End of picture text -----
12 Staff costs
No employee received emoluments in excess of £60,000
Page 15
Tara International Kadampa Retreat Centre Ltd Notes to the Accounts for the year ended 31 December 2024
| 13 | Tangible fixed assets | Fixtures, | ||||
|---|---|---|---|---|---|---|
| Landand | Plantand | Motor | fittings& | |||
| buildings | machinery | vehicles | equipment | Total | ||
| £ | £ | £ | £ | £ | ||
| Cost or revaluation | ||||||
| At 1 January 2024 | 1,033,331 | 11,538 | 7,000 | 161,436 | 1,213,305 | |
| Additions | 20,809 | - | - | : | 20,809 | |
| Disposals | - | - | (7,000) | . | (7,000) | |
| At 31 December 2024 | 1,054,140 | 11,538 | - | 161,436 | 1,227,114 | |
| Depreciation and | ||||||
| impairment | ||||||
| At 1 January 2024 | 139,795 | 11,538 | 6,563 | 128,421 | 286,317 | |
| Charge fortheyear | 19,969 | x | - | 11,005 | 30,974 | |
| Disposals | . | B | (6,563) | (6,563) | ||
| At31 December 2024 | 159,764 | 11,538 | - | 139,426 | 310,728 | |
| Net book values | ||||||
| At31 December 2024 | 894,376 | - | - | 22,010 | 916,386 | |
| At 31 December 2023 | 893,536 | - | 437 | 33,015 | 926,988 | |
| 14 | Stocks | 2024 | 2023 | |||
| £ | £ | |||||
| Finished goods | 4,515 | 4,475 | ||||
| 4,515 | 4,475 | |||||
| 15 | Debtors | 2024 | 2023 | |||
| £ | £ | |||||
| Trade debtors | 1,295 | 2,238 | ||||
| Other debtors | 62,777 | 60,000 | ||||
| Prepayments | - | 9,141 | ||||
| 64,072 | 71,379 | |||||
| 16 | Creditors: amounts fallingdue | duewithin oneyear | 2024 | 2023 | ||
| £ | £ | |||||
| Bank loans and overdrafts | 118,340 | 160,590 | ||||
| Trade creditors | - | 529 | ||||
| Othertaxes and social security | 12,790 | S771 | ||||
| Othercreditors | 107,683 | 75,290 | ||||
| Accruals | 4,197 | 1,780 | ||||
| 243,010 | 244,590 |
Page 16
Tara International Kadampa Retreat Centre Ltd
Notes to the Accounts for the year ended 31 December 2024
| 17 | Movement in funds | Incoming | ||||
|---|---|---|---|---|---|---|
| resources | ||||||
| At1 | (including | At 31 | ||||
| January | other | Resources | December | |||
| 2024 | gains/losses) | expended | 2024 | |||
| £ | £ | £ | £ | |||
| Restricted funds: | ||||||
| Restricted income funds | ||||||
| New meditation hall | 9,905 | 37,961 | - | 47,866 | ||
| Total restricted funds | 9,905 | 37,961 | - | 47,866 | ||
| Unrestricted funds: | ||||||
| General funds | 872,341 | 590,806 | (500,823) | 962,324 | ||
| 882,246 | 628,767 | (500,823) | 1,010,190 | |||
| Purposes and restrictions in relation to thefunds: | ||||||
| New meditation hall - construction of | a new meditation hall | |||||
| 18 | Analysis ofnet assetsbetweenfunds | funds | Unrestricted | Restricted | ||
| funds | funds | Total | ||||
| £ | £ | £ | ||||
| Fixed assets | 868,520 | 47,866 | 916,386 | |||
| Net current assets | 93,804 | - | 93,804 | |||
| 962,324 | 47,866 | 1,010,190 | ||||
| 19 | Reconciliation of net debt | At1 | At 31 | |||
| January | December | |||||
| 2024 | Cash flows | 2024 | ||||
| £ | £ | £ | ||||
| Cash and cash equivalents | 123,994 | 144,233 | 268,227 | |||
| Bank loans | (160,590) | 42,250 | (118,340) | |||
| (36,596) | 186,483 | 149,887 |
20 Related party disclosures
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 17
Tara International Kadampa Retreat Centre Ltd
Detailed Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Income and endowments from: | ||||
| Donationsand legacies | 12,772 | 37,961 | 50,733 | 29,771 |
| Charitable activities | 369,061 | - | 369,061 | 341,601 |
| Other trading activities | ||||
| Fees | 20,880 | . | 20,880 | 18,574 |
| Visits | 2,758 | . | 2,758 | 656 |
| Other | 183,318 | - | 183,318 | 119,094 |
| 206,956 | - | 206,956 | 138,324 | |
| Investments | 2,017 | - | 2,017 | 1,440 |
| Total income andendowments | 590,806 | 37,961 | 628,767 | 511,136 |
| Expenditure on: | ||||
| Fundraising trading costs | 76,308 | - | 76,308 | 80,676 |
| Total expenditure on raisingoffunds | 76,308 | - | 76,308 | 80,676 |
| Charitable activities costs | 91,742 | - | 91,742 | 88,445 |
| Governance costs | 74,791 | - | 74,791 | 52,159 |
| Total expenditure on charitable | 166,533 | - | 166,633 | 140,604 |
| activities | ||||
| _ | ||||
| Other Expenditure | ||||
| Bankloan andoverdraft interest | 10,770 | - | 10,770 | 12,676 |
| payable | ||||
| Motor and travel costs | ||||
| Vehicle—generalcosts | - | - | - | 613 |
| Travel& subsistence | 596 | - | 596 | 254 |
| 596 | . | 596 | 867 | |
| Premises costs | ||||
| Rates | 14,538 | - | 14,538 | 9,004 |
| Light, heatandpower | 70,666 | - | 70,666 | LE SIL |
| Premises, repairsandmaintenance | 68,073 | - | 68,073 | 90,351 |
| Otherpremises costs | 14,839 | - | 14,839 | 13,782 |
| 168,116 | - | 168,116 | 190,708 |
Page 18
Tara International Kadampa Retreat Centre Ltd
Detailed Statement of Financial Activities for the year ended 31 December 2024
| General administrative costs, | ||||
|---|---|---|---|---|
| including depreciation | ||||
| Depreciation ofland& buildings | 19,969 | - | 19,969 | 19,971 |
| Depreciation ofplant & machinery | - | - | - | - |
| Depreciation ofmotorvehicles | - | - | - | 1,750 |
| Depreciation offixtures, fittings and | 11,005 | - | 11,005 | 11,005 |
| equipment | ||||
| Baddebts | 969 | - | 969 | . |
| Bankcharges | 9,545 | - | 9,545 | 9,226 |
| Generalinsurances | 10,644 | - | 10,644 | 13,879 |
| Software, ITsupportandrelatedcosts | - | - | - | 3,271 |
| Stationeryandprinting | 1,128 | - | 1,128 | - |
| Sundryexpenses | 12,012 | 12,012 | 12,039 | |
| Telephone,faxandbroadband | 11,012 | - | 11,012 | 9,421 |
| 76,284 | - | 76,284 | 80,562 | |
| Legal and professional costs | ||||
| Accountancyandbookkeeping | 1,780 | - | 1,780 | 1,780 |
| Other legalandprofessional costs | 436 | - | 436 | 150 |
| 2,216 | - | 2,216 | 1,930 | |
| Total ofexpenditureon othercosts | 257,982 | - | 257,982 | 286,743 |
| Total expenditure | 500,823 | - | 500,823 | 508,203 |
| Netincome/(expenditure) | 89,893 | - | 127,944 | 3,113 |
| Transfers between funds | - | - | - | - |
| Netexpenditure/income before | 89,983 | 37,961 | 127,944 | 3,113 |
| othergains/(losses) | ||||
| Other gains and losses | : | = | = | = |
| Netmovement infunds | 89,983 | 37,961 | 127,944 | 3,113 |
| Reconciliation offunds: | ||||
| Total funds broughtforward | 872,341 | 9,905 | 882,246 | 879,133 |
| Totalfundscarriedforward | 962,324 | 47,866 | 1,010,190 | 882,246 |
Page 19