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REGISTERED COMPANY NUMBER: 05403805 (England and Wales)
REGISTERED CHARITY NUMBER: 1109242













REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

JAMYANG BUDDHIST CENTRE LEEDS
(A COMPANY LIMITED BY GUARANTEE)

JAMYANG BUDDHIST CENTRE LEEDS






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 13

JAMYANG BUDDHIST CENTRE LEEDS (REGISTERED NUMBER: 05403805)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES
The charity's aims are to promote wellbeing, meditation and public benefit in accordance with Buddhist principles, and the preservation of the Buddhist Mahayana tradition throughout the north of England and elsewhere.
In order to fulfill our aims, we have developed a substantial set of offerings to the local and wider community, including a shop and café, space for hire and offices let to complementary organisations.

We offer a whole programme of Buddhist classes and practices and wellbeing activities. Most of our Buddhist classes and practices have remained online and reach a wide audience, across the UK and beyond. Wellbeing activities have done particularly well and we have grown our partnership working with several organisations. We have offered a higher level of community events than previously, which benefited the local community and allowed growth for the shop and cafe; our income generating stream has therefore grown and offers financial support to our charitable aims stated above, in spite of changes in key staff which have somewhat impacted on our planned growth.

The charity held its AGM in October and Trustees met throughout the year as well as on their annual away-day in July in which we reviewed the strategic plan and finances. The financial position remains strong, and the building represents a huge asset with great potential. Links with the local community and the city are developing well. We are confident that we can continue to grow and develop our activities in order to fulfill our charitable aims and become a well established regional and national provider.

FINANCIAL REVIEW
Reserves policy
It is the current policy of the charity to maintain reserves at a level which equates to at least 3 months of unrestricted expenditure. This provides sufficient funds to cover both management and administrative costs whilst incorporating a contingency sum to cover any unexpected costs.

This policy is reviewed each year by both directors and trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Further information can be found in the Memorandum and Articles of Association as incorporated on 24th March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05403805 (England and Wales)

Registered Charity number
1109242

Registered office
Clyde Works
Ingram Road
Leeds
West Yorkshire
LS11 9RQ


JAMYANG BUDDHIST CENTRE LEEDS (REGISTERED NUMBER: 05403805)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2023

Trustees
Dr M J J Leconte Retired
Ms C A Martindale Trustee (resigned 27.10.22)
Mr U Park Lecturer
Mr J Simpson House Manager
Mr A P Bowley Landscape Designer (resigned 27.10.22)
Ms K Cooper Trustee
Mr G Mcdougall Trustee
Ms S E Metcalfe Trustee
Dr C Starkey University Lecturer (appointed 27.10.22)

Independent Examiner
Sherice Parfitt
Harrison & Co
Chartered Accountants
531 Denby Dale Road West
Calder Grove
Wakefield
West Yorkshire
WF4 3ND

Bankers
The Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 31 October 2023 and signed on its behalf by:





Dr M J J Leconte - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
JAMYANG BUDDHIST CENTRE LEEDS

Independent examiner's report to the trustees of Jamyang Buddhist Centre Leeds ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts 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)).

I 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 accounts to be reached.








Sherice Parfitt

Harrison & Co
Chartered Accountants
531 Denby Dale Road West
Calder Grove
Wakefield
West Yorkshire
WF4 3ND

31 October 2023

JAMYANG BUDDHIST CENTRE LEEDS

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 54,017 3,000 57,017 44,543

Charitable activities
General 18,350 - 18,350 17,737

Other trading activities 2 89,885 - 89,885 86,216
Investment income 3 184 - 184 11
Total 162,436 3,000 165,436 148,507

EXPENDITURE ON
Raising funds 4 16,926 4,131 21,057 24,080

Charitable activities
General 109,916 8,936 118,852 104,379

Other - - - 7,123
Total 126,842 13,067 139,909 135,582

NET INCOME/(EXPENDITURE) 35,594 (10,067 ) 25,527 12,925
Transfers between funds 15 (250,152 ) 250,152 - -
Net movement in funds (214,558 ) 240,085 25,527 12,925

RECONCILIATION OF FUNDS
Total funds brought forward 315,036 - 315,036 302,111

TOTAL FUNDS CARRIED FORWARD 100,478 240,085 340,563 315,036

JAMYANG BUDDHIST CENTRE LEEDS (REGISTERED NUMBER: 05403805)

BALANCE SHEET
31 JULY 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 69,650 400,000 469,650 471,639

CURRENT ASSETS
Stocks 10 24,300 - 24,300 31,300
Debtors 11 6,996 - 6,996 4,614
Cash at bank 61,417 (11,829 ) 49,588 39,838
92,713 (11,829 ) 80,884 75,752

CREDITORS
Amounts falling due within one year 12 (44,357 ) (9,503 ) (53,860 ) (63,952 )

NET CURRENT ASSETS 48,356 (21,332 ) 27,024 11,800

TOTAL ASSETS LESS CURRENT
LIABILITIES

118,006

378,668

496,674

483,439

CREDITORS
Amounts falling due after more than one year 13 (17,528 ) (138,583 ) (156,111 ) (168,403 )

NET ASSETS 100,478 240,085 340,563 315,036
FUNDS 15
Unrestricted funds 100,478 86,098
Restricted funds 240,085 228,938
TOTAL FUNDS 340,563 315,036

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


JAMYANG BUDDHIST CENTRE LEEDS (REGISTERED NUMBER: 05403805)

BALANCE SHEET - continued
31 JULY 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2023 and were signed on its behalf by:





Dr M J J Leconte - Trustee

JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Library - 5% on cost
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Café, shop and rental 89,885 86,216

3. INVESTMENT INCOME
2023 2022
£    £   
Deposit account interest 184 11

4. RAISING FUNDS

Investment management costs
2023 2022
£    £   
Property reps and maintenance 1,633 5,692

5. NET INCOME/(EXPENDITURE)

Net resources are stated after charging (crediting):-

2020 2019
£    £   
Depreciation 945 1,128

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.


7. STAFF COSTS

The average monthly number of employees during the year was as follows:

2023 2022
Support staff 3 4

No employees received emoluments in excess of £60,000.


JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 44,497 46 44,543

Charitable activities
General 17,737 - 17,737

Other trading activities 86,216 - 86,216
Investment income 11 - 11
Total 148,461 46 148,507

EXPENDITURE ON
Raising funds 24,080 - 24,080

Charitable activities
General 104,379 - 104,379

Other 7,123 - 7,123
Total 135,582 - 135,582

NET INCOME 12,879 46 12,925


RECONCILIATION OF FUNDS
Total funds brought forward 73,219 228,892 302,111

TOTAL FUNDS CARRIED FORWARD 86,098 228,938 315,036

9. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Library
£    £    £   
COST
At 1 August 2022 and 31 July 2023 400,000 55,334 5,865
DEPRECIATION
At 1 August 2022 - - 1,593
Charge for year - - 293
At 31 July 2023 - - 1,886
NET BOOK VALUE
At 31 July 2023 400,000 55,334 3,979
At 31 July 2022 400,000 55,334 4,272

JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. TANGIBLE FIXED ASSETS - continued
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 and 31 July 2023 19,427 7,038 487,664
DEPRECIATION
At 1 August 2022 10,685 3,747 16,025
Charge for year 874 822 1,989
At 31 July 2023 11,559 4,569 18,014
NET BOOK VALUE
At 31 July 2023 7,868 2,469 469,650
At 31 July 2022 8,742 3,291 471,639

10. STOCKS
2023 2022
£    £   
Finished goods 24,300 31,300

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,996 4,614

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 14) 7,740 6,713
Trade creditors 7,147 8,990
Social security and other taxes - 378
Other creditors 14,703 16,794
Pension creditor - 228
Accruals and deferred income 24,270 30,849
53,860 63,952


JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 14) 17,529 26,404
Other creditors 38,011 46,512
Other creditors 100,571 95,487
156,111 168,403

14. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Bank overdrafts - 46
Bank loans 7,740 6,667
7,740 6,713
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,529 26,404

15. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.8.22 in funds funds 31.7.23
£    £    £    £   
Unrestricted funds
General fund 315,036 35,594 (250,152 ) 100,478

Restricted funds
Restricted Fund - (10,067 ) 250,152 240,085

TOTAL FUNDS 315,036 25,527 - 340,563

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 162,436 (126,842 ) 35,594

Restricted funds
Restricted Fund 3,000 (13,067 ) (10,067 )

TOTAL FUNDS 165,436 (139,909 ) 25,527


JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.8.21 in funds 31.7.22
£    £    £   
Unrestricted funds
General fund 73,219 12,879 86,098

Restricted funds
Restricted Fund 228,892 46 228,938

TOTAL FUNDS 302,111 12,925 315,036

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 148,461 (135,582 ) 12,879

Restricted funds
Restricted Fund 46 - 46

TOTAL FUNDS 148,507 (135,582 ) 12,925

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.8.21 in funds funds 31.7.23
£    £    £    £   
Unrestricted funds
General fund 73,219 48,473 (250,152 ) (128,460 )

Restricted funds
Restricted Fund 228,892 (10,021 ) 250,152 469,023

TOTAL FUNDS 302,111 38,452 - 340,563

JAMYANG BUDDHIST CENTRE LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 310,897 (262,424 ) 48,473

Restricted funds
Restricted Fund 3,046 (13,067 ) (10,021 )

TOTAL FUNDS 313,943 (275,491 ) 38,452

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2023.