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COMPANY REGISTRATION NUMBER: 04271203
CHARITY REGISTRATION NUMBER: 1089869
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2024
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
5
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024 .
Reference and administrative details
Registered charity name
Uma Kadampa Meditation Centre
Charity registration number
1089869
Company registration number
04271203
Principal office and registered
16-18 Spencer Street
office
Carlisle
Cumbria
CA1 1BG
The trustees
A E R P Jones
(Resigned 21 April 2024)
D N Stones
T Oliver-Walsh
(Resigned 5 September 2024)
LM Devine
(Appointed 5 September 2024)
BJ Strotton
(Appointed 21 April 2024)
Company secretary
T Oliver-Walsh
Independent examiner
Mr RW Gordon, FCA
Briar Lea House
Brampton Road
Longtown
Carlisle
Cumbria
CA6 5TN
Structure, governance and management
Governing Document
The charity, Uma Kadampa Meditation Centre is a charitable company limited by guarantee; incorporated on 15th August 2001 under the Companies Act 1985, as a private limited company. It was registered as a charity on 19th December 2001. Originally incorporated as Uma Buddhist Centre the name was changed by special resolution on the 24th September 2014. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association, as amended by special resolutions on 6th February 2004 and 6th November 2020. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Management Committee
Trustees are recruited from within the centre or from other similar centres so that they have knowledge and understanding of the charity's aims and workings. To be elected or appointed as a trustee, the nominee must be a member of the charity and are elected by the members at the Annual General Meeting or by the trustees and other members of the organisation, in particular the Administrative Director and Resident Teacher, who have experience within the organisation.
The number of Directors shall be three, two of whom must be Members (and normally Local Members) and shall be elected by members of the charity. The third Director shall be an ex offico Director and must be the duly appointed Administrative Director of a major NKT-IKBU Kadampa Meditation Centre in the United Kingdom, as specified in the Articles of Association. Neither the Spiritual Director nor the Administrative Director not the Resident Teacher of the Charity may be a director.
Related Charities
The charity is a member of the New Kadampa Tradition - International Kadampa Buddhist Union ("NKT-IKBU), which is made up of the many centres throughout the world with the same objects, however they are independent charities lined only by their objects and there is no financial dependency although funds may pass between centres to fulfill aims and objectives.
Trustee induction and training
Every trustee must be familiar with the practical work of the charity and the New Kadampa Tradition - International Kadampa Buddhist Union (NKT-IKBU). The trustees are familiar with the Memorandum and Articles of the charity, understand their obligations as Management Committee members and are aware of the current financial position of the charity. In addition they must have read, understood entirely and accepted the Internal Rules of NKT-IKBU.
Organisational Structure
The board of Directors shall appoint an Administrative Director and shall delegate the responsibility for all day-to-day management of the charity to him/her. The day-to-day activities and affairs of the charity shall be conducted and all corresponding corporate powers shall be exercised by the Administrative Director, in consultation with the trustees.
The charity is affiliated with the New Kadampa Tradition charity, which is a parent organisation for the centres of the NKT-IKBU worldwide. As an affiliated centre, Uma Kadampa Meditation Centre follows and acts in accordance with the Internal Rules of NKT-IKBU.
Related Parties and co-operation with other organisations
None of the trustees receive a remuneration or other benefit from their work with the charity, Uma Kadampa Meditation Centre also occasionally cooperates with the New Kadampa Tradition Charity, and the other NKT-IKBU centres worldwide, for example when organising events.
Pay policy for senior staff
The directors who are the charity's trustees, and the senior management team comprise of the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.
All Directors/trustees give of their time freely and no director/trustee received any remuneration in the year.
Risk Management
The trustees have a risk management strategy which comprises of:
-regular reviews of the principal risks and uncertainties that may face the charity;
-the establishment of policies, systems and procedures to mitigate any risks identified in regular reviews;
-and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
Objectives and activities
The company's objects and principal activities are to:
To promote the Buddhist Faith under the spiritual guidance of the elected General Spiritual Director of the New Kadampa Tradition - International Kadampa Buddhist Union (NKT-IKBU) principally through the activities of teaching, study, practice and the observance of moral discipline all within the Mahayana Buddhist tradition of Atisha and Je Tsongkhapa as taught by Venerable Geshe Kelsang Gyatso, the founder of the New Kadampa Tradition - International Kadampa Buddhist Union, through the continuous implementation of the three study programmes; the General Programme, the Foundation Programme and the Teacher Training Programme, all as defined in Schedule A.
Schedule A
The General Programme provides a basic introduction to Buddhist View and meditation that is suitable for beginners. The Foundation Programme provides an opportunity to deepen our understanding and experience of Buddhism through the systematic study of Buddhist texts. The Teacher Training Programme provides an opportunity to deepen our understanding and experience of Buddhism through the systematic study of Buddhists texts.
Volunteers
The charity makes significant use of volunteers in all areas of its activities. All General Programme classes held outside the centre are taught on a voluntary basis with support from local class members. The centre itself also regularly makes use of volunteers in many areas, ranging from occasional help, through regular help, to full-time work on specific projects.
Public Benefits
In exercising their powers and duties, the trustees have had due regard to the guidance on public benefit published by the Charity Commission. They believe that the work of the charity in promoting the Buddhist faith has clearly identifiable benefits. The charity believes that there are three important public benefits to promoting the Buddhist faith: to help people to develop their wisdom, to cultivate a good heart, and to maintain a peaceful mind. If we do not strive to develop our wisdom, we will always remain ignorant to the true nature of reality. Everyone wishes for happiness, but our ignorance or reality leads us to engage in non-virtuous actions, which in turn are the main cause of all our suffering. Further, if we do not cultivate a good heart towards others, then our selfish motivation destroys the harmony of our relationships with others. We then have no peace, and no chance to gain pure happiness. Without inner peace, outer peace is impossible, both personally and throughout society.
Benefit to the Public
The charity offers regular courses of instruction in Buddhist philosophy, psychology and meditation, bringing personal and social benefit. These courses are accessible to the public for modest fees. The more advanced courses of instruction require a greater commitment of personal time from participants. The charity also maintains a year-round programme of services of prayer and meditation, again open to the public.
Achievements and performance
There were significant changes made in 2024 in order to improve the spiritual and material development of the centre.
A new Resident Teacher and Admin Director were appointed in June 2024. The education programme was expanded to offer new and more classes to attract more students to the centre. This included trialling classes in various locations throughout North and West Cumbria. The two successful branch locations that continued to operate at the end of 2024 were Penrith and Workington.
Renovations were made to update some of the public area of the centre. This included re-decorating and modernising the lounge and main entrance and hallway.
We continued to engage with the wider community by partaking in numerous school visits and community events.
Financial review
The trustees were satisfied with the results for the year, accepting that the loss incurred, of £8,0140, although significant, is due to the unavoidable increases in loan interest rates and the increased cost of living in the UK. Planning ahead, the Trustees will be looking into suitable methods for making savings and increasing income.
Our pricing policy
Our pricing policy reflects our strategy of enabling all within our community, whatever their means, to take part in our activities, to attend our meditation classes and courses, concessionary admittance to these events is available on request. No one is turned away for genuine lack of funds.
To view our programme, and for further details of entrance fees, visit our website uma.org.uk or telephone our office, 01228 319344 or email info@uma.org.uk, for the centre opening times check our website.
Investment powers and policy
The trustees, having regard to the liquidity requirements of operating the charity, have kept available funds in an interest-bearing deposit account and seek to achieve a rate of deposit which matches or exceeds inflation as measured by the retail prices index. Due to wider economic circumstances deposit rates have been depressed and so this aim was not achieved in the year.
Reserves policy and going concern
The Board of Directors/trustees ensures that there are sufficient reserves available to bridge the gap between the spending and receiving of income, and to cover any unplanned repairs and other expenditure in unrestricted funds based on previous year's expenditure and current budgets. These standards are set out in the Money Handbook issued by the NKT-IKBU. The directors are of the view that the Charity is a going concern, based on the relative stability in the activities of the charity.
Principle Funding Sources
All income in the year came from charitable activities; no funding was received from outside sources.
Plans for future periods
The charity will work to continue to increase the attendance at the three study programmes and increase volunteer engagement in the organisation and running of the centre.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 28 February 2025 and signed on behalf of the board of trustees by:
D N Stones
Trustee
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Uma Kadampa Meditation Centre
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of Uma Kadampa Meditation Centre ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 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).
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.
Mr RW Gordon, FCA Independent Examiner
Briar Lea House Brampton Road Longtown Carlisle Cumbria CA6 5TN
28 February 2025
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
11,358
11,358
3,829
Charitable activities
6
14,194
14,194
13,505
Other trading activities
7
37,149
37,149
36,590
Investment income
8
355
355
348
--------
--------
--------
Total income
63,056
63,056
54,272
--------
--------
--------
Expenditure
Expenditure on charitable activities
9,10
71,070
71,070
62,122
--------
--------
--------
Total expenditure
71,070
71,070
62,122
--------
--------
--------
--------
--------
--------
Net expenditure and net movement in funds
( 8,014)
( 8,014)
( 7,850)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
51,444
51,444
59,294
--------
--------
--------
Total funds carried forward
43,430
43,430
51,444
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
14
228,000
229,500
Current assets
Stocks
15
500
1,344
Debtors
16
963
1,026
Cash at bank and in hand
21,913
39,571
--------
--------
23,376
41,941
Creditors: amounts falling due within one year
17
7,149
12,551
--------
--------
Net current assets
16,227
29,390
---------
---------
Total assets less current liabilities
244,227
258,890
Creditors: amounts falling due after more than one year
18
200,797
207,446
---------
---------
Net assets
43,430
51,444
---------
---------
Funds of the charity
Unrestricted funds
43,430
51,444
--------
--------
Total charity funds
19
43,430
51,444
--------
--------
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
D N Stones
Trustee
Uma Kadampa Meditation Centre
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 16-18 Spencer Street, Carlisle, Cumbria, CA1 1BG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is limited by guarantee and does not have a share capital.
The liability of the members in the event of the company being liquidated is limited to £1 per member.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
6,000
6,000
Other donations and legacies
Designated funds
313
313
1,392
1,392
General funds
4,574
4,574
1,308
1,308
Gift Aid
458
458
1,117
1,117
Membership fees
13
13
12
12
--------
--------
-------
-------
11,358
11,358
3,829
3,829
--------
--------
-------
-------
6. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Meditation retreats
790
790
378
378
General Programme
4,786
4,786
3,285
3,285
Lunchtime Meditation
475
475
684
684
Foundation Program
1,837
1,837
3,990
3,990
Monthly Membership fees
3,591
3,591
2,560
2,560
School Visits
846
846
76
76
Kids Club
408
408
Day / Half Day Courses
1,461
1,461
2,064
2,064
Empowerment
468
468
--------
--------
--------
--------
14,194
14,194
13,505
13,505
--------
--------
--------
--------
7. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Fundraising events
4
4
Dharma Shop income
782
782
706
706
Miscellaneous shop income
121
121
187
187
Casual accomodation
50
50
270
270
Residents rent
19,071
19,071
21,769
21,769
Residents rent sponsorship
5,792
5,792
4,830
4,830
Residents utilities income
6,829
6,829
5,493
5,493
Residents utilities sponsorship
1,980
1,980
1,260
1,260
Residents council tax
1,733
1,733
1,380
1,380
Residents council tax sponsorship
543
543
315
315
Laundry income
248
248
376
376
--------
--------
--------
--------
37,149
37,149
36,590
36,590
--------
--------
--------
--------
8. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
355
355
348
348
----
----
----
----
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charitable activities
69,210
69,210
61,762
61,762
Support costs
1,860
1,860
360
360
--------
--------
--------
--------
71,070
71,070
62,122
62,122
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Charitable activities
69,210
69,210
61,762
Governance costs
1,860
1,860
360
--------
-------
--------
--------
69,210
1,860
71,070
62,122
--------
-------
--------
--------
11. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
7,500
6,000
-------
-------
12. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
360
360
----
----
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
Freehold property
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
300,000
300,000
Additions
6,000
6,000
---------
-------
---------
At 31 December 2024
300,000
6,000
306,000
---------
-------
---------
Depreciation
At 1 January 2024
70,500
70,500
Charge for the year
6,000
1,500
7,500
---------
-------
---------
At 31 December 2024
76,500
1,500
78,000
---------
-------
---------
Carrying amount
At 31 December 2024
223,500
4,500
228,000
---------
-------
---------
At 31 December 2023
229,500
229,500
---------
-------
---------
15. Stocks
2024
2023
£
£
Raw materials and consumables
500
1,344
----
-------
16. Debtors
2024
2023
£
£
Trade debtors
963
Prepayments and accrued income
1,026
----
-------
963
1,026
----
-------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,179
5,710
Trade creditors
610
4,486
Accruals and deferred income
360
360
Other creditors
1,995
-------
--------
7,149
12,551
-------
--------
18. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
200,797
207,446
---------
---------
The loan is secured on the property " Uma Kadampa Meditation Centre ", in favour of the Triodos Bank, over a period of 25 years.
The loan is repayable in equal monthly instalments to cover capital and interest. Interest only has been paid during the pandemic.
19. Analysis of charitable funds
Unrestricted funds
At 1 January 2024
Income
Expenditure
At 31 December 2024
£
£
£
£
General funds
51,444
63,056
(71,070)
43,430
--------
--------
--------
--------
At 1 January 2023
Income
Expenditure
At 31 December 2023
£
£
£
£
General funds
59,294
54,272
(62,122)
51,444
--------
--------
--------
--------
20. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
228,000
228,000
Current assets
23,376
23,376
Creditors less than 1 year
(7,149)
(7,149)
Creditors greater than 1 year
(200,797)
(200,797)
---------
---------
Net assets
43,430
43,430
---------
---------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
229,500
229,500
Current assets
41,941
41,941
Creditors less than 1 year
(12,551)
(12,551)
Creditors greater than 1 year
(207,446)
(207,446)
---------
---------
Net assets
51,444
51,444
---------
---------