REGISTERED COMPANY NUMBER: 03784804 (England and Wales)

REGISTERED CHARITY NUMBER: 1080512

ODIYANA KADAMPA MEDITATION CENTRE LTD

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

12

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 December 2025. 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

Objectives and aims

The charity is overseen by the 3 trustees but the day to day running and decisions are made by the 3 primary managers - the resident teacher, Education Programme Coordinator and the Administrative Director. We have an AGM each year where all the managers, trustees, treasurer and charity members (which include all the resident teachers of all the other UK Kadampa Centres) meet to discuss the year and check the accounts. Trustees are appointed by being proposed by a manager or current trustee and then seconded by another. Each trustee can only serve on a 3 year basis other than Tracey Oliver-Walsh who is appointed by the New Kadampa Tradition (the Buddhist tradition we are associated with). The treasurer provides the manager and the trustees with a monthly report giving an overview of the finances.

Our objectives are to provide affordable, practical and qualified meditation classes, courses and retreats to anyone

within the Cheshire area both at our premises in Northwich and also to branch classes throughout the county. These

events are offered to anyone, not just Buddhists.

Slow and steady financial growth over the year is helping us to continue to deliver our aims to provide the people of Cheshire with affordable and accessible meditation courses and classes.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03784804 (England and Wales)

Registered Charity number

1080512

Registered office

The Heysoms

163 Chester Road

Northwich

Cheshire

CW8 4AG

Trustees

J Davies (appointed 22/06/2025)

M Christopherson

B Johnson (resigned 22/06/2025)

T Oliver - Walsh

Company Secretary

C J Chapman

Independent Examiner

Murray Smith LLP

Chartered Accountants

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

Approved by order of the board of trustees on 24 June 2026 and signed on its behalf by:

C J Chapman - Secretary

Independent examiner's report to the trustees of Odiyana Kadampa Meditation Centre Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

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.

Nicola Tucker

Murray Smith LLP

Chartered Accountants

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

24 June 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

2,943

1,747

Other trading activities

3

21,332

27,134

Investment income

4

43,830

39,555

Total

68,105

68,436

EXPENDITURE ON

Charitable activities

5

Other costs

23,898

23,574

Office costs

17,334

25,145

Projects & activities

20,255

18,266

Total

61,487

66,985

NET INCOME

6,618

1,451

RECONCILIATION OF FUNDS

Total funds brought forward

517,261

515,810

TOTAL FUNDS CARRIED FORWARD

523,879

517,261

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

10

367,322

372,804

CURRENT ASSETS

Debtors

11

1,000

1,800

Cash at bank and in hand

157,991

146,097

158,991

147,897

CREDITORS

Amounts falling due within one year

12

(2,434

)

(3,440

)

NET CURRENT ASSETS

156,557

144,457

TOTAL ASSETS LESS CURRENT LIABILITIES

523,879

517,261

NET ASSETS

523,879

517,261

FUNDS

13

Unrestricted funds

523,879

517,261

TOTAL FUNDS

523,879

517,261

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

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 24 June 2026 and were signed on its behalf by:

T Oliver-Walsh - Trustee

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.

Income with related expenditure

Where income has related expenditure the income and related expenditure is reported gross in the Statement of Financial Activities.

Donations and legacies

Voluntary income by way of grants, donations and gifts is included in the Statement of Financial Activities when receivable and only when the Charity has unconditional entitlement to the income.

Tax reclaims on donations and gifts

Income from tax reclaims is included in the Statement of Financial Activities at the same time as the gift/donation to which it relates.

Volunteer help

The value of any volunteer help received is not included in the accounts.

Investment income

This is included in the accounts when receivable.

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.

Expenditure on raising funds

These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.

Expenditure on charitable activities

These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objectives, 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 costs

These are support costs not allocated to a particular activity

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

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.

Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.

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

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.

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.

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.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

2,943

1,747

3.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Shop income

445

452

Study programmes

7,971

11,529

Courses

6,828

7,970

Centre card

565

985

Fundraising

3,976

4,575

School visits

237

137

Laundry income

652

756

Tsog shop

658

730

21,332

27,134

4.	INVESTMENT INCOME

2025

2024

£

£

Rents received

40,311

35,450

Deposit account interest

3,519

4,105

43,830

39,555

5.	CHARITABLE ACTIVITIES COSTS

Direct

Costs

£

Other costs

23,898

Office costs

17,334

Projects & activities

20,255

61,487

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

5,975

5,881

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

8.	STAFF COSTS

2025

2024

£

£

Wages and salaries

5,080

6,440

5,080

6,440

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

2025

2024

Teaching

1

1

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

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,747

Other trading activities

27,134

Investment income

39,555

Total

68,436

EXPENDITURE ON

Charitable activities

Other costs

23,574

Office costs

25,145

Projects & activities

18,266

Total

66,985

NET INCOME

1,451

RECONCILIATION OF FUNDS

Total funds brought forward

515,810

TOTAL FUNDS CARRIED FORWARD

517,261

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2025

389,903

2,099

9,731

401,733

Additions

-

493

-

493

At 31 December 2025

389,903

2,592

9,731

402,226

DEPRECIATION

At 1 January 2025

17,394

1,804

9,731

28,929

Charge for year

5,798

177

-

5,975

At 31 December 2025

23,192

1,981

9,731

34,904

NET BOOK VALUE

At 31 December 2025

366,711

611

-

367,322

At 31 December 2024

372,509

295

-

372,804

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,000

1,800

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25

-

Other creditors

1,000

1,800

Accruals and deferred income

1,409

1,640

2,434

3,440

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

517,261

6,618

523,879

TOTAL FUNDS

517,261

6,618

523,879

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

68,105

(61,487

)

6,618

TOTAL FUNDS

68,105

(61,487

)

6,618

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

515,810

1,451

517,261

TOTAL FUNDS

515,810

1,451

517,261

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

68,436

(66,985

)

1,451

TOTAL FUNDS

68,436

(66,985

)

1,451

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

15.	LEGAL STATUS OF ODIYANA KADAMPA MEDITATION CENTRE LTD

Odiyana Kadampa Meditation Centre Ltd is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.