Drolma Mahayana Buddhist Centre Limited - Charities report

REGISTERED COMPANY NUMBER: 05239391 (England and Wales)

REGISTERED CHARITY NUMBER: 1107477

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Drolma Mahayana Buddhist Centre Limited

Page

Report of the Trustees

1

Statement of Financial Activities

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

10

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

Principal Activity

The principal activity of the company is to promote the Buddhist faith under the spiritual guidance of the elected general Director of the New Kadampa tradition principally through the activities of teaching, study and the observance of moral discipline all within the Mahayana Buddhist tradition of Je Tsongkhapa as taught by the Venerable Geshe Kelsang Gyatso, the founder of the New Kadampa tradition, through the continuous implementation of the three New Kadampa tradition study programmes: the General Programme, The Foundation Programme and the Teacher Training Programme.

Review of Progress

The Directors and Trustees consider the results for the period to be satisfactory.

FINANCIAL REVIEW

Fixed Assets

The movements in the company's fixed assets is set out in note 6 to the accounts

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Memorandum and Articles of Association dated 8th January 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05239391 (England and Wales)

Registered Charity number

1107477

Registered office

260 Dogsthorpe Road

Peterborough

Cambridgeshire

PE1 3PG

Trustees

Mrs M E Cansdale

Mrs M Palmqvist

P Bygrave (resigned 8.7.26)

C M Heyes (appointed 8.7.26)

Company Secretary

G L Southwell

Approved by order of the board of trustees on 21 September 2026 and signed on its behalf by:

G L Southwell - Secretary

31.12.25

31.12.24

Unrestricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Voluntary income

37,448

35,869

Other trading activities

2

391

567

Total

37,839

36,436

EXPENDITURE ON

Raising funds

3

13,121

15,750

Other

22,130

24,198

Total

35,251

39,948

NET INCOME/(EXPENDITURE)

2,588

(3,512

)

RECONCILIATION OF FUNDS

Total funds brought forward

200,438

203,950

TOTAL FUNDS CARRIED FORWARD

203,026

200,438

31.12.25

31.12.24

Unrestricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

7

352,426

353,039

CURRENT ASSETS

Cash in hand

2,427

6,146

CREDITORS

Amounts falling due within one year

8

(16,339

)

(16,340

)

NET CURRENT ASSETS

(13,912

)

(10,194

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

338,514

342,845

CREDITORS

Amounts falling due after more than one year

9

(135,488

)

(142,407

)

NET ASSETS

203,026

200,438

FUNDS

12

Unrestricted funds

203,026

200,438

TOTAL FUNDS

203,026

200,438

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 21 September 2026 and were signed on its behalf by:

C M Heyes - 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, as modified by the revaluation of certain assets.

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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Furnishings

-

25% on reducing balance

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.

2.	OTHER TRADING ACTIVITIES

31.12.25

31.12.24

£

Fundraising & other income

391

567

3.	RAISING FUNDS

Raising donations and legacies

31.12.25

31.12.24

£

Promotions & Advertising

410

639

Support costs

12,711

15,111

13,121

15,750

4.	NET INCOME/(EXPENDITURE)

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

31.12.25

31.12.24

£

Depreciation - owned assets

613

769

5.	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.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Voluntary income

35,869

Other trading activities

567

Total

36,436

EXPENDITURE ON

Raising funds

15,750

Other

24,198

Total

39,948

NET INCOME/(EXPENDITURE)

(3,512

)

RECONCILIATION OF FUNDS

Total funds brought forward

203,950

TOTAL FUNDS CARRIED FORWARD

200,438

7.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Furnishings

Totals

£

COST

At 1 January 2025 and
31 December 2025

350,000

2,000

22,122

8,045

382,167

DEPRECIATION

At 1 January 2025

-

2,000

19,187

7,941

29,128

Charge for year

-

587

26

613

At 31 December 2025

-

2,000

19,774

7,967

29,741

NET BOOK VALUE

At 31 December 2025

350,000

-

2,348

78

352,426

At 31 December 2024

350,000

-

2,935

104

353,039

An independent valuation carried out on the freehold property as at 2 April 2015 valued the freehold property at £350,000 generating a revaluation surplus of £20,000.

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts (see note 10)

5,000

Other loans (see note 10)

1,400

2,125

Trade creditors

2,723

1,999

Accrued expenses

7,216

16,339

16,340

9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

Bank loans (see note 10)

135,488

142,407

10.

LOANS

An analysis of the maturity of loans is given below:

31.12.25

31.12.24

£

Amounts falling due within one year on demand:

Bank loans

5,000

Other loans

1,400

2,125

6,400

7,125

Amounts falling between one and two years:

Bank loans - 1-2 years

14,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

21,000

Amounts falling due in more than five years:

Repayable by instalments:

Bank loans more 5 years

100,488

107,407

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

Bank loans

140,488

147,407

Assets held as security:

Assignment of Deposit dated 18th March 2007 and Legal Charge dated 22nd March 2007 over the freehold property known as Woodbyth, Dogsthorpe Road, Peterborough, Cambridgeshire, PE1 3PG.

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

Unrestricted funds

General fund

200,438

2,588

203,026

TOTAL FUNDS

200,438

2,588

203,026

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

37,839

(35,251

)

2,588

TOTAL FUNDS

37,839

(35,251

)

2,588

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

203,950

(3,512

)

200,438

TOTAL FUNDS

203,950

(3,512

)

200,438

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

36,436

(39,948

)

(3,512

)

TOTAL FUNDS

36,436

(39,948

)

(3,512

)

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

Net

movement

At

At 1.1.24

in funds

31.12.25

£

Unrestricted funds

General fund

203,950

(924

)

203,026

TOTAL FUNDS

203,950

(924

)

203,026

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

74,275

(75,199

)

(924

)

TOTAL FUNDS

74,275

(75,199

)

(924

)

13.	RELATED PARTY DISCLOSURES

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