## 

||Page|
|---|---|
|Trustees'<br>report||
|Report ofthe Independent<br>Auditors||
|Consolidated<br>Statement of Financial Activities|12|
|Group Balance Sheet|13|
|Company Balance Sheet|14|
|Group Cash Flow Statement|15|
|Notes to the financial statements|16|





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## 

|year ended|31stDecember 20|20.|||
|---|---|---|---|---|
|Reference|and administrative|details|||
|Charity number:||1059293|(England|&Wales)|
|||SCO38628|(Scotland)||
|Company|number.|3260031|(England|&Wales)|
|Registered|office:|FIFTEEN Rosehill|||
|||Montgomery|Way||
|||Rosehill Estate|||
|||Carlisle|||
|||CA1 2RW|||
|Principal office:||Kagyu Samye Ling|||
|||Eskdalemuir|||
|||Langholm|||
|||Dumfries<br>&|Galloway||
|||DG13 OQL|||



## 

|||Lama Yeshe|Losal Rinpoche|Losal Rinpoche|
|---|---|---|---|---|
|||John Maxwell|||
|||Ani Lhamo|||
|||Karma Lhamo||Cosgrove|
|||Lama Zangmo|||
|||Tsultim Palbar||Lama|
|Company|secretary:|Sean Michael||McGovem|
|Auditors:||Dodd &Co Limited|||
|||FIFTEEN<br>Rosehill|||
|||Montgomery|Way||
|||Rosehill Estate|||
|||Carlisle|||
|||CA1 2RW|||
|Bankers:||Royal Bank ofScotland|||
|||Lockerbie|||
|||DG132JH|||
|Solicitors:||Brodies|||
|||2 Blythswood||Square|
|||Glasgow|||
|||G2 4AD|||





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|(incorporating<br>income and <br>Forthe Year Ended<br>31 December 2020|expen|diture<br>acco|unt)|||||
|---|---|---|---|---|---|---|---|
||||31.12.20|||31.12.19||
|||Restricted|Unrestricted|Total|Restricted|Unrestricted|Total|
|||||||R|f|
|Income from:||||||||
|Donations<br>and legacies|2|178,353|1,318,407|1,496,760|279,868|581,098|860,966|
|Other trading<br>activities|3|-|237,664|237,664|-|744,991|744,991|
|Investments|4|144|35,865|36,009|355|35,778|36,133|
|Charitable<br>activities|5||470,748|470,748||1,376,373|1,376,373|
|Total income||178,497|2,062,684|2,241,181|280,223|2,738,240|3,018,463|
|Expenditure<br>on:||||||||
|Raising funds||8,539||8,539|11,438||11,438|
|Fundraising<br>trading|||28,194|28,194|2,699|215,710|218,409|
|Charitable<br>activities||94,454|1,438,247|1,532,701|320,339|1,625,348|1,945,687|
|Total expenditure|6|102,993|1,466,441|1,569,434|334,476|1,841,058|2,175,534|
|Net income/(expenditure)||||||||
|Net movements<br>in funds||75,504|596,243|671,747|54,253|897,182|842,929|
|Funds brought forward||9,220,228|19,363,394|28,583,622|9,274,481|18,466,212|27,740,693|
|Funds carried forward|20|9,295,732|19,959,637|29,255,369|9,220,228|19,363,394|28,583,622|





## 

|31December 202|0|0|0||||
|---|---|---|---|---|---|---|
|Company<br>number|-3260031||||||
||||||31.12.20|31.12.19|
|Fixed assets|||||||
|Tangible assets||||10|20,054,079|19,779,846|
|Investment<br>property||||11|478,207||
||||||20,532,286|19,779,846|
|Current assets|||||||
|Other assets||||||478,207|
|Stocks||||12|139,936|151,167|
|Debtors||||13|23,206|30,084|
|Cash at bank and|in|hand|||8,842,526|9,273,845|
||||||9,005,668|9,933,303|
|Creditors: Amounts||falling due within one||14~269,449||411,043|
|year|||||||
|Net current assets|||||8,736,219|9,522,260|
|Total assets less|current||liabilities||29,268,505|29,302,106|
|Creditors: Amounts||falling due after more|||||
|than one year||||15|(12,855)|(718,153)|
|Provisions for liabilities|||and charges|17|(281)|(331)|
||||||29,255,369|28,583,622|
|Funds and reserves|||||||
|Restricted funds||||21|9,295,732|9,220,228|
|Unrestricted<br>funds||||21|19,959,637|19,363,394|
||||||29,255,369|28,583,622|






## 

## 

|Company<br>n|umber -3|260031||||
|---|---|---|---|---|---|
|||||31.12.20|31.12.19|
|Fixed Assets||||||
|Tangible assets|||10|20,052,599|19,778,105|
|Investments|||9|4|4|
|Investment|property||11|478,207||
|||||20,530,810|19,778,109|
|Current assets||||||
|Other assets|||||478,207|
|Stocks|||12|11,264|10,246|
|Debtors|||13|130,523|249,304|
|Cash at bank and in||hand||8,762,625|9,079,422|
|||||8,904,412|9,817,179|
|Creditors:|Amounts|falling due within one|14|~269,421|395,489|
|year||||||
|Net current assets||||8,634,991|9,421,690|
|Total assets less current liabilities||||29,165,801|29,199,799|
|Creditors:|Amounts|falling due after more||||
|than one year|||15|(12,855)|(718,153)|
|||||29,152,946|28,481,646|
|Funds and|reserves|||||
|Restricted|funds||21|9,295,732|9,220,228|
|Unrestricted|funds||21|19,857,214|19,261,418|
|||||29,152,946|28,481,646|






## 

|Group Cash Flow Statement as at<br>31December 2020||||||
|---|---|---|---|---|---|
||||Note|31.12.20<br>f|31.12.19|
|Cash flows from operating<br>activities:|||22|||
|Net cash provided by operating<br>activities||||618,430|759,041|
|Cash flows from investing<br>activities:||||||
|Dividends,<br>interest and rents from investments||||36,009|36,133|
|Proceeds from the sale of property,<br>plant and equipment<br>Purchase of property,<br>plant and equipment||||~358,986|1,175<br>~51,623|
|Net cash used in investing<br>activities||||(322,977)|(14,315)|
|Cash flows from financing<br>activities:||||||
|Cash inRow from new borrowings<br>Repayments<br>ofborrowings||||~726,772|~21,872|
|Net cash used in financing activities||||(726,772)|(21,872)|
|Change<br>in cash and cash equivalents|in the|reporting||||
|period|||23|(431,319)|722,854|
|Cash and cash equivalents<br>at the beginning||ofthe||||
|reporting<br>period|||23|9,273,845|8,550,991|
|Cash and cash equivalents<br>at the end|ofthe reporting|||||
|period|||23|8,842,526|9,273,845|





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|Donations<br>and legacies|||||
|---|---|---|---|---|
|||31.12.20||31.12.19|
||Restricted<br>f|Unrestricted<br>f|Totalf|Totalf|
|Donations|172,592|982,295|1,154,887|641,763|
|Legacies|3,116|336,112|339,228|160,630|
|Stupa ashes|2,645||2,645|12,961|
|Grants||||45,612|
||178,353|1,318,407|1,496,760|860,966|



## 

||||31.12.20||31.12.19|
|---|---|---|---|---|---|
|||Restricted<br>f|Unrestricted<br>f|Total|Totalf|
|Fundraising<br>events|||2,855|2,855|4,971|
|Room hire &|rental income||181,467|181,467|253,501|
|Sales &cafe|income||51,949|51,949|480,105|
|Miscellaneous|income||1,393|1,393|6,414|
||||237,664|237,664|744,991|



## 

||31.12.20||31.12.19|
|---|---|---|---|
|Restricted|Unrestricted|Total|Total|
|f|f|f|f|
|144|35,865|36,009|36,133|
|144|35,865|36,009|36,133|





## 

## 

|Charitable<br>activ|ities|||||
|---|---|---|---|---|---|
||||31.12.20||31.12.19|
|||Restricted|Unrestricted|Total|Total|
||||||R|
|Course fees and|donations|||||
|Spiritual|||15,394|15,394|101,845|
|Health &education|||1,766|1,766|9,609|
|Total course fees and donations|||17,160|17,160|111,454|
|Accommodation|&retreat|||||
|Spiritual|||208,203|208,203|1,029,064|
|Health &education|||245,272|245,272|227,644|
|Total accommodation|||453,475|453,475|1,256,708|
|Spiritual|||||774|
|Other income|||113|113|7,437|
||||470,748|470,748|1,376,373|





## 

## 

|or|the Year Ended 31|December|202|0|||||
|---|---|---|---|---|---|---|---|---|
|6|Expenditure||||||||
||||||31.12.20|||31.12.19|
|||Raising||Fundraising|Spiritual|Health &|Total|Total|
|||funds||Trading||Education|||
|||R|||||||
||Direct costs||||||||
||Purchases|||38|5,936||5,974|18,473|
||Farm &gardens||644||2,262||2,906|20,543|
||Statue costs|5,716|||||5,716||
||Miscellaneous|1,726|||2,099|3,651|7,476|16,529|
||Travel||||6,598|3,352|9,950|18,972|
||Fundraising<br>&publicity||453||13,434|645|14,532|4,891|
||Food &household||||||||
||expenses||||126,685|24,329|151,014|267,229|
||Expenses ofsubsidiary||||||||
||trading<br>activities|||27,844|||27,844|196,913|
||Workshops<br>&sangha||||||||
||costs|||312|||312|21,142|
||Repairs &maintenance||||265,112||265,112|217,651|
||Salaries, allowances|&|||||||
||expenses||||26,107|144,557|170,664|165,673|
||Establishment<br>costs||||205,564|35,102|240,666|283,468|
||Course expenses||||7,052|589|7,641|50,202|
||Donations<br>&||||||||
||sponsorship||||310,461|360|310,821|135,509|
||Projects|||||||252,591|
||Volunteer allowances|&expenses||||3,449|3,449|15,391|
||Total direct costs|8,539||28,194|971,310|216,034|1,224,077|1,685,177|





## 

## 

|Expenditure<br>(continued)|||||||
|---|---|---|---|---|---|---|
||||31.12.20|||31.12.19|
||Raising|Fundraising|Spiritual|Health<br>&|Total|Total|
||funds|Trading|f|Education|f||
|Support costs|||||||
|Office expenses|||44,046|6,702|50,748|57,434|
|Insurance|||91,069|11,525|102,594|94,048|
|Depreciation|||83,553|1,200|84,753|90,038|
|Finance costs|||9,059|7,547|16,606|33,533|
|Fundraising<br>events||||||1,106|
|Repairs &maintenance|||44,562|11,742|56,304|131,705|
|Consumable's|||1,659|57|1,716|7,377|
|Premises costs||||||4,741|
|Sundry|||1,150|2,109|3,259|21,565|
|Subscriptions||||809|809|3,263|
|Motor &travelling|||6,723||6,723|15,405|
|Legal &professional|||5,317||5,317|902|
|Loss on disposal ofassets||||||13,204|
|Accountancy<br>&audit|||15,410|1,118|16,528|16,036|
|Total support costs|||302,548|42,809|345,357|490,357|
|Total expenditure|8,539|28,194|1,273,858|258,843|1,569,434|2,175,534|





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|10|Tangible fixed assets|||||
|---|---|---|---|---|---|
||||Land and|Plant and|Total|
||Group||Buildings<br>f|Machinery<br>f||
||Cost|||||
||At 1 January 2020||20,032,806|992,613|21,025,419|
||Additions||358,986||358,986|
||Disposals|||||
||At 31 December 2020||20,391,792|992,613|21,384,405|
||~De reciation|||||
||At 1 January 2020||593,567|652,006|1,245,573|
||Charge for year||54,774|29,979|84,753|
||Elimination<br>on disposal|||||
||At 31 December 2020||648,341|681,985|1,330,326|
||Net BookValue|||||
||At 31 December 2020||19,743,451|310,628|20,054,079|
||At 31 December 2019||19,439,239|340,607|19,779,846|
||Company||Land and|Plant and|Total|
||||Buildings<br>f|Machinery<br>f|f|
||Cost|||||
||At 1 January 2020||20,032,806|947,870|20,980,676|
||Additions||358,986||358,986|
||Disposals|||||
||At 31 December 2020||20,391,792|947,870|21,339,662|
||~De reciation|||||
||At 1 January 2020||593,567|609,004|1,202,571|
||Charge for year||54,774|29,718|84,492|
||Elimination<br>on disposal|||||
||At 31 December 2020||648,341|638,722|1,287,063|
||Net BookValue|||||
||At 31 December 2020||19,743,451|309,148|20,052,599|
||At 31 December 2019||19,439,239|338,866|19,778,105|
|11|Investment<br>property|||||
|||Grou||Com|an|
|||31.12.20<br>f|31.12.19<br>f|31.12.20<br>f|31.12.19<br>f|
||At 1 January 2020|||||
||Transfer|478,207||478,207||
||At 31 December 2020|478,207||478,207||





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|Stocks||||||
|---|---|---|---|---|---|
|||Grou||Com|an|
|||31.12.20<br>f|31.12.19<br>f|31.12.20<br>f|31.12.19<br>f|
|Goods for resale||139,936|151,167|11,264|10,246|
|||139,936|151,167|11,264|10,246|
|Debtors||||||
|||Grou||Com|an|
|||31.12.20<br>f|31.12.19<br>f|31.12.20<br>f|31.12.19<br>f|
|Amounts|owed by group undertakings|||107,384|219,220|
|Other debtors||23,206|30,084|23,139|30,084|
|||23,206|30,064|130,623|249,304|



## 

## 

|||||Grou||Com|an|
|---|---|---|---|---|---|---|---|
|||||31.12.20<br>f|31.12.19<br>f|31.12.20<br>f|31.12.19<br>f|
|Bank loans &overdrafts|||||25,734||25,734|
|Trade creditors||||4,684|16,136|4,684|15,286|
|Taxation|&social|security||17,340|66,196|17,310|51,492|
|Other creditors||||243,165|298,717|243,167|298,717|
|Deferred|income|||4,260|4,260|4,260|4,260|
|||||269,449|411,043|269,421|395,489|
|Grou<br>and Com||an||||||
|Deferred|income|brought|forward|4,260||||
|Released|to income during year|||(4,260)||||
|Deferred|in year|||4,260||||
|Deferred|income|carried|forward|4,260||||



## 

||Grou||Com|an|
|---|---|---|---|---|
||31.12.20<br>f|31.12.19<br>f|31.12.20<br>f|31.12.19<br>f|
|Bank loans||701,038||701,038|
|Deferred income|12,855|17,115|12,855|17,115|
||12,855|718,153|12,855|718,153|
|Analysis ofloans|||||
|Payable by instalments:|||||
|Due after five years||582,164||582,164|





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|Funds|||||
|---|---|---|---|---|
||Balance at|Incoming|Outgoing|Balance at|
|Group|1.1.20|Resources<br>f|Resources<br>f|31.12.20|
|Restricted funds|||||
|The Samye Project|4,739,361||(3,292)|4,736,069|
|Holy Isle Project|3,784,234|||3,784,234|
|Dolma Lhakhang<br>Monastery|324,904|130,333|(2,033)|453,204|
|Other restricted<br>funds|371,729|48,164|97,668|322,225|
|Total restricted funds|9,220,228|178,497|(102,993)|9,295,732|
|Designated<br>funds|||||
|Religious teachers fund|84,000|||84,000|
|Unrestricted<br>funds|19,279,394|2,062,684|(1,466,441)|19,875,637|



|Group|||||
|---|---|---|---|---|
||Balance at|Incoming|Outgoing|Balance at|
||1.1.19|Resources|Resources|31.12.19|
|||R||K|
|Restricted funds|||||
|The Samye Project|4,743,234||(3,873)|4,739,361|
|Holy isle Project|3,784,234|||3,784,234|
|Dolma Lhakhang<br>Monastery|412,155|167,834|(255,085)|324,904|
|Other restricted<br>funds|334,858|112,389|75,518|371,729|
|Total restricted funds|9,274,481|280,223|(334,476)|9,220,228|
|Designated<br>funds|||||
|Religious teachers fund|84,000|||84,000|
|Unrestricted<br>funds|18,382,212|2,738,240|(1,841,058)|19,279,394|





## 

## 

|Funds||||||
|---|---|---|---|---|---|
|||Balance at|Incoming|Outgoing|Balance at|
|||1.1.20|Resources|Resources|31.12.20|
|Company||||||
|Restricted funds||||||
|The Samye Project||4,739,361||(3,292)|4,736,069|
|Holy Isle Project||3,784,234|||3,784,234|
|Dolma Lhakhang<br>Monastery<br>Other restricted<br>funds||324,904<br>371,729|130,333<br>48,164|(2,033)<br> ~97,668|453,204<br>322,225|
|Total restricted funds||9,220,228|178,497|(102,993)|9,295,732|
|Designated<br>funds||||||
|Religious teachers|fund|84,000|||84,000|
|Unrestricted<br>funds||19,177,418|3,554,895|(2,959,099)|19,773,214|
|||28,481,646|3,733,392|~3,062,092|29,152,946|
|Prior year funds||||||
|Company||||||



|Company|||||
|---|---|---|---|---|
||Balance at|Incoming|Outgoing|Balance at|
||1.1.19|Resources|Resources|31.12.19|
|Restricted funds|||||
|The Samye Project|4,743,234||(3,873)|4,739,361|
|Holy Isle Project|3,784,234|||3,784,234|
|Dolma Lhakhang<br>Monastery<br>Other restricted funds|412,155<br>334,858|167,834<br>112,389|(255,085)<br> ~75,518|324,904<br>371,729|
|Total restricted funds|9,274,481|280,223|(334,476)|9,220,228|
|Designated<br>funds|||||
|Religious teachers fund|84,000|||84,000|
|Unrestricted<br>funds|18,333,329|2,493,101|(1,649,012)|19,177,418|
||27,691,810|2,773,324|~1,983,488|28,481,646|





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|Net assets by fund|||||
|---|---|---|---|---|
||Restricted|Designated|Unrestricted|Total|
|Group|funds|funds|funds|funds|
|||F|||
|Fixed assets|7,851,318||12,202,761|20,054,079|
|Investment<br>property|||478,207|478,207|
|Current assets|1,444,414|84,000|7,477,254|9,005,668|
|Creditors due within one year|||(269,449)|(269,449)|
|Creditors due after one year|||(12,855)|(12,855)|
|Provisions for liabilities|||||
|and charges|||281|281|
||9,295,732|84,000|19,875,637|29,255,369|
|Prior year net assets by fund|||||
|Group|Restricted|Designated|Unrestricted|Total|
||funds|funds|funds|funds|
|Fixed assets|7,857,800||11,922,046|19,779,846|
|Current assets|1,362,428|84,000|8,486,875|9,933,303|
|Creditors due within one year|||(411,043)|(411,043)|
|Creditors due after one year|||(718,153)|(718,153)|
|Provisions for liabilities,|||||
|and charges|||331|331|
||9,220,228|84,000|19,279,394|28,583,622|





## 

## 

|21|Net assets by fund (continued)|||||
|---|---|---|---|---|---|
|||Restricted|Designated|Unrestricted|Total|
||Company|fundsf|fundsf|fundsf|fundsf|
||Fixed assets|7,851,318||12,201,285|20,052,603|
||Investment<br>assets|||478,207|478,207|
||Current assets|1,444,414|84,000|7,375,998|8,904,412|
||Creditors due within one year<br>Creditors due after one year|||(269,421)<br>12,855|(269,421)<br>~12,855|
|||9,295,732|84,000|19,773,214|29,152,946|
||Prior year net assets by fund|||||
|||Restricted|Designated|Unrestricted|Total|
||Company|fundsf|fundsf|fundsf|fundsf|
||Fixed assets|7,857,800||11,920,309|19,778,109|
||Current assets|1,362,428|84,000|8,370,751|9,817,179|
||Creditors due within one year<br>Creditors due after one year|||(395,489)<br>718,153|(395,489)<br>~218153,|
|||9,220,228|84,000|19,177,418|28,481,646|





## 

## 

|22|Reconciliation<br>of net income/(expenditure)|Reconciliation<br>of net income/(expenditure)|to net cash|flow from operating<br>activities||
|---|---|---|---|---|---|
|||||2020|2019|
||Net income/(expenditure)<br>for the <br>(as per the statement offinancial|reporting<br> activities)|period|671,747|842,929|
||Adjustments<br>for:|||||
||Depreciation|||84,753|90,038|
||Dividends,<br>interest and rents from|investments||(36,009)|(36,133)|
||Loss/(Profit)<br>on sale offixed assets||||13,204|
||(Increase)/decrease<br>in investment|assets||(478,207)||
||(Increase)/decrease<br>in other assets|||478,207||
||(Increase)/decrease<br>in stocks|||11,231|(5,677)|
||(Increase)/decrease<br>in debtors<br>Increase/(decrease)<br>in creditors|||6,878<br>~120,170|(7,637)<br>137,683|
||Net cash provided<br>by operating|activities||618,430|759,041|



## 

|Changes<br>in net debt||||
|---|---|---|---|
||||At 31|
||At 1January||December|
||2020|Cash flows|2020|
|||R||
|Cash and cash equivalents||||
|Cash|9,273,845|(431,319)|8,842,526|
|Borrowlngs||||
|Debt due within one year<br>Debt due after one year|(25,734)<br>~701,038|25,734<br>701,038||
||726,772|726,772||
|Total|8,547,073|295,453|8,842,526|