APPROVAL Rokpa Trust Consolidated Financial Statements 31 December 2023 IIIIM •ADBY7GMA• 1910912024 COMPANIES HOUSE A27
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Rokpa Trust Contents for the year endlng 31 December 2023 Page Trustees, report Report of the Independent Auditors Consolidaled Statement of Financial Activities 13 Charity Statement of Flnancial Activilies 14 Group Balance Sheet 15 Company Balance Sheet 16 Group Cash Flow Slatemenl 17 Notes to the financial statements 18
Rokpa Trusl Report of the Trustees and Directors for the year ended 31 December 2023 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 st December 2023. Reference and admlnislrative delails Charity number.. 1059293 (England & Wales) SC038628 (Scotlandl Company number: 3260031 (England & Wales) Registered office.. FIFTEEN Rosehill Montgomery Way Rosehill Eslale Carlisle CAI 2RW Principal office.. Kagyu Samye Ling Eskdalemuir Langholm Dumfries & Galloway DG13 OQL Dlreclors and trustees The directors of the charitable company Ilhe charity) are its Irustees for the purpose of chariiy law and Ihroughout this report are collectively referred to as the trustees. The Iruslees serving during the year and since Ihe year end were as follows Abbot Lama Yeshe Losal Rinpoche John Maxwell Ani Lhamo Karma Lhamo Cosgrove Lama Elise Kristine Sylvest Jacobsen Tsultim Palbar Lama Company secretary.. Sean Michael McGovern Auditors.. Dodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate Carlisle CA1 2RW Bankers.. Royal Bank of Scotland 151 High Slreet Dumfries DG1 2RA Solicitors.. Brodies 2 Blyihswood Square Glasgow G2 4AD Page 1
Rokpa Trust Report of the Trustees and Direclors for Ihe year ended 31 December 2023 conllnued Slructure, Governance and Management The financial statements have been prepared in accordance with the accounting policies set out in noles to the accounts and comply with the charily's governing document, the Chaiilies Act 2011 and Accounting and Reporting by Charilies.. Stalement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland. Gov rnin Documenl Rokpa Trust is a cornpany limited by guarantee and governed by its Memorandum arKI Article5 of Association dated 1 sl January 1997. It is registered with the Charity Commission in England and Wales and Ihe Office of the Scottish Charily Regulalor. In the event ot the company being wound up members are required lo contribule an amount nol exceeding £10. ointment ol Trustees The Articles ol Association provide that the trustees are appointed by spiritual leaders of the Karma Kagyu order ol Tibetan Buddhism. Newly appointed Iruslees are given induclion training depending on their level of experience and all trustees are offered ongoing training as appropriate. ani ati lure The oiganisation is divided inlo a number of branches, which carry out the work of the Trust. The main branch, Kagyu Samye Ling provides teaching support and guldance, gives administrative assistance and acts as head office lor the organisation. The trusle&s are responsible lor the overall management and control ol the charity and receive reports Irom the branches. committees, which include at least one ol Iheir number on each. Day lo day management ol the charity duiing 2023 was delegated lo the company secretary, Sean McGovern. k Mana ern The Iruslees have a risk management strategy. Th55 comprlses ol an annual review of risks the charity may lace and the establishment of syslems and procedures lo mitigate those risks. Two key areas are heallh & safely, and the setting ol a reserves policy and its regular review by trustees. There are Iwo subsidiary ifading companies as part ol the Rokpa Trust Group. being Rokpa Developments Ltd and KSDL Trading Ltd. Objectives and aellvities The Trust's primary objects, as slated in ils Memorandum of Association are: 1. To promote the 8uddhist religion and loster non-sectarian inter-religious dialogue and understanding. 2. To provide medical care and therapy. 3. To provide education. 4. To relieve poverty. Rokpa Trust can Irace its origins in the UK back lo 1963, when two young Abbo15, who had left Tibel came to Oxford and a lew years laler sellled in Eskdalemuir, Scolland, establishing the first Tibetan Buddhist Centre in the West. They named il Samye Ling alter Ihe first Buddhist monastery in Tibet and this was the beginning of the Cenlre, which has grown over some 50+ years to become a renowned inslllulion for Ihe study and practice ol Buddhism. The aims of the charity fall into three areas-. spiiitual; health and education., and the relief of poverty. The charity seeks to help improve education and relieve poverty. The chaiily also seek5 10 expand the understanding of Buddhism. Continue Page 2
Rokpa Trust Report ol the Trustees and Directors for the year ended 31 December 2023 continued The Trustees receive reports from all parts of Rokpa Trust and meet annually with volunteers who manage our ditterenl branches. This enables th8 Board ol Trustees to review each aspect ol the charitable aims to asse55 the number ol beneficiaries Ihat have been assisted in each of these areas and the ways in which they have benefited from Ihe work ol the organisalion. Along with the financial information produced in the year end linancial statements, this is the main measure of the charity's success. To achieve the first of its charitable objedives thg Trust has established a number ol Tibetan Buddhist Cenlres in the Uniled Kingdom, the most notable being the Kagyu Samye Ling Monastery and Tibetan Centre where a Buddhist temple has been built. In addition Holy Isle, on the West Coast ol Scotland, has been acquired by.lhe Trust and has now developed into a place for retreats for Buddhists and people ol all faiths. To achieve its charitable objective of relieving povety, Rokpa Trust has tor many years run projects to feed homeless and poor people in various cities in the United Kingdom. Some money is also raised lo be sent to projects abroad. The organisation is based on volunteer involvement with only a few paid posts in areas of management and administration at Lolhlorien, whose remuneration is set by the Board ol Trustees. It is highly d8pendenl on the many unpaid volunteers who give their lime lo ils work and ils projects. The energy and pure commitment that they bring to the organisation is at the very heart of the woilf ol Rokpa Trust. In detefmining the objectives the tfuslees have paid due regard lo Charity Commission guidance on public benefit. The charity is aware ol the increasing risk of banking and credit caid fraud and règularly advise all users of online laeililies on the bèst strategies lo employ. The r8PUtalion ol the charity is very important and so all attempts are made lo minimise risks in this respect. The Trustees and local groups meet regularly lo review all policy documents. All insurances ar8 reviewed as the situation demands and updated as necessary. Achlevements and performance Kagyu Samyo Llng Monastery and Tibetan Cenlre Buddhist activities have signilicanlly increased since the end of the Covid pandemic. We are happy to rewrt that the following teachings took place at Samye Ling during 2023.. Throughout 2022 and up until May 2023 we received regular Iransmissions, saveral times per week, from th8 Venerable Khenchen Thrangu Rinpoche {onlinel 14- 25 January: Daily leaching by His Holiness I Ph Karmapa on the 30 Verses on the Mind Only School {online} 30 January-1 February 2023- Daily leaching by His Holiness 171h Karmapa- Teaching on the Life and Liberation of Atisha (online) 2 April-29 April 2023- Daily teaching by His Holiness 17th Karmapa.. 7th Arya Kshema Spring Teachings lonlinel= Mikyo Dorje's Aulobiogiaphical Verses 15 April 2023.. Tulku Pasang Rinpoche - Green Taia Initiation 18 April- 5 May 2023: His Holiness 1 Ph Karmapa.. Arya Kshema Spring Teachings lonline}: Mikyo Dorje's Autobiographical Verses 25126 May 2023.. Lama Yonten and Lama Rigzin - Blessing ol Ashes Ceremony - 27 May- 2 June 2023.. 3rd UK Kagyu Monlam- Drupon Khen Rinpo¢he gave two daily teaching sessions on A String of Pearls - Gampopa's Community Teachings Continue(fl Page 3
Rokpa Trust Report ot the Trustees and Olroctors tor the year ended 31 December 2023 contlnued 3 Juno oo_.. Lama Yeshe Losal Rinpoche- RFtli IOA ewerfimnny 17-18 June 2023: Ringu Tulku- The Four Limitless Conlemplalions 24 Jun8 2023.. Khenpo Lekthong - Negativity. positivity and reality ol Buddhism 7 July 2023 onwards.. Deputy Abbot Lama Kalen gave weekly leaching 9 July 2023 onwards.. Lama Kalen gave daily teaching of Tibetan 12.20 August 2023: Lama Zangmo - Summer Retreat on Dorje Chang Tungma 22 August- 17 Septemb8r 2023.- Khenpo Lekthong - Ratnakuta Sutra and Ornament of Mahayana Sutras 15 October 2023= Meditation practice retreat in honour ol the anniversary ol our Founder Akong Tulku Rinpoche's passing. Daily teachings by Drupon Khen Rinpoch8. 17 Oclober 2023: Refuge ceremony wlh Abbot Lama Yeshe Losal Rinpoche During the ¢ourse of 2023 the following projects were undertaken and completed.. In oor Refurbished Anis. House bathroom Relurbished 'disabled' bathroom in Potala House Insulated under the floor in Polala House Redecorat8d Tashi Deleg House Craaled axtra accommodation {two large rooms) in Tashi Del8g House Adapted hol water systems lo be more efflclenl Sorting out Library- slill ongoing door ReplaGed and re-located rnain gas lank so it is now lully compliant Felled l¥e8s in the area surrounding the lank then landscaped it and planted with flowers Exlendad fruil-lree planting at Samye Ling and al Puielands Planled vegetables on new ground next lo the Tara Gaiden Extended flower-planling along riverside Replaced fencing in Akong Memorial Garden with stone walling Extended green-house space The key financial review points are as lollows.. We have negolialed a more favourable eleclri¢ity contract We are saving a significant sum ol money by growing our own vegetables We are consolidating bookings to reduce healing bills We are shutting down some guest accommodation over the wintér to reduc8 heating costs We have re-negolialed our insurance policy in a way that is much more favourable in terms ol cover and c051. Shop sales as part of Flokpa Developments have significantly increased since the end of the pandemic. We have redesigned the shop and added new displays. We have ro-slockod il with the most popular items and quality products plus new 'lines'. Kagyu Samye Dzong London Kagyu Samye Dzong Tibetan Buddhist Centr8 first opened In April 1998 and offers a peaceful and welcoming environmenl in our cenlie in central London. They run a piogramme of courses and workshops focusing on. medilation, Buddhisrn, and holislic iherapies, in Berrnondsey, near the heart ol central London, and also provide venues lor community activities and alternative praclilioner5 a5 well as a qualilied Tibetan doctor who holds regular clinics whar8 patients receive treatment using traditional Tibetan methods. Continuedl Page 4
Aokpa Trust Report of the Truslees and Directors lor Ihe year ended 31 December 2023 continued Th8 cenlre is closely connected lo Kagyu Samy8 Ling Mona51ery in Scotland, which was eslabllshed In 1967 and is under the direct guidance ol Choje Lama Yeshe Losal Rinpoche. As part ol the Kagyu Iradilion, one ol the four main schools ol Tibetan Buddhism, headed by His Holiness the 171h Gyalwang Karmapa Orgyen Trinley Dorje. the centre looks lo offer a eonslanl programme ol Buddhist teachings, meditation retreats and meditation inslruclions, as well as provlding a place of calm lor Buddhlsis and non-Buddhists alike. Lama Gelongma Zangmo is the resident lama and lea¢her at our London blanch. There is a lovely Tibetan Tea Room and Comfortable seating to enjoy a moment of relaxation. There is also a shop ottering a wide selection ol Buddhist books from all Iradilions. and a variety of related items, such as in¢ense, meditation cushions, slalues, and malas. Kagyu Samy• D2¢)ng Edlnburgh After many years KSD Edlnburgh Is now well-eslabllshed in the capital city. In 2016 they bought a building in Leilh and hav& now moved there. The n8w Cenlre. with ils beautiful, domed Shfine Room and spacious Yoga Room, provides the Ideal space for a wlde range ol h•aiih.givlng aclivilies lo benefit body and mind. Kagyu Samye Ozong Glasgow From the early 1980's. a group ol people mel In the Glasgow area lo study and practice the Ohaima and lo work towards havlng their own bas8 In the area all under th• auspices ol Samye Llng Monaslery and Tlb8lan cenlie near Eskdalemuir in the Borders. The property al 7 Ashley Street Ilormerfy known as Rokpa Housel was purchased in May 2000, and work began lo upgrade the rooms for use. 11 was finally inaugural8d in March 2001 by the Foundiw President ot Rokpa Trusi. and co-loundgr of Samye Ling, Dr Akong Tulku Rinpoche. A semi.prolessional kitchen was installed in the basement lo provide soup lor Ihe homeless and hungry in Glasgow. The ReceplSon and Offlce Is open on weekdays Irom 11 am lo 1 pm, when any vlsliors are welcomed, and any phone messages acliongd. 80th the Llbrary and Shop are also open on weekdays liom 11am lo 1pm, and on some W88kènd8 by prlor arrangemènt. Everything Ihal happens al Kagyu Samye Dzong Glasgow is due entirely lo the efforts ol ils volunteer staff. Kagyu Samye Dzong Scarborough In June 2013 Scarboiough Borough Councll voled lo transfer Ihe beautiful, hlsloric building Londesborough Lodge lo Rokpa Trusl. as a Community Asset Transfer. The locus has been on the 18generailon ol Ihis sile, reslorlng il io Its orlglnal splendour and cultural sLonilicance. and openlng il as a centre lor the health and wellbelng ol th8 community. The main lunclion ol the centre is 10 provid8 medilalion and ¢ompas$ion-based mindluln¢ss classes and retreats lor both Buddhists and non-Buddhlsls alike, as well a$ health and wellbelng servlces with community outreach. Other Kagyu Samyo Dzong$ These Cenires ar¢xJnd Ihe UK range in size from small gioups meeling in pèople's homes. lo the larger cenires wilh their own proFerties. In 2023 there were Cenires in the Scottish Highlands, Surrey. and Cardiff. Lolhlorlen Lolhlorlen Is a Ihefapeulic community lor people wilh menial health problems, situated in a qu181 rural selllng In Soulhwesl Scoiland. The community consists ol residents with mental health problems and voluntary co.workers, living in the 13 bedroomed main house and a further 5 people living in Roan Lodge, the adja¢enl move-on house. The staff, known as the Core Group. come in on weekdays. As a Iherapeulic community, Lothloiien aims lo help people to develop their strengths and woik lowards recovery through Ihe shaied experience ol community life. Lolhlorien differs from the usual approach lo residential care by aiming lo minimise the dislinelions befvieen Slatt, volunteer5 and residents and lo avoid the division between those who are 'well' providing care lor those who are 'unwell', Instead, they aim lo create a culture ol mutual support, which lacililales people in developing their strengths and allows them lo see themselves as having something lo ofler as W811 as having something lo gain Irom community Ille. The weekly progiamme is mainly focused on organic vegetable gaidening and outdoor work. It also includes relaxation groups based on Tara Rokpa Therapy, artwork and Qigong. Conlinuedl Page S
Rokpa Trusl Report of the Trustees and Directors for the year ended 31 December 2023 continued Helping the Homeless In the UnSted Kingdom Rokpa Trust continues to provide tood and other necessit18s to the homeless in Glasgow and London. This was interrupted during the Covid pandemic bul resuméd in early 2021 and has continued lo the dale of this report. ProJectg Cedarpeak Prolecl In South Alri¢8 The trustees ol Rokpa Trust U.K. are supportlV8 of Rokpa Trust South Africa collat<Jraling with the Vision Corporation SA CC in forming Public Benefit Organisalion {PBOI at Cedarp8ak Nature ReseNe near Cape Town. The principal objective of this PBO will be lo conserve and protecl the naluial environment. Buddhism has always been closely linked lo practising in natural, secluded environmenls and protecting and conserving the environment. A Labrang {an institution lor the promotion ol Buddhism. medical care, Iheiapy and education and the relief ol poverty) has now been built on a d8signal8d plot in the Cedarpeak FleseNe and Ihis is directly concerned with the promotion of Buddhism. The trustees ol Rokpa Trust U.K. are satisfied that the project to build the Labrang, which they have finished, is entirely consislenl with th8iT own objectives in respect ol Ihe furtherance o18uddhism. Kenglngton Temple Project Rokpa Trust U.K. is collaborating with Rokpa Trust SA In bullding a Buddhist temple on land owned by Rokpa Trusl South Africa in Kensington in Johannesburg. The prolecl will be financed by Rokpa Trust U.K. and built, maintained and administered by Rokpa Trust South Africa. Th8 key objectives ol both trusts are th8 sam8 in r8specl of th8 building and maintaining ol slvdy cenlres, monasleiies, nunnefies and temples. as well as beneliling and alleviating the suffering of the poor and underpfivileged, the aged, the sick and the needy by the provision ol shelter, refuge, facilities, food, clothing and m8dicines.11 is particularly noled Ihal there is severe povety in the area of Kensington in Johannesburg and the temple will be used as a base lor feeding homeless people and for the general relief ol poverty. 11 is also noted that there is inadequate local provision for m8dical care, therapy and education in this afea. It is agreed that the temple will be used for these charitable puiposes in order to lulfil the objectives ol both trusts. Rokpa Developments Llmited Rokpa Developments. a wholly owned subsidiary ol Rokpa Trust, runs a shop and cafe. The shop offers goods Irom overseas as well as i18ms made al Samye Ling. The cale offers variety of food and drink and is vefy popular th visitors. Rokpa Developments is committed to donate £72,956 liom Ils prolit lo Rokpa Trust by way ol gift aSd. KSDL Tradlng Llmlted KSDL Trading Limited, which runs the shop an¢J cafe in London, started Irading in 2019. KSDL Trading Limited is committed to donate £19,525 from its profit foi Ihe year to Rokpa Trust by way of gift ard. Conlinuedl Page 6
Rokpa Trust Report ot the Tru$tees and Directors lor the year ended 31 December 2023 continued Flnancial Review The Iruslees continue to lodge a significant amount of Rokpa Trust capital reserves on the Insignis cash platlorm which has the Iwin benefit of offering stronger FSCS protection whilst also otfering higher interest rates on our savings. Furthermore. see 'key financial review points, under the Samye Ling ieport as ab)ve. Rgserves pollcy The Trustees, reserve5 policy is lo maintain a sum equivalent to one year's core costs as a minimum lo enable the charity lo Continue operating during times of unforeseèn financial demands or in the evènl ol a shortfall in donations. Since the passing of Akong Rinpoche there has been a decline in offerings received and in the number of his students making bequests to the Trust. In addition, the current climale of ongoing economic pressuie and uncertainty makes it diff icull lo predict in¢orne levels. For all ol these reasons il is more important than ever for the Trust lo maintain a iobust level ol resetves to 8nsure ils operational continuity. Al the year-end reserves totalling £28,294,911 were held by Rokpa Trust. Of these resèrves £977,985 ar8 18slricte(I and £84.000 are designated. £6,643,322 ar8 classified as Yree r8serves' and ihergfore the reseNes policy has been met duiing the year. The 18serv8s over and al)ove those ne8d8d to meet the core costs are being held to fund, inler alia: 11 a number ol d&cades-long projects to which the Trust Is committed Ilinding and training the next Akong Rinpoch8', the long-lerm maintenance ol his Monastery in Tib81' supporting sangha members entering lite-long relreatl,. and 21 a number of shorter-term but costly 'one-off' projects. These include the renovation of gugsl-house accommodation lo meet current standards ol insulation and comfort, and the development of solar and wind projects, which will lacililale the Trust's migration lo environmenlally-friendly energy sources more in keeping with ils Buddhist elhics and the vision ol ils founder, Akong Rinpoche. Plans lor future perlods By 2023 Samye Ling and the Branchès were fully open and enjoying increasing activity in terms ol visitors, guest5 and course participants. For 2024, Samye Ling is organising a very full programme of Dharma activities, including extended teachings by learned and experienced Buddhist scholars from India and Nepal. Thère are plans al Samye Ling and Holy Island to increase our organic vegetable garden production, lo feed our guests and resident volunteers. Al Samye Ling plans ar8 undèrway to develop a large array of solar pan81s to reduce the Trust's reliance on fossil luels and lo generate cleanei, sustainable energy. Trustees, responslbllltles in relation io the financial statements Company law requires the tnJsl8es, as directors, to prepare linancial stalemenls for 8ach linancial period which give a true and lair view ol the slate ol the attairs and of the surplus or deticil of the company tor that period. In preparing those financial slalemenls the Iruslees ale required lo select suitable accounting policies and then apply them consistently, make judgements and estimales that are reasonable and prudent and slate whether applicable accounting stsndards have been lollowed, subject lo any material departures disclosed and explained in th8 financlal stalemenls. and prepare the financial statements on the going Concern basis unle55 11 is inappropriate to presume that the company will continue in operational existence. The trustees are responsible lor maintaining suitable accounting records which disclose with reasonable accuracy al any lime the linancial position ot the company and lo enable them to ensure that the linancial slatements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the company and hence for taking reasonable steps for the prevention and Oetection ol Iraud and other iiiegularilies. Continuedl Page 7
Rokpa Trust Report of the Truslees and Directors for Ihe year ended 31 December 2023 contlnued In accordance with company law, as company direclors, we certify that so tar as we are aware there is no relevant audit information of which the company's auditors are unaware. We further certify that we have taken all Ihe steps that we ought to have laken in order to make ourselves aware of any relevanl aud¢t information and lo establish that the charity's auditors are aware of that information. Audilors A resolution will be proposed al the Annual General Meeting that Dodd & Co Audit Limited be re- appointed as auditors of the chariiy for the ensuing year. On behalf of the board Dale.. IS loi* Lama Yeshe Losal Rinpoche Page 8
Independent Auditor's Report to the Members and Trustees of Rokpa Trus1 for the year ending 31 Decernber 2023 Opinion We have audited the financial slalements ot Rokpa Trust lor the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Charity Statement of Financial Activities. the Charity Balance Sheet, the Consolidated Balance Sheet, the Consolidaled Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of lieland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial statements= give a true and lair view ol the state ol the group's and parent charitable company's aflairs as al 31 D8C8mb8r 2023 and ol the group's income and 8XP8ndilure lor the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 as amended by the Charities Act 2022, the Charities and Trustee Investment IScotland} Act 2005 and regulation 8 01 the Charities Accounts (Scollandl Regulations 2006 las arnendedl. Basis for opinion We conducted our audit in accordance with Inlernalional Standards on Auditing IUKI (ISAS (UK)) and applicable law. Our responsibililles under those standards ale further described in th8 Auditor's responsibilities lor the audit of the financial slalemenls section of our rgport. We are independ8nl ol the Charity in accordance with the ethical requirements that are ielevanl to our audit ot the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available lor small enlilies, in the circumstances sel out in nol8 1 to the financial stalemenls, and we have lultilled oui other ethical responsibilities in accordance with thèse requirements. We b81ieve that th8 audit evidence we have obtained is sufflcienl and appropriate lo provide a basis lor our opinion. Concluslons relatlng io golng concern In auditing the financial statements. we have concluded that the members use of the oolng concern basis of accounting in the preparation ol the financial statements is appropriate. Based on the work we have preformed, we have not identified any rnalerial uncertainties relating to the 8vents or conditions that, individually or collectively. may cast significant doubl on the charity's ability lo continue as a going concern lor a period ol at least bvelve months from whèn the original financial statements were authorised lor issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern ar8 described in the relevant sections of the report. Olher Inlormatlon The trustees are responsible for th8 other information. The other information comprises the inlormalion includ8d in the annual report other than the financial slalemenls and our audiloi's report thereon. Our opinion on the financial stalemanls does not cover the other information and, except lo thè èxtènt othèrwise explicitly staled In our report, we do not express any form ol assurance conclusion Ihereon. In connection with our audit ol the financial slaternents, our responsibility is to read the other information and, in doing so, consider whether the other inlormation is materially inconsistent with the linancial stalemenls or our knowledge obtained in the audit or otherwise appears to be materially misskted. Page 9
Independent Auditor's Report to the Members and Trustees of Rokpa Trust for the year ending 31 December 2023 If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial slalements or a material misstatement of the other information. If, based on the work we have pèrformed, we conclude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing to report in this regarfl. Opinlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken In the course ol the audit.. the information given in the Iruslees, report lincorporats'ng the strategic report and the directors, report) lor th8 financial year for which the financial statèments ale prèpared is consistent with the financial statements. and the trustees. report (irorporating the strategic rewrt and the directors. report) have been prepared in accordance with applicable legal requirements. MAtters on which we are required to report by exceptian In the light ol the knowledge and understanding ol the Charity and ils environment obtained in the course of the audit. we have not identified material misslalemenls in the Trustees, Annual Report. We have nothing lo report in respect of the following matters in relation lo which the Companies Act 2006 requiies us lo report to you il. in our opinion- adequate accounting records have not been kept or relums adequate lor our audit have not been received Ifom branches nol visited by us; the financial statements are not in agreemenl with the accounting records an¢J returns. certaln dlsclosur8s ol trustees, remuneration specified by law are not made., or we have not obtained all the informalion and explanations necessary lor the purposes ol our audit. Our objectives are to obtain r8asonabl8 assuranc8 about whether th8 flnancial sla18ments as a whole are Ir88 from material misslalement. wheiher due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonab18 assurance is a high level of assurance. bul is not a guarantee thal an audit conducted in accordance with ISAS IUKI wll always delecl a material misstatement when il exists. Misstatements can arise from liaud or error and are considered material, il individually or in aggregate, they could reasonably be exp8cled to influencè the economic decisions of users taken on the basis of these financial statements. A lurther description of our responsibilities lor the audit ol the financial slatèmenls is located on the Financial Reporting Council's website at www.Irc,org,uklaudilorresponsibilities, This description lorms part ol our auditors report. Responslbllltles ol Ihe trustees As explained mole lully in the trustees, responsibilities slalemenl set out on page 7, Ihe Iruslees are responsible for the preparation ol the financial statements and for being salisfied that they give a Irue and lair view, and lor such internal control as they determine is necessary lo enable the preparation of financial statements that are fr88 Ifom material mi5slatement. whether due lo fraud or error. Page 10
Independent Auditor's Report to the Members and Truslees ol Rokpa Trusl lor Ihe ye8r ending 31 December 2023 In piepaTing the financial statements, Ihe Iruslees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related lo going conc8rn and using the going concern basis ol accounting unless the trustees either intend lo liquidate the Charity or lo Cease op8rations. or have no realistic allernalive bul lo do so. Our responsibilities for Ihe audit ot the Ilnanclal statements We identify and assess Ihe risks ot material misstalemenl ol the financial statements, whether due to fraud or error. and then design and perform audit procedures fesponsive lo those risks, including obtaining audit evidence that is sufficient and appropriate lo provide a basis for our opinion. In idenlilying and assessing Tisks ol material misslalemenl in respect ol irregularities, including fraud and non- compliance with laws and regulations, we considered Ihe following: r8sulls of our enquiries of management about their own identifi¢alion and assessment of the risks. of irregularities- any matters w8 idenlili8d having obtained and reviewed the ¢harily'S documentation of their policies and procedure5 relating to.. idenlilying, evaluating and complying with laws and regulations and whether they are aware ol any instances ol non-compliance: detecting and responding to risks ol fraud and wh8th8r they have any knowledge of any actual. suspe¢led or all8ged liaud., the internal controls established lo miligale risks of fraud oi non-compliance w*lh laws and regulations; the matters discussed among the audit team regarding how and where fraud might occur in the linan¢ial statements and any potential indicators ol fraud. As a result of thesè procedures, we consideied the opportunities and incentives that may exist within the organisalion lor fraud and identified the greatest potential lor fraud lo be in relation to management override which, in common with all audits under ISAS {UKI, we are requir8d to perform specific procedures to respond to this risk. We also obtained an understanding ol the legal and regulatory framework that th8 company"operaleg in, focusing on provisions ol those laws and regulations that had a direct ellecl on the delerminalion ol material amounts and disclosures in the financial statements. The key laws and regulallon5 we consid8red this context included the Charities and Trustee Investment (Scollandl Act 2005 and regulallon 8 01 the Charities Accounts (Scollandl R8gulations 2006 las amendedl and the Compani9s Act 2006. As a result ol pertorming the above, in response lo the rislfs idenlilied, we did not identily any key audit matters r81aled lo the polential risk ol fraud or non.compliance with laws and regulations. In addition lo the above, OUT procedures lo respond lo risks identified the following- reviewing the financial slalemenl disclosures and lesling to supporting docum8nlalion lo assess compliance with provisions of relevant laws and regulations described as having a direct eflecl on the financial statements", enquiring ol managemenl concerning actual and potential litigation claims- perlorming analytical procedures lo identity any unusual or unexpected relationships thal may indicate risks of maleiial misstatement due to Iraud., reading minutes ol meetings ol those charged wlh governance- and in addre55ing the risk of fraud through management override ol controls, testing the appropriateness of journal entries and other adjustments., assessing whether the judgements made in making accounts'ng estimates are indicative ol a potenlial bias- and evaluating the rationale of any significant transactions Ihat are unusual or outside the normal course ol Ihe charity's work. W& a150 communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations Ihroughout the audit. Page11
Independent Audltor's Report to the Member$ and Truslees ol Rokpa Trust lor the year endlng 31 December 2023 Use of ihls report Thi5 report is made solely lo the membeis ol Rokpa Trust. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Charity's members those matters we are required to slate to them in an auditor's report and for no oiher purpose. To Ihe fullest extent permitted by law, we do not accepl or assume responsibility to anyone other than the Charity's members as a body, lor our audil work, lor this report. or for the opinions we have formed. oanne Thomlinson FCA Senior Slalulory Auditor For and on behalf ol Oodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Eslate Carlisle CA1 2RW Date:... Page 12
Rokpa Trust Consolidated Statement of Flnancial Activllies {incorporatlng Income and expendlture accounll For th8 Year Ended 31 Decemb•r 2023 31.12.23 31.12.22 Restricted Llnrestrlcted Total Rè$trleted Unrestricted Totsi In¢omè from- Donations and legaci•$ Other trading aclivili•$ Inv951m¥nis Charltabl• aclivlllos 143.467 305.280 399,537 46,895 918,118 448.747 399.537 49,482 918,116 176,577 561,584 207.414 21.124 624.047 738,141 207,414 21.580 624,047 2,587 456 Total Ineome 146,054 1,669,828 1,815,882 177.033 1,414.149 1 $91 182 expendlture on: Aaising lunds Charitabl• acllviti8$ 10.420 190,140 93.623 104.243 1.335,315 1,525,455 5.450 36,292 63,681 2,030,687 69,131 2.066.979 Tot*1 •xp•ndlture 200,560 1,429,138 1,629,698 41,742 2.094,368 2.136.110 Net Incom• I l•xp•ndltur•l 54 $06 240,690 186,184 135,291 680,219 544 928 rranslers balwo•n funds 140,0001 40,000 Net movement$ In funds 240,690 95,291 640,219 544 928 Funds brou9hl loThvar¢J 1,032,491 27.076,238 28,108,727 937,200 27,716.455 28.653,655 Funds carrled lorward 19 977 985 27,316,926 28 294 911 1.032 491 27 076.236 28 108 727 Page 13
AokpJ Trust Charlty Statement ol Flnon¢lo1 Arllvl¢le$ Ilncorporaling income and expendlture •ccountl For the Year Ended 31 Deeember 2023 31.12.23 31.12.22 Reslricled Unrestrlcted Total Restrleted Unrestrleted Total Incoffle from: t)onalions aThJ legacies Other Irading activities Inyeslrnents Charilable activitie5 143,467 397.761 222.429 46,895 918,116 541.228 222.429 49,482 918,116 176.577 544.537 159.423 21,124 624,047 721,114 159.423 21,$80 624.047 2,587 456 Toi•l In¢om• 146,054 1,585,201 1 731.255 177033 1 349,131 1.526,164 Expendltur• on: Raising furKIs CharilAe aclivitses 10,420 190,140 2,784 13,204 1,335,155 1,525,295 5,450 36,292 3,565 2,030,497 9.015 2,066,789 Tolol expend51ure 200,560 1.337,939 1,538,499 41,742 2.034.062 2,075.804 Net Ineom• I 1•xpandira) 54.506 247,262 192,756 135,291 684,931 549.640 Transfers belffj•n lund$ 140,0001 40,C*)O N•t mo¥•mèntg In fvnd• 247.262 192,756 549.640 Funds brought loThrdrd 1,032,491 26.977.969 28.010.460 937,200 27,622,900 28,560.100 Funds carried 19 977.985 27,225 231 28 203 216 1032 491 26 977 989 28 010 480 Pagè 14
Rokpa Trust Group Balance Sheet as at 31 Decernber 2023 Company nue1- 3260031 31.12.23 31.12.22 Flxed assets Tangible assets 10 20,589,604 19,949,831 Current assets Other assets Stocks Debtors Investments Cash al bank and in hand 672.632 123,799 99.440 850.000 6.682,505 12 13 14 237,546 71.166 85,000 7,437 256 7.830,968 8.428,376 Credllors: Amounts lalling due wlthln one year 125,390 265.145 Net current assets 7 705.578 8,163,231 Total assels less current liabllltles 28,295.182 28,113,062 Credltorg: Amounts lalllng due after more than one ye•r 16 1751 {4,3351 Provl•lons lor liabllltles and chargeg 17 11961 28.294.911 28,108,727 Funds and re8er¥es Reslricled ILtnds Unr8slrict80 lunds 19 19 977,985 27,316,926 1,032,491 27,076.236 28.294.911 28,108,727 The noles form part of the financial slatemenls. The financial stalemenls wefe appioved by th8 Board and were signed on ils behalf by.. Tsullim Palbar Lama Page 15
Rokpa Trust Company Bal•n¢e Shegl as al 31 December 2023 Company number- 3260031 31.12.23 31.12.22 Flxed Assels Tangible ass81s Inv8slmenls 10 20,588,696 19,948,764 20,588,700 19,948,768 Current assets Other assots Stocks Debtors Investments Cash al bank aThJ in hand 672.632 9.529 404,411 850.000 6 390.925 12 13 14 10.510 474,612 85.000 7,164,580 7.734,702 8,327.497 Creditors: Amounts falllng due wSthln one year 120,111 261,470 Not ¢urr¢nt •$set$ 7 614,591 8.066.027 Tolal a$sel$1oss current118bllltles 28,203,291 28,014,795 Credllorj: Amovnl8 f4lllng due after moro than one year 16 1751 14,3351 28 203,216 28.010.460 Funds and r•seMs Reslricled funds Unreslrlcled funds 19 19 977,985 27.225,231 1,032.491 26,977,969 28.203,216 28,010,460 The noios form part ol the Ilnan¢lal slalements. Th• linan¢ial st monis wer• approv•d by lh• Board and Sign on irs b•hall by.. Tsultim P .1& 20 ar Lama Page 16
Rokpa Trust GTOUP Cash Flow Statement os at 31 Dg¢ember 2023 31.12.23 31.12.22 Notg C•sh flow$ from oporatlng actlvlties.. Not cash provldedby opgratlng aclivltles 21 1,390,881 240,103 Cash flows from Investlno actlvlties= Divldends, inleresl and rents from investments Pfo¢8eds from Ihe sale ol Property, planl and equlpmenl Purchase ol prop8rty, plant and equipment Transfer of assets lo propèrty. plant and equipmènt Net ¢•$h usèdln Invéstlng activities 49,482 21,580 113.3601 672.632 636.130 18.000) 13,580 Cash Ilows trom tinancing activities: Repayrnents ol borrowings Net cash used in Ilnonclng aetlvltl•s Ch•nge In c••h and ¢•gh •qul¥al•nls In th• reportlng Pgrlod 22 754,751 1228.5231 C•sh •nd c••h •qulv•lgnts •1 th• gInnIng ol tho r•portlng perlod 22 6.682.505 6,909,028 Cash and cagh equlvalent$ ai the end ot th• reportlng peTlod 22 7.457.256 6,682.505 Page 17
Rokpa Trust Notes to Ihe flnancial statements 31 December 2023 1 Accounting pollcles The accounts Ilinancial slalemenlsl have been prepared in accordance with Ihe Slatement ol Recommended Practice.. A¢¢ounling and Reporting by Charilie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 as amended by the Charities Act 2022 and UK Generally Accepted Accounting Practice as il applies from 1 January 2019, the Charities and Trustee Investment {Scollandl Act 2005 and regulation 8 of the Charities Accounts (Scoilandl Regulations 2006 (as amended). The accounts (financial slatemenlsl have also been prepared in accordance with the Companies A¢1 2006. Basis ol preparalSon The charity meets the delinilion ol a public benefit entity under FRS 102. Golng concern These flnancial statements have been prepared on a going concern basls. The Trustees regularly review the financial position of Ihe charity, and as such are satisfied that there are no material uncertainties aboul Ihe charit$ abilily lo conlinue as a going Concern. Company slatus The company is a charitable company limited by guarantee, incorporated In England and Wales. Principal place ol business: Samye Ling Tibetan Cenlre Eskdalemuir Langholm DG13 OQL Tanglble Ilxed assets All assets with an expected useful life exceeding one year are capilalised in the balance sheet. Tangible lixed assets other than freehold and heritable land are staled al cost less depreciation. Depreciation is provided al the following rates lo write off the cost less residual value ol each asset over its expected useful economic lile.. Buildings Building Improvements Archives Temple fittings and equipment o°/ Relurbishment ¢osls 20Q/o 51raighl line Equipment 15Yo reducing balance Fixtures and fittings 150/9 redLJcing balance Motor vehicles 259/0 reducing balance CompLJler equipment 33.10 slraighl line Office equipment 15.10 reducing balance Plant and machinery 15°/o reducing balance 15Q/& reducing balance No deprè¢ialion has been provided on temple fittings and archives as, in the opinion of the Iruslees, the carrying value is al least equal to original cost. Depreciation is only charged on additional property improvements al a rale o1150/g reducing balance. In the opinion of the trustees any depreciation on Ihe buildings element ol land and buildings would be immaterial. The carrying value ol freehold and heritable property is reviewed on a regular basis and any impairments will be recognised. Other assets Olher asset5 are included in the accounts al fair value. and include assets held lor sale. Page 18
Rokpa Trust Notes to the financlal statements 31 Decernber 2023 1 Accountlng policies continued Liabilities Trade Creditors are obligations lo pay for goods or services Ihal have been acquired in the ordinary course ol business from supplieis. Accounts payable are classified as curr8nl liabilities if the Charity does not have an unconditional right, al the end ol the reporting period, to defer settlement ol the creditor lor al least Melve months after the reporting dale. If there is an unconditional right lo delei settlement for at least iwelve months after the reporting date, they are presenled as non-current liabilities. Trade creditors are recognised initially at the transaction proce and subsequenlly measured al amortised cosl using the 8flective interest method. Flnanclal Instruments Financial assets and financial liabilities are recognised when the charity b8comes a paty lo the conlraclual provisions ol the inslrumenl. Financial liabilities and equily instrurnenls are classified according to the substance ol the conlraclual arrangements entered into. An equity insliumenl is any Contract that evidences a residual interest in the assets ol the Charity after deducting all of ils liabilities. All linancial assets and liabllili8s are initially m8asured al transaction price {including transaction costs), except for those financial assets classified as al fail value Ihiough profit or loss, which are initially measured al lair value {which is normally the Iransaclion price excluding transaction costs), unless the airangement conslitules a financing Iransaclion. If an arrangement conslilutes a financing transaGlion, the linan¢ial asset or financial liability is measured al the present value ol the future payments discounted at a market rale of interest lor a similar debt instrument. Financial assets and liabilities are only offset in Ihe slalemenl ol financial position when, and only wh8n there exists a legally enforceable right to set oll the recognised amounts and the Charity intends 8ilher lo settle on a net basis, oi lo realise the as691 and sett18 the liability simultaneously. Financial assets are derecognised when and only when al the conlraclual rights to the cash flows from the financial asset expiie or ale settled, bl the Charity transfers lo another party substantially all ol the risks and rewards ol ownership ol the financial asset, or c) the Charity. despit8 having retained some, but not all, significant risks and reward5 of owneiship, has Iranslerred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or explres. Funds The Charity operates resliicted, unrestricted and designated funds. Restricted lunds are those where the donor is specilic as lo the use to which the funds are lo be pul. Unreslricled funds are those where the charity is free 10 expend the funds in accordance with the consiilution. Designated lunds are those s81 aside lor a specific purpose by Ihg Trustees. Inveslmonts Fixed asset investments are slated at cost. Current asset investments are included al fail value and include any short-leim, highly liquid assèts. Page 19
Rokpa Trust Notes to the flnancial statements 31 December 2023 1 A¢¢ountlng policies conllnued Stock St¢xks and work in progress are valued on a first in first out basis al the lower of Cost and net realisable value. Income Income is recognised when the conditions ol probability, enlitlemenl and measurement have been met. The accounting policies for Specific types ol income are sel out below.. Accommodallon, renlal Income, cour8e feeg and course donatlons Accommodation, rental income, course fees and course donations are recognised when the event lakes place or the service is provided. Income received which does not meet the condilions lor recognition al the year end are included in creditors to be carried foThYard to the following year. Donations and legacles The value ol income from donations and legacies accruing io the charity are recognised as soon as il is prudent and practicable lo do so. Such income is not recognised until Ihe conditions lor receipt have been rnet and there is probability of receipt. Furthermore, the charity considers that the factors of enlitlemenl, probability and measurement must be mel before laking account of this income. Expendlture ExpendltLtre Is accounted lor on the accruals basis. Wherever possible, expenditure is classified according io ils usage. Where this is not possible, costs are allocated according to the primary activity ol the branch which has incurred that expendiluie. The costs which cannot be allocated directly are shown as support costs in the Slalemenl ol Financial Aclivilies. Where expenditure relates lo a speGiliG project il is allocated to Ihal projeGI as feslri¢led expenditure. Deferred tax Deferred lax is recognised in respect ol all timing differences thal have originaled bul not reversed al the balance sheet dale. Consolidallon The consolidated accounts include the accounls of the charity and ils subsidiaries, all of which are prepared to 31 December 2023. The results of the subsidiaries have been included in Ihe consolidated Slalemenl of Financial Activities from the dale ol acquisition. Irrecoverable VAT Irrecoverable VAT is charged against the category ol resource5 expended lor which il was incurred. Support costs Support costs include cenlral function5 and have been allocaled to aclivity cost categories 00 a basis consistent with the use ol resources. Page 20
Rokpa Trusl Notes to the accounts For Ihe Year Ended 31 December 2023 2 Donallons and legacies 31.12.23 Reslrlcled Unrestricted 31.12.22 Total Tolal Donations Legacies Stupa ashes Grants 91.472 263,552 39,468 355.024 39,468 4,175 50,080 448,747 492,444 241,740 4,175 47,820 143,467 2,260 305,280 3.957 738,141 3 Other trading actlvllles 31.12.23 Restricted Unrestrlcted 31.12.22 Total Total Fundraising evenls Room hire & rental income Sales & café income Miscellaneous income 11,750 206,170 177,416 4,201 399,537 11,750 206.170 177,416 4,201 399,537 647 150,947 49,434 6,386 207,414 4 Investments 31.12.23 Reslrlcted Unrestricted 31.12.22 Tolal Total Bank interest 2,587 2,587 46,895 46,895 49,482 49,482 21,580 21,580 Page 21
Rokpa Trust Notes lo the accounts For the Year Ended 31 December 2023 5 Charilable aclivities 31.12.23 Reslrlcled Unreslrlcled 31.12.22 Tolal Total Course fees and donations Spiritual Health & education 48,838 3,468 48,838 3,468 19,844 1,280 Tolal course fees and donations 52,306 52,306 21, 124 Accommodalion & retreat Spiritual Health & education Total aGGommodalion 671,231 193,171 864,402 671,231 193,171 864,402 365,036 212,313 577,349 Other income 1,408 918,116 1,408 918,116 25,574 624,047 Page 22
Rokpa Trust Noles lo the accounts For the Year Ended 31 December 2023 6 Expendllure 31.12.23 Raising Spirilual Health & funds Education 31.12.22 Tolal Total Direct costs Purchases Farm & gardens Statue costs Miscellaneous Travel Fundraising & publicity Food & household expenses Expenses of subsidiary trading activities Workshops & sangha costs Repairs & maintenance Salaries, allowances & expenses Establishment costs Course expenses Donations & sponsorship Training 2,571 1,658 883 2,688 2,571 56,596 883 2,745 8,678 6,883 158,629 91,039 4,547 92,619 119,031 145,302 40,839 302,900 2,558 23,763 38,080 409,120 6,184 6,184 4,383 6,093 2.535 3,783 17,467 3,548 113.411 60,116 1.931 133,105 185.302 309,417 3.353 965.459 6,255 54,938 57 5,821 3,271 140,468 2,857 2,755 18,161 857 91,039 4.547 92,619 26,271 262,061 21,205 371,040 Total direct costs 104,243 977,751 230,465 1.312,459 1,816,158 Page 23
Rokpa Trusl Notes 10 the accounls For the Year Ended 31 December 2023 6 Expendllure (continued) 31.12.23 Raising Spirilual Heallh & funds Educalion 31.12.22 Total Tolal Support costs Office expenses Insurance Depreciation Finance cosls Repairs & maintenance Consumables Sundry Subscripiions Motor & Iravelling Legal & prolessional Loss on disposal of assets Accountancy & audit Advertising & publicity Room hire Total support costs 45,864 70,652 41,912 25,331 21,225 2,560 499 11,012 9,694 3,223 1,892 14,889 2,276 2,046 4,207 56,876 80,346 45,135 27,223 36,114 4,836 2,545 4,207 16,448 764 8,013 704 704 1,614 25,068 724 724 9,000 9,000 62,045 317,239 48.269 70.581 51,922 16,124 75,771 606 21,493 4,121 4,941 1,408 16,448 7,249 23,454 21,098 2,618 1,000 319,952 255,194 Total expenditure 104,243 1,232,945 292,510 1,629,698 2,136,110 Page 24
Rokpa Trust Noles to the accoun18 For the Year Ended 31 December 2023 7 Nel incoming resources 31.12.23 31.12.22 Net incoming resources are stated after chargino.. Depreciation ol langible assets Auditor's remuneralion for audit servlces Auditor's remuneralion for non-audil seNlces 45,135 18,450 2,925 51,922 12,500 2,850 8 Staff costs 31.12.23 31.12.22 Gross salaries & wages Employer's national insurance Pension contributions 109,254 3,970 2,230 115,454 147,494 9.535 3,186 160,215 31.12.23 No 31.12.22 Staff numbers No employees earned £60,000 or more during ihe year. 9 Fixed asset investments Shares in subsidiary undertakings at cost: Com an 2023 2022 Holding Flokpa Developments Limited KSDL Trading Limiled 100°/. 1009/. Rokpa Oevelopmenls Limited Is registered in Scotland. KSDL Trading Limited is registered in England & Wales. Page 25
Rokpa Trusl Noles to the accounts For Ihe Year Ended 31 December 2023 10 TangSble lixed assets Land and Buildings Plant and Machinery Tolal Group At 1 January 2023 Additions Disposals At 31 December 2023 20,480,871 677,532 995.612 8,460 4,700 999.372 21,476,483 685,992 4,700 22.157,775 21,158,403 reciation At 1 January 2023 Charge for year Elimination on disposal At 31 December 2023 820.010 32,188 706,642 12,947 3,616 715,973 1,526,652 45,135 3,616 1,568.171 852,198 Net Book Value At 31 December 2023 Al 31 December 2022 20,306,205 19,660,861 283,399 288,970 20,589,604 19,949,831 Company Land and Bulldlngs Plant and Machlnery Total Al 1 January 2023 Additions Disposals Al 31 December 2023 20,480,871 677,532 950,869 8,460 4,700 954,629 21,431,740 685,992 4.700 22,113,032 21,158,403 De reciation Al l January 2023 Charge for year Elimination on disposal At 31 December 2023 820,010 32,188 662,967 12,787 3,616 672,138 1,482,977 44,975 3,616 1,524,336 852,198 Net Book Value Al 31 December 2023 Al 31 December 2022 20,306,205 19,660,861 282,491 287,902 20,588,696 19,948,764 Page 26
Rokpa Trust Noles to the a¢¢ounls For Ihe Year Ended 31 December 2023 11 Other assets Grou 31.12.23 Corn 31.12.23 31.12.22 31.12.22 Freehold land held lor sale 672,632 672,632 672.632 672.632 12 Stocks Grou 31.12.23 Com 31.12.23 an 31.12.22 31.12.22 Goods lor resale 123.799 123,799 10.510 10.510 9.529 9.529 237,546 13 Deblors Grou 31.12.23 Com 31.12.23 31.12.22 31.12.22 Amounts owe(I by group undertakings Other debtors Prepayments 403,446 71,166 305,559 77,852 21,000 404411 71,166 78,440 21,000 71.166 474 612 14 Investments Grou 31.12.23 Com 31.12.23 31.12.22 31.12.22 Cash or cash equSvalents 85.000 85.000 850,000 850.000 85,000 85,000 850,000 850,000 Page 27
Rokpa Trusl Notes to the a¢¢ounls For the Year Ended 31 December 2023 15 Creditors: amounts falling due wilhin one year Grou 31.12.23 Company 31.12.23 31.12.22 31.12.22 Accruals Taxalion & social securlty Other creditors Deferred income 15,000 40,825 65,305 4,260 125,390 15,000 78,169 167,716 4,260 265,145 15,000 35,546 65,305 4,260 120,111 15,000 74,494 167,716 4,260 261,470 Deferred income brought forward Released to income during year Deferred in year Deferred income carried forward 4,260 {4,2601 4,260 4,260 16 Credllors: amounts falllng due after one year Grou 31.12.23 Com 31.12.23 an 31.12.22 31.12.22 Deferred income 75 75 4,335 4,335 75 75 4,335 4,335 Grou and Com 31.12.23 an Deferred income broughl forward Released to income during year Deferred income carried forward 4,335 4,260 75 17 Provlslons for Ilablllles and charges 31.12.23 31.12.22 Deferred taxation accelerated capital allowances 196 Deferred tax Balance at 1 January 2023 Accelerated capital allowances Balance at 31 December 2023 196 196 Page 28
Rokpa Trust Notes to the accounls For the Year Ended 31 December 2023 18 Group and Related Party Transactions Transaclions entered into with companies within the group are as follows Com an 2023 2022 Rokpa Developments Ltd - a wholly owned subsidiary (included in the consolidated accounts} Company number.. SC148413 Donations under Gift Aid Nel assets Turnover Profit/ (Loss) 72,956 17,221 134,913 76,130 14,049 27,794 3,177 Samye Ling Tibetan Cenlre Eskdalemuir Langholm DG13 OQL Rokpa Trust provided Rokpa Developfnents Ltd with a loan of £290.000. Interest has been charged on Ihe loan at 2.5¥.. KSDL Trading Ltd - a wholly owned subsidiary (included in the consolidated accounts) Company number.. 11565160 Com an 2023 2022 Donations ynder Gift Aid Nel assets Turnover Proliv (Lossl 19,525 9,746 42,195 19,525 20,197 11,281 Principal place of business: 15 Spa Road Bermondsey SE16 3SA The charity provides accommodation and the means of subsistence lo some of the ordained community (the Sangha). A5 beneficiaries. Ani Lhamo, Lama Yeshe L05al Rinpoche, Lama Elise Kristine Sylvest Jacobsen and Tsullim Palbar Lama, received board and lodgings in their capacity as ordained Sangha members. bul nothing in their role as trustees. No expenses were paid lo trustees during the year. Abbot Lama Yeshe Losal Rinpoche is a Irustee of both Rokpa South Africa and Flokpa Trust UK. £112,000 was transferred lo Rokpa South Africa during the year lor the building ol a Labrang on the Cedarpeak Reserve; and £210,000 to Rokpa Gauleng South Africa for Ihe construction ol the Johannesburg Temple. There was £2,900 received from trustees of the charily through regular giving and one-off donations. Sean McGovern is a director of the Mindfulness Associalion. during the year they have been invoiced £15,23812022 - £42,878) for room hire. Page 29
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2023 19 Funds Balan¢e at 1.1.23 Incomlng Resour¢e8 Outgolng Resources Balance al 31.12.23 Transfers Group Restrlcted funds Reslrlcted grants Dolma Lhakhang Monastery Other resliicled funds 47,820 80,386 17,848 143,6381 {135,6771 21,245 4,182 606,480 367,323 661,771 370,720 Total restricted funds 1,032,491 146,054 (200.56Q) 977,985 De8lgnated funds Rellglou$ lea¢hers fund 84,000 84.000 Unrestrlcled funds 26,992.236 1,669,828 11,429,138) 27,232,926 28,108,727 1,815,882 1.629.698 28,294.911 Prlor year funds Group Balance at Incomlng 1.1.22 Resourceg Oulgolng Resources Balance at 31.12.22 Transfers Re8lrlcted funds Dolma Lhakhang Monastery Congo fund Other reslricled lunds 568,744 95,091 s,000 12,0641 15,0001 34,678 661.771 368.456 40,000 370,720 Total restricted lunds 937,200 177,033 141, 742) (40,000) 1,032,491 Deslgnaled funds Aeligious teachers lurwj 84,000 84,000 Unreslrlcled funds 27,632,455 1,414,149 12,094,368) 40,000 26,992,236 28,653.655 1,591,182 2.136,110 28 108,727 Pagg 30
Roltpa Trust Noles to the aeeounts For the Year Ended 31 Decem1 2023 19 Fund$ Balance at 1.1.23 Incoming Resources Outgolng Resources Transterg Balance at 31.12.23 Company Reglrlcted tund8 Reslricled grants Dolma Lhakhang Monaslery Olhgr reslricled funds 47,820 80,386 17.848 143,6381 1135,6771 4,182 606.480 367,323 661,771 370.720 Total restrtct8d lunds 1,032,491 146,054 (200,560) 977,985 Designated funds Religious teachers lund 84.000 84,000 Unregtrlcted funds 26.893,969 1,585,201 11,337,939) 27,141,231 1,538,499 28 203.216 Prlor yo4r lund8 Company Balance al 1.1.22 Incomlng Resources Outgoing Resourceg Tr•n¥fer¥ Balance at 31.12.22 Aestricted funds Dolma Lhakhang Monastery Congo fund Other reslrlcled funds 568.744 95,091 5,000 12,0641 15.0001 661,771 40.000 370 720 Total reslrtcled lunds 937,200 177,033 (4 1, 742) (40,OOOJ 1,032,491 Oeslgnaled lunds Religious teachers fund 84.000 84,000 Unro$tri¢led lunds 27,538.900 1.349,131 12,034,062) 40,000 26,893.969 28,560,100 1.526.164 2,075,804 28,010.460 Page 31
Rokpa Trust Notes lo the accounts For the Year Ended 31 December 2023 19 Funds (continued) The following funds are considered to be restricted and lo be used lor specific purposes either laid down by donors or by the terms ol particular appeals or agreements.. Oolma Lhakhan Monaste To build a medical clinic in ihe grounds ol Dolma Lhakang, staffed by a resident doctor. Also lo buld sheltered housing lor the elderly. lo give those who have no family and are wovisionalty being cared lor by the Monastery more comfortable accommodation. Oih81 Resliicted Funds Funds raised lor projects established al Kagyu Samye Ling lor the lurtherance ol Buddhism and other lunds wheie the donor has placed restrictions on the use ol the lunds provided. slrieted rants Giants received lor restrKt¢d purposes such as planting a I0dland on Holy Islè. led Fund The trustee$ have d&snated lunds lor th• support ol th• Tibtan Lamas and olhtrr r•ligious iaehers to pursue a rellgious 20 Net 4gse19 by fund Aestrlcted lunds Oeglgnaled funds Unrestrlcted funds Tolal funds Group Fixed assets Current assets Cr8dilor8 due wilhln on8 year Creditors du& 811&r one yèar 20.589,604 6,768,983 112S.3901 271 27 232 926 20,589,604 7,830,968 112S,3901 271 28294911 977,98S 84,000 977 985 Page 32
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2023 20 Net assets by tund (continued) Reslricted funds Designated funds Unrestricted lunds Total funds Company Fixed assets Investment assets Current assets Creditors due within one year Creditors due after one year 20,588,696 20.588.696 977,985 84.000 6,672,717 1120,1111 75 27 141 231 7.734,702 1120.111} 75 28,203,216 977,985 84,000 Prior year nat assets by fund Group R8Stricted funds Designated lunds Unrestrlcted funds Total funds Fixed assets Current assets Creditors due within one year Creditors due aftèr on8 year 19,949,831 7,311.885 1265,1451 4,335 26,992,236 19,949.831 8,428,376 1265,145) 4,335 28 108,727 1,032,491 84,000 1 032,491 Restricted funds Deslgnated funds Unreslricled funds Total lunds Company Fixed assets Inveslmenl assets Current assets Creditors due within one year Creditors due aller one year 19.948,764 19.948,764 1,032,491 84,000 7,211,006 1261,4701 4,335 26 893,969 8,327,497 1261.470) 4,335 28 010.460 1 032 491 84,000 Page 33
Rokpa Trust Motes to the accounts For the Year Ended 31 Oecember 2023 21 Reconciliation of net incomel{expenditure) to net cash tlow from operatlng a¢tlvilies 2023 2022 Net Incomel(expenditure) lor the reportlng peTlod {a$ per the statement ot linancial activities) 186,184 1544,928) Adlugtmenls for: Depiecialion Dividends, inleresl and rents from investments LossllProfill on sale ol fixed assets {In¢ieaselldecrease in investment property {Increase}Idecrease in investments Ilncreaselldecrease in other assets Ilncrease}Idecrease in stocks Ilncreaselldecrease in debtors Increaselldecreasel in credilofs Increaselldecreasel in provisions Net cash provlded by operatlng a¢tlvltles 45,135 149,4821 704 51,922 {21,580) 680,632 320.319 1872,6321 15.034 140,895} 127.9751 765,000 672,632 {113,7471 28,274 (144,0151 196 1,390,881 240,103 22 Ch•nges In net d•bt At31 December 2023 At 1 January 2023 Cash flows Cash and cash equlvalents Cash 6,682,505 754,751 7,437,256 Total 6,682,505 754,751 7,437,256 23 Flnan¢lo1 ¢ommllmenls In 2021 Rokpa Trust committed lo pay £1.5 mlllion towards the bullding ol a Labiang on the Cedarpeak Reserve. £112,000 was paid during 2023 towards thSs commilmenl12022 - £850,000). In 2021 Rokpa Trust also committed lo pay £650,000 towards the buildlng ol a temple In Kensinglon, South Alri¢a. £210,000 was paid during 2023 towards IhSs ¢ommilmenl12022 . £nil, 2021 £150,000 and 2020 - £33,000). 24 Contlngent assets Th8 charity has b8en notilied of lurth8r legacies which do not meet the criteria lor recognilion in the accounts as the amount is not yel measurable. One legacy relates to investments and the value is around £920,000. The second f8lal8s lo a propety and the valuè is currèntly unknown. Page 34