Rokpa Trust Consolidated Financial Statements 31 December 2024 dOdd&co *AEC4B768• 2910912025 COMPANIES HOUSE A23
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Rokpa Trust Contents for the yèar ondlng 31 December 2024 Page Trustees. report Report of the Independent Auditors Consolidated Statement of Financial Activiliès 13 Charity Statement of Financial Aclivilies 14 Group Balance Sheet 15 Company Balance Sheet 16 Group Cash Flow Statement 17 Noles to the financial statements 18
Rokpa Trust R•port of th• Tru8t••8 and Dlrectors for tho year ended 31 December 2024 The trustee$ are pleased lo present their port togelher with the finanual statements of the charity for the year ended 31 sl December 2024. Ref¢ren¢e and admlnlstratlve detslls Charity number.. 1059293 {England & Wales) SC038628 (Scolland) Company number: 3260031 (England & Wales} Registered offi'ce.. FIFTEEN Rosehlll Montgomery Way Rosehill Eslale Carlisle CA1 2RW Principal office.. Kagyu Samye Ling Eskdalemuir Langholm Dumfries & Galloway DG13 OQL Directors and trustees The directors of the chantable company (the charilyl are its trustees for the purpose of charity law and throughout Ihls report are collectively rolerred lo as the Iruslees. The trustees serving during the year and since the year end were as follows Abbot Lama Ye8he Losal Rinpoche John Maxwell Ani Lhamo Karma Lhamo Cosgrove Lama Elise Krisline Sylvest Jacobsen Tsullim 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 Dumfiie8 High Street Branch DG12RA .Solicilors'. Brodies 2 81h$wood Square Glasgow G2 4AD Page 1
Rokpa Trust Report of the Trustees and Directors for the year ended 31 December 2024 conttnued Structure. Governance and Management The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document. the Charities Act 2011 and Accounting and Reportlng by Charities.. Slatement of Recommended PTactice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland. rnin nt Rokpa Trust is a company limited by guarantee and govemed by its Memorandum and Articles of Association dated 1 st January 1997. 11 is registered wtth the Charity Commission in England and Wales and the Offe of ihe Scottish Charity Regulator. In the event of the company being wound up members are required to conlribule an amount not exceeding £10. intment of Truslees The Articles of Association provlde Ihal the trustees 8re appointed by spiritual leaders of the Kama Kagyu order of Tibetan Buddhl$m. Newly appointed ITUStees are glven induction training depending on their level of experience and all trustees are offefed ongoing Iraining 88 appropriate. nis tion rucl The organisalion is divlded Into a number of branches, which cany out the work of the Trust. The main branch, Kagyu Samye Ling provides leachin9 SUPPOrt and guidance. gives administrative assistance and acts as head office for the organisation. The Irustees are responslble for the overall managemènt and control of the charity and receive reports from the branches, committees, which include at least one of their number on each. Day to day management of the charity durlng 2024 was delegated lo the ¢omp8ny secr81ary, Sean McGovem. k Mana emenl The trustees have a risk managèment strategy. This comprises of an annual review of risks the charity may face and the establishment of syslems and procedures to mitigate those risks. Two key areas are health & safety. and Ihe setting of a resepjes pollcy and Its regular review by Injstees. Relaled P rties There are two subsidiary trading companies as part of the Rokpa Trust Group, being Rokpa Developments Ltd and KSDL Trading Lld. Obiectlves and actlvltles The Trusl's primary objects. as stated in ils Memorandum of Association are.. 1. To promote the Buddhist religion and foster non-seclanan inler-religious dialogue and understanding. 2. To provide medlcal care and therapy. 3. To provide education. 4. To lIeVe poverty. Rokpa Trust can trace its origins in the UK back lo 1983, when two young Abbots. ¥*ho had left Tibet came lo Oxford and a few years later settled in Eskdalemuir. Scotland. establishing the firsl Tibetan Buddhist Cenlre in the West. They named it Samye Ling after the first Buddhist monastery in Tibet and this was the beginning of the Cenlfe. vthich has grown over some S0+ years to become a renowned institullon for the study and practice of Buddhism. The aims of the charity fall into three areas.. $plritual,' heatth and education., and ttie relief of poverty. The charity. seeks to help improve education and relieve povety. The charity also seeks to expand the understanding of Buddhism. Continuedl Page 2
Rokp• Trust Report ol the Trustees and Dlrectors for the year 8nded 31 December 2024 continued The Twslees ceIve reports from all parts of Rokpa Tru81 and meet annually th volunteers who manage our dillefenl branches. Thls enables the Board of Trust8es lo review each aspect ol Ihe Charilable aims lo assess Ihe number of beneficiarfes Ihai have been asslsled In each ol these aieas and the ways In they have benefiled trom the work of lh8 Otganisab'on. Along with Ihe financial information produced in the year end financial sialements, Ihis is the main measure of the charitys suceess. To achleve Ihe first of its eharilable objeclives Ihe Trust h88 eslabli8he<l a number ol Tibetan Buddhist Centres in Ihe United Klng¢Jom, Ihe mo$t notable being Ihè Kagyu Samye Ling Monastery and Tlbelan Centre where a Buddh581 ternple has been built. In addlllon Holy Isle. on Ihe Wesl Coast of Scotland. has been acquired by the Tw$t and has now developed into a place for retreals for Buddhists ar people of all lallhs. To achieve ils charitable objective ol reliewng poverty, Rokpa Trust has for many y&ars run prole¢ls lo feed homeless and poor people in v8riou$ cllle$ In Ihe United Kingdom. Some money is a150 ralsed lo be sent lo projects abroad. The organisalion 1$ based on volunteer Involvement with only a lew pald po813 In areas ol management 8nd admini51falion, vknose remunerallon Is sel by Ihe Board ol Tnjstees. It is highly dependenl on the many ur¢paid wjlunleecs glvg their lime lo ils work and 118 projects. The energy and pure cr)mmitmenl that Ih8y bring lo Ihe organisalSon is al the very heart ol Ihe work of Rokpa TNsl. In deiemlnlng the oblectlves the Irusle•s have paid Oue reg¥rd lo Ch8rlly Commlssion guldance on public benefrt. The charity is aware of the iicre88ing dgk ol banking and eil card fraud and fegularfy 8dvise 011 usern of onllne lacililies on the best slrategies lo employ. The reputation of the charity15 very important and so all ailempts are made lo minimbse risks in this respecl. The Tw81ees ano local groups meel iegularly lo revlew 311 policy docurnenll. All Insurances are revlewed Js Ihe Slluallon demand¥ arml updaled a5 necessary. Ach1•Man¢S and porfonnancg Kgyu Samy• Llng Mon4$t•ry and Tlb•tan Cenlrg Oh8rma Teachi s and Events al Ka usam eLin In 2024 Samye Ling hosled a very wide range o18uddhisl courses, th a number ol hlghly qualified leachers ¥i$lng for the Ilrsl time. We hope that they ¥MII al a180 be able lo relum in Ihe luture. For thè first lime sinee before the Pandemlc we were able lo resume Ih? annual Nyun9ney la51ing relfeat in Mar¢h 2024. Thls pracllce Is aSmed al d8velopin9 lovlng kindness and compasslon anil thls year was by Lama Karm Oondam for Ihe first lime. As in prevlous years we hosted Ihe 4th UK Kagyu Monlam prayer lestlval which was presided over by our Abbot, Lama Yeshe Losal Rlnpoche a5 well as Drupon Khen Rlnpoche, Karma Lhabu who laughl daity during the Monlam8. We 8180 continued lo offer annual prayers lo bless the ashe8 01 those who p8$$ed away durlng the prevlous year th L3ma K8rm8 Oondam and Chanl-masler Lama Menlh8 conduclirwJ a Ble55lng of Ashes Ceremony. Kfnpo Lekthon9 felumed to leach on various Sutra$ (diJcourse$ given by the Buddhi) in May and June. Later in June. V•t CeIVe(l the flrsl viiil of Khen Rinpothe Karma Tashi gave a number of teachings over perlod of one month. including The Four Dharmas of Gampopa. The 100 Verses of Advlce lor Ihe People ol Tingri and one week retreat with teachings on Ihe voll-known lexl by ShontNJeva. "The Way of the Bodhisattva Ringu Tulku Rinpoehe, a lotYJ-lime visilirwj teacher in Samye Ling. delivered a Eekend course entiUeLI 'The Llle of 8LKldha" in Juty. then recelved te8chSng from Khenpo Karma Dradul who vlsiled Samye LlrvJ fw the first lime and who 18ughl on Ihe subsed ol The Four FourwJ8tions Irom 22 July 2024 onward5. Continue Page 3
Rokpa Trust Report of th• Trusts•s and Directors lor tho year onded 31 Docembèr 2024 contlnued Beeen August and October, the highly esteemed Khenpo GhaNaro gave teachings on 8 variety of subjects. In Oclober, as ahvays. we marked the anniversary of the passing of Akong Rinpoche. Drupon Khen Rinpoche relumed to Samye Ling lo lead a week4ong Akong Memorial Retreat which included daily leaching sessions as well a8 meditatson session6. And last bul by no means least. Tulku Damcho Rinpoche, who first visited in 2019. relumed lo give a series of empowermen16 and teachings in late October. As with all dhamia teachings in Samye Ling, the has been no charge for any of these teachings and events. Afso. whereveT possible. vi$iling lea¢heTS also spend Ilme visiting some of our Samye 020ng cenlres in the UK and Europe. We hope we wlll be able lo offer even more dhamia teachings and 8vents in 2025, though thls is never ¢¢rtaln due to the naèd for non•UK teachers lo be granted UK visas. Pro ecls Undertaken in 2024.. Meanwhile we have continued with ongoing maintenance 8nd repairs, Including the replacement of the Eco-cabin roof. We have also been wothing on a Solar energy project with the aim of moving towards reducing dependence on non- sustainable energy sources. So far we have bèen granted planning pernission. though we ar& yel lo approved by Scottish Energy. We h8ve continued developing the Samye Ling grounds. We have buill up soil with more Irailer4oad$ of horse manure and have Succeeded in growln9 sufficlenl green vegetables lo feed guests and resldenls all year round. We hav8 also Ihlnned out old trees and have improved flower gardens and are especially happy with some Himalayan Primros85 whlch were raised In Ihe Samye Ling flowor nursery. Ke Financial Review Points.. We hove negotiated a more favourable electricity contract lor Samye Llng We are saving a significant sum of money by 9rowing our own vegetables We are now consolidating guest booking$. especially during winter, to reduce healing bills We also close down some guest 8c¢ommodalion blo¢k5 over Ihe winter lo reduce heating costs We have revnegollaled Insurance policies but wlll also pul out lo lender in future lo ensure Ihe most cosl*ffecllve cover. Kagyu Samy• Dzong London Kagyu Samye Dzong Tlbelan Buddhi81 Centre firnl opened in April 1998 and offers 8 peac8lul and w8lcomin9 environment Sn our centre in central Lon¢Jon. They run a programme of courses and work3hop6 focusing on medttalior¢, Buddhism, and holi51ic therapies, In Bemondsey. near the heart ol centr81 London, and also prO¥e venues for community activities and allern81ive praclrtioners as well a$ a qualified Tibetan do¢tor who holds regular ¢linics where palEnls receive Irealmenl using Iradilional Tibetan methods. The centre is closely connected lo Kagyu Samye Ling Monastery in Scolland, which was established in 1987 and is under the direct guidance of Choie Lama Yeshe Losal Rinpoche. As part of Ihe Kagyu Iradilion, one of the fouf main schools of Tibetan Buddhism, headed by His Holiness the 17th Gyalwang Karmap8 Orgyen Trinley Dorie, tho eenl look$ lo offer a conslanl programrne of 8uddhisl leaching$, meditation retrea15 and meditstion inslruclions, a5 well as providing a place of calm for Buddhists and non-Buddhists alike. Lama Gelongma Zangmo is the reswjenl lama and teacher al our London branch. There is a Iov8ty Tibetan Tea Room and comlortsble seating to enjoy a moment of relaxation. There is also a shop offering a wide 58leclion of Buddhisl books fr¢)m all Iradilions, and a varièty of ralated iiems, such as incense, mèdilatlon ¢ushion$, statues, and malas. Conlinuedl Pa9e 4
Rokpa Tru¥t R•port of the Tfu$ts•s and Dlrnctors IOT the year endod 31 Oecwiber 2024 continued K•9yu Samy• Dzong Edlnburgh After many years KSD Edinburgh is now WeleStabliShed in ihè capital city. In 2016 they bought 8 tuildirwJ in Leilh and are locaied thefe. Thg new Centre, with ts be•ulllul, dom Shrlne Room and spadous Yoga Room, piovlde$ the id¢g1 spac4 lor a WKle range of heallhlving OLXlvlllg$ lo ben¢fll body •nd mlnd. Kagyu Samye Dzong Gl•8yow From the earty 1980's, a group of people mel in the Gl8sgow ar&8 lo study ant1 pra¢li¢e tha Dhama and lo work toward8 hjvlng Ihelr own base In the ore• 011 under Ihe ausplrA$ of Samye Llng Monastfjry and Tib8l•n nIfO noar F4kdRlp.muir in ihe Borders. The property al 7 Ashley Street Ifom)erty known as Rokpa House) was purchased in May 2000. and work began lo upgrade Ihe rooms lor use. It was finally in8ugural8d in Mard) 2001 by the Founding Presiflenl of Rokpa Tnjsl, and Collfounder of Samye Lln9. Dr Akong Tulku Rinpoche. A seml-piofesslonal kllchgn w46 Installed In Ihg basgmenl lo Pfo¥ide soup for Ihe homeless and hungry in Glosgow. Tho Receplion and Office is open on weekdays from 11am lo 1 pm. when any visdors are welcorned, and any phone message8 actioned. Both the Llbrary and Shop 8r¥ 0150 open on we&kdays from 114m lo 1pm, and on $ome we¢kond$ by prior arrangement. Everylhing that happens al Kagyu Samyt Dzong Glasgow is due entirely lo Ihe efforts of Its volurfeer staff. sam Dzong S¢arbomugh In June 2013 Scarborough 8orough Councll voted lo transfer the be8ulllul, hl81ori¢ buildlnu Londesborough Lodge lo Rokpa Trust. as a Communily AsBel Transler. The focus has bèen on the règenerabon ol Ihls site, restoring rt lo Ils orYJinal $plendoui and cultural slgnificance. ènd opening It as a centre lor the health and wellbeing ol the mmUnity. The m8in funth.on ol th& ¢*ntre 1$ lo promde medilalion and compassion-based mindfulness dasses and retreatG for both 8uddhlst$ 8nd non&8uddh151$ allke, as well as health and wellbeing 8ÈNces ¥¥lth communty outreoch. •r K•gyu Samy• Dz?ng• These Centres around the UK ronge in slze from small group8 meeling In people's homes, tts the larger cenlres with Ihelr t)wn properties. In 2024 there were Cenlres in the Scollish Highlands. Surrey. and CardKr. Lothlorl•n Lothlorien 15 a Iherapeullc community for people with ment81 healu) problems, situated in a qu¢et iural sewng In Souihwest Scolland. The communtty consists ol residents with mental health problems and volunlary .worke[s. ling In the 13 bedroomed maln hov5e and a further 5 pwple Ilving in Roan Lod9e, the 4djoc•nl movo-on hou$9. The slall, known as Ihe Core Group, come in on we•kd&y8. As a therapeutic Gommunrty, Lolhlorien aims lo help people to develop their strengths and work towards recovery through Ihe shared experienrk of communily liftr. Lothlorien er$ from the usual appro8ch to iesidenlial care by airning lo mlnimlse the disi¢ndions between slaff, volunteers and residenls and to avoid tha division beh¥een those who &r8 'well' providing caro for iho8e who gr• 'unwell'. Insleod. Ih8y aim lo cr8ale a Cullurg ol mutual support. whlch laulrtates people In developing Ihelr 6treng¢h8 and 8ll¢xs thgm lo $08 thgmselves as having somelhlng lo offer as well as having something lo gain Irom communily life. The wtrekly programme is mainly focused on organic vegelable gardenin9 and outdoor Wofk. 11 also includes r•laxalion groups bgs8d on T8ra Rokpa Therapy, athort and Qigong. Conllnuedl Page 5
Rokpa Trust Report of the Trustees and Director8 for the year ended 31 December 2024 contlnued Helping the Homeless In the Unlted Klngdom Rokpa Tfust continues lo provide food and olher necessitie5 to the hoMes$ in Glasgow and London. Projects Cedarpeak Project In South Africa Thé trustees of Rokpa Trust U.K. are supportNe of Rokpa Trust South Africa collaborating with Ihe Vision Corporation SA CC in forming Public Benefit Organisation IPBOI at Cedarpeak Nature Reserve near Cape Town. The principal objective of this PBO will be lo conserve and protect the natural environment. Buddhism has alway5 been closely linked to praGtising in natural. secluded environments and prolecting and conserving the environment. A Labrang (an inslilulion fof the promotion of Buddhism, medical care, Iherapy and education and the relief of poverty) has been built on a designated plot in the Cedarpeak Reserwe and this is directly concerned with the promotion of Buddhism. The Iruslees of Rokpa Trust U.K. are satlsfi8d that the project lo build the Labrang, vthlch they have financed, Ss entirely Consistent wlth thelr own objectives in respect of the furtherance of Buddhism. Kenslngton T•rnple Proloct Rokpa Trust U.K. collaborated with Rokpa Trusl SA in building a Buddhist temple on land owned by Rokpa Trust South Africa in Kensington in Johannesburg. The project was financed by Rokpa Trust U.K. and built. maintained and administered by Rokpa Trust South Africa. The key objectives of both trusts are the same in respect of the building and maintaining of study centres, mona51eries, nunneries and temples, as well as benefiting and alleviating the sufferfng of the poor and underprivileged. the aged. the sick and the needy by the provision of shelter. refuge. facilities, food, clothing 8nd medioines. It is particularly noted Ihat there is severe poverty in Ihe aréa ol Kensington in Johannesburg and the temple will be used as a base for feeding homeless people and for the general relief of poverty. 11 is also noted that there Is inadequate local provision for mèdlcal care, therapy and education in this area. It is agreed that the temple will be used for these charitable purposes in order to fulfil the objectives of both trusts. Rokpa Developmen13 Llmllgd Rokpa Developments, a wholty owned subsidiary of Rokpa Trusl, runs a shop and cafe. The shop offers goods from overseas as well as ilems made al Samye Ling. The cafe offers variety of food and drink and Is very popular wilh visilors. Rokpa Developments is committed to donate £100, 019 from Ils proftt lo Rokpa Trust by way of glft aid. KSDL Tradlng Umlted KSDL Trading Limfted, whlch runs the shop and cafe in London, started irading in 2019. KSDL TradSng Llmlled Is committed to donate £31,188 from ils profrt for the year lo Rokpa Trust ty way ofgift ald. Continuedl Page 6
Rokpa Tru$1 Report of th• Trusto•s and Olr•ctors for the year ènded 31 December 2024 contlnuod Flnanclal Rovlow The Iruslees continue lo lodge a 8ignifieanl amount of Rokpa TnJg1 c8Prtal reserves on Ihe Insigni$ cash plaorni ith has the benefit of offerSn9 Stronger FSCS proiectlon whilst also offerfng hlgher Interest rales on our San9$. Furthermore, See 'key financial rewew polnls, under the Samye Llng report 89 above. RèseNas pollcy The Tru8lees' reserves policy to mainlain a sum equivalent to one yearfs core costs as a mlnlmum lo enable the ch8rlty lo continue operating durlng Ilme3 of unloreseen flnandal demands or kn Ihe event of 4 Shortfall In d¢)natlon¥. Slnce the passing of Akong Rlnpoche Ihere has been a decllne in offerings recelved In the number of h18 students making bequesls to Ihe TrLt51. In addition, the current dlmale of ongoing economic pressure and ¥Jneertainly makes il dtfficutt lo predict income levels. For all of these reasons it Is more important than ever for the Trust lo malntain a robust level of resen4e8 to ensure 018 operallonal conllnulty. Al the year-end reserves lotalllng £28,294,911 le held by Rokpa Trus1. Of these reserves £1,098,154 are reslrlcled and £84,000 are designated. £7.582,320 are dassified as Iree reseNes' and therefore the reserves policy has been mel during the year. The r¢s¢eS over and above thosè needed to meet the core &)sls are belng held lo fund, 1rt8ro1b.' 118 numb8r of decades.long yojeetg to the Trn8118 commltted lflndlng and Iralnln9 the noxt Akong Rlnpoche., the long-lerm rnaintenance of hls Monastery in Tibel.. supporting sangha member8 enlerlng life4ong relreall,. Jnd 21 a number of ¥horter-terrn bul costly 'on&off proieds. These indude Ihe renovallon of 9uesl-hou$e accommodation lo meet ¢uffent standards of Snsul8tion and comfort, and Ihe development ol $0181 and wlnd piojecls, whlch 11 laciliiale Ihe TNsl'8 mlgrallon lo envlfonmenl8lly-fn'endly energy sources more In keeplng 1h ils Buddh151 elhScs and Ihe vislon of 11$ founder. Akon9 Rlnpoch¢. Plans for futur• perlod8 For 2025, Samye Llng 18 organislng a very lull programme of Oharma JclMti¢$. In¢luding extended le8ching8 by learned and experienced Buddhisl s¢hol8r8 from Indla and Nepal. There are plans al Samye Ling and Holy Island to Increase our organic vegelable garden production, lo feed our gue818 and re8N1enl volunteers. A¢ Samye Lln9 w are hoping that thanges lo the Scottish Power grid conslrainls will enable us lo reallse our plans to develop a large arr8y of solar panels. This wll help lo reduce the Tnjsl's reliance on fossil fuels and allow us lo geneiate deaner. suslalnable energy. Tru•tfjos' mpon8lbllltl•s Sn f•latlon to tho Ilnanclal Bt•tern•nt8 Company law requlres Ihe Iruslees, as directors, lo prepare financJal slatemenls for eath finan¢lal period vthi¢h giv¢ a true and fair wew ol the state of the affairs and ol the surplus or deficit ol the company for Ihal perlo(J. In preparing those fin8nual slalemenls Ihe Iruslees a required lo select suitable accounllng policies and then apply them ¢on$lslenlly, make judgements 8n¢J eglimales that a 3$onable and prudent and stale whether applicabla accotJnlln9 slan¢Jards have been followed. subject to any rnalerial departures di8closeiJ and explalned In the flnanclal stalemenls. and prepare the financial sl8lemenls on Ihe going concern basis unless il is inapproprlate to presume Ihal the company wll Gontiwe in operalional existen¢e. The Iruslees are responslble for malnlalnlng suitable accounbng records ¥thich disclose Nhilh reasonable ac¢xJracy al any lime the financial po811ion of the company and lo enable Ihem lo ensure thal the financial statements comply ¥th the Companies Acl 2006. Tl*y ale 8180 responslble lor safeguardlng the assels of the company and hence lor laklng reasonable steps for the prevenllon and dele(Xion ol fraud and other irregularities. Conttnuedl Page 7
Rokpa Trust R•port of the Twstees and Directors for the year ended 31 December 2024 conllnued In accord8ncE wth company law, as company directors, we certify that so far as we a aware there is no relevant audit infomalion of which the company's audrtors are unaware. We further ¢ertify that we have taken all the steps that we ought lo have laken in order lo make ourselves aware of any relevant audit infomialion and to establish that the charity's auditors are aware of that infomation. Auditors A resolution will be propoged al the Annual General Meeting Ihat Dodd & Co Audit Limited be re- appointed as auditors of Ihe charity for the ensuing year. On behall f the board Dale.. Zsl f) z5 Ab ot Lama Yeshe Losal Rinpoche Page 8
Indepèndent Audltoffs Report to tho Mombers and Trustees of Rokpa Trust lor the year ending 31 Decwnber 2024 Oplnlon We have audited the financial slatemenls of Rokpa Tru51 for the year ended 31 Decembei 2024 which eomprige the Consolidated Slalemenl of Financial Actiwlies, the Charity Slalemenl of Finandal Aclivilies. the Charrty Balance Sheet. the Consolidaled Balance Sheel. Ihe Consolidaled Cash Flow Slalemenl and Ihe related notes. induding a SLNnmary ol slgnificorit aoUntIng policie5. The financial reporting framework that has been applled In their preparalion is appllcable law and Unlted King¢Jom Accounting Standards. including Finaneial Reporling Standard 102.. The Financial Reporting Standard applicable Sn Ihe UK Republic of Ireland (Vniled KSngdom Generally Attepted Accounllng Practice). In our opinion. the financi81 slalemenl$-. gSve 8 true •n¢J falr eW ol Ihe slate of Ihe group's ¥nd parenl chorilable companyy affairs as a131 December 2024 •nd ol group's Income and expendmure for Ihe ygar then ended: - have been Pfoperty prepared In accordance with Uniled Kingdom Generalty Aecepled A¢eountlng Practice.. have baèn prepared in aeeordance with the Companies Act 2008. Ihe Charilies Ad 2011 88 8mende(I by the Charllles Acl 2022, the Charitses and TNslee Investment (Scollandl Acl 200$ and regulaliijn 8 of Ihe Chafitles Accounts IS¢ollandl Regvlalions 200618$ amended). B••l¥ for oplnlon We COnfJucted our audit in accordance %wth International Slandards on Audillng IUKI IISAS IUKII and appllcable law. Our iesp01131billlles under those 918ndards are lurthef dèscribed in Ihe Auditor's responsibilities lor the audll ol the financial slalemenls section ol our Port. We are independent of Ihe Charlly in accordanee wlh Ihe ethical requlremenls Ihol are relevonl lo our audll ol lh• financial slalemenls in Ihe UK, Inclu¢lng the FRC'S Elh1¢81 Standard. and th8 provlslons available lor small entitles, in the clrcum8lance8 sel In note 1 10 the financbal stalements. and we have fulfilled our olher elhlcal responslbllllles In a¢cor¢an¢e vAlh these requSrements. We belleve that lh8 8udil evidence VK have obtained Is sufficlent and appropriate lo provide a basi8 for our oplnlon. Conclu8lon• r•l•tlng to golng ¢onGgrn In oudlllng Ihe flnanclal 51atemenls. we have concluded Ih81 the members use ol Ihe goln9 ¢oncem bo118 of accounllng In Ihe preparation ol the flnand•l 8tstsment$ 1$ approprtaie. 8a8ed on ihe Wofk have Pfeformed. we have nol idenlified any material unceriainlies relating lo the events or ondilions Ihal. individually or eolleclively, may casl $19nificanl doubl on the charllls abilily to continue as a going concern for o perlod of al leasl Iwelve monlhs from when the origlnal financial slalemenls were 8ulhorlsed for 15¥1J•. Ouf responsibilllles and Ihe re$ponslbllillg9 of the Iru¥tee$ wiltt respect lo golrwj corKem are descdbed in the reievanl sections ol the report. othor Inlormatlon The trustees are responslblè for Ihe olhei Infomallon. The other Infom)8llon comprlses the tnformallon Included In the annual report other than Ihe financlal 5talementS 8nd our aut11ior's report Iher&on. Our opinlon on Ihe financial slalemenls does not cover the other information and. excepl lo the exlenl olrlSe explicilly slated in our report, we do nol express any form of assur8n¢e concluslon there¢. In connection wilh our aj11 of the financial slalements. our responslbllity is lo read the other informalion and, In oing 80, consiijer whether Ihe other Informalion is materially inconslsienl wlh the financial slalement¥ or our knovAedge oblaln•d In Ihe auOII or otherwise appears lo btt materially mlsstated. Page 9
Independent Auditofs Report to tho Membern and Trustees of Rokpa Trust for the year endlng 31 December 2024 If we identfy such material inconsistencies or apparent m8lerial misslatements, we are reqUId to determine whether there Is a materfal mlsstalemenl in the financial slalemenls or a material misstatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other mattors prescrfbed by the Companle8 Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report lincorporallng the strategic report and Ihe dlreclors, report) for the financial year for which the financial statements are prepared is consislenl with the financial statements,. and Ihe Irustees, report Ilncorporatlng th8 Strateglc report and the directors. report) have been prepared In accordance wrth applicable legal requirements. Matters on whlch we ore requlred to report by exeeptlon In the light of the knowledge and understanding of the Charity and Ils environment obtained in the course of the audit. we have not identified molerial rnisstatemenls in the Truslees, Annual Report. We have nothing io report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo you if. in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us.. - the financial statements are not in agreemenl with the accounting records and relums: - certaln disclosures of trustees, remuneratlon specSfied by law are not made,. or - we have not obtained all the information and explanations necessary for the purposes of our audit. Our objectives are to oblain reasonablè assurancè about whelher thè financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high lèvel of assuranc8. but is not a guarante8 that an audit conducted in accordance with ISAS {UK) wll always delecl a material misstatement when it exlsls. Mlsstalemenls can arise from fraud or error and are considered fflaterlal. rf indlvidually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatemenls. A further descriptlon of our responsibilitles for the audlt of the financlal statements Is located on Ihe Financial Reporting Council's vbsIte at www.frc.org.uklauditorresponsibilitl6s. Thls de5CriPtion forms part of our auditors report. Responsibilltles of the trustees As explalned more fully in the trustees, responsibillties statement sel oul on page 7, the trustees are respon61ble for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as they determine is necessary to enable the Preparation of financial statements Ihat are free from material misstatement, whether due lo fraud or error. Page 10
Independenl Audltof8 Report lo the Members and Trustees of Rokpa Trust
forlhe year ending 31 December 2024
In preparing the financial statements, the trustees are responsible for assessing the Charitvs abilty to continue
as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis
of accounting unless the trustees either inlend to liquidate Ihe Charity or lo cease operations, or have no realistic
altematlve but to do so.
Our responslbllltles forthe audit of the financial statements
We identify and assess the risks of material misstatement of the financial slatements. vthelher due to fraud or
error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence
that is sufficient and appropriate to provide a basis for our oplnlon.
In identfying and assessing risks of material misstatement in respect of Irregularltles, indudlng fraud and non-
compliance with laws and regulations, V considered the folloving..
results of our enquiries of management about their OWD identlfi¢8tion and assessmenl of the risks of
irregularities.,
any matters we idenlffied having obtained and reviewed the charttWs documentation of their policie6 and
procedures relating to.,
Idenlifying, evaluating and complying with laws and regulations and whether they are aware of any
instances of non
Independent Auditor's Report to the Members and Trustees of Rokpa Trust for the year ending 31 December 2024 Use of this report This report is made solely to the membets of Rokpa Trust, as a body, in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so thal we might slate lo the charit5 members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibilty lo anyone other than Ihe Charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Joanne Thomllnson FCA Senior Statutory Auditor For and on behalfof Dodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate Carlisle CA1 2RW Date.. ... Page 12
Rokp• Tru•1 consolldated Stat•ment ol Fln•n¢lal A¢tlvltl•s Ilncofporatln9 In¢om9 and expendlture account} For tho Yèar Ended 31 Docember 2024 31.12.24 31.12.23 Restrkl•d Unrngtrlcted Tot*1 R¢strict•d Unrestrictwi ToLg1 Ineom• from: Donation$ and legacies Other trading acbvities Investments Lxaril8bl& 8Cb¥illèS 133.847 865.049 477.014 104.842 916,793 998,896 477,014 107,962 916,793 143,487 305.280 399,537 46,895 918.116 448.747 399,537 49.482 918.116 3,120 2,$87 Tol#l Incom• 136967 2 383,898 2,500,665 1689,828 1815882 EMpenditur• on: Raising fund5 Charitablè acti1[•3 9,918 8.882 97.842 107,758 1,486.084 1,474,966 10,420 190,140 93.823 1,335.315 104,243 1,525,455 Totsl •xp•ndltur• 18.798 1.563,926 1,582,724 200,S60 1,429.138 1,629.698 N•¢ In¢om• I l¢xp•ndltur•l 118.169 799.772 917,941 54,506 240,690 188,184 T1•1S belween funds Not movem•nts In fund¥ 118.169 799.772 917,941 54,506 240,690 186.184 Fd$ brought for4¥0rd 977.985 27,316,926 28,294.911 1.032,491 27.076.238 28,108,727 FdS ¢arrfed forwa((I 18 1,096.154 28 116.698 29,212,852 77,985 27,316.926 28,294.911 Page13
Rokpa Trust Charlty Statement of FlTran¢ial Aetivltl•$ IlncoTporJtlng In¢orng •nd xp•ndltur• account) For the Y•ar End 31 Doc?mbgr 2024 31.12.24 31.12.23 R•strlct•d Unr•strl¢t•d Total Re8trlct•d Unwstrlcted Total In¢om• from: tjonatlons and legacies Other trading actlvltlo$ Inves¢men15 Charitable aCtItieS 133.847 1,073.189 1.207.038 248.059 246.059 104.842 107.962 916.793 916.793 143,467 397.761 222,429 46,895 918,116 541,228 222,429 49.482 918,118 3.120 2,587 Total In¢om• 136.967 2,342,883 2 479,850 146 054 1,585 201 1 731.255 Exp•ndltur• on.. Raising Chafltable actlvilie 9,918 8,882 2,689 12,605 1,465.4d7 1,474,329 10,420 190,140 2.784 1,335,155 13.204 1,525.295 Total 0xp•ndlrn 18,798 1.468,136 1.486,934 200.560 1.337.939 1.538,499 N•1 In¢om• I l•xp•ndbturnl 118,189 874.747 992,918 54.508 247 262 192.756 Transfers befvn lund$ N•t mov•ments In fund• 118,169 874,747 992,916 S4.506 247.262 192,758 Funds brought foMard 977,985 27,225,231 28,203,216 1.032.491 26,077.989 28,010,460 Funds cathed fop8rd 18 1,098,154 28.099,978 29,196,132 977,985 27,225,231 28,203.216 Page 14
Rokpa Trust Group Balance Sheet a8 at 31 Decembor 2024 Company number- 3260031 31.12.24 31.12.23 Flx•d assots Tangible assels 10 20.450.378 20,589,604 Current assets Stocks Debtors Investrnenls Cash al bank and in hand 264.867 12 587,145 13 1,567.349 6 459.342 237,546 71,166 85.000 7,437,256 8,878,703 7,830.968 Creditor8: Amounts falllng due wlthln on• year 14 76.167 125.390 Net current assets 8.802.536 7,705.578 Tolal as$•ts1é88 ¢urr•nt Ilabllltles 29,252,914 28,295,182 Cr•dltor•: Amounts falllng due aft•r mor• than one year 15 {40,0001 1751 Provl$ions for liabilities and charges 16 (621 {1961 29,212,852 28.294,911 Funds and rèiarve8 Restricted funds Unstricted funds 18 18 1,096.154 28,116.698 977.985 27,316.926 9,212,85 28,2 The notes form part of the financial slalemenls. The financial slalemenls ware approved by the Board and were signed on rts behalf by.. Tsults P Ibar Lama Page 15
Rokpa Trust Company Balance Sheet as at 31 Decomber 2024 Company number- 326fJ)31 31.12.24 31.12.23 Fixed Assets Tangible assets Investrnents 10 20.4SO.107 20.588,696 20,450,111 20,588,700 Current assets Stocks Debtors Investments Cash al bank and in hand 8.985 12 1.130,910 13 1,567,349 6,150,084 10,510 474,612 85.000 7.164.580 8,857,328 7,734,702 Cradltors: Amounts falllng due wlthln ono year 71,307 120.111 Net curront assets 8,786.021 7,614,591 Total a8s•ts10s8 cufmnt Il#bllltlo8 29,236,132 28,203,291 Crèditors: Amounts falllng due aftar moro than one year 15 (40,000) (75) 29,196.132 28.203.216 Funds and ros•rv•J Restricted funds Unreslrlcled funds 18 18 1,096.154 28.099.978 977,985 27.225.231 29,196,13 8,203,216 The notes form part of the financial slalemenls. Th• financi81 st8temenls wer• approved by the Board and 1¢ 31gned on ils behalf by.. Tsulti P Ibar Lama Page 16
Rokp• Trusl Group Cash Flow Statement as at 31 December 2024 31.12.24 31.12.23 Not• Cash flow8 from oporallng •¢tlvltl•B: Net e•sh provlded by operating •ctivitles 20 11.085.876) 1,390,881 Cash nows from inv•8tlng adi¥itiK: DNidends. Inl•re818nd ren18 Irom inveslmenls Proceeds from the Sale ol property, plant and equlpmenl Purchase ol propety, planl and equipment Transler ol a5se15 to propety, plant and equipment N•1 cash used In Invesllng activitiés 107.982 49,482 113,3601 672,632 1636,1301 107,962 ¢h flows frvm flnanclng a¢ifvitl••: Repaymenls ol borrowlngs Nel cash used In fln•n¢lng •cUvlUes Chang• In ¢18h •nd cash oqulvalents In th• roportlng rtod 21 1977.914) 754,751 Cash and cash •quivalonts •t th• b•glnnlng of tho rgportlng p•rlod 21 7,437,256 6.882,SOS C•$h and cash •quSvil•nt• *t th• •nd ol the r•portlng flod 21 6,459,342 Page 17
Rokpa Twst Notes to Iho linancial ststements 31 Do¢ember 2024 1 Accounting poli¢i¢$ The accounts (financial slalemenlsl have been prepared in accordance with the Statement ol Recommended practi.. Accounting and Reporting by Charitie5 preparing their accounts in accordance wilh the Financial Reporting Stsndard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Finanaal Reporting Standard applicable in the United Kingdom and Republic ol Ireland {FRS 1021 and Ihe Charities Acl 2011 as amended by the Charilies Act 2022 and UK Gènerally Accepted Accounting Practice as il applies fiom 1 January 2019, the Charities and Trustee Investment Iscotlandl Act 2005 and regulat'on 8 of the Charilies Accounts (Scollandl Regulations 2006 las amended). The •c¢ounts Ifinan¢ial 51aternenlsl have a150 been Pfepared in accordance with Ihe CoMpanS Act 2006. Bas1• of preparatlon The Charity meets the definition of a publi¢ benefit entity under FRS 102. Golng ¢onc•rn Tho$8 financial $lalement$ h•ve been prepared on a going concern basls. The Trustees regulady review the financial position of the charity. and a6 such are satisfied that there are no material uncertainli85 about Ihe charity's ability lo continue as a going conLxrn. Company $tstu8 Tho company is a charitable company Ilmil8d by guarantee, Incorporated in England and Wales. Principal pl8e* ol bu6ine88'. Samye Ling Tibetan Cenlre E$kdalomuif Langholm DG13 OQL Tanglble flxed assgts All ¥55Qts wilh on expgclfjd useful life excgeding one y•ar ar• capilalised in the balanc• sheet. Tangible fixed assets other than lieehold and heritable land af¢ slated al cost less depreciation. Depr¢cialion is provided at the followin9 rates lo wrile off Ihe cost less reshlual value of each asset over its expected useful e¢onomi¢ lrfe.. Bulldings 0% Building impiovements 1 S% reducing balance Archives OYO Templ8 fitting$ ond equipment 0% Refurfotshmenl co$t$ 20% slraighl line Equipmenl 15% reducing balance Fixtures and fitting8 15% ieducing balanr Molor vehi¢le5 25% reducing balance Computer equipment 33% straight line Office equipment 15% reducing balance Plant and machinery 15% reducing balance No d8precio1ion ho$ been provided on temple fittings and archive6 as, in the opinion of the Iruslees, the carrying value is al least equal to Origin81 cost. Depreciation is only chafged on additional property improvements al rale of 150/0 reducirbg balance. In the opinion of the trustees any depreciation on Ihe buildings element of land and buildings would be immaterial. The carrying value of freehold and herstsble property is reviewed on regular basis and any impaimienls will be recognised. Page 18
Rokpa Trust Note8 to the Ilnanclal slatem¢nts 31 December 2024 1 A¢counllng poli¢ie$ contlnued Liabilities Trade credllors are obllgations lo pay for good5 Qr servlces that have been acqulred In the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period. to defer selllement of the credilor for at least twelve months afier the reporting date. If there is an uncondrtional right to defer settlement for al least twelve months after the reportin9 dale, they are presented as non-currenl liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Flnanclal In8trument$ Financial assets and financial liabilities are recognised when the Ghanty becomes a paty lo the conlraclual provlsSons of the instrument. Financial liabilities and equrty inslruments are classifièd according to the substance of the conlraclual arrangements entered into. An equity instrument is any contract that evidences a residual Interest in the assets of the Charity after deducting all of its liabilrties. All financial assets and Ilabilities are inltlally measured al transaction price (including transaction costs), except for Ih05e financial assets classified as at fair value through profit or loss. ¥thich a initially measured al fair value (which is normally the transaction prSce excluding transaction costs), unless the arrangement constilules a financlng Iransaclion. If an arrangement constrtules a financing transadion, the financial asset or financial liability is measured at the present value of the futu payments discounted al a market rate of interest for a similar debt Instrument. Financial assets and liabilities are only offset in the slalement of financial posilion when, and only when there exists a legally enforceable righl lo sel off the recognised amounts and the Charity intends either to setue on a net basis, or to reallse the 8ssel and settle the liabillly slmultaneously. Flnancial assets are derecognised when and only when a) the conlractual rights lo the cash flows from the financial asset expire or are settled, b) Ihe Charity Iransfers lo anolher party substantially all of the risk$ and rewards of ownership of the financial assel, or c) the Charity, despile having retsined some, but not all. slgnthc4nl rlsks and wards ol ownership. has tranSferd control of the asset lo another party. Financial liabilities are derecognised only when the obligallon specified In the contract is discharged, canrRlled or expires. Funds The Charity operates restricted, unreslrict8d and designated funds. Reslricled fvnds are those where the donor Is specific 8S to the use to which the funds are lo be put. Unrestricled funds are Ihose where the charity is free to expend Ihe funds in accordance wrth the constitution. Designated funds are those set aside for a specific purpose by the Tru51ees. Investments Fixed asset investments are staled at cost. Current asset investments are Included al fair value and include any short-temi, hlghty liquid assets. Page 19
Rokpa Trust Notes to the financial statements 31 December 2024 1 Accounting policies continued Stock Stocks and work in progress are valued on a first in first out basis al the lower of cost and net realisable value. Incomè Income is recognised when the conditions of probability, entitlement and measurement have been met. The accounlin9 policies for specific types of income are sel out below.. Accommodation, rental incom•, course fees and course donations 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 meel the conditions for recognition al the year end are included in creditors lo be carried forward to the following year. Donation8 and legaci08 The value of income from donations and legacies accruing to the charity are recognised as soon as it is prudent and practicable to do so. Such income is not Cognised until the conditions for receipt have been met and there is probabilily of receipt. Furthermore, the ¢harrty considèrs that the factors of èntitlement, probability and measurement must be mel before taking account of this income. Expendllure Expenditure is accounted for on the accruals basis. Wherever possible, expenditLJre is classified accLirding io Sts usage. Where this is not Possible. costs are allocated according to the primary activity of the branch which has incurred that expenditure. The costs which cannot be allocated directly are shown as support costs in the Statement of Fin8ncial Activities. Where expenditure felales lo a specific project il 18 allocated to that project as restricted expenditurè. Deferred tax Deferred lax is recognised in respecl of all timing differences Ihal have originated but not reversed at the balance sheel dale. Consolldation The consolidated accounts include the accounts of the charity and ils subsidiaries. all of which are prepared to 31 December 2024. The results of the subsidianes have been included in the consolidated Statement of Financial Acts'vities from the date of acquisition. Irr•coverable VAT Irrecoverable VAT is charged against the calegory of resources expended for which it was incurred. Support costs Support costs indude central functions and have been allocated to activity cost categorles on a basis consistent with the use of resources. Page 20
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 2 Donatlon$ and legacies 31.12.24 Restricted Unrestricted 31.12.23 Total Total Donations Legacies Stupa ashes Grants 109,602 10,006 316.366 538,943 9,740 425.968 548.949 9.740 14,239 998,896 355,024 39,468 4.175 50,080 448,747 14,239 133,847 865,049 3 Other tradlng actlvltles 31.12.24 Re$tri¢ted Unrestricted 31.12.23 Total Total Fundraising evenls Room hire & rental income Sales & café income Miscellaneous income 8.445 237,672 228,955 1,942 477,014 8,445 237,672 228,955 1,942 477,014 11,750 206,170 177,416 4,201 399,537 4 Investments 31.12.24 Rostricted Unrestricted 31.12.23 Total Total Bank interest 3.120 3.120 104,842 104,842 107,982 107,962 49,482 49.482 Page 21
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 S Charitable activities 31.12.24 Restricted Unrestricted 31.12.23 Total Total Course lees and donatn$ Spiritual Health & education 46,796 4.754 46,796 4.754 48,838 3,468 Total course lees and donatlons 51,550 51,550 52,306 Accommodation & treat Spiritual Health & education Total accommodalion 640,561 214.199 854, 760 640,581 214,199 854. 760 671,231 193,171 864,402 Other income 10,483 916,793 10,483 916,793 1,408 918,116 Page 22
Rokpa Trust Note8 to the accounts For the Year Ended 31 December 2024 6 Expenditurn 31.12.24 Raising Spiritual Health & funds Education 31.12.23 Total 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 2.478 2,939 3,501 5.417 7.802 5,484 4,489 11,293 4,424 146.996 95,153 2,571 56,596 883 2,745 8.678 6,883 158,629 91,039 4,547 92,619 145,302 302,900 23,763 409,120 6,184 4,301 5,484 4,432 57 6,861 829 124.315 4,432 3,384 22,681 211 95,153 133.784 26,097 232,138 22.698 267,044 133,784 115,292 141,389 49,486 281,624 2,640 25,338 1,082 268,126 7.824 7,824 Total direct costs 107, T58 818, 124 213,261 1, 139, 143 1,312,459 Page 23
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 6 Expenditure (continuedl 31.12.24 Raising Spiritual Health & funds Education 31.12.23 Total Total Support costs Offi¢e expenses Insurance Depreciation Finance costs Repairs & maintenance Consumables Sundry Subscriptions Motor & travelling Legal & professional Loss on disposal of assets A¢¢ountancy & audit Advertising & publicity Room hire 42.761 37.078 135.668 8.017 41,990 5,779 969 13,775 56,536 12,284 49.362 3,559 139.227 1,839 9.858 40,587 82,577 2,868 8,647 1,185 2,154 3.230 3,230 51,599 6,399 56,876 80,346 45,135 27,223 36,114 4,836 2,545 4.207 16,448 8,013 704 25.068 724 9.000 51,599 2.161 4.238 20,591 1,320 83 12,000 21,911 83 12,000 Total support costs 346,613 96, 968 443, 581 317,239 Totsl expenditure 107,758 1,164,737 310,229 1,582,724 1,629,698 Page 24
Rokpa Trust Nole8 to thè a¢tounts For the Year Ended 31 December 2024 7 Net incoming resources 31.12.24 31.12.23 Net incoming resources are slated after charging.. Depreciation of tangiblè assets Auditor's remuneration for audit servlce8 Auditols r8muneratson for nonvaudit servlces 139,227 16,550 2.850 45,135 18,450 2,925 8 Staff costs 31.12.24 31.12.23 Gross salaries & wages Employerfs national insurarir Pension Contributions 111,588 3.431 2,157 117,174 109,254 3,970 2,230 115454 31.12.24 31.12.23 No Staff numbers No employèes earned £60.000 or more during the year. 9 Flxod a8•ot Inv•8tmonts Shares in subsidiary undertakings at cost.. Com 2024 2023 Holding Rokpa Developments Limited KSDL Trading Limrted 100Vo 1000 Rokpa Developments Limited is registered in Scotland. KSDL Trading Limited is registered in England & Wales. Page 25
Rokpa Trust Notes to the account$ For the Year Ended 31 DKember 2024 10 Tanglble flxed assots Land and Buildings Plant and Machinery Total Group Cost At 1 January 2024 Additions Disposals At 31 December 2024 21,158.403 999,372 22,157,775 21,158.403 999,372 22,157,775 recia At 1 January 2024 Charge for year Elimination on disposal At 31 December 2024 852,198 111,366 715,973 27,861 1,568.171 139,227 963,564 743,834 1.707,398 Net Book Valu At 31 December 2024 At 31 December 2023 20.194,839 20,306,205 255,538 283.399 20,450,378 20,589.604 Company Land and Bulldlng8 Plant and Machlnory Total ost At 1 January 2024 Addrtions Disposals Al 31 December 2024 21,158,403 954,629 22,113,032 21,158,403 954,629 22,113,032 reci Al l January 2024 Charge for year Elimination on disposal At 31 December 2024 852,198 111,366 672,138 27,224 1,524,336 138,590 963,564 699.362 1,662.926 At 31 December 2024 At 31 December 2023 20.194.839 20.306,205 255.267 282.491 20,450.107 20.588,696 Page 26
Rokpa Trust Notes to the accounls For the Year Ended 310ecernber 2024 11 Stocks Grou 31.12.24 Com 31.12.24 31.12.23 31.12.23 Goods for resale 264,867 264,867 237,546 237,546 8,985 8,985 10,510 10,510 12 0ebtoT¥ Grou 31.12.24 Com 31.12.24 an 31.12.23 31.12.23 Amounts owed by group undertakings Other debtors 543.765 587.145 1.130,910 403,446 71,166 474,612 587,145 587,145 71,166 71,168 13 Invèstmènts Grou 31.12.24 om an 31.12.23 31.12.23 31.12.24 Cash or cash equivalents 1,567,349 1,567,349 85,000 85,OC() 1,567,349 1.%7,349 85,000 85,000 Page 27
Rokpa Trust Noleg lo the accounts For the Year Ended 31 December 2024 14 Cfeditor8: amounts falling due wlthln one year Grou 31.12.24 Com 31.12.24 31.12.23 31.12.23 Accruals Taxation & social security Other creditors Deferred income 15.000 26,869 34,223 75 76,167 15,000 40.825 65,305 4,260 125.390 15.000 22.009 34.223 75 71.307 15.000 35.546 65,305 120,111 Deferred income brought forward Released to income during year Deferfed in year Defed income carried forwdrd 4,260 14,2601 75 75 15 Creditorn: amounts falling duo aft•r ono year Grou 31.12.24 Com 31.12.24 31.12.23 31.12.23 Olher ¢reditor5 Oelerred income 40,01)0 40,000 75 75 75 75 31.12.24 Deferd income broughl fopward Released to income during year Deferred income Carried fofyvard 75 75 16 Provlslons for Ilabillt•s and charg•8 31.12.24 31.12.23 Deferred taxatr'on - accelerated capital allowan$ 62 196 Deferred Balance at 1 January 2024 Accelerated capital allowances Balan al 31 December 2024 196 1134) 62 Page 28
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 17 Group and R•l•ted P•rty Transactions TTansaction$ entered into with companies within the group are as follows Com 2024 2023 Rokpa Ofjvelopment5 Ltd - a wholly owned subsidiary lindud8d in the consolidated account$) Company number.. SC148413 Donaliong under Gift Aid Nel assets Turnover Pfofiv ILos$l 100.019 16.720 168,542 99,516 72,956 17.223 134,913 76,130 Samye Ling Tibetan Cenlre E8kdalemuir Langholm DG13 OQL Rokpa Trusl provided Rokpa Development8 Lld wllh a loan of £290,OLN). Inleresl has been charyed on the loan at 2.5% 10 19 April 2025 and 5Vo Iherefter. KSDL Trodin9 Ltd - a wholly owned subsidlary (included in the consolidated a¢¢ounls) Company number.. 11565160 Com 2024 2023 Donations undèf Gift Ald Net assets Turnover Profiu ILo$J) 31.188 19,S25 60,413 31,188 42,195 19.S25 Principal place of business.. 15 Spa Road Bermondsey SE16 3SA Rokpa Trust provided KSDL Trading Ltd with a108n of £84,222. Interest has been charged on the loan at 4.5%. The charity provides accommodation and the means of subsi8len¢e lo somè ol the ordoinéd community Ilhe Sangha). As beneficiaries, Ani Lhamo, Abbot Lama Yèshe Losal Rinpoche. Lama Elise Kristine Sylvest Jacobsen and Tsullim Palbar Lama, received board and lodgmgs in Iheir ¢apathty as ordained Sangha rnembgrs, bul nolhing in their rol8 as Iruslees. No expenses We paid lo Iruslees during the year. Abbol Lama Yeshe Losal Rinpo¢he is a Iruslee of both Rokpa South Alrica and Rokpa Trusl UK. £200.000 was transferred to Rokpa Gauleng South Africa for the ¢onstruclion of the Joh8nne5burg Temple. There was £1.040 received from trustees of Ihe ¢harity through regular giving and one-off donations. Sean McGovern is a director of the Mindfulness A6socialion. durlng the year they have been invoicèd £30,11712023 - £15,238) for room hire. Page 29
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 18 Funds 8alanca at In¢oming 1.1.24 Resources Outgoing Resources BJlJnGe ot 31.12.24 Transfo Group Restricted tunds Reslri¢ted grants Akong Memonal Foundation Other restricted funds 4,182 606,480 367.323 14.239 93,572 29.156 14,1461 (1,9081 12,744 14,275 698,144 383,735 Tolal Trstnct6d funds 977,985 136,967 (18. 798) 1,096, 154 Dgslgnjtgd funds Religious teachers fund 84,000 84.000 Unrestricted funds 27.232,926 2,363,698 (1,563,926) 28.032,698 28.2 2,500,665 1,582,724 29.212,852 Prlor year funds Group Balanc• at Incomlng 1.1.23 Re#ouree8 Outgolng Resource$ Balance at 31.12.23 Transfers R•$trl¢ted lund• Restricted grants Akong Memorial Foundallo Other feslricted funds 47.820 80.386 17.848 (43,638) 1135,6771 21,245 4,182 608,480 367,323 861,771 370,720 Total r•slricled lunds I,Q32,491 146.054 (2tYJ.560J 977,985 D•slgnat•d fundi Religiou5 leacheis fund 84,000 84,000 Unrostrlct•d funds 26.992,238 1,669,828 11,429,138) 27.232,928 28,108,7 ,815,8 1,629,698 28.294,911 Pa9e 30
Rokpa Trust Notes to the accounts For the Year Ended 31 Oecembgr 2024 18 Funds Balancg at 1.1.24 Incoming Resources Outgolng Resourcès Transfers 8alanee at 31.12.24 Company R•8trlct•d fundg Reslricled grants Akong Memorial Foundatlon Other ré$lneled funds 4,182 606,480 367,323 14,239 93.572 14,146) 11.908} 12.744 14.275 698,144 383.735 Tol81 restncted lunds 977,985 136,967 {18, T98) 1,096, 154 D•slgnated funds Religiou¥ teachers fund 84,000 84,000 Unrestrlcted funds 27.141,231 2.342.883 {1,468.136} 28,015,978 28.203,216 2,479,850 1,486,934 29,196,132 Prlof year funds Company 8Jl¥ncè at 1.1.2J Incomlng Rgsour¢ Outgolng Resources Translern 8alanco al 31.12.23 Restrfctod funds Rèslricled gran16 Akon9 Memorial Foundation Other restricted funds 47,820 80,386 17.848 {43.6381 1135,6771 21,245 4,182 606.480 367,323 661.771 370.720 Tot81 reslri¢led funds 1.032,491 146,054 {200,560J 977,985 Designated funds Religious t¢achefS fund 84,000 84,000 Unrestricted funds 26,893.969 1,585,201 (1.337.939) 27,141,231 28,010 460 1,731.255 1,538499 28 203,216 Page 31
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 18 Funds {contlnuodl The following funds are considered to be re51ricled and lo be used for spgcific PUTpose6 either laid down by donors or by the terms of particular appeals or agreements: Akon morial Foundation The Akong Memorial Foundation, administered by Rokpa Trust. has the follong objectlves= 1. To preseNe and promole the teachings and vnrk of Akong Tulku Rinpoche and to ensure the transmission of his lineage to Ihe Third Akong Tulku. 2. To pay the expenses of lamas who are preserving and promoting his lineage. 3. To provide finance forthe development of his monastery in Tibet, Dolma Lhakang. and also nunmries. old people's homes, schools and other Institutions connected lo Dolma Lhakang. 4. To build stupas al Dolma Lhakang and Kagyu Samye Ling in his memory. 5. To finance the finding and recognition of the Third Akong Tulku and to provide for his educatlon and Upbringing. 6, To sponsor prayers lor the swrft return of Akong Tulku. Other R8slricled Funds Funds raised for projects established at Kagyu Samye Ling for the furtherance of Buddhism and other funds where Ihe donor has placed reslriclions on the use of the funds provided, RestTi nl Grants received for restricled purposes such as planting a woodland on Holy Islè and at Glen$¢orrod81e. nated Fund5 The trusteés have deslgnated lunds for the support of the Tlbelan Lamas and other religlous leach8r8 to pursue a religious life. 19 Net assets by fund Restrlctèd funds D•#lgnatèd Unr¢strl¢ted fund• fundg Total fundg Group Fixed assets Ctsrrenl Assets Credrtors due wrthin one year Crgdttors due after one year 20,450.378 7,698,549 176.1671 40,062 28.032,698 20.450,378 8.878,703 176,1671 40.082 29,212 852 1.096.154 84.000 1.096 154 84.000 Page 32
Rokpa Trust Notes to the accounts For the Year Ended 31 December 2024 19 Nèt assets by fund (continued Restrlcted funds Deslgnated funds Unrestrlcted fund3 Total funds Company Fixed assets Investment assets Current assets Creditors due within one year Creditors due after one year 20,450, 107 20.450.107 1.0,154 7,677.174 {71,707) 40,000 28,015.978 8,857.328 (71,3071 40,C( 29,196,132 1,096,154 Prlor year net assets by fund Group Restrfctod funds Deslgnated funds Unrestrlcted funds Totsl funds Fixed assets Current assets Creditors due within one year Creditors due after one year 20.589,604 6.768,983 {125,39)} 271 27,232,926 20.589.604 7,830.968 (125.3901 1271 28,294,911 977,895 977,895 Restflcted lund8 De81gnat•d funds Unfe$trl¢led lunds Total fund8 Company Fixed assets Investment assets Current assets Credilors due within one year Creditors due after one year 20,588,696 20,588,696 977,895 6.672.717 (120,1111 {75 27.141,231 7,734.702 (120,1111 75 28,203,216 977,895 84,000 Page 33
Rokpa Trust Notss to the accounts Forlhe Year Ended 31 Decernber 2024 20 Roconclllatlon of net incomell•xp•ndlturo} to net ca•h flow from OlatIng aCtlvStle8 2024 2023 N?t In¢omel{•xpendlturel for th• reportln9 perlod (as per the statement of financial activities} 917.941 186,184 Adjustments for: Depreeiation Dividends, interest and rents from investments Lo¥sllProfill on sale ol fixed assets {Increaselldecrease in inveslm8nls {In¢reaselldecTea5e in olhÉr assèts {Inoreaselldecrease in stocks {Increaselldecrease in debtors In¢reaselldecreasel in creditors Increaselldecreasel in PTOV15ions Net cash provided by operating a¢tlvlti•s 139,227 1107,962) 45,135 (49,4821 704 765,000 672,632 1113,7471 28.274 1144,0151 196 1.390,881 (1,482.3491 127.3221 {515.9791 (9.2981 134 {1,085,8761 21 Chang•s Sn net debt At1 January 2024 At31 Dèeombèr 20Z4 Cash flow8 Cash and ca•h equiYal•nt• Cash 7,437,258 1977,9141 6,459,342 Totsl 7,437.256 1977.9141 6.459,342 22 Financial commitsTrents In 2021 Rokpa Tru51 cornrnitted lo pay £1.5 million towards the buildin9 of a Labrang on the Ced8rp8ak Roserva. £nil was paid dunng 2024 towards this commrtmenl {2023- £112,000 and 2022- £850,000). In 2021 Rokpa Trust also commilled to pay £650,000 toward8 the building of 8 lemple In Kensington, South Alrlca. £200.0(MJ was paid during 2024 towards this commilmenl12023 -£210.000. 2022 - £nil. 2021 - £150,000 and 2020- £33,000}. 23 Contingent assets The charity has been notified of one further legacy whSch does nol meet the criteria for recognillon in the accounts as the amount is not yet measurable. The legacy relates lo investments and the value is around £920,000. Page 34