REGISTERED CHARITY NUMBER: 1078783
THE SHRIMALA TRUST
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Haines Watts
Chartered Accountants
Old Station House
sktion Approach
Swindon
Wiltshire
SN13DU

THE SHRIMALA TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Page
Report of the Trustees
Independent Examinerfs Report
Statement of Financial Activities
Statement of Financial Position
Notes to the Financial Statements
8 to 15

THE SHRIMALA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024
The Irustees present their report with the financial statements of the charity for the year ended 30 April 2024.
The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of
Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive 1 January 2019).
The legal name of the charity is:. THE SHRIMALA TRUST
The charity is also known by the name of the spiritual community it supports. the Awakened Heart Sangha.
OBJECTIVES AND ACTIVITIES
The charity's objectives are to advance religious education in accordance with the doclrines and principles of
the Buddhist Philosophy and in particular the Kagyu-Nyingma tradition of Tibetan Buddhism.
These objectives are furthered through the activities of the Awakened Heart Sangha, a spiritual community in
the Kagyu and Nyingma traditions of Tibetan Buddhism. formed by students of Lama Shenpen Hookham.
The main activities undertaken in relalion to those purposes during the year.
Running Distance Learning and Online Courses
Operating the Hermitage Retreat Centre
Publishing Buddhist Teaching Materials, and
Supporting Membership (Sangha) Activities
Public Benefit
The Shrimala Trust's work benefits a wide range of individuals across the United Kingdom and the rest of the
world.
The Directors have had regard to the Charity Commission's guidance on public benefit in managing the
activities of the charity on this matter and concluded thal=
The aims of the organisation continue to be charitable.,
The aims and the work done give identifiable benefits to the charitable sector and both indireclly and
directly to individuals in need-,
The benefits are for the public. are not unreasonably restricted in any way and certainly not by ability
to pay. and
There is no detriment or harm arising from the airns or activities.
Page 1

THE SHRIMALA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024
ACHIEVEMENT AND PERFORMANCE
Distance learning courses
71 people enrolled in our main training, Living the Awakened Heart. 84 people cancelled. resulting in a nel
decrease of 13 participants.
Our initiative of directing students to working in online study groups has moved forward, with 34 online study
groups throughout the year. Studenls were also able to participate online in most of the Hermitage events.
Hermitage events
We held a full programme of 8 residential retreats and 26 teaching events.
Regional events
No in-person events took place during the year.
Teaching materials
We sent out weekly editions of email teachings by Lama Shenpen to an average of 4,500 subscribers and to
around 8,650 on Facebook. Recordings of leachings by Lama Shenpen have been made available as
downloadable files, videoed and published on YouTube for the general public. as well as transcribed and made
available in written form.
We have continued to make live teachings widely available=
Streaming public talks each month online by Zoom and YouTube.
Streaming Hermitage meditation sessions every day.
Making recordings available after each teaching. so that those who are unable to join at the time can
take part.
Some of the teachings are also made available as transcripts, which are prepared by volunteers.
Facilitating remote participation in retreats, including the meditation sessions, teachings and
discussions
The difference the charity's perforniance during the year has made to the beneficiaries of the charity.
For students engaged in our spiritual community, it is typically a major part of their lives and the mainstay of
their pursuit of wellbeing for themselves and those around them. Our primary stralegy at this time is to invest
in supporting staff financially to create more teaching packages, so that students are better provided for in a
wider variety of methods that suit their needs. We employed someone to manage our students and mentors
to provide better care for our students and members spiritual development. Even though spiritual activities are
led by volunteer mentors. it is helpful for us to have employees to support them in delivering more powerful
activities for more people.
We continue to seek to connect with beneficiaries through every channel available to us, with both local groups
and online opportunities as major areas of priority for us.
The degree to which the achievements and performance during the year have benefited wider society.
The charity continues to encourage the development of forms of Buddhist practice suited lo this time and place.
In this way it is an active part in the wider debate in how to build a stable society oriented towards the pursuit
of a meaningful life, a question that becomes ever more obvious as overt material needs are satisfied.
As Mahayana Buddhists we judge the effectiveness of our individual and collective spiritual activities by the
benefit they bring to all people. This includes both our individual attempts to nourish those who come into
contact with us in our daily lives, and our collective effort as a community lo establish the presence in the world
of a genuine connection with Awakening for all those who wish it.
FINANCIAL REVIEW
The financial position of the charity at the year-end is set out on page 7.
The Trust made a small loss on general aclivity. substantially less than a projected large deficit.
Event donations were more thari expected. and Herrnilage costs were lower. However staff costs were
somewhat higher.
Page 2

THE SHRIMALA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution. and constitutes a Charitable Incorporated
Organisation.
The governing document of the charity is the Constitution establishing it under The Charities Act 2011.
The Governing Document is dated 1 November 2023.
Recruitment and appointment of new trustees
As a spiritual charity, it is of utmost importance that trustees are recruited from those who have an
understanding of both the charity commission guidelines for being a trustee and the vision, values and ethos
of the spiritual community il represents.
Therefore, the trustees are recruited from within the Membership and are preferably students who have spent
some time working and learning in as many areas of the cornmunity as possible to ensure a diverse
understanding of the needs of the Members.
We are currently working on a long-term projectto develop training in vision, values and ethos, which is already
bearing fruit.
Organisational structure
The Shrimala Trust is a Charitable Incorporated Organisation and a registered charity governed by its
Constitution. Trustees are typically appointed by the trustees, but subject to election by Members al the next
general meeting. The Board hold a trustee meeting at least quarterly.
The trustees and spiritual leadership are strongly engaged in a process of refining our thinking about how to
develop our vision, guide our activities in accordance with our vision, and integrate spiritual and organisational
leadership.
The Trust continues to support Lama Shenpen Hookham, its founding lama, with a stipend, accommodation
and living expenses. Lama Shenpen devotes her lrfe to working for the Trust and is a source of spiritual
guidance, blessing and connection. The Trustees consider that this is a reasonable level of support, and
provides il in gratitude for the Dharma DireGtor's contribution and in recognition of her material needs.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1078783
Page 3

THE SHRIMALA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered office
Ynys Graianog
Ynys Criccieth
Gwynedd
LL25 ONT
Trustees
MsADew
MsSPHair
MrJJFShaw
Independent Exarniner
Haines Watts
Chartered Accountants
Old Station House
Stslion Approach
Swindon
Wiltshire
SN13DU
Approv8d by order of the board of trustees on
15 ocl L L.Ltr........
arKI signed on its beha￿ by".
MrJJFSh
ste8
Pag8 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE SHRIMALA TRUST
Independent examiner's report to the trustees of The Shrimala Trust {The Trust)
I report to the charity trustees on my examination of the accounts of The Shrimala Trust (Ihe Trust) for the year
ended 30 April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 {'the Act,).
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in
carrying out my examination I have followed all applicable Directions given by the Charity Commission under
Section 145(5)Ib) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a true and fair view which is not a matter considered as part of an independent
examination.
I have no concerns and have corne across no other malters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Susan Plumb ACA
Haines Watts
Chartered Accountants
Old Station House
Station Approach
Swindon
Wiltshire
SN1 3DU
Date:
Page 5

THE SHRIMALA TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024
2024
Total
funds
2023
Total
fijnds
Unrestricted Restricted
funds
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
190,479
31.712
222.191
158,651
Charitable activities
Awakened Heart Sangha
6,361
6.361
4,545
Investment income
Other income
1,798
14,407
1.798
14,407
667
19,074
Total
213,045
31,712
244,757
182,937
EXPENDITURE ON
Charitable activities
Awakened Heart Sangha
221,309
21,544
242,853
217.539
NET INCOMEI(EXPENDITURE)
(8,264)
10,168
1,904
(34,602)
RECONCILIATION OF FUNDS
Total funds brought forward
416,570
24,346
440,916
475,518
TOTAL FUNDS CARRIED FORWARD
408.306
34.514
442,820
440,916
The notes form part of these financial statements
Page 6

THE SHRIMALA TRUST
STATEMENT OF FINANCIAL POSITION
30 APRIL 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
funds
fund
Notes
FIXED ASSETS
Tangible assets
260.171
260.171
269,447
CURRENT ASSETS
Debtors
Cash at bank
12
48.996
127,314
48,996
161,828
22,638
159,992
34,514
176,310
34,514
210,824
182,630
CREDITORS
Amounts falling due within one year
(28,175)
(28,175)
(11,161)
NET CURRENT ASSETS
148.135
34,514
182,649
171,469
TOTAL ASSETS LESS CURRENT
LIABILITIES
408,306
34,514
442.820
440,916
NET ASSETS
408,306
34,514
442,820
440,916
FUNDS
Unrestricted funds
Restricted funds
15
408,306
34,514
416,570
24,346
TOTAL FUNDS
442,820
440,916
TheJnancial Statements were approved by the Board of Trustees and authorised for issue on
..kA. O.Qt...l*..4-.......... and were signed on behatf by:
Mr J J F Shaw- Trustee
The notes form part of these financial statements
Page 7

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective
1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in
the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been
prepared under the historical cost convenlion
The financial statements are prepared in sterling. which is the functional currency of the entity and is
rounded to the nearest £.
Going concem
There are no material uncertainties about Ihe charity's ability to continue.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation committing
the charity to that expenditure, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expendilure is accounted for on
an accruals basis and has been classtfied under headings Ihat aggregate all cost related to the category.
Where costs cannot be directly attributed to particular headings they have been allocated to activities
on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Land and buildings
Fixtures and fittings
Office equipment
20/0 on cost
10010 on cost
33 % on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the
charitable company's pension scheme are charged to the Statement of Financial Activities in the period
to which they relate.
Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the
amount prepaid.
Page 8
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024
ACCOUNTING POLICIES - continued
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due to settle the obligation can
be measured or estimated reliably. Creditors are recognised at their settlement amount.
DONATIONS AND LEGACIES
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
funds
General donations
Membership subscriptions
100.097
90,382
31,712
131,809
90,382
70,608
88,043
190,479
31,712
222,191
158,651
INVESTMENT INCOME
2024
Tolal
funds
2023
Total
funds
Unrestricted Restricted
funds
funds
Deposit account interest
1.798
1,798
667
INCOME FROM CHARITABLE ACTIVITIES
2024
Awakened
Heart
Sangha
2023
Total
activilies
Book sale
6,361
4,545
CHARITABLE ACTIVITIES COSTS
Direct
Costs {see
note 6)
Support
costs (see
note 7)
Totals
Awakened Heart Sangha
129,616
113,237
242,853
Page 9
continued..

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 30 APRIL 2024
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
2023
Staff costs
Event expenses
Teachers stipend
Web-site costs
86,638
1,923
12,000
29,055
77,789
4,832
12,000
21,533
129,616
116,154
SUPPORT COSTS
Premises
expenses
Administrative Governance
overheads
costs
Finance
Totals
Awakened Heart Sangha
61,264
14,200
35.593
2,180
113,237
Support costs, included in the above. are as follows..
Premises expenses
2024
Awakened
Heart
Sangha
2023
Total
activities
Rates and water
Insurance
Light and heat
Housekeeping
Premises repairs and renewals
12,378
2,155
7,750
22,157
16,824
10,922
1,928
12.519
23,318
18,182
61,264
66,869
Finance
2024
Awakened
Heart
Sangha
2023
Total
activities
Bank charges
Depreciation of tangible fixed assets
2,846
11,354
2.104
11,324
14.200
13,428
Administrative overheads
2024
Awakened
Heart
Sangha
2023
Total
activities
Telephone
Postage and stationery
Equipment costs
Sundries
Travel
1,331
1,024
962
29,465
1,422
1,128
1,679
2,566
11.321
735
Carried forward
34,204
17,429
Page 10
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024
SUPPORT COSTS - continued
Administrative overheads - continued
2024
Awakened
Heart
Sangha
2023
Total
activities
Brought forward
Accounting service
34,204
1.389
17,429
1,246
35.593
18,675
Governance costs
2024
Awakened
Heart
Sangha
2023
Total
activities
Independent Examiner's fees
2,180
2,413
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after charginty(crediting)'.
2024
2023
Independent Examiner's fees
Depreciation - owned assets
2,180
11,354
2,413
11,324
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees. remuneration or other benefits for the year ended 30 April 2024 nor for the year
ended 30 April 2023 except as disclosed in note 15.
Trustees. expenses
There were no trustees. expenses paid for the year ended 30 April 2024 nor for the year ended
30 April 2023.
10. STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
85,539
1,099
76,984
805
86,638
77,789
The average monthly number of employees during the year was as follows:
Full time or full-time equivalents
2024
2023
No employees received emoluments in excess of £60.000.
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning,
directing and controlling the activities of the charity. The total compensation paid to key management
personnel for services provided to the charity was £22,848 {2023.' £22,680).
Page11
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 30 APRIL 2024
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Land and
buildings
Office
equipment
Totals
COST
At 1 May 2023
Additions
411,567
1,378
29,367
11.003
700
451,937
2,078
At 30 April 2024
412,945
29,367
11,703
454,015
DEPRECIATION
Al 1 May 2023
Charge for year
142.928
11,036
29,367
10,195
318
182,490
11.354
AI 30 April 2024
153,964
29,367
10,513
193,844
NET BOOK VALUE
At 30 April 2024
258,981
1.190
260,171
AI 30 April 2023
268,639
808
269,447
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Prepayments and accrued income
20,723
28.273
17,567
5,071
48,996
22.638
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
10,411
578
351
16,835
6.081
258
171
4,651
28,175
11,161
Page 12
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024
14. MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
belween
funds
At
3014124
At 115123
Unrestricted funds
Unrestricted revenue funds
Designated reserve fund
Designated fixed asset fund
(3,070)
5,403
10.597)
3,070
{3,070)
150,563
266,007
152,896
255,410
416,570
{8,264)
408,306
Restricted funds
Misc restricted fund
24.346
10,168
34,514
TOTAL FUNDS
440,916
1,904
442,820
Net movement in funds, included in the above are as follows=
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Unrestricted revenue funds
Designated reserve fund
Designated fixed asset fund
203,045
10,000
1206,115)
(4,597)
10.597)
(3,070}
5,403
10.5971
213,045
(221.309)
Restricted funds
Misc restricted fund
(8,264)
31,712
(21,544)
10,168
TOTAL FUNDS
244,757
242,853)
1,904
Compaiatives for movement in funds
Net
movement
in funds
Transfers
between
funds
At
3014123
At 115122
UnrestTlCted funds
Unrestricted revenue funds
Designated reserve fund
Designated fixed asset fund
(19,608)
(5,000)
10,597)
19,608
(19,608)
175,171
276,604
150,563
266,007
451.775
(35.205)
416,570
Restricted funds
Misc restricted fund
23,743
603
24,346
TOTAL FUNDS
475.518
34,602)
440,916
Page13
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024
14.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds. included in the above are as follows-.
Incoming
resources
Resources
expended
Movement
in funds
Unrestrtcted funds
Unrestricted revenue funds
Designated reserve fund
Designated fixed asset fund
174,073
(193,681)
{5,000>
10,597)
{19,608)
(5,000)
10,597)
174,073
{209.278)
(35,205)
Restricted funds
Misc restricled fund
8,864
(8,261)
603
TOTAL FUNDS
182,937
217,539)
34,602)
Unrestrided and designated funds
Unrestricted Funds - these fund are held for meeting the objectives of the charity, and to provide
reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use.
Designated Reserve Fund unrestricted donations and legacies exceeding £5000 are placed in this
fund, which is used as the Trust's strategic reserve to fund major initialives not routine expenditure.
Designated Fixed Asset Fund- fixed assets which have spiritual and book value but which are not
directly tied to income generation are placed in this fund. to facilitate scrutiny of the Trusl's operating
profit & loss excluding their depreciation.
Restricted funds
Misc. Restricted fund comprise the following="
Hermitage developmentlstupa fund
For developing the stupa, its surrounding area. and other aspects of the Hermitage.
Hermitage expansion 2020
To fund exploration of developments at the Hermitage in the next few years, including a Dharma Hall
and retreat huts.
Lama's 2017 initiative
Lama Shenpen expressed a wish to make donations to spur areas of Sangha growth. such as the
website and shrine room audio equipment, beyond what the Trust could afford from its own reserves.
Offerings
This fund holds offerings made to the shrine or stupa. for example when people take vows at the Annual
Sangha Celebration. It's used to pay for candles, lights, incense and flowers at the Hermitage.
Teacher development
To support the development of teachefs in the Sangha.
Retreat cabins gift
A donor made a substantial donation in 2015 to fund retreat cabins.
Page 14
continued...

THE SHRIMALA TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 30 APRIL 2024
15. RELATED PARTY DISCLOSURES
During the year ending 30 April 2024 Anne Dew lived as volunteer and part of the spiritual community
al the Trust's meditation centre, the Hermitage of the Awakened Heart.
Donations totalling £8,765 (2023 £9.497) were received from trustees who served during the year.
Page 15