Lelung Dharma Trust Charity Reglstratlon No. 1079844 Trustees, Annual Report and Unaudited Flnanclal Statements For the Year ended 31 December 2020 Lelun Dharma Trust REFERENCE AND ADMINisfRAMVE DEfAILS Status: Charity registration no.: 1079844 The Charitvs governing document is irs Trust deed and Supplemental Trust Deeds. Reglstered Offlce: Peace House Parkside Way North Harrow Middlesex HA2 6BX Trustees: Lelung Tulku Tessa Heron Constance Dusek Maureen Pugsley Angela Lewis (Honorary) Maureen Elliott (Honarary) Bankers: Natwest Pinner. Middx HA5 IRP Independent Examlner. Shruti Soni FCCA FCIE Shruti Soni Ltd Chartered Certified Accountants 117A St. John's Hlll Sevenoaks TNI 3 3PE Lelun Dharma Tru Trusrees. Report for the year ended 31 December 2020 The Trustees have pleasure In presentlng their Annual Report and Flnanclal Statements for the vear ended 31 Oecember 2020. The flnancial statements have been prepared in accordance wlth the accountlng pollcles set out In note l of the accounrs. They comply wiih the chariry's governing document. the Charitie5 Act 2011, and the Accounting and Reportlng by Charltles.. Statement of Recommended Practlce fsoRV). appllcable to charitles preparing thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland. Objectlves and Actlvltles Objects.. The Trustees shall hold the Trust Fund and Its Income upon trust to apply them for rhe followlng obJects'. l ) The advancement of publlc educatlon In the culture and way of Ilfe of Tlbetsn people and the subject of Tlbetan Buddhlsm. 2) The advancement of the Buddhlst falth through medltatlon and rellglous obseNance and through provlslon of flnanclal support to Buddhlst monks, nuns and other members, In partlcular, but not exclusfvely of the Drepung Monastery In Southern Indla. 3) The rellef of poverty, slckness and dlstress and the advancement of educatlon of people In Tlbet and elsewhere. Area of Beneflt: Tlbet and elsewhere Area of Operatlon: Charlty operates Inslde and outslde England, Wales, and Worldwlde. Reglstratlon Hlstory: Reglstered 15th March 2000 ClassIflc￿1On. What.. EducatlonlTralnlng. MedlcallHealthlSlckness. Rellef of Povery, Overseas AldlFamlne Rellef, Rellglous Activities. Who: Chlldrenlyoung People, Elderly, People of a Partlcular Ethnlc or raclal orlgln, General Publlclmanklnd. Hw. Makes grants to Indlvlduals Ilncludes loans> Makes grant5 to organlsatlons {Inc. schools, charltles etc.) Provldes advocacyladvlcellnformatlon Statement on Publk Benefft In shaplng our objectives for the year and planning our actlvltle5, the trustees CDnflrm that they have referred to the guldance contalned In the Charlty Commlsslon's general guldance on publlc benefit and have complled wlth section 4 of the Charltles Act 2011. Structure, Governance and Management The appolntment. rotatlon and disquallflcatlon of trustees are carrled out accordance wlth the Trust Deed. Approprlate Inductlon and tralnlng pollcles are In place for new trustees. The Lelung Dharma Trusr Is stlll a relatlvely small Charity with slx Trustees, Ilsted on page l. one of whom. Lelung Tulku. is the Spiritual Dlrector and founder of the Trust. Lelun Dharnia Trust Trustees. Report for the year ended 31 December 2020 The Trustees hold regular meetlngs, occaslonalfy online. and decislons regarding the running of the Trust are discussed and agreed at these meetings. These discussions Include Lelung Rlnpoche's travels whlle searching for ancient texts and his plans for future research and the organi5ation of teachings in order to preseNe them for posterity. Future plans and projects are also discussed. as well as the running of the Charity Shop and Centres. These meetings are always minuted. The administration and bookkeeping are done on a voluntary basis. Lelung Tulku received a stipend during the year from the Trust towards Ilvlng expenses totalling £14.400 (2019= £14,400) AcrivmEs OF THE TRLsf DURJNG 2020 Lelung Dharn￿ Centre and Charlty Shop In Plnner The Lelung Dharma Centre is now In Its eleventh year of existence in Eastcote and the Charity shop continues to be well supported and busy with a reliable staff of volunteer5. The lease was renewed In 2019 for another three years Wlth yearly break clauses. The small profit recelved from the Charity Shop is allocated to a number of projects under the care of The Lelung Dharma Trust and these projects are primarity designed to asslst disadvantaged Tibetans living In exlle or within Tibet and the preserrfatlon of the Tibetan culture. Towards the end of 2019. despite the shop havlng been restructured, it was becomlng dlfflcult to pay the rent. bills etc and still make a profit. therefore the Trust considered the posslbllity of gi￿ng up the Centre and shop in Eastcote entlrely. Hi)wever, In the early part of 2020. when Lelung Tulku retumed frorn India, takings began to increase. Unfortunately. it became necessary to close In March. due to the cO￿d restrfctions. and a 9rant was received from the government to help during this time. Business improved a great deal again when the shop reopened in June and the Trust decided to try to buy the shop if ir were posslble to raise the funds. A generous donatlon from a beneflclary made this possible and the Trust Is now In the process of purchasing the premises. Thls purchase will enable the shop to become more profitable wthout the need to pay rent and It may be possible to employ a paid manager in the future. Maureen Elliott and Angela Lews have now officially resigned and only four trustees remain. Maureen Elliott and Angela Le￿S continue to take an interest in the fortunes of the Trust and offer supporr and advice where necessary. Trustees, Report for the year ended 31 December 2020 The Trustees have agreed ro use a new accountant who has more experlence In dealing wlth chariries and more understandlng of the Trust's requlrements. Shrutl Soni Ltd was appolnted In July 2020 to prepare the accounts and provide an Independent Examination. Lelung Rlnpothe Lelung Rlnpoche retumed from Indla in January where he had been receivlng teachlngs. anending meetings and continuing the work of the Trust. Due to travel restrictions, It was not posslble for hlm to travel agaln In 2020. Peace House Through Interfalth dlalogue. contemplatlve practlces and communlry projects. the Trust hopes that this first Shlde Poace Centre. called Peace House. wlll be a beacon of peace for London and elsewhere. The Intentlon Is to host In¢erfalth events once a month and ro Invlie leaders from all rellglons and falth groups to take part, In order to make peace a moro attalnable reallty. Due to Covld the Monday medltatlon meetlngs were held onllne durlng the lockdown5 and these have proved very popular and have many followers from many parts of the v￿r1d. Vthen lockdown was Ilfted. the meetln9s resurned at Peace House. On these occaslons numbers were restrlcted and the hall doors were left open to ensure good ventllatlon. Although activities have been severely curtalled. due to Covld. Peace House. contlnues to be an asset to the communlty In facllltatlng those vA)o are Interested In learnlng more about 8uddhlst phllosophy or simply flndlng straregles to deal wlth Increaslngly stressful lives. The Trust's extenslve Ilbrary Is now sltuated at Peace House. Many people contlnue to request a one-io-one audlence wlth Lelung Tulku. the Splrltual Dlrector of the Trust, to discuss problems and ask for advice or prayers, sometimes for themsefves and sometlmes for loved ones who are sick or who have passed away. Due to restrlctions thls was done onllne. In Januaryi Lelung Tulku conducied prayers for all the crearures and people who suffered durlng the bu5hflres In Australla. In February, the Tibetan New Year was celebrated with prayers, offerings and enrortalnment. There was also a retreat weekend at Peace House in February where Lelung Rlnpoche laughi on the Stages of Medltatlon and Tralnlng the Mlnd. Only one fundralsing day was possible during 2020 which was in early March. It was a Moving Medltatlon and Therapy Day and was very well attended. elun Dharma Tru Trustees, Report for the year ended 31 December 2020 FundralslnglProJects In 2020 the London Marathon was cancelled and became an online event. The Trust's runner, Bat-Erdene Vlctor Nyamdavaa, took part and he also has a place In the 2021 marathon. Suppon of Tlbetan Monks at Drepung Monastery. Indla The sponsorshlp programme for the Lelung monk5 based In Drepung monastery, South Indla contlnues to be well supported. For over 25 years Lelung Rlnpoche has been responslble for a number of monks at Drepung Monastery In Indla and qulte a few of these monks have now attalned thelr Ceshe degrees. whlch Is a remarkable achlevement. One of the monks, Ven. Sonam Tenzin, recelved the hlghest mark In the central Gelugpa Unlverslty examlnatlon for the final Geshe Lharampa. Thls degree Is the equlvalent of a PhD at Oxford or Cambrldge Unlverslty so thls was a great achlevement. The Lelung Llteraturn Pr¢seMilon Centre, Dharamsala, Indla The work of the Lelung Llterature Preservatlon Centre contlnues to be supported by the Lelung Oharma Trust and has become recognlsed as an important centre for the preservatlon of hlstorlcal works, Includlng some of the earllest of 8uddha's teachlngs carved onto wooden blocks. whlch would othetwlse become lost forever. Joanna Lumley Is Patron to the Trust, speclflcally for the translatlon of the 5th Lelung volumes whlch are currently belng prlnted In Tlbetan. The Geden PhKho Bhucho Prnservatlon Centra, based In Dharamsala, Indla The Geden Phacho Bhucho Preservatlon Centre Is also supported by the Lelung Dharma Trust and has become well known as an Important source of Informarlon for Buddhlst teachers ILamas) and practltloners. The G.P.B. PreseNatlon Centre arranges a number of Important oral teachlngs whlch take place In a number of rnaJor monasterles in India. An Integral part of the Buddhlst tradltlon is to pass teachlng5 orally to the monastlc communlry. It Is essentlal for the preservatlon of Tlbetan texts and thelr essence for these teachings to be passed on orally and wlll therefore safeguard the anclent Buddhlst culture for future generatlons. Thls tradltlon of passlng teachlngs down orally Is a protettlve seal, preservlng the teachlngs In thelr orlglnal form In an unbroken Ilneage stretchlng back more than a thousand years. HIS Hollness the Dalal Lama has endorsed the preservation work being undertaken by Lelung Tulku. Trustees. Report for the year ended 31 December 2020 The office in Dharamshala employs three Tibetan scholars. A Talwanese gentleman has kindly sponsored the purchase of some computers at a cost of £1 000 for the Geden Phacho Bhucho office In Dharamshala. Recently Lama Zopa Rinpoche offered, through the FPMT sponsorshlp for the prlntlng of an extremely rare commentary on the Prajnaparamita In 8,000 Verses that Lelung Rlnpoche found and then arranged to be prlnted and distributed In India. Lama Zopa Rinpoche has also commlrted to sponsor the salary of Thvo Geshes for fwo years. The Geshes are undertaking an extremely important task under GP3PC. They are researchlng the Senyigs (List of Hearing Texts) by different masier5 in order to find existing rare empowerments, oral transmissions, personal instrucrions and then to find the Ilvlng masters who hold these lineages. They will also search for the texts if they are not commonly available. If the texts are not in common font IUme>. then they wlll transcrlbe the texts Into the common font Iuchan). Once all thi5 has been completed then the GPBPC office will organize teachings in order to pass on the lineages to the younger generation. Also, if there are very rare texts, they wlll organlze the publishing of these in order to make them more widely avallable. In addition. the Geshes wlll add more Informatlon to the current Index (created by the GPBPC ) which holds information on the texts. authors. oral transmlsslons, personal instructions, who possesses the empowerments. whether those teachlng lineages are stlll allve or extlnct and also a Ilst of the names in the teaching lineage. Plans for the Impact of COMD 19 on the Trusvs Artmtles The Charlty Shop received the government grants during the periods of lockdown whlch were made to all retallers paylng buslness rates who met certain crlterla. Thls helped to cover the ongolng expenses and also provlded a small reserve to cover shortfalls due to the ongoing situation and potential downturn in the economy due to COVID 19. Flnancial Revlew During the year the Trust received income totalling £583.5 55 12019- £996.466) of which £481.972 was restricted (2019.. £93 5,5011. Expenditure totailed £105,782 (2019.. £84,983). The increase in expendlture was due to depreciation being provlded on the purchase of new buildlng during the year. Net income for the year was £477,773 12019- £911,483). Total charity funds at the year end were £1,821.314 (2019-. £1,343,541) of whlch unrestricted funds were £66,299 12019.. £23.306J and restricted funds were £1 .755.015 12019.. £1,320.235). The Trust's acilvlty Is funded mainly by unresrricred Income from donatlons from Indlvlduals. Dharnla Trus Trustees, Report for the year ended 31 December 2020 Resems pollcy The Tru5tee5 have established a policy to maintaln and increase the level of reserves by ensuring they have sufflclent reserves to contrlbute to the day to day running of the charlty for the followlng 12 months which is estimated to be around £60,000. As at 31 December 2020 free reserves Stood at £66.299 (2019.. £23.3061 which is well below the level of rese￿e$ required. The Trustees have Increased efforts to achieve the target level of reserves. Statement of Trustees. Responslbllltles The tru5tee5 are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wlth appllcable law and Unlted Klngdom Accounting Standards Iunlted Kingdom Generally Accepted Accountlng Practice). The law applicable to charitles in England & Wales requlres the trustees to prepare financial statements for each financial year which give a true and falr view of the state of affairs of the charlty and of rhe Incoming re50urces and appllcarion of resources of the charity for that period. In preparing these financial statements, the trustees are required to- al select Suitable accounting policies and apply them consi5tentlv- b) observe the methods and prlnciples In the Charities SORP., c) make judgments and accounting estlmates that are reasonable and prudeni., d) state whether appllcable UK accountlng siandards have been fo51owed. subject to any materlal departures dlsclosed and explained in the financlal statements; e) prepare the finantial statements on the going concem basis unless It Is inappropriate to presume that the Trust will continue In operation. The Trustees are responslble for keeplng proper accounting records that are sufflclent to show and explaln the Trust's transactlons and dlsclose wlth reasonable accuracy at any tlme the financial p051tion of the Trust and enable them to ensure that the financial statements comply with the Charitles Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provlslons of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taklng reasonable steps for the prevention and detection of fraud and other Irregularltles. This report was approved by the Trustees on 29 October 2021 .and signed on thelr behalf bv: Signed Name_ rusteel Independent Examlnerfs Report to the Trustees of Lelung Dharnia Trust I report on the flnancial sratements of the Trust for the year ended 31 December 2020 as set out on Daoes 9 to 19. Responslbllltles and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance wlrh rhe reaulrements of the Charltles Act 2011 I'the Act.). I report in respect of my examlnarlon of the charlty's accounts carrled out under sectlon 145 of Ihe Act and In carrylng out my examinatlon I have followed all the appllcable Directlons glven bv the Charlty Commlssion under sectlon 145(5)(b) of the Act. Independent examlnerfs statement Since the charity's gross Income exceeded £250.000 your examiner must be a member of a body 1Ssted In sectlon 14S of the Act. I confirm that l am quallfled to undertake the examlnatlon because l a member of Associarlon of ChatTered Certifled Accountant, which Is one of the Ilsted dles. I have completed my examination. I confirm that no materlal matters have come to my attentlon In connection wlth the examlnailon givlng me cause to belleve that In any materlal respect: accountlng records were not kept In rtspect of the charlty as required by sectlon 130 of the Act., or the accounts do not accord with those records: or the accounts do not comply vrith the appllcable requlrements concernlng the form and content of accounts ser out In the Charitles (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts glve a 'true and falr vlew, whlch Is not a matter consldered as part of an independent examlnatlon I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understanding of the accounts to be reached. Shrutj Sonl FCCA FCIE Shrutl Soni Ltd • Chartered Certified Accountants 117A St. John's Hill. Sevenoaks TNI 3 3PE Date: 29 October 2021 Lelung Dharma Trust Statement of flnanclal actmtles For the ar ended 31 December 2020 2020 Total Unrestrlcted Restrlcted 2019 Total Unrestrfcted Restrltted Note Income and endowment$ from: Oonation5 and legacies Other tradlng attivities Investments (bank Interest) 96.139 5.438 481.972 578.111 5,438 56,108 4,857 935.000 991,108 4,857 501 501 Total Income 101.583 481.972 583,555 60.965 935.501 996,466 Expendlture on.. Ralslng funds Charltable actlvltles Advancement of Buddhlst Teachlngs 1,439 1.439 4.177 4,177 57.151 47,192 104,343 57,210 23,596 80.806 Total ex￿nd1¢Urn 58.590 47.192 105,782 61,387 23,596 84,983 Net Income l (expendlture) before net galns l Accruals so,000 6,699 1,380 1.380 51.380 8,079 l O Anafysls of net assets betsveen fund5 2020 General unrestriaed Restricted Total fvnds Tangible fixed assets Net current assets 2,362 63,937 1,273.043 481,972 1,275.405 545,909 Net assets at the end of the year 66,299 1.755.015 1.821,314 2019 Tangible fixed assets Net curreni asset5 3.150 1.320.235 20,156 1,323,385 20.156 Net assets at the end of the year 23.306 1,320,235 1.343.541 17 Lelung Dharma Trust Notes to the flnanclal statements Fort ear ended 31 D I l Movements In funds r202 Incoming Outgolng At l January resources & resources & 2020 gains losses At31 December 2020 Transfers Restricted funds: Building - Peace House, Dharma Centre Purchase of shop premlses 1 ,320,235 (47,192) 1,273,043 481,972 481.972 Total restrlcted funds 1 .320.235 481.972 147,192) 1,755,015 Unrestrlcted funds: General funds 23.306 101.583 158,590) 66,299 Total unrestrlcted funds 23,306 101,583 158,590> 66.299 Total funds 1.343.541 583.555 1105,782) 1,821.314 I l Movements In funds Incoming Outgoing At l January resources & resource5 & 2019 gains losses At31 December 2019 Transfers Restrlcted funds: Building Peace House. Dharma Centre 402,657 935,501 123.596) 5,673 1.320.235 Total restrlcted funds 402,657 935.501 123,S96) 5.673 1,320.235 Unrestrlcred funds: General funds 29,401 60.965 161,387) (5.673) 23.306 Total unrestrlcted funds 29.401 60,965 161,3871 (5,673) 23,306 Total funds 432,058 996,466 184,9831 1,343,541 Purposes of restrlcted funds Bulldlng - Peace House fund: Purchase of thls bullding was funded through restrlcted donations recelved for thls purpose In the currenr and previous year. Each year an amount equal to depreciation is wrltten off from thls fund to revenue. As a result, the Fund wlll be fully written off over the estimated useful Ilfe of the bulldlng whlch Is 20 years. The balance of the fund at year end represents an amount equal to the net book value of thls freehold property owned by the Trust which Ss used as Dharma Centre. Purchase of shop premlses - donatlons were recelved during the year toward cost of purchase of shop whlch is likely to be completed in 2021 18 Lelun9 Dharma Trust Notes to the flnanclal statements For the ended 31 December 2020 12 Reconclllatlon of net Income l (expendlture) to net cash flow from operatlng acrmtles 2020 2019 Net Income l (expendlture) for the reportlng perlod (as per the statement of flnanclal actmtles) Depreciation charges Dividends, interest and rent from investments (Increase)Idecrease in stocks Increasel(decrease) In credltors 477.773 911.483 47,980 (6) (2,237) 43.301 24.046 (5011 (300) 6,879 Net ush provlded by l (used In) operatlng actMtI¢s 566,811 941,607 13 Anatysls of cash and cash equlvalents At l January 2020 At31 December 2020 Other changes Cash flow5 Cash In hand 27.935 566,817 594.752 Total cash and cash equlvalents 27,935 566,817 594,752 14 Funds held as custodlan During the year charlty has received £nil12019=£25,248) and paid £6.69912019.' £18,549) as agents on behalf of the Kongpo Khangtsen monk5 based In Drepung mona5tery* South India. Amount held on their behalf a5 at the end of the year Is £NII12019.' £6.6991.