CHARITY REGISTRATION NUMBER: 1079844 Lelung Dharma Trust Trustees Report and ljnaudited Financial Statements 31 December 2024
Lelung Dharma Trust Trustees Report and Unaudited Financial Statsments Year Ended 31 December 2024 Pages Trustees, annual report 1to7 Independent examiner's report Statement of financial activities Balance sheet 10 Cash flow 11 Notes to the financial statements 12to19
Lelung Dharma Trust Trustees, Annual Report Year Endod 31 December 2024 The Trustees have pleasure in presenting their Annual Report and Unaudited Financial Slatements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the accounts. They comply with the Trust's governing document, the Charities Act 2011, and the Accounting and Reporting by Charities.. Statèment of Recommended ('SORP'), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Raf•r•nc• and admln18tratlve detalls Charlty reglstratlon numbor 1079844 Governlng document Trust Deed and Supplementsl Trust Dee Prlnclpal addr088 and reglstsred offlce Peace House Parkside Way North Harrow Middlesex HA2 68X Tru8tee8 Lelung Tulku Tessa Heron Constance Ousek Maureen Pugsley Honorary Advl80rn Angela Lewis Maureen Elliott Ind•pendont Examlner Trevor James FCA DChA FCIE Donner Cottage West Broyle Chichester West Sussex P019 3PR Bankern Natwest Bank 118 Field End Road East¢ote Pinner Middlesex HA5 1RP HSBC Bank 177 Field End Road Eastcote Middlesex HA5 1QS Barclays Bank Leicester LeIStehlre LE87 2BB Emall address lelungdt@gmail.com Webslte vw.lelung.org
Lelung Dhanna Trust Trustees, Annual Report Year Ended 31 December 2024 Structure, Governance and Management Charity Status Lelung Dharma Trust ("The Trusf) is governed by a Trust Deed sealed on 6th January 2000 and a Supplemental Trust Deed dated 24th February 2000 and 30th July 2002. The Trust was registered with the Charity Commission for England and Wales on 15th March 2000. The Trustees conf rm that the Financial Statements comply with current statutory requirements and the Trust's goveming document. Recruitment, Appointment 8nd Trnining of Trustees Trustees are recruited in accordance with the Trust Deed from known supporters of the Trust who share its aims and aspirations and who are believed to be able to bring a breadth and depth of experienc and skills to the trustee body. On appointment Trustees are provided with full information concerning the Trust and are directed to appropriate Charity Commission publications and to the Charity Governance Code. All Trustees take seriously their obligations to maintain their knowledge. The rotation ol trustees and, if necessary, disqualification are carried out in accordance with the Trust Deed. M8n8gement As a small charity the Trustees of The Lelung Dhamia Trust are directly involved with its day to day management and activities. Lelung Tulku, a Trustee, is the Spiritual Director and founder of the Charity. The Trustees hold regular meetings, most of which are online, and decisions regarding the running of the Trust are discussed 8nd agreed at these meetings. These discussions include Lelung Rinpcohe's travels while searching for ancient texts and his plans for future research and the organisation of teachings in order to preserve them for posterity. Future plans and projects are discussed, as well as the runnlng of the Twst's shop and Centres. The administration and bookkeeping ar8 done on a voluntary basis. Lelung Tulku received £23,400 (2023 £14,400) from the Trust during the year towards hls Ilvlng expen8es. Apart from this no Trustee received any payments or benefits for their work for the Trust. Risk Management The Trustees have identified the major risks to which they believe the Trust Is exposed. INhere appropriate, systems have been established to minimise those risks. Procedures are in place to ensure compliance with health and safety requlrements. Govemance In line with the teachings of Tibetan Buddhism the Trustees believe that corruption, bribery and unfair actions hamper development and impede progress and insist on integrity in all aspects of the Trust's activities and they endeavour at all times to apply the Charity Governance Code and the Nolan principles (selflessness, integrity, objectivity, accountability, openness, honesty and leadership). Objectlves and a¢tlvltle8 The Trustees shall hold the Trust Fund and its income upon trust to apply them for the following objects: The advancement of public education in the culre and way of life of Tibetan people and the subj'ect of Tibetan Buddhism.
Lelung Dharma Trust Trustees, Annual Report Year Ended 31 Decèmber 2024 The advancement of the Buddhist faith through meditstion and religious obsetvance and through provision of financial support to Buddhist monks, nuns and other members, in particular, but not exclusively of the Drepung Monastery in Southem India. The relief of povety, sickness, and distress and the advancement of education of people in Tibet and elsewhere. Area of benefft: Tibet and elsewhere. Area of Operatlon: Charity operates inside England, Wales and Worldwide. Cla6slllcatlon: What: EducatiOnrainIng, MedicaVHealthlSickness, Relief of Povety, Overseas AidlFamine Relief, Religious Activities. Who: Childrentyoung People, Elderly, People of a Particular Ethnic or racial origin, General Publiclmankind. How: Makes grants to indlviduals (including loans). Makes grants to organisations (including schools, charities etc). Provides advocacyladvicelinformation, Publlc bonoflt In shaping the Trust's objectives and planning its 8Ctivities the Trustees have paid due regard to the Charity Commission's guidance on public benefit and have complied with section 4 of the Charities Act 2011. Actlvltles ol tho Trust durlng 2024 L•lung Dharnia Centr• and Charlty Shop In Plnner The Lelung Dharma Centre is now in its fifteenth year of existence in Eastcote and the Charity shop continues to be well supported and busy with a reliable staff of volunteers and the local community continue to donate clothes, bric-a-brac etc regulady. In addition, the shop sells a small amount of new goods. The profits from the sale of the donated items, donations and direct debits from students continues to increase steadily, The surplus profit from the Charity Shop is allocated to a number of projects under the care of the Lelung Dharma TNst and these projects are primarily designed to assist disadvantaged Tibetans living in exile or within Tibet and the preservation of the Tibetan culture. The Trust has continued to collect and send good clothing from the charity shop to India for needy people and this is clearly very useful and well received. The Trust often CeiVeS video footage of the clothes and shoes being distributed to those in need, often in rural villages. Throughout the year clothes have been sent across India regularly and, judging by the videos, there is a great deal of excitement when they are received. H.E. L•lung Rlnpoche Many people continue to request a one to one audience with Lelung Tulku, the Spiritual Director of the Trust, to discuss problems and ask for advice or prayers, sometimes for themselves and sometimes for loved ones who are sick or who have passed away. The beginning of 2024 found Lelung Rinpoche in Bodhgaya where he had been attending the teachings of His Holiness the Dalai Lama and, while he was there, he was able to visit each class in a school of 720 students, He shared positive ideas about world peace with them and distributed small gifts.
Lelung Dhanna Trust Trustees, Annual Report Year Ended 31 December 2024 Lelung Rinpoctte also had the opportunity to meet and talk with Venerable Samdhong Rinpoche, the ex- Prime Minister of the Tibetan Government in Exile who is a great supporter of the work of the Lelung Dharma Trust. Lelung Rinpoche then spent tsvo and a half days in Kathmandu visiting some holy sites and offering prayers for the happiness of sentient beings. He returned to London on 25° January. In March, Lelung Rinpoche took part in a discussion which was called Bridging Science, Philosophy and Religion with Professor Bernard Carr and Dr Bernardo Kastrup, covering Cosmology and Consciousness and much more, offering his insights from a Buddhist viewpoint. The whole discussion was posted on YouTube under the heading 'What 15 Inner ScienGe?' and was very interesting. On the 4" April, Lelung Rinpoche arrived in Mongolia to participate in the oral transmission of the Kangyur, the sacred teachings of the Buddha, conducted by His Eminence Kyabje Togden Rinpoche. The teachings take place in the Gandantegchinlen Monastery of Mongolia. This marks the third year of the transmission, process which will span four years with sessions lasting about two months each year. This is also an opportunity to do research and discover rare texts. Lelung Rinpoche arrived back in London on 23° June. In October, Lelung Rinpoche was interviewed by Pearl Lam who is a leading authority on Asian contemporary art and design. He spoke about his life and his work and his plans for the future. Peace House The Centre in Harrow, Peace House, continues to be an asset to the community in t8cilitating those who are interested in learning more about Buddhist philosophy or simply finding strategies to deal with increasingly stressful lives. Through interfaith dialogue, contemplative practices and community projects, the Trust hopes that this first Shide Peace Centre, called Peace House, will be a beacon of pea for London and elsewhere. The intention is to host interfaith events once a month and to invite leaders from all religions and faith group5 to take part, in order to make peace a more attainable reality. Peace House conts'nues to be open for Monday evening talks and meditstion. On the 10° February, the Tibetan New Year, the year of the Wood Dragon was celebrated at Peace House. There were prayers and Torma offerings to Palden Lhamo as usual with a traditional Losar breakfast. This event was open to all. In July there was a celebration at Peace House to celebrate the occasion of His Holiness the Dalai Lama's 89° birthday where prayers were offered for His lor)g life. School visits to Peace House have continued throughout 2024. At these visits Lelung Rinpoche talks to the children about Buddhism, ethics, how to lead a happy life and then leads a short meditation. The children are able to see the artefacts which are on display at Peace House. The plans for the extension of Peace House have been approved and building will commence in 2025. Tlbetan Peace Gard8n On 10° ernber, the Lelung Dharma Trust organised a special celebration marking the 25 anniversary of the Tibetan Peace Garden which coincided with Human Rights day. This event was open to all and took place in the heart of the garden with the intention of reflecting on the enduring values of peace, compassion and non-violence.
Lelung Dharma Trust Trustees. Annual Report Year Ended 31 December 2024 Many faith leaders attended the event, offering prayers and words of inspiration. The Mayor of Southwark was also present and delivered a wonderful speech. At the invitation of the Lelung Dharma Trust, Geshe Llundhup and Geshe Thubten joined us from India. During their stay in the UK, both Geshelas will be supporting H.E. Lelung Rinpoche in his various projects. SHIDE Lelung Rinpoche has continued to gamer support for his Shide project. The plan is to build a Worfd Peace Centre which would incorporate a Buddhist SdY centre, monastery, domitories for retreats etc. and also Stupa. This space will be available for all faiths and denominations to use for meetings, prayer, conferences and functions and also, for discussions on global peace. It will be an interfaith space which is available to everyone where there can be interfaith conferences on how to achieve world peace and also peace in our communities. This project has the approval of His Holiness the Dalai Lama. Tho Lelung Literature Preservatlon Centre. Dharam8hala, Indla This work of the Lelung Literature Preservation Centre Conlinues to be supported by the Lelung Dharma Trust and has become recognised as an important centre for the preservation of historical works, including some of the eadiest of Buddha's teachings carved onto wooden blocks, which would otherwise become lost forever. Joanna Lumley is Patron to the Trust, specifically for the translation of the 5th Lelung volumes which are currently being printed in Tibetan. Support of Tlbotsn Monks at Drepung Monastery, Indla The sponsorship programme for the Lelung monks based in Drepung monastery, South India continues to be well supported. The house at the monastery in Drepung, which was given to Lelung Rinpoche as a young monk by His Holiness the Dalai Lama, is now occupied by Lelung monks. The house was in severe need of renovation as it was stsrting to collapse and had become dangerous. The Trustees agreed to send £20,000 to India to help rebuild these monk quarters so that the monks can conts'nue to use them and this work has now been completed. The Lelung monks can now cnntinue their work and studies in more secure surroundings. The Lelung monks receive £1,200 annual sponsorship and the seven monks who were attending the HHDL teachings in Bodhgaya were given an extra £800 to help with their accommodab'on there. The G. P. B. Preservatlon Centre, based In Dharnmsala, Indla The Geden Phacho Bhucho PreseNation Centre is also supported by the Lelung Dharma Trust and has become well known as an important source of information for Buddhist teachers {Lamas) and practitioners. The G.P.B. Preservation Centre arranges a number of important oral teachings which take place in a number of major monasteries in India. An integral part of the Buddhist tradition is to pass teachings orally to the monastic community. It is esséntial for the preservation of Tibetsn texts and their essence for these teachings to be passed on orally and will therefore safeguard the ancient Tibetan Cultu for future generations. This tradition of passing teachings down orally is a protective seal, preserving the teachings in their original form in an unbroken lineage stretching back more than a thousand years. His Holiness the Dalai Lama has endorsed the preser4ation work being undertaken by H E Lelung Tulku. Currently, the office in Dharamsala employs two Tibetan scholars who once worked for The Library of Tibetan Works and Archives in Dharamsala, an invaluable resouro founded by the Dalai Lama in 1971.
Lelung Dharma Trust Trustees, Annual Report Year Ended 31 December 2024 H. E. Lelung Rinpoche and the Geshes are undertaking an eXtmelY important task under GPBPC. They are researching the Senyigs (List of Hearing Texts) by different masters in order to find existing ra empowerments, or81 transmissions, personal instructions and then to find the Ilving 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 (Ume), then they will transcribe the texts into the common font {Uchan). Once all this has bean completed then the GPBPC office will organise teachings in order to pass on the lineages to the younger generation. Also, if there are very rare texts, they will organise the publishing of those in order to make them more widely available. In addition, the Geshes will add more information to the current index {cre8ted by GPBPC) which holds infonnation on the texts, authors, oral transmissions, personal instructs"ons, who possesses the empowennents, whether those teachings lineages are still alive or extinct and al80 a list of the names in the teaching lineage. Fundra181nglProJact8 In November, the Trust sponsored some exercise equlpment for an outside gym for the teachers and students of the Ogyen Mindrolling Monastery in India, one of the main br8nches of the Nyingma school. This will help to maintain their health and mobility as they often spend long hours sitting in prayer and meditation. The Lelung Dharma Trust receives unrestricted, designated and restricted gifts and donations from supporters. It does not use fundraisers. Flnanclal RovI•w During the year the Trust received income totalling £102,379 (2023'.£178,943> of which £8,465 12023.. £66,994) was restricted. Expenditure totalled £215,344 (2023.'£180,957). The net income deficit for the year was £112,965 (2023'.£2,014). Total funds at the year end were £1,654,110 (2023.'£1,767,075) of which unrestricted funds were £1,588,649 {2023.'£1,678,523> and rastricted funds were £85,461 (2023:£88,552). The Lelung Dhamia Trust's activities are funded mainly by unrestricted donations from individuals. Investment pollcy Funds not required for current needs may be invested in investments of any kind at the absolute discretion of the Trustees. Volunteern The Trust benefits greatly from the work of more than 30 volunteers. The Trustees are truly grateful for all they do. Reportlng 8erlous Incldent8 In line with the Charity Commission's guidance on reporting serious incidents, the Trustees decla that during the year there were no serious incidents that they have failed to bring to the Commission's attention. Safeguardlng The Trust realising the importance of safeguarding will be developing its safeguarding policy. Reserves Pollcy The Trustees, reserves policy is to ensure they hold sufficient free reserves to meet the Trust's day to day running costs for the following 12 months, which are estimated to be £100,000 (2023'.£80,00). At 31 December 2024 free reserves stood at £147,397 (2023.. £194,020).
Lelung Dharma Trust Trustees, Aiinual Roport Year Ended 31 December 2024 Plans for future periods The Trust intends to Continue its lull a¢tivilies withoiit change and to en17anrR these by extending Peace House. Statement ol Trustees. Respon8lbllltles The Trustees are responsible for preparing the Trugiees. Annual Report and the Financial Slaieinents In cordance wiin applicable Law 8ncl Unrted Kingdom Accounting bian¢ards Iuniiea i(Ingaom tsenerally Accopted Accounting Practice). The law applicable lo tharilies In England and Wales requir@s the Truslees lo prepare financial sialemenls for each financial year which gN8 a true and lair view of the state ol affairs ol the Trust and of th8 incoming resoUe5 and application of fe50urces ol the Tfusl lor that period. In preparing these finanaal stalements, Ihe Tnjslees are required lo. select suitable accounling policies and then apply them Mnsistenlly., obgèrve the melhods and Pfinciplas In the applicable Charilies SOPR., rnake iudgernonts and accounting estimoic4 . state whether app15eable UK Accounung Standar(Js have been lollowed, subject lo any material departufes disdosed and explalned ID the lin¢incial stalemeftis, prepare the finanrjal statement8 on Ihe goin9 Concern basis unless It 1$ 11)apprgpriale to Pfesume thal thè TIu51 will cofttinue In Operation hal a.. e rr$3sonsble ap.o prudent, The Twslees are retsponsible for keeplng proppr 8ccounling records Ihai are sufficieni lo 8how and axplain the frusl's Iraniiaclions and disclose with reasoiiable accuracy at aiiy lime Ilia Iinancial position of the Trusi and enable them to ensure that the Financial Statements comply with Ilie Charities Act 2011, the Chanty IAttount8 and Reports) Regulatlons 2008 and th& provisions ol the Trust Deed They are Hlso responsible for safeguarding the assets of the Tru51 and hence for taking ieasonable steps for the prevention and deioclion of fraud and other irregularities The Trustèes are al$0 responsible for the maln18nance and Inlagnty ol any financial Infornialion Included iii the Trust's website Indop¢ndont examlner Trevor James FCA DChA FCIE is willing lo continue in olfice as Ilie Trust'5 Independenl Examiiier The Trustees, Annual Report was approved by the Trustees an 2026 and signed on their behalf Dy M A Pugsley Trustee
Lelung Dharma Trust Independent Examiner's Report Year Ended 31 December 2024 I report to the Charity's Trustees on my examinats'on of the accounts of Lelung Dharma Trust for the year ended 31 December 2024. This report is made solely to the Trustees of Lelung Dharma Trust, as a body, in accordance with the Charities Act 2011 {"the Acr). Responslbilitles and basi5 of report As the charity trustees of Lelung Dhama Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Act. You constder that the audit requirements of the Act do not apply and that an independent examinatr'on is needed. It is my responsibility to: examine the accounts under section 145 of the Act. follow the procedures laid down in the general directions given by the Charity Commission under section 144 (2) of the Act; and to state whether particular matters have come to my attention. Ba818 of the Indep•ndent examlner's report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees conceming any such matters. The procedures undertaken clo not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent •xamlner's ststement I have completed my examination. I confirm that, subject the qualifications below, no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. 1. the accounting records were not kept in accordance with section 130 of the Act", or 2. the accounts do not accord wrth the accounting records., or 3. the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Report) Regulations 2008 other than any requirement that the accounts give a 'true 8nd fair view, which is not a matter considered as part of an independent examination. This report is made solely to the Charity's Trustees, as a body, in accordan with part 4 of the Charities Act (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent pemitted by law, I do not aEpt or assume responsibility to anyone other than the Charity and its Trustees as a body, for my work or this report. T E JAw&S Trevor James FCA DChA FCIE Dormer Cottage Old Broyle Road West Broyle Chichester West Sussex P019 3PR 6 January 2026
Lelung Dharma Trust Statement of Financial Activities Year Ended 31 December 2024 Unrestricted Restricted Total Funds Totsl Funds funds funds 2024 2023 Note Income and endowments from Donab'ons and grants Trading activities Other income 26,497 64,155 3,262 93,914 8,465 34,962 64,155 3,262 112,875 56,663 9,405 178,943 Total Income 8,465 102,379 Expenditure Raising funds Expenditure on charitable activities 1,826 179,131 202,943 11,556 214,499 Total expenditure 203,788 11,556 215,344 180,957 Net incomo1{èxponditure) Transfer8 between funds (109,874) (3,091) (112,965) (o) (2,014) Net movement In funds (109,874) (3,091) (112,965) (2,0141 Reconciliation of funds Total funds brought forward Total funds carried forward 1,678,523 1,568,649 88,552 1,767,075 1,654,110 1,769,089 85,481 1,767,075 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conts'nuing activities. The notes on pages 12 to 19 form part of these financial statements
Lelung Dharma Trust Balance Sheet 31 December 2024 2024 2023 Fixed a568ts Tangible assets 13 1,421.252 1,484,503 Current assets Stocks Deblors Casli at bank and in hond 14 15 1.6E)8 1,668 232 870 282,584 234,538 2114.252 Creditor8: amounts falllng due withln one yèar 16 1.680 1.680 Net eurrent a58ets 232.858 282.572 Total a$8•ts 1066 currènt Ilabillties 1.654.110 1.767,075 Credltor8'. amounts tallin9 duè after morg than ong year Not assets 1,654,110 1,767,075 Funds of tho charity Restricted funds Unre8tricted funds De5ignaled property luftd OpeBtsng fund Tol¥l charlty fund8 85.461 1,421.252 147.397 1,484.Je03 194,020 17 1.654,110 1.767.075 These financlal staternents were approved by the IrJstees ar7d aL,Ihoris¢d lor Isgue on 2026 and 8fe signed on Ihpir behalf by: M A Pug51ey Trustee 10-
Lelung Dhamia Trust Cash Flow Statement 31 Decembar 2024 2024 2023 Cash flows from operatlng actlvltles Net cash provided by operating activities 18 (46,170) 59,892 Cash flows from Investlng actlvltles Dividends, Inte5t and rents from investments Sale of fixed assets Purchase of fixed assets 3,262 1,379 9,354 (o) 10,733 (6,806) (2,544) Net cash provided byl(used in) investing activities Change In c48h and cash equlvalents In the year Cash and cash equlvalent8 at the beglnnlng ol th• year 49,714 282,584 70,625 211,959 Cash and cash aqulvalents at tho end of the year 232,870 282,584 11
Lelung Dharma Trust Notss to the Financial Ststements 31 December 2024 General information Lelung Dhama Trust {'the Charity.) is an unincorporated trust registered with the Charity Commission for England and Wales Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement 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} (effective 1 January 2015) the Charities SORP (FRS 102), and the Charities Act 2011. Lelung Dharma Trust meets the definition of a public benefit entity under FRS 102. Accountlng policies Ba818 of preparatlon The financial statements have been prepared on the historical cost basis. The financial ststements are prepared in sterling, whlch is the functional currency of the entity. Golng concern There are no material uncert8intl8s about the Charity's ability to continue. Judgem•nts and key 80urc88 of 88timatlon uncortalnty The preparation of the financial statements requires the Trustees to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations ol future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the dlscretion of the trustees to further any of the Charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal and fall into one of trwo sub-classes,, restricted income funds or endowment funds. Incomlng r•8ourc88 All income is included in the statement of financial activities when entitlement has passed to the Charity, it is probable that the economic benefits associated with the transaction will flow to the Charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Income from donations and grants is recognised when Ihere is evidence of entitlement to the funds, Ceipt is probable, and its amount CAn be measured reliably. Income from sales is recognised at the time of sale. Donated facilitles and services are recognised in the accounts when ree2ived if the value can be reliably measured. No amounts are included for the contribution of trustees or other volunteers. Interest on funds held on deposit is included on notification of the interest paid or payable by the bank, Resources expended Expenditure is recognised on an accfuals basis as a liability is incurred. Expenditure on raising funds includes the costs of all fundraising activities. Expenditure on charitable activities includes all costs incurred by the Charity in undertaking activities that further its charitable aims, including those support costs and costs relating to the govemance of the Charity apwrtioned to charitable activities. 12
Lelung Dhama Trust Notes to the Financial Statements 31 December 2024 Accountlng pollcies (contlnued) Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated directly to that activity. Shared costs are apportioned betrrfeen the activits'es they contribute to on a reasonable, justifiable and consistent basis. Operatlng loases There are no operating leases. Any lease payments would be recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives would be recognised as a reduction to expense over the lease term, on a straight-line basis. Tanglble flxed assets Tangible fixed assets costing more than £250 are capitslised. They are initially recorded at cost, and subsequently stated at cost less any accumulated depCiatIon and impairment losses. Depreclatlon Depreciation is ¢2lculated so as to write off the cost or valuation of an asse( less its residual value, over the useful economic life of that asset as follows.. Freehold propety over 20 years on a straight line basis Motor vehicle 250kn on reducing balance Stocks Stocks are stated at the lower of cost and net realisable value. Donated items of stock, held for distribution or resale, are not recorded or valued a the time of donation and are only recorded when sold. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due, Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions 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 and provisions are normally recogni5ed at their settlement amount after allowing for any trade discounts due. Financial instruments A financial asset or a financial liability is recognised only when the Charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Taxatlon The Charity is exempt from corporation tax on its income to the extent that it is used for charitable purposes. 13-
Lelung Dharma Trust Notes to the Financial Statsments 31 December 2024 Donations and grants Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Donations and grants Donations and gift aid receivable Legacies 21,497 5,000 8,485 29,962 5,000 112,875 28,497 8,465 34,962 112,875 Year ended 31 December 2023 45,881 66,994 Trading activities Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Shop sales 64.155 64,155 56,663 Year ended 31 December 2023 56,663 Other Income Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Surplus on rapPIng Mini Bus Bank interest 8,026 1,379 3,262 3,262 3,262 3,262 9,405 Year ended 31 December 2023 9,405 Costs of ral8lng lunds Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Shop purchases 1,826 845 1.826 Year ended 31 Dember 2023 1,826 -14-
Lelung Dharnia Trust Notes to the Financial Statements 31 December 2024 Expendlture on charltable actlvitie8 by activlty type Trust Activities Support Total Funds Total Funds Costs 2024 2023 Living expenses Donats'ons Tsering Passang Nyingmapa Mahabodi Society GBPR sponsorship and support Donation for Geshe Ceremony Education and other sponsorship ststues of 1. Lelung Transport of goods to Indla Wages and salaries Peace House Electricity Rent and rates Repairs and renewals Telephone Travel Miscellaneous Independent examination Depreciation 23,400 6,168 11,730 4,586 3,400 1,000 3,750 6,000 3,654 23,400 6,168 11,730 4,586 3,400 1,000 3,750 6,000 3,654 24,466 28,699 5,477 405 422 951 1,373 17,281 1,680 70,057 14,400 7,715 428 13,000 9,165 5.500 1,557 19,710 2,966 7,414 1,121 3,666 830 1,173 24,468 1,680 66.164 24,466 28,699 5,477 405 422 951 1,373 17,281 1,680 22,178 47,879 111,567 102,932 214,499 179,131 Year ended 31 December 2023 98,957 80,174 Net Incomo Net Income is stated after charging: 2024 2023 Depreciation of tsngible fixed assets Professional fees - Independent examiner's remuneration 70,057 1,680 66,164 1,680 10. Independent examlner's remuneration 2024 2023 Fees payable for the examination of the financial statements 1,680 1,680 11. Staff costs Throughout the year the Charity had 2 employees (2023.. 2 employees). Total remuneration pald to the Charity's employees, including employerfs pension and social security costs, was £24,46612023. £19,710). No employee was paid more than £60,000. Many of the Charity's activities are carried out by volunteers who are unpaid. No record is kept of the donated time. 12. Trusteo romun•ratSon and expen888 One trustee, Lelung Tulku, the Spiritual Leader, received a stipend of £23,400 (2023.. £14,400). Other than this none of the trustees or persons connected with them received any remuneration, benefits or reimbursement of expenses in the year for work as a trustee (2023'.Nonel. Any claim for expenses would be subject to the Charty's normal internal control procedures. Is-
Lelung Dhamia Trust Notes to tha Financial Ststements 31 December 2024 13. Tanglble flxed assets Pea House Shop premises Total Cost At 1 January 2024 Additions 1,343,831 6,806 411,558 1,755,389 6,806 At 31 Dec8mbor 2024 1,350,637 411,558 1,762,195 Depreclatlon At 1 January 2024 Charge for the year Written off 212,364 47,879 58,522 22,178 270,886 70,057 At 31 December 2024 260,243 80,700 340,943 Carrylng amount At 31 December 2024 1.090,394 330,858 353,036 1,421,252 At 31 December 2023 1,131,467 1,484,503 Freehold properties are a building known as Peace House and Lelung Dharma Centre which was purchased in 2019 and shop premises purchased in 2021. Freehold property includes land valued at £400,000. The land is not depreciated. 14. Stocks 2024 2023 Stock of goods for re*sale 1,668 1,668 Stocks of stationary and packaging materials are not valued, 15. Debtor8 2024 2023 Gift Aid tax refundable Other debtors 16. Crndltorn: amounts falllng due wlthln one year 2024 2023 Accruals Loan 1,680 1,680 1,680 1,680 16-
Lelung Dharma Trust Notes to the Financial Ststements 31 December 2024 17. Analy818 of not assets b•twe8n funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,421,252 149,077 (1,680) 1,568,649 1,421,252 234,538 (1,680) 1,654,110 85,461 (o) 85,461 Prfor Year Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Nèt assets 1,484,503 195,700 (1.680) 1,678,523 1,484,503 284,252 11,680) 1,767,075 88,552 (o) 88,552 18. Movem8nt In fund8 At 1 January 2024 Incoming resources & gains Outgoing resources & losses At 31 December 2024 Transfers R•strlctod fund8 Peace House, Buildin8 Prolect fund Sponsorship 64,750 23,802 5,735 2,730 (6,806) (4,750) {0) 63,679 21,782 88,552 8,465 (11,556) {0) 85,461 Unre8trlcted funds Designated property fund Operating fund 1,484,503 194,020 6,806 87,108 (70,057) (133,731) (203,788) 1,421,252 147,397 1,678,523 93,914 1,568,649 1,767,075 102,379 (215,344) 1,654,110 17-
Lelung Dhamia Trust Notes to the Financial Statements 31 December 2024 17. Analy815 of net assets be¢•n funds (contlnued) Prior year At 1 January 2023 Incoming resources & gains Outgoing resources & losses At 31 December 2023 Transfers Restrlcted funds Peace House, Dharma Centre fund Shop premises fund Covid sponsorship 64,750 2,244 (o) (2,244) (o) 64,750 23,802 23,802 23,802 66,994 {2,244) {0) 88,552 Unrestricted funds Designated propety fund Operating fund 1,551,995 193,292 (66,164) {112,549) (1,328) 1,484,503 1,328 194,020 111,949 1,745,287 111,949 (178,713) 1,678,523 1,769,089 178,943 (180,957) 1,767,075 Peace House and Dharma Centre fund.. The purchase of this building was funded through restricted donations. Each year an amount equal to the depreciation charged in the year is written off from the fund. The fund will be fully written off over the buildings 20 year estimated useful life. Major improvements are capitslised and written off over 20 years. Shop premises fund.. The purchase of this building was funded through restricted donations. Each year an amount equal to the depreciation charged in the year is written off from the fund. The fund will be fully written off over the buildings 20 year estimated useful life. 18. Reconclllatlon of net incomel(expendltur•) to n•t ¢ash flow from oporatlng activllie8 2024 2023 Net incomel(expenditure) as per Statement of Financial Activities Depreciation charges Mini van scrapped Dividends, interest and rent from investments (Increase)Idecre8se in stocks {increase)Idecrease in debtors Increasel(decrease) in creditors (112,945) 70,057 (2,014) 66,164 (8,026) (1,379) 1,826 4,741 (1,420) {3,262} (46,170) 59,892 18
Lelung Dharma Trust Notes to the Financial Statements 31 December 2024 19. Analysis of cash and cash equivalents At31 December 2024 At 1 January 2024 Other Changes Cash flows Cash in hand 282,584 (49,714) 232,870 Totsl cash and cash equivalents 282,584 (49,714) 232,870 Prfor year At31 December 2023 At 1 January 2023 Cash flows Other Changes Cash in hand 211,959 70,625 282,584 Total cash and cash equivalents 211,959 70,625 282,584 20. Operatlng lèase commltments There are no operating lease commitments (2023.. None). 21. Related partles Charity trustee and Spiritual Leader, Lelung Tulku, received a stipend of £23,400 (2023: £14,400). No other trustee received any payment or benefits (2023.. Nil). No trustee received payment or reimbursement for travel or subsistence costs incurred apart from Lelung Tulku when travelling on behalf of Trust business. 19-