Tashi Lhunpo Monastery UK Trust Report of the Trustees and Flnancial Statements for the Year Ended 31 May 2024 Charity No: 1100175
Tashi Lhunpo Monastery UK Trust Index to the Financial Statements For the year ended 31 May 2024 Contents Page Legal and Administrative Details Report of the Trustees Report of the Independent Examiner Statement of Financial Artivitie5 Balance Sheet Note5 forming part of the Financial Statements 8-12
Tashl Lhunpo Monastery UK Trust Legal and Administrative Detai15 Forthe year ended 31 May 2024 CHARITY REGISTERED NUMBER 1100175 TRUSTEES Jane Rasch Debbie Rigg Venerable Kelkhang Rinpoche Mark Eynon Lady Naipaul David Holme Michael Whitewood lappointed on 10 August 20231 OPERATIONAL ADDRESS The Round House Netton Salisbury Wiltshire SP4 6AW ACCOUNTANT AND INDEPENDENT EXAMINER Simon Ellingham FCA DChA Fawcett5 LLP Chartered Accountants Windover House, St Ann Street, Salisbury, SPI 20R BANK Lloyds Bank PIC 38 Blue Boar Row Salisbury Wiltshire SPI IDA Page I
Tashi Ihunpo Monastery UK Trust Trustee Report For the year ended 31 May 2024 The Trustees present their Annual Report and Accounts for the year ended 31 May 2024 which have been prepared in accordance with Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in actordance with the Financial Reporting Standard applicable in the UK and Republit of Ireland IFRS1021 leffective l January 20151. STRucfuRE. GOVERNANCE AND MANAGEMENT The charity is constituted by a deed of trust dated 15 September 2CN)3. The charity is operated by its trustees who meet periodically. New trustees are recruited from among people who have an interest in furthering the aims of the trust, with a view to ensuring that all the necessary competencies are represented on the trustee body. RISK MANAGEMENT The trustees confirm that they have reviewed the risk5 to which the charity is exposed and they have implemented policies to mitigate the risks which they have identified. OBJECTIVES AND ACTIVITIES The trust was founded to advance the education of the public in the art, science and religious faith of the Buddhist culture of Tibet particularly as embodied in the Tashi Lhunpo Monastery of 8ylakuppe, near Mysore, South India. PUBLIC BENEFIT STATEMENT When planning the activities for the year, the Trustees have considered the Charity Commission'5 guidance on public benefit and, in particular. the specific guidance on charities for the advancement of education. The Trust is increasingly offering workshops to schools in connection with performances which are often offered free of charge. ACHIEVEMENTS AND PERFORMANCE The beginning of June 2023 was in the middle of the summer tour, this time in the hands of Trustee David Holme who ha(1 taken on the driving from Jane R, for the duration of the tour. In June the monks were in residence in Harewood House, making the Odpakme Mandala and running a series of workshops and dances in the afternoons of the Courtyard. On 3, June they gave a performance in the Howard Assembly Room in Leeds to a sold out theatre. They left direct from Harewood with for the Wychwood Festival at Cheltenham Racecourse for a short performance before returning to S31isbury. A day vi51ting three primary schools in Newbury organized by the Newbury Festival followed, and then a residency at the East Dorset Museum in Wimborne for a Sand Mandala. Then there was a long drive north to Hexham for a performance in the Queen's Hall, and on to Findhorn via Edinburgh University School of Divinity for a short presentation to 200 school children. At Universal Hall Findhorn, the monks made a Peace Mandala, held workshops and gave a performance. There was a short performance in Glasgow for the Scottish Refugee Festival and then the monks travelled on to St Andrew5 University for the European Academy for the Study of Religion Conference, joined by Jane R who had travelled up from Salisbury by train. Page 2
Tashl Ihunpo Monastery UK Trust Trustee Report For the year ended 31 May 2024 ACHIEVEMENTS AND PERFORMANCE CONTINUED... On the return south, a very successful workshop day was held at stonehenge School in Ame5bury, and the onks left with David Holme to Barnstaple for a performance in the Queen's Theatre. From there it was on to the ferry to the Isle of Wight and a return visit to Quay Arts for a mandala, workshops and a performance. In earty July we returned to Salisbury and put on two performances in the wonderful Medieval Hall in Salisbury Cathedral Close. The mandala and some of the dance performance was recorded for the BBC Sunday Mornin Live pro8ramme and included interview5 Wlth the monks. Then it Was to North Wales, first for a performance in the Ucheldre Centre in Holyhead, followed by a day at the Musical Eisteddfod at Llangollen, sadly badly curtailed by torrential rain, and followed by Tibet Day at Eyarth House at the invitation of Mr and Mrs Fleming. Lichfield Festival engaged the monk5 for a matinee performance for schools in the Garrick Theatre in Lichfield, and then it was to Bridgwater Arts Centre, Dorchester Arts Centre and Strode Theatre in Street, Somerset. David and Jill Holme then took the monks to Italy to the Mandali Foundation north of Milan, where they made a Peace Mandala, did a performance and ran workshops for participants. Returning to the UK, the monks gave a performance in Peterborough at the New Theatre and from there went on to Diss in Suffolk for a residency in The Corn Hall with a mandala, a series of Wofkshops and a performance during the week. Sadly the planned cricket match wa5 cancelled due to the weather. The final phase of the tour saw the group at the Sidmouth Folk Festival, EartH Theatre in Hackney for Future Sound Presents,, and an end of tour supper with some of our Trustees and helpers. The monks left for India on iith August and were soon back in the monastery having a well-earned rest. The tour was only made possible because of the invaluable help of our Trustees. David Holme and his wife Jill. Tony Harker who took on some of the driving and our generous host5 who looked after the group during their Stay. Meanwhile planning for the 2024 tour was already under way with an emphasi5 on the Ith anniversary of the first Tibetafi monks Ifrom Gyantse Monasteryl who had visited the UK to promote screenings of a Silent film about the attempt to climb Everest by George Mallory and Sandy Irvine. With the encouragement and enthusiasm of Trustee Michael Whitewood research into the project began with visits to the Royal Geographical Society and the Alpine Society as well as searching out relevant images and materials. Shortly before the monk5 returned to India we held a photo session with Charlotte Graham at Wembley which had hosted the 1924 British Empire Exhibition at which Tibetan dance5 had been seen for the first time. Jane R spent three days at Womex in A Coruna in Spain and had meetings with a number of European agents and venue representatives in the hope of arranging more foreign engagements in future tours. Planning for the next tour scheduled for September to November 2024 began in earnest, along with a promotion of an evenlng in the Royal Geographical Society which was to take place in early June as part of the Society's celebration of the centenary of the Everest attempt. Page 3
Tashi Lhunpo Monastery UK Trust Trustee Report For the year ended 31 May 2024 OTHER FINANCIAL A1VITIEs We are grateful for the loyalty of our many sponsors who continue to SUPPOrt the monastery through regular donations to the Trust. The Trustees extend their thanks to Leila Clarke who very ably manages the sponsorship scheme. Our on-line shop through the website has been fairly active, and the demand for yak blankets, marketed and managed by Jill and David Holme, still provides a small income. We also receive royaltie5 from broadcasts of rnusic recorded by the monks. Trustee Michael Whitewood provided expert advice and input to our social media presence. whith we will continue to develop in the future. FINANCIAL REVIEW The Trust's total income amounted to £114,68312023.. £51,750) and it pald £nS112023: £6001 in grants. After tour expenses of £19,37612023.' £20.5841, costs of sales of cultural product5 of £2,68712023.- £2,6111, grants paid of £118,82612023.' £nill and administration costs of £4,257 12023.. £3,228), there were net outgoing resources of £30,46312023.. IncomlnB resources of £24,727). PLANS FOR THE FUTURE The Trust intends to continue to work towards SUPPOrting the monastery through touring and other activities in the future. lane R has been in discussion with Trustees and the Monastery about planning for the future as she will be unable to undertake full responsibility for touring after December 2025. Alternative options for support are being suggested and will be included in the next Annual Report. Page 4
Tashl Lhunpo Monastery UK Trust Trtsstee Report For the yearended 31 May 2024 Re5ponsibllities of the Trustees The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gerberallv Accepted Accounting Practice). The law applitable to charities in England & Wales require5 the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming reurCeS and application of resources of the charity for that period. In preparing these financial statement5, the trustees are required to: select Suitable accounting policies and then apply thern consistently; observe the methods and principles in the Charities SORP 2015 IFRS 1021; make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards and statements have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements complv with the Charities Act 2011, the Charities (Account5 and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguardin8 the a55ets of the charity and hence for taking reasonable 5tep5 for the prevention and detection of fraud and other irregularitie5. Approved by the Trustees on and signed on their behalf by Debbie Rigg Page 5
Tashl Lhunpo Monastery UKTrust For the year ended 31 May 2024 I report to the charity trustees on my examination of the account5 of the charity for the year ended 31 May 2024 whith are set out on pages 7 to 12. Responslbllltles and ba515 of report As the chariws tru5tee5 you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the ACVI. I report in respect of my examination of the charitrfs accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commlssion under Section 1451511bl of the Act. Independent examSner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 8ivin8 me cause to believe that in any material respect.. a¢countlnE records were not kept In respect of the ¢harty as reqvlred by sectlon 130 of the Art- or the accounts do not accord with those records,. or the accounts do not comply with the applicable requlrement5 concernlng the form and content of accounts set out in the Charities IAccounts and Reports) Regulation5 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. Simon Ellin8ham FCA OChA Fawcetts LLP Chartered Accountants Windover House, St Ann Street, Salisbury, SPI 20R Date.. Page 6
Tashl Lhunpo Monastery UK Trust ststement of Nnan¢ial Actlvltle$ Forthe year ended YI May 2024 Year to 31.05.24 Yearto 31.05.23 Unrestricted Restricted Note INCOME AND ENDOWMENTS FROM: Voluntary income.. Donations Special pioject5 Sponsorship Other income 5,655 30 14,007 1,202 5,655 10.030 14.007 1,202 4,943 10,000 13,125 702 Charitable artivities- Tour income Sale of tultural products 44,129 39,660 44.129 39,660 10,928 22,052 TOTAL INCOME AND ENDOWMENT5 104.683 10,000 114.683 51,750 EXPENDITURE ON: Charitable artivities: Tour expenses Costs of sale of cultural products Grants to Ta5hi Lhunpo Monastery Administration costs 1.016 586 106,301 4,257 18,360 2.101 12,525 19,376 2,687 118,826 4.257 20,584 2.611 600 3,228 TOTAL EXPENDITURE 112,160 32,986 145.146 27,023 Net ExpendSture 17,4771 122,9861 130,4631 24,727 Gross transfers between fund5 Net movement in fund5 17,4771 122,9861 130,4631 24,727 Re¢on¢iliatioTr of funds.. Total funds at l June 2023 24,068 22,986 47,054 47,054 Total funds at 31 May 2024 16,591 16,591 71.781 There were no recognised gains and losses other than those shown in the above Statement of Financial Activities. All incoming resources and resources expended derive from continuing activities. Page 7
Ta5hi Lhunpo MOstery UK Trust Balance Sheet As at 31 May 2024 2024 2023 Notes Tanglble flxed assets Office equipment Current assets Stock Cash at bank & in han(1 3,659 15,032 3,852 44,252 18,691 48,104 Credltoys: amounts falling due within one year 12,1001 11,0501 Net current assets 16,591 47,054 Net assets 16,591 47,054 The Funds of the Charity Restricted Funds 22,986 Unrestricted Funds 16,591 24,068 Total Funds 16,591 47,054 The Trustees acknowledge their responsibilities for: lal ensuring that the charity keeps proper accounting records- and Ibl preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or105s for the financial year. The accounts have been prepared in accordance with Atcounting 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 IFRS102) (effective l January 20151. Approved by the Committee on and signed on its behalf bv Debble Rigg Page 8
Tashi Lhunpo Monastery UK Trust Notes to the Financial Staternents For the year ended 31 May 2024 l. Accounting policies Basis of accountlng The charity constitutes a public benefit entity a5 defined by FRS102. The accounts have been prepared in accordance with 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 IFRS1021 leffective l January 20151- Taxatbon No tax is provided for as Tashi Lhunpo Monastery UK Trust, being a charity, is exempt. Because of its current activities Tashi Lhunpo Monastery UK Trust is not registered for VAT and therefore cannot recover VAT on its expenses. Fund5 accounling General funds are unrestricted funds available for use at the discretion of the trustees in furtherance of the general activities of the charity and which have not been designated for other purposes. Restricted funds are to be used for specified purposes as laid down by the donor or which have been raised by the charity for particular purposes. Incomlng resourtes All incoming resources, including legacies, are recognised once the charity has entltlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Resources expended Liabilitie5 are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs related to the operating activities of the charity. Grants are recognised when any conditions necessary for payment have been met. Charitable activities comprise all the resour¢e5 applied by the charwty in undertaking its work to meet its charitable objectives and includes tour expenses, cost of sales of cultural products and grants made to the Tashi Lhunpo Monastery. Fixed assets Tangible fixed assets costing more than £l,IJOO are capitalised and are included at cost. Depreciation is calculated at appropriate annual rates estimated to write off the tosts of fixed assets less their estimated Yesidual value over their useful lives as follows- Motor vehicles Office equipment 25% on a straight line basis 25% on 3 Straight line basis Stock Stock is carried at the lower of cost and net realisable value, after provision for slow-moving items. Page 9
Tash5 Lhunpo Monastery UK Trust Notes to the F5nanclal Ststements Forthe year ended 31 May 2024 l. Accounting policies. Collt. Jud8ements and key sources of estlmatlon uncertalnty The preparation of the financial Statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimate5 and judgements are continually revlewed and are based on experience and other factors, Includlng expectatlons of future events that are belleved to be reasonable under the cirtum%tances. No signlfTr¢antludgements have had to be made In preparlng these financial statements. 2. AdminlstratSon costs Year to 31.05.24 Year to 31.05.23 Independent examiner's fees Office expenses 1,050 3,207 I,iio 2,118 4,257 3.228 3. Transactions with Trustees In accordance with Clause T 1111 of the charity's Declaratlon of Trust. Mlss Jane Rasch charged fees for managing the tours of which £nil12023= £nill related to the period under review. During the year, no Trustees 12023.. nonel receTved any eKpenses 12023: £nill. Neither the Trustees nor persons connected with them received any remuneration from the charity for their seNices as Trustees. 4. Fixed assets Motor Vehicles Office Equipment Total Cost: At l June 2023 Additions At 31 May 2024 7,194 4,925 12,119 7.194 4.925 12,119 Depre¢latlon: At l June 2023 Charge for year At 31 May 2024 7,194 4,925 12.119 7,194 4,925 12.119 Net book values: At 31 May 2024 At 31 May 2023 Page 10
Tèshi Lhunpo Monastery UK Trnst Notes to the Financlal Statements For the year ended 31 May 2024 5. Llabllltles: Amounts falling due within one year Year to 31.05.24 Year to 31.05.23 Accruals 2,100 1,050 2,100 I,oso 6. Analysi5 of net assèts bètween fund5 Fixed ssets Net current a55et5 Total Restritted funds Unrestricted funds 16,591 16,591 16,591 16,591 7. Movement In Funds Restricted funds At Incoming Outgoing At 01.06.23 & transfers & tr3nsfer5 31.05.24 Sponsorshlp 12,525 112,5251 Special Projert Funds Llbrary Project Dukhang Food fun(i Clinic Kitchen project Davey School donation Fra51 Schcw)I 7,140 1.436 150 515 1,220 17,1401 11,4361 11501 15151 11,2201 17,0001 13,(KlOI 7,000 3,000 Total restricted fuo)ds 22,986 10,000 132,9861 Total unrestrlcted funds 24.068 104,683 1112,1601 16.591 Total furlds 47,054 114,683 1145,1461 16,591 Pagell
Tashi Lhunpo Mon•stery UK Trust Notes to the Flnancial Statements For the year ended 31 May 2024 7. Movement in Funds continued... Com arative balances for the ear ended 31 Ma 2023 At Incoming Outgoing At 01.06.22 & transfers & transfer5 31.05.23 Sponsorship 13,125 16001 12,525 Special Project Fund5 Library Project Dukhang Food fund Clinic Kitchen project 7,140 1,436 150 515 1,220 7,140 1,436 150 515 1,220 Totsl restricted funds 10,461 13,125 16C4JI 22,986 Total unrestricted funds 11,866 38,625 126,4231 24,068 Totsl funds 22,327 51,750 127,0231 47,054 The Sponsorship fund represents amounts received from sponsors in the year which are then transferred to the Monastery. Amounts received and not transferred by the balance sheet date are included within The re5trirted funds represent amounts given to the Trust with restrictions as to their use. All the funds were expended during the year In accordance with those restrictions. Speclal Prolert Funds represent donations for specrfic projects undertaken at the Monastery as noted above. Page 12