Reglsterod number: 05692043 Charlty numb•r: 1114404 TIBET WATCH (A Company Limlted by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TIBET WATCH (A Company Llmlt•d by Guarant••) coTENT8 Page Ref•r•nu and Admlnlstratlvo taIlS of the Charfty, Its Trusts•s and Advls•rn Tru#t•e•' Report Indopendont Examlnorfs Report statomont of Flnanclal Actlvlllas Balanc• Sh••t 10 Notss to the Flnanclal Slat•m•nts 11-22
TIBET WATCH (A Company Llmlted by Guarantse) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees D Russell M Gruninger, Treasurer J Hipgrave, Chair M Whitticase {resigned 10 November 2023) K Saunders (resigned 19 February 2024) Dr N Kaul Company roglstorod numbor 05692043 Charlty roglstored number 1114404 Reglslored office ER82 The Llnk 49 Effra Road SW2 1BZ Head of Pollcy & Research J Jones Accountants Gibson Appleby Chartered Accountants 1-3 Ship Street Shoreham-by-sea West Sussex BN43 5DH Bankers The Covoperative Bank PIC PO Box 250 Skelmersdale WN8 6WT Sollcftors Bates Wells & Bralthwaite 2-6 Cannon Street London EC4M 6YH Page 1
TIBET WATCH IA Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report together with the financi81 statements of the charity for the period 1 April 2023 to 31 March 2024. The Annual Report senies the purposes of both a trustees, report and a directors. report under company law. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements. the requirements of the charitable companVs governing document and the provisions of the Statement of Recommended Practice {SORP) applicab18 to charities preparing their a¢Unts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the charity qualifies as small under section 382 of the Companies Act 2006. the Strategic Report requirèd of medium and large companies under the Companies Act 2006 {Strategic Report and Directors. Report) Regulations 2013 is not required. Objocllves and stratoglgs . Summary of Actlvilios Undertaken For the Publlc Bonofit Tibet Watch works to promote the human rights of the Tibetan people through monitoring, research, and advocacy. Its outputs are used by researchers. joumalists, and pollcymakers to better understand human rights and political developments in Tlbet. b. Human Rights Monltorlng We document and expose the ongoing human rights abuses In Tlbet using a wide range of sources. Our researchers collect informatlon from a neork of individuals inside Tlbet who are committed to ensuring that the world hears the truth about the day-to-day repression that Tibetans face under occupation. We also carry out interviews with newsy arrived Tibetan refugees, monitor Chinese government websites and media, track changes in pollcy or law and review both Tibetan and English language news. We believe that accuracy is vital in our work and so all the inforniation disseminate is verified and corroborated before being published or passed on. All the information we collect is recorded on a secure human rights database. In addition to our own advocacy work, our irrformation is used by national govemments. UN bodies. NGOS, campaigning groups and by international media. The archive on our website (tibeatCh.org} shows the key stories )Ne have shared each month and the intemational reach we have achieved. c. Research As well as human rights monitoring and incident reporting. Tlbet Watch also identifies trends in Tlbet and carrie5 out thematic research and analysis. This includes the introduction of new laws that affect Tibetans and regional developments. The field team speaks Chinese. English, Hindi. and Tibetan and uses these language skills to track government websites, national and regional media, social media and other sources. The team is also adept at using other fonns of open-sourc8 research such as analysing satellite images and local government procurement documents. Thls Information allows Tibet Watch to contextualise its human rights monitoring, and explain why somethlng has happened. not just what. Tlbet Watch's research Is used to draft thematic reports, government brlefings, infographics, all of which can be used by the Tlbet movement. Page 2
TIBET WATCH (A Company Llmit•d by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and strategles {contlnued) d. Advocacy We undertake regular advocacy viith the UK government and also communicate with other national govemments when the opportunity arises. In addition, we monitor China's reporting progre55 With the various human rights bodies at the UN and engage directly where we are able to pn)vide relevant evidence. A full summary of our recent interaction with specific UN mechanisms is provided on our website. e. Publlc Benefit The Trustees confirm that they have considered the general guidance issued by the Charlty Commission in connection vrfith public benefit in setting the objectives of the charity and. in particular. have considered how planned a¢tlvitle5 further the charws objectives. They consider that the activitles carried out. summarized below In the 'Achievements' sectlon of this report provlde benefit to the communlty. f. Other Nothing to report. Achlevemonts and perfomiance a. Human Rights Monitoring During 2023124. Tlbet Watch contlnued lo provlde Free Tlbet wlth Infomiatlon on Tibet through its research work, open-source analysis. interviews wlth Tlbetsn refugees and information supplied by sourc8s inside Tibet. Of particular note were: Thrèats posed to Ilves and livelihoods by megadevelopment projects. In February 2024. news emerged of mass protests in eastern Tibet in response to the construction of a hydropower (lam that would see villages and monasteries flooded in Dege and Jomda countie5. Tibet Watch played a leading role in obtaining news about these unusually large demonstrations and the ensuing arrests and police violence. as well as providing a wealth of background research on the hydropower dam projects. This Information wa5 used across the Tibet movement and in summer 2024 would result in Ihe launch of a publiG campaign againsl the hydropower dam. Notably. Tibet Watch's research not only established facts, but corrected some early misraporting from other sources. giving Tibet groups aGGurate information lo work with. Research on school elosurns and rnstrlctlons on the Tlbetan language. This is a growing trend. referred to by sources inside Tibet and interviews with newly arrived Tibelan refugaes. This informalion will form the basis of a thematic report on the issue of linguicide in 2024-2025. Inforniatlon on human rlghts defenders and polltl¢al prfsoners. Tibet Watch continued to provide information on political prisoner cases based on contsct with sources. Particularly notable was the field team's ability to get timely infomiation on work by Gonmo Kyl in Lhasa. who has been carrying out a series of appeals and protests calling for the release of her imprisoned brother Dorjee Tashi. The team obtained and translated video updates from Gonmo Kyl within a day of their release, enabllng Tibet groups such as Free Tibet to publlsh news stories on Doriee Tashi's continued imprisonmenl. When Gonmo Kyi and her husband were d8tained in December 2024. Tibet Watch quickly provided information, enabling Free Tibet to launch an emergency online campaign demanding that she be released. After one 8k in detention, Gonmo Kw and her husband were freed. Page 3
TIBET WATCH (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performanco {continuod} Tibet Watch also quickly obtained information on the language advocate and former political prisoner Tashi Wangchuk when he was attacked in August by a group of Unidentifd. masked men. Tibet Watch managed to establish contact with Tashi Wangchuk and get a detailed testimony. providing the Tibet movemenl with updates on his case and serving as the basis for a small campaign by Tibet groups to demand that he be given protection. b. Research Refugee InteNlews. In 2023. an unusually high number of Tibetan refugees reached Dharamsala. north India. where they wor8 int8rview8d by the Tibet Watch field team. The team managed to interview over 20 people in this period. covering a range of backgrounds and ages. The testimonies We very detailod and covered experiences of tortu and discrimination, observations on restrictions on the Tibetan language and Tibetan Buddhism, and details of surveillance by security forces. There were also valuable historical insights. such as one Tibetan's experièncès of the Cultural Revolution in China in the 1960s. Thls was one of five testimonles that were serialised as online artlcles. Details from other testimonies formed the basis of reports. Int•rvi•ws In Nepal. During thls financlal year. the Researth Manager travelled to Nepal twice to do scoping work with the Tibetan community with the alm of establishing new information networks. Tibetan traders travel seasonally between Tibet and Nepal and have valuable information about ev8nts inside Tibet. The researcher established contact with around 30 local Tibetans. Includlng the director of the r8fug8e reception centre. This is a vitsl stage in creating conditions for secure informatlon sharing. These information neOrkS wlll supplement similar information networks established by the team In monasterles in south India. Report launch. Tibet Watch and Turquoise Roof released Weaponizlng Big Data.. D8coding China's Digital Surveillance in Tibet in February. The report was inspired by detalls In a refijgee's testimony about an app that Chinese police compelled them to install. Working wlth a digital security expert, we learned that the app could be used to track movements and Interactions. After outreach to joumalists, the report was the subject of a detailed article by the BBC. News Stories. Information obtained by Tibet Watch's researchers, verified and cont8Xtualised, generated 33 news Stories beeen April 2023 and March 2024, each of which was shared on social media to amplfy their range. K8y Stories were shared with MPS in the UK parliament. journalists and UN human rights experts. c. Advocacy In April 2023, Tibet Watch's Senior Researcher was invited to testify at a hearing by the Canadian Parliament on China's colonial boarding school system in Tibet. In her presentation, she shared the testimony from a 15- year-old Tibetan refugee who escaped to Dharam5ala earlier this year and was interviewed by the field team. The testimony revealed details of life in a colonial boarding school. The Senior Researcher also look the opportunity to highlight wider government policies to eradicate the Tibetan language from schools and public lrfe. China's Universal Periodic Review took place at the Human Rlghts Council in January 2024. In preparation, Tibet Watch and Free Tibet wrote a detailed submission of key human rights violations in Tibet and recommendations, which were used to lobby UN member states In autumn 2023. The overall objective was to increase the number of mentions, recommendations and advance questions by member states about Tibet. This was achieved by some distsnce, wlth a record 20 UN member states using China's UPR to raise the human rights situation in Tibet, making 24 recommendations between them, more than double the number in Chlna's last revlew in 2018. Page 4
TIBET WATCH (A Company Llmltsd by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievoments and perfomiance (eontlnued) d. Publlc Outreach Tibet Watch has developed significantty over the past year in ts Gapacity to provide comment and analysis by Tibetan spokespeople to the media. policymakers and the wider publlc. Tibet Watch's Research Manager and Senior Researcher both repsented the organisation in media interviews during the reporting period. As of summer 2023. Tibet Watch has been assisting news company ITN with a documentary on Tibet, due for release in spring 2025. Tibet Watch members gave the project lead extensive background on Tibet and key contacts. and accompanied the lead on a visit to Dharamsala. wher8 sh8 interviewed Tibetans in exile. Informatlon obtained by Tibet Watch was converted into infographics, short videos and Instagram reels to brlng Tlbet Watch's research to a wider online audi8nce. Flnanclal revlew a. Reserves pollcy The trustees hold reserves in order to prudently manage the charitys finances and support Its future development. In rec8nt years the charity has endeavoured to build up an operational reserve, which has been achieved and the agreed sum was also maintained during 2023-2024. b. Investment Policy The twstees Invest a portlon of Tibet Watch's net reserves in short dated UK government bonds which provid8 the lowest possible risk of loss.The balance of funds is kept on deposit at UK banks. Structure. govemance and management a. Constitutlon Tibet Watch is a company limited by guarantee with no share capital, governed by a Trust Deed made in 2006 and its Memorandum and Articles of Association dated 30th January 2006. It is a registered charity viith the Charity Commission, charity registration number is 1114404. b. Trustee Selection Tibet Watch is govemed by a Board of Trustees whose members are elected as the need arises. The Trustees who hav8 S8rved during the year are set out above. Trustees are sought from among those who have In-depth working knowledge of Tlbet either through thelr paid employment or having been active in a Tibet related NGO for several years wlth a preference for those wlth professional expertise in research and infomiation processlng or other relevant experience eg publishlng. legal. human rights, etc. Page 5
TIBET WATCH {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structure, governance and management (Gontinued) c. Induction and Training of Trustees New trustees are provlded wlth coples of the Memorandum and Articles, together with the current strategy, recent bi-annual reports and any recent thematic or advocacy reports. They will also receive a personal briefing from the Head of Policy and Research of Tibet Watch and the Chalr of the Board of Trustees. d. Organlsatlonal Structure The Board of Trustees admlnisters the charlty and meets bl-annually. Responsibility for the day-ttrday management of the charity has been delegated to the Head of Pollcy and Research, appointed by the trustees. The Head of Policy and Research has delegated authority. wlthln temis approved by the trustees, for all operational matters. including finance. e. Related Party Relationships The charity has a close working relationship with Free Tibet, which uses the evidence and analysis secured by Tibet Watch to inform and shape its campaigns and to disseminate accurate and corroborated information and analysis on Tibet to the intemational media. f. Rlsk management The trustees maintaln an overslght of the rlsks to which the Charity might be exposed. including risks related to operations as well as to the Charltys financlal position and reputation. In preparing this report, the trustees have taken advantsge of th8 small companies exemptions provided by section 415A of the Compani8s Act 2006. Page 6
TIBET WATCH (A Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees. responslbllltles The trustees (who ar8 also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees, Report and the financial stat8m8nts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlres the twstees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial ststements unless they are satisfied that they give a true and fair vlew of the stste of affairs of the charlty and of Its Incomlng resources and application of resources. induding ts income and expenditure. for that perlod. In preparlng these financial ststements. Ihe Irust88s are required to: select suitable accounting policie5 and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state vthelher appllcable UK Accountlng Standards {FRS 102) have been followed, subject to any materlal departures dlscbsed and explalned In the financlal ststements. prepare the financial statements on the going concem basis unless it Is Inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitvs transactions and disclose with reasonable accuracy at any time the finanGial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the l)oard of trustees and signed on their behalf by: Ipgrave Chair Date: I'l DcceA6oI ILF Page 7
TIBET WATCH (A Company Llmlted by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to th• Trustoes of Tlbel Watch {Yh• charlty.) I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024. Rosponslbllltles and Basls of Report As the trustees of the charity (and ts directors for the purposes of company Saw) you are sponSible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 2006 ACV). Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in rèspect of my examination of the Charit5 accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Acf). In carrying out my examination I have followed the Dlrections given by the Charity Commission under sectlon 145(5){b) of the 2011 Act. Independent Examlnerfs Statem•nt I have completed my examination. I conflrm that no matters have come to my attention In connection with the examination giving me cause to believe: accountlng rerdS were not kept in respect of th8 charity as required by section 386 of the 2006 Act: or the accounts do not accord wlth those records: or the accounts do not comply with the accounting requirements of section 396 of th8 2006 Act other than any requirement that the accounts give a 'true and fairf vlew whlch Is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their aGGounls in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters 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 ached. This report is made solely to the charitys trustees, as a body. in aGcordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitrfs trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent pèrmitted by law. I do not accept or assume responsibility to anyone other than the charty and the charity's trustees as a body. for my work or for this report. Slgned.. Sarah Johnson pE Dated: loL* ACA Gibson Apploby Chartered Accountants Page 8
TIBET WATCH (A Company Llmlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrictèd funds 2024 Réstrfcted funds 2024 Total funds 2024 Total fvnds 2023 Note Income from: Donations and legacies Investments 70.255 51,990 122.245 118.614 115 2.402 other income 6.579 6.579 Total Income 76,839 51,990 128,829 121.131 Expendlture on: Raising funds Charitable activities 1.288 60.128 1,288 123.147 15.561 159.962 63,019 Total expenditure 61,416 63,019 124.435 175.523 Not movement in funds 15,423 111,029) 4.394 (54,392) Reconclllatlon of funds: Total funds brought fop4vard 96,198 32,633 128,831 183.223 Total lunds carrled fomard 21.604 133.225 128,831 The Statement of Flnanclal Activltles Includes all galns and losses recognised in the year. The notes on pages 11 to 22 form part of these financlal ststements. Page 9
TIBET WATCH (A Company Llmlted by Guarantee) REGISTERED NUMBER: 05692043 BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Note Current assets Debtors Investments Cash at bank and in hand 15 16 45 49,626 86.455 49.683 89.117 136.126 138.800 Creditors: amounts falling due within one year 17 {2,901) (9.969) Net eurrent amets 133.225 128,831 Total not ass•ts 133,225 128,831 Charlty funds Restricted funds Unrestricted funds 18 18 21.604 32,633 96, 198 Total funds 133,225 128.831 The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members hav8 not required the company to obtain an audit for the year In question In accordance with section 476 of Companies Act 2006. The trustees acknowledge their responsibilities for complsfjng vrfith the requirements of the Act with respect to accounting records and preparation of financial statements. The finanGial statements have been preparad in a¢cordanc8 Vlith the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the trustees and signed on their behalf by: Ipgrave Chair Date. l L '202F The notes on pages 11 to 22 form part of these financlal statements. Page 10
TIBET WATCH (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Inforniatlon Tibet Watch is a company limited by guarantee in England and Wales. The members of the company are the Trustees as named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. Accounllng pollclas 2.1 Basls of prnparallon of financlal stal•monts The financlal statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Stalement of Recommended Practice applicabl8 to charities preparing thelr accounts in accordance wlth the Finariclal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019). the Financial ReFQrting Standard applicable In the UK and Republlc of Ireland (FRS 102) and the Companies Ad 2006. The presentalon ujrrency is in Sterllng and the accounts are rounded to the nearest pound. Tibet Watch meets the definition of a public benefit entty under FRS 102. Assels and liabilities are initially recognised at historical cost or transaction value unless othep4vise stated in the relevant accounting pollcy. The accounts are pr8par8d in sterling and rounded to the nearest pound. 2.2 Income All income is recognised once the charity has entitlement to the incom8, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are induded in the Statement of Financial Activities on a re1vable basis. The balance of income received for specific purposas but not expended during the period is shown in the relevant funds on the Balance Sh88t. Where income is received in advance of entitlement of receipt. its recognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Income tsx recoverable in relation to donations received under Gift Aid or deeds of covenant Is recognised at the time of the donation. Income tax recoverable In relatlon to Investment income Is recognised at the time the investmenl incom8 is receivable. Other income is recognised in the period in which it is r8C8ivable and to the extent the goods have b88n provided or on completion of the service. Page11
TIBET WATCH (A Company Llmltsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (contlnued) 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Governance costs are those incurred in connedlon with administration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurr8d in attractlng voluntary income, and those Incurred In trading activities that raise funds. Charrtable actlvities and Governance costs are costs incurred on the companls operations. includlng support costs and costs relatlng to governance of the company apportioned to charitable actlvltles. The charlty Is not registered for VAT. Accordingly. where applicable. all expenditure is inclusive of VAT. 2.4 Interest recefvable Interest on funds held on deposit is included when r8c8ivable and the amount can be measured reliably by the Gharity; this is normally upon notification of the interest paid or payable by the institution with whom the funds ar8 deposited. 2.5 Flxod assets Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefrts are probable and the cost or value of the asset can b& measured reliably. The chaiity does not currently hold any fixed assets. 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-tem hlghly liquid investments wlth a short maturlty of three months or less from the date of acquisition or opening of the deposit or slmllar account. Page 12
TIBET WATCH IA Company Llmltod by Guarantae) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos {contlnued) 2.8 Llabllltles and provlslons Liabilities are recognised when thère is an obligation at the Balance Sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement Gan be estimated reliably. Llabllltles are recognlsed at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estlmate of the amounts required to settle the obligation. Where the effect of the tlme value of money Is materlal, the provlsion is based on the pr8s8nt value of those amounts, discounted at the pre-tax dlscount rate that reflects the risks specific to the liability. The unwinding of the dlscount is recognlsed In the Statement of Flnancial Activities as a finance cost. 2.9 Flnanclal In$tfum•nts The charity only has financial assets and flnanclal liabllltles of a klnd that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the expIlOn of bank loans which are subsequently measured at amortised cost using the effedivé inter8St method. 2.10 nSIOnS The charity operates a defined contribution pension sGheme and th8 pension charge represents the amounts payable by the charity to the fund in respect of the year. 2.11 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used In accordance with specific restrictions imposed by donors or which have been raised by the charity for partlcular purposes. The costs of raising and administering such funds are charged against the specltlc fund. The alm and use of each restricted fund is set out in the notes to the financial statements. Pag8 13
TIBET WATCH (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and logacl•s Unrostrlctod Re51rlcted funds funds 2024 2024 Total funds 2024 Donations 62,555 7,700 62,555 59.690 Grants 51,990 70,255 51,990 122,245 Unrestricted fvnds 2023 RestriGted funds 2023 Total funds 2023 Donations Grants 42,159 42,159 76,331 124 76,331 In Memory 124 42,283 76,331 118,614 Grants above are net of unspent restrlcted grants retumed in the year totslling £2447 {2023: £NIL). Donatlons & legaclos 2024 2023 CAF & others Regular giving Donations in kind Tibet Match (excluding gifts & grants) General donations 1,386 1,245 21.077 38,820 27 1,517 1. 129 8.410 30.981 122 62,555 42.159 Donations in kind represent the c05t of stsff time and related overheads donated by Free Tibet Campaign, a company limited by guarantee. The value of stsff time and overheads has been calculated and r8fl8ct8d both as donations in kind and direct charitable expenditure (see note 20). Page 14
TIBEf WATCH (A Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Grants from tfusts & foundallom 2024 2023 iGarape Inc. The Samuel Storey Charitable Trust National Endowment for Democracy (NED) 7.200 500 51.990 76,331 76.331 Inv•stment Income Unrestrfcted funds 2024 Total funds 2024 Total funds 2023 Bank inter8St receivable 115 Oth•r Incomlng r•8ourc•8 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 GiftAID 6.579 6.579 2.402 Page 15
TIBET WATCH (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expondlture on ralslng funds Costs of ralslng voluntary Income Unrestrictsd funds 2024 Total funds 2024 Total funds 2023 Tibet Match processing fees Other processing fees and costs In Memory costs Fundralslng salary (inc. Nl) Fundraising salary penslon costs 547 741 547 741 529 632 133 13.983 284 1,288 1.288 15,561 Analysls of expendlturn on charltable actlvltl•s Summary by fund typ• Unrestricted Restricted funds funds 2024 2024 Total 2024 Human Rights Monitorlng. Research & Advocacy 60.128 63,019 123.147 Unrestricted funds 2023 Restricted fvnds 2023 Tot81 2023 Human Rlghts Monitoring, Research & Advocacy 91,782 68.180 159.962 Page 16
TIBET WATCH (A Company Limited by Guarant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysls of •xp•ndlture by actlvltlos Activities undertakon directly 2024 Support costs 2024 Total funds 2024 Human Rights Monitoring. Research & Advocacy 119.209 3.938 123.147 Activities undertaken directly 2023 Support costs 2023 Total fvnds 2023 Human Rlghts Monitoring, Research & Advocacy 136,001 23,961 159,962 Analysls of dlrect Costs Human Rlghts Monltorlng, Research & Advocacy 2024 Total funds 2024 Total funds 2023 Wages and subcontractors SubGontractor fees Outreach and engagement Dharasala expenses Consultant researcher Spac8 and utilities Travel costs Donated sepilces other direct costs 21.207 5.300 307 29.168 32,438 5,419 1,045 21,077 3,248 21,207 5,300 307 29,168 32.438 5.419 1.045 21,077 3.248 58.555 388 25.881 27.657 4.010 7.643 8,410 3.457 119,209 119.209 136,001 Page 17
TIBET WATCH (A Company Llmltod by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysls of eXndItUrn by actlvltles (conllnued) Analysis of support costs Human Rlghts Monltorlng. Research & Advocacy 2024 Total funds 2024 Tot81 funds 2023 staff costs Travel & subslstence Offic8 costs 9,243 1.898 739 6.505 3.492 532 1,552 1,190 174 1,190 174 Security consultancy other consultancy fees Training & development Govemance costs 1.026 1.026 1,548 1,548 3,938 3.938 23,961 Support costs are deemed to relate solely to Human Rights Monitorlng. Research and Advocacy actlvltles. Page 18
TIBET WATCH (A Company LSmlt•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Indondent oxamlnorfs remunoratlon 2024 2023 Fees payable to the charitys independent examiner for the independent examination of the charitls annual accounts 1.500 1,5(A) 12. Staff costs 2024 2023 Wages and salaries Contribution to defined contribution pension scheme5 20.197 1.010 78,512 3,553 21,207 82,065 The average number of p8rsons employed by the charity during the year was as follows: 2024 2023 No. Part-tlme employees Key management personnel salary £19,054 (2023: £12,309). No employee received remuneratlon amounting lo more than £60,000 in either year. In addition to directly contracted employees. Tibet Watch relies on staff time donated by Free Tibet Campaign (see note 20). 13. Trustees. remuneratlon and expenses During the year. no trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no trustee expenses have been incurred (2023 - £NIL). 14. Taxatlon Tibet Watch is a registered charlty and Is potentlally exempt from taxation in respect of income and capltal gains received wlthln the categorles covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the 8xtont that such Income or gains are applled exclusively to charitabl8 purposes. Page 19
TIBET WATCH (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Debtors 2024 2023 Due wlthin one year Other debtors 16. Current asset Inveslmonts 2024 2023 Treasury Gilts 49.626 49,683 17. Credltors: Amounts falllng due wlthln one year 2024 2023 Other credltors Accruals and deferred Income 1.401 1,500 8.469 1,500 2,901 9.969 Pag8 20
TIBET WATCH {A Company Limlted by Guarantée) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Stat•ment of funds Slatament of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrnstrlcted funds General Fund 96.198 76.839 (61 A16) 111,621 Restrlcted funds NED Grant Income Fund 32,633 51.990 (63,019 21,604 Tolal of funds 128,831 128,829 (124,435) 133.225 The NED Grant Income Fund is to cover specific payroll and other direct costs in the year as per the grant agreem8nt. Statement of fvnds - prlor y•ar Balance at 31 March 2023 Balance at 1 Apnl 2022 InGome Expenditur8 Unr•strl¢t•d funds General Fund 158.741 44.800 (107.343) 96.198 Rostrlctsd funds NED Grant Income Fund 24.482 76,331 (68.180) 32,633 Total of funds 183,223 121. 131 (175,523) 128,831 Page 21
TIBET WATCH {A Company Llmlted by Guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Analysls of not assets betweon funds Analysls of n•t assets tween funds - current porlod Unrestrlctod Restrlcted funds funds 2024 2024 Totsl funds 2024 Current assets Creditors due within one year 114.522 {2.901) 21.604 136.126 (2.901) Total 111.621 21,604 133.225 Analy818 of not •s$ots tWeen fund8 - prlor perlod Unrestricted funds 2023 Restrlcted funds 2023 Total funds 2023 Current assets Credltors due within on8 year 106, 167 (9,969) 32.633 138,800 (9.969) Tolal 96,198 32.633 128,831 20. Related party Iransactlons Tvrfo of the Trustees of Tibet Watch are also directors of Free Tibet Campaign. During the year Free Tibet Campaign charged Tibet Watch £7.497 (2023: £9.374) for net related overheads. At the year end Tibet Watch was owed by Free Tibet Campaign £45 (2023: Owed to Free Tib8t £5.963). Free Tibet Campaign also provide adminstrative and management stsff time as a donation to Tibet Watch. the value of staff time and overheads has been calculated and reflected in these financial statements as donations in kind and direct charitable expenditure as indicated below. 2024 2023 staff costs Related overheads 14,106 6,971 4,167 4.243 21,077 8.410 Page 22