Registered number: 05692043 Charity number: 1114404
TIBET WATCH
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
TIBET WATCH
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 21 |
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | D Russell |
|---|---|
| M Gruninger, Treasurer | |
| J Hipgrave, Chair | |
| Dr N Kaul | |
| Company registered | |
| number | 05692043 |
| Charity registered | |
| number | 1114404 |
| Registered office | ER82 |
| The Link | |
| 49 Effra Road | |
| SW2 1BZ | |
| Head of Policy & | J Jones |
| Research | |
| Accountants | TC Group |
| The Courtyard | |
| Shoreham Road | |
| Upper Beeding | |
| Steyning | |
| West Sussex | |
| BN44 3TN | |
| Bankers | The Co-operative Bank Plc |
| PO Box 250 | |
| Skelmersdale | |
| WN8 6WT | |
| Solicitors | Bates Wells & Braithwaite |
| 2-6 Cannon Street | |
| London | |
| EC4M 6YH |
Page 1
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the charity for the period from 1 April 2024 to 31 March 2025. The Annual Report serves 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 company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 is not required.
Objectives and strategies
a. Summary of Activities Undertaken for the Public Benefit
Tibet Watch works to promote the human rights of the Tibetan people through monitoring, research and advocacy. Its outputs are used by researchers, journalists and policymakers to better understand human rights, environmental and political developments in Tibet.
b. Human Rights Monitoring
Tibet Watch documents and exposes ongoing human rights abuses in Tibet using a wide range of sources. Our researchers collect information from a network of individuals inside Tibet, carry out interviews with newly arrived Tibetan refugees, monitor Chinese government websites and state media, track changes in law and policy, and review Tibetan-, Chinese- and English-language sources. Accuracy remains central to our work, and all information disseminated is verified and corroborated before publication or sharing with partners.
In addition to our own advocacy, this information is used by governments, UN bodies, NGOs, campaigning groups and international media. The archive on our website (tibetwatch.org) reflects the breadth of stories published during the year and their international reach.
c. Research
Alongside incident monitoring, Tibet Watch undertakes in-depth thematic research and analysis to identify wider trends affecting Tibetans. During the year, research focused in particular on hydropower and megadevelopment projects, environmental risk, digital surveillance, restrictions on Tibetan-language education, and the impacts of forced relocation.
The research team uses Chinese, Tibetan, English and occasionally Hindi to analyse government and regional sources, social media and procurement documents, and also employs open-source techniques such as satellite imagery analysis. This work enables Tibet Watch to explain the structural drivers behind human rights abuses, not only individual incidents.
Page 2
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Objectives and strategies (continued)
d. Advocacy
Tibet Watch undertakes regular advocacy with the UK government and engages with other national governments, parliaments and international institutions when opportunities arise. We continue to engage closely with UN human rights mechanisms, including Special Procedures and the Universal Periodic Review, providing evidence-based submissions and briefings.
e. Public Benefit
The Trustees confirm that they have considered the Charity Commission’s guidance on public benefit in setting the charity’s objectives. They consider that the activities carried out during the year, summarised below, clearly further those objectives and provide public benefit.
f. Other
Nothing to report.
Achievements and performance
a. Human Rights Monitoring
Throughout 2024/25, Tibet Watch continued to provide timely, verified information to Free Tibet and other partners through its monitoring and field research. Key areas of work included:
Megadevelopment and hydropower projects: Following the mass protests in Dege County in February 2024, Tibet Watch continued to document arrests, beatings and forced relocations linked to hydropower construction. This work culminated in major research outputs on dam-building in Tibet and supported sustained advocacy with governments, UN experts and investors.
Human rights defenders and political prisoners: Tibet Watch provided timely updates on a range of detention cases, including environmental whistleblowers, language advocates and protesters. Information obtained on the detention and release of activists, as well as continued monitoring of high-profile political prisoners, enabled rapid response advocacy by the wider Tibet movement.
Education and language repression: Monitoring confirmed a continuing pattern of closures of Tibetan private and monastic schools, expansion of colonial-style boarding schools, and restrictions on the use of Tibetan language. These findings fed into ongoing thematic research on language rights.
Page 3
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
b. Research
Major reports: During the year, Tibet Watch released or contributed to several significant research outputs, including Occupying Tibet’s Rivers, Weaponising Big Data: Decoding China’s Digital Surveillance in Tibet, and subsequent briefings on the risks of large-scale dam construction on rivers including the Machu (Yellow) River. These reports combined field testimony, technical analysis and policy recommendations and received significant media and policymaker attention. Weaponizing Big Data in particular led to interest from high levels in policy spheres, and numerous citations in articles by mainstream media and China watchers.
Refugee interviews and field research: The field team continued to conduct interviews with newly arrived Tibetan refugees in India and Nepal, gathering detailed testimony on surveillance, education, religious repression and environmental impacts. In late 2024 and early 2025, field researchers travelled to southern India to expand information networks in monasteries and settlements, strengthening long-term monitoring capacity.
Environmental and crisis research: Tibet Watch worked collaboratively with partner organisations to monitor and analyse developments following the Shigatse earthquake in January 2025, helping to counter misinformation and document risks to communities amid limited transparency.
c. Advocacy
Advocacy during the year was carried out at parliamentary and international levels. Tibet Watch staff and trustees briefed MPs, peers and officials in the UK, contributed to the UK government’s audit of relations with China (now published although in redacted form), and directly addressed parliamentary bodies including the House of Lords, the Canadian Parliament and the French Senate.
At the UN, Tibet Watch research contributed directly to joint communications by Special Procedures mandate holders to the Chinese government, particularly on hydropower projects and school closures. These interventions marked a significant increase in international scrutiny of Tibet-related policies.
d. Public Outreach
Tibet Watch continued to expand its public profile and media engagement. Staff members provided analysis and interviews to major outlets including the BBC, World Service, ITV and international print media. Research and testimony provided by Tibet Watch informed the ITV/PBS documentary “Inside China: The Battle for Tibet,” broadcast in February 2025, the first major English-language documentary on Tibet for some years.
Research findings were also translated into accessible formats including infographics, short videos and social media content, extending reach to new audiences.
Financial review
a. Reserves policy
The trustees hold reserves to prudently manage the charity’s finances and support its future development. The agreed operational reserve was maintained throughout 2024/25.
b. Investment Policy
The trustees continue to invest a portion of net reserves in short-dated UK government bonds to minimise risk. Remaining funds are held on deposit with UK banks.
Page 4
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
a. Constitution
Tibet Watch is a company limited by guarantee with no share capital, governed by its Memorandum and Articles of Association dated 30 January 2006. It is a registered charity with the Charity Commission (charity number 1114404).
b. Trustee Selection
Tibet Watch is governed by a Board of Trustees whose members are elected as the need arises. Trustees are drawn from individuals with substantial experience of Tibet-related work or relevant professional expertise.
c. Induction and Training of Trustees
New trustees receive the governing documents, current strategy, recent reports and a personal briefing from the Head of Research & Advocacy of Tibet Watch and Chair of the Board of Trustees.
d. Organisational Structure
The Board of Trustees administers the charity and meets at least bi-annually. Responsibility for the day-to-day management of the charity has been delegated to the Head of Research & Advocacy, appointed by the trustees. The Head of Research & Advocacy has delegated authority, within terms approved by the trustee, for all operational matters, including finance.
e. Related Party Relationships
Tibet Watch maintains a close working relationship with Free Tibet, which uses Tibet Watch’s evidence and analysis to inform campaigning, media work and advocacy.
f. Risk management
The trustees maintain oversight of operational, financial and reputational risks. In preparing this report, the trustees have taken advantage of the small companies exemptions under section 415A of the Companies Act 2006.
Page 5
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Statement of trustees' responsibilities
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies 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 whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern 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 charity's transactions and disclose with reasonable accuracy at any time the financial 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 board of trustees and signed on their behalf by:
................................................ J Hipgrave Chair Date: 23 December 2025
Page 6
TIBET WATCH (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
Independent Examiner's Report to the Trustees of Tibet Watch ('the charity')
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025.
Responsibilities and Basis of Report
As the trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns 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 reached.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated: 23 December 2025 Sarah Johnson ACA
TC Group
Business Advisors and Accountants
Page 7
TIBET WATCH
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies 3 Investments 6 Other income 7 Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2025 £ 64,381 35 6,769 71,185 8,383 56,934 65,317 5,868 111,621 117,489 |
Restricted funds 2025 £ 110,709 - - 110,709 - 113,411 113,411 (2,702) 21,604 109, 18,902 |
Total funds Total funds 2025 2024 £ £ 175,090 122,245 35 5 6,769 6,579 181,894 128,829 8,383 1,288 170,345 123,147 178,728 124,435 3,166 4,394 133,225 128,831 136,391 133,225 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 22 form part of these financial statements.
Page 8
TIBET WATCH (A Company Limited by Guarantee) REGISTERED NUMBER: 05692043
BALANCE SHEET AS AT 31 MARCH 2025
| Note Current assets Debtors 15 Investments 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total net assets Charity funds Restricted funds 18 Unrestricted funds 18 Total funds |
35,016 49,568 60,017 144,601 (8,210) |
2025 £ 136,391 136,391 18,902 117,489 136,391 |
45 49,626 86,455 136,126 (2,901) |
2024 £ 133,225 |
|---|---|---|---|---|
| 133,225 | ||||
| 21,604 111,621 |
||||
| 133,225 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have 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 complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with 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:
==> picture [100 x 36] intentionally omitted <==
................................................ J Hipgrave Chair Date: 23 December 2025
The notes on pages 11 to 22 form part of these financial statements.
Page 9
TIBET WATCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. General information
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.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The presentation currency is in Sterling and the accounts are rounded to the nearest pound.
Tibet Watch meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The accounts are prepared in sterling and rounded to the nearest pound.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included 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 tax 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 relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 10
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.3 Expenditure
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 connection with administration of the company and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the company's operations. including support costs and costs relating to governance of the company apportioned to charitable activities.
The charity is not registered for VAT. Accordingly, where applicable, all expenditure is inclusive of VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Fixed assets
Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
The charity does not currently hold any fixed assets.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount 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-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.
Page 11
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there 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 can be estimated reliably.
Liabilities are recognised 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 estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
2.11 Fund accounting
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 particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 12
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. Income from donations and legacies
| Donations Grants Donations Grants |
Unrestricted funds 2025 £ 63,381 1,000 64,381 Unrestricted funds 2024 £ 62,555 7,700 70,255 |
Restricted funds 2025 £ - 110,709 110,709 Restricted funds 2024 £ - 51,990 51,990 |
Total funds 2025 £ 63,381 111,709 |
|---|---|---|---|
| 175,090 | |||
| Total funds 2024 £ 62,555 59,690 |
|||
| 122,245 |
Grants above are net of unspent restricted grants returned in the year totaling £NIL (2024: £2,447).
4. Donations & legacies
| CAF & others Regular giving Donations in kind Tibet Match (excluding gifts & grants) General donations |
2025 £ 1,779 833 19,428 41,341 - 63,381 |
2024 £ 1,386 1,245 21,077 38,820 27 62,555 |
|---|---|---|
Donations in kind represent the cost of staff time and related overheads donated by Free Tibet Campaign, a company limited by guarantee. The value of staff time and overheads has been calculated and reflected both as donations in kind and direct charitable expenditure (see note 20).
Page 13
TIBET WATCH
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. Grants from trusts & foundations
| iGarape Inc. The Samuel Storey Charitable Trust National Endowment for Democracy (NED) International Programme Project (FCDO) The Paget Trust |
2025 £ - - 52,747 57,962 1,000 111,709 |
2024 £ 7,200 500 51,990 - - |
|---|---|---|
| 76,331 |
| 6. Investment income Bank interest receivable 7. Other incoming resources Gift AID |
Unrestricted funds 2024 £ 35 Unrestricted funds 2024 £ 6,769 |
Total funds 2025 £ Total funds 2024 £ 35 5 Total funds 2025 £ Total funds 2024 £ 6,769 6,579 |
|---|---|---|
Page 14
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Expenditure on raising funds
Costs of raising voluntary income
| Tibet Match processing fees Fundraising salary Other processing fees and costs |
Unrestricted funds 2025 £ 1,052 6,670 661 8,383 |
Total funds 2025 £ 1,052 6,670 661 8,383 |
Total funds 2024 £ 547 - 741 |
|---|---|---|---|
| 1,288 |
9. Analysis of expenditure on charitable activities
Summary by fund type
| Human Rights Monitoring, Research & Advocacy Human Rights Monitoring, Research & Advocacy |
Unrestricted funds 2025 £ 56,934 Unrestricted funds 2024 £ 60,128 |
Restricted funds 2025 £ 113,411 Restricted funds 2024 £ 63,019 |
Total 2025 £ 170,345 |
|---|---|---|---|
| Total 2024 £ 123,147 |
Page 15
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. Analysis of expenditure by activities
| Human Rights Monitoring, Research & Advocacy Human Rights Monitoring, Research & Advocacy |
Activities undertaken directly 2025 £ 170,449 Activities undertaken directly 2024 £ 119,209 |
Support costs 2025 £ 6,566 Support costs 2024 £ 3,938 |
Total funds 2025 £ 177,015 |
|---|---|---|---|
| Total Funds 2024 £ 123,147 |
Analysis of direct costs
| Wages and subcontractors Subcontractor fees Outreach and engagement Dharamsala expenses Consultant researcher Space and utilities Travel costs Donated services Other direct costs |
Human Rights Monitoring, Research & Advocacy 2025 £ 31,394 - 263 14,833 31,861 3,503 1,653 19,428 67,514 170,449 |
Total funds 2025 £ 31,394 - 263 14,833 31,861 3,503 1,653 19,428 67,514 170,449 |
Total funds 2024 £ 21,207 5,300 307 29,168 32,438 5,419 1,045 21,077 3,248 |
|---|---|---|---|
| 119,209 |
Page 16
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Travel & subsistence Office costs Other consultancy fees Training & development Governance costs |
Human Rights Monitoring, Research & Advocacy 2025 £ 940 - 414 3,224 258 1,730 6,566 |
Total funds 2025 £ 940 - 414 3,224 258 1,730 6,566 |
Total funds 2024 £ - 1,190 174 1,026 - 1,548 3,938 |
|---|---|---|---|
Support costs are deemed to relate solely to Human Rights Monitoring, Research and Advocacy activities.
Page 17
TIBET WATCH
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 1,680 | 1,500 |
12. Staff costs
| Wages and salaries Contribution to defined contribution pension schemes |
2025 £ 30,811 583 31,394 |
2024 £ 20,197 1,010 21,207 |
|---|---|---|
The average number of persons employed by the charity during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Part-time employees | 2 | 1 |
Key management personnel salary £21,445 (2024: £19,054).
No employee received remuneration amounting to 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' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2024 - £NIL)
During the year ended 31 March 2025, no trustee expenses have been incurred (2024 - £NIL)
14. Taxation
Tibet Watch is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 18
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
15. Debtors
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Due within one year | ||
| Other debtors | 35,016 | 45 |
16. Current asset investments
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Treasury Gilts | 49,568 | 49,626 |
17. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2025 £ 4,508 2,022 1,680 8,210 |
2024 £ - 1,401 1,500 |
|---|---|---|
| 2,901 |
Page 19
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
18. Statement of funds
Statement of funds - current year
| Unrestricted funds General Fund Restricted funds NED Grant Income Fund Total of funds |
Balance at 1 April 2024 £ 111,621 21,604 133,225 |
Income £ 71,185 110,709 181,894 |
Balance at 31 March Expenditure £ 2025 £ (65,317) 117,489 (113,411) 18,902 (178,728) 136,391 |
|---|---|---|---|
The NED Grant Income Fund is to cover specific payroll and other direct costs in the year as per the grant agreement.
Statement of funds - prior year
| Unrestricted funds General Fund Restricted funds NED Grant Income Fund Total of funds |
Balance at 1 April 2023 £ 96,198 32,633 128,831 |
Income £ 76,839 51,990 128,829 |
Expenditure £ (61,416) (63,019) (124,435) |
Balance at 31 March 2024 £ 111,621 21,604 133,225 |
|---|---|---|---|---|
Page 20
(A Company Limited by Guarantee)
TIBET WATCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2025 | |
| £ | £ | £ | |
| Current assets | 125,879 | 18,722 | 144,601 |
| Creditors due within one year | (8,210) | - | (8,210) |
| Total | 117,669 | 18,722 | 136,391 |
| Analysis of net assets between funds - prior period | |||
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| Current assets | 114,522 | 21,604 | 136,126 |
| Creditors due within one year | (2,901) | - | (2,901) |
| Total | 111,621 | 21,604 | 133,225 |
20. Related party transactions
Two of the Trustees of Tibet Watch are also directors of Free Tibet Campaign. During the year Free Tibet Campaign charged Tibet Watch £10,676 (2024: £7,497) with regards to overheads. At the year end Tibet Watch was owed £25 by Free Tibet Campaign (2024: Owed from Free Tibet £45).
Free Tibet Campaign also provide administrative and management staff 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.
| Staff costs Related overheads |
2025 £ 12,141 7,287 19,428 |
2024 £ 14,106 6,971 21,077 |
|---|---|---|
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