2022-03-31-accounts

Trustees’ Annual Report for the period

From 1[st] April 2021 To 31[st] Match 2022

Charity name: Rigul Trust

Charity registration number: 1124075

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The relief of poverty and financial hardship, the advancement of education, the advancement of religion and the relief of sickness and the preservation and protection of good health, in particular, but not exclusively, in Rigul, Kham, Tibet, as the trustees may decide.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	A total amount of £44,840.00 was sent to Rigul, consistently with our target amount: it covers the annual running costs for all the projects the Trust is committed to funding in Rigul. In addition, £3,528.98 was sent from restricted funds to the restricted fund projects the funds were previously raised for.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have shown regards to the charity commission guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38	Volunteers, fundraisers and donors continue to support the work of the Rigul Trust and the Trustees would like to thank

them. Without their generosity none of our endeavours would be possible. The Trust pledges that 100% of donations received goes to the people in Rigul. All administration and promotional costs are met by a separate fund contributed to by volunteers and the operation of the Trust is carried out on a purely voluntary basis with no salary taken. Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The Trust is making a difference in particularly in the Rigul area, providing support to the local school, the health clinic and the shedra (monastic education programme), which are freely open to all residents in Rigul. This enables the population of Rigul to access education and health care in this remote region which otherwise would not have immediate and local access to these services.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	The Trust is also committed to find use of the restricted funds that were raised in the past. Four of the five restricted fund projects held at the start of the year were cleared, leaving only the Sikkim Earthquake Project remaining. The funds held for this project however are substantial (£10,410) and have been held for a long time and should be distributed as soon as possible: Trustees are actively seeking how to use the remaining restricted funds.
Performance of fundraising activities against objectives set	Para 1.41	The donations have increased almost three times this year and comfortably cover the annual target, mainly because of one generous donor.

Investment performance against objectives	Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Funds held at the end of the year were sufficient to fund Rigul at the current funding level for approximately 3 years 9 months.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	In this financial year, all reserves are held in bank and saving accounts.
Amount of reserves held	Para 1.22	£172,498.95, excluding the restricted funds for Sikkim (£10,410).
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	The majority of funds come from voluntary donations from students of our Patron.
Investment policy and objectives including any social investment policy adopted	Para 1.46	In this financial year, all reserves are held in bank and saving accounts. However, the Trustees have decided that is appropriate to put in place a new ten year investment plan: this will be implemented in the new financial year, when also a new investment policy will be issued.
A description of the principal risks facing the charity	Para 1.46	In this financial year, the majority of the funds came from one single generous donor. The trustees acknowledge that the Trust should not rely on one single donor in the medium term.
Other		The Trust has been victim of 3 episodes of attempted fraud by false direct debit set up. The bank has immediately returned the funds in line with the direct debit protection and suggested no further actions. However, the Trustees have prudently reported the attempted fraud to the police and are taking some actions to minimise the likelihood of new attempts.

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Trust Deed
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Charitable Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The Trustees elect incoming Trustees with input and feedback from the Patron and the Founders, through a process of consultation and according to the skills deemed necessary.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	The Trust would continue to induct new Trustees with a combination of team meetings, one-to-one meetings with the current Trustees. A new Trustee would also be supplied with the necessary Charity Commission documents for guidance, the Rigul Trust governing document as well as access into the systems employed by the Trust.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Patron and the Founders continue to act as advisors providing experience and continuity to the trustees. The Trust has representatives in Rigul, Kham, China, who oversee the projects funded by the Trust.
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Rigul Trust
Other name the charity uses
Registered charity number	1124076
Charity’s principal address	11 Crofts Street London E1 8LU

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Sarah Loise Delfont	Chair	Resigned on 04/12/2021	Board of Trustees
	Jeff Wilshaw	Treasurer
	Michele Sisto	Chair after Ms Delfont resignation
	AndyLowe	Trustee	Appointed 04/12/2021

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date

CHARITY COMMISSION FOR ENGLANO AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustee members of RIGUL TRUST On accounts for the yur ended 31- MARCH 2022 Charity no (rfany) 1124076 Set out on pages I report to the trustees on my examination of the accounts of the above tharity (Ihe TNsn for the year ended 3110312022. Responsibilities and basis of report As the charitys trustees, you are respon&ble for the preparation of the accounts in accordan￿ with the requirements of the Charities Ad 2011 rthe Acf). I report in respect of my examination of the Trusvs acwunts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Direth'ons given by the Charity Commission urKler section 145(5)(b) of the Act Indepandent I have completed my examination. I confinn that no material matters have •xamln•rfs Statement come to my attention in Connection vlith the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance wtth section 130 of the Chanties Act,. or the accounts not accord with the accounting records, or the accounts did not comply with the applicable requirements con￿mIng the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulats'ons 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter consMJered as part of an independent examination. I have no rnncems and have come aGn)ss no other matters in connection with the examination to which attenti1￿ should be drawn in this report in order to enable a proper undet5tanding of the accounts to be reached. Slgned: Dat•: 2010612022 Name: ABIGAIL LANGRIDGE Relevant proknsional qualificationls) or body (rf any): Address: 25 BONNET LANE BURGESS HILL inEST SUSSEX, RH15 OFP