2023-03-31-accounts

Trustees’ Annual Report for the period

From Period start date 1[St] April 2022 To 31[st] March 2023 Period end date

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 £49,080.70 was sent to Rigul, as per target amount for the year, to cover the annual running costs for all the activities the Trust is committed to funding in Rigul.
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)

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SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment

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.

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Achievements against objectives set	Para 1.41	The Trust is also committed to allocating restricted funds that were raised in the past for specific causes and only the Sikkim Earthquake Fund remains. The fund held for this project is substantial (£10,410) and has been held for a long time and needs to be distributed as soon as possible: Trustees are actively seeking a project which is aligned to the cause for which the fund was raised.

	Performance of fundraising activities against objectives set Para 1.41 The donations have continued to increase 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 just over two years.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Reserves were held in bank and saving accounts and in a new investment fund established in the year. It is the Trust’s policy to maintain at least one year’s worth of funding as part of its reserves policy which can be accessed immediately in case of unforeseen needs or emergencies. Remaining reserves are gradually being invested in a newly established investment fund to provide a legacy for supporting the people of Rigul into the future.
Amount of reserves held	Para 1.22	The total amount of reserves held at end of year including the investment fund was £217,663. This excludes the remaining restricted fund which has been ring fenced.
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

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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 the previous financial year, all reserves were held in bank and saving accounts. However, the Trustees decided that it is to establish a ten-year investment plan to provide a legacy to support the people of Rigul on the longer term.safeguard the people of Rigul into the future. This plan was implemented in this financial year following the establishment of an investment policy.

	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

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.

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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	None

	Registered charity number Charity’s principal address 11 Crofts Street London E1 8LU

Names of the charity trustees who manage the charity

	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Dr Andy Lowe	Chair	1/10/22-current
	Jeffery James Wilshaw	Treasurer
	Francois Henrard		27/07/22-current

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 rf not forwhole year

Funds held as custodian trustees on behalf of others

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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
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Additional information (optional)

Names and addresses of advisers (Optional information)

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Type of Name Address
adviser
IFA Philip Pearson P&P Invest Ltd
Independent Financial Advisers
Units 17/18, Building 2
Shamrock Quay
William Street
Southampton
SO14 5QL
Chief execuLves of P&P Invest ltd
Directors: P.S.Pearson FPFS, ACII K.B.PaQnson CertPFS
P&P Invest Ltd is authorised and regulated by the Financial Conduct Authority
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P&P Invest Ltd Independent Financial Advisers Units 17/18, Building 2 Shamrock Quay William Street Southampton SO14 5QL Tel: [phone] Fax: [phone] E-mail: [e-mail] web: www.pandpinvest.com Directors: P.S.Pearson FPFS, ACII K.B.PaQnson CertPFS P&P Invest Ltd is authorised and regulated by the Financial Conduct Authority.

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) Jeffrey James Wilshaw Position (eg Treasurer Secretary, Chair, etc)

Date 9th July 2023

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl membors of RIGUL TRUST On accounts for the year ended 31- MARCH 2023 Charity no (If any) 1124076 Set out on pages I report to the trustees on my examination of the accounts of the above chanty (Ihe TNsf) for the year erKled 3110312023. Responslbilftles and basis of ￿pOrt As the diantys tnJstee$. you are responsible for the preparation of the accounts in accordance wtth the requirements of the Charities Act 2011 (Ihe Act.). I report in respect of my examinats'on of the Trust's accounts carrièd out under section 145 of the 2011 Act and in carying out my examination, I have followed all applicable Directions given by the Charity Commission urKler section 145(5)(b) of the Act Independent I have CoMp￿te￿a my examination. l 0￿fim7 that no material matters have examinerfs Statement come to my attention in Connectic￿ with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordan￿ with section 130 of the Charities Act,. or the accx)unts not accord with the accounting records. or the aco)unts did not comply with the applicable requirements con￿MIng the form aTrJ rJ)ntent of accounts set out in the Charities {A¢counts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue arKI fail view vthich is not a matter conshyered as part of an independent examination. I have no concems and have come across no other matters in connection with the examnatK)n to which attention should be drawn in this report in orderto erHb5e a proper understandlng of the accounts to be reathed. Slgned: Date: 1210712023 Name.. ABIGAIL L4NGRIDGE Relevant professional quallflcation{s) or body lif any): Addr•ss: 25 BONNET IANE BURGESS HILL IINEST SUSSEX, RH15 OFP

	Charity Name	Charity Name	Charity Name	Charity Name	Charity Name	No(if any)	No(if any)		CC16a
	RIGUL TRUST					1124076
	Receipts andpayments accounts
	For the period from		Period start date		To		Period end date
			01/04/2022				31/03/2023
Section A Receipts and payments
	Unrestricted funds		Restricted funds		Endowment funds		Total funds		Last year
	to the nearest £		to the nearest £		to the nearest £		to the nearest £		to the nearest £
A1 Receipts
Voluntaryreceipts	92,365		-		-		92,365		78,431
Fundraisingactivities	5,038		-		-		5,038		6,269
Sales	584		-		-		584		772
Interest	256		-		-		256		13
Gift Aid receipts	140		-		-		140		5,996
	- 0		-		-		-		-
	- 0		-		-		-		-
	- 0		-		-		-		-
Sub total_(Gross income for AR) _	98,384		-		-		98,384		91,480
A2 Asset and investment sales, (see table).
	- 0		- 0		- 0		-
	- 0		- 0		- 0		-		- 0
Sub total	- 0		- 0		- 0		-		- 0
**Total receipts **	98,384		- 0		- 0		98,384		91,480
A3 Payments
Fund raising costs	- 0		-		-		-		-
Charitable activites costs	49,081		-				49,081		48,369
Governance costs	250		-		-		250		250
Transaction costs	- 0		-		-		-		230
Administration costs	297		-		-		297		168
	- 0		-		-		-		-
	- 0		-		-		-		-
	- 0		-		-		-		-
	- 0		-		-		-		-
**Sub total **	49,628		-		-		49,628		49,017
A4 Asset and investment purchases,(see table)
10 Year Legacy Investment	120,500		- 0		- 0		120,500
	- 0		- 0		- 0		-
**Sub total **	120,500		-0		-0		120,500		- 0
**Totalpayments **	170,128		- 0		- 0		170,128		49,017
**Net of receipts/(payments) **	- 71,745		-		-		- 71,745		42,463
A5 Transfers between funds	- 0		-		-		-		-
A6 Cash funds lastyear end	172,500		10,410		-		182,909		160,326
**Cash funds thisyear end **	100,755		10,410		-		111,165		202,789
Section B Statement of assets and liabilities at the end of the period
Categories	Details				Unrestricted funds		Restricted funds		Endowment funds
					to nearest £		to nearest £		to nearest £
B1 Cash funds					100,755		10,410		-
					-		-		-
					-		-		-

CCXX R1 accounts (SS)

15/04/2022

1

	Total cash funds	Total cash funds	Total cash funds		100,755		10,410	10,410	-
	(agree balances with receipts and payments account(s))				OK				OK
					Unrestricted funds		Restricted funds		Endowment funds
	Details				to nearest £		to nearest £		to nearest £
B2 Other monetary assets					-		-		-
					-		-		-
					-		-		-
					-		-		-
					-		-		-
					-		-		-
	Details				Fund to which asset belongs		Cost (optional)		Current value (optional)
B3 Investment assets							-		-
							-		-
							-		-
							-		-
							-		-
	Details				Fund to which asset belongs		Cost (optional)		Current value (optional)
B4 Assets retained for the charity’s own use							-		-
							-		-
							-		-
							-		-
							-		-
							-		-
							-		-
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	Details				Fund to which liability relates		Amount due (optional)		When due (optional)
B5 Liabilities							-
							-
							-
							-
							-
Signed by one or two trustees on behalf of all the trustees	Signature				Print Name				Date of approval
					Dr Andy Lowe				11th Dec 2023

CCXX R2 accounts (SS)

15/04/2022

2