## **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)** You may choose to include further statements where relevant about: 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.| ## **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 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|| ## **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 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.| ## **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|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** **----- Start of picture text -----**
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
**----- End of picture text -----**
## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **----- Start of picture text -----**
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
**----- End of picture text -----**
_P&P Invest Ltd Independent Financial Advisers Units 17/18, Building 2 Shamrock Quay William Street Southampton SO14 5QL Tel: 023 8022 6640 Fax: 023 8022 6641 E-mail: advice@pandpinvest.com 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**|||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||**-**||**-**| ||||||||||| ||**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