Drukpa Trust
Reg15tered Charity, No: 1178756
Trustees, Annual Report &
Financial Statements
for the Year Ended 31 March 2024
Trustees
Steve Todd
Annie Smith
Jonathan Rose
Di Cook
Wendy Cornwell
Roland Reinardy
Drukpa Trust.. Trustee<AnnuolReMrtX Flnandolstotements
Pogel of 16

Drukpa Trust CIO
Independent Examiner's Report
for the Year Ended 31 March 2024
Drukpa Tn￿. TnJte&Anrwol Rewrt& Fingn¢i015totements
Poge2of 16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 Marth 2024
Contents
Reference and Admlnlstratlon Detslls........................................................ .
Charity Name & Reglstration........................................................... .......
CharWsAddresses...........................................................................................
Names of the Trustees Who Manage the tharfty.............................................
Type ofGovernlng Dotument............................... .. ... ............ .. .
C￿r[table Objects.... .
Trustee Selectlon Methods................................................................... ....... .
Actlvltles............
ststutory Declardtlon...................................
Achlevements & PerfornWn￿ ................. .. . .
Outputs ONI Outcomes for the Charftys Beneficiaries.. ...
How the Public Have Benefftted.................................................. ... .
Contributlng to Actlvltles Run lry Other Or8anlsations.......... .. ..
Trustee DÈveioK*nenL.... . .
4A
Flnandal Revlew...........-...........-..-.-.-.-...-.
Detslls of Any Funds Materialty in Deficlt....................................................... .
Pollcy oft Reserve5.................................... . .
Prfnclpal Sources of Fundlng and Oul8olry.....................................................
Remuneration of Trustees ........................ ..
Financial Status.
ststutory Statements on Llablllties................... .
Statement of Flnanclal AcUvlty....-......-----..
Independent Examinerfs Report on the Accounts..................................... . ...
Statement ol Flnandal ￿tivitIeS for the Year Ended 31 March 2022............ 10
Notes to the Accounts............................. ... .
.12
Dnty T￿￿t.. TfUSte&AnnualRem& finanualstatemerts
Poge 3 0116

Drukpa Trust CIO
Trustees. Annual Report
for the Year Ended 31 March 2024
Reference and Administration Details
1.1 Charlty Name & Reglstratlon
Drukpa Trust
The ¢harlty Is a Charltable Incorporated Organis*ion. ￿gIStratIOn rK>: 1178756. registered with
the Charity Commission on 13 June 201&
Drukpa Trust registration no: 1014948, regtstered on 15 OCto￿r 1992 with the Charity
Commlssion, trdnsferred 5ts affalrs to the ao durlng P12018-19.
The charlty Is reglstered with HM Revenue & Customs.
1.2 Chartys Addresses
Adminlstratlon:
114 Harvist Road, London, NW6 6trU, UK
e-mail: london
drukpa.or&uk
website: w*w.dwls.org
School Project Co￿rdInatIon. Sponsorship and FundraIsi￿.
16A Oakland5 Road. Bromley. KenL BRI 3SL UK
ema51- 1nfo@dwls.org
webslte: vthTh¥.dwls.orB
1.3 Names of the Trustees Who Manage the Charfty
Jonathan Rose
Annie srn￿h
DI Cook
Wendy Corn￿11
Steve Todd
Roland Reinar
Chair untll 02 September 2024, remalns as Trustee
Deputy Chalr
Treasurer
Trustee
Trustee from 02 Marth 2024, Chalr from 02 September 2024
Tnstee from 15 June 2024
The follo￿ne t￿n￿trUstee served as an honorary officer
Rathel Glynn
Secretsry
1.4 Bank
CAF BanL 25 Klngs Hlll Avenue. ￿ngS Hill. West Mall1￿ Kent ME19 4JQ
Drukpo Tntr. Trustee￿An￿￿OIRep0rt& fftonc1alstrten￿nts
Puoe4 of16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2024
Structure, Governance & Management
2.1 Type of Governing Docufflent
Constltutlon- based on the Charlty Commlsslon'5 mcthl go¥trnln8thcurnent for Foundatlon
Charitsble Incorporated Or8anlsatlons, le.. where theTrustees are the onty Members of the
charity.
2.2 Charltable Objects
As deflned In Dwkpa Constltutlon (Go4*rnl￿ Document):
The charfl￿$ objects I"ob]ects"l are:
.'{al to advance publlc educatlon about and through the unlversal phllosophy. trddttlon and
practlce of the Drukpa branch of Himalaydn Buddhism among persons in the United Kingdom
and elsewhere:
Ibl to a&4anee the educatlon of the publi4 prlmarlly chlldren. In Ilteracy. numeracy and other
core subjects of the school currlculum by provkllng fundlng to bulld. resource and malntsln
educatlonal facllltles and to support educatlonal processes In Hlmalayan countrfes and
elsewhere; and
{cl to relleve w¥erty, slckness èNI dlstrw around world by provldlnB flnandal help and
asslstance to those who are d15advantaged and Sn need of such oss15tsno.
2.3 Trustee Selertion Methods
There must be at least three charty tn￿tee& There is no maxlmum number ol chartty trustees
that may be appointed.
In app¢intin8 Trustees due considefatlon15 given to ersurI￿a that the Trustees have. between
them, the skills knowledge arrfl experfence ne¢essary to manage the tharlty effertlvely and In
accordance with charlty law.
Actlvities
3.1 ststutory Declaratlon
The Trustees of Drukpa Trust coTrfimi that they have paid due regard to the guldarKe i55ued bv
the Chartty (￿nMI￿l0n on public berth In decidlng what activltles the charlty should
undertake.
Drukpa Tntst.. Tntstee<Annual Report& ￿nt1n£la15trternents
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Drukpa Trust CIO
Trustees. Annual Report
for the Year Ended 31 March 2024
Achievements & Perforniance
4.1 Outputs and Outcomes for the Charws Beneficiaries
The school In Shey opened In 2Wi with 88 students In nursery and bwer klndergarten. The Total
number of students was 888 in March 202412023.. 8591. There were 440 girls and 448 boys. Of
those, 199 were reglstered to live on the carnpus In purpose-bullt resldences, 114 from remote
valleys and nomad reglons. Once the selsmlc upgrade refurblshment of every resldence has been
completed, the totsl number of re51dentlal spaces wlll be 376.
After the wlnter, the school rtropened In earfy March 2023. ftls rtlll extremely cold at thls tlme
of year, however, the arthltectural de5i8n of the sc1x￿1 buildings captures the intense sunlight to
warm the internal spaces.
The schooys construction pro8ramme commenced at the beglnnlng of Aprll 2023. Two
structural resldent engineers from Arup started work wlth the school's construction manager at
the beginning of Aprll. One resldent engineer was ￿P1a￿d In June and stsyed for the second
part of the buildlng season. The selsmlc upgrade of ReSIden￿ 3 South and Re51dence 3 North
was completed and both handed back to the sthLx)l. The primary structure of Resldence 4 North
was dlsmantled and rebuilt Tempornry bracing was Instslled In the followlng buildln8s: Art and
Muslc. Admlnlstratlon, Ubrary, kitchen and Dlnln8 hall. Many snags across the whole site were
completed. The Constructlon slte closed for the winter in mld-November.
Durlng 2023 Drukpa Trust agreed wlth the Druk Padma Karpo Educatlonal Soclety and Arup an
Intenslve 5-year construction programme, 2024-28. to expand the school to senlor secondary
level, cla55es 11 and 12. The extra ¢onstnKtlon would requlre the recruttment of an
experlenced site en8ineer. On 2￿ Marth 2024 Pranav Tyagi was en8aged to joln the senior
mana8ement team headed by Sonam Angdus, as Lead Site En8ineer, to focus on tschnl¢al quality
assurance. health & safety, projert delivery and reportlng.
Followlng the establishment of Ladakh as a Unk)n Terrltory of Indla, the school was able to apply
for afflllation to the natk)nally recognised Central Board of Secondary Education ICBSEI and In
October 2023 the application was SUCLtssful. ￿ month tn whlch the matrfcukitlon exams are
tsken was changed from October to Aprll. to fft In wtth the rest of India. The year 10 students
who left sclK)ol at the end of the school year In October 2023 &it their matrlculatlon exams In
Aprll 2024, with results belng In June. Hen￿. the results of the 12" ￿ar group to leave the
school wlll be glven In the 202+25 ￿pOrt.
Again, this year the garden areas have not been the focus of new plantin8 a5 the resldentlal
refurbishment programme continues. Watertng of the existlng garden areas remains an essential
tssk In thls hlgh-altltude desert envlronment. The Vi5ttorCentre continues to attract visltors
during the summer months and RanclK)'s Café was open forthe toudsts. The merchandise in the
shop and donation boxes help to bring in revenue to 5UPPOrt the facilities management
Maintenan￿ programme and the Dragon Garden LaThdscape pn)iecL
2 How the Public Have Benefftted
Druk Padma Karpo is a 'society school,. meaning it operates foT the beneflt of the community on
non-profrt basis. Since the school receives no financial support frorn public authorities. it
tharges fees that are set at localty affordable levels to cover running costs. However, some
parents are unable to afford the fÈes and are supported by an internatton31 child sponsorship
Drukw Trust.. frusteerfAnnual Rewvt& Hnonclolstotements
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Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2024
scheme. Orukpa Trust sponsors scthe ofthese disad¥antsged students and rnobilised £620.27 to
support students durlng 2023-24 (£2.076.44 in 2022-23).
At the 5tsrt of 2023 two Students were beir¥ supported by Drukpa Trust lin 2022. 6 students).
Both students left xhool in November 2023 and succe55fully ts)mpleted thelr matrl¢ulation
exams. Since November 2023. no students have been sponsored tyy'Drukpa Tnst
4.3 Contrlbutlng to Actlvltles Run by Other ￿anIsatIOnS
The School Is governed by the Druk Padma Karpo Edu(*lonal Soclety I'DPKEYI, a noTrprofit
or8ani5ation. Drukpa Trust works dosety w5th the xhool management in respect of the grants
made for sthool constructlon. child sponsorshlp, educatiorHI resources and landscape
programme.
Prindpal Mrs Mlngur An8rn0 Is supported Iw 40 teathers on the campu% one Is Vl
Prlnclpal, of whom 29 are Ladakhi, 8 fibetsn ond 3 from elsewhere In Indla. They were asslsted
by 45 support stèff and 6 administrative staff. A branch school in Khachey. In the Phokar valley.
had 48 students, sefved by 7 teathers and three support staff members.
Constructlon Manager Mr 5onarn An8dus Is supported bv a pemianent team ofthree and
employs teams of carpenters, stone masons and labourers to match Constr￿tIon requlrements
each year.
Durlng the construttlon season trustees held regular Week￿ WhatsApp ulls wlth Mr Sonam
An8dus, Mt Pranav Tya8i and the resldent en8lneers IAES) to dlscuss progress. Weekly reports bv
the RES and lead site englneer were emalled to trurtee5.
Representatives of the trust met the Chair of DPKES to dlscuss the 5-year pro8ramme durln8 hls
European Visit. It was also the maln toplc for dSscussk*n when the school Princlpal, Mrs Mingur
Angmo vlslted the UK In Ortober 2023 and durlng Mr Sonam Angdu< ¥I￿t to UK In February 2024.
4.4 Trustee Development
Trwtees are encouraged to partrcipats in de%*lopmert OPPDrtunltles as and when approprlate.
Financial Review
5.1 Detalls of any funds materfalty In defidt
The Charlty has rK+ funds whlch are materialty in deficiL
5.2 Pollcy on Reserves
The Charlvs pollcy on reserves Is to 8enerats and maintsin a balano whlch 15 suffident to cover
6 monthg running costs to preserve the financial vÉabillty of the Charity in the event that
unforeseen andlor unavoidable clrcwnstanc£ precipttate a short-term fall in its income.
5.3 Principal Sources of FurKllng and Outgolnzs
The prlncipal sources of fvndiThx are from d)arftsble tntsts arKI indi¥idual doTK)rs.
Drnkpo Trustr TnLSte&Annuul Rewrt & KN￿K101St0ten￿ts
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Drukpa Trust CIO
Trustees. Annual Report
for the Year Ended 31 March 2024
The outgoings are for the Druk Pa(kna Karpo khoDI project In Ladakh, Indla.
5A Remuneration of Tnistees
All Trustees att Sn a ¥oluntary capadty ar￿ receive no remuneratlon or other material benefits
from their services to the Charity.
Out-of.PLtht expenses necessarlty and reasonably Incurred by Trustees In promotlng the
wrposes of the Charlty are reimbutsed at cosL
5.5 Financial Status- golng concern.
Drukpa Trusys current reSoU￿eS from unreStr1rt￿ donatlons are more than sufflclent to meet
Its outgolngs for at least next ￿¥r.
All the Indlcatlons are that this will remain the case for the foreseeable fLrture. The trustees
raised funds totslling £171.87012023.. £141,368) and would like to thank all thelr supporters,
both organlsatlons and indtviduals, for the support have given durln8 the year. The trustees
expended £208.263 {2023.. £150,217) on actfvliies.
At the end of the year the trustees held reser¥*s of £252,651 {2023: £289,044).
5.6 Statutory Statements on Uabllltles
The Trustees declare that
< The charity has 8lven M 8uarantee5 Twhere Wentlal Ilabllfty under the 8uarantee Is
outstandlThg at the date of thls statement le.9.: any outstsndinyJon80in8 contract or legal
undertaking to buy or provide 5pedlk sep41ces):
< The charity has no debt outstanding at the date of th15 Statement whlch Is owed by the CIO
and whlch15 Secured by an express charge on any assets of the CIO le.q.: a mortgage on
property owned ty the charity):
Approved ￿ the Trustees and sTrgned on thelr behalf,
V. s Todd, Chair
Date: 25 November 2024
Drukpo Tru5tr. Tn￿te￿AnnUtsI Re￿& finonciolstotements
Page8of 16

Drukpa Trust CIO
Independent Examiner's Report
for the Year Ended 31 Marth 2024
6 Statement of Flnanclal Activity
6.1 Independent Examlnerfs Report on the Accounts
Report to the Trustees/Members of Drukpa Trust
on the accounts for the year ended 31 March 2024
set out on pages 10 to 16
Responslbllltle$ and Bas15 of the Report
. As the charlty trustees you are reswnslble forthe preparatlon of the accounts in accordance
with the requirements olthe Charltles Act 20111.the ACVI.
I report In respert of my exarninat5on of the Chayws accounts carrled out under section 145 of
the 2011 Act and in ¢arrwn8 Out my examinatlon I have followed all appllcable Dlrectlons
given by the Charlty C4%nmission under 5ertion 14515llbl of the Act.
Irbd•p•nd•nt Examln•rfs Sl•t•m
I have completed my examlnatlon.
I c¢rfim) that no materlal m8tters have come to my attentbn In tonnectlon wlth the
examlnadon 8tvln8 rne ouse to belle4* that In any materfal respecL'
accountlng records were not kept In respect of the Trurt as requlred bv sectlon 130 of the
the accounts do not accord with those records.
I have no con￿M5 and have come across rn other matteTS In connection wlth the examlnatlon
to which attentlon should be drawn in this ￿port In order to enable a pmper understanding of
the accounts to be read￿d.
Mark 8eale FCA DChA
[Fellowof the In5Utute of thartffedAccLvrtantsln Ewlond ond Woles
Dlploma In ChoiityA¢¢ounrfng]
Beechcroft House. Lydeard St Lawren
Taunton, Somerset. TA4 3PZ
024
Drukpu Tmstr. TntsteerfAnnuolRewwt& AnDnck71Stotemart5
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Drukpa Trust CIO
Statement of Financial Activities
for the Year Ended 31 March 2024
6.2 Statement of Flnancial Actlvltits for the Year Ended 31 Mar* 2024
Notes ilnrestrlcted Restritted
Total
Income from:
Donations
Investments
Totsl In(fjme
I65,￿6
4293
169.
139) ts7.S76
139,889
1.479
17
Ex ndlture
Raislng Funds
Charltable Artivitles
Totsl Exp•ndlturn
14,OT
140TJ
12,3¢YJ
O ts7,
O X4263
150.217
2(4263
Net Incom•1(exp•ndl￿r•j
13&7831
(¥39J)
1&8491
147831
IMJ {¥3931
1&8491
Ilatlon
Funds Brought fonward
281(58 5,986 284OM
297,893
Funds ￿rrfed IoThArd
376 W651
289,044
Poge 10 0116

Drukpa Trust CIO
Balance Sheet
)5 at 31 March 2024
6.2.1 Balance Sheet at 31 March 2024
2024
2023
Fixèd Assèts
Cu•Yent Assets
Debtors
Cash at bank and in hand
286,291
2￿,187
254.425
. Credltars: Amounts fallln8 due wlthln ¢)ne
L774
1.144
Net cu￿￿tA￿ets
251651
Not Assets
R•preMnted by.
Restrlcted Funds
Unrestrltted Funds
6,116
246,535
283,058
Total Funds
6.2.2 Approval of the Board of Trustees
These accounts were approved and s￿ned on behaff of the tnstees by..
Drs Todd, Chair
Dète.. 25 November 2024
D Cook, TreasU￿r
Date: 25 November 2024
Dwkpo Trust.. TnLstw'AnnuolReport& Flnonckn15totements
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Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2024
6.3 Notes to the Accounts
The accounts have been prepared in ac¢x)rdance wth ststemeirt of Recommended Prattlce..
Accounting and Reportlng In acc4Ydance with the Financial Reporting Stsndard appllcable In the
UK and Republlcof Ireland (FR5 102) Ieffectibp ljanuary 20151- (Charitles SORP FRS 1021 and the
Financial Reportln8 Standard appllcable in the Unlted Klngdom and Republlc of Ireland IFRS 1021
(September 2015) and the Charitles Art 2011.
S*nlficant accountin8 wlkSes are:
.' Incom1￿ Re%yuros
Income is recognlsed when the chartty has entltlement to the funds, when itls probable that the
income wlll be recelved and that the amount can be measured rellably.
Cost of 8oneratlrygfunds
These comprise costs directly attributable to fundrnlslng events plus a reasonable allocatlon of
support costs.
Charltable colts
These represent costs that are dlrectty attrlbutable to an actlth plus a reasonable allocation of
support costs.
Grants p•yable
Grants payable are recognlsed as regwrcesexpended Inthe perfod In whlth the grant Is approved
If there Is rea50roble expectationthatthe 8rant conditlonswill be met and funds wlll be released.
Support costs
These comprise costs Incurred in support of the dlrect charftable expendfture of the charty and
are thus an integral part ofthe cost of Carry1r￿ out the cl￿n￿ble objects. These are allooted to
activltles based on the time spent on each activlty.
All costs are allocated agaln5t the fund to whith they relats. Costs that cannot be Identffled to a
speclfic fund 3re allo&ited across fund5 using appropriate apportionment methods based on the
funds use of the relevant costs.
Caplla115ation and dewedat
Equlpment COSting over £500 is capitali5ed and included on the Ba￿rte Sheet as a flxed asset.
Depreciation is charged at rates that are estimated to write off cost in equal annual Instalments
over the useful lffe ofthe asseL
Drukpo Twst.. TntsteerfAnn(wlRep¢vr& FInan￿lStote￿
Pooe 12 0116

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 Mar¢h 2024
Restrlrted fund5
These represent income receNed that is subject to restrI￿n5 for use by the th)nor that are
narrower than the Chari￿5 Benerdl objects.
D•$I￿at•d funds
These represent funds set aslde bythe Trurteesfor specific purposes wtthln the charws general
obje¢ts.
Donatlons fwom:
Individuals
Grnntslcompanles
Trusts
,514
I35.￿3
ft Ald r•dalmed
T<¥tsl OoMtIoM
R•1* Fun&
Druk Padma Kar￿5th0o1
37254 W324
4612 194
137,9
4U2 w324
7.817
217
Staff Costs
Travel Ovetseas
Prlntln& Poslage &Ststionery
Sthool Equipmentlpurthased In UK)
FundraFsrng Event tosts
21.183
21.331
919
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Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2024
S GrnntsA
Indlvlduals
Insiltutlons
.741
L704
324
9L058
Independent E¥amIne￿$ Fees
Staff Colts
Travel UK
8ank Charges
L•8al C05ts
ComputerC05ts
P05ts8¢1Ststlonery
Sundry
tsi
317
216
144
173
There was 112023: 11 person employed dU￿nIthe yeaf.
Assodated costs wern •llocated between.￿￿￿*￿￿ty rosts.￿d Supwtf￿sts. arcordlnRtotlme spent.
GIftAld Reolvable
Taxatiim and Sodal Securfty
Othef ¢r•ditry5
lTrukpo Tnrt. Trustee<AnnuGI Rewirt& ￿naT￿lS1￿teM￿ts
Page140116

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2024
of Met
Sthre5trirted Restritted
Total
Debtors
Cash at bankand In hand
Credltor5'. Amountsfallin8due wlthln one
Totsl N•lAw
4116
IL774)
L7741
nsfers
Landscape Oe518n
TO*￿ R•qtrS¢t•d Funds
4ll6
Druk P4dma KarpDSd¥>ol
Capltal Proltds
R•venu• Support
2nn2 ￿.
12)7.6431
ts2
10.152
17L740
Totsl Fw
Tru5tee$'
Notrustee expenses were In￿rIed.(2D￿.Pl1Il
No provlslon15 Made forCorpoTotlM f￿a$￿ tharlty ls**letodalmfvll st¥tytory eXemp￿On.
The ￿t￿￿￿ts have been prep¥ed in accwdarKewlththe Statementof Re¢Nnmended praLtI￿.. ArcounUn8
and Reportln8 bycharfges prepwlngtheiraccounts In at£Onlan￿ with the Rnandal ReportlngStsnd8rd
applicable In the UKand Republlcol Ireland IFRS 1021 leffedlve ljanuary 20151- Ichzrities SORP FRS 1021 and
the Flnandal Reporbn8 Standard appllcable in the United ￿ngdOM and Republ1¢ of Ireland IFRS 1021
ISeptember3)151 the CharftlesAct201L
Drukpu Trusr.. Tn￿es.AnnuOlRern& HI￿n￿OIst0terneTrts
Pogp15oA16

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 Maich 2024
The SORP require5 compardtl¥e fi8ures to be SI￿ for restritted and unre5trtcted irKome for
prior year.
Notes Unrestricted Restritted
Income fvom:
Donatlons
ltsvestments
Totsl Incom•
9.589 ￿ U9,889
L479
L479
141.(E48
1368
Ralsing Funds
Charltable Actlvltles
Totsl Expendltwe
137,
1gJ,217
0 ts7.
N•t IKomellexpendltwe)
19.149)
Nét mo%*ment In fu
(9,149)
18,8491
R•¢ondllrtlon of Funds
Funds Brou8ht fopward
2913)7 5,686 297.
Fund$u￿•d f¢xwwd
284158 5 916 289 CIM
DNkpg Tru5L fnrtAnnuol Report& HnondolStt*em
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