atn9
Drukpa Trust
Registered Charity. No: 1178756
Trustees, Annual Report &
Financial Statements
for the Year Ended 31 March 2025
Trustees
Dr Stephen Todd
Annie Smith
Jonathan Rose
Di Cook
Wendy Cornwell
Roland Reinardy
Drukpa Trust.. Trustees'Annuol Rewt& Flnandolstotemthts
Pogej 0116

Drukpa Trust CIO
Trustees, Annual Report & Flnanclal Statements
for the Year Ended 31 March 2025
'9iq 16 1inA '?-1912:
In9mgtb$2
9bn4 169Y <irj*..,
?95J2
DrukpG Tntstr. Truste&Annuul Report& Flnandolstotements
Poge2of 16

Drukpa Trust CIO
Trustees. Annual Report
for the Year Ended 31 March 2025
cqg9.
ri)Tr*,,¥
,Jgu n
.Il?illinibA bnc 9J
Contents
Reference and Admlnlstratlon Detslls........................... .
Charity Name & Registration ...........................
ChariVs Addresses................... ....
Names of the Trustees Who Manage the Charity..........-....
Bank........
Structure. Governance & Mana8ement....................
Type of Governlng Document.....................
Charftable Objetts.......................
Trustee Selection Methods..............
Artlvltles...............
Statutory Declaration...-
Achlevements & Perforniance ......
Outputs and Outcomes for the Charlty$ Benefidaries..... .
How the Publlc Have Benefitted..............
Contrlbuting to ActNlties Run by Other Organisatlons...........
Trustee Development............
Flnandal Re¥lew..........- .
Detalls of Any Funds Materially In Deficit...
Policy on Reserves...... .
Prlncipal Sour￿5 of Fundln8 and Out8oin8s......................-.. -.
Remurteration of Trustees....
Flnanclal Status....
SLitutory SLitements on Liabilitie5..................... .. ....
ststement of Flnanclal Actlvlty..-..............
Independent Examinerfs Reportonthe Accounts......... .
Statement of Financial Attivities for the Year Ended 31 March 2025........- .. 10
Notesto the Accounts..........
12
Drukpa Trust.. Trustees'AnnuolReport& Finon¢iolStotements
Pooe3 of 16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 Mar¢h 2025
JlQilg*i iL¥L'I:
.rlJ iol
Reference and Administration Details
1.1 Charity Name & Reglstration
Drukpa Trust
The charity is a Charitable Incorporated Organisation, re8iStration no: 1178756, re8iStered with
the Charlty Commission on 13 June 2018.
Drukpa Trust registration no: 1014948, registered on 15 October 1992 wlth the Charlty
COMMI￿10ft, transferred Its affalrs to the ao during FY201&19.
IJA
The charlty Is registered wlth HM Revenue & Customs.
1.2 Charltvs Addresses
Administration..
114 Harvist Road. London, NW6 6HJ, UK
e-mail.. london@drukpa.org.uk
webslte: www.dwls.org
rTri'.voL'
y.)
School Project cO￿rdInatIOn, Sponsorshlp and Fundralslng:
16A Oaklands Road. Bromley, Kent, BRI 3SL UK
email., IDfo@dwls.or8
webslte: vMw.dwls.or8
1.3 Names of the Trustees Who Manage the Charlty
Stephen Todd
Annie Smith
Jonathan Rose
Di Cook
Wendy Cornwell
Roland Reinardy
Chair from 02 September 2024
Deputy Chalr
Trustee
Treasurer.
Trustee
Trustee from IS June 2024
The following non-trustee seNed as an honorary offlcer
Rachel Glynn
Secretsry
,JIIRn$4 1
1.4 Bank
CAF 8ank, 25 Kin8$ Hill Avenue. Kings Hill. West Mallin& Kent ME19 4JII
D￿kpU Tru5t.' TruStee￿A￿AUal Report& Finonciolstotements
Poge4of 16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2025
Structure, Governance & Management 1S:41nÉ
2.1 Type of Governing Document
Constitution- based on the Charity Commission's model 8ovemln8 document for Foundation
. Charitable Incorporated Organlsatlons, ie." where the Trustees are the only Members of the
charlty.
2.2 Charitsble Objects
As deflned In Drukpa Trusvs Constitutlon IGovemin8 Document}:
The charws objects I"objects"l are:
. la} to advance publlc educatbTh about and through the unlversal phllosophy, tradltlon and
prartI￿ of the Drukpa branch of Hlmalayan Buddhism a￿￿n8 persons In the UnSted Kingdom
and elsewhere;
Ib) to advance the eduCat￿n of the publlc. prlmarlly chlldren, sn literary. numeracy and other
core subjerts of the school currlculum by providing fundin8 to bulld, resource arKI malntsln
educational facilities ar￿ to support educational processes In Hlmalayan countr6es and
elsewhere; and
Icl to relieve poverty, slckness and dlstress around world by pro¥ldln8 financial help and
asslstance to those who are disadvantaged and In need of such asslstsnce.
2.3 Trustee Selectlon Methods
There must be at least three charity trustees. There is no maximum number of charity trustees
that may be appointed.
In appointing Trustees due consideratton Is glven to ensurlng that the TrusTres have. between
them. the skllls knowledge and experlence necessary to mana8e the charity effectlvely and in
accordance with charity law.
Roland Reinardy jolned as a Trustee from 15 June 2024. and Steve Todd became Chalr from 02
September 2024.
Activities
3.1 Statutory Declaration
The Trustees of Drukpa Trust conflmi that they have paid due regard to the guidance issued by
the Charity Commisslon on public benefit in deciding what Kbvtties the charity should
undertake.
Drukpu Trust.. TnJstees'AnnualReport & Fina￿1¢715t0tements
Poge 5 of 16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2025
tIOq9-. l£Jili,.
Achievements & Performance 8iflE.:
r4Tr1:'*V
4.1 Outputs and Outcomes for the Charirfs Benefftlarles 9
The school in Shey opened in 2001 with 88 students In nursery and lower klndergarten. The Total
number of students was 925 In March 202512024: 8881. There were 462 8Srbs and 463 boys. Of
those, 200 We￿ wIste￿d to live on the campus in purpose-built ￿IdenceS. 65 from remote
valleys and nomad reglons. Once the selsmic upgrade refijrbishment of every ￿SIden￿ has been
completed. the totsl number of resldentlal spo￿$ wlll be 282. wlth six students per dom)Itory
room.
After the wlnter. the school rwned in early March 2024. It Is stlll extremely cold at this tlme
of year; however. the archltectural desl8n of the school bulhtlngs captures the Intense sunllght to
warm the internal space5.
The school's construrtion prograrnrne commenced at the be8lnnlng of April 2024. Two
strurtural ￿sIdent engineers from Arup stsrted In April with the school's construrtlon dlrertor,
IP one staying for six months, the other until mithjuly at which stage another englneer lolned and
stsyed untll the autumn. The seismic upgrade of Residen￿ 4 South was completed and handed
back to the school. This was the 8 and flnal reSIden￿ to be upgraded. Temporary bracing was
installed in the Nursery & Infant school cla55rooms. A new Health Centre was started thls year.
that will include Ssolation ward5 for residential students in the event of contagious illnesses. The
construrtion site closed for the wlnter at the end of October.
Durlns 2024 Lead Slte En8lneer Prana¥ Tya81 has focussed on technlcal qualty assurance, health
& safety. project dellvery and reportiTrg.
Drukpa Trust maintalns and ￿gUlarlY rewews the organlsational and project rlsks through the
use of a risk register which uses scoring and also documents mFti8ating aCt￿n5. The risk register
Is revIev￿d monthly. Risks cover many areas indudin8 financial sustainability, stsff, reputatlon,
safeguardlng, partner organisations and benefitiaries.
Jl) Followlng the estsblishment of Ladakh 35 a Union Territory of Indla, the school was able to apply
for afflllatlon to the nationally recognised Central Board of Secondary EducatK)n ICBSE) and In
October 2023 the application was successful. All SO final year Students matrlculated fmm the
school In June 2024. 34 wtth distinrtions and 16 in the first division. This was the 12 year-group
to leave. making the totsl number of graduatss 555.
The continuing campus refurblshment has meant that the garden areas have not been the focus
of new plantlng. Watering of the existing garden areas remains an essential task in thls high-
altltude desert environment. The Vlsltor cent￿ continues to attract visitors durin8 the summer
rnonth5 and Rancho's Café was open for the tourists. The merchandlse In the Shop and donation
boxes help to bring in revenue to support the facilities management rnaintenan￿ programme,
child sponsorshlp, and the Drhgon Garden Landscape project.
Dnikpo Tmst.. Twstees'Annuol Report& finonciolstotements
Page 6oA16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2025
A Ir?knrin
rl).:.M Ll
4.2 How the Public Have Benefftted
Druk Padrna Karw is a 'society sthooy, meaning it operdtes for the benefrt of the tommunity on
non-proflt basis. Since the school reoives no financial support from public authorities, it
charges fees that are set at localty afftirdable levels to cO￿r running costs. However. some
parents are unable to afford the fees and a￿ supported by an Intprnatlonal child sponsorshlp
scheme. now managed by NGO Live To Love.
rs*?.161)n<
4.3 Contrlbutlng to Actlvltles Run by Other Organisations
The school 1$ governed ￿ the Druk Padma Karpo Educational Society I'DPKES,), a non-proflt
organisation. Drukpa Trust work5 closely wlth the school management in respert of the grants
made for school construrtlon, educatio￿1 ￿sourceS and landscape programrne.
Prlnclpal Mrs Min8ur An8mo is sUPPOrted ￿ 41 teachers on the Shey campus, one Is Vlce-
Principal, of whom 28 a￿ Ladakhi. 9 Tlbetan and 4 from elsewhere In India. They were assisted
by 44 support staff and 6 adminirtratfve staff. A branch school in Khachey, in the Phokar valley,
had 53 students, served ty 7 teathers and three support stsff members.
Con5trurtlon Manager Mr Sonam Angdu51s supported by a pemianent team offive and employs
teams of carpenters, stone masons and labourers to match constructlon requlrements each year.
Durlng the construrtlon season trustees held regular weekly WhatsApp calls wlth Mr Sonam
Angdus. Mr Pranav Tyagi and the resident englneers IRES) to dlscuss progress. week￿ reports by
the RES and lead slte engineer were emalled to trustees.
RepresentatSve5 of the trust ¥lslted Ladakh twice. Rachel Glynn went In May 2024, Jonathan Rose,
Annle Smith, Steve Todd and Rachel Gtynn went wlth Arup representstlves Rory McGowan, Anlta
Konrad and Raj Suhail In September 2024.
4.4 Trustee Development
Trustees are encouraged to partlclpate In development opportunltles as and when appropriate.
Financial Review
5.1 Detslls of any funds materfalty In deficft
The Charlty has no funds whlch are rnaterially in deficiL
5.2 Policy on ReseNes
The Charitys pollcy on ￿er¥e5 Is to generate and maintain a balance whlch Is sufficient to cover
6 rnonths. running costs to preserve the financial viability of the Charlty in the event that
unforeseen andlor unavoidable drcumstsnce precipitste a short-term fall in rts income.
5.3 Principal sour￿ of Funding and Outgoings
The principal sources of funding a￿ from charitable trusts and individual donors.
The outgoings are for the Druk Padma Karpo School project In Ladakh. India.
Dnikpa Tnist.. TnJstees'AnnualReport& Finonciolstotements
Pooe 7of 16

Drukpa Trust CIO
Trustees, Annual Report
for the Year Ended 31 March 2025
P lts'!;-Ir:f4 ?89j.'
5.4 Remuneration of Trustees
'. l. All Trustees art in a voluntsry capacity and recelve no remuneration or other materlal benefits
from thelr seThlces to the Charity.
Out-of-pocket expenses necessarily and reasonabty incurred by Trustees in promoting the
purp05e5 of the Charity are reimbursed at cost.
5.5 Flnanclal Status- goln8 concern.
Drukpa Trusvs current resources from unrestricted don*ions are more than sufficient to meet
Its outgoings for at least next year.
All the Indlcations are that thls wlll remaln the case forthe foreseeable future. The trustee5
raised funds totslllng £158,53012024: £171,870) and would Ilke to thank all thelr sUPPOrters,
both organlsattons and Individua15, for the supporttly have 8l¥en durlng the year. The trustees
expended £281,84712024: £208.263) on actlvltle
ori-.
.411 At the end of the year the trustees held reserves of £129,334 (2024: £252,651).
5.6 Statutory Ststements on Uabolltles
The Trustees declare that:
< The charlty has glven no guarantees where potentlal Ilablllty under the guardntee Is
outstandlng at the date of thls statement le.o.: any oUtstandin￿On801ng contract or legal
undertakln8 to buy or provlde speclfic ser4lcesl;
rf The Char￿ has no debt outstsndlng at the date ofthls ststement whlch Is owed by the CIO
and which is secured by an express charge on any assets of the CIO le.g..' a mortgage on
property owned ￿ the charltyl;
Approved ty the Trustees and $18ned on thelr behalf.
In¥rryq04_=V9il o?1. uil.
JiJi19b I.,, 'Il
It6 TQ ?:,l•J
Dr S Todd. Chalr
. rji Date: 01 December 2025
iin.
Y ¥.IT*t+
Drukpo Trust.. Tru5TeerfAnnuol Reporta hnoncia15totements
Poge 8of 16

Drukpa Trust CIO
Independent Examiner's Report
for the Year Ended 31 March 2025
ivij)
Statement of Financial Artivity ivII)A
Gi)nGal
6.1 Independent Examinerfs Report on the Accounts
Report to the Trustees/Members of Drukpa Trust
on the accounts for the year ended 31 March 2025
set out on pages 10 to 16
rJTrl
Responslbllltles and Ba51$ of the Re
As the charlty trustees you are resp)nslble for the preparation of the accounts in accordance
I r Wlth the requirements of the Charities Act 20111'the ACY).
I report In respect of my examlnation of the Charit(s accounts carried out under sertlon 145 of
the 2011 Art and in carrying OLrt my examlnatlon I have followed all the applicable Dlrectlons
Iven by the Charfty COmmi￿10n under sert5on 145(51{bl of the *£t.
Independent Examlnerfs Statemwt
I have complèted my examinatlon.
l confirm that no materlal matters have come to my attention in connectlon with the
examlnation 8lvln8 me cause to belleve that in any materlal respect-
accountlng ￿COrdS were not kept in ￿SpeCt of the Trurt as requlred by sertlon 130 of the
the accounts do not accord with tlw records.
I have no concems and have corne across no other matters In connertSon wlth the examlnatlon
to whl¢h attentlon should be drawn In th55 report In order to enable a proper understanding of
the accounts to be reached.
16k rri"o
0 4$ion
Mark Beale FCA DChA
[Fellow of the Institute of ChortervdAccountonts in Englandgnd Wales
Diplomo In ChurityAccountinqJ
8eechcroft House. Lydeard St Lawrence
Taunton. Somerset, TA4 3PZ
De￿mber 2nd 2025
Drukpa Tfustr. TntsteerfAnnuol Report& Flnoncio1Statements
Poge 9 of 16

Drukpa Trust CIO
Statement of Financial Artivities
for the Year Ended 31 March 2025
6.2 Statement of Financial Activities for the Year Ended 31 March 2025
-￿.) ilo. I.
'79ilfm
.17 inJbn
J21Jl i 7.1?d."n¥lViI2fJJJiuIT
2024
Total
Notes Unrestrirted Restricted
Total
Income Irom:
Donètions
Investments IC I'.t
Totsl Income
167,576
4.293
422
li
Ralslng Funds
Charltable Actlvltles
Total Empendlturn
14,073
2f&047
28L847
o ¥(
Net Income/(expend￿vej
{ll5,W)
136 3931
{￿5,507}
2,1￿ 1123,317)
136,3931
Reconclllatlon of Funds
Funds Brou8ht forward
244,275
¢376 25lffA 289,044
Funds ¢arrfed lorvAwd
ll4768 ￿566 U9,334
252,651
Drukw T￿￿t." Tru5tees'Annual Report& Flntmclolstafements
Puge 10 of 16

Drukpa Trust CIO
Balance Sheet
as at 31 March 2025
nuo)?A SflJ OJ t9J:)V:
IGThI bJ¢ Lii3 16*Y 9111
6.2.1 Balance Sheet at 31 Marth 2025
' e9JoVI
2￿24
Flxed Assets
r.1 b)4
CurrertAssets
Debtors
Cash at bank and In hand
126,673
131,338
250,119
254,425
•dltots: Amountsf•lllw wlthln on• yr
1,774
Net Current Assets
252,651
NetAssets
24651
Roprnsented by.
Restrlcted Funds
Unrestricted Funds
6,237
6.116
246,535
?y?
Totsl Funds
24651
Thé nots$ on pa8•s 12to 16foffli p*tof these actouftts
6.2.2 Approval of the Board of Trustees
These accounts were approved and ￿Ened on behalf of the trustees by:
Dr S Todd. Chalr
Date: 01 December 2025
D Cook, Treasurer
Date: 01 December 2025
Dnikpa Trust.. Tn￿ee￿￿nnU￿l Report & Fmwnclolstotements
Puge 110116

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2025
91n4jiti6'
6.3 Notes to the Accounts
Accountlng Polkl•s
The accounts have been prepared In accordance with the Ststement of Recommended Practice:
Accountlng and Rewrtlng In accordance wlth the Flnanclal Reportlng Standard appllcable In the
UK and Republic of Ireland {FRS 1021 {effectlve l January 20151- (Charities SORP FRS 1021 and the
Financlal Reportlng Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021
(September 20151 and the Charitles kt 2011.
Significant accountlng polldes are:
. IM)mln8 Resources
Income Is recognlsed when the charlty has entitlement to the funds. when It Is probable that the
Income will be reeefved and that the amount can be measured rellably.
-)9iJ
Cost ol pneratI￿ funds
These comprise costs directly attrlbutsble to fundraisin8 e¥ents plus a reasonable allocatlon of
support costs.
Charltabl• xtfvlty costs
These represent costs that are directty attributsble to an actlvlty plus a reasonable allocatlon of
support Costs.
Grants payable
Grants payable are ￿ognIsed as resources expended In the period In whlth the8rant Is approved
Sf there Is reasonable expectation thatthe 8rant conditions will be met and funds wlll be released.
Suppwt Costs
These comprlse costs incurred In support of the dlrert tharitsble expendtture of the charlty and
are thus an inte8ral part of the cost of carrying Out the charitsble objects. These are allocated to
actlvltle5 based on the tlme spent on eath activity.
Allocatlon of wsts
AII costs a￿ allocated against the fund to whlch they relate. Costs that cannot be Identlfled to a
speclflc fund are allocated across funds using approprbate apportionment methods based on the
tund's use of the relevant costs.
CapitallsatSon and depre¢latlon
Equipment C05ting over £500 is capitslised and induded on the Balance Sheet as a fixed asset.
Depreck?tion Is charged at rates that are estimated to write off c05t in equal annual instslments
overthe useful lrfe of the asset.
0￿*po Tnist.. TnJstees'AnnuaIRei￿rt& ￿ntm￿15t0teffteftts
Page 12of 16

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2025
Restrkted fvnds
These represent income recerved that is subject to re5trirtions for use ￿ the Ilonor that are
narrower than the tharitys general objects.
Oeslgnated funds
These represent funds set aside bythe Trustees for speclfic purposes wlthln the tharws general
objert5.
cJ)natlons from:
Indlviduals
&antslCompanl•s
Trusts
4L253
22.756
,514
163,270
Glft Abd reclalrned
Tot•1 Don*loM
Ivi
R•Is1￿ Funds
1413
DNk Padma Karpo Sdwl
285 22&8>)
&932
266.017
Totsl R•wN•s Exp•nd•d
6n
345 24LW X&263
Staff Costs
Travel Overseas
Prfntln& Posiage & Stat5onery
Sthool EquSpment Ipurthased in iKI
Fundraising Eventcosts
24.765
21501
Ll)55
46n
Drukpo Trustr. TnJstee<Annuol Report & finoncioistrtements
Page13 0116

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2025
Indibidu81s
Insfjluttons
Totsl Gr￿￿A￿¥￿e￿
15L704
91,058
In¢Jependent Eyamlne¢s Fees
4...1 &8ff Cbsts
Travel UK
Bank I￿argeS
Le8al Ci*sts
(>Jmp￿￿ i)Jsts
Postagw&aUonery
SJndry
317
ITJ
There was 112W" I) person employtd durlng Iheytar.
Asso¢late(l Costs wereallocaled betw¢en'DfirertadtAtyeosts' and ￿ppOrtC0Str' 4c¢ordln8ty ttme spent
>l(Jk GHt￿d Reedvable
Taxaiion and Sodalsecudty
Olher credltors
L144
Total
&774
Drukpa TNSL. Trustees'ArynuolReiwJrt& ￿n0￿ch715t0teM￿ts
Poge 14 of 16

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2025
gr1+ oj )¢".ts{j¥4
li
Unrestricbj P<strlLted
Total
Debtors
sh at bank and In hand
c¥edltors: Amountsfalllng duewlthln onepr
NetA%s•ts
43
2￿),1
1,734
&1
L774
R•$trlrtod Funds
Lands¢ap6 Deslgn
Total R•strl¢t•d Fun
Unreslrtci•d Fthndg
Druk Pa¢Jma Karpo &hool
pityl Proleets
Rthnue&pport
TotilUnrestrfct•d Fwfidi
rAn2 12)7.eA3)
10,346
281W 17L740
Toial Fund¥
Th• unrnstrlci•dlund* hm b••n O••lifi*•d In totato mpportI￿ th• dw•iopm•nt ol
DrnkPodm•Kry 8(*ool In L*l*h, Ind1&
No trusteeoypenseswwe ln¢urnd.12￿.N1Il
No provJ51on Is maOeforO)rporalon Tax asthethadtyls ablelo dalm full siaiutt)ryexempfjon.
The accounts haNtbeen prepaf•J In 8c¢ordancewlth the *tsmentol ￿0MMend￿j Pra¢llce'. Aecountlng 8nd
Reporting bythdrf￿85 preparlngtheiraceounts Sn aceordancewlth theRnanclal Aeporting *ndard
appllcable In the UK8nd Republlc ol lieiand IFR5MW leffed1￿ lJanuary20151- ltharlles 9)RP Fk81￿ and
the Flrianclal Re￿Or￿n1 gandard appllcable In the IMlteAI Klngdom and Rq>ubllc ol ITdand IFPSIO¥
Iwiember Z)1S1 and Ihe ()arllSes Act2nL
Dnikpo Trnst." Tnistees'AnnualReport& FinonciGlStatements
Poge 15of 16

Drukpa Trust CIO
Notes to the Accounts
for the Year Ended 31 March 2025
.. The SORP requires compardtlve figures to be shown for restricted and unrestricted income ft>r the
prior year.
X124
Notes Lh)restricted Restricted
Tot
Int¢)m• Irom,
Donations
Investments
165.186
4.293
169.480
139) 167,576
4,293
1390 171,870
Total Incom•
ndStur• thi:
Raisin8 Funds
CharTrtable Activities
Total Exp•ndltw•
14,lJ13
I￿,190
21￿,263
i94.￿0
21X.263
N•tlnwm•l(•xp•ndltur•)
{38,7831
1390 I￿,￿3)
t mov•nwnt In f(w)ds lorth•
138,7831
2,390 136,3931
P•condll•fjonofFun
Funds 8rov8ht forward
283,C68
S,￿ 28J.(W4
Fundl ¢wrl•d for￿rd
244,275
4376 252,651
Dmkpo T￿￿.. Trustees'ArynuulReKW)rt& Finonuolstotements
Poge16of 16