2021-12-31-accounts - Sang-Ngak-Cho-Dzong

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Sang-Ngak-Chö-Dzong

Annual Report and Financial Statements

PERIOD ENDED 31 DECEMBER 2021

Charity Number 1181153 Company Registration Number 11634542

SANG-NGAK-CHÖ-DZONG

FINANCIAL STATEMENTS

PERIOD ENDED 31 DECEMBER 2021

CONTENTS	PAGE
Reference and administration details of the charity and its
advisors	2
Trustees annual report	3 to 7
Independent Examiners Report	8
Statement of financial activities (including income and
expenditure account)	9
Balance sheet	10
Notes to the financial statements	11 to 18

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SANG-NGAK-CHÖ-DZONG

REFERENCE AND ADMINISTRATION DETAILS

PERIOD ENDED 31 DECEMBER 2021

Registered charity name Sang-ngak-chö-dzong Charity registration number 1181153 Company registration number 11634542 Charity’s principal address Drala Jong Pantyporthman Bancyffordd Llandysul Carmarthenshire Wales SA44 4RY Charity’s contact address 64 Sycamore Drive Torpoint PL11 2NA

The trustees

The directors of the charitable company (“the charity”) are its trustees for the purposes of the charity law and throughout this report are collectively referred to as the trustees.

The Trustees who served during the year and since the year end were as follows:

Miroslav Cansky Chair resigned post Oct 21 Resigned June 22 Susanne Olfs Chair appointed Oct 21 Paul Hurley Secretary Christopher Haydon Treasurer Steven Sheppard Marion Baud resigned Oct 21 Neil Justice Adrian Gilbert Ö-Sel Nyima Anna Davis appointed Oct 21 Independent examiner Joanne Trowbridge MAAT Bristol Community Accountants CIC The Park Daventry Road Knowle Bristol BS4 1DQ Bankers CAF Bank 25 Kings Hill Avenue West Maling, ME19 4TA

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SANG-NGAK-CHÖ-DZONG

TRUSTEES ANNUAL REPORT

PERIOD ENDED 31 DECEMBER 2021

The Trustees present their report and the unaudited financial statements of the charity for the period ended 31[st] December 2021.

Reference and administrative information set out on page 2 forms part of this report.

Structure, Governance and Management

Governing Document

The charity is constituted as a company limited by guarantee, incorporated on 22[nd] October 2018, registered under the Companies Acts (registration number 11634542) and its governing document is its Articles of Association. It was granted charitable status by the Charity Commission under number 1181153.

Corporate Governance

By operation of law all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

Trustees are selected by invitation of the Board, based on willingness and capability to serve, the needs of the company and individual suitability and integrity. At the end of their fixed term trustees may apply to be re-elected onto the Board. The charity inherits the policy of its predecessor on induction of trustees. This is based on the Charity Commission’s The Essential Trustee . This policy will be regularly reviewed.

Organisational structure

The charity works within the framework of a world-wide Sangha* and in close collaboration with its sister charity in the United States of America, a registered non-profit company Aro Gar inc. and a recently formed Finnish charity Drala Thang.

The day to day running of Drala Jong and development of future strategies for the centre have been devolved to a sub-committee reporting to the Board of trustees. Previously called the Synod, the Drala Jong Management Team has become operational although they await the establishment of a new, separate bank account with business cards that will facilitate the financial operation of the centre.

*Sangha is a term for a Buddhist community of practitioners, usually of a similar lineage.

Related parties and co-operation with other organisations

Sang-ngak-chö-dzong and Aro Gar are independent but collaborate over teaching events held in each other’s countries, and fundraising for any common purpose such as the establishment of Drala Jong as the retreat centre.

Objectives and activities

The charitable purposes of the Charity are to advance the Vajryana Buddhist religion, in particular but not exclusively the Aro Lineage of the Nyingma tradition of Tibetan Buddhism by such charitable means as the Trustees think fit from time to time.

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SANG-NGAK-CHÖ-DZONG

TRUSTEES ANNUAL REPORT

PERIOD ENDED 31 DECEMBER 2021

Public Benefit summary

The trustees are aware of and take account of the Commission’s guidance on public benefit in their policy and decision making regarding activity and spending.

Summary of the main activities in relation to those purposes for the public benefit

Establishment of a public retreat, teaching and archive centre. Support for publication of on-line teachings through broadcast and archived video, images, text and audio and book publication. Support for the teaching and development of practitioners, teachers and apprentices. Promotion of the nonmonastic ordained Ngak’phang tradition in the West through publicity and forging links with Nepal, Bhutan and other traditional Vajrayana countries. Medical and housing support for Tibetan Lamas in exile. Sponsorship and support for craft projects associated with traditional art and sculpture, practice equipment manufacture, production of ritual costumes etc.

ACHIEVEMENTS AND PERFORMANCE

Summary of main achievements

The charity continued to operate during a period of ongoing Covid-19 restrictions but, of necessity, in a somewhat restricted manner.

The retreat centre, Drala Jong, acquired by the charity in 2019 remained closed to the public throughout the reporting period. This was due to Covid restrictions and the consequent inability to progress with conversion of the premises to make them suitable.

This was in part due to financial constraints, but also due to restrictions on supply of materials, nonavailability of contractors and many other consequences of the ongoing pandemic situation.

It continued in use as a residence and studio for on-line zoom broadcasts of teachings and, when Welsh government rules permitted, it was visited by volunteers to perform maintenance and development works. These included temporary catering facilities that will enable further volunteer events and small teaching events for visiting members.

Work on the land, being outdoors, was less affected, and included tree planting, hedge laying and clearing of fallen trees and developing strategies for better control of run-off water to preserve topsoil and reduce erosion.

These measures have obvious ecological benefits for plant diversity, improved animal habitat and carbon sequestration as well as the enjoyment of the environment for future generations.

Work on the shrine room has progressed well to a level where it can now function as such but it is somewhat limited by the kitchen facility at the top end which awaits the construction of a new extension into which this can be moved.

Having and developing a centre and base forms a focal point and venue from which residents, members, visiting volunteers and others have benefitted, and this will increase as development progresses.

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SANG-NGAK-CHÖ-DZONG

TRUSTEES ANNUAL REPORT

PERIOD ENDED 31 DECEMBER 2021

Where possible, we have sought to bring economic benefit to the local community via contracting services and tradespeople, forging links with individuals and organisations locally, and using sustainable methods that will provide environmental benefits in years to come.

We have continued work on our web resources which we hope will increase public accessibility to the Vajrayana Buddhist teachings. The scope of this project has widened during the year as it affords an opportunity to review content as well as simply transferring it to a new platform, but this inevitably extends the timeframe for its completion.

The charity has entered into an agreement to support Aro Books Worldwide, a small-scale enterprise who publish books on Buddhism. The support is in the form of financing up-front costs such as ISBN registration and the supply of a printed copy of published works to the national library. In return ABW donate proceeds from their sales to the charity.

This benefits authors, giving them a platform for disseminating their work, and also those members of the general public who may wish to read such works.

Achievements against objectives

Slow progress continued (as in the previous year) towards establishing a retreat centre that is initially available to members and will eventually open to the public. The COVID restrictions were a major factor in the reduced rate of development. By the end of the reporting period we had entered into more detailed discussions with our architectural consultants/project managers about our specific needs and priorities and likely costs. Both they and ourselves have been less able to proceed as envisaged due to prevailing circumstances.

Progress on web development transitioned from exploring options and deciding on a suitable platform to the process of transferring material to a new web platform, which is now underway.

Fundraising activities

We were awaiting more details of the cost of building development at Drala Jong at the end of the reporting period, in order to set fundraising targets. At this point the charity suffered a financial setback as a result of damage to the woodland by storm Arwen at the end of November.

This required immediate action to clear fallen trees from adjacent property and a stretch of public road and make the overlying slopes safe from fallen and damaged trees threatening those involved in clearing the roads. The eventual cost turned out to be around £40k*. This put all other fundraising efforts temporarily on hold.

Although sufficient funds were in place to meet this unexpected demand an immediate appeal was launched in order to recover our financial position and the generosity of regular donors, members and friends meant this amount was largely recouped during the first quarter of 2022. *of which only £10k was expended during this reporting period

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SANG-NGAK-CHÖ-DZONG

TRUSTEES ANNUAL REPORT

PERIOD ENDED 31 DECEMBER 2021

Investment policy and objectives

Our existing policy was aimed at protecting savings capital rather than growth. Now we have become property-owning our policy will be reviewed but the immediate aims are to develop the property rather than invest in other forms of capital.

Apart from maintaining and improving its own property the charity has no investment goals, and indeed currently holds no investments in other forms.

Financial review

The charities cash funds have once again remained relatively stable. During the year the trustees have approved expenditure on equipment, furnishings, improvements etc. and charitable activity based on affordability and income levels. At the end of the year there was a dip due to the unforeseen storm event, but the success of our Storm Arwen appeal in early 2022 has seen this recovered.

Reserves policy

The policy is to aim to have two years’ worth of essential expenditure in reserve. The reserve is intended to see the charity through a period of unforeseen financial stress caused by loss of income, or unavoidable and unforeseen expenditure, enabling it to continue its essential core activity and meet any liabilities until a recovery strategy can be enacted. As stated below the amount has been amended as a result of recent experience.

During the reporting period this amount was designated at £20k but in light of our experience with storm Arwen the amount will be increased to £30k.

The charity’s principle sources of funds

The principal income is from regular donations and one-off donations predominantly from supporters and practitioners among the sangha we represent. A little comes from activity such as on-line large retreats, fundraising events, public appeals and sales of practice material and books.

Principle risks facing the charity and risk management

We have continued to develop written policies and procedures to assure good corporate governance. This include documents on Health and Safety, managing conflict of interest, induction of new trustees, and investment strategy guidelines.

The principal risk to the charity is considered to be the loss or damage of property, loss or damage of reputation and a significant reduction in regular income.

Going concern

The ongoing viability of the charity in light of external pressures has been considered by the trustees.

At the end of 2021 the COVID situation seems to be easing but is not over and the reimposition of severe restrictions, whilst unlikely, is not impossible. The trustees feel that, having weathered the last two years, the charity has learned to adapt and sees no reason to think they would not be in a position to respond well to any future privations of a similar nature.

Energy price shocks, inflationary pressures and a general recession in the economy probably represent greater threats in the coming year, but in general the trustees would manage these by slowing down

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SANG-NGAK-CHÖ-DZONG

TRUSTEES ANNUAL REPORT

PERIOD ENDED 31 DECEMBER 2021

the pace of building development, restricting activity to affordable levels, and other measures to manage expenditure which would enable continuing financial viability.

After reviewing the charity’s forecasts and projections and its reserves, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Trustees’ responsibilities in relation to the financial statements

The Trustees (who are also directors for the purposes of Company law) are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure for that period. In preparing the financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small company’s regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the charity’s trustees/directors:

…………………………………………….

Paul Hurley - Director

Date ………………………………………2022 26th Sept

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SANG-NGAK-CHÖ-DZONG

INDEPENDENT EXAMINERS REPORT

PERIOD ENDED 31 DECEMBER 2021

I report to the charity trustees on my examination of the accounts of Sang-ngak-chö-dzong for the period ended 31 December 2021.

Responsibilities and basis of report

As the trustees (and also directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act).

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the accounts do not accord with those records; or

• the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

the accounts have not been prepared in accordance with the Charities SORP (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joanne Trowbridge MAAT ………………………………………… Bristol Community Accountants CIC The Park, Daventry Road, Knowle 26th September Bristol BS4 1DQ Date ..............................................2022

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SANG-NGAK-CHÖ-DZONG

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 DECEMBER 2021

General Funds £ 47,953 5,566 1,105	Restricted Funds £ 53 - -	Total Funds 2021 £ 48,006 5,566 1,105	restated Total Funds 2020 £ 43,342 5,239 1,963
54,624	53	54,677	50,544
453 55,898 2,985	1 1,410 -	454 57,308 2,985	295 49,154 9,732
59,336	1,411	60,747	59,181
(4,712) (1,030)	(1,358) 1,030	(6,070) -	(8,637) -
(5,742)	(328)	(6,070)	(8,637)
(5,742) 745,990	(328) 328	(6,070) 746,318	(8,637) 754,955
740,248	-	740,248	746,318

All of the activities of the charity are classed as continuing

The notes on pages 11 to 18 form part of these financial statements

As required by paragraph 4.67 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

Details of the allocation of 2020 total funds between unrestricted and restricted are shown in note 18

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SANG-NGAK-CHÖ-DZONG

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2021

Note Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Total current assets Creditors : Amounts falling due within one year 15 Net current assets or liabilities *Total net assets or liabilities* The Funds of the Charity 16 Restricted funds Unrestricted funds	2021 £ 665,545 2,016 75,212	restated 2020 £ 672,267 2,016 73,706
	77,228 (2,525)	75,722 (1,671)
	74,703	74,051
	740,248	746,318
	- 740,248	328 745,990
	740,248	746,318

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements were approved by the trustees on ………………. and are signed on their behalf by:Sept 8 2022

………………………………. ………………………………. Paul Hurley Christopher Haydon Director Director

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1 Accounting Policies

Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Fund accounting

Unrestricted funds

Designated funds

Restricted funds

These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

These are unrestricted funds earmarked by the trustees for particular purposes.

These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of income

Income with related expenditure

Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Where income has related expenditure the income and related expenditure is reported gross in the SoFA.

Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income.

Tax reclaims on donations and gifts Donated services and facilities

Volunteer help Investment income

Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates.

These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.

The value of any volunteer help received is not included in the accounts.

This is included in the accounts when receivable.

Expenditure

Recognition of expenditure

Expenditure on raising funds

Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Expenditure on charitable activities

These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.

Governance costs

Other expenditure

These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost less accumulated depreciation and impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	33.3	% straight line
Buildings	2	% reducing balance
Motor vehicle	5	% straight line
Ritual items	not depreciated

Assets are not depreciated in the year of purchase.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Income and Endowments From:

3 Donations and Legacies

Donations Gift aid Tree sponsorship Aro mentorship	Unrestricted Funds £ 45,662 - 200 2,091	Restricted Funds £ 53 - - -	Total Funds 2021 £ 45,715 - 200 2,091	Total Funds 2020 £ 33,307 2,046 5,749 2,240
	47,953	53	48,006	43,342

Donations and legacies prior year

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Donations	32,048	1,259	33,307
Gift aid	1,763	283	2,046
Tree sponsorship	5,749	-	5,749
Aro mentorship	2,240	-	2,240
	41,800	1,542	43,342

4 Charitable Activities

Apprentice Retreats Annual apprentice subscriptions	Unrestricted Funds £ 50 5,516	Restricted Funds £ - -	Total Funds 2021 £ 50 5,516	Total Funds 2020 £ 135 5,104
	5,566	-	5,566	5,239

Charitable activities prior year - all unrestricted

5 Other Trading Activities

Sales revenue Miscellaneous Income	Unrestricted Funds £ 1,105 -	Restricted Funds £ - -	Total Funds 2021 £ 1,105 -	Total Funds 2020 £ 1,893 70
	1,105	-	1,105	1,963

Other trading income prior year - all unrestricted

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Expenditure on:

6 Raising Funds

Other finance charges	Unrestricted Funds £ 453	Restricted Funds £ 1	Total Funds 2021 £ 454	Total Funds 2020 £ 295
	453	1	454	295

Raising funds prior year - £18 restricted, all other expenditure unrestricted

7 Charitable Activities

Grants payable Website and IT Miscellaneous expenses General rates Utilities Travelling Expense Postage and carriage Telephone Equipment & supplies Insurance Vehicle costs Repairs and maintenance Health and safety Bank fees Animal maintenance Depreciation	Unrestricted Funds £ 1,923 301 526 663 5,666 54 - 678 192 2,229 529 23,785 2,206 114 310 16,722	Restricted Funds £ 1,410 - - - - - - - - - - - - - - -	Total Funds 2021 £ 3,333 301 526 663 5,666 54 - 678 192 2,229 529 23,785 2,206 114 310 16,722	Total Funds 2020 £ 1,206 2,088 1,648 1,045 967 4,137 148 675 324 1,980 - 19,923 377 100 806 13,730
	55,898	1,410	57,308	49,154

Charitable Activities prior year - Restricted grants payable £1206, all other expenditure unrestricted

8 Other

Legal fees Accountancy fees Independent Examination	Unrestricted Funds £ 575 1,911 499	Restricted Funds £ - - -	Total Funds 2021 £ 575 1,911 499	Total Funds 2020 £ 7,367 1,886 479
	2,985	-	2,985	9,732

Other prior year - all unrestricted

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

9 Net incoming resources for the year

This is stated after charging:	2021	2020
	£	£
Independent Examination Fees	499	479

10 Staff costs and numbers

No salaries or wages have been paid to employees, including members of the committee during the year.

Trustee expenses

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil) neither were they reimbursed expenses during the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

11 Related Party Transactions

There were no related party transactions in the year (2020: £nil)

12 Prior year adjustment

The prior year comparatives have been restated to account for capital costs incurred in that year being reclassified as tangible assets.

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Property £ 676,125 -	Motor Vehicle £ - 10,000	Fixtures & Fittings £ 4,411 -	Ritual Items £ 5,461 -	Total £ 685,997 10,000
676,125	10,000	4,411	5,461	695,997
13,523 13,252	- 2,000	207 1,470	- -	13,730 16,722
26,775	2,000	1,677	-	30,452
662,602	-	4,204	5,461	672,267
649,350	8,000	2,734	5,461	665,545
year		2021 £ 2,016	2020 £ 2,016
		2,016	2,016
		2021 £ 1,591 934	2020 £ 916 755
		2,525	1,671

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

16 Movement in material funds for current period

At 01-Jan 2021 £ 328	Income £ 53	Expenditure £ (1,411)	Transfers £ 1,030	At 31-Dec 2021 £ -
328	53	(1,411)	1,030	-
37,139 35,545 1,039 672,267	16,240 38,384 - -	(5,420) (37,194) - (16,722)	(11,030) - - 10,000	36,929 36,735 1,039 665,545
745,990	54,624	(59,336)	(1,030)	740,248

746,318	54,677	(60,747)	-	740,248

General funds

The General fund balance, £36,929 represents the free reserves available to the charity at the end of the year.

Purpose of designated funds

Asset depreciation - represents the value of unrestricted fixed assets held on the balance sheet at year end.

Drala Jong - A designated fund has been established in order to procure a permanent home for the Aro Tradition and the many Buddhist Artefacts.

Garuda Brocade - The charity sponsored the manufacture of a quantity of specially designed silk brocade woven in India. This brocade is used to make traditional ritual items.

Purpose of restricted funds

Lama support - The Lama support fund is money raised by appeals for the purpose of providing support for the accommodation, medical, and mobility needs of Jomo Sam-phel Déchen, an elderly Tibetan Lama of our tradition who lives in exile in Nepal.

17 Analysis of net assets between funds

Tangible Fixed Assets Cash at Bank and in Hand Other Net Current Assets/(Liabilities) Total	General Fund £ - 37,438 (509)	Designated Funds £ 665,545 37,774 -	Restricted Funds £ - - -	Total £ 665,545 75,212 (509)
	36,929	703,319	-	740,248

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SANG-NGAK-CHÖ-DZONG

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

General Funds £ 41,800 5,239 1,963	Restricted Funds £ 1,542 - -	restated Total Funds 2020 £ 43,342 5,239 1,963
49,002	1,542	50,544
277 51,738 9,732	18 1,206 -	295 49,154 9,732
61,747	1,224	59,181
(12,745)	318	(8,637)
(12,745)	318	(8,637)
(12,745) 754,945	318 10	(8,637) 754,955
742,200	328	746,318

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Sang Ngak Cho Dzong Year end accounts 2021

Final Audit Report 2022-09-26

Created: 2022-09-23 By: Christopher Haydon (ccmhaydon@gmail.com) Status: Signed Transaction ID: CBJCHBCAABAAsZ2N-BL0iuDpYGFo58cXeOZLkOBRrlnG

"Sang Ngak Cho Dzong Year end accounts 2021" History

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