2020-12-31-accounts - Rigpa Fellowship

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Charity number: 279315

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RIGPA Fellowship
(A Charity governed by its Trust Deed, charity number 279315)
Financial Statements
and
Trustees' Report
for the year ended 31 December 2020
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AT RIGPA Fellowship

(A Charity governed by its Trust Deed, charity number 279315)

Index to the Financial Statements for the year ended 31 December 2020

	Page
Index to the Financial Statements	2
Charity Information	3
Trustees' Report	4 - 7
Statement of Trustees' Responsibilities	8
Independent Auditor's Report	9 - 10
Statement of Financial Activities	11
Statement of Financial Postion	12
Statement of Cash Flows	13
Accounting Policies	14 - 15
Notes to the Accounts	16 - 21

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AT RIGPA Fellowship

(A Charity governed by its Trust Deed, charity number 279315)

Charity Information

for the year ended 31 December 2020

Status:	RIGPA Fellowship is an unincorporated trust, constituted under a Trust Deed dated 11
	November 1979 which established the objects and powers of the charity.
Charity name:	RIGPA Fellowship
Charity registration number:	279315
Registered office:	330 Caledonian Road
	London N1 1BB
Operations address:	330 Caledonian Road
	London N1 1BB
Trustees who held office	Gregory Miller Burne
during the year:	Daniel Amechi Nwume
	Mary Penelope Deeks
Independent Auditor:	Armstrong & Co
	Chartered Accountants & Statutory Auditor
	4a Printing House Yard
	Hackney Road
	London E2 7PR
Bankers:	The Royal Bank of Scotland Plc
	City Commercial Centre
	62 - 63 Threadneedle Street
	London EC2R 8LA
	0
	CCLA Investment Management Ltd
	COIF Charity Funds
	80 Cheapside
	London EC2V 6DZ

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2020

The Trustees of RIGPA Fellowship present their report together with the financial statements for the year ended 31 December 2020.

1) Structure, Governance And Management

1.1 Trustees

The Trustees of the charity who held office during the year were as follows:

Gregory Miller Burne.
Mary Penelope Deeks.
Daniel Amechi Nwume.

The trustees held seven formal Trustee Meetings during the year.

1.2 National Team

The Management Team of the charity was as follows during the year:

National Director: Paul Brusa (made redundant on 31st July 2020).
National Administration Assistant: Jane Hanlon (contract ended on March 2020).
National Administrator: Gui Nunes (made redundant on 18th September 2020).

1.3 Safeguarding Lead

Ingrid Franklin

The charity has various groups that meet regularly to discuss different issues of the charity.

2) Objectives, Activities, Achievements and Public Benefits

2.1 General aims of the Fellowship and how it is going about trying to achieve these

2.1.1 Objects

The objects of the Rigpa Fellowship as set out in the Declaration of Trust are as follows:

Main Object

To advance the Buddhist religion according to all the Schools of Buddhism and in particular, but without prejudice to the generality of the foregoing, the traditions of the Nyingmapa School of Tibetan Buddhism.

And in Furtherance of the Main Object

a) To preserve Tibetan philosophy, logic, metaphysics, art, sacred dance, sacred music, crafts and skills, medicine and astrology;
b) To provide support for members of the sangha at centres established in the United Kingdom or elsewhere;
c) To establish centres, schools, colleges, institutions, monasteries, nunneries, communities and retreats in the United Kingdom and elsewhere;
d) To provide libraries and facilities for writing, translating, printing, publishing and selling books and pamphlets;
e) To preserve relics, images and other sacred Buddhist objects and other objects associated with Tibetan philosophy, logic, metaphysics, art, sacred dance, sacred music, crafts and skills, medicine and astrology.

2.1.2 Furtherance of Objects

During the year in question, the Fellowship maintained its policies to further these objects, namely:

a) the invitation to Buddhist teachers to instruct and officiate at meetings of the membership and at public meetings;
b) the maintenance and development of shrine rooms and meeting facilities for the membership of the Fellowship and for members of the public to study and practise Buddhism and to participate in talks and seminars on related western disciplines;
c) the maintenance and development of a coordinating office for the activities of the Fellowship in the UK and its areas of beneficial interest;
d) the publication of oral and written teachings of the Tibetan Buddhist tradition in translation.

2.1.3 Policy

There were no material changes in the policies pursued by the Fellowship since the last report, although Covid-19 had a negative

distancing requirements were not deemed safe to open to the public from the period of March 2020 through to October 2021.

2.2 Objectives for the year

Buddhism.

To continue to provide courses for existing students.
To hold retreats & events, including online events.

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2020

2.3 The Charity's strategies

same, until the Trustees took the decision to make staff redundant and transition to a volunteer run organisation as a consequence of the financial impact of the Covid-19 pandemic on the charity.. The salaries for all staff were supported by income from the

2.4 Significant Activities

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DATES ONLINE PROGRAMME using Zoom for Rigpa UK Sangha members
March 2020 onwards All Encompassing Path Monthly gatherings
These gatherings for Sangha members continued online each month with members studying
the Bodhicharyavatara, a core Buddhist Mahayana text, and practicing together. Average
attendance each month was 30 people.
April 2020 onwards Cuppa and Connect
These fortnightly gatherings were an opportunity for Sangha members to get together, have a
friendly chat and practice together. Average attendance each week was 10 - 15 people.
March 2020 onwards Meditation and other weekly practices
Instructors held meditation and other weekly practices on two or three evenings a week each
term. Average attendance each week was 5 - 10 people.
March 2020 onwards Dzogchen Mandala Study Days
These gatherings for Dzogchen Mandala students continued online each month. Average
attendance each month was 30 people.
ONLINE WEEKEND SANGHA COMMUNITY EVENTS using Zoom
October 3rd and 4th 2020 UK Sangha Community event
This was a special community weekend which provided everyone in the UK with an opportunity
to connect and catch up with each other, and to hear the latest Rigpa news and developments
and learn more about volunteer opportunities in Rigpa UK
Attendee numbers: approx 75.
Sat December 5th or Sat
UK Sangha Community event
December 6th 2020
and provided our community with the space to connect, practice together and share feedback.
Attendee numbers: approx 75.
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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2020

2.5 Public benefit statement

The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties. The main activities undertaken by the charity to further its charitable purposes for the public benefit are outlined in the sections above.

3) Financial Review

3.1 Key personnel

Ev Samuel - book keeper (paid freelance, started 9th August 2018).

Regional Group Coordinator (Volunteer)

Corinne Ewen (South Downs)

Catherine McCreadie (Birmingham) (from August 2020 this group no longer rent a space for meeting).

National Team/Trustees (London) - (London was managed by the national team and post redundancy, by the Trustees).

3.2 Finance

Activities during the year:

Fundraising

In 2020, £63 was raised from Visiting Teachers; bookings that were not refunded.
In 2020, £8,143 was raised from donations.
In 2020 £8,971 was raised from renting out the flat and £525 was raised from renting out the shrine room
Sanga/Practice sessions raised £1,585

Expenditure

How expenditure has supported the key objectives of the charity.

£3,114 was spent on the building for general repairs and renewals in 2020.
£405 was spent on Marketing in between January and March 2020.
£5,960 was spent on Safeguarding.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 11 to the accounts.

Reserves Policy

The Trustees' intention continues to be to hold reserves to cover a minimum of six months of operating costs, holding sufficient reserves to safeguard the long-term security and future of the charity, continuing to provide and enhance the services provided by the charity. The policy on reserves continues to be reviewed annually. At 31 December 2020, the value held in general reserves was £229,874. The result of the Charity's investment in COIF saw interest for the year 2020 totalling £361.

Concluding Comments

Rigpa UK is an independently governed charity and does not contribute tithe payments to any international Rigpa entity. Continued efforts by those involved in the finance & fundraising area need to be maintained with the aim of improving the income streams.

4) Plans for 2020 and beyond

In March 2020, up until October 2021, due to Covid 19, all Rigpa centres have remained closed for in person gatherings but continued to provide an online programme of study to existing students. Visiting teacher and physical events were cancelled, rent of and Gui Nunes (National Administrator) were made redundant, as part of essential cost cutting measures. The charity has transitioned into a volunteer run organisation.

The charity benefitted from a local council grant and secured an interest free loan (12 months) from the bank to aid cash flow.

The current financial climate still presents a challenge, and careful financial monitoring during the coming years.

General donations, membership and student subscriptions continue to be major income generators. However, renting out parts of the property generated considerable income and presents an opportunity for long term sustainability. Plans are being considered for generating further income from development of more areas of the charity's property, for residential and commercial rent and venue hire.

The charity continues to secure and monitor all income streams to ensure continued financial stability.

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2020

and running of online courses.

During 2020 the charity further assisted the Charity Commission in their statutory inquiry of the charity, which concluded in

Provision of virtual and in-person courses for members of the public and students new to Tibetan Buddhism.
To enable existing students to maintain their study and practice.
Hosting recorded and live courses and teachings by Tibetan Buddhist teachers.

The charity continues to undertake capital improvements to the London Centre's main meeting hall.

Trustees, with the aim of providing sufficient resources in the event of adverse conditions.

5) Independent Auditor

The Independent Auditor, Armstrong & Co, Chartered Accountants and Statutory Auditor, have indicated their willingness to be proposed for re-appointment.

The trustees acknowledge and confirm their responsibilities for preparing the financial statements and providing appropriate information to the auditor as detailed in the Statement of Trustees' Responsibilities set out on page 8.

The financial statements were approved by the Board of Trustees on 29 October 2021 and signed on its behalf by:

Gregory Miller Burne Chair of Trustees

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Statement of Trustees' Responsibilities for the year ended 31 December 2020

The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the financial activities of the charity and of its financial position at the end of that period. In preparing those financial statements the trustees are required to:

a) Select suitable accounting policies and apply them consistently;
b) Observe the methods and principles in the Charities SORP;
c) Make judgements and estimates that are reasonable and prudent;
d) Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts;
e) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.

The trustees are responsible for maintaining proper accounting records which 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 Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Independent Auditor's Report to the Trustees of RIGPA Fellowship

We have audited the financial statements of RIGPA Fellowship for the year ended 31 December 2020 which comprise the Statement of Financial Activities, Statement of Financial Postion, Statement of Cash Flows and the Notes to the Accounts to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in Note 2 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information in the trustees report, but does not include the financial statements and our auditor's report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

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(A Charity governed by its Trust Deed, charity number 279315)

AT RIGPA Fellowship

Independent Auditor's Report to the Trustees of RIGPA Fellowship

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities set out on page 8, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the specific business environment in which they operate, the reporting requirements they are obliged to adhere to and other legal and regulatory requirements applicable to operating entities in general. These include the Charities Act 2011, FRS 102, the Charities SORP, GDPR and COVID-19 support schemes legislation. The charitable company operates locally and is not significantly impacted by international law or regulations. Taxation law and regulations applicable to charities but it is not involved in any complex matters that increase the risk of noncompliance.
Each area of audit review includes in the audit documentation reference to potential non-compliance and awareness of potential non-compliance is embedded in our audit procedures.
We assessed the risks of material misstatement in respect of fraud by enquiry of management, review of the charity's operations and direct review of significant and material transactions, including all non-standard or irregular journal adjustments. Our understanding of the organisation enables us to understand and identify transactions or areas that appear to present a risk of fraud. None were detected.
Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concern or risk. None were identified.
The audit was conducted by a very experienced auditor who has a good knowledge of the client and no other assistance or support was required.
The charity is small, its activities are regular and consistent and are not complex and no special audit considerations apply, nor is external specialist assistance required.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the charity's trustees as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Armstrong & Co 4a Printing House Yard Chartered Accountants & Statutory Auditor Hackney Road London E2 7PR

Dated: 29 October 2021

Armstrong & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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FS RIGPA Fellowship

(A Charity governed by its Trust Deed, charity number 279315)

Statement of Financial Activities

for the year ended 31 December 2020

			2019
Unrestricted Funds	Restricted Funds	Endowment Funds	Total Funds
£ 33,363 67,288 8,971 361	£ 8,257 - - -	£ - - - -	£ 24,167 112,018 15,059 775
109,983	8,257	-	152,019
117,690	9,307	-	155,991
117,690	9,307	-	155,991
(7,707)	(1,050)	-	(3,972)
(7,707) 237,752	(1,050) 99,429	- 119,328	(3,972) 460,481
230,045	98,379	119,328	456,509

All incoming resources and resources expended are derived from continuing activities.

The accompanying accounting policies and notes form an integral part of these financial statements.

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(A Charity governed by its Trust Deed, charity number 279315)

RIGPA Fellowship

Statement of Financial Postion

as at 31 December 2020

Notes ixed assets: angible assets 11 otal fixed assets Current assets: Stocks 12 Debtors 13 Cash at bank and In hand 14 otal current assets 14 Net current assets/(liabilities) otal assets less current liabilities 15 otal net assets he funds of the charity: Endowment funds Restricted income funds 19 Unrestricted funds 15 otal charity funds 21 Creditors: amounts falling due after more than one ear Creditors: amounts falling due within one year	£ £ £ £ 297,946 307,987 297,946 307,987 2,883 2,996 3,857 21,245 196,291 157,214 203,031 181,455 18,815 32,933 184,216 148,522 482,162 456,509 34,410 - 447,752 456,509 119,328 119,328 98,379 99,429 230,045 237,752 447,752 456,509 31 December 2020 31 December 2019	£ £ £ £ 297,946 307,987 297,946 307,987 2,883 2,996 3,857 21,245 196,291 157,214 203,031 181,455 18,815 32,933 184,216 148,522 482,162 456,509 34,410 - 447,752 456,509 119,328 119,328 98,379 99,429 230,045 237,752 447,752 456,509 31 December 2020 31 December 2019
	£ 2,883 3,857 196,291	£ 307,987
		307,987 148,522
	203,031 18,815

		456,509 -
		456,509 119,328 99,429 237,752
		456,509

The financial statements were approved by the Board of Trustees on 29 October 2021 and signed on its behalf by:

Gregory Miller Burne Chair of Trustees

The notes on pages 14 to 21 form part of these accounts.

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(A Charity governed by its Trust Deed, charity number 279315)

RIGPA Fellowship

Statement of Cash Flows

for the year ended 31 December 2020

Notes Cash flows from operating activities: Net cash provided by/(used in) operating activities 1 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of property, plant and equipment Net cash provided by/(used in) investing activities Cash flows from financing activities: Cash inflows from new borrowing Net cash provided by/(used in) financiang activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period 2 Notes to the Cash Flow Statement 1) Adjustments for: Depreciation charges Dividends, interest and rents from investments (Increase)/decrease in stocks and work in progress (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities 2) Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents Reconciliation of net income/(expenditure) to net cash flow from operating activities Net income/(expenditure) for the reporting period (as per the statement of financial activities)	2020 £ 1,549 361 (833) (472) 38,000 38,000 39,077 157,214 196,291 2020 £ (8,757) 10,874 (361) 113 17,388 (17,708) 1,549 2020 £ 196,291 196,291	2019 £ 374
		775 (1,555)
		(780)
		-
		-
		(406) 157,620
		157,214 2019 £ (3,972) 11,612 (775) 603 3,961 (11,059)
		374
		2019 £ 157,214
		157,214

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(A Charity governed by its Trust Deed, charity number 279315)

RIGPA Fellowship

Accounting Policies

for the year ended 31 December 2020

Basis of preparation

The financial statements have been prepared in accordance with:

a) Applicable UK accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)'.
b) 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 2015) - (Charities SORP FRS 102);
c) the Charities Act 2011.

Public benefit entity

The charity meets the defination of a public benefit entity under FRS 102.

Going concern

The charity's income is mainly derived from self-generated sources such as memberships, retreats and courses, donations etc. The trustees consider that there are no material uncertainties about the demand for, and the charity's ability to continue to provide, these services, and accordingly, the accounts have been prepared on a going concern basis.

Income recognition

Donations and subscriptions - are included in full when received. -
Revenue grants are credited to incoming resources on the earlier of when they are received or when they are due. If they relate to a specified future period they are deferred.
Course and retreat income - is recognised in the year the course or retreat takes place. -
Investments, covenants and are recognised in the year in which they are received. material/publication sales

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.

Trustees. These include grants payable, governance costs and an apportionment of support costs.

grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Rentals under operating leases are charged as incurred over the term of the lease.

Costs are allocated directly to projects where they can be identified as relating solely to that project. Other costs are allocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

Endowment funds

Endowment funds are restricted funds which are capital in nature. Permanent endowments exist where there is no power to convert the capital into income. The funds can reduce where there are decreases in value, either by losses or depreciation, of assets represented by the funds.

Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

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RIGPA Fellowship

(A Charity governed by its Trust Deed, charity number 279315)

Accounting Policies

for the year ended 31 December 2020

Designated Funds

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Buildings - 2% on cost Computer equipment - 10% - 25% on cost Furniture & fixtures - 15% on cost

Items of equipment are only capitalised where the purchase price exceeds £250.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2 Net outgoing resources Net outgoing resources are stated after charging: Auditors fees - audit services Auditors fees - other services Depreciation - owned assets Trustees' emoluments	2020 £ 5,040 1,920 10,874 -	2019 £ 5,040 1,920 11,612 -

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

APB Ethical Standard - Provisions available for Audits of Small Entities

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to provide advice relating to statutory and regulatory compliance.

Income from donations and legacies Appeals & donations Gift Aid recovered Grants	Unrestricted £ 8,143 220 25,000 33,363	Restricted £ - - 8,257 8,257	2020 Total £ 8,143 220 33,257 41,620	2019 Total £ 24,167 - -
				24,167

3 Income from donations and legacies

Income from charitable activities Retreat & practice fees Membership Shop sales Sundry income	Unrestricted £ 1,648 65,324 116 200 67,288	Restricted £ - - - - -	2020 Total £ 1,648 65,324 116 200 67,288	2019 Total £ 35,923 73,045 3,050 -
				112,018

4 Income from charitable activities

Income from other trading activities Rent receivable Income from investments Interest received	Unrestricted £ 8,971 8,971 Unrestricted £ 361 361	Restricted £ - - Restricted £ - -	2020 Total £ 8,971 8,971 2020 Total £ 361 361	2019 Total £ 15,059
				15,059 2019 Total £ 775
				775

5 Income from other trading activities
6 Income from investments

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

Notes to the Accounts for the year ended 31 December 2020
7 Expenditure by charitable type Direct project costs Human Resources Direct costs £ £ £ Retreat & courses - - 7,699 Membership - - 370 Sales - - 83 Donations - - 357 Shrine/Library - - 157 Raising funds - - 84 Governance costs (see note 9) - - - - - 8,750 8 Expenditure by charitable activities Unrestricted £ Retreat & courses 66,936 Membership 15,837 Sales 3,563 Donations 14,869 Shrine/Library 1,124 Raising funds 3,595 Governance costs (see note 9) 11,766 117,690 9 Governance costs Unrestricted £ Auditors fees - audit services 5,040 Auditors fees - other services 1,920 Trustee meetings & expenses 25 Legal & professional fees 4,781 11,766 10 Staff costs Staff salaries Staff social security Staff pensions Employees paid in excess of £60,000 during the current year and previous year: Average number of employees during the year was:	Support costs £ 67,494 15,467 3,480 14,512 967 4,561 11,766 118,247 Restricted £ 8,257 - - - - 1,050 - 9,307 Restricted £ - - - - -	2020 Total £ 75,193 15,837 3,563 14,869 1,124 4,645 11,766 126,997 2020 Total £ 75,193 15,837 3,563 14,869 1,124 4,645 11,766 126,997 2020 Total £ 5,040 1,920 25 4,781 11,766 2020 £ 58,499 1,235 826 60,560 2 None	2019 Total £ 95,787 23,165 5,212 6,234 1,543 5,258 18,792
			155,991 2019 Total £ 95,787 23,165 5,212 6,234 1,543 5,258 18,792
			155,991 2019 Total £ 5,040 1,920 105 11,726
			18,792 2019 £ 61,425 1,063 928
			63,415 3 None

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

11 Tangible fixed assets Tangible 1 £ Cost As at 1 January 2020 - Additions - As at 31 December 2020 - Depreciation As at 1 January 2020 - Charge for the year - As at 31 December 2020 - Net book value As at 31 December 2020 - As at 31 December 2019 - 12 Stocks Stock 13 Debtors: amounts falling due within one year Operating debtors Other debtors Prepayments 14 Creditors: amounts falling due within one year Operating creditors Credit card Other creditors PAYE & NIC Pensions liability Staff salaries Accruals Deferred income Bounce Back loan 15 Creditors: amounts falling due after one year Bounce Back loan 16 Maturity of debt Amount falling due: In one year or less Between one and two years Between two and five years	Freehold Land £ 105,280 - 105,280 - - - 105,280 105,280	Freehold Buildings £ 359,948 - 359,948 167,188 7,199 174,387 185,561 192,760	Computer equipment £ 83,139 558 83,697 76,336 2,657 78,993 4,704 6,803	Furniture & fixtures £ 182,340 275 182,615 179,196 1,018 180,214 2,401 3,144 2020 £ 2,883 2,883 2020 £ - - 3,857 3,857 2020 £ 7,858 - - 145 25 (113) 5,043 2,267 3,590 18,815 2020 £ 34,410 34,410 2020 £ 3,590 7,316 27,094 38,000	Total £ 730,707 833
					731,540 422,720 10,874
					433,594 297,946 307,987 2019 £ 2,996
					2,996 2019 £ 1,844 13,504 5,897
					21,245 2019 £ 21,787 234 179 988 238 - 6,959 2,548 -
					32,933 2019 £ -
					- 2019 £ - - -
					-

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

17 18 19 20	The funds of the charity: current year Restricted funds Endowment funds Restricted income funds Total restricted funds Unrestricted funds General funds The funds of the charity: prior year Restricted funds Endowment funds Restricted income funds Total restricted funds Unrestricted funds General funds Restricted funds: current year Birmingham Centre Appeal Retreat Assistance Fund Prayer Sponsorship Spiritual Care Scholarship Fund (Gyudzin) UK National Projects London Building Appeal Vase Project Coronovirus Job Retention Scheme (CJRS) Donations made to visiting teachers Restricted funds: prior year Birmingham Centre Appeal Retreat Assistance Fund Prayer Sponsorship Spiritual Care Scholarship Fund (Gyudzin) UK National Projects London Building Appeal Vase Project Donations made to visiting teachers	Opening balance £ 119,328 99,429 218,757 237,752 456,509 Opening balance £ 119,328 98,589 217,917 242,564 460,481 Opening balance £ 1,461 895 5,974 8,567 5,605 64,310 11,844 65 - 708 99,429 Opening balance £ 1,461 895 5,974 8,435 5,605 64,310 11,844 65 - 98,589	Resources arising £ - 8,257 8,257 109,983 118,240 Resources arising £ - 3,195 3,195 148,824 152,019 Incoming resources £ - - - - - - - - 8,257 - 8,257 Incoming resources £ - - - 132 - - - - 3,063 3,195	Resources utilised £ - (9,307) (9,307) (117,690) (126,997) Resources utilised £ - (2,355) (2,355) (153,636) (155,991) Resources expended £ - - - - - - 1,050 - 8,257 - 9,307 Resources expended £ - - - - - - - - 2,355 2,355	Other movements £ - - - - - Other movements £ - - - - - Transfers & gains/(losses) £ - - - - - - - - - - - Transfers & gains/(losses) £ - - - - - - - - - -	Closing balance £ 119,328 98,379
						217,707
						230,045
						447,752 Closing balance £ 119,328 99,429
						218,757
						237,752
						456,509 Closing balance £ 1,461 895 5,974 8,567 5,605 64,310 10,794 65 - 708
						98,379 Closing balance £ 1,461 895 5,974 8,567 5,605 64,310 11,844 65 708
						99,429

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

Birmingham Centre Appeal	Fund to repair and renovate the Birmingham Centre.
Retreat Assistance Fund	Fund collected to provide financial support for Buddhist practioners to attend Rigpa Retreat in the UK. The costs are borne by RIGPA and an amount is transferred each year to cover the costs of successful applications for assistance.
Prayer Sponsorship	Fund collected worldwide by National Rigpa, for sponsored prayers. Funds to be transferred to Rigpa International.
Spiritual Care	This fund was an outreach program for Rigpa UK.
Scholarship Fund (Gyudzin)	Fund to assist Buddhist practioners to attend a long retreat. Funds to be transferred to Rigpa International.
UK National Projects	Fund collected for all major improvement and development to Rigpa UK centres.
London Building Appeal	Fund to repair and renovate the London Centre.
Vase Project	Fund collected to cover shipping cost for the Vase project.
Coronovirus Job Retention Scheme (CJRS)	The CJRS was introduced to help employers who cannot maintain their current workforce because their operations are affected by the COVID-19 outbreak. The amount relates to the furlough claims made to HMRC during the year. All the amounts received from the claims have been paid to the employees who the claims relate to.
Donations made to visiting teachers	These are the restricted funds set up and paid to the visiting teachers' chosen registered charities.

21 Net assets attributable to funds: current year Tangible fixed assets Current assets Current liabilities Long term liabilities Net assets represented by funds	General funds 178,618 104,652 (18,815) (34,410) 230,045	Designated funds £ - - - - -	Restricted funds £ - 98,379 - - 98,379	Endowment funds £ 119,328 - - - 119,328	Total £ 297,946 203,031 (18,815) (34,410)
					447,752

22 Net assets attributable to funds: prior year Tangible fixed assets Current assets Current liabilities Net assets represented by funds	General funds 188,659 82,026 (32,933) 237,752	Designated funds £ - - - -	Restricted funds £ - 99,429 - 99,429	Endowment funds £ 119,328 - - 119,328	Total £ 307,987 181,455 (32,933)
					456,509

23 Taxation

The trust is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

24 Post balance sheet events

There were no significant post balance sheet events.

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(A Charity governed by its Trust Deed, charity number 279315)

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2020

25 Pension commitments

The charity contributes to employees defined contribution stakeholder pension schemes. The assets of the schemes are held separately from those of the charity in an independently administered fund.

The unpaid contributions outstanding at the year end were:

	2020		2019
£	25	£	238

26 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2020 nor at 31 December 2019.

27 Related parties

There were no disclosable related party transactions during the year.

28 Transactions with trustees

During the year the charity either reimbursed to or paid on behalf of Mary Deeks amounts totalling £Nil (2019: £77) for travel expenses incurred on behalf of the charity.

29 Gifts in kind and volunteers

During the year the charity benefited from unpaid work performed by volunteers.

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