2021-12-31-accounts - Rigpa Fellowship

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Charity number: 279315

RIGPA Fellowship

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

Financial Statements

and Trustees' Report

for the year ended 31 December 2021

Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

	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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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

RIGPA Fellowship is an unincorporated trust, constituted under a Trust Deed dated 11 November 1979 which established the objects and powers of the charity.


Status:	RIGPA Fellowship is an unincorporated tru
	November 1979 which established the obj
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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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

The Trustees of RIGPA Fellowship present their report together with the financial statements for the year ended 31 December 2021.

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 one formal Trustee Meeting during the year and 6 Trustee working group meetings (TWG) which dealt with operational issues.

1.2 Management Team

The charity was managed by the Trustees.

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 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;
b) the maintenance and development of a coordinating office for the activities of the Fellowship in the UK and its areas of beneficial interest;
c) to initiate and provide a range of on-line events, courses and study for our benefactors.

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 impact on the Charity’s ability to deliver services as normal. All centres were risk assessed for Covid-19 and due to social 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

To maintain the charity’s programme of courses for students.
To hold events, including online events.
To hold retreats.
To maintain group practice sessions.
To stabilise our financial situation while conducing a review of governance.

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

Trustees' Report

for the year ended 31 December 2021

2.3 The Charity's strategies

The Charity’s strategies continued to be defined by its dependence on funding from its members.

Following the Trustee making the management team redundant due to Covid related loss of income, the Trustees formed an interim management team, supported by the activity of a large number of volunteers.

2.4 Significant Activities

DATES	ONLINE PROGRAMME using Zoom for Rigpa UK Sangha members
Monthly	All Encompassing Path Monthly gatherings
	These gatherings for Sangha members continued online each month. Average attendance each month was 30 people.
Monthly	Cuppa and Connect
	These monthly 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.
Weekly until August 2021	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.
Fortnightly	Practices
	Practices were held online from September to December 2021. Typically up to 10 people were at each practice.
Monthly	Dzogchen Mandala Study Days
	These gatherings for Dzogchen Mandala students continued online each month. Average attendance each month was 30 people.
Monthly until August 2021	Meditation half days on Saturdays (Nyinthun)
	These were held on 5 Saturdays in the year, with attendance of between 5 and 15 Sangha members. From October they were offered in person at the centre or online.
Every 2 months	Sangha Days
	These gatherings were held every two months online. Average attendance 30-40 people.
	ONLINE WEEKEND SANGHA COMMUNITY EVENTS using Zoom
June 2021	Vajrasattva retreat

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

Trustees' Report

for the year ended 31 December 2021

	This was a weekend of practice for the Sangha. There were approx 50 attendees.
	PUBLIC EVENTS
Autumn 2021	Meditation Toolkit- 7 weeks
	This was the first part of a free online course for beginners. Average no. of attendees each week - between 8 and 15.

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 Trustees).

3.2 Finance

Activities during the year:

Fundraising

In 2021, £0 was raised from Visiting Teachers; bookings that were not refunded (this was in 2020, zero this year).
- In 2021, £1,096 was raised from donations.
In 2021 £19,336 was raised from renting out the flat and £0 was raised from renting out the shrine room

Expenditure

How expenditure has supported the key objectives of the charity.

£846 was spent on the building for general repairs and renewals in 2021.
£0 was spent on Marketing in between January and March 2021.
£8,440 was spent on Safeguarding.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 12 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 2021, the value held in general reserves was £258,208. The result of the Charity's investment in COIF saw interest for the year 2021 totalling £23.

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) Future Outlook: Plans for 2021 and beyond

Due to the ongoing situation with Covid 19, Rigpa centres remained closed for in-person gatherings for much of the year. Visiting teacher and physical events were not possible, so we developed a programme of online events and courses which have proven very popular. Having transitioned to a volunteer run organisation and renting out part of the charity’s property, we have stabilised our financial situation. The Trustees made progress with a governance review, involving key stakeholders which we hope to conclud by Spring 2022 and will establish the future vision for the charity.

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

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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 2021

General donations, membership and student subscriptions continue to be major income generators. Plans are being considered for generating further income from development of more areas of the charity's property, potentially for residential and commercial rental, events and venue hire.

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

In 2021 much of the charity’s activity was conducted online, and in 2022 plans are in place to generate income through the further development and running of online courses.

Following the UK Charity Commission's closing of their statutory inquiry into the charity, which concluded in November 2020, the charity has continued in a dialogue with them when further questions have arisen. The Trustees have been conducting a process of due diligence, to determine the future direction of the charity.

The main focuses of the charity’s activities are:

To host visiting lamas and teachers and enabling teaching events to take place in person and on-line.
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.

The charity’s reserves are indicated in the attached accounts, and remained at the year-end at a proportion deemed prudent by the 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 31 October 2022 and signed on its behalf by:

Gregory Miller Burne Chair of Trustees

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

Statement of Trustees' Responsibilities for the year ended 31 December 2021

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

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 2021 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:

give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and 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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AT RIGPA Fellowship (A Charity governed by its Trust Deed, charity number 279315)

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

Chartered Accountants & Statutory Auditor

4a Printing House Yard Hackney Road London E2 7PR

Dated: 31 October 2022

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

FS RIGPA Fellowship

Statement of Financial Activities for the year ended 31 December 2021


Unrestricted ~~Funds~~	Restricted ~~Funds~~	Endowment ~~Funds~~
£ 22,408 55,295 19,336 23	£ - - - -	£ - - - -
97,062	-	-
1,508 67,391	- 313	- -
68,899	313	-
28,163	(313)	-
28,163 230,045	(313) 98,379	- 119,328
258,208	98,066	119,328

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 2021

Notes Fixed assets: Tangible assets 12 Total fixed assets Current assets: Stocks 13 Debtors 14 Cash at bank and In hand 15 Total current assets 16 Net current assets/(liabilities) Total assets less current liabilities 17 Total net assets The funds of the charity: Endowment funds Restricted income funds 21 Unrestricted funds 15 Total charity funds 23 Creditors: amounts falling due after more than one year Creditors: amounts falling due within one year	£ £ £ £ 287,395 297,946 287,395 297,946 2,750 2,883 31,210 3,857 209,807 196,291 243,767 203,031 28,430 18,815 215,337 184,216 502,732 482,162 27,130 34,410 475,602 447,752 119,328 119,328 98,066 98,379 258,208 230,045 475,602 447,752 31 December 2021 31 December 2020	£ £ £ £ 287,395 297,946 287,395 297,946 2,750 2,883 31,210 3,857 209,807 196,291 243,767 203,031 28,430 18,815 215,337 184,216 502,732 482,162 27,130 34,410 475,602 447,752 119,328 119,328 98,066 98,379 258,208 230,045 475,602 447,752 31 December 2021 31 December 2020
	£ 2,750 31,210 209,807 243,767 28,430	£ 297,946
		297,946 184,216
		482,162 34,410
		447,752
		119,328 98,379 230,045
		447,752

The financial statements were approved by the Board of Trustees on 31 October 2022 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 2021

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: Repayments of borrowing 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)	2021 £ 17,048 23 - 23 (3,555) - (3,555) 13,516 196,291 209,807 2021 £ 27,850 10,551 (23) 133 (27,353) 5,890 17,048 2021 £ 209,807 209,807	2020 £ 1,551
		361 (833)
		(472)
		- 38,000
		38,000
		39,079 157,212
		196,291
		2020 £ (8,757) 10,874 (361) 113 17,388 (17,708)
		1,551
		2020 £ 196,291
		196,291

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

Accounting Policies

for the year ended 31 December 2021

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.

Charitable expenditure includes those costs expended in fulfilling the charity’s principal objects, as outlined in the Report of the Trustees. These include grants payable, governance costs and an apportionment of support costs.

Grants payable are payments made to third parties in furtherance of the charity’s objects. In the case of an unconditional 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 2021

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)

for the year ended 31 December 2021

F RIGPA Fellowship

Notes to the Accounts

1 Incoming resources

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

2 Net incoming resources Net incoming resources are stated after charging: Auditors fees - audit services Auditors fees - other services Depreciation - owned assets Trustees' emoluments	2021 £ 5,040 2,190 10,551 -	2020 £ 5,040 1,920 10,874
		-

Trustees' emoluments

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 £ 1,096 21,312 - 22,408	Restricted £ - - - -	2021 2020 Total Total £ £ 1,096 8,143 21,312 220 - 33,257 22,408 41,620

3 Income from donations and legacies

Income from charitable activities Retreat & practice fees Membership Shop sales Sundry income	Unrestricted £ - 55,103 192 - 55,295	Restricted £ - - - - -	2021 2020 Total Total £ £ - 1,648 55,103 65,324 192 116 - 200 55,295 67,288

4 Income from charitable activities

5 Income from other trading activities Rent receivable 6 Income from investments Interest received 7 Expenditure on raising funds Agency management fees - flat rental	Unrestricted £ 19,336 19,336 Unrestricted £ 23 23 Unrestricted £ 1,508 1,508	Restricted £ - - Restricted £ - - Restricted £ - -	2021 Total £ 19,336 19,336 2021 Total £ 23 23 2021 Total £ 1,508 1,508	2020 Total £ 8,971
				8,971
				2020 Total £ 361
				361
				2020 Total £ -
				-

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

8 Expenditure by charitable type project costs Human Resources Direct costs £ £ £ Retreat & courses - - 2,580 Membership - - 240 Sales - - 54 Donations - - 45 Shrine/Library - - 4,310 Raising funds - - 55 Governance costs (see note 10) - - - - - 7,284 9 Expenditure by charitable activities Unrestricted £ Retreat & courses 38,703 Membership 4,351 Sales 979 Donations 816 Shrine/Library 4,567 Raising funds 988 Governance costs (see note 10) 16,987 67,391 10 Governance costs Unrestricted £ Auditors fees - audit services 5,040 Auditors fees - other services 2,190 Trustee meetings & expenses - Legal & professional fees 9,757 16,987 11 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 £ 36,436 4,111 925 771 257 933 16,987 60,420 Restricted £ 313 - - - - - - 313 Restricted £ - - - - -	2021 Total £ 39,016 4,351 979 816 4,567 988 16,987 67,704 2021 Total £ 39,016 4,351 979 816 4,567 988 16,987 67,704 2021 Total £ 5,040 2,190 - 9,757 16,987 2021 £ 5,160 - - 5,160 1 None	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

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

12 Tangible fixed assets Tangible 1 £ Cost As at 1 January 2021 - As at 31 December 2021 - Depreciation As at 1 January 2021 - Charge for the year - As at 31 December 2021 - Net book value As at 31 December 2021 - As at 31 December 2020 - 13 Stocks Stock 14 Debtors: amounts falling due within one year Other debtors Prepayments Accrued income 15 Bank and cash in hand RBS Current a/c RBS Deposit a/c COIF Deposit Account Paypal Cash in hand 16 Creditors: amounts falling due within one year Operating creditors PAYE & NIC Pensions liability Staff salaries Accruals Deferred income Bounce Back loan 17 Creditors: amounts falling due after one year Bounce Back loan	Freehold Land £ 105,280 105,280 - - - 105,280 105,280	Freehold Buildings £ 359,948 359,948 174,387 7,199 181,586 178,362 185,561	Computer equipment £ 83,697 83,697 78,993 2,475 81,468 2,229 4,704	Furniture & fixtures £ 182,615 182,615 180,214 877 181,091 1,524 2,401 2021 £ 2,750 2,750 2021 £ 37 3,966 27,207 31,210 2021 £ 1,082 78,081 129,440 402 802 209,807 2021 £ 7,414 - - - 9,762 3,939 7,315 28,430 2021 £ 27,130 27,130	Total £ 731,540
					731,540
					433,594 10,551
					444,145
					287,395
					297,946
					2020 £ 2,883
					2,883
					2020 £ - 3,857 -
					3,857
					2020 £ 1,051 62,860 129,424 2,472 484
					196,291
					2020 £ 7,858 145 25 (113) 5,043 2,267 3,590
					18,815
					2020 £ 34,410
					34,410

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

18 Maturity of debt

Maturity of debt Amount falling due: In one year or less Between one and two years Between two and five years	2021 2020 £ £ 7,315 3,590 7,500 7,316 19,630 27,094 34,445 38,000

The funds of the charity: current year Restricted funds Endowment funds Restricted income funds Total restricted funds Unrestricted funds General funds	Opening balance £ 119,328 98,379 217,707 230,045 447,752	Resources arising £ - - - 97,062 97,062	Resources utilised £ - (313) (313) (68,899) (69,212)	Other movements Closing balance £ £ - 119,328 - 98,066 - 217,394 - 258,208 - 475,602

19 The funds of the charity: current year

20	The funds of the charity: prior year Restricted funds Endowment funds Restricted income funds Total restricted funds Unrestricted funds General funds	Opening balance £ 119,328 99,429 218,757 237,752 456,509	Resources arising £ - 8,257 8,257 109,983 118,240	Resources utilised £ - (9,307) (9,307) (117,690) (126,997)	Other movements Closing balance £ £ - 119,328 - 98,379 - 217,707 - 230,045 - 447,752

21 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 Donations made to visiting teachers	Opening balance £ 1,461 895 5,974 8,567 5,605 64,310 10,794 65 708 98,379	Incoming resources £ - - - - - - - - - -	Resources expended £ - - - - - - 313 - - 313	Transfers & gains/(losses) Closing balance £ £ - 1,461 - 895 - 5,974 - 8,567 - 5,605 - 64,310 - 10,481 - 65 - 708 - 98,066

22 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 Coronovirus Job Retention Scheme (CJRS) Donations made to visiting teachers	Opening balance £ 1,461 895 5,974 8,567 5,605 64,310 11,844 65 - 708 99,429	Incoming resources £ - - - - - - - - 8,257 - 8,257	Resources expended £ - - - - - - 1,050 - 8,257 - 9,307	Transfers & gains/(losses) Closing balance £ £ - 1,461 - 895 - 5,974 - 8,567 - 5,605 - 64,310 - 10,794 - 65 - - - 708 - 98,379

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

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.

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 outreachprogram 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 shippingcost for the Vaseproject.
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.

23 Net assets attributable to funds: current year Tangible fixed assets Current assets Current liabilities Long term liabilities Net assets represented by funds	General funds 168,067 145,701 (28,430) (27,130) 258,208	Designated funds £ - - - - -	Restricted funds £ - 98,066 - - 98,066	Endowment funds Total £ £ 119,328 287,395 - 243,767 - (28,430) - (27,130) 119,328 475,602

24 Net assets attributable to funds: prior 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 Total £ £ 119,328 297,946 - 203,031 - (18,815) - (34,410) 119,328 447,752

25 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.

26 Post balance sheet events

There were no significant post balance sheet events.

27 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:

2021 2020 - £ 25

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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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 2021

28 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2021 nor at 31 December 2020.

29 Related parties

There were no disclosable related party transactions during the year.

30 Gifts in kind and volunteers

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

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Document Ref: RCPCF-KAKCZ-PRGAE-NVY8I

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