2022-12-31-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 2022

AT RIGPA Fellowship

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

Index to the Financial Statements for the year ended 31 December 2022

	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

Page 2

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

Charity Information for the year ended 31 December 2022

Status:	RIGPA Fellowship is an unincorporated trust, constituted under a Trust Deed dated 11	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	- Resigned 8 December 2022
	Jonathan Hayward	- Appointed 8 December 2022
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

Page 3

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

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2022

The Trustees of RIGPA Fellowship present their report together with the financial statements for the year ended 31 December 2022.

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 (retired 8th December 2022).
Daniel Amechi Nwume.
- Jonathan Hayward (appointed 8th December 2022).
The trustees held three formal trustee meetings during the year and four 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.

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.

Page 4

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

Trustees' Report

for the year ended 31 December 2022

2.3 The Charity's strategies

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

Following the management team being made 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 for Sangha members
Monthly	AEP Monthly gatherings
	These gatherings for Sangha members continued online each month.
Monthly	Cuppa and Connect
	These monthly gatherings were an opportunity for Sangha members to get together, have a friendly chat and practice together.
Monthly	Monthly practices-tsok days & Riwo Sangcho + Zabtik Drolchok
	Instructors held Tsok practice at the centre and online via Zoom.
Monthly	Dzogchen Mandala Study Days
	These gatherings for Dzogchen Mandala students continued online each month.
July 2022	Online practice for Mayumla
	This online practice was held over 6 weeks in Zoom.
	IN PERSON & ONLINE WEEKEND SANGHA COMMUNITY EVENTS
June 2022	RUK retreat
	This was a weekend of practice and community events for the Sangha.
	PUBLIC EVENTS/SESSIONS
Spring 2022	Meditation Toolkit- 7 weeks
	This was the second part of this free online course for beginners.

Page 5

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

Trustees' Report

for the year ended 31 December 2022

June -December 2022	Drop-in meditation sessions-online
	These free weekly sessions take place once a week online for attendees of the drop-in meditation sessions and are also open to sangha.
December 2022	Drop-in meditation sessions in London
	Weekly drop-in meditation sessions began in London again mid-December.
November 5th and 6th 2022	Awakening true nature weekend retreat-hybrid event
	This weekend retreat took place over two full days. It was open to the public and sangha members who formed groups or were having difficulties were able to join via Zoom.
	PRACTICE EVENTS
March 12th 2022	Rigdzin Dupa Practice event with Palyul Centre
	This was a joint event between the Palyul Centre and Rigpa UK.

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 2022, £258 was raised from Visiting Teachers; bookings that were not refunded.
- In 2022, £10,512 was raised from donations.
In 2022 £18,797 was raised from renting out the flat and £0 (no income this year) was raised from renting out the shrine room.
£1,320 Assets (speakers A/V equipment etc.)

Expenditure

How expenditure has supported the key objectives of the charity.

£2,462 was spent on the building for general repairs and renewals in 2022.
£0 was spent on Marketing in between January and December 2022.
£6,797 was spent on Safeguarding in 2022.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 12 to the accounts.

Page 6

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

AT RIGPA Fellowship

Trustees' Report

for the year ended 31 December 2022

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 2022, the value held in general reserves was £277,271. The result of the Charity's investment in COIF saw interest for the year 2022 totalling £1,471.

Concluding Comments

Rigpa UK is an independently governed charity and does not contribute tithe payments to any international Rigpa entity. We have made payments to Lerab Ling totalling £9,857 for Losar sponsorship, and a restricted donation. 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 2022 and beyond

The current financial climate still presents a challenge, and careful financial monitoring during the coming years. By early 2024 the Trustees intend to employ key staff to manage and redevelop the London Centre, with the aim of broadening it’s reach and designing a programme of courses and events aimed at supporting it’s long term students but also attracting a new audience and student body.

Income generation from these new courses, plus venue hire, and the development of the first floor of the building are expected to generate significant, sustainable income streams in future and increase the scope of our public benefit. Partly due to the receipt of a sizeable legacy in 2023, the Trustees have made the decision to employ key staff at this point to manage this new initiative. An accounting deficit for the y/e 2024 is anticipated, as it will take some time for the income streams to become established. However, with healthy current reserves, Trustees believe this investment is the best strategy for the future of the charity.

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

Much of the charity’s activity continues to be conducted online, and in future we plan to generate income through the further development and running of online and in person 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 plan to complete a final report for the UK Charity commission, including updated policies in Q1 of 2024.

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 26 October 2023 and signed on its behalf by:

Gregory Miller Burne Chair of Trustees

Page 7

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

Statement of Trustees' Responsibilities for the year ended 31 December 2022

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.

Page 8

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 2022 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 2022 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.

Page 9

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: 26 October 2023

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.

Page 10

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

FS RIGPA Fellowship

Statement of Financial Activities for the year ended 31 December 2022


Unrestricted ~~Funds~~	Restricted ~~Funds~~	Endowment ~~Funds~~
£ 10,512 65,671 20,049 1,471	£ - - - -	£ - - - -
97,703	-	-
1,590 77,050	- 3,360	- -
78,640	3,360	-
19,063	(3,360)	-
19,063 258,208	(3,360) 98,066	- 119,328
277,271	94,706	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.

Page 11

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

RIGPA Fellowship

Statement of Financial Postion as at 31 December 2022

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	£ £ £ £ 278,261 287,395 278,261 287,395 2,750 2,750 30,935 31,210 234,808 209,807 268,493 243,767 35,831 28,430 232,662 215,337 510,923 502,732 19,618 27,130 491,305 475,602 119,328 119,328 94,706 98,066 277,271 258,208 491,305 475,602 31 December 2022 31 December 2021	£ £ £ £ 278,261 287,395 278,261 287,395 2,750 2,750 30,935 31,210 234,808 209,807 268,493 243,767 35,831 28,430 232,662 215,337 510,923 502,732 19,618 27,130 491,305 475,602 119,328 119,328 94,706 98,066 277,271 258,208 491,305 475,602 31 December 2022 31 December 2021
	£ 2,750 30,935 234,808 268,493 35,831	£ 287,395
		287,395 215,337
		502,732 27,130
		475,602
		119,328 98,066 258,208
		475,602

The financial statements were approved by the Board of Trustees on 26 October 2023 and signed on its behalf by:

Gregory Miller Burne Chair of Trustees

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

Page 12

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

RIGPA Fellowship

Statement of Cash Flows for the year ended 31 December 2022

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 Net cash provided by/(used in) investing activities Cash flows from financing activities: Repayments of 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)	2022 £ 30,857 1,471 1,471 (7,327) (7,327) 25,001 209,807 234,808 2022 £ 15,703 9,134 (1,471) - 275 7,216 30,857 2022 £ 234,808 234,808	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

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

Accounting Policies

for the year ended 31 December 2022

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 2022

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.

Page 15

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

for the year ended 31 December 2022

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	2022 £ 5,040 2,190 9,134 -	2021 £ 5,040 1,920 10,551
		-

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.

3 Income from donations and legacies Appeals & donations Gift Aid recovered 4 Income from charitable activities Retreat & practice fees Membership Shop sales	Unrestricted £ 5,187 5,325 10,512 Unrestricted £ 6,679 56,919 2,073 65,671	Restricted £ - - - Restricted £ - - - -	2022 Total £ 5,187 5,325 10,512 2022 Total £ 6,679 56,919 2,073 65,671	2021 Total £ 1,096 21,312
				22,408
				2021 Total £ - 55,103 192
				55,295

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 £ 20,049 20,049 Unrestricted £ 1,471 1,471 Unrestricted £ 1,590 1,590	Restricted £ - - Restricted £ - - Restricted £ - -	2022 Total £ 20,049 20,049 2022 Total £ 1,471 1,471 2022 Total £ 1,590 1,590	2021 Total £ 19,336
				19,336
				2021 Total £ 23
				23
				2021 Total £ 1,508
				1,508

Page 16

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

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2022

8 Expenditure by charitable type project costs Human Resources Direct costs £ £ £ Retreat & courses - - 1,154 Membership - - - Sales - - - Donations - - 8,959 Shrine/Library - - 2,355 Raising funds - - - Governance costs (see note 10) - - - - - 12,468 9 Expenditure by charitable activities Unrestricted £ Tithe (8,978) Retreat & courses 32,296 Membership 6,797 Sales 1,529 Donations 19,211 Shrine/Library 2,780 Raising funds 1,543 Governance costs (see note 10) 21,872 77,050 10 Governance costs Unrestricted £ Auditors fees - audit services 5,040 Auditors fees - other services - Trustee meetings & expenses 76 Legal & professional fees 16,756 21,872 11 Staff costs Staff salaries Employees paid in excess of £60,000 during the current year and previous year: Average number of employees during the year was:	Support costs £ 34,502 6,797 1,529 1,274 425 1,543 21,872 67,942 Restricted £ - 3,360 - - - - - - 3,360 Restricted £ - - - - -	2022 Total £ 35,656 6,797 1,529 10,233 2,780 1,543 21,872 80,410 2022 Total £ (8,978) 35,656 6,797 1,529 19,211 2,780 1,543 21,872 80,410 2022 Total £ 5,040 - 76 16,756 21,872 2022 £ 4,260 4,260 1 None	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

Page 17

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

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2022

12 Tangible fixed assets Tangible 1 £ Cost As at 1 January 2022 - As at 31 December 2022 - Depreciation As at 1 January 2022 - Charge for the year - As at 31 December 2022 - Net book value As at 31 December 2022 - As at 31 December 2021 - 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 Wise Sterling Bank Wise Dollar Bank Paypal Cash in hand 16 Creditors: amounts falling due within one year Operating creditors Other creditors 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 £ 359,948 359,948 181,586 7,199 188,785 171,163 178,362	Computer equipment £ 83,697 83,697 81,468 1,315 82,783 914 2,229	Furniture & fixtures £ 182,615 182,615 181,091 620 181,711 904 1,524 2022 £ 2,750 2,750 2022 £ 37 4,262 26,636 30,935 2022 £ 1,094 96,833 130,702 232 4,144 1,134 669 234,808 2022 £ 10,532 100 16,027 1,672 7,500 35,831 2022 £ 19,618 19,618	Total £ 731,540
					731,540
					444,145 9,134
					453,279
					278,261
					287,395
					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

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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 2022

18 Maturity of debt

18 19 20 21 22	Maturity of debt Amount falling due: In one year or less Between one and two years Between two and five years 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 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 98,066 217,394 258,208 475,602 Opening balance £ 119,328 98,379 217,707 230,045 447,752 Opening balance £ 1,461 895 5,974 8,567 5,605 64,310 10,481 65 708 98,066 Opening balance £ 1,461 895 5,974 8,567 5,605 64,310 10,794 65 708 98,379	Resources arising £ - - - 97,703 97,703 Resources arising £ - - - 97,062 97,062 Incoming resources £ - - - - - - - - - - Incoming resources £ - - - - - - - - - -	Resources utilised £ - (3,360) (3,360) (78,640) (82,000) Resources utilised £ - (313) (313) (68,899) (69,212) Resources expended £ - - 898 - - - 2,462 - - 3,360 Resources expended £ - - - - - - 313 - - 313	2022 £ 7,500 7,690 11,928 27,118 Other movements £ - - - - - Other movements £ - - - - - Transfers & gains/(losses) £ - - - - - - - - - - Transfers & gains/(losses) £ - - - - - - - - - -	2021 £ 7,315 7,500 19,630
						34,445
						Closing balance £ 119,328 94,706
						214,034
						277,271
						491,305
						Closing balance £ 119,328 98,066
						217,394
						258,208
						475,602
						Closing balance £ 1,461 895 5,076 8,567 5,605 64,310 8,019 65 708
						94,706
						Closing balance £ 1,461 895 5,974 8,567 5,605 64,310 10,481 65 708
						98,066

Page 19

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

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2022

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 158,933 173,787 (35,831) (19,618) 277,271	Designated funds £ - - - - -	Restricted funds £ - 94,706 - - 94,706	Endowment funds Total £ £ 119,328 278,261 - 268,493 - (35,831) - (19,618) 119,328 491,305

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 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

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:

2022 2021 - £ -

Page 20

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

F RIGPA Fellowship

Notes to the Accounts

for the year ended 31 December 2022

28 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2022 nor at 31 December 2021.

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.

Page 21