_**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**
|**Notes**
**Income and endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
9
**Total expenditure**
**Net income/(expenditure) for the year**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
19
**Total funds carried forward**
19||||**2022**
**2021**
**Total Funds**
**Total Funds**
£
£
10,512
22,408
65,671
55,295
20,049
19,336
1,471
23
**97,703**
**97,062**
1,590
1,508
80,410
67,704
**82,000**
**69,212**
15,703
27,850
**15,703**
**27,850**
475,602
447,752
**491,305**
**475,602**|
|---|---|---|---|---|
||**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**|
Page 13
**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.
Page 14
**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|
Page 18
**(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