REGISTERED CHARITY NUMBER: 282717
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Thinley Rinchen Ling Trust
Thinley Rinchen Ling Trust
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
Thinley Rinchen Ling Trust
for the Year Ended 31 December 2024
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust is a charity and exists to advance the Sakyapa School of Buddhism and in particular the spiritual authority of Karma Thinley Rinpoche and Lama Jampa Thaye as masters of the Sakyapa school of Buddhism and heads of the Thinley Rinchen Ling Association of Sakyapa centres.
Significant activities
The Trust held its annual summer course at its retreat and teaching Centre in France (Sakya Changlochen Ling) which was attended by many people from the UK,elsewhere in Europe, the USA and Mexico.
Work was started on creating the foundations for a Stupa in the grounds of Changlochen.
Substantial repairs were carried out during the year including the replacement of air conditioning units, the laying of new gravel on the path leading down the hill and the commencement of repairs to the roof of the main part of the buildings.
Public benefit
The Trustees have considered the Charity Commission Guidance on Public Benefit in accordance with the Charities Act 2011.
In exercising the powers of the Trust and pursuing the objects of the charity, public benefit is accomplished by:
-
Providing a temple for the study and practice of the Sakya Buddhist teachings.
-
Providing retreat facilities for practitioners interested in enhancing their study and practice of Buddhist teachings through periods of solitary meditation and contemplation.
-
Promoting and providing teachings on the basic principles of the Buddhist teachings.
-
Establishing and supporting groups across Europe in order to deliver the preceding provision.
-
Presenting Buddhist textual teachings by lamas (qualified Buddhist teachers) for practitioners and other beneficiaries interested in learning about the Buddha's teachings.
In assessing the public benefit of the Trust's aims, there has been no report or evidence of detriment or harm flowing from the Trust carrying out its aims. The intended beneficiaries of the Trust's aims include:
(i) Practitioners of Sakya Buddhism. Such beneficiaries are drawn from a cross section of society, from around the U.K., Europe and the Americas.
(ii) The wider public, who benefit from the Trust's activities by having opportunities to attend the temples and to learn about Buddhism and/or practise meditation.
In general terms, the Trust's activities achieve public benefit as a result of practitioners' lifestyles and practices being in accordance with the ethics and values of Buddhism, thereby enriching the moral and spiritual welfare of society. The Trustees are satisfied that any charges for services or requests for regular payments, are reasonable and take into consideration each beneficiary's ability to pay. All events provided by the Trust offer a concessionary rate.
Grantmaking
During the year the Trust did not make any grants.
Volunteers
The charity depends entirely on volunteers to carry out its activities. The Board of Trustees would like to take this opportunity to thank all its supporters.
Page 1
Thinley Rinchen Ling Trust
for the Year Ended 31 December 2024
Report of the Trustees
ACHIEVEMENTS AND PERFORMANCE Charitable activities
The Trust continues to own its retreat centre in France, Sakya Changlochen Ling, which continues to provide facilities for retreats and Buddhist teachings in accordance with its objectives.
Once again, the annual two-week retreat at Sakya Changlochen Ling was held there in the summer, attracting many people from the UK, Europe and the Americas to learn more about the deeper Buddhist teachings and to join in retreat together.
The centre also continued to provide facilities for smaller group retreats and for individual retreats by people wanting to deepen their meditation practice.
FINANCIAL REVIEW
Financial position
As reflected in the charity's balance sheet, the Trust's financial position continues to be stable and secure.
Principal funding sources
The charity's principal funding sources in respect of day to day activities continue to be regular donations and income from the provision of courses and retreats. In respect of major expenditures, such as the purchase or improvement of property, the charity has relied on appeals to members, supplemented by borrowings from financial institutions to cover any shortfall on appeal funds raised.
During the year, the Trust received an extremely generous donation of £35,000. The Trustees would like to take the opportunity to thank the donor involved.
Reserves policy
As a matter of policy, the Trustees intend to hold the amount of unrestricted reserves held in cash and cash equivalents at the level of approximately 3 months' regular expenditure. The board considers the charity's exposure to the risk of any significant loss of income and to the risk of unforeseen expenditure, which cannot be mitigated by executive action, and on this basis will decide whether the amount of assets held as unrestricted cash reserves should be increased or decreased.
At the year end, the charity's available cash funds amounted to £92,125 (2023 - £61,547), being the total of cash-at-bank and cash-in-hand, as stated on page 7. The Trustees believe that the unrestricted cash funds are sufficient to meet the charity's day to day requirements. Included in these funds is money designated for the construction of a stupa, amounting to £21,345 (2023: £24,541).
Going concern
In the opinion of the Trustees the charity continues to be a going concern.
FUTURE PLANS
The Trust plans to build a stupa in the grounds of Sakya Changlochen Ling and, towards this end, it has set aside funds from a legacy and from some substantial donations, received in previous yeas.. An appeal will be raised in due course to assist with the balance required for this project. During the year work began on laying the foundations for the Stupa on the Trust's property.
The Trust will continue to organize teachings and retreats at Sakya Changlochen Ling, with the next summer course planned for August 2025.,
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The governing document is a trust deed dated 11th May 1981 as amended by an order of 15th June 2005, and by a scheme of 28th February 2006, as amended by a resolution dated 3rd October 2009.
Recruitment and appointment of new Trustees
The charity's Trustees and committee members are appointed by the Board of Trustees after due consideration being given to eligibility, personal competence, specialist skills and local availability.
Organisational structure
Overall control of the charity rests with the Board of Trustees. Day to day control of the charity's functions and finances are delegated to local administrators, appointed for their skills and competence.
Induction and training of new Trustees
New Trustees and committee members are inducted into the workings of the charity by the Board of Trustees.
Page 2
Thinley Rinchen Ling Trust
for the Year Ended 31 December 2024
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
A formal review of the charity's risk management processes is undertaken on an annual basis.
The Trust maintains a comprehensive register of risks, which is subject to regular review. Through the risk management processes established for the trust, the trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
282717
Principal address
121 Sommerville Road Bristol BS6 5BX
Trustees
Mr M A Lund Mr D J Armstrong Mr B J Golding Mr A M Gutmann Mr P Haddon Ms M B Moore Mr C S Rogers
Independent Examiner
Hannah Pettifer ACA OCL Accountancy 141 Englishcombe Lane Bath BA2 2EL
Approved by order of the board of trustees on 4 September 2025 and signed on its behalf by:
Mr D J Armstrong - Trustee
Page 3
Ind¢ endent Fxatninels Re Thirtlev Rinchen Lili Trust ort to the Trustees of Indeptrtdellt exsminer's report to the trustees of Thinley Rinchen Ling Trust I repon to the charity trustees oll my eXaMinlen of Iht accounts of Thinley Rinchert Ling Ttust (the Trn811 for ihe year ended 31 December 2024. Responsibilities aDd b#si$ of report As the ehariiy trustees of the Tt you ar¢ responsible for the preporation of the account5 in accordanc¢ with th¢ requirnets of th¢ Charities Act 2011 I'th¢ A¢t'}. I report in respect of rny examination of the Trust's accounts carried oui undei Section 145 of the Act and in carrying ou¢ My examination I have followed all applicable Dir¢ct10115 givell by the Charity Conls510n under Section 14515Xbl of the Act. Independent exwmiTrer's statement I havt completed my examination. l ¢onfirm that no materi8J tn#tt¢rs have ¢otne to tny attention in ¢onDtction with the examination giving rne cause to b¢li¢ve that in any maiertal respect.. accounting r¢¢oTd$ were not kept in respect of the Trust as r4uired by Section 130 of the Act. or the accounts do not accord with those r¢wrds,' or the account5 do not comply with the applicable requircmenls conceming the form and content of acco set out in the Charities (Accounts and R¢port51 Regulations 2008 other than any reqUirn¢t th&t th¢ accounts giv¢ a true and fair view which is not a matter considered as part of an independent examinaiion. I hav¢ no conc¢rn5 and have come across no other matters in contteciton with the examination to which attention should be dT8wn in thi5 report in order to enable a propcr und¢r5tsnding of the accounts to be reached. H8nnah PettifeT ACA OCL Account8D¢y 141 Ettglighcombe tane Bath BA2 2EL 4 September 2025 Page 4
Thinley Rinchen Ling Trust
Statement of Financial Activities
for the Year Ended 31 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 50,381 Charitable activities 4 Provision of courses 20,032 Investment income 3 4,221 Total 74,634 EXPENDITURE ON Charitable activities 5 Provision of courses 3,501 Buddhist Centre management 30,195 Total 33,696 NET INCOME 40,938 RECONCILIATION OF FUNDS Total funds brought forward 448,878 TOTAL FUNDS CARRIED FORWARD 489,816 |
31.12.24 31.12.23 Restricted Total Total funds funds funds £ £ £ - 50,381 16,692 - 20,032 23,120 - 4,221 732 - 74,634 40,544 - 3,501 3,377 - 30,195 21,848 - 33,696 25,225 - 40,938 15,319 - 448,878 433,559 - 489,816 448,878 |
31.12.24 31.12.23 Restricted Total Total funds funds funds £ £ £ - 50,381 16,692 - 20,032 23,120 - 4,221 732 - 74,634 40,544 - 3,501 3,377 - 30,195 21,848 - 33,696 25,225 - 40,938 15,319 - 448,878 433,559 - 489,816 448,878 |
|---|---|---|
| 40,544 | ||
| 3,377 21,848 |
||
| 25,225 | ||
| 15,319 433,559 |
||
| 448,878 |
The notes form part of these financial statements
Page 5
Thinley Rinchen Ling Trust
Balance Sheet
31 December 2024
| Notes FIXED ASSETS Tangible assets 9 Heritage assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 15 Unrestricted funds: Stupa fund General Fund TOTAL FUNDS |
Unrestricted funds £ 463,075 4,602 467,677 12,944 92,125 105,069 (11,378) 93,691 561,368 (71,552) 489,816 |
Restricted funds £ - - - - - - - - - - - |
31.12.24 Total funds £ 463,075 4,602 467,677 12,944 92,125 105,069 (11,378) 93,691 561,368 (71,552) 489,816 21,345 468,471 489,816 489,816 |
31.12.23 Total funds £ 461,061 4,602 465,663 11,358 61,547 72,905 (9,084) 63,821 529,484 (80,606) 448,878 24,541 424,337 448,878 448,878 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 4 September 2025 and were signed on its behalf by:
Mr C S Rogers - Trustee
The notes form part of these financial statements
Page 6
Thinley Rinchen Ling Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities Preparing their Accounts in Accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are recognised on receipt. Procedures are in place to ensure the completeness of income.
Catering income is accounted for on a cash received basis.
Legacies are accounted for once the charity is notified of its legal entitlement and the amount due.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include finance and governance costs which support the Trust's Buddhist centre management activities
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - not provided |
|---|---|
| Fixtures and fittings | - 15% on reducing balance |
| Motor vehicles | - 25% on reducing balance |
The Trust's land and buildings are not depreciated as the Trustees consider they are well maintained and in good repair and any resulting depreciation would be immaterial.
Heritage assets
Heritage assets which are non-monetary assets held for devotional purposes are recognised on the balance sheet and initially measured at cost when purchased or, if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated impairment losses. The artefacts are not depreciated as their value is considered to be in line with the original cost.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 7
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Donated goods, services or facilities
Donated goods, services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
In accordance with the Charities SORP (FRS 102), the general volunteer time of supporters is not recognised (refer to the Trustees' annual report for more information about their contribution).
Debtors
Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will normally result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. DONATIONS AND LEGACIES
3.
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Donations | 50,381 | 16,692 |
| INVESTMENT INCOME | ||
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Rents received | 2,315 | 515 |
| Deposit account interest | 1,906 | 217 |
| 4,221 | 732 |
continued...
Page 8
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
4. INCOME FROM CHARITABLE ACTIVITIES
| Activity Course fees Provision of courses 5. CHARITABLE ACTIVITIES COSTS Provision of courses Buddhist Centre management 6. SUPPORT COSTS Management £ Buddhist Centre management 22,507 The charity did not employ any paid staff. Support costs, included in the above, are as follows: Management Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Repairs and maintenance Motor and travel Finance Bank charges Exchange profit or loss Loan |
Finance £ 5,326 |
31.12.24 31.12.23 £ £ 20,032 23,120 Support Direct costs (see Costs note 6) Totals £ £ £ 3,501 - 3,501 - 30,195 30,195 3,501 30,195 33,696 Governance Other costs Totals £ £ £ 1,492 870 30,195 31.12.24 31.12.23 Buddhist Centre Total management activities £ £ 2,872 4,285 1,458 1,392 1,349 377 590 585 - 9 453 782 15,428 4,958 357 800 22,507 13,188 31.12.24 31.12.23 Buddhist Centre Total management activities £ £ 916 831 799 269 3,611 4,972 5,326 6,072 |
31.12.24 31.12.23 £ £ 20,032 23,120 Support Direct costs (see Costs note 6) Totals £ £ £ 3,501 - 3,501 - 30,195 30,195 3,501 30,195 33,696 Governance Other costs Totals £ £ £ 1,492 870 30,195 31.12.24 31.12.23 Buddhist Centre Total management activities £ £ 2,872 4,285 1,458 1,392 1,349 377 590 585 - 9 453 782 15,428 4,958 357 800 22,507 13,188 31.12.24 31.12.23 Buddhist Centre Total management activities £ £ 916 831 799 269 3,611 4,972 5,326 6,072 |
|---|---|---|---|
| 6,072 |
continued...
Page 9
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. SUPPORT COSTS - continued Other
| SUPPORT COSTS - continued Other |
||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| Buddhist | ||
| Centre | Total | |
| management | activities | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,492 | 1,718 |
| Governance costs | ||
| 31.12.24 | 31.12.23 | |
| Buddhist | ||
| Centre | Total | |
| management | activities | |
| £ | £ | |
| Independent examiner's fees | 870 | 870 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,692 Charitable activities Provision of courses 23,120 Investment income 732 Total 40,544 EXPENDITURE ON Charitable activities Provision of courses 3,377 Buddhist Centre management 21,848 Total 25,225 NET INCOME 15,319 RECONCILIATION OF FUNDS Total funds brought forward 433,559 TOTAL FUNDS CARRIED FORWARD 448,878 |
Restricted funds £ - - - - - - - - - - |
Total funds £ 16,692 23,120 732 |
|---|---|---|
| 40,544 | ||
| 3,377 21,848 |
||
| 25,225 | ||
| 15,319 433,559 |
||
| 448,878 |
continued...
Page 10
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 HERITAGE ASSETS |
COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 HERITAGE ASSETS |
Freehold property £ 451,715 3,196 454,911 - - - 454,911 451,715 |
Fixtures and fittings £ 29,373 310 29,683 20,460 1,384 21,844 7,839 8,913 |
Motor vehicles £ 3,242 - 3,242 2,809 108 2,917 325 433 |
Totals £ 484,330 3,506 487,836 23,269 1,492 24,761 463,075 461,061 |
|
|---|---|---|---|---|---|---|
| 10. | HERITAGE ASSETS | |||||
| COST AND NET BOOK VALUE | ||||||
| 31.12.2024 31.12.2023 |
||||||
| 4,602 4,602 |
| 10. | HERITAGE ASSETS |
|---|---|
| COST AND NET BOOK VALUE |
Heritage assets consist of religious artefacts including statues and paintings which are held for devotional purposes. Access is permitted to all visitors to the centres.
Heritage assets purchased are stated at cost, while donated items are stated at market value at the time of the gift; they are not depreciated as their value is considered to be at least the original cost.
Such objects are acquired as needed, and subject to the approval of the Board of Trustees. They are maintained in good order by volunteers and an inventory is kept for insurance and administrative purposes.
The cost of acquisition of such assets purchased over the last five years is as follows:
2024 - NIL 2023 - NIL 2022 - NIL 2021 - NIL 2020 - NIL
Value of assets acquired by donation: 2020 to 2024: NIL
None of the heritage assets have been revalued..
11. DEBTORS
Amounts falling due within one year: Prepayments
31.12.24 31.12.23 £ £ 3,909 2,416
continued...
Page 11
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. DEBTORS - continued
| 11. | DEBTORS - continued | ||
|---|---|---|---|
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Amounts falling due after more than one year: | |||
| Other debtors | 9,035 | 8,942 | |
| Aggregate amounts | 12,944 | 11,358 | |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 14) | - | 5 | |
| Other loans (see note 14) | 9,054 | 6,958 | |
| Other creditors | 1,424 | 1,221 | |
| Accrued expenses | 900 | 900 | |
| 11,378 | 9,084 |
"Other loans" represent an amount borrowed from Sakya Dechen Buddhism Ltd, of which the liability due within one year is £9,054 (2023: £6,958).
13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| £ | £ | ||
| Other loans (see note | 14) | 71,552 | 80,606 |
"Other loans" include an amount borrowed from Sakya Dechen Buddhism Ltd, of which the liability due after one year is £70,602. (2023: £79,656). The balance of £950 represents sums advanced by supporters of the Trust some years ago.
14. LOANS
An analysis of the maturity of loans is given below:
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | £ | |
| Amounts falling due within one year on demand: | ||
| Bank overdrafts | - | 5 |
| Other loans | 9,054 | 6,958 |
| 9,054 | 6,963 | |
| Amounts falling between one and two years: | ||
| Other loans - 1-2 years | 9,414 | 8,746 |
| Amounts falling due between two and five years: | ||
| Other loans - 2-5 years | 30,543 | 28,607 |
| Amounts falling due in more than five years: | ||
| Repayable by instalments: | ||
| Other loans more 5yrs instal | 30,645 | 42,303 |
| Repayable otherwise than by instalments: | ||
| Other loans due in greater than 5 years - non instalments | 950 | 950 |
continued...
Page 12
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
15. MOVEMENT IN FUNDS
| At 1.1.24 £ Unrestricted funds Stupa fund 24,541 General Fund 424,337 448,878 TOTAL FUNDS 448,878 Net movement in funds, included in the above are as follows: Unrestricted funds General Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds Stupa fund General Fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds Stupa fund General Fund TOTAL FUNDS |
Net movement in funds £ - 40,938 40,938 40,938 Incoming resources £ 74,634 74,634 At 1.1.23 £ 24,398 409,161 433,559 433,559 Incoming resources £ 143 40,401 40,544 40,544 |
Transfers between At funds 31.12.24 £ £ (3,196) 21,345 3,196 468,471 - 489,816 - 489,816 Resources Movement expended in funds £ £ (33,696) 40,938 (33,696) 40,938 Net movement At in funds 31.12.23 £ £ 143 24,541 15,176 424,337 15,319 448,878 15,319 448,878 Resources Movement expended in funds £ £ - 143 (25,225) 15,176 (25,225) 15,319 (25,225) 15,319 |
Transfers between At funds 31.12.24 £ £ (3,196) 21,345 3,196 468,471 - 489,816 - 489,816 Resources Movement expended in funds £ £ (33,696) 40,938 (33,696) 40,938 Net movement At in funds 31.12.23 £ £ 143 24,541 15,176 424,337 15,319 448,878 15,319 448,878 Resources Movement expended in funds £ £ - 143 (25,225) 15,176 (25,225) 15,319 (25,225) 15,319 |
|---|---|---|---|
| 15,319 | |||
| 15,319 |
continued...
Page 13
Thinley Rinchen Ling Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Stupa fund General Fund TOTAL FUNDS |
At 1.1.23 £ 24,398 409,161 433,559 433,559 |
Net movement in funds £ 143 56,114 56,257 56,257 |
Transfers between At funds 31.12.24 £ £ (3,196) 21,345 3,196 468,471 - 489,816 - 489,816 |
Transfers between At funds 31.12.24 £ £ (3,196) 21,345 3,196 468,471 - 489,816 - 489,816 |
|---|---|---|---|---|
| 489,816 | ||||
| 489,816 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Stupa fund | 143 | - | 143 |
| General Fund | 115,035 | (58,921) | 56,114 |
| 115,178 | (58,921) | 56,257 | |
| TOTAL FUNDS | 115,178 | (58,921) | 56,257 |
As noted elsewhere, the Trustees have set aside £21,345 (2023 £24,541) towards the building of a stupa in the future. As £3,196 had been spent on the project during the year, this sum has been transferred out of the designated reserve into general funds.
16. RELATED PARTY DISCLOSURES
As at 31st December 2024, the Trust owed the sum of £79,656 (2023: £86,613) to Sakya Dechen Buddhism Ltd. (SDB), a registered charity, the majority of whose directors are also Trustees of the Trust. Interest of £3,611 was charged during the year The loan is unsecured and due to be fully repaid by monthly installments, ending in September 2032.
The Trust was owed £8,050 by SDB, interest-free with no fixed date for repayment.
Donations received from Trustees amounted to £300.
Page 14