2025-07-31-accounts

Lam Rim Buddhist Centre Wales Annual Report 1st August 2024 – 31st July 2025

Annual report and financial statements for the year ended 31 July 2025.

Registered Charity No. 326675

The Trustees present their annual report and the independently examined financial statements for the year ended 31 July 2025. These have been prepared in the light of the Statement of Recommended Practice - Accounting and Reporting by Charities, and the Charities Acts. All information given was correct as of 31[st] July 2025 and has been approved by the Trustees.

Reference and Administrative details

Lam Rim Buddhist Centre Pentwyn Manor Penrhos, Raglan Monmouthshire NP15 2LE

Registered Charity No. 326675

Patron

HE Ganden Trisur Rizong Sras Rinpoche until his passing on 8[th] Dec 2022.

Trustees

Jason Briggs Judith Anne Hasell Gillian Margaret Vaisey Geshe Graham Woodhouse

Executive Committee

David Johnson (Advisor)

Resident Volunteers

Anneka Lott (for part of this reporting period) John McDougall

Advisors

Fiona Oliver (off site) Ceris Timms (for part of this reporting period)

Off-site Administration

Jo Nicholls (Secretary)

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Structure, Governance and Management

The Charity is a Trust governed by a Trust Deed dated 5[th] August 1983, updated April 2022 that states the Trustees of the Charity shall be no less than three and no more than six in number, with the majority of the Trustees to reside in the UK.

Trust Deed

A revision to the Trust Deed was required to reflect the death of the Centre’s Spiritual Director, clarification on the recruitment of Trustees, auditing requirements of the accounts and minor updates on the appointment of a Chair of the Trustees at meetings. The revised Trust Deed was accepted by the Charity Commission (CC) and uploaded to the CC Website on 29[th] April 2022.

Spiritual Director

On Saturday 26th August 2017 at Lam Rim Buddhist Centre, Penrhos, Raglan, our Spiritual Director, the Venerable Geshe Damcho Yonten passed away. The current Trustees and/or future Trustees may appoint a new spiritual director in consultation with the Dalai Lama or the Head of the Gelugpa tradition.

Trustees

The Charity is currently governed by a Board of four Trustees, which is supported by an Executive Committee and Advisors.

The Trustees are responsible for setting the direction of the development of the Charity. The Trustees manage the charity’s resources responsibility and act with reasonable care and skill in the best interest of the charity.

All Trustees give their time voluntarily and receive no remuneration or other benefits.

Executive Committee

All Executive Committee Members and advisors give their time voluntarily and receive no remuneration or other benefits for their advice given in this capacity.

Staff

The role of the remote Secretary is an hourly paid position.

Meetings

The Board of Trustees hold regular meetings, usually every six – eight weeks. A Chairperson is appointed at the start of each meeting. In accordance with the Trust Deed a minimum of two Trustees must be present for a meeting to be quorate. The Secretary records the minutes and the subsequent actions. Minutes are accepted as a true record of each meeting by all Trustees and signed by the Chairperson of that meeting. Each set of minutes is archived and held in an electronic file.

Six formal Trustee Board meetings were held during the period of this report. These were supported by additional regular informal meetings both online and in person, telephone calls and email communications between the Trustees.

Objectives

As stated in the Trust Deed, the objects of the Charity are to promote the Buddhist faith and Buddhist charitable organisations throughout the United Kingdom. The Charity was established to fulfil the desire of many persons to promote the Buddhist faith and to encourage human growth through meditation and spiritual development.

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Executive Summary

• After extensive research and discussions in the previous reporting year, the Trustees agreed there was a benefit to the Charity in changing its status from a ‘Charity Governed by a Trust Deed’ to a ‘Charitable Incorporated Organisation (CIO)’. The incorporation process is a mechanism by which the organisation becomes a legal entity. It provides longevity in perpetuity beyond individuals’ Trusteeships. The process of applying for change of status is in progress with the Charity Commission. The CIO application continued during this reporting year and is due to be completed in Spring 2026.

• Several considerations were made for the appointment of a Centre Manager. The Trustees continue to pursue a suitable appointment. As the search for a Centre Manager continued it was evident that the Centre needed interim management support. Two of the Trustees, Jason Briggs and Gill Vaisey, decided to step in and provide help. They both took up residency at the Centre in order to take on the managerial duties, develop the Centre’s policies and procedures and to support the resident volunteers.

• This reporting year is the first full year of the Centre being able to offer residential retreats since its reopening in May 2023. With the continued hard work of both resident and day volunteers and from local builders, more rooms were made available for accommodation, enabling the Centre to welcome more visitors and continue to develop a loyal and engaged community.

• The Centre thrived with a very busy programme with record attendances and welcoming old and new guests. The Trustees appreciated all the hard work from the Resident Volunteers and Day Volunteers in making these events successful.

• The Centre offered 18 Dharma courses in total with a mix of residential and day courses involving 13 teachers.

• In addition to the courses, the Centre also offered community gatherings to celebrate the notable occasions of: Losar, the 90[th] birthday of his Holiness the 14[th] Dali Lama and occasions when visiting lamas and monks were residing.

• A successful Summer Studies was offered by Geshe Graham Woodhouse and was held over a 5-week period with visiting monks and nuns from overseas in attendance.

• The regular sessions continued throughout the reporting year included the weekly walking and sitting meditation sessions and the Sunday Green Tara Pujas held during the Summer.

• The ongoing maintenance work required for the house and grounds is considerable and ongoing with the support of local builders who continue to provide work of a high standard.

• The Grounds Maintenance Adviser continued their valuable work with the development and annual maintenance of the grounds. A regular gardening group of volunteers was set up and met monthly to manage the gardening tasks.

• The team appreciated the work carried out a by a local volunteer in rebuilding the structure protecting the Buddha statue located in the garden.

• Outside of the dates of the scheduled courses the Centre continued to remain open three days a week to welcome walk in visitors.

• During the year, two members left the team: Ceris Timms - the Trustees thank Ceris for bringing her knowledge and enthusiasm in creating a scheme of works for the grounds and initiating the popular monthly gardening days.

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Anneke Lott - the Trustees thank Anneka for her support as a resident volunteer and her initiative in creating a series of interesting interviews with teachers with the introduction of the Lam Rim Wales blog.

• Maximising the Centre’s assets to support the financial situation is always a consideration. The letting of the Coach House ground floor apartment for short term stays helped enormously with income generation.

• The Centre greatly benefited from short residential Volunteer stays and day Volunteers throughout the year.

• The Trustees researched the options of appointing new Trustees. The appointment process is ongoing.

• Several considerations were made for the appointment of a Centre Manager. The Trustees continue to pursue a suitable appointment.

Main Operational Activities and Developments

Executive Committee and Advisors

The Trustees welcomed the support of David Johnson, Ceris Timms and Fiona Oliver as advisors to the Trustees. Their practical help and advice is greatly appreciated. These individuals carry out aspects of work on behalf of the Trustees and are invited to advise on particular items at Trustee meetings as appropriate.

Teachers

During the year the Team was delighted to welcome new teachers to the Centre as well as hosting many returning teachers.

The teachers for this reporting year included:

Richen Dorje was born in Brazil, 1972, raised in the southeast of England, then spent his adolescence in South Wales. He met the Dharma when he was 12, at Lam Rim Buddhist Centre in Wales in 1986, having a close relationship with Geshe Damcho Yonten until the age of 17. He then moved to Portugal to start different business ventures. Rinchen became a monk at the age of 24. He was ordained by H.H. Dalai Lama, in India. He then returned to the West to spend time at Nalanda Monastery in France. He studied at Lama Tzong Khapa Institute in Italy with Geshe Jampa Gyatso for 5 years, finishing with a one-year retreat in Spain. During the time of his studies at Lama Tzong Khapa, Rinchen became more interested in the Tantric studies, and particularly Dzogchen. He met Lopon Ogyan Tanzin Rinpoche in the UK in 2001 receiving Ngakpa ordination and started to practice the Dudjom Tersar. This continues to be his main focus to date. In 2007 he had the fortune to meet Rigdzin Namkha Gyatso Rinpoche, becoming one of his heart sons. He followed Rinpoche constantly until this date now, mainly constructing and shaping Rinpoche’s Centre in the south of France, Rigdzin Drolloling. Rinchen spends most of his time these days teaching and meditating, travelling to Italy, Holland, Spain, Switzerland and Lithuania - specifically making pujas and practices for helping people with sickness and obstacles.

Jacob Fisher is a PhD Candidate at the University of Oxford. Prior to this he completed the sixyear Masters Programme in Buddhist Studies of Sutra and Tantra - a full-time traditionally orientated study programme based on the Tibetan Geshe degree covering the Ornament of Clear Realization, Entering the Middle Way, Abhidharma and the Guhyasamājatantra at Instituto Lama Tsongkhapa, Italy. Following this, he entered a three-year retreat. After two years he was asked by Lam Zopa Rinpoche to conclude the retreat in order to teach on the Masters Programme in Nalanda Monastery, France. He then spent 5 years teaching on this study programme. Afterwards, Jacob completed an MA in Tibetan Studies at the University of Oxford. His current PhD research focusses on Indian and the Middle Way school, specifically on it resolves the problem of perceptual relativism and cultivate insight in meditation.

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Tenzin Gendun was born in Sri Lanka and growing up in England, studied at art school before meeting Tibetan Buddhism through the kindness of Lama Zopa Rinpoche and Dalai Lama. He became a monk in 1992. He served in Buddhist centres in New Zealand, and from 2000 he moved to Nalanda Monastery in France to further his Buddhist studies, graduating there with a master’s degree in Buddhism.

Ösel Hita Torres was born in 1985 in Bubión, Spain, Ösel Hita Torres was recognized at just 14 months old by His Holiness the 14th Dalai Lama as the reincarnation of Lama Thubten Yeshe, a beloved Tibetan Buddhist teacher and co-founder of the Foundation for the Preservation of the Mahayana Tradition (FPMT). Known as a tulku - a reincarnated lama - Ösel was one of the first Westerners to be identified in this role.

Ösel spent much of his early life in monastic training at Sera Monastery in South India, immersed in Buddhist philosophy and Tibetan culture. As an adult, Ösel chose a different path, stepping away from traditional monastic life to explore modern education, film, music, and humanitarian work.

Today, he continues to inspire through his teachings, creative projects, and deep commitment to universal values of compassion and wisdom.

Paula Jardim’s journey into Buddhism began as a teenager when she stumbled upon the Four Noble Truths while browsing a book in a bookstore. At the time she was studying at the Gregorian Chant Institute, where she spent six years learning to read the neumes written in square notation by medieval monks.

In 1990, she discovered the Tibetan tradition and began attending meditation classes at a Nyingma centre. Years later, she studied with Geshe Thinley and Geshe Tashi and completed the Foundation of Buddhism Thought course and the Lam Rim Chen Mo study program, both within the Geluk tradition. Paula also became involved in dharma translation for the Berzin Archives and spent six years facilitating meditation sessions at the Bristol Lam Rim Centre. Additionally, she offered meditation sessions at a hostel for homeless women and served as a trustee for Lam Rim Wilts & Glos Buddhists. Paula is deeply grateful for the richness, depth, and power of the Buddhist practices; and now exploring creative ways of feeling the dharma and embodying the teachings through the moving body .

Ngakma Shé-zér Khandro has been a Buddhist practitioner for over 30 years studying in the Nyingma tradition. She is an authorised teacher of the Aro gTér lineage, a small family lineage from the Nyingma tradition. She took tantric ordination in 2000 with Ngak’chang Rinpoche and Khandro Dechen, holders of the Aro gTér lineage, having completed the necessary practice, pilgrimage, retreat and study requirements over a seven year period. As a mother of two school age children, Ngakma Shé-zér’s focus is on the practical application of Buddhist practice in everyday working family life and the importance of allowing meditation to bring joy into one’s life. She also specialises in the elemental practices of the Nyingma inner tantras and the wrathful practices of the Aro gTér Seng-gé Dongma khyilkhor.

Geshe Tenzin Losel was born in mid-20th century Britain. He first met Buddhist teachings in England thanks to the exceptionally kind efforts of Lama Yeshe and Lama Zopa, reaching out to westerners. He left for India in 1990 for further studies and received full ordination as a Buddhist monk in the Tibetan tradition from His Holiness the Dalai Lama in 1994. He is one of the handful of Westerners trained for two decades in the traditional Tibetan way as a Geshe. While a student at the Institute of Buddhist Dialectics in Dharamsala, he attended many public teachings by His Holiness there. In 2006 he received his Geshe degree from Drepung Loseling, the monastery where the late Geshe Damcho, founder of Lam Rim Wales also trained. After returning to Britain to care for his parents in their last years, he moved in 2018 to Nalanda Monastery in France. As well as teaching, he has been involved in translating vinaya materials, which deal with ethical conduct and vows, especially for monastics. In fulfilment of Geshe Damcho’s request to him to teach in his centres, he is now associated with Lam Rim Wales and Lam Rim Bristol.

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David Oromith , a meditation guide and co-founder of Samadhi, is a Buddhist contemplative with a background in mental health services. David has studied under various teachers, notably Lama B. Alan Wallace, and is influenced by Tibetan Buddhism, among other traditions, recognising the value and benefit of multiple points-of-view. He focuses on meditation training and core, practical Buddhist principles in his teachings. He is the author of the book A Practical Guide to Mindful Living and leads several retreats across the UK every year, as well as teaching online and in person across South Wales. David's engaging style is clear, practical, and relatable, hoping to make ancient practices applicable to modern life. He envisions and works towards the establishment of the Samadhi Eco Retreat Centre as a community for spiritual development.

Gelongma Tenzin Palmo comes from the Czech Republic. Originally a high school teacher, she took refuge with Kyabje Zopa Rinpoche in 2008 and three years later was ordained by His Holiness the Dalai Lama in Dharamsala. Graduated from the FPMT Basic Program in Lama Tsong Khapa Institute in 2014, she continued her studies in Kopan Nunnery in Nepal for seven years. In 2022 she returned to Lama Tsong Khapa Institute to study the FPMT Master Program, being also Teaching Assistant for the Basic Program online organised by Jamyang London and teaching a group of FPMT students in Prague, her hometown.

Khenchen Rinpoche was born in 1989 in Tibet. In order to acquire the Buddhist education, which was unavailable in his homeland, he was taken out of Tibet secretly when he was three years old and enrolled as a monk at Drepung Loseling Monastic College in South India. Even in exile in India, Drepung Monastery is a community of more than two thousand monks, who are from Tibet and the Himalayan regions and follow a strenuous curriculum of study and debate. After he had completed his education and earned his Geshe degree, on the advice of His Holiness the Dalai Lama, Khenchen Rinpoche came to the UK to learn English. He spent the time of Covid practising his language skills at Land of Joy dharma centre, Greenhaugh in Northumberland.

Ngak’chang Rinpoche born in 1952 and ordained as a ngakpa and recognised as the incarnation of gTértön Aro Yeshé by Kyabjé Düd’jom Rinpoche Jig’drèl Yeshé Dorje in 1971. He is a Nyingma Lama who has studied with Lamas of each of the Himalayan Schools of Vajrayana. He has completed three years of solitary retreat and has taught in Britain, Europe, and the USA since 1985. He has written 18 books on Vajrayana topics and has specialised in the Arts — both Western and Himalayan. Khandro Déchen - born in 1960 - is Ngak’chang Rinpoche’s wife and religious consort. She has studied in the Nyingma Tradition since her early twenties. She was ordained in 1992 recognised as the incarnation of Jomo A-ye Khandro by Kyabjé Künzang Dorje Rinpoche in 1995. She was a university-trained nurse but retired to teach with Ngak’chang Rinpoche in 1993. She specialises in thangka painting and sKu-mNyé - the psychophysical; exercises of Dzogchen long-dé.

Geshe Rinchen Wangyal completed his traditional Tibetan Buddhist education at Drepung Losel Ling Monastery and the Institute of Buddhist Dialectics in India, and gaining a BA (Hons) Degree in Philosophy, Religion and Ethics at The University of Winchester in the UK.

Other teachers that offer courses to Lam Rim, Wales but not during this reporting period include:

Paul Seagrave is classically trained in the Tibetan Buddhist Gelugpa tradition, the lineage of the 14th Dalai Lama. He graduated from Nalanda Monastery in the summer of 2022 having completed the five-year residential programme under the guidance of Geshe Jamphel Gyaltsen and Geshe Graham Woodhouse (Tenzin Losel), concluding ten years of study and over a year of solitary retreat.

Andy Wistreich spent much of his career as a teacher in further education in England. In 1980, he began practising Buddhism, receiving teachings and vows from notable Tibetan masters, and went on to coordinate spiritual programmes and teach at Buddhist centres. Throughout the eighties and beyond, Andy engaged in teaching, leading retreats, and deepening his practice through solitary retreats and advanced studies in Buddhist philosophy and meditation.

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Staffing and Centre Operating Structure

Administration staff and the Secretary to the Trustees continue to be a major source of support in managing the Centre. The Secretary prepares agendas in conjunction with one of the Trustees and writes up the minutes of the meeting. Administration staff support the Trustees in carrying out particular actions arising from the meetings as well as other administrative tasks necessary for the ongoing running and development of the Centre.

Consideration of appointing an onsite manager continued throughout the year and this is ongoing. In the current absence of an onsite manager, Gill Vaisey (GV) and Jason Briggs (JB) took on the managerial duties required to support the current team and to ensure the continued development of the Centre. JB took up temporary residency at the Centre in August 2024 to help with this and GV joined the onsite team as a resident later in December 2024.

Residents and Volunteers

• The two resident volunteers continue to provide valuable support to the Centre

• Considerable maintenance work, both in the house and the grounds, was undertaken by John McDougall.

• Anneka Lott helped with the community mailings promoting the Centre and its courses, the social media posts and the newly created blog posts.

• There were several residential short stays by additional volunteers.

• Ceris Timms (CT), an advisor to the Trustees, with regards to the development of the grounds, continued the work outlined in the grounds scheme of works. CT visited the Centre regularly and set up a monthly volunteers’ garden group which continued to operate throughout the year.

• Fiona Oliver an advisor to the Trustees provided advice based on her experience at several other Buddhist Centres.

• Trustees, advisors and day volunteers provided periods of onsite volunteering to help maintain the upkeep of the grounds and building.

Maintenance and Repairs to the Centre

Fire safety work was completed in September 2024 which included:

• An upgrade to fire alarm system

• Expansion of emergency lighting

• Ensuring a risk assessment is in place and inductions on fire procedures for guests are conducted.

Work continued after the extensive maintenance work carried out in the previous reporting year. In 2023-2024 the tasks included improving the plumbing in the bathrooms, the installation of a hot water supply in the kitchen, repairs to the kitchen ceiling and replastering walls and redecorating bedrooms.

After providing a report on the damp situation in the two attic rooms in the reporting year 20332024, the builders went on to complete the interior work required.

The builders reported that all of the windows require urgent attention with the replacement of the attic windows a priority. Further consideration was required to replace the attic windows due to scaffolding being required and the possibility of other work that could be completed while the scaffolding was erected.

The canopy where the bees and hornets had been nesting was repaired and the fascia board sealed.

Internet Connection

After extensive research a new internet provider was installed which improved internet speed and allowed the onsite volunteers and Trustees to work more efficiently.

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Website

The website continues to be developed and has proved invaluable for course bookings and community mailings.

Utilising The Centre’s Assets

• Both apartment 1 and 2 have proved profitable and a valuable source of income.

• Apartment 1 was rented on a short-term basis for part of the year.

• Apartment 2 continued to successfully provide short term holiday or retreat rental.

• The resident volunteers’ hard work has paid off with excellent reviews from guests. As a result, a ‘superhost’ status from Airbnb has been retained.

• The Centre’s teaching room has been promoted for room hire for yoga and other courses in line with Buddhist principles. Two external yoga groups continue to hire the teaching room providing valuable income and for the first time a Sound Healing Day session was held.

Main activities undertaken for public benefit and to further the purpose of Lam Rim Buddhist Centre

The Trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

This section of the Annual Report summarises the activities carried out for the benefit of the public during this reporting period.

Mailings to the Community

During the period of the report, 26 mailings were sent to all those on the community mailing list using the website platform. The mailings provided updates about the Centre and its activities, and the various courses being offered. Responses communicating support, encouragement, and an appreciation to see the Centre active again were frequent alongside numerous enquiries for personal and group retreats. Community members have been thanked for their support.

Social Media Activity

The Centre continues with its social media presence via its Facebook page and local Facebook groups.

Day Visitors

The Centre remains open for general visitors, three days a week.

Retreats

The Centre held many residential teaching retreats which are listed below. The Centre was also able to offer personal retreats for individuals.

Teaching Programme

The teaching programme continued to offer live dharma teachings to the community, both in person and online. The Centre was pleased to welcome international attendees from across the globe for the hybrid online/in person day session held in May. There were 18 Dharma teachings with record attendance figures:

•  Joyful Heart Day Retreat: The Four Immeasurables with David Oromith (Onsite) - Saturday, 14th Sep 2024

•  Understanding Karma - Buddhist First Step to Happiness with Tenzin Palmo (Onsite) - 27[th] 29[th] Sep 2024

•  Entering The Path - Essential Understandings in Buddhism, with Rinchen Dorje (Onsite) - 18[th] - 20[th] Oct 2024

•  Introduction to Meditation, with Ngakma Shé-zér Khandro (Onsite) - 4 Week Evening Course, 30[th] Sept - 28[th] Oct 2024

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•  Birth, Death & Dream Yoga (Onsite) – 9[th] Nov 2024

•  Silent Mind, Holy Mind, with Tenzin Gendun (Onsite) – 14[th] Dec 2024

•  Roaring Silence - Discovering the Nature of The Mind, with Ngak’chang Rinpoche (Onsite) - 25[th] Jan 2025

•  Joyful Heart Day Retreat: The Four Immeasurables, with David Oromith (Onsite) – 8[th] Feb 2025

•  A Glance Meditation on the Entire Path, with Geshe Losel (Onsite) – 8[th] Mar 2025

•  Yogic Song - Meditation using the Power of the Voice with Ngakma Shé-zér Khandro (Onsite) - 15[th] Mar 2025

•  Philosophical Inquiry - How an Understanding of Buddhist Metaphysics Leads to Wellbeing, with Geshe Rinchen Wangyal – 29[th] Mar 2025 (Onsite)

•  Tranquil Mind: Meditating on Emptiness Retreat, with Geshe Losel (Onsite) – 17[th] to 21[st] Apr 2025

•  Reconnecting with the Heart: A Public Talk with Ösel Hita (Onsite & Online) – 3[rd] May 2025

•  The Four Seals Which Authenticate the Buddha’s Word, An Introduction with Geshe Losel (Onsite) - 10[th] May 2025

•  Cultivating a Daily Practice, Gelugpa Style - Retreat with Jacob Fisher – 20[th] to 22[nd] Jun 2025

•  DharmaDanza: Moving with Intention, Embodying the Six Perfections, with Paula Jardim – 25[th] to 27[th] Jul 2025

•  Highway to Enlightenment: Awakening Universal Love Retreat, with Tenzin Palmo – 4[th] to 6[th] Jul 2025

•  Dependent Arising, Summer Studies with Geshe Losel – 11[th] to 31[st] Jul 2025

Dharma in person day and residential courses

The team thoroughly enjoyed hosting the courses and all those who attended showed their appreciation. During these in person sessions the vibrant interaction and conversation with old and new friends created a positive atmosphere.

Weekly Meditation

The two resident volunteers continued with the two weekly mediation groups – sitting and walking.

Complementary Courses

Two yoga teachers, who have previously held day sessions at the Centre returned to conduct yoga days with their groups. The first Sound Healing Day was successfully held early in 2025.

Educational Visits

The Centre usually hosts several school visits per year. We have been pleased to receive communication from schools who are keen to re-connect with the Centre and visit.

Losar 2025

The Centre opened its doors to the community to once again celebrate Losar. There was a varied programme of events over two days. Ngakma Shé-zér Khandro kindly joined us as the spiritual lead for which we were very grateful. The weekend was thoroughly enjoyed by all attendees.

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Financial Review

Financial Reserves

The financial reserve of £12,000 provides approximately 5 months’ running costs. This reserve allows for an unexpected drop or loss of income. The reserve can be used to cover essential running costs.

Accounts

These accounts have been prepared in accordance with accounting standards and in so doing, meet relevant legal requirements to give a true and fair view of the Charity’s financial position and activities and are therefore in accordance with the Charity Statement of Recommended Practice (SORP) and FRS 10.

They show that in 24/25 Lam Rim had a surplus of £50,101.84 This surplus is largely due to a legacy donation of £37,464 and several special donations.

Running Costs

The trust has operating expenses / running costs of £41,907 (£3,495 per month) which includes repairs and upgrades but not food and household as this has been associated with Direct Costs of Trading (running courses and retreats).

Running costs without repairs and upgrades and with food and household would be £28,617 (£2,392 per month)

An exceptional repair / upgrade of the new Fire Alarm System incurred costs of £22,423.

Income

The trust received a total operating income of £37,758 in 2024 / 2025 (£3,146 per month) mostly made up of

£6467 donations for day courses

£6382 donations for residential courses

£5846 room hire £8249 residential accommodation (£5097 Airbnb & £3152 Personal Retreats / Stays) ) £7950 general donations £1311 shop sales £1465 Gift Aid

Additional income was received in the form of: £87,465 special donations £1758 bank interest

Total income was £126,894 Total Expense was £76,966

Reserves

At the end of July 2025, the Trust has cash assets of £78,462 (£23,697 building society, £41,900 other savings account and £12,865 current account).

Discrepancies

There are no discrepancies in the accounts.

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Declaration

The Trustees declare that they have approved the Trustees’ Annual Report (August 2024 - July 2025) and accounts (August 2024 - July 2025)

Signed on behalf of the Lam Rim Buddhist Centre, Wales Trustees

Signature:

Full name: Gillian Vaisey

Position: Trustee Date: 29/5/2026

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