REGISTERED CHARITY NUMBER: SC023439 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JI MARCH 2025 FOR TIBFTAN YUNGDRUNG BON STUDV CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) Amislron8 Walson LLP Cal¢donia Housc 89 Seaward Street Glasgow G41 IHJ
TIBETAN YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) CONTENTS OF THE FIN'CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Independent Examiner's Reporl Statement of FiDan¢lal Actlviti Balan¢¢ Sheet Notes to the Flnanclal Statements 10 10 17
TIBETAY YUNGDRUNG BO.N' STUDY CENTRE {CEfiTRE FOR LEAILNIYG TIBET'S NATIVE SPIRITUAL TRADITIOY) REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 MARCH 2025 The Irustees Present their report with the finan¢Tal statements of th¢ charity for the year end 31 March 20?5. The trustees hav¢ adopted the provisions of Accounting and Reporting by Charities: Statemcnl of Recommended Practice applicable to chariiies prcparing iheir accounts in *ic¢ordance with the Financial Reporting Standard appli(2ble in the UK and Republie ol- Ireland (FRS 102) (effcctivc l January 20191. 2024_2025 has ab)ain been a busy year for TYRSC Rnd its Spiritual Diirctor. seen an ong•oinLT advancemcnl and consolidation of meditalional praciice and TLdiliiiigb. OBJECT AVES AND ACTIVITIES Slgnificant Setivilies A%sets Purchasc or As nolcd in prcviau8 ycars the TYBSC Board has been looking to purchase a remote retreat centr¢. Following a pause in looking for Sliiiable properti¢s. the property directly opposite th¢ Ku-soom LinLI Gom-pa came up for sale in May ?n24. Rinpoche suggcsted ihai this would be a good oppurtunily lo extcnd Ihc provisions of the exisling Gom-pd dl rather than finding a new propcrty in a tnore I'cmol¢ lo¢aiioTh. 'I'he TYIJSC BL)urd meinbLrs agreed. 'I'heir upiiiiiin VLi% Ihat thc prop¢ny was well suii¢d tor the TYBSC'S purposcs. Thc TYBSC Board proceedcd to purchuse the prop¢rly. with the exchan8e of conlrac15 and complction taking place in November 2024. Thc property purchase is the culminalion of many years of hard work bv Ihc TYBSC board and members lo se¢ur¢ a residcntial propLrly f¢Jr ihe TYBSC and finally realisLs vi%iun of a dedicated UK Relrcat Ccntrc, Many mcmbcrs ond non mcmbers havc gicncrou%ly donulLd funds over ihe years 10 hclp rLiIIIsL this vision, and the purchase was made possiblc ii%inbT funds Hlready raised for Ihis piirposc. wilh an additional £120.000 being scciircd via a priV[e loan froin tt studeni. 'I'his loan is io bc repaid wiil)oul inleresi within 10 years. dn(I the TYBSC Board are deligyhied lo bc ablu lo ollcr th¢ propcty for ihe use of invit¢d gucsls and TYBSC i)ILiiib¥l".% Ic>r resideniial and non residLnli&l rclrcals and ieachings. Scvcral r¢pairs were made to the Gom-pa dl by the Caretaker and supportcd by Ihc TYBSC Community. including repairingi Ihc fronl porch. In nior¢ rcccnl ycars. ddmp #nd mould huvc been developing on IhL wa115 nf ihc Gom-pa..Tihe TYBSC ljoard arranged for A damp 8nd Londen5&1ion survey 10 be carried oul by a repulablc company. This was ¢ondu¢lLd fr¥L of LhurbpL in March 2025 and The reporl was sub%cquonily made available in April 20?5. Thc rLpi)rt confirrnLd ilial ihcrc wcrc issucs with datnp and su&gc5tLd SCVLral polenlial sources of ihi5 dar[c. Th¢ TYBSC board is actively engaged in idcnlifyin8 ihc most appropriate action for addTC55ill8 Ihc damp issues. UK W¢ekly llnd Imonthly ReRuIAr Meditatlon Practlcc This ye3r thc rcgvular wcckly evcnin¥ meditational praclic¢ Sessions of D£ogchcn Nigondro {the 9 foundalion pracliL¢sI nd the regular monthly full day of th¢ medilalional prii¢li¢¢s of Jis1 P;1 Ni 'im Zhi Nyamlen {Ihe 4 Lhuril¢ible or generosity practices) have continued to be conducted over Zoom.Sin¢e 2021 'Ilso addcd TSEDRL'13 JARI-MA (lung Lif¢ prayer Ritc) to be perfornied on the day. Students and mcmbcrs ol. tl)e piiblic havc ihc opportunity io request to sponsor these monthly practices, dedicating the prayers for the bertefit of their families and loved ones. The weekly Dzogchen Nblondro Sak Jangi and Ihc Jinpa Namzlit Nyamlcn uonlinuc io bc free ol charge and open to thc gencrdl public. Thc5c wcckly and monihly mcctings and mCd1¢10] praciices on Zoom bring tO8cihcr studcnts of Yungdrung Bon from the UK, ond all ovcr thc iyorld and have Crcad and strcngth¢ned close ties within Ihc wider Spirilual connuni1y. In addition to the 8bovc, so1 individLial Incmbcr% from Ihc rcgions mct infomially to practice tO8crhcr in STnall groups in pcrson or Yia Zoom as encouragLd by Page I
TIBETAY YUNGDRUNG BON STUDY CENTRE (cLr4TRE FOR LEARNING TIBET'S 'ATIVE SPIRtTUAL TRADITION) REPORT OF THE TRUStEES FOR THE YEAR EfsDED 31 MARCH 2025 ACHIEVEMETr4TS AND PERFORMANCE Charitable 4¢tivi¢ies Retreats and TeAchin%s Durin¥) ?0?4 ?0?5 lh¢ leaching aclivilies undertaken under the umbrcllA of TYBSC by its Spiritual Dircclor ontinued uninlemipted from Apiil 2024 10 thc cnd of March 2025. Tri-weekly Dzogchen teachings Th¢ onguing formal Dzogchen Teaching continued, altcnded noi just by UK SLudenls bul also by SiudLnls of Yungdrung Bon froin all over the WOTld. Th¢ SLOPC of tlie cour5C. it's depth and thc ttdvunLcd nuture of IheseTea¢hing5 a unprecedentcd in ihis part of thc world with l]nderf#kIng compl¢x translation5 of bpilitudl tcxts prcviou51y unkno in the West. Furthennore in man. LIIL con¢epis contained within Ihc T¢a¢hin8s have no western cquival¢nl, so ¥r¢ carefully and thoughtfully adapted lo allow wcstcrn minds to grasp these complex and subil¢ oncepls.Thc -fri-Iwcekly teachings wcr¢ augmcnlcd ihrough ihc continuation of weekly DLoghen Teaching revisions on Zoom led by hich dccpen students, understanding of the l¢achin&8. Dutri Su Drib Jong In May 2024 a Ihrcu. doi. r)Iilri Su Drib Jong rile was perfonned, sponsored by a siudent, and was held in Ihc Ku500m-Ling Gon-pa. lcd the rile in p¢rn, also 18king the opportuniiy to leach Ihosc %tudcnls present mor¢ Rboui the Dulri Su Drib Joiigi ritc. The cvent was well attended with siudcnly flyinL? in from Europe and Amcrici. Les8 elaborate Dutri Su Drib Jongs havc be¢n perf(>md frequently over Ihc ycar a$ part of Ihc Wednesday Sak-Jang. Students and mcmbLrs of Ihc public can sponsor a Dutri Su nTibJunbi via forniol request to RinpLJchL, when family mcmbcrs or lov¢d ones are siek or facing difficult circum&tsnces, and ihc praycrs arc Ihcn dcdicaied apprc*priarely. Visiting Lamas from the wider Yungdrunu Bon Communiiy In August 2024 ITiddL a privatc visil lo our during whiLh he visited the Ku_soom Linb (iuni-pJ iii LuiiLluii. Following his visit he inadc donalinn% l(} 111 iiidiniaining thc Gom-pa, via his organi%ation Ligmiiicha Iniemalional. The TYBSC wcrc dclighied lo wel¢om¢ the to Ihe Ku-$OOTll Lingy Goin-pa lo Lomplete a Zhang Zhung Nyen Gyud ctnpuw'LI fiiLllt aiid iiaLliin.{7 Irom 2,Iih i(1 ?6ih Junuary 2025. The Ponlob is the principal tAma in thc Mcnri Monastery.over5eeing its spiriiuul prucliLL% al)d kLLP. Twci Lainag a¢compaiiied him 10 assist diiring Ihe Teaching, as WLII as requesting our o assist. Following months uf plannin& for IIIL cvcnl, it was wcll aitended by mLmbL'rs vf Illl Ku-suoiii Link l_)riib.dhc and Lon¢ludLd su¢icsit"ully. Thc Ponlob and his assistant& siuycd ai Ihi ncwly thcquircd property ill durin8 the evenl. Annual Yar-Tsham {retreall The annual 15 dlly inlLmational Yar-Tsham (summer rclrcal) look plac¢ from 30th Aubrysl to 13th SLPILmbLr 2U24. 11 was successtiilly complclcd following7 tscveral months ol preparation io comfiirliilil! 'ILLoiiiiiiodcili Ihc 5tudenls who attcndcd. Thc rr]ain topic of this yeals Yar-tsham was D70gchen bascd on lachIngS and practiceq. li proved an excellanl opportunily for the Ku-soom Lino DrLib-dhL' TIILnibLI'4 10 deepen tlieir understanding and practice of these profound teachings, under the guidance of Private consultations wilh Private con5ultalion5 Wlth the Lllma continued to take place mainly via Zooin. and where practical in person. These onc Iu uiics L(¢1. for a multiiudc of siludlions. Mcmbcrs of ilic public and sludenis alikc cunlinuc to be offered weekly opportLinities lo consulii wilh IhL Lamu fi)r u wide rangc of questions r¢lcvanl lo Ihc t¢achings ond rneditation laughi by the Lam8, and any oiher spiritual or otherwise personal conccrns thcy may have. PeTsonal retreats Pagc 2
TIBETALY YUNGDRL.VG BOY STUDY CENTRE (cE,TRE FOR LEARNIYG TIBET'S NATIVE SPIRITUAL TRADITION) REPORT OF THE TRUSTEES FOR THE YEAR F.NDFD 31 I¥IARCH 2025 Individiidl Ku-fixim l.ing Drub-dhc membif) cnntllllliiq rn c.iindilCt personal retreats at the Ku-soom Ling Gon-pa in New Barnel. following consultations with Sircngthening lies with the wider communily As on¢ of the five main Buddhist schools, all Yungdrung Bon Drub-dhe including TYBSC'S Ku-soorn Ling Drub-dhe were appointed by l.lis Holiness the Dalai Lama ai the Office of TibLI. Loi)don in Pebnory 2025 requesling our opinion on whether ilie inslililion OL. the Ddlai Lama should conlinuc. Ihc t4odrd LonfirmLd ih¢ii' support or th¢ continuation of Ihc Inslilulion of IhL Dalai Lama. Shornly afteN'arcls Flis HulinLS5 Ihe Dalai Lama's UK rLpfL.%Lnlaliv¢ rcqucstcd a meeting wilh Riiipoche and the TYBSC Incmbers and subsequently altcnded at Ku-soom Ling Gompa in March 2025. The office of Tibet followcd up with a warni thank you leiter io Rinpoche and Ihosc who aiiended the meelinb,. Rubchcn From the I1- 16 April 2024 the Menri monastic comrniinity in Nep81 conducted Menri Drubchen led by His Holineks 34th Imenri Trizin. This rite is exlremcly special and is conducted al least once during the lifelime of each Menn Abbot. During this rile a laTgL quantity of th¢ sacred Mendrub (healinbi incdiLinc) is blessed and subsequcnily di51ribulLd io Yiingdrung Bon Lamas around the world. Ku-soom Lin8 Drub-dhe were amongst thoscinvilcd to make Loniributions to sponsor oiie dav or rt of a day of prayers. dedicated iii the namL of their family friends elc. The sponsor4hip doiitLled studenis was colle¢led by TYBSC aftd sent to the moneslary on Iheir behalf. by 100 yc&rs of wi8dom In february TritLlI X(Iil?ulNL Mi on4sr¢ry in Kaihmandii cclcbralcd his Eniiftei)ce IOOih birtliday. devoted his entir¢ life lo the preservaiion, pra¢lice #nd pi QPJb.Iioii l.l¥ >aLr¥ ol Yunb7drLinb L4011, I111(I W411 Ihc pillar of the Yungydninb7 Bon 5pirituul ¥ommuniiy worldwide. Th¥ ¢il¢bralions of l 00 ycars ol. his extraordina i %criL4 ofcvcnts sucli as the inauurI10n of il's ncw Icmplc, con3eeration rituals, a Long-Life Puja foT a Geshe Graduation C,Lrcmony. and the Sixth International Confcrcncc on Bon. Thcyungdrnng 13011 conwiiuniL> ii'urld widL including TYBSC members and friends, and Ku-soon Ling Srub-dhe werc inviied lo make donations io sponsor these celebration5. TYSBC collected donations on beh21( of il'5 %111(ILllls und rricnds, and ihL%c wcrc personally handed over lo Ihc donalioi)s 01¢¢ al Tnlcn NorbulsL b our Vice-¢onvenor, on bchalf of TYBSC. FIANCIAL REVIEW Flftanclal reviLIv For IhL &Livuiilin¥ period under review th¢ apprOvl occounts show: Total income for the year increascd 10 £128,087 (2024.. £104,582) and totsl cxpcnditurc dccrcascd to £77,467 (2024.. £87,349). This resulis in a nct movcm¢nt of funds for the year of £50.620. Reservd poll¢y Thc Charity kccps a cash rcservc in lis bank account. which 1% 5ufliLienl lo keep it in opcralion in thc event of a105S Ot" incom¢. TYBSC currenily has free gcncral rcscrvc5 lloL tied up for a specific PUTP05C of £822,226. Funds of £393,837 which had been desionated for the pol¢nti&l properry project were fully ulilised during die year due to Ihe acquisiiion of ihe new propclly. In prior years. the tru51ccs had dLsigncd lunds of £42.695 to COVLr IhL borroiviiigs associated w'iih the proposLd purchase. DuringF ihi yLar, a furtl)er loan was rcLcived lo faLiliiul¢ IhL purchase and as al 31 March 2025, a furthcr £113.000 of funds havc beeii dcsignalcd to mccl Ihc payMen15 of thi5 loan. During the year. thc charity rcceivcd furihcr rcstricted donations of £20.764 Lowards Ihe property acquisilion. With Ihc aLqUi511ion of ili¢ prupcrty. Iliis fund has becn fully ulilisLYI und h¢nLe ihe reslrirled fund bJlancc of £140.783 has been transferred to unrestricted funds. Going con¢¢rn The Irust¢es keep und¢r rcvicw ihc Icvel of free serveS lo ensurc the charily's continuance in future years. Reserves are conslanily monitored and managed to ensure liabiliLies can b¢ mel as thcy fall due. Page 3
TIBETAY YULYGDRL'NG BOY STUDY CENTRE (CELYTRE FOR LEARNIYG TIBET'S NATIVE SPIRITUAL TRADITIOY) REPORT OF THE TRUSTEES FOR THE YF.AR F.NDED 31 MARCH Z025 FUTURE PI.ANS The Coming Year: The TYBSC inlend io continue the prob7rammL of activities from 2024 2025, including planningy for the annual two week Yar-Tsham ( retrcat) at the Ku-SQQLn Ling Gom-pa in Scplcmber 2025. dnd the TYBSC Board members woiild like io ihank <111 Iliii%L who make it possible 10 ¢onlinue running the cliarity? and iiiosi iiiiportanily, supponing the conlinLkaiion ol. profoLuid and precious and Mcn-ngak Rinpoch¢ (Precious T¢aching). As students. we are very foTlunMiC io be able to receive such wondcrfLII, Iinprecedcntcd Tcachings from and we will be forever Ihankfi)I lo hiin for his painstaking pr¢cis¢ Iranslation, his persistent. diligcni dei'iiiii)ii lo his students, his endless enihusiusm and for motivating us all lo a¢'eve our besl and beyond. Wc would like to thank all our um7.eys (pray¢r leadcrs) including one to oncs and wecklv r)?ngchen revision sessions, as wcll as rcgiilArli. ILiiLliiik) IWLLkl}' Il¥LIIII- lor all his hard work as Administrator, for her work organising cn. As always thank you Th¢ puryuso5 01- 'I'YLISL as a charity is to advance the Spiriiual Tradition of Yungdrung Bon, cmb¢dding these exlraoi'dinary ieachings in this purl uf thc world, bringing real, langiblc inncr Irunsformation 10 us in the Wesi. Wc musl rcalisc, that in the past. Wesierners hav¢ travellLd months lo gcl inio Tibet to receive lea¢hingys and Inany htsvc rcturned back wilh some academic infonnglion dccorated wilh some mantras and praycr. Today, Tibet turned up nt our doorslcp and buih sludLnl¥ und the widcr public Can bLnLfit in ¥0 many wjjys from these extraordinarily profound iLuching%. Wc thank caLh af you foi. supEx)rtiiig vision and Ihc purpn%cs of TYBSC Ihrough donations of your lim¢ and mthney, memberships. atiendiniT iirvek Li ',I:'.d Iiiiiiiilily mediE&iions. pariicipalion in Tri weekly Teachings and revisions and privat¢ iunyulimliuns willi E'very ¢vnlriburion uf your limc as well as money help5 and is csscnlial to Ilow Ihc Teachings to coniimue lu bL dviiilJblL Iii iJ% in Ihc unpff¢edenled way Ihey arL orrLfLd now. As siudenls the only way we cdn really %ay Ihank you to is lo prdctice whalLv¢r Teachings we havc received, dilibicnily, pcr8iStanily aiid d¢vo¢ionally. so that the iruc C%4LIILL L)rthc Tcacliitigs of Yiingdrung ljob mdy bc pr¢%crvcd. STRUCTLRF., G()VERliA.YCE AND MAIYAGEMENT Governing do¢ument Thc Tibclan Yiinbidrunb, Bon Study Cefttre UK (TYBSC) was founded by Iihc Spirilual Dircctor of thc charity) in March 1994, Scniiish Churity No. SC023439, ThL Coii%litiJli()n of the TYBSC was endorsed on 2nd Mareh 1994. amcndcd aiid endorsed on 8th January 2011 and 15th May 2022. The purpose of TYBSC is Ilic advonc¢m¢nl of the tradilion knowm a5 Yunbpdruiigi Bon. which is Ihc origiinal spiriiuul Iradition ufTibel and the Tibetan people. All moniLS rJisLd arc for (he odminislration and runnins Losls of ihe chtsrity. Recrultmtnt And Appolntment of new trustees As a qm811 cliaritahle orgunisalion with a low membcrship, Roard members are invited from among existing TYBSC mLinber5 to b¢com¢ Iruslees of the charily, provisionally consulted. notninat¢d and Ihen cl¥clLd at the At]nual Gencrnl Meeting. OrgAnlsation%l 51rueture The charity Iruste¢s are responsible for the general control and management of the charity. The iru¥lees mect tog¢iher as a body on a rcgular b8bis Jjnd ure responsible for all decisions lakLn in rcl&lion to running Ihc community a¢iiviiies providcd by thc Lharity. Key management personnel The IriibleLs mcel lug>cihcr a5 u body on a regular bdSiS and are rcsponliblc for All decisions taken in rclalion to running IhL LommLLnily acliviiies provided by Ihe charily. As sucli. thc Trusiees consider mLmber8 of Ih¢ Board and the Spirilual Director to bc key managcmont personnel. Details of paymcnls madc lo key management personnel are detailed in noie 7. Page 4
TIIIETAN YUNGDRUNC BON sfuDY CEIYTRE (CEIYTRE FOR LEARNING TIBET'S iYATIVE SI*IIIITUAL TIL4DITION) REPORT OF THE TRUSTF.ES FOR THE YEAR ENDED 31 MAiiCH 2025 STRLTCTURE. COVERNANCE AND MANAGEMF.Tr Risk management Ihe tnistees continue to muiiitur ¥nd rcfjnc thL in plkce lo idcnlify 8nd review the risks to which tile clwiry is cxposed and to ensur¢ thftl dpprnprialL coiiiriils are in plyce io miti8&le u]iy ri8k% idenlified. ThL charity h&8 h¢¢n d¢vLIuplli8 a (ktsilLd ritsk rcgistLr recenity whicli will assisi in in(>nilori]ig wid Addrtssin8 any iisks ideiirified. RIFF.RF.Ncf. AM) ADMTrIISTRATTVE DF,TAJts Registered charity numbor SL023439 Prfn¢ip•l address lkne 'l're&swtr Tru8te On Isi June 20?4 hAiidcd iii his resi8nation as TYBSC s¢cr¢l#ry anil thu ViiL Conven(Ir WH.¥ n(kmii)aled by tlie'l'YIISL Ilt)ard io tempornrily cover in thc rol¢ of ting secretary until Ihty i)L'xI AGM. Indcpcndent Ei xfjmlner AmistroTrg Watson LLP Caledrii)ix Pl(Iiise 89 Seaward Stste( Gl&8gow G41 IFIJ Fl#nker HSBC C¥rlh%lL, Cily ()IYIcc carli.sle Cumbria CA3 8JX KL'V li IdiidLJLII)Lllt l)Lrs()nnLI AppiDv¢d by ol'der of t]ie b(wd of trusiC&S on l 6 November 2025 WILI ¥ignLd Lm il% behdlfhy=
[NDEPE)DE EXAMIYERIS REPORT TO THE TRUSTEES OF TIBETA]% yU,GDRUG BON STUDY CENTRE I rcport on thc accounts for the year ended 31 March 2025 set out on pagcs scvcn io sevcntccn. Respective re8ponslbillties of trustees and examlner Thc charity's trustees are respoiisible for the prcparation of Ihc accounts in accordance with the t¢nns of the Charities and Trustee Invcstment {Scotland) Act 2005 and thc Charitics Accounts (Scotland) Regulalions 2006 (as amcnded). The charity'5 trusi¢LS consider that Ihe audit requiremeni of Rcbiulation l O( l )(8) to (c) of the Accoun Rcgulaiions does not apply. li is my rcspoiisibility lo examine the accounts as rcquirLd under Section 44(1)(c) of the Acl and 10 si2tc whcihLr particular mattcrs havc come lo niy attention. Basls of the Independent examiner's report My examinaiion was carricd out in accordance with Regulation I l of the Charities Accounts (Scoiland) Regulations 2006. An examination includcs a rcvicw of tlie accountiiig records kept by th¢ cliarity and a Comparison of Ihc accounis presented with those record5. li also includcs coiisideration of any unusual ilenLS or disclosures in the accounts. and seeking explanations from you ab INslccs conccming }Y such mattcrs. Tho pro¢¢durcs underiakcn do not provide all thc evidence thai would bc rcquired in an audit, and consequently I do no¢ cxprcss an audit opinion on d)e view given by thc accounLS. Independent e%amlner's statement In conneciion witli my examinaiion, no matt¢r has come to my attention . { l) which givcs mc rcasonablc cause to belicvc that, in any matcrial respect, the requirements to kccp <lCLountinbi rLcords it) accordanc¢ with Section 44(1)(a) of Ihc 2005 Aci and Regulation 4 of ihc 2QO6 Accounts RLgulaiions' and to prcparc accuun15 which accord with the accounting records and to comply witli Regulation 8 of the 2006 A¢¢ounts RLgulations hhve not been mct; or (2) to which, in my opinion. atlcniion should be drawm in order to enable a propcr undcrstanding of tl)e accounts to be l'eached. I"IIL 111sLiluLL ol. LliJrl¢r¢d Accountants of Scotland Ann5trong Watson LLP Caledonia House 89 Seaward Street Cjlasgoiv G41 IHJ 16 Novembcr 2025 Page 6
TIBETALY YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) STATEMEINT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME FROM Donations and legacies 10,779 20,764 31,543 19,051 Charitable activi¢ics Practice and teachings 90,552 90.552 78.466 Investment income 5,992 5,992 7,065 Total 107,323 20,764 128,087 104.582 EXPENDITURE ON Charltable activities Practice and teachings 77,467 77,467 87,349 NET IIYCOIME Transfers between funds 29,856 140,783 20,764 (140,783) 50,621) 17.233 14 Net movement In funds 170,639 (120,019) 50,620 17,233 RECONCILIATIOIY OF FUNDS Total funds brou¥ht forward 807,282 120,019 927.301 910,068 TOTAL FUIYDS CARRIED FORWARD 977,921 977,921 927.301 CONTINUING OPERATIONS All inLom¢ and exp¢ndilur¢ has arisen from conlinuing activities. The notes fom part of these financial slalements Pag¢ 7
TIBETAN YUNGDRUNG BOIY STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestrlcled funds Rostrieted funds Notes FIXED ASSETS Tangiblc assels 955,802 955,802 409.600 CURRENT ASSETS Debtors Cash al bank and in hand 10 1,829 186,575 1,829 186,57S 1.437 570,738 188,404 188.404 572.175 CREDITORS Amounts falling due within one year (22.590) {22,590) (11.779) NET CURRENI T ASSETS 165,814 165,814 560,396 TOTAL ASSETS LESS CURRENT LIABILITIES 1,121,616 1.121,616 969,996 CREDITORS Amounts falling duc after morc than one year 12 (143,695) (143,695) (42,695) NET ASSETS 977,921 977,921 927.301 The notes form part of these financial slalemenls Pag¢ 6 continued...
TIBETAIY YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING ThETS NAVE 8PIRITUAL TRADITION) BALANCE SHEET- ¢ODtlnnod 31 MARCH 2025 FUNDS UDrestricted fjts: Geneial fvnd Desi8nat¢d property fimd Repayment of loan l4 822,226 370,750 393,837 42.693 155,695 977,921 807282 Restric1 funds 120,019 TOTAL FUNDS 977,921 927,301 The financial statements wcr¢ approved by thc Board of TnLStces and authorised for Issue on 16 Novembu 2025 and wero signed on ils b¢h&lf by,. The notes forn patt of these fillancial slatemellts Page 9
TIBETA,N YUNGDRUNG BOY STUDY CENTRE {CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Ba515 of preparing the financlAI statement$ The financial statements of the charity. which is a public benefit entity und¢r FRS 102. havc been prepared in accordance with the Chariiies SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {¢ffective l January 2019),, Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicablc in the UK and Republie of IrLland' and thc Charities and Trust¢c Inveslmenl (Scotland) Act 2005. There were no material departurcs from Ihat standard. Assets and liabilities are initially reeognised al historical cost or transaction value unless otherwise stated in the relevant accounlinb policy not¢s. The financial statement5 arc prcsented in Sterling (£). Judgements The charily considers on an annual basis the judgcmenls Ihat are made by Inanagcmcnl whcn applying ils significant accounling policic5 that would have the most significani effect on amounts Ihal are r¢cognised in Ihc rinancial statemcnls. The trustecs consider that Ihcre are no such significant judgements. inancial Reporting St4ndard 102 - reduced disclosure exemptions Thc charity has iaken advanta¥e of (he followinbF disclosurc cxL'inplion in preparinby these financial slalcmcnls. as pemiitted by FRS 102 'Th¢ Financial Rcporting Standard appli¢ablc in the UK and Republic of Ireland,: the requiremcnls of Scciion 7 Sia(cmcnt of Cash Flows. Income All incomL is recogniscd in ihe Sialcmcnl of Financial Aclivilics oncL the cliarily has enliilemenl lo thc funds, it is probablc that Ihc incomc will be re¢civ¢d and ihc amount can bc mcasured rcliably. For legacies, entitlement is taken a5 the earlier of the dale on which either.. the charity is aware Ihat probare or onfirnialion has been giranled, the cstal¢ has becn finaliscd and nolification has been made by the cx¢¢ulorls) lo the Trust Ihal a distribution will bc Inade, or whcn a di5tribulion is received from th¢ eslaic. Rcccipl of a legacy, in whole or in part, is only considered probable when the amount can be mcasured reliably and the ¢harity has been notified of the executor's intention lo make a dislribuiion. Where legacies have been notifi¢d to the charity, or ihe charity is aware of the granting of probate, and the criteria for income recognition have not been mel, then the legacy is a irealed as a contingenl asscl and disclosed ifinalerial. Gift aid reeoverablc is r¢¢ognised in ihe period to which it relates and 15 ineludcd in incorne from charitabl¢ activities. InLome from government granls, whether a 'capilal' granl or 'revenue' granl, i.s recognised when Ihe charity has enlitlcmcnt lo the funds, any perfonnance conditions allached to thc grants havc been mel. it is probablc that the incoine will be receiv¢d and the amount can be measured reliably. Expenditure Liabilitics are recognised as cxpcndilurc a5 soon as Iher¢ 15 a legal or constructivc obligation commilting (he charity to ihal expcnditurc, it is probable that a transfer of economiL b¢n¢fits will be required in seltl¢m¢nl and thc amount of the obligation can be mcasurcd reliably. Expcnditurc is accounted for on an accruals basis and has been classified under headings ihal aggregate all cost related lo the category. Wh¢re costs cannot be directly altribulLd io particular hLadingTrs ih¢y have been allocaied to aLlivities on a basis consistent with the use of resources. Charitable ActivStles Costs of charitable activities are incurred on th¢ charitys operations. including support costs and costs relatin8 to the g7overnancc ofthe charily apportioned to charitable activities. Page 10 continued..
TIBETAY YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITIOLY) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued Governance costs Consists of the costs OF the accounts preparation and other financial services and any expenditure ineurred in eompliance with the legal requirements of the ¢harity. Allocation and apportionment of costs Support CO515 have been allo¢ated between governance cosis and other support cosls. Governance costs comprise all costs involving the public ¢iCLoiinlabilily of the charity and ils compliance with r¢gulalion and good pra¢ticc. These costs include costs related to the independent examination and1¢8al fees together with apportionment of overhead and support costs. Tangible flx¢d Assets Dcprecialion is provided al the following annual rrltes in order lo Mrile each assei over ils eslimated useful life. Freehold property Tonpa statue Straight line over 50 years Siraighi line over 20 years Tangible fixed assets are included in th¢ balance sheet at cost less 8cLumulatcd depreciation and impaimient losses. Impairment of tangible fixed a55et$ At ¢aeh rcportiT]g dale, non-financial assets nol Carried al fair value, likc property and equipmeni, arc rcvicwcd lo dclcmiinc whcihcr there is an indiLdlion that an assct may be impaired. If thcrc is an indiLalion of possible impairmcnt, th¢ recoverablc amouni which 15 the highcr of valiic in usc and the fair value less Cost lo scll. 15 estimaied and compared with the ¢arrying amount. If the recoverable amount is lower. Ihe Carrying amount of the assel is rcduced to ils recoverablo amount and an impairnienl loss is rccoynised immediately in profit and loss. Taxatlon The charity is cxempt from lax on its charitabl¢ activities. Fund accounting UnrLslricl¢d funds Lan be used in accordance with the chariiable objectivcs al Ihc discretion of the Iru51ees. Restricted fiinds can only b¢ u5cd for particular rcslricted purposc5 Within the objc¢ts of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular resrricled purposes. Unrcslri¢t¢d designated fund5 are ndS which have been placed in reservc by the trustee5 to meet filture specifi¢d costs or projecls. Further explanation of the nature and purpose of each fund is included in the notes to the financial slalemenis. Baslc fjnanclal instruments The company only enters into basic financial inslruments transactions that r¢5uIt in the recognition of financi&l assets and liabilities lik¢ other accounts receivable and payable and loans from banks and other third parties. Debi instruments like loans and oih¢r accounts rec¢ivable and payable are initially measured al present value of the fuiure paym¢nts and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, arc mcasured, initially artd subsequently, ai the undiscounted amouni of cash or othcr considoration cxpected to be paid or rcccivcd. Financial assets mca5ured at cost and amorlised cosl ure asscsscd al Ihe cnd ofcach reporting period for evidence of impairment and if found. an impainnent10ss is recogniscd in protit or loss. Financial liabilities are derecognised when the liability is extinguished. that is when the contractual obligation is dischargcd. cancelled or expire5. Pag¢ll continued...
TIBETAN YUNGDRUTr4G BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued Basic flnancial instruments Cash and cash equivalents includes deposits held at call with banks. II%VESTMENT INCOME 2025 2024 Dep05il account interest 5,992 7.065 CHARITABLE ACTIVITIES COSTS Direet Costs (sce note 4) Support ¢o$t% (see Dote S) Totals Practice and teachings 70,394 7,073 77,467 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff cosls Travel costs Stationery, p051age & advertisin8 TLILphonc & WLbsilL Ratcs & insurance H¢at light and power R¢pairs & renewals Misccllancous expenses Depreciation 46,662 671 539 753 3,115 3,031 3,332 276 12,015 46,662 2,277 1,209 498 3,030 1,542 1,665 2,618 12,015 70,394 71,516 SUPPORT COSTS Governanc¢ costs Flnance Totals Practice and teachings 1,037 6,036 7,073 Page 12 continued...
TIBETAIN YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REMUNERATION AND BENEFITS Lana Khemsar Rinpoche, who is a Iruslee of the charity. received remuneralion in hi5 capacity as Spiritual Director of £46.500 (2024: £46,500). There was no additional trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year endcd 31 March 2024. Details of trustees remuneration for the year ended 31 March 2025 are disclosed in note 15. Trustees, expenses There were no Irustees, expenses paid for the year end¢d 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 2025 2024 Wubyes and salarics Social sccurily costs 46,500 162 46,500 162 46,662 46.662 The average monthly number of employecs during the year wus as follows.. 2025 2024 Spiritual Director No employees received emolumenls irt excess of £60,000. During the year. total remun¢ra¢ion of £46,50012024.. £46,500) was paid lo k¢y management personnel. COMPARATIVES FOR THE STATEMEIYT OF FINAYL CIAL ACTIVITIES Unrestrlcted funds Restricted funds Total funds IIYCOME FROM Donalions and legacies 15.141 3,910 19,051 Charitable gctlvlties Practice and teachings 78,466 78,466 Investment income 7,065 7,065 Total 100,672 3,910 104,582 EXPF.NDITURF. ON Charitable activities PraciiLL and tcaLhings 87.349 87,349 IYET INCOME 13,323 3.910 17,233 Page 13 continued...
TIBETAIY YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITIOI NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds Total funds RECONCILIATION OF FUNDS Total ndS broughi fonvard 793,959 116,109 910,068 TOTAL FULYDS CARIUED FORWARD 807,282 120.019 927.301 TANGIBLE FIXED ASSETS Freehold property Tonpa statue Totals COST Ai l April 2024 Additions 479,604 558,216 48,450 S28,054 558,216 Ai 31 March 2025 1,037,820 48,450 1,086,270 DEPRECIATION At l April 2024 Charge for year 101,496 9,592 16,958 2,422 118,454 12,014 Ai 31 March 2025 111,088 19,380 130,468 NET BOOK VALUE At 31 March 2025 926,732 29,070 955,802 At 31 March 2024 378,108 31,492 409,600 io. DEBTORS: AMOUNTS FALLING DUE WITHIIN ONE YEAR 2025 2024 PrLpayment5 and aCCed income 1,829 1,437 Page 14 coniinu¢d..-
TIBETA.N YUNGDRUNG BON STUDY CENTRE (CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITIOIN) NOTES TO THE FINANCIAL STATEI¥IENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 13) Other ¢r¢ditors 12,000 10,590 11.779 22,590 11.779 12. CREDITORS: AMOUh'TS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Bank loans (see note 13) 143,695 42,695 13. LOANS An analysis of the maturity of loans is given below: 2025 2024 Amounls falling due within one year on demand.. Bank loans < l ycar 12,000 Amounts falling beThveen one and two year5.. Bank loans L - 2 years 12,000 Amounts falling due between two and five years: Bank loans 2 - 5 years 36,000 Amounts falling due in more than five years.. Repayable by inslalmenls.. Bank loans > 5 ycars 95,695 42.695 14. MOVEMENT IN FUIYDS Net movement In funds Transf¢r$ between funds At 3113125 At 114124 Unrestricted funds General fund Designated property fund R¢payTnent ofioan 370,750 393,837 42,695 29,856 421,620 (393,837) 113,000 822,226 155,695 807,282 29,856 140,783 977,921 Restricted funds Property fijnd 120,019 20,764 (140,783) TOTAL FUNDS 927,301 50,620 977,921 Page 15 continued...
TIBETAN YUNGDRUNG BOY STUDY CENTRE {CENTRE FOR LEARNING TIBET'S NATIVE SPIRITUAL TRADITION) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS - ¢ontlnued Nel movetnent in fund5, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrictcd funds Gcncral fund 107,323 {77,467) 29,856 Restrieted funds Prop¢rty fund 20,764 20,764 TOTAL FUNDS 128,087 (77,467) 50,620 Compargtivos for movcment in funds Net movement In funds Transfer5 between funds At 3113124 At 114123 Unrestrlcted funds GLnLral lund Designated properly fund Repayment of loan 364.492 386,772 42,695 13,323 {7,065) 7,065 370,750 393,837 42.695 793,959 13,323 807.282 R¢$tricted fund5 Properly fund 116,109 3,910 120,019 TOTAL FUNDS 910.068 17,233 927.301 Comparativc net movemenl in funds, included in the above are as follows.. Incoming resources Resource5 cxpendcd Movcment In funds Unre5trieted funds General fund 100,672 (87.349} 13,323 Restricted fund5 Property fund 3,910 3.910 TOTAL FUNDS 104.582 (87.349) 17,233 GeneT#I Fund The General Fund is availabl¢ to be spent for any purpose of ihe charity which meeis with its charitabl¢ purposes. Page 16 continued..
TIBETAN YUTrIGDRUNG BONI STUDY CENTRE (CENTRE FOR LEARNING'I'IBEI S NATIVE SPIRITUAL TRADITION) NOTES TO THE FIP4ANCIAL STATEMENTS- contillued FOR THE YEAR ENDED 31 I¥IARCH 2025 14. MOVEMENT IN FUNDS- contlnued The Trustees have created the following designad funds: Deslgnated property fund - this relates to funds that have bccn designated by the Irusiee5 to be used for thel property project. This fund was fully ulilised during the year duc lo the acquisition of ihc ncw property las shown in note 8). RepAyment of loan fund - this Fund was Set up with the intention ofcnabling IhL. lollns given lo the charity to be fully rcpdid in aLcordllnce with thcir aged terms. Reslricled Fund Tlie property fund relates io donations received for ihe purchase of a property. This fvnd was fully utilised during the year due 10 Ihc dLqUi4ilion ofihc ncw property. Transfers betsveen funds The designated property lund and Ihc rcslrict¢d fund relaied 10 ihe proposed acquisition of a n¢w property. Due tu IhL propcny buinby acquired during th¢ y¢ar, these fund balances havc been fully uiilised and Ihe b&lancc tyansferred to unresiricied gcneral fvnds. 15. RELA'I'ED PAR'I"Y DISCLOSURES cceived remuncralion in his C8PQLily lls Spiriiual Direclor durinsT ihc ycar lo 31 March 2025 of L46,500 12024.. £46,500}. Payments made to iruslees are all0d by provision in Ihe charity's consliliilion. Page 17