REGISTERED CHARITY NUMBER: 1011647
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2025
for
Wah Kwong Chinese Association
Wah Kwong Chinese Association
Report of the Trustees
for the Year Ended 31 December 2025
The trustees present their report with the financial statements of the charity for the year ended 31 December 2025. 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 principal objectives of the Association continues to be those of promoting through charitable activities for the benefit of the inhabitants of the city of Leeds and its surrounding regions, particularly those of chinese origin, the advancement of education, relief of poverty, sickness, distress and the provision of recreational facilities aim to improve the condition and well beings of life of such inhabitants.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1011647
Principal address
2nd Floor 84-86 North Street Leeds Yorkshire LS2 7PN
Trustees
Ms SL Tai (appointed 1.1.25)
Approved by order of the board of trustees on 30 June 2026 and signed on its behalf by:
Ms SL Tai - Trustee
Page 1
Independent Examiner's Report to the Trustees of Wah Kwong Chinese Association
Independent examiner's report to the trustees of Wah Kwong Chinese Association
I report to the charity trustees on my examination of the accounts of Wah Kwong Chinese Association (the Trust) for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S.H.YIK & CO.
The Association of Chartered Certified Accountants
30 June 2026
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Wah Kwong Chinese Association
Statement of Financial Activities for the Year Ended 31 December 2025
| 31.12.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 732 Other trading activities 2 50,366 Investment income 3 6,143 Total 57,241 EXPENDITURE ON Raising funds 56,659 NET INCOME 582 RECONCILIATION OF FUNDS Total funds brought forward 342,409 TOTAL FUNDS CARRIED FORWARD 342,991 |
31.12.24 Total funds £ 72 94,194 18,934 113,200 97,056 16,144 326,265 342,409 |
|---|---|
The notes form part of these financial statements
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Wah Kwong Chinese Association
Balance Sheet
31 December 2025
| 31.12.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 212,004 CURRENT ASSETS Debtors 7 1,705 Cash at bank 154,073 155,778 NET CURRENT ASSETS 155,778 TOTAL ASSETS LESS CURRENT LIABILITIES 367,782 CREDITORS Amounts falling due after more than one year 8 (24,791) NET ASSETS 342,991 FUNDS 9 Unrestricted funds 342,991 TOTAL FUNDS 342,991 |
31.12.24 Total funds £ 212,144 1,747 131,068 132,815 132,815 344,959 (2,550) 342,409 342,409 342,409 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2026 and were signed on its behalf by:
SL Tai - Trustee
The notes form part of these financial statements
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Wah Kwong Chinese Association
Notes to the Financial Statements for the Year Ended 31 December 2025
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.
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
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.
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continued...
Wah Kwong Chinese Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Fundraising events | 50,366 | 94,194 | |
| 3. | INVESTMENT INCOME | ||
| Interest receivable - trading | 31.12.25 £ 1,337 |
31.12.24 £ 1,506 |
|
| Curr asset inv income | 4,806 | 17,428 | |
| 6,143 | 18,934 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricte fund £ |
|---|---|
| Donations and legacies | 72 |
| Other trading activities | 94,194 |
| Investment income | 18,934 |
| Total | 113,200 |
| EXPENDITURE ON | |
| Raising funds | 97,056 |
| NET INCOME | 16,144 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 326,265 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 342,409 |
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continued...
Wah Kwong Chinese Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
| 6. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1 January 2025 and 31 December 2025 211,446 8,216 DEPRECIATION At 1 January 2025 - 7,518 Charge for year - 140 At 31 December 2025 - 7,658 NET BOOK VALUE At 31 December 2025 211,446 558 At 31 December 2024 211,446 698 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 £ Prepayments 1,705 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.25 £ Other creditors 24,791 9. MOVEMENT IN FUNDS Net movement At 1.1.25 in funds £ £ Unrestricted funds General fund 342,409 582 TOTAL FUNDS 342,409 582 |
Totals £ 219,662 7,518 140 7,658 212,004 212,144 31.12.24 £ 1,747 31.12.24 £ 2,550 At 31.12.25 £ 342,991 342,991 |
|---|---|
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continued...
Wah Kwong Chinese Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 57,241 (56,659) TOTAL FUNDS 57,241 (56,659) Comparatives for movement in funds Net movement At 1.1.24 in funds £ £ Unrestricted funds General fund 326,265 16,144 TOTAL FUNDS 326,265 16,144 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 113,200 (97,056) TOTAL FUNDS 113,200 (97,056) |
Movement in funds £ 582 582 At 31.12.24 £ 342,409 342,409 Movement in funds £ 16,144 16,144 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 326,265 326,265 |
Net movement in funds £ 16,726 16,726 |
At 31.12.25 £ 342,991 342,991 |
|---|---|---|---|
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continued...
Wah Kwong Chinese Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
9. MOVEMENT IN FUNDS - continued
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 | |||
| General fund | 170,441 | (153,715) | 16,726 |
| TOTAL FUNDS | 170,441 | (153,715) | 16,726 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
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| Wah Kwong Chinese Association | ||
|---|---|---|
| Detailed Statement of Financial Activities | ||
| for the Year Ended 31 December 2025 | ||
| 31.12.25 | 31.12.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Subscriptions | 732 | 72 |
| Other trading activities | ||
| Fundraising events | 50,366 | 94,194 |
| Investment income | ||
| Interest receivable - trading | 1,337 | 1,506 |
| Curr asset inv income | 4,806 | 17,428 |
| 6,143 | 18,934 | |
| Total incoming resources | 57,241 | 113,200 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sundries | 2,926 | 2,812 |
| Exceptional items | 51,882 | 93,401 |
| Support costs | 54,808 | 96,213 |
| Management | ||
| Sundries | 1,112 | 129 |
| No description | 139 | 174 |
| Other | 1,251 | 303 |
| Depreciation of tangible fixed assets | 600 | 540 |
| Total resources expended | 56,659 | 97,056 |
| Net income | 582 | 16,144 |
This page does not form part of the statutory financial statements
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Wah Kwong Chinese Association
Contents of the Financial Statements for the Year Ended 31 December 2025
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |