Charity registration number. 1015620 FUNG SHAN FOUNDATION STRATEGIC REPORT, TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Sloane & Co. LLP cbarttt certi Accountants & Business Adviso Office 015 30 Great Guildford Street SEI OHS
Fung Shan Foundatlon Contsnts Page Trustees, R8POrt Independ8nt Examinefs Report Statement of Financral Adivities Statement of Financial Position Notes to the Financial Statements 7-10 The following pages do not fomi part of the statutory accounts: Detsiled Statement of Financial Activibes 11
Fung Shan Foundatlon Tnths. Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objectives and Activities Aims and Objectives Under the terms of the trust deed the trustees are empowered to apply the funds of the charity and any income thereof to or for such charity or charities or for such charitab18 purpose or purtK)ses in such proportions or in such manner in all respects as in their absolute discretion they think fil. In plannlng the objectiV8s for thè year the trustees hav8 kept in mind the Chaiity Commission guhjance on publi¢ benefit at the trustee rneetings. Publlc Beneflt The trustees confimi that they have complied vth the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charrty Commission's guidance on public benef Financial Review Financial Posftlon Details of the Foundation's accounts are contained on pag8s 5 to 6 of this reporL Reserves Policy The trustees revi8w the levd of its free reserves regularly to ensure that the charTty WlId be able to continue th8 current activities in the event of a signtficant dnjp in funding. Prlnclpal Rlsk and Uncortalnties The trustees have examined th8 major strategic and operational risks which the charlty faces and confimi that systems have been established to 8nabl8 regular reFQrts to be produced so that the necessary steps can be taken to lassen these risks. Structure, Governance and Management Govemlng Document Fung Shan Foundation is constituted by a Deed of Trust dated 22 October 1992. Charity status The Foundation is registerèd with ths Charity Commission. number 1015620. Page I
Fung Shan Foundatk*n Trustees. Report (continued) For The Year Ended 31 March 2025 Rèference and Admlnistratlvè Detai18 Trustees Mr Joseph Ho Mr Ming Chi Kwok- Chaimian Mr Lawrence Lee Mr Shucai Liang- (Appointed 27106r2024) Rév Ka Leung Shin - Secretary (Appointed 2710612024) Mr Edward Tsui - Treasurer Rev Fr Timothy Dean {resigned 2710612024) Rev Fr Eddie Woo (resigned 2710612024) Charity Number 1015620 Princlpal Address Office 015 30 Great Guildford Street, Borough London SE1 OHS Indepondent Examlnor Sloane & Co. LLP Chartered Certrfled Accountsnts & Buslness Advisors offi 015 30 Great Guildford Str8et Borough, London SE1 OHS
Fung Shan Foundath)n Trnstees. Report (contlnued) For The Year Ended 31 March 2025 Statement ot Trustees. Responslbllities The trustees are responsible for preparing the Trustees. ReFrf)rt and the financial statements in accordance with applicable law and United K&ngdom AoUnting Standards (United Kingdom Generally Accepted Accountin9 Practice). The law applicable to charities In England and Wales requires tha trustees to prepare financial stat8ments for each financial year which grve a true and fair wew of the state of affai of the charity and of the incoming resources and appllcation of r9sourGes of th8 charity for that period. In preparing the financial statements the trustees ar8 required to: select suitable accounting policies and then appty them consistenty. obs8rv8 th8 methods and principles in the Charity SORP,. make judgments and accounting estimates that are reasonable and prudenL' and prepare the financial statements on the going concem basis unless it Is inappropriate to presume that the charity will continu8 in busin8SS. The truslees are responsible for keeping ad8quate accounting records which disclose with reasonab18 accuracy at anytime th8 financial position of the charity and to enable them to ensure that the accounts comply with th8 Charities A 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the chartty and hence for tsking reasonable steps for the prevention and detection of fraud and other irregulartties. The trustees, report was approved by the board of trustees and signed on its behalf by: Mr Ming Trustee 30 January 2026 Page 3
Fung Shan Foundatlon Independent Examlnees Report to the Trustees of Fung Shan Foundation For The Year Ended 31 March 2025 I report to the trustees on my examination of th8 accounts of Fung Shan Foundation (Ihe Trust) for the year ended 31 March 2025. Rosponslbilities and Basls of Report As the charity IrLJStees of the Trust you are responsible for the preparation of the accounts in accordanGe with tha reqLTrirements of the Chartti8s Act 2011 (Ihe Acr). I report in respect of my examination of th8 Trust's ac¢ounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Chartty Commission under section 145{5}(b) of the Act. Independent Examinerfs Statement I have completed my 6xamination. I confirm that no material matters have come to my attention in connection with the examination glvlng me cause to bd18ve that in any material respect: accounting records were not kept in respect of th8 Trust as required by section 130 of the ACL or 2. the accounls do not accord with Ihose records" or 3. the accounls do not comply wtth the applicable requirements con¢eming the forni and contents of accounts set OLrt in the Charttses (Acwunts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair viev/ which is not a matter considered as part of an independent 8xamination. 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 acUnts to be reached. 30 January 2026 Sloane & Co. LLP Chartered Certtfied AccDuntants & Business Advisors Office 015 30 Great Guildford Stre8t Borough, London SE1 OHS Page 4
Fung Shan Foundatlon Statement of Financial Activitles For Tho Year Ended 31 March 2025 2025 2024 Unrestrictsd Unrestrictod funds funds INCOME AND ENDOWMENTS FROM: Donations and legacies Inv8Stm8nts 1,599,712 26,218 26.627 26,627 1,625,930 EXPENDrruRE ON.. Charitable activities (19,311) (11.200) INCOME 7,316 1,614,730 NET MOVEMENT IN FUNDS 7.316 1.614,730 RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 1.614.731 1.622.047 1,614,731 The notes on pages 7 to 10 fomi part of these flnanclal ststsments. Page 5
Fung Shan Foundatlon Statomont of Financial Positlon As At 31 March 2025 2025 Unrestrlcted funds 2024 Total funds Notes FIXED ASSETS Investment Properties 525.000 525,000 525.000 525,000 CURRENT ASSErs Cash at bank and in hand 1,098,247 1,090,931 1,098.247 1.090,931 {1.200) (1.200) Credltors: Amounts Falling Due Wthin One Year NET CURRENT ASSETS (LIABILrriES) 1.097.047 1,089,731 TOTAL ASSETS LESS CURRENT LIABILrriES 1,622.047 1,614,731 NET ASSETS 1,622,047 1,614.731 FUNDS OF THE CHARrrY Unrestricted Funds 1.622,047 1.614.731 TOTAL FUNDS 1.622.047 1,614,731 On behalf of the board Mr Ming Chi Kwok Trustee 30 January 2026 The notes on pages 7 to 10 fomi part of these financial statements. Page 6
Fung Shan Foundatlon Notes to the Financial Statements For The Year Ended 31 March 2025 1. General Inforniatlon Fung Shan Foundation is an unincorporated charity registered vath the Charity CommissF(Jn, registered chaiity number 1015620. The principal address is Office 015. 30 Great Guildford Street, Borough. London. SE1 OHS. 2. Accounting Pollcles 2.1. Basls of Preparatlon of Flnancial Statements The financial ststements have been prepared in accordan wryth the Chariti8s SORP IFRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng 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 Yhe Financial Reportir¥J Standard applicable in the UK and Republic of Ireland. and the Charilies Act 2011. The charlty Is a Puljic Benefft Entty as defined by FRS 102. 2.2. Going Concern Disc105ure The trustees have not identffied any material uncertainties related to events or conditions that may cast sMJnrficant doubt about the charity's abilty to continue as a going (x)ncern. 2.3. Incomlng Resources Income is r8cognised in the Statement of Financtal Activities (SOFA) when the charity becomes legally entitled to the Income. it is probable Ihat the income will be receiv. and tho amount can be measured reliably. Donations and Legacles Donations are recognised when received or when the charity has been notified in writing of entilement, provided that the amount can be measured reliably. Inveslment Income Investment incoma is recognised on an aCC81S basis when r8C8ivabl8. 2.4. Resources Expended Expenditure is rècognised in the SOFA on an accruals basis when there is a legal or constructive obligation to make a paym8nt, it is probable that settlement will be required. and the amount can be measured reliably. Charitable Activities Exp8nditur8 illcLbrrèd dlrectly in ddivering the charivs objects. induding staff costs, materials. project delNery expenses, and directly attribLrtablo support and g0Veman costs. Fundraising Costs Gosts incurred in raising voluntary In¢cne. induding staff costs, publiaty. and event expanses. recognised when Incurred. Governance Costs These include audit fees and other expenses associated with compliance and ststutory obligations. 2.5. Investmont Propertles All invéstment properties are carried at fair value determined annually and derived frorn the current matet rents and invastment prop8ty yièkls for comparable r6al 8Stat8. adjusted rf necessary for any difference in the nature, location or cond5tion of the specific asset. No depreciation is provided for. Changes in fair value are recogni5ed in the ststement of financial activtbes. Page 7
Fung Shan Foundatlon Notes to the Financial Ststements (continued) For The Year Ended 31 March 2025 2.6. Cash and Cash EquNalents Cash and cash 8ouivalents are basic financial assels and indude cash in hand and deposits held al call with banks, other short-temi highly liquid investments that mature in no more than three months from the date of acquisition and ar8 readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 3. Income from Donations and Legacies 2025 2024 Unrnstrlcted Unrestrlcted funds funds Donations and giFIs: Donations from individuals 1,599,712 4. Investmont Income 2025 2024 Unrestricted Unrestricted funds fund5 Bank interest r8ceivable 26,627 26.218 5. Support Costs 2025 General administration.. Charitable donations Governance costs: other governance costs 19,000 311 19,311 2024 General administration: Audit fees Charitsbl8 donations 1.200 10.000 11.200 Page 8
Fung Shan Foundatlon Notss to the Flnancial Ststements (contlnued) For The Year Endod 31 March 2025 6. Averagè Number of Employees Average number of employees during the year was: NIL (2024: NIL) 7. Investment Propgrty 2025 Falr Value As at 1 April 2024 arKI 31 March 2025 525,000 8. Creditors: Amounts Falllng Due Wlthln One Year 2025 2024 Ac¢ruals and deferred income 1.200 1.200 9. Movemenl In Funds A5 at 1 April 2024 Asat31 Exponditure March 2025 Income Unrnstrictod funds General- General unrestricted fund 1,614,731 26.627 (19,311) 1.622,047 Total fund8 1.614.731 26,627 (19,311) 1.622.047 As at 1 April 2023 Asat31 Expendlture March 2024 Income Unrestrlcted funds General.. General unrestricted fund 1.625.930 (11.200) 1,614,731 Total funds 1.625,930 (11,200) 1,614,731 10. Transactions wlth Trust5 None of the Irust8es received any remun8rydtion or any Other benefits from an 8mployment with the charity or a relaled entity during the current or previous year. No trustè8 8xpanses hav8 b88n incurred. Page 9
Fung Shan Foundatlon Notss to the Financial Statements (conttnuedl For The Year Ended 31 March 2025 11. Related Party Disclosurns There have b8en no related party transactions in the reting peri thai requir8 disclosure. Page 10
Fung Shan Foundatlon Detailed Ststement of Flnanclal Activlties For Tho Year Ended 31 March 2025 2025 2024 Total funds Total funds INCOME AND ENDOWMENTS FROM: Donatlons and legacies Donations from individuals 1,599,712 1,599,712 Investments Bank interest receivable 26.627 26.218 26.627 26.218 26.627 1.625.930 EXPENDITURE ON: Audit fees Charitsble donations Other governance costs {1,200) (10,OOOj (19,000) (19,311) (19.3111 7,316 (11,200;, (11.2001 1.614.73fr NET INCOME Pag¢ll