## **MING TAK CHINESE SCHOOL** GOVERNORS’ AND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 1 ## **MING TAK CHINESE SCHOOL** ## **Contents of the Financial Statements** **For the year ended on 31 JULY 2023** ||Page| |---|---| |Legal and administrative Information|3| |Report of the governors|4-5| |Independent Examiner’s report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the financial statements|9-10| 2 ## **MING TAK CHINESE SCHOOL** ## **Legal and administrative Information For the year ended on 31 JULY 2023** |**Head teacher:**|M Mai| |---|---| |**Directors and Trustees:**|W F Cheung| ||P Nam| |**Secretary:**|W F Cheung| |**Registered office:**|61 Burdon Lane| ||Sutton| ||Surrey| ||SM2 7BY| |**Principal place of business:**|Glenthorne High School| ||270 Sutton Common Road| ||Sutton| ||Surrey| ||SM3 9PS| |**Company number:**|03007829 (England & Wales)| ## **Charity registration number:** 1043703 3 ## **MING TAK CHINESE SCHOOL** ## **Report of the Governors for the year Ended 31 JULY 2023** The governors, who are also directors for the purposes of the Companies Act and trustees of the charity, present their annual report and the financial statements for the year ended 31 JULY 2023. The accounts comply with the current statutory requirements, the requirements of the charity’s governing documents and the requirements of the Statement of Recommended Practice (SORP). ## **Objective of the school, Principal activities and organisation of our work** Ming Tak Chinese School, incorporated on 9 January 1995, is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association. It became a registered charity on 30 January 1995 and hence complies with charity regulations. The school’s object and its principal activities continue to be that of providing Chinese language education and promoting Chinese culture to children and adults from both Chinese and other ethnic communities. The school operates on Saturdays only during the normal school terms. The head teacher is responsible for the daily running of the school and the governors meet regularly to discuss and determine the main issues and policies. ## **Review of the School’s performance and policies** The school operated successfully during the year under review and this success is expected to continue. In the calendar year to 31 JULY 2023, the school had 319 (2022 – 272) students. The school continued its policy of criminal records check of all teachers and administrative staff members. ## **Financial results** The School’s performance and financial position were stated in the financial statements on pages 6 to 9. They show an income of £121,866 for the year. Expenditure for the year was £80,885 which led to a profit for the year of £40,981. The major expenditure items were teaching staff wages of £28,142 and the renting of premises of £25,000. All donations received were spent on the purchase of school teaching equipment, library books and other school expenses. ## **Reserves** 4 The charity holds only a pn￿¢￿t amount of funds in order to cater for unforeseen events and aims to approximately match income and exp￿dItUre OD an ongoing b&sis. The governors consider the financial position of tbe school to be satisfactory. MING TAK CHINESE SCHOOL Report of the governors for the yeAr ended 31 JULY 2023 Direelors and trustees The dircctors of the company during the year were: W F Cheung PNam The trustees of th¢ School during thc ycar wcrc'.- WF Cheung, P Nam, Hclen Keng, Pedro Cbim and Sam Pun The directors are also the governo￿ and the trustees of the school. They have no beneficial interests in the company. They work for the school on an entirely voluntary basis. The governors and tNstees are nOM￿llY appointed at the Annual General Meeting. There are no other trustees other than those whose names are listed on page 3. The Board has the power to appoint additional tnjstees if it considers fit to do so. This report has been prepared in accordance with the special provisions Part 15 of the Companies Acl 2006 relating to small companies. ON BEHALF OF THE BOARD AND TRUSTEES P Nam - Director Date: 15th November 2023 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MING TAK CHINESE SCHOOL** I report to the trustees on my examination of the financial statements of Ming Tak Chinese School (the charity) for the year ended 31 JULY 2023 ## Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2 the financial statements do not accord with those records; or 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. K Trigg Newvoiceuk Ltd 1 The Frenches Redhill RH1 2HF Dated: 15th November 2023 6 ## **MING TAK CHINESE SCHOOL INCOME AND EXPENDITURE ACCOUNT** **FOR THE YEAR ENDED 31 JULY 2023** |||**2023**|**2022**| |---|---|---|---| |**INCOME**|**Activities in further of the charity's**||| ||**objectives**|**£**|**£**| ||Fees|104,745|75,775| ||Donations Received|11,840|6200| ||Bank Interest Received|2,013|64| ||Book and Stationery Sales|3,098|3,670| ||CNY|170|0| ||Ku Fu & Dragon Dance|0|50| ||TOTAL INCOME|121,866|85,759| |**RESOURCES**|**Activities in further of the charity's**||| |**EXPENDED**|**objectives**||| ||Teaching Staff Wages|28,142|22,786| ||CNY Costs/loss|1,258|0| ||Text Books|708|4,800| ||Rent and Rates|25,000|12,484| ||Travelling and Subsistence|3,059|1,441| ||Printing|10,297|2,276| ||Office Stationery|648|813| ||Professional Fees|858|780| ||Bank Charges|80|40| ||Depreciation|0|0| ||Training|0|0| ||Insurance|2,671|2,248| ||Repairs and Maintenance|2,310|2,572| ||Sundry Expenses|2,604|1,524| ||Charitable Donations|3,250|0| ||TOTAL RESOURCES EXPENDED|80,885|51,764| ||**NET INCOME FOR THE YEAR**|**40,981**|**33,995**| ||Accumulated fund brought forward|195,700|161,705| ||Accumulated fund carried forward|246,646|195,700| 7 MING TAK CHINESE SCHOOL BALANCE SHEET ASAT 31 JULY 2023 31.721111 31.72022 FIXED ASSETS T&DEible Amets CURiiLNT ASSETS Stocks Prepayments Cash at bank alld An hand 290.994 CREDITORS Deferred tttLotAe Other creth.iors Aecrua]s 37.650 39,965 6.698 44,348 40.743 NET CURRENT ASSETS Total Asgets less Current Li¥bilities 246.646 195.7CiI PROVISIOYS FOR LIABILII"ID.S NET ASSETS 195 700 A¢¢umul8*d FundB 246.646 19 Thc dirwtor is saiisfied that thE company is cntitled to exemption from the tequirement to obtain att under 8ection 477 of the CompHnies A¢t 2006. Thc m¢mber has not required the company to obtsin ￿ audil in with seetion 476 of ihe Act. The director acknowledges his responsibililies for complying with the requiremenlg of the Companies Act 2006 with respect to accounting records and the pr¢paNion ofaccouni& The a¢counl8 have bccn prcparcd in accordall¢e with thc provisions io Part 15 of the Cotnpanies Act 2006 applicable to companies, subject to the small companies. re8kmC. chalf of thc Bo PNam Director, Governor and tnLStee Date.. 15 Novemb￿ 2023 ## **MING TAK CHINESE SCHOOL** ## **Notes to the Financial Statements for the year ended 31 JULY 2023** ## **1 Accounting policies** ## **Accounting conventions** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Incoming resources** Incomes represent fees from students and incomes from donation and other charity events. They are included in the year to which it relates. ## **Resources expended** Expenditure is included in the statement of financial activities in the year to which it relates, inclusive of VAT which can not be recovered. ## **Tangible fixed assets** Depreciation is provided at the following rate in order to write off each asset over its estimated useful life. Fixture, fittings and equipment: 25% on reducing balance ## **2 Tangible fixed assets** |||**Fixtures, fittings**| |---|---|---| |||**And equipment - Lion Head**| |||**£**| |**Cost**||| |Balance brought forward at 1 August 2022||
615| |Additions||0| |Disposal||0| |Balance carried forward at 31 July 2023||**615**| |**Depreciation**||| |Balance brought forward at 1 August 2022||615| |Charge for the year||0| |Disposal||0| |Balance carried forward at 31 July 2023||**615**| |Net book value|As at 31 July 2022|0| |Net book value|As at 31 July 2023
|0| |||===| 9 ## **MING TAK CHINESE SCHOOL** ## **Notes to the financial statement for the year ended 31 JULY 2023 (continued)** ## **3 Governors** No governor received any remuneration as governors during the year and any of the previous years. ## **4 Taxation** There is no corporation tax liability as the school is a non-profit making organisation. ## **5 Company status** The school was incorporated as a company limited by guarantee. The guarantee is limited to £10 each on the governors who are in office at the time of any liquidation. The company is a registered charity. The governors are also trustees of the registered charity. - 6 Employee Numbers The average number of employees for the year was 22 (2022 was 22). 10