CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 1-1-2021 Perlod start date To. 31-12-2021 (Perfod end date) Charlty name: YOUN HWA SA Charity registration numbor: 1047554 Objectives and Activitles SORP reference Para 1.17 Summary of the purposes of the charity as set out in its governing doGument ITS MAIN OBJECTIVE IS TO PROMOTE THE BUDDHIST RELIGION TO THE TRADITIONS OF THE CHOGEJONG SCHOOL OF BUDDHISM AS FOLLOWED IN KOREA AND ESTABLISHMENT OF A BUDDHIST CENTRE OR NUNNERIES AND RETREATS IN THE UNITED KINGDOM. A CENTRES HAS BEEN ESTABLISHED IN KINGSTON UPON THAMES, SURREY WHERE THE ACTIVITIES ARE CARRIED ON. Summary of the main actwities in relation to those purposes for the public benefit, in particular. the activities. projects or services identified in th8 accounts. Statemant confimiing whelher the trustees have had regard to the guidance issued by the Charity Commisslon on public benefit Para 1.17 1.19 P8r8 1.18 Addltional inforniation (optlonal? You ma ch005e to include further statements where relevant about: SOFIP referenfje PER ACCOUNTS (TO PROMOTE BUDDHIST RELIGION) P8rn 1.38 PoliGy on grant making PER ACCOUNTS (ONLY FREEHOLD PROPERTY HELD) Para 1.38 Pollcy on social investment including program related inveslment Para 128 Contribution made by volunteers
other Achievements and Performance SORP referenGe KOREAN BUDDHISTS HAVE PARTICIPATED AND ENJOYED WORSHIPPING AT THE FREEHOLD PROPERTY IN KINSTON-UPON-THAMES AND THE CHARITY ASSISTS IN MEETING KOREAN TEMPLE EXPENSES. Summary ofthe main achievements of the charity, idéntifying the difference the charlty's worf( has made to the circumstances of its beneficiaries and any wder benefits lo society as a whole. P8r8 120 Addltlonal infomiation (optlonal) You ma choose to include further statem6nts where relevant about.. Achievements against objectives set P8r8 1A1 Performance of fundraislng activities against objectives set Para l Al Investment performance against objectives Para IA1 Other
Financial Review Review of the charitys financial position at the end of the eriod Statement explaining the policy for holding reserves ststin are held Amount of reserves held Reasons for holding zero reserves Details of fvnd materially in deficit Explanation of any uncertainties about thè charity continuing as a going concem Para 1.21 PER ACCOUNTS (THE CHARifY HAS SURPLUS OF UNRESTRICTED FUNDS OF £348.001 Para 1.22 Para 1.22 Paffj 1.22 Para 1.24 Para 123 Additional Inforniatlon (optlonal) You ma choose to include further statements where relevant about: Donations from the devotees attending the centre. The charity's principal sources of funds (includlng any fundralsing) Para 1A7 Investment policy and objectives including any social inve5trnent policy adopted Parn 1A6 A description of the principal risks facing the charity Para 1A6 Other
' Structure, Governance and Management Description of chariws trusts.. Type of goveming document Parn 125 TRUST DEED How is the charity constituted? lty.g unincorporated disocialiDn. CIO Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees Para 1.25 TRUST Par8 1.25 FORMAL ELECTION Additional Infomiation (optional) You ma choose to include further statements where relevant about. Policies and procedures adopted for the induction and trainlng of trustees Para 1.51 The charity's organisational structure and any wider network with which the charity works Pdra 1.51 Relationship with any related parties Pard 1.51 Other Reference and Admlnlstratlve details Chari name Other name the chari uses istered Chari number Charity's principal address YOUN HWA SA 1047554 5 WATERS ROAD, KINGSTON UPON THAMES SURRY Kf1 3LW
Names of the charity tNstees who manage the charity Dates a•d If not lor whole ar Trustoe namg Offlco Ilf any) CHAIRPERSON Name of pernon lor body) entitled toa oint tru$t80 rfan IHPARK DSPARK S WLEE Y O FINLEY GDKANG KBPARK NGJOO YJCHOI S Y JEONG Y S HWANG SCYANG 10 11 12 13 14 15 16 17 18 19 20 orate Injstees - names of the directors at the dat6 the re Dlrector nama ortwasa Nam8 of trustees holding tille to woperty belonging to the charity Truste¢ nam¢ Dates acted If not for who ar
Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects of the Gharity on whose behalf the assets are held and how this falls within the custodian tharity's objects Details of arrangements for safe custody and segregation of such assets from the CharItS own assets Additional infomiatlon (optional) Names and addresses of advlsers (Optlonal Infomiatlon) Type of Name Address adviser Accountants Krish Jermyn Unit 2, Bradbury Court, Lyon Road. Harrow HA14BY. Name of chief executive or names of senior staff members (Optlonal Infomiatlon) Exemptions from disclosure Reason for nondisclosure of ke rsonnel details Other o tional information
Declarations The trustees declare fhat they have approved the trustees, report above. Signed on behalf of the ¢harlty's trustees Signature{s) Full name(s) Posltlon (eg Secretary> Chair, etc IN HA PARK GHAIRPERSON Date 28 DECEMBER 2022
YOUN HWA SA FINANCIAL STATEMENTS 31 DECEMBER 2021 CHARITY REGISTRATION NUMBER: 1047554
YOUN HWA SA FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Pages Charlty information Trustegs, annual report Independent auditgvs repo.rt to the members ststement of financial activities Statement of ftnanclal poslllon Nol88 to the financial ststements 61010 Tho fi)Ilowlng pages do not forni part of th• finan¢lal stalem•nts Delalled statement of financial a¢tfvilie8 12
YOUN HWA SA MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS YEAR ENDED 31 DECEMBER 2021 Reglstered Gharlty nome YOUN HWA SA Charity ragistratlon number 1047554 Charlty's prlnclpal address 5 Waters R08d Klngston Upon Thames Surrey KT13LW Trustee$ Mr In Ha Park {Chalrperson} Mrs D S Park MrSWLee Mrs Y Flnley MrGDKang MrKBPa MrNGJoo MrYJChoi Mrs Soon Yong J8ong Mrs Y S Hwang MrSCY8ng Independent examlner Krfsh Jemiyn Chartered Certified accountants Unit 2, BradburyB Court Lyon Road Harnw, Middbsex HA12BY Bankers Lloyds Bank Kingston U Thames 1 Legg St Chelmsford Essex
YOUN HWA SA MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS YEAR ENDED 31 DECEMBER 2021 The tnjstees present thelr report and the finandal statements of the charlty for the year ended 31 December 2021. Trustees The tNstees named on page 1 have seNed throughout Ihe pe)it)d. ObJectlves and actlvltles YOUN HWA SA Is a ch8rltable trust constlluted by Ihe Tnjst Deed and its maln oblects are to promote the Buddhlsl rellglon prtncipally accordlng to the tradiuons of the Chogejong School of Buddhism as followed in Kore8 and eslablishm8nt of a Buddhist centre or nunneries and retreats in the United Kingdom and elsewhere. Flnanclal revlew Korean Buddhists have participatBd and enjoyed worshipping at the freehold proparty In Kinggton-Upon-Th8mes and the charity asslsts In meetlng Korean Temple expenses. Statement of trustees, responsibilities The trustees. who are also directors for Ihe purposes of company Faw, are responslble for preparing the Trustees Annual Report and the financial statements In accordance with the Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland (FRS 1021 (effeGtive from 1 Jonuary 2015). Compary law requlres the charfty trustees r8qulred to prepare financial statements for each financlal year, whlch give a true and fair view of the stste of affalrs of the charity and of the incoming resourGes and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: select sultable accoUnng pollcles and then apply Ihem consistenlly, observe the methods and principles in the Charities SORP: m8ke judgements and estimales Ihat are reasonable and prudenl- stale whether applicabfe UK A¢Gounting Standards have been followed, subject to any malerlal departures dlsclosed and explained in the financial slalements- prepare the fiftanclal statements on Ih6 going concem basis unless it is inappropriate to presume that the charitsble company wtll continue in operation. The truslees 8re responsible for keeplng adequate aGGounting Tecords that are sufflclent lo show and explain the charity's transactions and dlsclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements Comply wth the FRS 102. They are also responsible for safeguarding the assets of the charfty and hence for taklng reasonable steps for the prevention and detedon of fraud and other irregularllles. statsment of trusteos, rasponslbllltlès This rèport has been prepared in accordance Wkth the provisions applicable to companies entsllèd 10 small companies, exemption. The trustees, annu81 report W88 approved on 141h March 2023 and signed on behalf of the board of trustees by: In Ha Park Tnjstee
YOUN HWA SA INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUN HWA SA YEAR ENDED 31 DECEMBER 2021 I report on the aGcounts of the charity for the year ended 31 Decambar 2021 set out on pages 6 to g. Re¥pe¢tlve responslbllltles of trustees and Independent The charills trustees are responsible for the preparation of the accounts. The charitys trustees consider that an audit is not required for this year under section 144 of the Chariues Act 2011 (the Charities Act}, and that an independent examination is needed. Havlng satlslted myself that the charity ts not subJeGt to audlt under company law and ts eligible for independent examinaon. It18 my responsibility to- examine the accounts under seclion 145 nf the Charities Acl. lo follow the procedures lald down In the General Directions given by the Charity Commission (under seclson 145151 Ibl of lh8 Charit(es Act); and to state thether particular matters have come to my attention. Bas of kndependent examlnevs statement My examination was carried out in awrdance wlth the General Directions given by the Charity Commission. An examination inGludes a T8view of the accoLtnUng records kept by the ChatY and a comparison of the accounts prgsenled with those records. It a150 includes consideration of any unusual items or disclosur&s in the accounts. 2nd seeklng explanatlons from you as Irustees conGeming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audlt, and consequentty I do not express an audll oplnlon on whether the accounts present a 'true and fair view. Independent examlnerfs statement In connedon wlth my examination. no Mateal matters have Gome to my attenuon, whlch glves ma cause to believe that In any mateTlal respect the a¢Gounting records were not kept in accordance section 130 of the Charities Act; or the accounts did not accord with the accounting records.. or the accounts dld not comply the appllcable requirement conceming the fom and content of account8 set out in the ChalIeS (Accounts and Reports) Regulatsons 2008 other than any requirement that the accounts give a 'true and fairf view which is not 8 matter considered as part of an independent examination. I hav& Gcffie across no other mattern In connection wllh the examlnallon to whlch attenlon should be dral thls report In order lo enable a proper underslandlng of the accounts lo be reached. Independent examlner Krish Jemiyn Chartered Certified ACUntsnts Untt 2. Bradburys Court Lyon Road, Harrow, Mtddles8X HA12BY 141h March 2023
YOUN HWA SA STATEMENT OF FINANCIAL ACTIVITIES 31 DECEMBER 2021 2021 2020 Total funds Total funds Nots Incomo and end+)wrn¢nts Donations Investsnent income 27.157 24,332 14 Total Income 27,161 24,346 Expendlture Expendlture on ralsing funds.. Costs of raising donations Costs of other activitles 5,400 9,755 15.155 5.400 10,131 15.531 Totsl exp•ndltur• Net Income and net movement In funds 12,006 8,815 Reconclllatlon of funds Total funds broughl forw8nl Total funds carried forward 335.995 348,001 327,180 335,995 The statement of financial activities includes all gains and h)sses recognlsed in the year. AJI income and expenditure derive from continuing activities.
YOUN HWA SA STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 DECEMBER 2021 2020 2019 Fixed assets Tangible fixed assets 81434 82,454 Curront assets Cash at bank and in hand 269,987 257.219 Credltors: amounts falllng due wlthln one year io 6.420 3.678 253,541 335,995 335,995 Net current assets 263,567 348,001 348.001 Totsl a88ets less current Ilabllltles Net aet8 Funds of thg charlty Unrestricted funds balance brought forward Net movement of funds for the year Total charlty fund5 335.995 12,006 348,001 327,180 8,815 335,995 11 These financial ststements were approved by the board of trustses and 8Uthorised lor issue on 14th March 2023, and are slgned on behaK of the board by. n Ha Park Twstee The notes on pages 6 10 10 fom part of these Ilnanclal statemenls.
YOUN HWA SA NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Goneral Inforniatlon The Gharity is registered charity in England and Wales and is unincorporated. The addr8ss of th& prinGipal i)ffice Is 5 wate Road, Kingston Upon Thames, Surrey, KT1 3LW. Statement of compllanco These finandal ststements have been prepared In compliance with FRS 102, 'The Financial Reporting Stsndard applicable in the UK and the Republic of Ire18nd', the ststement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP IFRS 1021) and the Charhle5 Act 2011. Aeeounting pallcles (l) Basls of preparatlon The financial statements h8ve en prepared on the histodcal cost b8sls, as modlfied by the revaluatlon of certain financlal assets and Ilablllttes and Investment propee6 measured at falr value through Income or expenditure. The financlal $tatements are prepared Sn sterllng, whith 1$ the functlonal currency of the entity. Golng concern There are no material uncertainties about the charttys ability lo ¢ontinue. (111) Judgements and key sourc85 of estlmatlon uncertalnty The preparatlon of the ffnancial statements QUIreS management to make judgements, e511mates and assumpllons that affect Ihe amounts reported. These estimates and judgements are conttnually revlewed and are based on experlence and other factors, including expectations of fvlure events that are believed to be reasonable under the circumstances. livl Fund 4ceountlng Unrestrided funds are avallAble for use al the dl8crelion of the trustees lo furthèr 8ny of the charivs purposes. Designatsd funds are unresMtttsd fvnds eaThaTked by thè trustee8 for parllcular future project or commltment. Restricted funds are subjected to restricttons on their èxpendlture dec18red by the donor or through the tems of an appeal, and fall into on8 ofiwo subdas8es.' restiicted income funds or endovJm8nt funds.
YOUN HWA SA NOTES TO THE FINANCIAL STATEMENTS Icortlnu•dJ YEAR ENDED 31 DECEMBER 2021 A¢¢ountlng pollcl•s (GDniinwd) (v) All incoming r8sources are Included In Ihe ststement of financial aclivtties when enliuament has passed lo the ch3rity' tt is probable that the economic benefits 8ssociated th the trsnsacllon wlll flow to the charity and the amount can be reliably measured. The followlng Spec1¢ policies are applied to particular categories of Income.. Incomlng resourceg incomg from donations or grants is recognised when there is evidence of entillemenl lo the gift, receipt is probable and it5 amount can be measured reliably. legacy income is recognised when recelpt is probable and entiuement is established. incoma frorn donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived frryn the Gosl lo the donor or the esllmated resal& value. Donated facS1ities and servlc88 are recognlsed In the accounts when received If tha value can b8 reliably measured. No amounts aro Included for the corrtrlbution of general volunteers. Income frc¥n contracts for the Bupply of 5ervlce$ Is recognls8d wllh the dellvery of the contracted service. This Es classified as unrestricted funds unless there is a Gonlractual requirement for it to be spent on a particular purposa and returned rf unspent, in vthich case it may be regarded as restricted. (vl) Rosources expendfjd Expenditijre is recognised on an accTuals basis as a Uability Is Incurred. Expenditure Includes any VAT which cannot be fully recovered, and Is cl888ified under headings of the statement of financial aGlivities to which st relatès: expendSture on ralslng funds Includ8s the c08ts of all fundralslng acuvlues, events, non-charitable tradlng activities. and the sale of donaled goods. expenditure on Gh8rftable advltles InclLtdes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those $upport costs and costs relaling to the governance of the charty appoitioned to charitable activbti8$. Other expenditure includes all expenditure that ig neither related to raising funds for the charity nor p8rt of its expenditure on ch8Tttable activities. I costs are allocated to expenditure categories rèflecting the use of the resource. Direcl costs attributable to a single activity are allocated directly to that 8clivity. Sh8red osts are apportioned betsveen the activities they contribule to on a reasonable, ju$tifioblg and consi$t9nt basis. Ivll) Tanglble assets All fixed as$ets are initially recorded at cost.
YOUN HWA SA NOTES TO THE FINANCIAL STATEMENTS (conllftuedj YEAR ENDED 31 DECEMBER 2021 Ac¢ountlng pollel•8 ¢conththdl (vlll) knpalrnient ol flxod asset8 A reviw for indlcatOTS of impalmient Is carfed out al each reportlng date, th the recoverable amount being estimated where such indicators exist. Where the carying valuè exceeds the recover8ble amount, Ihe asset Is impaired accordingly. Prior impaimients are a150 rgviewed for posslble raversal at each reporting date. For the purposes of impaiment lestlng, when it is not possible to estimate the recoverable amount of an individual assgt, an èstimate is made of the recoverable amount of the Cash-generating unil to Ithich the asset belongs. The c8sheneral1ng unit l¥ the smallest identifiable group of assets that Includes Ihe as88t and generates Cash inftows that largely independent of the cash inflow8 frcyn 0th8r assets or groups of For impairment t&sting of goodMII. the goodwtll acqulred in a buslness combination is, from the 8cquisition date, allocated to each of the cash-generating units th8t are expected to beneflt from the 8ynergles of the combinalon. Irrespectlv8 of whether other assets or abIlItieS of the charty are a881gned lo thos8 units. (ix) Financial instium•nts A financial asset or a financial liability is re¢ognised onty when the charity becomes a paty to the contractU81 provisions of the instrument. Basic finanesal instruments are inili81ty recognised at the amount receivable or payable incluijing any relaled transaction costs. Current assets and current liabllities are subsaquenuy measured al Ihe cash or other nSIdeon expected to be pald or recelved and not discounted.
YOUN HWA SA NOTES TO THE FINANCIAL STATEMENTS (coMlnu•dJ YEAR ENDED 31 DECEMBER 2021 Donatlon8 rotal Funds Totsl Funds 2021 2020 Donallons Donallons 27,157 24,332 & Invgsbngnt Income Total Funds Total Funds 2021 2020 Bank Intere8t reGelvablB 14 Cost of ralsing donatlons 2021 2020 Wages and salaries SNOO 5,400 5,400 6.000 Staff costs The total staff costs and employee benefits for the reporting period are analysed a$ follows: 2021 2020 Wages and s8larle8 5.400 The average head count of employe88 durfng the year was 1 12020-. 11. The average number of fulklime equivalent employees during tha year18 analyse(l as follows.. 2021 No. 2020 No. NLtmb8r of staff Number of employees who received employee benefits of more than £60.000 durlng the year was Nil (2020-. NII). Trustee remuneratlon and expenses No remuneration or other benefiis from employment wtth the charfty or a related entity were rèceived by the trustses,. or
YOUN HWA SA NOTES TO THE FINANCIAL STATEMENTS (COne) YEAR ENDED 31 DECEMBER 2020 T8nglble flxed assets Land and Fixtures and buildings fittings Tgtal Cost Al l January 20218nd 31 De¢ember 2021 Addttion5 75,881 6,573 1,980 82A54 1,980 At 31 December 2021 75,881 8,553 84,434 Depre¢latlon At l January 2021 31 December 2021 Carrylng amount At 31 December 2021 75,881 75,881 8,S53 6,573 83,434 82,454 At 31 December 2020 10. Crodllors: arnounts fairing du• wlthln one year 2021 2020 Olher Greditors 6,420 3,678 11. Analysls of charftable funds Unrestrlctèd funds At q January 2021 and 3104¢ombor 2021 Unrestricted funds as at 1 Jar5uary 2020 Unrestricted funds movement during the ye#r 335,995 12.006 Unrestricted funds as at 31 December 2021 348,001 -1Q-
YOUN HWA SA MANAGEMENT INFORMATION YEAR ENDED 31 DECEMBER 2021 The followlng pages do notforni part of the finan¢lal statements. 11
YOUN HWA SA DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021 2021 2020 Income and endowments Donations and lega¢ieo Oonations 27.157 24.332 Inv•stment Incom$ Bank interest receivable 14 Total Income 27,161 24,346 ExpendEtura Costs of ralslng donatlons and l•gacloS Wages and salarfes 5.400 5.400 5.400 5.400 Costs of other tradlng actlvltles Rates and water Light and heat Repalrs and malntenance Other establishment Travel expenses Accountancy fees Teleph¢Jne Other office ¢osts 2,082 1.085 2,653 695 1.223 774 1,141 102 1.976 956 4.368 158 408 858 954 453 9.755 10,131 Total ¢xpendltur• 18155 15.531 Net Income 12.006 8,815 -12-
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Indepeng,ent.Examiner's iiep,ort; Report to the trusteesl members of YOUN HWA SA On accounts forthe year ended 31 DECEMBER 2021 Charity no (If any) 1047554 Set out on pages I report to the trustees on my examination of the accounts of the above charity ('the Trusf) for the year ended 31 112 12019. Responsibilities and basis of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of Ihe Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5llb) of the Act. Independent IThe charity's gross income exceeded £250,000 and l am qualified to examiner's statement undertake the examinatiori by being'a qualified member of linserl name of applicable listed bodyll. Delete I l if not applicable. I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination (other than that disclosed below ') which gives me cause to believe that in. any material respect.. Ihe accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the a¢counts did not comply wilh the applicable requirements Concerning the form and content of accounts sel 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 wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Please d I the words in the brackets if they do not apply. Signed: Date: 2911212021 Name: Roopesh Vaghjee IER Oct 2018
Relevant professional qualifiGationls) or body (if any),. FCCA Address: Krish Jermyn Unit 2 Bradburys Court, Lyon Road Harrow. HA12BY Section B Disclosure ', Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners}. IER Oct 2018
Give here brief details of any items that the examiner wlshes to dis¢lose. NONE IER Oct 2018