OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Charity R¢gi$tratlon No. 1051778 C¢)mparry Registratlon No. 2576177 (England and Wales) HARINGEY CHINESE CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

HARINGEY CHINESE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Managoment Committee Mr Chan Keury Ho Mr Gavin Fung Mrs Men Lin Chen Ms Wnnie Mr Kh￿ Lai Tang s Denise Ng Ms Hèlena Ng Mr HLY Yat Twi Socrgtary Mr Gavin Fung Charity numb• 1051778 Company n￿nber 2575177 Reglst•rod offi 211 Langham Road London N15 3LH Audltor Bacha & Bacha {Audit) Lirrlted stirting House 107 Stirting Road Lon¢kn N22 5BN Bank•rn c￿operat￿e Bank Pl¢ 195 High Road IAknd Green London N22 6DP

HARINGEY CHINESE CENTRE CONTENTS Pa Trustees. report Statement of trustees, responsbilities Independent audltovs report Stslement of finan¢ial a¢tlwti¢s Balar￿ sheet 10- 11 Notes tothe financAal statefflents 12-24

HARINGEY CHINESE CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Th¢ Iwslees present their annual report and finar￿la1 statements for Ihe year ended 31 March 2021. The financial stattments have been prepared in accordance with the accounting policies sel out In note 110 the financial statements and comply wlh the chantable ¢ornpanl5 Tnemoranduwn of a550ciation. the Ctsmpanie$ Act 2006 and 'Accountlng and Repotb"ng by Charrties.. Statement of Recommended Practicè applicable lo charrties preparing thelr accounts in accordance vAth the Financial Reporbng Slandard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191". Objectlvos and activiti•s The charitsble company's obleth'ves and aCti￿tieS of the tharity are: To promgte the benefit of Ihe inhabitants of Haringey aTrJ th8 nèighbourhoods and in P4￿cular, Chinese people, without disth'nction of sex or of pulrttcal, relgiou$ or other opinions by associats'ng the local authortlie$, voluntary organisations and inhabitants in a ￿mMOn effort lo advance educatkjn and to provide facilities in the interests of social welfare for recreation and ￿SUre o¢¢upation vitlh the objectwe of improving the conditlons of Ilfe for the said inhabitants. - To establish or secure the estaNishment of a communty centre and to maintain and manage, or to co-operate th any tha15tstutory authority in the maintenance and managèmènt of such a centre for activllles promoted by the associatson and its constrluent t￿dIeS in furtWarKe of the obpcts. To promote good relat￿n$ in Haringey and its surrounding districts by endeavouring lo eliminaie dIs￿MInall0n on grounds of race and en￿UragIng equalty of opportunty bets¥een persons of diffe￿nI racial groups. To fftlE¥e the povety ot the Chinese ¢))mmunity in Haringey by the provision of adwce, and assistance lo Improve their qualrty of life and lo help them Inlegraling inlo the mainstream Society. The 8eliwts.es adopted in ￿rtheranCe of these obj'eds are thè pmMslon of irrformalion, adwce, thcacy and training., supporting WInerab￿ members by provKJing appropriate care. healthy living advice and refenal to health SerV￿eS, reducing Isolati(￿ by devdop*ng curtural and SOCI￿ activities anrj running joint ev•nls vlth Haringey Coundl and other loca community ¢rganisations lo combat exdusion. The Iru$tee$ have paid due regard to gU￿18n¢e issued by the Charity Commission in decidlng what a¢￿vit￿S the charitable c4)mpany should undertake. Ojr Centre has ¢onb'nued to delver a variety of services lo meet tr needs ol the Chinese communty in Haringey and the surrounding tKircwhs.

HARINGEY CHINESE CENTRE TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORTI {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achlevements and perfornlance Seivices and activrtie5 Pro￿$1￿$ ¢arried out during the year were: 11 Support athice SeNice The Haringey Councl fiJrMlirhg was terminated on 31 July 2019., but the centre continued ID provide the 4d¥ire and support seryice5 to solve Qui membet5' problem5" helping the local Chinese r•sidents to access different hOU￿ng related seN￿S induding prevention of homelessness, housing repairs, rent arrear5, lax uedils, universal credits, various wetrarÈ and beneffts daims, educalion, health seryices, utilities, social and living, inlerpretsb'on and telephone enquiries, etc. 2) Saturday Chinese School - This year, we continued to rxowde 2 houts, Chinese language and culture onllne teaching to our students on Saturday moming bets%Een 10.'30 to 12'.30 because of the uncertainty of the pandemic situation. More than 130 students have registered for dfftrenl dasses from Year I lo Year 8 IGCSE level this yèar. 3} Volunteers Group - We havè re¢nJited mary vrAunlews to ￿1p and 8UPPOrt our Chinese Community. Their works ineluded tea¢hing English: compub'ng skills. use of MO￿le phone skill$, So￿31 darsce training or working as the teaching assistants lo help our Chinese School teacher5 during the classroJm leaching. All volunteers slopped working from March 2020 folbving the pandemK OLrtbr¢ak. 41 After S¢htr)I club - Thi$ year, Ihe usual English and Mathematics tuith)n das8e8 1¢ improve our sludents, literacy and rbumeracy skills have been put on hold since the tyJtbreak of the Covid 19 pandemic from March 2020. 5) Pharmacy Collection Service - We w(￿ked ¥ith a IWAI chemist collected all the prescriptions from the GPS on behalf of our serw¢e users and packed th￿r Med￿at￿on$ into a blister box system to ensur¢ that Ihpy were taking their daily nRdications safety, punduauy and correctty. Followng the Covid 19 outbreak in MarGh 2D20, the prescriptions are being delNered diredly to our d￿nIS by the pharmacy. 61 Health Talksthealth ExeraseslJoint Events - the A¢upun¢turist, Mr. Ma conllnued lo prtrvlde online Tai Chl, heaNh exerclses two limes a week to pronY>te the wdkbeing of our members. From March 2Q20 all health talks and exercises were done online. n Women's Group. Thi$ $eNice wa$ wt on hold tr¢￿ March 2020 folhJMng Ihe pandemic oulbrea 81 Outings- No actNilies ware plann8d for thks year folloing Ihe pandemic crtrtbreak from March 2020. The effedlveness of our services and activities mèasured by the outu)mes and the feedbacks from our service user$. Opinions, comments and su99estions were c￿￿ed from our members lor future initiatives and consideration of project piovisions irh order lo rrwl the thanging needs of the communrty. We will contsnue to prowde valuable ser¥￿e3 and ath.vths for our members and to exploit More fvnding ¢)PPtrrtunities to dèvèlop nM)re projècts prowsions. fjll work togèlhar H3ringÈy Counryl and other organisations to promote neMDth"ng, partnerships, communty involvement and cohesion. Flnanclal review The chadty's total reserves as al the Balance Sheet date was £991,082 {2020 £883,908). Of this £8,39412020 £8,394> was restricted and £189,736 12020 £189:7361 was designated fijnds. Other reserves represent gains from revaluiro the investment properties V•Ere £467.553 12020 £345,044). The Chanty's free reserves, not invested in fixed assets or designated for ¢)ther wrposes st￿d at £82.660 {2020 £97,156). 11 Is the ￿lleY of the Charitable ￿rnPany that unrestricted fvnds which have nol been des￿n3¢ed for a specific us• should be maintained al a level equwalenl to bets%Een three and six nKsnth's unrestricled expenditure, which the trustees believe lo be ar¢und £50,000. The trustees ¢onsidefS that reseNe$ al this level S￿11 ensure that, In tho event ol a signfficant drop in funding.. they ill be able to conbnue the charttable Conyany's current actr'vitses while ¢on$ideration is given lo ways in which additional bjnds may be raised. This level of reserves has been maintained IhroughoLrt the year.

HARINGEY CHINESE CENTRE TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Th8 charity reLYved total unrestn'cted income of £74,102 during the year {2020 £136,775). Of Ihis, £30,785 (2020 £54,958) iy from Ihe Chlnese S¢hoc4 and renta incorne of£25.07912020 £24,222}. The charty expended £89,437 (2020 £133.000) on its charitable aCti￿ties. The costs of running the Centre from which the majortty of seNi¢e$ are provlded were £47.841 (2020.. £50.9581. rK)ne 01￿1ch is covered by Testricled Income. The costs of running the school amounted lo £42:670 (2019 £43,201). Govemance costs were {£2,2731 {2020 £8.609}- The govemance cost is in crefjtt thi$ year due to the rever$81 of legal fees attounled ba¢k in 2014. The legal fees were being disputed for prolessiona negligence but since they have now passed the 6 years tima limit, the dir8ctOTS have decided to write off the fees. Nel incomellloss) for the year, before revaknalion on investsnenl kyoperties and transfers boiween funds amounted lo1£15,335112020 £3.7751. The Iruslees have assessed the rnajor risks lo whth the charitable company 1$ exposed. and are satisfied that sy3tem5 are in place lo mitsgate exposure lo the major risks. Plans for fuiur• p•riods Although our centre's financial fjn¢on￿ ha$ redU￿d in tl)e past rnonths since the outbreak of the pandemic and the local lockdowns. il did not prevent us from delivering our Flanned semces by moving the existing lace-l¢> face services online. Staff are Worki￿ from arKI U￿ng online cff motile 8ervKes to satisfy our clients, needs. In addilion, our operab'ng Surplus and rèseryes in th& past years have flnandalty sewred our sustalnablllty to provide quallty ser¥kes and acliwlles lo meet the rEeds of our members. structure. governance and management The charitable corryany Is a company limited by guarantee, incorporated on 19 January 1991 and registered 05 Harfngey Chinese Centre on 11 De¢ember 1995. The Company was establlshed under a Memorandum of Association bthich estatAished the objects ar￿ powers of the tharttsue company and Is goveme<l under its Articles ofAs8orAakn. The trustees. vtho are also the directors foi the pUT￿Se of company law, and vtho served durirwJ the year and up to the date of signaiure of the financral slatemenls We￿.. Mr Chan Keung Ho Mr Gawn Fung Mrs Men Lin Chen Ms Winnle Ll Mr Khol Lai Tang s Denise Ng Ms Helena Ng Mr Hoi Yat Tsoi None of tre Iruslees hay any benefftcial interest in the company. AJI of the trustees are members of Ihe company and guarant¢e lo contrilyjte £1 in the event of a *irKllng up.

HARINGEY CHINESE CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The Centre has a Management Comnwttee of up lo 8 membeis Ntho meet approxlmalely every 2 er 3 months and am rèsponsible fer thè stratègic dirèction and poI￿Y of the charity. Since the pandemic outbreak from March 2020, it vras not p0s￿bIe fof the management conwnittee to Tfteel up logelher., all the discussions and decisions were approved by emails or oralty over the phone. Day to day re$wn$i￿.1ty foi the provi5i9n of the Services are run by the Centre Manager and supwrted by other 81aff and the Management Committee. Recruilm8nt of volunteers 15 through website: newsletters or by rècommèndab.ons by memberJ. V¢lunteery Servi¢es were pul on hold since the pandemic OLrtbreak. All members of the Management Committee give their time vduntarily an¢J receive no benefrts from Ihe charity. Any expense8 r*Aaim&d from the charity are sel out in the notes lo the accounts. Audltor Bacha & Bacha (Audill Limited were appointed a$ audltor to the company and a reS0￿110n proposing that they be r&appolnted wrfl be PLrt al a General Meets"ng. The Iruslees, reportwas approved by the Board of Trustees. MfGa ng 23 March 2022

HARINGEY CHINESE CENTRE STATEMENT OF TRUSTEES, RESPONSIBILrriES FOR THE YEAR ENDED 31 MARCH 2021 The trustees, vtho are also the directors of Harirgey Chinese Centre for the purpose of company law, are respo)nsible for preparing the Trustees, Report armj ffinancial statements in accordance wlh applicable law and United lQngdom Accounting Standards induding Finanual Report'ng Standard 102.. The Financial Reporting Standard applicable in the UK and Repu￿￿ of Ireland (United ￿ngdoM Generally Accepted Accounting Praclicél. Company Law requlres the trustees lo prepare financkil statements for each financbal year vthich give a true and falr view ol the stale of affairs of Ihe charitable company and of the in¢oming resou￿$ and application of resources, induding the income and expenditure. of the charitable company for that year. In preparing these financial statements, Ihe trustees are required lo.. - seled suitable accounting pcAicies and then awy them consistenty., - obserye the mothods and prin¢lF4es in the Chaiitoes SORP; . make judgements and eslimales Ihal are rea￿nable and pnjdent., slate vknether applicable UK Ac£ounling Standards have been fc1lov￿d, subject lo any rnalerial departures disclosed and explalned in the ffinancial statements,. and prepare the financlal statements on the going concem basis unle85 it 13 inappropriate to Presume that the ¢harilable company wll continue in operalion. The truste•s are rèsponsibl& for maintaining propar accountiThJ reC￿S Ihat disdost wlh rèasonablè accuracy al any time the flnancial position of the Charitab￿ company and enable Ihem lo ensure that the financAal statements comply the Companles Act 2Q06. They are also reyngible for safeguarding the assets of the charitable npany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the truslee$ are awaTe'. - There is no relevant audit infomiation ol the tharits￿e companvs auditors are unaware.. and - The trustees ha¥e taken all the slep5 that lth 0￿￿t lo have taken lo make themselves aware of any relevant audit information and lo establish that the a￿￿1t91$ are avrare of that infomauon. The Irustegs are re5W51ble for the maintenance and Integrity of the CorP￿￿e and financial information induded on th& charitable companvs website. legislation in the United Kingdom govtming the prepafalion and disseminat￿n of financial statements may differ frcrfn legisla￿.tsn in otherjurisdicaions.

HARINGEY CHINESE CENTRE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HARINGEY CHINESE CENTRE

Opinion

We have audited the financial statements of Haringey Chinese Centre (the ‘charitable company’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

HARINGEY CHINESE CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HARINGEY CHINESE CENTRE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather that the Companies Act 2006. Accordingly, w e have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act .

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

HARINGEY CHINESE CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HARINGEY CHINESE CENTRE

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Yogendranath Bacha BA (Hons) BFP FCA (Senior Statutory Auditor) for and on behalf of Bacha & Bacha (Audit) Limited 23 March 2022

Chartered Accountants Statutory Auditor

Stirling House 107 Stirling Road London N22 5BN

HARINGEY CHINESE CENTRE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestrlct•d Restricted funds 2021 Total Unrnstrictsd RÈstrl¢t•d funds funds 2020 2020 Total 2021 2021 2020 Not endowTnon Donations and legai?e$ Charitable adivibes Investments Other income 8.108 30,785 25,696 9,513 8,108 30,785 25,696 9.513 6,808 61,357 25.013 14.327 6,808 90,e27 25,013 14.327 29,270 Total income 74,102 74,102 107,505 29,270 136,775 Charitsble aCtivi￿¢S 89,437 89,437 103,730 29,270 133,000 Nel gainslllosse51 on Snve¥lmen15 10 112.509 112,509 122,757 122,757 Not Income for the yearl Nét moY•m•nt in fvnds 97,174 97.174 126,532 126,532 Fund balances at 1 April 2020 875,514 8,394 883,908 748,982 8.394 757,376 Fund bala￿0$ at 31 Ilar¢h 2021 972,688 8.394 981.082 875,514 8,394 883,908 The statement offinancial activities Indudes all gains and losses rE¢yyJni5ed in the year. All income and expenditure derive from continuing actiwties. The 51alement of financial ath'vities also compli8s wth the requirements for an In￿Me and expendtture account under the Companies Act 2006.

HARINGEY CHINESE CENTRE BALANCE SHEET AS AT31 MARCH 2021 2021 2020 Fixed assets Tangible assets Investment properties 11 12 242,739 578,266 243,578 465,757 821,005 709,335 Current assets Debtors Cash at bank and in hand 13 16.145 156,543 13,919 174,287 172.688 188,206 Credltors: amounts falling due Th*thln ono year 14 112,6171 113,633} Nel ¢urrenl assets 160,077 174,573 Total assets less CLmnt liabilities 981,082 883,908 Incom8 funds Restricted funds 15 8,394 8,394 Designated funds Other re8erye8 General unTeslricted fvnds 189,736 467.553 325,399 189,736 345,044 340,734 Unrèstrict•d fvnds 17 972,688 875.514 972.688 875,514 981,082 883,908 10-

HARINGEY CHINESE CENTRE BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021 The company is enbtled lo the exemption from the audrt requirement contained in section 477 01 the Companies Act 2006, for the year ended 31 Mar¢h 2021, although an audit ha$ been carried out under section 144 of the Charities Act 2011. The directors acknlwhedge their responsibilities for comptying Trmth the requirements of the Companies Act 2006 with respect lo accounting records and the prepara￿On of finanrAal statement5. The members have not required the company to obl￿￿ an audit of its finawal statements under the requirements of the Companies Act 2006, for the year in qUest￿n in aCCordar￿e with section 476. These financial Statements have been prepared in accordance the provisions applicat4e to Companies subject lo the small companies regime. The financial ststemenls were approved by the Twstee5 on 23 March 2022 MrGa Company Regi$tration No. 2575177

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting poll¢l•s Charity information Haringey Chinese Centre Is a Fthle company limited by guarantee incorporated In England and Wale8. The registered office IS 211 Langham Road, London, N15 3LH. 1.1 Accountirvj conv•ntion The financial slalements have been wepared in aceonlance WI￿ the charitable company's Igovemlng documenll, the Companies Act 2006, FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102") and the Chariti'es SORP -Accounb'ng and Reporting by Charities.. Statement of Re¢¢mmended Pra¢ti¢e ap ￿l¢able to ¢harities preparing Iheir a¢¢ounts in accordarTr* wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectwe I January 20191. The tharitab￿ company 1$ a Publi¢ Benefft Entity as definèd by FRS 102. The Gharitable company has taken a¢fvanlage of the provisK)ns in the SORP for charilles not 1¢ prepare a Stslement of Cash FIQWS. The financial 51aternerts ar¢ prepared in sterfing. is the fvn¢tional currew of the charitable company. Monetary aM￿JnIS in these financial statements are rounded to the nearest £. The ffinancral slalernents have been prepared urHler the historical cost convention, modrfied lo Include the revaluation ¢1 freehold proparbes and to indude invéstmant propwb'es and certain financial instruments at fair value. The prinupal accounb.ng policles adopted are set out bebw. 1.2 Going ¢orKom Al th• time ol appKoving the financial statements. the trustees have a reasonable expectation that the charita￿e company has adèquate resoureès tts eorttinuè in operab.￿￿ t￿stanC￿ for the lorasèÈ3bl• ftAure. Thus the trustees conunue to adopt the going concem basis of accounting in preparing the financial stalemenls. 1.3 Charitabl8 fvnds Unrestn'ded funds are aVal￿e for use al the discredon of the trustee5 in frJrtheran¢e of their charitable objectives. Designated funds comprise fijnds wthich have been sel aside at the discretbjn of the Iruslees for specffjc purposes. The purposes and uses of the de$TrJnated fvnd$ are sel out in the nolg$ lo the financlal stalemenls. Restricted lunds are Subject lo spe¢ffj¢ condthons by donors as to IK)w they may be used. The purposes arKI uses ofthe reslri¢ted frjnds are set (￿rt in the notes to the financial ststements. 1.4 Income Income is recognised wthen the charita￿e company is enlTrtled lo it after any perfomance conditions have been mel, thè amounts can be measU￿d rdiabty. and it is probable that income will be reeefved. Ca$h donations are rè¢ognlsed on recelpl. Other donatlons are recognised the charftsble ￿MpanY has been notified ol the donation, unless perfonnance CC4Klitions require defefral of the amount. Income tax recovern￿& in relation to donations received under &ft Aid or deeds of covenant is recognised at the Ilmè of the donaknon. Income from govemrnent and other grants. vthether'capital. grants or trevenue. grants, Is recognised Ihe Charity has enlrfdement lo the funds, any perfomiance conditions attached to the grants have been met, it is probable that the income will be recelved and the amount can k measured reliabty and Is not deférrgd. 12-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poli¢iè$ IConUnu•d) Inl¢resl on funds held on deposit is included vthen receivat4e and the amount can be measured reliabty by the charity.. this is nomially upon notification of the intere51 paid or payable by the bank. 1.5 Exyndltwe Expenditure is re¢ogni$ed once there is a legal or con$tru¢knve obligation to make a payment to a third paty, il Is Proba￿e that settlement ￿111 be required and Ihe amount of the oblr9ation can te measured reliably. Expenditure on charitabie activities includes the costs ol running the school. running the centre and the seMc05 11 provlde$, the cost of wothing knithln the wder community and other aclivities undertaken lo further th? purposes of the charity and their assouated support costs. Irreeov•rabla VAT is charged as a cost agalnsl Ihe acbty for which the expenditure was incurred. Support costs are those fundons that assist the wod( of the Charity trAJt do nol dlredy undertakè Charitable a¢livlbes. Support costs include back office costs, finance. personnel, payroll and govemance costs which support the charity's artl'stic programme5 and activities. These costs have been allocated befv￿en expenditure ￿ Gharilable ath11t￿$. The ba$e$ on whi¢h $upport costs have been alloc¢d ar¢ sel out in the notes. 1.6 Tangible fixed assets Tangible fixed assets are inttrdlly measured at ¢o$t and subwuenty measured at ¢ost or valuath'on, net of depreciallon and any 1ryalm￿nt losses. Deprecjation is recognised so as to vrtrte off the cost or valuation of assets ￿5$ their residual values over their usefvl lives on the folowng ba$es.' Land and ￿lIding8 Pknt and equipment not depre¢ied 25% reduung baance Freehdd land is not depreciated. Freehokl property 15 not dep￿ated due to hvjh residual value of the property. The gain or loss arf5ing on the disp¢sal of an asset 1$ delem)in¢d as the difference bet￿￿en the sale proceeds and the carying vakte of the asset. and is recognised in the statement of financial acliwlies. 1.7 Inv•stm•nt proprti•s Inve5trnent property, Trhthich is property held lo earn renlas andlor for ¢apilal appreciation, is initially rewlsed al cost. which indudes the purchase c05t and any diredy attributable expenditure. Subsequently il 1$ measured at lair value at tr¢e repoiting end date. The surplus Or dèfiol on revaluation is recognised in proffit or loss. 1.8 Impaimient tsffix•d assets At each rep(Yb'ng end dale, the charitable company Te￿ewS the carrying amounts of its tangible assets to determine whether there is any indication that those asse15 have suffered an impainnent loss. If any such indication exists, the re￿rable amount of the asset is estimated In order to detemiine the extent of the impaimenl loss Irf any). 1.9 Cash and cash gquival*nts Cash cash equivalents in(4ude cash in hand, deposits held at call wth banks, other short-lem) liquld investments wth original maturities of three monlhs Of less. and bank o¥￿draftS, Bank overdrafts are shown within borrowings in current liabilities. 13-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accountirvj poliGios {Continu•dl 1.10 Flnancial instruments The chantable company has dected to appty the prowsion$ of Sethon 11 'Baslc Flnancial Instruments, and Section 12'0ther FlnanrAal Instrumenls1ssue5' of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charitable company's baL4nce sheet vthen the charitabl company be￿Me8 p8ty to the ¢ontra¢lual pro￿$￿5 ofthe i1￿trumerrt. Finandal assets and liabllib.es are offset, wlh the rtel arnounts presented in the financial stalemenls, when there 1$ a legally enforceable right to set off the rec(NJnlsed amounts and there is an intention 10 sett￿ on a nel basis or to realise the asset and settle the lia￿lty sinvjtsneousty. Basic financial assets Basic finan¢ial assets, ￿1¢h include debltxs and ¢a5h and bank balances. are initially measured at transadion price includiro transaction costs and are subsequenuy Carried al amortSsed ¢051 uslng the effecllve Interest method unless the arrangement ConS￿eS a financing transaction, where the transaction Is measured at the present value of the futufe receipts discounted at a market rate of interest. Financial assets daSSi￿ed as receivable V+thin one year are not amortised. Dorncognttlon of financial assets Financial assèts ar• der•cognised onty ￿en the Contractual ￿ght$ lo the cash flows Irom the asset expire or are settled, or vknen the charitsble company transfeTS the finanaal asset anLI 5ubslantially aH the risks and rewards of ownership lo another entty.. or rf some stgnrftcant risks and rewards of ownership are retained but control of the asset has tran$ferre¢1 to another party tr￿1 Is Bble to sell the asset in Tt5 entirety to an unrelated third paty. 8aslc financial I￿￿1￿e5 Ba$1¢ financial liabilities, induding craditors and bank loans are inltialy recogni5ed at transaction price unless the arrangement constitutes a finarring transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classffied as payable vrithin one year are not amortised. Debt instruments a￿ subsequently Carried at an￿)￿sed cost, using the effective interest rale method. Trade Cred￿Or$ are Obl￿atiOnS lo pay for gc*)d$ or servlces that have been acquired in the ordinary course cf operations from suppliers. Amounts payable a￿ dassified as current liabilities if payment is due wlhin one year or less. If not, they are presented as non-current liabilities. Trade ¢￿ditorS ale rec￿nIse¢l initially al Ir3n8aclion price and 5ubsequenUy measufed al amorb.sed cost using the effective interest method. Dere¢ognitlon of finan¢lalliabilftles Financial liabilities ale derecognised vthen the ¢haritable ¢))mpany'5 contractual obligations expire or are discharged or cancelled. 1.11 Taxatlon The ¢harity is exempl from corporation tax on its charilable acimties. 1.12 Employ¢• b￿•fits The ¢osl of any unused hdiday entitlement is reel￿nIsed in the period in which the Empl¢)yee's services are received. Terrnlnalion beneffts are recognised Immediatety as an expense Nthen the charitable Company Is demonstrably committed to tsminate the emph)yment of an employee or to provide lèmiinafjon benefits. 14-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Don•tlon$ and hgaclès Unr•strictsd Unrnstrictèd fun(ts funds genernl general 2021 2020 Donations and gifts 8.108 e,808 Charitable activities School Total S¢hoolOuting$ and ovènts 2020 Total 2020 2021 2021 2020 2020 Sales wthin tharilabk activibes Services provided unoler contract Other income 30.785 30,785 54,958 54,958 14.185 14,185 21,484 21,484 30.785 30,785 14,185 54,958 21,484 90.827 Analysis by lund Unr&stri¢ted funds- general R8slricted funds 30,785 30,785 54,958 6,399 15,085 61,357 29,270 14,185 30,785 30.785 14,185 54,958 21,484 90,627 Invèstmènts Unrnstrict•d Unrestrl¢tsd funds funds nernl genernl 2021 2020 Rental inwme Interest rewvable 25,079 617 24,222 791 25,696 25,013 15-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 othor Incomg UnTestricted Unrestrlctad funds funds 9•n8ral g•n•rnl 2021 2020 Accupuncture other inc¢>me 8,798 715 14,327 9,513 14,327 16-

¢0 to ca o) ¢D J O ￿- U) fD r ¢7> * ¢D n To Lr) V) 14 Itj V) £D fo v) Lr) o Irj ID ty o) In *yJ (O O a<0￿ (Y(TJ Lf4 0 0) ) qj fo C• ID } Iliillaill Jill Il I CL GcLtt￿(j(nomM

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 TrusteOS None of the Iru51ees lor any persons connected y￿th them) received any remuneration or benefits from the charitable ¢ompany during the year. Travelling expense5 lolalling £Nil (2020 £721 was reimbursed to three trustees during the year. EfflFAoyee5 Numbw of employ•es The average monthty number of emptyee$ during the yearwas: 2021 MuM￿r 2020 H￿ber Full bme staff *￿rkIng in th& m8nagemenl of the cefttre Part-llme cleaners, cwks and rArers Part-lime tea¢hers 15 10 22 Employmènt ¢o$ts 2021 2020 Wages and Salaries Social security costs i)ther pensFon costs 70,598 1,620 541 78,481 3,427 1,477 72,7S9 83,385 There were no employees wThose annual remuneration was £60,0fy) or more. 10 Not galn$lllos$esl on invèstments Unr•strktèd Unmtri¢ted funds funds Oth•r general rnser4os 2021 2020 Revaluation of invethent properties 112,509 122,757 19-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 11 Tangible fix•d ass*ts Land ar Iwildings Plant •nd equlprnent Totsl Cosl Al 1 April 2020 240,223 97,915 338,138 At 31 March 2021 240,223 97,915 338,138 Depreciation and impairn1ont Al 1 April 2020 Depreciation charged the year 94,560 839 94,560 839 At 31 March 2021 95,399 95,399 Carrylng amount At 31 March 2021 240,223 2,516 242,739 Al 31 March 2020 240,223 3,355 243,578 The ass¢1 und¢¥ the heading of land and buildings is thé yoperty al 211 Langham Road vthich is shown at cost. 11 has an esb'mated market valuè of £408,875. 12 Inv￿tM8￿t proprty 2021 Fair valuè Al 1 April 2020 Nel gains through fair value adjustrnents 465,757 112,509 Al 31 March 2021 578,266 Investment property comprises retail units in Langham Parade and Langham Road, London. The fair value of the Invesbmènl property has been arrived at on the basis of a valuats.on carried out by Property Price Advice, vtho are not connected ￿1th the itharilable company. The valuation was made on an open market value basis by reference to market evKlenc? of transaction prices for simllar propethes. If investment propertes were staled on an hIst￿al cost ba8is rather than a fair value basis, the amounts would have been £120,713. 13 Dgbtors 2021 2020 Amounts falllng du• with•n one y8ar'. Trade debtors other debtors Prepayments and ¥ccnJed income 1,750 12,587 1,808 1,000 10,812 2,107 16,145 13,919 -20-

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 14 Cr•ditors: amounts falling due v&ithin one year 2021 2020 other laxalion and social security other creditors Accruals and deferrad inttjme 1,432 1591 11.238 8,132 5,501 12,611 13,633 15 Restricted funds The income ￿TrdS of the ¢haiity incEude restricted fijnds comprising tho following unexpended balances of donation5 and grants hdd on trust ￿ sp8ctfi¢ purposes.. Movèmant in funds IncorrMn9 BalaTht• •t r•sourte$ 31 IA4r¢h 2Q21 Balanc0 at 1 April 2020 Centre deVelopm￿t fvnd 8,394 8,394 8,394 8,394 Centre development is money glven for the devekipment of th& centre. 16 Unrestricted funds - Othér rvserwes The income ol the ¢hanty indude other reserves vthi¢h are galns arising from fair value adjustments of the inveslrnenl properties Mov•m•nt in funds at Incom Rosouicos Bdane• •t l Aprtl 2020 f050Ui¢•8 •xp•rthl 31 IA*r¢h 2021 other reserves {345,0441 (112,5091 1457,553) 21

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 17 Deslgnatad funds The incorne funds of the charity indude the follthbing designated thl¢h have beeft set aside out of unrestricted funds by the trustees for specffie purposes". Movgmgnt in fvnds Balance at resour￿ 31 March 2021 1 April 2020 Dllapidaiions Centre developmentfvnd 35,000 154,736 35.000 154.736 189,736 189,736 The dilapldallon lund Is fvnd designated for Ihe maintenance of th& centre'$ Investment properties. Centre devek)pmenl fvnd is fvnd de￿gnated for the devdopment of the centre.

ts) * io th7 J ¢0 ro *N¢ 7J•P gffjc

HARINGEY CHINESE CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 19 Operating lease commitments Al the Teporkn'ng end dale the charita￿e company had outstsnding commitments for future minimum l&a$e paymnl$ under non-caneeifablè operating leases. whth fall due as fdlows.. 2021 2020 Within one year B8fvM8n and five years 2,044 3,236 5,281 6,280 7,325 Lossor The operating ￿aSeS represent leases of retail premises to third paitiès. The le88es aro neg¢llaled over lems of 3-5 years and ￿nIS1$ are fixed for the term of the lease. Al the worting end dale the ¢hathaNe Company had contracted v￿h tenants for the followng fninimum lease payments.. 2021 2020 thin one year 8ets¥een and fjve years 23.000 89,083 20,083 112.083 20.083 20 Events aft•r th• rep￿Ing dats Follovhng the outbreak of ihe Coronamws pandemic, various l¢)ckdowns arrfl $wial distsncing rule, ihe ¢harity'$ In￿rne for 2021 has been adversely im￿cted. Many events and activibes could not be organised. However, the school classes contr'nued to be done remotdy. 21 R8lat8d party transactions There were no disclosable rdaled paty transactions during the year12020- none}. -24-