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2023-03-31-accounts

Management Management Committee Mr Chan Keung Ho
Mr Gavin Pung
Mrs Men
Lin Chen
Ms Winnie
Li
Mr Khoi Lai Tang
Ms Denise
Ng
Ms Helena
Ng
Mr Hoi Yat Tsoi
SecretarY Ms Winnie
Li
Charity number 1051778
Company number 2575177
Registered offic 211 Langham
Road
London
N15 3LH
Auditor Bacha & Bacha (Auditl Limited
Bankers Co-Operative
Bank Pic
195High Road
Wood Green
London
N22 6DP

Page
Trustees'
report		 1-4
Statement oftrustees' responsibilities
Independent
auditor's		 report 6-9
Statement
offinancial		 activities 10-11
Balance sheet 12
Notes to the financial statements 13-28

Unrestricted Restricted All restricted Unrestricted Restricted All restricted
funds funds and funds funds and
unrestricted unrestricted
funds funds
2023 2023 2023 2022 2022 2022
Notes 6 8 6 f 5
Inca
e and endowments		 from:
Donations
and
legacies 2 7,250 1,000 8,250 2,920 3,000 5,920
Charitable
activities 28,394 28,394 25,640 25,640
Rental income 24,777 24,777 23,727 23,727
Investments 175 175 54
Other income 19,249 19,249 18,484 18,484
Total income 79,845 1,000 80,845 70,825 3,000 73,825
~E*
Eat
Charitable
activities 7 96,002 432 96,434 90,082 843 90,925
Rental
expenditure 11 2,708 2,708 2,114 2,114
Tax on rental activities 4,193 4,193
Total expenditure 102,903 432 103,335 92,196 843 93,039
Nei gains/gasses)
on investments 12 (412,755) (412,755) 244,489 244,489
Net
(outgoing)/Incoming
resources
before		 (435,813) 568 (435,245) 223,118 2,157 225.275
transfers
Gross transfers
between
funds		 873 (873)
Net (expenditure)/
Income for the year
Net movement In funds (434,940) (305) (435,245) 223,118 2,157 225,275
Fund balances at 1 April
2022 1,195,806 10,551 1,206,357 972,688 8,394 981,082
Fund balances at 31
March 2023 760,866 10,246 771,112 1,195,806 10,551 1,206,357

2023 2022
Notes E E
Fixed assets
Tangible assets 14 242,340 242,111
Investment properties 15 410,000 822,755
652,340 1,064,866
Current assets
Debtors 5,777 3,427
Cash at bank and in hand 126,114 141,853
131,891 145,280
Creditors: amounts falling due within
one year 18 (13,119) (3,789)
Net current assets 118,772 141,491
Total assets less current liabilities 771,112 1,206,357
Income funds
Restricted funds 19 10,246 10,551
I~II
I t		 I d
Designated funds 20 189,736 189,736
Otherreserves 21 289,267 702,042
General
unrestricted		 funds 281,843 304,028
Unrestricted funds 760,886 1,195,806
760,868 1,195,806
771,112 1,206,357

2 Donations and legacie s
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2023 2023 2022 2022 2022
8 8
Donations and gIRs 7,250 1,000 8,250 2,920 3,000 5,920
3 Charitable activities
School Total School
2023f 2023
8		 2022
8
Sales within charitable activities 28,394 28,394 25,640
4 Rental Income
Unrestricted Unrestricted
funds funds
general general
2023 2022
f 8
Rental income 24,777 23,727
5 Investments
Unrestricted Unrestricted
funds funds
general general
2023 2022
f 8
Interestreceivable 175 54

Unrestricted Unrestricted
funds funds
general general
2023 2022
E E
19,249 18,484
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The average
monthly		 number ofemployee s
during
the year was:
2023 2022
Number Number
Full time staff working in the management of the centre
Part-time teachers
10
Employment
costs		 2023 2022
8 8
Wages and salaries 71,201 66,505
Social security costs 1,214 1,539
Other pension costs 588 534
73,003 68,578

Unrestricted Unrestricted
funds funds
general general
2023 2022
f
Property insurance 1,256 1,050
Staff wages 1,198 1,064
Accountancy fees 254
2,708 2,114

2023 2022
8
UK corporation tax on profits for the current period 4,193
Total tax charge 4,193
The charge for the year can be reconciled to the profit per the profit and loss account as follows:
2023
8
Rental income 24,777
Less rental expenditure (2,708)
Profit before taxation 22,069
Expected tax charge based on the standard rate of corporation tax in the UK
of 19% 4,193
Taxation charge in the financial statements 4,193

14 Tangible fixed assets Tangible fixed assets
Land and Plant and Total
buildings equipment
E E
Cost
At 1 April 2022 240,223 97,915 338,138
Additions 873 873
At 31 March 2023 240,223 98,788 339,011
Depreciation and impairment
At 1 April 2022 96,027 96,027
Depreciation charged In the year 644
At 31 March 2023 96,671 96,671
Carrying
amount
At 31 March 2023 240,223 2,117 242,340
At 31 March 2022 240,223 1,888 242,111

2023
E
Fair value
At 1 April 2022 822,755
Net gains/(loss) through fair value adjustments (412,755)
At 31 March 2023 410,000

Debtors
2023 2022
Amounts
falling due within one year:		 E E
Trade debtors 1,750 750
Other debtors 2,219 869
Prepayments and accrued income 1,808 1,808
5,777 3.427

Loans and ov erdrafts
2023 2022
E E
Bank overdrafts 1,829
Payable
within		 one year 1,829
Creditors: amounts falling due within one year
2023 2022
Notes E E
Bank overdrafts 1,829
Corporation
tax payable		 4,193
Other taxation and social security 2,444 (4,000)
Accruals and deferred income 6,482 5,960
13,119 3,789

Movement
ln
funds
Balance at Incoming Balance at
1 Aprg 2022 resources 31 March 2023
8 f 8
Dilapidatlons 35,000 35,000
Centre development fund 154,736 154,736
189,736 189,736

Balance at Resources Revaluations, Balance at
1 April 2022 expended gains and 31 March 2023
losses
8
Other reserves 702,042 (412,755) 289,287

2023 2022
8 8
Within one year 2,044 2,044
Between two and five years 1,022 3,066
3,066 5,110

At the reporting
end date the charitable
company
had con
payments:		 tracted
with tenants
for the following
minim		 um
lease
2023 2022
8
Within one year 23,000 23,000
Between two and five years 43,083 66,083