2025-03-31-accounts

Charity registration number 1051778 (England and Wales) Company registration number 2575177

HARINGEY CHINESE CENTRE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

HARINGEY CHINESE CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Management Committee	Mr Chan Keung Ho
	Mr Gavin Fung
	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 office	211 Langham Road
	London
	N15 3LH
Auditor	Bacha & Bacha (Audit) Limited
Bankers	Co-Operative Bank Plc
	195 High Road
	Wood Green
	London
	N22 6DP

HARINGEY CHINESE CENTRE

CONTENTS

	Page
Trustees' report	1 - 4
Statement of trustees' responsibilities	5
Independent auditor's report	6 - 9
Statement of financial activities	10 - 11
Balance sheet	12
Notes to the financial statements	13 - 26

HARINGEY CHINESE CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's memorandum of association, the Companies Act 2006 and "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 2019)".

Objectives and activities

The charitable company is dedicated to advancing the well-being of the residents of Haringey and its surrounding neighbourhoods, with a particular focus on the Chinese community. Our objectives include fostering cooperation among local authorities, voluntary organisations, and residents to enhance education and provide facilities for social welfare, recreation, and leisure activities. The overarching goal is to elevate the quality of life for individuals, irrespective of gender, political affiliations, religious beliefs, or other opinions.

To achieve these objectives, we aim to establish a community centre and collaborate with local statutory authorities for its maintenance and management. Additionally, we strive to cultivate positive relationships in Haringey and its environs by combating discrimination based on race, promoting equality of opportunity, and addressing poverty within the Chinese community through the provision of advice, aid, and assistance.

Our commitment extends to facilitating the integration of the Chinese community into mainstream society, fostering community involvement, and promoting cohesion. The policies implemented to fulfil these objectives encompass the provision of information, advice, advocacy, and training. We support vulnerable members by offering appropriate care, providing advice on healthy living, and facilitating referrals to health services. Furthermore, we address social isolation by organising cultural and social activities, along with joint events in collaboration with Haringey Council and other local community organisations to combat exclusion.

In alignment with guidance from the Charity Commission, the trustees have carefully considered the activities undertaken by the charitable company. Our centre remains steadfast in delivering a diverse range of services to meet the evolving needs of the Chinese community in Haringey and the surrounding boroughs.

• 1 -

HARINGEY CHINESE CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Services and activities provisions carried out during the year were:

1) Support advice service – We continued to provide the advice and support services for the local Chinese residents to access different housing related services including various welfare and benefits claims, education, health services, utilities, social and living, interpretation and telephone enquiries.

2) Saturday Chinese School - We continued to offer two-hour Chinese language and culture lessons on Saturdays at our centre for students from Year 1 (age 5) to Year 8 IGCSE (age 12). This year, 110 learners were registered across levels 1 to 8. To accommodate them, we organised eight classes: four classes were held in the morning from 9:30 to 11:30, and four classes were held in the afternoon from 12:00 and 14:00. Parents expressed satisfaction with this arrangement.

3) Outing – A five-days, four-night trip to Black Forest in Germany was originally scheduled for October 2024. However, the trip was postponed to July 2025, as most of our older members preferred to travel during the summer.

4) Pharmacy Collection Service - we continued to work with local chemists who collected the prescriptions from GPs on behalf of our service users and packed their medications into a blister box system. This ensured that our clients took their daily medications punctually, correctly and safely.

5) Acupuncture services - We continued to work with the professional acupuncturist, Mr. Sam Ma, who rents our premises to operate his acupuncture practice three days a week, from Monday to Wednesday, for client treatments. On occasion, he also works on other days at the request of his patients.

6) Health Talks/Health Exercises - Mr. Ma, as an experienced “Qigong” master, continued to provide ‘Tai Chi’ “Qigong” exercise classes 3 times a week from Monday to Wednesday, teaching his learners in the evening from 17:30 to 19:30. He also arranged health talks for our members to promote self-practice well-being during the year.

7) After School Club - Some students came to attend the “Tai Chi” heath exercise classes on weekdays after school. Mr. Ma also offered a summer “Qigong” & “Tai Chi” training course in July and August for our students.

The effectiveness of our services and activities were measured by the outcomes and the feedbacks from our service users. Opinions, comments and suggestions were collected from our members for future initiatives and consideration of project provisions in order to meet the changing needs of the community.

Financial review

The charity's total reserves as at the balance sheet date was £700,083 (2024: £744,246). Of this £8,521 (2024: £8,521) was restricted and £189,736 (2024: £189,736) was designated funds. Other reserves, representing gains from revaluing the investment properties, were £269,287 (2024: £289,287). The Charity's free reserves, not invested in fixed assets or designated for other purposes stood at £nil (2024: £14,891).

Reserves policy

It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s unrestricted expenditure, which the trustees estimate to be around £50,000. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The charity received total unrestricted income of £82,642 during the year (2024: £80,434). Of this, £30,303 (2024: £31,210) is from the Chinese School and rental income of £24,755 (2024: £24,656).

• 2 -

HARINGEY CHINESE CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The charity expended £109,726 (2024: £115.340) on its charitable activities. The costs of running the Centre from which the majority of services are provided were £34,273 (2024: £36,088), none of which is covered by restricted income. The costs of running the school amounted to £52,777 (2024: £61,257).

Governance costs were £7,365 (2024: £6,752).

Net deficit for the year, before revaluation of investment properties and transfers between funds amounted to £24,163 (2024: (£26,866)).

The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

Although our centre’s financial income has reduced in the past months, it did not prevent us from delivering our planned services. Our operating surplus and reserves in the past years have financially secured our sustainability to provide quality services and activities to meet the needs of our members. We will continue to provide valuable services and activities for our members. We will exploit more funding opportunities to develop more project provisions. We will work together with Haringey Council, other statutory and non-statutory organisations to promote networking, partnerships, community involvement and cohesion.

Structure, governance and management

The charitable company is a company limited by guarantee, incorporated on 19 January 1991 and registered as Haringey Chinese Centre on 11 December 1995. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Chan Keung Ho

Mr Gavin Fung Mrs Men Lin Chen Ms Winnie Li Mr Khoi Lai Tang Ms Denise Ng Ms Helena Ng Mr Hoi Yat Tsoi

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Centre has a Management Committee of up to 8 members who meet approximately every 3 months and are responsible for the strategic direction and policy of the charity. Day to day responsibility for the services provisions is run by the Centre Manager and supported by other staff and the Management Committee. All members of the Management Committee give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts

All members of the Management Committee give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts.

Auditor

Bacha & Bacha (Audit) Limited were appointed as auditor to the company and a resolution proposing that they be re-appointed will be put at a General Meeting.

• 3 -

HARINGEY CHINESE CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dlsclosuro of Informatlon to audltor Each of the trustees has confirm8d that there Is no InfonnatlDn ol which they are aware which Is relevant lo the audit, but of which the auditor Is unawara. They have further confimèd that they have taken approprlat• staps to Identlfy such relevant Information and to establlsh that the audFtor is aware of such Informatlon. The trustees, report was approved by the Board of Truste￿. Mr Gavln Fu 29 January 2026

HARINGEY CHINESE CENTRE

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors of Haringey Chinese Centre for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with 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).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• There is no relevant audit information of which the charitable company's auditors are unaware; and

• The trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

• 5 -

HARINGEY CHINESE CENTRE

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

Opinion

We have audited the financial statements of Haringey Chinese Centre (the ‘charitable company’) for the year ended 31 March 2025 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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, including the trustees' 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, except to the extent otherwise explicitly stated in our report, 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.

• 6 -

HARINGEY CHINESE CENTRE

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

• the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.

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 Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not obtained all the information and explanations necessary for the purposes of our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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HARINGEY CHINESE CENTRE

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company,

• we assessed the extent of compliance with the laws and regulations identified through making enquiries of management and inspecting legal correspondence; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias;

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims;

• reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may

involve deliberate concealment or collusion.

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.

• 8 -

HARINGEY CHINESE CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF HARINGEY CHINESE CENTRE Use Of our report This r8port is made Solely to the charitable company'8 members, as a body, in accordanc8 Wlth Chapter 3 of Part 1fj ofthe Companle8 Act 2006. Our audlt work has been undertaken $0 Ihat we mlghl state to the charitable companV$ members thtr¥e matters we are requlred lo slate to Ihem an audilors, report gnd for no other PUTpo$e. To Iho fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the tharitable company and the charftsble companls member8 as g body, for our audit worl for this report, or for thè oplnlons we havg fomied. Yoyèndrana for and on BA P FCA (Senlor Statutory Audltor) f Ba¢ha & Baoha (AudFII Llmlted alf 29 January 2028 Chartored Accountsnts statutory Audltor

HARINGEY CHINESE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

			Unrestricted	**Restricted **	All restricted	Unrestricted	Restricted	All restricted
			funds	funds	and	funds	funds	and
					unrestricted			unrestricted
					funds			funds
			2025	2025	2025	2024	2024	2024
	Notes		£	£	£	£	£	£
Income and endowments from:
Donations and
legacies		2	2,371	1,000	3,371	3,654	-	3,654
Charitable
activities		3	30,303	2,921	33,224	31,210	8,040	39,250
Rental income		4	24,755	-	24,755	24,656	-	24,656
Investments		5	1,587	-	1,587	1,378	-	1,378
Other income		6	22,626	-	22,626	19,536	-	19,536
Total income			81,642	3,921	85,563	80,434	8,040	88,474
Expenditure on:
Charitable
activities		7	87,050	6,656	93,706	97,345	9,765	107,110
Rental
expenditure		11	13,971	-	13,971	4,377	-	4,377
Tax on rental
activities		13	2,049		2,049	3,853		3,853
Total expenditure			103,070	6,656	109,726	105,575	9,765	115,340
Net gains/(losses)
on investments		12	(20,000)	-	(20,000)	-	-	-
Net outgoing
resources before
transfers			(41,428)	(2,735)	(44,163)	(25,141)	(1,725)	(26,866)
Gross transfers
between funds			(2,735)	2,735	-	-	-	-
Net (expenditure)/
income for the year
Net movement in	funds		(44,163)	-	(44,163)	(25,141)	(1,725)	(26,866)
Fund balances at 1		April
2024			735,725	8,521	744,246	760,866	10,246	771,112
Fund balances at	31
March 2025			691,562	8,521	700,083	735,725	8,521	744,246

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HARINGEY CHINESE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

• 11 -

HARINGEY CHINESE CENTRE BALANCE SHEET AS Af31 MARCH 2025 2025 2024 Noto$ Flxttd a$sets Tanglble assals Inve81ment properties 14 10 241,414 390,000 241,811 410,000 631,414 651,811 Current assets Debtors Cash at bank and In hand 18 6,568 80,902 7,133 103,555 87,470 110,688 Credltor8', amounts falllng duo wlthln ono year 17 (18,801) (18,253) Net current asséts 68,669 92,435 Total assets less current Ilabllltle5 700,083 744,246 InGome funds R8Stricted funds 19 8,521 8,521 Design8tod funds other reseNes General unrestricted funds 20 21 189,738 269,287 232,539 189,736 289,287 256,702 Unrestrlcted funds 691,562 735,725 891,582 735,725 700,083 744,246 The financlal statem•nt$ wore approved by the Trustèes on 29 January 2026 Mr Gavln Fung T￿￿te0 Company Regl atfon No. 25 12-

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Haringey Chinese Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 211 Langham Road, London, N15 3LH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

• 13 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the costs of running the school, running the centre and the services it provides, the cost of working within the wider community and other activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's artistic programmes and activities. These costs have been allocated between expenditure on charitable activities. The bases on which support costs have been allocated are set out in the notes.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings not depreciated Plant and equipment 25% reducing balance

Freehold land is not depreciated. Freehold property is not depreciated due to high residual value of the property.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charitable company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The charity's rental income is not part of the charity's primary purpose. If the rental income is within the small trading tax exemption, the whole rental income will not be taxable but if the rental income is higher that the exemption limits then tax will be payable of the profit of that trade.

• 15 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Donations and legacies

Donations and gifts Charitable activities Sale of goods Other income Analysis by fund Unrestricted funds - general Restricted funds	School 2025 £ 30,303 - 30,303 30,303 - 30,303	Unrestricted Restricted funds funds general 2025 2025 £ £ 2,371 1,000 Outings Total 2025 School 2025 2024 £ £ £ - 30,303 31,210 2,921 2,921 - 2,921 33,224 31,210 - 30,303 31,210 2,921 2,921 - 2,921 33,224 31,210	Total Unrestricted funds general 2025 2024 £ £ 3,371 3,654 Outings Total 2024 2024 £ £ - 31,210 8,040 8,040 8,040 39,250 - 31,210 8,040 8,040 8,040 39,250	Total Unrestricted funds general 2025 2024 £ £ 3,371 3,654 Outings Total 2024 2024 £ £ - 31,210 8,040 8,040 8,040 39,250 - 31,210 8,040 8,040 8,040 39,250
				Total 2024 £ 31,210 8,040
				39,250
				31,210 8,040
				39,250

3 Charitable activities

4 Income from other trading activities

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Non-charitable trading activities	24,755	24,656

• 16 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5 Investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2025	2024
	£	£
Interest receivable	1,587	1,378
Other income
	**Unrestricted **	Unrestricted
	funds	funds
	general	general
	2025	2024
	£	£
Accupuncture	22,626	19,536

6 Other income

• 17 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Charitable activities

Staff costs Depreciation and impairment Outings expenses School expenses Share of support costs (see note 8) Share of governance costs (see note 8) Analysis by fund Unrestricted funds - general Restricted funds	School 2025 £ 43,364 - - 1,135 44,499 4,284 3,994 52,777 52,777 - 52,777	Outings Centre activities 2025 2025 £ £ 3,053 26,889 - 398 3,603 - - - 6,656 27,287 - 3,615 - 3,371 6,656 34,273 - 34,273 6,656 - 6,656 34,273	Total 2025 £ 73,306 398 3,603 1,135 78,442 7,899 7,365 93,706 87,050 6,656 93,706	School 2024 £ 47,348 - - 2,287 49,635 7,748 3,874 61,257 61,257 - 61,257	Outings Centre activities 2024 2024 £ £ 2,076 26,923 - 530 7,689 - - - 9,765 27,453 - 5,757 - 2,878 9,765 36,088 - 36,088 9,765 - 9,765 36,088	Total 2024 £ 76,347 530 7,689 2,287
						86,853 13,505 6,752
						107,110
						97,345 9,765
						107,110

• 18 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs Support costs Governance costs £ £ Premises costs 3,610 - Insurance 724 - Printing, postage and stationery 206 - Repairs and maintenance 224 - Telephone 2,524 - Computer and website 218 - Professional fees and subscriptions 237 - Bank charges 156 - Audit fees - 7,365 7,899 7,365 Analysed between Charitable activities 7,899 7,365	2025 Support costs Governance costs £ £ £ 3,610 5,300 - 724 1,173 - 206 562 - 224 454 - 2,524 5,080 - 218 184 - 237 596 - 156 156 - 7,365 - 6,752 15,264 13,505 6,752 15,264 13,505 6,752	2024 £ 5,300 1,173 562 454 5,080 184 596 156 6,752
		20,257
		20,257

Governance costs includes payments to the auditors of £7,365 (2024 - £6,752) for audit fees.

• 19 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees The average monthly number of employees during the year was:
	2025	2024
	Number	Number
Full time staff working in the management of the centre	2	2
Part-time teachers	5	6
	7	8
Employment costs	2025	2024
	£	£
Wages and salaries	71,331	74,116
Social security costs	1,277	1,557
Other pension costs	698	674
	73,306	76,347

There were no employees whose annual remuneration was £60,000 or more.

11 Rental expenditure

	**Unrestricted **	Unrestricted
	funds	funds
	general	general
	2025	2024
	£	£
Repairs and maintenance	8,400	175
Property insurance	1,399	937
Staff wages	3,854	2,703
Accountancy fees	318	382
General costs	-	180
	13,971	4,377

This year, the company's rental income is subject to corporation tax as it has exceeded the small trading exemption. The expenses relating to the rental activities are now shown separately.

• 20 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Net gains/(losses) on investments

	Unrestricted	Total	Total
	funds
	Other
	reserves
	2025	2025	2024
	£	£	£
Revaluation of investment properties	(20,000)	(20,000)	-

13 Taxation

This year, the charity's rental income is not exempt from tax within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 as it represents more than 25% of the total income.

UK corporation tax on profits for the current period Total tax charge	2025 £ 2,049 2,049	2024 £ 3,853
		3,853

The charge for the year can be reconciled to the profit per the profit and loss account as follows:

	2025
	£
Rental income	24,755
Less rental expenditure	(13,971)
Profit before taxation	10,784
Expected tax charge based on the standard rate of corporation tax in the UK
of 19%	2,049
Taxation charge in the financial statements	2,049

• 21 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Tangible fixed assets

Cost At 1 April 2024 At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charged in the year At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024	Land and buildings Plant and equipment £ £ 240,223 98,788 240,223 98,788 - 97,200 - 397 - 97,597 240,223 1,191 240,223 1,588	Total £ 339,011
		339,011
		97,200 397
		97,597
		241,414
		241,811

The asset under the heading of land and buildings is the property at 211 Langham Road which is shown at cost. It has an estimated market value of £635,000.

15 Investment property

Fair value At 1 April 2024 Net gains/(loss) through fair value adjustments At 31 March 2025	2025 £ 410,000 (20,000
	390,000

Investment property comprises two ground floor retail units in Langham Parade and Langham Road, London. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Capital Homes, who are not connected with the charitable company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in October 2025.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been £120,713.

16 Debtors

Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income	2025 £ 3,250 929 2,389 6,568	2024 £ 4,406 731 1,996
		7,133

• 22 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Creditors: amounts falling due within one year

Corporation tax payable Other taxation and social security Other creditors Accruals and deferred income 18 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes	2025 £ 2,049 6,898 2,538 7,316 18,801 2025 £ 698	2024 £ 3,853 7,548 - 6,852
		18,253
		2024 £ 674

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

			Movement in funds	Movement in funds
		Balance at	Incoming	Resources	Transfers	Balance at
	1	April 2024	resources	expended		31 March 2025
		£	£	£	£	£
Centre
development
fund		8,394	-	-	-	8,394
Outing		-	3,921	(6,656)	2,735	-
Computer		127	-	-	-	127
		8,521	3,921	(6,656)	2,735	8,521

Centre development fund is money given for the development of the centre. This year, there was a transfer from the unrestricted funds to restricted funds to cover for the shortage of funds for the Chinese New Year festival event.

• 23 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

		Movement in
		funds
	Balance at	Incoming	Balance at
	1 April 2024	resources	31 March 2025
	£	£	£
Dilapidations	35,000	-	35,000
Centre development fund	154,736	-	154,736
	189,736	-	189,736

The dilapidation fund is fund designated for the maintenance of the centre's two investment properties.

Centre development fund is fund designated for the development of the centre.

21 Unrestricted funds - Other reserves

The income funds of the charity include other reserves which are gains arising from fair value adjustments of the investment properties

		Balance at	Gains and	Balance at
	1	April 2024	losses	31 March 2025
		£	£	£
Other reserves		289,287	(20,000)	269,287

• 24 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Analysis of net assets between funds Unrestricted funds Designated funds Restricted funds Other reserves 2025 2025 2025 2025 £ £ £ £ Fund balances at 31 March 2025 are represented by: Tangible assets 241,414 - - - Investment properties - 120,713 - 269,287 Current assets/(liabilities) (8,875) 69,023 8,521 - 232,539 189,736 8,521 269,287	Total Unrestricted funds Designated funds Restricted funds Other reserves 2025 2024 2024 2024 2024 £ £ £ £ £ 241,414 241,811 - - - 390,000 - 120,713 - 289,287 68,669 14,891 69,023 8,521 - 700,083 256,702 189,736 8,521 289,287	Total 2024 £ 241,811 410,000 92,435
		744,246

• 25 -

HARINGEY CHINESE CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

23 Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

	2025	2024
	£	£
Within one year	-	1,022

Lessor

The operating leases represent leases of retail premises to third parties. The leases are negotiated over terms of 3-5 years and rentals are fixed for the term of the lease.

At the reporting end date the charitable company had contracted with tenants for the following minimum lease payments:

	2025	2024
	£	£
Within one year	20,083	23,000
Between two and five years	-	20,083

24 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

• 26 -