Report &
Unaudited
Financial
Statements
For the year ended 31 December 20?3
Shaolin Temple UK
China Cultural Fund
Charity Registration No. 1057407

Shaolin Temple UK China Cultural Fund
Contents
Charity Information: Page 2
Trustees, annual report: Page 3-4
Structure, governance and management
Selection of Trustees
Responsiblities of the Trustees
Public benefit
Risk management
Review of Activities and Future plans
Independent Examiner's report-. Page 5-6
Statement of financial activities-. Page 7
Balance sheet- Page 8
Notes to the financial statements: Page 9-14

Shaolin Temple UK China Cultural Fund
Charity Information
Registered Charity No:
1057407
Principal address
207A Junction Road
London
N19 5QA
Trustees
Mr. Yan21 Shi
Mrs. Peixin Guan
Mr. Milan Kapetan
Mr. Akindele Akinsiku
Chairman
Bankers
Nat West Bank PIC
Wood Green
14 The Broadwav
London
N22 6DS
Independent Accountant
Man&Co
Chartered Accountants
114 Hamlet Court Road
Westcliff-on-sea
Essex
SSO 7LP
Page 2

Shaolin Temple UK China Cultural Fund
Trustees. annual report for the year ended 31 December 2023
The Trustees of China Cultural Fund with the working name 5haolin Temple UK present their report and unaudited
financial statements for the year ended 31 December 2023.
Structurei governance and management
China Cultural Fund is a charity whose charity registration number is 1057407. The Charity has a board of Trustees,
currently five151 who are responsible for controlling the work, management and the administration of the charity for
its beneficiaries.
Selection of Trustees
Any individual ca n become a trustee of China Cultural Fund, if prepared to offer their time free to attend board
meetings and help in the management and controlling of the charity.
To be a trustee, that individual must be nominated by any current trustee and must show that they have some
knowledge of management and or a skill that will benefit the charity. New Trustees are introduced at a General
Meeting. and provided with the necessary background papers and briefings.
Responsibilities of the trustees
Charity 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 China Cultural Fund and of its income and expenditure for the financial year. In preparing
financial statements the Trustees are required to-.
select suitable accounting policies and then apply them con5iStently-
observe the principles and methods of the Charities SORP-
make judgments and estimates that are reasonable and prudent-
prepare the financial statements on a going concern basic unless it is inappropriate to assume that the
charity will continue in operation-
state whether applicable accounting standards and statements of recommended practice has been followed.
subject to any departures disclosed and explained in the accounts.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of China Cultural Fund and to enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of China Cultural Fund and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Public benefit
The Trustees have complied with their duty as per the Charities Act 2011 to have due regard to Public Benefit
guidance published by the Charity Commission.
The Charity advances the Chinese culture of martial arts for the public benefit by serving London and elsewhere
through the education in Chinese philosophy, religion, history. culture and by providing and assisting the provision of
facilities for the recreation of leisure time occupation of the public.
Page 3

Shaolin Temple UK China Cultural Fund
Trustees. annual report for the year ended 31 December 2023 (continued)
Risk management
The Trustees have a risk management strategy which comprises:
An annual review of the risks China Cultural Funds may face-
The establishment of systems and procedures to mitigate those risk identified in a risk register;
The irnplementation of procedures designed to minimise any potential impart on China Cultural Fund should
these risks materialise.
The trustees aim to review a section of the Risk Register at each of its meetings.
Risk is considered under the following 8 headings=
11 Governance risks, associated with the lack of strategic direction of distinctive ethos.
21 External risks
3) Personnel risks
4) Personnel risks
5} Financial risks
6) Operational risks
Review of activity and future plans
2023 can be characterised by continuing transition and consolidation.
The challenges in 2023 for the charity was-
The other was to continue to build on the membership of the charity to enable its survival. Following the
pandemic. the cost-of-living crisi5 has hit the charity hard. Worship and meditation has become paramount
in the eyes of the community.
We continue to strive to build this community base charity. We will continue to offer the recreational activities to the
public.
Future plans. to continue to grow the membership of the charity. To build lasting relationship and to help Londoner5
to fulfil their potential in whatever they are doing. The charity plans to look at other venue5 to promote martial arts.
The covid-19 pandemic has made us change our priority. The charity had to close its doors for more than 6 months,
but has use multimedia platforms to continue its programme of training.
The trustee have considered the impact of the pandemic and are monitoring its effect on the charitv.
signed on behalf of the board
Yanzi Shi
Chairman
1st October 2024
Page 4

Shaolin Temple UK China Cultural Fund
Independent Examiner's report to the trustee of China Cultural Fund
Opinion
We have examined the financial statements of China Cultural Fund (the 'charity'l for the year ended 31
December 2023 which comprise of the statement of financial activities. the balance sheet, and notes to the
financial statements. Including a summary of significant accountin8 policies.
In our opinion, the financial statements..
give a true and fair view of the state of the charity'5 affairs as at 31 December 2023 and of 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 examination in accordance with the applicable law. Our responsibilities under these standards
are further described in the Examiner's responsibilities for the fir)ancial statements section of our report. We are
Independent of the charity in accordance with the ethical requirements that are relevant to our examination 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 examined evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
We are Satisfied that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination. We report to the trustees in respect of our examination of the
charity's accounts a5 carried out under section 145 of the Chafltes Act 2011. In carrying out our examination we
have followed the directions given by the Charity Commission under section 145{5llbl of the 2011 Act.
Opinions on other matters prescribed by the Companies Act 2006
IrTr our opinion, based on the work undertaken in the course of the examination=
the information given in the Trustees, Report prepared for the purposes of company law, for the
financial year for which the financial statements are prepared is consistent with the financial
5tatements- and
the Trustee's Report has been prepared in accordance with applicable legal requirement5.
Responsibilities of Trustees
The trustees 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 trustee are responsible for assessing the charity's ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unles5 the trustees either intend to liquidate the charity or to cease operations, or have no realistic
alternative but to do so.
Page 5

Shaolin Temple UK China Cultural Fund
Independent Examiner's report to the trustee of Chlna Cultural Fund (continued)
Examiners responsibilities
Our objectives are to obtain reasonable assurance about whether the f inancial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an examiner's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an examination conducted
in accordance with ISAS IUKI 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.
Signed:
Jvil[
Viclor Man FCA
Man&Co
Chartered Accountants
114 Hamlet Court Road
Westcliff on Sea
Essex
SSO 7LP
Date: 01.10.2024
Page 6

Shaolin Temple UK China Cultural Fund
statement of financial activities for the year ended 31 December 2023
2023
Total
2022
Tota I
Notes
Unrestricted
Restricted
Income
Donations and legacies
Investment Income
Other Income
19,161
19,161
5,957
90,031
90,031
125,531
Total Income
109.192
109,192
131,488
Expendtture
Cost of Raising Funds
Charitable activities
6.791
93,922
6,791
93,922
10,985
131,916
Total Expenditure
100.713
11)0.713
142,901
Operating Surplus/lDeficitl
Net gains on investments
8,479
8,479
{11.4131
Net Income/lExpenditurel
8.479
8.479
111.4131
Net Movement
Reconciliation of Funds
Total funds brought forward
11,12
12,768
12,768
24.181
Total funds carried forward
13
21,247
21,247
12,768
The Charity statement of financial activitie5 include5 all recognised gains or105ses in the year
Page 7

Shaolin Temple UK China Cultural Fund
Balance sheet at 31 December 2023
Notes
2023
2022
Fixed assets
Tangible fixed assets
9,648
14,362
Investments
9.648
14.362
Current assets
Stock
Debtors
Cash at bank & in hand
3.882
3,582
21.570
10.566
25.452
14,148
Creditors - Amounts failing due after one year
io
113,8531
{15,7421
Net current Assets
11,599
11.5941
Total assets less current liabilities
21.247
12,768
Funds
Restricted
li
1,875
1.875
Unrestricted
12
19,372
10.893
21,247
12,768
Approved by the Trustee5 on 1st October 2024
and signed on their behalf bv:
Yshi
Trustee
Page 8

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023
China Cultural Fund is a charity registered with the charity commission (Charity No. 10574071. The
registered address is 207A Junction Road, London N19 5QA.
1.1 Accounting policies
The principal accounting policies adopted, judgement5 and key sources of estimation uncertainty in the
preparation of the financial Statement are as follows:
1.2 Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities Statement of Recommended Practice applicable to Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR51021
leffective l January, 20151- (Charities SORP IFR51021, the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS1021 and the Companies Act 2006.
China Cultural Fund meets the definition of a public benefit entity under FR5102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accou nting policy note.
1.3 Going Concern
The trustee have prepared the financial statement on a going concern basis. The trustees have
carefully considered the budget for the 12 months from the date of signing and believe that China
Cultural Fund has sufficient funds to meet their liabilities as they fall due.
1.4 Income
Income is recognised when the charity has entitlement to the funds and it is probable that the fu nds
will be received and the amount can be measured and is not deferred. Interest receivable is dealt with
on an accruals basis. Investment income is dealt with on an accruals basis.
1.5 Unrestricted funds
These are fund5 which can be used in accordance with the charitws object5 at the discretion of the
trustees.
1.6 Restricted funds
These are funds which can only be used for particular restricted purposes within the objects of the
charity. Restrictions may arise when specified by the donor or when fund5 are raised for particular
restricted purposes.
1.7 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 reliably
measured. Cost of raising funds - This comprises all costs incurred in attracting voluntary income. Costs
of charitable activities - This comprises all costs directly related to the objectives of China Cultural
Fund.
Page 9

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023 (Continued)
Accounting policies (continued)
1.8 Depreciation
Material individual fixed assets are capitalised at cost. Depreciation is calculated to write off the cost of
fixed assets in use at the balance sheet date on the basis described in note 10.
Depreciation and surpluses or losses on the disposal of fixed assets used for charitable purposes are
reflected in the Statement of Financial Activities before stating net income before transfefs. The
charity adopts a policy of revaluation for its properties. Further detail is provided in note 10.
1.9 Investments
Investments are stated at market value on the last day of business in the accounting period. Gains and
losse5 on the disposal of investments together with unrealised gains or losses on the annual
revaluation are disclosed in aggregate in the Statement of Financial Activities.
1.11 Operating leases
Rentals applicable to operating leases where are the benefits and risks of ownership remain
substantially with the lessor are charged to the Statement of Financial Activities as incurred over the
term of the lease.
1.12 Stock
Stock is included at the lower of the cost or net value. Donated items of stock are recognised at fair
value.
1.13 Critical Accounting Judgements and Estimation Uncertainty
The directors evaluate estimates and judgements incorporated into the financial statements. Estimates
are based on historical information. assume a reasonable expectation of future events and are based
on current trends and economic data, obtained both externally and within the charity-
1.14 Charitable Activity
The charitable activity are calculated by removing the cost5 which relates to the cost of raising funds
(Note 41.
Page 10

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023 (Continued)
Donations & legacies
Unrestricted
Restricted
2023
Total
2022
Total
Donations
Legacies
19,161
19,161
5.957
19,161
19,161
5.957
Other Income
Unrestricted
Restricted
2023
Total
2022
Total
Membership
Goods Sales
Government Grants
Others
79,832
10,199
79,832
10,199
117.029
8.502
90,031
90,031
125,531
Costs of raising funds
Unrestricted
Restricted
2023
Total
2022
Total
Fundra ising Trading Costs
6,791
6.791
6.791
6.791
10,985
10.985
Charitable artivitie5
Unrestricted
Restricted
2023
Total
2022
Total
Ernployee Costs
Motor & Travel
Premises
General Admin
Legal & Professional
Depreciation
28,463
4,302
32,985
20,700
2.758
4.714
93,922
28,463
4,302
32,985
20,700
2,758
4,714
93,922
30.759
1,820
32,090
40,931
21.602
4,714
131.916
Page 11

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023 (Continued)
Staff costs
2023
Total
2022
Total
Salaries
Social security costs
26.437
2,026
28,463
30,228
531
30,759
No employee was paid at a rate of £ 60,000 or above.
Fixed assets
Furniture and
equipment
Total
Cost or valuation
At l January 2023
Additions
23.569
23.569
23.569
At 31 December 2023
23,569
47,138
Depreciation
At l Jariuary 2023
Charge for the year
9,207
4,714
9,207
4.714
At 31 December 2023
13.921
13,921
Net book value
At 31 December 2023
9.648
9,648
At 31 December 2022
14.362
14,362
Stocks
2023
Total
2022
Total
Finished Goods
3,882
3,882
3,582
3,582
Page 12

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023 (Continued)
Debtors
2023
Total
2022
Total
Prepayments & Accrued income
Other debtors
10 Creditors
2023
Total
2022
Total
Other CreditorslBank Loan}
Net Wages Payables
10.709
3.144
13.853
15.742
15,742
11 Restricted funds
2023
Total
2022
Total
Funds at ljanuary
Income
1,875
1,875
Expenditure
Loss on investment
Transfers between funds
Balance as at 31 December
1.875
1.875
12 Unrestricted funds
2023
Total
2022
Total
Funds at l January
Income
Expenditure
Loss on investment
Transfers between funds
10,893
148,042
(139,5631
22.306
131,488
1142,9011
Balance as at 31 December
19,372
10,893
Page 13

Shaolin Temple UK China Cultural Fund
Notes to the financial statements
for the year ended 31 December 2023 (Continued)
13
Allocation of net assets between funds
Unrestricied
Restricied
2023
Total
2022
Total
Tangible fixed assets
Investments
Net current assets
9,648
14.362
111,5991
1,594
Total funds at 31 December
21,247
12.768
14 Other Financial Commitments
2023
Total
2022
Total
Operating Leases
Expires within 2-5 years
15
Related Party Transactions
No Trustee5 and senior staff were Trustees of any other organisacions who are a550ciated with
China Cultural.
Page 14