Registered number 03553313
I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity)
Report and Unaudited Accounts
30 April 2023
I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Director's report | 2 |
| Profit and loss account | 3 |
| Balance sheet | 4 |
| Notes to the accounts | 5 — 7 |
| The following pages do not form part of the statutory accounts: | |
| Accountants' report | 8 |
| Detailed profit and loss account | 9 |
I-Kuan Tao United Kingdom - HQ (A company limited by guarantee with no share capital and a registered charity) Company Information
Director
L F Wang
Secretary
L K Gan
Accountants
Andrew Lim 111 Parsonage Lane Enfield Middlesex EN2 0AB
Bankers
Barclays Bank plc 212 Regent Street London W1
Registered office
Old Town Hall 14b Orford Road Walthamstow London E17 9NL
Registered number
03553313
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I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Registered number: 03553313
Director's Report
The director presents his report and accounts for the year ended 30 April 2023.
Principal activities
The company's principal activity during the year continued to be that of a non-profitmaking charitable organisation to advance religious and other eductaion for the benefit of children and adults. On 24 March 2000, the company was granted chartiable status and its registered charity number is 1079991.
Directors
The following persons served as directors during the year:
L F Wang
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 26 January 2024 and signed on its behalf.
L F Wang Director
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I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Profit and Loss Account for the year ended 30 April 2023
| Turnover Cost of sales Gross profit Administrative expenses Operating loss Interest receivable Loss for the financial year |
2023 £ 61,593 (4,586) 57,007 (59,452) (2,445) 417 £ (2,028) |
2022 £ 24,271 (2,958) 21,313 (49,261) (27,948) 7 £ (27,941) |
|---|---|---|
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I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Registered number: 03553313 Balance Sheet as at 30 April 2023
| Notes 2023 £ Fixed assets Tangible assets 3 1,118,819 Current assets Debtors 4 91 Cash at bank and in hand 108,548 108,639 Creditors: amounts falling due within one year 5 (6,969) Net current assets 101,670 Net assets £ 1,220,489 Capital and reserves Designated funds 6 1,414,190 Profit and loss account (193,701) Shareholder's funds £ 1,220,489 |
2022 £ 1,149,893 2,337 74,455 76,792 (4,168) 72,624 £ 1,222,517 1,414,190 (191,673) £ 1,222,517 |
|---|---|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L F Wang Director Approved by the board on 26 January 2024
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I-Kuan Tao United Kingdom - HQ (A company limited by guarantee with no share capital and a registered charity) Notes to the Accounts for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The principal accounting policies applied in the preparation of these financial statements are set out below.
Turnover
Turnover comprises of the value of subscriptions, gifts, donations and contributions from members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Leasehold property | 2% | straight line |
|---|---|---|
| Freehold property | 2% | straight line |
| Fixtures and equipment | 25% | reducing balance |
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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I-Kuan Tao United Kingdom - HQ (A company limited by guarantee with no share capital and a registered charity) Notes to the Accounts for the year ended 30 April 2023
| 2 Employees Average number of persons employed by the company 3 Tangible fixed assets Leasehold property Freehold property £ £ Cost At 1 May 2022 1,084,490 451,242 Additions — — At 30 April 2023 £ 1,084,490 £ 451,242 Depreciation At 1 May 2022 323,100 66,724 Charge for the year 21,690 9,024 At 30 April 2023 £ 344,790 £ 75,748 Net book value At 30 April 2023 £ 739,700 £ 375,494 At 30 April 2022 £ 761,390 £ 384,518 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Other creditors 6 Designated funds At 1 May 2022 At 30 April 2023 |
2023 Number - Fixtures and equipment £ 46,373 848 £ 47,221 42,388 1,208 £ 43,596 £ 3,625 £ 3,985 2023 £ £ 91 2023 £ £ 6,969 2023 £ 1,414,190 £ 1,414,190 |
2022 Number - Total £ 1,582,105 848 £ 1,582,953 432,212 31,922 £ 464,134 £ 1,118,819 £ 1,149,893 2022 £ £ 2,337 2022 £ £ 4,168 2022 £ 1,414,190 £ 1,414,190 |
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I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Notes to the Accounts
for the year ended 30 April 2023
7 Other information
I-Kuan Tao United Kingdom - HQ is a private company limited by guarantee with no share capital and a registered charity (registered number: 1079991) and incorporated in England. Its registered office is:
Old Town Hall 14b Orford Road Walthamstow London E17 9NL
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I-Kuan Tao United Kingdom - HQ
Chartered Accountants' report to the board of Directors on the preparation of the unaudited statutory accounts of I-Kuan Tao United Kingdom - HQ for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of I-Kuan Tao United Kingdom - HQ for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of directors of I-Kuan Tao United Kingdom - HQ, as a body, in accordance with the terms of our engagement letter dated 21 August 2020. Our work has been undertaken solely to prepare for your approval the accounts of I-Kuan Tao United Kingdom - HQ and state those matters that we have agreed to state to the Board of directors of I-Kuan Tao United Kingdom - HQ, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I-Kuan Tao United Kingdom - HQ and its Board of directors as a body for our work or for this report.
It is your duty to ensure that I-Kuan Tao United Kingdom - HQ has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of I-Kuan Tao United Kingdom - HQ. You consider that I-Kuan Tao United Kingdom - HQ is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of I-Kuan Tao United Kingdom - HQ. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Andrew Lim Chartered Accountants 111 Parsonage Lane Enfield Middlesex EN2 0AB
26 January 2024
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I-Kuan Tao United Kingdom - HQ
(A company limited by guarantee with no share capital and a registered charity) Detailed profit and loss account for the year ended 30 April 2023
This schedule does not form part of the statutory accounts
| Sales Subscriptions and donations income Cost of sales Event and meetings expenses Administrative expenses Premises costs: Rates and water Light and heat Insurance General administrative expenses: Telephone and internet Postage and stationery Travelling and subsistence Bank charges Repairs and maintenance Depreciation General expenses Legal and professional costs: Accountancy fees Other legal and professional |
2023 £ £ 61,593 £ 4,586 1,478 11,991 4,883 £ 18,352 737 29 97 81 6,371 31,922 13 £ 39,250 1,850 — £ 1,850 £ 59,452 |
2022 £ £ 24,271 £ 2,958 1,167 7,235 4,912 £ 13,314 734 56 119 92 218 32,042 15 £ 33,276 1,850 821 £ 2,671 £ 49,261 |
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