Charity number: 1082578 Company number: 04026059 (England and Wales) Milton Keynes Chinese School & Community Centre Report of the Trustees and Unaudited Financial Statements For the period ended 31 August 2022 Milton Keynes Chinese School & Community Centre Contents Page For the period ended 31 August 2022 |Report of the Trustees|1| |---|---| |Independent Examiner's Report to the Trustees|2| |Statement of Financial Activities|3| |Statement of Financial Position|4| |Notes to the Financial Statements|5 to 9| |Detailed Statement of Financial Activities|10| Milton Keynes Chinese School & Community Centre Report of the Trustees For the period ended 31 August 2022 The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the period ended 31 August 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Milton Keynes Chinese School & Community Centre **Charity registration number** 1082578 **Company registration number** 04026059 **Principal address** St Paul's Catholic School Leadenhall Milton Keynes Buckinghamshire MK6 5EN ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: MAN LOK LEE JEANNIE SONG YONG CHOY KIET CHINH HUA XIANGLIN SUN HANYI XIE LI ZHAO ## **Independent examiners** Bidwell Accountancy Unit 157 Milton Keynes Business Centre Foxhunter Drive Linford Wood Milton Keynes MK14 6GD Approved by the Board of Trustees and signed on its behalf by ............................................................................. May 2023 MAN LOK LEE 1 of 10 ## Milton Keynes Chinese School & Community Centre Independent Examiners Report to the Trustees For the period ended 31 August 2022 I report to the trustees on my examination of the accounts of the charitable company for the period ended 31 August 2022. ## **Responsibilities and basis of report** As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. John Pratt Bidwell Accountancy Unit 157 Milton Keynes Business Centre Foxhunter Drive Linford Wood Milton Keynes MK14 6GD 31 May 2023 2 of 10 ## Milton Keynes Chinese School & Community Centre Statement of Financial Activities (including Income and Expenditure Account) For the period ended 31 August 2022 |**Income and endowments from:**
**Notes**
Other trading activities
2
**Total**
**Expenditure on:**
Charitable activities
3 / 4
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
62,094
**62,094**
(41,130)
**(41,130)**
**20,964**
135,701
**156,665**|**2021**
**£**
117,620| |---|---|---| |||**117,620**| |||(44,756)| |||**(44,756)**| |||**72,864**
62,837
**135,701**| 3 of 10 04026059 Registered Number : ## Milton Keynes Chinese School & Community Centre Statement of Financial Position As at 31 August 2022 |**Fixed assets**
**Notes**
Tangible assets
9
**Current assets**
Stocks
10
Cash at bank and in hand
**Creditors: amounts falling due within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Unrestricted income funds
12
**Total funds**|**2022**
**£**
-
**-**
-
162,525
**162,525**
(5,860)
**156,665**
**156,665**
**156,665**
156,665
**156,665**|**2021**
**£**
75| |---|---|---| |||**75**| |||909
136,041| |||**136,950**| |||(1,324)
**135,626**| |||**135,701**| |||**135,701**| |||135,701
**135,701**| For the period ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. - The members have not required the company to obtain an audit of its accounts for the year in question in accordance - with section 476, - The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting - records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: MAN LOK LEE Trustee May 2023 4 of 10 ## Milton Keynes Chinese School & Community Centre Notes to the Financial Statements For the period ended 31 August 2022 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. Milton Keynes Chinese School & Community Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** ## **2. Income earned from other activities.** |**Unrestricted funds**
Charitable Activities|**2022**
**£**
62,094
**62,094**|**2021**
**£**
117,620
**117,620**| |---|---|---| ## **3. Costs of charitable activities by fund type** |**Unrestricted funds**
Charitable Activities
Support costs|**2022**
**£**
4,090
37,040
**41,130**|**2021**
**£**
9,375
35,381
**44,756**| |---|---|---| ## **4. Costs of charitable activities by activity type** ||**Activities**|**Grant**|**Support**|**2022**|**2021**| |---|---|---|---|---|---| ||**undertaken**|**funding of**|**costs**||| ||**directly**|**activities**|||| ||**£**|**£**|**£**|**£**|**£**| |**Support costs**|||||| |Charitable Activities|4,090||37,040|41,130|44,756| 5 of 10 ## Milton Keynes Chinese School & Community Centre Notes to the Financial Statements Continued For the period ended 31 August 2022 ## **5. Analysis of support costs** |**Charitable Activities**
Management
Governance costs|**2022**
**£**
35,612
1,428
**37,040**|**2021**
**£**
33,752
1,629
**35,381**| |---|---|---| ## **6. Net income/(expenditure) for the period** This is stated after charging/(crediting): |Depreciation of owned fixed assets
Accountancy fees
(Gain)/Loss on disposal of tangible fixed assets
|**2022**
**£**
75
1,428
-|**2021**
**£**
110
1,629
(5,218)| |---|---|---| ## **7. Staff costs and emoluments** Total staff costs for the period ended 31 August 2022 were: |Salaries and wages
Employees|**2022**
**£**
24,408
**24,408**
**2022**
24
**24**|**2021**
**£**
38,331
**38,331**
**2021**
20| |---|---|---| |||**20**| ## **8. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activities are for unrestricted funds. 6 of 10 ## Milton Keynes Chinese School & Community Centre Notes to the Financial Statements Continued For the period ended 31 August 2022 ## **9. Tangible fixed assets** |**Cost or valuation**
At 01 April 2021
At 31 August 2022
**Depreciation**
At 01 April 2021
Charge for period
At 31 August 2022
**Net book values**
At 31 August 2022
At 31 March 2021|**Plant and**
**machinery**
**£**
7,357
**7,357**
7,282
75
**7,357**
**-**
**75**| |---|---| ## **10. Stocks and work in progress** |Stocks of raw materials
**Creditors: amounts falling due within one year**
Accruals
Other creditors
Accruals and deferred income|**2022**
**£**
-
**-**
**2022**
**£**
4,900
-
960
**5,860**|**2021**
**£**
909
**909**
**2021**
**£**
-
364
960
**1,324**| |---|---|---| ## **11. Creditors: amounts falling due within one year** 7 of 10 ## Milton Keynes Chinese School & Community Centre Notes to the Financial Statements Continued For the period ended 31 August 2022 ## **12. Movement in funds** ## **Unrestricted Funds** |**Unrestricted Funds**||||| |---|---|---|---|---| |_General_
General
**Unrestricted Funds - Previous year**
_General_
General|**Balance at**
**01/09/2021**
**£**
135,701
**135,701**
**Balance at**
**01/04/2020**
**£**
62,837
**60,394**|**Incoming**
**resources**
**£**
62,094
**62,094**
**Incoming**
**resources**
**£**
117,620
**52,071**|**Outgoing**
**resources**
**£**
(41,130)
**(41,130)**
**Outgoing**
**resources**
**£**
(44,756)
**(49,638)**|**Balance at**
**31/08/2022**
**£**
156,665| |||||**156,665**| |||||**Balance at**
**31/08/2021**
**£**
135,701
**62,827**| ## **Purpose of unrestricted Funds** ## General This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. ## **13. Analysis of net assets between funds** |**Un**
**Previous year**
**Unrestricted funds**
_General_
General
**restricted funds**
_General_
General||**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
75
135,626
135,701
**75**
**135,626**
**135,701**
**Tangible**
**fixed assets**
**£**
**Net current**
**assets /**
**(liabilities)**
**£**
**Net Assets**
**£**
156,665
156,665
**-**
**156,665**
**156,665**| |---|---|---| |||| |||| 8 of 10 ## Milton Keynes Chinese School & Community Centre Detailed Statement of Financial Activities For the period ended 31 August 2022 |**INCOME AND ENDOWMENT**
**Other trading activities**
Income from Charitable Activities
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Cost of direct charitable activity
Cost of grant funded charitable activity
**SUPPORT COSTS**
**Management**
Management
**Governance costs**
Governance costs
**Total resources expended**
**Net Income**|**2022**
**£**
62,094
**62,094**
**62,094 **
(4,090)
**(4,090)**
(35,612)
**(35,612)**
(1,428)
**(1,428)**
**(41,130)**
**20,964**|**2021**
**£**
117,620| |---|---|---| |||**117,620**| |||**117,620**
(7,110)
(2.265)| |||**(9,375)**
(33,752)| |||**(33,752)**
(1,629)| |||**(1,629)**| |||**(44,756)**
**72,864**| ## **INCOME AND ENDOWMENT Other trading activities** 10 of 10 This page does not form part of the statutory financial statements.