REci¥fERED COMP.4liY NLMBER: 043725￿ (England and W*les) REGISTERED CHARITI" NUhlBER: 1098665 TRUSTEES, REPORT AND NAUDITED FIN.4NCI.4L T.4TEIIENTS FOR THE VEAR EYDED31 DECEMBER 2024 FOR I-TNC CHI BLDDHIST TEMPLE A COfvIP.4NV LI%IITFD BI. GL.4K4N'TEE YINC CHI BUDDHIST TENIPLE CON'TEN'T F THE FINANCI.4L ST.4TEIIEYTS FOR THE IEAR ENDED31 DECENIBER 2024 Pagt Refeiettte and Admini5tr#tive Det411s "rru5tee5' Rtport Independent ExaEnintr's Report Statement of Finanti#l AttiTrities Balance Sheet Nott$ to the Financial Statemtnts 8- 15 Detailed Siatemettt of Financial Activities 16 YIN HI BUDDHISTTEMPLE REFERENCE ADMINI ISTRATIVE DETAILS FOR THE YEAR ENDEDJI DECE￿IBER 2024 TRUSTEES klrKSLau MrsYHLau MSSCSMO SECRETARY MICFCChan REGISTERED OFFICE Clacion R(wJ Bruce Grove London N176UG REGISTERED COMPANY NLIMBER 04372590 (England and Wales) REGISTERED CHARITY NUMBER 1098665 Page I YIN HI BUDDHIST TENIPLE TRUSTEES, REPOR'r FOR THE YEAR E￿DED 31 DECEi¥IBER 2014 The trustees who a￿ 20191. l }IklF.C."I'IVES .45D ICT1￿.1T1ES Iii ( IiJi'iii s {)bjLLL5 Jrt LCI pronitsie the tnenial or mor41 improierneni or Spiritu￿ welfare of the public bv PTomoiirtg rhe tea¢hing5 of l LbiiliiLls¢ of¢ompan&' laii.. artd ii'ho seNed dutinq the year and up u> the dale of signature Pa8e 2 YINC CHI BUDDHISTTEMPLE TEES, REPORT FOR THE VEAR ENDED 31 DECEMBER2024 The IrLLsiees are appointed by way of a vole and rec(￿MendaTion. li is then approved bv the txmrd of inL$￿e$ through a simple rnajoriiy. 'rhe tTUStees are eligible io appoint additional trusiees ￿nder the ierns of the Article ofA&sociaiion of the company. N¢)ne of the [ruS￿e5 ha5 any kneficiol irtterest in thc compam... All of the Erwees aremembersofthe oimpanv and gu4tr8nièe li) Liiniribui £1 in the tVenL of a winding up. The day of day operation and the decisi0Th5 rnak.ing ofthe charity are managed by th¢ tru￿et Approved bv order of the Eoard of¢msLees on . 4nd signed on its khalf b%,: Ms S C S Mo- Trusie¢ PaEe 3 Ip lttdeptlldtut ÈxiwiiitT'I fEPDrtt• th¢ iTU#tts ofYin¥ Chl Buddbist Ttrtplt I'toe Cwp•F>? I r¢por¥ w Ihe chariw inj5t￿on my ex*#itiiitOEt of the Ltsfflpani. forthe >"c4rended 31 ?J)24. Re5POttsibllttits And b15is of -.h-rti! s iru5tet5 olthe Corawv iawj alw its forthe puru05tt Dfrom￿Y lawl >w*rt Ye4x)DsJbk for the -i'hinii '.1LLYirdantt iwth the rtquirtThcntso(the Cwpaoies ALI fiht 2W¥ Act'l. j14LX.' fflvsell'thaÉthe ￿e￿Ots01.1kne C0jThp￿)'￿c re4u5r& io beaudiEed Part 16 oftt*20L￿A(1 digi￿¢ f4)r lJ"'P¢i)d¢ni eyaMin￿lOft, I ¥q)(>rt SftTtytiof mv cx8minatiohofyDwcDaTiP satt ￿Tt￿tiN in crSnDeui￿ with the exarnllwioTr givi￿ 10 ¥¢tyJlliing rxord5 kept.￿ orth¢ Comwi as reqEknRd ￿, s￿lI0n 386 of th¢ ?006 Actr. the xcowity ¢tr* rtOLACO)rd*ithiho5t te¢th￿s. or th¢ ¥wyn¢s do noi cempli li ith th* ac£ouniiii g reqii4re4ients ofs¢cli￿ of the 2[￿ Act otherihan atry r¢quirtmenEthu the arxwnts give a fir i.le￿. i4hich is a ￿aller iJJnsi&tckn' ts ¥Thrt cfLn Inde[￿￿1 ¢vmiwion: or thc a£Lounu h8¥.¢ not b.yn preptrea in a￿L0*dantr the rn¢iP.oth and ￿1￿c,.ple5 of StyomtnE oi Prtcu ror ￿0￿n￿n8 and teporEiiÈ b! 4hap.iie5 lappit￿b￿ 10 th%ri41¢5 FIC￿l￿.E Ine1¥ Xco￿[$ a￿￿dIn¢t vtth the FinanciRI ReportinE app.ick?l¢ in.he l."k 2nd R¢wbli£ ofireJ8rsd IrF￿ 10211. no oYKtms ￿ hate£iT.= w tr.htr mattffj ID Coor￿1th ivith th¢ el￿1￿&0￿ Lts outmion Should ornyn In.:hi '.} ¥+rder i.l £iJb t i-w'.Ir Jr.Jv5ts-TTJin8 ofithe T￿lS w be le1th￿. Is Ka l-tt.4u I'tun8 3 Gl¢ni4fyK Grten Lisbtsrn BT?h-.l-S P6. The Irustees acknoivledge their res[￿sIbilItieS for la} ensuring thai the charitable companv keeps accounting re£or(ts thai comply with Sedions 386 and 387 of the Cornpanie5 Aci 2006 and Preparing ftnancial 5ratements which give a tnje and fair vitti" of the sthtr of offoirs of the charitable ¢ortJpan> as at th¢ end of each financial vear and of is surylus or deficii f4Jr e2th financial year in a¢¢ordaDc¢ u.ith the requiretnents ofse¢iion$ 394 and 395 and which otherwise complv w'iih the Teqllitemtnts of ihe Companies Aci 2(K16 relating to financial stttements, so far as applicable ￿ the chantable Companv. {bl Page 6 YING CHI BU HI T TEMPLE BALANCE SHEET- 31 DECEMBER2024 niinued These financial ststements havt prepared in accordance li.iih the provisions applicable io charitable coTnpani¢s subject to the small ¢otnpanies regimt. The financial statemenLS wereapproved by the Board of TrnsLees and authorised forixsueon.................. on ils behalf bv.. . and ￿'ere signed M5SCSMo.Tnks*e Page 7 YING CHI BUDDHISTTENIPLE THE FI￿.1￿Cl.￿L STATE_IIEYTS FOR THE YEIIR ENI DED 31 DECE￿IBER 2024 AccouprfiNG POLICIES BASIS OF PREPARING THE FIIN.4NCIAL ST.ATEMEF4TS 1.11￿ f1naniial 5th1etn¢nis of the charithble ¢oTnpan!'. ii.hiih is a publ>c benefi( enti￿ under FRS 102. have been prepared in aiii)I'd."Lnci Il"Ith ihe Charities SORP IFRS 1021'.4tcouniing and R¢portiDg bi, Chariiies-. Sthiemeni of Recommended Prnbli¢e a5TriTrliiablL 10 iliclriiie5 preparing Iheir accounts In accordance ii.iih the Financial Reporting Standard applicable in Ihe UK and Ri,?ublii ot'TTeland {I.-RS 10?) leffL￿71'e l Januarn" 2019).. Financial Reporting Standard 102'The Fsnancial Reporting Stsndard applicable in the UK and Republic of Ireland. and the Companies_4ct ?006_ The financial statements have been Prepared llnder the hisioriLal Losi conveniaon. GOIING CONCERN At Ihe lime of approi.ing ihe firLaThciai Staternen￿ the Ir￿ hai'e a reu￿able expe¢&iion thai the Charity ha5 adcquate TesouTees 10 coniinue in oper*ional exisienee for the foresttable fuiure. Thus the twsiees coniinue ￿ adopi the going concern basis of aicouniing in prepariThg Ihe financial ststements. CHARTtABLE FUNDS UnTe51rict¢d funds ￿re ai'ailable for us¢ ai the discretion of the Irustees ITh fi]rtherance of Ihtir charithble objectives. Resiricted funds are Subjeci to swific cot)diiions bj donors as io ho￿. the}. mafv k used. The Purposes and uses of the r&strs¢t¢d fund5 are sd out in the note$ 10 the financiJ SE*em¢ni5. Endowment funds are subject io specific conditions bi. don(Ks thaT the ¢apTul must be mainuined b)T the CharitN'. IN.COMF. .)mi 15 fLftigni5¢d in Ihe Siaiemeni of Financial .4ciii'iiie5 once ihe charl￿. h&s eniiilemettt io the fund8 it is probable that Ilii iliknl)IHL 11-ill biTh irieii-ld and lh¢ amouni Can be m¢￿uTed Teliabl}-. EXPENDITL'RE Liabiliiies aTe recognisd as expcndilure as soon as theTe is a legal or con5mcui'e obligation committing the charity io thar cxpendiiure. li is probable thaia iransfer o(economic benefis ii'ill k required in seiileTneni and Ihe arnount of the obligation can be measured reliablv. Expenditure 15 accounted for on an accruals basis and h&$ ￿en cl&ssifJed under headin8s that a8gregaie all COSI relaicd to the category. Ilyhere costs cannoi k direal& allributcd io particular hewjingsthes. ha￿¢ Fttn all￿ated ￿ aciii'iiie5 on a basi5 consisieni Ii"iEh the use of re50ur¢es. TAXATION The charii>' is e¥Lmpi from c4)rporaiion on its ch8rirabl¢ aciii'iiie5_ FLND ACCOUNTING Unrestricicd funds can be used in accordance the charsrable objeciiTres & the di5creiion of the trusiee& Restricied funds can onlv be used for particular r¢yricEed purw5es i&ithin the Objec￿ of thc ¢h¥ity. R¢5trictlOn5 arise ￿,he￿ sp¢citied b). Ihe donor or when funds are rdised l¢x panicul8r testric*d pur￿Ses. l.-uiilK'I" exi)Idnaticin of iht n&ure and purpose of each fund is included in ihe notcs to ihe financial staiemenis. Page 8 YING CHI BUDDHISTTEMPLE NO THE FITr4ANCIAL STATENIEliTS- continued R THE YEAR ENDED 31 DECEhIBER2024 TANGIBLE FIXED ASSETS Tongible fixed asses are iniiiall)" measured at tost and subsequenil!" measured ￿ cost or v)luation. net of deprtciaiion and an!, impairment losses. Deprcciation is reeoBni5ed so as to write off the cost or N'aluaiion of assets less their residual values oijer their useful lii."¢i l)ft ib.L follo￿1rtg b￿9.. Freehold land and buildings Fixtures. fitlings and tquipmenl 2•A per anfium on straighi line ? jo/• per annum on reducing b8]ar The gain or loss Jrising on iht disrrt)5aJ of an assei isdeternikned a5th¢ diff¢r¢nE bcti4.een the sale proce￿1$ and the carying iialue of ihe as8eL and is recogni5ed in the ￿ateMent ot-fsnancial a¢iitriiies. VMPAIRMENT OF FIXED ASSETS Ai each rewrting end date. the Chariii- rri1th1s the neL FMTrok value of its L2ngible a55ets to detemiine wheiher there is any indicaiion that those assets hai"t suffered an imp2irment los& Tfantr such Indic￿lon exists. The rccoverable amount of the asse is estimated in ord¢T to deLeTtnine Iht e.XEeni ofihe impairtnent Ioss (if an5'}. CASH AND CASH EQUIVALENTS Cash and ¢ash qutvalents included in hand. deposits htld ai fdll H"ith banks. other shon-ienn liquid ini'esimtnii¥iih orifiinÉil moturities of three months (K less. and bank. 0s.erdrafL& Bank ofverdTafis ￿e shown within iKbrroii ings in Current liahiliiics. Basic finantixl assets Basic financial %LSSCts, iTrhich include debiors and c&sh and bank balanLw are iniiialh, measured ai transaciion price inLludi1lL Iransociion costs and #rt sllbsequentl)" iarried ai aTnorti5ed COSL usine (he ttTeciiie iniere%L meihod unless the arraneLn)illl c0nsiitu￿S a finanLing transatt*on: iihere the tyansaciion is miasurid at Ihe pre5eni i'8luc of thi fuiure ttceipLS discounied & a arkei raie of inieresi. Financial a5seT5 cla54ified as rteeii4kble ii.iih on !"eaT are noi amonised. Basic finaneial li4bllities Basic financial liabiliiies. including LrediLOts and bank- loans ar¢ initi311!" ttCOEnised at tran>aciion price unless the aFrangement constilutcs a financing iraEwiion. wheTe The debt inswDieni is ffleasured ai Ihe preseni I'alue of ihe fuiure pa)mLnts discounied at a market rate of interest. Financial liabililies classified a5 pai'abl¢ ii"ithin one i'ar are noi amortised. Debi instwments are sub5equenil!' Carried at monised eosL ￿SiThg ihe effrtlii'e iniertSL rate meihod. Trade creditors are obligations ￿ pay for goods OT seThices th& haie been acquired in the ordinary course of 0￿rationS fi)mi suppliers. Amounis pai'able are cla55iticd as curreni liabilities if pa&meni is due 14'iihin one Ntar or less. Ifnot. they are p￿Sented as non-curreni liabililies. Trade LrediiorsarL' recogni5ed iniiiall)" at tTtsnwiion price and subsequently measured at amortlSLd co%1 using ihe effetiive interLI￿ mtihod. Derteognlilom of financial liabilRtie5 Financi￿ liabtliites are derecogni5ed wheTh ihe Chatii} S ¢On￿eL￿al obliwions elpire OT are dischwge5 or canLelled. Page 9 YINC CHI B DHI T TETrfPLE 'OTES TO THE FIN.4NCI.4L STATE1I£NTS-colltin￿ed R THE YEAR EliDED 31 DECEIlIB£R 2024 CASH AND CASH EQUIVALENTS- eontinued FmplJ)jLe ￿.￿erit$ ,ISl Lifan) 141lU5ed holidai. eniiilemeni 15 recogni5ed in the period in ￿hleh the employee's seJwie¢s are re¢eivoJ. l-Lrmirtation ben¥liis arL' recognised immediaieli as an expense ii'hen ihe ChariTr is demon5trdbly committd io LerninaTr the emplovment of an emplovee or 10 provsde *mination bentfitS. CRITICAL ACCOUNTING ESTIMATES AN'D JUDGEMEhiTS In (he application of ihe ChoTiiN" s a¢¢ouniing poliries. the trusLee$ are wuired 10 make judgements. estim￿tS and sumptions aboui Ihe carrying amount of &sseis and liabiliiie5 (hai are not readil￿ apparent from other sources. The esiimdies and aS￿￿la1td as5umpiion5 are based hisiorical &i￿rIenCe and oiher factors Ihai are considered Lo be relei'ani. Aciual regJ115 may differ frorn these eslima￿s. The estimated and underli'ing assumpiions are re&1￿￿ed on an ongoing basis. Revision5 10 accouniing estimates are retognised in Ihe period in which the eslimae is re¥'ised ￿￿tTe the revisson affeits onl!. ihai ￿Tr(￿A. Or in the period of the revision Hnd fuEure periods i%'heTe the Tevision affctts ￿th Lurreni and future perid5. Fl Tr4fJ RAISIN(.' &. OI'H ER INCOME 31.12.24 Linr¢5tricted Fund 31.1?23 Unr¢5tric*d Fund Donation ?7.117 43.107 43.107 INVESTNIENT INCOME 31.12.24 31.12.23 Inierest receii-able 640 497 TRUSTE&SI REMUNEIi4TIOY AND BENEFITS Ti,:re ¥i't;'L iio IrL151¢es' remun¢Mion or other benefits for the kear ertded 31 Dec¢mber2024 nor for th¢ year ¢nded I I Ik'i.'Fnl)L'r ?O?_l. TRUSTEES, EXPENSES There were no mistee5' paid for ihe vear ended 31 December 20?4 oor foT the ended 31 De¢ember 2023. Page 10 YING CHI BUDDHIST IPLE NOTES TO THE FIN.4IYCI.4L TA TENIENTS- continued R THE YEAR ETr4'DED 31 DE ENIBER 2024 EMPLOYEES The average monthly numberof emploi'ees dllring the!,ear￿￿. 31.12.2024 31.1? ?023 Employee io. cOmPARAT￿Es FOR THE sr.4TEMEf4T OF FIPIAN'CIAL ACTIVITIES 31.12.2024 31.12.?023 Unrestriaed fund Unrestri¢ted fund INCOME AND ENDOWMENTS FROVA Fund Raising & Other Income ?7.757 43,604 EXPENDITURE ON Chariiable aciivities 33,? j8 0.708 NET INCOMEIIEXPENDITURE) t+4ET MI OVEMENT IN FUlqDS Page 11 YING CHI BITDDHIST TEMPLE YOTES TO THE FIN.4N'CI.4L STATEmE￿TS-COntinlled FOR THE ¥E.4R EN'DED 31 DEcE￿[BER 2024 TANCIBLE FIXED.4SSETS Freehold land aDd buildings Fixtures. Tot81 equipment COST At l January 2024 942.0(KY 250 942.250 At DecernbeT 2024 942.0￿) 250 942,250 Depreciation and impAirment At l Januarv 9024 Ikpreciaiion ¢harged in ihe jear 94.200 18.840 227 94.427 18.846 Al December 20?4 113.040 233 13.?73 NET BOOK ￿'ALUE At 311)ecemb¢r 2024 828.960 17 828,977 At 31 December ?023 847.8 23 847,823 12. ANALYSTS OF NET ASSETS BETWEEN FUliDS Unre￿rIc￿l fund 2024 Unrestricted fund 2023 Fund balaD¢es ¥ 31 Dttembtr 2024 are rtprtseDted by: Tangible a55ets Current ass¢tsllLiabiliiies) 8?8.977 134.753 847,823 121.408 963.730 969231 Pagel? VINC CHI BUDDHI T TEhlPLE NOTES TO THE FINAN IAL STATENIENTS- tontinued FOR THE YEAR ENDED 31 DECENIBER 2024 13. MOVEMENT IN FUNDS movemcni in funds A¢ 31.1?.24 Unrestrieted fund5 Generdl fund 969,231 15:iOI) 963.7iO TOTAL FUNDS 969.? j I Net movemeni in fund& ineluded in the a￿￿>ve are as follo￿￿= In¢oming resources Re5011rtes expended mO￿¢Ment in fiLnds Uttttstrirted funds Gencrdl fund 7.757 {33.?581 15,iOII TOTAL FUNDS 27.757 33.2)81 5,501) Compfir&tive5 for movement ID funds moiirnint in iunds UDrestricted fund5 G¢nernl fund 956.335 12.896 TOTAL FUNDS 956.335 12.896 969.231 Page13 YING HI BL'DDHlsTTE￿IPLE NOTES T THE FINAiKCIAL STATEIIENTS- tontinlled FOR THE YE.4R K￿DED 31 DECEhlBER 2024 13. MOI"EM£NT IN FUNDS- covtinved Comparative neL movemenL in fund& included in the atr￿ve ore 2$ follo￿.$- Tn¢oming Tesowtes Re50urce5 expendtsj Movemeni in fund5 L'nre%trirt¢d fund5 43.604 {30.7081 12,896 TOTAL FUNDS 43.604 30.7081 12.896 A curr¢nl year l? months and Jear 12 months tombined position is as folloiv5: Nei ￿0￿emen( in funds At 31.12.24 Ai 1.1.23 Unrestricted funds Genernl fund 9i6.33i 7.395 963.730 TOT.4L FUNDS 956."35 7.395 ..1 iurrLlli Tr"¢w" I ? TnoTiths and prior l'ear 12 months combined net mN'ement in funds. includ￿ in the above aTe as follow's.. Ineomin8 res(PllTCeS Resources expended Movement in funds Unre5trict¢d General fun 71.361 (63,9661 7,395 TOTAL FUTr4DS 71.361 63.9661 7,39) Page 14 YING CHI BUDDHIST TEI¥IPLE NOTES TO THE FlINANCI.4L ST.ITE%IENTS- tolllilllled FOR TH YEARENDED31 DECEIIBER 2024 14. FINANCIAL COMMITNIENTS GUARANTEES AND CONTINCENT LIABILITIES There were no financial comrnithienw guannTees 8tMI coniiThgeni liabilklie 15. RELATED PARTY DISCLOSURES There were no TelaTed party transactions forthe l'ear ended JI Decetnkr2024. Pageli YING CHI BUDDHIST TEMPLE DETAILED STATEMENT OF FINAICI.4L AcfiviTIES FOR THE YEAR £￿DED 31 DECENTBER 2024 31.12.24 31.12.23 IN'COME.IND ENDOII'MEliTS 27.117 43,107 27.117 43,107 In¥e$im¢nt ltttomt Inierest receivable 640 497 Totsl intoming Yesourtes 27.757 43.604 EXPENDITURE Chiritable a¢tivitie5 Religious a¢¢ivities ?.568 936 Support tosts Other 90 583 6.073 8il 3.94) 195 430 389 4.934 74) 3,629 Raies Sundries Repairs 2nd moinienance Bank ch3rgcs Legal and profe55ional fees D¢preci