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2021-12-31-accounts

AGM 2022-3.1E/C 17 September 2022

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(A company limited by guarantee)

Charity number 1107568 Company number 05285135

二零二 壹 年 財政報告表

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2021

OFFICIAL

CHINESE CHURCH IN LONDON

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

INDEX

Page
Report of the Trustees 1 – 12
Independent Auditors’ Report 13 - 15
Statement of Financial Activities 16
Balance Sheet 17
Statement of Cash Flows 18 -19
Notes to the Financial Statements 20 – 31

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CHINESE CHURCH IN LONDON REPORT OF THE TRUSTEES

The Board (the trustees and directors of the charitable company) presents the combined directors’ report and trustees’ annual report, as required by company law, together with the audited financial statements of Chinese Church in London for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 and comply with the charity’s trust deed, applicable law, relevant accounting standards including the requirements of the Statement of Recommended Practice, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), “Accounting and Reporting by Charities”.

1. REFERENCE AND ADMINISTRATIVE DETAILS

BOARD MEMBERS (DIRECTORS AND TRUSTEES)

The following held office as directors (trustees) from 1 January 2021 to 31 December 2021:

Chairman: Elder Peng Chiew Wong (Until 18 May 2021) Deacon Che Sheung Wong (from 19 May 2021) Company Secretary: Wing Tsee Alice Szeto Treasurer: Vincent Joo Keng Lim Other Board Members: Revd Teck Sin Lau Elder Oliver Hing Yee Tang Chun Fai Patric Mak (From 18 September 2021) SENIOR STAFF MEMBERS Senior Pastor (Acting): Elder Oliver Hing Yee Tang Pastor: Revd Teck Sin Lau BOARD MEETING ATTENDEES Director of Administration & Finance: Linda Lim (until 28 February 2022) Attendee: Chun Fai Patric Mak (from 17 March to 17 September 2021)

REGISTERED CHURCH ADDRESS:

69-71 Brook Green London W6 7BE

AUDITORS:

Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD

BANKERS:

Barclays Bank PLC Virgin Money Kingston 2 Jubilee House, Leicestershire LE87 2BB Gosforth, Newcastle Upon Tyne NE3 4PL

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2. STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Church is a charitable company limited by guarantee, incorporated on 12 November 2004 and registered as a charity on 11 January 2005. The company’s Articles of Association was updated in 2019 according to the Companies Act 2006 and the Charities Act 2011 with the help of the solicitors of Lawson Lewis Blakers Ltd.

The updated Articles of Association (2019) were approved by Church members by voting at the 2019 AGM on 21st September 2019, filed with Companies House on 9 October 2019 and registered with the Charity Commission.

In the event of the company being wound up members are required to contribute an amount not exceeding £1.

The Chinese Church in London Bye Laws (2012) have also been updated according to the Articles of Association of Chinese Church in London (2019), reflecting the current structure and practices of the Church. The updated Bye Laws were circulated to Church members for information and presented at the 2020 AGM on 26 September 2020.

Governing Body

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Board. The Board is the governing body of the Church. It has overall responsibility for strategy and decision-making, directing the affairs of the Church, and for the efficient running of its operations. The Board meets every 2 months.

The Board consists of the following spiritually matured leaders:

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The Board is supported by the following committees:

Trustee Appointment, Induction and Training

All new trustees of the Church shall be nominated by the existing Board and their appointments shall be approved by a General Meeting. All new trustees will be given information about the responsibilities of being a trustee when they first join the Board. New trustees are provided with

The Church has ongoing training programme for the Trustees to enhance governance skills.

Organisational Structure

The Church has 11 Sunday Services across 5 locations: Hammersmith, Soho, Colindale, Croydon and Hounslow. These services are run by 6 Congregation Councils. Each Congregation Council consists of a pastor and/or pastoral worker, Elders, Deacons, Congregation officers (Secretary, Treasurer, Carelinks Representative and Mission Representative) and heads of various departments. A Working Committee may be formed in each congregation to lead various departments and fellowships. Each congregation is given the responsibility to decide the best strategy and methodology to outreach, and to provide pastoral care, teaching and training to their members and worshippers.

The Administration and Finance Committee meets every 3 months. It consists of members who are competent in one or more of the following disciplines: finance, legal, human resources, information technology (IT), audio visual (AV), building management and communications. The committee is given the responsibility for supporting the Church ministries with the above functions. It also sets up policies to monitor and approve expenses for the Church.

The Carelinks Committee and the Mission Concern Team (MCT) are headed by the Carelinks Secretary and Mission Secretary respectively. Each team consists of

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representatives from various congregations and normally supported by a pastoral staff as an ex-officio. The Carelinks Committee helps the Church to focus on the social concerns in our society, initiates and recommends social projects and financial support. The MCT helps the Church to raise awareness of world mission, to send and support missionaries in different parts of the world.

The Church employed 19 full and 2 part time staff comprising the pastoral and administrative staff in 2021. The staff team is headed by the Senior Pastor and assisted by the Centre Pastors, Elders and the Director of Administration and Finance. In the absence of a Senior Pastor, the role is fulfilled by the Acting Senior Pastor (Church Elder), appointed by the Board and supported by other Church Elder(s). The Senior Pastor’s Office (SPO), which consists of pastor(s), the Director of Administration and Finance, and mature spiritual leaders appointed by the Senior Pastor or the Board, supports the Senior Pastor in ministry related matters and staff care. The pastoral staff support the wellbeing of various congregations by providing pastoral care, visitation, preaching, teaching and training to the members. The Director of Administration and Finance and the team are responsible for the day to day running of the Church Office, building management and provision of support to the ministries of the Church.

Risk Management

Being aware of their responsibilities for risk assessment, trustees periodically review the procedures for evaluating the risks associated with the Church’s operating activities, and also review annually all insurances (including office, fire and general safety), as well as the terms and conditions of employment of staff. The first version of the Risk Assessment Management Policy was produced and approved by the Church Board in January 2022. The intention is to develop a comprehensive risk assessment manual which will identify all the significant risks which the charity faces and the measures in place to mitigate these risks. Two of which are the impact of Brexit, and the Covid-19 pandemic in 2020/2021 which has been a major risk that the church needs to manage. As a charity, we are committed to maintain the level of services in our community but at the same time we monitor our expenditure and human resources in order to fulfil our vision and objectives.

3. PUBLIC BENEFIT

The Church provides a spiritual home to Christians close to home and from abroad. The Church preaches the Gospel of Jesus Christ and teaches the Doctrines of the Christian faith in three different languages but not exclusive to Chinese in and around London. Local communities can benefit from the Church activities such as the activities mentioned above and education conferences. The Church provides care, friendship and a community life to students, families and those who are in need.

The Board confirms that it has taken into account the Charity Commission’s general guidance on public benefit when reviewing the Church’s objectives and in particular considers how planned activities contribute to the achievement of these objectives.

The church has raised the awareness of our members in social justice by hosting a Justice Month in June 2022, and will continue to do so in coming year. Most of the short term mission (STM) has gradually re-started in 2022 following the relaxation of COVID restrictions.

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4. OBJECTIVES AND ACTIVITIES

The Chinese Church in London was founded as an unincorporated charity in 1951 by the late Pastor Stephen Y. T. Wang. Chinese Church in London, an incorporated charity presumed the activities and net assets of this unincorporated charity on 1 January 2011. The mission of the Church is to become an “Intentional Disciple-Making Church”. Therefore in 2017 we set our Church vision as: We exist to make disciples of Jesus to transform London and the world. The objects of the Church are:

In supporting the above objectives, the long term objectives of the Church are to:

In the short and medium term, the objectives of the Church are to:

In achieving these objectives, the Church encourages volunteers to serve, participate and lead in the various ministries including pastoral team, fellowship, worship, Bible studies, teaching and training, etc. They also provide leadership in committees such as the Board, Congregation Council, Working Committee, Administration & Finance, Carelinks, Mission Concern Team, and The Next Generation Ministry. Serving in the Church is part of Christian life and it is one of the ways to show our love for God. The volunteers are an essential force for the development of the Church’s ministries.

The Church offers grants from Theological Education Fund and Mission Fund to certain people or organisations to contribute to the success of our objectives. We have set procedures and policies to ensure grant receivers are committed to the work of Christ and in line with our objectives. Moreover, mentoring and/or prayer support are also given to these individuals or organisations.

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To support the activities organised during the year, the Church employs pastoral and administrative staff to provide care, outreach programme, community projects, conduct services and manage the Church's properties and finances. This year we have spent a total of £1,270,675 on staff, activities, maintenance and events.

5. ACHIEVEMENTS, PERFORMANCE AND HOW THE CHARITY HAS DELIVERED PUBLIC BENEFIT

The Church celebrated the 70th anniversary on 17 January 2021. The speaker of the Anniversary Thanksgiving Service, our ex-Senior Pastor Dr. Revd. David Lee, preached a powerful sermon entitled Brighter and Brighter that encouraged CCiL to become a praying church to take the gospel to the unreached. The 70[th] Anniversary Thanksgiving Service was marked by the ordination of our Church Youth Pastoral Worker, Oliver Knight as Church Pastor with the focus on The Next Generation Ministry. This was a joyous occasion as the Church has prepared Revd. Oliver Knight with a period of coaching by a team of experienced Pastors from inside and outside of CCiL and Church Elder. This was followed by the Ordination Committee interview and finally affirmed by the voting support of members in the AGM in 2020.

During most of the first half of 2021, the Church was closed to physical activities under lockdown. The Church Board has monitored the government guidance on Coronavirus and has recommended as appropriate stricter guidelines to the staff team, leaders and members. The Hammersmith English Congregation re-opened for service at the end of May, to be followed by other congregations in July 2021. Precautionary measures were imposed to limit attendance with registration, negative lateral flow tests, enforced social distancing and face-mask wearing to minimise the risks and protect the health and safety of the attendees and servers.

As we have restricted the capacity of attendance during 2021, it would be difficult to measure and record the number of online as well as physical attendees accurately. Also these figures were not comparable with similar figures before Covid. However, it would be prudent to report that the total number of online and physical attendance combined would exceed previous years due to the influx of BNO immigrants from Hong Kong.

In 2021, the Church held 3 Baptism Services, a total of 18 candidates were baptised. Also, continuing with the efforts to welcome the BNO immigrants from Hong Kong and other places, the church has organised workshops and seminars to provide information to prepare and plan for their move and to welcome them on arrival with practical advice and support. Besides connecting with these newcomers, the Church has also organised Street Cafés on different locations run by different congregations towards the end of the year. The Church made use of this facility to connect with the local community and it was well received as a way to pray for and bless the community.

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Mission Concern Term

Mission Fund

And my God will meet all your needs according to the riches of His glory in Christ Jesus. Philippians 4:19 NIV

Even we are still affected by Pandemics throughout in 2021, our God indeed the Way Maker for CCiL Mission Fund. We received £137K against Budget of £130K from our 7 congregations. £106K (77%) allocated to our 25 Missionaries and 5 Mission Organizations. Due to pandemic travel restrictions, we had to cancel many Short Term Missions in Tanzania, London Bridge, Lancaster and Croatia. Only STM Summer Night Outreach and Street Café Edinburgh took place, in July and August.

In October and November, a 7-weeks' Mission Series Sermons were organised by MCT. We have 3 keynote speakers in 3 languages. Cantonese speaker – Rev Lawrence Sin from COCM Milton Keynes, Mandarin speaker – Dr Winston Chiu from China Evangelical Seminary, Taiwan, English speaker – Dr Christopher Wright from Langham Partnership, London.

Mission Conference 2021 Theme – Mission @ our Doorstep

Lift up your eyes and look at the field, Living in a globalized society, From Vision to Action. Mission Weekend (25 – 28 November) with Mission Night on Friday for Prayer and Praise in three languages, City Hunt for kids and Street Café for adults at Soho, Croydon and Colindale.

Due to the changes of languages-based ministry, Monthly Mission Spot moved to Global news format. Each video update is covered with other languages sub-titles focusing on getting to know all our supported missionaries and each congregant to become their prayer warrior.

Dr Peter Chow Memorial Mission Education Fund

There were no applications in 2021 being processed but there will be support for Janice and Mads to study at All Nations Christian College when they finish their first term in Tanzania, Cheuk Chung when he finishes his term in Hong Kong, Simon when he starts his new term in Melbourne.

Carelinks ministry and Carelinks Fund

The Carelinks Ministry financially supported TearFund, CEDAR Fund, Christian Centre for Gambling Rehabilitation (CCGR), Chinese Association for Cancer Care (CACACA) and Tamar as part of its social concern activities.

In 2021, the church donated ￡ 39,969 to the above organisations (2020: ￡ 43,954) upon collection into the Carelinks Fund. A special appeal known as Recover together was conducted with TearFund to fund COVID vaccination in lower-income countries in April 2021 and £6,151 was raised.

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Our target in 2022 is ￡ 49,000. The more the Carelinks fund is blessed, the more we are able to bless those in great need. Other social projects undertaken included the Operation Christmas Child from Samaritan's Purse. This year’s highlight is the Justice month that has brought to the church family a variety of talks and activities on how we can fulfil our responsibilities as followers of Jesus Christ.

Pastor CK Cheung, David Chau (acting secretary) and the Carelinks team appreciate the support and donation from the church family. May we continue to act justly and to love mercy. He has shown you, O mortal, what is good. And what does the LORD require of you? To act justly and to love mercy and to walk humbly with your God. (Micah 6:8).

The Next Generation Ministry

The Next Generation (TNG) is the core ministry for primary school aged children (Kids Church) and secondary school aged youths (Youth Ministry) comprising of ministry groups attached to each congregation across the Chinese Church in London.

In 2021, weekly ministry activities largely continued to take place online. While our big calendar events such as Youth Easter Camp and Youth Short-Term Mission trips have either been cancelled or postponed again, we continued with our collaborative TNG Sunday service, Bible study groups, fellowships, and prayer time with parents via Zoom.

Our TNG Pastoral team took in feedback from leaders and youth and adapted the monthly format this year to include a two-week teaching session, a panel session, and a fellowship/games session. Our monthly series included themes like “When the Unexpected Hits,” “When the World Needs Your Attention,” “When You’re Questioning Faith,” “When You Feel Stuck,” and “When Relationships Get Complicated.”

With the gradual ease of government restrictions, our youth ministry has been able to hold a couple of our annual events in-person such as our end of year Youth Celebration Service, and our Sixth Formers Hiking Trip in the summer. Two of our CCiL centres (Colindale and Croydon) re-opened during the summer term, and other congregations’ re-opening dates followed in by September.

In 2021, we ran a successful recruitment process for a new children’s minister (Kids Church Pastoral Worker) to join us full-time in 2022. From September – December, our Pastor to The Next Generation, Rev. Ollie Knight, took a sabbatical with a focus on mental health training, and further theological studies in Christian spirituality and pastoral leadership. The ministry continued under the supervision of our youth minister (Youth Ministry Pastoral Worker) Hannah Chan, and we saw an increase in participants due to the influx of families and newcomers from Hong Kong settling in the UK.

We are thankful for the opportunity during this time to gather our ministry volunteers for training and to look ahead to the future of this exciting ministry. We continue to promote intergenerational discipleship as a key focus for the wider church to connect with the work of raising The Next Generation together.

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6. PLANS FOR FUTURE PERIODS

The Board has identified and endorsed the following 3 Priorities:

The Board has produced an ordination policy which has been used for the ordination of Pastor Oliver Knight. The Board is putting in place staff supervision and linemanagement to improve staff welfare and accountability.

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As a Charity we are also aware of the needs in our communities. In the coming year, we will work with community projects to provide support to people affected by the economic downturn, illness and losses, such as counselling services, social economic projects such as foodbanks, elderly fellowships, English classes and collaborating with para-church organisations to deliver the services.

We continue to have a Memorandum of Understanding with Chinese Overseas Christian Mission (COCM) for sharing of information and resources. During the coming year, a number of our staff members will be retiring. On the other hand, staff recruitment budget is increased in order to serve the growing church community, especially due to the influx of new immigrants from Hong Kong and other overseas students.

The church has begun the ordination process with our volunteer pastoral worker Dr. Pui Yin Ho in 2022, and will continue to plan for the ordination process for other suitable members of pastoral staff. Additionally, the church has started a church plant project in East London to provide pastoral care for the new immigrants from Hong Kong.

7. FINANCIAL REVIEW

There was no significant change in church operation and number of staff. The Church reports a net deficit of £48,300 for the financial year compared to the previous year’s £71,204 reported loss.

Donations and rental income are essential to assist the church to achieve its objectives. As a result of all charitable activities in current and previous years, the accumulated Unrestricted Fund reserve to-date is £890,133. On this balance, £25,226 is the net unrestricted income from the current financial year. The trustees have established a policy which aims to ensure that Unrestricted Funds are in a break-even situation each year. The reserves in the Unrestricted Fund will be used where necessary to fund any deficit arising in future operations. The trustees are comfortable with this level of Unrestricted Funds and are confident that this level of funding can be sustained in the foreseeable future.

Restricted Funds reserves is £5,270,767. In this reserve, £73,526 relates to net deficit of all restricted funds in the current financial year.

The board has reviewed the financial impact of Covid-19. Our analysis shows the church financial position is only slightly affected by Covid-19 and, therefore, no further measures are considered necessary.

The Church contributed to defined contribution pension schemes for all employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The Articles of Association empower the Board to invest cash which is not immediately required. We have decided to invest into a savings account and aim to generate interest income.

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8. STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also the Directors of Chinese Church in London) are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Company law and the law applicable to charities in England and Wales require 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:-

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Under Company Law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the result of the company for that period.

The Trustees confirm that, in the case of each of the persons who are Trustees at the date of this report, the following applies:-

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9. AUDITORS

A resolution to re-appoint Knox Cropper as auditors of Chinese Church in London will be put to members at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

Approved by the trustees and signed on their behalf by:

…………………………………………………………. Chairman Deacon Che Sheung Wong

14/08/2022 Date: ……………………

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CHINESE CHURCH IN LONDON

Opinion

We have audited the financial statements of Chinese Church in London (the ‘charitable company’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and 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).

Basis of 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, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and 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.

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Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 11, the Trustees (who are also the directors of the charitable company for the purposes 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the charitable company’s member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s member for our audit work, for this report or for the opinions we have formed.

Richard Billinghurst FCA Senior Statutory Auditor for and on behalf of Knox Cropper LLP Chartered Accountants and Registered Auditors 65 Leadenhall Street London. EC3A 2AD Date:

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) ㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二 壹 年十二月三十 日 財政報告表

NOTE
INCOME FROM收入
附注
Donations and Legacies
捐款及遺產
2
Other Trading Activities
租金和其他收入
3
Investments銀行利息
TOTAL INCOME總收入
EXPENDITURE ON支出
Raising Funds 籌款
Charitable Activities
直接支出
4
TOTAL EXPENDITURE總支出
NET INCOME/(EXPENDITURE) AND NET
MOVEMENT IN FUNDS FOR THE YEAR
年度淨收入
RECONCILIATION OF FUNDS:
Balance b/f at 1st January
2021承前期結算
Balance c/f at 31st
December 2021本年度結算		 Unrestricted
Funds
無限制基金
£
850,256
96,670
381
947,307
-
922,081
922,081
25,226
864,907
£890,133		 Restricted
Funds
限制基金
£
275,068
-
-
275,068
-
348,594
348,594
(73,526)
5,344,293
£5,270,767		 Total Funds
2021
基金合共
£
1,125,324
96,670
381
1,222,375
-
1,270,675
1,270,675
(48,300)
6,209,200
£6,160,900		 Total Funds
2020
基金合共
£
1,066,662
75,307
3,749		 Total Funds
2020
基金合共
£
1,066,662
75,307
3,749
1,145,718
-
1,216,922
1,216,922
(71,204)
6,280,404
£6,209,200

All activities reported above are continuing activities.

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

BALANCE SHEET 二零二壹年十二月三十㇐日 資產負債表

AS AT 31 DECEMBER 2021

Note
FIXED ASSETS固定資產
Tangible Fixed Assets有形資產
Land and buildings地產及物業
Building improvements建築物改善
Fixtures & Fittings固定建築裝設
Office Furniture and Equipment
辦公室傢俱及器材
14
CURRENT ASSETS流動資產
Debtors債務人
15
Cash at Bank and in Hand現金及存款
16
CREDITORS:Amounts
falling due within one year短期借貸人
17
NET CURRENT ASSETS流動資產淨值
TOTAL ASSETS LESS CURRENT LIABILITIES
流動資產減現存債項
TOTAL NET ASSETS資產淨值
FUNDS基金
Unrestricted無限制基金
Restricted限制基金
18
TOTAL FUNDS基金總數		 2021
£
£
3,078,531
1,854,480
15,720
3,117
4,951,848
129,053
1,266,549
1,395,602
(186,550)
1,209,052
6,160,900
£6,160,900
890,133
5,270,767
£6,160,900		 2020
£
£
3,134,242
1,921,999
19,075
825
5,076,141
77,263
1,395,223
1,472,486
(339,427)
1,133,059
6,209,200
£6,209,200
864,907
5,344,293
£6,209,200		 2020
£
£
3,134,242
1,921,999
19,075
825
5,076,141
77,263
1,395,223
1,472,486
(339,427)
1,133,059
6,209,200
£6,209,200
864,907
5,344,293
£6,209,200
5,076,141
1,133,059
1,395,602
(186,550)		 1,472,486
(339,427)
6,209,200
£6,209,200
864,907
5,344,293
£6,209,200

The Financial Statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The Financial Statements were approved by the Trustees on 14[th] August 2022.

Chairman (Deacon Che Sheung, Wong)

Church Treasurer (Vincent, Lim)

Company No. 05285135

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 STATEMENT OF CASH FLOWS 二零二壹年十二月三十㇐日 現金流量表 AS AT 31 DECEMBER 2021

2021
2020
£
£
£
£
NET CASH PROVIDED BY/(USED IN) OPERATING
ACTIVITIES
年度淨現金 提供/（用於）經營活動
(120,241)
67,240
CASH FLOWS FROM INVESTING ACTIVITIES
投資活動現金流
Investment Income投資收入
381
3,749
Purchase of Property, Plant & Equipment
購買物業，廠房及設備
(8,814)
(6,357)
NET CASH PROVIDED BY/(USED IN) INVESTING
ACTIVITIES
年度淨現金 提供/（用於）投資活動
(8,433)
(2,608)
CASH FLOWS FROM FINANCING ACTIVITIES
融資活動現金流
Repayments of Borrowing借款還款
-
-
NET CASH PROVIDED BY/(USED IN) FINANCING
ACTIVITIES
年度淨現金 提供/（用於）融資活動
-
-
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE YEAR
現金及現金等價物變動
(128,674)
64,632
CASH AND CASH EQUIVALENTS AT
BEGINNING OF YEAR
年初現金及現金等價物
1,395,223
1,330,591
CASH AND CASH EQUIVALENTS AT
END OF YEAR
年終現金及現金等價物
£1,266,549
£1,395,223
ANALYSIS OF CHANGES IN NET DEBT 淨債務變動分析
As at截至
01/01/2021
Cash flows
現金流
Loans converted to
donations
貸款轉換為捐款
As at截至
31/12/2021
Cash at bank 現金與存款
1,395,223
(128,674)
-
1,266,549
Building Fund Interest-free loans
建堂基金免息貸款
(232,000)
150,000
-
(82,000)
TOTAL
1,163,223
21,326
-
1,184,549		 2021
2020
£
£
£
£
NET CASH PROVIDED BY/(USED IN) OPERATING
ACTIVITIES
年度淨現金 提供/（用於）經營活動
(120,241)
67,240
CASH FLOWS FROM INVESTING ACTIVITIES
投資活動現金流
Investment Income投資收入
381
3,749
Purchase of Property, Plant & Equipment
購買物業，廠房及設備
(8,814)
(6,357)
NET CASH PROVIDED BY/(USED IN) INVESTING
ACTIVITIES
年度淨現金 提供/（用於）投資活動
(8,433)
(2,608)
CASH FLOWS FROM FINANCING ACTIVITIES
融資活動現金流
Repayments of Borrowing借款還款
-
-
NET CASH PROVIDED BY/(USED IN) FINANCING
ACTIVITIES
年度淨現金 提供/（用於）融資活動
-
-
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE YEAR
現金及現金等價物變動
(128,674)
64,632
CASH AND CASH EQUIVALENTS AT
BEGINNING OF YEAR
年初現金及現金等價物
1,395,223
1,330,591
CASH AND CASH EQUIVALENTS AT
END OF YEAR
年終現金及現金等價物
£1,266,549
£1,395,223
ANALYSIS OF CHANGES IN NET DEBT 淨債務變動分析
As at截至
01/01/2021
Cash flows
現金流
Loans converted to
donations
貸款轉換為捐款
As at截至
31/12/2021
Cash at bank 現金與存款
1,395,223
(128,674)
-
1,266,549
Building Fund Interest-free loans
建堂基金免息貸款
(232,000)
150,000
-
(82,000)
TOTAL
1,163,223
21,326
-
1,184,549
Cash at bank 現金與存款
Building Fund Interest-free loans
建堂基金免息貸款
TOTAL
1,163,223
21,326

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

㇐ STATEMENT OF CASH FLOWS (CONTINUED) 二零二壹年十二月三十 日 現金流量表 AS AT 31 DECEMBER 2021

RECONCILIATION OF NET INCOME/ (EXPENDITURE) TO NET CASH FLOW FROM OPERATIONS

Net income/(expenditure) for the year 年度淨收入/（支出）
Adjustments for:
Investment income投資收入
Depreciation折舊
(Increase)/Decrease in Debtors（增加）/減少債務人
Increase in Creditors增加/（減少）借貸人
Investment Income投資收入
Purchase of Property, Plant & Equipment購買物業，廠房及設備
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
現金及現金等價物變動		 2021
£
(48,300)
(381)
133,107
(51,790)
(152,877)
(120,241)
381
(8,814)
(128,677)		 2020
£
(71,204)
(3,749)
133,847
28,794
(20,448)
67,240
3,749
(6,357)
64,631

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財 政 報 告

1. ACCOUNTING POLICIES

(a) Basis of Accounting

These accounts have been prepared under the historical cost convention, in accordance with the Financial Reporting Standard 102, the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (FRS 102). The company is a public benefit entity.

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. As detailed in note 22, in forming this opinion, they have considered the impact of the Covid-19 pandemic on both its income and expenditure for at least a period of twelve months from the date of approval of these financial statements.

The presentational currency of the financial statements is Pound Sterling (£).

(b) Fixed Assets

Fixed assets are disclosed at cost net of depreciation to date. Assets transferred from the predecessor charity have been recorded at cost equivalent to their net book value in the predecessor charity at the date of transfer.

(c) Depreciation

Depreciation of fixed assets is calculated on cost at rates estimated to write off the assets, by equal instalments, over their expected working lives. Fixtures and fittings and office equipment are written off on a straight line basis over 5 years and 3 years respectively. Buildings and building improvements have been depreciated over the life of the property which has been estimated at 50 years. As a result of a review of the depreciation policy, the installed lift is being written off over its remaining useful life of 7 years. The cost of improvements at the United Reform Church are depreciated over 20 years. Depreciation charges on assets transferred from the predecessor charity continue to be applied on the basis of cost to the predecessor charity and the predecessor charity’s estimate of economic life.

(d) Income

All income is recognised in the Statement of Financial Activities once the charitable company has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations, covenants and legacies are credited to the accounts in the year in which they are receivable, grossed up for tax recoverable where appropriate.

Interest is credited to the accounts in the year in which it is receivable.

(e) Value Added Tax

The Charity is not registered for VAT and accordingly, where applicable, all costs and expenditure incurred are shown inclusive of VAT.

(f) Funds

Unrestricted funds are those funds, which can be used at the Trustees' discretion. Restricted Funds are funds whose purposes have been restricted by the donor.

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

NOTES TO THE FINANCIAL STATEMENTS(CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

1. ACCOUNTING POLICIES (CONTINUED)

(g) Expenditure

Charitable expenditure comprises direct expenditure attributable to the charitable objectives or activities and support costs. Where costs cannot be attributed, they have been apportioned to charitable objectives or activities according to the time or resources spent on each. Support costs are those functions that assist the work of the charitable company but do not directly undertake fundraising or charitable activities. Support costs include general overheads and governance costs (those costs incurred in the governance of the charitable company and its assets and are primarily associated with constitutional and statutory requirements).

(h) Grants

Grants payable are charged in the year when the offer is conveyed to the recipient.

(i) Pensions

The Charity contributes to defined contribution pension schemes and the pension charge represents the amount payable by the charity to the schemes in respect of the year.

(j) Key Judgements and Estimates

The classification of financial instruments, both assets and liabilities, as ‘basic’ or ‘other’ requires judgement as to whether all applicable conditions as basic are met. This includes the type of investment or loan and its return. The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently valued at their settlement value.

(ii) Useful life of functional properties

The remaining useful life of depreciable properties is reviewed by management at each reporting date and, if necessary, the depreciation charge adjusted accordingly.

(k) Short-term debtors and creditors

(l) Cash and Cash Equivalents

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

2. DONATIONS AND LEGACIES 捐款及遺產

Combined Services聯合崇拜
Cantonese粵語堂
Mandarin國語堂
English英文堂
New Soho蘇豪福音堂
Hounslow豪士羅堂
Croydon凱敦堂
Colindale甘霖堂
Office教會辦公室		 Unrestricted
Fund
無限制基金
£
-
141,311
78,862
89,844
229,200
22,455
91,104
108,678
88,802
£850,256		 Restricted
Fund
限制基金
£
-
52,719
15,509
16,413
105,621
8,726
50,270
15,032
10,778
£275,068		 2021
Total
合共
£
-
194,030
94,371
106,257
334,821
31,181
141,374
123,710
99,580
£1,125,324		 2020
Total
合共
£
-
152,779
107,223
116,117
326,182
19,416
145,207
70,408
129,330
£1,066,662

3. OTHER TRADING ACTIVITIES 租金及其他收入

Book sales書攤收入
Rental租金
Sundry Income雜項收入
Lunch ministry income 午餐事工收入
Education Conference Income教育營會收入		 2021
£
33
71,250
25,387
-
-
£96,670		 2020
£
549
50,786
23,972
-
-
£75,307

Note: Sundry income above includes £25,387 (2020: £19,446) of grant funding received as part of the Government Job Retention Scheme, which was introduced in response to Covid 19.

4. CHARITABLE EXPENDITURE

Pastoral教牧
Outreach佈道
Welfare福利
Building建堂
Total 合共		 Direct Costs
直接費用
(Note 6)
£
287,041
254,661
164,561
235,309		 Support Costs
扶助費用
2021 Total
2020 Total
(Note 7)
合共
合共
£
£
£
126,906
413,947
395,738
56,477
311,138
322,123
54,042
218,603
224,869
91,678
326,987
274,192
329,103
1,270,675
1,216,922
941,572

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

5(a). EMPLOYEE COSTS 同工開支

Salaries and wages薪金
Social Security社會保障金
Pension退休金
Total Head Office Salaries合共		 2021
£
594,587
57,639
29,473
£681,699		 2020
£
577,621
55,851
28,898
£662,370

The average number of employees during the year was 22 (2020: 20).

The Key management personnel of the Church are those persons having authority and responsibility for planning, directing and controlling the activities of the Church, directly or indirectly, including any trustee of the Church. In addition to the trustees, they comprise of the senior staff members detailed in the Administrative Details. No employee earned more than £60,000 during the year.

5(b). TRUSTEE’S REMUNERATION AND EXPENSES 信托人酬金及開支

During the year, one (2020: one) of the trustees received remuneration and expenses. However, these payments relate to their capacity as pastors or spiritual leaders, rather than as trustees of the Church. It is an accepted practice in religious organisations for the ministers to take an active role in the Church Council to guide the Church in its affairs.

Remuneration paid in the year:今年的薪酬支付
Pastor T S Lau劉德新牧師		 2021
£
41,208
£41,208		 2020
£
40,800
£40,800

One trustee was reimbursed a total of £503 (2020: one trustees £253) for ministry travelling and other cost.

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CHINESE CHURCH IN LONDON

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

6.DIRECT COSTS 直接費用
Staff Costs同工支出
Staff ancillary costs 同工其他支出
Congregational Costs 堂會支出
Licences and Subscriptions許可證和訂閱
TNG Ministry 下一代事工
Speakers Fees 講員費
Outreach 佈道
Home Missionaries 本地宣教士
Fellowship/Retreats 團契/退修
Other 其他
Carelinks愛心聯繫
Property Depreciation 物業折舊
Mission Costs 宣教事工
Mission Grants 宣教資助
Love Gift福利資助
Student Grants神學生資助
Combined Church Activities 教會活動
Premises 場地使用支出
Education Conference Fund expense
教育營會基金費用
Total合共
.SUPPORT COSTS扶助費用
Staff Costs 同工支出
Postage/Stationery/Bank charges
郵費及文具和銀行收費
Audit Fees核數費
Legal and Professional法律及專業費用
Depreciation折舊
Office Costs 辦公室費用
Total合共		 Pastoral
教牧
£		 Pastoral
教牧
£		 Pastoral
教牧
£		 Outreach
佈道
£		 Outreach
佈道
£		 Welfare
福利
£		 Welfare
福利
£		 Building
2021
2020
建堂
合共
合共
£
£
£
249,614 83,205 83,205 -
416,024
413,815
9,073 4,536 1,512 -
15,121
18,621
25,916 12,958 4,319 -
43,193
29,437
915 457 152 -
1,524
1,253
728 364 121 -
1,213
1,019
- - - -
-
667
- - - -
-
-
- 44,497 - -
44,497
44,363
660 330 110 -
1,100
440
135 68 23 -
226
267
- - 39,968 -
39,968
43,954
- - - 123,230
123,230
124,430
- 2,567 - -
2,567
5,796
- 105,679 - -
105,679
121,082
- - 5,950 -
5,950
19,606
- - 29,200 -
29,200
23,247
- - - -
-
-
- - - 112,080
112,080
58,659
- - - -
-
-
£287,041 £254,661 £164,560 £235,310
£941,572
£906,656
Pastoral
教 牧
£		 Outreach
佈 道
£		 Welfare
福 利
£		 Building
建 堂
£
94,912 47,456 47,456 75,849
265,673
248,556
7,305 3,653 1,218 0
12,176
12,392
405 405 405 405
1,620
6,480
798 266 266 1,330
2,660
102
4,938 988 988 2,963
9,877
9,417
18,548 3,710 3,710 11,129
37,097
33,319
£126,906 £56,478 £54,043

7. SUPPORT COSTS 扶助費用

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

8. TAXATION 稅務

Chinese Church in London is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Part 11 of the Corporation Tax Act 2011 to the extent that such income or gains is applied exclusively to charitable purposes.

9. CARELINKS DONATIONS 愛心聯繫捐款

Tamar (All Souls Church)他瑪事工
Christian Centre for Gambling Rehabilitation福音戒賭中心
Tear Fund淚基金
Cedar Fund施達基金
Chinese Association for Cancer Care英國華人關懷癌症協會
New Leaf Counselling Centre 新葉心理輔導中心
Carelinks expenses愛心聯繫支出		 2021
£
4,961
9,508
9,921
6,614
8,268
1,107
(410)
£39,969		 2020
£
-
14,690
10,073
9,234
5,876
2,581
1,500
£43,954

10. GRANTS FOR MISSION WORK 差傳資助金

The Charity made institutional grants to Christian organisations, to support mission work in the UK and overseas, as follows:

Overseas Missionary Fellowship 海外基督使團
Operation Mobilisation 信徒動員會
Jian Hua Foundation (Hong Kong) 建華基金會
Home of Loving Faithfulness (Hong Kong) 可愛忠實之家
Chinese Overseas Christian Mission 基督教華僑佈道會
WEC International 環球福音會
Christ Transcending Poverty Church 超窮教會
Pioneers
YWAM
Christmas Gift to missionaries 宣教士聖誕禮物
New Mission Organisation 新宣教機構		 2021
£
12,240
18,360
10,895
555
10,000
9,585
1,210
9,310
8,775
1,240
150
£82,320		 2020
£
10,868
17,420
10,236
684
9,996
11,736
1,368
10,568
7,920
368
-
£81,164

The Charity also made individual grants to 6 Christian professionals (2020: 6) working in China and Albania. In the current year, these totalled £17,930 (2020: £47,944).

11. STUDENT GRANTS 神學生資助金

The Charity gave student grants totalling £29,200 (2020: £23,247) to 4 individuals (2020: 3 individuals) in the UK to support them in their theological studies.

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

12. DONATIONS AND GRANTS 捐款和資助金

Other Donations (<£500) 2021
£
-
-		 2020
£
-
-

13. PENSION COMMITMENTS 退休金

The Charity contributed to a defined contribution pension scheme for several employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. At the balance sheet date unpaid contributions due to the fund were £zero (2020: £zero). Total premiums payable in the year were £29,473 (2020: £28,898).

14. TANGIBLE FIXED ASSETS 有形固定資產

Cost開銷:
At 1st January 2021
承前期開銷結算
Additions增添
At 31st December 2021
本年度開銷結算
Accumulated
Depreciation
At 1st January 2021
承前期開銷結算
Charge for Year
At 31st December 2021
本年度開銷結算
Net Book Value
帳面淨值:
At 31st December 2021
二壹年十二月三十㇐日
At 31st December 2020
二零年十二月三十㇐日		 Land &
Fixture &
Office Furniture
Buildings
Improvements
Fittings
and Equipment
Total
建築物
改善
固定建築裝設
辦公室傢俱及器材
合共
£
£
£
£
£
3,856,344
2,952,433
269,373
52,795
7,130,945
-
-
4,747
4,067
8,814
£3,856,344
£2,952,433
£274,120
£56,862
£7,139,759
722,102
1,030,434
250,298
51,970
2,054,804
55,711
67,519
8,102
1,775
133,107
£777,813
£1,097,953
£258,400
£53,745
£2,187,911
3,078,531
1,854,480
15,720
3,117
4,951,848
£3,134,242
£1,921,999
£19,075
£825
£5,076,141

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

15. DEBTORS 債務人

Prepayments and accrued income預先支付及應計收入
HM Revenue and Customs稅務局
Accounts receivable應收賬款
16.CASH AT BANK AND IN HAND 現金與存款
Current Accounts支票户口存款
Paypal Accounts户口存款
Deposit Accounts支票户口存款
Treasury Deposits 支票户口存款
Cash 現金		 2021
£
33,079
94,894
1,080
£129,053
2021
£
15,157
1,048
748,229
500,000
2,115
£1,266,549		 2020
£
43,525
33,240
498
£77,263
2020
£
19,030
-
873,325
500,000
2,868
£1,395,223

17. LIABILITIES : AMOUNTS FALLING DUE WITHIN ONE YEAR 債項 : 短期借貸人

Building fund interest free loans建堂/物業管理基金免息貸款*
Trade Creditors貿易借貸人
Accruals and Deferred Income預估及延期收入
HM Revenue and Customs稅務局
Carelinks support愛心聯繫應付款項**		 2021
£
82,000
23,708
64,571
(354)
16,625
£186,550		 2020
£
232,000
44,390
58,333
-
4,704
£339,427

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

18. RESTRICTED FUNDS 限制基金

The income funds of the Church include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:

----- Start of picture text -----
Balance Income Expenditure Balance c/f
b/f Received Paid 2021
承前期結算 收入 支出 本年度結算
£ £ £ £
Building Fund 建堂/物業管理基金 4,971,785 47,345 (165,230) 4,853,900
Mission Fund 差傳基金 97,081 137,081 (108,246) 125,916
Dr Peter Chow Memorial
Mission Education Fund
周照文醫生差傳教育基金 143,070 - - 143,070
Theological Education Fund
神學基金 55,780 18,038 (29,200) 44,618
Communion Fund 愛心奉獻 54,894 22,433 (5,950) 71,377
Carelinks Funds 愛心聯繫基金 22,327 50,171 (39,968) 32,530
Education and Conference
Fund 教育營會基金 - -
(644) (644)
5,344,293 275,068 (348,594) 5,270,767
Year ended 31 December 2020 Balance Income Expenditure Balance c/f
b/f Received Paid 2020
承前期結算 收入 支出 本年度結算
£ £ £ £
Building Fund 建堂 / 物業管理基金 5,047,954 48,261 (124,430) 4,971,785
Mission Fund 差傳基金 84,434 139,525 (126,878) 97,081
Dr Peter Chow Memorial
Mission Education Fund
周照文醫生差傳教育基金 143,070 - - 143,070
Theological Education Fund
神學基金 63,761 15,266 (23,247) 55,780
Communion Fund 愛心奉獻 56,194 18,306 (19,606) 54,894
Carelinks Funds 愛心聯繫基金 22,464 43,817 (43,954) 22,327
Education and Conference
Fund 教育營會基金 - -
(644) (644)
5,417,233 265,175 (338,115) 5,344,293
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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

18. RESTRICTED FUNDS 限制基金 (CONTINUED)

The purposes of the restricted funds are as follows:

Mission Fund - for support of Church’s missionaries and mission organisations, both locally and overseas; to fund any Church activities associated with the furtherance of the cause of Christ in mission field in the UK and abroad.

Dr Peter Chow Memorial Mission Education Fund - fund from Dr Peter Chow’s legacy for the training and education of mission educators and professionals.

Theological Education Fund - to fund scholarships for students pursuing theological studies with a view to full-time ministry; students are not expected to repay the Church, upon completion of their studies.

Communion Fund - to fund monetary gifts for any brothers and sisters in Christ who are in unexpected financial difficulties, in the UK and abroad.

Carelinks Funds - These comprise the proceeds of annual collections for Tear Fund and Cedar Fund, other Christian social organisations and other special appeals made wherever a need may arise.

Education Conference Fund - to restrict any surplus arise in education conferences or events. Any reserves would be used to support deficits of other education conferences.

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CHINESE CHURCH IN LONDON 倫敦中華基督教會 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS 基金資產凈值分析

Restricted Funds限制基金
Unrestricted Funds無限制基金		 Total 合共
Fixed Assets
Net Current Assets
Total 合共
2021
固定資產
流動資產淨值
2020
£
£
£
£
5,270,767
4,933,010
337,756
5,344,293
890,133
18,838
871,296
864,907
6,160,900
4,951,848
1,209,052
6,209,200

20. CONTINGENT LIABILITIES 債項預估

There were no contingent liabilities at the balance sheet date.

21. RELATED PARTY TRANSACTIONS

There were no related party transactions in the year, with the exception of those disclosed in note 5 (b) relating to trustees’ remuneration and expenses.

22. IMPACT OF Covid-19

The Trustees anticipate that the Covid-19 outbreak in February 2020 and the events leading to the lockdown of the City of London will have a long-term impact on the Charity’s incoming resources and resources expended in the coming years. They have considered the likely impact on its incoming resources and how the charity can react to that impact and are confident that it has sufficient reserves and enough flexibility to ensure that it can continue to exist for the foreseeable future. Since the beginning of lockdown, the charity has been promoting donation via its website. It has taken advantage of Job Retention Scheme to minimise staff cost. It should not have material impact on the charity’s balance sheet position.

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CHINESE CHURCH IN LONDON 倫敦中華基督教會

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

㇐ FOR THE YEAR ENDED 31 DECEMBER 2021 二零二壹年十二月三十 日 財政報告表

23. COMPARATIVE FIGURES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME FROM收入
Donations and Legacies
捐款及遺產
Other Trading Activities
租金和其他收入
Investments銀行利息
TOTAL INCOME總收入
EXPENDITURE ON支出
Raising Funds
Charitable Activities
直接支出
TOTAL EXPENDITURE總支出
NET INCOME/(EXPENDITURE) AND NET
MOVEMENT IN FUNDS FOR THE YEAR
年度淨收入
RECONCILIATION OF FUNDS:
Balance b/f at 1st January
2020承前期結算
Balance c/f at 31st
December 2020本年度結算		 Unrestricted
Funds
無限制基金
£
801,487
75,307
3,749
880,543		 Restricted
Funds
限制基金
£
265,175
-
-
265,175		 Total Funds
2020
基金合共
£
1,066,662
75,307
3,749		 Total Funds
2020
基金合共
£
1,066,662
75,307
3,749
1,145,718
-
878,807
878,807
1,736
863,171
£864,907		 -
1,216,922
1,216,922
(71,204)
6,280,404
£6,209,200