| FINANCIAL STATEMENTS |
|
|---|---|
| FOR | THE YEAR ENDED 31 DECEMBER 2022 |
| fetmfrIs%$'Ie IIILISSI | |
| IIX2022412Pl 31 H |
| INDEx 8@ | |||
|---|---|---|---|
| Page IR@ | |||
| Report ofthe Trustees | TICNS | 3 —23 | |
| Independent Auditors' |
Report I%6IBtkiliIS | 24- 29 | |
| Statement of Financial |
Activities | ITISRIIR | 30 |
| Balance Sheet %I%II% | 3i | ||
| Statement ofCash Flows TIISFiil* | 33-34 | ||
| Notes to the Financial | Statements | NSNCIItt~M | 35-48 |
| NOTE | Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|---|
| INCOME FROM | IS% | Funds | Funds | 2022 | 2021 |
| RRRESNKR | REBATER | EBS~ss | MM | ||
| E | |||||
| Donations and Legacies | |||||
| PiERR)ssEE | 1,055,723 | 245,850 | 1,301,573 | 1,125.324 | |
| Other Trading Activities | |||||
| ShhSIESIRIETA | 89,463 | 24,002 | 113,465 | 96,670 | |
| Investments RE]&)R |
825 | 825 | 381 | ||
| TOTAL INCOME sBERA, | 1,146,011 | 269,852 | 1,415.863 | 1,222,375 | |
| EXPENDITURE ON | |||||
| Raising Funds ERRE | |||||
| Charitable Activities |
|||||
| m88cS | 4 | 1,273,549 | 303,772 | 1,577,321 | 1,270,675 |
| TOTAL EXPENDITURE $%$ | 1,273,549 | 303,772 | 1,577,321 | 1,270,675 | |
| NET INCOME/(EXPENDITURE) | AND NET | ||||
| MOVEMENT IN FUNDS FOR THE YEAR |
|||||
| SFRÃIIRh, | (127,538) | (33,920) | (161,458) | (48,300) | |
| RECONCILIATION OF FUNDS: |
|||||
| Balance b/I at 1stJanuary | |||||
| 2022 @BEE(SEE | 890,133 | 5,270,767 | 6.160,900 | 6,209,200 | |
| Ealance c/I at 31st | |||||
| December 2022 TBSFITIMSE |
5762,595 | 55,236,847 | 55,999,442 | 56,160,900 |
| Note | 2022 | 2021 | |||
|---|---|---|---|---|---|
| FIXEDASSETS IBIIBBtiK | |||||
| Tangible Fixed Assets 55}BBtiR |
|||||
| Land and buildings tBIIEIRTBM |
3,022,819 | 3,078,531 | |||
| Building improvements TBBs@IE2@ Fixtures 8, Fittings iei~Bt |
1,782,119 10,311 |
1,854,480 15,720 |
|||
| Office Furniture and Equipment |
|||||
| B92'ETIBIITSSE8895 | 2,741 | 3,117 | |||
| 13 | 4,817,991 | 4,951,848 | |||
| CURRENT ASSETS F62B!IIIEE | |||||
| Debtors QSA | 14 | 103,583 | 129,053 | ||
| Cash at Bank and in Hand TBRSL@Bt | 15 | 1,220,774 | 1,266,549 | ||
| 1,324,357 | 1,395,602 | ||||
| CREDITORS: Amounts | |||||
| falling due within one year SERIINSRA | 16 | ~42.996 | 186,550 | ||
| NET CURRENT ASSETSItiiiltBiSWB | 1,181,451 | 1,209,052 | |||
| TOTAL ASSETS LESSCURRENT LIABILITIES | |||||
| ITEBESi%Ã8l0%4 | 5,999,442 | 6,160,900 | |||
| TOTAL NET ASSETStBEEWRI | 55,999,442 | 56,160,900 | |||
| FUNDS BL2B | |||||
| unrestdicted RRIIBBtJBI2B |
762,595 | 890,133 | |||
| Restricted IINltB1it TOTAL FUNDS BL~ |
17 | E | 5,236,847 5,999,442 |
5,270,767 56,160.900 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | 5 | |||||
| Net income/(expenditure) | forthe year fPI | F'EEA/ (EEL) | (161,458) | (48,300) | ||
| Adjustments for. |
||||||
| Investment income )j()REEA |
(825) | (381) | ||||
| Depreciation )ITS (Increase)/Decrease in Debtors ( i%It(I) / Increase in Creditors tBIIII / ( 7IE9) (88NA |
I~n(RTEA | 137,351 25,470 ~43.444 |
133,107 (51,790) ~182.877 |
|||
| (43,106) | (120,241I | |||||
| Investment Income )I(SEE((A |
825 | 381 | ||||
| Purchase of Property, Plant |
IL Equipment | IRF IE)I | II%)EE(EE | (3,493) | (8,814) | |
| CHANGE IN CASH AND CASH EQUIVALENTS |
IN THE YEAR | |||||
| BE6E)E%4%IEIIEERE | ||||||
| (45,775) | (128,674) |
| 2. DON |
ATIONS AND LEGACIES |
TPTNRIII | |||
|---|---|---|---|---|---|
| Unrestricted | Reslricted | 2022 | 2021 | ||
| Fund | Fund | Total | Total | ||
| SIRRIRIR | IRRIIBS | A.SL Cl |
ClFI | ||
| 8 | 8 | 8 | 5 | ||
| Combined | Services tBISIFS | ||||
| Cantonese iBSR | 198,367 | 51,041 | 249,409 | 194,030 | |
| Mandarin | Rfa4% | 112,335 | 27,785 | 140,120 | 94,371 |
| Truth and | Grace RTSLR | 117,287 | 13,487 | 130,774 | 106,257 |
| New SohoBsISIe | 279,623 | 87,023 | 366,646 | 334,821 | |
| Hounslow | erNRRIR | 25,739 | 7,473 | 33,212 | 31,181 |
| Croydon RiiL@ | 98,158 | 27,654 | 125,812 | 141,374 | |
| Colindale | HBRIR | 131,226 | 19,432 | 150,658 | 123,710 |
| Office RfRI'i'I | 92,988 | 11,955 | 104,942 | 99,580 | |
| Z 1,055,723 | 8 245,850 | 8 1,301,573 | 8 1,125,324 | ||
| 3. OTHER TRADING ACTIVITIES |
RLRTILESIthtEIA, |
| OTHER TRADING ACTIVITIES RLRTILESIthtEIA, | ||
|---|---|---|
| 2022 | 2021 | |
| Booksales ~IEfA | 760 | |
| Rental T@sR | 73,523 | 71,250 |
| Sundry Income j@TRIEQ, | 15,180 | 25,387 |
| Lunch ministry income+tRISTIRJL | ||
| Education Conference Income ITF~fEfA | 24,002 | |
| 2 113,465 | 896,670 |
| 4. | CHARITABLE | CHARITABLE | CHARITABLE | EXPENDITURE I(%%()( Direct Costs |
~SRC d | ||
|---|---|---|---|---|---|---|---|
| fRB1%)tt | RI1%% | 2022 Total | 2021 Total | ||||
| ~Note 6 | ~Note 7 | NSS | |||||
| 8 | 8 | ||||||
| Pastoral | NISR | 456,473 | 140,644 | 597,117 | 413,947 | ||
| Outreach | REIN | 338,418 | 66,251 | 404,669 | 311,138 | ||
| welfare | NISIJ | 165,591 | 63,253 | 228,844 | 218,603 | ||
| Building | Ilt | 237,407 | 109,284 | 346,691 | 326,987 | ||
| Total NSS | 5 1,197,889 | 8379,432 | 8 1,577,321 | 81,270,675 |
| a).EMPLOYEE COSTS HaZN% | ||
|---|---|---|
| 2022 | 2021 | |
| 8 | ||
| Salaries and wages RIIR | 790,439 | 594,587 |
| Social Security Ti@IIRPSR | 76,209 | 57,639 |
| Pension iR(BSR | 39,563 | 29,473 |
| Total Head Office Salaries ~ssSk | 8906,21 I | $681,699 |
| ECT COSTS jRIT | ( | RFJ | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ~Pst r R(fBf |
I | Outreach | Welfare IBN |
~Suildin IBm |
2022 N |
2021 N |
||||
| f | S | S | 8 | S | ||||||
| Staff Costs F]ZRm | 352,729 | 117,576 | 117,576 | 587,881 | 416,024 | |||||
| Staff ancillary costs | 18,906 | 9,453 | 3,151 | 31,510 | 15,121 | |||||
| WZRRBTTR | ||||||||||
| Congregational Cost |
mse5TBI | 81,412 | 40,706 | 13,569 | 135,687 | 43,193 | ||||
| gcences and Subscrlptlons | 1,299 | 217 | 2,166 | 1,524 | ||||||
| s | ||||||||||
| TNG Ministry F~Z | 849 | 424 | 141 | 1,414 | 1,213 | |||||
| Speakers FeesIRssgt | 560 | 281 | 94 | 935 | ||||||
| Outreach ffFRI |
1,650 | 1,650 | ||||||||
| Home Missionaries SF%! |
42,347 | 42,347 | 44,497 | |||||||
| Fellowship/Retreats IIBR/IR(iR |
88 | 14 | 145 | 1,100 | ||||||
| Other ST(t(t | 2,441 | 1,219 | 406 | 4,066 | 226 | |||||
| Carelinks mr0@% | 19,070 | 19,070 | 39,968 | |||||||
| Property Depreciatio | fttftstffm | 128,072 | 128,072 | 123,230 | ||||||
| Mission Costs re@%Z | 3,828 | 3,828 | 2,567 | |||||||
| Mission Grants | 121,146 | 121,146 | 105,679 | |||||||
| lave Gift Ims)mm "Student GranhItF~ |
9,531 (21,234) |
9,531 (21,234) |
5,950 29,200 |
|||||||
| Combined Church Activities |
(1,811) | (905) | (302) | (3,018) | ||||||
| PremisesWth%RI%1B | 109,335 | 109,335 | 112,080 | |||||||
| Education Conference | Fund | 23,358 | 23,358 | |||||||
| expense | ||||||||||
| Sff%%tlfSfktgttt | ||||||||||
| Total a% | K456,473 | 4338,418 | Fr 165,591 | 5237,407 | F1,197,889 | F941,572 |
| SUPPORT COSTS BI) | If@ | |||||
|---|---|---|---|---|---|---|
| Tgstgfgl RR |
Qllkeggh jRR |
S fgifsge R21 |
Rglisllgg TER |
2022 | ||
| s | s | B | s | s | s | |
| Staff Costs RZTTB' | 111,315 | 55,657 | 55,657 | 95,701 | 318,330 | 265,673 |
| Postage/Stationery/Bonk | 8,994 | 4,497 | 1,499 | 14,990 | 12,176 | |
| charges | ||||||
| RRTLTLRTBTRfTLTLR | ||||||
| Audit Fees RSTR | 2,475 | 2,475 | 2,475 | 2,475 | 9,900 | 1,620 |
| Legal ond Professional | 366 | 123 | 123 | 612 | 1,224 | 2,660 |
| RQRRSRIR | ||||||
| Deprectanon ÃR | 4,640 | 928 | 928 | 2,783 | 9,279 | 9,877 |
| afsce Costs ttt'i'RRRt | 12,854 | 2,571 | 2,571 | 7,713 | 25,709 | 37,097 |
| Total RSS | 2140,644 | 266,25 1 | 263,253 | 2109,284 | 6379,432 | 2329,103 |
| CARELINKS DONATIONS IIrthII%ÃEE | |||
|---|---|---|---|
| 2022 | 2021 | ||
| R | |||
| Tamer (Aft Souls Church) IBWiTB3: | 4,540 | 4,961 | |
| Christian Centre for Gambling Rehabilitation |
TESRTLREsprTI | 9,458 | 9,508 |
| Tear Fund SR%SR | 9,080 | 9,921 | |
| Cedar Fund )RILE | 4,540 | 6,614 | |
| Chinese Association for Cancer Care %IRRtAIIIRRERES | 8,323 | 8,268 | |
| Carelinks expenses IrTFTEtRI3dB |
117 | f410) | |
| New Leaf Counselling Centre %SRrDTRRhtBrtsrLI Unpaid donations written back RRNIBRBQQo |
1,837 ~18,828 |
1,107 | |
| 819,070 | 839,969 |
| The Chadiy made institutional grants to Chdstian organisations, t overseas, as follows: |
o support |
mission work in t |
he UK and |
|---|---|---|---|
| MTR~A2E%8!(Lsw)I(~)IR, I~%RII%%&l N:WCC('F, | TRIEUti) F: | ||
| 2022 | 2021 | ||
| 8 | |||
| Overseas Missionary Fellowship %9IR(fRIRIRI |
9,095 | 12,240 | |
| Operation Mobilisation I=IEEI1%% |
12,415 | 18,360 | |
| Jian Hua Foundation (Hong Kong) IR@$4 |
2,235 | 10,895 | |
| Home of Loving Faithfulness (Hong Kong) oJRlIRZR |
160 | 555 | |
| Chinese Overseas Christian Mission SRIfRffR(ffIR |
10,000 | 10,000 | |
| Church Mission Society RIR1%v4sLaMRI |
320 | ||
| WEC International fssRTTPsS |
9,595 | 9,585 | |
| Christ Transcending Poverty Church SSR4% |
320 | 1,210 | |
| Pioneers | 9,320 | 9,310 | |
| YWAM | 9,300 | 8,775 | |
| Global Connection | 500 | ||
| Christmas Giftto missionaries RRNREttaftf |
500 | ||
| Oxford Centre For Mission Studies | 1,390 | ||
| 763,760 | 582,320 |
| 3. TANGIBLE FIXEDASS | ETS%ILFIIRT | EFII | ||||
|---|---|---|---|---|---|---|
| Land 8, | Fixture | 8 | Office Furniture | |||
| Cost fIBB: | Buildings | Improvements | Fittings | and Equipment | Total | |
| ISI@ | IISBERBEES | EBri'TRBRI1LTLEBTRI | ||||
| E | E | |||||
| At 1stJanuary 2022 |
||||||
| IRfffIRIIWBEQTE | 3,856,344 | 2,952,433 | 274,120 | 56,862 | 7.139,759 | |
| Additions EsEB |
1,415 | 2 079 | 3494 | |||
| At 31stDecember 2022 | ||||||
| 2BRRRIR~ | R3,856,344 | R2,952,433 | R275,535 | R58,941 | R7,143,253 | |
| Accumulated | ||||||
| Depreciation | ||||||
| At 1stJanuary 2022 | ||||||
| tR fWIFrEBIIMBs | 777,813 | 1,097,953 | 258,400 | 53,745 | 2,187.911 | |
| Charge for Year | 55,71 1 | 72,361 | 6,824 | 2,455 | 137351 | |
| At 31stDecember 2022 | ||||||
| 2s%RBIIBBMS | F833,524 | F1,170,314 | 5265,224 | R56,200 | R2,325,262 | |
| Net BookValue | ||||||
| IBiEWIR: | ||||||
| At 31stDecember 2022 | ||||||
| ::fFt:FT:-t—H | 3,022,820 | 1,782, 1 19 | 10.311 | 2,741 | 4,817,991 | |
| At 31stDecember 2021 | ||||||
| :Off+:N:-t-H | R3,078,531 | R1,854,480 | Rl | 5,720 | R3,117 | R4,951,848 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| R | R | |||
| Prepayments | and accrued Income HBBRIBBUIBRteA | 34,204 | 33,079 | |
| HM Revenue | and Customs BIFBII | 68,299 | 94,894 | |
| Accounts receivable | L%IELIIBsR | 1,080 | 1,080 | |
| R 103,583 | 8 129,053 |
| . CASH AT BANK AND IN HAND ImREBOePL | ||
|---|---|---|
| 2022 | 2021 | |
| R | ||
| Current Accounts SEgi-rE3FFBE | 67,952 | 15,157 |
| Paypal Accounts I-'rClgg | 10,486 | 1,048 |
| Deposit Accounts SERI-rE39N | 641,426 | 748,229 |
| Treasury Deposits SESf-sL2Ov4 | 500,000 | 500,000 |
| Cash BLsk | 910 | 2, 1 15 |
| 4 1,220,774 | R 1,266,549 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| R | R | |||
| *Building | fund interest free | loans IIINIENIBETBBNrHMNR | 82,000 | 82,000 |
| Trade Creditors BIIIIrsTRA | 3,937 | 23,708 | ||
| Accruals | and Deferred income IIIBTRkiES!I7s | 29,841 | 64,571 | |
| HM Revenue and Customs | IIIFBIN | 18,022 | (354) | |
| Carelinks | support BRrDBIBEIFTBETB |
9,106 | 16,625 | |
| 8 142,906 | 8 186,550 |
| Balance | Income | Expenditure | Transfers | Balance c/f | ||||
|---|---|---|---|---|---|---|---|---|
| b/f | Received | Paid | In/ (out) | 2022 | ||||
| IRIS')INN' | IELh, | SEE | IIAI (EBS) | |||||
| 5 | 5 | 5 | ||||||
| Building Fund NN/EE%mmsR | 4,853,900 | 43,455 | (148,073) | 4,749,282 | ||||
| Mission Fund N(NEsR | 125,916 | '121 409 | (114,974) | 7,405 | 139,756 | |||
| Dr Peter Chow MemorIal | Mission | 143,070 | (10,000) | (7,405) | 125,665 | |||
| Education Fund |
||||||||
| F4FRSEEEIESSERNBEsR | ||||||||
| Theological Education |
Fund | 44,618 | 13,076 | 21,234 | 78,928 | |||
| %%BR | ||||||||
| Communion Fund NrDERIIR |
71,377 | 28,684 | (9,531) | 90,530 | ||||
| Carelinks Funds RrDISNNsR |
32,530 | 39,226 | (19,070) | 52,686 | ||||
| Education and Conference | Fund | (644) | 24,002 | (23,358) | ||||
| BR%BENR | ||||||||
| 55,270,767 | 5269,852 | Z(303,772) | 5- | X5,236,847 | ||||
| Year ended 31 December 2021 | Balance | Income | Expenditure | Balance c/f | ||||
| b/I | Received | Paid | 2021 | |||||
| @NNCBE | eA | 44NSS | ||||||
| 5 | 5 | |||||||
| Building Fund NTR/IBNNfRIEEB | 4,971,785 | 47,345 | I65,230 | 4,853900 | ||||
| Mission Fund %15IBR | 97,081 | 137,081 | I08,246 | 125,916 | ||||
| Dr Peter Chow Memorial | Mission | |||||||
| Education Fund |
||||||||
| EEsn3E REM(E)EERIER | 143,070 | 143,070 | ||||||
| Theological Education |
Fund | |||||||
| Ttr~snIE)R | 55,780 | 18,038 | 29,200 | 44,618 | ||||
| Communion Fund EEib@EI |
54,894 | 22,433 | 5,950 | 71,377 | ||||
| Carelinks Funds EErDIB%IBS |
22,327 | 50,171 | 39,968 | 32.530 | ||||
| Education and Conference | Fund | |||||||
| 52%NNR | 644 | 644 | ||||||
| 5,344,293 | 275,068 | 348,594 | 5,270,767 |
| TotalN | Fixed Assets | Net Current Assets | TotalW | ||
|---|---|---|---|---|---|
| 2022 | RilRRiS | PiiSKh3tIR | 2021 | ||
| 5 | 5 | ||||
| Restricted | Funds RRBt%9R | 5,236,847 | 4,749482 | 487,565 | 5,270,767 |
| unrestricted | Funds ttRRLBI@5R | 762,595 | 68,709 | 693,886 | 890.133 |
| 5,999,442 | 4,817,991 | 1,181,451 | 6.160.900 |
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| INCOME FROM | Funds | Funds | 2021 | |
| BRERBI)RE@ | lSBI)RSR | 52LssBE | ||
| Donations and Legacies | ||||
| EBNk)REE | 850,256 | 275,068 | 1.125,324 | |
| Other Trading Activities | ||||
| Shh@IEEIEeJL | 96,670 | 96,670 | ||
| Investments REGNI)R |
381 | 381 | ||
| TOTAL INCOME%eh, | 947,307 | 275,068 | 1,222,375 | |
| EXPENDITURE ON | ||||
| Raising Funds | ||||
| Charitable Activities |
||||
| EETR%$ | 922,081 | 348,594 | 1,270,675 | |
| TOTAL EXPENDITURE RESET | 922,081 | 348,594 | 1,270,675 | |
| NET INCOME/(EXPENDITURE) | AND NET | |||
| MOVEMENT IN FUNDS FOR THE YEAR |
||||
| ERRWGA | 25,226 | i73,526) | (45,300) | |
| RECONCILIATION OF FUNDS: |
||||
| Balance b/I at 1stJanuary | ||||
| 2021 FRiBIIEISS | 864,907 | 5,344,293 | 6,209,200 | |
| Balance c/I at 31st | ||||
| December 2021 45FlRSBE | 5890,133 | 55,270,767 | 56,160,900 |