##
##
||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|