Chinese Church in London {A company limtted by guarantee) Charlty numberMMN Company number 05285135 1107568 REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 CHINESE CHURCH IN LONDON FINANCIAL STATEMEMTS THE YEAR ENDED 31 DECEMBER 2023 2023 12 31 INDEX Pago Jllt ReF)Ort of the Trustees Independent Auditors, Report11]Y¥trM- 21-26 Statemenl of Financial Acliwtses RlaÉ•b* 27 Balance Sheet ASAffl* 28-29 Statemnt of Cash FIM 30-31 Noles to the Financial Statements 32-44 CHINESE CHURCH IN LONDON REPORT OF THE TRUSTEES Th8 Board (the truste88 and direths ol the charitable company) w8sents the combined direclor6' report and Iru$lees' annu81 report, 8s required by comp8ny18W. together Nwlh the audited financial statements of Chinese Church in London for the year ended 31 Deceffthr 2023. The financlal statements have been prepared in accordance with the accounting poI￿leS set out in Note 1 and comply with the charws trust deed. applicable law, relevant accounlSng standards Includlng the requirements of the Statement of Recommended Practice, Fin8ncial Reporting Standard applUb￿ in the UK and Republic of Ireland IFRS 102), "Accounting and ReFQrting by Charitses". ¥) ';£Iy¥>, 2023 * 12 A 31 LA y¥AIJ, (FRS102} [KW4ÈI•*FIW.J a¢M*. AgRIIIM-¥AJI 1. REFERENCE AND ADMINISTRATIVE DETAILS ••XHlll7a*• BOARD MEMBERS DIRECTORS AND TRUSTEES The folljwing held office as directors {Iruslees} from 1 January 2023 to 31 December 2023.. LJFAAe2023* 1 R 1 ￿￿2023¥ 12R 31 (￿1 . Chalrman U: Company Secretary Treasurer Deacon Che s￿Ung Wor¥J A*ttJ44W Chun Fai Patric Mak Yufan Chen Other Board lknbor• MYaw•AA: Ekler Oliver Hing Yee TaNJ Revd Joseph Yuk Yan Siu SENIOR STAFF MEMBERS S•nlor Pastor IActlngl: EkJer Oliver Hwig Yee Tar¥J Revd Pul Yin Ho11.hfW E*gffj (IW) . Non-EIKted B rd 4FXU K￿ran Bik Nga Kwok REGISTERED CHURCH ADDRESS 6￿718￿ Green L￿K5)n W6 7BE AUDITORS Knox crOp￿r LLP 65 Leadenhall Street London EC3A 2AD BANKERS •ts: Barclays Bank PLC Kingston 2 Le￿stersh1re LE87 2BB Virgin Money Jubilee House. Gosforth Newcas￿ up￿ Tyne NE3 4PL STRUCTURE, GOVERNANCE AND MANAGEMENT1111. itilllHPI Governln Document" The Church is a charitable company limited by gu8r8ntee. incOrp￿ted on 12 November 2004 and regSstered as a charity on 11 January 2005. The company's ArtiC￿S of Associalton was updated in 2019 according to the Companies Act 2006 and tm Charities kt 2011 ￿1th the help ofthe 601icitor6 of Lawson Lews Blakers Ltd. A*F*#Wm£'44. 2004* 11 ￿ 12 E. W: 2CM)5* 1 ￿ 11 I4￿".*> IQ . e Lawson Lewis Blakers Ltd. *iatJMWJF. W= 2019 *IW (2006 */K The updated Artic￿8 of Association12019) were approved by Church members by voting at the 2019 AGM on 21 st September 2019, filed ¥￿th Companles House on 9 October 2019 and registered with the Charty Commission. ¢ 2019* 10 R 9 aE'4'lltfi In the event of the company being V￿Und up memlxrs are requ￿ed to contribute an a￿K)Unt not exceeding £1. The Chinese Church in London Bye Lav46 {2012) have alw been updated according lo the Articles of Association of Chinese Church in London 120191, reflecting the structure and practices of the Church. The upjaled Bye Law8 were circulaled lo Church members for informalion and presented at the 2020 AGM on 26 September 2020. {*YA*•*alA2￿) 120121 {2019IM. LA&*$ 2020 * 9 R 28 2020 * Governin The directors of the company are also charity trustees for the Pufposes of charity k7w and under the Company's Articles are known as members of the Board. The Board is the goveming of Ihe Church. 11 has overall responsibillty for strategy and deckSh?n-making. dir￿lIng the affairs of the Church, and for the efftienl njnning ol its OFeratiorts. The Board meets every 2 months. The Board consists of the lolkn¥ing spiritualy malv￿d leaders.. ••tsLJFX-. Elected Pastor Boerd ff*mbers . o Sènioi P88tor IEx-Ofkio) IXM&A) Paslorlsl * Elected officers- o Secretary IEx.Officio) l*•(WXF, Collndal8 tts 2023 ¥9 6 The Adminigtration and Finance Committee meets every 3 months. It ¢C￿sIsts of members vèho are competent in one or more of the follovring disciplines.. finance. legal, human resources, Information technology {ITI, aud￿ wsual IAV). buikllng management and Con￿UniCat￿M$. The committ88 is glven the responsitrylty for suppcrting the Church ministries With the above functions. It also 8ets up policies to monitor and approve exFenses fty the Church. I. AYJAfa. pmiTh (IT) . (AV) . The Carellnk$ Convnittee and th8 mi8sKJn Cc￿Cern Team IMCTI are headed by the CarelSnks Secretary and Mission Secretary respectivety. Each leam consists of representatives from variou8 congregations and is rK)mialty Supported by a pastoral staff as an ex-officio. The Ca￿lInkS Committee helps the Churth focu$ on sccial Goncems. intiiales and recommends sockql projects, and determIr￿S the level of financ￿1 support for supported organriations. The MCT helps the Church raise awareness of world ffissk)n. Send. and support ftNssionaries in different parts of the world. As of the end of 2023, the Church empk)yed 24 full time. 6 part sL3ff corrprising 21 pastoral and 9 administrative staff. The staff team is headed by the SenK)r Pastor and assisled by olher Pastors. Elders and the Head of OFerations and the Head of Finance. In the absence of a Senior P8Stor, the ro￿ is fulfilled by the ActiThJ Senicrf Past￿ {in the case of 2022. a Church Elder). appointed by the Board and supported by olher Church Elderfs). SenKryr Pastc¢s off￿ ISPOI, which consists of pastor{sl and mature spiritual leaders appointed by the Senior Pastor or the Board, SUFPOrts the Sen￿r Pastor, tc¥Jether with the staff team, in mintstry-relaled matters and staff care. The pastoral staff support the wellbeing of the congregat￿n$ by providing pastoral care, visitation. preaching, teaching and training lo the mernbers and atterKlees. The Di￿¢tOr of Operations and the Director of Finance, and the administration and finance teams are responsib￿ for the day-tc day running of the Church Office. for buik4ing rnanage￿￿nl arKI SUPFQrting the ministries of the Church. 2023 *ik, 24 6 8HAI. 21 YA*AA. 9 fytyAA. fj ¥*Eti¥tUÈE*kT Its 2022 *WRF, PA17I- •&t*￿tI•. ISPO) Rlsk Mana ement Belng aware of their resF￿n￿bIlltl88 for ri8k assessment, trustees periodicalty review the procedures for evaluating the risks associaled wlth the Church's operaliThJ aclivrti85, review annualty all Insurances (including office. fire and general safety), as V￿11 as the lemis and conditions of the èmployment of staff. A comprehensive review of the Rtsk Management pollcy and praclke was conducted and approved by the Church Board in January 2022. The intention is lo develop 8 comprehensive risk assessment manual whth will Klentify all the slgnrficanl risks whlch the charty faces 8nd the measures in fv to mith3ate these ri¥k$. As a chanty, we are commrtted to maintain the level of serv￿e5 in our ¢ommunty tjut al the Sa￿ tiff* Th)nitor eXper￿rtUre and human resources in order to fuifd the Church's wsion and objeclNes. ¥Fts*fi8, PUBLIC BENEFITS The Church provides a spiritual home to Christians in Lon￿n. from other parts oflhe U.K, and from 8bro8d. The Church preaches the Gospel of Jesus Christ and teaches the ttclrines of the Christian f8ilh in three different languages, ttrthigh not exclusively to the Chinese in and around London. Local communities can L￿efit from the Chvr¢h'$ activities, such as the activities nEntioned above, as well as education conferences and efforts social concems. The Church 81$0 prcMd85 care, fr￿ndShiP and community Itves to students. familie$ and those ¥*tho ar8 in need. The Board confirms that it hag taken into ￿CoUnt the Ch8rty Commi83K)n'8 gener81 guid8nce on public benefit %then revi8wing the Church's obiectNes and has considered how the planned actrvities ¢ontrfbLrte lo the achievement of these obpctives. OBJECTIVES AND ACTIVITIE8 The Chinese Church in London vms fourKled as an unincorwrated charity in 1951 ty the late Pastor Stephen Y. T. Wang. Chinese Church in London, an in¢orpor8led charity presu￿￿ Ihe activiti8S and net as8el8 of this unincoTporated charity on 1 January 2011. The mISs￿n of th8 Church 18 to become an "Inlenlional Disciple-making Church-. Therefore Sin￿ 2017 we 8et our Church vlsion as.. 'We exist lo make disciple8 of Jesus to Iranslom London 8fKI the world.. The object5 of the Church are as follows.. 1951 2011 * 1 ￿ 1 B, . ￿itt, È 2017 *&. $AthISIF&9PYlt, J . YA•È¥QI5￿F. to preach the G¢)spel of Jesus Christ and to teach the Doctsines of the Christian Farth as sel forth in the Hoty Scriptures, primarily but not exclusivety, lo the Chinese in and around London,. i@Tw) n 11. to provide spkrn f￿ld V*DTldwide: 10 to provide facilities for the use of the Chinese arKI English langu•Jes In V￿rshIp ar￿ in the work of Ihe Church.. vi. to promote the wEWare primarity though not exclusively of Chinese in and around London, reco3nizing that the GosFoI of Jesus Chrlsl ministets to the whole person. In supporting the above objectP4es, Ihe longer-lern objective8 of the Church are as follows: lo build up the believers in faith and send them out to serve the k)cal communltles and others at home and abroa.. pJ)wJXItsA, to equip the believers $0 they would muliipty by nwkiw disciples ofJesus vknerever they may to adopt the f¢XUS of d5scip￿s making in all congregatK)n$. In Ihe short tenn. the oblectk¥e8 of the Church we 8$ folbthB: to increase wular Sunday ￿￿shIpperS to 2,CM)O including 8dulls and children,. IÈts&UfQ5aXI J#JJogJ 2,000 A; to increase the number of believers b￿.n9 baptised in the Church to 150,. IG¥A•**£AtyfatÈAwts]¥J 150 A: to plant churches in Kingston and Brom￿. Kingston IQ BrOrn￿ ￿11￿1# In achieving these obiectNe8. the Church encourages volunteers to serve. participate and lead in the vanous mSnlslries including felkAYship. worship. Bible studies. teaching and to support the activities organised. training. elc. They also provide le&J8rship in committees such as the Board, Congregation Councils. Working Commrttees, in the a￿a$ of Adminislratw)n & Finance, Carelinks, Mission Concem Team, The Next Generalion Ministry as well as being volunteers in the pastoral team. Serving in the Church is part of Christian lrfe and is one of the ways lo demonstr8te our love for God. The volunteers are 955enlK?l and are integral to the development of the Church's mlnlslrfes. , VA¥J¥è]A•14J •. . Jt, The Church offers grants from the Thedogical Educalion Fund and the Mission Fund to certain individuals or ￿ganiSatIOnS to contribute lo the $￿CeSS of our objectives. We have set pr¢xedures and poli¢ie$ to ensure that grant fecewers are committed to the of Christ and in line wrth the Church objectNes. Moreover. rnentoring andlor tTryer SUPF¥Xt are also given to these individuals or organisations. t￿*￿￿￿)j&)A*YjfxVJI1f. JtsF. Wjtga The Church employs fulk and part-time pasloral and administratrve staff to provide care, to outreach, to serve in communty project3, to conduct 8eNices and m8n8ge the Church's properties and finances. This yearwe have spent a total of £1.804.158 on staff. activit￿5, maintenance and events. **, wsi£AI. 1,804,158 ACHIEVEMENT8, PERFORMANCE AND HOW THE CHARITY HA8 DELIVERED PUBLIC BENEFITS In 2023, the Church hehj 5 Baptism Ser¥ices, and a total of 92 candidates were bapb'sed. Thls irKludes a couple of baplisnkq ￿rried out in hospital or at hTh due to special circumstances. 8esKles connecting with neYKomers. the Church has also organised Street Cafés and varlous evangelistic activities and events al different lOCat￿anS Ihrowhout tha year and some neighbours began lo attend church acbvitie$ and services. In 2023, over 300 guesls have participated in the pha sessions. Oul of atout 150 non-believefs, some 33 of them have since come lo faith. We continued to cooperate and support I￿al and internat￿nal evangelistic organisations In furthering our oblecllves and benefrts In additw. the Church suppt)rted 24 mlssKJnaries in 2023, and organised several Short-Term Mission (STM) lo varh)us places including: Thalland, Croatl8, Roman18, Tanzanio, Twlouse and a few kxal M￿$50n8 in London, Edinburgh and arK>ther part of the country. t 2023 *, #•¥tT7 5 92 #IX*•QY%IJJwA* 2023 *, 4 300 $IThX*M7& (Alpha Course). 1£ J 150 £4prtt*, * 33 tt¥IW7È. WJ***II IR*klY￿&p. 2023 **1è7 24 tt#YA*, ISTMI gJIE 12 Ml8$ion Concern Team Mllwj Mbssion Fund In 2023 we received £150k f¢X Mission FuThg lagainst budgeted £142K). of which £114k was allocated to our 24 Missionaries and 7 MiSs￿n Organvzations. GO-2023 we have 11 Short Temi Mission available for cororegations to pin localty in UK ￿ in Europe, Asia. South America. and Africa. We have the highest record of participanls {66 adu￿5 and 2 childron) who are coffing out of their comfort zone and lo se￿e alongsTrde wrth our supported mis$ionarie$. 2023 15 14 ), X* 11.4 XmJ'JE*7%ITJkty 24 A*ll 7 I￿￿ty8￿. GO.2023 11 In November, MCT organised a 4v￿ekS Mission Sermon ser￿ and ended with the Mission Weekend on 24 10 26 November. 'Subversive MISS￿n.. Discov8r a New Way lo do Miss*)ns" was the MissSon Conference's theme. For the second week Raymond KWc￿9 and Pete Dawson from Tearfund was our Cantonese and English keynote speake￿. For the final week Dr Tom Hatvey from Oxford Centre Mission Studies byas this yearfs keynole speaker for English and Mandarin and Cheuk Chung Lau from Operation Mobili$ation for Canlon8se. We had 11 dlfferent missionary speakers for the four v￿e#S shafing the pulpit me$wes (C8nlonese - 6. Mandarfn - 4, English - 4). 11 R MCTW7aAg 4iWJlty%>lJMil. tr 11 R 24 26 %￿RZ* Tearfund &J RayrrKJnd Kwong ftl Pete Dawson allm•151WaA. UtFiq, Tom H8rvey to*%**oyx1oeiA￿￿IXA, OIA IW4, Y%4, *4) . Frlday Nighl's theme was"Hearts ￿ Fire. Feet ￿ the rrw)ve° ... four Short Temi Misslon teams shared their expeiiences and IhTee missionaries on Home Assignment sharing. Saturday MiSs￿n afterni)on theme was Yhe 21s1 Century-" A Gaffe charvJerf Era for World Mission.. We had five workshops ran by various Mission Organ￿￿on5. 'Mercy Ship - Save lives amongst forgotten poor in Afr￿8. 'OMF- Whal's calling? Detrwjnking rrryths and finding freedom" Teach Beyond - Excellenl education, no matter the circumstances", Pioneers- Business as Mission '. WEC-"Digital Mission Relhink.. There h￿re also 9 MissK)n organizat￿n5 haviNJ bwth slands al the PSW Hall to prowde interactive infcffllatlon to all part￿1panIS from P￿neers, Te￿h Beyond, Mercy Ships. OMF, WEC, OM, Jian Hua Foundation. COCM and London Clty Mission. 13 IOMF . fTeach Beyond-IKttOTr, *llf]J , . tWEC . itt*, , n*ÈM. Teach Beyond. CK. OMF. WEC. OM. X•X*•, X *W6i#• COCM Global Monlhty Mission Spots Cry￿nued in 2023 vlith MCT n￿S on Short Tem MissK)ns, Education workshopslevenls, misS￿narIes. nevfi. and prayer vldeos, which were all prCdu￿d with the ￿1P from external freela￿ video editor. 2023*. MCT VAwIfFJts**. XVAtnilli Dr Petsr Chow Memorfal Mlsslon Edvcatlon Fund In 2023 sw)ported £3k for Sirnn & J￿et Edgecombe in their studies in Melboume School of Theolc*ay (total of £10k for the wl-tiff* ￿u(Se) to fini6h the course in 2024. 2023 *, Sirnon Itl Jar*t Edgecoffth (4F *JJxtI>P-W) , LA(IE 2024 Carellnks mlnhtry and Car•llnk8 Fund The Carelinks MinSslry financlalty supwted TearFund, CEDAR Fund, Chrisliw) Centra forGambling Rehabilitation ICCGRI, Chinese Asxci81ion for Cancer Care ICACACA) and Tamar as part of its social concern activit￿8. In 2023. the church donated £43,6111o the atove organIsat￿nS (2022.. £ 35,941) upon collection into the Carelinks Fund. Our target in 2024 is £ 50,000. The ￿re the Carelinks fund is blessed. the Tr)re we are able to bless th¢)se In great need. ILI IAWJAJÈ(fearFundl. IEIIÈ•. {CCGRI. • {CACACAI IQ TamarfFaffj*lt•lltrElbH. 2023 *. 7 43,611 (2022 4: 35,941 X) . 2024 50,000 ￿. ¥É Carelinks also support New Leaf Counselling Serrfice arKI Ihe Operation Christmas Child from Samarrt8n's Purse. This year's highlwht is Ihe Carelinks Sunday Icok place in May that we have had representatives of partner ￿an1&￿10n to preach. The Carelinks team appreciate the support and donation from the church famity. May we continue lo ￿t justty and lo love mercy. He has shown you, O rn￿81, what is gcx)d. ArKI whal does the LORD requiR of you? To act just a￿1 to love mefcy and lowalk humbty wrth your God {Mtsh 6.'81. ILIllX3Q*l*XIM, Im•JgSAttfJ{Samaritsn' s Purse)AIXRRVITSb. *WJ J . M7%￿rFttl¥tltlHAQxill. *mi*rJiT. 6.8 (11 6".8) 14 Th• Next Generation Ministy T-tt•I The Nexl Generation ITNG) is the core ministry for prinwry-school-aged children (Kids Church) and secondary-school•Jed y￿$ (Youth Ministy} comp￿Ir￿￿ of ministy groups attached to e congregation across the Chinese Church in Lonth)n. Fqt¥l ITNGI (5& ) a*,L The ministry year fcAlCy￿S the ac&lerric year and therefore began with the Autumn Term in September 2022. In January 2023. Ihe Spring Tenn commenced. and the youth groups across TNG Ministry collatoraled wilh video te￿hIng prepared by the youth leaders, with a series on 'Bold B81iever5' and a series called 'REAL-atKJnships', overseen by our pastoral interns Haynam Sham and John Ho. We held our annual Youth Easter Camp in April 2023. attended by 110 young peop and le8ders, on the theme of'Lrfe lo the Full,. In the Sumw*r Term, Ihe youth groups continued to collaborate with a serK88 called 'Holy Habits. kokiro al spiritual grov•th, and then 'MiThJ Matters, looking bibllc81ty at mental health. ¥$*&￿¥￿-￿tt, 2022￿9 2023* 1 R, S¥•XgPUla, TNG • -fF, È11& [*yaotJfiÈJ %sJiill IAXlYMffiJ %51J, 2023 * 4 ￿. ￿11￿174- iJIUIAalÈ, [￿a￿lAj È¢JsyiJa, 14tJAk&ar4ll. fiL>fflYJ J,* Throughout the year. our children's minw pastoral Wofker, Glatys Ng, continued to visit each Kids Church group and spent tirm delivering training to the ministry volunteers as well as Winning lea buildlng adivliies for each Kids Church team. Pastor Ollie Knight conlinued to lead the TNG Pastoral Team and partner with the Chinese Overseas Christi8n Mission ICOCMI for Next Gen Leaders Iraining PTogramme on 4th March 2023, and then the annual youth sumn*r camp, Praise Him All Tc#3ether {PHATI in Juty 2023. wi Lal. TNG , (COCM) YF. frè 2023* 3 R 4 EWF-ItWrJllAIQ, 2023* X¢-*-kÈ¢JliJ*ll*al [FJIL*J (PHAT) . #ÈLYII, During the sunvw bmk. we held a Stxth Forwws Tri) for older youths wtyll be going to unlvefsity. Then the Autumn Tern began in Seplember 2023. and we held a church-wide Youth & English Ministry Baptism Cekbrats'¢)n on 17th September, in which 16 young people were baptised along with some 8dutts fn)m our English-SFeaking congregat￿nS. , 2023 * 9 R, IklnE 9 A 17 15 Whilst Pastor Ollie Knighl corrtinues to 0￿see The Next General￿n Mintstry as part of the wider English Ministry of CCIL. pasttral worker Charis HuThJ re-joined the TNG Pastoral Team in September and has been gtving direcli)n to t￿ Youlh Ministry vthilsl based in Hammersmith. working with Haynam Sharn based in Croydon, T*those intemship was extended to cover Ihe needs Ihere. Following John Ho's intemship, he becaffe a pastoral ￿￿rker in October 2023 8nd I(￿uSe8 on the university student ffmnistry ￿lSed in Soho. {Pastor Oll* KnKJht) MAAF-tt¥I, JRa*•XWIIJ-IB5>. (Charis) AIJLL￿1ffiJJQ￿TF-l￿IA￿￿th￿￿, ¥£ Hammersmiih154l*1 Wl. Jt, (Haynam) YF. , 2023* 10 RthIA*f]I, (John) In ¢onSUh*ic￿ with the leaders of Colindale Congregation. a need ha8 been identff￿ for a Youth Ministry pastoral worker there. Therelcxe a recnjitment prrtess is underw8y to further expand the TNG Pastoral Team in re8ponse to th8 griming number of familie8 With young people attendlThJ the Church. Xlm•K-8l¥iJMity*fJi. LIX TNG IA¥1 PLANS FOR FLrruRE PERIODS XXIIJ Th• Board h•• Id•nttfi•d and •ndorn•d the followlng Prl¢)rltS08: Govemanu.. The Bowd continues to seek improveff*nt to strengthen the current governance as headed ty the Board so that the ￿Ole Church with rts various cenlres and growing congregations may serve the church communty with greater alh3nment to our vision and prioritie5 and wrth a slronger sense of corporate Klentty. The Board has prc4Juced an ord*iatbn poly which has been used for the ordinatb)n of Pastor Oltver Knight in 2021 and for Pastor Pui Yin Ho in 2023. The Church VAII continue to plan for the ordination for ots suitable members of p86tcTrl staff. •tE￿￿T￿￿L￿*, 2021 2023 The Board has put in pL%e staff supervtsion and linethrTranagerrent structure to improve staff weware and accountstslty. and will continue to n￿nItOr our staffs wdl-being. 16 LJa•AIiJ•J4ipJJA*J, Invest in Future.. The Church currentty meets in centres over six geographic locatK)ns {nc including Seven Dials since il is under the administration of Sohol. Each cenlre aims to provide services in three languages.. Mandarin. English and Cantonese lamhough in some kxations not all three langL￿jeS are offered). Since COVID, online live-stream Sunday Services have been running in paramel wth physical Sunday Ser¥bce in nKJst of our ontres. *IE: Seven Dials. COVID LI*, The next generation 18 increasingty multi-cultural arKI their friends reflect the diversity of London. This has presented challenges in that each centre-based ￿dership now has lo serve the local church communty in a diverse manner. The nexl generation Is also very adaplable to new tochr￿￿JY and online gatherirKJs. F-ftxy J$tXIS. )A•*7YÈIE, The church plant in Strafford is gettsng estsblished and stabl1￿j with it8 own 8taff and seNing team, There is a steady but sk￿￿1 do1￿ number of IMm￿rants coming lo the United Kingdom. We wll continue lo develop church plants to reach out10 those already he￿ or due to come. With an increase in families with youths and chiklren, the church is ￿t￿ety r￿lU$llng to build the EnglK8h speaking pastoral team to seNe the future generation. The Board continue8 to review the deployment and recruitmenl of pasloral staff, including voluntary workers. as V•pII as prop)s81s for church plants. second services, and the rentsl of additional space for Sunday Serv￿8 and other aclivrtEs. The Church wlll continue lo identfy. train and mentor capable staff rr*mbers arKI volunteers to attend to the challenges and t8ke on leadership role In e￿h centre. Slratford The Church held a staff retreat in Juty 2023 to discuss and plan for church gr￿￿h. The theme ofthe relreal was"Transfo￿at￿nal Churth.. Learning Jesus, way from the inside out.. The purpose of the retreat was to enable the staff team to share and reach a comm 17 understanding and agreement on the tranSf￿MatIon. As a re￿11, the pre&hing series for 2024 Nwds created and used lo take tho church forward in this trartsf0rn￿l1on ioumey. •r; 2023 * 7 Rkn7-YxifjIi&#•. trJ#¥IYX•aYUR. i *mJll7 2024 ffit*%l*¥Aa&ll*Zlff*l The church has contin￿1 to buikling up an e-library of teaching materÈ31s to support our Kweaching preparatN)n. Also, the church has C￿neCtIonS vlth a few seminaries and evangelistic organisations in Hong Kong lo explore ways to support the ne*1 immigran1$ with training projrams and ganised scffle mu$ic81 ev8ThJelistic events to reach out to them. LJMld Mlnl$trles.' As a church we bel￿e that the spiiitual wellbelng is of importance to all th8 charrty work. In the coming year, we wlll ￿ntInUe lo promote regular corporate and individual prayer groups al ea¢h cenlre. We will also aim to improv8 and consolidate biblical teachings 80 th81 our mernbeT5 vKuld recerve the spiritual nourishment they need, and make effective use of the available church resources. This is in-line ￿th our growth plan as an Intenlbnal Dixiple-making Church. The fc¢u$ Is to help every bellever b8corr* 8 dlsciple of Jesu8 Christ. As a Charity we are also aware of needs in our convnunlt￿S. In the coming year. we will seek to work various communty proiecls lo provide supwt to people affected by the economt downturn. illness and losses. such as counsdling services, social economic projects such as fo¢)dbanks, ellerly felk)wships. English classes, and Mll cOl￿borate viith Para-church organisations to deliver the services. FINANCIAL REVIEW IIIIIFt The church reporled a net deficlt of £23,369 for the year 2023. which is a signrfunt improvement compared to the deficit of £161.458 reported in weV￿S year. AdditDnally, the deficit for 2023 is far below the £324.7(KJ estimated in our t￿(￿Je1. ¥A*tr 2023 23,369 IR*9Ye￿5. ￿ 2023 , 161.458 324,700 M. The most signrficant expendrtufe fo( the church was the payroll. with £1.061,818 allttated for staff salaries and pensions. Moving forward, the bcord will continue lo diligentty review and monitor payroll expenses. Donations and renLIl income play a vital role in supporting the church's objectives. In 2023 the accumulated Unffjstricted Fund reserve CUfTenty stands at £726.737. Wrthin this balance, a nel unrestricted loss of £35.858 was incurred during the 2023 financial year. I•¥￿111￿&￿jfFffi. 2023 *, XIt￿•j*t#ffl* *, 2023 w￿*J5151￿ 35,858 M. lJa 726,737 A8 of th8 end of 2023, Ihe Restricted Funds reserve amounts to £5,249,336, with a net profrt of £12,489 attributed to all restricted fund5 in the 2023 financt81 year. 2023 4r￿, 5,249,336 M, 20223 12,489 *. The Articles of Association empower the Board lo invest cash which is not immedkglety required. We have decided to invest into a savings a(xounl and aim to generate interest income. F. Ll>Jl8flJ 8TATEMENT OF TRUSTEES. RESPONSIBILITIES ThAAE Thè Trustee5 Iwfio are also the Directors of the Chinese Church in London) are ￿sponsible for preparing the Annual Report and financial Etalery*nl$ in accordance with applicable law and United Kingdom Accounting Standards Iunited Kirodorn Generally Accepted Accounting Practte), including Financial Rewrting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law and the applicable to ch8rrties in Engkqnd and Wales require the Trustees to prepare financial statements for each financial year which give a Irue and fair vwi of the state of affairs of the Charilable Company and of its incoming Tesources arKJ application of resources. including its income and expendrture, for that period. 19 A (FJPttsXM#*l#**•È¢JE¥) <￿*¥￿￿1J) (# ' otJR¥XFtyHIJJ In preparing these financkql statemenls. the Trustees are required to:. Select suitable 8ccountin9 [X)I￿leS arml 8ppty them consistently: Observe the methods and princip￿ of the Charli￿8 SORP; Make judgements and estimales that are reasonable 8nd Pr￿Jen1', State whether applicable accounting starKlards have been follovKd, subject to any material departures disclosed and explained in the financial Stalen￿1$,. and prepa￿ the financial slatemenls on a going concern basis unless it r& inapwopriate lo presume that the Charitsble Company will continue to operate. The Truslees are responsible for keeyng proper accountiry records. disclose wrth reasonabl8 a¢curacy the financial posi1￿n of the Charty at any time. and to ensure thal the financial statements comply with the Companies Ad 2Crt)6, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deod. They are also responsible for safeguarding the a558ts of the Charity and hence for taking reasonable sleps the preventi)n and detection of fraud and other Irregularities. Under Compary Lahf the Trustees musl not approve the financial statern&nls unless they are satisfied that they gNe a true and fair view of the stale of affairs of the charitable company and of the re8uM of the company for that P8tiod. (20C6 */ '*) . 12008 {MSlU￿￿} IWJ) LARriE￿*)￿lJ￿￿. ltsni The Trustees conflrm that, In the case of tsch of the persons who are Trustees at the date of this report, the followng applies=_ *EA[f￿, LAFltrRj￿. . 20 So far as each Trustee (Director) is avrare there ts no reknnt aLKIit information linf¢xmalDn needed by Ihe Compary's a￿￿110[S in connect*)n with preparing their report) of which the Company's auditors are unaware; and Each Trustee (Directcy) has taken all the steps necessary to ma(e faselflhlmseif aware of and disclose any relevant audit Infomallon, and to estsblish that the CoMp￿Y'S auditors are aware of that Info￿at￿n. ) ¥EW-¥JthaK, Jt,nip AUDITORS •ItrII The Trustees have consenled lo treating the appointrrnnt of1tr￿X Cropper 86 eXte￿jIng to Knox Cropper LLP. IEAf]*K Knox Cropper Knox Cropper #MIPthKa. A resolutlon to re-apwint Knox Cropper as audrtor8 01 the Chlnese Church In London vlll be pul to members al the f(wlh¢orring Annual General Trleeling. m*klM&I-JI**, ￿￿￿KnoxCropF￿ra Thls report has been prepared in acc￿dance Y4iih the $￿al provisions of part 15 ofthe Companies Act 2006 relating to smal companles. Approved by the tr￿te¢S and slgned on their ￿h•ll by: Chairman£A Deacon Che Sheung Wcry #*VJA D•ts: 08 August 2024 EII. 2024 * 8 fi 8 21 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CHINESE CHURCH FOR THE YEAR ENDED 31 DECEMBE J 2023 023 2023 12 31 Opinion We have audited the financlal slaterrents of Chinese Church in London {the 'charrtable Company) for the year ended 31 Decemter 2023 whith comprise the St81emenl of Financial Activrties lincluding the Inco￿ and ExperKlilure Accounll, Ihe Balance Sheet. the Statement of Cash Fkms and the notes to the financial st8tements. induding 8 summary of $KJnffj￿8n1 accounting policw. The financial reporting frarr￿￿￿rk that has been appl￿ in their preparation is applicable law and United Kingdom Accounting Standards Iunrted Kingdom Generalty Accepted Accounting Praclicel. including Financial Reporting Standard 102 'The Financial Reports"ng Standard applicable in the UK and Repul￿￿ of lffjland.. *IPYE•trHW*¥I*YA• I J ) ￿ 2022 * 12 ￿ 31 tl a¢Jk ¢RJI J In our opinion the fina￿141 stal•merrt•: Glve a tru8 and fair view ofthe state ofthe charitsble company's affairs as at 31 December 2023 and of Its Incomlng resources and appllcation of resources for the ￿lod then ended., 2023 ¢ 12 fi 31 AIR¥I4%4R, LJR Have been proF¢r￿¥ prepared In acc￿danCe wlh Unlted Kingdom General￿ Accepted Accounting Prath"ce, including Fin8na81 Report5ng Slandard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland.; and -¥FJ) 102 atJRaiM&-IlRJI J ￿￿J. L Have been pr￿red in accordance vthh the requirements of the CompanEs Act 20C6. Basis for opinion We conducted our audit in accordance vthh Intemational Standards on Auditing (UK) IISAS {UK}I and applicable law. Our responsibilrties under those stsndards are further dewribed in the Auditols ￿POnSIbl1111es for the audit of the financHI statery￿nIS ￿tiOn of our report. We are indeFendent of the charrtable company in a¢cordance the elhKal requirements that are levant to our audii of the financial 5taternents in the UK, including th8 FRC'S Ethul Standard, 22 and we have fuKIlW OUT Other ethical responsibiliti88 in xcordance with these requirements. We believe that the audit evidence have obtained is SU[f￿lent and appropriate lo provide a basis for our OFynion. *>k¥RIJ) ( ) (ISAS {UK)) 51fF7ts-XW. *, t1￿ #72S>IQA*ÈY Concluslons relallng to going concern Ill￿￿# In audtting the financial statements, we have concluded Ihat the trustees, u88 of the goiry concern basls of accounling in the preparation of the financial statements is appropnale. Based on the th we have perfor￿*d, hav8 not 1dentrf￿d ￿Y material uncertainties ￿lattn9 to events or conditions that. indivmjualty or cdleclively. may cast signrficant doubt on the charitable company's abillty lo continue as a goiro concem for a Per￿ ol at least tsyelve months frcm when the financial statements are authorised for issue. Our responsibilities and the resFrf)nwtslities of the trustees With respect to g￿ng concem are described in the relevant S8Ctions of Ihis report. Othw Information XItsMAI The other information comprises the 1nfcmia1￿n included in the Report of the Trustees,, other than the financial stslements and our audrtor's reFQrt thereon. The trustees are responsible for the other Infomiati)n. (*IEA AAA. Our opIn￿n on the financial statements does cover the other infotrnation and, except to the exlent olheTh¥i6e explicitty slated in our report, ¥￿ *) * 16 ￿5 PJ, E￿A￿k1P3&￿tIfF. WJAE. '1fiEAbJ>F￿j Richard Billinghurst FCA Senior Statutory Auditor for and on tehalf of Knox crOp￿r Il• LLP Knox Cropper LLP Chartered Accountants and registered Audrth ml•lFM]ItfFB•ItI 65 Leadenhall Street London EC3A 2AD Date: 27 CHINESE CHURCH IN LONDON F FINANCIAL ACTIV TIES INCLUDI ACC NT R THE YEAR ENDED 31 DECEMBER 2023 TATEMENT COME AND EXPENDIT RE L¥--**-B=**B INCOME FROM Donatlom and Log•cl 1.365.027 3tr.242 1,891289 1,301.673 Oth•r Trndlng Aetlvltl•s 82.420 81420 113,46S InvMtrn•nts IlllyPJAI 825 TOTAL INCOME RE Ral8lng Fund8 ChArftsbl• Aetlvltl•• 1377 321 TOTAL EXPENDrruRE **IU 314 752 1577 321 NET INCOMEIIEXPENDITUREI AND NET MOVEMENT IN FUNDS FOR THÈ YEAR 136,8601 12A90 123,3881 1161NS81 RECONCILIATICAY OF FUIIDS". B•l•nce bff *t 1•1 J*nu•ry 2023 762,$96 6,236,847 S,999,442 6,160,900 Ballnce clf al 31•t D•¢•mb•r 2023 £5 249 336 £6 976 073 £5 999 442 All actiwti85 f8F4Yted al)0¥o are Continuing adivities. FrKe bst year's frJure p￿ase see Note 19. 19. 28 CHINESE CHURCH IN LONDON BALANCE SHEET AS AT 31 DECEMBER 2022 FixeD ASSETS T*nolbh Flx•d A•••ts 3,022,819 Land ond byiWing8 2.967,100 1,781119 Bulk11ng irrpro¥ements 1,712361 10,J11 Fixlures & Fith'ng$ Offic8 FUrThrtu￿ 8nd Equpftxrt 8*14 5,907 2,741 13 4.fj91,79Q 4.8q7.991 CURREPIT A86ET8 DebturnffllJJA 14 119.903 103,UJ Caih ¥t Bank in Ha￿ AÈRHK< IS 1 220.774 IA29259 1,324,367 CRELfft)R8.. Amounts fallirKJ due withln one year WIIIA 144.975 142.906 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENf u￿UTIES 6,976M4 6,999M42 TOTAL NET ASSETS £5 999 442 FUNDS Unrestricted 726.737 782,696 17 6 238 847 TOTAL FUNDS t5.976 074 E 6 999.442 Th& Flnanclol Ststen*nts hal￿ *￿en wepared in ar£￿18n¢e 7Arfth Ihe spedal provisions of Part 15 of the Companies Act 2006 ￿laI￿r￿j to snwll chariiable cornpanies. 29 The Finarri81 Ststeffents were approved by Tfusttss on Q8 ALb3USt 2024. 2024 * 8 A 08 8xi8ouiItx. Ch•lrnMn ID•acon Ch• Sh•ung Wong) Chw¢h Twpasur•r Iyulan, Cl￿) D•l•: 08 Augwl 2024 211: 2024¢ 8118 Company No. 05285135 30 CHINES HURCH I CASH FLOWS A NT AT CE NET CASH PROVIDED BYIIUSED INI OPERATING ACTV4ITIES ft#y ( 96,006 143,1061 CASH FLOWS FROM INVESTING ACTIVITIES Inveslrnenl Income Purchase of Propety. Plant & EquiwTWrt R#J*. NET CASH PROVIDED BYIIUSED INI INVESTING ACTPrfITIES *iKXln* li#li { 6.101 825 17A741 12,669) CASH FLOWS FROM FINANCIIIG ACTMTIE8 Repoyrnents ol Boirowin9 fO12l NET CASH PROVIDED Byiiuseo INI FINANCING ACTIMTIES CHANGE IN CASH AND CASH EQUIVALENT8 IN THE YEAR 146,775) CASH AND CA8H EQUIVALENTS AT BEGINNING OF YEAR ¢¥JSnt&wt•Jffl* 1,220,774 1.266,549 CASH AND CASH EQUWALENTS AT END OF YEAR £1220 774 31 CHINESE CHURCH IN LONDON NT F CASH FL NTIN AT 1 DECEMBER 202 ED Cash flow4 Loans eonvtrted to donatlon• A••¢ 0110112023 A••ta¥ 31112r2023 1.220.774 88.532 1,309,308 Bulldlng Fund Int•re•t4r•e lo•n• 182.IXKJ} 182.0001 TOTAL £1.138,774 £88.532 £1.227,306 TIMC 2023 2022 N•t Incom•ll•xp•ndltuY•) for th• ye•r ( I& ) (23,3681 1161,4561 Adj￿trn•ntr for. Investment income 16,101) 139,776 118.370} 2.Ck89 16251 137,351 2S,470 Dwed8lon ￿15 Iln¢reai•llD•u•a8• In Debtor8 ( I I Incrna8e In Creditors Ilm I I ) IIRA 143.1081 Investrnenl Incon* 6.101 825 Purchase of ProFety, Plant & Equymenl IlJl#J* . 113.575) 3,4931 CHANGE IN CASH AND CASH EQUIVALEp¥fs IN THE YEAR 08.532 {45.7751 32 CHINESE CHURCH IN LONDON TO THE FINANCIAL STATEMENTS FOR THE NDE 1DE BER 1. ACCOUNTING POUCIES •II lal B••h ol Aeeountbno •lt These acc£)unts have been prepared undtrrthtr hisltsital convenbon, In accordan￿ whh the Flnandal Reporting Standard 102. tho C¢Mnpanies Act and the fequffements ol the Stskment of Reeommènded Pradce. Accounting and Reportlro ty Charth"es IFRS 1021. The corwny IB a public bonefit enllty. 1¢Y2. 2(NX IFRS The Iru6t••8 ¢on$id•r th*t therg are no material Ur￿rtaIntles aboul the Charit￿¥ ability to Conlin￿ •• ¥ goirvd The pre￿ntat￿al Curren￿ of the financial stst•mnt8 18 ste￿n0 1£). {£) . Ibl Flx•d A••4t• Fixed 8$8ets ar• dlsclosed at cost net of depreuatbn to d8te. Th• eosi of N￿ne￿8dd[llons or those ￿$lIng be￿ £ 500ar9 nol Cap￿all9ed and are ￿Itten off in the year tsf purchasè. Ass8ts transl•rr8d Irorn the predecessor chanty hAve been reoxded 8t c￿1 equP4gkqnt to thelr net book value In pr0dec￿or chaity at the date of iranslor, JA$1 Icl D•pr•elatlon Depreciation of fixed assets is ¢oknAoi¥d on ¢o$l ot rate8 eslmated lo wrlte off the assets. by equal in5talment8, over their exp¢¢led WOr￿￿j INes. Flxtures and ffittlng5 and eoulpmenl are wrltten off on a strolght Ilne basls over 5 years and 3 years ￿SpeCtiVe￿. 8ulkI￿95 on<1 building inwrovements have been deprecLaled over ihe Ime ol the property vthich ho5 ¢$tim8ted at 50 y6ars. As a resurt of a rewew ol the depreck9tK)n polKy, Ihe in5t8lled lrft 1$ being written off over rts remaining uselul lrfe. The cosl ol improvernents gt thtr United Refomi Church deprg¢lated over 20 years. Depreryation c*afges on 8ssots tranif•fred from th• prodac8ssor chanty continue lo be ap￿led on the basis of rJ)sl to Iht prndeeessor charty and the wedecessor charity'8 esllmate of economic I￿e. 5 3 **1ty. {tiita 50 ¢1 Idl In¢om• J AJI income is Tecwnised In the Slalement of FinanciBI ￿￿"￿ttes once the charita￿e coryjany has enIrt1er￿nt to the lunds. 8ny pwfom78n￿ ¢onditb)ns attgche(I to the items of income have been rnpl, it is ptobable thal Ihe incomè ￿11 b8 r￿alVad and the an￿UnI can be rreasured rpliably. Oonation6, covenants and are uedlled tolhe ￿jnts kn the year Ihty •re feceNable. grossed up fortax r8o)verat4e appropriate. Inleresl is (xeflited to Its w)unts In the ￿aT in wh*th bt is receNable. 33 lel Value Added Tax IIIAIA The Charity Is nol re9iStwe(I for VAT and alzordiryty. Ithere applk¥t4e. all co8tB and axp8ndluTe Incurred are shown in¢lu$fve of VAT. ID Funds Unreslrt¢t&d fvnds 8T0 lho￿ fvrth. whth b8 u••d at thg Trust•es' dlsuoth)n. R￿trI￿tid Fund8 Are funds whose purposes have been restrk*d by the donor. gl Expendlturn Ch8ntable expendlture compr*es dlred expendrture 9ttnbUtab￿ to the chAthable Ob￿c￿¥t3 or activrbas and 8upporl costs. Where costs cannol be attributed. tw have been apportbned lo tharttablè objtetivg5 or vifr'98 according to It+e tin* or T•sc4Jr¢es ￿nI on frath. sup￿ costs are Ihose lunctions Ihal 88sL81 th9 work of the d)arrtable company bul do nol directy untlertake fundraisi￿ or ch8ri18bk a￿l￿Ve$. Support costs Indude general overheads and governance c081s (those costs Incurred in the govemane• ol Ihg ¢h4rttab ¢omp8ny and Its 8s$ets 8nd art primarfty a$socKqied with con$iiiutti)818n*J slalutory ￿qUiren￿nts}. Ihl Grant8 Ilmj Grants payable are charged In Ihe yearwI￿n the offer IB ￿n¥eYed to thB redWent. 111 P•MloM The Charty contrlb¢Jtes lo defir￿d contth￿ pen8*)n $d￿rnes and the pensknn chgrg9 ￿pr￿nts the lrnount payable by the to thts In respect of the year. Ul Key JudBement• and E•Umote• *wiiiiiiatt Financial instrument dassification RJIAIA5Y41 The classbficatw offThnrAal instruffMt8, both assets and liabrfitEs, as'bast. or'olhef requi￿3 judgernenl a¥ lo ￿ell￿ all awicable ¢CrfKIth)ns a5 basic are rt This ncludes the typg of Inveslnwnl or ben and 6ts retum. The Charlty only h8$ fln8ncfjBI gssets 8nd 118bI16Ie$ ol 8 knnd that qualty as ba51c ￿na￿L41 instruments. These are initkglty Tecognised al transaclion value aTrJ subsaquently valued al the￿ setderr*nt vdue. 34 uSeft￿ IK¢ oflun¢Uonal propertles The ￿MaInIN4 u8&1ul Kfe of deprec68t4e rwoFwlles is rwiewed by management * each reporting date and, rf n8c•ssary, the dep￿ciat￿ charge adjusted accordingty. (kl Short.t•m) d•bthrn and erndlior• Debtors a￿ recognised when the Chaiity is legally enbled to th8 irtoff* after ary pOrf￿¢? condrtlons have been mel. the arrrf)unl cen be rr•8sured rel￿b￿ ond it 15 prOba￿e ihal the income ￿11 be recaived. Creditors are recogni8e