REGISTERED ¢HARrrY NUMBER.. 1108135 naudi Flnan on1 .2Q21 L80 & ca1 P8rtngrs Ltd Chartered certd Aecount8nts 2S South Lane New Malden Surrey KT3 SHU
THE KAN. B.EE PRE BYfERIAN CHURCH oolonLs of th¢ FitL4nLial StalLmenis Ended 31 ember 20 Roport ofthe Trustees 1 to 2 Independgnt EMarnin8ffs Report Sta18m8nl ol Fin01 Actfvili6¥ Balan(* Sheet Notes lo the FSn8neial Slatem8nts 6 tts 10 Detalled Slalerront of Flnanckl Act1$$ 11
E HANBEET REN PRESBYTE ort ofihe Trusiccs forihe Year Ended 31 The trusteos psent their oport with the financial statements of the chartty for the year ended 31 December 2023. The twst88s have 8dopled Ihg provisions of Actounbng and Reporting by charl¢$.. s&tl of Recommended Prad¢e applic8bkg lo charities preparing Ih8ir accounts in accordance with th8 Finanual RerM)rting Stsnd8rd appliCae in the UK and Repub11c of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTMTIES Obl8ctlvoB and aims To worship God wthin the Presbyterian faith. To d8V8lop religious eduction for Kor8an 5peaklng ¢9r09all0Th h and around London. To wovide a help network fty und8rptivileg8d Kor88n8 in Ih8 UK. To support Korean comrnunty projects in Ihg UK. Europe and Korè8. TD wovid8 flnanclal $Jpport for over8e88 Chn8Ian Missions. Slgnlncant actlvltloll PrO$10n of bnnallY financlal 8UPPOrtlor over8ea8 Chri$Uan ml¥$w in Europe, Korg8, China 8nd Africa. Organklng religious eduOn Delivery of fin8nd818id and 8ehol&rshlps to Und•legod Kor•8ns In tho UK and Korea Publ5¢ hn•fit The chartty acknowledges Its requlroment lo dernonstrats dearty that il musl h8ve chatable purpo888 or airns,. Ihgt arè for th? publ1¢ benefll. The Tru8tees nflrrns that they have pald due r8g8rd lo the Ch8rfly Comrnlssi)n gun(¥ on pu1¢ benefit belore deodlng What acllYllle6 the th8rity Shou undertake. FINANCIAL REVIEW Fln4n¢lAI pts110n The re5u115 for the fln8ndal ptrltsd Brè sat out In the statsmenl ol Fln8nclal actSvili8s. Ov8r811 the ch8rtly inco lolalling £300,472 12022.. t287.e821 th 8xpendbtur8 on ch&dtable aGtivllle$ Ilndutjlng other CO81sl E288,299 12022.'£250,5541, resulllrva In a net surjus as al 31 DKember 2023 of £12,173 12022'.£37,1081 Total fvnds A8 At 31 D¢c¢mbor 2023 arts £521,S57 12022..£500,3841 Res00• poII¢y Th8 Iru$t80$ have consldered the of re8ervg8 thgy $h to rglain, apprOatg to Ihg needs. Thls 1$ b8s8d on the chadV5 SIZ8 and the level of financial CmItmantS held. Th• tN$le8S airn to 8nsur8 th• chartty wlll be able to conllnue lo fulfll hs ¢hadt88 obJ"eciiv& even rf Ihere k8 8 lernpor8ry shortf811 in Income cy unexpected expendlture. The trustee$ 1¢ nde8vour not to s•t asido fvnd8 unnecessarily. STRUCTURE. GOVERNANCE AND MANAGEMENT Gov•mlng docum•nt The charfly 1$ eonlrdled by R8 9mIng docum8nt. cnn9trtulK)n. Rl•k man•g•m•nt The tnJ$lees have a dity to Identify and th& ri8k8 lo whlch th8 ch8rityth8rity L8 expo and to ensure appropr181 conlrds ar6 in e&l0 Pde rgasonqblè assur8nce fjo8lnst tra and error. REFERENCE AND ADMINISTRATIVE DEfAILS R•gl•t•i•d Charlty numb•r 1108135 Prtndpal 4ddre8 1L London Road nG$ton Upon Thame6 Surrey KT2 6QJ Tn88 J Y L88 Trusiee Y Chung Trustee TKIM R Park Trustee Page I
THE FL4NBEET KOREN PRESBYfERL4N CHbliCH n of the Trustees for the Year Ended 31 Deccmber 202 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examlner 8yung Hun Lee FCCA Lee & Capital Partners Ltd Chart8r8cI Cerbfied Account8nts 25 South Lane Now Malden Surrey KT3 SHU Approved by ord8r of the board of trus¢e85 on 15 Octob8r 2024 and Synqd on it$ behaK by.. J Y Lee. TN8tee Page 2
Inde[nd¢ll1 Examiner's Re rt lo the Trustees_oL HE HANBEET KOREN PRESBYTERIAN C14URCH 1ndand•t 8xamlner'8 rnport to the trustse8 of THE IIANBEET KOREN PRESBYfEWAN CHURCH l port lo the charity tw$le8s on my exarnin8tion of the 8¢eoLLnts of THE HANBEET KOREN PRESBYfERIAN CHURCH (the Trust) for th8 year end8d 31 December 2023. Re8ponslblltt1 and basls of report As the charity trustee5 of the Trust you a re8pon8lble for the preparaOn of the ac(twnts In a¢cc¥dance wlth the r8quir8ments of the Charities Act 2011 l*h8 Acri. I r8p)rt in raspect of my exarnin8tion of the Tru$Vs aecounts carfed out under Section 145 of the Act and in e4nyng out my examSnatn I have folk)wgd all applicable Dir8clions given by th8 Charty Commlssk)n nder S8ction 14515llbl of th8 Act. IndenOnt •xarnln•r'8 •tstem•nt Sin¢¥ your Cha$ gro$$ income 8xc8eded £2$0,j0 your ex8mln8r must be a m8mber of a listed brxly. I csn nfIrM Ihat I am qualified to und8rtak8 th8 ex8min8tion because l èm a member of the A8soCIati ol Chartered Certw AccoJnlants. whicl) is of the lis18d bodies. I have completed my examln8tion. I wnfimi Ihal ng malerf81 matier8 have come to my 8ttentbn in conne¢ion wlh thg examlnatbn giving me cause to believe thst In any matsrial rèspgd.. a¢countlng rgwrds ww8 not k8Pt in ros¢1 of the Trust as NUIr by Sèctson 130 orth• Aet.. er th8 accounts do nol acGord those r8cordB", or thg accounts do not comply with the appIlble requirents concgmlrq the fonn and cont?nl ol 8tt4unts set out In Ch8rllies (Account8 and R8POrt51 R8gulatbns 2008 olhar than any raquirem8nl that the accounts glve a twe and falr wew whkh16 not a matter considered 88 part of an indepand8nt ex8rn1nalion. I hivo no coneems and eomè •¢ro88 no other matters In conneGlk)n 1h the trxamlnaon to which attentlon should be drawn In th55 report In ord8r lo 6nabl8 g prop8r understsndlng of the accounts lo be rgachod. Byung Hun Le• FCCA Lee & Capbtsl Partntsrn Ltd hart8r8d C8rllfied Aecountants 25 South Lan8 New Malden Sur KT3 SHU 15 October 2024 Page 3
E FL4NBEE BYTE iaicmenl of Financial Acliwiiies or 31.12.23 Total fuTrds 31.12.22 Total fund Unrestricted fund R¢strirt¢d fund Notes INCOME AND ENDOWMENTS FROM DonaliDn5 and legaGie5 300,234 300.234 287.e41 Investment income 238 238 21 Total 300,472 3W.472 287.662 ExPEN0URE ON CharMabl• actlvlths Ch8r118bl8 8ctiviU88 288,299 288,299 250.554 NET INCOME 12,173 12,173 37,108 RECONCILIATION OF FUNDS Total funth tsroughl f48r 80,123 429,261 S09,384 472.278 TOTAL FUNDS CARRIED FORWARD 92,296 429,261 S21,557 $09.384 The noies fom) part of these financial statemcnts Pa8e 4
Bdlan¢e Shcet 31.12.23 Toial funds. 31.1222 Tol81 fwjd UnTeStriCted fuDd Resthcted fund Notes FIXED ASSETS Tangible assets 22,302 429,261 451,563 439,977 CURRENT ASSETS Cash at bank 87,568 87,568 70.1 CREDITORS Amount8 falling du8 Wthin one ygar 117,5741 117,5741 11.4941 NET CURRENT ASSETS 69.994 e9.994 69.407 TOTAL ASSETS LESS CURRENT UABILITIES 92.298 429,261 521,557 509,384 NET ASSET8 92,298 429,261 521,557 509,384 FUNDS Unreslrfclod lund8 Restricted fund6 92.296 429.261 80,123 429.261 TOTAL FUND8 521.557 The ftnanel81 statements w•m approved by the 80ord ol TNslees And aulhort8ed lor luu& on 15 October 2024 and were jiqned on its behalf by.. YP R Paffrt- Trust8 The rEote5 fomi part of these financial statements Pag¢ 5
THE HANBE REN PRESBYT HURCH oies to thc Financial Siaiements for the Y¢èLEnded 31 DeLemb¢r 2021 ACCOUNTING POLICIES Ba818 of preparfng the thnanclal statoments Th8 financial statamenls of the ¢harlty. which Is 8 PU1¢ benefit entSty under FRS 102, have been prepatsd In aco)rd8nce with Iho Charitie8 SORP IFRS 1021 'Accountiry and R$p(Ating by Charitios.. Ststem8nl of Recommend Practice applicable lo eharili6$ preparfng Ih8ir accounts in accordanc8 wllh the Financiol Reporting Standard 8Oicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Finan¢k81 Reporting Slandard 102 'The Finanaal Reporting Standard ap lcaa in the UK and RepuLlic of Iraland. and the Charities A 2011. Th8 fln8nci81 st8temants have been prepared underthe historKal c05t conntIon. In¢om l income is receon188d in th8 Staement of Fln8n¢ig1 Activi05 once th8 charity h95 enti•mont to the fvnd5, 11 is Proba that th8 IncLYno wlll be rec8N8d and the amount (an rn888ur8d r811ably. Expendltur• Lkgbililies aro recoonised a5 exp6ndltur8 as a5 thèr• Is a legal or constructive oblSgatlon mmittIng tho charfty to that expendllure, 11 is probablo Ihal a tr8nsfsr tsf ecfjnomk ben8fi1s will b8 raouSred In $etUemenl Mnd amount of the obligatn can be measured reliably, Exp8nditure is ac¢tyJnled lor on 8n accru8ls basis and has boon cla55ifi•d under headings that aggrat8 811 cost relstsd to the category. Where costs c8nnol b8 direLlly &tlrfbulgd to Paiticular headings th8y have been allocat8d to activities on a basks consistent wrth the use of r8sources. T•nglbl• fix•d as Depreciation 15 provided at thefollThthng annual rate6 In Order to wrflè off •ach asset over its 98tsrnaled u8efvl Its. Improvement lo propoty.. 2SYo on r•ducqng balance b8818 Plant & mathin8ry.' 25% on raducing balanc8 ba$is Flxtur85 ng8'. 25% on reduelno ba18nco ba61$ Tixatlon The charity Is 8Kempt from tsx on Ils charit8U8 actwllle8. Fund •¢eountlng Unrnstrbct•d funds can be u8ed in accordance wth Ihe charftabl• oblectfves at the diwet)n ol Ihe tru8lee$. R•siriCted lund8 can only be used for p8rticular restricted purposes wllhin th8 objects of the charity. R•slrfctions ari88 when 5P8¢1& by the donor or whon funds are r81sed lor p8rtkular rnslrlcted purFwe8. Further 8xplanatK)n of the natura and purp08e of each fund Is indudad In th• nole8 to the financlal 8iatsmenl6. Hlro pur¢ha•• •nd lea•lng commltm•nt• R8nla15 paid under oper81ing lea58s 8r8 charged to Iha Statement ol FinancLql AclbvM88 on 8 stralgm Ilno b88is ov•r the penod of th8 lease. P•n•lgn Colts and oth•r po$t•tIreM*rtI b•n•fft• Th8 charity operates a defined conlribulion p&n6Dn scheme. Conirtbulons payoble to tha eharftW6 P8nslon 8ch8m8 are charged ¢0 Sta18menl ol FinarKial Activiti85 in lh8 period to whlch Ihgy relate. Page 6 ontinued...
BYTERIAN CHURCH Note5 to the Fi[nCi&l Siaiemenls- coniinue for the Year Endcd 31 DLLembLr 2023 INVESTMENT INCOME 31.12.23 31.12.22 Deposit 8fAXAJnt Interest 238 21 TRUSTEES. REMVNERATrON AND BENEFirs Thore were no Iru5tees' rernun8ratv)n or 0th8r benefits for the year ended 31 D8mer 2023 nor lor th& y68r end6d 31 D8¢ombor 2022. Tru$tO•8' •XPonM• Thwe were no tru8tO•9' oxpens6s pald for thè year and8d 31 Decamb8r 2023 nor for the year anded 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTPIITIES Unreslricted furMI Restricted ruD(I Total fun(1s INCOMe AND ENOOWMeNTS FROM Donatn8 8nd18gacios 287,641 287,641 InstMent incorr 21 21 Totsl 287,862 287.662 EXPENDITURE ON Charltablo actlvFtI•¥ Charitab18 aclivili85 250.554 250,554 NET INCOME 37,108 37,108 RECONCILIATION OF FUND8 Tolal funds brought forward 43.015 429,2e1 472,278 TOTAL FUNDS CARRIED FORWARD 80.123 429,261 509,384 Page 7 continued...
AN HURCH ole% to the Financial.Sl¢MeryQx_$OQ for the Year F.nded 31 DeL'eTnber 2023 TANGIBLE FIXED ASSETS Improvements Freehold propfty Plant #rtd nchillery property COST Al 1 January 2023 Additlons 429,261 113,927 26.541 1,528 Al 31 DècemLr 23 429,261 173,927 28,057 DEPRECIATION Al 1 January 2023 Charge for year 109,116 1.203 21.504 1,641 Al 31 Decemtrkr 2023 110,919 23,145 NET BOOK VALUE Al 31 DecemtÉr 2023 429,281 4,922 Al 31 Decamr 2022 429,281 4,811 5,037 Fixn)res Moror vchiclcs riiiings Totals COST At 1 Janu•ry 2023 Addltbon8 43,982 613.711 19.021 17,495 Al 31 Oe¢emè¢r2023 43,982 17,495 632,732 DEPRECIATION Al 1 January 2023 Charge for year 43,114 217 173,734 7.4 4,374 At 310e(8mber2023 43.331 4.374 181,169 NET BOOK VALUE At 31 Dec4rnber2023 851 13,121 451,563 At 31 Deeombèr2022 868 439,977 Page 8 tontit)ued...
THE HANBEET KOREN PRESBYfERIAN CHURCH Noie$ 10 the Financial Sthtemenis- ¢ontinlloL for the Year Ended 31 December 2023 CREDrtORS.. AMOUNTS FALUNG DUE WH1N ONE YEAR 31.12.23 31.12.22 0th8rereditor5 17,574 1,494 MOVEMEMf IN FUNDS Nel tnovem¢nt in funds At 31.12.23 Al 1.1.23 Unr•strlctgd fund• G8n8ral fund 80,123 12,173 92,296 R•8tr1¢t•d fvnd8 Restrict6d Income funds 429.261 429.261 TOTAL FUND8 12,173 521,557 N81 movgmgnt In fund$, In¢ludod In tha ab)ve ore 88 follw.. InLomin8 re&uurces Resour¢es ¢x Movem¢nl in funds Unrn¥trfct•d fund• G$ner81 fund ,472 1288,2991 12,173 TOTAL FUNDS 300,472 1288,2991 12,173 Comparatlvos for mov•rn•nt In fund• Nel rnovement in fvnds At 31.12.22 At 1.1.22 Unr•atrlct•d fund• Goneral fund 43,015 37.108 80.123 R••trfet•d lund• ReStCtsd Income funds 429,261 429,281 TOTAL FUNDS 472,276 37.108 $09,384 Page 9 continued..
THE FL4NBEET KOREN PRESBYfERtAN CHURCH olo to the Financial Sia*rnents- for the Year Ended 31 Deccinbcr 2023 MOVEMENT IN FUNDS- contlnuod Comparativ? nel movgment In funds, ijuded in the abovg are a$ fdk)w$'. Incoming Tesourccs Rcsourccs expended MoNement in funds Unmtrlctsd fund8 G8n8ral fund 287.6e2 1250.S541 37,108 TOTAL FUNDS 287.882 1250.5541 37.108 Acurrent 12 months and year 12 months comblned po$iUon16 as fdtrw&'. Nel movement in fijnds Al 1.1.22 31.12.23 Unrnstrl¢t•d fund• General fund 43,015 49,261 92,296 RMtrt¢t•d fund• Restrfcled Income fvnd6 429,261 429.261 TOTAL FUNDS 472,276 49,281 521,557 A current year 12 months and prkjr year 12 rnonlhs combSned net mov8m8nt Sn fvnds, Induded In the al)ovg are a¥ fdlow8.' Incomin8 resouTee8 RcéouTCCS expended Movcmcnt in fvnds Unmtrfct•d fund• Gongral fund 588.134 1538,8531 49,281 TOTAL FUNDS 588.134 1538,8531 49.281 RELATED PARTY DISCLOSUR£8 There wem m related party trans8eton8 f¢rth• #r 6nd•d 31 Docombor 2023. Page 10
THE FL4NBEET KOREN P elled Stsiemeni ofFinancial Activiiie5 for the Ycar Ended 31 December 2 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donat10 and1•g•¢1•$ Oonalions Glft akl 261,007 39,227 256.247 31.394 300,234 287,641 Invostmont Incomo Deposit account intemll 238 21 Totsl Incomlng mourco5 300,472 287.662 EXpENDuRE Ch¥rtt8ble gctlvltles W8ge5 Employer Ntc Pension5 Church rant & runnlng &t Insurance Mlsslon support Education S¢hol8rshlp Spgakors Cal8dng and evant Books and tralnlng supwrt Condclence Advert Prinlln9. P06¢ag9 & 81a1)nory Compuler co81 Telephone & intemel Subscriplbn Motor & Ir8v•l +yn8•S Gift Slaff-relo¢atJon En18rtalnmgnl Sundry exp8ng Bank chargès Improvemen18 to prop8ty ant 8nd machlnery Flxtures and fittings Motor v8hlc188 135,150 8,229 7,909 21,219 3,640 30.447 24.272 2,400 5,746 9,214 11.337 2,670 111,491 5,523 1.321 16,072 2.959 28,328 27.694 2,700 7,515 5,755 3.657 1,760 1,305 3.417 482 1,038 489 994 395 3,918 791 6,291 1,57S 1,156 795 3,496 5,634 12,626 721 1.604 1,679 289 1.203 1,641 217 4,374 287,099 248.818 Support ¢0•ts Gowtrm*nc• ¢o•ts Accounlancy an(J legal fees 1.200 1,73e Total resources expended 288,299 250,554 N•t In¢om• 12,173 37.108 Thi5 pagc docs not fomi part of the statutory financiaj siatetn¢nts Page 11