Registered number 5382046
London Chinese Baptist Church (A company limited by guarantee and not having share capital)
Report and Accounts
31 March 2021
London Chinese Baptist Church (A company limited by guarantee and not having share capital) Report and accounts
Contents
Company information Trustees' report Independent Examiner's report Statement of Financial Activities Balance sheet Notes to the accounts Schedule of Support costs
London Chinese Baptist Church
Company Information
Directors
Reverend Edward Wei - Chairman Reverend Bing Li Reverend Ka Lok Wong Deacon Samson Ho
Registered number
5382046
Charity number
1112334
Registered office
1 Payne Road, London, E3 2SP
London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Registered number: 5382046
Trustees' Report
The trustees present their report and accounts for the year ended 31 March 2021.
Governing Instrument
London Chinese Baptist Church (LCBC) is a company limited by guarantee governed by its Memorandum and Articles of Association dated 03 March 2005. It is registered as a charity with the UK Charity Commission on 30 November 2005 and its charity number is 1112334. Its main objects are to spread the Gospel of Jesus Christ and to advance all aspects of Christian Faith in accordance with the doctrinal basis stated in its Memorandum of Association, primarily, but not exclusively, among the Chinese in London and the surrounding area.
Corporate Governance
The Board of Directors decided to adopt the Calendar year as the Church year and the latest Annual General Meeting was held on 6 December 2020 (via Zoom).
We are grateful for the contribution of our Advisors, including Dr Oliver Rice (Pastor of Bow Baptist Church) and Reverend John Hung, apart from myself (Reverend Edward Wei).
The Board of Directors administers the charity. Mr Mun Choon Lee has been given the responsibility to oversee our finance and chair the Church Finance Team, which currently includes himself, Ms Meili Li, and Ms Fan Zhang as members, with myself (Reverend Edward Wei) as member without a vote. We asked Ms Fan Zhang to audit our accounts internally and to appoint Mr Zongqi Du as External Independent Examiner for our accounts.
Mr Mun Choon Lee has set up our Workplace Pension Scheme from April 2016 with NEST for our two workers, in compliance with the change in Government requirement.
Ms Maggie Cheng, and Dr Yile Wu were re-appointed as deacons until June 2021. With the pastoral workers, they will have oversight of the LCBC‟s affairs on behalf of the Board, whilst the Board retains the direct responsibility for Church Finance (through the Church Finance Team) and Human Resource (Staff Employment) matters. They guide the Church Ministry Groups to execute the day to day functions.
The day to day affairs are being run by the Ministry Groups Leaders Team together with our Pastoral workers. Currently, its members are Reverend Bing Li, Mr Pun Ming Ip, myself, and Mr Yile Wu, Mr Stephan Kwan, Mr Mun Choon Lee, Ms Maggie Cheng, Mr Robert Xiaobo Yang, and Mr David Yip. The Team usually meets once every two months, alternating with the bimonthly Members Meetings, and the team members are responsible for different ministries together with the Pastoral Team - Outreach, Caring, General Chores, Children and Teens, Secretarial, Worship, Cashier and Fellowship Ministry Groups.
Concerning our Children and Teens ministry, we are member of the Thirtyone:eight (formerly CCPAS, the Churches‟ Child Protection Advisory Service) and it is the umbrella organisation to help us to administer checks required by the Disclosure and Barring Service (DBS). Mr Xiangbin Zhang and Ms Samantha Tang continue are our Designated Person and Deputy respectively for our Child Protection Policy, and Ms Juan Zhou and Ms Min Deng for the Faith, Hope and Love Congregation.
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Registered number: 5382046
A data protection policy was approved by the Board of Directors on 21 July 2018 and adopted by the members meeting on 29 July 2018. Sub-committee was set up by the Board of Directors, with nominees from the deacons: Ms Maggie Cheng (Coordinator, being Secretary of the Board of Directors,) Mr Stephen Kwan, Ms Xiaoqing He and Rev Edward Wei (ex officio, being Chairman of the Board of Directors)
Related Parties
It is acknowledged that the charity was founded by an overseas charity organisation "Kowloon City Baptist Church, Hong Kong" (referred to as "KCBC"). We continue to enjoy their support although we have become totally independent from June 2017. We are especially grateful that we can continue to use their London Extension Centre at 27 Mossford Street, London E3 4TH
LCBC is also closely linked with the "Bow Baptist Church" (BBC) from the beginning, and we are grateful for their partnership and support, especially in allowing us to use their premises for many of our activities.
We became a member of London Baptist Association June 2017 and we have been learning to relate with other Baptist Churches in London.
Risk Management
Being fully aware of their responsibilities for risk assessment, the trustees are developing procedures for evaluating the risks associated with their operating plan activities, and also reviewing annually all insurances, office, fire and general safety, and terms and conditions of employment of staff. The intention is to develop a comprehensive risk assessment policy which will ensure that all important risks are evaluated so that appropriate action can be taken to mitigate these risks where necessary.
Reserves Policy
The trustees have established a policy whereby the unrestricted funds should be in a breakeven situation each year. The reserves in the unrestricted funds will be retained as unrestricted funds. On 31st March 2021, the unrestricted funds amounted to £303,204.
The trustees are comfortable with this level of unrestricted fund and are confident that this level of funding will be sustained in the foreseeable future.
Review of main events and future development
Obviously LCBC has been seriously affected by the situation in UK under covid-19.
We lost a member through covid-19 and many members lost close relatives. However we have managed to function, both our main congregation in Bow and our Faith, Hope and Love Congregation in Petts Wood. Financially we have managed without deficit for the financial year. LCBC have seen challenges and developments. The membership at the end of March 2021 was 84. Reverend Bing Li continues to serve as our Senior Pastor, and Mr Pun Ming Ip as Pastoral Worker, mainly responsible for our Faith, Hope and Love Congregation.
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Registered number: 5382046
All our meetings were either suspended or held online and that has caused very serious challenges. The business meetings like those for Ministry Group Leaders, Pastoral Workers and Deacons, Church Members, Faith, Hope and Love Congregation Core Group were held less regularly. The Sunday Worship for the two congregations were combined for a few weeks but separately again. The Sunday School meetings were combined. There were weekly, bimonthly and monthly meetings for fellowship and Bible Studies in both congregations on Tuesdays, Wednesdays, Thursdays, Fridays and Saturdays, and very occasionally larger meetings to celebrate Christmas, Chinese New Year, Moon Festival etc. One Baptismal Service was held in Easter.
Trustees Responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of LCBC‟s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:-
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select suitable accounting policies and consistently apply them;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable Accounting Standards have been followed subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that LCBC will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of LCBC and which enable them to ensure that the financial statements comply with the relevant legislation and the trust deed. They are responsible for safeguarding the assets of LCBC and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Independent Examiners
A resolution to appoint Mr Zongqi Du as independent examiners of London Chinese Baptist Church was approved by the members at an Annual General Meeting at the last Annual General Meeting held on 6 December 2020.
This report was prepared by the Chairman, based on the reports presented by himself as Chairman and the Minister-in-charge at the last AGM, and signed by him on behalf of the Board.
______ Reverend Edward Wei Chairman/Director
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Registered number: 5382046
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF London Chinese Baptist Church
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity‟s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust‟s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity‟s gross income do not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants (ACCA).
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a „true and fair‟ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Zongqi Du FCCA Membership No. 1486249 10 Hillbeck Grove Middleton Milton Keynes MK10 9JJ
20 November 2021
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Registered number: 5382046
Statement of Financial Activities for the year ended 31 March 2021
| Unrestricted Funds Notes Incoming resources Voluntary gifts and donations 2 Support costs 3 Net Operating Surplus/(deficit) Tax on profit on ordinary activities 7 Net movement of funds for the period |
2021 £ 90,637 (76,847) 13,790 - _____13,790 |
2020 £ 110,657 (117,948) |
|---|---|---|
| (7,291) - |
||
| _____(7,291) |
The statement of financial activities included all gains and losses recognised in the period.
All incoming resources and resources expended derived from continuing activities.
The statement of financial activities complied with the requirements for an income and expenditure account under the Companies act 2006.
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital )
Balance Sheet
As at 31 March 2021
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Current assets | £ | £ | |||
| Debtors | 4 | 0 | 1,156 | ||
| Cash at bank and in hand | 303,204 | 288,258 | |||
| -------------- | ------------ | ||||
| 303,204 | 289,414 | ||||
| Creditors: amounts falling due | |||||
| Within one year | 5 | (0) | (0) | ||
| --------------- | ------------ | ||||
| Net current assets | 303,204 | 289,414 | |||
| ---------------- | ------------- | ||||
| Net assets | 303,204 | 289,414 | |||
| ========= | ======== | ||||
| Funds and reserves | |||||
| Unrestricted reserves | 6 | 303,204 | 289,414 | ||
| ---------------- | ------------- | ||||
| Shareholders’ funds | 303,204 | 289,414 | |||
| ========= | ======== |
The directors are satisfied that the company ls entitled to exemption from the requirement to obtain an audit under section 477of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions In Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Rev. Edward Wei
Director
Approved by the members at the AGM on 12 December 2021
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital )
Notes to the Accounts
for the year ended 31 March 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Statement of Recommended Practice (Accounting and Reporting by Charities issued in 2005).
Cashflow Statement
The company has taken advantage of the exemption from preparing a cash flow statement provided by FRS 1 "Cash flow statements" (revised 1996) as it qualifies as a small company.
Incoming resources
Income represents the total value of donations and gifts received by the company.
Volunteers and donated services and facilities
The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the trustees' annual report.
Resources expended
Charitable expenditure, support costs and administration costs comprise direct expenditure attributable to the charitable objective or activity. 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 listed separately on page 12.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Funds
Unrestricted funds are those funds, which can be used at the Trustees' discretion. Restricted Funds are mainly funds whose purposes have been restricted by the donor. As at 31 March 2018 there was no restricted funds held by the charity.
Value Added Tax
The Charity is not registered for VAT and accordingly, where applicable, all costs and expenditure incurred are shown inclusive of VAT.
| 2 Incoming resources Offertory, gifts & donations Tax rebates Interest received |
2021 £ 90,533 0 104 90,637 |
2020 £ 101,490 8,793 374 110,657 |
|
|---|---|---|---|
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London Chinese Baptist Church
( A company limited by guarantee and not having share capital ) Notes to the Accounts
for the year ended 31 March 2021
| 3 Support costs Employee/volunteer costs: Premises costs: General administrative expenses: Activities costs 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Other taxes and social security costs 6 Funds and reserves At 1 April 2020 Surplus for the year At 31 March 2021 |
2021 £ 61,508 11,833 1,001 2,505 76,847 2021 £ 0 2021 £ 0 2021 £ 289,414 13,790 303,204 |
2020 £ 78,497 17,418 7,567 14,466 |
2020 £ 78,497 17,418 7,567 14,466 |
||
|---|---|---|---|---|---|
| 117,948 | |||||
| 2020 £ 1,156 2020 £ 4,633 |
|||||
7 Taxation
The company is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes.
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London Chinese Baptist Church ( A company limited by guarantee and not having share capital ) Detailed profit and loss account for the year ended 31 March 2021
| Support costs Employee/volunteer costs: Wages and salaries Pensions Temporary staff and recruitment Staff training and welfare Travel and subsistence Premises costs: Rent Rates and utilities General administrative expenses: Telephone and fax Postage, stationery and printing Subscriptions Insurance Repairs and maintenance Sundry expenses Activities costs Fellowships, seminars & others activities |
2021 £ 57,394 3,324 0 790 0 61,508 10,100 1,732 11,832 0 0 388 823 0 178 1,389 2,118 2,118 76,847 |
2020 £ 78,497 926 0 461 3,339 |
|||
|---|---|---|---|---|---|
83,223 |
|||||
| 17,418 2,741 |
|||||
20,159 |
|||||
| 255 1,778 388 775 4,256 502 |
|||||
7,567 |
|||||
14,079 |
|||||
14,079 |
|||||
| 117,948 |
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