Reglstered number 5382046 London Chinese Baptist Church (A company limited by guarantee and not having share capital) Report and Accounts 31 March 2024
London Chlnese Baptlst Church (A company limited by guarantee and not having share capital) Report and accounts Contents Company Informatlon Trustees, report Independent Examlnerfs report Statement of Flnancial Actlvities Balance sheet Notes to the accounts Schedule of Support costs
London Chinese Baptist Church (A company Ilmlted by guarantee and not havlng share capltal) Report and accounts Company Informatlon Dlre¢tors Reverend Edward Wel - Chalman Reverend Blng Ll Deacon Samson Ho Dr Yile Wu Reglstered number 5382046 Charfty number 1112334 Reglstored offlce 1 Payne Road, London, E3 2SP
London Chinese Baptist Church ( A company limited by guarantee and not having share capltal ) Registered number: 5382046 London Chlnese Baptist Church (LCBC) is a company limtted by guarantee governed by its Memorandum and Articles of Association dated 03 March 2005. It Is registered as a charity with the UK Charity Commlssion on 30 November 2005 and its charity number Is 1112334.lts main objects are to spread the Gospel of Jesus Christ and to advance all aspects of Christian Falth In accordance wlth the doctrinal basis stated in its Memorandum of Assoclation, primarfly. but not exdusively. among the Chinese in London and the surrourKling area. Corporate Govemance The Board of Directors decided to adopt the Calendar year as the Churth year and the latest Annual General Meeting was held on 1 December 2024 (hybrid, some attended via Zoom). We are grateful for the contribution of our Advisors, indudlng Dr Ollver Rlce (Pastor of Bow Baptist Church) and Pastor Yi Dai, apart myself (Reverend Edward Wei). The Board of Directors administers the chaiity. Mr Mun Choon Lee resigned from our finance team after many years. service. We have been rebuilding the team and succeeded with some difficulty. The current team indudes Ms Fan Zhang as overseer of our accounts, Mrs Rachel Dai, Ms Julie Go, and myself (Reverend Edward Wei) as member without a vote, together with two members of each congregation responsible for bookkeepinglcashier. We asked Ms Fan Zhang to audit our accounts and to appoint Mr Zongql Du as Extemal Independent Examiner for our accounts. Ms Maggie Cheng (until June 2023). Mr Yong Luo. and Dr Yile Wu continued as deacons until June 2024. With the pastoral workers, they will have oversight of the LCBC'S affairs on behalf of the Board, whilst the Board retains the direct responsibilty for Church Finance (through the Church Finance Team) and Human Resource (Staff Employment) matters. They guide the Church Ministy Groups to execute the day to day functions. The day to day affairs are being run by the Ministy Gmups Leaders Team together with our Pastoral workers. Currently. its members are Reverend Bing Li, Mr Pun Ming Ip, myself, and Mr David Ip. Dr Yile Wu. Ms Maggie Cheng, Mr Robert Xiaobo Yang. Mr Xizhen Huang, Ms Xiaoqing He. Ms Sherry Teng and Ms Laura Xinzhu Yu. The Team usualty rneets once every two months, alternating with the bimonthly Members Meetings, and the tearn members are responsible for different ministries together with the Pastoral Team Outreath, Caring. General Chores, Children and Teens, Secretarial, Worship. Cashier and Fellowship Ministry Groups. The Faith. Hope and Love Congregation has set up a core team led by Reverend Bing Li and Pastor Pun Ming Ip are Ms. Fan Zhang. Mr. Yong Luo, Mrs Yvonne Ip, Ms Han Fan, Mrs. Rachel Dai, Ms. Elsa Chow, Ms. Julie Go, Ms. Jing Wang, and Mr. Sammy Leung. The Faith Hope Love congregation developed steadily and they are working to function more autonornously Concerning our Children and Teens ministry. we are member of the Thirtyone=eight (fomierfy CCPAS, the Churches. Child Protection Advisory Service) and it is the umbrella organisation to help us to administer ched(s required by the Disdosure and Barring Service (DBS). Mr Xiangbin Zhang and Ms Xinzhu Yu are our Designated Person for complaints and Deputy respectively for our Child Protection Policy, and Ms Juan Zhou and Ms Min Deng for the Faith, Hope and Love Congregation. Also, Mrs. Maggie Cheng and Mrs. Yvonne Ip are our Safeguarding Team to oversee the ongoing implementatts)ns of the Policy. A data protection policy was approved by the Board of Directors on 21 July 2018 and adopted by the members meeting on 29 Juty 2018. The sub<ommittee consists of Ms Maggle Cheng (Coordinator). Ms Xiaoqing He and Rev Edward Wei (ex officio, being Chairman of the Board of Directors).
London Chlnese Baptlst Church ( A company Ilmlted by guarantse and not having share capital ) Reglstered number: 5382046 Related Partles It is acknowledged that the charity was founded by an overseas charity organisatlon °Kowloon City Baptist Church, Hong Kong. (referred to as °KCBC°). We continue to enjoy thelr support although we have become totally independent from June 2017. We are espedally grateful that we can continue to use their London Extension Centre at 27 Mossford Street. London E3 4TH LCBC is also closely Ilnked with the "Bow Baptlst Church. (BBC) from the beglnnlng, and we are grateful for their parthershlp and suppor( especlally In allowing us to use their premlses for many of our aclivities. We became a member of London Baptlst Association on June 2017 and we have been leamlng lo relate with other Baptist Churches In London. We have also worked more dosety with the Chinese Overseas Christian Mission, especially in our students ministries. 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 temis 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 tsken to mitigate these risks where necessary. Roserves Policy The trustees have established a policy whereby the unrestricted funds should be in a break- even situation each year. The reserves in the unrestricted funds will be retained as unrestricted funds. On 31 st March 2024. the unrestricted funds amounted to £308,916. The trustees are comfortable with this level of unrestricted fund and are confident that th level of funding will be sustained in the foreseeable future. Review of maln events LCBC continues to recover from the effect of the covid-19. For the main congregation at Bow, we have resumed our normal Sunday activities including Worship Service. Sunday School, after-church sharing and prayer groups eto The number attending our Friday fellowship and Students Fellowship meetings have recovered. Other fellowship groups are held by zoom and slowly increased in participants because those living fvrther away can join in. For the Failh Hope Love congregation, there are Worship Service. Sunday School and afterurCh sharing and prayer meetings held at Petts Wood Methodist Church. as well as the communal activities on Wednesdays. There are other group meetings by zoom. We held our annual Retreat in May and there were a number of special events during the year. Future development The official membership at the last AGM was 104. 9 were baptised during the year.
London Chlnese Baptlst Church ( A company Ilmited by guarantee and not havlng sharo capltal ) Reglstered number.. 5382046 As we approached our twentieth annlversary. we were rerninded that our prlmarlly mlssion Is outreach. Loglstically we have a more mobile Chinese population for the region around our main congregation students. as well as graduates and young professlonal couples especially those worklng In banking and finance. We need to strengthen our evangelistic activltles. Many of those would get marrled and moved fvrther out to Kent In the area southeast of London. We started the Faith Hope Love congregation but we need to reach the Chinese elsewhere In the region. Hence we also need to build up our fulktime and voluntsry workers to equlp and care for them. Reverend Bing Ll contlnues to serve as our Senior Pastor, and Mr Pun Mlng Ip as Pastoral Worker, mainly responsible for our Faith, Hope and Love Congregatlon. We urgently need to recruit more Pastoral Workers. As a Church, we also have a share of the responsiblllty of sharing the love of Jesus worfdwide. A small team spent a week In the summer wlth members of another church on a short term mlssionary trip to Poland and was much encouraged. We should arrange more 8uch events towards establishing of our misslonary concem program. Trustees Responslbllltles Law applicable to charities in England and Wales requires the trustees to prepare financial statemenls for each financial year whlch give a true and falr vlew of LCBC'S financlal actlvltles during the year and of its financial position at the end of the year. In preparing financlal statements glving a true and fair view. the trustees should follow best practlce and:. select suitable accounting policies and consistently apply them.. make judgements and estimates that are reasonable and prudent state whether appllcable Accounting Standards have been followed subject to any material departures dlsdosed and explalned in the financial statements; prepare the tlnanclal statements on the golng concem basls unless It Is Inapproprlate to assume that LCBC wlll contlnue in business. The trustees are responsible for keeplng accountlng records whlch disdose wlth reasonable accuracy the financlal position of LCBC and whlch enable them to ensure that the financial statements comply with the relevant legislatlon 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 Irregularitles. Independent Examlners A resolution to appolnt Mr Zongqi Du as independ8nt examiner of London Chinese Baptist Churth accounts for 1 April 2023 to 31 March 2024 was approved by the members at an Annual General Meeting held on 3 December 2023. Thls report was prepared by the Chairman, based on the report presented by himself as Chaimian and the report from the Minister-in-charge at the last AGM. and signed by him on behalf of the Board. L>Wi Reverend Edward Wel
London Chinese Baptlst Church ( A company Ilmltad by guarantee and not havlng share capital ) Reglstered number: 5382046 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF London Chlnese Baptlst Church I report to the trustees on my examination of the accounts of the abova charity (Ihe Trusf) for the year ended 31 March 2024. Responslbllltles and basls of report As the charity's trustees. you are responsible for the preparation of the accounts In accordance with the requlrements of the Charitles Act 2011 ("the Act"). I report In respect of my examinatlon of the Trust's accounts carrled out under section 145 of the 2011 Act and in carying out my examlnation, I have followed all the applicable Direcllons glven by the Charlty Commlssion under section 145(5)(b) of the Act. Independent examlnerfs statement The charlty'8 gross Income do not exceed £250,000 and l am quallfied to undertake the examinatlon by being a qualified member of the Association of Chartered Certified Accountants (ACCA). I have completed my examination. I confimi thal no materfal matters have come to my attentlon In connection with the examlnation which gives me cause to believe that In, any matsrlal respecL' th8 accounting records were not kept In accordance with section 130 of the Charltles Act; or the accounts did not accord with the accounting records: or the accounts did not comply with the applicable requlrements 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 falrf vlew which 18 not a matter consldered as part of an Independent examination. I hav8 no concems and have come across no other matters In connectlon with the examination to which attention should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. Zongql Du, FCCA ACCA Membership No.1486249 10 Hillbeck Grove Middleton Milton Keynes MK10 9JJ 2P November 2024
London Chinese Baptlst Church ( A company Ilmlted by guarantee and not havlng share capital ) Registered number. 5382046 Statement of Financlal Actlvities for the year ended 31 March 2024 Notes 2024 2023 Unrgstrlcted Funds Incoming resources Voluntary gifts and donatlons 112,867 106,134 Support costs (120,025) (114,631) Net Operatlng Surplusl{defficit) (7.158) {8,497) Tax on profft on ordinary activities Net movement of funds for the perlod .158 8.497 The ststement of financial acbvithes induded all gains and losses recogriwl in the period. All incoming r&sources and resources expended derived from conllnuing actsvitses. The statement of finandal actsvItS complied with the requlr8ments for an Income and expenditure account under ts Companies Act 2006.
London Chlnese Baptlst Church ( A company Ilmlted by guarantee and not havlng share capltal ) Reglstered number: 5382046 Balance Sheet As at 31 March 2024 Noto$ 2024 2023 Currant assets Debtors Cash at bank and In hand 890 309.675 4,184 313,483 310.365 317.667 Credltors: amounts falllng due Wlthln ong year (1,450) (1,592> Not ¢urront a88•ts 308,915 316,075 Net a860ts 308,915 318,075 Fund8 and ro8erve8 Unrostslct8d raservos 308,915 316,075 Shareholder8, funds 308,915 316,075 The dlrectors are satlsfied that the companyls entltlad to exemptlon from th& raqulrement to obtaln an audltund8r8ectlon 477of the Companies Act2006. Members have not requlred the company to obtain an audlt In accordance wlth secllon 476 of the The dlreclors acknowledg8 thelr responslbllltles for complylng wlth the requlrements of the Companies Act 2006 wlth respect to accountlng records and the preparatlon of accounts. The a(xxwnts have been prepared In accordance with the provi8lons In Part 15 of the Companles Acl 2006 appllcable lo companies subject to the small companles reglme. Rev. Edward Wel Dlrector Approved by the members at the AGM on 1 st December 2024
London Chlnese Baptist Church ( A company limited by guarantee and not havlng share capltal ) Reglstered number: 5382046 Notes to the Accounts for the year ended 31 March 2024 1 Accountong policles Basls ofpreparatlon The accounts have been prepared under the hlstorfcal cost convenllon and In accordance wlth the Financial Reporting Stsndard for Smaller Entities (effectlve January 2015) and the Ststement of Recommended Practlce (Accountlng and Reportlng by Charitie8 issued Sn 2005). Cashflow Statsment The company has tsken advantage of the exempllon from preparlng a cash flow statement provlded by FRS 1 "Cash flow slatements" (revised 1996) as It qualifies as a small company. Incomlng rnsour Income r6pr6sents the totsl value of donations and glfts recelved by the company. Voluntaors and donated seNl¢es and fa¢llldes The value of services provided by voluntsers is not Incorporated Into th888 financlal statements. Further detalls of the contributlon made by volunteers can b8 found In the tru81ees' annual report. Resources •xpended Charftable expenditure, support costs arKI admlnlstration costs comprfse dlr8Ct exp8rKlllure attrlbutable to the charltabl8 obJectlv8 or acuvfty. Where costs cannot be attrlbuted, they have been apportloned to charitable objectiV85 or aclivitias accordlng to the tlme or resources spent on eath. Support costs are Ilsted separatety on page 12. nslons Contrlbutlons to deflned contrlbutlon plans are expensed In the perlod to whlth they relate. Funds Unrestrlcted fijnds are those furKls. whlch can be used at the Trustegs, dlscretlon. Restrlcted Funds are malnly funds whose purposes have been festricted by the donor. As at 31 March 2024 there was no reslrlcted furKls held by the charity. Value Added Tax The Charlty ts not reglstered for VAT arKI accordingly. ere 8pplScable. all costs and expendlture In(rred are shown indusEve of VAT. 2024 2023 2 InGomlng resources Offertory, glfts & donatlons Tax rebates Interest received 110,065 105,365 2 802 69 10
London Chlnese Baptlst Church ( A company limited by guarantee and not having share capltal ) Registered number: 5382046 Notes to the Accounts for the year ended 31 March 2024 3 Support costs 2024 2023 Employeelvolunteer costs PMIseS costs General administrative expenses Activities costs 70,633 69,194 19,533 21,689 3,516 3,412 26 2 2033 4 Debtors 2024 2023 other debtors 690 4,184 5 Credltoys: amounts falllng due wfthin one year 2024 2023 Other taxes and social security costs 1,450 1.592 6 Funds and reserves 2024 At 1 April 2023 316,075 Deficlt for the year <7,158) At 31 March 2024 308 915 7 Taxatlon The company is a registered charlty and Is potsntially exempt from taxation in respect of income and capltal galns recelved wlthln the cat8gorl8s covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Galns Act 1992 to the extent that such income or gains are applied to exdusively charitable purposes. 11
London Chinese Baptlst Church (A company limited by guarantee and not having share capital) Report and Accounts 31 March 2024 2024 2023 Support costs Employeelvolunteer costs: Wages and salaries Penslons Staff tralnlng and welfare Travel and subsistence 64,706 3,868 64,115 3,561 Premises costs: Rent Rates and utillties 17,542 17,304 General administrative expenses: Bank Charges Postage, stationery and prlnting Subscriptlons Insurance Repairs and malntenance Sundry expenses 169 958 338 419 1.591 41 171 1,422 388 450 Activities costs Fellowships. seminars & other activities 33 120 025 114631 12