## **Trustees’ Annual Report for the period**
**From 01/05/2022 Period start date To 30/04/2023 Period end date Charity name: CORNER STONE (KOREAN) CHURCH**
## **Charity registration number:1121157**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**Christian church**|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|**The advancement of the Christian**
**Religion by the proclamation and**
**furtherance of Bible to the public.**|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**Trustees confirm awareness of this**|
**Additional information (optional)** You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
SORP reference Summary of the main Para 1.20 achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.
## **Additional information (optional)** You may choose to include further statements where relevant about:
||||
|---|---|---|
|Achievements against
objectives set|Para 1.41||
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**Income - £ 39,452**
**Spending - £ 42,817**
**Income breakdown – Donations and**
**legacies - £ 39,452**
**The employee payroll – total amount - £**
**10,800**|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**Only reserves to be held will be**
**sufficient cash in the bank to cover 3**
**months of over head costs, mainly**
**consisting of rent and wages**|
|Amount of reserves held|Para 1.22|**Cash at bank £5,000. Reserves of -**
**£39,205**|
|Reasons for holding zero
reserves|Para 1.22|**N/A**|
|Details of fund materially in
deficit|Para 1.24|**Unrestricted funds is in deficit. The main**
**reason being the initial investment made**
**by the governor into the organisation at**
**inception in 2007 totalling £37,000.**|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**No uncertainties regarding continuing**
**as a going concern**|
**Additional information (optional)** You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Trust deed**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Unincorporated association**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Elected through committee**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
||||
|---|---|---|
|Policies and procedures
adopted for the induction
and training of trustees|Para 1.51||
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
|Relationship with any related
parties|Para 1.51||
|Other|||
## **Reference and Administrative details**
|Charity name|CORNER STONE (KOREAN) CHURCH|
|---|---|
|Other name the charity uses||
|Registered charity number|1121157|
|Charity’s principal address||
|||
**Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||OONSOON PARK||Wholeyear||
||KUMCHUL PARK||Wholeyear||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
## – Corporate trustees names of the directors at the date the report was approved
**Director name N/A**
Name of trustees holding title to property belonging to the charity
|**Trustee name**|**Dates acted if not for whole year**||
|---|---|---|
|**N/A**|||
||||
||||
||||
||||
||||
## **Funds held as custodian trustees on behalf of others**
Description of the assets N/A held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
|**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**|||
|---|---|---|
||JOONBUM PARK||
||
SECRETARY||
||21/06/2024||
||21/06/2024||
Registered number 06219161
Corner Stone (Korean) Church
Income and Expenditure Account
30 April 2023
## **Corner Stone (Korean) Church Registered number: 06219161 Trustee's report**
The trustees present their annual income and expenditure account for the year ended 30 April 2023.
The board of trustees are satisfied with the performance of the charity during the year and the position at 30 April 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfill its obligations.
## **Name, registered office and constitution of the charity;**
The full name of the charity is Corner Stone (Korean) Church.
The legal registration details are :-
Date of incorporation : 19 April 2007 Registered Office : 13 Approach Road London SW20 8BA Charity registration number : 1121157
## **Principal activities**
The members of the Board of Trustees of the Charity during the year ended 30 April 2023. were :-
K C Park Rev O S Park
This report was approved by the board on 31 January 2024 and signed on its behalf.
K C Park Trustee
1
## **Corner Stone (Korean) Church**
## **Independent examiner's report on the accounts**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our responsibility to;
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to our attention.
## **Basis of independent examiner's statement**
Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination examination, no matter has come to our attention;
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
S Kwon KPY Phillips Young LLP Chartered Certified Accountants 13 Approach Road London UK SW20 8BA
31 January 2024
2
## **Corner Stone (Korean) Church Statement of Financial Activities For the year ended 30 April 2023**
## **Income and Expenditure Account as required by the Companies Act**
|**Incoming resources**
**Incoming resources from**
**generated funds**
Voluntary income
Activities for generating funds
Investment income
**Incoming resources from**
**charitable activities**
**Other incoming resources**
Note 3
**Resources expended (Note 4)**
**Costs of Generating Funds**
30/04/2023
Fundraising trading costs
Investment management costs
**Charitable activities**
**Governance costs**
**Other resources expended**
Gains and losses on revaluation of fixed assets
for the charity’s own use
Gains and losses on investment assets
**_Net movement in funds_**
**Total funds brought forward**
**_Total funds carried forward_**
**Other recognised** **gains/(losses)**
**_Total incoming resources_**
**_Total resources expended_**
**_Net incoming/(outgoing) resources before_**
**_transfers_**
**Gross transfers between funds**
**_Net incoming/(outgoing) resources before_**
**_other recognised gains/(losses)_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
39,452
-
-
39,452
27,650|
|---|---|
||39,452
-
-
39,452
27,650|
||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20,850
-
-
20,850
7,018
21,966
-
-
21,966
19,793
-
-
-
-
-|
||42,817
-
-
42,817
26,811|
||(3,364)
-
-
(3,364)
839|
||-
-
-
-
-|
||(3,364)
-
-
(3,364)
839|
||-
-
-
-
-
-
-
-
-
-|
||(3,364)
-
-
(3,364)
838|
||(28,192)
-
-
(28,192)
(29,030)|
||(31,556)
-
-
(31,556)
(28,192)|
3
## **Corner Stone (Korean) Church Balance Sheet For the year ended 30 April 2023**
|**Fixed assets (Note 6)**
Tangible assets
Investments
**_Total fixed assets_**
**Current assets**
Stock and work in progress
Debtors
(Short term) investments
Cash at bank and in hand
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 7)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year**
**Provisions for liabilities and charges**
**_Net assets_**
**Funds of the Charity**
Unrestricted funds
Restricted income funds
Endowment funds
**_Total funds_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
404 - - 404
539
- - - -
-
- - - -
-|
|---|---|
||404 - - 404
539|
||- - - -
-
- - - -
- - - -
-
8,703 - - 8,703
10,794|
||8,703 - - 8,703 10,794|
||40,664 - - 40,664
39,526|
||(31,961)- -(31,961) (28,732)|
|||
||(31,557) - - (31,557) (28,193)|
||- - - -
-
- - - -
-|
||(31,557)- -(31,557) (28,193)|
||31,556
31,556
(28,192)
-
-
-
-
-
-
- -
-|
||31,556 - - 31,556
(28,192)|
The trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities of 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.
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Signed by on behalf of all the trustees
K C Park
31 January 2024
4
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 1 Basis of preparation**
## **1.1 Basis of accounting**
These accounts have been prepared on the basis of historic cost in accordance with:
- Accounting and Reporting by Charities - Statement of Recommended Practice;
- and with the Financial Reporting Standards for FRS102;
- and with the Charities Act.
## **Note 2 Accounting policies**
## **Incoming resources**
|**Incoming resources**||
|---|---|
|**Recognition of incoming**|These are included in the Statement of Financial Activities (SoFA) when:|
|**resources**|• the charity becomes entitled to the resources;|
||• the trustees are virtually certain they will receive the resources; and|
||• the monetary value can be measured with sufficient reliability.|
|**Incoming resources with**|Where incoming resources have related expenditure (as with fundraising or contract income) the|
|**related expenditure**|incoming resources and related expenditure are reported gross in the SoFA.|
|**Grants and donations**|Grants and donations are only included in the SoFA when the charity has unconditional|
||entitlement to the resources.|
|**Tax reclaims on donations**|Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to|
|**and gifts**|which they relate.|
|**Contractual income and**|This is only included in the SoFA once the related goods or services have been delivered.|
|**performance related grants**||
|**Gifts in kind**|Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.|
||Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or|
||distributed by the charity.|
||Gifts in kind for use by the charity are included in the SoFA as incoming resources when|
||receivable.|
|**Donated services and**|These are only included in incoming resources (with an equivalent amount in resources|
|**facilities**|expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._|
||The value placed on these resources is the estimated value to the charity of the service or facility|
||received.|
|**Volunteer help**|The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.|
|**Investment income**|This is included in the accounts when receivable.|
|**Investment gains and losses**|This includes any gain or loss on the sale of investments and any gain or loss resulting from|
||revaluing investments to market value at the end of the year.|
|**Expenditure and liabilities**||
|**Liability recognition**|Liabilities are recognised as soon as there is a legal or constructive obligation committing the|
||charity to pay out resources.|
|**Governance costs**|Include costs of the preparation and examination of statutory accounts, the costs of trustee|
||meetings and cost of any legal advice to trustees on governance or constitutional matters.|
|**Grants with performance**|Where the charity gives a grant with conditions for its payment being a specific level of service or|
|**conditions**|output to be provided, such grants are only recognised in the SoFA once the recipient of the|
||grant has provided the specified service or output.|
|**Grants payable without**|These are only recognised in the accounts when a commitment has been made and there are no|
|**performance conditions**|conditions to be met relating to the grant which remain in the control of the charity.|
|**Support Costs**|Support costs include central functions and have been allocated to activity cost categories on a|
||basis consistent with the use of resources, eg allocating property costs by floor areas, or per|
||capita, staff costs by the time spent and other costs by their usage.|
|**Assets**||
|**Tangible fixed assets for use**|These are capitalised if they can be used for more than one year, and cost at least £500. They|
|**by charity**|are valued at cost or a reasonable value on receipt.|
|**Investments**|Investments quoted on a recognised stock exchange are valued at market value at the year end.|
||Other investment assets are included at trustees' best estimate of market value.|
|**Stocks and work in progress**|These are valued at the lower of cost or market value.|
5
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 3 Analysis of incoming resources**
||||**This year**|**Last year**||
|---|---|---|---|---|---|
||**Analysis**||**£**|**£**||
|**Voluntary income**|Donation etc.||39,452 24,803|||
|||||- -||
||Others (Bank interests on deposit account)|||- -||
||Others (JRS Grants)|||- 2,847||
|||**Total**|39,452 27,650|||
6
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 4 Analysis of resources expended**
|||||**This year**|**Last year**|
|---|---|---|---|---|---|
|||**Analysis**||**£**|**£**|
|**Charitable activities**||||-|-|
||Charitable activities|||20,850|7,018|
||||**Total**|20,850|7,018|
|**Governance costs**|Rent|||6,885|6,885|
||Donation|||-|-|
||Stationery and printing|||101|50|
||Equipment expensed|||515|678|
||Pensions|||55|-|
||Insurance|||239|236|
||Bank charges|||36|-|
||Repairs & maintenance|||-|76|
||Depreciation|||135|180|
||Accountancy fee|||800|800|
||Advertising and PR|||1,800|200|
||Temporary staff and|||-|-|
||recruitment|||||
||Travel & subsistence|||-|-|
||Motor expenses|||600|800|
||Wages & salaries|||10,800|9,888|
||Employer's NI|||-|-|
||Penalties|||-|-|
||Write offs/discounts|||-|-|
||||**Total**|21,966|19,793|
7
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 5 Paid employees**
## _**Please complete this note if the charity has any employees.**_
|**Fundraising**
**Charitable Activities**
**Governance**
**Other**
**Total**
**5.1 Staff Costs**
**Gross wages, salaries and benefits in kind**
**Employer’s National Insurance costs**
**Pension costs**
**Total staff costs**
**5.2 Average number of full-time equivalent employees in the year**
**The parts of the charity in which the**
**employees work**|**Fundraising**
**Charitable Activities**
**Governance**
**Other**
**Total**
**5.1 Staff Costs**
**Gross wages, salaries and benefits in kind**
**Employer’s National Insurance costs**
**Pension costs**
**Total staff costs**
**5.2 Average number of full-time equivalent employees in the year**
**The parts of the charity in which the**
**employees work**|||
|---|---|---|---|
|||**This year**
**£**|**Last year**
**£**|
|||10,800|9,888|
||||-|
|||55|-|
|||10,855|9,888|
|||||
|||**This year**
**Number**|**Last year**
**Number**|
||**Fundraising**|-|-|
||**Charitable Activities**|-|-|
||**Governance**|1|1|
||**Other**|-|-|
||**Total**|1|1|
8
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 6 Tangible fixed assets**
## **6.1 Cost or valuation**
|**Freehold land**
**& buildings**
**Other land &**
**buildings**
**Plant,**
**machinery and**
**motor vehicles**
**Fixtures,**
**fittings and**
**equipment**
**Payments on**
**account and**
**assets under**
**construction**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
Balance brought
forward
- - 6,941 - - 6,941
Additions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers *
- - - - - -
Balance carried
forward
- - 6,941 - - 6,941
**Basis**
RB
RB
RB
RB
RB
**Rate**
25%
Balance brought
forward
- - 6,402 - - 6,402
Depreciation charge
for year
- - 135 - - 135
Impairment provisions - - - - - -
Revaluations
- - - - - -
Disposals
- - - - -
0
Transfers*
- - - - - -
Balance carried
forward
- - 6,537 - - 6,537
Brought forward
- - 539 - - 539
Carried forward
- - 404 - - 404
**6.3 Net book value**
**6.2 Accumulated depreciation and impairment provisions**|**Freehold land**
**& buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery and**
**motor vehicles**
**£**|
**Fixtures,**
**fittings and**
**equipment**
**£**|**Payments on**
**account and**
**assets under**
**construction**
**£**|**Total**
**£**|
|---|---|---|---|---|---|---|
||-|-|6,941|-|-|6,941|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|6,941|-|-|6,941|
||-|-|6,402|-|-|6,402|
||-|-|135|-|-|135|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|0|
||-|-|-|-|-|-|
||-|-|6,537|-|-|6,537|
||||||||
||-|-|539|-|-|539|
||-|-|404|-|-|404|
9
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 7 Creditors and accruals**
## **7.1 Analysis of creditors**
|**7.1 Analysis of creditors**||
|---|---|
||**Amounts falling due**|
||**within one year**|
||**This year**
**Last year**|
||**£**
**£**|
|**Other taxes and social security costs**|(142) (80)|
|**Other creditors**|40,806 39,606|
|**Accruals and deferred income**|- -|
||**Total** 40,664 39,526|
10
Registered number 06219161
Corner Stone (Korean) Church
Income and Expenditure Account
30 April 2023
## **Corner Stone (Korean) Church Registered number: 06219161 Trustee's report**
The trustees present their annual income and expenditure account for the year ended 30 April 2023.
The board of trustees are satisfied with the performance of the charity during the year and the position at 30 April 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfill its obligations.
## **Name, registered office and constitution of the charity;**
The full name of the charity is Corner Stone (Korean) Church.
The legal registration details are :-
Date of incorporation : 19 April 2007 Registered Office : 13 Approach Road London SW20 8BA Charity registration number : 1121157
## **Principal activities**
The members of the Board of Trustees of the Charity during the year ended 30 April 2023. were :-
K C Park Rev O S Park
This report was approved by the board on 31 January 2024 and signed on its behalf.
K C Park Trustee
1
## **Corner Stone (Korean) Church**
## **Independent examiner's report on the accounts**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our responsibility to;
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to our attention.
## **Basis of independent examiner's statement**
Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination examination, no matter has come to our attention;
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
S Kwon KPY Phillips Young LLP Chartered Certified Accountants 13 Approach Road London UK SW20 8BA
31 January 2024
2
## **Corner Stone (Korean) Church Statement of Financial Activities For the year ended 30 April 2023**
## **Income and Expenditure Account as required by the Companies Act**
|**Incoming resources**
**Incoming resources from**
**generated funds**
Voluntary income
Activities for generating funds
Investment income
**Incoming resources from**
**charitable activities**
**Other incoming resources**
Note 3
**Resources expended (Note 4)**
**Costs of Generating Funds**
30/04/2023
Fundraising trading costs
Investment management costs
**Charitable activities**
**Governance costs**
**Other resources expended**
Gains and losses on revaluation of fixed assets
for the charity’s own use
Gains and losses on investment assets
**_Net movement in funds_**
**Total funds brought forward**
**_Total funds carried forward_**
**Other recognised** **gains/(losses)**
**_Total incoming resources_**
**_Total resources expended_**
**_Net incoming/(outgoing) resources before_**
**_transfers_**
**Gross transfers between funds**
**_Net incoming/(outgoing) resources before_**
**_other recognised gains/(losses)_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
39,452
-
-
39,452
27,650|
|---|---|
||39,452
-
-
39,452
27,650|
||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20,850
-
-
20,850
7,018
21,966
-
-
21,966
19,793
-
-
-
-
-|
||42,817
-
-
42,817
26,811|
||(3,364)
-
-
(3,364)
839|
||-
-
-
-
-|
||(3,364)
-
-
(3,364)
839|
||-
-
-
-
-
-
-
-
-
-|
||(3,364)
-
-
(3,364)
838|
||(28,192)
-
-
(28,192)
(29,030)|
||(31,556)
-
-
(31,556)
(28,192)|
3
## **Corner Stone (Korean) Church Balance Sheet For the year ended 30 April 2023**
|**Fixed assets (Note 6)**
Tangible assets
Investments
**_Total fixed assets_**
**Current assets**
Stock and work in progress
Debtors
(Short term) investments
Cash at bank and in hand
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 7)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year**
**Provisions for liabilities and charges**
**_Net assets_**
**Funds of the Charity**
Unrestricted funds
Restricted income funds
Endowment funds
**_Total funds_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
404 - - 404
539
- - - -
-
- - - -
-|
|---|---|
||404 - - 404
539|
||- - - -
-
- - - -
- - - -
-
8,703 - - 8,703
10,794|
||8,703 - - 8,703 10,794|
||40,664 - - 40,664
39,526|
||(31,961)- -(31,961) (28,732)|
|||
||(31,557) - - (31,557) (28,193)|
||- - - -
-
- - - -
-|
||(31,557)- -(31,557) (28,193)|
||31,556
31,556
(28,192)
-
-
-
-
-
-
- -
-|
||31,556 - - 31,556
(28,192)|
The trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities of 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.
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Signed by on behalf of all the trustees
K C Park
31 January 2024
4
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 1 Basis of preparation**
## **1.1 Basis of accounting**
These accounts have been prepared on the basis of historic cost in accordance with:
- Accounting and Reporting by Charities - Statement of Recommended Practice;
- and with the Financial Reporting Standards for FRS102;
- and with the Charities Act.
## **Note 2 Accounting policies**
## **Incoming resources**
|**Incoming resources**||
|---|---|
|**Recognition of incoming**|These are included in the Statement of Financial Activities (SoFA) when:|
|**resources**|• the charity becomes entitled to the resources;|
||• the trustees are virtually certain they will receive the resources; and|
||• the monetary value can be measured with sufficient reliability.|
|**Incoming resources with**|Where incoming resources have related expenditure (as with fundraising or contract income) the|
|**related expenditure**|incoming resources and related expenditure are reported gross in the SoFA.|
|**Grants and donations**|Grants and donations are only included in the SoFA when the charity has unconditional|
||entitlement to the resources.|
|**Tax reclaims on donations**|Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to|
|**and gifts**|which they relate.|
|**Contractual income and**|This is only included in the SoFA once the related goods or services have been delivered.|
|**performance related grants**||
|**Gifts in kind**|Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.|
||Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or|
||distributed by the charity.|
||Gifts in kind for use by the charity are included in the SoFA as incoming resources when|
||receivable.|
|**Donated services and**|These are only included in incoming resources (with an equivalent amount in resources|
|**facilities**|expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._|
||The value placed on these resources is the estimated value to the charity of the service or facility|
||received.|
|**Volunteer help**|The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.|
|**Investment income**|This is included in the accounts when receivable.|
|**Investment gains and losses**|This includes any gain or loss on the sale of investments and any gain or loss resulting from|
||revaluing investments to market value at the end of the year.|
|**Expenditure and liabilities**||
|**Liability recognition**|Liabilities are recognised as soon as there is a legal or constructive obligation committing the|
||charity to pay out resources.|
|**Governance costs**|Include costs of the preparation and examination of statutory accounts, the costs of trustee|
||meetings and cost of any legal advice to trustees on governance or constitutional matters.|
|**Grants with performance**|Where the charity gives a grant with conditions for its payment being a specific level of service or|
|**conditions**|output to be provided, such grants are only recognised in the SoFA once the recipient of the|
||grant has provided the specified service or output.|
|**Grants payable without**|These are only recognised in the accounts when a commitment has been made and there are no|
|**performance conditions**|conditions to be met relating to the grant which remain in the control of the charity.|
|**Support Costs**|Support costs include central functions and have been allocated to activity cost categories on a|
||basis consistent with the use of resources, eg allocating property costs by floor areas, or per|
||capita, staff costs by the time spent and other costs by their usage.|
|**Assets**||
|**Tangible fixed assets for use**|These are capitalised if they can be used for more than one year, and cost at least £500. They|
|**by charity**|are valued at cost or a reasonable value on receipt.|
|**Investments**|Investments quoted on a recognised stock exchange are valued at market value at the year end.|
||Other investment assets are included at trustees' best estimate of market value.|
|**Stocks and work in progress**|These are valued at the lower of cost or market value.|
5
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 3 Analysis of incoming resources**
||||**This year**|**Last year**||
|---|---|---|---|---|---|
||**Analysis**||**£**|**£**||
|**Voluntary income**|Donation etc.||39,452 24,803|||
|||||- -||
||Others (Bank interests on deposit account)|||- -||
||Others (JRS Grants)|||- 2,847||
|||**Total**|39,452 27,650|||
6
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 4 Analysis of resources expended**
|||||**This year**|**Last year**|
|---|---|---|---|---|---|
|||**Analysis**||**£**|**£**|
|**Charitable activities**||||-|-|
||Charitable activities|||20,850|7,018|
||||**Total**|20,850|7,018|
|**Governance costs**|Rent|||6,885|6,885|
||Donation|||-|-|
||Stationery and printing|||101|50|
||Equipment expensed|||515|678|
||Pensions|||55|-|
||Insurance|||239|236|
||Bank charges|||36|-|
||Repairs & maintenance|||-|76|
||Depreciation|||135|180|
||Accountancy fee|||800|800|
||Advertising and PR|||1,800|200|
||Temporary staff and|||-|-|
||recruitment|||||
||Travel & subsistence|||-|-|
||Motor expenses|||600|800|
||Wages & salaries|||10,800|9,888|
||Employer's NI|||-|-|
||Penalties|||-|-|
||Write offs/discounts|||-|-|
||||**Total**|21,966|19,793|
7
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 5 Paid employees**
## _**Please complete this note if the charity has any employees.**_
|**Fundraising**
**Charitable Activities**
**Governance**
**Other**
**Total**
**5.1 Staff Costs**
**Gross wages, salaries and benefits in kind**
**Employer’s National Insurance costs**
**Pension costs**
**Total staff costs**
**5.2 Average number of full-time equivalent employees in the year**
**The parts of the charity in which the**
**employees work**|**Fundraising**
**Charitable Activities**
**Governance**
**Other**
**Total**
**5.1 Staff Costs**
**Gross wages, salaries and benefits in kind**
**Employer’s National Insurance costs**
**Pension costs**
**Total staff costs**
**5.2 Average number of full-time equivalent employees in the year**
**The parts of the charity in which the**
**employees work**|||
|---|---|---|---|
|||**This year**
**£**|**Last year**
**£**|
|||10,800|9,888|
||||-|
|||55|-|
|||10,855|9,888|
|||||
|||**This year**
**Number**|**Last year**
**Number**|
||**Fundraising**|-|-|
||**Charitable Activities**|-|-|
||**Governance**|1|1|
||**Other**|-|-|
||**Total**|1|1|
8
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 6 Tangible fixed assets**
## **6.1 Cost or valuation**
|**Freehold land**
**& buildings**
**Other land &**
**buildings**
**Plant,**
**machinery and**
**motor vehicles**
**Fixtures,**
**fittings and**
**equipment**
**Payments on**
**account and**
**assets under**
**construction**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
Balance brought
forward
- - 6,941 - - 6,941
Additions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers *
- - - - - -
Balance carried
forward
- - 6,941 - - 6,941
**Basis**
RB
RB
RB
RB
RB
**Rate**
25%
Balance brought
forward
- - 6,402 - - 6,402
Depreciation charge
for year
- - 135 - - 135
Impairment provisions - - - - - -
Revaluations
- - - - - -
Disposals
- - - - -
0
Transfers*
- - - - - -
Balance carried
forward
- - 6,537 - - 6,537
Brought forward
- - 539 - - 539
Carried forward
- - 404 - - 404
**6.3 Net book value**
**6.2 Accumulated depreciation and impairment provisions**|**Freehold land**
**& buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery and**
**motor vehicles**
**£**|
**Fixtures,**
**fittings and**
**equipment**
**£**|**Payments on**
**account and**
**assets under**
**construction**
**£**|**Total**
**£**|
|---|---|---|---|---|---|---|
||-|-|6,941|-|-|6,941|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|6,941|-|-|6,941|
||-|-|6,402|-|-|6,402|
||-|-|135|-|-|135|
||-|-|-|-|-|-|
||-|-|-|-|-|-|
||-|-|-|-|-|0|
||-|-|-|-|-|-|
||-|-|6,537|-|-|6,537|
||||||||
||-|-|539|-|-|539|
||-|-|404|-|-|404|
9
**Corner Stone (Korean) Church Notes to the Accounts For the year ended 30 April 2023**
## **Note 7 Creditors and accruals**
## **7.1 Analysis of creditors**
|**7.1 Analysis of creditors**||
|---|---|
||**Amounts falling due**|
||**within one year**|
||**This year**
**Last year**|
||**£**
**£**|
|**Other taxes and social security costs**|(142) (80)|
|**Other creditors**|40,806 39,606|
|**Accruals and deferred income**|- -|
||**Total** 40,664 39,526|
10