OpenCharities

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2021-12-31-accounts

0
O Restricted
Recommended
categories		 by activity 4 Unrestricted
funds		 income
funds		 Endowment
funds		 Total funds Prior year
funds
Income (Note 3) F01 F02 F03 F04 F05
Income and endowments from:
Donations
and legacies
Charitable
activities		 S01
S02		 146,854 146,854 127,647
Other trading
activities		 S03
Investments S04 29
Separate
material
item ofincome
S05
Other S06
Total
Expenditure
(Notes 6)		 S07 146,857 146,857 127,676
Expenditure
on:
Raising funds S08
Charitable
activities
Separate material expense item		 S09
S10		 92,691 92,691 84,897
Other S11
Total S12 92,691 92,691 84,897
Net income/(expenditure) before tax for
the reporting
period
Tax payable		 S13
S14		 54,166 54,166 42,779
Net income/(expenditure) after tax
before investment
gains/(losses)
Net gains/(losses)
on		 S15 54,166 54,166 42,779
investments S16
Net income/(expenditure)
Extraordinary
items		 S17
S18		 54,166 54,166 42,779
Transfers
between funds		 S19
Other recognised
gains/(losses):
Gains and losses on revaluation offixed assets for the
charity's
own use		 S20
Other gains/(losses) S21
Net movementin
funds		 S22 54,166 54,166 42,779
Reconciliation of
funds:
Total funds brought
forward
Total funds carried forward		 s23
s24		 140,292
194,458		 140,292
194,458		 97,513
140,292
u
8 ftestricted
Unrestricted income Endowment Total this Total last
ta funds funds funds year year
f. F F
Fixed assets F01 F02 F03 F04 F05
Intangible assets (Note 16) 801
Tangible assets (Note 14) ao2 4,710 4,710 4,710
Heritage assets (Note 16) ada
Investments (Note 17) aa4
Total fixed assets aaa 4,710 4,710
Current assets
Stocks (Note 18)
Debtors (Note 19) B07
Investments (Note 17.4)
Cash at bank and in hand
(Note 24)		 1 2,427 192,427 137957
Total current assets sto 1 2,427 192,427 137,957
Creditors: amounts falling due within
one year (Note 20} 2,879 194 2,873 2,375
it/et current assetal(liabilities) ar2 189,748 - 194 189,554 135,582
Total assets less current liabilities are 4, 4 140,292
Creditors: amounts failing due after
one year (Note 20)
Provisions for liabilities
Total net assets or liabilities ara 194,458 - 194 194,264 140,292
Funds ofthe Charity
Endowment funds (Note 27) ar?
Restricted income funds (Note 27) ala
Unrestricted funds ala 194,458 194,458 140,292
Revaiuation reserve a2rr
Fair value reserve 821
Total funds an 194,458 194,458 140,292

Recognition Recognition ofincome These are included
in the Statement of Financial Activities (SoFA) when:
~
the charity becomes entitled to the resources;
~
it is more likely than not that the trustees
will receive the resources;
~
the monetary
value can be measured
with sufficient
reliability.
Offsetting There has been no offsetting ofassets and liabilities,
or income and expenses,
unless
required
or permitted
by the FRS 102SORP or FRS 102.
Grants and donations
are only included
in the SoFA when the general
income recognition
criteria are met (5.10to 5.12FRS102SORP).
In the case ofperformance
related grants, income must only be recognised
to the extent
that the charity has provided the specified goods orservices as entitlement
to the grant
only occurs when the performance
related conditions are met (5.16FRS102SORP).
Legacies are included
in the SOFA when receipt is probable,
that is, when there has
Legacies been grant ofprobate, the executors have established
that there are sufficient assets
in
the estate and any conditions
attached to the legacy are either within the control ofthe
charity or have been met.
Government grants The charity has received government
grants
in the reporting
period
Gift Aid receivable
is included
in income when there is a valid declaration
from the donor.
Tax reclaims on Any Gift Aid amount
recovered
on a donation
is considered
to be part ofthat gift and		 is
donations and gifts treated as an addition to the same fund as the initial donation
unless the donor orthe
terms ofthe appeal have specified otherwise.
Contractual
performance		 income and
related		 This is only included
in the SoFA once the charity has provided
the related goods or
services or met the performance
related conditions.
grants
Donated goods Donated goods are measured
at fair value (the amount for which the asset could be
exchanged)
unless impractical
to do so.
The cost ofany stock ofgoods donated
for distribution
to beneficiaries
is deemed to be
the fair value ofthose gifts at the time oftheir receipt and they are recognised
on receipt.
in the reporting
period
in which the stocks are distributed,
they are recognised as an
expense at the carrying
amount ofthe stocks at distribution.
Donated goods for resale are measured
at fair value on initial recognition,
which is the
expected proceeds from sale less the expected costs ofsale, and recognised
in 'Income
from other trading
activities'
with the corresponding
stock recognised
in the balance
sheet.
On its sale the value ofstock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated
for on-going use by the charity are recognised as tangible fixed assets
and included
in the SoFAas incoming
resources when receivable.
Gifts in kind for use by the charity are included
in the SoFA as income from donations
when receivable.
Donated services and Donated services and facilities are included
in the SOFA when received at the value		 of
facilities the gift to the charity provided the value ofthe gift can be measured
reliably.
Donated services and facilities that are consumed
immediately
are recognised as income
with an equivalent
amount
recognised as an expense under the appropriate
heading		 in
the SOFA.
Support costs The charity has incurred
expenditure
on support costs.
Volunteer help The value ofany voluntary
help received is not included
in the accounts but is described
in the trustees'
annual
report.
Income from interest, This is included
in the accounts when receipt is orobable and the amount receivable		 can
Yes* No* N/a"
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/ *
Yes" No* N/a*
Yes* No* N/a*
Yes* No" N/a*
Yes" No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No" N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
royalties an d dividends be measured
reliably.
Income from membership Membership
subscriptions
received
in the nature ofa gift are recognised
in Donations		 Yes* No" N/a*
subscrlptions and Legacies.
Membership
subscriptions
which gives a member the right to buy services or other		 Yes* No* N/a*
benefits are recognised as income earned
from the provision ofgoods and services as
income from charitable
activities.
Settlement
claims		 ofinsurance Insurance
claims are only included
in the SoFA when the general
income recognition
criteria are met (5.10to 5.12FRS102SORP) and are included as an item ofother		 Yes* No* N/a*
income
in the SoFA.
Investment
losses		 gains and This includes
any realised or unrealised
gains or losses on the sale ofinvestments
and
any gain or loss resulting
from revaluing
investments
to market value at the end ofthe		 Yes* No* N/a*
year.
2.3 EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised where
it is more likely than not that there isa legal or
constructive
obligation
committing
the charity to pay out resources
and the amount ofthe		 Yes* No* N/a*
obligation
can be measured
with reasonable
certainty.
Governance
costs		 and support Support costs have been allocated
between governance
costs and other support.
Governance
costs comprise
all costs involving
public accountability
ofthe charity and its		 Yes* No* N/a*
compliance
with regulation
and good practice.
Support costs include central functions
and have been allocated to activity cost
categories on a basis consistent
with the use ofresources, eg allocating
property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.		 Yes* No* N/a*
Grants with performance Where the charity gives a grant with conditions
for its payment
being a specific level of
conditions service or output to be provided,
such grants are only recognised
in the SoFA once the		 Yes* No" N/a*
recipient ofthe grant has provided the specified service or output.
Grants payable without Where there are no conditions
attaching
to the grant that enables the donor charity to
performance conditions realistically
avoid the commitment,
a liability for the full funding
obligation
must be		 Yes* No* N/a*
recognised.
Redundancy cost The charity made no redundancy
payments
during the reporting
period.		 Yes* No* N/a*
Deferred income No material
item ofdeferred
income has been included
in the accounts.		 Yes* No* N/a"
Creditors The charity has creditors which are measured
at settlement
amounts less any trade
discounts		 Yes* No* N/a*
Provisions for liabilities A liability is measured
on recognition
at its historical cost and then subsequently
measured
at the best estimate ofthe amount
required to settle the obligation at the		 Yes* No" N/a*
reporting
date
Basic financial
instruments		 The charity accounts for basic financial
instruments
on initial recognition as per
paragraph
10.7FRS102SORP. Subsequent
measurement
is as per paragraphs
11.17
to 11.19,FRS102SORP.		 Yes" No* N/a"
2.4ASSETS
Tangible fixed assets for These are capitalised
ifthey can be used for more than one year, and cost at least
use by charity Yes* No* N/a*
They are valued at cost.
The depreciation
rates and methods
used are disclosed
in note 14.
Intangible
fixed assets		 The charity has intangible
fixed assets, that is, non-monetary
assets that do not have
physical substance
but are identifiable
and are controlled
by the charity through
custody		 Yes* No* N/a*
or legal rights.
The amortisation
rates and methods
used are disclosed
in note 15.
They are valued at cost. Yes* No* N/a*
Heritage assets The charity has heritage assets, that is, non-monetaiy
assets with historic, artistic,
scientific, technological,
geophysical
or environmental
qualities that are held
and
maintained
principally
for their contribution
to knowledge
and culture.
The depreciation		 Yes* No* N/a*
rates and methods
used as disclosed
in note 16.
Yes" No* N/a*
They are valued at cost.
Fixed asset investments
in quoted shares, traded bonds and similar investments
are
Investments valued at initially at cost and subsequently
at fair value (their market value) at the year
end. The same treatment
is applied to unlisted
investments
unless fair value cannot be		 Yes* No* N/a*
measured
reliably
in which case it is measured
at cost less impairment.
Investments
held for resale or pending
their sale and cash and cash equivalents
with a		 Yes* No* N/a*
~ ~ ~ ~ ~
Note 3 Income
Restricted
Analysis ofincome Unrestricted
funds		 income
funds		 Endowment
funds		 Total funds Prior year
R
Donations Donations and ifts 132,347 132,347 115,534
and legacies: Gift Aid 14,507 14,507 12,113
Le acies
General grants provided by government/other
charities
Membership subscriptions and sponsorships
which are in substance donations
Donated goods, facilities and services
Other
Total 146,854 146,854 127,647
Charitable
activities:
Other
Total
Other trading
activities:
Other
Total
income from Interest income 29
investments: Dividend income
Rental and leasin income
Other
Total 29
Separate
material item
ofincome
Total
Other: Conversion ofendowment funds into income
Gain on disposal of a tangible fixed asset held
for charit 's own use
Gain on disposal ofa programme related
investment
Royalties from the exploitation of intellectual
ro ert ri hts
Other
Total
TOTAL INCOME 146,857 146,857 127,676
Other information:
All income in the prior year was unrestricted except for:
(please provide description and amounts)
Not A iicable
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Not A licable
Where any endowment fund is converted into income in the
prior period, please give the reason for the conversion.
Note 6
Expenditure		 Note 6
Expenditure		 Note 6
Expenditure		 Note 6
Expenditure
This year Last year
Restricted Restricted
Unrestricted income Endowment Unrestricted income Endowment
Analysis funds funds funds Total funds funds funds funds Total funds
Expenditure
on raising funds:
Incurred
seeking donations
Incurred
seeking legacies
Incurred
seeking grants
Operating
membership
schemes		 and social
lotteries
Staging fundraising
events
Fudraising
agents
Operating
charity shops
Operating
a trading
company		 undertaking
non-charitable
tradin
activi
Advertising,
marketing,
direct		 mail and
publicity
Start up costs incurred
in generating		 new
source offuture income
Database development
costs
Other trading
activities
Investment
management
costs:
Portfolio management
costs
Cost of obtaining
investment		 advice
Investment
administration
costs
Intellectual
property
licencing		 costs
Rent collection,
property
repairs and
maintenance
charges
Total expenditure
on raising		 funds
Expenditure
on charitable activities:
Religious
Education
Social Support
Community
Projects
Gnovernnce
Costs		 74,873
6,360
2,870		 71,946
9,610
1,235
Total expenditure
on charitable		 activities 8,588
92,691		 2,106
84,897
Separate material
item ofexpense
Total
Other
Total other expenditure
TOTAL EXPENDITURE 92,691 Cross add e
Analysis Analysis ofexpenditure on charitable activities
This year Last year
Activity or programme Activities
undertaken
directly		 Grant
funding
of
activities		 Support
Costs		 Total this
year		 Activities
undertaken
directly		 Grant
funding
of
activities		 Support
Costs		 Total last
year
Activit 1
Activit 2
Other
Total

This year Last year
E
Independent
examiner's
fees		 1,000 1,000
Assurance
services other than independent		 examination
Tax advisory fees
Other fees (for example: financial advice, consultancy, accountancy services) paid 1,060 1,060
to the independent
examiner

11.2Average head count in the year 11.2Average head count in the year 11.2Average head count in the year This year
Number		 Last year
Number
The parts ofthe charity in which the
employees work
Total
Please complete ifan ex-gratia payment is made.
Please explain the nature ofthe This year
payment
Not Ap licable
Last year
Not Applicable
Please state the legal authority or This year
reason for making the payment
Not Applicable
Last year
Not Applicable
This year Last year
Please state the amount ofthe payment (or value of any waiver of
a right to an asset)

Total amount of payment
The nature ofthe payment (cash, asset
etc.)
The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or
termination
payments
This year Last year
This year Last year
Not Applicable Not A plicable

13.1Analysis ofgrants 13.1Analysis ofgrants 13.1Analysis ofgrants paid (included in cost ofcharitable activities)
Grants to Grants to
Analysis institutions individuals Support costs Total
Activity or project
1
Activit or ro'ect2
Activit or ro'act 3
Activit or ro'ect4
Total

Please provide Please provide
Ny charity has made grants toparticular institutions that are material in Yes details of charity's
the context ofits grantmaking. Details ofthe institution supported, VRL.
purpose ofthe grant and total
charity's
web site.		 paid to each institution is available on the No Provide details
below
Names of institution Purpose Total amount
grants
paid		 of
E
United
Kingdom		 Missionary support 2,880
Burkino Faso Missionary support 720
Greece Missionary support 720
Ukraine Missionary support 720
Lebanon Missionary support 720
Total grants toinstitutions in reporting period 5,760
Other unanalysed
grants
TOTAL GRANTS PAID 5,760
Last year: year:
13.3Analysis ofgrants paid (included in cost ofcharitable activities)
Grants to Grants to
Analysis institutions individuals Support costs Total
E
Activit or ro'ect 1 UK Pastors 6,730.00 6,730.00
Activit or ro'ect2 Burkino Faso 720.00 720.00
Activit or ro'ect3 Greece 720.00 720.00
Lebanon 720.00 720.00
Activit or roect4 720.00 720.00
Total 9,610 9,610

Note 14 Tangible fixed assets Tangible fixed assets Tangible fixed assets
Please complete this note ifthe charity has any tangible fixed assets
14.1 Cost or valuation
Freehold
land &
buildings		 Other land &
buildings		 Plant, machinery
motor vehicles		 and Fixtures, fittings
equipment		 and Total
At the beginning of 4,710 4,710
the year
Additions
Revaluations
Disposals
Transfers *
At end ofthe year		 4,710 4,710
14.2Depreciation and impairments
"*Basis SLor RB (Straight SLor RB SLor RB SLor RB SLor RB
Line or Reducing
Balance)
**Rate 0%
At beginning
of		 the
year
Disposals
Depreciation
Impairment
Transfers*
At end ofthe year
14.3Net book
Net book value		 value
at the		 4,710 4,710
beginning
ofthe year
Net book value at the		 4,710 4,710
end ofthe year

Amounts falling due Amounts falling due after falling due after
within one year more than one year
This year Last year This year Last year
Accruals for grants payable
Bank loans and overdrafts
Trade creditors
Payments
received on		 account for contracts
or performance-related grants
Accruals and deferred income 1,750 1,750
Taxation and social security 252 252
Other creditors 677 373
Total 2,679 2,375

This year Last year
Please explain the reasons
why income is
deferred.
Movement in deferred income account This year Last year
Balance at the start ofthe reporting period
Amounts
added
in current period
Amounts
released to income from		 previous periods
Balance at the end ofthe reporting period
Note 24
Cash at bank and		 in hand
This year Last year
Short term cash investments (less than 3 months maturity date)
Short
Cash		 term deposits
at bank and on hand		 192,427 137,957
Other
Total		 192,427 137,957
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Note 27 Charity funds (cont) Charity funds (cont)
27.3 Transfers between funds
This year Not Applicable
Reason for transfer and where endowment is converted to income, Amount
legal power for its conversion
Between unrestricted and
restricted
funds
Between endowment and
restricted
funds
Between endowment and
unrestricted
funds
Last year Not Applicable
Reason for transfer and where endowment is converted to income, Amount
legal power for its conversion
Between unrestricted and
restricted
funds
Between endowment and
restricted
funds
Between endowment and
unrestricted
funds
27.4 Designated funds
This year Not Applicable
Planned
use		 Purpose ofthe designation Amount
Last year Not Applicable
Planned
use		 Purpose ofthe designation Amount

Amounts paid or benefit value
Legal authority (eg Remuneration Pension Redundancy Other TOTAL
Name oftrustee order, governing contribution (including
document) loss of
office)lex
r
i

SORP reference
Summary of the purposes of Para 1.17 To worship
God within the Presbyterian
faith.
the charity as set out in its To
develop
religious
education
for
Korean
governing document speaking congregation
in and around
London.
To provide
a help network
for underprivileged
Koreans
in The U.K.
To support
Korean
community
projects
in the
UK, Europe and Korea.
To provide financial support for overseas
Christian
missions
Summary
ofthe main
activities
in relation to those		 Para 1.17and
1.19		 Provision
of quarterly
financial
support
for
overseas
Christian
missions
in Ukraine, Greece.
purposes for the public Korea, Cambodia
and Burkina Faso.
benefit,
in		 particular, the
activities, projects or
services identified
in
accounts.		 the Organisation
of religious
education
and church
and sport activities for younger members ofthe
congregation.
Delivery
of financial
aid
and
scholarships
to
underprivileged
Koreans in the UK and Korea.
Statement confirming Para 1.18 The trustees
have had regard to the guidance
whether the trustees have issued by the Charity Commission
on Pubic
had regard to the guidance
issued
by the Charity
Commission
on public		 Benefit. No trustee
is receiving any benefit or
salary from the charity.
benefit

SORP reference
For the year ended 31"December 2021the
charity recorded
an increase
in income of
f19,181,or 13.06%.This was due to a
Summary
ofthe main
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.		 Para 1.20 combination
offactors.
Tithes decreased
by F22,539
Thanksgiving
decreased
by E5,347.
General Offerings decreased
by -f1,337
Missionary
support decreased
by -524.
Gift Aid increased
byf2,394
Other income increased
by E1,482 and Interest
received decreased
by -f26.
The costs ofcharitable
activities increased by-
f7,794or9.18%over that of2020 due to:
Religious education costs increased
by -E2,927
Social support decreased
by -f3,250
Community
projects increased
by -f1,635
Governance
costs increased
by -f6,482
The combined effect ofthe increase
in income
off19,181and the increase
in costs of-
E11,387 has been to produce a surplus for the
year ended 31"December 2021off54,166
Despite the pandemic,
and no physical
congregations
from January 2021to March
2021,the Church was able to support
its
various charitable
activities and in particular:

2021
2020
Income f146,857 f127,676
Expenditure:
Religious Education
f 74,873 f71,946
Social Support
f
6,360 f 9,610
Community
Projects f
2,870 f 1,235
Governance
costs
f
8,588 f 2,106
Surplus / (Deficit) f 54,166
f42,779
Statement explaining the Para 1.22 The charity keeps on deposit sufficient funds to
policy for holding
reserves
stating
why they are held		 ensure that it can meet its commitments
to
meet annual
salaries and rent ofthe church
hall for about 12months
in advance.
Amount
of		 reserves held Para 1.22 f192,427
Reasons for holding zero Para 1.22 Not Applicable
reserves
Details offund materially in Para 1.24 Not Applicable
deficit
Explanation of any Para 1.23
uncertainties
about		 the Not Applicable
charity continuing
as a going
concern

Description
of charity's
trusts:
Type of governing
document		 Para 1.25 Trust Deed
How is the charity Para 1.25
constituted? Unincorporated Association
Trustee selection methods Para 1.25
including
details of any
constitutional
provisions e.g.		 2/3rds majority ofthe Church
election to post or name of
any person or body entitled
to appoint one or more
trustees

You ma choose to include choose to include choose to include further statements where relevant
about:		 where relevant
about:
Trustees are selected from the elders ofthe
church, and follow the Presbyterian system of
Policies
adopted		 and
for		 procedures
the induction		 Para 1.51 induction
and training
Presbyterian
manual		 as laid down
adopted from		 in the
the
and training oftrustees Presbyterian
Church		 ofSouth Korea.
The Church
is a member ofthe Presbyterian
Church of Korea and its pastors are selected
The charity's
structure
and		 organisational
any wider		 Para 1.51 from Presbyterian
seminaries
in the
South Korea.		 Republic of
network with which the
charity works
Relationship with any Para 1.51 None
related arties

Trustee name Dates acted ifnot for whole ear
N/A
Funds held as custodian Funds held as custodian trustees on behalf ofothers
Description
ofthe assets		 Not Applicable
held
in this capacity
Name and objects ofthe Not Applicable
charity on whose behalf the
assets are held and how this
falls within the custodian
charity's objects
Details of arrangements for Not Applicable
safe custody and
segregation
ofsuch assets
from the charity's
own
assets

Type of Name Address
adviser
Accounta R A Mitchell 8 Co Ltd 173Wainscott Road, Wainscott, Rochester, Kent, ME2
nts 4JX
Name of chief executive or names of senior staff members (Optional information)