REGISTERED COMPANY NUMBER.. 06764876 IEngland and Walès) REGISTERED CHARITY NUMBER.. 1131189 of the Twstees and udfted Financial Slalemgnts forthe Y•ar End8d 31 De¢em for LONDON KOREAN SCHOOL LIMITED Lee & Capit81 Partners Ltd Charted certif Accountants 25 South Lane New Malden Surrey 35HU
uylcnis of the Financial Stsicm<nis Page Report of th8 Trus1o8¥ 1 to 2 Independent Examineffs R8POrt St8lem8nl of Flnancial ActivJtie8 8al8nr* Sheet NoteB to tha Fln8n¢ld St8tern8nts 8 to 10 Deta Ststernent ofFlnanclal Act169
orl of ihe Trustees for the Y ar En 23 Thtr IFuslee5 ¥vho are al80 lireclors of the charity for the purposes of the Companie5 Act 21XJ6. present their rewt with th8 rin8n¢ial st8temènts of the charity for the y8ar endad 31 Decernb8r 2023. Tha Iru8t8es hav8 adopl8d tho provision8 of Accounting and Reporting by Charities.. Slalamenl of Re(¥Jmmended Pr8ctI £PFAlca lo charfkn'e5 preparing their ants in accordan Mth the Finanoal Reporting Starfarf applb in the UK and Repubitc of Ir¥lané IFRS 1021 leff8ralve 1 January 20191. OWECTIVES AND AcnviTIE3 Oblectlves and alms Pnncipal activities and obJectW8S The pfiLpaI acliwty of thè wmp8ny, whSch Is regls18red as 8 chalt86 organiz8kn.on undèr th8 charit5 Act 1960. 18 to provOè facilitres for education of the Ghildran of th8 Korean comTnunily In the Un[8d Kingdom. ThL% activity will conlinu8 in the foreseeable fvlure and governed by the merfK)randum and artsdes of ts (ornpany. There ha5 bgen no changg lo the eh8ritsbL companvs aclivlli•s durkng th8 year. Publlc bon•flt The school se8k8 to ¥owde benefft lo the pu1¢ In accordanct 1h tts widety drawn object5 c18U8es. In t8rm5 of anc511ary and educational aethlies and other associ818d activllles for the tyenofil of the communty. Th6 schocl has adayS been pr08Ctive and sought lo make 8 signifKanl contribulon for the benèfrt of the pu1C. FINANCIAL Review Th8 Trusleè8 Conser that the re8èlV88 8re 8uffi&nl to supportthe malnlanance ol curwnl rewJrce6. STRUCTURE. GOVERNANCE AND MANAGEMENT Govornlno docum•nt The charity 15 controlled by ils gDveming document. a d88d of Injst. and conslltutes 4 limited c¥Jrnpany, 1Smlted by guarantse, as defined by the C¢)rnpanio8 Act 2008. Rlsk managernent The Trustees h8ve a duty lo enIty and revbw Iho rtsks to whlch th• chsdty expo68d and lo 8nsur• approprlate ttffjtrols are in plac6 to prold6 roasonabb as8uranc8 ag8insl fraud 8nd error. Thtr Trust88 h8ve 88ses9ed Iht major risks lo %sthl¢h thè ch8rfty Is expos8d, and sallsnèd th81 systems ars In place to mlllgaiè exposu to Ihese rSsks. REFERENce AND ADMINISTRATIVE DETAIL8 Roglxtgred Company nurnber Cé764876 IEngF4nd and W818s1 R•gl•¢•r•d Charbty numb•r 1131189 Regl•tsred offi¢• Ch9ssinglon Communlty cege Garrison Lar Ch888Ingrn Surrey KT9 2JS Truite• D Bae Sports Coach R Park Eslale Aganl J 8 Kim Journalist H Ahn Tru81e I$19n9d 13.3.231 Ms J Klm H&ad teacher W T Ghim Managing Oirector S J Ki Company Dir8clor J E Kim Finanual Controller Y Lee Lecturer J H S80 Company Director J M Path Journ8li5t Y Yoon Hc4nem8ker (Bppoinlad 2.12.231 P8ge I
REFERENCE AND ADMIP418TrATIVE (YETAIL8 C•mp•ny 8•¢Tr•tsry Ind•p•nd•nt E¥amlJ Byur¥hun Lee Le• & Capital Pathern Ltd Chartej c Accounlant• 25 Soulh Lorwj Nw4 Makkn SurTey Kf3 SHU LuKlcth Kornkn w•• Ic67848781 on 3 D8b•r 2Q38 ar th• Ch•rlty under Ch¥rty nwnber 1131189. Apprv¥•J by rthrofthe tr*)•rd oflN•kn•on 18 S•pt•rnb•r2024•nd Ign on tt• t4hollby'. JlQm-
SCHoni LIMITE Indepondent ¢xarnin¢rfs report to the tru$t808 of LONDON KOREAN SCHOOL LIMITED (Yio Company? I r8POrt lo the charity trustees on my examination of th8 account8 of the Company for the ye8r ended 31 Decemb8r 2023. Responsibilitl?s and basis of r¢port As th8 charitys tru5t88s of th8 Comp8ny land 8180 Sls dir8¢tor5 for the purposas of (ximpany Lqwl you 8r8 responsible lor the pparatiOn of Ihe accounts in arwrlance with the requirements of the Cornpanles Act 20061'the 2006 ACYI. Having satisf myself that the accounls of the Company ar8 not roquired to b8 audited under Part 16 of tho 2006 Act a are eligib for indpp8ndenl examln&tion. I repNt In respect of my examination of your charitls accounts as carried out under Section 145 of the Chari118s Art 2011 Ilhe 2011 Acri. In c8rrying out my ex8rninalion I h8ve followed th8 Directions giv8n by the Charity Commission under Section 145151 Ibl of th8 2011 Act. Ind¢pend8nt •x4mln•rfs 8tstsmont I hav8 ¢OTnpleted rny 8xaminalk)n. I confinn that no matters hav8 comè to my attenllon Sn connectbn with tha ex8rninaWon giving me caus8 to bdleve.. 8ccountin9 records were nol kept In respect of Ihe Company a¥ requlréd by Sectbn 386 of lh• 2006 Act.. or th8 accounts do nol accord with tkK)sg records.. LY the gccounts do Th)t comply with th& accounting requlrem8nls of Sect1 396 of the 2QMX Act other than any requirom8nt that the acctyjnts givè a true and fair view which Is no¢ a mattar cOnsd as part of an Indewndenl examinalon.. or th8 accounts hav8 not 8 wepared in aceordan¢• wlh tho methods and pnd8$ of the Ststemont of R8coFnmend•d Practi¢8 for 8Ctounling 8nd r8porhng by ch8riliès lapplicable lo ch8ri1i8s praparing Ih8lr accounts in acwrdanee wrth Iho Fin8nciql Reportin9 Stand8rd applic8trAe In the UK and Republic of Irelbnd IFRS 10211. I have m ¢oncem$ and have come auoss no olh8r matters in cthnneclion with Ihe oxaminatbn to whlch 0tt8nlion Shou ba drawn In Ihls rgport In order to 8llBbkn 8 proper understanding of the 8ccounts lo r88chod. Byurrtjhun L8• L8e & Capital P8rtnern Ltd Charterod Corufied Accountants 25 South Lane Naw Maen Surrey KT3 SHU 18 September 2024 Page 3
IMI Staieineni of Finan eye ded ial AciiviL 20 31.12.23 Unrcsthcted fund 31.12.22 Toial ds Not88 INCOME AND ENDOWMENTS FROM Donation5 and legaci6s 50.184 60,929 Chafftabb a¢tlvltle$ Schcd foes 118,4Y 98,730 Other ineo 3.180 4,918 Total 171,798 164,577 EXPENDITURE ON Charltable actlvlti Educ8110na expens88 Managgmenl and admlnlstr81ion 141.233 35,463 130.927 24.612 Totsl 176,696 155,539 NET INCOMEiiexpENDITUREI 14,8981 9.038 RECONCILIATION OF FUNDS Totsl funds brought forward 103.737 94,899 TOTAL FUNDS CARRIED FORWARD 98,839 103,737 The notcs forn) part of IhE5e fiRinciHI 5tal¢rnts Page 4
31.12.23 Unrtstrl¢t¢d 31.12.22 T1 FLYED A&8ET8 Tangibki a880 4.820 CURRENT A88Efd C48h #t bank 99,917 CREDrroR8 Anh>Jnty fai4 orwj > 19181 11,0001 NETculIllfAs8ET1 94.854 98.9f7 TQTALA88ETI LE88 CURRENT UABIU71E8 98,839 103.737 NET A88eT8 103,n7 103,737 TOTAL FUND8 103,D7 dwftth oJmp•ny h erthd t• •x8ThWon frrffi •ulrt urthr Sth 4T1 oftht CornMnkn Act 20C6 for h >wr 31 c¢b•r2O23. momb8r8 hrn n¢X rn4ulr•J I 1pnY to obtsln an awjtt ol Its flnandal •l•tsm•nts for th• y••r •ndJ 31 Decombor2023 th Ko)rdantiry on 476 ofth? C¢xnp•n•A¢¢20Ce. •n8Urtng that the thor0 xynpany k•y nn9 that oJmFty llh S•Lcn• 387 01 Compan18• A¢t 26 and prepartng fln&n¢ial 8latwDents glva 8 fair vw ol t 81at• ol •ffairn ol th¢ L>Jmpany u ot tho eTrJ of eac fin8ndal 8n(l of tt8 lu1 or d•ficrt for •8ch flnandal yw In al>[darK• th Iho rnquir•rrnnts ol Sock)n8 394 ond 395 8rKI whl¢h othori#• ffffiply th the of Ihg CCfflpBn1 2eth Yen9 fin•noAI #w•ments. go faTS8 app1&bI9 to lh• chttrftabkn MpY. Th•w fln•nd•l 8tthrMnts hjve hen prepor•a in 80>)rdarK• 4Whxbl• kn t11t cyr wW¢o the rryTh•. Tt finonool otym¢rto htre 4)pprryfftl by lh¢ Boord offnJeu lor on 18 &ptomber 2024 •nd 14 on h b8h811 by, RP1t.Tw >0
LQNtX)N KO LIM ED Noics I J.Ihc Financi21 sleMents ACCOUNTING POLICIES easl8 of preparfng the finonelal 8tstements The financial Slalements of the charilable wmpany, whlch is a public ben8fit entNy under FRS 102, havs been prepared in accordan with the Charities SORP IFRS 1021 A¢wJntlng and Reporting by Charities.. Stalemenl of Recommended Pra¢iice applicable lo eharils prepang their 8ccotsnis in a¢cord8nee with the Finan¢ial Repoiting Standard applicable in the UK and Republic of Irdand IFRS 102118ffeclive 1 January 20191,, Finan81 Reporbng Standard 102 The Finandal Reportin9 Slandard applicae in th9 UK and Repu1¢ of Ir81and' and th6 Compani8S Act 2006. The fin9nd 3tatsm8nts have been prepared under the historical cost convenlKJn. Income All income 1$ reLyJgnisod in the St8tem8nl of Fln8n¢Kg1 Activth'es once Ihg charity ha8 tiornent to the fvnd8, tt Is proba8 that th? Irthme wlll bo recowg£1 and the amount can be m88$ured reliabty. ExpOndre Liabili1105 s rwnlsfjd as expendlbJr8 a$ soon as there 18 a legal or constru¢tiV8 obNoaiion commllting the charity to thai expènditure. 11 is probable that 8 transfer of gconomlc bonefit8 wlll bo required in s8ttlem6nl and tho amount of the obligabon can btr measured relisbly. Exp8Trdrtur8 is aCnIed for on an accruals basi8 and has boon dassified und8r hegdings that aggregate all co81 related to thè c818gory. Wh8r8 GOSts cannot be dire¢Uy attrlbutsd lo particular headlngs they have been al1rKal to a¢livili8s on a basis csiStenI with lh8 use ol r880urrns. Tanglble flx•d g1i0ts Depreciation 15 provldod 81 Ihe IJ0%n9 Annual rat88 In ordèr lo wrfta off the cost les8 98tSm8ted rgsldu81 v8lu• eaeh ass81 over its eslimaled usaful life. Plant & machinery.. 250 on ruCnG ba18nce ba$15 FlxbJr•J. fIngS and equiprnent.. 20% on reducin9 balance b861$ Taxatlon The charity h èxèmpl corporallon t8x on116 charttabl• a¢lNttkg8. Fund •ccountlno Unreslrlct8d funds c4n be usod In a¢cordart• wllh the charbtslle obloclwej qt the dlger•tbn of th8 trusl8e5. Re61dct•d fund8 can only be us4d for partleuLwr the1•d wrposos ¥thIn the objects of lh8 tharlty. $trkI4onS ari$8 when 6ptsclfted by tha d¢YOr when fvnd6 are rjed for partlcular restre purposeB. Further 8xplan8tion ofth• nature and purposg of tsath fund h Snduded In th¢ noles lo the financial statemtnl$. NET INCOMEIIEXPENOITUftEI N81 Ino)mell8xpendltur81 h ststed after charglntylcredMngl'. 31.12.23 31.12.22 D8preclolbTr- owned aB$et8 1.113 1,338 Page 6 tontinu¢d...
LONDON KORE SCHO MITED Note5 10 the Fi anci&l Si?i¢¥ncnis- co for the Y r Ended 31 Decemb 2023 TRUSTEES. REMUNERATION ANO BENÉFITS 31.12.23 31.12.22 TnJst88s' salall88 5,650 5.480 Trust•. expen4 There were no trusle8s' expenses paid for th& ye8r endod 31 December 2023 nor for th8 year ended 31 Decembgr2022. STAFF COSTS Thè sre90 monlhly numbor of em Joy•o1 during lh• year w88 as follow8.. Staff 31.12.23 37 31.12.22 29 No èmployees reIVed 8molumeftts In 8xce&8 01 £60.000. COMPARATIVES FOR THE $TATeMENT OF FINANCIAL ACTIVITIES Unrestricted fundti INCOME AND ENDOWMENTS FROM DonaiionB and1oga¢ios 60,929 Chablt•bl• acllvlll•• Schod l••i 98,730 Olhw Income 4,918 Total 1fj4,57T EXPENDITURE ON Charltsble a¢tlvltl•• Educatsonal exponsos Managemtnt and admlnbtrauon 130,927 24.612 Total 155,839 Nyf INCOME 9.038 RECONCILIATION OF FUNDS Totol funds broughtforward 94.699 TOTAL FUNDS CARRIED FORWIARD 103,737 Page 7
H(K)L Note 10 ihe Financial Stai¢Tncnis- ¢ontin for th£ Year Ended 31 DeLembcr 202 TANGIBLE FVXED ASSETS Fixtures Plant and machinery COST At 1 January 2023 Additions 4,058 278 13,071 17.129 278 At 31 December2tr23 4,336 13.071 17,407 DEPRECIATION At 1 January 2023 Chary8 for year 2,482 9,847 645 12.3D9 1.113 At 31 December 2023 2,930 10,492 13,422 NET BOOK VALUE At 31 De¢etnber 2023 1.406 2.579 3,9 At 31 Decemb8r 2022 1,596 3,224 4.820 CREDITORS.. AMOUNTS FALUNG DUE wrrHIN ONE YEAR 31.12.23 31.12.22 soc1 88¢urity arKY othertaxe8 A¢GNed oxpenses 1841 1.000 1,000 916 1,000 MOVEMENT IN FUNOS Net rnoirement ID futLd5 At 31.12.23 At 1.1.23 Unre$tricted funds General fvnd 103.737 14,8981 98,839 TOTAL FUNDS 103.737 14.8981 98.839 Nel rrx)vetnenl in fktnd8, in(ded in th8 above are as folbws.. Incoming resourc¢5 Resources exp¢Dded Moverncnt in funds UnreBMcted fund8 General fund 171.798 1176,8*1 14,8981 TOTAL FUNDS 171,798 1178,6961 14,8981 Page 8 continu¢d...
LO AN OOL ITED Noi¢.5 ro the Financial Stsicmeni5- conti for the YrEnd d 31 Dec¢mbei 2023 MOVEMENT IN FUNDS- contlnued Comparatlv•¥ for mo¥•m•nl In fund• Nei movement In fvnds At 31.12.?2 Al 1.1.22 Unrostrl¢tsd fund• General fund 94,699 9,038 103,737 TOTAL FUNDS 94.699 9,038 103,737 Comparatlvg not rnovgm8nt In fund8, Snduded In the abovo aro 88 follows.. Incoming resourc¢$ R¢source% expendeil Movemenr in fund$ Unr¢strlct•d fvndl General fund 164,$77 1155,5391 9.038 TOTAL FUNDS 164.577 1165.$391 9,038 A cuff8nl yg•r 12 monlhs anrl pdor ygar 12 month8 mbInd 85tn Is a8 follo.. Nel iovi'mL'nt in funds At 31.12.23 Ai 1.1.22 Unr•8trlctad lund• Genaral fund 94,899 4.140 98,839 TOTAL FUN08 94,699 4,140 98,839 A current year 12 month$ and or year 12 months Comne(j net movamani in fund8. Induded In the ats)ve are as folbws.. Incornirtg R¢V¢S expended MovcTncni in fvnds Unre8trf¢l•d lund• Gtrneral fund 336,375 1332,2351 4,140 TOTAL FUNDS 338.375 1332,2351 4,140 Page 9 corttinud..
LON OREAN CHOOL ITED Noie* 10 ihe Financial Ststements- continu .gr the Year F.nded 31 December 202 ULTIMATE PARENT COMPANY There is no U.mate (entrolling party. RELATED PARTY DISCLOSURES There were r81ated paty transactions for the year ended 31 D8Mber 2023. Page ID
LON REAN L LIMI D¢iailcd Siatemeni of FinanciA1Ville5 fot he Year En 31 Dccem 02 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donatlong and IBga¢lo8 Donations 50.184 60,929 Charhablo •ollvltlei School fees 118.434 98,730 0th8r In¢om• Other ineome 3,180 4.918 Totsl Inromlnq r••ourc 171,798 164,577 EXPENOITURE Charhablo •¢tlvltl•• Tru8t80$' 8818ne8 Wages Rant Insur8nca Telephone Printing, PoNt 8nd 8tatk)n8ry Advertisl Sundries Travel Inforrnalon and publicatlon Students & tutor5 W8Ware Sofvare Rapair5 & r8n8W818 Educaliongl supplles Semin3r Ent8rt81nrn8nl & glfts ant and machlnery Fixturas and fittings 8ank charges 5,650 93,816 33,304 1,27S 248 1,095 4.366 686 2,141 8,932 12,662 516 5,480 73.967 29,393 1,250 103 4,450 3.559 10,026 10,524 1,582 4,086 1.801 3.139 3,253 4,420 2,683 532 130 174,896 153,276 Support CO8t• Govomance c08t Ant8ncY 8nd1898l fe88 2,263 Total resources oxp8nd8d 176,696 155.539 Not loxpondlturo)Ilncom• 14,8981 9,038 Thi$ pa8¢ d0¢5 not fonn part of th¢ ststutory fjE)attcial siatcmcnts Pa8¢ 11