CAMBRIDGE KOREAN CHURCH LTD IA Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 Company No. 6831723 Page l of8 CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 |CONTENTS|| |---|---| |COMPANY INFORMATION|3| |REPORT OF THE CHURCH DEACONS COMMITTEE
|4| |STATEMENT OF FINANCIAL ACTIVITIES|5| |BALANCE SHEET|6| |NOTES TO THE ACCOUNTS|7| |INDEPENDENT EXAMINERS REPORT|8| Page 2 of 8 CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 COMPANY REGISTERED OFFICE: 43 St Andrews Street CAMBRIDGE CAMBRIDGESHIRE CB2 3AR COMPANY REGISTERED NUMBER: 6831723 REGISTERED CHARITY NUMBER: 1131451 COMPANY BANKERS: BARCLAYS BANL PLC SIDNEY STREET CAMBRDIGE CHURCH DEACONS COURT REV SOONJO HONG (TRUSTEE) MRS HAE-SUN YIM (TRUSTEE AND TREASURE) MRS YOON WALKER MS HYERIN PARK MS JUNG OK SHIN MS JIHEON SONG MR BOHWAN SEO DR SOO YOUNG HAN MS JIEUN KWON MS MINJI PARK Page 3 of 8 CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 ## REPORT OF THE DEACONS ## CONSTITUTION The Cambridge Korean Church is incorporated as a company limited by guarantee not having a share capital (No 6831723) and a registered charity (No 1131451). The governing document of the Company is the Memorandum and Articles of Association. The church is a fully independent organisation and the church members’ meeting is the ultimate authority. The Church Members’ meeting appoints Church Deacons to the Church Deacons Court who act as a managing committee. ## OBJECTIVES The Cambridge Korean Church’s aims and objectives are to advance the Christian religion in particular among persons of the Korean race in Cambridge and the surrounding area and to spread the good news in the neighbourhood. ## REVIEW OF ACTIVITIES The Cambridge Korean Church provides religious service on every Sunday along with Children's Ministry. Although usual activities were partly affected by ongoing outbreak of Covid-19 during the year of 2021, the church occasionally holds, participates and supports local activities such as the International Missionary Convention, It Takes a City Project, and Mill Road Winter Festival. In addition, the church provides financial aids for neighbouring organisations for their mission as well as local charities. ## FINANCIAL REVIEW The church had an income of £ 47,388 (2021 - £ 41,601) for the year. Expenditure for the year amounted to £ 33,482 (2021 – 35,247), giving a surplus of £13,906 (2021 - surplus of £6,354). ## RESERVES POLICY The reserves policy is to hold at least three months expenditure in hand. We experienced a financial trouble which made the situation difficult to keep the policy. HS Yim Trustee 23 November 2023 . Page 4 of 8 ## CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 ## RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 ||Notes

RECEIPTS
Gifts and Offering
Other Income
TOTAL RECEIPTS
PAYMENTS
Pastoral Expenses
Church running expenses
Young Children & Youth work
Gifts
Fellowship & Conferences
Missionary Expenses
Miscellaneous
TOTAL PAID
NET RECEIPTS (PAYMENTS) FOR THE YEAR
FUNDS BROUGHT FORWARD (TAKEN ON AT
INCORPORATION)
GENERAL FUND AS AT 28THFEBRUARY 2023|
|2022/23 2021/22
£ £
47,388 41,601
0 ____ ___0
47,388 41,601
27,125 27,125
4,486 4,150
187 0
500 260
546 0
300 3,500
338 158| |---|---|---|---| ||||33,482 35,247| ||||13,906 6,354
46,361 32,455| ||||32,455* 26,101*| * Discrepancy in fund presents due to outstanding cash flow. Page 5 of 8 ## CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 STATMENT OF ASSETS AND LIABILITIES AS AT 28[TH] FEBRUARY 2023 |**Current Assets**
Bank
Cash in hand
**Current Liabilites**
Falling due within one year
General Unrestricted Fund|2022/23 2021/22
£ £
46,66532,455
0 0| |---|---| ||46,665 32,455
305 300| ||46,360 32,155| For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for: - 1) ensuring the company keeps accounting records which comply with Section 386; and - 2) preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company. Approved by the Church Deacons Court on 18 December 2022 _________________________ _______________________ SJ Hong, Trustee HS Yim, Treasurer Page 6 of 8 CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 NOTES TO THE ACCOUNTS ## 1) Accounting Policies - a) Basis of Accounting. The financial statements have been prepared in accordance with applicable accounting standards and the Charities SORP 2005 and in accordance with the Financial Reporting Standards for Small Entities (April 2008). - b) Funds. General unrestricted funds represent funds which are expendable at the discretion of the trustees in the furtherance of the objectives of the church. Such funds may be held in order to finance both working capital and capital investment. - c) Incoming Resource. Income has been accounted for on the basis of cash received. - d) Resources Expended. Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributable to one of the functional categories of resources used in the SOFA. The church is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. ## 2) Gifts and Offerings 2022 2021 General Offering 8,281 3,235 Tithed Giving 14,297 13,538 Thanks Offering 24,700 24,613 Missionary giving 0 0 Sunday School 110 219 Miscellaneous ___ ______ 47,388 41,601 2022 2021 Mission Support 3,000 Bursary 500 Street Pastors Donation 300 ____ 300 3,500 ## 3) Missionary Expenses Page 7 of 8 ## CAMBRIDGE KOREAN CHURCH LTD (A Company Limited by Guarantee not having a Share Capital) CHURCH DEACONS COURT REPORT AND FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2023 ## INDEPENDENT EXAMINERS UNQUALIFIED REPORT Independent Examiner’s report to the Trustees of the Cambridge Korean Church. I report on the accounts of the church for the year ended 28[th] February 2023. Which are set out on the accompanying pages. ## **Respective responsibilities of the trustees and examiner.** As the charity trustees, you are responsible for the preparation of the accounts; you consider that the audit requirements of Section 43 (2) of the Charities Act 1993 (the Act) do not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43 (7) (b) of the Act, whether particular matters have come to my attention. ## **Basis of independent examiner’s report.** My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination included 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, seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion of the view given by the accounts. ## **Independent examiner’s statement.** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 41 of the Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the act. Have not been met: or - (2) to which, in my opinion, attention should have been drawn in order to enable a proper understanding of the accounts to be reached. -------------------------------------------- Name Address Date 23 November 2023 Page 8 of 8