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2022-07-31-accounts

Sun Kyeong Qi ANNUAL REPORT 2021- 22

Legal and Administrative Information

Trustees Sophie Davin Hugh Cochrane Pradnya Ranade Fiona Brown

Secretary Pradnya Ranade Charity number, England & Wales 1133398 Scotland SC051230 Company number 06655976 Registered office Sun Kyeong Qi 1[st] Floor 47 – 50 Margaret St London England W1W 8SB Auditor Haines Watts Chartered Accountants New Derwent House 69 - 73 Theobalds Road London WC1X 8TA

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Table of Contents

Objectives 4
Why Sun Kyeong is needed 5
How Sun Kyeong delivers its services 6
Company information 7
Company status, governance and management
Reserves policy
Risks
Public benefit 8
Achievements and Performance 9
Exhibitions and events
Other events during the year 11
In-house and online events 12
Supporting charities and community groups 15
Sun Kyeong Qi’s vision and plans 16
Sun Kyeong Qi’s global responsibility
Special thanks 17
Sun Kyeong Financial review 18
Going concern
Statement of trustees' responsibilities
Auditors 19
Independent examiner’s report 20
Statement of financial activities 25
Income and expenditure account
Balance sheet 26
Notes to the financial statements 29

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Sun Kyeong

Sun Kyeong is a practice that began in South Korea, to reconnect us to ourselves, to nature and the Universe by helping us tune to the vibration of life, Qi. With the world in ever-expanding social and environmental crises, now more than ever humanity needs a new method to achieve a harmony that seems beyond the reach of the gain-seeking human mind.

Sun Kyeong comprises Qi Treatments and Qi Classes and over time this practice leads to a greater understanding of the laws of nature and helps us to achieve improved levels of health, happiness and greater spiritual connection.

Sun Kyeong centres are places of positive energy and harmony where specially trained practitioners teach you how to regain your equilibrium and learn to manage your energy better for a healthy, happier life now and for the future.

Sun Kyeong Manchester services the North West and neighbouring regions, while the Sun Kyeong Birmingham centre supports the Midlands. Sun Kyeong London offers services to people in and around London and the South East and, through its online services, enables those who cannot attend a centre to participate and benefit from what we offer. Since August 2021, the Sun Kyeong services are also available in the region of Scotland, with the latest centre having opened its doors in Glasgow.

Sun Kyeong Qi supports the growth of Sun Kyeong centres worldwide through the provision of professional development workshops, sharing of best practice and brand, marketing and technical resources.

Objectives

Sun Kyeong Qi is a non-profit organisation dedicated to helping people achieve wellness.

The objectives of the charity are:

  1. to advance the health and wellbeing of the public by the provision of the Sun Kyeong Energy Programme;

  2. to relieve the need of those in sickness or distress by the provision of the Sun Kyeong Energy Programme;

  3. to advance the education of the public in the Sun Kyeong Energy Programme.

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Why Sun Kyeong is Needed

People are increasingly short of energy, suffering from burnout, fatigue, depression and disconnection. Even those that have a healthy diet and sufficient exercise and rest can still feel tired. We have depleted our Qi energy and our batteries are flat. When we are short of Qi, having more rest or improving the quality of our diet will not necessarily give us more energy or resolve our health concerns.

Eastern principles outline how Qi supports our organs, cells and physical functions and is the connection between our body, mind and spirit.

At Sun Kyeong, we believe that by regaining our connection and learning to harness the power of Qi, we are able to regain our physical health and emotional wellbeing.

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How Sun Kyeong Delivers its Services

Sun Kyeong services are delivered through the energy programme, comprising a personalised combination of classes and treatments, based on the specific needs of the individual. Most of the services in the centres are offered on a paid basis, with concessionary rates available.

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Company Information

Company Status, Governance and Management

Sun Kyeong Qi is a registered charity and a company limited by guarantee, incorporated on 24 July 2008 and established with a Memorandum and Articles of Association. The trustees, who are also directors for the purposes of company law, who served during the year were: Sophie Davin

Hugh Cochrane Pradnya Ranade Fiona Brown

Reserves Policy

We have a consistent reserves policy that ensures more than sufficient funds are available to cover expenditure for the foreseeable future. No reserves have been appropriated for a specific purpose at the year end. The reserves policy is agreed on and signed off annually by management and the trustees.

Risks

The trustees have assessed the major risks to which the charity is exposed and they are satisfied that systems are in place to mitigate exposure to the major risks.

The charity is faced with the current global coronavirus pandemic, which has spread across the UK. The three UK centres have been following government guidelines on hygiene until their doors were closed on 18th March 2020.

Government measures, though essential, involve a high degree of social disruption which is having an impact on the delivery of and demand for the activities of the charity, the availability of staff and volunteers. The charity has, however, always offered its services online to all beneficiaries. As a result of the Covid circumstances our efforts and resources have been focused on developing our online activities further. We have noticed that many people who otherwise would not have been able to avail of the charity's services, are now able to because they are on lockdown. The charity has continued to positively support its beneficiaries, taking particular care of more vulnerable or "at risk" clients during this time.

We continue to follow Government guidelines on safeguarding beneficiaries, staff and volunteers especially as lockdown measures are eased, and continue to grow the portfolio of our services online for the benefit of all service users across the country.

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Public Benefit

The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission.

The charity has continued to positively support its beneficiaries, supporting people struggling with stress and anxiety due to the difficult economic circumstances and uncertainty about the future that is impacting people across the UK. The effects of the pandemic on public health, mental health as well as community and health service provision has been far-reaching and the full extent of which is not yet fully known.

The Sun Kyeong method is playing a vital role in helping many people who have been adversely affected by symptoms of ‘long covid’ and the lasting effects of the mental health challenges of lockdown.

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Achievements and Performance

During the year, Sun Kyeong Qi helped people across the UK to enhance their quality of life. In our centres, we continued to provide a caring and tranquil environment for those enduring ill-health or difficulty in their lives. The charity has continued to advance the education of the public in complementary therapy through our range of in-house and outreach events around the UK and worldwide. After the end of lockdown restrictions, we continued to offer events, classes, talks and meditation courses online via Zoom and through our live streaming broadcast system. We were also able to restore our in-person services to full availability immediately upon the ending of restrictions.

Lastly, we completed the opening of the Glasgow centre. A project in the making for many years, we were able to open the doors of the new centre in August 2021.

Exhibitions and Events

It has been the first year since the pandemic where we have seen a return to normality and been able to offer Qi treatments to the public in person, after a two-year hiatus with no public events. The practitioners have really enjoyed being able to share our method and offer treatments to members of the public at events all around the country. This in turn has increased footfall in the centres with many people buying courses of treatments at the various shows. Each centre throughout the UK has benefitted from being able to attend events in person, sharing what we do with the public, enabling them to see and experience first hand the benefits of an energy treatment. Many people have been introduced to our method in this way and have continued with regular classes and treatments.

Events attended throughout the UK this year:

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"Having previously tried various meditation techniques/ apps and also )"oga/pilates, I was intr(Kluced to Qi classes during lockdown in April 2020 when working from home. They very soon became an essential part of my da).. I found thern a perfect balance of time to focus on oneself but at the same time to feel connected to something greater. The eombination of focu.sed mediation and moi'ement rooted in spirituality, has gii'en me a mueh deeper awareness of m)'self (lJ)th ph}'sicallJ' and mentally) and a sense of support from the world around me. I had not expected to be able to find the time to Continue with elasses once my life became busier again after lockdown but it is very clear that with them I have more energy and they make me feel calmer, more relaxed, more compassionate towards mj'self and others, more resilient (both phi'sicallj" and rnentall),), more able to focus on my da), and altogether happier. l used to have chronic baek issues h'hich required regular osleopath and chiropractor appointments, which are now no longer necessary. The classes have made, and continue to make, a huge positive difference to my life. Richard, London Page 10

Other Events During the Year

We are always looking for new opportunities to partner with businesses, student bodies and community organisations to promote our wellbeing services on an ongoing basis. Guided Qi Meditation to Restore Inner Peace was a Qi Workshop that was run at a student event in Birmingham focusing on wellbeing and self-care. The students really enjoyed the experience and wanted to have more events like this at their college. The Birmingham centre is therefore looking to create more experiences like this for students.

In Birmingham we were invited to be part of the Colemore Business District Wellness Week in May, giving a series of meditations throughout the week. It was a great opportunity to showcase what we do. The sessions were well attended and the feedback was very positive. Those who attended said they felt a reduction in their stress levels and anxiety after each meditation.

We are also developing corporate energy packages in which we will offer different ways to support people in the workplace through Qi treatments, Qi classes as well as guided meditation sessions. We look forward to rolling out these programmes in 2023.

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In-house and Online Events

Sun Kyeong centres ran successful workshops and events throughout the year, introducing the Sun Kyeong method, its philosophy, treatments and classes. It has made a big difference now that all the restrictions from the pandemic have been lifted, enabling in-house events to take place again and creating a peaceful and friendly environment where people can come and receive energy, socialise and meet new people. We have found the isolation people endured over the past few years an important factor in motivating people to get out and try something new and meet new people.

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During the year, the following events took place:

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Supporting charities and community groups

Cutbacks in community services due to funding as well as the lasting impact of Covid restrictions, have meant that some of our longstanding community projects (Gorton Monastery in Manchester and Birmingham Vision) are no longer operational and we are looking to create new partnerships to be able to bring the benefit of Sun Kyeong treatments to those in need.

We have continued to make fruit and food donations to the Booth Centre (Manchester), Glasgow City Mission and the Euston Food Bank. Euston Food Bank was intentionally set up in an area of need and since the first lockdown the demand for emergency food parcels has tripled. They now give out 85% of all support parcels in the Camden Borough. The growing economic crisis including the increased cost of living especially in London means that the Euston Food Bank is a lifeline for many families who are unable to manage. The London centre supplies them with food twice a week, which is an invaluable support to this foodbank.

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Sun Kyeong Qi’s vision and plans

Our vision is to make the Sun Kyeong method available to as many people as possible throughout the UK and globally. To this end the UK charity takes a leading role facilitating knowledge sharing with Sun Kyeong organisations in other countries.

For outreach, the charity has traditionally relied on in-person events. Following Covid, we have increasingly used online channels to promote and deliver our work. With the ending of Covid restrictions we seek to leverage both approaches to reach a wider audience and secure the charity’s long-term future.

Sun Kyeong Qi’s global responsibility

The charity continued its efforts to be an example and leader in the delivery of the Sun Kyeong method worldwide. Online meetings and regular catch-ups also allowed us to strengthen the relationship with all the Sun Kyeong organisations around the world, to promote the highest standards of client care and service delivery.

The London Centre hosted a training weekend in April in which Sun Kyeong practitioners from around the world came together for enhanced professional development, sharing ideas and best practice.

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Special thanks

We are grateful to our patrons, donors and volunteers who have enabled Sun Kyeong to support people across the UK and beyond. The charity relies on the vital support of numerous volunteers who assist with the daily running of individual centres and community projects.

We are grateful to all those who have made donations, shared their professional skills or volunteered in Sun Kyeong centres and on community projects. We depend on the support of volunteers, patrons and donors in order to be able to deliver our projects to help more people.

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Financial Review

The income of the charity for the year under review was £625,670 (2021: £404,292) and the expenditure in furtherance of the charitable objectives as set out on page 5 was £537,648 (2021: £542,460). The charity had reserves at the year end of £188,524 (2021: £100,502).

Going concern

The repositioning of Sun Kyeong Qi is an exciting new chapter for the charity and its volunteers. With a strong, professional team spearheading a robust strategy for the future, the outlook is extremely positive. We look forward to introducing Sun Kyeong Qi globally and enabling more people around the world to benefit from our energy programmes.

Statement of trustees' responsibilities

The trustees (who are also the directors of Sun Kyeong Qi for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

The auditors Haines Watts Chartered Accountants Haines Watts will be proposed for re-appointment at the forthcoming Annual General Meeting.

Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ______ and signed on the board's behalf by:

Fiona Brown Trustee Dated:

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Independent examiner's report To the trustees of Sun Kyeong Qi ('the Company')

Opinion

We have audited the financial statements of Sun Kyeong Qi (the 'charitable company') for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may

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cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be

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expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and Charities Act 2011.

Our procedures in relation to fraud, included but were not limited to: enquiring of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements; review of meeting minutes; and using analytical procedures to identify any unusual or unexpected relationships. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests included agreeing the financial statement disclosures to underlying supporting documentation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities

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oetUTI'ing due to fraud rather than erroL', &$ fraud involves intentional coneealment, forgery, collusion, omission or misrepresentation. A ￿rther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at ryYw.fre.OTg.uk/auditOT8responsibilities. This description forms part of our Report of tbe Independent Auditors. Use ofour report This report is made solely to the eharitsble eompanls membeTS, as a body) in accordanee with ChapteT 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to tbe eharitable cornpany's members those matters we are required to state to them in an auditor8, report and foi no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body* for our audit work, for this report, or for the opinions we have formed. Jane Wills (MA FCA) (Senior Statutory Auditor) for and on behalf of Httines Watts Chartered Accountants and Statutory Auditor New Derwent House 69-73 Theobalds Road tA>ndon WCIX 8TA Date: £3 Page 24