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2024-07-31-accounts

Docusign EnvelopÈ ID". 729C8965-DA9C411E-943E-02C2B83A09EA Sun Kyeong Qi ANNUAL REPORT 2023-24

Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Legal and Administrative Information

Trustees Sophie Davin Hugh Cochrane Pradnya Ranade Susan Hutchins (appointed 4/6/2024) Fiona Brown (Resigned 22/5/2024) 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 Independent examiner Cooper Parry Group Limited New Derwent House 69 - 73 Theobalds Road London WC1X 8TA

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Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

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
Sun Kyeong Financial review 17
Going concern
Statement of trustees' responsibilities
Independent examiner’s report 19
Statement of financial activities 20
Income and expenditure account
Balance sheet 21
Notes to the financial statements 22

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Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Sun Kyeong

Sun Kyeong is a practice that began in South Korea, to help us reconnect 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 harmony and balance for better health and wellbeing.

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

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

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. Sun Kyeong Glasgow extends our reach to Scotland. Sun Kyeong closed its Manchester and Birmingham branches in April and June 2023, respectively. Practitioners continue to make monthly visits to support people in these regions.

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 Sun Kyeong services;

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

  3. to advance the education of the public in Sun Kyeong services.

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Why Sun Kyeong is Needed

People are increasingly short of energy and suffering from burnout, fatigue, depression and disconnection. Even those who follow a healthy diet, get 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 as well as playing a fundamental role in supporting our mental health. Qi is the connection between our body, mind and spirit.

At Sun Kyeong, we believe that by learning to connect and receive the vibration of Qi, we are able to regain our physical health and emotional wellbeing.

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How Sun Kyeong Delivers its Services

At Sun Kyeong, clients can receive 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 Susan Hutchins (appointed 4/6/2024)

Fiona Brown (Resigned 22/5/2024)

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. With a more stable economic outlook currently, the charity looks forward to being able to grow its customer base in the coming year. As exhibitions have declined as a source of new customers, we continue to put significant effort into developing a trusted online identity on social media channels.

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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, helping those struggling with stress and anxiety due to the uncertainty about the future impacting people across the UK.

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Achievements and Performance

During the year, Sun Kyeong Qi helped people across the UK enhance their quality of life. In our Glasgow and London centres, we provide an oasis of calm for our clients, looking to recharge and restore physical, emotional and spiritual wellbeing. The charity has continued to advance the education of the public in complementary therapy through our range of in-house, online and outreach events around the UK and worldwide. We have continued to offer events, classes, talks and meditation courses both in our centres and online. Through our upgraded broadcast system people have enjoyed a more interactive experience and no matter where they live they can benefit from everything Sun Kyeong has to offer. This continues to enable us to reach a greater number of people.

The London and Glasgow centres have enjoyed hosting a number of different evening events, weekend workshops as well as our usual day-to-day services of classes and treatments. Our practitioners have also continued to support the people of Manchester and Birmingham, where we had to close our centres, with regular monthly visits offering treatments, Qi classes and meditation sessions.

Exhibitions and Events

This year we have attended fewer exhibitions than in previous years due to a decline in the number of exhibitions available. At the exhibitions that we have attended the practitioners enjoyed being able to introduce our method and offer treatments to members of the public. This in turn has increased the footfall in the centres with people buying courses of treatments at the various shows. Both London and Glasgow centres have benefitted from being able to attend these events, sharing what we do with the public, enabling them to see and experience first-hand the benefits of an energy treatment. Over the years 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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Docusign EnvelopÈ ID". 729C8965-DA9C411E-943E-02C2B83A09EA "For manyyears I have worked in Central London fora numberof corporate companies in a high pressure, financial performance results environment, acting for large institutional clients, major FTSE companies, where performing at second best is often not accepted. Doing this for manyyears left me physicallyand mentallyexhausted. I came across Sun Kyeong at an exhibition in London. I had an initial treatment at the exhibition where I was informed I wasvery low in energy. I therefore decided to embark on a course of ten treatments accompanied by attending Qi classes. Over the years I have had the privilege of having treatments with different practitioners. Having one-to-one discussions about how"Qi" works and the realisation ofthe importance ofQi in the body Attending the classes, having a combination of meditation and exercises has had a profound effect on mywellbeing. The classes leave me with a sense of peace and calmness and significantly increased levels of energy. Theteam atthe London Centre are fabulous, kind, supportive and understanding, and continuing with classes and treatments has significantly improved my health and happiness." Nigel, London 10

Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Events During the Year

The London and Glasgow centres have run monthly meditation evenings which were very successful. They have taught people simple yet powerful meditations which can be part of a daily practice, helping people to manage stress and anxiety, begin and end their day with greater peace and feel generally more positive, happy and focused. Those who have attended have also experienced the benefit of a Qi treatment and have then returned for regular sessions.

We are always looking for new opportunities to partner with businesses and community organisations to promote our wellbeing services on an ongoing basis. The London centre launched a new scheme for local business called FREE FRIDAY. In exchange for promoting us with information leaflets and flyers in their cafe, restaurant, salon, hotel etc we would give free energy treatments to their employees every Friday. Each business could offer 2 members of staff per month a free energy treatment. This was an excellent way to get to know the local businesses in our area, discuss how we could promote and support each other and give something back to the local community. The energy treatments were really well received and it meant that employers were also able to help look after their employees wellbeing by nominating them to receive a free energy treatment.

Guided Qi Meditation to Restore Inner Peace was a Qi workshop regularly run in the Glasgow centre focusing on improving physical and emotional wellbeing. This event was very popular and an excellent way to introduce new people to the Glasgow centre. It was from workshops such as this that they would become regular members benefitting from weekly Qi classes and treatments.

London once again hosted Master Oh’s Energy and Connection retreat for two days at the Hallam Conference Centre in June. This was an enormous boost for the London centre in which Master Oh dedicated his time for free, sharing his wisdom and really explaining the practice to an audience of nearly one hundred people. He also shared simple yet powerful meditation tools to help people transform their lives in a positive way. This powerful weekend enabled people to connect to their true selves, recharge and learn tools to help overcome stress, fatigue, depression and anxiety. The weekend is a powerful way to help people transform, change and find a real sense of happiness. These events provided an intensive introduction to our techniques and philosophy. Many of those who attended the weekend became regular clients at the London centre joining classes and having treatments.

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Sun Kyeong Qi has been running successful workshops and events throughout the year, introducing the Sun Kyeong method, its philosophy, treatments and classes to a wide range of people. It has also been focusing on a campaign to create greater awareness about Sun Kyeong and the different ways we can help people both in person and online. This is an ongoing project and the charity is putting an experienced team together to look at this in more depth and from a marketing perspective.

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Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Here are some of the events and activities Sun Kyeong Qi has been working on throughout the year:

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Docusign EnvelopÈ ID". 729C8965-DA9C411E-943E-02C2B83A09EA '1 started coming to the Sun Kyeong centre in Aug 2021.1 was burnt out and depressed from the long working hours I had been doing in my corporate role in the city. The energy classes and treatments were a lifesaver for me. They helped clear my depression and revitalised my energy levels. After regularly continuing the classes for a number of years, the benefits to my wellbeing are undeniable. I therefore decided to start volunteering at Sun Kyeong last year so I could help others to also benefit. I predominantly support reception, typically 2-3 days a week,. welcoming clients, booking appointments, managing the diaryand taking payments. I love volunteering at the centre because every time I'm there I see the difference the treatments and classes make to the lives of the clients. Many have chronic issues and pains but often, even within a few weeks, experience a discernible difference in their symptoms. It's also very inspiring for me to see how professional, dedicated and hardworking the staff are. Asa volunteer, they have made me feel part ofthe team and are always role modelling phenomenal care for our clients. Something I hope to emulate." Deepika, London 14

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Supporting charities and community groups

We have continued to make fruit and food donations to the Glasgow City Mission and the Euston Food Bank. Euston Food Bank provides three days of nutritionally-balanced emergency food and support to local people who are referred to them in crisis. They are part of a nationwide network of foodbanks, working to combat poverty and hunger across the UK . The London centre supplies them with food twice a week, which is an invaluable support to this food bank.

Glasgow City Mission is the world’s first City Mission - a Christian organisation with projects around the world and has been caring for the city’s marginalised people since 1826. They offer help to vulnerable adults and children within the city, fighting against poverty and disadvantage in Glasgow. Their base is a day centre offering hot meals, support, advice, rehab services. In 2023 Glasgow City Mission provided numerous hot nutritious meals for people- nearly 40,000 hot meals.

The regular fruit donations made by the Glasgow Centre have been very much appreciated by everyone at the Glasgow City Mission.

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Sun Kyeong Qi’s Vision and Plans

We are passionate in our desire for people all over the world to benefit from the Sun Kyeong method. 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 in facilitating knowledge sharing with Sun Kyeong organisations in other countries.

We continue to look for partnerships with other charities and organisations in order to introduce our powerful meditations and treatments to help people combat stress, anxiety, pain and any other physical and emotional challenges that they face.

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 allow 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 is a recognised centre of excellence for practitioners worldwide and the management constantly seeks to enhance professional development, share ideas and best practice. To this end, an advanced Practitioner Training week was held in June with practitioners from Europe and USA in attendance.

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 draft financial results of the charity for 2023 – 2024 show a loss of around £109,556 pre-depreciation, and a post-depreciation loss of around £127,497. Offsetting this, a windfall tax rebate was received in May that had enabled the charity to post a large profit in the previous financial year. Some of these additional funds are being invested in improved outreach and communication to grow, develop and retain our client base.

Going concern

While a difficult economic period nationwide has affected the charity in recent years, we are optimistic for the future. Sun Kyeong Qi offers a unique set of services that specifically address modern stress-related illnesses. As a result, we see many new and repeat clients, highlighting the ongoing demand for our services. Many clients experience longlasting benefits and go on to become patrons of the charity, offering donations to enable more people to benefit from our services.

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.

Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company 19 March 2025 directors, on ______ and signed on the board's behalf by:

Susan Hutchins

Trustee

Dated: 19 March 2025

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Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Independent Examiner's Report to the Trustees of Sun Kyeong Qi

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

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Glen Bott FCA For and on behalf of

Cooper Parry Group Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA 19 March 2025 Date: .............................................

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Sun Kyeong Qi

Statement of Financial Activities for the year ended 31 July 2024

2024 2023
Unrestricted
fund Total funds
Notes £ £
Income and endowments from
Donations and legacies 4 108,092 199,095
Other trading activities 5 188,239 255,818
Other income - 194,114
Total 296,331 649,027
Expenditure on
Charitable activities 6
Other costs - 10,000
Management and administration cost 136,459 158,103
Exhibitions and festival expenditure 45,118 41,532
Rent, rates, utilities, wellbeing/internal costs 202,581 263,252
Other 39,670 8,107
Total 423,828 480,994
NET INCOME/(EXPENDITURE) (127,497) 168,033
Reconciliation of funds
Total funds brought forward 356,557 188,524
Total funds carried forward 229,060 356,557

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Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Sun Kyeong Qi

Balance Sheet 31 July 2024

2024 2023
Unrestricted
fund Total funds
Notes £ £
Fixed assets
Tangible assets 11 40,020 50,561
Investments 12 100 100
40,120 50,661
Current assets
Debtors 13 40,995 356,831
Cash at bank and in hand 268,335 10,697
309,330 367,528
Creditors
Amounts falling due within one year 14 (120,390) (61,632)
Net current assets 188,940 305,896
Total assets less current liabilities 229,060 356,557
NET ASSETS 229,060 356,557
Funds 17
Unrestricted funds 229,060 356,557
Total funds 229,060 356,557

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

19 March 2025

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Susan Helen Hutchins - Trustee

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Sun Kyeong Qi

Notes to the Financial Statements for the year ended 31 July 2024

1. Charity information

Sun Kyeong Qi. is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Sun Kyeong Qi, 1st Floor, 47-50 Margaret Street, London, W1W 8SB, England.

2. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Going Concern

The financial statements have been prepared on a going concern basis, which assumes that the charity will continue in operational existence for the foreseeable future which the trustees believe to be appropriate.

The charity is part of a group which has a mixture of income streams with a combination of contractual and general sales.

For these reasons the trustees believe there are sufficient funds available within the Charity to operate as a going concern.

Company Status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 7. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Valuation of investments

Investments are measured at cost less accumulated impairment.

VAT

The charity became VAT registered in 2023. Adjustments were made to the recoverable amount in the prior financial year.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

2. Accounting policies - continued

Tangible fixed assets

Land & Buildings Amortised over 7 years Plant & Machinery 33 % Straight Line Fixtures, Fittings & Equipment 33 %Straight Line

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £1 or any smaller amount required if:

(a) the charity is wound-up while he or she is a member or within a year afterwards; and

(b) the charity has debts and liabilities which it cannot meet out of its assets.

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Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

3. Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. Donations and legacies

Donations
5.
Other trading activities
Other income (Contributions to rent)
Wellness Centres		 2024
£
108,092
2024
£
30,702
157,537
188,239		 2023
£
199,095
2023
£
7,661
248,157
255,818

6. Charitable activities costs

Charitable activities costs Charitable activities costs
Management and administration cost
Exhibitions and festival expenditure
Rent, rates, utilities, wellbeing/internal
costs
Support costs
Management
£
Other resources expended
-
Management and
administration cost
126,804
126,804		 Support
Direct
costs (see
Costs
note 7)
£
£
-
136,459
45,118
-
202,581
-
247,699
136,459
Information
Governance
Finance
technology
costs
£
£
£
-
-
39,670
4,208
5,447
-		 Totals
£
136,459
45,118
202,581
384,158
Totals
£
39,670
136,459
176,129
126,804 4,208 5,447 39,670

7. Support costs

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Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

7. Support costs - continued

Support costs, included in the above, are as follows:

2024 2023
Management
Other
and
resources administration Total Total
expended
cost		 activities activities
£ £ £ £
Wages -
39,386		 39,386 40,756
Insurance -
7,919		 7,919 9,612
Telephone -
3,868		 3,868 6,142
Marketing, Postage & stationery -
28,771		 28,771 39,690
Legal and professional fees -
-		 - 493
Sundries -
10,015		 10,015 4,649
Repairs and Renewals -
4,263		 4,263 18,251
Travelling Expenses -
6,366		 6,366 3,373
Legal and Professional -
8,275		 8,275 6,000
Depreciation of tangible and heritage assets -
17,941		 17,941 15,475
Bank charges -
4,208		 4,208 6,148
Computer expenses -
5,447		 5,447 7,514
Accountancy and Independent Examiners
fees 39,670
-		 39,670 18,107
39,670 136,459 176,129 176,210
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2024 2023
£ £
Depreciation - owned assets 17,941 15,475

8. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

9. Trustees' remuneration and benefits

During the year charitable donations of 2024: £3,920 (2023: £2,920) were received from the trustees of the Charity. Hugh Cochrane received trustee remuneration of 2024: £6,000 (2023: £2,500).

Susan Helen Hutchins received trustee remuneration of 2024: £3,500 (2023: £0).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.

25

Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

10. Staff costs

The average monthly number of employees during the year was as follows:

Admin wages
No employees received emoluments in excess of £60,000.
11.
Tangible fixed assets
Long
leasehold
£
Cost
At 1 August 2023
692,248
Additions
-
At 31 July 2024
692,248
Depreciation
At 1 August 2023
643,324
Charge for year
13,708
At 31 July 2024
657,032
Net book value
At 31 July 2024
35,216
At 31 July 2023
48,924
12.
Fixed asset investments
Market value
At 1 August 2023 and 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023		 2024
2023
5
5
Fixtures
and
fittings
Totals
£
£
150,679
842,927
7,400
7,400
158,079
850,327
149,042
792,366
4,233
17,941
153,275
810,307
4,804
40,020
1,637
50,561
Shares in
group
undertakings
£
100
100
100

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Sun Kyeong AH Ltd

Registered office: 1st Floor 47 - 50 Margaret Street, London, England, W1W 8SB Nature of business: Other human health activities

%
Class of share:
holding
Ordinary
100
Aggregate capital and reserves
Profit for the year		 2024
£
4,195
4,085		 2023
£
210
3,330

26

Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

13.
Debtors: amounts falling due within one year
2024
£
Trade debtors
400
Other debtors
38,250
VAT
-
Prepayments and accrued income
2,345
40,995
14.
Creditors: amounts falling due within one year
2024
£
Bank loans and overdrafts (see note 15)
-
Other loans (see note 15)
-
Trade creditors
12,915
Amounts owed to group undertakings
50
VAT
91,123
Accruals and deferred income
16,302
120,390
15.
Loans
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Bank overdrafts
-
Other loans
-
-
16.
Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
£
Within one year
15,525
Between one and five years
19,406
34,931		 2023
£
2,380
40,430
308,542
5,479
356,831
2023
£
65
3,000
25,538
50
-
32,979
61,632
2023
£
65
3,000
3,065
2023
£
167,466
196,575
364,041

27

Docusign Envelope ID: 729C8965-DA9C-411E-943E-02C2B83A09EA

Sun Kyeong Qi

Notes to the Financial Statements - continued for the year ended 31 July 2024

17. Movement in funds

Movement in funds
Net
movement
At 1/8/23 in funds At 31/7/24
£ £ £
Unrestricted funds
General fund 356,557 (127,497) 229,060
TOTAL FUNDS 356,557 (127,497) 229,060
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 296,331 (423,828) (127,497)
TOTAL FUNDS 296,331 (423,828) (127,497)
Comparatives for movement in funds
Net
movement
At 1/8/22 in funds At 31/7/23
£ £ £
Unrestricted funds
General fund 188,524 168,033 356,557
TOTAL FUNDS 188,524 168,033 356,557
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 649,027 (480,994) 168,033
TOTAL FUNDS 649,027 (480,994) 168,033

18. Related party disclosures

As at the year end, the company owes Caroline Burns £0 (2023: £3,000). This amount is interest free and included in the other loans.

During the year charitable donations of £34,400 (2023: £90,000) were received from the subsidiary company Sun Kyeong AH Ltd. Also, contributions of £20,683 (2023: £26,160) were received from Sun Kyeong AH Ltd towards shared resources/facilities for the year.

28

Docusign EnvelopÈ ID". 729C8965-DA9C411E-943E-02C2B83A09EA ¥. INTF.RN.,ITI()N,11.