Company I'egistration number.. 07106567
Chai'ity iegisti'ation number.. 1135892
The Chinese Overseas Christian Mission
(A company limited by guaianteel
Annuaj Report and Financial St8teinellts
for the Year Bnded 31 Decefflbei. 2023
Michael J Emery & Co Limited
22 St John Strect
Newpoil Pagnell
BuckinghamsliiiE
MIC168HJ

The Cliine.8¢ Overseas Chri5tÉAn Missioii
Contents
Rcfeien¢e and Adiiiinistrative Details
I to2
Tiwstee5' Report
3 10 8
St21ement of'l'rustees, ReS￿nSibilItieS
Independent Auditors, Report
Ioto 13
Statetnent of Financial Activitie5
14
J3alancc Sheet
15
Stattmtnt of C8sh Flows
L6
Notes lo the Financi21 Statements
17to30
Detailed Statement of Financial Activities
31 to33

The Chinese Overseas Chi'iytian Mission
Refei'ence and Adn]ini8tJ'ative Details
TriisteeslJ)ii'ettors
Lievd Slew Huat Ong
Dr Wesley Lai
James Lo
Council
Revd Siew Huat On8, Chfjirman of coucil
Di. Wesley Lai, Viee-chairinan of council
Jaines Lo, Treesurerof council
Rcvd Johllny Chan, Council member (deceased May 20231
Jin l.i, Council member
Cai'men N& Council Jneinber
Keith tau, Council member
Ra¢hel Li, Courjcil meirtber
Mailin Choi, Council member
Yeng Shiong Ang, Collncil memba.
Prtllcipal Office
2 Padstow Avertue
Fishei'niead
Milton K¢yne%
BUckIn￿]amShire
NfjL(6 2ES
Compa￿Y Regisli'ation Nllmbei.
07106567
Cbai'ity Registratiots Number
I 135892
Page I

Tlie Chinese Overseas Christiaii Mission
Referenee and Admini&ti'ative Details
Elli5-Fe￿M0l. & Negus Limited
2 DevonshiiE Avenue
Btcsion
Nottinghani
Nottinghamshiie
NG9 IBS
Banktis
CAF Bank
25 Kings Hill Avenue
Kings Hill
Wcst Malling
Kenl
E194JQ
Milion Keynes Midsutnintr Place BTartch
idsuminer Place
19 Midsummer Boulevard
Milton Kcynes
Buckinghainsliire
MK9 3GB
HSBC
Ealing Bix)adway Jjranch
46 The Bioadway
LONDON
W5 5JR
Flagstone GKoup Limited
Cl81'eville House, 26-27 Oxtndon Stitet
Londo
SW IY 4F.I.
Setlior ManAgtmeMt Team
Henry Tsz Fung Lu, Gtneral dire¢tor
Revd Kam Hung Ho, DiiEctor of adminisliztion
Rebecca Mao. Dii'e¢lor of illember C￿E
Connie Yu (Jrsigned March 2023)
Candy 7hang (appointedNovember 20231
Atsditoy
Michael J Lmery & Co Limited
22 St John Sti'eet
NewpoTt Pa￿¢11
Buckingham5hire
MK16 8FIJ
Page 2

The Cliinese Overseas Cbristian Mi5SIOlk
T)'ustees' Repoi't
'L"he Irustecs. who ￿'e directors for Ihe purposes of coiiipany law, pre8ent the annual report together with the
financial statements and auditois, report of th¢ ¢haritablc tompany foi. the yedr ended 31 Deeemt¢i' 2023.
Obj¢ctSves and Activiti
Objects lliidftiFIis
The Mission's objcctives are as follows:_
To preach tlie Gospel of Jesus Christ pi'iinarily to people of Chinese etlinic origin in Europe.
To establish and foster self-supportittg groups of Chinese CbJ￿SIIsnS in LiUlUPe.
To eJ]courage Jnutual fellowships and co.operation amongst the Chinese Christian5 in Europe.
To encourage mutual felloivships alld e￿Ope1311ort with the local Evangelical Churches, societies and agencies in
ministei'ing to the needs of ihe Chinese people.
To encourage mutual fcllom￿hIps and co-operation in the task of world evangelisatioll and building up the univ￿￿al
Cliuirh.
To prepa￿ and equip Chinese Christians to serve God in theii. eounlries of residtnce.
Objeclives. sirulegies aci?vi/téS
The prinGipal activity of thc Mission is dial of spreading the Chri.slian Gospel, through evangelism, priinayily to
people ol Chinese eihnic origin, especially in Gi'cat Britain and Ew'ope. The Mission has a spe¢ifit role in pjoviding
'aining and lite￿at￿re for this wojk.
niblic beiiefll
TIJC obje¢tivo% of preaching the gospel of Jesus CIy'i5t and teachiiig the do¢tYines of the Christian reliEion are rntt in
the evangelistic. leaching and trainiiig ministry of the 8taff team. The teain is UK based, bul one Louple 15 based in
Fi'anG¢ and one couple is b*￿t￿ in ihe NTethcrlands. Many LoDfeKences at￿ training cvenls ait held at the Imission
Centre in Milton Iccyiies 8% well in local churches, and the Mi%sion a150 proinotes C.hi'istian ¢onferences in
cortjunction witli gi.oups dizwn from Chinese churGhes. I'hc M&ssion hrts a book room lacces5ible onlille ttsol to
make available Bibles 8nd Chi'istian litcratuie, and publishes onlin¢ magazines for the Cliinese ¢oiMmunity-
Addilionally, Ihe Mission wol'ks with local Fxoups of Chinese Chrisiians in the esiablishiiient and developti)ent of
self- supporting churchcs.
The ￿￿ste¢S eojitii'rn that Ihey liavc complied with the i-equii'emenls of se¢tion 17 of the Charitie% Act 2011 to Iiave
due regard to Ilie public benefit guidance publis]ied by the Chaiity CoJnini&%ion for Fngland and Wales.
Use oJvoliiFileelY
I'he chai'ity bencfils substantially trom unpaid volunttci's who ¢ontYtbute to its objeciives. Tlie val￿t of theii. htlp
cannot be qualltified by the tru51ees.
PaEe 3

The Cliinese Overseas Chiistian Missioll
Ti'ustees, Repoi't
Acli]eve￿Iellts aDd performatjce
The Mission seeks lo athievt its objectives by pi'iinaiily focussing its work OD the areas defined by ils Vision
Mission and Sii'ategi¢ Plan. 'fhe curi'ent plall was adopted and bi￿￿￿t into effect eaTr'ly in 2020. 'fhe Mi55ion
continuts to have the Ihrecfold purposes of evangelism, equipping, and encouiagement. The plan sets out in bToad
tei'ms thc obj¢etives curretstly envisaged.
Growtli....aii¢l F&JopegiowllJ
The most ssgnifi¢ant featuits of 2023 ￿￿Te..
The itlflow of iinmigrants with RNO stattEs to the UK from Hong Kong coniinued for another yeai.. Matly of these
immigianls are C.hristi&ns who attended cliuirhes back in Hong Kong. Jn response to this grcat missiun we have
continued to rccruit more mi5bionary staff 10 cope with the thallenge. Many af thc staff iEcruited were the1n￿1Ve$
recent immigrants frotn Hong KonE. knound tlie UK almost evci'y lo¢al Chinese chuich has been ￿mpacted by iht
new arrivals. In some Iocdiions thcre were a significani number of iminigrants Iltendtng local English speaking
churches. On top of that, theiEwere many new ¢hurches eslablished especially foi. the Cantonese speaking group.
The i'esurnption of Mandarin spcaking 5tudertt ai'rivals from China as Covid restrictions eased. These still form Ihc
largest llllernatianal student gi'oup in tlie UK.
The d¢veSopm¢nt of COCM'S u'oss-cultural teain working among othEr migrdnt gi￿Up5 in the UL especially those
who are not yel Christians.
Tlie continued ministry among the next geneTation of Chinese who w&'e born and raised in the UK, in lille with
COCM'8 long term vision of"Reaching the Chinese to reach Eui'ope
Tlie conlinued effort to dcvelop the COCM Trainillg Cenii'e facilily and pJx)moting theolog￿¢al training i
pailneiyhip with the Canadian Chinese School of Theology. Some Inalei'ial8 and ¢our8es were being developed
locally. Wc have seen an inuease in Christians who are interested in ¢rtyolling on the theolog&Gal Iraining coursc&
. The gyowth of the COCM staff teain.. at the yeai. end the Mission had 70 staff 2nd 30 volunteer associate&
Youth ministry opportutiiiies- with rnoie young people coming from Hong Kong, and the continued oppoi'tunity lo
support the existing £nglish speaking youth work, Ihere is the neeA to relhink support for churehes in youth
ministry.
Choi'¢h planlillg.. during the year COCM helpcd co-ordinate thc planlTn£ of new Chinese chuithes in York and
Manchester, aT)d through parlncr8hips and placcrnents is supporting the growili and irvitalisalion of otheT local
Chinese fellowships and churches.
COCMpnJ'Éiierships
4 With IIK Chinesc ¢hurches- supporting the chuithes through sending statTto seyve in their Inidst.
For Theological li'aining.. wilh tlie CJnadian Chinese School of Theology.
Page 4

The Cliinese Overseas Chi'istian Mission
Ti'ustee.%' Report
The COCM CeiitrÉ
Since 2003, COCKI has operated fiY)m the Mission Centrc in Milton Keynes. Tlie development of this ceiitiE 112$
been a sir2tegic suGcess and it Gonlinuos to underpin much of our wuj'k. The Cenlre enables low. cost evangelisllc
camps for youllg pcoplc and students to supplement ihe woik in the i"e8ions cai'ried out by COCMI 8taff and others.
Confeirnce and ti'aitmng minists'y woik continue5. The Centi'e is also used by Chinese churches and oth￿.
organi5ations foi. conferenLes and i'eli'eats.
Tr4lniiig llJidvoliiiileÉis
. The Mission contillues to look for recent Bible College ￿rd￿Rt¢S that aTe suitsble to serve on the Mission leajn.
The Mission Centre volunteer piogramtne {sinee 2011) bi'ings in voluiilceis to the Mi88ion CentlE to SUPPOrt the
Centi'e siaff in pTactical woi'k as well as experiencing peisonal and spiritual foiTh&tion thiDugh being p#it of the
community ther& For some this lia5 been a fjfst step lo applying fol fvither ti?inin8 to join the COCM Staff team.
The Missionary in Preparation s¢heme {staited in 2013} tontinue5. Tliis enable% promising swdents to receive
spon501.shtp and help. Thes¢ are Bible and Theological College studenL8 who may in the neai. fvlure join the slaff
teain. They spend placeinenl and vacation peiiods wilh COCM staff gs their 5upeYvisors I nientors dui'ing thcii. year3
of study. Most of iliose on Iht MIP %cheme Bo on te beeome a COCM missionary upon completion of their %tudie5.
Coipiplioiice uiidRegsilttlory inaiigr
The Council and leadei¥hip teaix bear in mind Goinpliance with regulatoi'y requii'ements. The safeguarding policy is
fully operative and there were no sei'ious tncidenl repoits in 2023. 1-here 1$ safeguai'ding ti'aining for all staff.
Page 5

I'he Chinese Overseas Chi'istian Mi,ssion
Tiwstees, Report
Financial rtview
Ineomtng Itsourccs sn¢Teased by moir th1￿ a ihiTd fix)2n 2022, llp to £2.742,763 fiDm £2,052,324. This has
contributed toivard8 an annual sui'plus of £214,958.
In¢¢me frojn Hong Kong has substantially due to an increase IR support incomes for missionary staff who are
related to Hong Kong.
At 31 De￿nber 2023 total funds %lood at £5.660,060, of which £87.103 are i'estricled funds.Detai15 of 8eparate
resti'icttd fvnds aTC given it] note 20 to the tinancial statements.
The tru5tee5 Jre mindful ihat £3,676,235 of unrestricted fvnds i5 r¢pi'esented by the Mission's freehold pj'opeitits in
Milton Keynes. These art rtot liquid fuhds and are central to the Mission's a¢tivities - piDviding an opei'aiing base
and outre2ch centre.
Pollcy oil Je$Érves
'rhe Mission continues to have a requiremenl of a minimum cash re%ei'vc of £500,000, in 2ddition to the fixed asscts
of thc Mission. The current miniinum ￿VaS tstablished ID 2013 and is IEgulai-ly reviewed by Ihe Irustee5 and Council.
Key fèLioi-s are11) the fact that a5 8 Pl-opoition of ihe mi55ion's budget it is smallei. IElative to the siz¢ of the rni5sion
than il was orsginally and (2) the fact that a significant portion of the Mission's income is from overseas, and Ihis has
some ittherent rtsk.
PriiT¢lPrtlliiiidiiig SOEiYce
Primarily fvnding comes fiY)m individuals and churches in many counli'ies who aiE lin syiiipatby ivith the #iThs of
the Mission. Only small ainounts of funding come from Ilje sale of books and inveslinent in¢tsme derived fron) the
rcservc deposit accounts. No fundraisijg aclivilies from the genEral public are undertaken.
IiivesltriiÉiiÉpoli¢N ftfrirfobjediv¢s
Th¢ policy of Ihe MissÉon 15 genei?Ily to take a conservative view of i'isk, and accordingly investment of the
Mission's re%ervcs aiid any surplus income acciijing from time to liine is inittsally made in depasit acCo￿t8 with
banks offerirtg accounts to the chai'iV4ble seGtor. Mure ircentlyj a sum lia5 been placed in a chai'iiy investsnent
account with Flagst(Jne io facilitiit¢ int￿rSt beai'ing deposits au'o%s a 18nge of b8t&s. lrt¢ome from such accounts j5
then used for the thar&lable purposes of the Missiott.
Plalls for future periods
Aiiiu uiidkey objeclivesfoi'fiiiiiiÉperiods
i.'rhe continued opeartion of the sts?tegic plan itferi'ed to above.
2. BNO Chinese imjnigi'aiion from l.long Kong is 5ubsianiially d]anging the resident Chinese community in the UK.
The Council and Leadeiship team5 watching fi]ture developinents which may pi'ovide new oppoitt]nitics for
COL,M.
J. The refreshment of cou2)cil JDemberthip - Iwo new members joincd in 2023 and moiE will need to be reciuited in
2024 and 2025 a5 long-seiving Inembers step down.
P2ge 6

Tbe Cliiiie5e Overseas c.hristian Missioii
Ti'usteesl Repoj
Slrllctui'e, govei'ii¥nce 2iJd mHn%geineut
Nniiii'e olgoveriiiFJg dociiiiieiit
The Mission is controlled by a Council whsch opei'ates undei. the Catver method of govtrnance, and is cstablished as
a company limited by 8uaYaiitee, as defiiied by the Companies Act 2006.
Retruiliiieiil wtdftppolpiiifrieiil oftJ'iisÉees
R¢¢iiJitinent and appointhjcnt are dealt with in accordance with the Articlc5 of Association.
Jiirfiieiioji ftNdirAliiEiig oflrlislee
Somc incoming trustees already have experience as charity trnstees, but all aye i"eminded of thcii. duties in their
mejnbei'ship of the company and council.
Ai'rrtiigei?iÉiilsloi' seiiEiig key nilliioggiiieFltpersoiiriel rÉiiiiiiieTtsIIo
The chai'ity beiiefits fiom liaving a stable senioi. staff team, the Tntmbei3 of which work tiiElessly to advaiice the
Dbjectives of LOCM. ThEii' reinuneraiion is by refei'ence to the rcmun¢rdtion policy lor all sLiff m¢inbers. -fhat
policy is based on the national teaGher's pay scale for England, with incremental inci'eases for length of %ti'vice, and
annual reviebts inllation. Thi8 policy seeks to make fail. provision for the charity's staff, but itmuneixtion is not
set w&th a view to matching the 'M￿.ket iaie" for blafl. in conipai'able positions in other chai'itics. The charity does
not rcgaid itself as coJnpetin£ lor the stiwices of such JKople, and the scales adopted do tiot piY)vidc a large
diffei'entiaj beiw¢ert senior and junior staff.
org￿111$011￿FIll1 sitiicnire
The Mission is based and registei'ed in the UK. Ils Council lof which tlie company diiEctoYs are ex officio Ineinbersl
sets the policics and approves the broad strategy of the Miss&on. -I'he Coun¢il adopted the Carver iiitihod of
goveinance some years aEo, and wider this sets limitation policies to guide llie Genei'al Director and %latt team as
they implement Ilie agrted strategy. The Gerteral Director thell iEporls to Council in line i¥itli the strategy and the
policies set by Council. These policies were last revietved and ametided in 2015 and are k¢pi widei. iyview in the
liglit af op￿ational nceds. The Trusiees i.e. C113irm2n, Vice Chaii'man. Se￿'t1￿ry and Ti'tasurei., are tlie direcloi'.s of
the ¢ompanyi dealing with irgulalory matte1%, operating as a leam between Council meetings. and providing a
ful"Ih￿. link beiweeji the Geticral Dircctor and senior staft on die one hand and the c.ouncil on th¢ other.
The Gharity has for msny y¢8rs benefirted immenstly frorn having representation in other ¢ounli'ie5. This lakes the
foill1 of locally J'egi51ered and %elf-govcrning cOm￿nieS in HonE Kong, Malaysia and thc USA which are
ac¢ounlable to the I'e8ulaloiy authoi'itics in those Cou￿11.&es. In otheK counti'ies such us Singapoit and Canada there
2IE individual %uppoi'iei's who volutttarily encoui'age people to suppoi't the work ol-COCM. hFone of tl)e msssionary
woi'k of COCM is cari'ied out in those locatioiis. 'fhe pUrI￿se of the local boards is to a¢1 as paitner% to COCM
through their provision of support and encoui'agement for Ihe work of COCM and to assist in the reciuitinent and
suppoi't of suilable stxtT. l-hrough these pal-￿e1'shthps, Clu'istian5 in Ihese other countries air enabled to express tlieii.
Commitment to thc vt.8ion of COCM foi. meeling the spir&tual needs of the C.liinese people in the UK and Europe.
'l-he Council has a duty io identify and i'eview the risks whTcli may affect the Mission and to piit in place controls to
miniiiiise risk and to PTovide reasonable #ssur8ncc that fiaud ￿1.01. ai"e miiiimised and to note and itnplement
advice received fron) thc auditors.
Pagc 7

'he Cliiiiese Oi'¢'rsL'43 Chrl%tl#ii 1llJsion
'I'ru%tfi'J' Ri'port
Flninrjal Intlruinf ni
hJrt-lffth'¢% al1Jpi￿Il.1e%
risk.
CaJhJlvMi *
eipo%inbt IIiE c1￿1[11y.￿ ¢ll)h Iln*4 to tlie iibk Dr exihunbtre Dlc t7￿1￿111￿n￿ iiver4¢0% ¢¥oni)Illl¢
Tl)L Lhthrily u ¢iTriiki'rn'uiiie pi>liiy TLi¢YV¢% aiiJ LurrL*iilly IKi4 11.fiX7.?IVI iii 114uJd thul iJii b
Tlit cliiriiy's prill¢iiinl Iinuncial &8$crg Jrc bullliic¢J cTrili, giiJ indc nrkQ oihcr rc¢¢iviiblei.
QilnIL'o￿rtieS thtiJ cii%loincN.
l.iqHidin' ri.Tk
1)14rlDiuro i¥[ ltyfthrin*llfjn io thudlifir
'Pl)T
y tk. Iru4t¥C4 i)I'IIIL churity iMI
RLvII.SiLV

I'hi. C'hlnest Oi'c'rsL'MJ Chr15tlAn ￿llY*lurt
Th. Iru%l¢¢S (wlx7 lilso Ilic dir4*lor$ of'i"hc c".hiiiL* 0￿¢[￿al Lhrilli￿n Nlis%iwi fthr IhL purTr)hc5 of rompwiy
I￿￿,> urc. TLYPUYi%iblr fui PT4Viirinb* Ihi IwxIL¢N' rLsN>n arid IIIL fintsnLioI sthIL1￿'nLx in thiLuvJaniL 14'iilI IIIL UlliiLII
¢r¥¢ IIK. m¢ihTh45 (Ind prlnciplcs 115 lh¢ Chtsriiir¥ SORP..
pripJrc Ilie liiioiicinl %iiitiii¢iii% (In lh¢ Boin8 Covcern hn%i> iinli'%% 11 t% Inlippropnuie In pre.winc iliRI ihc
IT11%[ee￿ i1re ir%Trin%ililr liir kceiisng. .iile4iiol¢ QLcIMiiili11bT rw)ryl* Ihnl lire 41)n4¢ieDI lib *hs)w Niiil riplniii Ik
TIK'> lll¥ nlio ic4poiihiblc lor 5gl£biithrdinb Ili¢ Illi chnriinblè rompnthy lliid hLnrL Ii)r illkirib rcllsiinnhl
proi"¢d
iiiid Sibiied uii 115 b¢h&lfby.'
R¢*J Sic
Pll¥L'

The Chillese Ovei'seas Cliri5tian Mission
Indepeiident Auditor's Report to the MembeTrs of The Chine,se Ovei'seas Christian Mission
Opinion
We have audited the fin8ncial 5tatcnicnts of The Chinese Overseas Christian Mission (the '¢hariiy'l foi. the yeai.
ended 31 Decejnber 2023, whi¢h coiiiprise the Siutement of Financial A¢tivitie%, 13alancc Sheet, Staten]ent of Cash
Flows. and Notas to the Fill8rcial sta￿l￿ents, including a svminary of significant accouniiDU policies. Tht ftnancial
rcpoi"lit)g framewoi'k that has been applted in their piepai2tion is United Kingdom Accounting Standard8,
compi'ising Charities SORP I",RS 102 The Financial Repoiting Srdndai'd applicable in the UK and Rcpublic of
Ireland. aiid applicable law (United Kingdom Genei-ally Accepted Accounting Pi'actitt).
In ouy opsnion the fjnancial slaiements..
give a tiut and fair view of the state of the cljarity's zffairs as at 31 D¢¢ember 2023 and of its results foi. the yeai.
then cjded.
have bcen properly prepared in a¢¢ordance WiLh United Kingdoni Generally Accepted Accounting Practice. and
have been pi'epared in attoi'dance with the requirements of the Companies Act 2￿6.
B8sis for Op5￿10])
We conducied our audit in accardancc with International Standw'ds on Auditing lUt<) IISAs lUtC)18nd applicable
law. Our responsibililics undei. those standards are fuiiher desci-ibed in the Auditor's IEsponsibilities for Ihe audit of
the financial statements se¢tioll of our report. We are indcpendent ot the charity ii) atcordance wÉth the etliical
requiremen¢S that aiE IElevant to our audit of the fjnancial si8tements in the UK, including the FRC'S Fthical
Standard, artd we have fulfilled our othei ethical r&%ponsibilities in accordance with thL8e i'equiremcnts. We believe
Ihal the audit evidence wc have obtained is sufficient aiid appropi'iale to provide a b￿18 foi. our opinion.
Conelu5iolls rela¢iiJg to goiThg eonccr
We have notliing to repoi1 in respect of ilie following matter5 in i'tlation to which the ISA5 (UK) require us to report
to you wh¢Ke'.
the Ii'ustees use of tlie going concern basss of accounlin8 in tlie pi'eparation of the financial statemellls is not
appropriate., oi.
Ihe ti'ustees liave not disclosed in the financial statements any identified material unc￿.137￿tIes that may cast
significant doubt about the chai'ity's ability to cuntinue to adopt the going Gollcern basis of accounting for a
period ot at least Nclve months fLDm the date when the tinancial statemcnts aTe authorised for issue.
Other iiifoi'm2ti0
The Irustecs aiE responsible foi. the other inforiiMlion. Tlic other informatTon comprises Ilie informalion included in
the annual I'eporl, oilier It]all the finaiicial slalemcnts artd our auditor's repwt thereon. Oui. opinion on the financial
stalemttnts doe5 not cover the other informatiot] and, except ¢0 the extertt otheThvise cxplicitly 8taicd iEPOrt. we
do llot tXPlE55 atsy foiin of assuitnce conclusion Ihereon.
Pagc 10

The Chinese Ovej-seas Cliristian Missioii
IndependeDt Aiiditoi s Repoi* to the membe￿ of The Chinese Overseas Christiaii Missio
In connectioji wEth our audit of the financial statejnents. oui. IEsponsibility is to l'ead Ihe otheK infoi'mation and, in
doing so, Lonsidei wheihei. the olhei. information is materially inconslstent with the financial SLqiementS Ol. OUI.
knoivledge obiained in tlie audit or otherwise appears to be materially Inisstated. If we idenlthfy such inaterial
inconsi%t¢ncies or appaiEnt Inaierial Inisstate]nenrs, we are i¢qUilEd lo det￿Mine w,hethei' their 15 a matcrial
misstatement in the tinancial statemen15 or a material mi5slattinenl of the other iiifoimation. If, ba.%ed on the work
Ive have pei'lormed, we conclude thaL thert is a matei'i81 misslatemellt of this othey infoi'mation, we 8iE IEqujI'ed to
Epoit that fact.
We have noihing to Jeport in Ihss iegard.
Opinioll other ￿￿tterS pi'escribed by the Companies Att 20U6
In oui. opinion, based on the work undeitaken in Ilie course of Ilje aiidit..
the inloimgtion given in dje Trustees, Repoit foi. the financial year lor which the financial statements are
prepaiEd 15 ¢OngiStent with the finan¢ial ststements. and
the Trustees, Rtport has been prepaitd in accoi'dance ivith applicable legal iequii'etnents.
M#lttits on whif h we #it reqvtred to i'cport by excoptioll
In the light of oui. knowledgt and undcr5tanding of the company and its envitot]tneJ]i obtained in the cow'se of the
a￿dIt, we have not identificd material misstatements in ihe Truslees. Report.
We have noihing to report in IE5PeCt of the folloThryng matters where the Companies Act 2006 Tequires us to repoit io
you if. in Qui. opinion..
adequate accounting i'eLords have not bE¢n kept, or retuiTrs adequate foy our audit h&ve noi been received fi'om
bTanclies iiot visited by us., or
the fillaiicial siatanents air nol agreement with the a¢counting records retuims. or
certain dis¢losures of trustees iemuneration specified by law al'e iiot Jnade. or
we have not IEttived all the information and explanations we require lor ow audit.
RespoDsibilitlC5 of trustees
As explained more fully in the Statemcnt of Twstees, Responsibilities (set out on paEt 9), the trustees Jre
rcsponsible for the prepaT8tion of the fjnancial siatenienls aYJd foi. being satisfied that they give a tiue and fair view,
and for sucli in*i'nal conti'ol as the Ir￿tee$ deteimine 15 ne¢essary to cllable the preparat￿On of financi￿ statements
Ihat al'e free frotn materi81 masstatemenl, whethci. due to fraud or eri￿r.
Jn prep￿Illg the financial stateiiienis, Ihe liwstees are responsible fol. assessi￿8 the ch￿ity's ability to continue a5 a
going LonceTn, disclosing, as applicable, mattcr5 l'elattd to going concern and using the going concern basis of
accoTr]Iiling unless the tTuslee8 either intend to liquidate tlTre charity oi. to cease opej'ations, or liave Do reali8tic
iei'native but to do so.
Page 11

The Chinese over.seas Christian Missioii
Indepeiidettt Auditoi s Repoi't to tlie Membei'$ of The Chinese Overseas Chi'istian Mission
Audxtor's responslbilitie$ (or tlLe audi¢ of tlie fJnan£ial statemcnt$
Oui. objectives are to obtaiii i'easorMble assuranee about ￿phe(lIer the financial siatements as a whole aiE free fron)
ma￿rIal illisstaiement, wlielhei. due to fraud or ei'roi., and to issue art audiior's i'eport tliai includes oui- opinion.
Reasonable assuyaiice 1.% a hi£h Icvel of Lssurdnce, but is not a gllai'antee Ihat dn audit conducted in a¢GtsTdance ivith
ISA8 {UKI will always detect a rnateiial tnisytaiement when it exists. Misstatements can ai'isc from fraud or ejror
and are ¢onsidcred material if, indkvidually oi. in Ihe a￿L'egat¢, they ¢ould IE8sonably be expected lo ij)fluence the
econotnic decisions of users taken on the basis of these f)nartcial statements.
Matei'ial In3SStalements arising froin iiTegulaiities, including fi?ud, can bc difticuli to dele¢t by their very natuir.
As part of the audit planning process the engagement tearn specifically discussed tlie risk of material mi55tatemettt
ai'ising fi'om iii'egularities. in¢luding fraud. Thi% involved A revieiv of the social and £togi'aphi¢al tcrritories in which
the chai'ity oiiei2tC5, as well as di￿USSiOnS with the charily's ti'usltts, in Ol'der to gain an undei'standin8 of ihe laws
8nd IEgulations that aiE relevant ￿ the entity.
Work was carried out to idenlify evidence of any non-compliance with laws and ttgulations in¢luding discussions
i¥ith tru8tees, a revieM' of ¢orresponden¢e and invoices ti'om Ihe charity's soli¢itors, 3nd general internei searches for
any ncws articles whi¢h include the chai'ity's rjatnt. No cvidence of non-compliaiice was identified. Written
representatioJ)s w￿e also obidined fi'om thc twstte8 Collfjrming that tliey have no knowledge of any non-compliance
with applicable laws and re8ul8tions.
Thc engagement team have also undtitaken a deLiiled review of the chariry's Internal conts'ol enviioFllncnl to &sse8S
it's over&ll susceplibilily to fJ￿ud. The overall risk of misstatemellt due to fi'aud was asstssed as low. Our sub5tatttive
audit proceduies wtre lailoi'ed to specifically tai'get any identified areas of incirased Yisk.
The engag￿Ment team eomprises individuals with considei'able a￿lt experience. They are considertd to have the
requisite tec1￿1￿1 skills and Entity specific knowledge to r￿ilit81C detection of material Jnisstatemcnts arising dlle to
As part of an audit in accordance with ISAS {UKI. we exeitise professional judgeinent and maintain professional
SLeptlCj5m dii'oughout Ihc aiidiL W¢ 8lso'.
Idenlily and assess Ilie i'isks of malci'ial Jnis51atemeni of the financial ststements., wheiher due to fraud or e￿01.,
design and perfoKm audit pvocedure5 responsivc to those risks, 2nd obtsin audit evidence that is sufficient and
appropriate to pi'ovide a basis for oui- opinion. The risk of not detecting a nTraterial misstatement rebuliin£ fiDm
fi'aud is highci. Éh8n foy one resulling fi'om eill'or, as fi?ud may involve ¢ollusion, forgery, inlentional oin1￿10￿s,
mi￿￿presentatiOns, or the override of internal conti￿1.
Obtain an understandillg of internal conti.0￿ JEltvant to Iht audit ill ordei. to design audit PTo¢edures Ihat are
fippropriate in the circumstances, but not for tlje pui'Jx)se of expressing an OPiDiOn on the elftctiven&%s of (he
thai'ily'8 intei'tsal conti'ol.
F.valuate the appropriaieness of accouniinE policies used and the Ycasonablenes8 of (l¢¢OUrtting e51imates and
Telated disclosures made by the li"usttts.
Page 12

The Cliinese Over.seg$ Chi'istian Missioii
Iiidependeiit Auditoi s Repoi't to the Mtmbei's of The Chinese Overseas Chi'istian Miss1011
Conclude on iht appi'opriateneks of Éh¢ trusiees ube of the going cuncum b95is of accounting and, b￿d on the
audit cvidet)ce obiain¢d, wheiher a lTrat￿.i￿I un¢ei'lainty ex15ts related to ¢venL% or condiiions thal may cast
signifi¢ant doubt on the cliar&ly'S ability lo continue as a going ¢on¢em. If wt tonclude Ihal a material
unLertaiiily exists, we are requiitd to draw attentloll in our auditoi s repoit lo the ielated disclosures in the
financ&al statements or, it 5uLh disclosuiu are inadequate, to tnodily oui. opinion. Oui. eonclusions are based on
the audit evidencc obtained up to the dale of our auditor'5 repoit. 14owever, future events oi. conditions may
cause th¢ challty to cease to contiiiue ts a going concei'n.
Evaluate the ove1?11 pi"esentation, swcmre and tonlent of ihe financial st#iemenls, inGluding the dis¢losuiE4 and
wheihei. Ihe f)nancial statements IEpresent the underlying tYansEctiobs and events in a manner thal achieve5 fair
presentation.
Obtsin sufficieiil appiDpi'ia* audit evid¢nce lEgal￿Ing the financial infonnatitsn of the entities oi. business
activities M'ithin the ch31.iry to express aft opinion on thc financial statejnents. We are iesponsible foi. the
dÈrection, supei'vision and pei'formance of ihe charity audiL We iEmain solely responsible for our audit opinion.
We communic&te with those chai'ged wilh goveynapce Kcgai'din& among other matters, the planned scope and liming
of the audii and Si￿lfIcallt audit findiiigs, inGludin8 any sigttific8nt defi¢iencies ill inieiJal control iltst we identify
duiing 0￿r audit.
Use of our repoi't
This J'epoi* is Inade solely to the chai"itable company's tiustees, as a body. in accordance with Ch8Pter.l of Part 16 of
the Companies Aci 2006. Our audit woi'k has been uiidertaktn so that we miglit state to thc ¢hai"ity's liuste¢s Iliose
rnattet"s we al'e requiiEd to stale to them in an auditor's report aud loy no other purpose. To Ihe Cullest extent
p¢i'milled by law, we do iiot accept or ￿3￿me responsibility to anyone oth¢i' than the charitdble company and it5
li'ustee5 as a body, for our audit work, foi. t1￿8 repoTI, or for the opinions we have formed.
Michael Ei
For and en
yACA{
ialf of
lor Siatutoi'y AuditOK)
a¢1 J Fmery & Co Limited. Stawtory Auditoi.
22 St John Street
Ncwpurl Pagnell
Bu¢kingham&hii
MK16 8HJ
P8ge 13

Tho Chinese Overseas Chi'istian Mission
Stateineiit of Finaneial ActivitiL4 foi- the Year Ended 31 December 2023
(Including Inconie and fi xpenditui'e Accoiint and Statement ot fotal Recogiiised CyAinS and
Loss'es)
Uni-esti'ictcd
funds
Rtstt'icttd
funds
Total
2023
TotHI
2022
Note
Incolne #Ad FJnd(biViiitJJts fYoui-
Donat10115 and legacie%
Chai'itable aetiviiies
Investment income
1240,192
454,875
40,316
7,380
2,247.572
454,875
40,316
1,729,003
317,173
6,148
Total Income
2,735.J83
7,380
2,742.763
2,052,324
Exptnditurc on:
Charitable a¢iivities
2,517.812
9,993
2,527,805
1,917.712
rotal Ex￿ndItUre
Net incotnellexpcnditui't)
Net movcment in funds
2,5 17,812
9,993
2,527.805
1,917.712
217,57L
214,958
134,612
217,571
12,613)
214,958
134,612
Rtconciliatlon of f￿ndS
Total fwids brought forwaixl
Total tund5 Carried fonvard
5,355,J86
5,572,957
89,716
5,445,102
5,310,490
5,445,102
20
87.103
5,660,060
All of the cli￿lty's &Ctivibes del'ive from continuing operdtions during the abDve two PEiiods.
The fimds breakdown for 2022 is Show￿ in Jiote 20.
Page 14

'Iii. Clilnisl. 1)i'c'rSL'll% Cliri%liuii %1 Il%¥lon
Biil'ii)Ll, SIICLI JI .11 1)i('l￿tIll1l'r 2112.1
2U22
l.urrriil
I1￿K.Y
%.1,574
.7¥7,??I
2.1111¥.4
Ni'l ¢urrc'nl ¥ssrt8
1.7bN.?77
Ni'l #isels
S.44$ IV!
87.In3
14Y,711
Ilrtf4'51Tlttrd Incomt fwiiils
Tvl)I fiiiid
I'rii%iL
15

The Chinese Overseas Chi'istian Mission
Statement of CAsh Flows f()i' the Yeai. Ended 31 Decenibei. 2023
2023
2022
Note
Ca5kn floiv5 from operating xetlvities
Net cash income
214,958
134,612
Adjusttnents to c*sli llows fy'om ijoii-tasli itcms
Depre¢i2tio
Investment income
13,624
40,316
13,991
16,148)
142.455
188,266
WoJ'kirJg capit•l adjuslments
{In¢reaseydeertase ID Stocks
IIncreaselldecre)se in debtors
Increaselldecieasel in creditors
Net cash flows from operating a¢livitie5
{1,791)
{219,l561
171,1431
18,L701
92,856
159,204
(103,8241
386,345
CA5h lloivs fi'ottL investing Aetivities
Interest re¢eiv8ble and sirnilar income
Purcjiase of tangible fixed asscls
Net cash tlows fix)m investing &ctivities
40,316
136,506
6,148
3,810
6,148
Net Idetreaseyincrcase in cash and cash equivalents
Cash and ca511 equivalents at l Januaiy
Cash and cash equivalents at 31 Dtceiiibcr
{LOO,014)
1,787,223
1,687209
392,493
1,394,730
1,787,223
All of the cash flows are derived fi.om contirtuing op¢ratlOllS dursng the above two periods.
Pag¢ 16

The Chinese Overseay Chi'istiaIi Mission
Notes to tbe Financial Statements foi. the Yeaj. Ended 31 DÈceinbei' 2023
I Charity stAtU5
The chariry is a clia¥ity limited by guartntec and consequently does not have share capital. Ea¢h of the ti'ustee5 is
liable to contribute an amount not exceeding £10 toivards ihe asse￿ of the chaiity Ihe event of liquidalion.
lthc address of its i'egi5tered office is..
2 Padslow Avenue
Fis11￿me￿a
Milton Keyne%
Buckingliamshire
MK6 2ES
Z Attounting policies
Ctsneral information
Thc Ghariry is established gs a company Itmited by guaTantee and was incorpoixted in England and Wales.
Sbmmaiy of slgDificallt accolllltlllg policies And Iity accounting e¥titnate5
rhc priJ]ciwal accounting policies applied in the prepaiatiotl of these fin3nc&al slateinents are set oot below. These
policie5 have been Gortsistcntly applied to all the years pi'esented, unless Otherwi￿ slated.
Stattmellt of CO￿p￿1¥￿te
Th¢ ffinancial statements. have been p￿Pared in accordallce with AcGourtling and Reporting by Charities-. Statement
of Recoiiimended Pi'acti¢e applÈc&ble to ch￿.1(LeS prepai'ing thtiy account8 in a¢cordance witli tlie Financial
Repoiting Standard applicable ill the UK and Repiiblic of Ii'elalld (FRS 102) {efft¢tive l January 2015)- {Ch8rities
SORP (FRS 102)), the Companies Act 2006 and the Ch21'itics A¢t 2011.
Bgsi5 of preparation
'I'he Chinese Ovei'beas Christian Mission rneet5 die definiiion of a pl￿11¢ beDetit enlity und￿. FRS 102. Assets and
li8bililies al'e initially I'ecogwsed at historical cost or li'ansaciion value unless otherwise slated in the relevant
a¢¢ounling policy notes.
Goillg euncern
The fJnanc&al staternents have becn PTepared on agoing ¢oncern basi$.
In the ass65sment of the trusiees there are no Inaterial unGertainties about the chÈrity's abilily to continue as A going
eoncerll. The ii'uslees make this ass&ssment in itspect of a pej'iod of one yeai. from the date of approval of the
rjnancial stateineiits.
Illcojlle eiiiloiimellt%
All income is Lrcogniscd once the cliarity has entitlement to the incoill4 it is pi"obable that the income will be
received and the amount of the income iE¢Bivable can bc mcasuyed reliably.
Page 17

The Chiiiese Oveiseas Chi'istiAn Mission
Notes to tlie FinAnci#l Statements foR' the Year Elided 31 December 2023
Doiinliuiis rtFid legrtcie
Donations W'e recoEnised ¥vhen the Ghttrity has been notified in ￿lting of both the amount and s¢itlemeiil dale. In
Ihe event that a donation is subject to conditions that requiie a level of perfoimiance by the char&ly befoi'e the charity
is entitled to the fvnd5. the thncome is deferred and not i'ectsgniscd until either ihose COnd￿tiOnS are hlly irtet, or the
fulfilment ot those condition5 is wholly within the conti'ol of tlie charity and it is pl￿babIe that thcse conditions will
be tslfilled in the Tepoi'ling peviod.
Gtfts iii kiitd
Gifis in kind aiE Yecogni%ed as income when the chaTily has conti'ol over the iiem, any ¢OrtditiDj￿ associated with the
doiiated itcm have been met, and the JEc¢ipt of ec(JnomiG benefit from tjie use of the item by the chai'ity is prob&ble
nd Can bt measui'e(I ￿eliably.
Oo i'eceipt, 8ift5 in kind are recognised et the amounl that the chai'ity would have been willing to pay to obtain
tquivalent services or facilities in an 'at arms, lengih ti3nsaction' on tlie open mai'ket. A coi'responding amount is
then recogTJised in expenditure oi. fixcdl¢uTrent a&sets 1vith￿ the pei'iod of itceipt.
Gifis in kind are allocated tt) tlie appropi'iaie fund in aceordanw with any conditions stipulated by the donor.
Chrtrilftble uc¢iviile.f
Income froin chaiilable activities including ix)ok sales and iDcome from conferences, Is Tecogllised when tht goods
oi. sei'vices air physically provided, it is probable that the income will be received, and it cali be measuiEd wsih
reasonable a¢cuY&cy.
Exp¢iiditure
All expenditure ss recognised on¢e theiE is a legal oy cthnstructive obligaiion to Ilial txpendilui'e, il is pyobable
settlement is requiiEd aiid the ainount can be mcasuiEd ieliably. All costs art allocated to the applic*ble expenditure
hcading thJl 8Egregate siintlai. costs to that categoiy. Where costs cannot be diirctly atti'ibuted to pW1￿C￿lar lieadings
they have bcen allocated on a b8sis Consistent with the use of i'esources.
All rcsoui'ces tspended aiE inclusive of iire¢ovci3bl¢ VAT.
Chnrilttble uctivilles
Chaiitable expenditui'e cotnpi'ises those costs incui'red by the charity in the delivei'y of its activities and services for
its benefieiai'ie5. It includes both cosis that can be allocated diiEctly to such ueiivitie5 artd Ihose costs of an indirect
atui'e necessaTy io support thejn.
Suppoi* costs
Support costs I￿¢]￿de centixl fun¢tiorts &nd112v8 been allocated to A¢iivity ¢OSt categories on a basis consisknt with
the use of re&)llrces.
Govei'iillnce ctssts
These include the costs attributable to the chaillry's Cornplian￿ with Gonstilutional and statlltoiy requiiEment$,
illcluding audit, strategic management alid tiustees, Ineetings and reinibursed expenses.
Page 18

Tlie Chineye Ovei-seas Clii'istiall Missioll
Notes to tlie Finaiicial Statements for the Yeai. Elided 31 Deceml)ei' 2023
Taxation
The Gharity 15 considered LO pass the tests sel out irl Paragraph I Schedule 6 of the Finan¢e Act 2010 and Iherefore it
meets the definiiion of a ch&i'thtable company foi- UK coipoiation lax purposes. Accoi'dingly, the charity is potentially
exempt from iaxation in rtspc¢t Df illcome oi. capital g&iDs received thpithin ¢ategorie8 covered by Cliapter 3 Pari I I
or the Corporation TJX Act 2010 01. Seelion 256 of the Taxation of ChaiEeable Gains Act 1992, to tht extcnt that
such it)come oi. gains aiE applied exclusively to chai'itable puiposes.
Tangible fixed assets
Individiial fixed assets fjre initially recoidtd at cost, less any subsequent ac¢umulated dcpi'eGiation and proipision5
for impaitThent.
Depi'tetAtioll amortisation
Depreciation piovided on laiigiblt fixed assets so as to write off the cost or valuation. less ally estimated I'esidual
value, over ilieii. expected usefvl economic lifc as follows..
Asset cl8SS
L.and and buildillgs
Moior vthicles
FuinituiE, fittings and equipment
Depreciation ￿]￿h￿d I￿te
In accordance with the propeity
250/0 on cosl
At varying l'ates on cost
Stock
Stock is va]ued ai the loiver of eost and cstimated seS1iAE price legs cests to complete alld sell. aftei. due irgard for
obsolete and slow moving str)cks. Cosi is deiermincd using the weighted aVe￿e method.
Tx'ade debtOX'5
Trade debtOTS air amounts due from ¢u$toiners for meTch&ndise sold oi. seTviees pwfoi'med irt the oidinary COUTse of
busine5S.
Tizde debtors are reco8n&8ed illirially at thc transaction price. They air subscquentjy tnea5ured at amonised cost
ustng the efycclive iniertst method, l&%s provÉsion for in]pairnienl. A pi'ovision for the inJpairmtnl ot 112de dcbtor.q is
c8tabli5hed when their 15 objective evideiice that the tl)arity will not be able to collect Bll amounts due according to
the origrinal teiibs of th¢ receivables.
Cash and eash equivalellts
Cash and ¢8sh equivalents coinp115c cash on hand and ¢all deposils, arnd othei. sliorl-tei'm highly liquid investsiients
that are readily convej'tible to a known amount of Lash and are subject to an insignificant risk of change in valut.
Page 19

Tlie Chinese Overseas Ch)'i5tiaD Mission
Notes to tlie Ilillancial StaÉtinents foi. the Yeai. Elided 31 December 2023
I'i'Adt er¢dltors
l-rade creditoi's are obligalsons to pay for goods or servic£s that have becn acquircd in the oi'dinary coui'se of
busine55 from 5upplitJ3. Accounts payable are clabsifled as cui'rent liabilitics if the ¢haYity does noi have an
unconditional l'ight, at th¢ end of the repoi'iing period, to defer stttlernent of the uEditor for al leasl twelve months
after the rtporting date. If thei'e is an uncunditioiial right to defer settlemeni for at least twelve Inonths after the
I'eportinE dat¢. they piEsented as non-curi'ent liabilities.
Ti'ade ciydilors ai'c recognised initially at the tl2nsaLtion price and subseqllenily measured at atnortised cost using
the efte¢uve interest method.
Foi'eigii txth2nge
ri'ansaclion.% irt foyeign currencies ait Yecorded at the rate of exchange at the date of the ts7n5aclion. Mox)etary asset5
and liabilities denoniinated in foreigti CUlTencies at the balance sheet dale are reported at ihe i?tes of ex¢hange
p￿valling at that date.
Pensions ¥nd otkner post rctii'enjeiit obligations
The Chariiy opei¥ies d defined contriLiution pension 5ch¢ine for tht betiefit of it's einployees. Conts'ibutions paydble
to the charitable company's pension ￿h¢me charged to Iht Statement of Financial Activiiies in tlie pei'iod to
which thcy relate.
FinancÉal instruments
clll.s.fificftlioii
Financial assets 8nd financial liabilities are recognised when the charity becomes a party to the conti?ctual
provisions of the instruiiient
Recugiiiiioii iiieasiii'efrfrteiiÉ
All fsnancial assets and liabilities initially measui'ed at liwisaclion PKice (including transaction c05ts), except for
those finan¢ial asse15 classified a% at fail. value illl'oLTruh profit or loss, which are initially measwed at f8ir valuc
(which is normally the transaction price excluding Iran%action c()sis), unlu$ the arKangement constitutcs a financing
transaction. Tf an aiyangement conslitutes a financing trans8Ction, the financial Èssel or financial liability is measured
at the pi'escntv4lue of the fulure pdyment5 discounted at a market rate of illteKst for & similai. debt instsument.
Fizjattcial asstts and liabilities aiE only offset in the statement of financial position when, and only when there exists
a Icgally enforceable ritht io set otrthe recagnised ainounts and the charity intends eitlier lo settle on a net basts, or
to realise the asset and sedlc the liability simultaneously.
Finarttial assels arc derecoFJiised when and only when a) Ihc coniractual l'ights to the cash nows fiy)m Ilie finan¢i81
asset expire or are settled, bl the chai'ity trinsfers to another party substantially all of Ihc risks and i'ewards of
owJ]ership of the financial asset, or ol the eliai'ity, despite having i-elaitied $omc, but not all, significant risks And
rewai'ds ol'ownership, has tr8nsfctTed conlrol of ilie assel lo another party.
Finan¢ial liabilities are d￿Ecognised only when the obligation specified in the conti*cl is discharged. ¢ancelled or
expii'es.
Page 20

The Cliinese Oversea$ Chi'i8ti8n Missioii
Notes to Ilie FillanciAI Statements for tlie Year Ended 31 Deceinbei. 2023
Debt lJislriiiiieMIs
Debt instrumen¢S which meet Ihe folloivin8 conditions are subsequently measwrd at amoitised c05t llsittg the
cffe¢tive intei'est melliod..
lal-I'hE contT8Ctual retuill to the liolder is {1) a fL%ed amount,. lill a positive fixed Taw or a positive variable rate- or
(iiil a Gombit)ation of a p￿ill￿¢ oi. x negative fixed rate and a positive variable late.
Ibl Tlje contraci may provide for repayments of tlit principal oi" the retui"n to the linldei. (but not both) to be lirthed to
a single I'elcvant observ8ble index of general p￿lte inflation of the curitn¢y ill which the debt instiurnent is
denominated, PTovided su¢li links are not leveraged.
{cl The contYaGI inay providc for a detetininable variation of the i.ctum to the holder during Ihe life of the thnstiUTnent,
pi'ovided that lil the t)ew ￿te satisfies eondition la) tnd the variaiion is rtot conlinEent on fvluir eveiits otlier thtn (l)
a change of a coniiaetual vwiable l'ate. (2) to pi'otect thc holdei. against eirdit delerioi'atiun of the issuer,. (3) changes
in levies applied by a centi21 b8nk or arising from changes in relevant tsxalion or law. oi. lill the new i?te is a market
l'ate of iiiltirst and satisfi¢s condition {al.
{d) There is no contractual provision tliat could. by its terms, result in the holder losillg prin¢ipal amounl oi. ally
inteiEsi anributable to the CUiTent p¢riod or prior periods.
(el Contractual pJi)visions that perjnit Ihe issuei. to pitpay a debi instrument OT perinit the holder to put it back to thc
issuer before rnatui'ily are not contingent on htt]re event% other Ihan to protect the holder against the ci'edil
deterioration of ilie issuer or a change in control ot the issuer, or to prottct tlic holder oi. issuey against challges in
levies applied by a central bat]k or ￿'151￿g fKoni changes in I'elevant taxation oi. l#w.
lfj ConU?Ctual piDvisions may peTtnit the extension of the terin of Lhe debt insts'ument, pi'ovided tliat the rett]m to
the huldw. and any other eontit¢iu&l piN)visions applitable d￿Ing the extended term satisfy the ¢onditiot15 of
paiagraphs (a) to (c).
Debt inst¥uments thal arc c12ssifsed as payable or receivable within one year on initial recognition and which meet
the above conditions ale meaSUTed at the undiscounted atnount of the c&sh or other ¢onsiderAtion expected to be paid
or received, net of impaim)ent.
3 Income from donatiotjs alld Itg&ties
Ullr¢strieted
fund$
Restrlcted
Total
I'otal
2022
Gtntral
Donation$ 8n(I legacies.
Donations from individwdls and
cliuithes
2,240,192
2.240,192
7,380
2,247.572
2,247,572
1,729,003
1,729,003
7,380
Page21

The Chinese OverseAs Christian Missiuii
Notes to the Fillxncial Statements for the Year Ended 31 Deeembei. 2023
4 Illcume fi'om chAI'itabl¢ attivitie5
Unrfstrleted
fullds
Total
2023
Total
2022
Gentr21
Camps and confeiEn¢es
Missions and honoraiium
Book sales
Education and ti'ainiiig
358,186
39,285
57,394
10
358,186
39,285
57,394
io
230,359
32,453
54,331
30
454,875
454,875
317,173
S Inve5*ment ineome
Unrestricted
funds
TotRI
2023
Total
2022
General
lllterest receivable and similar income.
Intc1'￿t receivable on bank deposits
40,3 16
40,316
6 Expellditui'e ehgy'ltable activities
Unresti'ieted funds
Rcstricted
ds
Total
2023
Total
2022
Desigmated
General
Mi85ion8 and
honoi'aiium
Camps and confei'en¢es
Book sales
Lducatien and training
11,476
478
272
62
2349.182
97,879
55,5 18
2,945
2,360,658
98J57
.55,790
13,000
2,527,8Q5
1,769,695
79,983
45.521
22,513
9,993
12,288
2,505,524
9,993
1.917,712
Page 22

The Chiliese Overseas C"hristiAll Mission
P4otes to the Financial Statements foi. the Year Elided 31 Deceinber 2023
Aetivity
undei'talcen
Gi'2nt funding
of activlty
Aetivity
sllpyoi't costs
To¢AI
2023
Total
2022
Camps and conf¢Lences
NIi85ions and
honoi'aiium
Book sales
Education and tTaining
75,609
22,748
98,357
79,983
1.814,665
42,886
5,911
1,939,071
545,993
12,904
3,007
584,652
1360,658
55,790
1,769.695
45,521
22,513
4,082
4,082
2,527,805
1.917,712
The expenditure analysed above include5 8oveman¢e snd support ¢ost$ of £584,65212022- £441,940) which relate
dircctly to charitable activities. See note 7 for fuNher details.
Page 23

The Cbinese Ovei-seas Chrisliall Missio
Notes to the FiiiaiieiAI St*temeiits foi. tlie Year Ended 31 December 2023
7 Aiialy5is of governance and suppoyt costs
GovtYnaneÈ and support C05tS Allocated to ¢b&iitablt attivilits
Pi'¢mises
sts
itttliidiug
epr¢eiation
GoverTr211ee FiiiAnce
costs
costs
Stafr
costs
Admin
tosts
TotAI
2023
Total
2021
Missions and honorarium
Camps atjd conftiEnces
Book 8ales
Education and ti'aining
9.902
15,2741 165,560
(220)
6,898
{125)
3,913
129)
912
5,648)
10,603 Z 177,283
218,740
9,L13
5,170
1,205
157,065
6,544
3,712
865
545,993
22,748
12,904
3,007
407,830
18,432
10.490
5.188
234
54
2J4,228
168,186
584,652
441,940
GovtrnaD¢e 2nd support costs ptr fund
UiiYestrict¢d fu￿d5
Totsl
2023
Total
2022
Designated
C*eneral
Staff costs
Wag&% and sal81ies
Social secui'ity costs
Pension costs
Other siaff costs
Audit fee
Audit of Ihe financi315tatement5
l.egal and pi'ofcssinnal fees
Depi'eciation, 8mortisatTron and oiher
similar costs
(roveTnance and support costs
145,160
11,719
10,068
10,336
145,160
11,719
10,068
10,336
127,059
10,925
8.818
21,082
8,566
2.037
8,566
2,037
7,776
2,771
12,288
1,336
383,142
572,3C)4
13.624
383,142
584,652
13,991
249,518
441,940
12,288
8 Net Èncomittgloutgolng r￿D￿l'Ce5
Net incoming reMui'ees for the yeaL' include:
2023
1022
Dcpreciation of fixed asset5
13,624
13.991
Page 24

'rhe Chinese OverseAs Cliristian Mission
Notes tu the Financial Statejnents foi. tlie Year Ended 31 Decembei, 2023
9 Trustees reillunei'ation and expeiiscs
No trustees, nor any persons coiinected with Iliejll, liave t'eceivcd any IEmuneiation from the charity during the yeai..
No trustees have received ally reimbursed expenses oj. any oiher benefits fram the chai'ity dui'ing tlie yeai..
Donations made by the ii'llstees witliout any conditions attached iotalled £5,000 foi. the year12022- £Nill.
10 Staff eost5
rhe aggre£&te payroll costs were as follows:
2023
2022
Staff tosts durlllg the year ivere-
Wages and salarie%
Social security costs
Pension costs
1,213,450
1 18,772
104,250
940,644
91,897
80,636
L,436,472
1.113,177
The monthly average numbei. of pei3ons (itL¢luding settioi. management team) employed by the charity during the
year was as follows..
2022
2023
63
54
All depai￿￿entS
61 {2022. 521 of thc above employees parliGipaltd in the Defined Conts'ibulion PensioD Schemcs.
No tmployee re¢¢ived emoluments of mort than £60,000 during the year.
The total i'emuneralTron of the key iDanagement peiEonntl ot the Charity was £89,105 {2022.. £107,819).
11 AudiÉoi's' remuneration
2023
2022
Audit of the f￿nancial statements
8,566
7,776
12 Tax&tTOll
The chai'ity is a registeitd charity and is Iherefoi'e exenipt lyom taxatien.
Page 25

The Chiiie5e Overseas Chi'istiaii Missioii
Notes to Éhe Finaiicial Statements foi. the Yeai. Ended 31 Deceinber 2023
13 Tangible fixed xsset5
And
Iiuildillgs
Fvrniture
equipinellt
Motor
Total
Cost
At l Janiiary 2023
Addition%
3,790,656
33,034
50,354
3,472
15,566
3,856,576
36,506
At 31 December 2023
3,823,690
53,826
15,566
3,893.082
Deprecl&tion
At l January 2023
Charge foi. the year
At 31 December 2023
135,167
12,288
49,618
736
14,966
600
199.7fj1
13,624
147,455
50,354
15.566
213,375
N*t booli value
Ai 31 Decetnber 2023
3,676,235
3,472
3.679,707
At 31 Decembei. 2022
3.655,489
736
600 3,656,825
Included within the llet book Value of land and buildings above is £3,676.235 {2022.. £3,655,489) in respect of
freehold land #nd buildings aiid £Nil (2022- £Nil) in respect of leaseholds.
A4 Stoek
2023
2022
53,574
Stocks
15 Dtbtor5
2023
2022
Trade debtors
Pi'epaymenls
Other debtors
3.51Q
33,415
349,963
386 888
29,248
138,484
167.732
Fage 26

rhe Chine4e Ovel'seas Cl)ristian Mission
Notes to the fi inancial Stateinents for the Year Ended 31 Decembei. 2023
16 Creditors: ainount5 fRlllng due ivithill one yeai.
2023
2022
Tizde ¢reditors
Other taxalien and social se¢urity
Oiher creditoi
Accruals
6,656
27,412
9,806
95,235
10,609
21,168
160,393
28,082
220,252
149,109
17 Obligations lludei. leAses hire purehast contr4ets
Optra(ittg lease tnnimitments
Total fvturc miniinum lease paymtnts ullder non-￿nCellabIt operating leases aye as follows..
2023
2022
SJAnd aJ]d buildings
Within one yeai.
Between one and five years
106,825
19.000
64.002
125,825
64,IK>2
lkne total of operating lease p&yJnenls )"eco£nised as an expense within the SOFA totalled £112,965 {2022.. £77,047).
18 Pellsioll 2nd other schtJne5
Defiued contriblltioll pejjsiou stlJeJn¢
The thai'ity opti￿te$ a defined contyibution pension scheme. The pension ¢ost charge foi. the ye8r iepyesents
contributions payable by the chaiity to the scheme and amounted 10 £104,24912022- £80,636).
19 Committnellts
Petision tojnmitjnetits
The fthnancial 51atcmenl8 include provision foi. employey's pension ¢oDtributions ac¢i'utJig in the period which have
yet to be paid ovey to the scheine providei". Commitment5 provided for in Ihe accounts amounied to £19,80612022-
£6,906). Commitments not provided foi. in tlie accounts amounled lo £Nil (2022- £Nil).
Page 27

The Chinese Overseas Cliristian Missioii
Notes to tbe Finaiicial Statements foi. tlie Yeai. fi nded 31 Deeeniber 2023
2Q Funds
Balgijce at 31
Detemhtr
Balance #t I
JanuAry 2023
Incomiijg
iysoui'ees
Resoui'ce5
expended
2023
Unrestrieted funds
Ggiiérftl
Genci?I fund
1,699.897
2,735,383
{2,505,524)
1,929,756
Desigiioled
Designated fiind
Total Uurestricl¢d funds
3,655,489
12,288)
3,643,201
5,355,386
2,735,383
{2,S17,8121
5,572,957
Rt$trlcted fuKds
Restricted fund
89,716
7,380
(9,993)
87,103
2,742,763
12,527,805
5.660,060
Total funds
5,445,102
Balartce at 31
December
Rt80ure¢s
expellded
Januai'y 2022
'¢50urtC5
2022
Unrestx'5eted fllnd5
Cyeiierol
General ￿ftd
1,564,131
2,023,865
11,888,099)
1,699,897
Desigiiuted
Designated fund
TotAI unrestricted futsds
3.667,777
(12,288)
3.655,489
5,231,908
2,023,865
(1.900,3871
5,355,386
Restritted funds
Restricted fund
78,582
28,459
17,325)
89,716
5,445,102
Total fuDd%
5,310,490
2,052,324
1,917,712
Page 28

The Chinese Overyeas Chi-istian Mission
Notes to the Financial Stateinents foi. the YeaL' Ei nded 31 Decembei. 2023
The specific pwyoses for which the funds are to be applied as fullows..
Utiresti"icled general fund..
Unre511'icted geiieral funds can be Used in a¢¢ordanc¢ with Ihc chai'itable objectives ai the discretion of the tiwstees.
Restricted thnd..
Re811'&cted funds ¢omprises follr di8tin¢t fimds-
11 The ￿hOla1'Sh1p fimd which exists to help gifted and dedicated aiillese Chrlstians to IEceivc theological and bible
traininE at a ¢ollege with which thc mi55ion is in syillpathy.
211.he missionary in pieparation fund for the Ii'aining and melltorsnE of students that w&ll potenlizlly join the COCM
staff team
3) A fimd to suppoit thc development of a ministry based in Bath, England.
4) A filnd comprising donation8 and legacies itccived specifically to fund the Costs of renovating the chsrity's
headqua1t￿. premises Milton Keynes
lJnrestri¢ted designated fund..
The designated fund CODiaiiis the f)tchold land and buildings owned by the Missioji. Moveinents on the fi]nd during
2023 and 2022 fePiE5enls the arLllual depi'e¢iation charged on said properties.
21 All2ly5is of net assEts betw¢eJJ fullds
Unr¢stri£ted funds
Rtslri¢t¢d
[ll￿d8
Gelleral
Designgted
TotAI fuuds
Tangible fixed assets
CuiTent 8%8ets
36.506
2,041,103
1147,8531
1,929,756
3,643,201
3,679,707
2,129,462
{149.109
5,660,060
88,359
{1,2561
87,103
-l-otal net assets
3,643,201
UTJi'estricted funds
Total *¢in(18 At
31 Dctember
2022
Restricted
funds
Ge￿eral
DtsRgoxted
Ta￿g￿b]e ftxed assets
Cun'ent assets
1,336
1,918,813
(220,252)
1,699,897
3,655,489
3,656,825
2,008.529
1220,252
89,716
Total nct assets
3,655,489
89.716
5,445,102
Page 29

The Chillese Overseas Chrisliall Mis.4ion
Notes to tlie Fiin2nci#l ,St2tcments foi. tlie Year bnded 31 December 2023
22 Related pxity tralls%ctiolls
Dui'ing the year the chai'ity made the following ielated party transactions:
The ClJiiit*t Ovei's¢#s Chi'ists#n Mis51Dn (Ti'iist)
(The ¢hai'iiable Irust I￿.OUgh which the chaity'% operations were piYviou8ly condttcledl
In 2013 all of the cliai'ity'.% as%ets attd opcrttions wei'e li'ansteri'ed lo tliis Inco￿Orsted chayity fiy)ID a trust. A sinall
nuinbtr of bank accounts iet)iait] in the name of the oiigiiial ¢haTltable Irusl. The money held in these account%
belong5 to the Limitrd Company and Iratisferred by Ineans of a gift in 2013. The nei balartee of these accounts
at 31 Deeembei. 2023 is £2,475 12022.. £8,952). These w'e included withiii the balante slieet of the Limited
Company. At the balance sheet date the amouiii due tolfrom The Chinese Ov¢i'seas Christi8n fvIission rrrust) was
£Nil {2022- £Nil).
Pa2¢ 30

The Chinese Overseas Chriytian MissiUJi
Detailed Statejneiit of Finaucial Activities foi. tlie Yeal. Elided 31 Deeeinbei. 2023
2023
2023
Uiirestritted
Restrietcd
fullds
TtstAI
2022
Gelkcral
Totxl
Doiioli011s uiiillegttcies
Appeals &nd dollations
Appetils and donations
7,380
7.380
2,240,192
2 247,5n
28,459
1,700,544
2,240,192
2,240,192
7,380
1.729,003
2023
Ullrtstrieted
funds
2023
TotAI
2022
G¢lleral
Total
CliurEtttblé rtclivilies
Book salcs
Camp5 and Lonfeirnces
Edueaiion and trainin
Missions aiid hortorat'ium
57,394
358,186
LO
39,285
57,394
358,186
io
39,285
54,331
230,359
30
454,875
454,875
317.173
2023
Unrc5tritted
ruuds
2023
Tot*1
2022
Gelleyal
Totsl
IpivesiiKeFII iiicoitrie
Interest ort cash dep051ts
40,316
40,316
40,316
40,316
6,148
6,148
P£ge31

Tlie Chinese Overseas ChristiaIi Mission
Detailed Stateinent of Financial Activities for the Year Ended 31 December 2023
2023
Uni'estrfcÉed funds
2023
Re5trieted
Total
2022
Designated
General
Total
Cliftrliftble ucliviliÈ
Wages and Salaries
(Inissionary)
Staff NIC lrni55ionary)
Mi$sion&ry staff
pensions (defjned
contr&bulittn
Other missionary sta
costs
Book purchases
Ti'ainitlg and scholarship
1,068,290
107,053
1,068,290
107,053
813.585
80,972
94,182
94,182
71,818
117,292
41886
117,292
42,886
82,984
35,030
9,993
9,993
965
17,325
2,025
Catering
Work and li'avel
expen.qes Imissionaryl
Staff housing allowance
and accotnniodation
C'onftrences
Publication5 and
magaziJie5
Overseas boai'd- Hong
Kung
Wage.% and salaries
l.%uppoi'l slaty)
StafFNIC (support 5tafQ
Support staff pensions
(defjned coolribulion
Other sopport stsff ¢osis
HQ esiab12slun¢ni costs
Otfice &1pe￿e$
Otlier cos
'ri?vel expense5
Isupwrt staft)
The audit of Iht
charity's annual
ccounts
Legal aiid pl￿fe&S1o￿al
fee5
905
85,3 17
85,317
55,790
312,.329
312,329
74,643
224,775
59,525
5,793
5,793
6.953
24,410
24,410
24,990
145,160
145,160
11,719
127.059
10,925
10,068
10,336
153,212
51,432
170,407
10.068
10,336
153,212
51,432
170.407
8,818
21,082
175,481
42,877
126,662
13,739
13,739
9,238
8,566
8,566
7,776
2,037
2,037
2,771
Page 32

The ChiJ)ese Overseas C.hi'istffi4in Mission
Detailed 8t#tement ofFinancial AttÉvities foi. tlie Ycar Elided 31 Deeeinbei. 2023
2023
2023
Uni'e5ti'itttd fuiids
e51ricted
fullds
Total
2022
Dtsigllattd
General
Total
Foreign currency
{gains)Ilos%es
Depreciation of tangible
lixed assets
Depreciation of tangible
rixed assets
15,6481
15,6481
{104,740)
12,288
12,288
12,288
1,336
2,505,524
1,336
1,703
1,917,712
12,288
9.993
2,527,805
Page 33