## **Trustees’ Annual Report for the period**
## **From 01/08/2021 Period start date To 31/7/2022 Period end date Charity name: Confucius & Tao Association (UK)**
## **Charity registration number: 1138997**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|OBJECTIVES OF THE CHARITY :
The objects of the charity are: 1. To advance
religion for the public benefit by promoting
Buddhism and the teachings of the great Tao 2.
To promote the mental or spiritual
improvement of the community for the public
benefit by sponsoring the teachings of
Confucius 3. To promote religious and racial
harmony for the public benefit by enhancing
mutual understanding amongst all races and
cultures in the United Kingdom 4. To relieve
those in need by provision of charitable,
physical or moral assistance, for the public
benefit|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|The trustees have considered their duty as
outlined in Section 4 of the Companies Act
2006 to have due regard to the Charity
Commission’s guidance on public benefit. The
purpose of the charity is enshrined in its
objectives as outlined above. The trustees
ensure that this purpose is carried out for the
public benefit by delivering a range of suitable
activities.|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees are responsible for the general
control and management of the charity. One
person is appointed as the Chairperson of the
trustees and duties and responsibilities are
allocated amongst the trustees and members.
Meetings of the trustees are held throughout
the year to deal with matters relating to the
running of the charity and activities for
members. The charity does not have any
employees as its work is carried out by the
trustees and its members and volunteers.|
**Additional information (optional)** You may choose to include further statements where relevant about:
SORP reference
Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|During the period under review, the
organisation continued with its usual charitable
activities .The tea bar Lotus Bloom Café has re-
opened in June 2022 after the renovation was
completed. Most charitable activities including
fundraising have been conducted online where
possible including seminars, praying and
chanting post COVID-19. There was no further
progress in the year on the re-submission of
the application to the local Council for the
change of use of the property. All formal
activities relating to using the premises as a
place of worship until the outcome of the
future resubmission of the planning permission
is known have continued to be suspended
during the year to date. The charity operates in
London but has informal links with other
independent charity organisations based in
Birmingham and Glasgow. Fundraising was
carried out in those locations for the charity|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41|
|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41||
|---|---|---|
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|The charity had a surplus of £33981 ( 2021
Surplus £13,321) ) for the year. Total incoming
resources for the year amounted to £112,452 (
2021 £78,158 ). As 31 July 2022, the total
reserves of the charity amounted to £454,502
(2021 £416,129).|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The trustees have examined the requirement
for free reserves which are those unrestricted
funds not invested in fixed assets, designated
for special purposes or otherwise committed.
The trustees consider that there are sufficient
unrestricted funds to carry out the activities of
the charity and to meet its running costs for at
least 6 months ahead|
|Amount of reserves held|Para 1.22|Each of the above trustees is also a member
and director of the company and each is liable
to contribute an amount not exceeding £1 in
the event of the companybeingwound up.|
|Reasons for holding zero
reserves|Para 1.22||
|Details of fund materially in
deficit|Para 1.24||
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|The trustees have assessed the Going Concern
position of the Charity in the light of COVID-19
and appropriate measures have continued to
be in force to ensure the safety of all
supporters and those who have dealings with
the organisation duringtheyear under review.|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
**Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|The charity’s investment powers are governed
by the Memorandum and Articles of
Association. This permits the charity’s funds to
be invested in investments, securities or
property as may be thought fit but only after
obtaining appropriate advice from a Financial
Expert.|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Unincorporated association|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Name of any person|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other
## **Reference and Administrative details**
|Charity name|Confucius & Tao Association (UK)|
|---|---|
|Other name the charity uses||
|Registered charity number|1138997|
Charity’s principal address 47 Shernhall Street, London, E17 3EY
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||MR MUN HOONG
CHIN||||
||CAIYING HE||||
||TAK YEUNG
CHEUNG||||
||HUI GOH PHUA||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
## – Corporate trustees names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
|Description of the assets
held in this capacity|The charity was successful in purchasing the Freehold property
at The Lord Brroke,47 Shernhall Street, Walthamstow in July
2014. The purchase of the property was completed in August
2014. The cost of the Freehold Property was £740,000. With
related professional and other costs of £4,259, the total costs of
the Freehold Property amounted to £744,259. Further costs
were spent on improving the property and converting it into
suitable accommodation for the charity, including completing
the fitting out of it with fixtures and equipment. In the year
under review, costs were incurred relating to the work needed
to create a tea bar on the premises. At 31 July 2022, the total
costs incurred amounted to £834,712 ( Note 2 ). Depreciation
has been provided on the buildings element of the cost. The
original purchase and subsequent improvement costs were
funded by donations specifically for this purpose. As at 31 July
2022 the total loans relating to the property that have been
generously provided by supporters of the charity amounted to
£126,780( 2021 £190,780 ) These are interest free loans with no
fixed repayment terms.|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects||
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets||
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
Other o
tional information
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
|**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**|H.G.PHUA||
|---|---|---|
||HUI GOH PHUA||
||
TRUSTEE||
||07/06/22||
||07/06/22||
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)**
## **REPORT AND ACCOUNTS**
**for the year ended 31 July 2022**
**COMPANY NO: 07323872 (ENGLAND & WALES)**
**REGISTERED CHARITY NO: 1138997**
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) REPORT AND ACCOUNTS For the year ended 31 JULY 2022**
## **CONTENTS**
||**Page**||
|---|---|---|
|Officers and professional advisers||1|
|Trustees’ report||2-4|
|Independent Examiner’s Report||5|
|Statement of Financial Activities||6|
|Balance sheet||7|
|Notes to the accounts||8-11|
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) OFFICERS AND PROFESSIONAL ADVISERS For the year ended 31 July 2022**
|||PAGE 1|
|---|---|---|
|**Trustees/Directors**|D M H Chin ( Chairman)||
||C Y He||
||T Y Cheung||
||H G Phua ( Treasurer )||
|**Company Number**|07323872 (England & Wales)||
|**Registered Charity Number**|1138997||
|**Registered Office**|The Lord Brooke||
||47 Shernhall Street||
||Walthamstow||
||London E17 3EY||
|**Charity’s address**|The Lord Brooke||
||47 Shernhall Street||
||Wathamstow||
||London E17 3EY||
|**Independent Examiner**|Mei Sim Lai OBE DL FCA FCCA||
||LaiPeters & Co||
||Chartered Accountants||
||Suite A||
||6 Honduras Street||
||London||
||EC1Y 0TH||
|**Bankers**|HSBC Bank||
||Canada Place||
||Canary Wharf||
||London||
||E14 5AH||
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’ REPORT**
**For the year ended 31 July 2022**
PAGE 2
The trustees present their report and accounts for the year ended 31 July 2022.
## **CONSTITUTION**
Confucius Tao Association (UK) is a company limited by guarantee with no share capital incorporated on 22 July 2010. The company was granted charity status on 12 November 2010 and is governed by its Memorandum and Articles of Association.
## **OBJECTIVES OF THE CHARITY**
The objects of the charity are:
1. To advance religion for the public benefit by promoting Buddhism and the teachings of the great Tao
2. To promote the mental or spiritual improvement of the community for the public benefit by sponsoring the teachings of Confucius
3. To promote religious and racial harmony for the public benefit by enhancing mutual understanding amongst all races and cultures in the United Kingdom
4. To relieve those in need by provision of charitable, physical or moral assistance, for the public benefit
## **PUBLIC BENEFIT**
The trustees have considered their duty as outlined in Section 4 of the Companies Act 2006 to have due regard to the Charity Commission’s guidance on public benefit. The purpose of the charity is enshrined in its objectives as outlined above. The trustees ensure that this purpose is carried out for the public benefit by delivering a range of suitable activities.
## **GOVERNANCE AND ORGANISATION**
The trustees are responsible for the general control and management of the charity. One person is appointed as the Chairperson of the trustees and duties and responsibilities are allocated amongst the trustees and members. Meetings of the trustees are held throughout the year to deal with matters relating to the running of the charity and activities for members. The charity does not have any employees as its work is carried out by the trustees and its members and volunteers.
## **DIRECTORS/TRUSTEES**
The trustees who have served during the year under review and to the date of signing these accounts are:
D M H Chin (Chairman) C Y He T Y Cheung H G Phua (Treasurer)
Each of the above trustees is also a member and director of the company and each is liable to contribute an amount not exceeding £1 in the event of the company being wound up.
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARECAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2022**
PAGE 3
## **RISK MANAGEMENT**
The trustees are aware of the major operational and business risks which the charity faces and are confident that adequate systems are in place to mitigate any significant risks.
## **GOING CONCERN AND IMPACT OF COVID-19 DURING 2021/2022**
The trustees have assessed the Going Concern position of the Charity in the light of COVID-19 and appropriate measures have continued to be in force to ensure the safety of all supporters and those who have dealings with the organisation during the year under review.
## **RESERVES POLICY**
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for special purposes or otherwise committed. The trustees consider that there are sufficient unrestricted funds to carry out the activities of the charity and to meet its running costs for at least 6 months ahead.
## **INVESTMENT POWERS AND POLICY**
The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert.
## **ACHIEVEMENTS AND ACTIVITIES DURING 2021/2022**
During the period under review, the organisation continued with its usual charitable activities .The tea bar Lotus Bloom Café has re-opened in June 2022 after the renovation was completed. Most charitable activities including fundraising have been conducted online where possible including seminars, praying and chanting post COVID-19.
There was no further progress in the year on the re-submission of the application to the local Council for the change of use of the property. All formal activities relating to using the premises as a place of worship until the outcome of the future resubmission of the planning permission is known have continued to be suspended during the year to date.
The charity operates in London but has informal links with other independent charity organisations based in Birmingham and Glasgow. Fundraising was carried out in those locations for the charity.
## **PURCHASE OF FREEHOLD PROPERTY FOR USE BY THE CHARITY**
The charity was successful in purchasing the Freehold property at The Lord Brooke,47 Shernhall Street, Walthamstow in July 2014. The purchase of the property was completed in August 2014. The cost of the Freehold Property was £740,000. With related professional and other costs of £4,259, the total costs of the Freehold Property amounted to £744,259. Further costs were spent on improving the property and converting it into suitable accommodation for the charity, including completing the fitting out of it with fixtures and equipment. In the year under review, costs were incurred relating to the work needed to create a tea bar on the premises. At 31 July 2022, the total costs incurred amounted to £834,712 ( Note 2 ). Depreciation has been provided on the buildings element of the cost. The original purchase and subsequent improvement costs were funded by donations specifically for this purpose. As at 31 July 2022 the total loans relating to the property that have been generously provided by supporters of the charity amounted to £126,780( 2021 £190,780 ) These are interest free loans with no fixed repayment terms.
## **CONFUCIUS & TAO ASSOCIATION (UK)**
**(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2022**
PAGE 4
The charity submitted a planning application to its local Council, the London Borough of Waltham Forest for change of use of the property from A4 to D1 use. The application was rejected by the Council on 27 January 2016. The trustees were disappointed with the Council’s decision and have obtained professional advice on the next course of action. Further consultations with the Council have since taken place but at the date of these accounts the planning application has not yet been resubmitted.
## **FINANCIAL REVIEW**
The charity had a surplus of £33,981 ( 2021 £13,231) ) for the year. Total incoming resources for the year amounted to £112,452 ( 2021 £78,158 ). As at 31 July 2022, the total reserves of the charity amounted to £454,502 (2021 £420,521 ).
## **FUTURE PLANS & DEVELOPMENTS**
The trustees continue to review and monitor the situation as regards the use of the property to carry out its charitable work and efforts are being made to raise more funds from its supporters. The local Council granted a rental Licence on the flat in the property in March 2023.
## STATEMENTOF DIRECTORS/TRUSTEES’RESPONSIBILITIES
The directors/trustees 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 directors/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. In preparing these financial statements the directors/trustees are required to:
-select suitable accounting policies and then apply them consistently
-make judgements and estimates that are reasonable and prudent
-observe the methods and principles in the Charities SORP
-state whether applicable accounting standards and statements of accounting practice have been followed, subject to any departure disclosed and explained in the financial statements. -prepare the financial statements on the going concern basis and in accordance with applicable accounting standards unless it is inappropriate to presume that the charity will continue in operation.
The directors/trustees are responsible for keeping adequate accounting records that 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Trustees on 6 June 2023 and signed on its behalf by
H G PHUA Trustee
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)**
## **INDEPENDENT EXAMINER’S REPORT For the year ended 31 July 2022**
PAGE 5
**______________________________________________________________________________**
I report on the financial statements of Confucius & Tao Association (UK) (“the charity”) for the year ended 31 July 2022 which are set out on pages 6 to 11.
## **Respective responsibilities of the Trustees and Independent Examiner**
The trustees of the charity (who are 6lso directors of the company for the purposes of company law) are responsible for preparing the financial statements. The trustees of the charity consider that an audit is not required for the year (under section 144 (2) of the Charities Act 2011 (“the Act “) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, I have:
-examined the accounts under section 145 of the 2011 Act
-followed the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
## **-** stated whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with General Directives given by the Charity Commission and regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
1.which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006: and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 which are consistent with the method and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- have not been met or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached
Mei Sim Lai OBE DL FCA FCCA
LaiPeters & Co, Chartered Accountants Suite A 6 Honduras Street London EC2M 1NH 6 June 2023
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 July 2022**
PAGE 6
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated**
**Funds**
_Voluntary income_
Donations , grants and other incoming
resources
3
Interest receivable
3
**Total incoming resources**
**RESOURCES EXPENDED**
Raising funds
4
Charitable activities
**Total resources expended**
Net incoming/(outgoing) resources
Total funds brought forward
Total funds carried forward|Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
112,440
-
112,440
78,111
12
12
47|
|---|---|
||112,440
12
112,452
78,158|
||11,787
11,787
6,603
18,924
47,760
66,684
58,334|
||30,711
47,760
78,471
64,927|
||81.729
(47,748)
33,981
13,231
329,737
90,784
420,521
407,290|
||411,436
43,036
454,502
420,521|
The charity had no gains or losses during the year other than those shown above. All the above results are derived from continuing activities
The notes on pages 6 to 11 form part of these financial statements.
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) BALANCE SHEET**
## **31 July 2022**
|**BALANCE SHEET**
**31 July 2022**|||||
|---|---|---|---|---|
||||||
|Notes
FIXED
ASSETS
Tangible fixed
assets
2
CURRENT
ASSETS
Debtors
7
Cash at bank &
in hand
CREDITORS:
amounts falling
due within one
year
Creditors and
Loans
9,10
RESERVES
Unrestricted
funds
Restricted funds
11
TOTAL
RESERVES|2022
£
5,605
56,075
61.680
(127,880)
||-
520,702
( 66,200)
454,502
411,466
43,036
454.502||
The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 July 2022:
- The company was entitled to exemption from audit under section 477 of the Companies Act 2006 (“the Act”)
- Members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 5.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved and authorised for issue by the Board on 6 June 2023 and signed on behalf of the Board of trustees by:
H G PHUA
Trustee Company no : 07323872 ( England & Wales )
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 8
## **1. ACCOUNTING POLICIES**
## **(a) Basis of preparation of accounts**
The financial statements have been prepared under the historical cost convention and comply with the Companies Act 2006. They are prepared in sterling which is the functional currency of the charity. The financial statements have been prepared in accordance with the Statement of Recommended Practice and Reporting by Charities - SORP FRS102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland.
## **Going Concern**
The trustees have the considered the going concern of the charity particularly in the light of the pandemic and its impact on cashflows. They have come to the conclusion that the charity has adequate resources to continue in business for the next 12 months.
## **(b) Incoming resources**
Income representing the value of gifts, donations and contributions from members is recognised in full in the Statement of Financial Activities when receivable.
## **(c) Resources expended**
Resources expended include attributable VAT which cannot be recovered
## **(d) Unrestricted and Restricted Funds**
Unrestricted funds are donations and other income receivable or generated for the charity without a specified purpose and are available for the general use of the charity.
Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to these accounts.
## **(e) Depreciation**
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their residual value, over their expected useful lives on the following basis:
Freehold buildings 5% straight line Fixtures and equipment 25% reducing balance
## **(f) Foreign exchange**
Transactions in respect of donations from overseas, denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange at the balance sheet date.
9
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 9
## **2** . **TANGIBLE FIXED ASSETS**
|
**Cost**
At beginning of year
Additions during year
_
Cost at end of year
**Depreciation**
At beginning of year
Charge for year
At end of year
**Net Book Value**
31 July 2022
31 July 2021
|**Freehold**
**Fixtures and**
**Property**
**Equipment**
**£**
**£**
829,536
80,991
5,175
12,966
______
_____
834,712
93,957
290,339
69,868
41,736
6,024
______
_____
332,075
75,892
502,637
18,065
539,197
11,123|**Total**
**£**
910,527
18,142
______
928,669
360,207
47,760
______
407,967
520,702
550,320|
|---|---|---|
||||
In the opinion of the trustees the current market value of the freehold property is well in excess of £1million based on increases in property prices in the area but in the absence of a formal valuation the actual amount is not known.
## **3** . INCOMING RESOURCES
|Unrestricted donations
Sale of donated and other goods
Tea Bar
Gift Aid recoverable
Uniforms
Total unrestricted incoming resources
Bank interest receivable - restricted
Total Incoming resources|2022
£
89,260
13,934
3,771
5,256
219
______
112,440
12
112.452|2021
£
64,442
7,757
392
5,520
**_____**
78.111
47
78,158|
|---|---|---|
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 10
|**4. RESOURCES EXPENDED**
**Raising funds:**
Cost of goods sold
Tea Bar costs
**Charitable activities**
Meetings, events and seminar expenses
Support costs:
Utilities
Insurance
Professional Fees
Printing & Stationery
General Expenses & office costs
Governance costs
Total cost of charitable activities ( unrestricted )
Depreciation of Freehold buildings ( restricted )
Depreciation of Fixtures and Equipment ( restricted)
Total cost of charitable activities
**5. GOVERNANCE COSTS**
Independent Examiner’s Fee ( including VAT )|2022
£
8,253
3,534
-------
11,787
-
10,739
2,178
949
131
3,827
1,100
______
18,924
41,736
6,024
______
78,471
2022
£
1,100|2021
£
5,816
787
--------
6,603
-
7,442
1,705
100
-
2,933
960
_____
13,140
41,477
3707
______
64,927
2021
£
960|
|---|---|---|
## **6 TRUSTEES’ REMUNERATION**
The trustees are not remunerated and no expenses were claimed by the trustees during the year.
|**7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Prepayment
349
Gift Aid recoverable
5,256
5,605
**8. CASH AT BANK**
2020
£
Cash in hand
200
Cash at Bank- Current account
55,589
Cash at Bank- Savings account
286
56,075|2021
£
-
5,520
5,520
2021
£
-
34,772
21,799|
|---|---|
||
56,521|
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 11
**_______________________________________________________________________________**
|**9**.**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Accruals
1,100
**10.LOANS**
2022
£
Loans to assist with the purchase of a building for use by the charity126,780|20210
£
1,060
2021
£
190,780|
|---|---|
The above loans have been provided by supporters of the charity on an interest free basis. No repayment terms have been fixed as this will be mutually decided and applied at the appropriate date.
|**11. RESTRICTED FUNDS**|2022|2021|
|---|---|---|
||£|£|
|**BUILDING FUND**|||
|At beginning of year|90,784|135,921|
|Net increase in year|12|47|
|Depreciation of buildings and Fixtures &|||
|Equipment for year|(47,760)|(45,184)|
||_______|______|
|At end of year|43,036|90,784|
## **12. CONTROL**
The charitable company was controlled during the year by the board of directors/trustees.
## **13. RELATED PARTIES TRANSACTIONS**
Donations were received from the Trustees during the year. Apart from this there were no other related parties transactions during the year.
## **14. EMPLOYEES**
The charity did not have any employees during the period under review
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)**
## **REPORT AND ACCOUNTS**
**for the year ended 31 July 2022**
**COMPANY NO: 07323872 (ENGLAND & WALES)**
**REGISTERED CHARITY NO: 1138997**
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) REPORT AND ACCOUNTS For the year ended 31 JULY 2022**
## **CONTENTS**
||**Page**||
|---|---|---|
|Officers and professional advisers||1|
|Trustees’ report||2-4|
|Independent Examiner’s Report||5|
|Statement of Financial Activities||6|
|Balance sheet||7|
|Notes to the accounts||8-11|
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) OFFICERS AND PROFESSIONAL ADVISERS For the year ended 31 July 2022**
|||PAGE 1|
|---|---|---|
|**Trustees/Directors**|D M H Chin ( Chairman)||
||C Y He||
||T Y Cheung||
||H G Phua ( Treasurer )||
|**Company Number**|07323872 (England & Wales)||
|**Registered Charity Number**|1138997||
|**Registered Office**|The Lord Brooke||
||47 Shernhall Street||
||Walthamstow||
||London E17 3EY||
|**Charity’s address**|The Lord Brooke||
||47 Shernhall Street||
||Wathamstow||
||London E17 3EY||
|**Independent Examiner**|Mei Sim Lai OBE DL FCA FCCA||
||LaiPeters & Co||
||Chartered Accountants||
||Suite A||
||6 Honduras Street||
||London||
||EC1Y 0TH||
|**Bankers**|HSBC Bank||
||Canada Place||
||Canary Wharf||
||London||
||E14 5AH||
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’ REPORT**
**For the year ended 31 July 2022**
PAGE 2
The trustees present their report and accounts for the year ended 31 July 2022.
## **CONSTITUTION**
Confucius Tao Association (UK) is a company limited by guarantee with no share capital incorporated on 22 July 2010. The company was granted charity status on 12 November 2010 and is governed by its Memorandum and Articles of Association.
## **OBJECTIVES OF THE CHARITY**
The objects of the charity are:
1. To advance religion for the public benefit by promoting Buddhism and the teachings of the great Tao
2. To promote the mental or spiritual improvement of the community for the public benefit by sponsoring the teachings of Confucius
3. To promote religious and racial harmony for the public benefit by enhancing mutual understanding amongst all races and cultures in the United Kingdom
4. To relieve those in need by provision of charitable, physical or moral assistance, for the public benefit
## **PUBLIC BENEFIT**
The trustees have considered their duty as outlined in Section 4 of the Companies Act 2006 to have due regard to the Charity Commission’s guidance on public benefit. The purpose of the charity is enshrined in its objectives as outlined above. The trustees ensure that this purpose is carried out for the public benefit by delivering a range of suitable activities.
## **GOVERNANCE AND ORGANISATION**
The trustees are responsible for the general control and management of the charity. One person is appointed as the Chairperson of the trustees and duties and responsibilities are allocated amongst the trustees and members. Meetings of the trustees are held throughout the year to deal with matters relating to the running of the charity and activities for members. The charity does not have any employees as its work is carried out by the trustees and its members and volunteers.
## **DIRECTORS/TRUSTEES**
The trustees who have served during the year under review and to the date of signing these accounts are:
D M H Chin (Chairman) C Y He T Y Cheung H G Phua (Treasurer)
Each of the above trustees is also a member and director of the company and each is liable to contribute an amount not exceeding £1 in the event of the company being wound up.
**CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARECAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2022**
PAGE 3
## **RISK MANAGEMENT**
The trustees are aware of the major operational and business risks which the charity faces and are confident that adequate systems are in place to mitigate any significant risks.
## **GOING CONCERN AND IMPACT OF COVID-19 DURING 2021/2022**
The trustees have assessed the Going Concern position of the Charity in the light of COVID-19 and appropriate measures have continued to be in force to ensure the safety of all supporters and those who have dealings with the organisation during the year under review.
## **RESERVES POLICY**
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for special purposes or otherwise committed. The trustees consider that there are sufficient unrestricted funds to carry out the activities of the charity and to meet its running costs for at least 6 months ahead.
## **INVESTMENT POWERS AND POLICY**
The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert.
## **ACHIEVEMENTS AND ACTIVITIES DURING 2021/2022**
During the period under review, the organisation continued with its usual charitable activities .The tea bar Lotus Bloom Café has re-opened in June 2022 after the renovation was completed. Most charitable activities including fundraising have been conducted online where possible including seminars, praying and chanting post COVID-19.
There was no further progress in the year on the re-submission of the application to the local Council for the change of use of the property. All formal activities relating to using the premises as a place of worship until the outcome of the future resubmission of the planning permission is known have continued to be suspended during the year to date.
The charity operates in London but has informal links with other independent charity organisations based in Birmingham and Glasgow. Fundraising was carried out in those locations for the charity.
## **PURCHASE OF FREEHOLD PROPERTY FOR USE BY THE CHARITY**
The charity was successful in purchasing the Freehold property at The Lord Brooke,47 Shernhall Street, Walthamstow in July 2014. The purchase of the property was completed in August 2014. The cost of the Freehold Property was £740,000. With related professional and other costs of £4,259, the total costs of the Freehold Property amounted to £744,259. Further costs were spent on improving the property and converting it into suitable accommodation for the charity, including completing the fitting out of it with fixtures and equipment. In the year under review, costs were incurred relating to the work needed to create a tea bar on the premises. At 31 July 2022, the total costs incurred amounted to £834,712 ( Note 2 ). Depreciation has been provided on the buildings element of the cost. The original purchase and subsequent improvement costs were funded by donations specifically for this purpose. As at 31 July 2022 the total loans relating to the property that have been generously provided by supporters of the charity amounted to £126,780( 2021 £190,780 ) These are interest free loans with no fixed repayment terms.
## **CONFUCIUS & TAO ASSOCIATION (UK)**
**(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2022**
PAGE 4
The charity submitted a planning application to its local Council, the London Borough of Waltham Forest for change of use of the property from A4 to D1 use. The application was rejected by the Council on 27 January 2016. The trustees were disappointed with the Council’s decision and have obtained professional advice on the next course of action. Further consultations with the Council have since taken place but at the date of these accounts the planning application has not yet been resubmitted.
## **FINANCIAL REVIEW**
The charity had a surplus of £33,981 ( 2021 £13,231) ) for the year. Total incoming resources for the year amounted to £112,452 ( 2021 £78,158 ). As at 31 July 2022, the total reserves of the charity amounted to £454,502 (2021 £420,521 ).
## **FUTURE PLANS & DEVELOPMENTS**
The trustees continue to review and monitor the situation as regards the use of the property to carry out its charitable work and efforts are being made to raise more funds from its supporters. The local Council granted a rental Licence on the flat in the property in March 2023.
## STATEMENTOF DIRECTORS/TRUSTEES’RESPONSIBILITIES
The directors/trustees 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 directors/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. In preparing these financial statements the directors/trustees are required to:
-select suitable accounting policies and then apply them consistently
-make judgements and estimates that are reasonable and prudent
-observe the methods and principles in the Charities SORP
-state whether applicable accounting standards and statements of accounting practice have been followed, subject to any departure disclosed and explained in the financial statements. -prepare the financial statements on the going concern basis and in accordance with applicable accounting standards unless it is inappropriate to presume that the charity will continue in operation.
The directors/trustees are responsible for keeping adequate accounting records that 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Trustees on 6 June 2023 and signed on its behalf by
H G PHUA Trustee
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)**
## **INDEPENDENT EXAMINER’S REPORT For the year ended 31 July 2022**
PAGE 5
**______________________________________________________________________________**
I report on the financial statements of Confucius & Tao Association (UK) (“the charity”) for the year ended 31 July 2022 which are set out on pages 6 to 11.
## **Respective responsibilities of the Trustees and Independent Examiner**
The trustees of the charity (who are 6lso directors of the company for the purposes of company law) are responsible for preparing the financial statements. The trustees of the charity consider that an audit is not required for the year (under section 144 (2) of the Charities Act 2011 (“the Act “) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, I have:
-examined the accounts under section 145 of the 2011 Act
-followed the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
## **-** stated whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with General Directives given by the Charity Commission and regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
1.which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006: and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 which are consistent with the method and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- have not been met or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached
Mei Sim Lai OBE DL FCA FCCA
LaiPeters & Co, Chartered Accountants Suite A 6 Honduras Street London EC2M 1NH 6 June 2023
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 July 2022**
PAGE 6
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated**
**Funds**
_Voluntary income_
Donations , grants and other incoming
resources
3
Interest receivable
3
**Total incoming resources**
**RESOURCES EXPENDED**
Raising funds
4
Charitable activities
**Total resources expended**
Net incoming/(outgoing) resources
Total funds brought forward
Total funds carried forward|Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
112,440
-
112,440
78,111
12
12
47|
|---|---|
||112,440
12
112,452
78,158|
||11,787
11,787
6,603
18,924
47,760
66,684
58,334|
||30,711
47,760
78,471
64,927|
||81.729
(47,748)
33,981
13,231
329,737
90,784
420,521
407,290|
||411,436
43,036
454,502
420,521|
The charity had no gains or losses during the year other than those shown above. All the above results are derived from continuing activities
The notes on pages 6 to 11 form part of these financial statements.
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) BALANCE SHEET**
## **31 July 2022**
|**BALANCE SHEET**
**31 July 2022**|||||
|---|---|---|---|---|
||||||
|Notes
FIXED
ASSETS
Tangible fixed
assets
2
CURRENT
ASSETS
Debtors
7
Cash at bank &
in hand
CREDITORS:
amounts falling
due within one
year
Creditors and
Loans
9,10
RESERVES
Unrestricted
funds
Restricted funds
11
TOTAL
RESERVES|2022
£
5,605
56,075
61.680
(127,880)
||-
520,702
( 66,200)
454,502
411,466
43,036
454.502||
The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 July 2022:
- The company was entitled to exemption from audit under section 477 of the Companies Act 2006 (“the Act”)
- Members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 5.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved and authorised for issue by the Board on 6 June 2023 and signed on behalf of the Board of trustees by:
H G PHUA
Trustee Company no : 07323872 ( England & Wales )
## **CONFUCIUS & TAO ASSOCIATION (UK)**
## **(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 8
## **1. ACCOUNTING POLICIES**
## **(a) Basis of preparation of accounts**
The financial statements have been prepared under the historical cost convention and comply with the Companies Act 2006. They are prepared in sterling which is the functional currency of the charity. The financial statements have been prepared in accordance with the Statement of Recommended Practice and Reporting by Charities - SORP FRS102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland.
## **Going Concern**
The trustees have the considered the going concern of the charity particularly in the light of the pandemic and its impact on cashflows. They have come to the conclusion that the charity has adequate resources to continue in business for the next 12 months.
## **(b) Incoming resources**
Income representing the value of gifts, donations and contributions from members is recognised in full in the Statement of Financial Activities when receivable.
## **(c) Resources expended**
Resources expended include attributable VAT which cannot be recovered
## **(d) Unrestricted and Restricted Funds**
Unrestricted funds are donations and other income receivable or generated for the charity without a specified purpose and are available for the general use of the charity.
Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to these accounts.
## **(e) Depreciation**
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their residual value, over their expected useful lives on the following basis:
Freehold buildings 5% straight line Fixtures and equipment 25% reducing balance
## **(f) Foreign exchange**
Transactions in respect of donations from overseas, denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange at the balance sheet date.
9
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 9
## **2** . **TANGIBLE FIXED ASSETS**
|
**Cost**
At beginning of year
Additions during year
_
Cost at end of year
**Depreciation**
At beginning of year
Charge for year
At end of year
**Net Book Value**
31 July 2022
31 July 2021
|**Freehold**
**Fixtures and**
**Property**
**Equipment**
**£**
**£**
829,536
80,991
5,175
12,966
______
_____
834,712
93,957
290,339
69,868
41,736
6,024
______
_____
332,075
75,892
502,637
18,065
539,197
11,123|**Total**
**£**
910,527
18,142
______
928,669
360,207
47,760
______
407,967
520,702
550,320|
|---|---|---|
||||
In the opinion of the trustees the current market value of the freehold property is well in excess of £1million based on increases in property prices in the area but in the absence of a formal valuation the actual amount is not known.
## **3** . INCOMING RESOURCES
|Unrestricted donations
Sale of donated and other goods
Tea Bar
Gift Aid recoverable
Uniforms
Total unrestricted incoming resources
Bank interest receivable - restricted
Total Incoming resources|2022
£
89,260
13,934
3,771
5,256
219
______
112,440
12
112.452|2021
£
64,442
7,757
392
5,520
**_____**
78.111
47
78,158|
|---|---|---|
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 10
|**4. RESOURCES EXPENDED**
**Raising funds:**
Cost of goods sold
Tea Bar costs
**Charitable activities**
Meetings, events and seminar expenses
Support costs:
Utilities
Insurance
Professional Fees
Printing & Stationery
General Expenses & office costs
Governance costs
Total cost of charitable activities ( unrestricted )
Depreciation of Freehold buildings ( restricted )
Depreciation of Fixtures and Equipment ( restricted)
Total cost of charitable activities
**5. GOVERNANCE COSTS**
Independent Examiner’s Fee ( including VAT )|2022
£
8,253
3,534
-------
11,787
-
10,739
2,178
949
131
3,827
1,100
______
18,924
41,736
6,024
______
78,471
2022
£
1,100|2021
£
5,816
787
--------
6,603
-
7,442
1,705
100
-
2,933
960
_____
13,140
41,477
3707
______
64,927
2021
£
960|
|---|---|---|
## **6 TRUSTEES’ REMUNERATION**
The trustees are not remunerated and no expenses were claimed by the trustees during the year.
|**7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Prepayment
349
Gift Aid recoverable
5,256
5,605
**8. CASH AT BANK**
2020
£
Cash in hand
200
Cash at Bank- Current account
55,589
Cash at Bank- Savings account
286
56,075|2021
£
-
5,520
5,520
2021
£
-
34,772
21,799|
|---|---|
||
56,521|
## **CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2022**
PAGE 11
**_______________________________________________________________________________**
|**9**.**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Accruals
1,100
**10.LOANS**
2022
£
Loans to assist with the purchase of a building for use by the charity126,780|20210
£
1,060
2021
£
190,780|
|---|---|
The above loans have been provided by supporters of the charity on an interest free basis. No repayment terms have been fixed as this will be mutually decided and applied at the appropriate date.
|**11. RESTRICTED FUNDS**|2022|2021|
|---|---|---|
||£|£|
|**BUILDING FUND**|||
|At beginning of year|90,784|135,921|
|Net increase in year|12|47|
|Depreciation of buildings and Fixtures &|||
|Equipment for year|(47,760)|(45,184)|
||_______|______|
|At end of year|43,036|90,784|
## **12. CONTROL**
The charitable company was controlled during the year by the board of directors/trustees.
## **13. RELATED PARTIES TRANSACTIONS**
Donations were received from the Trustees during the year. Apart from this there were no other related parties transactions during the year.
## **14. EMPLOYEES**
The charity did not have any employees during the period under review