Charity registration number 1150698 (England and Wales) Company registration number 08372242 UK SHAOLIN TEMPLE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
UK SHAOLIN TEMPLE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Jack Lucas Miss Janine Brauer Yanmin Chen Mrs Jennifer Chen Secretary Charity number (England and Wales) 1150698 Company number 08372242 Principal address Unit 81A (First Floor) Above Bar Street Marlands Shopping Centre Southampton Hampshire England S014 7FG Registered office Unit 81A (First Floor) Above Bar Street Marlands Shopping Centre Southampton Hampshire England S014 7FG Independent examiner HJS Chartered Accountants incorporating David Gamblin Limited 71 The Hundred Romsey Hampshire S0518BZ
UK SHAOLIN TEMPLE LIMITED CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8~16
UK SHAOLIN TEMPLE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "kcounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and activities The objectives and aims of the charity are those of: 1. The advancement of Chan Buddhism in the United Kingdom by establishing and running a temple forthe study of Chan Buddhism and Shaolin culture. 2. The advancement of the Chan culture and heritage. 3. The promotion of health and wellbeing of the public by teaching Chan Buddhism and Shaolin Kung Fu. Public benefit The trustees have kept public benefit at the forefront of its undertakings: in accordance with Charity Commission's guidance on public benefit. Achievements and performance In the year 2023124 we maintained our commitment to serve the public benefit by keeping this at the forefront of all our undertakings; in accordance with Charity Commission's guidance on public benefit. During this reporting year, we had to meet the challenges of rise in the cost-of-living, national increases in energy prices and knock on economic cost to other essential costs. Nearly two years into our facility in the Marlands Shopping Centre (Southampton), we made the decision to downsize to a smaller unit at the end of this reporting year. During this reporting year, we hosted all of our regular public events and projects, alongside our regular services teaching Shaolin martial arts and health and wellbeing activities. During this reporting year, we marked the 10th year of hosting Chinese New Year celebrations for Southampton City. Membership numbers: Throughout this reporting year we gained 34 new members who predominantly engaged with our martial arts and other wellbeing classes. Our peak membership numbers sat at 72 per month. Engagement: Over the year, we engaged with more than 5000 people through one-off events, regular activities, social events, and public events. Our social media presence has continued to grow.
UK SHAOLIN TEMPLE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Highlights: Chinese New Year 2024- Year of the Dragon. Dates: 3rd February 2024. We achieved 3500 engagements including participants, audience and social media. We hosted our annual Chinese New Year variety show in the MAST theatre and the Guildhall Square in Southampton city centre. A popular regional attraction, our festivities drew in people from as far as London to participate in the festivities. We also hosted a range of free cultural and arts workshops for the public to enjoy during the two weeks of Lunar New Year celebrations. These workshops included Chinese paper crafts, Chinese traditional dance, Chinese Chess, Calligraphy, Tai Chi, Feng Shui, Aerial Hoop, and Karate. Date: 3rd - 24th February 2024 Aside from our main event, we hosted a number of additional Chinese New Year related events. This included a Chinese Lantern Festival workshop for a local Southampton School Bassett Green Primary School, where pupils could take part in a free Kung Fu taster session, Chinese arts and crafts, and a calligraphy taster session. We also hosted a Lion and Dragon Dance performance and free arts and crafts at Ikea Southampton, and West Quay Shopping centre. Support for Chinese New Year 2024 activities was delivered from local stakeholders, businesses and community partners. We received more funding from local partners and stakeholders Southampton City Council, Hampshire Constabulary, and University of Southampton. We also saw continued engagement this year from local businesses including the local branches of the LEGO store, IKEA Southampton, Rituals, Sweaty Betty, Decathlon, Yau Bros and others. In-House Services: We made improvements to our children's class syllabus now offering classes for 4-6 year olds and 7-13 years split across Kung Fu classes. While retaining our termly course structure, we now offer sessions designed for the appropriate age ranges. The focus of the 4-6 years classes is on play, kung fu basics, and short burst exercises. Our 7-13 years classes offer more stimulating content, more challenging Kung Fu basics, increased focus and encouraging physical fitness. With the continued engagement of our Kung Fu children's classes, we added the addition of a 7-13 years Chinese Kickboxing class. This was a welcome addition to the class roster. During this reporting year, we also expanded our Yoga offerings with the addition of two local teachers to deliver Yoga for beginner and intermediate participants. The classes were well attended. Our Shaolin Kung Fu, Chinese Kickboxing, Tai Chi sessions, and the Kung Fu and Kickboxing children's classes remain our most popular offerings. We also delivered a number of wellbeing orientated events to the public. This includes a Winter Wellbeing Event in December 2023 which included a range of local massage therapy, gong energy bath, and meditation sessions. In addition, a local collaborator hosted a 8 week Chinese Tuina Massage course from our facility. Challenges: The biggest challenge to the Charity in this reporting year is rising running costs including utilities, services and running costs. Significantly, the rise of costs nationally due to inflation saw an increase to our operating costs. In the final months of the reporting year, we made the decision to move to a new unit within our existing location to reduce our overheads. Competitiveness of the funding sector has made it difficult to secure grant funding in comparison to previous years as there has been a significant drop in available grants.
UK SHAOLIN TEMPLE LIMITED TRUSTEES, REPQFIT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 FlrAnclal r•vlew Flnanclal posluon The significant rise in our runnlng costs due to the new facilty, alongside natlonal inflation arKJ financial recession has meant financial stsbility has been difficult to maintsin. This remains a key strategic goal for the next reporting Stru¢tur•, governanc• and manag•m•nt Governlng docum•nt The charity is controlled by its goveming documen( a deed of trust, and nStituteS 8 limited company, limlted by guarantee, as defined by the Companies Act 2008. The trustees who served dunng the year and up to to the date of signature of the financial ststaments were: Mr Jack Lucas Miss Janine Brauer Yanmin Chen Mrs Jennifer Chen Charty Offle• Addr•88 Unit 81A (First Floor) Above Bar Street Marfands Shopping Centre Southampton Hampshire S014 7FG The Trustees, report was approved by the Board of Trustees. Mrs Jennifer Chen Tte9 k(•4 awilJE EPAtsE Date: ... 18 lof i2 Iqlf /&>
UK SHAOLIN TEMPLE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UK SHAOLIN TEMPLE LIMITED I report to the Trustees on my 8xamlnatlon of the finandal statements of UK Shaolln Temple Llmited (the Charity) for the year erKled 30 June 2024. Rosponslbllltl•s and $18 of r•port As the Trustees of the Charity (and also its directors for the purposas of company law), you are responsible for the preparation of the financlal statements In accordance with the requlrements of the Companles Act 2006. Having satisfied myself that the finandal statements of the Charity are not required to be audItl under Part 16 of the Companies Act 2006 and are eligible for independent examlnation, I rep)rt in respect of my examination of the Chaiity's financial statements carried out under section 145 of the Charitles Ad 2011. In carrying out my examination I have followed the Dlrections gNen by the Charfty Commlssion under se6 145(5)(b) of the Charities Act2011, Ind•p•nd•nt •xamln•V8 Stat•m•nt I have completed my examination. I confirm that no matters have come to my attention in connedion,with the , examination gNing me cause to belleve that In any material respect: accounting,records were. not kept in respert of the Charity as required by sedion 388 of the Companies Act 20C6. the financial statements do not accord th those records; or the financial ststa*nts do not comply with the accounting requlrements of section 396 of the Companles Act 2006 other than any requirement that the financial statements give a true and fair view. which is nd a matter considered as part of an independent examinallon; or the financial statements have not been prepared In accordance with the methods and principles of the Statement of Recommended Practice for accountlng and reporting by charities applicable to charities preparing thelr finandal statements in aceordance wlth the Flnancial Reportlng Stsndard applicable In the UK and Republlc of Ireland (FRS 102). I have no concems and have come a¢XOSS no other matters in connection with the examination to which attention should drawn in this report In order to enable a proper understanding of the financial statements to be reached. Davld Gamblln HJS Chartered Accountsnts incorporating David Gamblln Umlted 71 The Hundred Romsey Hampshire S05188Z Date: .....
UK SHAOLIN TEMPLE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Other trading activities Investments 13,450 13,450 81,069 52 26,890 26,890 46,277 22 81,069 52 46,277 22 Total income 81,121 13,450 94,571 46,299 26,890 73,189 Expenditure on: Raising funds Charitable activities 3,000 99,538 3,000 112,988 1,350 87,684 1,350 114,574 13,450 26,890 Total expenditure 102,538 13,450 115,988 89,034 26,890 115,924 Net expenditure and movement in funds (21,417) (21,417) (42,735) (42,735) Reconciliation of funds: Fund balances at 1 July 2023 29,413 29,413 72,148 72,148 Fund balances at 30 June 2024 7,996 7,996 29,413 29,413 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
UK SHAOLIN TEMPLE LIMITED BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Fixed assets Tangible assets 12 8,056 12,727 Current assets Stocks Debtors Cash at bank and in hand 13 14 3,000 1,934 30,606 23,816 23,816 35,540 Creditors: amounts falling due within one year 16 (8,391) (10,129) Net current assets 15,425 25,411 Total assets less current liabilities 23,481 38,138 Creditors: amounts falling due after more than one year 17 (15,485) (8,725) Net assets 7,996 29,413 The funds of the Charity Unrestricted funds 18 7,996 29,413 7,996 29,413
UK SHAOLIN TEMPLE LIMITED BALANCE SHEET (CONTINUED) ASAf30 JUNE 2024 The company is entitled to the exemption from th8 audit requlrement contained in sectlon 477 of the Companies Act 2006, for the year ended 30 June 2024. The dlrectors acknowledge thelr responsibllities for complying wlth the requirements of the Companies Act 2006 with respect to aco)untlng records and the preparatlon of financial statements. The members have not required the company to obtsln an audlt of Its financial statoments for the year in question in accfjrdance with section 476. These financial statements have been prepared In accordance with the provisions applicable to companies subject to the small companles regime. 11.C)3. Z) The financial statements were approved by the Trustees on ..... .. Mrs Jennifer Chen OWIIJL S2hL4trR . IS (07L2s-. :,, . Company registration number 08372242 (EnglarKI and Wales) L-cke
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charity information UK Shaolin Temple Limited is a registered charity further details can be found at shaolintempleuk.org 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings Computers Straight line over 3 years Straight line over 3 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) 1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Taxation The charity is exempt for corporation tax on its charitable activities. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 10-
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Income from donations and legacies Restricted funds 2024 Restricted funds 2023 Donations and gifts Grants 5,200 8,250 3,590 23,300 13,450 26,890 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Other trading activities 81,069 46,277 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 52 22 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Trading costs Operating charity shops 3,000 1,350 11
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expenditure on charitable activities 2024 2023 Direct costs Staff costs Depreciation and impairment Rent and rates Insurance Light and heat Telephone Advertising Event expenses Business expenses Equipment IT Expenses Contractor fees Bank charges Repairs & maintenance Staff training Subscriptions Bank loan interest 27,206 6,170 53,794 626 5,123 573 259 1,203 7,726 10 493 446 1,620 385 236 1,008 271 26,437 5,159 40,244 713 564 526 10 18,918 11,277 560 375 2,913 335 926 1,081 188 334 107,149 110,560 Share of support and governance costs (see note 7) Support Governance 3,428 2,411 4,014 112,988 114,574 Analysis by fund Unrestricted funds Restricted funds 99,538 13,450 87,684 26,890 112,988 114,574 Support costs allocated to activities 2024 2023 Support costs Governance costs 3,428 2,411 4,014 5,839 4,014 Analysed between: Charitable activities 5,839 4,014 12-
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Net Incomel(Expenditure) 2024 2023 The net movement in funds is stated after charging/(crediting): Independent examiners fees Depreciation of owned tangible fixed assets 1,008 6,170 1,008 5,159 Trustees Trustee expenses for reimbursement of costs and travelling expenses were paid to one trustee totalling £ 3,428 (2023: £15) 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social security costs 25,010 2,196 25,920 517 27,206 26,437 There were no employees whose annual remuneration was more than £60,000. Remuneration was paid to a trustee (Y Chen) for the year ended 30 June 2024 totalling £25,010 (2023: £25,920). Remuneration was paid for services provided to the charity inline with Charities Articles of Association and not his role as a trustee. 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 13-
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 12 Tangible fixed assets Fixtures and fittings Computers Total Cost At 1 July 2023 Additions 17,836 360 50 1,139 17,886 1,499 At 30 June 2024 18,196 1,189 19,385 Depreciation and impairment At 1 July 2023 Depreciation charged in the year 5,144 5,995 15 175 5,159 6,170 At 30 June 2024 11,139 190 11,329 Carrying amount At 30 June 2024 7,057 999 8,056 At 30 June 2023 12,692 35 12,727 13 Stocks 2024 2023 Raw materials and consumables 3,000 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors 1,933 1,934 15 Loans and overdrafts 2024 2023 Bank loans Loans from related parties 8,737 10,000 11,751 18,737 11,751 Payable within one year Payable after one year 3,286 15,451 3,026 8,725 14-
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 15 Loans and overdrafts (Continued) The long-term loans are secured by fixed charges over [XXX] 16 Creditors: amounts falling due within one year 2024 2023 Notes Bank loans Other taxation and social security Other creditors Accruals and deferred income 15 3,286 721 2,704 1,680 3,026 545 6,558 8,391 10,129 17 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans Other borrowings Accruals and deferred income 15 5,451 10,000 34 8,725 15,485 8,725 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 July 2023 Resources At 30 June expended 2024 Incoming resources General funds 29,413 81,121 (102,538) 7,996 Previous year: At 1 July 2022 Incoming resources Resources expended At 30 June 2023 General funds 72,148 46,299 (89,034) 29,413 15-
UK SHAOLIN TEMPLE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 19 Operating lease commitments Lessee At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years 25,000 25,000 42,000 19,320 50,000 61,320 20 Related party transactions During the year, J Lucas (trustee) provided a loan of £10,000 to the charity to facilitate the move to a new unit. The repayment terms will be agreed at a later date following a review with the trustee and confirmed in writing. 16-