REGISTERED CHARtrY NUMBER: 1150819 Re ort of the Trustees and UnaudTted Finan(4al Statemen lor the Y r Ended 31 De¢ember 20 Korean Christian Fellowshi Bennewith 2018 Limited Va A J Bennewith & Co Upper Ground Floor 18 Farnham Road Gutldford Surrey GUI 4XA Korean Chrlsti•n Fellowshi Contents of the Flnancial Statements for the Year Ended 31 December 2023 Page Report of the Trustee5 Independent £xamlner's Report StatÈmÈnt of Financial Acbvities Balanfe Sheet ND1È5 tothe flnancial Statrments Detailed Statement of F1M￿la1 Activitiès io Korean Christian Fellowshi Re rt of the Trustee5 for the Year Ended 31 December 2023 The trustees present theiT rÈport with the financial statements of the charity for the year ènded 31 December 2023. rhe trustees have adtspted the provisions of Accounting and Reporting by Chartties.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting St3ndard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191. 08JECTIVES AND ACTIVITIES Objectives and aims The principal object of the charity is actvance the Chri%tian Faith. It seeks to do this locally within its irnmediate geographic neighbourhood area. but also across the UK and internationally with various contacts that the charity has. Signrficant artivitie5 The principal fund raising artivity of the church is the offerings and donations made by the members of the church congregation. The fund raised are used to stjpport missionary work, both in the United Kingdom and abrtsad, to give scholarship support to students. and generally to give support and aid to those le55 well off in the community. Public benefit The advancement of religious education tolfor the Korean speaking congregation in and around the area. FINANCIAL REVIEW Reser¥es policy Total income received for the year amounted to £53,55512022 £47.9641. which is the total incoming resource. Tot81 expenditure amounted to £56,11212022 £47.9871 that left net outgoing resou￿$ for the period of £2,55712022 net out80ing of £231. The trustees applied and shall continue to apply accurnulations of income to charitable causes after making such provision for all expenditure on trust. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng dot45rnent The charity is controllèd by its governing d¢xument. a deed of trust and constitutes an unincorporated tharity. REFERENCE ANO ADMINISTRAnVE DETAILS Resi5ter¢d ¢h•rity number 1150819 Prlnclpal address 14 Manor Drlve North New M31den Surrey 35PB Trustees CKim E Kang 55Kwon CHKang Page I Korean ChrFstian Fellowshl Re ort ofthè Trustees forthè Year Ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAIiS Independent Examiner A J Bennewith Upper Ground Floor 18 Farnham Road Guildford Surrey GU14XA Appioved by order ofthe board of trustees on................. io Zozf and signed on its behalf by.. 11741 C H Kang- Trustee Pagè 2 Inde ndent Examinerfs R rt to the Trustees of Korean Christian Fellowshi Independent exambner's report tD the trustees of Korean Christian Fellowshlp I report to the charity trustees on my examination of the accounts of Korean Christian Fellowship lthe Trust) for the year ended 31 December 2023. Responslbllltles and basis of report As the chartty trustees rif the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 l*he Art'l. I report in respert of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Dirertions given by the Charity Commission under Section 14515llbl ol the Act. Independent examiner'5 ststement I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination givirng me cause to believe that in any material respert.. accounting records were nrt kept in respect of the Trust as required by Section 130 of the Art- or the account5 do not accord with those records- or the accounts do not comply with the applicable requirements con£erning the form and content of accounts set out in the Charities (Accounts and Rèports) Regulations 2008 other than any requirement that the accounts give a trLJe and fair view whith is not a matter Eonsidered as part of an independent examination. I havè no concerns and have come across no other matters In connettion with the examination to which attention should be drawn in this report in order to enable a proper tsnder%tandin8 of the accounts to be reached. AJ Bennewith FCA, FCPA, FFA. FFTA, FIP4 DCh*K FIISA Upper GroLsnd Floor 18 Farnham Road Guildford Surrev GUI 4YA D3te'. zo Page 3 Korean christi￿ Fellowshi Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 Unrestricted fund 31.12.22 Tot81 fvnds Notes INCOME AND ENDOWMEp¥fsFROM Donations and legacies 53.285 47,960 Investment income 270 Total 53,555 47,964 EXPENDITURE ON Charitable activities Church activities 56,112 47.987 NET INCOME/IEXPENDITURE} 12,5571 1231 RECONCIUATION OF FUND5 Total funds brought forward 18,297 18,320 TOTAI FUNDS CARRIED FORWARD 15,740 18,297 The notes fomi part of these fjnancial statements Page4 Korean Christian Fellowsh- Balance Sh 31 December 2023 31.12.23 Unrestritted fund 31.12.22 Total funds Notes CURRENT ASSErs Debtors Cash at bank 6.730 22,231 15,740 15.740 28,961 CREDITORS Amounts falling due within one year 110,6641 NEf CURRE14T ASSETS 15.740 18.297 TOTAL ASSETS LESS CURRENT UABILETIES 15,740 18,297 NEf ASSETS 15,740 18,297 FUNDS Unrestricted funds 15,740 18,297 TOTAL FUNDS 15,740 18,297 The fina cial statements were approved by the Board of Trustees and authori5ed for issue on .9.. ... .... ..to7.*...... and were signed on its behalf by= C H KanE- Trustee The note5 form part of these financial ststements Pa8e 5 Korean Christian Fellowshl Notès to the Flnanria Statements for the Year Ended 31 December 2023 ACCOUNMNG POIICIES Basis of preparing the financial ststements The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in at¢ordance with the Charities SORP IFRS 1021 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Pracrice applicablè to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial 5taternents have been prepared underthe historical cost convention. Income All income is recogni5ed in the Statement of Financial Activities once the charity has entltlement to the fvnds, t 15 probable that the income will be received and the amount can be measured reliably. ExpendI￿re Liabilities arè reco8nised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured ￿lIablY. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to partiojlar headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed a55ets Depreciation is provided * the following annual rates in order to write off eath asset over its estimated useful life-. Plant & machinery.. 25% on a reducing balance ba515 Motor vehiEles.' 20% on a redueing balance basis. Ta¥ation The charity is exempt from tsx on it5 charitable attivities. Fund accounting Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the trustees. Restricted funds can only be used for particular ￿$trIcted purposes within the objects of the charity. Restriction5 arise when speafied by the donor or when fund5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statement5. INVESTMENT INCOME 31.12.23 31.12.22 Deposit account interest 270 Page 6 continued... Korean Christian Fellowshi Notes to the Financial Statements- continued for the Year Ended 310ecember 2023 TRUSTEES, REMUNERAnON AND BENEFITS There were no trustees. remunerbtion or other benefits for the year ended 31 Decèmber 2023 nor for the year ended 31 De￿mber 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. sfAFF COSTS The average monthty number of employees during the year was as follows.. 31.12.23 31.12.22 stsff employed No employees received emoluments in excess of £60.LI￿. COMPARAnVES FOR ThE STATEMENT OF FINAP4CIAL ACTivmES Unrestricted fund INCOME AND ENDOWMErirs FROM Donations and legacies 47.960 Investment income Total 47.964 EXPENDITUREON Charitsble activities Church activitie5 47,987 NET INCOMEIIEXPENDITURE) 231 RECONCILIATION OF FUNDS Totsl funds brought fotward 18,320 TOTAL FUNDS C4RRIED FORWARD 18,297 P38e 7 continued... Korean Christian FÈllDwshi Notes to the financial Statements- continued for the Year Ended 31 December 2023 DEBTORS.. AMOUNTS FALLING DUE w￿MIN ONE YEAR 31.12.23 31.12.22 Other debtors 6,730 CREDITORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.12.23 31.12.22 Taxation aAd social Security Other creditors 10,534 130 10,664 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 18.297 12,5571 15.740 TOTAL FUNDS 18,297 12.5571 IS.740 Net movement in funds. included in the above are as follow5: Incoming resources Resources expended Movement in funds Unrestrictèd funds General fund 53.555 156,1121 12,5571 TOTAL FUNDS 53,555 156.1121 12,5571 Comparatives for movement kn funds Net movement in funds At 31.12.22 At 1.1.22 unreStrkt￿ funds General fund 18.320 1231 18.297 TOTAL FUND5 18,320 1231 18.297 Pa8e 8 continued... Korean Christian Felhwsh- Notes to the Financial Statements- continued for the Year Ended 310ecember 2023 MOVEMEMf IN FUNDS- ¢ontinued ComparatNe net movement in funds. included in the above are as follows-. Incoming resources Resources expended Movèment in funds Unrestrirted funds Genera5 fund 47.964 147,9871 1231 TOTAL FUNDS 47.964 147,9871 1231 RELATED PARTY DISCLOSURES There were no related party transartions for the year ended 31 December 2023. Pa8e 9 Korean Chr15tian Fellowshi Detailed Slatement of Financial Artivitres for the Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donations and legaciès Donations 53,285 47,960 Investment incorne Deposit account interest 270 Total incomlng resources 53,555 47,964 EXPENDrruRE Charitable artivities Mission, fellowship & education Events Employment cost5 Conferences Sundry church expenses Hire of church premises Repairs and Maintenance Office equtpment 9.279 7.842 29,258 614 4,418 9,480 27,807 941 162 2.160 2.160 loo 5.906 55.159 44,968 Support costs Management Printing. postage & ststionery A£count3ncy & professiovlal Write off of assets previously held 465 326 720 1.822 465 2,868 Flnance