Charity number. I IS9276 Comp3thy nuthber. 09174169 The KoiTan Chui'ch L•ndon Trustees, Yeport finaneiai statements for the yew. ended 31 December 2023 JDACX)Z5 J 31IOW24 CCWPANIES HOUSE A10
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The Korean Chureh london Conten¢s Pge t£gal and administralive inf0ThtIOti In¢om¢ a)yl eXilture8cCOUlll Balance sheet N(kn5 to the r]nyClaI atemth] 8-10
The Korean chUh london Legal and administrative infonnation Charity number 159276 Company registration number 09174169 Registered offiee 37 Grove Cwt¢ni Kingsion U ThaTn¢% KTI 21 Trn5tees RevBHYoo DKKIM Dsl Accoun¢an15 Falcon House 257 Bwlinglon Ro New Malden Surrey KT3 4NE Bankers HSBC 66 High S¢1 New Maldcn Surrey KT3 4HD
The Korean Church london Report of the trustees (incorporating the directors, tTport) for the year ended 31 Deeember 2023 The trnstees pr¢s¢nt their report and the fancial slatcments for the year ended 31 December 2023. The trustees. who are also directots of The Korean Church ttdOn for the purtx)se$ of company law and who served during the Y and up the dare of this report are set out on page l. The accounts have been prepared in accordance with the a¢¢ounting poli¢i¢s sei out in note l. th¢ Companles A¢t 2006 and 'Accounting and Reporting by Charities." SlatrMe of Recottunended Pra¢tice applicable to chan.ties preparing their accounring accordance with the Financtal Reporting Standard applicable (SORP) in the UK and Republic of Iteland (FRS 102) (¢ff¢ctiY¢ l January 2015). Structiire• governante and management The Korean Church London is a rtEl$ter&l charily and is govewwj by its own c011sti1tsn. The opffition&l anagement of the or8anisatLon's day to day aciivitits are dele8ad tntses. Obj¢¢tivcs and aclivities Tlie mai objed olLht C<mwJpyis." To advan¢¢ Chn'$iianity ftligv)n in UK for the iEnEfit of the public thTOU8h thE holding of prayer ffleeting. lecturts, Worship and public celebration of Jtligious festsvals FTh1u¢U •rnl distrib1 liier8tur¢ on christilIY to enlighten others abwt tht Christiamty. Achievements an41 performance The donations have incrta5ed for year end 31 December 2023 10 amouni £161.739 from £159288 comparts io the lasi year. th¢ tstlw har Furxi Raising Cost & Ovetheads have a150 increased to amount £205.$01 and the difference contributed iodefJ¢it this year. The charity or8anises Sunday wKJtship setyiLt$ and emphasis was loid on i[¢0$1n8 monthly donations and controlliD8 costs. Funds generaled via regular donations totslled £161,739 up to year ended 31 Lkc£mber 2023 wkn"¢h 1$ 1% more thjn l&s¢ year. There was h deficit during the current year of £42.055. is to maintsin and where SSIble to increase donatson re£eipts. Statement of trustees, responsibilities The tnLStee$ < are a]) di$ of The Korean Clwjreh LoTthn for the pur5¢ of law) are reSp)1b]e for preparn¥ the TnJstees'AnnI Rep)rt aud the fIan¢1 atcordance withapplicable law ond Uniif4J Kingdom GTallY Accepled Accounting Pralee. Company law requu¢$ the tnLS¢S pr¢par¢ fi¢131 StaTentS for exh finan¢ial yeat whi¢h giv¢ a alL¢ and fair view of the stste of affairs of the charitsble Company aThl of the irKoming rts¢thrt$ and applic41iot) of resouttes. inGludin8 the income and exF¢ndibJrt. otthe charitable CoM[Y for that rrtriod. In preparin8 these rmanctsl stat¢m¢nrs. th¢ atE fcquiTrd to". select suitsbk a¢n@ TKJb¢i¢saThl aNbly them Clsl1y. obsetve the metlmmls ajid pnrKJples in the Charities SORP. make judgements aThJ estimates that are re&wnable pnMIl. sta whether applicable UK Accountin8 Stsndards FAve Ften followed. gjbject to any materiaj departures disclo$a and explajned in the fuja1)l statements" and prepaie the fu]0]dI Str*¢[5 on th¢ going basis Unl it L5 inapprowial¢ its prE5wn¢ thai th¢ chan'lable Company will ¢oniinu¢ in op¢talion. Page 3
The Korean Church london Report of the trustees (incorporating the dire¢tors' report) for the year ended 31 Deeember 2023 ThE trustees are res[01b1¢ (or keepin8 proper account8 records which dixlose with reasonable accurdcy at Ony lime the fmyncial p)sition of the charitsble Compally aTyJ I1¢h enable thun to ensure that the fjnancial slatements ¢omply with the Comphnies A¢1 2(. They sre also rc5ponsible for safcgLwding the a5scts of the charitable Company and hence foi iakll* reawnable $tep$ for the preve0 and tswion of fraud and othei ine8ularitJes. Small company provi$ion$ This rert has been prepatd in atc¥Mdarte with th2 SFecial pD)visw)ns for small canpani¢s Part IS of th¢ Companics Act 20. (kn Fthlfof the TnL8 Mr.DKKIM Truste¢ Date:
The Korean Chuirh london Independent examiner's report to the trnstees OA the unaudited fMwi¢ial 8¢a¢ements of The Korn Church ndOn. I rep)rt on the ofThe Kotean Chwrh LoThknL fty the year eThJtsl 31 fknber 2023 set out on pa8es 2 to 11. Respective responsibilities of trnstee5 ond independent etsmintr Thr cbaTity's trustee5 (th are also the dirECtors of Company for wryx)ses of cl>mnY law) are responble for the pr¢patotion of the acCots. Tr ML%¢5 ¢onsidtr #n a11[ is not requir&1 for this year undu 4312}of Chaniies Act 1993 (the Act). as ama)ded by section 28 of tlK Cljarities Act 21Xb ar¥J thjt )n JTh1eprnd¢nt txamina¢ion is ne4l¢d. IL is my iryonsibiiity to ¢xam¥ne the accounts uThl¢r sedion43(3Xa) of the ACL as amended: to followthe predureS iaTrd in the Geral Directions Ven by the Cknity Commission utthr section 43(7Xb) of the ACL Is aMertd' orJ to state parncular matter5 hav¢ COTne to my attention. Basis of Independent examiner's stalement My examination was cwried Qui inJccordw with the G¢nernl Dirc¢lion5 given by the Clwity Conuniwo An examination iludeS a review of the accountin8 ldS kepLby Ihe clwity a COMLof the a¢¢ounts presented wryth tho% rccords. It also Jttludes COld¢tIOn of any unu] items or disck>5us in the aceoitylls. and strku ¢xpianauoThs ftom you as t1¢¢$ any suth matt¢T5. The wotedurts dertAken do noi wivjde all the evte th8t wov]d be requir&1 in an audit alkl consequenlly r) opinion 15 given as to whether the accounts pre%nt a'ln aDA fair and the rewrt is Ilmited to th)se mattrss set Otsl in the stat¢m¢nt b¢ltsw. Independent examiner's statement Inc(Lltt0n with ffjy examinatior4 Th) matr has C(¢ lo my at*nlion.' (i) whl'ch 8ives me re&scable cause lo lIeVe thal in any material rewt the requirements.. to keep woper accountsn8 reconts ina¢¢otdanet with ts"on 386 of the Compnies Aet 2(thS' aj to prewe a¢¢owJts whi¢h a¢tord with the aCcountu comply with tlK 8c<ouTrtu requirements of Sttlion 395 of the Companies A with the method8 and principles of the Statement of Recommerded Practice.. Aceow]tw and Reporting by Chantie5 in accordanrK with th¢ Fina¢71 Rep)rtin8 Sthndatd applicable the UK aTKI Rqubkn¢ 011latl (FRS 102). have n¢t been mei. or (ii)to accoLnts to be Ln y ¢)pinIo artentith 51x)ukJ be dra in othr ¢b]e a propEr of the MASOOD SHAlltD Chartered CertIfd Accountant Independent examiner Fal¢on House 257 BuTlington Road New Malden Swtey KT3 4NE
The Korean Chureh london Income and expendi¢ure account For the year ended 31 December 2023 2023 2022 Notes Income Operatin8 ¢xpenth"(we 161.739 (205.501) 159288 (147,471) Operating surpluslldefjcit) Other inwme Interell receivable a]Ml similar intome (43.762) 11.817 1.707 134 1.707 134 134 Interesl payable and similar charges Retained surplu(defil) for the financial year (42.055) (191) (42.055) 11,760 The notes OD page$ 8 to 11 fom an ititegrnl part of thE* fingncial $tatement Pagts.
The Korean Thurch london Balante sheet AS at 31 December 2011 2023 2022 rkntej Current wets D¢btotS C&5h at boj and in hand 212,516 254571 212.516 254.571 Creditors: amounts f4lling due wilhin one year (4.69)) (4.690) Net currenl eS 207.826 249,881 Net assets 207.826 249.881 Funds Unrestricd irKome fiu¥Js 207.826 249.881 Total funds 207.826 249,881 The Balance Sheet conlinues on tl followiDg page. The notes OD pges 8 th li fom • integTrl part of thtse fino¢i4151¥t¢m¢ots. Pag¢ 6
The Korean london Balance sheet (continued). Trustee5 Jtaternents requirnl by the Compgnies Act I6 for the year ended 31 December 2023 In approvin8 these fIrrJaI ststements as trwees of the Company. confmn.. (a) thai for th¢ year ab)ve. tJ Compjny fntided exernpti e4>nfenrd by sgction 477 of the Cotnpanie$ (b) that no notice Fs tren depositsj al tbe rewsred office of theCTrDpny [want10 110 476 of the Companie$Acl 2(¥JS audit coDducte4J for the year enthd 31 Ikcemt*r 2023. {c) that WE &knowledge ow r¢5pJn5ibilitie5 for". {1) ensuring that the Cornpany keqjs proF¢r ac£ounti retrth 1¢h comply with tion 386 of the Companies Act 2(X16. and (2) preparing fanCIal $tatemenLS wkn"¢h8iv¢ a aNI fair viwof th¢ SOr 8ff•itsof th¢ Company as at the ¢ndof th¢ rUwla] year and of its profit or loss for th year then in8ccoT with the ]wuirements of tiOnS 394 8nd 395, d Mthi¢h otherwise cornply withthe provisionsof thecompnies Act rela to fJnarKial slatemtnts, so far as applicable to the Company. These fmancial statements are prepaTtsI in accordw with the strtial pmi$ions of P¥rt 15 of th¢ Compaoies Act 20(6 r¢l3ting to small cotnpanie5 aTrl in accordance with the Fitiancial Re[in8 Stat)Jard for Smaller Entities (effective Apnl 2008). The fts)8nci81 $tst¢menis Mtle apFYovcd by th¢ bofjrd on ar¥J si8nsJ on its E¢lMlf by Mr. D.K. KIM Trustee Tb¢ no1¢5 on pages 8 10 IA form aD integral part of tbese financial 3tatemeDtS.
The Korthgn Church london Notes to finantial statements foi. the year ended 31 Deeember 2023 Accounting policies Th¢ pnn¢ipal p)licics arc lOw. Tr xcountin8 tli¢1e5 have kn applio cowlstrY th[0u¢ the ye&r aThJ the wccc4Jir4 year. 1.1. BlS of atcounling Tr ruwi¢iai 5thtern¢nts arc p¥cpArtd utthr the h"LStorical crA%t convention aTrJ in aceordance with the Financial ReportUl8 StsThlard for SmAlleiEntiti¢S {¢ff¢cliv¢ April 2(8). the Ststemcnl of Recommended Pra¢tice 'AecoLrn ar¥J RenIr by Chan"iies' i&8Ld inM8rth 2(KJ5 (SORP 2W5) a1 th¢ Compani¢s Act 2CXI6. 1.2. Incoming r¢sourrcs All i1Ming TeSWCeS are inclLMleA in the siatemeN of fmancial auivities WI the ¢lkqrity is ¢nts"dtht the inc(meartd the aJnount be4uaJLtified with rt4sonabk accuracy. The followin8 specifK rA)licies are applied to panicu]ar caie8ories of irtome" Volillitary Ln¢om¢ i$ e1Ved by way of grdnts. d¢)natio and 8iftsar#l is in full in th¢ stai¢m¢ni of flnallcial xtivities when receivable. Grants whe¥e entitlemeni is Tjtsi wndilioml on the deiivthy of specifK by the ctharity. ue reco8nised wh&) the chtriry bMe$ Ltt)coThlitionally entit]ed lo the 8rant. Ihnakd services and fa¢ili¢i¢s aTE inCIJed at tk value to thr charity where this be qLwntifJed. The Val of wices providd by volwitC¢Y5ha5 t iMI illcluded. Gifts donad fortes&le 8re itL¢luded a5 incornin8 resourees withm activities for fd$ wlxn they OT¢ sold. Grarts. incl4Mling grants for the pwchaof red assets. 8[¢ in fvll in the $thtrm¢ntof acb"vitses in the yw in which they are receivable. Incorne Irom inve#m&)ts is I[ in th yw in which it is receivab IJ. Resources expended Expendilure is rewised on an xcDJal basi8 as a liabib.ty is incu[r. ExwdittJr¢ incl1¢$ any VAT which ¢anTh)i be fvIIy T0Vered. aTMI is retthed as pan of the exp&Ille to which it relates. Costs of 8erffttu¥ fiJThls comwise the ¢osts asso¢141 withatts3ciing voluntary irKomc aTxI the costsof trading for fidraising PUqMW incIudtt the thaTity'$ slw. Chatitable eXpW]ty[e wmwises those costs iticurted by the charity in the debvery of its actsviixes and $iCe lor its beneficiaries. It JKILbJes bh wsts that can be allocated directly (o aciiviiiES and th costs of an ind1[t nature necessary to suppon Fundraisllkq cost% are iwwr¢d in %¢kir4 voluntary contribu11 and do rK&t Indle the costs of di55emiDatinB information in suppM of the ch]bk tiVIti&. Supwt ¢Os are those costs ittutTed dJr¢aly in sup of¢xwMlItt on thE d>jwts of th¢ chlty aTrJ I]1¢ wojrft managemenL Page 8
The Korean chUh london Notes to finaneial statements for the year ended 31 December 2023 2. Voluntary income )23 Total 2022 Totol Donations Granrs receivab]e 161.739 159.288 161.739 159,288 DoDalioDs ynd gifts SuDday OfferiD8 Tithc$ Th&nks GIvm8 Salvation Offering MissioTWy Gifi Aid Special fund ofteTing 33.023 79.773 13.633 8.058 5(X) I7,TTI 8.981 24.822 93.645 12.330 8,711 660 17.779 1,341 161.739 159.288 3. Investment income . 2023 Total 2022 T•¢•1 Other Inter1 rtIVable 1.707 134 1.707 134 Py¢9
The Korean Church london Notes to finaneial stattsnents foj. the yeAr ended 31 December 2023 Employees Employmen¢ costs 2023 21122 Wages and sa]aries S(la1 $UrIty costs Pension costs Other costs 59.252 71.273 1.018 1.018 60.270 72.291 No employee received ernoluments of more than £60.12022 .. Noue). of fujancial activitsts and does noi }rtc1le amounts It11 m othET fuwjce c05t pnd 8LSed gain5 and lo$ses. Number of employtts Th¢ av¢r48¢ month]y numttrs of wloyee5 (Incl the Inksttts) duru)8 the y¢ar. calculat&l on th¢ bqsis of fiLJI tim¢ ¢quivaknts. *•s 8$ follow5: 2023 Nthmber 2022 Number TLxation Th¢ charitys activities fall within the exempiiofts affordd by the povi$ion$ of th¢ In¢om¢ 8tsJ C¢)fPOrnLion T8X¢S Act 1988. ActotdllJ8ly. there is no l&xation Charge in these accounts. Debtors 2023 2022 Other debtors P¥ge Il)
The Korean Church london Notes to financial statements for the year ended JI December 2023 Creditors: amounts falling due within one year 2023 2022 730 730 3.%0 Accruals and deferred income 4.690 4.69X) Unrestricted funds At A¢ 01 January In¢owing Outgoing 31 D¢cemb¢r 21123 rtsourres re50urr¢s 21123 Unrestricted Fw 249,881 16J.446 {205.501) 207.826 Page 11
The Korean Chureh london Th¢ following pages do not form part of the statOry attounts. Pw12
The Korean Church london Detailed stateme4Jt of financial activities For the year ended 31 Deeember 2023 2023 2022 In¢oming resources Ineoming resourtes from genernting funds: VolUtary income Donatiotjs Grants recelvable 161.739 159.288 161.739 159,288 Other intrresi Te¢eivabt¢ 1,707 134 1,707 134 Tolal incoming resourtes from generating funds 159422 Total inwming resoun¢s 159422 ' Pagt 14
The Korean Church london Detailed statement of financial attivities For the year ended 31 December 2023 2023 1022 Svpport Support- Staff - Wage5 & salari Support- Stsff - Employ¢¢$ NIC Support- stsff - Penston costs Support- Stsff . sevcn¢¢ Pay Support- Estsblishm¢ni- L]8hi & heat Support- Establi5hment- R¢paits & mainw SuppoTI- Estsbli%hm¢nt- INut Support- Church Supplies Support. Church Events sUppt-ChurCh Eveni {Wotslu"p) sUpprt. Oth¢T & travell]rt8 Support- Church Family Visits Support. Bwks & Seminars Support. MJssiot]ary Aid Support- Office expen5es- TeAeFtho Supwt- Office expaLK5.Ptin¢ing & &ation¢ry Support. Adho¢ Supp)rt Salvaiion Ex Graiia EXpeS Subs¢riptitsn5 External Lectwe labrALr A¢¢omt ILegal Stknlarship Support. Lictsue Fee 59252 71.273 1.018 3.929 7.012 64,539 1.018 4,025 3.515 6,642 2,370 2213 2.383 763 26.059 31.784 972 429 10.3 10.81KJ 2.100 1.150 2fi82 946 Total fundraising trading eost of gwds sold and o¢hercos¢s Tolal costs of generating funds 144 $19 Page 14
The Korew Church london Detailed statement of financial a¢tivities For the year ended 31 December 2023 2023 2022 Charitable activities Covernaoce costs Svppcwtcosls Prolessional fee Sw)port- Professi*1- Accoun1aY ff Bank Charges 2.952 131 2.952 3.083 3.143 Total governance cosls 3.083 3,143 Net ineomingl(outgoing) resources for the year Page 15