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 #207 The Korean Chureh london Conten¢s P*ge t£gal and administralive inf0Th￿tIOti In¢om¢ a)yl eX￿￿ilture8cCOUlll Balance sheet N(kn5 to the r]ny￿ClaI *atemth] 8-10 The Korean chU￿h 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 f￿ancial 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$ter&l charily and is govewwj by its own c011sti￿1tsn. The opffition&l anagement of the or8anisatLon's day to day aciivitits are dele8a*d ￿ tnts*es. Obj¢¢tivcs and aclivities Tlie mai* objed olLht Cm￿nY law) are respon*ble for the pr¢patotion of the acCo￿ts. Tr ML%￿¢5 ¢onsidtr #n a￿11[ is not requir&1 for this year undu 4312}of Chaniies Act 1993 (the Act). as ama)ded by section 28 of tlK Cljarities Act 21Xb ar¥J thjt )n JTh1eprnd¢nt txamina¢ion is ne4l¢d. IL is my iryonsibiiity to ¢xam¥ne the accounts uThl¢r sedion43(3Xa) of the ACL as amended: to followthe pr￿edureS iaTrd in the G￿eral Directions ￿Ven by the Cknity Commission utthr section 43(7Xb) of the ACL Is aMertd￿' or*J to state parncular matter5 hav¢ COTne to my attention. Basis of Independent examiner's stalement My examination was cwried Qui inJccordw with the G¢nernl Dirc¢lion5 given by the Clwity Conuniwo An examination i￿ludeS a review of the accountin8 l￿dS kepLby Ihe clwity a COM￿L￿￿of the a¢¢ounts presented wryth tho% rccords. It also Jttludes CO￿ld¢￿tIOn of any unu￿] items or disck>5u￿s in the aceoitylls. and strku￿ ¢xpianauoThs ftom you as t￿￿1¢¢$ any suth matt¢T5. The wotedurts dertAken do noi wivjde all the ev￿￿te 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(*Ll￿tt0n with ffjy examinatior4 Th) mat*r has C(￿¢ lo my at*nlion.' (i) whl'ch 8ives me re&sc￿able 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' a￿j to prewe a¢¢owJts whi¢h a¢tord with the aCcountu￿ ￿ comply with tlK 8cnfenrd by sgction 477 of the Cotnpanie$ (b) that no notice F*s tr*en depositsj al tbe rews*red 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￿ retr￿th ￿1¢h comply with ￿tion 386 of the Companies Act 2(X16. and (2) preparing f￿anCIal $tatemenLS wkn"¢h8iv¢ a aNI fair viwof th¢ S￿￿Or 8ff•itsof th¢ Company as at the ¢ndof th¢ rUw￿la] year and of its profit or loss for th year then in8ccoT￿ with the ]wuirements of ￿tiOnS 394 8nd 395, d Mthi¢h otherwise cornply withthe provisionsof thecompnies Act rela￿ to fJnarKial slatemtnts, so far as applicable to the Company. These fmancial statements are prepaTtsI in accordw with the strtial pmi$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 $tst¢menis Mtle apFYovcd by th¢ bofjrd on ar¥J si8nsJ on its E¢lMlf by Mr. D.K. KIM Trustee Tb¢ no1¢5 on pages 8 10 IA form aD integral part of tbese financial 3tatemeDtS. The Korthgn Church london Notes to finantial statements foi. the year ended 31 Deeember 2023 Accounting policies Th¢ pnn¢ipal p)licics arc ￿lOw. Tr xcountin8 t￿li¢1e5 have kn applio cowlstr￿￿Y th[0￿u¢ the ye&r aThJ the wccc4Jir4 year. 1.1. B￿lS of atcounling Tr ruwi¢iai 5thtern¢nts arc p¥cpArtd utthr the h"LStorical crA%t convention aTrJ in aceordance with the Financial ReportUl8 StsThlard for SmAlleiEntiti¢S {¢ff¢cliv¢ April 2(￿8). the Ststemcnl of Recommended Pra¢tice 'AecoLrn ar¥J Re￿nIr* by Chan"iies' i&8L*d inM8rth 2(KJ5 (SORP 2W5) a￿1 th¢ Compani¢s Act 2CXI6. 1.2. Incoming r¢sourrcs All i1￿Ming TeSWCeS are inclLMleA in the siatemeN of fmancial auivities WI￿ the ¢lkqrity is ¢nts"dtht the inc(*meartd the aJnount be4uaJLtified with rt4sonabk accuracy. The followin8 specifK rA)licies are applied to panicu]ar caie8ories of irtome" Volillitary Ln¢om¢ i$ ￿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 b￿Me$ Ltt)coThlitionally entit]ed lo the 8rant. Ihnakd services and fa¢ili¢i¢s aTE inCI￿Jed at tk value to thr charity where this ￿ be qLwntifJed. The Val￿ of wices providd by volwitC¢Y5ha5 ￿￿t iMI illcluded. Gifts dona*d fortes&le 8re itL¢luded a5 incornin8 resourees withm activities for f￿d$ wlxn they OT¢ sold. Grarts. incl4Mling grants for the pwcha*of r￿ed assets. 8[¢ in fvll in the $thtrm¢ntof acb"vitses in the yw in which they are receivable. Incorne Irom inve#m&)ts is I￿[￿ in th yw in which it is receivab IJ. Resources expended Expendilure is rewised on an xcDJal basi8 as a liabib.ty is incu[r￿. ExwdittJr¢ incl￿1¢$ any VAT which ¢anTh)i be fvIIy T￿0Vered. aTMI is retthed as pan of the exp&￿Ill￿e to which it relates. Costs of 8erffttu¥ fiJThls comwise the ¢osts asso¢14￿1 withatts3ciing voluntary irKomc aTxI the costsof trading for fi￿draising PUqMW incIudtt￿ the thaTity'$ slw. Chatitable eXpW￿]ty[e wmwises those costs iticurted by the charity in the debvery of its actsviixes and $￿iCe￿ lor its beneficiaries. It JKILbJes b￿h wsts that can be allocated directly (o aciiviiiES and th￿ costs of an ind1[￿t nature necessary to suppon Fundraisllkq cost% are iwwr¢d in %¢kir4 voluntary contribu11￿￿ and do rK&t Ind￿le the costs of di55emiDatinB information in suppM of the ch￿]￿bk ￿tiVIti&￿. Supwt ¢O*s are those costs ittutTed dJr¢aly in sup￿￿ of¢xwMlItt￿ on thE d>jwts of th¢ ch￿lty aTrJ I￿]￿1¢ wojrft managemenL Page 8 The Korean chU￿h london Notes to finaneial statements for the year ended 31 December 2023 2. Voluntary income )23 Total 2022 Totol Donations Granrs receivab]e 161.739 159.288 161.739 159,288 DoDalioDs ynd gifts SuDday OfferiD8 Tithc$ 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 Inter￿1 r￿tIVable 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 $￿UrIty costs Pension costs Other costs 59.252 71.273 1.018 1.018 60.270 72.291 No employee received ernoluments of more than £60.￿12022 .. Noue). of fujancial activitsts and does noi }rtc1￿le amounts It￿1￿￿1 m othET fuwjce c05t pnd ￿8￿LSed gain5 and lo$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 sta￿tOry 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: VolU￿tary 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 . sev￿cn¢¢ Pay Support- Estsblishm¢ni- L]8hi & heat Support- Establi5hment- R¢paits & mainw SuppoTI- Estsbli%hm¢nt- INut Support- Church Supplies Support. Church Events sUpp￿t-ChurCh Eveni {Wotslu"p) sUpp￿rt. 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 EXpe￿￿S 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- Accoun1a￿Y 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