CbttTity number: 1159276 Company number: 09174169 The Korean Church Londoll Trustees, report and financial statements for the year ended 31 December 2024 The Korean Cbiirch london Contents Page IKgal aiid adniillistrative infornmtion Trustees, report Independent examiners, report Incorne and expenditure account Balance sheet Notes to the financial stateinents 8-11 The Kore&n Church london LegaI and administrative information Charity Dumber 1159276 Company registration number 09174169 Registered office 37 Grove Crescent ICID￿t0￿ Upon Thames Su￿eY KTI 2DG Trustees RevBHYoo DKKIM DSLee Accountants I(AMP CHARTERED AccouNfANTS Fal¢on House 257 Burlington Road New Malden Surr¢y KT3 4NE Bankers 14SBC 66 14igh Street New Malden Surrey KT3 4HD i• Page I The Korean Church london Report of the trustees (incorporating the directors, rei)ort) for the year ended 31 December 2024 The trustees piEsent their report and the financial statements for the year ended 31 December 2024. The trustees, who are also directors of T]ie Korean Church London for the purposes of cOmp￿]Y law and wlio Se￿¢d during the year and up to the date of this report are set out on page I, The accounts have been prepared in accordance with the accounting policies set out in note I, tlie Companies Acl 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing tlieir accounting accordance with the Financial Reporting Standard applicable (SORJ)) in the LIK and Republic of Ireland (FRS 102) (effective l January 2015)" Structur4 governance and Inallagement The Korean Church London is a registered Oh￿.1tY and ig goveined by its own constitution. The operational manwment ofthe organisation's day to day activities arc d¢l¢gated to bustses. Objectives and activities The main obj¢cl of the CompqFJy is.. To advallC¢ the Christianity religion in UK for the benefit of the publiG througli tlie holding of prayer meeting, lectures, Worship and public ¢¢lebrdtion of religious festivals producing and distributing literature on Christi&nity to enlighten others about the Christianity. AchieV￿nentS and perforniance The doiiations have Inc￿aSed for year end 31 D¢Gember 2024 to amount £170,181 from £161.739 cotnparing to the last year. On the other hand Fund Raising Cost & 0￿rhead5 have also i'educed to amouiit £143,417 and the differen¢¢ Gontributed to deficit this year. The charity organises Sunday worship services and emphasis wa5 laid on iiicreasing mondjly donations and controlllljg costs. Funds generate4[ via regular donations totalled £166,957 up to year ended 31 D¢c¢mber 2024 wliicli is 3 % more than last year. There was a increase in funds during the ¢urrent year of £26,764. Focus is to maintain and where possible to increase don&tion i'eceipts. statement of trustees, r￿ponSIbIlitieS Th¢ trustees (wlio are also directors of The Korean CIiuTch London for the purpose of conipany law) 8re responsible foi. preparing the Ti'ustees, Annual Report &nd the financial statements in accordance with applicable law and United l(ingdom Generally AC￿pted Accounting 14'acti¢e. Company law requires the t￿￿tee$ to prepare financial statements for eacli finallcial year which give a true and fair view of the state of affairs of the Gh￿'[table Company aiid of the incoming resouires and application of resources, including the inc()ine and expenditure, of the charitable Company for that period. In preparing th¢se financial 5taternents, the trustees are required to.. select suttable accounting poIicies and then apply them consistently> obs¢rv¢ the rnethods and principles in th¢ Clwities SORP. mak¢ judgements and estiinates tliat are reasonable And pi'udent" state wh¢ther applicable UK A¢¢ounting Standards Iiave beejk followed, subject to any material departures disclosed and explained in the fIn￿]Gla1 statetnents,. and pi'epare the financial stat¢meiits on the going concern basis unless it is inappropriate to presurne that the ch￿'Itable Con)pany will continue in operdtion. P%ge 2 The Korean Chui'ch london Report of the trustees (incorporating the director6, report) foi. the year ended 31 December 2024 Th¢ trustees are responsible for keeptng proper accounting reGords whioh disclose with reasonable ac¢uracy at any time th¢ f￿anCIal position of the charitable Compat)y and which enable them to ensure that th¢ financial statements comply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and l)ence for taking reasonable steps for the prevention and detection of fraud and other irre£ularities. Small company provisions Tliis Teport has been prepared in accordance with the special provisions for small companies uiider Part 15 of the Companies Act 2006. On behalf of the Trustees Mr.DKKIM Trustee Date: Page 3 The Korean Church london Independent examiner's report to the trustees on the unaudited financial statements of The Icorean Church ￿ndOll. J report on the aowiints of The Korean Church London for th¢ ye￿. ended 31 Deceiiiber 2024 set out on pages 2 to ii. Respective responsibiIitles of trustees and independent examiner The charity's trustses (who are also the directors of the CoEnpany for purposes of company law) are responsible for the preparatioi) of the accounts. The trustees Consider that an audit is not required for this year under section 43(2) of the Charities AGt 1993 (the Act), as amended by section 28 of the Charities Act 2006 and that an independent examination is needed. It is Any responsibility to examine the ac¢ounL£ under section 43(3)(a) of the Act, as amended. to follow the procedures laid down in the General Directions given by the Cliarity Commission under section 43(7)(b) of the ACL as ameiided" and to state whether particujar matters have come to my attention. Ba515 of independent examlner's statement My exarnination was Garried out in accordaii¢e with the Genera] Directions given by th¢ Charity Commission. An examinalion includes a review of the accounting record's kept by the charity and a coinparisoii of the accounts pres¢nt¢d with tt]ose i'ecords. It also includes ¢onsiderdtion of any unusual items or disclosures in the ac(x)unts. and seeking explanations from you as ti'ustees con¢a'ning ￿}Y such matters. The procedures uiideriaken do not provid¢ Esll tlie evidence that would be required in an audit ￿ld consequ¢ntly no opinion is given as lo whether the accounts present a't￿e and fair vieMO and the report is limitsd to those matters set out in th¢ statement below. Independent exa￿l￿er'S statement In connection with my examination, no inatter has come to my attention: (i) whiGh gives me rga50nabl¢ ￿use to believe that in any m&terial respect the requir¢ments,' to keep proper Accounting records in accordan¢g with s￿tion 386 of the Companies Act 2006. and to prepare accounts which a￿ord with tl)e accounting reconls, coinply with the a¢¢ounting r¢quii'ements of section 396 of the Companies Act 2006 and with the methods and principles of th¢ Statsment of Re¢ommended Practice: Accounting and Reporting by Charities in accordance with the Financial Reporting Stsndard appliG&ble in the UK and Republi¢ of IrelAnd (FRS 102). ave not been met" or (ii)to which, in my opinion, attaition sbould be drnwn in order to ￿able a proper underst8ndin£ of the aGGounts e reached. MASOOD SHAHID Chartered Accollntallt Independent examiner Falcon House 257 Burlington Road New Malden Surrey KT3 4NE Page 4 The Korean Church london Income alld expenditure account For the year ended 31 December 2024 2024 2023 Notes Iiicome Operating expenditure 166,957 161,739 (143,417) (205,501) 23,540 (43,762) Operating surplus/(deficit) Other income Interest receivable and Similar income 3,224 1,707 3224 1,707 Inter&8t payable and sfimilar charges Retained siirplusl{deficit)- for the fiiiancial year 26.764 (42,055) 26,764 (42,055) The notes on pag&5 8 to 11 foi'm An integr¥tl part orth￿e flnancial statements. Page 5 The Korean Cburch lolldon Balance sheet as at 31 December 2024 2024 2023 Notes Cllrrent assets Debtoi's Cash at batfft and in band 236.390 212,516 236,390 212,516 Creditors: amoullts falling due Ivithin one )'ear (1,800) (4,690} Net currellt assets 234,590 207,826 Net assets 234,590 207,826 Funds Unrrstricted income funds 234,590 207.826 Total funds 234,590 207,826 Th¢ Balance Sheet ¢ontinues on the following page. The notes on pAges 8 to 11 fonn integi'AI part of these finAnclAI statements. PAge 6 The I 4,690 Unrestricted funds At At 01 jan[￿rY Incoming Outgoing 31 Deeember 2024 resources resourc08 2024 Uni'estricted Fund 207,826 170,181 (143,417) 234,590 Page 11 The Korean Chllrch london The foIlowing pages do not form part of the ststutory accounts. Page 12 The Icorean Church london Detailed statement of finAneial aetivities For the year ended 31 December 2024 2024 2023 Incomfing resources Incoming resources from generating funds: voluntary income Donations Grants receivable 166,957 161,739 166,957 161,739 Investmeni 1￿ctIMe Otlier interest receivable 3,224 1,707 3,224 1,707 Total illeoming resources from generating funds 170 181 163 446 Total incoming resources 170 181 Page 13 The Korean Church london Detailed stotemellt of fillaneial activities Ilor the year ended 31 December 2024 2024 2023 Support ¢osts SuppK)rt- Staff - Wages & salaries Supw)rt- Siaff - Employerfs Ntc Support- Staff - Pension costs Support- St&ff - Severence Pay Support- Establishrnent - L(ght & heat Support- Establishinent - Repairs & Mainten￿]Ge Support- Establishment - Insurdnce Support- Church Supplies Support- Chvroh Eveiits Support- ChLrch Bvent,(Worship.) Support- Other motor & travelling expenses Support- Church Family Visits Support- Books & Seminars Support- Missionary Aid SuppDrt- Offjce expenses- Telephone Support- OffIee expenses-Printing & Statioiiery Support- Adlioc Support Salvation Ex Gratia Expenses Subs¢riptions External Lecture Labour AccoLU)t I Itgal Support- Scholarship Support- License Fee 65,771 59,252 1,018 3,001 4,001 20.779 5,305 1,018 3,929 7,012 64,539 3,660 9,013 1,288 432 15,121 2,213 564 14,665 890 1,309 26,059 888 429 10,300 10,300 1,000 1,1.50 1,024 3,600 1,150 2,682 140 946 202 418 Total fundrllising trading cost of goods sold alld other costs 140 946 Total costs of gelleratlng fullds 140 946 202418 Page 14 The Korean Church london Det,oRled statement of financial activities For the year ended 31 December 2024 2024 2023 Charitable aL'tivlties Governance costs Support casts Professional fee Support- Pn)fessional - Accountsncy fees Bank Cli&rg¢s 2,368 L03 2,952 131 2,471 3,083 Total goverllance costs 2,471 3,083 Net incomlng/(outgoing) resources for the year 143 417 205 Pagc 15