2021-03-31-accounts - London City Korean Church

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

`Report of the Trustees and`

UnauditedFinancialStatementsforTheYearEnded31March2021
for
LONDON CITY KOREAN CHURCH

KAMP ACCOUNTANTS LTD

CHARATED CERTIFIED ACCOUNTS

MARSHALL HOUSE 124

MIDDLETON ROAD

MORDEN

 SM4 6RW

`LONDON CITY KOREAN CHURCH`

ContentsoftheFinancialStatements
fortheYearEnded31March2021

	`Page`
`Report of the Trustees`	`1 - 2`
`Independent Examiner's Report`	`3`
`Statement of Financial Activities`	`4`
`Balance Sheet`	`5`
`Notes to the Financial Statements`	`6 - 7`
`Detailed Statement of Financial Activities`	`8`

LONDON CITY KOREAN CHURCH

`Report of the Trustees for`

theYearEnded31March2021

Thetrusteespresenttheirannualreportandfinancialstatementsofthecharityfortheyear
ended31March2021.Thefinancialstatementshavebeenpreparedinaccordancewiththe
accountingpoliciessetoutinnote1totheaccountsandcomplywiththecharity’strustdeed,
theCharitiesAct2011andAccountingandReportingbyCharities:StatementofRecommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting
StandardapplicableintheUKandRepublicofIrelandpublishedon16July2014.

REFERENCE AND ADMINISTRATIVEDETAILS

RegisteredCharityNumber

Principaladdress
St.CypriansChurch,GlentworthStreet
London NW1 6AX

Trustees

MrJongManKim
MrInChangKim
MrSuhanJeon
MrJungHwanYang

Independentexaminer

KAMP ACCOUNTANTS LTD

Marshall House, 124 Middleton Road Morden SM4 6RW

 STRUCTURE,GOVERNANCE ANDMANAGEMENT

Governingdocument

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesan
unincorporatedCharity

Organisationalstructure

ItisrunentirelybyvolunteerswhoallbelieveGodandfollowJesusintheirlifethe
Christianreligion.SinceLondonCityKoreanChurchiscreatedandpresentedforreligious
activities4Trusteesand15-20volunteersandabout50membersareinvolvedintoour
activities.KeyPartners-IPC(InternationalPresbyterianChurch),IPCKP(International
PresbyterianStCyprian'sChurch).

Riskmanagement

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposed
andtoensureappropriatecontrolsareinplacetoprovidereasonableassuranceagainst
fraudanderror.

Page 1

LONDON CITY KOREAN CHURCH

`Report of the Trustees for`

`the Year Ended 31 March 2021`

`OBJECTIVES AND ACTIVITIES`

Objectives and aims

TheobjectivesoftheLondonCityKoreanChurchareasfollows;Itaimstospreadthe
knowledgeoftheBibletothepeople.Italsoaimstoencouragepeopletoenjoyalifeanda
wonderfullifewithlotsofdifferenttypesofculture.

`Activities`

TheactivitiescoveredintheseaccountsfallwithintheworkofLondonCityKoreanChurch.
They are ;

. Worship - to increase awareness of God's presence and celebrate God's love.
. Learning and Caring - to help people to learn and grow as Christiana, through mutual support and care
. Service - to be a good neighbour to people in need and challenge injustice; and
. Evangelism - to make more followers of Jesus Christ
. Conference - to help people to know and develop as Christian who belongs to God in order to help people to improve the Bible knowledge.

.Fellowship-tohelppeopletodevelopwellcommunicationwithotherpeople.

`ACHEIVEMENT AND PERFORMANCE`

`Charitable activities`

Since London City Korean Church is created, we give services of worship every Wednesday

andSundayandatleastonceamonthwehaveasecondworshiponSunday.Wetrytohelp
byteachingandmakingthemtobeChristianasittrulychangestheirlifeinabetterway.
Thereforeweprovide:

1. human resources for worship

2. building/facilities/open space to people of particular ethnic or racial origin,

3. service of worship to public

4. advocate/advice/give information to people who need help

5. act as an umbrella or resource body

Wedobelievethiswillmakethisworldbetterandpeoplewillrespecteachother.

Approvedbyorderoftheboardoftrusteeson31March2021andsignedonitsbehalfby:

----- Start of picture text -----
Trustees
___
----- End of picture text -----

Page 2

IndependentExaminer'sReporttotheTrusteesof
LONDON CITY KOREAN CHURCH

Ireportontheaccountsfortheyearended31March2021setoutonpagesfourtoseven.

Respectiveresponsibilitiesoftrusteesandexaminer

Thecharitiestrusteesareresponsibleforthepreparationofaccounts.Thecharitiestrustees consider
ifanauditisnotrequiredforthisyear(underSection144(2)oftheCharitiesAct 2011(the
2011Act)andthatanindependentexaminationisrequired.

It is my responsibility to:
examine the accounts under section 145 of the 2011 Act
to follow the procedure laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
to state whether particular matters have to come to my attention
Basis of independent examiners report

MyexaminationwascarriedoutinaccordancewiththeGeneralDirectionsgivenbythe
CharityCommission.Anexaminationincludesareviewofaccountingrecordskeptbythe
charityandacomparisonoftheaccountspresentedwiththoserecords.Italsoincludes
considerationofanyunusualitemsordisclosuresintheaccounts,andseekingexplanations
fromyouastrusteesconcerninganysuchmatters.Theproceduresundertakendonot
provideallevidencethatwouldberequiredinanaudit,andconsequentlynoopinionisgiven
astowhethertheaccountspresenta'trueandfairview'andthereportislimitedto
thosematterssetouttothestatementsbelow.

Independent examiners statement
In connection with my examination, no matter has come to my attention:
(1) which gives the reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

KAMP ACCOUNTANTS LTD

Marshall House, 124 Middleton Road Morden SM4 6RW

31 March 2022

Page 3

`LONDON CITY KOREAN CHURCH`

`Statement of Financial Activities`

fortheYearEnded31March2021

`Statement of Financial Activities` `for the Year Ended 31 March 2021`
`INCOMING RESOURCES` `Notes` `Incoming resources from generated funds` `Voluntary income` `JRS income` `Total incoming resources` `RESOURCES EXPENDED` `Costs of generating funds` `Costs of generating voluntary income` `Charitable activities` `Costs of generating voluntary income` `Governance costs` `Total resources expended` `NET INCOMING RESOURCES` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`Unrestricted` `fund` `Unrestricted` `fund` `£` `2021` `£` `2020` `52,503` `60,593` `24,947` `-`
		`77,450` `66,593` `7,480` `16,548` `32,484` `40,351` `1,020` `426`
		`40,984` `57,325`
		`36,466` `3,268` `9,137` `5,869`
		`45,603` `9,137`

Page 4

`LONDON CITY KOREAN CHURCH`

`LONDON CITY KOREANCHURCH`
`Balance Sheet` `As at 31 March 2021` `Notes` `CURRENT ASSETS` `Debtors` `Cash at bank and in hand` `5` `CREDITORS` `Amount falling due within one year` `6` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT LIABILITIES` `NET ASSETS` `FUNDS` `Unrestricted funds` `7` `TOTAL FUNDS`	`Unrestricted` `Unrestricted` `fund` `fund` `£` `£` `2021` `2020` `-` `46,556` `-` `10,090` `46,556` `10,090` `953` `953`
		`45,603` `9,137` `45,603` `9,137`

		`45,603` `9,137`
		`45,603` `9,137`
		`45,603` `9,137`

ThefinancialstatementswereapprovedbytheBoardofTrusteeson31March2022andwere
signedonitsbehalfby:

----- Start of picture text -----
…………………………………………………………
Trustee
----- End of picture text -----

Page 5

LONDON CITY KOREAN CHURCH

NotestotheFinancialStatements

fortheYearEnded31March2021

`1. ACCOUNTING POLICIES`

Accountingconvention

Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,exceptfor
investmentswhichareincludedatmarketvalueandtherevaluationofcertainfixedassetsandin
accordancewiththeCharitiesSORP(FRS102)‘AccountingandReportingbyCharities:Statementof
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1
January2015)’,FinancialReportingStandard102theFinancialReportingStandardapplicableinthe
UKandRepublicofIreland(FRS102),andtheCharitiesAct2011.
Incomingresources

AllincomingresourcesareincludedonStatementofFinancialActivitieswhenthecharity
islegallyentitledtotheincomeandamountcanbequantifiedwithreasonableaccuracy.

`Resources expended`

Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings
thataggregateallcostsrelatedtothecategory.Wherecostscannotbedirectlyattributed
toparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththe
useofresources.

Taxation

Thecharityisexemptfromtaxonitscharitableactivities.

Fundaccounting

Unrestrictedfundscanbeusedinaccordancewithcharitableobjectivesatthediscretion
of the trustees

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof
thecharity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor
praticularrestrictedpurposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe
financialstatements.

2. Investment Income

`Deposit account interest`	`2021` `2020` `£` `£` `-`

3.TRUSTEES'REMUNERATION ANDBENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021.

Trustees'expenses

Therewerenotrustees'expensespaidfortheyearended31March2020.

Page 6

LONDON CITY KOREAN CHURCH

`LONDON CITY KOREANCHURCH`	`LONDON CITY KOREANCHURCH`	`LONDON CITY KOREANCHURCH`
`Notes to the Financial Statements - continued` `for the Year Ended 31 March 2021` `4. STAFF COSTS` `2021` `£` `Wages and salaries` `31,284` `The average monthly number of employees during the year was as follows:` `2021` `Trustees` `4` `Employee` 2 6 `No employees received emoluments in excess of £60,000.` `5.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `2021` `£` `Other debtors` `-` `6.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `2021` `£` `Accrual` `953` `953` `7. MOVEMENT IN FUNDS` `Net movement` `At 01.04.20` `in funds` `£` `£` `Unrestricted funds` `General fund` `9,397` `36,466` `TOTAL FUNDS` `9,397` `36,466` `Net movement in funds, in the above are as follows:` `Incoming` `resources` `Resources` `expended` `£` `£` `Unrestricted funds` `General fund` `77,450` `(40,984)` `TOTAL FUNDS` `77,450` `(40,984)`			`2020` `£` `23,961`
			`2020` `4` 2
			6

			`2020` `£` `-`
			`2020` `£` `953`
		`953`	`953`
			`At 31.03.21` `£` `45,863`
	`9,397` `36,466`		`45,863`
			`Movement` `in funds` `£` `36,466` `36,466`

Page 7

LONDON CITY KOREAN CHURCH

`Detailed Statement of Financial Activities for the Year Ended 31 March 2021`

`Detailed Statement of Financial Activities` `for the Year Ended 31 March 2021`
`INCOMING RESOURCES` `Voluntary Income` `Donations` `Investment Income` `JRS income` `Total incoming resources` `RESOURCES EXPENDED` `Costs of generating voluntary income` `Insurance` `Postage and Stationary` `Meals` `Travelling` `Projects/Events` `Praise Team` `Other Cost` `Seminars` `Pastor Cost` `Choir Cost` `Legal Cost` `Charitable activities` `Wages` `Governance costs` `Accountancy` `Support costs` `Management` `Rent Payable` `Total resources expended` `Net Income`	`2021` `£` `52,503` `24,947` `77,450` `456` `-` `399` `-` `2,740` `2,681` `1,204` `7,480` `31,284` `1,020` `1,200` `40,984` 36,466	`2019` `£` `60,593` `-`
		`60,593` `459` `-` `2,221` `-` `9,185` `4,083` `600` `-`
		`16,548` `23,961` `426` `16,390`
		`57,325`

		3,268

Page 8