## `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 ``` ``` 1159284 ``` ``` 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
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``` 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
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``` 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`|`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 ```