REGISTERED CHARITY NUMBER: 1159284
Report of the Trustees and Unaudited Financial Statements for The Year Ended 31 March 2025 for LONDON CITY KOREAN CHURCH
MCAR LONDON
CHARTERED ACCOUNTANTS
69 Station Road, Hampton, Greater London TW12 2BT
LONDON CITY KOREAN CHURCH
Contents of the Financial Statements for the Year Ended 31 March 2025
| 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 the Year Ended 31 March 2025
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance wth the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number
1159284
Principal address
St. Cyprians Church, Glentworth Street, London NW1 6AX
Trustees
Mr In Chang KIM Mr Jung Hwan YANG Mr Jong Man KIM Mr Suhan JEON
Independent examiner
MCAR LONDON Chartered Accountants 69 Station Road Hampton TW12 2BT
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated Charity.
Organisational structure
It is run entirely by volunteers who all believe God and follow Jesus in their life the Christian religion. Since London City Korean Church is created and presented for religious activities 4 Trustees and around 22 volunteers & 75 members are involved into those activities. Key Partners - IPC (International Presbyterian Church) and IPC KP (International Presbyterian St Cyprian's Church).
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
LONDON CITY KOREAN CHURCH
Report of the Trustees
for the Year Ended 31 March 2025
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of London City Korean Church are as follows ; It aims to spread the knowledge of the Bible to the people. It also aims to encourage people to enjoy a life and a wonderful life with lots of different types of culture.
Activities
Church.
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 - to help people to develop well communication with other people
ACHEIVEMENT AND PERFORMANCE
Charitable activities
Since London City Korean Church is created, we give services of worship every Wednesday and Sunday and at least once a month we have a second worship on Sunday. We try to help by teaching and making them to be Christian as it truly changes their life in a better way. Therefore we provide:
-
human resources for worship
-
building/facilities/open space to people of particular ethnic or racial origin,
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service of worship to public
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advocate/advice/give information to people who need help
-
act as an umbrella or resource body
We do believe this will make this world better and people will respect each other.
Approved by order of the board of trustees on 12 January 2026 and signed on its behalf by:
……………………………………………………….
Trustee Mr Suhan JEON
Page 2
Independent Examiner's Report to the Trustees of LONDON CITY KOREAN CHURCH
I report on the accounts for the year ended 31 March 2025 set out on pages four to eight.
Respective responsibilities of trustees and examiner
The charities trustees are responsible for the preparation of accounts. The charities trustees consider if an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedure laid down in the General Directions given by the Charity
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to state whether particular matters have to come to my attention
Basis of independent examiners report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures under taken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ' true and fair view ' and the report is limited to those matters set out to the statements below.
Independent examiners statement
In connection with my examination, no matter has come to my attention:
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(1) which gives the reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the 2011 Act; and
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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
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(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
MCAR LONDON Chartered Accountants 69 Station Road Hampton TW12 2BT
12-Jan-26
Page 3
LONDON CITY KOREAN CHURCH
Statement of Financial Activities for the Year Ended 31 March 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| fund | fund | ||
| £ | £ | ||
| Notes | |||
| INCOMING RESOURCES | 2025 | 2024 | |
| Incoming resources from generated funds | |||
| Voluntary income | 51,039 | 68,935 | |
| Government grant | 23,973 | - | |
| Investment income | 1,561 | 787 | |
| Total incoming resources | 76,573 | 69,722 | |
| RESOURCES EXPENDED | |||
| Costs of generating funds | |||
| Costs of generating voluntary income | 30,314 | 24,438 | |
| Charitable activities | |||
| Costs of generating voluntary income | 35,661 | 37,596 | |
| Governance costs | 1,250 | 1,440 | |
| Total resources expended | 67,225 | 63,474 | |
| NET INCOMING RESOURCES | 9,348 | 6,248 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 54,082 | 47,834 | |
| Reconciliation | - | - | |
| TOTAL FUNDS CARRIED FORWARD | 63,430 | 54,082 |
Page 4
LONDON CITY KOREAN CHURCH
Balance Sheet As at 31 March 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| fund | fund | ||
| £ | £ | ||
| Notes | 2025 | 2024 | |
| FIXED ASSETS | |||
| Computers & equipments | - | - | |
| CURRENT ASSETS | |||
| Debtors | 5 | 600 | 600 |
| Cash at bank | 63,830 | 53,982 | |
| CREDITORS | 64,430 | 54,582 | |
| Amount falling due within one year | 6 | 1,000 | 500 |
| NET CURRENT ASSETS | 63,430 | 54,082 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 63,430 | 54,082 | |
| NET ASSETS | 63,430 | 54,082 | |
| FUNDS | |||
| Restricted funds | 1,660 | 1,060 | |
| Unrestricted funds | 7 | 61,770 | 53,022 |
| TOTAL FUNDS | 63,430 | 54,082 |
The financial statements were approved by the Board of Trustees on 12 January 2026 and were signed on its behalf by:
………………………………………………………… Trustee Mr Suhan JEON
Page 5
Notes to the Financial Statements for the Year Ended 31 March 2025
LONDON CITY KOREAN CHURCH
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Incoming resources
All incoming resources are included on Statement of Financial Activities when the charity is legally entitled to the income and amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with charitable objectives at the discretion of the trustees
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for praticular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Investment Income
| Deposit account interest | 2025 £ 1,561 |
2024 £ 787 |
|---|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 .
Page 6
LONDON CITY KOREAN CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
| 4. STAFF COSTS 2025 £ Wages and salaries 23,661 The average monthly number of employees during the year was as follows: 2025 Trustees 4 Payrolled Employees 2 Volunteers 22 Members 75 103 No employees received emoluments in excess of £60,000. 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Other debtors 600 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Accrual 1,000 7. MOVEMENT IN FUNDS Net movement At 31.03.24 in funds £ £ Unrestricted funds General fund 54,082 9,348 TOTAL FUNDS 54,082 9,348 Net movement in funds, in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 76,573 (67,225) TOTAL FUNDS 76,573 (67,225) |
2024 £ 26,346 2024 4 2 15 55 76 2024 £ 600 2024 £ 500 At 31.03.25 £ 63,430 63,430 Movement in funds £ 9,348 9,348 |
|---|---|
Page 7
LONDON CITY KOREAN CHURCH
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| INCOMING RESOURCES Voluntary Income Donations Government Grant Gift Aid Investment Income Investment Income Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Insurance Postage and Stationery Semina Food Donations Travel Projects/Events Missionary Work Support Service Exp Seminars Pastor Cost Membership Other Cost Charitable activities Wages Governance costs Accountancy Support costs Management Rent Payable Total resources expended Net Income |
2025 £ 51,039 23,973 1,561 76,573 451 2,576 6,293 - 3,122 10,283 2,658 - - 4,431 500 - 30,314 23,661 1,250 12,000 67,225 9,348 |
2024 £ 68,935 - 787 69,722 451 735 5,936 - 3,083 8,333 1,800 - - 3,600 500 - 24,438 26,346 1,440 11,250 63,474 6,248 |
|---|---|---|
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