Charity Registered Number: 1162663
WISDOM (ZHIHUI) FOUNDATION
Financial statements For the year ended 31 August 2021
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CONTENTS
Page Administrative information 3 Independent examiner’s report 4 Income and expenditure account 5 Balance sheet 6 Notes to the financial statements 7
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Wisdom (Zhihui) Foundation
Administrative Information
As at 31 August 2021
Registered Charity Number 1162663 Chairman: Catherine Nicholls Trustees: Betty HW Yeung Jian Gong Ciayi Lim Anastasia Petrova Zhongxin Han Registered Address: 13 Ensign Way Stanewell Staines-upon-Thames TW19 7RE Bankers: Lloyds TSB HSBC Accountants: Mona Han Business Services Ltd t/a Tax Return Accountants 26 Spinning Wheelway Hackbridge Wallington Surrey SM6 7DS
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INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF WISDOM (ZHIHUI) FOUNDATION
FOR THE YEAR ENDED 31 AUGUST 2021
We report on the accounts of the charity, set out on pages three to seven.
Respective responsibilities of the trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the act) and that an independent examination is required.
It is our responsibility to:
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Examine the accounts (under section 43(3)(a) of the 1993 Act);
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Follow the procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act; and
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State whether particular matters have come to our attention
Basis of independent examiner’s report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the 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 undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention,
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Which gives us reasonable cause to believe that in any material respect the requirements:
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To keep accounting records in accordance with section 41 of the 1993 Act, and
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To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Acts have not been met, or
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To which in our opinion, attention should be drawn in order to enable an understanding of the accounts to be reached.
Mona Han
Mona Han Business Services Ltd t/a Tax Return Accountants
Chartered Certified Accountants
Date: 22/06/2022
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Wisdom (Zhihui) Foundation
Income and expenditure account for the year ended 31 August 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME | ||||
| Donations and Fundraising | 2,229 | 1,549 | ||
| Workshop, activities & Other Incomes | - | 168 | ||
| School Fees | 235 | 5,294 | ||
| Canteen Takings | - | 85 | ||
| Total Income | 2,464 | 7,096 | ||
| DIRECT CHARITABLE EXPENDITURE | ||||
| Activities Costs | 165 | 1,150 | ||
| Teaching Contractors & Volunteers | - | 1,507 | ||
| Hire of Rooms , Hall & rent | - | 1,164 | ||
| Teaching Material & Prizes | 96 | - | ||
| Donation | - | 30 | ||
| 261 | 3,851 | |||
| ADMINISTRATIVE EXPENDITURE | ||||
| Marketing & Advertising | - | 100 | ||
| Website | - | 150 | ||
| Printing Stationery and Postage | - | 68 | ||
| Telephone | 144 | 144 | ||
| Travelling cost | - | 80 | ||
| Accountancy | - | 450 | ||
| Insurance | 491 | 759 | ||
| Depreciation | 5 | 6 | ||
| 640 | 1,757 | |||
| Total expenditure | 901 | 5,608 | ||
| Surplus/(Deficit) transferred to accumulated | fund | 1,563 | 1,488 |
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Wisdom (Zhihui) Foundation
Balance Sheet
As at 31 August 2021
| Note | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Office Equipment | 2 | 15 | 19 | |||
| CURRENT ASSETS | ||||||
| Prepayment | 300 | 300 | ||||
| Bank Account | 11,273 | 9,705 | ||||
| Cash in Hand | 67 | 67 | ||||
| 11,640 | 10,073 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors and Accruals | 3 | -- | -- | |||
| NET ASSETS/LIABILITES | 11,655 | 10,092 | ||||
| Represented by | ||||||
| FUNDS EMPLOYED | ||||||
| Total Funds | 4 | 11,655 | 10,092 |
Approved by the board of trustees on 26/06/2022 and signed on its behalf.
Chairman
Catherine Nicholls
The annexed notes form part of these financial statements.
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Wisdom (Zhihui) Foundation
Notes to the financial statements for the year ended 31 August 2021
1. ACCOUNTING POLICITES
The financial statements have been prepared under historical cost convention and are in accordance with applicable accounting standards.
2. TANGIBLE FIXED ASSETS
| ANGIBLE FIXED ASSETS | ||
|---|---|---|
| Equipment £ | ||
| Cost | ||
| 1 September 2020 | 1,114 | |
| Additions | ||
| 31 August 2021 | 1,114 | |
| DEPRECIATION | ||
| 1 September 2020 | 1,094 | |
| Charge for the year | 5 | |
| 31 August 2021 | 1,099 | |
| NET BOOK VALUE | ||
| 31 August 2020 | 20 | |
| 31 August 2021 | 15 | |
| REDITORS | ||
| 2021 £ | 2020 £ | |
| Accountancy fee | -- | -- |
| UNDS EMPLOYED | ||
| 2021 £ | 2020 £ | |
| Accumulated fund as at 1 September 20 | 10,092 | 9,604 |
| Surplus /(Deficit) transferred to accumulated fund | 1,563 | 1,488 |
| Loan repayment | (1,000) | |
| Accumulated fund as at 31 August 21 | 11,655 | 10,092 |
| Total funds | 11,655 | 10,092 |
3. CREDITORS
4. FUNDS EMPLOYED
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