Annual Report and Financial Statements for the Year Ended 31 December 2024 IIIMIII(NIPIIIIIIII* Ibtternational China CoKern International China Concern Charity registration number.. 1164736
INTERNATIONAL CHINA CONCERN CONTENTS Reference and Administrative Details Trustees, Report 2to5 Independent Auditors. Report 6t09 Statement of Financial Attivities io Balance Sheet li Cash Flow Statement 12 Notes to the Financial Statements 13to22
INTERNATIONAL CHINA CONCERN REFERENCE AND ADMINISTRATIVE DETAILS Trustees Simon Gates Juan Long Robert Molloy Katharine Simpson Simon Upcott (resigned 18 May 2024) Hannah Lamont Yanping Ye Charity Registration Number 1164736 Principal Office The Castle Gate Melbourne Street Newcastle upon Tyne NEI 2JQ Auditor Knight Goodhead Ltd Chartered Accountants 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA Bankers Barclays Bank PIC Leicester LE87 2BB Page I
INTERNATIONAL CHINA CONCERN TRUSTEES. REPORT The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024. Objectives and artivities Objects and alms ICC UK functions to raise awareness, funds, and resources for the work of Internatlonal China Concern {Childcare) Ltd {ICC International) In China by stewarding and communicating with our growing UK donor base. Fundraising activities include regular giving, special appeals and campaigns, bequests and events. ICC UK makes regular donations to ICC International to support the intemational operations in China. The Trustees re-affirmed support should be direrted to the work of ICC Intemational. ICC International is a Christian development organisation that creates full lives for China's vulnerable children by bringing them love, hope and opportunity through: Innovating projetts that provide holistic care and support services to China's vulnerable children and reduce the likelihood of abandonment in China Providing training services that address the needs of China's developing sooal welfare system in the areas of management, support and disability services Advocating on behalf of China's vulnerable childn to all sectors of government and society Empowering Chinese leaders and their communities to respond to the needs of China's abandoned and disabled Publlc beneflt The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achlevements and performance Review of artivities In 2024, ICC UK welcomed no new Trustees to the board. Simon Upcott resigned in May. The board worked well together throughout the year. All trustees took an artive part in the life of ICC UK and the board continued to be involved in the development of the National Office. The board continued to be involved with delivering the UK strategy document. It supported the development of the charity in acquiring new donors through a planned global campaign. At each meeting an update from China was considered and zoom calls with key international staff including the founder David Gotts enabled the trustees to question and discuss the work in China. Dave Gotts also presented the new Culture, Values and Behaviours statement which were developed at the Global Summit. in Canada and attended by Simon Gates. Page 2
INTERNATIONAL CHINA CONCERN TRUSTEES. REPORT (CONTINUED) The board met via Zoom on two occasions and face to face twice. All meetings were minuted. The trustees continued to have ir)dividual responsibilities for different areas on the board including finance and human resources. Throughout 2024, the board worked very closely with the National Office Director, who has continued to ensure the smooth running and development of the UK office. In September the NOD gave notice that she would be leaving her post the following June and the trustees reviewed the aims and goals of the charity and the role of the NOD In preparation for the recnjitment process which began in December. One of the key matters discussed throughout the year was both the charity's safeguarding policy and how we could Influen the International Organisation to improve on its accountability for safeguarding and reporting such. Trustees joined a working party and made considerable progress to be consolidated fully in 2025. All trustees upgraded their own training with Thirtyone: Eight. In addition trustees reviewed and discussed the 6 Main Duties of a board of trustees from the Charity Commission. Our staff team continued ongoing training with Moceanic to great effert and increased their knowledge, skill and confidence in delivering 1st dass campaigns and improving our retentlon of donors. Despite the economic and operational challenges faced in 2024, we ended the year with an encouraging grant total of £229,865. Financial review Income for the year amounted to £1,728,427 {2023: £475,405) which includes a legacy of £ 1,300,000. Expenditure amounted to £430,250 12023: £485,520). General funds of £1,390,320 and restritted funds of £5,485 are carried forward. Golng concern The trustees Consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees retain from part of restricted and unrestricted income an appropriate amount to cover their njnning expenses, which is consistently applied and regularly reviewed. Policy on reserves The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs, taking into account the charity's size and level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily. Page 3
INTERNATIONAL CHINA CONCERN TRUSTEES. REPORT (CONTINUED) Structurey governance and management Nature of governing document International China Concern is a registered Charitable Incorporated Organisation, number 1164736, and was originally set up in 2015 as the intended successor to the ICC UK'S activities and assets previously undertaken by International China Concern UK trust, charitable entity registered with the Charity Commission ("the Trust", reference number 10693491. Recrultment and appolntment of trustees The managernent of the charity is the responsibility of the trustees who are eletted by the board of trustees. Oryanisational structure The trustees conduct quarterly board meetings in person or via Zoom. Day-to-day running of ICC UK'S artivities 15 delegated to its staff team, under the direction of the ICC UK National Director. The Trustees regularly review their performance against agreed targets and objectives. Related party relatlonshlps ICC UK works intrinsically with other worldwide offices which share the same name and charitable objetts, and funds are sent to ICC International to be forwarded to its projects in China. Rlsk management The trustees regularly assess the major rlsks to which the charity is exposed, and are sat15fied that system5 and procedures are in place to mitigate those risks. Page 4
INTERNATIONAL CHINA CONCERN TRUSTEES. REPORT (CONTINUED) Statement of Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prartice) and applicable law and regulations. The law applicable to charities requires the tmstees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select Sultable accounting policies and then apply them consistently; observe the method5 and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the trustees of the charity on Nd*P.rIQ2fj. and slgned on Its behalf by: Katharine Simpson Katharine Simpson Trustee Page 5
INTERNATIONAL CHINA CONCERN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTERNATIONAL CHINA CONCERN Opinion We have audited the financial statements of International China Concern (the 'charity') for the year ended 31 December 2024, which comprise the Statement of Financial Artivities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Att 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS IUKI l and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustee5 use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any rnaterial uncertainties relating to events or conditions that, individually or collectivelyi may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant settions of this pOrt. Page 6
INTERNATIONAL CHINA CONCERN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTERNATIONAL CHINA CONCERN (CONTINUED) other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our uditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information, If, based on the work we have performed, we conclude that there is a material misstatement of this Other information, we are required to report that fact. We have nothing to report in this regard. Other Matters We draw attention to the fact that the financial statements for the year ended 31 December 2023, which are presented as comparative information, were not audited. Accordingly, we do not express an opinion on the comparative financial information. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charity and its environment obtained in the Course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where the Charltles (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audlt have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Page 7
INTERNATIONAL CHINA CONCERN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTERNATIONAL CHINA CONCERN (CONTINUED) Responsibilities of trustees As explained more fully in the Statement of Responsibilities (set out on page 51, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessbng the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. Auditor Responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condutted in accordance with ISAS l UK) will always detett a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. A further description of our responsibilities Is available on the Financial Reporting Council's webslte at: www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAS IUKI, we exerclse professlonal Judgement and maintain professional scepticism throughout the audit. We also.. Identlfy and assess the risks of material misstatement of the flnancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery* intentional omissions, misrepresentations. or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estirnates and related disclosures made by the trustees. Page 8
INTERNATIONAL CHINA CONCERN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INTERNATIONAL CHINA CONCERN (CONTINUED) Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based orb the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures In the financial statements or, if such disclosures a inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue s a going concern. Evaluate the overall presentation, strurture and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial inforrnation of the entities or business activities within the charity to express an opinion on the financial staternents. We are responsible for the dirertion, supervision and performance of the charity audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. Use of our report This report is rnade solely to the charity trustees, as a body¢ in accordance with sertion 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustees those matters we are requlred to state to trustees in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. Christopher Goodhead Christopher Goodhead Bsc FCA (Senior Statutory Auditor) For and on behalf of Knight Goodhead Ltd, Statutory Auditor 7 Bournemouth Road Chandler's Ford Eastleigh Hampshire S053 3DA Date.. 2911012025 Page 9
INTERNATIONAL CHINA CONCERN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Investment income 1.490.789 235.495 1,726,284 474,650 755 Total income 1492 932 235 495 1 728 427 475 405 Expenditure on: Charitable activities 200 385 229 865 430 250 485 520 Total expenditure 200 385 229 865 430 250 485 520 Net income/lexpenditurel before transfers 1 292 547 1 298 177 Transfers between funds 145 (145) Net movement in funds 1,292.692 5,485 1,298,177 {10,115) Reconclllatlon of funds Total funds brought forward 107,743 Total funds carried forward li 1 390 320 1 395 805 The notes on pages 13 to 21 form an integral part of these financial statements. Page 10
INTERNATIONAL CHINA CONCERN BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 572,498 856 567 1.429,065 2,580 130 876 133,456 Creditors: Amounts falling due within one year 9 Net assets 1 395 805 Funds of the charity: Unrestricted income funds Restricted funds Unrestricted funds 1,390,320 97,628 Total funds li 1 395 805 The financial statements on page5 10 to 22 were approved by the trustees, and authorised for issue on ll,(1sWii1911....... and signed on their behalf by.. Katharine Simpson Trustee Type text here The notes on pages 13 to 22 form an integral part of these financial statements. Page 11
INTERNATIONAL CHINA CONCERN CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operating activities Net income/(expenditure) 1.298,177 (10,1151 Adjustments to cash flows from non-cash items Investment income 755 (10,8701 1,296,034 Working capital adjustments Ilncreaselldecrease In debtors Decrease in creditors (569,918) 8,136 Net cash flows from operating attivities 723,548 (40,9891 Cash flows from investing activities Interest receivable and similar income 755 Net Increase/{decrease) In cash and cash equlvalents 725,691 (40,2341 Cash and cash equivalents at l January 130 876 171,110 Cash and cash equivalents at 31 December 856,567 130 876 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 13 to 22 form an integral part of these financial statements. Page 12
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l Accounting policies statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Prartice issued in Ortober 2019, the Financial Reporting Standard applicable in the United Kingdom an(J Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation International Chino Concern meets the definition of a public benefit entity under FRS 102. The accounts {financial statements) have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated in the relevant note{sl to these accounts. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary Income Including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donatlons and legacles Donations and legacies are recognised on a recelvable basis when receipt is probable and the amount can be reliably measured. Glft ald Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tirne of the donation. Interest recelvable Lnterest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposlted. Expenditure All expenditure is recognised once there is a legal or construttive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Page 13
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) Charitable artivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its ttivities and services for its beneficiaries. It indudes both costs that can be allocated direttly to such attivities and those costs of an indirert nature nesSary to support them. Grant provisions Provisions for grants are made v4hen the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation In respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Settion 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tanglble flxed assets Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Debtors Trade and other debtors are recognlsed at the settlement amount after any trade dlscount offered. Prepayments are valved at the arnount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalent5 comprise cash on hand and call deposits, aTrd other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Liabilities Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it Is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 14
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service. the excess is recognised as a prepayment. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted funds are maintained where the donor has specified a purpose for the donation made. These restrictions often anse as a result of the regular appeals for special offerings. 2 Income from donations and legacies Unrestrlrted funds General Restrlcted funds Total 2024 Total 2023 Donatlons and legacles; Donations Legacies Gift aid reclaimed 180.871 1,300,000 9,918 1 490 789 220.784 401,655 1,300,000 24,629 1 726 284 438,519 235 495 474 650 3 Investment income Unrestricted funds General Restricted funds Total 2024 Total 2023 Interest receivable and similar income; Interest receivable on bank deposits 755 Page 15
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 4 Expenditure on charitable artivities Unrestrirted funds General Restricted funds Total 2024 Totsl 2023 Note Activities and events Advertising and marketing Hengyang therapy equipment Rent and rates Licences and subscriptions Printing, postage and stationery Recruitment costs Telephone Training and development Travel and subsisten Insurance Legal and professional fees Sundry expenses Banking charges and fees Trustees expenses Foreign currency (gains)Ilosses Independent examination External contrattors 46 4,209 46 4,209 9,536 65 7,206 2,633 10,635 1,389 710 8,147 2,390 7.716 3,190 7.258 866 727 791 7,521 1,286 23.030 2,535 7.566 715 187 7,716 3,190 7,258 866 727 791 7,521 1,286 23,030 2,535 7,566 715 187 31,036 505 5,793 2,028 40 1,140 862 Grants Audit fee Staff costs ICC International 229,865 229,865 6,450 126 292 229 865 430 250 297,648 6,450 126 292 200 385 103 757 485 520 Page 16
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 5 Governance costs Unrestricted funds General Total 2024 Total 2023 Audit of the financial statements Independent examination Tru5tees' expenses 6.450 6,450 1,140 715 715 6 Trustees remuneration and expenses No trustees, nor any persons connetted with them, have received any remuneration from the charity during the year. During the year, E872 was paid to provide safeguarding courses to 7 trustees (2023.. £Nill. During the year. 2 trustees were reimbursed travel expenses for a total of £389 12023.. £7171. Page 17
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 7 Staff costs The aggregate payroll costs were as follows- 2024 2023 staff costs during the year were: Wages and salaries Social security costs Pension costs 116,677 5,644 96,709 3,663 126 292 103 757 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 2023 No No Employees No employee recebved emoluments of more than É60,000 during the year. During the year, one member of key management personnel received remuneration, inclu(Jing pension contributions, of É43,648 (2023.. £39,286). 8 Debtors 2024 2023 other debtors Accrued income 8,321 2,066 514 572 498 Page 18
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 9 Creditors: amounts falling due within one year 2024 2023 other taxation and social security Other creditors Accruals 194 1,084 2,143 639 10 Penslon and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,971 {2023 - £3,385). Contributions totalling £1.084 {2023 - £639) were payable to the scheme at the end of the year and are included in creditors. Page 19
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 11 Funds Balance at 31 December 2024 Balance at I Incoming Resources January 2024 resources expended Transfers Unrestricted funds General General Funds 87,499 1.487.232 (200,385) 145 1,374,491 Designated Development fund Total unrestrirted funds 1492 932 200 385 145 1 390 320 Restricted funds Changsha Child Support Hengyang Child Support FPP Support Vancouver Costs 169.345 (163.8601 5,485 559 32,091 (5591 (32,091} {1451 {1451 235 495 1 728 427 229 865 430 250 Total funds 1 395 805 Hengyang Chlld Support - providing residential care for children and young adults In Hengyang by ICC International. Changsha Child Support - providing residential care for children and young adults in Changsha by ICC International. FPP Support - Family Partners Programme in China, providing family support services to many families raising children with disabilities, ran by ICC International. Vancouver Costs - Donations received to cover costs relating to the 2024 conference held in Vancouver by ICC Intemational. Development Fund - Funds designated for the development of the UK office. Page 20
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 11 Funds (continued) Balance at 31 December 2023 Balance at I Incoming January 2023 resources Resources expended Unrestricted funds General General Funds 97,614 304.597 (314.712) 87,499 Designated Development fund 10,129 Total unrestricted funds 107 743 314 712 Restricted funds Changsha Child Support Hengyang Child Support FPP Support 80,266 38,481 (80,266) 138,481) (52,061 170 808 170 808 Total funds 107 743 475 405 485 520 12 Analysls of net assets between funds Total funds at 31 December 2024 Unrestrirted funds General Designated Restrirted funds Restricted Current assets Current liabilities 1,407,751 15,829 5,485 1,429,065 Total net assets 1 374 491 1 395 805 Totsl funds at 31 December 2023 Unrestrlcted funds General Designated Restrlcted lunds Restricted Current assets Current liabilities 123,327 10,129 133,456 Total net assets Page 21
INTERNATIONAL CHINA CONCERN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) 13 Financial Commitments At the balance sheet date, the charity had commitments for future lease payments totalling £14,427 (2023: £14,466}. £8.630 was due within l year {2023.' £8.1001 and £5,797 was due between l and 5 years (2023: £6,366). 14 Comparatlve Statement of Flnanclal Actlvlties for the year ended 31 December 2023 Unrestricted Restricted funds funds Total 2023 Donations and legacies Investment income 303,842 755 170,808 476,650 755 Total income 170 808 475 405 Charitable activities Total expenditure 314 712 170 808 485 520 314 712 170 808 485 520 Net expenditure (10,115) {10,115) Net movement in funds (10.1151 {10,115) Total funds brought forward 107 743 107,743 Total funds carried forward Page 22