## **HEART FIRE CHURCH** ## **FINANCIAL STATEMENTS FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30** ~~**FOR THE YEAR ENDED 30**~~ **[th] th SEPTEMBER 2019** ~~**SEPEMBER 2020**~~ **CHARITY NUMBER: 1165580** ## **HEART FIRE CHURCH** ## **LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 30[th] September 2020 September 2019** ## **ADDRESS FOR CORRESPONDENCE** 43 Charles Street125 Lower Dock Street Cardiff Newport South Wales NP10 2GB NP20 1EG ## **REGISTERED CHARITY NUMBER** 1165580 ## **GOVERNING DOCUMENT** CIO – FOUNDATION REGISTERED 16 February 2016 AMENDED ON 19 October 2018 ## **TRUSTEES/ DIRECTORS** Ju Yeoung Kim Rev Dr Young Hwan Kim Sandra Crawford Dr Arthur Edward Wall Hyun Cheol Kim ## **PRINCIPAL BANKERS** HSBC, Newport South Wales **INDEPENDENT EXAMINER** FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM SURREY CR4 3FH **1** ## **HEART FIRE CHURCH 43 CHARLES STREET 125 LOWER DOCK STREET CARDIFF NEWPORT SOUTH WALES NP10 2GB NP20 1EG** |**INDEX**

**Legal & Administrative Details**
**Index**
**Trustee’s Report**
**Independent Examiner’s Report**
**Statement of Financial Activities**
**Balance Sheet**
**Notes on the financial Statements**
**Statement of Financial Activities**
**Balance Sheet**
**Notes on the financial Statements**|**Page**
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**3 - 4**
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**7 - 10**| |---|---| **2** ## **HEART FIRE CHURCH CHARITY NUMBER: 1165580 TRUSTEES’ REPORT** The trustees are pleased to present their report for the year ended 30[th] September 2020 September 2019 for the charity, Heart Fire Church with Charity Number 1165580. The Trustees of the charity are: Ju Yeoung Kim Rev Dr Young Hwan Kim Sandra Crawford Dr Arthur Edward Wall Hyun Cheol Kim Hyun Cheol Kim The principal address of the charity is: 43 Charles Street The principal address of the charity is: 125 Lower Dock Street Cardiff Newport South Wales, NP10 2GB South Wales, NP20 1EG ## **OBJECTS** The objects of the Church for the benefit of the public are to advance the Christian faith worldwide in accordance with its statement of beliefs, in Newport and Cardiff faith worldwide in accordance with its statement of beliefs, in Newport and such other or the world as the Church may from time to time think fit and to parts of the UK or the world as the Church may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England Wales and are connected with the charitable work of the Church. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Church is governed by a leadership team on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position. The trustees appointed have served exemplary in providing much needed governance and administrative support and guidance to the charity throughout the year. ## **ACHIEVMENTS AND PERFORMANCE** The church continues to develop itself in the community. The church also continues to hold regular services that are open to the general public. (Covid-19 season through the internet worship hold regular services that are open to the general public. The church held successful service). The church couldn't fully hold successful conferences during the year, but mainly through conferences during the year, and it continues to support the ethos of its church Internet service gathered, and it continues to support the ethos of its church. Through Church through all its activities. leadership's shortly home visiting the needed, welfare were effectively worked to the church members. . **3** ## ## ## ## ## ## **HEART FIRE CHURCH** ## **Statement of Financial Activities for the year ended 30th September 2019Statement of Financial Activities for the year ended 30th September 2020** |||**Unrestricted**|**Total Funds**|**Total Funds**||| |---|---|---|---|---|---|---| |||**Funds**||**2019**
**2020**|**2018**
**2019**|| |**Incoming Resources from**|**Note**|**£**|**£**|**£**||| |**generated funds**||||||| |Donations and Legacies|**2**|23890
21734||23890
21734|18037
23890|| |Investment income|**3**|0||0|0|| |||23890
21734||23890
21734|18037
23890|| |Other Income||0||0|0|| |**Total Incoming**||23890
21734||23890
21734|18037
23890|| |**Resources**||||||| |**Resources Expended**||||||| |**Charitable activities in furtherance of objectives**||||||| |Charitable Activities|**5**|11,866
27679||11,866
11866|16779
11866|| |Other|**4**|280
475||280|240
280|| |**Total Resources**
**Expended**||12,146
28154
(7000)||12,146
12146|17019
12146|| |**Net movement in funds**||**11,744**
**-6420**||11,744
11744|1018
11744|| |**Reconciliation of Funds**||||||| |Total Funds brought forward||2319
14063|2319
14063||1301
2319|| |**Total Funds carried forward**||**14,063**
**7643**||14,063
7643
14,063|2319
14063|| The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above. The notes on the accounts form part of these accounts. > **5 6** ## **HEART FIRE CHURCH Balance Sheet as at 30th September 2019Balance Sheet as at 30th September 2020** |**Note**
**2019**
**Fixed Assets**
**£**
Tangible fixed assets
**5**
2057
_________
2057
_________
**Current Assets**
Cash at bank and
12286
in hand
Debtors & prepayments
0
12286
**Creditors:amounts falling due within one year**
Creditors & accruals
**8**
280
_________
**Net Current Assets**
12006
_________
**Net Assets**
14063
**Unrestricted Funds**
General Fund
14063
_________
**TOTAL FUNDS**
14063
_________
**2020**
7646
475
27679
1543
1543
28154
28154
7646
7646|**2018**
**£**
2559
0
2559
240
2319
2319
2319
2319
**2019**
2057
2057
12286
280
12006
14063
14063
14063
12286| |---|---| Approved by board of Trustees on : And signed on their behalf by (Trustee) Signature:________________________________ **6** **7** ## **HEART FIRE CHURCH** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2019** ## **1) Accounting Policies** ## **1.1 Basis of Accounting** These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014. - 1.2 **Going Concern:** The accounts are prepared on a going concern basis. 1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted. 1.4 No changes to the accounting estimates have occurred in the reporting period 1.5 No material prior year error have been identified in the reporting period. ## _Recognition of Income_ These are included in the Statement of Financial Activities (SOFA) when: - The charity becomes entitled to resources; - It is more likely than not that the trustees will receive the resources; - The monetary value can be measured with sufficient reliability. ## _Grants and Donations_ Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP). ## _Tax reclaim on donations and gifts_ Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. ## **EXPENDITURE AND LIABILITIES** ## _Liability Recognition_ Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. ## _Grants and Support Costs_ Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. > **7 8** ## **HEART FIRE CHURCH** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2019 SEPTEMBER 2020** _Creditors_ The organisation has creditors which are measured at settlement amounts less any trade discounts. ## **ASSETS** _Tangible Fixed Assets for use by the organisation_ They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method. ## _Debtors_ Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash. . > **8 9** ## **HEART FIRE CHURCH** ## **Notes to the accounts for year ended 30th September 2018** ## **2 Voluntary Income** ||Unrestricted|Total funds|Total funds|||||| |---|---|---|---|---|---|---|---|---| ||Funds||2019
2020||2018
2019|||| |Church collections|£|£|£|||||| |Donations|23890
21734
£||23890
21734
£|£|18037
23890|||| Total **23890** 21734 **23890** 21734 8893 23890 **3 Investment income** **----- Start of picture text -----**
Unrestricted Total funds
Funds £ Funds/£ 2019/£ 2020/£ 2018/£ 2019/£
Bank Interest 0 0 0
4 Other Amount 2019/£ Amount 2020/£ 2018/£ 2019/£
Accountancy fees 280 475 240 280
License and Subscriptions 0 0
_________
475 280 24 280 0
5 Tangible Fixed Assets Instrument Instrument Equipment Total 2020 Equipment Total 2019
Cost £ £ £ £ £ £
At 01/10/2018 0 0 0
Additions 1271 1300 2571
At 30/09/2019 At 30/09/2020 1271 1300 2571
Depreciation
At 01/09/2018 0 0 0
charge for the year 254 508 260 520 514 1028
At 30/09/2019 At 30/09/2020 254 508 260 520 514 1028
Net Book Value at 30/09/2019Net Book Value at 30/09/2020 763 1017 1040780 20571543
Net Book Value at 01/10/2018 0 0 0
**----- End of picture text -----**
> **9 10** ## **HEART FIRE CHURCH Notes to the accounts for year ended 30th September 2019Notes to the accounts for year ended 30th September 2020** ## **6 Cost of Activities in furtherance of Charitable Objectives** **----- Start of picture text -----**
2019/£ 2020/£ 2018/£ 2019/£
Pastors Salary 8240 0 10758 0
Premises costs Premises costs 4936 1632 2850 4936
Resources 109 146 106 109
Youth events 278 0 246 0
Speakers expenses Office worker's salary 2783 0 300 0
Hospitality 457 159 132 457
Telephone & Stationery 291 0 291 24
Publicity & Advertising Previous saving transfer* 7000 0 0 702 0
Travelling & Motor expenses 62 25 440 62
Sundry 17 0 103 17
Website costs 112 122 108 112
Pension 207 0 127 0
PAYE 1147 0 353 0
Insurance 346 692 346 0
Welfare 997 3257 997 0
Training 600 0 600 0
Rates 166 0 166 0
Depreciation 514 1028 514 0
Professional fees 2556 2160 2556 0
Light & Heat 452 106 452 0
Donations Donations 5697 251 530 251
Total 11866 27679 16779 11866
**----- End of picture text -----**
* This is the saving account transfer was missed out on the record of 2019 report. ## **Staff** The organisation had 1 employee. All work was undertaken by volunteers. The organisation had 2 employees. ## **9 Creditors: amounts falling due within one year** |Creditors
Total|£
£
**2019**
**2018**
280
240
**2019**
280
**2020**
475| |---|---| ||280
240
280
475| **10** **11**