## **HEART FIRE CHURCH** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30[th ]** ## **SEPTEMBER 2025** **CHARITY NUMBER: 1165580** ## **HEART FIRE CHURCH** ## **LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 30[th ] September 2025** ## **ADDRESS FOR CORRESPONDENCE** 43 Charles Street, Cardiff South Wales CF10 2GB ## **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 ## **PRINCIPAL BANKERS** HSBC, Newport South Wales **HEART FIRE CHURCH 43Charles Street Cardiff Glamorgan CF10 2GB** **INDEX Page Legal & Administrative Details 1 Index 2 Trustee’s Report 3 - 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 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 2025 for the charity, Heart Fire Church with Charity Number 1165580. The Trustees of the charity are: Mrs Ju Yeoung Kim Rev Dr Young Hwan Kim Mrs Sandra Crawford Dr Arthur Edward Wall The principal address of the charity is: 43 Charles Street, Cardiff, Glamorgan, CF10 2GB ## **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 Cardiff, Newport and such other parts of the UK or the world as the Church may from time to time think fit and to fulfill 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. ## **ACHIEVEMENTS 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. The church held successful conferences during the year, and it continues to support the ethos of its church through all its activities. **3** FINfyNCIAL REVIEW The incom¢ of the Church is below £32000. This is a lower amount than on the previous year but the costs have been well managed over this peTiod. So the church hopes to continue its work in the coming y¢ar without any unn¢¢¢ssary financiat constraints. The church used n]ost of its income on the Yent of th¢ building and wages for the employee and donations, hospitality and welfare. PLANS FOR THE FtrruRE The church intends to continue to host its r¢gular services and sp¢¢ial events in Cardiff. The intended re-appoinknent of our present independent examiner at the up¢oming tll￿tee meeting is expected to support the financial operations by making It more effective. RESERVE POLICY It is the policy of the Church to maintain unrestricted funds. which are the reserves of the chatity at about 3 months of unrestrtcted expenditure. Similar amounts of income and outcome was provided so need to save mor¢ for the emergency expenditures that may arlse from lime to tin]e. IUSK MANAGEMENr The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity. and ar¢ satisfied that systems are in place to mitigafr exposure to major risks. TRUSTEE RESPONSIBILITIES Und¢r the Chariti¢s Act 2011, th¢ trustees are required to prepare a statement of accounts for each accounting year which gives a t￿e and fair view of the state of the Church. They are required to.. l. Select suitable accounting policies and apply them consistently. 2. Make judgem¢nts and estimates that are reasonable and PTudent. 3. State whether the applicable accounting stsndards have been followed. 4. Prepare financial statements on an ongoing basis. They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to lake re&8onable steps to detect fraud or other irr¢gularities. Approved by the T es on 22nd July 2025 and signed on their behalf by.. ## **HEART FIRE CHURCH** ## **Statement of Financial Activities for the year ended 30th September 2021** **Unrestricted Total Funds Funds 2025 2024 Incoming Resources from Note £ £ £ generated funds** Donations and Legacies **2 31969 31969 56013** Investment income **3** 0 0 0 31969 31969 56013 Other Income 0 0 0 **Total Incoming 31969 31969 56013 Resources Resources Expended Charitable activities in furtherance of objectives** Charitable Activities **5 30929 30929 55056** Other **4 0 0 0 Total Resources 30929 30929 55056 Expended Net movement in funds 1040 1040 957 Reconciliation of Funds** Total Funds brought forward 1421 1421 464 **Total Funds carried forward 2461 2461 1421** 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** HEART FIRE CHURCH Balance Sheet as at 30th September 2025 2025 2024 Flxod Assets Tangible fixed assets Current Assets Cash al bank and in hand Debtors & pr&payments 30929 55056 30929 Creditors:amounts falllng due within one year 55056 CreditOTS & accruals Net Current Assets 30929 55056 Net Assets 2461 1421 Unrestricted Funds General Fund TOTAL FUNDS 1421 2461 1421 Approved by board of Trustees on . And, signed on their behalf by ITrusl8el Signature.. ## **HEART FIRE CHURCH** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH ] SEPTEMBER 2025** ## **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 has 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 errors 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** ## **HEART FIRE CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH ] SEPTEMBER 2025** _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 ## **HEART FIRE CHURCH** ## **Notes to the accounts for year ended 30th September 2025** ## **2 Voluntary Income** Unrestricted Total funds Funds 2025 2024 Church collections £ 5969 £ 5696 £9845 Donations 26000 26000 46168 Total 31969 31969 56013 **3 Investment income** Unrestricted Total funds Funds £ 2025/£ 2024/£ Bank Interest **0 0** 0 **4 Other** Amount 2025/£ 2024/£ Accountancy fees 0 0 License and Subscriptions 0 0 0 0 **5 Tangible Fixed Assets** Instrument Equipment Total 2021 **Cost £ 2025 £ 2024 £ 2021 0 0 0** At 01/10/2021 Additions 0 0 1271 At 30/09/2025 0 0 1271 **Depreciation** At 01/09/2021 0 0 0 charge for the year 0 0 1271 At 30/09/2025 0 0 1271 **Net Book Value at 30/09/2025 0 0 0** **9** ## **HEART FIRE CHURCH Notes to the accounts for year ended 30th September 2025** **6 Cost of Activities in furtherance of Charitable Objectives** 2025/£ 2024/£ Pastors Salary 10560 12480 Premises costs 3444 3301 Resources 1147 121 Youth events 749 141 Office worker salary 8448 9984 Hospitality 1019 39 Telephone & Stationery 306 0 Publicity & Advertising 0 9 Previous saving transfer 0 17000 Travelling & Motor expenses 452 110 sundry 8 12 Website costs 461 0 Pension 1386 1470 PAYE 0 295 Welfare 999 141 Training 88 65 Rates 52 66 Speakers expenses 147 0 Donations 1663 9821 Total 30929 55056 ## **Staff** The organization had 2 employees. ## **9 Creditors: amounts falling due within one year** £ £ **2025 2024** Creditors 0 0 Total 0 0 **10**