Registered number 10155669
BEAUTIFUL CHURCH LONDON
Trustees' Report and Unaudited Financial Statements
30 April 2022
BEAUTIFUL CHURCH LONDON Report and accounts Contents
| Page | |
|---|---|
| Trustee's Report | 1 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
BEAUTIFUL CHURCH LONDON Registered number: 10155669 TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 30 April 2022
The Trustees, who are also the directors of the company for the purposes of company law, present their report and accounts for the year ended 30 April 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Name: BEAUTIFUL CHURCH LONDON Company No.: 10155669 Charity Number: 1171759 Website: http://www.bkclondon.com/ Unit 2, 5 &6, Second Floor, 39-41 High Street, New Malden, Surrey, Registered Address: KT3 4BY
Trustees: Sung Jin KIM Wang Woo LEE Ji Sook LEE
1 Churchill Place, London, E14 5HP, Banker: Barcalys Bank PLC United Kingdom Unit 2, 5 & 6, Second Floor, 39-41 High Kye S Yin (FCCA, AAIA, Independent Examiner: Street, New Malden, Surrey, KT3 4BY MAAT)
STRUTURE, GOVERNANCE & MANAGEMENT
Governing Document
BEAUTIFUL CHURCH LONDON is a charitable company limited by guarantee, which was incorporated on and governed by its Articles of Association dated, 29th April 2016, as defined by the Companies Act 2006.
Risk Management
The trustees have a duty to regularly 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. The trustees do no consider that there are any substantial risks beyond the liabilities disclosed in the financial statements.
OBJECTIVES AND ACTIVITIES
Objects
The advancement of the Christian religion for the benefit of the public through the holding of prayer meetings, lectures, public worship, Christian outreach and producing and/or distributing literature on Christianity to enlighten others about God and the Christian religion.
Activities
Activities during the year included:
-
An enquiry service for trustees seeking an independent examiner
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Providing Bible study lectures for international students and Church members in London
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Holding of prayer meetings and public owrship to the general public
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Providing financial support and missionary to the Churches and local communities outside UK.
1
BEAUTIFUL CHURCH LONDON Registered number: TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 30 April 2022
10155669
Public Benefit
The trustees confirm that they have had due regard to the pulic benefit guidance published by the Charity Commission in exercising their powers or duties, as required in the Charities Act 2006/2011.
FINANCIAL REVIEW
General Fund income was £73,735 (2021: £80,605), all from donations. Expenditure was £71,547 (2021: £62,424) resulting as Net Income of £2,188 (2021: net income of £18,181).
APPROVAL
This report, which has been prepared in accordance with the provision in the Companies Act 2006 relating to small companise, was approved by the trustees on 21st February 2023 and signed on their behalf by:
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Sung Jin KIM - Trustee Giwook Byun - Treasurer
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………………………………….. …………………………………. Date: …21/02/2023…… Date: …21/02/2023……
2
BEAUTIFUL CHURCH LONDON INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BEAUTIFUL CHURCH LONDON
I report on the accounts of BEAUTIFUL CHURCH LONDON for the year ended 30 April 2022 which are set out on pages 4 to 9.
Respective Responsibilities of Trustees and Examiner
The Society's trustees are responsible for the preparation of the accounts. The Society's trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed.
It is our responsibility to:
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(i) examine the accounts under section 145 of the Charities Act
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(ii) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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(iii) to state whether particular matters have come to our attention.
Basis of Independent Examiner's Statement
Our examination was carried out in accordance with General Directions given by the Charity Commission. 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 it seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the 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 in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to our attention:
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which give me reasonable cause to believe that in, any material respect, the requirements:
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(i) to keep accounting records in accordance with section 130 of the Charities Act; and
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(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
Kye S Yin (FCCA, AAIA, MAAT, MBA) Chartered Certified Accountants
Unit 2, 5 & 6 Second Floor 39-41 High Street New Malden, Surrey KT3 4BY
21/02/2023
3
BEAUTIFUL CHURCH LONDON STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 April 2022
| Income from: Voluntary Income Charitable Activities Investments (Interest Receivable) Expenditure on: Charitable Activities Net Income/(Expenditure) Transfers between funds Net Movement in funds Total funds brought forward Total funds carried forward |
Notes | Unrestricted Restricted Total Total Funds Funds 2022 2021 |
|---|---|---|
| 3 4 6 7 |
£ £ £ £ 73,735 - 73,735 80,605 - - - - - - - - |
|
| 73,735 - 73,735 80,605 |
||
| 71,547 - 71,547 62,424 |
||
| 2,188 - 2,188 18,181 - - - - |
||
| 2,188 - 2,188 18,181 34,984 - 34,984 16,803 |
||
| 37,172 - 37,172 34,984 |
4
BEAUTIFUL CHURCH LONDON Registered number: Balance Sheet as at 30 April 2022
10155669
| Balance Sheet as at 30 April 2022 |
||
|---|---|---|
| Fixed Assets Tangible Assets Total Fixed Assets Current Assets Debtors Cash at bank and in hand Total Current Assets Creditors: Amount falling due within one year Net Current Assets/(Liabilities) Total Assets Less Current Liabilities Creditors: Amount falling due after more than one year Provisions for liabilities and charges Total Net Assets Funds of the Charity Restricted funds Unrestricted funds General Income Fund Total Funds |
Notes | Unrestricted Restricted Total Total Funds Funds 2022 2021 |
| 2 8 9 7 7 |
£ £ £ £ 5,112 - 5,112 5,733 |
|
| 5,112 - 5,112 5,733 |
||
| - - - 760 23,036 9,371 32,407 28,517 |
||
| 23,036 9,371 32,407 29,277 |
||
| 347 - 347 26 |
||
| 22,689 9,371 32,060 29,251 |
||
| 27,801 9,371 37,172 34,984 |
||
| - - - - |
||
| 27,801 9,371 37,172 34,984 |
||
| - - - - 37,172 - 37,172 34,984 |
||
| 37,172 - 37,172 34,984 |
The trustees (who are also the directors of the company for the purposes of company law) confirmed that for the year ended 30 April 2021:
-
the company is entitled to exemption from audit under section 477 of the Companies Act 2006, and
-
member have not required the charity company to obtain an audit of its financial statements for the year in question in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
- ensuring that the charitable company keeps accounting record that comply with Sections 386 and 387 of the Companies Act 2006
The accounts which have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies, were approved by the trustees on 12th December 2021 and signed on their behalf by:
Sung Jin KIM - Trustee
Giwook Byun - Treasurer
………………………………….. Date: …21/02/2023……
…………………………………. Date: …21/02/2023……
5
BEAUTIFUL CHURCH LONDON Notes to the Financial statements for the year ended 30 April 2022
1 Accounting policies
(a) Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, the Charities Act 2011, Accounting & Reporting by Charities: Statement of Recommended Practice (Charties SORP FRS102).
- (b) Income Resources
All incoming resources are included on the statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonably accuracy.
Voluntary Income
Voluntary income is received by way of member's subscriptions and donations. Members' subscriptions income is credited in the financial statements in period when it is received. No adjustment is made in respect of subscriptions outstanding or received in advance. Donations are taken to income in the year of receipt.
Interest Receivable
Interest on funds held on deposit is included when receiveable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Charitable Activities
Incoming resources from charitable activities are accounted for in the period when the production takes place. Income is deferred when admission fees are received in advance of the performances to which they relate.
(c) Expenditure and liabilities
Expenditure is recognised on the accurals basis. The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
(d) Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. The charity does not currently have any capitalised assets.
Fitting Out, Improvements & Equipment : Over 5 years
- (e) Taxation
The charity is exempt from corporation tax on its charitable activities.
(f) Funding Accounting
Unrestricted Funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted Funds
Restricted funds can only used for particular restricted purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
(g) Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6
BEAUTIFUL CHURCH LONDON Notes to the Financial statements for the year ended 30 April 2022
2 Tangible Fixed Assets
| Cost At 01.05.2021 Addition Cost at 30.04.2022 Depreciation At 01.05.2021 Charge for the period Depreciation at 30.04.2022 Net Book Value At 30.04.2022 At 30.04.2021 |
Fixtures & Fittings £ - - |
Fixtures & Fittings £ - - |
Leasehold Land & Building Total £ £ £ 8,110 - 8,110 658 - 658 Equipments |
Leasehold Land & Building Total £ £ £ 8,110 - 8,110 658 - 658 Equipments |
|---|---|---|---|---|
| - | 8,768 | - 8,768 |
||
| - - |
2,378 1,278 |
- 2,378 - 1,278 |
||
| - | 3,656 | - 3,656 |
||
| - | 5,112 | - 5,112 |
||
| - | 5,732 | - 5,732 |
3 Voluntary Income
| Voluntary Income | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Donation for Anathoth | - | - | - | 400 |
| Donation for Christmas | 940 | - | 940 | 1,200 |
| Donation for Easter | 1,230 | - | 1,230 | 2,000 |
| Donation for New Year | 850 | 850 | ||
| Donation for Thanks | 13,441 | 13,441 | ||
| Donation for Thanks giving | 1,200 | 1,200 | ||
| Donation- Regular donation(Tithe) | 44,449 | - | 44,449 | 40,336 |
| Donation-Mission funds | 400 | - | 400 | 7,940 |
| Donation-PATCH-Charity | 870 | - | 870 | 780 |
| Interest receivable | 1 | - | 1 | 3 |
| One off donation(General) | 7,885 | - | 7,885 | 6,000 |
| Other operating income | 2,469 | - | 2,469 | 2,929 |
| 73,735 | - | 73,735 | 61,588 | |
| Income from Charitable Activities | ||||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Charity Event | - | - | - | - |
| Others | - | - | - | - |
| - | - | - | - | |
| Income from Investments | ||||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Interest Receivable | - | - | - | - |
| - | - | - | - |
4 Income from Charitable Activities
5 Income from Investments
7
BEAUTIFUL CHURCH LONDON Notes to the Financial statements for the year ended 30 April 2022
| Total Income: | 73,735 | - | 73,735 | 61,588 |
|---|---|---|---|---|
| Expenditure on Charitable Activities | ||||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Direct Costs | ||||
| Charitible Expenditure | 4,508 | - | 4,508 | 6,185 |
| Lecture Fees | 100 | - | 100 | 236 |
| Miscellaneous Cost | - | - | - | 150 |
| 4,608 | - | 4,608 | 6,571 | |
| Support Costs | ||||
| Accountancy fees | 50 | - | 50 | - |
| Advertising and PR | 315 | - | 315 | 265 |
| Bank charges | - | - | - | 25 |
| Depreciation | 1,278 | - | 1,278 | 1,433 |
| Education and Training | 2,702 | - | 2,702 | 471 |
| Equipment expensed | 195 | - | 195 | - |
| Information and publications | 60 | - | 60 | - |
| Insurance | 440 | - | 440 | 284 |
| Management fees | 1 | 1 | - | |
| Members Meetings | 1,745 | 1,745 | - | |
| Motor expenses | 1,416 | 1,416 | 998 | |
| Motor expenses- Fuel | 1,475 | 1,475 | 464 | |
| Pensions | 3,509 | 3,509 | 3,342 | |
| Postage | 32 | - | 32 | 80 |
| Rent | 8,300 | - | 8,300 | 5,796 |
| Rent - Mokyang Hall | 23,820 | - | 23,820 | 22,386 |
| Repairs and maintenance | 34 | - | 34 | 82 |
| Software | 194 | - | 194 | 294 |
| Stationery and printing | 218 | 218 | 74 | |
| Subscriptions | 489 | 489 | 650 | |
| Subsistence | 743 | - | 743 | 519 |
| Sundry | 1,049 | - | 1,049 | 687 |
| Travel and subsistence | 305 | - | 305 | 44 |
| Wages and salaries | 18,569 | - | 18,569 | 17,960 |
| 66,939 | - | 66,939 | 55,854 | |
| Total Costs: | 71,547 | - | 71,547 | 51,744 |
| Movements in funds | ||||
| As at | Incoming | Outgoing | As at | |
| 30/04/2021 | Resources | Resources | 30/04/2022 | |
| Unrestricted funds | £ | £ | £ | £ |
| General fund | 34,984 | 73,735 | 71,547 | 37,172 |
| Restricted funds | - | - | - | - |
| Total Funds | 34,984 | 73,735 | 71,547 | 37,172 |
6 Expenditure on Charitable Activities
7 Movements in funds
8
BEAUTIFUL CHURCH LONDON Notes to the Financial statements for the year ended 30 April 2022
8 Cash at Bank and in Hand
| Cash at Bank and in Hand | Cash at Bank and in Hand | |
|---|---|---|
| Unrestricted Restricted Funds Funds £ £ Cash at Bank 20,933 9,371 Cash in Hand 2,103 - 23,036 9,371 Creditors and Accruals Trade Debtor Creditors and Accruals Trade Creditors Independent Examiner Fee PAYE & NI Contributions and Pension |
Total Total 2022 2021 |
|
| £ £ 20,933 9,371 2,103 - |
£ £ 30,304 17,164 2,103 2,103 |
|
| 23,036 9,371 |
32,407 28,517 |
|
| Total Total 2022 2021 |
||
| £ £ - 760 |
||
| - 760 |
||
| Total Total 2021 2021 |
||
| £ £ - - - - 347 26 |
||
| 347 26 |
9 Creditors and Accruals
9 Creditors and Accruals
9