2021-04-30-accounts

COLCHESTER CHINESE ASSOCIATION

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS

YEAR TO 30 APRIL 2021

Registered Charity No: 1173523

COLCHESTER CHINESE ASSOCIATION

CONTENTS

	Pages
Reference and administrative information	1
Report of the trustees	2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6-8

COLCHESTER CHINESE ASSOCIATION

1

REFERENCE AND ADMINISTRATIVE INFORMATION 30 APRIL 2021

Trustees: Kwok Fai Yau (retired February 2021) Wing Fai Cheung Sze Choi Choi Peter Cheng (appointed February 2021) Principal address: 1 & 3 Blomfield Place 25 St Botolph's Street Colchester Essex CO2 7EA Registered Charity No: 1173523 Independent Examiner: Lesley Frearson FCCA Frearson Business Support The Anchorage 81 Landermere Road Thorpe-le-Soken Essex CO16 0LW

COLCHEsfER CHINESE ASSOC TION ' REPORT OF THE TRusfEES FOR THE YEAR ENDED 30 APRIL 2021 The trustees present their report with the finanaal ststements of the chaiity for the year ended 30 April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: ststement of Recommended Prattl￿ applicable to charities preparing their accounts in accordan with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). Objectives and activiti&s The purpose of the charity as set out in ts governing document is to provide and assist in the provision of facilities for the education, recreation and other leisure time occupation of the inhabitsnts of Colchester and the surrounding areas, in particular but not exclusively members of the Chinese communty, in the interests of the social welfare and with the objert of improving their conditions in life. Also to advance the education of the public in Chinese language, heritsge, culture and the arts, induding through workshops and educational progrdmmes. Our main activities include a variety of enrithment programmes such as culturdl ￿lebrationS, fvndraising events, wellness dasses, day outings and an elderfy lunch dub. Achievement and performan The Chaiitys attivities were limited during the year due to the ongoing impatt to: The provision of the Chinese Learning Centre which educates children from 5 years old to adults; Provision of festive and culturdl events ￿r members at a non-profft rdte; Financial review The charity has committed to pay a considerable rent of £24,000 per annum for the a 15 year lease and receiv￿ a Wdriety of income sources as shown in the SOFA to cover overheads and secure the fvture running of the ￿ntre. During the year donations accounted for £5.739 (23%) of the totsl income of the charity of £25,460. Events income accounted for 44% of totsl incoff£. The ￿ntre could not function without the generous support of volunteers who give ￿1r time to assist in the learning ￿ntre. Due to the covid-19 pandemic, income for the past 2 years has b￿n significantly impacted. However, trustees are working on plans to both grow the charity and to address the short temi financial impart of a shortfrall In income. Trustees agreed a reduction in rent and a future payment plan with tt landlord to ease the finanaal burden of the rent during the perlod of low income impacted by COVID. The trustees are of the opinion that they have sufficient reserves to m￿t future expenditure and continue to be a going con￿rn. Structurei governance and management The tharity is controlled by its govemlng documenL a deed of trust and constitutes a charitsble incorpornted organization (ao) under UK Charity Commisslon law. . Approved by order of the board of trustees on 14 Aprll 2023 and slgned on Its behalf by: Wing Fai Cheu trust

3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLCHESTER CHINESE ASSOCIATION FOR THE YEAR ENDED 30 APRIL 2021

I report to the charity's trustees on my examination of the financial statements of the Colchester Chinese Association (‘the trust’) for the year ended 30 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charitable company's directors those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and their trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Ø accounting records were not kept in respect of the charity as required by section 130 of the Act; or

Ø the financial statements do not accord with those records; or

Ø the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Lesley Frearson FCCA The Anchorage 81 Landermere Road Thorpe-le-Soken Date: 30/05/2023 Essex CO16 0LW

4

COLCHESTER CHINESE ASSOCIATION

SUMMARY STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 APRIL 2021

general designated Notes £ £ Income and endowments from: Income from Charitable Activities 2 Fees 7,481 Fundraising events 11,139 Other charitable activities 1,102 Investment income 0 Donations and legacies 0 Other income 0 Total income 19,722 0 Expenditure Expenditure on Charitable activities: Community Association 3 19,804 0 Total expenditure 19,804 0 Net income/(expenditure) before transfers -82 0 Transfer between funds 0 0 Net movement in funds -82 0 Fund balances at 1 May 2020 34,774 0 Fund balances at 30 April 2021 £ 34,691 £ 0 £ Unrestricted	Restricted £ 0 0 0 0 5,739 0 5,739 6,279 6,279 -540 0 -540 540 0 £	Total 2021 £ 7,481 11,139 1,102 0 5,739 0 25,460 26,083 26,083 -623 0 -623 35,314 34,691 £	Total 2020 £ 12,076 24,221 175 11 2,390 0 38,873 58,837 58,837 -19,964 0 -19,964 55,278 35,314

The above results are derived from activities from this date. No activities have been acquired or discontinued since this date. All gains and losses in the year are included above.

COLCHEsfER CHINESE ASSOCIATION BALANCE SHEEr AS AT 30 APRIL 2021 Unrestrlcted Genernl Deslgnated Funds Total 2021 Totsl 2020 CURREKf ASSErs Debtors Bank balances and cash in hand 13,500 22,391 35,891 13,500 22,391 35,891 23,014 36,514 LWILMES: amounts falling due within one year 1,200 1.200 12(X) NEf CURREKf ASSErs 34,691 34,691 35314 TOTAL ASSEfs LESS CURRENT UABILrnES 34,691 34,691 35J14 TOTAL NET ASSErs £ 34,691 £ £ 34,691 £ 35314 FUNDS Unrestricted income fvnds: General fvnds TOTAL FUNDS 34,691 £ 34,691 E 34,691 E 34,691 £ 35,314 35,314 (Note 13) (Note 12) The financial teptsits were roved by the Board on 14 April 2023 and signed on its behalf by Wing Fai eung Company number 1173523

COLCHESTER CHINESE ASSOCIATION

6

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

1 ACCOUNTING POLICIES

The Principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceeding year.

Basis of accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (effective 1 January 2015) - (Charities SORP (FRS 102)) and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention.

The financial statements include all transactions, assets and liabilities for which the charity is responsible by law. The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The financial statements are rounded to the nearest £1 and are prepared for Sterling

Fund accounting

Funds restricted by the donor or raised for a particular restricted purpose are treated as restricted funds.

All other receipts are unrestricted funds.

Incoming resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructuve obligation committing the charity to that expenditure, it is porbable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and

has been classified under headings that aggregate all cost related to the category. Where costs cannote be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The Charity is a charity within the meaning of the Charities Act 2011 and as such is a charity within the meaning of Part 11, Corporation Tax Act 2010. Accordingly the Charity is potentially exempt from taxation in respect of income or gains received within categories covered by Part 11, Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purpose.

Legacies

Legacies are accounted for once the charity is entitled to the legacy. Entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

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COLCHESTER CHINESE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 30 APRIL 2021

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |3|INCOME FROM CHARITABLE ACTIVITIES|Unrestricted|Restricted|Total|Total| |general|designated|2021|2020| |Fees| |Chinese learning centre|6,176|0|0|6,176|10,346| |Membership fees|1,305|0|0|1,305|1,730| |£|7,481|£|0|£|0|£|7,481|£|12,076| |Fundraising events| |Dragon Boat festival|1,000|0|0|1,000|1,537| |Elderly annual dinner|3,639|0|0|3,639|2,275| |Mid autumn festival|4,250|0|0|4,250|10,137| |Golf tournament|0|0|0|0|9,902| |Chinese New year|2,250|0|0|2,250|0| |Charity night|0|0|0|0|370| |Food and drink event|0|0|0|0|0| |Quiz event|0|0|0|0|0| |Christmas event|0|0|0|0|0| |Tea event|0|0|0|0|0| |£|11,139|£|0|£|0|£|11,139|£|24,221| |Other income| |Shop income/book sales|1,102|0|0|1,102|175| |£|1,102|£|0|£|0|£|1,102|£|175| |3|EXPENDITURE| |Unrestricted|Restricted|Total|Total| |general|designated|2021|2020| |£|£|£|£|£| |Direct project costs|1,226|0|0|1,226|4,721| |Rent, rates and insurance|4,917|0|0|4,917|32,834| |Heat and light|1,193|0|0|1,193|11,382| |Telephone|809|0|0|809|492| |Travel costs|7,991|0|0|7,991|5,510| |Printing, stationery and advertising|712|0|0|712|651| |Repairs and maintenance|1,318|0|0|1,318|785| |Bank charges|20|0|0|20|134| |Other expenses|545|0|6,279|6,824|2,128| |Computer costs|473|0|0|473|200| |Governance costs|600|0|0|600|200| |£|19,804|£|0|£|6,279|£|26,083|£|59,037|

----- End of picture text -----

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COLCHESTER CHINESE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 30 APRIL 2021

4 TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES

There was no remuneration or other benefits paid to the trustees during the year ended 30 April 2021

There were no expenses reimbursed to trustees for the year ended 30 April 2021

5 STAFF COSTS

There were no employees during the year ended 30 April 2021.

6	DEBTORS				Total		Total
					2021		2020
					£		£
	Other debtors				13,500		13,500
				£	13,500	£	13,500
7	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR				Total		Total
	Other creditors				2021 £ 1,200		2020 £ 1,200
				£	1,200	£	1,200
8	LEASE COMMITMENTS				Total		Total
	Minimum lease payments under non-cancellable	operating leases	fall due as follows:		2021 £		2020 £
	Between one and five years				120,000		120,000
	Between five and ten years				120,000		120,000
	Between ten and fifteen years				28,000		52,000
					268,000	£	292,000
9	MOVEMENT IN FUNDS
	As at 1 April 2020	Unrestricted Restricted Fund Funds £ £ 34,774 540			Total 2021 £ 35,314		Total 2020 £ 55,278
	Incoming resources		19,722 5,739		25,461		38,873
	Transferred in year		0 0		0		0
	Expended in period		54,496 6,279 19,804 6,279		60,775 26,083		94,151 58,837
	Balance 30 April 2021	£	34,691 £ 0	£	34,691	£	35,314

Restricted funds represent funds collected as a donation towards the NHS. Further donations were received during May 2020 and the balance paid over to the NHS on 14 May 2020.