## **COLCHESTER CHINESE ASSOCIATION** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS** ## **YEAR TO 30 APRIL 2022** **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 2022** **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 ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022 The trust&s present thelr reFKXt wlth the finandal Staten￿nts of the charity for the year ended 30 Aprll 2022. The trustees have adopted the provisions of Accounting and Reporting by Charib'es: ststement of Recommended Practice applicable to charities prepanrKJ their accounts in accordan wth the Flnandal RepcKts'r¥J Stsrthrd applKable in the UK and Republic of Ireland (FRS 102) (effettlve l January 2015). Objectlves and activitles The purp￿ of the charity as set (rtrt In ￿ goveming d(￿rn￿t is to proV￿e and assist in the prtriislon facilities for the oJuCat￿, recreati￿ and otsr leisu￿ time ￿pati(￿ of the inhabitants of Cdchester and the surrounding areas, in particular but not exdusively members of the Chinese communty, in the Interests of soclal welfare and W+ith ￿ object of improving their conditions in life. Also to advance the education of the public in Chinese language, heritage, culture and the arts, indudirMJ through workslw and educab(yial prTrJrdmmes. Our maln activlties Ind￿e a varbety of enrlthment prograrnmes ￿ch a5 culturdl ￿leb￿tIons, fundr31sing events, wdlness dasses, day (￿ting$ and an el(krly lunth dub. Achievement and performance The Charity's acbvities were limited durlng the year due to the ongoir¥J impact to: The prcwlslon of tt* thlnese Leamlng Centre whid) educates thildren from 5 years old to adults; Prtrrfision of festive and cultural emts for member5 at a I￿￿)rOfit rate; Finandal revlew The charity has commttd to pay a conslderable rent of £24,000 per annum for the centre on a 15 year lease receives a varEty cf IrKome swrces as kn in the SOFA to cover overheads and secure the future running of the ￿tre. During the year donations accounted for £8,040 (360/0) of the total Inccvne of the d)arity of £22,494. Evats income account&J for 29% of totsl income. The centre could not function with(Krt ￿ generous Su￿)Ort of vdunteers who give tr£ir time to assist in the leaming ca)tre. e to the covid-19 paTrJemlc, Income for the past 3 years IK45 been significantly impacted. However, trustees a￿ working on plans to grow the charity and to address the short term finanaal impart of a shortfall in ir￿Orne. Trust&s agreed a reduction in rent and a future payment plan with the landlord to ease the financial burden of the rent durirvj the period of low income impacted by COVID. The trustees are of the opinion that they have sUffic￿nt reserves to meet future extEnditure and continue to be a going (￿Cern. Strnctur& governance and management The Charity is contrdled by its g￿ernIng documenL a de8J of trust and constitutes a tharitable Incorpordted organizati(￿ (CIO) under UK Charity CommissKn law. Approval by order of the board of trustees 14 Wtl 2022 a￿1 Sig￿ on its behalf by.. Wing Fai awTrJ . trustee 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLCHESTER CHINESE ASSOCIATION FOR THE YEAR ENDED 30 APRIL 2022** 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 2022 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). Given that no independently examined accounts were produced for the year to 30 April 2021, my examination has been limited to the information reported for the year ended 30 April 2022 and gives no opinion on the prior year comparatives presented. There are no further 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: 21/04/2023 Essex CO16 0LW 4 ## **COLCHESTER CHINESE ASSOCIATION** ## **SUMMARY STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 APRIL 2022** |**general**
**designated**
**Notes**
**£**
**£**
**Income and endowments from:**
Income from Charitable Activities
2
Fees
7,954
Fundraising events
6,500
Other charitable activities
0
Investment income
0
Donations and legacies
8,040
Other income
0
**Total income**
22,494
0
**Expenditure**
Expenditure on Charitable activities:
Community Association
3
37,424
0
**Total expenditure**
37,424
0
**Net income/(expenditure) before transfers**
-14,930
0
**Transfer between funds**
0
0
**Net movement in funds**
-14,930
0
**Fund balances at 1 May 2021**
34,691
0
**Fund balances at 30 April 2022**
£
19,761 £
0 £
**Unrestricted**|**Restricted**
**£**
0
0
0
0
0
0
0
0
0
0
0
0
0
0 £|**Total**
**2022**
**£**
7,954
6,500
0
0
8,040
0
22,494
37,424
37,424
-14,930
0
-14,930
34,691
19,761 £|**Total**
**2021**
**£**
0
25,460
0
0
0
0
25,460
26,083
26,083
-623
0
-623
35,314
34,691| |---|---|---|---| 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. COLCHESTER CHINESE AssoaAnON BALANCE SHEET AS AT 30 APRIL 2022 2022 2021 CURRENT ASSETS DebtOT5 Bank balarKes arKI Gsh in haThJ I3,5￿￿ 6,861 20,361 13,5(N) 6,861 13,51YJ 22.391 35,891 UABILrriES: amounts falling due wlthln one year 1,2cKI NET CURRENT ASSETS 19,761 19,761 34.691 TOTAL ASSEfs LESS CURRENT LZABILITIES 19,761 19,761 34.691 TOTAL NET ASSErs £ 19,761 £ 0 £ 19,761 E Y,691 FUNDS unreStnc￿ inc(me funds: Gwerl funds TOTAL FUNDS 19,761 É 19,761 £ 19,761 0 £ 19,761 £ Ip*Me 131 IP4Jte 12} 34,691 34,691 The finarKwl ments were approved by ts Board cffl 14 April 2023 a￿1 s19￿1 on its behalf by Wirvj Fai C￿eUng C￿npanY number 1173523 **COLCHESTER CHINESE ASSOCIATION** 6 ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2022** ## **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. 7 ## **COLCHESTER CHINESE ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 30 APRIL 2022** **----- Start of picture text -----**
||||||||||| |---|---|---|---|---|---|---|---|---|---| |3|INCOME FROM CHARITABLE ACTIVITIES|Unrestricted|Restricted|Total|Total| |general|designated|2022|2021| |Fees| |Chinese learning centre|7,954|0|0|7,954| |Membership fees|0|0|0|0| |£|7,954|£|0|£|0|£|7,954|£|0| |Fundraising events| |Dragon Boat festival|0|0|0|0| |Elderly annual dinner|2,500|0|0|2,500| |Mid autumn festival|4,000|0|0|4,000| |Golf tournament|0|0|0|0| |Chinese New year|0|0|0|0| |Charity night|0|0|0|0| |Food and drink event|0|0|0|0| |Quiz event|0|0|0|0| |Christmas event|0|0|0|0| |Tea event|0|0|0|0| |£|6,500|£|0|£|0|£|6,500|£|25,460| |Other income| |Shop income/book sales|0|0|0|0|0| |£|0|£|0|£|0|£|0|£|0| |3|EXPENDITURE| |Unrestricted|Restricted|Total|Total| |general|designated|2022|2021| |£|£|£|£|£| |Direct project costs|2,221|0|0|2,221|1,226| |Rent, rates and insurance|18,031|0|0|18,031|4,917| |Heat and light|0|0|0|0|1,193| |Telephone|647|0|0|647|809| |Travel costs|5,198|0|0|5,198|7,991| |Printing, stationery and advertising|394|0|0|394|712| |Repairs and maintenance|3,208|0|0|3,208|1,791| |Bank charges and write offs|6,359|0|0|6,359|20| |Other expenses|200|0|0|200|6,824| |Computer costs|1,166|0|0|1,166|600| |Governance costs|0|0|0|0|600| |£|37,424|£|0|£|0|£|37,424|£|26,683| **----- End of picture text -----**
8 ## **COLCHESTER CHINESE ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 30 APRIL 2022** ## **4 TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES** There was no remuneration or other benefits paid to the trustees during the year ended 30 April 2022. There were no expenses reimbursed to trustees for the year ended 30 April 2022. ## **5 STAFF COSTS** There were no employees during the year ended 30 April 2022. |**6**|**DEBTORS**||||**Total**||**Total**| |---|---|---|---|---|---|---|---| ||||||**2022**||**2021**| ||||||**£**||**£**| ||Other debtors||||13,500||13,500| |||||£|13,500|£|13,500| |**7**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||**Total**||**Total**| ||Other creditors||||**2022**
**£**
600||**2021**
**£**
1,200| |||||£|600|£|1,200| |**8**|**LEASE COMMITMENTS**||||**Total**||**Total**| ||Minimum lease payments under non-cancellable|operating leases|fall due as follows:||**2022**
**£**||**2021**
**£**| ||Between one and five years||||120,000||120,000| ||Between five and ten years||||120,000||120,000| ||Between ten and fifteen years||||4,000||52,000| ||||||244,000|£|292,000| |**9**|**MOVEMENT IN FUNDS**||||||| ||As at 1 April 2021|**Unrestricted Restricted**
**Fund**
**Funds**
**£**
**£**
34,691
0|||**Total**
**2022**
**£**
34,691||**Total**
**2021**
**£**
35,314| ||Incoming resources||22,494
0||22,494||25,460| ||Transferred in year||0
0||0||0| ||Expended in period||57,185
0
37,424
0||57,185
37,424||60,774
26,083| ||Balance 30 April 2022|£|19,761 £
0|£|19,761|£|34,691|