## **COLCHESTER CHINESE ASSOCIATION** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS** ## **YEAR TO 30 APRIL 2024** **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| 1 ## **COLCHESTER CHINESE ASSOCIATION** ## **REFERENCE AND ADMINISTRATIVE INFORMATION 30 APRIL 2024** ## **Trustees:** Wing Fai Cheung Sze Choi Choi Peter Cheng **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 REPORT OF THE TRusfEES FOR THE YEAR ENDED 30 APRIL 2024 The twstees present their report with the financial statements of the charity for the year ended 30 April 2024. The trustees have adopted the provisions of Accounting and RetX)rting by Charltses: ststement of Recommended Practice applicable to charltles preparlng their accounts In accordan with the Financial Rep)rting Standard applicable In the UK and Republic of IrelarKI (FRS 102) (effective l January 2015). Objectives and activities The pUr￿Se of the charity as set out in its goveming document is to provide arKJ 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 exclusivety members of the Chinese community, in the interests of the social welfare and with the object of improving their conditions in life. Also to advan￿ the education of the public in Chinese language, heritage, culture and the arts, induding through workshops and educational programmes. (Ajr main actvitses Ir￿lude a variety of enrichment programmes such as cultural ￿lebrationS, fvndraising events, wellness dasses, day outings and an elderly lunch club. Achievement and perforniance The Charity s attivities were limited to the following during the year: The provision of the Chinese Leaming Centre which educates chIld￿n from 5 years old to adults; Provision of festive and cultural events for members at a non-profit rate; Financial review The charity has committed to pay a considerable rent of £24,000 per annum for the ￿ntre on a 15 year lease and receives a variety of income sources as shown in the SOFA to cover overheads and secure the future njnning of the centre. Income once again increased over the previous year. During year donations accounted for £8,810 (14 % ) of the totsl income of the charity of £63,963. Events income accounted for 49% (2023: 49 1) of totsl income. Net surplus for the year remained consistent with the previous year at £3,890 (2023: £4,202) The centre could not function without the generous SUPFX)rt of volunteers who give their time to assist in the leaming centre. Trustees agreed a redLKtion in rent with the landlord to ease the financial burden of the rent during the period of low income impacted by COVID. It has been agreed that rent is paid at this lower rate for the foreseeable future. The trustees are of the opinion that they have sufficient reserves to meet future expenditure and continue to be a going concern. Structurei governance and management The Charity is controlled by its governing document, a deed of tnjst and constitutes a charitsble incortx)rnted organihition (ao) under UK Charity Commission law. Approved by order of stees on 28 February 2025 and s￿ned on its behalf by: Peter Cheng . trustee 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLCHESTER CHINESE ASSOCIATION FOR THE YEAR ENDED 30 APRIL 2024** 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 2024 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). 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 Essex CO16 0LW Date: 28/02/2025 4 ## **COLCHESTER CHINESE ASSOCIATION** ## **SUMMARY STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 APRIL 2024** |**general**
**designated**
**Notes**
**£**
**£**
**Income and endowments from:**
Income from Charitable Activities
2
Fees
23,546
Fundraising events
31,607
Other charitable activities
0
Investment income
0
Donations and legacies
5,338
Other income
0
**Total income**
60,491
0
**Expenditure**
Expenditure on Charitable activities:
Community Association
3
56,601
0
**Total expenditure**
56,601
0
**Net income/(expenditure) before transfers**
3,890
0
**Transfer between funds**
0
0
**Net movement in funds**
3,890
0
**Fund balances at 1 May 2023**
23,963
0
**Fund balances at 30 April 2024**
£
27,853 £
0 £
**Unrestricted**|**Restricted**
**£**
0
0
0
0
0
0
0
0
0
0
0
0
0
0 £|**Total**
**2024**
**£**
23,546
31,607
0
0
5,338
0
60,491
56,601
56,601
3,890
0
3,890
23,963
27,853 £|**Total**
**2023**
**£**
17,077
23,575
0
0
2,770
5,000
48,422
44,220
44,220
4,202
0
4,202
19,761
23,963| |---|---|---|---| 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 SHEET AS AT 30 APRIL 2024 Total Tatsl 2024 2023 CURRErir ASSErs Debtors Bank balarK&q and in hand 13500 15553 29053 135(X) 15553 2￿53 135 12263 25763 UABfLrriES: am(wnts falllng due within one year 12(X) NET CURRENT ASSETS 27853 27853 TOTAL ASSETS LESS CURRENT UABIUTIES 27853 27853 TOTAL NET ASSETS 27853 £ 0 £ 27853 FUNDS Unre5tritted inconE furKls: Crnl furnls TOTAL FUNDS 27853 27853 £ 27853 0£ 27853£ {Pk¢e 13) INc*e 121 The finanoal state￿5 were appro￿ by the PA)ard on 28 February 2025 and ggned on its behalf by Company numbex 1173523 **COLCHESTER CHINESE ASSOCIATION** 6 ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2024** ## **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 2024** |**3**|**INCOME FROM CHARITABLE ACTIVITIES**|**INCOME FROM CHARITABLE ACTIVITIES**|**Unrestricted**|**Restricted**|**Restricted**|**Total**||**Total**| |---|---|---|---|---|---|---|---|---| ||**Fees**||**general**
**designated**|||**2024**||**2023**| ||Chinese learning centre||23,546
0||0|23,546||17,077| ||Membership fees||0
0||0|0||0| |||£|23,546 £
0 £||0 £|23,546|£|17,077| ||**Fundraising events**|||||||| ||Dragon Boat festival||6,255
0||0|6,255||4,010| ||Elderly annual dinner||2,880
0||0|2,880||6,600| ||Mid autumn festival||7,255
0||0|7,255||6,000| ||Chinese New year||7,382
0||0|7,382||6,965| ||Just Giving||7,835|||7,835||0| |||£|31,607 £
0 £||0 £|31,607|£|23,575| ||**Other income**|||||||| ||Shop income/book sales||0
0||0|0||0| |||£|0 £
0 £||0 £|0|£|0| |**3**|**EXPENDITURE**||**Unrestricted**|**Restricted**||**Total**||**Total**| ||Direct project costs||**general**
**designated**
**£**
**£**
5,886
0|**£**|0|**2024**
**£**
5,886||**2023**
**£**
2,063| ||Rent, rates and insurance||12,583
0||0|12,583||8,310| ||Heat and light||10,719
0||0|10,719||9,894| ||Telephone||730
0||0|730||994| ||Travel costs||13,970
0||0|13,970||11,220| ||Printing, stationery and advertising||836
0||0|836||1,528| ||Repairs and maintenance||2,685
0||0|2,685||8,583| ||Bank charges and write offs||0
0||0|0||0| ||Other expenses||761
0||0|761||428| ||Just Giving Charity Donation||7,831
0||0|7,831||0| ||Governance||600
0||0|600||1,200| |||£|56,601 £
0 £||0 £|56,601|£|44,220| 8 ## **COLCHESTER CHINESE ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued YEAR ENDED 30 APRIL 2024** ## **4 TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES** There was no remuneration or other benefits paid to the trustees during the year ended 30 April 2024. There were no expenses reimbursed to trustees for the year ended 30 April 2024. ## **5 STAFF COSTS** There were no employees during the year ended 30 April 2024. |**6**|**DEBTORS**|**Total**||**Total**| |---|---|---|---|---| |||**2024**||**2023**| |||**£**||**£**| ||Other debtors|13,500||13,500| ||£|13,500|£|13,500| |**7**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors|**Total**
**2024**
**£**
1,200||**Total**
**2023**
**£**
600| ||£|1,200|£|600| |**8**|**LEASE COMMITMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
Between one and five years
Between five and ten years
Between ten and fifteen years|**Total**
**2024**
**£**
120,000
78,000
0||**Total**
**2023**
**£**
120,000
99,000
0| |||198,000|£|219,000| |||||| ## **9 MOVEMENT IN FUNDS** |**Unrestricted Restricted**
**Fund**
**Funds**
**£**
**£**
As at 1 April 2023
23,963
0
Incoming resources
60,491
0
Transferred in year
0
0
84,454
0
Expended in period
56,601
0
Balance 30 April 2024
£
27,853 £
0 £|**Total**
**2024**
**£**
23,963
60,491
0
84,454
56,601
27,853 £|**Total**
**2023**
**£**
19,761
48,422
0
68,183
44,220
23,963| |---|---|---|