Connect: North Korea Charitable Incorporated Organisation CIO Registration Number: 1176563 Unaudited Accounts Trustees Report and Financial Statements For the year ended 31 December 2021.
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Connect: North Korea
Contents
| Page | |
|---|---|
| Reference and Administration Details | 3 |
| Trustees Report | 4 |
| Independent Examiners Report | 13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Notes to the Financial Statements | 16 |
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Connect: North Korea
Reference and Administration Details for the Financial Year Ended 31 December 2021.
Trustees
Robin Peter Walker (Chair) Richard Moreton (Treasurer) Jinhee Lee Margaret Ahn Mitra Moadab Motlagh (Appointed: 12/04/2021) Sultan Torshkhoev (resigned: 01/05/2021) Jennifer Holroyd (resigned: 22/01/2022) Mario Dunn (resigned: 22/01/2022)
Charity Registration Number
1176563
Registered Office
149 High Street, New Malden, Greater London, KT3 4BH
Bank
CAF Bank, 25 Kings Hill Ave, Kings Hill, West Malling, ME19 4JQ
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Connect: North Korea
Trustees Report for the Financial Year End 31 December 2021.
The Trustees present their annual report together with the financial statements of the CIO for the year 1 January 2021 to 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the CIO comply with the current statutory requirements, the requirements of the company's governing document, and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) as amended by Update Bulletin 1 (effective 1 January 2019).
Since the CIO qualifies as small under section 382, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Principal Office: 149 High Street, New Malden, Surrey, KT3 4BH.
Structure, Governance, and Management
Governing Document
Connect: North Korea is constituted as a Charitable Incorporated Organisation registered with the Charity Commission in January 2018 under registration number 1176563. The current constitution was adopted on January 7, 2018.
Organisational Structure
The board of trustees – which currently has 5 members – administers the charity. The trustees receive no financial remuneration for their involvement. The board meets on a quarterly basis and there are sub-committees covering fundraising, audit and risk, and communications which normally meet quarterly. A Chief Executive Officer and Director-Designate have been appointed by the trustees to manage the day-to- day operations of the charity. To facilitate effective operations, the Chief Executive Officer has delegated authority, within terms of delegation approved by the trustees, for operational matters including, finance, employment, and all community-based activities.
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Recruitment of Trustees
Existing trustees are responsible for recruiting new trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Any appointment must be made at a meeting held according to the ordinary practice of the Board of Trustees as outlined in the Constitution. Each appointment is for a term of three years. Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.
Trustee Induction and Training
In the first instance, approaches from those wishing to serve as a Trustee shall be made to the Chair. Following further discussion and consideration, prospective Trustees shall be invited to observe at least 1 Board meeting. Subsequently, if willing, the prospective Trustee shall make written representations to the Board, who will decide whether to co-opt the prospective Trustee as a full member of the Board, with all the rights and responsibilities that entails. All Trustees shall subsequently be elected at the next board meeting through a ballot of board members. The ballot shall be administered by the Secretary. Trustees standing for election shall be required to verbally present their reasons for wishing to be elected to the Board. In terms of size, the Board shall not exceed 12 Trustees, and shall seek to be a body which is diverse in terms of skills, experience and professional background. Trustees shall serve for a 3-year term, which may be extended.
To enable him/her to hit the ground running, new trustees must be provided with:
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The constitution (and any supporting guidelines or regulations);
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The last Annual Report (and any other explanatory leaflet, brochure or prospectus issued by the charity);
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The last audited accounts, the current Budget and the most recent (monthly or quarterly) Management Accounts;
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Copies of the last three Board Minutes and the Agenda for the next Board meeting (and a note of any future meeting dates);
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Any Code of Conduct or Board Policies in existence;
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Details of any Conflicts of Interest requirements;
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Details of the Committee and staff structures and reporting processes.
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The essential trustee: what you need to know, what you need to do (CC3)
Trustees are encouraged to attend appropriate external training events to improve their understanding of their role and to improve the skillsets of the board for more effective governance.
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Objectives and Activities
The objectives of the CIO are:
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1) To promote human rights (as set out in the Universal Declaration of Human Rights and subsequent United Nations conventions and declarations) in North Korea by all or any of the following means:
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monitoring abuses of human rights;
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educating the public about human rights;
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raising awareness of human rights issues; and
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promoting public support for human rights;
In furtherance of that object but not otherwise, the trustees shall have power
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To engage in political activity provided that the trustees are satisfied that the proposed activities will further the purposes of the charity to an extent justified by the resources committed and the activity is not the dominant means by which the charity carries out its objects.
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2) To advance the education and training of North Koreans granted refugee status and their dependents in need thereof so as to advance them in life and assist them to adapt within a new community.
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit. The trustees consider that the activities undertaken - as summarised below - provide benefit to the community we serve and the wider public.
Public awareness on human rights
The implications of the COVID pandemic made it clear that we needed to focus our work on community support for North Korean escapees wherever they are to help them build the new lives they deserve. As such, we are not undertaking any work on public awareness on human rights at this moment in time.
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Community Service Provision
Thanks to the substantial support from Kingston upon Thames London Borough Council, the National Lottery Community Fund, Leathersellers ' Company Charitable Fund, BME Health Forum/Comic Relief, Hillcote Foundation, Marsh Charitable Trust , Trust for London, Tudor Trust, CAST, and private donations, we have been able to grow our support for the North Korean refugee community this year.
Since the onset of the pandemic, our Community Outreach team have repeatedly highlighted how forced isolation, stress, fear, anxieties and uncertainty surrounding COVID-19 has triggered – and exacerbated – existing mental health conditions across the community.
Other day-to-day issues caused by low levels of English – accessing benefits, support for paying bills, GP appointments – exacerbate mental health and wellbeing problems caused in and when leaving North Korea.
In response to these new and existing problems, a new holistic and integrated intervention was needed in order to build the resilience, skills, and qualifications of the North Korean community to enable them to build new lives. In September 2021 – and after a long period of consultation – Connect: North Korea launched two out of three new programming streams (the third, Enabling Freedom Network, will formally begin in 2023):
1) Enabling Resilience
2) Enabling Freedom
Enabling Resilience is a holistic psycho-social community support programme for North Korean escapees. Enabling Resilience combines community outreach, youth support, mental health care, and advice, information, and guidance services to support North Korean escapees to build their resilience for overcoming the day-to-day barriers they have to building new lives.
This programme supports the step change needed to prepare to join Enabling Freedom and the Enabling Freedom Network.
In 2021, demand for day-to-day support through Enabling Resilience was exceptionally high. Demand was so high that we had to hire three additional Community Support Officers to keep up. Our community support team met, triaged, and supported over 100 North Korean escapees to build their resilience. From booking and attending medical appointments to support with banking services to identifying North Koreans needing help with their mental wellbeing and connecting them to our mental health team, our Community Support Officers have excelled in providing support to the North Korean community.
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Complex mental health problems developed from life in such an oppressive state, coupled with traumas from their experiences escaping the country, are also a significant barrier to North Korean escapees being able to move forward positively in their new lives. So they often arrive in a new country with mental health problems and support needs that further exacerbate their challenges.
As well as continuing to provide support for the wellbeing and resilience of the adults in the North Korean community, 2021 saw Connect: North Korea begin trials of support for the wellbeing of younger North Koreans.
Through ongoing consultations with the North Korean escapee community, we identified that younger North Koreans often had problems with their identity and often had miscommunication problems with their parents due to language differences. We provided 10 young North Koreans with group music therapy in order to express themselves freely and to resolve their conflicts with the above matters.
The final component of our work in 2021 for Enabling Resilience was the beginning of the development of a comprehensive overview of the support services available to North Korean escapees. Through this process, we are identifying support services, building partnerships, and creating an integrated and wider support network for all North Koreans.
Enabling Freedom
North Koreans leaving the country all face unique and significant economic, political, cultural and societal differences which are barriers to them building new lives. From language barriers to using ATMs to qualifications, there are many barriers to overcome for North Koreans to integrate and improve their circumstances.
The cultification of the Kim regime is so central to North Korean life that educational qualifications are geared towards serving the leadership rather than empowering North Korean people. These unusable qualifications ensure North Korean escapees struggle to find good jobs after finding freedom.
Language is also a barrier to finding freedom for North Korean escapees. In daily life, North Korean escapees often do not have the second language skills to be able to integrate, make friendships, access education or training, make informed choices about their lives and careers, and take their full place in society.
These barriers result in North Koreans being employed in low paid work with few opportunities to make the most of their new-found freedom.
In response to these challenges, we established Enabling Freedom. Enabling Freedom is focused on transforming the lives and prospects of North Korean escapees through an innovative training and education programme, which runs throughout the academic year.
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Connect: North Korea provides the holistic educational, well-being, and financial support needed for North Korean escapees to gain recognised vocational and professional qualifications and choose a career path that will enable them to transform their lives, support themselves and their families, work towards their dreams and potential, make the most of their new freedoms, and choose the lives they want to live.
Since launching in September 2021, Enabling Freedom has supported 8 escapees to improve their language skills, employment preparation, and qualifications.
Finally, as strong advocates that North Koreans themselves are best placed to understand the challenges they face and find the best solutions to overcome those problems, Enabling Freedom Network is a new programme launching in 2023 to support North Koreans in those endeavours.
This programme enhances the leadership and organisational management skills of key North Korean escapee change-makers – from lawyers to academics and from doctors to civil society and community leaders – enabling them to gain a university qualification from a leading university and participate in a leadership programme. They will then take those skills back to their communities to transform the lives of all North Korean escapees, enabling all escapees to build new, fulfilling lives, wherever they are in the world, with lasting impact for generations to come.
Towards the end of 2021, we started building relationships with NGOs and universities to begin the process of signing MOUs with partner institutions.
Achievements and Performance
Our major achievement in 2021 was the complete revisioning of our programming to create a greater impact for North Koreans around the world. To that end, we launched 2 new holistic support programmes designed to enable North Korean escapees to build the new lives they deserve: Enabling Resilience and Enabling Freedom.
These programmes launched in September and are in a pilot phase. We will add a third programme stream - Enabling Freedom Network - in 2023. Finally, our team grew again in 2022. We have added 6 new staff members this past year in communications, fundraising, community outreach, and programme management.
Future Activities
Our future activities will be guided by close evaluation of the impact of our two new programmes. The design and implementation of the third programme will be shaped by that process.
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Financial Review
Reserves Policy
The ultimate aim of our reserves policy is to maintain 3 months of unrestricted reserves to cover any changes in our income. Trustees felt that funds should be deployed to be able to grow the organisation, meaning we have no reserve at this moment. It is our goal to have at least 3 months of unrestricted reserves by the end of the next financial year – we are hiring a fundraising officer in 2021 to make this a reality.
Investment Policy
We have no investments. All cash is held within our CAF Bank account, which earns no interest. We will assess the possibility of investments and creating an investment strategy, policies, and procedures – if required – at the end of the next financial year.
Risk Management
The CIO ensures the highest standards of governance are maintained through its implementation of a robust risk management strategy, which entails:
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a Risk and audit committee which performs a quarterly review of the risks the charity may face and proposes mitigation strategies to the main board;
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an array of policies and procedures, with particular attention to financial policies and health and safety;
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the establishment of a governance checklist with key dates planned a year in advance; and
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the creation and quarterly update of a risk register.
The greatest risk to the organisation has been identified as a lack of funds to meet our obligations. In response, the fundraising subcommittee has developed a detailed fundraising strategy with appropriate funders – both institutional and private – identified and we have recruited a part-time Fundraising Officer to meet our financial objectives.
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Statement of Trustees’ Responsibilities
The CIO's trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees and directors in the period and at the report approval date were:
Robin Peter Walker (Chair)
Richard Moreton (Treasurer)
Jinhee Lee Margaret Ahn
Mitra Moadab Motlagh (Appointed: 12/04/2021)
Sultan Torshkhoev (resigned: 01/05/2021)
Jennifer Holroyd (resigned: 22/01/2022)
Mario Dunn (resigned: 22/01/2022)
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Statement as to Disclosure to our Independent Examiner
In so far as the trustees are aware at the time of approving our trustees’ annual report:
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there is no relevant information, being information needed by the independent examiner in connection with preparing their report, of which the organisation’s independent examiner is unaware, and
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the trustees, having made enquiries of fellow directors and the group’s independent examiner that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information and to establish that the examiner is aware of that information.
Approved by the Trustees and signed on its behalf:
Robin Peter Walker, Chair
Dated: 26/04/2022
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Independent Examiner's Report to the Trustees of Connect: North Korea CIO
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 14 to 24.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice affective for reporting periods beginning on or after 1 January 2019.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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 accounts to be reached.
This report is made solely to the Charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s 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 the Charity’s Trustees as a body, for my work or this report.
Samantha Rouse FCCA DChA
Kreston Reeves LLP Chartered Accountants 37 St Margarets Street Canterbury Kent CT1 2TU
Date 29/04/2022
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Connect: North Korea
Statement of Financial Activities for the period ended 31 December 2021
----- Start of picture text -----
Restricted Unrestricted Total Restricted Unrestricted Total
Funds Funds Funds Funds Funds Funds
Note
£ £ 2021 £ £ 2020
£ £
Income from:
Donations and
5 78,056 45,515 123,571 61,365 57,191 118,556
Grants
Investments - - - - - -
Other Income - - - - - -
Total Income 78,056 45,515 123,571 61,365 57,191 118,556
Expenditure on:
Raising Funds:
Voluntary 6 8,916 1,247 10,163 63 6,124 6,187
Income
Charitable
7 81,436 45,916 127,352 29,158 36,682 65,840
Activities:
Governance 8 - 1,520 1,520 - 800 800
Other
Charitable - - - - - -
Activities
Total Expenditure 90,352 48,683 139,035 29,221 43,606 72,827
Net Movement in
(12,296) (3,168) (15,464) 32,144 13,585 45,729
Funds
Total funds
39,994 19,176 59,170 7,850 5,591 13,441
brought forward
Total funds
27,698 16,008 43,706 39,994 19,176 59,170
carried forward
----- End of picture text -----
The notes on pages 16 to 24 form part of these financial statements.
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Connect: North Korea
Balance Sheet
As at 31 December 2021
----- Start of picture text -----
Note Restricted Unrestricted Total Restricted Unrestricted Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
2021 2020
Fixed Assets 9 - 2,990 2,990 - 966 966
Current Assets
10 - 1,680 1,680 - 8,329 8,329
Debtors
Cash at Bank and in
Hand 28,118 13,189 41,307 39,994 11,578 51,572
Current Assets
28,118 14,869 42987 39,994 19,907 59,901
CREDITORS: 11
amounts falling due (420) (1,851) (2,271) - (1,698) (1,698)
within one year
Net Current Assets
27,698 13,018 40,716 39,994 18,210 58,204
Net Assets
27,698 16,008 43,706 39,994 19,176 59,170
12&13
Total Funds 27,698 16,008 43,706 39,994 19,176 59,170
----- End of picture text -----
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Robin Peter Walker, Chair Date: 26/04/2022
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Notes to the Financial Statements
The registered address for the CIO is: Connect: North Korea, 149 High Street, New Malden, Surrey, KT3 4BH, United Kingdom
Registered as a Charitable Incorporated Organisation in England on 08 January 2018. These accounts cover the period 01 January 2021 to 31 December 2021.
1. Accounting policies
The principal accounting policies are summarised below.
1.11 Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The preparation of financial statements in compliance with FRS 102 requires certain critical accounting estimates. It also requires management to exercise judgement in applying the CIO’s accounting policies (see note 3).
The financial statements have been prepared on the historical cost basis and are presented in Sterling (£). The accounts are rounded to the nearest pound.
Connect: North Korea meets the definition of a public benefit entity under FRS 102.
1.12 Organisational status
Connect: North Korea is a Charitable Incorporated Organisation. The members of the company are the Trustees named on page 1. In the event of the CIO being wound up, the liability in respect of the guarantee is limited to £1 per member of the CIO.
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1.13 Income
All income is recognised once the CIO has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.
In accordance with the Charities SORP (FRS 102), the general volunteer time of the volunteers is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the CIO which is the amount the CIO would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.14 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Governance costs are those incurred in connection with administration of the CIO and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the CIO’s operations, including support costs and costs relating to the governance of the CIO apportioned to charitable activities.
1.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
1.16 Value Added Tax
The CIO is not registered for VAT and accordingly, where applicable, all costs and expenditures incurred are inclusive of VAT.
1.17 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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1.18 Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.19 Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
1.20 Assets
Assets are recognised when there is a legal and constructive right to the asset.
1.21 Tangible Fixed Assets and Depreciation
Tangible fixed assets are capitalised at cost where their acquisition value is greater than £100 and are stated at cost net of depreciation.
Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rates generally applicable are:
Fixtures, fittings and kitchen/office equipment over 2 years, on a straight-line basis Computer equipment and software over 5 years, on a straight-line basis.
1.22 Value Added Tax
The CIO is not registered for VAT and accordingly, where applicable, all costs and expenditures incurred are inclusive of VAT.
2. Remuneration of trustees and key management personnel
No trustees received remuneration for their services to the company in the period (2020: £nil).
No trustees received benefits-in-kind for their services to the company in the period (2020: £nil). No trustees received re-imbursement of their expenses from the company in the period (2020: £nil).
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3. Staff numbers and costs
The charity had 1 full-time employees in 2021 (2020: 0). We have hired new staff members towards the end of the year. The costs were as follows:
| Wages and Salaries including Donations in Kind Salaries Employer’s National Insurance Pension costs Salaries and pension costs Full time employees Costs of generating funds Charitable activities Total |
2021 2020 £ £ 30,660 1,766 351 - 265 59 |
|---|---|
| 31,276 1,825 |
|
| 2021 Number 2020 Number - - 1 - |
|
| 1 - |
No employee received remuneration amounting to more than £60,000 for the year.
4. Tax on ordinary activities
Connect: North Korea is a registered CIO and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
5. Donations & Grants
| Donations Grants Gift Aid Donated services Totals |
Restricted 2021 £ Unrestricted 2021 £ Total 2021 £ Total 2020 £ - 8,075 8,075 13,841 78,056 29,526 107,582 79,715 - 540 540 - - 7,374 7,374 25,000 |
|---|---|
| 78,056 45,515 123,571 118,556 |
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6. Cost of Raising Funds
| Fundraising costs Bank fees Totals |
Restricted 2021 £ Unrestricted 2021 £ Total 2021 £ Total 2020 £ 8,916 1,084 10,000 6,063 - 163 163 124 |
|---|---|
| 8,916 1,247 10,163 6,187 |
7. Charitable Activities
| Scholarships Advertising Consultants Depreciation IT expenses Donated services Rent Postage & freight Insurance Printing Salaries Employer’s National Insurance Pension costs Staff Training Light & power Repairs & maintenance Telephone & internet General expenses Management fees Totals |
Restricted 2021 £ Unrestricted 2021 £ Total 2021 £ Total 2020 £ - 6,421 6,421 - 1,414 1,348 2,762 - 41,989 6,186 48,175 10,140 - 1,344 1,344 350 517 797 1,314 747 - 7,374 7,374 25,000 999 4,002 5,001 3,996 - 5 5 220 - 385 385 432 - 119 119 - 24,827 5,833 30,660 1,766 305 46 351 - 193 72 265 59 848 625 1,473 - - 154 154 142 - - - - 294 204 498 304 50 1,001 1,051 7,796 10,000 10,000 20,000 14,888 |
|---|---|
| 81,436 45,916 127,352 65,840 |
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8. Governance Costs
| Audit & accountancy Totals |
Restricted 2021 £ Unrestricted 2021 £ Total 2021 £ Total 2020 £ - 1,520 800 800 |
|---|---|
| - 1,520 800 800 |
The Independent examiner's remuneration is included in the audit and accounting
costs listed above and total £750.
9. Fixed Assets
| Cost At 1 January 2021 Additions At 31 December 2021 Depreciation At 1 January 2021 Charge for year At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 ebtors Prepayments Other debtors Total debtors |
Restricted £ - - |
Office Equipment £ 2021 £ 2020 £ 2,249 2,249 1,950 3,368 3,368 299 |
|---|---|---|
| 5,617 5,617 2,249 |
||
| 1,283 1,283 933 1,344 1,344 350 |
||
| 2,627 2,627 1,283 |
||
| 2,990 2,990 966 |
||
| 966 966 1,017 |
||
| Unrestricted £ 2021 £ 2020 £ 1,680 1,680 - - - 8.329 |
||
| - | 1,680 1,680 8,329 |
10. Debtors
11. Creditors
| Trade creditors Social security and other taxes Other creditors Accruals Total creditors |
Restricted £ Unrestricted £ 2021 £ 2020 £ 420 4 424 1,004 - 1,127 1,127 94 - - - - - 720 720 600 |
|---|---|
| 420 1,851 2,271 1,698 |
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12. Fund movements summary
| At 1 January 2021 Incoming resources Expenditure At 31 December 2021 At 1 January 2020 Incoming resources Expenditure At 31 December 2020 |
Restricted funds £ Unrestricted funds £ Total funds £ 39,994 19,176 59,170 78,056 45,515 123,571 (90,352) (48,683) (139,035) |
|---|---|
| 27,698 16,008 43,706 |
|
| Restricted funds £ Unrestricted funds £ Total funds £ 7,850 5,591 13,441 61,365 57,191 118,556 (29,221) (43,605) (72,827) |
|
| 39,994 19,176 59,170 |
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13. Restricted funds
| Community Centre ER, Community Support Cross-Activity Support 1 Cross-Activity Support 2 Communications and Fundraising Lived Experience English 1-on-1 EF, ESOL ER, Mental Health Totals Advice Community Aid Community Centre ER, Community Support Cross-Activity Support 1 Cross-Activity Support 2 Communications and Fundraising Lived Experience English 1-on-1 EF, ESOL ER, Mental Health Totals |
Balance at 1 January 2021 Incoming Outgoing Balance at 31 December 2021 £ £ £ £ 1,500 - - 1,500 5,985 32,925 (25,488) 13,422 7,425 - (7,425) - 6,345 - (6,345) - 17,800 16,994 (30,457) 4,337 - 28,057 (20,157) 7,900 84 - - 84 855 - (400) 455 - 80 (80) - |
|---|---|
| 39,994 78,056 (90,352) 27,698 |
|
| Balance at 1 January 2020 Incoming Outgoing Balance at 31 December 2020 £ £ £ £ - 500 (500) - - 5,500 (5,500) - - 1,500 - 1,500 - 8,860 (2,875) 5,985 - 10,000 (2,575) 7,425 - 10,000 (3,655) 6,345 - 23,000 (5,200) 17,800 - - - - 7,850 - (7,766) 84 - 2,005 (1,150) 855 - - - - |
|
| 7,850 61,365 (29,221) 39,994 |
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13. Restricted funds (continued)
| Fund | Purpose |
|---|---|
| Community Support | Funds were received to support community |
| outreach and advice. | |
| Community Centre | Funds were received to support the purchase |
| of equipment for the organisation. | |
| Cross-Activity Support 1 | Funds were received to support multiple |
| different activities, including mental health | |
| and community advice. | |
| Cross-Activity Support 2 | Funds were received to support multiple |
| different activities, including mental health | |
| and community advice. | |
| Communications and Fundraising | Capacity-building funds were received to |
| support our fundraising and communications. | |
| Lived Experience | Funds were received to support lived |
| experience within the organisation. | |
| English 1-on-1 | Funds were received to support 1-on-1 |
| tutoring for North Korean refugees. | |
| ER, ESOL | This fund is for funds received to support the |
| ESOL component of our Enabling Freedom | |
| Programme. | |
| ER, Mental Health | This fund is for funds received to support the |
| Mental Health component of our Enabling | |
| Resilience Programme. |
14. Related party transactions
Connect: North Korea CIO of which all serving Trustees are also Trustees of Korea Future Initiative CIO has provided loans during the period of £35,000 (2020: £42,663) to Korea Future Initiative CIO, the balance due to the Charity at the 31 December 2021 was £nil (2020: £8,329).
The Charity has received management services from Korea Future Initiative CIO of £20,000 (2020: £14,888) which were paid during the period.
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