Sheffield Korean Church
Trustees’ report and financial statements for the year ended 31 December 2024
Charity number: 1180549
Structure, governance and management
Sheffield Korean Church is a registered charity and is governed by its own constitution. The operational management of the organisation’s day to day activities are delegated to trustees.
Objectives and activities
The main object of the Company is:
To advance the Christianity religion in UK for the benefit of the public through the holding of prayer meeting, lectures, Worship and public celebration of religious festivals producing and distributing literature on Christianity to enlighten others about the Christianity.
Achievements and performance
The Charity has performed fairly well collecting £21696 during the year ended 31 Dec 2024. The charity organises Sunday worship services and emphasis was laid on increasing monthly donations and controlling costs.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. 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.
On behalf of the Trustees
박정현
Jung Hyun Park
Trustee
2024 Annual Summary
SHeFFIELD KOREAN CHURCH 2024 ACCOUNT Income
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Category January February March April May June July August September October November December 2024 Total Income 024 Income Budg% Total Income/Income Budget
Weekly regular collections 281.75 59.20 79.20 79.00 49.50 102.00 75.00 72.00 179.10 62.00 95.00 117.50 1,251.25 3,000.00 42%
Tithe 735.00 435.00 1,355.00 405.00 1,175.00 1,125.00 1,825.00 535.00 775.00 475.00 725.00 725.00 10,290.00 15,000.00 69%
Thank offering 851.00 869.00 743.00 482.00 802.00 820.26 1,075.00 530.00 1,375.50 565.00 842.00 590.00 9,544.76 6,000.00 159%
Mission offering - - - - - - - - - - - - - 500.00 0%
Collection for flowers - - - - - - - - - - - - - - 0%
New year - - - - - - - - - - - - - 150.00 0%
Easter - - 227.00 - - - - - - - - - 227.00 150.00 151%
Feast of Harvest - - - - - - - - - - - - - 150.00 0%
Thanksgiving - - - - - - - - 110.00 - - - 110.00 150.00 73%
Christmas - - - - - - - - - - - 273.00 273.00 150.00 182%
Bazaar - - - - - - - - - - - - - - 0%
Interst - - - - - - - - - - - - - - 0%
Others 1,500.00 - 9,692.92 - - - - 28.36 - - - 1.97 11,223.25 - 0%
Total 3,367.75 1,363.20 12,097.12 966.00 2,026.50 2,047.26 2,975.00 1,165.36 2,439.60 1,102.00 1,662.00 1,707.47 32,919.26 25,250.00 130%
Including the carried over from 2023 33,673.49 26,004.23 129%
Excluding other incomes and carried over 21,696.01 25,250.00 86%
Expense
Salary
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Bu % Total Income/Income Budget
Salary for pastor 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 900.00 10,800.00 10,800.00 100%
Service
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Lecture fee - - - - - - - - - - - - - 200.00 0%
Flower decoration - - - - - - - - - - - - - - 0%
Sacraments preparation - - - - - - - - - - - - - - 0%
Ainnos team - - - - - - - - 48.25 - - - 48.25 100.00 48%
Translation team - - - - - - - - - - - - - - 0%
Education/Training
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Sunday school - - - - 134.51 - 51.96 - - - 7.50 - 193.97 500.00 39%
Youth - - - - - - - - - - - - - 100.00 0%
Young adults - 68.00 - 173.49 - 102.86 - - - 98.35 34.59 45.87 523.16 500.00 105%
Training for baptists - - - - - - - - 29.92 - - - 29.92 - 0%
Training for new comer - - - - - - - - - - - - - - 0%
One-to-one discipleship training - 54.53 - 46.96 - 73.68 21.77 - - - 41.17 66.84 304.95 200.00 152%
Seminar for teachers - - - - - - - - - - - - - - 0%
Retreat
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Transportation - - - 252.12 - - - - - - - - 252.12 500.00 50%
Accomodation - - - - - - - - - - - - - - 0%
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Missionary works
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Missionary expenses - - - - - - - - 150.00 - 450.57 43.84 644.41 - 0%
Relief expenses - - - - - - - - - - - - - - 0%
Events
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Church seasonal events - - - - - - - - - - - - - 100.00 0%
General events - - - - - - - - - 242.57 - - 242.57 100.00 243%
Church anniversary - - - - - - - - - - - - - 100.00 0%
General management
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Rent fee 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 2,880.00 2,880.00 100%
Consumable supplies/equipment - - - - - - - - - - - - - 200.00 0%
General management 8.51 6.57 6.44 5.00 7.66 8.38 79.31 5.00 157.80 6.66 5.81 22.39 319.53 300.00 107%
Cluster meeting - - - - - - - - - - - - - - 0%
Church committee - - - - - - - - - - - - - - 0%
Socials
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Condolence/congratulations/othe - 10.00 - - - 100.00 - - 6.00 - - - 116.00 100.00 116%
Others
Category January February March April May June July August September October November December 2024 Total Expense 2 Expenditure Buotal Expenditure/Expenditure Budget
Evangelical Holiness Church memb - - 150.00 - - - - - - - - - 150.00 150.00 100%
Korean-UK church membership fee - - 100.00 - - - - - - - - - 100.00 100.00 100%
Holiday bonus for pastor - - - - - 500.00 - - - - - - 500.00 500.00 100%
Rent support for paster 430.00 430.00 430.00 430.00 430.00 430.00 430.00 430.00 430.00 430.00 430.00 430.00 5,160.00 5,160.00 100%
Car allowance 546.61 100.00 100.00 100.00 100.00 485.00 100.00 148.92 100.00 100.00 100.00 100.00 2,080.53 1,200.00 173%
Reserve for retirement allowance 90.00 90.00 5,060.00 90.00 90.00 90.00 90.00 90.00 90.00 90.00 90.00 90.00 6,050.00 1,080.00 560%
Church insurance - - - - - - - - - - - 35.28 35.28 100.00 35%
Accountant fee - - - - - - - - - - 1,200.00 - 1,200.00 - 200%
Money in reserve - - - - - - - - - - - - - 1,034.23 0%
Total imcome and expense
Category carried over fro January February March April May June July August September October November December Total Budget % Total/Budget
Monthly income 754.23 3,367.75 1,363.20 12,097.12 966.00 2,026.50 2,047.26 2,975.00 1,165.36 2,439.60 1,102.00 1,662.00 1,707.47 33,673.49 26,004.23 129%
Monthly expense 2,215.12 1,899.10 6,986.44 2,237.57 1,902.17 2,929.92 1,913.04 1,813.92 2,151.97 2,107.58 3,499.64 1,974.22 31,630.69 26,004.23 122%
Total excluding the carried over from the previous year (2022) 32,919.26 25,250.00 130%
Tax return and retirement allowance carried over 1,500.00 - 9,692.92 - - - - 28.36 - - - 1.97
Monthly income excluding other incomes 1,867.75 1,363.20 2,404.20 966.00 2,026.50 2,047.26 2,975.00 1,137.00 2,439.60 1,102.00 1,662.00 1,705.50 21,696.01 25,250.00 86%
Expenditure excluding retirement allowance paybac 2,215.12 1,899.10 2,016.44 2,237.57 1,902.17 2,929.92 1,913.04 1,813.92 2,151.97 2,107.58 3,499.64 1,974.22 26,660.69 26,004.23 103%
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