REGISTERED CHARITY NUMBER: 1180730
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
GIL MISSION
Lee & Capital Partners Ltd Chartered Certified Accountants 30 Groveland Way New Malden Surrey KT3 5BT
GIL MISSION
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
GIL MISSION
Report of the Trustees
for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims, and principal activities
The objective and principal activity of the charity is the advancement of the Christian religion, for the public benefit, through faith-based activities, including congregations, cell groups, youth development, Day school, and other charitable activities.
Statement of Public benefit
The Board of Trustees confirm that they have complied with their duty to have due regard to the guidance on the public benefit published by the Charity Commission in exercising their powers or duties.
FINANCIAL REVIEW
Financial Position and Reserves Policy
Total income received for the year amounted to £8,757 (2023: £12,350), which is the total incoming resource.
Total expenditure amounted to £13,256 (2023:£15,016) that left net outgoing resources for the period of -£4,499 (2023:-£2,666-net outgoing).
The trustee applied and shall continue to apply accumulations of income to charitable causes after making such provision for all expenditure on trust.
Going Concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 16 November 2018.
Related parties
The charity has considered the disclosure requirements of the SORP for the related party relationships. The charity has no related party connections with other organizations. The trustees consider that the members of the board and their close connections to the only related parties of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1180730
Principal address
60 High Street New Malden Surrey KT3 4EZ
Trustees
Ms E Choi Ms H Hwang Ms J Lee
Independent Examiner
Byunghun Lee Lee & Capital Partners Ltd Chartered Certified Accountants 30 Groveland Way New Malden Surrey KT3 5BT
Page 1
GIL MISSION
Report of the Trustees
for the Year Ended 31 December 2024
Approved by order of the board of trustees on 28 January 2026 and signed on its behalf by:
Ms H Hwang - Trustee
Page 2
Independent Examiner's Report to the Trustees of GIL MISSION
Independent examiner's report to the trustees of GIL MISSION
I report to the charity trustees on my examination of the accounts of GIL MISSION (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Byunghun Lee
Lee & Capital Partners Ltd Chartered Certified Accountants 30 Groveland Way New Malden Surrey KT3 5BT
28 January 2026
Page 3
GIL MISSION
Statement of Financial Activities for the Year Ended 31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 8,757 | 11,990 | |
| Other trading activities | 2 | - | 360 |
| Total | 8,757 | 12,350 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable activities | 13,256 | 15,016 | |
| NET INCOME/(EXPENDITURE) | (4,499) | (2,666) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 4,785 | 7,451 | |
| TOTAL FUNDS CARRIED FORWARD | 286 | 4,785 |
The notes form part of these financial statements
Page 4
GIL MISSION
Balance Sheet
31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 1,794 | 2,242 |
| CURRENT ASSETS | |||
| Cash at bank | 231 | 3,893 | |
| CREDITORS | |||
| Amounts falling due within one year | 6 | (1,739) | (1,350) |
| NET CURRENT ASSETS | (1,508) | 2,543 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 286 | 4,785 | |
| NET ASSETS | 286 | 4,785 | |
| FUNDS | 7 | ||
| Unrestricted funds | 286 | 4,785 | |
| TOTAL FUNDS | 286 | 4,785 |
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2026 and were signed on its behalf by:
J Lee - Trustee
The notes form part of these financial statements
Page 5
GIL MISSION
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
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 constructive obligation committing the charity to that expenditure, it is probable 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 cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery: 20% on reducing balance basis Fixtures & fittings : 20% on reducing balance basis
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Tuition fees | - | 360 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Page 6
continued...
GIL MISSION
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||||
|---|---|---|---|---|---|
| fund | |||||
| £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 11,990 | ||||
| Other trading activities | 360 | ||||
| Total | 12,350 | ||||
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Charitable activities | 15,016 | ||||
| NET INCOME/(EXPENDITURE) | (2,666) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 7,451 | ||||
| TOTAL FUNDS CARRIED FORWARD | 4,785 | ||||
| 5. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| Plant and | and | ||||
| machinery | fittings | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 January 2024 and 31 December 2024 | 2,737 | 765 | 3,502 | ||
| DEPRECIATION | |||||
| At 1 January 2024 | 985 | 275 | 1,260 | ||
| Charge for year | 350 | 98 | 448 | ||
| At 31 December 2024 | 1,335 | 373 | 1,708 | ||
| NET BOOK VALUE | |||||
| At 31 December 2024 | 1,402 | 392 | 1,794 | ||
| At 31 December 2023 | 1,752 | 490 | 2,242 |
continued...
Page 7
GIL MISSION
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Other creditors | 1,739 | 1,350 | ||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,785 | (4,499) | 286 | |
| TOTAL FUNDS | 4,785 | (4,499) | 286 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 8,757 | (13,256) | (4,499) | |
| TOTAL FUNDS | 8,757 | (13,256) | (4,499) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 7,451 | (2,666) | 4,785 | |
| TOTAL FUNDS | 7,451 | (2,666) | 4,785 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 12,350 | (15,016) | (2,666) | |
| TOTAL FUNDS | 12,350 | (15,016) | (2,666) |
continued...
Page 8
GIL MISSION
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 7,451 | (7,165) | 286 |
| TOTAL FUNDS | 7,451 | (7,165) | 286 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 21,107 | (28,272) | (7,165) |
| TOTAL FUNDS | 21,107 | (28,272) | (7,165) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 9
GIL MISSION
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |
||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 8,757 | 11,990 |
| Other trading activities | ||
| Tuition fees | - | 360 |
| Total incoming resources | 8,757 | 12,350 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | - | 210 |
| Rent, rates and water | 10,710 | 10,800 |
| Mission support | 284 | 1,145 |
| Education materials | 757 | 743 |
| Printing, post and stationery | 326 | 633 |
| Charitable event | - | 250 |
| Sundries | - | 225 |
| Travel | 115 | - |
| Entertainment | 202 | - |
| Plant and machinery | 350 | 438 |
| Fixtures and fittings | 98 | 122 |
| 12,842 | 14,566 | |
| Support costs | ||
| Finance | ||
| Bank charges | 24 | - |
| Governance costs | ||
| Accountancy and legal fees | 390 | 450 |
| Total resources expended | 13,256 | 15,016 |
| Net expenditure | (4,499) | (2,666) |
This page does not form part of the statutory financial statements
Page 10