EMMANUEIL CITY CHURCH (fornierly EMMANUEL CHINESE CFIURCH) (Charitable Incoryorated Organisation) FINANCIAL STATEMENTS for the year ended 31 December 2023 Registered Chsrfty No: 1183070
EMMANUEL CITY CHURCH (formerly EMMANUEL CHINESE CHURCHI FINANCIAL STATEMEN13 for the year ended 31 Decem1 2023 CONTENTS Pages Reporl of th¢ Trustees Independent Examiner's Report Statement ol'Finoncial Aciiviiies Balance Sheet Nolcs lo the Accounts 10-14
EMMANUEL CITY CHURCH (rormerly EMMANUEL CHINESE CHURCH) REI PORT OF Tltb TRUSTELS for the year ended 31 December 2023 The Irusiees pi'esenL their report together with the financial slaiemenis foi. the year ended 3 l December 2021. The financial stateinents huve been prepared in a¢cordance with tlie accounting poliLiC6 Sei out on pages 10 and I I, and comply with ihe irusi deed, applicable law and the Siaiemcnt of R¢¢oniinendLd Praciice "Accountin8 and Rcport1118 by Ch¥iriti¢s" REFERENCE AND ADMINISTRATIVF DETAII LegAI status The church wos gr8nled regISted chariiy &ta¢u.s on 17 July 2007. Until 30 June 2019, lis operations were ¥ovcrncd by lis Irusi deed Adopled on 71 M&y 2tM)7 lus amended on 5 Dec¢mbcr 2011). lis regisiered number was 1120103. On l July 2019 rtll assets and liabilities of lh¢ Church as previously ¢onstituted were Iran.sferred at book valuo ¢0 Chariiahlo In¢orporated Organisation (CIO) IEgislered on 23 April 2019 under registered numb¢r 1183070. Change of name On 22 Nov¢mber 2022 the ¢hurch chang¢d its name io EmmAnuel City Chui'ch, Trnstees And leadershlp team Th¢ fDllowing Irustees served during ihe y¢ar and up to ihc dat¢ of (his report.. Chuirman.. Tr¢'a8urer'. S¢¢retory'. Trust¢e'. Chiin Kwai Fong Ireappoittied 23 April 20231 Mun Yee Yau Jimmy 14on Chung Kan Fuk Keung Kong (retired 5 Januury 2024) The lead¢rship team members are.. Pastor Yu¢n Kwan Sung (Senior Pastor) Pasior Jonathan Yun Wing Sung Pslor Chee Kcung Chcon8 Pasiur Pui Yee Fong DL*acon Yau Leun8 Hung Deaconess Chan Yuet Yee Dea¢one55 Choi Lin Ts¢n RegistOTed addrebsi church office, and Sumjay worship venue Centenary Hall. Co¢tington Sireel, Kcnnington, London, SEI 14RZ Independent Examiner of accounts Andrew J Geary, Geary Partnership, Chartered Accountants, 159A Chase Side, Enfield, Middlesex, EN2 OPW IlanlKer8 Barclays Bank plc, 2 Victoria.8treet, Westmins(er, London, SWIH OND HSBC Bank plc, 28 Borough High Street, Southw41'k, London, SEI IYB
EMLWLINUEL CITY CHURCH (formerly EMMANUEL CHINESE CHURCH) REPORT OF THE TRUSTEES, conllnued for the year ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT The eliurch is L regis(ered cliarily. Until 30 June 2019, its operations were gvverned by its trust dccd adopted on 11 May 2007 (as ainend¢d on 5 D¢cember 2013}. Its rcgistered numb¢i' was 1120103. Since l July 2019 the church has operate(l As a Chariiabl¢ InLurpoTated Organisation under a constitution dpproved On 21 Api'il 2019. Its IEgistercd ymbei. is I188J70. The church changed its naine fiDm Bmmanuel Chinese Church to Emmanuel City Church on 22 November 2022. The trusLr¢g are responsible for the managemeni kiid adI1n1stra110n of the church's property and funds. The tru.stees ot the chui'ch are appoinied by the spiritual leerShIp (eam. The term of office of every truste¢ is three years and they may be i'e-appoinled for Iiiriher ierrn5 of ole¢. The irustee i¢&m sets and rcvi¢ws 5t&ff salaries. The u'uslce ieam htslds regular m¢etings througlioui th¢ year to review oll a$pects of the church's activi11. Th¢ trusiee loain is awaTC Df ILS To8ponsibililie.% for risk asses5mcnts and is developing plYedUres for ¢valuaLing th¢ risk8 iISSOCjÉlled with Ihe churcl) opcrating plan activiti&%, and also revi¢wing Annually all insuraJicc8 und general sAf¢iy, us well as thts Icrms and ¢ondition.% cmploj'mcnt of Sluff. 'I'h¢ inienlion is io develop u comprtth¢nsive risk ossc%%in¢nL policy wliich will cnsurL' Ihai all impui'itlnl risks arL ¢V1c luuted Iliat dppropriai¢ a¢lion can iaken to mili¥ale thLse I'i%ks whLr¢ nccc5sury. Tlie Irusicc t¥uin hus esiablislicd proLeduro% for 8afeguarding. All tru,%leLs and $ial.'f arc rcouircd to bc DBS (CRB) cli¢¢ked. Thc Iriislee tocim lias also o%iabli8h¢d proLe(ltsr¢% for Gcn¢i'al Dai ProieL'iion Regulatiott IGDPR). The staff llm and church lead¢rs m¢ci re8ularly for pray¢r and implembntaiion of the vision of the Church. Th¢ Spiritunl l¢adership ¢am is responsible for setting the v15ion, v41ue5 and dI[l10n of the church. The teAm consists of the S¢nioi' Pastor, who is the Lhairman, the dea¢ons and paSrts of (he ¢l)urch. The Senior Pastor and his slalf team are rÈsponsibl¢ for the day-io-day opcrations of Ili¢ chureh. Pot¢ntiul tru%Lees will undergo IrAining and will be initially invited to be an observer in the trustee Inegting as part of Iheir training. Thc spirituul leadership ieam will dccidc his or hei. suitabiliiy to servo in the trusiee le4m. N¢w truslees kre provid¢d with a Iwstce welcome puck with ifttorrnaiion of the church &nd the trustee role in r¢lalion to governance and their respon5ibiliii¥s undci. charity law. Apart fmm the (rust¢es and spiritual leadership team, th¢ ¢hurch has three full time siaff and on¢ part-tim¢ staff. The 8cnior Pastoi. together with the pustorul ieom providcs the pL%toral care, visitation of churcli Inembers, preaching, teaching, as well as the training of leuders. OIIJEcfivKs AND ACTIVITIES Objective5 The objo¢tive5 of the Church are,. to advan¢e the Christian faith in accordance with thc statement of beliefs in such ways and in sh parts of the United Kingdom or the world as the tru6tees from time to time may think fit:
4MMANtIEL CITY CHURCH (formerly EMMANUEL CHINESE CHURCH) REPORT OF THE TRUSTEES, continued for the year ended 31 December 2023 OBJEI CTIVES AND ACTIVITIESJ ¢ontinued ObjectAves, continued LO relieve sickness at finan¢ial hardship and to promote and preserve good hcalth by the pr(Trvision of funds. goods or servi¢es ol. any kind, tjicluding the provisTOli of Lounselling and suppoit itt such parts vf the Unii¢d Kingdom or the 'Norld as the trusi¢¢s from time lo time may Ihink fit; to fulfil Such other purF(Tr.$es which are exclusively charitablc acLording to tjie 14w of England ftnd Wal$ and are cannLCted with the charitable work of ihe trust in sucli a way and in sueh part of th¢ Unilcd Kingd(Im or thc world as the truste¢$ from time to lime may think fIl. Prln¢lpAI Retlvity The principal k¢tiviiy of the church is to share the Christian faith for ihe benefii of thc public. Chur¢h servie¢s ore hcld at Ccntenary Hall, Cottin8ton Sireot, Kennington, London, SEI 14RZ. Vlslon stAtement Emmanuel City Chur¢li is fin apostolic, ccll-bascd ¢hurcli, commild to ob¢yin8 Ili¥ Grcai CominandmcnL Thnd lulfilling ihc Great Commis%ion by Inoiivating, e4iiippiiig and Cmpowcring ¢very mtsmbbr to bb an ¢fieciivc Tninistcr of Jesus Christ. Siatenwnt on public beneflt In dccidins what a¢liviiies lh¢ church Bhould undertak¢ during the year. the (rustECS have paid due reul¥l lo Thc Charity Comjnission's guid4n¢e L7n public benefii. Thc tl'USLee8 consider that Lhc objccis for which th# Lhuirh wa8 r¢sISred os a charity* and th¢ activit1¢5 during the year &$ described below, are ttsr the public benefit. ACHIEVEMENTS AND PERFORMANCE Community As part OF fuifillirtg our lo sery¢ the community, Ihe chuirli ai Centenwy Hall, Coltingion Street, London, SEI 4RZ 1.% opened 10 Ihe gcneral public (I'om Tuesday to Friday, I lam to 3pm as a walk-in c¢ntre. The church 4180 provides a place for people to r¢ceiwe praycrs. At another level (Jt impact. the church is part of a network of ehurchcs in the community. Our pastors rneet wilh other pastors in the areu foi. prnyer and fellowship onc¢ a month. One of (he achievemenls in 2023 WAS a joini Combined Christmas carol service in DeLember with Saint Ansclm Church. Chureh 2023 vlsion/emphas1$ The chur¢h together with the Senior Pa$tor set out prayer os the main vision for 202.3 with lh¢ emphasis on the imporlancb of seeking God in pl'ayer. Church buildingrefurbuhm¢iit The work of replacing ihe roof o( Ihe ehurch building was staried in January 2023 and completed in Augusi 2023. Iniernally, the church hall was soU]prO0fed at the sam¢ time.
EMMANUEI. CITY CHURCH (formerly EMMANUEL CHINESE CHURCH) REPORT OF THE TRUSTEES, conlinued for the year ended 31 December 2023 ACHIEVEMENTS AND PERFORMANCE, colltlnued Churchy ¢ontinued Church meetings All ehurch even15 and servi¢¢$, including Sunday services, monthly prayer meeiings, Bible classes and orher special me¢Ling$ were held in the ¢hurch premises. OUI. regular Sunday servi¢e5 which ¢ompris¢ three congr¢gations a(LracL upproximately 160 people every Sunday. There has be¢n an incr¢asc of new people in attendance in all three congregations since we muw¢d lo Kenninglon. Our liealing serviee$ are also well attend¢d with chuwh memb¢rs inviting Lh¢ir family and friends. Numerous healing ¥crvices wor¢ conducted wilh poople experiencing God in extraordinary ways. Thc pastors have condu¢tcd various Biblc sludies to help strgngihen th¢ members, spiritual 8rowih. Among some of Ili¢ iopics ¢over¢d wer¢ Discovering the New Teslameiit, Ihe Bocik of A¢'ts, fiasics on Preachiiig ttn(t otliers. Aside from Bible study, Ihe ehurch coiiducis player meetings every first Friday of Ihe Inonih fi'om 7-8pin. Tlie Senior Pastor's wif¢ helped io (rain the Sunday School iea¢heri and L¢ens mini.%try leaders. Ther¢ wa5 a150 an incrcas¢ in Ihe children's Sunday School uti¢ndthnLe wliich i& hcld 4imuliane¢Trusly every Sundoy during the adult s¥i'vi¢¢s, A monthly Sunday youth meeting was started in April 2023. Oih¢r cliurch a¢tivilies As parl of the church vison LO me¢1 and celebraie different members, growth Jnd needs, th¢ church has conducied th¢ following activities. Firstly, o 40#Y Fastin8 and Prayer was conducted from February to March. Secondly, there was the Easter Conlcreneo in R¢ading with 121 people iji attendance. And lasily, a water baptism service, whcre 10 peaple were baptized. Ther¢ was a (ulal of 18 new converts in 2023. Meanwhile in Septernbcr, there were four baby dediclltions and o house blessing. Durin8 the sjine period many ¢huirh members went oul to sh&re the gospel with the local cotnjnunity in Elephant and Casile and Chinaivwn ui'eas. All thes¢ ministries and activities were made possible with the help of 35-40 volunteers from th¢ ¢ongregation. TheiL' involvemeni in ttll ihe church events and acliviLi¢s is commendable. We have two other vtslunlcers whu Lomo in weekly lo help the S¢nior PHsior with Lhe offi¢e and building work. Leadership development The Sertior Postoi. Menr5 k¢y leaders regularly artd provides training through leadership cour5os. Key lead¢r$ are invited 10 aiiend weekly leadei%' meelings hcld every Tuesday in ¢hur¢h. A leadership day was ¢Trr¥anised 10 inspirc llnd irain uboui 40 leaders in September 2023, Tyaining new Chrisilans In training new believers 10 grow and become mature in faith, th¢ church conducts variou5 Bible courses (hrou8hout the year.
EMMANL UEL crry CHURCH
(fornierly EMMANUEL CHINESE CHURCH)
PORT OF THE TRUSTFES, continued
for the year ended
31 Deeember 2023
ACHIEVEMENTS AND PERFORMANCE, continued
Church conneet groups
The Church connect groups meet al members, home3 cvery week and ar¢ for the purposo ol. building relationships,
evanbTelisJn and spii'iiual formaLion. Connect groups air essential for church growth and Christian maturity. We have
12 connect group$ in diffttrcnt parts gf the London
EMMANUEI. CITY CHURCH (fornlerly EMMANUEL CHINESE CHURCH) REPORT OF THE TRUSTEES, continued for the year ended 31 December 2023 RESPONSIBILITIES OF THE TRUSTEES ThL tru.8tees aiL rc%pi)nsiblL for PT¥PaTing the Tru%ices' Annual RLpoi'l and Ihe finanLial stalcmenLS in ac¢ordanLe with tipplicablL luw and United KinbTduin AcL(>unting Standards (Uniled Kingdotn Generally Accepied Accnunting PJaciiLel. Th¢ law appliLohle io churitics ip. England and Wales requirc8 the tru.siee8 10 prepare finunLial 81aicmcnts for LllLh IiiiiinLial yLaT wliich givL a iruL and fail. viLw ()I' thL siaiL ()t aflairs ()I' Ilic chui¢h and ()I' il% inLominbT rty.%()UlLL& and applictlli()n (Il. resouTLLS lor ih41 year. In preparing Ih()%c I'inanLiol staiement% thc irusie¢s aic rcquired to.. .SLILLI suiiablL ItL¢()unlinb p()liLics and apply Ihem LanqisiLnily.' ()b%LrvL IhL mLihnd8 and prinLiplLs ot thL Charili¢.s %taiLITLcnl of ReL()mincnded PractiLc, 'AcLI)unling RLP()riing by ClTrariiiL%' MakL.jud&¥nibni.4 und L.s-.iini1lL that arL red%()nahlL 21nd prudeni; 8IuiL whLihLr llppliLdblL gLL¢()uniing .%liindards Iitivty hLcn (()11()wed, sllhjLLi io any matLrikl dLPdTiufL'S disLI()d and LxpltiinLd in IhL findnciul sttiltyincnis; und PrLpur¢ ¢hL GILL()unt% ()n th¢ giiing Ll)nL¢rn busi% unlcss it is inuppi'opri2)le l() prb'sumL thal thL cl)urLh will LiinlinuL in ()pLrjilj(In. ThL IriililL¥% drL rL.4p(In%iblL flir niainitiining pri)pLI' aLc(iuniinsT rL¢()Td% whiLh discl()%L wilh rba.%()nablL aiLuruLy til yny iimL th¥ linunLi&LI p()%iti()n (..f Ihl LhurLh, dnd i(1 Lnuhlb IhLin l() Ln%urL Ihut ihL aLL()unt4 Li)mply with ihL ChariiiL% ALI 2111 I, Ihl Churiiy 14LL()uni4 Jn(l RLP(IfL41 Rtysul£iliiin% 21XIII, IhL pri)vi.4iLin% ()I' IhL LliurLh Iru%t d¥Ld. TIIL tru4¢LLS IirL ol%() rL'SP(In4ihlc li)r .%ulL&Tuarding IliL a4%LIS lil. IhL chureh and h¥nLe fnr takin8 fL'a%(Trnubl l()r ih¢ prbvLniii)n aiid dLILLli()n ill. Iruud Jiid i)IhLr irrL&pularitiL.S. ThL Iruslvty¥ Hre rLliP()n.%iblc r(?r IFL muiniLnance und iniLbprily ol. thL churtyh and Iinlln¢ial inl<)I'iniili()n includLd i)n thL churLI)'& WLh%iiL in ULLÉirdan¢i wilh ILgi%lali()n in IhL Uniicd Kingdi)In ¥()VLI'ning IhL l)fLP4ifdiiiin iin(I di8%Lminulii)n ()I' finun¢ial SlalLIIILn¢s. Independent Examiner A rL'.%()ILIIi()n li) rLaPtKiinl An(IrLW G¥ary ()( Gcary PurlnLr.%hip as indepLnd¢n( Lxaminer of Emmanucl Cily Chuith will bc pui l() IhL bi)ard ()I' Iru%lLLS. Approved by the Board of Trustees And slgned on their behalf by: Chan Kwai Fong Chairman of the Board of trustees Date: a7
INDEPENDEwfEXATrL IINER'S REPORT TO THE TRUSTEES OF ELMMANUEL CITY CHURCH (formerly EMMANUL4L CHINESE CHURCH) I Irport (Trn the cOUThts of Emihanuel City Church for th¢ year ended.11 Decemtxr 2011, which aiE set out on pages 8 10 14. Respective rttponsibilltles of Trustees and Exandmy The ¢hurch'5 ThISS are responsible for the pr¢paTrtion of the ttccounis. The Tn]stees con$idei' that an audit is not required for this period under be¢iion 144121 of thc Charities A¢t 2011 {the 2011 Act) and that an independ¢nt examinolion is needed. l am qualified to uThderiak¢ the examinaiion by bEing a qu&lified rnber of the Instiiutc of Chari¢ird AccouTrlants in England aiid Wales. It is my resrA)nsibiliiy.' io cxominE the accounls under section 145 of th¢ 2011 Act; io follow the prvcedures Iwd down in ihe G¢neral Directions given by the ChariLy Commission undei. seciion 145(5)Ibl of ilic 2011 Act; and to si41¢ whether particuldr maiters have come to my attention. B1$ of IndependeTrt FJxftminer's report My examinwiion w&s canied out in a¢¢nrdanee with (he Generul Directions ¥iven by the Chilrity Commission. An xaminuiion iiicludes a revTeW of ihe o¢counLin¥ record.s k#pt by Ihe ¢liurch llnd u comparison of Ihe COUnt$ pr¢senied with those recalls. li al80 includes eon,%iderniion of any unusu4)l ilttms or di70$ureS in th¢ aceuuiilsi ¢1nd scekiiis ¢xplanations from Ihe Trustees ¢unc¢rning any sueh matlcrs. The pr(Kedui'cs Undk¢n do not provide ull the evideiice thut w()uld bc rquirLd in an audit, and ¢tsn%equenily I do not exprLss an audii opinion on th¢ vicw given by Ihe I0niS. My rep()r¢ is limiied to those malt¢rs set oui in the 51atement below. Independent ExAmlner's slatement In conneciion with my examination, no matier ha$ come to my altention.. (l) whi¢h gives me reasonnble cause ro believe that in any ma181 respcct the qUIremen1$ 10 kcep accounting records in respect of the churcli in oLrordance wilh sli0n 130 of th¢ 2011 Act., to prepare ac¢ounts which occord with ihe accounting records and ¢oihply wilh tl)e accounting requiirmcnls of ihe 2011 Act hkve not Eeen met; oi. (21 to which, in my opinion. aiiention should b¥ drawn in order Lo enable a propci. understanding ofihe accounis io b¢ reaLhed. rew Gea artered Aecouiitsnt Gcary Partnership Chai'Lttred Accountants 159d Chase Side Enfield EN2 OPW Date..
EMMANUFL CITY CHURCH (forn)erly EMMANUEL CHINESE CHURCH) STATEMENT Oli FINANCIAL ACTIVITIES for the year ended 31 Decernber 2023 Tot41 Total nd$ fun(Iq Unrestricted Restricted Yearended Year ended ndB funds 31 Dec 2023 31 Dec 2022 INCOME AND EXPENDITURE Income from: Donations and t£¥7¢8.. Tithes and other offerings 44,803 5,720 350,523 415,781 Invcstmenis.. Baiik Inr¢S1 receivable 4,050 4,050 Other 19,120 19,120 12,07 Totsl Income 167,978 5,720 371.693 428,137 Expenditure on.. Charitabl¢ Activi(ie$ (notc 2) (241,T721 (I I,O(K)) {254,772) 1264,8381 Total Expenditure 1243,772) (I I,O(K>l (254,7721 (264,838) Net Income 124201 15,280) 118,921 163,299 Transters betwe¢n Fvnds Nei Movcmcnt in fi und$ 124201 ($280) 118,921 163,299 RECONCILIA TION OF FUNDS Net Movement in Funds, uy shown above 124,201 (5,280) 118,921 Total Funds brought forward t 01 January 2023 2,880.235 21941 2,903,176 2.739,877 Tothl Funds carried forwArd at 31 December 2023 3,004,436 17,661 3,021097 2W3,176
EMMANUEL CITY CHURCH (formerly EMMANUEL CHINESE CHURCH) BALANCE SHEET at 31 December 2023 31 Dec 21)23 31 Dec 2022 Fixed axsets Tungihle FixLd AssL'l¥ Inote.11 2.614,-162 2.6A)2,211 Current St()cks DL'bt()r.% Ini)ie 4} h al Bank and in Hand i.o(x) 21.71MI 17.977 421.595 328,871 Creditor5: 8n¥Junts falling due within one year Credil()r4 and ALLfuLd ExpLndiiurL' In()1¢ 5) (1.3.8d)I 127,9261 Net current assets 407.73.5 .3IMI,945 Net assets 3,022,097 2.Y01,176 Fund5 GLnbidl Fund RLstriilLd FundA {nol¢ O) 2,8811,23.5 22.941 17,(161 3,021097 191I.1,170 Appii)ved by IhL B()ard of Trustees on and signed on Ihcir hlf by.. -14Ltr_ Chan Kwai F()ng Tru51ee Jimmy Hon Chung Ktm Truslee
EI MMANUEL CITY CHURCH (forrnerly EMMANUEL CHtNESE CHURCH) NOTES TO THE ACCOUNrs for the year ended 31 December 2023 Accounting Poli¢ies Da$is of accounting The finEtncial siai¢tncnts hrtve been prepared under Ihe historical cosi ¢onveniion, and in a¢Cordat with Accouniing and R¢porting by Chariiies.. Siatemenl uf Recommended PTa¢ticc appliLable 10 chariiics preparing their accounis in accordance with ihe Financial Reporting Standard applicablo in the UK {FRS 102) {eflecLive I January 2019). b>. Income recognitlon Tithes and offering9 &r¢ uccounled for when received by the church. Othei. income is accounied for on an accruals bks'is as far as it is prudeni to do so. Recognition of expenditure Ilabi]illes Expenditure 15 recognis¢d in the Siaieinent of Financial Aciivilies as li is incurrcd. F.xpen5es incurred wholly in pur&uanLe of Ilie chuirh's cliariillbl¢ UCLlVlli¢S, includin8 siilaTiCS of pttstiiral siaff, fil'e classified as I'c%ouir¢s exrKnded on Chariiablc Aciivititts. Expens¢$ incurred in In¢¢ting the ongoing requiirmenls ol. slatulc an(1 Ili¢ chuirh's Lnns(iiution artt classified as GavLriiancc costs. Other management and adminisiration costs Are ¢lassified as Oth#r Rc50urees Expcnded. Accrued expenditur¢ hAs been taken up in the oc¢ounis at the finuncial year end. d). Flxed Assets, depreclat5on, and amortls4tion Fixed asset$ are staled at cost less accumulaied depreciolion or amorlisation. D¢piYciation and amoi'iisaiion is provid¢d ai the following llnnual rat¢s, calculated to reduce ihe book value of the a1& eoncerngd to estimated residual value oyL*r their useful working lives: FreLhold prL'inises- 2% on cost FixturL's, fjtlings and equipment. 25% on cost Stock8 Sto¢ks ¢onsisi of boDks held for resale and are valued ai Ihe low¢i' of c05t and net realisable value. Pension contrlbutions The chureh makes regular eontributions towards the rSonal pension plans of certain employees in compliance wirh Ihc w()rkpla¢e pension regulations. Coiitribulions gre charged to statf c95ts as incurred. There were no ouisianding conlributions at the balance sheet date. Taxation As a r¢8lStered ChttY, the ¢huTch is generally excrnpt from income lax and capital gains lax, but not from value tax. IrrecLiverablg vaiue added tax is included in the cost of those items to which it relaies. io-
EMMANUEL CITY CHLRCH (formerly EMIIqANUEL CIllNESE CHURCH) NOTES TO TIICI ACCOUNTS, continued for the year ended 31 December 2023 Accounting Policiffj Continued h). Funds 5tTUCture Unrestri¢i¢d funds comprise those funds which the trustees are free 10 uso for any purpose in furtheronce of the cliarilabl¢ objects. UnJEstrieted funds include designated funds whLro the tru8tee5, at theii. discre¢ion, have cread a lund for u specific purpose. Restrieied funds are funds which are 10 b¢ used in rjCcordan with specific I[riell0ns imposed by ihe donoi. or trust deed. There ke Ihree rtstricted furbds.. the Developmeiit Fulld, tho Mission and Relief Fund, ftnd tlie Theology Fund, set aside for the purpts¥e$ desci'ibed in no* 6 ¢0 the accounts. Expendlture on Charitable Aetffivlties Total Total Total funds fund$ Unrestrlcted Rastrlcted Year ended Yr ended runds funds 31 D¢c 2023 31 Dec 2022 Dlreet expenditure Mission and relief Pastoral stoffr costs Rent and rnies and liirL of halls Eveiii% and oihLr aclivi(ias Gift.5 an(1 honnrariH Training and re50Utces 11,000 136,168 109,602 17,802 1,993 534 17,802 1,99.1 534 11,427 1,450 15f)A97 li,)0 167A97 170,734 Support eosts Estdbli$hment overheads Esiablishmenl.staff costs Other ov¢rhe4ds DepreLia¢ion and amorii$4¢ion 9,461 .3.570 2.424 69,770 9,461 11,670 1,400 2.424 69,770 71541 85,225 85,225 92,104 Governance Costs A¢counthnLy f¢¢s 2,050 2,050 21150 2,050 Totsl 243,772 ii,000 254,772 264I38
EMmANL CITY CHURCH (fornierly EMMANUEL CHINKSE CHURCH) NOTES TO THE ACCOUNTS, contfinued for the year ended 31 December 2023 Expenditure on Charltsble Activiti¢s, continved Year endod Year ended 31 Dec 2023 31 Dee 21122 Staff The average numbcr ofemployees during the year wa5.. ManAgemeni and lin11Strkr the yethr Eliminated on di5pos&Is 114,107 55,071 50,846 56,276 14,699 221,229 69,770 (50.846) (50.846) Balance at 31.112023 169,178 70,975 240,153 Net Ilook VDllle at 31.112023 ¥84J43 30,019 2ffj14J62 Net Book Value at 31.12.21ll2 260,433 41,798 2,602231 12-
EMMANUEL CITY CHURCH (forn*rly EMMANUEL CHINESE CHURCH) NOTRS TO THE ACCOUNTS, conlinued ror the year ended 31 December 2023 Debtor5 31 Dec 2023 31 Dec 2022 Cjift Aid IAX rebate rec¢ivable Other (kbtors, prepaymenL¥ und eru incom¢ 10,266 7,711 23,700 17,977 Creditors.. nunts fauing duc within one yr 31 Dec 2023 31 Dec 2022 Accru&ls and defeed incorne Taxaii()n and social security Oih¢i' crediLOI 2,040 4.053 7.767 15,615 8,190 4,121 13,860 27,926 Restrlcted Funds M15sion And Tot81 RLlief Theology RestrictL%I Viind Funds Development Balance ui 01.01.2011 Inc()ming resouires Outg()ing resouiies Transfers Iioyfrom unre$tricled funds 22,941 5,720 (I I,IN)O) 22,941 5,720 {11,[0) Balance #t 31.12.2023 17,661 17,661 The D¢vclopmeni Fund exists to provide for the future development of the church. It ¢an be used for purcha5¢ and improvement of a buildin8, training c¢ntre or worship place$. ThE Mission ld Relief Fund ¢xisls io provide funds for missiDnary actLVlties and dIsaer and poverty relief. The Theolo¥y Fu1 exists to provide fvnds lor the training and supwrt of spiritual 1¢odei's at Bible collc8es and clscwhcre. 13-
EMMANUEL CITY CI.IURCH (fornierly EMIWANUEL CHINESE CHURCH) NOTES TO THE ACCOUNTS, continued for the year ended 31 December 2023 Analysis of net awts between funds General Fund Restrlcted FuJMJ$ Total Tangible fixed asseis ca.sh at bank and in hand Other netcurrent osselsl(liibililies) 2,014,362 .179,274 10,840 2,614,362 .396,895 10,840 17,661 30IM,436 17ffi1 3,022W7 Transoctlort¥ Involvlng trustees connected person$ l. Durin¥ tli¢ year ended 11 De¢¢inl)er 2023, licv Y K Sung, a former trLrd¢e, rcceived remunerniion including pension in Lho sum o1'£40,4frfl (2022- £42,334) in his ¢apacity ab S¢nior PosLOr. 2. Durijig the ycar endL(13 l DeL'Lmbcr 202.3. MI. J Y Sung, bon of th¢ forn)er trustce Rev Y K Sung, ceIVed Inun¢r&tion including pension or £43,969 12022 £41,088) as an ¢mploy¢e of the chur¢h, arKI underlu()k Bible SchoDI studie% ai a cosl lo Ihe ¢hurch of £nil (2022- £3.990). 14-