Charrty number: 1186187 GOODSEED CHURCH Annual Report and Unaudited Financial Statements 31 July 2024
GOODSEED CHURCH Trustee Reportand Accounts Year ended 315t Jyly 2024 Contents Page Trustees Report Independent Examinerfs Rep1 Slaternent of Financi& Pdbvii*s Balance Sheel Notes to the A(xx)wts 74
GOODSEED CHURCH Reglstered Charity Nurnbor.1186187 Tru8tee'3 Annual Report For the yEar entled 31"July 2024 The trustees presenl their report wilh the financial statements of Goodseed Church for theyear en¢Jed 31 July 2024. REFERENCE A14D ADMINISTRATNE DAlLs Cholity Numbet 11161WI Regi8teRd Address 2 CrTI*l Ro•J WCes1erPa[ 47JP Website Address hl1psjA.Wlj Trustees: Ho SIG LEE I(•r3 JIN SCK)K LEE 8OKJO PARb( Bank". 8ardays Bank Hc 1 Churchill Place London E14 5HP Independent Examiner EFREM KIDME IFCCAI EKB ACCOUNTANCY SERWCES LTD 3Y1 NORTH ROAD LONDON. N7 9DP
GOODSEED CHiJRCH R•9istsrfjd Charity Numbor1186187 TN8ts0'8 Annu81 Rtport Fortheyear ended 31" Juty X24 STRUCTURE. GOVERNANCE & IAANAGEIIENT Govmin9 Do¢urnent The Church is a registered charity and is govemed by its ASSOCIATION of Charit8bl8 Incorporale¢J Organisabon (CIO) regist8reil on 06 Nov 2019. Risk Management The trvslees have a duty to regulafty review the risks to which the charity is exposed and to ensure appropriate ¢ontrols a in ace to provide rea)nable assurance against frau¢J and 8rror. The trustees do not consider that there are any substantial risks beyond the liabilities is¢losed in the financ¢al statements. OBJECTIVES AND ACTMTJES Charttable objeGts The Charity main objective is lo conduct religious service for Koreans living in Kingston and provide services and assistance lor young children and elderty people. Activtlies Activities during the yearinduded.. An ÈnqLJiry semce for el¢Jerfy the seNce required. Regular vrsits to peOe and the conggatIon are made and gtfts are given to them. Various events a organised lor the eksers. The charities have various aCts"v.S for chikjren. They organise various educab"on81 actives. The trustees had hired a church hall in Ktngston and Tel9u5 service in ¢ondu¢¢ed every Sunday aftemoon By Pastor Tae Bok Kang. Tr congregatKw) is about 120 peoplB. Publi¢ BnefSt The trustees ctsnfirrnthattheyha¥e haddue regard tothe public benefit guidancepJbli5hedbythe Charity CoMmisn In exelringtherOwersOrdUtie$.as QUired in U)eCharitieskl 2(VJ6r2011. FIIIANCLILREWEW General Fundlncotn8WdS £84.301.12023'.£124.9351. ExpenditL¥ewa5 £104,828.12023.. £13) resulting a defiat of £20.526. 12023- net Surplus of £28.4221. s11."85 of Trust In ReWwio its The twstees are wuired by Charty Aci 2011 io prep financial staternent & for each financi year wknut any materi4 matt¥s tsf dnIS fvJarKxa thties during the year and ofits position attheend of Iheyear. In preparing Ihe financial stalement5. thetnJstees8rerequired . To make judgements aThJ estimates ihat are tea50nai arn* wudenL . Toslate wthether applic3ble accountirvJ slandarts and $tements of recommended practice have been f dlowed 5ubjecltoany departure$d1)Sed?neVlned In ihe finanrial statements. and . T0pe the finan(y3J slaternents gcirwJo)rwn fMsigunWtt is inapwryriate to prewmethat the eharity wll rrnt1 &) OFwate.
GOODSEED CHURCH Rtgi$ier¢d Charity Number'.1186187 Tw$tee's Annual Report For year orhdod 31 Juty 2024 The tnjstees are respsible kwrNJ&c¢Xtiry recordsvthith IfisL*)se with reasonabl8 8(JracY8t rnY the financial positionofthe ¢harityandenaUethem lo ensure that the finanaal 51atements comttywith Ih8 ChantyA. 2011. TheYa Jso responsibk forsafeguarding the assets ofthe charityadherenc8 for ta'n9 reasonab $lepsfor{he pwenlion and detection olfraud and other Irregularities. APPROVAL Thi%repcrt which hasbwKwaredlnatt(thn¢ewth thermisK)nln Ih•ChantyAct2011 Telalmig to smal chaiibes. wasapprrfved by the trustees the N(wember2025 arVJsied on their beh4f by.. r. HO SIG LEE Ch¥Marb
GOODSEED CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOODSEED CHURCH For th¢ y•ar ¢nd8d 31.7.2024 I report on the a¢¢ounts of Goodseed Chur¢h for the year ended 31st Juty 2024 whlch ar8 set out on pages 4 to 8. Respectlve Responsibilities of Trustees and Examlner The Charity's trustees, who are also the directors of Goodseed Church for the purpo885 of company law, are responsible for the preparation of the accounls. The Charivs tiuste85 consider tha¢ an audit is not required for this penod urr section 14412} of the Charilies Act 2011 (The 2011 A¢tl and that an independent examination 15 needed. 11 is our SpOnsIbl11ty to: lil examine the accounis unijef section 145 of the charib.es Act {iil tofonow the procedures laid dowfi in the General Directions given by the Charity Commission under section 14515llbl ol the Charities ACL and liiil to state whether particular matters have come lo our attention. Ba$is of Independ•nt Examlnerfs Ststernent Our examination was carried out in accordan¢e wilh General DiTections gwen by the Charity Commission. An exatnination in¢ludes a review of the accounting records k8pt by the charity and a comparison of the a¢¢ounts presenle(J with those records. It also indudes consideration of any unusual items or disc105Ltres in the accounts. and it seeks eXanatIonS from the trustees ¢onceming any such matlers. The procedures undertaken do not provsd8 all the evidence that would be required in an audit. and consequently no opinion is given as to whethef any rnaierial maiters of ts)ncem have come to our attenti¢)n and the report is limited to those matters set out in the slaternent below. Independent Examinerfs St3tÈment In connecib)n with my examination. no fflatter has come to Otjr attenti-. 1. which give ffte asOnable rause to believe Ihal in, any material spect. th8 requlrement$.' lil to keep accounting re¢ords in accordance wth section 130 ofthe Charib"es Act", and lill to prepare ac¢ounls whi¢h accord wth Ihe accounting records and comply Ih th8 accounting requirements of the Chanties Acl have not been met., or 2. to which. in My opinion. attention should be ¢Jrawn in order lo enabl8 a prop8r understanding of the accounts to be reached. Efrem KKJane FCCA Chartered Ceriified Accountsnls EKB Ac¢ountan¢y servIs Ltd 3941 North Road London N7 9DP -11112025
GOODSEED CHURCH STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31 July 2024 Notes 2024 2023 Incorno Frorn.. Donations 84.301 84.301 121,905 Charilaile AGtNit 3,030 Investrnerbts (Bank Interest) 84.301 .301 124.935 ExpendSture On: CharilatAe hi¥le$ 104,828 104.848 96.513 Net In¢om¢ I IExp¢nditurel 120.5261 120.5261 28,422 Transfers bètweÈn Funds N•t Movement in Funds 120.526) 120.5261 28.422 Total Funds BFW 31.7.2023 41.162 41,162 12.740 Total Funds BCF 31.7.2024 20.636 20.636 41,162
Balance Sheet charity Number.. 1186187 As at 31st July2024 unrestn.cted Restricted Total nds . Totsl Flxod Assets Talble Fwl Assds 21.405 21,405 27.117 Total Fixed Asset5 21.405 21,405 27,117 QJrrentAssets Other deblor5 Cash 218ank & kn Tolal Current Assets 6,668 8.7S8 15.426 1,919 1.919 1,919 1,919 cdits.. AnYwntfaliTrJthie wtrin one 2,688 2.688 NelCurrentAssets 81(LialMIths Cr8ditors'. An)untfalling due more than one ear Net Asset5 20,636 41.162 ResthL1ed Funds Unr&sliiled Funds Total Funds 20.636 20.636 41.162 41,162 20.636 Approved by the Board of Trustees on Novembèr 2025 and signed on their behalf by Mrs. JIN SOOK LEE
Good Seefl ChLwch NotestotheFin3nci31 StatemÈnts Fortho yoar ended 31 July 2024 Bsis offwEparnlio The aeCx)unts have been 8111¢al c05t con¥enkn and In ¢(¢dae wth FRS 102. Fin8naa Rèp¢rtiNJ si¥ndth appIab IntheUK and Repubk oflreknTr#. theChaits Ar 2011.know)iing Rert by Sta¥ii8rt ptare (Chari% S(P FRS1021. the irrtxjme the ¢•n t4U8rfhbJ {BasaGOJraCy. VI)nry trediled In the staements bi rTh>J 10 rdates. a0t &¥ mlJ in resp1 cl 5ubscripwJfts OLnstsndir¥. DI31#1$ tskw to Ml ty yoarof r. IntereslRecetvable Intere51 fuThJ5 hekj on dep1 is IALthd ¥n rable aThJ W)1 L>n naThJ ihe charily.. Ihrs¢s ryJmbaty U110n d thè ptyatA&ty b. ChwNablp AcU¥It$ Incomè Is defr& whèntrni¥sw 1885 arg Trl¥e In thance otlhe perf(5 thtyrdate. Expenditure and Liabilitres Exwdthre LsrwEed on Trir8dVAT". thusal are shtrn IV$e vATChpd. Tanylble Ilxedassets Tan9iNe red asseis are mthisured al cfAt c(¥m• e5. DepretsatM)n is provided all fixed aysets. freej land. at res cakulaled io vKrte off th8 la55 esbmaled resvjual value. asset evty over expectal usefvl lrfe. The charity does n urrenty have any kkIl$e asseis. Equ¥wwi. FlxDJr6sJFltry5 raxatton Funding Artountin9 Untestitted funds be in ihe (Jwlo14e obiBdNes at ihe th5U8th?n of kne tru5tee& Restr1 fvrKls can only used far restri¢ted purp>¢ wihin Lth'ects of charity. Re5tiicthon5 arise when specfie(J ty the ¢kn)(LYwhen 8¢ raI%j forParar resbicled wrpLW. Short iemi ¢itOrS¥re na5urwJ¥IltartsK#w IwhwLSLL5u*ythe1rNtew1ce). Lwtsand otherfinanual liabilthes are Ini1 reLwnwd at trdn53ckn neld¥ty transadKffi
D8tailed Income and Exp8ndire for thè year Ended 31 July 2024 Tru¥tei BEllEr Tle¢s, reTTrvncAtion orNherbthefrt5 Iorthtyear ¢rtht 31. March 202¥ £NIL IX)23- £Nill. The av¢rag¢ nurnberof¢D4Trk)ytts dttE 3.Q02>31. TnLytees' TYusiLYS'CXPLitstt paid forth¢y¢ar¢TrJcd Jl. Mwrh 21r14 £0.(31J2023- 2. TgIble Flxd Assets Vehi At 01.08.2023 9.67fj J4ffi76 Costat 31.07.2Y)24 9.676 25.((M) 34.676 AI 01.08.20 7559 At 31.072ts24 N•t Book V¥lu• At 31.07.2023 7.117 20.000 27.117 AI31.072024 6.406 15.ODO 21,406 3. Anatysls of Net Ass•ts Beten Funds nreslricted 2024 Fu TarytyeFEd Aw 21.405 21.405 27.117 6,66 8.7S8 (1.3811 hal 8¥dL editty3 1.919 12.688) (2.688) BaLante ofFunts 31 JL4y3fI4 4. CreditOf3 and als 2.461 227 1.381 PAYE 1.3BI