GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
Report and Accounts Year ended 31 August 2023
GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
LEGAL & ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 AUGUST 2023
ADDRESS FOR CORRESPONDENCE GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC) Merrow Methodist Church Hall, Bushy Hill Dr, Guildford GU1 2SH GOVERNING DOCUMENT
CIO Constitution dated 2 September 2020
CHARITY REGISTRATION NUMBER 1191109 TRUSTEES RESPONSIBLE FOR MANAGING THE CHARITY
INDEPENDENT EXAMINER
Archie McDowall BA CA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
Page 1 Legal & Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7 Notes to the Accounts
Page 1
GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 August 2023.
Objects of the charity
The charity, Guildford Holy Word Chinese Church (GHWCC), is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal objects, as set out in its governing document, are:
a) Advance the Christian faith for the benefit of the public in accordance with the Statement of Faith appearing in the schedule
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
1)Sunday service including Sunday school
2)Regular bible study 3)Teaching sessions 4)Pastoral care
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Financial review
During the year income increased by £12991.41, to £33934.22, and expenditure increased by £2254.89, to £24506.70. As a result the cash held by the charity increased by £9427.52, to £22166.80, of which £22166.80 is unrestricted and can be used for any charitable purpose.
Reserves policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £2225.18 (which equates to 10% of the last year's total Expenditures) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £22166.80 and the charity is complying with its reserves policy.
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Governance
Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to a senior management team led by Ho Leung Nigel Cheung, Meng Wang, Yi Li, Aiping Liang. New trustees are recruited and appointed by the existing trustees, by a majority vote.
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Aiping Liang
Date:____
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
I report to the trustees on my examination of the accounts of GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC) for the year ended 31 August 2023 on pages 5 to 7 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 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 2011 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: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
- the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Archie McDowall BA CA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date:
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GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023
| Notes Income receipts Donations Stewardship grant receipts Total receipts Payments 2 Total payments Transfers between funds 4 Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before Payments in relation to charitable activities undertaken directly |
General Designated Funds Funds £ £ 7,554 - 26,381 - 33,934 - 33,934 - 24,507 - 24,507 - 24,507 - 9,428 - - - 9,428 - 12,739 - 22,167 - Unrestricted Funds |
Restricted Funds £ - - - - - - - - - - - - |
2023 £ 7,554 26,381 33,934 33,934 24,507 24,507 24,507 9,428 - 9,428 12,739 22,167 |
2022 £ 6,478 14,465 20,943 20,943 22,252 22,252 22,252 1,309 - - 1,309 - 14,048 12,739 |
|
|---|---|---|---|---|---|
| General Funds £ 7,554 26,381 33,934 33,934 24,507 24,507 24,507 9,428 - 9,428 12,739 22,167 |
The notes on pages 7 form part of these accounts.
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GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 31 AUGUST 2023
| Notes A Cash funds Cash at bank with immediate access Notice deposits Petty cash B Other monetary assets Gift aid due to charity Other debtors C Liabilities Falling due within one year Loans Trade creditors Taxes due Fee for Independent Examination Accrued expenses Falling due after one year: Loans Pension obligations Total |
General Designated funds funds £ £ 22,167 - - - - - 22,167 - - - - - - - - - - - - - 540 - - - 540 - - - 540 - Unrestricted Funds |
Restricted funds £ - - - - - - - - - - - - - - - |
2023 £ 22,167 - - 22,167 - - - - - - 540 - 540 - 540 |
2022 £ 12,739 - - 12,739 - - - - - - - - - - - |
|---|---|---|---|---|
D Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf by:
Aiping Liang Date:_____
The notes on pages 7 form part of these accounts.
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GUILDFORD HOLY WORD CHINESE CHURCH (GHWCC)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Payments in relation to charitable activities undertaken directly Employment costs (see note 3) Church Venue STEW. Service Events Children Ministry Books and Equipment Web Expenses Sundry Expenses Insurance |
Unrestricted Fun General funds £ 17,050 4,840 60 179 371 842 516 318 332 24,507 |
ds Designated funds £ - - - - - - - - - - |
Restricted Funds £ - - - - - - - - - - |
Total 2023 £ 17,050 4,840 60 179 371 842 516 318 332 24,507 |
Total 2022 £ 17,095 4,320 50 - 267 333 144 44 - 22,252 |
|---|---|---|---|---|---|
3 Transactions with related parties
Ho Leung Nigel Cheung served as church Pastor and was paid £16,499 (2022: £16,508) for serving in that capacity, not for serving as trustees; the church have obtained permission from the Charity Commission to make this payment.
4 Movement of funds
| General funds Total funds |
Opening balance £ 12,739 12,739 |
Receipts £ 33,934 33,934 |
Payments £ 24,507 - 24,507 - |
Transfers £ - - |
Closing balance £ 22,167 22,167 |
|---|---|---|---|---|---|
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