Hong Kong Scouser CIO 1203469 Annual Return for Charit Commission 2024 y
1. Trustees' Annual Report
Banking and Financial Operations Update
During the reporting period, Hong Kong Scouser faced temporary challenges in financial operations due to a change in leadership. Following the appointment of Mr. K. K. Chan as the new Chairman, we initiated the necessary procedures to update the bank account signatories and establish online banking access under the new administration.
This transition resulted in delays in accessing and utilizing the organization’s funds, as the bank account remained temporarily inactive during the verification and setup process. Consequently, certain planned expenditures and financial activities had to be postponed.
Additionally, the Chairman’s demanding schedule, which included extended periods abroad for overseas meetings, further contributed to delays in administrative processes. These circumstances impacted the pace of financial and operational decision-making during the year.
Funding and Activities
During the reporting period, Hong Kong Scouser submitted several funding applications in an effort to support its planned activities. Unfortunately, all applications were unsuccessful. As a result, and in the absence of external funding, the organization was only able to carry out four events, which was made possible through the support of a partnering charity.
Despite these limitations, the team remained committed to community engagement and continued exploring alternative funding opportunities for future initiatives.
2. Receipts and Payments Account
Receipts
Donations and legacies: £0 Grants: £0 Fundraising events: £0 Other income: £345 Total receipts: £
Payments
Charitable activities: £363.04 Fundraising costs: £0 Governance costs: £0 Other expenses: £ Total payments: £363.04
3. Statement of Assets and Liabilities
| Category | Details |
|---|---|
| Cash at Bank and in Hand | Temporarily inaccessible due to leadership transition and bank signatory updates £1,380.96 |
| Receivables | None reported. |
| Payables / Liabilities | £180 to trustee Bux |
| Fixed Assets | Not applicable. |
| Investments | None held. |
| Restricted Funds | No restricted funds reported. |
| Unrestricted Funds | Minimal balance, pending reactivation of banking access |
Supporting Notes
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Banking Transition : The appointment of K. K. Chan as Chairman led to delays in updating bank signatories and setting up online access. This caused temporary inactivity in the charity’s bank account and postponed planned expenditures
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Funding Status : All external funding applications were unsuccessful during the year. Only one event was held, supported by a partnering charity.
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Income Threshold : The charity confirmed its income was below £10,000, exempting it from further financial disclosures.
4. Declaration
The trustees declare that the annual return and accounts have been approved by the board of trustees and signed on their behalf.