Charity Registration No. 1205747 (England and Wales)
NOTTINGHAM CHINESE SCHOOL
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
NOTTINGHAM CHINESE SCHOOL CONTENTS
| Page | |
|---|---|
| Trustees’ Annual Report | 3 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 12 |
NOTTINGHAM CHINESE SCHOOL
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2024. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1205747
Principal address
Alderman White School Chilwell Lane, Bramcote Nottingham NG9 3DU
Trustees of the charity
The trustees who have served during the year and since the year end were as follows:
1 Dr Xuezhong Sun
2 Dr Li Ming
-
3 Dr Zhang Jing
-
4 Dr Xianjing Cui
-
5 Dr Li Weibin
-
6 Professor Hao Liu
Independent examiner
Muhammad Armughan Ali Khan, ACCA Akhter's Limited Accountants and Business Advisors 64 Castle Boulevard Nottingham NG7 1FN
NOTTINGHAM CHINESE SCHOOL
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2024 (CONTINUED)
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Object Of The CIO is to Advance Education For The Public Benefit In Chinese Language And Chinese Culture In Nottinghamshire And The Surrounding Areas
Public benefit statement
The charity aims to serve the whole community, for the benefit of the public in general, wherever possible. In meeting objectives and formulating future plans the trustees have considered the Charity Commission’s guidance on public benefit.
FINANCIAL REVIEW
Reserves Policy
The Statement of Financial Activities shows a net surplus of £970 for the year. Total funds stood at £61,244.47 at 31 July 2024, the funds held at the bank at the balance sheet date are sufficient to cover normal recurring expenditure for the next twelve months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution, and constitutes an unincorporated charity managed by the management committee of trustees. New trustees are recruited when required, and are advised of their duties and responsibilities as trustees, on appointment.
Transactions and financial position
The Statement of Financial Activities shows a net surplus of £970 for the year. Total funds stood at £61,244.47 at 31 July 2024.
Approved by order of the Management Committee and signed on its behalf by:
Dr Xuezhong Sun Chair
Date: 28 May 2025
NOTTINGHAM CHINESE SCHOOL
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
I report on the accounts of the charity for the year ended 31 July 2024 which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Muhammad Armughan Ali Khan, FCCA Akhter's Limited Accountants and Business Advisors 64 Castle Boulevard Nottingham NG7 1FN
Date: 28 May 2025
NOTTINGHAM CHINESE SCHOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Notes Income and endowments from: Tuition Fee 2 Other Income 3 Total income Expenditure on: Charitable activities Other costs Total expenditure Net (deficit)/surplus Reconciliation of funds: Total funds brought forward 5 Total funds carried forward 5 |
Unrestricted Funds £ 62,939 3,268 66,207 65,537 65,537 670 60,275 60,944 |
Restricted Funds £ - - |
Total 2024 £ 62,939 3,268 |
|---|---|---|---|
| - - - |
66,207 65,537 - |
||
| - - - |
65,537 670 60,275 |
||
| - | 60,944 |
The notes on pages 8 to 12 form part of these financial statements
NOTTINGHAM CHINESE SCHOOL
BALANCE SHEET AS AT 31 July 2024
| Notes Fixed assets Tangible assets Current assets Cash at bank Cash in Hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Net assets Charity Funds Unrestricted funds 5 Total charity funds 5 |
2024 £ - - 57,563 4,282 |
|---|---|
| 61,844 (900) |
|
| 60,944 | |
| 60,944 | |
| 60,944 | |
| 60,944 60,944 |
The financial statements were approved and authorised for issue by the Management Committee on 28 May 2025 and were signed on its behalf by:
Dr Xuezhong Sun Chair
The notes on pages 8 to 12 form part of these financial statements.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
NOTTINGHAM CHINESE SCHOOL
1 Summary of significant accounting policies
(a) General information and basis of preparation
Nottingham Chinese School is a charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to Advance Education For The Public Benefit In Chinese Language And Chinese Culture In Nottinghamshire And The Surrounding Areas.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
The charity does not hold any restricted funds.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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Expenditure on charitable activities; and
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Other expenditure represents those items not falling into the category above.
NOTTINGHAM CHINESE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
(e) Tax
The charity is exempt from tax on its charitable activities.
(f) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
(g) Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
NOTTINGHAM CHINESE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2 Income from donations and legacies
| Income from donations and legacies | |
|---|---|
| 2024 | |
| £ | |
| Fee from students and other Income | 66,207 |
There were no trustees’ expenses paid for the year ended 31 July 2024.
3 Trustee’s remuneration and benefits
NOTTINGHAM CHINESE SCHOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
4 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | |
|---|---|
| Taxation and social security Wages & Salaries Other Creditors |
2024 £ - - 900 |
| 900 |
5 Fund reconciliation
Unrestricted funds
| Unrestricted General funds |
Balance at 1 Aug 2023 £ 60,275 |
Income £ 66,207 |
Expenditure £ (65,536) |
Balance at 31 March 2024 £ 60,945 |
|---|---|---|---|---|
There are no related party transactions during the year ended 31 July 2024.
6 Related party transactions
NOTTINGHAM CHINESE SCHOOL
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024
| INCOME AND ENDOWMENTS Donations and legacies Fee from individuals and other charities Total incoming resources EXPENDITURE Charitable activities Teacher Fee Rent Office Supplies and Stationery Gifts and Entertainment Text Book Travel Expenses Cleaning Work Staff Training Building Insurance Food Legal & Professional Bank Charges Pay To Students OTHER COSTS Governance costs Accountancy and legal fees Total resources expended NET (DEFICIT)/SURPLUS |
2024 £ 66,207 |
|---|---|
| 66,207 40,155 8,640 1,710 1,719 1,090 1,324 360 304 220 3,516 3,096 61 2,443 |
|
| 64,637 - |
|
| - 900 |
|
| 900 65,537 |
|
| 670 |