Ch81ity reglstratlcffj numr.. 2gM)398 Bishop Ho Ming Wah Association and Community Centre (Unincorporated Charity account) AjUal Repyt and Statements for the y Ended 31 Marth 2024 DSK Partners LLP D S House HkJh Street Croydon Surrgy CRO 1NG
Blshop Ho Ming Wah A8soclatlon and Communty Cantro (Unlncorporated Charlty account) Contents (conllnued) R8f8r8n¢e aThJ AdmiristratNe l)etads Truslee8' Repyt 2to8 Statom¢nt of TnBtees' Re$F>ClSties Independent Ex8mlne¢8 Rewt 10 statement of Finantial Acaivilies 11to12 Balanca Sh8et 13 Note8 to the FinancAal Statsments 14to24 Detalled Ststement of Financial Athvtties 25to27
Blshop Ho Mlng Wah Assoclatlon and Community Cgntre (Unlncory)oratsd Charity account) Referenco and Administrative Details Chalrman WY A Chan. Treasur Trust R O DemrriThJ yHEng W Y A Chan, Trea8uYer Revd Dr S kl Wal C Noman, (Resigned on 1st August 2023) Cmdr N A B AnBon, OBE. {Re*ned on 26th Sèpt8mbar2023> EMYKwong Patron The Most Revd Dr Paul Anhbishcf• Emeritus S Wether& Honorary Logal Advlsor Key Pernonnel Revd E Lau M Worvj G To and R T8ong Charfty Rag1$tIon Numbor Alminislrator Safeguarrlro Officern 290398 Registered Charitable Inc(wrated Organisation number. CE018858 Wobslto Emall uiry@bhThYa.com 020 7766 1141 Phong Prlnclpal Offico 6 St Marlin's Place London WC2N 4JJ Independent Examlngr DSK P8rtn¢rs LLP Chartered Acowntants D S House 3(h Hlgh Street Croydon Surrey CR0 1NG Bankor8 Bar¢lay$ Bank P 27 Regent Street PO Box 11345 London W12 8GG Page 1
Bishop Ho Ming Wah Assoclation and Communlty Centre (Unlncorporated Charlty account) Trustee5' Report The trustee8 present the anrKtal rert togpthw wilh tho ffinandal statoments of the tharity for the year ended 31 March 2024. The C¢)undl Members. are trustees ofthe for the puwes oftha Chartbes Act 2011, present their port with the finCial statements of the charity lor the year ended 31st M¥r¢h 2024. The Council embers have adopted the proS1onS of Ac£witrvJ Reporttng by Charftle8'. Statement of ReLY)mmendod Practice 8PFlh2ble to Chare$ PTeparfng the4r acuunts in ¥COrdan wlth thg Flnandal StarKl8rd aF)pll¢ele in the UK and ReputrAic of Ird8nd IFRS 1021 (effectiv6 1 January 2019}. MtSSlON AND VALUES At 8ishop Ho Ming Wah knsodalion & Community Centre (the AKIatIon). our mlsslon 1$ to enhance and Imprtve the qualtty of life of al re8ldeniS, PatKukrfy tha Chingso Ctr]unty. Sn Lorklon through 8UPPOrt, Influen¢e. Informauon ayj enrl¢hmenL Our values are deeFty rooted in our history arKI the compassionate (yrnitment of (Njr supwrtets. Our work Is open to everyone, regardless of thdr por8on81 fath, athnidty. or cullLYal bac4(ground. Wa belleve In a h18¢ appro, carfro for the lIe pww).. t. mind. and 4xrÉt Our commitment is to provide compassionate aThJ rvart ¢3re for those in need. OURWORK W• provida community $8r¥ic•8 thr88 man areas: (11 Support forthe tJslvantaged'. W8 offer sw)port to indwiduals facing Signrfunt disadvantsgas and thoso margSnaized by laNdva and ojftural baThiers in the communty. (21 Health and Welkness Advities.. We prewl a range of adihiles almed at promofing and enlowng an active and heafthy &fesbrfE. 131 Arts and Cultural Enrictrent' We offer OPPIlD for a dNerse community to enpje in arts and ¢uttur advities, fosterwig Soa o)h8sion and integration. A LOOK BACK AT 2024 2023 A6M 27 2024 Pag6 2
Bishop Ho Mlng Wah Associalion and Communlty Centre (Unlncorporated Charity account) Truste8s' Report (continued Associate Members enpjy the f¥iWies aTrJ titseS offered by the Asswation for free ¢X al preforentlal rates. As of 31st Marth 2024, the number ot A850oate Members had reached 1,175 induding 40 who jolnsd during thg y¢ar. Among indivKluat$ who disclosgd thoir personal details. 92% were aged 60 or above {2023 - 89%}. Th& gender ratio remained unthanged from la31 yew, 77% foma10 and 23% male. Ths èthnioty mix r¥tio 8tay8d ¢onstsn( wth Chinèsè ac•))unting forth¢ majority {84%1. Anyone over the age of 18 Can WAY to beccthe a vong Mwnbor ol thè A8souation. Votvig member8. o must be admitted by the Coundl. have the h1 and duty to attend and vote at General Meetlngs of tho AssocAation. As of31sk March 2024. the number ofvoting Membern was 82. mm Over Ihe past three years, have operated under the assunption that cw servic•s WO retum to pre-COVID levels by 2024. it h8$ beGon &vid8nt that th8 recovery vAlI take longer Ihan anticapated. Despite this, we are encouraged by the steady increase in member parbdpatim 81nc8 the centre reopened In August 2021. Although tr)e nber of rthrnltYJ members has been lower than ¢xpected. we have seen a signifKant IneaSe in new members each yew. In the 12 month8 to Marth 31, 2024. member participation has reached 74% of its prtrCOMD level, compared to 40% In 2023 and 25% In 2022. Since Augu812023, the Communky Centre ha8 been openéd four dgys s w•&k, from 11 am to 4 pm on Tuesd, Thursdays. Friday$, a£ Saturdays. The Centre has pLayed a cwcaal role in combating loMline53 and Soal isolation amongst its rnernbe by providing a ¥afe and relaxed envin)nm8nt for sociajising. m¢elng frlend$ and leaming new sklls. It ha$ been instrumental in helping individuats, &speallY Chinese immigrants, integrate into the local community whik presemng their Etur8E idenw. WNIg pmmoting Soc conn8dM and spirTt, we hav8 lOriSed helping the vulnerable and disadvantaged. We have continuousty impThied our seNcey based on membÉr suggèstions. In respons8 to the evolvlng need$ of the communlty, we have devek)ped new senrices am&$ at supporting the recent wave of Chlnese immigrants from H(wJ Kw. These efftjrts reflect our commitment to fo8tertny a 5UPPOrtive arKI wKIu8ive communty. We took forvArd to £tinUing our woth lo improvo th¢ qualty of Ilfe ofourmèmbern. Hoalthy Llvlng Programme prnoteS the Impta% of stswng actr¥• and ko&ping fi( wilh special attentlon to the needs of senl(Y adults. Here are tho key ¥Alvibes provided in 2024.. Lunch Club farylitatos soda11ry over food sharkng experience. SeNed 960 fre5hty cthked Chines&style lunches at the Centre over 46 session& Tai Chi oy)rnbines deep breathing relaxation with skw and movements. Running for over 20 ar3, it has bo8n th• most p)puLqr exèrasa class w members. Held 99 sessions. Ho•1th QIGong emphasises r)Jordinated mind and fomiat over rotating and stretching movements. 11 its intended for peOe vtho are unalAe to attend in-person £re8&s. Hald 38 onlim sassions. Dances are deslgned for people wh) enloy more vlgorw8 to music. Hekj 42 Ling Dance sosslons aNI 25 Latln Dan( So8On5. Yoga Inowl for#Jse$ on bcty cwrdination and caming of minds. Held 15 Seson8 8ln¢ October 2023. Page 3
Bishop Ho Ming Wah Assoclation and Communlty Centre (Unlncorporatsd Charlty account) Trustees. Report {continuod} Hoalth Talks we gwen reguLarty by profesSionS omring a variety of hea1lated topics from medical cond03 to a¢rEssiknllty publK resourrM. Hd 12 online and 2 inpr8on Se08. Nature Walks take keen walkers lo sniC walknng trai15. Organised 3 trips. CoroTrb]tiM Pffj(w 23) SumNw Wolk {Mty 23) Edu¢atkn and CUre Prngramm• promotes leaming and eNiLment wth 8Fal fccus on Chinese art and ¢)Jlture. Here are the key adN118 in 2024: ChIn0 Calllgraphy 1¢o¢h88 v8riou$ 1o¢hnkws of stylrled artlsbc Y(dng of ChSnesg ¢h8racl0rs using bN3h and ink. Held 32 seSons. Chlnose Palndng teaches teUeS to o)mpose draw different themès. Such as and bird8, using trSh and Ink. Hekl 17 lne and 4 iwwson ge$8ion8. WaI0r¢Ort2achaS the t¢thniwe8 of 8kelthTrJ and drawng using watercolour. Hdd 29 ¥e88ions. Chin¢s hland•rfn tea¢#w gYNetIonal forevwyday use. Held 39 hybrhj sesslu. Chal•aftyr4un¢h faalitales discussion amoThJ Membe on vwious topics of intere5( ranging from ujrrent affalrn to historic evants and cithjral (*toms. Hebj 3 IpS0n and 4 onlino se88lu. Soclal Connoction Programmè addr88 thè eSsIV n88ds of tho ChThse communlty. Hare are the key acUwti8s for 2024: Pastoral Carn prowdes various types of support to peoFAe through tlmes of ¢fficulty. This 3ervtGe has begn in high demarKI. 88peuany p081-COVID. Cp1a19 17 requ. Trnnslation Support prowdes translatkl) to dwments, mainly from English tr) CNn888. Th18 8ervic ai80 Involves maklng phono enqulrle$ apwfjrth)ents of var)8 naTe. Comwed 23 requests. Befriending tackles Ihe problom of lonoliness * bolalcffl am¢)ThJ okler Chlnese people Ilvlng in London. The demand for home visls has Teduced due to concerns about the continuing spread of COVID. Attended 5 requests. Other Support to member8 Inthdes tabxed IT bainiw for senior adults and other 8UPFA)rt. Pag8 4
Bishop Ho Ming Wah Assoclatlon and Communlty Centro (Unincorporatsd Charlty account) Trustees, Report {conllnued) L4viffj IN UK w¢wkshop (J 23) P( f•r NEW Homt lth (Jan 24} thnese Year knKh {Feb 24) Wgl¢om• Programme support8 arrivth from H¢xwJ KorvJ uThJer the BN(01 Ba s¢homo. Here are the key activiles proided in 2024. Llvlng In tho UK Programme addresses common corrnns immigran1$ fa¢9 whon $elMing in a new country. The Work & CLdture" 2024 series dolWed two wort8hopB on personal taxalion. Engllsh Buddy Schemo pairs indM¢knls wrth native spogk9r8 to pTrcti3e Conversatical Englsh. Food for Now Hom• Project lackl68 fclxl p)verty and socaal isolaion ¥thile also k¥omoting m&ntsl health and wdlbeing. Over a six monlh Feric¥J. proi& welo)med 246 individuals, provided 684 mes. dlslrllxrttrd 468 food parcels before b&in9 complètèd In Febrnry 2024. This projed was funded by the GLA Communlty F. Page 5
Bishop Ho Mlng Wah Associalion and Communlty Centre {Unincorporated Charlty account) Trustee8' Report (contlnu8d> Fln nela r•vlaw Total In¢ome In 2024 ¢amg to £64,423 {2023 - £49206). income has been w)redidable and wa$ substsnts'ally less than Last ye&. Icrtallng £10,826 12023 - £16,191). InvJme generated from charftable a¢iNlJe$ was £25,442. refleciThJ an incleaslng paitiupatk)n (2023- £18,276). We had the good fortunate to be awarded a onfroff from the GiA Community Fund. which was re8lri¢tsd to tho purpose of welts)me 8NIO) Msa holders from Hong Kory 12023 - £01. A(hJitbnalty, we raised some ad h(t Income thr{gh hiring Out space to extern ¢)JmrNnity everts. totsjling £8,102 {2023 - £11,174). Incom¢ fr¢)m Investsnents was swThlar to last year at £5,923 {2023- £5,743). Total operatlng expendIre in 2024 Inrxoawj lo £104,74012023 £75,550). ¢Mng primarfty to the exceptlonalty high cost of Ilving. Staff costs rose by 7% to £37.528 12023 £35,010). Premises costs Increased by 16% to £30.498 (2023 £26.2141. Charitable expenditure of £23,T71 comprised direct costs of both ragular activities and Oroff project exrRnse 12023 £10.3921. Office and govemance c051s of £11,606 induded a 8ub$tantiaE FYofe88iong1 feo of £10,CrfXI for an Independent re3e¥th SdY (2023 £1,438}. We eThJed this YÈ ilh an operatwig defidt of £40.317, b&tre 8n unTealised gan on Investment of £56,235. The ¢xn4Jined resum wa8 In9$0 In totsl fvnd5 by £15,918 to £397,277 8$ of 31 March 2024. dl The Assoclation ha8 an unrostrfcted reser¥E in the foffli of Inves1. In 2024 invoStm8nts wara ]d in a mix of fvnds that can be realised prarAicalfy d. UK ewlU&s115%1 and glthl equlties185%1. In order to o)ver Ihe operating deficit, ¥?$nI units were sohl the year raisirF a total of £41,0(Xl. The Coundl's polw is to retan uNestrictèJ flnarKe8 at 8 knal adaquata to megt the Community Centre'8 usual operating costs for rune months, as wel 8$ any emergency spendirBJ that may arise. The Investments Fund 18 a designaled fuTrJ that invests unrestrioed cash In short to m8dluTrtenn investments. Th& are to Mntain an nual (nvestrnent retum of 4% 10 5% a150 maklng thnds available forwvxlrawal to satisfy planned or unexpecled (xsh fl(M r6qutr8mants. PLANS FOR THE FUTURE In November 2D24, the A88ociakn IMI m•rf( 11$ 40th annIrsary, celebrating fr decades of transformative work for Chinese Immtyants in L((kn. Ovar th8 years. ow work ha3 evofved fJYJm hdyng Cantonesevspeaklng CheSe immlgpants access putlic resources lo fostering a supportW• and Inclusive community. Wa prioritise helping the vutherable and disadvantaged whlk also promoting 80cial connethn and communty spiriL The Assoc4ation's joumey refieca3 rt8 c>)mmitmnt to Improng the Iwe8 of thousands of Chinese immigrants. gAJpporting them 88 Y buikl new lives in Lonth)n. Desptte ¢)ngoiig ptssltive f8adoack from s8rvice use, demand for current serMce8 has be in declin for some tlme due lo an ageir4J memberslip. Furthe, the comts"n&d gffg¢1$ of post4OVlD and tha cosl-ofvllvlng crises have onty exrbated the Assc¢ithn'8 financial ehg118nges over the last three years. The recent infflux of BNIO) th holdws from has presented an exdting opportunity to Sem thè now pOtti usars the thsandS. OLf (trent Services and operatry model, however, Is not adequate for meeting the rMpLeX social need3 of the rwi wave of ch6$0 immigran Page 6
Blshop Ho Mlng Wah Association and Communtty Centre (Unlncorporatgd Charlty account) TnHtees' Report (contlnued) In response to the orgar4sation'$ Urgtt for davent against a thallengiNJ 0pora9 environment, the CounLiI has inrbated a strategic projèct to PO8thon thè ASSOatIon for fLthire growth stabllity. W¢)t began in ¢aty 2024 wth the comMionIng of an independent U8er study to enable us lo identify needs and priorities. as wdl 8$ an aW$SnI of the u4rrent bu$lne$8 model'$ strèngths and limitatron$. Th8 noxt phase of this 3trate¢ic InatiVe ill act on the immediate priority of recruiting trustees, volunteers and potential staff, who have the right grtyth mlnd8et and abillll98 to load tho tr8n8fomiadon. In the conNng year, in additb)n to maklng ong(xn9 improvomerts to eXk8bng ¥$Mc$ for oldor adutts. wo are delOPIng new rKogrammes that are fvcal and eff8divè attracting nthy immtgT8nts. Addressing mental health needs has been id8ntified as an Importanl theme in both areas of work. Forniing èffèctiW8 partner8FP8 With Dther¥ wlll be uucAal to makmg this happen quKkty. Filling gaps in our competence and c9paty, 88 w811 a8 thg PQtentlaF benefft3 of levwaging a successfijl OaboratiOn. Another irnportanl area where we wll concentrate our efforts 1$ to streamlln& bu8ines¥ operation$ by repLgdng manual pro¢esse$ with technology $(Aution5. STRUCTUR4 GOVERNANCE AIID PAANAGEPIEMr Gov•rnan Docum The Assodalion 1$ a chathab Irthwated OrganIsat• [41$ted ilh the Charriy Commission. frsl registered as a limited company charkty on 5th August 1984. It is governed by the CharitaNe In¢orporated Organisation constitubon approved on 17th Novomtw 2018, rgpl81ing th$ A9$ of Aswation datod 11th Novembtrr 2017. Anyone over the age of 18 can become a Voti member of the Association, and there are ojrrentty 82 voting members. New Council Members are elected by the vdry m¢mWs attonding Iho Annual Gen¢rdl Meerj and serve for a rtod of three year3. If a Councl IAember haj been nominated. ebected and appointed by Council at its meetiThJ to fil a y8neY. tho c1 Member w apPOted shall reb.re and b? f&ole¢ted at the next fo[lIng Annu General Meeting. person re1ires as a Counco Mèmber by rotation or by givlng notice lo the A88ouatKin 18 for rfrde(hJn. The Council. tilCh must at least have fve member3 but Trjt exceeding 12, administer3 the A8sociation. Counal Members rvjrmalty meet qu*lerty and thert a trCorrnitt ov8r5eoing financo, s¢rvlco development and governan matiers. Supportad by a smdl tsam of staff. th8 Chair of th& Council manages tha day-to-day 01)&ration of the A88oaafTron. The Chair has delegated aulhority. wthln lem8 of delegation approved by the Council, for Onal matters indu(firvJ frn¢8, employment and servlce delivery. Imam None of the Council Members re¥8 remwwation or other b8nefft from th8ir wort ¥th the Associalion. In 202&24 no r8181•&party tran8a¢Uons were rerted. Page 7
Blshop Ho Ming Wah Association and Community Centre Iunlncorporatsd Charity account) Tntee5. Report (continued) Rlsk Ila In condu(Alng r8gul8r of th& rld(s that ts Associati( facès. lh8 Counal ensure8 that appropriate actions ¥e taken to miéigate risks. They ar8 satisffied that policles, 8yStem8 and w)cedure8 a estsblighed to wovide a reasonable assurarKe against the pmcipal risks idenlifi8d In the wlew. Insurance cover 18 In plac% and the finan(¥al ¥uslalnablOty of thtr Assoaalk)n is dosdy monitored. Any 188u8s and concems with hoatth & sofety saf8yding mattors are deatt vith prompuy, In linè wkh our poli¢i8s. Our budgets. fLYecasts aThl work pkn5 have taken into a(wunt thp opportunTbe8 and challenges th& As3oaation fa# agnSt the bad(drop of financ UfKrtsinties. The Coundl 11 monitor dosely the higlFimpact, hwJWrobat4ty risks onsur1 akyowlate acaions are taken prompty to mitigate th8m. STATEMEFU OF PU8UG BEMEFtr Council Membw8 have pad due regard to the guidance on put4ic ten8fll woduced by the Charity Commlssion and are confident that the wcrfk ofthe hsscath meets a Ihe eriterfa for wblTrc befiL THAMK YOU We are really gratthl for the genwosity of KnderJ1 SUPF4xth. Yw hwe helpgd make posslblg a number of helpful and Important projects and ImrKovwnents kn Ihè past y&3r, whkh have had a benefioial iMpt on the Ilvos of people who hav¢ us¢d our semces. In Ihis tough ecorKsmlc dimate, we are very appreCIate for your orwing support. New HNtiatives, particuL8rty those vllh long4erm impac*, can lake l¢)nger lo plan and implemenL We neod r$e$ lo gnsurn Ihot can go forward Ydhle a150 being exib18 in th& fac8 of unanticipatad thaThJes (YIt'do our ccth. We value your eonthtrArtion, whelher * be a mon8tsry or lTrkknd d11, or VLnteering for frontllne or admln1strave actlwllos. Thank you. The annual report was apwoved by Ihe InJst8es ef the dwrfty on ............._..... aThJ slgned on its behalf WY Aciian haiiman and trustee Page 8
Bishop Ho Ming Wah Assoclation and Community Centre (Unlncorporated Charlty account) Statomont of Ttea5, Responslbllltles The trustees are responsibl8 for wèparfng Ihe tntstees, report the ffinanCI statements in accordance wlh the United lQngdom Accxjunting Stondards (Utthed Kjngdom Generally Accptsd Accoun1ing Practice) Spleae law and reglonS. The law applble to charrbsY3 r8qulres the trustees to prepare lknamial statemenlB for eaci financial year wtu¢h glve a true ar fair wew of the stale of affai of the ¢harlty and of thg Sno)nwn9 reue¥ and apptication of resources of the tharity for that period. In weparing these finaal statements, the tru5te&s are required lo.. sele(A sultsbie accountiThJ lUeS and Ihen them c4)nsi&8nlly. observo the m¢th¢& and prinleS in the ChtieS SORP.. makeludgements and ¢stimatg$ Ihgt are rp83onatAe th prudent: state whether apFAicabk acwjnting standards havè ts48n follcew&d. subiad to any m8tsri8l dèpathr08 dlsdosgd ew81r1 w) the financial Stateme. and prepare the )Inanual Statem on tho gcAng f>xcem b¥sls unl888 it 1$ Inapproprtate to prUMe Ihal tho Charity wll wntinue in business. The trustees are rw)on8bt le for keeyng proptt a¢¢titij reccth that dlsdose th reasonaLle accuracy at any time the financAal positson of the dwfty and enable fhem to ensure that the an(jaI statemantg comply the Charities Act 2011. the Charlties (Accounts and Reports) RggulaUon$ 2008. and the provisions of the ¢onstttutk>n. The trustee8 are a150 respon51bbe fr)r safeguarrfing the assets of the charity and hence for taking reasonablg steps for tho Fyovgntion and dgtgctii)n of fraud and other lrrewlarQS. The trustees are responsible for tho maIntenar and integrity of Ihe corp(xate and finanaal infomiation cludod on the tharilable companvs bte. LagiatIon goveming ts pr8paration and dissonatIOn of financial stateThnts may drffèr from legtic n 0ther1urdiCon Approved by the trustees gf the ctsrtty on .................... arml S¥Jn its i01[ by.. WY Achan Chairman and tru818e Page 9
Bishop Ho Ming Wah A8soclatlon and Communlty Centre (Unlncorporated Charty account) Independent Examinerfs Report to the trustees of Bishop Ho Ming Wah Association and Community Centrè (Unincorporated Charity account) I report lo the trustees C my examinatth of the amnts of Bishop Ho Ming Wah A8¥tiC48tion and Communlty Centre IUnincorporale(I Chanty wx)yrf) for Ihe year end 31 March 2024. Re8pon$lbllltl¢8 and basls of rnport As the tharfty trustees of Bishop Ho Uthg aTrJ Comunity Centre (Ur4ncoryJrated Charity account) you are responslble fty thg proparation of the ac£ounts In acc#)rda) vthth the TequIrnénts of the Charltie8 Act 20111lh8 Acf). I report in re¥wt ol my examination of the Bishop Ho Mlng Wth Assoriation aThJ Comrnunity Centra (Unincorporated Charfty actsjunv's ac(XMJnts card +>Jt under secaion 145 of the 2011 Aot and in carry• out my examination I have fol[rAY1 al the awlcable DrecnS grven by the Charmy Commiuion under 8eclion 145(5)(bl of the A¢&. Ind¢pend•nt &x•mlnèr'$ stst•meni I have completed my examatiOn. l ojnfffm that no materlal matters ha¥8 come to my attention in ojnnection wtth the examination gr¥mg me cause to bee¥e that n any materlal re8pecL' . 8ixountirwJ T8(rdS were not kept n of Ho Wah Assoc4ation and Comnwnity Centre lun1n0rat Ch8rfty 8c%Junt} as required by seclion 130 of tho Act., 2. the a(ounts do not acrd wth thJ8e rrdS., or 3. tho a¢xounts (lo not compty wth the acTrXntu requir8mwts rxKeming the fcrfm and contsnl of aounts set out in the Charities IA¢cwnts aml Reports) Regulation5 2008 other th8n any requirement that the accounts glvo a gnd far viv is not a matsr o)nsid8red as part of an I#pendent &amInation. I have no ncernS have ojme acrosg M oth8r mattars in CA)nnectbJn with the examknation to whlth att8nlton should be thls reFK)rt wi order to ¢Ie a proper understandkng of the aUnts to be reachad. Romit Basu FCA DSK Pathers LLP D S House 306 High Street Croydon Surrey CR01NG Pago 10
Blshop Ho Ming Wah Assoclatlon and Communty Centre (Unincorporatad Charity account) Statement of Flnanclal Actlvllies for the Year End 31 March 2024 Unr•strl¢ted fund¥ Restrlctod D[gnat8 G•n•rnl fund Total Income and End0onts from: Donations and legac4es Charitable aclivitie8 Grants Received Investment income Other income 10,826 10.826 25,442 16.543 5,¥23 5,689 16,543 5.921 5.689 Incomo 5.921 41,959 16.543 64.423 Expondlthrs on.. Rablng funds Charrtable activ88 {2,377) 84.680 12,3TI) 102.363 16,730 Totsi EXpendIre Galn¥lo$$os on inve¥tment assets (953) (87.0571 116,7301 (104.7401 56.185 56.235 Net IncomellexFitUr0) Grosy tran8fets bets%Een fvnds 61.153 (51.410) {45.0481 51,223 11871 187 15.918 Not movemont In 9.743 6.175 15.918 Rg¢on¢lll•tion of funds Total fL)d8 brwghl fcrnard Totsl lurKI8 carr¢ed forward 313.891 67.46B 381.359 14 323.634 73.643 397.277 The rths on pagès 14 to 24 fomi 8n nttagr81 part of these financial statements. Pag¢11
Blshop Ho Mlng Wah Assoclatlon and Communlty Centre (Unincorporatod Charlty account) statèment of Flnanctal Actfvltles for the Year Ended 31 Mar¢h 2024 (continued) Unrestrlcted funds G•n•ral Total 2023 Incom9 and Endowrnenls frnm: Donatlons and1gga¢los Chaitabb activit8 Investment incLJme other Income 16,191 16.276 16,191 16,276 5,743 10,996 5.743 10,996 Totst Incom8 5.743 49,206 Exponditurn on: Rai8iThJ fvnds Ch811tab activitbs (1.334) 11.3341 950 Totd ExpdItU GalnslkJsse8 on inveslrnentas8ets <950) 11,e66 (74.6C#JI {3 f/S.550) 11,669 Net expendriure Gross transler8 bots¥een fund8 {6.873) 34,350) (31,140) 34.350 138,013) Net movement in funds {41223) 3,210 138.013) Reconciliation of funds Totat fvnds brought forward Tota fvnds Carried foNMd 355,114 84,258 419,372 14 313.691 67,468 381,359 AJI oflh& ch8rW8 athrttos from c4Jntnwry owalions during the al two perlods. The fijnds ead¢)¥M for 2023 1$ sh1x in rTroto 14. The noteB on pagos 14 to 24 fcKm lrtegrd part ofthese ffinan¢ia statements. Page 12
Blshop Ho Mlng Wah A88oclatlon and Communlty Centre (Unincorporated Charfty account) (Reglstratlon number. 290398) Balanco Sheèt as at 31 March 2024 2024 2023 Nots Flxgd asgets Tangibl& assets Investments 10 371,903 371.906 356,668 358.671 Curront a8sets Debtors Cash at bank an¥J h hand 11 12 4.874 27,191 4223 28,6S3 31,865 30.906 CMdltor4: Amounts tsulng duo wllhln 0Thg y Not curront a8sats 13 6.494 6,218 25,371 24,688 397,277 381,359 Funds of tho charlty: Unrg¥trfcted inGomg funds Unrastricl•J luThJs 397.277 381,359 Totsl fvnd$ 14 397,277 381,359 The fin8noal stat8m8nts on paggs 11 to 24 appfov•J by ts tJusts. aThJ authorised for is¥ue on . and on ther behall ty. WVY Achan Chairman 8nd trustee The note$ on pages 14 to 24 form an integral part of these finaThial statements. Page 13
Bishop Ho Ming Wah Assoclafjon and Communty Centre (Unlncorporated Charlty account) Notes to the Flnanclal StatAments for the Year Ended 31 March 2024 1 A¢countlng 1[¢1 statement of compllan¢o The TInaral statsments have Ixen WepB in a¢nc£ with the secyjnd &tIOn of tr Charftles ststèment of ReCmended Practice issued n Occthr 2019. tho Flnandal Reporung Standard app5iGable in the United lQngdom and Republ of Ireland IFRS 102) tho Charthos Ad 2011. Basls of preparatlon Bishop Ho Ming Wah Associalion and Ccrfnmunrty Centre (Unincorporated Charity account) meets tha definitK)n ol a pubk benefft entty under FRS 102. Tho artounts (fin?rAal 5talements} have been prepared und8r the historte o)st nventiOn wlh item8 recajwised at cost or transaction valu8 unless otheNse stated in the relevant te{s} to these accounts. Golng con¢•rn The tru3tee8 (Sider that there are no mate)lal UertWntie5 tt thè aNlty to conOnu& as a Ing con¢orn. Incomo and •ndoTn•nts Voluntsry income indudir¥J donations. grfts. legac4es grants that wovld& fvndiThJ or are of a genaral nature is recogni8ed when the chaFity has entitlement to the Income. It Is probable that the income will be received and the amount Can be me88ur8d with sufficaent reliability. Donatlons andlegacles Donath)ns and Jegacies recniSed on a receiv ba81$ I&Ipt b probable and the amount ¢an be reliably measured. Expendlturo All expenditure Is re$d once there b a kgal or cx>nslruLth 0On to that 8xpondibJr8, r( Is probable sotuèment is requirad and th6 amount can be measured reliabty. AJI costs are allocated to the appllcable expenditure heading that aggregaie SImar costs to that fxtagcry. Vvhero costs cannot be dir¢¢tty attflbuted lo particulw headgS they have been allo(*d on a basis consistent the use of resources. wtth central staff Costs alkncatad C the Ws ol time sperrt, and d8pre¢i8th'on chArg88 l¢xated on the kY)rtion ofthe 8ss81's usa. Oth8r SUpt costs are allocated based on tho spread of Stsff C08ts. Ralslng lunds These are Costs Incurred in attracting voknnlw inwm8. th& management of investments and th089 Incurred in tradlng atieS thal raiso fund& Ptye 14
Blshop Ho Mlng Wah Associatlon and Communlty Centre (Unlncorporatsd Charlty accountl Notes to the Financial Stataments for the Year Ended 31 March 2024 (¢ontinued) Charttable a¢llvlUes Charitable expenditur& MpriseS th08& 0)sts inojryad ty ¢harfty In the dellvery of Ms a¥hIe8 and services for itg b8n0ran0S. 11 include5 both costs that can be allocated d1cliY to wch actiirilies and th08e c03ts of an indir8c natur& ngce$80ry to SUPFXt them. Govornanco costs These Include the costs atlribtjtable to the complIan with oin¥lthlional and statutory r8quir8mènts, Indudlng aud¢ strategic management trustees meetvigs and reimbursed expense$. Taxatlon Tha eharfty is consklered to pass the tests set out in Paragraph 1 Sckned 8 of the Finar>ce Act 2010 and therefore it meets definrflon of a charitatrAe company for UK corporation tax purposes. According. the charity is potenlialy oxgmpt from taxab.on in respgct of inwme or cawt31 gain¥ rg¢xived wlthln ¢alegorbs covered by Chaptw 3 Part 11 of the Ccffporation Tax Ad 2010 or Saction 256 of th8 Taxation of Chargeable Gain$ 1992, to Ihe exiwbt th818uth income or gains are 4)pfied éXdVèIY io charitable purrx)8e8. Tanglblo fixed os80ts Indlvodual fixod c4)sting £1.00 more are inibalty rfKoTded at o) Dsprè¢latlon and amoTUsallon Depredatlon Ss prowded on tsngible fixed assets so as to I71e off the cost or valuation, l&ss any estimated red81 value. over their expected u8eful econonmc Ife as fcAIows.' Asset Cl$ FLxturès & Fitting3 Office Equirmnent ComFXrter EqUient Dgprnclallon m•thod and rato 25% Straight linè 25% Straght line 2S% Straight n8 Flxed as$ot In¥•¥lments Fixed 8$8et in¥estsTrents. other than progrMe rel*d investrnents. ar6 induded al m¥ket vaue al the balanc8 8h8et d8te. Realiwl gains and losses on investments are calcxjiated as the drfference sales woceeds and fhelr market v8Jue at the start of the r, or their sub8equent cost. and are charged or credited to the Statement of FInana Activitias in thè pwiod of disposal. Unrealised gains and losses repr8s8nt movement kn market vakw durfng Ihe year and arn Creded or tharged to the Statement of FInanCA Acthes bawl tr market V91u& at the year Orn1. Page 15
Blshop Ho Mlng Wah Association and Community Centre (Unlncorporatsd Charity a¢count} Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (continued} Trade debtors Trada debtors are amtsunts due frrAn rAknws for merchandise 80hJ or Services performed In tho ordinary cour3e of bu81ne¥s. Trad8 d8btor8 8r8 recognis•J initialy at the tranBal prkn. They gre sub$equendy measured at amortlsed cost uslThJ the effedve inieresl meththa, less PTOViSiW for Impairr. A provlslon for thg Impalmnt of trade debtors Is establi8had there is objective eMden¢e Ihat the chattty will not be a&4e lo oJllect 811 amounts due aCrthn9 to the temjs of the recthables. Ca$h and cash oqulvaknts Cagh and cash equfvgnts conwrise cash on hand aThJ (zll osits. gfKI other Short-temi hvJhly Ilquld Investments that are readfy (Thverbble to a knrywn amount ot and are Subject to an insignlfftcant rlsk ofchanga In value. Borrowings Intareskbearing boTTOWtngs are tnibally rerthed at frdlr V8e. net of transach)n c08ts. IntereBt-be8ring borrowngs are subsequenuy carried at amorb.sed ¢osL wrtt) the difference betsveen the proceed$. n8t Ctf transadlon costs, aNI th8 amount on redemplion being re(%)g88 88 a charge to Statement of FInana Ac11eS over the period ofthe rele1 irrI>ing. Intere¥l expense 1$ Ygwgnls¢d on the b$ of the effetv8 inlere8t and is inced in intsre81 payablè and Milar charges. BOrrn9$ aro da$8lfied 88 Crant liqblties unle88 Ihe tharity has an uncondittonal right to defer 9gtUement of the Ilability for at st twelve mmths after th& reportirvj data. Fund structurn Unrestricted income fvnd8 are wr81 ld8 that are aval&4e for use at the trustee8 d18crgYon In furtherane of the objeralv08 of thè ¢tharity. Designated fLmds ar8 unr&strictad fuKls s81 ashjè forspeufic purrx)ses at tho di8cretion of the trustsa Flnanclal In$tnThnts Classifi¢atlon Financid assets and finanoal Ilabfftkn are reo)gni8ed the thwity becomes a party to the contractual provisions of the InstNment. Finanaal liabillties and •quty instruments are das51tsJ a¢o)rLlng to the $ubstance of the contractual arrangem$nts antered into. An eqLuty instwment IB a)y ¢ontract thal ebidences a residual interast In the assets of the c*badty after deducttng 811 of its Ilabilties. Page 18
Blshop Ho Mlng Wah Assoclatlon and Cornrnunity Centre (Unincorporated Charlty account) Notos to the Financial Statements for the Year Ended 31 March 2024 (contlnued) Investments Investsnenls in non-con¥erfibk prefere shares and ¢ydinary or pr0fWvr ghoreg (wh8re Shares are traded or thety fair value t5 relialAy measurable) are measwed al fair value through profft or loss. Where fair va? cannot bs Measur rdlabty. inve31nts are mossurod at $1 le$$ irnpairmenl. Investments in subsidiaries aThJ as5c4ith aro measweil at Q)8t I Impg1rn1gnL For investm8nts in subdIae$ 8f4uSred for ¢onsideralon [rudIng the issue of shares (walifying for merger relief, cost Is measured by referen to the rnmlnal value of tho shares issued pk4s fair ¥ue of other consideratl¢)n. Any [xemin is ignored. 2 Income from donatlons And bg•clo8 Unrnstrltrtgd funds Gvngral Total 2024 Tt)tal 2023 Donations 8nd189aaas', Donations from individua]s 10.826 10,826 10,826 16.191 10.826 16,191 Donation$ wefe cash gifts from iTrJNKluals or ¢xgtri881ion8 that the A880&ion could use for any purpose wilhln its chaTftabl• ci•rts. Page17
Blshop Ho Ming Wah Assoclation and Community Centre {Unlncorporat8d Charlty account) Notss to the Flnanclal Statements for the Year Ended 31 March 2024 (continued) Income from ¢J)nath)ns 80 ft9 ond gants from inrfwidual Corp doTrJrfs, trusts and foundatlon8. 2024 2023 Blshop R O Hall Legacy Fund LTL iam Margaret Lo¥118 Wiliam Lee 1,000 1,000 500 1,000 655 500 Sl Pauls College Teresa & Sandra Ng FlOtine & Charfes Ll 5.lJOO 500 528 Hul Sim Y¥* Kemn Chan 600 ArthurT W81 Chan Martin Lee In memoryofwc LI Other donabc 1,187 4,123 3,036 Total £10,826 £16.191 The charfty Ieffl$ greaty from the invofvement of ils many v¢4untaw3. The ecorK>mt contrbution of genernl v01urrtrS is not regnISed h the acrKAJrrts. Page 18
Blshop Ho Mlng Wah Assoclatlon and Community Centre (Unincorporated Charlty account) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (continued) 3 Grants Ro1¥•d Total fvnds funds Grants 16,543 16,543 TrAal for 2024 16,543 16,543 The Associatbjn receNed grants of £16.543 from the GLA Hong KorvJ ComrrAJnity Furvj, aimlng 81 nY arrived BN(01 vlsa holders. Thls one-off grant was restricted to spending on the for the New Home pmJ*ct, which was succossfully ¢ompl&tod on 3 Febftwy 2024. 4 Invostm•nt Income Total 2024 Totsl 2023 Dg¥lgnatod Intsre81 r1Vabl$ ar¥J simllar incoma", Interest receivable on bank deFK)¥its other in¥esfrn8nt inCMe 5.¥21 s,1 5,743 5,743 5.921 5.¥23 S Angfysi$ of gOv•man and support ¢osts Govèrnance ¢o$t• Unvostrl¢tsd fvnds Genernl Total 2024 Totsl 2023 Independent examiner fees Examinal'on olthe finan(yal statements con$tanCY Foes Oth•r governance costs 930 10.000 676 930 10,000 676 930 508 11.606 11.606 1.438 Page 19
Bishop Ho Ming Wah Association and Community Centre Iunlncorporated Charity a¢¢ount) Notes to the Financial Slatements for the Yr Ended 31 Pllarch 2024 (continued) 6 Staff )Sts The aggregate payri41 costs werg as folk)?: 2024 2023 Stsff ¢ts durlng the yoar *r•: Wages and salaries Sodal $e¢urfty ¢>)sts Pen8iOn ¢08t8 34.280 2.220 1,028 37.528 32,037 2,012 35,010 The monthly average Nmber of p8rson$ [Indj w¥or maw8ment I leader8hip t88ml employed by the chaiity during the year expressed as ful limo eqiivaents was a$ fobxF'. 2024 No 2023 No Average number ofempbyee5 No employee received emduments of mre ljwi £60.000 durfng tho 7 Ind•p•ndént ox•mlnotr8 rwnunornll¢n 2024 2023 Examination of the nclej statements 930 930 8 TtIon The Glwity 1$ a registered ¢h¥lty and Is thwefore exenwtfrom taxatlon. Page 20
Bishop Ho Minll Wah Association and Communlty Centre (Unlncorporated Charity account) Notes to tho Financlal S&0m•nts for tho Year Ended 31 March 2024 (continued) 9 Tanglblo Ilxod assots Fwnliurn and equlpment At 1 Aprtl 2023 At 31 Marth 2024 62,538 62.538 82,538 62.538 Depreclatk>n At 1 April 2023 At 31 March 2024 62.535 82.535 62.535 82.535 Net book Value At 31 March 2024 At 31 March 2023 10 Flx£d •t Inv#1m•nts othor Inv•sbn•nts Llsted Unlisted Imieslments invlmontr Total Cos1 or Valuat5on At 1 Aprfl 2023 Revaluation Disposal8 197 50 356,471 56.185 41,OOD 356,668 58,235 41,000 At 31 Mar(* 2024 247 371.658 371.903 Net book valuo At 31 Mar¢h 2024 247 371.656 371.903 At 31 Marth 2023 197 356,471 356.888 Page 21
Bishop Ho Ming Wah Association and Communty Centre (Unlncorporated Charity account) Notes to the Financial Statemonts for the Year Ended 3114larch 2024 (contlnued) Tho market valw oflhe Investm& at 31 March 2024 were 8$ fdl¢)ws'. 2024 2023 Barclays pl¢ Shares Blackrod( Chakil•8 UK Equty Fund Vanguard FTSE Gkjbal Vanguard ESG Devekyed Worfd Fund 247 197 $4,802 192,210 124,644 53,246 197.883 105.542 Total 371,903 366,668 11 Debtors 2024 2023 Othar debtors 4.674 4,223 12 Cash and ¢ash equlvalents 2024 2023 Cash on hand Cash at bank 773 26,418 27.191 80 28,603 26,683 13 Cr•dilors: anunt5 falling du• wlthin one y•ar 2024 2023 Aru4 6,494 6,218 Page 22