Company registered number 2350280
## **THE CHURCH OF GOD IN UK (Formerly known as Overseas Mission Christian Fellowship Ltd)**
(Company registered by guarantee no. 2350280, registered charity no. 298835)
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
NfP Accountants Ltd
## **THE CHURCH OF GOD IN UK**
**(Company limited by guarantee no. 2350280, registered charity no. 298835)**
**REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2023**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative Information**|1|
|**Trustees' Annual Report**|2|
|**Independent Examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Statement of cash flows**|8|
|**Notes to the financial statements**|9|
**THE CHURCH OF GOD IN UK**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 March 2023**
|**Registered name**|The Church of God in UK|
|---|---|
|**Company reg. no.**|2350280|
|**Charity reg. no.**|298835|
|**Registered office**|18 Croydon Road|
||Beddington|
||Croydon|
||CR0 4PA|
|**Trustees**|Tsz Lai Choy|
||Oi Wang Tam|
||Kam Yiu Tsang|
||Choy Kwai Lam|
||Kam Tong Lau|
||Wai Kwong Leung|
|**Company secretary**|Kenny Weng Seng Lock|
|**Independent Examiner**|Charles Ssempijja, FCA|
||NfP Accountants Ltd|
||Chartered Accountants|
||3rd Floor, 86-90 Paul Street|
||London|
||EC2A 4NE|
|**Bankers**|HSBC Bank plc|
||421 Brixton Road|
||London|
||SW9 8HE|
1
**THE CHURCH OF GOD IN UK**
## **TRUSTEES' ANNUAL REPORT**
## **For the year ended 31 March 2023**
The trustees present their annual report and financial statements of the charity for the year ended 31 March 2023. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity's governing document, and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, as updated on 2 February 2016 (SORP 2015), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Taking advantage of the small charities provision in Section 4.6 and 4.22-4.26 of the same SORP, the trustees have reported income and expenditure on a natural basis.
## **STRUCTURE, GOVERNANCE, AND MANAGEMENT**
The charity is a charitable company limited by guarantee and is governed by a memorandum and articles of association dated 25 October 1988.
## **Purposes and aims, and principal activities**
The objective and principal activity of the charity is the advancement of the Christian religion, for the public benefit, through faith-based activities, including congregations, visits, cell groups, youth development, Sunday school, and other charitable activities.
## **Policies adopted for the induction and training of Board of Trustees**
Where need is identified, new trustees are selected mainly from within the Matured Christians in the congregtaion. Current Trustees identify other members of the congregation who are considered to have the necessary skills, interests, and spiritual understanding of our Christian teaching in furthering the fatih of Christianinty through various charitable work.
## **Related party relationships**
The charity has considered the disclosure requirements of the SORP for related party relationships. The charity has no related party connections with other organisations. The trustees consider that the members of the board and their close connections to be the only related parties of the charity. Details of trustee expenses and related party transactions are disclosed in notes 4 and 5 to the accounts.
## **Risk management**
The Trustees have considered the key risks affecting the charity and are satisfied that measures are in place to mitigate those risks.
## **Achievements and Performance**
As of March 31, 2023, our UK congregations have achieved remarkable growth, surpassing 900 attendees, marking a substantial 33% increase compared to the previous year. Furthermore, we are grateful to announce the establishment of seven new branches in Birchwood, Cambridge, Glasgow, Grimsby, Liverpool, Stockport, and Widnes, bringing our total branches to 18, spanning various cities and towns. Our services now reach nearly 400 families in our community.
In response to the rising demand from Hong Kong immigrants seeking to make the UK their new home, we have invested in new properties in Dundee and Nottingham. Additionally, we have rented schools and public halls to offer a diverse range of charitable services and activities, catering to the diverse needs of our community.
2
**THE CHURCH OF GOD IN UK**
## **TRUSTEES' ANNUAL REPORT**
## **For the year ended 31 March 2023**
As we look ahead to the next one to two years, our vision is to further expand our presence, with a target of reaching a minimum of 22 cities and towns across the UK. Our commitment remains steadfast in providing comprehensive support, encompassing social and spiritual assistance, to all those who benefit from our services.
Full time Volunteers have been helping the Church ministry work many years in preaching, cell group and other Church activities. Without this life line the Church ministry work would not have been possible.
Therefore a very big thank you to all our full time Volunteers, in total have contributed over 44,000 volunteered hours in 2022-23 (2021-22 – 10,485 hours).
## **Statement of Public benefit**
The Board of Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
## **FINANCIAL REVIEW**
## **Financial Position**
During the year the charity incurred net expenditure of £160,730 (compared to net expenditure of £32,277 last year), reducing total funds from £529,563 to £368,833.
Total income for the year amounted to £193,504 (2022 - £106,643), including donations (mainly from members) of £163,314 (2022 - £95,907), gift aid claims totalling £17,812 (2022 - £7,538), and bank interest income amounting to £6,930 (2022 - Nil).
Total expenditure for the year amounted to £354,234 (2022 - £138,920), including rent and room hire costs amounting to £112,230 (2022 - £37,661), depreciation on fixed assets of £97,946 (2022 - £46,195), and donations to other charities of £30,000 (2022 - Nil).
Restricted funds, representing project funds received but not yet expended, increased from £19,924 to £27,429. This includes a deficit in the Care for Ukrainian Refugees Fund of £5,045. The trustees are expecting further income to arrive during the coming financial year that will meet this deficit. Unrestricted funds decreased from £509,639 to £341,404. The trustees consider this position to be adequate and aim to build and retain reserves to cover six months operating costs.
## **Reserves Policy**
The charity currently has no reserves policy.
## **Going Concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concerns basis in preparing the financial statements.
3
**THE CHURCH OF GOD IN UK**
## **TRUSTEES' ANNUAL REPORT**
**For the year ended 31 March 2023**
## **TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the applicable Charities SORP;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the group will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Charity's governing document. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
## **PREPARATION OF THE REPORT**
This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.
## **APPROVAL OF THE REPORT**
This report was approved by the Board of Trustees on…….11-12-2023 ....... and signed on their behalf by:
……………… …………………………………
**Joshua Tsz Lai Choy** Trustee
4
**THE CHURCH OF GOD IN UK**
## **INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES For the year ended 31 March 2023**
I report on the accounts of the charity for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’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 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:
- **(a) 1.** accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
**2.** the accounts do not accord with those records; or
- **2.3** the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Disclosure: Departure from the 2008 Regulations**
Your attention is to drawn to the fact that the Company has prepared the financial statements in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice, published on 16 July 2014 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
………………………………..
## **Charles Ssempijja, FCA**
NfP Accountants Ltd 3rd Floor, 86-90 Paul Street London
EC2A 4NE
11 December 2023 Date: …………………………………….
5
**THE CHURCH OF GOD IN UK**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **(incorporating Income and Expenditure Account & Statement of Total Realised Gains and Losses) For the year ended 31 March 2023**
|**Unrestricted**
**Funds**
**Note**
**2023**
**£**
**INCOME FROM**
Gifts, grants and donations
**124,641**
Gift aid recovered
**17,812**
Rental income
**5,298**
Bank interest
**6,930**
Other income
**150**
**TOTAL INCOME**
**154,831**
**EXPENDITURE ON**
Rent and meeting room hire
**112,230**
Council tax
**13,035**
Water
**7,036**
Insurance
**7,372**
Electricity and gas
**24,073**
Telephone / fax / internet
**5,068**
Repairs & Maintenance
**26,225**
Legal and professional fees
**4,173**
Cleaning
**1,590**
Bank charges
**385**
Depreciation
**97,946**
General expenses
**444**
Small equipment and furniture
**13,549**
Gospel Activities Expenses
**2,396**
Printing, postage & Stationery
**547**
IT Software and Consumables
**486**
Bookkeeping & Accountancy
**1,000**
Travel - National
**5,511**
Donations to other charities
**-**
**TOTAL EXPENDITURE**
**323,066**
**Net income / (expenditure)**
**(168,235)**
**NET MOVEMENT IN FUNDS**
**(168,235)**
**RECONCILIATION OF FUNDS**
TOTAL FUNDS AT 1 APRIL 2022
_509,639_
**TOTAL FUNDS AT 31 MARCH 2023**
**£**
**341,404 **|**Unrestricted**
**Funds**
**Note**
**2023**
**£**
**INCOME FROM**
Gifts, grants and donations
**124,641**
Gift aid recovered
**17,812**
Rental income
**5,298**
Bank interest
**6,930**
Other income
**150**
**TOTAL INCOME**
**154,831**
**EXPENDITURE ON**
Rent and meeting room hire
**112,230**
Council tax
**13,035**
Water
**7,036**
Insurance
**7,372**
Electricity and gas
**24,073**
Telephone / fax / internet
**5,068**
Repairs & Maintenance
**26,225**
Legal and professional fees
**4,173**
Cleaning
**1,590**
Bank charges
**385**
Depreciation
**97,946**
General expenses
**444**
Small equipment and furniture
**13,549**
Gospel Activities Expenses
**2,396**
Printing, postage & Stationery
**547**
IT Software and Consumables
**486**
Bookkeeping & Accountancy
**1,000**
Travel - National
**5,511**
Donations to other charities
**-**
**TOTAL EXPENDITURE**
**323,066**
**Net income / (expenditure)**
**(168,235)**
**NET MOVEMENT IN FUNDS**
**(168,235)**
**RECONCILIATION OF FUNDS**
TOTAL FUNDS AT 1 APRIL 2022
_509,639_
**TOTAL FUNDS AT 31 MARCH 2023**
**£**
**341,404 **|**Restricted**
**Funds**
**2023**
**£**
**38,673**
**-**
**-**
**-**
**-**|**Total**
**Funds**
**2023**
**£**
**163,314**
**17,812**
**5,298**
**6,930**
**150**
**193,504**
**112,230**
**13,035**
**7,036**
**7,372**
**24,073**
**5,068**
**26,225**
**5,152**
**1,590**
**562**
**97,946**
**444**
**13,549**
**2,396**
**559**
**486**
**1,000**
**5,511**
**30,000**|_Unrestricted_
_Funds_
_2022_
_£_
_79,127_
_7,538_
_2,765_
_-_
_433_|_Restricted_
_Funds_
_2022_
_£_
_16,780_
_-_
_-_
_-_
_-_
_16,780_|_Total_
_Funds_
_2022_
_£_
_95,907_
_7,538_
_2,765_
_-_
_433_
_106,643_
_37,661_
_7,386_
_3,216_
_8,430_
_13,566_
_3,026_
_1,473_
_3,685_
_1,749_
_412_
_46,195_
_368_
_7,418_
_1,528_
_361_
_446_
_1,000_
_1,000_
_-_
_138,920_
_(32,277)_
_(32,277)_
_561,840_
_£ 529,563_|
|---|---|---|---|---|---|---|
||**154,831**|**38,673**||_89,863_|||
||
**112,230**
**13,035**
**7,036**
**7,372**
**24,073**
**5,068**
**26,225**
**4,173**
**1,590**
**385**
**97,946**
**444**
**13,549**
**2,396**
**547**
**486**
**1,000**
**5,511**
**-**|
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**979**
**-**
**177**
**-**
**-**
**-**
**-**
**12**
**-**
**-**
**-**
**30,000**||_37,661_
_7,386_
_3,216_
_8,430_
_13,566_
_3,026_
_1,473_
_3,685_
_1,749_
_397_
_46,195_
_368_
_7,418_
_1,528_
_361_
_446_
_1,000_
_1,000_
_-_|_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_15_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_||
||**323,066**|**31,168**|**354,234**|_138,905_|_15_||
||||||||
||**(168,235)**|
**7,505**|**(160,730)**|
_(49,042)_|_16,765_||
|||
||
|||
||**(168,235)**|
**7,505**|**(160,730)**|
_(49,042)_|_16,765_||
||
_509,639_|
_19,924_|
_529,563_|
_558,681_|_3,159_||
||**£**
**341,404 **|**£**
**27,429**|**£**
**368,833 **|_£_
_509,639 _|_£_
_19,924_||
The annexed notes form part of these financial statements
6
## **THE CHURCH OF GOD IN UK**
## **(Company limited by guarantee, number 2350280; Registered charity number 298835)**
## **BALANCE SHEET As at 31 March 2023**
|**FIXED ASSETS**
**Notes**
**2023**
**£**
**£**
Tangible assets
6
**4,194,916**
**CURRENT ASSETS**
Debtors
7
**5,208**
Cash at bank and in hand
**773,677**
**778,885**
**CREDITORS: amounts falling due**
**within one year**
8
**(9,968)**
**NET CURRENT ASSETS**
**768,917**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**4,963,833**
**CREDITORS: amounts falling due**
**after one year**
9
**(4,595,000)**
**NET ASSETS**
**£**
**368,833**
**FUNDS**
Restricted funds
10
Unrestricted funds:
**27,429**
General fund
10
**341,404**
**TOTAL CHARITY FUNDS**
**£**
**368,833**|**FIXED ASSETS**
**Notes**
**2023**
**£**
**£**
Tangible assets
6
**4,194,916**
**CURRENT ASSETS**
Debtors
7
**5,208**
Cash at bank and in hand
**773,677**
**778,885**
**CREDITORS: amounts falling due**
**within one year**
8
**(9,968)**
**NET CURRENT ASSETS**
**768,917**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**4,963,833**
**CREDITORS: amounts falling due**
**after one year**
9
**(4,595,000)**
**NET ASSETS**
**£**
**368,833**
**FUNDS**
Restricted funds
10
Unrestricted funds:
**27,429**
General fund
10
**341,404**
**TOTAL CHARITY FUNDS**
**£**
**368,833**|**FIXED ASSETS**
**Notes**
**2023**
**£**
**£**
Tangible assets
6
**4,194,916**
**CURRENT ASSETS**
Debtors
7
**5,208**
Cash at bank and in hand
**773,677**
**778,885**
**CREDITORS: amounts falling due**
**within one year**
8
**(9,968)**
**NET CURRENT ASSETS**
**768,917**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**4,963,833**
**CREDITORS: amounts falling due**
**after one year**
9
**(4,595,000)**
**NET ASSETS**
**£**
**368,833**
**FUNDS**
Restricted funds
10
Unrestricted funds:
**27,429**
General fund
10
**341,404**
**TOTAL CHARITY FUNDS**
**£**
**368,833**|_2022_
_£_
_£_
_3,629,376_
_15,044_
_1,109,670_
_1,124,714_
_(14,527)_
_1,110,187_|
|---|---|---|---|
|||||
|||**4,963,833**
**(4,595,000)**|_4,739,563_
_(4,210,000)_|
|||**£**
**368,833**|_£_
_529,563_|
|||||
|||**27,429**
**341,404**|_19,924_
_509,639_|
|||**£**
**368,833**|_£_
_529,563_|
For the year ended 31 March 2023 the Company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- **(i)** The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476;
- **(ii)** The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved, and authorised for issue, by the Board of Trustees on …11-12-2023…… and signed on their behalf by:-
Joshua Tsz Lai Choy, Trustee
The annexed notes form part of these financial statements
7
**THE CHURCH OF GOD IN UK**
## **STATEMENT OF CASH FLOWS For the year ended 31 March 2023**
|**£**
**£**
Cash flows from operating activities
Net income / (expenditure) for the year
**(160,730)**
Add back depreciation
**97,946**
**(62,784)**
Net cash provided by / (used in) operating activities
(Increase)/decrease in debtors
**9,836**
Increase/(decrease) in creditors
**(4,559)**
**5,277**
Cash flows from / (used in) investing activities
**(663,486)**
Cash flows from financing activities
Loan advanced from sister Church in Hong Kong
**385,000**
Loan repaid to sister Church in Hong Kong
**-**
Change in cash and cash equivalents in the year
**(335,993)**
Cash and cash equivalents at the beginning of the year
**1,109,670**
Cash and cash equivalents at the year end
**773,677**
**2023**|_2022_|_2022_|
|---|---|---|
||_£_
_(32,277)_
_46,195_
_(15,044)_
_13,807_|_£_
_13,918_
_(1,237)_
_(3,234,346)_
_3,710,000_
_-_|
|||_488,335_
_621,335_|
|||_1,109,670_|
8
**THE CHURCH OF GOD IN UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## _**Basis of preparation of financial statements**_
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, as updated on 2 February 2016 (SORP 2015), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Income and expenditure have been analysed on a 'natural basis, taking advantage of section 4.6 of the SORP.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.
## _**Public benefit entity**_
The charitable company meets the definition of a public benefit entity under FRS 102.
## _**Going concern**_
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Key judgements that the charity has made which have a significant effect on the accounts include estimating income and expenditure for the next 12 months.
## _**Income**_
Income is recognised when the charity has entitlement to the funds: this is when any performance conditions attached to the income have been met, it is probable that the income will be received, and that the amount can be measured reliably.
Income is only deferred when: The donor specifies that the grant or donation must only be used in future accounting periods; or for performance related grants, where these are received in advance of the performances or specific event to which they relate.
## _**Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## _**Fund accounting**_
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
9
**THE CHURCH OF GOD IN UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## _**Expenditure and irrecoverable VAT**_
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is considered all to relate to Charitable activities and includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.
## _**Tangible fixed assets and depreciation**_
Tangible fixed assets (excluding investments) are stated at cost less depreciation. Fixed assets with an expected life of more than one year are included at cost less depreciation at the rates of:
|Properties|-|50 years|
|---|---|---|
|Computers and equipment|-|3 years|
|Furniture and fixtures|-|4 years|
## _**Debtors**_
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## _**Cash at bank and in hand**_
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**Creditors and provisions**_
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
|**2.**|**NET INCOME / (EXPENDITURE)**|**2023**|_2022_|
|---|---|---|---|
|||**£**|_£_|
||Net income / (expenditure) is stated after charging:-|||
||Depreciation|**97,946**|_46,195_|
||Independent Examination|**1,000**|_1,000_|
## **3. STAFF SALARIES AND NUMBERS**
The charity did not have employees or consultants during the year (2022 - the same). General administration and running of the charity was delegated to one of the trustees who does this work on a voluntary basis.
10
**THE CHURCH OF GOD IN UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **4. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no trustees received any remuneration for their service as Trustees, or for any other services provided to the charity (2022 - the same).
During the year, no trustees received reimbursements for out of pocket expenses incurred on the charity's behalf (2022 - the same).
However, in 2022-23, three (2021-22 - four) full time volunteer trustees and their close connections had benefitted from staying in accommodations provided by the Charity, by paying an aggregated concession rent of £60 for the year 2022-23 (2021-22 £39). The rent free benefit enjoyed by the said Volunteer Trustees in the year 2022-23 was £24,740 (2021-22 £26,946).
During 2022-23, the combined free volunteered hours provided by the above Trustees and their close connections that had benefitted the Charity was a total 10,890 (2021-22 - 15,255) hours which is worth £159,543 (2021-22 £215,135).
No other trustees received any benefits in kind 2022-23 (2021-22 - the same).
## **5. OTHER RELATED PARTY TRANSACTIONS**
Other than the trustees and their close connections, there are no other reportable related parties or related party transactions to disclose for 2023 (2022 - none).
## **6. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
|**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2022
At 31 March 2023|**Freehold**
**property**
**£**
**3,748,084**
**619,060**|**Computers**
**and**
**equipment**
**£**
**17,045**
**18,361**|**Furniture**
**and fixtures**
**£**
**28,122**
**26,065**|**Total**
**£**
**3,793,251**
**663,486**|
||**4,367,144**|**35,406**|**54,187**|**4,456,737**|
||**145,539**
**80,424**|**1,955**
**9,518**|**16,381**
**8,004**|**163,875**
**97,946**|
||**225,963**|**11,473**|**24,385**|**261,821**|
||_3,602,545_
_£_|_15,090_
_£ _|_11,741_
_£ _|_3,629,376_
_£_|
||**4,141,181**
**£ **|**23,933**
**£ **|**29,802**
**£ **|**4,194,916**
**£ **|
11
**THE CHURCH OF GOD IN UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **7. DEBTORS**
|**Due within one year**
Prepayments
Rent deposits
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Deferred income
Other creditors and accruals
Deferred income
Balance at 1 April 2022
Amount released to incoming resources
Amount deferred in the year: grant for next financial year received in advance
Balance at 31 March 2023|**2023**
**£**
**5,208**
**-**|_2022_
_£_
_13,981_
_1,063_|
|---|---|---|
||**5,208**
**£ **|_15,044_
_£ _|
||**2023**
**£**
**8,163**
**7**
**1,798**|_2022_
_£_
_13,525_
_2_
_1,000_|
||**9,968**
**£ **|_14,527_
_£ _|
||**2**
**(2)**
**7**|_-_
_-_
_2_|
||**7**
**£ **|_2_
_£ _|
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **9. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR**
|Loan from sister church in Hong Kong (all due after more than 5 years)|**2023**
**£**
**4,595,000**|_2022_
_£_
_4,210,000_|
|---|---|---|
The total long term creditors as at 31st March 2023 was £4,595,000. All loans are interest free for the first four years. Repayments are due on the last day of the fifth year as per date of each loan agreement. Extension of interest free and repayments period for each loan agreement can be negotiated in due course. Any unutilised loan can be used for any unrestricted spending within the scope of the charity objective.
12
**THE CHURCH OF GOD IN UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **10. STATEMENT OF FUNDS**
|**STATEMENT OF FUNDS**||||||
|---|---|---|---|---|---|
|**RESTRICTED FUNDS**
**SUMMARY OF FUNDS**
General Funds
Restricted Funds
Care for Ukrainian Refugees Fund
Light and Love Fund|**Brought**
**Forward**
**£**
**18,014**
**1,910**|**Incoming**
**Resources**
**£**
**14,520**
**24,153**|**Resources**
**Expended **
**£**
**(60)**
**(31,108)**|**Transfers and**
**investment**
**gains/(losses)**
**£**
**-**
**-**|**Carried**
**Forward**
**£**
**32,474**
**(5,045)**|
||**19,924**
**£ **|**38,673**
**£ **|**(31,168)**
**£**|**Nil**
**£**|**27,429**
**£ **|
||**509,639**
**19,924**|**154,831**
**38,673**|**(323,066)**
**(31,168)**|**-**
**-**|**341,404**
**27,429**|
||**529,563**
**£ **|**193,504**
**£ **|**(354,234)**
**£**|**Nil**
**£**|**368,833**
**£ **|
The Light and love funds represent donations received for Light and Love Home Worldwide Charity Services. The fund balance of £32,474 at the year end was represented by cash in a separate bank account for holding the restricted funds. No funds were transferred to Light and Love Home Worldwide in the year (2022 - Nil).
The Care for Ukrainian Refugees Fund represents donations received, restricted to and for benefits of the Ukraine refugees. The fund is used to pay for accomodation, food and necessities for the Ukraine refugees. During the year, £31,108 was spent, including a £30,000 donation for volunteers in Ukraine, in reimbursement for expenses incurred locally. At the year end, the fund was in deficit of £5,045. The trustees are expecting further donations into this fund during the coming financial year to meet this deficit.
The net book value of fixed assets at the end of the year was £4,194,916, including land and buildings with a net book value of £4,141,181. The properties were funded by interest free long term loans from a sister church in Hong Kong. Because of this, the trustees considered that having a designated fund to the value of the fixed assets would not present a fair view of the accounts. Therefore during 2021, the fixed assets fund was removed and merged with the general fund.
13
**THE CHURCH OF GOD IN UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
|_STATEMENT OF FUNDS - 2022_
_Brought_
_Forward_
_£_
_DESIGNATED FUNDS_
_Fixed Assets Fund_
_441,225_
_441,225_
_£_
_RESTRICTED FUNDS_
_3,159_
_-_
_3,159_
_£ _
_SUMMARY OF FUNDS_
_Designated Funds_
_441,225_
_General Funds_
_117,456_
_558,681_
_Restricted Funds_
_3,159_
_561,840_
_£ _
**11. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Tangible fixed assets
Net current assets
Creditors due in more than one year
_2022_
_Tangible fixed assets_
_Net current assets_
_Creditors due in more than one year_
_Light and Love Fund_
_Care for Ukrainian Refugees Fund_|_Brought_
_Forward_
_£_
_441,225_|_Incoming_
_Resources_
_£_
_-_|_Resources_
_Expended_
_£_
_-_|_Transfers and_
_investment_
_gains/(losses)_
_£_
_(441,225)_|_Carried_
_Forward_
_£_
_-_|
|---|---|---|---|---|---|
||_441,225_
_£_|_Nil_
_£_|_Nil_
_£_|_(441,225)_
_£_|_Nil_
_£_|
||_3,159_
_-_|_14,870_
_1,910_|_(15)_
_-_|_-_
_-_|_18,014_
_1,910_|
||_3,159_
_£ _|_16,780_
_£ _|_(15)_
_£_|_Nil_
_£_|_19,924_
_£ _|
||_441,225_
_117,456_|_-_
_89,863_|_-_
_(138,905)_|_(441,225)_
_441,225_|_-_
_509,639_|
||_558,681_
_3,159_|_89,863_
_16,780_|_(138,905)_
_(15)_|_-_
_-_|_509,639_
_19,924_|
||_561,840_
_£ _|_106,643_
_£ _|_(138,920)_
_£_|_Nil_
_£_|_529,563_
_£ _|
|||||**Restricted**
**Funds**
**£**
**-**
**27,429**
**-**|**Total**
**Funds**
**£**
**4,194,916**
**768,917**
**(4,595,000)**|
|||**Designated**
**Funds**
**£**
**-**
**-**
**-**|**General**
**Funds**
**£**
**4,194,916**
**741,488**
**(4,595,000)**|||
|||**Nil**
**£**|**341,404**
**£ **|**27,429**
**£ **|**368,833**
**£ **|
|||||_Restricted_
_Funds_
_£_
_-_
_19,924_
_-_|_Total_
_Funds_
_£_
_3,629,376_
_1,110,187_
_(4,210,000)_|
|||_Designated_
_Funds_
_£_
_-_
_-_
_-_|_General_
_Funds_
_£_
_3,629,376_
_1,090,263_
_(4,210,000)_|||
|||_Nil_
_£_|_509,639_
_£ _|_19,924_
_£ _|_529,563_
_£ _|
14
**THE CHURCH OF GOD IN UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **12. OTHER INFORMATION**
The Church of God in UK is a charitable company limited by guarantee and without share capital, registered in England with registration number 2350280. Its registered office address is 18 Croydon Road, Beddington, Croydon, CR0 4PA. The accounts are presented in GBP rounded to £1.
15