Company No: 02287510 Charity No: 800142 HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED (Private Company Limited By Guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED CONTENTS Pa Trustees and Other Company Informati(In Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-15 HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED Page 1 TRUSTEES AND OTHER COMPANY INFORMATION Directorn: LCAU R S M Cheung C S Chou (Secretary) J Farrell (Chair) DDYLam HPai L W So ffreasurer) Ymwong YMYU Trustees and Management Committoo: LCAU R S M Cheung C S Chou (Secretary) BLee J Farrell (Chai DDYLam HPai L W So (TreaSU￿r) Ymwong YMYU Company Secretary: Cschou Company Number: 02287510 (England & Wal8s> Charity Number: 800142 Registered Office.. 12-14 Englefield Road Hackney London N1 4LS Accountants: Jacquards Chartered Ac￿)Untants 2 Burton House Repton Place Aiite Lion Road Amersham Buckinghamshire HP7 9LP HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED Page 2 REPORT OF THE TRUSTEES Thè Dire￿or$ and Management Committee, who are also the trustees of the Charity, present their annual report and financial statements for the year ended 31st March 2024. The Management Commrttee have adopted the provisions of the Ststement of RecommerKI Practice {SORP) "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordaft￿ wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeGtive 1 January 2019). Gov8ming Document Hackney Chinese Communty Services Associatv)n Limited is a company limited by guarantee govemed by its memorandum and articles of associalion (as amended from time to time). It is a registered charity with the Charity Commission. There are two main types of membership: Individual membership which is divided into three categories. Anyone fiving in the area of benefil and over the age of 18 can become a full member, anyone INing in the area and under the age of 18 can become a junior member, and well-wishers anywhe￿ can become assocbate members. Family membership which includes members and their spouse and issues under the age of 18. In the event of the Charty wiNJing up each member agrees to contnbute £1 towards the assets of the Charity. Constructlon and Appolntment of the Management C¢xnmltteerrrustees The Management Commtttee shall consist of not fewer than 3 members nor mor8 than 11 members, elected by the m8mb8rs at an AGM. All members of the Charity ￿ entitled to nominate trust&s prior to the AGM. Nominations must be made in writing and submrtted within a set time before the AGM. No member of th8 Management Committee shall be an employee of the organisation or have any form Df salary and reward from hislher post or have an immediate family relationship to an employee of th8 or9anisalion. All members of the Managerrent Commtttee shall retire from office together at the end of the next annual general meeting after the date on whrh they came into office but they may be re-elected or re- appointed. Trustees Indudlon and Training All new trustees are proifjded with induction materials on their legal obligations urKler charity and company laws, the contents of the memorandum and articles of association, the policy handbooks. the decision-making processes and day to day workings of the Charity. All new trustees attend an induction session where they meet key employees and other trustees. Trustees are encouraged to attend appropriate extemal training events wher8 these will facilitate their role. Objects of the Charlty and Organisation of Work The Charity's objects and its principal adivty are the provision. Promotion and improvement of educational, social and health seNices to the local communty of H*ney. London and surrounding areas and primarily the Chinese and Vietnamese communty living in the area. The Charity is organised so that the Management Commiitee meet regulady to manage rts affairs. The M8nagement Committee appoints a centre managerwho manages the day-to-day administration ofthe Charity and organises fundraising initiatives. The remaining staff are utilised in the provision of charitable activicies and the Management Committee is grat8ful for the support of volunteers in this endeavour. HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED Page 3 REPORT OF THE TRUSTEES Financial Review The slatement of financial activits'es shows the net deficit for th8 year of £117,311 (2023: sU￿lUS £41,970) and our reserves stand at £178,543 (2023: £295,854) in aggregate. Of these reseprfes, there are designated funds of £160,624 {2023.' £279,497). Achievements and Perfonnance We continue to provide a range of services across all ages for the Chinesenfietnamese comrnunty, currently these include: Advisory, Elderly Luncheon Club, Mental Health Advocacy, ImmigratDn Advi￿, Hong Kong BN(01 integration Servi￿ and Singing and Dancing. We are in the transrtion from a community centra for Chinese and Vietnamese communty to become a communty centre for Easl & South East Asians (ESEA). W8 received support from London Borough of Hackney and the Greater London Council jointly investing £2.2m to ￿furbISh the Old Bath Hcuse to establish the first ESEA communty centre in London. The Charity is very proud to Celebrate the various tradrtional ESEA cultural events throughout the year with its members as well as joining in the local festivals. The Chaiity has a strorKJ reputation as a pla￿ prowding a range of quality selvices for the Chinese and Vietnamasa communty in Hackney. and strives to maintain and develop the range of services that it CAn provide. We aim to carry on the excellerrt work of the Charity by attaining funding or grants to further help the Chinesemietnamese communty in Hackney, and to grve the Chinese and Vietnamese communty in Hackney a voice or platfomi so that their needs can be heard. while expanding the scope of our services to the wider ESEA community. Director5 The directors who held during the perK)d 1st April 2023 to the date of this report are as follows.. A Jarosy L Poon Y C Chong M Tran BLee YWYU Cschou DDYLam Cmui J Farrell J Farrell Z Lieu Y Suen HPai L Wso LCAU Ymwong R S M Cheung - retired 27th October 2023 - retired on 17th July 2024 retired on 17th July 2024 - retired as Director and Secretary on 17th July 2024 - appointed as Director and Secretsry on 17th July 2024 appointed on 17th July 2024 retired on 17th July 2024 Chair - appointed Secretary on 4th April 2023. retired as Secrtary on 171h July 2024 retired on 17th July 2024 - retired on 13th April 2024 - appointed 17th Juty 2024 - appointed 17th JU￿ 2024 - appointed 171h July 2024 - appointed 17th JU￿ 2024 appointed 17th July 2024 None of the directors had a b￿eficIal interest in the Charity. Dlrectors and Management Commfttee Responslbllttles The Directors are responsible for preparing financial stateffEnts in accordance with applicable laws and regulations. HACKMEY CHINESE COMMUNiff SERVICES ASSOCIATION UAirrED REPORT QF THETRUSTEE8 Page 4 The DkOc￿r$ and Man8gement Commfitee are req￿r8d by wnpany law to wepare fironclal statemenls for eachllnandal year which glve a Inig and f￿r ¥lew ofth¢ slale of 8ffair3 of the Charty and ot Its results for that pertod. lft th08e fin￿￿#1 statemert8. Ihe Oiecth and Mawm•rt Committoo are requlr8d to.. Ided sullable ac(witkng polldpa and th•n ?pply them ￿nsIstantlY. makejudgements and esllmates that 8re reasonable and prudent: •talt tr￿1 Ihe finarthl slatemerrts CoM￿Y ¥￿1￿ apOc8ble finamal repoiting siandard5; financial Jlatements on Ihe golw conwn baals unl￿3 rt is to presume that the company will con11n￿ In businèsg. The Olreaors and Mansgement C*xnmltteA we regpfy7*b￿ for keeplng proper accourthg recorth whkh di8doBe wllh reasMable accuracy at any tkne the fi￿ncI£l posilim of tr* Charty ar￿ enable them to ensure thai the financial stsbments cofflpty with the CompanlesA£l 20C6. They are also resp￿sIble forsafeguarding ihe 8ssets ol the Chartty and hence for taking reasonable steps for (he wevenJM and detecti￿ of fraud arod rknr trreguloril*s. Thls report has been prepaf&l In xuYd8rrn wllh the Recommended Practice. Accounling and RoFrf)rting by charities (effe¢tive 1 J8rrtwI 2019) and in accordance with ihe special prowslons of Part 15 of Cwanies Ad 20C6 idating to small compani￿. J Farren Dale: HACKNEY CHINESE COMMUNITY SERVICES ASSOCIAnoN LIMITED Page 5 INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES OF HACKNEYCHINESE COMMUNITY SERVICES ASSOCIATION LIMITED I report to the trustees on my examination of the acc(￿nts of Hackney Chinese Community Services Association Limited (the Charity) for th8 year ended 31 March 2024. Responslbllltles and basis of report The company's Directors and Management Committee (who are also trustees for the charitsble activtiies of the Charity) ar8 responsible for the preparation of the accounts in awordance with the requirements of the Charities Acl 2011 (the Act). The Charity's trustees consider that an audit is not required for this year (under section 144(2) of the Act)) and that an independent examination is required. I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act, and in carrying out my 8xamination I have followed the procedures18id down in the General Directions gNen by the Chartty Commission (under section 145(5)(b} of the Aci. Independent Examlnerfs Report The Charty's gross income 8xc8eded £250,000 and l am qualified to undertake the examination by being a qualified member of the Instiiute of Chartered ￿Countants in England and Wales. 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 ￿lIeVe that in any material respect: accounting records were not kepl in respect of the Charity as required by section 130 of the Act. or 2. the accounts do not accord wilh those records: or 3. the accounts do not comply with the applicable requirements con￿MIng 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 tru8 and fair view which is not a matter considered as part of an independent examination. I have no COn￿rnS and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. JPAh Jayesh Patel Jacquards 2 Burton House Repton Place White Lion Road Amersham BuckinghamshI￿ HP7 9LP 30 Janua.ry. 2025 Date: HACKNEY CHINESE COMMUNTtY SERVICES ASSOCIATION LINMTED Page 6 STATEMENT OF FI￿NCL4L ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 SUMMARY INCOME ANO EXPENDfiuRE AccouKr Restricted Ful￿$ Designated Funds General Funds Total 2024 Total 2023 INCOMING RESOURCES Grants receivable Voluntary incom& Fundrai¥ing & other income InVestr￿nt income 378.832 378,832 46,110 75,529 179,415 23,010 96,652 46.110 60.643 14.886 TOTAL INCOMING RESOURCES 378,832 14,886 106,753 500,471 299,077 RESOURCES EXPENDED Govèmants oxpènditure Direct tharrtable expenditure Fundraising and events costs Designatéd fijnd expendriurg Transfer of funds 133,620 133,620 268,258 21.723 194,181 99,667 154.375 3,065 268.258 1,262 194.181 20.461 TOTAL RESOURCES EXPENDED 268.258 195,443 154,081 617.782 257.107 NET INCOMEIIEXPENDITURE) FOR YEAR 110.574 (180.557) 147,328) {117.3111 41,970 STATEMENT OF OTHER RECOGNISED GAINS AND LOSSES Restncted Designated Funds General Funds Totsl 2024 Total 2023 Net movement in fiJnds for the year 110.574 {180,557} 147,328) (117,3111 41,970 Movements in Capital Reserve 14 (118,224) 61.684 56.540 Funds brought forward 16,259 279,497 98 295,854 253.884 Funds carried forward 8.609 160.624 9,310 178,543 295,854 The notes on pages 8 to 15 fomi part of these a¢¢ounts. f4 •17 17S4JI 171.5 •31 l•) HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED Page 8 NOTES TO THE ACCOUNTS FOR THE IEAR ENDED 31ST MARCH 2024 ACCOUNTING POUCIES Basis ofAccounlt financial stalernents of the tharty. ¥thith is a public benefit entsty urKler FRS 1￿2. have been prepared in accordance with tr8 Statement of Rec4)mmend Practice ISORPI "Accounting and Reporting by Charrties" applirable to charittes preparing their aLroullts in a¢cordance wtth the Financial Réporbng Standard applicab￿ in tha UK and Republic of Irèland IFRS 1021 leffecttve 1 January 2019). Financial Reportin9 Standard 102 The Financ4al Reporbng Standard applicable in the UK and Republic of Ireland, and the Charitses Act 2011. The financtal ststements have I￿en prepared under the histori¢al co$t¢onvention. Cash Flow Statomant The accounts do r￿t indudg a cash flow statement berause the Charity. as a small reporling entity. has taken advantage ofthe ex&nption from the requrwnent to prepare such a statement under Finanual Rewting Standard 1. Tangiblo FIX￿ As$ots Tangible T￿ed assets are ststed al cost kss depreciation. Depre¢tab'on is prO￿ded at rates cakulaled to write off the cost less estimated residual value of each asset over its expetsd usefvl Ilfe. as follows: Plan( r￿tureS and equipment 25% straght lkne basis Flxed Asset Investments Fwl 3ss81 inv8s1mènts aré statsd at cosl18ss provision for diminution. Fund Accountlng Unrestricted fuThJs are available for use at the discretion of th8 truste8s in the furtheran￿ of the general objectives of the Chatity. Deslgnated furKls are unrestrKXed funds eamiaFked ty the IAanagement C(xnmittee for partiujlar purposes. Restricted funds are subject to restricborts on their expenditure Inposed by the donor or through1ho temis of an agreement Incomlng Resources Voluntary income and donations are accounied for on a r￿￿t basis. The ino)me from fundraising ventures and events is shown gross, with the assocFated costs included in fvndraL4ing ￿Sts. No pemanent er￿0Wments have been receNed in the period. but these are dealt with through the statement of financial activities when recew&J. Grants receNat48 are Incl￿ in the statemnt offinancial athIl￿S in the period in which they a recewed. whe￿ grants are provided for a specific purpose and the relat&J eypenditure has not been incurr￿j es at the balan￿ sheel date. the granl is deferred and Shown under creditors. HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION UMITED Page 9 NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Resources Expended Expenditure is recognised on an ￿$h basis. Charitable eypendilure txmprises those costs incurred by the Charity in the delrvery of its actrlitses. It indudes both ￿$ts that be allocaled directly to such athities and those costs of an Indire￿ nalU￿ necessary to support them. All costs are allocated be￿een the expenditure categories on a basis designed lo ￿fiect the use of the resource. 2024 2023 GRANTS RECEIVABLE London Borough of Hackney Advice Se￿1￿$ Project LBH PHCC Netr￿rk Grant LBH Culiure Grant2024 E￿erfY Lunch aubs 26,000 1.470 4.450 38.834 26.014 35,080 London Borough of Hackney l Mind LBH Mind Mental Health 39.921 31,677 Department for Levelling Up. Housing & C¢xnmunities HK BNIOI Regional VCSE Grant Scheme Yr 3 HK BNIOI Region81 VCSE Grantyear 2 PA On Yoursitle 40,000 28,418 13,735 9.805 Ground Work GW Women 19.205 GLA_Ground Wofk_Mi8rant Advice and ￿pport Fund GLA GW MKJrantAdvice and Suptth Fund 127.053 Propol Fund Propel Fund 37.125 London Borough of Hackney- Grthtsr London Authorfty Loc81 Hong Kong Welwrt￿ Foundats"on GLA LBH Yr2 HKer WelL¥)me Fund 29,900 34.969 Thrive London Menlal He3tth- Right to Thrfve 7,OLK) Hatkney CVS Secondrnent 7,591 378.832 179,415 HACKNEY CHINESE COMMUNITY SERVICES ASS￿lATION UMITED Page 10 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST PAARCH 2024 2024 2023 VOLUNTARY INCOME Donations and 9ifts 46.110 23,010 FUNDRAISING & OTHER INCOME 2023 Unrestricted Gen Unrestrithd natèd General Dèsi Des Membership subscriptions HCCSA Projeds CFundrdiwng} Selfgeneraled income 3.020 29.310 28.313 3,400 14.886 21.142 72,110 14.886 60.643 21.142 75.510 INVESTMENT INCOME Inte￿$t re￿IVed on bank aecount GOVERNANCE EXPENDITURE staff costs Rent. utilities and services Prints"ng, postage and stslTonery Property refurbishment and repairs Accountsnts. fees Travelling and volunteer expenses Profe￿I0nal fees Depreciationlcapitsl expendrtu Impalm￿nt of fixed asset investrnent Othèr Cross charges to diréct charitable expendilure 78.056 23.384 292 3.025 1.500 7,355 11,218 878 46.821 21.054 509 2.579 1.200 6,e30 11.580 98 7.912 9.196 133.620 99,667 HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATION LIMITED Page11 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 2024 DIRECT CHARITABLE EXPENDrruRE Staff costs Other apporboned dtrect se￿ICeS 104.190 164.068 97,993 56,382 268.258 154,375 FUNDRAISING AND PIENTS Expenditure covered by income 20.461 3,065 SURPLUSI(DEFICITI FOR THE YEAR The surplusl(deficitl of incomè avér èxp8ndiluré is statod aftèr Chargu￿.. Depreciation of tangible fixed assets 878 98 CKNEY CHINESE COMMUNifY SEWIICES ￿soCIATION LIMITED Page 12 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 10. FIXED ￿$SETs Computer Fumiiure & To As at 1 sl Aprl 2023 Additions Ellminated 735 3.540 735 3,540 As at 31st March 2024 4,275 4.275 Depreclatlon As at 1 $tApril 2023 Charge for the year Eliminated 286 878 286 878 As al 31 st March 2024 1,164 1,164 Net Book Value A5 al 31st March 2024 3,111 3,111 As at 31st March 2023 449 449 11. FIXED ASSET INVESTMENTS Listed en Other non4Lsted Investments Total Cost at 1st April 2023 Impaimients As at 31st March 2024 ProvFsion for Diminuti¢)n As al 1 st April 2023 & 315t March 2024 Net Book Value at 31st Marth 2024 As at 31st March 2023 other noTrlisted fixed asset investments comprise of investrnent ￿ land and is 5tsted at nominal value. By Management Committee resolution on 27th May 2020, ilwas agreed to recognise an irnpalffl￿￿I an to write off investrnenl of green beH lands n Kent rBlab"ng to Yee Hong Eldedy Foundation Project. HACKNEY CHINESE COMMUNITY SERVICES ASSOCIATICAY LIMITED Page 13 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST KWRCH 2024 2024 12. DEBTORS Grants and furxling recetvabfe Other debtor5 8.424 15.578 29.760 3.676 24.002 33,436 13. CREDITORS - An￿￿nts faJliryJ due wtthin one year Sundry creditors and accruals GLA CfvTrJ Ldn Com Kithen OBCH GGF Defe￿ed income 25,895 84,002 89,360 16.678 9,536 199.2S7 26.214 14. RESTRICTED AND DESIGNATED FUNDS Rèstrictod Funds: Balance as at 1st N)ri12023 Surplus for the year Transfer {loyfrom reserves 16.259 110,574 (118,224) 38,597 16,259 138,597) Balance as at 31st March 2024 8,609 16,259 Designated Funts: Balance as at 1st Apnl 2023 Surplus for the year Transfer (to)ffrom reserves 279,497 {180,557) 61.684 211,732 6,497 61,268 Balance as at 31st March 2024 160,624 279,497 HACKNEY CHINESE COMMUNif( SERVICES ASSOCIATION LIMITED Page 14 NOTES TO THE ACCOUNTS FOR THE YEPR ENDED 31STWICH 2024 RESTRICTED AND DESIGNATED FUNDS- contlnu8d 2024 Designated ReseNes comprise the following: Crisis Re5erve5- Transferred from General FurKI Reserve for HCCU continuation for 6 morths laA)roL 50% of Governance Expenditure) Bdance as at 1st Aprd 2023 Transfer {to)Ifrom reserves 53,000 14.CKIO 38,000 15,000 Balance as at 31st March 2024 67.000 53,000 Reserve for HCCSA'S obllgatk)ns and insdvencycosts Balance as al 1stApril 2023 Transfer lt0ytr￿n resenrts 40,000 40,000 40,000 Balance as at 31st March 2024 80,000 40.000 2) Reserve for OBCH Community thchen BalancAe as a11st April 20Y3 Trnnsfer {toyfvom reseNes 90.000 {9).0￿> 70.000 20.000 Balance as at 31st March 2024 90.000 3) Reserve for OBCH Extra Furniture. Fixture and Equlprne Balance a5 at 1st Pgri12023 Transfer It0￿rOM reserves 90,000 (9),0￿> 60,000 30.000 Balance as at 31st March 2024 90.000 4) Balance as at 1st April 2023 sU￿[us for the year T￿nSfer (toyfrom re¥erve$ 6,497 1180,557) 187.684 3,732 6.497 {3.732) Balance as at 31st March 2024 13,624 6.497 HACKNEY CHINESE COMMUNITY SERVICES fvSSOCIATION LlhllTED Pagè15 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 2024 15. OPERATING LEASE COMMITIIIENTS The followwN operatirMJ kase payrnwts a￿ ¢ommitted lo be paKI uryjer non