Company Reglslratlon Number 02422385 (England and Wales) Charlty Reglstrntlon Number 802411 PO SHIN TAO TEH ASSOCIATION LIMITED (A Company Llmited by Guarantee) TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 ENV45550453-1422-BcCD575-DEFD 051(12025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED COMPANY INFORMATION Truste88 DrNHo Mrs T M Cheng Miss T W Lee Chairman Treasurer Secretary Mrs K H Chow Company numb•r 02422385 Regl8tered offlce 10 Havelock Rise Luton Bedfordshire LU2 7PS Accountants Webb Accounlancy Services knmited 19 Diamond Court Opal Drive Fox Milne Milton Keynes MK15 ODU Buslness address 10 Havelock Rise Lulon Bedfordshire LU2 7PS pl Ki ENV45550453-1422-BCcD575-DEFD 0510612025 14..02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED CONTENTS Page Trustees and directors. report Independent 8xaminerfs report Stalement of financi activities Balance sheet Noles lo the financial statemenls 6- 11 ENV455 0510612025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED TRUSTEES AND DIRECTORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Th8 trustees and directors presenl Iheir annual report and accounts of the charity lor the year ended 30 September 2024. Obleetlves and Actlvltles of the Charlty The charity is governed by its Memorandum and Articles of Association. The powers of th8 Charity in Ihe Articles are staled as being anything which is calculated lo further its Object(sl or is condLJcive or incidental lo doing so. In particular, the charity has power: 11) To advance spiritual, mental and moral improvemenl by promoting the teachings of Tao. Confucius and Buddha 121 To give support arKI aid lo Ihose who need help. Each year our trustees review our objectives and activities to ensure they conlinue to reflect our aims and comply with the Charity Commissions guidance on public benefil arKI lo cary oul our activities without damaging Ihe local economy or community. The ch8rity's main activities in relation to the objectives are to hold wular s8PrfiC8s and meetings at th8 charity's premises. The aim is to encourage participants lo comprehend the wisdom of Taoism, Confucianism and Buddhism. The charity collects donations and provides support and donations for the relief of rA)verty lo the local community, national and international organisalions. How our Acllvllle8 Dellver Publlc Boneflt We have a wide range ol participants from diverse backgrounds that are involved in attending regular services and m88tings wilhin which the wisdom and teachings ol Taoism, Confucius and Buddha are studied. The charity believes that promoting Ihe divine studies is the best long-temi method lor uplifting spirit and improving mentality and morality and Ihus relieving poverty. The charity conc8ntrales its work on its local offices whereby our volunteers provide support and advice to the locals and assist them to become sell-sufficient. We carry oul our work by ourselves and ulilis8 local knowledge and resources lo promote our work where possible. Achlev•ments and Pertormanee From the oulsel, we have b8en running regular activities lo fulfil our charitable objects year by year. Our charilable activilies locus on the divin8 teachings, namely, embracirKJ the five bonds of piety and ancient wisdom. In essence, the teachings have been calered lo our members lo realise their own purposes in life, lo strengthen their inner core and to build up their confidence and determination. In addition lo Ihe teachings, we have been promoting healthy living by recommending lifestyle adjustments and giving out dielary advices. All of our activities have been carried out within our premises. With the adv8nl of digital technology we have been receiving inputs from overseas by means of video conferencing. Not only did Ihe overseas participalion help us lo widen our perspective in divine philosophy but also encourage us to work towards our goals with passion and enthusiasm, Apparently, our members hav8 improved upon self-sufficient, conlenlment, confidence, encouragement and determination. Not only are they able to molivale Ihemselves but also capable to support the others who need help. During these difficult financial times, the charity has been receiving donations and necessities from our generous members and volunteers. The outstanding achievements throughout the year must be accredited lo them for the gracious contributions and enlhusiastic involvements. The trustees are therefore very grateful to them for their sincere performance. The Charity will continue to work t¢)wards the objects that have been set out in the company's Memorandum and Articles of Associalion, and always reserve funds for those who need help. ENV4555 0510612025 14.'02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED TRUSTEES AND DIRECTORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Flnanclal Revlew Financial support continues lo be received from donalions. The Trustees are satisfied that the charity's costs have been r8v1evd and revised where required and ar8 well controlled and that all costs are for the furtherance of the charity's objectives. The charity's income from all sources amounted to £70,533 (2023 £80,683). The Truslees would like to take this opportunity io Ihank all funders and SUPFrf)rters for their hard work and generosity. Total expenditure amounted to £40,82812023 £46,169). The surplus for the year amounted to £29,705 (2023 £34,514). This has increased the nel funds available lo £721,47312023 £691 .7681. The Trustees have reviewed the reserves and propose to maintain unrestricted reserves at a18V81 equal to at least tbvelve months running costs. The nsks lo which the charity is exposed, in the main to financial issues, are discussed and addressed al meelings ol the Trustees and committee. Structur• Gov•fnan¢• and Managom•nl The charity is a charitable company limited by guarantee. incorporaled on 13 September 1989. The charity's founding documents take the form of Memorandum and Artides of Association, by which it is govarned. The Directors of the company are also Trustees for the F)urposes of charity law and under Ihe company's Articles are known as members of the Management Committee. The Management Committee meels on a regular basis. The Trustees are inviled lo b8 appointed by the currenl board of Trustees and as such can be dismissed as a Trustee, or asked lo resign Iheir position. However. this decision can only be made with the full consent ol Ihe Truslees as a whole. DlrKtors and Trust008 Respon8lbllllle8 The Directors, who are referred to as Trustees, are responsible for preparing financial statements In accordanc8 wlth applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial slalemenls in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounling Standards and applicable lawl. The financial statements are required by law to give a true and fair view ol the stale ol affairs ol the company and of the prolit and loss ol Ihe company for Ihat period. In preparing those financial statemenls. the Trustees are required lo: select suitable accountlng policies and then apply them consistenlly; make judgmenls and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the company will conlinue in business. The Trustees are responsib18 for keeping proper accounting records Ihal disclose with reasonable accuracy al any time the financial position ol the company and to enable them lo ensure thal the financial statemenls comply with the Companies Act 2006 and with the FRS102 Slalemenl of Recommended Praclice. They are also responsibl8 lor safeguarding the assels ol the company and hence for taking reasonable steps for the prevention and detection ot fraud and other irregularities. On behall of the board n IfB DrNHo Dlrector Date: 05/0612025 ENV455 051W2025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PO SHIN TAO TEH ASSOCIATION LIMITED I report on the accounts of the company for the year ended 30 September 2024. which are set out on pages 4 to 10. Respectlve Responslbilltles of Truslees and Examlner The Trustees (who are also the Direclors of the company for the purposes of company lawl are resFK)nsible for the preparation of Ihe accounts. The charity's trustees consider that an audil is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needecl. having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, il is my responsibility to: examine the accounts under section 145 of the Charities A¢1; lo follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5){bl of the Charities Act., and to slate whether particular matters have come to my attention. Basls of Independent Examlner's Report My examination was carried out in accordance wilh Ihe general Directions gNen by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented wtth Ihose records. It also includes consideration of any unusual ilems or disclosures in the accounls, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do noi provide all the evidence that would be required in an audil and consequently no opinion is given as lo whether the accounts present a 'true and fair vi8w' and the report is limited to those matters set out in the statement below. Independent Examlner's Stalement In connection with my examination, no matter has come to my allention to indicate Ihal: accounting records have not been kept in accordance with section 386 of the Compani&s Acl 2006., Ihe accounts do not accord with such records" where accounts are prepared on an accruals basis, whether Ihey fail to comply wilh relevant accounting requirements under section 396 of the Companies Acl 2006, or are nol consislent with the Charities SORP (FRS102} any matter which I believe should be drawn to the attention of the reader to gain a proper understanding of the accounts. Webb Accountancy Se s Llmlled Chartered Accountants 19 Diamond Court Opal Drive Fox Milne Milton Keynes MK15 ODU ENV455 0510612025 14..02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unreslrlcted Reslrlcled Total funds funds 2024 Income lunds 2024 2024 Prlor year funds 2023 Noto8 Income Income and endowments from: Donations, inveslment income Total Incom• 70.533 70,533 80,683 Expendltur• Expenditure on charitable activiti8S Fundraising costs Govemance and support costs 40.215 40,215 45,566 613 613 603 Total Expondlturo 40.828 40,828 46,169 Net Incomè l (Exp•ndllure) before tsx 29,705 29,705 34.514 Tax payable N•t Income l {Expendltur•) 29,705 29.705 34,514 Transfer betsveen funds N•t mov•m8nl In fundg 29,705 29,705 34,514 R•conclllallon of funds Total funds brought forward 721,473 721,473 657,254 Total lund8 carrl•d forward 691.768 691,768 691,768 ENV455 0510612025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED BALANCE SHEET AS A T 30 SEPTEMBER 2024 Unrestrlcted Reslrlcted Total funds funds 2024 Income funds 2024 2024 Prlor year funds 2023 Notes Flxed assets Tangible assets 428,778 428,778 429,688 Currant assets Debtors Cash at bank and in hand 5.660 5,660 408,233 5,291 379.205 Totsl current a39ets 413,893 413,893 384,496 Credltors: amounts lalllng due wllhln one year (6981 (6981 (1,916) Nel current as13 l (Ilabllltles) 413,195 413.195 382,580 Credltors: amounts falllng due after more than one vear Provl8lon8 lor Ilabllltles 10 (120,500) {120,500) 1120,5001 Tolal assets less current Ilabllltl•s 721,473 721,473 691,768 Funds of the Charlty Restricted funds Unrestrict8d funds 721,473 721,473 691,768 Total funds 721473 721,473 691 768 For the financial year ended 30 September 2024 Ihe company was enli118d lo exemption Irom audit under section 477 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Acl with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial slalements for Ihe year in queslion in accordance with section 476. These financial slatements have been prepared in accordance with the provisions applicable lo companies subject lo Ihe small companies, regime and in accordance wilh FRS102 SORP. The financial statements were approved by the trustees and authorised for issue on ils behalf by: 0510612025 and are signed on ukn IfD DrNHo Truslee l Dlreclor Company Reglstrallon No. 02422385 ENV4555 0510612025 14..02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL sTATEMErs FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcles Company Informatlon Po Shin Tao Teh Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Havelock Rise, Luton. Bedfordshire. LU2 7PS. The charity constitutes a public benefit entity as defined by FRS102. 1.1 Basls ol accountlng These financial statements have been prepared in accordance with the Slalement of Recommended Practice: Accounling and Raporting by Charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (SORP FRS 1021 issued on 16 July 2014, with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with the requirements of the Companies Act 2006 and Ihe Charities Act 2011. The financial statements are prepared in sterling. which is the funclional currency of the company. Monetary amounts in these financi slalements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified lo include the revaluation of freehold properties and to include investment properties and certain financial instrumenls at fair value. The principal accounting poliaes adopted are sel oul below. 1.2 Golng concern At the lime of approving the financial slatemenls. the directors have a reasonable expeciation Ihat the company has adequale resources to continue in operational existence lor the loreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Turnover All incoming resources are included in the Stalemenl of Financial Activities (SOFA) when: the charity becomes entitled to the income" the monetary value can be measured with sufficienl reliability. and it is more likely than nol Ihat the trustees will receive the resources. Grants and donalions are only included in the SOFA when the general income recognition crileria are mat. Legacies and other forms of voluntary income are only included in the SOFA when receipt is probably. Ihat is. when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are eilher within the control of the charity or have been met. Contraclual income and perlormance related grants are only included in the SOFA once the charity has provided Ihe related services or mel the perlormance relaled conditions. The value of any voluntsry help received is not included in the acwunts but is described in the trustees, annual rer)ort. Gift Aid receivable is induded in income when Ihere is a valid declaration from the donor. Any Gift Aid amounl recovered on a donation is considered to be part of that gift and is treated as an addition to the sam8 fund as the Initi donation unless the donor or the terms of Ihe appeal have specified otherwise. 1.4 Expendlture Liabilities are recognised where il is more likely than not that there is a legal or constnjctive obligation committing the charty io pay oul sOUrceS and the amount of the obligation can be measured with reasonable certainty. All revenue expenditure is dealt wth through the SOFA on an accruals basis and is alltxat8d to their appropriate functional headings. ENV455 0510612025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 1.5 Governance and support costs Support costs have been allocated between governance costs and other supwrt. Governance costs comprise ail costs involving public accountability of the charity and ils compliance with regulation and good practice. Support costs include central functions and have been allocated to activty cosl categories on a basis consistent with the use of resources, eg allocating propety costs by floor areas, or per capila, staff cosls by th8 time sp8nt and other costs by iheir usage 1.6 Tanglble Ilxed assots Tangible fixed assets are measured at cost and, net of deprecialion and any impairment losses. Depreciation is recognised so as lo wrile off Ihe cost or valuation of assets less Iheir residual values over their useful lives on Ihe following bases.. Freehold Propety Fixtures, Fittings & Equipment 25% Reducing balance The gain or loss arising on the diswsal of an asset is determined as the difference belwe8n the sale proceeds and the carrying value of the assel. and is credited or charged to profit or loss. 1.7 Impelmionl ol flxed assets At each reporting period end date, the company reviews the carrying amounts ol its langible assets lo detemiina whether there is any indication that those assels have suffered an impainnent loss. If any such indication exists, the recoverable amount of Ihe assel is estimated in order to delennine the extent of the impairment loss (if any). Wher8 11 is not possible lo estimate the recoverable amounl of an individual asset, Ihe company 8Stimales tha recoverable amounl of the cash-generating unil lo whlch the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, Ihe estimated lulure cash flows are discounted lo their present value using a pre-lax discount rat8 thal reflects current markel assessmenls ol the time value of money and the risks specific lo the assel lor which the estimates of future cash flows have nol been adjusted. 11 Ihe recoverable amount of an asset (or cash-generating unit) is eslimated to be less than its carrying amount. the carrying amounl of the assel {or cash-generating unil) is reduced to ils r0Verable amounl. An impairment loss is recognised immediately in profil or loss, unless the relevant asset is carried at a revalued amount. in which case the impairment loss is Ireated as a revalualion decrease. Recognised impairment losses are reversed if, and only if, Ihe reasons for the impaimient loss have ceased to apply. Wher8 an impairment loss subsequently reverses, the carrying amount of the assel (or cash-generaling unil) is increased to the revised estimate ol its recoverable amount, bul so that the increased carrying amounl does not exceed the carrying amounl Ihal would have been delemiined had no impairrn8nt loss been recognised for the asset lor cash-generating unit) in prior years. A reversal ol an impairment loss is recognised immediately in profit or loss, unless the relevant assel is carried al a revalued amounl. in which case the reversal of the impairment loss is treated as a revaluation increase. 1.8 Cash at bank and In hand Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks. other short-term liquid investmenls with original malurilies ol three months or less, and bank overdrafts. Bank OV8rdrafts are shown within borrowings in Currenl liabilities. ENV4555 0510612025 14'.02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 1.9 Flnanclal Instrumonts The company only has ffinancial assets ar financiaj liabilities of a kind thai qualify as Basic Financial Instruments. Financial instrumenls are recognised in the company's balance sheel when th8 company becomes party io the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounls presented in the financial stalem8nts, when there is a18gally enforceable righl Io $81 off th8 recognised amounts and there is an intention lo settle on a n8t basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclal 89gets Basic financial assets, which include deblors and cash and bank balances, are initially measured at Iransaclion price including transaction costs and are subsequently carried at settlemenl value unl8SS the arrangement constitutes a financing iransaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interesl. Financial assets classified as receivable within one year are not amortised. Cla88lllcatlon of flnanclal Ilabllltle• Financial liabilities and equity instruments are classified according to the subslance of th8 contractual arrangements entered inlo. An equity inslrument is any conlracl Ihal 8vid8nces a residual interest in the assels of the company after deducling all ol its liabilities. Baslc Ilnanclal Ilabllltl•8 8asic financial liabilities, includlng creditors and loans are initially recognised at transaction price unless the arrangemenl conslilutes a financing iransaclion, wher8 the debl instrument is measured al Ihe pr8S8nt vaiue of the ILJture payments discounted at a market rale of inler8St. Financial liabililies classified as payable withln one year are nol amortised. Debt instrumenls are subsequently carried at amortised cost, using the effective interast rate melhod. Trade creditors are obligations lo pay for goods or services Ihal have been acquired in Ihe ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due wilhin on8 year or less. If not. Ihey are presented as non-currenl liabililies. Trade credilors ar8 recognised inilially at transaction price and subsequently m8asured al amortised cosl using the effective inlerest method. 1.10 Employ•• nefItS The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part ol Ihe cost of stock or fixed assets. The cost of any unused hdiday entitlement is recLyJnised in the period in which the employee's services are received. Termination benefits are recognised immedialely as an exp8nse when th8 company is demonstrably committed to terminate th8 employment of an employee or to provide t8rmination benelits. 1.11 Rostrlclod funds Restricted funds are subject lo specih'c conditions by donors as to how they may be used. The purposes and uses of th8 restricled funds are set out in the noles lo the accounls. Distributions from restricted resources must be used for purposes consislent Wtth donor intenlion and should be the first source of funding to support programmes and aclivities meeting the restriction. 1.12 Unrostrlcted funds Unreslricted funds are funds which are available for use al Ihe discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. ENV455 0510612025 14:02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEMfs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Judgements and key sources of e$tlmallon uncertalnty In the application of the company's accounting policies, the directors are required to make judgements. eslimales and assumplions about the carrying amount of assels and liabilities that ar8 not readily apparent from other SOLJrces. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevanl. Actual results may differ from thes8 eslimales. The &stimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period ol the revision and future periods wher8 the revision affects both current and future periods. Incomlng resources Unrestrlcted Restrlcled Total funds funds 2024 Income fund8 2024 2024 Prlor year funds 2023 Donations and gift aid Other income 66.533 4.000 66,533 4,000 78,762 Total Income 70,533 70,533 80,683 Expendllur• Direct projeth costs Oonations Rates & water Insurance Heal & light Building maintenance Motoring expens8S Print, post, slalionery Telephone Cleaning Travelling Bank charges Sundry Depreciation Profiuloss on disposal of assets Expendlture on charllable a¢tlvltle¥ 7.516 7,516 9,510 7,349 4,631 12,447 770 7,349 4,631 12,447 770 1,263 7,345 3,888 15,756 2,563 859 891 3.750 60 891 3,750 60 754 2,950 27 50 22 1,842 1,538 1,538 40,215 40,215 45.566 Independent examiners fees Other f88S 600 13 590 13 13 Expendlture on governanco and support 613 613 603 ENV4555 0510612025 14'.02 PM UTC
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Employees The average monthly number of persons (excluding iruslees) employed by the company during the year was: 2024 2023 Charitable aclivities No Trustees or members of the management committee received any remuneration for worl( undertaken in the management of the charity during Ihe currenl or previous year. Taxatlon The charity is exempt from corporation tax on its charilable activities. On the basis of these financial statements Ihe company has no corporation tax liability. TangIb fix•d assets Freehold Flxtures, Property Fittlngs & Equlpment Total Cost At 1 October 2023 Additions in the year Disposals in the year AI 30 September 2024 424,163 29.602 628 453.765 628 424 163 30.230 454 393 Doproclatlon and Impalrnient At 1 C¢tober 2023 Addback on disposal Depreciation charged in Ihe year At 30 September 2024 24,077 24,077 1.538 Carrylng amounl At 30 September 2024 At 30 Septemb8r 2023 424 163 5.525 ENV455 0510612025 14:02 PM UTC 10-
PO SHIN TAO TEH ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Debtors 2024 Amounts falllng due wlthln one yoar: Prepaymenls 5.660 5,291 Credllor8: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 698 698 1,916 10 Credllor8: amoun18 falllng due In more than ono yr 2024 2023 Other credilors 120 500 120.500 120.500 ENV4555 0510612025 14..02 PM UTC