BELFAST CHINESE CHRISTIAN CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 202349fi30Pff
BELFAST CHINESE CHRISTIAN CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 TABLE OF CONTENTS PAGE Charity Information Trustees, Eleport Independent Examiner's Report Statement of Financial Activity Statement of Assets and Liabilities Notes to the Financial Statements 8-10 Detailed Income and Expenditure Accounts General Fund Account Building Fund Account 12 Chinese School Fund l2
BELFAST CHINESE CHRISTIAN CHURCH Page I CHARITY INFORMATION Trustees Frank Chong Kin Huat Ang - (Treasurer) Simon Au (Chairperson) Chunai Jin David Yue Kit Lo Lai Chu Chi1( ng Chiu Fai Ronny Lam Registered Charity Number NICIO5821 Church Address Lorne Street Bel fast BT9 7DU Independent Examiner Johnston Kennedy DFK Chartered Accountants 10 Pilots View Hei'on Road Belfast BT3 9LE Bankers Danske Bank POBOX 183 Donegall Square West Bel fast BTI 6JS
BELFAST CHINESE CHRISTIAN CHURCH Page 2 TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEwfEMBER 2023 The trustees present their annual report together Nvith the unaudited financial statements for the year ended JO September ?023. Description and Purpose The objects of the Church are to advance the Christian Religion and such other charitable purposes as the Church shall determine and in furtherance of these objects the Church shall exist:. To preach the gospel of Jesus Christ, primarily, but not exclusively, to the Chinese in Northern Ireland. To provide a spiritual home for Christians and to care for their spiritual welfare. To equip for Christian service, including those who will be returning to their home country. To cooperate with Chinese churches and felloivships, other churches and societies whose doctrinal position agrees with ours. To relieve those persons ivho are in conditions of need, hardship and distress. Public Benefit Statement The principal benefits which flow from the purposes of the Charity are as follows:. a clearer and better understanding of the Gospel of Jesus Christ for the Chinese people and members of the general public. improving the spiritual life of those who profess to hold the Christian faith, helping them to overcome any spiritual difficulties they may have. the strengthening, through the Word of God, of those who profess to hold the Christian faith, so that they can stand firmer in their faith and be able to share the Gospel of Jesus Christ Ivherever they go. improving and expanding the work of the church, through the sharing of resources, and the transfer of skills, knowledge and experience with organisations which the church cooperates with. al leviating those in distress and improving the conditions of those who are in hardship. These benefits are evidenced through regular formal and informal feedback from church volunteers, members of the church, and those who attend the various meetings organised by the church, and through the provision of aid to other charitable organisations. There is no harm arising from any of the purposes. Our beneficiaries are: general public, men, women, parents preschool (0-5 year olds) children (5-13 year olds) and youths (14-25 year olds). There is no private benefit flowing from any of the purposes. Structure governance and management The Belfast Chinese Christian Church is an unincorporated association governed in accordance with its constitution. The church governance structure comprises a board of trustees, board of elders and church committee. The church committee nieet on a monthly basis to oversee the management of the financial and administrative matters of the church. The annual report and financial accounts are presented to church members at the annual general meeting.
BELFAST CHINESE CHRISTIAN CHURCH Pllge 3 TRUSTEES, REPORT - continued Activities and Performance The Beltast Chinese Christian Church holds weekly Sunday church services. The services are conducted in English, Mandarin and Cantoiiese. Other activities include Sunday school, youth group meetings, children's meetings, Bible study groups. outreach events, Bible-based training, short-tei'm missions and a Chinese language school. The church had an average of140 Inembers during the year and over 30 volunteers who assisted in delivery of church activities. Financial Review The results for the year are set OLIt on pages 6 to 10. During the year the Church generated a general fund deficit of £13,120 before transfer ot £1,160 froin the Chinese School and a building t.und surplus of £306. At the year end the Unrestricted Funds amounted to £411,341 with the Building Fund amoLinling to £566,041 of which £277,067 was designated as fixed assets. Responsibilities in respect of Financial Statements The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and Uiiited Kingdom Generally Accepted Accounting Practice. The Trustees are required to prepare financial statements for each tinancial year which give a true and fair view of the state of affairs of the congregation and the financial activities for that year. In preparing the financial stateinents, the Triistees are required to: select suitable accounting policies and then apply them consistently; make jLidgemeiitS 1( nd csliiii<lles tlial are I'easi)n(Ible aiid pi'Lideiit' and prepare Ilie financiic I staleiiieiils on the &yoing concern basis unless it is inappropriilte to presume that the Charity wil l Loiitinue iii operatioii. The TrLlStees are responsible foi. keeping adequate a¢couiitiiig records that al'e sufficient to show and explain the Charity's traiisactions and disclos¢ with reasonable accuracy at any time the financial positioii of the Church and enable the Trustees to ensure that the financial statements comply with the Statement of Recoinmended Practice "Accounting and Reporting by Charities ( l January 2019)" They are also responsible for safeguarding the assets of the congregation and hence for taking reasonable steps for the prevention and detection of Fraud and other irregularities.
BELFAST CHINESE CHIUSTIAN CHliRCEI Page 4 TRUSTEES, REPORT- continued Reserves Pollcy The reserve policy of the Church is to accurnulate resources in order to fund ongoing ministry work and to deliver oll the vision in respect of a new building project. Risk Review A review of major risks has been undertaken by the Tnte¢S and systems and procedures implemented to manage identified risks. The principal risks are in relation lo the likelihood of reputational damage and flnancial risks associated with the expectation of ongoing financial support from m¢mb¢rs. These risks are mitigated by the Trustees, and the Congregational Committee, regularly monitoring the various activities of the congregation at staled meetings and by encouraging members in their regular giving. Approved by the board of Trustees at a meeting on and signed on its behalf by.. Simon Au Chairperson Kin Huat Ang Treasurer Date
BELFAST CHINESE CHRISTIAN CHURCH Page 5 INDEPENDENT CI XAMINERS REPORT TO THE TRUSTEES OF BELFAST CHINESE CHRISTIAN CHURCH I report on the accounts of the charity for the year ended 30 September 2023 set out on pages to 6 to 10. Respective responsibilities of Trustees and Eiaminer As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibility to: examine the accounts under section 65 of the Charities Act: follow the procedures laid down in the general Directions given by the Charity Cominission for Northern Ireland under section 65{9)(b) of the Charities Act- and state whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity accounts as required under section 65 ot'the Charities Act and my examination was carried out in accordance with the geiieral Directions given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting recoi'ds kept by the charity and a comparison of the accounts presented with those records. It also i ncluded consideratioii of any unusual items or disclosures in the accounts, and seeking explanations from you as Charity trustees concerning any SLich matters. My role is lo slclte whether ic ny m£llerial ImLillers have coine to OLif ¢1ttention gyiving Ine Cciuse to bel ieve.. l Thal accoLintiiig records were not kept in accordance witli section 63 of the Charities Act 2 Tliat the accouiits do not accord with those accounting records 3 That the accounls do not comply with the accounting requirements of the Charities Act 4 That there is further information needed for a proper understanding ofthe accounts to be reached. Independent examiner's statement I have coinpleted my examination and have no concerns in respect of the Inatters ( S ) to (4) listed above and, in connection with following the Directions of the Charity Cornmission for Northern Ireland, I have found no matters that require drawing to your attention. age FCA Johnston Kennedy DFK Chartered Accountants 10 Pilots View Heron Road Belfast BT3 9LE Date Jzl24
BELFAST CHINESE CHRISTIAN CHURCH Pa%e 6 STATEfvIENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED30 SEPTEMBER2023 20239A30E Unrestricted Funds Restricted Funds Total 2023 Tolal 2022 Income Notes Donations and legacies Charitable activities Investments Other 16),949 4,466 ,262 600 16J,949 4,466 17i,40J 4,806 9JO i68 600 Total income 170,277 368 170,645 183,176 enditure Raising funds Charitable activities (62) (62) (182,2i7) (182,2i7) (14i,32i) Total ex enditure (182,237) (62) (182,299) (145,371) Net incornel ex enditure (11,960) 306 (11,654) 37,805 Transfer between funds 18,640 18,640) Net movement in funds: 6,680 (18,334) (11,654) 37,805 Reconciliation of funds: Funds brought forward 404,661 584,i75 989,036 9jl, ?31 Total funds earried forward 411,341 566,041 977,382 989,036
BELFAST CHINESE CHRISTIAN CHURCH Pagc 7 STATAMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2023 I(1%20239Fj3o& *ff 2023 2022 FIXED ASSETS Land Buildiiigs Equipiiient Fixtures and Fittings 150,000 107,022 16,990 3,055 150,000 113,655 15,351 3,861 277,067 282,867 CURRENT ASSETS Prepayments Repayable Cliurcli Support Baiik Investinent Accouiits l£¢tF11 Baiik Curreiit Account Petty Casli 2,162 40,000 154,020 507,824 92 704,098 1,599 45.000 153.208 513.913 110 713,830 CURRENT LIABILITIES Acci'ii<ils Defreri'ed Incoin¢ Otliei- Creditors 2,680 103 1,000 3,783 2,206 4,455 1,000 7,661 NET CURRENT ASSETS 700,315 706,169 TOTAL NET ASSETS 977J82 989,036 resented b Geiieral Fund Biiilding Fuiid 411,341 277,067 288,974 404,661 282.867 301,508 Designated Reserve 977,382 989,036
BELFAST CHINESE CHRISTIAN CHURCH PAge 8 NOTES FORIWIIENG PART OF THE FINAYI CIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOULNTING POLICIES Basis of financial statements The charity consliiutes a public benefit entity as defined by FRS 10? The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportino Standard applicable in the UK and Republic of Ireland (FRS 102) issued October ?019, the Charities Act (Northern Ireland) 2008 and UK Generally Accepled Practice as it applies from l January 2019. Fund Accounting Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the congregation for specific use in the future. Reslri¢¢ed funds comprise (a) income from endowments which is lo be eypended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent balances. interest on their pooled investment is apportioned lo the individual funds on an average basis. Endowment funds are funds, the capital of which mus¢ be retained either permanently or at the congregation's discretion. the income derived from the endowment is to be used either as restricted or unr¢slricled income funds depending upon the purpose for which the endowment was established in the first place. Aecounting eonvention These financial statements have been prepared under the historical ¢ost basis of accounting. Depreciation Depreciation has been charged al such rates as will write off the cost of fixed a55ets in equal instalment5 over their expected useful lives. Land Building Equipment Fixtures and Fittings NIL 50/0 Straight Line ?OO/o Straight Line I 00/0 Straight Line Taxation The church is a charity registered with the Charity Commission for Northern Ireland. Charity number NIC105821. DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total 2023 rotal 2022 Recorded Givin General Offerings Mission Donations Gift Aid Tax Refunds Special Offerings 131,101 6,054 12,961 13,833 131,101 6,054 12,961 13,833 128,211 12,988 8,987 25,215 163,949 163,949 175,401
BELFAST CFIINESE CEIRISTIAN CHURCFI Page 9 NOTES foRfvIING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER2023 CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Chinese School Income 4,466 4.466 4, 806 4.466 4.466 4, 8Q6 OTFIER INCOME unStrICted Funds Restricted Funds Totsl 2023 Total 2022 Interest Received Sundry Income 1.262 600 368 1.630 600 910 2,059 1,862 368 2.230 2,969 CFIARITABLE EXPENDITURE Unrestricted Funds Restricted Funds Total 2023 Total 2022 Charitable expenses Governance c0515 181,129 1.108 181,129 1,108 144,284 1,041 182.237 182,237 145,325 SUMMARY OF NET ASSETS BY FUNDS Unrestricted Funds Restricted Funds Total Fixed A55ets Net Current Assets 277.067 288.974 277.067 700,315 411,341 411.341 566,041 977,382
BELFAST CHINESE CHRISTIAY CHURCH Page 10 NOTES FORIMING PART OF THE FIIYANCIAL STATE1[ENTs FOR THE YEAR ENDED 30 SEPTEITrlBER 2023 RECONCILIATIOIY OF MOVEMENT OF FUNDS Unrestricted Restricted Restricted Funds Fund Fund Pro er Reserve Total Balance brought forward l October ?0?? Movement in year Surplus from building fund Surplus from Chine5¢ school 404,661 (13,1?0) 282.867 301,508 989,036 (13,1?0) i06 1,160 306 1,160 Transfer from building fund 18,640 5,800) (1?,840) Balance ai 30 September 2093 411.341 ?77,067 ?88,974 977,382 FIXED ASSETS Land Building Equipment Fixtures & Fittings Total At Cost Balance l October ?0?? Additions Disposals Balance 30 September ?0?3 150,000 ?03,852 61,888 6,301 ?8,491 444,?Jl 6,301 150,000 20J,85? 68,189 28,491 450,53? Depreciation Balance l October 2022 Charge for year Elimination on disposal Balance 30 September 2023 90.197 6,633 46.537 4,662 24.630 806 161.364 12,101 96,830 51,199 25.436 173,465 Net Book Value As at JO September 2023 150,000 107,022 16,990 3,055 277,067 As at 30 September 2022 150,000 I l3,655 15,351 3,861 282,867 SUPPORT COSTS Chiu Fai Ronny Lam received remuner&tion in the amoun¢ of £31,15? for pastoral 5ervice5 and £996 of pension contributions. K M Loo received remuneration in the amount of £18,967 for pastoral services and £509 of pension contribution5. Canmy Ma received remuneration in the amount of £10.500 for adminislralive services and £233 for pension contributions. io. CONTROL Belfast Chinese Christian Church is controlled by the members. GOVERNANCE COSTS- ACCOUNTANTS REMUNERATION Remuneration for accounting services in the amount of £923 (excluding vat) is payable for the year.
BELFAST CHINESE CHRISTIAN CHURCEI Page I GENERAL FUND INCOfvIE AND EXPENDITURE ACCOUNT FOR TFIE YEAR ENDED30 SEPTEIBER 2023 2023ÉF9fi 30 FI 2023 2022 INCOI¥IE CJLnLral Ol'fcrings Mission Donic tions Gill Aid 'l'iLX RLfiinds InlLfLSt R¥c¢iv¢d Siiiidry IncomL" SpLcial OIT¥ring5 128.211 6.054 12.961 1.262 600 13.833 165.811 8.987 806 2,059 2),?15 178,266 EXPENDITURE Pastor's Salary Work¢ls lary Pusioral Exp¢nsLS Pciision Costs Mission Donations Outrea¢li Gills Siiiid¢iy Scliool Edu¢ciliofl and l-rclining Cl)urch AclivillLS Sp¥akLr r.XPLI).%L Siiiidry CxpL1I5LS Library ExpcnsL5 ALV()IinlanLy RLlrLbliiniiils SpLblcil Qll¥riii¥. .1 il¢plionL RLpairs und MaintLncll)¢C InsiifcinLL l-Ii(Il and Ligh OI'IICL Ixplnscs CILaniiig Bank Charges Dcprlciation Jili(I'.Jlfi 31.152 29.467 1.647 1,8?3 25.183 3.076 23.435 RIF 99 747 32.102 8,175 918 J.070 5?7 8,590 2.Y98 500 90 850 8.170 1.942 I, ID 351 13,1133 1,273 15,)61 1,606 7,097 2,832 5.841 322 12.101 l.lQ5 ?).215 7)7 7.308 1,701 4,112 3,451 6,221 372 9,521 SII•Ak t 178.931 141.985 GENERAL FUND INCOMEIIEXPENDITURE} FOR THE YEAR 13,120 MOVEMENT OF FUNDS GLnLral fund risLfvL brouglil lorward 404.661 378.569 TNnsfLr from ChincsL' School 4JX4# 1.160 1.466 TruiisfLr (loiifrom building lund 18.640 1.6)) 424.461 368.380 GENERAL FUND RESERVE CARRIED FORWARD 411341
BELFAST CHINESE CHRISTfAN CHURCH Po%e 12 DESIGY.4TED F(IINDS INCOIIE.4ID E.XPEI'DITliRE ACCOI'YI T FOR THE YEAR ENDED 30 SEPTEfvIBER 2023 202349A30att 2023 2022 BUILDING FUND INCOlE Income Collections Gift Aid Tax Refunds Bank Inierest Retum of eolleciions 368 104 Expenditure Bank Charoes Leg¥LI and Professional tT*I (6?) NET INCOfvIEI(EXPENDITUREI FOR THE YEAR 306 58 MOVEIENT OF FUNDS Reserves brou2ht foriyard Net surplus for year fvlaintenance eKpendilur¢ - Building fund account Capital expenditur¢ Depreciation Transfer to %eneral fund 584,375 306 572,661 58 {]? 8401 6.301 (i? 1011 21.176 19.5?1 } 18.6401 11.6)5 RESERVES CARRIED FORWARD 566041 584 375 CHINESE SCHOOL FUND Income 4.806 Eip¢nditur¢ 13.3061 13.340) NET INCOMEI{EXPENDITUREI FOR THE YEAR 1,160 TRANSFER TO GENERAL FUND