REGISTERED CHARITY NtTMBER: SC007237 GLASGOW CHINESE CHRISTIAN CHURCH Financlal Statements for the Year Ended 31 March 2025
GLASGOW ClllNESE CHRISTIAN CHURCH Contents of the Flnancial Statements for the Year Ended 31 MY4rch 2025 Page Reference And Administrative Detalls Report of the Trustee5 2 to 8 Independent Examlnerls Report Statement of Financial Aetlvities 10 BalAnee Sheet Iyotes to the Fln&ncial Statements 12 to 19
GLASGOW CHTNFSE C.HRISTIAN CJttJRCH Reference And Admini$trative Detai for the Year FAnded 31 fTrT&rch 2025 TRUSTELS PRINCIPAL ADDRESS 2 M¢liose Street Glasgow G4 9BJ REGISTERLD CHAIU'I'Y SCOO7237 tNDEI PENDENT EXAMI_YER WDM Asso¢iRtes Oakfield House 178 Brandon Street Uothcnvell MLI IXA BANKERS Bunk of SLuiltmd 2581262 Durnbarton Road Glasgow 0116TU Page I
GLASGOW CHtNESE CHRISTIAN CHURCH Report of the Trustees for the Year Ended 31 March 2025 Th¢ trustees present tli¢ir report with the financial statementg of the charity for tli¢ year ended 31 Marcli 2025. The trustees have &dopt¢d tbe provisions of Accounting and Reporting by Charities: Statement of Recommended Practi¢¢ applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢ctive l January 2019). OBJECTIVES AND ACTIVITIES Charltable Objectives The cbaritabl¢ obj¢ctives of the chur¢h are to preach th¢ Gospel of Jesus Chti5t primarily to ethnic Chinese in and around the GI&sBOW area; to build one another up ill spiritual n]P¢Writy accotding to the teachings of the Bible, to ineet r¢gularly for worslllp> prayer, the ministry of God's word and fellowship. lo support the worldwide mission of Christ's church and to co-operate with other Christian churches and orgalliS&tions that slmre the general aims and belief of the church, especially with the Chinese Overseas Christian Missioll {C.O.C,M) and oth¢r Chinese Christian ohurch¢s and fellowshAPS. Grantmalilng policy The church tllakes grants from its tithed gift income to ittdividuals and organisations that are generally known to the Church Council ]d the church. The beneficiaries arc involved in activitie5 or ministries compatible with the church, objectives. Page 2
GLASGOW CHINESE CHIUSTIAN CHURCH Report of the Trustees for the YeAr Ended 31 Mar¢h 2025 ACHIEVEMENTS AND PERFORMANC Charltable activities Slgnlficant highllghts, events And developments Inelude the following; The aim of the Cliurch of Chris( of which we are a part, is very clear. It 16 tbe Great Commission given by the Lord and Saviour Jesus Christ to his disciples before he a8¢¢nded to h¢av¢n. IW Then Jesus came to them and said, ' All authority in heaven and on capth has been given to me, Therefore go and make disclples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, and teachlng them to obey everything that I have commandedyou. And supely l am with you always, lo the very end of the oge. (Gospel of Matthew 28.'18-20, New International Version) The Great Commission sums up the purpose of the church. We aim to reach out to the unsaved and to encourage those in th¢ faith to grow towards maturity through discipling. This tSt¢es, report highlights ¢v¢nts and activitics that aohieved this to a small degree. Church Overvie December is the Christmas season on th¢ oliurcb calendar for rememb7n8 th¢ birth of Jesus Christ. A joint Cliristmas baptlsm service was organised on 15 Dember 2024. Four brothers and sisters from tb¢ Chinese ministry were baptised before tlie congregation to testify to the salvation of the Lord Jesus Christ, Their exp¢ri¢nce of th¢ reality of God at work in their circumstances through answered prayers were amaziiig te8timoni¢s. The cliurch celebrated her 55th atLniv¢rsary on 29 Deo¢mber 2024, Following the cake-wtting cereinoDy* the church was treated, to everyone'8 delxghL a love f¢t prepared by some kind brothers attd sister8 in C]ri$t in the Cliinese ministry. Th¢y had worked tir¢lessly and lovingly so that everyone could enjoy the gweetness of fellowship in the Lord. This was a testament to th¢ church's Colltinued existence and relevance, despite her shortcomiiigs, as a beacon of light and hope for God in a frv¢gmeiit¢d WOTld that IS llJ¢reaBingly plagued with nioral darkness. Th¢ ¢burch takes no credil for growth whether in numb¢rs or iti spiritual maturity. It is God's work as is written, "l (Paul) planted. Apollo8 wat¢red but God V¢S th¢ increas¢." {1 Corinthians 3..6, 7) It was irported in tbe last TAR that the new Chinese ministy pastors were quite settled in their ministy respon8ibiliti¢s. As ne¢ds arose, oppOrtL1tie8 were presented to th¢ Chinese ministy to expand. Last August, a monthly worship service was initiated by Pastor PELU in Irvine for the bffli¢fit of memb¢rs who, for v&rious rcasons, wer¢ unable to attend Church 8¢rvi¢cs in Glasgow, Tliis SeiCe opened the way for members, rel&tiv¢$ and friends lo h¢ar God's Word. In this way, the gospel wa5 spread so that ll)ore people could Gomo to know Christ. "Faith comes tbrough hearing, and hearing the Word of God. (Romans l O.. 17) Th¢ spiritual hunger of the young and new Hong Kong immigrants to the UK led to the tormatioll of & Cantooese f¢llowship for young working adults and university sdeutS. Launch¢d in Nov¢mbei' 2024, wc¢kly incetings were held in th¢ ohuroh ceiitre on a Saturday afternoon led by Pastor Pau. In tbe last TAIL the church had submitted their views on the Scotttsh Gov¢rnrnent's proposed ban on conversion practices. At the time, there was unease that chuTch¢s could be UnflY pellalised for violating th¢ legislation should it be passed. Atler more than a year, th¢ UK Supreme Cowt has fittally rnled that gender is based on biological sex and not on gender self-recognition in the case of For Scotland Women vs. The Scottiyh Ministers. Thc Scottish Governm¢nt will not appeal against the Supr¢me Court's deoision, The landmark ruling came u a relief for the cburch upholds truth in biological scx as is written, So God created man in His own image. in the inwge of God He Created him. male and f¢niale H¢ created them., (Gcnesis 1 ..27) Page 3
GLASGOW CHINEI SE CHRISTIAN CHURCH Report of the Trustees for the Year Ended 31 March 2025 Cbur¢h Events The churcli in palerShip with HK Cliristian Music Ministries A8SOCiAtion presented "Rebir Concert an evangclisttc meeting in Cantonese, on Saturday 20 April 2024 in Findlay Church. A group of 8 musicians from presented gospel songs to a gathering of about 100 people, nearly balf of whom were new to the church, Glasgow City was their 2iid slop, The concert would take the music niinisty to m&jor aities ill Scotland and Englind over a period of 2 weeks, The Meeting began with worship followed by a v¢ry moving> touchillg J lrtspiring and spiritually uplifting personal testimony from As8vciate Professor Hon-Ho Yip of Chung Chi College, part of the Chinese University of Hong Kong, He grew up in a messy environment and was despised in school because of his inferior backgrowid, As a Child, he knew from fjrst-hand experience the sitiful nature of man, and as he grew up, tli¢ inner struggles within as is written, For I don't understand what I am doing. For I do not do wh&t I want-instead, I do what I h&te.' (Romans 7..1 S) He realized that God was his only hope to rise above his predicamellt. Through Tepentanc¢ and faith in J¢sus, he w&s transforni¢d and overcame the many obst&cles to his life. Change was no plain sailing but required hard work in coop¢ratioTh with God, He oould identify with the apostl¢ Paul as 18 written, "But by th¢ grace of God I allL what l arn, and his grace to me has not been in vain., (I Corinthians 15,10) His life transformation from "rags to riches its th¢ spirittlal realtn is nothing short of a miracle. His testimony would encourage anyone itk dire straits to count on God's love and meroy for beginning life anew in Christ. Therefore. if allyone is in Chris¢ h¢ is a n¢w creation. The old has pass¢d away> b¢hold, the new has come., (2 Corittthians 5; l 7) On Sunday 5 May 2024 th¢ church welcomed a special gu¢st sp¢aker, Rev Dr francis choi, th¢ seGrÈtary-8eneral of EquipToSeLve cl$tian Networks, Canada. After the service, he g&Y¢ a ligbt-hearted talk ort Fiv¢ Fingers TO of the Holy Land Dr Choi has years of research, knowledge and ¢xperietto¢ of the Holy Land. (He had made a trip to Israel Boon aft¢r October 7 2023 to galh¢r ftrst-hand information of the Confiict from his nuLny Israeli attd PalestiniAn friends), Using aerial photos, h¢ shared Ills knowledge about the tOPOErapby of tbe FIoly Land in 8¢ n]emorabl¢ and ent¢rt&inillg way. His talk demonstrated that the Word of God (th¢ Bible) is the foundation for truth aiid belief. God gave the prophet Daniel a vision that the great powers of anoient Babylon, Persia, Greece and Rome would be annilLilat¢d. They have long gone but the tiny nation Israel h&s survived and r¢mained to this day because of God's promise that He would not forsake Isra¢l, a people cllosen by Him, Tli¢ existeThc¢ of Israel cannot bc explain¢d without tbe God Towardg late September, the English ministy also host sp¢ciaL events to welootn¢ new sludents. There was a lantern-makinglmoonc&kes ys1O to c¢lebrate the Mid-Autumn Festival. Also, a walking-quiz was organized for partioipallts to dis¢ovcr certain land]narks around the cliurch. A 3-days retreat in Cantonese was organised in Octob¢r at the Carronval¢ House ill Fa]kirk. The speaker was from the Christian International Tbeological College based in Edinburgh. 11 was unlike p&st retreats. Participants were divided ittto groups, Each group was giv¢n a parabl¢ of Jesus to act out to aid memory and reinforce understanding. Th¢r¢ was no lack of creativity and ingenuity, The participants had a good l&ugh at their hiLarious skit&, Two eventy took place in the early part of 2025. Ch] 11 Febtuy, Enxin, which is part of the Chinese minigty, cel¢brated Chillose N¢w Year (the y¢ar of th¢ snalc¢ according to the Chin¢8e zodiac) with about 100 peopl¢ in attendance. Pastor Ip spoke on tbe theme of Christ AS the Lord of My Household" God would bless the family who honours Him. Memb¢rs also shared t¢stimoni¢s about family life. Enxin displ&yed their culinary skills in providing a sumptuous spr¢ad of mouth-watering food &nd dessettg. The English ministy held a weekend retreat from 23 to 26 Mareh 2025 on the theme Arise & Buildll based on the Book of Nehemiah, Pastor Julie Green was the speaker for all the te&chillg sessions. Tb¢ EM w&8 challenged to think about the kind of Qommunity they want to build, Page 4
GLASGOW CHllYESE CHRISTIAN CHURCH Report of the Trustees for the Year Ended 31 March 2025 Joint activiti¢8 with Findla}' Chiirch There was a lot of collaboration with Filldlay Churcb in the past year. A 2d joint service with Findlay C,burch took pla¢G on 28 April 2024. Th¢ them¢ was "Grow4llg Tog¢thcr: Heariii nc 1lilotlikf'5 Si tones Thc English ministry OC our ¢hiiT¥h led the 450 strong ¢oJnbin¢d congregation in wor4hip. deliver th¢ m¢s8&g¢. Thr¢c p¢opl¢ &onJ both chur¢hes Shrd ih¢ir stories. Th¢ seryic¢ Gonclu ¢l¥fsoiiv tiontributlllg to tbc creation of a COIIA of colourful ¢r l¢av¢s aDd flowers to exprèss Ihe thoughts they had rerei.ved from tu¢ Lord. It was also Findlay Church's 150th Anniv¢rsary, A ¢oupL& "I*B w" cApres8ing God's blesIng in Chin¢se ivas halld-written in blltI1 ¢AIkn'grftphy Hnd prcs¢ntcd to Findlay Church.. Ill English the couplet means, "God's grace has been & canopy of prot¢¢tion for 150 years. ReVGll¢¢ for the Almighty G.od is a beacon of light," Th¢ anniversary event was celebrated with lots of food pr¢parcd by both churrhcs. Thi8 ¢mbodicd what the Bible says, BehoId, Eioiv good and how pleasant it is for brethrett to dw-11 togeth¢r in unityl" (Psalm 13J.' l) tn mid-August, the church participated in wual Gala DA), in th¢ N14ryhill arca at the invitation of Fmdlay Church. This ,&8 an event of ftm actiiities open t'o the comimunity. Both churches took the opportw)ity to piibli¢isc their churcb prograrns alld to oet 10 know the community,. Flyers about our cliurc.h w¢re discributcd alld an iuvitaiion to th¢ Filldlay Church Commuftity Fun Day was extended to the many Mtmdarin-&p¢aking fau]ilics Trho came. The Fittdlay Church Comrnunity Fun Dk)-' was held in mid-SFptember 2024, Th¢ Chines¢ and EngLish ministries of our church cooperated to se,. up a joint atall to h4ve with the participants, and to Sha som¢ sp¢¢ial hom¢-made calc¢8 and pastries with them. In late Septeinber. the Englith mlnisty ojice agllln lield &h l-meal event for new 8tudenL arriv4ls in oollaboralion with Findla), ChwLh ]d b'riends lllt¢mati(Iiial. A team ot our elde..ly brothers llnd 5iStern in ChTiSt helped prepare the Chu)¢s¢ main course for the dinner. The evenitt8 Kielcc>med 65 people (Including helpers fro bottL chuT¢b¢s), with the majority of otteiidees coining from C'hina and Hong Kons. Dne freshman slid that It was the best mell she had sin¢¢ coming to Glaggowl Mav the Lord continue to guide Ix)th churches as to the role they play iti their re4pective outreach lo the community. to b¢ar witncss to Flis love and be a blessing to the communlty. The Chlnese School Over the past few deeadcs, the Cliurch lias served tbe Cliinc8e cominunity iri Gl&sgow thruugli our CliinLse scbooL offering the Chin¢8e Is]2uage )d cultural educatlon to countless Chine80 familieg cliildr¢n. Thank8 be lo GLidl Cii¢um$tance6 chAnged a8 a result of the Covid ptlndernic. The Chiiiese S¢liool was furced to suspend all classes frum I February 2020 without knowledge of when classes could resuine, The school li&d no ¢hoicc but to make th¥ tough de¢isioii to shul down the jiiiiior Chinese clat$. Thc seiiior CAntoncs¢ cltLSS¢S wcrc Ablc to Collliiiue olllini. With God's blessing ulld the d¢di¢at¢d effort of a f¢w tcach¢rs, th¢ school was ablc to hclp a Sm1 numbci. of sludLI)Ls' Lumplotc their cours¢ su¢c¢s,ifully. The lllst student ¢oinpl¢ted her Chinese stsdy al the end of Mny 2024. Shc pHsscd th¢ GCSE exam, and offi¢iully grnduat¢d from the Chinese school, To mark the last graduation ccrcinony of tlic Chin¢so school, the graduate &nd her parent8 were iDTr-ited tn our Sunday worship on 9 Junc 2024 whcrc shc w&s pr¢sciittid with hcr gradiiation oertificato and awords. It was a wonderful way for the whole cliurch to extsnd to her our dc¢pcst blcssingg. Page. 5
GLASGOW CHINESE CHIUSTIAN CHURCH Report of the Trustees for the Year Ended 31 MArch 2025 The Chinese School At the same time, it was realised that this ministy had officially ended after more than 40 y¢aTS of SeIng tlie Chin¢8e ommunity. To thanlc the brothers and sist¢rs for their contributions to tbe Chinese school over the years, a thanksgiving dinner was held in Novernb¢r 2024 for everyone who had partioipat¢d in this n]inisty FillAneial Impact The church finano¢s continued to remam healthy, Offerings, the main source of church income, bave risen to 86Q/o from 81 /0 in the previous year, Church members and friends had beell very generous in their giving to God to support the ministy of the church, Gift Aid Tax Refilnd wa8 about the Same as th¢ last flljancial year. Income Off8yfrnKS Glftaldtox rolul Staff Costs have increased from 37/0 in 2024 to 47/0 in 2025 due to both pastors in th¢ Chin¢8e ministy having conLpl¢ted their full year of employment &nd adjustments to the pastors, salaries. About otte-tbird of the 260/0 expenditure on propety and resources is attributed to 3 items, viz.: 1. £5,563 out of the building iJMirance claim of £7,267 wgs sp¢nt on rc-instating the water dtlln&ged living room 2. A rtew combi boiler and 3. New electrical switchboards which comply with th¢ latest building regulations, Expenditure strjlt tots tè Miri41',ry Proptsrty& $tspport. Page 6
GLASGOW CHllYESE CHRISTIAN CHURCH Re,port of the Ti'ustees for Ihe Year Ended 31 MAr¢h 2025 Fin&nriaE impact Foi. mission support, the church .s¢t aside £13,200 to.support Christian orgthisation8 and individuals .4erving the knrd in tli¢ Tnission field, botlL abroad and local. m.embers of th¢ church a150 contribuled a Love Gift Offering of £10,909 throiigli Ihc collectioll of a 2nd off¢TIft8 on the last Sunday of ¢ach nioiitb, This offering goes to supporling ccrtnin mi5sionaii¢s and pastors acquainted with th¢ Church, and othcr c11Stian charitable rglisatiOnS like CJlasgow City Mission, T¢rUnd and Rele¢ International with a, mission to 8crYe the Pcrsecuted Chiirch. rINANCIAL REVIEW Principal fvndln¥ 50urces' Th¢ church r¢c¢ives it8 funding from church memb¢r5 by way of w¢ckly offerillgs and Gift Aid d(mAtions, Re5eTV¢$ policy It is the policy of tELe church to maintain Yestricted funds i.¢, funds llor Gommitted or illvesd in fix¢d uss¢ts, at a Icv¢l which equat¢s to approximately three to slx months of unrcstrict¢d cxyonditure. This allows .8uffi¢i¢nt fund5 to enabl¢ the ongoittg work of the cliiirch to be mLintained. Th¢ General Fulld (Pg4g¢ 9) at 31 March 2025 amounted to £351,387 (2024 - £313,840) K,hich ivas acceptable to tlie Chur¢b Council. At 31 March 2025,th¢ ¢huwh's total reserves amounted to £751,770 of which £400.183 was "tled up" In fixed assets. I'he financial statements for tb¢ year are set out on pages 9 to 17. The Statement of Financial Activitics on page 9 reflects net incoming resources of £36,852 (2024- £29,956). STRUCTLRE, GOVEILNANCL AND WAGEI¥IENT Stalu$ of Chgritv and Governing dvcument Th¢ ¢lwity is controlled by its gov¢rniJg document, a deed of trust and constitutes an utiiucory)orated Gharlty. GIASgOW Chillese chrisi1 Church ( the cburch ) is e8tablislied by Constitution and is a Scottish (Tharity (No SCUU7237). Chureh Council and Offieè BeAre Tlic cliurcl) is indLpLndtint and coiweglltii)nal in policy and it8 day to day nmning is undertakcn by thc Council MLmbknrs wlio arL lig Trus'lbL¥ fur th¢ pun)ose of charitip law. Thc Cliurcli Cowicil and 01( B¢#rers whu bvrv¢d during tl)e ycor and io th¥ dui¢ of thi5 repori Iirere as folloivs,. Council Mcmbcrs Council Chair Holl, TrNsur¢r Hon, Sccretary Pastoral T¢a Pag¢ 7
GLASGOW CHTNFSE CHRISTIAN CHURCH Repnrt of the Trvstecs foy the Year Ended 31 IT Arch Z025 STRLCTURE, COVPRAryc ATr4D WAGEMKNT Appothtment of Councll Members Ncw Council Membets are nominated for appointment by the ¢xisting Church CouTJciI. Louncil Members serve a term of two years, ELfter which the>- can b¢ ppOinted. Prior to their appointnlent, fLCW CoLm¢il Ml¢mbers would hav¢ served thc church for some time in vlouS roles and would be familiar tbe cburch's values, Its &irna and objectiv&s a6, well as its dny-to-day operations, As part of their induction Jrogramm¢. new CouLciI Methbers are reouired to und¢Tsthnd their stAtutory responsibilitics. Kev management remuneration The tnistees consider the board of trnstees as comprisitig thc Icey m&nageMent personnel of thc Lharity in chArge of o the charity *)nd nLrng and opttrdting th¢ chariiy on a day to d&y basis. All ITUStce8 giye of directing and cotttrollin. their time freely and no trustee tteived remuntt&tion. Rlsk MRgen}ent The truslees have a duty to identify And review dje risks to which the charity is exposed and w ensure appropriate controls are in pla¢e to provide &801161¢ ussurance agRin5t fraud &nd crror. Approved by order of the board of trustees on l Oth Decernber 2025 and signcd on its behalf by: Pag¢ 8
Independent Examlner's Report to the Trustees of Cylasgfiiv Chine8¢ Chri8liAn Chureh I rcport oli th¢ accounts for the yw ¢nd¢d J l March 2025 se¢ out on pages nin¢ to eight¢¢n. Resp¢ctlve responsibilitie$ of tr115tees and exall]iD¢r Th¢ charity'.8 tru8t¢etg aT¢ responsibl¢ for the prcparation of th¢ accoiints in accordance with tlie t¢rnis af the Charitics Psnd Trustee Investmenr {S¢Dtland) AG[ 2005 and the Chariiics ACCO] (Scotland j Regulations 2006 (a8 am¢nd¢d). The cliarity's tru5tec& consider that th¢ audit r¢quiT¢n]¢nt of ReIlatIOn l O(1 )(a) io (c) of Ihe Accounts Regullltion& does not apply. It is my responsibility to CKam:ue thc accounts as requir¢d under S¢ction 44(1)(c) of the Act and to 8t&te whether particular matt¢rs hav¢ com¢ io my attcnllon, B25is of the indep¢nd¢llt cxaminer'i report My examinatlOLI was carried in accoidance with Regulation l J of the Charities Accounts {Scotl8nd) Regulations 2006. An examinatloll includes a review of the accounting r¢cord8 kept by tbe Charity and a cothporison of th¢ accounts presented with tho8e re¢ords. It also includes consideration of all>. ulluJual it¢ms or dis¢108ures in th¢ accounts, and seeking explanatioos from you a8 tnb-tees ¢oncerning any su¢h atters, Ybe woGedur¢5 undcrtaken do not provide all the evidenc¢ tl)at would be requircd in an audiL and cousquently I do )t expT¢SS an audit opinion on the iiew giY¢n by the COunts, IndepeThdellt examiner's Statement Ill COEmection with my examinatio4 no matter has corne to my att#ntion ', { l ) which Biv¢s D]c rrasonablc Call to believe thaL in ally material r¢sp¢¢t, the requirements te keep accounting i'ecords in accordance with Section 44(1)(a) of the 2005 Act and liegulation 4 of the 2006 Accounts RegUl10n8', and to prepare aLcuunls whiLh accord with the Mc¢ounLing records and tt) comply with R¢gulauon 8 of the 2006 Accounts RegulELtioiis have not been n)et' or (2) to whieh, in my opinion, aiiention should be drawn in ord#r ts) enable a proper understanding uf the ac¢ounts to b¢ reaolied. 1¢ Lount*nts WDM Associate$ OakfIcld Housc 378 Brcindon Slre¢l Motherwel.I MI.1 IXA Dat¢., IO D¢c¢mber 2025 Page 9
GLASGOW CHINESEt CHRISTIAN CHURCH Statement of FIntIal ActivitAe8 for the Year Ended 31 MAreh 2025 2025 Total nd5 2024 Total fw)ds Utlrestricted nd R¢8tricted nds Designated Notes INCOME AND EIYDOWMENTS FROM Donations and legacies 139,515 10,909 150,424 131,760 Investtnent iThcome Oth¢r incom¢ 2,888 2,888 Total 142,403 10,909 153312 139,027 EXPEL¥DITURE ON Raising fid8 556 556 464 Charitable Yd¢tivities Local Ministri¢8 National and Overseas Ministries Property and Resources 59,934 59,934 47,259 13,260 10,909 24,169 31,801 23,667 37,681 695 Total 104,856 695 116460 109,071 NET INCOMEI(EXPENDifuRE) 37,547 (695) 36,852 29,956 RECONCILIATION OF FUNDS Total funds brought forward 313,840 401,078 714,918 684,962 TOTAL FUNDS CARIUED FORWARD 351387 400,383 751,770 714 918 The notes forni part of these financial statements Page 10
GLASGOW CHIJ4IESE CHRISTIAN CHVRCFI Balance Sheet 31 March 2025 2025 2024 NDles FIXED ASSFTS Tangible se¢% 400,383 401,078 CURRETr4T ASSKTS Debtors Caskn at bank and in hand 12 9,688 345 703 9,445 307 916 355,191 317,361 CREDITORS Amounts falling du¢ wrthin one year 13 (4,004) {.3,521) T CURRENT ASSETS 351,387 313840 TOTAL ASSETS LESS CURRENT LIAJJJLITIES 751,770 714,918 NET ASSETS 714,918 ITUNDS Unrestrict¢d thnds.. General Mnd Designated AsseLs IUlla 15 35l,387 4QO 383 313,840 401078 751,770 714918 TOTAL FUINDS 751,770 714 918 Tho fjnancial statcmenls were approved by the Board of Tru8tees and aiJlliori8ed for issue on i oth December 2025 and w¢r¢,8igned on its behalf by: Th¢ notes fonu part of th¢8e financial sthtefflents P8g¢ll
GLASGOW CHJIYKSE CHRISTIAN CHURCH Notes to the FinAncial Statements for the Year Knded 31 March 2025 ACCOUN'fLyG POLICIES Basis of preparing the financtsl statements The financial statements of th¢ charity, whicli is a public bellefit eiitity under FRS 102, have b¢¢n prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reportittg by Charities., Statement of Recomm¢nded Practice applicable to charities prep&ritkg their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019),, Finan¢ial Reportiiig Standard 102 The Financial Reporting Standard &ppli¢able in the UK and Republic of Irelattd, and the ChaTjti¢8 And Trustee Investment (Scotland} Act 2005. The financial statements have been prepared under the histori¢&l cost ¢onv¢ntioll. Income All income 18 reeognised in tIL¢ Statement of Financial Activities once the charity h&s entitlement to the funds, it is probable that the income will be received and the arnount can be n]easured reliably. Expendlture Liabilities are Tecognis¢d r¢8 ¢xpenditure as soon as th¢r¢ is a legal oi constrncuve obligation conimitting th¢ charity to that expenditur¢, it is probabl¢ that a transfer of economic benefits will be required in settlen]ent and th¢ atnowit of the obligation can b¢ measured reliably. Expenditure is accounted for on an 8ccruals basis and has been classified under headings that aggregate E•ll ¢08t related to the category, Wh¢re costs cannot be directly attributed to particular headitigs they have been allocated to activiti¢s on A basis consistent with the use of resources. RY4islng lunds Funth'8ising trading costs are those cost8 incurred in actsvitieg and events to raise lld8. Governan¢e costs Governance costs include tliosc incurred in the governance of the charity and its assets and are Primarily associktcd witb constithtional and statutory requiremeiits. Tangible fixed &s$ets Heritt4bl¢ prop¢rty is stated at the Church Council's cstimate of mark¢t value at the balthnc¢ she¢t date, During the ygar ended 31 March 2009, the Trustees revalued the ¢hurohls Iieritable property at 2 M¢lrose StreeL Glasgow, frotn £500,000 to £400,000, No further revaluation was deemed necessit ry In thc y¢&r to 31 March 2024, No depr¢ciation has b¢en provid¢d on the herit&ble property. This is a departure from the requiretllent to depreciate all assets. The Church Council considers that the markct value continues to ¢xceed the revalued amow]t. Depr¢ciation 18 provided on other ass¢t groups as follows., Cott]put¢r quIpent Fixtures equipmeftt straight line Over 3 years straight line over 4 yeaTS Taxatlon The charity is exempt from t&x on ILS chaiitable llctivitie8. Fund accounting Unrestricted funds cojnprise grants ftnd other inoome reeeived for th¢ objects of the church without firtli¢r speclfied purpos¢ and are av&ilabl¢ as getteral fullds. D¢sign&ted funds represent w]restri¢ted ndS which have been earniarked by tlie Cburch Council for particular purposes. Restricted funds compris¢ incom¢ which has been r¢ceiv¢d for the objects of the churcb and specifi¢d for a rgstricted pury)ose withijj these objects by the donor, Furtber explanation of th¢ nature and puryos¢ of euch fund is included in the notes to th¢ fmall¢ial staten]ent8. Pago 12 ¢ontinu¢d,..
GLASGOW CHINESE CHRJSTIAN CHURCH Notes to the FinAn¢i81 StRtements - contknued for the Yeir Ended 31 March 2025 DONATIONS AND LEGACIKS 2025 Total funds 2024 Total funds Unrestricted nds Restricted funds Offcrings Tax r¢claim on gift aid donation8 Oth¢r gifts and donations [29,244 8,929 1,342 129,244 8,929 12,251 112,076 8,704 10,980 10,909 139,515 131,760 llYVESTMENT INCOME 2025 Total funds 2024 Total funds Unrestn'ct¢d funds Restri¢frd funds Deposit account interest 2,888 OTHER INCOME 2025 Total filnds 2024 Total funds Unr¢stricted funds Restricted funds Insurance proceeds 7,267 Other inGome was due to i'eceipt of ali insurance claim of £7,267 for water darnage to the Ghurch centre. IiAISING FUNDS Other trading aetivities 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Books, bibles and multimedia 556 556 464 CHARfi'ABLE ACTIVITIES COSTS Direct Costs (see not¢ 7) Support costs (se¢ note 8) TotalB Local Ministries National and Overs¢&s Ministries Prop¢rLy aiid Rgsour¢¢s 59,934 24,169 29,041 59,934 24,169 113,144 115904 Page 13 continued.,.
GLASGOW CHINESE CHRISTIAN CHURCH Notes to the FlnAnclal Statements- continued for the Year Ended 31 March 2025 CHARITABLE ACTIVITIES COSTS - crf)lltlnued Otber direct osts Staff costs 2025 Total 2024 Total Actlvity Local Ministries National and OverSCE4S Ministries Property and Resources 53.578 6,356 24,169 59,934 24,169 47,259 23,667 51,166 113 144 106 027 Of whlch: Relating to the General Fund R¢lating to the Design&ted Fund Rekntitig to Restricted Fwids 53,578 47,962 695 101,540 695 94,094 916 113,144 106 027 Page 14 continued..,
GLASGOW CHINESE CHRISTIAN CIIURCH Notes to the Financial Statements . continued for the Year Ended 31 March 2025 DIRECT COSTS OF CHARrrABLK ACTIVITIES R¢8trieted Unrcstriotcd Gell¢r&l Designated Funds 2025 2024 Local Mfinistries Mandaiin Ministy Speakers, fccs Cantonese Ministy Speakers, fees English Ministry Speakers, fe¢s Malld&rin Ministry expenses English Ministry expens¢s Cantonese Ministry expense Sunday scbool Chines¢ school Love feast Travel ¢xp¢ns¢s Gift for Rev Wong Training Baptism gifts Sttttionery 147 2,838 270 187 145 336 1,115 290 1,115 290 460 336 15 1,250 487 1,897 460 336 15 1,250 487 1,897 1,258 3,000 75 180 12 107 107 391 391 6,356 6,356 Natlonal and Overse4s Ll(Inlstrles Support for Missions or Organisutions Love Gifts 13,200 60 13,200 10,969 12,650 11,017 10,909 10,909 24,169 Property and Ilcsource5 Contribulions to Fiiidlay Metnori&l ChurGh Contribution to Irvine Baptist Church Gas, teleplione, electricity> wat¢r Insurance Church Centre maintenance & repair Depreciation Contiibution to comrnullity hub Coiilriblition to visual display8 Sundries and mis¢¢llan¢ous 8,000 8,000 7,200 1350 3,755 1,350 3,755 2,444 ,500 2,993 2,335 12,505 12,505 695 2,642 916 io,ooo 6,487 921 695 292 292 695 35,101 Total Other Direct Costs 47,962 695 Pag¢ 15 coiJtlllU¢d,.
CLASGOW CHINESE CHRISTIAN CHURCH Notes to the Flnfineial Statements- eontlnued for the Year Ended 31 March 2025 SUPPORT COSTS Govemanoe cost5 Propety md Resources 2,760 Support costs, included in the above, are as follows,, 2025 Property 2024 Tot¥LI activities Resour¢es Independent examinerls fee 2.580 TRUSTEES, REMUNERATION AND BENEFITS There were no tnte¢s, retnun¢ration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustee$, expenses Th¢re were no 31 March 2024, trnstees, expenses paid for the year ended 31 March 2025 nor for the year ended io. STAFF COSTS The averagc monthly number of employees during the year was as follows: 2025 2024 Local Ministries No employees r¢¢eiv¢d emoluments in excess of £60,000, ii. TANGIBLE FIXED ASSETS Fixtures Freeliold propety Computer equipment fittings Totals COST At l AprAI 2024 and 31 March 2025 400,000 13,632 5,160 418,792 DEPRECIATION At l April 2024 Charge for year 12,722 527 4,992 168 17,714 695 At 31 March 2025 13,249 18,409 NET BOOK VALUE At 31 March 2025 400,000 400,383 At 31 March 2024 400 000 910 168 401078 Page 16 continued...
GLASGOW CHINESE CHRIsTN CHURCH otes to the Flnanclal Statements - Contlnued for the Yehr Ended 31 MAr¢b 2025 12. DEBTORS: AMOUNTS FALLING DUL WITHIN ON YEIAR 2025 2024 Incom¢ tax on glft Élld donations Prepalient'S 8,518 912 8,548 897 13. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Social security and other taxes Aocrued expenses (334) 3,855 4,004 3,521 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unrestrictd fund Restricted furtds Designated Fixed asKts Curi'cnt assets ellent liabiliti¢s 400,383 400,383 355,391 401,078 317,361 354,441 3,054) 950 351387 400,383 751,770 714,918 15. MOVEMENT IN FUNDS Net movcment in funds At 31.3.25 At 1.4.24 Unrestrieled funds Gen¢r&l fund Designated Assets Fwid 313,840 401078 37,547 351,387 400,383 '714,918 751,770 TOTAL FUNDS 714 918 36,852 751,770 Pag¢ 17 continued...
GLASGOW CHINESE CHRISTIAN CHURCH Iyotes to the FlnanclAI St&tements - eontlnued for the Yeir Ended 31 Illarch 2025 15. MOVEMENT IN FUNDS- continued Nct movement in fijnds, included in tlje above ar¢ as follows: Incoming resources Resources expend¢d Movement in fund8 Unrestrlcted funds General fund Designaled Assets Fund 142,403 (104,856) 37,547 142,403 (105,551) 36,852 Restricted funds Love Gift Fund 10,909 (10,909) TOTAL FUNDS 153,312 116,460) 36,852 Compar74tives for movement In funds Net movement in funds Transfers between fuJds At 31.3.24 At 1.4,23 Unrestricted funds Gen¢r&l f]d DeBignated Assets Fund 282,968 401,994 30,922 916 (50) 313,840 401,078 684,962 30,006 (50) 714,918 Restricted funds Love Gift Fund (50) 50 TOTAL FUNDS 684,962 29,956 714,918 Comparativ¢ net movement in fund&, included in the above are as follows,. Incorning resources Resources ¢xp¢nd¢d Movem¢nt An funds Unrestricted fund5 Genetal nd Designat¢d Assets Fund 128,060 (97,138) 30,922 916 128,060 (98,054) 30,006 Restricted funds Love Gift .Fund 10,967 (11,017) (50) TOTAL FUNDS 139 027 109,071) Explanation of funds Th¢ General Fund ¢noompa88es all income and expenditure relating lo the Priary focus activities of Ilie ¢hur¢h, other than those for which funding is restricted, Pag¢ 18 continued..
GLASGOW CHINLI SE CHRISTIAN CHURCH Notes to the Financlal St&tements - contlnued for the Year Ended 31 March 2025 15. IIIOVEMENT IN FUNDS - contlnued The Desigtlated Assets Fund repr¢$ent8 th¢ n¢¢ book value of the Church's fixed assets, which would not be readily ¢onv¢rLible into cash. Tbc Love Gift Fund repres1t8 fundg rai8¢d to provide gifts to a v&ri¢ty of projects. 16. RELA TEI D PARTY DISCLOSURES Tb¢r¢ wer¢ no relat'ed paty trs&ClIOnS for the y¢ar ended 31 March 2025. 17. SUPPORT GRAN'rs Support grants totallillg £13,200 were awarded to charities, institutions wd individuals during tbe acGounting year as follows: PayeelBen¢ficiary Joseph Pan Findlay Meniori Cburch COCM OMF IntvrltlOllaI International Missioii to J¢wisb People Operation Mobilisation Lloyd Lee 2,400 2,400 2,400 2,400 1,200 1,200 1,200 13,200 Pag¢ 19