STRATHCLYDE WING HONG ELDERLY GROUP CIC

Company limited by guarantee

Company Registration Number:
SC643937 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The year 2024 marked the 35th Year of Wing Hong. All these years of experience have given us the ability to manage and deliver a community-led service and project to a high standard. Wing Hong has gained the reputation of a one-stop-centre for the elderly to participate in social activities, meet with friends and request help and support for a range of matters impacting their daily lives. Currently, Wing Hong Centre remains the only day centre which provides help and assistance to the Chinese elderly community and delivers a lunch club that caters to the cultural needs of Chinese service users in Scotland. As the Chinese community is now widely distributed across Glasgow, our centre plays an important role in maintaining and improving community ties and preserving our Chinese heritage. Achievements and performance Wing Hong Chinese Elderly Centre is the only major day care centre in the Scotland that caters specifically for Chinese pensioners. The charity helps to improve the quality of life for its members by offering appropriate, culturally sensitive assistance on medical, social and daily matters, as well as providing recreational facilities in the centre premises. The Centre has been operating for 35 years thanks to the hard work of the staff members, Board Members, volunteers and support from Glasgow City Council, Funding partner organisations. During the funding period 2023/24, our most significant achievement has been the widespread recognition of our efforts and our impactful contributions to various research studies, ensuring that the voices of our community are heard and valued.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Ms Yat Tai Tsang
Mr Wan Hei Chan
Mr Elim Ho


Secretary Mr Kwong Ming Yip

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 September 2024

And signed on behalf of the board by:
Name: Ms Yat Tai Tsang
Status: Director

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 135,438 120,581
Cost of sales: ( 8,948 ) ( 7,943 )
Gross profit(or loss): 126,490 112,638
Distribution costs: 0 0
Administrative expenses: ( 124,573 ) ( 110,330 )
Operating profit(or loss): 1,917 2,308
Profit(or loss) before tax: 1,917 2,308
Profit(or loss) for the financial year: 1,917 2,308

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 18,566 13,747
Total fixed assets: 18,566 13,747
Current assets
Debtors: 4 2,748 3,545
Cash at bank and in hand: 134,289 136,394
Total current assets: 137,037 139,939
Creditors: amounts falling due within one year: 5 ( 2,600 ) ( 2,600 )
Net current assets (liabilities): 134,437 137,339
Total assets less current liabilities: 153,003 151,086
Total net assets (liabilities): 153,003 151,086
Members' funds
Profit and loss account: 153,003 151,086
Total members' funds: 153,003 151,086

The notes form part of these financial statements

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 26 September 2024
and signed on behalf of the board by:

Name: Ms Yat Tai Tsang
Status: Director

The notes form part of these financial statements

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    All income is included in the Statement of Financial Activities when the charity has entitlement, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income: (i) Donations, legacies, membership income and investment income are included in full in the Statement of Financial Activities when receivable. (ii) Income from charitable activities is recognised as earned (as the related service is provided). Grants included in this category provides funding to support charitable activities and are recognised where their entitlement, probability of receipt and the amount can be measured with sufficient reliability.

    Tangible fixed assets depreciation policy

    (d) Tangible fixed assets Tangible assets acquired are capitalised and depreciated on a straight-line basis. All fixed assets are initially recorded at cost and only items in excess of £200 are capitalised. (e) Depreciation Depreciation is charged to write off the cost of the asset, less any residual values, over their estimated useful lives as follow: (i) Leasehold property improvements 5 years (ii) Office equipment 5 years (iii) Motor vehicles 4 years (iv) Burial grounds, lairs and memorial stones are not depreciated.

    Other accounting policies

    (c) Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation. The charity is not registered for VAT and accordingly expenditure is show gross of irrecoverable VAT. (i) Charitable expenditure comprises those costs incurred by the charity in the delivery of activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including governance costs. (ii) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the statutory independent examination fees and costs linked to the strategic management of the charity.

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 5

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 5,818 75,253 7,995 18,165 107,231
Additions 8,350 8,350
Disposals
Revaluations
Transfers
At 31 March 2024 5,818 75,253 16,345 18,165 115,581
Depreciation
At 1 April 2023 0 74,112 6,710 12,662 93,484
Charge for year 228 1,927 1,376 3,531
On disposals
Other adjustments
At 31 March 2024 0 74,340 8,637 14,038 97,015
Net book value
At 31 March 2024 5,818 913 7,708 4,127 18,566
At 31 March 2023 5,818 1,141 1,285 5,503 13,747

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 2,166 1,601
Other debtors 582 1,944
Total 2,748 3,545

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 2,600 2,600
Total 2,600 2,600

COMMUNITY INTEREST ANNUAL REPORT

STRATHCLYDE WING HONG ELDERLY GROUP CIC

Company Number: SC643937 (Scotland)

Year Ending: 31 March 2024

Company activities and impact

Wing Hong Elderly Group (Wing Hong) was established in 1989 and is based in Garnethill, Glasgow. Wing Hong exists to promote equal opportunities for the Chinese elderly community in accessing various social, health, welfare, and housing service provision. The purpose of Wing Hong is to improve the health and well-being of older Chinese community members residing in Glasgow and its surrounding areas. Our objectives are to enhance the quality-of-service users’ lives by reducing loneliness and isolation as well as maintaining and improving their independence. Wing Hong also promotes healthy lifestyle choices and raises awareness of the needs of elderly Chinese community members. Wing Hong serves the needs of our members by combining day centre provision with community facilities where they can meet like-minded members of the community as well as other Chinese people. This allows them to have lunch together and organised a diverse range of activities enabling them to participate in the social, economic, and cultural life of the city. The year 2024 marked the 35th Year of Wing Hong. All these years of experience have given us the ability to manage and deliver a community-led service and project to a high standard. Wing Hong has gained the reputation of a one-stop-centre for the elderly to participate in social activities, meet with friends and request help and support for a range of matters impacting their daily lives.

Consultation with stakeholders

Currently, Wing Hong Centre remains the only day centre which provides help and assistance to the Chinese elderly community and delivers a lunch club that caters to the cultural needs of Chinese service users in Scotland. As the Chinese community is now widely distributed across Glasgow, our centre plays an important role in maintaining and improving community ties and preserving our Chinese heritage. Achievements and performance Wing Hong Chinese Elderly Centre is the only major day care centre in the Scotland that caters specifically for Chinese pensioners. The charity helps to improve the quality of life for its members by offering appropriate, culturally sensitive assistance on medical, social and daily matters, as well as providing recreational facilities in the centre premises. The Centre has been operating for 35 years thanks to the hard work of the staff members, Board Members, volunteers and support from Glasgow City Council, Funding partner organisations. During the funding period 2023/24, our most significant achievement has been the widespread recognition of our efforts and our impactful contributions to various re-search studies, ensuring that the voices of our community are heard and valued.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 September 2024

And signed on behalf of the board by:
Name: Ms Yat Tai Tsang
Status: Director