KOREAN CULTURE AND ARTS UK CIC

Company limited by guarantee

Company Registration Number:
12766202 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

KOREAN CULTURE AND ARTS UK CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

KOREAN CULTURE AND ARTS UK CIC

Directors' report period ended 31 July 2024

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

Principal activities of the company

Charitable activities (Cultural education, Educational support services and Performing arts, etc).



Directors

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

Mrs SUN HWA GRIFFITHS
Mr HYUNG SOO YIM
Mr KIL CHAN LEE


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
23 September 2024

And signed on behalf of the board by:
Name: Mrs SUN HWA GRIFFITHS
Status: Director

KOREAN CULTURE AND ARTS UK CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 9,530
Cost of sales: ( 7,063 ) ( 19,054 )
Gross profit(or loss): (7,063) (9,524)
Administrative expenses: ( 32,169 ) ( 84,070 )
Other operating income: 10,046 61,676
Operating profit(or loss): (29,186) (31,918)
Interest receivable and similar income: 62,064
Interest payable and similar charges: ( 7,588 ) ( 37,734 )
Profit(or loss) before tax: (36,774) (7,588)
Profit(or loss) for the financial year: (36,774) (7,588)

KOREAN CULTURE AND ARTS UK CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 41,613 46,237
Total fixed assets: 41,613 46,237
Current assets
Cash at bank and in hand: 438 800
Total current assets: 438 800
Creditors: amounts falling due within one year: 4 ( 17,125 ) ( 17,125 )
Net current assets (liabilities): (16,687) (16,325)
Total assets less current liabilities: 24,926 29,912
Creditors: amounts falling due after more than one year: 5 ( 61,700 ) ( 37,500 )
Total net assets (liabilities): (36,774) (7,588)
Members' funds
Profit and loss account: (36,774) ( 7,588)
Total members' funds: ( 36,774) (7,588)

The notes form part of these financial statements

KOREAN CULTURE AND ARTS UK CIC

Balance sheet statements

For the year ending 31 July 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 23 September 2024
and signed on behalf of the board by:

Name: Mrs SUN HWA GRIFFITHS
Status: Director

The notes form part of these financial statements

KOREAN CULTURE AND ARTS UK CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

    Tangible fixed assets depreciation policy

    Fixtures & fittings 10% reducing balance Computer equipment 10% reducing balance

KOREAN CULTURE AND ARTS UK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 5

KOREAN CULTURE AND ARTS UK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 56,232 850 57,082
Additions
Disposals
Revaluations
Transfers
At 31 July 2024 56,232 850 57,082
Depreciation
At 1 August 2023 10,684 161 10,845
Charge for year 4,555 69 4,624
On disposals
Other adjustments
At 31 July 2024 15,239 230 15,469
Net book value
At 31 July 2024 40,993 620 41,613
At 31 July 2023 45,548 689 46,237

KOREAN CULTURE AND ARTS UK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 17,125 17,125
Total 17,125 17,125

KOREAN CULTURE AND ARTS UK CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 61,700 37,500
Total 61,700 37,500

COMMUNITY INTEREST ANNUAL REPORT

KOREAN CULTURE AND ARTS UK CIC

Company Number: 12766202 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

THE COMMUNITIES IN THE AREA SURROUNDING NEW MALDEN, SURREY, IN PARTICULAR BUT NOT EXCLUSIVELY, TO FURTHER THEIR KNOWLEDGE OF KOREAN CULTURE AND ARTS BEING KEPT ENGAGED AND INTERESTED IN A WIDE VARIETY OF CULTURAL ACTIVITIES.

Consultation with stakeholders

No consultation with stakeholders

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
23 September 2024

And signed on behalf of the board by:
Name: Mrs SUN HWA GRIFFITHS
Status: Director