Chinese Welfare Association Limited - Charities report

REGISTERED COMPANY NUMBER: NI019141 (Northern Ireland)

REGISTERED CHARITY NUMBER: NIC100566

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2024 TO 31ST MARCH 2026

FOR

CHINESE WELFARE ASSOCIATION LIMITED -

THE

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

5

Independent Examiner's Report

6

to

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Notes to the Financial Statements

11

to

18

TRUSTEES

Wai Ching Wong

Ping Kwan Li

Wai Heung Lam

Yun Fai Wong (resigned 13/5/2025)

Yuet Kwan Lee

Mo Yuen Tsang Lee

Jiemin Tomita

Jin Zhen

Lili Li

Chang Hai Zhu

Ling Sun

John Cleaver Stewart

Tung Loi Tsang (resigned 13/5/2025)

Min Shen

Yuanyuan McCoo Zhang

Wei Xia

Fenglian Carter

Sally Gillespie (appointed 13/5/2025)

Wai Cheong Lee (appointed 13/5/2025)

COMPANY SECRETARY

Min Shen

REGISTERED OFFICE

1 Stranmillis Embankment

Belfast

Co. Antrim

BT7 1GB

REGISTERED COMPANY NUMBER

NI019141 (Northern Ireland)

REGISTERED CHARITY NUMBER

NIC100566

INDEPENDENT EXAMINER

M.B.McGrady & Co

Chartered Accountants

Suite 2B

Cadogan House

322 Lisburn Road

Belfast

Co. Antrim

BT9 6GH

BANKERS

Danske Bank

Donegall Square West

Belfast

BT1 6JS

The trustees present their report with the financial statements of the charity for the period ended 31 March 2026. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

OBJECTIVES AND ACTIVITIES

Strategic Aims

The Chinese Welfare Association has seven core strategic aims:

1. Enabling and supporting community development and developing the community infrastructure within the community;

2. Providing or securing services which meet the social and health needs arising out of the disadvantaged position of the Chinese community;

3. Enabling children and young people to realise their full potential as active citizens within both the Chinese and wider community;

4. Developing a greater cultural awareness within both the Chinese and wider community and working towards the elimination of racism and discrimination;

5. Securing the resources and facilities needed to achieve the core aims of the organisation;

6. Using our unique community's experience to provide leadership and mentorship to other BME communities; and

7. Supporting and strengthening links between Northern Ireland and the Peoples Republic of China.

Volunteers

The charity is grateful for the efforts of its volunteers who are involved in services provision and fund-raising.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Chinese Welfare Association of Northern Ireland (CWA) has continued to make significant progress towards achieving its seven strategic objectives throughout the reporting period. We have remained committed to supporting the four key outcomes of the Racial Equality Strategy 2015-2025 (Current successor document under development: Draft Framework for Race Relations): ensuring equality of access to services, celebrating cultural diversity, fostering a strong sense of belonging, and contributing to the elimination of racial discrimination.

During the year, we experienced continued growth in service uptake, with increasing user confidence and a consistent level of repeat engagement across our programmes. This sustained demand reflects the trust that our communities place in our organisation. Increased utilisation of our premises has also resulted in higher levels of income generation through room hire and facility rentals, contributing to our long-term sustainability.

Our health and wellbeing contracts, together with core funding from The Executive Office (TEO), have enabled us to effectively meet the needs of the diverse communities we serve. The level of TEO core funding awarded to CWA demonstrates our proven ability to work collaboratively across minority ethnic communities and support their development and integration.

CWA continues to maintain high standards of governance and financial management. Despite experiencing a challenging leadership transition during the year, the organisation remained committed to strong financial oversight and accountability. TEO recognised these efforts by awarding CWA a "ADEQUATE" verification rating, providing assurance to stakeholders that resources are being managed responsibly, transparently, and effectively.

All funded projects successfully achieved their agreed outcomes during the year, with several programmes exceeding their Key Performance Indicator (KPI) targets. This reflects the dedication of our staff, volunteers, and partners, as well as the ongoing relevance and quality of the services provided

Fundraising activities

Recognising the ongoing building maintenance needs of the organisation, CWA successfully secured £15,000 through the Chinese Community Development Fund. This funding enabled essential repair and renovation works to be carried out, helping to ensure a safe, healthy, and welcoming environment for staff, volunteers, service users, and the wide range of activities delivered at the centre.

Feedback received across all services remains overwhelmingly positive. Service users consistently report high levels of satisfaction, valuing both the practical support they receive and the sense of community and belonging fostered through our programmes. These outcomes are a testament to the commitment, professionalism, and compassion of our staff team, who remain at the heart of our service delivery.

Through their dedication, clients have been empowered not only to address immediate challenges but also to build resilience, improve their wellbeing, and thrive within Northern Ireland's diverse society.

FINANCIAL REVIEW

Financial Review

The results for the year are set out in detail on pages 6 to 17.

Reserves policy

It is the policy of the charity to maintain free reserves which matches the needs of the trust, both at the current time and in the foreseeable future. This provides sufficient funds to cover running costs which include management, administration and support costs. Free reserves are those unrestricted reserves not designated or invested in fixed assets which are available for general use. These include activities created through income generation.

Funding

The principal funding is from grants. A list of these can be found in note 12 on page 14.

FUTURE PLANS

The centre is now over 10 years old and will need some refurbishment due to simple wear and tear. The management committee have begun a new round of community fundraising helping to meet the gap which funding, and income generation is not able to completely meet (our service level agreements provide little for overheads). We have been encouraged by the financial commitments we have received already before the campaign has been officially launched.

We do have a strong volunteer base, and this helps support our work, but we will certainly need to coordinate it better in order to maximise the use of the centre.

CWA continues to make a significant contribution to a resilient and diverse Northern Ireland. We have an experienced staff team who are ready and willing to strive for our future. I am confident CWA will go from strength to strength. We must not however be complacent in our achievements but press forward to extend our ambitions and scope of influence.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees' and officers' liability

During the year the Company maintained insurance cover against liabilities incurred whilst acting in their capacity as trustees or officers of the company.

The trustees who served during the year were:

Danny Wai Ching Wong

Lili Li

John Cleaver Stewart (resigned 01 March 2026)

Mo Yuen Tsang Lee

Arthur Ping Kwan Li

Wai Heung Lam

Yuet Kwan Lee

Jiemin Tomita

Jin Zhen

Chang Hai Zhu

Ling Sun

Min Shen

Yuanyuan McCoo Zhang (resigned 16 February 2026)

Wei Xia

Fenglian Carter

Yun Fai Wong

Tung Loi Tsang

Approved by order of the board of trustees on 29th July 2026 and signed on its behalf by:

Lili Li - Trustee

I report on the accounts of the company for the period ended 31 March 2026, which are set out on pages six to seventeen.

Respective responsibilities of charity trustees and examiner

As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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 Commission for Northern Ireland under Section 65(9)(b) of the Charities Act

- state whether particular matters have come to my attention.

Basis of the independent examiner's report

I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006

2. That the accounts do not accord with those accounting records

3. That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland

4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in Ireland which is one of the listed bodies.

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Kim Rainey FCA

M.B.McGrady & Co

Chartered Accountants

Suite 2B

Cadogan House

322 Lisburn Road

Belfast

Co. Antrim

BT9 6GH

29th July 2026

PERIOD

1/10/24

TO

YEAR ENDED

31/3/26

30/9/24

Restricted

Unrestricted

Restricted

Capital

Total

funds

Funds

funds

Notes

£

INCOME AND ENDOWMENTS

FROM

Donations and legacies

143,154

1

-

143,155

61,676

Charitable activities

Restricted

-

346,897

-

346,897

193,204

Investment income

2

100

-

100

56

Total

143,254

346,898

-

490,152

254,936

EXPENDITURE ON

Charitable activities

Restricted

-

346,898

45,816

392,714

224,441

Unrestricted

55,658

-

55,658

51,523

Total

55,658

346,898

45,816

448,372

275,964

NET

INCOME/(EXPENDITURE)

87,596

-

(45,816

)

41,780

(21,028

)

RECONCILIATION OF FUNDS

Total funds brought forward

318,025

-

740,100

1,058,125

1,079,153

TOTAL FUNDS CARRIED

FORWARD

405,621

-

694,284

1,099,905

1,058,125

2026

2024

Notes

£

FIXED ASSETS

Tangible assets

7

1,011,217

1,056,289

CURRENT ASSETS

Debtors

8

30,284

20,864

Cash at bank and in hand

74,916

22,551

105,200

43,415

CREDITORS

Amounts falling due within one year

9

(16,512

)

(41,579

)

NET CURRENT ASSETS

88,688

1,836

TOTAL ASSETS LESS CURRENT LIABILITIES

1,099,905

1,058,125

NET ASSETS

1,099,905

1,058,125

FUNDS

12

Unrestricted funds

405,621

318,025

Restricted funds

694,284

740,100

TOTAL FUNDS

1,099,905

1,058,125

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to small charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29th July 2026 and were signed on its behalf by:

Lili Li - Trustee

Wai Ching Wong - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Buildings - 2% Straight line

Office Equipment - 20% Reducing balance

Fixtures & Fittings - 33.3% Reducing balance

Other Equipment - 25% Reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are funds of the charity consisting of a General Fund which is expendable at the discretion of the trustees in furtherance of the charitable objectives of the charity and which has been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for a particular purposes. The cost of raising and administering such funds are charged against the specific fund.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	INVESTMENT INCOME

PERIOD

1/10/24

TO

YEAR ENDED

31/3/26

30/9/24

£

Deposit account interest

100

56

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

PERIOD

1/10/24

TO

YEAR ENDED

31/3/26

30/9/24

£

Independent Examiners Fee

2,400

1,800

Depreciation - owned assets

47,291

31,237

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31st March 2026 nor for the year ended 30th September 2024.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31st March 2026 nor for the year ended 30th September 2024.

5.	STAFF COSTS

The average monthly number of employees during the period was as follows:

PERIOD

1/10/24

TO

YEAR ENDED

31/3/26

30/9/24

Administrative staff

7

No employees received emoluments in excess of £60,000.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Restricted

Unrestricted

Restricted

Capital

Total

funds

Funds

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

61,676

-

61,676

Charitable activities

Restricted

-

193,204

-

193,204

Investment income

56

-

56

Total

61,732

193,204

-

254,936

EXPENDITURE ON

Charitable activities

Restricted

-

193,204

31,237

224,441

Unrestricted

51,523

-

51,523

Total

51,523

193,204

31,237

275,964

NET INCOME/(EXPENDITURE)

10,209

-

(31,237

)

(21,028

)

RECONCILIATION OF FUNDS

Total funds brought forward

307,816

-

771,337

1,079,153

TOTAL FUNDS CARRIED FORWARD

318,025

-

740,100

1,058,125

7.	TANGIBLE FIXED ASSETS

Fixtures

Long

Office

and

leasehold

Machinery

fittings

£

COST

At 1st October 2024

1,527,216

43,901

78,459

Additions

-

2,219

-

At 31st March 2026

1,527,216

46,120

78,459

DEPRECIATION

At 1st October 2024

473,432

42,038

78,382

Charge for year

45,816

1,225

38

At 31st March 2026

519,248

43,263

78,420

NET BOOK VALUE

At 31st March 2026

1,007,968

2,857

39

At 30th September 2024

1,053,784

1,863

77

Library

Other

Books

equipment

Totals

£

COST

At 1st October 2024

2,433

11,368

1,663,377

Additions

-

2,219

At 31st March 2026

2,433

11,368

1,665,596

DEPRECIATION

At 1st October 2024

2,433

10,803

607,088

Charge for year

-

212

47,291

At 31st March 2026

2,433

11,015

654,379

NET BOOK VALUE

At 31st March 2026

-

353

1,011,217

At 30th September 2024

-

565

1,056,289

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

Trade debtors

2,544

18,664

Other debtors

26,257

-

Prepayments and accrued income

1,483

2,200

30,284

20,864

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

Other loans (see note 10)

1,000

33,038

Trade creditors

8,794

4,560

Social security and other taxes

3,697

2,158

Other creditors

623

24

Accruals and deferred income

2,398

1,799

16,512

41,579

10.

LOANS

An analysis of the maturity of loans is given below:

2026

2024

£

Amounts falling due within one year on demand:

Other loans

1,000

33,038

11.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

2026

2024

Restricted

Unrestricted

Restricted

Capital

Total

funds

Funds

funds

£

Fixed assets

316,933

-

694,284

1,011,217

1,056,289

Current assets

105,200

-

105,200

43,415

Current liabilities

(16,512

)

-

(16,512

)

(41,579

)

405,621

-

694,284

1,099,905

1,058,125

12.	MOVEMENT IN FUNDS

Net

At

movement

At

1/10/24

in funds

31/3/26

£

Unrestricted funds

General fund

318,025

87,596

405,621

Restricted funds

Restricted Capital Funds

740,100

(45,816

)

694,284

PHA Chinese Advocacy

-

(15,164

)

(15,164

)

PHA BME

-

15,164

740,100

(45,816

)

694,284

TOTAL FUNDS

1,058,125

41,780

1,099,905

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

143,254

(55,658

)

87,596

Restricted funds

Elderly Group

74,566

(74,566

)

-

Restricted Capital Funds

-

(45,816

)

(45,816

)

The Executive Office

87,201

(87,201

)

-

Belfast City Council

44,378

(44,378

)

-

PHA Chinese Advocacy

54,927

(70,091

)

(15,164

)

STEP

30,795

(30,795

)

-

PHA BME

55,031

(39,867

)

15,164

346,898

(392,714

)

(45,816

)

TOTAL FUNDS

490,152

(448,372

)

41,780

Comparatives for movement in funds

Net

At

movement

At

1/10/23

in funds

30/9/24

£

Unrestricted funds

General fund

307,816

10,209

318,025

Restricted funds

Restricted Capital Funds

771,337

(31,237

)

740,100

TOTAL FUNDS

1,079,153

(21,028

)

1,058,125

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

61,732

(51,523

)

10,209

Restricted funds

Elderly Group

43,356

(43,356

)

-

Restricted Capital Funds

-

(31,237

)

(31,237

)

The Executive Office

51,023

(51,023

)

-

Belfast City Council

10,290

(10,290

)

-

STEP

16,680

(16,680

)

-

PHA - CAP

32,928

(32,928

)

-

PHA BME

24,387

(24,387

)

-

Help in Hand

7,608

(7,608

)

-

Ulster Scots

5,432

(5,432

)

-

STEP strong Together SE

1,500

(1,500

)

-

193,204

(224,441

)

(31,237

)

TOTAL FUNDS

254,936

(275,964

)

(21,028

)

13.	REGISTERED CHARGES

The Big Lottery Fund, the Department for Social Development (DSD) and The Executive Office (TEO), supplied grant funding towards the construction of new premises for the company at Stranmillis Embankment, Belfast. As such, they have registered charges on the property.

14.	RELATED PARTY DISCLOSURES

Included in Other Loans as at 31 March 2026, was an amount of £1,000 owing to trustees (2024: £15,500).

15.	COMPANY LIMITED BY GUARANTEE

The Company is limited by guarantee and has no share capital. In the event of a winding-up each member undertakes to contribute such an amount, as may be required for the payment of liabilities, not exceeding £1.

16.	GOING CONCERN

The Company meets its working capital requirements through the provision of funding from various sources, their own income generated monies, interest free loans some of which do not have agreed repayment terms, and an overdraft facility that is repayable on demand. The nature of the organisation is such that there can be fluctuations in continued funding sources and income generating monies.

The Trustees have projected cash flow information for the next 12 months and consider they will be able to operate within the current facility. However, the margin of facilities over requirements is small and inherently there can be no certainty in relation to these matters.

On this basis, the Trustees consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustment that would result should the Association fail to secure any of its funding or if the income generating activities do not meet expected levels.

17.	KEY MANAGEMENT PERSONNEL

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total consideration paid to key management personnel, including employers national insurance contribution, for services provided to the charity was £38,506 (2024: £28,504).