REGISTERED CHARITY NUMBER: 1008921
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FOR
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
Fortus Midlands Limited 31 High View Close Hamilton Office Park Leicester Leicestershire LE4 9LJ
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 5 April 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
REPORT OF THE TRUSTEES For The Year Ended 5 April 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the charity is to advance and promote the Christian Faith in accordance with the teachings and practices of the Coptic Orthodox Church. When planning our activities for the year, the trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. For the purpose of attaining the aforesaid objectives, but not otherwise, the charity shall:
-
Maintain a place or places of public worship for worship and officiating sacraments and for the due performance of the rites of baptism, marriage, burial and other ceremonies according to the principles of the Coptic Orthodox Faith.
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To provide and maintain the ministerial services of a priest including the provision of a residence.
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To hold and otherwise promote religious meetings and conferences.
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To provide assistance for the needy in the United Kingdom and abroad.
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To provide spiritual, social and educational activities.
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To provide for the religious education for members of the Coptic Orthodox community in the doctrine and practices of the Coptic Orthodox Church.
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To provide the services of persons to perform such duties as may be considered necessary from time to time for the proper administration of the Charity.
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To raise funds by appealing for and inviting contributions by way of donations, covenants, grants, loans, legacies and subscriptions.
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To do such other things as shall further the Objectives of the Charity.
Achievements and performance
The continued running and support of the church's activities. During the year the programme of restoration and improvement has continued on the church which is a Grade II listed building. The church is listed for its well preserved architectural interests, its unusual slender arcades and especially for its fine decorative frontage.
FINANCIAL REVIEW
In undertaking the maintenance, restoration and improvement of the church the charity expended £2,415 (2021: £nil) on fixtures, fittings and equipment and £14,896 (2021: £11,147) on repairs and maintenance.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its constitution, adopted 16 February 1992 and as amended on 22 June 2008 and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1008921
Page 1
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
REPORT OF THE TRUSTEES For The Year Ended 5 April 2022
Principal address
23 Llantarnam Drive Radyr Cardiff CF15 8GA
Trustees
Dr M Shafik Dr S Bishara Mr G Yagoub Mr S Hanna Dr N N Naeem Dr M F Farag
Independent Examiner
Fortus Midlands Limited 31 High View Close Hamilton Office Park Leicester Leicestershire LE4 9LJ
Approved by order of the board of trustees on 9 August 2022 and signed on its behalf by:
Dr M Shafik - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
Independent examiner's report to the trustees of St. Mary and Abu Saifain Coptic Orthodox Church
I report to the charity trustees on my examination of the accounts of St. Mary and Abu Saifain Coptic Orthodox Church (the Trust) for the year ended 5 April 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R J Buckby FCA Fortus Midlands Limited 31 High View Close Hamilton Office Park Leicester Leicestershire LE4 9LJ
9 August 2022
Page 3
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 5 April 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted fund £ 81,730 16 81,746 93,575 (11,829) 1,057,518 1,045,689 |
2021 Total funds £ 98,303 63 |
|---|---|---|
| 98,366 51,515 |
||
| 46,851 1,010,667 |
||
| 1,057,518 |
The notes form part of these financial statements
Page 4
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
BALANCE SHEET 5 April 2022
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted fund £ 749,762 297,481 (1,554) 295,927 1,045,689 1,045,689 1,045,689 1,045,689 |
2021 Total funds £ 756,549 300,969 - |
|---|---|---|
| 300,969 | ||
| 1,057,518 | ||
| 1,057,518 | ||
| 1,057,518 | ||
| 1,057,518 |
The financial statements were approved by the Board of Trustees and authorised for issue on 9 August 2022 and were signed on its behalf by:
Dr M Shafik - Trustee
The notes form part of these financial statements
Page 5
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 5 April 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture for Paxton Walk Fixtures, fittings & equipment
- Straight line over 10 years - Straight line over 10 years
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 6
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 5 April 2022
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Deposit account interest | 16 | 63 |
| RAISING FUNDS | ||
| Raising donations and legacies | ||
| 2022 | 2021 | |
| £ | £ | |
| Support costs | 93,575 | 51,515 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Priests No employees received emoluments in excess of £60,000. |
2022 2 |
2021 2 |
|---|---|---|
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 98,303 |
| Investment income | 63 |
| Total | 98,366 |
| EXPENDITURE ON | |
| Raising funds | 51,515 |
| NET INCOME | 46,851 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 1,010,667 |
continued...
Page 7
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 5 April 2022
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
TOTAL FUNDS CARRIED FORWARD
Unrestricted fund £ 1,057,518
7. TANGIBLE FIXED ASSETS
| COST At 6 April 2021 Additions At 5 April 2022 DEPRECIATION Charge for year NET BOOK VALUE At 5 April 2022 At 5 April 2021 Building improvements £ COST At 6 April 2021 443,055 Additions - At 5 April 2022 443,055 DEPRECIATION Charge for year - NET BOOK VALUE At 5 April 2022 443,055 At 5 April 2021 443,055 |
Church building £ 131,500 - 131,500 - 131,500 131,500 Furniture for Paxton Walk & £ 3,563 - 3,563 356 3,207 3,563 |
Land - cemetary plot £ 3,615 - 3,615 - 3,615 3,615 Fixtures, fittings equipment £ 86,047 2,415 88,462 8,846 79,616 86,047 |
Freehold property £ 88,769 - 88,769 - 88,769 88,769 Totals £ 756,549 2,415 758,964 9,202 749,762 756,549 |
|---|---|---|---|
continued...
Page 8
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 5 April 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Taxation and social security MOVEMENT IN FUNDS At 6.4.21 £ Unrestricted funds General fund 1,057,518 TOTAL FUNDS 1,057,518 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 81,746 TOTAL FUNDS 81,746 Comparatives for movement in funds At 6.4.20 £ Unrestricted funds General fund 1,010,667 TOTAL FUNDS 1,010,667 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 98,366 TOTAL FUNDS 98,366 |
2022 £ 1,554 Net movement in funds £ (11,829) (11,829) Resources expended £ (93,575) (93,575) Net movement in funds £ 46,851 46,851 Resources expended £ (51,515) (51,515) |
2021 £ - At 5.4.22 £ 1,045,689 1,045,689 Movement in funds £ (11,829) (11,829) At 5.4.21 £ 1,057,518 1,057,518 Movement in funds £ 46,851 46,851 |
|---|---|---|
9. MOVEMENT IN FUNDS
continued...
Page 9
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 5 April 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.20 £ 1,010,667 1,010,667 |
Net movement in funds £ 35,022 35,022 |
At 5.4.22 £ 1,045,689 |
|---|---|---|---|
| 1,045,689 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 180,112 | (145,090) | 35,022 |
| TOTAL FUNDS | 180,112 | (145,090) | 35,022 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2022.
Page 10
ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 5 April 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations & subscriptions | 68,374 | 77,432 |
| Gift aid | 13,356 | 16,020 |
| Job retention scheme | - | 4,851 |
| 81,730 | 98,303 | |
| Investment income | ||
| Deposit account interest | 16 | 63 |
| Total incoming resources | 81,746 | 98,366 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Wages | 34,875 | 15,750 |
| Rates and water | 3,758 | 2,520 |
| Insurance | 3,833 | 3,623 |
| Light and heat | 4,000 | 3,848 |
| Telephone & internet | 858 | 646 |
| Sundries | 309 | 193 |
| Travelling | - | 1,820 |
| Health & Safety | - | 1,584 |
| Diocese of London contribution | 5,502 | 6,300 |
| Donations | - | 2,500 |
| Repairs & renewals | 14,896 | 11,147 |
| Accountancy | 1,416 | 1,584 |
| Legal & professional | 4,785 | - |
| Travel flights expenses | 4,548 | - |
| Funeral expenses | 5,593 | - |
| 84,373 | 51,515 | |
| Finance | ||
| Fixtures and fittings | 9,202 | - |
| Total resources expended | 93,575 | 51,515 |
| Net (expenditure)/income | (11,829) | 46,851 |
This page does not form part of the statutory financial statements
Page 11