2023-04-05-accounts - St Mary And Abu Saifain Coptic Orthodox Church

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REGISTERED CHARITY NUMBER: 1008921

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

FOR

ST. MARY AND ABU SAIFAIN COPTIC
ORTHODOX CHURCH

TC SEM 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 2023`

		`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 2023`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April 2023.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

ThemainobjectiveofthecharityistoadvanceandpromotetheChristianFaithinaccordancewith the
teachingsandpracticesoftheCopticOrthodoxChurch.Whenplanningouractivitiesfortheyear, the
trusteeshaveconsideredtheCommission'sguidanceonpublicbenefitand,inparticular,the specific
guidanceoncharitiesfortheadvancementofreligion.Forthepurposeofattainingthe aforesaid
objectives, but not otherwise, the charity shall:

1.Maintainaplaceorplacesofpublicworshipforworshipandofficiatingsacramentsandforthe due
performanceoftheritesofbaptism,marriage,burialandotherceremoniesaccordingtotheprinciples of
the Coptic Orthodox Faith.

2. To provide and maintain the ministerial services of a priest including the provision of a residence.

3. To hold and otherwise promote religious meetings and conferences.

4. To provide assistance for the needy in the United Kingdom and abroad.

5. To provide spiritual, social and educational activities.

6.ToprovideforthereligiouseducationformembersoftheCopticOrthodoxcommunityinthe doctrine
and practices of the Coptic Orthodox Church.

7.Toprovidetheservicesofpersonstoperformsuchdutiesasmaybeconsiderednecessaryfromtime to
time for the proper administration of the Charity.

8.Toraisefundsbyappealingforandinvitingcontributionsbywayofdonations,covenants,grants, loans,
legacies and subscriptions.

9. To do such other things as shall further the Objectives of the Charity.

`Achievements and performance`

Thecontinuedrunningandsupportofthechurch'sactivities.Duringtheyeartheprogrammeof restoration
andimprovementhascontinuedonthechurchwhichisaGradeIIlistedbuilding.Thechurchislistedfor its
wellpreservedarchitecturalinterests,itsunusualslenderarcadesandespeciallyforitsfine decorative
frontage.

`FINANCIAL REVIEW`

Inundertakingthemaintenance,restorationandimprovementofthechurchthecharityexpended £26,618
(2022: £2,415) on fixtures, fittings and equipment  and £8,040 (2022: £14,896) on repairs and maintenance.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,itsconstitution,adopted16February1992and as
amended on 22 June 2008 and constitutes an unincorporated charity.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

Page 1

`ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023`

`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`

TC SEM Limited
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

Approved by order of the board of trustees on 23 August 2023 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`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofSt.MaryandAbuSaifain Coptic
Orthodox Church (the Trust) for the year ended 5 April 2023.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

R J BuckbyFCA

TC SEM Limited
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

23 August 2023

Page 3

`ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH`

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023`

`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`	`2023` `Unrestricted` `fund` `£` `94,223` `635` `94,858` `76,212` `18,646` `1,045,689` `1,064,335`	`2022` `Total` `funds` `£` `81,730` `16` `81,746` `93,575` `(11,829)` `1,057,518` `1,045,689`

The notes form part of these financial statements

Page 4

`ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH`

`BALANCE SHEET 5 APRIL 2023`

`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`	`2023` `Unrestricted` `fund` `£` `768,099` `297,976` `(1,740)` `296,236` `1,064,335` `1,064,335` `1,064,335` `1,064,335`	`2022` `Total` `funds` `£` `749,762` `297,481` `(1,554)` `295,927` `1,045,689` `1,045,689` `1,045,689` `1,045,689`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
23 August 2023 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 2023`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011.The financial
statements have been prepared under the historical cost convention.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured
reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.

Furniture for Paxton Walk- Straight line over 10 years
Fixtures, fittings & equipment- Straight line over 10 years

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of
the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe 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 2023`

`2. INVESTMENT INCOME`

`3.`

	`2023`	`2022`
	`£`	`£`
`Deposit account interest`	`635`	`16`
`RAISING FUNDS`
`Raising donations and legacies`
	`2023`	`2022`
	`£`	`£`
`Support costs`	`76,212`	`93,575`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2023norfor the
year ended 5 April 2022.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended5April2023norfortheyear ended
5 April 2022.

`5. STAFF COSTS`

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

	`2023`	`2022`
`Priests`	`1`	`2`

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

`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`
	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`81,730`
`Investment income`	`16`
`Total`	`81,746`
`EXPENDITURE ON`
`Raising funds`	`93,575`
`NET INCOME/(EXPENDITURE)`	`(11,829)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`1,057,518`

continued...

Page 7

ST. MARY AND ABU SAIFAIN COPTIC
ORTHODOX CHURCH

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023`

`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`

`TOTAL FUNDS CARRIED FORWARD`

Unrestricted
fund
£
1,045,689

`7. TANGIBLE FIXED ASSETS`

`COST` `At 6 April 2022` `Additions` `At 5 April 2023` `DEPRECIATION` `At 6 April 2022` `Charge for year` `At 5 April 2023` `NET BOOK VALUE` `At 5 April 2023` `At 5 April 2022` `Building` `improvements` `£` `COST` `At 6 April 2022` `443,055` `Additions` `26,618` `At 5 April 2023` `469,673` `DEPRECIATION` `At 6 April 2022` `-` `Charge for year` `-` `At 5 April 2023` `-` `NET BOOK VALUE` `At 5 April 2023` `469,673` `At 5 April 2022` `443,055`	`Church` `building` `£` `131,500` `-` `131,500` `-` `-` `-` `131,500` `131,500` `Furniture` `for` `Paxton` `Walk` `&` `£` `3,563` `-` `3,563` `356` `321` `677` `2,886` `3,207`	`Land -` `cemetary` `plot` `£` `3,615` `-` `3,615` `-` `-` `-` `3,615` `3,615` `Fixtures,` `fittings` `equipment` `£` `88,462` `-` `88,462` `8,846` `7,960` `16,806` `71,656` `79,616`	`Freehold` `property` `£` `88,769` `-` `88,769` `-` `-` `-` `88,769` `88,769` `Totals` `£` `758,964` `26,618` `785,582` `9,202` `8,281` `17,483` `768,099` `749,762`

continued...

Page 8

`ST. MARY AND ABU SAIFAIN COPTIC`

`ORTHODOX CHURCH`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023`

`8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Taxation and social security` `MOVEMENT IN FUNDS` `At 6.4.22` `£` `Unrestricted funds` `General fund` `1,045,689` `TOTAL FUNDS` `1,045,689` `Net movement in funds, included in the above are as follows:` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `94,858` `TOTAL FUNDS` `94,858`	`2023` `£` `1,740` `Net` `movement` `in funds` `£` `18,646` `18,646` `Resources` `expended` `£` `(76,212)` `(76,212)`	`2022` `£` `1,554` `At` `5.4.23` `£` `1,064,335` `1,064,335` `Movement` `in funds` `£` `18,646` `18,646`

`9. MOVEMENT IN FUNDS`

`Comparatives for movement in funds`

`At 6.4.21` `£` `Unrestricted funds` `General fund` `1,057,518` `TOTAL FUNDS` `1,057,518` `Comparative net movement in funds, included in the above are as follows:` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `81,746` `TOTAL FUNDS` `81,746`	`Net` `movement` `in funds` `£` `(11,829)` `(11,829)` `Resources` `expended` `£` `(93,575)` `(93,575)`	`At` `5.4.22` `£` `1,045,689` `1,045,689` `Movement` `in funds` `£` `(11,829)` `(11,829)`

continued...

Page 9

`ST. MARY AND ABU SAIFAIN COPTIC ORTHODOX CHURCH`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023`

`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 6.4.21` `£` `1,057,518` `1,057,518`	`Net` `movement` `in funds` `£` `6,817` `6,817`	`At` `5.4.23` `£` `1,064,335`
			`1,064,335`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`176,604`	`(169,787)`	`6,817`
`TOTAL FUNDS`	`176,604`	`(169,787)`	`6,817`

`10. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 5 April 2023.

Page 10

`ST. MARY AND ABU SAIFAIN COPTIC`

`ORTHODOX CHURCH`

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023`

	`2023`	`2022`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Donations & subscriptions`	`80,412`	`68,374`
`Gift aid`	`13,811`	`13,356`
	`94,223`	`81,730`
`Investment income`
`Deposit account interest`	`635`	`16`
`Total incoming resources`	`94,858`	`81,746`
`EXPENDITURE`
`Support costs`
`Management`
`Wages`	`31,179`	`34,875`
`Rates and water`	`3,859`	`3,758`
`Insurance`	`4,123`	`3,833`
`Light and heat`	`8,269`	`4,000`
`Telephone & internet`	`539`	`858`
`Sundries`	`719`	`309`
`Diocese of London contribution`	`4,874`	`5,502`
`Repairs & renewals`	`8,040`	`14,896`
`Accountancy`	`1,522`	`1,416`
`Legal & professional`	`-`	`4,785`
`Travel flights expenses`	`3,807`	`4,548`
`Funeral expenses`	`-`	`5,593`
`Donation to Monastery`	`1,000`	`-`
	`67,931`	`84,373`
`Finance`
`Fixtures and fittings`	`8,281`	`9,202`
`Total resources expended`	`76,212`	`93,575`
`Net income/(expenditure)`	`18,646`	`(11,829)`

This page does not form part of the statutory financial statements

Page 11