2023-04-05-accounts - St George And St Athanasious Coptic Orthodox Church

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 1024015

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 5 April 2023

for

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Botros & Co Chartered Accountants

4 Northwest Business Park Servia Hill Leeds West Yorkshire LS6 2QH

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Contents of the Financial Statements for the Year Ended 5 April 2023

----- Start of picture text -----
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
----- End of picture text -----

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Report of the Trustees for the Year Ended 5 April 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 5 April 2023. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01024015 (England and Wales)

Registered Charity number 1024015

Registered office

40 Kingston Drive Whitley Bay Tyne & Wear NE26 1JJ

Trustees

H G Bishop Antony Dr S Asaad Mr M Guirguis Mrs L Eskander Mr S Nashed Mr M Mikhail

Company Secretary Dr S Asaad

Independent Examiner

Botros & Co Chartered Accountants 4 Northwest Business Park Servia Hill Leeds West Yorkshire LS6 2QH

Bankers

Lloyds Bank plc 69 Bedford Street North Shields Tyne and Wear NE29 0AU

Committee

H G Bishop Antony Chairman 2.Dr Seif Asaad Secretary 3.Dr Magdy Eskander 4.Mr Stephen Abdulla 5.Miss Christin Henen 6.Dr Amir Michael Treasurer

Page 1

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Report of the Trustees for the Year Ended 5 April 2023

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. Charity secretary Dr S Asaad - Secretary

Page 2

Independent Examiner's Report to the Trustees of St. George and St. Athanasious Coptic Orthodox Church

Independent examiner's report to the trustees of St. George and St. Athanasious Coptic Orthodox Church ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its 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 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Samir Botros FCA,ACMA,CTA

Botros & Co Chartered Accountants 4 Northwest Business Park Servia Hill Leeds West Yorkshire LS6 2QH

Date: .............................................

Page 3

ST. GEORGE AND ST. ATHANASIOUS 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 Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	5.4.23 Unrestricted fund £ 106,590 141 106,731 125,181 329 125,510 (18,779) 1,554,233 1,535,454	5.4.22 Total funds £ 98,139 6 98,145 82,081 444 82,525 15,620 1,538,613
		1,554,233

The notes form part of these financial statements

Page 4

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Balance Sheet 5 April 2023

Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS	5.4.23 Unrestricted fund £ 1,366,023 30,000 139,431 169,431 169,431 1,535,454 1,535,454 1,535,454 1,535,454	5.4.22 Total funds £ 1,366,352 21,028 166,853 187,881 187,881 1,554,233 1,554,233
		1,554,233 1,554,233

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 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 charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. S Asaad - Trustee

The notes form part of these financial statements

Page 5

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Notes to the Financial Statements for the Year Ended 5 April 2023

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

----- Start of picture text -----
||| |---|---| |Plant and machinery|- 15% on reducing balance| |Fixtures and fittings|- 15% on reducing balance| |Motor vehicles|- 25% on reducing balance|

----- End of picture text -----

Taxation

The charity is exempt from corporation 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.

2. INVESTMENT INCOME

----- Start of picture text -----
|||| |---|---|---| |5.4.23|5.4.22| |£|£| |Deposit account interest|141|6|

----- End of picture text -----

continued...

Page 6

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

3. RAISING FUNDS

Investment management costs

Donations payable: Clergy living expenses Telephone Postage & stationery Motor & travelling Premises insurance Rates & water charges Professional fees NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets	5.4.23 £ 8,300 53,233 518 2,070 6,010 5,160 11,536 17,113 103,940 5.4.23 £ 329	5.4.22 £ 8,600 45,574 514 264 2,969 4,732 6,959 -
		69,612

		5.4.22 £ 419

4. NET INCOME/(EXPENDITURE)

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Other Total NET INCOME	Unrestricted fund £ 98,139 6 98,145 82,081 444 82,525 15,620

continued...

Page 7

ST. GEORGE AND ST. ATHANASIOUS 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

RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS Fixtures Freehold Plant and and property machinery fittings £ £ £ COST At 6 April 2022 and 5 April 2023 1,364,692 4,618 28,264 DEPRECIATION At 6 April 2022 - 4,564 27,469 Charge for year - 8 119 At 5 April 2023 - 4,572 27,588 NET BOOK VALUE At 5 April 2023 1,364,692 46 676 At 5 April 2022 1,364,692 54 795 8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Income tax recoverable Loan to Clergies 9. MOVEMENT IN FUNDS At 6.4.22 £ Unrestricted funds General fund 1,554,233 TOTAL FUNDS 1,554,233	Plant and machinery £ 4,618 4,564 8 4,572 46	Fixtures and fittings £ 28,264 27,469 119 27,588 676	Motor vehicles £ 26,202 25,391 202 25,593 609
1,364,692	54	795	811
			5.4.23 £ - 30,000 Net movement in funds £ (18,779) (18,779)

continued...

Page 8

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Notes to the Financial Statements - continued for the Year Ended 5 April 2023

9. MOVEMENT IN FUNDS - continued

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

Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 106,731 106,731 At 6.4.21 £ 1,538,613 1,538,613 follows: Incoming resources £ 98,145 98,145		Resources expended £ (125,510) (125,510) Net movement in funds £ 15,620 15,620 Resources expended £ (82,525) (82,525)		Movement in funds £ (18,779) (18,779) At 5.4.22 £ 1,554,233 1,554,233 Movement in funds £ 15,620 15,620

A current year 12 months and prior year 12 months combined position is as follows: Net movement At 6.4.21 in funds £ £ Unrestricted funds General fund 1,538,613 (3,159) TOTAL FUNDS 1,538,613 (3,159)	At 5.4.23 £ 1,535,454 1,535,454

continued...

Page 9

ST. GEORGE AND ST. ATHANASIOUS 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 net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 204,876 204,876	Resources Movement expended in funds £ £ (208,035) (3,159) (208,035) (3,159)

10. RELATED PARTY DISCLOSURES

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

Page 10

ST. GEORGE AND ST. ATHANASIOUS COPTIC ORTHODOX CHURCH

Detailed Statement of Financial Activities for the Year Ended 5 April 2023

INCOME AND ENDOWMENTS Donations and legacies Donations Sundry income	5.4.23 5.4.22 £ £ 105,110 76,834 1,480 21,305
Investment income Deposit account interest	106,590 98,139 141 6
Total incoming resources EXPENDITURE Raising donations and legacies Church water charges Church light and heat Church repairs & renewals	106,731 98,145 94 58 10,324 7,541 10,823 4,870
Investment management costs Donations payable: Clergy living expenses Telephone Postage & stationery Motor & travelling Premises insurance Rates & water charges Professional fees	21,241 12,469 8,300 8,600 53,233 45,574 518 514 2,070 264 6,010 2,969 5,160 4,732 11,536 6,959 17,113 -
Other Plant and machinery Fixtures and fittings Motor vehicles Bank charges	103,940 69,612 8 9 119 140 202 270 - 25
	329 444
Total resources expended	125,510 82,525
Net (expenditure)/income	(18,779) 15,620

This page does not form part of the statutory financial statements

Page 11