##
|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|4|
|Report ofthe Independent
Auditors|5|to|6|
|Statement ofFinancial Activities||||
|Statement ofFinancial Position||||
|Statement ofCash Flows||||
|Notes to the Statement ofCash Flows||10||
|Notes to the Financial Statements|11|to|19|
|Detailed Statement ofFinancial Activities|20|to|21|
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||FOR THE|YEAR EN|DED 31 DECE|MBER 2021|||
|---|---|---|---|---|---|---|
||||||31.12.21|31.12.20|
||||Unrestricted|Restricted|Total|Total|
|||Notes|fundsf|funds
f|funds
f|fundsf|
|INCOME AND ENDOWMENTS
Donations
and legacies|FRONI||434,593|168,166|602,759|1,139,832|
|Investment
income
Other income|||25,003
88,647||25,003
88,647|24,782
159,371|
|Total|||548,243|168,166|716,409|1,323,985|
|EXPENDITURE ON
Raising funds|||6,092||6,092|12,527|
|Charitable
activities
Church Expenses|||216,164||216,164|247,792|
|Donations|||90,718|186,889|277,164|101,144|
|City Mission
Diocese ofLondon expenses|||2,056
94,439||2,056
94,439|12,822
51,346|
|Convent Expenses
Refcemi expenses
Youth Expenses|||32,549
200
1,927|16,049|32,549
16,249
1,927|7,628
20,000|
|Freedom of Religion and Belief|project|||10,500|10,500||
|Contdbution
to the Youth Fund
Orthodox Diocese of London|ofthe Coptic||36,181||36,181||
|Other||||||5,339|
|Total|||480,326|213,438|693,764|458,598|
|NET INCOME/(EXPENDITURE)|||67,917|(45,272)|22,645|865,387|
|Transfers
between funds||18|20,000|~20,000)|||
|Net movement
in funds|||87,917|(65,272)|22,645|865,387|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||4,052,822||4,052,822|3,187,435|
|TOTAL FUNDS CARRIED FORWARD|||4,140,739|~65,272)|4,075,467|4,052,822|
##
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|||||31.12.21|31.12.20|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
||Notes|funds
f|funds
f.|funds
f|funds|
|FIXEDASSETS
Tangible assets
Investment
properly|11
12|4,199,441
411,011||4,199,441
411,011|4,182,815
411,011|
|||4,610,452||4,610,452|4,593,826|
|CURRENT ASSETS||||||
|Debtors
Cash at bank and in hand|13|73,597
718,423||73,597
718,423|109,487
904,513|
|||792,020||792,020|1,014,000|
|CREDITORS||||||
|Amounts
falling due within one year|14|(115,885)|(65,272)|(181,157)|(159,306)|
|NET CURRENT ASSETS/(LIABILITIES)||676,|~65,2 2)|010,063|85,604|
|TOTAL ASSETSLESSCURRENT LIABILITIES||5,286,587|(65,272)|5,221,315|5,448,520|
|CREDITORS||||||
|Amounts
falling due after more than one year|15|(1,145,848)||(1,145,848)|(1,389,448)|
|ACCRUALS AND DEFERRED INCOME|17||||(6,250)|
|NET ASSETS||140739
,|~652 2)|7407567,052.822||
|FUNDS|18|||||
|Unrestricted
funds
Restricted funds||||4,140,739
~65,212)|4,052,822|
|TOTAL FUNDS||||4,075,467|4,052,822|
##
||THE|COPTIC ORTHODO|X CHURCH CENTRE||
|---|---|---|---|---|
|||STATENIENT OF|CASH FLOWS||
||FOR|THE YEAR ENDED 31 DECEMBER 2021|||
||||31.12.21|31.12.20|
|||Notes|6||
|Cash flows from operating
activities
Cash generated
from operations
Interest paid|||101,343
~27,521 )|984,323
~29,700)|
|Net cash provided
by operating
activities|||73,822|954,623|
|Cash flows from investing
activities
Purchase of tangible fixed assets
Interest received|||(38,502)
3|(922,282)
32|
|Net cash used in investing
activities|||~38,499)|(922,250)|
|Cash flows from financing
New loans in year
Loan repayments
in year|activities||(287,228855)|250,000
~10,125)|
|Net cash (used in)/provided|by financing|activities|(287,285)|239,875|
|Change
in cash and cash
the reporting
period|equivalents|in|(251,962)|272,248|
|Cash and cash equivalents
beginning
ofthe reporting|at the
period||904,513|632,265|
|Cash and cash equivalents
the reporting
period|at the end|of|652,551|904,513|
##
|||||NOTES TO THE S
FOR THE YEAR|NOTES TO THE S
FOR THE YEAR|TATEMENT OF CASH FLOWS
ENDED 31 DECEMBER 2021|TATEMENT OF CASH FLOWS
ENDED 31 DECEMBER 2021|||
|---|---|---|---|---|---|---|---|---|---|
||RECONCILIATION|OF||NET INCOME TO NET||CASH FLOW FRONI OPERATING||ACTIVITIES||
|||||||||3'l.12.21
f|31.12.20
F|
||Net income for the||reporting||period (as per the Statement ofFinancial|||||
||Activities)|||||||22,645|865,387|
||Adjustments
for:|||||||||
||Depreciation
charges|||||||21,876|14,660|
||Interest received|||||||(3)|(32)|
||Interest paid|||||||27,521|29,700|
||Decrease
in debtors
(Decrease)/increase||in|creditors||||35,890
~6,586)|42,864
31,744|
||Net cash provided|by||operations||||101,343|984,323|
||ANALYSIS OF CASH AND CASH EQUIVALENTS|||||||||
|||||||||31.12.21|31.12.20
f|
||Cash
in hand|||||||447|229|
||Notice deposits (less||than 3 months)|||||717,976|904,284|
||Overdrafts
included|in bank loans and overdrafts||||falling due|within one year|~65,872)||
||Total cash and cash||equivalents|||||652,551|904,513|
|3.|ANALYSIS OF CHANGES
IN NET DEBT|||||||||
||||||||At 1.1.21|Cash flow
6|At 31.12.21
f|
||Net cash|||||||||
||Cash at bank and|in|hand||||904,513|(186,090)|718,423|
||Bank overdrafts|||||||~65,872)|~65,872)|
||||||||904,513|(251,996622)|652,551|
||Debt|||||||||
||Debts falling due within|||1 year|||(106,000)|43,685|(62,315)|
||Debts falling due after 1 year||||||(1,389,448)|243,600|(1,145,848)|
||||||||(1,495,448)|287,285|(1,208,163)|
||Total||||||(590,935)|35,323|~555,612)|
##
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||FOR THE YEAR ENDED 31 DECEMB|FOR THE YEAR ENDED 31 DECEMB|FOR THE YEAR ENDED 31 DECEMB|FOR THE YEAR ENDED 31 DECEMB|ER 2021||
|---|---|---|---|---|---|---|
||DONATIONS
AND LEGACIES||||||
||||||31.12.21
8|31.12.20
f|
||Donations||||361,389|1,013,886|
||Gift aid||||73,204|110,001|
||Grants||||168,166|15,945|
||||||602,759|1,139,832|
||Grants received,|included||in the above, are as follows:|||
||||||31.12.21|31.12.20|
|||||||6|
||Institute of Development
Other grants|||Studies|168,166|15,945|
||||||168,166|15,945|
|3.|INVESTMENT INCOME||||||
||||||31.12.21|31.12.20|
||Rents receivable||||25,000|24,750|
||Deposit account|interest|||3|32|
||||||25,003|24,782|
|4.|RAISING FUNDS||||||
||RAISING DONATIONS||AND LEGACIES||||
||||||31.12.21|31.12.20|
||||||6||
||Telephone
&Internet||||3,849|7,014|
||Postage and stationery
Sundries||||476
1,767|757
4,756|
||||||6,092|12,527|
##
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##
##
|CHARITABLE ACTIVITIES COSTS||||||
|---|---|---|---|---|---|
|||Grant||||
|||funding|of|||
|||activities||Support||
||Direct|(see note||costs (see||
||Costs
f|6)f||note 7)
f|Totals
f|
|Church Expenses|199,879|||16,285|216,164|
|Donations|264|277,343|||277,607|
|City Mission
Diocese of London expenses|2,056
94,439||||2,056
94,439|
|Convent Expenses|32,549||||32,549|
|Refcemi expenses
Youth Expenses|16,249
1,927||||16,249
1,927|
|Freedom of Religion and Belief project|10,500||||10,500|
|Contribution
to the Youth Fund ofthe||||||
|Coptic Orthodox Diocese ofLondon|36,181||||36,181|
||394,044|277,343||16,285|687,672|
|GRANTS PAYABLE||||||
|||||31.12.21
f|31.12.20
f|
|Donations||||||
|||||277,343|101,144|
##
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##
##
##
|STAFFCOSTS||||||
|---|---|---|---|---|---|
|||||31.12.21|31.12.20
f|
|Wages and salaries
Social security costs
Other pension costs||||106,191
5,527
1,141|81,187
2,883
751|
|||||112,859|84,821|
|The average
monthly|number ofemployees|during|the year was as follows:|||
|||||31.12.21|31.12.20|
|Caretaker||||1|1|
|Media||||1||
|Priest||||1||
|Secretarial||||1||
##
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||fundsf|funds|funds|
|INCOME AND ENDOWMENTS||FROM||||
|Donations
and legacies|||1,139,832||1,139,832|
|Investment
income|||24,782||24,782|
|Other income|||159,371||159,371|
|Total|||1,323,985||1,323,985|
|EXPENDITURE ON||||||
|Raising funds|||12,527||12,527|
|Charitable
activities||||||
|Church Expenses|||247,792||247,792|
|Donations||||||
||||101,144||101,144|
|City Mission
Diocese ofLondon|expenses||12,822
51,346||12,822
51,346|
|Convent Expenses||||||
||||7,628||7,628|
|Refcemi expenses|||20,000||20,000|
|Other|||5,339||5,339|
|Total|||458,598||458,598|
|NET INCOME|||865,387||865,387|
|RECONCILIATION|OF' FUNDS|||||
|Total funds brought forward|||3,187,435||3,187,435|
|TOTAL FUNDS CARRIED FORWARD|||4,052,822||4,052,822|
##
##
##
|11.|TANGIBLE FIXEDASS|ETS||||
|---|---|---|---|---|---|
||||Fixtures|||
|||Freehold|and|Motor||
|||property
5|fittings
f|vehicles|Totals
6|
||COST|||||
||At 1 January 2021|4,100,193|215,103|9,300|4,324,596|
||Additions||1,937|36,565|38,502|
||At 31 December 2021|4,100,193|217,040|45,865|4,363,098|
||DEPRECIATION|||||
||At 1 January 2021||132,992|8,789|141,781|
||Charge for year||12,607|9,269|21,876|
||At 31 December 2021||145,599|18,058|163,657|
||NET BOOK VALUE|||||
||At 31 December 2021|4,100,193|71,441|27,807|4,199,441|
||At 31 December 2020|4,100,193|82,111|511|4,182,815|
|12.|INVESTMENT PROPERTY|||||
||FAIR VALUE|||||
||At 1 January 2021|||||
||and 31 December 2021||||411,011|
||NET BOOK VALUE|||||
||At 31 December 2021||||411,011|
||At 31 December 2020||||411,011|
|13.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR||||
|||||31.12.21|31.12.20|
||||||6|
||Other debtors|||73,597|109,487|
|14.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|||||31.12.21|31.12.20|
||Bank loans and overdrafts (see note 16)|||128,187|106,000|
||Trade creditors|||32,917|37,733|
||Taxation and social secudiy|||3,723|5,794|
||Other creditors|||16,330|9,779|
|||||181,157|159,306|
##
||||FOR THE YEAR EN|DED 31 DE|CEMBER 2021|||
|---|---|---|---|---|---|---|---|
|15.|CREDITORS: AMOUNTS||FALLING DUE AFTER|MORE THAN|ONE YEAR|31.12.21
f|31.12.20|
||Bank loans (see note 16)|||||1,145,848|1,389,448|
|16.|LOANS|||||||
||An analysis ofthe maturity||ofloans is given below:|||||
|||||||31.12.21
F|31.12.20
f|
||Amounts
falling due within
Bank overdrafts
RBSLand Loan||one year on demand:|||65,872
62,315|56,000|
||CBILBank Loan BS||||||50,000|
|||||||128,187|106,000|
||Amounts
falling between
Bank loans - 1-2years|one and two years:||||62,000|106,000|
||Amounts
falling due between two and five years:
Bank loans
—2-5 years|||||168,000|318,000|
||Amounts
falling due in more than five years:|||||||
||Repayable
by instalments:
Bank loans more 5yr by|instal||||915,848|965,448|
|17.|ACCRUALS AND DEFERRED INCOME|||||31.12.21
F|31.12.20
f|
||Accruals and deferred
income||||||6,250|
|18.|MOVEMENT
IN FUNDS|||||||
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.1.21|in funds
F|funds
F|31.12.21
f|
||Unrestricted
funds
General
fund|||2,625,638|61,178|290,121|2,976,937|
||St Mark 8 Pope Tawadros
Youth Fund
Benevolent
Fund
London Diocesan Fund||Fund|(193,756)
60,228
65,263
1,495,449|13,456
(23,321)
26,355
~9,751)|(18,830)
272
~251,563)|(199,130)
37,179
91,618
1,234,135|
|||||4,052,822|67,917|20,000|4,140,739|
||Restricted funds|||||||
||Refcemi projects Institute
Studies||of Development||(45,272)|(20,000)|(65,272)|
||TOTAL FUNDS|||4,052,822|22,645||4,075,467|
##
##
##
|Net movement
in funds, in|duce|d
in t|he above|are as follows:||||
|---|---|---|---|---|---|---|---|
||||||Incoming|Resources|Movement|
||||||resources
f|expended
f.|in funds
f|
|Unrestricted
funds||||||||
|General
fund|||||292,869|(231,691)|61,178|
|St Mark &Pope Tawadros
Youth Fund
Benevolent
Fund
London Diocesan Fund|Fund||||701
29,285
107,619
117,769|12,755
(52,606)
(81,264)
(127,520)|13,456
(23,321)
26,355
~9,751)|
||||||548,243|(480,326)|67,917|
|Restricted funds||||||||
|Refcemi projects Institute of Development
Studies|||||168,166|(213,438)|(45,272)|
|TOTAL FUNDS|||||716,409|(693,764)|22,645|
|Comparatives
for movement||in funds||||||
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.1.20
f.|in funds
f.|funds
f|31.12.20
f|
|Unrestricted
funds||||||||
|General
fund||||2,670,604|27,988|(72,954)|2,625,638|
|St Mark &Pope Tawadros
Youth Fund|Fund|||42,419
53,032|(10,005)
12,912|(226,170)
(5,716)|(193,756)
60,228|
|Benevolent
Fund
London Diocesan Fund||||69,461
351,919|(6,198)
840,690|2,000
302,840|65,263
1,495,449|
|||||3,187,435|865,387||4,052,822|
|TOTAL FUNDS||||3,187,435|865,387||4,052,822|
|Comparative
net movement|in|funds,|included|in the above are as|follows:|||
||||||Incoming|Resources|Movement|
||||||resources
f|expended
f|in funds
f|
|Unrestricted
funds||||||||
|General
fund|||||244,995|(217,007)|27,988|
|St Mark &Pope Tawadros
Youth Fund|Fund||||3,624
30,418|(13,629)
(17,506)|(10,005)
12,912|
|Benevolent
Fund
London Diocesan Fund|||||85,194
959,754|(91,392)
~119,064)|(6,198)
840,690|
||||||1,323,985|458,598|865,387|
|TOTAL FUNDS|||||1,323,985|~458,598)|865,387|
##
##
##
|A current|year 12months|and prior year 12mo|nths
combined
positi|on is as follows:|||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.20
f|in funds
f|funds
f|31.12.21|
|Unrestricted
funds|||||||
|General|fund||2,670,604|89,166|217,167|2,976,937|
|StMark &Pope Tawadros
Youth Fund
Benevolent
Fund||Fund|42,419
53,032
69,461|3,451
(10,409)
20,157|(245,000)
(5,444)
2,000|(199,130)
37,179
91,618|
|London|Diocesan Fund||351,919|830,939|51,277|1,234,135|
||||3,187,435|933,304|20,000|4,140,739|
|Restricted funds|||||||
|Refcemi
Studies|projects Institute|of Development||(45,272)|(20,000)|(65,272)|
|TOTAL|FUNDS||3,187,435|888,032||4,075,467|
|A current year 12 months
follows:|and prior year 12 months
co|mbined
net movement
in fu|nds,
included
in th|e above are|
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources
f|expended
f|in funds
f|
|Unrestricted
funds|||||
|General fund||537,864|(448,698)|89,166|
|St Mark &Pope Tawadros
Youth Fund|Fund|4,325
59,703|(874)
(70,112)|3,451
(10,409)|
|Benevolent
Fund
London Diocesan Fund||192,813
1,077,523|(172,656)
L246, 558844)|20,157
830,939|
|||1,872,228|(938,924)|933,304|
|Restricted funds|||||
|Refcemi projects Institute
Studies|of Development|168,166|(213,438)|(45,272)|
|TOTAL FUNDS||2,040,394|(1,152,362)|888,032|
##
##
##