2022-12-31-accounts - The Coptic Orthodox Church Centre

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		Page
Report ofthe Trustees		to	4
Report ofthe Independent Auditors	5	to	6
Statement of Financial Activities
Statement of Financial Position
Statement ofCash Flows
Notes to the Statement ofCash Flows		10
Notes to the Financial Statements	11	to	18
Detailed Statement ofFinancial Activities	19	to	20

						31.12.22	31.12.21
				Unrestricted	Restricted	Total	Total
			Notes	funds 5	funds	funds	fundsf
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	423,945	65,272	489,217	602,759
Investment income			3	25,050		25,050	25,003
Other income				45,039		45,039	88,647
Total				494,034	65,272	559,306	716,409
EXPENDITURE ON
Raising funds				7,629		7,629	6,092
Charitable activities
Church Expenses				313,520		313,520	216,164
Donations				165,900		165,900	277,607
City Mission
				1,136		1,136	2,056
Diocese of London expenses				92,014		92,014	94,439
Convent expenses				23,907		23,907	32,549
Refcemi expenses							16,249
Youth expenses				2,879		2,879	1,927
Freedom of religion	and belief project						10,500
Contribution to The	Coptic Orthodox Diocese of
London				19,049		19,049	36,181
Total				626,034		626,034	693,764
NET INCOME/(EXPENDITURE)				(132,000)	65,272	(66,728)	22,645
RECONCILIATION	OF FUNDS
Total funds brought	forward			4,140,739	(65,272)	4,075,467	4,052,822
TOTAL FUNDS CARRIED FORWARD				4,008,739		4,008,739	4,075,467

					31 12.22	31.12.21
			Unrestricted	Restricted	Total	Total
		Notes	funds f	funds f	fundsf	fundsf
FIXEDASSETS
Tangible assets		11	4,223,405		4,223,405	4,199,441
Investment property		12	411,011		411,011	411,011
			4,634,416		4,634,416	4,610,452
CURRENT ASSETS
Debtors		13	256,585	65,272	321,857	73,597
Cash at bank and	in hand		333,922		333,922	718,423
			590,507	65,272	655,779	792,020
CREDITORS
Amounts falling due withm one year		14	(92,462)	(65,272)	(157,734)	(181,157)
NET CURRENT ASSETS			498,045		498,045	610,863
TOTAL ASSETS	LESSCURRENT LIABILITIES		5,132,461		5,132,461	5,221,315
CREDITORS
Amounts falling due after more than one year		15	(1,123,722)		(1,123,722)	(1,145,848)
NET ASSETS			4,008,739		4,008,739	4,075,467
FUNDS
Unrestricted funds					4,008,739	4,140,739
Restricted funds						(65,272)
TOTAL FUNDS					4,008,739	4,075,467

		FO	R THE YEAR ENDED	31 DECEMBER 2922
				31.12.22	31.12.21
			Notes
Cash flows from operating		activities
Cash generated from operations				(265,762)	101,343
Interest paid				(57,807)	(27,521)
Net cash (used in)/provided		by operating	activities	(323,569)	73,822
Cash fiows from investing		activities
Purchase oftangible fixed assets				(48,977)	(38,502)
Interest received				50	3
Nst cash used in investing	activities			(48,927)	(38,499)
Cash flows from financing		activities
Loan repayments in year				(11,411)	(287,285)
Net cash used in financing	activities			(11,411)	(287,285)
Change in cash and cash		equivalents	in
the reporting period				(383,907)	(251,962)
Cash and cash equivalents		at the
beginning ofthe reporting		period	2	652,551	904,513
Cash and cash equivalents		at the end	of
the reporting period			2	268,644	652,551

NOTES T THE STATEME FOR THE YEAR ENDED	NOTES T THE STATEME FOR THE YEAR ENDED	NOTES T THE STATEME FOR THE YEAR ENDED	NOTES T THE STATEME FOR THE YEAR ENDED	NOTES T THE STATEME FOR THE YEAR ENDED	NOTES T THE STATEME FOR THE YEAR ENDED	NT OF CASH FLOWS 31 DECEMBER 2022
RECONCILIATION OF NET (EXPENDITURE)/INCOME						TO NET CASH FLOW	FROM OPERATING	ACTIVITIES
							31.12.22	31.12.21
							8	F
Net (expenditure)/income		forthe reporting		period (as per the Statement
of Financial Activities)							(66,728)	22,645
Adjustments for:
Depreciation charges							25,013	21,876
Interest received							(50)	(3)
Interest pard							57,807	27,521
(Increase)/decrease	in debtors						(248,260)	35,890
Decrease in creditors							(33,544)	(6,586)
Net cash (used in)/provided			by operations				(265,762)	101,343
ANALYSIS OF CASH AND		CASH EQUIVALENTS
							31 12.22	31.12.21
							5	5
Cash in hand							547	447
Notice deposits (less	than 3months)						333,375	717,976
Overdrafts included in bank		loans and overdraRs			falling	due within one year	(65,278)	(65,872)
Total cash and cash	equivalents						268,644	652,551
ANALYSIS OF CHANGES IN			NET DEBT
						At 1.1.22	Cash flow	At 31.12.22
						5		f
Net cash
Cash at bank and in	hand					718,423	(384,501)	333,922
Bank overdrafts						(65,872)	594	(65,278)
						652,551	(383,907)	268,644
Debt
Debts falling due within I year						(62,315)	(115)	(62,430)
Debts falling due after I year						(1,145,848)	22,126	(1,123,722)
						(1,208,163)	22,011	(1,186,152)
Total						(555,612)	(361,896)	(917,508)

								31.12.22 f	31.12.21 F.
Donations								357,933	361,389
Gift aid								66,012	73,204
Grants								65,272	168,166
								489,217	602,759
Grants received,		included		in the above, are as follows:
								31.12.22	31.12.21
								F	F.
Institute ofDevelopment				Studies				65,272	168,166
INVESTMENT INCONIE
								31.12.22	31.12.21
								6	8
Rents receivable								25,000	25,000
Deposit account interest								50	3
								25,050	25,003
RAISING FUNDS
RAISING DONATIONS			AND LEGACIES
								31.12.22	31.12.21
									8
Telephone 8	Internet							3,411	3,849
Postage and	stationery							798	476
Sundries								3,420	1,767
								7,629	6,092
CHARITABLE ACTIVITIES COSTS
						Grant
						funding	of
						activities		Support
					Direct	(see note		costs (see
					Costs f	6)f		note 7) f	Totals 8
Church Expenses					291,456			22,064	313,520
Donations						165,900			165,900
City Mission.
					1,136				1,136
Diocese ofLondon expenses					92,014				92,014
Convent expenses					23,907				23,907
Youth expenses					2,879				2,879
Contribution	to The Coptic Orthodox
Diocese of London					19,049				19,049
					430,441	165,900		22,064	618,405

GRANTS PAYABLE
	31.12.22	31.12.21
	F	6
Donations	165,900	277,343

					Governance
					costs
					8
Church	Expenses				22,064
Support	costs, included		in the above, are as follows:
				31.12.22	31.12.21
				Church	Total
				Expenses	activities
				6	6
Auditors'	remuneration			12,060	9,800
Legal &	professional	fees		10,004	6,485
				22,064	16,285

STAFF COSTS
				31 12.22	31.12.21
				8	5
Wages and salaries				116,102	106,191
Social security costs				8,274	5,527
Other pension costs				1,366	1,141
				125,742	112,859
The average monthly	number	ofemployees	during the year was as follows:
				31.12.22	31.12.21
Caretaker				1	1
Media				1	1
Priest				1	1
Secretarial				1	1

				Unrestricted	Restricted	Total
				funds	funds	funds
				5	2	F
INCOME AND ENDOWMENTS		FROM
Donations and legacies				434,593	168,166	602,759
Investment income				25,003		25,003
Other income				88,647		88,647
Total				548,243	168,166	716,409
EXPENDITURE ON
Raising funds				6,092		6,092
Charitable activities
Church Expenses				216,164		216,164
Donations				90,718	186,889	277,607
City Mission.
				2,056		2,056
Diocese ofLondon expenses				94,439		94,439
Convent expenses				32,549		32,549
Refcemi expenses				200	16,049	16,249
Youth expenses				1,927		1,927
Freedom of religion	and belief project				10,500	10,500
Contribution to The	Coptic Orthodox Diocese of
London				36,181		36,181
Total				480,326	213,438	693,764
NET INCOME/(EXPENDITURE)				67,917	(45,272)	22,645
Transfers between	funds			20,000	(20,000)
Net movement in funds				87,917	(65,272)	22,645
RECONCILIATION	OF FUNDS
Total funds brought	forward			4,052,822		4,052,822
TOTAL FUNDS CARRIED FORWARD				4,140,739	(65,272)	4,075,467
TANGIBLE FIXEDASSETS
				Fixtures
			Freehold	and	Motor
			property f	fittings 8	vehicles 9	Totals 2
COST
At 1 January 2022			4,100,193	217,040	45,865	4,363,098
Additions				48,977		48,977
At 31 December 2022			4,100,193	266,017	45,865	4,412,075
DEPRECIATION
At 1 January 2022				145,599	18,058	163,657
Charge for year				18,062	6,951	25,013
At 31 December 2022				163,661	25,009	188,670
NET BOOK VALUE
At 31 December 2022			4,100,193	102,356	20,856	4,223,405
At 31 December 2021			4,100,193	71,441	27,807	4,199,441

12.	INVESTMENT PROPER	T	Y
	FAIR VALUE
	At 1 January 2022
	and 31 December 2022					411,011
	NET BOOK VALUE
	At 31 December 2022					411,011
	At 31 December 2021					411,011
13.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
					31.12.22	31.12.21
					6	f.
	Other debtors				83,705	73,597
	The Coptic Diocese ofLondon				238,152
					321,857	73,597
14.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
					31.12.22	31.12.21
					f
	Bank loans and overdraits		(see note 16)		127,708	128,187
	Trade creditors				3	32,917
	Taxation and social security				3,773	3,723
	Other creditors				26,250	16,330
					157,734	181,157
15.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
					31.12.22	31.12.21
	Bank loans (see note 16)				1,123,722	1,145,848
16.	LOANS
	An analysis ofthe maturity		of	loans is given below:
					31.12.22	31.12.21
					f.	5
	Amounts falling due within		one year on demand:
	Bank overdrafts				65,278	65,872
	RBS Land Loan				62,430	62,315
					127,708	128,187
	Amounts falling between	one		and two years:
	Bank loans —1-2years				62,430	62,000
	Amounts falling due between			two and five years:
	Bank loans —2-5 years				187,290	168,000
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by	instal			874,002	915,848

MOVEMENT IN FUNDS
					Net	Transfers
					movement	between	At
				At 1.1.22	in funds	funds	31.12.22
				6	6	6	6
Unrestricted funds
General fund				2,976,937	(37,187)	(62,874)	2,876,876
St Mark &Pope Tawadros		Fund		(199,130)	(9,732)	(25,000)	(233,862)
Youth Fund				37,179	4,267	(400)	41,046
Benevolent Fund				91,618	(38,380)		53,238
London Diocesan Fund				1,234,135	(50,968)	88,274	1,271,441
				4,140,739	(132,000)		4,008,739
Restricted funds
Refcemi projects Institute		of Development
Studies				(65,272)	65,272
TOTAL FUNDS				4,075,467	(66,728)		4,008,739
Net movement in funds,	included			in the above are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
					6	F	6
Unrestricted funds
General fund					287,584	(324,771)	(37,187)
St Mark 8 Pope Tawadros Youth Fund		Fund			5gg 16,548	(10,331) (12,281)	(9,732) 4,267
Benevolent Fund					114,884	(153,264)	(38,380)
London Diocesan Fund					74,419	(125,387)	(50,968)
					494,034	(626,034)	(132,000)
Restricted funds
Refcemi projects Institute		ofDevelopment
Studies					65,272		65,272
TOTAL FUNDS					559,306	(626,034)	(66,728)
Comparatives for movement			in	funds
					Net	Transfers
					movement	between	At
				At 1.1.21	m funds	funds	31.12.21
				F		f
Unrestricted funds
General fund				2,625,638	61,178	290,121	2,976,937
St Mark &Pope Tawadros		Fund		(193,756)	13,456	(18,830)	(199,130)
Youth Fund				60,228	(23,321)	272	37,179
Benevolent Fund				65,263	26,355		91,618
London Diocesan Fund				1,495,449	(9,751)	(251,563)	1,234,135
				4,052,822	67,917	20,000	4,140,739
Restricted funds
Refcemi projects Institute		of Development
Studies					(45,272)	(20,000)	(65,272)
TOTAL FUNDS				4,052,822	22,645		4,075,467

Comparative net movemen	t in funds, included in th	e above are	as fol	lows:
				Incoming	Resources	Movement
				resources	expended	in funds
				6	6	6
Unrestricted funds
General fund				292,869	(231,691)	61,178
St Mark &Pope Tawadros	Fund			701	12,755	13,456
Youth Fund				29,285	(52,606)	(23,321)
Benevolent Fund				107,619	(81,264)	26,355
London Diocesan Fund				117,769	(127,520)	(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
A current year 12months	and prior year 12months	combined	position	is as follows:
				Net	Transfers
				movement	between	At
		At 1.1.21 f		in funds 2	funds 6	31.12.22 6
Unrestricted funds
General fund		2,625,638		23,991	227,247	2,876,876
St Mark &Pope Tawadros	Fund	(193,756)		3,724	(43,830)	(233,862)
Youth Fund		60,228		(19,054)	(128)	41,046
Benevolent Fund		65,263		(12,025)		53,238
London Diocesan Fund		1,495,449		(60,719)	(163,289)	1,271,441
		4,052,822		(64,083)	20,000	4,008,739
Restricted funds
Refcemi projects Institute	of Development
Studies				20,000	(20,000)
TOTAL FUNDS		4,052,822		(44,083)		4,008,739

		Incoming	Resources	Movement
		resources	expended	in funds
Unrestricted funds
General fund		580,453	(556,462)	23,991
St Mark &Pope Tawadros	Fund	1,300	2,424	3,724
Youth Fund		45,833	(64,887)	(19,054)
Benevolent Fund		222,503	(234,528)	(12,025)
London Diocesan Fund		192,188	(252,907)	(60,719)
		1,042,277	(1,106,360)	(64,083)
Restricted funds
Refcemi projects Institute	ofDevelopment
Studies		233,438	(213,438)	20,000
TOTAL FUNDS		1,275,715	(1,319,798)	(44,083)