##
|||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|
##
##
##
##
##
##
##
##
##
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##
|||||||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)|
##