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← The Greek Orthodox Community Of Coventry

2025-03-31-accounts

THE GREEK ORTHODOX COMMUNITY OF COVENTRY

Charity Commission No. 1038431

For the Financial year to 31 MARCH 2025

THE GREEK ORTHODOX COMMUNITY OF COVENTRY

INDEX
REPORT OF THE TRUSTEES
INDEPENDENT EXAMINAR'S REPORT
TRUSTEES DECLARATION
STATEMENT OF FINANCIAL ACTIVITIES
STATEMENT OF ASSETS AND LIABILITIES
NOTES TO THE FINANCIAL STATEMENTS
RECEIPTS AND PAYMENTS ACCOUNT		 PAGES
1 - 4
5 & 6
7
8
9
10
11

THE GREEK ORTHODOX COMMUNITY OF COVENTRY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2025.

The Greek Orthodox Community of Coventry, Westwood Heath Road, Westwood Heath, Coventry, CV4 8GP, is registered with the Charity Commissioners (No. 1038431).

The Charity Trustees during the year to 31 March 2024 were:-

Archibishop Nikitas Lioulias of Thyateria & Great Britain Ex-officio Chairman Mr Jason Nearchou Chairman acting on behalf of the Archbishop Mr Andreas Papageorgi Secretary Mr Michael Gabriel Treasurer Mr Neophytos Michael Mr Stelios Tsirki Mr Michael Kyriakou Mr Harry Orthodoxou Mr Andreas Sergio Mr Alexandros N Panteli Mr Demetris Hadjitofi Mr Andrew Makris

The Offices of Chairman, Secretary and Treasurer are subject to annual election/re-election. Mr Jason Nearchou was elected Chairman acting on behalf of the Archbishop, Mr Andreas Papageorgi was elected as secretary and Mr Neophytos Michael re-elected as treasurer.

The principal address is Westwood Heath Road, Westwood Heath, Coventry, CV4 8GP.

The principal advisers include:-

A K Papadamou & Co Limited, Accountants & Tax Advisors, of 573 Chester Road, Sutton Coldfield, West Midlands, B73 5HU

National Westminster Bank PLC

1[st] Floor, Rowan House, Westwood Business Park, Westwood Way, Coventry, CV4 8LE

1

THE GREEK ORTHODOX COMMUNITY OF COVENTRY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust dated 4 May 1994, and constitutes an unincorporated charity.

Organisational Structure

The charity is governed by twelve trustees. Their powers and responsibilities, together with their method of appointment and tenure are set out in the Trust Deed. The Trustees are responsible for ensuring that the charity delivers its objectives and for the ownership and efficient management of the assets for the charity. They are ultimately responsible for the acquisition and disposal of assets and for the raising of finance, through loans, to finance the activities of the charity. All assets owned by the charity are in the names of the Trustees. These are the church buildings, the school building and community hall and the priest's house. The Greek Orthodox Community of Coventry owns and is responsible for 4 acres of Land opposite the Church.

The Trustees oversee the 2 committees that cover the activities of the charity. These are the Church Committee and the Ladies Auxiliary Society.

The Church committee, which has 12 members, has its own Chairman, Treasurer and Secretary who with the other 9 members of the committee are also responsible for managing the day to day running of the Church and the School. This includes raising funds to cover everyday expenses, repairs and maintenance and fund major capital projects. The day to day running of the School is undertaken by the head teacher together with the school coordinator, who is a member of the church committee. The church committee is also the management committee of the School. Meetings are held on the first Wednesday of each month, of the year.

The Ladies Auxiliary Society has a separate committee made up of 12 ladies of whom one is elected President, one Treasurer and a Secretary. Both committees have their own constitution, which have been approved by the Archbishop. As with the Church committee the Auxiliary Society meet on a monthly basis and have as their main purpose to assist the Church committee with fund raising to fund the activities of the Church and the School but also raise funds for charitable and philanthropic causes within the wider community.

Risk Management

The Trustees oversee the activities of the two main committees of the charity to ensure that appropriate procedures, policies and controls are in place to manage various financial, structual, legal and health risks Regular strategic business plans are produced to identify major opportunities and threats to the financial viability of the Church and School.

The Church/School committee working together with the School Head have developed clearly defined policies and procedures incorporating best practice to comply with all regulations in the areas of health and safety, child protection, equal opportunities, financial discipline and good governance. These policies and procedures have been accredited by the National Resource Centre for Supplementary Education, and the Greek School has been awarded the Gold Quality Mark for supplemantary schools.

The policies have been adapted and adopted by the Church committee to ensure compliance with all necessary regulations.

In addition to the adoption of policies and procedures to manage risks, the normal risks associated with the Church building and other assets owned by the charity, that is fire, theft, accidental damage and the like, are also managed by the Trustees by ensuring that there is a comprehensive insurance policy in place to cover all perils, including accidents to children, teachers, churchgoers and all officers and volunteers working for the charity. The policy also includes a £5,000,000 indemnity against public liability.

2

THE GREEK ORTHODOX COMMUNITY OF COVENTRY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are to promote the Greek Orthodox faith, liturgical life, language and culture of the orthodox people. The promotion of these objectives is done mainly through fund raising via dinner and dances, barbeques and donations from churchgoers. The charity is largely dependent upon unpaid help from community members.

Review of activities

The charity regularly reviews its activities via the use of strategic business plans. This enables efficient decision making and timely actions to manage downside risks to finances, such as encouraging donors to sign gift aid forms or to approve the funding of projects related to the objectives of the charity, such as donations to other charities/communities that are in greater financial need.

ACHIEVEMENT AND PERFORMANCE

The Church Committee is elected for a term of two years. It sets out a two year action plan and a budget approved at the Annual General Meeting of the Community. These objectives and targets cover major items of repair and maintenance and fund raising proposals to finance these target expenditures. The achievements are in line with projections. The Trustees oversaw major refurbishments to the Church, including the construction of a luxury 2 bedroom apartment that provides accommodation to visiting clergy and could be used in the future as a vicarage should the need arise. In additon, in November 2014 the Church purchased for the the sum of £81,250 four acres of land directly opposite the Church along the Westwood Heath Road. We have permission to use it as an overflowcar park from Warick District Council.

In addition the field is used fairly regularly as a play area for our school children for such activities like butterfly collecting and school games during breaks. At Easter and occasionally at other speacial events the field is used for bonifresand fireworks display.

In the financial year 2024/25, the Trustees have applied to become an Incorporated Charitable Organisation(Association Model) and have entered into negotiations to sell the field to a developer, subject to planning permission

FINANCIAL REVIEW

The surplus on the Charity’s activities amounted to:
Gifts and donations received		 2025
£35,079
£148,553		 2024
£18,277
£101,961

3

THE GREEK ORTHODOX COMMUNITY OF COVENTRY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on

and signed on their behalf by:

Archibishop Nikitas Lioulias of Thyateria & Great Britain:

Date :

On behalf of the Board of Trustees

4

THE GREEK ORTHODOX COMMUNITY OF COVENTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREEK ORTHODOX COMMUNITY OF COVENTRY

We have examined the receipts and payments account and statement of assets and liabilities of The Greek Orthodox Community of Coventry for the year ended 31 March 2025 and the related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with regulations made under section 145 of the Charities Act 2011. Our work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and examiner

The trustees’ responsibilities for preparing the Trustees’ Annual Report, the receipts and prepayment account and statement of asstes and liabilities in accordance with applicable law are set out in the statement of Trustees’ Responsibilities. The receipts and prepayment account and statement of asstes and liabilities have been prepared under section 133 of the Charities Act 2011 following the guidance for accounting under the receipts and payments basis issued by the Charity Commission.

We have been appointed as examiner under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 145 of that Act. Our responsibility is to examin the receipts and prepayment account and statement of asstes and liabilities in accordance with relevant legal and regulatory requirements.

Basis of independent examiner's statement

Our examination was carried our in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accoutning records. In also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning such matters. The procedure undertaken do not provide all the evidence that would be required in an audit, and consiquently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

5

THE GREEK ORTHODOX COMMUNITY OF COVENTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREEK ORTHODOX COMMUNITY OF COVENTRY (continued….)

Opinion on financial statements

In our opinion the account and statement:

Matters on which we are required to report by exception

We have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

For and on behalf of A K Papadamou & Co

A K Papadamou & Co Limited Accountants & Tax Advisors 573 Chester Road Sutton Coldfield West Midlands B73 5HU Dated :

6

THE GREEK ORTHODOX COMMUNITY OF COVENTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREEK ORTHODOX COMMUNITY OF COVENTRY

The Financial Statements set out on pages 8 to 11 are as approved by the Trustees

……………………………………………….

Date …………………………

Mr Michael Gabriel, Trustee authorised to sign on behalf of all the Community’s Trustees.

7

THE GREEK ORTHODOX COMMUNITY OF COVENTRY STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
INCOMING RESOURCES
Gifts and Donations
Deeds of Covenant
Related Tax Refunds
Other Gifts & Donations
Other Activities
Income from Activities
Interest received
Net Rents Received
DIRECT CHARITABLE EXPENDITURE
Visiting Priests’ Expenses
Expenses Re Charitable Functions
Insurance
Other Administrative Expenses
OTHER EXPENDITURE
Donations
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 TOTAL FUNDS (UNRESTRICTED)
£
£
£
£
50,837
30,278
10,886
11,362
86,830
60,320
148,553
101,960
12,371
17,295
3,872
3,060
11,108
10,875
27,351
31,230
175,904
133,190
34,796
28,736
17,491
12,967
3,606
2,711
33,494
33,822
89,387
78,236
51,438
36,677
51,438
36,677
(140,825)
(114,913)
35,079
18,277
875,469
857,192
£
910,548
£
875,469
2025
2024

£
£
50,837
10,886
86,830
148,553
12,371
3,872
11,108
27,351
175,904
34,796
17,491
3,606
33,494
89,387
51,438
51,438
(140,825)
35,079
875,469
£
910,548
2025

8

THE GREEK ORTHODOX COMMUNITY OF COVENTRY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

ASSETS
FIXED ASSETS
Greek Orthodox Church –
Westwood Heath Road, Coventry
New Hall and School
Land on South Side of Westwood Heath Road
Priest’s House –
38 Elm Street Avenue, Coventry
Fixtures, Fittings & Equipment
CURRENT ASSETS
Treasury Bond
Cash at Building Society/Bank
TOTAL ASSETS
Represented by
:-
ACCUMULATION FUND ACCOUNT
Capital Fund B/Forward
Net Movement in Funds for the Year
TOTAL FUNDS CARRIED FORWARD		 £
£
181,283
166,660
94,116
51,675
174,652
668,386
150,000
92,162
242,162
£
910,548
875,469
35,079
910,548
£
910,548
2025		 £
£
181,283
166,660
94,116
51,675
174,652
668,386
140000
67,083
207,083
£
875,469
857,192
18,277
875,469
£
875,469
2024

9

THE GREEK ORTHODOX COMMUNITY OF COVENTRY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1) 2025
2024
STATEMENT OF RECEIPTS
£
£
The Plate (Collection)
30,334
27,909
Dinner & Dance/Raffles & Kebab Days
7,844
12,641
Baptisms, Funerals
2,790
2,754
Feasts (Saints’ Days)
1,260
1,095
Weddings
-
500
Donations
52,446
28,062
Hire of Church Hall & Car Park
1,800
1,000
Deeds of Covenant
50,837
30,278
Income Tax Refunds
10,886
11,362
Net Rents Received
11,108
10,875
Feed-in Tariff Scheme
2,727
3,654
Interest received
3872
3060
175,904
133,191
£
175,904
£
133,191

2) FINANCIAL STATEMENTS

These Financial Statements have been drawn upon a receipts and payments basis and no account has been taken of accruals or prepayments as at 31 March 2025.

10

THE GREEK ORTHODOX COMMUNITY OF COVENTRY RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

TOTAL RECEIPTS
(Note 1)
LESS: EXPENDITURE
Visiting Priests’ Expenses/ Wages
Cleaning & Refuse
Light & Heat
Telephone
Printing, Stationery, Books & Calendars
Donations
Repairs & Maintenance
Insurance
Barbeque Sundays & Miscellaneous Expenses
Gifts & Hospitality
Accountants Fees
Travel & Subsistence
Legal & professional fee
EXCESS OF RECEIPTS OVER EXPENDITURE		 £
£
175,904
34,796
4,610
5,928
1,673
6,501
51,438
11,181
3,606
17,491
140
1,320
755
1,387
140,825
£
35,079
2025		 £
£
133,191
28,736
3,909
9,433
973
3,180
36,677
9,634
2,711
12,967
4,875
1,320
-
500
114,913
£
18,277
2024

11