Registered number 1040670
Greek Language Educational Establishment of Hertfordshire
Report and Accounts
For the period from 1 September 2018 to 31 August 2019
Greek Language Educational Establishment of Hertfordshire Report and accounts Contents
| Page | |
|---|---|
| Annual Report | 1 - 2 |
| Accountants' report | 3 |
| Income and Expenditure | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 7 |
Greek Language Educational Establishment of Hertfordshire
ANNUAL REPORT FOR THE YEAR TO 31 AUGUST 2019
The Trustees and Governing Body present their report together with the financial statements of the charity for the year ended 31 August 2019.
The Members of the Governing Body during the year were:
Chair: Andrew Pantelli Vice Chair: Mike Christoforou Secretary: Maria Georgiou Treasurer: Maria McVey Social Secretary: Christina Leonidas Communications: Miranda Hava Member: Georjy Pantelli Member: Vassos Hava Member: Nikki Anayiotou Member: Andy Georgiou Member: Demetris Tsangaris
Governing Body members are elected on an annual basis with Officers being elected from the Members of the Governing Body. The Annual General Meeting is held in October.
The Greek Language Educational Establishment of Hertfordshire is a charity registered with the Charity Commission, Number 1040670. The Charity's address is:
Oakmere J.M.I. School, Chace Avenue, Potters Bar, Herts., EN6 5NP
OBJECTS AND PRINCIPAL ACTIVITIES
The charity is established to enrich the children and young people in the county of Hertfordshire and neighbouring areas with their Greek heritage through the teachings of the Greek language, dance, song, performance, history, religion and culture in a happy learning environment; to take pride in the heritage of being Greek with a positive attitude towards the multi ethnic society of today.
RESULTS AND REVIEW
The attached financial statements show the current state of affairs of the charity's finances which the Governing Body considers to be satisfactory. Operating Funds are held in a current
account and Surplus funds are held in a deposit account. During 2018-2019 academic
year there were 122 pupils enrolled at the school (2018:135).
The charity is given permission by Oakmere School of Potters Bar to use their premises for an annual rent and it is anticipated that such permission will continue in the foreseeable future.
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Greek Language Educational Establishment of Hertfordshire
ANNUAL REPORT FOR THE YEAR TO 31 AUGUST 2019 Continued
The charity's bankers are:
Bank of Cyprus UK 87 Chase Side London, N14 5WH
HSBC 31 Chequer Street St Albans Hertfordshire AL1 3YN
The reporting accountants are AGK P a r t n e r s , Chartered Accountants and Tax Advisers, 1 Kings Avenue, London, N21 3NA.
Approved by the Governing Board on 1 2 O c t o b e r 2019 and signed on its behalf by:
Mr Andrew Pantelli Chair
Mrs Maria McVey Treasurer
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Greek Language Educational Establishment of Hertfordshire
Accountants' Report
We report on the financial statements of the Greek Language Educational Establishment of Hertfordshire for the year ended 31st August 2019 which are set out on pages 4 to 7.
Respective responsibilities of Trustees and Examiners
As the Charity's Trustees you are responsible for the preparation of the financial statements; you consider that a n audit is not required for this year under part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to examine the accounts under section 145 of the Charities Act 2011, and to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b of the Charities Act, whether particular matters have come to our attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records and comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the financial statements.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
Which gives us reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare financial statements which are in accordance with the accounting records and to comply with the accounting requirements of the C h a r i t i e s Act
have not been met, or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
AGK Partners Chartered Accountants and Tax Advisers
1 Kings Avenue London N21 3NA
31 October 2019
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Greek Language Educational Establishment of Hertfordshir
STATEMENT OF FINANCIAL ACTIVITIES
For the period from 1 September 2018 to 31 August 2019
| INCOMING RESOURCES Charitableactivities Notes Tuition and Membership fees Otheractivitiesgenerating funds Fundraising events 4 Tuck shop and other income Investment Income Interest received TotalIncoming resources RESOURCES EXPENDED Costs of generating funds Fundraising costs 4 Total cost of generating funds Directcharitable expenditure Wages and salaries 3 Insurance Printing, postage and stationery Books Sundries Bad debts Bank charges Website host Tuck shop and other expenses Rent Staff training and other staff costs Teachers Lunches Depreciation charge Totalcharitable expenditure Totalresources expended Netincome/(loss)for the year Fund balancebrought forward Fund balance for thefinancial year |
2019 £ 31,240 13,868 1,820 0 46,928 7,856 7,856 35,620 226 625 320 3,671 2,750 0 188 1,204 18,000 350 725 0 63,679 71,535 (24,607) 94,345 69,738 |
2018 £ 30,023 15,980 2,160 0 48,163 7,595 7,595 31,417 200 450 260 153 1,525 0 84 1,350 11,000 300 750 273 |
|---|---|---|
| 47,762 | ||
| 55,357 (7,194) |
||
| 101,539 | ||
| 94,345 |
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Greek Language Educational Establishment of Hertfordshire
Balance Sheet as at 31 August 2019
| Notes Fixedassets Equipment and costumes 1 Currentassets Debtors 5 Cash at bank and in hand Creditors:amounts fallingdue within one year 6 Net currentassets Total assets lesscurrent liabilities Netassets 2 Funds Unrestrictedincomefunds General purpose fund 2 |
2019 £ 0 0 57,263 69,738 0 69,738 69,738 69,738 69,738 12,475 |
2018 £ 0 0 79,891 94,345 0 94,345 94,345 94,345 94,345 14,454 |
2018 £ 0 0 79,891 94,345 0 94,345 94,345 94,345 94,345 14,454 |
|---|---|---|---|
| 69,738 0 |
94,345 |
||
| 94,345 | |||
| 94,345 | |||
| 94,345 | |||
| 94,345 |
Approved by the Governing Board on 12 October 2019 and signed on its behalf by:
Mr Andrew Pantelli Chair
Mrs Maria McVey Treasurer
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Greek Language Educational Establishment of Hertfordshire Notes to the Accounts For the period from 1 September 2018 to 31 August 2019
1 ACCOUNTING POLICIES
Basis of preparation of financial statements
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of recommended Practice FRS102 and the requirements of the Charities Act 2011.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. The assets have reached their estimated useful lives.
Plant and machinery
20% on reducing balance method
Stocks
Stock is valued at the lower of cost and net realisable value.
| 2 | SUMMARY OF NET ASSETS BY FUND | Unrestricted Funds | Unrestricted Funds |
|---|---|---|---|
| General Purpose | |||
| 2019 | 2018 | ||
| £ | £ | ||
| Fixed Assets | 0 | 0 | |
| Net Current Assets | 69,738 | 94,345 | |
| 69,738 | 94,345 | ||
| 3 | EMPLOYEES REMUNERATION | ||
| 2019 | 2018 | ||
| £ | £ | ||
| Teaching staff salaries | 35,505 | 31,304 | |
| Employer's national insurance | 115 | 113 | |
| 35,620 | 31,417 | ||
| 4 | FUNDRAISING EVENTS | 2019 | 2018 |
| £ | £ | ||
| Dinner &Dance | |||
| Proceeds | 11,837 | 13,666 | |
| Costs | 5,987 | 6,243 | |
| Net | 5,850 | 7,423 | |
| Barbeque | |||
| Proceeds | 1,125 | 865 | |
| Costs | 1,597 | 896 | |
| Net | -472 | -31 | |
| Christmas Fair and others | |||
| Proceeds | 906 | 1,449 | |
| Costs | 272 | 456 | |
| Net | 634 | 993 | |
| Total | 6,012 | 8,385 |
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Greek Language Educational Establishment of Hertfordshire Notes to the Accounts
For the period from 1 September 2018 to 31 August 2019
| 5 DEBTORS Advertising / Tuition fees |
2019 £ 12,475 |
2018 £ 14,454 |
|---|---|---|
6 CREDITORS Other creditors 0 0
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