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. 1 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 2 ## 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: 1. Which gives us reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the Charities Act; - 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 2. 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 3 ## 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| 4 ## 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 5 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**| 6 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 7