Registered number 1040670
Greek Language Educational Establishment of Hertfordshire
Report and Accounts
For the period from 1 September 2021 to 31 August 2022
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 |
Greek Language Educational Establishment of Hertfordshire
ANNUAL REPORT FOR THE YEAR TO 31 AUGUST 2022
The Trustees and Governing Body present their report together with the financial statements of the charity for the year ended 31 August 2022.
The Members of the Governing Body during the year were:
Chair: Marios Artemi Vice Chair: Helen Nicolaou Secretary: Andrew Panteli Treasurer: Maria McVey Fundraising /Events Secretary: Penny Papadopoulos
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:
Dame Alice Owen’s School, Dugdale Hill Lane, Potters Bar, Herts, EN6 2DU
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 2021-2022 academic
year there were 83 pupils enrolled at the school (2021:75). Following the outbreak of the
Covid-19 pandemic the usual fundraising activity of the charity was limited.
The charity is given permission by Dame Alice Owen’s School 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 2022
Continued
The charity's bankers are:
HSBC 31 Chequer Street St Albans Hertfordshire AL1 3YN
Chartered Accountants and Tax Advisers, AGK Partners of 1 Kings Avenue, London, N21 3NA, provide pro-bono services to the charity.
Approved by the Governing Board on 1 5 O c t o b e r 2022 and signed on its behalf by:
Mr Marios Artemi 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 2022 which are set out on pages 4 to 6.
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
-
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
- 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
15 October 2022
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Greek Language Educational Establishment of Hertfordshir
STATEMENT OF FINANCIAL ACTIVITIES
For the period from 1 September 2021 to 31 August, 2022
| INCOMING RESOURCES Charitableactivities Notes Tuition and Membership fees Otheractivitiesgenerating funds Fundraising events Other fundraising income Income from grants TotalIncoming resources RESOURCES EXPENDED Costs of generating funds Fundraising costs Total cost of generating funds Directcharitable expenditure Wages and salaries 3 Insurance Printing, postage and stationery Books Sundries Bad debts Website host Tuck shop and other expenses Rent Staff training and other staff costs Other teacher costs Totalcharitable expenditure Totalresources expended Netincome/(loss)for the year Fund balancebrought forward Fund balance for thefinancial year |
2022 £ 30,402 4,785 6,373 0 41,560 7,620 7,620 26,015 116 801 1,220 35 2,547 93 0 13,000 1,400 1,204 ~~0~~ 46,431 54,051 (12,491) 83,311 70,820 |
2021 £ 29,843 0 5,724 6,450 |
|---|---|---|
| 42,017 | ||
| 0 | ||
| 0 11,243 111 129 649 613 3,858 0 0 2,768 811 0 |
||
| 20,182 | ||
| 20,182 21,835 |
||
| 61,476 | ||
| 83,311 |
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Greek Language Educational Establishment of Hertfordshire
Balance Sheet as at 31 August 2022
| 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 |
70,676 1,524 |
2022 £ 0 0 70,820 70,820 70,820 70,820 |
2021 £ 0 0 87,466 87,466 4,155 83,311 83,311 83,311 83,311 0 |
2021 £ 0 0 87,466 87,466 4,155 83,311 83,311 83,311 83,311 0 |
|---|---|---|---|---|
| 72,200 1,380 |
87,466 |
|||
| 83,311 | ||||
| 83,311 | ||||
| 83,311 | ||||
| 83,311 |
Approved by the Governing Board on 15 October 2022 and signed on its behalf by:
Mr Marios Artemi Chair
Mrs Maria McVey Treasurer
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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
| 2 | SUMMARY OF NET ASSETS BY FUND | Unrestricted Funds | Unrestricted Funds |
|---|---|---|---|
| General Purpose | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Fixed Assets | 0 | 0 | |
| Net | Current Assets | 70,820 | 83,311 |
| 70,820 | 83,311 | ||
| 3 | EMPLOYEES REMUNERATION | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Teaching staff salaries | 25,647 | 11,243 | |
| Employer's national insurance | 368 | ||
| 26,015 | 11,243 | ||
| 4 | DEBTORS | 2022 £ |
2021 £ |
| Tuition fees | 1524 | 0 | |
| 5 CREDITORS | 2022 | 2021 | |
| £ | £ | ||
| Other creditors (Fees received in advance) | 1,380 | 4,155 |