2024-08-31-accounts

Registered number 1040670

Greek Language Educational Establishment of Hertfordshire

Report and Accounts

For the period from 1 September 2023 to 31 August 2024

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 2024

The Trustees and Governing Body present their report together with the financial statements of the charity for the year ended 31 August 2024.

The Members of the Governing Body during the year were:

Chair: M McVey Vice-chair: A Georgiou Secretary: M Georgiou Treasurer: G Kakouris Events: M Mavrokordatos A Kakouris

Governing Body members are elected on an annual basis with Officers being elected from the Members of the Governing Body. The Annual General Meeting was held in October 2024.

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 2023-2024 academic year there were 120 pupils enrolled at the school (2023: 129).

Following the outbreak of the Covid-19 pandemic the fundraising activity of the charity increased slightly but not to the pre-Covid levels. A grant of £5,525 (2023: £6,375) was received from the Cyprus Government as financial support to Greek Language schools of the diaspora, to alleviate the financial pressures resulting from the pandemic.

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 2024

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 2 O c t o b e r 2024 and signed on its behalf by:

Mrs Maria McVey

Mrs M Georgiou

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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 2024 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:

1. Which gives us reasonable cause to believe that in any material respect the requirements

2. to keep accounting records in accordance with section 130 of the Charities Act;

3. 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

1. 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

12 October 2024

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Greek Language Educational Establishment of Hertfordshire

STATEMENT OF FINANCIAL ACTIVITIES

For the period from 1 September 2023 to 31 August, 2024

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 and student awards Sundries Bad debts Website host and technology 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	2024 £ 43,193 4,244 2,053 5,525 55,015 2,515 2,515 36,231 153 410 194 160 595 373 0 13,000 0 2,342 ~~0~~ 53,458 55,973 ( 958) 72,443 71,485	2023 £ 42,883 6,798 5,044 6,375 61,100 6,406 6,406 30,388 140 434 200 346 691 118 0 12,000 5,020 3,734
		53,071
		59,477 1,623
		70,820
		72,443

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Greek Language Educational Establishment of Hertfordshire

Balance Sheet as at 31 August 2024

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	70,585 3,150	2024 £ 0 0 71,485 71,485 71,485 71,485	2023 £ 0 0 70,201 77,523 5,080 72,443 72,443 72,443 72,443 7,322	2023 £ 0 0 70,201 77,523 5,080 72,443 72,443 72,443 72,443 7,322
	73,735 2,250		77,523
				72,443
				72,443
				72,443
				72,443

Approved by the Governing Board on 12 October 2024 and signed on its behalf by:

Mrs Maria McVey Chair

Mrs M Georgiou Secretary

5

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

2	SUMMARY OF NET ASSETS BY FUND	Unrestricted Funds
		General Purpose
		2024	2023
		£	£
Fixed Assets		0	0
Net	Current Assets	71,485	72,443
		71,485	72,443
3	EMPLOYEES REMUNERATION
		2024	2023
		£	£
Teaching staff salaries		34,062	29,262
Employer's national insurance		2,168	1,126
		36,230	30,388
4	DEBTORS	2024 £	2023 £
Fees	and	3,150	7,322
prepayments
5 CREDITORS		2024	2023
		£	£
Tuition fees deposits		2,250	5,080
		2,250	5,080