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 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 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 - 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 12 October 2024 3 ## 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| 4 ## 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|