REGISTERED CHARITY NUMBER: 1049541
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
|
|
Page |
|
Report of the Trustees |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
|
6 |
|
Notes to the Financial Statements |
7 |
to |
11 |
Detailed Statement of Financial Activities |
|
12 |
|
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2020.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharities preparing
theiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective and aims of the charity are:
TopreserveandpropagatetheChristianOrthodoxfaithandtraditionsascontainedintheHolyScriptures,aspractisedinthelifeof the
Church,asconfirmedbytheEcumenicalandlocalcouncilsandasinterpreted,preservedandtaughtbytheGreatChurchofChrist, the
Ecumenical Patriarchate of Constantinople.
TopreservetheoriginallanguageoftheNewTestamentinDivineWorshipandintheEcclesiasticallifeofthefaithful,andtominister to
thepeoplethroughcanonicalservicesconductedaccordingtotheorderoftheGreatChurchofConstantinoplebycanonicalpriests, and
through sermons and through catechism and Greek Language Schools.
To establish schools for the teaching of Greek Orthodox education.
ToreceiveintotheOrthodoxChristianfaith,byBaptismorCharismatic,allthosewhofreelydecideandsincerelydesiretoadopt the
Orthodox Christian faith, and to live in accordance with its spiritual and moral teaching.
Toundertakecharitableworkforthebenefitofthosewhoneedprotection,assistanceandmedicalcare,tomakegrants to
organisations (including schools and charities), to provide services (including care/counselling).
The trustees are pleased to report that in their opinion the objectives were generally met.
Significant activities
The charity's significant activities are the administering of the assets of the charity, including the church and its contents.
Public benefit
Thetrusteesconfirmthattheyhavecompliedwiththeirdutytohaveregardtotheguidanceonpublicbenefitpublishedbythe Charity
Commission in exercising their function.
Volunteers
All trustees perform their duties on a voluntary basis.
ACHIEVEMENT AND PERFORMANCE
Theresultsforthefinancialyearofthecharityareshownintheannexedfinancialstatements.Thereceiptsofthecharity have
increasedthisyearmainlyfromtherentalincomeanddonations.Asaresult,thenetincomefortheyearwas£25,793(2019: £63,126).
The expenditure was maintained almost at the same level as previous year.
InpreviousyearstheCommunityBoardhadusedfundsraisedforthepurposeofpurchasingafreeholdpropertytobeusedas a
vicarage but it was agreed to initially be let to manage the repayment of the mortgage.
FINANCIAL REVIEW
Principal funding sources
TheCharitygeneratesincomefromdonations,themajoritybeingreceivedfromTheGreekOrthodoxCommunity"TheTwelve Apostles"
HertfordshireTrust,theoperatingcharity,forthepaymentsofitscoststowardsmanagingandadministeringtheassetsofthe charity,
unless specifically specified.
Investment in car park
In2013,aninformalagreementwasmadewiththeexistinglandlordoftheleaseholdpremisestoextendthecarpark.The expenditure
wasapprovedbythetrusteesandlocalauthorityapprovalwasobtained.Thetrusteesexpectaminimumof10yearsuseand the
expenditure has been amortised accordingly.
Review of Charity's financial position
TheTrusteeshighlightstheincreaseindonationsandincomeduringtheyear£55,626(2019:£67,301).In2021weexpectthe same
level of donations and rental income.
TheresultsofthecharityaresetoutonPage5-11.Thefinancialpositionofthecharityisstrongwithunrestrictedfundsof £1,383,587
(2019:£1,357,794)andnetcurrentassetsof£37,079(2019:£23,533).Thetrusteesareconfidentthatsafeguardsareinplace to
preserve the charity's ability to generate forthcoming income.
Witheffectfrom1July2005TheGreekOrthodoxCommunity"TheTwelveApostles"HertfordshireBoardagreedthatThe Greek
OrthodoxCommunity"TheTwelveApostles"HertfordshireTrust(CharityRegistrationNumber1108369)willmaintainallthe operations
fortheCharity(CharityRegistrationNumber1049541)includingallincome,hireandlettingofthepremises,makingallpayments for
running and administration.
Page 1
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
FINANCIAL REVIEW
Reserves policy
Thetrusteeshaveconsideredthereservespolicy.TheCharityinvestsinHeritageassets,£923,860(2019:£907,044)whichareused for
thepromotionofthecharity'sobjectives.Theincomegeneratedbyallassets,togetherwiththeincomefromTheGreek Orthodox
Community"TheTwelveApostles"HertfordshireTrustisactivelymonitoredtoallowsufficientreservestofundthecommitmentsof the
Charity.
FUTURE PLANS
The Community Board's aims are:
A To increase the Church's capacity
B To attract younger members to our community.
C To improve the church grounds.
D To promote attendance at our Saturday morning services in English.
E To find local accommodation suitable for community and pastoral needs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesanunincorporatedcharitywhichisthe custodial
charity.Theincorporatedcharity,TheGreekOrthodoxCommunity"TheTwelveApostles"HertfordshireTrust,istheoperating charity
and its surplus income is donated to the trust.
Recruitment and appointment of new trustees
ThetrusteesofthecharitywhoarealsotrusteesoftheincorporatedbodyTheGreekOrthodoxCommunity"TheTwelve Apostles"
Hertfordshire Trust (Registered Charity No:1108369) must be members of the Community.
Allmembersareeligibletostandforelection.Applicantsareappointedbyvotingandfourareselectedandappointedbyhis Eminence
theArchbishopofThyateiraandGreatBritaininconsultationwiththeparishpriest.Thetrusteeswillserveatermoftwoyears. The
trusteesarefamiliarwiththepracticalworkofthecharity.DuetoCovid19pandemictheArchbishopextendedthetermofthe trustees
for another year.
Organisational structure
ThecharityisgovernedbyitstrusteeswhocomprisetheCommunityBoard.TheCommunityBoardcomprisestheelectedmembers of
theincorporatedbodyknownasTheGreekOrthodoxCommunity"TheTwelveApostles"HertfordshireTrust(Registered Charity
No.1108369).
ThemembersofthecharityarethepersonsservingontheCommunityBoard.EachpersonwhoisamemberoftheCommunity Board
shall,atthetimeofthisappointmenttotheCommunityBoard,becomeamemberofthecharityandonceasingtobeamemberof the
Community Board, for any reason ,shall at the same cease to be a member of the charity.
TheBoardmeetstentimesayeartoadministertheaffairsofthecharity.TheBoardelectaChairman,aVice-Chairman,a Treasurer
and a Secretary to carry out day-to-day functions.
Thepresidingpriestbyvirtueofhiscanonicalordinationadministersthepriestlydutieswhichconsistinshepherdingthe Parish
entrusted to his care, directing its orderly life, preserving its unity and keeping it faithful to its divine purpose.
The Board appoints sub-committees to develop, administer and promote fund raising, religious festivals and charitable causes.
Induction and training of new trustees
Alltrusteesarebriefedontheirlegalobligationsundercharityandcompanylaw,thecontentofthedeedoftrust,thecommittee and
decision making processes, the projections and recent financial performance of the charity.
AtthefirstboardmeetingthetrusteeswillelecttheChair,TreasurerandSecretary.TheChairco-ordinatesallthecharity's activities
including meetings, functions, fund raising committees and liaises with the priest and staff.
TheTreasurermaintainsthefinancialrecords,managementreports,budgetingandthepreparationoffinancialstatements. The
Secretary maintains the minutes and correspondence.
All other trustees are on a rota for church services, candle sales, collections and fund raising.
Wider network
The Charity is under the auspices of the Greek Archdiocese of Thyateira and Great Britain.
Related parties
ThecharityisgovernedbyitstrusteeswhoarealsoelectedmembersandtrusteesofTheGreekOrthodoxCommunity"The Twelve
Apostles" Hertfordshire Trust, and receives a substantial amount of the surplus funds generated by the incorporated body.
Page 2
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Amendments and additions to the constitution
Aspecialresolutionwaspassedthatthecompanyknownas"TheGreekOrthodoxCommunityTheTwelveApostlesHertfordshire Trust"
(CompanyRegistrationNumber05059031)ofwhichtheCommunityBoardaretheMembersandDirectors,subjecttodelegationto the
company,thecompanymayonbehalfofthecommunityattherequestoftheCommunityBoard,holdthemoneycapitalandassets of
thecommunity(otherthanimmovablepropertyheldbytheTrusteesbutincludingincomeorothermoniesorbenefits derived
therefrom)andenterintocontractsofemploymentandinsuranceandforhiringorlettingofthepremisesofthecommunityor for
repairorimprovementthereoforforanyotherpurposeagreedbetweenthecompanyandtheCommunityBoardandmakeall payments
due under such contracts or to procure the services to be provided thereby or otherwise as the Community Board shall authorise.
REFERENCE AND ADMINISTRATIVE DETAILS
REFERENCE AND ADMINISTRATIVE DETAILS |
|
Registered Charity number |
|
1049541 |
|
Principal address |
|
Church Kentish Lane |
|
Brookmans Park |
|
Hatfield |
|
Hertfordshire |
|
AL9 6NG |
|
Trustees |
|
Archbishop Nikitas of Thyateira & Great Britain |
Archbishop |
D A Liveras |
Custodial Trustee |
L Loizou |
Custodial Trustee |
D Habeshis |
Custodial Trustee |
Y Nicholas |
Custodial Trustee |
M Pilinas |
Management Trustee-Chairman |
S Mastrides |
Management Trustee-Assistant Treasurer |
S A Savva |
Management Trustee-Secretary |
L Christodoulou |
Management Trustee |
A Kyprianides |
Management Trustee |
A C Michael |
Management Trustee |
J Chronias |
Management Trustee |
E Kritikos |
Management Trustee-Treasurer |
C D Constantinou |
Management Trustee |
S Economou |
Management Trustee |
Independent Examiner |
|
G Christoforou |
|
Institute of Chartered Accountants in England and Wales |
|
AC Partners LLP |
|
Chartered Accountants |
|
869 High Road |
|
London |
|
N12 8QA |
|
Solicitors |
|
Nicholas & Co. |
|
18 Wigmore Street |
|
London |
|
W1U 2RG |
|
Bankers |
|
Bank of Scotland |
|
33 St Andrew Square |
|
Edinburgh |
|
EH2 2YR |
|
Approved by order of the board of trustees on 21 September 2021 and signed on its behalf by:
M Pilinas - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE
Independent examiner's report to the trustees of The Greek Orthodox Community The Twelve Apostles Hertfordshire
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheGreekOrthodoxCommunityTheTwelve Apostles
Hertfordshire (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewiththerequirementsof the
Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshouldbedrawn in
this report in order to enable a proper understanding of the accounts to be reached.
G Christoforou
Institute of Chartered Accountants in England and Wales
AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA
21 September 2021
Page 4
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Total
EXPENDITURE ON
Raising funds
3
Charitable activities
Managing and Administering Charity
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2020
Unrestricted
fund
£
55,626
20,617
76,243
50,450
-
50,450
25,793
1,357,794
1,383,587 |
2019
Total
funds
£
67,301
21,097 |
|
|
88,398
-
25,272 |
|
|
25,272 |
|
|
63,126
1,294,668 |
|
|
1,357,794 |
The notes form part of these financial statements
Page 5
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
BALANCE SHEET
31 DECEMBER 2020
Notes
FIXED ASSETS
Tangible assets
6
Heritage assets
7
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
TOTAL FUNDS |
2020
Unrestricted
fund
£
422,648
923,860
1,346,508
37,979
(900)
37,079
1,383,587
1,383,587
1,383,587
1,383,587 |
2019
Total
funds
£
427,217
907,044
1,334,261
59,133
(35,600)
23,533
1,357,794
1,357,794
1,357,794
1,357,794 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon21September2021andweresigned on
its behalf by:
M Pilinas - Trustee
The notes form part of these financial statements
Page 6
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenpreparedinaccordance with
theCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthe historical
cost convention.
INCOME
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,itisprobable that
the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountofthe obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
ALLOCATION AND APPORTIONMENT OF COSTS
Costsareallocatedasgeneraloperatingexpensesunlesstheyareinregardtospecificactivitiesgenerationincome,in which
case they are then allocated according to specific cost type.
TANGIBLE FIXED ASSETS AND DEPRECIATION
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property |
- |
not provided |
Short leasehold |
- |
Over the life of the lease |
Plant and machinery |
- |
15% on reducing balance |
Fixtures and fittings |
- |
10% on reducing balance |
Computer equipment |
- |
15% on reducing balance |
TheFreeholdPropertyhasnotbeendepreciated,asthelongtermobjectiveistousethispropertywithinthe charity's
mainstreamactivity,asavicarage,andhenceitisstatedatcostandnottreatedasaninvestmentsproperty.The trustees
considerthatthisdeparturefromtherequirementinSORP2005todepreciatedfixedassetsisnecessarytoshowatrue and
fair view.
Thetrusteescarryoutanannualreviewoftangiblefixedassetsandimpairment.Itistheiropinionthattherehasbeen no
change in value during the current year.
HERITAGE ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritage assets - not provided
Freehold Church
TheFreeholdChurchactsasthespiritualandcommunitycentreforallmembersoftheGreekOrthodoxFaithbased in
Hertfordshire. The Freehold Church is reported in the Balance Sheet at cost and is not depreciated
Icons and Works of Art
TheCharity'sIconsandWorksofArtarereportedintheBalanceSheetatcostandarenotdepreciated.Thecollection is
deemedtohaveindeterminatelivesandhighresidualvalue;hence,theTrusteesdonotconsideritappropriateto charge
depreciation.
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 7
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
|
Rents received
RAISING FUNDS
RAISING DONATIONS AND LEGACIES
Support costs |
Unrestricted
funds
£
20,617
Unrestricted
funds
£
50,450 |
Restricted
funds
£
-
Restricted
funds
£
- |
2020
Total
funds
£
20,617
2020
Total
funds
£
50,450 |
2019
Total
funds
£
21,097 |
|
|
|
|
2019
Total
funds
£
- |
3. RAISING FUNDS
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2020norfortheyear ended
31 December 2019.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
67,301 |
Investment income |
21,097 |
Total |
88,398 |
EXPENDITURE ON |
|
Charitable activities |
|
Managing and Administering Charity |
25,272 |
NET INCOME |
63,126 |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
1,294,668 |
TOTAL FUNDS CARRIED FORWARD |
1,357,794 |
continued...
Page 8
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
6. TANGIBLE FIXED ASSETS
7.
COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
HERITAGE ASSETS
MARKET VALUE
At 1 January 2020
Additions
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019 |
Freehold
Short
Plant and
property
leasehold
machinery
£
£
£
388,638
70,954
9,170
-
-
-
388,638
70,954
9,170
-
61,463
5,050
-
5,000
618
-
66,463
5,668
388,638
4,491
3,502
388,638
9,491
4,120
Fixtures
and
Computer
fittings
equipment
Totals
£
£
£
146,581
1,982
617,325
4,000
-
4,000
150,581
1,982
621,325
122,698
897
190,108
2,789
162
8,569
125,487
1,059
198,677
25,094
923
422,648
23,883
1,085
427,217
Total
£
907,044
16,816
923,860
923,860
907,044 |
|
|
TheheritageassetsconsistoftheFreeholdChurchandicons.TheTrusteesensurethatheritageassetsaremaintained and
preserved.
The Church and icons are available for viewing by the public when the Church is open.
continued...
Page 9
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9.
|
2020 |
|
2019 |
|
£ |
|
£ |
Bank loans and overdrafts (see note 9) |
|
- |
34,700 |
Accrued expenses |
900 |
|
900 |
|
900 |
|
35,600 |
LOANS |
|
|
|
An analysis of the maturity of loans is given below: |
|
|
|
|
2020 |
|
2019 |
|
£ |
|
£ |
Amounts falling due within one year on demand: |
|
|
|
Bank loans |
|
- |
34,700 |
10. SECURED DEBTS
TheBankLoanwassecuredbywayofafirstlegalchargeoverthefreeholdproperty,grantedbytheGreek Orthodox
Community "The Twelve Apostles Hertfordshire".
11. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.20
£
1,357,794
1,357,794
Incoming
resources
£
76,243
76,243 |
Net
movement
in funds
£
25,793
25,793
Resources
expended
£
(50,450)
(50,450) |
At
31.12.20
£
1,383,587 |
At
31.12.20
£
1,383,587 |
|
|
|
1,383,587 |
|
|
|
|
Movement
in funds
£
25,793
25,793 |
|
|
|
|
|
25,793 |
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.19
£
1,294,668
1,294,668
Incoming
resources
£
88,398
88,398 |
Net
movement
in funds
£
63,126
63,126
Resources
expended
£
(25,272)
(25,272) |
At
31.12.19
£
1,357,794 |
At
31.12.19
£
1,357,794 |
|
|
|
1,357,794 |
|
|
|
|
Movement
in funds
£
63,126
63,126 |
|
|
|
|
|
63,126 |
continued...
Page 10
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.19
£
1,294,668
1,294,668 |
Net
movement
in funds
£
88,919
88,919 |
At
31.12.20
£
1,383,587 |
|
|
|
1,383,587 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
164,641 |
(75,722) |
88,919 |
TOTAL FUNDS |
164,641 |
(75,722) |
88,919 |
12. RELATED PARTY DISCLOSURES
TheCharityreceivedunrestricteddonationsamountingto£55,186(2019:£60,000)inwayofbothmoniesandassetsfrom The
Greek Orthodox Community "The Twelve Apostles" Hertfordshire Trust, which is the operating Charity.
The Trustees of the Charity are also Trustees of The Greek Orthodox Community "The Twelve Apostles" Hertfordshire Trust.
Page 11
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE
|
DETAILED STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|
|
|
2020 |
2019 |
|
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
Donations and legacies |
|
|
|
Donations -Non Gift Aid |
|
55,626 |
67,301 |
Investment income |
|
|
|
Rents received |
|
20,617 |
21,097 |
Total incoming resources |
|
76,243 |
88,398 |
EXPENDITURE |
|
|
|
Support costs |
|
|
|
Management |
|
|
|
Repairs and renewals |
|
- |
9,897 |
Accountancy Fees |
|
900 |
900 |
Professional Fees |
|
1,770 |
- |
Donations out |
|
38,603 |
5,000 |
Short leasehold |
|
5,000 |
5,000 |
Plant and machinery |
|
618 |
727 |
Fixtures and fittings |
|
2,788 |
2,654 |
Computer equipment |
|
163 |
193 |
|
|
49,842 |
24,371 |
Finance |
|
|
|
Bank charges |
|
- |
69 |
Bank loan interest |
|
608 |
832 |
|
|
608 |
901 |
Total resources expended |
|
50,450 |
25,272 |
Net income |
|
25,793 |
63,126 |
This page does not form part of the statutory financial statements
Page 12