CHARrrY REGISTRATION NUMBER: 1053102 St Lazarus Community of East London Trust Unaudited Financial Statements 31 December 2024 KAY PETERS & CO Chartered Certified Accountsnts 8 Domingo Street Clerkenwell London EC1Y OTA
st Lazarus Community of East London Trust Financial Statements Year ended 31 December 2024 Pagas Trustees, annual report 1to3 Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 7t014 The followlng pages do not fomi part of the financial statements Detailed statement of financial activities 16
st Lazarus Community of East London Trust Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Roference and admlnlstratlve details Regi8t8red charlty name St Lazarus Communty of East London Trust Charlty roglstratlon numbor 1053102 Prlnclpal offi St. Lazarus and SL Andrews Church Rutland Road Forest Gate London E7 8PH The trust••8 His Eminence Archbishop Nikitas Lioulias Mr Alecos Pelopidas Mr Angelos Zacharia Mr Panayiotis Adamou Phokou Mr Alecos Lysandrou Mr Panayiob's Kourtis Independent examlner David Kay Chartered Certffied Accountants 8 Domingo Street Clerkenwell London EC1Y OTA
St Lazarus Community of East London Trust Trustees. Annual Report (continuedj Year ended 31 December 2024 Structure, governance and management Legal and Administrative The charity is controlled by a deed of trust which sets the basis on which trustees operate and control the trust.The trust is an unincorporated entity and govemed by the trust deed. Governance The trust is controlled and operated in the interest of the local community by elected trustees.The trustees are appointed for a trNelve month period after which they may be re-elected. The trustees meet on a quarterly basis to deliberate on the current issues and make appropriate and majority decisions concerning the charity's finanaal and social affairs. Risk Management The trustees have a duty to safeguard the chanty's assets and to ensure that the charity has adequate funds to meet all its current and future commitments. The trustees ensure that the current procedures in place are able to meet the above duties and are reviewed regularly to ensure they remain effective and relevant. Objectlves and actlvltl•• General Objectives The objects of the charity are to advance the Greek Orthodox faith,to advan public education,to relieve poverty,sickness and distress and to provide facilities in the interest of the social welfare for recreation and leisure time actj'vities with the aim of improving the condth'on of life for the inhabitants of the London Borough of Newham and its environs. Welcoming and Hospitalty The charity has actively encouraged and implemented a policy which welcomes everybody regardless of ethnicity and social background who wish to worship and actively participate in the charity's current and future activities. Fund raising activrties A sponsored walk held annually whera members of the congregation and other volunt8ars participate. An annual fete is held at the church premises where everybody is invited to pa'¢ipate. Members of the committee and those from St. Martha and Maria Charity Organisation ppare food and assorted sweets which is sold to guests. Supporters and other members of the public are invited to sponsor those participating. Other activities under consideration are sponsored five side football tournaments and annual day trips.The Committee is open and welcomes new ideas to improve and increase fund raising. Improving communication The charity is hoping to built a website which it hopes will improve communication betreen the charity and the public and to better promote the charty's objectives.
St Lazarus Community of East London Trust Trustses, Annual Report (Mntlnu Year ended 31 December 2024 Achlevements and perfomwnce During the Current year the trustees worked to maintsin the focus of the trusys activities as laid out in its objectives. These objectives are the provision of servi$ for the local community, the understanding of Greek Orthodox faith, the teaching and promotion of Greek language, culture and ethos. It also provides support to members of the community in need through the work of the Ladies Auxiliary committee which provides meals to those in need and visits and comforts people in hospitals. Flnanclal revSew Current Results The results for the period are shown on pages 5 to 6 together with the attached notes on pages 7 to 11 in the accounts. The charity has register a net surplus of £43,466 of donations reiVed over expenditure incurred which VRS offset against the charity's unrestricted reserves. Flnanclal In8trumonts The charity has a loan from the Saint Nicholas Educats'onal Trust whith it took out in April 2017 and is paying back in monthly instsllments. The trustees, annual report was approved on 17 November 2025 and sned on behalf of the board of trustees by: Mr Alecos Pelopidas Trustee Mr Angel¢)s Zacharia Trustee
St Lazarus Community of East London Trust Independent Examinerfs Report to the Trustses of St Lazarus Community of East London Trust Year ended 31 December 2024 I report to the trustees on my examinab'on of the financial Statents of St lazarus Community of East London Trust ('the charity,) for the year ended 31 December 2024. Responslblllties and basis of rnport As the trustees of the chanty you are responsible for the preparation of the financial statements in accordance with the quIrernents of the Charities Act 2011 {'the ACY). I report in respect of my examination of the charty's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act Independent examlnerfs Statement I have completed my examination. I confirm that no material matters have come to ry attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the financial statements do not accord with those records; or the financial statements do not comply with the applble 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 fai¢ view which is not a matter consbdered as part of an independent examination. have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. David Kay Chartered Certified Accountants Independent Examiner 8 Domingo Street Clerkenwell London EC1Y OTA 17 November 2025
St Lazarus Community of East London Trust ststement of Financial Activities Year ended 31 December 2024 2024 Unrestricted fijnds Total funds Totsl funds 2023 Noto Income and endowments Donations and legacies Other trading activits'es Investment income 139,041 4,933 758 139,041 4,933 758 91,640 3,177 607 Total income 144,732 144,732 95,424 Expendlture Expenditure on raising funds.. Costs of raising donations and legacies Total oxponditurn 101,266 101,266 101,266 101,266 89,305 89,305 Net Incomo over expendttur• for the year 43.466 43.466 6,119 Other recogni8ed galns and 106888 Other gainsl(losses) user defined 1 Not movomont In lund8 200 200 43,666 43,666 6,119 Reconclliatlon ol fund8 Total funds brought foThvard Total funds carrtod lorward 1,782,434 1,826.100 1.782,434 1,826,100 1,776,315 1,782,434 The ststement of financial activrties includes all gains and losses recognised in the year. All income and expenditure derive from continuing athrties. The noteg on pages 7 to 14 form part of these financlal statements.
St Lazarus Community of East London Trust ststement of Financial Position 31 December 2024 2024 2023 Note Flxad assets Tangible fixed assets Heritage assets 12 1,601,513 13 169,020 1,563,747 169,020 1,770,533 1,732.767 Current assets Stocks Cash at bank and in hand 14 5,000 83,466 88,466 5,500 73,267 78,767 Credltorn: amounts falllng duo wlthln one year Net curront assets 16 6,999 3,200 81,467 1,852.000 75,567 1,808,334 Total assets l•ss current Ilabllftle8 Credltorn: amounts falllng duo after more than one year Net assets 16 25,900 25,900 1.826,100 1,782,434 Fund8 of the charfty Unrestricted funds.. Revaluakn'on reserve Other unrestricted income funds 161.600 1,664,500 1,826,100 17 1,826,100 161,600 1,620,834 1,782,434 1,782,434 Total unre8trlcted fund8 Total charlty funds These financial ststements were approved by the board of trustees and authorised for issue on 17 November 2025. and are signed on behalf of the board by: Mr Alecos Pelopidas Trustee Mr Angelos Zacharia Trustee The note8 on pages 7 to 14 fomi part of these financial statements.
St Lazarus Community of East London Trust Notes to the Financial Statements Year ended 31 December 2024 Genernl Infonnatlon The charity is a public benefit enb'ty and a registered charity in England and Wales and is unincorporated. The address of the principal office is SL Lazarus and St Andrews Church, Rutland Road, Forest Gate, London, E7 8PH. Statement of compliance These financial ststements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng pollcles Basls of proparation The financial statements have been prepared on the historical cost basis, as modified by the revaluath?n of certain financial assets and liabilities and investment properties measured at fair value through income or expendrture. The financial ststements are prepared in sterling, which is the funth'onal currency of the entity. Golng concern There are no rnaterial uncertainties about the charity's ability to conts'nue. Judgoments and key SOU68 ol e8tlmatlon uncertalnty Judgements 1. The carrying values of propety, plant and equipment and intsngible assets are assessed annually or more frequently if warrantsd by a change in circumstance. If it is determined that the carrying values of assets cannot be recovered, the ungovernable amounts are charged against current earnings. Estimation Uncertainty The useful life of key assets are estimated having regard to such factors as asset maintenance and usage. The useful lives of key assets are reviewed annually. Fund accountlng Unrestricted funds are available for use at the discrets'on of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eanTtarked by the trustees for particular future project or commitment. Restricted funds are subjected to Strictl0nS on their expenditure declared by the donor or through the temis of an appeal, and fall into one of two sutK1a&.' restricted income funds or endowment funds.
St Lazarus Community of East London Trust Notss to the Financial Ststsments (contthued) Year ended 31 December 2024 Accountlng pollcles (¢onllnu In¢omlng r•sourco8 All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic beneffts associated with the transaction will flow to Ihe charity and the amount can be reliably measured. The following specifsc policies are applied to pa'Cular categories of income: income from donations or grants is recognised when the is evidence of entitlement to the gfft. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in whtch case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amunts are included for the contributs'on of general volunteers. income from contracts for the supply of services is recognised with the delNery of the contracted service. This is classffied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspen( in which case rt may be regarded as restncted. Resou8$ oxpondod Expenditure is recognised on an accruals basis as 8 liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activits'es to which it relates: expenditure on raising funds includes the costs of all fundraising athities, events, non<haritable trading activities, and the sale of donated goods. expendrture on charitsble activities indudes all costs incurred by a chaiity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs lating to the govemance of the charity apports'oned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charty nor part of ts expenditure on charitable activtties. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activty. Shared costs are apportioned befvieen the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are inÉtially recorded at cost, and subsequentty stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluab'on less any subsequent accumulated depwFatFon and subsequent accumulated impaiment losses.
St Lazarus Community of East London Trust Notss to the Financial Statements (conthu6dJ Year ended 31 December 2024 Accountlng policies (condnuod) Tanglble assets (conllnu• An increase in the carrying amount of an asset as a resu of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activrties. A decrease in the carrying amount of an asset as a resutt of revaluation. is recognised in other recognised gains and losses, eXpt to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activitses. Deproclatlon Depreciation is calculated so as to write off the cost or valuation of an asset less its residual value, over the usefvl economic life of that asset as follows.. Freehold Land £1,250,000 not depreciated, Building £300,000 is depreciated at 1 % 5% reducing balance Fixtures and fittings Herltage assets The charity holds herrtage assets,which are tsngible fixed assets of historical,artistic or scientific importance that are held to advance prevention and coservation objectives of the charity. Newly purchased herrtage assets are capitalised and included at cost including any incidental expenses of acquisition. Vthere heritage assets were acquired in past accounting periods and not capitalised. tt can be difficult or costly to attribute a cost or value to them. In such cases. these assets are excluded from the balance sheet rf reliable cost InfOktiOn is not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstructs'on or analysis of past accounting records or in valuation, which are onerous compared with the additional benefit derived by users of the accounts in assessing the trustees stewardship of the assets. The very long expected lives of heritage assets. due to their nature, value and need to be protected and preserved means that depreciats'on is not material and is,therefore,not provided. Impalrment of flxed a880ts A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Wiere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prtor impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset. an ests'mate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generats'ng unit is the smallest identifiable group of assets that includes the asset and generates cash infiows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combinats"on, irrespects've of whether other assets or liabilities of the charity are assigned to those units.
St Lazarus Community of East London Trust Notss to tha Financial Ststements (c(Mthu Year ended 31 December 2024 Accounting polici•s {¢ondnuedJ Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present locab'on and condrtion. Financial instruments A financial asset or a financial liability is recognised onty when the chaiity becomes a paty to the contractual provisions of the instrumenL Basic financial instruments are In'allY recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequentty measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicty traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaiment Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nornial business temis or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, wth any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relakn'onship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each porting date. If there is objective evidence of impainnent, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments gardleSS of sIgnffiCan, and other financial assets that are indtvidualty significant, these are assessed individually for impairment. Other financial assets are either assessed individualty or grouped on the basis of similar credtt risk characteristics. Any reversals of impaimient are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that eXedS what the carrying amount would have been had the impairment not previously bn recOgned. 10
st Lazarus Community of East London Trust Notss to the Financial Ststements (nlUe0) Year ended 31 December 2024 Donations and legacles Unrestricted Total Funds unstrICted Total Funds Funds 2024 Funds 2023 Donations Congregation contribution & donations 127.822 127,822 75,950 75,950 Legacies Legacies -St.Martha & Maria Charty Organisation 11,219 139,041 11,219 139.041 15,690 15,690 91,640 91,640 Other tradlng activltle8 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Parking Income 4,933 4,933 3,177 3,177 Inve8tm•nt Income Unrestricted Total Fund8 Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank interest receivable 758 758 607 607 Costs of ralslng donatlons and legacl Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Donats'ons 101,266 101,266 89,305 89,305 N•t InGom• over expendlture for the year Net income over expendrture for the year is stated after chargingl(crediting).' 2024 2023 Depreciation of tangible fixed assets 4,234 4,256 Independent examlnatlon f$ 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 1,800 1,260 11
St Lazarus Community of East London Trust Notes to the Financial Statements Year ended 31 December 2024 10. S costs The total staff costs and employee beneffts for the reportj'ng period are analysed as follows." 2024 2023 Wages and salaries 32,309 10,850 The average head count of employees during the year was 1 {2023: 2). No employee received employee benefits of mre than £60,000 during the year (2023.. Nil). 11. Trustee rnmunoration and exponses No remuneration, expenses or other benefits from the charity were received by the trustees. 12. Tanglblè flxed a88ets Freehold Fixtures and propety fittings Total C08t At 1 January 2024 Additions 1,550,000 42,000 1.592,000 90,713 1,640,713 42,000 At 31 December 2024 90,713 1,682,713 Depreclatlon At 1 January 2024 Charge for the year At 31 Dacamber 2024 11,821 2,879 65,145 1,355 76,966 4,234 14,700 66,500 81,200 Carrylng amount At 31 December 2024 1,577,300 1,538,179 24,213 25,568 1,601,513 At 31 Dernber 2023 1,563,747 13. Herltage a88ets The heritage assets are the sculptures, icons and other religious omaments made from precious metsls that are utilised in the church. These items are acquired by the tnjstees and are looked after and maintained by a group of 8 volunteers. 12
St Lazarus Community of East London Trust Notes to the Financial Ststements (condnufjd) Year ended 31 December 2024 13. Heritago assots (condnued) Heritage asset I Cost or valuatlon At 1 January 2024 and 31 December 2024 Accumulated depreclatlon At l January 2024 and 31 De¢embor 2024 Carrying amount At 31 December 2024 169,020 169,020 At 31 December 2023 169,020 The statues, icons and omaments have all been reported at cost 14. Stocks 2024 2023 Raw materials and consumables 5,000 5,500 16. Credftorn: amounts falllng du• wlthln on• year 2024 2023 Accwals and deferred income Social security and other taxes Shares classed as financial liabilities 1,800 2,200 2,999 6,999 3,200 3,200 18. crltOrs. amounts lalllng duo aftor more than one year 2024 2023 Bank loan- Saint Nicholas EducationalTrust 25,900 25,900 13
St Lazarus Community of East London Trust Notes to the Financial Statements {contthu Year ended 31 December 2024 17. Anatysls of charltable funds Unrestrlcted funds At Gains and 31 December losses 2024 At 1 January 2024 Income Expendrture General funds Revaluation reserve 1.620,834 161,600 144,732 (101.266) 200 1,664,500 161,600 1.826,100 1,782,434 144,732 {101.266) 200 At Gains and 31 December losses 2023 At 1 January 2023 InconE Expenditure General funds Revaluation reseprfe 1,614,715 161,600 1,776,315 95,424 (89,305) 1,620,834 161,600 95,424 (89,305) 1,782,434 18. Anatysls of not a880ts botwoen fvnd• Unrestricted Total Fund8 Funds 2024 Tangible fixed assets Heritsge assets Net a888ts 1,601,513 169,020 1,770,533 1,601,513 169,020 1,770,533 Unrestricted Total Funds Funds 2023 Tangible fixed assets Heritage assets Nèt a88•ts 1,563,747 169,020 1.732,767 1,563,747 169,020 1,732,767 19. Flnanclal Instruments The carying amount for each category of financial instrument is as follows.. 2024 2023 Flnancial liabilitie8 measured at falr value through Income and expenditure Financial liabilities measured at fair value through income and expenditure 25,900 25,900 The loan will be derecognised once it has been paid off in full. The current carrying value of the loan to Saint Nicholas Educational Trust is £25,9Crf). 14