REGISTERED CHARITY NUMBER: 01061959
Report of the Trustees and Audited Financial Statements for the Year Ended 31 December 2021
for
ST. ANTONY COPTIC ORTHODOX CHURCH
Botros & Co Chartered Accountants
4 Northwest Business Park
Servia Hill Leeds West Yorkshire LS6 2QH
ST. ANTONY COPTIC ORTHODOX CHURCH
Contents of the Financial Statements for the Year Ended 31 December 2021
----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Report of the Independent Auditors 3 to 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12
Detailed Statement of Financial Activities 13
----- End of picture text -----
ST. ANTONY COPTIC ORTHODOX CHURCH
Report of the Trustees for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
(England and Wales)
Registered Charity number 01061959
Registered office
St.Leonard's Road Eastwood Rotheram South Yorkshire S65 1PA
Trustees
H G Bishop Antony Dr H Lotfallah Dr E A Girgis Dr D Yousseff
Company Secretary Dr H Lotfallah
Auditors
Botros & Co Chartered Accountants 4 Northwest Business Park Servia Hill Leeds West Yorkshire LS6 2QH
Bankers
Barclays Bank plc P O Box 20 27 Church Street Barnsley South Yorkshire S70 2AJ
Page 1
ST. ANTONY COPTIC ORTHODOX CHURCH
Report of the Trustees for the Year Ended 31 December 2021
REFERENCE AND ADMINISTRATIVE DETAILS Committee
Rev.Fr.Moussa Ghattas Chairman Dr Hany Lotfallah Secretary Dr Dawood Youssif Treasurer Dr Evette Girgis Dr Nabil Salama Dr Magdi Moussa Dr Emad Gabrawi Dr Isis Sidhom Dr Baher Bassilious Dr Magdy El-Khanagry Mr Amir Selim
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of St. Antony Coptic Orthodox Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Botros & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Charity secretary Dr H Lotfallah - Secretary
Page 2
Report of the Independent Auditors to the Trustees of St. Antony Coptic Orthodox Church
Opinion
We have audited the financial statements of St. Antony Coptic Orthodox Church (the 'charitable company') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
the charitable company has not kept adequate accounting records; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 3
Report of the Independent Auditors to the Trustees of St. Antony Coptic Orthodox Church
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach was as follows:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to FRS 102 for SMEs; Laws and regulations related with Charities Act 2011.
(ISA (UK) 250 Section 'A Consideration of Laws and Regulations in an Audit of Financial Statements' paragraph 6).
We assessed the risks of material misstatement in respect of fraud as follows:-
-
Analytical procedures used to identify any unusual or unexpected relationships.
-
Identify particular areas that were susceptible to misstatement as part of our fraud discussion management.
-
Identify any fraud risk factors in its discussion of related party relationships and transactions.
Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above; we corroborated our enquiries through review of records with HMRC; We considered the risk of fraud through management override and, in response, we incorporated testing of some transactions into our audit approach and tested entries throughout the year.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 4
Report of the Independent Auditors to the Trustees of St. Antony Coptic Orthodox Church
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Botros & Co Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 4 Northwest Business Park Servia Hill Leeds West Yorkshire LS6 2QH
14 September 2022
Page 5
ST. ANTONY COPTIC ORTHODOX CHURCH
Statement of Financial Activities for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 |
31.12.21 Unrestricted fund £ 119,007 2 |
31.12.21 Unrestricted fund £ 119,007 2 |
31.12.20 Total funds £ 136,200 12 |
|---|---|---|---|
| Total EXPENDITURE ON Raising funds 3 Other |
119,009 70,710 1,260 |
136,212 81,733 2,225 |
|
| Total | 71,970 | 83,958 | |
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
47,039 569,269 |
52,254 517,015 |
|
| TOTAL FUNDS CARRIED FORWARD | 616,308 | 569,269 | |
The notes form part of these financial statements
Page 6
ST. ANTONY COPTIC ORTHODOX CHURCH
Balance Sheet 31 December 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.12.21 Unrestricted fund £ 481,994 53,216 83,227 136,443 (2,129) 134,314 616,308 616,308 616,308 616,308 |
31.12.20 Total funds £ 483,115 53,216 37,480 90,696 (4,542) 86,154 569,269 569,269 |
|---|---|---|
| 569,269 569,269 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. H Lotfallah - Trustee
The notes form part of these financial statements
Page 7
ST. ANTONY COPTIC ORTHODOX CHURCH
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
----- Start of picture text -----
|||
|---|---|
|Improvements to property|- 2% on cost|
|Plant and machinery|- 15% on reducing balance|
|Fixtures and fittings|- 15% on reducing balance|
|Motor vehicles|- 25% on reducing balance|
----- End of picture text -----
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
----- Start of picture text -----
||||
|---|---|---|
|31.12.21|31.12.20|
|£|£|
|Deposit account interest|2|12|
----- End of picture text -----
continued...
Page 8
ST. ANTONY COPTIC ORTHODOX CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. RAISING FUNDS
4.
Investment management costs
House council & water charges Telephone Clergy living costs House light & heat Motor expenses Travelling expenses Sundry |
31.12.21 31.12.20 £ £ 3,626 248 597 888 4,567 2,563 1,317 1,282 420 380 585 540 655 589 |
|---|---|
| 11,767 6,490 |
|
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.12.21 31.12.20 £ £ 1,121 1,416 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Priest & administrative staff | 31.12.21 31.12.20 1 1 |
|---|---|
No employees received emoluments in excess of £60,000.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income |
Unrestricted fund £ 136,200 12 |
|
| Total EXPENDITURE ON Raising funds Other |
136,212 81,733 2,225 |
continued...
Page 9
ST. ANTONY COPTIC ORTHODOX CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ |
Unrestricted fund £ |
||
|---|---|---|---|
| Total | 83,958 | ||
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
52,254 517,015 |
||
| TOTAL FUNDS CARRIED FORWARD | 569,269 | ||
| 8. TANGIBLE FIXED ASSETS COST At 1 January 2021 and 31 December 2021 |
Improvements Freehold to property property £ £ 444,514 33,467 |
Plant and machinery £ 11,322 |
|
| DEPRECIATION At 1 January 2021 Charge for year |
- 669 - - |
8,945 357 |
|
| At 31 December 2021 | - 669 |
9,302 | |
| NET BOOK VALUE At 31 December 2021 |
444,514 32,798 |
2,020 | |
| At 31 December 2020 | 444,514 32,798 |
2,377 | |
| COST At 1 January 2021 and 31 December 2021 |
Fixtures and Motor fittings vehicles £ £ 7,803 11,700 |
Totals £ 508,806 |
|
| DEPRECIATION At 1 January 2021 Charge for year |
6,877 9,200 139 625 |
25,691 1,121 |
|
| At 31 December 2021 | 7,016 9,825 |
26,812 | |
| NET BOOK VALUE At 31 December 2021 |
787 1,875 |
481,994 | |
| At 31 December 2020 | 926 2,500 |
483,115 | |
continued...
Page 10
ST. ANTONY COPTIC ORTHODOX CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
----- Start of picture text -----
9. DEBTORS
31.12.21 31.12.20
£ £
Amounts falling due within one year:
Income tax recoverable 3,216 3,216
Amounts falling due after more than one year:
Sundry debtors 50,000 50,000
Aggregate amounts 53,216 53,216
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Social security and other taxes 1,560 4,351
Pension payable 569 191
2,129 4,542
11. MOVEMENT IN FUNDS
Net
movement At
At 1.1.21 in funds 31.12.21
£ £ £
Unrestricted funds
General fund 569,269 47,039 616,308
TOTAL FUNDS 569,269 47,039 616,308
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 119,009 (71,970) 47,039
TOTAL FUNDS 119,009 (71,970) 47,039
Comparatives for movement in funds
Net
movement At
At 1.1.20 in funds 31.12.20
£ £ £
Unrestricted funds
General fund 517,015 52,254 569,269
TOTAL FUNDS 517,015 52,254 569,269
----- End of picture text -----
continued...
Page 11
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
ST. ANTONY COPTIC ORTHODOX CHURCH
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 136,212 136,212 |
Resources Movement expended in funds £ £ (83,958) 52,254 (83,958) 52,254 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 517,015 517,015 |
Net movement in funds £ 99,293 99,293 |
At 31.12.21 £ 616,308 616,308 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 255,221 255,221 |
Resources Movement expended in funds £ £ (155,928) 99,293 (155,928) 99,293 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 12
ST. ANTONY COPTIC ORTHODOX CHURCH
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest |
31.12.21 31.12.20 £ £ 119,007 136,200 2 12 |
|---|---|
| Total incoming resources EXPENDITURE Raising donations and legacies Salaries Pensions Church water charges Church light & heat Church activity costs Church repairs & renewals |
119,009 136,212 43,191 43,175 657 984 512 646 5,156 7,137 5,600 6,051 3,827 17,250 |
| Investment management costs House council & water charges Telephone Clergy living costs House light & heat Motor expenses Travelling expenses Sundry |
58,943 75,243 3,626 248 597 888 4,567 2,563 1,317 1,282 420 380 585 540 655 589 |
| Other Plant and machinery Fixtures and fittings Motor vehicles Bank loan interest Bank charges |
11,767 6,490 357 419 139 163 625 834 - 809 139 - |
| 1,260 2,225 |
|
| Total resources expended | 71,970 83,958 |
| Net income | 47,039 52,254 |
This page does not form part of the statutory financial statements
Page 13