ST MICHAEL AND ST BISHOY COPTIC
ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 5th APRIL 2023
Registered Charity No: 1069010 Northdown Road, Margate, Kent CT9 2RD, United Kingdom
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 5th APRIL 2023
CONTENTS
Page
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1 Charity Information
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2 Trustees Report
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3 Statement of Financial Activities
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4 Balance Sheet
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5 Expenditure
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6 Schedule of Fixed Assets
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7 Notes
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8 Independent Examiners Report to the Trustees
Page 1
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 5th APRIL 2023
CHARITY INFORMATION
TRUSTEES
1 His Grace Bishop Antony St George & St Athanasius Church 40 Kingston Drive Whiteley Bay NE26 1JJ 2 Dr Wafik Morcos (Secretary) St Michael & St Bishoy Coptic Orthodox Church Northdown Road, Margate Kent CT9 2RD 3 Mr Hany Fouad Habeeb (Treasurer) St Michael & St Bishoy Coptic Orthodox Church Northdown Road, Margate Kent CT9 2RD
BANKERS
NatWest Bank plc HSBC Bank plc
Page 2
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
TRUSTEE'S REPORT FOR THE YEAR ENDED 5th April 2023
The Trustee's present their report and the financial statements for the year ended 5th April 2023
TRUSTEES
The Trustees named on Page 1 have served throughout the period. Appointment of Trustees is governed by the Trust Deed of the Charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising though resignation or death of existing Trustees.
INVESTMENT POWERS
The trustees are authorised to make prudent decisions on investments using the general funds.
CONSTITUTION, OBJECTS AND POLICIES
The Charitable Trust is constituted by the Trust Deed and its objects are to provide worship for believers of the Coptic Orthodox faith.
The policy of the Charitable Trust is to provide additional finance in order that its objects stated above might be will be further achieved.
DEVELOPMENT ACTIVITIES AND ACHIEVEMENTS
The trustees consider the performance of the charity for this period to be most satisfactory. The trust would not be able to provide such a wide service to our beneficiaries without the continued support of a large number of willing members.
FINANCIAL REVIEW
The financial position of the charity is considered most satisfactory for this period.
STATEMENT OF TRUSTEES RESPONSIBILITIES:
The trustees are required under the constitution of the charity to prepare statements for each financial period which give a true and fair view of the state of affairs of the charity and of its results for that period. In preparing those financial statements the Trustee's are required to:
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-select suitable accounting policies and then apply them consistently.
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-make judgments and estimates that are reasonable and prudent.
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-prepare the financial statements on the going concern basis unless
it is inappropriate to presume that the 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 charity.
They are also responsible for safeguarding the company's assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVAL
This report was approved by the trustees on the 12th January 2024 and signed on their behalf.
Dr W MORCOS Trustee
Page 3
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
STATEMENT OF FINANCIAL ACTIVITIES
| Income and Expenditure: £ Donations and Grants 93,724 Investment Income 210 TOTAL INCOMING RESOURCES 93,934 Resources Used: Direct Charity Expenditure Church Running Costs including Refurbishment 33,642 Other Expenses Management and Administration Expenses 26,699 TOTAL RESOURCES USED 60,341 Net Movement in Funds for the Period 33,593 Fund Balance B/f 346,337 Fund Balance C/f 379,930 |
LAST YEAR £ 65,910 11 65,921 7,993 26,603 34,596 31,325 315,012 346,337 |
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NOTE: HMRC Gift Aid of £12,430 for 2021/22 was received after 5th April 2022 and will be included in the 2022-23 Accounts.
Page 4
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
BALANCE SHEET AS AT 5th April 2023
| FIXED ASSETS: Tangible Assets CURRENT ASSETS: Cash and Bank TOTAL NET ASSETS Represented by: Unrestricted Fund Balance TOTAL |
£ 354,671 25,259 379,930 379,930 379,930 |
LAST YEAR £ 166,247 180,090 346,337 346,337 346,337 |
LAST YEAR £ 166,247 180,090 346,337 346,337 346,337 |
|---|---|---|---|
| 346,337 346,337 |
APPROVAL
The financial statements were approved by the trustees and signed on their behalf.
Dr W MORCOS Trustee
Date: 12th January 2024
Page 5
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
EXPENDITURE FOR THE PERIOD
| £ DIRECT CHARITABLE EXPENDITURE Church Water Rates 417 Church Heat & Light 9,127 Church Repairs & Refurbishment 17,833 Donations to other organisations 4,000 Church Expenses 2,265 33,642 ADMINISTRATION EXPENSES Clergy Living Expenses 9,600 House Repairs 95 House Water Rates 374 House Heat & Light 1,693 Council Tax 965 Premises Insurance 2,742 Sundry Expenses 1,171 TV Licence 159 Travel 4,601 Motor Vehicle-Lease 3,336 Administration Expenses 1,810 Bank Charges 62 Depreciation 91 26,699 ESTABLISHMENT EXPENDITURE 60,341 |
LAST YEAR £ 515 2,354 396 3,000 1,728 7,993 9,560 95 274 965 884 2,551 819 159 5,396 3,587 2,181 21 111 26,603 34,596 |
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Page 6
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
SCHEDULE OF FIXED ASSETS
| Freehold Property Furniture & Fixtures £ £ COST As at 06/04/2022 165,741 12,871 Additions 188,515 0 Disposals 0 0 As at 06/04/2023 354,256 12,871 DEPRECIATION As at 06/04/2022 0 12,365 Depreciation for the year 0 91 As at 05/04/2023 0 12,456 NET BOOK VALUE As at 05/04/2023 354,256 415 |
TOTAL £ 178,612 188,515 0 367,127 12,365 91 12,456 354,671 |
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Page 7
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
NOTES TO THE ACCOUNTS
ACCOUNTING POLICIES
Basis of Preparation
The Accounts are prepared under the historical cost convention and include the results of the charities activities.
The Accounts have been prepared in accordance with the Statement of Recommended Practice (SORP) for Charity accounts
Depreciation
Tangible Assets for the use by the charity are stated at cost less depreciation.
Depreciation is provided at the following rates
Land & Buildings NIL Fixtures & Fittings 20% on reducing Balance Plant & Equipment 20% on reducing Balance
Income
Voluntary income and donations are accounted for as received by the charity.
Page 8
ST MICHAEL AND ST BISHOY COPTIC ORTHODOX CHURCH
ANNUAL REPORT AND ACCOUNTS
YEAR ENDING 5th APRIL 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report on the Accounts of the Charity for the year ended 5th April 2023 which are set out on pages 3 to 7 of the Annual Report and Accounts.
Respective Responsibilities of Trustees and Examiner
As trustees you are responsible for the preparation of the Accounts. You consider that the audit requirements of section 43 (2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commission under section 43 (7)b of the act, whether particular matters have come to my attention.
Basis of the Independent Examiners' Report
My examination was carried out in accordance with the General Directives given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts 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 I do not express an audit opinion on the view given by the Accounts.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention.
1) which gives me reasonable cause to believe that in any material respect the requirements
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a) to keep accounting records in accordance with section 41 of the Act and
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b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met.
2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts prepared.
Francis Anandappa FCMA, CGMA
Chartered Management Accountant 165 Ashford Road, Bearsted, KENT ME14 4NE.
Date: 12th January 2024