REGISTERED CHARITY NUMBER: 1078008
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
LARKOS & PARTNERS 128 STOKE LANE WESTBURY ON TRYM BRISTOL BS9 3RJ
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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Report of the Trustees 1 to 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 11
Detailed Statement of Financial Activities 12 to 13
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Charity are to promote the Greek Orthodox Christian Faith and the Greek language and culture in the area of Cardiff and South Wales.
The principal sources of income for the Charity are donations from the community members, collections during church services and from fund raising events and social functions.
The primary expenditure of the Charity is the resident priest's salary, the maintenance and upkeep of the church buildings and the community centre, the provision of regular church services and the support of the philanthropic and charitable activities.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Trustees ensured that regular church services took place during the course of the year and on significant dates of the church calendar. The aim is to keep these services in the future and support charitable activities and causes in Cardiff and its environment.
FINANCIAL REVIEW
Reserves policy
The Trustees are satisfied with the financial position of the Charity as at 31st March 2025 and the Surplus of Funds generated from operations to the level of £20,074 ( 2024 - £52,745) which will be added to the Reserves and utilised for future operations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The Trustees are responsible for managing and protecting the Charity and its assets, ensuring that all operations are within the Charities Commission legislation. They meet at least once a year and more frequent if the need arises.
The Ladies Philanthropic Committee oversee the Philanthropic and Charitable activities of the Charity as well as organising cultural and recreation events for the benefit of the community as a whole.
The Church Committee undertakes all the day to day operations of the Charity, including the church services, maintenance of the church and community centre / vicarage buildings, fund raising and other recreation activities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1078008
Principal address
Greek Orthodox Church Greek Church Street Cardiff CF10 5HA
Trustees
Archbishop N. Lioulias Mr P. Yiacoumi Mr D. M. C. Asprou Mr A. Attard Mr S. O. Constantinou Mr N. Perdikis
Page 1
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Approved by order of the board of trustees on 16 November 2025 and signed on its behalf by:
Mr N. Perdikis Trustee
Page 2
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Donations Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31/3/25 Unrestricted fund £ 83,585 16,883 33,172 133,640 46,542 67,024 113,566 20,074 1,412,224 1,432,298 |
31/3/24 Total funds £ 107,280 29,642 14,540 151,462 69,670 29,047 98,717 52,745 1,359,479 1,412,224 |
|---|---|---|
The notes form part of these financial statements
Page 3
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
BALANCE SHEET 31 MARCH 2025
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 15 Unrestricted funds TOTAL FUNDS |
31/3/25 Unrestricted fund £ 1,505,851 11,080 1,516,931 23,646 44,974 68,620 (1,748) 66,872 1,580,923 (151,505) 1,432,298 1,432,298 1,432,298 |
31/3/24 Total funds £ 1,507,807 16,148 1,523,955 29,130 33,784 62,914 (1,360) 61,554 1,585,509 (173,285) 1,412,224 1,412,224 1,412,224 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2025 and were signed on its behalf by:
Mr N. Perdikis Trustee
Mr D. M. C. Asprou Trustee
Mr P. Yiacoumi Trustee
The notes form part of these financial statements
Page 4
GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
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.
| Fixtures and fittings | - | 10% on reducing balance |
|---|---|---|
| Computers & Office Equipment | - | 25% on reducing balance |
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.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31/3/25 | 31/3/24 | |
| £ | £ | |
| Fundraising events | 16,883 | 29,642 |
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
3. INVESTMENT INCOME
| Rents received Deposit account interest Share Dividends 4. RAISING FUNDS Raising donations and legacies Staff costs Archdioceses - Diaries, Books Support costs Other trading activities Purchases Hire of Equipment Travelling Candles and Incense Aggregate amounts 5. CHARITABLE ACTIVITIES COSTS Donations |
31/3/25 31/3/24 £ £ 32,025 12,443 711 1,919 436 178 33,172 14,540 31/3/25 31/3/24 £ £ 25,081 25,138 2,751 2,265 - 16,753 27,832 44,156 31/3/25 31/3/24 £ £ 10,175 18,433 165 - 3,402 3,780 4,968 3,301 18,710 25,514 46,542 69,670 Direct Support Costs costs Totals £ £ £ 5,295 61,729 67,024 |
|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31/3/25 | 31/3/24 | |
|---|---|---|
| Priests | 1 | 1 |
| Cleaner | 1 | 1 |
| 2 | 2 |
No employees received emoluments in excess of £60,000.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 107,280 |
| Other trading activities | 29,642 |
| Investment income | 14,540 |
| Total | 151,462 |
| EXPENDITURE ON | |
| Raising funds | 69,670 |
| Charitable activities | |
| Donations | |
| 29,047 | |
| Total | 98,717 |
| NET INCOME | 52,745 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 1,359,479 |
| TOTAL FUNDS CARRIED FORWARD | 1,412,224 |
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. TANGIBLE FIXED ASSETS
| Freehold Plant and property machinery £ £ COST At 1 April 2024 1,298,083 186,031 Additions - - At 31 March 2025 1,298,083 186,031 DEPRECIATION At 1 April 2024 - - Charge for year - - At 31 March 2025 - - NET BOOK VALUE At 31 March 2025 1,298,083 186,031 At 31 March 2024 1,298,083 186,031 10. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2024 and 31 March 2025 PROVISIONS Provision for year NET BOOK VALUE At 31 March 2025 At 31 March 2024 There were no investment assets outside the UK. 11. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Debtors Prepayments |
Fixtures and fittings £ 114,299 462 114,761 90,632 2,412 93,044 21,717 23,667 |
Computers & Office Equipment £ 6,442 - 6,442 6,416 6 6,422 20 26 31/3/25 £ 23,112 534 23,646 |
Totals £ 1,604,855 462 1,605,317 97,048 2,418 99,466 1,505,851 1,507,807 Shares in group undertakings £ 16,148 5,068 11,080 16,148 31/3/24 £ 23,228 5,902 29,130 |
|---|---|---|---|
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals 13. CREDITORS:AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other creditors 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due in more than five years: Repayable by instalments: Bounced Back Loan Kingdom Bank Loan Repayable otherwise than by instalments: Other loans more 5yrs non-instalments 15. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 1,412,224 TOTAL FUNDS 1,412,224 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 133,640 TOTAL FUNDS 133,640 |
31/3/25 £ 68 1,680 1,748 31/3/25 £ 151,505 31/3/25 £ 24,296 127,209 151,505 - Net movement in funds £ 20,074 20,074 Resources expended £ (113,566) (113,566) |
31/3/24 £ 1,360 - 1,360 31/3/24 £ 173,285 31/3/24 £ 28,852 140,000 168,852 4,433 At 31.3.25 £ 1,432,298 1,432,298 Movement in funds £ 20,074 20,074 |
|---|---|---|
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 1,359,479 1,359,479 |
Net movement in funds £ 52,745 52,745 |
At 31.3.24 £ 1,412,224 |
|---|---|---|---|
| 1,412,224 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 151,462 151,462 |
Resources Movement expended in funds £ £ (98,717) 52,745 (98,717) 52,745 |
Resources Movement expended in funds £ £ (98,717) 52,745 (98,717) 52,745 |
|---|---|---|---|
| 52,745 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 1,359,479 1,359,479 |
Net movement in funds £ 72,819 72,819 |
At 31.3.25 £ 1,432,298 |
|---|---|---|---|
| 1,432,298 |
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 £ 285,102 285,102 |
Resources Movement expended in funds £ £ (212,283) 72,819 (212,283) 72,819 |
Resources Movement expended in funds £ £ (212,283) 72,819 (212,283) 72,819 |
|---|---|---|---|
| 72,819 |
continued...
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31/3/25 | 31/3/24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 17,775 | 27,173 |
| Gift aid | 55,131 | 58,588 |
| Subscriptions | 1,690 | 6,180 |
| Church Services | 7,760 | 14,110 |
| Employers Allowance | 1,229 | 1,229 |
| 83,585 | 107,280 | |
| Other trading activities | ||
| Fundraising events | 16,883 | 29,642 |
| Investment income | ||
| Rents received | 32,025 | 12,443 |
| Deposit account interest | 711 | 1,919 |
| Share Dividends | 436 | 178 |
| 33,172 | 14,540 | |
| Total incoming resources | 133,640 | 151,462 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 21,938 | 21,938 |
| Locum Priest and Assistants | 2,790 | 2,445 |
| Pension | 353 | 755 |
| Archdioceses - Diaries, Books | 2,751 | 2,265 |
| 27,832 | 27,403 | |
| Other trading activities | ||
| Event Costs - Purchases | 10,175 | 18,433 |
| Hire of Equipment | 165 | - |
| Travelling | 3,402 | 3,780 |
| Candles and Incense | 4,968 | 3,301 |
| 18,710 | 25,514 | |
| Charitable activities | ||
| Donations | 5,295 | 5,960 |
| Support costs | ||
| Management | ||
| Rates and water | 2,265 | 2,063 |
| Insurance | 6,649 | 6,825 |
| Light and heat | 9,594 | 4,898 |
| Telephone | 802 | 718 |
| Postage and stationery | 378 | 948 |
| Carried forward | 19,688 | 15,452 |
This page does not form part of the statutory financial statements
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GREEK ORTHODOX COMMUNITY OF ST. NICHOLAS CARDIFF
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31/3/25 | 31/3/24 | |
|---|---|---|
| £ | £ | |
| Management | ||
| Brought forward | 19,688 | 15,452 |
| Licences and Subscriptions | 843 | 429 |
| Repairs and Renewals | 15,323 | 9,730 |
| Cleaning and Consumables | 3,269 | 3,722 |
| 39,123 | 29,333 | |
| Other | ||
| Legal and Professional | 5,903 | 1,160 |
| Depreciation | 2,418 | 2,638 |
| 8,321 | 3,798 | |
| Other 2 | ||
| Bank Charges and Interest | 8 | 35 |
| Loan | 9,209 | 6,173 |
| Investment Loss | 5,068 | 501 |
| 14,285 | 6,709 | |
| Total resources expended | 113,566 | 98,717 |
| Net income | 20,074 | 52,745 |
This page does not form part of the statutory financial statements
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