**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** **----- Start of picture text -----**
Page
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
**----- End of picture text -----**
**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... Page 5 **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... Page 6 **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... Page 7 **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... Page 8 **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... Page 9 **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... Page 10 **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. Page 11 **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 Page 12 **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 Page 13