**Charity number: 1087910**
## **GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CONTENTS**
||Page|
|---|---|
|Reference and administrative details|1|
|Trustees' report|2|
|Independent examiner's report|4|
|Receipts and payments|5-6|
|Statement of assets|7|
|Analysis of unds|7|
|Notes|8|
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
**REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Trustees**
Mr N Moore (President) Mr A Stojanovic (Vice-president) Mr S Aze (Secretary) Mr A Pavel (Treasurer) Mr L Thomas Mr W Morris Dr D Lewis Ms V Davies Ms E Maoudis Ms E Morris Mr F Nicolaou Ms D Moldovan
## **Charity registered number**
1087910
## **Principal office**
34 Old Rose Drive, Sutton Grange, Shrewsbury, SY2 6FJ
## **Accountants**
WR Partners, Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG
1
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees present their annual report together with the financial statements of Greek Orthodox Community of the 318 Holy Fathers of Nicea (the charity) for the year ended 31 December 2022.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. Constitution**
The charity was constituted by Deed on 14 May 2001 and is registered with the Charity Commission under charity number 1087910.
## **b. Method of appointment or election of Trustees**
The power of appointing new trustees hereof shall be vested in the surviving or continuing trustees for the time being (excluding any retiring trustees).
## **c. Organisational structure and decision making**
The affairs of the charity are administered by its community board, which meets at least bi-monthly and which is composed of not less than 8 Greek Orthodox Christians. The Archdiocese may, if it wishes, appoint up to 4 more, bringing the total to 12.
## **d. Risk management**
The trustees have examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to mitigate the charity's exposure to the major risks identified.
## **OBJECTIVES AND ACTIVITIES**
## **a. Policies and objectives**
The principal object of the charity is "by such means as are charitable" to promote the Greek Orthodox faith to advance public education and to relieve poverty, sickness and distress and to provide facilities in the interests of social welfare for recreation and leisure time activities with the object of improving the conditions of life for the inhabitants of the County of Shropshire and it environs.
## **b. Activities for achieving objectives**
The Trustees of the charity are aware of the Charity Commission's revised guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the charity.
2
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **b. Review of activities**
The year started unfortunately with the great sadness as our orthodox brothers in the east Europe have been engulfed in an atrocious war. Our community and the board members felt the need to do what we can to help those in need. We have sent donations to Ukraine as well as some members of our community helped some Ukrainian families with accommodation and helped them to integrate into their new lives.
Educational we have been running with success the Varangian club (every 3rd Sunday of the month). In September at the restart of the school year we have registered 29 children attending the club which is very encouraging for our future generation growth.
During the 2022 we have received 19 new people into Orthodoxy which shows a great interest in orthodox faith in Shrewsbury area (Shropshire).
The board members as well as the community have been involved with detailing and drawing up a project into how extend the church to accommodate the growth and interest in our faith and most important to preserve it for the years coming.
We can note the most important event of 2022 was the ordination of Father Deacon Panteleimon to priesthood on the 11thSeptember 2022. Growing as a child into the orthodox faith he fulfilled God’s will and became Father Panteleimon. The ordination was a great success and was presided by His Eminence Archbishop Nikkitas of Great Britain and Thyateira. Bishop Mark from the Roman Catholic Cathedral attended the event. His Eminence left “full of peace and grace” and sends his good wishes and is very hopeful for the future of our church.
## **c. Investment policy and performance**
In additional to the aim to retain a prudent amount in reserves each year, the charity's funds have generally been required to be spent in the short-term. We are, however, now planning for the medium to long term when major building work will be needed.
3
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
## **a. Reserves policy**
It is the aim of the trustees to maintain free reserves at a level equivalent to a minimum of three months unrestricted fund expenditure. It is deemed that this level is required due to the charity objectives.
Free reserves at 31 December 2022 were £39,080 (2021: £26,139). Total funds stood at £39,257 at year end.
## **PLANS FOR THE FUTURE**
The land adjacent to the church has been purchased by the sister charity SOCAF, that will cooperate with the Community in future development plans.
The Greek Orthodox Community of the 318 Holy Fathers of Nicea charity will be used to continue to run the church and to help the community.
This report was approved by the Trustees and signed on their behalf by:
Trustee: Adrian Pavel Date:
4
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Independent Examiner's Report to the Trustees of**
I report on the financial statements of the charity for the year ended 31 December 2022 which are set out on pages 5 to 8.
This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 examiner's statement**
I have completed my examination. I confirm that no material matters have come to my 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 1 Act; or 2 the accounts do not accord with those records.
I have no concerns 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 understanding of the accounts to be reached.
## **Tim Lunt BA FCCA MIRPM**
## **WR Partners**
Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Dated: 24/05/2023
5
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Receipts**
|Candles
Special collections
**Fundraising events**
**Book Stall**
**Charitable activity**
**Tax Reclaimed**
**TOTAL RECEIPTS**
Baptisms, Weddings
& Funerals
**Donations, legacies and**
**grants**
Collections &
Donations
Donations &
Members'
subscriptions|**Restricted**
**Unrestricted**
**Total Funds**
**£**
**£**
-
1,000
1,000
-
15,575
15,575
-
3,289
3,289
1,047
3,981
5,028
-
11,922
11,922
-
-
-
-
-
-
2,726
2,726
-
-
-
-
-
-
18,165
18,165
1,047
56,658
57,705
**2022**|2021
Total Funds
£
-
18,381
2,694
4,260
17,295
-
2,002
6,442
-|
|---|---|---|
|||51,074|
6
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Payments**
Restricted
Unrestricted
Total funds
**£**
**£**
**£**
**Church activities**
Priest's fees
-
22,848
22,848
Votive candles
-
-
-
Liturgical supplies
-
1,475
1,475
Telford Church rent
-
400
400
Archbishop Visit
-
-
-
Ordination
4,221
4,221
**Repairs and Maintenance**
-
2,200
2,200
**Electricty**
-
1,189
1,189
**Insurance**
-
1,378
1,378
**Grants and donations paid**
Charitable Donations
870
1,048
1,918
Diocese and Patriarch
-
-
-
Archdiocesan Central Fund
-
2,545
2,545
Subscriptions
-
25
25
Varangians & Youth
-
261
261
Charitable activity
-
-
-
**Frescos and Icons**
-
-
-
**Administrative costs**
printing,
postage &
-
3,336
3,336
Independent Examiner fee
-
1,104
1,104
Fundraising
-
383
383
**Bookstall**
-
1,304
1,304
**TOTAL EXPENDITURE**
870
43,717
44,587
**(DEFICIT)/SURPLUS FOR THE YEAR**
177
12,941
13,118
**TOTAL FUNDS BROUGHT FORWARD**
-
26,139
26,139
**TOTAL FUNDS CARRIED FORWARD**
177
39,080
39,257
**2022**|_2021_
_Total Funds_
_£_
17,504
3,008
2,088
400
1,492
-
4,902
886
1,278
4,920
1,325
-
25
597
744
13,500
2,082
1,050
805|
|---|---|
||56,606|
||( 5,531 )
31,670|
|||
||26,139|
7
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA**
## **STATEMENT OF ASSETS FOR THE YEAR ENDED 31 DECEMBER 2022**
|||**2021**||2021|
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|**Monetary Asset**|**£**|**£**|**£**|£|
|Bank and cash held|39,080|177|39,257|26,139|
Signed on behalf of all the Trustees by:
Trustee: Adrian Pavel Date:
## **ANALYSIS OF FUNDS**
|**GENERAL FUNDS**
General - cash|Balance as at
Receipts
Payments
01-Jan-22
26,139
57,705
44,587
26,139
57,705
44,587|Balance as at
31-Dec-22
39,257|
|---|---|---|
|||39,257|
8
**GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Notes**
## **Assets**
The Community of the Holy fathers own the church building. It is their current policy is not to include a valuation as it is consecrated and that it was previously included in the accounts at a valuation of £223,000.
## **Related Party Transactions**
During 2022, there was one related party transaction. £400 (NIL: 2021) was paid to L Thomas in relation to work carried out on an extension to the building
9