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 2024 Partners Proiecting your fiiture. GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Referènce and administrative details Trustees, report Independent examiner's report Receipts and payments Slatemenl of assels Analysis of Funds Notes GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS Trustees Mr B Vanezi MrAHart Mr L Thomas Mr A Pavel Ms E Maoudis Mr V Vanezi Mr S Avraam Mr O Williams Dr D Lewis IPr&sidentl Ivice - President) Secretary) (Treasurer) Appointed 1410312024 Charity reglstered number 1087910 Prlnclpal offlce 34 Old Rose Drive, Sullon Grange, Shrewsbury, SY2 6FJ Accountants WR Partners, Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. REPORT The Trustees present their annual report together with the financial slalemenls of Greek Orthodox Community of the 318 Holy Fathers of Nicea Ilhe charity) for the year ended 31 December 2024. STRUCTURE. GOVERNANCE AND MANAGEMENT a, Constitutlon The charity was consliluled by Deed on 14 May 2001 and is registered with the Charity comm￿sSion under charity number 1087910. b. Method of appolntment or ele¢tlon of Trustees The power of appointing new tTuslees hereof shall be vested in the surviving or continuing Iruslees for the time being (excluding any retiring Iruslees). Organlsatlonal structure and declslon maklng The affairs of the charity are administered by ils community board, which meets al least bi-monthly and which is composed of not less than 8 Greek Orthodox Christians. The Archdiocese may, if il wishes, appoint up lo 4 more, bringing the lolal to 12. d. Rlsk management The Trustees have examined the major slralegic, business and operational risks which Ihe charily faces and confirms that systems have been established lo miligale the charity's exposure lo the major risks identified. OBJECTIVES AND ACTIVITIES a. Poll¢les and objectlves The principle object of the Charity is "by such means as are charitable" lo promote the Greek Orthodox faith to advance public education and lo relieve poverty, sickness and distress and lo piovide facilities in the interests of social welfare for recreation and leisure lime aclivilies with the object of improving the condilions ol life for the inhabilanls of the Counly of Shropshire and il environs. b. Acllvltles for achlevlng oblectlves 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 lo il in their adminislralion of the Charity. GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES, REPORT ACHIEVEMENTS AND PERFORMANCE Going concern Alter making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational exisler)ce for the foreseeable future. For this reason they continue lo adopt the going concern basis in preparing Ihe financial slalemenls. b. Revlow of activlties The board agreed lo offer Fr Panleleimon a monthly fee of £1,500 for his work as a priesl. With our community growing lasler than last year we are looking in extending the church in the late winter of 2024 the board had lo make the decision of looking for another church Ilhe number of members allending we're constant al the level where the extension would have been not enough). Moving lo another church means the church in Dove close will still be kept in used for Thursday setvices, baptisms, weddings. funerals and any other seNices. With the kindness ol a close friend of our communily we started using Sl Julian church in Shrewsbury. This offers more than enough space for our Sunday service and people are not needed lo slay outside lo listen to servic6 as happened lo our church in Dove Close. We celebrated Pascha al Sl Julian's and was a massive success. A lol of people allended lover 450} and al the same lime a record number of people stayed lill the end due lo enough space in the church. We celebrated our annual church fete in Dove close with Greek BBQ and aclivilies, il was success especially having neighbours form the esl8le attending The board carried out with helplng Ihose in need form Ihe community as well as from Shrewsbury area. Late summer the board and the sister charity entered in discussions lo review the conslilulion and bring everything up lo dale with our needs and Charily Commission requirements. The decision was made to create a new charity which will lake over all the duties. Paperwork has been submilled lo Charity Commission and we are wailing for their approval. Education, we have be8n running wilh success the Varangian club levery 3rd Siinday of the month}. In Seplember al th8 reslarl ol the school year we have registered 29 children allending the club which is very encouraging for our future genoralion growlh. Wilh Ihe kindness ol Sl Winefried school, wa have been running il in thè school hall. Al the end of the year Ihe owner of Sl Julian proposed lo us to lake over the possibility of purchasing the church. The board agreed to start working and lookin9 into what il involves and lo lake care of all the necessary research that needed to be done to see if we were lo acquire it. Al th& and ol the year, we slarled planriing for the big celebrations which we will organiie lor celebrating 1700 years since the Frisl Ecunienical Council from Nicaea which involves the Church Fete and (I series of events. GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. REPORT c. Invostment poll¢y and performance In additional lo the aim lo relain a prudent amount in reserves each year, the charity's funds have generally been required lo be spent in the short-lerm. We are. however. now planning for the medium to long term when major building work will be needed. PLANS FOR THE FUTURE Various groups form SOCAF, CHF board and Iruslees work in bringing the conslilulion up lo dale lo the lalesl requirement of the Charity Commission. A draft has been created and with the voles form all the relevant people has been submiled lo Charity Commission for aproval. Once the Charity Commission aproves all the changes all the relevant parties will vole to aprove the changes lo be implemeled a new incorporated charity will lake over all the jobs runing the Shrewsbury Orthodox Church. ISOCAF will become SOC-Shrewsbury Orthodox Church). The Iruslees of CHF will need to vole on what will happen with Ihe charity. FINANCIAL REVIEW a. Reserves poll¢y It is Ihe aim of Ihe Trustees lo maintain free reserves al a level equivalent lo a minimum of three months unreslricled fund expenditure. 11 is deemed Ihal this level is required due lo the charity objectives. Freo reserves al 31 December 2024 ware £30,32212023'. £35,635}. Total funds stood at £32,653 al year end. 12023 £39,329) PLANS FOR THE FUTURE The land adjacent lo the church has been purchased by Ihe sister charily SOCAF, that will cooperate with the Community in future development plans. The Greek Orlhodox Community of the 318 Holy Fathers of Nicea charity will be used lo continue lo run the church and lo help the community. This report was approved by the Trustees and signed on their behalf by.. Trustee.. Dale.. Adrian Pavel 23.4.ZS/ GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT Independent Examlner's Report to the Trustees of I report on the financial slatemenls of the charity for the year ended 31 December 2024 which are set out on pages 6 to 7. This report is made solely lo the charity's Trustees, as a body, in accordance with section 145 of the Charities Acl 2011 and regulations made under section 154 of Ihal Acl. My work has been undertaken so Ihal I mighl slate lo the charity's Trustees those mallers l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the charity and the charily's Trustees as a body, for my work or for this report. Responslbllltles and basls of report As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 20111'lhe Acl'l. I report in r6SP6cI of my examination ol 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 Charily Commission under section 14515llbl of the Act. Indepèndent examlner's statement I have completed my examination. I confirm thal no n)alerial mallers have come lo my allenlion in Gonneclion with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records. I have no concerns and have come across no other mallers in connection with tho exaniinalion lo which allenlion should be drawn in this reporl in order lo enable 8 proper understanding of Ihe accounts lo be reached. TIM Lunt BA (Hons) FCCA MTPI WR Partners Chartered Accounlanls Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Dated. 2010512025 GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECEIPTS AND PAYMENTS Recel ts 2024 Unrestrlcted Total Funds 2023 Total Funds Restricted Voluntary incomo 68,899 68,899 45,236 Income from church activltlos 1,850 11,775 13,625 6,366 Grants 2,000 2,000 33,280 Actlvlties for generatlng funds 11,635 11,635 20,968 TOTAL RECEIPTS 3.850 92,309 96,159 105,850 GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECEIPTS AND PAYMENTS ments 2024 Reslricled Unreslricled Total funds 2023 Total Funds Camp 34,698 Clergy expenses 49,107 49,107 32.609 Lllurgical expenses 2,517 3.557 6,074 1,668 Project management & general malntenace 18,666 18,666 21,857 Grants & Donatlons 2,000 12,198 14,198 5,885 Cost of tradlng 696 3,203 3,899 3,727 Support costs 9.337 9,337 7,177 Governance 1,554 1,554 1,410 TOTAL EXPENDITVRE 5,213 97,622 102,835 109,031 {DEFICITIISURPLUS FOR THE YEAR (1,363 } { 6,676) TOTAL FUNDS BROUGHT FORWARI 3,694 35,635 39,329 42,510 TRANSFER TOTAL FUNDS CARRIED FORWARD 2,331 30,322 32,653 39,329 During the year the charity ha5 changed accountancy software. In doing 50 they have decided to report income and expenditure under broader headings. The total income and expenditure remains unchanged. GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF ASSETS 2024 Unrestrlcted Restrlcted Total Funds 2023 Total Funds Monetary Assèt Bank and cash held 30,322 2,331 32,653 39,329 Signed on behalf of all the Trustees by.. Trustee: Dale: Adrian Paval z8.4.zS ANALYSIS OF FUNDS Balance as al 01-Jan-24 Receipts Payments Transfer Balance as at 31-Dec-24 GENERAL FUNDS Gèneral - cash Restricted 35,635 3,694 92,309 3,850 97,622 5,213 30,322 2,331 39,329 96,159 102,835 32,653 GREEK ORTHODOX COMMUNITY OF THE 318 HOLY FATHERS OF NICEA FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES Assets The Communily of the Holy fathers own the church building.11 is their current policy is not lo include a valuation as il is consecraled and that it was previously included in the accounts at a valuation of £223,000. Related Party Transactlons During 2024, there were no related party Iransaclions. {2023.' NIL) Camp accounts 2024 Al Ihg slarl of the year £3,694 was held in our dormant account on behalf of the Sl Sophrony Camp. On the 9th January this amount was transferred lo their own bank account.