Charity Registration No. 1107634 coMnY Registration No. 04766548 (England and Wal•s) SYRIAN ORTHODOX CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 A4YK50LL 2510212022 COMPMIES HOUSE 'Ii A09 Fawley Judge & Easton Chartered Certified Accountants 1 Parliamenl Str••t Hull East Yo$hI HU1 2AS
SYRIAN ORTHODOX CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Tiustees DrAAkKhoury Mrs Z Hanna Dr S Hender50n HH C Karim Mrs B Kasgr Mr M Khcory Or Z Shamo S•crotary DrAAkKhoury Charlty numbèr 1107634 Company number 04766548 Roglst•r•d offi¢• 7-11 AMtrong RoJ London vrJ 7JL Audilor Faw Judge & East Chartered Certffj Accountanls 1 Parliament Street Hull East Yorkshire HU1 2AS
SYRIAN ORTHODOX CHURCH CONTENTS Page Trustees, report IndeFendenl audrtofs report 15-17 ststement of financial a¢tiw15 18 Balan sheet 19 sLement of cash ftows 20 Notes to the financial statements 21-33
SYRIAN ORTHODOX CHURCH TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MAY2021 The trustees present their report and financial statements for the year endgj 31 May 2021, which also comprises the Directors. Report required by the Companyès Act 2CQ6. The Chavity Name: The legal name of the chanty ts.. Synan Orthodox Church The chanty Is also known by ils operating name. Syriac Orthodox Church. s1 Orthtsjox Church UK, Syrian Orthdox Church UK or SOC UK. The Charity's Areas of Operation and UK Charitable R•gistrati¢)n The charity is registered in England & Vlales with the Chanty commilOn in EngLand & Wales ICCEW) with the charity number 1107634. Legal Structure ol thè Charity The charity is constituted as a eompany limited by guarantee. regk8tered under Ihe Companies Acts. The goveming document of the tharty is the Memorandum and ArtKles of AssLxiatK)n establishing the company under company legislation. There are no restnctions in the governing documents on the operabJn of the Charity or on its in*stment powers other than those imposed by Charity Law. By operation of law all, trustees are directors under the Companies Act 20 and all directors are trustees under Charities legiation and have responsibilrtJ"es. as suth. under both company and charity W'slalion. The trustees afe all indNiduals. Th• Prlnclpal Operating Address. Telephone Number. Email and Web Addre68e8 of the Charity The Syriac Centre 7-11 Armstrong Road London W3 7JL Telephone 020 87495834 Email Address." Enquiry.20@SOC-uk.net Web address". www The registered office of the charity for Cnpan$ Act purposes ts the same a5 the operatsng address shown above.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Thg Trustoes in Office on the Dat• the Report was approv•d worg: DrAAI-Khoury Mrs Z Hanna Dr P Hardo Dr S Hendetson HH C Karim Mrs B Kassir Mr M Khoory Dr Z Shamoon The truslees who served as a trustee in the le[rting peri(xl were as shown aLw)ve. However, Dr Philip Hardo had resigned on 11-Mar-2021 and his onaln was filed with C¢ynpan*s House on 24-Mar-2021. (Rewgned 11 March 2021) At the Annual General Meeting no trustees retire forrn offi. All the InJ$tees are members of the church. Th& financial slatements have been wepared in accordan with the accounb.ng policies sel out in note 1 to the financial statements and comply with the tharity's Igoveming documentl. the Companies Act 2006 and "Accounting and Reporting by Charittes.. Statement of Recommended Practice app1Kab lo charities prepanng their aOunt$ in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {effectNe 1 January 20191.
SYRIAN ORTHODOX CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Objectives and Actlviti•s of the Charity: The Purposes of the Charity as Sp¢¢ified in its Governlng CkKum¢nt: The objects of the charity, as ststed in the goveming d¢xument of the Charty. are to advance and Pfomole the Christian Faith in accordance with the leathings and pract¢es of the Syrian Orthodox Church of Antioch. Tho Maln Aetlvltles Und•rtak•n In Relatlon to Thosfr Purposes during the Year. The Charty seeks to provide opportunib.es for peopfe to conlribule lo the objects'ves. and offer Ihe church's facilities for worship, and the church hall and centre hall for e¢JucatKJnal. cullural and social activities. Significant actimties are.. Ble study, cultural leclures. refreshments after the main church services, fe pa'eS over the course of the yeaf lo bllng the community together as well as supporting the church's youth with their activities. so, it provides the halls for use by other from the local eommunty as well as its use by a full day nursery. The Main Activities Undertaken During the Year to Further the Charity's Purposo for thg Publlc 8en•frt. For the purpose of attaining the aforesaNJ obJ"ectNes. but not othevwise, the Chartty shall provith and maintain places of Christian worship to enab the offtciating of sacraments and for the due perf0mlan of the rites of baptism, rnarriage, burial and other CeremonS according lo the principks of Ihe Synan Orthodox Christian Faith. For the purpose of attaining the afores8 rt¥ectives. but not otherwise. Ihe Charity may exercise the foll¢)wing powers.. 1. To provide and maintain the ministerial setwices of dergy (such as a bishop. corepisc(yis. priest(sl, or monkls}} including the prOViOn of a reskdence(s). 2. To hokl and otherwise promote religious meebngs an¢J confe1$. 3. To help the needy in the United Kingdom and abroad. 4. To provi(Je spiritual. social. cuttural ano educational aclivths. 5 To teach and promote the SyrkAramaic language and herit4e. The trustees have had ward to the Charty Commission'5 gUVjan on public benefit in managing the activities of the charity.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MAY2021 The Short Temi and Longer Temi Aims and Obje¢tlves: The main obiectNe of the Chanty for the year 31 May 2021 las avaYs) was to ensure thal the Charty remained solvent, accessible. and modem and at the heart of the communty and the Syriac pIe living in the United Kingdom. To this end the Charty intend to keep a dose control on the finances. trying to reduce unnecessary expenditure and to enhan stsrplus rr•)nies by investmg in rts properties. Also. the Charity ensures that it Pfowdes services to the communty to meet rts objethes as highlMJhted in ils Governing Document. In the financial review section of this Teport there is a de5criptton of the invesbnenl polic and objectives estsblished by the trustees and Ihe exient to which Cial environmental or ethical considerations are taken inlo cOunt. Additionalty, the Charity continues to to" Continue being a seW-Sustainab enterprise. Achieve and maintain a 9ood working lat)nShiP wTh)ngst the trustees and with the clergy, Staff, volunteers and parishioners. Continue to interact with the church parishioners and communty with the aim of regular consultatson to idenlfy demands of provision and seNices. Encourage the thurch youths to lake more active roles in the lrfe of the church so they can contribute to its success by bringing their own ideas. They can also be trained to tske the responsibilitE$ of running the ChUh Charity in the future Support the Syrrac Seouts group. Th? Charfty's Strategles ft>r Ach5wing its Awn8 and Obiè¢tiv•g in tho Fure. The main t)bjeclive of the Charity is lo maintain and provKle places of w0h1P to the SyrÈan Orthodox panshioners St Thomas Cathedral building at 1 Armstrong Road is continuing to provxle ample space to allow the Syriac pan5hioners lo attend church Serv$. St Mary's Chapel on the first flocsr is used mainly by the youth to attend church services in English. Sunday Schrjol Education and Music Leswns to the Syfiac Scouts group that subscribes to the British ScoulsAsSctI10n. The Charity's strategy to use its inveslment incotre to pay off soft of the rrtgage and Ihus reducing the Inlefest on the loans. How the Activities Und•rtakon During Year Contributod to th• A¢hl¢v*m?nt of th• Aims and Oblectlves.. The calhedral building has provided large space lo allchv more parishioners to attend the church seryices. The charity is planning to install mowng partitions to allow the separat of the sanctuary of the main chureh Spa from extra space to the Se. Thi$ will help to organise drflerent fUnctn5 at times when the 1$ no ¢hurch service. There has been weekty 8ible studies for Ihe parishioners led by sorne of the ckrgy. whKh contributed towards explaining the church's faith to the parishioners and guests, and answered many of their question$. The charity has organised several s(Kial events throughout the year such as b)xing day paty for the youth, new year party and Valentine paty. as well as gxial trTrps for all as well as eduCatnal trips for the youths. The events brought the community logether and alkxved them to meet others of the same denomination who settled in the UK recenlty of trom sisterty churches.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Resour¢•$ Used in the A¢tiviti•s Undertaken During the Year. The hall al the Syriac centre was used for some of Ihe charity's soual events and the weekly serving ol refreshments after the church ServeS as well as the cathedral's small hall. The charity has also subsidised the churth's youth's activrfies during the year. The Chaity ensured adherence lo Health & Safety issues ar provided training for Fire Awareness and Fire Wardens certification. The charity has aanged for the H&S loining, safeguarding as well as Fire awarene$$. Policies have been written to ensure good pract. Social Investment Policies and How Theso Contributed lo the A¢h•8vem•nt of Charrty's Aims and Objectives During the Year. The Chh building at 1 Armstrong Road has provided ample space the parishnerS during the church services. The first fl¢)or Is used for youth actNities and also as a wll out space to avoid u¢)wding during Covid-19 restrictions. The investment properb.es owned by the Charity are renled out to elderty parishioners and needy households. The elderty parishioners are benefiling of being in ck)se proximity to the church and enjoying being socially close to each other. The hall at the Syriac Centre (7-11 Amistrong Road) is rented lo a Nuwsery for the Local community to benefit from during week days. Al the weekend the hall is used for churth functions lo benefit church members and local residents. The Charity ensured its support for the Nursery even cjuring dosure because of CovKI-19. The ground floor was redesigned and renovated to accomrnodate two new units adjacent lo the existing Nursery Hall. One unit {81 is residential and Ihe other (914Vd5 rented to a busines5 offering services lo the parishioners and the wthr eommunity. Th• Contrlbution of Volunteern during the Year. The charity 15 run and administered by the volunteering trustees of the charity. They are assisted by other volunteers frorn within the church communty and organised into commrttees I teams. The volunteering teams help with some of the activitses such as." provKJing refreshnIS. organising sla1 gatherings, parttes and sooal trips," Sunday school duties. media and communicab'ons. engineering advise. and buildings, maintenance. insurance advice and liaison as well as the Heallh & Safety and FI proteCtn duts"es.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Achiev8ments and p•rforn)aTr¢e Thg Main Achievernents and P8rforniance of the Charity durlng the Year: The Charity relies on regular donatM?ns from its members a5 well as grant from ¢Jonors identified in the accounts, whose support is valued. A. The main achievements and performance of the charity in the year ending 3lay-2o2l." 1. Raised new loans to reduce the amount of mortgage and pay less inleost. The charty have managed to pay off some of those loans within the year. 2. Continue to update and maintain better prwses for wiunts"ng. 3. Continue to support Bribsh Syriac Scouts in the UK and provided them wrth their essenkn.al needs. 4. Sunday school teachers and scouts lthlers have obtained enhanced DBS. 5. Undertwk the necessary precaubons and adhered lo Ihe govemmenl and health aUth'S guidelines to protect against COVID-19. Implemented health and safety measures for the protection of church attendees and ensured the cL)ntrol of the number of attendees. 6. Purchased equipment, e.g. cwneras and viwon mixers, to enhance the media coverage of online service This was and still is of great benefit during xkd not onty to tyjr parishioners in the UK but also connected lo others all over the workl. 7. Continued lo support the UK Prison Serv to rehabtste offenders by allcwing the "PAY BACK" groups lo clean Ihe church and the bishopnc on a weekty basis and prowding supervision for them. 8. Adopted and IMMented key policies {see latef}.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 The Differen¢e the ¢h¥rity'8 Perfornance during the Year has m•de to the Befi•ffi¢larl of the Charity and Wider Society: During the year the Charity has". a. Sustained ofwotship aecording to the Syrian Orthotlox Rite for the peop. b. Maintained the ministenal seNices of the dergy. c. Arranged meetings and conferences to publicise the Christran Faith according lo the Syrix Orthodox Faith and to prornole and educate about the Syriac langua9e. culture and heritage. d. Provided assistance for the needy pecole in the Unrted Kingdom and abroaj. e. Letting the centf& hall to be used as a nursery. Thus enabkng the hxal families of all faiths aTrJ Tr)ne lo benefit their children and also to volunleer. f. Using the payback services to dean Ihe church benefits the local prisoners or those on probation with opportunity for fehabilitation. Our dergy provide them with lunch and show them kindness and supeNse them to help them buikj trust and a sense or worthiness. g. Enhanced the safety of its pr¢)perties and provided consistent maintenance support for its tenants, and keeping the area in good standard. Furthennore. Ihe lethng of nats are not restricted to people of the church as we had tenants of other Tel10n as wg11_ h. Sourcing local seMce$ and $h¢ys for ¢atering faolities and rna1ntenar. i. The established Synac scouts group engages with the West Londofi district and regional Yuts as well as intemalional scouts, organisations. Invited other Sts lojoin in the marching band. j. Inviting and attending mulli-failh and muWi-fvnction meetings and events by the clergy or members of the Syriac community. k. Obtained a sponsorship T2 and T5 license from the Home Office to recrurt one prEst and a religious worker from abroad. This is Valid until November 2024. i. stsrted lo implement the necessary Frf)lic*s. Some have completed and the remaining ones are under review. The policies are.. 1. Health and Safety Policy {publBhed). 2. Fire Policy Ipublishedl. 3. Safeguarding Policy {publishedl. 4. Equality Policy (published)_ 5. Finance Ipublishedl. 6. C¢)mplaints PoIY {under review). 7. Recrurtment Poly (under review). 8. GDPR and Confidentsalty Poli (under final review).
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 The degm to which the achievements and rf0Mlac• during th• year hove b?nefit8d wlder socl8ty: Within the Christian wider 5wety, the charity provKled 5eMces in dfftefit cities like Manthester and Birmingham, Coventry. Wales, Scolknd, Ireland and Brighton. Some of those were of dtfferent denOMinatn$ mainly Orthodox and Catholic Iraqis who Share the same culbjre and language and who put denominational dbfference aside. This is a Ptsve step I¢ardS unity in Christ. Visiting clergy from Brazil, Iraq. Australia and other countries benefrted from Iiosprtalty at the Syriac Cenlre. thin the secular %)ciety, the charity ¢onlributed to the success of the Coffmuntty serviee schemè by makirwj the church properttes aVaiLae for deaning and provKling supervish)n an¢J support lo Ihe people th)ing their community sentence. The Scouts Asswation beneffted from our Membership as St ThaS Syriac Scouts. The ehaTty shared its and culture wrth other faiths and deMInatnS lo enhance an abnosphere of peace and tolerance. Varlous businesses benefited frrth prcyrting their names though our fundraising bazaars ty offering their small value kyoduce and raffle presents. The Significant Charitable Activities Undertaken ln the Year. The Charity assists with the smooth running of the church to al the parishKJners to Pract their farth. Aso. il assist5 with publishing news about the church actmties and nthys to its members. 11 helps to provide the facilils for the parishioners as thpll as the l(Kal comrnunity to use the Charty'5 premises such as a day Ca nursery. The Charty, trom lime lo b'me, oversees the collecb'on of dOrtats from its members. other supwteis and organisabons to help the needy and diSaCed peoFAe Moad. The Charity with help from members organises Sla1 events. partes •)d trips. The Charity attends meeling of other similar organisations and colkborate with other Churches to help the people in need. The Charity. through its clergy, Partipate$ in rneeb.ngs to tl)e writ of ecumenism and b advance peace in Ihe world especially the Mhldle East. The Charity is conlributing financially to support NHS research efforts on Covi&19 How Ihe Aehi•v•ments during Year Measure up to the Obj•¢tlves Set: The redesign and additKJn of more units on the ground fioor of the Syriac Centre provided extra rentsl income as well as allowing a parishioner (member of Ihe charity) to start her busines5 thalty. The previous hall is providing a facilty to the local community lo be used by a day care nursery. The upstairs church {1 st floor at 1 Amistrong Road) is being used for Sunday S¢hool and monthly Mass. in English, lo the youth as well as the Scouts. Investrnent Pèrformanco a9ainst the Investment Objectivos: The income from the rent of the new ftats and church hall to a Nursery in the Syriac Centre as well as from the rent of the hvo properties al 33 Old Oak Road and 52 First Avenue. conts.nue to provKle the charty's financial plan. This 1$ in addition lo the continuous generous ¢S)nations from panshionefs and fr*nds.
SYRIAN ORTHODOX CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 structur•p gov•rnan¢• and maTrag•rnent The Methods Used to R8CWit and Appoint New Charity Trustees: Trustees are selected based on the MeM[S seclion of the Charity'sArtick ofAssw"ath?n. New Iruslees can be added prOVed that their total numlxr does not exceed eight at posent. The existing trustees announce the need to elect new trustees to the charty within a asOnable time. Nomrnalions are invited from eligible parishioners by sutrjnitting bn.ef CV and future worf(ing plan on to help irnprove the running of the charty. During a General Meeting, the charrty members will vole to elect the tnjstees rf the number of the rKJminations exceeds seven, olherwise, rf the number is seven or less. then the nominees will be COnSKlered eed. Th• Policies •nd Procedures for the Inducllon and Training of Trustees: The prccedure for the training ol Iruslees is to prowde each one with'The Essentsl Tnjstee" publication that 15 provided by the Charity C{mIsSn. The charity has five approved DBS personnel. Provisions are being prepared for all those who are going lo be in coniact with vulnerable people to obtain OBS checks. A new safeguarding prtxedure was prepared and circulated lo the Trustees. A Fire Risk Assessment was ordered and an Ath"on Plan was prepared and implemented accordingly. A Fire Policy, Evacuation procedure as well as a Healih 8 Safety lleY were written and circulated. None of the trustees has any benefal interest bn the ccffipany. All of the trustees are members of the company and guarantee to conlribule £1 in the event of a winding up. The Charlty's Organlsatlonal Slructure and How the Charity Makes Decisions and Delegates: The Charity's board of Twstee$ acts a5 a Management Team. The Board of Directors ITrustees} can fomi sub-groups. The sub-groups can be led by one or more twslees and joined by volunteering members of the chanty appointed in con5ultats.on with the Bishop from within the parishioners to fomi joint committees. The joint CommeeS will help the Trustees in the day to day running of various church actsvities and resp)nsible for implementing policies. The final deu"sions are taken by the charty tnjstees and somth.mes after CLX)sufting the church's archbishop. The Trustees along with those members of the commfftees can also fonn other sub committees with other volunteers from within Ihe Church parishioners lo kk after spiritual. sooal. cultural and other needs and requirements of the church and its people in dfftrenl parts of the UK.
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 The Chief Executive Officer and Oth•r Senior Alanagement Pernonnel to Whom Day to Day Management is Delegated: All the Truslees of the Chaftty work cojleclbvety to manage the day to day worf( of Charity. Setting Pay and R•mun•r¥tion of Key Management Person11. All the charity trustees are volunteers. They do not rewve payment or refflUneratn from the charity. Employmont of Dbabled Persons: The charity employs clergy personnel only. At present, the empbys less than S clergy and none of them is registered as a disabled person to the Charty's best of knOwge. Whenever posts will be available there will be no discrwnirtation towards applicants erther as Pernnent members of staff or as volunteers. The Charity as a Part of a Wider Notwork: The Charity has no responsibility for nor is il an¥erable to any other organisalion. The Charity as part of its relatJnships with other gTOUPS. charities and individuals is Prepa to provide them with space and support when required rf rt IS Possib, for which they will incur a fee. Occasionalty, the Charity may prowde the space at a reduced rale depending on need and abilty to pay wrth the provision that the applicant should be member of the Charity. bcal community Of charit$ of benefit to our Charity or local cornmunity. The Charity's R•lationships wlth R•lat•d Part••s: The Syrian Orthcthx Church ts a Charitable company and does nol have subsldiars. 10-
SYRIAN ORTHODOX CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 FSnanclal ravlew The Trustees. Bankern and Advisors: Bankers.. HSBC Bank. 184 Hh Street. Bfomley, Kent. BRI 1HE Barclays Bank PLC. Bardays Buness, 81183 Victoria Road, Surbilon. Surrey. KT6 4PD Soltcitors Atfftlls Sdicilors LLP. 88 Sl John's Hwh StreeL London, NV¥B 7SH AccoLtntant Raghad Aziz ICPA CIPP. JustAccounts ICardrN) Ltd, certrfd Practicing Accounlant, Dunbelling. Tegfan Close. Llanishen. Cardfft, les, CF14 5DE The Charitys FinancialPosilion at Ihe End of the YearEnded 31 IA•y 2021 The financial position of the charity at 31 May 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows'.- 2021 2020 Net incorne 212,021 76.332 Unrestricted Revenue Funds available for the general purF¥)ses of the chari 3.231.271 3.019,250 Restricted Revenue Funds 2,750 2.750 Totsl Funds 3,231.271 3,022,000 The board of Iruslees are satisfie¢J with the perfonnaftce of the tharity during the year and the powiion at 31 May 2021 and consider that the charity ts in a strong wsilion to continue its activit$ during the coming year, and Ihal the charity's assets a adequate to fijlfil rts oblwJations. The Statement of Financial AclNiti"es show net incoming resources for the year of a revenue natu of £212,021 (prior year- £76,332) and net aliselY inccmning resources of a capital nature of £nil {prtor year £nil}. making net overall alised incoming SOurceS of £212,021 (prior year- £76,332). The total reserves al the year's end sland at £3,234.021 (prior year £3,022.CL)01 Flee unrestricted liquid re5etves were £3.231.271 (prior year £3.231.2711. Speofic Changes in fixed assets are detaikd in the notes to the ac£ounts. Policie8 on R•serveB: The ¢harily has total free unrestricted liqu•J reserves of £3,231.271 at the year end. £4.054.761 of which is invested in the charity's propert5, leaving a defiat of £823,490 as a deficrt on fre8 liquhl reseNes. Of the amount of t823,490. an amount of £823,4 is fepresenled by long term credilors. leaving free unreslricled revenue reserve in deficit by £0. The trustees have resolved to estsblish reserves excluding fund5 required for the propety lo prowde for fvtU acbvrties. and lo provide fvnding for the expected unrestricted expenditure for six month ahead in the sum of £150.000 and are taking steps to achieve this. 11
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Availablllty and Adequacy of Assets of Each of the Funds: The board of trustees is satssfied that the charity's assets in each fund are available and adequae to fulfil its obligabons in SpeCt of each fund, bearing in mind the events described in note 15 lo the accoun15, when taken with known future income streams. Investrnent Policy and Investment obittt1v- The current financial policy is to use the new renovaled buihlirvJ and the income generated by the exrsting and future assets lo further the obj'ects of the charty. Rlsks and Unc¢rt¥inties Facing the Charity: The identified risks are Ihe inuease in klan level incurred by the ehafity due to the puithase of the chh at 1 Armstrong Road. AddItnalty, the added costs are those related to continuous renovation work and improvements. The income from renting the hall to the day nursery may te affected by Of51ead special measures. This could lead to reducts'on in the rnoney generated by the rent. This risk is mitigated by the fact thaL the charty cywns its assets. whieh are freeholds, and it has a pro-a management committee to oversee all future reviews and deVekSpnts. Furthermore, the professional image of the charity is well established. This is illu5tTated by the expansK)n of its assets and the amount of donations contributed by its members and other dormys. Moreover. the charity has been acknowledged by othef organisations and several hh profiled peopbe. There is a difficumy in getting members lo commrt tme for the meetings and actual work. This dS to the work load being shouklefed by few members. Factors Likely to Affect Future Financial Perfomiance: Reduction in the amount of donations is aNtpated after the completn of the conversion work on the first floor of 7-11 Amislrong Road as people will feel less obliged lo th)nale large sums of money lo support a major project. However, the chuTeh parishioners are known lo rally around if ihere will be futu project to help the community or in response to an appeal lo help neety Feopk. Prfncipal Funding Sources in th& Year and How Theso Support th• Key Obj•¢tlves of the Charity: Oonations were received from a variety of s4yJrces. and these are set out in detsil in the notes to the acLounts. Plans for th• Future Summary of Plans for the Futurn and th¢ Tru$te•s' Per&pe¢tiYe of the Future Direction of lh• Charity: 1. Plans lo enhance youth servtis via digital means. 2 A conslderalion lo purchase a building wilh L8nd in the ccMJnlrys•Je oulshle LoThYon lo c(vert lo a Monastery and 8 spiritual treat cent for the publi 3. To recruit one more prie51 andlor religious worker to support the cOngregatnS OLrtside London. 4. Plan and assist the clergy to establish more parishes UK w. 5. To fomi Scout groups in other parishes. 12-
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MAY2021 Statement of trusteès. responsibilitie8 The charity's Iruslees are responsible for the preparation of the accounts in accordance wrth the term5 of the Companies Act 2006, the CharitEs Act 2011 and the Chariks {Accounts and Reports) Regubations 2008. NOlth$tandIng the explicit requirement in the extant statutory regulations. the Charities (Accounts and Reports) Regulations 2008. to prepare the financial ststements in accordance with the SORP 2005. in view of the fact that the SORP 2005 has been wilhdrawn. the Trustees detennined to interpret this SponsIbl11ty as requiring them to follow current best practice and prepare Ihe accounts according to the FRS 102 SORP (Statement of Recommended Practi for Accounting and ReFQrting by Chariliesl 2015 las ended by the Bulletin issued in February 2016). In parts'cular. the CoMpanS Act 2006 and charity law require the Board of Trustees to prepare finCial statements for each financial year which give a true and fair view of the state of affairs of the charity as al the end of the financial year and of the surplus or defKit of the charity. In preparing those finanaal ststements the Boafd is required lo.. lo prepare the accounts in ac£ordance with United Kingd Generally Accepted Accounting Prath'ce United ngdoM Accounting Standards and applicable lawl. select suitable accountsng polKies and appty them consi8tenUy: make judgements and estsmates that are reasonable and PTudent' prepare the finanual statements on tr gMyn9 ba$ unless it inappropriate lo presume that the charity will Conbnue in business.. slate whether applicable accounbng standards and statements of recomffended wactice have been followed. yjbject to any meriJ departuw disck)sed and explained in the financial statements.. The law requires that the trustees must not approve the xcounts unless they are satisfied thal they give a true and fair view of the state of affairs of the tharity and of the $lblus or deficit of the Ghaiity for the year. The Trustees are also responsible for maintsining adequate accounting records which disckjse with reasonable accuracy at any time the finantyal posrtion of the charity and which a sufficient lo show and explain the charity's transaction5 and enable them to ensuTe that the financial sLitements compty wrth the Companies Act 20( and comply with regulations made under the Charth"es Act. They are also responsi1e lor safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irULrItIes. The Trustees are also respon&ble for the contents of the Trustees. report. and the statutory responsibility of the auditor in relation lo the Trustees. report is limited tr) examining the reFQrt and ensuring tha( the report is consistent with the figures disclosed in the finanaal s&ements. Details of the Auditor: In accordance with the company's articles. a resolution proposing that Fawley jge & Easton be reappointed as auditor of the company will be put at a General Meeting. 13-
SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Disclosure of inforniation to auditor Thg Irustees state that so far as each of the trustee5 at the tme report was approved are aware" 1. There is no relevant audit information la5 defined by section 418(3) of the cCthpans Act 20061 of which the auditors are unaware, and. 2. The trustees have taken all steps thal they ought lo have taken to make theMsee$ aware of any retevant audil information and establish that Ihe auditors are aware of that infom)atK)n. The truslee$' report was ¥proved by the Board of Trustees. DrA A14<houry Trustee Dated.. 16 February 2022 14-
SYRIAN ORTHODOX CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SYRIAN ORTHODOX CHURCH Opinion We have audited the financial statements of Syrian Orthc*Jox Church (the 'charity') fof Ihe year erKled 31 May 2021 which compTise the slalemenl of finanrAal athvrtie5. the balance sheet. the slalernent of cash flows and the notes lo the financial stalemenls. induding significant accounting pOle$. The financial reporting framework that has been applied in their prepafalion is applicab law and United Kingdom Accountsng Standards, Including FRS 102 "The Financi81 Reporting Stsndard appIats[e in the UK and Republic of Irèl•NI" (United Kingdom Generally ' Accepted Accounting PractiGel. In our opinion, the financial statements". give a true and fair view of the slate of the charitable corryn$ affairs as at 31 May 2021 and of its incoming cesources and application of rVU[ceS. for the year then ended". have been properfy prepared in xcordance wrth United King) Genetalty ACpted AccounliNJ Practice." and have been prepared in acwdance with the requirements of the CcfflpaniesAct 2006. 8•si8 for opinion We conducted our audit In a¢cor¢Jance wrth Internatfia1 Stsndards on AUd'n9 IUKI {ISAs IUKII and applicable law. Our responsibilitses under those standards are further dewl)ed in Ihe Auditofs responsibiljties for the èudil of the financial slalemenls section of our rep)rt. We are independent of the charity in accordance with the ethical requirements that are relevant lo our 8udil of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in aCran with thèse requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our ownion. Conclusions relating to going ¢on¢?rn In auditing the financial ststements, we have concluded that the trustees. use of the going concem basis of accounting in the preparatson of the financial statements is appropnate. Based on the work we have performed, we have not identffied any materi81 uncertainties relab'ng to events or conditsons that. individualty or collectivety, may $1 signrficant doubt on the charity's ability lo conbnue as a going concern for a Feriod of at least iwelve IrlthS from when the finala1 statements are aulhori5ed for issue. Our responsibilities and the responsibilities of the trustees wrth respect to going coneem are deseribed in the relevanl se¢lions of this rewrt. Other inforniation The other Infofmation comprises the infomalion included in the annual report other than the financial statements and our auditorfs report thereon. The trustees a reswnsible for the other infomialion contsined within the annual report Our ¢)pinion on the financial 5taternents (k)es not cover the olheT infr)mialion and we (b not express any fomi of assurance conclusion Ihereon. Our resFonsitJ"lÈty is to oad the other infomiatr'on and. in doing so, consider whether the other Infomatn is materialty inconsistent wlh the finan¢ial statements or our knowledge obtained in the course of the audit. or otherwise appea to be m8terialty misstated. If we identify such material inconsistencies or apparent material mi5slatements. we are required to detemine whether this gives rise to a material misslalemenl in the financial slatemenls themselves. If, based on the work we have performed, we conclude that theie is a material misststement of this other information, we are required lo report that fact. We have nothing to report in this regard. 15-
SYRIAN ORTHODOX CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SYRIAN ORTHODOX CHURCH M4ttern on whlch we are required to report by exeeptlon We have nothing to report in resrect of the following matters in relatKJn to whKh Ihe Charibes (Accounts and Reports) Regulats'ons 2008 require us tr) report lo you rf, in our opinion.. the infomialion given in the financial ststements s inwigstent in any malerial respect with the tnjstees, report", or sufficient accounting records have not been kept". or the financial statements are not in agreement with the ac£ounling records," or we have not received all the infomiab.on and explanations we require for our audit. Ro$pon$ibilities of trustees As explained MO fulty in the slalement of trustees, responsibilits"es. the trustees. who are also the directors of the charity for the purpose of company law, are responsib for the pparat)n of Ihe financial statements and for being sa115fied that they gtve a true and fair view. and for such intemal control as the trustees delemine is necessary lo enable the preparatn of finanoal statements that are free from materTral misstatement, whether due to fraud or error. In preparing the financial staiements. the trustees are responsible for assessing the charity's ability to continue as a going eoneem, disdosing. as applicab. matters related to goiThJ concem and using the going concem basis ol aecounling unless the trustees erther intend to IiquKlate the charitable CLJmpany or to cease operations. or have no realist¢ attemative trAJt to do so. Auditor's re8ponsibilitle8 for the audit of the finan¢i#l statements We have been appointed as auditor undef section 144 of the Chafibes Ad 2011 and report in *Lordance with the Act and relevant regulations made or hawng effect thereunder. Our objectives a to obtsin #9)nable assurance abcwt whether the financial statements as a whole are free from material misststèment. whether due to fraud or error. and to issue an auditorfs report that include5 our opinion. Reasonable assurance Is a high level of assuran bul is not a guarantee that an audit conducted in o¢wrdance wth ISAS IUKI will aVaYS detect a material misslalement when il exists. Misststemenls can anse from fraud or error and are considered matertal rf. indivhjualty or in the aggregate, they could reasonably be expected to influence the economic decIsnS of users tsken on the basis of these financial statements. Irregularib"e5, including fraud. are instanS of non<omplk8nce with w$ and regulations. We desgn prcKedures in line wrth our responsibilities, outlined above, to delect material misstatements In sPeCt of irregularities. including fraud. The extent to whh our proeedures are capable of detecting irregularitses, Including fraud. is detailed below. A lurther des¢riplion of Ouf resronsrbilit is available on the Financial Repoth'ng Council's website at.. https'.11 www.frc.org.ukJaudilorsresponsibilibes. This description fomis part of our audilor's report. 16-
SYRIAN ORTHODOX CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SYRIAN ORTHODOX CHURCH This report is made sorely to the company's members. as a boty, in accordance with section 391 of the Companies Act 2014. Our audil work has been undertaken so that we might state to the company's mèmbers those matters we are reqUId to State to them in an audrtorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the eompany and the company's members. as a tKJdy, for our audit wortE. for this report, or for the opinions we have formed. Jona an Leathley (Senior Statutory Auditor) nd on behalf of Fa1 Judge & Easton 16 February 2022 Chartered Certified Accountants Slatutory Auditor 1 Parliament Strnet Hull East Yorkshire HU1 2AS Fthey Judge & Easton is eligib for appjintrnent as auditor of the charty by virtue of its eligibilty for appointment as auditor of a company urKler section 1212 of the CompansAct 2006. 17-
SYRIAN ORTHODOX CHURCH STATEMENT OF FINANCIAL ACTNITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY2021 Unrgslrictod Restrlthd funds funds 2021 2021 Total Unrgslricted Restricted fund$ fund$ 2020 2020 Total 2021 2020 Notes Donation5 and legaaes Charitable activities Investments 279.8 1.608 205.549 279,896 1.608 205,549 164,113 28.040 186.122 164,113 28,040 186,122 Total Incom• 487.053 487,053 378,275 378,275 Charitable activities 275,032 275.032 301.943 301,943 Net income for the yearl Nèt movemt in funds 212,021 212,021 76.332 76.332 Fund balances al 1 June 2020 3,019,250 2.750 3.022,01)0 2.942.918 2.750 2.945,668 Fund balances al 31 May 2021 3,231.271 2,750 3.234,021 3.019.250 2.750 3.022,000 The statement of finanoal acbvities includes all gains arKI h)sses reccgnised in the yeaf. All income and expenditure derNe from continuing actM"tss. The stslement of financial act1w1 also complies with the requffements for an income and expenditure account under Ihe Companies Act 2006. 18-
SYRIAN ORTHODOX CHURCH BALANCE SHEET ASAT31 MAY2021 2021 2020 Flx•d assets Tangible assets Current assets Debtors Cash at bank and in hand 10 4.054.761 4.155.148 11 199 138.434 17,028 234.059 138.633 251,087 Creditors: amounts falling duo Within one year 13 142.7391 165,4831 Net current assets 95,894 185.604 Total assets less ¢urrent liabilities 4,150,655 4,340.752 Creditors: afflounts falling due ar mor8 than one year 14 {916,6341 11,318,752) Net a8$•ts 3,234.021 3.022.000 Income funds Restricted funds Unrestncted funds 15 2.750 3,231.271 2,750 3.019.250 3,234,021 3,022,000 The ¢oryany is entitled to the exempt from the audrt requirement contained in sect*sn 477 of the Companies Acl 2006, for the year ended 31 May 2021, allhough an audrt has been camed out under section 144 of the Charitses Act 2011. The directors acknowledge their responsibilibes for ccthplying with the requirements of the Companies AGt 2006 with respect lo accounting records and the preparation of fbnancial statements. The members have not reqUId the company lo obtain an audit of ils financial ststemenls under the requirements of the CompaniesAct 2006. for the year in questson in accordance wrth sethon 476. These finantial 5ts1ements have been prepared in accordan with the provisions applicable to comFqnies subject lo the small cornpanies regime. The finanaal stalements were approved by the Trustees on 16 February 2022 Mrs B Kassir TN$tee Company Registration No. 04766548 19-
SYRIAN ORTHODOX CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY2021 2021 2020 Cash Ilows from operating a¢tlvltles Cash generated from operations 18 134.229 11,149 Investing a¢livities Puf¢h3se of tangible fixed assets Proceeds on disposal of tangib fixed assets Investment income received (22.547} 4,997 205.549 186.122 Net ¢ash generatsd from investlng a¢tivitie5 187,999 186,122 Flnancing a¢tiviti8s Repayment ol bank loans {417.8541 164.79]) Net cash used in flnanclng actlvities 1417,854) 164,7901 N•t Id•¢r¢aseyin¢r•as• in cash and cash equivalents {95,626) 132,481 Cash and cash equlvants at t*ginning of year 234,059 101,578 Cash and ¢h wuivalents at end of year 138,434 234.059
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY2021 Accounting policies Charity Information Syrian Orthodox Chuich is a private company limited by guarantee incorporated in England and Wdl The registered office is 7-11 Amslrong Road. London. 7JL. 1.1 Accounting conv•ntlon The financial statements have been prepared in accordarrE with the charrty's Igoveming dUmentI, the Companies Act 2(K, FRS 102 "The Financial Reporting Standar¢J appltsble in the UK and Republic ol Ireland" I'FRS 102.) and the Charits"es SORP "Accounting an¢J Reporting by Charities.. Statement ol Recommended Practice appluble to charth.es preparing their accounls in accordan with the Finan¢el Reporting Standard applicable in the UK and Republic of Irelan¢J (FRS 1021" (effective 1 January 2019). The charity Is a Public Benefit Enlrty as defined by FRS 102. The financial statements are ppared in stefling. which is the functional currenw of the charity. meLlry arnount5 in these financial Statements are rounded to the nearest £. The financial stslements have teen prepared under the historical cost o)nvention. modified to include the revalualion of freehold prOpertS and lo include investment pioperts.es and certain financial inslrumenls al fair value. The principal accounting poliues ajopted are set out beknw. 1.2 Going ¢on¢•rn At the lime of approving the financial statements. the trustees have a reasonable expectation th81 Ihe chanty has adequate sOurceS to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the gThJ concem basis of aeetsJnb"ng in preparing the financk41 statements. 1.3 Charitable funds Unrestricted fvnds are available for use at the dLwth"on of the trustees in furtherance of their charitable objectives. Restricted funds are subject lo Spear eondrtKJns by donors as to how they may be used. The purwses and uses of the restricted funds are set oul in the notes to the finanual ststements. Endowment funds are subj'ect to specffj conditions by donors ttt Ihe caprtal must be maint"ned by the charty. 1.4 Income Income is re¢o>3nised when the charity is legalty entsed lo r( after any performan condrtions have been met. th& amount$ can be measured reliabty. and il is probable that Ir)con will be recewed. Cash donations a recognised on receipL Other donal1S are reccJnised once the charity has been nolifd of the donation. unless perfomance condrtions qui deferral of Ihe amount. Income ts¥ recoverable in relat to donations received under Grfl or deeds of cean1 1$ rec(Jnised at the time of the donation. Legacie5 are recognised on reipt or olhepwise rf the charity has been no1rr of an impending distribulion, the amount is knvwn, and receipt is expected. If the amount is not knry•vn. the acY is Irealed as a contingent asset. -21-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 A¢counting policies IContlnu•dl 1.5 Exp•nditur• A liability. and the related expenditure, recojnised when a legal or constructive obligatn exists as a result of a past event. and when rt is more likely than not that a transfer of economic benefits will be required in settlement. and when the amunt of the Obla"¢)n be measured or reliab estimated. LIabilitS arising from future funding commthienls and e<JnslnJcbve t)blvJations, induding performance related granls, where the liming or the amount of the future expertdrtu requi to settle the obligation are uncertain, give rise lo a provision in the accoun15, which is revlewed al the accounting year end. The provision is increased lo reflect any increases in 1obilrtTres. and 1$ ¢Jeueased by the utilisation of any provision within the period, and reversed rf any proviwn is no longer required. These movements are charged or edited to the spe've funds and aCtrtieS to whth the provision relates. DI¢1 costs that are specifKally related to an aebwty are alk)&ed to that lmty. Shared direct $1S and support costs are apportioned between actmties. The basis for apporithrnent, which is consi%lenlly apPld, and prowrlK)nate lo the eircumstances, is:_ Slaffing- on the basis of tyne ¥ent in connection with any partthr Premises related costs - on the proportron of fftoor area o¢¢upie<l by a partrular a¢ts'vity. Non specific support W515 - on the basis of the usage of resources. in lemis of lime taken. capaty used. request made or other measu$ Ests"mth"on technvjues used In apFQrtioning costs- 1.6 Tangible fixed assets Tangible fixed assets are inilially measured al cost and subsequenuy measured at cost or valuabon. net ol depreciation and any impairment losses Depwialion is reeognised so as to write off the cost ¢y valUn of assets less the residual values ¢)ver their useful lives on the following bases- Freehokl land and buildin Plant and equipment Motor vehKles 2% on a straight line basis 20% on a slraighl line basis 25% on a straighl "ne basis The gain or loss ariwng on the disposal of an asset is delem)ined as ts dffterence beeen the sale proceeds arKI the earrying Val of the asset. and is recognised in the ststemenl of financial activities. 1.7 Impainnent of fixod ass•ts At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indicatton that those assets have suffered an impaimenl loss. If any such ind¢atn exists, the recoverab amount of the asset is estimated in order to detefmine the extent of the Im1rMenI loss Irf any). 1.8 Cash and cash ¢quivalents Cash and cash equivalents include cash in hand, deposrts held at call with banks, other short-lerm liquid investments with onginal maturitses of three nb)nths or less, and bank overdrafts Bank overdrafts or8 shown within t¥)rrowings in CUent liabilit5.
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021 Accounting policies IContinu•d) 1.9 Financial instruments The chaiity has elected lo apply the provIsnS of Secbon 11 'BaS Finanoal Instruments, arbd Section 12 'Othef Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial inslrurnent5 are recognised in the chanty's balance sheet when the charty bee£Jme$ p8ty lo the conlraclual provi5ion5 of the instrument Financial assets and liabilitss are offset. wrth the nel amunts psented in the financial statwnents, when there is a legally enforeeable rwJht to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simullaneoLt$ty- Bas1¢ financial a$$ets Basie financial assets. whbch indude debtOTS and cash and bank balances. a N)ilialty ttwsured at transaction pnce including Iransath'on costs and are subsequentty carried al amortised cost using the effective interest methcrtl unless the arfangement consb"lules a financing transaclion. where the transaction is measured al the present value of the future r1p1S discounted at a market rate of interest. Financial assets classrfied as rtteivable within one year are not amorts"sed. BaC financial liabilities Basic financial liabilities, Induding creditors and bank loans a initially recognised al transaction price unless Ihe arrangement consts"lules a finanung IransaclK)n, where the debt instrument is measLtred al the present value of the futu payments discounted * a market rale of interest. Financkil liabilities classtlied as payable within one yeaf are not amortrsed. Debt instruments are subsequenty Carried at amortised cost, usw Ihe effective interest rale methcd. Trade credilors are obligathS to pay for g)J$ or ServIS that have been acquired in the ordinary course of operations fr¢)m Suppl Arnounts payable are cLqssthed as rrent liabilitses if payment is due within one year or less. If not, trtey are psented as nOfi<unt liatrNlils. Trade creditors are ie¢ognised inilialty al Iransxtion price and subsequentty ffleasured al an0Sed cost using the effectNe interest meth&J. Derecognftion ol finan41 liabilities Financial liabilities are derecognised when the chanty's ntraCtual oblpJatKJns expire or are discharged or cancelled. 1.10 Taxation The Trustees consKler that the charity satisfS the tests set out in Paragraph 1 Schedule 6 of the Finance Acl 2010 for UK corporation tax purposes. Accordingty, the Chanty is potentially exempl from taxab.on in respect of income or capitsl gains receNed within categories covered by thapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gairys are appl exclu5ivety on the Spe¢rf charrtable obj.ects of the charity and br no other purpose. Value Added Tax is not recoverable by lh8 charity. and is therefore Induded in the relevant costs in the Statement of Financial Aclivth"es. 1.11 Employee benefits The cost of any unused holKJay entr1knt t5 recogni5ed in the period in whth the employee's service$ are receNed. Termination benefits are recognised immediatety as an expense when Ihe chaTIIy ts demonslrabty committed lo terminate the employmenl of an employee or lo provKle leminatton benefits. -23-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Accounting policies (Continued) 1.12 Retirement benerts Payments to defined contribution retirement benefit scheme5 are charged as an expense as they fall due. Crili¢al accounting estimates and judgements In the application of the chanty's accountt.ng wliues, the trustees a wuld to make judgements. eslimales and assumptions about the ¢arrying amount of assets and I"111$ that are not readily apparent from other sources. The estimates and a$srated assumplions are based on historical experience and other factors that are con&dered lo be relevant Acbjal results may dffier from these estimates. The eslinates and undedying assumptions are reVwed on an ongoiThJ basis. Revisions to accounting estimates are recc%Jnised in the period in which the estimate is revised where the revtsK)n affecis only that period, or in the perhxl of the reviwon and future periryjs where the rew5ion affects both cucrenl and futuie period5. -24-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Donations and legacies Unrestricted Unrestricted fund$ funds 2021 2020 Other 279,896 164,113 -25-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2021 Donallons and lega¢igs (Continued) Don•tions and Lega¢ios Curront year CurTent ear Current year PrforY•ar Unrvstrictsd Rostricted Funds Funds 2021 2021 2021 2020 Donations and ifts from individuals Small donations individualty less than £10 La la Richardson AS Tamo Basil Shamas D Xavier Dr R Makadsi & Mrs Y Askar E Mattie-sulieman Bassam Falehalla Hassan Khoory Mr S Sarsarn & Mrs LA Sarsam K Alshalan M Dawood Maryam Saad Dr MAAlfaham & Dr LN Alfaham M Shamryjn N Adbulahad N Auchi S Antoon Rassam & N A Rahou N Hawa Samira Smith Z8ghlol Kassab Zaid Aboudb SJH Hawa 60.173 60.173 5,650 1.000 2,000 2,OC 2,000 2.000 1.000 1,000 2.O¢Y) 1.000 2,000 3.000 1,0 1,000 4,500 1.000 3,500 1.500 1,350 1,000 3,500 1,500 1,350 1.000 3,000 1.500 3,000 1,000 1.000 4.500 2.OC¥) 119.845 1.01)0 1,000 2.000 119.845 Aid To The Church in Need Church IwJhting collections and cand Church Services Church collections from plates Total privats sector revenue S.OOD 970 3.060 29.569 62.249 12.260 19,493 235.621 12.260 19.493 235.621 vants Revenue grants & donations from non public bodies Dana Pharmacy T¢)tsl prlvate sector rnvènuè grants
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MAY2021 Charitable activili•s Sales ol Sales ol g¢>ods and goods and services ser¥ices 2021 2020 Sales wrthin charitabk actm'ties 1.608 28,040 Investments Unr•strlctèd Unrestricted lunds funds 2021 2020 Rental inc+Jrne from inve5trnent propety Intest receivable 205,543 186,090 32 205,549 186,122 -27-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Charitablo activities Charitable Charitabl• activities a$ xtivitie$ as a church a church 2021 2020 Staff costs Depreciation and impaim*nt Marketing and advertising C051 of go$ sold Bank ¢harges Loan interest Accountancy fees paid other than to the auditor Staff ITaining Motor expenses Other charitable expendilu 41.439 117,936 312 40,420 116,683 98 37,647 52 52,476 1,576 174 4,839 2.425 36,609 1,672 2,376 20,736 221.945 256.390 Share of supwt Costs (see note 7) Share of govemance costs Isee note 7) 49.030 4,057 38,963 6.590 275,032 301,943 -28-
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Support costs Support Govenb•nce Costs 2021 Support Govemance costs costs 2020 Rales and water charges Light heal and power Cleaning and waste management Premises fepaiTS, renewals and maintenan Propety insurance Equipment expenses SOfare linCeS and expenses Sundry expenses 1.793 4,341 1,793 4.341 6.936 5,007 6,936 5.007 39) 390 2.952 2.952 35.084 5.769 35.084 5.769 1.308 18,444 4.869 25 18.444 4.869 25 346 341 389 341 389 Audrt fees Legal and prOfeSsal 2.828 1.228 2,828 1,228 2,828 3,762 2.828 3,762 49,031 4.056 53,087 38,963 6,590 45,553 Anatysed betsveen Charitable activities 49,031 4.056 53.087 38.%3 6,590 45.553 Governance costs includes payments lo Ihe auditors of £2.82812020- £2.750) for audit fees. Trusloes None of the trustees lor any persons connected with th) received any remuneration or benefits from the charity during the year. Employees The average monlhty number of employees during the year was" 2021 Number 2020 Numbor
SYRIAN ORTHODOX CHURCH .NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Efflployoes Icontlnuedl Employment costs 2021 2020 Wages and salaries Social securty costs Other pension c051s 39,294 38,221 41 2,158 2.145 41,439 40,420 There were no employees whose afinual muneratn was more than £60,000. 10 Tangible flxed assèts Freehold land Plant and IAotor vehkles and buildings •quipme Totsl Cost Al 1 June 2020 Additions Oisposals 4.681.453 90.284 127 19.989 22,420 19.9891 4,791,726 22,547 {19.989} At 31 May 2021 4.681,453 90.411 22,420 4.794.284 Depreciation •nd irnp•irnient At 1 June 2020 DepreCiatn charged in the year Eliminated in respect of disposals 555.162 93.617 66.424 15,586 14,992 8.734 114,9921 636,578 117,937 114,9921 At 31 May 2021 648.779 82.010 8,734 739.523 Carrying •mount At 31 May 2021 4.032,674 8,401 13.686 4,054.761 At 31 May 2020 4.126,291 23,860 4,997 4,155.148 11 09btovs 2021 2020 Amounts falling due withln on• year: Trade debtors Prepayments and accrued inccvne 199 13,273 3,755 199 17.028
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MAY2021 12 Loans and ov•rdrafts 2021 2020 Bank loans 957.460 1,375,314 Payable within one year Payable aftef one year 40.826 916.634 56,S62 1,318.752 The long-term loans a secured by fixed charges over the prcfJerb"e5 of Syrian Orthodox Church. 13 Creditors- amounts falling due ¥thhlD on• year 2021 2020 Bank foans Other taxation and social security Trade creditors Aral$ and deferred income 12 40,826 711 716 56,562 738 4,395 3,788 42.739 65,483 14 Crgdltorn: arnounts falllng dug after rnorn than one year 2021 2020 Notes Bank loans 12 916,634 1,318,752 15 R•$triet•d fvnds The income fvnds of the charity indude restricted fund5 crynprising the folknwing unexpended baknces of donations and grants held on trust for $peaf purposes" Movement in funds Inc•miny B•i•nre at SOUT$ 1 Jun8 2020 Movwnent in fund$ Balance at rnsourc•s 31 May 2021 2.750 2,750 -31
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 16 Analysis of net assets between funds Unrestricted Restricted funds funds 2021 2021 Total Unre5trthd Restricted funds fund$ 2020 2020 Tolal 2021 2020 Fund balances al 31 ay 2021 are represented by". Tangible assets Current assetsl 4.054,761 4,054,761 4.155.148 4.155.148 93.144 1916.634) 2.750 95,894 185,604 (916,6341 {1,318,7521 185,604 11.318,7521 Long term liabilities 3,231.271 2,750 3.234.021 3.022.C 3.022.000 17 Relatod party transactions Transactions with related parties During the year the ¢harity entered into the following transa¢tr'ons relaled parties.. There was a loan from Mr AA-Khoury1£10,000} and B Kassir1£5.0001 t(Jth of whom are trustees to Syrian Orthdox Cchurch during the year under revMY. The following amounts were outstanding at the repJ1ing end date". Amounts owed to related partles 2021 2020 Trustees 15.c0 18 Cash gen•rnt•d from operations 2021 2020 Surplus for the year 212,021 77,717 Adjustrnents for.. Investment income reco9nised in statement of financial actmb.es Depreciation and impaimient of tangib fixed assets 1205.549) 117.936 1186,1221 116,683 Movements in working caprtal". Decrease in debtors {Oecreaseyinuease in ¢redilors 16.829 17.0081 2,870 Cash generated from operatlons 134,229 11,149
SYRIAN ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 19 Analy81$ of changes In net (debt)thinds At 1 ne 2020 Cath Ilows At 31 May 2021 Cash al bank and in hand 234,059 195.6251 138.434 Loans falling due within one year Loans falling due after more than one year 156,562) (1.318.752) 15.736 402,118 {40,8261 {916,6341 {1.141.2551 322,229 {819,0261