Charity Registration No. 1107634 coM￿nY 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 AM￿trong Ro*J 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¢tiw1￿5 18 Balan￿ sheet 19 sL￿ement 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. s￿1￿ 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 commi￿lOn 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 legi￿ation 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 C￿npan￿$ 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 ￿onal￿n 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$tees are members of the church. Th& financial slatements have been wepared in accordan￿ with the accounb.ng policies sel out in note 1 to the financial statements and comply with the tharity's Igoveming documentl. the Companies Act 2006 and "Accounting and Reporting by Charittes.. Statement of Recommended Practice app1Kab￿ lo charities prepanng their a￿Ount$ 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.. B￿le 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 Ceremon￿S 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 prOVi￿On of a reskdence(s). 2. To hokl and otherwise promote religious meebngs an¢J confe￿1￿*$. 3. To help the needy in the United Kingdom and abroad. 4. To provi(Je spiritual. social. cuttural ano educational aclivths. 5 To teach and promote the Syrk*Aramaic language and herit4e. The trustees have had ward to the Charty Commission'5 gUVjan￿ on public benefit in managing the activities of the charity. SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MAY2021 The Short Temi and Longer Temi Aims and Obje¢tlves: The main obiectNe of the Chanty for the year 31 May 2021 las a￿vaYs) was to ensure thal the Charty remained solvent, accessible. and modem and at the heart of the communty and the Syriac ￿￿pIe living in the United Kingdom. To this end the Charty intend to keep a dose control on the finances. trying to reduce unnecessary expenditure and to enhan￿ stsrplus rr•)nies by investmg in rts properties. Also. the Charity ensures that it Pfowdes services to the communty to meet rts objethes as highlMJhted in ils Governing Document. In the financial review section of this Teport there is a de5criptton of the invesbnenl polic￿ and objectives estsblished by the trustees and Ihe exient to which ￿Cial environmental or ethical considerations are taken inlo ￿cOunt. Additionalty, the Charity continues to to" Continue being a seW-Sustainab￿ enterprise. Achieve and maintain a 9ood working ￿lat￿)nShiP wTh)ngst the trustees and with the clergy, Staff, volunteers and parishioners. Continue to interact with the church parishioners and communty with the aim of regular consultatson to idenlfy demands of provision and seNices. Encourage the thurch youths to lake more active roles in the lrfe of the church so they can contribute to its success by bringing their own ideas. They can also be trained to tske the responsibilitE$ of running the ChU￿h Charity in the future Support the Syrrac Seouts group. Th? Charfty's Strategles ft>r Ach5wing its Awn8 and Obiè¢tiv•g in tho Fu￿re. The main t)bjeclive of the Charity is lo maintain and provKle places of w0￿h1P 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￿$. St Mary's Chapel on the first flocsr is used mainly by the youth to attend church services in English. Sunday Schrjol Education and Music Leswns to the Syfiac Scouts group that subscribes to the British ScoulsAsSct￿I10n. The Charity's strategy to use its inveslment incotre to pay off soft￿ of the r￿rtgage and Ihus reducing the Inlefest on the loans. How the Activities Und•rtakon During ￿ Year Contributod to th• A¢hl¢v*m?nt of th• Aims and Oblectlves.. The calhedral building has provided large space lo allchv more parishioners to attend the church seryices. The charity is planning to install mowng partitions to allow the separat￿￿ of the sanctuary of the main chureh Spa￿ from extra space to the S￿e. Thi$ will help to organise drflerent fUnct￿n5 at times when th￿e 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$. The charity has organised several s(Kial events throughout the year such as b)xing day paty for the youth, new year party and Valentine paty. as well as gxial trTrps for all as well as eduCat￿nal trips for the youths. The events brought the community logether and alkxved them to meet others of the same denomination who settled in the UK recenlty of trom sisterty churches. SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Resour¢•$ 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 Serv￿eS 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 a￿anged 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 Ch￿￿h building at 1 Armstrong Road has provided ample space ￿ the parish￿nerS 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 refresh￿nIS. organising s￿la1 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￿ proteCt￿n 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 3l￿ay-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 rehab￿tste 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 IM￿Mented 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 Tel￿10n as wg11_ h. Sourcing local seMce$ and $h¢ys for ¢atering faolities and rna1ntenar￿. i. The established Synac scouts group engages with the West Londofi district and regional Y￿uts as well as intemalional scouts, organisations. Invited other S￿￿ts lojoin in the marching band. j. Inviting and attending mulli-failh and muWi-fvnction meetings and events by the clergy or members of the Syriac community. k. Obtained a sponsorship T2 and T5 license from the Home Office to recrurt one prEst and a religious worker from abroad. This is Valid until November 2024. i. stsrted lo implement the necessary Frf)lic*s. Some have completed and the remaining ones are under review. The policies are.. 1. Health and Safety Policy {publBhed). 2. Fire Policy Ipublishedl. 3. Safeguarding Policy {publishedl. 4. Equality Policy (published)_ 5. Finance Ipublishedl. 6. C¢)mplaints PoI￿Y {under review). 7. Recrurtment Poly (under review). 8. GDPR and Confidentsalty Poli￿ (under final review). SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 The degm to which the achievements and ￿rf0Mla￿c• during th• year hove b?nefit8d wlder socl8ty: Within the Christian wider 5wety, the charity provKled 5eMces in dffte￿fit cities like Manthester and Birmingham, Coventry. Wales, Scolknd, Ireland and Brighton. Some of those were of dtfferent denOMinat￿n$ mainly Orthodox and Catholic Iraqis who Share the same culbjre and language and who put denominational dbfference aside. This is a P￿tsve 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 aVaiLa￿e 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 Th￿aS Syriac Scouts. The ehaTty shared its and culture wrth other faiths and de￿MInat￿nS lo enhance an abnosphere of peace and tolerance. Varlous businesses benefited frrth prcyr￿ting 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 facilil*s 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 dOrtat￿s from its members. other supwteis and organisabons to help the needy and diS￿aCed peoFAe *Moad. The Charity with help from members organises S￿la1 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, Part￿ipate$ 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 prOV￿ed 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 e￿ed. 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{￿mIsS￿n. 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 benef￿al 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 Comm￿eeS 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 k￿k 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 Person1￿1. All the charity trustees are volunteers. They do not rewve payment or refflUnerat￿n 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 knOw￿ge. Whenever posts will be available there will be no discrwnirtation towards applicants erther as Pern￿nent 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 relat*Jnships 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 subsldiar￿s. 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 H￿h Street. Bfomley, Kent. BRI 1HE Barclays Bank PLC. Bardays Bu￿ness, 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, certrf￿d 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 propert￿5, 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 ch￿￿h at 1 Armstrong Road. AddIt￿nalty, 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 deVekSp￿nts. 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 h￿h 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 aNt￿pated after the complet￿n 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$te•s' Per&pe¢tiYe of the Future Direction of lh• Charity: 1. Plans lo enhance youth servtis via digital means. 2 A conslderalion lo purchase a building wilh L8nd in the ccMJnlrys•Je oulshle LoThYon lo c(￿vert lo a Monastery and 8 spiritual ￿treat cent￿ for the publi 3. To recruit one more prie51 andlor religious worker to support the cOngregat￿nS OLrtside London. 4. Plan and assist the clergy to establish more parishes UK w￿. 5. To fomi Scout groups in other parishes. 12- SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MAY2021 Statement of trusteès. responsibilitie8 The charity's Iruslees are responsible for the preparation of the accounts in accordance wrth the term5 of the Companies Act 2006, the CharitEs Act 2011 and the Chariks {Accounts and Reports) Regubations 2008. NO￿lth$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 CoMpan￿S Act 2006 and charity law require the Board of Trustees to prepare fi￿nCial 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 m*eriJ 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 $lb￿lus or deficit of the Ghaiity for the year. The Trustees are also responsible for maintsining adequate accounting records which disckjse with reasonable accuracy at any time the finantyal posrtion of the charity and which a￿ sufficient lo show and explain the charity's transaction5 and enable them to ensuTe that the financial sLitements compty wrth the Companies Act 20(￿ and comply with regulations made under the Charth"es Act. They are also responsi1￿e lor safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other ir￿UL￿rItIes. The Trustees are also respon&ble for the contents of the Trustees. report. and the statutory responsibility of the auditor in relation lo the Trustees. report is limited tr) examining the reFQrt and ensuring tha( the report is consistent with the figures disclosed in the finanaal s&*ements. Details of the Auditor: In accordance with the company's articles. a resolution proposing that Fawley j￿ge & Easton be reappointed as auditor of the company will be put at a General Meeting. 13- SYRIAN ORTHODOX CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2021 Disclosure of inforniation to auditor Thg Irustees state that so far as each of the trustee5 at the tme report was approved are aware" 1. There is no relevant audit information la5 defined by section 418(3) of the cCthpan￿s Act 20061 of which the auditors are unaware, and. 2. The trustees have taken all steps thal they ought lo have taken to make theMse￿e$ aware of any retevant audil information and establish that Ihe auditors are aware of that infom)atK)n. The truslee$' report was ¥proved by the Board of Trustees. DrA A143nised when the charity is legalty ents￿ed lo r( after any performan￿ condrtions have been met. th& amount$ can be measured reliabty. and il is probable that Ir)con￿ will be recewed. Cash donations a￿ recognised on receipL Other donal1￿S are recc*Jnised once the charity has been nolif*d of the donation. unless perfomance condrtions ￿qui￿ deferral of Ihe amount. Income ts¥ recoverable in relat￿ to donations received under Grfl or deeds of c￿e￿an1 1$ rec(*Jnised at the time of the donation. Legacie5 are recognised on re￿ipt 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 obligat￿n 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 Obl￿a￿"¢)n be measured or reliab￿ estimated. LIabilit￿S arising from future funding commthienls and eods 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 Inte￿st 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 SOf￿are li￿nCeS 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 prOfeSs￿al 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 ￿munerat￿n 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 DepreCiat￿n 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 A￿r￿al$ 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.c￿0 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