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← Syrian Orthodox Church

2025-05-31-accounts

Charity Registration No. 1107634 Company Registration No. 04766548 (England and Wales)

SYRIAN ORTHODOX CHURCH ANNUAL REPORT ; AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

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SYRIAN ORTHODOX CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION oe

Trustees Dr AAI-Khoury Dr S Henderson MrsMr MBKhooryKassir ; . DrZ Shamoon (resigned 26 January 2026)

Secretary Dr AAI-Khoury Charity number (England and Wales) 1107634 Company number 04766548 Registered office 7-11 Armstrong Road London W3 7JL .

Auditor Knight Goodhead Limited Chartered Accountants 7 Bournemouth Road Chandlers Ford Hampshire $053 3DA

SYRIAN ORTHODOX CHURCH

CONTENTS

Page
Trustees’ report 1-12
Statement of trustees’ responsibilities 13
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Independent auditor's report. 14
Statement of financial activities 18
Balance sheet 19-20
Statement of cash flows 21
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Notestothefinancialstatements 22-32

SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 MAY 2025

The trustees present their report and financial statements for the year ended 31 May 2025, which also comprises the Directors' Report required by the Companies Act 2006. .

The Charity Name:

The legal name of the charity is: Syrian Orthodox Church

The charity is also known by its operating name, Syriac Orthodox Church, Syriac Orthodox Church UK, Syrian Orthdox Church UK or SOC UK.

The Charity's Areas of Operation and UK Charitable Registration

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with the charity number 1107634.

Legal Structure of the Charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. .

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

The Principal Operating Address, Telephone Number, Email and Web Addresses of the Charity

The Synac Centre

7-11 Armstrong Road

London WS3 7JL

Telephone: 020 87495834

Email Address: Enquiry.24@syriacorthdox.church

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Web address: www.syriacorthodox.church

The registered office of the charity for Companies Act purposes is the same as the operating address shown above.

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SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

The Trustees in Office on the Date the Report was approved were:

Dr AAI-Khoury Mrs Z Hanna (Resigned 12 May 2025) Dr S Henderson Mrs B Kassir Mr M Khoory Dr Z Shamoon (Resigned 26 January 2026) At the Annual General Meeting no trustees retire from office.

Ali the trustees are members of the church.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

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SYRIAN ORTHODOX CHURCH

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Objectives and Activities of the Charity:

The Purposes of the Charity as Specified in its Governing Document:

The objects of the Charity, as stated in the governing document of the Charity, are to advance and promote the Christian Faith in accordance with the teachings and practices of the Syrian Orthodox Church of Antioch.

The Main Activities Undertaken in Relation to Those Purposes during the Year:

The Charity seeks to provide opportunities for people to contribute to the objectives, and offer the church's facilities for worship, and the church hall and centre hall for educational, cultural and social activities.

Significant activities are; Bible study, pastoral visits, ecumenical meetings, Language study, cultural lectures, festive gatherings, refreshments after the main church services, helping the elderly, few parties over the course of the year to bring the community together as well as supporting the church's youth with their activities.

Also, it provides the church hails for use by other people from the community as well as its use by a full day nursery by the local community.

The Main Activities Undertaken During the Year to Further the Charity's Purpose for the Public Benefit.

For the purpose of attaining the aforesaid objectives, but not otherwise, the Charity shall provide and maintain places of Christian worship to enable the officiating of sacraments and for the due performance of the rites of baptism, marriage, burial and other ceremonies according to the principles of the Syrian Orthodox Christian Faith.

For the purpose of attaining the aforesaid objectives, but not otherwise, the Charity may exercise the following powers:

  1. To provide and maintain the ministerial services of clergy (such as a bishop, corepiscopos, priest(s), or monk(s) including the provision of a residence(s).

  2. To expand and sustain its religious meetings and conferences.

  3. To hold and otherwise promote religious meetings and conferences. 4. To help the needy in the United Kingdom and abroad.

  4. To provide and expand the spiritual, social, cultural and educational activities.

  5. To teach and promote the Syriac/Aramaic language and heritage.

  6. To participate in ecumenical discussions.

  7. To participate in local/national events as appropriate.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

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; SYRIAN ORTHODOX CHURCH

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

The Short Term and Longer Term Aims and Objectives:

The main objective of the Charity for the year 31 May 2025 (as always) was to ensure that the Charity remained solvent, accessible, and modern and at the heart of the community and the Syriac people living in the United Kingdom. To this end the Charity intend to keep a close control on the finances, trying to reduce unnecessary expenditure and to enhance surplus monies by investing in its properties and reducing the mortgage loans.

Also, the Charity ensures that it provides services to the community to meet its objectives as highlighted in its Governing Document.

In the financial review section of this report there is a description of the investment policies and objectives established by the trustees and the extent to which social environmental or ethical considerations are taken into account.

Additionally, the Charity aims to:

The Charity's Strategies for Achieving Its Aims and Objectives in the Future: .

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The main objective of the Charity is to maintain and provide places of worship to the Syrian Orthodox parishioners. St Thomas Cathedral building at 1 Armstrong Road is continuing to provide ample space to allow the Syriac parishioners to attend church services. St Mary's Chapel on the first floor is used mainly by the youth for educational purposes e.g. Sunday School Education and Music Lessons to the Syriac Scouts group that subscribes to the British Scouts Association. Furthermore, the charity continues to liaise with sister churches in the Greater London area and in other cities to hire church buildings to help conduct church services. This is due to the increase in the number of the parishioner outside London. Regular monthly service are being held in places like New Malden, Brighton, Manchester and Birmingham.

How the Activities Undertaken During the Year Contributed to the Achievement of the Aims and Objectives:

The cathedral building has provided large space to allow more parishioners to attend the church services. The small church hall on the side with its moving partition has been fully utilised not only for refreshments, wakes and social activities but also provide further rental income due to the expansion of full day nursery.

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The charity has organised several social events throughout the year such as boxing day party for the youth, new year party and Valentine party, as well as picnics and pilgrimage trips, as well as educational activity trips for the youths. The events brought the community together and allowed them to meet others of the same denomination who settled in the UK recently or from sisterly churches.

Use the charity's rural property (The Oak, Bar Lane, Southwater, RH13 SDL) to provide spiritual retreat for meditation and some church services as well as conference facilities.

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SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Resources Used in the Activities Undertaken During the Year:

The hire of the big church hail at the Syriac Centre was restricted to church functions and large wakes during the weekends. The hall has been used for a couple of Folklore and fundraising events.

. The small hall holds the weekly serving of refreshments after the church services, as well as Language tuition once/twice a week bya local sister church

The charity has also subsidised the church's youth’s activities during the year - including youth workshops, online tuition and music tuition.

The Charity ensures adherence to Health & Safety issues, by updating its policies, raising awareness of opportunities to train and supporting its volunteer officers and maintenance staff as and when required to do so.

Social Investment Policies and How These Contributed to the Achievement of Charity's Aims and Objectives During the Year:

The investment properties owned by the Charity are rented out to elderly parishioners and needy households. The elderly parishioners are benefiting of being in close proximity to the church and enjoying being socially close to each other. The business start-up in one of the flats, continued to pay regular rent despite some difficulties towards the end of the financial year.

The hall at the Syriac Centre is rented to a Nursery for the local community to benefit from during week days. At the weekend the hall used for wakes by the parishioners and fundraising social events.

The provision of the rural property benefited the clergy to take respite from city life and to use il as a base to administer to the congregation in that area. It was used to house a summer conference for the youth. It also provided a vast expanse for the community to gather for picnics, games, cultural performances and fundraising events. We also used the Coptic Church Centre in Stevenage for the conference of the Syriac youth from the UK and Europe, and our charity made a donation in-lieu.

The Contribution of Volunteers during the Year:

The charity is run and administered by the volunteering trustees of the charity. They are assisted by other’ volunteers from within the church community and organised into committees / teams. The volunteering teams help with some of the activities such as; providing refreshments, organising social gatherings, parties and social trips; Sunday school duties, media and communications, engineering advice, and buildings’ maintenance, insurance advice and liaison, cashiers and bookkeeping, as well as the Health & Safety and Fire protection duties. Some volunteers also come together occasionally to do thorough cleaning of religious areas and icons especially before special occasions and festivities.

Achievements and performance

The Main Achievements and Performance of the Charity during the Year: The Charity relies on regular donations from its members as well as grant aid from donors identified in the accounts, whose support is valued.

The main achievements and performance of the charity in the year ending 31-May-2025:

  1. The charity has managed pay off the HSBC mortgage shortly after the year end on St Thomas Cathedral building (1 Armstrong Road, London, W3 7JL) and releasing the charge on it.

  2. Maintained the existing policies.

  3. Maintained and monitored the DBS for all people in positions of responsibility.

  4. Ensured that the maintenance and upkeep of the charity's properties.

  5. Continue to support British Syriac Scouts music band.

  6. Ensured the salaries of the clergy are in line with minimum wage rules.

  7. Contributed towards the English language tuition for a prospective deacon to become a future clergy during his visit to the UK for six months.

  8. Continued funding support for London North West NHS for research into Covid-19.

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SYRIAN ORTHODOX CHURCH

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

The Difference the charity's Performance during the Year has made to the Beneficiaries of the Charity and Wider Society:

During the year the Chanty has:

  1. Sustained places of worship according to the Syriac Orthodox Rite for the people.

  2. Maintained the ministerial services of the clergy. .

  3. Arranged meetings and conferences to publicise the Christian Faith according to the Syriac Orthodox Faith and to promote and educate about the Syriac language, culture and heritage.

  4. Provided assistance for the needy people in the United Kingdom and abroad.

  5. Letting the nursery to big Centre hall. Thus enabling the local families of all faiths and none to benefit their children and also to volunteer.

  6. Enhanced the safety of its properties and provided prompt and consistent maintenance support for its tenants, and keeping the area in good standard.

  7. Sourcing local services and shops for catering facilities and maintenance.

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  1. The success of the Syriac scouts music group has attracted more children to join thus enhancing their confidence and sense of worth and belonging to the community.

  2. Inviting and attending multi-faith and multi-function meetings and events by the clergy or members of the Syriac community.

  3. Implement the necessary policies and reviewing the remaining ones.

The degree to which the achievements and performance during the year have benefited wider society:

Within the Christian wider society, the charity provided services in different cities like Brighton, Hove, Manchester, Birmingham, Coventry, Wales, Scotland. Some of those were of mixed denominations mainly Orthodox and Catholic who share the same culture and language and who put denominational difference aside. This is a positive step towards unity in Christ.

Visiting clergy from outside the UK continue to benefit from hospitality at the Syriac Centre.

The Scouts Association benefited from our membership as St Thomas Syriac Scouts.

The charity shared its views and culture with other faiths and denominations to enhance an atmosphere of peace and tolerance.

Donation to our sisterly St Mary Assyrian Cathedral (Ealing, London).

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SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

The Significant Charitable Activities Undertaken in the Year:

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The Charity assists with the smooth running of the church to allow the parishioners to practice their faith. Also, it assists with publishing news about the church activities its members.

It helps to provide the facilities for the parishioners as well as the local community to use the Charity's premises such as a day care nursery.

The Charity, from time to time, oversees the collection of donations from its members, other supporters and organisations to help the needy and displaced people and those suffering from natural disasters abroad.

The Charity with help from its members organises social events, parties and trips.

The Charity attends meeting of other similar organisations and collaborate with other churches to help the people in need.

The Charity, through its clergy, participates in meetings to promote the spirit of ecumenism and to advance peace in the world especially the Middle East.

The Charity is still contributing financially to support NHS research efforts on Covid-19.

How the Achievements during the Year Measure up to the Objectives Set: 1. The provision of further sustainability to the Charity income and helped to meet the demand of the local community.

  1. The rental properties are bringing in sustainable income and satisfied tenants.

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  1. The upstairs church (1st floor at 1 Armstrong Road) is being used for Educational and cultural purposes: Sunday school, music lessons etc.

  2. The Rural property is providing support for the spiritual welfare of the clergy and also a welcome retreat for the congregation during the spring and summer months.

Investment Performance against the Investment Objectives:

The income from the rent of the flats in the Syriac Centre (now 7 in total) plus the Nursery as well as from the rent of the two properties at 33 Old Oak Road and 52 First Avenue, continue to provide the charity’s financial plan. This is in addition to the continuous generous donations from parishioners and friends.

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SYRIAN ORTHODOX CHURCH

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TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Structure, governance and management

The Methods Used to Recruit and Appoint New Charity Trustees:

Trustees are selected based on the Members section of the Charity's Article of Association. New trustees can be added provided that their total number does not exceed eight at present. The existing trustees announce the need to elect new trustees to the charity within a reasonable time.

Nominations are invited from eligible parishioners by submitting brief CV and future working plan on how to help improve the running of the charity.

During a General Meeting, the charity members will vote to elect the trustees if the number of the nominations exceeds seven, otherwise, if the number is seven or less, then the nominees will be considered elected.

The Policies and Procedures for the Induction and Training of Trustees:

The procedure for the training of trustees is to provide each one with “The Essential Trustee" publication that is provided by the Charity Commission. .

The Charity’s policies are:

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  1. Health and Safety Policy (published).

  2. Fire Policy (published).

  3. Safeguarding Policy (published).

  4. Equality Policy (published).

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  1. Finance (published).

  2. Complaints Policy (under review).

  3. Recruitment Policy (under review).

  4. GDPR and Confidentiality Policy (under further review).

The Charity has seven approved DBS personnel. Provision are being prepared for all those who will be in contact with vulnerable people to obtain DBS checks. A new safeguarding procedure has been circulated to the trustees.

Fire Risk Assessment has been updated and being implemented accordingly. A Fire Policy, and Evacuation procedure are in place.

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Installation of a defibrillator, which registered and monitored, inside St Thomas Cathedral building.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Charity's Organisational Structure and How the Charity Makes Decisions and Delegates:

The Charity’s board of Trustees acts as a Management Team.

The Board of Directors (Trustees) can form sub-groups. The sub-groups can be led by one or more trustees and joined by volunteering members of the charity appointed in consultation with the Bishop from within the parishioners to form joint committees. The joint committees will help the Trustees in the day to day running of various church activities and responsible for implementing policies.

The final decisions are taken by the charity trustees and sometimes after consulting the church’s archbishop.

The Trustees along with those members of the committees can also form other sub committees with other volunteers from within the church parishioners to look after spiritual, social, cultural and other needs and requirements of the church and its people in different parts of the UK.

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SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

The Chief Executive Officer and Other Senior Management Personnel to Whom Day to Day Management is Delegated:

All the Trustees of the Charity work collectively to manage the day to day work of Charity.

Setting Pay and Remuneration of Key Management Personnel:

All the charity trustees are volunteers. They do not receive payment or remuneration from the charity.

Employment of Disabled Persons:

The charity employs clergy personnel only. At present, the charity employs less than 5 and none of them is registered as a disabled person to the Charity’s best of knowledge.

Whenever posts will be available there will be no discrimination towards applicants either as permanent members of staff or as volunteers.

The Charity as a Part of a Wider Network:

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The Charity has no responsibility for nor is it answerable to any other organisation.

The Charity as part of its relationships with other groups, charities and individuals is prepared to provide them with space and support when required if it is possible, for which they will incur a fee.

Occasionally, the Charity may provide the space at a reduced rate depending on need and ability to pay with the provision that the applicant should be member of the Charity, local community or charities of benefit to our Charity or local community.

The Syrian Orthodox Church is a charitable company and does not have subsidiaries.

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SYRIAN ORTHODOX CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Financial review

The Trustees’ Bankers and Advisors:

Bankers: HSBC Bank, 184 High Street, Bromley, Kent, BR1 1HE Barclays Bank PLC, Barclays Business, 81/83 Victoria Road, Surbiton, Surrey, KT6 4PD Solicitors Attwells Solicitors LLP, 88 St John’s Wood High Street, London, NW8 7SH Accountant Bassam Sara, B.S Accounts Ltd, 15 Ranfurly Road, Sutton, Surrey, SM1 3JB

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The Charity’s Financial Position at the End of the Year Ended 31 May 2025

The financial position of the charity at 31 May 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

2025 2024 £ £ Net income : 166,441 200,577

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Unrestricted Revenue Funds 4,692,150 4,527,289
available for the general purposes of
the charity ‘
Restricted Revenue Funds 1,580 0
Total Funds 4,693,730 4,527,289
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The board of trustees are satisfied with the performance of the charity during the year and the position at 31 May 2025 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

The Statement of Financial Activities show net incoming resources for the year of a revenue nature of £166,441 (prior year - £200,577) and net realised incoming resources of a capital nature of £nil (prior year Enil), making net overall realised incoming resources of £166,441 (prior year - £200,577).

‘The total reserves at the year’s end stand at £4,693,730 (prior year £4,527,289)

Free unrestricted liquid reserves were £184,106 (prior year £103,688).

Specific changes in fixed assets are detailed in the notes to the accounts.

Policies on Reserves:

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The charity has total free unrestricted liquid reserves of £184,106 at the year end, non liquid reserves of £4,508,044 of which is invested in the charity’s properties. The trustees have resolved to establish reserves excluding funds required for the property to provide for future activities, and to provide funding for the expected unrestricted expenditure for six month ahead in the sum of £160,000.

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SYRIAN ORTHODOX CHURCH

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Availability and Adequacy of Assets of Each of the Funds:

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund, when taken with known future income streams.

Investment Policy and Investment Objectives:

The current financial policy is to use the new renovated building and the income generated by the existing and future assets to further the objects of the charity.

Risks and Uncertainties Facing the Charity:

The identified risks are those related to continuous renovation work and improvements.

The income from renting the hall to the day nursery may be affected by Ofsted special measures. This could lead to reduction in the money generated by the rent.

This risk is mitigated by the fact that; the charity owns its assets, which are freeholds, and it has a pro-active management committee to oversee ali future reviews and developments.

Furthermore, the professional image of the charity is well established. This is itlustrated by the expansion of its assets and the amount of donations contributed by its members and other donors. Moreover, the charity has been acknowledged by other organisations and several high profiled people.

There is a difficulty in getting members to commit time for the meetings and actual work. This leads to the work load being shouldered by few members.

Risks may arise relating to the differences between the Christian faith and secular Government policies. The Charity will have to abide by the Church’s Christian dogma.

Factors Likely to Affect Future Financial Performance:

The church parishioners are known to rally around if there will be future project to help the community or in response to an appeal to help needy people, or to raise donations or provide loans when there is a need to purchase or renovate a property.

Principal Funding Sources in the Year and How These Support the Key Objectives of the Charity:

Donations were received from a variety of sources, and these are set out in detail in the notes to the accounts.

Plans for the Future

Summary of Plans for the Future and the Trustees’ Perspective of the Future Direction of the Charity:

  1. Installation of a defibrillator, which registered and monitored, inside St Thomas Cathedral building.

  2. Plans to upgrade the rural property buildings and enhance the community activities to use the space more effectively.

  3. To recruit one more priest and/or religious worker to support the congregations outside London.

  4. Plan and assist the clergy to establish more parishes UK wide.

  5. To form Scout groups in other parishes.

  6. Ensure continued support for overseas families especially victims of disasters.

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SYRIAN ORTHODOX CHURCH

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Details of the Auditor:

In accordance with the company's articles, a resolution proposing that Knight Goodhead Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

The trustees' report was approved by the Board of Trustees.

Dr AAl-Khoury Trustee

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Dated: 9 January 2026

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SYRIAN ORTHODOX CHURCH

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY 2025

The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.

The Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ;

The Trustees are also responsible for the contents of the Trustees’ report, and the statutory responsibility of the auditor in relation to the Trustees’ report is limited to examining the report and ensuring that, the report is consistent with the figures disclosed in the financial statements.

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INDEPENDENT AUDITORS’ REPORT

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TO THE MEMBERS OF SYRIAN ORTHODOX CHURCH

(Company limited by guarantee and not having a share capital)

Opinion

We have audited the financial statements of Syrian Orthodox Church for the year ended 31 May 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cashflow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable to the UK and Republic of treland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Emphasis of Matter

We draw your attention to Note 24 to the financial statements which describes the restatements of prior year balances as a result of misstatements for the year ended 31 May 2024 that were identified during our audit. Our opinion is not modified in respect of this matter.

Basis of opinion

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We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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In auditing the financial statements, we have‘concluded that the trustees’ use of the going concern basis of. accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SYRIAN ORTHODOX CHURCH (Company limited by guarantee and not having a share capital)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SYRIAN ORTHODOX CHURCH (Company limited by guarantee and not having a share capital)

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Auditor’s responsibilities for the audit of the financial statements

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We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

.

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the charitable company through discussions with trustees and other management and we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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INDEPENDENT AUDITORS' REPORT

TO THE MEMBERS OF SYRIAN ORTHODOX CHURCH

(Company limited by guarantee and not having a share capital)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-sresponsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for This description forms part of our auditor’s report. Knight Goodhead Limited is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s 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 charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

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Exgbestixa
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17-Mar-2026

CJ Goodhead FCA Senior Statutory Auditor Knight Goodhead Limited Chartered Accountants and Statutory Auditors

7 Bournemouth Road, Chandler’s Ford, Eastleigh, Hampshire, $053 3DA

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SYRIAN ORTHODOX CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

Restated
Unrestricted Restricted Total Unrestricted
funds funds funds funds
2025 2025 2025 2024
Notes £ £ £ £
Income from:
Donations and legacies 3 187,997 9,675 197,672 215,138
Investments 4 253,876 - 253,876 243,497
Total income 441,873 9,675 451,548 458,635
Expenditure on:
Charitable activities 5 277,012 8,095 285,107 258,058
Total expenditure 277,012 8,095 285,107 258,058
Net income and movement in funds 164,861 1,580 166,441 200,577
Reconciliation of funds:
Fund balances at 1 June 2024 4,527,289 - 4,527,289 4,326,712
Fundbalancesat31May2025 4,692,150 1,580 4,693,730 4,527,289

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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SYRIAN ORTHODOX CHURCH

BALANCE SHEET

AS AT 31 MAY 2025

‘

Restated
2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 11 3,450,665 3,507,589
Investment properties 12 1,610,000 1,610,000
;
5,060,665 5,117,589
Current assets
Debtors 13 19,838 -
Cash atbank and in hand 164,505 105,360
184,343 105,360
Creditors: amounts falling due within
one year 15 (163,129) . (36,449)
Net current assets 21,214 68,911
Total assets less current liabilities 5,081,879 5,186,500
Creditors: amounts falling due after
more than one year 16 (388,149) (659,211)
Net assets 4,693,730 4,527,289
Income funds
Restricted funds 18 1,580 -
Unrestricted funds 19 4,692,150 4,527,289 :
4,693,730 4,527,289

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SYRIAN ORTHODOX CHURCH

,

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2025

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 16-Mar-2026

Mrs B Kassir

Trustee

Company Registration No. 04766548

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SYRIAN ORTHODOX CHURCH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash (absorbed by)/generated from 22
operations (29,671) 30,892
Investing activities
Purchase of tangible fixed assets (14,447) (10,599)
Investment income received 253,876 243,497
Netcash generated from investing
activities 239,429 232,898
Financing activities
Repayment of bank loans (172,995) (308,365)
Interest on loans 22,382 30,000
Netcash used in financing activities (150,613) (278,365)
Net increase/(decrease) in cash and cash
equivalents 59,145 (14,575)
Cash and cash equivalents at beginning ofyear 105,360 119,935
Cashandcashequivalentsatendofyear - 164,505 105,360

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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

_ Charity information Syrian Orthodox Church is a private company limited by guarantee incorporated in England and Wales. The registered office is 7-11 Armstrong Road, London, W3 7JL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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(Continued)
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Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-

Staffing - on the basis of time spent in connection with any particular activity.

Premises related costs - on the proportion of floor area occupied by a particular activity.

Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures

Estimation techniques used in apportioning costs - none

1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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Freehold buildings 2% on a Straight line basis
Plant and equipment 20% ona straight line basis
Motor vehicles 25% on a straight line basis
Freehold land Not depreciated
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7. Investment property Investment properties that form part of the same estate as the tangible charitable fixed assets are included within fixed assets. Other investment properties are shown at their market value at the balance sheet. :

The FRS102 SORP at paragraph 10.47 permits this treatment in relation to a mixed freehold estate.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

.

(Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right 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 simultaneously.

Basic financial assets . Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities ,

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

:

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

41 Accounting policies

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(Continued)
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1.12 Employee benefits

. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits -

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

. In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that , ~ period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Other 187,997 9,675 197,672 215,138 - 215,138
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:

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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

4 Investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income from investment property 253,825 243,460
Interest receivable 51 37
253,876 243,497

5 Expenditure on charitable activities

:

Restated
2025 2024
£ £
Direct costs
Staff costs 71,879 68,122
Depreciation and impairment 71,371 73,591
Cost ofgoods and services 3,300 2,551
Loan interest 22,382 30,000
Accountancy fees 4,314 3,108.
Sundry expenses §,904 4,385
Other charitable expenditure 42,271 36,964
221,421 218,721
Share ofsupportand governance costs (see note 6)
Support 49,192 36,367
Governance 14,494 2,970
285,107 258,058
Analysis by fund
Unrestricted funds 277,012 258,058
Restricted funds 8,095 -
285,107 258,058

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,

:

SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

----- Start of picture text -----
,
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----- Start of picture text -----
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |6|Support|costs| |Support|Governance|2025Support|costs|Governance|2024| |costs|costs|costs| |;|£|£|£|£|£|£| |Rates|and|water charges|4,682|-|4,682|5,019|-|5,019| |Light|heat|and|power|17,178|-|17,178|9,183|-|9,183| |Premises|repairs,| |renewals|and| |maintenance|18,265|-|18,265|13,525|-|13,525|:| |Property|insurance|6,954|-|6,954|6,590|-|6,590| |Stationery|and|printing|-|-|-|1,140|-|1,140| |Equipment|expenses|1,105|-|1,105|220|-|220| |Software|licences|and|.| |expenses|908|-|908|690|-|690| |Sundry|expenses|100|-|100|-|-|-| |Audit|fees|-|5,400|5,400|-|2,820|2,820| |Legal|and|professional|-|9,094|9,094|-|150|150| |49,192|14,494|63,686|36,367|2,970|39,337| |Analysed|between| |Charitable|activities|49,192|14,494|63,686|36,367|2,970|39,337| |Governance|costs|includes|payments|to|the|auditors|of £5,400|(2024-|£2,820)|for|audit|fees.|

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7 Net movement in funds 2025 2024 £ £ The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements 5,400 2,820 Depreciation of owned tangible fixed assets 71,371 73,591

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

----- Start of picture text -----
2025 2024
Number Number
2 2
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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

9 Employees (Continued)
Employment costs ; . 2025 2024
£ £
Wages and salaries 67,597 64,080
Other pension costs 4,282 4,042
71,879 68,122

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personne!

;

The remuneration of key management personnel was as follows:

10 Taxation

The charity is exempt from taxation on.its activities because all its income is applied for charitable purposes.

  1. Tangible fixed assets

;

11. Tangible fixed assets
Freehold land
and buildings		 Plantand
equipment		 Motor
vehicles		 Total
£ £ £ £
Cost
At 1 June 2024 (restated) 4,158,523 101,250 22,420 4,282,193
Additions - 14,447 - 14,447
At 31 May 2025 4,158,523 115,697 22,420 4,296,640
Depreciation and impairment
At 1 June 2024 (restated) 655,097 97,321 22,186 774,604
Depreciation charged in the year 66,170 4,968 233 71,371
At 31 May 2025 721,267 102,289 22,419 845,975
Carrying amount
At 31 May 2025 3,437,256 13,408 1 3,450,665
At 31 May 2024 3,503,426 3,929 234 3,507,589
12 Investment property
: 2025
. £
Fair value
At1June2024and31May2025 1,610,000

Investment property was valued on 7 June 2021 by White + Co Chartered Surveyors. The value of £1,610,000 relates to 52 First Avenue, W3 7JW and 33 Old Oak Road, W3 7JW. The historical cost of the properties were £1,372,931. 7-11 Armstrong Road was part rental property part church. This is included within fixed assets.

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SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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||||||||| |---|---|---|---|---|---|---|---| |,| |13|Debtors| |2025|2024| |Amounts|falling|due within|one|year:|.|£|£| |Prepayments|and|accrued|income|19,838|-| |14|Loans|and|overdrafts|Restated| |2025|2024| |£|£| |Bank|loans|274,212|364,825| |Loans|due|to|members|;|265,000|325,000| |§39,212|689,825| |Payable|in|less|than|one|year|151,063|30,614| |Payable|after one|year|.|388,149|659,211|

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The bank loans are secured by fixed charges over the properties of Syrian Orthodox Church.

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |15|Creditors:|amounts|falling|due|within|one year|Restated| |2025|2024| |£|£| |Bank|loans|151,063|30,614| |Other|taxation|and|social|security|;|909|909| |Trade|creditors|4,614|960| |Accruals|and|deferred|income|.|6,543|3,966| |163,129|36,449| |16|Creditors:|amounts|falling|due|after more than|one year|Restated| |2025|2024| |Notes|£|£| |Loans|14|388,149|659,211| |17|Retirement|benefit|schemes| |2025|2024| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|4,282|4,042|

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The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

.

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,

.

SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

,

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 June Incoming Resources At 31 May
2024 resources expended 2025
£ £ £ £
Restricted fund Lent 25 - 9,675 (8,095) 1,580

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At1 June Incoming Resources Transfers At 31 May
2024 resources expended 2025
£ £ £ £
Designated funds .
Property 4,423,601 - (88,552) 172,995 4,508,044
General! funds 103,688 441,873 (188,460) (172,995) 184,106
Total unrestricted funds 4,527,289 441,873 (277,012) - 4,692,150
Designated property funds represent the net book value of property less outstanding loans.
Previous year: Restated Attd
7023		 Incoming
resourceS		 Resources
expended		 Transfers At31 May
2024
£ £ £ £ £
Designated funds
Property 4,207,785 - (96,170) 311,986 4,423,601
General funds 118,927 458,635 (161,888) (311,986) 103,688
Total unrestricted funds 4,326,712 458,635 (258,058) - 4,527,289
20 Analysis of netassets between funds Unrestricted
funds		 Restricted
funds		 Total
2025 2025 2025
;
At 31 May 2025: £ £
Tangible assets . 3,450,665 - 3,450,665
Investment properties ; 1,610,000 - 1,610,000
Current assets/(liabilities) 19,634 1,580 21,214
Long term liabilities ; (388,149) - (388,149)
4,692,150 1,580 4,693,730

-30-

SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

20 Analysis of net assets between funds

(Continued)

Unrestricted Restricted Total
funds funds
, 2024 2024 2024
£ £ £
At 31 May 2024:
Tangible assets 3,507,589 - 3,507,589
Investment properties 1,610,000 - 1,610,000
Current assets/(liabilities) 99,525 - 99,525
: Long term liabilities (689,825) - (689,825)
4,527,289 - 4,527,289

21 ~~‘Related party transactions

The following amounts were outstanding at the reporting end date:

Amounts owed to related
parties
2025		 Restated
2024
£ £
Trustees 125,000 125,000
22 Cash (absorbed by)/generated from operations 2025 2024
£ £
Surplus forthe year 166,441 200,577
Adjustments for:
Investment income recognised in statement of financial activities (253,876) (243,497)
Depreciation and impairment oftangible fixed assets 71,371 73,591
Movements inworking capital:
(Increase)/decrease in debtors (19,838) 740 —-
Increase/(decrease) in creditors 6,231 (519)
Cash(absorbedby)/generatedfromoperations (29,671) 30,892

-31-

&

.

,

SYRIAN ORTHODOX CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 ,

.

23. =~Analysis ofchanges in net (debt)/funds
At 1 June 2024 Cash flows At 31 May 2025
£ £. £
Cash at bank and in hand 105,360 $9,145 164,505
Loans (689,825) 160,613 (539,212)
(584,465) 209,758 (374,707)

;

24 Restatementof prior year

The prior year comparatives have been restated to include investment properties at market value. The impact of the restatement was an increase in unrestricted funds of £511,362.

The increase in funds relates to an increase in the cost of the assets of £237,069 and a reversal of depreciation previously charged of £274,293.

In addition the prior year comparatives have been restated to split bank loans due within one year and those due after more than one year. This does not impact the total funds.

_