REGISTERED COMPANY NUMBER: 05059031 (England and Wales)
REGISTERED CHARITY NUMBER: 1108369
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Page |
|
Report of the Trustees |
1 |
to |
3 |
Independent Examiner's Report |
|
4 |
|
Statement of Financial Activities |
|
5 |
|
Balance Sheet |
|
6 |
|
Cash Flow Statement |
|
7 |
|
Notes to the Cash Flow Statement |
|
8 |
|
Notes to the Financial Statements |
9 |
to |
15 |
Detailed Statement of Financial Activities |
16 |
to |
17 |
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwiththe financial
statementsofthecharityfortheyearended31December2022.ThetrusteeshaveadoptedtheprovisionsofAccountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective and aims of the charity are:
TopreserveandpropagatetheChristianOrthodoxfaithandtraditionsascontainedintheHolyScriptures,aspractisedinthelifeof the
Church,asconfirmedbytheEcumenicalandlocalcouncilsandasinterpreted,preservedandtaughtbytheGreatChurchofChrist, the
Ecumenical Patriarchate of Constantinople.
TopreservetheoriginallanguageoftheNewTestamentinDivineWorshipandintheEcclesiasticallifeofthefaithful,andtominister to
thepeoplethroughcanonicalservicesconductedaccordingtotheorderoftheGreatChurchofConstantinoplebycanonicalpriests, and
through sermons and through catechism and Greek Language Schools.
To establish schools for the teaching of Greek Orthodox education.
ToreceiveintotheOrthodoxChristianfaith,byBaptismorCharismatic,allthosewhofreelydecideandsincerelydesiretoadopt the
Orthodox Christian faith, and to live in accordance with its spiritual and moral teaching.
Toundertakecharitableworkforthebenefitofthosewhoneedprotection,assistanceandmedicalcare,tomakegrants to
organisations (including schools and charities), to provide services (including care/counselling).
TosupportandtoassistinthecharitableobjectsoftheunincorporatedbodyknownasTheGreekOrthodoxCommunity"The Twelve
Apostles" Hertfordshire ( Registered Charity No:1049541).
The trustees are pleased to report that in their opinion the objectives were generally met.
Significant activities
The charity's significant activities are the Sunday services, weddings, christenings, dinner and dance functions.
Public benefit
Thetrusteesconfirmthattheyhavecompliedwiththeirdutytohaveregardtotheguidanceonpublicbenefitpublishedbythe Charity
Commission in exercising their function.
Volunteers
Alltrusteesperformtheirdutiesonavoluntarybasis.Ladiesofthecongregationhelpwithancillaryduties,includingcommunity care,
church functions and fundraising.
ACHIEVEMENT AND PERFORMANCE
Theresultsforthefinancialyearofthecharityareshownintheannexedfinancialstatements.TheTrustmanagedtocollect additional
donationsfromfollowersforthenewChurchextensionthatisunderdevelopment.Inaddition,therelaxationofrulesofCovid 19
pandemic assisted the Church to increase the income as additional followers attending the Church.
TheTrusteesareoptimisticthatafurtherincreaseindonationsreceivedintheyearendto31stofDecember2023sothatthe new
church extension to be finalised on time and with no financial constraints.
FINANCIAL REVIEW
Principal funding sources
TheCharitygeneratesincomefromavarietyofsources,principallyrelatedtoactivitiesbasedinandaroundtheChurch.Themajority of
incomeisderivedfromdonations,salesofcandles,collectionsandfeesforchurchservices.Inaddition,theCharitynormally organises
twoannualDinnerandDances,andotherfunctionsthroughouttheyearwhichgenerateadditionalincome,howeverdueto the
pandemic no events were held and therefore the income dropped.
Review of Charity's financial position
TheresultsoftheCharityaresetoutonPage5-11.TheTrusteesappliedthesamecontrolsonexpenses,butthefinancial statements
showasurplusof£259,062(2021:£59,030).TheTrusteesareconfidentthattheexpenditureswillbereducedasthedonationsto the
"TheTwelveApostles"willbeminimisedandsafeguardtheCharity'sabilitytogenerateforthcomingincome.Thedonationsforthe year
increased in total, as the members and the general public supported the Church's activities.
Witheffectfrom1July2005TheBoardagreedtoacceptdelegationfromTheGreekOrthodoxCommunity"TheTwelve Apostles"
Hertfordshire(CharityRegistrationNumber1049541)thatalltheoperationsfortheCharityincludingallincome,hireandlettingof the
premises, making all payments for running and administration.
Reserves policy
The Trustees reserves policy is to retain surplus funds to maintain sufficient working capital for the charity and its related charity.
Page 1
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
FUTURE PLANS
The Community Board's aims are:
A To attract younger members to our community.
B To improve the church grounds.
C To promote attendance at our Saturday morning services in English.
D To find local accommodation suitable for community and pastoral needs.
E To increase the capacity of the Church
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limitedbyguarantee,as defined
by the Companies Act 2006.
Recruitment and appointment of new trustees
ThetrusteesofthecharitywhoarealsotrusteesoftheunincorporatedbodyTheGreekOrthodoxCommunity"TheTwelve Apostles"
Hertfordshire (Registered Charity No:1049541) must be members of the Community.
Allmembersareeligibletostandforelection.Applicantsareappointedbyvotingandfourareselectedandappointedbyhis Eminence
theArchbishopofThyateiraandGreatBritaininconsultationwiththeparishpriest.Thetrusteeswillserveatermoftwoyears. The
trusteesarefamiliarwiththepracticalworkofthecharity.DuetoCovid19pandemictheArchbishopextendedthetermofthe trustees
for another year.
Organisational structure
ThecharityisgovernedbyitstrusteeswhocomprisetheCommunityBoard.TheCommunityBoardcomprisestheelectedmembers of
theunincorporatedbodyknownasTheGreekOrthodoxCommunity"TheTwelveApostles"Hertfordshire(Registered Charity
No.1049541).
ThemembersofthecharityarethepersonsservingontheCommunityBoard.EachpersonwhoisamemberoftheCommunity Board
shall,atthetimeofthisappointmenttotheCommunityBoard,becomeamemberofthecharityandonceasingtobeamemberof the
Community Board, for any reason, shall at the same cease to be a member of the charity.
TheTrusteesmeettentimesayeartoadministertheaffairsofthecharity.TheTrusteeselectaChairman,aVice-Chairman, a
Treasurer and a Secretary to carry out day-to-day functions.
Thepresidingpriestbyvirtueofhiscanonicalordinationadministersthepriestlydutieswhichconsistinshepherdingthe Parish
entrusted to his care, directing its orderly life, preserving its unity and keeping it faithful to its divine purpose.
The Trustees appoint sub-committees to develop, administer and promote fund raising, religious festivals and charitable causes.
Induction and training of new trustees
Alltrusteesarebriefedontheirlegalobligationsundercharityandcompanylaw,thecontentoftheMemorandumandArticles of
Association,thecommitteeanddecisionmakingprocesses,theprojectionsandrecentfinancialperformanceofthecharity.Atthe first
boardmeetingthetrusteeswillelecttheChair,TreasurerandSecretary.TheChairco-ordinatesallthecharity'sactivities including
meetings, functions, fund raising committees and liaises with the priest and staff.
TheTreasurermaintainsthefinancialrecords,managementreports,budgetingandthepreparationoffinancialstatements. The
Secretarymaintainstheminutesandcorrespondence.Allothertrusteesareonarotaforchurchservices,candlesales,collections and
fund raising.
Wider network
The charity is under the auspices of The Greek Archdiocese of Thyateira and Great Britain.
Related parties
ThecharityisgovernedbyitstrusteeswhoarealsoelectedmembersandtrusteesofTheGreekOrthodoxCommunity"The Twelve
Apostles" Hertfordshire and donates a substantial amount of its surplus to the unincorporated body.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05059031 (England and Wales)
Registered Charity number
1108369
Registered office
Church Kentish Lane
Brookmans Park
Hatfield
Hertfordshire
AL9 6NG
Page 2
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
Trustees |
|
Archbishop Nikitas of Thyateira & Great Britain |
Archbishop |
D A Liveras |
Management Trustee |
L Loizou |
Custodial Trustee-Chairman |
D Habeshis |
Management Trustee |
Y Nicholas |
Custodial Trustee |
M Pilina |
Management Trustee |
S Mastrides - Deceased 23 June 2022 |
Management Trustee-Assistant Treasurer |
S A Savva |
Management Trustee-Secretary |
J Chronias |
Management Trustee |
E Kritikos |
Management Trustee-Treasurer |
C D Constantinou |
Management Trustee |
S Economou |
Management Trustee |
E David-Harmanda - Resigned 15 May 2022 |
Management Trustee |
K Kyriakou |
Management Trustee |
T Liousas |
Management Trustee |
M Rodosthenous |
Management Trustee |
S Spyrou |
Management Trustee |
Company Secretary |
|
Mr S A Savva |
|
Independent Examiner |
|
G Christoforou |
|
AC Partners LLP |
|
Chartered Accountants |
|
869 High Road |
|
London |
|
N12 8QA |
|
Solicitors |
|
Nicholas & Co. |
|
18 Wigmore Street |
|
London |
|
W1U 2RG |
|
Bankers |
|
Barclays Bank plc |
|
33 Darkes Lane |
|
Potters Bar |
|
EN6 1BA |
|
CHARITABLE DONATIONS
Duringtheyearunderreview,thecharitydonated£13,677(2021:£149,424)tocharitablecauses,includingnetdonations£Nil (2021:
£132,027)totheunincorporatedcharityTheGreekOrthodoxCommunity"TheTwelveApostles"Hertfordshire(registeredCharity No.
1049541),£5,000(2021:£3,500)forArchdioceseofThyateiraGreatBritain,£5,000(2021:£Nil)forEcumenical Patriarch
Constantinople, £950 (2021: £Nil) for Essex Monastery and the balance to various charitable causes.
Approved by order of the board of trustees on 16 May 2023 and signed on its behalf by:
Mr L Loizou - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
Independent examiner's report to the trustees of The Greek Orthodox Community The Twelve Apostles Hertfordshire Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006Actandare eligible
forindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedoutunderSection145of the
CharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowedtheDirectionsgivenbytheCharity Commission
under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.IcanconfirmthatI am
qualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountantsinEnglandandWales, which
is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwiththeexaminationgiving me
cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshouldbedrawn in
this report in order to enable a proper understanding of the accounts to be reached.
G Christoforou
The Institute of Chartered Accountants in England and Wales
AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA
16 May 2023
Page 4
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Other trading activities
2
409,855
Other income
270
Total
410,125
EXPENDITURE ON
Raising funds
3
80,490
Charitable activities
4
Managing and Administering Charity
13,677
Other
200,192
Total
294,359
NET INCOME
115,766
RECONCILIATION OF FUNDS
Total funds brought forward
121,872
TOTAL FUNDS CARRIED FORWARD
237,638 |
Restricted
funds
£
143,296
-
143,296
-
-
-
-
143,296
6,500
149,796 |
2022
Total
funds
£
553,151
270
553,421
80,490
13,677
200,192
294,359
259,062
128,372
387,434 |
2021
Total
funds
£
417,534
31,021 |
|
|
|
448,555 |
|
|
|
51,158
149,424
188,943 |
|
|
|
389,525 |
|
|
|
59,030
69,342 |
|
|
|
128,372 |
The notes form part of these financial statements
Page 5
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
BALANCE SHEET
31 DECEMBER 2022
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
-
CURRENT ASSETS
Stocks
12
1,304
Debtors
13
78,175
Cash at bank
165,193
244,672
CREDITORS
Amounts falling due within one year
14
(7,034)
NET CURRENT ASSETS
237,638
TOTAL ASSETS LESS CURRENT LIABILITIES
237,638
NET ASSETS
237,638
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
226,059
226,059
(76,263)
149,796
149,796
149,796 |
2022
Total
funds
£
-
1,304
78,175
391,252
470,731
(83,297)
387,434
387,434
387,434
237,638
149,796
387,434 |
2021
Total
funds
£
210
1,431
36,681
101,505
139,617
(11,455)
128,162
128,372
128,372
121,872
6,500
128,372 |
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31 December 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31December2022 in
accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubjectto the
small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon16May2023andweresignedon its
behalf by:
Mr L Loizou - Trustee
The notes form part of these financial statements
Page 6
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
CASH FLOW STATEMENT
CASH FLOW STATEMENT |
|
FOR THE YEAR ENDED 31 DECEMBER 2022
2022
Notes
£
Cash flows from operating activities
Cash generated from operations
1
295,208
Net cash provided by operating activities
295,208
Change in cash and cash equivalents in the
reporting period
295,208
Cash and cash equivalents at the beginning
of the reporting period
2
96,044
Cash and cash equivalents at the end of the
reporting period
2
391,252 |
2021
£
39,713 |
|
39,713 |
|
|
|
39,713
56,331 |
|
96,044 |
The notes form part of these financial statements
Page 7
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement of Financia
Activities)
Adjustments for:
Depreciation charges
Decrease in stocks
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents
3.
ANALYSIS OF CHANGES IN NET FUNDS
A
Net cash
Cash at bank
Bank overdraft
Total |
l
t 1.1.22
C
£
101,505
(5,461)
96,044
96,044 |
2022
£
259,062
210
127
(41,494)
77,303
295,208
2022
£
391,252
-
391,252
ash flow
At
£
289,747
5,461
295,208
295,208 |
2021
£
59,030
210
1,327
(13,666)
(7,188)
39,713
2021
£
101,505
(5,461)
96,044
31.12.22
£
391,252
-
391,252
391,252 |
|
|
|
|
The notes form part of these financial statements
Page 8
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancialstatementshavebeenprepared under
the historical cost convention.
INCOME
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,itisprobable that
the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountofthe obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbutnot accrued
as expenditure.
ALLOCATION AND APPORTIONMENT OF COSTS
Costsareallocatedasgeneraloperatingexpensesunlesstheyareinregardtospecificactivitiesgeneratingincome,in which
case they are then allocated according to specific cost type.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings- 20% on cost
STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise when
specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharitable company's
pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2.
OTHER TRADING ACTIVITIES
|
2022 |
2021 |
|
£ |
£ |
Donations |
264,695 |
94,818 |
Membership |
3,125 |
2,865 |
Books |
7,424 |
5,643 |
Other Functions |
3,834 |
16,153 |
Candles |
54,179 |
50,851 |
Services |
85,315 |
80,573 |
Dinner and Dance |
10,908 |
- |
Ladies Auxiliary Functions |
3,217 |
3,106 |
Greek Evenings |
8,135 |
- |
Church Trip |
- |
2,190 |
Icons |
3,900 |
62,880 |
Collections |
108,419 |
98,455 |
|
553,151 |
417,534 |
continued...
Page 9
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022
3. RAISING FUNDS
RAISING DONATIONS AND LEGACIES
|
RAISING DONATIONS AND LEGACIES |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Candles |
21,140 |
15,550 |
|
Services |
56,289 |
24,234 |
|
Dinner and dance |
700 |
- |
|
Ladies auxiliary functions |
200 |
- |
|
Books |
2,034 |
5,573 |
|
Support costs |
- |
5,678 |
|
|
80,363 |
51,035 |
|
OTHER TRADING ACTIVITIES |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Opening stock |
1,431 |
1,554 |
|
Closing stock |
(1,304) |
(1,431) |
|
|
127 |
123 |
|
Aggregate amounts |
80,490 |
51,158 |
4. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Grant |
|
|
|
funding of |
|
|
|
activities |
|
|
|
(see note |
|
|
|
5) |
|
|
|
£ |
|
Managing and Administering Charity |
|
13,677 |
5. |
GRANTS PAYABLE |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Managing and Administering Charity |
13,677 |
149,424 |
|
The total grants paid to institutions during the year was as follows: |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Greek Orthodox Archdiocese of Thyateira and Great Britain |
5,000 |
3,500 |
|
Essex Monastery |
950 |
- |
|
Other charities |
7,727 |
145,924 |
|
|
13,677 |
149,424 |
continued...
Page 10
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
|
|
Governance |
|
|
Management |
Finance |
costs |
Totals |
|
£ |
£ |
£ |
£ |
Other resources expended |
197,359 |
1,198 |
1,635 |
200,192 |
Support costs, included in the above, are as follows: |
|
|
|
|
MANAGEMENT |
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
Other |
|
|
|
|
resources |
Total |
|
|
|
expended |
activities |
|
|
|
£ |
£ |
Wages |
|
|
125,189 |
117,199 |
Social security |
|
|
7,194 |
13,814 |
Pensions |
|
|
8,628 |
13,246 |
Rent and rates |
|
|
12,783 |
12,500 |
Insurance |
|
|
5,550 |
5,211 |
Light and heat |
|
|
7,363 |
7,387 |
Telephone |
|
|
2,469 |
2,477 |
Postage and stationery |
|
|
5,132 |
4,059 |
Repairs and renewals |
|
|
6,495 |
3,933 |
Computer expenses |
|
|
4,793 |
2,346 |
Travelling |
|
|
8,553 |
8,604 |
Accountancy Fees |
|
|
3,000 |
3,000 |
Depreciation of tangible and heritage assets |
|
|
210 |
210 |
|
|
|
197,359 |
193,986 |
FINANCE |
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
Other |
|
|
|
|
resources |
Total |
|
|
|
expended |
activities |
|
|
|
£ |
£ |
Bank charges |
|
|
1,198 |
431 |
GOVERNANCE COSTS |
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
Other |
|
|
|
|
resources |
Total |
|
|
|
expended |
activities |
|
|
|
£ |
£ |
Legal fees |
|
|
1,635 |
204 |
NET INCOME/(EXPENDITURE) |
|
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
Depreciation - owned assets |
|
|
210 |
210 |
7. NET INCOME/(EXPENDITURE)
continued...
Page 11
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022
8. TRUSTEES' REMUNERATION AND BENEFITS
DuringtheyearTheodorosLiousas,atrusteeofthecompanyreceived£3,000forhisservicesasaChanterofthe Church.
Therewerenoothertrustees'remunerationorotherbenefitsfortheyearended31December2022norfortheyearended 31
December 2022.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
9.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Priests
Secretarial
Administrative |
2022
£
125,189
7,194
8,628
141,011
2022
2
1
2
5 |
2021
£
117,199
13,814
13,246 |
|
|
144,259 |
|
|
2021
2
1
3
6 |
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Other trading activities
417,534
Other income
31,021
Total
448,555
EXPENDITURE ON
Raising funds
51,158
Charitable activities
Managing and Administering Charity
149,424
Other
188,943
Total
389,525
NET INCOME
59,030
RECONCILIATION OF FUNDS
Total funds brought forward
62,842
TOTAL FUNDS CARRIED FORWARD
121,872 |
Restricted
funds
£
-
-
-
-
-
-
-
-
6,500
6,500 |
Total
funds
£
417,534
31,021
448,555
51,158
149,424
188,943
389,525
59,030
69,342
128,372 |
|
|
|
continued...
Page 12
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
11. TANGIBLE FIXED ASSETS
COST
At 1 January 2022 and 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Social security and other taxes
Other creditors
Accrued expenses
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
16.
MOVEMENT IN FUNDS
Unrestricted funds
GENERAL FUND
Restricted funds
Church Extension
TOTAL FUNDS |
At 1.1.22
£
121,872
6,500
128,372 |
Fixtures
and
fittings
£
1,050
840
210
1,050
-
210
2022
2021
£
£
1,304
1,431
2022
2021
£
£
78,175
36,681
2022
2021
£
£
-
5,461
3,868
2,969
76,929
525
2,500
2,500
83,297
11,455
2022
2021
£
£
-
5,461
Net
movement
At
in funds
31.12.22
£
£
115,766
237,638
143,296
149,796
259,062
387,434 |
Fixtures
and
fittings
£
1,050
840
210
1,050
-
210
2022
2021
£
£
1,304
1,431
2022
2021
£
£
78,175
36,681
2022
2021
£
£
-
5,461
3,868
2,969
76,929
525
2,500
2,500
83,297
11,455
2022
2021
£
£
-
5,461
Net
movement
At
in funds
31.12.22
£
£
115,766
237,638
143,296
149,796
259,062
387,434 |
|
|
|
387,434 |
continued...
Page 13
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
GENERAL FUND
Restricted funds
Church Extension
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
GENERAL FUND
Restricted funds
Church Extension
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
GENERAL FUND
TOTAL FUNDS
A current year 12 months and prior year 12 months combined position is as fol
Unrestricted funds
GENERAL FUND
Restricted funds
Church Extension
TOTAL FUNDS |
Incoming
resources
£
410,125
143,296
553,421
At 1.1.21
£
62,842
6,500
69,342
Incoming
resources
£
448,555
448,555
lows:
At 1.1.21
£
62,842
6,500
69,342 |
Resources
Movement
expended
in funds
£
£
(294,359)
115,766
-
143,296
(294,359)
259,062
Net
movement
At
in funds
31.12.21
£
£
59,030
121,872
-
6,500
59,030
128,372
Resources
Movement
expended
in funds
£
£
(389,525)
59,030
(389,525)
59,030
Net
movement
At
in funds
31.12.22
£
£
174,796
237,638
143,296
149,796
318,092
387,434 |
ovement
in funds
£
115,766
143,296 |
|
|
|
259,062 |
|
|
|
387,434 |
continued...
Page 14
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
GENERAL FUND |
858,680 |
(683,884) |
174,796 |
Restricted funds |
|
|
|
Church Extension |
143,296 |
- |
143,296 |
TOTAL FUNDS |
1,001,976 |
(683,884) |
318,092 |
17. RELATED PARTY DISCLOSURES
Duringtheyear,thetrustmadedonationsamountingto£Nil(2021:£132,027),toTheGreekOrthodoxCommunity "The
Twelve Apostles" Hertfordshire.
The Trustees of the Trust are also Trustees of The Greek Orthodox Community " The Twelve Apostles" Hertfordshire.
Page 15
THE GREEK ORTHODOX COMMUNITY THE TWELVE
APOSTLES HERTFORDSHIRE TRUST
INCOME AND ENDOWMENTS
Other trading activities
Donations
Membership
Books
Other Functions
Candles
Services
Dinner and Dance
Ladies Auxiliary Functions
Greek Evenings
Church Trip
Icons
Collections
Other income
Other income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Candles
Services
Dinner and dance
Ladies auxiliary functions
Books
Other trading activities
Opening stock
Closing stock
Charitable activities
Grants to institutions
Support costs
Management
Wages
Social security
Pensions
Rent and rates
Insurance
Light and heat
Telephone
Postage and stationery
Repairs and renewals
Computer expenses
Travelling
Accountancy Fees
Fixtures and fittings
Finance
Bank charges |
DE |
TAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022
£
264,695
3,125
7,424
3,834
54,179
85,315
10,908
3,217
8,135
-
3,900
108,419
553,151
270
553,421
21,140
56,289
700
200
2,034
80,363
1,431
(1,304)
127
13,677
125,189
7,194
8,628
12,783
5,550
7,363
2,469
5,132
6,495
4,793
8,553
3,000
210
197,359
1,198 |
2021
£
94,818
2,865
5,643
16,153
50,851
80,573
-
3,106
-
2,190
62,880
98,455
417,534
31,021
448,555
15,550
24,234
-
-
5,573
45,357
1,554
(1,431)
123
149,424
117,199
13,814
13,246
12,500
5,211
7,387
2,477
4,059
3,933
2,346
8,604
3,000
210
193,986
431 |
|
|
|
|
|
This page does not form part of the statutory financial statements
Page 16
THE GREEK ORTHODOX COMMUNITY THE TWELVE APOSTLES HERTFORDSHIRE TRUST
|
DETAILED STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
FOR THE YEAR ENDED 31 DECEMBER 2022 |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
Finance |
|
|
|
Governance costs |
|
|
|
Legal fees |
|
1,635 |
204 |
Total resources expended |
|
294,359 |
389,525 |
Net income |
|
259,062 |
59,030 |
This page does not form part of the statutory financial statements
Page 17