Charity Registration No: 1118441
DEBRE MEDHANIT KIDUS AMANUEL ETHIOPIAN ORTHODOX TEWAHEDO CHURCH IN BIRMINGHAM
Trustees' financial statements For the Year ended 31.03.2024
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham For the Year ended 31 March 2024
| Page | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Legal and administrative information | 1 | ||||||||||
| Trustees' report | 2 | ||||||||||
| Statement of financial activities | 3 | ||||||||||
| Balance Sheet | 4 | ||||||||||
| Notes to the financial statements | 5 -6 | ||||||||||
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham For the Year ended 31 March 2024 Legal and administrative information
Status
The Organisation is a charity registered with the Charity Commission since 2003.The charity is governed by its Constiutiuion.
Registered office address: Narrow Lane Halesowen B62 9PE Banking NatWest Bank
page 1
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham Notes to the financial statements For the Year ended 31 March 2024
Accounting polices
This report and accompanying financial statements have been prepared in accordance with the Statement of Recommended Practice; Accounting and Reporting by Charities 2005 and the special provisions of the Companies Act 2006 relating to small entities.
Incoming resources
All funds are unrestricted. Collections are recorded when received. Donations is recorded when the income is recognised.
Funds raised by the committee members at the special spiritual program events are accounted for gross. Income are accounted for gross.
Fixed Asset
All assets costing more than £70 are capitalized.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life on a straight line.
Expenditure
All expenditure is generally recognised when it is incurred and is accounted for gross.
Page 2
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham Statement of Financial Activities For the year ended 31 March 2024
| Note | 2024 | 2023 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||||
| Incoming Resources | |||||||||||
| Voluntary income | 1 | 61,950.00 | 176,135.00 | ||||||||
| Income from church activities | 26,219.00 | 5,725.00 | |||||||||
| Building fund | 90,498.00 | 125,000.00 | |||||||||
| Other charitable income | 2 | 31,667.00 | 12,500.00 | ||||||||
| Tithe | 15,531.00 | 0.00 | |||||||||
| Total Incoming Resources | 225,865.00 | 319,360.00 | |||||||||
| Resources Expended_____ | |||||||||||
| Rent | 3,850.00 | 12,500.00 | |||||||||
| Travelling costs | 7,555.00 | 7,800.00 | |||||||||
| Allowance | 18,635.00 | 12,345.00 | |||||||||
| Insurance | 1,870.00 | 1,673.00 | |||||||||
| Other expenses | 17,456.00 | 550.00 | |||||||||
| Interest Expense | 20,810.00 | 0.00 | |||||||||
| Electricity and Gas bill | 3 | 4,590.00 | 0.00 | ||||||||
| Postage. printing and stationery | 779.00 | 450.00 | |||||||||
| Sundry expenses | 4 | 3,797.00 | 345.00 | ||||||||
| Depreciation | 9,013.00 | 5,400.00 | |||||||||
| 88,355.00 | 41,063.00 | ||||||||||
| Net Movement in Funds for the financialyear | 137,510.00 | 278,297.00 | |||||||||
| As at 31 March 2024 | |||||||||||
| The trustees acknowledge their responsibilities for: | |||||||||||
| (i) Ensuring that the charity keeps proper accounting | records. | ||||||||||
(ii) preparing financial statements 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 its Net movement in funds for the financial year in accordance with the requirements of the Charity Commission.
The annexed notes form part of these financial statements.
Page 3
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham
| Balance Sheet | Balance Sheet | Balance Sheet | |||
|---|---|---|---|---|---|
| As at 31 March 2024 | |||||
| Note | 2024 | 2023 | |||
| Fixed Assets 5 |
853,157.00 | 789,214.00 | |||
| Current Assets: | |||||
| Cash at bank and Cash on hand | 62,344.00 | 143,722.00 | |||
| Receivables | 0.00 | 0.00 | |||
| 62,344.00 | 143,722.00 | ||||
| Current liabilities: | |||||
| Amounts falling due within one year | -15,845.00 | -27,967.00 | |||
| Net current assets | 46,499.00 | 115,755.00 | |||
| TOTAL ASSETS LESS LIABILITIES | 899,656.00 | 904,969.00 | |||
| Long Term liabilities | - 139,819.00 |
- 282,642.00 |
|||
| Net Assets | 759,837.00 | 622,327.00 | |||
| Accumulated Funds: | |||||
| Balance Brought Forward | 622,327.00 | 344,030.00 | |||
| Surplus of income over expenditure | 137,510.00 | 278,297.00 | |||
| As at 31 March 2024 | 759,837.00 | 622,327.00 | |||
The trustees acknowledge their responsibilities for:
(i) Ensuring that the charity keeps proper accounting records.
(ii) preparing financial statements 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 its Net movement in funds for the financial year in accordance with the requirements of the charity Commission.
The annexed notes form part of these financial statements.
Page 4
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham Notes to the Financial Statements - (Continued) For the year ended 31 March 2024
| 1- Voluntary Income | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Open Plate Collection | 52,911.00 | 36,540.00 | |||||||||||||||
| Donation | 7,846.00 | 139,595.00 | |||||||||||||||
| Offering | 1,193.00 | 0.00 | |||||||||||||||
| 61,950.00 | 176,135.00 | ||||||||||||||||
| 2 - Other Income | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Membership | 11,523.00 | 8,600.00 | |||||||||||||||
| Wedding service | 0.00 | 300.00 | |||||||||||||||
| Christening service | 2,380.00 | 2,800.00 | |||||||||||||||
| Funeral /Memorial Service | 820.00 | 250.00 | |||||||||||||||
| Other income | 16,944.00 | 550.00 | |||||||||||||||
| 31,667.00 | 12,500.00 | ||||||||||||||||
| 3 -Utility Bills | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Electricity bill | 3,744.00 | 0.00 | |||||||||||||||
| Gas bill | 597.00 | 0.00 | |||||||||||||||
| Water bill | 249.00 | 0.00 | |||||||||||||||
| 4,590.00 | 0.00 | ||||||||||||||||
| 4 - Sundry Expense | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| £ | £ | ||||||||||||||||
| Development Fund Expense | 824.00 | 0.00 | |||||||||||||||
| Repair and maintenance | 1,670.00 | 0.00 | |||||||||||||||
| SumUp Card reader charge | 538.00 | 0.00 | |||||||||||||||
| Telephone Bill | 43.00 | 0.00 | |||||||||||||||
| Broadband charge | 421.00 | 0.00 | |||||||||||||||
| Waste Disposal | 301.00 | 0.00 | |||||||||||||||
| 3,797.00 | 0.00 | ||||||||||||||||
| Page 5 | |||||||||||||||||
Debre Medhanit Kidus Amanuel Ethiopian Orthodox Tewahedo Church in Birmingham
Notes to the Accounts For the year ended 31 March 2024
5 - TANGIBLE FIXED ASSETS
Property, Plant, and Equipment
| £ | £ | £ | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At 1 April 2023 | 789,214.00 | |||||||||||||
| Addition | 72,955.00 | |||||||||||||
| At 31 March 2024 | 862,169.00 | |||||||||||||
| DEPRECIATION: | ||||||||||||||
| At 1 April 2023 | 6,400.00 | |||||||||||||
| Charge for the year | 2,613.00 | |||||||||||||
| At 31 March 2024 | 9,013.00 | |||||||||||||
| NET BOOK VALUE: | ||||||||||||||
| At 31 March 2024 | 853,156.00 | |||||||||||||
| Page 6 |