GREEK ORTHODOX COMMUNITY OF MILTON .;,;. , KEYNES AND SURROUNDING DISTRICT , FINANCIAL STATEMENTS ,, . FOR THE YEAR ENDED 30 NOVEMBER 2023 Reglstered Charity Number: 11,18744
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT CONTENTS Pago Legal and Adminlstrative Information Report of the Trustees Independent Examinerf5 Report Slatemgnt of Finan¢lal Activities Balance Sheet 10 Notes to the Financlal Statements
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES.. Mrs A E Anlhi Mr C Tzallas Mrs D K Beales HE Nikitas Archbishop of Thyateira & Great Brltain PRINCIPAL OFFICE.. London Road Stony Strattord Milton Keynes MK11 1JA REGISTERED CHARITY NO.. 1118744 INDEPENDENT EXAMINERS.. Tearle & Carver Limited Chartered Accountants Chandos House School Lane Buckingham MK18 1HD
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICTS. Registered Charity No. 1118744 REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30 NOVEMBER 2023 The Trustees present their report along with the ftnan¢ial statements of the charity for the year ended 30 November 2023 structure, Goveman¢g and Management 1} The Trustees: Mrs.Despina Kyriakica Beales - Vice Chairnian Mrs ADne Elizbeth Anthi - M¢mber Mr.Christ05 L. Tzallas- Tre8surer His Eminence Nikitas, AA¢hbishop of Thyateira & Great Britain - Ex Officlo Chairman The Charity was registered with the Charity Commission as Number 1118744 on 1 Oth of April 2007. The contact address for the Charity is clo Mrs. Despbna K. Beales, 33 Overn Avenue, Buckingham, Bu¢kingham5hire. MK18 1 LU. 2) Thg Commlttee Members.. Mrs D. K. Beales INikil - Acting - President Mr. C. L. Tzallas - Treasurer Mrs A. E. Anthi- Member Mrs. A. Biniou- Member Dr. M. Panourgia- Member Mr. K. Alexandridis- Member Mr. E. Melas- Member Cpl D. Chrisloulakis - Member Priest- In - charge, Hieromonk Samuel Papachristophorou 31 S¢hool: The Academlc Year is from Septernber to July. Co-OTdinator- Mrs. Anna E. Anthi Assistant Coordinator Mr. K.Alexandridis Treasurer- Mr. Chrislos Tzallas Teachers Appoillted ill September 2022 for the Academic Year 2022-2023: Mrs.Chara Orthodoxou.. Head Teacher Appointed by The Cypriot Educallon Mission London Mr. Dimilrios Voyiatsis .' Teacher (Appointed and paiij by the EcclesiasticaVCommunSty Commilleel and a third teacher paid by the hour from the Cypriot Educallon Mission in London 41 Ladles Charlty "St. Demètrio$.' President. Mrs Angelikl Biniou 5) Independent Examlner. Tearlg & Carver Chandos House School Lane, Buckingham
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICTS. Reg18tered Charlty No. 1118744 REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30 NOVEMBER 2023 61 Management: The Community is governed by the Constitution of an Unincorporated Association to whSch the Trustees are elected. The Trustees are responsible for managing the Charity through a CommSttee appointed by them and meet al least once a year bul more often if need arises. Recruitment is essentially from within the wlder Greek Orthodox Community by worcl of mouth, al Church services or Community events. The maln income of the Charity comes through donations from members, friends of the Communty. membership subscriptions and interest from the bank deposits and from hiring the Church Hall on hourly basis lo local townsfolk Imainlyl and beyond. In addition and very Importantly, income is derived from the Gift Aid Scheme, social events, fun¢tions and collections at Church services. Donations from the parents and adult pupils of the School, are gratefully received but we make il our duty to welcome all children regardless of Ihe parents, ability to donats. In the samè spirit, and although we are were In need of funds, we make it clear Ihal'fee$' for Baptisms, Memorials, Funerals or Wedding Services would be waived lor reduced) If we believe thal the interested paty does not have the resources. The expendlture of the Charity, apart from the loan repayments, was maSnly for Insurance, Eleclricily, Water and Gas, malntenance expenses, some immediate needs, a150, for the provlsion of Priests, purchase of Llturgicallchanllng Books and materials for the school. 71 Objectivès, Organlsatlon, Alms, Actlvltles The alms and objectives of the Charlty remain as before and briefly, are.. a) to advance the Christ18n Orthodoxy bl to support, malntaln and expand the actlvities of the Greek School, cl together with the Sl. Demetrios Ladies Charity we organise and arrange vis115 and care for the religious needs of people in hospitals, piisons and homes in the area, dl to advance the Greek language and culture el to promote the Hellenic Traditions, fj to assist whoever has the need lo understand varlous aspects of Orthodoxy and help to understand better the ways of practising gl to welcome newly arrived Gomp8triols and other Orthodox Christians. help them as much as we can to adjust in their new environment and assist them to find the appropriate information they need. This past year all the above mentioned. were as important as they were al the establishment of our Community in Dec. 1989. 8) Revlew of Actlvitles and progress: The purchase of the buildings. Church and Church Hall, completed In May 2009 and in August 2010 respectively, both Grate11 listed and being In the'privlleged. conservation area of the town, have lo have permissions and consents by varlous official regulatory bleS before we embark on any essential work or project. The task of lookSng after necessary repairs and essential work lo the Church and Church Hall so they continue their funGtion for the purposes they were intended was as important as ever. The Pandemic Teslrictions that had a serious impact on our finances, and rebuilding the activities so much needed for our survival and progres5 restarted. Of course the Church look care of the Religious aspects and the Church Hall supplemented the work for the Community needs. Both Buildlngs but malnly the Church buildlng, were home again to Educational Purposes. The Church that normally atlracls visitors not only for religious purposes but also as a place of interest and the history of the town, slarted slowly lo become alive and the Church Hall began lo rÉlracl the
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICTS. Reglstered Charlty No. 1118744 REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30 NOVEMBER 2023 Intest of the local charities and people who needed a venue to hold various events and for our Trust lo receive the much needed revenue and also bring members of the Community together. 91 Flnanclal Revlew Reserves Policy-. A reserve of nTrJnies is held in the Lloyds account and the HSBC savers account to support any 4Jngxpe¢led costs. This is regularly been reviewed by the trustees. The Trustees consider the Charity a going ¢onGem by virtue of the revenues shown. Our Flnanclal Year Ends on 30th of November. So: Decomber 2022- This month saw the Celebration of St. Ambrosios and the Christmas Service, January, Februaryp March 2023. We served the parishioners for our rellglous obligations, the Feast of Theophany with the Blessing of the Waters, first the Church and then walking lo the River, followed by the traditional Theophaniada (having warm soup on our return from the riverside) in our Swinfen Harri$ Church Hall. We marked the Feast of the Three Hierarchs the Feast of the Greek Letters and our CulturalraditiOnallEduCatIOnal needs were met with celebrations and activities, takn'ng extra care to follow necessary precaullons. Aprll. May, June, July 2023. Lent and Holy Week Church Services were Gelebrated. the Church was full again, The Sepulchre was decorated with the most beautiful white and yellow Spring flowers. The night of the Resurrection saw more people coming to Church to Hear the CHRISTOS ANESTI at midnight al the Church Yard and take The Llght as tradition has it culminating with the partaking of the Magiritsa, the traditional Paschal soup at the very early hours of Sunday. Next morning the Service of Agapi took place followed by the Paschal L8mblsl in the Church Yard. This Is a popular Tradition that in our Community started in 1993 in a private house to be continued in our Community premises in 2009, even before the Church Building was acquired and we were very happy lo have had the opportunlty lo reviv8 11 again. Before we knew it, July arrived, we held the annual Greek Festival, on the 2 of the month, which is the Feast of Sl Mary of Vlachernae, first with the Church s8rvice. followed by traditional Greek food, muslc and dance. This month saw the End of the School Year., August , September, October, November 2023. The Feast of the Dormition, and a ParakkllsSs was celebrated, and September, saw the reopenSng of the S¢hool. Mrs Chara Georgiou. Mr Dimilris Voyiatzis and an OROMISTHIA (paid by the hour by the Cypru$ Educ. Mission in London I were appointed and the beginning of the New School Year was marked with Agiasmos -Blesslng- in the Church. We celebrated the Palronal Feast of St Stylianos -26111- and took part at the Stony Christmas Lights, making it a successful event culminating in the Church Hall for food and drink. So, another year passed, and we tried to serve as bgsl as we could.
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICTS. Registered Charlty No. 1118744 REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30 NOVEMBER 2023 D. K. Beales 28 August 2024 Greek Orthodox Church of St. Stylianos & St. Ambrosios & Chapel St. Mary of Vlacherna London Road, Stony Stratford, Buckinghamshire. MK111JA Incorporating.. The Greek School, The Ladies Auxiliary St Dimitrios and The Swinfen Harris Chureh Hall
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT FOR THE YEAR ENDED 30 NOVEMBER 2023 We report on the accounts of the Greek Orthodox Community of Milton K8ynes and Surrounding District for the year ended 30 November 2023 which are Sel out on pages 10 to 16. Respective re5pon8lbllltle$ of trustees and examln•r The charity's Iruslees are responsible for the preparation of the accounts. The charity's Iruslees conslder that an audit Is not required for this year under section 144(2) of the Charities A¢t 2011 (the 2011 Act) and that an independent examination is needed. 11 is our responsibility lo.. examine the a¢Gounls under seclion 145 of the 2011 Act., follow the procedures lald down in the general Directions given by the Charity Commission under section 145{5llbl of the 2011 Act., and state whether partl¢ular matters have come to my allenlion. Basls of Independent examlnerfs statement Our examination was ¢arried out in accordants th general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by th? charity and a comparison of the accounts presented with those records. It also includes considerab'on of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the eviden¢e that would be required in an audit, and consequently no oplnion is given 2s lo whether the accounts present a "true and fair view" and the report is limlled to those mallers set out in the statement below. Indgpendent examlner's Statemont In GonneGtion with our examination, no matter has Come to our 8ttenlion.' which gives us reasonable cause lo believe that. In any materlal respect. the requirements.. to keep accounting records in accordanGe with section 130 of the 2011 Act,. and lo prepare accounts which accord wllh the accounting records and compty with the accounting requlremenls of the 2011 Act have not been met,. or lo which, in our opinion, allenlion should be drawn in order lo enable a proper understanding of the aG¢ounls to be reached. Tearle and Carver Limited Chartered Accountants Chandos House School Lane Bucklngham MK18 IHD 0/ >g/ED2y
STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING SUMMARY INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2023 Note Unrestricted Restricted Funds Funds Total Funds 2023 Total Funds 2022 INCOMING RESOURCES Incomlng Resources from Ggneraled Funds Investment Income 170 170 15 Donallons 21,967 21.967 22.628 Incoming Resources From Charitable Adivilies 30.472 30.472 24.973 TOTAL INCOMING RESOURCES 52,609 52.609 47.616 RESOURCES EXPENDED Costs of Generating Funds Charitable Acliviliès Support Cost Inleresl on Mortgage 20,116 7.246 (19,8691 20,116 7,246 12,286 38,243 18,786 32.155 TOTAL RESOURCES EXPENDED 7,493 32,155 39.648 57,029 OTHER RECOGNISED GAINSILOSSES GainsllLossesl on Investments NET MOVEMENT IN FUNDS 7,493 32,155 39,648 (9,4151 RECONCILIATION OF FUNDS Funds Bioughl Fornard SurplusllDelicill for the Yeai Capital Grants 21,468 7,493 243,219 32,155 264,687 39,648 274,102 19,415) 28,961 275,374 304.335 264,687 The notes on pages 1110 15 form an integral part of Ihese financial stalemenls.
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRtCT BALANCE SHEET-30 NOVEMBER 2023 Nolg 2023 2022 FIXED ASSETS Tangible Fixed Assets 563,285 563,530 CURRENT AssErs Cash and Bank 10 37,278 29,785 CREDITORS AND LIABILITIES 11 296,228 328,628 TOTAL NET ASSETS 304.335 264,687 REPRESEWED BY.. FUNDS Unreslricled Reserves Reslricled ReseNes 28,961 275,374 21,468 243,219 304.335 264.687 These accounis weie dpproved by the Board of Trustees on . and 51gned on its behalf by.. RF Mr C L Tzallas The notes on pages 1110 15 fofm an integral part of these financial slalemenls. 10
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023 11 Princlpal Accountlng Policles Basls of Accounting The financial statements of the eharilable company, which is a public benefit under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "Accounting and Reporting by Charities.. Slal8menl of Recommended Practice applicable lo chartiies preparing their accounts in aceord8n¢e with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151., Financial Reportlng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the C¢Jnpanies Act 2006. The financial stslemenls have been prepared under hisloricAI cost convenlKJn. b} Cash Flov The financial statements do not include a cash flow slalement because the charity. as a small reporting entity, is exempl from the requiremènt lo prepare such a statement under the FRS 102 Funding Aecountlng Funds held by the Charity are either,. Unrestrted funds are available for use al the discretion of the Trustees in furtherance of the general objectives of the charity. Unreslricled funds include a revaluation reserve ropresenling the restalemenl of Investment assets at market values. dl Incoming Resources All incoming resources are included in the stalemènl of financial activities when the Gharily is enlilled to the income and the amount can be quantified with reasonable aGcuTacy. The following Specif policies are applied lo particular categories of income-. Voluntary income Is received by way of grants, conations and gifts and is includwj in full in the Slalemenl of Financial Aclivilies when receivable. Grants. where enlillemenl 18 not conditional on the delivery of a specific performance by the charity, are recognized when the charity becomes Unconditional entitled to the grant. Donated serVIS and facilitiès are included at the value to tho charity where Ihls can be quantified. Investment income is included when receivable. In¢orning resources from grants. where rekled to performance and specific deliverables. are accounted for as the Lharity earns the right lo consideration by Its perfomiance. el Resourcès Expended Expendilura Is recognized on an accruals basis as 8 liabilily Is incurred. Expenditure is indusive of VAT which ¢8nnot be recovered. and Is reported as part ol the expendlture lo whlch il relales.. Costs of generallng funds comprfse the costs associated with allracting voluntary income. Supporl costs induda those costs associated with meeting the conslilulional and slalulory réquirements ol Ihe charily and include the audll fees and cosls Ilnked Its the strategic management of the charity, All ¢osls are allocated b¢tween the expendiluie calegorfes of Ihe SOFA on a basis designed lo reflect the use of the resource. Costs ielaling lo a particular acbvity ar8 allocated directty, others are apportioned on an appropriate basis.
GREEK ORTHODOX COMMUNITYOF MILTON KEYNES AND SURROUNDING DISTRICT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Iconllnuedl Tangible Flxed Assets Tangible Flxed Assets are depreciated on a straight basis over their estimated useful1Sv8S as follows.'- Fixtures and Fittings Freehokl Property 20% g) Investments Investmen18 are 51aled al market value al the balance sheet dale. The SOFA includes the nel gains and losses arising on Tevalualion and disposals Ihrougholrt the year. 21 Trustées Remuneratlon Mernbers of the Board of Trustees receive no remuneration for their services. No travel and meéllng expenses were reimburséd during Ihe year. Inv•strnent Income Unrestricted Rgstrlcted 2023 Total 2022 Total Bank Intere81 170 170 1S 170 170 15 4} Donatlons Unrestrlcted Restrlcted 2023 Total 2022 Total Voluntary Donations Donaligns lo School Gift Aid Recoveied 11,350 6.390 4,227 11,350 6,390 4.227 13,179 6,389 3,060 21,967 21,967 22.628 12
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 IContlnu•dl 51 Incoming R•sourc•s from Charitsbla Actlvities Unrestricted Restricted 2023 Total 2022 Total Church A¢tlvillès Hall Aclivilles Fundraising Acliwties 6.195 18.185 e.092 6,195 18.185 6.092 5.484 18,190 1,299 30,472 30,472 24.973 61 Charitablè Actlvltles Expenditure Unrèstrictod Restricted 2023 Total 2022 Totsl Priest and Chanters ArchdSocèse 7,322 7,322 6,370 1,835 4,771 24,131 7.669 2409 716 2000 7,fj69 2409 716 2000 Repairs & Renewal8 Fundraising Events School costs Repayment of donation5 1,136 20,116 20.116 38,243 71 Supportcosts Unrestricted Restricted 2023 Total 2022 Total Interest Payments (19,869) 32.155 112,286) 13.861 Unrestrl¢tod 2023 Total 2022 Total Professlonal Fee8 Donallons & Subscriptions Deprèciation of Fixtures & Flttings Sundry Exp8n8es Insurance Other interesls Cash for l¢onogTapher 2.(MO 2,040 2,120 245 245 245 2,807 154 2,(K)O 2,807 2.000 7.246 7,246 18,786 13
GREEK ORTHODOX COMMUNITY OF rILToN KEYNES AND SURROUNDING DISTRICT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 (ConnU9d) 8) Staff Costs The avgrage monthly number of empk>yees during the year was as follows.. 2023 2022 9} Flxed Assets 2023 Totsl 2022 Total Flxtures & Freehold Fittings Proparty COST Al 1 December 2022 Opening balance adjustment Additi'ons Disposal 5,228 565.000 570,228 570,228 AI 30 Novernbei 2023 5,228 565,000 570,228 570,228 DEPRECIATION Al 1 December 2022 Charge for the Period 5,228 1,470 245 6,698 245 6,453 245 AI 30 November 2023 5.228 1,715 6,943 6,698 NET BOOK VALUE At 30 November 2023 563,285 563,285 563,530 AI 30 November 2022 563.530 563,530 563.775 14
GREEK ORTHODOX COMMUNITY OF MILTON KEYNES AND SURROUNDING DISTRICT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 (Continued) 101 Bank and Cash 2023 2022 Cash In Hand HSBC Current Account HSBC High Interest Account Lloyds Treasuier 60 10,454 12,010 7,261 14.297 12.180 10.741 37,278 29,785 111 Credltors and Accruals Amounts falllng dug within one year. 2023 2022 Mortgages Insurance A¢cru8ls Loan 287,911 3.767 550 4.QC 320,311 3,767 550 4,000 296,228 328,628 121 POST BAL4NCE SHEET EVENTS The impact of Covid-19 could create a continued material adverse impact on economies and market conditions around the woild, whlch in turn may impact the financial performance of the charity. The charity considers any possible disrupllons to be temporary and follows the market davelopmenls very closely, adgpling its operations corbtinuously aceordingty. 15