Charity r¢gi5tration nuwb¢r 1120545 (EThglaDd and Wales) CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
CHRISTIAN ORTHODOX CONVENT OF THE AI¥NUNCIATION LEGALAND ADMINISTRATIVE INFORMATION Trust¢es Mrs Taiiana Jatn¢$ Right Reverend Adrian BaiTd RevertndAAlexis Charity number IEnglAlld W¥le51 1120545 Registered ol¢e CIO St. Edwards Brotherhood Cemetery Pale5 BTookwood Woking GU24 OBL Ind¢p¢ndent txaminer Dt&ren HaTdingACAFCCA DChA Richard Pla¢¢ Dobson Services Limited Ground Floor 1-7 Station Road Crawley West Sussex RHIO IHT
CHRISTIAN ORTHODOX CONVENT OFTHE ANNUNCIATION CONfENTS Page Trustees. report Independent cxaminerfs r¢w>rt Stat¢]neAt of fllwieia] activities Balantt shect Not¢s to th¢ fizwLci21 statements 7-17
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Th¢ tTUSt¢es present their annual rewTI and financial 5tateTnents for the year ended 31 December 2025. The finan¢ial statements have b¢¢D prepaTed in accordaDce with the accounting policies set out in note I to ihe fiRclaI stat¢tnents and comply with th¢ chaTity'S goveming document. the Charities Act 2011. FRS 102 'The Financial R¢portinE Stsndard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charilieg.. Stst¢ment of Recommcndcd Prartice applicable to chariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Obj¢ctives and activities The Trusi shall hold the tapital and incom¢ of the TTU8t Fund upon tru5L and with the consent of the Abbess, shall apply the income land all of suth part or parts of ihe capital} at such time and QT time$ and in such inanner 10, 01 for ihe benefit of such ciwiiable purposes a5 shall advance the charitable Work for ihe titlle being carTied on or promoted tri supported by the commuNty provided that if at any ttme th¢ Cosnrnunity shall cease to exist or to Carry on promote or support any charitable works the IriJ51 fund and th¢ income thereof shall b¢ held for such a general chartable purpose in conn¢rtion with the Christian Orthodox rcligion as the tru5t¢es $h211 in their discretion think fjt. The Charity was founded in London for the purpo8¢ of $piritual support for Christian Onhodox people. fortifying and strengthening them in ihcir faith., those who are iorant of theiT Chtistian faith, thos¢ who have fallen away or are indifferent to it. Ai the same ttme providing spiritu $uppon io oihers ne¢ding help. The help provided includes.. Religiou5 education for children Spiriwal guidance for adulis - Visits to the sick and support for the ber¢aved - A55islanc¢ with funeral arrangem¢nts - Christening5 and funeral services. We h8v¢ referred to the guidance in the Charity Cotnmission's gener guidance on Public Benefit when reviewing our and objectives and in planning tsur future aciivitie5. In particular. the T1¢¢5 ron5ider how planned adivities will contribute to the aim5 and obj¢rtiVCS they have sei. Athitvemellts and perforniaDcÈ Following ihe r¢pose of Mother G¢rm8ni the last surviving sister of the convent, the trustees of the Chrisiian Orthodox Conveni of ihe Annunciation ICOCOAI consid¢r¢d Several Optio for th¢ fviurE of the conveni. Con5ideTable efforts wer¢ tnade 10 bring in new nuns from abrozd 10 keep the convent going, thus thlfilling the objectives of ihe Ch8rity. However, due to difficuliies obtaining visas for the neiv sisiers, thi5 project had to be abandoned. Th¢ trustees decided that, with no possibility in the short or medium tertn of new nuns attiving, th¢ conv¢nt building 81 Brondesbury Park Should be sold. The trusiees also decided that the COCOA should bwome a Chatitablc Incorporated org7l881ltrll. The n¢w CIO will continue the work of COCOA in supporting traditional Orthodox Christian activitics but will do this as a grallt-giving organisaiion rather than through a specific convent. A large donation wa5 given io the King Edward Orthodox Trust Cotnpany Ltd, a UK Re82Stered Charity, for ihe pur¢ha5e of a house in Normandy> Guildford. Thi$ hollse will be used io accommodate Cler and occasional vi51tors to the Shrine Church of Sairti Edivard the Martyr, Brooknvood, wh05¢ Cler served th¢ Conveni of ihe Anllunciation faithfiJly for many decades. The tTUStees have also i5su¢d small grants for v&riou5 building and humanitaTian projects in the Republic of Congo, the Democratic Republic of Congo and Kenya. FinaDcial rtvitw Nti outgoing T¢50UTces for the year totall¢d £873.37412024.' n¢t outgoing resources £1,562,493) as shown on th¢ Statement ol financial activiti on page 4 of the accounts. All of the 8¢15 of th¢ ¢harity are used to carry out its objectives. It is the policy orth¢ charity that u]trestricted fvnds which have not been designated for a specific use should be m9&ntained at a level equivalent to one y&2T5 ov¢rhead expenditure. Th¢ trustees consider that reserves at this level will ensure that, in the event of 3 signifIcant drop in funding, th¢y will be able to continue the charity's current activities while consid¢rbtion is given to ivays in which additional fttnds may b¢ r8ised. The reserves level is centlY abovE ihe l¢vel uf cxpenditure for a year, however this js du¢ lo si8nifJc2ntly less spenditsg within the year due to having no care costs incurred. page I
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION TRUSTEES, IiEPORT (CONTINUED) FOR THE FE4R ENDED 31 DECEMBER 2025 A fund manager has b¢en i#$tru¢t¢d io ¢n5ure that investments are professiona]ly matjaged, to protdx capital and to m&xiniLSC reDJrn. All investments ar¢ stht¢d * mark¢t value at th¢ balance sheet datc. Pln5 forfuture periods The trustees SuGSsfullY set up a chitable incorrrf)raied organisation caIled Convent of the A[UnCIatKOn with iegisrration numb¢r 1207424 on the 13th of March 2024. Thc trust pian to transfer its &%gets li#bilitie$ to th¢ new CIO. Structsre, 4TovernThce #nd mAn#gement The Russian Orthodox Conv¢nt of th¢ Aruncl1¥0ll wa5 founded in July L954 by the lateArthbishop John M&ximovich, Head of th¢ W¢si¢m Europe Dso¢¢s¢ of tkn Russian Orthodox Church Outside Russi& Its 5pirituaJ life is rtgulattd by the general rul¢s and s¢atutrS of the Russiwj Orthodox Chur¢lL The ¢harity was govErned by a trust deed. dated 6 Nowcmber 1959 8nd Tegistered with the CFwity Comtnission urtder registration n¢. 230922. After a rneeting of the trustees and to changes in the Russia Orthodox church a new charity was set up in AugLJSt 21K)7 which adopted a ncw tt deed. All of the &sscts liabilities and opcrations pass¢d into this ehariiy at 3 L Decrtnbcr 2007. The new rcgistered charity the reference number 1120545. The irustets who served during the year and up to the date of signature of the flnancial statrments were.. Mrs Tatiana Jgjnes ]Oght Reverend Adriart Baird Rever¢Ad AAlexts The power of app(>xnting n¢w trt]stees is vest¢d by theAbbess. The trustees have a duty to identify and TCVICW the risk5 to whiGh th¢ ¢harity is pOsEd 8nd to 5UT¢ aPPTopriat¢ wntrols arB in placeto provide reasonable assuranGe against fraud aDd error. The trustees, reportwas approv¢d by th¢ Board of Tru5¢¢¢s. James Trustee pag¢ 2
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION I report to the trustee5 on tny ¢xaminaiion of the financial Statements of Christian Orthodox Conv¢nt of Ihe Annun¢iation {the charity) for the year ended 31 December 2025. Rtsponyibilities 2nd basi8 of rnport A5 the trustees of the charity you r¢S5ible for the preparation of the finaDtial staiement5 in accordance with tht requiremenis of the Charities Aci 2011. I Tepon in respect of my examination of the ¢hartty's rtnanci81 statements Cried out urtder Section 145 of ihe Charitie5 Aci 2011. In carrying out Tny examination I hav¢ followed th¢ Directions given by th¢ ChaTity Commission under Seciion 145(5llbl of the Chariiies Ad 2011. IDdepeDdent eiAmiher's 5tatem¢nt Your attcniion is drawn to the fact that the Charity has prepared the financial Maternent5 in accordance with the relevant version of the Stat¢m¢Dt of Recommended Practice applicable to charities preparing their financial siatemeDts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and RepOr[g by Ch3rities'. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but ha5 now been w'ithdrawn. l understand that thi5 has been done in order for the fingmcial 5taternenis io providc a true and fair view in accordance with UK Generally AcceptedArcounlinE Praciice. I have completed mv exarnination. I confirm that no mallers have COTtL¢ to my attention in wnnection with the ¢x7aninalion giving Tne cause to believe that in any material respKt'. ccounting records wer¢ not kept in respect of th¢ chBrity as required by section 130 of the Charities Act 2011. the financial st31ements do not accord with those records., or the fi]tsn¢ial sutements do not comply with th¢ Rpplicable requirements wnceTning the form and conteni of financial Stratemenis sei out in th¢ Charities (Attounts and Reports) Regulation5 2008 other thaD any requirement thti the fmancial statemenis give a irut and fair view. which is not a matteT cons2der¢d part of independent examination. I have no COncerr and hav¢ cotne across no other rnatters in connection with the examiDaiion to whiGh attention should be drawn in this repon in order to enable a proper understanding of the fjnancial siat¢ments to be reached DArrti H*rding ACA FCCA DChA Ibchard Place Dobson Scrvires Limiied Ground Floor 1-7 Station Road Crawley West Sussex IiHIO IHT Date.. È.(.otlL page 3
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION STATEMENT OF FXNANCIALACTIVITIES INCLUDING INCOMK AND EXPENDITUR AccouTrrr FOR THE YEAR ENDED 31 DECEMBER 2025 CurrtrLt financial yr Uhrestri¢ted Unrestrithd funds funds gtnerAI Desiin#ttd fllnds Totsl Totsl 2025 2025 2025 2024 Not¢s Illc0C xNd eDdowmtllts from: Donations and legacies Investrnents Other in¢ome 3,884 67,204 3,884 67204 1,902 60,178 Totsl income 71.088 71,088 162,L91 Expenditure on: Raising fvnds Charitabl¢ a¢tivits¢s 17.058 69,144 17,058 940,245 16.562 1,739,844 871,101 Totxl exptndits 86,202 871.101 957.303 1,756.406 Net gainsl(l05sI on inv¢stsllents li 12.841 12,841 31,722 Net expenditur¢ 12,273) {871,1011 (873,374) (1.562,493) Transfers beNrcen funds (42,986) 42,986 Other recognis¢d g2ills attd lossts: Rvaluation of tangible fixed ass¢r3 4,574,500 N¢t mov¢m¢nt in rlldS 145,259) 1828.115) (873,374) 3.012.007 Re¢onciliatiorE of fuDds: Fund ba]an¢es 31 l January 2025 70,421 4,885,078 4,955,499 1.943.492 Fund ba1allC at 31 December 2025 25,162 4,056,963 4,082,125 4,955,499 The statetncnt of financial actÈvities Ktt¢ludes ail gains and losses recognL5ed in thc y¢w. All io¢om¢ and ¢xpettditUT¢ derive frotn Gontinuing activities. page 4
CHRISTIAN ORTHODOX CONVENT OF THE ANINUNCIATION STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE Accouf4T FOR THE YEAR E]VDED 31 DECEMBER 2025 Prior financial year Unrestricted Unrtstri¢ted futLds funds Eejjtral De$igttAted funds 2024 Total 2024 2024 Notes Income and eudow]ntttts from: Donations and legacies Investments Other incorne 1,902 60,178 1,902 60,178 Total income Expenditure on.. Raising fi]Dd$ Chariiable activiiies 16,562 1,707,844 16,562 1.739,844 32,000 TotAI expejjditure 1,724,406 32,000 1,756,406 Net gainsll1oss} on inv¢stm¢nts li 31,722 31,722 Net illtome 11,530,493) 132,0001 (1,562.4931 TraD5frrs between funds 1,463.370 11,463,370) Other recognised gains And lossw: Revaluation of tangible fixed assets 4,574,50Q 4,574.500 Net movemeut in funds {67,1231 3,079,130 3,012,007 ReconrilialioD of funds: Fund balances at l January 2024 137,544 1.805,948 1,943,492 Fund bglances *t 31 December 2024 70.421 4,885,078 4,955,499 page 5
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION BALANCE SHEET ASA T31 DECEMBER 2025 2025 2024 Notss Flxtd #s$èts T8n8ible tssets InvestMts 13 14 L.536.908 351.686 1.569.211 1.182,952 1,888,594 2.752,163 Current assets D¢btOTS C28h at bank and in hand 15 131.000 2,065,579 166.04Q 2,039,696 2.196.579 2205,736 Crtdxtors: amounts falling due withÈll olle year 16 13,0481 (14001 Net ClTTreiit assets 2,193,531 2,203.336 Totxl a$s¢ts less turrent liabilities 4.082.125 4,955.499 The funds of the ¢harity Unrestricted fund5- general Unrestricted funds~ D¢signat¢d fithds 18 17 25,162 4.056.963 70,421 4.88S,078 4,082,125 4.955,499 The financial staternts wer¢ approv¢d by th¢ inLSi¢¢S on.................. Mrs Tatiafta James Trijstee P4e6
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YE4R ENDED 31 DECEMBER 2025 A¢¢ounting politits ChArity informxtio Christian Orthodox Convent of the Annunciation is a Chlty, Th¢ principal address is Convent of the Annunciation, 26 Brondesbury Park. London, NW6 7DL. 1.1 Basis ofprepar#tio The fmancial 51atrTnents hae been prepared in accordance with the charity's goveming dociimtnt, the Charities Act 2011, FRS 102 The Financial Reporting stEd0[d applicable in th¢ and Republic of Iteland and lh¢ Charities SORP "Accouniing and Reportin8 by Charities.. Statement of Recofflmended Practi¢¢ applicable to charities preparing their accounts in aGrord8n¢e wilh ihe Fin3ncial Reporting Standard applicable in th¢ UK and Republic of Irelartd (FRS 1021 The charity i5 a Public Benefit Entity 95 dBfjrted by FRS 102. The charity has t3keo advantage of the provisions in ihe SORP foT thaTilies not to prepare a statement of cash flows. The financi statements have departed frotn the Charities (Accounts 3pd Reports) Regulations 2008 only to the extent TequiTed to provide a true and fair view. This depaTtt]re has involved followinE the Slaiemcnt of Recommended Practice foT charities applying fRS 102 Taiher than th¢ version of Ihe Statement of Retommended Practi¢t which is referred lo in thc Regulations but which has since been withdrawn. Th¢ financial statements are prepared in sterlin& which is the fictIOnal currency of the charity. Monetary amounts in these fjnancial stst¢m¢rJts gTe Touttded io the n¢Brest £. The fmancial stat¢tnents have been prepaT¢d under the hisioricaj cost convention. Th¢ prinripd accouniing policies adopied are 5¢t out below. 1.2 Coing eoncerD At the time of approving the financial statements, the tru5t¢ES have a reasonable ¢xp¢ctation that the charity ha$ adequate resources to continue in op¢rationd exigtertce for the for¢seeable future. Thus the trust¢es continue io adopt the going oncem basis of accounting in preparing the financtai 8tatetn¢nts. 1.3 Charitable fllnds Unrestricted fund5 are available fer use at the discr¢tion of the trustees in furth¢Tattce of their charitabl¢ objectives. Designated fvnds aTe unrestricted fund5 Set aside ai the discretion of the trustees to be u5td for a specific purpose. The deSiated fund foT fixed 2sseis Is that p4rt of the unTestricied fvnd5 that Tepiesent8 fixed asset5 used in ihe day io day operation of the charity, the designated fund for investments represents both fixed asset Investrnents and fund5 held in deposit accounts. 1.4 Intome All in¢otne is recognised ID the Statement of Financial Activities oncc th¢ ¢haT5ty has entitlem¢nt to the fimds. it is probable thai the income will be receivcd and the aTDount can bt measured reliably. DoDatiOnS and similar incoming r¢5ources are included in the yw in which they r¢ceivable which 18 when the charity becom¢s ¢ntitled to the resource. Income from invesllnents is included in the SOFA in the y¢aT in which it l8 receivabl¢ which is when the ch8Tity beeomcs entitled to the r¢50ur¢es. page 7
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE IE4R ENDED 31 DECEMBER 2025 Attortttting policA (Colltinu¢d} 1.5 ExptLdltllre Expendiiure is r¢(ognis¢d onGe ther¢ is a Icgal or COns¢tive Obligation to transftr economic bffl¢fLt to athird pty, it is piob#bl¢ thai a transf¢r of economic benefits will be required in s¢ttJemetL and the amount of the obligation cart b¢ Lne&%ured reliably. Expcnditure 15 GI3s5ified by acrivity. The ¢o$ts of ¢a¢h &tivity ¥rc tnadc up of the totsi ofdir¢¢t costs and shared costs. including support costs involved in undettaking tivity- Direct costs attributablt to a single activity are allocated direthly to thai activity- Shgjed cosis contribute to more th¥ one &etivity and support costs which noi attributabl¢ to a singlc activity arc apw>rtioned betwecn those activities on a blS consAstent with th¢w¢ of r¢sources. All exp¢nditur¢ Is account for on aTh accruajs b&sis 8lld has been ¢18ssified between the costs directly attribut1¢ to th¢ nvent and the sister3 and ngernet administration costs. 1.6 T#ngibl¢ fixed assets Tangiblc fixcd a5scIs 2re initially mwured ai Cost and subsequently tne&8ured ai cost or valuatioJ¥ n¢t of d¢prKiation 8nd any irnpainncnt losscs. Deprtciation is rccogniscd so as 10 thrite off the cost or valu2ti0n of assets less their residual valucs over the useful lives on Ihc following basL8- Land and buildings Fixtures, fItting5 & equipment Motor v¢hiBI¢s 20/0 $tr4ight lirte 25% Rcducsng baIart¢e 25/0 ReduGing balancc Th¢ gain or loss arising on the disposat of ao ¥s¢t is d¢t¢min¢d # th¢ diffcrtn¢¢ be¢wecn thc sale PTo¢ecd5 9 the ¢ary%ng vatu¢ of th¢ &8se¢ and is re¢ognis¢d itt th¢ stat¢tn¢ni of fs]]an¢iai a¢tivsli¢s. All ass¢ts ¢osting more than £500 ar¢ capitslis¢d. 1.7 Fixed tt illvtsttnents Investmens e stated at market value at the ba]3nc¢ sheet date. The SOFA includes the net gains al loss&% lsing OEJ rev81uation. 1.8 Cash and c¥sh equivalents Cash z¢ the bank and in hand includes ¢&8h and short tenn hsghly 12quid invethents with a short rnarity of three months or less from the date of aquisition or opewng of the deposit or simi18r accoLWLL 1.9 Fittan¢ial instruments The charity has elected io apply the provisions of Section I I 'Ba5ic Finan¢ial Instrum¢nts' and S%¢ion 12 '0th¢r Financial InstrLTh¢nts Issue&, of FRS 102 10 aIl of its fsrJatt¢ial instrurtt¢nts. Fsnancial instrLLments are reColSed in the tharity's balance 5hEet when the ch3Tity becomes party to the contractt provtsions of the instrumenL BÉuicfiNL7nciuI afsets B&sic financial &%sets. which includ¢ debtor5 ar and batik bdattces, *TE instiaily mea%urcd at ttans2ction PTICC in¢luding trans&ction costs alld are subsequently c8Thied at gKt]ortised ¢ost using th¢ ¢ffe¢iiv¢ inr¢r¢st method esS the aTrgng¢D]¢nt Constitutes a fanCIng transactio where the transaction is m&tsur¢d at th¢ pr¢s¢nt valu¢ of th¢ future receipts dsSCOUllted at a markct ratc of sntcrtst. Financial &ssets cla£sified &8 rec¢ivablc withirA one yiaf aT¢ rtot amtsrtised. dge8
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢oulltin8 poliites Icotttithuedl Brtsicfinwiciallinbilities Basic fi]wicial liabililits. including creditors and bgnk loans are initially recognised at tramsa¢tion price un1¢55 the aTTangem¢nt constitutes a fJnai)Ging transaction. Financi liabilitie5 ¢l&q8ified 85 payable within one yew are not amonised. 1.10 TixAtion As a rharity. the congregation is not subjE¢t to corporation tax or other layes on income and gains arising fiom lis charitabl¢ objectives. Tax refi]ndable on investment in¢om¢ i5 acc4)unted for in ihe year in wkuch ihe repayment is received. 1.11 Ch*ritible activitie5 Charitable Zcliviiies relate to the costs of th¢ community 9d have been allocated directly to the fvnctional headings as shown on the SOFA. The trustees have idetJtifi¢d Drte dircct charitable aciivity. Support Costs include governance costs which are costs associated with me¢tiDg the constitutiopal and statutory requirernents of ihe charity and includ¢ independent examination fees, aecountancy fees and b2nk charges. Critical accountlllg estimates and judgements In th¢ application of the charity's accounting policies, the tru8iees ar¢ required to make judgements, ¢stitnates and SUTnPtions about ihe carrying amount of a55ets and liabilitie5 that aTe noi readily apparent from otheT sources. Th¢ esli]nates and associated assu]npIiO are based on historical experience and other factors that ar¢ consideTed to b¢ levant. Actual r¢sults may differ from the estimates. The ettimates and underlying a55umptions are revieived on an ortgoing basis. Revisions 10 accounting esiimatt5 are recognised in the period in which the estimate is revised wheTe the r¢vision affec15 only that period, 01 in ihe period of the revision and future periods wher¢ the Teyision aff¢cts both current and futurc peTiods. Key souttts of estimation uDttrtAinty lllvtstment Value Valuaiion of inve5ttnents ai mk¢t value, b2sed on calculation by the in¥esiment fvnd manager. The investmenis held are all shares list¢d on a recognised stock ex¢h2nge and have an easily identifiabl¢ n)3Tkei value. Income from donations And legacies Unrestricted fullds 2025 Uttrestricted futLds 2024 Donations ad gifts 3,884 1,902 page 9
CHRISTIAN ORTHODOX COIYVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YE4R ENDED 31 DECEMBER 2025 IDeome from investments Unrutricted Unrestricted funds furtds 2025 2024 Income from listed inYesttD¢nts Interest receivable 31,172 36,032 38,203 21,975 67,204 60,178 Other xht(pmÈ UnrestTiCted Ullrestricted funLIs funds 2024 2025 Net gain on disposal of tangible fExed assets 100,111 Raising funds Unrtstricted Unrestrict¢d fund5 funds geneol 2024 2025 InvMent management 17,058 16,562 17,058 16.562 yag¢ 10
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Charitable *ctivitits Provisitsn of Provision of Religious Religious Servites Serviets 2025 2024 Dtpreciation alljd iIDpaimJeni Raies and water InsuTan¢e Light and h¢at Tel¢phone Church expen5¢S Food and hou5thold expen8es Gifi5 32,303 32,403 810 6,958 2.805 353 2,340 8,632 1,649,500 1,872 4,840 889.001 928.826 1,706,110 Shar¢ of support cosis15ee tjote 81 Share of govertwire Costs (se¢ note 8) 91 11,328 137 33,597 940.245 1.739.844 Analysis by fond UnTestri¢ted funds- g¢nera] Propety Fund 69,144 871,101 1,707,844 32,000 940.245 1.739,844 Support e05ts Support costs GovernAnce eosts 2025 Support costs Governxntt costs 2024 B]k charges 91 91 137 137 Indeped¢iJt examiner fees Accountartcy Professional fees Legal fees 3.780 648 3,780 648 4,990 1,080 1,992 25.535 4,990 1,080 1,992 25.535 6,900 6,900 91 11.328 11,419 137 33,597 33,734 Analy5¢d between Charitable activit1¢5 91 11,328 137 33,597 53.734 Governance costs includes payrnents 10 the accountants of £2,40012024 - £2,400) for an Independent examination and £2,028 {2024- £3,670) for other 5eryites. pBge 11
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE AR ENDED 31 DECEMBER 2025 Not ]novement io funds 2025 20Z4 The net movemtnt irt funds is stated after charginyJ(crediting)= F¢¢5 payable to the charity's indcpendtnt exarniner.. - for the ind4)tndent exwnination of the Ch1,$ financial statements - for other financi8] scrviccs Depreciation of owned tangible fixed ass¢ts Lossllprofitl on disposal of tsngibl¢ fixed assets 1400 2,028 31303 2,400 3.670 32,403 10 Trustees One ofthe trustee4 Father Archrnandrite Alexis. w0S as one of four priests and two bishops who serve the ckartty in thtir professional capacity. In perfomjing these duties alort¢, Fath AI¢xi5 receives reimburs¢d trdv¢I expenses ju8t as tht other priests and bishops receii'e. Father Al<xis att¢nts on av¢rag¢ four 5erviccs a month &nd receives no tnore th2n £50 per service tn reimbursirtg the expenses he incurs. On¢ of th¢ ¢rust¢¢5, Right Rvcr¢nd Adrian Bair visits in a professional Lxpactty approximately thre¢ lim¢s a y¢ar and r¢¢¢ives mort than £150 p¢r visit in r¢imbur5ing th¢ penSeS h¢ incurs. Ther¢ w¢re no tru5t¢¢s' runiiri¢ration for th¢ year ended 3 1 December 2025 nor for the y¢aT ¢nded 31 D¢G¢mkr 2024. Gains and losses on investments Uknr¢strlea Unr¢strictsd fuknds fund$ 2025 2024 Gn(lOss) Erising ort.. Revaluation of inv¢stmcnts Sale of iAvtstsnents 3,306 9.535 26,609 12,841 31,722 12 Tax*tion Th¢ ¢harity is exempt from t&K on income and gains fallirjg within section 505 of the T&xes Act 19g8 or section 252 of the Taxation of Chargeable GainsAct 1992 to th¢ cxtcll( that thesc ¥sc applied to its ¢haritabl¢ objects. pagc 12
CHRISTIAN ORTHODOX COI¥VENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE IEAR ENDED 31 DECEMBER 2025 13 Tangible fixed xssets Land indFiTturts, fittings Molorvthitlts buildin85 & tqllipmenl Total Cost At l January 2025 Disposa15 1,600,000 49,825 1,661,741 At 31 Decemb¢r 2025 1,600,000 49,825 1,649,825 DtpreeiatioD inhPAirment Al l January 2025 D¢preGiation charged in th¢ year Eliminated in respect of dispos21s 32,0(H) 32,0 48,614 303 92,530 32,303 Ai 31 De¢e]nbeT 2025 64,000 48,917 112,917 Carrying amount At 31 December 2025 1,536,0(M) 908 1.536,908 At 31 Dernber 2024 1,568.000 1,569.211 page 13
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCL4L STATEMEF4TS (coNfILYUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Fixed asset Invtstmetsts Listed invtstmtllts C8sIL i porrfolio Total Cost orvalu#titbn At l JgllU8ry 2025 Addition5 Valuation changes Disposals 1,153,166 280,206 3,306 11,291.0981 29,786 E76,320 1,182.952 456,526 3,306 (1,291,098) Ai 3 L Dec¢mb¢r 2025 145.580 206.106 351,686 A¢ 31 DeG¢tnber 2025 145.580 206.106 351,686 At 31 December 2024 1.153.166 29.786 1,182.952 Historfc#I etsst A¢ 31 Dweinber 2025.. £152,381 At 3 1 December 20?4.. £1.I46,971 lnVrtttnts that hwj a valu¢ of 5QA or more of th¢ rnark¢t valu¢ held at year cnd zre.. Fid¢lity InvestmentFDS FID.. £27.591.94 Liontrust Sustsinablc Futur¢ Corp BD= £70,439.02 Muzinich Funds Glocbal Ta¢t Strt- £47,548.11 Revuation reserves are AOI included in th¢ desi8rtated fvnd. IS Debtors 2025 2024 AMoUts f21ting du¢ within one year: Gross amounts r¢Ver&b]e on contract 35,040 35,040 2025 2024 Amounts fxllÈhg dttè #fttr thort thxn yur: Gr05s amounts rBcovcrable orl contract 95.960 131.000 Total debtors 131,000 166.040 page 14
CHIUSTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 16 Creditors.. amounts falling due within one ytgr 2025 2024 Accruals 3,048 2,400 17 Designattd FuDd5 The income funds Df the charity include the following de$lted fund$ which have been sd aside out of unrestricted funds by the trust¢¢s for specifL¢ purposes.. At l JaDu3ry 2025 RoUrceS expend¢d Transf¢r5 Gains AndAt 31 Deetmber losses 2025 Property fijnd Inyestmcnt fund Loan to Old Calendar Orthodox Parish 1,568,000 3,151.038 (32.0001 {839,1011 1,536,000 2.389,963 78.026 166,040 135,0401 131,000 4,885.078 {871,1011 42.986 4,Oi6,963 Previous year: At l Janyxry 2024 Resources txpended Transfers Gain5 andAt 31 December losses 2024 Property fund [ThveMent fund Loan to Old cald Orthodox Parish 12,750 1,592,118 132.0001 {2,987.2501 1,558,920 4,574,500 1.568.000 3,151.038 201,080 135.040} 166,040 1.805,948 132.000) {1,463.3701 4,574.500 4.885,078 The prOty fvnd represents the fijnds set gside for the chBTity'S OCCUPation of land and building5. The Inve5tn)ent fund has b¢en dIgnated for the charity's committnenl to provide for the retir¢rnent and C8Te in old ag¢ and 5ickne55 olthe comtnunity's m¢mbers, al well as Providing B regular inwme source which the Ch1 uses 10 pursue its charttable objecis. The loan to Old Calendar Orthodtsx Parish fund Tepresents tnoney loaned to anoihcr rhurch in a¢COTdance with the Ch8riii¢s Trusi Deed. page 15
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 18 Unrestricted fund5 The utWfrirf¢d funds of the charity ¢L¥rnprise the urtexFfJLded balances of d<)rtgtions and grattts which ar¢ not subj¢¢t to specific tondition5 by donors and grantors as to how they fflay b¢ used. These iA¢lude designated fid5 which have bten set aside out of unrestricted funds by the trLL8tecs for splfi¢ purposes. At l January 2025 Illco]DiNg rtsour¢¢s Re50UfttS expended Tr%sferS G#1tt5 andAt 31 Dtt¢Dtber 1055es 2025 G¢¢i fid$ 70,421 71.088 (862W2) (42.986) 12,841 25.162 Previou5 year: At l Jgbuary 2024 IntomiDg resouttes R*souT¢es expended TrA$f¢r$ Gaills #ndAt31 Dct¢mber losses 2024 Gen¢ral 137,544 l6? 191 11,724,400) 1,463,370 31,722 70.421 19 Attalysis of llet A¢ts between funds Uurtstritted UttrestrKeted funds fuud5 gen¢r] Designated funds Total 2025 2025 2025 At31 Deeember2O25: Tatlgible Sets Invcsttnents Current assetsllEiabiliti¢s) 908 1.536.000 351.686 2,169277 1.536,908 351.686 2.193.531 24254 25.162 4,056.963 4.082.125 Unrestrlrted UJLr¢strictsd funds fullds geueral Desigttated fullds 2024 Totsl 2024 2024 At 31 Dtttmb¢r 2024.. Tangible assets Ittvesiments CutT¢nt o$S¢t(lIabl1ltsCSI L2LI 29.786 39,424 1,568,000 1.153.166 1163.912 1,569.211 1,182.952 1203.336 70,421 4,8S5,078 4.955.499 page 16
CHRISTIAN ORTHODOX CONVENT OF THE ANNUNCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YE4R ENDED 31 DECEMBER 2025 ZO Relited party trISaCtiO$ Tr8n5a¢tions Wkth rtlated partie8 During the year, the Charily tran5f¢rTed a portion of its investment portfolio with a market value of £839,101 to Convent of ihe Annunciation, 3 charitable incorpDrat¢d organi8ation established io further charitable objectives as those of the Charity. The Chgrity 2nd th¢ CIO are considered related parties 05 two trustees Mrs Tatiana JaTnes & The Right Reverend Adrian Baird s¢rved concurrently on tlie goveTlliDg bodies of both organisations during the period. The overlapping irustees did noi receive any retnuneraiion in re131ion to the transaction and dlared their interests in accordance with the Charity's Conflict of interest policy. No consideT21ion was Teceived by the Charity in respect of the transfer. At the year there were no outst}dIng ba13nces between the Charity and the CIO 2rising from this transaciion. page 17