Charlty number 1122343 ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION CONTENTS Page Ref•r•nc• and •dmlnlstratlv• detall8 of the Charfty, Its TN•tees and advls•r8 TN8t••s' rnport Indendent •xamlneVs rnport ststemont of flnanclal actlvltlgs Balance 8he•t Not08 to the flnanclal 8tat•m•nts 8-17
ASSYRIAN CHURCH OF THE EAST REUEF ORGANISATION REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024 Trusteos Andy Y Darmoo, Secretary H.G. Mar Awa Royel Paul Damioo (appolnled 16 December 2022) Dr Jalil Shlamoon (appointed 16 December 2022) Challty reglstered number 1122343 Prlnclpal offlce Unil 1 Manor Road, Manford Industrlal Estate,, Efith, Kent, DA14QN A¢countsnts Bayar Hughes & Co Ltd, 4 Green Lane Buslness Park, 238 Green Lane, New Eltham, London. SE9 3TL Page 1
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION TrUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024 The Trustees present their annual report logether with the financial statements of the Charity for the 1 August 2023 to 31 Juty 2024. The charlty trades under the name AC.E.R.O. ObJoctlv•s and actlvftle8 a. Pollel•t and objacllv Ouring the perk)d the TNSI ha8 ¢peraied In accordan with Its stated obJ•ctfves. The obJ•ciives of the Trust are lo develop projects within the following fields: 1. The advancement ol the Chrisllan rellgion In a¢cordanc• with the bellofs and teachlngs of the Assyrfan Church ol the East. 2. The relief ol financlal hardshlp. In parCular. but not exdusively, In Aswian Church communltles, ty maklng grants of money for providing or paying for Items. services or fa¢ilitles. 3. The relief of slckness and preservalon of good health by provldlng or asslsting In the provl8ion of equlpment, facllltles and servlces. 4. The ffjlief and assistance of people in any part of the TId who are the vlctims of war or nalural disaster, trouble or catastrophe. 5. The promotlon of rellglous hamiony by: l. Educatlng the publlc In different rellglous bellels Including an awareness of thelr d18tinctive features and their common ground lo promote good relallons between persons of dlfferenl falths. 11. promotlng knowledge and mulual understarKllng and respecl of the bellels and practlces of dlfferent rellglous faiths. There have been no changes in the objectlves slnce Ihe last annual report In 8etting objectives and planning for actlvities, the Trustees have given due conslderatlon to general guldance published by the Charlty Commisslon relating to publlc benefil, including the guidance 'Public benefit Nnnlng a charity {PB2)'. b. Maln aellvltles und•rtak•n to further the Charlty's puvposos for the publlc benefft The charlty provides accomodatlon, relief malerials and food ilems to refugees. The charllvs acllvolles were curtailed due to Issues with the charitys bankers. These Issues have been subsequently resolved and we are hopeful that operations will retum to nomial In the near future. Achlev•ments and perfomianc• Flnan¢lal rnvlow a. Golng concern After making appropTiale enquiries, the Trustees have a reasonable expectation that the Charlty has adequate resources to continue in operational exlslence for the foreseeable future. For this reason. they continue to adopt the golng concem basis in preparing the financial slatements. Further details regarding the adoption of the going concem basis can be lound in the accounting policies. Page 2
ASSYRIAN CHURCH OF THE EAST REUEF ORGANISATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 b. Rarv pollcy The trustees have consklered the level of reserves they wish to retain. approprlate to the charws needs. This Is based on Ihe chaiilrfs size and the level of financial commilments held. The trustees review the amount of reserves that are required to ensure that Ihey are adequate to fuffil the charity8 contlnuing obltgatlons on a regular basls at their board meelings. e. Flnanelal R•vl•w A8 of 31 July 2024 the charity held fund balances comprfslng £113,889 (2023."£190,376) of restricted fund8 {exdudlng fixed assets) and £235.763 (2023:£350.931) of general unrestrfcled lunds. The Flxed Assets of £958.438 (2023:£981,814) are not available for 8pendlng as It represents the net book value of fixed a8get8. Structur•. gov•manu and manag•m•nt a. Constltutlon The charlty was ft)rmed through a constytutlon dated 19 September 2007 and commenced activlty on that date. The prindpal object of the charity is to provlde accomodatlon, feedlng and emergency rellef to war refugees and those suffeflng from any fom of disaster In any part of the worfd. There have been no changes in the objectlve8 8lnce the last annual report b. Method8 of appolntment or olectlon of Tru•t•es The management of the Charity 18 the re8ponslbilty of the Trustees who are elected and cwled under the term8 01 the Trust deed. c. Pollclm adoptsd for lh• Inductlon and tralnlng of Tru8tMs The Inducllon and trainlng of the trustees will depend on the expertise and experience of the individual. All trustees keep themsefves conversant with all matters necessary for them to perform their duties effecbvely. d. Flnanclal rlsk management The Trustees have assessed the major rlsks to whlch Ihe Charity 18 exposed, in particular those related lo the operatlons and finances of Ihe Charlty, and are satisfied that Systems and procedures are In place to mitigate exposure lo the major risks. •. Trustees. Indemnltles Each TNstee of the charity undertakes to contribute to the assets of the charity In the event of11 being w)und up while they are a Trustee, Of within one year after they cease to be a Trustee, such amount as may be required, not exceedlng £10, for the debts and liabililles contracted before they ceased to be a TN5tee. Funds hold as custodlan No funds are held as StodIan trustees on behalf of others by the charity. Page 3
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 JULY 2024 Statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees, report 2nd Ihe financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including ils income and expendilure. for that period. In preparing these financial statements, the Trustees are requlred to: select suitable accounting policies and Ihen apply them consi51ently'. observe the methods and principles of the Charities SORP (FRS 1021.. make jud9ments and accounting estimates thal are reasonable and prudent-, state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless It is inappropriate lo presume Ihal the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time Ihe financial position of the Charity and enable them lo ensure Ihal the financial slalemenls comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for laking reasonable steps for the prevention and detection of fraud and other irregularilies. Approved by order of the members of the board of Twstees on 18 November 2024 and signed on their behalf by.. A.Y.Darmoo Secretary Andy Y Damioo Page 4
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024 Independent examlnef8 rnport to the Trustees of Assyrlan Church of the East Rollef Organlsatlon (Ihe Charfty.) I report to the charity Trustees on my examinallon of the accounts ol the Charity for the year ended 31 Juty 2024. Responslbllltles and bas18 of r•port AS the Trustees of tho Charity you are responsible for the preparaiion of tho accounts In accordance with the requlrements of the Charlties Acl 2011 {'the 2011 Acr). I report In respect of my examlnatlon of the Charltys accounts carrled out under Sectlon 145 01 the 2011 Act and In carrylng out my examinats.on I have followed the appllcable Dlrectlons given by the Charlty Commlsslon under sectlon 145(5)(b) of the 2011 ACL Indopond•nt •xamlnorf• •tat•m•nt Your attention 18 drawn to the fact thal the Chaiity has prepared the accounts In accordance wlth Accounting and Reporting by Charftles: Slatement ol Recommended Pracllce appllcable lo charilies preparfng their accounts In accordance with the Flnanclal Reporting Standard appllcable in the UK and Republlc of Ireland (FRS 102) In preference to Ihe Accounting and Reporting by Charftles.. Statement of Recommended Pradce Issued on 1 Aprfl 2005 which is referred to in the extant regUlaOnS but has been withdrawn. l understand that thls has been done in order for the accounts to PrOde a true and falr vlew In accordarKe with Ihe Generalty Accepled Accountlng Pra1¢8 effectlve for reportlng perfods beginning on or after 1 January 2015. I have completed my examlnallon. I confirm that no matters have come to my attentlon In connection wlth the examination giving me cause to belleve that in any material respecL accounting record8 were not kept In respect of the Charfty a8 requlred by section 130 of the 2011 Act; or the accounts do not accord with those fecord8; or the accounts do not comply with the applicable requirements concemlng the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fai¢ vlaw which Is not a matter considered as part of an Independent examlnallon. I have no concems and have come across no other matters in connection with the examinatk)n to which attenlion should be drawn In thls report in order to enable a proper understanding of the accounts to be reached. Thls report Is made solely to the Charitys Trustees, as a body, in accordance Part 4 of the Charllles (Accounts and Reports) Regulations 2008. My rk has been undertaken 80 that I might slate to the Charftys Trustees those matters l am required to slate lo them in an Independent examlnerfs report and for no other purpose. To the fullest exient pennltted by law, I do not accept or assume responsibility to anyone other than the Charlty and the Charitys Trustees as a body, for my worf< or for thls reporL Signed: Dated: 18 November 2024 B Chakarto FCCA Page 5
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 JULY 2024 Restrlctod Unrestrlct funds funds 2024 2024 Totsl funds 2024 Tolal lunds 2023 Income: Donaiions 62,769 106,466 169,236 68.438 Total Income 62,769 106,466 169,235 68,438 Expendlture on: Direct costs Unallocated amounls 162,631 221,634 384,266 48,5 Total exp•ndltur• 162.631 221.636 384,266 48.544 Other recognlsed galn8: Net movemont In fund• {99,862 1215,031 19.894 Reconclllatlon of fund8: Total funds brought foThRrd Net movement In lund8 1,172,189 (99,862) 350,932 (116,169) 1,523,121 (216,031) 1,503,227 19,894 Total fund• eArrlod forward 1,072,327 235.763 1.308.090 1.523. 121 Page 6
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANLSATION BALANCE SHEEr AS AT 31 JULY 2024 2024 2023 Flxed assets Tangible assets 958.438 981.814 958.438 981,814 Curront assots Cash at bank and in hand 351016 543.573 352,016 543,573 Creditor5: amounts falling due thIn one year 10 (l363) (2,266) Net currnnt assets 349.663 541,307 Total assets IKS ¢ufr•nt Ilabllftles 1,308,091 1.523,121 Net assets excludlng penslon asset 1,308,091 1,523.121 Total net assets 1,308,091 1,523,121 Charfty funds Restricted funds Unrestrithd funds 11 11 1,072,327 235.764 1.172,189 350,932 Totsl funds 1.308,091 1.523.121 The financial statements were approved and authorised for Issue by the Trustees on 18 November 2024 and slgned on their behalf by: A Y Darmoo Trustee Andy Y Darnioo The notes on pages 8 to 17 form part of these financial sl*ments. Page 7
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Gon•ral Infomiatlon The charlty was fornied through a conslilulion dated 19 September 2007 and commenced aclivity on that date. The principal object of the charity is lo provide accomodation. feeding and emergency lief to war refugees and those suffeng from any form of dlsaster in any part of the worfd. Accountlng pollcl•s 2.1 Ba$ls of preparnllon of flnanclal 8tatements The finandal statements have been prepared in accordance with the Charities SORP (FRS 102) - Accountlng and Reporting by Charltles: Ststement of Rernrnended Practice appllcable to charitles preparlng Ihelr accounls In accordance the Flnancial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102) (effeclive 1 January 2019), the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charfties Act 2011. The financlal statements have been prepared to give a 'true and falf vlew and have departed from the Charltles (Accounts and Reports) Regulatlons 2008 onty to the extent required to provide a Irue and fairf voew. This departure has invofved foll¢)wing the Charities SORP (FRS 102) published In October 2019 ralher than the A¢unting and Reporting by Charitles: Statement ol Recommended Practice effectlve from 1 Aprll 21]05 which has 8lnce been withdrawn. Assyrfan Church of the East Relief Organlgation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Inllialty recognised at historical cosl or transaclion value unless otheThY18e stated In the levant accountlng pollcy. 2.2 Incom• All income 18 recognlsed once th• Charity has entiuemenl to tho Inccme, It Is probabh that the Income wlll bo received and Ihe amount of Income re1vable be mea$urod rellabty, Income tax recoverable In lation to Investrnent income 1$ recognlsed at the time the Investrnent Income Is receivable. 2J Expendtturn Expendlture is recognised once there 15 a legal or construcllve obligation lo transfer econornlc benefit to a thlrd party, It Is probable that a Iransfer of economic benefits will be required In settlement and Ihe amount of the obllgalion can be measured reliably. Expenditure is classified by activity. The costs of each actsvity are made up of the tolal of dlre¢t costs and shared costs, includlng support costs Involved in undertaking each activlty. Direct costs attrlbutable lo a single actsvtty afe alh)cated direcuy to that activity. Shared Costs whlch contribule lo more than one activity and support costs which are nol attrlbutable lo a single actfvity are apportsoned between those actsvitles on a basls conslstent wlth the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreclation charges allocaled on the portion of the assefs use. Expendilure on charitable activities Is Incurred on directy undertaklng the athitles whlch further the Charftys objectlves, as well as any assoclated support costs. All expendlture is inclusive of irrecoverable VAT. Page 8
ASSYRIAN CHURCH OF THE EAST REUEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcles (contlnued) 2.4 Interest recelvable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the Charity: this is nomially upon notification of the interest paid or payable by the institutton wth whom the funds are deposiled. 2.5 Tanglble fixed assets and deprnclallon Tangible fixed assets costing £500 or more are capitalised and recognised when future economlc benefits are probable and the cost or value of the asset Gan be measured reliabty. Tangible fixed assets are initialty recognised at COsL After recognilion. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Atl costs incurred to bring a tanglble fixed a55et into ts intended working condition should be included in the measurement of GOSL Depreclatlon is charged so as to allocate Ihe cost of tanglble fixed assets18ss thelr residual value over their estEmated useful lives, Depreciation is provided on the following basls: Land & Bulldlngs 20A Straight line 2.6 Cash at bank and In hand Cash at bank and in hand Includes cash and short4erm highly liquld Invesknents with a short maturlty of three months or less from the dale of acquisilion or opening of the deposlt or similar accounL 2.7 Llabllltlos and provlslons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economlc benefft will be required in settlemenc and the amount of the settlement can be estimated reliabty. Liabilities are recognlsed at the amount that the Charfty anticipales it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best eslimate of the amounts requlred to settle the obllgation. Where the effect of the time value of money Is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liablllty. The unwinding of the discount is recognised In the Slatement of financial activities as a finance cosL 2.8 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, Baslc financial instruments are Inltlally recognised at transaction value and subsequentty measured at thelr settlement value wlth the exceptSon of bank loans which are subsequentty measured at amortised cost using the effeclive Interest method. Page 9
ASSYRIAN CHURCH OFTHE EAST REUEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollclo8 (contlnu•d) 2.9 Fund accountlng General fvnds are unrestrfcted funds whlch are avallable for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been deslgnated for other purposes. Restricted funds are funds whlch are to be used in accordance with specific restrfctlons Imposed by donors or whlch have been raised by the Charity for particular purposes. The costs of raising and admlnlstering such funds are charged agalnst the specific fund. The alm and u88 of each restrlcted fund18 set out in the noles to the financlal statements. Investment income, galns and losses are allocated to the appropriate fund. Incomo from donatlon• and legacles Restrlcted Unrnstrlct•d funds funds 2024 2024 Total fund8 2024 Total funds 2023 Donatlon8 62.769 97,615 160,384 66,506 Total 2023 50.000 16.506 66,506 Invostm•nt In¢om• Unrnstrict•d funds 2024 Total funds 2024 Total funds 2023 Investrnent Income 8.851 8,851 1,932 Total 2023 1,932 1,932 Page 10
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANL8ATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Anatysls of expondlture on ¢harltabh actlvltles Summary by fund type Restrlcted Unrestrlcted funds funds 2024 2024 Total 2024 Total 2023 Direct costs 162,631 221,635 384,266 48,544 Total 2023 21,906 26.638 48,544 Anatysls of expendlture by actlvllles A¢tlvltlos undertaken dlreclty 2024 Support ¢05ts 2024 Total funds 2024 Total funds 2023 Direct costs 379,640 4.626 384,266 48.544 Total 2023 45.361 3,183 48.544 Page 11
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Anatysll of expondlture by actfvitles (contlnued) Anatysls of dlrect costs Total funds 2024 Total funds 2023 Actlvltles 2024 Depreclation Donations Legal and Professional Fees Travel, accomodation elc Exchange rate differences Bank charges Promotion & fundralsing Costs Project costs Sundry expense8 23.376 23,376 23.376 233 7.644 1,030 4.883 532 5.994 (1,004) 2,268 5.994 (1,004) 2,268 348.249 413 348,249 413 6.425 1.238 379.640 379,640 45,361 Total 2023 45,361 45.361 Independent examlnerfs remuneratlon 2024 2023 Fees payable to the Charivs independent examlner for the irxlependent examination of the Charitys annual accounts Fees payable to the Charitls independent examiner in respect of: Taxation compliance services 1.116 360 Trustees, rwnuneratlon and exp•n8es During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 July 2024, no Trustee expenses have been incurred (2023- £NIU. Page 12
ASSYRIAN CHURCH OFTHE EAST RELIEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2024 Tanglble fixed assets Freehold property Cost or valuatlon At 1 August 2023 1,168,822 At 31 Juty 2024 1,168,822 Depreclatlon At 1 August 2023 Charge k+r the year 187,008 23,376 At 31 Juty 2024 210,384 Net book valu• At 31 Juty 2024 958838 At 31 July 2023 981,814 10. Crodftors: Amounts falllng due wtthln one year 2024 2023 Accruals and deferred Income 2A63 2,266 Page 13
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 JULY 2024 11. Statement of funds ststemont of funds . current year Balance at 1 August 2023 Balance at Income Expendtture 31 Juty 2024 Unrestrlcted funds General Funds - all funds 350,932 106A66 1221,634) 235,764 Re8trtcted funds Restrlcted Fund - General Dohuk Apartments Dohuk- General Seminary 60,918 981,814 79N57 60.000 62,769 (9,922) (23,376) (79,333) (50,000 113,765 968,438 124 1,172.189 62,769 1162,631> 1,072,327 Total of funds 1.523,121 169,235 (384,265) 1,308.091 Page 14
ASSYRIAN CHURCH OF THE EAST RELIEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 11. Statement of funds {contlnued) Statement of funds - prtor year Balance at l August 2022 Balance at Income Exp8nditurn 31 July 2023 Unrestrlcted funds General Funds 359, 132 18.438 (26,638) 350,932 Restrlcted funds Restrlcted Fund - General Dohuk Apartments Dohuk- General Semlnary 60,918 1.005, 190 77,987 60,918 981,814 79,457 50,000 (23.376) 1,470 50.000 1. 144.095 (21.906) 1,172, 189 Total of funds 1,503,227 68,438 (48.544) 1,523,121 12. Summary of fund8 Summary ol funds - current yur Balance at 1 August 2023 Balance at Income Expondlture 31 July 2024 General funds Restricted funds 360,932 1,172,189 106,466 62,769 (221,634) 235,764 (162,631) 1.071327 1.S23,121 169,235 (384,2651 1,308,091 Page 15
ASSYRIAN CHURCH OF THE EAST REUEF ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 12. Summary of lunds {contlnued) Summary of funds - prlor year Balance at l Augusl 2022 Balance at Income Eypenditure 31 July 2023 General funds Restricted lunds 359. 132 1. 144.095 18.438 50,000 (26.638) 350,932 (21.906) 1.172. 189 1.503.227 68.438 (48.544) 1,523. 121 13. Anatysls of net 488•ts between funds Anatysls of not a8s¢ts betwg?n fvnds - current perfod Restrfcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wthin one year 958.438 113,889 958,438 352,016 {2,363) 238.127 (2,363) Total 1,072.327 235,764 1A08.091 Anaty815 of net assets between funds - prlor perfod Rests7Cted Unresln'cted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 981.814 190.375 981,814 543,573 (2.266) 353. 198 (2,266) Total 1.172.189 350,932 1,523.121 Page 16
ASSYRIAN CHURCH OF THE EAST REUEF ORGANLSATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 14. Related party transadlon8 The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related partles and the Charity at 31 July 2024. Page 17