REGISTERED CHARITY NUMBER: 1123807
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022 for St. Peter’s Mar Thoma Church
St. Peter’s Mar Thoma Church Contents of the Financial Statements for the Year Ended 31 March 2022
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
St. Peter’s Mar Thoma Church
Report of the Trustees For the year ended 31[st] March 2022
Church Activities:
Worship Services: The Holy Communion and Divine worship are conducted both in Malayalam and English languages. Our Holy Communion Worship is held on every Second and Fourth Sundays of the month and Divine worship is conducted on First, Third and Fifth Sundays (as in case of 5th Sundays in a month). Begining of this year we also conducted online worship via WebEx due to Covid -19 pandemic.
Parish Day : Under the leadership of Edavaka Mission and the church committee we conducted our annual convention virtually, on 22nd to 25th of October 2021 with the final day of the convention being celebrated as Family Sunday. Our convention was led by prominent convention speakers of the Mar Thoma church, Rev. Dr. K Thomas and Rev. K.K. Kuruvill. We are very thankful to all the priests for their support in our spiritual growth.
Student dedication & Thanksgiving Service: On 12[th] September 2021, during the service we conducted our student dedication service
for all our children in Sunday School and Youth League, dedicating all our students in school and universities for their new academic year. Christmas Carol Service: The Christmas Carol service of the parish was conducted at The Ascension Church on Sunday the 19[th] of December from 3.00 pm to 6.00 pm. All members and the organization of the Parish sincerely participated in this Christmas program with our church choir leading the Service with some very melodious Christmas carols. Different organizations performed many skits, and songs were sung. Rev. Alexandria, the Vicar of Ascension Church delivered the Christmas message as the cheif guest.
New Year Service: On 1[st] January 2022 New Year service was conducted at 6.00 am with Holy communion celebrated by our vicar Rev. Jobi Koruthu. Harvest Festival: We have celebrated our Harvest Festival on 11th September and generated generous contributions from our members.
Sunday School: Sunday school classes are being held every week after the worship under the guidance of a dedicated team of teachers. Our Sunday School, during a very difficult time was able to strongly stand up to all the challenges which Covid-19 threw towards us, our Sunday School has been very successful in conducting all our common session and regular classes through online platform. Youth League : Our Youth League conducted regular monthly youth meetings for all youths, with regular bible study and discussions, with 2 major youth programs being conducted in collaboration with all Saints Mar Thoma youth in 2021. Many of our youth participated in the 3- day online retreat conducted by the zonal youth. VBS (Vacation Bible School): The Zonal Sunday School Team organized an online Vacation Bible School as church across the zone had to abandon any existing plans to hold VBS at a local level. The theme of the VBS for the year was Let's rebuild the walls and was held from 29/07/2021 to 31/07/2021. Rev. Noble Abraham led by the sessions. The theme was based on Nehemiah 2:17. Choir: Choir takes active part in Sunday services. The choir practice is held before the worship service. The choir always update themselves by learning new hymns and tunes published by the DSMC of Mar Thoma church.
Sevika Sangham: Sevika Sangham is an integral part of Mar Thoma Church and plays a vital role in church activity. They organise regular Bible study, Chain Prayer, Fasting Prayer, Family Retreat, House Visit, Charity Fundraising Activities and participate in centre meetings organised by sister parishes from time to time. Sevika Sangham organises a fasting prayer whichis held on fourth saturday of every month via online platform due to pandemic. Chain prayers were held on every month prior to monthly fasting prayer of Friday. Sevika Sangham members participated in the monthly zonal chain prayer.
Prayer Meeting: We have six active prayer groups. Due to the pandemic situation, all our prayer groups held their prayer meetings virtually for the spiritual growth of their members.
Lent season Prayers: We conducted Lent prayers and Great Lent service via WebEx and the Great Lent services at Church.
Matrimony and Baptism: No matrimony and baptisms are reported in this period.
Page 1
St. Peter’s Mar Thoma Church
Report of the Trustees
For the year ended 31[st] March 2022
Reference and Administrative Details
Principal address 154 Clock house Lane Collier Row Romford Essex RM5 2TJ
Trustees
| Rev. | Jobi Koruthu | : | Vicar and President | |
|---|---|---|---|---|
| Mrs. | Omana Koshy | : | Vice President | |
| Mr. | Kurian John | : | Secretary | |
| Mr. | Alex Lukose | : | Trustee Finance | |
| Mr. | Thomas Alexnder | : | Trustee Accounts | |
| Mr. | Jobbi Varghese | : | Lay Leader | |
| Mr. | Shiju Thomas | : | Lay Leader | |
| Mr. | Alex Lukose | : | Sabha Mandalam Representative | |
| Mr. | Sam P George | : | Diocesan Assembly Representative | |
| Mr. | Kurian John | : | Diocesan Assembly Representative | |
| Mrs. | Susan K Joy | : | Choir Representative | |
| Mrs. | Alice Lukose | : | Sunday School Representative | |
| Mrs. | Sajini Johny | : | Sevika Sangham Representative | |
| Ms. | Caroline Benoy | : | Youth League Representative | |
| Mr. | Jimmy Jacob Thekkekara | : | Edavaka Mission | |
| Mr. | Mathew Chacko Alumkal | : | Area Representative (Chelmsford) | |
| Mrs. | Omana Koshy | : | Area Representative (Llford) | |
| Mr. | Siby George | : | Area Representative (North London) | |
| Mr. | Santhosh George | : | Area Representative (Romford) | |
| Mr. | Shinto Skariah | : | Area Representative (Harlow) | |
| Independent Examiner | ||||
| Thomas David Accountancy & Taxation | ||||
| 550 Filton Avenue | ||||
| Bristol | ||||
| BS7 0QG | ||||
| Approved by order of the board of trustees onby: 10/07/2022 |
and signed on its behalf by: | |||
| Mr. Kurian John | ||||
| (Secretary) |
Page 2
I YPDry on ihp b¢C4)iiilt4 Wol tho 11 MArcli 2022 ¥1 Ixtt p8y88 I<r tD olV(0. Ro&p•ctiw rg$pon•lbllltl•s uf ¢fllBt••# •x4iillnor The charlly's 11i1slfje% nly ro$poiiylble f¥1 1110 PfowrThlloii ol tlia 8ccounlg. The ch8rfty'S tlugt•8# eon$rflei thai 8n èud1t Is noi r8quired for th15 y@8r lund8r Seeiion 1441?) of tho CligrNlès A¢1 2011 (lh 2011 Aclll 8nd that indopendgnt eumlnalioffl im r•?ulred. It 1$ my m5ponslblNlyto'. mln8 aecounis uThYer Secbw 145 01 Ihe 2011 Att lo follow Ihg procedurès i$ld down ID Ihp Ggner¥l Dlrections yiyen by the cb¥riiy CorDmissign (under seOn 145(SXbl ol the 2ts11 Act}, io st81e whether psrtlcvlar maile¢5 hBve come lo my aii¥ntiOn. 84915 of tho Indop•Trdenlexamlner's TeP4)rt My oxsmination Wa5 tsrippd Dul in afjcordanc8 with th& Gèngral Dkections glyen by Iho Chadty CommlssioD. An &x3mSn3tlon indudgs a vrew of the accounlitvJ rgcord5 k¢Pt by the th8TIty and a tomparison ol the accounts pfesented wiltt those racords. 11 also includes conslderallon of any unusual items or disclty8Vr n lh£ 8ccounl$. and Seeking explanations Irom you as Irus&S cuncerning any 6uch rnatiets. The proc8thJr95 undertaken do nc+l provide all Iha avld&ncg Ihat would required in an audil. and conseqvenlly no opinion 1$ given as lo whether ihe cOUnts pre$8nl 8.itye aNJ f8lr Wiew. and the report 1$ Ilmiled 1¢ those ffl8tieis set wt in the statèment8 below. Indep•nd•nt •x•miner's statement In connecuon with My8xamin¥in. no malltr has uma 10 my a11gnlioTr." give$ me re8$anabb Cau9• to believe that. ID any maierial respect. the requiiemen ta keèp accouniing rètord5 in accordance with Seciion 130 01 the 201 l Acl., and lo prepare aCCOunis which accord with Ihe accounting records and io Cofnplywith accounting wuiremen15 of the 2011knt hav* not bee mel.. or hi¢h, irs rnytwinion. altantion should be drawn In order lo enablo a ptoper understanding of the a¢¢ounls to be read)ed. Mr Thomas Dayid FCCA Thomas D8vid Atthunt8ncy & Taxation 550 Fillon Avenue Bristol BS7 OQG Dale Page 3
St. Peter’s Mar Thoma Church
Statement of Financial Activities
for the Year Ended 31 March 2022
| Notes 2 Total Other Total Transfer between funds INCOME AND ENDOWMENTS FROM Donations and legacies Other activities Other income NET INCOME EXPENDITURE ON Charitable activities Church Running Costs RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 59,415 18,346 17,853 95,614 64,490 2,539 67,029 28,585 243,311 271,896 |
Restricted fund £ - - - - - - - - |
2022 Total funds £ 59,415 18,346 17,853 95,614 64,490 2,539 67,029 28,585 243,311 271,896 |
2021 Total funds £ 50,730 9,400 16,039 |
|---|---|---|---|---|
| 76,169 57,109 3,148 |
||||
| 60,257 | ||||
| 15,912 227,399 |
||||
| 243,311 |
CONTINUING OPERATIONS
All income and expenditure have arisen from continuing activities.
The notes part of these financial statements
Page 4
St. Peter’s Mar Thoma Church
Balance Sheet
At 31 March 2022
| TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year FIXED ASSETS Tangible assets The financial statements were approved by the Board of CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS Amounts falling due within one year NET CURRENT ASSETS Mr. Thomas Alexander (Trustee-Accountant) NET ASSETS TOTAL FUNDS FUNDS Unrestricted funds Restricted funds |
Unrestricted fund Notes £ 6 289,680 7 13,321 8 67,152 80,473 (20,913) 59,560 349,240 (77,343) 271,896 … Trustees on Mr Alex Lukose (Trustee- Finance) 10/07/2022 |
2022 2021 Restricted fund Total funds Total funds £ £ £ - 289,680 - 13,321 12,961 - 67,152 41,662 - 80,473 54,623 - (20,913) (14,992) - 59,560 39,631 - 349,240 331,301 - (77,343) (87,990) - 271,896 243,311 271,896 243,311 - - 271,896 243,311 and were signed on its behalf by: Rev.Jobi Koruthu (Vicar and President) 291,670 |
2021 Total funds £ 12,961 41,662 291,670 |
|---|---|---|---|
| 54,623 | |||
| (14,992) | |||
| 39,631 | |||
| 331,301 (87,990) |
|||
| 243,311 | |||
| 243,311 - |
|||
| 243,311 |
Page 5
St. Peter’s Mar Thoma Church
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'EFA, the and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
- Freehold property not provided - Fixtures and fittings 25% on reducing balance basis Motor vehicles - 25% on reducing balance basis - Computer equipment 33.33% on reducing balance basis
The trustees have carried out a full impairment review in accordance with FRS 102, as a result of which no depreciation charge is made in respect of Freehold Property on the ground that the estimated residual value is not materially different from its carrying value in the Balance Sheet.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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.
Page 6
St. Peter's Mar Thoma Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Fundraising - Harvest Festival | 18,346 | 9,400 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021 other than the ministerial stipend and other related living expenses paid to the vicar for his pastoral duties.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. INVESTMENT POLICY
The trustees have the power to transfer money from the current account to a deposit account to maximise the income received from interest.
5. RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed, in particular those related to it's operations, personnel and finances, and are satisfied that the systems are in place to mitigate our exposure to major risks. The trustees to ensure that they still meet the needs of the charity periodically review these procedures.
Page 7
St. Peter's Mar Thoma Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
| 6. Freehold property £ 282,282 - - 282,282 - - - - 282,282 282,282 7. COST At 1 April 2021 Additions Disposal At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year TANGIBLE FIXED ASSETS Eliminated on Disposal At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Gift Aid Tax Receivable Debtors/Prepayments |
Fixtures and fittings £ 8,134 - - 8,134 6,565 392 - 6,957 1,177 1,569 |
Motor Vehicles £ 12,234 - - 12,234 4,523 1,928 - 6,451 5,783 7,711 |
Computer equipment £ 1,589 549 - 2,138 1,481 219 - 1,700 438 108 2022 £ 12,991 330 13,321 |
Totals £ 304,239 549 - |
|---|---|---|---|---|
| 304,788 | ||||
| 12,569 2,539 - |
||||
| 15,108 | ||||
| 289,680 | ||||
| 291,670 | ||||
| 2021 £ 8,779 4,182 |
||||
| 12,961 |
Page 8
St. Peter's Mar Thoma Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
8. CASH AT BANK AND IN HAND
| CASH AT BANK AND IN HAND | ||||
|---|---|---|---|---|
| Total Cash in hand Lloyds Account Barclays Account CCLA-Building Capital Fund |
General fund Restricted £ - 67,009 93 51 67,152 |
Restricted Fund £ - - - - |
2022 Total Funds £ - 67,009 93 51 - 67,152 |
2021 Total funds 41,520 91 51 £ |
| 41,662 |
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 13) Social security and other taxes Creditors & Accruals Provisions for Vicar's transfer Cost CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) Pensions |
2022 £ 10,246 336 880 2,540 6,912 20,913 2022 £ 77,343 |
2021 £ 9,844 - - 540 4,608 |
|---|---|---|
| 14,992 | ||
| 2021 £ 87,990 |
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Page 9
St. Peter's Mar Thoma Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
11. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Repayable by instalments: Bank loans Amounts falling due in more than five years: Bank Loan |
2022 £ 10,246 77,343 |
2021 £ 9,844 |
|---|---|---|
| 87,990 |
12. SECURED DEBTS
The following secured debts are included within creditors:
| Bank loans | 2022 £ 87,589 |
20201 £ 97,834 |
|---|---|---|
The Bank loan is fully secured by first legal charge over the freehold property at 154 Clock House Lane, Romford, Essex, RM5 2TJ.
13. MOVEMENT IN FUNDS
| Unrestricted Funds General fund Edavaka Mission Youth League Sevika Sangam Sunday School Fund Church Development Fund Choir Restricted Funds TOTAL FUNDS Net movement in funds, included in the above are as follows: |
At 01.04.21 £ 236,093 573 461 2,695 46 2,998 445 243,311 243,311 |
Net Movement In Funds £ 29,103 (50) - 9 (145) - (332) 28,585 28,585 |
Transfers between Funds £ (399) - - - 99 - 300 - - |
At 31.03.22 £ 264,797 523 461 2,704 - 2,998 413 |
|---|---|---|---|---|
| 271,896 | ||||
| 271,896 | ||||
Page 10
St. Peter's Mar Thoma Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
| Unrestricted funds TOTAL FUNDS 14. Choir General fund Sevika Sangam Sunday School Fund Edavaka Mission Youth League Church Development Fund RELATED PARTY DISCLOSURES |
Incoming Resources £ 93,990 1,195 429 - - - - 95,614 95,614 |
Resources Expended £ (64,887) (1,186) (574) (50) - (332) - (67,029) (67,029) |
Movement in Funds £ 29,103 9 (145) (50) - (332) - |
|---|---|---|---|
| 28,585 | |||
| 28,585 | |||
There were no related party transactions for the year ended 31 March 2022
Page 11
St. Peter's Mar Thoma Church
Detailed Statement of Financial Activities
for the Year Ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Other trading activities Other income Wedding/Birthday Donations Recessa/Uposhanam/Diocesan Sun General Donations Christmas Carol Charity Donations/Spl Offer VBS Donations Special Events Sevika Sangam Sunday School Income Stewardship General Offertory Total incoming resources Church Development Fund Gift Aid Tax Refund Choir Youth League Edavaka Mission Fundraising -Harvest Festival Contributions from churches |
2022 £ 25,262 4,075 4,324 3,975 1,367 620 4,242 - - 1,195 429 - 13,927 - - - 59,415 18,346 17,853 95,614 |
2021 £ 22,852 3,302 2,430 3,578 2,100 1,060 2,892 100 450 1,775 220 - 9,901 - 70 - |
|---|---|---|
| 50,730 9,400 16,039 |
||
| 76,169 |
Page 12
St. Peter's Mar Thoma Church
| EXPENDITURE Charitable Activities Immigration & Work Permit Vacation Bible School Sundry Expenses Bureau Costs Sevika Sangam IT Software, Printing, Postage & Stationery Church/Hall Rent Repairs & Maintenance Vicar's Transfer Funds Sunday School Harvest Festival Choir Recessa,Diocesan & Mandalam Altar Expenses Provident Fund Travel & Subsistence Vicarage Expenses Visiting Clergy, Bishops & Evang Motor Expenses Charitable Donations Net income Ministerial Stipend Legal Expenses Special Events Detailed Statement of Financial Activities for the Year Ended 31 March 2022 Youth League Edavaka Mission Accountancy Donations Membership Fees (COMPE) Insurance Bank Loan Interest & Charges Other Depreciation Loss on sale of Motor Car Total resources expended |
2022 £ 25,483 - 1,900 5,383 1,002 2,378 1,220 3,345 127 617 536 6,426 574 337 332 - 132 - - 171 - 1,186 - 50 1,562 1,181 - 5,435 682 4,431 64,490 2,539 - 2,539 67,029 28,585 |
2021 £ 24,265 - 469 5,141 361 1,869 1,500 2,330 550 222 - 6,425 420 - 291 - 104 375 - 119 572 1,390 - - 540 - 4,675 658 4,833 57,109 3,148 - 3,148 60,257 15,912 |
|---|---|---|
This Page does not from part of the Statutory Financial Statements
Page 13