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2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1123807

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 for St. Peter’s Mar Thoma Church

St. Peter’s Mar Thoma Church Contents of the Financial Statements for the Year Ended 31 March 2023

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 2023

Church Activities:

Worship Services: The Holy Communion and Divine worship are conducted in both in Malayalam and English. Holy Communion Worships are conducted on every second and fourth Sundays of the month and Divine worships are conducted on first, third and fifth Sundays (as in case of 5th Sundays in a month).

Parish Convention: Under the leadership of Edavaka Mission and the church committee the annual convention was conducted, on 21st, 22nd and 23rd of October 2022 with the final day of convention celebrated as Family Sunday. A family retreat was also held on 22nd October. Our convention and family retreat was led by prominent convention speakers of the Mar Thoma Church, Rev. Sunny Thomas and Evg. Sabu Variapuram. We are very thankful to all the speakers for their support in our spiritual growth.

Student dedication & Thanksgiving Service: On 11th September 2022, 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 St.Thomas Church, Dagenham on Sunday the 11th December from 3:00pm to 6:00pm. All members and organization of the parish sincerely participated in this Christmas program along with our church choir leading the service with melodious Christmas Carols. Various organizations and prayer groups also performed skits and songs. Rev Gemma Stock, the Vicar of St. Thomas Church delivered the Christmas message as the chief guest.

Watch Night Service: On 31st of December 2022 watch night service was conducted at 10.00 pm with Holy communion celebrated by our vicar Rev. Jobi Koruthu.

Sports Day & Barbecue: On August 29th 2022 our 1st Sports Day & Barbecue was conducted at Harlow Tye Green Cricket Club.

Harvest Festival: We celebrated our Harvest festival on 24th September. We would like to extend our sincere thanks to all the families for their generous support through auction and donations.

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 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. Youth members attended the Zonal Youth Fellowship One Day Retreat on 15th October 2022 and also participated in the Zonal Youth Triathlon Event held on 26th November 2022.

VBS (Vacation Bible School): The VBS was held from 24th October to 27th October with the theme for this year being, Ambassadors of

Christ (2 Corinthians 5:20). We would like to extend our sincere thanks to all the families for their generous support towards the VBS. Choir: Choir takes active part in all our Sunday services. The choir practice is held before the worship service. The choir always update themselves by learning new hymns and tunes published by DSMC of Mar Thoma Church.

Sevika Sangham: Sevika Sangham is an integral part of Mar Thoma Church and plays a vital role in church activities. They organize

regular Bible Study, Chain Prayer, Fasting Prayer, Family Retreat, House Visit, Charity Fundraising activities and participate in centre

meetings organized by sister parishes from time to time. Sevika Sangham members participated in the monthly zonal chain prayer. Prayer Meetings: We have five active prayer groups that hold regular prayer meetings for the spiritual growth of their members.

Lent Season Prayers: We conducted Lent prayers service under the leadership of the Area Prayer Groups.

Good Friday Service: On April 15th Good Friday Service was conducted at Fanshawe Community Centre.

Page 1

St. Peter’s Mar Thoma Church

Report of the Trustees For the year ended 31[st] March 2023

Reference and Administrative Details

Principal address 154 Clock house Lane Collier Row Romford Essex RM5 2TJ

Trustees

Rev. Jobi Koruthu : Vicar and President
Mr. Jacob Mathews : Vice President
Mr. Kurian John : Secretary
Mr. Thomas Alexander : Trustee Finance
Mrs. Sherin Mary Sam : Trustee Accounts
Mr. Binu George : Lay Leader
Mr. Shinto Scaria : 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
Dr. Joel Joy : Sunday School Representative
Mrs. Sajiny Johny : Sevika Sangham Representative
Ms. Caroline Benoy : Youth League Representative
Mr. Samkutty B. : Edavaka Mission
Mr. Jobbi Varghese : Area Representative (Chelmsford)
Mr. Santhosh George : Area Representative (Romford)
Mr. Philip Varghese : Area Representative (Harlow)
Mr. Oommen K. Oommen : Area Representative (Colchester)
Independent Examiner
Thomas David Accountancy & Taxation
557 Filton Avenue
Bristol
BS7 0QH
Approved by order of the board of trustees onby:
06/08/2023		 and signed on its behalf by:

Mr. Kurian John (Secretary)

Page 2

t ExamlneV$ Re to the Trnst￿s of SL Pete￿$ Mar Thoma Chu I r8pM on iho accounts for thp >ar •ided 31 Mafch 2023 Sot0￿ on pw frwxb) ekn48n. R••p•ctlv• r•sporMFbllltt•8 of truJt••s and •¥arnlner The charity's twslees are responsib￿ for the ?reparaiion of ts accounts. Th• rhantys tN5ts0s that an au¢it 15 not rwulrad for thls year lundtr Sècuon 144121 of the CITants8s Act 201 I (the 2011 arKI thait ￿￿ePendent exarnwWtW￿ is wuirad. 11 L8 my res￿a￿lity 10.. examin8 the accounts under Sethn 145 of the 2011 Ad 10 fol￿￿ iho piocedurns {%7￿t￿ in th• by the Charity Commissbx lur•r So¢￿0Th 1451Sllbl of 2011 ki)". and to stal• wh•thtrp•tiGukv mallws have com• k) my •ttonbw. B￿1$ of th• lThJ•p•nd•ni •ximln•r'• r•port My •xaminadon was carried out in &¢A)rdanc• #h th• Gan•rnl by lh• commrfiitsn. An •xImina￿on I￿ud•S re¥￿￿ of Ihtr acctyJndrvJ records k8pI by tho and a (￿part￿on of th• •e¢0unl¥ wwonted ¥wth tho88 racc¢d$. 11 oLs0 Includes con&ttar811on ol any uN8uo1 i•m5 or tjiickjsurtt ￿ tho at£wts. and uokiry eX￿ana1￿$ a5 tW5t•o$ oJrK8mlng 8ny sv maners. Tho proc•dures und8rtakon do not proYhY• all Iho aviO•rt• thai woul4 b• r•wir•d In an •Jdll. and eoftse4uenlty no oplnlon 18 glv8n as Lo holhpr lh• artthmls k¥8seni g'tru• f•r ¥knw' aThJ th• is Imii•d to thos0 matters s•t rArt In Iha staiemgnts Ind•p•nd•nt •xafflln•Vi itat•m• In conn8¢110fj wilh my examinatw. M mailer na• ctyn• lo my alt8n￿.. which gNo8 mo t•••on•w• caus0 lo b8liM tsl, ffi •nym•t•n•i r•srt th• W4￿1m￿t$ to keop a¢¢thJnimg records hi accorda￿ ￿ Sectron 130 olthe 2011 kn1'. and to ￿epa￿ accounts accord the aminbry r8crxd$ and 10 o)mpty with tho Kojuntsw requlram•nts d the 2011 Act hav• Thjt b••n m•t,' ty to in my owhjn, attenk￿ S￿￿j t* drown enobkn a kY¢Jp8r olthe acc4Junt8 to bo M¥hg(1. Thomas David FCCA Thom85 David Accountancy & 557 Fillm Avenue 8rk8lel 887 WJH Date.. IC) 13 Page 3

St. Peter’s Mar Thoma Church

Statement of Financial Activities

for the Year Ended 31 March 2023

Notes
2
Total
Other
Total
Transfer between funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other activities
Other income
TOTAL FUNDS CARRIED FORWARD
NET INCOME
EXPENDITURE ON
Charitable activities
Church Running Costs
RECONCILIATION OF FUNDS
Total funds brought forward		 Unrestricted
funds
£
94,689
17,232
24,228
136,149
100,965
2,598
103,563
32,586
271,896
304,482		 Restricted
fund
£
-
-
-		 2023
Total funds
£
94,689
17,232
24,228		 2022
Total funds
£
59,415
18,346
17,853
- 136,149
100,965
2,598		 95,614
64,490
2,539
- 103,562 67,029
-
-		 32,586
271,896		 28,585
243,311
- 304,482 271,896

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 2023

Notes
6
7
8
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS
CREDITORS
Amounts falling due after more than one year
CREDITORS
Unrestricted funds
Restricted funds
CURRENT ASSETS
Debtors
Cash at bank and in hand
FIXED ASSETS
Tangible assets
LESS CURRENT LIABILITIES
NET ASSETS
TOTAL FUNDS
FUNDS		 Unrestricted
fund
£
288,170
20,569
56,636
77,205
(28,050)
49,155
337,325
(32,843)
304,482		 Restricted
fund
£
-
-
-		 2023
Total funds
£
288,170
20,569
56,636		 2022
Total funds

£
13,321
67,152
289,680
- 77,205 80,473
- (28,050) (20,913)
- 49,155 59,560
-
-		 337,325
(32,843)		 349,240
(77,344)
- 304,482 271,896
304,482
-		 271,896
-
304,482 271,896

The financial statements were approved by the Board of Trustees on 06/08/2023 and were signed on its behalf by:

~~…~~

Mrs. Sherin Mary Sam Mr. Thoms Alexander Rev. Jacob P. T. (Trustee-Accountant) (Trustee- Finance) (Vicar and President) Page 5

St. Peter’s Mar Thoma Church

Notes to the Financial Statements for the Year Ended 31 March 2023

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.

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 2023

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
Other Revenue
Total
Fundraising - Harvest Festival		 2023
£
17,202
30		 2022
£
18,346
17,232 18,346

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022 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 2023 nor for the year ended 31 March 2022.

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 2023

6.
Freehold
property
£
282,282
-
-
282,282
-
-
-
-
282,282
282,282
7.
COST
At 1 April 2022
Additions
Disposal
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
TANGIBLE FIXED ASSETS
Eliminated on Disposal
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift Aid Tax Receivable
Debtors/Prepayments		 Freehold
property
£
282,282
-
-
282,282		 Fixtures and
fittings
£
8,134
-
-
8,134
6,957
294
-
7,251
883
1,177		 Motor
Vehicles
£
12,234
-
-		 Computer
equipment
£
2,138
1,089
-		 Totals
£
304,788
1,089
-
12,234 3,227 305,877
6,451
1,446
-		 1,700
859
-		 15,108
2,599
-
7,897 2,559 17,707
4,337 668 288,170
5,783 438 289,680
2023
£
18,510
2,059		 2022
£
12,991
330
20,569 13,321

Page 8

St. Peter's Mar Thoma Church

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

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
£
-
52,578
4,007
51
56,636		 Restricted
Fund
£
-
-
-		 2023
Total Funds
£
-
52,578
4,007
51		 2022
Total funds
67,009
93
51
£
- -
56,636		 67,153

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10.
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		 2023
£
18,339
384
1,307
540
7,480		 2022
£
10,246
336
880
2,540
6,912
28,050 20,913
2023
£
32,843		 2022
£
77,343

Page 9

for the Year Ended 31 March 2023

St. Peter's Mar Thoma Church

Notes to the Financial Statements - continued

11. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Repayable by instalments:
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
Bank loans
Amounts falling due in more than five years:
Bank Loan		 2023
£
18,339		 2022
£
10,246
32,843 77,343
2023
£
51,182		 2022
£
87,589

12. SECURED DEBTS

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
VBS
Youth League
Choir
Church Development Fund
General fund
Edavaka Mission
Sevika Sangam
Sunday School Fund
Restricted Funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:		 At 01.04.22
£
264,797
523
2,704
461
413
2998		 Net
Movement In
Funds
£
30,248
584
(754)
715
(145)
55.00
1,883		 Transfers
between
Funds
£
(821)
-
754
300
(233)		 At 31.03.23
£
294,224
523
3,288
-
715
616
235
4,881
271,896 32,586 - 304,482
271,896
32,586 - 304,482

Page 10

St. Peter's Mar Thoma Church

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

Unrestricted funds
TOTAL FUNDS
Choir
Church Development Fund
General fund
Sevika Sangam
Sunday School Fund
VBS
Youth League		 Incoming
Resources
£
128,797
880
399
3,015
1,050
125
1,883		 Resources
Expended
£
(98,549)
(296)
(1,153)
(2,300)
(1,195)
(70)		 Movement in
Funds
£
30,248
584
(754)
715
(145)
55
1,883
136,149 (103,563) 32,586
136,149 **(103,563) ** 32,586

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023

Page 11

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

St. Peter's Mar Thoma Church

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
Fundraising -Harvest Festival
Contributions from churches
Other Revenue		 2023
£
24,401
8,338
3,363
23,687
240
580
3,819
3,015
4,400
880
399
1,883
18,510
125
1,050		 2022
£
25,262
4,075
4,324
3,975
1,367
620
4,242
-
-
1,195
429
-
13,927
-
-
94,689
17,202
30
24,228		 59,415
18,346
17,853
136,149 95,614

Page 12

St. Peter's Mar Thoma Church

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

EXPENDITURE
Charitable Activities
Vacation Bible School
Sundry Expenses
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
Travel & Subsistence
Vicarage Expenses
Visiting Clergy, Bishops & Evang
Motor Expenses
Charitable Donations
Net income
Total resources expended
Ministerial Stipend
Youth League Fund
Legal Expenses
Special Events
Youth League Expenses
Edavaka Mission
Accountancy
Membership Fees (COMPE)
Insurance
Bank Loan Interest & Charges
Other
Depreciation		 2023
£
27,484
4,060
7,057
1,154
1,761
1,552
3,630
584
8,000
1,153
190
70
60
147
2,300
107
296
895
300
6,972
1,201
26,763
622
4,608		 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
100,965
2,598		 64,490
2,539
2,598 2,539
103,563 67,029
32,586 28,585

Page 13