**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 thai*t ￿￿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￿1*m￿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. - 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 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