## **Trustees Report for year ended 31.3.2023**
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s governing document and the Charities Act 2011
**Reference and administrative information:**
**Charity Name:** Sinai Mar Thoma Church North London.
**Registered Address:** 15 Hampden Road, Harrow HA3 5PP
**Charity Registration Number:** 1136866
**Management, Executive& Non Executive Committee Members:**
## **Refer to annual report**
## **Bankers**
Barclays Bank Plc, Station Road, Edgware, Middlesex.
## **Independent Examiners**
Mr. Thomas Alexander
Mr. Dileep Cherian
## **Governing Document**
Sinai Mar Thoma Church is governed by the constitution submitted to the Charity Commission and by the constitution of the Mar Thoma Syrian Church of Malabar.
## **GDPR Compliance Statement**
The trustees have implemented procedures and policies to notify donors and members of the information held by the charity and also implemented opt-in/opt-out processes.
## **Safeguarding Statement:**
The charity has safeguarding policy and Child Protection Policy which is also displayed on the church’s notice board. This is reviewed periodically.
## **Risk Assessment and Management:**
The trustees have examined the major strategic and operational risks which the charity is likely to face and confirmed that processes and procedures have been established to enable regular reporting so that the necessary and timely action can be taken to reduce those risks.
Risk assessment, risk management policies and insurances are regularly reviewed. The financial controls and reporting are considered to be adequate.
## **Organisational Structure:**
The trustees meet regularly, whilst the day-to-day management of the charity is delegated to the management committee.
## **Appointment of Trustees:**
The trustees and other office bearers are elected for each financial year before the commencement of the new financial year. They are elected by the General Body or by the members of the bodies whom they represent. All the appointments are made as per the constitution of the Mar Thoma Church.
## **Plans for the Future:**
We are planning to work more closely with the All Saints Church to ensure that we can carry on this partnership well into the future for the mutual benefits of both. Various shared activities including spiritual and social activities are planned along this line. We also aim to further develop our activities for the Edavaka Mission, youth fellowship, Sevika Sangham and the Sunday school.
## **Mission & Objectives:**
The objective of Sinai Mar Thoma Church is to promote the Christian religion, provide its members with regular Christian worship services, in accordance with the traditions of the Mar Thoma Church; provide pastoral care and organise activities to enhance the spiritual life of the members; enhance the ecumenical relationship within the local community and churches; and make voluntary contributions to evangelistic and charitable work in the United Kingdom and abroad.
## **Reserve’s Policy:**
The reserves held are considered to be the prudent to ensure that the work of the charity continues unhindered for at least 6 months, even when donations may fluctuate. The trustees aim to increase the reserves in future years.
## **Principal Sources of Funding:**
The majority of funding comes through subscriptions, offertory and other voluntary donations by the members.
## **Volunteers:**
A substantial contribution to the activities of the church is in the form of voluntary services by members.
## **Investment Policy:**
The trustees have the authority to make any investments which they think are appropriate, prudent and beneficial for the work of the charity subject to prior approval by the membership body. However, at present the church has no significant surplus funds to make any investment and none have been made till date.
## **Trustees Induction & Training:**
All trustees were reminded of their fiduciary responsibilities. They regularly review income, expenditure and assets held by the charity, meet regularly to delegate tasks and formulate strategy and policies in achieving its objectives and were also made aware that they are ultimately responsible for the activities of the charity.
## **Financial Review:**
The Trustees regularly met to review the various operations of the charity. The trustees are mindful of the reserves policy and ensure that expenditure are only incurred when
required to carry out the activities of the charity and are controlled.
## **Trustees Responsibilities:**
The trustees are required to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing the financial statements giving a true and fair view, the trustees should follow best practice and:
- a. Select suitable accounting policies and apply them consistently
- b. Make judgements and estimates that are reasonable and prudent
- c. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
- d. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which discloses with reasonable accuracy the financial position of the charity, which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Declaration of serious incidents:**
To the best of our knowledge we are not aware of any serious incidents or other matters affecting the administration, finance and accounting practice of the charity during the financial year ended 31[st] March 2023.
## **For and on behalf of the managing committee,**
## **Daniel Papachan**
## **Hon. Secretary**
**Abraham Jacob Ashley Challackal**
**Hon. Trustee -Finance Hon. Trustee – Accounts**
**6 August 2023**
## **SINAI MAR THOMA CHURCH NORTH LONDON**
## **Independent Examiner’s Report to the Trustees and Members of**
## **Sinai Mar Thoma Church North London (Charity reg no. 1136866)**
We report on the accounts of the charity for the year ended 31[st] March 2023, which are set out on following pages.
## **Respective responsibilities of trustees and the independent examiners.**
The charity’s trustees are responsible for the preparation of the accounts and they consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.
It is our responsibility to:
- examine the accounts under section 145 of the 2011 Act ,
- to follow the procedures laid down in the general Directions given by the Charity commission under section 145 (5) (b) of the 2011 Act , and
- to state whether particular matters have come to our attention.
## **Basis of independent examiner’s statement.**
Our examination was carried out in accordance with general Direction given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with our examination, no matter has come to our attention
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which agree with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met ; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Mr Dileep Cherian ( Hon. Independent Examiner) _________________**
**Mr Thomas Alexander ( Hon. Independent Examiner) _________________**
**Dated: July 2023**
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Sinai Mar Thoma Church North London
Statement Of Financial Activities for the year ended 31st March 2023
Fig in £ £ £ £
Total Funds Total Funds
Notes Unrestricted Restricted 31st March 31st March
Funds Funds 2023 2022
Income
Subscription 2 44,995 44,995 44,014
Offertory 3 18,258 50 18,308 12,972
Harvest festival 3,753 3,753 250
Christmas donation 1,505 1,505 2,284
Tax Refund- Gift Aid 32,497 32,497 37,525
Other Receipts 4 8,637 1,471 10,108 11,986
Donation for Parsonage and Church development 5 0 3,363 3,363 2,154
Total Income 109,645 4,884 114,529 111,185
Total Funds Total Funds
Notes Unrestricted Restricted 31st March 31st March
Expenditure Funds Funds 2023 2022
Staff Cost 29,355 29,355 15,677
Parsonage Expenses 6 6,264 6,264 2,117
Vehicle Expenses 749 749 0
Vicar's Transfer Cost 7 9,000 9,000 9,000
Rent 8 7,320 7,320 7,350
Diocesan Contribution 9 5,060 5,060 5,075
Visiting Bishops & Clergy 1,821 1,821 200
Insurance 998 998 960
Printing, Postage & Stationery 1,344 1,344 827
Telephone & Internet 812 812 874
Altar Expenses 110 110 140
Donations 10 277 1,150 1,427 0
Church Activity Expenses 11 5,352 5,352 1,839
Sundry Expenses 12 610 610 202
Depreciation 13 1,947 1,947 0
Total Expenditure 71,019 1,150 72,169 44,261
Net Surplus for the Year 38,626 3,734 42,360 66,924
The attached notes 1 - 19 form part of the accounts.
**----- End of picture text -----**
|**SINAI MAR THOMA CHURCH NORTH LONDON**
**BALANCE SHEET AS AT 31st MARCH 2023**|**SINAI MAR THOMA CHURCH NORTH LONDON**
**BALANCE SHEET AS AT 31st MARCH 2023**|**SINAI MAR THOMA CHURCH NORTH LONDON**
**BALANCE SHEET AS AT 31st MARCH 2023**|**SINAI MAR THOMA CHURCH NORTH LONDON**
**BALANCE SHEET AS AT 31st MARCH 2023**|
|---|---|---|---|
|**FIXED ASSETS**
Tangible fixed assets
**CURRENT ASSETS**
Debtors
Cash at Bank and in hand
**LESS CURRENT LIABILITIES**
Creditors and Accruals
Due within one year
**NET CURRENT ASSETS**
Less
Provision for Vicar's relocation cost
**NET ASSETS**
Represented by:
Designated Funds (ear marked)
Unrestricted Funds
Restricted Funds|**Notes**
£
£
£
£
**31st March 2023**
**31st March 2022**|||
||13
14
15
7
17
16
16
16|1,585
160,937|318,167
300,878
755
146,246
147,001
982
160,417
146,019
478,584
446,897
11,748
17,927|
|||162,522
2,105||
||||**466,836**
**428,970**
10,361
23,650
374,395
354,977
82,080
50,343|
||||**466,836**
**428,970**|
The financial statements were approved by the Trustees on **August 2023** and were signed on its behalf by :
Rev Thomas John President ________________________
Mr Abraham Jacob Trustee - Treasurer ________________________ Mr Ashley Challackal Trustee - Accounts ________________________
## **Notes to the accounts for the year ended 31st March 2023**
## 1 **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
## **a. General**
The financial statements have been prepared under the historical cost convention.The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Income**
All incomes are recognised in the Statement of Financial Activities when received.
## **Expenditure**
Expenditures are accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category.Where costs cannot be directly attributed to particular heading, they have been allocated to activities on a basis consistent with the use of resources.
## **b. Depreciation**
Depreciation is provided on fixed assets on straight line basis using the following rates:
Free hold property nil ( provided at 1% in earlier years) Computer and office equipment 25% on cost Furniture and fittings 25% on cost Motor Vehicles 20% on cost
## **c. Gift aid**
Gift aid recovered on gift aid donations are recognised as income in the period actually received.
## 2 **SUBSCRIPTION**
This consist of voluntary contribution by members by monthly standing order in most cases.
## **3 OFFERTORY**
|**OFFERTORY**
Offertory
Birthday Offertory
Wedding Anniversary offertory
Offertory - Sunday School
Baptism & marriage offertory
Fasting Offertory**
Thanks Giving Etc.|**2023**
**2022**
£
£
11,014
5,895
3,790
4,070
1,215
1,835
414
482
125
590
50
0
1,700
100|
|---|---|
||**18,308**
**12,972**|
** Restricted Funds
**----- Start of picture text -----**
2023 2022
4 OTHER RECEIPTS £ £
Council Tax refund -Prior years 0 3,415
Family Sunday 0 930
Donation for ASSH project** 1,471 1,621
Donation for Zonal contribution 800 1,850
Covid Appeal** 0 1,025
One day income 4,912 2,040
Catering sponsorship- Christmas Service 0 550
Youth Sunday 0 50
Sunday School Books etc 1,233 365
First Communion service 260 140
Sevika Sangam sales 1,282 0
Miscellaneous Donation 150 0
10,108 11,986
** Restricted Funds
2023 2022
5 Donation for Church £ £
Donation for Church Development Fund ** 3,363 2,154
3,363 2,154
** Restricted Funds
2023 2022
£ £
6 PARSONAGE EXPENSES
Repair & Maintenance 3,123 853
Utility cost 1,945 1,105
Television Licence Fee 159 159
Furnishing cost 1,037 0
6,264 2,117
2023 2022
£ £
7 PROVISION FOR VICAR'S TRANSFER COST
Balance brought forward 1st April 2022 17,927 8,927
Provision made in the year 9,000 9,000
Less: Utilised Fund During the Year -15,179 0
Balance carried fwd. 31st March 2023 11,748 17,927
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2023 2022
8 RENT £ £
Rent (All Saints Church-Harrow) 7,200 7,200
Rent (St. Albans Church- Northampton) 120 150
7,320 7,350
2023 2022
9 Diocesan Contributions £ £
Zonal contributions 5,060 1,850
Diocesan contributions 0 2,200
Covid Appeal** 0 1,025
** Restricted Funds 5,060 5,075
2023 2022
10 Donations £ £
Earth quake relief 277 0
Mencap** 1,150 0
** Restricted Funds 1,427 0
2023 2022
£ £
11 CHURCH ACTIVITY EXPENSES
Sunday School 3,494 478
Harrow interfaith subscription 25 0
Special Occasion Catering 1,454 810
VISA Sponsorship licence fee 0 501
Youth Sunday 0 50
Choir 229 0
Sevika Sangham 150 0
5,352 1,839
2023 2022
£ £
12 SUNDRY EXPENSES
First Communion & Marriage - Bibles 143 178
Software licence fee - Payroll RTI 54 24
Website hosting licence fee 413 0
610 202
**----- End of picture text -----**
## **13 FIXED ASSETS**
|**13**|**FIXED ASSETS**||||||
|---|---|---|---|---|---|---|
|||Office|Furniture|Motor|Freehold||
|||Equipment|& Fitting|Vehicle|Property|Total|
|||£|£|£|£|£|
||**Cost**||||||
||**At 01/4/2022**|2,688|8,670|0|326,798|338,156|
||Additions during the year|947||18,289||19,236|
||**At 31/03/2023**|**3,635**|**8,670**|**18,289**|**326,798**|**357,392**|
||Less: Depreciation||||||
||**At 01/4/2022**|2,688|8,670|0|25,920|37,278|
||Charge for the year|118|0|1,829|0|1,947|
|||**2,806**|**8,670**|**1,829**|**25,920**|**39,225**|
||**Net Book Value**||||||
||At 01/4/2022|0|0|0|300,878|300,878|
||**At 31/03/2023**|**829**|**0**|**16,460**|**300,878**|**318,167**|
||||**31st**|**March 2023**|**31st March 2022**||
|**14**|**DEBTORS**|||£||£|
||Prepayments|||1,585||705|
||Zonal Payment due|||0||50|
|||||**1,585**||**755**|
||||**31st**|**March 2023**|**31st March 2022**||
|||||£||£|
|**15**|**CREDITORS AND ACCRUALS**||||||
||Creditors (Students sponsorship - 2018-19/2019-2020)|||982||982|
||Due to HMRC (Tax & NI )|||1,123|||
|||||**2,105**||**982**|
|**16**|**FUNDS MOVEMENT**||||||
||||General|Designated|Restricted|Total|
||||Fund *|Fund|Fund|Fund|
||||£|£|£|£|
||**As at 1st April 2022**||354,977|23,650|50,343|428,970|
||Net Surplus for the year||38,626||4,884|43,510|
||Transferred to Vehicle fund||-5,000|5,000|0|0|
||Transferred to Church development Fund||-32,497||32,497|0|
||COMPE Centre Fund||0|0|6,250|6,250|
||Utilised during the year||18,289|18,289|11,894|11,894|
||**As at 31st March 2023**||**374,395**|**10,361**|**82,080**|**466,836**|
||* Unrestricted Funds||||||
||**DESIGNATED FUNDS**||£|£|£|£|
|||||Vicar's|Other||
||||Vehicle|Transfer cost|Designated|Total|
||||Fund|Fund|Funds|Fund|
||**As at 1st April 2022**||20,500|17,927|3150|41,577|
||Utilised during the year||18,289|15,179|0|33,468|
||Transfer from General Funds||5,000|9,000|0|14,000|
||**As at 31st March 2023**||**7,211**|**11,748**|**3,150**|**22,109**|
## **17 NET ASSETS ALLOCATION BETWEEN FUNDS**
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||||||
|---|---|---|---|---|
|Unrestricte|Designated|Restricted|Total|
|d £|£|£|£|
|Tangible Fixed Assets|318,167|318,167|
|Current Assets|70,081|10,361|82,080|162,522|
|Current Liabilities|-2,105|-2,105|
|Provisions for Vicar's relocation|-11,748|-11,748|
|374,395|10,361|82,080|466,836|
**----- End of picture text -----**
## **Movement in Designated Funds and Restricted Funds in the year**
**----- Start of picture text -----**
As at 1.4.2022 During the period 1.4.2022 to 31.3.2023
Allocation/
Balance Payments Balance
FUNDS Receipts
Motor Vehicle Fund £20,500.00 £5,000.00 £18,289.00 £7,211.00
Youth Fund £750.00 £0.00 £0.00 £750.00
Family Conference £1,000.00 £0.00 £0.00 £1,000.00
Centre Meeting £1,400.00 £0.00 £0.00 £1,400.00
Designated funds Total £23,650.00 £5,000.00 £18,289.00 £10,361.00
Restricted Funds
Fasting Offertory £1,334.00 £50.00 £1,150.00 £234.00
Sevika Sangham £555.00 £0.00 £0.00 £555.00
ASSH-Fund £13,366.00 £1,471.00 £0.00 £14,837.00
Sunday School £194.00 £0.00 £194.00 £0.00
Parsonage Furnishing £1,500.00 £0.00 £750.00 £750.00
COMPE Centre Fund £3,550.00 £6,250.00 £9,800.00 £0.00
Church Development Fund £29,844.00 £35,860.00 £0.00 £65,704.00
Restricted Fund Total £50,343.00 £43,631.00 £11,894.00 £82,080.00
**----- End of picture text -----**
## **18 TRUSTEES REMUNERATION AND EXPENSES**
No remuneration was paid or payable directly or indirectly out of the funds of the church during the year ,to any trustees or to any persons known to be connected with the church except the Vicar of the church.The Vicar's remuneration was paid in accordance with the terms of his appointment and accomodation was also provided.All actual expenses incurred by the Vicar for pastorial and for carrying out his duties were reimbursed to him.
## **19 RELATED PARTY DISCLOSURES**
There were no related party transactions during the year ended 31st March 2023.
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CASH FLOW STATEMENT FOR THE YEAR Fig in £
31st March 31st March
2023 2022
Net income 42,360 66,924
Assets addition -19,236 0
Depreciation charge 1,947 0
Increase/(Decrease) in debtors -830 -70
Increase/(decrease) in creditors falling due within one year 1,123 -4,309
Unsecured loan repaid 0 -10,000
Increase/(Decrease) in restricted fund -944 0
COMPE Centre Fund -3,550 3,550
Increase/decrease in provision for Vicar's transfer cost fund -6,179 9,000
Net cash flow in the year 14,691 65,095
Bank balances at 31.03.2022 146,246 81,151
Bank balances at 31.03.2023 160,937 146,246
Increase in bank balances 14,691 65,095
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