Trustees Report for year ended 31.3.2024
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. Rohit Christopher Mr. Biju 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:
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a. Select suitable accounting policies and apply them consistently
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b. Make judgements and estimates that are reasonable and prudent
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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.
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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 2024.
For and on behalf of the managing committee,
Alex Philip
Hon. Secretary
Daniel Papachan Ashley Challackal
Hon. Trustee -Finance Hon. Trustee – Accounts
16 June 2024
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 2024, 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:
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examine the accounts under section 145 of the 2011 Act ,
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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
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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
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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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 Rohit Christopher ( Hon. Independent Examiner) _____
Mr Biju Cherian ( Hon. Independent Examiner) _____
Dated: 30 May 2024
Fig in £
Sinai Mar Thoma Church North London Statement Of Financial Activities for the year ended 31st March 2024
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Total Funds Total Funds
Notes Unrestricted Restricted 31st March 31st March
Funds Funds 2024 2023
Income
Subscription 2 47,047 47,047 44,995
Offertory 3 25,125 583 25,708 18,308
Harvest festival 60 60 3,753
Christmas donation 3,076 3,076 1,505
Tax Refund- Gift Aid 0 0 32,497
Other Receipts 4 9,852 1,083 10,935 10,108
Donation for Parsonage and Church development 5 4,143 4,143 3,363
Total Income 85,160 5,809 90,969 114,529
Total Funds Total Funds
Notes Unrestricted Restricted 31st March 31st March
Expenditure Funds Funds 2024 2023
Staff Cost 29,663 29,663 29,355
Parsonage Expenses 6 4,964 4,964 6,264
Vehicle Expenses 1,468 1,468 749
Vicar's Transfer Cost 7 9,000 9,000 9,000
Rent 8 8,075 8,075 7,320
Diocesan Contribution 9 5,198 5,198 5,060
Visiting Bishops & Clergy 877 877 1,821
Insurance 1,900 1,900 998
Printing, Postage & Stationery 654 654 1,344
Telephone & Internet 1,262 1,262 812
Altar Expenses 404 404 110
Donations 10 0 0 1,427
Church Activity Expenses 11 5,848 5,848 5,352
Sundry Expenses 12 2,036 2,036 610
Depreciation 13 3,895 3,895 1,947
Total Expenditure 75,244 0 75,244 72,169
Net Surplus for the Year 9,916 5,809 15,725 42,360
The attached notes 1 - 19 form part of the accounts.
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| SINAI MAR THOMA CHURCH NORTH LONDON BALANCE SHEET AS AT 31st MARCH 2024 |
SINAI MAR THOMA CHURCH NORTH LONDON BALANCE SHEET AS AT 31st MARCH 2024 |
SINAI MAR THOMA CHURCH NORTH LONDON BALANCE SHEET AS AT 31st MARCH 2024 |
SINAI MAR THOMA CHURCH NORTH LONDON BALANCE SHEET AS AT 31st MARCH 2024 |
|---|---|---|---|
| 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 2024 31st March 2023 |
||
| 13 14 15 7 17 16 16 16 |
1,095 190,414 |
314,272 318,167 1,585 160,937 162,522 2,105 189,037 160,417 503,309 478,584 20,748 11,748 |
|
| 191,509 2,472 |
|||
| 482,561 466,836 15,361 10,361 379,311 374,395 87,889 82,080 |
|||
| 482,561 466,836 |
The financial statements were approved by the Trustees on May 2024 and were signed on its behalf by :
Rev Thomas John President ______
Mr Daniel Papachan Trustee - Treasurer ___ Mr Ashley Challackal Trustee - Accounts ___
Notes to the accounts for the year ended 31st March 2024
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 Recessa & Fasting Offertory** Thanks Giving |
2024 2023 £ £ 13,606 11,014 7,211 3,790 2,000 1,215 595 414 130 125 583 50 1,583 1,700 |
|---|---|
| 25,708 18,308 |
** Restricted Funds
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2024 2023
4 OTHER RECEIPTS £ £
Donation for ASSH project 1,083 1,471
Donation for Zonal contribution 1,000 800
One day income 3,208 4,912
Sunday School Books etc 1,366 1,233
First Communion service 0 260
Special catering 857 0
Sevika Sangam sales 1,635 1,282
Badminton Tournament 1,786 0
Miscellaneous Donation 0 150
10,935 10,108
Restricted Funds
2024 2023
5 Donation for Church ** £ £
Donation for Church Development Fund 3,390 3,300
Interest earned (Bank) 753 63
4,143 3,363
Restricted Funds
2024 2023
£ £
6 PARSONAGE EXPENSES
Council Tax 2,163 0
Repair & Maintenance 335 3,123
Utility cost 2,307 1,945
Television Licence Fee 159 159
Furnishing cost 0 1,037
4,964 6,264
2024 2023
£ £
7 PROVISION FOR VICAR'S TRANSFER COST
Balance brought forward 1st April 2023 11,748 17,927
Provision made in the year 9,000 9,000
Less: Utilised Fund During the Year 0 -15,179
Balance carried fwd. 31st March 2024 20,748 11,748
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2024 2023
8 RENT £ £
Rent (All Saints Church-Harrow) 7,200 7,200
Rent (Blackwell Hall) 585 0
Rent (St. Albans Church- Northampton) 290 120
8,075 7,320
2024 2023
9 Diocesan Contributions £ £
Zonal contributions 4,098 5,060
Mar Thoma Centre meeting 1,000 0
Clergy conference 100 0
5,198 5,060
2024 2023
10 Donations £ £
Earth quake relief 0 277
Mencap 0 1,150
Restricted Fund 0 1,427
2024 2023
£ £
11 CHURCH ACTIVITY EXPENSES
Sunday School 3,631 3,494
Harrow interfaith subscription 50 25
Special Occasion Catering 1,070 1,454
Church Picnic 50 0
Choir 247 229
Sevika Sangham 800 150
5,848 5,352
2024 2023
£ cost
12 SUNDRY EXPENSES
First Communion & Marriage - Bibles 0 143
Mandalam Rep. travel cost 963 0
Software licence fee - Payroll RTI 72 54
Website hosting licence fee 797 413
All Saints church maintenace contribution 204 0
2,036 610
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13 FIXED ASSETS
| 13 FIXED ASSETS |
|||
|---|---|---|---|
| Cost At 01/4/2023 Additions during the year |
Office Equipment £ 3,635 |
Furniture & Fitting £ 8,670 |
Motor Freehold Vehicle Property Total £ £ £ 18,289 326,798 357,392 0 |
| At 31/03/2024 | 3,635 | 8,670 | 18,289 326,798 357,392 |
| Less: Depreciation At 01/04/2023 Charge for the year |
2,806 237 |
8,670 0 |
1,829 25,920 39,225 3,658 0 3,895 |
| 3,043 | 8,670 | 5,487 25,920 43,120 |
|
| Net Book Value At 01/04/2023 |
829 | 0 | 16,460 300,878 318,167 |
| At 31/03/2024 | 592 | 0 | 12,802 300,878 314,272 |
| 14 DEBTORS Prepayments |
31st | March 2024 31st March 2023 £ £ 1,095 1,585 |
|
| 1,095 1,585 |
|||
| 15 CREDITORS AND ACCRUALS Creditors (Students sponsorship - 2018-2020) Due to HMRC (Tax & NI ) |
31st | March 2024 31st March 2023 £ £ 982 982 1,490 1,123 |
|
| 2,472 2,105 |
|||
| 16 FUNDS MOVEMENT As at 1st April 2023 Net Surplus for the year Transferred to Vehicle fund Utilised during the year |
General Fund * £ 374,395 9,916 -5,000 0 |
Designated Fund Restricted Fund Total Fund £ £ £ 10,361 82,080 466,836 5,809 15,725 5,000 0 0 0 0 |
|
| As at 31st March 2024 | 379,311 | 15,361 87,889 482,561 |
|
| * Unrestricted Funds DESIGNATED FUNDS As at 1st April 2023 Utilised during the year Transfer from General Funds |
£ Vehicle Fund 7,211 0 5,000 |
£ £ £ Vicar's Transfer cost Fund Other Designated Funds Total Fund 11,748 3150 22,109 0 0 0 9,000 0 14,000 |
|
| As at 31st March 2024 | 12,211 | 20,748 3,150 36,109 |
17 NET ASSETS ALLOCATION BETWEEN FUNDS
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||||||
|---|---|---|---|---|
|Unrestricte|Designated|Restricted|Total|
|d £|£|£|£|
|Tangible Fixed Assets|314,272|314,272|
|Current Assets|88,259|15,361|87,889|191,509|
|Current Liabilities|-2,472|-2,472|
|Provisions for Vicar's relocation|-20,748|-20,748|
|379,311|15,361|87,889|482,561|
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Movement in Designated Funds and Restricted Funds in the year
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As at 1.4.2023 During the period 1.4.2023 to 31.3.2024
Allocation/
Balance Payments Balance
FUNDS Receipts
Motor Vehicle Fund £7,211.00 £5,000.00 £0.00 £12,211.00
Youth Fund £750.00 £0.00 £750.00
Family Conference £1,000.00 £0.00 £1,000.00
Centre Meeting £1,400.00 £0.00 £1,400.00
Designated funds Total £10,361.00 £5,000.00 £0.00 £15,361.00
Restricted Funds
Fasting Offertory & Recessa £234.00 £583.00 £0.00 £817.00
Sevika Sangham £555.00 £0.00 £555.00
ASSH-Fund £14,837.00 £1,083.00 £0.00 £15,920.00
Parsonage Furnishing £750.00 £0.00 £750.00
Church Development Fund £65,704.00 £4,143.00 £0.00 £69,847.00
Restricted Fund Total £82,080.00 £5,809.00 £0.00 £87,889.00
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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 2024.
| CASH FLOW STATEMENT FOR THE YEAR | Fig in £ | Fig in £ |
|---|---|---|
| Net income Assets addition Depreciation charge Increase/(Decrease) in debtors Increase/(decrease) in creditors falling due within one year Increase/(Decrease) in restricted fund COMPE Centre Fund Increase/decrease inprovision for Vicar's transfer cost fund |
31st March 2024 |
31st March 2023 |
| 9,916 0 3,895 490 367 5,809 0 9,000 |
42,360 -19,236 1,947 -830 1,123 -944 -3,550 -6,179 |
|
| Net cash flow in theyear | 29,477 | 14,691 |
| Bank balances at 31.03.2023 Bank balances at 31.03.2024 |
160,937 | 146,246 |
| 190,414 | 160,937 | |
| Increase in bank balances | 29,477 | 14,691 |