**Charity number 1139569**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**YEAR ENDED 5 APRIL 2021**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **FOR THE YEAR ENDED 5 APRIL 2021**
|**Contents**||
|---|---|
||**Page**|
|Legal and Administrative Information|1|
|Report of the Trustees|2 - 5|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Statement of cash flows|9|
|Notes forming part of the Financial Statements|10 - 17|
**Page 1**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **CHARITY INFORMATION**
|**Trustees**||
|---|---|
||Mr M Neoman|
||Dr I Tadros|
||Mr A Shahata|
||Mr N Abdelsaid|
||Mr A Seha|
||Dr G Yanni|
||Mr N Boutros|
|**Custodian Trustees**|Dr G Yanni|
||Dr I Tadros|
||Mr N Boutros|
|**Registered Charity Number**|1139569|
|**Registered office**|Cranbourne Gardens|
||London|
||NW11 0HS|
|**Independent Examiner**|Mr Richard Buckby FCA|
||Fortus Midlands Limited|
||Hamilton Office Park|
||31 High View Close|
||Leicester|
||Leicestershire|
||LE4 9LJ|
|**Bankers**|HSBC Plc|
||40 Temple Fortune Parade|
||London|
||NW11 0QY|
**Page 2**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **REPORT OF THE TRUSTEES**
## **FOR YEAR ENDED 5 APRIL 2021**
The Trustees present their report along with the financial statements of the charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **Objectives and Activities**
The object of the charity is to promote the Coptic Orthodox Church in the United Kingdom and the Republic of Ireland. In furtherance of this object the Trustees may provide and maintain places of public worship, carry out religious services, pay the priests salaries, hold religious and other meetings in connection with the Coptic Orthodox Church and provide assistance for the needy in the United Kingdom and abroad.
## **Coptic Orthodox Diocese of London**
St Mary and Archangel Michael Coptic Orthodox Church is part of the Coptic Orthodox Diocese of London
## **Summary of the main achievements of the charity**
The church, which is based in Golders Green, is open most days of the week for celebrating the Divine Liturgy, prayer meetings, seminars, group discussions, Bible studies, Coptic language lessons, Coptic hymns lessons and other church activities.
During the year, the youths of the church attended and organised conferences, retreats and trips in the UK and abroad.
The church has sports activities and has football and basketball teams which play and compete against teams of other Coptic churches in the UK.
## **Performance of fundraising activities against objectives**
During the year, the church has collected funds from the congregation to pay for its running expenses and donate to some poor families in the community.
## **Investment performance against objectives**
Due to the low interest currently paid by the banks, the return from the funds invested by the charity in a Money Market bank was low at £258 (2020: £1,240).
**Page 3**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **REPORT OF THE TRUSTEES - CONTINUED**
## **FOR YEAR ENDED 5 APRIL 2021**
## **Financial Review**
The statement of financial activities is set out on page 7 and shows the result of the year. The charity incurred costs in furtherance of its objects of £192,913 (2020: £239,027). After taking into account these expenses and other management and administrative expenses of £5,632 (2020: £5,417) the net incoming resources for the year were £83,671 (2020: £70,061). At 5 April 2021, as shown on the balance sheet on page 8, the charity has net assets of £1,386,064 (2020: £1,302,393), which were mainly held in fixed assets as shown on note 6 and on bank deposits and current accounts.
## **The charity’s principal sources of funds**
The charity’s main source of funding were the payments made by its members in the form of donations received and church collection.
## **The charity’s expenditure**
The expenditure during the year was incurred in maintaining the church and the hall, making them available to the public to use for worship and social activities; the payment of the priest’s salaries and expenses, the provision of Sunday schools to teach the children the faith of the church and to provide help to the needy in the community.
## **Reserves policy**
The Trustees aim to keep in reserves at any point of time three months of expenditure to cover unplanned emergency repairs to the church building and other expenses. The amount of reserves held at the year end was £1,385,912 (2020: £1,302,241) of which £274,544 (2020: £416,424), are regarded as free reserves after allowing for funds tied up in tangible fixed assets.
## **Investment policy and objectives**
The Trustees’ investment powers are governed by the Trust Deed, which permits the Charity’s funds to be invested in properties, any cash investments and chattels as they see fit. The Trustees have considered the most appropriate policy for investing the charity’s funds and decided to keep it in a Money Market bank account which to have it available for paying for the project of building a new hall, that is currently in progress.
## **Risk management**
The main risks which may face the charity is the reduction in donations from the congregation. The charity relies on donations from a large number of donors, not a few individuals, which reduces the risk of huge fluctuations in the income from donations.
**Page 4**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **REPORT OF THE TRUSTEES - CONTINUED FOR YEAR ENDED 5 APRIL 2021**
## **Future plans**
The charity obtained a planning permission and has demolished the old church hall building and started building a four storey building, including a basement. The new building will be used by the church for its activities and by the community as a nursery. The project is expected to take 19 months to complete and its estimated cost will be about £3.2 million. The charity reached an agreement with Charity Bank for funding the project, and the work will start as soon as a contract is signed with a contractor to carry out the work.
## **Description of charity’s trusts**
The charity was formed on 18 November 2010 as an incorporated trust, registered with the Charity Commission, registration number 1139569 on 30 December 2010 and is governed by the Charities Act 2011 and its Trust deed dated 18 November 2010.
## **Trustee selection methods**
The charity is managed by the Church Council consisting of the Presiding Bishop, the Priests of the Church and not less than five Council Members, who are selected from time to time by the Church Council and appointed by His Eminence the Archbishop of The Coptic Orthodox Church in London.
All members of the Church Council are Trustees of the Charity, on ceasing to be a member of the Church Council, that individual will also cease to be a Trustee of the Charity.
## **Names of the charity trustees who manage the charity**
The Trustees who served during the year were as stated below:
Mr M Neoman Dr G Yanni Dr I Tadros Mr A Seha Mr N Abdelsaid Mr N Boutros Mr A Shahata
## **Policies and procedures adopted for the induction and training of trustees**
The trustees are members of the church and as such are familiar with the practical work of the charity. New trustees are given training by existing trustees on:
- The Church Constitution,
- The current financial position as set out in the published accounts,
- Future plans and objectives.
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **Page 5**
## **REPORT OF THE TRUSTEES - CONTINUED FOR YEAR ENDED 5 APRIL 2021**
## **The charity’s organisational structure and any wider network with which the charity works**
Saint Mary and Archangel Michael Coptic Orthodox Church is an indivisible part of the Coptic Orthodox Church in Egypt which has as its Supreme Head, the Pope of Alexandria and derives its spiritual authority to function from the Holy Council of the Coptic Orthodox Patriarchate in Cairo, Egypt. such authority cannot be changed, altered, modified or revoked.
The Coptic Orthodox Archbishop of London is appointed by the Holy Synod of the Coptic Orthodox Church by written decree over the area, known as the Diocese of London, which includes this charity.
## **Decision making**
The trustees of St Mary and Archangel Michael Coptic Orthodox Church, in consultation with the Coptic Orthodox Bishop of London and the priests of the church take decisions on all matters concerning the administration of the charity. Decisions on the church spiritual services to the congregation are taken by the Coptic Orthodox Archbishop of London and the priests.
## **Statement of trustees’ responsibilities in relation to financial statements**
The trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees 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 financial statements giving a true and fair view, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the 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 disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The trustees 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.
Approved by the Board of Trustees and signed on behalf of the board on 31 January 2022
……………………………….
George A Yanni Trustee
**Page 6**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
I report to the trustees on my examination of the accounts of Saint Mary and Archangel Michael Coptic Orthodox Church (‘the charity’) for the year ended 5 April 2021, which are set out on pages 7 to 17.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.
## **Independent examiner’s statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Richard Buckby FCA Fortus Midlands Limited Hamilton Office Park 31 View Close Leicester LE4 9LJ
Date: 31 January 2022
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 7**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**funds 2021**|**funds 2021**|**2021**|**2020**|
||**Note**|**£**|**£**|**£**||
|**Income**|3|||||
|Donations||266,122|-|266,122|280,669|
|Charitable activities||13,516|-|13,516|21,152|
|Investment income||258|-|258|1,240|
|Other incoming resources||2,320|-|2,320|11,444|
|||------------|------------|------------|------------|
|**Total incoming resources**||282,216|-|282,216|314,505|
|||------------|------------|------------|------------|
|**Expenditure**|4|||||
|Charitable activities||192,913|-|192,913|239,027|
|Other||5,632|-|5,632|5,417|
|||------------|------------|------------|------------|
|||198,545|-|198,545|244,444|
|||------------|------------|------------|------------|
|**Net income and net movement in**||||||
|**funds for the year**||83,671|-|83,671|70,061|
|Total funds brought forward at||||||
|6 April 2020||1,302,241|152|1,302,393|1,232,332|
|Transfer between funds||||-|-|
|||------------|------------|------------|------------|
|**Total funds carried forward**||||||
|**5 April 2021**||1,385,912|152|1,386,064|1,302,393|
|||------------|------------|------------|------------|
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 8**
## **BALANCE SHEET AT 5 APRIL 2021**
|||**Total**|**Total**|
|---|---|---|---|
|||**2021**|**2020**|
||**Note**|**£**|**£**|
|**Fixed assets**||||
|Tangible assets|6|1,111,368|885,817|
|**Current assets**||||
|Debtors|7|63,081|77,153|
|Cash at bank and in hand|8|371,111|523,695|
|||------------|------------|
|Total current assets||434,192|600,848|
|Creditors: Amounts falling due within one year|9|(34,496)|(35,772)|
|||------------|------------|
|**Net current assets**||399,696|565,076|
|||------------|------------|
|**Total assets less current liability**||1,511,064|1,450,893|
|Creditors: Amounts falling due after more than||||
|one year|10|(125,000)|(148,500)|
|||------------|------------|
|**Total net assets**||1,386,064|1,302,393|
|||------------|------------|
|**Funds of the Charity**||||
|Restricted income funds||152|152|
|Unrestricted funds||1,385,912|1,302,241|
|||------------|------------|
|**Total funds**||1,386,064|1,302,393|
|||------------|------------|
The financial statements were approved and authorised for issue by the Board on 31 January 2022 and signed on behalf of the board by
……………………………….
## **George Yanni Trustee**
The notes on pages 10 to 17 form part of these financial statements.
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 9**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2021**
||||**2021**||**2020**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**Cash flows from operating activities**|14||86,326||43,174|
|**Cash flows from investing activities**||||||
|Income from investments||258||1,240||
|Purchase of fixed assets||(239,168)||(143,929)||
|||------------||------------||
|**Net cash used in investing activities**|||(238,910)||(142,689)|
|**Cash flows from financing activities:**||||||
|Proceeds from new borrowings|||-||-|
||||------------||------------|
|Change in cash in the year|||(152,584)||(99,515)|
|Cash at 6 April 2020|||523,695||623,210|
||||------------||------------|
|**Cash at 5 April 2021**|||371,111||523,695|
||||------------||------------|
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 10**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **1. Basis of preparation**
## **1.1**
## **Basis of accounting**
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’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **1.2 Going concern**
The trustees consider that there are no uncertainties about the charity’s ability to continue as a going concern. The donation from the church’s large congregation will cover any future liabilities.
## **1.3 Change of accounting estimates**
No changes to the accounting estimates have occurred in the reporting period.
## **1.4 Material prior year errors**
No material prior error has been identified in the reporting period.
## **2. Accounting policies**
## **2.1 Income**
## **Recognition of income**
Income is recognised in the period in which the charity is entitled to receive and the amount can be measured with reasonable certainty. All voluntary income which comprises of donations, collection and church boxes is included in income on a receivable basis. Investment income is accounted for on amounts receivable in the year.
## **Tax reclaim on donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor **.**
## **Income from membership subscriptions**
Membership contributions received in the nature of a gift are recognised in Donations and Legacies.
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 11**
**NOTES FORMING PART OF THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
________________________________________________________________________________________
## **2.2 Expenditure and liabilities**
## **Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of obligation can be measured with reasonable certainty.
## **Resources expended**
Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of any irrecoverable VAT.
## **Charitable activities**
Direct charitable expenditure includes all staff costs, property and other expenditure directly related to the charitable activities of the charity.
## **Governance and support cost**
Support costs have not been allocated between governance costs and other costs.
Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs include central functions.
## **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **Taxation**
The charity is a registered charity and as such its income and gains falling within the Income Tax Act 2007 are exempt from corporation tax to the extent that they are applied to its charitable objectives.
## **2.3 Assets**
## **Tangible fixed assets for use by the charity**
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Freehold buildings - 2% straight line Office equipment - 15% reducing balance Fixtures, alterations, fittings & equipment - 10% reducing balance for church Building under construction - Not depreciated
## **2.4 Restricted Funds**
The restricted funds relate to donations payable to the RSPCA.
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 12**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
**____________________________________________________________________________________________________________**
|**3**|**Analysis of income**|||||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total funds 2021**|**Total funds 2020**|
|||**Income 2021**|**funds 2021**|||
|||**£**|**£**|**£**|**£**|
||**Donations and legacies**|||||
||Donation and gifts|247,122|-|247,122|275,790|
||Gift Aid|19,000|-|19,000|4,879|
|||------------|------------|------------|------------|
||**Total**|266,122|-|266,122|280,669|
||**Charitable activities**|||||
||Canteen sales|13,516|-|13,516|19,778|
||Bookshop sales|-|-|-|-|
||Transport|-|-|-|950|
||GG Café’|-||-|424|
|||------------|------------|------------|------------|
||**Total**|13,516|-|13,516|21,152|
||**Investment income**|||||
||Interest income|258|-|258|1,240|
|||------------|------------|------------|------------|
||**Total**|258|-|258|1,240|
||**Separate material item of income**|||||
||Hire of Church Hall|-|-|-|-|
||Fundraising|-|-|-|-|
||Other income|2,320|-|2,320|11,444|
|||------------|------------|------------|------------|
||**Total**|2,320|-|2,320|11,444|
|||------------|------------|------------|------------|
||**Total Income**|282,216|-|282,216|314,505|
|||------------|------------|------------|------------|
£Nil income for the year ended 5 April 2020 was attributable to restricted funds.
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 13**
**NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
## **4 Analysis of expenditure**
||**Total funds 2021**|**Total funds 2020**|
|---|---|---|
||**£**|**£**|
|**Expenditure on charitable activities**|||
|Church and community services|21,846|54,250|
|Staff costs|139,457|131,591|
|Property expenses|17,993|39,363|
|Depreciation of tangible assets|13,617|13,823|
||------------|------------|
|**Total expenditure on**|||
|**charitable activities**|192,913|239,027|
|**Other expenditure**|||
|Governance costs|3,292|3,077|
|Independent examination fees|2,340|2,340|
||------------|------------|
|**Total other expenditure**|5,632|5,417|
||------------|------------|
|**Total expenditure**|198,545|244,444|
||------------|------------|
All expenditure for 2021 and 2020 was attributable to unrestricted funds.
|**5.**|**Paid employees**|||
|---|---|---|---|
|**5.1**|**Staff costs**|**2021**|**2020**|
|||**£**|**£**|
||Salaries and wages|121,309|99,772|
||Social security costs|10,316|8,387|
||Stake holder Pension|2,632|2,614|
||Expenses|5,200|20,818|
|||------------|------------|
||**Total staff costs**|139,457|131,591|
|||=======|=======|
||Employees earned more than £60,000 during the year|||
|||**2021**|**2020**|
||Between £60,000 and £69,999|2|1|
|||=======|=======|
|**5.2**|**Average head count in the year**|||
|||**2021**|**2020**|
|||**Number**|**Number**|
||Priests|2|2|
|||=======|=======|
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 14**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
|**6.**
**Tangible fixed assets**||||||
|---|---|---|---|---|---|
||**Land and**|**Office**|**Fixtures,**|**Building Under**|**Total**|
||**Buildings**|**Equipment**|**Fittings &**|**Construction**||
||**Freehold**||**Equipment**|||
||**£**|**£**|**£**|**£**|**£**|
|**Cost**||||||
|At 6 April 2020|747,855|12,748|176,840|351,844|1,289,287|
|Additions|-|-|-|239,168|239,168|
||-------------|-------------|-------------|-------------|-------------|
|At 5 April 2021|747,855|12,748|176,840|591,012|1,528,455|
||=======|=======|=======|=======|=======|
|**Depreciation**||||||
|Basis|Straight line|Reducing|Reducing|No||
|||balance|balance|Depreciation||
|Rate|2%|15%|10%|||
|At 6 April 2020|229,519|10,633|163,318|-|403,470|
|Charge for the year|11,948|317|1,352|-|13,617|
||-------------|-------------|-------------|-------------|-------------|
|At 5 April 2021|241,467|10,950|164,670|-|417,087|
||=======|=======|=======|=======|=======|
|**Net book value**||||||
|At 5 April 2021|506,388|1,798|12,170|591,012|1,111,368|
||=======|=======|=======|=======|=======|
|At 5 April 2020|518,336|2,115|13,522|351,844|885,817|
||=======|=======|=======|=======|=======|
Substantially all assets are held for charitable purposes.
## **7. Debtors**
Prepayments and accrued income Other debtors
**2021 2020 £ £** 3,544 3,544 59,537 73,609 ------------------------63,081 77,153
## **8. Cash at bank and in hand**
Cash at bank
**2021 2020 £ £** 371,111 523,695
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 15**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
## **9. Creditors**
|Amounts falling due within one year|Amounts falling due within one year|||
|---|---|---|---|
|||**2021**|**2020**|
|||**£**|**£**|
|Taxation and social security||3,681|3,512|
|Pension – Nest||512|-|
|Accruals and deferred income||2,340|2,340|
|Other creditors||963|920|
|Sundry creditors||27,000|29,000|
|||-------------|-------------|
|||34,496|35,772|
|||=======|=======|
|**10.**|**Creditors amounts falling due for more than one year**|||
|||**2021**|**2020**|
|||**£**|**£**|
|Long|Term Creditors|125,000|148,500|
|||-------------|-------------|
|||125,000|148,500|
|||=======|=======|
|**11.**|**Financial Instruments**|||
|||**2021**|**2020**|
|||**£**|**£**|
|**Carrying amount of financial assets**||||
|Debt|instruments measured at amortised cost|59,537|73,609|
|||=======|=======|
|**Carrying amount of financial assets**||||
|Financial liabilities measured at amortised cost||3,303|3,260|
|||=======|=======|
## **12. a. Unrestricted Funds**
||**Balance**|**Income**|**Expenditure**|**Transfer**|**Balance at**|
|---|---|---|---|---|---|
||**at**|||**between**|**5 April**|
||**6 April**|||**funds**|**2021**|
||**2020**|||||
||**£**|**£**|**£**|**£**|**£**|
|General reserve funds|1,302,241|282,216|(198,545)|-|1,385,912|
||----------------|----------------|---------------|-----------------|---------------|
||1,302,241|282,216|(198,545)|-|1,385,912|
||========|========|========|========|========|
||**Balance**|**Income**|**Expenditure**|**Transfer**|**Balance at**|
||**at 6 April**|||**between**|**5 April**|
||**2019**|||**funds**|**2020**|
||**£**|**£**|**£**|**£**|**£**|
|General reserve funds|1,135,609|314,505|(244,444)|96,571|1,302,241|
||----------------|----------------|---------------|-----------------|---------------|
||1,135,609|314,505|(244,444)|96,571|1,302,241|
||========|========|========|========|========|
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 16**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
|**12.b.**|**Restricted Funds**||||||
|---|---|---|---|---|---|---|
|||**Balance**|**Income**|**Expenditure**|**Transfer**|**Balance**|
|||**at**|||**between**|**at 5 April**|
|||**6 April**|||**funds**|**2021**|
|||**2020**|||||
|||**£**|**£**|**£**|**£**|**£**|
|RSPCA||152|-|-|-|152|
|||-|-|-|-|-|
|||----------------|----------------|---------------|-----------------|----------------|
|||152|-|-|-|152|
|||========|========|========|========|========|
|||**Balance**|**Income**|**Expenditure**|**Transfer**|**Balance**|
|||**at 6**|||**between**|**at 5 April**|
|||**April**|||**funds**|**2020**|
|||**2019**|||||
|||**£**|**£**|**£**|**£**|**£**|
|RSPCA||152|-|-|-|152|
|Church New Hall||96,571|-|-|(96,571)|-|
|||----------------|----------------|---------------|-----------------|----------------|
|||96,723|-|-|(96,571)|152|
|||========|========|========|========|========|
|**12.c.**|**Analysis of net assets between funds**||||||
||||**Tangible fixed**|**Net current**|**Non-current**|**Total 2021**|
||||**assets**|**assets**|**liabilities**||
||||**£**|**£**|**£**|**£**|
|Unrestricted funds|||1,111,368|399,544|(125,000)|1,385,912|
|Restricted funds|||-|152|-|152|
||||---------------|-----------------|---------------|----------------|
||||1,111,368|399,696|(125,000)|1,386,064|
||||========|========|========|========|
||||**Tangible fixed**|**Net current**|**Non-current**|**Total 2020**|
||||**assets**|**assets**|**liabilities**||
||||**£**|**£**|**£**|**£**|
|Unrestricted funds|||885,817|564,924|(148,500)|1,302,241|
|Restricted funds|||-|152|-|152|
||||---------------|-----------------|---------------|----------------|
||||885,817|565,076|(148,500)|1,302,393|
||||========|========|========|========|
**13. Trustees and related parties**
- **13.1 Transactions with trustees**
The charity has an agreement with Mr Nasrat Abdelsayed for providing professional services as an architect for the hall project. No fees were paid for work carried out during the year (2020: Nil).
**13.2 Trustees’ remuneration and benefits**
The trustees did not receive any remuneration or benefits in the year (2020: Nil).
- **13.3 Trustees expenses** :
The trustees were not reimbursed for any expenses during the year (2020: Nil)
**13.4 Transactions with related parties:** There were no transactions with related parties (2020: Nil).
- **13.5 Key Management Personnel**
The charity considers its Trustees to be its Key Management Personnel who are not remunerated for their services.
**SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**Page 17**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2021**
**14. Reconciliation of net income to net cash flow from operating activities**
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Net income**|||
|**(as per statement of financial activities)**|**83,671**|**70,061**|
|**Adjustments for:**|||
|Depreciation charge|13,617|13,823|
|Income from investments|(258)|(1,240)|
|Increase in debtors|14,072|(8,379)|
|(Decrease)/increase in creditors|(24,776)|(31,091|
||-----------------|----------------|
|**Net cash provided by operating activities**|86,326|43,174|
||-----------------|----------------|
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
**The following pages are for the information of the trustees only and do not form part of the statutory financial statements.**
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2021**
|||**2021**|**2021**||**2020**|
|---|---|---|---|---|---|
||||**£**||**£**|
|**INCOMING RESOURCES**||||||
|Donations and incoming resources||||||
|Membership Contributions||115,788|||110,846|
|Collection and Church Boxes||43,097|||78,742|
|Donations||67,237|||91,081|
|Grant||40,000|||-|
|Charitable activities||||||
|Church Bookshop|||-||-|
|Church canteen||13,516|||19,778|
|Transport|||-||950|
|GG Café|||-||424|
|Investment Income||258|||1,240|
|Other Income||2,320
|||11,444|
|**Total incoming resources**||282,216
|||314,505|
|**RESOURCES EXPENDED**||**2021**|||**2020**|
||**£**|**£**||**£**|**£**|
|**Direct charitable expenditure**||||||
|**Functional Costs**||||||
|**Church Building**||||||
|Rates and water|2,887|||699||
|Light and heat|6,089|||10,663||
|Insurance|8,189|||11,459||
|Repairs, maintenance and decoration|828|||16,542||
|Depreciation|13,617|||13,823||
|||||____||
|||31,610|||53,186|
|**Church and Community Services**||||||
|Transport|-|||3,307||
|Social services|6,400|||6,650||
|Sunday school and education|-|||10,687||
|Church candles and oil|3,365|||5,519||
|Church canteen and bookshop|-|||3,280||
|London Diocese|12,081|||24,807||
|||21,846|||54,250|
|**Priest Accommodation, Salaries and Expenses**||||||
|Fees|121,309|||99,772||
|Social security costs|10,316|||8,387||
|Pension|2,632|||2,614||
|Expenses|5,200|||20,818||
||_________|139,457||__________|131,591|
|**As per income and expenditure account**||192,913|||239,027|
## **SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2021**
|**Governance Costs**|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Office Costs|1,852|1,637|
|Independent Examiners Fees|2,340|2,340|
|Legal & Professional|1,440|1,440|
|**As per income and expenditure account**|5,632|5,417|
|**Total expenditure**|**198,545**
|**244,444**|
|**Net movement in Funds for the year**|**83,671**|7**0,061**|
|**Funds balances brought forward**|1,302,393|1,232,332|
|**at 6 April 2020**|||
|**Funds balances carried forward**|||
|**at 5 April 2021**|**1,386,064**|
**1,302,393**|