REGISTERED CHARITY NUMBER: 1139569
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
FOR
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 5 April 2023
|
|
Page |
|
Report of the Trustees |
1 |
to |
4 |
Independent Examiner's Report |
|
5 |
|
Statement of Financial Activities |
|
6 |
|
Balance Sheet |
|
7 |
|
Cash Flow Statement |
|
8 |
|
Notes to the Cash Flow Statement |
|
9 |
|
Notes to the Financial Statements |
10 |
to |
15 |
Detailed Statement of Financial Activities |
|
16 |
|
REPORT OF THE TRUSTEES
For The Year Ended 5 April 2023
SAINT MARY & ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April 2023.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheobjectofthecharityistopromotetheCopticOrthodoxChurchintheUnitedKingdomand the
RepublicofIreland.InfurtheranceofthisobjecttheTrusteesmayprovideandmaintainplacesof public
worship,carryoutreligiousservices,paythepriestssalaries,holdreligiousandothermeetings in
connectionwiththeCopticOrthodoxChurchandprovideassistancefortheneedyintheUnited Kingdom
and abroad.
Coptic Orthodox Diocese of London
StMaryandArchangelMichaelCopticOrthodoxChurchispartoftheCopticOrthodoxDiocese of
London.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Thechurch,whichisbasedinGoldersGreen,isopenmostdaysoftheweekforcelebratingthe Divine
Liturgy,prayermeetings,seminars,groupdiscussions,Biblestudies,Copticlanguagelessons,Coptic hymns
lessons and other church activities.
Duringtheyear,theyouthsofthechurchattendedandorganisedconferences,retreatsandtripsinthe UK
and abroad.
Thechurchhassportsactivitiesandhasfootballandbasketballteamswhichplayandcompete against
teams of other Coptic churches in the UK.
Fundraising activities
Duringtheyear,thechurchhascollectedfundsfromthecongregationtopayforitsrunningexpenses and
todonatetosomepoorfamiliesinthecommunity,also,topayfortheconstructionofanewchurchhall to
replace the old hall which was becoming too old and not fit to serve the need of the congregation.
FINANCIAL REVIEW
Financial review
The statement of financial activities is set out on page 6 and shows the result of the year.
Thecharityincurredcostsinfurtheranceofitsobjectsof£247,845(2022:£299,666).Aftertakinginto account
theseexpensesandothermanagementandadministrativeexpensesof£8,925(2022:£4,875)the net
incoming resources for the year were £615,767 (2022: £147,516).
At5April2023,asshownonthebalancesheetonpage7,thecharityhasnetassetsof£2,149,347 (2022:
£1,533,580),whichweremainlyheldinfixedassetsasshownonnote6andonbankdepositsand current
accounts.
Page 1
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
REPORT OF THE TRUSTEES For The Year Ended 5 April 2023
FINANCIAL REVIEW
Principal funding sources
Thecharity'smainsourceoffundingwerethepaymentsmadebyitsmembersintheformof donations
received and church collection.
The charity's expenditure
The expenditure during the year was incurred in:
Church activities
Maintainingthechurchandthetemporaryhall,makingthemavailabletothepublictousefor worship
andsocialactivities;thepaymentofthepriest'ssalariesandexpenses,theprovisionofSundayschools to
teach the children the faith of the church and to provide help to the needy in the community.
Construction of the new hall
Paymentsmadetothebuildingcontractors,engineersandadvisersaspartoftheconstructioncosts of
building the new hall.
Interest paid to banks
Thechurchincurredduringtheyear,interestonloansobtainedfromthebanktopayfortheconstruction of
the new hall.
Investment policy and objectives
TheTrustees'investmentpowersaregovernedbytheTrustDeed,whichpermitstheCharity'sfundsto be
investedinproperties,anycashinvestmentsandchattelsastheyseefit.TheTrusteeshaveconsidered the
mostappropriatepolicyforinvestingthecharity'sfundsanddecidedtokeepitinbankaccountsto have
it available for paying for the project of building a new hall, that is currently in progress.
Reserves policy
TheTrusteesaimtokeepinreservesatanypointoftimethreemonthsofexpendituretocover unplanned
emergencyrepairstothechurchbuildingandotherexpenses.Theamountofreservesheldattheyear end
was£2,149,195(2022:£1,533,428)ofwhich£nil(2022:£726),areregardedasfreereservesafterallowing for
funds tied up in tangible fixed assets.
FUTURE PLANS
Thecharityobtainedaplanningpermissionandhasdemolishedtheoldchurchhallbuildingand are
currentlyintheprocessofreplacingitwithafour-storybuilding,includingabasementatan estimated
costof£3.2million.Thenewbuildingwillbeusedbythechurchforitsactivitiesandbythecommunity as
a nursery. The charity reached an agreement with Charity Bank for funding the project.
TheprojectisprogressingwellwithanexpectedcompletionofQ22024andthetotalestimatedcost will
be about £3.2 million.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharitywasformedon18November2010asanincorporatedtrust,registeredwiththe Charity
Commission,registrationnumber1139569on30December2010andisgovernedbytheCharitiesAct 2011
and its Trust deed dated 18 November 2010.
Management of the Charity
ThecharityismanagedbytheChurchCouncilconsistingofTheDiocesanBishop,thePriestsofthe Church,
and not less than five Council Members, who are appointed from time to time by The Diocesan Bishop.
Only the Trustees are voting members of the Council.
Page 2
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
REPORT OF THE TRUSTEES For The Year Ended 5 April 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The Church Trustees
The Trustees of the Charity are appointed by the Diocesan Bishop.
Names of the charity trustees
The Trustees who served during the year were as stated below:
Mr M Neoman
Dr I Tadros
Mr A Shahata
Mr N Abdelsaid
Mr A Seha
Dr G Yanni
Mr N Boutros
Addition to the Church Council
TheArchbishopoftheCopticChurchinLondon,approvedthedecisiontakenduringtheyearby the
TrusteesoftheCharitytoaddthefollowinglaymembersofthechurch,whoarenottrustees,to become
members of the Church Council:
Miss Sarah Henein
Mr Hani Salih
Mr Hani Bushra
Mr Kyrillos Abadir
Mr Makarious Girgis
Mr Magid Mansour
Organisational structure
SaintMaryandArchangelMichaelCopticOrthodoxChurchisanindivisiblepartoftheCoptic Orthodox
ChurchinEgyptwhichhasasitsSupremeHead,thePopeofAlexandriaandderivesitsspiritualauthority to
functionfromtheHolyCounciloftheCopticOrthodoxPatriarchateinCairo,Egypt.suchauthority cannot
be changed, altered, modified or revoked.
TheCopticOrthodoxArchbishopofLondonisappointedbytheHolySynodoftheCopticOrthodox Church
by written decree over the area, known as the Diocese of London, which includes this charity.
Decision making
ThetrusteesofStMaryandArchangelMichaelCopticOrthodoxChurch,inconsultationwiththe Coptic
OrthodoxBishopofLondonandthepriestsofthechurchtakedecisionsonallmattersconcerning the
administrationofthecharity.Decisionsonthechurchspiritualservicestothecongregationaretaken by
the Coptic Orthodox Archbishop of London and the priests.
Induction and training of new trustees
Thetrusteesaremembersofthechurchandassucharefamiliarwiththepracticalworkofthe 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.
Risk management
The main risks which may face the charity is the reduction in donations from the congregation.
Thecharityreliesondonationsfromalargenumberofdonors,notafewindividuals,whichreducesthe risk
of huge fluctuations in the income from donations.
Page 3
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
For The Year Ended 5 April 2023
REPORT OF THE TRUSTEES
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1139569
Principal address
Cranbourne Gardens
London
NW11 0HS
Trustees
M Neoman
Dr I Tadros
A Shahata
N Abdelsaid
A Seha
Dr G Yanni
N Boutros
Independent Examiner
TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ
Approved by order of the board of trustees on 4 February 2024 and signed on its behalf by:
Dr G Yanni - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAINT MARY & ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Independent examiner's report to the trustees of Saint Mary & Archangel Michael Coptic Orthodox Church
IreporttothecharitytrusteesonmyexaminationoftheaccountsofSaintMary&Archangel Michael
Coptic Orthodox Church (the Trust) for the year ended 5 April 2023.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody. I
canconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstitute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
R J Buckby FCA
TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ
4 February 2024
Page 5
SAINT MARY & ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 5 April 2023
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
872,537
-
-
872,537
256,770
615,767
1,533,428
2,149,195 |
Restricted
fund
£
-
-
-
-
-
-
152
152 |
2023
Total
funds
£
872,537
-
-
872,537
256,770
615,767
1,533,580
2,149,347 |
2022
Total
funds
£
447,716
13
4,328 |
|
|
|
|
452,057 |
|
|
|
|
304,541 |
|
|
|
|
147,516
1,386,064 |
|
|
|
|
1,533,580 |
The notes form part of these financial statements
Page 6
SAINT MARY & ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
BALANCE SHEET
5 April 2023
Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one
year
9
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2023
£
2,500,140
36,539
522,490
559,029
(784,822)
(225,793)
2,274,347
(125,000)
2,149,347
2,149,195
152
2,149,347 |
2022
£
1,532,702
52,787
510,387
563,174
(437,296)
125,878
1,658,580
(125,000)
1,533,580
1,533,428
152
1,533,580 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
4 February 2024 and were signed on its behalf by:
G Yanni - Trustee
The notes form part of these financial statements
Page 7
SAINT MARY & ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
CASH FLOW STATEMENT For The Year Ended 5 April 2023
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period |
2023
£
992,813
992,813
(980,710)
-
(980,710)
12,103
510,387
522,490 |
2022
£
574,032
574,032
(434,769)
13
(434,756)
139,276
371,111
510,387 |
|
|
|
The notes form part of these financial statements
Page 8
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE CASH FLOW STATEMENT For The Year Ended 5 April 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease in debtors
Increase in creditors
Net cash provided by operations |
2023
£
615,767
13,272
-
16,248
347,526
992,813 |
2022
£
147,516
13,435
(13)
10,294
402,800
574,032 |
|
|
|
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 6.4.22 |
Cash flow |
At 5.4.23 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank |
510,387 |
12,103 |
522,490 |
|
510,387 |
12,103 |
522,490 |
Total |
510,387 |
12,103 |
522,490 |
The notes form part of these financial statements
Page 9
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 5 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011.The financial
statements have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured
reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Freehold property- 2% on cost
Building under construction- not provided
Fixtures and fittings- 10% on reducing balance
Computer equipment- 15% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of
the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charity's
pensionschemearechargedtotheStatementofFinancialActivitiesintheperiodtowhich they
relate.
continued...
Page 10
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 5 April 2023
2. INVESTMENT INCOME
Deposit account interest
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2023norfor the
year ended 5 April 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended5April2023norfortheyear ended
5 April 2022.
4. STAFF COSTS
STAFF COSTS |
|
|
Wages and salaries
Social security costs
Other pension costs |
2023
£
121,710
8,431
2,632
132,773 |
2022
£
121,668
14,300
2,632 |
|
|
138,600 |
The average monthly number of employees during the year was as follows:
Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts) exceeded
£60,000 was:
5.
£60,001 - £70,000
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable
NET INCOME |
Unrestricted
fund
£
447,716
13
4,328
452,057
304,541
147,516 |
|
2023
2
Restricted
fund
£
-
-
-
-
-
- |
|
2022
2
Total
funds
£
447,716
13
4,328 |
|
|
|
|
|
452,057 |
|
|
|
|
|
304,541 |
|
|
|
|
|
147,516 |
continued...
Page 11
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 5 April 2023
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
6.
TANGIBLE FIXED ASSETS
Building
Freehold
under
property
construction
£
£
COST
At 6 April 2022
747,855
1,025,781
Additions
-
917,710
At 5 April 2023
747,855
1,943,491
DEPRECIATION
At 6 April 2022
253,415
-
Charge for year
11,948
-
At 5 April 2023
265,363
-
NET BOOK VALUE
At 5 April 2023
482,492
1,943,491
At 5 April 2022
494,440
1,025,781
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income |
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
6.
TANGIBLE FIXED ASSETS
Building
Freehold
under
property
construction
£
£
COST
At 6 April 2022
747,855
1,025,781
Additions
-
917,710
At 5 April 2023
747,855
1,943,491
DEPRECIATION
At 6 April 2022
253,415
-
Charge for year
11,948
-
At 5 April 2023
265,363
-
NET BOOK VALUE
At 5 April 2023
482,492
1,943,491
At 5 April 2022
494,440
1,025,781
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income |
- continued
Unrestricted
fund
£
1,385,912
1,533,428
Fixtures
and
fittings
£
176,840
63,000
239,840
165,887
1,095
166,982
72,858
10,953 |
|
Restricted
fund
£
152
152
Computer
equipment
£
12,748
-
12,748
11,220
229
11,449
1,299
1,528
2023
£
36,539
-
36,539 |
|
Total
funds
£
1,386,064 |
|
|
|
|
|
|
1,533,580 |
|
|
|
|
|
|
Totals
£
1,963,224
980,710
2,943,934
430,522
13,272
443,794
2,500,140
1,532,702
2022
£
49,243
3,544
52,787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 12
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 5 April 2023
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other creditors
10.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
2,500,140
-
Current assets
558,877
152
Current liabilities
(784,822)
-
Long term liabilities
(125,000)
-
2,149,195
152
11.
MOVEMENT IN FUNDS
At 6.4.22
£
Unrestricted funds
General fund
1,533,428
Restricted funds
Restricted
152
TOTAL FUNDS
1,533,580
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
872,537
TOTAL FUNDS
872,537 |
2023
£
3,681
781,141
784,822
2023
£
125,000
2023
Total
funds
£
2,500,140
559,029
(784,822)
(125,000)
2,149,347
Net
movement
in funds
£
615,767
-
615,767
Resources
expended
£
(256,770)
(256,770) |
2022
£
4,193
433,103
437,296
2022
£
125,000
2022
Total
funds
£
1,532,702
563,174
(437,296)
(125,000)
1,533,580
At
5.4.23
£
2,149,195
152
2,149,347
Movement
in funds
£
615,767
615,767 |
|
|
|
continued...
Page 13
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 5 April 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
At 6.4.21
£
1,385,912
152
1,386,064 |
Net
movement
in funds
£
147,516
-
147,516 |
At
5.4.22
£
1,533,428
152 |
|
|
|
1,533,580 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
452,057
(304,541)
147,516
452,057
(304,541)
147,516 |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
At 6.4.21
£
1,385,912
152
1,386,064 |
Net
movement
in funds
£
763,283
-
763,283 |
At
5.4.23
£
2,149,195
152 |
|
|
|
2,149,347 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
1,324,594 |
(561,311) |
763,283 |
TOTAL FUNDS |
1,324,594 |
(561,311) |
763,283 |
continued...
Page 14
SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 5 April 2023
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
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SAINT MARY & ARCHANGEL MICHAEL COPTIC
ORTHODOX CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 5 April 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Fundraising and grants
Church canteen
Membership contributions
Collection and church boxes
Investment income
Deposit account interest
Other income
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Repairs and maintenance
Social services and donations
London Diocese
Church candles and oil
Church trips and parties
Canteen and shop expenses
Freehold property
Fixtures and fittings
Computer equipment
Support costs
Governance costs
Accountancy fees
Legal fees
Office costs
Total resources expended
Net income |
2023
£
215,560
420,206
13,681
131,361
91,729
872,537
-
-
872,537
121,710
8,431
2,632
661
9,461
21,886
4,701
15,326
19,756
18,514
782
10,713
11,948
1,095
229
247,845
2,580
1,440
4,905
8,925
256,770
615,767 |
2022
£
184,443
61,000
-
112,772
89,501 |
|
|
447,716
13
4,328 |
|
|
452,057
121,668
14,300
2,632
643
8,866
5,001
17,966
19,800
46,658
47,933
764
-
11,948
1,217
270 |
|
|
299,666
2,340
1,440
1,095 |
|
|
4,875 |
|
|
304,541 |
|
|
147,516 |
This page does not form part of the statutory financial statements
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