``` 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 ``` |`2023`||`2022`| |---|---|---| |`£`||`£`| ||`-`|`13`| ## **`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: ``` ||`2023`|`2022`| |---|---|---| |`Priests`|`2`|`2`| ``` 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. ``` ``` Page 15 ``` ``` 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 ``` ``` Page 16 ```