Charity number 1139569
SAINT MARY AND ARCHANGEL hlCHAEL COPTIC ORTHODOXCHURCH
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2024

SAiTrrr MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
FOR THE YEAR ENDED 5 APRIL 2024
Contents
Page
Legal and AdministratNe Infomiation
Report of the Trustees
Independent Auditorfs Report
Statement of Financial Activities
Balance Sheet
10
Statement of cash flows
11
Notes fonniro part of the Financial Statements
12-16

Page 1
sAI￿r MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
CHARITY INFORMATION
Trustees
Mr M Neoman
Dr l Tadros
MrA Shahats
Mr N Abddsaid
MrA Seha
Dr G Yanni
Mr N Bcrttros
Custodlan Trustees
Dr G Yanni
Dr l Tadros
Mr N Boutros
Registered Charfty Number
1139569
Reglstered office
cranb￿rne Gardens
London
NW11 OHS
Audltors
TC Group
The Courtyard
Shorham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers
HSBC PIC
40 Temple Fortune Parade
London
NW11 (￿y

SAINT M4RY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 2
REPORT OF THE TRUSTEES
FOR YEAR ENDED 5 APRIL 2024
The twslees present their report along with the financial Statements of the charity for the year ended 5 April
2024. The trustees hav8 adopted the provisions of Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to Charities preparing their accounts in accordan￿ with th8 Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019).
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 furtheran￿ of this object the Trustees may provide and maintain pla￿$ of public worship, carry out
religious services, pay the priesls salaries, hold religious and other meetings in connection with the Coptic
Orthodox Church and provide assistan￿ for the needy in the United Kingdom and abroad.
Coptic Orthodox Dioceso of London
St Mary and Archangel Michael Coptic Orthodox Church is part of the Coptic Orthodox DI0￿Se of London.
ACHIEVEMENT AND PERFORMANCE
Charftable activities
The church, which is based in Golders Green, is open most days of the week for ￿lebrating the Divine
Liturgy, prayer meetings, seminaT5, 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.
Fundraising activities
During the year, the church has collected funds frorn the congregation to pay for its running expenses and to
donate to some poor familie5 in the community, also, to pay for the construction of a new church hall to
replace Ihe old hall which was becoming too old and not frt to senie the need of the congregation.
FINANCIAL REVIEW
The statement of financial actNities is set out on page 9 and shows the resutt of the year.
The charity incurred costs in furtherance of its objects of £304.728 (2023: £247,845). After taking into account
these expenses and other management and administrative expenses of £13,167 {2023.' £8,925) th6 net
incoming resources for the year were £333,787 (2023: £1,090.973).
At 5 April 2024. es shown on the balance sheet on page 10. the charity has net assets of £2,958,340 (2023..
£2,624,553), which were mainty held in fixed assets as shown on note 6 and on bank deposits and current
accounts. Th8 2023 figures stated are after taking into account prior year adjustments as detailed in note 12.
Prlncipal funding sources
The charty's main source of funding were the payments made by ils members in the form of donations
received and church collection.

SAlTrtr MARY AND ARCHANGEL MICHAEL COPTICOThODOX CHURCH
Page 3
REPORT OF THE TRUSTEES- CONTINUED
FOR YEAR ENDED 5 APRIL 2024
The charity's expenditure
The expenditure during the year YRS llicurred in:
Church actlvltles
Maintaining the church and the temporary 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 schtr)Is to teach the children
the faith of the church and to provide he￿ to the n*dy in the communty.
Constructlon of the new hall
Payments made to the building contractOTS. enginears and adviser5 as part of the construction costs of building
the new hall.
Interest paid to banks
The church incurred during the year, interest on loans obtained from the bank to pay for the construction of
the new hall.
Investment policy and objectives
The Trustees, investment powers are govemed by the Trust Deed, which pemits the Charty's funds to be
invested in properties, any cash investrnents and chattels as they see frt. The Trustees have considered the
most appropriate policy for investing the charity's funds and decided to keep it in bank accounls to have it
available for paying for the project of building a new hall, that is currently in progress.
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 yearend
was £2,958,340 (2023: £2,824,553) of which £ nil (2023: £ nil), are regarded as free reserves after allowing for
funds ti8d up in tangible fixed assets.
Future plans
The charity has demolished the old church hall building and are currently in the process of replacing rt with a
four-story building. including a basemenl at an estimated cost of £3.2 million.
The new building will be used by Ihe church for ts actNities and by the community as a nursery.
The chanty reached an agreement with Charty Bank for funding the project.
The project is progressing well with an expected completion of Q2 2025 and the total estimated cost will be
about £3.2 million.

SAINT MARY ANDARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Pag8 4
REPORT OF THE TRUSTEES. CONTINUED
FOR YEAR ENDED 5 APRIL 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
The charity was fomed on 18 November 2010 as an unincorporated trust. registered with the Charity
Commission, registration number 1139569 on 30 Decernber 2010 and is govemed by the Charities Act 2011
and its TNst deed dated 18 November 2010.
Management of th8 Charity
The charity is managed by the Church Council consisting of The Diocesan Bishop, the Priest5 of the Church,
and nct less than fwe Council Members, who are appointed time to time by The Diocesan Bishop.
Only the Trustees are voting members of the Council.
Recruitment and appointment of new Trustees and counc51 Members
The Church Trustees
The Trustees and other council membets of the Charty are appointed by the Diccesan Bishop.
Names of the charity trustees
The Trustees who served during the year were as stated belcw.
Mr M Neoman
Dr l Tadros
MrA Shahata
Mr N Abdelsaid
MrA Seha
Dr G Yanni
Mr N Boutros
Names of the members of the Church Council. who are nottrustses
Miss Sarah Henein
Mr Hani Salih
Mr Hani Bu5hra
Mr Kyrillos Abadir
Mr Makaricus Girgis
Mr Magid Mansour
Organisational structure
Saint Mary 2nd 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 spirtiual authority to
function from the Hoty Council of the Coptic Orthodox Patriarchate in Cairo, Egypt. such authority cannot be
changed, aftered. modified or revoked.
The Coptic Orlhodox Archbishop of LorKJon 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.

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
REPORT OF THE TRUSTEES - CONTINUEO
FOR YEAR ENDED 5 APRIL 2024
Pagg 5
DÈ¢ision making
The tmstees of St Mary arKI Archangel Michael Coptic Orthodox Church. in consultation with the Coptic
Orthodox Bishop of London. the priests of Ihe church and other members of the council, take deusions on all
matters conceming Éhe administrab'on of the charity. Deustons on the church spiritual services to the
corwJregalion. are taken by the Coptic Orthodox Arthbishop of Lottrjon and the priests.
Induction and training of new tntstéés
The Iruslees a￿ members of the church and as suth are familiar with the practical work ofthe tharity.
New trustees are given trair￿￿ by existing trustées on:
-The Church Constitution,
-The current finan(3al posrtion as set wt in the published accounts,
-Fulure plans and objèctives.
Statement of trustees, responslbllitles in relation to flnanclal statements
The Iruslees are responsible for prèparing a truslees. annua report and financial stAlements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A￿pted
A0￿unting Practice). The law applicable to charkties in England arKI Wales requires the trustees to prepare
financial statements fof each financial year which give a true and fair wew of the charrty'8 financtal activitie8
during the year and of its financtal posibon at the end of the year_ In preparing financial ststements givÉng a
true and lair view. the Iruslees should folknv best prnctice and..
select suitable accounting politAes and then apply them consistenly"
obseNe the methods and prinaples in the applicable Charities SORP;
make ludgements and estimates that are rèasonable and prudent
stale whether applicable accounting standards and stalements of recommended practFce have been
followed. subjecl lo any depariures disclosed and explained in the finanaal stalements., and
prepa￿ the financial statements on the gThng Concem basis unless li is inaptyopriate to presume that
the charity will continue in operation.
Risk management
The main risks which may f￿ thè charity is the reduction in donations from the Congregation.
The chÈrily relies on donations fA)m a 5arye number of donors, not a few individuals. which redu￿ the risk of
huge fluctuations in the income from donations.
Approved by the Board of Twstees and signed on bthaEf of the b)ard cn....15. .
Ge¢rgF*Yaffti fi<5è4¥f•e4r
Trustee

SAIKf MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOXCHURCH
Page 6
INDEPENDENT AUDITOR'S REPORT
TO THETRUSTEES OF SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Opinlon
We have audited the financial statements of St Mary and Archangel Michael copt￿ Orthodox Church (the
'charity'l for the year ended 5 April 2024 which comprise Statement of Financial Activities. the Balance Sheet,
the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and
Uniled Kingdom Accounting Standards, including FRS 102 °The Financial Reporting Standard applicable in
the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice}.
In our opinion the financial statements:
gwe a true and fair view of the state of the charity's affairs as al 5 April 2024 and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance wilh the requirements of the Charrties Act 2011.
Basis for opinion
We have been appointed as auditors under S￿l0n 144 of the Charities Act 2011 ar)d report in accordanc8
with regulatsons made under section 154 of that Act.
We conducled our audit in accordance with IntematK)nal Standards on Auditing {UK> (ISAS (UK)) and
applicable law. Our responsibilrties under those standards are further described in the Auditor's
responsibilities for the audtt of the financial statements section of our report. We are independent of the Charity
in accordance with the ethical requirements that are relevant to our 8udÉi of the financial statements in the UK,
including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believ8 that the audrt evidence we hw¥E obtained is sufficient and appropriate to
provide a basis for our opinion.
(Xher Matter
The comparative financial statements have not been audited.
Concluslons relatlng to going Goncern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to
report to you where:
the trustees, use of the going COn￿M basis of accounting in the preparation of the financial statements
is not appropriate- or
the trustees have not disclosed in the financial statements any identiFied material Un￿rtaInt(eS that may
cast significant doubt about the charrty's abilty to continue to adopt the going concem basis of
accounting for a pericrfj of at least twelve months from the date when the financial statements are
aulhorised for issue.
Other information
The trustees are responsible fy the other information. The other information comprises the information
included in the Annual Report other than the financial statements and our auditorfs repori thereon. Our opinion
on the financial statements does not cover the other infonnation and. we do not express any form of
assuran￿ conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other information and.
in éoing so, consider whether the other infomation is materialty inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such
material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a
material misstatement in the financial statements or a material misstatement of Ihe other infomiation.

SAlTrtr MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 7
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF SAINT MARY ANDARCHANGEL MICHAELCOPTIC ORTHODOX CHURCH
If, based on the work we have perfonned, we conclude that there is a material misstatement of this other
infomation, we are required to report that fact. We have nothing to report in this regard.
Matters on whlch we are required to report by exceptio
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to
report to you if. in our opinion=
the infonnation given in the financial statements is inconsistent in any malerial respect with the
Trustees, Report. or
sufficient accounting records have not been kept" or
the financial statements are not in agreement with the accounting records and returns,. or
We hav8 not received all the information arKI explanations we require for our audit.
Responsibilities of trustees
As explained more fvlly in the Statement of Trustees, responsibilities set out on page 6. the truste88 are
responsible for the preparation of the financial statements arKI for being 5ali5fied that they give a true and fair
view, and for such internal control as the trustees detemiine is necessary to enable the preparation of financial
statements that are free from material misslat&ment. whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable. matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charty or to cease operations, or
have no realistic altemative but to do so.
Auditorf5 responsibilities for the audit of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error. and fo issue an audtiorfs report thal includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wrth ISAS (UK) will always detect a material misstatement when it exisls. Misstatements can arise
from fraud or error and are considered malerial ff, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial slatements is provided on the Financial
Reporting Council's website at http.'/fvhvw.frc.org.uklauditorsresponsibilities. This description fomis part of our
auditorfs report,
Extent to which th8 audit was considered capable of detectlng irregularities, including fraud
The objectives of our audit. in respect to fraud, are: to hlentfy and assess the risks of material missiatement of
the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed
risks of material misstatement due to fraud. through designing and implementing appropriate responses,. and
to respond appropriately to fraud or suspected fraud identified during the audit, However, the primary
responsibilty for the prevention and detection of fraud rests with both those charged with governance of the
group and its management.
Our approach was as follows:
We identified areas of laws and regulatron5 that coukl reasonably be expected to have a material
effect on Ihe financial statements from our general sector experience, and through discussion wth the
trustees and other management (as required by audiiing standards), and discussed with the trustees
and other management the Frf)licies and prO￿dureS regarding compliance with laws and regulations
{see below)"

SAIKf MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 8
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
We identified the following areas as those most likely to hav8 such an effect.. health and saf8ty',
General Data Protection Regulation (GDPR)" fraud", bribery and corruption," and employment 18W.
Auditing standards limit the required audrt procedures to identify non4omplkqnce with these Saws and
regulations to enquiry of the trustees and other management and inspection of regLJlatory and legal
correspondence, if any.
We considered the legal and regulatory frameworks directly applicable to the financial statements
reporting framework (FRS 102 and the Charities Act 2011) and the relevant tax compliance
regulations in the UK-
We considered the nature of the group's operations. the control environment and financial
p6rfoMian￿.
We communicated identified laws and regulations throughout our team and remained alert to any
indications of non-complian￿ throughout the audit",
We ccnsidered the procedures and controls that the group has established lo address risks identrfied,
or that otheNise prevent, deter and detect fraud,. and how senior management monitor5 those
procedures and controls.
Based on this understanding we designed our audit procedures to identfy non-compliance with such laws and
regulations. Where the risk was considered lo be higher. we perfomied audit procedures to address each
identified fraud risk. These procedures induded: testing manual joumals,. reviewing the financial statement
disclosures and testing to supporting documentation. perfoming analytical procedures., and enquiring of
management. and were designed to provide reasonable assurance that the financial statements were free
from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk thal we may not have detected some
material misstatements in the financial statements. even though we have properly planned and perfonned our
audit in accordan￿ wilh auditing standards. For example. the further removed non-compliance with laws and
regulations {l￿egularitIes) is from the events and transactions reflected in the financial statements, the less
likely the inherenlly limited procedures required by audrting standards would identify il. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud involves intentional ¢onGealment,
forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charity's trustees as a body, in accordance with the Charities Act 2011. Our
audit work has been undertaken so that we might stste to the charity's trustees those matters we are required
lo state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. do
not accept or assume responsibilty to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this report. orfor the opinions we have fomed.
Mark Cummins FCCA (Senior Statutory Auditor)
for and on behalf of TC Group
statutory Auditors
Office" St8ynings West Sussex
Date:
16 SWe￿f tozs

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 9
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
Total
2023
Note
INCOME AND ENDOWMENTS
FROM
Donations and legacies
651.682
651.682
1,347,743
Total incomlng resources
651.682
651,682
1,347.743
Expendlture
Charitable acbvittes
317,895
317,895
256,770
Net income
333,787
333,787
1,090,973
Total funds brought forward
10
2,624,401
152
2,624.553
1,533,580
Total funds carried for•vard
5 April 2024
10
2.958,188
152
2,958,340
2.824,553
S* note 12 in reEation to a prty)r year adjustrnent.

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 10
BAiANCE SHEET AT 5 APRIL 2024
AS rtslated
Total
2023
Total
2024
Fixed assets
Tangibie assets
3,401.595
Current assets
Debtors
Cash at bank and in hand
2.500,140
30.0
474.281
36.539
522,490
Totsl ¢xrrent assets
504,281
Creditors.. kn?unl$ faiing due Imthin one year
Net current assets l (liabiljfies)
559,029
(535,554)
1434.616)
(31.273)
124,413
Tol21 assets less currerrt liabllity
Creditors". ArTh)unts faling due after more than
one year
3.370,3
2.624.553
{411,982)
Total net assets
2.958.340
2.624,553
Funds ofthe Charity
Unrestricted funds
Restrict41 funds
10
10
2.958,188
152
2.624,401
152
Totsl funds
2.958,340
2.624.553
and signed on tehalf of the board by
Truste
The notes on pages 12 to 16 fom part of these financial statements. See note 12 in relation lo a prior year
adjustment.

SAINT MARY AND ARCHANGEL MICHAEL COPTICORTHODOX CHURCH
Page 11
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 5 APRIL 2024
As restated
2023
2024
Cash flows from operating activiti
Cash generaled from operations
11
369.415
1,120,613
Net cash provided by operating activities
369.415
1,120,613
Cash flows from Investing activities
Purchase of tsngible fixed assets
(921,606)
(980,710)
Net cash used in investing activttie5
(921,606)
(980,710)
Cash flows from financing actlvltles
New bank loan
411.9&2
vement in other loans
718
92.000
(127,800)
Net cash used in financing ￿tiVitIes
503,982
(127,800)
Change in cash in the year
(48,209)
12.103
Cash at 6 April 2023
522.490
510,387
Cash at 5April 2024
474 281
Analysls of net debt
0610412023 Cash flow
522,490
(48,209)
0510412024
474.281
Cash
Debt
Debls falling due within 1 year
Debts falling due after 1 year
(482,000)
(92,000)
411,982
503,982
(574,000)
411,982
985.982
482,000
Total nel debt
40,490
511,701

SAINT MARY AND ARCHANGEL MICHAEL COPTIC OThODOX CHURCH
Page12
NOTES TO THE FINANCIAL sTATEmE￿s
FOR THE YEAR ENDED 5 APRIL 2024
Accounting pollcles
1.1 Basis of accountlng
The financial statement5 of the chanty, which is a public benefrt entity under FRS 102, have been
prepared in accordance with the Charrties SORP {FRS 102) 'Accounting and Reporting by Charities:
Statement of Recommended Practi￿ 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 2019)., 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 Golng concern
The trustees consider that there are no ￿raterIal uncertainties about the charity's abilty to continue as
a going concem.
1.3 Income
All income is recognised in the Statement of FInar￿la1 Activtties once the charty has entitlement to the
funds, it is probable that Ihe incom8 will be received and the amount can be measured reliably
1.4 Expenditure
Liabilities are recogntsed as expenditure as soon as there is a legal or constructive obligation
ommrtting the chartty to that expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditur8 IS
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistent with the use of the resour￿.
1.5 Tangible fixed assets
Depreciation is provided at the following annual rates in order lo write off each asset over its
estimated useful lrfe:
Freehold buildings
Building under construction
Fi*ures and fittings
Computer equipment
2% straight line
not provided
100fi reducing balan￿ for church
150/0 reducing balance
1.6 Debtors
The charity has debtors which are measured at settlement amounts less any trade discounts.
1.7 Creditors
The charity has credttors which are measured at settlement amounts less and trade discounts.
1.8 TaXa￿On
The charty is exempt from tsx on ts chariiable actThiitES.
1.9 Fund accountlng
Unrestricted funds can be used in accordan￿ with the charitable objectiV88 at the discretDn the trustees.
Restricted fvnds can onty be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funrjs are raised for particular restricted purp)ses.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
ststements.

SAINT MARY ANDARCHANGEL MICHAEL COPTIC ORTHOIX)X CHURCH
Pag8 13
NOTES FORMING PART OF THE FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
1. Accounting policies (Continued)
1.10 Pension costs and other post-retirernent benefits
Th8 charity operales a defined conlribution pension scheme. Contributions payable to the charity's
pension scheme are Charged to the Statement of Financial Activiknes in the period to which they relate.
1.11 Critical accounting judgement and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparerrt from other sources. The estimates and underlying assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the pertod in which the estimate is revised rf the revision
affects On￿ that period or in the period of the revision and future periods if the revision affects both
current and future periods.
TRUSTEES REMUNERATION AND 8ENEFrrs
There were no trustees. remuneration or other benefit5 for the year ended 5 April 2024 nor for Ihe
year ended 5 April 2023.
Trustees, 8xpenses
Th8re were no trustees, expenses paid for the year ended 5 April 2024 nor for the year 8nded 5 April
2023.
Trustee donations
During the year 4 trustees donated a tota] of £11.750 to the charity. {2023: 3 trustees donated a total
of £9,250)
STAFF COSTS
2023
Salaries and wages
Social swjrity costs
Other pension costs
124,341
11,￿5
2.851
121,710
8.431
2,632
Totsl staff costs
139,157
132.773
The average monthly number of employees during the year was as follows:
2024
2023
Priests
The number of employees whose employee benefits (excluding pension costs) exceeded £60,000 was".
2024
2023
£60,001- £70,(K)O

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
Page 14
NOTES FORMING PART OF THE FINANCIAL STATEmE￿s- CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
Tanglble flxed assets
Land and
Office
Buildings Equlpment
Freehold
Flxtures,
Buildlng
Fittings &
Under
Equipment Construction
Total
Cost
At 6 April 2023
Additions
747.855
12,748
239,840
7.225
1.943.491 2,943,934
914,381
921,606
At 5 April 2024
747,855
12.748
247.065
2,857.872 3,865,540
Depreciailon
Basis
Straight line
Reducing Straight line
balance
15%
11,449
195
No
Depreciation
Rate
At 6 April 2023
Charge for the year
2%
265,363
11,948
166,982
8.008
443,794
20,151
At 5 April 2024
277.311
11.644
174,990
463,945
Net book value
At 5 April 2024
470.544
1,104
72,075
2,857,872 3,401.595
At 5 April 2023
482,492
1.299
72.858
1,943,491 2,500,140
Substantially all assets are held for chariiable purposes.
Debtors
2024
2023
Other debtors
30.000
36,539
30,000
36,539
Cash at bank and in hand
2024
2023
Cash at bank
474.281
522,490

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHOt)OX CHURCH
Page 15
NOTES FORMING PART OF THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
7. Credltors amounts falling due wlthln one year
As restated
2023
2024
Other loans
Accruals and deferred income
Taxes and social securty
Othar creditors
519,000
11,400
3,891
1,263
427,000
2,460
3,681
1.475
535,554
434,616
other loans are loans receNÉd by the church from members of the congregation.
8. Creditors amounts falllng due for more than one year
As restated
2023
2024
Bank loans
411,982
411.982
The temi of the bank loan is 25 years form tha date of first utilisalion. The interest rate applicable to the loan
is 2.98°h pa above the BOE base rate for Iha first 24 month5, Ihen 2.680/0 pa above the BOE base rate for the
remainder of the temi The bank loan is repayable by monthly installments of interest only for the first 24
months after the first utilisation followed by monthty instalments of Capital and interest for the remainder of Ihe
t8mi. A fixed charge is held against the Church building as security for the loan.
9. Analysis of net assets between funds
As restated
2023
Total
funds
Unrestricted
fund
Restricted
fund
2024
Total
funds
Fixed a&sets
Current assets
Current liabilities
Long term liabilities
3.401,595
504,129
(535,554)
(411,982)
3,401,595
504,281
{535,554)
(411,982)
2.500.140
559,029
(434,616)
152
2,958,188
152
2,958.340
2.624,401
10. Movement in funds
As restated
At
6A.23
Net
movement
in funds
At
5.4.24
Unrestricted funds
Restricted funds
2,624,401
152
333,787
2,958.188
152
Total funds
2.624,553
333.787
2,958,340
Restricted funds relate to mmies raised towards Project Ark.

SAI￿ MARY AND ARCHANGEL MICHAEL COPTIC oKfHODOX CHURCH
Page 16
NOTES FORMING PART OF THE FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
11. Reconciliation of net income to net cash flow from operatlng actlvities
As reststed
2023
2024
Net Income
{as per statement of financial activities)
333,787
1,090,973
Adjustments for:
Depreciation charges
Decr8ase in debtor5
{Decrease) I Increase in creditors
20,151
6,539
8,938
13,272
16,248
120
Net cash provlded by operating actlvltles
369,415
1.120,613
12. Prior year adjustment
A prior year adjustment has ken made to release deferred irKome totaling £420,206, as this ino)m8 should have been
recognised in the year ended 5 April 2023. The charity received a donation in the year ended 5 April 2023 of £840,412, of
which 50Yo was recognized as income and deferred at the year end. The tot21 amount met the income recognition
riteria of entitlement, measurement and probable. and therefore thè full amount shoukl have been recognized.
A prior year adjuslment has been made to reanalys8 £55.(M)O of other loans which should have been recognised as grant
and donab'on income.
A prior year adjus1ment has also been made to reallocate k*ng lenn other loans of £125,000 to cu￿ent liabilitias. This is
due to the fact that the repayment date on the loans tralls prior to 5 Aprtl 2023.
The above adjuslments have resurted in an increase in income for the year ended 5 April 2023 f￿rn £872,537 to
£1,347,743.
Creditors du6 in less than one year have decreased from £784.822 to £434,616, net current assets have increased from
{£225.793) to £124.413 and tot21 net assets have increased from £2.149.347 to £2,624,553 as at 5 April 2023.
Creditors due in more than one year have deueased fTom £125.000 to £nil as at 5 Apnl 2023.
Unrestricted reserves have increased from £2,149, 195 to 2.624.401 and total reserves have increased from £2,149,347 to
2.624,553 as at 5 April 2023. £50,000 of the gtant income reallocated from other loans in 2023 was restricted towards
Projed ATk. this was subwuently fuuy spent in yéar ended 5 ￿nI 2023 therefore there has been no impact on tolal
restricted fvnds.

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH
The following pag88 are for the infonnation of the trustees only and do not form part of the ststutory
financial statements.

SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHOI)OX CHURCH
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
2024
2024
2023
2023
INCOMING RESOURCES
Donations
Special donations and grants
Church canteen and bookshop
Collection and Church Boxes
Membership contribution
309,029
220,560
890,412
13,681
91,729
131,361
17,460
91,156
234,037
651,682
1.347,743
RESOURCES EXPENDED
Exp8nditur8
Charitsble activities
Salaries
Sc¢ial security costs
Pension
Rates and water
Light and heat
Insurance
124,341
11,965
2,851
1,029
3,400
8,232
121,710
8,431
2,632
661
21,886
9.461
kll
Repairs. maintenance and decoration
Deprecialion
Social s8rvices
Church candles and oil
Sunday School
Church canteen and bookshop
London Diocese
1.767
20.151
9.600
34.567
9,256
16,365
61.204
4,701
13,272
15,326
13,229
6.(￿7
10.713
19.756
304,728
247,845
Support costs
Govemance costs:
Accountancy f*s
Legal & professional
Office costs
11,400
240
1.527
2,580
1.440
4.905
13,167
8,925
Totsl resources expended
317.895
256.770
Net income
333.787
1,090,973