REGISTERED CHARITY FIUMBER: IIJ9569 Report of tbt Trusttts *nd for the Period O April 2024 t• 30 September 2025 ror SAIiYf MARY AND ARCHANGEL MICHAEL COFnC ORTHODOX CHURCH Guside and Co. Limited Chartered Accourrtants & Stswtory Auditor Suite 631. Linen Ha]1 162-168 Regeni Sireet IA)nth)ll WIB 5TG
SAIIYT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Contents ofthe Financial StAtemeuts ror th¢ Period 6 April 2024 to 30 Septt)uber 21125 P¥ge Rert of the Trustees Report ofthe Ittdepend¢nt Auditors Ststeme))t of FlnAncial Aetllryties io ststeanent of Financixl Position li ststemettt ofca5b Fl•ws 12 Notes to the S¢*temtnt Of Cash Flows 13 Ntstes to the Fittxncial S¢•letythts 14 to 20 Detsiled Statement of Finanri¥l Activiti 21 22
SAINT MARY AND ARCHANGEL MICHAEL corric ORTHODOX CHURCH Report of the Trustees for the Period 6 April 2024 th 30 &ptembtr 21125 Th¢ trlee5 present their TeW>rt wtth the fmancial 518tements of the charity for the period 6 April 2024 to 30 September 2025. The twstees h&ve adopted the PIOYLsion5 of Accounting and R¢porting by Charities.. Statement of Recommended Practice applicable charities preparing their accounts in accordance with the Finantial Rq)orting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). owKcrivES AND AcfivITIES Objvtives airns The object of the charity is to promotc th¢ Coptic Ordb)dox Chur¢h in the Uoiied Kingdom and th¢ Republic of Ireland. In furtherance of thLS object the Tru5te¢s may provid¢ 8t maintsill plac¢5 of public worship. cany out religious service4 pay the priests $a]arie5. hold religious a]]d other meetings in conlledion with thc Coptic Orthodox Church 8nd provid¢ &$$ianCe for the needy in the United Kingdom and abnHI. St Mary and Archangel Michael Coptic Orthodox ChUh i5 part of the Comic OrtlKNlox Th¢)(xs¢ ofLondon. Publ1¢ beneflt The tntstees confjrn that they havc had Teg8rd to the Chwity Commissionl guidance on public b¢rt when pl&nning the charity's 1VItieS. ACHIEVEMENTS AND PERFORMANCE Chritble activitie5 Thc church, whith is based in Golders Green. is open most days of the week for celebrntirtg the DIne Liwrgy, prayer m¢etirtg4 seminar& gmup discussions. Bible swdies, Coptic language lessons. Copti¢ hyrnns lessons and other church activities. During th¢ year, the youths oFth¢ ¢hurch attended •)d organised confeTen¢e4 retreats and Mps in the UK and abroad. The church has sports a¢tiviti¢s and h&% rtball and basketball tegms whith play and compele against teams of othercoptic churches in the UK. Fundraising activities During tbe year, the Church I collected funds from the con8r¢88tion pay for its running expenses and to done to some r families in the cotnmunity, also, to pay for the construclwn of a new thurch hall lo rq>lace the old hail which was becoming too old and not fit to setve the need of th¢ LY>ngrewion. The eh#rlty's expeDditure The major expenditure during the year Church artLVi Mairttaifting the chur¢h and th¢ tempow hall. mBking them available to the public to use for worship and social activities. the payment of the priest's sa]aries and ¢xNses. the provision of Sunday schools to teach th¢ childn th¢ faith of the church and tt> provid¢ help to the needy in the eommutlity. Construction of the Paym¢nts ]nade to the building contractors. ¢ngin¢¢rs and Jvisers as part of the ¢on5tructiOn costs of buildin8 the new hall. As permitt by FRS 102, the conslruction costs irKlude witali5¢d int¢rest dirtttly attrk&utable to the construction of the development. Interest The church incurred dur%ng the year. interest on loans obtaincd from the bank to pay ft)r the constru¢tion of the new ha]l. In accordance with th¢ provisions of FRS102 the ¢hariry ¢lectrd to capitali5e this in*rest as port of the costs of the assd. Page I
SAIIYT MARY AIYD ARCHANGEL MICHAEL COFllC ORTHODOX CHURCH Report of the Tru$tees for ¢ht Period 6 April 2(124 to 30 SEPternb¢r202S FIP4Af4ciAL REVIEW FIancIal position The statement of financial a¢iivitie5 is set out on page 9 and slWS the result of the ycar. The charity incurred costs in rtherartCC of its ObJts of £431.847 12024.. £317,895). After iaking inlo account these expen5cs aTtd other m8na£¢m¢nt and thinistrfive expthses of £1 1.4(KJ (2024.. £11.400) the net tneoming resources ft>r the year were £471.479 (2024.. £333.787). At 30 Sq)tember 2025, a5 sIK)wn on the balance sheet on page 10 th¢ charrty ha5 net &ssets of £3,429.819 (2024 £2.958.340}, whi¢h were maittly held in fKxed asxts as shown on note 9 and on b#uk d¢wwts and curreni aeeounts. PrineipAI fuThding sourees The charity's mai]] source of funding were the payments mad¢ by its members in the forn) of do]Wions received and ¢hurch ¢ollection. Investment policy objecltves The TnJsie¢s' inYe5llneni powers are govcrned by the Trust Deed, which permits the Charrty's funds to be invested in proptrties, any cash invtstments and chattels 8$ they see fit. The Trustees have considered the most appropriate poliry for investing the eharity'$ fibnds and decided to keep it in bank accounts to have it avatjable for paying for the Project of buildin8 a new hall, is ¢UTrently ity pro8ress. Restrves poliey The Trust¢C5 aim io keep in reserves at any ]x)int of time three months of exp¢nditure to COV¢T unplanned ern¢rgency repaiis to the church building and other expenses. The of reseNes held at the riod end w&5 £3,429.819 12024: £2,958,340). FUTURE PLANS The charity has demolishrd the old ¢hurch ball buildiD8 and are cutrent]y in the of rep]ing it with a foyr-story buildin& including a basem¢EU at an emrmated costof £3.2 million. The new building will be by the church for its activfftties and by the community as a nursery. The charity reached a agreement with Charity Bank for fimding the proje¢t. Th¢ proje¢t is progressing well with an expthl completion of Q2 2025 41 the total estimated cost will b¢ aboui £3 millton. STRUCTURE. GOVERNANCE AND AGEMENr Governlmg docutNeNt The charity w&s formed on 18 Novtmb¢r 2010 as an unin¢ortKTrAted trusL registered with the Charity Commission. re8iStration numb¢r 1139569 oll 30 DeG¢mber 2010 and is governed by the Charities Ad 2011 and its Trust d¢ed dated 18 November 2010. Management ofthe ChAriry The chaTity is ma1]ag by the Church Council consisting of The Diocesat) Bishop, th¢ Priests of the Church. and not less than five Council MeJnbers, who are aptKJintcd Irom lin to lime by The Diocesan Bishop. Only the TnceS ar¢ votitk8 memb$ of the Council. Page 2
SAIf4T MARY AND ARCHANGEL MICHAEL coync ORTHODOX CHURCH Report of the Trustees for tht Period 6 April 2024 to 30 September 2025 STRUCTUR[ GOVERf4ANCE AND MANAGEME]Yf Recruitment ¥ppointment of llElV tTUStees The Tntstees and other council members of the Charity are aptKJinted by thc Diocesan Bisknp. The Trustees who serv¢d throughout the YearWe as stated below: Mr M N¢oman Dr I Tadn)s Mr A Shahats Mr N Abd¢lsard Mr A Seha Dr G Yanni Mr N Boutros Names of the m¢mbers of the Church Council, are Dot trus¢¢es: Miss Sarah Henein Mr Hani Salih Mr H3ni Bushra Mr Kyrillos Abadir Mr Makarious Gir8as Mr Magid Manso OrgAniiatlonal Structure Spint Mary artd Archangel Michael Cowic Orthodox Church is an indivisible part of the Coptic Orthodox Church in Egypt which has &8 its Supreme Head, the Pope of Al¢xandria and derive5 its spiriiutl authority to fi]nction from the Holy Q>uncil of the Coptic Orthodox Patriarchate in Cairo. E&vpt. su¢h authority cannot Ix chang&l, al*Te4 modified or revok¢d. The Coptic Orthodox Archbishop of London is apwjinied by th¢ Holy Synod of the Coptic Orthodox Church by written decree over the are4 known a5 th¢ Di(xe5e of Lonthtrn, whi¢h includes this charity. Deelslon making The trllSi¢¢s of St Mary and Archangel MIe1 Coptie OrtlM)dox Church. in consultation with the Copti¢ Orthoth>x Bishop of London. the priests of the church and other tnembets of the couneil. thke decisions on all rnattcrs concerning the adtTJinistration of the Charity. De¢ision5 on the thurch spirituat services to the wngtegation. are tsken by the Copti¢ Orthodox Archbithop of London #nd ihe priest& Inducttoll gnd tr4iMiNg of new trnstees The trustees ar¢ metllbers of the church 8]NJ 45 Such are familiar with the pradi¢al work of the charity. N¢w ITUStees ar¢ 8iv¢n trainin8 by exisiing twstees on.. - The Church Constituti¢M4 -The current r]llanci position as set out in the published xcount Future plans and objective& Risk man#gemeot The trllst¢¢s have x duty to td¢ntify and VIeW the risks tt) which the charity is exw1s and to ensure appropriate control$ are it) place to prt)vide reasonable assurance against fraud and ¢Tror. The main risks whi¢h may the charity is the r¢durtAon in (k)Dations from th¢ congr¢gatith. Th¢ ¢harity relies on donations ftom a large number of don¢)r& not a few iNlividual& which jU¢¢S the risk of huge fluctuauons in the income from donation5. Page 3
SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Rtport of the Trustees for the Perlod 6 April 2024 to 30 September 21125 REFERENCE AND ADMINISTRATIVE DETAILS Registered Cb8rity number 1139569 Princi1 &ddre$5 Crdnlx)urne Gardejjs London Londo NWII OHS Trustees M Ncgman Dr l Tadros A Shahata N Abdels8id A Seha Dr G Yanni N Boutros Audltors Garside and Co. Limited Chartered A¢¢ountants & Statutory AudIr Suite 631. Linen Hail 162-108 Regent Street London WIB5TG CUSTODIAN TRUSfE Th¢ charity's freehold property is legally Wesd in eust(Mlian trumees who ]KJld the title on behalf of th¢ tharity. The charity trustees retain fiall SponsIbl11ty forthe maDag¢ment and control of th¢ property. EVENTS SINCE THE EiYD OF THE PERtOD Information relating to events since the end of the peTiod is given in the notes to the financial statem¢nts. STATEMENT OF TRUSTEES, RESPONSIBILtflES The tnistees are re$portsible for preparing the Report of thc TrusLe¢s atKI the financial sthtements in accordance wilh appli¢able18w and United Kingdom Ac¢ounting Standards (Unitcd Kingdorn GenerlY Accepted Acwunting Practice). Charity law requir¢5 the tnlee$ to prepE finwi8J statements for each financial year. Llnder that law. the trustees have ele¢trd to prepar¢ the financtai statements a¢¢ordance with United Kin8&m Generally A¢pIed Accounting Pwtice (Utlited Kingdotn Accounting StandaTds and applicable law). UTLder charity law the tsvst¢¢s rnust not apprDve the financial statements unless they sre ]sfIed that th¢y give a true and fair view of the srat¢ of affairs of the chan.ty and of the incoming resources atld application of resources. including the income and expenditure. of the charity for that pttiod. In preparing 11mt fin2n¢iat statements. the trustses are required to select suitable accounting p)licies and then apply them con5t5tently- observe the rneth(Mls and prtnciples in the Chwiiies SORP. make judgements and estitnai¢s that are reasonable and prtht stai¢ whether applicable ac¢ounting stsndard5 have t¢en followed. subject to any material departures disclosed anit explained in th¢ financial slaiements. prepare the financial ststements on the gotng u)ncern blsis unless it is illappropriat¢ k) presume that the Chlty will ¢ontinue in bwin¢5&
SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Report of thÈ Trustees for the Period 6 April 21124 to 30 Sewember 2fy25 STATEMENT OF TRusfEES' RESPOI¥SIBILITILS- c(IDtinucd The trLiSt¢es are r¢5pon5ible for keeping proper accounting rerdS thich disc105e with rEag)nable accurncy at any time th¢ finanG1 position of the ¢haTity and to enable th¢m to ensure that the f2Cial statem¢tts comply wilh the Charities Ad 201 l and The Charity {Accow)ts and R¢p)rts) Re8ulatioDs 21)08. They are also responsible for 5afrguarding the assets of the thlty and henc¢ for tsking reaqonable steps for the prevention and detection of fraud and oth¢r trregularities. 31st July 2026 Approved by order ofthe of trust on. .. and siwKd on b¢haif ty. Trustee Dr George Yanni) Page 5
Report ofthe IndependeDt Auditors to the Trustees of SAINT MARY AND ARCHANGEL MICHAEL COPTtc ORTHODOX CHURCH Oplnlon W¢ have audited the fllwiciai statements of SAINT MARY AND ARCHANGEL MECFIAEL COPTIC ORTHODOX CHURCH {the'charity) for the period eThJed 30 September 2025 which comprisc the Statctnent of Finallcial Activities, the Statement of Financkal Position, the Statement of Cash Flows and notes to the financial ststem¢nts, In¢ludin8 a summary of signifJ¢ant accounting wlLCtes. The knaThciat retx)rttn8 frarnewrk that has bcen applia in their pr¢p8ration is applicable law and United Kingdom Actounting Standards (United Kingdom Generdlly Accepted A¢118 Practice). In our opinion the fInala] staternents: give a tn]e and fair view of the slat¢ of th¢ charity's affairs as at 30 September 2025 aJO of its in¢oming r¢sour¢¢s artd application of resources. for the period then ended. have been properly prepar&1 in accordanee wtth United Kingdom G¢neratly Accepted Accounting Practice" and have been prepared in accord8nee wth the requiretnents of the Charities Act 2011. B9si$ for opinion We conducted our audit in accordance with International Ststthrds on Auditing (UK) (ISAS (UK}) and applicable law. Our responsibilities under those standards arc fi]rther des¢ribed in the Auditors, responsibilities for the audir of the financi stat¢m¢nts S¢¢iion of our rerA)rt. W¢ ar¢ indq)¢ndent of the charity in w>rdance with the ethical requirements ihat are relevant to our audit of the f]n4ncial 5tstem¢nts in the UK, tncludin8 the FRC$ Ethical Standard, a[ we have fulfillcd our oth¢r ethical responstbilities in accordanee with these rtquirtjnents. We believe the audit evidence we have obt8tned is suffJ¢ient and appropriate to provide a basis forouropinioti. Con¢lu$ion5 relating to golng CODcern In auditing the fan¢1 state¥nenty we hav¢ concluded that the In use of the going conrxrn basis of accounting in the preparation of th¢ financial statements is appropriate. Bwd on the work we have p¢rfonll we hav¢ not identifioj any mste¥iJl uncenainties lating ty events or conditions thai. individwdlly or collectively, may cast 5ignificaJ)t doubt on the ¢harity's ability to continue as a going concern for a period of at least (welve month5 from when thr financial StateMts ar¢ authorisd for Rs5U¢. Our responsibilities aThJ the r¢5ponsibiliti<% of th¢ trceS with wet to going con¢xm are describ1 in the relevant sections of this report. Other ithformation The trllstees are responsible for the other inforniation. The other infomiation c(HDprises the infonnation included in the Annua] Report, other than the financiaI staiemert8 and our Report of the Indedent Auditors therwn. Our opinion on th¢ finan¢ia] 5tat¢ments does not Gover the other infOrntion an ex¢ept to the exmi otherwise explicitly ststed in our TeporL we do not express any forni of ]rantt conclusiort thuwn. In connection with ollr audit of the fittancial stsiem¢nts. our responsibility is to rtJ the othw tnformation and, iti doing 50. ¢Oll5id¢r whether the other inf0mtion is materially iTKonsistent with the fiTwicial statents or our knowledge obiaitsed in the audit or otherwise appears to bc materially miss¢ad. If we ideniify such material in¢onsistencie5 or apparent material misstatements. we are requir¢d to deterniin¢ Wheth this gives rise to a Mrial misstatw¢nt in the financial ststcments themselves. If, based on the work we have p¢rformed, we eon¢lude that there is a ]natrrial missta(etnent of this other inforniation. we #re rryuired to retort th faLt W¢ have nothing ty report iti this regar M*tteTS whlch we reqllired to reptyrt by exceptio We have nothing to report itt respxl of the following matters wh¢r¢ the Charitie5 {Ac¢ounts and Retorts) Regulations 2008 requir¢s us to reTX)rt tt> you if. in our opinion: the Infom)r0n giv in th¢ Rcport of the Tru5tee5 is irwist¢nt any material respect with the financial statements. or sufficient a¢¢ounting re¢ords have not been kept.. or Ihe financial stattments are noi agreemellt with the accounting records attd returns or we have not received ail the infom)ation and explanations we reqtsire for our audit. Page 6
Report of the Independent Auditors to the Trusttts ol SAINT MARY AND ARCHANCKL MICHAEL covrIc ORTHODOX CHURCH Responsibilities of trustees As explained more fully in the Statement of Trusiees. Resp)nsibtlities. the tru5tee5 are re5FVn5ible for the prqwdtion of the financial statements which give a tnje and fair View. and for such Intern ¢ontroI &% the bustees determin¢ 15 Iiecessary 10 enabl¢ th¢ pprtioll of financial statements that are free from mat¢rial misstatemenl whether due to fraud tsr error. In preparing the finoncial Stste¢t4 the trustees are Tesponsibl¢ for asxssing the chariry's ability to continu¢ as a goins Conc¢ diselosing. applicable. matters related to goin8 concern and using th¢ going ¢on¢¢rn b2si$ of accountin8 unless the trnstees either intend to liquidate the ch3rity or to Ce Operatio orhave no realistic altemaiive but to do so. Page 7
Report of the Independeot Auditors to tb¢ Trustets of SAINT l¥tARY AND ARCHANGEL MICHAEL COVTIC ORTHODOX CHURCH Our respon$lbiRitles for the adit of the fi8¢1 ststemeDts W¢ have been appointed as auditors under Section 144 of the C1wiiies Act 2011 reEM)rt in accord8nce with the Acl and relevant regulations made or having ¢ff¢ci thereund¢r. Our objectives #re io obtsin K¢asonable Udncc aul wlther the financxal statements as a whole are free from misstatement, whether due to frdud or czror, atwj to issue a ReFon of the Independent AudiioTS thai include5 our opinion. Reasonable assurance is a hi levtl of L55ufdnce, but is a guarante¢ that an audit ¢onducted in accordan¢¢ with ISAS (UK) will always detect a material mi&st8tement when it ¢xists. mis51attmet aris¢ from fraud or error and are considered material if, individually or in the aggre¢, they could Te&goAMbly be eXF£t to influence the economic decisions of users tsk¢n on the b&sis of these fancial statements. Identi in aterial mis5tatemetrt due tt) fra As required by auditin8 Standards. gnd tsking irtto aecoutjt )SSIble pressures to meet profit tsrgets and our overall knowledge of the control envLioimietiL we p¢rfotm¢d procedur¢s to addres5 the risks of management override of controls and ihe risk of frauduleni revenue reWtti0 th¢ risk those in charge with managent may be in a p)siiion ff) make inappropriate aceourtting entries and the risk of bi in accounting estime5 and jud8ements suth as th¢ vo]uation of fixed a5S¢ts and financial illSlwtn¢nts and d¢prwiatioll poli¢i¢s. To identify risks of material missment due w fraud {-fraud risks-) we as%ssed events or conditions that could indicate all inc¢ntiYe or pi¢ssure to collunit frdud or provide an oprtUnity to co]ntiiit fraud. We ¢tsmmunicated id¢ntifi¢d frdud risks throu8houl th¢ audit team and remained alertkn any Indi¢10n$ of fraudthrough¢)ut the audiL Our risk ESsMent pmceth]res includ&A: - Enquiring of those charged with management and iTt$peL#ion of key p4)ers to the policies and pllKedures to prevent and detect fraud. including the proc¢ss for engaging moage¢t to idtify frnud risks SPEcifK to the entity's sect(>r, as well as whether thcy have knowl¢dg¢ of any actual. su5peGted. or alleged fraud. - Rcviewing minutes of trustees. rn¢¢tings) - Considering management's incentives and opwrtsmities for fraudul¢Dt manipulatKn of th¢ fina1 statemen. - Assessing significant accounting esiirnaies for bi4 - Auditing the risk of management overrid¢ of ¢olltsol& including thrgh testin8NMaI tntries and other adjustments for appropriateness. aDd evaluating the lyJsÈness r*ional¢ of Si1r1¢an1 transa¢tions outside the nornial Course of busine$5. in s of material mi non-co liance with la We ¢onsid¢red the ext¢ni io whirh non-compliance mtghi have a material tffect on the financial stements. We also nsid¢red those laws alld regulaiions have a di]rct impACt on thc financial sements such as the Companies Act 2006 and the Charittes Stat¢m¢tEt of Recommended PClice {SOR]¥) FRS 102. The entity is subj¢¢t io laws and regulations that directly affect the finan¢ia] ststemettis including finoncial r¢porting legislaiion, tsxation legislation (payroll thxes), and pension l¢gislation and we eSSed the extent of ¢omplian¢¢ with th¢s¢ laws and tygulations as part of our pr(ttduwEs on the related fmancial ststem¢ttts itcrns. As the entity i$ regulatrt our as%ssment of risks involycd gaining at) understanding of tk control uJVinMcnl including the entity's procedur¢s for complying with regulatory requiretnents. W¢ communicated identifjed laws and r¢guiations throughout our ttam and remained alert to any indicdions of non-cornpliance througknut the #udiL Our proc¢dures included: Discussion with those in charge with rnanaBem¢nL and frDm insFt¢tÉon of the cntity's Trgulatory and legal correspoThJence' Discussion with charged with managemetht the p)licies and prnctdures regarding wmpliance with laws and regulations. - Reviewin8 financiat ststemcnt disch)surr5 aj ttsting to supponing d(enlIon w a&Yss complian¢¢ with applicable laws and regulations,. ¥nd - Enquiry of managemenL those char8ed with arouTrl and potentÈal litigation and claitns. Page 8
Report of tht Indepedent Auditors to tht Trusttts of SAINT MARY AND ARCHANCEL MICHAEL COFrIc ORTHODOX CHURCH A fi]rther desciiption of our respJn5ibilities for the audit of th¢ fiTwi¢i81 stht¢ffl¢nts is lo¢ated on the Flnancial Retorting Council's website at www.frc.org.uklaudittThwnsibilities. This description fom]s pan of our RerKTrrt of the Independent Audiiois. Ust of our report This report is made solety to the charity's truste4 as a kndy. in accordance wtth Part 4 of the Charities (AeeA)unts 8nd Reports) Regu110nS 2008. Our audii work been undertaken so we might sthte h) the charity's trustees those matters we are required to state io them in an audttors, rew>rt and for M other purtx)se. To the lIest extent permitted by law. we do not accept or &ssum¢ r¢sponsibility to anyone other thaD the charity and the charity's trustees as a body, for our audit work. for this reJM)rt, or for the opinions we have forn)ed. Ggreth O Hll8 For and on behalf of Garside and Co. Limited Chart¢r¢d Accountants & Statutory Auditor Suite 631. Li Hall 162-168 Regent Street Lond WIB 5TG
SA1Tr4T MARY AND ARCHANGEL MICRIAEL coFric ORTHODOX CHURCH Ststejnent of Financiil Attivities for the Period 6 April 2024 to 30 September 2025 Period 6.424 Year Ended 5.4.24 Total funds 30.925 Total nds fund INCOME AND ENDOWMETrrrs FROM Donations and legacies 891.896 891.896 633,992 Other trading &tiviti¢s Other income 11.430 11,430 17,460 230 Totsl 651682 EXPENDITURE ON Charitable 4ctivltie$ Church Activity 431847 317 895 NET INCOME 471.479 471.479 333,787 RECONCILIATION OF FUNDS Totsl funds brought forward 2,958,188 152 1958.340 2,624,553 TOTAL FUNDS CARIUED FORWARD 3 429 667 152 3 429819 2 958 340 The noks fonn part of these finalleiai statements P4g¢ 10
SAINT I¥IARY AND ARCHANCEL MICHAEL COPTIC ORTHODOX CHURCH Statement of Fillatttial Positio 30 Stptember 2025 30.925 Total fim(L8 5.4.24 Total funds Unrestricied ReStriCd Note5 FIXED A&SETS Tangiblc 8SS¢ts 5525.064 5.525.064 3,401,595 CURRENT ASSETS D¢btotS Cash at bank 10 74,848 213,680 152 75,000 21J.680 30,000 474281 288.528 152 288,680 504281 CREDITORS Amounts falling due withtn one year (624J26) {624.526) (535,554) NET CURRENf ASSETS (J35998) 152 (335,846} (31,273) TOTAL ASSETS LESS CURRENr LIABILITIES 5.189.066 152 5.189,218 3.370J22 CREDITORS Amounts falling due after mort than one year 12 (1.759J99) (1,759J99) (411,982) NET ASSETS 3.429,667 152 3,429.819 2,958.340 FUNDS Unrestricted funds Restricted fund5 14 3.429.667 152 2.958.188 152 TOTAL FUNDS 3,429,819 2,958,340 The financiol ststements were approved by the Board of TnceS and autlM)ri5¢d for issue on 3 1 and were signed on lis behalf by.. Tnts*e The ttx)ies form part of these financial statements Page 11
SAINf MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH St#tement of Cash Flows for the Period 6 April 2024 to JO September 2025 Period 6.4.24 Year Ended 5.4.24 30.925 Cash flows from operating activities Cash generated from owations 473.688 369415 Net ¢&sh provided by operating adivities 473 688 369415 Cash nows from iDYe5ting gctivities Pur¢hw of tangibl¢ fixed &ss¢ts 153.71hS Net Gash used ID investing tivItieS 2.153 706 921606 Cash flow5 from fimncing activiti New loans in year 419 417 503.982 Net cash provid by fi¢Jan¢in% activities 419 417 503 982 Change IN rash artd cth eqllivaleuts ID thc reporting ptriod Cash and eash equivslents at the beginning of the reporting perl(*J (260.601) {48209) 474281 Cash and cfish equivaknt$ a¢ the of tbe r¢porting peTiod 474281 The note5 forni part of these fJDancial ststemellts Pagc 12
SAINT MARY AND ARCHAIYGEL MICHAEL COPTIC ORTHODOX CHURCH Notes to the Sttement of Cash Flows for the P¢riod 6 Aprll 2024 to 30 September 2025 RECONCILIATION OF NET INCOME TO NET CASH FILJW FROM OPERATING ACTIVITIES PeTi(MI 6.424 Year Ended 5.4.24 30.925 Net ineom¢ for tht r¢porting period (s per the Ststewtnt of Fbwci*l Activitie5) Adjustments for. Deprtciaiion charg¢s {IncreLselldecreas¢ in de5 IncreBsc in cr•litors 471.479 333,787 30.237 (45.000> 20,151 6.539 Ne¢ eash provkled by 4yr&doDS 473 688 369,415 ANALYSIS OF CHANGES IN NET DEFr At 6.4.24 CA8h flow At 30.9.25 Net tash Cash ai bonk 474 260 601 213,680 474 281 213680 Debt Debis falling du¢ within l year Debts falling due after l year (519,000) 411982 {72.(K>O) (s91,0()} 47.417 {1 (1759 399 930.982 Total 456 701 (1.680 018 {2.136 719) The forn] panof the finan¢ial SeMents Pag¢ 13
SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Notes to the FiDineial StAtements for the Period 6 April 2024 to 30 Septembtt 2025 ACCOUNTIiYG POLICIES BASIS of preparing the finan¢i41 $txtemellts The financial st8t¢ments of the Charity. which is a public benefit entity under FRS 102, have been pr¢p8red in ac¢ordatt¢e with the Chariti¢$ SORP (FRS 102) AccountiDg and Reporting by Charirie5'. Statement of Recommended Praciice applicable to charities preparing their accounts in accordance with the Financial R¢porting Standard applioble in the UK and Republic of Ireland IFRS 102) (effeetivt I Sanuary 2019),. FiDan¢ial Reporting Stsndard 102 The Finan¢ial Reporting Sthndard applicable in the UK and Republic of Ireland, the Charities Act 2011. The financial statements have been prepared under the histt)ricai cost convenuon. IDtome All inwmc is rKo8ni%d in th¢ Statement of Finan¢ial A¢tivits¢s onee the charity hos ¢nlatlement to th¢ filnds. it is probable the income will be I1ve41 orKI the amowtt can t* measured T¢li4bly. Expenditure Liabilities are recognised a8 expendttitre as soon as there is a legal or constructive obligation wmmittin8 the charity to that txp¢nditure, it Is probable that a trSfer of economic benefjts will be rcquircd in settl¢ment and the amount of the obligation can be meawrtd reliably. Expenditure 15 accounied for on an accnEals b&sis and has b¢¢n cl&8sified under headings that aete all cost related to thc ¢ai¢gory. Ivhere costs cantM)t be directly attributed to partiGular headillgs they have b¢¢n allo lo activitics on a basis n5]St¢llt with th¢ use of resources. Tangibk rued assets DepTE¢iation is prnvided at the following annual rates in ordEr to write off eh asset over its estimatrd useful li Freehold bllildin85- strai8ht line Offttt equipment- 15V47 reducing balance Fixtur¢5 & fJttKng5- 10% rwing balan¢¢ Building under constrnction- not depreciated T#xatlo The ¢harity is ¢x¢mpt from QD its ¢hwitable a¢tivitie Fund aecounting Unre5tricttd fi]nds can be used in accor with the chaTitsbk objective5 at the discretion of th¢ In&¢es. R¢strieted funds ¢an only b¢ used for parti¢u]ar rtstri¢¢ed pur[ within th¢ obj¢rts of the charity. Restri¢iions arise when spe¢ified by the donor or when funds #re raised for partitsJl#rrestricted PUryK>ses. Further explanation of the nature and purtK¥sc of cxh fund is included In the notes M) the financial statement& Pension costs other p05t-retirement beDefits The charity operates a defined contTibution nsiOn scheme. Contributions payabk to the charity's pension scheme are charged to the stsiement of Financial Actiwties in the periiMI to which they re]ate. Pa8e 14 continued...
SAITrIT MARY AND ARCHAIYGEL MICHAEL COPTIC ORTHODOX CHURCH Notes lo the Fin#neig1 Statements- continu¢d for the P¢riod 6 April 2024 to JO September 21n5 DONATIONS AND LEGACIES Period 6.4.24 Year Ended 5.4.24 30.925 Pi8nned giving and colleaions Gift aid 846.896 491,088 141904 OTHER TRADING AcrtVlTIES Peri¢Jd 6.4.24 Ye4rEnded 5.4.24 30.925 Shop income CHARrrABLE ACTIVITIES cosrs Support ¢osts (s note 5) Direct Costs Totals Church Activity 420,447 11.400 431847 SUPPORT COSTS Governance ¢osts Church Activity TRUSTEES, REMUNERATION A]YD BENEF There were no tsustees. remuneration or other twefits for the period ended 30 September 2025 llor for the year e#ded 5 April 2024. Tr51¢¢5, ¢xpens¢s Thtre were no trustees, expensts paid for the etlded 30 Septber2025 Trf)r for the year ended 5 April 2024. Page 15 continu¢d...
SAIP4T MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Not¢s ¢0 ¢he FirAneig1 St#t¢ments- coiitinued for the Period 6 April 21J24 to 30 Septembcr 21125 STAFF COSTS Period 6.4.24 Year Ended 5.4.24 30.925 Wages and salaries Oth¢r pension costs 151,497 96.700 220.819 139 158 The kverage monthly numberof employees durin8 the petiod w&% follows.. Period 6.4.24 ye Ended 5.4.24 30.925 The numberof employe wFK>s¢ employee benefits (excludillg employer pen5ioD exceed £60.1M)O wLs.' Peri 6.4.24 to 30.925 Year Ended 5.4.24 £60.001- £70.000 COMPARATIVLS FOR THE STATEMENT OF FINANCIAL ACTIVITIES UAJresLried funds Restricted fund Total funds INCOME AND ENDOWMENTS FROM tk>nations and le8acies 633.992 633,992 Other trading activiti¢s Other income 17.460 230 17,460 230 To¢gl 651682 651682 EXPENDITURE ON Charitlbk aetivities chUh A¢tivity 317895 317 895 NET INCOME 333.787 333,787 RECONCILIATION OF FUNDS Totsl fund5 brought foThvard 2.624.401 152 2.624,553 Page 16 continued...
SAINt MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Notes to tht Finanti#l st#temts- continued for th¢ Period 6 April 2024 to 30 September 2015 COMPARATtVES FOR THE sfATEMENT OF FINANCIAL AcrtvtTIES- eontlDved Unrestri¢ Restrict¢d fim& fund Total funds TOTAL FUNDS CARRIED FORWARD 2.958.188 152 2 958 340 TANGIBLE FIXED ASSETS Fixiures and fittings Free1Id property Plant and Total$ cosr At 6 April 2024 AdditiOIIS 3.605,727 12,748 247.065 3,865,540 2 153706 At 30 September 2025 5 759.433 12.748 247 065 6019246 DEPRECIATION At 6 April 2024 Charge for yrar 277Jll 174.9 7,416 463.945 383 At 30 Septembtt 2025 299.749 12.027 181406 494,182 NET BOOK VALUE At 30 September 2025 5.459.684 721 5.525.064 At 5 April 2024 3401 $95 io. DEwfoRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.25 5.4.24 Gift aid receivable 30,000 Page 17 continued...
SAINT MARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Note5 to the Finithcial Stgt¢ments- eontinued lor the PeTiod 6 April 2024 to 30 septernr 2025 CREDITORS: AMouTrf15 FALLING DUE wrrHIN ONE YEAR ii. 30.925 5.4.24 Other loans (sce note 13) &)cial securtty and othert&x&q Oth¢r creditor5 ACcnls- Other CXPeA%C5 591.0(N) 3.681 6.533 519,000 3.891 753 535.554 12. CREDITORS: AMOUNTS FALLING DUE A ER MORE THAN ONE YEAR 30.925 5.4.24 Bank 108ns (see note 13) 1.759 399 411.982 13. IX)ANS The charity has a loan fxility unda which fidS are drawn down as required finaEJce the wnsiN¢tion of its property. At 30 September 2025, £1.764.972 had been dramm and is included within creditors. Th¢ remaining undrawn facility is not recognised as a liability. &4 no obligation existed at the reporting date. The term of the bank 108n is 25 yews fom) the date of first utilisation. The inlerest rth applicable to the loan is 2.980kn pa aiK>v¢ th¢ Bank of England ('BoE) bas¢ rat¢ for the firs(24 months. then 2.68¥17 pa above the BOE base rate for the remainder of the terni. The bank loan is repayable by rnonthly instalrnents of intcre5t onty for the first 24 months after ¢h¢ fir51 yiilisation followed by monthly instslments of capithi and interest for th¢ remainder of the tenn. A fjxed charge is held again the Chur¢h building &5 s¢¢urity for the loath. Other108ns represents unseeured loans reL%ived by the Churth from mernbers of tl* conwgation. 14. MOVEMEiYf IN FUNDS Net ovefftertt in funds At 30.9.25 At 6.424 Unre5tri¢ted fuDds G¢n¢ral fund 1958.188 471.479 3.429.667 Restrieted funds RESTRICTED 152 152 TOTAL FUNDS 2 958 340 471479 3 429819 Page 18 ntillu¢d...
SAINT I¥IARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Notes to the Finncial Ststements- ¢ontlDued for ihe Period 6 Aprll 2024 to 30 sePtebEr 21125 14. MOVEMENT IN FUNDS. ¢fjntillued N¢t movcment in fund4 I1led in the aknve are &5 follows: Incoming Movement Én funds expended unrestrCted funds General fId SJ)3J26 (431.847) 471,479 TOTAL FUNDS I3)26 431.847) 471.479 Compr8tiv¢s for wffvvemtyt in flln Net movement in funds At 5.4.24 At 6.4.23 Unrestrieted fund$ Gerteral fund 2.624.401 333,787 2,958,188 Re5tri¢tÉd funds 152 152 TOTAL FUNDS 2.624J53 333.787 2.958,340 Comparative nrt movement in fimds, included in the aknve are &$ follows: Incoming resources R¢sour¢¢s expended Movemeni in fi]nds Unrestri¢t¢d funds Gen¢ fund 651.682 {317,8951 333,787 TOTAL FUNDS 651,682 317,895) 333.787 Pa8e 19 ¢ontinwd...
SAtriT MARY AND ARCHANGEL MICHAEL coyrtc ORTHODOX CHURCH Notes to tb¢ Financial St#tements- continwed for the Period 6 April 2024 to JO Sep1¢mr 21125 Is. RELATED PARTY DISCLOSURF There were TBIat party tranwtiQnS rtquiring aisciosure during the period ¢nded 30 September 2025. At the balance sheet dai¢, gn amount of £9,(th was outstsnding a trustec in resp¢¢t of a loan and is included within Other Loans (see Note I l). During the period, the tnjstees made IkTrnations to th¢ charity loling £23,917. 16. POST BALANCE SHEET EVEKts Following th¢ balance shed dale. the recon5tructi¢m of th¢ church hall building w&s completed and th¢ f*ility is now being us¢d for its iDtended rharitsble PLLrtx)ses. This repr¢sMts a no1#djUst11 event after the retK)rting period alld h&% rtot resulted in any adiustmeDt to these financial statements. Pa8e 20
SAINT MARY AND ARCHANGEL MICHAEL COYllC ORTHODOX CHURCH Deiailed Stat¢m¢nt of Financial Aetivilies for th¢ Period 6 April 21124 10 30 September 2025 Period 6.4.24 lo 30.925 Year Ended 5.4.24 INCOME AND ENDOWMENrs Dontion$ leg%cies Planned giving and collectiotL5 Gift aid 846.896 491,088 142 904 891.896 633.992 Other tr4ding gctivities Shop income 11.430 17,460 Other incom S¢Ewing of minilm 230 Total incoming re50urtes 903.326 651.682 EXPENDITURE ChAritAble a£ttvitie8 Staff wages Staff pension contributions London Diocese Expenses Social Serviccs Expenses Direct scrvicc costs Church departm¢nts ministr Church Canteen & bLK)kshop Rates and water Light and H¢at Rep8ir5, maintenance and decor Insurance Ir and Corhth)uni¢ations Bank charg¢5 Depr¢citon mie[lane0us Exp¢trk8es 15 1,497 69.322 37,500 14,400 17.097 47,257 22,026 4.399 7.098 1,284 16.091 1,318 928 30.230 96.7(1 42.458 61.204 9,600 9.256 34,564 16,365 1.029 1,767 8,232 880 649 20,151 240 420.447 306,495 SuprI rwts Gov¢rn¥Dee eosts Audit fe¢ 11,400 11,400 This page not forn part ofthe ststutory fjnancial statements Pa8e21
SAINT NIARY AND ARCHANGEL MICHAEL COPTIC ORTHODOX CHURCH Detailed Statement of Financial Aetivities for the Period 6 Aprl12024 to 30 September 2025 Period 6.4.24 Y¢arEnd 5.4.24 30.925 Totsl resources exp¢nded 317895 Net income 471479 333 787 This page not fonn wt of the statutory financial strtements Page 22