Registered Number: 06672273 England and Wales
DEBRE MEDHANIT KIDANE MEHRET
Report of the Directors and Unaudited Financial Statements
Period of accounts
Start date: 01 September 2020
End date: 31 August 2021
DEBRE MEDHANIT KIDANE MEHRET Contents Page For the year ended 31 August 2021
| Company information | 3 |
|---|---|
| Directors' report | 4 |
| Accountants' report | 6 |
| Income statement | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 10 |
| Detailed income statement | 15 |
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DEBRE MEDHANIT KIDANE MEHRET Company Information For the year ended 31 August 2021
Directors Dr Ghebrat Kahsay Rev Leul Tekeste Registered Number 06672273 Registered Office DEBRE MEDHANIT KIDANE MEHRET ERITREAN CHURCH TUBBS ROAD LONDON NW10 4SD Accountants BMK Accountancy Ltd 203 TUDOR LEAF BUSINESS CENT 2-8 FOUNTAYNE ROAD LONDON LONDON N15 4QL Secretary Michael Negussie Bankers LLOYDS BANK ROYAL BANK
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DEBRE MEDHANIT KIDANE MEHRET Directors' Report For the year ended 31 August 2021
The directors present their annual report and the financial statements for the year ended 31 August 2021
Principal activities
Principal activity of the company during the financial period 31 August 2021 were:-
-To advance the Eritrean Christian Orthodox Religion in all parts of the United Kingdom for the benefit of the public through the holding prayer meeting ,lectures, public celebrations of religious festivals, producing and /or distributing literature on the Eritrean Christian Orthodox Religion to enlighten others about the Eritrean Christian Orthodox religion.
-To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship of social circumstances with the object of improving their conditions of life.
-To maintain the doctrine worship of the Eritrean Christian Orthodox Religion Church in UK
-To unite the members of the Eritrean Christian Orthodox Religion Church in UK
-To promote tolerance and friendly relations with other churches and religious communities
-To promote the relief of poverty, illiteracy, sickness and disaster
-To promote public awareness and knowledge of Eritrean Gospel songs and cultures
-to address and relief of poverty, illiteracy, sickness and distress, youth needs and promote against anti social behaviors
Directors
The directors who served the company throughout the period 31 August 2021 were as follows: Dr Ghebrat Woldghiorgis Kahsay Rev Leul Tekeste
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DEBRE MEDHANIT KIDANE MEHRET Directors' Report For the year ended 31 August 2021
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
-
select suitable accounting policies and then apply them consistently make judgments and accounting estimates that are reasonable and prudent
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the board and signed on its behalf by:
---------------------------------Rev Leul Tekeste Director
Date approved: 07 September 2021
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DEBRE MEDHANIT KIDANE MEHRET Accountants' Report For the year ended 31 August 2021
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Berhane Mehari 07/09/2021
.................................................... BMK Accountancy Ltd 203 TUDOR LEAF BUSINESS CENT
2-8 FOUNTAYNE ROAD LONDON LONDON N15 4QL 07 September 2021
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DEBRE MEDHANIT KIDANE MEHRET Income Statement For the year ended 31 August 2021
| Notes Turnover 2 Gross profit Administrative expenses Operating profit 3 Profit/(Loss) on ordinary activities before taxation Tax on profit on ordinary activities Profit/(Loss) for the financial year |
2021 £ 260,127 260,127 (81,587) 178,540 178,540 0 178,540 |
2020 £ 224,640 |
|---|---|---|
| 224,640 (72,243) |
||
| 152,397 | ||
| 152,397 0 |
||
| 152,397 |
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DEBRE MEDHANIT KIDANE MEHRET Statement of Financial Position As at 31 August 2021
| Notes Fixed assets Tangible fixed assets 5 Current assets Debtors: amounts falling due within one year 6 Cash at bank and in hand Creditors: amount falling due within one year 7 Net current assets Total assets less current liabilities Net assets Capital and reserves Reserves 8 Profit and loss account 9 Members' funds |
2021 £ 2,023,026 2,023,026 1,087 547,426 548,513 (3,817) 544,696 2,567,722 2,567,722 2,389,182 178,540 2,567,722 |
2020 £ 2,026,265 |
|---|---|---|
| 2,026,265 1,087 366,430 |
||
| 367,517 (4,599) |
||
| 362,918 | ||
| 2,389,183 | ||
| 2,389,183 | ||
| 2,236,786 152,397 |
||
| 2,389,183 |
For the accounting period 31 August 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its accounts for the period 31 August 2021 in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
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DEBRE MEDHANIT KIDANE MEHRET Statement of Financial Position As at 31 August 2021
The financial statements were approved by the board of directors on 07 September 2021 and were signed on its behalf by:
Rev Leul Tekeste Director
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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2021
General Information
Debre Medhanit Kidane Mehret Eritrean Christian Orthodox Tewahdo Church in UK LTD Company Type :- Non-Profitable
Registered under : Company House and Charity Commission Company House Registration Number 667273 Charity Commission Registration Number 1140966 Registration Address is as follows: Debre Medhanit Kidane Mehret Eritrean Church Tubbs Road London NW10 4SD
The presentation currency is £ sterling
1. Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of Income from its the contribution of its members, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Statement of cash flows
Cash Receipts during the year ---------- ----------------------------£260,128.71 Total Cash payments during 01/09/2020 to 31/08/2021-------£79,133.16 Net Increase in cash and cash equivalents during the year----£180,995.55 Cash at the beginning of the year-----------------------------------£366430.33 Cash at the ending of the Year 31 August 2021-------------------£547,425.88
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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2021
Cash at Bank
Cash on Hand and Bank as of 31 August 2021 is as follows
LLOYDS Bank Balance on 31/8/2021-----------------------£493,943.82 Total bank Balance as of 31 August 2021-----------------£47,921.94 Cash on hand as of 31 August 2021------------------------£5560.12 Total Cash at Bank and on hand as of 31/08/21-------£547,425.88
Creditors
Accrued Expense Accounting fee 2020/2021-- --------------------------------£500.00 Salary of August 2021----------------------------------------£4100.00 Total--------------------------------------------------------------£4600.00
Taxation
NO PROVISION FOR CORPORATION TAX HAS BEEN MADE IN THESE ACCOUNTS AS THE COMPANY IS NOT A PROFIT MAKING ORGANSATION
Tangible fixed assets
Tangible fixed assets, other than freehand land, are stated at cost or valuation less depreciation . Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:-Fixtures and fitting -10% residual value and 10 years expected lives-straight line method -Computers-5 years expected lives with out residual value
- Fixtures and fitting purchases and their depreciation during the following years: Depreciation of 2021----£45583.00 less £4558.30/10 years--------------------£4102.00
Debtors
Staff Detors: - Hagos Tewelde ---------------------------------------------------------£1087.00
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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2021
2. Turnover
| Tithe Baptism Requiem Service Donation Sales of Gift Wedding Service Hall Hire Offer Other Income Operating profit/(loss) The operating profit is stated after charging: Directors emoluments Depreciation of tangible fixed assets |
2021 £ 76,221 5,810 7,150 27,288 9,019 5,100 3,150 122,382 4,007 260,127 2021 £ 30,000 4,102 |
2020 £ 57,986 4,880 4,830 28,552 13,441 3,550 3,390 107,015 996 |
|---|---|---|
| 224,640 | ||
| 2020 £ 29,667 4,102 |
3. Operating profit/(loss)
4. Average number of employees
Average number of employees during the year was 2 (2020 : 2).
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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2021
| 5. Tangible fixed assets Cost or valuation Land and Buildings £ At 01 September 2020 2,001,485 Additions - Disposals - At 31 August 2021 2,001,485 Depreciation At 01 September 2020 - Charge for year - On disposals - At 31 August 2021 - Net book values Closing balance as at 31 August 2021 2,001,485 Opening balance as at 01 September 2020 2,001,485 6. Debtors: amounts falling due within one year Staff Debtors 7. Creditors: amount falling due within one year Trade Creditors Accrued Expenses Wages & Salaries Income tax &NIC payable |
Fixtures and Fittings £ 45,583 - - 45,583 20,803 4,102 - 24,905 20,678 24,780 |
Computer Equipment £ - 863 - 863 - - - - 863 - 2021 £ 1,087 1,087 2021 £ 0 4,600 (783) 3,817 |
Total £ 2,047,068 863 - |
|
|---|---|---|---|---|
| 2,047,931 | ||||
| 20,803 4,102 - |
||||
| 24,905 | ||||
| 2,023,026 | ||||
| 2,026,265 | ||||
| 2020 £ 1,087 1,087 2020 £ (1) 4,600 0 4,599 |
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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2021
8. Profit and loss account
| Profit and loss account | |
|---|---|
| Balance at 01 September 2020 Profit for the year Balance at 31 August 2021 |
2021 £ 0 178,540 |
| 178,540 |
9. Company Limited by Guarantee
The company is limited by guarantee and therefore has no shares.
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DEBRE MEDHANIT KIDANE MEHRET Detailed Income Statement For the year ended 31 August 2021
| Turnover Tithe Baptism Requiem Service Donation Sales of Gift Wedding Service Hall Hire Offer Other Income Gross profit Administrative expenses Wages & Salaries Employer's PAYE & NI Contributions Directors Salaries Accountancy Fees Rates & Water Light, Heat & Power Property Insurance General Travel Expenses Bank Charges Depreciation Charge: Fixtures & Fittings Computer Expenses Repairs & Renewals Stationery & Postage Telephone, Fax & Internet Sundry Expenses Church Services Sunday schools Supplies expenses Operating profit Profit/(Loss) on ordinary activities before taxation |
19,200 349 30,000 500 598 5,523 1,760 0 2,527 4,102 1,337 9,984 0 418 0 4,000 0 1,289 |
2021 £ 76,221 5,810 7,150 27,288 9,019 5,100 3,150 122,382 4,007 260,127 260,127 (81,587) 178,540 178,540 |
19,200 0 29,667 500 650 8,982 1,832 200 1,727 4,102 856 1,538 500 309 474 0 250 1,456 |
2020 £ 57,986 4,880 4,830 28,552 13,441 3,550 3,390 107,015 996 |
|---|---|---|---|---|
| 224,640 | ||||
| 224,640 (72,243) |
||||
| 152,397 | ||||
| 152,397 |
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178,540
152,397
DEBRE MEDHANIT KIDANE MEHRET Detailed Income Statement For the year ended 31 August 2021
Profit/(Loss) for the financial year
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