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2022-08-31-accounts

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 2021

End date: 31 August 2022

DEBRE MEDHANIT KIDANE MEHRET Contents Page For the year ended 31 August 2022

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 2022

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 2022

Director's report and financial statements

The directors present their annual report and the financial statements for the year ended 31 August 2022

Principal activities

Principal activity of the company during the financial period 31 August 2022 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 need and promote against antisocial behaviors

Directors

The directors who served the company throughout the period 31 August 2022 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 2022

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

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: 21 September 2022

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DEBRE MEDHANIT KIDANE MEHRET Accountants' Report For the year ended 31 August 2022

Accountants report

You consider that the company is exempt from an audit for the year ended 31 August 2022. 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 21/09/2022

.................................................... BMK Accountancy Ltd 203 TUDOR LEAF BUSINESS CENT

2-8 FOUNTAYNE ROAD LONDON LONDON N15 4QL 21 September 2022

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DEBRE MEDHANIT KIDANE MEHRET Income Statement

For the year ended 31 August 2022

Notes
Turnover
2
Cost of sales
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		 2022
£
363,544
(3)
363,541
(101,907)
261,634
261,634
0
261,634		 2021
£
260,127
0
260,127
(81,587)
178,540
178,540
0
178,540

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DEBRE MEDHANIT KIDANE MEHRET Statement of Financial Position As at 31 August 2022

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		 2022
£
2,023,987
2,023,987
0
804,556
804,556
(500)
804,056
2,828,043
2,828,043
2,566,635
261,408
2,828,043		 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

For the accounting period 31 August 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:

  1. The members have not required the company to obtain an audit of its accounts for the period 31 August 2022 in question in accordance with section 476

  2. 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 2022

The financial statements were approved by the board of directors on 21 September 2022 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 2022

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 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 received during the year 01/09/21 to 31/08/22----------------£363544.57 Cash Payments during the year 01/09/21 to 31/0/22----------------£106266.75 Net Increase in cash and cash equivalents----------------------------£257277.82 Cash and cash equivalents at the beginning of the year-----------£547,278.41 Cash and cash equivalents at the end of the year-------------------£804,556.23

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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2022

Cash at Bank

Cash on Hand and Bank as of 31 August 2022 is as follows

LLOYDS Bank Balance on 31/8/2021-----------------------£732,040.67 Total bank Balance as of 31 August 2021-----------------£72,015.44 Cash on hand as of 31 August 2021------------------------£500.12 Total Cash at Bank and on hand as of 31/08/21-------£804,556.23

Creditors

Accrued Expense Accounting fee 2021/2022-- --------------------------------£500.00

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

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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2022

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		 2022
£
75,910
7,520
7,300
57,257
18,178
4,800
7,255
185,324
0
363,544
2022
£
34,008
4,102		 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

3. Operating profit/(loss)

4. Average number of employees

Average number of employees during the year was 2 (2021 : 2).

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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2022

5. Tangible fixed assets
Cost or valuation
Land and
Buildings
£
At 01 September 2021
2,001,485
Additions
-
Disposals
-
At 31 August 2022
2,001,485
Depreciation
At 01 September 2021
-
Charge for year
-
On disposals
-
At 31 August 2022
-
Net book values
Closing balance as at 31 August 2022
2,001,485
Opening balance as at 01 September
2021
2,001,485
6. Debtors: amounts falling due within one year
Staff Debtors
7. Creditors: amount falling due within one year
Accrued Expenses
Wages & Salaries Income tax &NIC payable		 Fixtures
and Fittings
£
45,583
648
-
46,231
24,905
4,102
-
29,007
17,224
20,678		 Computer
Equipment
£
-
5,278
-
5,278
-
-
-
-
5,278
863
2022
£
0
0
2022
£
500
0
500		 Total
£
2,047,068
5,926
-
2,052,994
24,905
4,102
-
29,007
2,023,987
2,023,026
2021
£
1,087
1,087
2021
£
4,600
(783)
3,817

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DEBRE MEDHANIT KIDANE MEHRET Notes to the Financial Statements For the year ended 31 August 2022

8. Profit and loss account

Profit and loss account
Balance at 01 September 2021
Profit for the year
Prior Year Adjustment
Balance at 31 August 2022		 2022
£
0
261,634
(226)
261,408

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 2022

Turnover
Tithe
Baptism
Requiem Service
Donation
Sales of Gift
Wedding Service
Hall Hire
Offer
Other Income
Cost of sales
Employer's PAYE & NI Contributions
Gross profit
Administrative expenses
Wages & Salaries
Employer's PAYE & NI Contributions
Directors Salaries
Accountancy Fees
Rates & Water
Light, Heat & Power
Property Insurance
Bank Charges
Depreciation Charge: Fixtures & Fittings
Computer Expenses
Repairs & Renewals
Telephone, Fax & Internet
Sundry Expenses
Church Services
Supplies expenses
Operating profit
Profit/(Loss) on ordinary activities before
taxation		 3 2022
£
75,910
7,520
7,300
57,257
18,178
4,800
7,255
185,324
0
363,544

(3)
363,541















(101,907)
261,634
261,634









0		 2021
£
76,221
5,810
7,150
27,288
9,019
5,100
3,150
122,382
4,007
260,127
0
21,984
0
34,008
500
630
5,517
1,868
3,847
4,102
606
13,626
619
(2)
10,813
3,789
19,200
349
30,000
500
598
5,523
1,760
2,527
4,102
1,337
9,984
418
0
4,000
1,289
260,127
(81,587)
178,540
178,540

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261,634

178,540

DEBRE MEDHANIT KIDANE MEHRET Detailed Income Statement For the year ended 31 August 2022

Profit/(Loss) for the financial year

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