Charity rngitstration numb•r 1141610 Comp•ny r•gistr•tion numb•r 07395920 (England and Wal•sl ARMENIAN CHURCH TRUST (UK) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ARMENIAN CHURCH TRUST (UK) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trv$tees Mr V B Hakdjian Mr Z M Gaspanan Very Revd V Manukyan Mr B Aslanyan Mrs A Lundon Mi K K Vartani8n Charity numb•r 1141610 Company nuM￿r 07395920 R•glst•red offlc• 107 E￿ing Roa Bfontford Middles•x TW8 OLF lnd•￿n￿•nt •x*mln•r Oaniel Gafnold Moore Northem Nome Couniies Limiled First Floor 7>75 High Str••l Stgvonage Hertfordshlr• SGI 3HR ARMENIAN CHURCH TRUST (UK) LIMITED CONTENTS P•99 Tru8tao8' Mport In￿￿￿￿OnI gxamln•f$ ￿POrt Stai•mènt of financial •cti¥ii Balanc8 6haèt Notes to the finanrjal statements 7-14 ARMENIAN CHURCH TRUST (UK) LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The tmstees present 1hp.ir annL￿1 r•port and financlal statsments for th• year tsnded 31 Marth 2024. Th8 flnan¢ial statemerts have been prepaf8d In accordance with thg accountin9 policitts set out In note 1 to the financial st8t8mènts and CoM￿Y with the charity's Memor8rNlum and Anides of Assouation. IM& Companies Act 2006 and "AcLounting and Reporting by Chariligs". Staiemeni of Recommended Pra¢tlC8 appljcable to charitie3 propanrtrg thair accounts In accord&n¢e with thé Financial Reporting Stsndard applicable In the VK and Republic of Ireland IFRS 1021 leffgetive 1 January 2019>". Objo¢tlv•8 and aetlvlti• Thb objgcts ol the cnarity ar• lo advance the Chris1￿ laith In accordance with Ihe doeirina of tho Am•nian church In such ways and In SLKh pans ol the Uni¢ed Trthngdom and oveiseas as th8 trust88s may from ts'm8 to tlm8 think fit. In sèttjng out th¥ objectsves and plannirwj tr￿ acbvits"•s. Tho trustgog have giv•n c8r•ful ¢onBidaratic*n to the Charity Commission s ¥eneral guidance on putAic bon•fit. Thé ￿)MpanY eonlinuos its •ffons for th• adVan￿m0nt of the Armgnian Chrlsllan faith in th• Unjled Kingdorn and has èstablishèd Armènian Chrigiian •du￿110￿al PfOgramThw - monlNy lectuf¥s. weokly ¢iscuss￿l groups and youth related proi•cts Igr this purpo8•. A¢hl•v•m•nt• and p•rlomi•nc• Diseovgring anrj connecting wilh n•wly lound Arn)8nian communitj.es throughout the Unlled Kingdom and arran&i119 fkni Arm•nian Ghurett 8orvic•s to be h￿d in lh• now found City￿. During Ihg year, the charity contsnued Wllh its programme ol 8ibl8 Stud￿. organising Pi19rimage to J•ru8al•m holding ol the annual Arrnen￿n Street Feslryal, prodLJtyng and publishing of tho n•wsl8tter. and continuing with ils mis$ion paiish oulroach to 9ather and strengthen the faithful under the umbrella ol the Al[￿nian Apostolic Church. Flnanclal revl•w Durins lh• yèai tha Charity r&ceived donations arKI glfts of £173,983 which wer8 expgnsed towards tha charitablo activitios ol the Chanty as detailed in r￿1? 7. The chanty also r•c&iv8s monthly sponsorship incomo towards th• production and publishing of Th*￿Ietter which is •leclronKally senl to th• eommuntty. Reserv•# are n••d8d to c￿( gap belw8•n receivin9 of ifirome and futur• spending. Thg iNsl•68 consldar that Inè ideal lèvel of reseTre as al 31 March 2024 would b8 £40,000 would be required to meet, In partlCLilar, 8xp•ns•s assuciaiad with the Primate-s programmes. Thè profil for tho year w8s £38,395 and th& lèvel of resèrves al the balance sh881 dale was £594.g26. The trusitres consider the level ol the o5erves ¢0 be sufficienl lo iyjt their future chanlaole activities. The Iruslees hAvo as8pssed thè major risks to vthith lh• chanty ik &xp06ed. and 8ati8fiod thal syslèmj thre in place its mltigaia 8xposurg to thè maiof risks. Tht charity's future pian5 ar• to continue wilh leaching of the Gospd and reach out ￿ thè eommunity and contlnU8 to strive to make Ihe chrisb.an laith and CLdture of the Armenlan people rele¥ani ￿ Ihe lifè of èvgry Armenian. ARMENIAN CHURCH TRUST (UK) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 F¢Jrther plans for future oenods Indude activttss in the lollm.ng areas.. Mainlainlng offices and Chanctllery: Setretariat, Newsletters, Website. YouTube channels. &￿'al Media. Ministp.es'. promoting I ltsr9ical Life. establishing miss￿n parishes and doing outreach programs, training deacons, organising special servi￿3, n￿y￿ed couples. making Pilgrima9es lo Holy Land, Armenia and withln the UK. Education.. organi3ipg lectures. workshops, trainings, publishing IM)ks for the needs of the community. Programmos.. promoting the wcth ol Lod,.e8 Commttt8es. Youth organisatsDns. Ecumenleal. 8uppofiing the ecumenul engagement ol Ihe Primate wilh other d8nominal•)ns. Ch8ntyldi8konia'. Emergenty situations le.g. ￿￿141e Easll arml wider s￿la1 noods, the enwronmenl. StruGtur•, gov•rnance und managemènt Arllienian ChLJrch Tru&1 IUKI Limiioa Is a r•gi$t•r•d charrty and a company limited by guaranlw 9ovam8d by its Meinorandum and Arii.-18s ofA$souat￿ a$ aTrwnd￿ on 11 April 2022. The trugtè•$. who ara also tn• ¢Jtroclors for Iho purpo8• of company law. who servod dunng ¢h8 year ￿(•.. Mr v e Hal&oil8n Mr 2 M Gasparian V•ry Rèva V Manukyan Mr B Aslanyan Mrs A Lundon Mr K K Vartani$n A Board of Truslees iaf six membors admini$1ors th• Charty. Trust••s ar• #ppoinled in aeeard#ne• wth th Memorandum and Articles olA5%)cialion. Nona of the trust¢¢s ho3 ony benef￿181 int•r•st In the ¢ompany. Al ol thg Iru8lw8 aig m&mts&rs ol the cornpany anc 9yèranleo lo coiilribule £10 in the tsv•nl of a wlnding up. The trustees. r&port %13s approvgd by the Boa￿ of Trustee8. ladjian Vèry Revd Manuky•n Dated.. ARMENIAN CHURCH TRUST (UK) LIMITED INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF ARMENIAN CHURCH TRUST (UK) LIMITED I ro00rt lo the Irust8•s on my exawnination ol th8 flnanual sta*ments of ￿m￿n￿￿ Church Twst IUKI Llmitgd Ith6 charity) for the ytsaf 8nd&d 31 Marcn 2024. R•Aponsibilitle5 and b•8I8 ol report As tne irusTè95 01 tli¥ Lnanty land also Its direclor3 for lh• purposes ol tompany lawl y(Ju ar8 responslblè for the prèparats'on ol the finanGid slalements in accordance ¥*ilh Ihg r8quiremenis of the Compani85 Act 2006 lthe 2006 Acii. Havino sallsfied myse51 that me frnanci31 s¢aiom8nts of tho charty ara not r8quirod to be audrtèd und•r Part 16 ol ki.t) gOG6 Aci anL a.-e eligiole '.01 lncj8￿ndont èxaminatK)n. I roport In roSp￿ of my examination ol the charily s financial sta.'ements carr18c aut under saction 145 of thè Charitses Act 2011 (thè 2011 Act). In Garrying oui mi examlnatio. have followed all tho applicgblg Dir•etionÈ given by the Charity Commi$sion under 89¢110.'1 145 jbiibl ol tne 2011 Act. Indgpend•nt •xaminerf8 Stat•m•nt I ha¥e ￿0(r.ple18lI L'XaiTiiiialion. I confim) ihat no matt¢rn havo com? to my attonlon in connection with th& examination giving tTie cause lo b8118¥e thal In any rnaiorial r•sp8¢t' aGcounling records werè noi kept In r95pecl of the charty as rfjquiffjd by 386 01 the 2006 Act,. or th& flnanual staiements do not accord wilh those reco￿$.. or the fina4Gial s12temonts (ki noi cOm￿Y wilh the accouniing r8quirgm8nls ol section 396 01 th8 2006 Act orher IfLan any 'iiquiremeni Thai Ihe ac￿￿nts give a true and fair view vthich is not a matter consiijorod as part of in(1*1I4r aeni exaniinatiun, or the financial Slaienents nave not trJ88n prepaf8d In accofdance wrth Ihg m8thods and principl¥3 ol th& Sldiement ol PIC￿Mmende0 Practicé for accA)unling and roponing by Chan￿•& applicablè to charits'a$ Pit*paring Iheir d"counis in accordance wth iha Financial Re￿￿"n9 Stand•rd applicablo in the UK 8nd Republic ol Irelrir J IFRS 102). I havg no concorns And havo carne aeross no othw mallers in tr*nnedion with th• examinallon 10 v4hich tt•nt..on thould bo rir3wn In Ihij report i* ¢rd•r to ènabl• a prop¥r undeibldiKllrw uf Ihe nnanclal siatemen¢s to ba rèacned. Daniel Gartielci Independoni Examiner Moore Northèm Home Counties Limited First Floor 73-75 High Str8 Sieveiaga HgriluT(Jshlr8 SG1 JHR Oated.. ARMENIAN CHURCH TRUST (UK) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR I-HE YEAr¢ ENDED 31 MARCH 2024 u￿r￿tri￿10d R*•trirted fundi fvnds 2024 2024 Total Unr••trict•d R•strlct•d funds funds 2023 2023 Total 2024 2023 Notes Income from.. Dor.31ions and Iggacies Charilllble tsrlivi11•8 Oitiel trading 213.127 213.127 296,939 28.475 323.414 2.000 21.732 758 21.732 758 35.914 252 35.914 252 nls Totsl Incom• 235,617 235.617 335.105 26.475 361,580 Chari13bl• atttlvrtiés 197.222 197,222 202.487 2,672 205.159 N•t In¢omè lor the yearl Not movement In lund5 38.395 38.395 132.618 23.803 158,421 FLind Iix5*ni'es at 1 Aprfl 2023 532.728 23,803 556.531 400.110 400,110 Fund balane•* •t 31 March 2LJ24 571.123 23.803 594,926 532,728 23.803 556,531 Thè 8tawmenl ol finanoal activttkns includos all gains and l¢)sses ￿¢00n$Sed in the year. All income and expenditurvj derive from continulng afflivrtlés gnd comprw unffjstrict•d frjnds only. The 8ta!orncnt of firJ¥tii¢ial aGliviti•s also r￿mPlIeS wllh th• requir•ments lof an Income and exp8ndttur• •ccount under th8 Compan+e5 Act 2008. ARMENIAN CHURCH TRUST (UK) LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 N¢t•s Flxed as8•tJ Tangible assets 1,393,817 1,371,435 Current a$3etg Oetr>lor.% Cash ai bank a￿1 in nand 12 5.993 97.931 5,640 106,960 103,924 112.600 Cr8dltori'. amounts fallln9 du• wlthln on• y••r 14 140,3591 1487.5041 N•1 curfthnt assetsllliabilitiesl 63.565 1374,9041 Total assets less current liabilitb•s 1.457.382 996.531 Crgdltor•: amounts falling du• •ft•r morg than ono y•ar 15 1862.456} 1440,0001 N•t J8S•t8 594.926 556.531 Incomo lunds Rgsiriclod lund$ unf0st￿lete0 funds 17 23.803 S71.123 23,803 532,728 594.926 S56.531 ARMENIAN CHURCH TRUST (UK) LIMITED BALANCE SHEET (CONTINUED AS AT 31 MARCH 2024 The ¢omp8ny IB •ntitlAd to th¥ exery>t￿n from ih• audrt raquiromeni contained in $8ct*)n 477 of the CompanSes Act 2auo. ror the year ènd￿ 31 Maith 2024. The Trvs¢8es acknowle(Ige Imeii responsibili1￿ for ensunng Ihat tho charity keeps O￿oUn￿"ng i8￿rdS which co￿￿￿￿Y **ill. seLbori 3118 ol lh¢ Act ana loi preparirw acu)unts whKh qtve a and fair vitsw ol the 51ale ol affairs oi ine compaiiy as ai Ihe end of the financb81 year and ot ils incoming resourcos and application of resourc88 Inc J*iio itt Income d.. Id B¥pen£SltUfe. for tne financial y8ar In a¢cordan¢e with the requirements of sections 394 anti 39. *rid wriich oihei 74.'58 comply with lie iequiroments ol th& Companies kt 2006 ￿latin9 to accounts. 50 lar as ¥ppllcabl8 10 th• ￿rnpany. Tn& tyembers have ndi requir8d the cornpany lo obtain an audit of rts financial stst8mgnts lor Iho yoar in qu&s1ion in ac¢oiaanc• Wllh see410n 476. Tnes& iinancial staiements hav8 been pr8pafad in *cordarb¢e wth thè provis￿8 applicable to ¢omp8nies 8uL•j•cl lo Iiie small companpès regim8. Tn, meni¥ were appfoved by the Trusi••$ ￿ ...... Mr Tri Hal¥diian Very nukyan Tru•t•o Company rggistratltsn numb•r 0739S920 ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poli¢les Cl)ar'ly Inlorri.'a!lon rmftnian ChL'-rtt Tnjst IUKI LiTr.il•d is a pnvato company limitod by guarBntee incorporatod in Engl•nd and Tn8 f8gl%i8r8o offic• 1$ 107 Ealing Road, 81onttord. Mthl888x. TW8 OLF. 1.1 Accountlng convefttion The financial Slalemen15 have beon prepared in accord8nce w¢th thè charitys Memo(andum and Articles of Ajsocialion, I,',e ¥dompanies Aci 2006 ar￿ -Accounlin9 and Reportin9 by Charili&s.. St8t8menl ol kecow.niended Ir8cli£e applicable to chariii¢s preparing their accounts in accordanc* with the Financial Rtsyvitiriy s￿r.￿Ord applicable In the UK ana ReyutAIG ¢Jl Ireland IFRS 1021 l&ffectsv6 1 January 20191". The charity 1$ a Pvbl',c Bi>n•fii Enthy a8 ¢¢llned by FRS 102. '.• ¢￿.￿rity has '.akon adv8nlage ol Iha provlslons In the SORP charilw ￿p￿y1￿9 FRS 102 Updat8 8ulletin not Oi•PalÈ é SialLTrm&nl ol C¥5h Flr)w3. Tli& fpiiancial Shdke.menis are pfep8r•d In ¥terlin9. whKh is the funth"¢)nal ￿rrenCY of the charity. Monetary amJuit4 In thes= f',-aricial stai8n)ents are rounded to the nearest £. Tne fiyancial Sldiements nave been prepared uno8r th8 ht$lcK￿I cosl conv•ntion. Tho princip81 aceoun*'ng policitts aar)pted 3r¢ Sei oui Deiow. 1.2 Goinp cone•rp l the time o ap?rovirtg ihe finorKthI Statwh￿1$. th• vusto¥s have • ro0gon•blo exp8Ctatlon that lh? chmrity .as adéquate re$oufces lo continu• in operntional exisienc• lor the lor8saèable future. Thu$ th8 trustetss cor,lir.uè 10 Jd.. .1 ihLi fjo'.no contiern bas￿ of a¢￿U￿bA9 In pi•paring th8 finanejal 5tatomentg. 1.3 Charitabl* luiids unr8sif,-.18c I Ir,#s are availablo for use ai the discretKJn of Ihe trustett In furth•[an￿ of th8ir charftablo obieciivg8. 1.4 Incom• Incorrits Is reeoariséd wh*n Ihe chanty 1$ legally Onl￿ded to It after any performance eonolllons hove been mol, the arnounts cai 08 m8asur•d rèliably, and it 1$ proba￿¢ that inLxJme wll be r•tsived. Cash donations are re¢ognis8d on receipt. Other donations are I•￿nIsed once the charity has been notified ol Ihe donaliun. url8ss performance conartions rgquire d81gffal ol thè amount. In¢ome tsx recoverable in coiatloii to d¢Jndllvn) rvc¥lYv¢ una8r Glft Ahg or ae•as ol ctsvenanl is re¢￿gnis•d at the lime of the donation. G￿rrnrnent grants ar• recognisgd in profil or loss on a systemat￿ basis ovef th8 p•rlods in whicl) tho eompany r•cognis•s as o¥p•n5es relate(J i))Sts ￿r whKh the grants are Iniended to compensat8. 1.5 txpenuiture Expenditure is re-ognised in Ihe stslernent ol financial actwities on an accru81 basis as 8 liability is incurrod. -dos any VAT which can noi be fully r8cover8d. Costs of gènerat",ng funds compds8 the costs associaled with atlracting vdunlary iftcome. CnankaDle exp¢nd5ture GomprtS85 those costs In￿rred by the chanty In the dèlivery of its a¢b'vili8s and gervices ior its J￿ne71¢13￿8s. Goverian¢e cnss indurJ8 those costs assoclatèd wth mèèting th8 constitutional and stalutory ￿quIreM1)nts ol Ine Gnarity. ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accoijntlng polici•• Icontlnu•dl 1.6 T..ngiI)Ip. ftx•l ¥grets r.gih!e fi¥8¢ 25sets are inittally ry8asure(l ai cost and subsoquenlly M8aSU￿ at eost nei ol d8pracialion ¥no any Impaifmoni 1055es. Lepreciatio.I Iq reuGp,Ised so as lo writè off the c4)st or valuation of as8et8 tesÉ thèlr residual values over thèir us8fv1 lives on th& lollowing basog-. Fraeboie lana and bu1￿1￿gS Offic8 &quiom8nt 2% p8r 4nnum 8tr0i9hl line 20% per annum rgducing balan 20Yo per annum reducing balance 20% Pef annum reilucing balance gs Lomputef equinment he g8iD or los% xrising on thg disposal ofgn agEoI is d¢ternin•d a# tha drf•r•rv t)&fvffjtrn the 9818 proceed$ C the eArtying ￿a&￿è ol Ine asset. and 15 rocogni$ed in tha atat8m&nt of finanaal •¢tsvilies. .mpairm•nt al frix•d as••ts Ai Bar.h r8pf>rting end oat•. the charily rev1w￿ tho earrying amounts ol its tangible asststs tu dglermlne wh8lh•r Ihere 15 Any indication that thos¢ asset5 have suffered an Impaim&nt loss. If any Such Indi¢alion •AlSt& IliE timouni of ine ass8t 1$ e51imgled in order to deiefmine tha exlent ol Ihe imp8irm8nt 1.6 vd¥h ar,d catyh equiknal*iil8 albh A'lo ca>li L'4LI Idleiia cash Sn hand. deposits h•ld •1 call wtth banks and olhgr short-18rn1 Ilquld inwestinèni¥ will ur1r￿Inal maturili¥s of three n￿nIfts or léss. 1.9 Flnanclal In$trum•nts charity h¢S tslected to apply th? provisions of Section 11 'Basic Financ￿1 Insirtsm&nt8' and Saction 12 'Oinor Pin•nciRI In8irumèn16 Issues, o( FRS 102 to all of rts fir￿¢￿1 Instrument¥. p iianeiai In$trum&n:5 a￿ recognised in th• chartvs balaneg sh801 whon the tharty bo¢ome8 party lo the coilraetual provigions ol thè inslrumtrnt. 1.10 Employ•e boiièfits I he cost Ol ar, ce+v•*J. ) unu58d holiday enb'Uern¢nl ￿ reCogn￿d in the penod in wh￿h the efflployee's Services are T¢i.[iii'.aiion Oriiefiis ale feuogn15ea Imme(Jialely as an expense wh8n the ch8nty is demonglrably committed o iernrif.3te Ihe employment of an ernployge or lo piovth iemiinatson benefits. 1.11 Rètlrgmeni b¢.')ofil$ Iritr.i-Is lo dofinpJ tonlributron rèt¢r8rngnt bèngfft scham8È ¥rg chargèd a# an expensè as they fo11 due. ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and 1È9acies Unr•strtctgd funds Total Unr•stric¢ed Restrlct•d fund¥ funds Total 2024 2024 2023 2023 2023 Donaiion5 and qifts O;M&i general gdants 173.983 39.144 296.939 26.47S 323.414 39,144 213,127 213,12T 296.9J9 26,475 323,414 Oon•tlons and alft¥ General donat&ons inauding grft aid Armen1an stree:. 18Stival Armenian Churcn Youltt Organisation .qpèci81 ev•nls and projects Gdgsl Clorgy 173.983 173.983 253.179 28.043 253.179 28,043 12,375 14,100 12,375 14,100 2.917 12,800 2.917 Oth 12,800 112.8001 39,144 39,144 12.800 ?12 127 213.127 2Q6.03g 26.475 323.414 Ch4rltabl• •¢tivltl•• 2024 2023 Choritablo rènial incom• 2,000 Oth•r tradlng a¢tiviti•s Unr•strlct•d UnrKtrl¢t•d fund• funds 2024 2023 Snop income New51ett6r 1861 36.000 21.732 Olher trading aLiivitses 21,732 35,914 ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Inv•Élm•nt$ UnroBtrict¢d Unrestrlct&d funds funds 2024 2023 Interest r¢coivab+• 758 252 'haritabl• aetlvitio9 2024 2023 Depreciaiion ana Impairm•nl M1s5ion parish outreach Priiii8ie's otfice roni & axpenses Arn8nian Church Youth Org8nisation ¢ruFnenical artivitreg ')ec ai tlV811l% proi8ets Armanian Street f*stival •xpanse8 Q171uulrii 8rr.pqqnrl?s Repairs and mairylenance NfiwslfvllAr ieiephoiie 8n¢, Inlernel Iqsur8ncf* 88iik -haro(*9 Sundry expcnse) >iiliiin4, postag• ano stabonery 36.341 31,151 50,334 29,769 1,237 26.506 37.529 407 2,202 6.818 16,74fj 1,154 5,678 20,846 120 23.767 240 3,716 9,733 337 2,836 4,601 2,347 3,201 308 7.186 174,951 186.900 Sharg ol gov8ril8nce Gosis Is•e nole Tl 22.271 18,259 197,222 205,159 10- ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support CO8t* Support Governanc• costs osts 2024 2023 L¥bal prGie83101781 IndeperTd8nt examiner f••s 8 JO&A&fJpin9 lees 13.097 2,574 6.600 13,097 2,574 6,600 13,492 4,767 22.271 22.271 18,259 Analygad b•￿1>An ..iarilablg 8¢1'wili•S 22,271 22,271 18.259 Trusta•• hlgne of the Ir., J%Tees lor any ¢érs¢)ns connoclsd wilh Ihoml r•eow•d any f•munor8tion or b•nefits irom th• Iiaiily auring year. Fmploy••• The overag8 4mtsfbthly number of efflpbY￿ durfn9 year was. 2024 2023 Numb•r P4umb•r Admiriislraliv• staff Employm•nt costs 2024 2023 Wages and Salaries Qlfiei pen5I0P, ,'sis 35.52S 816 49.790 36.341 50,334 Thern wèr8 no ern￿OYeeS whose ann[￿1 T•muneralK>n was Ir￿8 than £60.000. 10 Idxaiion The charity 1$ exempt from lax on income and gains fallin9 Within se¢knon 505 of the Tax•s Act 1988 or se￿10n ?52 01 the T8xa&lOD ol Chargeable GairtsAct 1992 to the èxtent that these a￿ applied to its ch8rilable objècts. 11 ARMENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangibl• fixad agsets Fr•whold Office Flxtur•s and Comput•r land and •qulpm•nt flttlngs •qulpm•nt building• Total Cost ,or,1202J Additior18 1,395,709 48.530 245 8.877 3.265 1,822 1,738 1.406,653 53.533 At 31 March 2024 1.444 239 245 12.142 1,460.186 Doprtseimtion arid iriipairmgnl Al 1 April 2023 D?pre￿a110n charged in tne y•&r 31,688 28,865 119 25 1,413 429 35,218 31.151 1.812 Al 31 Marth 2024 60.573 3,810 1.842 66.369 Carrying 3rn0unt 111 March 2024 1.383.686 8,332 1,718 1.393,817 At 31 March 2023 1,364,021 126 6.879 409 1.371,435 Fre&n' Jlri land èn4 buildings wilh a carying ap)ouThr of t1.383.666 12023 - £1.364.0211 have been pJ¢dgod to 5Ccur￿ t￿ri()Vil[l4$ of the charity. Th8 charily Is not allow¢d io plodg• thgse assets #s security for other nrrnwinos or Icj ￿ell Ih•m lo anoth•r •ntify in pgrpoluity 12 Dobtor# 2024 rnounts follliiy du• wlthln one y•&r: 2023 Other.aeL)tors . rep8yments and accrL￿d Incom• 1,427 4.588 S.166 474 5.993 5,640 13 i o•n5 and overdr•ft8 2024 2023 Bank loans 920,000 Payable wthin onè year Payable after oi'.e y•ar 480.000 440,000 .n itte prior yei. Tli g long Igim loans We￿ ge￿red over thè tr8èhold property. In March 2024 li was agreed to r.onvert the loan Inlo a grant which IS recognisable a6 Inlw￿ in line wth th8 uselul economic life of the rreenoia propen4} Tne grant amounls which hava yet to be recognised as income are held within deferred InTroome (see 161. 12- ARllllENIAN CHURCH TRUST (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 fr•dttorn.' amounts f4lllng due withln ong ygar 2024 2023 tyank loan5 Oiher taxation And social s￿11ty lJel?r."od In¢oin8 Trade ireditor$ OLhor cr8 {862.4561 (440.OL￿) 1.371.435 1374.9041 1440.0001 23.803 z?,ooJ Long temi liaÈil,118S 1862.4561 571.123 23.803 594.926 532.728 23.803 556.531 19 R8l•t•d party tr2nsaetion$ ere were no dks¢lo5able related party transacn.ons dunng Ine year12023- none).