REGISTERED CHARITY NUMBER: 1145271
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023 for St. Stephen’s Indian Orthodox Church, Birmingham
Thomas David Accountancy & Taxation 557 Filton Avenue Bristol BS7 0QH
St.Stephen's Indian Orthodox Church , Birmingham Contents of the Financial Statements for the Year Ended 31 March 2023
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Report of the Trustees 1 to 2
Independent Examiner’s Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 8
Detailed Statement of Financial Activities 9 to 11
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St.Stephen's Indian Orthodox Church , Birmingham
Report of the Trustees For the year ended 31[st] March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice 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 2015).
OBJECTIVES AND ACTIVITIES
Objectives and Aims
Objective of the Church is to promote the Indian Orthodox Christian faith.
The trustees have considered a charity commission’s guidance on public benefit including the guidance ‘public benefit running charity
Significant activities
Feast of St George the Patron Saint of England was celebrated on 8th May with Holy Qurbana,Rasa and Nercha vilambu.
A one-day get together and barbeque at Waseley Hills, Rubery was arranged by the coordinators Mr Sony Mathew and Mr Niju Cherian.
Nativity of Virgin Mary was celebrated with 8 day lent for the first time in the church. Vicar arranged various Priests to lead the evening prayer and devotional speech through Zoom on all evenings of the lent. On September 7th evening, with the help of MMVS a lot of members attended the evening prayers and devotional speech and took part in Holy Qurbana.
Onam celebration with traditional Ona Sadya and Cultural activities and tug of war on the 25th of September 2022.
OVBS was conducted on 28th 29th and 30th October 2022. In that Sunday School played a vital role in creating social responsibility in children, arranging a food bank collection. Church donated a lot of food items to the food bank.
A sum of £1665 was raised by MMVS through the food festival for church (The feast of Parumala thirumeni) on 13th of November 2022.
On the 21/11/2022, an introductory meeting was held via Zoom, 33 families attended the meeting with newly appointed Thirumeni.
On 10th,11th and 17th December 2022 Church raised £4359 through Christmas Carol.
The Main Annual feast was celebrated on 20th, 21st and 22nd of January 2023. on the first day they had an online meditation and a devotional speech, Second day they welcomed Diocesan Metropolitan for the very first time to Church. On the final day tri monthly parish bulletin named ‘The Crown’ was inaugurated. through the Harvest Festival and Perunal
On March 14, 2023, Mid lent Holy Qurbana was there and on 31-03-2023, online meditation & Devotional Speech was there. During the Passion Week everyday evening prayer and other services performed.
Church hosted the diocesan assembly on the 25th March 2023.
FINANCIAL REVIEW
Reserves
The Church reserves are held to help its current and future activities including maintenance of the church building The retained surplus of parish as on 31/03/2023 was £4,21,959 (£3,63,263 on 31/03/2022)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, constitution adopted on 13 September 2009 and as amended on 31 December 2011 and constitutes an unincorporated charity.
Recruitment and appointment of trustees
The vicar is appointed by the diocesan Bishop and his term will until further order from the Diocesan Bishop. The Secretary , Treasurer and other committee members are elected at the annual general body meeting of the charity.
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St.Stephen's Indian Orthodox Church , Birmingham
Statement of Financial Activities
| Donations and legacies Total CONTINUING OPERATIONS Investment Income INCOME AND ENDOWMENTS FROM Charitable activities Church Running Costs Other Total NET INCOME EXPENDITURE ON* |
Notes Unrestricted funds £ 2 108,062 3 8,544 116,606 (58,271) - (58,271) 58,335 for the Year Ended 31 March 2023 |
Notes Unrestricted funds £ 2 108,062 3 8,544 116,606 (58,271) - (58,271) 58,335 for the Year Ended 31 March 2023 |
Restricted fund £ - - - - |
2023 Total funds £ 108,062 8,544 116,606 (58,271) - (58,271) 58,335 |
2022 Total funds £ 72,866 7,704 |
|---|---|---|---|---|---|
| Notes 2 3 |
|||||
| 80,570 | |||||
| (61,153) - |
|||||
| (61,153) | |||||
| 19,417 | |||||
All income and expenditure have arisen from continuing activities.
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11.1 ItDX6) 1214J4n 01 FAr
St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements
For the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost conversion, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
St Stephen’s Indian Orthodox Church, Birmingham meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes(s).
Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land & Building : Not provided (Trustees have carried out a full impairment review in accordance with FRS 102 and find out that the estimated residual value is not materially different from it’s carrying value in the Balance Sheet) Fixtures and fittings : 15% on reducing balance basis Computer equipment : 33.33% on reducing balance basis
Taxation
The charity is exempt from tax on its charitable activities.
Funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Secured Loan
Bank loan with HSBC bank is secured against a first legal charge over the free hold property at 427 Brays Road, Birmingham,B26 2RR.
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St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
2. Income From Donations & Legacies
| 2. Income From Donations & Legacies |
|||||
|---|---|---|---|---|---|
| 3. 4. Donations Received INVESTMENT INCOME Bank Interest Rental Income Total At 31 March 2023 DEPRECIATION At 1 April 2022 TANGIBLE FIXED ASSETS COST At 1 April 2022 Additions Disposal At 31 March 2023 At 31 March 2022 Charge for year Eliminated on Disposal At 31 March 2023 NET BOOK VALUE |
Land & Building £ 556,915 - - 556,915 - - - - 556,915 556,915 |
Fixtures and fittings £ 12,849 564 - 13,413 4,708 1,306 - 6,014 7,399 8,141 |
Unrestricted Funds 108,062 Computer equipment £ 348 - - 348 342 2 - 344 4 6 |
2023 £ 108,062 2023 £ 144 8,400 8,544 |
2022 £ 72,866 |
| 2022 £ 4 7,700 |
|||||
| 7,704 | |||||
| Totals £ 570,112 564 - |
|||||
| 570,676 | |||||
| 5,050 1,308 - |
|||||
| 6,358 | |||||
| 564,318 | |||||
| 565,062 |
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St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|
| Savings Account Total Gift Aid Tax Receivable Debtors/Prepayments CASH AT BANK AND IN HAND Cash in Hand Current Account |
General Fund 39 9,892 47,006 56,937 |
Restricted Fund - - - - |
2023 £ 17,033 2,368 19,401 2023 £ 39 9,892 47,006 56,937 |
2022 £ 10,213 2,729 |
| 12,942 | ||||
| 2022 £ 64 16,971 - 38,067 |
||||
| 21,160 |
6. CASH AT BANK AND IN HAND
| 7. CREDITORS Creditors & Accruals Unsecured Loans from members Bank Loan (Secured against land building) Total |
2023 £ 1,424 - 8,842 10,266 |
2022 £ 1,424 8,000 8,436 |
|---|---|---|
| 17,860 |
8. MOVEMENT IN FUNDS
| Funds Unrestricted funds Vicar Support Contribution General fund Charity Fund Total TOTAL FUNDS General fund Charity Fund Vicar Support Contribution |
At 01.04.22 £ 360,373 1,850 1,040 363,263 363,263 |
Net Movement In Funds £ 59,175 (940) 100 58,335 58,335 Incoming Resources £ 116,196 310 100 |
Transfers between Funds £ - - - - - Resources Expended £ 57,021 1,250 |
At 31.03.23 £ 419,548 910 1,140 |
|---|---|---|---|---|
| 421,598 | ||||
| 421,598 | ||||
| Movement in Funds £ 59,175 (940) 100 |
||||
| 116,606 | 58,271 | 58,335 |
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St.Stephen's Indian Orthodox Church , Birmingham
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Total Investment Income (B) Birthday Donations Catholicate Day Charity Christmas Collection Church Building Fund Church Building Fund- Arrears I. INCOME AND ENDOWMENTS Donations and legacies Gifty Aid HMRC Harvest Festival Hall Hire Holy week Donations Madbaha Decorations Church Consecration Diocesan Collection Donations- Marriage Donations Donations - Refreshments Favours Received Water Charges Reimbursed Gas & Electricity - Nursery Re-Imbursement Perunal Nercha Seminary day Subscriptions Subscriptions Arrears Sunday School Diocesan GB Meeting Martha Mariam Samajam Offertory Onam One Day Trip OVBS Total Donations & Legacies (A) Bank Interest Rental Income Total Incoming Resources (A+B) Vicar Farewell Vicar Support Wedding Anniversary Donations St. George feast and Ettu nombe Youth Frosty Feet |
2023 £ 725 545 310 4,359 16,863 3,145 - 1,100 250 482 8,450 400 8,476 263 19,887 1,956 1,695 2,230 497 1,665 11,324 2,095 885 1,770 1,845 110 12,915 470 770 1,605 - 100 305 570 - 108,062 144 8,400 8,544 116,606 |
2022 £ 660 440 900 305 19,195 - 9,802 920 - 1,012 100 - 5,217 - 10,354 2,045 - 656 700 1,664 5,414 - - - - - 9,605 - 220 - 875 2,040 266 - 476 |
|---|---|---|
| 72,866 4 7,700 |
||
| 7,704 | ||
| 80,570 |
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St.Stephen's Indian Orthodox Church , Birmingham
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| II.EXPENDITURE Charitable Activities Holy Week OVBS Sunday School Fire alarm & Emergency Light Youth Movement Vicar Allowances Visiting Bishop & Priests website Sundry Purchases Qurbana Materials Vicar Sent Off Vicar Support Momentos & Gifts Diocese Meetings One day trip Marriage Licence Refreshments Printting, Stationery & Postage Bank loan Interest Onam Festival Carry Forward Expenditure Madbaha Decoration Church Consecration Paypal Fees Martha Mariam Samajam Charity Repair & Maintenance Diocese Contribution Bank Charges/ Arrangements Fees |
2023 £ 7,326 500 1,233 1,535 664 1,752 - 328 1,938 1,069 152 11,868 842 - 252 238 - - - - - 100 1,250 1,371 920 149 10,504 2,129 46,121 |
2022 £ 4,750 1,250 1,031 - 548 - 876 - - - - 2,090 307 79 437 150 1,001 1,000 2,194 11,903 28 1,270 500 10,203 158 45 10,910 - 50,730 |
|---|---|---|
II. EXPENDITURE
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St.Stephen's Indian Orthodox Church , Birmingham
| Brought Forward Expenditure Net income Water Charges Lucky Dip Miscellaneous Depreciation Total Resources expended Accountancy Card Machine Commission Christmas Insurance Gas & Electricity Charges |
Detailed Statement of Financial Activities- Continued for the Year Ended 31 March 2023 |
2023 £ 46,121 540 107 308 1,843 8,476 (471) - 39 1,308 58,271 |
2022 £ 50,730 540 - - 1,726 5,216 734 884 - 1,323 |
|---|---|---|---|
| 61,153 | |||
| 58,335 | 19,417 |
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