REGISTERED CHARITY NUMBER: 1145271
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for St. Stephen’s Indian Orthodox Church, Birmingham
Thomas David Accountancy & Taxation Limited 557 Filton Avenue Bristol BS7 0QH
St.Stephen's Indian Orthodox Church , Birmingham Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |
|---|---|
| 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 |
St.Stephen's Indian Orthodox Church , Birmingham Report of the Trustees For the year ended 31[st] March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 (PB2).’
Significant activities
The feast of Ascension was celebrated in our Church on 8th May 2024.
Feast of St George the Patron Saint of England was celebrated on 12th May 2024 with Holy Qurbana,Rasa and Nercha vilambu.
The feast of St Thomas was Celebrated in our church on 7th July 2024 with Holy Qurbana. On the feast day Neercha was provided. The feast of assumption of St.Mary was celebrated in our church on 14th August 2024 starting with evening prayer followed by Holy Qurbana.
The Church honoured the nativity of St. Mary with an eight-day lent. Every evening throughout Lent, the vicar set up different priests to lead the devotional address and evening prayer via Zoom. Many members participated in Holy Qurbana and attended the evening prayers and devotional talk on September 8th, thanks to the assistance of MMVS.
On September 15, 2024, the church celebrated Onam after the Holy Qurbana. The organisers, Mr.Shibu Thomas and Mr. Lisson Thomas and by Mr.Verghese.K.Mathai were successful in creating nostalgia in our members through various traditional programms like Ona sadya, activities and games.
OVBS was conducted on 1st, 2nd and 3rd of November2024. 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.
Under the direction of OCYM, Christmas carols were performed on December 7th, 8th, 14th, and 15th December 2024. by visiting families with Christmas greetings.
On 29th of December 2024, a family get together called Agape 2024 was organised at our Church. It was organised after Holy Qurbana.
On January 5, 9, 10,11 and 12, 2025, the church held its main annual feast. Various priests delivered devotional speeches and led meditation during the first four days. Our Diocesan Metropolitan H.G. Abraham Mar Stephanos served as the chief celebrant of Tri-Mass on the last day. On this day, the Diocesan Metropolitan extended a special invitation to the pilgrimage rider and the vicar of St Margaret Olton Church in Solihull to visit the church.
The church held mediations, special services, Holy confession, and Holy Qurbana to commemorate Great Lent and Passion Week.
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 31/03/2025 was £511,531 (£484,586 on 31/03/2024)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, constitution adopted on 13 September 2009 as amended on 31 December 2011 and as amended on 11 February 2024 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.
Overpayment decision of church
When the church entered in to a mortgage,interest rates were historically low, but the world changed dramatically after the and rates rose to levels not seen in decades.Rather than remain bound to a long-term debt under these conditions, the church chose to act wisely by reducing the mortgage through significant overpayments. This decision shortened the term and
saved substantial interest,ensuring that more of our resources serve ministry rather than lenders.Scripture reminds us in Proverbs 22:7 that "the borrower is slave to the lender," and by taking these steps, we have moved closer to financial freedom and faithful stewardship. Doing nothing would have left us exposed to rising costs and prolonged debt,but through prayerful planning and decisive action,we have strenthened the church's future.
Ngm• ofcharfty 1145271 Shelthin Birminghan 826 2RR Tnmtees . BOMI JoseFt è.JabyChokky• N*&Teena Jo Mrs. Al1rJoJ Mr.JobyJpseph B57 (rf]H aJ aDa< Mr. Praveon rtfom5 PaBÈ 2
•nt Exarnin rttotheTru SL St hen's Indian Orthodox Church Binnln ham I report on the accounts of the charity ft)r the y8ar 31 March 2025. compris8 the Statement of Financial Actiwts8s, the Statement ol Finanual Position an%J the rEted notes. R•sp•ctiv• respgnslblliti•s of trustees and •xaminer The charity'5 tnjstees a responsible for the ¥eparation of Ihe account5. Thg ctsntys trustees ihat an audit ts not Uired for tri5 year (under Section 144121 of the Charib"8s Acl 2011 ltre 2011 Actll and thai an ind8p8ndent examinats.on is required. is my responsbility to". 8xamin8 Ihe aCCnts L5nd8r Sects'on 145 01 2011 Act to fdlow the procedurns laid dowTr in the G8neral Direcb"ons givèn by thg Charity COMMIOn (under Séctsorn 14515llbl of the 2011 A¢tl", and to State whether part¢ukqr matters have eom? to my attenDon. Basls of thè Independent examlnerf¥ report My examinatiofi vds rried tyjt in aC(ance wilh the General DIrelOn$ giV8n by Charity CLvnmission. A¢) 8xamination indué8s a review ol the a¢cwnting records kept by the chanty and a ¢£mparison of the atcounts [e$ted ith those cOrdS. r( aL80 includes onsiderakn.on ol any unusual Items or disclosures in the accounls, and seeking explanabons frorn you as tnjstees coneernirsg any such matters. The procedur8s undertaken do not provide all tre 8vidence that V+YJJkJ requiwd in an aLtt, and consequently no opinion is given as lo whether the accounts psent a'lnje and fairview. and ihe report is Smited to those matters 581 out in the statèm8ots below. Independent 8xamineV$ $tatem•rrt In connection wlh rny examinaiion, rTO matter has com• to rny a#ti. hich gives mg reasonab cause to belve that, in any material respect, th8 rgquirernents to kggp accounllng rewds in COrdance Section 130 of lh8 2011 Act: ar*J to prepa accounts which accord wlh Ihe acc4)untsng rBgyds and to comply the ac4))unb"ng requirements of thg 2011 Act have not been met., or 121 to which, in my opinron, attention shthJld be drdwn in cffder to enab a rYoper undwstanding ofthe accounts io be aChd. Mr Thomas rfavid FCCA Thomas David AcccwJntancy & Taxation Limited 557 Fitton Avenua Bristol BS7 OQH Date '. Page 3
St.Stephen's Indian Orthodox Church , Birmingham
Statement of Financial Activities
for the Year Ended 31 March 2025
| Notes 2 3 Investment Income INCOME AND ENDOWMENTS FROM Donations and legacies Total CONTINUING OPERATIONS EXPENDITURE ON Charitable activities Church Running Costs Other Total NET INCOME* |
Unrestricted funds £ 139,351 11,196 150,547 (123,602) - (123,602) 26,945 |
Restricted fund £ - - - - - - - |
2025 Total funds £ 139,351 11,196 150,547 (123,602) - (123,602) 26,945 |
2024 Total funds £ 144,922 12,070 |
|---|---|---|---|---|
| 156,992 | ||||
| (94,004) - |
||||
| (94,004) | ||||
| 62,988 | ||||
All income and expenditure have arisen from continuing activities.
Page 4
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St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements
For the Year Ended 31 March 2025
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.
Page 6
St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
2. Income From Donations & Legacies
| 3. 4. At 31 March 2025 At 31 March 2024 Charge for year At 31 March 2025 NET BOOK VALUE DEPRECIATION At 1 April 2024 TANGIBLE FIXED ASSETS COST At 1 April 2024 Additions Disposal Donations Received INVESTMENT INCOME Bank Interest Rental Income Total At 31 March 2025 |
Land & Building £ 556,915 - - 556,915 - - - 556,915 556,915 |
Fixtures and fittings £ 24,231 4,161 - 28,392 8,747 2,947 11,693 16,699 15,484 |
Computer equipment £ 348 932 - 1,280 345 312 657 623 3 |
2025 £ 139,351 2025 £ 836 10,360 11,196 |
2024 £ 144,922 |
|---|---|---|---|---|---|
| 2024 £ 1,840 10,230 |
|||||
| 12,070 | |||||
| Totals £ 581,494 5,093 - |
|||||
| 586,587 | |||||
| 9,092 3,258 |
|||||
| 12,350 | |||||
| 574,237 | |||||
| 572,402 |
Page 7
St.Stephen's Indian Orthodox Church , Birmingham
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||||
|---|---|---|---|---|
| 6. 7. 8. Funds Unrestricted funds Total Total CREDITORS Creditors & Accruals Bank Loan (Secured against land building) Total TOTAL FUNDS MOVEMENT IN FUNDS General fund Charity Fund Clergy Support Contribution Gift Aid Tax Receivable Debtors/Prepayments CASH AT BANK AND IN HAND Cash in Hand Current Account # 71747827 Card Reader Fixed Deposit Account # 20999091 Fixed Deposit Account # 40999105 Savings Account # 81591762 Clergy Support Contribution General fund Charity Fund Bank Loan (Secured) CREDITORS: AMOUNT FALLING DUE AFTER ONE YEAR AMOUNT FALLING DUE WITHIN ONE YEAR |
General Fund 7 - 9,278 35,009 10,260 - 54,555 At 01.04.24 £ 481,536 1,100 1,950 484,586 484,586 |
Restricted Fund - - - - - - Net Movement In Funds £ 29,661 (2,716) 0 26,945 26,945 Incoming Resources £ 149,962 585 - 150,547 |
2025 £ 23,000 1,522 24,522 2025 £ 7 - 9,278 35,009 10,260 - 54,555 2025 £ 450 7,058 7,508 134,275 Transfers between Funds £ (1,616) 1,616 - - - Resources Expended £ 120,301 3,301 - 123,602 |
2024 £ 21,273 4,840 |
| 26,113 | ||||
| 2024 £ 711 20 10,875 23,992 33,749 25,567 |
||||
| 94,914 | ||||
| 2024 £ 450 9,241 |
||||
| 9,691 | ||||
| 199,152 | ||||
| At 31.03.25 £ 509,581 - 1,950.00 - |
||||
| 511,531 | ||||
| 511,531 | ||||
| Movement in Funds £ 29,661 (2,716) - |
||||
| 26,945 |
Page 8
St.Stephen's Indian Orthodox Church , Birmingham
Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
| for the Year Ended 31 March 2025 | |||
|---|---|---|---|
| 2025 £ |
2024 £ |
||
| Family Get Together Koinonia Amoss Cash Prize Souvenir Other Income Marthoman Sangamam Clergy Support Wedding Anniversary Donations St. George feast and Ettu nombe SS Bala Gala SS Talent Competition Sound System Donation Youth Fund Martha Mariam Vanitha Samajam Onam One Day Trip OVBS Outstanding utilities from Nursery Donations-Baptism Diocesan Day Collection Donations Water Charges Reimbursed Gas & Electricity - Nursery Re-Imbursement Catholicate Day Charity Christmas & Carol Church Building Fund Donations and legacies Subscriptions Sunday School I. INCOME AND ENDOWMENTS Donations - Refreshments Favours Received Gifty Aid HMRC Harvest Festival Catholicate Visit Holy week Donations Madbaha Donations Birthday Donations Offertory |
42,930 1,900 23,476 250 18,802 3,072 1,418 486 130 1,151 500 720 - - 4,208 1,163 600 - 1,390 10,626 1,230 4,515 595 230 - 585 702 1,718 5,206 1,290 1,522 2,489 - 3,227 - 2,100 970 75 75 |
40,867 2,550 21,690 200 19,918 2,056 1,150 475 4,035 155 292 2,310 4,000 3,190 1,750 1,720 669 4,210 3,776 1,485 4,765 310 790 1,370 340 795 1,660 15,714 548 1,150 150 230 600 - - - - |
|
| - | |||
| Total Donations & Legacies (A) Bank Interest Rental Income |
139,351 836 10,360 |
144,922 1,840 10,230 |
|
| Total Investment Income (B) Total Incoming Resources (A+B) |
11,196 150,547 |
12,070 **156,992 ** |
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St.Stephen's Indian Orthodox Church , Birmingham
| Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |
Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |
2025 £ |
2024 £ |
|
|---|---|---|---|---|
| II.EXPENDITURE Charitable Activities Catholicate Day Insurance SS Bala Gala SS Talent Competition Family Get - together Bank loan Interest Onam Festival Carry Forward Expenditure Seminary Day Martha Mariam Vanitha Samajam Charity Repair & Maintenance Diocesan Contribution Bank Charges/ Arrangements Fees Sundry Purchases Retire and replace of Custodian Perunnal Expense Refreshments Printting, Stationery & Postage Holy Week OVBS Sunday School Fire alarm & Emergency Light Youth Movement Website Domain Fee (2 Years) Sacramental Materials Clergy Support Christmas Mementos & Gifts One day trip Souvenir Koinonia Madbaha items Vicar Allowances Visiting Bishop & Priests |
15,087 2,100 1,887 9,815 419 769 10 2,515 774 417 970 1,300 452 8,795 - 2,611 1,394 2,535 - 4,909 2,893 9,780 2,893 380 2,664 3,301 795 100 1,640 785 1,350 338 766 12,076 96,522 |
13,465 1,301 1,779 8,458 45 584 24 2,792 648 55 - - - 3,019 1,500 2,791 1,698 4,860 619 4,745 1,895 2,610 2,176 437 2,837 150 985 200 1,100 - - 133 169 10,105 |
||
| 71,179 |
Page 10
St.Stephen's Indian Orthodox Church , Birmingham
| Brought Forward Expenditure Sangamam Choir AMOSS Gas & Electricity Charges Accountancy Net income Water Charges Miscellaneous Depreciation Catholicate Visit Total Resources expended St. George Feast & Ettu Nomb Zoom Subscription Hall Hire Support DBS Hall Hire - Nursery Utility Refund Kitchen Utensils Card Machine Commission |
Detailed Statement of Financial Activities- Continued for the Year Ended 31 March 2025 |
2025 £ 96,522 450 123 6,684 4,148 1,188 2,421 144 350 150 393 16 1,578 - 218 3,258 5,959 123,602 26,945 |
2024 £ 71,179 360 113 15,714 - 549 1,272.50 287.76 - - 170.00 32.00 540.00 956.23 96 2,734 - |
|---|---|---|---|
| 94,004 | |||
| 62,988 |
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