**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.
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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 bel*ve 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 **|
Page 9
## **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**|
**Page 11**