REGISTERED CHARITY NUMBER: 1157458
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2020
for
The Orthodox Church of Saint Silouan
McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
The Orthodox Church of Saint Silouan
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2020
The trustees present their report with the financial statements of the charity for the year ended 31 October 2020. 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 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The purpose of the charity
The purpose of the Charity, as stated in the governing document, is to advance and promote the Christian Faith in accordance with the teachings and practices of the Orthodox Church.
Objectives
The main objective of the Charity remains to ensure that the it purchases the current place of worship situated on 78-80 Harewood Road, Preston, Lancashire. This should safeguard the continuity of spiritual service, emotional care and support for those in need in our Community.
Significant activities
The Charity seeks to provide opportunities for people to contribute to the objectives, and offer the church's facilities for worship and the community hall for educational, cultural and social activities.
The significant activities are:
-
To provide and maintain the ministerial services of clergy;
-
To hold religious, as well as self-improvements, meetings and conferences;
-
To help the needy;
-
To provide spiritual, social, cultural and educational activities;
-
To teach and promote the learning of languages: English and Romanian;
To this end, the Charity has organised: Bible study, cultural lectures, refreshments after the main church services, a few gatherings over the course of the year to bring the community together as well as supporting the church's youth with their activities.
ACHIEVEMENT AND PERFORMANCE
Since March 2020, The Charity and its volunteers have worked hard to keep in touch with the community online and in a safe manner throughout the lockdown restrictions.
Regular services of the Holy Liturgy were held every Sunday and on special Holy Days, when possible. Services have also been held on Wednesdays and Fridays in the form of matins, vespers, special prayers for those affected by illness and the pandemic, and prayers calling on the Intercession of the Mother of God and all the Saints.
As well as regular services, we enable our community to celebrate and thank God at various important events of their lives. The Church has held Christenings, weddings and funerals this year, by observing traditional Christian sacraments, but also the Government guidelines for the pandemic.
The Charity has successfully applied and delivered various community projects by being a member of the Fareshare, Neighbourly and Foodshare programs.
The financial results have been, in part, helped by Preston Council through the lockdown restriction grants. This meant that we have managed to continue the services and activities insofar as possible this financial year.
Page 1
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2020
FUTURE PROJECTS
The Charity continues to aspire to:
-
Increase the number of Parishioners and Volunteers;
-
Purchase the 78-80 Harewood Rd building;
-
Obtain grants to improve the community area of the building;
-
Continue being an active grass roots Charity within the Community.
The Trustees wish to express their gratitude for all the help and support given by the Council members and volunteers, who have worked energetically to support the Charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk Management
To minimise risks in the current pandemic situation, the trustees have updated the following policies: Health and Safety, Fire, Safegurading, Equality, GDPR.
The three Trustees are working closely together to ensure the Charity's financial controls are followed through.
The roles of the Trustees and the ten members of the Committee are clearly defined, and regular and informal meetings take place. The charity is adequately insured and processes and procedures are reviewed regularly.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1157458
Principal address
Preston Emmanuel Vicarage 2 Cornthwaite Road Preston Lancashire PR2 3DA
Trustees
Reverend C Badin Dr N Murse Mrs A Lord
Independent Examiner
McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
Approved by order of the board of trustees on 23 August 2021 and signed on its behalf by:
Reverend C Badin - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Orthodox Church of Saint Silouan
Independent examiner's report to the trustees of The Orthodox Church of Saint Silouan
I report to the charity trustees on my examination of the accounts of The Orthodox Church of Saint Silouan (the Trust) for the year ended 31 October 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Martin Garry BA (Hons), FCA ICAEW McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
23 August 2021
Page 3
The Orthodox Church of Saint Silouan
Statement of Financial Activities for the Year Ended 31 October 2020
| 31.10.20 | 31.10.19 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 42,244 | 500 | 42,744 | 37,839 | ||
| Other trading activities | 2 | 5,987 | - | 5,987 | 8,885 | |
| Total | 48,231 | 500 | 48,731 | 46,724 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 6,185 | - | 6,185 | 9,446 | ||
| Other | 15,910 | 500 | 16,410 | 22,341 | ||
| Total | 22,095 | 500 | 22,595 | 31,787 | ||
| NET INCOME | 26,136 | - | 26,136 | 14,937 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 44,508 | - | 44,508 | 29,571 | ||
| TOTAL FUNDS CARRIED FORWARD | 70,644 | - | 70,644 | 44,508 |
The notes form part of these financial statements
Page 4
The Orthodox Church of Saint Silouan
Statement of Financial Position
31 October 2020
| 31.10.20 | 31.10.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 4 | 2,500 | - | 2,500 | 8,331 |
| CURRENT ASSETS | |||||
| Stocks | 5 | 4,100 | - | 4,100 | 7,800 |
| Debtors | 6 | 5,883 | - | 5,883 | 5,105 |
| Cash at bank and in hand | 70,051 | - | 70,051 | 42,219 | |
| 80,034 | - | 80,034 | 55,124 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 7 | (11,890) | - | (11,890) | (17,423) |
| NET CURRENT ASSETS | 68,144 | - | 68,144 | 37,701 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 70,644 | - | 70,644 | 46,032 | |
| CREDITORS | |||||
| Amounts falling due after more than one year | 8 | - | - | - | (1,524) |
| NET ASSETS | 70,644 | - | 70,644 | 44,508 | |
| FUNDS | 11 | ||||
| Unrestricted funds | 70,644 | 44,508 | |||
| TOTAL FUNDS | 70,644 | 44,508 |
The financial statements were approved by the Board of Trustees and authorised for issue on 23 August 2021 and were signed on its behalf by:
C Badin - Trustee
The notes form part of these financial statements
Page 5
The Orthodox Church of Saint Silouan
Notes to the Financial Statements for the Year Ended 31 October 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Motor vehicles - 20% on cost Computer equipment - 25% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
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.
Page 6
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
2. OTHER TRADING ACTIVITIES
31.10.20 31.10.19 £ £ Shop income 5,987 8,885
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
During the course of the year the trustees have been reimbursed for expenses incurred whilst performing duties for the charity.
4. TANGIBLE FIXED ASSETS
| COST At 1 November 2019 Additions At 31 October 2020 DEPRECIATION At 1 November 2019 Charge for year At 31 October 2020 NET BOOK VALUE At 31 October 2020 At 31 October 2019 STOCKS Finished goods |
Fixtures and fittings £ 5,653 1,773 7,426 3,655 1,494 5,149 2,277 1,998 |
Motor Computer vehicles equipment Totals £ £ £ 21,156 7,519 34,328 - - 1,773 21,156 7,519 36,101 16,925 5,417 25,997 4,231 1,879 7,604 21,156 7,296 33,601 - 223 2,500 4,231 2,102 8,331 31.10.20 31.10.19 £ £ 4,100 7,800 |
Totals £ 34,328 1,773 |
|---|---|---|---|
| 36,101 | |||
| 25,997 7,604 |
|||
| 33,601 | |||
| 2,500 | |||
| 8,331 |
5. STOCKS
Finished goods
Page 7
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Other debtors | 3,977 | 4,107 | |
| Prepayments | 1,906 | 998 | |
| 5,883 | 5,105 | ||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Hire purchase (see note 9) | 1,524 | 2,285 | |
| Trade creditors | 9,276 | 12,888 | |
| Other creditors | 1,090 | 2,250 | |
| 11,890 | 17,423 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Hire purchase (see note 9) | - | 1,524 | |
| 9. | LEASING AGREEMENTS | ||
| Minimum lease payments under hire purchase fall due as follows: | |||
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Net obligations repayable: | |||
| Within one year | 1,524 | 2,285 | |
| Between one and five years | - | 1,524 | |
| 1,524 | 3,809 | ||
| 10. | SECURED DEBTS | ||
| The following secured debts are included within creditors: | |||
| 31.10.20 | 31.10.19 | ||
| £ | £ | ||
| Hire purchase contracts | 1,524 | 3,809 |
Page 8
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.11.19 in funds 31.10.20 £ £ £ 44,508 26,136 70,644 44,508 26,136 70,644 Incoming Resources Movement resources expended in funds £ £ £ 48,231 (22,095) 26,136 500 (500) - 48,731 (22,595) 26,136 Net At movement At 1.11.18 in funds 31.10.19 £ £ £ 29,571 14,937 44,508 29,571 14,937 44,508 as follows: Incoming Resources Movement resources expended in funds £ £ £ 46,724 (31,787) 14,937 46,724 (31,787) 14,937 |
Net At movement At 1.11.19 in funds 31.10.20 £ £ £ 44,508 26,136 70,644 44,508 26,136 70,644 Incoming Resources Movement resources expended in funds £ £ £ 48,231 (22,095) 26,136 500 (500) - 48,731 (22,595) 26,136 Net At movement At 1.11.18 in funds 31.10.19 £ £ £ 29,571 14,937 44,508 29,571 14,937 44,508 as follows: Incoming Resources Movement resources expended in funds £ £ £ 46,724 (31,787) 14,937 46,724 (31,787) 14,937 |
|---|---|---|
| 14,937 |
Page 9
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1.11.18 | in funds | 31.10.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 29,571 | 41,073 | 70,644 |
| TOTAL FUNDS | 29,571 | 41,073 | 70,644 |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in t | ||
| above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 94,955 | (53,882) | 41,073 |
| Restricted funds | |||
| Restricted funds | 500 | (500) | - |
| TOTAL FUNDS | 95,455 | (54,382) | 41,073 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2020.
Page 10
The Orthodox Church of Saint Silouan
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and other income | 32,244 | 37,839 |
| Grants | 10,500 | - |
| 42,744 | 37,839 | |
| Other trading activities | ||
| Shop income | 5,987 | 8,885 |
| Total incoming resources | 48,731 | 46,724 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 5,636 | 6,576 |
| Events | 549 | 2,870 |
| 6,185 | 9,446 | |
| Other | ||
| Motor and travel expenses | 2,670 | 1,236 |
| Hire purchase | 572 | 572 |
| 3,242 | 1,808 | |
| Support costs | ||
| Management | ||
| Rates and water | 33 | 111 |
| Rent | 2,400 | 2,400 |
| Light and heat | 60 | 5,487 |
| Telephone | 627 | 690 |
| Postage and stationery | - | 233 |
| Repairs and renewals | 549 | 2,396 |
| Computer expenses | 27 | 135 |
| Fixtures and fittings | 1,494 | 1,051 |
| Motor vehicles | 4,231 | 4,231 |
| Computer equipment | 1,880 | 1,880 |
| 11,301 | 18,614 | |
| Finance | ||
| Insurance | 742 | 845 |
| Bank charges | 15 | 24 |
| 757 | 869 | |
| Governance costs | ||
| Accountancy and legal fees | 1,110 | 1,050 |
This page does not form part of the statutory financial statements
Page 11
The Orthodox Church of Saint Silouan
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Total resources expended | 22,595 | 31,787 |
| Net income | 26,136 | 14,937 |
This page does not form part of the statutory financial statements
Page 12