REGISTERED CHARITY NUMBER: 1157458
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2022
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 2022
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2022
The trustees present their report with the financial statements of the charity for the year ended 31 October 2022. 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 is to provide the much needed spiritual and emotional support to the Parishioners and the Community it serves.
Significant activities
The Charity offers 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;
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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
The Charity has purchased a 200-year long lease of 78-80 Harewood Road, Preston. This means that the Charity has an establish place where it conducts all activities.
Regular services of the Holy Liturgy were held every Sunday and on special Holy Days.
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 in their lives. The Church has held many Christenings, weddings and funerals this year.
The Charity has successfully applied and delivered various community projects by being a member of the Fareshare, Neighbourly and Foodshare programs.
We are pleased to have been able to carry out extensive improvements to the inside of the building, especially in time for the Easter celebrations.
The costs of the renovations have been in excess of £66,000, but they were deemed necessary for the full comfort of our Parishioners and the Community we serve.
We have decided to reflect the costs of the improvements over a 5 year period.
Over the next couple of years, we plan to carry out further improvements, primarily to the car park.
Page 1
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2022
FUTURE PROJECTS
The Charity continues to aspire to:
-
Increase the number of Parishioners and Volunteers;
-
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, the trustees have updated the following policies: Health and Safety, Fire, Safeguarding, 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 31 August 2023 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 2022.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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
McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
31 August 2023
Page 3
The Orthodox Church of Saint Silouan
Statement of Financial Activities for the Year Ended 31 October 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Total EXPENDITURE ON Raising funds Other Total NET INCOME Transfers between funds 10 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 42,331 16,000 58,331 22,982 24,843 47,825 10,506 14,250 24,756 108,623 133,379 |
Restricted fund £ - - - - - - - (14,250) (14,250) 24,250 10,000 |
31.10.22 Total funds £ 42,331 16,000 58,331 22,982 24,843 47,825 10,506 - 10,506 132,873 143,379 |
31.10.21 Total funds £ 77,324 5,269 |
|---|---|---|---|---|
| 82,593 | ||||
| 6,547 13,817 |
||||
| 20,364 | ||||
| 62,229 - |
||||
| 62,229 70,644 |
||||
| 132,873 |
The notes form part of these financial statements
Page 4
The Orthodox Church of Saint Silouan
Statement of Financial Position
31 October 2022
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Stocks 6 Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 118,578 6,500 9,674 12,999 29,173 (14,372) 14,801 133,379 133,379 |
Restricted fund £ - - - 10,000 10,000 - 10,000 10,000 10,000 |
31.10.22 Total funds £ 118,578 6,500 9,674 22,999 39,173 (14,372) 24,801 143,379 143,379 133,379 10,000 143,379 |
31.10.21 Total funds £ 66,366 7,700 3,697 58,605 70,002 (3,495) 66,507 132,873 132,873 108,623 24,250 132,873 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 August 2023 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 2022
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.
| Long leasehold | - in accordance with the property lease |
|---|---|
| Improvements to property | - 20% on cost |
| 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 2022
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.10.22 | 31.10.21 | |
| £ | £ | |
| Shop income | 16,000 | 5,269 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
Trustees' expenses
During the course of the year the trustees have been reimbursed for expenses incurred whilst performing duties for the charity.
4. RESTRICTED GRANTS
£24,250 of restricted grant funding was brought forward from the previous year (£10,000 from The National Lottery Community Fund and £14,250 from All Churches).
During the year, £14,250 was spent on the kitchen refurbishment. The remaining £10,000 was not spent prior to the year end and is represented by a restricted fund balance on the bank account of £10,000.
This is to be spent on a pavilion, once planning permission has been obtained.
5. TANGIBLE FIXED ASSETS
| COST At 1 November 2021 Additions At 31 October 2022 DEPRECIATION At 1 November 2021 Charge for year At 31 October 2022 NET BOOK VALUE At 31 October 2022 At 31 October 2021 |
Improvements Long to leasehold property £ £ 65,333 - - 66,819 65,333 66,819 327 - 326 13,364 653 13,364 64,680 53,455 65,006 - |
Fixtures and fittings £ 7,426 - |
|---|---|---|
| 7,426 | ||
| 6,066 917 |
||
| 6,983 | ||
| 443 | ||
| 1,360 |
Page 7
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
| 5. TANGIBLE FIXED ASSETS - continued Motor vehicles £ COST At 1 November 2021 21,156 Additions - At 31 October 2022 21,156 DEPRECIATION At 1 November 2021 21,156 Charge for year - At 31 October 2022 21,156 NET BOOK VALUE At 31 October 2022 - At 31 October 2021 - 6. STOCKS Finished goods 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors |
Computer equipment £ 7,519 - 7,519 7,519 - 7,519 - - 31.10.22 £ 6,500 31.10.22 £ 7,514 2,160 9,674 31.10.22 £ 12,987 1,385 14,372 |
Totals £ 101,434 66,819 |
Totals £ 101,434 66,819 |
|---|---|---|---|
| 168,253 | |||
| 35,068 14,607 |
|||
| 49,675 | |||
| 118,578 | |||
| 66,366 | |||
| 31.10.21 £ 7,700 31.10.21 £ 3,219 478 3,697 31.10.21 £ 2,355 1,140 3,495 |
|||
| 3,495 |
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The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
9. SECURED DEBTS
10. MOVEMENT IN FUNDS
| At 1.11.21 £ Unrestricted funds General fund 108,623 Restricted funds Restricted funds 24,250 TOTAL FUNDS 132,873 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
Net movement in funds £ 10,506 - 10,506 Incoming resources £ 58,331 58,331 At 1.11.20 £ 70,644 - 70,644 |
Transfers between funds £ 14,250 (14,250) - Resources expended £ (47,825) (47,825) Net movement in funds £ 37,979 24,250 62,229 |
At 31.10.22 £ 133,379 10,000 |
|---|---|---|---|
| 143,379 | |||
| Movement in funds £ 10,506 10,506 At 31.10.21 £ 108,623 24,250 132,873 |
Page 9
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 56,343 (18,364) 37,979 26,250 (2,000) 24,250 82,593 (20,364) 62,229 |
Incoming Resources Movement resources expended in funds £ £ £ 56,343 (18,364) 37,979 26,250 (2,000) 24,250 82,593 (20,364) 62,229 |
|---|---|---|
| 62,229 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
At 1.11.20 £ 70,644 - 70,644 |
Net movement in funds £ 48,485 24,250 72,735 |
Transfers between funds £ 14,250 (14,250) - |
At 31.10.22 £ 133,379 10,000 |
|---|---|---|---|---|
| 143,379 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 114,674 | (66,189) | 48,485 |
| Restricted funds | |||
| Restricted funds | 26,250 | (2,000) | 24,250 |
| TOTAL FUNDS | 140,924 | (68,189) | 72,735 |
Page 10
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2022
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2022.
Page 11
The Orthodox Church of Saint Silouan
Detailed Statement of Financial Activities for the Year Ended 31 October 2022
| 31.10.22 | 31.10.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and other income | 40,831 | 34,818 |
| Grants | 1,500 | 42,506 |
| 42,331 | 77,324 | |
| Other trading activities | ||
| Shop income | 16,000 | 5,269 |
| Total incoming resources | 58,331 | 82,593 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 21,088 | 4,770 |
| Events | 1,894 | 1,776 |
| 22,982 | 6,546 | |
| Other | ||
| Motor and travel expenses | 1,325 | 1,387 |
| Hire purchase | - | 441 |
| 1,325 | 1,828 | |
| Support costs | ||
| Management | ||
| Rates and water | 245 | 260 |
| Rent | - | 1,400 |
| Light and heat | 5,071 | 3,192 |
| Telephone | 345 | 360 |
| Repairs and renewals | - | 485 |
| Computer expenses | 216 | - |
| Food Larder | - | 2,357 |
| Long leasehold | 327 | 327 |
| Improvements to property | 13,364 | - |
| Fixtures and fittings | 917 | 917 |
| Computer equipment | - | 222 |
| 20,485 | 9,520 | |
| Finance | ||
| Insurance | 1,863 | 1,284 |
| Bank charges | - | 25 |
| Bank Interest | - | 1 |
| 1,863 | 1,310 |
This page does not form part of the statutory financial statements
Page 12
The Orthodox Church of Saint Silouan
Detailed Statement of Financial Activities
for the Year Ended 31 October 2022
| 31.10.22 | 31.10.21 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy and legal fees | 1,170 | 1,160 |
| Total resources expended | 47,825 | 20,364 |
| Net income | 10,506 | 62,229 |
This page does not form part of the statutory financial statements
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