REGISTERED CHARITY NUMBER: 1157458
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2023
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 2023
| 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 |
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2023
The trustees present their report with the financial statements of the charity for the year ended 31 October 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 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;
-
To hold religious, as well as self-improvements, meetings and conferences;
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To help those in financial need;
-
To teach and promote the learning of languages: English and Romanian;
To this end, the Charity has organised: Bible studies, activities to encourage the younger members of the community in the life of the Church, after Liturgy gatherings, celebrations on Feast Days.
ACHIEVEMENT AND PERFORMANCE
The Charity is well establish at 78-80 Harewood Road, approaching 10 years of continuous service. 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 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 further improvements to the kitchen area and replaced the Church's shutters.
We have also started planning the improvement of the car parking space, which we hope to finalise in 2024/25.
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.
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The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk Management
To minimise risks, the trustees have adopted 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 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 30 August 2024 and signed on its behalf by:
Reverend C Badin - Trustee
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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 2023.
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
30 August 2024
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The Orthodox Church of Saint Silouan
Statement of Financial Activities for the Year Ended 31 October 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Total EXPENDITURE ON Raising funds 3 Other Total NET INCOME Transfers between funds 11 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 39,357 19,500 58,857 18,257 27,591 45,848 13,009 2,340 15,349 133,379 148,728 |
Restricted fund £ - - - - - - - (2,340) (2,340) 10,000 7,660 |
31.10.23 31.10.22 Total Total funds funds £ £ 39,357 42,331 19,500 16,000 58,857 58,331 18,257 22,982 27,591 24,843 45,848 47,825 13,009 10,506 - - 13,009 10,506 143,379 132,873 156,388 143,379 |
31.10.23 31.10.22 Total Total funds funds £ £ 39,357 42,331 19,500 16,000 58,857 58,331 18,257 22,982 27,591 24,843 45,848 47,825 13,009 10,506 - - 13,009 10,506 143,379 132,873 156,388 143,379 |
|---|---|---|---|---|
| 58,331 | ||||
| 22,982 24,843 |
||||
| 47,825 | ||||
| 10,506 - |
||||
| 10,506 132,873 |
||||
| 143,379 |
The notes form part of these financial statements
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The Orthodox Church of Saint Silouan
Statement of Financial Position
31 October 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Stocks 7 Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 113,880 8,500 13,971 20,782 43,253 (8,405) 34,848 148,728 148,728 |
Restricted fund £ - - - 7,660 7,660 - 7,660 7,660 7,660 |
31.10.23 Total funds £ 113,880 8,500 13,971 28,442 50,913 (8,405) 42,508 156,388 156,388 148,728 7,660 156,388 |
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 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2024 and were signed on its behalf by:
C Badin - Trustee
The notes form part of these financial statements
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The Orthodox Church of Saint Silouan
Notes to the Financial Statements for the Year Ended 31 October 2023
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.
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continued...
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Shop income | 19,500 | 16,000 | |
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Support costs | (573) | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
Trustees' expenses
During the course of the year the trustees have been reimbursed for expenses incurred whilst performing duties for the charity.
5. 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.
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continued...
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 November 2022 Additions At 31 October 2023 DEPRECIATION At 1 November 2022 Charge for year At 31 October 2023 NET BOOK VALUE At 31 October 2023 At 31 October 2022 COST At 1 November 2022 Additions At 31 October 2023 DEPRECIATION At 1 November 2022 Charge for year At 31 October 2023 NET BOOK VALUE At 31 October 2023 At 31 October 2022 |
Improvements Long to leasehold property £ £ 65,333 66,819 - 11,794 65,333 78,613 653 13,364 327 15,722 980 29,086 64,353 49,527 64,680 53,455 Motor Computer vehicles equipment £ £ 21,156 7,519 - - 21,156 7,519 21,156 7,519 - - 21,156 7,519 - - - - |
Fixtures and fittings £ 7,426 - |
|---|---|---|
| 7,426 | ||
| 6,983 443 |
||
| 7,426 | ||
| - | ||
| 443 | ||
| Totals £ 168,253 11,794 |
||
| 180,047 | ||
| 49,675 16,492 |
||
| 66,167 | ||
| 113,880 | ||
| 118,578 |
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continued...
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
| 7. STOCKS Finished goods 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 10. SECURED DEBTS 11. MOVEMENT IN FUNDS At 1.11.22 £ Unrestricted funds General fund 133,379 Restricted funds Restricted funds 10,000 TOTAL FUNDS 143,379 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement in funds £ 13,009 - 13,009 Incoming resources £ 58,857 58,857 |
31.10.23 £ 8,500 31.10.23 £ 11,863 2,108 13,971 31.10.23 £ 7,020 1,385 8,405 Transfers between funds £ 2,340 (2,340) - Resources expended £ (45,848) (45,848) |
31.10.22 £ 6,500 31.10.22 £ 7,514 2,160 9,674 31.10.22 £ 12,987 1,385 14,372 At 31.10.23 £ 148,728 7,660 |
31.10.22 £ 6,500 31.10.22 £ 7,514 2,160 9,674 31.10.22 £ 12,987 1,385 14,372 At 31.10.23 £ 148,728 7,660 |
|---|---|---|---|---|
| 156,388 | ||||
| Movement in funds £ 13,009 13,009 |
||||
| 13,009 |
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continued...
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net Transfers At movement between 1.11.21 in funds funds £ £ £ Unrestricted funds General fund 108,623 10,506 14,250 Restricted funds Restricted funds 24,250 - (14,250) TOTAL FUNDS 132,873 10,506 - Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 58,331 (47,825) TOTAL FUNDS 58,331 (47,825) A current year 12 months and prior year 12 months combined position is as follows: Net Transfers At movement between 1.11.21 in funds funds £ £ £ Unrestricted funds General fund 108,623 23,515 16,590 Restricted funds Restricted funds 24,250 - (16,590) TOTAL FUNDS 132,873 23,515 - |
At 31.10.22 £ 133,379 10,000 |
|---|---|
| 143,379 | |
| Movement in funds £ 10,506 10,506 At 31.10.23 £ 148,728 7,660 |
|
| 156,388 |
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continued...
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
11. MOVEMENT IN FUNDS - continued
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 | 117,188 | (93,673) | 23,515 |
| TOTAL FUNDS | 117,188 | (93,673) | 23,515 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2023.
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