**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;
- 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.
Page 1
**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
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 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
Page 3
**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
Page 4
**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
Page 5
**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.
Page 6
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.
Page 7
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|
Page 8
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|
Page 9
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|
Page 10
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.
Page 11