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REGISTERED CHARITY NUMBER: 1157458
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2024
The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. 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 Charity exists to advance and promote the Christian Faith in accordance with the teachings and practices of the Orthodox Church, as stated in its governing document.
Objectives
The Charity is committed to increasing the spiritual strength and well-being of its parishioners by nurturing a deeper understanding and practice of the Orthodox Christian Faith. Central to our mission is the desire to engage meaningfully with the wider community, offering spiritual guidance, emotional support, and a place of refuge to all who seek it.
Grounded in Christian values, the Charity aspires to be a beacon of hope and compassion-especially for those facing hardship, loneliness, or personal crisis. The Orthodox Church remains open to all in spiritual need, offering not only prayer and sacraments but also a listening ear and a comforting presence.
We aim to foster a strong, inclusive, and spiritually vibrant parish community that reflects the love, mercy, and healing found in Christ.
Significant activities
The Charity offers a variety of ways for individuals to contribute to its mission and makes its facilities available for both worship and broader community use. The church serves as a space for religious services, while the adjacent community hall supports educational, cultural, and social activities.
The significant activities are:
-
Providing and maintaining ministerial and pastoral services through clergy;
-
Organising religious services, self-development meetings, and conferences;
-
Supporting individuals and families in need;
-
Delivering spiritual, social, cultural, and educational programs;
-
Promoting language education, particularly in English and Romanian.
To support these aims, the Charity has organised Bible study groups, cultural talks, community gatherings, and social events following Sunday services. It has also actively supported youth initiatives within the Church.
Page 1
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2024
ACHIEVEMENTS AND PERFORMANCE
Regular services of the Holy Liturgy were conducted every Sunday and on major Holy Days. Additional weekly services, such as matins, vespers, and special prayers for the sick and those affected by the pandemic, were also held, invoking the intercession of the Mother of God and all Saints.
The Charity has continued to celebrate key life events with members of the community, including baptisms, weddings, and funerals, in accordance with Orthodox Christian traditions and in compliance with Government health guidelines.
Furthermore, the Charity has successfully participated in community initiatives, including those supported by FareShare, Neighbourly, and FoodShare, to deliver valuable projects addressing food poverty and social isolation.
FINANCIAL REVIEW
Financial position
The charity experienced a growth in turnover of nearly 20% during the year. A portion of the resulting surplus reserves has been allocated towards capital improvements, specifically funding the extension of the existing building through the addition of a Pavilion. At the same time, we remain committed to careful financial management, closely monitoring overheads and ensuring prudent spending. This approach supports the long-term sustainability of the charity and enables us to build reserves for future needs.
At the same time, we remain committed to careful financial management, closely monitoring overheads and ensuring prudent spending. This approach supports the long-term sustainability of the charity and enables us to build reserves for future needs.With the surplus adding to closing bank balance and reserves it may also be pertinent to comment on the reserves policy and what the funds are being held towards (this may be to safeguard activities or perhaps to expand or increase premises)
FUTURE PROJECTS
Looking ahead, the Charity remains committed to:
-
Growing the number of parishioners and volunteers;
-
Enhancing the functionality and appeal of the community space;
-
Maintaining an active and engaged role as a grassroots organisation within the local community.
The Trustees extend their heartfelt thanks to all Council members and volunteers whose dedication and service continue to make the work of the Charity possible.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk Management
The Trustees have reviewed and updated the Charity's core policies, including those related to Health and Safety, Fire Safety, Safeguarding, Equality, and Data Protection (GDPR).
The three Trustees work collaboratively to ensure robust financial oversight, while responsibilities among the Trustees and the ten Committee members are clearly defined. Regular formal and informal meetings support effective governance. The Charity is fully insured, and all procedures are routinely reviewed for compliance and effectiveness.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1157458
Page 2
The Orthodox Church of Saint Silouan
Report of the Trustees for the Year Ended 31 October 2024
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 16 September 2025 and signed on its behalf by:
Reverend C Badin - Trustee
Page 3
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 2024.
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
McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
16 September 2025
Page 4
The Orthodox Church of Saint Silouan
Statement of Financial Activities for the Year Ended 31 October 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 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 £ 53,059 15,670 41 68,770 15,490 33,034 48,524 20,246 4,693 24,939 148,728 173,667 |
Restricted fund £ - - - - - - - - (4,693) (4,693) 7,660 2,967 |
31.10.24 31.10.23 Total Total funds funds £ £ 53,059 39,735 15,670 19,500 41 - 68,770 59,235 15,490 18,257 33,034 27,969 48,524 46,226 20,246 13,009 - - 20,246 13,009 156,388 143,379 176,634 156,388 |
31.10.24 31.10.23 Total Total funds funds £ £ 53,059 39,735 15,670 19,500 41 - 68,770 59,235 15,490 18,257 33,034 27,969 48,524 46,226 20,246 13,009 - - 20,246 13,009 156,388 143,379 176,634 156,388 |
|---|---|---|---|---|
| 59,235 | ||||
| 18,257 27,969 |
||||
| 46,226 | ||||
| 13,009 - |
||||
| 13,009 143,379 |
||||
| 156,388 |
The notes form part of these financial statements
Page 5
The Orthodox Church of Saint Silouan
Statement of Financial Position
31 October 2024
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Stocks 8 Debtors 9 Cash at bank and in hand CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 101,585 8,000 6,917 65,235 80,152 (8,070) 72,082 173,667 173,667 |
Restricted fund £ - - - 2,967 2,967 - 2,967 2,967 2,967 |
31.10.24 Total funds £ 101,585 8,000 6,917 68,202 83,119 (8,070) 75,049 176,634 176,634 173,667 2,967 176,634 |
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 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 September 2025 and were signed on its behalf by:
C Badin - Trustee
The notes form part of these financial statements
Page 6
The Orthodox Church of Saint Silouan
Notes to the Financial Statements for the Year Ended 31 October 2024
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 7
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Shop income | 15,670 | 19,500 | |
| 3. | INVESTMENT INCOME | ||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Deposit account interest | 41 | - | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Support costs | 40 | (573) |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
During the course of the year the trustees have been reimbursed for expenses incurred whilst performing duties for the charity.
6. RESTRICTED GRANTS
£7,660 of restricted grant funding was brought forward from the previous year.
During the year, £4,693 was spent on the pavilion refurbishment. The remaining £2,967 was not spent prior to the year end and is represented by a restricted fund balance on the bank account of £2,967
This is to be spent on a pavilion, with works commencing in December 2024
Page 8
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
7. TANGIBLE FIXED ASSETS
| COST At 1 November 2023 Additions At 31 October 2024 DEPRECIATION At 1 November 2023 Charge for year At 31 October 2024 NET BOOK VALUE At 31 October 2024 At 31 October 2023 COST At 1 November 2023 Additions At 31 October 2024 DEPRECIATION At 1 November 2023 Charge for year At 31 October 2024 NET BOOK VALUE At 31 October 2024 At 31 October 2023 |
Improvements Long to leasehold property £ £ 65,333 78,613 - 4,693 65,333 83,306 980 29,086 327 16,661 1,307 45,747 64,026 37,559 64,353 49,527 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 | ||
| 7,426 - |
||
| 7,426 | ||
| - | ||
| - | ||
| Totals £ 180,047 4,693 |
||
| 184,740 | ||
| 66,167 16,988 |
||
| 83,155 | ||
| 101,585 | ||
| 113,880 |
Page 9
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
| 8. STOCKS Finished goods 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 11. MOVEMENT IN FUNDS At 1.11.23 £ Unrestricted funds General fund 148,728 Restricted funds Restricted funds 7,660 TOTAL FUNDS 156,388 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement in funds £ 20,246 - 20,246 Incoming resources £ 68,770 68,770 |
31.10.24 £ 8,000 31.10.24 £ 4,631 2,286 6,917 31.10.24 £ 2,324 5,746 8,070 Transfers between funds £ 4,693 (4,693) - Resources expended £ (48,524) (48,524) |
31.10.23 £ 8,500 31.10.23 £ 11,863 2,108 13,971 31.10.23 £ 7,020 1,385 8,405 At 31.10.24 £ 173,667 2,967 |
31.10.23 £ 8,500 31.10.23 £ 11,863 2,108 13,971 31.10.23 £ 7,020 1,385 8,405 At 31.10.24 £ 173,667 2,967 |
|---|---|---|---|---|
| 176,634 | ||||
| Movement in funds £ 20,246 20,246 |
||||
| 20,246 |
Page 10
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net Transfers At movement between 1.11.22 in funds funds £ £ £ Unrestricted funds General fund 133,379 13,009 2,340 Restricted funds Restricted funds 10,000 - (2,340) TOTAL FUNDS 143,379 13,009 - Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 59,235 (46,226) TOTAL FUNDS 59,235 (46,226) A current year 12 months and prior year 12 months combined position is as follows: Net Transfers At movement between 1.11.22 in funds funds £ £ £ Unrestricted funds General fund 133,379 33,255 7,033 Restricted funds Restricted funds 10,000 - (7,033) TOTAL FUNDS 143,379 33,255 - |
At 31.10.23 £ 148,728 7,660 |
|---|---|
| 156,388 | |
| Movement in funds £ 13,009 13,009 At 31.10.24 £ 173,667 2,967 |
|
| 176,634 |
Page 11
The Orthodox Church of Saint Silouan
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
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 | 128,005 | (94,750) | 33,255 |
| TOTAL FUNDS | 128,005 | (94,750) | 33,255 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2024.
Page 12
The Orthodox Church of Saint Silouan
Detailed Statement of Financial Activities for the Year Ended 31 October 2024
| 31.10.24 | 31.10.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and other income | 53,059 | 39,735 |
| Other trading activities | ||
| Shop income | 15,670 | 19,500 |
| Investment income | ||
| Deposit account interest | 41 | - |
| Total incoming resources | 68,770 | 59,235 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 14,109 | 16,520 |
| Events | 1,341 | 2,310 |
| 15,450 | 18,830 | |
| Other | ||
| Motor and travel expenses | 1,793 | 2,242 |
| Support costs | ||
| Management | ||
| Rates and water | 350 | 327 |
| Light and heat | 5,075 | 4,438 |
| Telephone | 411 | 401 |
| Postage and stationery | - | 536 |
| Repairs and renewals | 2,936 | 378 |
| Computer expenses | 428 | 216 |
| Long leasehold | 327 | 327 |
| Improvements to property | 16,661 | 15,723 |
| Fixtures and fittings | - | 444 |
| 26,188 | 22,790 | |
| Finance | ||
| Insurance | 2,748 | 2,364 |
| Governance costs | ||
| Accountancy and legal fees | 2,345 | - |
| Total resources expended | 48,524 | 46,226 |
| Net income | 20,246 | 13,009 |
This page does not form part of the statutory financial statements
Page 13