THE ETHIOPIAN CHRISTIANS FELLOWSHI {UK) (ACHARrrAABLEGUARKfEEDCOMPANY) REGISTERED CHARITY NUMBER: 1163673 COMPANY REGISTARTION NUMBER: 9653290 REPORT OF I'HE TRUSTEES AND FINANC,IAL STATEMENTS FOR THE YEAR ENDF,D 31 MARCH ?024
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of th¢ Trustees For the ear Ended 31 March 2024 Contents Page Report of the Trustees 2107 Report of the IndeFendent Examiner st*ment of Financ ACtiveS 8alatKe set 10 Notes fOnIng part of the financial stslements 11to17 Paga 2
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK R¢ rt of the Trustees For the 'ear Ended 31 March 2024 Charity Name.. The Ethiopian Christian Fellowship IUKI oi ECFC Registered Charity NuMr 1163763 Registered Company Number 9653290 Piincipal address 178 King's Cross Road London WCIX90E TrusleeslDirectQTS G W.Yohannes Ichaiil L Kidane Isecretsryl R Roma M Asfaw Z Abegaz A Seyoum-zerfe A Shiferaw ID,Ilettepde?l Examirier Emmanuel Ernest & Co Chartered CertifEd Accountants Pago a
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP Re rt of the Trustees For the 'ear Ended 31 March 2024 UK Re.port of the Try.sloe5 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial staternenls ol the charity for the year ended 31 March 2024. The charity is refetTed to as'The Ethiopian Christian Fellowship {UKI' or ECFC. The financial stalements have been prepared in accordance with Ihe accounting poliaes set out in Note 110 the financial stalemenls and comply with the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Prac11 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}, las amended for accounting periods commencing 1 January 2016} Obie¢tives and ActTvities O¥jeclives', The primary objective of The Ethiopian Chrisb'an Fellowship IUK} is lo advan the Christian faith in the United Kingdom and beyond, The organisalion provKles spiritual support, pastoral care, and a platforni for fellowship among Ethiopian and Eritrean Christians. Activities.. Throughout the year, as church community we have engaged in various activities to fulfil our objectives, including-. Sunday Services.. This year Sunday service attendan averaged at 250 members and visitors. In addition, 11)CX) people allend online services each Sunday. As a church we nlinue lo have special conferences over the year including Easter Conferen held during Holy Week, annual summer confen and New Year crossover conferen. Guest speakers and ministers are invited lo these Conferen and altracl a large nurnr of attendees from ro$S London and Ihe surrounding area. Home Bible Sl+Jdy groups.. conb'nue lo meet weekly for organised Bible study and prayer session, both virtually and in-person, across various homes and locations arourwj London and the surrounding areas. Home Bible Sludy groups are the building blocks of the Church and are where people connect and bekjng, cullivale meaningful friendships, and grow in Christ together, offering deeper engagement with scripture and commltnal prayer. Children's Ministry.. continue to provide S?lfIC programs for children to nurture their spiritual growth, including Sunday School and days out during school holidays. Sunday school ministy continues to grow and thrive with attendance averaaing 120 F£r Sunday. Youth Ministry.. continues lo a strong and vibrant department within Ihe church. On average over 75 young people attend the seivices each Sunday, this number increases during holidays, Youth mid-week virtual Bible study has continued throughout the year. Several youth socials are held throughout the year including weekend retreats and camping. Community Outreach.. we contsnue to engaje in outreach programs aimed at supporting the local homeless community around King's Cross by opening our thx)rs and making food, showers, and clothes available for those who need it. So far, we have attracted a gocKI number from the largeled people allending this programme. We will liaise with the local Social SeNices lo continue with this programme in a large scaie for the coming years. Page 4
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK Re ort of the Trusteet> For the ear Ended 31 March 2024 We have also been working with Ethiopian and Eritrean immigrants and refugees in the UK. This includes the provision of counselling and social support to disadvantaged members of this community regardless of religious persuasion, sexual orientation, gender, or ethnic background. Our outreach worf( has attracted a good number from the vaTiOUS larget groups. Going forward this will require expanding and slrenglhening by liaising with other similar charities and local government organisations to continue with this programme for the coming years. Charitable Support,. we continue to support charitable initiatives in Ethiopia and Eritrea, including providing relief lo the poor, sick, disabled, homeless, orphans, and disadvantaged Ihrough contributions to compassionate causes and supporting victims of natural. Finanrigl Reyiow The charity's total income was £280,755 and was in line with exFeclations. The total charilab expenditure was £228,C67. Nel income over expenditure was £52,688. Investment policy and performance As far as possible, funds will be retained in interest bearing accounts. The Board of Trustees would explore safe inveslmenl strategies to ensure beller relums. Reserve policy The Board of Trustees have established a policy whereby the unrestrrcted fiJnds not commilled or invested by the charitable company should be between 3 and 6 months of annual expenditure. At this level, the Board of Trustee5 holds the view that they would be able to continue the current activities of Ihe charitable company in the event of a significant drop in funding. The Board of Trustees periodically reviews ils reserve policy lo be in the light of the wider strategic future plans. This is lo ensure that the level of the reserve we hold are not only appropriate to our curreni pjsilion and annual expenditure, but also taking into full cognisan what (Hjr future strategic plans are. This is provided mainly ihrough contributions arnl donations fiom members. slrvGire, goYeman* managemont The Ethiopian Christian Fellowship IUK}, the charity is a company limited by guarantee and incorporated on 23 June 2015 and registered as a charity on 27 September 2015. The company is established under a Memorandum of Association which established the objectives and powers of the charitable company and is govemed under its Articles of AslatiOn. In the event of the company being wound up, the subscriber members are required to contribijle an amount not exceeding £10 each towards the payment of liabilities the charitable company in¢urs. Qroanisaiion structure The trustees meet quartetly and have overall legal and financial responsibility for the Charity and are respK)nsible for approving the budgets and monitoring on-going financial perfomian against the sel budgets. They have delegated the spiritual and strategic leadership and the day-to-day management of the church lo the board of elders, who members are elected by the members of ECFC. The EFders Board reports to the Trustees, Board on a quarterly basis. There is a part-lime Adminislralor, who manages the day-to-day adminislralion. Method of appointment or ectIOn of board of trustees. Page 5
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP ort of the Trustees For th¢ ear Ended 31 March 2024 The management of the charitable company is the responsibility of the Board of Truslees who are appoinknenl and co-opted under the temis of the Articles of Association. The diteclors of the company are also charily trustees for the purpose of charity law. Under the quireMent of the Memorandum and Article of Associat the members of the Iruslees are elected lo serve for a term of three years after whKh they must be ie-elected for one more term of 3 years al the next Annual General Meeting. UK Pcl,'Gies ad.oplod for tho induction and training gf board of Iruslees Newly appointed Iruslees are provided with a Trusteeship pack outlining the role and responsibilities of the Trustees and organisational structure. The induction prOs$ for a newly elected member of the Trustees comprises an initial meeting with other Truslees and the Elders board. A Trustees Induction Pack is provided lo the Trustees, which includes the charitable company's goveming dccuments and excerpts from Ihe Charity Commission Guidelines. Pay policy for senior st@ff The trustees consider the board of trustees, the board of eldets, the finan manwJer and the adminislralor as comprising the key management personnel {senior staff) of the charity in charge of directing and controlling the challlable company and running and operating the charitable company on a day-lo-day basis. All trustees and elders and the finance manager give their lime freely and no remuneratK)n was paid in the year. Details of trustee expenses and relat&J third party transactions are disclosed in noles 7 and 1510 the financial statement respectively. Tnjslees are required lo disclose all relevant interest and register them with the adminislralor. In accordance with policy, the trustee withdraws from the decision where a conflict of interest arises. Risk m8nagpment The Twslees have assumed a default risk evaluation appro&h to identify and assess risk, then develop strategies by which it can be managed. This default appToach is generally tailored to spotting the risks, assessing the risks, and solving the Tisks. The Trustees are satisfied that the systems in pla are sufficient to mitigate ils exposure lo major risks and swifdy assimilate the significance of new risks. The Trustees have therefore assessed the major risks lo which the charity is exposed, in particular th0 relating to the specific operational areas of the charity and its finans. The Trustees believe that by monitoring resetve levels, ensuring ntrOlS exist over key financial systems and by examining the operational and business risks fad by the charity, they have established effective systems lo miligale those risks. Future developments The charity plans continuing the activities outlined above in the forthcoming years. Plans are also being developed lo work on a number of schemes with local churches and charitable organisalions for Spreading the Gospel and helping the local community including training projects on mentoring schemes which il is hoped will lead lo long-lerm community outreach. Pension fund ECFC opeiates a Defined Contribution Pension ScheffE for ils staff. The scheme is available to all staff who wishes to join. The employer and employee contribution to the scheme is 7% and 3'k respectively of the employee's gross salary. During Ihe year the total empk)yer contribution was £2,990. As at the year end, there were no outstanding conlribulions. Pigo
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK Re rt of the Trustees For the ar Ended 31 March 2024 Persois siilh siqn,firaril ¢onlio.' re0i51er Further to the provisions of Part 21A of the Companies Act 2006 relating lo individuals with significant control over the company andlor relevant legal enlilies (RLES) with significant control, the company knows or has reasonable cause lo believe that there is no registrable person or registrable legal enllty in relation lo the company. Respon?ibilitios of the trustees DISCLOSURE OF INFORMATION TQ INQIEPENDENT EMMINER In so far as the trustees are aware.. There is no relevanl infonnation of which ECFC'S Independent Examiner are unaware., and As the Iruslees of the charrty, we have taken all steps they ought lo have taken lo make them aware of any relevant information and lo establish that the Independent Examiner ate aware of that infonath.0n. RESPONSQBILITIFS OF TRUSTF.rs The law applicable lo charities in England and Wales, the Charilies Act 2011, Charity (Accounts and Reports) Regulations 2008 and the prowsions of the trust deed requires the trustees to prepare financial slalemenls for each financial year which give a true and fair view of the stsle of affairs of the charity and of the incoming resources and application of resour5, including the income and expenditure of the charity for that Year. In preparing tho* financial stslements, the Injslees are required to.. select suitable accounting policies and then apply them consislenlly,. observe the methods and prtnciples In the Charity SORP,. make judgements and estimates that are reasonable and prudent., prepare the financial stslements on the going concern basis unless il is rtot appropriate to assume that the company will continue that basis. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charity al any lime and lo enable them lo ensure that the finatlcial statements comply with the Chartlies Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonab steps for the prevention and detection of fraud and other irregularities SVI ALL CQMPANY PROVISON This report has been prepared in accordall with the special provision for small companies under Part15 of the Companies Act 2006. Approved by the Board of Trustees on 20 September 2024, and signed on its behalf by.. G W.Yohannes Chair of Board of Trustee Pago 7
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of the Trnstees For the ear Endal 31 March 2024 The ¢harily's tNslees consider Ihal an audit is not rewired for this year under Part 16 of the 2006 Act and that an independent examination is needed. The charity's gross income exceeckd £250.000 and l am qualified lo undertake the examination by being a quaifi member of The cered Association of Certified Accounlants. 11 is my responsibility lo.. examine the accounts urKiw section 145 of the Acl, lo follow the procedures laid thiwn in the general D1CtionS given by the Charity Commission (under seclic4114515}IbJ of the Charities Act, aNI lo slate whethw particular matters have come lo my attention Basis of indeFendenl examinerfs statement My examination was carried out in acc(*dance with general Directions given by the Charity Commission. An examination includes a review of the coUntIng records kept by the charity and a comparison of the accounts presented with Ih)se records. 11 also inclth consideraticn of any unusual items or disclosures in the acc¢Junls, and seeking explanations from the trustees conceming any such matter5. The procedures undertaken Ib not provide all the evidence that would be required in an audit, and consequently no 0.n1( is given as to whether the accounts psent a Irue and fairf view arMJ the resx)rt is limited lo thos8 matters $81 out in the statement below. Indepèndent examinels slalemenl In connection with my examination, no matèrial mattaE have come to my attention which gives me cause lo believe that In, any material resFecl'. counting records were not kept in accordarKe with section 386 of the Companies Ad 2006,. or the accounts do Th)1 accord with such records., or the account8 do not com Y with relevant accountin9 requirements under section 3 of the ComleS Act 2Q06 otr than any requirement that the accounts give a 'true and fairf view wlich is not a matter considered as part of an irKlependent examination., the acc¢)unts have ncrt LEen p¥epared in accordance wilh the Charities SORP IFRS102). I have no concems and have come across no Oth matters in connection with the examination lo which attention should be drawn in this report in c¥der lo enable a proper underslandiNJ of the acCntS to ie reached EmmaNd Oduro Atuah EmmaNel Emest & Co Chartered Certified Accounta & Business Advisor 92 Cranbrook Road, Lon(k)n SE8 4EJ Dale gseplember 2024
THE ETHIOPIAN CHIRSTIANS FELLOWSHtP UK Re ort of the Trustees For the ear Ended 31 March 2024 Statement of Financial Actlvilies {Including Summary Income and Expenditure Account) For the year Endèd 31 March 2024 2024 Unrestricted Funds 2023 Total Funds Notes Incomlng rèsources Charitable liVieS Other trading &livilies Investment inwne Total Income 248,300 25,635 6,820 280,755 192,822 18,340 2,552 213,714 Resources expended Charitable activib'es.. Direct charitable activities G0vemare exFenditure Total expenditure 1226,022} {202,9341 1,765 1204,6991 {228,0671 Net income lexpenditur¢} 52,688 9,015 Totsl funds brwght foThYard 01 April 2023 2,268.813 2.259,798 Total Funds Carried forward AT 31 March 2024 12 2,321,501 2,268,813 The notes from p&Jes 1110 17 foryn part of these finarxial statements Page 9
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK Re x)rt of the Trustees For the ¢ar Ended 31 March 2024 Balance Sheet AS at 31 March 2024 2024 Note5 Unrestricted Fund$ 2023 Total Funds Foxed Assets Tangible assets 1,608,617 1,660.394 Current Assets Debtors Cash at bank aThJ in hand 10 42,222 675,363 717,585 32,379 594,140 626,519 Creditors Amounts falling due within one year Net Current Assets 11 4,701 712,884 18,100 608,419 Nèt Assets 2,321,501 2,268,813 Funds: Unrestrlcted funds General 12 1321,501 2,268,813 Totsl Funds 2,321,501 2,268,813 The company was enthded to exempl'on from audit uThJer $477 of the Compantes Act 2006 relating lo small companies. The members have not requited the company to obtsin an audit in accordance with SeCtn 476 of the Companies Act 2006 The dIGI01s acknowledge thèir responsibilities for complying with the requiremènts of ts Companies Act with respect lo accounting records and the preparation of accounts. These accounts have b*n prepared in accordance with the provisions applKable to small companies subject lo the small companies. regime and in accordanrE th FRS102 SORP. The financial statements were approved bythe Board ofTruslees on 20 September2024 and were signed on its haIr by.. G W Yohannes hair L Kidane - Secretary The notes from p&Jes111017 form part of these nalar statements Page10
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK Re )ort of the Trustees For th¢ lear Ended 31 MCh 2024 1. ACCOUNTING POLICIES 7.1 Basis of preparation of financial statements The financial statements have been prepad under the histotical cost conventron wtth items recognised al cost or transaction value unless otherwise staled in the relevant nolelsl lo these accounts, and in accordatKe with Accounliro and ReportirNJ by Charities.. Slalement of Recommended Pwtice applicable to charities preparing their accounts in aCrdance with the Finanaal Reporting Standard applicab in the UK and Republic of Ireland IFRS 1021 las amended for accounting period cornmencing 1 January 20161- (Charibes SORP IFRS10211. the Financial Repoitng Standard applicable in the UK and Republ of Irela1 IFRS 1021 and the Companiès Act 2006,. and the Charities Act 2011. The Ethiopian Chrisb'an Fell0vhip {UK} constitutes a public benefit entity as defined by FRS102. Assets and liabililEs are inthally OgnISed at histonca cost or transaction value unless otherwise stated in the relevant accounbrwJ policy. 1.2 Changes of Cntirj P)Ii¢y The accounts present a tre and fair VEW and no chgeS have been maje to the accountirMJ FK)li¢ies adopted in note. 1.3 CharrfJe to aKounling estimates No changes lo accountiThJ estimates have CUrred in the reporting period. 1.4 Material prior year errors No matsnal prior year errots have been Klenlified in the rew1ing period. 1.5 Company status The charitable company is a company limited by guarantee. The rnembers of the company are the Board of Trustees named on page 2. In the event of the charitable company being wound up, the liability in respe¢l of th& guarantee limiled lo £10 per Member of the Charitsb c(¥npany. 1.6 Fuj aUnting General lunds are unreslricled lunds whih are availabb foruse al discretion ofthe Board ofTrustees in furthera of generai objectives of the charitablè company and which have not been designated for other purposes. whe there are designated funds, il comprises unrestricted lunds that have been sel a$e by the Board of Trustees for purposes. The aim and use of each designated furKI is sel out in the notgs to the financial statements. Where there are restricted fvnds, il would be fijnds whKh are to be used in aCCordar vrith SFecthc reslnclions imposed by donors or which have been raised by the charitable company for partular purpx)ses. The costs of raising and administenng such funds are charrJed against the specrfK bJnd. The aim use of each restricted fu1 is set OLrt in the notes to the financial st*ments. 1.7 .g concem The charity's for$1 and projection show that Trustees have a reasonabb 8xpeGtation Ihat the charity has adequate resources lo continue in operth'onal existence lor the fgreseeablè future. The trustees Consid that there are no materid unc8rta4nties about Ihe charities ability lo continue as a ping concem. The charity therefore conlinues lo adopt the going concem basis in preparing its financial statements. Page11
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of the TNstees For the ear Ended 31 March 2024 1.8 Incoming resources Incorne is recognised once the charitable company has entiuemenl lo the income, it is probable that the irwnE wll be received, and the anUnt of income receivablé can be measured reliably. Income tsx recoverable in relation lo datsn$ received under Gift Aid ordeeds ofcovenanl is r8cognised at the time of the d¢atr.0n. 1.9 Resources expended Expenditure is recognised once theie is a legal or conslruclive obljgalion lo transfer economic benefrt to a third party, it is probable that a transler of econornic benefits will be required in setllement and the amount ofthe OblatiOn can be measured reliably. Expenditure is classified by activity. The costs ofeh livity are m up of the total of direct costs and shared costs, including support costs involved in undertaking eh tiVity. Direct costs attn'bulable to a single tiVity are allocated direcJy to that activity. Shared costs which contribute lo more than one activity and suppx)rt costs which are not attributable to a single tivity are apportioned between those activities on a basis consislenl wrth the use of resours. Central staff costs are all(Laled on the basis of b'me spent, and tbprecialion charges allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expendituTe on the obie¢ts the charitab company. Governance costs are those incurred in connection with adminislralion of the charitab company and ¢ompliance with consts'lulK)nal and slatulory requirements. Charilable &tivilies and Govemance costs are costs inGuThed on the chLfrGh's operations, inc1J1rJ support costs and costs relaliThJ to the govemance of the church apportioned lo Charitab a¢b'vib'es. 1.10 Tangible fixed awts and depreciation All assets costing MO than £500 are capitalised rf they can tr used for more than one year. Tangib fixed assets are carried al cost, nel of depreciatr)n and any provision for impaimient. Depreciati¢Jn is not charged on freehdd land. Depreciatson is provided al rates calculated to wrrte off the cost of red assets, le their estimated residual value, over lf expected useful lives on the folk)wng bases.. Freehold property - 2Yo on cost Building improvements - 100kn on cost Fixtures, ffttings, aTrJ equipment - 20% on ¢osl Musical Instnjments - 200k on cost 1.11 Interest receNable Interest on funds hdd on deposit is included when receivable and the amount can measured reliabty by the Charitab cotnpany,. this is nomialty up)n nobfKalion of the interest paid or payable by the Bank. 1.12 Taxation As a registetEd charity, ECFC is exempt fmm tax on incorne and gains falling Vthin sli0n 505 of the Taxes Act1988 ors256 oflhe Taxatic)n of Chargeable Gains Acl1992 to exlenlthatthese are to its charitable objects. No tax charges have arisen in the Charity 1.13 Leasing and hire purchase Assets ()btsined under hire purchase COntrts atxl finarrE leases arecaprtalised as tangible fixed assets. Assets acquiied by finance lease are depreciated over the shorterof the lease lem7 and their useful lives. Assets acquired by hire purchase are depreciated over their usehjl lives. Finance leases are those wherè substantially all of the benefits and risks of ownership are assumed by the charitable Mpany. Obligakn'ons under such agreements are included in creditors nel of the finance charge allocated lo future periods. The finance element ol the rental payment is charged lo the Statement of financial acttvities incorpordting income and èXFendiluie account so as to produce a ¢onstant penodtc rats of¢hafge on the nel oblig*Dn outstsnding in e&h peiiod. Pagè 12
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of the Trustees For the ¢ar Ended 31 Mar¢h 2024 1.14 Debtors Trade arKI other deblots are recognised at the setdement amount after any trade discount offefed. Prepayments a vdued al the amount prepaid nel of any trade discounts due. 1.15 Cash at Bank and in hand Cash al bank and in hand includes cash and short lern highly liquid investments wtth a short maturity of three rnonlhs or less from the date of wuisitK*n or OFening of the depostt or similar &Gounl. 1.16 Liabilities and provisK)ns Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past evenl, it is probable that a transler of economic benefit wll be required in sethement, and the amnt of the settbrnenl can be estimated reliably. Liabilities are rec(xJnised al the amount that the charitable company anticipates il will pay lo settle the debt or the arnount il has received as advanced payments for the goods or services rt must provide. Provisions are measured al the st esb'mate ofthe amounts required to setde the obligation. Where the efft of the ts'me value of money is rnalerial, the provi%ion is based on the present value of those amounts. discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding olthe discount is recognised within Inte$1 payable armj similar chargès. 7.17 Financial instruments The charitable company only has financial assets and financial liabilibes of a kind that qualify as bas financial instruments. Basic financia instruments are InallY recognised al transaction value and subswjuendy measured al their settlement value with the excepb'on of bank loans which a subsequently meaSUd at amorti5ed cost using t1 effective interest method. 1.18 Pensions The Charitab company operates a defined contiibulion pension scheme and the nSIOn Charge represents the payab by the charitatr4è Company to the fund in respect of the year. 2. DONATIONS 2024 2023 Tithes and offerings Gift 215.510 32,790 248,300 162,995 29,826 192,822 3. OTHER TRADING ACTIVITIES 2024 2023 Lettings income Sundry itKome 21,000 18,340 25,635 18,340 Page13
THE ETHJOPIAN CHIRSTIANS FELLOWSHIP UK rt of the Trustees For the ear Ended 31 MarLh 2024 4. INVESTMENT INCOME 2024 2023 Interest recxvable 2,552 2,552 5. CHARITABLE ACTIVITIES 2024 Direct Gharitable a¢VItIeS 2023 Basis of allocation Direct expenditure Wages and Salaries Social security costs Pension costs Rent and Hall hire Children, Teens, and Aduil Youth Donation & grfts Ott*r ministy expendttures Staff costs Staff costs Staff costs A¢lual Actual Actual Actual Actual Actual Actual Actual Actual 26,837 19.503 1,214 1,750 18,305 17,719 4,940 6,829 7.073 3,694 10,166 235 2,978 94,406 1,879 16,382 31,657 3,100 3,897 13,028 5,805 10,652 Events and retreats Cleaning Travel Sundry expenses Sub totsl 10,993 124,294 Basis of allocation 2024 2023 Other support expendlture Wages and salaries Social security costs Pension costs Recruitment c051s Repairs and mntenance Insurance and safety Bank charges Printing & stationery Postage, Telephone, faxes & intemel Tradp waste Collecti fees CompliatKe Sundry expenses Dppreciation Fixed assets ile-off$ Sub total Staff costs Staff costs Staff costs Actual Actual Actual Actual Actual AGlual Actual Actual Actual Actual Actual 15,876 15,120 1,058 831 8,864 12,716 4,087 1,390 1,693 3,593 425 381 1,974 56,395 1,111 18,297 4,672 1,160 1,190 3,332 425 1,895 52.834 936 101728 108,528 Total Charitsble expenditure 226,022 202,934 Pa9e14
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK ort of the Trustees For the ¢ar Ended 31 March 2024 6. GOVERNANCE 2024 2023 Twslees meeting costs Independenl examiner's fees 295 1,750 2,045 265 1,500 1,765 7. TRUSTEES, REMUNERATION AND BENEFITS During the year, no Board of Tnjslees received any remuneration. During the year, Th) Board of Trustees reIved any benefits in kind. During the year, Th) member of the Board of Trusts received reimbursennl lortravel eX¥Se. 8. STAFF COSTS 2024 2023 WaJes and salaries Social security wsta Pensv)n costs 42,713 34.623 2,272 2582 39.477 45,703 The average nvjnthly numberof employees during the Year was as follows". Pastoral staff Administrative staff 2024 2023 None ofth8 employees teceived remuneralion am¢Juntiry lo more than £60,0(10. Page15
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of the Trustees For the ear Ended 31 March 2024 9. TANGIBLE FIXED ASSETS Freehold property Buildlng imwovement Fixtures, ffttings, and equipment Musical equipment Totsl COST AdditnS in the yer 1,826,403 I,340 6,328 49,538 1,982,609 900 1,093 1,993 Wrilethoff 116,434} 116,434) Al 31 March 2024 1,826,403 100,340 7,228 34,197 1,968,168 DEPRECIATION Charge for year Write-off Al 31 March 2024 255,695 36,525 20,170 10,034 2,626 1,178 43,724 5,097 15,498 33,323 322,215 52,834 15,498 359,551 292,220 30,204 3,804 NET BOOK VALUE At 31 March 2024 1,534,183 70,136 3,424 874 1,608,617 At 31 March 2023 7,570,708 80.170 3,702 5,814 1,660.394 10. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Tax Receivable Other debtors 40,120 2,102 29,827 2,552 32.397 11. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2024 Business Rates Other creditors Accruals 4,635 7,000 6,465 18,1( 3,131 4,701 Page16
THE ETHIOPIAN CHIRSTIANS FELLOWSHIP UK rt of the TTUStees For the ear Ended 31 March 2024 12. STATEMENT OF FUNDS Brought Forward In¢offle Expenditure Carried Fon¥ard Unrestricted fund$ General fund 2,268,813 280,755 228,Q67 2,321,501 TOTAL FUNDS 2,268,813 280,755 228,067 2,321,501 13. ANALYSIS OF FUNDS 2024 2023 Unrestricted funds Unreslricled funds Tangible fixed assets Debtors Cash at bank Creditors TOTAL FUNDS 1,608,617 42,222 675,363 4,701 2,321,501 1,660,394 32,379 594,140 18,100 2,268,813 14. PENSION COMMITMENT There aTe M FensiorF commitments. The church op&rates a defi ntribL1n heme for ts empk)yees. The pension costs charge represents the contribution paid by ECFC to the fu1 and amounted to £2,990. The amunt outstanding al the end of the year wa5 £NIL. 15. REL4TED PARTY TRANSACTIONS There were no tranSlI0n5 with related parties Page17