Trustees’ Annual Report and Accounts to 31.3.24 Shrewsbury Orthodox Church Appeal Foundation (SOCAF) 1166735
The original purpose of this charity, as its name suggests, was to handle the appeals being made by our sister charity, the Greek Orthodox Community of the Holy Fathers (CHF) 1087910, to raise funds for an extension to our small church building. This necessitated acquiring land and other assets, and because the CHF is a charitable trust (set up in 2001) and not, like ourselves, a charitable incorporated organisation (set up to 2015) able to own property, our function has gradually developed to include ownership of assets on its behalf.
Previous Trustees’ Annual reports have charted the progress made in consulting architects, making plans and assessing financial implications, but it has now become clear to us that the rapid increase of the membership of the Greek Orthodox church here in Shrewsbury, and the rise in weekly church attendance coupled with the restrictions imposed by the site of the church, has rendered these plans obsolete. Efforts and expenditure in that direction have therefore been discontinued.
In addition, another much larger church building has become available to us and in the early spring of 2024 (i.e.towards the end of the year to which this report applies) the Orthodox Community began using it on an informal basis with a view to negotiating a purchase.
It has also become clear to us that the change in circumstances has made both SOCAF and the CHF unfit for purpose going forward. Much planning and alteration to our constitution has been going since 31.3.24 and will be reported in our next Trustees’ Annual Report.
SHREWSBURY ORTHODOX CHURCH APPEAL FOUNDATION Charity No.1166735 Period of accounts Start date: 01 April 2023 End date: 31 March 2024
Business Information
Accountant’s Report
Profit and Loss Account
Balance Sheet
2024 2023 Flxed assets Tangible fixed assets 13.733 13.733 Current assets Cash at bank and in hand 51.549 63.124 Credltors: amount falllng due wlthln one l'ear Net current assets (960) 50389 63.124 Total Assets less curreni lixbilltles 64.322 63,124 Net assets 64J22 63,124 Capltal Account Opening Capital Net profiLqoss 63,124 63,124 1,198 64J22 63,124 Notes to the financial statements
l. Tgnglble Ilxed issels Cost Land and Buildings Tot*1 Ai 01 April 2023 Additions Di5$alS Ai 31 March 2024 13.733 13.733 13.733 13.733 DepreclalloD At 01 April 2023 Charge for year On disposals At 31 March 2024 'el book i'alues Ai 31 March 2024 13.733 13.733 Al 31 March 2023 2. Credllors: amounl falllng due wlthln one )'ear 2024 2023 Trdde Credilots 960 960 Detailed profit and loss account 2024 2023 Turnover Other Income 1.298 1.298 Gross profit Admlnlstrallve expenses Bank Charges lJ98 (100) 1.198 Net Pro(Itl(Loss)