Charity Registration Number: 1167656
Menbere Tsebaot Medhanealem Church London-UK
Annual Report and Unaudited Accounts From 01 September 2019 to 31 August 2020
Menbere Tsebaot Medhanealem Church London-UK
| Company Information | 3 |
|---|---|
| Trustees Report | 4 |
| Statements of Activities | 6 |
| Statements of Financial Position | 7 |
| Notes to the Financial Statements | 8 |
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Menbere Tsebaot Medhanealem Church London-UK Company Information For The Year Ended 31 August 2020
Trustees
Deacon Dawit Haile (Chairperson)
Mr Solomon Tesfai Kiflay Mr Naizgi Weldegaber Tefery
Mr Biniam Semere
Secretary
Ms Afomya Beyene
Registered Office
St Olaves Parish Church Woodberry Down London UK N4 2TW
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Menbere Tsebaot Medhanealem Church London-UK Trustees Report For The Year Ended 31 August 2020
The Trustees of MenbereTsebaot Medhanealem Church London-UK are pleased to present their annual report together with the financial statements of the charity for the period covering from 01 September 2019 to 31 August 2020. The said report and financial statements are prepared to meet and comply with the Charities Act 2011 and Accounting and Reporting by Charities-Statement of Recommended Practice FRS 102.
Aim and Purpose
The Charity is set up to advance the Christian Orthodox religion in London according to the teaching and practice of the Eritrean Orthodox Christian patriarchate for the benefit of the public regardless of ethnic origin.
Objectives and Activities
The charity is committed to enabling as many people as possible to worship at the Eritrean Orthodox Church through: -
❖ Holding of religious services (masses are open to the public, conducting of religious celebrations such as marriages, christenings, funeral services and special prayer for the departs...etc)
❖ Conducting Orthodox church bible studies and religious teachings
❖ Public celebrations of religious festivals
❖ Distributing literature on Christian Orthodox religion in order to enlighten others about the religion
❖ Providing a place of worship for those who wish to attend the Christian Orthodox services and celebrations
❖ Providing pastoral care for people working in the parish
Structure, Governance and Management
Governing Document
MenbereTsebaot Medhanealem Church London-UK is a registered charity number 1167656. The charity is governed by its Articles of Association in August 2014.
The liability of each member in the event of winding-up is limited to £1. Anyone over the age of 18 can become a member of the charity.
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Menbere Tsebaot Medhanealem Church London-UK Trustees Report-Continued For The Year Ended 31 August 2020
Appointment of Trustees
As set out in the Articles of Association those members of the church who are registered in the church register elect Trustees. All those who attend our services being members of the congregation are encouraged to register as members.
Once appointed a Trustee serve for three years after which period, they put themselves forward for reappointment.
The Trustees who served during the period are set out on page 3. The Trustees meet quarterly. The Trustees have nominated a number of working groups, which meet regularly to develop new programmes/activities, to assess progress as well to look for new and bigger church.
Review of Activities
Over the stated period the church managed to provide church service every Sunday. In addition, there were additional church service for special dates in the honour of saints. The church has conducted 50, 10 and 100 marriage, funeral and christening services, respectively.
The church is currently conducting its services in a rented church which allows a limited hour on Sunday. This has constrained the service of the church. To overcome this problem the Trustees has set up a team whose short-term objective is to research for a bigger church for a lease with the ultimate objective to fund raise and acquire its own property.
Financial Results
Statements of Activities
Surplus for the year ended is £67,356. Statements of Activities are shown on page 6.
Statements of Financial Position
The church has unrestricted and restricted fund balance of £297,311 and £68,382, respectively at the reporting date. Statements of Financial Position is shown on Page 7.
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Menbere Tsebaot Medhanealem Church London-UK
Statements of Activities For The Year Ended 31 August 2020
| For | Statements of Activities The Year Ended 31 August 2020 |
|---|---|
| RECEIPTS AND PAYMENTS ACCOUNT Receipts Membership Fee Tithe (10% gratitude payment from personal income) Gifts and Donation Moba Purchase of Church Promise Sunday School Others Income from Church Services Christening(Baptism) Marriage Funeral Payments Rent Payable for Hire of a Church Staff Related Costs Costs of Merchandise Others Excess of Receipts over Payments Fund Balance at 01 September 2019 Fund Balance at 31 August 2020 |
Unrestricted Restricted Total Unrestricted Restricted Total Fund Fund 2020 Fund Fund 2019 £ £ £ £ £ £ 25,697 - 25,697 9,043 - 9,043 8,166 - 8,166 15,011 - 15,011 38,439 - 38,439 73,260 - 73,260 - 6,270 6,270 - 16,765 16,765 6,941 - 6,941 9,345 - 9,345 317 - 317 1,747 - 1,747 274 - 274 1,282 - 1,282 2,450 - 2,450 2,030 - 2,030 1,225 - 1,225 1,000 - 1,000 1,108 - 1,108 690 - 690 |
| 84,617 6,270 90,887 113,407 16,765 130,172 |
|
| 11,675 - 11,675 22,212 - 22,212 6,760 - 6,760 6,760 - 6,760 3,048 - 3,048 360 - 360 2,048 - 2,048 490 - 490 |
|
| 23,531 - 23,531 29,822 - 29,822 |
|
| 61,086 6,270 67,356 83,585 16,765 100,350 236,225 62,112 298,337 152,640 45,347 197,987 |
|
| 297,311 68,382 365,693 236,225 62,112 298,337 |
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Menbere Tsebaot Medhanealem Church London-UK Statements of Financial Position As at 31 August 2020
| Assets Cash at Bank Metro Bank Metro Bank Lloyds Funds of the Charity Unrestricted Funds Restricted Funds |
Total Total 2020 2019 £ £ 144,965 83,258 68,382 62,112 152,346 152,968 |
|---|---|
| 365,693 298,337 |
|
| 297,311 236,225 68,382 62,112 |
|
| 365,693 298,337 |
|
For the year ending 31 August 2020 the charity was entitled to exemption from audit under 477 of the Companies Act 2006. No member has required the church to obtain an audit of its accounts for the year in question in accordance with section 476.
The Trustees acknowledge their responsibility for: (1) Ensuring the church keeps accounting records which comply with the requirements of the Act; and (2) preparing accounts which give a true and fair view of the state of affairs of the church as at the end of this profit and loss for the financial year in accordance with the requirements of the church Act relating to accounts, so far as applicable to the church.
The accounts on pages 6 to 8 were approved by the Trustees on 22 June 2021 and signed on their behalf by:
Afomya Beyene Secretary 22 June 2021
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Menbere Tsebaot Medhanealem Church London-UK Notes to the Financial Statements For The Year Ended 31 August 2020
1. Statutory Information
The Church is a registered charity number 1167656, the liability for members of the charity being limited to £1 each. The presentation currency of the financial statements is pound sterling.
2. Principal Accounting Policies
a) Accounting Convention
The financial statements are prepared under the historic cost convention. In preparing the financial statements the Church follows the best practice in the UK as set out in Accounting and Reporting by Charities: Statement of Recommended Practice 2015 – FRS 102.
(b) Income
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity must fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
(c) Expenditures
Expenditures are included when incurred.
(d) Going Concern
The cash and income of the charity has steadily increased in the foreseeable future and based on this the Trustees are in the view that there is no economic indicators that show that the sustainability of the charity is under threat in the near future.
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