Charity Registration Number: 1167656
Menbere Tsebaot Medhanealem Church London-UK
Annual Report and Unaudited Accounts From 01 September 2020 to 31 August 2021
Menbere Tsebaot Medhanealem Church London-UK
| Company Information | 3 |
|---|---|
| Trustees Report | 4 |
| Independent Examiner's Report | 6 |
| Statements of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 |
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Menbere Tsebaot Medhanealem Church London-UK Company Information For The Year Ended 31 August 2021
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 2021
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 2020 to 31 August 2021. 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 2021
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 25, 20 and 50 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 Financial Activities
Surplus for the year ended is £65,980. Statements of Financial Activities are shown on page 7.
Balance Sheet
The church has unrestricted and restricted fund balance of £358,901 and £72,772, respectively at the reporting date. Balance Sheet is shown on Page 8.
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Menbere Tsebaot Medhanealem Church London-UK Independent Examiner's Report For The Year Ended 31 August 2021
I report on the accounts of the Charity for the year ended 31 August 2021 which are set out on pages 7 to 9.
Respective responsibilities of Trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Charities Act or
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the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mehari Ogba-Michael For and on behalf of: 07 October 2021 O'Michael and Co Accountants Ltd Unit 38, The Link 49 Effra Road London, SW2 1BZ
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Menbere Tsebaot Medhanealem Church London-UK
Statements of Financial Activities
For The Year Ended 31 August 2021
| For | The Year Ended 31 August 2021 |
|---|---|
| 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 Funds Brought Forward Funds Carried Forward |
Unrestricted Restricted Total Unrestricted Restricted Total Fund Fund 2021 Fund Fund 2020 £ £ £ £ £ £ 31,367 - 31,367 25,697 - 25,697 8,270 - 8,270 8,166 - 8,166 38,930 - 38,930 38,439 - 38,439 - 4,390 4,390 - 6,270 6,270 7,030 - 7,030 6,941 - 6,941 - - - 317 - 317 604 - 604 274 - 274 2,481 - 2,481 2,450 - 2,450 1,241 - 1,241 1,225 - 1,225 1,122 - 1,122 1,108 - 1,108 |
| 91,045 4,390 95,435 84,617 6,270 90,887 |
|
| 11,675 - 11,675 11,675 - 11,675 6,084 - 6,084 6,760 - 6,760 3,560 - 3,560 3,048 - 3,048 8,136 - 8,136 2,048 - 2,048 |
|
| 29,455 - 29,455 23,531 - 23,531 |
|
| 61,590 4,390 65,980 61,086 6,270 67,356 297,311 68,382 365,693 236,225 62,112 298,337 |
|
| 358,901 72,772 431,673 297,311 68,382 365,693 |
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Menbere Tsebaot Medhanealem Church London-UK Balance Sheet
As at 31 August 2021
| Assets Debtors Sundry Cash at Bank Metro Bank Metro Bank Lloyds Funds of the Church Unrestricted Fund Restricted Fund |
Total Total 2021 2020 £ £ 3,500 - 214,997 144,965 72,772 68,382 140,404 152,346 |
|---|---|
| 431,673 365,693 |
|
| 358,901 297,311 72,772 68,382 |
|
| 431,673 365,693 |
|
For the year ending 31 August 2021 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 7 to 9 were approved by the Trustees on 07 October 2021 and signed on their behalf by:
Afomya Beyene Secretary 07 October 2021
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Menbere Tsebaot Medhanealem Church London-UK Notes to the Financial Statements For The Year Ended 31 August 2021
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) Taxes
The Church is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is therefore exempt from corporation tax on its charitable activities.
(e) Debtors
Debtors are collected within one year of the reporting period and carried at their transaction price.
(f) Unrestricted Fund
Funds are donations and other incoming resources receivable or generated for the objective of the Church.
(g) Restricted Fund
Funds are to be used for the specific purposes as laid down by the donor. Expenditures which meet these criteria is charged to the fund.
(h) Going Concern
The trustees have considered the consequences of COVID-19 and other events and conditions and have determined that they do not create a material uncertainty that casts significant doubt upon the church's ability to continue as a going concern.
The impact of COVID-19 on future performance and might therefore require disclosure in the financial statements, but the trustees have determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.
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