2023-08-31-accounts - Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church

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Charity Registration Number: 1167656

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church

Annual Report and Unaudited Accounts

From 01 September 2022 to 31 August 2023

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church

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

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Company Information For The Year Ended 31 August 2023

Trustees

Mr Abraham Yohannes (Chairperson)

Mr Daniel Asmelash

Mr Mussie Berahi

Secretary

Registered Office

St Olaves Parish Church Woodberry Down London UK N4 2TW

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Trustees Report For The Year Ended 31 August 2023

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 2022 to 31 August 2023. 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.

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Trustees Report-Continued For The Year Ended 31 August 2023

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 marriage, funeral and christening services.

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 £146,677. Statements of Financial Activities are shown on page 7.

Balance Sheet

The church has unrestricted and restricted fund balance of £424,155 and £164,820, respectively at the reporting date. Balance Sheet is shown on Page 8.

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Independent Examiner's Report For The Year Ended 31 August 2023

I report on the accounts of the Charity for the year ended 31 August 2022 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:

examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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:

accounting records were not kept in accordance with section 130 of the Charities Act or
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: 30 June 2024

O'Michael and Co Accountants Ltd Unit 38, The Link 49 Effra Road London, SW2 1BZ

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Statements of Financial Activities For The Year Ended 31 August 2023

==> picture [478 x 486] intentionally omitted <==

----- Start of picture text -----
UnrestrictedRestricted Total UnrestrictedRestricted Total
Fund Fund 2023 Fund Fund 2022
£ £ £ £ £ £
RECEIPTS AND PAYMENTS ACCOUNT
Receipts
- -
Membership Fee 32,830 32,830 25,516 25,516
- - - - - -
Tithe (10% Gratitude Payment )
Gifts and Donation
Moba 71,874 77,392 149,266 - - -
Purchase of Church - - - - 1,000 1,000
Promise - 13,656 13,656 - - -
- - - - - -
Sunday School
Others 18 - 18 1,272 - 1,272
Income from Church Services
- - - - - -
Christening
- - - - - -
Marriage
Funeral - - - - - -
104,722 91,048 195,770 26,788 1,000 27,788
Payments
- -
Rent Payable for Hire of a Church 27,140 27,140 10,963 10,963
Staff Related Costs 14,380 - 14,380 2,740 - 2,740
- -
Sunday School 3,000 3,000 1,990 1,990
Costs of Merchandise - - - - - -
- - - -
Accountancy & Legal Fee 1,700 1,700
Other 2,240 - 2,240 - - -
Bank Charge 633 - 633 1,470 - 1,470
- -
49,093 49,093 17,163 17,163
Excess of Receipts over Payments 55,629 91,048 146,677 9,625 1,000 10,625
Funds Brought Forward 368,526 73,772 442,298 358,901 72,772 431,673
Funds Carried Forward 424,155 164,820 588,975 368,526 73,772 442,298
----- End of picture text -----

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church Balance Sheet

As at 31 August 2023

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----- Start of picture text -----
Total Total
2023 2022
Assets £ £
Debtors Sundry 1,091 3,500
Cash at Bank
Metro Bank 300,621 228,946
Metro Bank 151,164 73,772
Lloyds 136,099 136,080
588,975 442,298
Funds of the Church
Unrestricted Fund 424,155 368,526
Restricted Fund 164,820 73,722
588,975 442,248
----- End of picture text -----

For the year ending 31 August 2022 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 29 June 2023 and signed on their behalf by:

Mr Abraham Yohannes Chairperson 30 June 2024

Eritrean Orthodox Tewahdo Membere Tsebaot Medhanealem Church

Notes to the Financial Statements For The Year Ended 31 August 2023

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.