REGISTERED CHARrrY NUMBEL. 1169979 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENrs R THE YEAR ENDED 31 DECEMBER 2024 GREEK CATllEDRAL CEMETERY ENCLOSURES TRUST FUND G. George Associates Limited Chartered Certified Accountants 12 Gateway Mews Ring Way London NII 2UT
GREEK CATHEDRAL CEMETERY ENCLOSURLS TRUST Fuhl) CO,NYENTS OF THE Fll¥AI%CIAL STATEMEh'TS FOR THE YEAR ENDED 31 Decnber 2024 Page Reference and Administrative Drfai Rewrt ofthe Th]stees Independent Examiner's Report Statement of Finan Actlvltles Balance Sheet Notes to the Flnan¢ial Statements 7 10 10 Ddoiled Statemellt of Financial Activities li
CREEK CATHEDRAL cETERy EWCLOSURES TRtiST FUND REFERENCE IIND ADl[STRATIvE DETAIIS FOR THE YEAR ENDED l December 2024 TRUSTEES N Skinitis P J Voudris C Apodiacos MCLOS V ZaTifis AJWBurton PRtNCIPAL ADDRESS 12 Gateway Mcws Ring Way tx)ndon Nll 2ur REGIsfERED CHARITY 1169979 INDEPEIYDENT EXAMtNER G. Grge Associates Limited CharteTed Certified Accountants. 12 Gatcway Mews Ring Way London Nll 2ur Page I
GREEK CATHEDRAL CEMETERY ENCLOStiRES TRUST FUF4D REPORT OF THE TRLTSTEES FOR THE YEAR ENDED 31 Detember 21)24 The tsustees prnt their report with the financial statements of the tharity for the year ended 31 December 2024. The trustees have adopted the provisions of Aounting and Rep)rting by Charities: Stthement of Recommended Practice applicable to charities prwing their accounts in accordance with the Financial Rq]ng Standard applicable in the UK and Republic of land (FRS 102) (effective l January 2019). Objectives and aims The maiD objectivc of the charity is the provision of burial grounts for the purpose of the internient of rnL7nbers of the Greek & Greek Cypriot Christian Orthodox community in Greater tmdon area. signific aclivilies The trust Continu to maintain cemetery encl(Ksures and continue selling plots of land forburial. Publit benefit The trustees have giv due regard to guidance issued by the Clwity Conimission in dcciding what activitiC5 the charity should undertake. The trtC9 have complied with the duty in section 17(5) of the 2011 Charities to have thic regard to guidancc published by the Chatity Commission. Details of bow thc ctrjarity's activities are for the public benefit are d&ailed in this report and the trustees have given due ¢onsider*ion to the Charity Commi&sion guidance on public befit FllYANCIAL REVIEW Reserves poliey It is the policy of the chaTity thal unrestrictcd fvnds which have not been designated for a specific use slKJuld be maintsined to fund the Costs of pUhs1ng additional sites to ensure the ability of the charity to Continue in the long t¢my and to secure such sites with a reduced reliance on obtaining external funding and to cover nintO]Ce and support expenditure in the event of a significant thvp in sal¢ of burial plots. The trltttS consider thal maintenance and expenditure reserves at a level equivalent to twelve month's maintenance and support expenditure, will ensure th, in the event of a significant drop in sale of burial plots. tbey will be able to continue the charity's current a¢tivitias while consideration is given to ways in which additional fijnds may be raised. The charity con1inu to maintsin healthy rcserves throughout the year. At the end of the year the chaTity r&serves were as follows". Generdl unrestricted fimd.. q881435 {2023 - £2,690,943). During the year the chwity sold 16 burial plots (2023 - 57) for a totsl of £144,000 (2023 - £504,0(KI). Net incoming ffwurces were £191.492 (2023- £525.992}. STRUCTURt GOVERNANCE AND MANAGELMENr Coverning document The trust is governed by a tru deed dated 31 December 1860 as amcnded pursuant to Charity Cornmission order daled 18 Decctnber 2002 and &8 amended by deed dated 26 Junc 21KI3. Before l Novanber 2016, the trust was a linked-Chity to The Greek cathedr Thist Fund, a PTincipal chaTity registered with thc Charity Commission un(kr rcgistrdtion nurnkr 265710. On l NoVallr 2016 the tn]st was rc-rcgistered with the Charity Commission und¢r ffgistration nurnber 1169979 the In¢ was d¢linked frorn Thc Gr¢¢k Catha1ral TThst Fun(L Remiitinent YdDd Appointment of Deiv trustees The trust deed provides for a maximum of seven trustees and new trust will be appoint1 to fill a vacany OT VWCieS ising from any cause whatsoever. The method of re¢nJiting and appointing tnge5 is by majority decision of the trustees currently in oftyicc. Pagc 2
GREEK CATHEDRAL CEMETERY ENCLOSi3RES TRLT T FUJT) REPORT OF THE TRUSTEES FOR THE YEAR EII])ED 31 De¢embeT STRiIURE, GOvERNACE AL MNAGEMENr OrganlsYdtion418tructur¢ The tsusttts are responsible for the management and day to day operation of the ¢emctcry enclosures and also to adminislerthe trust funds. Decisions are taken with a majority v¢Xe amongst the tnceS. Inducdon and training of new trustees Following appointmenl, new trustes are introduced to their new role and given copi&s of the trust deed. The trusteas are guided in the pKrforniance of their work by charity regulations and by reference to the professional fiTms referred to on page l. Key management remunerado The trLts ar¢ regarded as key management of the charity. The tNste&8 do not receive any remuneration or benefits in kind. Rlsk maDag¢ment The trnsteas have a duty to identify and review the risks to which the trust is expos and to ensure appropriate contro15 are in place to provide reasonable assurnnce again fraud and enDr. The trustees have &ssessed the major risks to which the trust is expowj, and are satisfied that systems are in place to mitigate exposutE to these risks, Approved by order of the board of trustees on 10 October 2025 and signed on its behalf by.. N Skinitis- T stee Page 3
EPENDENf EXAMYER,s REPORT TO THE TRUSTEES OF GREEK CATHEDIL4L CEMETERY EliCLOSURES TRUST FUYD Independent examiner's report to the trustees of Greek cathedr Cemetery Enclosures Trust Fund I report to the charity trnstees on my examin*ion of the accounts of Greek catheth Cemetery Enclosures Tnjst Fund (the Trust) for the year ended 31 December 2024. Re5POllsibililies and bwsi5 of report As the charity trustees of the Trnst you are responsible for the prepatation of the accounts in }rdanCe with the requirernents of the Charities Act 2011 Cthe Act). I rq)ort in rwect of my examination of the Trust's accounts caTricd out under Section 145 of the Act and in caryying out my examination I have followed all 4)plicable Dlredions given by the Charity Commission under Section 145(5Xb} or thc Act. tndependent examiner's statement Since your charity's gro&8 income ex¢eeded £250,000 your examiner must be a membeT of a listcd body. I can confirnj that I am qualified to undertake the examination because l am a member of th¢ Associalion of Chartered Certified A¢¢ountsnt4 which is one of the listed bodie& I have completed my examination. I confirni that no material matters have Come to my attention in connertion with the examinatson giving me cause to believe that in any material respect: unting records were not kept in res of the TTUSt as required by Section 130 of the Act. or the accounts do not a¢cord with those records; or the accounts do not comply with the applicable requiranents con¢aning the forni and contenl of xo)unts set out in the Chariti&s (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give true and fair view which is not a matter nsIdered as part of an independt examination. I have no concuns and have Come across no otber matters in coteCtion with the examinalion to which attention should be drawn in this report in order to enable a proper undetBtanding of the accounts to be reached. Philip Onissiphorou, FCCA FCA G. George Associates Limited Chartered Certified A¢¢ountantS 12 Gateway Mews Ring Way tknndon Nll 2ur 10 October 2025 Pagc 4
GREEK CATHEDRAL CEMETERY ENCLOSURES TRUST Fu STATEMEII'T OF FLYAI¥4CIAL ACTIVITIFS FOR THE YEAR ENDED 31 December 2024 31.12.24 Unrestricted 31.12.23 Tots] funds Notes ¥corviE FROM Sale of plots Invthent income i44,0 123,170 504,INJO 76,527 Total 267,170 580J21 EXPENDITURE ON Maintenance of enclosur¢s and oth¢r support ost¥ 75,678 54535 ET LYCOME 191,492 525,992 RECONCILIATION OF FUNDS Total funds brnught fonvard 2,690.943 2.164.951 TOTAL FUNDS CARRIED FORWARD 2,882,435 2,690,943 The notes forn part of these financial statements Page 5
GREEK CATHEDRAL CEMETERY EliCLOSURES TRUST FUThD ALANCE SHEET 31 December 2024 31.12.24 Unrestricied fund 31.12.23 Total funds CURREN[ ASSETS Debtors Cash at bank 9,149 2,892,948 9,882 1729,838 2,902,097 2,739,720 CREDITORS Amounts falling due within one year (19,662) (48,777) IYET CURRENT ASSETS 2,882,435 1690,943 TOTAL ASSETS LESS CURRENT LIABILITIES 2.882,435 2,690,943 NET ASSETS 2,881435 2,690,943 FUNDS Unrestricted funds 2.882,435 2.690.943 TOTAL FUNDS 2,882,435 2,690,943 The financial statements were appTov¢d by the Board of TrustCC5 and authorised for issue on 10 OctolKr 2025 and were signed on its bei]alf by.. N Skinitis- Trnstee Zatifi - TSlee The notes form part ofthese financia] statements Page 6
GREEK CATHEDRAL CEMETERY ENCLOSURES TRUST FUND NOTES TO THE Fll¥LNCIAL STATEMEiYrs FOR THE AR ElED 31 December 2024 ACCOUNTING POLICIES Basis of preparlDg tbe financi statements The financial statements of the charÉty, which is a public benefjt entity under FRS 102, have been prepared in accordance with the ChaTities SORP (FRS 102) 'Accounting and Reporting by Charities: Stalement of Recommended PTrctice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Repubb'c of treland, and the Chariiies Act 2011. The fmancial statements have been prepared under the historical cost convention. The financial statements have been prepared to give a 'true and faig view and have d• from the Charities (Accounts and Reports) Regulations 2(M)8 only lo the extent required to provide a and fair value,. This departure has involved following Accounting and Reporting by Charities preparing their lunt$ in accordance wilh ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Rep)rting by Charities: Statement of Recommended ptice effective from l April 2005 which has since been withdrawn. Income All income is recognised in the Statement of Financial Activities once the charity entitlement lo the fund& it is probable that the income will be rtteived and the amount can be mcasured reliably. ExpeDdlture Liabilitie5 are recogniscd as expenditure as soon &$ ihere is a lega] or constructive obligation committing the charity to that exFtnditure, it is probable thal a transfer of OnoMiC benefits will required in settlement and the amount of the obligation Can be measured reliably. Expenditure is accounted for on an rua]S basis and h been classified under headings that aggregate all cost related to the ¢at¢gory. Where costs cannot be directly attributed to paiticular headings they have been allocated to activities on a basis consista]t with the use of Taxadon The charity is exempt from tax on its Charitable activities. Fund ac¢ounting unstrICted ndS can be uscd in accordance with the charltablc objectives at the discretion of the trustees. Restricted fill]ds ¢an Only be used for partiwlar restricted purposes within the objects of the charity. Restrictions arise Wh specified by the donor or when funds are raised for particular restri¢tcd pu4)oses. Further explanation of the nature and putpose of each thnd is included in the notes to the financial ststements. Hlre purch¢ 4Dd lea8ing Commitments RentsIs paid under operating leases are ¢hargcd to the Statement of Financial Activities on a strdight line basis over the perii)d of the leay. Heritsge asset8 The cemetery enclosures arc not capitalised on the balance sheet since, in the opinion of the Thistees they are inalienable or historic assets and there are material restrlctions on their realisation. Due to their natu the cost OT liable valuation of such assets is not availabl¢ and the TTUStees are of the opinion that to obtain such a valuation is not ¢ommensuTate with the benefit to users of th financial ststemenis. Expenditu Incued after their acquisition has been written off in the year of expenditure to the extent it relates to the maIntenat and upkecp of the &s8ets. Page 7 continu¢d...
GREEK CATHEDRAL CEMETERY ENCLOSiJ]iES TRDST FtryD NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 D ember 2024 SALE OF PLOTS 31.12.24 31.12.23 Sale of plots at Hendon and New Southgate en¢losur 144,0 504,C 31.12.24 31.1213 Deposit account interast 123,170 76,527 TRUSTEES, REMUNERATION ND BEJYEFITS There were no trustces, remutmtion or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenseB There were no trnstees, expenw paid for the year ended 31 December 2024 nor for the year ended 31 Dcc¢mber 2023. COhfPAIL4TIVES FOR THE STATEMI ENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME FROM Sale of plots InveStMt income 504,000 76527 Total 580,527 EXPLYDITURE ON Maintenancc of en¢105UTes and other support costs 54,535 NET INCOME 525,992 RECONCILIATION OF Total tsnds brought fonvard 2,164,951 TOTAL FUNDS CARED FORWARD 2,690,943 Page 8 conlinued...
GREEK CATHEDRAL CEMETERY ECLOSLll1Es TRUST FUND NOTES TO THE FINANCIAL sfATEMENfs. conthilled FOR THE YEAR LYDED 31 Deeember 2024 DEwfoRS: AMOUNTh FALLING DUE WITHLY OIYE YEAR 31.12.24 31.1223 Prq)ayments and accrned income 9,149 9,882 CREDITORS: AMOUNTS FALLThG DI]E WITHll¥ ONE YEAR 31.12.24 31.12.23 Othcr creditors 19.662 48,777 Net movement in fimds At 31.12.24 At 1.1.24 Unrestri¢t¢d fuDds G¢neral fund 2,690,943 191,492 2,882,435 TOTAL Ftmi S 1690.943 191,492 2,882,435 movement in funds, included in the above are as follows: Incoming rurCeS Resources expended Movement in funds Unrestricted funds Gcneral fund 267,170 (75,678) 191,492 TOTAL FUNDS 267.170 (75,678) 191,492 CompArative8 for movementin funds Net movement in funds Ai 31.12.23 At 1.123 Unrestricted funds GeneTal fimd 2,164951 525,992 2,690,943 TOTAL FUNDS 2,164,951 525,992 2.690,943 Page 9 continued...
GREEK CATHEDRAL CEMETERY EJI CLOSURES TRUST FUND NOTES TO THE FlhANCIAL STATEMEYfs- continued FOR THE YEAR DED 31 December 2024 mOvEMET IN FUNDS. contlDued Comparative net movement in funds, included in the above are &8 follows: Incoming Rcsources Movem1 in fun(ts Unrestrleted funds General fund 580,527 (54,535) 525,992 580,527 (54,535) 525,992 A CUTrent year 12 months and PTior year 12 months combingj position is as follows: Net movement in funds At 31.12.24 Ai 1.1.23 UDrestricted thnd8 General fund 2,164,951 717,484 2,882,435 TOTAL FUNDS 2,164,951 717,484 2,882,435 A ¢urr¢nt year 12 months and prior ye4r 12 months combineAI net movement in funds, includ1 in th¢ abov¢ ar¢ as follows: Incoming Resources Movement expended in funds Unrestricted funds General fimd 847,697 (130213) 717,484 TOTAL FUII'DS 847,697 (130,213) 717,484 RELATED PARTY DISCLOSURES Includcd in software and data $1$ is £950 (2023 - £950) paid to Z&ifis Consulting Limited, a ¢ompany conttDlled by Mr Vassilios Zarifi4 who is a ttustee of the charity. Page 10
GREEK CATHEDRAL CEMETERY ENCIL)SURES TRL'ST FUND DETAILED STATEMEhT OF FLYANCIAL ACTtVTfIES FOR THE YEAR ENDED 31 D r 2024 31.12.24 31.1223 COME Sale of plots Sale of plots at Hendon andNew Southgale cncl(Ksur&8 144,0(M) 504,IKX) Investment ineome 123,170 76,527 Total incoming resource 267,170 580.527 Maintenance of endosure5 and other 8llPPOrt costs Maintenance of Hendon and New Southgate enclosures Printin& postage and statÉonery 21,269 28,500 585 1.933 1,142 60 17275 5,040 1,994 952 Software and data Bank charges Legal and professional fees Accountancy ftts 46,423 75,678 54,535 Total $oUrS expended 75,678 54,535 Net income 191,492 525,992 This page does not forni part of the statutory financial statements Pagell