CharSty Reglstration No. 1172096 Company Reglstratlon No. CEO10596 (England and Wales) THE FRIENDS OF ETCHMIADZIN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE FRIENDS OF ETCHMIADZIN LEGALAND ADMINISTRATIVE INFORMATION. Trustees Bishop V Manukyan Mr H H Dklizian Mr R B Tanielian Ms S Ross LLB (HONS) Charlty number 1172096 Company number CE010596 Reglstered offlce 107 E81ing Road Brenlford MiddloS&X TW8 OLF Accountant8 M¢)oro Northom Fk)me Countles Llmiled 73-75 Hlgh Slreel Stev6nago Hertfordshlre SG13HR Bankers N81ional W&slminsler Bank plc Kensington. Royal Garden Branch PO Box 2341 55 Kensington Hlgh Street London W8 5ZG
THE FRIENDS OF ETCHMIADZIN CONTENTS Page Truslees. report Accountants, report Slalem8nl oi financial actlvliles 8alance sheet st81em8nl ol cash flow8 Notes lo the financlal statements 7-10
THE FRIENDS OF ETCHMIADZIN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial stalements for the year ended 31 March 2025. The financial statements hav8 been prepared in aOrdanCe with the ac(x)unllng pollcies sel out in note to Iha financial statements and comply with the charity's Trusl Deed, lh& Charities A¢1 2022 and "Accoundng and Reportlr)g by Charltie$: Slalement of Recommended Practice applicable to charltles preparlng Ihelr accounts In accordance wllh the Financial Roportlng Standard applicable in the UK and Republlc of Ireland (FRS 102}" Objectlves and actlvitles The obJecliv& ol the Charity Is the advancem8nl of rellglon in 8ceA)rdane6 with the docldnes of tha Armenian Church by the provlsion of support lo the mOtr See ol Holy Elchmiadzln in Armenia and around the world In such mann8r as th8 charity trustees may determin8 from lime to tim8. Th8 Truste8$ have referred to the guldance contalned in Ihe Charlty Commission's gen8ral guldanc8 on publlc ber)efit when reviewlng our alms and obj8Ctlves and In plannlng our future acllvilie$. Achlevoments and performance During the ye8r, our dedlcaled Iwslees recelved generous donations lolallng £20.000.00. We also recelved £ 800, whSch w8s further enhanced by Glft Ald contrlbutions 8mountlng 10 £200. In allgnmenl with the Trust'8 steadfast commilmenl lo Ils obleclives. the trust88s alkscaled £20,000 as grant donalions lo the slud8nt to cov8r hls accommodallon fees for £20.000 and also donated £25,000 lo ACT UK for advanclng Chrlstian fallh 8nd impl8menting projects undgr the Ifuslees, dlscrelion. Thls slgnificanl contribullon was speclfically designated to provlde bulldlng facllllles that enable chlldren at dsk of social and economic Isolation lo engag8 In arl and palnling. Addilionalty. a grant of £5,000 w8s allocaled to cover expenses In¢urred by tha Bishop In his mlssion to Internallonal travels, attend lo various parlshes and organlse aclivilios. Flnanolal revlew The Charlty adopts a unlquo approach by focuslng on raising funds for speclflc prol8Cts rather than settlng asld8 reserves for ongolng oper8llonal costs. As of the year-end, Ihe Charlty's funds lolaled £4,405.15. wlth Ihe m8lorlly dedicated to charitable grants. The Trustees have conducted 8 comprehensiv8 assessment of slgniflcanl rlsks that tho Charity may face concernlng its operations and finances. CurT9ntly. no specific risks or uncertalnlies havo b88n Identified. However. the Trustees remaln vlgilant In monltorlng the Charlty's a¢tivlll86 and ar8 pr&pargd lo address any rlsks Ihal may arlse. Plans for future perlods Moving forward, the Twst is commitled to maintalnlng its ntral pdicy of provlding gr8n18 lo rellglous organiL311ons, particul8rly in support of the Mother See of Holy Etchmiaijzln in Armenia. The Trust wlll also conllnue lo asslsl wllh the malntenance of the B]sP,S House in Brentford, London, a5 needed, and support the Blshop In hls rgsponsibililles related lo hls Choir and Youth programs. as w811 as vlsiting parishes throughout the Unlted Klngdom and predomlnantly In Anen7a. LaslSy. the Trust MaInS dedicaled io providlng educational support to students. struGture, governance and management The Friends of Elchmiadzln is a reglslered Charity and a Charitable Incorporaled Organlsatlon govern8d by Its Trust Deed. The trustees, who are also lh8 directors for the purpose of )MpanY law. and vtho served during the year and up to the dale of signature of the financial statements were: ishop V Manukyan Mr H H Dldlzlan Mr R B Tanielian Ms S Ross LLB IHONS)
THE FRIENDS OF ETCHMIADZIN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A Board of Trustees of four members administers Ihe Charity. The Board has the pow8r lo appoint any person to be a TTuslee. either to fill a casual vacancy or as an addition to the existing members. None of the Iwstees has any beneficial InteSt In the Gharity. If Ihe charity 18 wound up. lh& trust&&s have no liability to Contribute to ils a88els and no personal responsibility for s8tt1ing its debls and liabililies. The Charity is run by ils Trustees. who make decisions at bjard meelir¥Js. There 8r8 no staff to delegat8 management of Ihe Charity lo. New Iruslees are made awaro of their responsibilities upon Induction and are encouraged lo k88p up lo d81e with d8velopment8 in the sector by accessing relevant tralning material. Th8 Irusle8s' report was approved by thg Board of Trusta8S. Bishop V Manukyan Trusteè Dale.. 30'Jan"2026
THE FRIENDS OF ETCHMIADZIN CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FRIENDS OF ETCHMIADZIN FOR THE YEAR ENDED 31 MARCH 2025 In order to assist you to fulfil your duties under the Companies AGI 2006, we have prePad for your approval the finanaal stat&menls of The Friends of Elchmiadzin lor the year ended 31 March 2025. which comprise the statement of financial activitie5. the cash flow slatemenl and Ihe related notes from the charily's accounting records and from inft)mialion and explanations you have given us. As a praclising member firm of lh8 Instilule of Chartered A(xountanls in England ar Wales, we are subject to It8 ethical and other professlonal requirements which are deiailed at httpjlwww.icaew.comlenlmemb8r8hiplregulalions- 8landard8-and-guidancel. This report is mad8 lo the charity's truslees, as a body. in acccdance with Ihe lerms of our engagement letl8r. Our work has been undertaken sulely to propare for your approval the financial slal8ment8 of The Friends of Etcl)miadzin and state those matt8rs that wo have agreed to 8lale to th6 charitys trusle8s. as a body, In this report In accordanGe wllh ICAEW Technical Roloase 07116 AAF. To the fullest extont permitted bylaw. we do nol accept or assume responsibility to anyone other Ih8n The Friends of Elchmiajzin and the charity's Ifuslees as a body. for our work or for this report. It is your duty lo ensure that The Friends of Elchmiadzin has kept adequate ac¢ountlng records and lo prepare 81alulory financlal slalemenls Ihal glve a true and fair view of Ihe assets. liabilities, financial posllion and dgficil of The Frlends of Elchmiadzln. You conslder that The Friends of Etchmiadzin is ex8mpt from the slalulory audll requir8menl for the year. and Is not required to obtain an Independent examlnerf6 report. We have noi been inslw¢led to cary oul an audit or a review of Ihe financlal slalemenls of The Friends of Elchmladxin. For Ihls reason. we have not verifd Ihe accuracy or compleleness of Ihe accounting records or Informallon and explanation8 you have given io us and we do not, therefore. eXpsS any opinion on the slalulory financial slalemenls. oor Moore Northern Hom¢ Counties Llmited Chartered Accountants 73-75 Hlgh Street Slevenage Hertfordshlre SG13HR Date.. .Q2.F¢b.2Q.2fi......
THE FRIENDS OF ETCHMIADZIN STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Unrestrlcted funds 2024 Note5 Income from: Donallons and legacles 21.000 78,114 Total InGome 21.OtKI 78.114 Expendltur8 on: Charll8bl& acllvltles 52,697 45,100 Total expendlturé 52,697 45,100 Net Incomel(expendlture) and movemont In funds 131,6971 33.014 Reconclllatlon of funds: Fund balances al 1 April 2024 62,378 29,364 Fund balance$ at 31 March 2025 30.681 62,378 The slalement of flnancial actlvili&s Sncludes all galns and h)ss8s recognlsed In the year. All Income and 8xpendlture d6rlv6 from contlnuing acllvlti88.
THE FRIENDS OF ETCHMIADZIN BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Noles Current assets D8blors Cash al bank and In hand 28.970 4.405 28,970 35,400 33,375 64.370 Cr8ditors: amounts falling duo withln one year 10 (2.694) 11.992) Not currènt assets 30,681 62,378 The funds of the charlty Unreslricled funds 11 30,681 62,378 30,681 62,378 The company is entitled to the exemption from the audit requirement contained in &tclion 477 of the Companlas Act 2006. for Ihe year ended 31 March 2025. The directors acknowledg8 their responsibilities for complying with the qulr8menls of the Companles Act 2006 wlth r8spect lo accounting CordS and Ihe preparation of financial slalemenls. The members have not requlred the company to obtain 8n audit of its nancIal stalemenls for Ihe year in question in accordanc8 wilh secllon 476. The8e financial st8tements have been prepared In accordan with Ihe provlsion5 applicable lo compan168 8ublect to the 8mall companies Wlme. 30 Jan 2026 The financlal statementswere approved ty the Iruglees on .................. Blshop V Manukyan Trusteo Company registratlon number CE010596 (England and Wales>
THE FRIENDS OF ETCHMIADZIN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng actlvitles Cash {8bsoTbed byllgengrdled from operalSons 13 (30,995) 33.146 Net cash generatad from Investlng actlv5ties Net cash generated fmm flnanclng actlvltiès Net Id¢crease}Ilncrease In cash and cash equlvalents (30.995) 33,146 Cash and c88h equivalent8 at beglnning of y8ar 35,400 2.254 Cash and cash equlvalents at end of year 4.405 35,400
THE FRIENDS OF ETCHMIADZIN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charlty Intormatlon The Frlends of Etchmiadzin is a private company lirniled by guarantea Incorporated in England and Wales. The registered office is 107 Ealing Road, Brentford. Middles8x. TW8 OLF. 1.1 Accountlng conventlon Th8 flnancial slalemenls have been prepared in accordance wilh thg charivs Trust Deed, the Companles Acl 2006 and "Accounting and Reporting by Charilles: Slalement of Recomm6nd8d Practice appllcabl6 to charlll&s preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102r. The charlly Is a Publlc Benefit Entity as defined by FRS 102. Th& finanGlal statements are prepared In slèdlng. whlch Is th6 functional currency of Ihe charlly. Mon8tary amounts In Ihese flnanclal sialemfrnts are rounded lo n8ar8St £. The financlal slalemenls have been pr8pared under Ihe hlstorlcal rLsst convention. The prlnclpal accounllng pollcies adopted are sel out b810w. 1.2 Golng concern At Ihe time of approvlng Ihe Ilnancial statemenls. the Irustees have a reasonable expecl8llon that tha charlty has adequate resources to conllnuo In op8ralional exislence for the loresee8ble future. Thus Ihe Iruslees continue to adopt the golng concern basi8 of a¢counllng In pr6P8ring the flnancial 8tat6menls. 1.3 Charltable funds Unreslrlcled funds are those general funds received and ulilised in furtherance of the oblecls of the charity. Funds where the capllal is held to generate income lor chariiabl6 purposes and cannot its81f b8 spent are accounled for as endowment funds. 1.4 Incomlng resources Donallons, legacies and slmllar Incomlng resources are re(x)gnlsed 0e th8 tharity has enllllomenl to Ihe Incom8, there Is suificlont cerlalnly or r8coipI and so11 Is probable that the Income wlll be recelved. and the monetary value of Income can be measur8d rellably. Cash don8tlons are recognised on recelpt. Other donallons are recognis6d once the charlty has been Dollfied of the donallon, unless performance condillons require del8rral of the amounl. Income lax re¢over8ble In relation to donations receiv6d under Gift Akl or deeds of covenanl Is recognssed at the Ilme of tho donalS0n. 1.5 Resources expendod Expendilure is recognlsed In the slalemenl of financl81 acllvities on an accrual basls as a Ilablllly Is Incurr8d. Expendllur6 Includes any VAT which can nol be fully recovered. The expenditure on charitable activilies includes grants tnade. govemanco cosls and support costs. Included wllhin this category are costs of complying wilh conslllullonal and statutory requirements. ApplScalions for granls are considered by the Trusleus from unlversty students of Armgnian orlgln. as well as Amienian educallonal, cultural and soclal organisalions. Priority is given by Ihe TrusleÈ8 lo undergradual6 students. They Bre 4Gcounled for on an accruals basls where the thlrd party has a reasonable expectation Ihal Ihey wlll recelve the grant. 1.6 Cash and Gash equivalonts Cash and cash equivalents include cash in hand, dep(k8its hebj al call with banks, other short-term Ilquld Investments with original maturitles of three months or less.
THE FRIENDS OF ETCHMIADZIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IWARCH 2025 Accountlng pollcles (Contlnued) 1.7 Flnanclal Instruments The charity has eleGted lo apply th& provisions of Section 11 'Basic Financlal Instrum8nl8' and Secllon 12 'Olher Financlal Inslnjmenls Issu8s' of FRS 102 to all of Its financ1 Instruments. Flnancial inslrum8nls aro recognlsed In the chartlVs balance Sheet Wtrn the charlty becomes party lo the contractual provlslons of thè Instrument. Donatlons and legacles Unrestrlcted Unre5trlGt&d fund5 funds 2025 2024 th)nallons and gifts Glft Ald redalmed 20.800 200 55.000 23,114 21,000 78,114 Charitable actlvllle8 2025 2024 Gr8nt fundlng o18Ctlvltle8 (see note 4> Share ol govemance cosl818ee note 5) 50,000 2,697 43,078 2.022 52,697 45.100 Grant8 payablo 2025 2024 Religious granls Educallonal giants Other 25,000 20,000 5,000 36,077 7.000 50,000 43.078
THE FRIENDS OF ETCHMIADZIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Goveman¢o costs osts 2025 Support Governance costs costs 2024 Accountancy fees Independent 8xamlner fees 2.697 2,697 2,022 2,022 2,697 2.697 2.022 2,022 Allocated lo.. Charltable activities 2.697 2.697 2,022 2,022 Trustees None of the Irusle6s (or any persons conn8c18d wllh Iheml receNed any remuneralion or boneflls from th8 charlly durlng the year. Employeas The av&rage monlhly number of employees durlrwJ th8 year was: 2025 Number 2024 Numbèr Total There w8r8 no employ8es whose annu81 remuneration was more than £60,000. Taxatlon The charity Is exempl from laxallon on118 acllvllles b8cause all Its Inwme Is appllod for ch8rltable purposes. Debtors 2025 2024 Amount5 falllng due wlthln onè yèar: Other debtor5 28.970 28,970 10 Credltors: amounts falllng due withln one year 2025 2024 Accruals and d8ferrod Income 2,694 1,992
THE FRIENDS OF ETCHMIADZIN NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Unrestrlcted funds The unrgslricted funds of the charily comprlse Ihe unexpend8d balan$ of donations gianls whlch are not sublecl to speclflc ¢ondi1Sons by donors and grantors as to how they may be used. These include designaled funds which have been sel aslde oul of unreslricted funds by the trust8es for specific purposes. Al 1 Aprll 2024 Incomlng resources Resources At 31 March expended 2025 G8neral funds 62.378 21,(KJO (52,6971 30,681 Prevlous yèar: Al 1 April 2023 Incomlng R8sourc08 At 31 March re80urces expended 2024 General funds 29.364 78,114 (45,100) 62,378 12 Related party transactlons Transactlons wlth related partlas Durlng ihe year the charlty entered Inlo Ihe followlng Iransactlons wllh related p8rt18s: A grant of £5,000 was 8llocaled lo cover expenses incurred by the B18hop, In Ih81r mlsslon to attend to varlous parlshes, organlse aclivtlles arKI sludlg8. 13 Cash labsorbod byvgenerated from operatlons 2025 2024 (Deffcltysurplus for Iha year {31.697) 33,014 Movements In worklng capltal: Increase In credltors 702 132 Cash (absorbed byygenerated from oporatlons (30.995) 33.146 14 Analysls of changès Sn n&t funds The charity had no malerfal debt during Ihe year. 10-