Registered number: 09180860 Charity number: 1173403 **ST Yeghiche Armenian Church Parish Ltd UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31/12/2020** **Prepared By:** ASHBURNS ACCOUNTANTS LTD CHARTERED ACCOUNTANTS 70-72 VICTORIA ROAD HA4 0AH **ST Yeghiche Armenian Church Parish Ltd** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2020** ## **TRUSTEES** Viken Bedros Haladjian Setrag Khorin Karanfilian Arshalos Norman Babayan Keghvart Kegham Vartanian Lorees Arakelian Sonic Hambarsoom Aharon-Jojaghaian Nairi Afrikyan ## **SECRETARY** Nairi Afrikyan ## **REGISTERED OFFICE** 70-72 Victoria Road Ruislip Manor HA4 0AH ## **COMPANY NUMBER** 09180860 ## **CHARITY NUMBER** 1173403 ## **ACCOUNTANTS** ASHBURNS ACCOUNTANTS LTD CHARTERED ACCOUNTANTS 70-72 VICTORIA ROAD HA4 0AH page 1 ## **ST Yeghiche Armenian Church Parish Ltd** ## **ACCOUNTS FOR THE YEAR ENDED 31/12/2020** ## **CONTENTS** ||Page| |---|---| |Report of the Trustees|3| |Accountant's Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Accounts|8 to 11| |Detailed Statement of Financial Activities|10| page 2 **ST Yeghiche Armenian Church Parish Ltd** ## **FOR THE YEAR ENDED 31/12/2020** ## **TRUSTEES' REPORT** The trustees present their report and accounts for the year ended 31/12/2020 ## **STRUCTURE GOVERNANCE AND MANAGEMENT** The Charity is constituted as a Company limited by guarantee, without a share capital, and is therefore governed by a Memorandum and Articles of Association. It is registered with Charity commission. The Charity is organised so that the Members of the charity meet regularly to manage the affairs of the charity. The secretary is in charge of the day to day running of the charity. The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practise (SORP) in preparing the annual report and financial statements of the charity. ## **OBJECTS OF THE CHARITY PRINCIPAL ACTIVITIES AND ORGANISATION OF OUR WORK** The charity's object and its principal activity continues to be the oversight and responsibility for the management of the church itself. Its major activity is to assist the Parish Priest in securing the preaching of the Holy Gospel, religious, educational and instructional activities and liturgical life all under the jurisdiction of the Parish. ## **DEVELOPMENTS ACTIVITIES AND ACHIEVEMENTS THIS YEAR** The trustees consider that the performance of the charity this year has been satisfactory. The levels of donations for 2020 were well above the budgeted level. ## **TRANSACTIONS AND FINANCIAL POSITION** The statement of Financial Activities shows a net inflow of £5,241 for the year. The generosity of the community in providing donations of £100,442 for the year was appreciated by the trustees. ## **RESERVES** The present level of funding is adequate and the trustees consider the financial position of the charity to be satisfactory. ## **DIRECTORS AND TRUSTEES** All directors of the company are also trustees of the charity, and these are set out on page 1 of the accounts. All the trustees named therein, served throughout the period. The Board has the power to appoint additional trustees as it considers fit to do so. ## **RISK MANAGEMENT** page 3 **ST Yeghiche Armenian Church Parish Ltd** ## **FOR THE YEAR ENDED 31/12/2020** ## **TRUSTEES' REPORT** The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. ## **TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** The trustees are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the trustees are required to: Report of the Trustees for the period ended 31st December 2020 a) select suitable accounting policies and apply them consistently b) make judgements and estimates that are reasonable and prudent c) state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 24/08/2021 ..................................................... Viken Bedros Haladjian Trustee page 4 **ST Yeghiche Armenian Church Parish Ltd** ## **ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS** ## **OF ST YEGHICHE ARMENIAN CHURCH PARISH LTD , FOR THE YEAR ENDED 31/12/2020** In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts of ST Yeghiche Armenian Church Parish Ltd for the year ended 31/12/2020 as set out on pages - to (1) from the company's accounting records and from information and explanations you have given us. As a practising member of the ICAEW , we are subject to its ethical and other professional requirements which are detailed on their website. This report is made solely to the Board of Directors of ST Yeghiche Armenian Church Parish Ltd , as a body, in accordance with the terms of our engagement letter dated 14/08/2014 . Our work has been undertaken solely to prepare for your approval the accounts of ST Yeghiche Armenian Church Parish Ltd and state those matters that we have agreed to state to the Board of Directors of ST Yeghiche Armenian Church Parish Ltd , as a body, in this report, in accordance with the requirements of the ICAEW as detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ST Yeghiche Armenian Church Parish Ltd and its Board of Directors as a body for our work or for this report. It is your duty to ensure that ST Yeghiche Armenian Church Parish Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of ST Yeghiche Armenian Church Parish Ltd . You consider that ST Yeghiche Armenian Church Parish Ltd is exempt from the statutory audit requirement for the year . We have not been instructed to carry out an audit or a review of the accounts of ST Yeghiche Armenian Church Parish Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. ASHBURNS ACCOUNTANTS LTD CHARTERED ACCOUNTANTS 70-72 VICTORIA ROAD HA4 0AH 24/08/2021 page 5 **ST Yeghiche Armenian Church Parish Ltd** ## **Statement of Financial Activities for the year ended 31/12/2020** |**Income**
Income from generated funds
Income from charitable activities
**Total Income and endowments**
**Expenses**
Costs of generating funds
Expenditure on Charitable activities
**Total Expenses**
**Net gains on investments**
**Net Income**
**Gains/(losses) on revaluation of fixed assests**
**Net movement in funds:**
**Net income for the year**
Total funds brought forward
**Net funds carried forward**|**Unrestricted**
**funds**
**£**
100,442
**100,442**
95,201
**95,201**
**5,241**
**5,241**
103,554
**108,795**|**Restricted**
**funds**
**£**
-
**-**
-
**-**
**-**
**-**
-
**-**|**2020**
**Total**
**£**
100,442
**100,442**
95,201
**95,201**
**5,241**
**5,241**
103,554
**108,795**|_2019_
_Total_
_£_
_106,376_| |---|---|---|---|---| |||||_106,376_| |||||_89,100_| |||||_89,100_| |||||_17,276_| |||||_17,276_
_86,278_| |||||_103,554_| This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities page 6 **ST Yeghiche Armenian Church Parish Ltd** ## **BALANCE SHEET AT 31/12/2020** ||||**2020**||_2019_| |---|---|---|---|---|---| ||**Notes**||**£**||_£_| |**CURRENT ASSETS**|||||| |Cash at bank and in hand||109,795||_104,554_|| |||109,795||_104,554_|| |**CREDITORS: Amounts falling due within one year**|2|1,000||_1,000_|| |**NET CURRENT ASSETS**|||108,795||_103,554_| |**TOTAL ASSETS LESS CURRENT LIABILITIES**|||108,795||_103,554_| |**CAPITAL AND RESERVES**|||||| |**Unrestricted funds**|**4**||||| |General fund|||108,795||_103,554_| ||||108,795||_103,554_| For the year ending 31/12/2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. ## **Approved by the board of trustees on 24/08/2021 and signed on their behalf by** ............................. Viken Bedros Haladjian Trustee page 7 **ST Yeghiche Armenian Church Parish Ltd** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/12/2020** ## **1. ACCOUNTING POLICIES** ## **1a. Incoming Resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **1b. Resources Expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1c. Allocation And Apportionment Of Costs** All costs relate to the single activity of the charitable company and are recognised accordingly. ## **1d. Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. ## **1e. Turnover** ## **1f. Statement Of Cash Flows** The Company is exempt from including a statement of cash flows in its accounts, as it is a wholly owned subsidiary of , which is a company incorporated in the United Kingdom and has included a consolidated statement of cash flows in its consolidated accounts. page 8 **ST Yeghiche Armenian Church Parish Ltd** ## **2. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||**2020**||_2019_| |---|---|---|---|---| |||**£**||_£_| |Other|creditors|1,000||_1,000_| |||1,000||_1,000_| ## **3. LIMITED BY GUARANTEE** The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £10, to the company should it be wound up. At 31/12/2020 there were 10 members. ## **4. UNRESTRICTED FUNDS** |General fund|**Brought**
**forward**
**£**
103,554
103,554|**Incoming**
**resources**
**£**
100,442
100,442|**Outgoing**
**resources**
**£**
(95,201)
(95,201)|**Transfers**
**£**
-
-|**Carried**
**forward**
**£**
108,795| |---|---|---|---|---|---| ||||||108,795| ## **5. RESTRICTED FUNDS** |**Brought**
**forward**|**Incoming**
**resources**|**Outgoing**
**resources**|**Transfers**|**Carried**
**forward**| |---|---|---|---|---| |**£**|**£**|**£**|**£**|**£**| |||||| page 9 **ST Yeghiche Armenian Church Parish Ltd** ## **Incoming Resources for the year ended 31/12/2020** |**Incoming resources**
**Incoming resources from generated funds**
**Charitable Activity**
Donations, legacies and Grants
5,944
Fundraising events
1,446
General donation
43,484
Fees for charitable services
21,613
Contributions to Bishop's salary
27,955|**2020**
**£**
_6,124_
_4,185_
_46,388_
_32,327_
_17,352_
100,442
100,442
100,442|_2019_
_£_
_106,376_
_106,376_
_106,376_| |---|---|---| page 10 ## **ST Yeghiche Armenian Church Parish Ltd** |**Expenses**
**for the year ended 31/12/2020**
**Expenses**
**Costs of generating funds**
**Charitable Activities**
Wages, salaries,pensions & NI
Costs directly allocated to activities
Website expenses
Legal & Professional fees
Telephone, postage & stationery
Sundry expenses|**2020**
**£**
72,704
3,658
152
1,493
2,321
14,873
95,201
95,201|_2019_
_£_
_73,243_
_9,667_
_150_
_1,481_
_1,396_
_3,163_| |---|---|---| |||_89,100_| |||_89,100_| page 11