Charity Registration No. 1173537 CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN LEGAL AND ADMINISTRATIVE INFORMATION Trustees Bishop B Mathew Reverend S Kuriakose Mr XAbraham Reverend A C James Reverend M Pinakkattu (Appointed 7 April 20211 Charlty number 1173537 Prlnclpal address Sl Alphonsa Cathedral Sl Ignalius Presbytery Sl Ignalius Square Preston PR1 1TT Website www.eparchyofgreatbritain.org Auditor MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN CONTENTS Page Trustees, report Statement of trustees. responsibilities 14 Independent auditor's report 15-17 Statement of financial activities 18 Balance sheet 19 Statement of cash flows 20 Notes to the financial statements 21-33
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees present their report and financial ststements for the year ended 31 March 2022. The financi81 statements have been prepared in accordance with the 8ccounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and 'Accounting and Reporting by Charities". Ststemenl of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. (October 20191. The name of the Charitable Incorporated Organisalion {CIOI is Catholic Syro-malabar Eparchy of Great Britain. For its day to day activities, the CIO is widely known as Syro Malabar Eparchy. Ils Charity Registration No. is 1173537. Objectives and activities The constitution of the CIO specifies that the money and property received by the Trustees for the general purposes of the Trust shall be held lo apply, both the capital and the income of the Trust Fund, lo its objectives. The basis for setting out this constitution is the advancement of Catholic Faith, Christian moral and social principles Ibeliefsl for the benefit of the public in accordan with the statement of bdiefs of the Syro-malabar Catholic Church in particular and that of the Universal Catholic Church in general. The detailed objectives and scope of the CIO sel out in its constitution can be summarised as follows.. The organisation of the celebration of s8cr8menls and other religious services, prayer meetings, missions and similar events., The provision of accommodation and other support for clergy (including in retirement) and other individuals engaged in the advancement of the Objects., The advancement of education in accordan with the teaching of the Catholic Church and the training of individuals and groups and the production and distribution of literature and the br08dcasling of information using modern media lo enlighten others about the Catholic Faith,. The relief of poverty and suffering and other such Charitable purposes for the benefit of the public as are consislenl with the doctrines of the Catholic Church", The acquisition, provision, and maintenance of land and buildings to be used primarily for the above purposes, and also lo be available for hire or use by other community groups", Any other related activities which support the promotion of Christian beliefs in the UK or overseas., Any other activities which are requisite for the achievement of the objects of the Syro-malabar Eparchy of Great Britain. Since the functioning of the charity is getting wider and visible, the above objectives are set to be achieved in a step-by-step manner. The parishes, Missions and Proposed Missions along with Catholic Organisalions of the faithful are contributing significantly lo the achievement of the objectives. A documented plan is in place lo reach out to the needy and vulnerable in the society. In all of the activities undertaken by the Syro-malabar Eparchy, the trustees continue to be very grateful for the help provided by so many people, both Clergy and volunteers. The Iruslees also take the opportunity to thank the members of the many Religious Orders who assist In Parishes, Missions and Proposed Missions. Wilhoul the help of so many people, the Eparchy would not be able to cary out all the important work that it currently does. Public Benefit The guiding principle of the Charity is, as Jesus said, "you shall love your neighbour as yOLJrself. Our Parishes, Missions and Proposed Missions reach out beyond the Syro-M81abar faithful. Our priests offering chaplaincy services to hospitsls, prisons and schools. Our nuns are rendering opportunities for spiritual sharing and guidan and provide support for family empowerment programmes. Our volunteers who are predominantly from the the healthcare sector, nurses and doctors, render their serVIS lo assist the disabled, in visiting the sick at home and hospital. Special collections are taken to support the needy and vulnerable locally, nationally, and inlernalionally. The charity forms part of the wider Catholic Church throughout the world and as such participates in the charitable activities of the Universal ChLJrch. The trustees believe that they have complied with the duty in Section 17 of the 2011 Charities Act to gwe due regard to the various guidance notes published by the Commission with regards lo Public Benefit.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achievements and performance To achieve the objectives of the Charity in a time bound manner, the Trustees prepared a five-year plan in November 2017 after consulting with the Custodians (the community leaders), Curia members, Pastoral Consullors, Clergy, Religious and lay faithful representing parishes, Missions and Proposed Missions. This plan idenlilied 5 key focus areas for each year beginning from 1st Sunday of Advent 2017. 1. The first year was declared as Year of Children, during which the priority was given lo the moral and faith formation of the children., 2. The second year was the Year of Youth, focusing on the reconnection and renewal of a new generation of young people in the life of the Church", 3. The third year was The Year of Couples, where the focal point was on family support. Through different events and aclivilies, the year of couples empowered the couples to face challenges and difficulties of family life., 4. The fourth year focused on Families for renewal and strengthening through establishment of smaller groups of families called as Family Units IKudumb8koolaymal, with the purpose of growing together in faith and fellowship. They are helpful channels for evangelisalion and faith formation. Seminars and workshops were arranged in numerous Missions and Proposed Missions and parishes under the leadership of priests in-charge and the voluntary workers so that family units shall become the active link that connects each family lo the Parish, and thus lo the Holy Church, thereby enabling its members lo foster the love and sharing and unity of the Early Christians. Through this the trustees aim towards the sanctification of families, training of children and ecclesial experience of life and instilling the deep-rooted catholic faith and sacramental life among the parishioners. Moreover, these family units will work for developing the spiritual, social, cultural, and physical abilities and skills of the parishioners and upholding harmony and goodwill among them., 5. The fifth year, which is to be concluded in November 2022, is focussing on the Parish Communities, to understsnd the difficulties fad by local communities in their parish formation and lo support them in achieving this goal. During the year, more parishlmissions were fomied and all the church activities and events were resumed with zeal and enthusiasm. By availing the service of 58 Syro-malabar priests in the Eparchy, the Iruslees made il possible lo have regular Sunday Holy Mass, Catechism classes for children, family units, meetings and other active apostolates related lo the Eparchial Commissions. The Eparchial Curia under the leadership of the Bishop, supports, co-ordinates and regulates all activities of the Charity in accordance with ils objectives. 11 supports the activities of the clergy and faithful in the parishes as well as providing financial support for various activities relating to pastoral care and help such as youth formation and activities, religious education, formation of catechists, marriage guidance, family empowerment etc. It maintains the Bishop's House and Office, Eparchial Finance Office, Eparchial Tribunal and Minor Seminary.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Prlests. Formatlon and Tralnlng (al Immaculate Conception Seminary Trustees have identified that shortage of clergies in the Syro-Malab8r rile is one of the ongoing major risks. The Immaculate Conception Seminary inaugurated in November 2017 was a first major step towards addressing this risk. Rev Fr Vargheese Thomas was appointed as the Rector and overall in-charye of the seminary in September 2018. The commission for Vocation Promotion of the Eparchy, organised a three day Vocation diSrnment guidan programme "CALL" every year to promote the call lo priesthood. Ibl Clergy Retreats & Formation Programs Annual Retreat for serving priests & religious was conducted from the 21st lo the 24th of February 2022. Eminent theologians and preachers from the UK and abroad covered various topics relevant to the spinlual well-being and societal life of the clergylreligious of the Eparchy. Additionally, an ongoing training program for the priests is held on a monthly basis. Evangelisation Programmes Evangelisation is an ongoing process. The Evangelisation commission was established lo streamline the evangelisation efforts of the Eparchy. The mollo of our bishop B Mathew, "to do the work of an evangelist calls every faithfvl to become a missionary and is the key driver for the works of the Evangelisation commission. In order lo radiate deep faith and promote joyful desire to share the Gospel with others both within and outside their respective parishesl missions, the Evangelisalion Commission promotes and sponsors retals, Bible conventions, prayer meetings and spiritual guidance throughout the year. These initiatives are targeted towards people for deepening of their faith, as well towards individuals who have been away from their faith, for whatever reasons. To spread the message of the Holy Gospel and promulgate its deeper knowledge lo the faithful and enable them lo live more in faith, hope and charity, Bible conventions, retreats during Lenten and Advent seasons, annual retreats al parishlmission levels, virtual preparatory retreats for important feast days elc, were conducted in all regions during the last year. Entran lo these programmes were free of charge and was open to all, including other faithlreligion believers and non-believers. Purchase of Church property by St Mary's and St Wilfrid's Church Leeds Recognising the pastoral needs of the growing Syro-malabar community in Leeds, the Syro-malabar Eparchy purchased a church in October 2021, after scrulinising various options. This Centre would become a hub for the Syro-malabar Community in the area, especially for the youth and women to co-ordinate their activities and thus cater to the local community, as a whole.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Youth Actlvltles Catechesis For the Catholic Church, Catechesis is the strong foundation for faith formation and for a value-oriented life style based on the Gospel principles. Having that in mind, Trustees have always encouraged lo start structured catechesis in every Parish, Mission and Proposed Mission. To co-ordinate all the tasks, the Trustees have established a Calechesis Commission. The scope of this Commission is to formulate and articulate the curriculum and other pedagogical activities including arranging resources like lexlbooks, teaching aids, online tools, webinars etc., identifying and recruiting resource personnel amongst Clergy, Religious, Laity and their training. The Charity has successfully implemented this vision and now almost 95D/o of the communities under the Charity's jurisdiction have their own calechesis program. This model was often praised by other DI0SeS in the UK and faithful from their communities also showed their interest to join the same. The Catechesis Department worked tirelessly to provide Catechetical formation lo youngsters throughout the year through Catechism classes, for more than 10,000 children and with the assistance of 2,000 calechists, who provide their Servi on a voluntary basis. The Department has provided basic catechesis training to all the catechisls, and has completed advanced Catechetical training lo c.12- Catechisls. To reinforce the Word of God amongst young children and adults, the department organised Online Quiz programmes such as Suvara. for children and adults. BIBLE KALOTSAVAM The Commission for Bible Aposlolale organised Bible Kalotsavams IBible Art Feslivalsl at Regional and Eparchy levels to proclaim and lebrate the Word of God through various art forms. As we are all created in the image of the creator, the Bible Kalolsavam was a living example that evidenced that we are al called upon lo be creative. More than 10000 members across the Eparchy have actively participated in the Regional and Eparchy level Kalotsavams. The Bible Kalotsavam is the celebration of faith and helps to foster the spirit of Christian charity, sharing, enthusiasm, and a sense of belongingness among the people. SMYM To create a younger generation who embrace the teachings of Jesus Christ as the foundation for building their life strategies and to preserve and pass on our treasured hertitsge whilst adapting to the call of the contemporary worfd. The Trustees initiated lo arrange a plafft)rm for the youth beneficiaries of the Eparchy, which resulted in the formation of SMYM Isyro - Malabar Youth Movement). Al programs for the youth are coordinated under SMYM. Thrust was given to reach out to the Syro - Malabar youth Eparchy wide and nurture them on religious, moral and social values, to enable them lo be an asset lo the wider society and to become model citizens in the future, with a clear outlook for the upliftmenl of vulnerable and marginalised in the society. This was organised locally as the youth wing at Parishlmission level. It is a platform for teenagers and young adults above 16 years to gather together and have their own lime under the guidance of the priest in charge and animators iwharge, appointed by the priest. They have their own committee to co-ordinate their discussions and conduct different skills enhancement prraMs. They are very active in the catechetical formation at parishlmission level. Many units conducted one day excursions and pilgrimages with the help of parent groups and other elders. In general, the yOLJth are encouraged to nurture their social values and community living, in the vèry footing of Catholic teachings. Centralised training programs were arranged to train the resource persons to conduct the seminars and workshops. As a result, the target group with the help of their parents are made awa of the diffieullies and issues of the vulneoble and marginalised around them and by having a strong Christian faith in the background, the need for extending a helping hand lo the upliftmenl of the same. To achieve this objective, the Trustees instigated Parish Level and Eparchy Level youth gatherings every month.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 lal Marrlage Preparatlon Programs The Trustees believe that in order to achieve the charity's objectives, promoting family values in the contemporary society is very essential. With that in mind, marriage preparation course was established, Eparchy wide, as an ongoing programme. Young adults, who are willing to have a married life and to form a family are given a deeper insight to core values in the society, especially from a Catholic point of view. Simultaneously, they are intrOdUd to the challenges prevailing in the society, especially in the socio- economic situations of the wider society they live. Trustees planned lo conduct five programmes during a calendar year, going forwards. Since ils inptiOn, around 17 courses were conducted benefitting around 650 young adults. Idl Migrants Support To offer helping hand and guidance to new people arriving in the UK, especially the Syr¢iMalabar faithful in Great Britain, the trustees created a helpdesk directed by the Eparchial Commission for Migrants, thereby allowing them lo have a welcoming atmosphere as they arrive. To achieve this aim, the trustees have sel up parishlmission level teams for supporting the new migrants. The migrants commission organised online migrant University students, gatherings lo connect, equip and empower Catholic university students across the Eparchy so that they will become missionary disciples, leaving higher education with a deeper awareness of God's call on their life and going on lo be leaders in the Church. Women's Forum The Trustees recognising the principle that 'Mother is the first teacher of every human being,, formulated a comprehensive plan which enhances the role of women in the society, especially in the syrMalabar community. Women's forum units were established al parishlmission level and they are given a very important role in the administration and all other aclivilies. Various seminars and retreats were arranged al Parishlmission level and Eparchy level for the enhancement of their skills in various fields, like parenting, employment level, and adminislralive level and to bring together women around common interests so they can help each other grow spiritually. In the field of faith formation, their contribution is invaluable. Often, women's forum acts as a platform for the women in their units lo come together to Sha the conflicts they are facing due lo different roles they have lo play in their life, so that we can support each other spiritually and practically when someone has a need. Women's Forum al various regions organises days out, pilgrimages, and community gatherings to improve their mutual bonding, which will be beneficial for the oneness in the communities and thereby the Eparchy. They are the backbone of many of Eparchy's charitable programs. Trustees are very grateful to the Women's forum for their Contribution to achieve the objectives of the charity. Apart from its own aclivilies, the Charity also co-operateslsupports other charities in the UK and other DI0Se$ in the UK & overseas, in the field of evangelisation and youth programs. Pilgrimages To nurture the faithful in the faith, the Curia had conducted pilgrimages lo various shrines in the UK. Like pre-covid years, Epar¢hial level annual pilgrimages were arranged in Ayelsford (May 20211 and Walsingham (July 20211. These pilgrimages facilitated the faithful to experien fellowship in worshiping 8nd togetherness in sh8ring their God Experience.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 FUNDRAISING sYMa1abar Eparchy of Great Britain Ilhe charity) is commilled to safeguarding and promoting the welfare of the charity and its beneficiaries. The aim of the fundraising policy is to promote a culture of honesty, openness and respect among the donors, beneficiaries and the general public. The Charity does not use extemal fundraisers, unless otherwise decided by the trustees, allowing for 811 the faithful to donate, secure in the knowledge that their contributions will be used lo enable the ParisheslMissionlProposed Missions lo continue playing a major role in their communities, encompassing buildings, worship, prayer, calechesis and pastoral care. The Syro-malabar Eparchy conduct fundraising activities at Parishlmission level, regional Level and Eparchial Level. Any fundraising activity is adhered to the objectives set out in the constitution of the charity, the fund raising policy and the regulating legislations of Great Britain. The Eparchy and parishes undertook various Initiatives lo support people who suffer from poverty, illness, war and natural disasters. Consideration of Vulnerable Persons All fundraisers musl take all reasonable steps with respect and due diligen, while seeking donation from persons in vulnerable circumstances. In addition to the above, the following principles have been eslablished',- All reasonable steps and extra care need to be taken to support a vulnerable person to make informed decision A fvndraiser musl not exploit the trust, lack of knowledge, apparent need for care and support or vulnerable circumstance of any donor al any time. If a fundraiser knows or has a reason to believe that a person is in a vulnerable Circumstan and that person lacks a capacity to make an informed decision, no donation must be taken from SLJch person. If a donor who is in such circumstance make a donation, that donation must be turned. All fvndraisers must lake all reasonable steps to avoid asking regular donations from anyone aged under 18. Complalnts Procedure All complaints and concems in connection lo the fundraising are dealt with the Complaints Handling Poliey of the Syro- Malabar Eparchy. Financial review Total income for the period was £1,999,59312021.' £1,142,292). Expenditure for the period £1,371,64912021 £789,958>. The nel movement in funds is £627,94412021 surplus £352,3341. As at 31 March 2022, the charity had total funds of £3,201,629. Of these £1,300,000 were endowment funds and £nil were restricted. Free reseNes al the end of the period were £689,566.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Principal Risks and Uncertainties The Trustees have a formal risk management pro$5 to assess risks and implement risk management strategies. This involves the identification of the types of risk faced by the charity, assessing the likelihood and potential impact of Occurren and Identifying means of miligalion. Risks have been categorised under live broad headings.. Governance, Operational, Financial, External and Complian. These were then assessed as to the likelihood of their occurring and the severity of the effects of the risk leading to a potential overall impact calculation in order to give a scale of relative importancelurgency to each one. The Implementation of legislation in the areas of Data Protection and Safeguarding are identified as potential risks. To mitigate these risks, Trustees have included expert professional volunteers in the Data protection Commission and Safeguarding commission. Trustees have facilitated training programmes across the Eparchy to appoint representatives in Parishes, Missions and Proposed Missions. All the activities are monitored for legal compliance through these representslives and remedial measures have been tsken accordingly. The current highest overall adverse impact risks identified are", slow pr(resS in the establishment of parishes and missions., smaller number of available clergy who are expected to undertake more pastoral and administrative responsibilities. These were identified in the previous years, reF)Ort, bul continuing still, though signifi'cant progress has been made. The Trustees have taken steps to mib'gale these risks, by recruiting more priests from overseas, amalgamating Missions and Proposed Missions where possible, and in encouraging collaboration where il is in the best interest of the community the parishlmission serves. 11 plans lo upscale the scope of its internal audit procedures lo further mitigate risks. Plans for the Future The Charity is thriving to meet the obje¢lives outlined above, in addition lo ensuring that the charity continues to meet ils statutory obligations. Work is continuing on the fomulalion of a comprehensive Eparehial Pastoral Plan to ensure that resources are focused on the main themes which have been identified under the Five Year plan. The target groups have been identified and plans & procedures have been drawn for the overall progress in the areas of Evangelisation, Formation, Worship and Sacramentsl Life, Charity and Social Outreach. These plans have been presented to Clergy and lay leaders, lo develop discussions with religious and lay faithful in Parishes, Missions and Proposed Missions, and lo involve as many people as possible in the process of identifying and delivering the Charity's objectives in future years. In the previous years, Trustees had Identified the need for a cenlralised physical infrastructure - a pastoral centre, for the efficient administration of the CIO. Trustees are still in search of a suitable propety for the same. As part of the strategy lo increase funding streams for the Charity, for capital and charitable purposes, further work is planned to increase the use of online giving, and to continue to identify projects for government initiated grant funding. The Trustees believe that the right approach is undertaken by balancing the needs to support the vulnerable, against growth targets. The Charity continues to review the impact of Covid19 and the associated restrictions on parish life and the extent to which new technology Can assist in maintaining and furthering the Charity's mission in a Post Covid 19 environment.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 RESERVES POLICY The free reserves held by the Charity are those funds that are freely available to be spent in pursLJing the Charity's purpose. Restricted FLJnds. Designated Funds, Permanent Endowment Funds and Tangible Fixed Assets are not included in free reserves. Total funds as al 31 March 2022 were £3,201,629. Of this total, £1,300,000 related lo the endowment fLJnd, £Nil to designated funds and £1,212,063 to fixed assets. The remaining free reserves were £689,566. The Trustees carefully monitor the level of free reserves of the Charity as part of their long term financial planning which includes it's primary objective of ongoing Evangelisalion programs for the spiritual, mental and social wellbeing of the faithful and the general public. The Trustees consider that the holding of reserves is necessary to provide a buffer against short term fluclualions in income and expenditure and to provide sufficient resources to implement long term projects which are by their nature uncertain in their financial effect. The Finan Office, on behalf of the Trustees, review cash position on a day to day basis to ensure liquid funds are available for routine expenditure.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Structure, governance and management Oryanisational structure Catholic Syro-malabar Eparchy of Great Britain is a Charitable Incorporated Organisalion ICIOI constiluled by Declaration of a Foundation CIO dated 25 May 2017. The certificate Issued by the Charity Commission dated 22 June 2017, the Catholic Syro-malabar Eparchy is registered as a body corporate known as Catholic Syro-malabar Eparchy of Great Britain. All property and assets are vested in the name of the body corporate. The primary ways of Conveyan of the charity's objectives are the parishes, missions and proposed missions within the Eparchy. The Eparchy works collaboratively with other Dioceses in England and Wales and other Eparchies of Syro•Malabar church world-wide. The Eparchial Curia and Bishop's office supports to carry out the objectives by co-ordination of Eparchy-wide programmes and ensures a consistent approach to the administration of the Eparchy in order to effectively support the parishes, missions and proposed missions, especially in propety management and governance. The Eparchy geographically covers whole of England, Wales and Scotland. For the ease of administration, this is further divided in to 8 regions, namely.. 1. Brislol-cardiff, 2. Cambridge, 3. Coventry, 4. Glasgow, 5. London, 6. Manchester, 7. Preston, and 8. Soulhamplon. Parishes, Missions and Proposed Missions Each region comprises of Parishes, Missions and Proposed Missions which are headed by Priests and supported by elected lay representatives. The basis for setting out this structure is the advancement of Catholic Faith and Christian beliefs for the benefit of the public in accordance with the statement of beliefs of the Syro - Malabar Catholic Church in path'cular and that of the Universal Catholic Church in general. Parishes are centers where the Eparchy owns a building and celebration of Holy Mass and administering of sacraments are arranged on a regular basis. Missions and proposed missions are aiming towards this structured organisalion, where missions are more slruclured with wider participation than proposed ones, bul unlike parishes, both of them do not own a building. There are approximately 50,000 people who identify as of Syro-malabar faithful within the Eparchy. There are 4 parishes, 45 missions and 32 proposed missions which co-operate as 8 regions. This structure facilitates local collaboration and provides a collegiate environment. There are 58 priests actively rendering their service lo the eparchy. The priest fulfils thè central role in the parish by administering sacraments, leading worship and in wider- supporting the faithful and the community al large.. 22 commissions were established to facilitate various training, formation and empowerment programmes.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Trustees The trustees who served during the year and up lo the date of signature of the financial statements were.. Bishop B Malhew Reverend S Kuriakose Mr XAbraham Reverend A C James Reverend M Pinakkattu (Appointed 7 April 20211 The affairs of the charity are governed by the trustees of the CIO. The trustees who served during the year are listed on page 2. Reverend M Pinakkallu was appointed as a Trustee on 7th April 2021. Bishop B Malhew and Revend S Kuriakose were reappointed on 7th April 2021 after serving 4 years as foundation trustees. Mr X Abraham and Reverend A C James were to be reappointed from 18th November 2022 and 23rd Dember 2022 respectively after serving their initial term of 3 years. This was unanimously agreed by all Trustees during the meetings held on 7th April 2021, 8th November 2022 and 23rd November 2022. The trustees, except Mr X Abraham, are also functioning clergies of the Eparchy and are entrusted with pastoral services. They receive an allowance as providers of pastoral services. Their role as trustees are voluntary and do not receive any financial benefit of any kind lo conduct their responsibilities as trustees of the CIO. Mr X Abraham is also rendering his ServIS voluntsrily as a Trustee, and dS not receive any financial benefit of any kind. The Iruslees hold meetings on a regular basis lo conduct the operations of the charity, lo review the mallers arising from the various Eparchial Commissions and lo drive the core purpose and objectives of the charity, as well as lo agree policy and compliance requirements. Other ad hoc meetings are held if required. The Trustees are committed to dealing with all statutory requirements including any concerns raised by the Charity Commission, local authorities etc. New trustees are introduced to their role and responsibilities by the Eparchial Finance Officer al which time relevant Charity Commission literature is issued together with copies of the constitution of the CIO and the lalesl fi'nancial information available. As and when required, trustees attend formal and informal training sessions. The trustees regulate their functioning in accordance with the Charity Governance Code published by the Charity Commission in July 2017 as updated. 10-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Eparchlal Commlsslons There are a number of commissions established focusing on various areas, as OLJtlined below.. 1. The Finance Council meets on a regular basis lo consider and take major decisions on financial matters. 11 deals with a multitude of financial and administrative aspects of the work of the Eparchy. 2. The Bible Apostolate regularly meets lo consider and take major decisions on matters relating lo promotion of Biblical studies. 3. The Calechesis Commission usually meets a year lo consider and take major decisions on faith formation. 4. The Evangelisation Commission usually meets once a month to consider and take major decisions on the evangelisation programmes of the Eparchy. 5. Women's Forum meets twice in a month lo discuss about organizing events and activities for the integral growth of the women and family. 6. Family AFioslolate usually meets once in a month lo reflect on matters conmIng family empowerment. 7. Vocation promotion commission promote the youth for Identifying and encouraging Vocations to priesthood and religious life. 8. The Data Protection (information Governess) Commission oversees the handling of personal data on the basis of the law of the land and the Data Protection policy of the Eparchy. 9. The Safeguarding Commission is conslituled as per the law of the land requires and under the guidan of CSAS. 10. The Media Commission promotes the activities and teachings of the Church using all forms of media, including the dI0san website, social and print media. 11. The Property Commission works with the Eparchial Curia and individual parishes, missions and proposed missions, lo deal with all propety related issues including acquiring new propety for the use of communal worshiping etc. Apart from the above, the Trustees have established a few other commissions catering into certain niche categories in the eparchy, namely Altar servers, Christian Unity, Faith & Justi, Church Choir, Doctors, Forum, Family Units, Liturgy, Mission League, Migrants, Savio Friends, Health & Safely, Spiritual Guidance, Youth Apostolate and IT Forum. The pastoral oversight of the charity is conducted by the Bishop in regular consultation with the Bishop's Council (Eparchial Curial. This body assists the Bishop in all decisions affecting the life of the Eparchy. The Bishop also undertakes parishlmissionlproposed mission visitations and presides over Eparchial events such as the annual Eparchy Day etc.
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 The Chief Vicar General (Prolosyncellusl is responsible for matters relating to the clergy in the Eparchy. Appointments to parishes, missions, proposed missions and other diocesan offices are made by the Bishop in consultation with the Bishop's Council. The day to day legal and financial affairs of the charity are administered from the principal office, Iknown within the Eparchy as the 'Curial Office'l by the Eparchial chanlIor and Finance Officer. They are assisted by paid staff and volunteers in the Finance, Propety, Human Resources, Communications, Fundraising, Legal and Planning functions. Eparchial Finance Office is based at the Registered Office. The Eparchial Finance Office is functioning in concurrence with the Finance Council for the execution of the policies laid down by the Finan Council. The Finance Office co-ordinates the central finances and budgets of the Eparchy and supervise & collate accounting procedures of all parisheslmissionslproposed missions and deals with all aspects of Gift Aided donations and salaries & allowan$. The Eparchial Tribunal deals with marriage annulment petitions and the office of the Chancellor deals with other Canonical mallers. There is also the Council of Priests called the College of Eparchial Consultors, which meets Im1 per year with the Bishop lo discuss and give advice on a wide range of issues. At Parish, Mission and Proposed Mission level, the priest in charge is responsible for all aspects of running his unil. Each unit is required to have a committee which meets regulady to support and advise the priest particularfy in the areas of pastoral and finance matters. A comprehensive 'Financial and Adminislralion Guidelines are issued by the Eparchy. These guidelines are updated regularly and are the basis for internal audit. Pastoral Letters, circulars and letters are issued by the Bishop regularfy through which policies are communicated to priests covering both Iilurgicallpastoral and, when required, financial and administrative matters. Further support is also available from the regional directors and the Eparchial Curia. Data Protection The Catholic Syro-malabar Eparchy of Great Britain ICSMEGBI, through ils Trustees, takes the role of a Data Controller and consequently process all Personal Data (including Special Categories of Personal Data and Personal Sensitive Dalal about Data Subjects in Complian with the UK General Data Protection Regulation (UK GDPRI, the Dats Protection Act 2018 IDPA 20181 and any other relevant data protection legislation, domestic or otherwise. 11 maintains a roll-on registration with the Information Commissioner's Office in the UK as a data controller and has an appointed Dats Protection Officer in line with UK GDPR requirements. To demonstrate Syro-malabar eparchy's on-going compliance, Il also maintains a suite of Data ProtectionllT Security policies for slafflvolunleers lo follow. Safeguarding The Eparchy follow the policies and prOdureS of the Catholic Church of England and Wales. functioning as part of the Catholic Safeguarding Standard agency ICSSAI. The policies and prOdureS are found in the www k which includes policy slalemenl, structure and roles, key principles and values, legislative frame work, responding lo allegation and cOnms, information sharing and data protection, safer recruitment process and safer working pradices and creating safer environment The Eparchy organised several programmes and meètings for the wellbeing of the members of the Eparchy and the trustees as well 8S to keep key $18keholders informed. It also formulated a Sub-committee in accordance with the regulation of the Standard Agency. The sub-committee meeting was held several limes during the year lo evaluate the functioning and progress. 12-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Key management personnel and rgmungration The Iruslees consider that the Trustees of the CIO, the Vicar Generals, the Chancellor, the Finance Offir, together with the Finance Secretary are the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day lo day basis. None of these are employees of the CIO, except the Finance Secretsry. The Iruslees, eXpt Mr Xavier Abraham, are also functioning clergies of the Eparchy and are entrusted with pastoral services. They receive an allowance as providers of pastoral services. Their role as trustees are voluntary and do not receive any financial benefit of any kind to conduct their responsibilities as trustees of the CIO. Mr Xavier Abraham is also rendering his services voluntarily as a Trustee, and does not receive any financial benefit of any kind. Details of trustees'& key management personnel's remuneration., and related paty transactions are disclosed in Notes 10 and 11 Irespectivelyl lo the accounts. Trustees are required to disclose all relevant interèsts and register them with the Finance Officer and in accordance with the CIO'S policy, wilhdow from decisions where a conflict of interest arises. Going Concern The CIO'S activities, together with the factors likely to affect its future development principal risks and uncertainties facing the CIO and ils availability of unencumbered cash reserves are sel out within the Trustees, Report. in the following pages. Ils financial position in terms of the year's results, Ils assets and liabilities and movement in cash are set out in the primary financial statements. Though these are the initial years of operation of the CIO, the current cash flow through donations of the faithful and benefactors Is 8 strong basis for its futu progress. The Trustees believe that, there are no material uncertainties about the CIO'S ability to continue as a going concern and that it is well placed to manage the potential risks. The Trustees therefore have a reasonable expectation that the CIO has adequate resources to continue ils operations for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. Disclosure of information to auditor Each of the trustees has confirmed that there is no information of which they are aware which is r2levant to the audit, bul of which the auditor is unaware. They have further confimied that they have taken appropriate steps lo identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. Reverend S Kuriakose Trustee Dated.. 1610112023 13-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The trustees are responsible for preparing the Trustees, Report and the financial ststements in accordance with 8pplicable law and United Kingdom Accounting Stsndards Iunited Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England and Wales requires the Iruslees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistendy., observe the methods and principles in the Charities SORP FRS102', make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subjeel to any material departures disclosed 8nd explained in the financial statements," and prepare the financial statements on the going cOnM basis unless il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reportsl RulatiONS 2008 and the provisions of the trust deed. 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. 14-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN Opinion We have audited the financial statements of Catholic Syro-malabar Eparchy of Great Britain Ithe 'charity'l for the year ended 31 March 2022 which comprise the statement of financial aclivilies, the balance sheet the statement of cash flows and the notes lo the financial slalemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, Including FRS 102 The Financial Reporting Standard appliGable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the charity's affairs as al 31 March 2022 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice," and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material un¢ertainlies relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authori*d for issue. Our responsibilities and the responsibilities of the trustees with respect to going Gonrn are described in the relevant sections of this report. Other information The other infomation comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the fi'nancial slalemenls does not cover the other Informaln and we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we h8ve performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 15-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN Matters on which we are requirgd to report by exception We have nothing lo report In respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if, in our opinion". the information given in the financial statements Is Inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records", or we have not reiVed all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the ttustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial statements, the Iruslees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Iruslees either intend lo cease operations, or have no realistic alternative but lo do so. Auditor's responsibilities for the audit of the financial $tstements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misstalemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of nOnompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Enquiries with management about any known or suspected instances of non<0mplian with laws and regulations., Enquiries with management about any known or suspected instances of fraud., Review minutes of meetings of those charged with governanee., Review of legal and professional expenditure to identify any evidence of ongoing litigation or enquiries. Owing lo the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial slalements may not be detected, even thought the audit is properly planned and perfored in accordance with the ISAS IUKI. For instance, the further removed the non-compliance is from the events and transactions reflected in the financial stalemenls, the less likely the audit is to become aware of it or to recognise the non compliance. A further description of our responsibilities is available on the Financial Reporting Council's website al". https".11 www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. 16-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN Your attention is drawn lo the fact that the charity has prepared financial statements In accordance with "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in pference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extsnt regulations but has now been withdrawn. This has been done in order for the financial statements lo provide a true and fair view in accordance with current Generally Accepted Accounting Practi. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reportsl Regulations 2008. Our audit work has been undertaken so that we might stste to the charity's trustees those mallers we are required lo stale lo them in an auditors, report and for no other purpose. To the fullest exlenl pemiilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. NHA 1710112023 MHA Moore and Smalley Chartered Accountants Statutory Auditor Richard House 9 Winckley Square Preston PR13HP MHA Moore and Smalley is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies A¢1 2006. 17-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted Restricted Endowment funds funds funds 2022 2022 2022 Totsl Total 2022 2021 Notes nd Donations and legacies Charitable activities Other trading activities Other Income wm 1,718,849 1,718,849 273,027 6,707 1,010 975,763 141,079 25,450 273,027 6,707 1,010 Total income and endowments 1,726,566 273,027 1,999,593 1, 142,292 enditure on.. Charitable activities 1,367,470 1,367,470 789,958 other 12 4,179 4,179 Total resources expended 1,371,649 1,371,649 789,958 Net Income I lexpendlturel 354,917 273,027 627,944 352,334 Transfers beeen funds 273,027 {273,0271 Net movement In funds 627,944 627,944 352,334 Fund balances at 1 April 2021 1,273,685 1,300,000 2,573,685 2,221,351 Fund balances at 31 March 2022 1,901,629 1,300,000 3,201,629 2,573,685 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 18-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Fixed assets Tangible assets 13 2,512,063 1,877,930 Current assets Debtors Cash at bank and in hand 14 190,963 1,006,858 109,393 709,246 1,197,821 818,639 Creditors: amounts falling due within one year 16 1285,6481 1107,8841 Nel current assets 912,173 710,755 Total assets less current Ilabllltles 3,424,236 2,588,685 Credltors: amounts falllng due after more than one year 17 1222,6071 115,000} Net assets 3,201,629 2,573,685 Funds ofthe Charity Endowment fund Income funds Unreslricled funds Designated funds Geneol unrestricted funds 1,300,000 1,300,000 19 83,204 1,190,481 1,901,629 1,901,629 1,273,685 3,201,629 2,573,685 Ii¥i iknjol ?LUifll Ifllij wvrir approved by the Trustees on 1610112023 Reverend S Kuriakose Trustee 19-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notes Cash Ilows from operating activities Cash generated from operations 22 724,491 400,125 Investing activities Purchase of tangible fixed assets 1672,4371 1180,5671 Net eash used In Investlng actlvltles 1672,4371 {180,5671 Financing activities ProedS from borrowings Repayment of borrowings Proceeds of new bank loans Repayment of bank loans 42,951 114,5001 210,000 17,3931 Net cash generated froml{used in) financing activities 245,558 114,5001 Net increase in cash and cash oquivalents 297,612 205,058 Cash and cash equivalents al beginning of year 709,246 504,188 Cash and cash oquivalents at end of year 1,006,858 709,246 -20-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies Charity infomiation Catholic Syro-malabar Eparchy of Great Britain is a Charitable Incorporated Organisalion registered in England and Wales. The registered office is St Alphonsa Cathedral, St Ignalius Presbytery, St Ignalius Square, Preston, PR1 1Th. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive October 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the exlenl required lo provide a true and fair view. This departure has involved following the Slalement of Recommended Practi for charities applying FRS 102 rather than the version of the Slalement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties and lo include investment properties and rtain financial Instruments al fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern The financial statements have been prepared on 8 going concern basis and the trustees believe that no Material uncertainties exist. The Trustees consider that the charity has sufficient reserves lo meet liabilities as they fall due for at a period of al least e1ve months from the dale of signing the accounts and the accounts should therefore continue to be prepared on a going concern basis. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Iruslees in furtheran of their charitable objectives. Reslricled fvjnds are subject lo specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. Endowment funds are subject to specific conditions by donors that the capital musl be maintained by the charity. 1.4 Incoming rèsources Income is recognised when the charity is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and Il is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Grants are recognised when the charity is entitled to the income. 21
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued} 1.5 Resources expended Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be ful recovered, and is reported as part of the expenditure to which it relates. Expenditure on charitable activities comprise the costs incurred by the charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governan costs. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Property improvements Fixtures and fittings not depreciated 2Q/o p.a. straight line 200A p.a. straight Iline The gain or loss arising on the disposal of an asset is determined as the differen beeen the sale proceeds and the carrying value of the asset, and is recognised in nel incomellexpenditurel for the year. 1.7 Impaimient of fixed assets Al each pOrtirng end date, the charity reviews the earrying amounts of its tangible assets to determine whether there is any indication that those assets have sUffed an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the exlenl of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the Instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stalemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. -22-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued} Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted at a Market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as norvcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financlal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are diharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is cOgniSed in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably commilled to terminate the employment of an employee or lo provide termination benefits. 1.11 Retirement benefits Payments lo defined eontribulion retirement benefit schemes are charged as an expense 8S they f811 due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are consided to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Cuwenl and future periods. Key soye$ of estimation uncertainty Valuation of land and buildings The valuation of land and buildings is based on the estimated market value al the time of transfer. It is not considered appropriate to depreciate the land and buildings donated to the Charity given the age and use of the buildings. Propety improvements are depreciated based on 8 estimate of their useful economic life. -23-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Donations and legacigs Unrestricted Rgstricted funds funds Totsl Total 2022 2022 2022 2021 Donations and gifts Grants received 1,718,849 1,718,849 972,041 3,722 1,718,849 1,718,849 975,763 For the year ended 31 March 2021 920,455 55,308 975,763 Charitable activities Grant income 2022 Grant income 2021 Gr8nl income 273,027 141,079 Historic England Other grant 223,496 49,531 116,726 24,353 273,027 141,079 other trading activities Unrestricted Unrestricted funds funds 2022 2021 Fundraising events 6,707 25,450 -24-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Othgr incomg Unrestricted funds Total 2022 2021 Rental income 1,010 Charltable actlvltles 2022 2021 Staff costs Depreciation and impairment Bible convention and seminary Speci81 events Motor and travel costs Premises costs General administrative costs Clergy allowance Clergy expenditure Rent and rates Bible art feslivall Grand mission Pious expenditure Lilurgyl Catechism costs Professional services 30,625 38,305 32,501 145,820 42,096 237,498 46,346 381,140 49.237 230,021 20,169 25,795 9,084 16,866 40,117 106,935 23,502 215,896 16,873 123,207 18,719 140,533 21,994 6,488 57,028 62,043 9,230 1,361,890 786,178 Share of governance costs (see note 81 5,580 3,780 1,367,470 789,958 Analysis by fund Unreslricled funds Restricted funds 1,367,470 734,650 55,308 For the year ended 31 March 2021 Unreslricled funds Restricted funds 734,650 55,308 789,958 -25-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Support costs SupportGovernance costs costs 2022 Support Governance costs costs 2021 Audit fees Accountancy 4,250 1,330 4,250 1,330 3,780 3,780 5,580 5,580 3,780 3,780 Analysed belween Charitable activities 5,580 5,580 3,780 3,780 Audltor's remuneratlon The analysis of audilorfs remuneration is as follows.. Fees payable to the charity's auditor and associates: 2022 2021 Audit of the charity's annual accounts 4,250 3,780 Non4udlt servlces All other non-audit ServIS 1,330 2,520 10 Trustees None of the Iruslees lor any persons connected with them) received any remuneration or benefits from the charity during the year. No trustees were reimbursed for travel expenses during the year. -26-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 11 Employeos Number of employees The average monthly number of employees during the year was.. 2022 Number 2021 Number Employment costs 2022 2021 Wages and salaries Social security costs Other pension costs 27,984 2,105 536 18,209 1,547 413 30,625 20,169 There were no employees whose annual remuneration was £60,000 or more. 12 Other Unrestricted funds Total 2022 2021 Loan interest 4,179 4,179 -27-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 13 Tangiblg fixed assots Freehold land Prtsperty Fixtures and buildiny$ improvetnenls fitting$ TtJtsl Cost Al 1 April 2021 Additions 1,300,000 300,000 601,268 359,183 19,248 13,254 1,920,516 672,437 At 31 March 2022 1,600,000 960,451 32,502 2,592,953 Deprociation and impairment Al 1 April 2021 DePCIatIOn charged in the year 35,892 29,109 6,693 9,196 42,585 38,305 At 31 March 2022 65,001 15,889 80,890 Carrylng amount Al 31 March 2022 1,600,000 895,450 16,613 2,512,063 Al 31 March 2021 1,300,000 565,375 12,555 1,877,930 14 Debtors 2022 2021 Amounts falling due within one year: Other debtors Prepayments and accrued income 154,021 36,942 48,830 60,563 190,963 109,393 15 Loans and overdrafts 2022 2021 Bank loans Other loans 202,607 67,951 25,000 270,558 25,000 Payable within one year Payable after one year 47,951 222,607 10,000 15,000 -28-
CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 16 Creditors: amounts falling due within ong ygar 2022 2021 Borrowings Other creditors Accruals and deferred income 47,951 5,249 232,448 10,000 5,249 92,635 285,648 107,884 17 Creditors: amounts falling due after more than one year 2022 2021 Notes Bank loans Other borrowings 15 202,607 20,000 15,000 222,607 15,000 -29-
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CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 19 Designatod funds The income funds of the charity include the following designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes.. Movement In funds Re$ourre5 expended Movement In funds Incoming Re50urGes BalanGe at resources Èxpended 31 March 2022 BalanGe at 1 April 2020 Balance Ht 1 April 2021 resources Evangelisatio bible convention and seminary 99,313 11,695 127,8041 83,204 1,800 185,0041 99,313 11,695 127,8041 83,204 1,800 185,0041 31
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CATHOLIC SYRO-MALABAR EPARCHY OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 21 Rolated party transactions There were no disclosable related party transactions during the year12021 none). All Trustees, other than Mr X Abraham are practising clergies of the DI0Se and re1ve an allowance for their pastoral services. The Trustees do not receive remuneration for their work as Trustees. 22 Cash generated from operations 2022 2021 Surplus for the year 627,944 352,334 Adjustments for.. Depreciation and impaim)ent of tangible fixed assets 38,305 25,795 Movements in working capital.. {Increasel in debtors Increase in creditors 181,5711 139,813 136,8711 58,867 Cash generated from operations 724,491 400,125 23 Analysis of changes in net funds At 1 April 2021 Cash fI0ACqulSiIiOnS andAt 31 March 2022 di5posa15 Cash al bank and in hand 709,246 297,612 1,006,858 Loans falling due within one year Loans falling due after more than one year {10,0001 5,000 {15,0001 1207,6071 142,9511 147,9511 1222,8071 684,246 95,005 142,9511 736,300 33-