REPORT FOR MEMBERS
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
CHARITY NUMBER 1178901
1
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
TRUSTEES' ANNUAL REPORT ............................................................................................................ 3 STATEMENT OF TRUSTEES' RESPONSIBILITIES ........................................................................... 7 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES .......................................................... 8 STATEMENT OF FINANCIAL ACTIVITIES ....................................................................................... 9 BALANCE SHEET ................................................................................................................................ 10 NOTES TO THE FINANCIAL STATEMENTS ................................................................................... 11
2
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 30 APRIL 2024
The Trustees present their annual report and financial statements of the charity for the year ended 30 APRIL 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
OBJECTIVES AND ACTIVITIES
-
(1) to advance the Christian faith following the principles and regulations of the Ethiopian Orthodox Tewahedo church for the benefit of Ethiopian Orthodox Tewahedo Church followers in the UK and the rest of the world, in particular by providing and maintaining a place or places of public worship for worship and officiating of sacraments and the due performance of rites per the practice of the Ethiopian Orthodox Tewahedo church.
-
(2) to advance education and such other charitable purposes in the United Kingdom and/or other parts of the world as the parish administrative council may decide from time to time
ACHIEVEMENTS AND PERFORMANCE
The church is keen to offer a range of services during the week and over the year that our community find both beneficial and spiritually fulfilling. For example, evening prayers provide a quiet, intimate and reflective environment for worship whilst opportunities are provided for people to engage in more outgoing worship such as that provided by the youth group within our church. This year we have been successful in welcoming more families into our church and have agreed on a new style of Family Worship on the morning of every Sunday each week. This has meant that special arrangements have had to be made for baptisms and for welcoming the families at worship each week. It is pleasing to report that the new arrangements have been well received since they came into operation in February 2024. They will be reviewed by the church after 12 months. In addition, a great deal of time and thought was spent during the year on making best use of the new services. Many have said it is easier to follow the services now that they are screened on projectors. All are welcome to attend our regular services. At present, there are 70 members on the Church Electoral Roll, 50 of whom are not resident within the parish. The average weekly attendance, counted during the year, was 100, but this number increased at festivals and two Christmas services had to be held to seat all those who wished to attend. As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism, we thank God for the gift of life, in marriage public vows are exchanged with God’s blessing and through funeral services friends and family express their grief and give thanks for the life which is now complete in this world and commend the person into God's keeping. We have celebrated 8 baptisms and 1 wedding held.
3
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
FINANCIAL REVIEW
Total receipts on unrestricted funds were £20,994 of which £20,680 was unrestricted voluntary donations. Restricted donations of £nil were received. £1,260 was spent from unrestricted funds to provide stipends and transportation for the clergy. The church spent £10,048 on renting the church service hall and repair and maintenance to make the space suitable for the services. The net result for the year was an excess of receipts over payments of £7,527 on unrestricted funds. Adding bank and deposit balances brought forward at the beginning of the year, the balances carried forward on 30 April totalled £13,997. The unrestricted fund balance was £10,457.
RESERVES POLICY
It is the Church’s policy to try to maintain a balance on unrestricted funds which equates to at least three months of unrestricted payments. This is equivalent to £15,000. It is held to smooth out fluctuations in cash flow and to meet emergencies. No restricted and Endowment funds were held in the reporting or prior period.
VOLUNTEERS
We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is.
PLANS FOR FUTURE PERIODS
As we look to the future, we continue to strive to fulfil the objective of supporting our members. We hope to continue building on contacts with the Ethiopian Orthodox Church and looking at ways to enhance our networks. We will also work to increase our members' base and generate further income from these activities.
4
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The governing document of the Charity is its Declaration of Charity made on CIO - ASSOCIATION Registered 22 Jun 2018. The Trustees oversee the total operation of the Charity through a regular review of the operation at their regular meetings.
Risk Management
The Charity's risk management policy is designed to identify and analyse operational and other risks facing the Charity at unacceptable levels, to take steps to mitigate the risks. The main risks can be categorised as: -
-
Strategic and Reputational Risks.
-
Financial Risks (Fraud; UK Economy effects).
-
Compliance Risks (Fire and Health Safety; Security; Filing regulations; Insurance; Data protection, etc.).
Risk management is part of the wider system of internal control. This system encompasses several elements that facilitate an effective and efficient operation, enabling the Charity to respond to various operational, legal, financial, and commercial risks. These elements include policies and procedures, reporting, strategic planning, and budgeting. Strategic planning and budgeting are used to set objectives, agree on action plans, and allocate resources. Progress towards meeting strategic plan objectives is monitored regularly. The risk register is reviewed regularly.
PRINCIPAL FUNDING SOURCES
The principal income sources are donations and grants received from the public and members of the church communities.
GOING CONCERN
No material uncertainties that may cast significant doubt about the ability of the charity to continue as a going concern have been identified by the trustees.
PUBLIC BENEFIT STATEMENT
The Trustees have had due regard to the guidance on public benefit issued by the Charity Commission in exercising their duties.
REFERENCE & ADMINISTRATIVE DETAILS
Charity Name: MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH
Principal Office: 722 HOLLOWAY ROAD LONDON N19 3NH
5
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
Trustees:
Rev Seleshe Hailu Gebrye Trustee (Appointed 26 December 2024) Hiyaw Mekura Trustee (Appointed 26 December 2024) Nebiyu Mamo Tesema Trustee (Appointed 26 December 2024) Israel Behilu Trustee (Appointed 21 January 2024) Mikael Eyob Trustee (Appointed 21 January 2024) Novel Alemu Trustee (Appointed 21 January 2024) Meaza Shire Damtew Trustee (Appointed 21 January 2024) Henock Addis Trustee (Appointed 21 January 2024)
6
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Annual Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (the United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently.
-
observe the methods and principles in the Charities SORP.
-
make judgments and estimates that are reasonable and prudent.
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Charity deed. They are also responsible for safeguarding the charity's assets and hence for taking reasonable steps to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
7
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report to the trustees on my examination of the Teit Ethiopia Orthodox Tewahedo Supplementary School (the Charity) accounts for the year ended 30 APRIL 2024.
Responsibilities and basis of the report
As the charity trustee of the Charity, you are responsible for preparing the accounts in accordance with the Charities Act 2011 ('the Act').
I report in respect of my examination of Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across any other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Demissie Gebrehiwot, FCCA DBA Accountancy 175 Suite AM 298 Romford Road London, E7 9HD
8
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| Funds | Funds | Funds | ||
| 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | |
| Income and Endowment from: | ||||
| Donations and Legacies | 2 | 20,994 | 20,994 | - |
| …......... | …......... | …......... | ||
| Total income and endowments | 20,994 | 20,994 | - | |
| ====== | ====== | ====== | ||
| Expenditure on: | ||||
| Charitable activities: | ||||
| Church Services and Support | 3 | 13,738 | 13,738 | - |
| --------- | --------- | --------- | ||
| Total Expenditure | 13,738 | 13,738 | - | |
| ---------- | ---------- | ---------- | ||
| Net Income (Deficit) | 7,256 | 7,256 | - | |
| ----------- | ----------- | ----------- | ||
| Net movement in funds | 7,256 | 7,256 | - | |
| Funds Balance brought forward | 3,201 | 3,201 | 3,201 | |
| ----------- | ----------- | ----------- | ||
| Funds Balance carried forward | 10,457 | 10,457 | 3,201 | |
| ======== | ====== | ====== |
All activities of the Charity are classed as continuing.
9
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
| APRIL 2024 | ||||||
|---|---|---|---|---|---|---|
| BALANCE SHEET | ||||||
| AS OF 30 APRIL 2024 | ||||||
| 2024 | 2023 | |||||
| Notes | £ | £ | ||||
| Current Assets | ||||||
| Cash at the bank and in hand | 13,997 | 3,201 | ||||
| --------- | ---------- | |||||
| 13,997 | 3,201 | |||||
| Liabilities | ||||||
| Creditors: Amounts falling due within one year |
4 |
3,540 | - |
|||
| --------- | ---------- | |||||
| Net Current Asset | 10,457 | 3,201 | ||||
| --------- | --------- | |||||
| Total assets less current liabilities | 10,457 | 3,201 | ||||
| ----------- | ---------- | |||||
| Creditors: amounts falling due after one year | - | - |
||||
| ---------- | ---------- | |||||
| Net Assets | 10,457 | 3,201 | ||||
| ======= | ====== | |||||
| Funds of the charity: | ||||||
| Unrestricted funds | 10,457 | 3,201 | ||||
| --------- | --------- | |||||
| Total Funds | 10,457 | 3,201 | ||||
| ===== | ===== | |||||
| These Financial Statements are approved by the trustees on ……………………………... and are signed on their 28/02/2025 |
||||||
| behalf byIsrael Behilu (Trustee) |
10
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and by the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
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.
Resources expended
Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
No depreciation is provided as the charity does not own any assets.
Taxation
The Charity is exempt from tax on its charitable activities.
Fund accounting
The charitable objectives can use unrestricted funds at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for limited purposes.
Wages and salary costs
The Charity has no paid employees, and the trustees provide their services for free. There was no employee paid more than £60,000.
11
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
NOTES TO THE ACCOUNT(CONT)
| 2. DONATIONS AND LEGACIES Voluntary donations Other Income (fundraising) Members contributions 3. CHURCH SERVICES AND SUPPORT EXPENDITURE Services Clergies Services Services Administration Support Rent and Rates Repair and Maintenance Computer and related expense Transport Cleaning and sundry Total expenditure |
2024 £ 20,680 74 240 20,994 2024 £ 1,260 1,903 3,163 6,158 3,890 251 137 137 10,575 13,738 |
2023 £ - - - |
|
|---|---|---|---|
| - | |||
| 2023 £ - - - - - - - - - - |
|||
12
MEKANE SEMAET ST. ARSEMA ETHIOPIAN ORTHODOX TEWAHEDO CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
NOTES TO THE ACCOUNT(CONT)
4. CREDITORS
| Other creditors | 2024 £ 3,540 3,540 |
2023 £ - |
|---|---|---|
| - |
5. RESTRICTED FUNDS
There were no restricted funds.
6. RELATED PARTIES
During the reporting period, the trustees were paid £nil (2023: £nil).
7. SUMMARY OF FUND MOVEMENTS
| Unrestricted funds Total Funds |
Fund balance brought forward £ 3,201 3,201 |
Income £ 20,994 20,994 |
Expenditure £ 13,738 13,738 |
Fund balance carried forward £ 10,457 |
|---|---|---|---|---|
| 10,457 |
8. CONTINGENT LIABILITIES
There are no contingent liabilities.
13