2024-03-31-accounts - The Orthodox Church Of St Cuthbert And St Bede, Durham

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Trustees’ Annual Report for the period

From: 01.04.2023 Period start date To: 31.03.2024 Period end date

Charity name: THE ORTHODOX CHURCH OF ST CUTHBERT AND ST BEDE, DURHAM

Charity registration number: 1181914

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The advancement of the Orthodox Christian Religion in general and through the establishment and furtherance of a parish in the City of Durham.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The main activities pertain to the advancement of the Orthodox Christian Religion in general and through the establishment and furtherance of a parish in the City of Durham, by way of regular liturgical worship and the refurbishment of the new Church building.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have had regard to the guidance issued by the Charity Commission on public benefit and therefore ensure that the charity’s objectives and activities meet those requirements.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	N/A
Policy on social investment including program related investment	Para 1.38	N/A
Contribution made by volunteers	Para 1.38	Donations are made voluntarily by members of our congregation and supporters of our projects and activities.

N/A Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Providing support and spiritual guidance throughout the 2023-2024 year.

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
Achievements against objectives set	Para 1.41	N/A
Performance of fundraising activities against objectives set	Para 1.41	N/A
Investment performance against objectives	Para 1.41	N/A
Other		N/A

Financial Review

	Review of the charity’s financial position at the end of the period	Par a 1.21

Statement	Par	N/A
explaining	a 1.22
the policy
for holding
reserves
stating why
they are
held
Amount of	Par	N/A
	a
reserves	1.22
held
Reasons for	Par	N/A
holding zero	a 1.22
reserves
Details of	Par	N/A
fund	a 1.24
materially in
deficit
Explanation of any	Par a 1.23	No uncertainties applicable.
uncertaintie
s about the
charity
continuing
as a going
concern

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s only source of funds is through charitable donations. The charity’s principal sources of funds (including Para 1.47 any fundraising) None applicable

Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46	None applicable
Other		N/A

Structure, Governance and Management

Description of charity’s trusts:		The advancement of the Orthodox Christian Religion in general and through the establishment and furtherance of a parish in the City of Durham.
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Appointed charity trustees Apart from the first charity trustees, every appointed trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as appointed charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. (2) Ex Officio Trustees Any person appointed by a canonical bishop of the Orthodox Church to be the parish priest of the Church of St Cuthbert & St Bede shall automatically (“ex-officio”) be a charity trustee for so long as he or she holds that office.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	N/A
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	N/A
Relationship with any related parties	Para 1.51	N/A
Other

Reference and Administrative details

Charity name	THE ORTHODOX CHURCH OF ST CUTHBERT & ST BEDE, DURHAM
Other name the charity uses	ORTHODOX COMMUNITY OF ST CUTHBERT AND ST BEDE
Registered charity number	1181914
Charity’s principal address	5 Wanless Terrace, Durham, DH1 1RU

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8		Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
		The Reverend Dr Justin-Alexandru Mihoc
		The Very Reverend Archpriest Prof Andrew Louth
		~~Dr Krastu Banev~~		Acted for full period 1st April 2022 – 31stMarch 2023. Resigned on 20th December 2023
		Mrs. Irina Sokolova- Snegir
		Dr Sarah Kelly (was Pape)
		Dr Patrick Gray
		Dr Carmen Maria Hubbard
		Mr Emanuel Ionutescu

– Corporate trustees names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Additional information (optional) Names and addresses of advisers (Optional information)	Additional information (optional) Names and addresses of advisers (Optional information)	Additional information (optional) Names and addresses of advisers (Optional information)
Type of adviser Name Address
N/A

Name of chief executive or names of senior staff members (Optional information)

N/A

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
	Justin-Alexandru Mihoc	Irina Sokolova-Snegir
	Priest-in-charge	Secretary/Trustee
	14/11/2024
	14/11/2024

Company Registration Number: CE016430 Registered Charity Number: 1181914

The Orthodox Church of St Cuthbert and St Bede, Durham Report and Accounts

For the year ended 31st March 2024

The Orthodox Church of St Cuthbert and St Bede, Durham Contents of the Report and Accounts For the year ended 31st March 2024

	Page
Reference and Administrative Information	1
Statement of Trustees' Responsibilities	2
Statement of Financial Activities	3
Balance Sheet	4
Notes to the Accounts	5
Detailed Statement of Financial Activities	6

The Orthodox Church of St Cuthbert and St Bede, Durham Reference and Administrative Information

Company Registration Number

CE016430

Registered Charity Number

1181914

Priest in charge

Revd Dr Justin-Alexandru Mihoc

Trustees

Dr Carmen Hubbard Emanuel Ionutescu Dr Patrick Gray Dr Sarah Amanda Kelly Mrs Irina Sokolova-Snegir Revd Dr Justin-Alexandru Mihoc The Very Reverend Archpriest Prof Andrew Louth

Registered Office and Operation Address

5 Wanless Terrace, Durham, DH1 1RU

Bankers

Barclays Bank UK Plc, 6 Market Pl, Durham, DH1 3NB

The Orthodox Church of St Cuthbert and St Bede, Durham Statement of Trustees' Responsibilities

The trustees have pleasure in presenting their report and accounts for the year ended 31st March 2024

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated and registered as a charity on 7th February 2019.

The company was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association.

The chair of trustees, who is the trustee for the purpose of charity law, who served during the year and up to the date of this report is set out on page 1.

Objects

The objects of the charity are:

The advancement of the Orthodox Christian Religion in general and through the establishment and furtherance of a parish in the City of Durham.

The main activities pertain to the advancement of the Orthodox Christian Religion in general and through the

establishment and furtherance of a parish in the City of Durham, by way of regular liturgical worship and the

refurbishment of the new Church building.

Financial review

Total incoming resources for the year amounted to £97,136 (2023 £65,886), with total resources expended of £68,256 (2023 £132,229), resulting in net loss of £28,880 (2023 £66,343).

This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (FRS 102), taking advantage of the concessions provided by the SORP for smaller charities, and in accordance with the provisions for small companies under Part 15 of the Companies Act 2006.

The report was approved by the board on 14th November 2024

…………………………………………….. Justin-Alexandru Mihoc Priest in charge

The Orthodox Church of St Cuthbert and St Bede, Durham Statement of Financial Activities (Including Income and Expenditure Account) For the year ended 31st March 2024

	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Incoming Resources:
Donations	58,326	35,275
Donations Ukraine	-	-
Grant	26,800	21,824
Gift Aid	12,010	8,779
Other Income	-	8
Resources Expended	97,136	65,886
Cost of generating funds	68,256	132,229
Net Incoming Resources - Net Income for the Year	68,256 28,880	132,229 66,343 -
Total Funds at 1st April 2023	139,258	205,601
Total Funds at 31st March 2024	168,138	139,258

The Orthodox Church of St Cuthbert and St Bede, Durham Balance Sheet at 31st March 2024

Current assets Investment Freehold Property Other Debtors - Gift Aid Cash at bank and in hand Net current assets Current Liabilities Accruals Total Assets Less Current Liabilities: Unrestricted Funds General funds Total Funds	2024 £ - 109,729 12,010 46,849 168,588 450 168,138 168,138 168,138	2023 £ - 100,907 8,779 29,872 139,558 300 139,258 139,258 139,258

For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 of the Companies Act 2006, and which otherwise comply with the requirements of this act relating to accounts, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Board on 14th November 2024 and signed on its behalf by:

……………………………………

Justin-Alexandru Mihoc Priest in charge

The Orthodox Church of St Cuthbert and St Bede, Durham Notes to the accounts For the year ended 31st March 2024

1. ACCOUNTING POLICIES

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 and follow the recommendations in Accounting and Reporting by Charities : Statement of Recommended Practice (SORP FRS 102), taking advantage of the concessions provided by the SORP for smaller charities.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity becomes entitled to the resources, the trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability.

Expenditure and liabilities

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Fund accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criteria is charged to the fund.

Costs of generating funds

Costs of generating funds are those costs incurred in attracting voluntary income, or incurred in trading activities undertaken to raise funds.

The Orthodox Church of St Cuthbert and St Bede, Durham Detailed Statement of Financial Activities For the year ended 31st March 2024

Revenue Donations Donations Ukraine Grant Gift Aid Other Income - Gift Aid Supplement Total Revenue Cost of Sales Administrative expenses Rent Advertising Postage and Stationary Donations Donation Ukraine Courier Charges Insurance Bank charges Legal and professional costs Sundry Repairs and Renewals Total Administrative expenses	2024 £ 58,326 - 26,800 12,010 - 97,136 1,274 960 - 739 1,390 - - 697 30 450 - 62,716 66,982	2023 £ 35,275 - 21,824 8,779 8 65,886 128 - 180 - 1,970 3,195 700 265 88 300 107 125,296 132,101

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Charity Name

The Orthodox Church of St Cuthbert and St Bede, Durham

On accounts for the year 31[st] March 2024 Charity no 1181914 ended (if any) Set out on pages (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2023.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’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. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities 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 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Date: 14/11/24

Signed: Name: Ionela Alexii Address: 20 Nowell Close, Radcliffe-on-Trent, Nottingham, NG12 1FE

Oct 2018

IER

IER Oct 2018