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2024-12-31-accounts

ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

YEAR ENDED 31[st] DECEMBER 2024

ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH

HASTINGS

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31[st] DECEMBER 2024

CONTENTS

PAGE
CONTENTS 1
CHARITY INFORMATION 2
TRUSTEES REPORT 3-4
STATEMENT OF TRUSTEE’S RESPONSIBILITES 5
INDEPENDENT EXAMINER’S REPORT 6
STATEMENT OF FINANCIAL ACTIVITIES 7
BALANCE SHEET 8
NOTES TO THE FINANCIAL STATEMENTS 9-16

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

Charity Information

For the Year Ended 31[st] Dec 2024

TRUSTEES {1} His Grace Bishop Antony {2} Rev Father A Elantony

TREASURERS Dr M M Hanna

CHARITY NUMBER 1185911 Date of Registration 21 October 2019

BANKERS Lloyd’s Bank 120 Lewisham High Stree London

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

TRUSTEES' REPORT FOR THE YEAR ENDED 31[st] DECEMBER 2024

The financial statements have been prepared in accordance with the accounting 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: 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)" (effective 1 January 2019).

Objectives and activities

The main object of the charity is to provide pastoral and spiritual support to the Coptic Christians who live in the area of East Sussex and promote the values and teachings of the Coptic Orthodox Church.

It has the following specific investment powers:

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

The church of St John the Evangelist Hollington is kindly allowing our church to provide mass services at Upper Church Road, St Leonards on Sea, TN37 7AT.

The structure of the Church comprises of one Priest, Deacons and Sunday school teachers. The Church holds regular conferences for different age groups of the congregation: Liaising with local churches of the local community, and

Liaising with Coptic Churches in the UK, the mother Orthodox Church of Egypt and throughout the world.

The serving priest / priests and all of the church committee and trustees are volunteers.

Financial review

The charity did achieve financial surplus which is being kept in reserves with the intention of buying its own premises to provide weekly mass services and possible accommodation for a resident priest.

The Charity performed very well during the year; The church has a healthy balance sheet due to the support of Coptic Orthodox Christians locally and from the whole of the UK as well the support of the Diocese of Ireland, Scotland, Northeast of England & Its Affiliated Areas.

All the expenses of the church are closely monitored and vetted by the committee of trustees. The church pays a nominal sum to St John's church each month for the use of the church. The church pays a monthly subscription to the diocese of Ireland, Scotland, Northeast of England & Its Affiliated Areas to help to support the diocese’s services, projects and activities.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2024

Gift Aid claims

The Charity submitted a claim of Gift Aid donations of £68800 from 01/01/2024 till 31/12/2024 plus total value of GASDS collected £7774.50 & taken away amount of tax relief previously overclaimed £1525.00

Investment policy

Investment selection policy Short term - short term fixed deposit and money market account.

Major risks

Review of major risk

Health and safety, annual fire inspection to comply with fire regulations.

The Charity has building and public liability insurance covering the buildings.

Plans for future periods

The church is actively seeking to buy its own premises and searching for a new place after failure of purchasing of the Methodist Church in Bexhill due to the non-compliant of the vendor with all of our prepurchase conditions.

Structure, governance and management

The charity is governed by a constitution and is a registered charity (number 1185911) at the Charity Commission.

The trustees' report was approved by the Board of Trustees.

Dr M M Hanna

Trustee

Magdy M. Hanna

Date :15/08/2025

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2024

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state 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:

The trustees are responsible for keeping sufficient 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 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.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

Independent Examiner's Report to the Trustees of St. Mary & St. Theodore Coptic Orthodox Church

I report to the trustees on my examination of the financial statements of St Mary & St Theodore Coptic Orthodox Church, Hastings (the charity) for the year ended 31[st] December 2024.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 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 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 which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Accountant

Mahir Tawfig FMAAT Dated: 15/08/2025

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE
ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER
2024
Note.
Income from Donations and legacies
3
Membership contribution
Collection & Church Boxes
Church Activities
Gift Aid Recovered
Investment Income (Interest Received)
Total income
Expenditure on charitable activities
Management and administration of the
charity
4
Total expenditure
Net income/(expenditure) and
movement in funds
Reconciliation of funds:
Fund balances at 1 January 2024
Fund balances at 31 December 2024		 Unrestricted Restricted
Funds
Funds
2024
2024
£
£
83,944
0
6,470
0
2,010
0
21,762
0
0
0
114,186
0
26,636
5007
26,636
5007
87,550
5007		 Total
Unrestricted Restricted
Funds
Funds
Funds

2024
2023
2023
£
£
£
83,944
109,561
0
6,470
0
0
2,010
0
0
21,762
14,626
0
0
0
0
114,186
124,187
0

31,643
18,775
6,215
31,643
18,775
6,215
82,543
105,412
6,215		 Total
Funds
2023
£
109,561
0
0
14,626
0
124,187
24,990
24,990
99,197
282,001
323468
369,551
318,461		 605,469
688,012
 176589
329683
282,001
323,468		 506272
605,469

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

BALANCE SHEET AS AT 31ST December 2024

Note
Fixed Assets
Tangible Assets
9
CURRENT ASSETS
Debtor
10
Cash at Banks and in Hand
Creditors: amounts falling due within one year
11
Net current assets
The funds of the charity
Restricted income funds
12
Unrestricted funds		 2024
£
21359
667247
688606
918		 2024
£
324.00
687,688
688,012
318,461
369,551
688,012		 2023
£
21359
584,647
606006
918		 2023
£
381
605,088
605,469
323,468
282001
605,469

The financial statements were approved by the trustees on 15/08/2025

Dr M M Hanna Trustee

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024

1. Accounting policies

Charity information

St Mary & St Theodore Coptic Orthodox Church, Hastings is an unincorporated charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements 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. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable Objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED)

1. Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment 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:

Fixtures and fittings 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if 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. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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 statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED)

1. Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price 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 at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at 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 rate 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 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to 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 considered 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 current and future periods.

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED

3 Income from donations and legacies

Donations and gifts
Other
4 Expenditure on charitable activities
Direct costs
Clergy living expenses
Travelling expenses
Professional fees regarding church purchase
Church hire
Donations
Church Activities
Other expense
Share of support and governance costs (see
note 5)
Governance
Analysis by fund
Unrestricted funds
Restricted funds		 Unrestricted Restricted Total
Unrestricted
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
112,176
0 112,176
109,561
2,010
0
2,010
14626		 Restricted Total
Funds
Funds
2023
2023
£
£
0
109,561
0
14,626
114186
114,186
124,187		 0
483,046
Specific
activities
Specific
activities
2024
2023
£
£
5,780
7,399
1590
291
5,007
6,215
2,580
2,800
14,650
7,300
1,864
0
115
0
31,586
24,005
57
985
31,643
24,990
26,636
18,775
0
6,215
26,636
24,990

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED

5 Support costs
Depreciation
Independent Examiner fee
Analysed between
Charitable activities		 Support
Governance
2024
2023
costs
costs
£
£
£
£
-
57
57
67
-
0
0
918
-
57
57
985
-
57
57
985
6 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging / (crediting ) :
Depreciation of owned tangible fixed assets 57 67

Depreciation of owned tangible fixed assets

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits charity during the year.

8 Employees

The average monthly number of employees during the year was:

Employees
The average monthly number of employees during the year was:
Total
There were no employees whose annual remuneration was more than £60,000.		 2024
2023
Number
Number
-
-

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED

9 Tangible fixed assets
Cost
At 1 January 2024
At 31 December 2024
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
10 Debtors
Amounts falling due within one year:
Other debtors
11 Creditors: amounts falling due within one year
Accruals and deferred income		 2023
£
21,359		 Fixtures and
fittings
£
527
527
146
57
203
324
381
2022
£
21,359
2023
£
0		 2022
£
918

12 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
January
2024		 Incoming
resources		 Resources
expended		 At 31
December
2024
Fund for purchase of church 323,468 0 5007 318,461

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED

12 Restricted funds (Continued)
Previous period:
At 1st At 31
January Incoming Resources December
2023 resources expended 2023
£ £
£		 £
Fund for purchase of church 329,683 0
6215		 323,468
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1st At 31
January Incoming Resources December
2024 resources expended 2024
General funds 282,001 114,186
26,636		 369,551
At 1st At 31
Previous period: January Incoming Resources December
2023 resources expended 2023
General funds 176,589 124,187
18,775		 282,001
14 Analysis of net assets between funds
Unrestricted
funds

Restricted
funds		 Total
2024
2024		 2024
£
£		 £
At 31 December 2024:
Tangible assets 324
0		 324
Current assets/(liabilities) 369,227
318,461		 687,688
369,551
318,461		 688,012

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ST MARY & ST THEODORE COPTIC ORTHODOX CHURCH HASTINGS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMEBER 2024 (CONTINUED

14 Analysis of net assets between funds
At 31 December 2023:
Tangible assets
Current assets/(liabilities)		 (Continued)
Unrestricted
funds
Restricted
funds
Total
2022
2022
2022
£
£
£
381
0
381
281,620
323,468
605,088
282,001
323,468
605,469

15 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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