## **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
- {3} Dr A F S Metias
- {4} Dr M M Hanna
- {5} Mr S Hennes-Boulos
- {6} Dr Mena Ekladious (Appointed 9 September 2024) {7} Mr Thomas James (Appointed 01 November 2024)
**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:
- Power to collect, accept, issue appeals for donations and to do all things that shall further the attainment of the objects of the Church,
- Power to invest money, real and personal property, and
- Power to be at liberty to borrow as required by law.
- The aim of the charity is to promote Christian faith through:
- Regular mass services which increased to 3 times a month from April 2021, and some added service in Coptic calendar occasions, like covenant Thursday and good Friday
- Regular Sunday School teaching
- Bible Study Classes,
- - Social and religious educational trips.
## _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:
- -select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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:
- Accounting records were not kept in accordance with section 130 of the 2011 Act or
- the financial statements do not accord with those records; or
- the financial statements 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 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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