Charity registration number: 1186274
## **HOLY APOSTOLIC CATHOLIC ASSYRIAN CHURCH OF THE EAST**
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Ward Divecha Ltd 29 Welbeck street London W1G 8DA
**Holy Apostolic Catholic Assyrian Church of the East Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2—4|
|Independent Auditor's Report|5—6|
|Statement of Financial Activities|7|
|Statement of Financial Position|8|
|Statement of Cash Flows|9|
|Notes to the Statement of Cash Flows|10|
|Notes to the Financial Statements|11—17|
**Holy Apostolic Catholic Assyrian Church of the East Reference and Administrative Details For The Year Ended 31 December 2024**
**Trustees** Bishop Awraham Youkhanis - Chair Mr Younan David Michael - Trustee and secretary Mr Aoner Yonan - Trustee Mr Evan Bahram - Trustee (appointed 09/03/2024) Mr Lo'ay Nimroud Petros Odish - Trustee (appointed 09/03/2024) **Charity Number** 1186274 **Principal Address** St. Mary's Cathedral St. James Avenue London W13 9DL **Accountants** Ward Divecha Ltd Chartered accountants and statutory auditors 29 Welbeck Street London W1G 8DA
Page 1
**Holy Apostolic Catholic Assyrian Church of the East Trustees' Report For The Year Ended 31 December 2024**
The trustees present their report and the financial statements for the year ended 31 December 2024.
## **Objectives and Activities**
## **Aims and Objectives**
The objects of the CIO are, for the public benefit, to advance the Christian faith in the tradition of the Holy Apostolic Catholic Assyrian Church of the East in the United Kingdom, primarily but not exclusively through the provision of a place or places of worship, the administration of the sacraments, rites, and ceremonies of the Church according to its usage and forms.
## **Public Benefit**
Following main activities undertaken to further the charity’s purpose for the public benefit.
## **Worship and Spiritual Life**
Regular Eucharistic Liturgies, prayer vigils, and pastoral care continued, offering spiritual support and community connection.
Impact:
- Strengthened faith
- Provided pastoral care
- Maintained visible Christian and Assyrian witness
## **Children, Youth, and Seniors**
Various following programs for children, youth and senior were conducted:
- Vacation Bible School (VBS)
- Weekly Senior Lunches
- Youth Group (Fridays)
- Assyrian Language Classes (children on Saturdays, adults on Thursdays)
- Impact:
- Strengthened intergenerational bonds
- Promoted faith, heritage, and social inclusion
## **Cultural and Community Events**
Following cultural and community events were organised during the year.
- Annual Summer Festival
- Choir Gatherings
- Christmas Carols Event
Impact:
- Promoted cultural identity and outreach
- Enhanced community relationships
## **Charitable Outreach**
- Annual Toy Drives with Great Ormond Street Hospital
- Support for local charities
- Impact:
- Helped sick and vulnerable children
- Enhanced public image of the Church
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## **Achievements and Performance**
## **Main Achievements**
## **Acquisition of St James’s Church:**
A new site was acquired and completed on 4 December 2024 for £3.225m. Mainly it is funded by parishioners, interest-free loans, and Charity Bank.
Impact:
- Larger facility for the growing community
- Preserved historic building
- Created a long-term base for worship and outreach
Page 2
## **Holy Apostolic Catholic Assyrian Church of the East Trustees' Report (continued) For The Year Ended 31 December 2024**
## **Financial Review**
## **Financial Position**
The Trustees have a reasonable expectation that the CIO has adequate resources to continue operating for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. The Trustees regularly review the level of reserves required to ensure they are sufficient to fulfil the CIO’s continuing obligations.
During the financial year, the CIO completed the purchase of a new church property at St James’s Church, St James’ Avenue, London W13 9DL, valued at £3.225 million. The CIO also holds a freehold property in TW8 9QJ and retains ownership of its former church building at W7 3TU (pending sale). Taken together, the total asset value of the CIO therefore exceeds the £3.26 million threshold set by the Charity Commission.
In addition, gross income for the year exceeded £500,000, primarily due to increased fundraising activity to support the church purchase. As both the income and asset thresholds were exceeded, the Trustees were made aware of the requirement to conduct a full statutory audit. Accordingly, the Finance Department was instructed to engage an independent firm of auditors to carry out the audit of the financial statements for the year ended 31 December 2024, in accordance with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the Charities SORP (FRS 102).
## **Going Concern**
The trustees have considered all relevant factors, on the charity's activities and have concluded there is no significant impact on the Organisation.
It is therefore considered that the going concern status remains intact and there are no material uncertainties about the charity’s ability to continue.
## **Principal Funding Sources**
The CIO’s primary sources of funding in 2024 included:
- Donations from parishioners and the wider community
- Interest-free community loans from supporters
- A loan from Charity Bank, enabling the purchase of the new church property
## **Funds in surplus**
The Board have reviewed the charity’s financial position at year end and is satisfied the charity continues to be in good financial health.
During the year, income (Donations) was £580,019 (2023: £430,622).
## **Restricted funds:**
Restricted funds as at 31 December 2024 are £Nil (2023: Nil)
## **Unrestricted funds:**
Unrestricted funds as at 31 December 2004 are £1,408,636 (2023: £1,101,662)
## **Structure, Governance and Management**
## **Governing Document**
The CIO was formed through a constitution dated 21 October 2019 and commenced activity on 5 November 2019.
The CIO is governed by its constitution, which was approved by the Charity Commission and has not been amended. In setting objectives and planning activities, the Trustees have given due consideration to Charity Commission guidance on public benefit.
.
Page 3
## **Holy Apostolic Catholic Assyrian Church of the East Trustees' Report (continued) For The Year Ended 31 December 2024**
## **Other Information**
## **Regulations and Safeguarding**
The charity has implemented comprehensive procedures to ensure compliance with all safeguarding and regulatory requirements. Processes in place include:
- DBS Checks: All Trustees and key volunteers checked; policy and safeguarding officer appointed.
- Insurance: Independently reviewed for compliance at the new property.
- Health & Safety: Updated policies applied during renovations.
- Fire Risk: Updated assessments and safety plans.
- Finance: Oversight maintained by Trustees through the finance department.
## **Post Balance Sheet Events**
Subsequent to the year end, the sale of St Mary’s Cathedral, Hanwell is well advanced, with a purchaser secured at an agreed price of £1.4 million.
Impact:
- Responsible stewardship through the release of capital tied up in property assets.
- Enables the charity to focus resources on the development and expansion of activities at the new site.
## **Statement of Trustees' Responsibilities**
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 period. In preparing the financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed; subject to any 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 business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charity and to enable them to ensure that the accounts 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.
The trustees are responsible for the maintenance and integrity of the corporate and 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.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Younan David Michael
Trustee 31/10/2025
Page 4
## **Independent Auditor's Report to the Members of Holy Apostolic Catholic Assyrian Church of the East**
## **Opinion**
We have audited the financial statements of Holy Apostolic Catholic Assyrian Church of the East (the "charity") for the year ended 31 December 2024 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Statement of Financial Position, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2024 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 (UK) (ISAs (UK)) 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 accordance 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 statements, we have concluded that the trustees' 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 uncertainties 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 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other Information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have 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.
## **Matters on Which We Are Required to Report by Exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records or returns; or we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees' Responsibilities Statement set out on page 2—4, the trustees 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 misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees 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 concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 5
## **Independent Auditor's Report (continued) to the Members of Holy Apostolic Catholic Assyrian Church of the East**
## **Auditor's Responsibilities for the Audit of the Financial Statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatements in respect of irregularities, including fraud and non-compliance and regulations, we considered the following:
- results of our enquiries of management about their own identification and assessment of the risks and irregularities;
- any matters we identified having obtained and reviewed the charity's documentation of their policies and procedures
- relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-
- compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **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 Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted 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.
Adil Divecha (Senior statutory auditor) For and on behalf of Ward Divecha Ltd Chartered accountants & statutory auditors 29 Welbeck Street London W1G 8DA
Dated: 31/10/2025
Page 6
## **Holy Apostolic Catholic Assyrian Church of the East Statement of Financial Activities For The Year Ended 31 December 2024**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Charitable activities **4**
Other trading activities
**5**
Investments
**6**
**EXPENDITURE ON:**
Raising funds
**8**
Charitable activities:
**8**
General charity expenses
Governance costs
Donation to other charities
Other
**NET INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**19**|**2024**
**2023**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**£**
**£**
535,758
339,859
9,841
73,636
26,076
16,456
8,344
671|
|---|---|
||580,019
430,622|
||-
(72,241)
(211,258)
(145,509)
(44,373)
(43,787)
-
(6,482)
(17,414)
(7,852)|
||(273,045)
(275,871)|
||306,974
154,751|
||306,974
154,751
1,101,662
946,911|
||1,408,636
1,101,662|
The notes on pages 10 to 17 form part of these financial statements.
Page 7
## **Holy Apostolic Catholic Assyrian Church of the East Statement of Financial Position As At 31 December 2024**
|**Notes**
**FIXED ASSETS**
Tangible Assets
**13**
**CURRENT ASSETS**
Debtors
**14**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**15**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**Creditors: Amounts Falling Due After More Than One Year**
**16**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds
**TOTAL FUNDS**
**19**|**2024**
**2023**
**Unrestricted**
**funds**
**Total**
**funds**
**£**
**£**
4,065,185
865,527|
|---|---|
||4,065,185
865,527
24,924
26,437
191,520
213,115|
||216,444
239,552
(902,921)
(3,417)|
||(686,477)
236,135|
||3,378,708
1,101,662|
||(1,970,072)
-|
||1,408,636
1,101,662|
||1,408,636
1,101,662|
||1,408,636
1,101,662|
On behalf of the board
Mr Younan David Michael Trustee 31/10/2025
The notes on pages 10 to 17 form part of these financial statements.
Page 8
## **Holy Apostolic Catholic Assyrian Church of the East Statement of Cash Flows For The Year Ended 31 December 2024**
|**Cash flows from operating activities**
**Notes**
Net cash generated from operations
**1**
Interest paid
Net cash generated from operating activities
**Cash flows from investing activities**
Purchase of tangible assets
Interest received
Net cash used in investing activities
**Cash flows from financing activities**
Proceeds from new bank borrowings
Proceeds from new other loans
Net cash generated from financing activities
(Decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
**2**
Cash and cash equivalents at end of year
**2**|**2024**
**£**
346,914
(1,492)
345,422
(3,240,081)
8,344
(3,231,737)
1,864,550
1,000,170
2,864,720
(21,595)
213,115
191,520|**2023**
**£**
172,163
(2)|
|---|---|---|
|||172,161|
|||(15,548)
671|
|||(14,877)|
|||-
-|
|||-|
||||
|||157,284
55,828|
|||213,112|
Page 9
## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Statement of Cash Flows For The Year Ended 31 December 2024**
## 1. **Reconciliation of income to cash generated from operations**
|. **Reconciliation of income to cash generated from operations**|||
|---|---|---|
|Net income
_Adjustments for:_
Interest expense
Interest income
Depreciation of tangible assets
_Movements in working capital:_
Decrease/(increase) in trade and other debtors
Increase in trade and other creditors
Net cash generated from operations|**2024**
**£**
306,974
1,492
(8,344)
40,423
1,513
4,856
346,914|**2023**
**£**
154,751
2
(671)
43,787
(26,437)
731|
|||172,163|
## 2. **Cash and cash equivalents**
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
|Cash at bank and in hand
. **Analysis of changes in net funds/(debt)**
Cash at bank and in hand
Debts falling due within one year
Debts falling due after more than one year|**2024**
**£**
191,520
**As at 1**
**January**
**2024**
**Cash flows**
**£**
**£**
213,115
(21,595)
-
(894,648)
-
(1,970,072)|**2023**
**£**
213,115|
|---|---|---|
|||**As at 31**
**December**
**2024**
**£**
191,520
(894,648)
(1,970,072)|
||213,115
(2,886,315)|(2,673,200)|
## 3. **Analysis of changes in net funds/(debt)**
Page 10
**Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements For The Year Ended 31 December 2024**
## 1. **General Information**
Holy Apostolic Catholic Assyrian Church of the East is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1186274. The principal address is St. Mary's Cathedral, St. James Avenue, London, W13 9DL.
## 2. **Accounting Policies**
## 2.1. **Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
## 2.2. **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.
Voluntary income is received by way of donations and gifts and is included in full in the statement of Financial Activities when receivable.
## 2.3. **Resources Expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## 2.4. **Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|Freehold|No depreciation charged|
|---|---|
|Plant & Machinery|4 years straight line|
|Motor Vehicles|4 years straight line|
|Fixtures & Fittings|6 years straight line|
## 2.5. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 3. **Income from Donations and Legacies**
||**2024**|**2023**|
|---|---|---|
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**£**|**£**|
|Donations and gifts:|||
|Building funds|199,082|-|
|Donations from individuals|204,556|180,730|
|Offerings|57,281|57,707|
|Contributions|21,412|47,046|
|Event committee|13,440|-|
|Diocesan contribution|12,345|16,715|
|Other:|||
|Calendars|812|733|
|||...CONTINUED|
Page 11
## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
|Candles
Hospitality committee
Book shop
4. **Income from Charitable Activities**
Greece appeal collection
Youth programs
Edessa language class
Jerusalem trip
Excursion
Senior lunch
5. **Income from Other Trading Activities**
Income from other trading activities
Food festivals
Raffle ticket sales
Courtyard hire
6. **Investment Income**
Bank interest receivable
7. **Net Income/(Expenditure)**
The net income is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned|243
1,319
25,958
34,962
629
647|
|---|---|
||535,758
339,859|
||**2024**
**2023**
**Unrestricted**
**funds**
**£**
**Unrestricted**
**funds**
**£**
2,405
-
2,556
-
-
3,118
-
59,031
-
7,475
4,880
4,012|
||9,841
73,636|
||**2024**
**2023**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**£**
**£**
9,787
1,451
13,047
13,890
-
1,115
3,242
-|
||26,076
16,456|
||**2024**
**2023**
**Unrestricted Unrestricted**
**funds**
**funds**
**£**
**£**
8,344
671|
||**2024**
**2023**
**£**
**£**
40,423
43,787|
Page 12
## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
## 8. **Analysis of Expenditure**
|. **Analysis of Expenditure**|||
|---|---|---|
|General charity expenses
Governance costs
Raising funds
General charity expenses
Governance costs
Donation to other charities|**Activities**
**undertaken**
**directly**
**£**
72,241
6,510
-
-|**2024**
**Activities**
**undertaken**
**directly**
**Support**
**costs**
(see note 9)
**Total**
**£**
**£**
**£**
32,209
179,049
211,258
-
44,373
44,373|
|||32,209
223,422
255,631|
|||**2023**
**Grant**
**funding of**
**activities**
**Support**
**costs**
(see note 9)
**Total**
**£**
**£**
**£**
-
-
72,241
-
138,999
145,509
-
43,787
43,787
6,482
-
6,482|
||78,751|6,482
182,786
268,019|
## 9. **Support Costs**
|. **Support Costs**||||
|---|---|---|---|
||||**2024**|
||**General**|||
||**charity**|**Governance**||
||**expenses**|**costs**|**Total**|
||**£**|**£**|**£**|
|Employee costs:||||
|Wages and salaries|80,593|-|80,593|
|Employers NI|894|-|894|
|Employers pensions - defined contributions scheme|1,950|-|1,950|
|Clergy travel and accommodation|2,786|-|2,786|
|Transportation expenses|3,165|-|3,165|
|Premises expenses:||||
|Light and heat|8,383|-|8,383|
|Water rates|6,339|-|6,339|
|Cleaning & waste disposal|4,255|-|4,255|
|General administration:||||
|Hire and leasing of plant, equipment and vehicles|2,271|-|2,271|
|Computer IT consumables and alarm|3,694|-|3,694|
|Repairs, renewals and maintenance|72|-|72|
|Insurance|7,510|-|7,510|
|Printing, postage and stationery|1,631|-|1,631|
|Telecommunications and data costs|631|-|631|
|TV license|170|-|170|
|Lega and professional fees|42,773|-|42,773|
|Bishopric expenses|5,322|-|5,322|
|Merchant fees|2,965|-|2,965|
|Sundry expenses|325|-|325|
|Storage rent|1,100|-|1,100|
||||...CONTINUED|
Page 13
## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
|Calendar expenses
**Depreciation:**
Depreciation of plant and machinery
Depreciation of fixtures and fittings
**Governance cost:**
Audit fees
Accountancy fees
Employee costs:
Wages and salaries
Employers NI
Employers pensions - defined contributions scheme
Clergy travel and accommodation
Premises expenses:
Light and heat
Water rates
Cleaning & waste disposal
General administration:
Hire and leasing of plant, equipment and vehicles
Computer IT consumables and alarm
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Ladies committee expenses
Telecommunications and data costs
TV license
Bishopric expenses
Merchant fees
Sundry expenses
Depreciation:
Depreciation of plant and machinery
Depreciation of motor vehicles
Depreciation of fixtures and fittings|2,220
-
2,220
-
1,510
1,510
-
38,913
38,913
-
2,400
2,400
-
1,550
1,550|
|---|---|
||179,049
44,373
223,422|
||**2023**
**General**
**charity**
**Governance**
**expenses**
**costs**
**Total**
**£**
**£**
**£**
74,800
-
74,800
1,206
-
1,206
2,100
-
2,100
8,946
-
8,946
10,163
-
10,163
1,295
-
1,295
1,104
-
1,104
718
-
718
3,851
-
3,851
7,268
-
7,268
5,874
-
5,874
692
-
692
2,938
-
2,938
888
-
888
159
-
159
11,173
-
11,173
2,265
-
2,265
3,559
-
3,559
-
1,510
1,510
-
3,494
3,494
-
38,783
38,783|
||138,999
43,787
182,786|
## 10. **Auditor's Remuneration**
Remuneration received by the charity's auditors and their associates during the year was as follows:
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**Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
## 11. **Staff Costs**
Staff costs were as follows:
|taff costs were as follows:|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|**2024**
**£**
80,593
894
1,950
83,437|**2023**
**£**
74,800
1,206
2,100|
|||78,106|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
## 12. **Average Number of Employees**
Average number of employees during the year was: 3 (2023: 3)
## 13. **Tangible Assets**
|**Cost**
As at 1 January 2024
Additions
As at 31 December 2024
**Depreciation**
As at 1 January 2024
Provided during the period
As at 31 December 2024
**Net Book Value**
As at 31 December 2024
As at 1 January 2024
4. **Debtors**
**Due within one year**
Other debtors|**Land &**
**Property**
**Freehold**
**£**
**Plant &**
**Machinery**
**£**
**Motor**
**Vehicles**
**£**
**Fixtures &**
**Fittings**
**£**
721,608
5,825
10,481
218,576
3,225,000
216
-
14,865|**Total**
**£**
956,490
3,240,081|
|---|---|---|
||3,946,608
6,041
10,481
233,441|4,196,571|
||-
3,095
10,481
77,387
-
1,510
-
38,913|90,963
40,423|
||-
4,605
10,481
116,300|131,386|
||3,946,608
1,436
-
117,141|4,065,185|
||721,608
2,730
-
141,189|865,527|
||**2024**
**£**
24,924|**2023**
**£**
26,437|
## 14. **Debtors**
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## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
## 15. **Creditors: Amounts Falling Due Within One Year**
|Bank loans and overdrafts
Other creditors
Taxation and social security
Accruals and deferred income
Bank loans are secured against the property held by the charity.
16. **Creditors: Amounts Falling Due After More Than One Year**
Bank loans
Other loans
Bank loans are secured against the property held by the charity.
17. **Loans**
An analysis of the maturity of loans is given below:
Amounts falling due within one year or on demand:
Bank loans
Amounts falling due between one and five years:
Bank loans
Other loans|**2024**
**£**
894,648
3,217
1,023
4,033
902,921
**2024**
**£**
969,902
1,000,170
1,970,072
**2024**
**£**
894,648
**2024**
**£**
969,902
1,000,170
1,970,072|**2023**
**£**
-
2,455
962
-|
|---|---|---|
|||3,417|
|||**2023**
**£**
-
-|
|||-|
|||**2023**
**£**
-|
|||**2023**
**£**
-
-|
|||-|
## 18. **Pension Commitments**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £1,950 (2023: £2,100).
At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.
Page 16
## **Holy Apostolic Catholic Assyrian Church of the East Notes to the Financial Statements (continued) For The Year Ended 31 December 2024**
## 19. **Movement in Funds**
|**Unrestricted funds**
General:
General unrestricted fund
Charitable activities
Income from other trading activities
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
Charitable activities
Income from other trading activities
**Total unrestricted funds**
**Total funds**|**As at 1**
**January**
**2024**
**£**
1,101,662
-
-|**Income**
**£**
544,102
9,841
26,076|**Expenditure**
**£**
(271,624)
-
(1,421)|**As at 31**
**December**
**2024**
**£**
1,374,140
9,841
24,655|
|---|---|---|---|---|
||1,101,662|580,019|(273,045)|1,408,636|
||||||
||1,101,662|580,019|(273,045)|1,408,636|
||**As at 1**
**January**
**2023**
**£**
946,911
-
-|**Income**
**£**
340,530
73,636
16,456|**Expenditure**
**£**
(275,871)
-
-|**As at 31**
**December**
**2023**
**£**
1,011,570
73,636
16,456|
||946,911|430,622|(275,871)|1,101,662|
||||||
||946,911|430,622|(275,871)|1,101,662|
## 20. **Related Party Disclosures**
A reimbursement was made to Bishop A Youkhanis of £Nil (2023: £575.64) in relation to church related travel.
Page 17