Registered charity No : 1187641
ST MARY ERITREAN ORTHODOX TEWAHDO CHURCH
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED ON JANUARY 29, 2023
St Mary Eritrean Orthodox Tewahdo Church Charity Number 1187641
Trustees
Mr. BEREKET KEBEDE Trustee Miss LIDIA MULUGETA Trustee PRIEST DANIEL NEGASH TEKLEBRHAN Trustee
Mr. AFWORKI ANDEMARIAM Trustee
Reporting Accountant
AMANUEL HAILE MOGOS
16 Thompson Avenue
Parkfield
Wolverhampton
WV2 3NU
Bankers
Natwest Bank 1[st] Philips Place Birmingham
B3 2PT
Registered Office Flat 37 37 Victor Tower Bloomsbury Street
Birmingham B7 5BN
REPORTS OF THE TRUSTEES
The trustees present their reports with unaudited financial statements of the charity for the year ended on January 29, 2023. The trustees have adopted the provisions of Accounting and Reporting by charities: statement of recommended practice applicable to charities preparing their accounts in accordance with the financial reporting standards applicable to UK and republic of Ireland (FRS 102).
Objectives and Activities
In general, the main objective of the charity is to advance the Christian religion and in particular the orthodox faith, for the benefit of public mainly, but not exclusively through the holding of prayer meetings, worship services, lectures, public celebration of religious festive, provision of pastoral care and outreach work to enlighten others about the Christian orthodox religion.
The charity has been providing the following services and will continue to provide in accordance with its charitable mission and objective:
To teach and educate members of the Eritrean Orthodox Tewahdo church community the doctrine and principles of Eritrean Orthodox Tewahdo church.
To operate and promote youth activity both spiritual and physical to include the provision of Sunday school, youth meetings and family trips.
To teach children and youth Eritrean language and culture in association with Eritrean Orthodox church doctrine and principles.
To provide weekly masses (liturgy), performance of the rites of marriage, christening, funeral services and other ceremonies according to the principles of Eritrean Orthodox Church.
Achievement and Performance
The charity has resumed all its operation in its full scale after long interruption of the pandemic (COVID-19). The management body and volunteer have worked very diligently to serve the congregation through out the year. In this year the charity (our church) was blessed with ordination of four deacons and one priest which strengthens and expands the spiritual service capacity of the church. Those graduated spiritual servants of the church has been actively serving in the church and continued their service with the new ordination ranks.
More than one hundred students have graduated from Tigrigna class (mother language) of various levels of level one to level four. In addition, they have attended spiritual lessons regularly on the weeks ends.
The charity has achieved its long-awaited plan, which is purchase of church building for its congregation. The charity has made long term investment by purchasing church
building for the sustainable future operation and smooth service to the congregation. The fixed asset purchased (church building) is not originally intended for church services, as a result the building not ready for service at the point of purchase. The reason for not purchasing readily made church is that the cost of the buildings is unaffordable for the charity. The trustee (directors) had made lot of consultation with its congregation on the available real estate market and reached agreement to finally purchase the property. As the property is not ready for service the charity has made further investment on reconstruction and maintenance works.
Organisation
The charity is based in Birmingham, England (United Kingdom). Its congregation mainly came from Birmingham and its vicinity cities and towns which includes Wolverhampton, Walsall and Dudley. The management of the charity is vested in the trustee committee (Directors) who are appointed by the congregation in a general election which are conducted by the end of term of existing trustees. In general, overall general meeting of trustees and congregation are done annually. The trustee committee (Directors) meets at least once a month either via zoom or physically and are responsible for all decisions taken in relation to the management and administration of the charity.
Volunteers
Volunteers, who are member of the church are involved in our church and community activities contribute greatly both to our faith and community work. We encourage out youth to participate in our church activities and strengthen their cultural background and indigenous language. Trustees are responsible for the appointment of new trustee which is governed by charity’s constitution. Trustees (Directors) has created different volunteer committee which includes purchase committee, education committee, wellbeing and safety committee to facilitate the operation of the charity. The trustees are very grateful for all the volunteers who have served the trust, and we believe the invaluable contribution of volunteers in the years to come.
Fundraising Activities
The church has continued to receive donations from the congregations in this current year. In the past few years, the congregation have continuously campaigned and performed various activities to secure a fund at least for the initial stage of the plan, purchase of church building. Combination of all those efforts and blessing almighty God the charity was able to purchase a church building in central Birmingham in this reporting (2023). Furthermore, as the building is not ready for church service reconstruction work is undergoing in the site. For this reason, the congregation are doing all the required activities and services to continue fundraising activities.
Future Plan
The charity has short term and long-term plans to create an environment where the congregation could get enhanced spiritual and charitable services. One of the short plans are accomplishment of the reconstruction work for church. The trustees (directors) have been working and will continue to work to secure enough fund for the purpose of maintenance and reconstruction work. Moreover, the charity will continue training young adults and children in spiritual and religious courses to strengthen and expand services to the congregation and the community in which they operate.
St Mary Eritrean Orthodox Tewahdo Church Statement of Profit and Loss For the Year Ended on 31 January 2023
| 2023 | ||
|---|---|---|
| £ | ||
| Revenue | £187,729.00 | |
| £ | ||
| Cost of Sales | - | |
| Gross Income | £187,729.00 | |
| Project Related Expenses | £ | 30,406.00 |
| Surplus | £ | 157,323.00 |
| Less : Settlent of Loan / Debt | £ | 33,000.00 |
| Surplus Carried forward | £124,323.00 |
St Mary Eritrean Orthodox Tewahdo Church
Balance sheet
As at 31 January 2023
| 2023 | ||
|---|---|---|
| £ | ||
| Fixed Assets | £716,286.00 | |
| Current Assets | ||
| Debtors | ||
| Cash at Bank and in hand | £83,163.00 | |
| Creditors | ||
| Amount falling due within one year | £0.00 | |
| Net Current Asset / Liability | £83,163.00 | |
| Total Asset less Liability | £799,449.00 | |
| Net Assets / Liability | ||
| Capital and Reserve | ||
| Retained Fund | £565,106.00 | |
| Surplus for the year Ended | £157,323.00 | |
| Amounts falling after one year | £77,020.00 | |
| Charity Fund | £799,449.00 |
St Mary Eritrean Orthodox Tewahdo Church Notes to the accounts For the Year Ended on January 31 2023
Presentiation of the currency is in Pound Sterling ( £ )
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FSR 102 - The financial reporting standard applicable in the UK and Republic of Ireland and the company acct of 2006.
Basis of operation
The financial statement has been prepared under the historical cost convention as modified by the valuation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Going concern basis
The directors believe that the company is experiencing good level of income from the contribution of its members and it is well placed to manage its business risk successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statement.
Tangible fixed Assets
Tangible fixed assets other than freehold land , are stated at cost or valuation less depreciation. Depreciation is provided at rates calculted to write off the cost of fixed assets less their estimated residual value over their estimated live of the assets.
Depreciation of the building is not calculated as it was purchased at the end of July 2023 and still the repaire and maintenance work is under going on the site.
The value of Fixed asset - church building is £ 716,286 .
St Mary Eritrean Orthodox Tewahdo Church Notes to the accounts For the Year Ended on January 31 2023
| Accountancy Policy | ||
|---|---|---|
| Income | ||
| Income represents the value of income donation | received during the year | |
| 2023 | ||
| £ | ||
| Creditors : Amount falling with in one year | £0.00 | |
| Statement of Financial Activity | ||
| Unrestricted | Restricted | |
| Fund | Fund | |
| Income Sources | ||
| Membership | £10,005.00 | £0.00 |
| Donation | £177,724.00 | £0.00 |
| Total Incoming resources | £187,729.00 | £0.00 |
| Total Expenditure | £30,406.00 | £0.00 |
| Net Incoming resources for the year | £157,323.00 | £0.00 |
| Fund balances brought forward | £565,106.00 | £0.00 |
| Movement in the year | £157,323.00 | £0.00 |
| Liabilities due less than one year | £0.00 | |
| Fund balances carried forward | £722,429.00 | £0.00 |
| Net current asset | £722,429.00 | £0.00 |
| Liabilities due after one year | £77,020.00 | |
| Charity fund | £799,449.00 | £0.00 |
St Mary Eritrean Orthodox Tewahdo Church Schedule to the Profit and Loss account For the Year Ended on January 31 2023
| Income Income form membership Donations Other incme Total income Project related expenses Rent and Utility Church service Broadband and phone charge Stationeries Annual religiouse celebrations Volunteer expenses Training and courses Legal fees ( Accountancy fee ) Total Expenses Net income |
2023 £ £10,005.00 £177,724.00 £0.00 |
|---|---|
| £187,729.00 | |
| £6,363.00 £0.00 £132.00 £391.00 £3,000.00 £18,420.00 £2,100.00 £0.00 |
|
| £30,406.00 | |
| £157,323.00 |