Charity registration number'.1187924 Limited CDmpany number 120390D7 Bulgarian Fellowship {A company by guarantee and entitled lo exclude Limited in the namel Annual Report and Financial Statements For the Year Ended 30 June 2024
Bulgarian Fellowship Contents Reference and Administratlve Deta115 Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activitie8 Balance Sheet 5106 Notes to the Financial Statement 7t0 11
Bulgarian FelI0vhIp Reference and Administrative Details Charity Registration Number 1187924 Llmlted number 12039007 Indep¢ndgnt Examlner stephen D S Baker ACA MAAT Wèstlands Accountants Chartered Accountants Mcmillan House 6 Wolfreton Drive Anlaby HU10 78Y Registered offlGe 34B South Street Bishop's Slortford H¢rtfordshlro CM23 3AZ start datg 111 July 2023 End d818 301h June 2024
Bulgarian Fellowship Statement of Directors, Responsibilitles Aims and objectives. Tho directorB of Bulgarian Fellowship strive to make its actlvites Ilne up with ils iwo objective8 and the charities commis51on recommendatlons of the charity commlssion on public benefit. Those objectives are 1. To help advancé the Christian Faith in accordBnc& with belief and farth. 2. To teach and preserve the Bulgarian culture, Slaternent of directors, responsibS111ies. Company law requires the directors to prepare financial statements for each financial year which glv@s a Irutr and fair view of the stal8 of affalrs of the company and of the profil and loss of th8 company durlng the period. In preparing those fin8nclal slalemenls the dlreclor5 are required to.. Select sullable accounting policies and then apply them cons1stenlly Make judgements and •$tlmates that are reasonable and prudent Prepare flnan¢lal ¥talemenls on a going concern basls unl&s$11 Is Inappropriate lo presume that the company will continue In business, The dlreGtor5 are re8ponsible for keeping proper accountlng records whlch dl8c1088 wlth reasonable a¢curaoy at any Ilme the financlal posllion of the Gompany and lo enable them lo ensure that the flnancial statements comply with the Companl8s Act 200S. They aft also responsible for safeguarding the a55ets ol the company and hen¢e for laklng stops for the prevention and dete¢llon of fraud and other Irr$gularities. In preparlng this report the dire¢tors have taken advantage of speclal provlsions of the Companles Act 2006 relallng to Small ompanles. Approved b t11e¢tor of the Company on 16th July 2024 and slgned on Its behalf tjy.. Mr Bojidar Slmeonoj {Directorl
Bulgarian Fellowahip Independent Examiner's Report I report on the ac¢oun18 of the company for the year ended 30th June 2024 which are set out on pages 4 to 11 We understand that this has been don& in order for the accounts to provide a truo and falr vi in accordance with the Generally A¢pted Accounting PraGlice effective for reporting periods beginning on or after 1 January 2015. Rèspective responsibilities of trust88s and gxaminèr The charity's Irusl@@s are responsible for the preparation of the accounts. The ch3rity's trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Acll and that an independent examination is needed. The Charity's gross In¢ome exceeded £250,000 and l am qualified to und8rlake the examination by being a qualified member of the Institute of Charl8r8d Accountants in England & Wales. It is my responslbility to.. examine the account8 under section 145 of the 2011 Act., lo follow the procedures laSd down In the gen8ral Dlrecllons glven by the Charity Commlssion under section 14515llbl of the 2011 Act., and lo slate whether partlcular matters hav8 come lo ry all6nllon. 8a618 of Independent examlner's report My examlnalion was carried out in accordance wllh the general direGtlons glven by th8 Charlty Commission. An èxaminallon includes a r8vlow of the a¢¢ounllng ré¢ords képl by the charity and a Gomparison of the accounts presented wSlh those record8.11 also includes Conslderatlon of any unusual items or d15¢1osur8s in the accounts, and seeklng explanations from you a5 trustees ¢on¢ernlng any such mallers. The procedure8 undtrrtoken do not provide all the evidence that would be requlred in an audit and Gonsequenlly no tsplnion Is glven as lo whether the accounts present a 'lrue and falr view, and the report 1$ Ilrnited to those mallers sel out In the slalement below. Independont examlner'¥ statement In connection with my examinallon. no mall&r has come to my attention.. 111 which glves me a reasonable cause lo belleve that In any malerlal respect the requlremenls.. to ktrep a¢counllng records in accordance wlth section 130 of the Charitles Act 2011., and to prepare accounts whlch accord with the accounlir¢g records and comply wllh the accounllng requirements of the 2011 Act have not been met., or 12> to which, In my opinlon, altontlon should be drawn in order to enable a proper understandlng of the accounts lo be reached. Stephen D S Baker ACA MAAT Westlands Accountants Chartered Accountants Mcmillan House 6 Wolfreton Drive Anlaby HU10 7BY Dats.. 16th July 2024
Bulgarian Fellowship Statem9nt of Financial Activities for the Year Ended 30 June 2024 Note Unrestrlcted funds £ Re$tri¢tod Total 2024 Total 2023 Income and Endowmonts from: Voluntary Incorne Activities lor G2neratSng Funds 21al 21bl 82,986 2,106 82,986 80,537 1,664 Total income 85,092 Expendlture: Expenditure on Church A¢livS1108 Cost of Generallng Funds Governance Costs 31al 31bl 31cl 83,602 83,602 130,583 Totsl expenditure 84,952 84,952 131683 Net Incom8llExpendilurel before inveslm6nl gains 140 140 149,4821 Interest recelvèd 32 32 Not IncomellExpendilurel 172 172 149,4821 Tr8t7sfers Beiween Funds Net Movement in Funds 172 172 {49,482} Fund Balan9 brought forward 66,245 66,245 115,727 Fund Balances carrled forward 30 June 2024 66,417 e6,417 68,246
Bulgarian Fellowship Statement of Assets and Llablllties for the Year Ended 30 June 2024 Note Unrestrictod funds £ Restrlcted funds £ Total 2024 Total 2023 Flxed assets Tangible Investment 6,452 6,452 8,064 6,452 Current Ass Debtors & Prepayments Short term Deposit Cash at Bank and in Hand 92.475 92,475 92,475 97 97 268 Llabilities Amounts falllng due within year 132,6071 132,607) 134,5621 Net Currènt A88etsllLlabllltlesl 59,985 59,965 58,181 Total Not Assets Parlsh Fund8 Unreslrlot6d 66,417 66,417 66,245 Reslriclgd Total Fund8
Bulgarian Fellowship (Charity number number: 1187924) (Limited number 12039007) Balance Sheet as at 30th June 2024 For the year ended 30th June 2024 the company was entllled lo ex8mplion from an audlt under section 477(21 of th8 Companles Act 20(k8 relating lo small companies. The members have not requlred the company to obtaln an 8udit in accordance with sectlon 475 of Companies knt 2008. The directors acknowledge Ihelr responsibllity for complying with tha requirements of the Companias Acl 2006 wllh respect lo accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provlsions applicable lo companltss subject to the 8m811 companies r8gime, The flnanclal $lat .•enls?n pages 6 2024 and sign on th8ir ehalf b 1 were approved by the dlre¢lors, and aulhorls8d for i55u8 on 16th July Boli ime clorl
Bulgarlan FellowshSp Notes to the Financial Statements for the Year Ended 30 June 2024 Accounting po15cies Golng concern The directors have at the lime of approving the financia5 statements a reasonable expeclatlon that the company has adequate resOurS lo continue in operational existence for the foreseeable future. Thus, they continue lo adopt the going concern basis of accounting in preparing the financial statement8. Income Income in the Statement of Financlal Actlvllles Is recognSsed when the Company has entitlement to the funds, any performance conditions attaching to the iteTnls) have been met, il is probable that the Income wlll be received, and the amount can be measured reliably. Donatlon5. grants. glfts and lettlngs income are recognised when receivable. Income from legacies Is recognl$ed once probate has been granted, provlded that the Income wlll b8 recelved to enable valuation of the Church's entitlement. Expendlture Expondlture Is Included In the Statement of Flnanclal Actlvlties on an a¢¢rual8 ba$ls and Includes irrecoverable VAT. Tanglble Ilxed a88ets and depr&¢latlon Other fixed assets All a5Sèt5 are rècognl$ad at full value in the yèar they are acqulred. Motor vehlcles 200A on cost Debtor8 Debtors represent rnonl&s expensed du8 back to Ihg enllly. Credltor8 Credltors, loans and provisions are recognised whare the Company h88 8 pr8senl obllgallon r88ulting from past event that will probably result in the transfer of funds lo a Ihlrd party and the amount due to settle the obligation can be rneasured or o$1imated reliably, Unrestriclod Funds These represent the remainlng income funds of the Company that are available for spendlng on the general purposes of the Company, includlng amunt5 designated by the Company for fixed assets for ils own use or for spending on a future project and which Iher8fore are not included in its 'free resèrves, a8 discloyèd in thè trustees, report. Restrlcted Funds These are income funds that musl be spent on Dosignated purposes as follows..
Bulgarian Fellowship Notes to the Financial Statements for the Year Ended 30 June 2024 2. Incomlng Resources Unrestrlcted fund5 Restrlcted funds Total 2024 Totsl 2023 21al Voluntary Income Planned GlvSng Gift-Aided Giving Non-Gift Aided Giving Non-Gift Aided Digital Giving Gift Aid r8ceived 75,335 75,335 70,613 7,651 82 986 9.924 Collections at Servlces Collections- Regular S¢rvlces Collection8- WeddingslFuneral$ Total Voluntary Income 82,986 21b} Actlvltles for Ral8lng Funds Fundralsing Events Income from Tradlng Income from Hall Lettings Club Conlributlon$ 2,108 2,106 1,664 Total Incomlng R880urc86
Bulgarlan Fellowship Notes to the Financial Statements for the Year Ended 30 June 2024 {Continuad) 3. Resources Expended Unrestricted Funds Restricted Funds Total 2024 Total 2023 31a} Expenditure on Church Activities Wagès, Salaries, Clgryy Cost8 Salarles & Wages Other Staff Iln-Direct Costs) Clergy & Vlcarage costs 28,858 28,858 4,860 ChurGh Mlsslon & Evangellsm Mission - Missionary IUKJWorldwidel Mission - Donations Mlssion - Outreach 28,725 28,725 66,616 ChuKh Upkeep of Servlces Church- Upkeep of Services (People) Church- Cost of worship UK Church- Provision of Music 7,001 7,001 23,624 Church Admlnlstratlon & Upk•èp Church Adminislrallon Costs Church - Maintenance & Upkeep Church - Travel and Overseas travel Church - Utilllies and rent Church - Depreelation 1,069 1,069 7,589 12,747 3,590 1,812 12,747 3,590 18,174 7,504 2,016 Major Repalrs & Other Propertle8 Costs Church - Major Repairs Hall- Major Repairs Other Properties Total Expendlture on Church A¢tlvltle6 130 383
Bulgarlan Fellowship Notes to the Financial Statements for the Year Ended 30 June 2024 (Continued) Unrestricted fund8 Restrlcted funds Total 2024 Total 2023 31b} Costs of Generatlng Funds Fundraising Trading Church Activities Fundraising Trading - Other {e.g. Shopl Investment Manag9ment Costs Bank Charg@s & Interest Payable 31dl Govgmance Costs Independent Examiners Fees Total Resources Exponded 131683 4. FlxBd a88ets Motor Vèhl¢lo8 Total 2024 Cost Brought forward al 1 July 2023 10,080 10,080 Dopreclatlon Brought forward at 1 Juty 2023 Charge for the yéar 2,016 1,612 2,016 1,612 Total at 30 Jung 2024 6. Current Assets Unrostricted funds Restrlcted funds Total 2024 Total 2023 al Debtors Churches overseas 92,475 92,475 92,475 Total at 30 June 2024 92,475 6. Llabilitios Unrestrlcted Funds Restrlcted funds Total 2024 Total 2023 Amounts falling due withln one year Bank loans Accruals 31,157 1,450 31,157 1,450 33,362 1,300 Totsl at 30 June 2024 32,607 32,607 34,662
Bulgarian Fellowship Notes to the Flnancial Statements for the Year Ended 30 June 2024 7. Fund Analysis Fund Typ• Balanc• opgnlng Incoming Resources Rèsource? Inve8trn8nt galnslll¢>ssesl Transfors & other adlustmgnts Balance as at 30, June 2024 expended General Fund Un-Ré&trieted R8Blricl8d 66,246 88,OW2 84,962 32 88,417 68,24S 85,092 84,452 32 66,417