Charity registration number:1187924 Limited company number 12039007
Bulgarian Fellowship
(A company by guarantee and entitled to exclude Limited in the name)
Annual Report and Financial Statements For the Year Ended 30 June 2025
Bulgarian Fellowship
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Statement of Trustees’ Responsibilities | 2 |
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statement | 7 to 11 |
Bulgarian Fellowship
Reference and Administrative Details
| Charity Registration | 1187924 |
|---|---|
| Number | |
| Limited number | 12039007 |
| Independent Examiner | Stephen D S Baker ACA MAAT |
| Westlands Accountants | |
| Chartered Accountants | |
| McMillan House | |
| 6 Wolfreton Drive | |
| Anlaby | |
| HU10 7BY | |
| Registered office | 34B South Street |
| Bishop’s Stortford | |
| Hertfordshire | |
| CM23 3AZ | |
| Start date | 1stJuly 2024 |
| End date | 30thJune 2025 |
Bulgarian Fellowship
Statement of Directors’ Responsibilities
Aims and objectives.
The directors of Bulgarian Fellowship strive to make its activites line up with its two objectives and the charities commission recommendations of the charity commission on public benefit.
Those objectives are
-
To help advance the Christian Faith in accordance with belief and faith.
-
To teach and preserve the Bulgarian culture.
Statement of directors’ responsibilities.
Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit and loss of the company during the period. In preparing those financial statements the directors are required to:
-
Select suitable accounting policies and then apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking steps for the prevention and detection of fraud and other irregularities. In preparing this report the directors have taken advantage of special provisions of the Companies Act 2006 relating to small companies.
Approved by the director of the Company on 11[th] August 2025 and signed on its behalf by:
…………………..
Mr Bojidar Simeonov (Director)
Bulgarian Fellowship
Independent Examiner’s Report
I report on the accounts of the company for the year ended 30[th] June 2025 which are set out on pages 4 to 11 .
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me a reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act 2011; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
…………………….. Stephen D S Baker ACA MAAT Westlands Accountants Chartered Accountants McMillan House 6 Wolfreton Drive Anlaby HU10 7BY Date: 11[th] August 2025
Bulgarian Fellowship
Statement of Financial Activities for the Year Ended 30 June 2025
| Note Income and Endowments from: Voluntary Income 2(a) Activities for Generating Funds 2(b) Total income Expenditure: Expenditure on Church Activities 3(a) Cost of Generating Funds 3(b) Governance Costs 3(c) Total expenditure Net Income/(Expenditure) before investment gains Interest received Net Income/(Expenditure) Transfers Between Funds Net Movement in Funds Fund Balances brought forward Fund Balances carried forward 30 June 2025 |
Unrestricted funds £ Restricted £ Total 2025 £ Total 2024 £ 97,868 - 97,868 82,986 - - - 2,106 |
|---|---|
| 97,868 - 97,868 85,092 |
|
| 73,694 - 73,694 83,602 - - - - 2,000 - 2,000 1,350 |
|
| 75,694 - 75,694 84,952 |
|
| 22,174 - 22,174 140 |
|
| - - - 32 |
|
| 22,174 - 22,174 172 - - - - 22,174 - 22,174 172 66,417 - 66,417 66,245 |
|
| 88,591 - 88,591 66,417 |
Bulgarian Fellowship
Statement of Assets and Liabilities for the Year Ended 30 June 2025
| Note Fixed assets Tangible 4 Investment Current Assets Debtors & Prepayments 5 Short term Deposit Cash at Bank and in Hand Liabilities Amounts falling due within a year 6 Net Current Assets/(Liabilities) Total Net Assets Parish Funds Unrestricted 7 Restricted Total Funds |
Unrestricted funds £ Restricted funds £ Total 2025 £ Total 2024 £ 5,162 - 5,162 6,452 - - - - |
|---|---|
| 5,162 - 5,162 6,452 |
|
| 92,475 - 92,475 92,475 - - - - 14,473 - 14,473 97 |
|
| 106,948 - 106,948 92,572 |
|
| (23,519) - (23,519) (32,607) |
|
| 83,429 - 83,429 59,965 |
|
| 88,591 - 88,591 66,417 |
|
| 88,591 - 88,591 66,417 - - - - |
|
| 88,591 - 88,591 66,417 |
Bulgarian Fellowship
(Charity number number: 1187924)
(Limited number 12039007)
Balance Sheet as at 30[th] June 2025
For the year ended 30[th] June 2025 the company was entitled to exemption from an audit under section 477(2) of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 475 of Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 11 were approved by the directors, and authorised for issue on 11[th] August 2025 and signed on their behalf by:
……………………………………….
Bojidar Simeonov (Director)
Bulgarian Fellowship
Notes to the Financial Statements for the Year Ended 30 June 2025
1. Accounting policies
Going concern
The directors have at the time of approving the financial statements 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 statements.
Income
Income in the Statement of Financial Activities is recognised when the Company has entitlement to the funds, any performance conditions attaching to the item(s) have been met, it is probable that the income will be received, and the amount can be measured reliably.
Donations, grants, gifts and lettings income are recognised when receivable.
Income from legacies is recognised once probate has been granted, provided that the income will be received to enable valuation of the Church’s entitlement.
Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis and includes irrecoverable VAT.
Tangible fixed assets and depreciation
Other fixed assets
All assets are recognised at full value in the year they are acquired. Motor vehicles - 20% on cost
Debtors
Debtors represent monies expensed due back to the entity.
Creditors
Creditors, loans and provisions are recognised where the Company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Unrestricted Funds
These represent the remaining income funds of the Company that are available for spending on the general purposes of the Company, including amounts designated by the Company for fixed assets for its own use or for spending on a future project and which therefore are not included in its ‘free reserves’ as disclosed in the trustees’ report.
Restricted Funds
These are income funds that must be spent on Designated purposes as follows:
Bulgarian Fellowship
Notes to the Financial Statements for the Year Ended 30 June 2025
2. Incoming Resources
| 2(a) Voluntary Income Planned Giving Gift-Aided Giving Non-Gift Aided Giving Non-Gift Aided Digital Giving Gift Aid received Collections at Services Collections – Regular Services Collections – Weddings/Funerals Total Voluntary Income 2(b) Activities for Raising Funds Fundraising Events Income from Trading Income from Hall Lettings Club Contributions Total Incoming Resources |
Unrestricted funds £ Restricted funds £ Total 2025 £ Total 2024 £ 77,326 - 77,326 75,335 - - - - - - - - 20,542 - 20,542 7,651 |
|---|---|
| 97,868 - 97,868 82,986 |
|
| - - - - - - - - |
|
| - - - - |
|
| 97,868 - 97,868 82,986 |
|
| - - - - - - - 2,106 - - - - - - - - |
|
| - - - 2,106 |
|
| 97,868 - 97,868 85,092 |
Bulgarian Fellowship
Notes to the Financial Statements for the Year Ended 30 June 2025 (Continued)
3. Resources Expended
| 3(a) Expenditure on Church Activities Wages, Salaries, Clergy Costs Salaries & Wages Other Staff (In-Direct Costs) Clergy & Vicarage costs Church Mission & Evangelism Mission – Missionary (UK/Worldwide) Mission – Donations Mission - Outreach Church Upkeep of Services Church – Retreat Weekend Church – Cost of worship UK Church – Provision of Music Church Administration & Upkeep Church – Administration Costs Church – Maintenance & Upkeep Church – Travel and overseas travel Church – Utilities and rent Church - Depreciation Major Repairs & Other Properties Costs Church - Major Repairs Hall – Major Repairs Other Properties Total Expenditure on Church Activities |
Unrestricted Funds £ Restricted Funds £ Total 2025 Total 2024 £ |
|---|---|
| 25,643 - 25,643 28,858 - - - - - - - - |
|
| 25,643 - 25,643 28,858 |
|
| 25,764 - 25,764 28,725 - - - - - - - - |
|
| 25,764 - 25,764 28,725 |
|
| 3,494 - 3,494 - 2,292 - 2,292 7,001 - - - - |
|
| 5,786 - 5,786 7,001 |
|
| 1,596 - 1,596 1,069 - - - - 11,042 - 11,042 12,747 2,573 - 2,573 3,590 1,290 - 1,290 1,612 |
|
| 16,501 - 16,501 19,018 |
|
| - - - - - - - - - - - - |
|
| - - - - |
|
| 73,694 - 73,694 130,383 |
Bulgarian Fellowship
Notes to the Financial Statements for the Year Ended 30 June 2025 (Continued)
| 4. Fixed assets 5. Current Assets 6. Liabilities Amounts falling due within one year Bank loans Accruals Total at 30 June 2025 3(b) Costs of Generating Funds Fundraising Trading – Church Activities Fundraising Trading – Other (e.g. Shop) Investment Management Costs Bank Charges & Interest Payable 3(d) Governance Costs Independent Examiners Fees Total Resources Expended Cost Brought forward at 1 July 2024 Depreciation Brought forward at 1 July 2024 Charge for the year Total at 30 June 2025 a) Debtors Churches overseas Total at 30 June 2025 |
Unrestricted funds £ Restricted funds £ - - - - |
Total 2025 £ Total 2024 £ 22,319 31,157 1,200 1,450 Total 2025 £ Total 2024 £ - - - - - - - - - - - - - - - - 2,000 1,350 75,694 84,952 Motor Vehicles Total 2025 £ 10,080 10,080 3,628 3,628 1,290 1,290 5,162 5,162 Total 2025 £ Total 2024 £ 92,475 92,475 92,475 92,475 |
|
|---|---|---|---|
| - |
|||
| 2,000 |
|||
| 75,694 - |
|||
| Unrestricted funds £ Restricted funds £ 92,475 - |
|||
| 92,475 - |
|||
| Unrestricted Funds £ Restricted funds £ 22,319 - 1,200 - |
|||
| 23,519 - |
23,519 32,607 |
Bulgarian Fellowship
Notes to the Financial Statements for the Year Ended 30 June 2025
7. Fund Analysis
| Fund Type General Fund Un-Restricted Restricted |
Balance opening Incoming Resources Resources expended Investment gains/(losses) Transfers & other adjustments Balance as at 30th June 2024 66,417 97,868 75,694 - - 88,591 - - - - - - |
|---|---|
| 66,417 97,868 75,694 - - 88,591 |