2024-03-31-accounts - St Mary's Jacobite Syrian Orthodox Church Manchester

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered Charity Number:- 1189910

Company No. CE022154

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER a Charitable Incorporated Organisation

TRUSTEES’ REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR END 31 March 2024

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

CONTENTS

FOR THE YEAR ENDED 31 March 2024

TRUSTEES' REPORT ....................................................................................................................................................... 3 INDEPENDENT EXAMINER'S REPORT ....................................................................................................................... 6 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................................ 8 BALANCE SHEET ........................................................................................................................................................... 9 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 9

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 March 2024

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE022154

Charity No. 1189910

Registered Office

Moffat Close

Bolton

BL2 6UA

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Rev Geevarghese Thandayath

KURIAKOSE KOCHUPARAMBIL JOSEPH

AJEESH CHERIAN

BIJOY ALIAS

SAJU PAPPACHAN

KERNAL EAPEN

ELDO PERINGATTEL KURIAKOSE

JOBIN GEORGE

SINDU SAJU

BINU THANKACHAN

BASIL SUNNY

THOMAS PAUL

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 March 2024

Accountants

ACS ACCOUNTANTS LTD

58 HIGHBURY GROVE

PORTSMOUTH

PO6 2RS

OBJECTIVES AND ACTIVITIES

THE OBJECT OF THE CIO IS, TO ADVANCE THE RELIGION OF THE JACOBITE SYRIAN (SYRIAC) ORTHODOX

CHURCH IN GREATER MANCHESTER AND SURROUNDING AREAS BY:

MAINTAINING THE FAITH, TRADITIONS AND DOCTRINES OF THE JACOBITE SYRIAN (SYRIAC) ORTHODOX CHURCH AND PERFORMING ALL THE RELIGIOUS RITES AND SACRAMENTS FOR ALL ITS MEMBERS IN ACCORDANCE WITH THE TRADITION FOLLOWED BY THE JACOBITE SYRIAN (SYRIAC) ORTHODOX CHURCH IN INDIA.

4.2. CONDUCTING THE HOLY EUCHARIST, SACRAMENTS AND SERVICES IN ACCORDANCE TO THE FAITH, TRADITIONS, CUSTOMS AND RITES OF THE JACOBITE SYRIAN (SYRIAC) ORTHODOX CHURCH; 4.3. PROVIDING HOLY SACRAMENTS TO ALL ITS MEMBERS;

4.4. ESTABLISHING CHARITABLE INSTITUTIONS FOR THE WELFARE OF THE MEMBERS OF THE CHURCH AND FOR THE POOR AND NEEDY; 4.5. ORGANISING AND CONDUCTING SUNDAY SCHOOL, PRAYER MEETINGS, RETREATS, YOUTH ASSOCIATION AND VANITHA SAMAJAM (WOMEN’S ASSOCIATION) AND SPIRITUAL ORGANISATIONS AND ACTIVITIES; AND 4.6. TO FURTHER SUCH CHARITABLE PURPOSES FOR THE BENEFIT OF THE PUBLIC AND ARE EXCLUSIVELY CHARITABLE ACCORDING TO THE LAWS OF ENGLAND AND WALES AS THE CHARITY TRUSTEES MAY FROM TIME TO TIME DETERMINE.

FINANCIAL REVIEW

During the year, CIO’s Church property development expenses were paid by St Mary’s Jacobite Syrian Orthodox Church Manchester unincorporated charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The nature of the governing document and how the charity is constituted as CIO

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 March 2024

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

KERNAL EAPEN 16/10/2024

Trustee

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 March 2024

I report to the charity trustees on my examination of the financial statements of ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act').

In carrying out my examination I have followed the Directions given by the Charity Commission under section145(5)(b) of the 2011 Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Accounting Technicians.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 March 2024

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Seejo Tony

17/10/2024

Member of Association of Accounting Technicians

ACS ACCOUNTANTS LTD

58 HIGHBURY GROVE

PORTSMOUTH

PO6 2RS

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 March 2024

Recommended categories by activity Notes Income and endowments from: Donations and legacies 2 Total Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds £ Restricted income funds £ Total Funds 2024 £ Total Funds 2023 £ - 232,560.00 232,560.00 305,290.00
	- 232,560.00 232,560.00 305,290.00
	- 232,560.00 232,560.00 305,290.00
	- 232,560.00 232,560.00 305,290.00 - 621,357.00 621,357.00 316,067.00 853,917.00 853,917.00 621,357.00

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

BALANCE SHEET

Recommended categories by activity Notes Fixed assets Tangible assets 4 Total fixed assets Total net assets or liabilities Funds of the Charity Unrestricted funds 5 Restricted income funds 5 Endowment funds 5 Total funds	Unrestricted funds £ Restricted income funds £ Total Funds 2024 £ Total Funds 2023 £ - 853,957.00 853,917.00 621,357.00
	- 853,957.00 853,917.00 621,357.00
	- 853,957.00 853,917.00 621,357.00
	- - - - - 853,957.00 853,957.00 621,357.00 - - - - 621,357.00 853,917.00 621,357.00

The financial statements were approved by the Board on and signed on its behalf by: 16/10/2024

Kernal Eapen

Trustee O THE FINANCIAL STATEMENTS

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

1 Accounting Policies

1.1 Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.2 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts have been prepared in accordance with “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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These accounts are presented in pounds sterling and rounded to the nearest pound.

1.3 Going concern

The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity 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 accounts.

1.4 Changes to accounting estimates

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

1.5 Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.

Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.

Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.

Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.

1.6 Taxation

The organisation is a registered charity and has no liability to income tax or corporation tax on its charitable activities during the year.

1.7 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

1.8 Fund accounting

Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

1.9 Tangible fixed assets

Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. It has been decided not to provide depreciation on land and buildings.

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

2 Income from Donations and Legacies

Analysis Donation and gifts	Unrestricted funds Restricted income funds Endowment funds Total funds 2024 Total funds 2023 £ £ £ £ £ - 232,560.00 - 232,560.00 232,560.00 - - - 232,560.00 232,560.00

3 Extraordinary Items

Please explain the nature of each extraordinary item occurring in the period.

This year last year Description

£ £

Extraordinary item 1 Extraordinary item 2 Extraordinary item 3 Extraordinary item 4 Total extrordinary items

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

4 Tangible Fixed Assets

4.1 Cost or valuation

Freehold Land & Buildings

At 01 April 2023 Additions Disposals Revaluations Transfers At 31 March 2024	£ 621,357.00 232,560.00 - - - 853,917.00

4.2 Amortisation and impairments

At 01 April 2023 Additions Disposals Revaluations Transfers At 31 March 2024	Freehold Land & Buildings £ - - - - - -

4.3 Net book value

Freehold Land & Buildings £ At 01 April 621,357.00 2023 At 31 March 853,917.00 2024

ST MARY'S JACOBITE SYRIAN ORTHODOX CHURCH MANCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2024

5 Charity funds

Details of material funds held and movements during the CURRENT reporting period

Fund names Unrestricted funds General Fund Restricted income funds Restricted income funds Total	Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ - - - - - - 232,560.00 232,560.00 621,357.00 - - - - 621,357.00 621,357.00 232,560.00 - - - 853,917.00