Charfty r•gl8tratlon nwnb•r 1190506 ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH LEGAL AND ADMINISTRATIVE INFORMATION TrustO¢5 DrAGorgy Dr B Ma1 Dr E Morgan Dr M Moaw•J Charlty numb8r 1190506 Prfndpal addr9¥ Riekman Hlll CoulsdoA Surrey CR5 3DS Audltor Rowena Walsh FCCA MannlThJtons Charter&JAc&)untants 39 Hlgh Stre8t Batme East SLLssex TN33 OEE Accountsnts Holland H8rper LLP 26 High Street Batue East Sussox TN33 OEA Bank•rs HSBC 79 Plccadll WIJ 8EU B8rd8y5 Leir*st•r L•lcestsr8Nre LE87 28B
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH CONTENTS P•gè Trnst88S' rnport Statement of trust885' fespon8ibilth¥ Indopend8nt ¥uditorfs report Statsment oi financial activitie Statsm8nt of financial p11 SIatsnnt ol cash flows Note¥ to the financi818laternents 10-18
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 finonoal stat•rnénl$ aftd vlith the charrWs Constskn. Act 2011 a1 "Accounting and Rewjrbng by charits.. StnnI of Rgc¥rnmeTrJed Pra(kn apFtsble to (arilies weparing their accounts In 0cwrd8 Mth thg FinarKial RgFrfybng Stathd UK aryl Reput of Ireland IFRS 102r leffecbve 1 J4nuary 20191. ObJaetlv•s and aetl¥illÈs The charity 18 a trust 8nd is w¥eI by ItsTntst Deed. The obiads dthè drIty.a5 set out in ts wwwniThJ dopjment are to the r1g Copth OrtIKxkn CPxuch in of ETrJlaTrJ. The trustees note that tho Chutch is rt a a gablwiTrJ of rydThry of drfl8Tent 099$ and ba¢kgrounds.whose INes have been chaFW by J&us CIKis(the kn ol (>)d. Tr Tèstsm8nt reveals the Church as a community ot kwpl¢, tKopety tsh1 and carj lor, by lowrvJ seNr4J Jesus Christ, a150 committed to k)ve and Ca for eath 0th8r aThl to 8 t4essirvJ to the in which ti livad. St Mary and St Shertsjuda ctic Church: its tru$, efders aThJ mborS are (wmitted to the restor8t#)n of New Testamènt It not In this. it is of many Churches in the area, country and all over th8 thal i8 the excitenwni of krvthl Jesths Christ. Tha Lord, SavK)w and frisrtd. The trustees have paid dL fBgartl to 9wJ8r isTAd by ts Chwlty Commtsgtyb what atvlbes tho AchIrnents and perforniar To further thg above Obj and vis#)n. the tharitys main alareS aThJ thwements as ffJ1.. Ihout theirellrxt3. Flnanclal rwlow During the year income decreased by £289.375 (lasi indLhded the gfft element of r308.092 rèlating to properbes glied to the eh•ity) 19 £380,123 and expenditijre derxeased by £5.031 to £229.736. As a r¢su tho suwplus year decxeawj by £284.344 tr) £19).387 and the charitys nèt •ss•ts NK¥eased by the sarne armjnt to £3,$58.7%. Net rrent assels imased by£151.652 to £1.401.842. t100.000 (Wh aqu8 to atoul 8 nK)nth$' ofunreslrid•J expeThYitUI so tlwtlhe (wity coJkJ con'nue to operata thjukl irwme 8n(Vor ?xpeThYityrg ¥wy adv$&y. At thg yèar end. th8 dwrity hgkl unro$tricbJ tssh ¢t£l.325,547 and the ¢aiity is 7hilh its reswves [1. Plans for future perlods The Buik1iNJ Prqect i% Ordj r8g•LfrrfJ th* dvffjkymont ofts Hal.
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 DrA Gorgy Dr B Maxwdl Dr E Morgan Or M Moawad regularfy to m¢nitor Ihe acbvibes ol Ihe ctharity. HH Pope Tavmdrous Ilappts th• c4)mFThltee charivs cu5tc4kn Inle• 15 HH Pipe Tawa¢*rKts 11. vtho t#)klB lo fv wopety lxkny.ng to Ihe Father M As¥•d Falhèr l Henein best pradices in go¥emarv. Kèy rfsks and ur4c•rt thB charl$ actlvilf88 regularty to Klentify sff4nifjcanl ii5ks a1. tK6sQ)k. thèy take approwiale m•8sures to mitigate thw risks. OrA Gorgy
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2024 Tha trustw lire r£spon8ible for prep¥dn9 lh¢ lrnglees, raport ants Ihe finanty81 statements In 0(x0rdrA th th8 United Klngdiim Accounting Standards IUnit•d Kingdom Generaty Att¢pt•d Accwnthg Pr8&ico) ontt appb'¢ablo law and 1ogul..itions. The law app11ble to charitses requlfes the trusiees to prepare fln8rtJal statemonts for eath finandal year whlch a aid fair VI of ihe ststo of affairs of th$ charity and of Ihe incoming r¢sourc•s and appllcalion of styjrcas ofiw ¢harlty for that peric4J. In preparing th8se Ilnand81 statsm•nts, the tru¥lees are required to: • sele<l suitable acctyJnling p0cles and th apply them nsistenI¢y.. • obse ve Iha mothod$ and prlncAples in the Ch8rlties SORP; makf judgemènts and eslsrnales that are reasonabl• and pOnt.. ¥tste vthtrther applicablo aCLounttng stsnd8rd$ have begn followed. subJ6Ct to any malerial departu dL8diJssd and expl#tn8d in Ihe finanwl ststsm¢nts and PTepiire Ihe finandal ststeménts on the 9Otng concem basls unless li IF inapproprbte lo prtwn thBt the thartry ¥1 c4Jnlinue in business. The truslees ar6 responsib kn k$ing proper a(%ounbng lerS that dildo wSth rea50naL48 8CC4Jr8w al any Ume the fin811¢io1 positlon of the eharfty and en¥ble them to ensure trt finanaal 5falemenb comply llh the ChariOe3 Act 2011. Ihe Charity IAccounl$ Reports} Regulations 2008. and the prOwonS of the nStitUtion. The trustees a 8180 r8sponslble lor saleguanling tho assets ol Ihe ¢h9rtty arKI hen¢e for taklFVJ Tea8onabk steps forlhe prevgrillon and dete(orb of fraud olher trregul8dtley. Th& tru&t899 4r• fesponsiW¥ maintenanco and Int8giily of lh• ¢orpwalg and financial infijmatson Includ•d on Ihè charilable companvs web51te. L¢gslatlon govemuig Ihe prep#rafj( and dis8emin8tson ol financial statèmonts fflay diffgrfro'n iegislabon in otherltsrlsdicbons. Approved by th• Irustees of the tharity on 20 January 2026 and slgngd on Its behall ty. DrAGorgy Trusts• 5/...2016
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH INDEPENDEKf AUDrroR'S REPORT TO THE TRUSTEES OF ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH Oplnlon W8 have audited th¢ fin8rK4al statgrrwts of St Mary & St ththodox crth {the'chwltyl for Ihe year ended 31 DOrnber 2024, th8 sinont of Financ4al Ackntses, BaLar Sheat, Cashflow 4nd Notès to tha Finandal statèm. Indlirj a of lnI x£J)unl9 FtieS. Th8 finawal reporbng fram8th Ihat has ba•n in thoir pr•p8Fakn rd Unitad Standard8. compri&ng Chariiles SORP- FRS 102 Tr Fina Rwrtw Srd apF4tabltr UK and Republic ol Ireland and apbIl (Unitod ngdorn GengrBllyAc Pra(aK•I. In our opinkn. fin•rK4ul 31oterrwts: glve a true aThJ f8tr ol IM st8t• ol at 31 DKwnbor 2024 arKI of Its rn8Urtg for th• year then eThJ,. and B••l• for oplnlon W• nduct9 our audtt in Kcorda wblh Intoma StaThJArds AuditsrMJ IUKI IISA8 IUKII and applicgble law. Our responbIlItieS under tlxjse standards arn lurtr d•styibed in ts JJditor8 rwonblllU•s br the Ud ol th¥ fingnclal 8ts1ements $tIOn ol ¢)ur r¢F#yt. We arg indepeTrJant ol the charfty in crdanCe th the ethical requlr•mont8 that arè r818vant to our alit ol the financlal stat8mlS in thg UK. induthng th• FRC'8 Ethi1 Standard, and wè havè I11¢d wr other ethScal 8plItieS In o¢tsydpnce wlth Ihese requlrfrments. W¢ boligve that th oudil •vbJwu hovo olthrl li wffK>ont •¥J apmi kn WV41• a bath ow ophiw. Con¢lu•lon• rel•tlng to golng eonc•m In audltkng thg finanuol elat0nnIs. we c4XKIed th•t th• trul1• ol Ihp gclng (Xxum bosb ol a(untIr In th? prwralkn olthe slat•Mts IJ apprwiats. Based on the Wrk wa h8v• Kwltynwj. wa hm rKI Id¢ntified any materfal UrKrt8#oI relaiing lo even18 or ¢ondltton$ that, hKIloU¥llY may c8St slanfficont do cm Ihg #tllty lo ConnUe a8 a golng rnknvant 8actson• of IN8 rnF#yI Oth•r Infomi#tlon Th• tru81ees are M9pJnslt48 (or othèr Intmathyb. Tho other Inlomwllon comprkng thè In(om)olton In¢ludod In o annual rgwt. other than Ihe finawd 51aternents and &#JFkY'8 r•p)rt th¥rn. othion on Ihe flnancial 8talemenl¥ OJes c4J¥er ts other InlcrnJon aThJ. •xc•pt tr> th• Slated In rwrt. we do not expres8 any frjmi ol aswrnnc• c4)ndusKx) Ihert&). In connectkn wlth ow audlt ol the finanual statwn8nts, rOwbIlty 15 to read the oth8f ln1crfmalic aThJ. In dolng so. ccffisider vthgtlr tr olhgr Irformati l¥ mgtsrialty in¢xJnslstenl wlth fin8Th281 statsmonts or knowl•dg• obtained in the audrt or oth1$¢ appews to be ffl8terd miss1+. 11 we #Jgntify Such malerfal incongst•ntho5 ty oppar8nt maitri•l mis8tst9rnts, we reQred to det6min• whèthgr there is a malertal mi8stat•m8nt in th• firwKial staternl8 or a materfal miS81at8n ol th• other intDrrnation. 11, basod on the work report that facl. W? havo rthing tr) rewt In thkg regwd.
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST MARY & ST SHENOUDA COPTIC ORTHOI)OX CHURCH Matters on whl¢h w• are requlred to report by •xrAPtlon In the light of our knowledgg and urtd8rstanding of the charfty and Its onvironment obtalned In the CAJurso of tho udll, wg have not Klendfled Materi rn138tstements th lh$ TnKgt8e3 RgFQrt. Wè h8VO nolhing to rewrt in wspo¢t ol tho f¢lltywing mattarg vth¢ro Iho Chartties Acl 2011 reques us to rnport to you il. In our oplnion.. 8dequat8 accounténg records have not b88n kapt. or rolum$ ad0qua lor our OlIt have not been received from br8nches not vblted by us: G th• ffingnclal 9tat8ments ar8 not In agreemgnt %¥lth th8 acruntIng rgoyd$ and r•tum8: or c8rtaln dlBdoour08 oflnmtee renwJner8U¢)n epaced by law are rt made., or we not r•coW all th¢ Inftyrmltx and expl#natbn8 wo requlf• forour audll. R•spon•lbllltl•• ol tru•t•e• The tru8tees are respon8ible for the preparnuon of tho finandal 8tstements and for bdng 8at18fl•d that thay gl true and lalr vlew. and for ouch Inlwnal wnlrol a8 the In1&e8 d8ieTmlne16 n8ce88ary to enabl8 th8 pr8Parntton of fln8n¢lal stAlem•nt8 that are fr8& from mat8rlal ml$st8tem8nt, wheth8r dug to hud or •rror. In prep8riwJ the fin8nc481818t•m•nl8, Ihe tru8t•o8 af• respeSIble lor 888&$8kn9 the dwrlty6 &blllty to contlnue as golng concem. dlsrJo8Sng, 88 appllcable. matters Telated to golng concem and u8lng tho golno o)nc8m b851s of a¢countlng un1888 th& t1$•8 elthor Intend to Ilquldate the charfty or to c888& op8ratk)n$. or havo no ro011$11¢ ott•m8tlv• but to do eo. Audltorf4 r•spon•lbllltlo• lor th• •udlt of th• financlal •tptonwn¢l Our oblectfves are to obtsln reasonable a55ur8n¢e about whother the finAnclal atÉtèmentÈ 89 o wholt #w froe from rnaterf81 misstaternent. whoiher due to fraud or ¢rror. and to 188u8 ¥n audllor's report Ih•t Indudo$ our oplnitsn. R8a80rsable 8SBurance Is a hSgh level ol 888urance, but 18 not a gubrgnlee Ihal an audit o)nducied In accorclanc8 wlth ISA8 IUKI wlll alay8 detect a materlal mS88taterngnt when It ex18t8. M186laternent8 can 8rf8e from Iraud or •rror 8nd ara cnsIdered matertal11, IndSvklu8lly OT In the ag9regate. they could reaBonabSy be expocknj to kffluanca thg aconomlc dlS1On8 of uMr8 tak•n on th• ba818 of the8e ffTrandal 8tat•m•nts. lryegul8rflb¥. In¢ludlng fraud, ¥rg Inst¢nw ol non-¢fjmpllanc• 4th 1gw$ 8nd rogul8tbn$. W• d•slun pro¢r¢S In Ilne wSth our re8ponsibSlltle8. Outllned abovtr. ¢0 det•¢t mat8rt81 ml$$tslornenls In p¢¢t of Irr¢gularilS08, In¢ludlng fraud. Tha extent lo whlch our procodur08 ar• rApabl• oldelecllng Irre9ularftio5, Includlng fraud18 dotallod b•low.' The det¢dlon of Iraud and 1rrogulatl8 1$ a prfmory ¢ongtd8fatlon of th• oudlt plannlng and 19 through to tho audlt rMpleOn stage. A as8e88ment and PTellmlnary analylcal revlgw18 undertaken Bl th? plannlroJ stage and 8r889 of concem are then bullt Into the audil strategy and tBUng to en8ure 3ufficlenl procedufe8 and evldenre I obtained to glvo comfort that matarf ITregularllle$ and po¢enUal InstanceB of Iraud are detected where poBsSble. Th$ #udil tèam Is briefed r8gardlng any areas or ncern. the poton15al audR rlsk6 and con6equentlal Impacl. The udll 1&8rn fwnalngd vlollant throughout thalr and made enqulrfes ol key management and flnance personnel throughoul. St Mary & St Shenoud• capt Orthodox Chureh Traa8ur8r and Ch81rn)an w•ra eonsult•d on any known or suspected breaches In law8 and reguOn8 along with mi8appropriotbn of fund$ 8t b)th th• annIng and cOmeon stages of the audk. Due consljeratlon w8¥ givon to th¢ po88lbl• use of managomtrnt Qvorrido and Ihl¥ wa8 bulll into our audit slrateoy. The purpos• of the preliminary ana1Cl revlew ol the fin8nc4al slatements Is to hlghllght any po8Blble 8rea8 of ¢on¢èrn lo investlgate whether the vorfance Ig expected or unexpectgd, b88ed on the inform8tlon oblalned as p8rt of Ihg plannlnp pr¢<8ss and tho current cllmate the chadty IB operating under. Rèl•vant 8J1t tests had then been planned to obtaln 8UPPQrting documentalon to that they thIn Ihe ch8rIto8 objectives and no rnLsapprowlath)n of fvnd¥ by w8y of fraud. or mi¥statemgnt¥. L8ts$l attounts dIs¢losu d)ed(lists available ar& 8lx) cornpleted to gn¥ur¢ the ac?nIS compty wlh the 198t reporting Iramewor Ihat Is appllcable to the tharfty.
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH INDEPENDENT AUDITORE REPORT (CONTINUED) TO THE TRUSTEES OF ST PAARY & ST SHENOUDA COPTIC ORTHODOX CHURCH There a aspects of the audit whth are deliberalely unble 10 &5SiSt in Ihe detection of lffegufariiles, swh as Vang hryw we test iterrffj whith are susc4ptiblè to fra. year yew and by bwraiir¥J systematie A luthr description of our resFw)nsitrxlthes is awaiL40 c¥) the Finanoal Reting cn'S 7wgbsit¢ at W1.1r¢.1Y9.ujaUditOrsrQspcIlJ0$. T19 deXripti krfms part of£wa'S rF¢rt Use ot our report This re[rt is made sdety to thfr Ifttsle as a LYty. In t•Ah 144 of Cttsgrib•s 2011 aThJ regdalims made undw 154 of thatfvrt Ow has ten urMJerten $0 that we might State to ihe trStee9 those matters we are required to statè to trtee$ in alitOrS. r8p)rt and fty TrJ (Aher purpos9. To the fvIl1 èxtènt parmittod by Iw. dg Tr)t ¥£•pt ry ¥SSLm r¢wsits&ty to any ollw than the rtharfty Sls ROna Wahh FCCA IS•nlor StatutoryAuditor) For and on l)ehalfof MannSngtons chartorA¢¢•tt SIAudItOr 39 Hlgh Street Bathe East Sussex TN33 OEE Date:. ofi103126................. anningtons Charts ACtsnnts is efvJit4& for apFOlntmI as aJitly ol Il* charity by vwbjo Of its ebbabi ilty for appointmnt as Audit of 8 ClpanY urnler Secti 1212 ofthe CthnpaiiesNA 2006.
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH STATEMENT OF FINANCIAL ACTNITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unmtdcted R1cted fund¥ fund• 2024 2024 Total Unr•8trlct•d R•trlet•d fund lund# 2023 2023 Totsi 2024 21)23 Incom• Irom: Oonalion¥ 8nd1og•do Invastm•nt8 12,360 294.724 85.399 623,596 31,252 14.850 638.246 31.252 85.399 Total Incom• 367,783 12.380 380.123 654,848 14.850 669.498 Expondltur• on: Ch8rllabl& 8dvltlo8 182.891 229.736 197.001 37.78e 234,787 Total •yndltur• 182.891 46,845 229.736 197.001 37.768 234,767 N•t 5nCOmlIxP•ndItU1•) 184,872 134,4851 150,387 457,847 123,1161 434.731 Trnnfylern tJ•hv•on funds 114,4S61 14,458 N•t mo¥n•nt In lund 170.418 120,0291 150.387 457.847 123,1161 434.731 R•conclll•tlon of fund•: Fund balAn¢o$ at 1 January 2024 2.794,S13 613.858 3,408,369 2.336,666 836,972 2.973.638 Fund balanc at 31 00mbor 2024 2.964.929 593.827 3.558.758 2.794.513 613.856 3.408.369 Th• 8t8t•m•nl ol finand81 acVItI89 IndthJ88 911 galn8 8nd1088es rec4>gnl8ed In th8 8(. Al Ine4yn8 and •xpandlluro dwlve frorn continuin9 activ1t1.
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2023 Nat09 FSxed assèts Tanglblts assets Investment propety 10 11 t.343,459 813,455 1,344.724 813.455 2.156.914 2.158.179 Curr•nt 45S8ts Oebtors Cash al bank and In hand 12 94.739 1.325,$47 50.143 1,212.214 1.420,286 1262,357 Credltors." amounts f•lllne wllhln onè ar 13 118.4441 (12.1671 N•t cuThenl aBsots 1.401.842 12SO.190 Mèt #s8•ts 3.558,756 3.408,369 The funds olth• chsrlty R8str¢cled income lunds Unwtrictèd knnds 15 593,827 2.964,929 613,858 2.794.513 3,558,756 3,408.369 Th& financial st8t8monts were approved by tha Iwst on OrAGorgy Trustse
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Cash gOnernt from opefati I.387 434.731 D¢pwiglkJn Loss on dlBpcul of fiThJ asfjets 1.489 3.150 151.652 439.370 Worklng C•pltsl adJu•trn•nt• Decreas0llinw80} In d•blty8 IDKwsèl I Increa8a In cr•Jitors 144.S981 6.277 5,813 113.333 453,483 Cuh Flo fram lftvmtlng aclMII Purcha88 of Investment WOPO 1630.(M)S1 Ikt ¢Mh In In¥••Ung •cll¥ltl 1630.0051 N•t In fln•n¢lng •¢d¥ltl•• N•t Incr••MlldKrnu•l In •h •qulval•nt• 113.333 {176.S22) Ca•h and cath oqufvolonts at t4glnnkng of)*ar 1212.214 1.388.736 Ca•h ind c••h •qufv•l•n¢• •t•nd af y••r 1,325.547 1.212,214
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 covnilng pollcl•• The a8Bets and activi0$ of the unSncorporated chadty {regIstraOn nUMr 296601 were transferred to the CIO effective from 18t January 2023. The nam88 ofthe unlncorporat8d ¢h¥rity and Ihe CIO r8rnaln tha M0. In accKJrdanr wlth ¢10n 27 of th• Charflles SORP IFRS 1021 regardlng a chw4J8 In legal lorm. whsfy 8 ¢hgrity'$ work lin¢luding it8 purposes and benefic4ary ¢laBsI rernain unthang•d, th8 rèrA)nslrucUon should t treated as a rnerger Invol¥lThJ trean9 the assets, IlabSlltl&s and lunds 85 tItOUgh they had always been part of the same Ireslructuredl carity. Cornparat flguros fmrn thè unlrtcryrat¢d charfty are 8hown In the account8. ¢h•rlty lrtfomi•tlo St Mary & St Sheruda Copltc Orthodox Chur¢h os an Chgrftsble Incorporated Organl8ation ICIOI raglstergd wSth the Charfty Commi$61on In Engl•nd & Wale¥. Th• reglstered numtor and prfn¢1l addre88 can be found on thè Charfty Inlom)ath)n pag•. 1.1 B•81$ Of pr•parntlon The flnand81 $tat8mgnts have bgen w9pad In occordanco wlth Con8titullon, tho Charftl88 Act 2011. FRS 102 'The Financial Reportlng Stsndard appllcabl8 In tha UK and Republlc ol Ireland. I'FRS 102.1 And tho Charflles SORP 'Accountlng and Raportlng by Ch8rf11?B.' Stslement ol Recornmonded Pr8CtIc8 appllcoble to prgp8rlng thglr accounts In accordjnce vlth the Fln8ndAI Rgp)rtln9 Stand8rd 8pplle8bl In thg UK and Republlc ol Irqlond IFRS 1021. l•ff6ctlv• 1 January 20191. Tho chartty 18 a Publbc Bon8fl1 Entty aa d•fiftèd by FRS 102 Th8 fin8nd•l $tst•monts have departed from the ChorftSes IAc¢ount• •nd R•wrt81 R¢guJolon8 2008 only to tho gxlenl requlred to provlde a true and 18lr vkgw. Th18 d8partur• h88 Involved loll¢ywlng the Ststem8nt ol Recommended Pr8Ctlc• for charfties applylng FRS 102 ralhtr than the verslon of tha Ststgm&nl ol RMm9nd8d Pr8d¢& hYhlch18 rolerred to In the R¢9ulatlon8 bul whlch ha8 81rK8 b8•n wllhdrgwn. Tho nal&l 8tatemonts aro pr•par•d In 8tortlng, whlch 18 tho fun¢t4ono1 currey ol th8 charfty. Mon•l•ry amounr8 In th88• finenclal Btatemen18 aro rouTrJed to tho n•arg$t £. The flnandal 8ts1em8nts have bogn pr•par•d undor th• hl8torfl ¢osl t>)nvtrntlon. Th• ppaI AcrA)Unng polldes adopted ar• out b•k)w. 1.2 Golng concorn At Ihe Ilme of apthng th• financlal 8tat•m8nt8, th• tru8t8u hav• a rg88onabl8 expectatfjon that th• ¢h8rtty ha6 adequate resourc to COnNYO sn operattonol ¥ilBtence lor the foreseeablè luturè. Thu8 tho trust ¢ontlnu& to odopt tho 90ing concom baslB of accounUng In prepadng tha financial gtatsmonts. 1.3 Charltabh lunds Unieslrfded funds are avallable for gt th& dlBcralon of thg ¢tte$ In fvrthernnc• of th811 charltabl oblocfvg8. Rèstrfctgd fvnds ore sublect to Speclfic condltbnB by donors or grantors •8 to tt4)w they may bg used. Tho purpow gnd u808 oftho restrfcted fund8 are Bet out In the nots8 to th& fina91 St•t9. 1.4 Incorn• IrKome h recoJnl88d whan thè eh¥rity L1ggolly gntllod to It after any perfomianc• condilon8 hav• b8•n m. the amount$ ¢8n bo rn•8$urgd roliably. and it is proty¥ble Ihat Incomo VAII be rnchlved. 10-
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ae¢ountlng poll¢h8 IContlnu8d) Cash donations ar• recognised th) racaipt. Oiher donations are re(ognlsed once the chafity has boon notifiad of th¢ dongtion. unless perfomiance CA)nditions requiie deferral of tho amount. Incom& lax recoverable in lation to donation8 received under GiftAKI or doeds of cavenant is re(x)gni$od •t Ihe timo of ts dwtion. Legacle$ grg reccgnisgd on rece6pt or otherwlse11 ts charfty has b8en n01m of an ImFendlw dlstilbutknn, the amount 13 known. aTrJ rgcgipt $xpodad. 11 the affunt is not known. the lagaty is tr•at8d as a cvntingent asset. DonAtsd goods and ass•ts are recognlsed at th8 date of donaOn at the value the Itern ori9Snalty cost donoT1988 any contributts?n or setUem8nt costs. Rsfttal wthma is reeaved in lat)n to investment properDe3 and rewi8ed in Ihe ygar a8 Pgr th& $KJAl 10880 4gr¢ennt for th¢ wiod to vthlch It r8lat8S. 1.5 Expondtture Expenditure Is reco9ni8ed on¢e thert 1$ g legal or CLJnstruCte obllgathjn to transfer economlc benefit to a thtrd party, it Is probable that a transler of e07nomlc benefits wlll bo wulred In eMent. and ihe amount of the obligatlon can be measured rellabty. Exp8nditur• is classified by aclfvlty. The costs of oach a'vIty are mad• up of thè total ol direct eogts and sr9d $ts. induding support cosis invofved th UndertaD9 each activity. Dirert attributablè to a single activity are allocated directly to th8t tiVIty. Shared o)sts which contribute to rnore than one actNity and suppKJrt c£Jsts wh¢ch are not attributable to a siNJte acdvlty are appOrtned bets¥een those aCtivie8 on a ba con515tent with the use of resources. Central staff ctssts are 8lk)c8tad on the basls of Ilme spent. and dopwatvJn ¢harges ar• allocated on the pOn ol Ihg 8889t's u¥e. 1.8 Tanglbl• flxed assets Tangibb fixed 8913 org inthally m8asured at cA)st and SubBequen1 rnga8urod at co OT v8lu8tion, net of deprethUon and any impatrnent t9¥58S. Depreciation i¥ r¢cognistd so as to wrtte off the cost ry valuation of a$8•ts1trss th&ir residual lUeS over thelr useful lives on the lollTYJ baw.. Freehold land and buildings FixbJr¢¥ fittings Is not depreclaied Ibec8u8e it 18 not rned by usel 15% reducAng balan basls The gain or loss arising on Ihe dispo1 of an asset Js determlned as the dlffer8nr b8tsveen th8 5#10 proceods and the Carj value of the asset. and is reognised In the statement ol finanrAal a¢tivitig8. 1.7 hwestmoni property IrNestment pr¢rty. whs¢h Is property hehj to earn r8ntg1$ andlor for capital appredatHJn, Ss reco3nk8ed 81 o)st, whh indudes th• purchase o)sl and any diroctty attrlbulabte expenditure. Impalm)ent ol flx•d ets At each r¥porting end date. the charity ¥w8 the earryiro Amounts of fts tanqlble 88seb to dotèfmina whglher thère is any Indkath)n that ihose assets hav& suffered an Impairment loss. If any 8u¢h indication exists, the rora 81Th)unt of the 8s8et 1$ 9slwn8ted in ord8r to dat8m)ine the extsnt of th? impairngnt IOBS lil any).
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 AOUntIng pollcl85 (Contlnu•d) 1.9 CaBh and ¢ash equlv•lènts Cash and cash equSvalents Sndude cash In hand. dgposit8 I[d at C811 wlth banks, other shOterni Ilquld investments with original maturitles of three month6 OT less. and bank overdrafts. Bank ovgrdraft8 are $h¢yn th btirrtihg$ in currgnt liatrilit¢g5. 1.10 Flnanclal Instrnments The charity has elected lo apply the P$nS of Section 11 'Badc Financkql Insttum¢nts' 8ftd SectvJn 12 'Other Flnandal InstrUnts18jes, of FRS 102 to all of its finan01 inrurnen¢8. nandal instrum&nts ar8 r8eogni8ed in the ¢haritl$ balance she8t the charlty becomès party to t contractual provlstons ol thg InstrumenL FInanal •¥sets and liabilities are offset, with the net amounts pr888nted In the finandal ststemgnts, vkn¢n there is a legalty enforceable right to set oifthe rgcogni8ed amounb and thère Is an intènt•Jn to settle on a n8t ba81¥ or to reali88 th8 a86et arrfl g•tUè thè liabilty $imultsneousty. Bas1¢ Ilnan¢lalassèts Basic financial assets. whlth indudè debtor¥ and cB3h and bank balAncs$. #re initially me&sured 8t Iran8a¢tion prtce including transaction costs and 8r8 8ubsequentty carried at 8rn0rtised cost using the effective intorest method unless th9 8rrangement constitutes a finanr0 transactlon. where th& tmnsactlon is me8¥ur9d at the pre8ent Va of the futurè reIpts di5count¢d at a market rate of Intgrast. Fwncial assets cla&8ified as receN•b vitthln on• ygar8rg not arnortiwl. Bask lIn¢1111abIIAtie5 B8$ic fin8nc4al liabile6. Sncludlng credltors and bank lo?n$ are inltlalty reo)gnis6d ot trans8don prfce unless the 8rr8n9ement ojnslitutes a fmancing transaction. where the debt instrument is measuMd at the pent value of the future p8ymonts discount8d al a mwket rate ol lrtere8t. FInaal 1wbi1¥¥ da88tfied as payable within C year affj not amrtis8d. Debt Instruments ¥re $ub59quenOy carri at amortised cost. using thè thtivo intsro8t rate method. Trade ryeditors are cknligaticffls to pay ts g¢J)ds or 8ervlcEs th* Iwo been aUired kn the ordinary 0)ursè of operabons from suppligys. Amounts p8yablg a dassified as current liabillties il payment is duo within one year less. If no( th8y are pr98ented as non<UTnt Ilabilltle6. Trado creditors ore recAJgnised initially at tr8ftsa¢ti pric¢ and subse¢wenUy measured at amorbs&J u$lng Ihe effeclThie inlerest method. Dwecognltlon of flnanclal Ilabllllhs Flnanclal liabill•S ar¢ d•rocogn1d when thg ¢hwiWs c4Jntrnci(Ml oblTgaliMs •xw or art d1sdwrg or ¢anLled. 1.11 Employee benefils Th• cost of any unused holid?y gntrfement L8 recogni1 In the perh)d In whith thè •rnployee's r¥i$ are r8c8ivèd. Termination benefits are roccgnlsed immedlately as an expense wh8n th? tharity 4 demonstraNy MMitted to tennln8te thg ernoYMent of an ployee or to provlde tem)ination b¥nefft$. 1.12 R•tlr•m•nt b¢ngfft¥ Payments to defined contribulton retIrnant b8n•fil sth•m¥s affj tharged as an exFense as th•y f811 due. 12-
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In of th8 charfty's #c£ounUtYJ pol$. lh8 tru5te85 arè rgquir¢d ts makg jLKlgernents. eBtlmates assumpt18 abl thè alb>t of 8880ts aThJ Il1 thai #re not readity apparent from other SOUf¢o$. Th9 8Stim¥tss ond a&8(Kaat awmWh)ns arg bawj on hIs1Cal exwl8rK and othér lador8 Ihgl affj cons•Jergd lo b8 rdevant. resu118 rw differ from these eslmat6s. e5Mates are recc¢3nknd in in the •Sb'matg is re¥ th lh8 r8vislon aff¢cts only ih#i ods. In¢om• fNxn don•tloM and l•g•cl•• Totsl UM••trkW R•¥tri¢t•d fund 2023 Total fund• fvnd• 2023 2023 Don8tlonB arnl gKIJ Donat I2.) 244.945 215.921 14.69J 230,571 308.902 98.773 49.779 49.779 98.773 282.364 12.3eo 294.724 823.598 14.650 638,246 Unrn•trlci•d Unr••trl¢i•d nd• nds 2024 2023 Rentsl Irthm Int•TrBt rnc•fvab 75.120 10279 15.621 15,631 31.252 13-
ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Éxp•ndltur• ¢)n charltsblo •¢tl¥tth• 2024 2023 Dlrect cost• Staff co8t8 London DIoc88an Fund COntribu0n Bulldlng Prosect Pro1089lon81 F8•9 Costs rèlallng to Ihe runnlng and m8lnt•n8ne• of tho church and Its bu51dlr4J$. Donatlon8 104,807 98.925 19.255 37.766 50.342 5,238 5,8 74.337 25.998 210,833 211.524 8r& ol#upport aftd 90MIne• ¢o•t•1•g• not• 61 Support Governanc 8,441 10,462 6,138 17.105 229.736 234,767 Analy•l• by lund Unr861rfctad fund• R•8trict¥d funds 182,891 46.845 197.001 37,768 229.7 234.787 Supportco•ts Support Gov•manc• o•t• 2024 Support Gov•rnan¢• 2023 D•pr8dglbn Lo88 on d18P91 ol hx¢d a88818 Insurance Mana9gmont and admbn18tr8v8 cwtB L•tt*ng •gent8 1.285 1,489 1.489 3,150 3,953 4.403 4,403 3.953 838 32 838 3,200 721 721 1.464 Audit fe88 Logo18nd profeB8k)nal Bank ¢hary¢8 6.000 3,024 173 6,0 3,024 173 8.600 5.650 216 216 8.441 10,462 18,903 6.138 17.10S 23.243 Analy3ed betrn•n Charltabl• activi¢5 8,441 10,462 18.91)3 6.138 17.105 23.243 14-
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 N•t mo¥wn•nt In fund• 2024 2023 Tha net movement In funds b $t8t8d Aftèr tharg1NJlldltlngl'. Fees payable lty th8 oudlt of thg ¢hadty¥ flnanclgl ¥tatements D¢precWon ol owned tanglble fixed as881s Logs on di$po881 of langible fixed a688ts 8.000 1,285 6.600 1,489 3.1SO Tru•t• None of th• tNgt•O8 lor any per80n8 connoCt•d wllh th8ml f¢¢d¥ed any remuneratlon or benoffts from Ihe charfty dutfjng th• y•ar. Employ0•• Tho averag8 monthty numÈ•rofompkJyoe8 dwlng tho yow w.. 2024 Nurnb•r 2023 Nurnts•r Employm•nt ewts 2024 2023 WageB and 8elarf88 S181 g¢¢urity ¢08ts Oth•r ponslon ¢oit8 97.747 4,718 2.342 92,708 4,024 2,193 104.807 98.925 r8 wern no emph1 anrwjal r•rnun8rntkn wag mor• than £eo.orx). R•mun•rntlon of key man8g•m•nt por•¢nn•l Th• rnmun8Mtion ofkey management pernonnel was ao lollovrt.. 2024 2023 Aggfo9ate comp•nut 84.495 80,157 15-
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Tanglbl• flx•d •M•ts FM•hDld land Flxtuw gnd and bJlldlng6 flttln TfA ost At 1 January 2024 1,336.289 91.643 1.427,932 At 31 D8e8mb8r 2024 1.336289 91.643 1.427.932 D•pr•¢latlon and Imp•lmi•nt At 1 JaTruary 2024 D8prad•tion tharged In the year 83.208 1,265 1.265 At 31 Decemb•r 2024 84.473 84.473 Carrylng amount At 31 Decembw 2024 1,336,289 7,170 1.343.4S9 At 31 DK¢mber 2023 1.336,289 8.436 1,344.724 11 Invutm•nt pvop•rty 2024 Co•t At 1 January 2024 and 31 Decembar 2024 813.455 12 D•l>torn 2024 2023 Amouni8 l•lllng dug wlthln on• y••r. Othar d¥btor8 Pr•wm•nls and 0¢¢ru Income 91,581 3.158 43.802 6,341 94,739 50.143 13 Cr•dllorn: ornounts lalllng w5thln om y••r 2024 2023 Acw81$ and dthrred Intxrne 18.444 12,167 16-
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2023 2.342 2.193 The reslittesj frJnds of the chawity comprisè th8 unexFended ba4$ rrf donalTh grants on trust subj8Ct to speafic by a¥ to they may be used. At 1 January Inmmlno R•sourees Tran8fer¥ 2024 At31 2024 JildirvJ FuThJ 813.856 12. (46.8451 14.456 593.827 Pmilous y••r. At31 Decemb•r 2023 2023 Building FuThJ .972 14. (37.7661 613,8S6 16 Unr¢strletad fund• The Un1n¢ed frjnds of Ihe comfv the Lywnded balarlces ofdoThalons and grants whith arè not subject to coThlitions by 11C¥ arNJ grantcws as to haw thèy may ba ed. These Ind18 At 1 January Inc¢)mlng Roswrw 2024 At31 Ganèral funds 2.791.513 367.763 (182.8911 114.4561 2,964.929 At 1 Janwy Irtonla Ruourc•# Tran8fer¥ At31 2023 G*)eral funds 2.336.666 654.848 {197.1]011 2.794.513 17-
ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR EhlDED 31 DECEMBER 2024 17 AMly•l¥ of not ••Mts bg¢w••n fund• fund8 2024 fvnd• 24 2024 At 31 D•wnbor 2024: Tangl assets Inv8slrnont wope Curyenl 868etsllli8biNtlesl 749.832 813.455 1.401.842 $93m7 1.343.459 813.455 1.401.842 2.984.929 593.827 3.558.756 T¢Jt•l fvnds 2023 2023 At 31 D•c•mb•r 2Q23: T8ryiWe 8580ts Investment kYopgrlkn¥ Current ¥8e¢t81111obllI 7W.897 813.45S 1,230.181 593.827 1,344,724 813,455 1,260,190 2.794.S13 613.8S6 3,408.389 18 R•l•t•d p•rty trIn••¢n$ Tran•aGll¢rn wl¢h r•l•t•d *•$ DonaCTh from Trustees 12023- ts9.21. Al the bala¥ shoot dats tr• wount tkn tfyTrNn 01 frThn Tnxte89 was £NII {W23.£NI). 18-