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 Ma￿1 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 p￿11￿ SIatsn￿nt 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 a￿1 "Accounting and Rewjrbng by charits￿.. St*n￿nI 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¥e￿I by ItsTntst Deed. The obiads dthè d￿rIty.a5 set out in ts wwwniThJ dopjment are to the r￿1g￿ Copth OrtIKxkn CPxuch in of ETrJlaTrJ. The trustees note that tho Chutch is r￿t 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 ts￿h1 and car￿j 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 c￿tic Church: its tru￿￿$, efders aThJ m￿borS 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￿ isTA*d by ts Chwlty Commtsgtyb what at*vlbes tho AchI￿rnents and perforniar* To further thg above Obj￿ and vis#)n. the tharitys main alar￿￿eS 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 expeThYitU￿I 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% Or￿d￿j 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 Ilapp￿ts th• c4)mFThltee charivs cu5tc4kn In￿le• 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 a￿1. 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(x0rd￿rA 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 app11￿ble 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: • seleont •¥J apmi* kn WV4*1• a bath ow ophiw. Con¢lu•lon• rel•tlng to golng eonc•m In audltkng thg finanuol elat0n￿nIs. we ￿ c4XKI￿￿ed th•t th• trul1•￿ ol Ihp gclng (Xxum bosb ol a(￿untIr￿ In th? prwralkn olthe slat•M￿ts IJ apprwiats. Based on the W￿rk wa h8v• Kwltynwj. wa hm rKI Id¢ntified any materfal UrK*rt8#￿oI relaiing lo even18 or ¢ondltton$ that, hKIl￿oU¥llY may c8St slanfficont do￿ cm Ihg #tllty lo Con￿nUe 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¥r￿n. 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, rOw￿bIlty 15 to read the oth8f ln1crfmalic￿ aThJ. In dolng so. ccffisider vthgtl*r tr* olhgr Irformati￿ l¥ mgtsrialty in¢xJnslstenl wlth fin8Th281 statsmonts or knowl•dg• obtained in the audrt or oth￿1$¢ appews to be ffl8terd￿ miss￿1+￿. 11 we #Jgntify Such malerfal incongst•ntho5 ty oppar8nt maitri•l mis8tst9rn￿ts, we reQ￿red to det6min• whèthgr there is a malertal mi8stat•m8nt in th• firwKial stater￿nl8 or a materfal miS81at8n￿ ol th• other intDrrnation. 11, basod on the work report that facl. W? havo rthing tr) rewt In thkg regwd. ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST MARY & ST SHENOUDA COPTIC ORTHOI)OX CHURCH Matters on whl¢h w• are requlred to report by •xrAPtlon In the light of our knowledgg and urtd8rstanding of the charfty and Its onvironment obtalned In the CAJurso of tho udll, wg have not Klendfled Materi￿ rn138tstements th lh$ TnKgt8e3 RgFQrt. Wè h8VO nolhing to rewrt in wspo¢t ol tho f¢lltywing mattarg vth¢ro Iho Chartties Acl 2011 requ*es us to rnport to you il. In our oplnion.. 8dequat8 accounténg records have not b88n kapt. or rolum$ ad0qua￿ lor our O￿lIt have not been received from br8nches not vblted by us: G th• ffingnclal 9tat8ments ar8 not In agreemgnt %¥lth th8 acr￿untIng rgoyd$ and r•tum8: or c8rtaln dlBdoour08 oflnmtee renwJner8U¢)n epac￿ed by law are r￿t 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 In￿1&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• respe￿SIble lor 888&$8kn9 the dwrlty6 &blllty to contlnue as golng concem. dlsrJo8Sng, 88 appllcable. matters Telated to golng concem and u8lng tho golno o)nc8m b851s of a¢countlng un1888 th& t￿￿1$•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 a￿lay8 detect a materlal mS88taterngnt when It ex18t8. M186laternent8 can 8rf8e from Iraud or •rror 8nd ara c￿nsIdered matertal11, IndSvklu8lly OT In the ag9regate. they could reaBonabSy be expocknj to kffluanca thg aconomlc d￿lS1On8 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 1rrogula￿tl*8 1$ a prfmory ¢ongtd8fatlon of th• oudlt plannlng and 19 through to tho audlt r￿Mple￿On stage. A as8e88ment and PTellmlnary analylcal revlgw18 undertaken Bl th? plannlroJ stage and 8r889 of concem are then bullt Into the audil strategy and t*BUng 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 regu￿￿On8 along with mi8appropriotbn of fund$ 8t b)th th• ￿annIng and cOm￿e￿on 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 ana1￿C￿l 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 8￿J1t tests had then been planned to obtaln 8UPPQrting documentalon to that they ￿thIn Ihe ch8rIto￿8 objectives and no rnLsapprowlath)n of fvnd¥ by w8y of fraud. or mi¥statemgnt¥. L8ts$l attounts dIs¢losu￿ d)ed(lists available ar& 8lx) cornpleted to gn¥ur¢ the ac?￿nIS compty wlh the 1*98t reporting Iramewor* Ihat Is appllcable to the tharfty. ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH INDEPENDENT AUDITORE REPORT (CONTINUED) TO THE TRUSTEES OF ST PAARY & ST SHENOUDA COPTIC ORTHODOX CHURCH There a￿ aspects of the audit whth are deliberalely un￿￿ble 10 &5SiSt in Ihe detection of lffegufariiles, swh as Va￿ng hryw we test iterrffj whith are susc4ptiblè to fra￿. year ￿ yew and by bwraiir¥J systematie A luthr description of our resFw)nsitrxlthes is awaiL*40 c¥) the Finanoal Re￿ting c￿n￿'S 7wgbsit¢ at W1￿.1r¢.1Y9.u￿jaUditOrsrQspc￿*I￿lJ0$. T1￿9 deXripti￿ krfms part of£wa￿'S r*F¢rt Use ot our report This re[￿rt is made sdety to thfr Ifttsle￿ as a LY*ty. In t•Ah 144 of ￿ Cttsgrib•s 2011 aThJ regdalims made undw 154 of thatfvrt Ow has t*en urMJert*en $0 that we might State to ihe tr￿Stee9 those matters we are required to statè to tr￿tee$ in ￿ a￿litOrS. r8p)rt and fty TrJ (Aher purpos9. To the fvIl￿1 èxtènt parmittod by Iw. dg Tr)t ¥£•pt ry ¥SSLm r¢wsits&ty to any￿ ollw than the rtharfty Sls RO￿na Wahh FCCA IS•nlor StatutoryAuditor) For and on l)ehalfof MannSngtons chartor￿A¢¢￿•tt￿ SI￿AudItOr 39 Hlgh Street Bathe East Sussex TN33 OEE Date:. ofi103126................. anningtons Charts￿￿ ACts￿n￿nts is efvJit4& for apFOlntm￿I as a￿Jitly ol Il* charity by vwbjo Of its ebbabi ilty for appointmnt as Audit￿ of 8 Cl￿panY 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 R￿1￿cted 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 5nCOm￿lIxP•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 00￿mbor 2024 2.964.929 593.827 3.558.758 2.794.513 613.856 3.408.369 Th• 8t8t•m•nl ol finand81 ac￿VItI89 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,$47 50.143 1,212.214 1.420,286 1262,357 Credltors." amounts f•lllne wllhln onè ￿ar 13 118.4441 (12.1671 N•t cuThenl aBsots 1.401.842 12SO.190 Mèt #s8•ts 3.558,756 3.408,369 The funds olth• chsrlty R8str¢cled income lunds Unwtrictèd knnds 15 593,827 2.964,929 613,858 2.794.513 3,558,756 3,408.369 Th& financial st8t8monts were approved by tha Iwst￿ on OrAGorgy Trustse ST MARY & ST SHENOUDA COPTIC ORTHODOX CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Cash gOnernt￿ from opefati I￿.387 434.731 D¢pwiglkJn Loss on dlBpcul of fiThJ asfjets 1.489 3.150 151.652 439.370 Worklng C•pltsl adJu•trn•nt• Decreas0llinw80} In d•blty8 IDKwsèl I Increa8a In cr•Jitors 144.S981 6.277 5,813 113.333 453,483 Cuh Flo￿ fram lftvmtlng aclMII Purcha88 of Investment WOPO 1630.(M)S1 Ikt ¢Mh In In¥••Ung •cll¥ltl 1630.0051 N•t In fln•n¢lng •¢d¥ltl•• N•t Incr••MlldKrnu•l In ￿•h •qulval•nt• 113.333 {176.S22) Ca•h and cath oqufvolonts at t4glnnkng of)*ar 1212.214 1.388.736 Ca•h ind c••h •qufv•l•n¢• •t•nd af y••r 1,325.547 1.212,214 ST MARY & ST SHENOUDACOPTIC ORTHODOX CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 covnilng pollcl•• The a8Bets and activi￿0$ of the unSncorporated chadty {regIstra￿On nUM￿r 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 trea￿n9 the assets, IlabSlltl&s and lunds 85 tItOUgh they had always been part of the same Ireslructuredl c*arity. Cornparat￿ flguros fmrn thè unlrtcryrat¢d charfty are 8hown In the account8. ¢h•rlty lrtfomi•tlo St Mary & St Sher￿uda Copltc Orthodox Chur¢h os an Chgrftsble Incorporated Organl8ation ICIOI raglstergd wSth the Charfty Commi$61on In Engl•nd & Wale¥. Th• reglstered numtor and prfn¢1￿l addre88 can be found on thè Charfty Inlom)ath)n pag•. 1.1 B•81$ Of pr•parntlon The flnand81 $tat8mgnts have bgen w9pa￿d 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 $tst•monts have departed from the ChorftSes IAc¢ount• •nd R•wrt81 R¢guJolon8 2008 only to tho gxlenl requlred to provlde a true and 18lr vkgw. Th18 d8partur• h88 Involved loll¢ywlng the Ststem8nt ol Recommended Pr8Ctlc• for charfties applylng FRS 102 ralhtr than the verslon of tha Ststgm&nl ol R￿￿Mm9nd8d Pr8d¢& hYhlch18 rolerred to In the R¢9ulatlon8 bul whlch ha8 81rK8 b8•n wllhdrgwn. Tho ￿na￿l&l 8tatemonts aro pr•par•d In 8tortlng, whlch 18 tho fun¢t4ono1 currey ol th8 charfty. Mon•l•ry amounr8 In th88• finenclal Btatemen18 aro rouTrJed to tho n•arg$t £. The flnandal 8ts1em8nts have bogn pr•par•d undor th• hl8torf￿l ¢osl t>)nvtrntlon. Th• p￿￿paI AcrA)Un￿ng 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 COn￿NYO 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& fina￿￿91 St•t￿9￿￿. 1.4 Incorn• IrKome h recoJnl88d whan thè eh¥rity L*1ggolly 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 aff￿unt is not known. the lagaty is tr•at8d as a cvntingent asset. DonAtsd goods and ass•ts are recognlsed at th8 date of dona￿On 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& $KJA￿l 10880 4gr¢en*nt for th¢ wiod to vthlch It r8lat8S. 1.5 Expondtture Expenditure Is reco9ni8ed on¢e thert 1$ g legal or CLJnstruCt￿e 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 s￿r9d ￿$ts. induding support cosis invofved th Underta￿D9 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 appOrt￿ned bets¥een those aCtivi￿e8 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 p￿On 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$8•ts1trss th&ir residual ￿lUeS over thelr useful lives on the loll￿TYJ baw.. Freehold land and buildings FixbJr¢¥ fittings Is not depreclaied Ibec8u8e it 18 not ￿￿rned by usel 15% reducAng balan￿ basls The gain or loss arising on Ihe dispo￿1 of an asset Js determlned as the dlffer8nr* b8tsveen th8 5#10 proceods and the Car￿￿j value of the asset. and is reognised In the statement ol finanrAal a¢tivitig8. 1.7 hwestmoni property IrNestment pr¢￿rty. whs¢h Is property hehj to earn r8ntg1$ andlor for capital appredatHJn, Ss reco3nk8ed 81 o)st, wh*h 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 ro￿ra￿￿ 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 A￿OUntIng 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 shO￿terni Ilquld investments with original maturitles of three month6 OT less. and bank overdrafts. Bank ovgrdraft8 are $h¢y*n th￿ btirrtih￿g$ in currgnt liatrilit¢g5. 1.10 Flnanclal Instrnments The charity has elected lo apply the P￿￿$￿nS of Section 11 'Badc Financkql Insttum¢nts' 8ftd SectvJn 12 'Other Flnandal InstrU￿nts18￿jes, of FRS 102 to all of its finan￿01 in*rurnen¢8. nandal instrum&nts ar8 r8eogni8ed in the ¢haritl$ balance she8t the charlty becomès party to t contractual provlstons ol thg InstrumenL FInan￿al •¥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 finan￿r0 transactlon. where th& tmnsactlon is me8¥ur9d at the pre8ent Va￿ of the futurè re￿Ipts di5count¢d at a market rate of Intgrast. Fwncial assets cla&8ified as receN•b￿ vitthln on• ygar8rg not arnortiwl. Bask lIn￿¢1￿111abIIAtie5 B8$ic fin8nc4al liabil￿e6. Sncludlng credltors and bank lo?n$ are inltlalty reo)gnis6d ot trans8don prfce unless the 8rr8n9ement ojnslitutes a fmancing transaction. where the debt instrument is measuMd at the p￿ent value of the future p8ymonts discount8d al a mwket rate ol lrtere8t. FIna￿al 1wbi1￿¥¥ da88tfied as payable within C￿ year affj not amrtis8d. Debt Instruments ¥re $ub59quenOy carri￿ at amortised cost. using thè thtivo intsro8t rate method. Trade ryeditors are cknligaticffls to pay ts g¢J)ds or 8ervlcEs th* Iwo been a￿Uired kn the ordinary 0)ursè of operabons from suppligys. Amounts p8yablg a￿ dassified as current liabillties il payment is duo within one year ￿ less. If no( th8y are pr98ented as non￿￿t of 8880ts aThJ I￿l￿1￿ thai #re not readity apparent from other SOUf¢o$. Th9 8Stim¥tss ond a&8(Kaat￿ awmWh)ns arg bawj on hIs￿1Cal exwl8rK* and othér lador8 Ihgl affj cons•Jergd lo b8 rdevant. resu118 rw differ from these eslmat6s. e5￿Mates 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 COntribu￿0n 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 8￿r& ol#upport aftd 90￿MIne• ¢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 d18P￿91 ol hx¢d a88818 Insurance Mana9gmont and admbn18tr8￿v8 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 $t8t8d Aftèr tharg1NJll￿dltlngl'. Fees payable lty th8 oudlt of thg ¢hadty¥ flnanclgl ¥tatements D¢precWon ol owned tanglble fixed as881s Logs on di$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 S￿181 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 emph￿1 ￿ 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 ba*4$ rrf donal*Th 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 Un￿1n¢￿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 Ind￿18 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 Irton￿l￿a 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 $93m7 1.343.459 813.455 1.401.842 2.984.929 593.827 3.558.756 T¢Jt•l fvnds 2023 2023 At 31 D•c•mb•r 2Q23: T8ryiWe 8580ts Investment kYopgrlkn¥ Current ¥8e¢t81111obll￿￿I 7W.897 813.45S 1,230.181 593.827 1,344,724 813,455 1,260,190 2.794.S13 613.8S6 3,408.389 18 R•l•t•d p•rty trIn••¢￿n$ Tran•aGll¢rn wl¢h r•l•t•d ￿￿*•$ Dona￿CTh from Trustees 12023- ts9.2￿1. Al the bala￿¥ shoot dats tr• wount tkn tfyTrNn 01￿ frThn Tnxte89 was £NII {W23.£NI). 18-