OpenCharities

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

2024-08-31-accounts

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

PARISH OF ST NICHOLAS THE WONDERWORKER

Registered CIO No.: 1194371 Registered Company No: CE025414

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

CONTENTS

Page Annual Report of the Trustees 3-8 Independent Examiner's Report Statement of Financial Activities 10 Balance Sheet 11 Notes to the Financial Statements 12-17

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees of the Orthodox Parish of St Nicholas, Oxford ("the Charity" or "the Church") present their report and financial statements for the year ended 31 August 2024. These have been prepared in accordance with the accounting policies set out in Note 1 and comply with the Charity's constitution and applicable law. The comparatives are for the year ended 31 August 2023.

These accounts have been produced in relation to the CIO established on 7 May 2021 (charity registration number 1194371). On 15 August 2021, the members of the charitable trust resolved that its assets should be held for the CIO as from 1 September 2021. However, the formal transfer of assets, which was commenced at that time, was suspended pending a decision to change the name of the CIO, the better to reflect its multinational character.

This resolution was finally taken, subject to the approval of the Charity Commission on 21 May 2023 and was approved by the Charity Commission on 23 November 2023. These transfers are well underway, and it is expected that they will be completed during the course of this calendar year. Accordingly, the accounts have been prepared for both registered charities, those for the trust for the year ended 31 August 2024 showing a blank balance sheet to reflect the fact that all assets are held for the CIO.

1. REFERENCE AND ADMINISTRATIVE DETAILS

UK Charity Registration Number: 1194371 UK Registered Company Number CE025414 Registered Office: St Nicholas Church 34 Ferry Road, Oxford OX3 OEU Email address: fr.stephen.platt@gmail.com Chairperson: Nicholas Graham Current Trustees: The Very Revd Archpriest Stephen Platt (rector) Revd Deacon Alexey Kostyanovsky (ex-officio) Nicholas Graham (Chairperson) Marianna Colyer (church warden; ex-officio) Simon Jennings (Treasurer) Frances Jennings (Parish Treasurer; ex-officio) Lauren Morry (co-opted 10 June 2024) Tatiana Nosova Anna Platt Maeve Henry Eric Jansson Ella Shatova Johnny Cowee Sanja Scepanovic Maria Petrunova Bankers: Lloyds Bank PLC, 399 Oxford Street, London W1C 2BU Santander UK PLC, 301 St Vincent Street, Glasgow G2 5NB COIF Charity Funds, 85 Queen Victoria Street, London EC4V 4ET Investment Manager: M&G Charifund Independent Examiner: Mr Peter J Stevenson, Flat 25, Cherwell Court, Banbury Road, Kidlington, OX5 2BG Tax Reference: HMRC Charities reference ZD18931

3

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

2. STRUCTURE, GOVERNANCE AND MANAGEMENT

The CIO was established to take over the assets of a charitable trust (1118783), the members of which resolved in an Annual General Meeting on 15 August 2021 to transfer all assets to this Charity, which has been incorporated as a Charitable Incorporated Organization registered under the number 1194371. Partly in consequence of a decision to change the name of the CIO, it has taken longer than anticipated to complete the transfer of all assets, and the trustees of the old charity continue to hold some assets on trust for the CIO. It is anticipated that all funds and properties will have been transferred into the name of the CIO by the end of the current calendar year.

The governing document of the CIO is the Constitution dated 7 May 2021, as amended.

The Rector is ecclesiastically responsible to the ruling Bishop of the Diocese of Sourozh, of which the Parish of St Nicholas the Wonderworker is a part. The ruling Bishop is His Grace Bishop Matthew of Sourozh. The ruling Bishop has power to appoint the Rector. Under the constitution, the Rector is a trustee of the Charity.

A distinction is made between the ecclesiastical and charitable aspects of parish life to ensure that ecclesial matters concerning the Parish comply with the requirements of the Diocese of Sourozh, while financial governance accords with English Charity Law.

The Parish is run according to the Diocesan statutes. The Parish Council consists of only the Rector, Parish Treasurer and Church Warden all of whom are appointed with the agreement of the ruling Bishop

The Parish Council positions are held by the following:

Rector & Chair: The Very Revd Archpriest Stephen Platt Parish Deacon: Deacon Alexey Kostyanovsky Church Warden: Marianna Colyer Treasurer: Frances Jennings

The Council of Trustees is responsible for the Charity, which exists to further the work and activities of the Parish. The Council of Trustees is made up of the 4 members of the Parish Council, who are ex-officio members, as well as a Secretary, Chair, Treasurer, and a minimum of 4 other members, who are elected at the AGM of the Charity, and who serve for three years (being eligible for re-election thereafter).

Day to day decisions regarding the pastoral and worshipping life of the Parish (such as the schedule of church services, baptisms, marriages, and funerals) are the responsibility of the Rector. The Council of Trustees meets at least three times a year to discuss official business, hear a report from the Rector on the activities of the Parish and relevant pastoral events or issues, and from the Treasurers on the financial position.

Trustees' Responsibilities

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing those financial statements, the Trustees are required to:

4

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Statement of Recommended Practice (Accounting by Charities) 2005, the Charity (Accounts and Reports) Regulations 2008 and the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with our responsibilities as Trustees of the Charity· under English Law, we certify that to the best of our knowledge and belief:

The Trustees have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.

Induction and Training

The Trustees are kept informed of their duties and obligations under the law by the Secretary, the Treasurers and the Rector, and regularly consider their policies in the light of guidance published by the Charity Commission. New trustees are elected at the AGM of the Charity or are co-opted by the Council in the course of the year. They are made aware of their responsibilities and obligations in informal training given by the Treasurers.

Internal Controls

The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of internal controls. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements follow best practice. They are also responsible for the Charity safeguarding its assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees have policies covering substantial donations, bribery, data protection and safeguarding, as well as a reserve policy. The system of internal controls is designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

3. OBJECTIVES AND ACTIVITIES

The Orthodox Parish of St Nicholas, Oxford, is part of the Diocese of Sourozh. Its main objects are to advance the Orthodox Christian faith for the benefit of the public in accordance with teachings of the One, Holy, Catholic and Apostolic Church, rooted in the holy tradition, and taught by the Holy Scriptures, the Seven Ecumenical Councils and the local and provincial councils of the Orthodox Church.

Membership of the Parish, as opposed to the formal membership of the CIO, is contingent upon being 18 years of age, having received the Sacrament of Communion in the Parish within the previous year, and having a permanent address in the UK. Membership of the CIO is open to those members of the Parish who additionally undertake each year to pay the sum of £10 in the event of a winding-up of the CIO within the forthcoming year.

The Parish has regular religious services on Saturday evenings, Sunday mornings, and Wednesday evenings, as well as on a number of Feast days. Services are open to all members of the public. These services are celebrated in a mixture of English, Church Slavonic with some Greek and Romanian.

Live streaming of services on Facebook and Mixlr has proved to be of inestimable benefit to those prevented from attending services in person because of age, infirmity, caring responsibilities or distance. It reaches Orthodox Christians in many countries.

St Nicholas’ House at 37 Ferry Road continues to be an invaluable resource for meetings, Sunday School and Youth Groups and to house visitors to the Parish. The Parish House at 2 Bowness Avenue is used extensively for pastoral entertaining, for youth groups and informal Parish meetings.

5

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Normally on Sundays during the school year, the children assemble after the morning service for a short Sunday School meeting. The Parish also regularly hosts meetings of an Orthodox youth group and supports the Oxford Orthodox Student Society. It also supports other initiatives of Orthodox Churches and Institutions in the United Kingdom and abroad.

The work of the Parish is entirely self-financed. The Charity receives no financial help from the Diocese, any government or any other external source. Therefore, we rely entirely on the support of parishioners and friends to enable the Parish to carry out its mission. Collections are taken at Sunday celebrations of the Divine Liturgy, as well as at the candle desk, and donations can be made online and via a Donate Station.

Further information about the on-going activities of the Parish is available on the Parish website at www.stnicholas-oxford.org. There is a Parish Facebook page (St Nicholas Orthodox Church, Oxford).

Statement of Public Benefit

The Trustees are aware of the Charity Commission guidance on Public Benefit and confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to it. They consider that the Parish’s aims, activities and achievements demonstrate the benefit to the Public that arises from those activities, as summarized in this Annual Report.

4. ACHIEVEMENTS AND PERFORMANCE

The work carried out to expand the Church continues to make a significant difference to the capacity of the Church and to its beauty and harmony, despite the relatively limited extra space constructed.

Funds raised come from collections and standing orders, ad hoc private donations, and from the Parish bookstall. The Parish collects money for the poor especially in the major fasts. These funds are distributed as to one half to the Gatehouse Oxford for the relief of local homelessness and as to the other half to the Friends of the Holy Land to provide relief to Christians in the Holy Land.

The Trustees continue to maintain their investment in M&G Equities Investment Fund for Charities (Charifund), Income Units. At 31 August 2023 the value stood at £46,860 but had increased to £51,908 by 31 August 2024. Having reviewed this, the Trustees have decided not to invest further funds with M&G and to consider other investment options.

The war in Ukraine has had a considerable impact upon the Charity and upon parish life since February 2022. The Parish raised funds for the relief of Ukrainian refugees and made substantial donations to the humanitarian work of the Polish and Ukrainian Orthodox Churches. It continues to provide considerable support to Ukrainian families in the Church community including practical help, targeted English lessons, and advice. Various Parishioners have sponsored and/or supported Ukrainian refugee families. The Parish continues to make its Kidlington property available for this purpose.

The Parish continues to grow in numbers. A steady influx of individuals has resulted in a growing number being received into the Orthodox Church by baptism and/or chrismation.

Father Stephen led a group of parishioners and friends on a pilgrimage to the holy places in Wales in February 2024. The pilgrimage proved popular and was of great pastoral and spiritual benefit.

5. FINANCIAL REVIEW

All funds (save for funds collected for the poor) are unrestricted, and while in the past a distinction was made between funds for general purposes and for the building fund, this distinction has been abandoned and all funds consolidated. As all of the properties are directly used for the purposes of the charity rather than as investments, this consolidation has continued.

6

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Income

The total charity income for the year ended 31 August 2024 was £150,298 (2023 - £572,445). The figure for the year to 31 August 2023 was increased exceptionally by a legacy from Marina Fennell, a substantial private donation and the pilgrimage to the Holy Land.

Gift Aid claimable for the year ended 31 August 2024 is estimated to be £12,814 (2023 - £67,345),

Expenditure

Charity expenditure for the year totalled £89,207 all out of unrestricted funds (2023 - £186,931).

Reserves Policy

Total reserves as of 31 August 2024 stood at £2,758,479 (2023 - £2,692,340) of which £2,128,289 is represented by real property, and the balance in more liquid resources.

Future Plans

As the Parish grows in numbers, and the church has been extended as far as possible on its present site, the Trustees are considering how best to accommodate the ever-increasing congregation. All options, including the acquisition of a larger church, are being investigated, and funds are being accumulated in the expectation that it will be necessary to acquire additional space in the near future.

Risk Management

A risk assessment has been undertaken by means of:

This continuing process will identify risk areas to which the Charity is vulnerable and highlight any necessary safeguards that will need to be put in place.

The Trustees are aware that the principal financial risks concern the management and banking of cash donations, and there are procedures in place to mitigate these. Donations by way of standing order, PayPal or electronic transfer rather than cash are encouraged. The Trustees have installed an electronic donation tablet to allow ad hoc donations to be made other than by cash or cheque. Due diligence is carried out on large donations. The Trustees are aware of the size of the cash balances during the year. These funds are being conserved to provide the necessary funds to finance the acquisition of larger premises for worship and social functions. The Trustees are aware of the limits under the Financial Compensation Scheme and are seeking to find suitable investments and other banks to diversify our holding of funds. The Trustees maintain full insurance which is reviewed annually. They are also aware of pastoral and safeguarding concerns and have strict policies about safeguarding and GDPR requirements, which are regularly reviewed. The Trustees are also in the process of undertaking a Health & Safety Review.

7

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The war in Ukraine has caused difficulties for the Charity. The parish has remained united, but the Trustees are aware that perceived reputational issues have had repercussions, most notably in the need to demonstrate the propriety of our dealings to financial institutions. The trustees take their duties seriously and the Charity makes every effort to satisfy enquiries and perform adequate due diligence on all receipts and payments. It has also made clear that it makes no payments to any other institution, nor does it receive funding from any sources other than individual parishioners, supporters and well-wishers.

Approved by the Trustees on and signed on their behalf by:

Archpriest Stephen Platt Nicholas Graham

22 June 2025

………………………………………………….

………………………………………….. Date

8

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024

I report on the financial statements (or accounts) of the Russian Orthodox Parish of St Nicholas the Wonderworker (the Charity) for the year ended 31 August 2024, which comprise the Statement of Financial Activities, Balance Sheet, and the related notes.

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.

I confirm that I am qualified to undertake the examination.

It is my responsibility to:

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 other matter except that referred to in the previous paragraph has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

to keep accounting records in accordance with section 130 of the 2011 Act; 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

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Peter Stevenson

Peter Stevenson 26 June 2025 ………………………………………………………… ………………………………………… Peter J Stevenson Date Flat 25, Cherwell Court Banbury Road Kidlington OX5 2BG

9

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted Funds
Income and endowments from:
Notes
Voluntaryincome
7
Income from charitable trading activities
10
Investment income
11
Insurance Claim
Total income and endowments
Expenditureon:
Charitable activities
12
Total expenditure
Net income after expenses
Appreciation /(Depreciation) of M&G Charifund Investment
3
Reconciliation of funds:
Total funds brought forward
on 1 September 2023
Total unrestrictedfund carried forward
at 31 August 2024		 2024
Total
£
2023
Total
£
122,408
477,738
23,461
88,542
4,429
3,085
0
3,080
£150,298
£572,445
89,207
186,931
£89,207
£186,931
61,091
385,514
5,048
(2,556)
£66,139
£382,958
2,692,340
2,309,382
£2,758,479
£2,692,340

The notes on pages 12 to 17 form part of these financial statements

10

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2024

Note
Fixed assets
Freehold property - at estimated market value
2
M&G Charifund
3
Current assets
Debtors
4
Cash at bank
5
Total current assets
Creditors-amounts falling due within one year
6
Net current assets
Total net assets
Charity Funds:
General Fund - unrestricted
Total Unrestricted Funds		 2024
2023
£
£
2,128,289
2,106,814
51,908
46,860
£2,180,197
£2,153,674
94,203
97,730
489,379
446,286
£583,582
£544,016
(5,300)
(5,350)
578,282
538,666
£2,758,479
£2,692,340
2,758,479
2,692,340
£2,758,479
£2,692,340

Approved by the Trustees on and signed on their behalf by:

Nicholas Graham Archpriest Stephen Platt ………………………………………….. ………………………………………….. 22 June 2025 Date …………………………………….

The notes on pages 12 to 17 form part of these financial statements

11

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Basis of accounting

These financial statements have been prepared on a going concern basis under the historical cost convention, modified to include the revaluation of investments. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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) issued on 16 July 2014, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The principal accounting policies adopted are as follows:

Fixed Asset Investments

The Church and the Parish House at 2 Bowness Avenue are reported at the valuation given by Hextall Twiddy in 2018, plus, in the case of the Church building, the fees incurred in respect of the enlargement have been capitalised. St. Nicholas House is reported at its purchase cost. The house at Kidlington is reported at the informal valuation given by Hextall Twiddy on 23 November 2021 of £350,000, plus enhancement expenditure. The Trustees consider these to be a reasonable reflection of the current market values. Maintenance costs are expensed unless they add materially to the value.

Stock

No account has been taken of the stock of books held for sale in the bookstore as these have been entirely donated.

Status of Funds

The General Fund has unrestricted funds available for application in furtherance of the general objectives of the Charity and the Parish. It includes the properties as they are all used for the general purposes of the charity.

Income

All incoming resources, notably voluntary income, Gift Aid relating thereto, and income from fundraising activities, are accounted for on a receivable basis which is when the Charity became entitled to the resource.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.

Charitable activities

Charitable expenditure comprises the maintenance of the Church, Parish House, St. Nicholas House, and 17 The Rookery, the discharge of expenses incurred by the Rector in performance of pastoral responsibilities and provision for expenses connected with the Liturgical life of the Parish, together with small donations to other charities and assistance to individuals supported by the Parish in the course of the year.

Taxation

The Charity is not subject to any taxes on its charitable activities. Irrecoverable VAT is charged against the category of resources expended for which it was derived. The Charity is able to reclaim any eligible UK income tax credits from investment income. Any trading (such as the bookstore) is incidental or in pursuance of the Charity’s objects and is in any event not conducted on a commercial basis.

Gift Aid

The Charity is able to claim Gift Aid on qualifying donations from individual donors and provision is made on donations received during an accounting period.

12

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

ACCOUNTING POLICIES (continued)

Going Concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the level of income and expenditure 12 months from the date on which the financial statements were approved. The Trustees are confident that the anticipated future income will be sufficient to cover all annual expenditure as well as the costs of enlarging the Church building, referred to in Note 2 below, and the Charity will be able to continue as a going concern.

Page
2. FREEHOLD PROPERTY
(at estimated values)
Church Building,
34 Ferry Road, Oxford OX3 0EU
Parish House
2 Bowness Avenue, Oxford OX3 0AJ
St. Nicholas House,
37 Ferry Road, Oxford OX3 0EU
17, The Rookery, Kidlington, OX5
1AW
11		 2024
661,579
596,475
442,411
427,824
£2,128,289		 2023
661,579
575,000
442,411
427,824
£2,106,814

A valuation report from Hextall Twiddy Limited was obtained in support of these values of the Church building, 2 Bowness Avenue and St. Nicholas House in April 2025.

The church is shown in these accounts at the value given by Hextall Twiddy in 2018 plus the improvement and enlargement incurred since. The valuation given by Hextall Twiddy on 1 April 2025 was £525,000, given on the basis that as a consecrated church cannot be re-purposed, it should be given a site value only.

The Parish House is valued at Hextall Twiddy’s 2018 valuation plus enhancement expenditure. Their 2025 report gave the property value of £715,000.

St. Nicholas House at 37 Ferry Road is shown at the purchase price of £440,000 plus associated costs. The valuation given by Hextall Twiddy on 1 April 2025 was £445,000.

On 6 November 2020, the Parish received a donation of a house in Kidlington at No. 17, The Rookery. The property at the Rookery is stated at the value given by Hextall Twiddy on 23 November 2021, of £350,000 as at 6 November 2020, when it was first gifted, plus the costs of the significant refurbishment and enhancement expenditure undertaken. A further formal valuation was carried out by Hextall Twiddy in February 2024, which valued the house and immediate garden at £435,000 and the far garden at £25,000.

13

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

3 . M&G CHARIFUND

.
M&G CHARIFUND
Page
Value of Units as at 31 August 2023
11
Appreciation in year to 31 August 2024
10
Valued units as at 31 August 2024
11		 £
46,860
5,048
£51,908
4.
DEBTORS
Gift Aid
11
Loan to parishioner
Loan to Diocese of Sourozh		 2024
2023
80,591
83,843
9,635
10,537
3,977
3,350
£94,203
£97,730

In respect of Gift Aid on 10 April 2024, HMRC made a payment of £16,896.98 which included £831.43 for interest. This was for the year to 31 August 2022. On 23 March 2025, a gift aid claim in respect of the year to 31 August 2023 was submitted to HMRC. A claim for the year to 31 August 2024 will shortly be submitted.

The loan to the Diocese of Sourozh as at 31 August was repaid in full in the year covered by these accounts. The debtor as at 31 August 2024 represents the deposit for the Diocesan conference and is due for repayment now that event has taken place.

14

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Page
5. CASH AT BANK
Metrobank
Lloyds (CIO account)
Lloyds (CIO deposit account
Lloyds (CIO Treasury Deposit account)
Lloyds Bank (general account)
Lloyds Bank (bookstall account)
COIF deposit account
PayPal
Bookstall PayPal Account
Santander business account
Santander business reserve account
11

6. CREDITORS
Father Stephen Platt – expenses, mileage
and subsistence
For the poor
Independent Examiner fees
11
7. VOLUNTARY INCOME
Legacy
Donations and collections
Gift Aid
Total
10
8. DONATIONS AND COLLECTIONS
(UNRESTRICTED)
Collections and candle sales
General donations
Other donations (Just Giving & Everyclick)
Donate Station
Specific appeals
PayPal donations
PayPal Giving Fund
Corporate Donations
100 Club donations
CAF Give as You Earn
Total
14
9. GIFT AID
Gift Aid on qualifying donations
(provision)
Total Gift Aid
14		 2024
2023
-
48,433
6,156
-
58,067
-
300,000
-
6,968
268,204
23,642
11,520
6,000
6,000
5,515
1,606
5,767
1,435
55,182
82,950
26,243
21,927
£489,379
£446,236
2024
2023
1,150
1,150
3,800
3,800
350
400
£5,300
£5,350
2024
2023
-
90,000
109,594
320,393
12,814
67,345
£122,408
£477,738
2024
2023
25,096
25,247
51,512
260,332
20
65
23,027
23,996
4,488
914
4,086
6,305
-
1,077
600
600
-
502
765
1,355
£109,594
£320,393
2024
2023
12,814
67,345
£12,814
£67,345

15

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Page
10. INCOME FROM CHARITABLE
TRADING ACTIVITIES
Pilgrimage receipts – Holy Land
Pilgrimage receipts- Wales/Northumbria
Bookstall
Council payments - Ukraine
10
11. INVESTMENTINCOME
Lloyds deposit interest
COIF
Santander
M&G Charifund dividends
HMRC Interest of Gift Aid
10
12. CHARITABLE ACTIVITIES
Pastoral & Social Expenses
Building Maintenance & utilities
Liturgical expenses
Expenses of Father Stephen Platt
Legal fees
Donations and subscriptions
Insurance
Office administration
Independent Examiner’s fee
PayPal and banking fees
Pilgrimage costs – Holy Land
Pilgrimage Costs -Wales/Northumbria
AIB Fees for Donate Station
Landline, mobiles and internet
10		 2024
£
-
6,412
10,449
6,600
£23,461
2024
67
407
209
2,915
831
£4,429
2024
4,474
50,035
17,018
5,200
(8,720)
6,626
5,289
720
350
420
-
4,432
1,196
2,167
£89,207		 2023
£
56,497
12,020
13,400
6,625
£88,542
2023
-
194
43
2,848
£3,085
2023
3,193
78,144
8,375
6,900
5,981
7,090
5,689
1,786
700
165
53,342
11,429
1,124
3,013
£186,931

16

THE ORTHODOX PARISH OF ST NICHOLAS OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

13. DONATED GOODS

The stock of books sold or available for sale in the bookstore has been entirely donated. The stock has not been accounted for in these accounts, nor is any cost attributable to sales. The value of the stock is estimated at £15,000 and the donated value is estimated to be equivalent to the sales revenue.

14. RELATED PARTY TRANSACTIONS

No trustee received any remuneration in the year, but expenses incurred for the Charity were reimbursed to three trustees, Father Stephen Platt, Anna Platt and Marianna Colyer. The total figure for expenses re-imbursed was £6,755 (2023 - £60,533).

Marianna Colyer was reimbursed £26 for cleaning materials. She was reimbursed £91 for liturgical expenses in the previous year.

In the previous year, Simon Jennings was reimbursed £27,610 which related to expenses incurred on the pilgrimages to the Holy Land and Northumbria. He received no reimbursement this year. Tatiana Nosova was reimbursed £289. She has received no reimbursement this year.

17