REGISTERED CHARITY NUMBER: 1194649
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2023
for
Debre Meheret St Michael EOTC
A H Accountancy Services Incorporated Financial Accountants 61A Blagden Street Sheffield South Yorkshire S2 5QS
Debre Meheret St Michael EOTC
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Debre Meheret St Michael EOTC
for the Year Ended 31 March 2023
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES Significant activities
Yearly Activity from April 2022 to March 2023 Summary
The following activities have been the key priorities in the first and second quarter for the Parish council form the beginning of April 2022 to March 2023. The church has ensured regular (weekly/fortnightly) church services are taking place. This required.
(1) The active arranging of weekly and sometimes fortnightly liturgical services.
(2) Reach out to members to announce about weekly/fortnightly liturgical services on social media platforms (Viber/WhatsApp).
(3) Organize a pilgrimage to Egyptian monastery (st Athanasius) to share spiritual ideas and experience.
(4) Active callouts to increase the attendance of the members via messages calls and social media platforms.
(5) Regular Saturday and Sunday bible teaching services to youths
(6) Fortnightly bible teaching to the wider community by priests within our church and inviting guests church scholars within UK and outside (Ethiopia).
Listed below are our regular weekly and fortnightly activities:
(01) Liturgy once every two weeks and weekly during lent and other unique occasions as directed by the Ethiopian Orthodox Tewahdo Orthodox Church Synod.
(02) The Priest in charge and the current deacons in Sheffield invited multiple priests and deacons for liturgical service.
(03) Sunday gospel service once every two weeks
(04) Preaching and hymns on Sunday afternoons.
(05) Sunday school weekly
(06) Teaching Geez language speaking reading and hymns
(07) Bible study
(08) Teaching about the pillars of Tewahedo church history and Ethiopian culture.
(09) Annual celebration of St Michael.
(10) New-born christenings form existing and new church members.
(11) Weekly meeting and discussion of the parish council to effectively manage the day to day running of the church and plan reach out work to support our community.
Future Plan:
(1) Purchase suitable and affordable church to increase the church services.
(2) Modernize our finance, office and communication systems.
(3) Arrange social and informal events outside the church to increase social bonds and networking.
(4) Arrange a visit to other churches in the UK.
(5) Invite other church congregations to visit our church and communities.
(6) Extend our youth teaching programs both online and in person by expanding the scope to aspire and inspire them on how to become successful, productive and contented citizens.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1194649
Page 1
Debre Meheret St Michael EOTC
Report of the Trustees for the Year Ended 31 March 2023
Principal address
Upper Habover Street Sheffield S3 7RQ
Trustees
S Workneh T Nugussie S Taye Tulu (appointed 7.8.22) F Tesfaye (appointed 7.8.22) Dr T Mekonnen (appointed 7.8.22) B T Alemu (appointed 7.8.22) S B Mahary N Sentayehu D Tenagashaw
Independent Examiner
Akhtar Hussain A H Accountancy Services Incorporated Financial Accountants 61A Blagden Street Sheffield South Yorkshire S2 5QS
Approved by order of the board of trustees on 3 April 2024 and signed on its behalf by:
S Workneh - Trustee
Page 2
Independent Examiner's Report to the Trustees of Debre Meheret St Michael EOTC
Independent examiner's report to the trustees of Debre Meheret St Michael EOTC
I report to the charity trustees on my examination of the accounts of Debre Meheret St Michael EOTC (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Akhtar Hussain The Institute of Financial Accountants
A H Accountancy Services Incorporated Financial Accountants 61A Blagden Street Sheffield South Yorkshire S2 5QS
3 April 2024
Page 3
Debre Meheret St Michael EOTC
Statement of Financial Activities for the Year Ended 31 March 2023
| Period | |||
|---|---|---|---|
| 2.6.21 | |||
| Year Ended | to | ||
| 31.3.23 | 31.3.22 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 145,892 | 53,725 | |
| Other trading activities | 2 | 827 | - |
| Total | 146,719 | 53,725 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 51,439 | 15,848 |
| NET INCOME | 95,280 | 37,877 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 122,654 | 84,777 | |
| TOTAL FUNDS CARRIED FORWARD | 217,934 | 122,654 |
The notes form part of these financial statements
Page 4
Debre Meheret St Michael EOTC
Balance Sheet
31 March 2023
| 31.3.23 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank and in hand 218,709 CREDITORS Amounts falling due within one year 6 (775) NET CURRENT ASSETS 217,934 TOTAL ASSETS LESS CURRENT LIABILITIES 217,934 NET ASSETS 217,934 FUNDS 7 Unrestricted funds 217,934 TOTAL FUNDS 217,934 |
31.3.22 Total funds £ 122,954 (300) 122,654 122,654 122,654 122,654 122,654 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3 April 2024 and were signed on its behalf by:
S Workneh - Trustee
The notes form part of these financial statements
Page 5
Debre Meheret St Michael EOTC
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| Period | |||
| 2.6.21 | |||
| Year Ended | to | ||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Shop income | 827 | - |
Page 6
continued...
Debre Meheret St Michael EOTC
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
3. RAISING FUNDS
Investment management costs
| Investment management costs | |||
|---|---|---|---|
| Period | |||
| 2.6.21 | |||
| Year Ended | to | ||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Fund raising costs | 7,065 | - | |
| Property repairs | 138 | - | |
| 7,203 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the period ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the period ended 31 March 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 53,725 |
| EXPENDITURE ON | |
| Raising funds | 15,848 |
| NET INCOME | 37,877 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 84,777 |
| TOTAL FUNDS CARRIED FORWARD | 122,654 |
continued...
Page 7
Debre Meheret St Michael EOTC
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 7. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 122,654 122,654 Incoming resources £ 146,719 146,719 At 2.6.21 £ 84,777 84,777 Incoming resources £ 53,725 53,725 |
31.3.23 31.3.22 £ £ 775 300 Net movement At in funds 31.3.23 £ £ 95,280 217,934 95,280 217,934 Resources Movement expended in funds £ £ (51,439) 95,280 (51,439) 95,280 Net movement At in funds 31.3.22 £ £ 37,877 122,654 37,877 122,654 Resources Movement expended in funds £ £ (15,848) 37,877 (15,848) 37,877 |
31.3.22 £ 300 At 31.3.23 £ 217,934 |
31.3.22 £ 300 At 31.3.23 £ 217,934 |
|---|---|---|---|---|
| 217,934 | ||||
| 37,877 |
continued...
Page 8
Debre Meheret St Michael EOTC
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 9
Debre Meheret St Michael EOTC
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| Period | ||
| 2.6.21 | ||
| Year Ended | to | |
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 19,801 | 24,204 |
| Donations re Altar purchase | - | 8,433 |
| Donations re rent/building | 124,931 | 1,514 |
| Membership fees | 220 | 346 |
| Christening | 940 | 970 |
| Direct debit donations | - | 18,258 |
| 145,892 | 53,725 | |
| Other trading activities | ||
| Shop income | 827 | - |
| Total incoming resources | 146,719 | 53,725 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sundries | 2,467 | 1,939 |
| Rent | 6,157 | 6,352 |
| Travel costs | 3,882 | 2,817 |
| Service day allowances | 4,920 | 4,440 |
| Accountancy fees | 475 | 300 |
| Annual St Michael's day costs | 2,261 | - |
| Exceptional items | 24,074 | - |
| 44,236 | 15,848 | |
| Investment management costs | ||
| Fund raising costs | 7,065 | - |
| Property repairs | 138 | - |
| 7,203 | - | |
| Total resources expended | 51,439 | 15,848 |
| Net income | 95,280 | 37,877 |
This page does not form part of the statutory financial statements
Page 10