REPORT FOR MEMBERS TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ## CHARITY NUMBER 1195447 1 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 TRUSTEES' ANNUAL REPORT ............................................................................................................ 3 STATEMENT OF TRUSTEES' RESPONSIBILITIES ........................................................................... 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES .......................................................... 7 STATEMENT OF FINANCIAL ACTIVITIES ....................................................................................... 8 BALANCE SHEET .................................................................................................................................. 9 NOTES TO THE FINANCIAL STATEMENTS ................................................................................... 10 2 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## TRUSTEES' ANNUAL REPORT ## FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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). ## OBJECTIVES AND ACTIVITIES Our main activity is to raise funds for Education and training in London. 1. to advance the education of persons under 25 living in the Royal Borough of Kensington and Chelsea and surrounding areas by developing their mental, physical, and moral capabilities through leisure time activities. 2. to advance in life and relieve the needs of young people through: a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life. b) providing support and activities which develop their skills, capacity, and capabilities to enable them to participate in society as mature and responsible individuals. We are currently supporting 83 individuals in the Borough. The support involves art lesson education and sports programmes for school children and youths. At the moment we are supporting the following activities at the charity. - a) English, Maths and Computer training for young people. - b) Paying for volunteers’ expenses. - c) Lessons for juggling and other sports activities for young individuals. - d) Art lessons for talented individuals who could not afford to pay for them. ## ACHIEVEMENTS AND PERFORMANCE Teit Ethiopia is the home to mostly African children offering vocational training opportunities. Currently, a sports programme is going on to allow young people to learn tennis and juggling in different seasons. The activities were divided with the intention of creating group lessons in Spring, Summer, and Autumn. There was also a parallel program of art lessons in those seasons. The skills acquired through the training sessions have seen the student improve in their social interaction building relationships and showing their talents. The activities have created the opportunity for at least 10 volunteers to transfer their knowledge and experience. This has also positively contributed to the children's mental, physical, and healthy development, which contributes to positive social and economic situations. ## FINANCIAL REVIEW On the financial front, donations, and grants of £24,563 (2021: £26,895) were received from donors and government bodies. The charity has also collected membership fees from parents of children £1,980 (2021: £1,955). The Charity has spent £28,733 (2021: £27,087) in support of children’s and young people’s education in the London Borough of Kensington and Chelsea. The supplementary school creates a bright future. To this end, it promotes community engagement, organises, and supports arts and culture events, provides young children and youths learning services, and underpins supplementary school provision. 3 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## Related Parties During the reporting period, one of the trustees was paid £1,375 (2021: £600) for providing art training and writing and typing poetries. ## Investment Property There are no investment properties ## PLANS FOR FUTURE PERIODS As we look to the future, we continue to strive to fulfil the objective of supporting students. We hope to continue to build on contacts with the RBKC, Westway Trust, our local friends and educational institutions, looking at ways to enhance our networks. We will also work to increase our members base and generate further income from this activity. We have been engaging with the National Resource Centre for Supplementary Education and working on the Quality Mark to get recognition from the National Resource Centre. The charity has secured a small grant from Young K&C’s Supplementary School grant programme in partnership with Lightbulb Trust for a project that is dedicated to the 7[th] anniversary of the Grenfell. The charity has also secured three years of funding for the study coordinator's salary from John Lyons Charity from 2023 onwards. We are also planning to apply for grants towards core cost funds from the K&C Foundation. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing Document The governing document of the Charity is its Amended Declaration of Charity made on 29 July 2021. The Trustees oversee the total operation of the Charity through a regular review of the operation at their regular meetings. The charity trustees started organising community and members in 2019 and were able to do some work until its registration with the charity commission by mobilising members and other supporting organisations. ## Risk Management The Charity's risk management policy is designed to identify and analyse operational and other risks facing the Charity at unacceptable levels, to take steps to mitigate the risks. The main risks can be categorised as: - 1. Strategic and Reputational Risks. 2. Financial Risks (Fraud; UK Economy effects). 3. Compliance Risks (Fire and Health Safety; Security; Filing regulations; Insurance; Data protection, etc.). Risk management is part of the wider system of internal control. This system encompasses several elements that facilitate an effective and efficient operation, enabling the Charity to respond to various operational, legal, financial, and commercial risks. These elements include policies and procedures, reporting, strategic planning, and budgeting. Strategic planning and budgeting are used to set objectives, agree on action plans, and allocate resources. Progress towards meeting strategic plan objectives is monitored regularly. The risk register is reviewed regularly. ## Reserves policy ## Unrestricted Funds The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. The balance held as unrestricted funds on 31 December was £31,842 (2021: £29,418). ## Restricted Fund The balance held as restricted funds on 31 December was £1,672 (2021: £6,286). Endowment Fund **:** No Endowment funds **.** 4 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## PRINCIPAL FUNDING SOURCES The principal income sources are donations and grants received from the public and other charities. One of the large funding our supplementary school received was from the Royal Borough of Kensington and Chelsea, the Grenfell Project Fund. The London Community Foundation's award in principle was £41,588 in January 2021 for therapeutic art sessions to be granted in three consecutive years (i.e., Year 1: £13,589; Year 2: £13,861; Year 3: £14,138). ## GOING CONCERN No material uncertainties that may cast significant doubt about the ability of the charity to continue as a going concern have been identified by the trustees. ## PUBLIC BENEFIT STATEMENT The Trustees have had due regard to the guidance on public benefit issued by the Charity Commission in exercising their duties. ## REFERENCE AND ADMINISTRATIVE DETAILS Charity Name: Teit Ethiopian Orthodox Tewahedo Supplementary School Principal Office: Flat 1 Crossways Princedale Road London W11 4NR The school is running at The Clement James Centre 95 Sirdar Road London W11 4EQ ## Trustees: Rev Abate Gobena (Chairman) Bethlehem Yilma Sosena Yemaneberhane (Terminated Date 07 October 2022) Emebet Solomon (Appointed on 07 October 2022) 5 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees are responsible for preparing the Annual Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (the United Kingdom Generally Accepted Accounting Practice). 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently. - observe the methods and principles in the Charities SORP. - make judgments and estimates that are reasonable and prudent. - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the charity's financial position and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Charity deed. They are also responsible for safeguarding the charity's assets and hence for taking reasonable steps to prevent and detect fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 6 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the trustees on my examination of the Teit Ethiopia Orthodox Tewahedo Supplementary School (the Charity) accounts for the year ended 31 December 2022. Responsibilities and basis of the report As the charity trustee of the Charity, you are responsible for preparing the accounts in accordance with the Charities Act 2011 ('the Act'). I report in respect of my examination of Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 any other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. Demissie Gebrehiwot, FCCA Address: DBA Accountancy 175 Suite AM 298 Romford Road London, E7 9HD 7 ## TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 |||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---| |||Funds|Funds|Funds|Funds| |||2022|2022|2022|2021| ||Notes|£|£|£|£| |Income and Endowment from:|||||| |Donations and Legacies|3|6,232|20,311|26,543|28,850| |||….........|…......|….........|….........| |Total income and endowments||6,232|20,311|26,543|28,850| |||======|======|======|======| |_Expenditure on:_|||||| |Charitable activities:|||||| |Education and Support|4|3,808|24,925|28,733|27,087| |||---------|---------|---------|---------| |Total Expenditure||3,808|24,925|28,733|27,087| |||----------|----------|----------|----------| |Net Income (Deficit)||2,424|(4,614)|(2,190)|1,763| |||-----------|-----------|----------|----------| |Net movement in funds||2,424|(4,614)|(2,190)|1,763| |Funds Balance brought forward||29,418|6,286|35,704|33,941| |||-----------|-----------|----------|----------| |Funds Balance carried forward||31,842|1,672|33,514|35,704| |||========|======|======|======| All activities of the Charity are classed as continuing. 8 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## BALANCE SHEET ## AS OF 31 DECEMBER 2022 |BALANCE SHEET
AS OF 31 DECEMBER 2022||||||||| |---|---|---|---|---|---|---|---|---| |||||||2022||2021| |||Notes||||£||£| |Current Assets||||||||| |||||||||| |Cash at the bank and in hand||||||35,989||36,204| |||||||---------||----------| |||||||35,989||36,204| |Liabilities||||||||| |Creditors: Amounts falling due within one year||5||||||| |||||||2,475||500| |||||||---------||----------| |||||||||| |Net Current Asset||||||33,514||35,704| |||||||---------||----------| |Total assets less current liabilities||||||33,514||35,704| |||||||-----------||----------| |Creditors: Amounts falling due after one year||||||||| |||||||-||-| |||||||----------||----------| |Net Assets||||||33,514||35,704| |||||||=======||======| |Funds of the charity:||||||||| |Unrestricted funds||||||31,842||29,418| |Restricted Funds||6||||1,672||6,286| |||||||---------||---------| |Total Funds||7||||33,514||35,704| |||||||=====||=====| ## 10/04/2023 These Financial Statements are approved by the trustees on ………… and are signed on their behalf by Rev. Abate Gobena (Chairman of the Trustees) 9 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ## 1. BASIS OF PREPARATIONS These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: - The Statement of Recommended Practice: Accounting and Reporting by 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 Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) - The charity did not prepare a statement of cash flows based on the small charities’ exemptions of Section 7 of FRS 102. The charity constitutes a public benefit entity as defined by FRS 102. ## 2. ACCOUNTING POLICIES ## Recognition of income These are included in the Statement of Financial Activities (SoFA) when: the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. ## Grants and donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance-related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance-related conditions are met (5.16 FRS 102 SORP). ## Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. ## Resources expended Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. 10 TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNT(CONT) ## Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. ## Tangible fixed assets No depreciation is provided as the charity does not own any assets. ## Taxation The Charity is exempt from tax on its charitable activities. ## Fund accounting Unrestricted funds can be used by the charitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. ## Financial period The prior period of financial activity was undertaken before the registration of the charity under an unregistered community charity. ## Wages and Salary Costs The Charity has no paid employees during the year under review, and the trustees provide their services for free. ## 3. DONATIONS AND LEGACIES |London Community
Foundation Grant
RBKC Grant
Westway Trust Grant
Other Grants
Members Contributions|2022
£
15,361
4,950
4,252
-
1,980
26,543|2021
£
13,589
1,500
9,766
2,040
1,955| |---|---|---| |||28,850| 11 ## TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNT(CONT) ## 4. EDUCATION AND SUPPORT EXPENDITURE |Education
Sports Lessons
Art Lessons
Languages Lessons
Other Expenses
Support
Administrative
expenses
Insurance
Internet and subscriptions
Independent examiner fee
Total Expenditure|2022
£
4,637
6,445
2,062
11,779
24,924
2,852
156
276
525
3,809
28,733|2021
£
12,204
9,639
3,058
1,223| |---|---|---| |||26,124| |||-
226
237
500| |||963| |||27,087| ## 5. CREDITORS |Independent Examiners Fee
St Clements Rent Payable|2022
£
525
1,950
2,475|2021
£
500
-| |---|---|---| |||500| ## 6. RESTRICTED FUNDS The restricted funds are related to the RBKC and London Community Foundation grants. The grant from the Royal Borough of Kensington and Chelsea (RBKC) can only be used to help children maintain and protect their heritage language through activities such as gymnastics and tennis in the local area. While the grant from the London Community Foundation can only be spent on delivering three therapeutic art sessions each week benefitting 45 Ethiopian young people aged 5 to 11 over three years. 12 ## TEIT ETHIOPIA ORTHODOX TEWAHEDO SUPPLEMENTARY SCHOOL REPORT FOR MEMBERS FOR THE YEAR ENDED 31 DECEMBER 2022 ## 7. SUMMARY OF FUND MOVEMENTS ||Fund balance|Income|Expenditure|Fund balance| |---|---|---|---|---| ||brought forward|||carried forward| ||£|£|£|£| |Unrestricted funds|29,418|6,232|3,808|31,842| |Restricted funds|6,286|20,311|24,925|1,672| |Total Funds|35,704|26,543|28,733|33,514| ## 8. RELATED PARTIES During the reporting period, one of the trustees was paid £1,375 (2021: £600) for providing art training and writing and typing poetries. ## 9. CONTINGENT LIABILITIES There are no contingent liabilities. 13