The Greek Orthodox Community of Leeds Trustee's Report and Financial Statements For The Year Ended 31 January 2021
Charity No. 249960
The Greek Orthodox Community of Leeds Legal and Administration Information
Chairman of Trustees
B Paschali
Treasurer
B Paschali
Registered Office
57 Harehills Avenue Leeds LS8 4EU
Trustees
B Paschali A Pavlou C Kyriacou A Christou C Tsakirides C Hadjicharitou
Bankers
Cynergy Bank 87 Chase Side London N14 5WH
Accountants
Abacus Tax Advisors Ltd Chartered Certified Accountants 9 Norville Terrace Headingley Lane Leeds LS6 1BS
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The Greek Orthodox Community of Leeds
Reports and Financial Statements For The Year Ended 31 January 2021
Contents
| Page | |
|---|---|
| Trustee's Report | 4 |
| Accountants Report | 6 |
| Balance Sheet | 7 |
| Statement of Financial Activities | 8 |
| Notes | 9 |
| Schedule of Income | 11 |
| Schedule of Expenditure | 12 |
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The Greek Orthodox Community of Leeds
Trustee's Report
For The Year Ended 31 January 2021
The trustees present their report and financial statements for the year ended 31st January 2021 under the Charities Act 2011, and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP 2005.
Structure, Governance and Management
Organisation
The charity is managed by an elected executive committee of 12 members (with a two year term office) and a group of six trustees who are responsible for the charity's assets. New trustees are appointed as and when required by the existing trustees and are normally appointed for life or until they resign (or when they can no longer perform their duties).
Objectives and activities
Objectives
The principal activity of the charity is to acquire places of religious worship, provide religious and cultural education, together with related social and welfare activities. It also makes donations to charitable institutions. Full details can be provided in the trust deed.
Activities
The charity aims to provide (a) a place of worship for Orthodox Christians who are predominantly members of the Greek Orthodox Archdiocese of Great Britain (b) educational opportunities for the community we serve (or Greeks and Greek Cypriots who are first, second and third generation immigrants (c) social welfare and cultural activities (d) an information centre.
Financial Review
The pandemic had a major effect on the charity's finances. Its normal income of donations from church goers and fund raising events was distrupted, however, members rallied around and supported the charity as best they could. School income dropped as some members removed their children from physically attending the school and did not take up the alternative online lessons offered. The church, hall and school buildings were under lockdown and could not be used for a good proportion of the financial year. Alternative means of income generation was established such as online donations through social media channels. Teaching and other school activities were replaced with online versions where possible. Taking all the above into account, charity still ended the financial year with a small surplus.
The work of the officers and trustees has remained voluntary with no reimbursement, The Charity's employee status has not changed during the financial year. The charity has continued all contracts providing insurance to trustees and employees as well as to all incoming members.
Gipton Avenue is rented out as an additional investment property.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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The Greek Orthodox Community of Leeds
Trustee's Report Continued
For The Year Ended 31 January 2021
The law applicable to charities in England and Wales requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs 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;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;
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state whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any departures which are explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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 Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was considered and approved by the Trustees on 16 December 2021 and signed on their behalf by:
.............................................................
Barry Paschali
Trustee
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The Greek Orthodox Community of Leeds Independent Examiner's Report For The Year Ended 31 January 2021
I report on the accounts which are set out on the pages 7 to 12
Respective responsibilities of the Trustees and Examiner
The trustees are responsible for the preparation of the accounts. The trustees consider than an audit is not required for the year
It is my responsibility to :-
Examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general directions given by the Charity Commission (under section 145)5)(b) of the 2011 Act); and state whether particular matters have come to my attention.
Basis of independent examiners 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 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 therefore limited.
.......................................................................
For and on behalf of Abacus Tax Advisors Ltd Chartered Certified Accountants 9 Norville Terrace Headingley Lane Leeds LS6 1BS
17 December 2021
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The Greek Orthodox Community of Leeds
Balance Sheet as at 31 January 2021
| Note Fixed Assets Tangible Assets 2 Current Assets Debtors 3 Bank and Cash Creditors Amounts due within one year 4 Net Current Assets Total assets less current liabilities Net Assets Capital and reserves Profit and loss account 5 |
£ 100 61,327 61,427 (84,224) |
2021 £ £ 565,340 100 46,068 46,168 (86,385) (22,797) 542,543 542,543 542,543 542,543 |
2020 £ 567,944 (40,217) |
|---|---|---|---|
| 527,727 | |||
| 527,727 | |||
| 527,727 | |||
| 527,727 |
Approved by the Board, and authorised for issue, on 3 December 2021 and signed on their behalf by:
……………………………………………
Barry Paschali
Trustee
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The Greek Orthodox Community of Leeds
Statement of Financial Activities
For The Year Ended 31 January 2021
| Page General Fund Total funds brought forward Surplus for the year Total funds carried forward Summary of Movement of Funds Income Expenditure Surplus/(Deficit) for the year |
2021 £ 527,727 14,816 542,543 124,164 109,348 14,816 |
2020 £ 499,777 27,950 |
|---|---|---|
| 527,727 | ||
| 141,837 113,887 |
||
| 27,950 |
All gains and losses arising in the year have been included in the Statement of Financial Activities and arise from continuing operations.
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The Greek Orthodox Community of Leeds
Notes to the Financial Statements
For The Year Ended 31 January 2021
1 Accounting Policies
A summary of the principal accounting policies adopted, judgements and key sources of estimation uncertainty, is set out below.
Accounting Convention
The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance to Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and has also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011.
Income
All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably.
Resources Expended
Expenditure is included in the Statement of Financial Activities on a accruals basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those incurred in the administration of the charity and are primarily associated with the constitutional and statutory requirements.
| 2 Tangible fixed assets Cost At 1 February 2020 Additions Surplus on revaluation Disposals At 31 January 2021 Depreciation At 1 February 2020 Charge for the year Surplus on revaluation On disposals At 1 February 2021 Net book value At 31 January 2021 At 1 February 2020 |
Plant and Machinery £ 22,841 - - - 22,841 9,822 2,604 - - 12,426 10,415 13,019 |
Land and Buildings £ 554,925 - - 554,925 - - - - - 554,925 554,925 |
Total £ 577,766 - - - |
|---|---|---|---|
| 577,766 | |||
| 9,822 2,604 - - |
|||
| 12,426 | |||
| 565,340 | |||
| 567,944 |
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The Greek Orthodox Community of Leeds
Notes to the Financial Statements (Continued)
For The Year Ended 31 January 2021
Land and Building are freehold
| The following properties are held:- Church and adjacent community hall at Harehills Avenue, Leeds Investment property at Town street, Farsley, Leeds Extension (approximate valuation cost) 31 Avenue Crescent, Leeds Work on 31 Avenue Crescent, Leeds 3 Debtors Other debtors 4 Creditors: amounts falling due within one year PAYE Accruals RBS Loan Other Wages 5 Statement of Movement on Reserves Balance brought forward Surplus for the year Balance carried forward |
Year Purchased 1966 2000 2006 1985 2016 2021 £ 100 100 2021 £ 1,445 1,200 78,218 557 2,805 84,225 |
£ 7,000 81,000 180,000 35,000 170,427 81,498 |
|---|---|---|
| 554,925 | ||
| 2020 £ 100 |
||
| 100 | ||
| 2020 £ 241 1,200 82,125 557 2,262 |
||
| 86,385 Unrestricted Funds £ 527,727 14,816 |
||
| 542,543 |
6 Trustees and Related Parties
No trustees received any remuneration for their services and no expenses were reimbursed (2021: £Nil).
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The Greek Orthodox Community of Leeds
Schedule Of Income
For The Year Ended 31 January 2021
| Income Resources Greek School Interest received Church Grants Voluntary Sources Other incoming resources Rent receivable Total incoming resources |
2021 £ 23,695 2 16,621 61,192 101,510 22,654 124,164 |
2020 £ 29,159 100 0 90,682 |
|---|---|---|
| 119,941 21,896 |
||
| 141,837 |
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The Greek Orthodox Community of Leeds
Statement of Expenditure
For The Year Ended 31 January 2021
| Other Administrative Costs Priest Wages Other Wages Depreciation Greek School - Expenses Greek School - Teachers costs Functions/Events Pension costs Printing, Postage & Stationary Telephone Building Running costs Building Repairs Greek Archdiocese Training Bank Charges and Interest Travel Costs Sundries Professional fees Total overhead expenses |
£ 25,800 7,413 2,604 1,228 22,397 4,500 510 2,408 1,729 12,476 18,675 1,670 0 3,119 961 675 3,183 |
2021 £ £ 25,800 3,650 3,255 2,181 29,746 13,381 0 1,558 1,753 17,540 6,638 599 1,130 3,797 520 27 2,312 109,348 109,348 |
2020 £ 113,887 |
|---|---|---|---|
| 113,887 |
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