**The Greek Orthodox Community of Leeds Trustee's Report and Financial Statements For The Year Ended 31 January 2022**
**Charity No. 249960**
## **The Greek Orthodox Community of Leeds**
## **Legal and Administration Information**
## **Chairman of Trustees**
B Paschali
## **Treasurers**
B Paschali K Lekkas
## **Registered Office**
57 Harehills Avenue Leeds LS8 4EU
## **Trustees**
B Paschali A Pavlou C Kyriacou A Christou C Tsakirides C Hadjicharitou
## **Bankers**
Royal Bank of Scotland 27 Park Row Leeds LS1 5QB
## **Accountants**
Abacus Tax Advisors Ltd Chartered Certified Accountants 9 Norville Terrace Headingley Lane Leeds LS6 1BS
Page: 2
## **The Greek Orthodox Community of Leeds**
**Reports and Financial Statements For The Year Ended 31 January 2022**
## **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|
Page: 3
## **The Greek Orthodox Community of Leeds**
## **Trustee's Report**
## **For The Year Ended 31 January 2022**
The trustees present their report and financial statements for the year ended 31st January 2022 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 recovery from the pandemic has been slow as fundraising from voluntary sources and church donations was lower than expected. The Greek school attendance improved as pupils returned and the school was able to continue with delivering lessons online as well as in class. It successfully expanded Greek language lessons for adults which also improved income. Spending on building maintenance was less than expected as volunteers undertook some of the work to the school and church buildings. All rental properties remained let throughout the year and income was not disrupted. No major projects apart from minor roof repairs were undertaken in the period, however, the charity does have some essential major projects in planning.
The charity moved its banking to RBS bank in April 2021 and now operates one account for all its income and expenditure. Overall, the charity ended the financial year with a small surplus which will be put into reserves for future maintenance and projects.
As in previous years, the work of the officers and trustees remains 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.
## **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).
Page: 4
## **The Greek Orthodox Community of Leeds**
## **Trustee's Report Continued**
## **For The Year Ended 31 January 2022**
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;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;
- state whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any departures which are explained in the financial statements.
- 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 24 November 2022 and signed on their behalf by:
.............................................................
**Barry Paschali**
Trustee
Page: 5
## **The Greek Orthodox Community of Leeds Independent Examiner's Report For The Year Ended 31 January 2022**
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
25 November 2022
Page: 6
## **The Greek Orthodox Community of Leeds**
## **Balance Sheet as at 31 January 2022**
|**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
70,758
70,858
(68,366)|**2022**
**£**
**£**
563,257
100
61,327
61,427
(84,224)
2,492
565,749
565,749
565,749
565,749|**2021**
**£**
565,340
(22,797)|
|---|---|---|---|
||||542,543|
||||542,543|
||||542,543|
||||542,543|
Approved by the Board, and authorised for issue, on 24 November 2022 and signed on their behalf by:
## ……………………………………………
## **Barry Paschali**
Trustee
Page: 7
## **The Greek Orthodox Community of Leeds**
## **Statement of Financial Activities**
## **For The Year Ended 31 January 2022**
|**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**|**2022**
**£**
542,553
23,206
565,759
121,461
98,255
23,206|**2021**
**£**
527,737
14,816|
|---|---|---|
|||542,553|
|||124,164
109,348|
|||14,816|
All gains and losses arising in the year have been included in the Statement of Financial Activities and arise from continuing operations.
Page: 8
## **The Greek Orthodox Community of Leeds**
## **Notes to the Financial Statements**
## **For The Year Ended 31 January 2022**
## **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 2021
Additions
Surplus on revaluation
Disposals
At 31 January 2022
**Depreciation**
At 1 February 2021
Charge for the year
Surplus on revaluation
On disposals
At 1 February 2022
**Net book value**
At 31 January 2022
At 1 February 2021|**Plant and**
**Machinery**
**£**
22,841
-
-
-
22,841
12,426
2,083
-
-
14,509
8,332
10,415|**Land**
**and**
**Buildings**
**£**
554,925
-
-
554,925
-
-
-
-
-
554,925
554,925|**Total**
**£**
577,766
-
-
-|
|---|---|---|---|
||||577,766|
||||12,426
2,083
-
-|
||||14,509|
||||563,257|
||||565,340|
Page: 9
## **The Greek Orthodox Community of Leeds**
## **Notes to the Financial Statements (Continued)**
## **For The Year Ended 31 January 2022**
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
**2022**
**£**
100
100
**2022**
**£**
(498)
1,260
62,822
557
4,056
68,197|£
7,000
81,000
180,000
35,000
170,427
81,498|
|---|---|---|
|||**554,925**|
|||**2021**
**£**
100|
|||100|
|||**2021**
**£**
1,445
1,200
78,218
557
2,805|
|||84,225
**Unrestricted**
**Funds**
**£**
542,553
23,206|
|||565,759|
## **6 Trustees and Related Parties**
No trustees received any remuneration for their services (2022: £Nil).
Page: 10
## **The Greek Orthodox Community of Leeds**
## **Schedule Of Income**
## **For The Year Ended 31 January 2022**
|Income Resources
**Greek School**
**Interest received**
**Church**
Grants
Voluntary Sources
**Other incoming resources**
Rent receivable
**Total incoming resources**|**2022**
**£**
35,528
0
2,544
61,795
99,867
21,594
121,461|**2021**
**£**
23,695
2
16,621
61,192|
|---|---|---|
|||101,510
22,654|
|||124,164|
Page: 11
## **The Greek Orthodox Community of Leeds**
## **Statement of Expenditure**
## **For The Year Ended 31 January 2022**
|**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
Donations
Bank Charges and Interest
Travel Costs
Sundries
Greek Archdiocese
Professional fees
**Total overhead expenses**|**£**
25,800
7,072
2,083
2,433
21,527
3,641
249
0
1,786
12,700
4,792
5,040
3,465
2,654
897
1,883
2,232|**2022**
**£**
**£**
25,800
7,413
2,604
1,228
22,397
4,500
510
2,408
1,729
12,476
18,675
0
3,119
961
675
1,670
3,183
98,254
**98,254**|**2021**
**£**
109,348|
|---|---|---|---|
||||**109,348**|
Page: 12