The Greek Orthodox Community of Leeds Trustee's Report and Financial Statements For The Year Ended 31 January 2023
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
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The Greek Orthodox Community of Leeds
Reports and Financial Statements For The Year Ended 31 January 2023
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 2023
The trustees present their report and financial statements for the year ended 31st January 2023 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 level of fundraising from voluntary sources and church donations during the year remained steady and if anything, increased slightly. Our Greek school continued to attract children from across the parish and provided a range of educational and cultural activities in line with our objectives. Our adult Greek language lessons continued their expansion which supported school income and reputation. Spending on building maintenance was slightly less than last year as volunteers undertook some of the work needed. 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 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 did not change during the financial year. The charity 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).
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The Greek Orthodox Community of Leeds
Trustee's Report Continued
For The Year Ended 31 January 2023
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;
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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;
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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 24 November 2023 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 2023
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
27 November 2023
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The Greek Orthodox Community of Leeds
Balance Sheet as at 31 January 2023
| 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 77,638 77,738 (47,633) |
2023 £ £ 561,591 100 70,758 70,858 (68,366) 30,105 591,696 591,696 591,696 591,696 |
2022 £ 563,257 2,492 |
|---|---|---|---|
| 565,749 | |||
| 565,749 | |||
| 565,749 | |||
| 565,749 |
Approved by the Board, and authorised for issue, on 24 November 2023 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 2023
| 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 |
2023 £ 565,749 25,947 591,696 147,299 121,352 25,947 |
2022 £ 542,543 23,206 |
|---|---|---|
| 565,749 | ||
| 121,461 98,255 |
||
| 23,206 |
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 2023
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 2022 Additions Surplus on revaluation Disposals At 31 January 2023 Depreciation At 1 February 2022 Charge for the year Surplus on revaluation On disposals At 1 February 2023 Net book value At 31 January 2023 At 1 February 2022 |
Plant and Machinery £ 22,841 - - - 22,841 14,509 1,666 - - 16,175 6,666 8,332 |
Land and Buildings £ 554,925 - - 554,925 - - - - - 554,925 554,925 |
Total £ 577,766 - - - |
|---|---|---|---|
| 577,766 | |||
| 14,509 1,666 - - |
|||
| 16,175 | |||
| 561,591 | |||
| 563,257 |
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The Greek Orthodox Community of Leeds
Notes to the Financial Statements (Continued)
For The Year Ended 31 January 2023
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/Pensions 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 2023 £ 100 100 2023 £ 900 1,260 41,833 557 3,083 47,633 |
£ 7,000 81,000 180,000 35,000 170,427 81,498 |
|---|---|---|
| 554,925 | ||
| 2022 £ 100 |
||
| 100 | ||
| 2022 £ (329) 1,260 62,822 557 4,056 |
||
| 68,366 Unrestricted Funds £ 565,749 25,947 |
||
| 591,696 |
6 Trustees and Related Parties
No trustees received any remuneration for their services (2023: £Nil).
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The Greek Orthodox Community of Leeds
Schedule Of Income
For The Year Ended 31 January 2023
| Income Resources Greek School Interest received Church Grants Voluntary Sources Other incoming resources Rent receivable Total incoming resources |
2023 £ 40,054 286 0 82,923 123,263 24,036 147,299 |
2022 £ 35,528 0 2,544 61,795 |
|---|---|---|
| 99,867 21,594 |
||
| 121,461 |
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The Greek Orthodox Community of Leeds
Statement of Expenditure
For The Year Ended 31 January 2023
| 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 |
£ 20,361 7,736 1,666 5,622 34,641 14,780 311 0 1,435 12,261 2,982 0 4,283 1,552 0 4,842 8,880 |
2023 £ £ 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 2,232 121,352 121,352 |
2022 £ 98,254 |
|---|---|---|---|
| 98,254 |
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