| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Report ofthe Independent Auditors |
4 | to | 7 |
| Statement ofFinancial Activities | |||
| Statement ofFinancial Position | |||
| Statement ofCash Flows | 10 | ||
| Notes to the Statement ofCash Flows | |||
| Notes to the Financial Statements | 12 | to | 21 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | g | ||||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 696,480 | 27,597 | 724,077 | 667,969 | ||
| Charitable | activities | ||||||
| Charitable | Activites | ||||||
| 29,467 | 29,467 | 28,817 | |||||
| Other trading activities |
3 | 72,709 | 72,709 | 24,467 | |||
| Investment | income | 4 | 30,034 | 30034 | 29 124 | ||
| Total | 828,690 | 27,597 | 856,287 | 750,377 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Charitable | Activites | ||||||
| 602,420 | 120,458 | 722,878 | 33,145 | ||||
| Russian Orthodox Church in London |
|||||||
| 626,588 | |||||||
| Diocese Expenses | |||||||
| 82,073 | 82,073 | 75,062 | |||||
| Other | 24,245 | 24,245 | 33,211 | ||||
| Total | 684,493 | 144,703 | 829,196 | 768,006 | |||
| NET INCOME/(EXPENDITURE) | 144,197 | (117,106) | 27,091 | (17,629) | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds | brought forward |
1,070,074 | 5,443,745 | 6,513,819 | 6,531,448 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,214,271 | 5,326,639 | 6,540,910 | 6,513,8]9 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | fimds | |||||
| Notes | f | f | ||||||
| FIXEDASSETS | ||||||||
| Tangible assets | 11 | 747,927 | 5,287,502 | 6,035,429 | 6,155,735 | |||
| CURRENT ASSETS | ||||||||
| Stocks | 12 | 20,000 | 20,000 | 20,000 | ||||
| Debtors: amounts | faBing due within one year | 13 | 21,373 | 21,373 | 27377 | |||
| Cash at bank | 479,221 | 39,137 | 518,358 | 354,928 | ||||
| 520,594 | 39,137 | 559,731 | 402,305 | |||||
| CREDITORS | ||||||||
| Amounts falling due within one year |
14 | (54,250) | (54,250) | (44,221) | ||||
| NET CURRENT | ASSETS | 466,344 | 39,137 | 505,481 | 358,084 | |||
| TOTAL ASSETSLESSCURRENT | ||||||||
| LIABILITIES | 1,214,271 | 5,326,639 | 6,540,910 | 6,513,819 | ||||
| NETASSETS | 1,214,271 | 5,326,639 | 6,540,910 | 6,513,819 | ||||
| FUNDS | 15 | |||||||
| Unrestricted funds: |
||||||||
| General fund |
1,214,271 | 1,070,074 | ||||||
| Restricted funds: | ||||||||
| New Benevolent | Fund | 38,355 | 35,936 | |||||
| Cathedral Refurbishment |
and Maintenance | Fund | 3,837,473 | 3,923,195 | ||||
| Property Fund |
1,450,81 1 | 1,484,614 | ||||||
| 5,326,639 | 5,443,745 | |||||||
| TOTALFUNDS | 6,540,910 | 6,513,819 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from | operating | activities | |||
| Cash generated fiom operations |
163,396 | 88,627 | |||
| Net cash provided | by operating activities |
163,396 | 88,627 | ||
| Cash flows from | investing | activities | |||
| Purchase oftangible fmed assets | (89,642) | ||||
| Interest received | 34 | 124 | |||
| Net cash provided | by/(used | in) investing | activities | 34 | (89,518) |
| Change in cash and cash equivalents | in the | ||||
| reporting period |
163,430 | (891) | |||
| Cash and cash equivalents | at the beginning | ||||
| ofthe reporting | period | 354,928 | 355,819 | ||
| Cash and cash equivalents | at the end | ofthe | |||
| reporting period |
518,358 | 354,928 |
| RECONCILIATION | RECONCILIATION | OF | NET INCOME/(EXPENDITURE) | NET INCOME/(EXPENDITURE) | TO NET CASH | TO NET CASH | FLOW FROM | OPERATING | |
|---|---|---|---|---|---|---|---|---|---|
| ACTIVITIES | |||||||||
| 2021 | 2020 | ||||||||
| Net income/(expenditure) | for the reporting | period (as per the | Statement | ||||||
| ofFinancial Activities) | 27,091 | (17,629) | |||||||
| Adjustments for: |
|||||||||
| Depreciation charges |
120,305 | 121,037 | |||||||
| Interest received | (34) | (124) | |||||||
| Decrease/(increase) | in debtors | 6,005 | (23,714) | ||||||
| Increase in creditors | 10,029 | 9,057 | |||||||
| Net cash provided | by | operations | 163,396 | 88,627 | |||||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | ||||||||
| At | 1.1.21 | Cash flow | At 31.12.21 | ||||||
| f | |||||||||
| Net cash | |||||||||
| Cash at bank | 354,928 | 163,430 | 518,358 | ||||||
| 354,928 | 163,430 | 518,358 | |||||||
| Total | 354,928 | 163,430 | 518,358 |
| Freehold property | 2%on cost |
|---|---|
| Long leasehold | Over the term ofthe lease |
| lmproveinents to property |
2%on cost |
| Fixtures and fittings | 20%on cost |
| Motor vehicles | 25%on cost |
| 2. | DONATIONS | AND LE | GACIES | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Collections | 364,918 | 198,251 | |||
| Donations (candles, altar |
bread and food) | 176,074 | 146,490 | ||
| Grants | 144,081 | 206,761 | |||
| Refurbishment | costs | 934 | 74,240 | ||
| Donations for | special services | 38,070 | 42,227 | ||
| 724,077 | 667,969 | ||||
| Grants received, included | in the above, are as follows: | ||||
| 2021 | 2020 | ||||
| Other grants | 144,081 | 206,761 | |||
| 3. | OTHER TRADING ACTIVITIES | ||||
| 2021 | 2020 | ||||
| Shop income | 72,709 | 24,467 | |||
| 4. | INVESTMENT INCOME | ||||
| 2021 | 2020 | ||||
| f. | |||||
| Rents received | 30,000 | 29,000 | |||
| Deposit account interest | 34 | 124 | |||
| 30,034 | 29,124 |
| 5. | INCOME | INCOME | FROM CHARITABLE ACTIVITIES | FROM CHARITABLE ACTIVITIES | FROM CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| Activity | ||||||||
| Charitable | Activites | |||||||
| Nursery | school | |||||||
| 29,467 | 28,817 | |||||||
| 6. | CHARITABLE ACTIVITIES | COSTS | ||||||
| Support | ||||||||
| Direct | costs (see | |||||||
| Costs | note 7) | Totals | ||||||
| 8 | 6 | |||||||
| Charitable | Activites | |||||||
| 535,607 | 187,271 | 722,878 | ||||||
| Diocese | Expenses | |||||||
| 82,073 | 82,073 | |||||||
| 617,680 | 187,271 | 804,951 |
| tof82,073 this | is made up ofthe fo | llowing expenses: | |
|---|---|---|---|
| 2021 | 2020 | ||
| Deanery support | 9,250 | 9,500 | |
| Diocesan salary | 52,823 | 52,448 | |
| Travel | |||
| Adtnin | |||
| Sourozh magazine | 3,114 | ||
| Miscellaneous | grant | 20,000 | 10,000 |
| 82,073 | 75,062 |
| Governance | |||
|---|---|---|---|
| Management | Finance | costs | Totals |
| 8 | f, | ||
| 155,934 | 8,134 | 23,203 | 187,271 |
| STAFF C | OS | TS | |||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| f, | 8 | ||||||
| Wages and | salaries | 237,872 | 245,331 | ||||
| Social security | costs | 26,265 | 23,422 | ||||
| 264,137 | 268,753 | ||||||
| The average monthly | number ofemployees | during the year was as follows: | |||||
| 2021 | 2020 | ||||||
| Staff | 17 | 18 | |||||
| No employees | received emohunents | in excess of$60,000. | |||||
| COMPARATIVES | FORTHE STATEMENT OF FINANCIAL ACTIVITIES | ||||||
| Unrestricted | Restricted | Total | |||||
| funds | funds | funds | |||||
| INCOME | AND ENDOWMENTS | FROM | |||||
| Donations | and | legacies | 564,339 | 103,630 | 667,969 | ||
| Charitable | activities | ||||||
| Charitable | Activites | ||||||
| 28,817 | 28,817 | ||||||
| Other trading | activities | 24,467 | 24,467 | ||||
| Investment | income | 29,124 | 29,124 | ||||
| Total | 646,747 | 103,630 | 750,377 |
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| EXPENDITURE | ON | ||||
| Charitable activities |
|||||
| Charitable Activites |
|||||
| 33,145 | 33,145 | ||||
| Russian Orthodox | Church in London | ||||
| 505,551 | 121,037 | 626,588 | |||
| Diocese Expenses | |||||
| 75,062 | 75,062 | ||||
| Other | 5,075 | 28,136 | 33,211 | ||
| Total | 618,833 | 149,173 | 768,006 | ||
| NET INCOME/(EXPENDITURE) | 27,914 | (45,543) | (17,629) | ||
| Transfers between |
funds | (15,339) | 15,339 | ||
| Net movement in |
funds | 12,575 | (30,204) | (17,629) | |
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought | forward | 1,057,499 | 5,473,949 | 6,531,448 | |
| TOTAL FUNDS CARRIED FORWARD | 1,070,074 | 5,443,745 | 6,513,819 |
| TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Improvements | |||
| Freehold | Long | to | |
| property | leasehold | property | |
| g | |||
| COST | |||
| At I January 2021 and 31 December 2021 | 2,429,492 | 130,162 | 8,269,266 |
| DEPRECIATION | |||
| At I January 2021 | 337,192 | 28,636 | 4,321,998 |
| Charge for year | 29,154 | 1,720 | 86,503 |
| At 31December 2021 | 366,346 | 30,356 | 4,408,501 |
| NET BOOK VALUE | |||
| At 31December 2021 | 2,063,146 | 99,806 | 3,860,765 |
| At 31December 2020 | 2,092,300 | 101,526 | 3,947,268 |
| Fixtures | |||
| and | Motor | ||
| fittings | vehicles | Totals | |
| COST | |||
| At 1 January 2021 and 31December 2021 | 122,786 | 36,267 | 10,987,973 |
| DEPRECIATION | |||
| At I January 2021 | 108,145 | 36,267 | 4,832,238 |
| Charge for year | 2,929 | 120,306 | |
| At 31December 2021 | 111,074 | 36,267 | 4,952,544 |
| NET BOOK VALUE | |||
| At 31December 2021 | 11,712 | 6,035,429 | |
| At 31December 2020 | 14,641 | 6,155,735 |
| 12. | STOCKS | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Stocks | 20,000 | 20,000 | ||
| 13. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 2021 | 2020 | |||
| Other debtors | 14,914 | 18,300 | ||
| Prepayments and accrued |
income | 6,459 | 9,077 | |
| 21,373 | 27,377 | |||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| 6 | ||||
| Trade creditors | 5,777 | 5,941 | ||
| Social security and other | taxes | 18,187 | 8,143 | |
| Other creditors | 1,426 | 1,197 | ||
| Russian Diocese ofSourozh | 11,540 | 11,540 | ||
| Accrued expenses | 17,320 | 17,400 | ||
| 54,250 | 44,221 | |||
| 15. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.21 | in funds | 31.12.21 | ||
| 6 | ||||
| Unrestricted funds |
||||
| General fund |
1,070,074 | 144,197 | 1,214,271 | |
| Restricted funds |
||||
| New Benevolent Fund | 35,936 | 2,419 | 38,355 | |
| Cathedral Refurbishment |
and Maintenance | |||
| Fund | 3,923,195 | (85,722) | 3,837,473 | |
| Property Fund |
1,484,614 | (33,803) | 1,450,811 | |
| 5,443,745 | (117,106) | 5,326,639 | ||
| TOTAL FUNDS | 6,513,819 | 27,091 | 6,540,910 |
| Net movement in |
funds, | includ | ed in the above a |
re as follows: | |||
|---|---|---|---|---|---|---|---|
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| Unrestricted funds |
|||||||
| General fund | 828,690 | (684,493) | 144,197 | ||||
| Restricted funds |
|||||||
| New Benevolent | Fund | 26,664 | (24,245) | 2,419 | |||
| Cathedral Refurbishment |
and | Maintenance | |||||
| Fund | 934 | (86,656) | (85,722) | ||||
| Property Fund | (1) | (33,802) | (33,803) | ||||
| 27,597 | (144,703) | (117,106) | |||||
| TOTAL FUNDS | 856,287 | (829,196) | 27,091 | ||||
| Comparatives for movement |
in funds | ||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.1.20 | in funds | funds | 31.12.20 | ||||
| 8 | f. | ||||||
| Unrestricted funds |
|||||||
| General fund | 1,057,499 | 27,914 | (15,339) | 1,070,074 | |||
| Restricted funds | |||||||
| New Benevolent | Fund | 34,745 | 1,191 | 35,936 | |||
| Cathedral Refurbishment |
and | Maintenance | |||||
| Fund | 3,920,056 | (12,200) | 15,339 | 3,923,195 | |||
| Property Fund | 1,519,148 | (34,534) | 1,484,614 | ||||
| 5,473,949 | (45,543) | 15,339 | 5,443,745 | ||||
| TOTAL FUNDS | 6,531,448 | (17,629) | 6,513,819 |
| Comparative net moveme |
nt in funds, included in the abo |
ve are as follows: | ||
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| Unrestricted funds General fund |
646,747 | (618,833) | 27,914 | |
| Restricted funds New Benevolent Fund |
29,327 | (28,136) | 1,191 | |
| Cathedral Refurbishment Fund Property Fund |
and Maintenance | 74,303 | (86,503) (34,534) |
(12,200) (34,534) |
| 103,630 | (149,173) | (45,543) | ||
| TOTAL FUNDS | 750,377 | (768,006) | (17,629) |
| A current year 12months | and prior year 12mon | ths combined positi | on is as follows; | ||
|---|---|---|---|---|---|
| Net | Transfers | ||||
| movement | between | At | |||
| At 1.1.20 | in funds | fundsf | 31.12.21 | ||
| Unrestricted funds General fund |
1,057,499 | 172,111 | (15,339) | 1,214,271 | |
| Restricted funds New Benevolent Fund |
34,745 | 3,610 | 38,355 | ||
| Cathedral Refurbishment Fund Property Fund |
and Maintenance | 3,920,056 1,519,148 |
(97,922) (68,337) |
15,339 | 3,837,473 1,450,811 |
| 5,473,949 | (162,649) | 15,339 | 5,326,639 | ||
| TOTAL FUNDS | 6531 448 | 9,462 | 6,540,910 |
| A current year 12months follows: |
and prior year 12 months co |
mbined net movement in fun |
ds, included in t |
he above are |
|---|---|---|---|---|
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| Unrestricted funds General fund |
1,475,437 | (1,303,326) | 172,111 | |
| Restricted funds New Benevolent Fund |
55,991 | (52,381) | 3,610 | |
| Cathedral Refurbishment Fund Property Fund |
and Maintenance | 75,237 (1) |
(173,159) (68,336) |
(97,922) (68,337) |
| 131,227 | (293,876) | (162,649) | ||
| TOTALFUNDS | 1,606,664 | (1,597,202) | 9,462 |