Greek Orthodox Community of St George the Martyr Trustee's Report and Accounts for the year ended 315t December 2024 Charity Registration Number: 272135
Greek Orthodox Communlty of St George the Martyr Contents Trustee's annual report Independent examinÈr< report Staternent of finanaal artivities Balance Sheet Notes to the finanual statements io
Greek Orthodox Community of St George the Martyr Trustees, Annual Report for the year ended 31" December 2024 The Trustees present their report with the unaudited financial statements of the tharity for the year ended 31" December 2024 Reference and Administratlve Detalls The charity is registered with the Charity Commission and its registration number is 272135. The Charity is not an incorporated body. Principal address= Borough Road. Kingston upon Thames, rr2 6BD Chairman.. H.E. Archbishop Nikitas of Thyateira & Great Britain Secretary-. Socratis Papacosta Treasurer.. Demetrios Marcou Member5: Charles Kounoupias Petros Stavrinides Vasilios Papalois Andreas Alexiou Neocles Papaioannou Theotokis Hajipavlou Charalambos Charalambides The chaiivs professional advisors are: Delta Accountants 27 Old Gloucester Street London WCIN 3AX Bankers Metro Bank PLC One Southampton Row London WCIB SHA Charity Objertives B y such means as are charttable to promote the Greek Orthodox faith and liturgical life of Orthodox people and Greek Orthodox charitable institutions in the Royal Borough of Kingston upon Thames. Activities and Review The objectives of the charity to provide a place of worship and facilities for the education and religious knowledge for Christian Orthodox have been achieved. The Trust provided Saturday and Sunday schools for the community and particularly for the younger members. many cultural and social events have taken place throughout the period. There is also a Food Bank to support families in need.
Greek Orthodox Community of st George the Martyr Trustees, Annual Report- Cont. for the year ended 31" December 2024 Future Developments The Trustees intend to expand and improve the quality of tare, education and cultural awareness for the community Financial Review The Financial statements show net incoming resour for the year amounting £46.95312023- £166.4591 Trustee Responslbllltles The charity's trustees are responsible fpr preparrn8 a trustees, annual report and financial statements in accordance with applicable law and UnFted Kingdom Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities requires the charity trustees to prepare financial statements which give a true and fair view of the siate of affairs of the charity ancl of the incoming resoufces and application of resources of the charity for that period. In preparing these financial 51atemenls the trustees are required to= Select suitable accounting polioe5 and then app them consistentlv- Observe the methods and principles of the Charities SORP,. Make judgèrnents and estimates that are reasonable and p¥udent.' slate whether applicable accounting siandafds and statements of recommended practise have been followed. subject to any material departvres disclosed and explained in thè statement of accounts; and Prepare the financial statements on the Eoing concern basis unless it is inappropriate to presume that the charity will continue its operations. The trustees are responsible for keeping propw accounting records. which disclose with reasonable ccuracy at any time the financial position of the charity at the time and io enable the trustee5 to ensure that the statement5 cornpty with the Charities Act 2011. the applicable CharÈties (Accounts and Reports) Regulations. and the provisions of the Trust Deed. They are also responsible for safeguardin8 the a55ets of the charity and hence fof t3kin8 reaSonae steps for the prevention and detettion of fraud and other statement of disclosure of infomlation to IndeNdent Examiner5 So far as the trusiees are aware. there is no relevant information of which the ChariV5 Independent Examiners are unaware and each trustee has taken all the steps that he or she ou8ht to have as a trustee in order to make himsdf or herself aware of any relevant information and to establish that the Charity's Independent Examiners are aware of that information. Signed on ehalf of the Trustees.. cratis Papacost Honorary Secretary April 2025
Greek Orthodox Community of St George the Martyr Independent Examiners Report for the year ended 31 December 2024 We have examined the financial statements of pages 8 to 10. which have been prepared under the accounting policies set out in pa8es 8 and 9. Respecttve responsibilities of trustees and examiner As the charf(y's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of Section43121 of the Charities Act 1993 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 4317llbl of the Art. whether particular matters have come to our attention. Basls of Independent examinerfs report Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts 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 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts. Independent examlnerfs ststement In connection with our examination. no matter has come to our attention= l. which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with Section 41 of the Act- and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met,. or 2. to which, in our opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached. KKP & Co Limited Association of International Accountants 46 Syon Lane Isleworth MiddlesexTW7 5NQ E AIA THE A550CIATION OF INTERNATIONAL ACCOUNTANTS MEMBER IN PRACTICE 29" April 2025
Greèk OrthodoxCOmrnuty of St Gtorye the Martyr Consolidated Statewent of Finar(ial ActNities- Small for the year ended 31M December 2024 Note5 UThrestritted Funds 2024 LlnrestrKted Funds 2023 IrKomln8 resouros Donations School Fees & Adult Oasses Fundraising Events Relgiws Functions Tray CollettKJn/Candles Hall and Cla55room Rentsl Interest Recewed Sale of School Calendars Grants gJndry Income hool Tuck Shop Rent ReceNed 122.3LK) 85,416 17.266 229,377 60,554 9,937 11.505 29,303 5,280 1,263 93 20,642 200 434 23.990 6.510 2,180 310 2.253 575 1,965 4.597 Total In¢oming Resources R*Sr¢¢$ txperKled Wages NIC and Pensions 93,619 8,149 19,601 2.321 88.351 4,161 26.721 Repairs & Renewals Telephone. P05tage, Printing & Statbjnary Insurance Motornravel Expenses Accountancy Fees Deprec01ion PrOfeSsnal Fees 8ank Charges Cleaning Charitable Donatn$ Book 5ponsor5hip Visiting Clergy Purchase5 Flowers Sundry Expenses Zoomlfjoo8le Archdiocese Service Charge & Ground Rent Property Management Council Tax Total Resources Expended 6.936 7.236 4.215 6.674 7,828 2,250 5,511 19,421 500 3,750 23.978 1,523 1.837 374 32.292 4.69) 15.577 6,482 533 1.260 502 901 247 Net Movement on Funds Funds at 1st January 2024 Funds 31st (>ecember 2024 +46.953 1,676.098 1.723.051 +166.459 There were no restricted funds during the year
The notes on pages 8 to 10 form part of these financkil statements Greek Orthodox Communlty of St George the Martyr Consolidated Balance Sheet as at 31 Oecember 2024 Unrestricted Funds 2024 Unrestricted Funds 2023 Notes Fixed Assets Tangible Assets 1.738.294 1,396,260 Current Assets Stocks Debtors & Prepayments Cash at the Bank and in Hand 10.960 5,576 I,825 15,765 5,959 261,808 117.361 283,532 Creditors: Amounts falling due within one year Accruals 3,419 1,194 2,500 3,419 3,694 Totsl Assets Less Current Uabiliti Bank Loan 129,185 Funds ReseNes Totsl Reserves 1.723,051 1,723,051 1,676.098 1,676,098 Signed on behalf of the managing committee March 2025
The notes on pages 8 to 10 fomi part of these financial statements Greek Orthodox Cornmunity of St George the Martyr Notes tothe Accounts for the year ended 31" December 2024 l. Accounting Policies The financial statements have been prepared in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice to charities preparing their accounts in accordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102- Charities SORP IFRS 1021 (effective l January 20151-the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts from preVu$ years. Fixed Assets Fixed assets are recorded at cost or. in cases where fixed assets have been donated to Greek Orthodox Community of St George the Martyr. at valuation at the time of acquisi(ion. Depreciation Depreciation has been provided at the following rates in order to write down the cost or valuation, less estimated residual value. of all tangible fixed assets. which the exception of freehold land, by equal annual instalments on a reducing balance methrAf over their estimated useful lives. Freehold Properties Fixtures and Fittings Icons 15% perannum Nil Voluntary income and fundraising expenditure Voluntary income represents amounts received and recorded at offices and projerts during the year. Extept in the case of charty shops and fundraising events such as fetes and galas, no costs of fundraising have been netted against voluntary income. Fundraising expenditure represents the direct (t$ of fundraising. Contributions These comprise of amounts receivable dvring the year. Investment income Investment income is recognised in the accounts when ri is received. Value Added Tax As the majortty of the Greek Orthodox Community of St George the Martyrfs activi(ies are classified a5 exernpt or non-business activttie5 for the purposes of Value Added Tax. Greek Orthodox Community of St GeorBe the Martyr is unable to reclaim all the Value Added Tax. which is suffers on its purchases. Expenditure in these financial statements is therefore shown inclusive of Value Added Tax.
Greek Orthodox Cornmunity of St George the Martyr Notes to the Accounts- Cont. forthe year ended 31" December 2024 Sttxks Stocks are stated at the lower of cost and net realisable value. Taxation No provision has been made for corporation tax or deferred tax as the charitable company is registered charity and is therefore exempt. 2. Trustee director and employeeg 2024 2023 Staff costs, including priesvs remuneration were as follows: Priests Remuneration Teaching Staff Others- Cleaner 32,884 56.450 4,285 33,087 48,748 6,516 3. Taxation All of the charitws income is applied for charitsble purposes and therefore the charity is exempt from corporation tax. 4. Tanglble Flxed Assets Freehold Land and Building5 Fixtures and Fittings Motor Car Icons Total Cost as at I"January 2024 Additions 1.295.886 349.273 264.809 9225 38,OChJ 1,607,920 349,273 Depreciation blfwd l Jan 2024 Charge for Year 209.815 5,763 1.845 1,476 211,660 7,239 Net Book Value at 31 December2024 at 31" December 2023 1,295,886 54.994 7380 38,0Tr) 1,396,260
Greek Orthodox Communlty of St George the Martyr Notes to the Accounts- Cont. for the year ended 31 December 2024 S. Stocks 2024 2023 Candles, Calendars etc. Food Bank 2,260 8.702 2,510 13.255 10,962 15,765 6. Debtors 2024 2023 Insurance Prepayment Sundry 5.576 5.959 5,576 5,959 7. Creditors: Amounts falling due within one year 2024 2023 Other Creditors Accruals 3.419 1,194 2,500 3.419 3,694