REGISTERED CHARITY NUMBER: 0279079
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR GREEK ORTHODOX COMMUNITY OF BRISTOL
LARKOS & PARTNERS 128 STOKE LANE WESTBURY ON TRYM BRISTOL BS9 3RJ
GREEK ORTHODOX COMMUNITY OF BRISTOL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
GREEK ORTHODOX COMMUNITY OF BRISTOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
0279079
Principal address 128 Stoke Lane Westbury-on-Trym Bristol BS9 3RJ Trustees His Eminence Archbishop Nikitas Mr N. Nicolaou Dr I. Ieropoulos Mrs M. Savvas Mr M. J. Michael Mr H. Stamboulieh
Independent examiner LARKOS & PARTNERS 128 STOKE LANE WESTBURY ON TRYM BRISTOL BS9 3RJ
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Organisational structure
The Trustees are responsible for managing and protecting the Charity and its assets, ensuring that all operations are withing the Charities Commission legislation. They meet at least once a year and more often as needed, liaising with the church council who manages the Trusts affairs on a daily basis and meets on the first Monday of every month.
The Ladies Philanthropic Committee, Ayia Tabitha, oversees the Philanthropic and Charitable activities of the Charity.
The Greek School Committee, oversees the smooth operation and activities of the school and organises cultural events for the benefit of the Greek Community of Bristol and the whole of Bristol and the area in an integral way.
The Church Committee or Church Council, is the main Committee with full responsibility to organise and oversee all activities within the Charity, education, church services, recreation, maintenance and safguard of all property of the Charity, cultural and social activities as well been the beacon of the Greek existance in this part of the country.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Charity are to promote the Greek Orthodox Faith and the Greek language and culture in the town and area of Bristol.
The principal source of income for the Charity are donations from the community members, rents from the Charity properties and the Community Hall, as well as collecting during church services or other fund raising community events and social functions.
The primary expenditure of the Charity is the maintenance and upkeep of the church, school and other Charity buildings, the employment of a priest and provision of regular church services on a weekly basis or more frequently when needed, the Greek school operation with the assistance from the Cypriot government and the support of the philanthropic and charitable activities within the Greek and the whole of Bristol community.
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GREEK ORTHODOX COMMUNITY OF BRISTOL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees ensured that regular church services took place right through the year. The Greek school has performed in an admirable way and achieved great results and progress, with the student numbers increasing to record levels.
The Charity proudly continues to offer the Library service, available to all concerned!
FINANCIAL REVIEW
Reserves policy
The Trustees are satisfied with the financial position of the Charity as at 31st March 2021 and the Deficit from operations to the level of (£7,554) ( 2020 Deficit (2,355)), which will be taken from the Reserves. The deficit was due to restrictions imposed from COVID 19 issues, which restricted the Charities normal activities.
Approved by order of the board of trustees on 12 December 2021 and signed on its behalf by:
Dr I. Ieropoulos Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREEK ORTHODOX COMMUNITY OF BRISTOL
We report on the accounts for the year ended 31 March 2021, which are set out on pages four to ten.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
We have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Our role is to state whether any material matters have come to our attention giving us cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
We have completed our examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission we have found no matters that require drawing to your attention.
LARKOS & PARTNERS
128 STOKE LANE WESTBURY ON TRYM BRISTOL BS9 3RJ
12 December 2021
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GREEK ORTHODOX COMMUNITY OF BRISTOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 31/3/21 | 31/3/20 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generated funds | |||
| Voluntary income | 72,620 | 115,030 | |
| Activities for generating funds | 2 | 439 | 6,205 |
| Investment income | 3 | 52,081 | 50,378 |
| Other incoming resources | 7,431 | - | |
| Total incoming resources | 132,571 | 171,613 | |
| RESOURCES EXPENDED | |||
| Costs of generating funds | |||
| Costs of generating voluntary income | 4 | 71,608 | 66,714 |
| Fundraising and other costs | 33,171 | 67,726 | |
| Investment management costs | 5 | 69 | 25 |
| Charitable activities | |||
| Charitable Activities | 35,277 | 39,503 | |
| Total resources expended | 140,125 | 173,968 | |
| NET INCOMING/(OUTGOING) RESOURCES | (7,554) | (2,355) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,082,303 | 1,084,658 | |
| TOTAL FUNDS CARRIED FORWARD | 1,074,749 | 1,082,303 |
The notes form part of these financial statements
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GREEK ORTHODOX COMMUNITY OF BRISTOL
BALANCE SHEET AT 31 MARCH 2021
| 31/3/21 | 31/3/20 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 8 | 952,621 | 956,298 |
| CURRENT ASSETS | |||
| Stocks | 9 | 6,076 | 6,076 |
| Debtors | 10 | 20,371 | 27,817 |
| Cash at bank and in hand | 96,089 | 95,287 | |
| 122,536 | 129,180 | ||
| CREDITORS | |||
| Amounts falling due within one year | 11 | (408) | (3,175) |
| NET CURRENT ASSETS | 122,128 | 126,005 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,074,749 | 1,082,303 | |
| NET ASSETS | 1,074,749 | 1,082,303 | |
| FUNDS | 12 | ||
| Unrestricted funds | 1,074,749 | 1,082,303 | |
| TOTAL FUNDS | 1,074,749 | 1,082,303 |
The notes form part of these financial statements
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continued...
GREEK ORTHODOX COMMUNITY OF BRISTOL
BALANCE SHEET - CONTINUED AT 31 MARCH 2021
The financial statements were approved by the Board of Trustees on 12 December 2021 and were signed on its behalf by:
Mr H. Stamboulieh Trustee
Mrs M. Savvas Trustee
The notes form part of these financial statements
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GREEK ORTHODOX COMMUNITY OF BRISTOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. ACTIVITIES FOR GENERATING FUNDS
| Fundraising events 3. INVESTMENT INCOME Rents received Deposit account interest |
31/3/21 £ 439 31/3/21 £ 52,056 25 52,081 |
31/3/20 £ 6,205 31/3/20 £ 50,167 211 50,378 |
|---|---|---|
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GREEK ORTHODOX COMMUNITY OF BRISTOL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
4. COSTS OF GENERATING VOLUNTARY INCOME
5.
| Staff costs Telephone Postage and stationery Support costs INVESTMENT MANAGEMENT COSTS Interest payable and similar charges |
31/3/21 £ 53,170 2,283 3,700 12,455 71,608 31/3/21 £ 69 |
31/3/20 £ 46,773 2,483 3,235 14,223 66,714 31/3/20 £ 25 |
|---|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Priest Teacher Cleaner |
31/3/21 £ 52,587 583 53,170 31/3/21 2 1 1 4 |
31/3/20 £ 46,773 - 46,773 31/3/20 1 1 1 3 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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GREEK ORTHODOX COMMUNITY OF BRISTOL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
8. TANGIBLE FIXED ASSETS
| Freehold property Improvements to property £ £ COST At 1 April 2020 488,793 198,067 Additions - - At 31 March 2021 488,793 198,067 DEPRECIATION At 1 April 2020 - - Charge for year - - At 31 March 2021 - - NET BOOK VALUE At 31 March 2021 488,793 198,067 At 31 March 2020 488,793 198,067 9. STOCKS Library Books 10. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 11. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 12. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Plant and machinery Fixtures and fittings £ £ 144,828 278,085 6,000 2,784 150,828 280,869 - 153,475 - 12,461 - 165,936 150,828 114,933 144,828 124,610 31/3/21 £ 6,076 31/3/21 £ 7,977 12,394 20,371 31/3/21 £ 408 At 1.4.20 Net movement in funds £ £ 1,082,303 (7,554) 1,082,303 (7,554) |
Totals £ 1,109,773 8,784 1,118,557 153,475 12,461 165,936 952,621 956,298 31/3/20 £ 6,076 31/3/20 £ 10,407 17,410 27,817 31/3/20 £ 3,175 At 31.3.21 £ 1,074,749 1,074,749 |
|---|---|---|
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GREEK ORTHODOX COMMUNITY OF BRISTOL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 132,571 | (140,125) | (7,554) |
| TOTAL FUNDS | 132,571 | (140,125) | (7,554) |
Comparatives for movement in funds
| Unrestricted Funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 Net movement in funds At 31.3.20 £ £ £ 1,084,658 (2,355) 1,082,303 1,084,658 (2,355) 1,082,303 Incoming resources Resources expended Movement in funds £ £ £ 171,613 (173,968) (2,355) 171,613 (173,968) (2,355) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 Net movement in funds £ £ 1,084,658 (9,909) 1,084,658 (9,909) |
At 31.3.21 £ 1,074,749 1,074,749 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 304,184 | (314,093) | (9,909) |
| TOTAL FUNDS | **304,184 ** | (314,093) | (9,909) |
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GREEK ORTHODOX COMMUNITY OF BRISTOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOMING RESOURCES Voluntary income Donations Subscriptions Sunday Collection and Services Activities for generating funds Fundraising events Investment income Rents received Deposit account interest Other incoming resources Covid Grants Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Wages Pensions Telephone Postage and stationery Fundraising trading: cost of goods sold and other costs Event Costs - Purchases Travelling Candles and Incense Archdiocese of Thyateira Repairs and Renewals Cleaning Flowers and Garden Keep Investment management costs Bank interest Charitable activities Rent Rates and water Insurance Carried forward |
31/3/21 £ 62,605 1,587 8,428 72,620 439 52,056 25 52,081 7,431 132,571 52,587 583 2,283 3,700 59,153 3,655 2,958 367 1,390 21,795 1,706 1,300 33,171 69 6,000 3,241 10,068 19,309 |
31/3/20 £ 94,607 1,881 18,542 115,030 6,205 50,167 211 50,378 - 171,613 46,773 - 2,483 3,235 52,491 11,359 4,875 432 3,710 42,924 3,937 489 67,726 25 - 4,099 13,193 17,292 |
|---|---|---|
This page does not form part of the statutory financial statements
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GREEK ORTHODOX COMMUNITY OF BRISTOL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Charitable activities Brought forward Light and heat Hospital Visits-Charitable Causes Sundries Donations Support costs Other Legal and Professional Fees Depreciation Total resources expended Net Expenditure |
31/3/21 £ 19,309 13,763 65 148 570 33,855 1,416 12,461 13,877 140,125 (7,554) |
31/3/20 £ 17,292 18,930 96 100 1,269 37,687 4,600 11,439 16,039 173,968 (2,355) |
|---|---|---|
This page does not form part of the statutory financial statements
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