**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.
Page 1
**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
Page 2
**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:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. 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
Page 3
**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
Page 4
**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
Page 5
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
Page 6
**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|
|---|---|---|
Page 7
**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.
Page 8
**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**|
|---|---|---|
Page 9
**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)**|
Page 10
**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
Page 11
**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
Page 12