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2020-12-31-accounts

Registered Charity Number: 289313

St. Mary's Greek Orthodox Cathedral Report and Accounts

31 December 2020

Mr. Michalakis Andreou Ttofi Chartered Certified Accountant Bsc Hons (Econ) FCCA 264 High Street Beckenham Kent BR3 1DZ

St. Mary's Greek Orthodox Cathedral

Report and accounts

Contents

Page
Charity information 1
Trustees' Report 2 to 7
Independent Examiner's' report 8 to 9
Statement of Financial Activities 10
Income and Expenditure account 11
Statement of recognised gains and losses 11
Movements in Accumulated Funds 12
Balance sheet 13
Notes to the accounts 14 to 18
Detailed Statement of Financial Activities 19 to 21
Analysis of Total Incoming & Outgoing Resources by Activity 22
Analysis of Total Support Costs by Activity 23
Analysis of charitable expenditure by activity 24
Analysis of grants made by activity 24

St. Mary's Greek Orthodox Cathedral Charity Information

Trustees

His Eminence Archibishop Nikitas Loulias of Thyateira and Great Britain Mr. Mikis Tsielepis Mr. Nicos Christophis Mr. Andrew Michael Fouli Mr Andreas Apostolos Dometakis

Principal address

305 Camberwell New Road Camberwell London SE5 0TF

Reporting accountant

Mr. Michalakis Andreou Ttofi

264 High Street Beckenham Kent BR3 1DZ

Bankers

Cynergy Bank

87 Chase Lane London N14 5WH

Solicitors

Nicholas & Co Solicitors

18 Wigmore Street London W1

Registered office

305 Camberwell New Road, London SE5 0TF

Registered number

289313

1

St. Mary's Greek Orthodox Cathedral

The report of the trustees for the year ended 31 December 2020

Introduction

The trustees present their annual report and accounts for the year ended 31 December 2020.

The board of trustees are satisfied with the performance of the charity during the year and the position at 31 December 2020 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

Name, registered office and constitution of the charity

The full name of the charity is St. Mary's Greek Orthodox Cathedral.

The legal registration details are :-

Date of formation: 03 April 1984 The Principal Office is: 305 Camberwell New Road, London SE5 0TF Charity Registration Number: 289313 The telephone number is: 0207 703 0137

Objectives and Activities of the Charity

A summary of the objects of the charity as set out in its governing document

The main objectives of the charity are as follows:

- Furtherance of the Greek Orthodox faith by carrying regular religious services in accordance with guidance provided by the Archidise of Great Britain.

- Ai Myrophorai (comprising a group of ladies) run social gatherings to raise money to assist the less fortunate in the community and to provide financial assistance for the up-keep of the church.

The charity's aims including the changes or differences it seeks to make through its activities.

-The charity's aims through its existence are to ensure the Greek Orthodox faith will continue in the community and followers will have a local church where they can worship regularly.

-Through its existence over many years it has encouraged the local Greek and Cypriot communities to have their children learn the Greek language and obtain a GCSE or an 'A' Level as part of their qualifications. By providing an approriate school the charity hopes to continue the tradition of educating future generations the Greek language, culture and history. - By having the on site hall the trustees hope that members of the local Greek and Cypriot communities will make use of it by hiring it for various functions such as a weddings, christenings and dinner and dances which are part of the Greek and Cypriot cultures.

2

St. Mary's Greek Orthodox Cathedral

The report of the trustees for the year ended 31 December 2020

An explanation of the charity's main objectives for the year.

The charity's objectives for the year were as follows:

Achievements and Performance of the Charity

A review of charitable activities undertaken by the charity

The trustees have reviewed the charity's activities and decided that more needs to be done to make improvements. As a result a managing committee has been set set up to enhance the activities and improve the administration and day to day running of the charity. Book keeping is carried out by volunteers.

Fundraising activities

The charity relies on the collections from the services provided in the church to fund its outgoings. It organises an annual Dinner and Dance; and relies on the income from the hire of the Great Hall. In addition receives rent the new flat flats and Xenonas. Various other activities are organised by Ai Myrophorai such as tea parties and feasts which raise money for the up-keep of the church and assist the fortunate in the community.

Investment performance achieved against investment objectives set

In the financial review section of this report there is a description of the investment policies and objectives established by the trustees and the extent to which social environmental or ethical considerations are taken into account.

The investment performance achieved against the objectives set was satisfactory.

Factors relevant to the achievement of the charity's objectives

The main factors in achieving the charity's main objects are the regular religious services and the operation of the Greek school.

Summary of the main achievements of the charity during the year

The charity has :-

3

St. Mary's Greek Orthodox Cathedral

The report of the trustees for the year ended 31 December 2020

Structure, Governance and Management

Nature of the Governing Document and constitution of the charity

The governing document of the charity is the charity's trust deed which set out the objectives of the charity.

The methods adopted for the recruitment and appointment of new trustees

All trustees must be approved by a uninimous decision from existing trustess in a trustees meeting.

The organisational structure of the charity and how decisions are made.

The trustees delegate authority to the priest to run the church services. A committee of 13 volunteers is set up to meet on a regular basis to make decisions regarding the various needs which must be made in connection with the running of the church, the school and the Great Hall and the general up keep of the premises. All decisions are carried by a majority vote.

The major risks to which the charity is exposed and reviews and systems to mitigate risks

The charity relies on the income from the great hall to finance its main objects. There is always a risk that the hall will not be hired and that may put a strain on the finances of the charity.

The trustees together with the committee of volunteers are responsible for ensuring the great hall is regularly hired, thereby reducing the risk of causing financial problems.

Financial Review

Policies on reserves

The charity has not set minimum reserves. Its policy is to raise sufficient money to meet its financial

Principal funding sources and how expenditure in the year under review has supported the key objectives of the charity.

The main sources of finance are from the hire of the great hall and from religious services' collections and sale of candles. The funds raised after deducting direct costs are used to pay the wages of the bishop and other staff such as teachers and support staff and to pay for administration costs.

The investment policy and objectives, including the extent (if any) to which social, environmental or ethical considerations are taken into account.

As a small charity the trustees have not invested any of the charity's funds in any risky investments.

Transactions and Financial position

4

St. Mary's Greek Orthodox Cathedral

The report of the trustees for the year ended 31 December 2020

The financial statements are set out on pages 10 to 24. The financial statements have been prepared implementing the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (effective April 2005) and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities show net outgoings resources for the year of a revenue nature of £9,279 and net realised incoming resources of a capital nature of £nil making net overall realised outgoing resources of £9,279.

The total reserves at the year end after accounting for unrealised losses stand at £1,119,967 .

The majority of the expenditure is spent on management and administration .

Specific changes in fixed assets

Give details, for example :-

Changes in fixed assets are shown in detail in the notes to the accounts.

There have been no fixed assets movements in the year in question. In the previous year, there were additions for building improvements of £2,000 and acquisition of Plant, furniture and equipment in the sum of £21,600 .

Plans for Future Periods

The trustees of the charity are confident that by continuing to hold regular religious services they will continue to attract members of the community to attend. With this in mind they believe that the charity will achieve its objectives in the future.

The name of the Chief Executive Officer and other senior staff member(s) to whom day to day management of the charity is delegated by the charity trustees.

Mr. Andrew Fouli was the chairman of the charity and had ultimate responsibility for the day to day running of the charity. Mr. Andrew Fouli is assisted by a team of volunteers.

The members of the Board of Trustees of the Charity during the year ended 31 December 2020 were :-

His Eminence Archibishop Nikitas Loulias of Thyateira and Great Britain Mr. Nicos Christophis Mr. Mikis Tsielepis Mr. Andreas Apostolos Dometakis Mr. Andrew Michael Fouli

The members of the Board of Trustees of the Charity at the date the report and

5

St. Mary's Greek Orthodox Cathedral

The report of the trustees for the year ended 31 December 2020

- accounts were approved were:

His Eminence Archibishop Gregorios of Thyateira and Great Britain Mr. Nicos Christophis Mr. Mikis Tsielepis Mr.Andreas Apostolos Dometakis Mr. Andrew Michael Fouli

Bankers

The charity's bankers are Cynergy Bank.

Solicitors

The charity's solicitors are Nicholas & Co of 18 Wigmore Street, London W1.

Independent Examiner

Mr. Michalakis Andreou Ttofi

Chartered Certified Accountant Bsc Hons (Econ) FCCA 264 High Street Beckenham Kent BR3 1DZ

Statement of Trustees' Responsibilities

Charity Law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

_________ Mr. Andrew Fouli Trustee

6

St. Mary's Greek Orthodox Cathedral Independent Examiner's Report

Report of the Independent Examiner to the trustees

on the accounts of the Charity for the year ended 31 December 2020

I report on the financial statements of the Charity on pages 7 to 24 which have been prepared in accordance with the Charities Act 1993 and with the Financial Reporting Standard for Smaller Entities (FRSSE), effective January 2005, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005, adapted to meet the needs of unincorporated organisations, under the historical cost convention and the accounting policies set out on pages 14 to 15 .

Respective responsibilities of trustees and examiner

As described on page 7 , the Charity's trustees are responsible for the preparation of the financial statements. The trustees consider that the audit requirement of Section 43(2) of the Charities Act 1993 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. It is my responsibility to state , on the basis of the procedures specified in the General Directions given by the Charity Commissioners for England & Wales under Section 43(7)(b) of the Act, whether particular matters have come to my attention.

Basis of opinion and scope of work undertaken

I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination. An independent examination includes a detailed review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements with those records. It also includes consideration of any unusual items or disclosures in the financial statements , and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the Statement of Recommended Practice issued by the Charity Commissioners for England & Wales (effective April 2005), on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity.

We planned and performed our examination so as to satisfy ourselves that the objectives of the independent examination are achieved and before finalising the report we obtain written assurances from the trustees of all material matters.

7

St. Mary's Greek Orthodox Cathedral Independent Examiner's Report

Independent Examiner's Statement, report and opinion

Subject to the limitations upon the scope of my work as detailed above, in connection with my examination, no matter has come to my attention :

1) which gives me 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 financial statements which accord with the accounting records and to comply with the accounting requirements of the Act or of the Charities (Accounts and Reports) Regulations 2005 have not been met or

2) to which, in my opinion , attention should be drawn to enable a proper understanding of the accounts to be reached.

This report is in respect of an examination carried out under section 43 of the 1993 Act and in accordance with any directions given by the Commissioners under subsection (7)(b) of that section which are applicable.

Mr. Michalakis Andreou Ttofi

Chartered Certified Accountant Bsc Hons (Econ) FCCA

264 High Street Beckenham Kent BR3 1DZ

The date upon which my opinion is expressed is :-

24 February 2023

8

St. Mary's Greek Orthodox Cathedral Statement of Financial Activities for the year ended 31 December 2020

Incoming resources
Incoming resources from generated funds
Voluntary Income
Activities for generating funds
Investment Income
Incoming resources from charitable activities
Total incoming resources
Costs of generating funds
Costs of generating voluntary income
Fundraising trading - costs of goods and other costs
Costs of charitable activities
Governance costs
Other resources expended
Total resources expended
Net outgoing resources
before transfers between funds
Gross transfers between funds
Net outgoing resources before
Other recognised gains and losses
Other recognised gains and losses
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total Funds carried forward		 Notes Un restrict
116,337
10,072
126,409
175,017
4,933
-
4,933
8,436
1,545
-
1,545
1,000
85,712
26,056
111,768
113,140
66,004
-
66,004
64,399
2,138
-
2,138
2,101
160,332
26,056
186,388
189,076
(43,995)
(15,984)
(59,979)
(14,059)
-
-
-
-
(43,995)
(15,984)
(59,979)
(14,059)
-
-
-
-
(43,995)
(15,984)
(59,979)
(14,059)
1,141,850
(12,606)
1,129,244
1,143,303
1,097,855
(28,590)
1,069,265
1,129,244

The net movement in funds referred to above is the net incoming resources as defined in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission for England & Wales and is reconciled to the total funds as shown in the Balance Sheet on page 13 as required by the said statement.

All activities derive from continuing operations

The notes on pages 14 to 21 form an integral part of these accounts.

9

St. Mary's Greek Orthodox Cathedral Statement of Financial Activities for the year ended 31 December 2020

Turnover
Direct costs of turnover
Gross surplus
Governance costs
Operating deficit
Interest receivable
Interest payable
Deficit on ordinary activities before tax
Deficit for the financial year
Gift Aid Payments
Retained deficit for the financial year		 2020
2019
£
£
126,158
174,643
118,246
122,576
7,912
52,067
66,004
64,399
(58,092)
(12,332)
251
374
(2,138)
(2,101)
(59,979)
(14,059)
(59,979)
(14,059)
-
-
(59,979)
(14,059)
Income and Expenditure Account
for the year ended 31 December 2020		 2020
2019
£
£
126,158
174,643
118,246
122,576
7,912
52,067
66,004
64,399
(58,092)
(12,332)
251
374
(2,138)
(2,101)
(59,979)
(14,059)
(59,979)
(14,059)
-
-
(59,979)
(14,059)
Income and Expenditure Account
for the year ended 31 December 2020		 2020
2019
£
£
126,158
174,643
118,246
122,576
7,912
52,067
66,004
64,399
(58,092)
(12,332)
251
374
(2,138)
(2,101)
(59,979)
(14,059)
(59,979)
(14,059)
-
-
(59,979)
(14,059)
Income and Expenditure Account
for the year ended 31 December 2020
2020
£
126,158
118,246
7,912
66,004
(58,092)
251
(2,138)
(59,979)
(59,979)
-
(59,979)
52,067
64,399
(12,332)
374
(2,101)
(14,059)
(14,059)
-
(14,059)

All activities derive from continuing operations

Excess of Expenditure over income befor
Loss per Profit and Loss account
Grants for the acquisition of fixed assets
Net Movement in funds before taxatio		 2020
2019
£
£
e realisation of assets
(59,979)
(14,059)
(59,979)
(14,059)
-
-
n
(59,979)
(14,059)
Statement of Total Recognised Gains and Losses
for the year ended 31 December 2020		 2020
2019
£
£
e realisation of assets
(59,979)
(14,059)
(59,979)
(14,059)
-
-
n
(59,979)
(14,059)
Statement of Total Recognised Gains and Losses
for the year ended 31 December 2020		 2020
2019
£
£
e realisation of assets
(59,979)
(14,059)
(59,979)
(14,059)
-
-
n
(59,979)
(14,059)
Statement of Total Recognised Gains and Losses
for the year ended 31 December 2020
e realis
n
ation of assets
(59,979)
(14,059)
-
-
(59,979)
(14,059)

10

St. Mary's Greek Orthodox Cathedral Statement of Financial Activities for the year ended 31 December 2020

The notes on pages 14 to 21 form an integral part of these accounts.

Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Revenue accumulated funds
Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
Accumulated funds brought forward
1,141,850
(12,606)
1,129,244
Recognised gains and losses before transfers
(43,995)
(15,984)
(59,979)
1,097,855
(28,590)
1,069,265
Closing revenue accumulated funds
1,097,855
(28,590)
1,069,265
The notes on pages 14 to 21 form an integral part of these accounts.
Movements in revenue and capital funds
for the year ended 31 December 2020		 Last year
Total Funds
2019
£
1,143,303
(14,059)

for the year
Unrest
 rict
 ed
20
ds
20
£
1,097,855 (28,590)
1,069,265		 1,129,244
1,097,855 (28,590)
1,069,265		 1,129,244
c counts.

Summary of funds

Summary of funds
Revenue accumulated funds Designated Unrestricted
Funds
2020
£
1,097,855		 Restricted
Total
Funds
Funds
2020
2020
£
£
(28,590)
1,069,265		 Last Year
Total Funds
2019
£
1,129,244
Fu nds
2020
£
-

The statement of changes in resources applied for fixed assets for Charity use is shown in the notes to the accounts.

The notes on pages 14 to 21 form an integral part of these accounts.

11

St. Mary's Greek Orthodox Cathedral Balance Sheet

as at 31 December 2020

Notes 2020 2019
£ £
The assets and liabilities of the charity :
Fixed assets
Tangible assets 11 1,196,361 1,204,490
Total fixed assets 1,196,361 1,204,490
Current assets
Debtors 12 - -
Cash at bank and in hand 14,154 30,548
Total current assets 14,154 30,548
Creditors:-
amounts due within one year 13 (81,726) (90,944)
Net current liabilities (67,572) (60,396)
Total assets less current liabilities 1,128,789 1,144,094
Creditors:-
amounts due after more than one year (8,822) (14,850)
Provisions for liabilities and charges - -
Net assets including pension asset / liability £1,119,967 £1,129,244
The funds of the charity :
Unrestricted income funds
Unrestricted revenue accumulated funds 1,135,951 1,141,850
Designated revenue funds - -
Unrestricted capital funds
Designated fixed asset funds - -
Total unrestricted funds 1,135,951 1,141,850
Restricted income funds
Restricted revenue accumulated funds (15,984) (12,606)
Restricted capital funds
Total restricted funds (15,984) (12,606)
Total charity funds £1,119,967 £1,129,244

Mr. Andrew Fouli Approved by the trustees on 24 February 2023

The notes on pages 14 to 21 form an integral part of these accounts.

12

St. Mary's Greek Orthodox Cathedral Notes to the Accounts

for the year ended 31 December 2020

1 Accounting policies

Basis of preparation of the accounts

The financial statements have been prepared in accordance with all applicable accounting standards, as modified by the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005. The accounts have been drawn up in accordance with the provisions of the Charities Act.

The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.

The particular accounting policies adopted are set out below.

Accounting convention

The financial statements are prepared,on a going concern basis, under the historical cost convention.

Incoming Resources

Incoming resources are accounted for on a receivable basis.

Investment Income

Rental income is included in the income and expenditure account net of collection charges on a receivable basis.

Bank Interest received is included on an actual receipts basis.

Recognition of liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and Reporting (effective April 2005) issued by the Charity Commissioners for England & Wales.

Resources Expended

The policy for including items within the relevant activity categories of resources expended is to include items in the period they are incurred. In particular the policy for including items within costs of generating funds, charitable activities and governance costs are as follows:

Costs of generating funds, charitable activities and governance costs

Costs of generating funds are recognised in the period expended including VAT which is not recoverable.

Allocation of costs within types of resources expended

The methods and principles for the allocation and apportionment of all costs between the different activity categories of resources set out above are :-

Expenditure is identified and matched to each type of resource it is allocated accordingly.

13

St. Mary's Greek Orthodox Cathedral Notes to the Accounts for the year ended 31 December 2020

Investment property

Charities are exempt from the full provisions of SSAP19. The trusteees have agreed that the freehold property is kept at the historical cost and not be revalued on a best estimate basis by them on an annual basis or by engaging a professional as they do not see any purpose other that incurring an uneccessary cost. No depreciation is provided on the investment property.

The trustees are of the opinion the freehold has a higher value than cost, since the buildings are regulary maintained.

Fixed assets and depreciation

All tangible fixed assets, except freehold land and buildings, are stated at cost less depreciation. Freehold land and buildings are stated at cost.

Items of less than £100 are not capitalised.

Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value ) over their estimated useful economic lives.

2 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

3 Deficit for the financial year
2020
2019
£
£
This is stated after crediting :-
Revenue Turnover from ordinary activities
126,158
174,643
and after charging:-
Depreciation of owned fixed assets
8,129
7,461
Independent Examiner's Fees
4,973
3,695

Funds belonging to the charity have been used for the purchase of insurance to protect the charity from loss arising from the neglect or defaults of its trustees,employees or agents, or to indemnify its trustees,employees or agents, against the consequences of any neglect or default on their part. The sum expended on such insurance was as indicated in the above schedule.

4 Statement that no expenses were paid to trustees or connected persons

No expenses were paid to trustees or persons connected with them.

14

St. Mary's Greek Orthodox Cathedral Notes to the Accounts

for the year ended 31 December 2020

5 Detailed analysis of certain transactions required by the 2005 revision to the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (effective April 2005)

Various items which are required by the 2005 revision to the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (effective April 2005) to be disclosed in the notes to the accounts are set out in the Detailed Schedule to the Statement of Financial Activities and its appendices on pages 19 to 24 , which should be read together with these notes.

6
7		 Investment Income
Bank interest received from settlements pending
Analysis of support costs		 2020
£
251		 2019
£
374
An analysis of support costs by activity is included in the detailed schedule to the Statement of
Financial Activities and shown in Appendix 2 (page 23).

8 Analysis of charitable expenditure

An analysis of charitable expenditure by activity is included in the detailed schedule to the Statement of Financial Activities and is shown in Appendix 3 - Page 24.

9 Analysis of grants payable in furtherance of the charity's objects

An analysis of grants by activity is included in the detailed schedule to the Statement of Financial Activities and is shown in Appendix 4 - page 24.

**10 ** Staff Costs and Emoluments
Gross Salaries
Employer's National Insurance
Numbers of full time employees or full time equivalents
Engaged on charitable activities		 2020
£
97,892
5,711
103,922
2020
3		 2019
£
99,622
6,021
106,041
2019
6

There were no fees or other remuneration paid to the trustees. There were no employees with emoluments in excess of £60,000 per annum.

No trustees or persons connected with them, received any remuneration during the year or the previous year.

15

St. Mary's Greek Orthodox Cathedral Notes to the Accounts

for the year ended 31 December 2020

11 Tangible functional fixed assets

Freehold
Land and
buildings
£
Asset cost, valuation or revalued amount
At 1 January 2020
1,123,997
Additions
-
At 31 December 2020
1,123,997
Accumulated depreciation and impairment provisions
At 1 January 2020
-
Depreciation on revaluation
-
Charge for the year
-
At 31 December 2020
-
Net book value
At 31 December 2020
1,123,997
At 31 December 2019
1,123,997		 Plant,
Machinery
& Vehicles
£
191,177
-
191,177
110,684
-
8,129
118,813
72,364
80,493		 Total
£
1,315,174
-		 Total
1,315,174
110,684
-
8,129

At 1 January 2020
Depreciation on revaluation
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
118,813
1,196,361
1,204,490
All assets are used for direct charitable purposes and there are no inalienable or heritage assets.

All assets are used for direct charitable purposes and there are no inalienable or heritage assets

12
13
**14 **		 Debtors
2020
£
Prepaid expenses
-
No amounts were due after more than one year included in the debtors above.
Creditors: amounts falling due within one year
2020
£
Bank loans and overdrafts
30,000
Accrued expenses
17,209
PAYE and NI
29,117
81,726
Analysis of the Net Movement in Funds
2020
£
Net movement in funds from Statement of Financial Activities
(59,979)
Net resources applied on functional fixed assets
-
Net movement in funds available for future activities
(59,979)		 Debtors
2020
£
Prepaid expenses
-
No amounts were due after more than one year included in the debtors above.
Creditors: amounts falling due within one year
2020
£
Bank loans and overdrafts
30,000
Accrued expenses
17,209
PAYE and NI
29,117
81,726
Analysis of the Net Movement in Funds
2020
£
Net movement in funds from Statement of Financial Activities
(59,979)
Net resources applied on functional fixed assets
-
Net movement in funds available for future activities
(59,979)		 2019
£
-
2019
£
48,766
23,929
12,849
90,944
2019
£
(14,059)
(23,600)
(59,979) (37,659)

16

for the year ended 31 December 2020

St. Mary's Greek Orthodox Cathedral Notes to the Accounts

**15 ** Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing Particulars of Individual Funds and analysis of assets and liabilities representing funds
Total
Funds
£
1,196,361
14,154
(81,726)

At 31 December 2020
Tangible Fixed Assets
Current Assets
Current Liabilities
At 1 January 2020
Tangible Fixed Assets
Current Assets
Current Liabilities
Unrestricted
funds
£
1,196,361
30,138
(81,726)
1,135,951
£
Unrestricted
funds
£
1,204,490
30,548
(90,944)
1,141,850
Designated
funds
£
-
-
-
-
£
Designated
funds
£
-
-
-
-
Restricted
funds
£
-
(15,984)
-
(15,984)
£
Restricted
funds
£
-
-
-
(12,606)
1,119,967
£
Total
Funds
£
1,204,490
30,548
(90,944)
1,129,244

The individual funds included above are :-

Funds at Movements Transfers Funds at
2019 in Between 2020
Funds funds
as below
£ £ £ £
Unrestricted funds 1,129,246 (59,979) 1,069,267
1,129,244 (59,979) - 1,119,967
Analysis of movements in funds as shown in the table above
Incoming Outgoing Gains & Movement
Resources Resources Losses in funds
£ £ £ £
Urestricted fund 126,409 186,388 - (59,979)
126,409 186,388 - (59,979)

16 Endowment Funds

The charity had no endowment funds in the year ended 31st December 2020 or in the previous year.

17

St. Mary's Greek Orthodox Cathedral Schedule to the Statement of Financial Activities for the year ended 31 December 2020

Status of this schedule to the Statement of Financial Activities

The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005.

As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2005.

Incoming Resources
Incoming Resources from generated funds
Voluntary Income
Grants, legacies and donations
Non government and non public bodies
Incoming resources of a revenue nature
Donations received
Total
Total Grants,Legacies & Donations Received
Total Voluntary Income
Activities for generating funds
Fundraising activities
Shop income from sale of donated and bought in goods
Temporary letting and licensing of charitable property
Collections and services
Total of activities for generating funds
Investment Income
Bank interest received from settlements pending
Total Investment Income
Incoming resources from charitable activities
School fees
Total Incoming resources from
charitable activities
Total Incoming Resources
Costs of generating funds
Support costs for generating voluntary income
Hall costs
School exepenses
Candles cost
Services costs
Diner and Dance		 2020
2019
£
£
Unrestricted
Restricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2020
2020
2020
2019
£
£
£
£
14,744
-
14,744
2,128		 2020
2019
£
£
Unrestricted
Restricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2020
2020
2020
2019
£
£
£
£
14,744
-
14,744
2,128
Fun
14,744
-
14,744
2,128
14,744
-
14,744
2,128
14,744
-
14,744
2,128
14,825
-
14,825
19,302
4,867
-
4,867
14,352
75,592
-
75,592
119,435
6,058
-
6,058
12,496
101,342
-
101,342
165,585
251
-
251
374
251
-
251
374
10,072
10,072
6,930
-
10,072
10,072
6,930
116,337
10,072
126,409
175,017
£
£
£
£
905
-
905
4,438
-
-
-
262
4,028
-
4,028
3,736
-
-
-
-
-
-
-
-
4,933
-
4,933
8,436

18

St. Mary's Greek Orthodox Cathedral Schedule to the Statement of Financial Activities for the year ended 31 December 2020

Total costs of generating voluntary income
Fundraising Trading
Fundraising Trading: Support costs
Ladies Auxiliary functions
Total Fundraising Trading costs		 4,933
-
4,933
8,436
1,545
-
1,545
1,000
1,545
-
1,545
1,000
Charitable expenditure
Support costs of charitable activities
Gross wages and salaries - charitable activities
71,836
26,056
97,892
99,622
Employers' NI - Charitable activities
5,392
-
5,392
5,623
Depreciation of assets used for charitable purposes
8,129
-
8,129
7,461
Donations paid
36
-
36
36
85,712
26,056
111,768
113,140
Governance costs that are not direct management functions inherent in generating funds,
service delivery and programme or project work (including management and administration costs)
Specific governance costs
Independent Examiner's Fees
4,973
-
4,973
3,695
Management and administration costs
Employee costs:
Training and welfare
100
-
100
0
Motor expenses
0
-
0
-
Premises Costs
-
-
-
225
Rent payable
16,640
-
16,640
16,640
Rates, water and service charges
201
-
201
156
Insurance
15,043
-
15,043
16,618
Light and heat
13,912
-
13,912
11,494
Cleaning
1,698
-
1,698
2,573
Premises repairs and renewals
11,633
-
11,633
10,528
Security costs
-
-
-
-
General administrative expenses:
Telephone and fax
1,245
-
1,245
1,228
Postage
-
-
-
-
Stationery and printing
-
-
-
694
Information and publications
535
-
535
218
Subscriptions
-
-
-
-
Bank charges
24
-
24
175
Travel and subsistence
-
-
-
-
Sundry expenses
-
-
-
155
Less Governance costs reallocated to specific activities
Costs of generating voluntary income
-
-
-
-
Fundraising Trading: Cost of goods sold etc
-
-
-
-
Investment management costs
-
-
-
-
Support costs for charitable activities
-
-
-
-
Support costs for grants
-
-
-
-
Total governance costs after reallocation
66,004
-
66,004
64,399
Other resources expended
£
£
£
£
Interest payable
2,138
-
2,138
2,101
Total Other Resources Expended
2,138
-
2,138
2,101		 71,836
26,056
97,892
99,622
5,392
-
5,392
5,623
8,129
-
8,129
7,461
36
-
36
36
85,712
26,056
111,768
113,140

Specific governance costs
Independent Examiner's Fees
Management and administration costs
Employee costs:
Training and welfare
Motor expenses
Premises Costs
Rent payable
Rates, water and service charges
Insurance
Light and heat
Cleaning
Premises repairs and renewals
Security costs
General administrative expenses:
Telephone and fax
Postage
Stationery and printing
Information and publications
Subscriptions
Bank charges
Travel and subsistence
Sundry expenses
Less Governance costs reallocated to specific activities
Costs of generating voluntary income
Fundraising Trading: Cost of goods sold etc
Investment management costs
Support costs for charitable activities
Support costs for grants
Total governance costs after reallocation
Other resources expended
Interest payable
Total Other Resources Expended
66,004
-
66,004
64,399
£
£
£
£
2,138
-
2,138
2,101
2,138
-
2,138
2,101

19

St. Mary's Greek Orthodox Cathedral Schedule to the Statement of Financial Activities for the year ended 31 December 2020

----- Start of picture text -----
Schedule of investment income
Funds Funds Funds Period
Total
2020 2020 2020 2019
£ £ £ £
Bank interest received from settlements pending, held
as part of the investment portfolio
Bank interest received 251 - 251 374
251 - 251 374
----- End of picture text -----

T he transfer from the unrestricted fund was necessary to fund the school expenses since there was insufficient income to meet the expenditure incurred during the year.

Appendices to the Statement of Financial Activities

for the year ended 31 December 2020

The following appendices are attached to detail the activity analysis required by the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005.

1. Analysis of Total Incoming & Outgoing Resources by Activity

2. Analysis of Total Support Costs by Activity

3. Analysis of charitable expenditure by activity

4. Analysis of grants made by activity

20

St. Mary's Greek Orthodox Cathedral

Appendix 1

Analysis of Total Incoming & Outgoing Resources by Activity for the year ended 31 December 2020

Incoming resources from generated funds
Voluntary Income
Activities for generating funds
Investment Income
Incoming resources from charitable activities
Other Incoming Resources
Total Incoming Resources
Costs of generating funds
Costs of generating voluntary income
Fundraising trading - costs of goods and other costs
Investment management costs
Costs of charitable activities
Governance costs
Other resources expended
Total resources expended
Net Incoming Resources by activity		 Fundraising
£
-
101,342
-
-		 Other
School
Activities
Fees
£
£
14,744
-
-
-
-
-
10,072
-
-
-		 2020
2019
Total
Total
Interest
£
£
£
-
14,744
2,128
-
101,342
165,585
251
251
374
-
10,072
6,930
-
-
-
101,342 24,816
-		 251
126,409
175,017
4,933
1,545
-
85,712
66,004
-		 -
-
-
-
-
-
-
26,056
-
-
-
-		 -
4,933
8,436
-
1,545
1,000
-
-
-
-
111,768
113,140
-
66,004
64,399
2,138
2,138
2,101
158,194 -
26,056		 2,138
186,388
189,076
(56,852) 24,816
(26,056)		 (1,887)
(59,979)
(14,059)

22

St. Mary's Greek Orthodox Cathedral

Appendix 2

Nature of support costs
Management
Finance
Information Technology
Human Resources
Total support costs analysed by activity
The above amounts are shown in the accounts		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020		 2020
2019
Other
School
Interest
Total
Total
Fundraising
Activities
Fees
£
£
£
£
£
£
4,933
9,710
26,056
-
40,699
16,671
-
-
-
-
-
-
-
-
-
-
-
-
-
77,228
-
-
77,228
105,507
4,933
86,938
26,056
-
117,927
122,178
2020
2019
£
£
as
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Analysis of Total Support Costs by Activity
for the year ended 31 December 2020
as
for
the year ended
Fundraising
£
4,933
-
-
-
4,933 86,938
26,056
-
117,927
122,178
2020
2019
£
£
4,933
8,436
1,545
1,000
111,768
113,140
-
-
118,246
122,576
Support costs for generating voluntary income
Support costs for fundraising trading
Support costs for charitable activities
Support costs for grants paid

The basis of allocation of costs and the methods used are described in note 1 to the accounts

23

St. Mary's Greek Orthodox Cathedral

Appendix 3

Analysis of charitable expenditure by activity for the year ended 31 December 2020

Nature of charitable expenditure
Actvities undertaken directly
Support costs of charitable activities
Total charitable expenditure analysed by activity		 Fundraising
£
77,264
8,129		 Other
School
Activities
Fees
£
£
26,056		 Interest
£
-
-		 2020
2019
Total
Total
£
£
103,320
105,281
8,129
7,461
85,393 -
26,056		 - 111,449
112,742

An explanation of the main features of charitable expenditure is given in note 1 to the accounts

Grants to individiduals
Grants to institutions
Total grants made analysed by activity		 Analysis of
for the year		 Analysis of Analysis of Analysis of Analysis of Interest
£
-
-		 2020
2019
Total
Total
£
£
-
-
-
-

the year
Fundraising
£
-
-
- -
-		 - -
-

An explanation of the main features of grants paid is given in note 1 to the accounts

24