REGISTERED CHARITY NUMBER: 0293042
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021 FOR
GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
LARKOS & PARTNERS 128 STOKE LANE WESTBURY ON TRYM BRISTOL BS9 3RJ
GREEK ORTHODOX COM. OF WESTON-SUPER-MARE
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 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
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
0293042
Principal address Grove Road Milton Weston-Super-Mare BS22 8HE
Trustees His Eminence Archbishop Nikitas Mr A. Kyriacou Mr C. Constantinou Mr C. Chrisostomou Mr K. Michael Mr V. K. Kimitri Mr G. S. Michael 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 the operations are within the Charities Commission legislation. They meet once a year and more often if required.
The Ladies Philanthropic Committee is elected to oversee the Charitable and Philanthropic activities of the charity.
The church committee undertakes all the day to day operations of the charity, including the church services, maintenance of the buildings, fund raising and recreation activities, overseeing the daily activities at the community centre and the children's education.
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 Christian Faith and the Greek language and culture in the area of Weston Super Mare and supporting the local community and other minority groups.
The principal sources of income for the charity are donations from the community members, collections during church services and from fund raising events and social functions.
The principal expenditure of the charity is the maintenance and upkeep of the church buildings and community centre, the provision of regular church services and the priest's salary and the support of the philanthropic and charitable activities.
ACHIEVEMENT AND PERFORMANCE Charitable activities
The trustees ensured that regular Sunday church services took place as well as on important church calendar dates. The aim is to keep these services and support charitable activities and causes in Weston Super Mare and environment.
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
Reserves policy
The trustees are satisfied with the financial position of the charity as at 31st March 2020 and the surplus generated in the year of £38,053 ( 2020 - £27,563 ) which is added to the reserves.
Approved by order of the board of trustees on 10 December 2021 and signed on its behalf by:
Mr A. Kyriacou Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
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
10 December 2021
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
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 | 95,839 | 72,511 | |
| Activities for Generating Funds | 2 | 1,836 | 14,264 |
| Investment Income | 3 | 4 | 10 |
| Incoming resources from charitable activities | |||
| General Activities | 1,721 | 489 | |
| Total Incoming Resources | 99,400 | 87,274 | |
| RESOURCES EXPENDED | |||
| Costs of generating funds | |||
| Costs of generating voluntary income | 4 | 33,279 | 24,205 |
| Fundraising and other costs | 6,688 | 16,229 | |
| Investment management costs | 5 | 1,338 | 2,333 |
| Charitable activities | |||
| General Activities | 16,182 | 14,359 | |
| Governance costs | 3,860 | 2,585 | |
| Total resources expended | 61,347 | 59,711 | |
| NET INCOMING RESOURCES | 38,053 | 27,563 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 533,156 | 505,593 | |
| TOTAL FUNDS CARRIED FORWARD | 571,209 | 533,156 |
The notes form part of these financial statements
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
BALANCE SHEET AT 31 MARCH 2021
| 31/3/21 | 31/3/20 | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Fund | |||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 8 | 480,739 | 488,771 |
| CURRENT ASSETS | |||
| Debtors | 9 | 10,141 | 11,079 |
| Cash at bank and in hand | 82,740 | 62,742 | |
| 92,881 | 73,821 | ||
| CREDITORS | |||
| Amounts falling due within one year | 10 | (2,411) | (384) |
| NET CURRENT ASSETS | 90,470 | 73,437 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 571,209 | 562,208 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 11 | - | (29,052) |
| NET ASSETS | 571,209 | 533,156 | |
| FUNDS | 12 | ||
| Unrestricted funds | 571,209 | 533,156 | |
| TOTAL FUNDS | 571,209 | 533,156 |
The financial statements were approved by the Board of Trustees on 10 December 2021 and were signed on its behalf by:
Mr C. Constantinou Trustee
Mr A. Kyriacou Trustee
The notes form part of these financial statements
Page 5
GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
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 each asset over its estimated useful life.
| Holy Icons and Elements | - 10% on reducing balance |
|---|---|
| Fixtures and Furnishings | - 15% on reducing balance |
| Community Centre Fixtures | - 15% on reducing balance |
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.
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 Deposit account interest 4. COSTS OF GENERATING VOLUNTARY INCOME Staff costs Support costs |
31/3/21 £ 1,836 31/3/21 £ 4 31/3/21 £ 25,025 8,254 33,279 |
31/3/20 £ 14,264 31/3/20 £ 10 31/3/20 £ 15,898 8,307 24,205 |
|---|---|---|
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
5. INVESTMENT MANAGEMENT COSTS
| 31/3/21 | 31/3/20 | |
|---|---|---|
| £ | £ | |
| Interest payable | 1,338 | 2,333 |
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 Teachers costs Other pension costs The average monthly number of employees during the year was as follows: Priest Teacher |
31/3/21 £ 24,574 - 451 25,025 31/3/21 1 1 2 |
31/3/20 £ 15,457 260 181 15,898 31/3/20 1 1 2 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
8. TANGIBLE FIXED ASSETS
| 8. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Freehold | Improvements | Holy Icons and | ||
| Property | to Property | Elements | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2020 and 31 March 2021 | 310,100 | 110,396 | 123,451 | |
| DEPRECIATION | ||||
| At 1 April 2020 | - | - | 79,278 | |
| Charge for year | - | - | 4,417 | |
| At 31 March 2021 | - | - | 83,695 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 310,100 | 110,396 | 39,756 | |
| At 31 March 2020 | 310,100 | 110,396 | 44,173 | |
| Community | ||||
| Fixtures and | Centre Fixtures | |||
| Furnishings | and Furnishings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2020 and 31 March 2021 | 56,165 | 31,823 | 631,935 | |
| DEPRECIATION | ||||
| At 1 April 2020 | 37,265 | 26,621 | 143,164 | |
| Charge for year | 2,835 | 780 | 8,032 | |
| At 31 March 2021 | 40,100 | 27,401 | 151,196 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 16,065 | 4,422 | 480,739 | |
| At 31 March 2020 | 18,900 | 5,202 | 488,771 | |
| 9. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31/3/21 | 31/3/20 | |||
| £ | £ | |||
| Trade debtors | 9,858 | 10,433 | ||
| Other debtors | 283 | 646 | ||
| 10,141 | 11,079 | |||
| 10. | CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31/3/21 | 31/3/20 | |||
| £ | £ | |||
| Trade creditors | 2,411 | 384 |
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31/3/21 | 31/3/20 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans | - | 29,052 | |
| Amounts falling due in more than five years: | |||
| Repayable by instalments: | |||
| Bank Loans | - | 29,052 | |
| MOVEMENT IN FUNDS | |||
| Net movement | |||
| At 1.4.20 | in funds | At 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 533,156 | 38,053 | 571,209 |
| TOTAL FUNDS | 533,156 | 38,053 | 571,209 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,400 | (61,347) | 38,053 |
| TOTAL FUNDS | 99,400 | (61,347) | 38,053 |
| Comparatives for movement in funds | |||
| Net movement | |||
| At 1.4.19 | in funds | At 31.3.20 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 505,593 | 27,563 | 533,156 |
| TOTAL FUNDS | 505,593 | 27,563 | 533,156 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 87,274 | (59,711) | 27,563 |
| TOTAL FUNDS | 87,274 | (59,711) | 27,563 |
12. MOVEMENT IN FUNDS
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GREEK ORTHODOX COM. OF WESTON-SUPER-MARE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement | |||
|---|---|---|---|
| At 1.4.19 | in funds | At 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 505,593 | 65,616 | 571,209 |
| TOTAL FUNDS | 505,593 | 65,616 | 571,209 |
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 | 186,674 | (121,058) | 65,616 |
| TOTAL FUNDS | 186,674 | (121,058) | 65,616 |
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOMING RESOURCES Voluntary income Donations Subscriptions Sunday Collection and Services Covid Grants Activities for generating funds Fundraising Events Investment income Deposit Account Interest Incoming resources Employers Allowance Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Wages Teachers Salaries and Expenses Pensions Fundraising and other costs Fund Raising Costs Travel and Carriage Costs Candles and Incense Archdiocese of Thyateira Repairs and Maintenance Cleaning and Consumables Flowers and Garden Keep Investment management costs Bank Charges and Interest Bank Loan Interest Charitable activities Rates and Water Insurance Light and Heat Carried Forward |
31/3/21 £ 59,856 2,340 944 32,699 95,839 1,836 4 1,721 99,400 24,574 - 451 25,025 538 120 178 500 4,719 248 385 6,688 281 1,057 1,338 2,333 5,138 4,041 11,512 |
31/3/20 £ 67,203 2,290 3,018 - 72,511 14,264 10 489 87,274 15,457 260 181 15,898 996 266 280 1,620 10,121 824 2,122 16,229 679 1,654 2,333 2,730 5,104 4,720 12,554 |
|---|---|---|
This page does not form part of the statutory financial statements
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GREEK ORTHODOX COMMUNITY OF WESTON-SUPER-MARE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Charitable activities Brought forward Donations Governance costs Legal and Professional Fees Support costs Management Telephone Books, Postage and stationery Sundries Licences and Subscriptions Other Depreciation Total resources expended Net Income |
31/3/21 £ 11,512 2,600 14,112 3,860 1,732 129 93 338 2,292 8,032 61,347 38,053 |
31/3/20 £ 12,554 1,070 13,624 2,585 692 189 172 462 1,515 7,527 59,711 27,563 |
|---|---|---|
This page does not form part of the statutory financial statements
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