**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. Page 1 **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 Page 2 **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: 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 10 December 2021 Page 3 **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 Page 4 **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| |---|---|---| Page 6 **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. Page 7 **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| Page 8 **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** Page 9 **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**| Page 10 **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 Page 11 **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 Page 12