REGISTERED CHARITY NUMBER: 294631 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR ST ELEFTHERIOS TRUST Freemans Partnership LLP Chartered Certified Accountants Solar House 282 Chase Road London N14 6NZ
ST ELEFTHEIUOS TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Page Report of tbe Trustees I to 3 Independent Examiner's Report Stsiement of Finaneial AetivfitSes Balanee Sheet Notes to the Financial Statements 7 to 12 DetaÉled Statement of Ffinllnelal Aetlvfitles 13 to 14
ST ELEFTHERIOS TRUST REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31 MARCH 2025 The trus'tees present their report the fll)ancial statements of the charity for the year ended 31 March 2025. The trte¢S have adopted the provisions of Accounting and Reporting by ClwitL¢S'. Statement of Recommended Practice applicable to charities prepar]ng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019). OBJECTIVES AND ACTtVlTIES Objective5 and aims The objective and aitns of the charity are: To pre8erve and propagate the Christian Ortbodox faith and trdditions as wntatned in tbe Holy Scriptttres, as practised ill the life of the Church, as confimed by the Ecumenical and local toullcils ond as inierpret¢d, preserved amd taught by the Gr¢at Church of Christ. the Ecumenical Patiiarehate of Constantinople. To preserve the origillal laTLguage of the New Testsment in Divine Worship and in (be E¢clesiastical lif¢ of the faitbful, and to minister to the people through canonical services conducted according to the order of the Great Church of Constantinople by callonical priest, and through s¢rnions. To receive into the OrtId0X Christian faith. by Bapttsm or Charisnlltic. all those freely decide and sincerely desire to adopt the Onhodox Christian faith. and to liye in accordance with its spiritual and moral teaching. To uodertake charitable WOTk for the benefit of those need protection, assistance and medical Care, to make grants to organisations (including schools and chatitiesl, to prode services {in¢luding carelcoutL$elling). The ctwitys significani acttvities are the adrnini$tering of the assets of the Charity, including the church and its contents. Public benefit The Tte¢S ¢onfirnJ that they have complied with their duty to have regard to the guidance on publEC benefit published by the Charity Commissii>n tn exercising their function. Volunteers All Trustees perform their duties on a voluntary basis except for the presiding priest who is provided with a salary and the w ofthe vt¢arage as accommodation. ACHIEVEMENTS AND PERFORMANCE Donatlons Durll the year the charity made charitable donations of £2,300 {2024.. £600). Tbe donatiOS during the year were to Greek Orthodox Ar¢hdiocese of Thte1ra & Greal BTitain. The results for the fmallcial year of the charity are showi in the annexed fuwKial stat¢ments. The truste¢$ are pleased witb the overdll perforn]ance. FANC REvw Review of Charity's fiD*nclal posltlon The results of the charity are set out on Page 5-11. The Charity increJse41 its reserv&8 by £84,90212024: £105.364). the Trustees are pleased with the results. The Trustee5 ar¢ ¢onsistently tying to increase reserves through promotion of the Church and the Chrisiian Faith and are ever mindful of reducing expellses. Rewrves policy The TnteeS have considered the reserves policy. The income generated by all assets. together 7th the income from collections and donations. is actively monitored to allow sufficient reserves to fund the comn]ilments of the Clwity. Page I
ST ELEFTUERIOS TRUST REPORT OF THE TRUSTEES FOR THE YEAR EF4DED 31 MARCH 2025 FirruRE PLANS The Tru8t¢es aims are: A To promote the Christian Orthodox faith B To attrdct younger members of the comtnunity. C To get]eraie resources to be able to provide support and guidance to the cornrnunity STRUCTURE, GOVERNANCE AND LIWIAGEMEI¥T Govtrlling document The chartty is controlled by its governing documelll a deed of trnst and consiitutes an unincoTporaied charity. RecrllitmeDt and appolDtment of llew trustees The twsiees of the clMrÉty must be mernbers of the Community. All members are eligible to stand for electio Fiye applicants are appointed by voting and approved by .8 Eminence the Archbishop of Thydteird and Great Britain in ¢onsultaiion witb the parish priest. The Trustees will serve a tenll of o years ulltil re-election. The TnteeS are familiar with the practical work of the charity. Organlsatlonl strlleture The c11ty is governed by its Trnsiees under the guidance and wisdom of his Eminence the Archbishop of Thydteird and Great Britsin. The Board meets regularly during the year to administer the affairs of the chariiy. The Board elect a ChairD]all and a TreasuTer to cany out day-io-day fimctions. The priest by virtue of his canoni¢al ordination admini5ter5 the priestly duties which CODSiSt in shepherding the Parish entrusted to his care, directing its orderly life, preserving its unity and keeping it faithfi to its divine purpose. The Board nY appoint volunt¢¢r sU¢0MMIttee$ to develop, admiillsr and pronwte ftmd raising, religious fe8tivpl$ and chan'table caws. Induction and trainillg of new trustees All Trustees are briefed on iheir legal obligation5 ullder charity and conjpany law. the content of the deed of tr]sL the ¢ommittee and decisioD kill8 processes, the proje¢tions and rent fuwicial perforn)ance of the GIrity. At the first board meeting the Trnstees eleci the Chair and Treasur¢r. The Chair co-ordinates 811 the chpritys activities including meetings, fimctions, fid raising cOMltte£S and liaises with the priest and stsff. The Treasurer D]aintaiDs the financial Tecords, managemeni reports, budg¢ting and the preparation of fitwJcia] Stateellts. The Trustees maintain the milluies and correspondence. The Tnltts are on a rota for chuwh 8¢rvices, candle sales, collections and fitnd Ttiising. Wider nehvork The Charity ig under the auspi¢es of the Greek Arc]Kliocese of Thte1ra and Great Britain. REFERENCE AI¥D ADMINISTRATIVE DETAILS Regfistered Charity [ber 294631 Prlnelpal address 113 Ruckholt Road Ltyton tnndon EIO 5Nr Page 2
ST ELEFTHERIOS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Trnstee5 Archbishop Nikiias of Thyateira Archbishop Mt J Chitnonas Treasurer Mr G Solomonides Chairnrati Dr M Pelridou Mr A Gkoutzinis MrA Karageorghis Independent Examlller Fotis Toumazos Freemans Partnership LLP Chartcrcd Ccrtified Accountants Solar House 282 Chase Road London N146NZ Bankers Barclays Bank PIC Ilford High Road Ilford Group Approved cr of thc E&)ard of trustees on 14 January 2026 and signed on its b¢half by.. MrG nid¢s- Tntee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ELEFTHERIOS TRUST IndepeDdent ex4mlner's report to the trusttts of St Eleftherlos Trnst J r¢port to the charity ttUSt¢e8 on my axamili0rt of the accounts of St Elcftherios Trust (the TNst} for the year ended 31 March 2025. Respollslbllltie5 and basis of report As the charity twstees of the Trust you are resp)nsible for the prepaTation of the accoullts in accoydance with the requirements of the Charitie5 Act 2011 ('the Act'l. I report in respect of my examination of the Truses a¢counts canied out und Section 145 of the Act and in carrying out my ¢xaminaiion I have followed all applicable Direction5 given by the Charity Commission under Section 145{5)(b) of the Act. Independent examiner's Statement I have completed my cxamination. I conf]rni that no material matters have come to my attention in Connection with the exa[nitiOn giving me Cause to believe that in any material respect.. accounting records were not kept in respect of th¢ Trust as required by Secth"on 130 of the Act; or the accounts do not accord th0 records; or the accounts do not comply with the applicable requirements Concerning the fomi and contcnt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremeni that the accounts give a u¢ and fair view which is not a tEVdtt¢r nSIdered as part of an independent examination. I have no concerns and have Come across no otheT rnattet5 in comiection with the exalnination lo which attention should drawn in this reson in order to enable a proper understanding of the accounts to be reache(L Fotis Toumazos Freemans Partnership LLP Chartered Certified A¢countsnts Solar Ilouse 282 Chase Road Londo N146NZ 14 January 2026 Page 4
ST ELEFfHERIOS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE I%AR ENDED 31 MARCH 2025 31.3.25 Unrt5tricted fund 31.3.24 Total fimds Notes INCOME AND ENDOWMENTS FROM Donation5 and lega¢ies 92,497 123.941 tnv¢stment income 79,405 43,5(X) Total 171,902 167,441 EXPENDITURE ON Raising funds 24,606 ,909 Charitable *etivltles Managing and Administering Chan"ty 61,881 59,739 Other 513 429 Total 87,000 62,077 NET INCOME 84,902 105.364 RECONCILIATION OF FUNDS Total fimds brought fonvard 5611,989 455,625 TOTAL FUNDS CARRIED FORWARD 645,891 560,989 The notes forni part of thes¢ financial statements Page 5
ST ELEFfHERIOS TRUST BALANCE SHEET 31 MARCH 2025 31.3.25 UDrestrlcted fund 31.3.24 Totsl fidS Notes FIXED ASSETS Tangible assets 619,972 618.565 CURRENT ASSETS Debtors Cash at bkmk 433 153,484 1,427 91,495 153,917 92,922 CREDITORS Amow)ts failing due within one year (15898) (20,OIM)I NET CiJRRENT ASSETS 138,419 72,922 TOTAL ASSETS LE&S CiJRRENT LIABILITIES 758J91 691,487 CREDITORS Amounts falling du¢ aft¢r rnore than one year (112500) {130.498) NET ASSETS 645,891 560,989 FUNDS Unrestricted funds 645,891 560,989 TOTAL FUM)S 645,891 560,989 The financial s- sigm¢d on it. en were approved by the Board of Trustees and authorised for issue on 14 Jattuary 2026 ond were alfb nid - Trnste¢ MrJ Chimonas- Trustce The notes forni part of these financial siatements Page 6
ST ELEFfHEIUOS TRUST NOTES TO THE FIFI'ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basls of prepirlng tbe finaDeial statement8 The financial sthtemenis Of the clwity, which is a public benefit entity under FRS 102, have been prepared in accordance 7th the Charities SORP IFRS 102) 'Accounting and Reporting by Cjwities: Statement of Recommended Practice applicable to charities preparing their a¢¢ounLs in accordance with the Finaticial Reporting Standard applicable in the UK and Republic of Jreland {FRS 1021 (effective l January 2019),, Finat)cial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK alld Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cogt ¢ODv¢ntion. Income All income is recognised in the Statement of Financial Activities once tbe charity Ims entitlement to the funds, it is probable that the in¢om¢ will be received and the atllouut can b¢ measwed reliably. Expendfiture Liabilities are iwognised as expendftture as soon as there is a legal or constructive obligation committing the charity to that expendicure. it is prnbable that a transfer of econojnic benefits will be required in settlement and e amount of the obligation Can be measured reliably. Expenditure is accounted for on an ac¢Tuals basis and tMS' been classified und¢r headings that aggregate all cost relaied to the category. Where costs cannot be direcdy attribut¢d to particular headings they have been allocated to activities on a b&qis consistent with the use of resources. Allocation and apportlonment of costs Costs are allocated as general operating expenses unless they are in regard to specEfic a¢tivitie5 generation in¢orn¢, in which case they are then allocated according to wific Cost type. Tanglble fixed #ysets Depreciation is provided at the following annual rates in order to write off ea¢h asset over its estimated usefvl Fixtures and fittings Computer ¢quipmeni 25 /o reducing balance 25 % on reducing balance The Freehold Properties have not been depreciated, as tbe long terni objective is to use this propertie5 within the clwitys mainstreajn activity, and hence tbey are stated at cost and not treaied as an investment properties. The trustees consider that this departure from the requirement in SORP 21K>5 to depre¢iated fixed assets is necessary to show a true alld fair view. The trustees cary out an annual review of tangibl¢ fLx¢d assets and impairment. It is their opinion that there has been no change in value during the current year. Freehold Church The Freehold Cburch acts as the spiritual and community centTe for all members of the SLEleftherios Tnjst. The Freehold Church is rewrted in the Balance Sheet at ¢osi and is noc depreciated Thxstlon The ¢haTity is exempt from on its chtiritable activiti&s. Fund aceountiDg Unrestricted fimds can be used in accordance with the ¢haritable objectives at the discretion of the tnjstees. Hlre purehast and 1¢45iDg commitments Rentals paid under operaiing leases are charged to the Statement of Financial Activities on a Straight line basis over the perilxl of the lease. Page 7 continued...
ST ELEFTHERIOS TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2025 INVESTMENT INCOME 31.3.25 Unrestricted fund5 31.3.24 Total funds Rents received 79,405 43,500 IL41SING FUNDS Investment management COSt5 31J.25 Unrestrieted fuDds 31.3.24 Totsl fimds Licen¢es Professional fees Ageni fees Property repairs Inventory ¢0Sts 1.050 1787 4,087 16.466 216 924 985 24,600 1,909 TRUSTEES, REMUNERATIOF4 AND BENEFrrs There were no trustees, remuneration or other bellefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses Th¢r¢ w¢r¢ no trnstees, expenses paid for the year ended 31 March 2025 nor for tbe year ended 31 Mareh 2024. STAFF COSTS The average monthly number of employees during th¢ yeaT was as follows: 31.3.25 31.3.24 Priest No employees received ¢tnolumellts in excess of £60.000. Page 8 Continued...
ST ELEFTHEIUOS TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 TAL¥GIBLE FIXED ASSETS FiKtwes and fittings Freehold property Computer equipment Totsls COST At l April 2024 Additions 6J7,825 1,639 1,592 700 620.164 lJ92 At 31 Morth 2025 617025 3,231 700 621,756 DEPRECIATION At l April 2024 Charge for year 1,120 130 479 55 1,599 185 At 31 March 2025 1.250 534 1,784 NET BOOK VALUE At 31 March 2025 617,825 1,981 166 619,972 At 31 March 2024 617.825 519 221 618,565 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 So¢ial security 433 1.427 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trdde creditors Other creditors Pension control Aceruals and deferred ino)me 1,093 11.000 133 3,272 20,0(K) IS,498 20,000 Page 9 continued...
ST ELEFTHEIUOS TRUST NOTES TO THE FINANCIAL STATEMENTS- toDtinued FOR THE YEAR EIYDED 31 MARCH 21125 CREDITORS: AMOUF4TS FALLING DUE AFTER MORE THAN ONE YEAR 31J.25 31.3.24 Other loans (Ke note 10) 112,500 130,498 10. LOANS An atlySiS of the matUTity of loans is given below.. 31.3.25 31.3.24 Amounts falIing due in more than five years.. Repayable by instalments.. Other loan5 tnore 5)TS iDstsI J12,500 130.498 ii. MOVEMENT JN FUNDS Net movement in fvnds At 31.3.25 At 1.4.24 Unrestrleted funds General 560,989 84,902 645,891 TOTAL FUNDS 560,989 84,902 645,891 N¢t movement in fi5, included in the above are as follows.. Resources expended Movement iti fill$ resources Ullrestricted fund5 Gellerdl fid 171,902 (87,000) 84,902 TOTAL FUNDS 171,902 (87.1100) 84,902 Comparatives for movement in funds Net movement in fvnds At 31.3.24 Ai 1.4.23 Unrestricted funds General fvnd 455.625 105,364 560,989 TOTAL Fuf4DS 455,625 105,364 560,989 Page 10 continued...
ST ELEFTHEIUOS TRUST NOTES TO THE FINANCL4L STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 li. MOVEMEf4T IN FUNDS- continued Con]pardtsve net movement in fimds. included iti the above are &s follouF: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 167,441 (62,077) 105,364 TOTAL FUNDS 167,441 {62,0771 105,364 A current year 12 months and prior year 12 months combined position is as follows.. Net ovement in fimds At 31.3.25 At 1.4.23 Unrestrieted funds Generdl fi]nd 455,625 190,266 645,891 TOTAL FUNDS 455,625 190,266 645,891 A current year 12 molltbs and prior year 12 months combined Thet movement in fuTLds, included in tbe above are as follo$.. Incoming iesources Resources expended Movement in funds Unrestrleted funds Gellerdl fund 339,343 (149,077} 190.266 TOTAL FUNDS 339,343 (149,077) 190266 The total amount re¢eived during the year amoLmied ¢0 £171,902 {2024.. £167,441). Of this total. £90.920 (2024.. £123,881) was from Collections alld dollatiOll5, £79,405 12024.. £43,500) from rents received and £1,577 {2024.' £601 from bank interest. Page 11 continued...
ST ELEFTHEIUOS TRUST NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 12. RELATED PARTY DISCLOSURES Th¢re were no related paty transa¢tions for the year ended 31 Marcb 2025. Page 12
ST ELEFTHERIOS TRUST DETAILED STATEMENT OF FINANCIAL ACTivfTIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 3E.3.24 INCOME AND ENDOWMEf+lTS Dollations and lega¢ie8 Donatiolls Ex¢eptionaI itetns 90,920 1,577 123,881 92,497 123.941 Investment Income Rents received 79,405 43,500 Total Incoming resources 171,902 167,441 EXPETr4DITURE Investment manthgement eosts Licence5 Professional fees Agent fees Property repairs Inventory costs 1.050 2,787 4.087 16,466 210 924 985 24,606 1,909 CharRt#ble acdvltles Fixtures aud fittings Computer equipment 130 55 173 74 185 247 Other Pensions 513 429 Support Costs Management Wag¢s Rent and Rates Insurdn¢e Light alld h¢at Telephone Sundries Administrative expenses Donations ConsumleS 23J48 3,101 7.152 4228 444 240 17,197 2JOO 3,68 20,550 3.187 6,247 3.842 537 205 16,027 600 8,297 61,696 59,492 This page does not forni part of the ststutory f]nancial ststements Page 13
ST ELEFTHERIOS TRUST DETAILED STATEMENT OF FINANCLIL ACTivrfiES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 Total resources expended 87,000 62.077 Net income 84,902 105,364 Thi5 page does not forni part of the staiutory fllmncial statcments Page 14