2020-12-31-accounts - Antiochian Orthodox Society Of Britain

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ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

COMPANY NUMBER 02155292

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Members of the board and professional advisers Trustees annual report Accountants' report to the members Income and Expenditure Account Balance Sheet Notes to the financial statements	Pages
	1 2 - 3 4 5 6 7-10

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

The Board of Members Dr S. Hraiki, Chairman Mr W. Khoury, Vice Chairman Mr S. Abdel-Nour, Secretary (Dec'd 17/08/2020) Mr J. Tabbal, Treasurer Dr S. Carouba Mr E. Chammas Mr N. Coutya Mr G. El-Kassir Mr G. Haddad Mr S. Haddad Mr R. Hasbani (Appointed Secretary 28/08/2020) Mr. W. Haykal (Resigned 17/01/2020) Mr C. Karam

Company Secretary Mr R. Hasbani Accountants Chris Hopkins Park Accounts Ltd 1, Approach Road Raynes Park London SW20 8BA Bankers Lloyds TSB Bank Plc. 3 St George’s Road Wimbledon London Charity Number 801540

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.

LEGAL STATUS

The company is limited by guarantee. The company and its activities are governed by its memorandum and article of association.

OBJECTIVES OF THE CHARITY

The society is a charitable organisation with the objective of advancing the Christian faith of the Antiochian Orthodox Church.

THE TRUSTEES

The trustees who served the charity during the period were as follows:

Dr S. Hraiki, Chairman Mr W. Khoury, Vice Chairman Mr S. Abdel-Nour, Secretary (Dec'd 17/08/2020) Mr J. Tabbal, Treasurer Dr S. Carouba Mr E. Chammas Mr N. Coutya Mr G. El-Kassir Mr G Haddad Mr S. Haddad Mr R. Hasbani (Appointed Sectretary 28/08/2020) Mr. W. Haykal (Resigned 17/01/2020) Mr C. Karam

The Council of Management have no interest in the shares of the company.

TRUSTEES RESPONSIBILITIES

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity at the end of the year and of the incoming and outgoing resources for the year end.

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

In preparing these financial statements, the trustees are required to select suitable accounting polices and then apply them consistently, making judgments and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statement comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularity.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions for small companies under Parts 15 & 16 of the Companies Act 2006.

Signed by the order of the trustees

………………………………… Mr R. Hasbani Company secretary

Approved by the trustees on

…..……………………….2021

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

ACCOUNTANTS' REPORT TO THE MEMBERS

FOR THE YEAR ENDED 31 DECEMBER 2020

We report on the unaudited accounts for the year ended 31 December 2020 set out on pages 5 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE REPORTING ACCOUNTANTS

As described on page 7 the trustees of the charity are responsible for the preparation of the accounts, and they consider that the charity is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

BASIS OF OPINION

Our work was conducted in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquires of the officers of the charity as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.

OPINION

In our opinion:

a) The accounts are in agreement with those accounting records kept by the charity under section 386 of the Companies Act 2006;
b) Having regard only to, and on the basis of, the information contained in those accounting records:
i.

The accounts have been drawn up in a manner consistent with the accounting requirements specified in section 393 of the Act; and

ii.

The charity satisfied the conditions for exemption from an audit of the accounts for the year specified in section 476 of the Act as modified by section 477 and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemptions specified in section 476.

PARK ACCOUNTS

1 Approach Road ............................... Raynes Park London SW20 8BA. ……………………………… 14 May 2021

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

STATEMENT OF FINANCIAL ACTIVITES

FOR THE YEAR ENDED 31 DECEMBER 2020

Note INCOMING RESOURCES Donations Received by Subscription Interest Income Monies Received Ad Hoc 2 Monies Received Annual Dinner Monies Received Miscellaneous Events / Projects Other Revenue TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds: Direct Expenses Annual Dinner 4 Charitable Expenditure: Costs in furtherance of charitable objects 5 Management and administration 6 TOTAL RESOURCES EXPENDED 8 NET INCOMING (OUTGOING) RESOURCES FOR THE YEAR Balances brought forward Balances carried forward	2020 (£) 17,526.00 0.75 58,001.88 - - 3,609.48 79,138.11 - 104,449.56 3,636.60 108,086.16 28,948.05 - 766,442.31 737,494.26	2019 (£) 24,784 - 36,463 142,328 5,638 - 209,213 33,440 112,187 4,982 150,609 58,604 707,838 766,442

The charity has no recognised gains and losses in 2020 other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The Notes on pages 7 to 10 form part of these financial statements.

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

BALANCE SHEET AS AT 31 DECEMBER 2020

Note TANGIBLE FIXED ASSETS 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand LESS CREDITORS: Amounts falling due within one year 12 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Brought Forward Net Incoming (Outgoing) Resources for the Year	2020 (£) - - 747,295.92 747,295.92 9,801.66 737,494.26 737,494.26 766,442.31 28,948.05 - 737,494.26	2019 (£) - 5,395 781,181 786,576 20,134 766,442 766,442 707,838 58,604 766,442

The Trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 relating to the audit of the financial statements for the year by virtue of section 476, and that no member or members have requested an audit pursuant to section 477 of the Act.

The trustees acknowledge their responsibilities for:

ensuring that the charity keeps proper accounting records which comply with section 386 of the Act, and

b) preparing financial statements 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 its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.

These financial statements have been prepared in accordance with the special provisions for small companies under Parts 15 & 16 of the Companies Act 2006.

Approved by the members of the Council on…………………….2021 and signed on its behalf

......................................... J. Tabbal

The Notes on pages 7 to 10 form part of these financial statements.

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 ACCOUNTING POLICIES

Basis of Accounting - The financial statements are prepared under the historical cost convention.

Cash Flow Statement - The charity is entitled to the exemptions available in Sections 476 and 477 of the Companies Act 2006 as a small company and therefore is excepted from Financial Reporting Standard No 2.

Depreciation - Depreciation is provided using the following rate to reduce by annual instalments the cost of the tangible assets over their estimated useful lives:-

Fixture and fittings: Iconostas:

20% per annum on a straight line basis evenly over the term of the Church lease.

2 ACTIVITIES

Donations Received by Subscription Interest Income Monies Received Ad Hoc Ad Hoc Donations Gift Aid Reclaimed Baptism Candle Proceeds Church Collections Consecrations Funeral Services Memorial Services Wedding Services Monies Received Annual Dinner Monies Received Projects / Events Ladies Activities Youth Activities Other Revenue Monies Received Ad Hoc Gift Aid Reclaimed Donations Received by Subscription	2020 17,526.00 0.75 39,540.00 274.58 2,200.00 2,610.20 6,532.10 1,260.00 2,685.00 1,140.00 - 1,760.00 - - 3,609.48 79,138.11	2019 8,700 - - - 750 7,208 18,112 2,145 2,700 1,700 1,955 142,328 5,552 86 - 191,236 1,893 16,084 209,213

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

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2020 2019
3 INTEREST RECEIVABLE
Bank Interest receivable 0.75 -
4 FUNDRAISING AND PUBLICITY
-
Direct Expenses Annual Dinner 33,440
5 COSTS IN FURTHERANCE OF CHARITABLE OBJECTS
Analysis of provision of charitable services:
2020 2019
Charitable Donations 7,886.08 6,943
Church Restoration Costs 2,476.00 -
-
Cleaning 5,793.00
Direct Expenses 1,572.88 5,678
Direct Expenses Archdiocese Subsidy 25,500.00 30,000
-
Direct Expenses Priest Residence 2,135.63
Direct Expenses School Subsidy 755.00 4,205
-
Direct Wages 1,250.00
General Expenses 1,446.24 1,740
Gifts 350.00 -
Insurance 7,136.12 6,744
Light, Power, Heating 3,576.06 3,983
Pastor Stipend 15,600.00 15,600
Payroll Costs 12,626.01 12,627
Rates 143.35 126
Refreshments 387.87 -
Rent 10,000.00 10,000
Repairs and Maintenance 5,815.32 14,093
Travel - 448
104,449.56 112,187
6 MANAGEMENT AND ADMINISTRATION
2020 2019
Accountancy fees 1,440.00 997
Bank Charges 155.00 -
IT Software and Consumables 440.00 -
-
Legal and Professional Expenses 2,558
Printing, Posting and Stationery 1,105.87 1,071
Telephone and Internet 495.73 356
3,636.60 4,982
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ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

7 TAXATION

HM Inspector of Taxes have advised the company that exemption under Section 505 (1)(C) TA 1988 has been authorised with effect from 17 August 1987 but is subject to the continuing requirement of Section 505. No tax has been provided for in the accounts.

8 TOTAL RESOURCES EXPENDED Direct Charitable expenditure Fundraising and publicity Management and administration 9 OPERATING DEFICIT/SURPLUS Operation loss/profit is stated after charging: Depreciation	2020 104,449.56 - 3,636.60 108,086.16 2020 -	2019 112,187 33,440 4,982 150,609 2019 -

ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

10 TANGIBLE FIXED ASSETS

Fixtures & Fittings At Cost Additions less: Depreciation Net book value at 31/12/2019 11 DEBTORS Other debtors Prepayments 12 CREDITORS: Amounts falling due within one year Other Creditors Accruals	2020 Total 77,454.00 - 77,454.00 - 2020 - - - 8,361.66 1,440.00 9,801.66	2019 Total 77,454 - 77,454 - 2019 4,850 545 5,395 14,583 5,551 20,134