## **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
1
## **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.
2
## **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
3
## **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
4
## **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.
5
## **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:
a)
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.
6
## **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|
|---|---|---|
7
## **ANTIOCHIAN ORTHODOX SOCIETY OF BRITAIN**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
**----- Start of picture text -----**
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
**----- End of picture text -----**
8
## **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
-|
|---|---|---|
9
## **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|
|---|---|---|
10