REGISTERED COMPA1 IYUIVIBER: N1603281 (Northern Ireland) REGISTERED CHARrrY NUMBER: 103740 Report of the Trustees and Financial Statements for the Year Ended 31 May 2023 for St Ignatius Orthodox Church Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP
St Ignatlus Orthodox Church Contents of the Financial Statements for the Year Ended 31 May 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 11 Detailed Statement of Financial Activities 12
St Ign2tius Orthodox Church Report of the Trustees for the Year Ended 31 May 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AIYD ACTIVITIES Objectives and aims The church is established to.. (a) Promote the Orthodox Christian faith according to the rites and traditions of the one Holy Catholic Orthodox and Apostolic Church as expressed in the Holy Scriptures, the Holy Tradition, the teachings of the seven Ecumenical Councils and the Holy Fathers and as preserved and taught by the Greek-orthodox Patriarchate of Antioch. (b) Benefit the public in the United Kingdom and the Republic of Ireland and elsewhere by the relief of poverty, sickness and distress. This is provided through services such as: - Regular services of worship open to all members of the public. - Lectures, classes and other fonns of teaching. Social and cultural events, including a regular lunch after Sunday worship. Support of the poor and needy. Pastoral care for members of the church and others who seek it. - Providing counsel and support for the sick and for people in spiritual or material need. Providing baptism. marriage and burial services for members of all churches in communion with the Patriarchate of Antioch, e.g. Greek Orthodox, Russian Orthodox. STRUCTURE, GOVERNANCE AND MAIYAGEMENT Governing doeument The charity is controlled by its governing documen¢ a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1603281 (Northern Ireland) Registered Charity number 103740 Registered olTice Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Trustees Mr William Hunter Director Mr Carsten Lorenz Director Page I
St Ignatius Orthodox Church Report of the Trustees for the Year Ended 31 May 2023 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner M¢Cl¢ary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP Approved by order of the board of trustees on I l February 2024 and si]ed on its behalf by: Mr William Hunter - Trustee Page 2
Independent Examiner's Report to the Trustees of St Ignatius Orthodox Church I report on the accounts of the company for the year ended 31 May 2023, which are set out on pages four to eleven. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounts as required under Section 65 of the Charities Act and my examination w&s carried out in accordance with the general DiTection5 given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you &8 charity trustees concerning any such matters. My role is to state whether any material matters have Come to my attention giving me cause to believe: That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of th¢ Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further infonnation needed for a proper understanding of the accounts to be reached. Independent examiner's statement have completed my examination and have no concerns in respect of the matters ( l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Mccleary FCA Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co. Antrim BT28 ITP I l February 2024 Page 3
St Ignatius Orthodox Church Statement of Financial Activities for the Year Ended 31 May 2023 31.5.23 Unrestricted fund 31.5.22 Total funds Notes INCOME AND ENDOWIVIENfs FROM Donations and legacies 3,226 5,977 EXPENDITURE ON Charitable activities Direct costs Support costs 4,781 838 4,359 819 Total 5,619 5,178 NET INCOME/(EXPENDITURE) (2,393) 799 RECONCILIATION OF FUNDS Total funds brought forward 9,841 9,042 TOTAL FUNDS CARIUED FORWARD 7,448 9,841 The not¢s fonn part of these financial statements Page 4
St Ignatius Orthodox Church Balance Sheet 31 May 2023 31.5.23 Unrestricted fund 31.5.22 Total funds Notes FIXED ASSETS Tangible &%sets 70 93 CURRENT ASSETS Debtors Cash at bank 580 7,572 987 9,499 8,152 10,486 CREDfTORS Amounts falling due within one y¢ar (774) (738) NET CURRENT ASSETS 7,378 9,748 TOTAL ASSETS LESS CURRENT LIABILITIES 7,448 9,841 NET ASSETS 7,448 9,841 FUNDS Unrestricted funds 7,448 9,841 TOTAL FUNDS 7,448 9,841 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023. The members have not required the company to obtain an audit of its fman¢ial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company k¢ep5 accounting re¢oids that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company &$ at the end of each fmancial year and of its surplus or deficit for cach financial year in accordance with the requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to fin8mcial statements, so far &8 applicable to the charitable company. The notes forn] part of these financial statements Page 5 continued...
St Ignatius Orthodox Chureh Balance Sheet- continued 31 May 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on I l February 2024 and were signed on its behalf by: Mr William Hunter - Trustee Mr Carsten Lorenz- Trustee The notes forni part of these financial statements Page 6
St Ignatius Orthodox Church Notes to the Financial Statements for the Year Ended 31 May 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Actlvities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised Is expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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 bc 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 us¢ful life. Fixtures and fittings 250/0 on reducing balance Taxation The charity is exempt from corporation t&x on its charttable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted fLd5 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. Page 7 continued...
St Ignatius Orthodox Chureh Notes to the Financial Statements - continued for the Year Ended 31 May 2023 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after ChargIn(credItIng)= 31.5.23 31.5.22 Depreciation - owned assets 23 32 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 May 2023 nor for the year ended 31 May2022. COMPARATtVES FOR THE STATEIVIEIYT OF FINANCIAL ACTIVITIES Unrestricte fund INCOME AND EIYDOWMEIYTS FROM Donations and legacies 5,977 EXPElYDuRE ON Charitable activities Direct costs Support costs 4,359 819 Totsl 5,178 NET INCOME 799 RECONCILIATION OF FUIYDS Total funds brought forward 9,042 TOTAL FUNDS CARRIED FORWARD 9,841 Page 8 continued.-.
St Ignatius Orthodox Church Notes to the Financial Statements- continued for the Year Ended 31 May 2023 TANGIBLE FIXED ASSETS Fixtures and fittings COST At l June 2022 and 31 May 2023 2,662 DEPRECIATION At l June 2022 Charge for year 2,569 23 At 31 May 2023 2,592 NET BOOK VALUE At 31 May 2023 70 At 31 May 2022 93 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.5.23 31.5.22 Other debtors 580 987 CREDfTORS: AMOUNTS FALLING DUE WHIN ONE YEAR 31.5.23 31.5.22 Accrued expenses 774 738 MOVEMENT IN FUNDS Net movement in funds At 31.5.23 At 1.6.22 Unrestrieted funds General fund 9,841 (2,393) 7,448 TOTAL FUNDS 9,841 (2,393) 7,448 Page 9 continued...
St Ignatius Orthodox Church Notes to the Financial Statements - continued for the Year Ended 31 May 2023 MOVEMEIYT IN FUNDS - contlnued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 3,226 (5,619) (2,393) TOTAL FUNDS 3,226 (5,619) (2,393) Comparatives for movement in funds Net movement in funds At 31.5.22 At 1.6.21 Unrestricted funds General fund 9,042 799 9,841 TOTAL FUNDS 9,042 799 9,841 Comparative net movement in fijnds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 5,977 (5,178) 799 TOTAL FUNDS 5.977 (5,178) 799 A cuent year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.5.23 At 1.6.21 Unrestricted funds General fund 9,042 (1,594) 7,448 TOTAL FUNDS 9,042 (1,594) 7,448 Page 10 ontinued...
St Ignatius Orthodox Church Notes to the Financial Statements - continued for the Year Ended 31 May 2023 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in thc above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 9,203 (10,797) (1,594) TOTAL FUNDS 9,203 (10,797) (1,594) RELATED PARTY DISCLOSURES There wer¢ no related paty transactions for the year ended 31 May 2023. Pagell
St Ignatius Orthodox Church Detailed Statement of Financial Activities for the Year Ended 31 May 2023 31.5.23 31.5.22 INCOIVIE AND ENDOWIlNTs Donations and legacies Donations Gift aid 2,641 585 4,950 1,027 3,226 5,977 Totsl incoming resourees 3,226 5,977 EXPENDfTuRE Charitable activities Insurance Pastoral services Travel expenses Contributions to Deanery 393 3,296 1,092 386 2,973 1,000 4,781 4,359 Support costs Fillance Bank charges 41 49 Other Fixtures and fittings 23 32 Governance costs Accountancy and legal fees 774 738 Total resources expended 5,619 5,178 Net (expenditure)lincome (2,393) 799 This page does not fonn part of the statutory financial statements Page 12