Total funds brought forward 78,249 45,730 94,374 78,249 78,249 45,730 94,374 78,249 The notes on pages 10 to 19 form part of these financial statements ST LUKES'S GREEK ORTHODOX CHURCH BALANCE SHEET AS AT 31 DECEMBER 2024 page9 2024 2023 Note CURRENT ASSETS Debtors Cash at Bank and in hand Greek School Savings Account 10 3,504 47,942 55,433 22,366 55,883 106,879 85,580 CREDITORS. amounts falling due within one year 9.449 NET CURRENT ASSETS 106,879 85,580 NET ASSETS 106,879 78,249 CHARITY FUNDS Restricted Funds Unrestricted funds 12 12 49,742 57,137 59,626 45,730 TOTAL FUNDS 106,879 94,374 he financial statements were approved by the Community Board members on and signed on their behalf by: Mrs R Stakis-christie
lans for Future perlods FUTURE DEVELOPMENTS We Will continue our work to keep the Church building safe and water ti8ht by asse551118 urgent needs and doing repairs as required. Th-e neÈd for the Church 8uilding to rernain open and in good state of repair is becoming increasingly important, as there is a Very noticeable increase in the influx of Greek and Cypriot families to both Glasgow and Scotland. a dirert result of the financial and austerity measures. These families require support through the Cathedral and their children are helped to inte8rate thfough the Greek School. We hope to establish more social events at regular intervals to promote our community spirit, lanEuaEe and keep our tradition alive for the next generation of Greeks and Cypriots making this hospitable country their second rne. COMMUNITY BOARD MEMBER5'RE5PON5181LITY STATEMENT The Cornmunity Board Mernbers are responsible for preparin8 the Community Board members, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) The law applicable to charities in Scotland requires the Community Board Members to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charity and of the incorning resovrces and applications of resour5 of the charity for that peris)d. In preparing these financial statements, the Community Board Mewnber5 are required to: Selert suitable accounting policies and then apply them consistently, Observe the methcKIs and prinoples in the Charities SORP- Make judgrnents and accounting estimates that are reasonable and prudent; Prepare the financial statements on the going CLmcern basis unless it is inappropriate to presume that the charity will continue in operation. The Cornmunity Board Mernbers are resp(ble for keeping proper accounting records that are sufficient to show and explain the tharivs transactions and disdose with reasonable accuracy t any time the financial posltion of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotlandl Regulations 21)06 and the provi5i0ns of the charitrfs constitution. They 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 irre8ularities. report Was approved by the Community members on and signed on their behalf by: Page5
ompar150n of the financial statements presented with those records. It also indudes consideration of any unusual items or disclosures in the financial statements. and seeking explanations from you a5 Community Board Members conceming any sh matters. The procedures undertaken do not promde all the evidence that woukl be required in an audit, and on3equently I do not expre>3 an a*11 option the view 8i¥en by the accounts. ST LUKES'S GREEK ORTHODOX CHURCH INDEPENDENT EXAMINER'S REPORT {Contintsed) FOR THE YEAR ENDED 31 DECEMBER 2024 Pay7 INDEPENDENT EXAMINEIYS STATEMEpir In the course of my examination, only one matter has corne to my attention. The Savings Account had not pieviously been declared. {l}Which gives me reasonable cause to believe that in any material respect the requirements: lil to keep accountin8 records in accordance with Section 44 {1)(a) of the 2005 Act and re8ulation 4 of the AccntS Re8ulation: and (ill to prepare financial statements whith accord witkn the accounti retords. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Irdand (FRS 1021 and in other respects comply with re8ulation 8 of the Accounts Regulatior15 Have not been rnet.. or 121 to which in my opinion, attention should be drawn in order to enable a prop@r under<tai ments can be reached. Signed" Date
ST LUKES’S GREEK ORTHODOX CHURCH
UNAUDITED
COMMUNITY BOARD MEMBERS’ REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024
ST LUKES’S GREEK ORTHODOX CHURCH
CONTENTS
| Page | |
|---|---|
| References and administrative details of the charity, the trustees and advisors | 1 |
| Community Board Members’ Report | 2 - 5 |
| Independent Examiner’s Report | 6 – 7 |
| Statement of Financial activities | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements |
10 – 19 |
ST LUKES’S GREEK ORTHODOX CHURCH
________ Page 1
REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS FOR THE YEAR ENDED 31 DECEMBER 2024
----- Start of picture text -----
Community
Board Members
Charity registered
Number SCO 09396
Principal office
Chair
Administrator
Accounts
Bankers The Royal Bank of Scotland
339 Byres Road
Glasgow
G12 8QP
----- End of picture text -----
- Denotes Trustee
Page 2
COMMUNITY BOARD MEMBERS’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Community Board Members present their annual report together with the financial statements of the charity for the 1[st] January 2024 to 31[st] December 2024.
Objectives and Activities
POLICIES AND OBJECTIVES
The objectives of the Church are defined in the Constitution and may be summarized as follows:
-
i) To preserve and propagate the Christian Orthodox faith and traditions
-
ii) To preserve the original language of the New Testament in Divine Worship and in the ecclesiastical life of the faithful
-
iii) To establish churches for the worship of the True God and schools for the teaching of Greek Orthodox Education
-
iv) To receive into the Orthodox faith all those who freely desire to adopt the Orthodox faith and to live in accordance with its spiritual and moral Teaching.
-
v) To undertake philanthropic work for the benefit of those who need protection, assistance and medical care and to provide for the welfare of the poor.
-
St Luke’s Greek Orthodox Church is recognized as a Charity by the Office of the Scottish Regulator (Ref. No. SCO 09396)
Achievements and performance
The objectives of the Church are defined in the Constitution and may be summarized as follows:
-
i) To preserve and propagate the Christian Orthodox faith and traditions
-
ii) To preserve the original language of the New Testament in Divine Worship and in the ecclesiastical life of the faithful
-
iii) To establish churches for the worship of the True God and schools for the teaching of Greek Orthodox Education
-
iv) To receive into the Orthodox faith all those who freely desire to adopt the Orthodox faith and to live in accordance with its spiritual and moral Teaching.
-
v) To undertake philanthropic work for the benefit of those who need protection, assistance and medical care and to provide for the welfare of the poor.
St Luke’s Greek Orthodox Church is recognized as a Charity by the Office of the Scottish Regulator (Ref. No. SCO 09396)
REVIEW OF ACTIVITIES AND KEY PERFORMANCE INDICATORS 2024
Following an issue that was identified during the summer of 2023, an inspection was undertaken in mid February to identify the route of the drainage system. This was a requirement necessary to identify the feasibility of an additional toilet by the school entrance. The survey, however, showed that such a route was not possible and the project for such an additional toilet was abandoned.
The winter inclement weather caused substantial damage to most of the drainage gutters, particularly those at a higher altitude, where sound existing gutters were ckeaned and covered with anti-leaves mesh, while sections with unrepairable damage were replaced with new.
During the annual electrical inspection, it was highlighted that there are no illuminated exit signs above each of the entrance/exit points of the Church. This is also an insurance requirement. Remedial work was undertaken in early summer, in compliance of the necessary Health & Safety standards.
Significant wear and tear of the internal steps, leading to the worshipping area, was noticed after the Easter services, when the Church welcomed in excess of 2,500 visitors during the Holy week. The surface of these steps, including those leading to the gallery are was repaired and all steps were painted with special ant-slip paint.
It was decided that the time had come to replace the ageinh heating boilers, which had been installed some 15 years ago, to improve the efficiency of the heating output. It was decided to replace the 2x 100k WITH 2X 220 Kw new ones, thus improving the thermal output of the system. The work costing around £56K took place over the late autumn/early winter months and was funded exclusively by the St Luke’s Trust through the Stakis Foundation.
Page 3
.
Page 4
Financial Review
GOING CONCERN
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
RESERVE POLICY
The Statement of Financial Activities shows a surplus of 6,216 for the year (2023- £16,125). The revenue Fund Balance which consists of restricted and unrestricted amounts at the end of the year shows a net surplus of £94,949 (2023 –£94,374)
Structure, governance and management
METHOD OF APPOINTMENT OR ELECTION OF COMMUNITY BOARD MEMBERS
The management of the charity is responsibility of the Community Board members who are elected and co-opted under the terms of the Trust deed.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
St Luke’s Greek Orthodox Cathedral is a separately constituted unincorporated organization. It is managed by the Community Board who are responsible for its management, administration and control, the day to day running is the responsibility of the priest in charge. Members of the Community Board meet on a regular basis.
RISK MANAGEMENT
The Community Board Members have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Plans for Future periods
FUTURE DEVELOPMENTS
We Will continue our work to keep the Church building safe and water tight by assessing urgent needs and doing repairs as required. The need for the Church Building to remain open and in good state of repair is becoming increasingly important, as there is a very noticeable increase in the influx of Greek and Cypriot families to both Glasgow and Scotland, a direct result of the financial and austerity measures. These families require support through the Cathedral and their children are helped to integrate through the Greek School.
We hope to establish more social events at regular intervals to promote our community spirit, language and keep our tradition alive for the next generation of Greeks and Cypriots making this hospitable country their second home.
COMMUNITY BOARD MEMBERS’RESPONSIBILITY STATEMENT
The Community Board Members are responsible for preparing the Community Board members’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
The law applicable to charities in Scotland requires the Community Board Members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and applications of resources of the charity for that period. In preparing these financial statements, the Community Board Members are required to:
-
I) Select suitable accounting policies and then apply them consistently; II) Observe the methods and principles in the Charities SORP; III) Make judgments and accounting estimates that are reasonable and prudent;
-
IV) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Community Board Members are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Regulations 2006 and the provisions of the charity’s constitution. They 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 irregularities. PAGE 5
This report was approved by the Community members on and signed on their behalf by:
Page 6
ST LUKES’S GREEK ORTHODOX CHURCH
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
INDEPENDENT EXAMINER’S REPORT TO THE COMMUNITY BOARD MEMBERS OF ST LUKE’S GREEK ORTHODOX CHURCH
I report on the financial statements of the charity for the year ended 31 December 2024 Which are set out on pages 10 to 19
This report is made solely to the charity’s Community Board Members, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulation 2006. My work has been undertaken so that I might state to the charity’s Community Board Members those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Community Board members as a body, for my work in this report.
RESPECTIVE RESPONSIBILITIES OF COMMUNITY BOARD MEMBERS AND EXAMINER
The charity’s Community Board Members are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (The Act) and the Charities Accounts (Scotland) Regulations 2006 as amended (The Accounts Regulation). The Community Board Members consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with regulation 11 of the Accounts regulations. An examination includes a review of the accounting records kept by the charity and a
comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Community Board Members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit option on the view given by the accounts.
ST LUKES’S GREEK ORTHODOX CHURCH
INDEPENDENT EXAMINER’S REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Page7
INDEPENDENT EXAMINER’S STATEMENT
In the course of my examination, only one matter has come to my attention. The Savings Account had not previously been declared.
(1)Which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting records in accordance with Section 44 (1)(a) of the 2005 Act and regulation 4 of the Accounts Regulation; and
(ii) to prepare financial statements which accord with the accounting records. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with regulation 8 of the Accounts Regulations Have not been met; or
(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements can be reached.
Signed:
Dated:
ST LUKES’S GREEK ORTHODOX CHURCH
| STATEMENT OF | FINANCIAL ACTIVITIES | FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|---|
| FOR THE YEAR ENDING 31 DECEMBER 2024 | Page8 |
||||
| Restricted | Unrestricted |
Total | Total | ||
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| INCOME FROM | |||||
| Greek School | 34,013 | 34,013 | |||
| Donation & Legacies |
110,000 | 9,462 | 119,462 | 97,574 | |
| Charitable Activities | 39,739 | 39,739 | 31,381 | ||
| Gift Aid | 1, 794 | 1,794 | 1,687 | ||
| interest | ______ 389 | _____ 389 | |||
| _ ______ | |||||
| TOTAL INCOME |
144,013 | 51,384 | 195,397 | 153,952 | |
| ______ | _ | _ |
______ | ||
| TOTAL EXPENDITURE | |||||
| Greek School | 14,020 | 26,119 | 40,139 | 10,940 | |
| Rasing Funds |
109,200 | 27,332 | 136,532 | 34,656 | |
| Charitable Activities | 39,739 | 149,339 | 25,178 | ||
| TOTAL EXPENDITURE |
162,959 | 53,159 | 216,118 | 70,774 | |
| NET INCOME/(EXPENDITURE)BEFORE | |||||
| OTHER RECOGNISED GAINS AND | |||||
| LOSSES | 16,125 | ||||
| NET MOVEMENT IN FUNDS | (18,946) | (1775) | (20,721) |
78,249 | |
| ---------- | --------- | ---------- |
--------- | ||
| - |
The notes on pages 10 to 19 form part of these financial statements
Page 8
ST LUKES’S GREEK ORTHODOX CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2024
| ___________ | ___________ | ___________ | ___________ | ___________ |
|---|---|---|---|---|
| 2024 | 2023 | |||
| Note | £ |
£ |
£ | |
| CURRENT ASSETS | ||||
| Debtors | 10 | 0 | 0 | |
| Cash at Bank and in hand | 3,504 |
22,366 | ||
| Greek School | 47,942 |
55,883 | ||
| Savings Account | 55,433 | |||
| ----------- |
--------- | |||
| 106,879 |
85,580 | |||
| CREDITORS: amounts falling due | ||||
| within one year | 9,449 | 0 | ||
| NET CURRENT ASSETS | 97,430 | 85,580 | ||
| --------- | --------- | |||
| NET ASSETS | 97,430 | 85,580 | ||
| ______ | ______ | |||
| ---------- | --------- | |||
| - | ||||
| CHARITY FUNDS | ||||
| Restricted Funds | 12 | 38,493 | 48,644 | |
| Unrestricted funds | 12 | 58,937 | 45,730 | |
| --------- | --------- | |||
| TOTAL FUNDS | 97,430 | 94,374 | ||
| ______ | ______ | |||
| ---------- | --------- |
The financial statements were approved by the Community Board members on and signed on their behalf by:
The notes on pages 11-19 form part of the financial statement Page 9 ST LUKES’S GREEK ORTHODOX CHURCH ________
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items Recognized at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of recommended practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Accounts (Scotland) Regulation 2006.
St Luke’s Greek Orthodox Church constitutes a public benefit entity as defined by FRS 102.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Community Board members in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restriction imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.3 Incoming resources
1.4
All income is recognized once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognized when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SOPR (FRS102), the general volunteer time of the Friends is not recognized and refer to the Community Board members’ report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognized on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognized in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation.
Other income is recognized in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 10
ST LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES (continued)
1.4 Resources expended
Expenditure is recognized once there is legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cost of each activity is made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity are support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of the resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity’s operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
1.5 Going concern
The Church is dependent upon the continued support of the Stakis Foundation through the ST Luke’s trust. Because of this support it has been able to meet its liabilities as and when they fall due, and therefore the trustees have been able to prepare the accounts on a going concern basis.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and fittings 25% Straight Line
Page 11
ST LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER
1. ACCOUNTING POLICIES (continued)
Page12
1.7 Debtors
Trade and other debtors are recognized at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities
Liabilities are recognized when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognized at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.10 Financial Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at transactions value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortized cost using the effective interest method.
2. INCOME FROM DONATIONS AND LEGACIES
| Restricted | Unrestricted | Total |
Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Donations and legacies | 110,000 | 9,462 | 119,462 | 97,974 | |
| Collection | 39,739 | 39,739 | 25,178 | ||
| 29,478 | |||||
| Greek School | 34,013 | 34,013 | |||
| 34,013 | |||||
| Gift Aid | 1,794 | 1,794 | |||
| 1,687 | |||||
| interest | 389 | 389 | |||
| 144,013 | 51,384 195,397 |
Page13
LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
| 3 | INCOME FROM CHARITABLE | ACTIVITIES | |||
|---|---|---|---|---|---|
| Restricted | Unrestricted Total |
Total | |||
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Donations & Legacies | 118,000 | 35,187 | 153,187 | 110,000 | |
| Membership | 1,291 | 1,291 | 5,788 | ||
| Fundraising Income | 26,004 | 26,004 | 18,256 | ||
| Greek School | 34,013 | 34,013 | |||
| Gift Aid | 1,794 | 1,794 | 1,687 | ||
| ______ | __389____ | ______ | |||
| ______ | |||||
| 152,013 | 64,665 | 216,6781 | 135,731 | ||
| 1 | |||||
| _ | ______ | ______ | _____ | ||
| ------------ | ----------- | ---------- | --------- | ||
| Total 2023 | 54,883 | 23,473 | 78,356 | ||
| 4 | DIRECT COSTS | ||||
| Church | Total | Total | |||
| Expenses | 2024 | 2023 | |||
| £ | £ | £ | |||
| Insurance | 12,476 |
12,476 | 11,770 | ||
| Heat Light & Cleaning | 9,980 |
9,980 | 9,196 | ||
| Water charges | 6,734 | 6,724 | 1,540 | ||
| Repairs & Renewals | 109,200 | 109,200 | 59,183 | ||
| Travel | 552 | 552 | 829 | ||
| Church Expenses | 1,794 |
1,794 | 7,181 | ||
| Telephone & Postage | 710 | 710 | 670 | ||
| Greek School | 14,018 |
14,018 | 45,549 | ||
| Donations | 1,500 |
1,500 | 11,903 | ||
| --------- | -------- | -------- | |||
| 156,964 | 156,964 | 147,821 |
024
ST LUKES’S GREEK ORTHODOX CHURCH
________
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
DIRECT COSTS (CONTINUED)
| Analysis of restricted expenditure | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Insurance | 11,770 | 11,770 | |||
| Fabric Repairs | 56,628 | - | 9,196 | ||
| Church expenses | 1,176 | - | 20,884 | ||
| Greek School | 45,549 | 10,144 | |||
| ---------- | ------- | ||||
| Total | 115,123 | 56,513 | |||
| ______ | ______ | ||||
| ---------- | ----------- | ||||
| 5. | GOVERNANCE COSTS | ||||
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Accountancy Fees | 750 | 750 | 700 | ||
| _____ | _____ | _____ |
|||
| -------- | -------- |
-------- | |||
| 6. | ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE | ||||
| Other costs | Total | Total | |||
| 2023 | 2023 | 2022 | |||
| - | |||||
| Fundraising Expenses | 22,335 | 22,335 | 13,511 | ||
| -------- | ------- | ------ | |||
| Costs of raising funds | 22,335 | 22,335 | 13,511 | ||
| ---------- | ------- | ------- | |||
| Charitable activities | 137,458 | 137,458 | 70,024 | ||
| Governance |
700 | 700 | 750 | ||
| --------- | -------- | -------- | ------- |
||
| 138,158 | 138,158 | 70,774 | |||
| ______ | _____ | _____ | _____ | ||
| ---------- | --------- | --------- | -------- | ||
| Total | 2023 | 13,511 | 70,774 | ||
| _____ | ______ | ||||
| - | -------- | ---------- | Page14 |
ST LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
| 7. | 2024 | 202 |
|---|---|---|
| £ | £ | |
| Accountancy Fees |
750 | 700 |
| ____ | ____ | |
| ------ | ------ | |
| During the year, no Community Board Members received any remuneration or expenses | ||
| During the year, no Community Board members received any benefit in kind |
7.
8. STAFF COSTS
| Staff costs were as follows: | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Wages | & Salaries |
- | - |
| Other pension costs | - | - | |
| -------- | -------- | ||
| - | - | ||
| _____ | _____ | ||
| -------- | ---------- | ||
| The average number of persons employed by the charity during the year was | as follows: | ||
| 2024 | 2023 | ||
| No. | No. | ||
| Priest | 0 | 0 | |
| No employee received remuneration to more than £60,000 in either year. | |||
| 9, | TANGIBLE FIXED ASSETS | ||
| Fixtures and | |||
| Fittings | |||
| £ | |||
| Net book value | |||
| At 31 December 2024 | - | ||
| ---------------- | |||
| At 31 December 2023 | - | ||
| ____ | |||
| ----------------- | |||
| Page 15 |
ST LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
| 10. | DEBTORS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 0 |
0 | |
| ------ |
------- | ||
| 0 |
0 | ||
| ____ |
_____ | ||
| ------ |
-------- | ||
| 11. | CREDITORS: Amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 9,449 | 0 | |
| ____ |
____ | ||
| ------ |
------ |
Page 16
ST LUKES’S GREEK ORTHODOX CHURCH
________
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
| 12. STATEMENT OF FUNDS |
Page 17 | ||
|---|---|---|---|
| STATEMENT OF FUNDS –CURRENT YEARS | |||
| Balance | Balance | ||
| 1 January | December | ||
| 2025 | 2024 | ||
| Income Expenditure | |||
| £ | £ | £ £ | |
| Unrestricted funds | 58,937 | ||
| General Funds | 46,068 | 42,737 |
(84,717 ) 3,504 |
| Savings Account | 55,433 | 55,433 |
|
| -------- | -------- | ------- -------- | |
| Restricted funds | |||
| Stakis Foundation St Luke’s Trust | 110,000 | (100,013 9,987 |
|
| - | |||
| GreekSchool | 57,949 | 34,013 | (14,033) 47,929 |
| St Luke’s Toilet | 15,000 | 15,000 | |
| ______ | _ ______ |
||
| 257,183 | (198,764) 131,853 |
||
| ______ | ______ | ______ ______ |
|
| Total Funds | 57,949 | 257,183 | (198,763) 131,853 |
| ______ | ______ | _ ______ |
|
| ---------- | ---------- | ------------ ----------- |
The Stakis Foundation for St Luke’s Trust gives donations for specific costs incurred by the Church. See note 4
The Greek School Funds whilst held in a separate account are part of the Charitable Foundation and therefore incorporated into the accounts.
STATEMENT OF FUNDS – PRIOR YEAR
| STATEMENT OF FUNDS – PRIOR | YEAR | |||
|---|---|---|---|---|
| Balance | Balance | |||
| 1 January | 31 December | |||
| 2024 Income | Expenditure | 2024 | ||
| £ £ | £ | £ | ||
| General Funds | 22,366 | 46,068 | (22,704) | 45,730 |
| --------- | -------- | ----------- | --------- |
|
| Restricted Funds | ||||
| Restricted Funds | 55,883 | 107,884 | (115,123) | 48,644 |
| _ ______ | ______ | ______ | ||
| Total funds | 78,249 | 153,952 | (137,827) | 94,374 |
| ______ | ______ | _ | ______ |
---------- ---------- -------------------
ST LUKES’S GREEK ORTHODOX CHURCH
________
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
SUMMARY OF FUNDS CURRENT YEAR
| Balance | Balance | ||||
|---|---|---|---|---|---|
| 1 January | December | ||||
| 2024 | Income | Expenditure | 2024 | ||
| £ £ | £ | £ | |||
| General Funds | 58,937 | 42,737 | (84.817) | 3,504 | |
| Savings Account | |||||
| Restricted Funds | 55,483 | 55,433 | |||
| Stakis FOUNdation ST | Luke’s Trust | 110,000 | (100,013 | 9, 987____ | |
| Greek School______ | ______ | ____27,949_ | 34,013_ | (14,033) | 47,929 |
| St Luke’s Toilet | 15,000 | 15,000 | |||
| _ | ______ | ||||
| ---------- | ---------- | ------------ | ----------- | ||
| 101,886 | 186,750 | (186,750 | 131,853 | ||
| SUMMARY OF | FUNDS – PRIOR | YEAR | |||
| Balance | Balance | ||||
| 1 January | 31 December | ||||
| 2023 | Income | Expenditure | 2023 | ||
| £ | £ | £ | |||
| General Funds | 22,366 | 46,068 | (22,704) | 48,644 | |
| Restricted Funds | 55,883 | 107,884 | (115,123) | 56,973 | |
| _ | ______ | ______ | ______ | ||
| Total funds | 78,249 | 153,952 | (137,827) | 94,374 | |
| ______ | ______ | _ | ______ | ||
| ---------- | ---------- | ---------- | ---------- |
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ST LUKES’S GREEK ORTHODOX CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
3.ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT YEAR
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| Current assets | 72,916 | 58,937 | 131,853 |
| -------- | ------- |
-------- | |
| 72,916 | 58,937 |
131,853 | |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS –PRIOR YEAR | |||
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| £ | £ | £ | |
| Current Assets | 48,644 | 45,730 | 94,374 |
| -------- | -------- |
-------- | |
| 48,644 | 45,730 | 94,374 | |
| _____ | ______ | ______ | |
| -------- | ---------- | ---------- |
14. RELATED PARTY TRANSACTIONS
The Stakis Foundation through the ST Luke’s TRust gives donations for specific costs incurred by the Church. This is included in donations and legacies. For more details see Notes 2 and 4.
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