THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW LEGAL AND ADMINISTRATNE INFORMATION Auditor JF Francis Ltd Francls Hous 2 Park Road 8amet Herts EN5 5RN
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW CONTENTS Pago Truslees, report Independent audttorfs report Statsment gf financkql activthe¥ Balance sheet statèmènt of Cash )ltsv Notas to thè finandgl statarNnts 10-18
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 The Trustees present their annual report and arjaI statements forthe year ended 31 December 2024. The finanrial 5tatement5 have been prepared in accordance with the acutIng pc4icie5 set out in not¢ 1 to Ihe financial statements and COrnFAy with the Charty8 goveming docurnent. the Charit$ and Trustee Investment Iscollandl Act 2005, the Charltles Accounts Iscollandl Regulations 20C6 las amended) and 'Accountlng and Reporting by Charities.. Statement of Rewmrnended Practice appli¢ablg tg ¢harilies preparing their 8¢counts in accordance with the Financial Reporb'ng Standard ap[Aab in the UK and Republ¢ of Ireland IFRS 1021. {effectfve 1 January 20191. Oblectjves and a¢tlvltle• To gwe right worship to the One God In Three Per¥on3 and tg establish ¢hyrthes for su¢h wor¥hlp', to preserve and teach the hoty Orthodox Faith,. to receive accx)rding to the rites of the H¢Jty Orthodox Church all those who fredy dacidè and sinc0lY dosi to adopt that Faith and to Ivè According to its spiritual and moral taachings,. to ndertake charitable work for the benerrt of those who need financial as51stan, induding those suffering persecutKJn,' to provide Wew8 of the poor,. to visrt the sick and impnsoned,. to prowde chri8b.an burial for those Orlhodox who dia in Scouand without financial means and who are not in thè pastor81 care ol any Orthodox Communty,. ¢0 pray for the fving and the dead. A5 well as offering worship to God and re1vJuS education for our member5 and all those interested, we offer our farillies to th8 Greek School under the narne of Edinburgh HgIK8nic School of St Andrew. The Sthg01 opens it¥ doors to chiklren and adults of Gek and other nationalits"es', Thot all attending the Greek School a giste member5 of our Comrnunity. a150 operate as Edinburgh University Orthodox Christian Chaplainey for Stud•nt$ and Stsff and we arg home to thg Edinburgh unrSty Orthodox Christian Student Society. Public bènèfft The Twstees have paid due regard to guldance Issued by Ihe Charty Commlsslon in decldlng what activ"e$ the Charity should undèrtakè. The trustees have had due ward to the Charity Regulator guidance on public benefft and confirm that the Chanws objectNes benefft the public in a number ol ways e regLlar publ'c worship and sacred space lor private prayer andlor conternplation. provision of education to students of the School. The Charity also provides a¢tivrtie3 for all ages including conferences, lectures, workshops, courses eto which are held throughout the year. Achlevernents and performance Significant 8cliwts8s and 8chi8V8m8ntS 8g8instobi8ctsv8s Through our cash serveS and lund-rai5ing activities, we are able to provide continuous financrdl assistance to a umber of Charthe8 such as School of Byzantine Music, as well as families and indidual8 in need from within our Communty and Iwond. In addition, the educational activibe8 of the schod incre889d in Ihe year the number of attendants a Increasesj generatlng addonal Income lor the charfty. During the year. we were able lo hold almost ftjlty attended 8eMce8 in our Churth. We are grateful to our Communty who have confjnueé to support the Church. Flnanclal revlew Our main source of funding continuès tts bè donations (regu[ and adthac) and wèèkty colledions from our seNices. We also re¢eive a monthty income from properlies that the Charity owns. The income received over the 2024 calèndar yoar Is prèsantad lrn the Statement of Financlgl Advltios. We have no restricted lunds al the pSent time. 1 fijnds mentioned in Ihe a£unt$ are unrestricted. Incorne on uThre8lricted funds was £192,490 12023.. £702,443) and Expenditure for the year was £191.451 {2023'. £204,761).
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEM8ER 2024 Gn9 concem The truslees have a rea8on8lAe expectalion 1hat the Charity has adequate re8our¢g5 lo Trtinue in operational existence for the foreseeable fijture. The trustees regard the foSeeable future as no less than fvmlve months followfig the publication Df th8 Charity's aTrnual financial staternents. The tru5tEes h8va considered the Charity's balan¢e sheet position and reserves a8 al year end. the future plans for the Charity. taking account of 880naY possible changes in the income of the Charity and are satisfied that the Chanty has suffiCt resources to remain In operational existence. According, they have adopted the going concem basis in preparing these financial statements. ReseThes policy It is the policy ol the Charity that unreslrieled funds whieh have not been deswJnatetJ for • specific use shoukj be maintained at a minimurn bv81 which equates to approximatdy srK months of unre5tiicted charitable 8xpenditur8. The Trustees consider that reserves at this level will ensu that, in the event ol a sKJnificanl drop in funding. they wlll be able to continue the Charity's current activities ¥¥hI consideration is gNen to ways In which addltlonal funds may be lS&d. This bv81 gf res8rves ha5 been m8intain8d throughout th8 year. The balance hebj as unrestricted funds at 31 December 2024 was £243,140 of vthich all arè regarded as free reseNe5, after allowing for funds tied up in tangitle ffixed assets and investments. Aclual six month cash payments totsled £98.OCrf). The cJJrrent level of resee8 13 therefore higherthan is needed. Pl8n¥ to improve the facilitS are being di¥¢u$sed and the ¥gme of the reserve¥ wlll be utlised to a¢hieve Ihl¥. ere deficlts occur, these are carrled for to Ihe f1)wIng year. Plans forfuture rIOdS The Charty will wntinue with its core arlmlies of offering worship to God and religu5 education lor its member¥ and all those interested. The Charity also aims to provide additkjnal traknlng and devekjpmenl for staff and volunteers. structurn. governance and managernent The charity is an unlncorporated entty. It Is governed by fts consl1tu0n whlch was adopted on 16 April 2CK14 and last arnended on 23 December 2019. The Church w8s gr8ntgd ch8rit8tl8 8talu3 by OSCR gn 26 June 2009. The charity has reviewed its govemance to compty with S(xJtlish governance code. The Trustees who served during the year and up lo the date of signature of the financial statsm8nts r.. Recwitmont and appoinh)ent oflrnsteas The Chair, Secretary and TaSurer are first elected as members ol the Church Commrttee by the AGM and then th& Momts of tha Church Committ*• è18cl from thèir numbsrs lh8 8bova officafs. The commrttee can apwnt up to three more twstees that there are no such ones at the moment. New Tru8tees have an orientatK)n 8e83ion a8 Provided by the Pr$14n-ch9r90. They are also requestsd to nderstand thelr legal oblSgations under charty law, the Scottlsh Charty's Reguto¢S guSdance on trustees duUes, the committee and decision4llaking PrSseS and recent ffinarncial performance of the charity.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEM8ER 2024 Remuneration policy The Trustees consider the board of trustees and the Genr management tsam comprise Ihe key personnel of Ihe Trust in charge of directing and controlling, runnlng and operatin9 Ihe Trust on 8 day to day basis. O8ta115 of trustees, and key management per80nr*l rernuneration and expenses are di8ch)3ed in note 10 to the accounts. Rtsk manègement Th8 trustees h8V8 a8S8S8ed th8 major ri8k8 to whh thè Charty 18 èxposèd, and arè Batisfied that 5y8t•rn$ aM In place to mitlgate exposure to the malor dsks. Key rlsks at F¥e8ent ar8 assessed as being 8ssoclated vAth reductlJn In donations and rental incom8. Considering that the Charty has good rental yield on the propety, a reduction in rental income not antiapated. Additionalty. Ihe fund-raising of Ihe Charity is community based which enables rt to attract a rdnge of support thereby assisb.ng in its ntinuity- Fundrsising st&tomgft1 The Charity continue to work towards divèrsifying its fundraising actwitiès to Ènablè it to raisè vital funds that will create better OLrtcomes to enhance charitable Purposes and objectives in the wider communty. The Trustees. along wth tholrts8m. arè commlttèd to bulldkng tnjstwlth th• donors And thè wid•r communty. hjongside this. the Charity is also commrtted to adhering to stringent procedures relating to all aspects of its work and kèepSng them In line wlth the Coda of Fundralsing Pratlkè. There Were no dlsclosat4e related paty transacfjons during the year. Further information can be fourKI at http8Jledinburgh-Qrthodox.org.ukl Fund• held aa eustodian Iru•teè No lunds are held as custodian trustee on behall of others. stst•m•nt of Tru8te0¥' rg$pon$ibilitl•$ The Trustees are re¥pon8ibk for preparing the Tru¥tee8' Report end Ihg finan¢ial ¥tslements in aOrdan with applicable law and Unw Klngdom A{)Ub.9 Standards (Unrted Klngdorn Generalty Actepted A(wunting Practlce). The Trustee8' report was approved by the Board of Twuslee8. hairman 16 September 2025
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW Oplnlon We have audited the ffinanryal ststemenls of The Edinburgh Orthodox Comrnunity of SIAndrew Ithe'chantyl forthe year ended 31 December 2024 which ck)mprise the statement of financial aCtiVe$, the balarKe sheet, the statement of cash Iknv5 and nol8s to tha finanual staternents, including significant accounting policies. The fifiancial reporting framework that has been 8pplied in their pparatiOn is applicable law and United Kingdom Accounting Standards, Including Flnancial Reporting Standard 102 The Financial Reporting Standard applicabl6 in the UK atKI Republic of Ireland lUned Kingdom Generalty Accepted Accounting Practlcel. In our oplnlon. ihe flnandal statements.. give a true and tsir vw4 of the state of the charity's affairs as at 31 DecerTthr 2024 and of its incoming resources hnd aP1¢&tiOn of resources, for the yearthen ended.. have been properfy prepared in accordance wrth Unrted lQ"ngdom Generalty Accepted Aeck)uth"ng Prach"ce,' and havo been prepared Sn acL¥Jrdance wfth the Charttles Act 2011. Ba$ls for oplnlon We cgnducted our audit in aOrdanCe wth Inlematy'onal Standards on Audibng IUKI (ISA8 IUKII and applicable law. Our SpOnSIbl1t1es under those standards are further described In Ihe Audilofs sponbIllI1eS for the audit of the financial statefftentS section of Dur reporL We are independent of the Charity in accordance with the ethic requirements that are relevant to our audit of the financial stat8ments in the UK, including the FRC'S Ethic Standard, and we have fumId our other ethlcal sponSIble$ In accordance vlth these reqU5mentS We belleve th8t th audit $vid•n¢8 w¥ ha obtainod is $uffityènt and appropriot• to prowd$ 8 ba$1$ lor ¢wr opinion. Conclu8lon• r•latlng to golng concern In Judng the finanrial statement8. we have conduded that the Trustee8' use of the going concem basis of accounffing Sn the preparation oltho ffinanckal ststamonts Ss appropriato. Based on the WO we have performed. we have not identrfied any rnaterial uncertainties relating to events or conditions that. individualty or colactivaty, may cast signfficant doubt on the Charity's abilty to continue as a going ¢oncem for 8 Period of al least twelve months from when the financi81 $18ternents are authorised for issug. Our respons1biles and the responslbilties of the Trustees wilh respect to going concern are described In Ihe relevant Sgctign$ of this report. Othèr inf4)miation The other infomiation eomprises the infom18tion In¢ded In the annual report other than the finanoal statements and our auditors raport th•raon. Thè Trustats are rèsponsiblè for th• othèr infomiation containèd wrthin th8 annu81 report. Our opinion on the financial stalements does not cover Ihe other infomiation and we do nol express any form of assurarKe CL)nclusion thewn. Our responsibility is to read the other infom)ation and, in doing so, cL)nsider whether the other inforrnalion is matèrialty incon5i5tent with the financi81 statements or our knOwdgts obtainèd in the c4)urse of the audit. or otherwise appear5 to be materialty misstsled, 11 we identfy such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives nse to a material misstatement in the financial staternent5 therns8lve5. 11, b858d ofi the work we have performad, wa eonduda that thor• Is a material misststement of this other informabon. we are required to report that fact. We hav¢ nothing to report in thi5 regart. Matters on •thlch W are requlred to report by exceptlon We have nothing to report in respect of the following rnatters in relation to which the Charit$ (Accounts and Report$l Regulations 2008 requi5 US to report to you rf, in our opinion.. the information gi¥en in the finanuol statements is inconsistent in any material respect wth the Trustees. rèport., or suffiaent accountlng records have not been kept". or th8 financial statements are not In agre6mentvAth the accouTrlThg rec4)rds,' or we have not received al the Information and exF4anations we requlre for our audlt.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW Responslbllltles of Trustees As expk8ined rnore fully in the 8talerrent of Trustees. responsiblities, the Tru3tee8 are responsible for Ihe preparation of the financial statements and for being satisfied that they gwe a true and fair view, and for such internal control as th• Trustee5 d8termina is necessary to 8fiab18 the prepaialion of financial 5tat8m8nts that ar8 free from material mi38talemenl. whether due to fraud or error. In preparing the fin8nryal stslements. the Trustees are responsible for assessing the Chanty's abilty to wntSnue as a going concem, disdosing. as applicable, matters related to going concem and using the going concem basis of accounting unless the Trustees either intend to cease operatKJns. or have no realistic altemalNe but to do s Audito8 rwdponsibilitios for the audit of the financial statements We hAve been reappointed os auditor under section 44111{cl ol the Charitses and Trustee Investment (Scotlandl Aci 2005 and report in accordance with 1he Ad and r81evant regLlations mad8 or hawng effect th8reund8r. Our oblectfves are lo obtaln reasonable assurance about whether Ihe ffinancfjal statements as a whole are fre8 from material misstatement, whether due to fraud or eOr, and to Issue aTh audilorfs report that indude5 our opinion. Re880nable assurance is a high leyel of assurance but is not a gvar8ntee th8t an audr( wnducted in accordance wfth ISAS (UK) wlll aayS detect a Mateal mlsstatemgnt when It exis Mlsstatements can arfs6 from traud or error and are nsIdered material rf, individualty or in th¢ aggr¢gate, they could reasonably b¢ expected to influence the economic decisions of u8er8 tsken on the basis of these financial ststements. Thè èxtènt to whieh our proeèdurès arè eapabk of dètècbng irrègulaiitsès, including fraud, is d•lalad b•low. Our audit procedures wgre designed to rejpond lo Ihe Klenbfied ri3k8 rg18th.ng tg non-complianrR wilh law8 and reguktlons and IrgUlan1[e5 IlThcludlng fraud) that are rnaterlal to the flnanclal statements. Our audit procedures in relation to TronwcompliancE vAth laws and regulatKJns included, but were r1 limited to.. Dlscussing wtth the trustees and management Ihelr poldes and prdre$ regarding cLJmplance bws and regulalion5 and revEwing CoeSpOndence with regul8tors and wrth solicitor5,' and Communicating identffied laws and regulab.ons with tha audit tèam and ièm8ining alert to any indie8tsons of nonwcornpliance throu9hout the audit.. and Considering the risk of non-cornpliance with law8 and regulalion8,' and Considering whether the finandal statement dl$dosure8 falty represent the undewng tranBadons. Our audit procedures in relation to irregularit$ and fraud inchjded, but were not limited to: Making enquiries of trustees an¢J management as to where they o)nsidere¢J there was suscepts"bilty to fraud, and whether Ihey had knthedge of actual, suspected or alleged fraud, and Gaining An undèrstanding of the intern81 controls &st8bli$h•d to mrtV8te risk$ r•lab"ng to fraud,. And Dlscussing tha rfsk ol fraud and managom•nt blas wfth tha audit team and r•mainlng alèrt to any indicaon3 of fraud and managenI bias throughout the audit., and Addressin9 the risk of management Override of contro* by testing joumal entrigs, cgn8idering the ratlgnale behind significant or unusual transactK)ns. and revng acxounting estimates There are inherent limrt8tions in the audrt procedures described above and the primary responsibilty for th• pravantion and d8t#d6on of Irragularit68s IncludSng fraud r&sts wlth manag8m8nL B¢cau88 of the3e inherent Imrtation8, there i¥ 8 that we wll ngt dptgct 811 irregularitiej, induding Ihg39 leading to a rnaterial misstatemenl in the financial statements or non-compliance with regulation. This risk increases Ihe MO that compliance with a law or regdation is MOVed from the events and transactions flected in Ihe financi ststements, as wè wll bè less likeb to become aware of instancè5 of norKornFliance. Thi5 risk is 8150 greater regar¢in9 irregularities ¢xcurring ¢ue to fraud rather than error, a$ fraud involves intentional concealrnent, forgery, collusion, omission or misrepresentation.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW A fijrther desCripOn of our responsiblitie3 is available on the Financial Reporting Councl's website at.. https.'Il www.frc.org.ukjaudrt0rssponsIbi1rtIe$. This descripb.on forms part of our auditors reporL Use of our report This report is made solely to the charty's trustees In acrdOn vAth wulalon 10 of Charity Accounts {Scotlandl Regulatn$ 20C6. Our audit work ha$ ba•n undèrtaken so that wè ml9ht statè tts thè chariiys tru$te8s thos• matters we 8re reqUId to Stale to them in an auditorfs port and lor no other purpose. To the fUl$t extent permitted by law, wè do not accept or assume responsibilty to anyone other than the charty and the chartys trusta&s for our audtt wark, for thi$ rèport, or foi thè opinions wa hava formèd. Isenlor Statutory Audltorl For and on behalf of JF Francis Ltd, StaiutoryAuditor Chartèred C•rofi6d Accountants Franos House 2 Park Road Bamet Hert8 EN5 5RN Data.. ..I.fi./..Q.9..1.2025 JF Franus Ltd is eligibk for appointment as audrtor of the Charty by wrtue of rts elyjibilty for appointrnent as auditor of a cornpany under 5eclbon 1212 of the ¢ornpan*sAct 2006.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEM8ER 2024 Unre8trl¢ted Unre•trl¢ted fund• fund¥ 2024 2023 Income from.. Don8tiors and le9aries Charitable activitie5 Interest Income 115,317 68,499 8.674 627,377 75,068 Total Income 192,490 702,443 Expendlture on.. Charitable activitie5 191.451 204,781 Total expendlture 191,451 204,761 Net Income and movernent In funds 1.039 497.682 ReconcRlatlon of funds.. Fund balancès at 1 January 2024 3,870.714 3.373,032 Fund balanc•s at 31 December 2024 3,871,753 3,870.714 Th& stAtamant of financial aetivits includès all gains ènd lossas raeo9nisad in Iha yèar. All incoma and èxp•nditur• derive from continuing activities.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Flxed auota Tangible assets Investmenl property 12 13 2,503,613 725,000 1.797,003 725,OQX) 3,228,813 2.522,003 Current asjets Debtor5 Cash al bank and in hand 14 38,475 626,254 164,410 1.189,701 664,729 1.354,111 Credltorg: amounts falllng due wlthln onB year 15 121,5891 {5,4001 Net ¢uTh•nt a88ets 643,140 1.348,711 Totsl 1•ts1o curr•nt liabilitlg• 3.871,753 3.870,714 Income fund• General unrestricled fijnds Revaluation reseNe 3,471,7S3 400,0) 3.470,714 400.000 3.871.753 3.870,714 3,871,753 3.870.714 The finan¢ial statemenl8 were approved by Ihe Trustees on 16 Sepiember 2025 Chalmion
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEM8ER 2024 2024 2023 Notes Cash fl¢)w4 from operating activiti Cash generated from operations 16 134,489 485.240 IVlIng octlvltle• Purchase of tangible fixed assets Proceed5 from disposal of inveslment propety Inve81rnent inwrne rKeived (708,6101 2CQ.000 8,874 Nèt eash lus•d inllg•n•rnt•d from inv•sting a¢tlvlllg8 1697,9361 200,OQJ N•t cash g•n•rat•d from Ilnanelng aetlvlti Net Idocroa$olllncr•as• In cash and cash equivalents 1563,44n 685,240 Cash and cash equNaknts al beginning of year 1,189.701 504.461 Ca•h and c48h equIV¢tI ot end of yeor 626,254 1.189,701
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Accountlng pollcles Charfty Information The Edinburgh Orthodox Community of StAndrew is an uninco lland with registration number SC04(K813. The principal address is The prinupal object of the charity is offering worship to God and ligIouS educatson lor rts members and all those interested and offering lale5 to the Greek School under the name Df Edinburgh Hellenic Sthool of St Andrtw. 1.1 Ba81• of prèparatlon The finanud statements have been prepared In accordance wth the Charty's govemlng document, the Charilias and Trusta8 Invastmènt Iscolandl Act 2005, tha Charitias Accounts (Scotlandl Règulations 20Ce las amended). FRS 102 'The Financial Reporting Standard applcatrAe in the UK and Republc of Ireland. I'FRS 102.1 and the Charfues SORP "Accountlng and Reportlng by Charftles.. Statement of Recommended practi applicablp to tharities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republ of Irebnd IFRS 1021. leffectNe 1 January 20191. The Charrty 18 a Publc Benoffl Enllty as dofined by FRS 102. The flnan¢ial statements have departed from the Charibes IAccounts and Reportsl Regulation$ 2008 onty to the extent required to provide a true and fair view. This departure has involved follobwng the Statement of Rèeommèndd Practic• for charityds apPing FRS 102 rathèr than thè vèrsion of thè St8temènt of Recommended Practlce whlch Is referred to In the Regulatlons but whkh has sln¢e been thdraWTr. Tha ffnanual statèmants ara prapar8d in stèrllng, whlch is thè fuKtk)nal curroncy of th8 Charfty. Monètsry amounts in the8e financ4al statement8 are rounded to the nearest £. The finan81 staternents hove been wvpargd under th? historiul co¥t wnvention. Th? prinripal aOuntIng I'cie8 adopled are set out below. 1.2 Golng eone•m At the tlme ol approvlng the fln8ndal statements, the Trustoes hgve a reasonable expectatlon that tho Ch8rfty has adequat8 resour£8S to continue in operatK)nal existence for the foreseeatle fulur8. Thus, thè Trustèès Cntinue lo adopt the going concem basis ol acujunling in preparing the financial statements. 1.3 Charltal)le fund$ unrestricted fvnds a available for use at the dISclon of the Tw8tee3 in fvrtherance of their charitable objecbve& Restrlcted funds are subject to specffic condftlons by donors or grantors as to how they may be used. The purposes and use$ of the restiictsd funds set out in the notes to the finan¢iaJ statements. Endo¥rngnl fvnd8 are subied to SPlfi¢ ndon$ by donor¥ that the ¢aplo1 must bg mainlalned by the Charity. 1A Income lThwme is recognised when the Charity is kgalty entiljed to il after any performance conditions have been met. the amounts can be measured relÈbly. and it is probabb that income wll be reeeived. Cash donation5 are r8cognis8d on a r8c&ipt ba515. Other donation5 ar8 r8cognis8d once the Charity ha5 b8en nofjfied of the donation, unl985 Pgrfomian¢e coThdition$ requirg d¢ferral of the arnount. Ino)rn? tax rAerabl$ In relath)n to donatlons ceIved under GIftAid or deeds of covenant is recognised at the time of the donatlon. Legades are recognlsed C recelpt or otherwlse If the Chaity has been notffied of an Impendlng dlstrfb¢Jtlon, the amount Is known, and receipt is expected. W the amount is not known, the legacy is treated a¥ • contingent asset. 10-
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 A¢Unting policies Icontinugdl 1.5 ExpendSture EXpendrtU is recognised once there is a kgal or ¢onstwctNe otAtyaation lo transfer economic benefft to a third paty. tt is probable that a transfer of economic beneflts will be requlred In settlement, and the amount of tha obllgatlon can b8 mwdsurèd rallatty. Expendrture is cLassthed by activity. The costs of each activty are made up of the total of direct costs and sharèd costs, including Support costs Invo@d in undèrtaking èach activty. Diièct costs attributabla to a sing a¢vty are allocated directty lo that a¢tivty. Shared costs which contribute to more than one activty and support costs which are not attdbutable to a single act are appotloned between those activit$ on a basls con5iSt8nt with the u58 of r950urce5. Central staff c05t5 are allocated on th8 basi5 of time spent, and deprerAation charges are allocated on the portion of the as8ef8 use. 1.6 Tang11)le flxed assets Tan9ible fixed asset3 a initially measured at cost and subsequenlty measured al co81 or valuation, net of depredallon and any Smpalmient losses. Depreciakn"on is recognised so as to write off the cost or valuation of assets less thelr resldu81 v8lues over their usèful Ilvès on thè follLAving ba5es'. Freehold land and bulding¥ Motor veh1&# Not being d&PClated 25% Reduclng balancg Thè galn or loss arf5ing on tha disposal of an ass•t Is datèrrnlnèd as thè dtWèranet bètwean thè sab proeèads and the carrying value of the asset. and is recognised in the statement of financial actNlties. The bulldlngs are malnlalned lo such a hlgh standard that any depreclatlon would be Inslgnfficant. Whlst thls maybe a departure from SOP, it 15 coll5Klered approprkgts in order to show a true and fair wew. Depreclatlon on plant, machlnery, and motor vehldes Is not charged In the year of acqulsthon, and lull depretsathon is provided in the final year of their uselul Itf•. 1.7 Inv•#tmènt prop•rty Inve$trnent propeity, which is property held to eam rentals andlor for capital 8ppreoalitin, is inthally rgnIsed at cost, whlch Include8 the purchase st and any directy attributabb expenditure. Subsequenljy it is measured at fair value at Ihe reporting end date. The surplus or deficil on revaluation is recognised in proffit or loss. 1.8 lrnpaiTh8nt of fixed assets At each pOr"n9 end date, the Chanty reviews the carying amounts of its tangible &ssets to detem)ine whèthèr tharè Is any Indicaan that thosè assèts havè suffèrad an Impalrmant Ios5. If ary such Indication exisis. the recoverabk amount ol the asset is estimated in order to determine the extent of the impairment loss lif 8nyl. 1.9 Ca•h and ca¥h •quivalonts Cash and chsh equiv&lents include cash in hènd, deposits held at call with bonks, other $hort4erm liquid Investments with origin41 maturiti8s of thTee months or les5. and bank overdrafts. Bank overdraft5 8r8 shown wtthin borrowings in rajrrenl laknlties.
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 A¢Unting policies Icontinugdl 1.10 Flnanclal Instruments The Charty has elected lo appty the provision8 of Section 11 'B88ic Finanrial In8trument5' of FRS 102 to all of Its financial instDJments. FinaThrAal instruments are reo)gnised in the Charws balance sheel when the Charity becx)mes party to the cntractUal pmisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented ITh the financial 8talemenls. when there is a legalty enforceable right to set off the recognised 8nw)unts and there Is an lntenb.on to setue on a net basi5 or to rEali58 th& asset and s8tt18 the liability simultaneou51y. B•slc fln•nckl •ss•ts Basic financial assels, which incljde debtors and cash and bank balances, a Inrtialty measure(J at transaction price including transacOn Costs and are subsequenty carried at amrts.sed cost using Ihe effedwe Interest methgd unkss the arrangement constitutes a financing transaction, wherg the transa¢lion i measured at the present value ol the future receipts discounted at a mart(et rate ol interest. FinanrAal assets dassthed 8$ reCeab wthin one ye8r are not amortised. Bask flnan¢lal Ilabllltles Basic financial liabilties, including creditors and bank loans are initialty recognised at transaction price unless the arrangement constitutes a finandng transactlon, where the debt Instrument Is rneasud at the present Value of the fijture payments discounted at a market r8t¢ gf inl¢r¢¥l. Finanaal liabilities d8ssrfd 8¥ payable wrthin one year are not amortised. Oebt lnstrurrnts are suty5equentr carried at arngrtisgd cpst. using Ihe interest r8te nlhOd. Trade credltots are oblgatK)ns to pay for goods or servlces that have been acqulred In the or¢Jlnary course of operations from 5upplier5. Amounts payable are da5Stfied a5 current liabil'tie5 if payrnent 15 due within one year or less. If not, they a presented as non4urrent liabilities. Trade credrtors are recognised initially at transadion price and subsequentty measured at amortised cost using the effective interest method. D•re¢o9nlkn olflnanclal Ilabllldes Financi81 liabilitPS 8re dere¢ognised when the Charity'8 tradUal obligations expye or are di3ch8r9ed or cancelled. 1.11 Taxation The Charity is able to take athantage of the eXeM.nS trom t8X8ti0* on in and g8in¥ available to charit$ and accordingty no taxab.on is payable on the net incomin9 resources. 1.12 Employ•• bon•flts The cost of any unused hollday entttlem8nt Is r8cognlsed In the porlod In whlch th8 emFloyee's seNkns ar• rKeived. Taminafjon beneffts ar8 rwnlsed Immedlataty as an expens8 when the Charty Is d8tTh)nstrabty commmed lo temin8le Ihe employrnenl of an empkjyee or lo provide leInation benefit& 12-
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 Crltlcal a¢counllng e>tlmates and Judgements In the application gf th¢ Charitys accounting poliues, the Trustees are required to make judgernent5, estimates and assumptions about the carying amount of assets and lakn'lities that are not Teadty apparent frorn other sources. The estlmates and assoclated assumptSons are based on hlstorlcal experSence and olher fBCtor8 that are consid¢rg¢J lo bg relevanl.Adu81 rg3ult$ may drfter from these 93knm8tg& The estmates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting e¥th'matg8 arg recognised in tho period in whh the gslim8te is rgvised where the wijion 8ffect¥ gnty that Feriod, or in the perKJd of the revision and fijture periods %there the revision affects both (rrent and fulure periods. There are no slgnlfjcant accounting esllmates and judgements. Donatlon$ and kgael Unr•6tr1ct•d Unrostrlcted fun416 fun¢8 2024 2023 Donatlons and Grfi aid M?mber8hip fee$ 101,439 13,508 370 436.331 190.186 115,317 627,377 thin donations and gifts, an amount of £101.439 was rewved from multiFle donors. Ineomè from eharltablè a¢vItI•* Unr•¥trfctod Unmtri¢ted fund• funds 2024 2023 Charltable and other actlvltle• Sale of goods Sal88 of 3ervice8 by beneficiaries Chantabb rental income oth¢r inwme 26,752 2,952 35.970 2.825 33.983 2,967 35,225 2,891 68,499 75, 13-
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 Income from Investments untrIcted Unrvtrlct8d funds funds 2024 2023 Inleresl TNable 8,674 Expendlture on charltable actlvltles Charltoble actlvltle• 2024 Charbtsble a¢llvltle• 2023 Drrect C08ts Clergy expen5 Church bulding- Councl tax Expenses for property let out Church bulding- Maintenance and insurance Purchase of library book3 Payments relabng lo ¢haritsblp 8¢tiviti98 Candba and ChUh H811 expenditurg Sundry expenses 19,866 1,329 7,025 11,739 3,352 45,653 8,874 4,243 17,4CM) 1,733 15,182 5.665 43.314 8,728 5,303 102,081 106.785 Grant fvnding gf activrti98 Iseg nots n 24,907 38,899 Share ol support and governance costs l•ee note 81 Support Governan 34,749 29,714 34.913 24.164 191,451 204,761 Analysis by fund Unrestri¢led funds 191,451 2C4,761 Grants payab Charltable Charftable Expendrlur• Expenditure 2024 2023 Grants to in8lrtutions'. Donatlgns lo institubons 10,907 24,167 Donations to 1ndN1dlS 14,000 14,732 24.907 38,899 14-
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 Grants payabl Icontinugdl Ch81it8bb Expen¢Jrfure During the year, Orthodox Cornmunity made thari18e contribution5 totalling £10,907 tD the in51itutions. The grarbts cDmpri8ed £7,007 to Greek Othodox ARC, £1,000 each to Edinburgh Helleni¢, Saint AThdrew8 Orthodox and The Communty of S. £500 to the Orthodox Monastery, and £200 each to Freedom from Torlure and R¢leas¢ Inl¢mational. The granl to Ihe IndklUa1 are to a5slst the members with finandal dlfflcuty. Support allotat•d to aeti¥ib•• 2024 2023 Telephone and ts¥ Sl8tionery and printing Bank ch8rg8S Ttavel and 5ub5i5tence Running cost- utilities AccomodalKJn Costs Governan(e costs 928 844 133 11,966 20,879 13,139 16.574 857 357 283 11,252 22,164 24.164 64,463 59,077 Analysed befvn.. Charitabk actIve9 64,463 59.077 G0Manc w¥1¥ indude payments tg the auditor¥ of£5,40012023- £5.400} for au¢Jit fee5. Net movement In lunds 2024 2023 The net mvement in funds 18 Stated after chargingllc¥editing1= Fees payable forth¢ aLKlit of the charity's ffinancial statements 5,400 10 Employee8 The averag8 morthty number ofernpbyee5 during the year wa5.. 2024 Number 2023 Number Tol81 The key management personnel ofthe chaity are the Trustees onty. 15-
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employ8es Icontinuedl There were no employees whose annual rernuneralion was more than £60.000. 11 Taxatlon The charity is exempt from tsxation on its activities be¢ause 811 118 inwrne 18 applied for charitable purposes. 12 Tangible fixed assets Frgghold lad and bulldlttg8 Motor vohl¢l•8 Total Cost or valuation At 1 January 2024 Additions 1,797,003 690,976 1,797,003 706,610 15,634 At 31 De¢ember 2024 2,487.979 15.634 2.503.613 Carrying amount At 31 Dember 2024 2,487,979 15,634 2,503,613 At 31 Dernber 2023 1,797,003 1.797.003 2024 2023 Freehold 2,487,979 1,797,003 Land and building8 With a carrying amount of £2.487.979 were revalued at 31 Dernber 2024 by Trustees with the assistance of local professional valuers on the basis of market value. The valuation was based on recent market tian5actions on arm's length tertns for Similar pioperties. At 31 December 2024. had the revalued assets been carried at historic cost less aceumulated deptIatIOn and accurnulated impairment losses, their carrying atnount would have been approximately £2,487,97912023 £1,797.0031. 13 Investment property 2024 Fair value At 1 January 2024 and 31 December 2024 725,000 16 Dottumènt Rèt. NAEJH£HZH&UWFFF.BUNMG
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 13 Inv••tmgnt property Icontinugdl Investment property comprises tsvo flats and a house. The fair value ol the investment propety has been arrived at on the basis ol a v8hJation carried out at 31 December 2024 by the Trustees based on valuation provided by professional valuers. The vakjalion was made on an open market valu? basis by referen¢e to market evidence of transaction prices for simlar properties. The rryIng vae of land induded in inve8lm¢nt properties comprises.. 2024 2023 FehOld Long hasehohj 210,000 515,000 210,W) 515,OCX) 725,000 725,OQMJ 14 Dgbtorj 2024 2023 Amounts falllng du• wlthln on• y•ar'. Prepayments and accrued incorne 38.475 184.410 16 Cr•dltora'. amounts falllng du• wlthln onè yèar 2024 2023 Accruals and d8ferr8d InCc 21,589 16 Unrgstrlctgd lunds At 1 January 2024 Incomlng IoUrceS R•$ouree8 expended At31 December 2024 General fund8 Revaluab'on r08eNe 3,470,714 400,OC 192,490 1191,4S11 3.471,753 400,OCM) Pr•vlou• y•ar. At 1 January 2023 Incomlng R•8ourc oureeb •Xnded At31 Doe•rnber 2023 General fund$ Revaluation reserve 2.973,032 400,OCIJ 702,443 1204,7611 3.470,714 4tN),ooxJ 17
THE EDINBURGH ORTHODOX COMMUNITY OF ST ANDREW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 17 Related party tranSacOn5 Th¢r¢ W¢ no disdosabl¢ rrlat¢d party tBnsa¢bons during1h¢ y¢ar12023- nong). 18 Cash generated from operntlo 2024 2023 Surplus for th? yr 1,039 497,682 Adjusbnents for. lThveslment income reo)gni8ed in statemeThl of )Inancl actIveS {8.8741 Movgmpnts In worklnq ¢aplto1: Decre85ellificreasel in debtor5 Inttease in creditors 125,935 18,189 112,4421 Cash generated from operntlong 134,489 485.240 19 Anaty8Is of changès In n•t fund• Th8 Charity had no matarf81 dabt during thè y88r. 18-
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