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REGISTERED COMPANY NUMBER: NI603281 (Northern Ireland)
REGISTERED CHARITY NUMBER: 103740














Report of the Trustees and

Financial Statements

for the Year Ended 31 May 2023

for

St Ignatius Orthodox Church

St Ignatius Orthodox Church






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

St Ignatius Orthodox Church (Registered number: NI603281)

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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND 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 forms 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 MANAGEMENT
Governing document
The charity is controlled by its governing document, 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
NI603281 (Northern Ireland)

Registered Charity number
103740

Registered office
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

Trustees
Mr William Hunter Director
Mr Carsten Lorenz Director


St Ignatius Orthodox Church (Registered number: NI603281)

Report of the Trustees
for the Year Ended 31 May 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
McCleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

Approved by order of the board of trustees on 11 February 2024 and signed on its behalf by:





Mr William Hunter - Trustee

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 was carried out in accordance with the general Directions 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 as 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:

1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of Section 396 of the 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
4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) 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.








John McCleary FCA

McCleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

11 February 2024

St Ignatius Orthodox Church

Statement of Financial Activities
for the Year Ended 31 May 2023

31.5.23 31.5.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,226 5,977

EXPENDITURE ON
Charitable activities
Direct costs 4,781 4,359
Support costs 838 819
Total 5,619 5,178

NET INCOME/(EXPENDITURE) (2,393 ) 799


RECONCILIATION OF FUNDS
Total funds brought forward 9,841 9,042

TOTAL FUNDS CARRIED FORWARD 7,448 9,841

St Ignatius Orthodox Church (Registered number: NI603281)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 5 70 93

CURRENT ASSETS
Debtors 6 580 987
Cash at bank 7,572 9,499
8,152 10,486

CREDITORS
Amounts falling due within one year 7 (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 8
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 financial 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 keeps accounting records 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 as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


St Ignatius Orthodox Church (Registered number: NI603281)

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 11 February 2024 and were signed on its behalf by:





Mr William Hunter - Trustee





Mr Carsten Lorenz - Trustee

St Ignatius Orthodox Church

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. 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 1 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 Activities 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 as 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 be 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 useful life.


Fixtures and fittings - 25% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds 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.


St Ignatius Orthodox Church

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.5.23 31.5.22
£    £   
Depreciation - owned assets 23 32

3. TRUSTEES' REMUNERATION AND BENEFITS

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 May 2022.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricte
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 5,977

EXPENDITURE ON
Charitable activities
Direct costs 4,359
Support costs 819
Total 5,178

NET INCOME 799


RECONCILIATION OF FUNDS
Total funds brought forward 9,042

TOTAL FUNDS CARRIED
FORWARD

9,841


St Ignatius Orthodox Church

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022 and 31 May 2023 2,662
DEPRECIATION
At 1 June 2022 2,569
Charge for year 23
At 31 May 2023 2,592
NET BOOK VALUE
At 31 May 2023 70
At 31 May 2022 93

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 580 987

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Accrued expenses 774 738

8. MOVEMENT IN FUNDS
Net
movement At
At 1.6.22 in funds 31.5.23
£    £    £   
Unrestricted funds
General fund 9,841 (2,393 ) 7,448

TOTAL FUNDS 9,841 (2,393 ) 7,448

St Ignatius Orthodox Church

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended 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 At
At 1.6.21 in funds 31.5.22
£    £    £   
Unrestricted funds
General fund 9,042 799 9,841

TOTAL FUNDS 9,042 799 9,841

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 5,977 (5,178 ) 799

TOTAL FUNDS 5,977 (5,178 ) 799

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.6.21 in funds 31.5.23
£    £    £   
Unrestricted funds
General fund 9,042 (1,594 ) 7,448

TOTAL FUNDS 9,042 (1,594 ) 7,448

St Ignatius Orthodox Church

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 9,203 (10,797 ) (1,594 )

TOTAL FUNDS 9,203 (10,797 ) (1,594 )

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 May 2023.