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Company Registration Number: NI603281
Charity Number: 103740
 
 
 
 
St Ignatius Orthodox Church
 
Annual Report and Unaudited Financial Statements
 
for the financial year ended 31 May 2024
St Ignatius Orthodox Church
REFERENCE AND ADMINISTRATIVE INFORMATION

 
Trustees William Robert Hunter
Carsten Lorenz
 
 
Charity Number in Northern Ireland 103740
 
 
Company Registration Number NI603281
   
   
Registered Office Garvey Studios
  14 Longstone Street
  Lisburn
  Co. Antrim
  BT28 1TP
  Northern Ireland
   
   
Independent Examiner McCleary & Company Ltd
  Garvey Studios
  14 Longstone Street
  Lisburn
  Co Antrim
  BT28 1TP
  Northern Ireland



St Ignatius Orthodox Church
TRUSTEES' ANNUAL REPORT
for the financial year ended 31 May 2024

 
The trustees present their Trustees' Annual Report, combining the Directors' Report and Trustees' Report, and the unaudited financial statements for the financial year ended 31 May 2024.
 
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 2024. 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).
 
Mission, Objectives and Strategy
 
Objectives
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 reserved 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.
     
Financial Review
The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail.
     
Results and Dividends
At the end of the financial year the charity has assets of £10,924 (2023 - £8,222) and liabilities of £810 (2023 - £774). The net assets of the charity have increased by £2,666.
     
Trustees
The trustees who served throughout the financial year, except as noted, were as follows:
     
William Robert Hunter
Carsten Lorenz
   
In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.
     
Compliance with Sector-Wide Legislation and Standards
The charity engages pro-actively with legislation, standards and codes which are developed for the sector. St Ignatius Orthodox Church subscribes to and is compliant with the following:
The Companies Act 2006
The Charities SORP (FRS 102)
     
Approved by the Board of Trustees on 25 February 2025 and signed on its behalf by:
     
     
________________________________
William Robert Hunter
Trustee
     
________________________________
Carsten Lorenz
Trustee
     



St Ignatius Orthodox Church
STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the financial year ended 31 May 2024

 
The trustees, who are also directors of St Ignatius Orthodox Church for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations.
 
Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
 
The trustees confirm that they have complied with the above requirements in preparing the financial statements.
 
The trustees are responsible for keeping adequate 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 Companies Act 2006. 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.
     
     
Approved by the Board of Trustees on 25 February 2025 and signed on its behalf by:
     
     
________________________________
William Robert Hunter
Trustee
     
     
________________________________
Carsten Lorenz
Trustee
     



St Ignatius Orthodox Church

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ST IGNATIUS ORTHODOX CHURCH
 
We have examined the financial statements of the charity for the financial year ended 31 May 2024, which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
 
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or for this report.
 
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required.
 
It is our responsibility to:
examine the financial statements under section 65 of the Charities Act;
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
state whether particular matters have come to our attention.
 
Basis of independent examiner's report
We have examined your charity financial statements as required under section 65 of the Charities Act and our 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. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
 
In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect:
accounting records were not kept in accordance with section 386 of the Companies Act 2006
the financial statements do not accord with those accounting records
the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 (FRS102)
there is further information needed for a proper understanding of the accounts to be reached.
 
Independent examiner's statement
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
 
 
__________________________________
John McCleary FCA
MCCLEARY & COMPANY LTD
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
Northern Ireland
 
Date: 25 February 2025



St Ignatius Orthodox Church
STATEMENT OF FINANCIAL ACTIVITIES

for the financial year ended 31 May 2024
 
Unrestricted Total Unrestricted Total
Funds Funds Funds Funds
2024 2024 2023 2023
Notes £ £ £ £
Income
 
Donations and legacies 3.1 8,267 8,267 3,226 3,226
───────── ───────── ───────── ─────────
Expenditure
           
Charitable activities 4.1 5,601 5,601 5,619 5,619
    ───────── ───────── ───────── ─────────
Net income/(expenditure)   2,666 2,666 (2,393) (2,393)
           
Transfers between funds   - - - -
    ───────── ───────── ───────── ─────────
Net movement in funds for the financial year   2,666 2,666 (2,393) (2,393)
           
Reconciliation of funds:
Total funds beginning of the year 11 7,448 7,448 9,841 9,841
    ───────── ───────── ───────── ─────────
Total funds at the end of the year   10,114 10,114 7,448 7,448
    ═════════ ═════════ ═════════ ═════════
           
The Statement of Financial Activities includes all gains and losses recognised in the financial year.
All income and expenditure relate to continuing activities.



St Ignatius Orthodox Church

SUMMARY INCOME AND EXPENDITURE ACCOUNT
for the financial year ended 31 May 2024
 
 
 
Statement of 2024 2023
Financial Activities £ £
 
Gross income Unrestricted funds 8,267
─────────
8,267 3,226
───────── ─────────
Total income 8,267 3,226
Total expenditure (5,601) (5,619)
───────── ─────────
Net income/(expenditure) 2,666 (2,393)
═════════ ═════════
 
The charity has no recognised gains or losses other than the surplus for the financial year. The results for the financial year have been calculated on the historical cost basis.



St Ignatius Orthodox Church
Company Number: NI603281
BALANCE SHEET
as at 31 May 2024

 
2024 2023
Notes £ £
Fixed Assets
Tangible assets 7 - 70
───────── ─────────
 
Current Assets
Debtors 8 1,424 580
Cash at bank and in hand 9,500 7,572
───────── ─────────
10,924 8,152
───────── ─────────
Creditors: Amounts falling due within one year 9 (810) (774)
───────── ─────────
Net Current Assets 10,114 7,378
───────── ─────────
Total Assets less Current Liabilities 10,114 7,448
═════════ ═════════
Funds
General fund (unrestricted) 10,114 7,448
───────── ─────────
Total funds 11 10,114 7,448
═════════ ═════════
           
These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
For the financial year ended 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
           
The trustees confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit and loss for the 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 charity.
           
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard.
           
Approved by the Board of Trustees and authorised for issue on 25 February 2025 and signed on its behalf by
           
           
         
________________________________          
William Robert Hunter          
Trustee          
           
________________________________
Carsten Lorenz
Trustee



St Ignatius Orthodox Church
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. GENERAL INFORMATION
 
St Ignatius Orthodox Church is a company limited by shares incorporated in Northern Ireland. The registered office of the charity is Garvey Studios, 14 Longstone Street, Lisburn, Co. Antrim, BT28 1TP, Northern Ireland  The financial statements have been presented in Pound (£) which is also the functional currency of the charity.
       
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.
 
Basis of preparation
The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "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", applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP.
 
Statement of compliance
The financial statements of the charity for the financial year ended 31 May 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "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", applying Section 1A of that Standard.
 
Fund accounting
The following are the categories of funds maintained:
 
Restricted funds
Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.
 
Unrestricted funds
Unrestricted funds consist of a General Fund.

■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.
 
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.
 
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
 
Fixtures, fittings and equipment - 25% Reducing Balance
 
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors.
 
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.
 
Taxation and deferred taxation
The charity is exempt from corporation tax on its charitable activities.
           
3. INCOME
3.1 DONATIONS AND LEGACIES Unrestricted Restricted 2024 2023
  Funds Funds    
  £ £ £ £
           
Donations and legacies 6,768 - 6,768 2,641
Gift aid 1,499 - 1,499 585
  ───────── ───────── ───────── ─────────
  8,267 - 8,267 3,226
  ═════════ ═════════ ═════════ ═════════
             
4. EXPENDITURE
4.1 CHARITABLE ACTIVITIES Direct Other Support 2024 2023
  Costs Costs Costs    
  £ £ £ £ £
 
Expenditure on charitable activites 4,681 - 920 5,601 5,619
  ═════════ ═════════ ═════════ ═════════ ═════════
         
4.2 SUPPORT COSTS Charitable 2024 2023
  Activities    
  £ £ £
 
Depreciation - - 23
Profit/Loss on sale of an asset 70 70 -
Accountancy and legal fees 810 810 774
Bank Charges 40 40 41
  ───────── ───────── ─────────
  920 920 838
  ═════════ ═════════ ═════════
         
5. ANALYSIS OF SUPPORT COSTS
  Basis of 2024 2023
  Apportionment £ £
 
Depreciation Full - 23
Profit/Loss on sale of an asset Full 70 -
Accountancy and legal fees Full 810 774
Bank Charges Full 40 41
    ───────── ─────────
    920 838
    ═════════ ═════════
       
6. NET INCOME 2024 2023
  £ £
Net Income is stated after charging/(crediting):
Depreciation of tangible assets - 23
Deficit/(surplus) on disposal of tangible fixed assets 70 -
  ═════════ ═════════
       
7. TANGIBLE FIXED ASSETS
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 June 2023 2,662 2,662
Disposals (2,662) (2,662)
  ───────── ─────────
At 31 May 2024 - -
  ───────── ─────────
Depreciation
At 1 June 2023 2,592 2,592
On disposals (2,592) (2,592)
  ───────── ─────────
At 31 May 2024 - -
  ───────── ─────────
Net book value
At 31 May 2024 - -
  ═════════ ═════════
At 31 May 2023 70 70
  ═════════ ═════════
       
8. DEBTORS 2024 2023
  £ £
 
Other debtors 1,424 580
  ───────── ─────────
  1,424 580
  ═════════ ═════════
       
9. CREDITORS 2024 2023
Amounts falling due within one year £ £
 
Accruals and deferred income 810 774
  ═════════ ═════════
       
10. RESERVES
     
  2024 2023
  £ £
 
At the beginning of the year 7,448 9,841
Surplus/(Deficit) for the financial year 2,666 (2,393)
  ───────── ─────────
At the end of the year 10,114 7,448
  ═════════ ═════════
       
11. FUNDS
11.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Total
  Funds Funds
  £ £
 
At 1 June 2022 9,841 9,841
Movement during the financial year (2,393) (2,393)
  ───────── ─────────
At 31 May 2023 7,448 7,448
Movement during the financial year 2,666 2,666
  ───────── ─────────
At 31 May 2024 10,114 10,114
  ═════════ ═════════
             
11.2 ANALYSIS OF MOVEMENTS ON FUNDS
  Balance Income Expenditure Transfers Balance
  1 June     between 31 May
  2023     funds 2024
  £ £ £ £ £
Unrestricted funds
Unrestricted General 7,448 8,267 5,601 - 10,114
  ───────── ───────── ───────── ───────── ─────────
Total funds 7,448 8,267 5,601 - 10,114
  ═════════ ═════════ ═════════ ═════════ ═════════
         
11.3 ANALYSIS OF NET ASSETS BY FUND
  Current Current Total
  assets liabilities  
       
  £ £ £
 
Unrestricted general funds 10,924 (810) 10,114
  ───────── ───────── ─────────
  10,924 (810) 10,114
  ═════════ ═════════ ═════════
       
12. TRUSTEES' REMUNERATION
 
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.

There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
   
13. POST-BALANCE SHEET EVENTS
 
There have been no significant events affecting the Charity since the financial year-end.