REGISTERED COMPANY NUMBER: 05059031 (England and Wales)

REGISTERED CHARITY NUMBER: 1108369

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE GREEK ORTHODOX COMMUNITY THE TWELVE

APOSTLES HERTFORDSHIRE TRUST

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Cash Flow Statement

7

Notes to the Cash Flow Statement

8

Notes to the Financial Statements

9

to

15

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 December 2025. 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 objective and aims of the charity are:

To preserve and propagate the Christian Orthodox faith and traditions as contained in the Holy Scriptures, as practised in the life of the Church, as confirmed by the Ecumenical and local councils and as interpreted, preserved and taught by the Great Church of Christ, the Ecumenical Patriarchate of Constantinople.

To preserve the original language of the New Testament in Divine Worship and in the Ecclesiastical life of the faithful, and to minister to the people through canonical services conducted according to the order of the Great Church of Constantinople by canonical priests, and through sermons and through catechism and Greek Language Schools.

To establish schools for the teaching of Greek Orthodox education.

To receive into the Orthodox Christian faith, by Baptism or Chrismation, all those who freely decide and sincerely desire to adopt the Orthodox Christian faith, and to live in accordance with its spiritual and moral teaching.

To undertake charitable work for the benefit of those who need protection, assistance and medical care, to make grants to organisations (including schools and charities), to provide services (including care/counselling).

To support and to assist in the charitable objects of the unincorporated body known as The Greek Orthodox Community "The Twelve Apostles" Hertfordshire ( Registered Charity No:1049541).

The trustees are pleased to report that in their opinion the objectives were generally met.

Significant activities

The charity's significant activities are the Sunday services, weddings, christenings, baptism and funerals receptions.

Public benefit

The trustees confirm that they have complied with their duty to have regard to the guidance on public benefit published by the Charity Commission in exercising their function.

Volunteers

All trustees perform their duties on a voluntary basis. Ladies of the congregation help with ancillary duties, including community care, church functions and fundraising.

ACHIEVEMENTS AND PERFORMANCE

The results for the financial year of the charity are shown in the annexed financial statements. The Trust managed to collect additional donations from followers for the new Church extension that was under development.

The Trustees are optimistic that a further increase in donations received in the year end to 31st of December 2025 so that the new church extension to be finalised on time and with no financial constraints.

FINANCIAL REVIEW

Principal funding sources

The Charity generates income from a variety of sources, principally related to activities based in and around the Church. The majority of income is derived from donations, sales of candles, collections and fees for church services. In addition, the Charity normally organises two annual receptions, and other functions throughout the year which generate additional income.

Review of Charity's financial position

The results of the Charity are set out on Page 5-15. The Trustees applied the same controls on expenses, and the financial statements show a surplus of £20,729 (2024: £72,357). The Trustees are confident that the expenditures will be reduced and safeguard the Charity's ability to generate forthcoming income. The donations for the year decreased in total, as the Church did not make any major fundraising activities.

With effect from 1 July 2005 The Board agreed to accept delegation from The Greek Orthodox Community "The Twelve Apostles" Hertfordshire (Charity Registration Number 1049541) that all the operations for the Charity including all income, hire and letting of the premises, making all payments for running and administration.

Reserves policy

The Trustees reserves policy is to retain surplus funds to maintain sufficient working capital for the charity and its related charity.

FUTURE PLANS

The Community Board's aims are:

A To attract younger members to our community.

B To improve the church grounds.

C To promote attendance at our Saturday morning services in English.

D To find local accommodation suitable for community and pastoral needs.

E To increase the gift aid donations to repay the mortgage of the related charity.

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.

Recruitment and appointment of new trustees

The trustees of the charity who are also trustees of the unincorporated body The Greek Orthodox Community "The Twelve Apostles" Hertfordshire (Registered Charity No:1049541) must be members of the Community.

All members are eligible to stand for election. Applicants are appointed by voting and four are selected and appointed by his Eminence the Archbishop of Thyateira and Great Britain in consultation with the parish priest. The trustees will serve a term of two years. The trustees are familiar with the practical work of the charity.

Organisational structure

The charity is governed by its trustees who comprise the Community Board. The Community Board comprises the elected members of the unincorporated body known as The Greek Orthodox Community "The Twelve Apostles" Hertfordshire (Registered Charity No.1049541).

The members of the charity are the persons serving on the Community Board. Each person who is a member of the Community Board shall, at the time of this appointment to the Community Board, become a member of the charity and on ceasing to be a member of the Community Board, for any reason, shall at the same cease to be a member of the charity.

The Trustees meet ten times a year to administer the affairs of the charity. The Trustees elect a Chairman, a Vice-Chairman, a Treasurer and a Secretary to carry out day-to-day functions.

The presiding priest by virtue of his canonical ordination administers the priestly duties which consist in shepherding the Parish entrusted to his care, directing its orderly life, preserving its unity and keeping it faithful to its divine purpose.

The Trustees appoint sub-committees to develop, administer and promote fund raising, religious festivals and charitable causes.

Induction and training of new trustees

All trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the projections and recent financial performance of the charity. At the first board meeting the trustees will elect the Chair, Treasurer and Secretary. The Chair co-ordinates all the charity's activities including meetings, functions, fund raising committees and liaises with the priest and staff.

The Treasurer maintains the financial records, management reports, budgeting and the preparation of financial statements. The Secretary maintains the minutes and correspondence. All other trustees are on a rota for church services, candle sales, collections and fund raising.

Wider network

The charity is under the auspices of The Greek Archdiocese of Thyateira and Great Britain.

Related parties

The charity is governed by its trustees who are also elected members and trustees of The Greek Orthodox Community "The Twelve Apostles" Hertfordshire and donates a substantial amount of its surplus to the unincorporated body.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05059031 (England and Wales)

Registered Charity number

1108369

Registered office

Church Kentish Lane

Brookmans Park

Hatfield

Hertfordshire

AL9 6NG

Trustees

Archbishop Nikitas of Thyateira & Great Britain

Archbishop

L Loizou

Custodial Trustee-Chairman

D Habeshis

Management Trustee

Resigned 31 December 2025

M Pilina

Management Trustee

S A Savva

Management Trustee-Secretary

I Chronias

Management Trustee

Resigned 31 December 2025

E Kritikos

Management Trustee-Treasurer

C D Constantinou

Management Trustee

S Economou

Management Trustee

S Spyrou

Management Trustee

M Rodosthenous

Custodial/Management Trustee

T Liousas

Management Trustee

Resigned 31 December 2025

K Kyriakou

Management Trustee

Y Ioannou

Management Trustee

Resigned 31 December 2025

Y Yiasoumi

Management Trustee

Appointed 31 December 2025

A Gregoriou

Management Trustee

Appointed 31 December 2025

N P S Parpa

Management Trustee

Appointed 31 December 2025

Company Secretary

S A Savva

Independent Examiner

G Christoforou

AC Partners LLP

Chartered Accountants

869 High Road

London

N12 8QA

Solicitors

Nicholas & Co.

18 Wigmore Street

London

W1U 2RG

Bankers

Barclays Bank plc

33 Darkes Lane

Potters Bar

EN6 1BA

CHARITABLE DONATIONS

During the year under review, the charity donated £53,477 (2024: £32,500) to charitable causes, including net donations £36,022 (2024: £30,000) to the unincorporated charity The Greek Orthodox Community "The Twelve Apostles" Hertfordshire (registered Charity No. 1049541), £17,455 (2024: £2,000) to Greek Orthodox Archdiocese of Thyateira and Great Britain, £nil (2024: £500) to Essex Monastery and the balance of £5,830 (2024: £7,000) to other charitable causes.

Approved by order of the board of trustees on 11 May 2026 and signed on its behalf by:

L C Loizou - Trustee

Independent examiner's report to the trustees of The Greek Orthodox Community The Twelve Apostles Hertfordshire Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its 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 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I 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 accounts to be reached.

G Christoforou

The Institute of Chartered Accountants in England and Wales

AC Partners LLP

Chartered Accountants

869 High Road

London

N12 8QA

11 May 2026

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

2

396,962

-

396,962

443,689

Other income

406

-

406

87

Total

397,368

-

397,368

443,776

EXPENDITURE ON

Raising funds

3

58,105

-

58,105

77,319

Charitable activities

4

Managing and Administering Charity

59,307

-

59,307

39,500

Other

259,227

-

259,227

254,600

Total

376,639

-

376,639

371,419

NET INCOME

20,729

-

20,729

72,357

RECONCILIATION OF FUNDS

Total funds brought forward

705,285

-

705,285

632,928

TOTAL FUNDS CARRIED FORWARD

726,014

-

726,014

705,285

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

16,564

-

16,564

20,924

CURRENT ASSETS

Stocks

12

1,168

-

1,168

886

Debtors

13

775,475

-

775,475

775,807

Cash at bank

35,366

-

35,366

15,266

812,009

-

812,009

791,959

CREDITORS

Amounts falling due within one year

14

(6,059

)

-

(6,059

)

(7,598

)

NET CURRENT ASSETS

805,950

-

805,950

784,361

TOTAL ASSETS LESS CURRENT LIABILITIES

822,514

-

822,514

805,285

CREDITORS

Amounts falling due after more than one year

15

(96,500

)

-

(96,500

)

(100,000

)

NET ASSETS

726,014

-

726,014

705,285

FUNDS

17

Unrestricted funds

726,014

705,285

TOTAL FUNDS

726,014

705,285

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

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 May 2026 and were signed on its behalf by:

L C Loizou - Trustee

Cash flows from operating activities

Cash generated from operations

1

29,349

25,522

Interest paid

(5,500

)

-

Net cash provided by operating activities

23,849

25,522

Cash flows from investing activities

Purchase of tangible fixed assets

(250

)

(17,851

)

Net cash used in investing activities

(250

)

(17,851

)

Cash flows from financing activities

Loan repayments in year

(3,499

)

-

Net cash (used in)/provided by financing activities

(3,499

)

-

Change in cash and cash equivalents in the reporting period

20,100

7,671

Cash and cash equivalents at the beginning of the reporting period

15,266

7,595

Cash and cash equivalents at the end of the reporting period

35,366

15,266

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

20,729

72,357

Adjustments for:

Depreciation charges

4,609

4,027

Interest paid

5,500

-

Increase in stocks

(282

)

(138

)

Decrease/(increase) in debtors

332

(51,809

)

(Decrease)/increase in creditors

(1,539

)

1,085

Net cash provided by operations

29,349

25,522

2.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

15,266

20,100

35,366

15,266

20,100

35,366

Debt

Debts falling due after 1 year

(100,000

)

3,500

(96,500

)

(100,000

)

3,500

(96,500

)

Total

(84,734

)

23,600

(61,134

)

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

ALLOCATION AND APPORTIONMENT OF COSTS

Costs are allocated as general operating expenses unless they are in regard to specific activities generating income,in which case they are then allocated according to specific cost type.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Donations

169,031

226,483

Membership

3,740

3,720

Books

8,344

7,867

Other Functions

22,638

10,645

Candles

52,767

60,532

Services

88,403

79,750

Dinner and Dance

360

11,651

Ladies Auxiliary Functions

4

-

Greek Evenings

-

720

Collections

51,675

42,321

396,962

443,689

3.	RAISING FUNDS

RAISING DONATIONS AND LEGACIES

2025

2024

£

£

Candles

21,240

23,474

Services

34,989

40,291

Dinner and dance

-

10,896

Books

2,062

750

Greek Evenings

116

-

Church Trip

-

2,027

58,407

77,438

OTHER TRADING ACTIVITIES

2025

2024

£

£

Opening stock

866

747

Closing stock

(1,168

)

(866

)

(302

)

(119

)

Aggregate amounts

58,105

77,319

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

(see note

5)

£

Managing and Administering Charity

59,307

5.	GRANTS PAYABLE

2025

2024

£

£

Managing and Administering Charity

59,307

39,500

The total grants paid to institutions during the year was as follows:

2025

2024

£

£

The Greek Orthodox Community The Twelve Apostles Hertfordshire

36,022

30,000

Greek Orthodox Archdiocese of Thyateira and Great Britain

17,455

2,000

Essex Monastery

-

500

Non-charities

5,830

7,000

59,307

39,500

6.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Other resources expended

248,133

6,297

4,797

259,227

Support costs, included in the above, are as follows:

MANAGEMENT

2025

2024

Other

resources

Total

expended

activities

£

£

Wages

130,177

137,938

Social security

5,244

8,498

Pensions

8,318

8,804

Rent and rates

13,460

12,500

Insurance

7,880

7,690

Light and heat

9,599

12,255

Telephone

9,802

7,900

Postage and stationery

6,145

3,955

Sundries

175

170

Repairs and renewals

14,505

21,216

Computer expenses

12,146

2,825

Travelling

23,073

15,883

Accountancy Fees

3,000

3,000

Depreciation of tangible and heritage assets

4,609

4,027

248,133

246,661

FINANCE

2025

2024

Other

resources

Total

expended

activities

£

£

Bank charges

797

926

Bank interest

5,500

-

6,297

926

GOVERNANCE COSTS

2025

2024

Other

resources

Total

expended

activities

£

£

Legal and professional fees

4,797

7,013

7.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Depreciation - owned assets

4,610

4,028

8.	TRUSTEES' REMUNERATION AND BENEFITS

During the year Theodoros Liousas, a trustee of the company received £4,000 (2024: £3,700) for his services as a Chanter of the Church. There were no other trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

9.	STAFF COSTS

2025

2024

£

£

Wages and salaries

130,177

137,938

Social security costs

5,244

8,498

Other pension costs

8,318

8,804

143,739

155,240

The average monthly number of employees during the year was as follows:

2025

2024

Priests

2

2

Secretarial

1

1

Administrative

3

3

6

6

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

443,689

-

443,689

Other income

87

-

87

Total

443,776

-

443,776

EXPENDITURE ON

Raising funds

77,319

-

77,319

Charitable activities

Managing and Administering Charity

39,500

-

39,500

Other

254,600

-

254,600

Total

371,419

-

371,419

NET INCOME

72,357

-

72,357

RECONCILIATION OF FUNDS

Total funds brought forward

632,928

-

632,928

TOTAL FUNDS CARRIED FORWARD

705,285

-

705,285