The New Ionian Academy - Charities report - 19.1

The New Ionian Academy - Charities report - 19.1

THE NEW IONIAN ACADEMY - Company Information

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IRIS Accounts Production v19.1.1.57 Other Company accounts True False Pounds 1.6.18 31.5.19 31.5.19 FY A E Moss A E Moss FRS 102 Unaudited Large and medium-sized companies regime for accounts Full Charities SORP True True True False True False True iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure062547092018-05-31062547092019-05-31062547092018-06-012019-05-31062547092017-05-31062547092017-06-012018-05-31062547092018-05-3106254709ns0:CharitableCompanyLimitedByGuarantee2018-06-012019-05-3106254709ns15:PoundSterling2018-06-012019-05-3106254709ns0:Trustee12018-06-012019-05-3106254709ns11:CompanySecretary12018-06-012019-05-3106254709ns11:FRS1022018-06-012019-05-3106254709ns11:AuditExempt-NoAccountantsReport2018-06-012019-05-3106254709ns11:LargeMedium-sizedCompaniesRegimeForAccounts2018-06-012019-05-3106254709ns11:FullAccounts2018-06-012019-05-3106254709ns11:CharitiesSORP2018-06-012019-05-3106254709ns16:EnglandWales2018-06-012019-05-3106254709ns11:RegisteredOffice2018-06-012019-05-3106254709ns0:Trustee22018-06-012019-05-3106254709ns10:WithinOneYear2019-05-3106254709ns10:WithinOneYear2018-05-310625470922018-06-012019-05-31
REGISTERED COMPANY NUMBER: 06254709 (England and Wales)
REGISTERED CHARITY NUMBER: 1121263















Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2019
for
THE NEW IONIAN ACADEMY














THE NEW IONIAN ACADEMY
Contents of the Financial Statements
for the Year Ended 31 May 2019










Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 7

THE NEW IONIAN ACADEMY
Report of the Trustees
for the Year Ended 31 May 2019
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 2019. 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 2015).

OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the Orthodox Christian faith for the benefit of the public mainly, but not exclusively, through
commissioning and publishing commentaries, histories and other works based on Orthodox thought and
culture.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity was formed to serve as a vehicle for the dissemination of works explaining and advancing the
Orthodox Christian faith. Since its inception the charity has been engaged in producing books and articles on
the website www.orthodoxchristianbooks.com.

The Charity continues to publish books and articles for the website, with the possibility of producing one or
more hardback titles.

FINANCIAL REVIEW
Reserves policy
The Trustees consider that only modest reserves are required to meet the next 3 months expenditures.

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.

Organisational structure
The charity is managed by its Company Secretary who also creates the works for dissemination. He reports to
the full body of Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06254709 (England and Wales)

Registered Charity number
1121263

Registered office
East House Beech Hill
Mayford
Woking
Surrey
GU22 0SB

Trustees
A E Moss Trustee
A D Whyatt Retired Civil Servant

Company Secretary
A E Moss

Page 1
THE NEW IONIAN ACADEMY
Report of the Trustees
for the Year Ended 31 May 2019
Approved by order of the board of trustees on 22 November 2019 and signed on its behalf by:



A E Moss - Secretary
Page 2
THE NEW IONIAN ACADEMY
Statement of Financial Activities
for the Year Ended 31 May 2019
31.5.19 31.5.18

Unrestricted
fund		 Total
funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,370 6,433
Total 3,370 6,433

EXPENDITURE ON
Other 3,415 6,253
NET INCOME/(EXPENDITURE) (45 ) 180
RECONCILIATION OF FUNDS

Total funds brought forward 1,108 928
TOTAL FUNDS CARRIED FORWARD 1,063 1,108
The notes form part of these financial statements
Page 3
THE NEW IONIAN ACADEMY
Balance Sheet
At 31 May 2019
31.5.19 31.5.18

Unrestricted
fund		 Total
funds
Notes £    £   

CURRENT ASSETS
Cash at bank 1,063 1,198

CREDITORS
Amounts falling due within one year 4 - (90 )

NET CURRENT ASSETS 1,063 1,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,063
1,108
NET ASSETS 1,063 1,108
FUNDS 5
Unrestricted funds 1,063 1,108
TOTAL FUNDS 1,063 1,108
The charitable company is entitled to exemption from audit under
Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended
31 May 2019 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 special provisions of Part 15 of the
Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 22 November 2019 and were signed on its behalf by:




A E Moss -Trustee
The notes form part of these financial statements
Page 4
THE NEW IONIAN ACADEMY
Notes to the Financial Statements
for the Year Ended 31 May 2019
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 2015)', 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.

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.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2019 nor for the year
ended 31 May 2018.

Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2019 nor for the year ended
31 May 2018.

3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 6,433
Total 6,433
Page 5
THE NEW IONIAN ACADEMY
Notes to the Financial Statements - continued
for the Year Ended 31 May 2019
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
fund
£   

EXPENDITURE ON
Other 6,253
Total 6,253
NET INCOME/(EXPENDITURE) 180
RECONCILIATION OF FUNDS

Total funds brought forward 928
TOTAL FUNDS CARRIED FORWARD 1,108

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19 31.5.18
£    £   
Accrued expenses - 90

5. MOVEMENT IN FUNDS





At 1.6.18		 Net
movement in
funds

At 31.5.19
£    £    £   
Unrestricted funds
General fund 1,108 (45 ) 1,063

TOTAL FUNDS 1,108 (45 ) 1,063

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

Incoming
resources		 Resources
expended		 Movement in
funds
£    £    £   
Unrestricted funds
General fund 3,370 (3,415 ) (45 )

TOTAL FUNDS 3,370 (3,415 ) (45 )

Page 6
THE NEW IONIAN ACADEMY
Notes to the Financial Statements - continued
for the Year Ended 31 May 2019
5. MOVEMENT IN FUNDS - continued


Comparatives for movement in funds




At 1.6.17		 Net
movement in
funds

At 31.5.18
£    £    £   

Unrestricted Funds
General fund 928 180 1,108

TOTAL FUNDS 928 180 1,108
Comparative net movement in funds, included in the above are as follows:

Incoming
resources		 Resources
expended		 Movement in
funds
£    £    £   
Unrestricted funds
General fund 6,433 (6,253 ) 180

TOTAL FUNDS 6,433 (6,253 ) 180

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





At 1.6.17		 Net
movement in
funds

At 31.5.19
£    £    £   
Unrestricted funds
General fund 928 135 1,063
TOTAL FUNDS 928 135 1,063


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

Incoming
resources		 Resources
expended		 Movement in
funds
£    £    £   
Unrestricted funds
General fund 9,803 (9,668 ) 135
TOTAL FUNDS 9,803 (9,668 ) 135
6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 May 2019.

Page 7