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← True Jesus Church Of Edinburgh

2025-08-31-accounts

TRUE JESUS CHURCH IN EDINBURGH

FINANCIAL STATEMENTS

FOR YEAR ENDED 31 August 2025

Charity Number SC002215

WHITELAW WELLS Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT

TRUE JESUS CHURCH IN EDINBURGH

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

CONTENTS PAGE
Members of the Board Annual Report 2 - 6
Independent Examiner’s Report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 18

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TRUE JESUS CHURCH IN EDINBURGH

MEMBERS OF THE BOARD ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

The Members of the Board are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ending 31 August 2025.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Trust Deed, and 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

The objectives of the Church are as follows:

These objectives are met through regular meetings for worship where they are preached to the congregation.

Volunteers

Many volunteers give up their time to help out at the church, particularly at weekends and in the evenings. The Board is greatly indebted to these volunteers for their commitment and support.

Grant Making Policy

The Church Board operates a policy to contribute a proportion of its income to the General Assembly of the True Jesus Church, United Kingdom on an annual basis at a level set by the General Assembly and to other religious organisations as it sees appropriate on an ad hoc basis. The Board reviews the level of the contributions each year to other religious organisations.

ACHIEVEMENTS AND PERFORMANCE

During the year the church met regularly for worship and carried out various activities in pursuit of the above stated aims. Significant highlights, events and developments of note in the year include:

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TRUE JESUS CHURCH IN EDINBURGH

MEMBERS OF THE BOARD ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

During the year the church held one wedding ceremony and one member received water baptism.

FINANCIAL REVIEW

The net expenditure for the year, which are the deficit reserves of the Church, was £93,207 (2024: surplus of £154,735). The church received total income of £477,194 (2024: £387,826) and £437,579 (2024: £150,701) was applied in making donations.

At the balance sheet date the unrestricted reserves were £947,997 (2024: £1,041,204). There were restricted reserves of £NIL (2024: £NIL) and permanent endowment reserves of £70,000 (2024: £70,000).

Principal sources of funding

The Church receives the majority of its funding from those in the fellowship by way of weekly offerings and from general donations. The church does not organise specific activities for the purpose of raising income.

Reserves Policy

The Reserve fund represents the unrestricted and restricted funds arising from past operating results. The unrestricted funds represent the free reserves of the church. The Church Board have examined the requirement to maintain free reserves and are aware that they are holding a relatively large amount of unrestricted funds. However, such funds are necessary for the continued maintenance of the church building and the future expansion of the church. £10,000 of the unrestricted reserve is committed in the form of loans to other True Jesus Churches to enable them to purchase their own church property.

Investment Policy

The reserves are currently held in cash, which the Church Board feel is appropriate given the continuing volatility of the stock market. The Board will keep this policy under review.

Risk Management

The Members of the Board have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate the exposure to the major risks.

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TRUE JESUS CHURCH IN EDINBURGH

MEMBERS OF THE BOARD ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

PLANS FOR FUTURE PERIODS

The Church plans to continue the regular activities outlined above subject to satisfactory income arrangements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status of Charity, Governing Document and Affiliation

The Church, which is a registered charity with the Office of the Scottish Charity Regulator, is an unincorporated association governed under the rules of its constitution dated June 1988. The Church is affiliated to the General Assembly of the True Jesus Church, United Kingdom.

Management, Appointment and induction of the Church Board and Executive Committee

At the Annual General Meeting of Members, up to eleven church members are elected to form the Church Board and to carry out the administrative functions of the Church. Each member of the Board serves for a period of three years but is eligible for re-election for any number of terms. All Board members are honorary. Three of the board members serve as the Executive Committee Members of the three sections: Religious Affairs, General Affairs and Financial Affairs.

The current Trustees have held their posts for several years and are fully conversant with the work of the charity. Should a Trustee leave between AGMs then the remaining Trustees will meet to appoint a new Trustee based on their skills and experience. The existing Trustees will mentor the new Trustee until they are familiar with the day to day workings and aims of the charity, and they will be given the opportunity to contribute fully to any management issues that are brought to the attention of the Board.

Organisational Structure

The members of the Church are any persons, over 18, baptised in the True Jesus Church and they are eligible to speak, vote, elect and be elected to the Church Board at the General Meeting of Members.

The Church Board are responsible for the management of the Church and this is executed by the Church Executive Committee.

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TRUE JESUS CHURCH IN EDINBURGH

MEMBERS OF THE BOARD ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

LEGAL AND ADMINISTRATIVE INFORMATION

Charity registration number SC002215 Registered charity name True Jesus Church in Edinburgh Board members Mr Lik Chun (Eddie) Chan (General Affairs, from 01/01/2026) Mr Sam (Chung Pok) Chan Mr Peter Ho (General Affairs, until 31/12/2025) Mr Andrew Shek (Religious Affairs) Mr Paul Leung (Financial Affairs) Mr Wong Fat (Steven) Shek Mr Michael (Zephaniah) Hsu Mrs Shui Chun Shek (Deborah Chan) (Resigned 31/12/2025) Mr Gen Fun (Jimmy) Chan Mrs Agnes Hsu Miss Sze Ling (Sharon) Chan Mr Jeremy Chan (Appointed 01/01/2026) Secretary Mr Peter Ho (until 31/12/2025) Mr Lik Chun (Eddie) Chan (from 01/01/2026) Registered office & address 15a East Fettes Avenue Edinburgh EH4 1DL Independent examiner Louise Presslie CA Chartered Accountant Whitelaw Wells 9 Ainslie Place Edinburgh EH3 6AT Solicitors Peterkin & Kidd WS 8 High Street Linlithgow EH49 7AF Bankers The Royal Bank of Scotland Edinburgh West End Office 142-144 Princess Street Edinburgh EH2 4EQ

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TRUE JESUS CHURCH IN EDINBURGH

MEMBERS OF THE BOARD ANNUAL REPORT

YEAR ENDED 31 AUGUST 2025

RESPONSIBILITIES OF THE MEMBERS OF THE BOARD

The Members of the Board are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:

The Members of the Board are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

The Members of the Board are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board on 5 April 2026 and signed on their behalf by

Lik Lik Chun (Eddie) Chan Chun (Eddie) Chan

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TRUE JESUS CHURCH IN EDINBURGH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

YEAR ENDED 31 AUGUST 2025

I report on the financial statements for the year ended 31 August 2025 set out on pages 8 to 18.

Respective responsibilities of trustees and examiner

The charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention:

have not been met; or

Louise Presslie CA Chartered Accountant Whitelaw Wells 9 Ainslie Place Edinburgh EH3 6AT

Date: 5 April 2026

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TRUE JESUS CHURCH IN EDINBURGH

INCOME AND EXPENDITURE ACCOUNT (INCORPORATING STATEMENT OF FINANCIAL ACTIVITIES)

YEAR ENDED 31 AUGUST 2025

Permanent Permanent
Un-
Endow-
2025		 2024
Note restricted Restricted
ment
Total		 Total
£
£
£
£		 £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 362,989 85,928 - 448,917 360,838
Investments 28,277
 -

 -
 28,277
 26,988
Total Income 2 391,266 85,928 - 477,194 387,826
EXPENDITURE ON:
Charitable activities 250,705 319,696 - 570,401 233,091
Total Expenditure 3 250,705 319,696 - 570,401 233,091
NET (EXPENDITURE)/ INCOME 140,561 (233,768) - (93,207) 154,735
Transfer between funds (233,768) 233,768 - - -
Net movement in funds (93,207) - - (93,207) 154,735
RECONCILIATION OF FUNDS
Funds brought forward at
1 September 2024
1,041,204 - 70,000 1,111,204 956,469
Funds carried forward at
31 August 2025 947,997 -
 70,000
1,017,997 1,111,204

The church has no recognised gains or losses other than the results for the year as set out above.

All activities relate to continuing operations.

The notes on pages 10 to 18 form part of these financial statements.

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TRUE JESUS CHURCH IN EDINBURGH

BALANCE SHEET

YEAR ENDED 31 AUGUST 2025

2025 2024
Note £ £ £
FIXED ASSETS
Tangible assets 7 99,289 92,331
CURRENT ASSETS
Debtors:amounts falling due in less than one year 8 53,912 37,620
amounts falling due in greater than one year 9 10,000 10,000
Cash at bank and in hand 911,710 1,002,305
975,622 1,049,925
CREDITORS:amounts falling due within one year 10 (56,914) (31,052)
NET CURRENT ASSETS 918,708
 1,018,873
TOTAL ASSETS LESS CURRENT LIABILITIES 1,017,997 1,111,204
FUNDS
Unrestricted: General Fund 11 601,102 667,697
Designated Fund 11 346,895 373,507
947,997 1,041,204
Restricted Funds 11 - -
Restricted Fund – Permanent Endowment 11 70,000 70,000
1,017,997 1,111,204

These financial statements were approved by the members of the board on 5 April 2026 and are signed on their behalf by:

Paul Leung

The notes on pages 10 to 18 form part of these financial statements.

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

Basis of accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the Charities and Trustees Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) and 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 (FRS102) (effective 1 January 2019).

The charity has taken advantage of the exemption from the requirement to prepare a Statement of Cash Flows as permitted under FRS 102 and the Charities FRS 102 SORP.

The charity constitutes a public benefit entity as defined by FRS 102.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Offerings are included in the year in which they are receivable.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (cont.)

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which support the Trusts programmes and activities.

Fixed assets

Tangible fixed assets are initially recorded at cost. Items are not capitalised if expenditure is less than £250. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets over their expected useful lives on the following bases:

Heritable Property & Property Improvements - nil
Central Heating System - 10% straight line
Motor Vehicles - 25% straight line
Equipment - 25% straight line

Previously, motor vehicles and equipment were depreciated on a reducing balance basis, however it was agreed that the straight line basis would better reflect the useful lives of the assets, and the new estimates have been applied to these financial statements.

Heritable property has not been depreciated, which is not in line with 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 (FRS102) (effective 1 January 2019. The Church Board do not feel that the property is reducing in value and therefore have not applied any depreciation.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Unrestricted funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds

Designated funds are funds designated by the board for a specific purpose.

Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor.

Permanent endowment

The cost of heritable property is to be retained for the use of the Church indefinitely.

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

2.
INCOME
Unrestricted Restricted
£
£
Donations and Legacies
Offerings
286,620
-
Tax recovered on gift aid
49,083
-
Sundry Income, gifts and donations
27,286
84,426
Grants
-
1,502
Investments
28,277
-
391,266
85,928		 2025
£
286,620
49,083
111,712
1,502
28,277
477,194		 2024
£
252,930
33,274
71,132
3,502
26,988
387,826

Income was £477,194 (2024: £387,826) of which £391,266 (2024: £336,521) was unrestricted and £85,928 (2024: £51,305) was restricted.

3.
EXPENDITURE
Unrestricted Restricted
Funds
Funds
£
£
Grant Making – other donations
UK General Assembly donations
117,883
-
Other donations
4
-
319,696
Church Activities
Staff costs
5
-
-
Food
9,494
-
Utilities
25,604
-
Transport and motor expenses
4,736
-
Insurance
12,451
-
Postage and stationery
940
-
Telephone
1,512
-
Repairs and maintenance
54,051
-
Books and Publications
430
-
Spiritual Convocations
1,664
-
Religious education
1,323
-
Special meetings (including YTTC)
4,830
-
Other direct charitable costs
8,545
-
Depreciation of fixed assets
7
4,465
-
Governance:
Independent Examination cost
2,777
-
250,705
319,696		 2025
Total
£
117,883
319,696
-
9,494
25,604
4,736
12,451
940
1,512
54,051
430
1,664
1,323
4,830
8,545
4,465
2,777
570,401		 2024
Total
£
100,468
50,233
-
12,691
14,529
5,049
10,995
1,145
1,370
22,770
538
1,253
750
565
7,169
1,046
2,520

233,091

Expenditure was £570,401 (2024: £233,091) of which £250,705 (2024: £182,858) was unrestricted and £319,696 (2024: £50,233) was restricted.

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

4. OTHER DONATIONS PAID

Unrestricted Restricted
£
£
IA World Evangelism Fund
-
1,950
Essex Place of Worship Fund
-
4,705
UK General Assembly Building Fund
-
292,950
UK General Assembly Evangelism Fund
-
550
UK General Assembly Africa Ministry Fund
-
2,340
Glasgow Building Fund
-
14,601
UK General Assembly Church Building Development Fund
-
2,600
IA AMC Charity Fund
-
-
-
69,696		 2025
Total
£
1,950
4,705
292,950
550
2,340
14,601
2,600
-
319,696		 2024
Total
£
1,294
20,365
12,184
4,080
3,810
7,855
80
565
50,233

5. STAFF COSTS

The General Assembly of the True Jesus Church (U.K.) employs 7 ministers who visit churches and prayer houses across the U.K. and in other parts of Europe, including True Jesus Church in Edinburgh. The ministers’ salary costs are met entirely by the General Assembly and True Jesus Church in Edinburgh has no regular minister.

No employee earned more than £60,000 per year.

6. MEMBERS OF THE BOARD REMUNERATION AND RELATED PARTY TRANSACTIONS

During the year 6 (2024: 7) members of the board were reimbursed expenses relating to the general activities of the church amounting to £5,313 (2024: £3,581). No board member received any remuneration in the year (2024: £NIL).

During the year the members of the board donated a total of £58,812 (2024: £37,111).

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

7. TANGIBLE FIXED ASSETS

Heritable Prop
& Improvements
£
Cost
At 1 September 2024
88,920
Additions
-
Disposals
-
At 31 August 2025
88,920
Depreciation
At 1 September 2024
-
Charge for year
-
Eliminated on disposal
-
At 31 August 2025
-
Net Book Value
At 31 August 2025
88,920
At 31 August 2024
88,920		 Central
Motor
Heating
Vehicles Equipment
£
£
£
93,224
7,320
84,478
-
-
11,423
-
-
(1,174)
93,224
7,320
94,727
93,224
6,907
81,480
-
413
4,052
-
-
(1,174)
93,224
7,320
84,358
-
-
10,369
-
413
2,998		 Total
£
273,942
11,423
(1,174)
284,191
181,611
4,465
(1,174)
184,902
99,289
92,331

Heritable property consists of the original cost of the heritable property in Edinburgh of £70,000, with improvement costs carried out totalling £18,920. The board consider the market value for the property to be in excess of the value shown.

8. DEBTORS: Amounts due in less than one year

Prepayments and accrued income
Other debtors – gift aid receivable		 2025
£
5,324
48,588
53,912
 2024
£
4,799
32,821
37,620

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

9. DEBTORS: Amounts due in more than one year

Loans to affiliated churches 2025
£
10,000
10,000		 2024
£
10,000
10,000

Loans to affiliated churches comprise: £10,000 (2024: £10,000) to the Cambridge prayer house.

The loans were made towards the purchase of new church buildings. The loans are interest free. By mutual agreement between the affiliated churches, repayment will become due at the earliest of sufficient funds becoming available to repay the loan or once the vacated premises of the respective churches have been sold. As there is no fixed repayment date these loans have not been discounted to their fair value as it is not known what term the loan will be repaid over.

10. CREDITORS : Amounts due in less than one year

Accruals
Other creditors		 2025
£
55,011
1,903
56,914		 2024
£
31,052
-
31,052

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

11. MOVEMENT IN FUNDS

At 1
September
2024
£
Unrestricted Funds
General fund
667,697
Designated funds:
Fixed asset fund
22,331
Church building fund
250,000
Church maintenance fund
101,176
1,041,204
Restricted funds
Church building maintenance
fund
-
UKGA church building fund
-
Other funds
-
Permanent endowment
70,000
TOTAL FUNDS
1,111,204		 At 31
August
Income Expenditure
Transfers
2025
£
£
£
£
391,266
(246,240)
(211,621)
601,102
-
(4,465)
11,423
29,289
-
-
-
250,000
-
-
(33,570)
67,606
391,266
(250,705)
(233,768)
947,997
16,232
-
(16,232)
-
42,950
(292,950)
250,000
69,696
(69,696)
-
-
-
-
-
70,000
477,194
(570,401)
-
1,017,997

Purpose of designated funds

The fixed asset fund represents the net book value of the fixed assets other than heritable property. The transfer from the general fund to the designated fund represents the net cost of additions to the fixed assets in the year.

The church building fund and church maintenance funds represent funds set aside in the year by the Trustees for the purchase of a new building and repair of the existing church.

Other designated funds represent funds passed to other organisations as decided by the trustees.

Purpose of restricted funds

The church building maintenance fund represents donations received and a grant from the Listed Places of Worship Scheme to cover the cost of the ongoing external maintenance project.

UKGA church building fund – represents donations payable to UKGA for its development of the building in Cramlington. The transfer represents a contribution from the general funds, as decided by the trustees.

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

11. MOVEMENT IN FUNDS (continued)

The other restricted funds represent monies received from donors specified for particular purposes. These funds have been passed on to various beneficiaries as per note 4.

The permanent endowment fund represents the cost of heritable property to be retained for the Church’s use indefinitely.

At 1
September
2023
£
Unrestricted Funds
General fund
518,369
Designated funds:
Fixed asset fund
16,924
Church building fund
250,000
Church maintenance fund
101,176
886,469
Restricted funds
Church building maintenance
fund
Other funds
-
Permanent endowment
70,000
TOTAL FUNDS
956,469		 At 31
August
Income Expenditure
Transfers
2024
£
£
£
£
336,521
(181,812)
(5,381)
667,697
-
(1,046)
6,453
22,331
-
-
-
250,000
-
-
-
101,176
336,521
(182,858)
1,072
1,041,204
16,637
-
(16,637)
-
34,668
(50,233)
15,565
-
-
-
-
70,000
387,826
(233,091)
-
1,111,204

12. NET ASSET RECONCILIATION

NET ASSET RECONCILIATION
2025
Unrestricted Restricted Total
£ £ £
Fixed assets 29,289 70,000 99,289
Cash at bank and in hand 911,710 - 911,710
Other net current assets 6,998 - 6,998
As at 31 August 2025 947,997 70,000 1,017,997

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TRUE JESUS CHURCH IN EDINBURGH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

12. NET ASSET RECONCILIATION (continued)

2024
Unrestricted Restricted Total
£ £ £
Fixed assets 22,331 70,000 92,331
Cash at bank and in hand 1,002,305 - 1,002,305
Other net current assets 16,568 - 16,568
As at 31 August 2024 1,041,204 70,000 1,111,204

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