**REGISTERED CHARITY NUMBER: SC004153** ## **Trustees' Report and** ## **Financial Statements for the Year Ended 31 December 2024** ## **for** **Glasgow Govan and Linthouse Parish Church of Scotland** Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Contents of the Financial Statements for the Year Ended 31 December 2024** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Trustees' Report**|2|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|17| **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Reference and Administrative Details for the Year Ended 31 December 2024** ## **TRUSTEES** ## **PRINCIPAL ADDRESS** ## **REGISTERED CHARITY NUMBER** ## SC004153 ## **INDEPENDENT EXAMINER** Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB ## **BANKERS** The Royal Bank of Scotland 36 St Andrews Square Edinburgh EH2 2YB ## **CHURCH INFORMATION** ## **OFFICE BEARERS** Page 1 **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Trustees' Report for the Year Ended 31 December 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Church of Scotland is Trinitarian in doctrine, Reformed in tradition, and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout the world. As a national church, it acknowledges a distinctive call and duty to bring the ordinances of religion to people in every parish of Scotland through a territorial ministry. It co-operates with other churches in various ecumenical bodies in Scotland and beyond. ## **ACHIEVEMENT AND PERFORMANCE** ## **Minister's Report on Charitable Activities** It used to be said that the wheels of The Church of Scotland moved slowly but surely, but that is no more. In a rapidly changing world and society, amidst speed of communication and technological innovation, along with changing attitudes, the norms and assumptions of the past are no more. Some would even question the purpose of the Church. However, despite this, the needs, issues and challenges faced by all people still require a Christian response, where faith, hope and love prevail - as the Scripture says. At GLPC our logo strapline says 'Loving God, Loving Govan.' These are words which give purpose and direction to who we are and all that we do. Translated, it means that through a variety of groups and activities we provide purpose, meaning and hope. It might be through our weekly art group, Shades of Wonder, or it could be via the monthly meeting of the Guild. Every Thursday the Meeting Place opens its doors and on Saturday's the long established Tea Room hosts regulars and newcomers alike. In the summer we organise The Wee Jaunt which takes us on a journey of encounter with others. Increasingly, too, we're seeking to support and develop family life as we've welcomed our Family Development Worker during the past year - with this putting Messy Church on the map. And, we continue with School Chaplaincy activities as we connect with all local Schools engaging relevantly with children, young people and their parents. Not forgetting the ongoing activity of our Uniformed Organisations - the Girls Brigade and Scouts. Apart from that, we're a Church which says every Sunday 'whoever you are, and wherever you've come from, be welcome in the name of Jesus.' That's a welcome which applies to everyone including the poorest and most marginalised and also those who seek Asylum and find themselves in Govan. But we're also a Church which not only follows Jesus, but walks in the footsteps of Rev. George MacLeod who - almost a century ago - famously proclaimed the gospel as well as practised social action within our community (with this leading to the establishment of the Iona Community). Today, that's translated into action as we work with our local MP to establish the Multibank initiative in Glasgow, with a base in Govan, as well as the creation of a Banking Hub. And, of course, we partner and work alongside a host of other organisations seeking to improve life and opportunity in Govan, for all. All of that goes on day-by-day, but there are occasions, too, where we seek to bring together all local Churches and faith groups to mark and celebrate the seasons of Lent and Easter, as well as Advent and Christmas, together with the time of Remembrance - all to provide an ongoing, unified, witness to all around. I could say more, and you can find out more via our social media feed on Facebook and Instagram. And, whilst our website is under re-construction, its home page still tells a story. And, of course, even although times are changing, at GLPC we seek to take the timeless truth of the Christian faith and present it and proclaim it relevantly in a language which is easy to understand. And so, if you're reading this, and have a caricature in mind of the Church, think again when it comes to GLPC. Then join with us, and find out for yourself! Last, but not least, to those who do know our story, and, are part of it: Thank-you! For, without your support - financial and otherwise - there would be nothing to report - even in these changing times! Page 2 **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Trustees' Report for the Year Ended 31 December 2024** ## **FINANCIAL REVIEW** ## **Financial position** The charity incurred a net deficit of £27,285 for the year ended 31 December 2024 (2023: surplus of £52,945). Increase in project expenses funded from the restoration fund and lack of legacies received, were the key factors affecting the net income and expenditure. Investment income increased by £3,814 mostly due to interest earned from investments. At 31 December 2024, total reserves stood at £521,442 (2023: £548,727) with £178,899 of these being unrestricted, free reserves (2023: £158,204), £337,629 being designated funds (2023: £355,294) and £4,914 being restricted funds (2023: £35,229). ## **Investment policy and objectives** Under powers given by the Church of Scotland (Properties and Investments) Order Confirmation Act 1994, the Church is permitted to invest in the Church of Scotland Investors Trust. Currently the church only has holdings in the Growth Fund. This fund is very largely equity-based and is intended for long-term investment. The fund is operated on a unitised basis and aims to provide capital growth. Units can be purchased or sold monthly. Income is distributed gross in May and November. The Fund is professionally managed by Newton Investment Management Limited, based in London. Ethical considerations form an integral part of the investment management process and the Trust is a member of the Church Investors Group (CIG), an ecumenical grouping of Churches and other charitable investors which lobbies companies and investment managers to encourage them to pursue more ethical policies. Investment is avoided in any company whose management practices are judged by the Trustees to be unacceptable. In particular, investment is avoided in any company substantially (15% or more of total turnover) involved in gambling, tobacco products, alcohol, armaments and other activities which are felt to harm society more than they benefit it. The yield on the Church of Scotland Investors Trust Growth Fund units was 2.32% (2023: 2.22%). The market value of the units increased during the year from £5.83 to £6.38. ## **Reserves policy** It is the Trustees policy to hold reserves to cover immediate needs and to facilitate the refurbishment of church buildings. The trustees estimate their required reserves to be £30,000. At 31 December 2024 the total reserves stood at £521,442 (2023: £548,727). Total unrestricted reserves, excluding those tied up in fixed assets, are £191,528 (2023: £188,498) comprising £178,899 (2023: £158,204) held in the general fund and £12,629 held in a designated funds for refurbishments within the restoration fund (2023: £30,294). The trustees are therefore satisfied that this reserve policy is currently being met. Funds in excess of the reserves policy will be reinvested in the development of the Church. Further information concerning the Church's purposes for, and where relevant the original source of the individual funds it holds are found in the notes to the accounts. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The Church is administered in accordance with the terms of the Quod Omnia Deed of Constitution. ## **Recruitment and appointment of new trustees** Members of the Kirk Session are the charity trustees. The Kirk Session members are the Elders of the church and are chosen from those members of the church who are considered to have the appropriate gifts and skills. The ordained Minister in a Charge is regarded as being a Charity Trustee, as well as being the Moderator of the Kirk Session. ## **Organisational structure** The Kirk Session, which meets six times a year, is responsible for spiritual and temporal affairs within the church. ## **Key management remuneration** Key management personnel of the charity are deemed to be the trustees. The trustees give their time freely. Page 3 Glasgow Govan and Llnthou•o Parfsh Church of Scotland TNstee8' Report forth8 Yoar Ended 31 December2024 STRUCTURE, GOVERNANCE AND MANAGEMEKr Rlgk mandg¢m¢nl The prindpal riyk fatmig th& congrgjalion i8 tha¢ ol an ￿￿Traged age PTufib of m8n*8rthip. Thi$ on Ih8 number of IP.08e conlrlbullno io Ihe work ol kne thartty. an kncraay8d tsk of reduc*d fln8￿jaI gMTVJ. The truste85 have laken 8t¢F4 in recent tirn5 to T￿lUC6 the of dwty in re￿tI)rt age of its buildlngs. It dIspos￿1 fh 8 requknng th, ar￿ rvFAa(xd a [[￿ bulkj, whkh ￿11 r8duco Igoiws on labrt. The ¢h2rfty adh8r8s lo buiklthty8 slrategy awefjd ty tho PrO￿ry of has c4te9orfsed tho n￿sItY of 00th building managed by tx)ngr8gelKn. As steps h&v8 been takgn ffi mc8nt y8ars to rtdu¢8 number of bulljings from Ihretr lo one. Futhw, extensive invbslment ha8 in r￿n1￿ tKJlklNJ 10 8n8ura 11 meets tho glro nBod$ of the cknity, 8nd ensurfw it * mor8 ￿n0m1(al to njn. Futhèr, ihe charity Is d6¥eWTrJ a W￿$lon 8tral8w *tich pro￿￿￿& th8 woffK of th8 &18rlty wlthln the locBJ communty, and tmiunues to contr5￿J18 lo the Irfg ol ￿￿1 8chrxiL5. grtyjps and organi5ab'oT* to bon6fit tho comThnity at larg8. Tru8ts91' r••pon¥1bllttl￿ In re￿lOn toth• finwdal stat•m•nt• The tNBtees aro r￿￿￿8rD1& lor weparing Ihe Tnole88' Anr•Jal Rewrt and tha fi￿nd01 ststem8nts In accordanly) wlth applicab￿ low and Unlled Kin9dcm ArrA)unUng Sl£ThY8rds (UNI￿ Gew87￿ Accopw ACC￿n￿ng Pr8cU(*l. The Trusiae$ have th0SBn lo prop8ro 8tatwnwts luly 8cuu8d ba515 whk* a Inje f* Y￿W of thg stats of af18irs of th8 GF%9rty and of th• SncthmirvJ rOswr￿S 8nO 8FOc8t%)n of reaourrmol charty I￿￿￿1 period. In prnpoilng tss8 nnandql slaterrnnts, tho bwstg88 aTe ry*od bx. - se￿¢1 8ullabl8 arLounb'ng 8ThJ then 8ppty ￿ ¢on8*tsntr. . Ob8erve th8 Met￿￿9 and In ￿ Chan"Ipos SORP.. . MakejudG¥neni$ and 8sllmalos thal ar8 reasOrL•￿ and rMud8nl.' . State wh8thp/ 8ptylcable acwunts'rty $tsndar¢$ have kIky￿, Butyct to any m8lwlo1 depa￿￿ and explalned h the Fthar￿￿l Stalerywts. . Prepare tho Flnandal Slalomants on Ihe gc4rwJ ur48BB In•pprowMe to pr￿rn• thBI ¢hartty I￿11 continue In bu8iness. The Tru$t8es are r8sponsfrA• l¢r ke*pFw proper acrtsJrfry retnrds th81 dlsdose r8890m￿e accuraw Ét 8ny the nancl81 posbuon of the ¢h8rtty and en8bl8 them to on9￿¥ that th8 Fina￿￿ Statsments oJrnply wth the Chari118S # Tru818e Inve5tmnt (S(¥￿$￿) Acl 21J05, the Chthlb$ Accounts (Scolandl RegUL8t￿n$ 2006 las W)8ndadl and the provis.'ons of tho th8rW8 wnstnulkn. Thoy qr¢ wpx)r$8lble for salryu8rdlng tho assets of the (J)arty and h¢nt* for t8￿￿9 roa8On8￿e stops fcf th8 pTrv8fttk)n ond d818clion of fraLxI gnd other iNe•larilk95. The TNslees are r8$pon$[￿a for the mginlenance and knTregiity of th8 ¢h8ftty and fin8nrJO1 In1ml￿ I￿uded w tho ¢hartys website. L&ulsl8lbn In the Unltéd ￿ngdoM 9￿￿TrI[¥d the prawauon and dtygemlnation 0¢ Slateftwts may dlffer frorn 10glslaJon In other luri8dktkn5. Approved by th8 Trustees on 8nd ￿91￿1 b8h4fby'. ## **Independent Examiner's Report to the Trustees of Glasgow Govan and Linthouse Parish Church of Scotland** I report on the accounts for the year ended 31 December 2024 set out on pages six to seventeen. ## **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 the independent examiner's report** My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented 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 connection with my examination, no matter has come to my attention : - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## Fellow of the Association of Chartered Certified Accountants Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB ## 31 March 2025 Date: ............................................. Page 5 ## **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
49,956
Other trading activities
3
18,032
Investment income
4
33,126
Other income
5
-
**Total**
101,114
**EXPENDITURE ON**
**Charitable activities**
6
Church and Community Activities
104,331
Net gains on investments
6,247
**NET INCOME/(EXPENDITURE)**
3,030
**RECONCILIATION OF FUNDS**
Total funds brought forward
513,498
**TOTAL FUNDS CARRIED FORWARD**
516,528|**Restricted**
**funds**
**£**
-
-
-
-
-
30,315
-
(30,315)
35,229
4,914|**2024**
**Total**
**funds**
**£**
49,956
18,032
33,126
-
101,114
134,646
6,247
(27,285)
548,727
521,442|**2023**
**Total**
**funds**
**£**
109,819
21,664
29,312
1,404
162,199
114,138
4,884
52,945
495,782
548,727| |---|---|---|---| ## **CONTINUING OPERATIONS** This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities in both years. Comparative figures for the previous year by fund type are shown in note 11. The notes on pages 8 to 17 form part of these financial statements. Page 6 Gla#g•w Govan and Llnthou80 Pirl$h Church of 5cottand Balance ShÉèt 31 D•cemb8r 2024 2023 FJXED ASSETS Tanalbb a￿ts Invoslments 12 13 325.0 72,464 325,000 6,21T 397.484 391,217 CURREMf ASSETS Deblor Cash at b8nk 14 4,617 124.271 7,525 151,305 128.888 158,830 CRED￿oR8 Amountsf811Ing d￿wIthin ￿ y 15 14,9101 11,3201 NET ¢URRENT AsseT8 123,978 157,51Q TOTAL ASSFfs LESS CURRENT LIABILMES $21,442 548.727 NET A8SETS 5Z1,442 548,727 FUNDS Unro$ldc18d bJnd5'. G8n8ral bJnd R8$teralbn Fund FIx4L% A8$el. Man&e 18 178,899 12.629 325,000 158,2Q4 30,2 32S.000 518.528 513,498 Re8Mtsted ftJTrJo 4,914 TOTAL FUN08 $21.442 548,727 The financial &tst8m¢nls wer• approvad by the Trnsloas and aulhoriiod for Issu• on wer8 ilgned on its behawby.. . .ZO.Zf #nd The notes on pago5 8 to 17fomi part of Iheog finang018tatomènts. **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1. ACCOUNTING POLICIES** ## **General information** Govan and Linthouse Parish Church ("the charity") is a Scottish unincorporated association governed by the terms of the Quod Omnia Deed of Constitution. It was registered as a charity in Scotland (registered number SC004153) on 13 October 1982. Its registered address is ## **Basis of preparing the financial statements** The accounts have been prepared under the historical cost convention, modified to reflect the inclusion of investments at market value, and in accordance with applicable accounting standards, 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), the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Regulations anent Congregational Finance approved by the General Assembly of the Church of Scotland in 2016. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy. The financial statements are presented in UK sterling, which is the charity's functional currency, and rounded to the nearest pound. There have been no changes to the basis of preparation this financial year or to the previous financial year's financial statements. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Financial instruments** The charity has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **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. Page 8 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church and halls to which two shop units are attached, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the Statement of Financial Activities in the period in which the liability arises. The manse which is vested in local trustees is included at cost. No depreciation is provided on the manse as both any depreciation charge and accumulated depreciation are not considered material because the asset has a very long useful life and the estimated residual value is greater than the carrying value of the asset. The manse is subject to an annual impairment review. Items costing less than £10,000 are not considered to be capital expenditure and so are charged as resources expended during the period. ## **Taxation** Glasgow Govan and Linthouse Parish Church of Scotland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation 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. ## **Fabric fund expenditure** The maintenance and up keep of the church buildings is managed by a Fabric Convener. Repairs to the value of five hundred pounds can be authorised by the Convener. Repairs over this value must be presented at Church Session Meetings to be agreed. More than one quote should be requested where appropriate. Any emergencies will be dealt with immediately and approval obtained at a later stage. Payment of small repair bills will be made from the General Fund. Payment of larger bills are settled by requesting transfer of funds from the capital held by the Church of Scotland Trustees in Edinburgh. ## **Investments** Investments held as fixed assets are stated at market value at the balance sheet date. ## **2. DONATIONS AND LEGACIES** |Donations
Gift aid
Legacies
Grants
Donations - Freewill Offering
Donations - Open Plate
Donations - Standing Order
Donations - Weddings/Funerals
Donations - Sunday School|**2024**
**£**
938
6,386
-
6,449
27,086
4,772
2,865
1,460
-
49,956|**2023**
**£**
1,414
9,515
54,274
5,769
28,785
3,487
1,625
950
4,000| |---|---|---| |||109,819| Page 9 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **3. OTHER TRADING ACTIVITIES** |**2024**
**£**
Clubs and events
1,159
Hires
11,403
Tearoom
5,470
18,032
**4.**
**INVESTMENT INCOME**
**2024**
**£**
Rents received
24,996
Dividend Income
1,534
Bank Interest
6,596
33,126
**5.**
**OTHER INCOME**
**2024**
**£**
Insurance claim
-
**6.**
**CHARITABLE ACTIVITIES COSTS**
**Direct**
**Support**
**Costs (see**
**costs (see**
**note 7)**
**note 8)**
**£**
**£**
Church and Community Activities
133,206
1,440
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
**2024**
**£**
Insurance
9,493
Light and heat
14,049
Telephone
825
Postage and stationery
2,929
Sundries
375
Flowers
-
Life & Work Magazine
35
Ministerial Expenses
6,337
Ministries & Mission Allocation
37,188
Presbytery Dues
4,774
Presentations
-
Fabric Expenditure
6,253
Cleaning Materials
6,837
Projects
26,103
Staff Costs
11,449
Payroll Fees
491
Water Rates
512
Bank Charges
474
Professional Fees
2,052
Council Tax
2,631
Carried forward
132,807|**2023**
**£**
1,400
12,933
7,331
21,664
**2023**
**£**
24,996
1,363
2,953
29,312
**2023**
**£**
1,404
**Totals**
**£**
134,646|**2023**
**£**
1,400
12,933
7,331| |---|---|---| |||21,664| |||**2023**
**£**
24,996
1,363
2,953| |||29,312| ||**2023**
**£**
8,932
11,105
2,197
1,818
489
82
168
6,023
34,832
2,434
189
19,897
5,028
2,309
4,617
445
1,441
509
102
2,571|| ||105,188|| Page 10 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** |**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES - continued**
Brought forward
Equipment
150th Anniversary
Warm Spaces Initiative
Christmas Excursion
**8.**
**SUPPORT COSTS**
Independent examination fee|**2024**
**£**
132,807
399
-
-
-
133,206
**2024**
**£**
1,440|**2023**
**£**
105,188
1,860
801
4,369
600| |---|---|---| |||112,818| |||**2023**
**£**
1,320| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** During the year one trustee (the Minister) received reimbursement of expenses totalling £5,640 (2023: £4,011). These were for travel and Manse council tax and other running costs. During the year a total of £7,726 (2023: £10,005) was donated to the congregation by Trustees. ## **10. STAFF COSTS** |Wages and salaries
The average monthly number of employees during the year was as follows:
Church Organist
Facilities worker|**2024**
**£**
11,449
11,449
**2024**
1
1
2|**2023**
**£**
4,617
4,617
**2023**
1
1
2| |---|---|---| No employees received emoluments in excess of £60,000. Page 11 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **10. STAFF COSTS - continued** All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipends and employer's contributions for national insurance, pension and housing and loan fund. Stipends are paid in accordance with the national stipend scale, which is related to years of service. For the year under review the minimum stipend was £31,642 and the maximum stipend (in the fifth and subsequent years of service) was £38,884. |**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
104,050
5,769
Other trading activities
21,664
-
Investment income
29,312
-
Other income
1,404
-
**Total**
156,430
5,769
**EXPENDITURE ON**
**Charitable activities**
Church and Community Activities
105,571
8,567
Net gains on investments
4,884
-
**NET INCOME/(EXPENDITURE)**
55,743
(2,798)
**RECONCILIATION OF FUNDS**
Total funds brought forward
457,755
38,027
**TOTAL FUNDS CARRIED FORWARD**
513,498
35,229
**12.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2024 and 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|**Total**
**funds**
**£**
109,819
21,664
29,312
1,404
162,199
114,138
4,884
52,945
495,782
548,727
**Freehold**
**property**
**£**
325,000
325,000
325,000|**Total**
**funds**
**£**
109,819
21,664
29,312
1,404| |---|---|---| |||162,199| |||114,138| |||4,884| |||52,945
495,782| |||548,727| Page 12 continued... Glasgow Govan and Linthouse Parish Church of Scotland Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ## 13. FIXED ASSET INVESTMENTS |Market value at 1 January
Gain/(Loss) on Revaluation
Market value at 31 December
The following investments were held:
Church of Scotland Investors Trust Growth Fund
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued Income
GCVS Payroll Account
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses
Deferred income|2024|2024|2023|2023| |---|---|---|---|---| ||£||£|| ||66,217||61,333|| ||6,247||4,884|| |||||| ||72,464||66,217|| |||||| |||||| |||||| ||72,464||66,217|| |||||| |||2024
£
4,227
390
4,617
2024
£
1,061
3,016
833
4,910||2023
£
5,694
1,831
7,525
2023
£
-
1,320
-
1,320| Deferred income comprises rental income received in 2024 which Glasgow Govan and Linthouse Parish Church of Scotland was not entitled to until the following year. ||2024|2023| |---|---|---| ||£|£| |At 1 January|-|-| |Deferred in year|833|-| |Released in year|-|-| |||| |At 31 December|833|-| |||| ## 16. LEASING AGREEMENTS At the reporting end date the charity had outstanding commitments from its commercial tenants for future minimum lease receipts under non-cancellable operating leases, which fall due as follows: ||2024|2023| |---|---|---| ||£|£| |Within one year|25,000|15,000| |Between one and five years|94,583|60,000| |In more than five years|146,250|161,250| |||| ||265,833|236,250| |||| Page 13 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Fixed assets
325,000
-
Investments
67,584
4,880
Current assets
128,854
34
Current liabilities
(4,910)
-
516,528
4,914|**2024**
**Total**
**funds**
**£**
325,000
72,464
128,888
(4,910)
521,442|**2023**
**Total**
**funds**
**£**
325,000
66,217
158,830
(1,320)
548,727| |---|---|---| ## **Comparatives for analysis of net assets between funds** ||||**2023**|**2022**| |---|---|---|---|---| |**Unrestricted**
**Restricted**|||**Total**|**Total**| ||**funds**|**funds**|**funds**|**funds**| ||**£**|**£**|**£**|**£**| |Fixed assets|325,000|-|325,000|325,000| |Investments|61,333|4,884|66,217|61,333| |Current assets|128,485|30,345|158,830|110,769| |Current liabilities|(1,320)|-|(1,320)|(1,320)| |||||| ||513,498|35,229|548,727|495,782| |||||| |**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Restoration Fund
Fixed Asset - Manse
**Restricted funds**
Elders Fund
Legacy - McNab Carruthers
National Lottery
**TOTAL FUNDS**|**At 1/1/24**
**£**
158,204
30,294
325,000
513,498
4,955
29,901
373
35,229
548,727|**Net**
**movement**
**in funds**
**£**
20,579
(17,549)
-
3,030
(75)
(29,901)
(339)
(30,315)
(27,285)|**Transfers**
**between**
**funds**
**£**
116
(116)
-
-
-
-
-
-
-|**At**
**31/12/24**
**£**
178,899
12,629
325,000
516,528
4,880
-
34
4,914
521,442| ## **18. MOVEMENT IN FUNDS** Page 14 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **18. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Restoration Fund
**Restricted funds**
Elders Fund
Legacy - McNab Carruthers
National Lottery
**TOTAL FUNDS**|**Incoming**
**Resources**

**resources**
**expended**
**£**
**£**
98,699
(84,367)
2,415
(19,964)
101,114
(104,331)
-
(75)
-
(29,901)
-
(339)
-
(30,315)
101,114
(134,646)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
6,247
20,579
-
(17,549)
6,247
3,030
-
(75)
-
(29,901)
-
(339)
-
(30,315)
6,247
(27,285)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
6,247
20,579
-
(17,549)
6,247
3,030
-
(75)
-
(29,901)
-
(339)
-
(30,315)
6,247
(27,285)| |---|---|---|---| ||||3,030
(75)
(29,901)
(339)| ||||(30,315)| ||||(27,285)| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
Restoration Fund
Fixed Asset - Manse
**Restricted funds**
Elders Fund
Glasgow District Council
Legacy - McNab Carruthers
Co-op Local Community Fund
Govan Housing Association
National Lottery
**TOTAL FUNDS**|**Net**
**movement**
**At 1/1/23**
**in funds**
**£**
**£**
125,014
33,940
7,741
21,803
325,000
-
457,755
55,743
4,955
-
400
(400)
31,296
(1,395)
1,276
(1,276)
100
(100)
-
373
38,027
(2,798)
495,782
52,945|**Transfers**
**between**
**funds**
**£**
(750)
750
-
-
-
-
-
-
-
-
-
-|**At**
**31/12/23**
**£**
158,204
30,294
325,000| |---|---|---|---| ||||513,498
4,955
-
29,901
-
-
373| ||||35,229| ||||548,727| Page 15 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **18. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|134,627|(105,571)|4,884|33,940| |Restoration Fund|21,803|-|-|21,803| ||156,430|(105,571)|4,884|55,743| |**Restricted funds**||||| |Glasgow District Council|300|(700)|-|(400)| |Legacy - McNab Carruthers|-|(1,395)|-|(1,395)| |Co-op Local Community Fund|-|(1,276)|-|(1,276)| |Govan Housing Association|-|(100)|-|(100)| |National Lottery|5,469|(5,096)|-|373| ||5,769|(8,567)|-|(2,798)| |**TOTAL FUNDS**|162,199|(114,138)|4,884|52,945| ## **19. TRANSACTIONS WITH RELATED PARTIES INCLUDING TRUSTEES** There were no transactions with related parties, other than those described under note 9. ## **20. PURPOSES OF FUNDS** General Fund - The Unrestricted, 'free reserves' of the Charity. Restoration Fund - A fund set up for the redevelopment of the Govan Cross Buildings. Fixed Asset - Manse - This represents the Net Book Value of the Manse purchased in 2019. Elders Fund - Set up for the future training and development of elders. Glasgow District Council - Grant towards the hire of a coach for a church away day. A second grant awarded in 2023 to hire a coach to attend a reception at the City Chambers to mark the Church's 150th Anniversary. Legacy - Ms McNab Carruthers - Legacy given towards the running of the Church under condition the funds are not used for Fabric repairs. Co-op Local Community Fund - Grant awarded to the Church community tea-room which operates on a Saturday between the hours of 11:00 & 14:00. The grant was awarded to purchase & replace items used in the tea-room to enhance the service offered to those who come along from the local community. Govan Housing Association - Grant awarded towards the Church's Warm Spaces Initiative. The church provided a warm space to the local community on a Thursday lunchtime & at the Community tea-room on a Saturday during the winter of 2023. National Lottery - Grant awarded towards the Church Warm Spaces Initiative. Also to hold a Community Film Festival. Page 16 continued... **Glasgow Govan and Linthouse Parish Church of Scotland** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **21. DONATIONS FOR CHARITY** During the year the Church held special collections and fundraising activities in support of other charitable causes and raised a total of £824 (2023: £1,075) as follows: |**Charity**
Souper Sunday (COS AIDS Program)
Harvest (Prince and Princess of Wales Hospice)
Lodging House Mission
Mulanje Mission Hospital
Govan Pantry
Turkey/Syria Earthquake Appeal
Centrepoint
Erskine Hospital|**2024**
**£**
395
66
50
212
101
-
-
-
824|**2023**
**£**
497
-
115
-
-
121
153
189
1,075| |---|---|---| All funds were distributed by the year end. ## **22. FUNDS HELD BY GENERAL TRUSTEES** The sum of £68,598 (2023: £65,469) is held by the Church of Scotland General Trustees on behalf of the Govan and Linthouse Parish Church. It is invested with the Church of Scotland Investors Trust. This balance is not included within the balance sheet which forms part of these statutory financial statements. This balance comprises the capital fund, the consolidated fabric fund and the temporary account. |**Fund**
Capital
Fabric - Revenue|**1 Jan 2024**
**Incoming**
**£**
**£**
45,725
-
19,744
3,361
65,469
3,361|**Outgoing**
**£**
-
(232)
(232)|**Transfers**
**£**
-

-
-|**31 Dec 2024**
**£**
45,725
22,873
68,598| |---|---|---|---|---| ## **23. CONTRIBUTION OF VOLUNTEERS** Volunteers play a key part in the running of the church. Members of the congregation sit on the Finance, Energy (Utilities) & Pastoral Care Committees. A Fabic Convenor looks after the fabric of the church & halls arranging for repairs & maintenance visits to be carried out. Volunteers give their time and efforts to the running the Girls Brigade Company. The weekly Saturday Community Tea-room which runs February to December is manned solely by volunteers from the congregation who provide home baking to sell. A team of volunteers welcome worshippers on s Sunday morning & provide member of the congregation with refreshments after the morning service. Page 17