Scottish Charity No.SC004880
Kiltearn Free Church of Scotland
Trustees’ Report and Financial Statements For the Year Ended 31 December 2024
Kiltearn Free Church of Scotland
Contents of the Financial Statements for the year ended 31 December 2024
| Page | |
|---|---|
| Church Information | 1 |
| Report of the Trustees | 2 - 3 |
| Report of the Independent Examiner | 4 |
| Receipts and Payments Account | 5 |
| Statement of Balances | 6 |
| Notes to the Financial Statements | 7 |
Kiltearn Free Church of Scotland Church Information
Trustees
A list of active Trustees during 2024 is provided in the Trustees’ Report on Page 2.
Bankers
53 High Street Alness Ross-shire. IV17 0SH
Solicitors
Balfour & Manson, 54-66 Frederick St Edinburgh. EH2 1LS
Page 1
Kiltearn Free Church of Scotland
Report of the Trustees
The Trustees are pleased to present their report together with the financial statements of the church for the year ended 31 December 2024.
Status of Charity and Governing Document
Kiltearn Free Church of Scotland is established by Constitution. It is a registered Scottish Charity (No. SC004880).
Aims and Affiliation
Kiltearn Free Church of Scotland is a congregation of the Free Church of Scotland working towards the common aims set out below. It is a Presbyterian church adhering in its worship and doctrine to the position of the Church of Scotland at the Reformation. The Free Church of Scotland has an explanatory document which explains the origins of the Church and which gives the historical background to the Church coming into being in 1843 and lists documents in which is embodied the constitution of the Church. The document is available on request from the Free Church of Scotland, 15 North Bank St., The Mound, Edinburgh, EH1 2LS.
The Free Church of Scotland currently has over 100 congregations in Scotland, as well as one in London and four in North America, and sister Churches founded by mission work in India, Peru and South Africa. The Church also has a seminary in Edinburgh for the training of ministers and other Christian workers and sustains an extensive missionary programme relative to the size of the church. The principal activity of the Church is the conduct of public worship and associated matters in the context of local congregations.
Dating from 1843 but with its roots in the Reformation, the Free Church of Scotland owes its distinctive title to its historical struggle to remain ‘free’ from state interference in its internal affairs. It has close and active relations with many other Reformed churches of Jesus Christ throughout the world and stands firmly in the tradition which accepts the Bible in its entirety as the Word of God and, therefore, derives its forms of teaching, worship, ministry and government from it. The main emphasis of our worship is the preaching of the gospel - the good news of a free and sovereign salvation through Jesus Christ alone.
The congregation is authorised by the Church to have a minister paid from central funds of the Church.
The church building and the minister’s manse are the property of the congregation and are held under the Church’s model trust deed.
Trustees and Office Bearers
The congregation is governed and administered by elected office bearers (all volunteers) and its minister. The Kirk Session, being the minister and elected elders, has responsibility for spiritual oversight, while the Deacons’ Court, composed of Kirk Session members plus elected deacons, oversees financial and property matters. Under Charity Law, the Deacons’ Court are deemed to be the trustees of the congregation as those with responsibility for day to day management and control. This is distinct from the role of property (congregational) trustees who are responsible only for holding property in trust.
The members of the Deacons’ Court (the Trustees) who served during the year were as follows:-
Page 2
Kiltearn Free Church of Scotland
Report of the Trustees
Appointment of Charity Trustees
The Kirk Session exercises its discretion in determining the most appropriate method of electing new Trustees (Elders and Deacons). Any election process must involve the communicant membership of the congregation. There is no fixed term for Trusteeship. Prior to their appointment, new Trustees would have served the Church for some time in various roles and would be familiar with the Church’s values, its aims and objectives as well as its day-to-day operations. As part of their induction programme, new Trustees are required to understand their statutory responsibilities as well as the responsibilities of their office within the congregation as elder or deacon.
Activities and Achievements
The congregation continued its commitment to support the National Free Church of Scotland both spiritually and financially.
In relation to congregational activities :
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Sunday services 11.00am and 6.00pm
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Pre-service prayer meeting, Sunday 5.30pm.
-
Weekly prayer meeting, Wednesday 7.30pm.
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Weekly men's prayer meeting, Monday 8.00am.
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Fortnightly women's online prayer meeting, Tuesday 7.30pm.
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Fortnightly women's online Bible study, Tuesday 7.30pm.
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Fortnightly women's in person Bible study, Thursday 3.00pm.
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A Sabbath School and a weekly Friday Club for children.
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A monthly men's meeting, Tuesday, and a monthly ladies' meeting, Monday, both 7.30pm.
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A monthly men's Bible Study was started on the first Tuesday of the month at 7.30pm.
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Regular monthly collection of fillers for Blythswood Care's "Shoebox Appeal" as well as a yearly congregational gathering to fill covered shoeboxes.
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Hugh MacIver, the senior elder sadly passed away at the end of the year.
-
George Macaskill resigned his office as assessor elder at the end of the year.
In relation to congregational funding :
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A small increase in donations from Church members via weekly offerings.
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Continued participation by church members in the Gift Aid Scheme.
-
A special collection to raise money for Blythswood Care.
Reserves
Results for the year
As a result of a deficit for the year of £8,452 the church held Unrestricted Funds amounting to £68,161. Unrestricted funds consisted of a General Fund amounting to £58,984, a designated Fabric Fund with a balance of £8,204, a designated Common Good Fund with a balance of £973 and £54,679 in Bonds.
The trustees are satisfied with the level of reserves retained by the charity.
On behalf of the Trustees
Clerk to the Deacon's Court
Dated: _______ 2025
Page 3
Kiltearn Free Church of Scotland
Report of the Independent Examiners to the Trustees for the year ended 31 December 2024
I report on the accounts of the church for the year ended 31 December 2024 which are set out on pages 5 to 7.
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. The charity trustees consider that the audit requirement of Regulation 10(1) (d) 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 statement
My examination is 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 seeks explanations from the trustees concerning 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 Examiners’ Statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name
Qualification M.C.I.B.S.
Address Date _______ 2025
Page 4
Kiltearn Free Church of Scotland
Receipts and Payments Accounts
For the year ended 31 December 2024
| For the year ended 31 December 2024 | ||||
|---|---|---|---|---|
| Unrestricted Funds | ||||
| General | Designated | Total | Total | |
| Fund | Funds | 2024 | 2023 | |
| Notes | £ | £ | £ | £ |
| Receipts | ||||
| Church Door Collections | 2,321 | 515 | 2,836 | 3,154 |
| Envelopes | 5,650 | 305 | 5,955 | 6,735 |
| Standing Orders | 12,388 | 6,546 | 18,934 | 14,210 |
| IT Payments | 9,642 | 16,330 | 25,972 | 14,735 |
| Bank & Investments Interest | 487 | 487 | 775 | |
| Tax Recovered under Gift Aid | 11,483 | 11,483 | 8,105 | |
| Donations | 70 | 70 | 195 | |
| Sale | 460 | 460 | - | |
| Insurance Payment | - | 5,000 | ||
| Total Receipts | 42,041 | 24,156 | 66,197 | 52,908 |
| Payments | ||||
| Payments for Charitable activities | ||||
| Remittances to Central funds | 40,848 | 40,848 | 36,250 | |
| Pulpit Supply and Communion Expenses | 2,164 | 2,164 | 887 | |
| Ministers Expenses | 5,904 | 5,904 | 5,826 | |
| Manse Council Tax | 3,093 | 3,093 | 3,012 | |
| Manse Expenses | 70 | 5,524 | 5,594 | 1,125 |
| Church & Manse Insurance | 2,543 | 2,543 | 2,246 | |
| Heat & Light | 1,165 | 1,165 | 1,168 | |
| Repairs & Renewals | 11,726 | 11,726 | 20,415 | |
| Other Charities | 200 | 600 | 800 | 1,400 |
| Sundry Expenses | 311 | 500 | 811 | 1,041 |
| Total Payments | 56,298 | 18,350 | 74,648 | 73,370 |
| Surplus for the year | (14,258) | 5,806 | (8,452) | (20,462) |
| Transfers | (300) | 300 | - | - |
| Net movement in funds after transfers | (14,558) | 6,106 | (8,452) | (20,462) |
| Total funds brought forward | 73,542 | 3,071 | 76,612 | 97,074 |
| Total funds carried forward | 58,984 | 9,177 | 68,161 | 76,612 |
| Represented by: | ||||
| Unrestricted funds | ||||
| General Fund | 58,984 | - | 58,984 | 73,542 |
| Designated Funds | ||||
| Fabric + Common Good Funds | - | 9,177 | 9,177 | 3,071 |
| 58,984 | 9,177 | 68,161 | 76,612 |
Page 5
Kiltearn Free Church of Scotland
Statement of Balances
As at 31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | £ | |
| Investments held at Cost | |||
| Bank & Cash in hand | |||
| Opening balance | 76,612 | 97,074 | |
| Surplus/(Deficit) for the year | (8,452) | (20,462) | |
| Closing balances | 68,161 | 76,612 | |
| Total of monetry assets held | 68,161 | 76,612 | |
| Reserves | |||
| Unrestricted funds | 58,984 | 73,542 | |
| Designated funds | 9,177 | 3,071 | |
| 68,161 | 76,612 | ||
| Statement of Assets held for Charitable purposes | |||
| Church & Manse | |||
| Fixtures & Fittings | |||
| Sub-total | - | - | |
| Less: | |||
| Outstanding loans | |||
| Total | - | - | |
| Statement of liabilities at 31 December 2023 |
Invoices due for payment
Approved by the Trustees on ____ 2025 and signed on their behalf by the undernoted: Pe
The notes form part of these financial statements.
Page 6
Kiltearn Free Church of Scotland
Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting Policies
Accounting Convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Charities Accounts (Scotland) Regulations 2006.
Basis of financial statements
The financial statements have been prepared on a receipts and payments basis.
Investments
As the accounts are prepared on a receipts and payments basis the investments are included at cost. Market Value of the investments is disclosed within the notes to the accounts.
Fixed Assets
A statement of the assets held is shown in the notes to the accounts. No depreciation has been applied as depreciation is a non-cash item and therefore should not be included in the receipts and payments account.
Receipts and Payments Account
For the purpose of the Receipts and Payments account as shown on page 5, funds are defined as follows:
Unrestricted funds comprise grants and other income received for the objects of the church without further specified purpose and are available as general funds.
Designated funds represent unrestricted funds which have been earmarked by the Trustees for particular purposes.
Restricted funds comprise income which has been received for the objects of the church and specified for a restricted purpose within these objects by the donor.
Page 7
Kiltearn Free Church of Scotland
Notes to the Receipts and Payments Accounts
For the year ended 31 December 2024
2. Tangible fixed assets
| Tangible fixed assets | |||
|---|---|---|---|
| Cost At 1 January 2024 Additions Disposals At 31 December 2024 |
£ - - - Heritable property |
£ - - - Fixtures & equipment |
Total £ - - - |
| - |
| 3. | Investments | 2024 | 2023 |
|---|---|---|---|
| £ | £ |
The congregation holds investments (cost)
Market Value of the investments
4. Transactions with Trustees
There were no transactions with trustees during the year.
5. No value has been inserted for the Church and Manse, as is recommended procedure.
| 6. Sundry Expenses Presbytery Dues Admin Fee (Gift Aid) Zoom Subscription Common Good Fund Assistance |
311 500 811 |
660 37 144 200 1,041 |
|---|---|---|
Page 8
Kiltearn Free Church of Scotland
Notes to the Receipts and Payments Accounts
For the year ended 31 December 2024
| 7. Unrestricted funds General Fund Designated funds: Fabric + Common Good Funds Total designated funds Total unrestricted funds |
Balance at 01.01.24 £ 73,542 3,071 3,071 76,612 |
Incoming resources £ 42,041 24,156 24,156 66,197 |
Resources expended £ (56,298) (18,350) (18,350) (74,648) |
Transfers £ (300) 300 300 - |
Balance at 31.12.24 £ 58,984 |
|---|---|---|---|---|---|
| 9,177 | |||||
| 9,177 | |||||
| 68,161 |
Explanation of funds
The General Fund encompasses all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.
The Designated Fabric Fund represents the money set aside by the Deacons' Court at the donor's request for the fabric of the buildings.
The Designated Common Good Fund represents the money set aside by the Deacons' Court at the donor's request for help for those with hardship.
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