Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
REGISTERED CHARITY NUMBER: SC005582
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2025
for
Edinburgh Gospel Trust
EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW
Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Contents of the Financial Statements for the Year Ended 5 April 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Reference and Administrative Details for the Year Ended 5 April 2025
TRUSTEES
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PRINCIPAL ADDRESS 1A House O'Hill Avenue Edinburgh EH4 5DB REGISTERED CHARITY SC005582 NUMBER INDEPENDENT EXAMINER EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW SOLICITORS Shepherd & Wedderburn LLP 9 Haymarket Square Edinburgh EH3 8FY BANKERS The Bank of Scotland Teviot House 41 South Gyle Crescent Edinburgh EH12 9DR
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Report of the Trustees for the Year Ended 5 April 2025
The Trustees have pleasure in presenting their report for the year ended 5 April 2024. This report is prepared in accordance with the Trust Deed and the recommendations 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 Ireland (FRS102) second edition issued October 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the Charity is the advancement of Christian religion. Regular preachings taking place each week and tracts and bibles are freely available to those who want them.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During the financial year 2024-2025 Edinburgh Gospel Trust continued to maintain its properties at Quality Street Lane and Station Road, South Queensferry for the benefit of the members of the Brethren and interested members of the public. Off street parking is provided where possible and the environment is cared for, respected and protected. Free booklets, Bibles and literature continue to be available for interested persons who make contact as a result of the street preaching or from personal interaction with members of the Brethren. Edinburgh Gospel Trust is committed to delivering clear public benefit through our charitable activities. We provide ongoing food support to Bethany Christian Trust throughout the year and have contributed to West Lothian Food Bank. We also supported RNLI, the Red Cross, and Cancer Research, reflecting our dedication to strengthening communities locally and nationally.
Additionally members of the Brethren spent many hours helping neighbours and giving a hand at other community institutions.
FINANCIAL REVIEW
Financial position
Total income from donations and legacies receivable in the year was £204,355 compared to £289,798 in the previous year. Expenditure decreased relative to the previous year by £65,861 to £102,904. There was a surplus of £123,830 for the year and net assets have increased to £2,755,282 The overall position is satisfactory and will allow the Trust to continue and develop its activities.
Reserves policy
Of the Trust's total reserves: £2,104,471 relate to fixed assets principally properties used to provide services for members of the congregation and £650,811 are represented by net current assets. Of the net current assets £1,618 relate to restricted funds leaving £649,193 (2024 - £958,396) of "free funds". The intention is that the majority of "free funds" be used in developing a new hall at the Milton Farm site, whilst retaining sufficient reserves to meet the running costs of the charity.
FUTURE PLANS
Despite the increased cost of energy, the trustees feel that these increased costs are not significantly impacting on the ability of the charity to continue as a going concern.
Over the coming years the Trust hopes to continue to provide and maintain facilities for the carrying on of the service of God and other meetings of a Christian religious character as well as any other charitable religious purposes connected with Brethren.
The Trust will be commencing the construction of a new meeting hall to ensure we are able to meet the future needs of the congregation.
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Report of the Trustees for the Year Ended 5 April 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, governance and management
-
The Trust was set up under a Deed dated 14 August 1995 as Edinburgh City Trust. The Deed was considerably amended on 7 February 2004 from which date the name was changed to Edinburgh Gospel Trust. The Trust deed was further updated in 2018. The management of the Trust is the responsibility of the Trustees who are appointed by a meeting of the congregation.
-
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances and they are satisfied that the systems are in place to mitigate exposure to major risks.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Under the Trust Deed and legislation relating to charities in Scotland, the Trustees are required to prepare financial statements for each financial year which show a true and fair view of the financial activities of the Trust and of the surplus or deficit for that year and which have been properly prepared from and are in agreement with the accounting records of the Trust and comply with the relevant disclosure regulations. In preparing those financial statements, the Trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Trust Deed. 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. All transactions have been reviewed and approved by two trustees.
07-01-2026 | 16:35 GMT
Approved by order of the board of trustees on .............................................. and signed on its behalf by:
.........
- Trustee
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Independent Examiner's Report to the Trustees of Edinburgh Gospel Trust
I report on the accounts for the year ended 5 April 2025 set out on pages five to twelve.
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
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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 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.
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The Institute of Chartered Accountants of Scotland
EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW 07-01-2026 | 16:38 GMT Date: .............................................
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Statement of Financial Activities for the Year Ended 5 April 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Property Upkeep NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 204,355 22,379 226,734 102,904 123,830 2,629,834 2,753,664 |
Restricted fund £ - - - - - 1,618 1,618 |
Year Ended 5/4/25 Total funds £ 204,355 22,379 226,734 102,904 123,830 2,631,452 2,755,282 |
Period 1/4/23 to 5/4/24 Total funds £ 289,798 16,532 |
|---|---|---|---|---|
| 306,330 | ||||
| 37,043 | ||||
| 269,287 2,362,165 |
||||
| 2,631,452 |
The notes form part of these financial statements
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Balance Sheet 5 April 2025
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----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|5/4/25|5/4/24|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Tangible|assets|7|2,104,471|-|2,104,471|1,671,438|
|CURRENT ASSETS|
|Debtors|8|27,484|-|27,484|22,485|
|Cash|at bank|626.151|1.618|627.769|950.994|
|653,635|1.618|655,253|973,479|
|CREDITORS|
|Amounts|falling due within one year|9|(4,442)|-|(4,442)|(13,465)|
|NET CURRENT ASSETS|649.193|1.618|650.811|960.014|
|TOTAL ASSETS LESS CURRENT|
|LIABILITIES|2,753,664|1,618|2,755,282|2,631,452|
|NET ASSETS|2.753.664|1.618|2.755.282|2.631.452|
|FUNDS|10|
|Unrestricted|funds|2,753,664|2,629,834|
|Restricted|funds|1.618|1.618|
|TOTAL FUNDS|—2.155,282|_2,631.452|
----- End of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on vesseeeeOZ=0.1 =2.0.2.6...| 16.1.3a5ndGwveTie signed on its behalfby: a
The notes form part of these financial statements
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in compliance 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 (FRS 102) second edition issued October 2019, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Accounts (Scotland) Regulations 2006 (as amended).
The financial statements have been prepared on the historical cost basis and relate solely to the individual entity. The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest pound. Edinburgh Gospel Trust meets the definition of a public benefit entity under FRS 102.
Financial reporting standard 102 - reduced disclosure exemptions
Only larger entities, as defined in the Charities SORP (FRS 102), must provide a statement of cash flows in their financial statements. Accordingly, as the charity is not a larger entity, it has not presented a statement of cash flows.
Judgements and key sources of estimation uncertainty
The management do not consider that there are any judgements (for those involving estimations see the following paragraphs) they have made in the process of applying the entity's accounting policies that will have a significant effect on the amounts recognised in the financial statements.
In the application of the Trust's accounting policies the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. As the estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis and those that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are set out below:
The residual value and useful economic life of fixed assets, particularly land and buildings, the carrying value of which can be found in Note 7 to the financial statements.
Income
With the exception of bank interest received essentially all of the charity's income, being donations and grants received, is categorised as income from donations and legacies. Such income is included once the charity becomes entitled to the resource, it is probable the income will be received and the income can be measured reliably.
Expenditure
As the Trust is not registered for VAT the expenditure is shown inclusive of VAT which is irrecoverable. 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 settlement will be required and the amount of the obligation can be reliably measured. All of the charity's expenditure is considered to be expenditure on charitable activities.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on furnishings and equipment at rates varying from 10% straight line to 25% per annum reducing balance to write off the cost, less estimated residual value over the expected useful life. No depreciation has been provided for in respect of the Trust's freehold land and buildings. It is the Trust's policy to maintain the property in such a condition that its value is not impaired by the passage of time. The trustees are of the opinion that the residual value of the property will be in excess of the net book value and as a consequence any element of depreciation would, in their opinion, be immaterial.
Taxation
The charity is exempt from tax on its charitable activities.
continued...
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
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 Treasury deposits and the notice period on our deposit account was 32 days.
Creditors and Provisions
Creditors and provisions are recognised where the Trust has a present obligation resulting from a past event that will probably result in a 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 Trust only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement amount.
Going Concern
The accounts have been prepared on a going concern basis which assumes the charity will continue in operation for a period of 12 months from the date of approval of the accounts. The Trustees do not consider that there are any material uncertainties about the charity's ability to continue as a going concern.
2. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations 204,355 |
Year Ended 5/4/25 Restricted Total funds funds £ £ - 204,355 |
Period 1/4/23 to 5/4/24 Total funds £ 289,798 |
|---|---|---|
All of the donations received in the previous year were unrestricted.
continued...
Page 8
Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
3. INVESTMENT INCOME
| Unrestricted funds £ Deposit account interest 22,379 4. CHARITABLE ACTIVITIES COSTS Property Upkeep 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Rates and water Insurance Light and heat Sundries Repairs and Maintenance Professional Fees Donations Other Professional Fees Conference Hosting Depreciation |
Year Ended 5/4/25 Restricted Total funds funds £ £ - 22,379 Direct Costs (see note 5) Support costs £ 101,714 £ 1,190 Year Ended 5/4/25 £ 3,622 4,892 5,563 2,013 10,243 2,340 1,592 2,196 61,729 7,524 101,714 |
Period 1/4/23 to 5/4/24 Total funds £ 16,532 Totals £ 102,904 Period 1/4/23 to 5/4/24 £ 9,959 1,771 4,788 2,332 2,053 933 1,399 5,119 - 7,549 |
|---|---|---|
35,903 |
The Trustees consider that the charity has a single charitable activity which is the advancement of Christian Religion.
Of the independent examiner's remuneration £1,190 (2024 - £1,140) related to the independent examination and preparation of the statutory accounts.
continued...
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the period ended 5 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the period ended 5 April 2024.
7. TANGIBLE FIXED ASSETS
| COST At 6 April 2024 Additions At 5 April 2025 DEPRECIATION At 6 April 2024 Charge for year At 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 |
Freehold property £ 1,641,566 440,557 2,082,123 - - - 2,082,123 1,641,566 |
Fixtures and fittings £ 78,320 - 78,320 48,448 7,524 55,972 22,348 29,872 |
Totals £ 1,719,886 440,557 |
|---|---|---|---|
2,160,443 |
|||
48,448 7,524 55,972 |
|||
| 2,104,471 | |||
1,671,438 |
The Trust owns two properties which are used to provide services for members of the congregation. One in Edinburgh and one in South Queensferry (Title Number WLN41330) and in addition own a site at Milton Farm, Kirkliston where they are currently constructing an additional Place of Worship.
continued...
Page 10
Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Tax Recoverable Loans Prepayments and accrued income |
5/4/25 £ 3,210 21,000 3,274 27,484 |
5/4/24 £ 8,800 - 13,685 22,485 |
|---|---|---|
Loans of £21,000 are due in relation to payments made for the Brethern Event, this is due to be repaid back to Edinburgh Gospel Trust within one year.
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors Accruals and deferred income MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Emergency Needs Funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 6/4/24 £ 2,629,834 1,618 2,631,452 Incoming resources £ 226,734 226,734 |
5/4/25 £ - 4,442 4,442 Net movement in funds £ 123,830 - 123,830 Resources expended £ (102,904) (102,904) |
5/4/24 £ 12,386 1,079 13,465 At 5/4/25 £ 2,753,664 1,618 2,755,282 Movement in funds £ 123,830 123,830 |
|
|---|---|---|---|---|
10. MOVEMENT IN FUNDS
continued...
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Emergency Needs Funds TOTAL FUNDS Comparative net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Emergency Needs Funds TOTAL FUNDS |
At 1/4/23 £ 2,360,240 1,925 2,362,165 follows: Incoming resources £ 306,330 - 306,330 |
Net movement in funds £ 269,594 (307) 269,287 Resources expended £ (36,736) (307) (37,043) |
At 5/4/24 £ 2,629,834 1,618 2,631,452 Movement in funds £ 269,594 (307) 269,287 |
|
|---|---|---|---|---|
Purpose of Restricted Funds
Emergency Needs Fund - This was to provide assistance, to include the provision of vouchers at local stores, to those in need for the duration of the current pandemic and any resultant economic downturn.
11. RELATED PARTY TRANSACTIONS
None of the trustees received any remuneration during the year or previous year for acting in the capacity as trustee. None of the trustees were reimbursed expenses during the year or previous year. Payments of £450,556 (2024 -£78,075) were made in the year to a company in which the brother of the Trustee is a director. The payments related to the development of the property at Milton Farm.
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Docusign Envelope ID: 0C49104B-F518-4283-BFEE-2B2143F532C7
Edinburgh Gospel Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2025
| Period | ||||
|---|---|---|---|---|
| 1/4/23 | ||||
| Year Ended | to | |||
| 5/4/25 | 5/4/24 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 204,355 | - | 204,355 | 289,798 |
| Investment income | ||||
| Deposit account interest | 22,379 | - | 22,379 | 16,532 |
| Total incoming resources | 226,734 | - | 226,734 | 306,330 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Rates and water | 3,622 | - | 3,622 | 9,959 |
| Insurance | 4,892 | - | 4,892 | 1,771 |
| Light and heat | 5,563 | - | 5,563 | 4,788 |
| Sundries | 2,013 | - | 2,013 | 2,332 |
| Repairs and Maintenance | 10,243 | - | 10,243 | 2,053 |
| Professional Fees | 2,340 | - | 2,340 | 933 |
| Donations | 1,592 | - | 1,592 | 1,399 |
| Other Professional Fees | 2,196 | - | 2,196 | 5,119 |
| Conference Hosting | 61,729 | - | 61,729 | - |
| Fixtures and fittings | 7,524 | - | 7,524 | 7,549 |
| 101,714 | - | 101,714 | 35,903 | |
| Support costs | ||||
| Governance costs | ||||
| Accountancy and legal fees | 1,190 | - | 1,190 | 1,140 |
| Total resources expended | 102,904 | - | 102,904 | 37,043 |
| Net income | 123,830 | - | 123,830 | 269,287 |
This page does not form part of the statutory financial statements
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