Charity registration number SC006684 (Scotland)
PEOPLES CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
TC Group Business Advisors & Accountants 180 St Vincent Street Glasgow G2 5SG
PEOPLES CHURCH LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
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address www.pcfministries.org Charity number (Scotland) SC006684 Principal address Fo examiner TC Group Business Advisors & Accountants 180 St Vincent Street Glasgow G2 5SG Bankers Clydesdale Bank 1 Bank Street Falkirk FK1 1NB Investment advisors Lockhart Consultancy Limited 5 Keith Street Hamilton ML3 7BL
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PEOPLES CHURCH CONTENTS
Page
Trustees' report 1 -3
Independent examiner's report 4
Statement of financial activities 5 -6 Balance sheet 7 Notes to the financial statements 8 -18
PEOPLES CHURCH TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the church's governing document, the Charities and Trustee Investment
file:///C/Users/RossFairfield/Desktop/Peoples_Church_050425_final.txt[11/02/2026 09:13:32]
(Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities The objectives of the church are:
the advancement of the Christian faith the prevention or relief of poverty and the advancement of citizenship or community development.
The aims of the church, as a Christ Centred and People Friendly Church, are to worship God and
His Son and to preach the Gospel in word and in action.
The church holds four main weekly services and continues to be involved in Outreach Ministries within the local community, touching all age groups. The church also supports home and foreign missions.
Achievements and performance Significant activities and achievements against
objectives
At the Peoples Church Falkirk ("PCF"), we have a desire to continually preach the gospel, reaching the lost in our district for Jesus, extending His kingdom work in our area.
During 2024-2025 while we continue as a fellowship to have a desire in our hearts to worship the Lord passionately, to grow
spiritually and to walk fervently in the plans and purposes He has for us as a church and individuals, we continued to see a big change in another year of great continued fellowship among our members and those who visit our services. Tuesday evening Bible studies continue in the church building, with the Zoom link
continuing for those who can't make it out. We also continue to build up Sunday Evening service every second week.
Our Praise and Worship team gather in church each Thursday evening for practice, at the same time a Church zoom prayer meeting takes place.
A couple of Tuesday mornings each month at llam PY
are set aside for Revival Prayer meetings, that God may visit the nation of Scotland and the UK with an outpouring of His power and Holy Spirit. We also received small Christmas Hampers from Festive Friends based at Falkirk Stadium, known as Falkirk Foundation, and with their kind donation we were able to bless folks
in church and community.
Many have called to say thanks, others through text and emails. We have had a chance to show Christ's love in this practical demonstration of support. Sunday School continues to grow. The children get to show their talents and skills via their Easter and Christmas presentations and Prize-giving services,
encouraged by the great Sunday School team working behind the scenes. The team have a great heart to see the children develop and to grow spiritually as they get to know Jesus, as the teachers share many bible stories with them from week to week. The Sunday School continue to raise funds to help support themselves, with
new materials etc. they had their annual Jumble Sale, and a sponsored cycle.
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PEOPLES CHURCH TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Peoples Church celebrated its 39th Anniversary also in January.
A few other guests came to speak, at our Sunday services
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and outreach events,
4 the Elim Regional events throughout the year. Also supported with other church members
at the Glasgow OVO arena.
Monthly Coffee mornings continue and prove to be a great chance
for PY
fellowship and making new contacts, again thanks to those who organise and do all the preparation. Puppet team were out on a few trips, being a blessing in the community, at Easter and Christmas time especially. We have an opening again into one of the local primary schools. We rejoice in God’s goodness as the
services continue, as we have seen new people some responding to the Gospel of Jesus Christ.
I am glad to say that a men’s meeting continues on Monday evenings, with good reports coming back as to how it has blessed them.
Maintenance was carried out in boiler room, new pipes and some radiator
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replacements.
In closing, we continue to encourage the church to reach out and invite others to come along to our services.
Thanks to the church for their faithful giving, although funds may seem a bit lower, as a Leadership, we are grateful for those who have given online, or who continue to bring
them into the services.
Without YOU the congregation, we would fall short but thank you one and all for your faithfulness to the work. To those who continue still to be faithful in their different ministries, keep going and be Blessed. 1 Corinthians 15:58 (NLT) So, my dear brothers and sisters, be strong
and immovable. Always work enthusiastically for the Lord, for you know that nothing you do for the Lord is ever useless. Keep up the good work.
Step Into Your Destiny and Let the Adventure Begin.
Financial review Per the Statement of Financial Activities on page 3; the church reported Net Expenditure
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(i.e. Deficit) for the year of £20.614 (2024 -Deficit £596) which included unrealised gains on investments of £1,805 (2024 -unrealised gains (£9,203). Reserves Policy It is the policy of the church that Unrestricted Funds be maintained at a level which equates to approximately three months' unrestricted expenditure. At this level and, in the
event of a significant drop in funding, the Trustees are of the opinion that the church’s activities could be maintained whilst addressing the matter of raising additional funds. Per the Statement of Financial Activities on page 5, the General Fund (including Investments of £127,970) at 5 April 2025 amounted to £236,800 (2024 -£258,185) which, influenced
by a £251,814 legacy received during the year ended 5 April 2019, continued to exceed the required level.
Grant making policy
The church makes grants from its income to individuals and organisations that are generally known to the Trustees and the church. The beneficiaries are involved in activities or ministries compatible with the
church's objectives.
Investment policy
Under the Trust Deed, the church has the power to invest in any way the Trustees wish. The Trustees have considered the most appropriate policy for investing funds and have found that the current mix of Term Deposits and Instant Access Accounts provides the required security and flexibility needed.
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PEOPLES CHURCH TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Risk management
The Trustees have assessed the major risks to which the church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure,
governance and management
Peoples Church ("the church") is established by a Trust Deed dated 6 April 1989 and is a Scottish Charity (No. SC006684).
The Trustees who served during the year and up to the date of signature of the financial statements were:
Appointment
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of Trustees
As set out in the Trust Deed, the Elders, Deacons or other duly constituted governing body having oversight of the church (the Oversight) may appoint a Trustee or Trustees by resolution at a meeting of the said Oversight. However, if the number of Trustees is less than three and the Oversight has ceased PY
to function, then the last surviving or continuing Trustee may act for the purpose of appointing a new Trustee or Trustees.
Organisational structure
The Trustees are responsible for the church's overall direction and serve voluntarily. The church's day-to-day operations and financial affairs have been delegated by the Trustees to
his PY
capacity as the church's Pastor.
Key management personnel
The Trustees consider themselves as the church’s key management personnel in charge of directing and controlling the church and overseeing its daily activities. Details of remuneration paid to key management personnel are provided in Notes 9 and 10.
Independent examiner
The
Trustees recommend that
as the designated Partner of TC Group, Business Advisors and Accountants remain in office as independent examiner until further notice.
The Trustees’ report was approved by the Board of Trustees.
Trustee
Date:
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PEOPLES
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CHURCH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEOPLES CHURCH I report on the financial statements of the church for the year ended 5 April 2025, which are set out on pages 5 to 18.
Respective responsibilities of Trustees and examiner The church's Trustees are responsible for the preparation
of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The church Trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my responsibility to examine the financial statements
as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 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 2006 Accounts Regulations. An examination includes a review of the accounting
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records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the 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 financial statements.
Independent examiner's 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:
to keep accounting
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records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 have not been met, or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
TC Group Business Advisors & Accountants 180 St Vincent Street Glasgow G2 5SG Date:
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PEOPLES CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
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INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
Current financial year NUnrestricted funds general 2025 otes £ Unrestricted Restricted funds funds designated 2025 2025 £ £ Total 2025 £ Total 2024 £ Income from: Donations and legacies Other trading activities Investments 3 4 5 112,459 664 5,080 - -
- 2,849 - - 115,308 664 5,080 113,729 645 5,015 Total income 118,203 -2,849 121,052 119,389 Expenditure on: Raising funds Charitable activities 6 7 1,661 138,599 - 3,211 - - 1,661 141,810 1,566 127,622 Total expenditure 140,260 3,211 -143,471 129,188 Net gains/(losses) on investments 13 1,805 --1,805 9,203 Net income/(expenditure) (20,252) (3,211) 2,849 (20,614) (596) Transfers between
funds (1,133) 1,133 --Net movement in funds 11 (21,385) (2,078) 2,849 (20,614) (596) Reconciliation of funds: Fund balances at 6 April 2024 258,185 169,445 27,018 454,648 455,244 Fund balances at 5 April 2025 236,800 167,367 29,867 434,034 454,648
The statement of financial activities includes all gains and losses recognised in the year. All income
and expenditure derive from continuing activities. The notes on pages 8 to 18 form an integral part of these financial statements.
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PEOPLES CHURCH
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
Prior financial year
Unrestricted Unrestricted Restricted Total funds funds funds general designated 2024 2024 2024 2024 Notes £ £ £ £ Income from: Donations and legacies 3 110,643 -3,086 113,729 Other trading activities 4 645 --645 Investments 5 5,015 --5,015 Total income 116,303 -3,086 119,389 Expenditure on: Raising funds 6 1,566 --1,566 Charitable activities 7 122,109 5,513 -127,622 Total expenditure
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123,675 5,513
-129,188 Net gains/(losses) on investments 13 9,203 --9,203 Net income/(expenditure) 1,831 (5,513) 3,086 (596) Transfers between funds (1,715) 1,715
Net movement in funds 11 116 (3,798) 3,086 (596) Reconciliation of funds: Fund balances at 6 April 2023 258,069 173,243 23,932 455,244 Fund balances at 5 April 2024 258,185 169,445 27,018 454,648 The notes on PY
pages 8 to 18 form an integral part of these financial statements.
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PEOPLES CHURCH BALANCE SHEET
AS AT 5 APRIL 2025
Fixed assets Tangible assets Investments Notes 14 15 2025 £ £ 65,740 127,970 2024 £ £ 67,818 126,638 Current assets Debtors Cash at bank and in
hand 17 15,879 234,849 193,710 14,655 256,640 194,456 Creditors: amounts falling due within one year 18 250,728 (10,404) 271,295 (11,103) Net current assets 240,324 260,192 Total assets less current liabilities 434,034 454,648 The funds of the church Restricted income funds Unrestricted funds -general Unrestricted funds -designated 20 22 21 29,867 236,800 167,367 27,018 258,185 169,445 434,034 454,648
The financial statements were approved by the Trustees on
en
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Charity information
Peoples Church is a Scottish
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registered charity. The church's office address and principal place of business is West Bridge Street, Falkirk, FK1 5RJ. 1.1 Accounting convention The financial statements have been prepared in accordance with the church's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable
in the UK and Republic of Ireland" and the Charities SORP "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)". The church is a Public Benefit Entity as defined by FRS 102.
The church has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been
prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable
future.
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern and the financial statements have been prepared on a going concern basis. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be
used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
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PEOPLES CHURCH NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies (Continued)
Gift Aid
Income tax recoverable on Gift Aid donations is recognised when the respective donation has been recognised and the recoverable amount of income tax can be measured reliably; this is normally when thedonor
has completed the relevant Gift Aid declaration form. Income tax recoverable on Gift Aid donations is allocated to the same fund as the respective donation unless specified by the donor Income from other trading activities Income from other trading activities includes income earned from both trading activities to raise funds for the charity
and income from fundraising events and is recognised when the charity has entitlement to the funds, it is probable that these will be received and the amounts can be measured reliably. Investment income 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.
Dividends are recognised when the shareholder's right to receive payment is established, measured at the fair value receivable. Generally this is upon notification by the investment advisor once the dividend has been declared.
1.5 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 settlement will be required and the amount of the obligation can be measured or estimated reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the
amount required to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities where settlement is deferred for more than 12 months after the reporting date.
All expenditure is accounted for on an accruals basis. All expenses including support costs
and governance costs are allocated or apportioned to the applicable expenditure headings.
Raising Funds
Expenditure on raising funds includes all expenditure incurred by a charity to raise funds for its charitable purposes including fees charged for managing the church's investment portfolio.
Charitable activities
Expenditure on charitable activities includes all
costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and
the payments of grant awards if applicable.
Governance costs
Governance costs (which are included as a component of support costs in accordance with SORP) comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external
scrutiny (audit or independent examination), strategic management, and other legal and professional fees.
Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
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1 Accounting policies (Continued)
1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on
the following bases:
Freehold land and buildings 2% straight line Fixtures and fittings 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial
activities.
1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets At each
reporting end date, the church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Cash
and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The church has elected to apply the provisions of Section 11 PY
‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the
financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured
at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies (Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction,
where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for
goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest
method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the church’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an
expense when the church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the church’s accounting
policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future
periods. 3 Income from donations and
legacies Unrestricted funds 2025 £ Restricted funds 2025 £ Total 2025 £ Unrestricted funds 2024 £ Restricted funds 2024 £ Total 2024 £ Donations and gifts Tax reclaim on Gift Aid 97,965 14,494 2,279 570 100,244 15,064 97,531 13,112 2,469 617 100,000 13,729 112,459 2,849 115,308 110,643 3,086 113,729
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PEOPLES
CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025 4 Income from other trading activities
Unrestricted Unrestricted funds funds 2025 2024 ££
Non-charitable trading activities 148 63 Fundraising events 55 110 Shop income 461 472 Other trading activities 664 645
5 Income from investments
Unrestricted Unrestricted funds funds 2025 2024 ££
Income from listed investments 1,147 363 Interest receivable 3,933 4,652
5,080 5,015
6 Expenditure on raising funds
Unrestricted Unrestricted funds funds 2025 2024 ££
Investment management fees 1,661 1,566
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Expenditure on charitable activities Direct costs Staff costs Depreciation and impairment Premises costs Running costs Motor and travel costs Goverance costs (see note 11) 2025 £ 66,252 3,211 34,146 22,081 7,731 3,795 2024 £
65,567 5,513 17,035 24,490 7,176 3,953 137,216 123,734 Grant funding of activities (see note 8) 4,594 3,888 141,810 127,622 Analysis by fund Unrestricted funds -general Unrestricted funds -designated 138,599 3,211 122,109 5,513 141,810 127,622 8 Grants payable Grants to institutions: Compassion UK Missions New Foundations UK RMI Missions Elim Ukraine Missions 3rd Falkirk BB Other 2025 £
225 820 360 900 540 500 - 2024 £ 300 850 360 1,200 540 - 160 3,345 3,410 Grants to individuals 1,249 478 4,594 3,888 - 9 Trustees
No Trustee nor any persons connected with them received remuneration or reimbursed expenses for serving as Trustees. The remuneration and reimbursed expenses for key management personnel as
detailed in Note 11, relate to David Morrison, Trustee, in his capacity as the church's Pastor. See also Note 24.
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
10 Employees
The average monthly number of employees during PY
the year was:
2025 2024 Number Number Total number 2 2 Employment costs 2025 2024 ££ Wages and salaries 47,996 47,768 Other pension costs 13,711 13,083 61,707 60,851 There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management
personnel
The remuneration and reimbursement of expenses of key management personnel during the year, including gross salaries, employer's contributions to national insurance, pensions and car mileage, was £53,451 (2024 £ 56,225). 11 Net income/(expenditure) for the year 2025 2024 Net income/(expenditure) for the year is stated after charging: ££ Independent Examiner's
remuneration 3,795 3,953 Depreciation of owned tangible fixed assets 3,211 5,513
12 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable
objects. 13 Gains and losses on investments
Unrestricted Unrestricted funds funds 2025 2024 Gains/(losses) arising on: ££
Revaluation of investments 1,805 9,203
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
14 Tangible fixed
assets Cost At 6 April 2024 Additions Freehold land and buildings £ 140,000 - Fixtures and fittings £ 105,645 1,133 Total £ 245,645 1,133 At 5 April 2025 140,000 106,778 246,778 Depreciation and impairment At 6 April 2024 Depreciation charged in the year 74,400 2,800 103,427 411 177,827 3,211 At 5 April 2025 77,200 103,838 181,038 Carrying
amount At 5 April 2025 62,800 2,940 65,740 At 5 April 2024 65,600 2,218 67,818 15 Fixed asset investments Cost or valuation At 6 April 2024 Additions Valuation changes Movement in cash held Listed investments £ 126,638 1,124 1,805 (1,597) At 5 April 2025 127,970 Carrying amount At 05 April 2025 127,970 At 05 April 2024 126,638
16 Financial instruments Carrying amount of financial assets Financial assets carried at fair value 2025 £ 127,970 2024 £ 126,638 -15
PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025 17 Debtors 2025 2024 Amounts falling due within one year: £
£
Other debtors 15,323 14,040 Prepayments and accrued income 556 615 15,879 14,655 18 Creditors: amounts falling due within one year 2025 2024 ££ Other taxation and social security 830 790 Other creditors 1,637 722 Accruals and deferred income 7,937 9,591 10,404 11,103
19 Retirement
benefit schemes 2025 2024 Defined contribution schemes £ £ Charge to profit or loss in respect of defined contribution schemes 13,711 13,083
The church operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the church in an independently administered fund.
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
At 6 April Incoming At 5 April 2024 resources 2025 £EE
Building Fund 27,018 2,849 29,867
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Previous year: At 6 April Incoming At 5 April 2023 resources 2024 £££ Building Fund 23,932 3,086 27,018 -16
PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
20 Restricted funds (Continued) Purposed of restricted funds
Building Fund
Represents funds received towards the repair and renovation of the church building.
21 Unrestricted funds -designated
These are the designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes:
At 6 April Resources Transfers At 5 April 2024
expended 2025 ££££
New Building Fund 101,627 --101,627 Assets Fund 67,818 (3,211) 1,133 65,740 169,445 (3,211) 1,133 167,367 Previous year: At 6 April Resources Transfers At 5 April 2023 expended 2024 ££££
New Building Fund 101,627 --101,627 Assets Fund 71,616 (5,513) 1,715 67,818 173,243 (5,513) 1,715 169,445
Purposes of Designated Funds New Building Fund The New Building Fund represents funds designated by the Trustees for the purchase of ground or a suitable building to expand the work of the church. Assets Fund The Assets Fund represents the net book value of the church's fixed
assets which would not be readily convertible into cash. The transfer of £1,133 during the year ended 31 March 2025, related to the purchase of fixed assets as financed by the General Fund (unrestricted).
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PEOPLES CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED
5 APRIL 2025
22 Unrestricted funds The income funds of the charity include the following designated funds which have been set aside out of
unrestricted funds by the Trustees for specific purposes: At 6 April 2024 £ Income £ Expenditure £ Transfers £ Gains and losses £ At 5 April 2025
£ General funds 258,185 118,203 (140,260) (1,133) 1,805 236,800 Previous year: General funds At 6 April 2023 £ 258,069 Income £ 116,303 Expenditure £ (123,675) Transfers £ (1,715) Gains and losses £ 9,203 At 5 April 2024 £ 258,185 23 Analysis of net assets between funds At 5 April 2025: Tangible assets Investments Current assets/(liabilities) Unrestricted funds
general 2025 £ - 127,970 108,830 Unrestricted funds designated 2025 £ 65,740 - 101,627 Restricted funds 2025 £ - - 29,867 Total 2025 £ 65,740 127,970 240,324 236,800 167,367 29,867 434,034 At 5 April 2024: Tangible assets Investments Current assets/(liabilities) Unrestricted funds general 2024 £ - 126,638 131,547 Unrestricted funds designated 2024 £ 67,818 - 101,627 Restricted
funds 2024 £ - - 27,018 Total 2024 £ 67,818 126,638 260,192 258,185 169,445 27,018 454,648 24 Related party transactions During the year, Elaine Morrison, wife of David Morrison, Trustee, was employed by the church to provide secretarial assistance. Her gross salary was £12,540 (2024 -£12,540).
There were no other related party transactions
in the reporting year requiring disclosure.
-18
The following pages do not form part of the statutory accounts PEOPLES CHURCH DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025 Income UF Donations and gifts RF Donations and gifts Tax
reclaim on Gift Aid (unrestricted) Tax reclaim on Gift Aid (restricted) £ 97,965 2,279 14,494 570 2025 £ £ 97,531 2,469 13,112 617 2024 £ 115,308 113,729 Income from trading activities Bookstall Ticket Sales Coffee Shop 148 55 461 63 110 472 664 645 Investment income UF Dividends from investments UF Other interest receivable 1,147 3,933 363
4,652 5,080 5,015 Total income Total expenditure Net gains on investments 121,052 (143,471) (1,805) 119,389 (129,188) (9,203) Net (deficit)/surplus for the year (20,614) (596)
PEOPLES CHURCH DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
£ 2025 £ £ 2024 £ Raising funds UF
Investment management costs Total raising funds expenditure 1,661 1,661 1,566 1,566 Charitable activities Grants payable Gifts to Christian organisations Gifts to individuals Staff costs Wages and salaries (gross) Staff pension costs defined contribution Other staff costs Depreciation Depreciation Premises costs Heat and light Repairs and maintenance Running costs Printing, postage and stationery Telephone General expenses Payroll costs
Books, tapes and ticket costs Speakers’ gifts Ministry costs Youth Work & Sunday School Pension administration costs Seniors home shopping Motor and travel costs Motor expenses Governance costs Independent examination fees 3,345 1,249 47,996 13,711 4,545 3,211 8,234 25,912 11,784 2,785 906 710 3,264 1,737 733 162 7,731 3,795 4,594 66,252 3,211 34,146 22,081 7,/31 PY
3,795 3,410 478 47,768 13,083 4,716 5,513 5,617 11,418 11,549 2,758 1,685 1,031 230 870 3,396 1,576 800 595 7,176 3,953 3,888 65,567 5,513 17,035 24,490 7,176 3,953
PEOPLES CHURCH DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025 Total charitable activities expenditure £
2025 £ 141,810 £ 2024 £ 127,622 Total expenditure 143,471 129,188