The Church of Scotland
Ibrox Parish Church of Scotland, Glasgow
Trustees’ Annual Report And Accounts Year ended 31 December 2024
Congregation No: 160903 Scottish Charity No: SC009841 Registered Charity Name: Ibrox Parish Church of Scotland www.ibroxparishchurch.co.uk
Ibrox Parish Church of Scotland Glasgow Trustees’ Report Year ended 31 December 2024
The trustees present the annual report and account for Ibrox Parish Church for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in notes on pages 9 and 10 to the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland effective from1 January 2019.
Objectives and Activities
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 part of a national Church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial ministry. It cooperates with other Churches in various ecumenical bodies in Scotland and beyond.
Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Church Groups/Activities
Services of Worship: Sunday 11am – 12.00pm Badminton Club: Monday 7.30 – 9.30pm Book Club: Monthly Church Choir: Wednesday 7.30 – 9.30pm Faithful Welcome Ecumenical Group: Periodically Ibrox Theatre Club: Periodically Memory Club: Thursday 10.30am –12.00pm Millennials Group: Periodically Prayer Group: Sunday 12.30 – 1.00pm (monthly) Pastimes: Monday 1.30-3.00pm
Community Groups/Activities
African Global Community Project LGBT: Monthly 1st Monday 6-8pm Alcoholics Anonymous: Monday 7.30-9.30 pm Early Years Scotland: Henry Programme: Various times Food Bank: Monday 12.00 – 2.00pm Girls Guides (Ages 4-16): Tuesday 6.00 – 9.30pm Glasgow Tamil Academy: Saturday 2.30-4pm Govan Youth Information Project: Friday 7-9pm Graduate Women Scotland: Monthly on a Wednesday 7-10pm Ibrox Writers Group: Friday 10am-12pm Living Rent Glasgow: Wednesday of first full week of the month 6.30-8pm Narcotics Anonymous: Wednesday 7.30-8.30pm Taekwondo: Friday 5.45-7pm Weight Watchers: Sat 10-11 am, Wed 6-7pm Workout Class: Monday and Thursday 4.30-5.30pm
Page 1
Ibrox Parish Church of Scotland Glasgow Trustees’ Report Year ended 31 December 2024
Achievements and Performance
Church Groups Attendance:
| Sunday Worship | 37 (average) |
|---|---|
| Millennials Group | 8 |
| Badminton Club | 15 |
| Book Club | 6 |
| Church Choir | 10 |
| Past Times Group | 10 |
| Prayer Group | 8 |
| Memory Club | 20 |
Narrative of goals and values
This was a year of transitions for Ibrox Parish Church. We began 2024 worshipping with our cluster partners at Sherbrooke Mosspark Parish Church (SMP) while the halls wing of our building was undergoing a major refurbishment project. The time of shared worship strengthened our trust and relationships across the cluster and we are grateful to Rev. and the congregation of SMP for giving us warm welcome and safe harbour during this time. The work was completed in early spring and on 3 March we had our reopening worship service followed by an open house for the wider community to come and see the new space. The refurbished space was very well received by the wider community and within a month our building was back in use 7 days a week. We continue with the second phase of the project, which is to refurbish the toilets. This work had to be held off until after the main project because grant funding for this wasn’t released until March 2024. We prioritised bringing the disabled toilet up to code and secured some additional funding to do more cosmetic improvements to the ladies and gents toilets. This work will be carried out in early 2025. We spent much of our time and energy this year getting our tenancy rates up towards our goal of financial sustainability. This is a goal that is challenged by the cost of living crisis and the high utility bills we contend with.
We had been in negotiations with Reconnect who wanted to develop the old sanctuary into a community theatre space. It became clear over time that the General Trustees were uncomfortable with anything but a standard tenant/landlord relationship. In June Reconnect regretfully withdrew from negotiations to focus on other projects with more willing partners. This was disappointing to everyone at the local level, though the elders acknowledged that we had exhausted our time to find an alternative use for the space, and agreed that given the ongoing financial risk it posed, we should sell. We have begun the process and hope the old sanctuary will be listed for sale by early spring 2025.
We also said goodbye this year to our anchor tenants Richmond’s Hope. Their playrooms at the back of the sanctuary were very expensive to heat and with the decision to sell, would eventually be unavailable. After briefly considering space in the refurbished part of the building, they opted to move to new premises in November. We are sad to lose their partnership and wish them well in this new chapter of their presence in Glasgow. Thankfully, their office space was not vacant for long as with Reconnect took over the space. He had been looking for an office space in Glasgow and was keen to keep touch with the church given the positive relationship we developed, despite the sanctuary project not working out.
Midway through the year, stepped down as session clerk and we record our sincere thanks for her eight years of service in this role. agreed to step up as our new session clerk and we are grateful for her willingness to serve in this new role. We continue to share worship and build relationships with our cluster partners at SMP. preached at both churches for nearly two months while was ill. Regular pulpit swaps and joint worship continues and the steering group meets regularly. We work with SMP and other ecumenical partners to engage with asylum seekers at the hotel across the street. We’ve tried events like Burns Supper and afternoon teas with varying degrees of success and engagement.
After so much upheaval, change, and adjusted hopes and expectations, as a congregation we are embracing a season of rest. Annual events such as the Hallowe’en Carnival, the choir’s Palm Sunday and Carol Service, Coffee Carol Evening, Easter breakfast, Harvest, theatre outings, musical sermon series- all help us regain an appreciation of normal joys and rhythms of being a church family together."
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Ibrox Parish Church of Scotland Glasgow Trustees’ Report Year ended 31 December 2024
We held kirk session meetings in person during nicer weather months and on Zoom during the dark of winter. We continue close partnerships with Glasgow Boys’ Brigade Battalion, and Glasgow Southwest Foodbank.
Financial Review
The principal sources of income are:
Weekly Freewill Offering – has decreased by £6,201 (2024 = £24,095; 2023 = £30,296) Open Plate – has increased by £1,282 (2024 = £2,762; 2023 = £1,480) Donations from organisations – has decreased by £206 (2024 = £953; 2023 = £1,159) Hall rents – has decreased by £1,334 (2024 = £33,105; 2023 = £34,439; 2022 = £42,981) Fundraising activities have decreased by £1,234 (2024 = £1,231; 2023 = £2,465) Interest has decreased by £1,527 (2024 = £1,248; 2023 = £2,776)
Overall, income has decreased by £173,311 and expenditure also decreased by £166,802. The deficit for the year is £47,295. The decrease in expenditure is largely due to having finished works on our new building project in 2024. The decrease in income also reflects that the grant money we had for our new building project was largely received in 2023. Open plate donations increased as we were able to meet at our own church this year.
The number of total standing orders from parishioners has increased by one. Gift aid donors remain steady.
Investment Policy and Performance
The policy of the charity is to keep sufficient assets available on deposit to meet short and medium term commitments and only to invest longer term the remaining funds. Other than bank accounts the charity only invests in the funds of the Church of Scotland Investor Trust.
Risk Management
The Trustees believe that the principle risks and uncertainties faced by Ibrox Parish Church, and the actions proposed and implemented by the Trustees and Congregation to minimise these risks are noted below:-
● The average age of the Congregation has continued to increase in recent years and we have lost key members of the Congregation as well. We are mitigating this risk by holding more fundraisers in 2025 to specifically raise funds for our building's running costs.
● Our New Building Project was completed in 2024. We received grants to cover these costs and we also received a very large unexpected donation from a member for this project last year. We also received grants this year to commence work on our toilets. We will receive a grant from the General Trustees to complete work from a leak in the new sanctuary. The upkeep and running costs of our building are large expenditures that will need to be met by fundraising.
● We are now on more expensive electricity and gas contracts than we were in previous years. Our Treasurer has worked closely with our energy broker to reduce these costs as much as possible. To that end, we have secured a greatly reduced Direct Debit for our halls electricity. Since a key tenant vacated our halls, our electricity use in that part of the building has drastically reduced and we are working to secure a refund of over £7k for overpayments on account.
Reserves Policy
It is the Trustees’ Policy to hold reserves of approximately six months expenditure including designated funds to ensure a smooth running of the church. This year, we needed to access our reserves to meet an unexpected roof repair bill and several large gas bills. At the year end, the Church held unrestricted funds totalling £42,107. This is slightly less than we would like to hold in reserves -- once our final building works are complete, we will transfer the remainder of the New Building Fund into our General Fund. The church previously made a large transfer from our General Fund to the New Building Fund on the caveat that whatever was unspent from than transfer at the end of the project would be transferred back.
Structure, Governance and Management
The congregation is a registered charity, number SC009841 and is administered in accordance with the terms of the Unitary Deed of Constitution and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland.
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 Session Clerk and the Church Treasurer are appointed by the Session The minister is elected by the congregation and inducted by Presbytery.
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Ibrox Parish Church of Scotland Glasgow Trustees’ Report Year ended 31 December 2024
The Kirk Session is chaired by the minister and meets at least 8 times in a year. Certain responsibilities are delegated to appropriate groups or committees. The Kirk Session is responsible for spiritual affairs within the church.
Reference and Administrative Information Trustees during 2023 Kirk Session
Principal Office-Bearers Minister: Session Clerk: Deputy Session Clerk: Church Treasurer: Principal Office Charity Name: Ibrox Parish Church of Scotland, Glasgow Charity Registration No: SC009841 Congregational Reference No: 160903 Contact Address: Ibrox Parish Church, 67 Clifford Street, Glasgow G51 1QH
Independent Examiner
Cahill Jack Associates Ltd, 91 Alexander Street, Airdrie, ML6 0BD.
Bankers Bank of Scotland, Glasgow Govan (800753) Branch, P.O. Box 1000, BX2 1LB.
Trustees’ Responsibilities in Relation to the Financial Statements
The Charity Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the method and principles in the applicable Charities SORP
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in
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operational existence.
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Ibrox Parish Church of Scotland Glasgow Trustees’ Report Year ended 31 December 2024
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on their behalf,
Session Clerk:
Date 4 February 2025
Page 5
Independent Examiner’s Report to the Trustees of Ibrox Parish Church Year ended 31 December 2024
I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages 7 to 15.
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 trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the 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 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
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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
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Accounts Regulations (as amended), and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006
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Accounts Regulations (as amended) have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Cahill Jack Associates Ltd 91 Alexander Street Airdrie
Date 4 February 2025
Page 6
Ibrox Parish Church of Scotland Glasgow
Statement of Financial Activities
For the year ended 31 December 2024
| Incoming Resources Income and endowments from: Donations and Legacies 1 Charitable Activities 2 Investments 3 Total incoming resources Resources Expended Cost of generating funds 4 Charitable activities 4 Other Depreciation Total resources expended Net income/(expenditure) before gains and losses on investments Net gain/(loss) on investment Net Income/(Expenditure) Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Restricted Restricted Funds Funds Funds-Youth Pastoral Care Total 2024 2024 2024 2024 2024 £ £ £ £ £ 32,820 37,895 - 473 71,188 34,187 299 15 - 34,501 1,248 - - - 1,248 68,255 38,194 15 473 106,937 - - - - - 97,700 56,182 70 280 154,232 97,700 56,182 70 280 154,232 - - - - - - - - (29,444) (17,988) (55) 193 (47,295) 21,000 (21,000) - - - (8,444) (38,988) (55) 193 (47,295) 50,552 357,918 701 475 409,647 42,108 318,930 646 668 362,352 |
Unrestricted Funds 2023 £ 28,223 35,018 2,775 |
Restricted Funds 2023 £ 211,717 2,266 - |
Restricted Restricted Funds-Youth Pastoral Care 2023 2023 £ £ 125 124 - - - - |
Total 2023 £ 240,189 37,284 2,775 |
|---|---|---|---|---|---|
| 66,016 | 213,983 | 125 124 |
280,248 | ||
| - 80,262 - |
- 240,316 - |
- - 29 427 - |
- 321,034 - - |
||
| 80,262 | 240,316 | 29 427 |
321,034 | ||
| - - |
- - |
- - |
- - |
||
| (14,246) | (26,333) | 96 (303) |
(40,786) | ||
| 7,650 | (650) | (6,000) (1,000) |
- | ||
| (6,596) | (26,983) | (5,904) (1,303) |
(40,786) | ||
| 57,147 | 384,902 | 6,605 1,778 . |
450,432 | ||
| 50,551 | 357,919 | 701 475 |
409,647 |
Page 7
Ibrox Parish Church of Scotland Glasgow
Balance Sheet
| As At 31 December 2024 Note Fixed Assets Tangible Fixed Assets 7 Investments-Bonds 8 Current Assets Debtors 9 Bank and Cash 10 Creditors Falling due within one year 11 Net Current Assets Creditor falling due after more than one year Net Assets The funds of the Charity: Unrestricted Funds 13 General funds Designated funds Restricted Funds 13 Pastoral Care New building fund Warm Welcome Fund Total Funds Fixed Assets Fund Children & Youth Work |
£ 19,123 52,470 71,593 (8,522) (8,522) 41,190 917 42,107 294,281 646 668 24,522 129 320,245 |
2024 £ 294,281 5,000 299,281 63,071 - 362,352 42,107 320,245 362,352 |
£ 1,887 112,058 113,945 (3,579) (3,579) 44,086 6,465 50,551 294,281 701 475 63,510 129 359,096 |
2023 £ 294,281 5,000 |
|---|---|---|---|---|
| 299,281 110,366 - |
||||
| 409,647 | ||||
| 50,551 359,096 |
||||
| 409,647 |
The accounts were approved by the trustees on 4 February 2025 and signed on their behalf by:
Morag Fleming
Page 8
Ibrox Parish Church of Scotland Glasgow Year ended 31 December 2024
Accounting Policies
The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective from 1 January 2019, the Charities and Trustee Investment (Scotland) Act 2005 and 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.
Preparation of the accounts on a going concern basis
At the time of approving these financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for at least the next 12 months from the date of signing these financial statements and therefore continue to adopt the going concern basis of accounting.
Fund Accounting
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with authorised or created through legal processes, but still within the wider objects of the charity.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the charity.
Incoming resources
Donations
All donations and gifts are included within incoming resources under either unrestricted or restricted funds according to the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gifts in kind are brought into the accounts at their market value to the charity.
Interest and dividends receivable
Interest on funds held on deposit and dividends are 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.
Resources expended
Expenditure is recognised on an accruals basis as the liability is incurred.
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Ibrox Parish Church of Scotland Glasgow Year ended 31 December 2024
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, halls and manse, 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
All tangible fixed assets costing in excess of £5,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:
Fixtures, fittings and office equipment 3 years Organ over 10 years
No depreciation is charged on the manse due to the extent of upkeep and repairs work carried out on the property during the year and estimated residual value is greater than the amount stated in the accounts.
Investments
Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year.
Taxation
Ibrox Parish Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.
The charity is entitled under Section 13(2) of the Charities and Trustee Investment (Scotland) Act 2005 to describe itself as a Scottish Charity.
Page 10
Ibrox Parish Church of Scotland Glasgow
| Notes forming part of the financial statements for the year ended 31 December 2024 1 Donations and Legacies Offerings (FWO, tea money, open plate) Tax recovered on Gift Aid Legacies Grants Transfer: The Church of Scotland General Trust Contributions from Congregational Organisations Other-Fabric 2 Income from Charitable Activities Regular Fundraising Events Use of Premises Weddings and Funerals Bequest 3 Investment Income Deposit interest Dividends received Bank interest Total Incoming Resources |
Unrestricted Restricted Restricted Restricted Funds Funds Funds Youth Fund Pastoral Care Total 2024 2024 2024 2024 2024 £ £ £ £ £ 23,262 3,895 - 473 27,629 6,404 - - - 6,404 - - - - - 350 34,000 - - 34,350 953 - - - 953 1,851 - - - 1,851 32,820 37,895 - 473 71,188 932 299 15 - 1,246 33,105 - - - 33,105 150 - - - 150 - - - - - 34,187 299 15 - 34,501 1,060 - - - 1,060 189 - - - 189 - - - - - 1,248 - - - 1,248 68,255 38,194 15 473 106,937 |
. . Unrestricted Restricted Restricted Restricted Funds Funds Funds Youth Fund Pastoral Care Total 2023 2023 2023 2023 2023 £ £ £ £ £ 23,342 36,752 - 124 60,218 4,537 9,158 - - 13,695 - - - - - - 125,685 125 - 125,810 39,283 39,283 320 839 - - 1,159 24 - - - 24 |
|---|---|---|
| 28,223 211,717 125 124 240,189 |
||
| 199 2,266 - - 2,465 34,439 - - - 34,439 380 - - - 380 - - - - - |
||
| 35,018 2,266 - - 37,284 |
||
| 2,624 - - - 2,624 151 - - - 151 - - - - - |
||
| 2,775 - - - 2,775 |
||
| 66,016 213,983 125 124 280,248 |
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Ibrox Parish Church of Scotland Glasgow
Notes forming part of the financial statements For the year ended 31 December 2024
| 4 Analysis of Expenditure Raising Funds: Offering Envelopes Church Off Exps Charitable Activates: Ministries and Mission Allocation C of S Locum Presbytery Dues Minister's Expenses Ministerial Assistance Pulpit Supply Salary Costs Fabrics Repairs & Maintenance Depreciation Council Tax Other Buildings Costs Insurance Cleaning Heat Light Church Office Expenses Piano & Music Pastoral Care Children & Youth Work Training and Development Audit Accrual Warm Welcome Other Expenses Donations Professional Fees Church Events (not Halloween) |
Unrestricted Restricted Restricted Restricted Funds Funds Funds Funds-Youth Pastoral Care Total 2024 2024 2024 2024 2024 £ £ £ £ £ - - - - - - - - - - 26,425 - - - 26,425 - - - - - 2,294 - - - 2,294 2,965 - - - 2,965 - - - - - 400 - - - 400 - - - - - 18,399 51,173 69,572 - - - - - 3,218 - - - 3,218 642 - - - 642 7,148 - - - 7,148 6,751 - - - 6,751 26,632 - - - 26,632 194 - - - 194 1,427 - - - 1,427 - - - 280 280 - - 70 - 70 - - - - - 1,000 - - - 1,000 - - - - - 83 - - - 83 - 5,009 - - 5,009 122 - - - 122 97,700 56,182 70 280 154,232 |
Unrestricted Restricted Restricted Restricted Funds Funds Funds Funds-Youth Pastoral Care Total 2023 2023 2023 2023 2023 £ £ £ £ £ 96 - - - 96 |
|---|---|---|
| 96 - - - 96 |
||
| 27,560 - - - 27,560 - - - - - 954 - - - 954 1,789 - - - 1,789 - - - - - 210 - - - 210 - - - - - 6,905 235,928 - - 242,833 - - - - - 3,196 - - - 3,196 681 - - - 681 6,697 - - - 6,697 4,431 - - - 4,431 25,250 - - - 25,250 282 - - - 282 797 - - - 797 - - - 427 427 - - 29 - 29 - - - - - 1,000 - - - 1,000 - 25 - - 25 70 - - - 70 30 4,363 - - 4,393 410 - - - 410 |
||
| 80,262 240,316 29 427 321,034 |
Support costs have not been separately identified as the trustees consider there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified.
Page 12
Ibrox Parish Church of Scotland Glasgow Notes forming part of the financial statements for the year ended 31 December 2024
| 5 Staff Costs and Numbers Salaries and Wages Social Security Costs employers NI Total Ministerial Support Administration Music Staff Premises Maintenance The average numbers of employees during the year, calculated on |
2024 2023 £ £ - - - - - - 2024 2023 - - - - - - - - - - the basis of head count, was as follows: |
|---|---|
No employee had employee benefits in excess of £60,000 (2023 - nil)
All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipend and employer's contributions for national insurance, pensions and housing and loan fund. Ministers' stipends are paid in accordance with the national stipend scale, which is related to years of service. For 2024, the minimum stipend is £31,642 and the maximum stipend in 5th and subsequent years of service £38,884.
There were no other expenses or remuneration waived by trustees during the year.
6 Trustee Remuneration and Related Party Transactions
During the year a total of £14,800 (2023, £20,179) was donated to the congregation by trustees. During the year, the Minister received no Voluntary Additional Stipend but did receive reimbursement of expenses totalling £6,183 which included Manse Council Tax of £3,218 and travel expenses of £2,965. None of the other Trustees received any reimbursement of expenses or remuneration. No Trustee or person related to a Trustee had any personal interest in any contract or transaction entered into by the charity during the year. The Church incurred expenses for piano music of £150 in 2024.
| 7 Tangible Fixed Assets Cost At 1 January 2024 Additions Disposals At 31 December 2024 Accumulated Depreciation At 1 January 2024 Charge for year Eliminated on Disposals At 31 December 2024 Net Book Value At 31 December 2023 At 31 December 2024 |
Buildings £ 294,281 - - 294,281 - - - - 294,281 294,281 |
Office Equipment £ 42,686 - - 42,686 42,686 - - 42,686 - - |
Total £ 336,966 - - |
|---|---|---|---|
| 336,966 | |||
| 42,686 - - |
|||
| 42,686 | |||
| 294,281 | |||
| 294,281 |
Page 13
Ibroi ParAsh Churc 1Sotes formiug psit oftbe finallcial statements for the )ear ellded 31 December 2024 8 Investmellts 2024 2023 Market Value at l January 2024 Unrealiged 8ainl(loss) on inVesthnIS Markct Valuc at 31 D¢c¢ber 2024 The follovling investments are held: National Income Bonds 9 Debtors 2024 2023 DCMS Vat back on Work CTift Aid Halloweell Donation Snwtest Energy Hall Lets 636 12 9.352 2.730 19.122 l.875 1.887 10 Blllk AecouDts Tbe followlDg bank arrouD¢s are Ild. 2024 2023 Bank of Scoiland - Treasurers. Accounl Cliurch of Scoiland - Treasiwers, Accounl-FabTiC Casli Float - Held by Officer Church of Scoiland - Treasurer General FIMp)se Church of Scoilaud- Manse Fund 35.048 2.158 94.635 2.158 5.560 52.470 5.J60 112,058 li Creditors 2024 2023 Accnialg. TIE 572 2.287 513 Gas Electricity (not illclud refimd) Reportin8 Accountant Cl¢arways 'chtt]ollds Hope overya)ItKllt StAndreiVs AmlRthce oVeal Shert)rooke Mosspark use of haus transfer 2.598 2.790 3.750 223 240 6,850 8.521 12 Prepa)Ineu15 2024 2023 Allan Organs- annual ¢outra¢i foT 2024 Church of Scoilalld- Giving lo Grow 515 2756 3,271 Page 14
Ibrox Parish Church of Scotland Glasgow Notes forming part of the financial statements for the year ended 31 December 2024
| 13Analysis of Net Assets Between Funds Fixed Assets-Manse National Income Bonds Debtors Bank Church of Scotland - Fabric Account Cash Church of Scotland - Treasurer Church of Scotland - Treasurer-Manse Current Liabilities Net assets at 31 December 2024 Fixed Assets-Manse Fixed Assets - Organ Children & Youth Work Investments National Income Bonds Current Assets Debtors Bank Church of Scotland - Fabric Account Cash Church of Scotland - Treasurer Church of Scotland - Treasurer-Manse Current Liabilities Net assets at 31 December 2023 14 Movement in Funds Unrestricted Funds General Fund Designated Fabric Fund Restricted Funds: Fixed Assets Fund Children & Youth Work Pastoral Care Fund Restricted New Building Fund Warm Welcome Fund Total Funds Movement in Funds Unrestricted Funds General Fund Designated Fabric Fund Restricted Funds: Fixed Assets Fund Children & Youth Work Pastoral Care Fund Restricted New Building Fund Warm Welcome Fund Total Funds |
As At 1.1.24 £ 44,086 6,465 |
General Designated Restricted Total 2024 £ £ £ £ - - 294,281 294,281 - - 5,000 5,000 19,123 - - 19,123 30,489 - 4,559 35,048 - 917 1,241 2,158 100 - - 100 - - 9,604 9,604 - - 5,560 5,560 (8,522) - - (8,522) |
|---|---|---|
| 41,190 917 320,245 362,352 |
||
| General Designated Restricted Total 2023 £ £ £ £ - - 294,281 294,281 - - - - - - - - - - - - 5,000 - - 5,000 - - - - 1,887 - - 1,887 40,678 4,308 49,650 94,636 - 2,158 - 2,158 100 - - 100 - - 9,604 9,604 - - 5,560 5,560 (3,579) - - (3,579) |
||
| 44,086 6,466 359,095 409,647 |
||
| Incoming Outgoing As At Resources Resources Transfers 31.12.24 £ £ £ £ 66,404 (79,301) 10,000 41,190 1,851 (18,399) 11,000 917 |
||
| 50,551 | 68,255 (97,700) 21,000 42,107 |
|
| 294,281 701 475 63,510 129 |
- - - 294,281 15 (70) - 646 473 (280) - 668 38,194 (56,182) (21,000) 24,522 - - - 129 |
|
| 359,096 | 38,682 (56,532) (21,000) 320,245 |
|
| 409,647 | 106,937 (154,232) - 362,352 |
|
| As At 1.1.23 £ 43,801 13,346 |
Incoming Outgoing As At Resources Resources Transfers 31.12.23 £ £ £ £ 65,992 (73,357) 7,650 44,086 24 (6,905) - 6,465 |
|
| 57,147 | 66,016 (80,262) 7,650 50,551 |
|
| 294,281 6,605 1,778 89,917 704 |
- - - 294,281 125 (29) (6,000) 701 124 (427) (1,000) 475 213,884 (240,291) - 63,510 100 (25) (650) 129 |
|
| 393,285 | 214,233 (240,772) (7,650) 359,096 |
|
| 450,432 | 280,249 (321,034) - 409,647 |
15 Designated and Restricted Funds
Fund Descriptions: Designated fabric fund: used for fabric repairs to church and manse; Fixed asset fund: the value of the manse; Children and youth work fund: used solely for the purpose of youth activities, resources, and spaces within the church; Pastoral care fund: used solely for the purpose of pastoral care; New Building Fund: used solely for expenses associated with our new building works. In addition to starting those works, we've also brough in more funding to this fund via grants, congregational donations, and fundraising. The Warm Welcome Fund serves the Warm Welcome Project which will be carried into 2025.
16 Volunteers
In common with all congregations of the Church of Scotland the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown.
Page 15
Ibrox Parish Church of Scotland Glasgow
| CAPITAL ACCOUNT Credit Balances held at 31 December at cost 2023 Unrealised gain / (loss) on investments Realised gain Property costs - new building project Market Value of Balances at 31 December 2024 Investment at cost Consolidated fabric fund-Unit price 31/12/2024 £1.54 No. Of Units 14,701 DEPOSIT FUND Sale of Flat-Balance held 01 January 2023 Realised gains on Fund 55 Property costs - new building project Roof repair in link block Balance 31 December 2024 Growth Fund Unit Price at 31.12.2024 £6.38 Income Fund - Unit Price at 31.12.2024 £11.06 REVENUE ACCOUNT Credit Balance at 31 December 2023 Property costs - new building project Interest Balance 31 December 2024 TEMPORARY FUNDS Debit Balance at 31 December 2023 Interest Balance 31 December 2024 |
2024 - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ 46.37 £ 46.37 £ 1,573.88 -£ - £ 1,573.88 -£ |
2023 15,839.46 £ 567.64 £ 16,407.10 -£ - £ |
|---|---|---|
| - £ |
||
| 7,084.92 £ 6,114.30 £ 13,199.22 -£ |
||
| - £ |
||
| 8,451.50 £ 9,676.26 -£ 1,224.76 £ |
||
| - £ |
||
| 1,521.76 -£ 52.12 -£ |
||
| 1,573.88 -£ |
This cash is held by THE CHURCH OF SCOTLAND GENERAL TRUSTEES for the purpose of fabric and can only be used with their permission
Appendix 1