## **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."
Page 2
## **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.
Page 3
## **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:
- Select suitable accounting policies and then apply them consistently;
- Observe the method and principles in the applicable Charities SORP
- Make judgments and estimates that are reasonable and prudent;
- 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
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in
- operational existence.
Page 4
## **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
1. which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006
- Accounts Regulations (as amended), and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006
- Accounts Regulations (as amended) 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.
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.
Page 9
## **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|
Page 11
## **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