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2024-09-30-accounts

SHARPE MEMORIAL CHURCH OF THE NAZARENE

Report of the Trustees and Financial Statements for the year ended 30 September 2024

REGISTERED CHARITY NUMBER: SC010058

Passionate about God | Passionate about People

SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS for the year ended 30 September 2024

CONTENTS
Page
Report of the Trustees 1
Report of the Independent Examiner 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14

Passionate about God | Passionate about People

SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES for the year ended 30 September 2024

The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name

Sharpe Memorial Church of the Nazarene (also known as Glasgow East Nazarene)

Registered Charity number

SC010058 (Registered with the Office of the Scottish Charity Regulator)

Principal address

12-14 Burgher Street Parkhead Glasgow G31 4TB

Trustees

The trustees who served during the period under review were:

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During the year, resigned as Joint Lead Lead Pastor.

was appointed as sole

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document and is constituted as a Scottish Charitable Incorporated Organisation (SCIO). It was formed on 26 April 2012 and took over the undertaking of the unincorporated association, Sharpe Memorial Church of the Nazarene, on 1 June 2012.

The church, founded in 1906, is a congregation of the international Church of the Nazarene and is guided in structure, governance and practice by the 'Manual' of the denomination. Each local congregation in the denomination is autonomous in all respects of governance and financial responsibility.

Recruitment and appointment of new trustees

Appointment of new trustees is by election at the Annual General Meeting.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

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OBJECTIVES AND ACTIVITIES

Objectives and aims

The Church seeks to create a healthy and supportive environment, community, and program in which members, attenders and friends of the church can grow and flourish in their personal, social, and spiritual life. While the church maintains and celebrates Christian values, ethos and practice, all the regular activities of the church are open to all members of the public irrespective of religion/belief, race/ethnicity, gender/sexual orientation, disability or age.

The constitutional aims and objectives of the church are defined locally as:

This is expressed and captured in the daily life and rhythm of the church in the following ways:

Strapline: Passionate about God! Passionate about People!

Four Strategic Directions: Engaging With God Building Relationships Empowering People Becoming Peacemakers Five Core Values: Hospitality Authenticity Compassion Justice Service

Significant activities

The activities of the church seek to fulfil our purpose, aims and objectives by “Supporting Progression” towards integration, inclusion, aspiration and participation . We aim to:

  1. Affirm the individual and their family;

  2. Connect them with a supportive and positive church community and other similar groups;

  3. Supporting them to Build their personal, social and spiritual life; and

  4. Cooperate to enhance personal contribution to and participation in the life of church, community and society.

Ministry Reach

The Trustees are thankful for the wide variety of ministries and activities within our church, and are thankful to every person who helps, leads, and attends. We have a number of expressions of ministry and service, reaching a wide regular weekly constituency of a different people. This is split between the regular worshipping communities (Sunday at Parkhead Nazarene and The Charter, plus the Recovery Church) and those who we reach during the week in a multitude of ways.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES continued OBJEcfivES AND AcrivrriES continued Vlslon and Prlorlttes The thiee priorities identified in our strategy are as follows.. Prayer lour starting wint as God sends u5 Out into His worldl. Acttvé DlstlplÈshlp Ihow God prepares and shapes us like Jesus to be sent outl. Plant Ithe way in which we give expression to GIMfs love and Kingdom in new ways and places). While we see these as Priorities. we also recognise that they form a very familiar pattem in the lrfe of jesus. which we represent in the following way". xpress. ant Implant Ki￿d0M DISCIPLEI I￿3[ning 10 live. speak. act like Imeetin8 Wth and sent from the ptesence of ather, kn & HO￿ 5pirii PRAYER: This is priority number ONE. Prayer should be the Th￿St normal and natural part of our lives as followers of jesus. and as our life tO8ether as a church. It is our spiritual -life breath- and we want to teach, model and explore the deeper life of wayer. We iealise that God is leading us into some b￿. important and frankly challenging areas of ministry arKI vision, and we ca￿r￿t do sowithout being invested in prayer. Simply put, there are thin8s we cannot do on our own or 108elher unless we have been in prayer. &), we want to increasin8ly become a PRAYING PEOPLE. ACTIVE DISCIPLESHIP or ￿HE JESUS SHAPED UFE" We ha￿ notKed that the word discipleship can I understood in many different Ways Isome of them limited) and so we want to be clear on what we mean by it. When we think of discipleship. we vnean albwing God to shape our INe5 and our living into the shape of Je5U5- what he doe5. think5. Says. prioriti5es- The"Je5us Shaped Life". We a150 rrbean that we learn better by doin& not just hearing whal we should do- hence the word-3rtive- discipleship. How can we be shaped tO8ether by doin8 the kind of thirb8S that Jesus did and still warbts to do through His Church? This is a shift in our model of di51ipleship. whiih ha5 traditionally Ixen thiough veibal teaching and talking. While that 15 Still important, we want to invesl nM)re intentionally in learning actively. So. we want to increasinBly ￿coMe a JESUS SHAPED AND IESUS SHAPING PEOPLE. GO or PLANT: We have already agreed as a church that we want to focu5 on planting new cownmunitie5 of faith in new places. We envisage a network of worshippiw disti￿1n8, outreaching communities of faith Ichurchesl that seek to brirbg God's tr3nsformin8 k)ve into new areas. We have already planted the Recovery Church and The Charter. but we are asking God W￿re else arKI what else rrbight He have for us as we move outwards as a Church. However, ¥￿ also w3nt to encourage one another to consider how we plant 2nd Passionate about God I Passionate about People

SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES continued

implant God’s love wherever we are from one day to the next. We are sent by God into the world to reflect and express a different way of living that is good, grace-filled, hope-filled and faith-filled. We are prepared for this through Active discipleship and becoming Jesus Shaped People – but we still need to go and do!

As part of our focus on these priorities, the Church Board structure has been organised into teams that can take responsibility for these key areas while simultaneously covering some other essential responsibilities. The Church Board is now made up of five teams as follows:

i) Management and Admin (Legal, Finance, Property, Corporate Governance, HR, etc) ii) Discipleship (including Prayer) iii) Evangelism and Community Outreach iv) The Charter v) Church Planting

We hope that organising in this way will help us realise the vision we have for the future.

LEAD PASTOR REPORT

by Rev Shelley Kenny

This has been one of the toughest years for a while in terms of ministry, with stepping back from leadership in January and the loss of in April, it was a tough beginning to the year and a huge change in terms of ministry team leadership. It is important to note specifically how thankful I am for leadership and support even since stepping back from his official role. It was a complete joy and privilege to serve alongside him and I have really felt the impact of not having his co-pastor leadership. I am so thankful that and the girls are still very much present in the church and they have been a huge encouragement to me over the year.

At the same time, I have felt the loss of . Such wisdom and grace all rolled into one man. It was not until Wes passed that I fully understood the impact of his tremendous support, and we have missed him massively from the team this year.

God, in his unending provision, was already preparing new leaders to step into key roles. We have witnessed this not only within the ministry team but also across the wider church, as some of our faithful leaders began to step into new groups, and lead in new ways. I am grateful for , for their faithful leadership through many transitions and in the midst of their own grief. They have helped steady the ship with their constant stability and they have pointed to Jesus throughout it all.

At the same time, we have been so thankful for two new staff members. came onto the team at the beginning of the year and joined just a few months later. These two have such a heart for what we are doing in the East End and a heart for Jesus, and they have quickly settled in. They have had to adapt and learn swiftly because of the circumstances in which they were arriving, but they have handled it so well and have been an amazing addition to the church. We have been blessed by them this year.

This report will focus both on Parkhead and the Charter as this year we have had a keen focus on linking both churches, deepening relationships and sharing resources. As a result of this focus, much of what we have done this year has been rolled out in both places, with a particular emphasis for each location. This has been great for strengthening the identity of the Charter and giving greater connection to the wider church for newer members. Our primary focus in both places has been discipleship, recognising the great need for a closer walk with Jesus as the priority to foster genuine community.

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God has been so good to us. We have grown as a church, physically and spiritually. We have kept a focus on prayer and seen many answers throughout the year as people have experienced the transforming power of God at work in their lives. In May, we specifically took part in 24/7 prayer at the Charter, led

by and a team from churches around the East End. This was a great focus for us, and we saw amazing unity between the churches as we made sure our community was covered with prayer for every hour of the week. We had many people from the community come in to pray during the time and a huge range of ages who gave time to pray together. It was inspiring and heartwarming to think of how God was being worshipped in that small space that used to be a pub. Thank you to the team who called us to pray and organised it to make it happen.

We had men’s and women’s weekends take place at Gowanbank this year and both groups testified to it being a significant time of growth and fellowship. We also had a huge number (54) attend our church holiday, Northbreak, in the summer. We are so grateful to the teams for organising and for the speakers facilitating such special times together. These events are so significant in growing in our relationship with God but also in strengthening our relationships as Church so that there is such genuine love between us.

As a Pastor within the Nazarene denomination there are some responsibilities I have for our District church. As such I continued to be involved in the developing of new pastors and leaders and so I attended the Ministry Exploration Centre in Manchester in September. This is always a privilege to be involved in, and I am considering how to continue to release and give opportunity for those gifted in certain areas to lead within our church. As part of this, I met three times with a group of people who we recognise as having potential for speaking and leading in new ways. As a result, they have led prayer groups, taught bible studies, led worship and training days, and preached both at Parkhead and the Charter. It has been so good to give space for others to lead in new ways and develop their gifts.

What I will say, in closing, is this - God is faithful! We reflect on this every year and every year it should, rightly, be our main focus. We have seen incredible things happen this year despite the challenges we have been facing: beautiful testimonies of transformation, many baptisms, people committing to the church, and ministries reaching out into our communities. Each of these is an example of God’s grace at work in and through the commitment of servant leaders.

I am really excited for what God will do this year as we continue to draw close to Him and allow Him to be at work in our lives. When I think about our church present in these communities, it makes me think of the light of Christ shining brightly and giving light to those still walking in darkness. I pray that this year we will let our light shine so brightly that people will see what we do and glorify our Father in heaven. (Matthew5:16)

MINISTRIES

(a) Community ministries

The Charter Café

We have three cafes which run weekly at the Charter - Wednesday and Friday Cafes run from 10.30am until 2.00pm, with the Saturday Café running from 10.15am to 12 noon. The latter serves those who attend the Tollcross Park Parkrun event, but is also open to the community, whilst the Wednesday and Friday Cafes are community focussed. These cafes are very much the soft mission front of the Charter, enabling us to contact a cross section of the local community. Our numbers vary from the quite quiet to the very busy, but we always seem to go through plenty of scones and soup. The cafes present great opportunity to get to know people. To talk through some of the issues they face or simply lend a listening ear to people's stories.

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MINISTRIES continued

(a) Community ministries continued

We are blessed to have opportunities to share our faith, to pray with people, and to be able to invite people along to church - some still express surprise that what looks like a pub is actually a church! We are thankful to the all the volunteers who are involved with the cafes, from getting the supplies in, making the food, serving with a smile or simply chatting to people. We see various groups using the Cafe as a safe space - Bethany Christian Trust, GamH, SACRO, various walking groups, etc. We are thankful that the Holy Spirit, the Charter building and the volunteers combine to make the cafes a safe, welcoming and loving place to come to, and a pointer to the safe refuge Jesus offers. It has been good to have members of the ministry team as regulars at the cafe, and this has proved helpful in many ways. Some of our volunteers use the cafe as a training environment for community work through Bethany Christian Trust.

ReSet was our fitness and wellbeing with Fun, Fitness, Food and Fellowship being our model. It was aimed at parents and children in the local community. To gain access to a free light-hearted and fun fitness class (with our own ) with food and fellowship afterwards. It ran from January - June 2024. ReSet originally started in the summer of 2023 and from that we merged ReSet with an Alpha course which successfully ran from November 2023 until the end of January 2024

(b) Children and Youth ministries

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MINISTRIES continued

(c) Senior Adults (Age 50+)

(d) Women

(e) Worship and Discipleship:

(f) Other:

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PARTNERSHIPS

Partnerships are important for us as a congregation and so we are also thankful for our connections and work with the Bethany Christian Trust . Bethany owns a number of flats in the Parkhead area, which have provided new homes for some of our own people. role within Bethany that connects us directly with the ongoing housing support project. There are plans for more flats and more partnership. We also partner with Bethany in running a “Care Van” in Parkhead every Friday providing refreshments and food and caring contact to the local community.

We continue to partner with Peaced Together, an arts-based project that seeks to minister into the lives of women who have experienced Trauma in their lives. We continue to seek to bring new skills, experience and programs into the church that can help us minister more effectively in some of the complex areas of life. We believe that partnership with other groups is part of our unity in Christ, and we are thankful for the opportunity to do so.

FINANCIAL REVIEW

Giving and Finance

The Church has been blessed in these last years with committed and faithful giving. As a Church, we are of the opinion that regular personal giving (tithes and offerings) is first and foremost about worshipping, thanking and trusting God. It is part of our life as followers of Jesus. However, we are also thankful that the Church can continue to expand its ministry because of generous giving.

We review our finances every month to make sure we are using the funds appropriately and accounting for them transparently. We also take time to assess giving, especially when we are launching new projects “in faith”. This is largely due to people moving their giving online or by Standing Order, which also stabilises giving. We are thankful to the commitment of our members and attenders in this regard.

Principal funding sources

Funding of the church activities and programmes is through the regular and gift-aided giving of the church members and adherents. Some additional denominated support may be given from time to time. The church also contributes to the work of the church in its national and international operations. The trustees contribute to the governance of the church without financial reward. Reimbursement may be claimed for receipted expenses. These are all reflected in the accounts. Other groups, clubs and organisations that function under the auspices of the church operate their own finances which are monitored regularly.

Fund position

At 30 September 2024, the Church carried forward funds of £1,037,022 (2023 £1,049,479) of which £29,494 (2023 £30,221) was held as unrestricted and £1,007,528 (2023 £1,019,258) as restricted funds.

Reserves policy

It is the policy of the church to reserve funding for one month’s salaries (£9,000 – Salaries Fund), running costs (£2,500 – Building Use Fund, £2,500 Charter Fund) and other costs (£1,000); the total reserve funds amount to £15,000.

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STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity's constitution requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing those financial statements, the trustees are required to

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, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity's constitution. 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.

ON BEHALF OF THE TRUSTEES

2 June 2025

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REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF SHARPE MEMORIAL CHURCH OF THE NAZARENE

I report on the accounts for the year ended 30 September 2024 set out on pages 11 to 20.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

9 June 2025

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SHARPE MEMORIAL CHURCH OF THE NAZARENE STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2024

Year ended
30 September 202		 Year ended
30 September 202		 Year ended
30 September 202		 Year ended
30 September 202		 4 Year ended
30 September 202		 Year ended
30 September 202		 Year ended
30 September 202		 Year ended
30 September 202		 3
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
Notes £ £ £ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income 2 146,174 51,469 197,643 134,626 43,106 177,732
Activities for generating funds
Income from building use 3 13,495 4,403 17,898 15,725 2,395 18,120
Incoming resources from charitable activities
Church activities 4 10,000 - 10,000 7,000 3,491 10,491
Incoming resources from investments
Bank interest 5 797 2,554 3,351 171 1,664 1,835
Total Incoming Resources 170,466 58,426 228,892 157,522 50,656 208,178
RESOURCES EXPENDED
Charitable activities
Ministerial 6 (84,712) (25,668) (110,380) (71,725) (28,726) (100,451)
British Isles North District and Wider Mission 6 (25,509) (6,002) (31,511) (23,512) (4,720) (28,232)
Church activities 6 (60,622) (38,486) (99,108) (56,176) (38,122) (94,298)
6 (170,843) (70,156) (240,999) (151,413) (71,568) (222,981)
Governance costs 7 (350) - (350) (350) - (350)
Total Resources Expended (171,193) (70,156) (241,349) (151,763) (71,568) (223,331)
NET(OUTGOING)/ INCOMING RESOURCES 14 (727) (11,730) (12,457) 5,759 (20,912) (15,153)
TOTAL FUNDS BROUGHT FORWARD 14 30,221 1,019,258 1,049,479 24,462 1,040,170 1,064,632
TOTAL FUNDS CARRIED FORWARD 14 29,494 1,007,528 1,037,022 30,221 1,019,258 1,049,479

Notes 1 to 14 form part of these financial statements.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE BALANCE SHEET At 30 September 2024

BALANCE SHEET
At 30 September 2024		 BALANCE SHEET
At 30 September 2024		 BALANCE SHEET
At 30 September 2024
At
30 September 202		 4 At
30 September 202		 3
Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
Notes £ £ £ £ £ £
FIXED ASSETS
Tangible assets 10 - 790,933 790,933 - 811,329 811,329
CURRENT ASSETS
Debtors 11 924 50 974 1,793 559 2,352
Bank and cash 14 32,520 216,972 249,492 40,178 207,595 247,773
33,444 217,022 250,466 41,971 208,154 250,125
CREDITORS
Amounts falling due within one year 12 (3,950) (427) (4,377) (11,750) (225) (11,975)
NET ASSETS 29,494 1,007,528 1,037,022 30,221 1,019,258 1,049,479
Unrestricted Funds 14 29,494 30,221
Restricted Funds 14 1,007,528 1,019,258
Total Funds 14 1,037,022 1,049,479

The financial statements were approved by the Board of Trustees on 2 June 2025 and were signed on their behalf by:

Notes 1 to 14 form part of these financial statements.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE CASH FLOW STATEMENT For the year ended 30 September 2024

SHARPE MEMORIAL CHURCH OF THE NAZARENE
CASH FLOW STATEMENT
For the year ended 30 September 2024		 SHARPE MEMORIAL CHURCH OF THE NAZARENE
CASH FLOW STATEMENT
For the year ended 30 September 2024		 SHARPE MEMORIAL CHURCH OF THE NAZARENE
CASH FLOW STATEMENT
For the year ended 30 September 2024
Year ended
30 September
2024
Year ended
30 September
2023
£ £
Cash flows from operating activities
Net outgoing resources (12,457) (15,153)
Adjustments for:
Depreciation 20,396 20,396
Interest income (3,351) (1,835)
Interest and similar charges 1,015 1,042
Changes in working capital:
Change in debtors 1,378 (1,107)
Change in creditors (7,598) 1,133
Net cash flows from operating activities (i) (617) 4,476
Cash flows from investing activities
Refund from tangible fixed assets - 11,680
Net cash flows from investing activities (ii) - 11,680
Cash flows from financing activities (iii)
Interest received 3,351 1,835
Interest paid (1,015) (1,042)
Net cash flows from financing activities (iii) 2,336 793
Net increase/(decrease) in cash and cash equivalents (i)+(ii)+(iii) 1,719 16,949
Cash and cash equivalents at beginning of year 247,773 230,824
Cash and cash equivalents at end of year 249,492 247,773

Notes 1 to 14 form part of these financial statements

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS 30 September 2024

1. ACCOUNTING POLICIES

Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)

The charity constitutes a public benefit entity as defined by FRS 102.

Assessment of going concern

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Funds structure

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.

Income recognition

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income it is probable that the income will be received and the amount of income receivable can be measured reliably.

Expenditure recognition

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 reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Costs of charitable activities include ministerial staff costs, district and mission costs and costs associated with church ministries and activities (these include all support and facilities costs) as shown in note 5.

Tangible fixed assets

Depreciation is provided at the following annual rates to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property (Parkhead Nazarene and The Charter buildings) - 2% on cost Fixtures and fittings - 20% on cost

At each balance sheet date, the charity reviews the carrying amount of its tangible fixed 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 to determine the extent of the impairment loss (if any).

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

1. ACCOUNTING POLICIES continued

Financial instruments

All of the charities financial assets and liabilities are measured at amortised cost. Further information on financial instruments is given in Note 13.

Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity contribution is restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included staff costs as set out in note 9.

Taxation

The charity is exempt from tax on its charitable activities.

2. VOLUNTARY INCOME

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Donations 7,995 23,450 31,445 12,758 17,848 30,606
Tithes and offerings 110,126 - 110,126 99,216 - 99,216
Charter fund offerings - 17,803 17,803 - 17,447 17,447
Gift Aid tax refunds 28,053 10,216 38,269 22,652 7,811 30,463
146,174 51,469 197,643 134,626 43,106 177,732

3. ACTIVITIES FOR GENERATING FUNDS

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Income from buildinguse 13,495 4,403 17,898 15,725 2,395 18,120

4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Grants received:

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Asylum Fund - - - - 991 991
Mary Brown trust - - - 7,000 2,500 9,500
Other grants 10,000 - 10,000 - - -
10,000 - 10,000 7,000 3,491 10,491
5. BANK INTEREST RECEIVED
Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Bank interest 797 2,554 3,351 171 1,664 1,835
797 2,554 3,351 171 1,664 1,835

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

6. CHARITABLE ACTIVITIES COSTS

(a) Charitable activities costs analysed by nature of cost are as follows:

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Staff costs 84,712
25,669
110,381		 71,725
28,726
100,451
Depreciation - 20,396 20,396 - 20,396 20,396
21,764
12,598
27,526
6,468
4,077
8,254
1,042
2,996
1,896
7,053
6,588
1,288
584
District expenses 19,546 5,002 24,548 18,044 3,720
Repairs and maintenance 6,248 2,898 9,146 7,474 5,124
Light and heat 22,600 5,217 27,817 23,142 4,384
World Evangelism Fund 5,963 1,000 6,963 5,468 1,000
Church donations 2,692 3,383 6,075 3,481 596
Cleaning and supplies 8,894 2,573 11,467 6,039 2,215
Interest payable and similar charges 1,015 - 1,015 1,042 -
Insurance 2,409 803 3,212 2,007 989
Postage, stationery and photocopying 2,233 - 2,233 952 944
Ministry teams 6,200 2,318 8,518 4,990 2,063
Church expenses 6,719 327 7,046 5,932 656
Telephone and internet 772 505 1,277 603 685
Employee expenses 840 64 904 514 70
170,843 70,156 240,999 151,413 71,568 222,981

(b) Charitable activities costs analysed by function are as follows:

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Ministerial 84,712 25,668 110,380 83,318 14,793 98,111
29,027
85,755
British Isles North District
and Wider Mission		 25,509 6,002 31,511 23,027 6,000
Church activities 60,622 38,486 99,108 55,941 29,814
170,843 70,156 240,999 151,413 71,568 222,981
7. GOVERNANCE COSTS
Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Independent examination 350 - 350 350 - 350
350 - 350 350 - 350

8. TRUSTEES' REMUNERATION AND BENEFITS

(a) The lead pastor and the former joint lead pastor received remuneration and pension contributions during the year ended 30 September 2024 as follows:

Remuneration of £33,979 (2023 £31,782) and pension contributions of £2,288 (2023 £1,823)

Remuneration of £19,104 (2023 £31,782) and pension contributions of £1,256 (2023 £1,770)

(b) Remuneration of pastor trustees is permitted by the Church’s constitution and remuneration of all employees is approved annually by the Church Board.

(c) There were no trustees' expenses paid for the year ended 30 September 2024 or the prior year.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

9. STAFF COSTS

9. STAFF COSTS
Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Wages and salaries 78,521 23,637 102,158 66,398 25,691 92,089
3,446
Social security costs 2,115 622 2,737 1,783 1,663
Pension costs 4,076 1,410 5,486 3,544 1,372 4,916
84,712 25,669 110,381 71,725 28,726 100,451

(b) No employees received emoluments more than £60,000.

(c) Five of the employees are members of a defined contribution stakeholder pension scheme administered by The Church of the Nazarene British Isles North District. Contributions rates that were in force during the year amounted to 5% by the employee and 7% by the employer.

10. TANGIBLE FIXED ASSETS

Freehold
property
(Parkhead
Nazarene)		 Freehold
property
(The
Charter)		 Fixtures
and
fittings		 Total
Year ended 30 September 2024 £ £ £ £
Cost:
At 1 October 2023 854,311 165,543 62,876 1,082,730
At 30 September 2024 854,311 165,543 62,876 1,082,730
Aggregate depreciation:
At 1 October 2023 192,798 15,727 62,876 271,401
Charge for year 17,085 3,311 - 20,396
At 30 September 2024 209,883 19,038 62,876 291,797
Net book value at 30 September 2024 644,428 146,505 - 790,933
Net book value at 30 September 2023 661,513 149,816 - 811,329

Freehold property comprises:

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Gift Aid receivable 924
50
974		 1,793
559
2,352
924 50
974		 1,793
559
2,352

(a) The full amount of gift aid receivable was recovered from HMRC after the year end in both years.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Other creditors (Note(a)) 3,600
427
4,027		 11,400
225
11,625
Accrued expenses 350
-		 350 350
-		 350
3,950
427
4,377		 11,750
225
11,975
(a) Other creditors comprises:
Unrestricted Restricted Total Unrestricted Restricted Total
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Payments in advance 3,600
427
4,027		 1,400
225
1,625
Other grant for 2023/24 paid in advance - - - 10,000
-		 10,000
3,600
427
4,027		 11,400
225
11,625

13. FINANCIAL INSTRUMENTS

(a) Carrying value of financial instruments

The table below sets out the carrying amount and fair value of the company's financial instruments.

2024 2024 2023 2023
Carrying
amount
Fair
value		 Carrying
amount
Fair
value
Note £ £ £ £
Financial assets
Debtors (i)
974
974		 2,352
2,352
Cash (ii)
249,492
249,492		 247,773
247,773
Financial liabilities
Payables (iii)
(350)		 (350) (350) (350)

The carrying amount of these financial instruments is calculated as set out in Note 2. The carrying value of financial instruments is a reasonable approximation of fair value.

(b) Financial risk management

Credit risk

The credit risk associated with debtors is negligible as the amounts are recoverable from Her Majesty’s Revenue and Customs. Similarly, the sums deposited with the Royal Bank of Scotland are deemed to have negligible credit risk. As a result, no impairment provision has been made in respect of these balances.

Treasury liquidity risk

Liquidity risk, the risk that the company will have insufficient funds to meet its liabilities, is managed by the Church board by way of budgets, regular reports on the financial and cash position and cash flow forecasts.

All of the company’s financial liabilities as at 30 September 2024 are due within one year.

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

14. MOVEMENT IN FUNDS AND ANALYSIS OF BALANCE SHEET BY FUND

(a) The movement in fund balances in the year ended 30 September 2024 is set out in the table below:

At
1 October
2023
Incoming
resources		 Resources
expended		 Transfers
between
funds		 At
30 September
2024
£ £ £ £ £
Unrestricted funds
General Fund 8,721
170,466		 (171,193) - 7,994
Special Donations Fund 10,000
-		 - - 10,000
Salaries Fund 9,000
-		 - - 9,000
Building Use Fund 2,500
-		 - - 2,500
30,221
170,466		 (171,193) - 29,494
Restricted funds
Church Building Fund (Main) 661,513
-		 (17,085) - 644,428
Church Planting and Property Fund 173,726
14,104		 (7,986) - 179,844
James and Anne Graham Travel Fund 608
916		 (760) - 764
New Charter Fund 181,372
36,962		 (40,806) - 177,528
Peaced Together 486
120		 - - 606
Recovery Church 427
4,157		 (2,865) - 1,719
NMI Fund - 1,520 1,520
Sunday School Camp - 210 210
YP Fund 676
437		 (428) - 685
Asylum fund 450
-		 (226) - 224
1,019,258
58,426		 (70,156) - 1,007,528
TOTAL FUNDS 1,049,479
228,892		 (241,349) - 1,037,022

(i) Any costs for the building use in excess of income received are funded by transfers from the General Fund.

(ii) Other transfers between funds are made at the discretion of the Trustees.

below:
As at 30 September 2024 Tangible assets Debtors Bank and
cash		 Creditors
due within
oneyear		 Net assets per
Balance Sheet
£ £ £ £ £
Unrestricted funds
General Fund - 924 11,020 (3,950) 7,994
Special Donations Fund - - 10,000 - 10,000
Salaries Fund - - 9,000 - 9,000
Building use fund - - 2,500 - 2,500
- 924 32,520 (3,950) 29,494
Restricted funds
Church Building Fund (Main) 644,428 - - - 644,428
Church Property and Planting Fund - - 179,844 - 179,844
James and Anne Graham Travel Fund - - 764 - 764
New Charter Fund 146,505 50 30,973 - 177,528
YP Fund - - 685 - 685
Recovery Church - - 1,719 - 1,719
Mens'and Womens'retreats - - 427 (427) -
NMI Fund - - 1,520 - 1,520
Sunday School Camp - - 210 - 210
Peaced together - - 606 - 606
Asylum ministry - - 224 - 224
790,933 50 216,972 (427) 1,007,528
TOTAL FUNDS 790,933 974 249,492 (4,377) 1,037,022

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SHARPE MEMORIAL CHURCH OF THE NAZARENE NOTES TO THE ACCOUNTS continued 30 September 2024

14. MOVEMENT IN FUNDS AND ANALYSIS OF BALANCE SHEET BY FUND continued

This comprises one off donations and income on which there are no restrictions in use but which the Board has designated be held for special purposes other than normal running costs.

(iv) Building use Fund

Income from the use of the Parkhead Nazarene building is allocated to this fund along with a proportion of the building running costs. This balance includes a reserve of £2,500 to cover one month’s church running costs (excluding salaries).

(v) Church Building Fund (Main)

This is the cumulative balance of funds raised for the construction of the building in Burgher Street and is represented in the balance sheet by the carrying value of the Parkhead Nazarene Church building plus fittings.

(vi) Church Property and Planting fund

The net proceeds of sale of the church manse in 2021, were transferred to Church Planting and Property Fund. The use of this Fund is restricted by the Church of the Nazarene governing rules - the funds can only be used to invest in new property or for church planting.

(vii) James and Anne Graham Travel Fund

This is a fund to provide contributions towards the cost of travel for individuals to attend conferences, events and missions.

(viii) The Charter Fund

This is the cumulative balance of funds that the congregation has raised to purchase the Charter Bar in Tollcross Road, convert it into a church and run it as a community church. It is represented in the balance sheet by the carrying value of The Charter building, as well as cash balances and gift aid receivable.

Monies donated for use by the Church’s Young People group.

This money comprises offerings taken at the monthly Recovery Church service and used towards the costs of running that service, ministries run by Recovery church and donations to charities involved with the recovery community.

This fund is used to account for the costs of running separate mens’ and womens’ retreat weekends. A deposit is paid in advance by the Church for the accommodation which is subsequently recovered through the contributions of those attending.

This fund is set aside to fund donations in respect of overseas mission work.

This fund is set aside to fund cost relating to the district summer Sunday school camp.

(xiv) Peaced Together

This fund represents grant funding received to run an arts-based project that seeks to minister into the lives of women who have experienced Trauma in their lives less the costs of that ministry.

(xv) Asylum ministry

This money is funding raised for work with the Asylum and refugee community. At 30 September 2023, the funding for this work was due in respect of the year commencing 1 October 2024.

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