## **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. 

1 

**Passionate about God | Passionate about People** 



**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

## **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: 

- the advancement of the Christian faith, in particular through public worship, the preaching of the Bible, the administration of the sacraments, supporting ministries that are apostolic in faith and practice, and encouraging holy living, Christian fellowship and service to others; 

- the prevention or relief of poverty by engaging in activities that advance the care, feeding, clothing, shelter, equality and justice of the poor, oppressed and marginalised, particularly in, but not limited to, the east end of Glasgow; and 

- the advancement of education, particularly in respect of biblical principles and ethics. 

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. 

2 

**Passionate about God | Passionate about People** 



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. 

4 

**Passionate about God | Passionate about People** 



**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

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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**Passionate about God | Passionate about People** 



**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

## **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. 

- _**Recovery church**_ Recovery church has been a real blessing in the past 12 months and has continued to grow, and we have seen many people respond to the call to follow Jesus. The highlight of the recovery church in the past year has been the involvement of others from the church who have shared testimony, led responses and have joined the prayer team. Some have been part of the church for 60 years, and others 6 months. This Church is led by Associate pastors . 

- _**Asylum Seeker and Refugee Project.**_ In response to the changes we see in the community with an increasing number of Asylum Seekers and Refugees, this project is run in partnership with local organisations to respond to the needs of social isolation, English Language and Advice services identified within the Asylum and Refugee Community. 

- _**Bridge to freedom.**_ 

- Bridge to Freedom is a Christ based twelve step recovery program for people who are seeking a new way of life by being honest, open minded and willing. The course runs for 1 year & the groups aimed at people who need recovery or looking to maintain recovery. We have light lunch provided by the church then go into the group work on Monday afternoons. We offer additional one to one support and individual prayer. 

- _**Park Run Café**_ 

   - This café is run at the Charter every Saturday morning to offer those taking part in the Tollcross Park “Park Run” a chance to socialise and have a post run chat and tea/coffee. 

- _**ReSET**_ 

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** 

- _Parent and Toddlers (Age 0-3)_ provides a weekly space for supporting parents, structured play for children, and activities for parents and children to bond together. The Friday Toddler group continues to be a hub for many babies, preschoolers, mums, dads and carers. We average between 50 and 70 adults each week, so the space is very well used! Links with the Breastfeeding Network are strong and ongoing and the group is advertised Glasgow wide by NHS Health Visitors. The GEN team has also grown and we have gained volunteers from our own church and even one from a south side church. They are an extremely dedicated group and we are so grateful for all the ways they work to welcome so many people each week. Our ethos is very much a God-willed group rather than just a good- willed group and through care giving, relationship building and continually pointing to who we are as a church, our prayer is that seeds of Jesus’ welcome to all are being sown. 

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**Passionate about God | Passionate about People** 



**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

## **MINISTRIES** _**continued**_ 

- _Kids Club_ This year has been another tiring but rewarding year at Parkhead Nazarene Kids club. We currently have 42 children on our register, with around 20 attending each week. We enjoy games, bible stories, crafts, and snacks. This year we have worked through series on Moses and Joseph. Although it can sometimes be difficult to get everyone listening, we often find the crafts allow us to have the opportunity to really chat and have a laugh with the children. Thank you to each of the team who faithfully give up part of their Wednesday night to serve the children in our community. We are a small team of eight leaders, but we are strong as we have grown together through trusting each other and in our willingness to serve. This year was particularly difficult for the team with the passing of in September. Gillian was a devoted member of our Kids club team and had a real heart for the children who came each week. We miss her dearly but rejoice that she is with her Saviour. 

- _Sunday School_ offers a weekly fun discipleship program for children age 5-12. We currently have 73 children in our Sunday school & creche and we consistently see up to 40 children each week. In recent weeks we have welcomed a number of new families to our Sunday school and have enjoyed getting to know them. The children meet in 4 separate groups (split by age) for their own time of fun & teaching. They enjoy stories, crafts, games & snacks! We are anticipating Sunday School camp will be on again this summer, so keep an eye out for more information about that. A highlight of our year is always the Nativity and it was a pleasure to have so many children wanting to take part this year and having to find parts for them all. 

- _YP (Young people)_ is a weekly discipleship program for young people (12-18 year olds). YP meets each Sunday evening and carries out a varied programme of events focussed round fun and fellowship. 

- _Youth Football_ program in the local community. This is an informal activity based on detached outreach work in specific areas of the community where small pitches or grass areas can be utilised for playing with local young people. 

## **(c) Senior Adults (Age 50+)** 

- _Friends Together_ welcomes people of all ages but focuses on the senior adult age group. It creates a space for social interaction, Christian worship and spiritual direction. 

## **(d) Women** 

- _Coffee & Chat_ meets weekly as a supportive community for women, allowing them to raise and deal with specific issues faced by those in attendance. It includes breakfast, conversation, prayer and reflection. 

## **(e) Worship and Discipleship:** 

- _Sunday Worship_ including music, prayer, preaching/teaching, Sunday School, crèche (at Both Parkhead Nazarene and The Charter) 

- _Weekly Life Groups_ to explore faith, prayer and the bible and to create small groups of belonging, spiritual growth and pastoral care. 

- _Adult Sunday School_ for those keen to develop and deepen their understanding of bible, faith, theology, the church, spirituality etc. 

- _ALPHA_ introduces the Christian Faith within the context of a meal, a talk and discussion groups. 

- _Prayer_ points are provided throughout the week at various times and locations including Prayer Walks in the community. 

- _Pastoral Care_ is offered through life groups, lay pastoral team and clergy and is accessible the community as well as church members. 

## **(f) Other:** 

- _Dedications, Baptisms, Weddings and Funerals._ The Church regularly provides these services to both church members and the local community. 

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**Passionate about God | Passionate about People** 



**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

- _Use of Halls_ . The church continues to engage in community activities allowing the premises to be used for groups such as PARC, Cocaine Anonymous, Narcotics Anonymous, Overeaters Anonymous, SHH Dance, Play busters, Geezabreak, Social Work, NHS and other community organisations. 

## **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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**SHARPE MEMORIAL CHURCH OF THE NAZARENE REPORT OF THE TRUSTEES** _**continued**_ 

## **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 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

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: 

- (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; and 

   - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or 

- (2)  to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


## **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**<br>**30 September 202**|**Year ended**<br>**30 September 202**|**Year ended**<br>**30 September 202**|**Year ended**<br>**30 September 202**|**4**||**Year ended**<br>**30 September 202**|**Year ended**<br>**30 September 202**|**Year ended**<br>**30 September 202**|**Year ended**<br>**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. 

11 

**Passionate about God | Passionate about People** 



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

|**BALANCE SHEET**<br>**At 30 September 2024**|**BALANCE SHEET**<br>**At 30 September 2024**|**BALANCE SHEET**<br>**At 30 September 2024**||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||**At**<br>**30 September 202**||||**4**||At<br>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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**Passionate about God | Passionate about People** 



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

|**SHARPE MEMORIAL CHURCH OF THE NAZARENE**<br>**CASH FLOW STATEMENT**<br>**For the year ended 30 September 2024**|**SHARPE MEMORIAL CHURCH OF THE NAZARENE**<br>**CASH FLOW STATEMENT**<br>**For the year ended 30 September 2024**|**SHARPE MEMORIAL CHURCH OF THE NAZARENE**<br>**CASH FLOW STATEMENT**<br>**For the year ended 30 September 2024**|||||
|---|---|---|---|---|---|---|
|||||**Year ended**<br>**30 September**<br>**2024**|<br>|**Year ended**<br>**30 September**<br>**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 

13 

**Passionate about God | Passionate about People** 



**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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**Passionate about God | Passionate about People** 



**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|



15 

**Passionate about God | Passionate about People** 



**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**<br>**25,669**<br>**110,381**||||71,725<br>28,726<br>100,451|||
|Depreciation|**-**|**20,396**|**20,396**||-|20,396|20,396<br>21,764<br>12,598<br>27,526<br>6,468<br>4,077<br>8,254<br>1,042<br>2,996<br>1,896<br>7,053<br>6,588<br>1,288<br>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<br>29,027<br>85,755|
|British Isles North District<br>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. 

16 

**Passionate about God | Passionate about People** 



**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<br>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|



- (a) The average monthly number of employees (headcount) during the period was six (2023 six). 

(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<br>property<br>(Parkhead<br>Nazarene)||Freehold<br>property<br>(The<br>Charter)||Fixtures<br>and<br>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: 

- The Parkhead Nazarene Church building on Burgher Street, Glasgow with a carrying value of £644,428 (2023 £661,513) which is depreciated over 50 years, 

- The Charter building, a former public house in Tollcross, Glasgow with a carrying value of £146,505 (2022 £149,816) which was purchased in 2018 for conversion into an additional church and community hub.  This building is being depreciated over 50 years. 

## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**Unrestricted**|**Restricted**|**Total**||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||**2024**|**2024**|**2024**||2023|2023|2023|
||**£**|**£**|**£**||£|£|£|
|Gift Aid receivable|**924**<br>**50**<br>**974**||||1,793<br>559<br>2,352|||
||**924**|**50**|<br>**974**||1,793|<br>559|<br>2,352|



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

17 

**Passionate about God | Passionate about People** 



## **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**|<br>**427**|<br>**4,027**||11,400|<br>225|<br>11,625|
|Accrued expenses|**350**|<br>**-**|**350**||350|<br>-|350|
||**3,950**|<br>**427**|<br>**4,377**||11,750|<br>225|<br>11,975|
|(a) Other creditors comprises:||||||||
||**Unrestricted**|**Restricted**|**Total**||Unrestricted|Restricted|Total|
||**2024**|**2024**|**2024**||2023|2023|2023|
||**£**|**£**|**£**||£|£|£|
|Payments in advance|**3,600**|<br>**427**|<br>**4,027**||1,400|<br>225|<br>1,625|
|Other grant for 2023/24 paid in advance|**-**|**-**|**-**||10,000|<br>-|10,000|
||**3,600**|<br>**427**|<br>**4,027**||11,400|<br>225|<br>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<br>amount|<br>Fair<br>value|Carrying<br>amount|<br>Fair<br>value|
||Note|£|£|£|£|
|**Financial assets**||||||
|Debtors|(i)|<br>**974**|<br>**974**|2,352|<br>2,352|
|Cash|(ii)|<br>**249,492**|<br>**249,492**|247,773|<br>247,773|
|**Financial liabilities**||||||
|Payables|(iii)|<br>**(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. 

- (i) While this balance is subject to the impairment requirements of SORP (102), the identified impairment loss was £nil. 

- (ii) Cash is held partly in a current account which earns minimal interest and partly in a deposit accounts which earn interest at 3.0% per annum. 

- (iii) Balances outwith the scope of IFRS 7 ‘Financial Instruments: Disclosure’ have been excluded, namely deposits paid in advance and receipts of grants and rent in advance. 

## **(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. 

18 

**Passionate about God | Passionate about People** 



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

- **(b) The assets and liabilities set out in the balance sheet as at 30 September 2024 are analysed by fund in the table below:** 

|**below:**||||||
|---|---|---|---|---|---|
|As at 30 September 2024|**Tangible assets**|**Debtors**|**Bank and**<br>**cash**|**Creditors**<br>**due within**<br>**oneyear**|**Net assets per**<br>**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**|



19 

**Passionate about God | Passionate about People** 



**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** 

- **(c) The purpose of the each of the funds operated is as follows:** 

- (i) **General Fund** This is the balance of funds and assets held by the church to carry out its general business and is represented in the balance sheet by bank balances, debtors and creditors. 

- (ii) **Special Donations Fund** 

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. 

- (iii) **Salaries Fund** This is a reserve fund to cover one month’s salary costs (£9,000). 

## (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. 

- (ix) **YP Fund** 

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

- (x) **Recovery Church** 

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. 

- (xi) **Mens’ and womens’ retreats** 

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. 

- (xii) **NMI Fund** 

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

- (xiii) **Sunday School Camp Fund** 

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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**Passionate about God | Passionate about People**