REGISTERED CHARITY NUMBER: SC013215
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for The Reformed Presbyterian Church of Scotland
McDougall Johnstone Limited 280a St Vincent Street Glasgow G2 5RL
The Reformed Presbyterian Church of Scotland
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Reformed Presbyterian Church of Scotland
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
To promote the advancement of religion and to oversee the activities and witness of the local Churches and overrule on ecclesiastical matters. Presbytery is also responsible for the appointment of its ministers, provision of pensions for its ministers and to encourage the local Churches in their work and witness within their respective communities.
ACHIEVEMENTS AND PERFORMANCE
Achievements
The Presbytery provided guidance to the congregations within the presbytery ( Airdrie, Edinburgh, Glasgow, Stranraer, Stornoway and Brikama) on matters of faith, financial governance,social matters and involvement in their local communities. It is presbytery policy to visit one congregation each year in order to oversee more effectively the spiritual oversight of the congregation.
FINANCIAL REVIEW
Income
The main income in the year was from offerings and donations received on behalf of those Churches which had not yet achieved financial autonomy, church support, rents received and minimal savings interest. Expenditure consisted of the running cost of the Presbytery and also cost incurred on behalf of those Churches which had not yet achieved financial autonomy. A deficit of £5,643 was returned compared to a deficit of £5,339 for 2023.
Reserves
The Presbytery is responsible for providing direct pensions to certain retired Ministers and also for funding the planting of new Churches and training ministerial students. The Presbytery considers it necessary to hold reserves to cover its ongoing responsibilities in these fields. Reserves held at 31 December, 2024 were £222,064.
Going concern
There are no material uncertainties about the charity's ability to continue.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Presbytery
It is the duty of Presbytery to deliberate and rule on all matters affecting the doctrine, discipline,government and worship of the Church. Presbytery also has a duty to oversee the welfare of all congregations within its bounds and to seek the growth of the Church through the establishing of new congregations in Scotland. Oversight and faithful Biblical stewardship of its finances are also within the remit of Presbytery. Presbytery consists of the Ministers of congregations within its bounds, retired Ministers and a representative Elder nominated by each of the Sessions to serve on their behalf on Presbytery.
Congregations and Sessions
Each local Church is governed by Sessions made up of Elders and the Minister. Session is responsible for all organisational aspects of the work of the Church within the congregation, with the congregation being fully autonomous with regards to it's finances and property. The Session is responsible for the spiritual oversight and through a Committee of Deacons elected by the congregation for attending to the material needs of the congregation. The congregation is responsible to its Session. The congregation is responsible for the witness of the Church in the local community.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
SC013215
Principal address
Page 1
The Reformed Presbyterian Church of Scotland
Report of the Trustees
for the Year Ended 31 December 2024
Trustees
Independent Examiner McDougall Johnstone Limited 280a St Vincent Street Glasgow G2 5RL Approved by order of the board of trustees on ............................................. and signed on its behalf by: 26 September 2025
Page 2
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The Reformed Presbyterian Church of Scotland
Statement of Financial Activities
for the Year Ended 31 December 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 153,876 Investment income 2 7,962 Total 161,838 EXPENDITURE ON Charitable activities Charitable Activities 164,238 Governance Costs 1,600 Investment management costs 1,643 Total 167,481 NET INCOME/(EXPENDITURE) (5,643) RECONCILIATION OF FUNDS Total funds brought forward 227,707 TOTAL FUNDS CARRIED FORWARD 222,064 |
2023 Total funds £ 145,600 8,135 153,735 155,516 1,600 1,958 159,074 (5,339) 233,046 227,707 |
|---|---|
The notes form part of these financial statements
Page 4
The Reformed Presbyterian Church of Scotland
Balance Sheet
31 December 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Investment property 7 129,982 CURRENT ASSETS Debtors 8 22,692 Cash at bank 129,013 151,705 CREDITORS Amounts falling due within one year 9 (59,623) NET CURRENT ASSETS 92,082 TOTAL ASSETS LESS CURRENT LIABILITIES 222,064 NET ASSETS 222,064 FUNDS 10 Unrestricted funds 222,064 TOTAL FUNDS 222,064 |
2023 Total funds £ 114,470 13,063 157,661 170,724 (57,487) 113,237 227,707 227,707 227,707 227,707 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ........ ..... .. ..... ...... ....... ...... 26 September 2025 and were signed on its behalf by:
The notes form part of these financial statements
Page 5
The Reformed Presbyterian Church of Scotland
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement 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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Investment Properties Income | 7,896 | 7,666 |
| Bank Interest Received | 66 | 469 |
| 7,962 | 8,135 |
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The Reformed Presbyterian Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
3. AUDITORS' REMUNERATION
| AUDITORS' REMUNERATION | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Fees payable to the charity's auditors for the audit of the charity's financial statements | 1,600 | 1,600 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Total staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Charitable Activities Governance Costs Investment management costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
2024 2023 £ £ 123,216 114,930 14,461 12,487 137,677 127,417 2024 2023 3 3 Unrestricted fund £ 145,600 8,135 153,735 155,516 1,600 1,958 159,074 (5,339) 233,046 |
|---|---|
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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The Reformed Presbyterian Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| TOTAL FUNDS CARRIED FORWARD | 227,707 | |||
| 7. | INVESTMENT PROPERTY | |||
| £ | ||||
| FAIR VALUE | ||||
| At 1 January 2024 | 114,470 | |||
| Additions | 15,512 | |||
| At 31 December 2024 | 129,982 | |||
| NET BOOK VALUE | ||||
| At 31 December 2024 | 129,982 | |||
| At 31 December 2023 | 114,470 | |||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Prepayments and accrued income | 22,692 | 13,063 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Other creditors | 59,623 | 57,487 | ||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 227,707 | (5,643) | 222,064 | |
| TOTAL FUNDS | 227,707 | (5,643) | 222,064 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 161,838 | (167,481) | (5,643) | |
| TOTAL FUNDS | 161,838 | (167,481) | (5,643) |
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The Reformed Presbyterian Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 233,046 |
(5,339) | 227,707 |
| TOTAL FUNDS 233,046 |
(5,339) | 227,707 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 153,735 |
(159,074) | (5,339) |
| TOTAL FUNDS 153,735 |
(159,074) | (5,339) |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 233,046 |
(10,982) | 222,064 |
| TOTAL FUNDS 233,046 |
(10,982) | 222,064 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 315,573 | (326,555) | (10,982) |
| TOTAL FUNDS | 315,573 | (326,555) | (10,982) |
Page 9
The Reformed Presbyterian Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 10
The Reformed Presbyterian Church of Scotland
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 153,876 | 145,600 |
| Investment income | ||
| Investment Properties Income | 7,896 | 7,666 |
| Bank Interest Received | 66 | 469 |
| 7,962 | 8,135 | |
| Total incoming resources | 161,838 | 153,735 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 123,216 | 114,930 |
| Pensions | 14,461 | 12,487 |
| Travelling Expenses | 6,499 | 4,457 |
| Minister Expenses | 8,584 | 7,575 |
| Seminary Costs | 41 | 41 |
| Office costs | 3,087 | 4,017 |
| Sundries | 4,438 | 5,880 |
| Gifts & Charitable Giving | 3,912 | 6,129 |
| 164,238 | 155,516 | |
| Support costs | ||
| Management | ||
| Property repairs & maintenance | 1,643 | 1,958 |
| Governance costs | ||
| Auditors' remuneration | 1,600 | 1,600 |
| Total resources expended | 167,481 | 159,074 |
| Net expenditure | (5,643) | (5,339) |
This page does not form part of the statutory financial statements
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