REGISTERED CHARITY NUMBER: SC 015409
Report of the Trustees and Financial Statements For The Year Ended 31 July 2024 For Peterhead Baptist Church
Peterhead Baptist Church
Contents of the Financial Statements for the Year Ended 31 July 2024
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|Report of|the|Trustees|1to4|
|Report of the Independent Examiner|5|
|Statement of Financial Activities|6|
|Balance|Sheet|7|
|Statement of Cashflows|8|
|Notes to the Financial|Statements|9 to|15|
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Peterhead Baptist Church
Report of the Trustees for the Year Ended 31 July 2024
The trustees present the annual report and financial statements for the charity of Peterhead Baptist Church for the year ended 31 July 2024. The financial statements have been prepared in accordance with the accounting policies set out in the policies note to the accounts on pages 9 and 10 and comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland published on 16 July 2014.
Objective and Activities,
The primary objective of the church is to serve and advance the Kingdom of God; Father, Son and Holy Spirit — the Creator and Sustainer of all things. Our endeavors to meet that objective are built around a four-part mission statement: Teaching God’s Word; Praying God’s will; Sharing God’s love; Celebrating God’s grace. Through this work, we seek to equip and encourage Christian believers, and to work for the good of those around us, regardless of their beliefs or convictions — declaring in all we do, the Lordship ofJesus Christ, the Eternal Son, the head of the church and the Saviour of humankind, through his life, death and resurrection.
In addition to holding regular Sunday Church services, the church promoted ancillary organisations and their respective activities.
Achievements and performance.
P|Peterheadand Baptist the leadership Church continued of the elders to serve and the the church deacons. family and community under the ministry ofP|
Our Sunday morning services and midweek ministries required the church to be open on almost every day of the week throughout the year, welcoming and serving many people of all kinds from our church family and community. Evening services continue to include smal] group studies, discussion of ‘big questions,’ and praise and testimony evenings.
The church continues to livestream services via a YouTube channel allowing those who are unable to meet with us on a Sunday, to participate in worship with us.
We have been uplifted in the last year by ten baptisms and the induction of three new members.
The church enjoys and has benefitted greatly from the flexibility of our building. The multi-purpose sanctuary has been crucial for the running and development of our ever-expanding youth and children’s ministries — including our toddler group; Solid Rock Kids Club, serving kids from primary one to primary five; and Connect, which serves youth, from primary six to S3.
Following demolition works in our adjacent property, we were delighted to have the return of our church garden which was especially useful for the our summer holiday club, which engaged over a hundred children from our community. We are also heartened and encouraged to see the monthly attendance at Messy church continue to grow toward pre-pandemic numbers.
Our commitment to demonstrating the love of God has continued with a second year of our Warm Welcome ministry which has provided warmth, company, and a cooked meal to help meet the needs of those who are struggling amid the long-term impact of the cost-of-living crisis.
Peterhead Bxpts%t Chuwb Report ofthe Trustees for the Year Ended 31 Juty 2024 We have also Peaced Together, which is a creative arts course aimed at helping women who struggle with their Jnental health. And giwd relaiioTJShip5 with our neighbLwf5 continue as a consequence olthese. The chwth continue5 lo support missionaries in prnyer and by donaiing to theiT ministries this ye. PBC has contributed on a monthly basis to the fmancial support of a Christian famtty worktng in Ind¢)nesia in conjunction with Ptoneers U.K. Ministr). The church also SUPPOMS th¢ Good Shepherd Community in Mumbai. which is faciliraied by Dignity Frttdom NeThwork UK. A PTOPOrtion of our income from member giving is also directed ts) other Christian cwses. locally, nationally and internationally, through our electtV¢ giving ieam. The Women's Fellowship ¢ot)iinued in ih¢ir tradiiion of giving io local ¢ause& giving this year to Marie Curie cancer care. The Work Party contribui¢d 464 gift boxes io the Blythswood Chri$thias $ho¢ box appeal. Peterhead Baptisi Church is committ¢d io p1&1m1n8 a message of hope and prn¢¢ical help for thos¢ who know the Lord and for thos¢ who do noi. May the Lord Ix 8lorified in erythIng w¢ do. FINANCIAL REVIEW Prlndpal source olfunds The church receives most of its fiJndinB chw¢h memb¢rs by wgy of weekly off¢rin8s and gift aid donations. Re5Mltsfor theye•r These are sei out in pages 6 to IS. Th¢ nd surplus for th¢ year w&% £55.92112023 d¢fi¢ii of £2.428). ResenYspoIIry It IS the ¢hurch'5 policy to rnainlain unrestricted funds at 8 level. which will allow the chuTch to continue its ongoing work and provide for ihe mainienance of its assets. Total rt5¢rves including the nei book value of fixed asseis and balances of unrestricted fimds amounted io £2,084,451 {2023.. £2,028,530). Cash balances lo[ £171.186. Grnni maklngpolley The church makes grants and dona¢ions from its unr¢stri¢i¢d in¢om¢ io individuals and organisation$ thai are known io the church ond the trustees, and the ben¢fi¢iaries of which are iovolved in a¢iiviii¢S or ministri¢s, whi¢h are compaiible with the objew of th¢ ¢hyr¢h. Fxlmre Developments W¢ ar¢ Continuing io raise money for major alteralions to our buildings. which will make the premise5 mor¢ fitting for th¢ future. W¢ shall ¢ontinu¢ our outreach owalion, with a view lo helping those in need in ow community. Risk management The tNMees have a duty to ideniify and teview the risks io whith the charlty is ¢xpos¢d and ensure appropriaie contTols are in place to provide reasonable UnCe again fraud and error.
P¢terhead Baptist Churrh Report of ibe Trustees for the Year Ended 31 July 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Gov¢rnlD% Dient Th¢ charity is admini51ered in a¢cordanc¢ wilh the tern of Deed of Con$titution. Recrnllment 8ppolntmeht of Trwsttts TnJsle¢5 are elected by members of ihe Church. Addltlonal goverDAnce Isswes The Church is affiliated io ihc Bawisi Union of Scotland and the Evangelical Alliance. REFERENCE AND ADMINISTRATIVE DETAILS Reg151ered Ch*rily nthmber SCO15409 & AeeountsDts SBI, ALLounidtlls Kegisier¢d Auditors 2 Cross Strett FraseTburgh AB43 9EQ
Peterhead Baptist Church
Report of the Trustees for the Year Ended 31 July 2024
Trustees’ Responsibilities in Relation to the Financial Statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year, which showa true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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— select suitable accounting policies and then apply them consistently;
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observe the method and principles in the applicable Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on their behalf,
ON BEHALF OF THE TRUSTEES
Date: 3335
4
Peterhead Baptist Church
Independent Examiner’s Report to the Trustees of Peterhead Baptist Church for the Year Ended 31 July 2024
I report on the accounts of the charity for the year ended 31 July 2024 which are set out on pages 6 to 15.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts,
Independent examiner’s statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements: * to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SBP Accountants & Registered Auditors 2 Cross Street Fraserburgh Aberdeenshire AB43 9EQ al 75 \ 23 Date:
5
Statemtnt of Actie5 ended 31sl j). 21124 Ure#rldrd uATtrtTtd Rellrtt Totsl Totsl Gethertl FJtAd D¢5ixnold wl 2034 2023 Nol¢ Incomt amd endomrotots from.. Voluntary irvn Afiiviii¢% r( Beneratln8 ltsvesimmi inoo ID¢onwoK Irorn ¢h4TitsbJ¢ Xtivjlbes OLI Into 159J36 68.J22 B,158 181.877 4.677 3.239 I.13 3.-576 Total IOrne g3lJ Cos15 of 8eneiJiin8 fuNIs Chan'¢able &¢tiviii 20.897 178D)9 T•thl Ekpehdltur¢ 151112 178 19J 140 Nei In¢omtlitXPEttdltwtl bEfoT¢ Iw¥¢J ON InTrralments 13.401 42J20 $5,921 (2,428) N¢1 8airtslllossesl w IDY¢JITh¢DIS In1(exP¢rnIIIr¢ 13401 4U2 55,921 12,4281 Tran¥(ers bÈi*een Nel movem¢ot 4UIO 53,91J 2A28) or ytsr &djusim¢nE- Mis¢. ¢XFCh Tohil funds broughi fonYar41 Total fwidst#rrled lorwArd 15 076.887 1 2.03119.58
Pelerhead Baplist Church Balance Sheet Ai 31st July 2024 2024 20LI ed Assets Tangible fixed assets Investnts io ij 1.882.722 1,827.403 1027803 Current Awts Stocks Debtor5 Bonk aTrJ cL8h 12 35.563 171.186 2ffj749 31,950 173.846 205,796 Credltors Fallin8 due within year 13 5.020 4.66 Curr¢ni A58ets 20J,729 201.127 Ntt Assets The funds of the ch8rl¢y: Unrystrlcted Funds G¢neTal fuMJ¥ De$igndd fund$ 15 951.643 1,076.887 1.119.407 1084AS1 2,iIW3(1 Restrlcied Trunds EDdownni F 15 Totsl Funds 2 084 45J Th¢ accounts were approved by the TNstees on , Secmary slee
SleMent of C&shnows Year ejuled 51 J> 2024 Rec4)ncUltion of net movemeL¢ In funds to net csb Ilow from op¢ratlD8 CVI&S 2424 Ntt C45h yner&ted from wrtl4 aetl Nrft J7 3202 Cshftows fmh llnvtstlng •¢tlvltlu: Intrte51 divid¢ThJs T1Ved ttchase ol fix¢d a55dS Prowy d¢nx)liiion PrtKeeds frozn salt of inwesimcms Net C5h prDvkl¢d frorn InbtstlnR •tthltks 4,677 (t8.?6.11 {42.1541 3.259 1158.4U81 Is0) 1135,1491 New Ix)rrowin8S RepaYrn1 ofbmwinK¥ N¢¢ c•sh provmed from llnncln# Artlvl¢le• Cha¢ In (ssh ¥ntt ttylvltthts ID ytAr (2WI) IlJJ,9471 C&slL and La$h 4u1V¢Dl5 broughi forward 171,846 J05.793 C$h t#sh v4ulvaknts tarTl¢d loTh•rd 171 186 17.1
Peterhead Baptst Chutth Notes to the Aecouttts for the Yr Ended 31 Jwly 2024 Nott I Basis ofpr¢par#tion Thc financial staiernenis have been prepared in accurdance with Ac¢ouniing and Reporting by Chariii¢s.' Statement of Recommended Praciic¢ applicable lo chariiies preparing their accounts in acuJTdance with the Financial Reporting Siandard5 applicable in the UK and Republic of Ireland (FRSI O?), issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic oflreland (FRS102), the Charities and TNsiee Investtnenl (Scoilandl Act 2(M)5 and the Charities accounts (Scotland) Regulation5 2006 {as am¢nd¢d). Th¢ accounts have been prepaTcd in UK £ skrling. Note 2 Actounting policies The principol accouniing policies. which haye been applied consfrstently in the current and preceding year in dealing iiems which ar¢ considered maierial to th¢ accounts, are s¢1 out below. Fund ¥Ic¢otIng Funds are cl#ssilied as either restricied funds or unrestrithed funds, defuKd as follow$'. Restricted funds are funds subject io specific r¢quirem¢nis as to their use which rnoy be declared by th¢ donor or with their authoriry or created through legal proces& bui Siill within the wider objects of the charity. Endowm¢ni fidS are funds which have been 8iven on the condiiion thai the original capital sum 15 noi r¢du¢ed but the iticom¢ therefrom is used for the PUTpose defined in a¢¢ordan¢e with the objects of ihe chariry. Unrtstrirted funds are expendable ai the discrnion of the trusie¢s in funhernlce of the objeclg of th¢ charity. If part5 of ihe unrestricted fund5 are ¢4rniarked al ihe discretion of the tru51tts for a panicul&r purpose. they are designated as a separote fund. This designalion has an administraiive puryx)se only and do¢$ not legally restrict th¢ trustees. discreiion io apply the fund. INCOMIJYG RESOURCES Recogl¢l0n of Ineomin8 resotsrces Income is re¢ognised when the church has eniiilement lo the rtd5, any perfomianc¢ conditions attached io the item($l of income havc been mei, it is probable that the incom¢ M'ill be received and the arnouni ¢an be measured reliably. Incomlng resources wlth lted e%pendltu Vthere incornins resources have related expendiThre, the incorning resources and Telaied expendiwre Are reported ross in the Siat¢M¢nt of Financial Activities. Cranls aMd dongtions Grants and donaiions are only incSud¢d in Ehe Sthtemet)i ofFinancial A¢tivities when the Church has uncondirionai eniiilement io the resources. Tax reclalm$ on donatlolls gllts Incoming resources from re¢laims are included in tht Stsiemenl of Financtal Activilies at the same tim¢ as the gift io which they relaie. Contrattujl Income and p¢rfom#Dce rnlated grants This is onl}. included in the Statement of Financial Aclivilies on¢¢ the relaled goods or services have bttn delivered. Gift5 in klnd Gifts in kind are accowbied for at a reasonable e51imate of their value io th¢ Chw¢h or the amouni they actually Tealised. Gifts in kind for sale or disiribtstion are included Ell the accounts as gifts only when sold OT distributed by the charity.. Gifts in kind for use by th¢ Church are included in th¢ sMent of Financial A¢tivAt&¢s as incoming resour¢es when r¢ceivabl¢.
Peterhead B8ptist Chur¢h Notes to the Ac¢ouDts for the Yr Ended 31 July 2024 Donated $ervices faclllties Donated professional seThic¢s and donated facilities are recognised as income when the charity has control over the At¢m. any conditions asso¢iaied H'iih the donated item have been rneL the r¢ceipl of economic benefit from ih¢ use by The ¢harity of the item 15 probable and that economic benefit can be me&sured reliably. In accordance with the Charilics SOEiP IFRS10?) thegen¢ral volunittrtime of (¢)negal1on members is noi recolSed. On r¢ceipi. th)naled profe55ional services and donated facilities are recognised on th¢ basis of the value of the gift to the charity which is the amount th¢ charity would have been willin8 io pay lo obthin 5erv&ces or faciliiies ofequivalent economic benefit on the open maTket' a ¢OTresFthding amount is then recognised a5 expenditure in the period of receipt. Volunlary help The valve of any voluntary help rec¢ived 15 not included in the accounts but is described in the tNsiees' annual r¢port. Interest retelvabl¢ And inv¢stJnent in¢omt tniercst on funds held on dewsil and income from other investmen1$ is included when r¢¢eivable and the amount can be measured reliably b), the church. This is normally upon notificaiion of the inieresi ordividends paid or payable by the deposii taker or investsnent holder. The Church does noi presently hold any inv¢sthJents other ihan bank d¢posits. EXPENDITURE & LIABILITIES Llability re¢ogniiAon Liabilities 4re recognised as Soon as there is J legal or ¢on51Tuclive obli8aiion committing the Chur¢EI io pay out r¢sourc¢s. ASSETS Tn8lble fixed assets These aTe ¢apiialised if ¢hey can be used for more than one year. They are valu¢d ai ¢o$L value ai l August 2CK)6, or If gifted, at the value to the charity on receipt. No depreciaiion is charged on the frtthold Property on ihe basis thai the e517med residual value ofthe PTopeTty is not ¢onsid¢reil to be significantly different from th¢ cmin8 value of the a5sel and therefore the depreciation charge and th¢ accvmulaied deprrtiaiion are noi material although. due to the nature of the prop¢rties, the trustees do not believe ihat a reliable markel valuati(m is possible. Freehold property expenditure additions in the current year ¢omprise c051s of £56,016 in re5peci of the on80ing work in relation to the new building extension. All demolilion COS¢s have been capitalised as being part of the cost of the new ¢onstruciioD. Depreciaiion is provided a8ainst fixh)re5 and fittings ai ?5•/0 on the reductng balance mthhod. Tangible fixed ass¢15 are included at cosi less depreciaiion and impairnieni. Th¢ residual value is reassessed al the end of ea¢h accounting periixl. Debtors eredltor5 reeefv•bk Ipy4blt wllhin One year Debtors and CTediiors with no stat¢d ini¢re51 fdie and receivable or pa>able within on¢ year ar¢ recorded at transaction price. Any losses arising from impairment are ¢gnised in the pmfil and105s account in other athninistrative Costs. io
Peterhead Bap¢isi Chur¢h Notes to the Accounts for the Year Ended 31st July 2024 UDTestrlcttd Unrtstrkted Restrlct¢d Funds Fwids Funds Gtn¢ml Designoi¢d F4nd Ftshds 2024 2024 TDtsI Tolal 2024 2024 21123 3 DODatiO & le8aeles Church Offerings Tax Recovered UVKler Gift Aid Other Donaiions & Offerin8S Spe¢ial Offerin85 & Colleaions Oiher 133.354 22.697 133J54 31,W6 55,445 111,-505 27.804 41.863 9.2(V) 55.445 3.785 705 Totsl VoluntAry Income iyj 68J22 18J 877 4 Ac¢lvltle5 for Gonerailni FuJbd% Fundraising El'enis Reni Receivable Tolal of Actlvltks for Gentr•tln Fulx 5 Inv¢stmeni Income Bank Inr&41 R¢cei¥able 4.677 4,677 3,259 Tolal Investmeni Income 4.677 4ffj77 6 Other Income Bank Rewards Refund5 Hub renial r#p & second hand s¢5 3,576 her Income 1.095 70
Prt¢rtMd B8plisi ChDTrh Not to the Accounts ror Ibe ¥T End 3] July 21124 Funts Totsl General Fwnd 2Q24 2fj24 2024 2024 2fj23 7 AnalysS¥ of Expendlture Ratskng otfuuth Expendlture Ch8rltsble Atllvllla Pasthr's Saltsry. petssion ar¥J mileage Pulpil Supply Bapiisi Union DoDaiion4 io Ov¢r5¢45 Mission Childr¢n's Mission & her OU¢rh General Donation5 Donaiions 10 Speak¢ H1 R¢Trtuls Catrring Expenses Trdnspon Co%is. Trips & Outings Moderator¥ fe¢& and areh commiiitt's tIn Siuiiiinery. Postll8e & PhOpyin8 Resour£¢s. BIK>ks & Mdftals Misc. Expens¢5 & Affili41ion Fees G¢n¢raJ Repairs & Equipmtni R¢pgirs P0r, Hell & Lighi CkaJLin8 & Urknp Telephone Water Ratss & In5UT4nc¢ Manse Council Tax Cltr,$ W¥g¢s & PMsion Provi5ioN for Depreeiaiion ArLhiteci'5 f¢¢5 gnd ¥¢laied cxptnses SurYeyor5 and Ftasability sludy l¥al F¢¢s Other Propeny Expen#$ REVLCW Fee 44.712 2.024 6.370 44,712 1024 (370 soo 42.016 1.880 5(K> 2.399 23.Y42 21.150 375 45.142 375 411.050 394 5.121 1.274 95 3,420 4,843 9,449 974 5.152 7,362 21,606 7,374 13.524 785 5,313 5.299 3.¥07 642 7.SM 14.352 375 2.083 0.242 8,725 7,534 14 J52 1,108 8.271 8.271 2.463 4.018 1.580 SJ98 5,831 3,225 3,225 2.795 2.22Q 191,140 Total Rtsources Expendtd 151.1 12 17 191140 sup t05t5 hav¢ noi bee sepie]Y itir1ed as th¢ tsyM¢tS fOTrStder th there is only chtiritabl¢ xtsvlly. Ther¢for¢ support I¥[$ rel&e wlM>lly (0 th4E ¥tsviiy aDd have separntety id¢MkfJ¢d. 12
Not¢s ts the Aetounts forthe Year F4th 31st Jlllj 2(114 8 Stsircostslld nurnbefs 40,4JJ 38.544 curity¢osts The av¢rasc Lbof¢mplOyttS durin8 thtyur.cakwTr•tyJ the knl5rf• Xl, WAS loUowJ.' 2W Admin15tJation No emp]oye¢ ttuip¢ OfTWrn¥J1lrIts ifr¢y4Y$sol.1ll During th¢ytaTTN5ttu R¢¢iYtyJ iht foJltriMi ¢xF¢nses.' 24 NkluTt•f P&ym¢Dt S418rylWag¢s Nts try.s1¢¢ ¢x a t¢1J 10 a hwj ID ¢tract LY by ih¢ riiy durin8 ih¢ )w. 10 T•D8tble Fjxtd Ax IAlld & Flthm & Buudtw Fltthjy Cojl or VxlMtlon Ai l Augkn5t ty23 Addjiions DISP1 31 July 1024 I,WJ.911 56.ts16 1.935.102 4.901 A¢tUtyA1ed Deptrdwllo AI l Au8U5¢ 2U2J Char8e fLYCar Elixninaied on Di4<•1s !024 107.6 5,598 5J91 113 Nel BookV41vr Al 31 July 2024 Ai 31 July 2023 1&79J lJ82.7U Utch 791.619 165.P)9 Bui4118 Fund 1.074.308 261.4 .119.4 51133 Km8 Srt The Lhur¢h rurr¢Dty ha5 llo iDY&%utMts. 13
Peterhead Baptist Church
Notes fo the Accounts for the Year Ended 3ist July 2024
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|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|12|Debtors|£|£|
|Income Tax on|Gift|Aid Donations|31,906|27,804|
|Other|Debtors|0|0|
|Prepayments|3,657|4,146|
|35,563|31,950|
|2024|2023|
|13|Creditors|£|£|
|Trade|Creditors|0|0|
|Accrued|Expenses|4,184|3,864|
|Other|836|805|
|5,020|4,669|
|14|Analysis|of Net|Assets|Among Funds|
|Designated|Restricted|
|General|Fund|Funds|Funds|TOTALS|
|£|£|£|
|Fixed|Assets|803,673|1,079,049|0|1,882,722|
|Investments|0|0|0|0|
|Current|Assets|166,391|40,358|0|206,749|
|Current|Liabilities|(5,020)|0|0|(5,020)|
|Net Assets 3ist July 2024|965,044|~|1,119,407|—~O|2,084,451|
|15|Movements|in|Funds|
|At|1|August|Incoming|Outgoing|Transfers/|At 31|July|
|2023|Resources|Resources|Adjustments|2024|
|£|£|£|£|£|
|Restricted|Funds|
|There|are|no|restricted|funds|oO|0|0|0|0|
|Total|Restricted|Funds|0|6|0|0|6|
|Unrestricted|Funds|
|Designated Funds|
|India Fund|2,496|24,538|(19,000)|0|8,034|
|Women's|Association|219|4,567|(4,234)|0|552|
|Building|Fund|1,074,172|40,312|(3,663)|0|1,110,821|
|Total Designated Funds|1,076,887|69,417|(26,897)|0|1,119,407|
|General Funds|
|PBC General|Fund|951,643|164,513|(i1S1,112)|965,044|
|Total|Unrestricted|Funds|2,028,530|233,930|(178,009)|0|2,084,451|
|TOTAL FUNDS|2,028,530|233,930|(178,809)|6|2,084,451|
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Peterhead Baptist Church
Notes to the Accounts for the Year Ended 3ist July 2024
16 Purpose of Main Funds
Restricted Funds
There are no restricted funds
Designated Funds India Fund
The main purpose of the fund is to finance and support missionary work in India.
Building Fund
This fund is to be used for the renovation of the church building.
Unrestricted Funds General Fund
The main purpose of the fund is to finance and support the main day to day activities of the church.
17 Reconciliation of net movements in funds to net cash flow from operating activities
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|---|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Net|movement|in|funds|55,921|-2,428|
|Add|back|depreciation|charge|5,598|5,831|
|Deduct|interest|income|(4,677)|(3,259)|
|Deduct|gains/add|back|losses|on|investments|0|0|
|Decrease/(Increase)|in|debtors|(3,613)|2,165|
|Increase|(decrease)|in|creditors|351|893|
|Net cash generated|from|operating|activities|§3,580|3,202|
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