**REGISTERED CHARITY NUMBER: SC017898** 

**Destiny Church Trust Report of the Trustees and Audited Financial Statements for the Year Ended 31 December 2024** 



**Destiny Church Trust** 

## **Contents of the Financial Statements for the Year Ended 31 December 2024** 

||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Report of the Independent Auditors**|7|
|**Statement of Financial Activities**|11|
|**Balance Sheet**|12|
|**Cash Flow Statement**|13|
|**Notes to the Cash Flow Statement**|14|
|**Notes to the Financial Statements**|15|
|**Detailed Statement of Financial Activities**|30|





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**Destiny Church Trust** 

## **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 aims** 

The principle objectives of the Trust are: 

- The advancement of the Christian faith in accordance with the doctrines set out in the Schedule, the worship of God, the preaching and proclamation of the Christian Gospel, the teaching of Christian doctrine and principle, the pastoral care of Christian people and the printing and distribution of the Bible and Christian literature. 

- The relief of persons who are in conditions of need, hardship and distress or who are aged or sick. 

- The advancement of education on the basis of Christian principles. The provision of such education in any  educational establishment and, if the Trustees so decide, the provision of one or more charitable educational establishments for the general education of children or adults on the basis of such Christian principles. 

- The establishment and support in all areas within Scotland of non-denominational churches, religious centres and groups of individuals who accept the doctrines set out in the Schedule. 

- The establishment of bookstalls, bookshops and other centres (with facilities for providing coffee, tea or other light refreshments, as appropriate) for the distribution and sale of Christian books, literature, multimedia resources and other items for the furtherance of the objects of the Trust. 

The principle aims of the Trust are: 

- Seeing more people attend the Church, 

- The worship of God, 

- The preaching and proclamation of the Christian gospel, 

- The teaching of Christian doctrine and principles, 

- The pastoral care of people, 

- The printing and distribution of the Bible and Christian literature, 

- The prevention and relief of poverty, 

- The advancement of education, 

- The advancement of community development, 

- The care of people in need, and 

- Other activities of benefit to the community and of public benefit. 

## **Public benefit** 

The charity meets the definition of a public benefit entity under FRS 102. 

## **Grantmaking** 

Although not a grant awarding charity, the Trust occasionally awards grants or donations to third party charities following a specific fundraising campaign. The reasons for the fundraising campaign are well publicised at the time  and the amount donated determined by the income raised.  Grants are awarded at the discretion of the trustees. 

## **Volunteers** 

The Trustees want to thank the hundreds of unpaid volunteers for their time, energy, passion, sacrifice and commitment to the aims and objectives of the Trust. We recognise the incredible role they all play and are thankful for every one of them. 

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**Destiny Church Trust** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **ACHIEVEMENTS AND PERFORMANCE Charitable activities Church-Wide Developments** 

In 2024, we continued to build on the momentum of previous years. 

In Glasgow, we brought our Southside and City locations together to begin developing our Shawlands building into a Hope Hub, serving the needs of the South Glasgow community. To accommodate everyone in our City location, we launched multiple Sunday meetings, and later added a third Sunday morning service, which is already nearing full capacity. This has further highlighted our urgent need for a much larger venue to house our growing church family. 

We were thrilled to gather as a church for the Franklin Graham outreach at the Hydro in June, a powerful moment of unity and evangelism. Destiny Aberdeen secured a new centrally located venue at the Academy Shopping Centre, providing a regular meeting space and a strategic base for outreach and growth. Destiny Edinburgh has continued to flourish, with a growing leadership team and many people coming to know Jesus and deepening their walk with God - we are expanding our local evangelism and community outreach programmes. Destiny Stirling has maintained its momentum, continuing to grow and seek a permanent home for future ministry expansion. 

## **Church Growth & Discipleship** 

We've seen incredible spiritual growth and engagement across the church, with over 150 first time decisions to follow Jesus and over 130 recommitments. We welcomed over 500 first time guests; helped 383 people connect with a Net Group; and were encouraged with over 145 new people committing to volunteer in a ministry team. We had over 60 participants attend the According to the Pattern discipleship course and over 35 people taking the step of Water Baptism. We thank God for all this incredible growth and celebrate every decision made. 

## **Social Action Impact** 

Our commitment to serving our communities has remained strong. 

## Food Support: 

We supported 15,141 individuals-including 10,685 adults, 1,637 youth, and 2,819 children-through affordable food provision. 

## Fuel Support: 

Through our partnership with the Fuel Bank Foundation, we were able to help 552 adults and 248 youth/children stay warm and connected. 

## Counselling & Wellbeing: 

- Over 1,500 hours of free community counselling were delivered 

- 2 W.R.A.P. courses supported over 15 individuals in building healthy lifestyle routines 

## Hub Café Reopening: 

The Hub Café reopened in the second half of the year, offering free drinks and snacks. Over 600 adults have used the service, receiving not only refreshments but also friendship and support from our volunteers. 

One of the many remarkable testimonies came from a guest who had been diagnosed with a terminal illness. After receiving prayer from the team, they returned months later to share that they had been healed and given the all-clear by doctors. We thank God for all of those who have come to know Him through the Hub and who are now connected into the local church. 

## Volunteer Contribution: 

We are deeply grateful for the tens of thousands of hours freely given by volunteers in the Hub this year. Their dedication makes everything we do possible. 

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**Destiny Church Trust** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **FINANCIAL REVIEW** 

## **Financial position** 

The financial statements show the overall position of the charity as at 31 December 2024, its incoming resources and the application of these resources for the year ended that date. 

The financial statements show total incoming resources of £1,210,013 (2023- £1,050,074) and resources expended of £1,282,844 (2023 - £1,224,140, including a gain on the sale of investment property of £20,000). Before the net gains on the sale of investment property, a deficit for the year of £72,831 was generated against the prior year deficit of £154,066. There were gains on revaluation of fixed assets of £533,690 arising in the previous year. 

The charity held unrestricted funds of £3,032,866 (2023 - £3,105,717) at the balance sheet date. 

## **Principal funding sources** 

The main source of funds for the Trust derives from donations and offerings from Church members. 

## **Reserves policy** 

It is the charity's policy that unrestricted reserves should be held representing three months' revenue expenditure, so as to take account of anticipated revenue projections, while ensuring the provision of a suitable contingency to protect the continuity of the activities and services for the foreseeable future. Total charity funds, as shown in the Balance Sheet, represents accumulated funds arising from past operating results and the Trustees are satisfied that the level held is sufficient to meet all anticipated liabilities. 

## **Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. 

The Trustees acknowledge the deficit in the year, but are satisfied that given the net asset position and the strong overall position of the balance sheet, the charity can continue to adopt the going concern basis of accounting in preparing the accounts. 

## **FUTURE PLANS** 

We are continuing our search for a much larger premises for our Glasgow church, as we have now outgrown our current facilities-even with three Sunday services. 

We are actively looking for a permanent home for Destiny Stirling. 

Our aim is to launch a second Charity Superstore in the coming year - providing a great outreach opportunity as well as raising funds for the continued efforts of the ministry. 

We are excited and expectant for what God will do in the coming year as we prepare for the next phase of growth and impact. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is an unincorporated charity formed under a Trust Deed on 2 June 1991, as amended by a Deed of Variation dated 8 July 2008. The Deed established the charity's objects and powers and this is also the charity's governing document.  It is registered as a charity in Scotland, charity registration number SC017898. 

## **Recruitment and appointment of new trustees** 

The Trustees may make appointment of additional or replacement trustees as they from time to time deem appropriate and such appointments may be made by a resolution of a meeting of the Trustees provided that such resolution be  signed by the person presiding at such meeting. 

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**Destiny Church Trust** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure** 

The Trustees take all major financial decisions concerning the activities of the Trust. The appointment of additional Trustees is at the discretion of the existing Trustees. 

Trustees meet quarterly in the UK, and correspond regularly by e-mail in the intervening periods. A separate independent salary review board meets to review, discuss and give any recommendations concerning salary changes namely for Andrew and Sue Owen. 

## **Induction and training of new trustees** 

Any new Trustees are given a day's introduction to the work of the Trust and are presented with copies of the OSCR publication "Guidance for Charity Trustees" and the Charity Commission publication CC10 "Hallmarks of an Effective Charity", as well as copies of other policies and procedures as appropriate. 

## **Key management remuneration** 

There are no other key management other than those outlined in the Reference and Administration section of this report. Remuneration of key management is outlined in the notes to the financial statements. 

## **Wider network** 

The following charities are not classed as a related party to Destiny Church Trust however they are part of the wider Destiny network and co-operate in the pursuit of common charitable objectives: 

Destiny Church e.V 

Destiny Church Prague Association Church on the rise, Wales 


## **Related parties** 

## Destiny Ministries 

This is an unincorporated Scottish charity with registered number SC020228. The charities shared one common  Trustee during the year. In addition, the business manager of the charity was a Trustees/business manager of Destiny Ministries in the year. 

## Destiny Retail No.1 Limited 

This is a Scottish company with registered number SC578156. Four of the Trustees in Destiny Church Trust are Directors of the company.  In addition, one of the business managers in the charity is also a director of the company. 

## Destiny Church London 

This is a charity registered in England with charity registered number 1176623. The charities share one common Trustee and a key manager in Destiny Church Trust is also a Trustee in Destiny Church London. 

## Destiny Community Enterprise 

This charity is a SCIO with registered charity number SC045696 and company number CS001971. The charities  shared one common Trustee during the year. 

## Jesus Alive Gospel Outreach 

This is an incorporated Scottish charity with company number SC285658 and charity number SC036592. The charities shared one common Trustee during the year. 

## **Risk management** 

The Trustees perform periodic risk assessments, identifying possible risks and reviewing the systems and procedures in place to mitigate them. During 2021, as part of our risk management strategy, the Trusts solicitors - Aberdein Consodine - conducted a governance review of the governance and management practises and policies of the trust. A number of recommendations were given, including reviewing our scheme of delegation, updating our complaints procedures and conducting training for trustees and key management. These measures were implemented in the months that followed  the review. 

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**Destiny Church Trust** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

SC017898 

## **Principal address** 

1120 Pollokshaws Road Glasgow G41 3QP 

## **Trustees** 

## **Senior management team** 

- Business manager 

## **Auditors** 

Gillespie & Anderson Statutory Auditors Chartered Accountants 147 Bath Street Glasgow G2 4SN 

## **Bankers** 

Clydesdale Bank 21 Kilmarnock Road Glasgow G41 3YW 

Kingdom Bank Media House Padge Road Nottingham NG9 2RS 

The Royal Bank of Scotland 10 Gordon Street Glasgow G1 3PL 

## **WEBSITE** 

www.destiny-church.com 

## **TRUSTEES' RESPONSIBILITY STATEMENT** 

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). 

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**Destiny Church Trust** 

## **Report of the Trustees for the Year Ended 31 December 2024** 

## **TRUSTEES' RESPONSIBILITY STATEMENT - continued** 

The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) 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; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- 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 (as amended) 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. 

## **STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS** 

So far as the Trustees are aware, there is no relevant audit information of which the charity's auditor is unaware, and each Trustee has taken all the steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. 

## **AUDITORS** 

The Auditors, Gillespie & Anderson, have expressed a willingness to continue in office. 

Approved by order of the board of trustees on 23 September 2025 and signed on its behalf by: 


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## **Report of the Independent Auditors to the Trustees of Destiny Church Trust** 

## **Opinion** 

We have audited the financial statements of Destiny Church Trust (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that  has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources  and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act  2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in  doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations  2006 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- proper accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

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## **Report of the Independent Auditors to the Trustees of Destiny Church Trust** 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a  going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

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## **Report of the Independent Auditors to the Trustees of Destiny Church Trust** 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act  2005 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes  our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in  accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our approach and assessment were as follows: 

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. 

Enquire of management and review supporting documentation concerning the charity's policies and procedures relating to: 

- identify, evaluate and comply with laws and regulations and their awareness of any instances of non-compliance; 

- detect and respond to the risks of irregularities, fraud and their knowledge of any actual, suspected or alleged fraud; 

- internal controls established to mitigate risks related to, unusual items, fraud or non-compliance with laws and regulations. 

Obtain an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the charity. The key laws and regulations we considered in this context included the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006, and the applicable Statement of Recommended Practice (SORP) together with health and safety regulations, employment legislation and data protection legislation. 

Discuss among the engagement team how and where irregularities might occur in the financial statements and potential indicators of fraud. Identify potential audit risks in relation to income recognition, authorisation of expenses and possible management override of controls. 

Communicate relevant identified laws and regulations and potential irregularity risks to all engagement team members and remain alert to any indications of unusual items, fraud or non-compliance with laws and regulations throughout  the audit. 

Review all Minutes of Meetings of those charged with governance, Reports and correspondence with HMRC and legal advisers. 

Perform audit testing which covers the audit assumptions of: existence, completeness, rights and obligations, accuracy and valuation in respect of income recognition and expenditure incurred. 

Evaluate the overall presentation, structure and content of the financial statements, including disclosures, by performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to an irregularity or fraud.  Agree financial statement disclosures to underlying documents. 

Assess whether the financial statements represent the underlying transactions and events in a manner that achieves compliance with relevant laws and regulations. 

To address the risk of fraud through management override of controls and management bias, we: assess the rationale behind significant or unusual transactions identified through audit testing and assess where management judgement  used in determining accounting estimates were indicative of potential bias. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations  are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards  also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence. 

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## **Report of the Independent Auditors to the Trustees of Destiny Church Trust** 

Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Statutory Auditors Chartered Accountants 147 Bath Street Glasgow G2 4SN 

23 September 2025 

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## **Destiny Church Trust** 

## **Statement of Financial Activities** 

## **for the Year Ended 31 December 2024** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>5<br>Charitable activities<br>Other trading activities<br>3<br>Investment income<br>4<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>6<br>Charitable activities<br>Net gains on investments<br>**NET INCOME/(EXPENDITURE)**<br>**Other recognised gains/(losses)**<br>Gains on revaluation of fixed assets<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>funds<br>£<br>1,061,869<br>52,803<br>79,683<br>15,658<br>1,210,013<br>1,282,844<br>-<br>(72,831)<br>-<br>(72,831)<br>3,105,717<br>3,032,886|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|2024<br>Total<br>funds<br>£<br>1,061,869<br>52,803<br>79,683<br>15,658<br>1,210,013<br>1,282,844<br>-<br>(72,831)<br>-<br>(72,831)<br>3,105,717<br>3,032,886|2023<br>Total<br>funds<br>£<br>920,102<br>66,529<br>43,452<br>19,991<br>1,050,074<br>1,204,140<br>20,000<br>(134,066)<br>533,690<br>399,624<br>2,706,093<br>3,105,717|
|---|---|---|---|---|



The notes form part of these financial statements 

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## **Destiny Church Trust** 

|**FIXED ASSETS**<br>Intangible assets<br>Tangible assets<br>**Investments**<br>Investments<br>Investment property<br>**CURRENT ASSETS**<br>Debtors<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**CREDITORS**<br>Amounts falling due after more than one year<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted funds<br>**TOTAL FUNDS**|**Balance Sheet**<br>**31 December 2024**<br>Notes<br>13<br>14<br>15<br>16<br>17<br>18<br>19<br>23|2024<br>£<br>2,607<br>4,394,638<br>1<br>-<br>4,397,246<br>114,953<br>61,649<br>176,602<br>(186,600)<br>(9,998)<br>4,387,248<br>(1,354,362)<br>3,032,886<br>3,032,886<br>3,032,886|2023<br>£<br>3,234<br>4,481,178<br>1<br>9,707<br>4,494,120<br>39,634<br>150,705<br>190,339<br>(180,092)<br>10,247<br>4,504,367<br>(1,398,650)<br>3,105,717<br>3,105,717<br>3,105,717|
|---|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2025 and were signed on its behalf by: 


The notes form part of these financial statements 

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## **Destiny Church Trust** 

|**Cash Flow Statement**<br>**for the Year Ended 31 December**<br>Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Interest paid<br>Net cash provided by/(used in) operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Sale of tangible fixed assets<br>Sale of investment property<br>Interest received<br>Net cash (used in)/provided by investing activities<br>**Cash flows from financing activities**<br>New loans in year<br>Loan repayments in year<br>Loan redemption<br>Net cash used in financing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**Cash Flow Statement**<br>**for the Year Ended 31 December**|**2024**<br>2024<br>£<br>118,277<br>(117,396)<br>881<br>(2,318)<br>(9,707)<br>9,707<br>-<br>(2,318)<br>900,000<br>(98,171)<br>(889,448)<br>(87,619)<br>(89,056)<br>150,705<br>61,649|2023<br>£<br>74,892<br>(118,220)<br>(43,328)<br>(2,459)<br>665<br>200,000<br>50<br>198,256<br>-<br>(103,140)<br>-<br>(103,140)<br>51,788<br>98,917<br>150,705|
|---|---|---|---|



The notes form part of these financial statements 

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## **Destiny Church Trust** 

## **Notes to the Cash Flow Statement for the Year Ended 31 December 2024** 

## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**|||||
|---|---|---|---|---|
||||2024|2023|
||||£|£|
|**Net expenditure for the reporting period (as per**|**the Statement of**||||
|**Financial Activities)**|||(72,831)|(134,066)|
|**Adjustments for:**|||||
|Depreciation charges|||89,485|104,104|
|Losses on investments|||-|(20,000)|
|Loss/(profit) on disposal of fixed assets|||9,707|(666)|
|Interest received|||-|(50)|
|Interest paid|||117,396|118,220|
|(Increase)/decrease in debtors|||(75,319)|15,131|
|Increase/(decrease) in creditors|||49,839|(7,781)|
|**Net cash provided by operations**|||118,277|74,892|
|**ANALYSIS OF CHANGES IN NET DEBT**|||||
||At|1.1.24|Cash flow|At 31.12.24|
|||£|£|£|
|**Net cash**|||||
|Cash at bank|150,705||(89,056)|61,649|
||150,705||(89,056)|61,649|
|**Debt**|||||
|Debts falling due within 1 year|(113,271)||43,331|(69,940)|
|Debts falling due after 1 year|(1,398,650)||44,288|(1,354,362)|
||(1,511,921)||87,619|(1,424,302)|
|**Total**|(1,361,216)||(1,437)|(1,362,653)|



## **2. ANALYSIS OF CHANGES IN NET DEBT** 

The notes form part of these financial statements 

Page 14 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **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 and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity  has adequate resources to continue in operational existence for the foreseeable future. 

The Trustees acknowledge the deficit in the year, but are satisfied that given the net asset position and the strong overall position of the balance sheet, the charity can continue to adopt the going concern basis of accounting in preparing the accounts. 

## **Presentation currency** 

The financial statements are presented in pound sterling (£) which is the functional currency of the charity. 

## **Critical accounting judgements and key sources of estimation uncertainty** 

The Trustees have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Trustees estimates, assumptions and judgements that have  a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes. 

## **Income** 

All income is recognised when the charity is entitled to the income, it is probable that the income will be received and the amount can be measured reliably. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements. The following specific policies are applied to particular categories of income: 

Donations and legacies include donations, offerings, donated goods and legacies which are recognised when there is entitlement, receipt is probable and the amount can be measured reliability. Donated goods are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. 

Charitable activities includes income generated from events, grocery community project, cooperative home school programme and grant income received on an accruals basis. Government grants are recognised based on the performance model as the accrual model is not permitted by the Statement of Recommended Practice. 

Other trading activities includes income from hall lettings which is recognised when received. 

Investment income is included when receipt is probable and the amount can be measured reliably. It includes rental income which is recognised when the charity becomes legally entitled to the income. 

## **Expenditure** 

Expenditure has been classified under the headings that aggregate all costs 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 the resources. 

Expenditure is recognised on an accrual basis when a legal liability is incurred, payment of the liability is probable and the amount can be measured reliably. The amount includes any VAT which cannot be fully recovered.  VAT is reported as part of the expenditure to which it relates. 

continued... 

Page 15 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **1. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Charitable activities** 

Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct cost of charitable activities approved by the charity and all support costs relating to these activities. Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements. These costs are allocated entirely to charitable activities. 

## **Allocation and apportionment of costs** 

Support costs are allocated wholly to charitable activities. Whilst the Trustees recognise that a small part of  some items of expenditure included in support costs do relate to indirect governance costs and costs of generating funds, they are of the opinion that the time and costs involved in performing such an analysis outweigh the potential benefits arising from any such work. 

## **Intangible fixed assets** 

Computer software has been capitalised at cost and is being amortised over 10 years on a straight line basis. 

## **Tangible fixed assets** 

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

Freehold property                                   - 1% on valuation Property improvements                           - 10% on cost Fixtures and fittings                                 - 33% on cost Motor vehicles                                        - 33% on cost Computer equipment                               - 33% on cost 

All tangible fixed assets having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. It is the charity's policy to capitalise all relevant expenditure greater than £500. 

If any impairment exists, the carrying amount of the asset shall be reduced to its estimated recoverable amount. 

## **Investment property** 

Investment property is included at the year end fair value. Gains and losses arising on revaluation are included in the Statement of Financial Activities in the year in which they arise. No depreciation is provided on investment property in line with paragraph 10.48 of the charities SORP. 

Investment property includes the investment property element of freehold property that can be separately  valued in accordance with the mixed use property provisions. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Funds are classified as either unrestricted designated funds or restricted funds, defined as follows: 

Unrestricted designated funds are expendable at the discretion of the Trustees in furtherance of the objects of the Trust. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not  legally restrict the Trustees discretion to apply the funds. 

Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor  or with their authority or created through legal process, but still within the wider objects of the Trust. 

continued... 

Page 16 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **1. ACCOUNTING POLICIES - continued** 

## **Fund accounting** 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of financial activities in the period to which they relate. 

## **Employee benefits** 

The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate. 

## **Financial instruments** 

The charity has no complex financial instruments but does hold basic financial instruments of cash at bank, debtors and creditors. 

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.  A bank overdraft is shown within current liabilities. 

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial.  In such cases, trade and other debtors are stated at cost less losses for bad debts. 

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost. 

## **Provisions** 

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised. 

## **2. DONATIONS AND LEGACIES** 

|Tithes<br>Donations<br>Gift aid tax reclaimed<br>Grants<br>Offerings<br>Mortgage contribution<br>Salary contributions<br>Expenses contributions|2024<br>£<br>540,968<br>119,389<br>116,738<br>-<br>181,951<br>54,000<br>44,786<br>4,037<br>1,061,869|2023<br>£<br>464,165<br>77,104<br>83,988<br>71,250<br>138,942<br>47,000<br>32,658<br>4,995|
|---|---|---|
|||920,102|



continued... 

Page 17 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **2. DONATIONS AND LEGACIES - continued** 

Grants received, included in the above, are as follows: 

|||2024|2023|
|---|---|---|---|
|||£|£|
||Souter Charitable Trust|-|40,000|
||Other|-|4,250|
||Benefact Trust|-|27,000|
|||-|71,250|
|**3.**|**OTHER TRADING ACTIVITIES**|||
|||2024|2023|
|||£|£|
||Hall lettings|79,683|43,452|
|**4.**|**INVESTMENT INCOME**|||
|||2024|2023|
|||£|£|
||Rents received|15,658|19,941|
||Deposit account interest|-|50|
|||15,658|19,991|
|**5.**|**INCOME FROM CHARITABLE ACTIVITIES**|||
|||2024|2023|
|||Charitable|Total|
|||activities|activities|
|||£|£|
||Event and other income|5,439|1,785|
||Grocery Community Project|26,811|12,744|
||Cooperative Home School Group - ARMA|||
||Classical|3,053|-|
||Grants|17,500|52,000|
|||52,803|66,529|
||Grants received, included in the above, are as follows:|||
|||2024|2023|
|||£|£|
||Church Revitalisation Trust|17,500|52,000|



continued... 

Page 18 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **6. CHARITABLE ACTIVITIES COSTS** 

|Grant<br>funding of<br>activities<br>Direct<br>(see note<br>Costs<br>7)<br>£<br>£<br>Charitable activities<br>28,841<br>192,085<br>**7.**<br>**GRANTS PAYABLE**<br>Charitable activities<br>The total grants paid to institutions during the year was as follows:<br>Destiny Ministries<br>Destiny Ministries - Indian orphanage appeal<br>Other ministries and charities<br>Other Destiny Churches<br>The total grants paid to individuals during the year was as follows:<br>Grants to individuals<br>**8.**<br>**SUPPORT COSTS**<br>Finance<br>Other<br>£<br>£<br>Charitable activities<br>125,961<br>922,934<br>**9.**<br>**AUDITORS' REMUNERATION**<br>Fees payable to the charity's auditors for the audit of the charity's financial<br>statements<br>Other non-audit services|Support<br>costs (see<br>note 8)<br>£<br>1,061,918<br>2024<br>£<br>192,085<br>2024<br>£<br>171,174<br>-<br>15,750<br>4,261<br>191,185<br>2024<br>£<br>900<br>Governance<br>costs<br>£<br>13,023<br>2024<br>£<br>10,700<br>-|Totals<br>£<br>1,282,844|Totals<br>£<br>1,282,844|
|---|---|---|---|
|||2023<br>£<br>146,772<br>2023<br>£<br>127,268<br>6,180<br>13,000<br>324<br>146,772<br>2023<br>£<br>-<br>Totals<br>£<br>1,061,918|2023<br>£<br>146,772|
||||2023<br>£<br>127,268<br>6,180<br>13,000<br>324|
||||146,772|
|||2023<br>£<br>9,000<br>829||



continued... 

Page 19 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

||2024|2023|
|---|---|---|
||£|£|
|Ministries fees|55,992|55,992|
|Ministries salaries|32,554|32,554|
|Ministries pension contributions to money purchase schemes|1,628|1,628|
||||
||90,174|90,174|
||||



Trustees were remunerated during the year in accordance with the Trust Deed and Deed of Variation dated 8 July 2008. During the year ended 31 December 2024, the charity provided non-cash gift cards to three of its Trustees as a token of appreciation for their voluntary service.The total value of the gift cards amounted to £1,700. 

## **Trustees' expenses** 

There were no Trustees' expense paid for in the year ended 31 December 2024. Two Trustee's expenses in respect of travel costs were reimbursed for the year 31 December 2023. The total expenses reimbursed in the year was £3,260. 

## **11. STAFF COSTS** 

|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries<br>Social security costs<br>Other pension costs|2024<br>£<br>427,228<br>29,339<br>15,910<br>472,477|2023<br>£<br>405,123<br>26,672<br>14,738|
|||446,533|



The average monthly number of employees during the year was as follows: 

|Pastoral<br>Outreach Workers<br>Management<br>Administration<br>Support|2024<br>5<br>1<br>3<br>4<br>10<br>23|2023<br>5<br>1<br>3<br>4<br>9|
|---|---|---|
|||22|



No employees received emoluments in excess of £60,000. 

continued... 

Page 20 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**12.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>funds<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>920,102<br>**Charitable activities**<br>Charitable activities<br>66,529<br>Other trading activities<br>43,452<br>Investment income<br>19,991<br>**Total**<br>1,050,074<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Charitable activities<br>1,200,417<br>Net gains on investments<br>20,000<br>**NET INCOME/(EXPENDITURE)**<br>(130,343)<br>**Other recognised gains/(losses)**<br>Gains on revaluation of fixed assets<br>533,690<br>**Net movement in funds**<br>403,347<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>2,702,370<br>**TOTAL FUNDS CARRIED FORWARD**<br>3,105,717<br>Please note the above figure relate solely to 2023.<br>**13.**<br>**INTANGIBLE FIXED ASSETS**<br>**COST**<br>At 1 January 2024 and 31 December 2024<br>**AMORTISATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023|<br>Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>3,723<br>-<br>(3,723)<br>-<br>(3,723)<br>3,723<br>-|Total<br>funds<br>£<br>920,102<br>66,529<br>43,452<br>19,991<br>1,050,074<br>1,204,140<br>20,000<br>(134,066)<br>533,690<br>399,624<br>2,706,093<br>3,105,717<br>Computer<br>software<br>£<br>6,271<br>3,037<br>627<br>3,664<br>2,607<br>3,234|
|---|---|---|



continued... 

Page 21 



�������������������� ���  � ���� � ������  � � ����� ��  � 

## **Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **14. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 January 2024<br>Additions<br>At 31 December 2024<br>**DEPRECIATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023<br>**COST**<br>At 1 January 2024<br>Additions<br>At 31 December 2024<br>**DEPRECIATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023<br>Properties are shown at cost or valuation, as below:|Freehold<br>property<br>£<br>4,346,196<br>-<br>4,346,196<br>72,092<br>43,462<br>115,554<br>4,230,642<br>4,274,104<br>Motor<br>vehicles<br>£<br>15,000<br>-<br>15,000<br>14,999<br>-<br>14,999<br>1<br>1||Improvements<br>to<br>property<br>£<br>440,595<br>-<br>440,595<br>249,370<br>32,902<br>282,272<br>158,323<br>191,225<br>Computer<br>and media<br>equipment<br>£<br>297,987<br>1,818<br>299,805<br>292,532<br>4,160<br>296,692<br>3,113<br>5,455|Improvements<br>to<br>property<br>£<br>440,595<br>-<br>440,595<br>249,370<br>32,902<br>282,272<br>158,323<br>191,225<br>Computer<br>and media<br>equipment<br>£<br>297,987<br>1,818<br>299,805<br>292,532<br>4,160<br>296,692<br>3,113<br>5,455|Fixtures<br>and<br>fittings<br>£<br>172,376<br>500<br>172,876<br>161,983<br>8,334<br>170,317<br>2,559<br>10,393<br>Totals<br>£<br>5,272,154<br>2,318<br>5,274,472<br>790,976<br>88,858<br>879,834<br>4,394,638<br>4,481,178|
|---|---|---|---|---|---|
|||Historical||Revalued||
|||cost||amount||
|||£||£||
|Church - 1120 Pollokshaws Road, Glasgow||308,022||450,000||
|Church - 60 Weaver Street, Glasgow||2,114,657||2,750,000||
|Church - 12 Casselbank Street, Edinburgh||305,353||350,000||
|Church - 52 Gorgie Road, Edinburgh||1,099,864||975,000||
|||||||
|||3,827,896||4,525,000||



The last external professional valuations of the Church premises were as follows: 

1120 Pollokshaws Road, Glasgow - Pinders in June 2021 

continued... 

Page 22 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **14. TANGIBLE FIXED ASSETS - continued** 

60 Weaver Street, Glasgow - Pinders in June 2024 12 Casselbank Street, Edinburgh - Pinders in July 2021 

52 Gorgie Street, Edinburgh - Pinders in May 2019 

The valuations listed above are inclusive of any relevant property improvements which are disclosed separately to freehold property. If freehold properties had not been revalued, they would have been included at historical cost of £3,827,896 (2023 - £3,827,896) with aggregate depreciation to date of £660,360 (2023 - £622,080). 

## **15. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||Shares in|
||group|
||undertakings|
||£|
|**MARKET VALUE**||
|At 1 January 2024 and 31 December 2024|1|
|**NET BOOK VALUE**||
|At 31 December 2024|1|
|At 31 December 2023|1|



The investment in group undertakings solely relate to a non-trading company. There were no investment assets outside the UK. 

## **16. INVESTMENT PROPERTY** 

|**FAIR VALUE**<br>At 1 January 2024<br>and 31 December 2024<br>**AMORTISATION**<br>At 1 January 2024<br>Eliminated on disposal<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023|£<br>9,707|
|---|---|
||-<br>9,707|
||9,707|
||-|
||9,707|



The ATM was disposed during in the year following the termination of the lease. 

continued... 

Page 23 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

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

|Trade debtors<br>Gift aid recoverable<br>Paypal<br>Stripe<br>Prepayments<br>**18.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Bank loans and overdrafts (see note 20)<br>Other loans (see note 20)<br>Trade creditors<br>Social security and other taxes<br>Pensions<br>Credit card control<br>Deferred income<br>Accrued expenses<br>An analysis of the movement in deferred income is detailed below:<br>**Deferred income**<br>Opening balance as at 1 January 2024<br>Arising in year<br>Release in year<br>Closing balance as at 31 December 2024|2024<br>£<br>91,944<br>13,543<br>90<br>3,123<br>6,253<br>114,953<br>2024<br>£<br>69,940<br>-<br>87,966<br>8,169<br>2,857<br>2,952<br>3,584<br>11,132<br>186,600|2023<br>£<br>26,067<br>7,423<br>2,432<br>1,895<br>1,817<br>39,634<br>2023<br>£<br>75,944<br>37,327<br>36,869<br>8,001<br>2,401<br>4,113<br>2,459<br>12,978<br>180,092|2023<br>£<br>26,067<br>7,423<br>2,432<br>1,895<br>1,817<br>39,634<br>2023<br>£<br>75,944<br>37,327<br>36,869<br>8,001<br>2,401<br>4,113<br>2,459<br>12,978<br>180,092|
|---|---|---|---|
|||||
||||**£**|
|||||
||||2,459|
||||3,584|
||||(2,459<br>)|
||||<br><br>3,584|
|||||



Deferred income represents amounts received in respect of hall lettings income for events and classes take place in 2025. 

continued... 

Page 24 



�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

|Bank loans (see note 20)<br>Other loans (see note 20)|2024<br>£<br>1,354,362<br>-<br>1,354,362|2023<br>£<br>524,504<br>874,146|
|---|---|---|
|||1,398,650|



## **20. LOANS** 

|An analysis of the maturity of loans is given below:<br>Amounts falling due within one year on demand:<br>Kingdom Bank loan<br>Clydesdale Bank loans<br>Loan - CAF Bank<br>Amounts falling between one and two years:<br>Kingdom Bank loan<br>Clydesdale Bank loans<br>Loan - CAF Bank<br>Amounts falling due between two and five years:<br>Kingdom Bank loan<br>Clydesdale Bank loans<br>Loan - CAF Bank<br>Amounts falling due in more than five years:<br>Repayable by instalments:<br>Kingdom Bank loan<br>Loan - CAF Bank|2024<br>£<br>10,952<br>58,988<br>-<br>69,940<br>33,225<br>48,149<br>-<br>81,374<br>142,071<br>18,401<br>-<br>160,472<br>1,112,516<br>-<br>1,112,516|2023<br>£<br>17,698<br>58,246<br>37,327|
|---|---|---|
|||113,271|
|||6,399<br>58,988<br>40,769|
|||106,156|
|||65,644<br>66,550<br>145,975|
|||278,169|
|||326,923<br>687,402<br>1,014,325|



The charity entered into a 30 year loan for £675,000 with Kingdom Bank in March 2008. Interest was charged at the base rate plus 2.75%. The loans have since been amended to an interest only facility for a period of 12 months from 1 September 2024 and interest is charged at 7.75% variable per annum. 

The charity entered into four 20 years loans which totalled £750,000 with Clydesdale Bank in September 2006. The loans have since been restated in settlement with Clydesdale Bank with three loans due to be repaid in  2026 and one loan due to be repaid in 2028. It was agreed as part of a settlement with the charity to restate the four loans as if they had been fixed interest rate loans for the first five years moving to variable interest rate loans after five years.  Interest is charged at the base rate plus 0.97%. 

The charity took out a loan for £1,165,000 with CAF Bank over 20 years in May 2017. Interest is charged at  the base rate plus 3.5%.The charity has concluded the refinance of existing CAF bank loan at the end of August 2024 and has entered into a 30 year loan for £900,000 with Kingdom Bank.The loan includes an interest only facility for a period of 12 month from 1 September 2024 and interest is charged at 6.2%. 

continued... 

Page 25 



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**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **21. SECURED DEBTS** 

The following secured debts are included within creditors: 

|Bank loans<br>Loan - CAF Bank<br>Kingdom Bank hold a standard security over the following properties:<br>- 52 Gorgie Road, Edinburgh<br>- 70 Cathedral Street, Glasgow.<br>Clydesdale Bank hold security over the following properties:<br>- 12 Casselbank Street, Edinburgh|2024<br>£<br>1,424,302<br>-<br>1,424,302|2023<br>£<br>600,448<br>911,473|
|---|---|---|
|||1,511,921|
||||



- 1120 Pollokshaws Road, Glasgow 

## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Fixed assets<br>Investments<br>Current assets<br>Current liabilities<br>Long term liabilities<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General Fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above ar<br>**Unrestricted funds**<br>General Fund<br>**TOTAL FUNDS**|Unrestricted<br>funds<br>£<br>4,397,245<br>1<br>176,602<br>(186,600)<br>(1,354,362)<br>3,032,886<br>e as follows:|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>At 1.1.24<br>£<br>3,105,717<br>3,105,717<br>Incoming<br>resources<br>£<br>1,210,013<br>1,210,013|2024<br>Total<br>funds<br>£<br>4,397,245<br>1<br>176,602<br>(186,600)<br>(1,354,362)<br>3,032,886<br>Net<br>movement<br>in funds<br>£<br>(72,831)<br>(72,831)<br>Resources<br>expended<br>£<br>(1,282,844)<br>(1,282,844)|2023<br>Total<br>funds<br>£<br>4,484,412<br>9,708<br>190,339<br>(180,092)<br>(1,398,650)<br>3,105,717<br>At<br>31.12.24<br>£<br>3,032,886<br>3,032,886<br>Movement<br>in funds<br>£<br>(72,831)<br>(72,831)|
|---|---|---|---|---|



## **23. MOVEMENT IN FUNDS** 

continued... 

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**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **23. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General Fund<br>**Restricted funds**<br>DC Glasgow Heating Project Fund<br>**TOTAL FUNDS**<br>Comparative net movement in funds, included in the above are as<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General Fund<br>1,050,074<br>**Restricted funds**<br>DC Glasgow Heating Project Fund<br>-<br>**TOTAL FUNDS**<br>1,050,074|At 1.1.23<br>£<br>2,702,370<br>3,723<br>2,706,093<br>follows:<br>Resources<br>expended<br>£<br>(1,200,417)<br>(3,723)<br>(1,204,140)|Net<br>movement<br>in funds<br>£<br>403,347<br>(3,723)<br>399,624<br>Gains and<br>losses<br>£<br>553,690<br>-<br>553,690|At<br>31.12.23<br>£<br>3,105,717<br>-<br>3,105,717<br>Movement<br>in funds<br>£<br>403,347<br>(3,723)<br>399,624|
|---|---|---|---|



## Unrestricted funds 

General Fund: represents the normal funds, income and running expenses of the charity. 

## Restricted funds 

Destiny Church Glasgow Heating Project Fund: represents a grant received for the purpose of upgrading the heating systems in a Glasgow Church building and the corresponding expenditure. 

## **24. EMPLOYEE BENEFIT OBLIGATIONS** 

The charity operates a defined contribution pension scheme. This pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £15,910 (2023 - £14,738). At the balance sheet date, the amount relating to pensions due within creditors was £2,857 (2023 - £2,401). 

continued... 

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0￿￿￿gn Envekfe ID.. CD765TcG374￿b4¢A74￿lEFo[￿EBAy
Cor thè Yoair End￿ 31 Doe@tDbor 2024
25.
2027and 2029 respecliiEty. The chan.ty con]llJitte(i to payins £48.518 (2023 - £1.426) ai the balance she
date.
26. RELATED PARTY DISCLOSURES
tknin8 the year. th¢ clwity had the follo￿)￿8 related party tr3nsactions'.
TnLStee
tinistri. fees.. £55.992 (2023 - £55.992)
At the baiallce sheet date. the charty 0￿ed￿ £6.380 (2023: £3.260) in relatioll to the
reimburseD]ellt of trai.el Lw5es p￿d for on belialt ot"DestinyNI￿lstrlC5. The reclwged to Destilly
mi￿"StrICS in the year.
In 2023. the ¢hatity re¢eii"ed a hoKhOrntium of £2.519 on behalf ot
another ¢hur¢h at Zuri¢lL the all￿U￿t was fidty repaid io A[bIr￿.
in res￿￿ of bis i'oluntay work
Susall 0￿.ell- Trnsiee
Ministy salary.. £32.554 (20?3 - £32.554)
Ministry pension.. £1.628 (2023 - £1.628)
The reDllmeratioD Io
. IcceiiEd a 5akny of £13.340 (2023 - £11.444 atld peDsion
£J-(I I
. ￿lfe of Roba* Owen receii'ed a salary of £1.297 and pension con1n￿tion of £tiil dwin8 the year
aiilecl_l l Detemb¢r 2024.
. Biisine*%
rec￿l￿d Sal￿ pa)rynents of £48.165 (2023 - £48.165) and
pensioll contributions of £l.886 (7023 - £1.886).
receil-ed a 5a]8ry of £17.146 {2023 - £17.146) atld pensio￿ contributions of
£672 (2023 - £672).
The total all￿U￿¢ of doDatiolls llmde by the TT[￿teS durillg the year M75 £47.618 (2023 - £38.819).
There wer¢ no TnLStees' expe1￿ paid for in th¢ year 31 D¢¢¢nkn 2024. Two Tn￿te¢,$ expenses in
respect of tral'el costs wtte re1mbUts￿ for the year 31 Decenther ?023. The total expexjses rein)bursed itt th¢
year £3.260. the year. dxe cljariry proiided non-cxsh cards io three of its TnLsiees as a ￿kets of
appreciation for tbeir i"ohmtary seThice.The total I￿Ue of the 8ift eards anujullted to £1.700.
All atry Trustees receii"e no income or reJnun￿On for Tru5tee5. alld haNe no say or iiipi]t iato
salaries for prof￿s1o￿al seThices re￿de￿I to the cbarity. Any remjmeratioll is set by all independent salary
reiieTh' board. Any consultallcy ser%ices re￿Iered ate agre￿1 on a PrOfe￿"Onal bases by the board and tlLeir
adiisors.
Th¢ charitie5 Shared one con]nN)n Tntstee dwiDg the year. ID athjitio￿ a business of the Charity was a
Tntstee and a b￿SInesS nwjaget ofDestiny Ministries. The follo￿ting transactions took place dwing the year:
ContrAblltion recei￿ed for nh)rt8a8e ittlerest costs.. £54.000 (2023- £47.(XM))
Salary eontributions re£eii"ed.. £44.786 (2023- £41226)
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Continued...

�������������������� ���  � ���� � ������  � � ����� ��  � 

**Destiny Church Trust** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **26. RELATED PARTY DISCLOSURES - continued** 

Reimbursement received for expenses made by the charity: £5,755 (2023: £nil) Recharge income in respect of hall lettings; £6,545 (2023: £nil) Recharge expenses in respect of Andrew's business mileage made by DCT: £6,380 (2023: £nil) 

Tithe payment paid: £110,909 (2023 - £93,210) Indian Orphanage appeal: £nil (2023 - £4,200) Contributions paid for other costs: £57,351(2023 - £40,157) 

At the balance sheet date, there is a balance of £75,548 (2023: £3,000) due by Destiny Ministries. The charity owed Destiny Ministries £57,828 (2023 - £20,650) in respect of tithes and other costs at the balance sheet date. 

Destiny Community Enterprises - SC045696 

The charities shared one common Trustee during the year. 

The charity received a £34,500 (2023 - £20,900) contribution towards Community Grocery store from Destiny Community Enterprises in the year. 

Jesus Alive Gospel Outreach - SC285658 

The charities shared one common Trustee during the year. 

The charity paid monthly grants of £1,000 in the year, giving a total of £12,000 (2023 - £12,000) paid to Jesus Alive Gospel Outreach. 

Destiny Church London - 1176623 

The charities shared one common Trustee during the year. The following transactions took place during the year: 

Donations received: £27,180 (2023: £2,500) 

## **27. APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES** 

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements. 

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