_Scottish Charity No SCO22683_ ## **Lochgilphead Free Church of Scotland** **Trustees’ Report and Financial Statements For the year ended 31 December 2024** ## **Lochgilphead Free Church of Scotland** ## **Contents of the Financial Statements For the year ended 31 December 2024** ||Page| |---|---| |Church information|2| |Report of the Trustees|3-4| |Report of the Independent Examiner|5| |Receipts and Payments Account|6| |Statement of Balances|7| |Notes to the Financial Statements|8| 1 ## **Lochgilphead Free Church of Scotland** ## **Church Information For the year ended 31 December 2024** ## **Trustees** A list of Congregational Trustees during 2024 are listed on page 5 of the Trustees’ Report ## **Addresses** Lochnell St Lochgilphead Argyll PA31 8JN ## **Bankers** Bank of Scotland Poltalloch St Lochgilphead PA31 8LW ## **Independent Examiner** Institute of Chartered Accountants of Scotland Mann Judd Gordon Ltd Chartered Accountants 26 Lewis Street Stornoway Isle of Lewis HS1 2JF 2 ## **Lochgilphead Free Church of Scotland** ## **Report of the Trustees For the year ended 31[st] December 2024** The Trustees are pleased to present their report together with the financial statements of the church for the year ended 31[st] December 2024. ## **Status of Charity and Governing Document** Lochgilphead Free Church of Scotland is established by Constitution. It is a registered Scottish Charity (No SCO22683). ## **Aims and Affiliation** Lochgilphead Free Church is a congregation of the national Free Church of Scotland working towards the common aims set out in her constitution. It is a Presbyterian church adhering in its worship to the position of the Church of Scotland at the Reformation. The Free Church of Scotland has an explanatory document which explains the origins of the Church and which gives the historical background to the Church coming into being in 1843 and lists documents in which is embodied the constitution of the Church. This document is available on request from the Free Church of Scotland, 15 North Bank St, The Mound, Edinburgh. The Free Church of Scotland currently has around 100 congregations in Scotland, as well as one in London and four in North America and sister churches founded by mission work in India, Peru and South Africa. The church also has a seminary in Edinburgh for the training of ministers and other Christian workers and sustains an extensive missionary programme relative to the size of the Church. The principal activity of the Church is the conduct of public worship and associated matters in the context of local congregations. Dating from 1843 but with its roots in the Reformation, it owes its distinctive title to its historical struggle to remain “free” from state interference in its internal affairs. It has close and active relations with many other Reformed churches of Jesus Christ throughout the world and stands firmly in the tradition which accepts the Bible in its entirety as the Word of God and therefore derives its forms of teaching, worship, ministry and government form it. The main emphasis of our worship is the preaching of the gospel- the good news of a free and sovereign salvation through Jesus Christ alone. The congregation is within the Free Presbytery of Glasgow and Argyll, and, from 1st October 2024, is linked with Tarbert Free Church. The linked charge is authorised by the church to share a minister under a Five-Year Reviewable Tenure agreement The church buildings are the property of the congregation and are held under the Church’s model trust deed. ## **Trustees and Office Bearers** Since the Church is Presbyterian in government, its day-to-day running is undertaken by the elders (the Kirk Session) and the Finance Committee. The elders are members of the Finance Committee. The Finance Committee’s specific function relates to the material and financial business of the congregation, whereas the elders are charged with the general and spiritual oversight of the congregation. Under Charity Law, the members of the Finance Committee are deemed to be the Trustees of the congregation as those with responsibility for day-to-day management and control. This is distinct from the role of Property Trustees who are responsible only for holding property in trust. 3 Lochgilphead Free Church of Scotland Report of the Trustees For the year ended 31 December 2024 Finance C.ommit¢et The metnbers ol.the Finance commiti￿ {Ihe TnBtee5) H'ho senel dunngthe irar ￿'Cre as fdloThs." Appointment ofC'h*nty 'l'ru5ttts The FJnan¢¢ Cornmiiiee 15 elKI￿ h (he wmmunll￿I member5 of the CM) Ihe recCmn￿th'on of th¢ Ik S¢¥¥JvJi 11) ieriiL% of ¢ht Cong￿#4￿0￿.$ co￿lI[￿l0n hdd office for n tsre di8ible for re-elothion Prior to thctr apyoiniment, new Tru519¢s ￿1￿1 hgi¢ lh¢ Church for $on* lime in i.gri0￿ roleE 8Thd are ram111￿ with the Churth's %'8lues Ind li airt* ObJ￿1va% &4 well 18 115 d￿￿-t￿daY OW¥iions Resiilts for the yeAI' The lo1￿ sutplus for ihe vear £24.26Q (2023.. £23,713 Afi￿ a¢cotmimg for rnTr'tm￿is in inirtsim&ts hdiL at Ihe i'¢or end ihe chwth held funds amounling to L412,35912023". L403.688) cor6i5ting of the follo￿Ing funds.. L'nre5tii=ted Gtntral Fund L'tvesffi=ttd Jesi£nartd Fabnc Fuod Rtstsjcted Cwial runds !0.gj 1:6.iS8 11 is the intention of the con8re8dioD to rya￿￿1e ihe thwch builthng w.￿ch is ¢Wr?￿l>. but &8 the ongr¢g41ion yrows nuMenc￿l}. a lar8¢r Spa￿ for ii'orship Is TQ4wreJ. Resttl¢¢ed Fuiid5 Dunng thc I'tar cndcd 3 l D(wnb¢r 2)19 the Torbth me￿• M•s sold 50% of the procw& w¢r¢ ￿10¢11¢d io Loth8Jlph¥ttd Free Church. Dvnn¥ ihe N'ellr. the T￿￿tets rÉ%died IhAt Ihe amwil th￿ had bea) rais¢d from the sale of ihe Loth8ilphead ma￿￿e I*12(),(￿61. iogeihef wilh ihe balance of the Desiww•J Fabric fund * 31 2023 1£2(1.1)37} be transferred io Ihe Building Fwnd ihat 15 T45lncted 10 reiThTr'eslrneni in apitsi pur¢h&s¢s Ddllils of Ihe ir￿fers of r￿dS are 5hoiin in Ihe Sialen￿r ofBJlatK¢5 (￿ P*8e 7 ofthe finan￿￿ slalemujts lrfJ¢bgilphcad Free Church of Scotland Report tsflkn Indepe*dent to thE >¢xett&d 31. Dec¢mlxr X124. J onth¢ ￿￿J￿1$ ofth¢ forthv pU￿d e¥&d31" DeL¥miv ￿241￿ich •JE *t thl pws fA. Rt¥teli¥e relpowibilitieg of Trwteu nd ￿￿kner The ¢Tr￿ltY,5 Trust¢45 ￿ T¢Jp¢Nuibk for tk ot accrxknx with tenns of th¢ Clwities alld Tru&ke Invettmem (S¢oil*nd) Aa 21x15 the Chu1￿ Accwlls lkn*l*ndJ Re8￿￿(￿ (8$ amendedj. The tharily Trust¢e5 c(widrT w]il rW4TrM￿ of R¢8ukni 10(11 (*)- (¢1 of th Ac4xuIts R¢8yl•tiffj 410¢$ AOI •ppty. ￿ L5 my re5r￿nsIbL1Ity w exominE thE acC(￿ts se¢tw)n 44(1) {È) of ly exgJMin*(on is ¢wrtd Ixrt Ao a¢￿d￿ with Reyl*im I I Ilthe (Jwilies Ar£￿￿ts IScLrtlwvfj R¢gvl*ioT rnFwi>m of pre*oled with IF#)* le￿rds. It also i￿1th ￿￿LS1￿[Stu#1 of *Jy items uThkrtakcn do nol ￿0Vil￿ a]1 cY¥JeTLZ thllt br rThwirts1 ill gn 8nd cowhwrt]y L O) not xlit opthlon onthe viewyYtAbyll* Intr* cMrye of m**r l*$ ¢c4tt tomygii¢nii(*i.' rectsds in 8ctttd￿ with 5¢dion 4411}(a) ofthc 2005 Aa *bd R¢#ulth 4 offf* ZIM)6 A¢¢fWm ReBuladons {as ￿tr￿d} And to PttP4ff a¢£xMwds w￿b with 8¢¢ou￿1￿ recrrfth CtyDFIy Tmth Regujalyjn 8 notbeeL rneL £¢ 2. to Whic￿ ￿ my Opinio￿ *tt•rtw)tt should ie to eYAb]e a ￿￿Je￿dIng of tt* tt> ## Lochgilphead Free Church of Scotland ## Receipts and Payments Accounts For the year ended 31 December 2024 |**Receipts**
Offerings
Donations
Tax recovered on GiftAid
Interest
Dividends received
**Total Receipts**
**Payments**
**_Payments for charitable activities_**
Minister's expenses
Pulpit supply costs
Presbytery Fees
Ministry levy
Levies to Free Church of Scotland
Property repairs & maintenance
Electricity
Insurance
Communications
Grounds maintenance
Council tax - manse
Professional fees
GiftAid fee
Publications
Teaching materials
Licence fees
Bank charges
Charitable donations made
Fund raising costs
**Total Payments**
**Surplus for the year**
Transfers
**Net movement in funds after**
**transfers**|**Unrestricted Funds**
**General**
**Designated**
**£**
**£**
25,423
0
1,334
0
5,898
0
0
0
0
0
**32,655**
**0**|**Unrestricted Funds**
**General**
**Designated**
**£**
**£**
25,423
0
1,334
0
5,898
0
0
0
0
0
**32,655**
**0**|**Restricted**|**funds**
**Manse**
£
0
0
0
5,056
0
**5,056**|**Total**
**2024**
**£**
**25,423**
**7,969**
**6,398**
**9,880**
**0**
**49,670**|Total
2023
£
17,425
34,478
6,826
6,611
2,738| |---|---|---|---|---|---|---| ||**General**
**£**
25,423
1,334
5,898
0
0
**32,655**||**Building**
**£**
0
6,635
500
4,824
0
**11,959**|||| |||||||**68,078**| ||1,545
510
385
16,263
0
263
1,035
1,597
610
0
745
300
138
91
53
475
0
0
0
**24,010**|0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
**0**|0
0
0
0
0
200
0
0
0
0
0
1,200
0
0
0
0
0
0
0
**1,400**|0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
**0**|**1,545**
**510**
**385**
**16,263**
**0**
**463**
**1,035**
**1,597**
**610**
**0**
**745**
**1,500**
**138**
**91**
**53**
**475**
**0**
**0**
**0**
**25,410**|1,010
0
212
15,613
1,440
4,664
1,585
1,489
629
210
847
15,281
101
166
36
216
17
705
144| |||||||**44,365**| ||**8,645**
0
**8,645**|**0**
0
**0**|**10,559**
0
**10,559**|**5,056**
0
**5,056**|**24,260**
**0**
**24,260**|**23,713**
0
**23,713**| 6 Lochgilphead Free Church of Scotland Statement of Balances As ai 31 Dcccmi 2024 Unrutrided Funds Gener Design•trd Restricted fvhds Building Manse Totsl 2024 Tota] 2023 Notes B3nk & Cash in h¥nd Opcnlllg b&lancc Sutplus lor the )rar Trwisl¢i's LI(￿1n8 balance liU.46i ¥.(Ai 112V.6U6) I.IL37 126.3¥¥ 4.050 ZY6WYI) 2436 273,177 23.713 Ilijjy 1411 643 151,202 120.Oi7) 131,444 321.150 296.8YU RepreJe*tsdhy.' Bank a¢¢ounts C￿h hcld by Fne Church o(Scollartd 3&504 25.773 64,277 49.89C) 1?4 4!9 ISI.202 131,414 131,444 2S6J73 321.150 24(1,994 Inwiim*nti held by Frte Church of Scotland Op¢nJnb) balancc 1(&7 IiNG,798 14.411 105,113 1.685 Cla%lng ￿1￿¢¢ 121.209 100.798 Tolal of mometgry ttssetj held 159.713 ISI,202 131.444 442.359 403.688 Statement ol Asxts held for (harlt*ble Purpu￿S '. Church buildin8s 250,(4J 150.00(J st￿eMent of IIAbilitles ai JI Dcctmbtr 2024 Iliioiccs duc for pa}muJt roi cd bi tlic Tiust¢cs on ZDZS Jnd si rnKd cli th&ll bclialt bk the undcTnoicd Lochgilphead Free Church of Scotland ## Notes to the Accounts For the year ended 31 December 2024 ## **1. Accounting policies** ## _**Accounting Convention**_ The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Statement of Recommended Practice – Accounting & Reporting by Charities (SORP 2005) issued in March 2015 and the Charities Accounts (Scotland) Regulations 2006 (as amended). ## _**Basis of financial statements**_ The financial statements have been prepared on a receipts and payments basis. ## _**Investments**_ As the accounts are prepared on a receipts and payments basis, the investments are included at cost. Market Value of the investments is disclosed within the notes to the accounts. ## _**Fixed assets**_ A statement of the assets held is shown in the notes to the accounts. No depreciation has been applied as depreciation is a non-cash item and therefore should not be included in the receipts and payments account. ## _**Statement of Financial Activities**_ For the purpose of the Receipts and Payments account as shown on page 8, funds are defined as follows: **Unrestricted funds** comprise grants and other income received for the objects of the church without further specified purpose and are available as general funds. **Designated funds** represent unrestricted funds which have been earmarked by the Trustees for particular purposes. **Restricted funds** comprise income which has been received for the objects of the church and specified for a restricted purpose within these objects by the donor. ## **2. Tangible fixed assets** The estimated value of the church and adjacent hall are £150,000 and £100,000, respectively. |**3. Investments**
Share pool units held with Free Church of Scotland:
Value at beginning of year
Movement in year
**Value at end of the year**
Number of units held:|**Total**
**2024**
**£**
106,798
14,411
**121,209**
21,064.76|Total
2023
£
105,113
1,685| |---|---|---| |||**106,798**| |||21,064.76| ## **4. Related party transactions** During the year Trustees received payments for reimbursement of expenses totalling £2,805 as follows: was reimbursed expenses including travel costs, council tax and church maintenance totalling £2,805 8