SUMMIT CHURCH scorrisH CHARITY NUMBER SC033567 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 s u tv1 M l T C H U R C P4 OSCF Registered Charity SCO33567 Scottish Charity Regulator www.oscr.org.uk Peter I-Iall Fin2nce & Accounting CertIfd Pubb,.A¢LvuAlaAI LTK 102277114 rllfiqtt
ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31StMARCH 2025 CONTENTS Trustees, Annual Report....................................................................................... IndeFendent Examine¢s Report........................................ ... Statement of Receipts Payments & Statement of Balanos.. Notes, and other details......... .10-11
SUMMIT CHURCH TRUSTEES. ANNUAL REPORT ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Scottish Chwity Number SC033567 CURRENT TRUSTEES The trustees who trId offic8 during ihe peficKI under review were: The trustees present their rèport and accounts fof th8 y6ar &Thed 31 sl March 2025. This report is prepared n accordance with the constrtution and Ihe recornmendations of the St8t6ment of Recomrnendj Practice - Acc£xJnting and Reportiro by Charrties and complies with applicabb law. RECRUITMENT ANDAPPOINTMENT OF TrUSTEES The rnagement of the charity is t responsibility IA the trusiees wlh) are elected and Co-opted undw the temis of tre COnstrtIon. GOVERNING DOCUMENT The charity, which is a reco3nised charity in Scotland, is operatad under the rules d its constitution dated 19 August 2002. ACTIVITIES AND ACHIEVEMENTS The past year has been a y8ar of both change and progress Notably w8 cLritinu8d our fund raising for our building project and were able to get the work completed in July and August of 2024. This increased our capacity by an extra 50% making fcK a more CLYnfortable worship expertence and allowng us rcom fcff gro%h, as well as improvirrfJ our ability to use the thurth as a comrnunity hLt) where both thurch & non<hurch people can feel welcome. Although it was a considerable financial investment it has changed the dYnarns of our church, and we are already seeng the benefits. Ultimatety, the txjilding is just a tool for nelplng the people Df Sprlngbum and GiasgL praaically & reaChg them with Ihe gcA)d news of Jesus Christ and we have seen growth in many of our groups especially OLr Community Calé which was restricted by the small space availab due to ptItion walls. bye have seen attendances almost double al the Cafè each week. We were also able to host a Youth Alpha course toward the end of 2024 which attracted 20-30 young people each week induding many from outsNJe our church. We also Contin to have B8sic English dasses Tuasd8y eV1n9S arKI rnw also Tfxjrsday mornings along$id8 th8 Café whith have beon a sourcA of 8raJurffj8m8nt & comrnunty to many irrespective of their faith or rets'gK)n. Church lrfe has continued to thrive, and Sunday momings are now busier than evar with an average of around 130 adu5 & kids jcining cjur worship service each Sunday m(xning, the environment is now busy but not overnvhelmingly cramFed as it was Previously. This has resutted in several new families joining OLff thurch as well as some leaving due to moving ryJt of the Springbum area, but we celebrate the diversity in age & cultures that we have in Summit Church. IAÈ have also increasinyy Seen mor6 and more volunteers in the Glurch, which is very hlthy, arvj more people are beginning to t&e ovmersttip rather than just attend. September 2024 was also Nvhen we officially changed name from Sprrtgbum Assemblies of God Church to Summit Churth which is symbolic of vtsre we 8re situated in city of Glasgow.
Springbum is the highost point in north of tha city of Glasgow, arKI we beliave that not only physically but also spiritually God has pogticn us to be a 'city on a hill which cannot be hidd&n' _ Mstthew 5..14 and so we are aimir¥J with God's help to be exactly that. are excited for the rpxt year too and all that is ahead of us. TRUSTEEE REMUNERATION AND EXPENSES eC8EvI remuneration of 36,710 (£21,319 in 2023) during the year for his serVIS to Ihe cnarty. He was also paid £914 tovftrds his Auto Enrolm8nt Pension. FINANCE REPORT The financial year erKled 31 ST March 2025 has Lpen a 5wJnlfint year for Assemblies of God, Palermo Street, marked by both substantial investment in Ihe Church's fa¢ilities and continued farthful givng frcffl the ¢cfiegatIOn aThJ supporters. Income Tot41 inccme fcr the year anount8d to £112,585. r8presentirvJ a consid8rabl8 incr8as8 from £82,198 in the wevious year. Tr wimary sources of inCLe included.. Offerings.. £54,444 (2024.. £49.703) Grft Aid receNed.' £l4,469I224.' £3,233) Grant FuThJing: £22,)0 (2024: £18,4CO) Building Fund dOnatis. £12,835 (2024". £2,78J) This increase reflects both a steady pattem of congregation81 gNing and %Jccessful efforts in obt8ining external grant S)Ft to furKI specific wojects. nditu Tot81 expenditLre for tha year was £170,819, more than double the prior year's total of £74,130. Thks rgfiocts a period of capital investrnent and mintrY expansion, includng: Building Expgnse$.' £96,976 (2024.. £2.437), r8fi8CtirvJ significart rerK)v81ion and irfraslrucbJr8 inv8stment. Sal8ri8s Wages.. £4S,424 {2024'. £36.588), including statfing for rntnisty, youih. arKI operations. Missionary Offerings: £4,083 Hospitality and 0reach.. £2.493 Insance, Metha, Software, Subscriptk?ns, arKI MIn. £10.843 cornbinod This level of expenditure alnS with the CtrHJrch's strategic aim to expand ts capacbty and (x)mmunty outreach, particularly in its facilits'es. Net Movement Fun The financial year cCluded with a net deficit of £58,233, refiecting planned sFendTng on Ixjilding-relaled prujects. The previous year h&J entsd with a surplus of £8,. RESERVES As 8t 31 st Mardi 2025. the Church held unrestriced reserves of £95,753, n compwison to £137,835 at the end of Ihe previous financial year. The decfea86 refiecis a planned deficrt of £58.233, primarily duè to gnrficAnI invastment in building works and mnistry-relat8d activiti88. Th8 Church also rètains a Prop8rty Revaluatn Rowve 01 £16.151, unchanged from previous year, The Trustees coniinuo to monitor the Churth's reserves in line with its c¥p8rati)nal nJs future pkgnnng Despite the reduCtn in unrestrided funds durng the year, tl* Church remains in a scjjnd financial positicn, with fflent resowces to meet al rrent commitment5 and orooing operational costs.
The reseNes provide a vital buff8r against unforeseen costs and support future strategic developments. The Churth is fully insured, and the property ts well maintained. The Trust88S are confident ttrpt the current lev81 of reserves is adequate io sustain the Church's work mission, including potentkgl future repairs, ministry expansion, ar CAJnrnunity grvJagement. The reseNes policy is reviewed annually to ensure that an approFxiat8 level of unrestrded funds is maintained, nsiderng both the d8y-to4ay rnIng costs and any d8svJnated or future capital projects. RISK ASSESSMENT The trustees have c(nsKJered Ihg major risks faced by the Church and have reviewed the ocedures in pla designed to manage these ri3k3. In particular. poliGies and 0¢¢thIre8 are in place for the protectKsn of children and vuIrrab1e adults. Approved by the Trustees and signad on th•ir behalf: St8phen Keith Robbins Pastor and Trustee Date: 10 a02S
INDEPENDEPtr EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 TO THE TRUSTEES OF "SUMMIT CHURCH" Scottish Registered Charity SC033567 I report on the accounts of the charity for the year end 3 1ST March 2025 which are set out on pages 5 t(1 7. nsibilitie The charity's truslees are responsible for the preparation of the acwunts in aLwrdance with the tcrn)s of th¢ Charities and Truslc¢ Invcstm¢nl (Scotland) 2(X)S Act and th¢ Charities Accounts (Scotland) Regulations 2tK)6. The charity trustc¢s consider that the audit rcquiremcnt of Regulation l O( l ) (a) to (c) of th¢ Accounts Regul105 d$ not 4)pty. It is my [nSibIlity to nIn¢ the accounts as requira under section 44(l) (G) of th¢ Act and to stal¢ wbcthw particular nutt¥Ys hav¢ to my att¢ntion. Basis of audit o ini( My exniDatI( is Carri out in a¢Ldance with Regulation I l of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the xcounting reLx)rds kept by the charity and a conwarison of the accounts presented with those records. It also includes consideralion of any unusual items or disclosures in the accounts and seeks explanats'ons from the trustees concerning any such matters. The procedures und¢rtaken do ot provide all the ei'idence that would be rquir in an auth't an(L Lx)ns¢quently, I do not express an autht opinion on the accoun Ind endeni Examiner's statement In the COUTS¢ of nry examinatio ao matter has come to my attention which gives me re&8onable cause to believe that in any matetial respect the Tequiremenls: to keep acwunting records in acLI)rdance with s¢ction 44(1) (a) of the 2005 Act and R¢gulation 4 of the 2006 AGcounts Regulation& and to prepare accounts which &cord with the accounting rOrdS and comply with Regulation 9 of the 2(K16 Acc4)unts Regulations have not been meL to Whic in my opinion. attention should be drawn in order to enable a proper underthding of the accounts to be reache<L rirt 1 r I¥iUnLe Ot AvUl1111]g Solutions of Tillicoulty, Clackntsnnanshire. FK13 6DR Certlfied Publlc Accountant UK 10227712A
SUMMIT CHURCH RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrictsd Totsl funds funds funds 2025 2024 Further Detsils Income & endowments from: Donations & Legacies Charitable Activities Other Trading Activities Investments Other 98,116 98,116 78,964 14,469 14,469 3.234 Totsl 112,585 112,585 82,198 Expendlture on: Raising Funds Charitable Activities Other 73,083 97,736 73,083 73,167 97.736 963 Total 170,819 170,819 74,130"- Net Receiptsl(payments) Transfers between funds (58.2331 (58,233) 8,068 Gains on revaluation of Fixed Assel 16.151 Reconciliation of funds Total funds bought forward Total funds carried fOard 153,986 95,753 153,986 129,767 95.753 163,986 Unrestrlcted Restrlcted fvnds funds Prior Period Statement of Balances Total Cash & Bank balances at stsrt of the year Surplusl{deficit) shown Property Revaluation Reserve Cash & Bank balances at end of the year 153,986 (58,233) 153,986 129,767 (58,233) 8,068 16,151 95,753 153,986 95,753
SUMMIT CHURCH RECEIPTS AND PAYMENTS detsiled fofthe year 318t March 2025 Recelpts 2025 2024 Note Building Fund Gift Aid received Grant Funding Miscellaneous Missionary Offerings Offerings Property Income Youth Income 12,835 14,469 22,500 2.780 3,233 18,400 133 700 49,703 6,383 866 270 6,737 1,330 Total Receipts 112,585 82.198 Payments Assembly of God Expenses Building Expenses Church Supplies Communications conferen & Travel Donations Heat & Light Hospitality Insurance Kids Media Missionary Offerings Office Other Expenses Outreach Repairs & Renewals Repairs & Renewals- Flat Salaries & Wages Software Speakers Expenses Subscriptions & Fees Sundry Youth Youth Camp Youth Pastor 1,300 96,976 1,560 2,437 1,757 557 180 364 2,949 .4,211 1,424 1,750 3,046 1,944 1,892 570 2,960 4,083 1,045 916 549 1,471 760 46,424 3.428 5,970 2,914 963 36.588 429 2,664 2,792 487 1,852 494 5,242 Totsl Payments 170,819 74.130 Surplus Receipts (Payments) (58,233) 8,068
SUMMIT CHURCH BalanG• She•t FOR THE YEAR ENDED 31 MARCH 2024 2025 2024 Note FIX Assets Investment Propety 85,000 85,0 CurrentAssets Bank Cash on Hand Net Current Assets 10.753 68.986 10.753 68,986 Net Assets 95,753 153,986 Reserves General Funds Net Receipts Property Revaluation Reserve 137.835 (58,233) 16,151 129,767 8.068 16,151 Total Funds of th• Charlty 95,753 163,986 All funds are unrestrict&J Note: The chanty owns the church at 20 Palem Street The value of this is not reajily ascertainable, however, it is valued at £1,024.999 for insurance purposes.
NOTES TO BALANCE SHEET AS AT 31 MARCH 2024 1. Accounting policies 1.1 Basis of preparation of financial statsments The financial statements have been prepared under the historical cost convention, and under UK GAAP on a Receipts & Payments basis. The following principle accounting policies have been applied 1.2 Tangible fixed assets Investment property Investment property is initially recorded at cost which includes expenditure attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the trustees. The carrying value of this property is reviewed annually and adjusted to reflect Any changes in the market value Church at 20 Palermo Street The trustees consider the church at 20 Palermo Street to be an asset for which the value is not readily ascertainable. it has not been induded in the balance sheet, however rt has been valued at £685,824 for insurance purposes. YOU are welcome tojoin us fo.r service llam today. Palermo Street. Glasgow, G214SX 2. Notss to the flnancial ststements 1. Flxed assets The Church flat at 4 211 Barmulloch Road, Glasgow G214YF was valued at £85,000 by "Rightmove.. The Trustees have no intention to sell and therefore accepl this valuation. This increase in value from £68,849 was reflected in the Property Revaluation Reserve in the 2024 accounts. SUMMIT CHURCH 10
FOR THEYEAR ENDED 31 MARCH 2025 8 lj M M l T 20 Palern Street, Glasgow G214SX Media". FaGebook- Summit Church X (fomierfy "Twitterf,): @SpringbumA Web: summitchurch.o).uk During the financial year, the Church fOrllY changed its narne from 'Assemblie8 of God. Paletmo Street" to "Summit ChurGh" marking a fresh direction and the beginning of an exatsng new chapter in its ministry. Summrt Church is a contemporary. vibrant Jnitv nf f8ith spryinn thp r•ople of Springbum, Glasgc>N, and teyoThl. Led by P)e Churth Teflects the rich diversity of its local area and offers a welcorTring environmont through weekly worship services, midweek Bible studies, and a r8nge of other events aimed at spiritual growth, fellowshlp, arKI community engagement.