Scottiyh C'harity No.,SC.' 038119 Fortrose Free Church of Scotland Trustees, Report and Financial Statements Year Ended 31 December 2024
Fortrose Free Church of Scotland Contents of the Trustees, Report and Financial Statements for ihe year ended 31 December 2024 Page Church Information Report of the Trustees Rcw)rt of the Independent Examiner Receipts and Payments AccouDt Statement of Balances Notes to the Financial Statements 8-10
Fortrose Free Church of Scotland Church InformatRon Trnstee$ at 31 Dember 2024 Contset addr£ss Frec Chllh ot Scotland 5 ChurLh Stre¢1 Fortrose IVIO 8Tr. 013816?1404 Bankers BBnk of ScotlBnd InTrerness C".ity ?_6 Eastgale Inverncss IV2 3NA SolAcitors Blackadders LLP l O Buclid L T¢scent Dundcc DDI IAG Inde ndent Eiaminer Mann 26 Lei¥is StreeT Stornoway 18lc of l.cwis HSI 2JF on Pa8e I
Fortrose Free Church of Scotland Report of the Trustees Th¢ TnL8tees ure pleased to PTcscnt thcir rcport togcthcr with the financial statcments of the church for thc year ended .1 I r)ecernbeT 20?4. Status of Charity 2nd Cvo*ernillg Dotllment Fortrose Free Church of Scotland is estRblished by Ci)nstitution. Tiie cliur¢h is a S¢otti8h C.harih' INO. SC 038119). Aims aDd Affiliatio Fortrosc Frcc Church of Scotland is a con_orcgatiOD of thc Frcc Church of Scotland working iowards th¢ Coll9 aims set out below. It is a Presbvterian church adhering itt ils H'orship and d1r1C io thc position of thc C";hurch of Scotland at thc [Orall0. "Ibc Ftec Q".hurcRi of Scotland has att cylanatory d(KUllkCllt Iiich explains thc orioins of thc Churcli and which ?ivcs the historical background to the Church coming into being in 1843 and lits) documents in i%,hich is emTJ)died the n$tltUtloll of thc Church. Thc docum¢llt is avatlablc OD rcqu¢st from th¢ Fre¢ Church of scotlan I S Nortkl J3ank St.. IIK MouD& LdinburJL EIII 2LS. The l.'ree Church of Scotland currently has over I congregations in Scotlan(L as well as OTJe in [ndOn d four in North Americ4 and sister Churnhes founded b)1 mission ,rk in Indi4 P¢ru and South Afric4L The c.hurch also has a senaTr in Edinburgb for the lrnining of n)inislcrs and other Cknrtian i¥orkers and ustains an e.xtensive missionaTr progrdmme relatie to the siie ofthe church. 'I'he principal activit. of the Church is ihe conduct ofpublic woTrhip and associated matters in the ¢ontexi of I1 congregations. Dating from 1841 but its roots in the Reforniation, the Free Church of Scotland 0.e5 its diStincti.e title to it£ historical struggle to remain 'free' from state interference in lis internal affairs. It has close and acti&'e rellliions with many other Reforn]ed churches of Jesus Christ throughout the world and stands finnlK' in the tradition which accepts the Rible in its entirety. as the Word of God and. therefore: derives its forms of teaching-. worship, ministTr' and government from it. The main emphasis of our worship is the preaching of the gospel_ the oood neivs of 8 frce and soi'ereiim salNation through J&Fus Chrt5talone. The congregation is authorised by the Church to have a minister paid from c£ntral funds of the Church. The church building and the minister's manse are the proiw of the congregation and are held under the L'.hurch's modcl trust dccd. Trustees aod olie Bearer5 The congr¢oation is goi'erned and administered bv elected office IarerS (all volunteers) and its ministcr. Thc Kirk Sc5bion, bcing thc ministcr and clcctcd eld¢t& ha5 r¢sponsibility' for spiritual oversight. while th¢ Deacons. CourL composed of KiTk Session MeM[S plus elected deacons, oversees financial and propert), matters. ljnder C.harity" Law. the Deaeons. Court Mre deemed to be the trus1ees of the congregation as those with respimsibiliti, for day to dav management and control. Thi% is dislinct fri)m the role of proF¢ris' (congregational) trttee$ who are reswn5ible only for holding pro1, in tnL The Deacnn5' C Yho seTred during ihe li'ere &$ follows. All served throughout the ycar. Jn additio deacon of the con2rcqLtion: ser¥ed until the date of his passin¥ on 3rd D¢cember ?0?4. ,If2nist£r .'Ider.¥ Deacons ContsregaÉiollal Trnstees: For holding prop¢rN': Pagc 2
Fortrose Free Church of Scotland Report of the Trustees Appointment OrTnteeS The Kirk Session exercises its discretion in d¢t¢rniining the most appropriale method of electing new Tru.qtees (F.Iders and Deacons). Anj election process must involve the communicant Ellembership of the con(Jregation. There is no fixed terni for Trusteeship. Prior to their appointmenL new Trustees would have served the church for some time in various roles and would be familiar with the church's values, its aims and objectives as well as its day-t<thY op¢rntions. As part of their induction programme, new Trustees are required to understsnd their sratutory responsibiliii¢S os well as their responsibility as elder or d¢a¢on. Achievements and Perfornian¢e During the year. the church met regularty for worship in the church building in Chh Street. Throughout the year it carried out various activities in putsuit of th¢ above stated aims. Weekly events through a typical week included Cafe Blether. Women's Bible Studv and the mId'eek prdyer meetina The congregation continued its commitment to support the National Free Church of Scotland both spiritually and financially. Along thcsc lincs thc congregation sUPPOrt5 the national Frcc Church"s vision of 'A Healthy G05pcI church in every community in Scotland,. The new church building continued to prove to be a helpful asset through the year. not only for the ¢ongregation but also for various organizations in the cojnmunity. Additional appeals were made during the y¢ar resulting in donations totalling over £3,000 being made to.. Damaris Elouse Free Church Camps African Inland Church MissioT) Awation Fellowship Financial review The incotne to the general fund has increased over 2023, with a marked increase in giving through gift aid and much greater income arising from rental of the church premises to outside agencies. The increasc in income is reflcclcd in an incr¢a5c in thc pa)Incnts made lo the central funds of the church, most other Costs remaining consistent with the previous year. In 20?4 there w&s an excess of receipts over paJTnents of £2:400, increasing unrestricted reseryes to £6.964 which is just slightly over OTke month's normal expendinwe. Remarkable progress has again been made in repaying the loans taken out to finance thc neiv church building of ivhich full use is now being mad¢. Capital pa)llents tt)lalling £30,726 Il'ere made during 2024: leaving only £9,840 to be repaid in respect of the loan from the Free Church of Scotland. The loan from MethiKiist Chapel Aid was fully repaid in the )'ear. It is anticipated that the main1ng loan will be fully repaid by April 2025. The original intetrtion that repayment would not achieved until 2039. The Deacons, Court continues to be most grdteful for the colltinuing generous supw)rt of th¢ congregation throughout the year, particularly in respect of the loan repayments. Page 3
Fortrose Free Church of Scotland Report of the Trustees Trystees. Resp)nsibAlities Under legislation rel1ng to charities in Scotlan(L the trnstees must prepare fmancial ststements which give sufficient detsil to enable an appreciation of the transactions of the Church during the financial year. Th¢ trustees are responsible t.or keeping proper accountine trcords which must Ot anv time reflect the financial positton of the Church. This must be done to ensure that The financial statements cornp]y with th¢ Charitics and Trustee Inestment (Scotl2nd) Act 25 (as amended) and the Chariiieq Accounts (Scotland) Rcgulations 2006 (as amendcd). They kre also responsible for safeguarding the a&sets of the Church and miist take reasonable steps for the prevention and/or detection of fraud and otber irreoularitie5. tn preparing those fwwicial statement4 the Trustees are rquired to: sel¢¢t suitable aOn11n0 poli¢i¢s and then apply them ¢onsistently make judgements and estimates that are reasonable and pnjdent prcpare the financial staTcments on the 20ing concern basis unless it is inappropriats to presume that the church will continue its activities. On behalf of the Trn$t% 12 February 2025 Page 4
Independent Examiner's Report to the Trustees of Fortrose Free Church of Scotland I rtp)rt on the fiRarKial slalements of ihe charity for the year thled 31 Dnber 2024 set C1 on pages 6 to 10. Respective r¢spon5ibli ilirs of ¢ru5tee5 and examiner The eharhty's trustees are resr)nsible for the PreParats of the aounts in aceordanee whth the terms of th¢ Charitie5 end Trustec Investsnenl (SeilaThl) 2005 al the Charities Accounts (Sc18nd) Regulatio[2[106 (a5 Jmend¢d). lThech2rity'stThsteescos7dertImt ihe audi¢ requIrenIOrRegUIatiOn 10(IXa) to (c) of Éhe ACCotS Regulation5 not alwly. It is my 5)nsibil to examine the a¢counis as required undtt Seuion 44(IXc) of the Ai and io yale whdher particulftr matters have come lo my attentiC(L. Basis of (he kadependeal examiaerfs Ttport My examinalion wa5 carried out in &'Cordae with Regulation I14)fthe CharititsAttounts(ScrAland) Regulations 2006. An examinion in¢ludes a review ofthe accounling reeords kept by ihe (knrity. and a comparison ofthe accounts rKesen¢ed knith thosetrfwjk It alsoincludes considerdtion ofany unusl items OT disc105ure5 ill the teounts and seekingexplanalions from yw Ls tnL8tees concerning any such n]atters. Thc proccdurcs undcrthkn do pro¥i(k all the evIdCe that would be required in an audi¢ aTrJ cowuently I do n¢A expre55 an Awlil the vi¢w given by the aeeoLtntL Ind¢pEmleDt tmIne¢S statement In ColeCtIOn with my ¢XaTninaiion. Th) matter has ccme to my atntityi: (l) whith giYe5 me reasonable cause kn believe th. in iy marial re4Xa. the wuiremeT lo keep deunting record5 in with Secti(ffi 44(1 Ka) ofthe 2005 Ad 8nd Regulation 4 of ihe 20(k6 Accounts Regul18 and to prepare acco% which accord with th¢ a¢¢ouniirng mxwds ar to comply wilh Regulation 8 of the 2006 Accounts Regulaiions have be¢n met: or (2) to iyhich. in my opinion. attention should k dTxwn othto ¢ble & properwiderstanding of the a¢counls to be tucFd. Chartered Accountants 26 Lewis Street Siornoway Isle of Lewis HSI 2JF 5 May 2025
Fortrose Free Church of Scotland Receipts and Paents Account Y¢1rd31 Lkwthr202 Yrelld31 IktemEtt2023 2023 L9,74• 25J65 0)5 23239 (ITftAH1.TRccVTrd Chwh DooTcdlcctiL &77V 1415$ 419$ 4.885 21.364 S777 14.333 Ren in¢¢D I.3 J.853 278 650 278 4.914 To1 69W27 55.489 9B.478 Paym15 346 594 3.649 31.650 594 3.649 L4t ¢bch He2t& Lt lJ49 4x69 4169 1802 610 IB02 616 Autho IA29 436 436 i.632 EJ72 a39 iJTr iJ77 3.b45 Tr'eb5rtc 17¥ 52 726 42.176 42,l76 2.79.1 Athnin15b I. inlctr5¢ 1930 Totsl S•J97 50.163 itr). 13WI IIQ9521 TEth5 (3) .174) (io.wi Eorwtd 72 I7.2 T•t*l M4 6.070 (ieutJal Furwj colle¢ttth IA73 JA73 &9 IA73 6.0
Fortrose Free Church of Scotland Statement of Balances As 31 Ikcetnttt 2024 No 20Z4 FtTNDS HELD IA)CAI,I.V BaDk & C.sh in baTMI (Trpetting bala[e SUrplu[derlc1i} for the vear C.losiDg blnces 6.069 [10,982) 6,069 Tot81 of etary assets held &437 OG9 Re5trves Ilnic%tricted fitnds R¢stridtd funds 6.964 l J73 4.564 8,437 6,070 As$¢ts held for chritsblt L'hurch & MaDse .167,152 1.167 152 Other a55et5 T.ettinip incoTll¢ Tcl¥able Gift aid r1Verdle 652 3.791 2.490 3.ItA) 5.650 Ligbilities LA)1¢ loans itrfmanLL ntw Chtsh buildin8 credito and ac¢Thd charge 40.556 324 4U,g¥O 324 10.164 FUNDS HELD AT THE CENTRAL 0CE Inirstmcnts held. ai COSI 2J91 3.188 ihe ntst¢s t(xm part of th&8e fJnaDcial Page 7
Fortrose Free Church of Scotland Notes to the Accounts-year ended 31 December 2024 l. Accounting Policies Accounting Convenlion The financial statements have been prepared under the historical cost convention, suoject to the noting of tne manse at trustees. valuation. and in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended). Basis of Preparalion of Financiul Statements The financial statements have (en prepared on a receipts and payments b&sis. Church Income All voluntary income and interest received is accounted for when received. Jnvestments As the accounts are prepared on a receipts and payments basTs the investments are included at cost. Market value of the investments is disclosed within the notes to the accounts. Fi¥edAssets Ilcritabl¢ property is stated at the trustees. estimate of market value at the balance sheet date in respect of the manse and cost in respect of the new church building completed in 2019. No depreciation has been applied as dcpreeiation is a non cash item and therefore should noi be included in the reccipts and payments account. Receipts and PaymentsAccounL For the puryjose of thc Receipts and Payments Account as shown on page 6. funds are defined as follows: Unrestricted funds comprise grants and other income received for the objects of the church 'ithOut further specified purpose and are available as general funds. Restricted funds comprise income which ha5 been received for the objects of the church and sp¢¢ified for a restricted pury)0S¢ Within these objects b}, the donor. Page 8
Fortrose Free Church of Scotland Notes to the Receipts and Payments Accounts For the year ended 31 December 2024 2024 21123 2 Assets held for ch#rhable purptsses StotedoÉ cosl New chureh building 867,152 867,152 St&ked41 e4tren¢ by frwlees 300.1)(M) .167,152 300,(K)O 1,167.152 Long term loans to fallee new thureh building l)utstanding at 31 Ik¢ember. Free c.hurch ofs¢(Aland Methodist Ch4KI A5d 32233 8.324 40.557 9.840 The loan from the Free Church of sclan(L &qrri&s inteTtst at a rate of 5Yo per annunL is bein8 repaid b). equal month]N instaiments of £1.750 including interesL uthich at the currenl interest rdte of 50/0 per Sh¢Id result in the loan irtg full> repaid in Mav 2025. The loan from Meth(KJirt Ch4xl Ai¢L Mthich ¢arried interem at the rate of 5.4% ptramlum. was fvlly repaid durtng the year. Other credators and actrued ebarges Accn2ed charges 3?4 324 240 240 5 Investments The ¢ongTegation holds investm¢nt {(xJsl} 2.391 3,188 Market value of the ins'cstment 4.705 Fallowng ihe transfer of the Free Chuch paoion scheTne to a S]]ESt 5[{)rt insurance company the share pool units of the pension element of the en&>inei ini'esiment have I tsansferred ID order to ensure that the income continuts to used in accordance the original enntl intentions. This results in a reductiOD in the aDDual dividend income rtteiithle by the congregation. Pa8¢ 9
Fortrose free Church of Scotland Notes to the Receipts and Payments Accounts For the veat ¢Dded JI tktetllby 20•4 Illlrtstricted funds B81onceAI )1.12.24 1.1.24 Cjeral Fuoé 69.W27 66.627 6.964 l.l24 '1'rLferS 31.12.24 pttiai Collections 1.065 i3.417 1.665 i3.449 1505 1.473 Totsl rE$ttEd 35.114 1.473 8 Tran¢0$ wlib TT4Steos The Tninibier Is d ITUSl¥e. b) *thfitioHio pasTheDLS made fw LDatss¢heattDD aThJ powrr iA)sts of Q.866 (7023.£2.(M91, atL%¢ iDsuf8u¢Y of LIOI 12023-b6ll coull¢i] t&xof .71 I2_.£5.0j21. cxpuyjilutc ill I[rIOr Jllot of LI79120?1. £1441 man%¢ lelepknnc of£688 (2-£481} ltiE¥r] by th¢ Mgreg I)UTing thv vear yo1¢ts iotaUiu¥ £2.879 (2023.0.793)A¥tt¢#Ja&th th¢ twile o aomtnis'tration s¢n"itts. P4t io