REGISTERED CHARITY NUMBER: SC038145 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2025 for Thurso and North Coast Free Church Mackay & Co CA Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB
Thurso and North Coast Free Church Contents of the Financial Statements for the Year Ended 31 December 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 12 Detailed Ststement of Financial Activities 13 to 14
Thurso and North Coast Free Church Re ort of the Trustees for the Year Ended 31 December 2025 The trustees present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopled 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 1021 (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Aims and Affiliation The Free Church of Scotland currently has around 140 congregations in Scotland, as well as three in London and five in North America. and sister Churches founded by mission work in India, Peru and South Africa. The Church also has a full-time degree awarding college in the heart of Edinburgh for the Training of Ministers and other Christian workers and sustains an exiensive Missionary programme relative to the size of the Church. Dating from 1843 but with its roots in the Reformalion, it owes its distinctive title lo its historical slruggle lo remain 'free' from state interference in its internal affairs. It ha5 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 govemment from 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. Thurso and North Coast Free Church of Scolland is a congregalion of the national Free Church of Scotland working lowards the common aims set out above. It is a Presbyterian church adhering in its worship and doclrine to the position of the Church of Scotland at the Reformation. The Free Church of Scolland has an explanatory document which explains the origins of the Church and which gives the historical background to the Church. The Church buildings and the Minister's Manse are the property of the congregation and are held under the Church's model Irust deed. The government of the Free Church of Scotland is Presbyterian and the congregation is within the Northern Presbytery. Grantmaking The church makes grants from its tithed gift income lo individuals and organisations that are generally know to the Trustees and Ihe church. The beneficiaries are involved in activities or ministries compatible with the church's objectivies. ACHIEVEMENTS AND PERFORMANCE Charltable activities The Church met regularly for worship in the church building and on-line. The congregation continued its commitment to support the national Free Church of Scotland both spiritually and financially. Congregational activities included.. comrnunity based organisations making use of the church hall., Congregational funding and expenditure included= donations from church members and attendees via weekly offerings and bank direct debit. improvements and repairs to church building and manse. Page 1
Thurso and North Coast Free Church Re ort of the Trustees for the Year Ended 31 December 2025 FINANCIAL REVIEW Principal funding sources The church receives its funding from church members by way of weekly offerings and Gift Aid donations. Results for the year: The Statement of Financial Activilies reflects a deficit of £21,340 (2024 - deficil of £30,419). Investments Share Pool Units, Free Church of Scotland Units Value 31.12.25 Value 31.12.24 Congregational Endowments Sustentation Endowments Minister Supplements 2,197.00 7,771.00 149.45 13.446 47,559 915 12,641 44,715 860 Funds held as cash, Free Church of Scotland - balance at 31.12.25- £148,135.55. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitute an unincofporaled charity- Thurso and North Coast Free Church of Scolland (formerly know as Thurso and Reay Free Church) is established by Constitution. The Church is a Scottish Charity (No. SC038145). The Church's parent charity is the Free Church of Scotland (Charity No. SC012925). Recruitment and appointment of new trustees The Kirk Session exercises its discrelion in determining the most appropriate method of electing new Trustees. Any election prOsS must involve Ihe communicant membership of the congregation. There is no fixed term of Trusteeship. Prior to their appointment, new Trustees would have served for some time in various roles and would be familiar with the church's values, its aims and objectives as well as its day-to-day operations. Page 2
Thurso and North Coast Free Church ort of the Trustees for the Year Ended 31 December 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure Trustees and Office Bearers The Church is Presbyterian in govemment and its day-to-day running is undertaken by the Elders (the Kirk Session) and Finance committee. The Finance Committee's specific function relates ot the material and financial business of the congregation, whereas Elders are charged with the general and spiritual oversight of the Congregations. The finance Committee was disbanded and has been replaced by a Deacons. Court. The Deacons, Court comprises.. Rev Jerry Taylor Mr lain MacKillop Mr John Hymers Mr David Mackay Mr Stuart MacDonald Mr Ben Nicolson Rev John A Macleod Mr Jamie MacLauchlan Mr Angus Mackay Rlsk management The trustees have a duty to identify and review the risks lo which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC038145 Prln¢ipal address Millbank Road Thurso Cailhness KW14 7HQ Trustees l MacKillop J Hymers D Mackay S MacDonald B Nicolson Rev J A MacLeod Rev J C Taylor J MacLauchlan (appointed 25.5.25) A Mackay {appointed 25.5.25) Page 3
Thurso and North Coast Ffee Church ort of the Trustees for the Year Ended 31 December 2025 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Marcus D. Maclver CA Mackay & Co CA Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB TANGIBLE FIXED ASSETS North Coast Church Thurso Free Church ThLFrso Manse £515,000 £312,000 £138 000 £965 000 Approved by order of the board of trustees on behalf by.. and signed on its l MacKillop - Trustee Page 4
Inde endent Examinels Re ort to the Trustees of Thurso and North Coast Free Church I report on the accounts for the year ended 31 December 2025 set out on pages six to twelve. Respective responsibilltles of trustees and examiner The charity's trustees are responsible for the preparation of Ihe accounts in accordance with the lerms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charilies Accounts {Scotland} Regulations 2006 las amended). The charity's trustees consider that the audit requirement of Regulation 1011)(a) to Icl of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required LAnder Section 44(11{c) of the Act and to state whether particular matters have come to my attention. Basis of the independent examinerfs report My examination was carried out in accordance with Regulation 11 of Ihe Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kepl by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examinerfs statement In connection with my examinalion, no matter has come to my attention {1) which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 4411)(al of the 2005 Act and Regulation 4 of the 2006 Accounts Regulalions; and to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have nol been met; or 121 to which. in my opinion. attention should be drawn in order to enable a proper underslanding of the accounts to be reached. Marcus D. Maclver CA The Institute of Chartered Accou ants of Scotland Mackay & Co CA Unit 8 Golspie Business Park Golspie Suthedand KW10 6UB Page 5
Thurso and North Coast Free Church Stslement of Financial Activities for the Year Ended 31 December 2025 31.12.25 Tolal funds 31.12.24 Total funds Unrestricted Restricled fund funds Noles INCOME AND ENDOWMENTS FROM Donations and legacies 71,790 71,790 65,055 Investment income 113 4,906 5,019 6.883 Total 71,903 4,906 76,809 71,938 EXPENDITURE ON Charltable actlvitles Church Fabric 98,149 98,149 101,447 910 Total 98,149 98,149 102,357 NET INCOMEI(EXPENDITURE) Transfers between funds (26,246) 11,389 4,906 (11,389) {21,340) (30,419) Net movement In funds 114,857) 16,483) (21,340) {30,419} RECONCILIATION OF FUNDS Total funds brought forward 48,441 157,233 205.674 236.093 TOTAL FUNDS CARRIED FORWARD 33,584 150.750 184.334 205,674 The notes form part of these financial statements Page 6
Thurso and North Coast Free Church Balance Sheet 31 December 2025 31.12.25 Tolal funds 31.12.24 Total funds Unrestricted Restricted fund funds Notes CURRENT ASSETS Debtors Cash at bank 814 33,070 814 183,820 893 205,081 150,750 33,884 150,750 184,634 205,974 CREDITORS Amounts falling due within one year (300) (3001 (3001 NET CURRENT ASSETS 33,584 150,750 184.334 205,674 TOTAL ASSETS LESS CURRENT LIABILITIES 33,584 150,750 184,334 205,674 NET ASSETS 33,584 150,750 184,334 205,674 FUNDS Unrestricted funds Restricted funds 33,584 150,750 48,441 157,233 TOTAL FUNDS 184,334 205.674 The financial tate ents were approved by the Board of Trustees and authorised for issue on ..Z66...A.@.B.LWXand were signed on its behalf by.. l MacKillop - Trustee The notes form part of these financial statements Page 7
Thurso and North Coast Free Church Noles to the Financial Statements for the Year Ended 31 December 2025 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 1021 'Accounting and Reporting by Charities.. Slatement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019),, Financial Reportin9 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 cosl convention. Income All income is recognised in the Statement of Financial Activities On the charity has entitlement to the funds, it is probable Ihat the income will be received and the amount Can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannol be directly attribuled to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from lax on its charitsble activities. Fund accountlng Unrestricted funds can be used in accordance wilh the charitable objectives al the discretion of the trustees. Reslricted funds can only be used for particular restricted purposes within the objects of th8 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 8 continued...
Thurso and North Coast Free Church Notes to the Financial Statements - continued for the Year Ended 31 December 2025 INVESTMENT INCOME 31.12.25 31.12.24 Deposit Interest 5,019 6,883 TRUSTEES. REMUNERATION AND BENEFITS There were no Irustees. remuneration or other benefils for the year ended 31 December 2025 nor for Ihe year ended 31 December 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 65,055 65,055 Investment income 779 6,104 6,883 Total 65,834 6,104 71,938 EXPENDITURE ON Charitable activities Church Fabric 101,447 101,447 910 910 Total 101.447 910 102,357 NET INCOMEI(EXPENDITURE) Transfers between funds (35,6131 47,814 5.194 (47.8141 (30,419) Net movement in funds 12,201 (42,6201 {30,419) RECONCILIATION OF FUNDS Total funds brought forward 36,240 199,853 236,093 TOTAL FUNDS CARRIED FORWARD 48,441 157,233 205,674 Page 9 continued...
Thurso and North Coast Free Church Notes to the Financial Slatements - continued for Ihe Year Ended 31 December 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Other debtors 814 893 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Other creditors 300 300 MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.12.25 At1.1.25 Unrestricted funds General fund 48,441 (26,2461 11,389 33.584 Restrlcted funds Central funds Fabric 154,618 2,615 4,906 111.389) 148,135 2,615 157,233 4,906 111,389) 150,750 TOTAL FUNDS 205,674 {21,340} 184,334 Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 71,903 (98,149) (26,246) Restricted funds Central funds 4,906 4,906 TOTAL FUNDS 76,809 (98.149) (21.340) Page 10 continued...
Thurso and North Coast Free Church Notes to the Financial Statements- continued for the Year Ended 31 December 2025 MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fund 36,240 {35.6131 47,814 48,441 Restricted funds Central funds Fabric 196,328 3,525 6,104 (910) {47,8141 154,618 2,615 199,853 5,194 (47,814) 157,233 TOTAL FUNDS 236,093 (30,419) 205,674 Comparative net movement in funds, included in the above are as follows= Incoming Resources Movement resources expended in funds Unrestricted funds General fund 65,834 (101.447) (35,613) Restricted funds Central funds Fabric 6,104 6,104 19101 1910) 6,104 {910) 5,194 TOTAL FUNDS 71,938 1102,3571 (30,4191 Page11 continued...
Thurso and North Coast Fre8 Church Notes to Ihe Financial Statements - continued for the Year Ended 31 Dember 2025 MOVEMENT IN FUNDS- contlnued A current year 12 monlhs and prior year 12 monlhs combined position is as follows= Net movement in funds Transfers between funds Al 31.12.25 At 1.1.24 Unrestrlcted funds General fund 36,240 (61.859) 59,203 33,584 Restricted funds Central funds Fabric 196,328 3,525 11,010 1910} (59,203) 148,135 2,615 199,853 10,100 159,2031 150,750 TOTAL FUNDS 236.093 (51,759) 184,334 A curreni year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows-. Incoming Resour$ Movement resources expended in funds Unrestricted funds General fund 137,737 (199,596) (61.859) Restrlcted funds Central funds Fabric 11,010 11,010 (9101 (910) 11.010 {910} 10,100 TOTAL FUNDS 148,747 (200,506} {51,759) RELATED PARTY DISCLOSURES No trustee. other than Rev J Taylor, received any renumeration or reimbursement of expenses during the year (2024,. NIL). No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity durtng the year. Page 12
Thurso and North Coast Free Church Detailed Slatement of Financial Activilies for the Year Ended 31 December 2025 31.12.25 31.12.24 INCOME AND ENDOWMENTS Donations and legacies Offerings Tax recd Gift Aid Donations Donations Magazines Other receipts Investment Income 60,503 892 4,316 110 4,860 1,109 54,319 4,481 1,775 87 4,085 308 71,790 65,055 Investment income Deposit Interest 5,019 6,883 Total Incomlng resources 76.809 71,938 EXPENDITURE Charitable actlvltles Ministry and admin levies Presbytery dues Minister's expenses Supply & communion exps Fire precautions Fabric repairs & maintenance Zoom licences & live streaming New signage Magazines & Bible study books CCLI Donations Website Silver Strands 41,214 1,315 4,123 1,875 1,041 21,109 319 2,841 77 287 2,980 628 525 32,597 1,126 3,054 461 1,515 48,374 187 271 248 722 1,240 78,334 89,795 Support costs Management Water rates North Coast Church Insurance Light and heat Intemet charges Manse council tax Carried forward 82 1,821 6,158 229 3,433 11,723 2,552 12,297 229 3,643 18,721 This page does not fom part of the statutory financial slatements Page 13
Thurso and North Coast Free Church Detailed Slatement of Financial Aclivities for the Year Ended 31 December 2025 31.12.25 31.12.24 Management Brought forward Sundries 18,721 794 11,723 389 19.515 12.112 Governance costs Prior year accounts Accountsnw and legal fees 150 300 300 300 450 Total resources expended 98,149 102,357 Net expenditure (21,340) (30,419) This page does nol form part of the statutory financial ststements Page 14