REGISTERED CHARITY NUMBER: SC038149 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for Helmsdale and Kinbrace Free Church Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB
Helmsdale and Kinbrace Free Church Contents of the Financial Statements for Ihe Year Ended 31 December 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Slalements 8 to 14 Detailed Statement of Financial Activities 15
Helmsdale and Kinbrace Free Church ort of the Trustees for the Year Ended 31 December 2024 The trustees presenl their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounling 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 20191. OBJECTIVES AND ACTIVITIES Objectlves and aims Helmsdale and Kinbrace Free Church of Scotland is a congregation of the Free Church of Scotland working towards the common aims set out below. It is a Presbyterian church adhering in its worship and doctrine to the posilion 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 Street, The Mound, Edinburgh, EH1 2LS. Signlfi¢ant activities The principal activity of the Church is the conduct of public worship and associated matters in the context of local Congregations. ACHIEVEMENT AND PERFORMANCE Charltable activities During the year the church met regularly for worship and carried out various activities in pursuit of the above slated aims. The congregation continued its commitment to support Ihe National Free church of Scotland both spiritually and financially. Significant highlights, events and developmenls of note include the following:_ In relation lo activities: Sunday School School assemblies and special event for children Fundraisers for Charity and Mission work In relalion lo congregational funding.. There is a Benevolent Fund which was initiated to give assistance lo persons with special needs within the community. FINANCIAL REVIEW Principal funding sources The principal funding sources are the various congregational colleclions. Reserves pollcy The Trustees are satisfied with the level of reserves held by ihe charity in that they are sufficient to cover the immediate basic operating costs of the Helmsdale and Kinbrace Free Church of Scotland. At the year-end, the congregation had cash reserves of £22,446 {2023 £22.610), comprising unrestricted of £21,725{2023 - £20,141) and restricted of £721 {2023 - £2,469). Page 1
Helmsdale and KInbra Free Church Re ort of the Trustees for the Year Ended 31 December 2024 FUTURE PLANS The congregation will continue its commitment to support the national Free Church of Scotland both spiritually and financially. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governlng document, a d8ed of trust and constitutes an unincorporated charity. Helmsdale and Kinbrace Free Church of S¢olland Is established by Constitution. The church is a registered Scottish Charity SC038149 Recruitment and appointment of new trustees The Kirk Session exercises its discrelion in determining the most appropriate method of electing new Trustees (Elders and Deacons). Any election process must invOe Ihe communicant membership of the congregation. There Is no fixed term for Trusteeship. Prior to th6ir appointment new Trustees would have served the Church for some lime in various roles and would be familiar with the Church's values, its alms and objeclives as well as its day-to-day operations. As part of their induction programme new Trustees are required to understsnd thelr statutory responsibiltiies as well as the responsibilities of their office wilhin the congregalion as elder or deacon. Organisational structure The congregation is governed and administered by elected office bear&rs (all volunteers) and its minister. The Kirk Session. being the minister and elected elders, has rèsponsibility for spiritual oversight, while the Deacon's Court, composed of Kirk Session members plus elected deacons, oversees financial and property rnatters. Under Charity Law, the Deacons. Court are deemed to be Ihe trustees of the congregation as those with responsibility for day to day management and control. This Is dlstinct from the role of propety (congregational) trustees who are responsible only for holding property in trust. The Flnance CommÈttee (the Trustees) who served during the year were as follows - Interim Moderator Kirk Session Cler Elders IAssessor}- along wil Conare ational Trustees.. for holding property) Finance Committee.. asurer Clerk lo Finance Committee along with Page 2
Helmsdale and Kinbrace Free Church ort of th8 Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Wider network The Free Church of Scotland currently has over 100 congregations in Scotland. as well as one in London and four in North AmeriGa, and sister Churches founded by mission work in India, Peru and South Africa. The Church also has a seminary in Edinburgh for Ihe training of Ministers and other Christian workers, and sustains an extensive Missionary programme relative to the size of the church. Dating from 1843 but with its roots in the Reformalon, it owes its distinctive title to its historical struggle to remain 'free' from stste interference in its internal affairs. 11 has close and aots've relations with many olher Reformed churches of Jesus Christ Ihroughoul the wodd and stands fimly in the tradition which accepts thè Bible in its entirety as the Word of God and, therefore, derives its forms of teaching, worship, ministry and government from il. The main èmphasls of our worship is the preaching of Ihe gospel - the good news of a free and sovereign salvation through Jesus Christ alone. The congregation is authorised by the Church to have a minister paid from the central funds of the Church. The church building and the ministerfs manse are the property of the congregation and are held under the Church's model trust deed. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number SC038149 Principal address Free Church of Scotland 12 Dunrobin Street Helmsdale Sutherland KW8 6JA Page 3
Helmsdale and Kinbrace Free Church ort of the TrLJStees for the Year Ended 31 December 2024 REFERENCE AND ADMINISTRATIVE DETAILS t Examiner Mackay & CD Chartered Accountants Unil 8 Golspie Business Park Golspie Sutherland KW10 6UB Approved by order of the board of trustees on behalf by: ..aoa(........... and signed on its Page 4
Inde endent Examiner's Re ort to the Trustees of H Imsdale and Kinb ce Free Church I report on the accounts for the year ended 31 December 2024 Set out on pages six lo fourteen. Respective responsibilities of trustses and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment {Scotlandl Act 2005 and Ihe Charities Accounts {Scoiland) Regulations 2006 (as amended). The charity's trustees consider that the audit requifement of Regulalion 1011 Ila) to {c) of the Accounts Regulations does nol apply. It is my responsibility to examine the accounts as required under Section 4411 Xc) of the Act and to state whether particular matters have corne to my attention. Basls of the independent examiner's report My exafflination was carried out in accordance with Regulation 11 of the Charities Acwunls (Scotlandl Regulations 2006. An examination includes a review of the accounting records kept 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, 2nd seeking explanalions from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidpnce that would be required in an audit, and consequently I do not express an audil opinion on the view given by the accounts. Independent examiner's statement In connection wf(h my examination, no matter has come lo my attention (1) which gives me reasonable cause to believe that. in any material respect, the requirements lo keep a¢counling records in accordance with Section 44(1)la) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations., and to prepare awounts which accord wth the accounting records and lo comply with Regulation 8 of the 2006 Accounts Regulations have not been met., or (2) to which, in my opinion, atlention should be drawn in order to enable a proper understsnding of the accounts to be reached. ere Unit 8 Golspie Business Park Golspie Sutherland KWIO 6UB ccoun Date: .. Page 5
Helmsdale and Kinbrace Free Church Statement of Financial Activities for Ihe Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 49,896 49,896 35,712 Investment income 722 722 704 Total 50,618 50,618 36,416 EXPENDITURE ON Charitable actlvltles Church Sunday school Building repairs 47,340 47.340 52 2,360 42,758 45 52 2,360 Total 47,340 2,412 49,752 42,803 NET INCOMEI(EXPENDITURE) 3,278 (2,412) 866 (6,387) RECONCILIATION OF FUNDS Total funds brought forward 13,128 2,470 15,598 21,985 TOTAL FUNDS CARRIED FORWARD 16,406 58 16,464 15,598 The noles form part of Ihese financial statements Page 6
Helmsdale and Kin race Free Church Balan Sheet 31 December 2024 31.12.24 Tolal funds 31.12.23 Totsl funds Unrestricted Restricted funds funds Notes CURRENT ASSETS Cash at bank 21.725 721 22.446 22,610 CREDITORS Amount5 falling due within one year {5.319) (6631 (5.982) {7,012) NET CURRENT ASSETS 16,406 58 16.464 15,598 TOTAL ASSETS LESS CURRENT LIA81LITIES 16.406 58 16.464 15,598 NET ASSETS 16.406 58 16.464 15,598 FUNDS Unrestricted funds Restricted funds 16,406 58 13.128 2,470 TOTAL FUNDS 16,464 15.598 The financial statsments were approved by the Board of Trustees and authorised for issue on j.aMstYJ.ty.LIc)......... and were signed on ils behalf by.. The notes form part of Ihese finanaal statements Page 7
Helmsdale and Kinbrace Free Church Notes to the Financial Ststements for the Year Ended 31 December 2024 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= Slalement of Recommended Practice applicable to charilies 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 Irelarbd, and the Charities and Trustee Investmenl (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a lega5 or constructive obligalion 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost relaled to the calegory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charfty is exempt from tax on its charitsble activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objective5 al the discretion of the trustees. Unrestricted funds include= General fund Designated funds: National Savings Account Bank of Scotland Guaranteed Reserve Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Restricted funds include.. Sunday School Account Vacancy Account Fabric Fund Benevolent Fund Youth Work Page 8 continued...
Helmsdale and Kinbrace Free Church Notes to the Financial Slatements - contlnued for the Year Ended 31 December 2024 INVESTMENT INCOME 31.12.24 31.12.23 Rents received Deposit account interest 465 257 480 224 722 704 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneralion or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 33,712 2,000 35,712 Investment income 704 704 Total 34,416 2,000 36.416 EXPENDITURE ON Charitable activities Church Sunday school 42,370 388 45 42,758 45 Total 42,370 433 42,803 NET INCOMEI(EXPENDITURE) (7,954) 1,567 16,387) RECONCILIATION OF FUNDS Total funds broughl forward 21,082 903 21,985 TOTAL FUNDS CARRIED FORWARD 13.128 2,470 15,598 Page 9 ontinued...
Helmsdale and Kinbrace Free Church Notes to the Financial Statements - continued for the Year Ended 31 December 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdrafts (see note 61 Other creditors 663 5,319 7,012 5,982 7.012 LOANS An analysis of the maturity of loans is given below.. 31.12.24 31.12.23 Amounts falling due within one year on demand.. Bank overdrafts 663 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund National Savings alc 32-day Deposit {5,025) 7,790 3,020 (2,005) 7,790 10,363 258 10,621 13,128 3.278 16,406 Restrlcted funds Sunday School ajc Vacancy alc Fabric fund Benevolenl fund Youth Work 142 381 1,697 233 17 (52) 90 381 (663) 233 17 (2.360) 2,470 12.412) 58 TOTAL FUNDS 15,598 866 16.464 Page 10 continued...
Helmsdale and Kinbrace Free Church Notes to the Financial Ststements- continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS- contlnued Net movement in funds, included in the above are as follows.. Incoming Resources Movement resource5 expended in funds Unrestricted funds General fund 32-day Deposit 50,360 (47,340) 3,020 258 258 50,618 (47,340) 3,278 Restrlcted funds Sunday School alc Fabric fund {521 (2,360) 152} (2,3601 (2,412) (2,412) TOTAL FUNDS 50,618 (49,752) 866 Comparatives for movement In funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund National Savings alc 32-day Deposil 3.153 7.789 (8,178) {5,025) 7,790 10.140 223 10,363 21,082 {7,954) 13,128 Restrlcted funds Sunday School alc Vacancy alc Fabric fund Benevolent fund Youlh Work 187 381 85 233 17 145) 142 381 1.697 233 17 1,612 903 1,567 2.470 TOTAL FUNDS 21.985 (6,387} 15,598 Page11 continued...
Helmsdale and Kinbrace Free Church Notes to the Financi81 Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - contlnued Comparative nel movement in funds. included in the above are as follows.. Incorning Resources Movement resources expended in funds Unrestricted funds General ftjnd National Savings alc 32-day Deposit 34,192 (42.3701 {8,178) 223 223 34,416 (42,370) (7,954) Restricted funds Sunday School alc Fabric fund 145} {388) (45) 1,612 2,000 2,000 (433) 1,567 TOTAL FUNDS 36,416 142,803) {6,387) A current year 12 months and prior year 12 months combined position is as follows= Net movement in funds At 31.12.24 At1.1.23 Unrestrlcted funds General fund National Savings alc 32-day Deposit 3.153 7.789 15,158} (2,005) 7,790 10,140 481 10,621 21,082 (4,676) 16,406 Restricted funds Sunday School alc Vacancy alc Fabric fund Benevolent fund Youth Work 187 381 85 233 17 (97) 90 381 (6631 233 17 1748) 903 (8451 58 TOTAL FUNDS 21,985 (5.521 } 16,464 Page 12 continued...
Helmsdale and Kinbrace Free Church Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS . continued current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows-. Incoming ReSoUrS Movement resources expended in funds Unrestricted funds General fund National Savings alc 32-day Deposit 84,552 (89,7101 (5,158} 481 481 85,034 (89,710) (4,676} Restricted funds Sunday School alc Fabric fund {97) (2.748) {97} (748) 2,000 2,000 (2,845) (845) TOTAL FUNDS 87,034 (92.555) (5,521} RELATED PARfrf DISCLOSURES There were no relaled paty transactions for the year ended 31 December 2024. PROPERTY HELD BY THE CHURCH 2023 2022 Manse Church 229,000 200,000 229,000 200,000 429 000 429 000 Page 13 ontinued..
Helmsdale and Kinbrace Free Church Notes lo the Financial Statements - continued for the Year Ended 31 December 2024 10. FUNDS HELD CENTRALLY As at 31st December there were 149.45 share pool units held centrally. The value as at 30th September 2024 was £5.75 per unit, total value of £859.95. A dividend of £20.92 was credited to cenlral funds. Page 14
Helmsdale and Kinbrace Free Church Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid givings Envelope scheme - non Gift Aid Church door collections Income tax recovered Magazine income 11,449 22,898 5,660 7,021 2,773 95 2,361 16,877 5,045 6,669 4,760 49,896 35,712 Investment income Rents received Deposit account interest 465 257 480 224 722 704 Total incoming resources 50,618 36,416 EXPENDITURE Charitable activities Manse Council Tax Insurance Light and heat Magazines and stationery Sundries Remittance to Central Funds Ministers, expenses Pulpit supply & communion exp. Presbytery dues and levies Repairs and renewals Bank charges 2.528 1,174 2.231 99 527 31,596 3,804 939 193 6,289 2,465 809 1,613 163 588 28,758 6,818 453 326 388 49,380 42,383 Support costs Governance costs Accountancy and legal fees 372 420 Total resources expended 49,752 42,803 Net incomel{8xpendÉture) 866 {6,3871 This page does not form part of the statutory financial statements Page 15