Scottish Charity No.SC038161
Lochbroom and Coigach Free Church of Scotland
Trustees’ Report and Financial Statements Year Ended 31 December 2024
Lochbroom and Coi ach Free Church of Scotland g Contents of the Financial Statements for the year ended 31 December 2024
| Page | |
|---|---|
| Church Information | 1 |
| Report of the Trustees |
2-3 |
| Report of the Independent Examiner | 4 |
| Receipts and Payments Account |
5 |
| Statement of Balances |
6 |
| Notes to the Financial Statements | 7-9 |
Lochbroom and Coi ach Free Church of Scotland g Church information for the year ended 31 December 2024
Bankers
Royal Bank of Scotland
11 Argyle Street, Ullapool, Ross-shire, IV26 2UE
Solicitors
George Street Law
4 George Street, Dingwall, Ross-shire IV15 9SA
Independent Examiner
Page 1
Lochbroom and Coi ach Free Church of Scotland g
Report of the Trustees for the year ended 31 December 2024
The Trustees are pleased to present their report together with the financial statements of the church for the year ended 31 December 2024.
Status of Charity and Governing Document
Lochbroom and Coigach Free Church of Scotland is established by Constitution. It is a registered Scottish Charity, (No. SC038161)
Aims and Affiliation
Lochbroom and Coigach 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 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. The document is available on request from the Free Church of Scotland, 15 North Bank St., The Mound, Edinburgh, EH1 2LS.
The Free Church of Scotland currently has over 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, the Free Church of Scotland 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 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.
The congregation is authorised by the Church to have a minister paid from central funds of the Church. The church buildings and the minister’s manse, together with the manse in Coigach, are the property of the congregation and are held under the Church’s model trust deed.
Trustees and Office Bearers
The congregation is governed and administered by elected office bearers (all volunteers) and its minister. The Kirk Session, being the minister and elected elders, has responsibility for spiritual oversight, while the Deacons’ Court, composed of Kirk Session members plus elected deacons, overseas financial and property matters. Under charity law the Deacons’ Court 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 congregational trustees responsible only for holding property in trust.
Appointment of Charity Trustees
The Kirk session exercises its discretion in determining the most appropriate method of electing new Trustees (Elders and Deacons). Any election process must involve the communicant membership of the congregation. There is no fixed term for Trusteeship. Prior to their appointment, 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-to-day operations. As part of their induction programme, new Trustees are required to understand their statutory responsibilities as well as the responsibilities of their office within the congregation as elder or deacon.
Page 2
Lochbroom and Coi ach Free Church of Scotland g Report of the Trustees for the year ended 31 December 2024
Achievements and Performance
During the year, the congregation met regularly for public worship and carried out various activities in pursuit of the above stated aims. The congregation continued its commitment to support the National Free Church of Scotland both spiritually and financially.
In relation to congregational funding :
-
A sustained level of donations from church members, adherents and visitors via weekly offerings and Gift Aid donations.
-
Continued participation by church members in the Gift Aid scheme with full use made of the Gift Aid Small Donations Scheme.
-
Special offerings in support of needy individuals and various Christian organisations at home and abroad.
Results and reserves
The results for the year and the reserves held at the year-end are set out in the attached Receipts and Payments Accounts and the associated notes.
The trustees are satisfied with the level of reserves retained by the charity.
Approved by the Trustees and signed on their behalf on
Page 3
Lochbroom and Coi ach Free Church of Scotland g
Report of the Independent Examiner to the Trustees for the year ended 31 December 2024
I report on the accounts of the church for the year ended 31 December 2024 which are set out on pages 5 to 9.
Respective responsibilities of trustees 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 (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) 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 and seeks explanations from the trustees concerning 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 Examiners’ Statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
-
to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date
Page 4
Lochbroom and Coigach Free Church of Scotland
Receipts and Payments Accounts
For the year ended 31 December 2024
| Notes Receipts Gift Aid Giving Gift Aid Tax Refund Church Door collections Envelopes Interest on Deposits Investment income Rental Income Legacy/ Tanera Donation Grant Support donations Total Receipts Payments Payments for Charitable activities Remittances to Central funds Presbytery Dues Pulpit Supply and Communion Expenses Ministers expenses Ministers Supplement Church & Manse Insurance Heat & Light Water Services Telephone and Broadband/Sfarers Council Tax - Manse Repairs & Renewals Equipment Magazines Publications Fund Raising Advertising Room hire/Land Rental Youth Work Housekeeping Grants/ Earmarked Donations Sundry Expenses Independent Examination Total Payments Surplus/(deficit) for the year before transfers Transfers Surplus/(deficit) for the year after transfers |
General Designated Fund Funds £ £ 24,574 7,434 10,907 22,006 38 299 - 5,420 - - - 64,959 5,719 40,848 1,623 1,802 2,628 - 2,427 8,463 - 552 3,101 74 177 935 - 15 - 4 77 500 300 63,448 78 1,511 5,641 1,000 (1,000) 2,511 4,641 Unrestricted Funds |
Restricted Funds £ 715 155 1,355 957 10,000 1,521 14,703 592 373 1,325 2,290 12,413 12,413 |
Total 2024 £ 25,289 7,589 10,907 23,361 1,294 - 5,420 10,000 1,521 85,381 40,848 1,623 1,802 2,628 - 2,427 8,463 - 552 3,101 666 373 177 935 - 15 4 - 77 1,825 - 300 65,817 19,564 - 19,564 |
Total 2023 £ 25,364 3,224 9,175 20,375 866 1,362 5,440 - 1,255 67,060 39,481 780 2,513 3,260 - 2,235 8,801 - 519 3,033 3,531 - 54 1,253 20 4 147 - 1,330 - 260 67,221 (161) - (161) |
|---|---|---|---|---|
The notes on pages 7 - 9 form an integral part of these accounts.
Page 5
Lochbroom and Coigach Free Church of Scotland
Statement of Balances
As at 31 December 2024
| Funds reconciliation Opening cash at bank and in hand Surplus/(deficit) for the year Closing cash at bank and in hand Bank and cash balances Business account Savings account Other assets Funds held at the Central Offices Opening balance Movement in year Closing balance Buildings, improvements and equipment etc Manse houses Church redevelopment Fixtures and equipment |
General Designated Fund Funds £ £ 1,539 12,252 2,511 4,641 4,050 16,892 General Designated Fund Funds £ £ - 40,794 - 5,884 - 46,678 - 439,662 - 186,266 - - - 672,606 Unrestricted Funds |
Restricted Funds £ 39,152 12,413 51,564 Restricted Funds £ - - - - - - - |
Total 2024 £ 52,943 19,564 72,507 Total 2024 £ 6,906 65,601 72,507 Total 2024 £ 45,544 45,544 470,862 215,098 - 731,504 |
Total 2023 £ 53,104 (161) 52,943 Total 2023 £ 3,055 49,887 52,942 Total 2023 £ 40,160 634 40,794 444,862 188,417 526 674,599 |
|---|---|---|---|---|
The notes on pages 7 - 9 form an integral part of these accounts. Approved by the Trustees and signed on their behalf on …....................................................................2025.
Page 5
Lochbroom and Coi ach Free Church of Scotland g
Notes to the Receipts and Payments 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 Charities Accounts (Scotland) Regulations 2006.
Basis of financial statements
The financial statements have been prepared on a receipts and payment 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 incorporated in the Statement of Balances. Depreciation is provided at rates calculated to write off the cost of each asset evenly over its expected
useful life, as follows:
Heritable property - 1% straight line
Fixtures and equipment - 20% straight line
Fund accounting
Funds are defined as follows:
Unrestricted funds comprise grants and other income received for the objects of the church, without further specified purpose and is 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.
Benevolent Funds - gifts received specifically for goodwill or needy causes
Page 5
Lochbroom and Coigach Free Church of Scotland
Notes to the Receipts and Payments Accounts
For the year ended 31 December 2024
2 Assets held for charitable purposes
| Cost As at 1 Jan 2024 Additions Disposals At 31 December 2024 Depreciation As at 1 Jan 2024 Additions Disposals At 31 December 2024 Net Book Value At 31 December 2024 At 31 December 2024 |
Manse Manse Churches (Ullapool) (Coigach) £ £ £ 295,000 225,000 215,098 - - - - - - 295,000 225,000 215,098 47,200 27,938 26,681 2,950 2,250 2,151 - - - 50,150 30,188 28,832 244,850 194,812 186,266 247,800 197,062 188,417 Heritable Property |
Fixtures & Equipment £ 44,254 - - 44,254 43,728 526 - 44,254 - 526 |
Total £ 779,352 - - 779,352 145,547 7,877 - 153,424 625,928 633,805 |
|---|---|---|---|
The Church building in Lochbroom was erected in 1909 at a cost of £3,000. Building re-instatement insurance £1,576,126.25.
The Coigach Church was built in 1870.
Building reinstatement insurance £706,500.37.
The Manse situated at Castle Terrace Ullapool was professionally valued in March 2007 at £295,000 by Allied Surveyors of Dingwall. Current insurance valuation of £651,854.03 overstates market value at the present time.
The Coigach Manse is tenanted and carries an insurance valuation of £423,706.81 which is considered to be in excess of market value.
3 Transactions with Trustees
The Minister lives rent free in the Mance owned by the Church with Council Tax, heating / lighting and property insurance paid by the congregation. Expenses incurred whilst carrying out normal duties amounted to £5289.87.
Page 5
Lochbroom and Coigach Free Church of Scotland
Notes to the Receipts and Payments Accounts
For the year ended 31 December 2024
| 4 Grants paid Presentations Overseas work Home work 5 Unrestricted funds General Fund Designated fund (asset fund) Total unrestricted funds |
Balance at 01.01.24 £ 1,539 12,252 13,791 |
Incoming resources £ 64,959 5,719 70,678 |
Resources expended £ (63,448) (78) (63,527) |
2024 £ 1,200 625 - 1,825 Transfers £ 1,000 (1,000) - |
2023 £ - 640 690 1,330 Balance at 31.12.24 £ 4,050 16,892 20,943 |
|---|---|---|---|---|---|
Explanation of funds
The General Fund encompasses all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.
The Designated Asset Fund represents unrestricted funds which have been earmarked by the Trustees for particular purposes.
| 6 Restricted funds Congregational Fund Fabric Fund Grant Support Fund Benevolent Fund Total restricted funds |
Balance at 01.01.24 £ 29,973 6,561 2,476 142 39,152 |
Incoming resources £ 10,957 2,225 1,521 14,703 |
Resources expended £ (373) (592) (1,325) (2,290) |
Transfers £ - |
Balance at 31.12.24 £ 40,556 8,194 2,672 142 51,564 |
|---|---|---|---|---|---|
Explanation of funds
Conregational Fund - proceeds of legacy specifically for Congregational use.
Fabric Fund - represents gifts received specifically for the fabric fund.
Grant Support Fund - represents gifts received specifically for grant support.
Benevolent Fund - gifts received specifically for goodwill or needy causes.
Page 5