_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 1. 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 2. 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