REGISTERED CHARITY NUMBER: SC038162 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for Oban Free Church of Scotland Mackay & Co Chartered Accountants Unil 8 Golspie Business Park Golspie Sutherland KW10 6UB
Oban Free Church of Scotland Contents of the Financial Slatemenls for the Year Ended 31 December 2024 Page Report of the Trustees Independenl Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Slalements 7 to 11 Detailed Statement of Financial Activities 12 to 13
Oban Free Church of Scotland ort of the Trustees for the Year Ended 31 Dember 2024 The Iruslees present their report wtth the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement 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 leffeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Oban Free Church of Scotland is a congregation of the Free Church of Scotland working towards the common aims set out below. It 15 a Presbyterian church adhering in its worship and doctrine to the position of Ihe Church of Scotland at Ihe Reformation. The Free Church of Scotland has an explanatory dooument which explains the origins of the Church and which gNes the historical background to the Church coming inlo 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 The Free Church of Scotland currentty has over 100 congregations in Scotland, as well as one in London and four in North America, and sister Churches founded by mi55ion 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 Ihe church. The prlncipal activity of the Church is the conduct of public worship and associated matters in the context of local congregations. Dating from 1843 but with ils roots in the Reformation, it owes its dislinclive title to Its hlslorlcal struggle to remain 'free' from state interference in its internal affairs It has close and active relations with many other Reformed churches ot 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 sts forms of teaching, worship, ministry and government from il. The main emphasis 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 central funds of the Church. The church building and the minister's rnanse are the propety of the congregalion and are held under tfve Church's model trust deed. Page 1
Oban Free Church of Scotland ort of the Trustees for Ihe Year Ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities The congregation were saddened by the loss of their Minister in May 2024. Our Week worships have been held by the regular use of supply ministers. The congregation, through its formed Vacancy Committee, are aclively searching for a fulure permanent Minister. Charltable activitie5 During the year the church met regularly for worship and carried out various activities in pursuit of Ihe above slaled aims. The congregation conlinued ils commilmenl to support the Nalional Free Church of Scotland bolh spiritually and financially. Significanl highlights. evenls and developments of note in 2024 include the following= In relation to activities Sunday School Fellowship lunches Oulreach within the community Missionary meetings lo support the wider work of the church Special events for children Informal events for adults in the community FINANCIAL RPrfIEW Financial position As a result of a surplus for the year of £2,436. the Church held an unrestricted General Fund amounting to £2,018, a designated Legacy Fund of £25,150 and a restricted fund of £24,388. The TTUStees are satisfied with the level of reserves held by the charity. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Oban Free Church of ScotSand is estsblished by Constitution. The church is a registered Scottish Charity SC038162 Recrultment and appointment of new trustees The Kirk Session exercises ils discretion in determining the most appropriate method of electing new Trustees (Elders and Deacons). Any eleclion process must involve the communicant membership of the congregation. There is no fixed term for Trusleeship. 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 ils day-lo-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 of deacon. Organisational structure The congregation is governed and administered by elected office bearers {all volunleersl and its minister. The Kirk Session, being the minister and elected elders, has responsibility for spiritual oversighl, while the Deacon's Court, composed of Kirk Session members plus elected deacons, oversees financial and propety matters. Under Charity Law, the Deacons, Court are deemed to be the trustees of the congregation as those wilh responsibility for day to day management and control. This is distincl from the role of property (congregalionall truslees who are responsible only for holding property in trust. Page 2
Oban Free Church of Scollan Re ort of the Trustees for the Year Ended 31 De¢emb8r 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC038162 Independent Examiner Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB Approved by order of the board of trustees on behaK by.. and signed on I iuslee Page 3
Inde endent Examiner'5 Re ort to the Trustees of Oban Free Church of Scolland I report on Ihe accounts for the year ended 31 December 2024 set out on pages five to eleven. Respective responslbilities of trustees and examiner The charrty's trustees are responsible for the preparation of the accounts in accoidance wilh the terms of the Charities and Trustee Investment (Scollandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 las amended). The charity's Iruslees consider that the audit requiiement of Regulation 1011)1a) to Ic} of the Accounts Regulations does not apply. It is my responsibilty to examine the accounts as required under Section 44111{¢l of the Act and to state whether particular matters have come lo my attention. Basis of the independenl examinerfs report My examinalion was 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 Ih05e records. It also includes consideration of any unusual itèms or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The proc8dures undertaken do not provide all the evidence that would be required in an audil, and consequently I do not express an audit opinion on the view given by the accounts. Independent examlnetrs statement In connection wtth my examination, no matter has come to my attention . 11 } which gives me reasonable cause to believe that, in any material spect, the requirements to keep accounting records in accordance with Section 4411}(al of the 2005 Act and Regu18tion 4 of the 2006 Accounts Regulations., and to prepare accounts which accord with the accounting reGords and lo comply with Regulation 8 of the 2006 Accoun15 Regulations have not been met., or {21 to which, in my opinion. attention should bè drawn in order to enable a proper undarstandlng of the accounls to be reached. Mackay & Co Chartered Accountants Unil 8 Golspie Business Park Golspie Sutherland KW10 6UB Dale.. Page 4
Oban Free Church of Scotland Slatement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Tolal funds Unrestricted Reslricted funds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 52,842 1,115 53,957 48,554 Investment income Other income 554 148 554 10,421 591 11,546 10,273 Total 53,544 11,388 64,932 60,691 EXPENDITURE ON Charitable actlvities Church 61,717 779 62,496 72,795 NET INCOMEI{EXPENDITUREI {8,1731 10,609 2,436 (12.1041 RECONCILIATION OF FUNDS Total funds brought fojward 35,341 13,779 49,120 61,224 TOTAL FUNDS CARRIED FORWARD 27,168 24.388 51,556 49,120 The notes form part of these financial statements Page 5
Oban Free Church of Scotland Balance Sheet 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds fund Notes CURRENT ASSETS Cash at bank 27,168 24,388 51,556 49,120 NET CURRENT ASSETS 27,168 24,388 51.556 49,120 TOTAL ASSETS LESS CURRENT LIABILITIES 27.168 24,388 51,556 49,120 NET ASSETS 27,168 24,388 51,556 49,120 FUNDS Unrestricted funds.. General fund Legacies fund 2,018 25,150 10,191 25,150 27,168 35.341 Reslricled funds 24,388 13,779 TOTAL FUNDS 51,556 49,120 The financial talemenls were approvèd by the Board of Trustees and aulhoTised for issue on and were signed on its behalf by.. Trustee The note8 form part of these financial statements Page 6
Oban Free Church of Scotland Noles to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements The financial statements of the charity, which is a public benefit enlity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreSand {FRS 1021 (effective 1 January 20191,, Financial Reporting 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 cost convention. Income All income is recognised in the Stalement of Financial Activities once the charity has entitlement to the funds, it is probable Ihat the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to thal 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 related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxatlon The charity is exempt from lax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the truslees. Restricted funds can onty be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fijnds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial slatements. Page 7 Continued...
Oban Free Church of Scotland Notes to the Financial Statements - continued for the Year Ended 31 December 2024 DONATIONS AND LEGACIES 31.12.24 31.12.23 Donations Gift aid Freewill offering Church door collections Sunday school collection Disaster appeal collection Pulpit supply claim 1,210 10.163 33,664 2,900 978 175 4,867 9,918 35,924 1,410 932 370 53,957 48.554 INVESTMENT INCOME 31.12.24 31.12.23 Depostt account interest Dividend 554 445 146 554 591 CHARITABLE ACTIVITIES COSTS Direct Costs Church 62,496 TRUSTEES. REMUNERATION AND BENEFITS There were no Irustee5' remuneration 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. Page 8 continued...
Oban Free Church of Scotland Notes to the Financial Statements- continued for the Year Ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 47,435 1,119 48,554 Investment income Other income 591 626 591 11.546 10,920 Total 48,652 12,039 60,691 EXPENDITURE ON Charitable activities Church 56,889 15,906 72.795 NET INCOMEI(EXPENDITURE) Transfers between funds {8,237) 8,000 13.8671 18,000) (12,104) Net movement in funds 1237) 111,867) {12,104) RECONCILIATION OF FUNDS Total funds brought forward 35,578 25,646 61,224 TOTAL FUNDS CARRIED FORWARD 35,341 13,779 49,120 MOVEPJIENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Legacies fund 10,191 25,150 (8.173) 2,018 25,150 35,341 (8.1731 27,168 Restricted funds Fabric 13,779 10.609 24,388 TOTAL FUNDS 49,120 2,436 51,556 Page 9 continued...
Oban Free Church of Scotland Noles lo the Financial Statements- continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming Resources Movemenl resource5 expended in funds Unrestricted funds General fund 53,544 {61,717} (8,173) Restricted funds Fabric 11,388 1779) 10,609 TOTAL FUNDS 64,932 {62,496) 2,436 Comparatives for movement in funds Net movemenl in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Legacies fund 10,428 25,150 18,237) 8,000 10.191 25,150 35,578 18,2371 8,000 35.341 Restricted funds Fabric 25,646 (3,8671 18,000) 13.779 TOTAL FUNDS 61,224 (12,1041 49,120 Comparative net movemenl in funds, included in the above are as follows-. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 48.652 156,889) {8,2371 Restricted funds Fabric 12,039 115,9061 13,867) TOTAL FUNDS 60,691 172,7951 {12.1041 Page 10 continued...
Obar¢ Free Church of Scotland Notes to the Financial Statements- Continued for the Year Ended 31 December 2024 RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 December 2024. Page11
Oban Free Church of Scotland Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds funds INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Freewill offering Church door collections Sunday school collection Disaster appeal collection Pulpit supply claim 1,160 10,163 32,599 2,900 978 175 4,867 50 1,210 10,163 33,664 2,900 978 175 4,867 9,918 35.924 1,410 932 370 1,065 52,842 1,115 53,957 48,554 Investment income Deposit account interest Dividend 554 554 445 146 554 554 591 Other income Church magazines Car parking Other income Other fundraising 108 108 5,696 910 3,707 126 5,001 2,495 3,924 5,696 870 3,707 40 148 10,273 10,421 11,546 Total incoming resources 53,544 11,388 64.932 60,691 EXPENDITURE Charitable activltles Rates and water Insurance Light and heal Telephone Postage and stationery Sundries Remittances to central fund Pulpit supply Presbytery dues Carried forward 3.802 3,013 2,852 565 419 2.546 37,362 7,571 707 58,837 3,802 3,013 2,852 565 419 2,546 37,362 7,571 707 58,837 3,717 2,826 2,898 607 999 232 37,300 2,308 1,084 51,971 This page does not form part of the statulory financial statements Page 12
Oban Free Church of Scolland Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Reslricted fund5 funds Charitable activities Brought foard Repairs and renewals Donalions etc Sunday school expenses Minister's car allowance Manse- Heat 58,837 58,837 779 376 714 51,971 15,906 1,110 1.025 81 2,702 779 376 714 1,790 1,790 61,717 779 62,496 72,795 Total resources expended 61.717 779 62,496 72,795 Net {expenditure}lincome 18,173) 10,609 2,436 {12,104) This page does nol form part of the slatulory financial statements Page 13