REGISTERED CHARITY NUMBER.. SC038163 Drt of the TrLtstees and Unaudited Financial Statements for the Year Ended 31 December 2024 for Bonar Brid e Free Church of Scotland Mackay & Co Chartered Accountant5 Unit 8 Golspie Business Park Golspie Sutherland KW10 6U8
Bonar Brid e Fr8e Church of Scotland Contents of the Financial Statements for the Year Ended 31 December 2024 Page Report of the Truslees Independent Examinels Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 12 Detailed Statement of Financial Activities 13 to 14
Bonar Brid e Free Church of Scotland ort of the Trustees for the Year Ended 31 December 2024 The trustees present their report with the financial slatemenls of the charity for the year ended 31 December 2024. The trustees have adopted the provisions Df Accounting and Reporting by Charilies.- Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Irelarnd IFRS 102) (effective 1 January 2019). ACHIEVEMENT AND PERFORMANCE Activities and Achievements During the year, the congregation met regulady and frequently for public worship and carried out various activities in pursuit of Ils stated aims. The congregation continued its commitment to support the national Free Church of Scotland both spiritually and financially and through a prayerful interest in other congregations, church court committees and overse8s mission work. The level of ordinary income is consistent with previous years and there is continued partlQlP8tion by church members in the Gift Aid scheme. FINANCIAL REVIEW Reserves policy There was a deficit for the year of £11,516 (2023 - deficit £17,098). However, the church held unrestricted funds amounting to £123,219 at the year-end12023 - £134,734). That conslsted of a General account of £13,471 (2023 £2.636}. an unrestricted Fabric account with a balance of £80,018 12023 £44,446), and an unrestricted savings aGcounl with a balance of £67,651 (2023 £87,651) The Trustees, policy 15 to retain a minimum reserve of £1.000 in the General Fund. The Trustees are satisfied with the level of reserves at the year end. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Bonar Bridge Free Church of Scotland is established by Constitution. It is a registered Scottish charity.. No SC038163. Page 1
Bonar Brid e Free Church of Scotland Re ort of the Tfuslees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Trustees and Offlee Bearèrs The congregation Is governed and administered by elected office bearers (Elders and Deacons) and Finance committee members (all volunteers). and its minister. The Kirk session, consisting of the minister. elected elders and any assessor elders appointed by Ihe Presbytery of the bounds. has responsibility for spiritual oversight. The Finance Commlttee. which is compos8d of mlnisler, elected elders and deacons, and elected volunteers from the congregation. oversees temporal matters. Under charity Law, the Flnance Commtttee 8re deemed to be Trustees of the congregation as those responsible foi the day lo day man8gernent and control. It is distinct from the role of propety trustees who are responsible only for holding property in trust. The members of the Finance Committee who soNed during the year were as follows.. Organisational structure Bonar Bridge Free Church of Scotland is a congregations of the n8tional Free Church of Scoll8nd working tOW8rds the same common aims set out above. The congre9ation is within the Northem Presbytery and is aulhorised lo have a minister paid frorn the central funds of the Church. The church buildings al Migdale are héld under th8 Church's Model Trust deed while the Gair Hall is held under conditions of a local trust.. Appointment of charlty trustees The Kirk Session exercises Its dlscretion in determining the m05t appropriate method Df èlecting new Trustees. For elders and deacons any election must involve Ihe communicanl membefEhip of the congregation. The is no fixed term for elders and deacons. The Session should also recommend lo the Gongregation the additional membership of the Finance Commlttee on a year lo year basis. Those appoinled this way will serv& as Trustees for one year. Prior lo their appointmenl new trustees would have seNed the church for sotTTe lime in various role5 and would be famlli8r with the churches v81ue$, Ils aims and objectives as well as its day lo day operations. As part of their induction program, new trustees are reqUId lo understand their statutory responsibilities as well as their role as elder, deacon or flnance Committed member. Page 2
Bonar Brid e Free Church of Scoti ort of the Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Aims and Affiliation Dating from 1843 but with its roots in the Reforrnalion, Ihe Free Church of Scotland owes ils dislinclive tillp to rts historical Struggle to remain 'free' from stste interference in 115 spiritual affairs. It has close relations wlh many f0m)e churches throughout the world and accepts the Bible in its entirely as the Word of God and, therefore, derives its forms of teaching, worship, ministry and govemment from it. The main emphasi5 of our worship is the preaching of the 9ospel of free and sovereign salvation through Jesus Christ alone. The Free Church of Scotland is 8 Presbyterian church adhering in its worship and doclrine lo the position ot the Church of Scotland at the Reformation. there is an explanatory document slating the origins of the the church and listing documents in which is embodied its constitution. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC038163 Indopendent Examlner IAaiKiJi & La Chartered Accountant5 Unit 8 Golspie Business Park Golspie Suthertand KWIO 6UB Sollcltors Ewan, Harris and Co The West Deanery Castle Street Dornoch IV25 3SN Page 3
Bonar Bnd e Free Church of Scotland Re ort of the Trustees for the Year Ended 31 Decem er 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Bank of Scotland Tower Street Tain Ross->hire IV19 1DY Approved by order of the board of trustees on behalf by.. 3r" M4¥ 2og and signed on ils Page 4
ef6 Re Free Church of Sco and I report on the accounts for the year ended 31 D&¢ember 2024 Set out on pag88 six to twefv8. Rospectlyfy r&sponslbllltl•s of tru¥tMs and gxamln•r The ¢harhy'$ trust888 ar8 responslbl¢ for the preparallon of the attounls In aGGofdance the tem8 of th8 Charfltes and Trustee Inveslm8nl (S¢olAnd) Act 2005 and the Charitres Accounts (Swtl&nd) Regulatlons 2006 (as amendgd). Thg charitys trustsas consider at the aud rvquirEmenl of Re9ulation 10IIXa) lo (¢) ol thtr Aoxunts RegUtkn$ ¢oes not apply. 11 is my résponslbillty to examine th& accounts 08 requlred under Sect1 44(IX¢) of the Aot end to stsle wheth8r parU¢utar m8fters ha ¢om8 to my Ottsntlon. B8s1s of tho Indèp•nd•nt •x•nl¥wfs report My examination was ¢rnled oul In accordanc8 RegLSlaVon 11 of trR Charftles A¢ethts (S¢olandl Reguldttons 2006. An exeminabon includes a revlew of the accounlhg reco.kePt by the thrlty and 8 ¢omp8rlson of the aUftts prèséntsd th088 records. It also Includes con8ld8ratlon of aTry unustsl Item5 ¢r disdosums In the 8ccounts, and seeklng explanatlons fro YOU 95 Iru5tees Gon¢wnlng any SUGh rnallets. The woGeduMs undertaken do not ?rovfde all th8 evidence that woubs bè Yequlred In an aLtdlt, orn1 con8equanty I do not e¥pr885 an 8udft opinion on thè vlew gFven ty Ihe a¢c4unts. Ind•p•ftd8nt •mInerS 8lat•mènt In conn8eYon my ex8mlrwtk)n, no m3tter has o)me to my attefttion ' 11) which gives the reasonablÉ ouse lo bella thaL In any materid wesp8cL requireFnents to keep 8ccountlng records in a¢wr6an wlth SBdlon 44(IXa) of Ihe 2005 Aci 8nd Regul81ion 4 of the 20DS Arounts Regulailons; and to prepare accounts which arLY)rd wlth th8 auntIng records and to compty vlth Rwulallon 8 of the 2006 Acujurrts Rogut8tlons h8ve not bgen mgtr, or (2> to lthtth, In my oplnkln, attentlon shoutd be drawn In ordw to èn8bIe 8 Proper undtrrstsndlr ofiho 0o>)unts fv be re8ched. Mac*gy & Co Chartered Accountants Unlt 8 Gol$pl• 8uslnfjsÉ Pqrk G()Isple Sutherfand KW10 6UB Do1¢'. Pagg 5
8onar Brid e Free Ch h of Scotland statement of Financi81 Activities for the Year Ended 31 December 2024 31.12.24 Unrestricted funds 31.12.23 Total fullds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 29,594 19,444 Investment income 9,426 10,145 Total 39,020 2g.589 EXPENDITURE ON Charltsble activities Charitable activities 50.536 46.687 NET INCOMEI{EXPENDITURE) (11,5161 {17,og81 RECONCILIATION OF FUNDS Total funds brou9hl forward 134,735 151,833 TOTAL FUNDS CARRIED FORWARD 123,219 134,735 The notes fomi part of these f5nancial statemenls Page 6
8onar Brid e Fre of Sco Balance Sheet 31 December 2024 31.12.24 Unrestricted funds 31.12.23 Total fund Notes CURRENT ASSETS Cash at bank 141.141 134,735 CREDITORS Amounts falling due within one year 117,922) NET CURRENT ASSETS 123,219 134,735 TOTAL ASSETS LESS CURRENT LIABILITIES 123.219 134,735 NET ASSETS 123.219 134,735 FUNDS UnStricted funds 123,219 134.735 TOTAL FUNDS 123.219 134,735 The financlal sl8tements were appreved by thè Board of Trusteés and authorised lor issue on Bnd were signed on its behalf by-. The notes form part of these financial stat6ffl8nts Page 7
Bonar Brid e Free Church of Scotland Floles to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basi5 of preparing the finan¢ial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance wilh the Charities SORP IFRS 1021 '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 IFRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Star)dard applicable in the UK and Republic of Ireland, and the Charities and Truslee Inveslrnenl (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financ181 Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amounl can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a leg81 or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be qUired 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 heedings Ihal aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings Ihey have been allocated to activities on a basis consislent with the use of resources. Taxation The charity Is exempt from tax on its ¢h8ritable activities. Fund accounting Unrestricted funds can be used in accordance with Ihe charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted Pufposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nalure and purpose of e8ch fund is included in the notes to the financial statements. Page 8 conlinued...
Bonar Brid e Free Church of Scotland Notes to the Financial Slalemenls continued for the Year Ended 31 December 2024 INVESTMENT INCOME 31.12.24 31.12.23 Cottage rent Glebe rent Interest & investment income 5,400 100 3,926 5.400 loo 4.645 9,426 10,145 TRUSTEES. REMUNERATION AND BENEFITS Trustees, expenses Current year Previous Year Interim moderator's expenses Trustees, expenses Minlster's expenses 360 1103 1039 STAFF COSTS The average monthly number of employees during the year was as follows.. 31.12.24 31.12.23 Minister No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds INCOME ANO ENDOWMENTS FROM Donations and legacies 19,444 Investment income 10,145 Total 29.589 EXPENDITURE ON Charitable actlvities Charitable activities 46,687 NET INCOMEIIEXPENDITURE) {17,0981 Page 9 ontinued...
Bonar Brid e Free Church of Scotland Notes to the Financial St21ements - continued for the Year Ended 31 Dècember 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted funds RECONCILIATION OF FUNDS Total funds brought forward 151,833 TOTAL FUNDS CARRIED FORWARD 134,735 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trade creditors 17,922 MOVEMENT IN FUNDS Net movement in funds Transfers between funds Al 31.12.24 At 1.1.24 Unrestricted funds General fund Fabric Fund Savings Accour)t 2.637 44,446 87,652 110,379} 14,428) 3,291 3,292 20,000 (23,2921 (4.4501 60.018 67,651 134,735 (11,518) 123,219 TOTAL FUNDS 134,735 111,516} 123.219 Nel movement in funds, included in the 8bove are as follows.. Incoming Resources Movement resour5 expended in funds Unrestrlcted funds General fund Fabric Fund Savings Account 35,729 146,1081 (4.428) (10,379) {4,428) 3,291 3,291 39,020 (50,5361 {11,5161 TOTAL FUNDS 39.020 150,536) (11,516) Page 10 conlinued...
Bonar Brld e Free Church of Scotland Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued Comparatives for movement in lunds Net movement in funds Transfers between funds At 31.12.23 At1.1.23 Unrestrlcted funds General fund Fabric Fund Savings Account 2,512 1,666 147,655 (18,4251 (3,3151 4,642 18.550 46,095 {64,6451 2,637 44.446 87,652 151,833 (17.098) 134,735 TOTAL FUNDS 151.833 117,0981 134,735 Comparative net movement in funds. Included In the above are as follows.. Incoming Resources Movement reSoUrS expended in funds Unre$tri¢ted funds General fund Fabric Fund Savings Account 24,943 143,3681 (3,3161 {31 {18,4251 {3,3151 4,642 4,645 29,589 (46,6871 (17,0981 TOTAL FUNDS 29.589 146,6871 (17,098) A current year 12 months and prior year 12 months combined pos11ion is as follows.. Net movement in funds Transfers between funds At 31.12.24 At1.1.23 Unrestricted funds General fund Fabric Fund Savings Account 2,512 1,666 147,655 128.804) 17.743) 7,933 21,842 66,095 (87,9371 (4.4501 60.018 67,651 151.833 128.614) 123,219 TOTAL FUNDS 151.833 128,614) 123,219 Page11 continued...
Bonar Brid e Free Church of Scotland Notes to the Financial Statements continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continugd A current year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund Fabric Fund Savings Account 60,672 {89.476) {7,744) 13) (28,8041 (7,7431 7.933 7,936 68,609 {97.223) (28,6141 TOTAL FUNDS 88,609 197,223) {28.6141 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 12
Bonar Brid e Free Church of Scotland Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donations and legacies Freewill offering Church door & prayer mèeting Tax recovered on gift aid Magazines Missions Donations 22,839 1,325 5,243 137 50 14,239 1,135 3,755 165 150 29,594 19.444 Investment income Cotlage rent Glebe rent Interest & investment income 5,400 100 3,926 5,400 100 4,645 9,426 10,145 Total incoming resources 39,020 29,589 EXPENDITURE Charitable activities Ministerfs expenses Remittance to central funds Pulpit supply Insurance Heat & light Manse council tax Manse heat & light Church repairs & mainlenance Manse repairs & maintenance Magazines Presbytery & assembly dues Mission donations Share of Lairg manse expenses 1,039 36.421 4.606 1,131 1,369 1.587 435 1,356 1,721 1,097 34,550 3,623 1,110 2,119 2,138 90 160 282 100 1,184 383 123 131 50.302 46,453 Support costs Governance costs Accountancy and legal fees 234 234 This page does not form part of the stalutory financial statements Page 13
Bonar Brid e Free Church of Scotland Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 Total resources expended 50,536 46,687 Net expenditure (11,516) {17.0981 This page does not form part of the statutory financial statements Page 14