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2024-12-31-accounts

Scottish Charity No: SC038179

Park Free Church of Scotland

Trustees’ Report and Financial Statements For the Year Ended 31 December 2024

Park Free Church of Scotland

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
Notes to the Accounts 8 - 9

Park Free Church of Scotland

Church Information

Trustees

A list of active Trustees during 2024 is provided in the Trustees’ Report on Page 2.

Address

Tel:

Bankers

Royal Bank of Scotland North Beach Street Stornoway HS1 2DE

Solicitors

Blackadders LLP 10 Euclid Crescent Dundee DD1 1AG

Independent Examiner

Page 1

Park Free Church of Scotland

Report of the Trustees

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

Park Free Church of Scotland is established by Constitution. It is a registered Scottish Charity (No: SC038179).

Aims and Affiliation

Park 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 building, the hall and the minister’s manse 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, oversees 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 property (congregational) trustees who are responsible only for holding property in trust.

The members of the Deacons’ Court (the Trustees) who served during the year were as follows:-

Deacons’ Court Elders Ministerial Team Congregational Trustees For holding Property -

Page 2

Park Free Church of Scotland Report of the Trustees Appointment of Charity TTh5tee5 The Kirk Session CKcrcises its discretÈon in determining the tnost appropriate method of electing new Trustees (EldeTS and tkacons). Any election proc¢ss must involve the communicant rnembership of the congregation. "I'here is no hxed temi tor Tnjsteeship. PrioT to their appointmeti¢ new T￿st¢eS would have served the chU￿h tor some time in vaTiOUS roles and would be familiar with the chU￿h'S values, its aims and objectives as well as its day-to-day operdtions. As part of their induction progrdmme, new Ttustes atE required to underst2Th1 their statutory responsibilities as well as the resw)nsibilities of th¢ir offi¢e within the congregation as elder or deacon. Aetivities and Achievements The congre8atiOD continued its commilm¢nt to supp(Yt thc National Frcc ChurclL of Scotland both spiritually and financially. Our Sunday S¢hc(>l has 4 ￿gUlar children attendin& with their parents ¢oming to church with thern. We held a 'Back to Church Sunday, at the beginning of the vear as a means of encouraging folk who hadn't b¢en to chU￿h for a while. or perhaps never, to come along. We We￿ ¢ncourdged to see some ew faces COTning aiong. Community relations continued to Ix strengthened and the gospel message shatEd through a CoTnmunity Carol Servi￿ in December. We have consre8ational fellowship meetings whar t¢*irnot)i¢s ar¢ Sha￿ by visitin8 spe8k¢tB Th¢ Womcn's Biblc Study continu¢s to m¢ct with a kw of tk womrn coming along b¢iTrg n¢H io the LhurLli CUM￿u￿1ly. An 'Open House Bible Study, is king h(￿ed in the himne of one of our elders. We offer tea and coffee after the morning seTvice as an OPPlMtunity to PTOmOte further friendship and fellowship. Weekly services on Sunday at 12pm and 6pm in English continue to be transmitted thmugh Fa¢ebook Live. In r¢lation to ¢ollgregational fMlldin¥. A growth in donations via Fr¢e Will Offering incoffte Increased participation in th¢ Gift Aid scheme Reserves Results for the year As a rcsult of a surplus for the year of £5209.60. the church held funds amountin8 to £83285.09 at the year end. That consisted of unrestri¢ted ￿ndS amounting to £23134.81, 8 deSi￿ated fund atnouniing to £1,000.00, trbtriLtrd fuiids" èJiiouAitiiig to £5915028. The trustees are satisfied with the lev¢1 of reserves retsI￿d by the chartty. On behalf of tbe Tnstee5 Datd: Pagc 3

Park Free Church of Scotland Re￿rt ofthe llDde￿d￿t Fxmintrs to tht TruBknforikn￿ ended31 Lknnthr 2024 l ￿port on the a¢￿Unts of the churth fcr th¢ ycar I￿kd 31 DecaDber 21Y24 which we sd out on pages 6 to io. RcJpectiv¢ r¢JpfyllJilAlltles of m￿¢t3 eX￿Iller The charity's trustr4s are ￿s￿l￿]ble for the wep8Trtion of the actounts in ￿)rd￿Ce with the tem)s of the Chariti¢s and 'lnth Investsnent (Scotland) Act 21X>5 ￿d the Charities A¢¢oullts Iscotland) Regulations 2006. I'￿ charity tTues c4)rtsider that the audit wuiranent of Regulation 10(] ) (d) of the Accounts Reg￿latIOnS does mot apply. It is my reskK)nsibilty k) eX￿nIng the &counLs &% rquired under wtion 44(1) (c) of the Act and k) whdhcr particular matters have com¢to my attenti￿. Basis of Indepe￿Ient e￿MIne￿5 ststemeRI My examinatlon is CaTTied oth in aCcOrd￿¢t wilh Re8ulation I l of the Charities Accounts (Scotlandl Regulations 2006. An examination includ¢s a revicw of tlK aLXOUAtillg records kept by the charity and a comparison of the ae(x>vnts Pres¢￿t￿ with tccorik. li also includes cortsi(tr&ion of any unusual it¢ms or disclosures in thc accoun￿ and ￿. ¢xPla￿li￿S frcffl the trustees ￿Tr￿l￿g such matters. The procedures undfft&i¢n do tK>t provid¢ all the ¢vidcn(Y tht wDuhl be rwuired in an a￿11¢ and consequently I do not express an ￿dit (yillioll on the view gtven by the &courts. Independent ExamiDtrs' Statement In the courae of my¢xamination, no matter has come to my attention . which gives me Trsonabk txuse k) believe that in y rnaterial res￿ the requiremen￿. to keep ac(x)untlDg re(x)rds in with 44(1) (a) of th¢ 2005 Act and R¢gul&ion 4 of the 2006 Accounts Regul&tion& and to prepare accounts which &a)rd with th¢ w>urting records aDd ¢anpty with Rcgu]a¢Kin 9 of the 21)06 Accounts Regulations have not or 2. to which, in my opinion. attcntion sIK￿ld be drawft iti orLkr to ethk a und￿dIng of the accounts to be rcathc Name.. Qualificatiffl.. Address: Dafr: .a?s

Park Free Church of Scotland

Receipts and Payments Accounts

For the year ended 31 December 2024

Notes
Receipts
Gift Aid
Church Door collections
Envelopes
Donations
Grant - Church Refurbishment
6
Bank Interest & Dividends
Income Tax Recovered
Magazines
8
Communion Expenses Appeal
8
Mid-week Special Collections
8
Other Income
Hall Lettings
Vacant Congregation Refund
Total Receipts
Payments
Payments for Charitable activities
Remittances to Central funds
5,8
Other Head Office Payments
Pulpit Supply & Communion Expenses
8
Minister's Expenses
Church, Hall & Manse Insurance
Rates
Heat & Light
Donations
Telephone, Broadband & Website
Honorarium
Postage
Presbytery Levies & Dues
Presentations
Travel & Subsistance
Youth Activities
Other Expenses
Magazines
8
Mid-week Special Collections
8
Church Hall
Manse Repairs
Total Payments
Surplus/deficit for the year
Transfers
7,8
Total Transfers
Net movement in funds after transfers
Total funds brought forward
Total funds carried forward
Represented by:
General Fund
7
Benevolent Fund
7
Projects Fund
8
Appeals Fund
8
Fabric Fund
8		 General
Designated
Fund
Funds
£
£
16690.50
0.00
9159.50
0.00
11751.00
0.00
2200.00
0.00
0.00
0.00
0.00
0.00
7356.73
0.00
0.00
0.00
0.00
0.00
0.00
0.00
94.99
0.00
0.00
0.00
1869.96
0.00
49122.68
0.00
35113.00
0.00
244.56
0.00
2909.55
0.00
200.00
0.00
3062.00
0.00
523.43
0.00
205.98
0.00
0.00
0.00
1196.64
0.00
306.20
0.00
12.80
0.00
915.00
0.00
576.99
0.00
651.70
0.00
113.93
0.00
1162.43
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
47194.21
0.00
1928.47
0.00
-3636.00
0.00
-3636.00
0.00
-1707.53
0.00
23873.34
1000.00
22165.81
1000.00
22165.81
0.00
0.00
1000.00
0.00
0.00
0.00
0.00
0.00
0.00
22165.81
1000.00
Unrestricted Funds		 General
Designated
Fund
Funds
£
£
16690.50
0.00
9159.50
0.00
11751.00
0.00
2200.00
0.00
0.00
0.00
0.00
0.00
7356.73
0.00
0.00
0.00
0.00
0.00
0.00
0.00
94.99
0.00
0.00
0.00
1869.96
0.00
49122.68
0.00
35113.00
0.00
244.56
0.00
2909.55
0.00
200.00
0.00
3062.00
0.00
523.43
0.00
205.98
0.00
0.00
0.00
1196.64
0.00
306.20
0.00
12.80
0.00
915.00
0.00
576.99
0.00
651.70
0.00
113.93
0.00
1162.43
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
47194.21
0.00
1928.47
0.00
-3636.00
0.00
-3636.00
0.00
-1707.53
0.00
23873.34
1000.00
22165.81
1000.00
22165.81
0.00
0.00
1000.00
0.00
0.00
0.00
0.00
0.00
0.00
22165.81
1000.00
Unrestricted Funds		 Restricted
Funds
£
1431.00
0.00
3395.00
5550.00
0.00
0.00
0.00
110.00
525.00
260.00
0.00
300.00
6440.04		 Total
2024
£
18121.50
9159.50
15146.00
7750.00
0.00
0.00
7356.73
110.00
525.00
260.00
94.99
300.00
8310.00		 Total
2023
£
22460.00
9221.50
13522.00
7660.00
20333.00
261.63
8390.35
266.00
605.00
543.00
100.00
0.00
0.00
49122.68 0.00 18011.04 67133.72 83362.48
35113.00
244.56
2909.55
200.00
3062.00
523.43
205.98
0.00
1196.64
306.20
12.80
915.00
576.99
651.70
113.93
1162.43
0.00
0.00
0.00
0.00		 0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00		 3187.00
0.00
974.00
0.00
0.00
0.00
6715.55
0.00
271.29
0.00
0.00
0.00
0.00
0.00
0.00
1839.20
265.63
260.00
0.00
1217.24		 38300.00
244.56
3883.55
200.00
3062.00
523.43
6921.53
0.00
1467.93
306.20
12.80
915.00
576.99
651.70
113.93
3001.63
265.63
260.00
0.00
1217.24		 36300.00
146.76
2519.97
215.99
2947.17
1320.02
5806.47
69.00
2189.35
306.00
18.00
1065.00
450.00
1694.86
247.64
2750.98
166.46
543.00
2161.80
0.00
47194.21 0.00 14729.91 61924.12 60918.47
1928.47
-3636.00		 0.00
0.00		 3281.13
3636.00		 5209.60
0.00		 22444.01
0.00
-3636.00 0.00 3636.00 0.00 0.00
-1707.53
23873.34
22165.81		 0.00
1000.00
1000.00		 6917.13
52233.15
59150.28		 5209.60
77106.49
82316.09		 22444.01
54662.48
77106.49
22165.81
0.00
0.00
0.00
0.00		 0.00
1000.00
0.00
0.00
0.00		 0.00
0.00
48781.60
31.31
10337.37		 22165.81
1000.00
48781.60
31.31
10337.37		 23873.34
1000.00
46531.60
186.94
5514.61
22165.81 1000.00 59150.28 82316.09 77106.49

Page 5

Park Frcc Church of s￿tland Statement of Ball￿LeS AS at 31 Dettmbff 2024 2013 & Cash in kthd OpeDin8 balance Surpli)sl{neficit) tr the )% Cl(&in% blneeJ TIIIY).49 52(W. 82316.09 54662.48 22444.01 7711￿.49 FuDds held •t the C¢n¢rl Offi¢ Investments held ￿ Cosl Opening balonce Movem¢ni in yur 969.00 969.00 Total ofmonetryuts held 78fr7S.49 I Inre8lrided fijrmts Dcsimed fiu Rcstri(Xed 23134.81 24842.34 1000. 52233 15 7¥075.49 39150.28 StAtement of AJts k¢ld for Clrltsbk p•rp IValuGs arc on ihc jrL%Uf￿ 0)Vert￿￿) Church. & H811 rixlurc5 & I'itiin Total 3480613.iKI 19512.(Kl 35fj1112S.(Kl 3379507.00 7YI32 IK 34W39.00 bttsnb¢nt of Il•Wlltlu *t 31 Ile¢ewb¢r20Z4 AppTtsv¢d hy Ibe TnLrteu aNI thir 1th￿bY the Truslec Dated [?- os-

Park Free Church of Scotland

Notes to the Financial Statements 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 payments 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 shown in the notes to the accounts. No depreciation has been applied as depreciation is a non-cash item and therefore should not be included in the receipts and payments account.

Receipts and Payments Account

For the purpose of the Receipts and Payments account as shown on page 6, funds are defined as follows:

Unrestricted funds comprise grants and other income received for the objects of the church without further specified purpose and are 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.

Page 7

Park Free Church of Scotland

Notes to the Receipts and Payments Accounts

For the year ended 31 December 2024

2. Tangible fixed assets

Cost
At 1 January 2024
Gain/Loss on Re-valuation
At 31 December 2024
3. Investments
The congregation holds investments (cost)
Market Value of the investments		 £
3379507.00
101106.00
3480613.00
Heritable
property		 £
79332.00
180.00
79512.00
2024
£
969.00
£
£5,575.75
Fixtures &
equipment		 Total
£
3458839.00
101286.00
3560125.00
2023
£
969.00
£
£4,912.83

4. Transactions with Trustees There were no transactions with Trustees during the year.

5.
Amounts held by the Central Church
Balance of proceeds from disposal of manse
Interest earned
Amounts paid to the Central Church
Breakdown & Calculation of the total remittances to Central Funds
Ordinary Income
Ministry Levy
Administration & Training Levy
Fixed Allowance
Mission Levy & Mission Fund
Total Remittance Due
Total Remittance Submitted
6.
Grants Received
Church Refurbishment		 -
-
-
49,122.68
33,240.00
5,004.00
23,000.00
0.00
38,244.00
38,300.00
0.00
0.00		 -
-
51,428.48
31,450.00
4,800.00
23,000.00
0.00
36,250.00
36,300.00
20333.00
20333.00

Page 8

Park Free Church of Scotland

Notes to the Receipts and Payments Accounts

For the year ended 31 December 2024

7. Unrestricted funds
General Fund
Funds Held at Central Office
Total
Total
Designated funds
Benevolent Fund		 Balance at
01.01.24
£
23873.34
969.00
24842.34
1000.00
1000.00		 Incoming
resources
£
49122.68
49122.68
0.00
0.00		 Resources
expended
£
47194.21
47194.21
0.00
0.00		 Transfers
£
-3636.00
-3636.00
0.00		 Balance at
31.12.24
£
22165.81
969.00
23134.81
1000.00
1000.00

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 Fund represents money set aside by the trustees for a particular purpose.

8.
Fabric Fund
Projects Fund
Special Appeals
Magazines
Total
Mission Fund
Mid-week special collection
9.
Agency Collections
Restricted funds
Communion Expenses Appeal		 Balance at
01.01.24
£
5514.61
46531.60
186.94
0.00
186.94
0.00
0.00		 Incoming
resources
£
14866.04
2250.00
110.00
525.00
635.00
260.00
10019.50		 Resources
expended
£
13230.28
0.00
265.63
974.00
1239.63
260.00
10019.50		 Transfers
£
3187.00
0.00
0.00
449.00
3636.00
0.00
0.00		 Balance at
31.12.24
£
10337.37
48781.60
31.31
0.00
31.31
0.00
0.00

Explanation of Funds

Fabric Fund - Represents money received specifically for the Fabric Fund

Mid-week special collections - Special collections are taken throughout the year to assist with Mission work and other worthy causes, whose aims are sympathetic to the objectives of the congregation.

Magazines - Collections on receipt to cover the costs of church magazines

Communion Expenses - Retiring collection taken to cover expenses

Agency Collections/Appeals - Special collections are taken to raise funds for a number of causes, individuals and organisations whose aims are sympathetic to the objectives of the congregation.

Page 9