REGISTERED CHARITY NUMBER: SC038275
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2024
for
Hope Church Coatbridge Free Church of Scotland
Brett Nicholls Associates Herbert House
24 Herbert Street Glasgow G20 6NB
Hope Church Coatbridge Free Church of Scotland
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 16 |
Hope Church Coatbridge Free Church of Scotland
Reference and Administrative Details for the Year Ended 31 December 2024
REGISTERED CHARITY NUMBER
SC038275
INDEPENDENT EXAMINER
BANKERS
Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB Bank of Scotland Main Street Coatbridge ML5 3EF
Page 1
Hope Church Coatbridge Free Church of Scotland
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their report with 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: 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Free Church of Scotland currently has over 100 congregations in Scotland, as well as 1 in London and 4 in North America, and sister Churches founded by mission work in India, Peru and South Africa. The Church also has a full-time seminary in the heart of Edinburgh for the training of Ministers and other Christian workers and sustains an extensive Missionary programme relative to the size of the church.
Dating from 1843 but with its roots in the Reformation, it 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.
Hope Church Coatbridge is a congregation of the national Free Church of Scotland working towards the common aims set out above. 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 congregation is authorised by the Church to have a minister paid from central funds of the Church. The Church building and the Minister's manse are the property of the congregation and are held under the Church's model trust deed.
The government of the Free Church of Scotland is Presbyterian and the congregation is within the Free Presbytery of Glasgow and Argyll.
Grantmaking
The congregation makes grants from its gift income to individuals and organisations whose aims are compatible with the congregation's objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, both Hope Church and the Church Plant at Christ Church Glasgow met regularly for worship and for prayer and other meeting, fellowship and outreach.
The congregation continued its commitment to support the national Free Church of Scotland both spiritually and financially.
Significant highlights, events and developments of note in the year include the following:
Attendances at worship services were stable in the year and there were several professions of faith, although with deaths and other removals the communicant membership reduced and numbered fifty- seven at 31 December 2024 (2023: sixty).
On 31 October 2024 Church of Scotland.
resigned as minister to take up a new role as Rural Missions Director for the Free
The Presbytery appointed Rev. Thomas Penman as Interim Moderator and the congregation is currently seeking a new minister.
Exploratory work also continued on the possibility of planting a new church in the Chapelhall area and our Community and Youth Worker has continued to work there, and in Coatbridge.
Christ Church Glasgow became a separate charity during 2023 and although Hope Church continued to support the work, the Christ Church Glasgow’s income and expenditure for 2024 is reported in its own accounts.
In financial terms our contributors responded well to requests for funds and financial commitments were met.
Page 2
Hope Church Coatbrfdge Frèe Clhurch of Scotland Report of the Trustees for the Year ended 31 Decértor 2024 FINANGiAL REWEW Re¥ults Th8 d)arity inwrrwj a of£18.480 lor the ar erKknI 31 DeizmLEI 2W241202& defKIl OF f32.W81. Princiwl fundlng sowr¢s The c£9[{>atIOn T1}$ i& fvJndKW by way ol wèthy,hYW offoriro£ and Gill Jid donat#. Dcrtqtiert frcffi chLJrth mkrs and adherents tria waoWylmrmlNy offry ar Gfft Ca$Was muth the 5wre as in 2023. Rèserves polky At 31 Decembw 24. reseTves stood at £93S,490 12076: Wfi.9701 with neOve £132,kn unrestr¢teO reserves being the result a of loan whith funded construction of 2n extenson I23 £1 Y2,8921. The rernwning funds cornprise £1.044,155 represening tre book value offixed assets I23". £1.039.608; £26.$41 ¥estiicted fiJnds12023.. £50,254) which ere held tor specific purposes set In Note . The Chariws pdK¥ Is to at knst trwee nKrths' costs, f( 2024 y8ar wudled £26,218, In free rese¥ve5. Ai 31 Derrt)er 2024. Charity h•Y 8 ger fvnLI in defKil Ihue weTe m free reserves 12023.. 13Z8921. The deficit prknarily baUSe ¢JF the loan to fund EKJiLdY irf the extts)sKA) ard Iransfu of fvnds to designat fixed assets fu. The Trustees are aware that Ihe posrtifft is t meet Ihe requirernent of the pdiGy bEry ap[A and wll condwe to seek Wa tograte STRUCTURe GOVERNANCE AND MANAGEMENT GtTrvernlng document thatity is Contr{Al by its &{thnt. a deed of bust atKI (xjnstl1@S an urNrMxxpofdted charity. Churth cckatbrid Free Church of Scand is estalli5 by CorKst1tut. The churth is 8 SccAlish Gharity (No. 5C0382751. The ne was iknnged IfLYrrety West Free Gkurth, C(Htbridgel with the a0¥al of Ihe rA)rKJregab"on, the constitLJIHJ) w ndj al OSCR aUthu1s on 5 Fetry2013. The is Presbyiertan in its day tr) day runriThJ is uTh1ertaken by Elders Ithe l<trk Session) and Deacons Ithe Ders, trtI. Deats). Crt'S funclion reL2tes to Ihe materia 2nd financi bu5ffiess of the coryrega0L, whereas Eldef5 th8[ vAh the ¥IritU ovetsiW of cwJreg8tions. It is accepted praG11 for he MinkstT and Elders to also be rneErkners of DeaExm. crt. UThger the tk3(DTrs' Crt a[ dÉÈnM7d to be ts Trust&s the Coruwattcfft.1Th6 is disbrLI from ts rde of CXXVJf0JatKJn trustees ¥e¥Dnsble only for hdd property in trusti. Re¢fultwrpnl and apIntment of rbewlnJste•¥ The Krk 5tssiM ex£IseS its disttets"(m in ¢ktemimng m.%l ar¢(yith cf el new Trustees lEe[S and D8aconsl. Any eleclKJn pro.55 must invclve Ihe rnerrtYr5hry) of the ccrfvjtyti(. The is fixed leftn for Tru51eethp. F¥irJr to trr apw'nlment. new TnJsts W11 ha the thurch ts nÈ timè in v109 roles 8nd I1 be f3mlllar with thrchs vUeS. ts ams (bive$ 11 as ts dalTrday (Wati(S. As of Iheir inOuctN programme, rwi TrUStS are repuir 10 Vtthsrand "r StrlOry wd18s irti resporkg.bilily as eld or Key management remuneratlon The &lurd) Is rnanaged tsy lo day ba%s by its Tntslees ,'Bdets Deac¥)s). e ¥dunte£ts trtlr Irr fredy 10 dMJtGh. Rlsk mJna9ewnent Th8 Tru5trS a&strss Ihe Mai r15ks to Ihe L8 e)yosed on an basls and have estsNished PTIKedures to milb3Ble tk6e e as ¥ re
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Independent Examiner's Report to the Trustees of Hope Church Coatbridge Free Church of Scotland
I report on the accounts for the year ended 31 December 2024 set out on pages five to sixteen.
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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) 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 the independent examiner's report
My examination 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 those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any 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 examiner's statement
In connection with 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 to comply with Regulation 8 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.
Fellow of the Association of Chartered Certified Accountants Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB
Date: .............................................
Page 4
Hope Church Coatbridge Free Church of Scotland
Statement of Financial Activities for the Year Ended 31 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 73,438 Investment income 4 - Other income 5 - Total 73,438 EXPENDITURE ON Charitable activities 6 Church and Community Activities 83,381 Other 9 - Total 83,381 NET INCOME/(EXPENDITURE) (9,943) Transfers between funds 19 15,176 Net movement in funds 5,233 RECONCILIATION OF FUNDS Total funds brought forward 906,716 TOTAL FUNDS CARRIED FORWARD 911,949 |
Restricted funds £ 29,019 378 1 29,398 21,491 16,444 37,935 (8,537) (15,176) (23,713) 50,254 26,541 |
2024 Total funds £ 102,457 378 1 102,836 104,872 16,444 121,316 (18,480) - (18,480) 956,970 938,490 |
2023 Total funds £ 221,053 474 - 221,527 188,719 - 188,719 32,808 - 32,808 924,162 956,970 |
|---|---|---|---|
CONTINUING OPERATIONS
This statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities in both years.
Comparative figures for the previous year by fund type are shown in Note 12.
The notes on pages 7 to 16 form part of these financial statements.
Page 5
HO Chwch Coatbrldge Free Church of S¢otland Baan Sheet 310e¢èrnber 2024 2024 2023 HXEDA85grs TangilJ8 855ets CURRENT ASSETS D£4Jtors C38h * b8nk 13 11>44,155 1.039.608 14 4,917 7,205 52,812 26,541 60,017 CREDITORS Ath)unts falliThJ due vJ6thwk year 15 117,9761 120,2351 NEf CURRENT ASSETS 39,782 TOTAL ASSETS LESS CURRE1 LIABILrrES 1.OS2.720 1,079.390 CREDITORS Amunls fJikng du8 aft¥ fre Ih8n year 16 (1142301 1122.4201 NET ASSETS 938,490 FUNDS UnrostricW fl1.. Geneial fund Oe5ignated Fd Asset Fund 19 1132.206) 1132.8921 1 Lf19,606 911,949 Restricted nts 26.541 50,254 TOTAL FUNDS 938.490 956.970 The finanaal 5t81?ments W8rÈ 8prmvaJ by ttE Crxmt aNI auttxxtsaj br ... ... ard w&r& tsn brA*1 by. The rK)tp5 m P89es 7 to 16 fomi part ol these finsnGial 5totetrth5. Pa6
Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements for the Year Ended 31 December 2024
1. GENERAL INFORMATION
Hope Church Coatbridge ("the charity") is a Scottish charitable unincorporated association. The Church is governed by a Unitary Constitution and is subject to the Acts & Regulations of the Scottish Assembly of the Church of Scotland. It was registered as a charity in Scotland (registered number SC038275) on 29 May 2007. Its registered address is
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements are prepared on an accruals basis, and on a going concern basis, in accordance with:
-
the Charities and Trustee Investment (Scotland) Act 2005;
-
Regulation 8 (Statement of account - Fully accrued accounts) of The Charities Accounts (Scotland) Regulations 2006;
-
the Financial Reporting Standard applicable in the UK and Republic of Ireland, published in March 2018 ("FRS 102"), to the extent that it applies to small entities and public benefit entities;
-
'Accounting 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, published in October 2019 (FRS 102)' ("the Charities SORP");
-
UK Generally Accepted Accounting Practice; and
-
the historical cost convention.
The charity meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy.
The financial statements are presented in UK sterling, which is the charity's functional currency, and rounded to the nearest pound.
There have been no changes to the basis of preparation this financial year or to the previous financial year's financial statements.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The charity has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
2. ACCOUNTING POLICIES - continued
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that 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.
Tangible fixed assets
All fixed assets are initially recorded at cost where the cost is £500 or more.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment -20% on cost
Fixtures and fittings -20% on cost
No depreciation is charged in the year of acquisition.
No depreciation has been charged on any of the heritable properties as the long remaining life and high residual value make such an amount immaterial.
Taxation
Hope Church Coatbridge is a charity within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes 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 nature and purpose of each fund is included in the notes to the financial statements.
Going concern
The Trustees considered the charity is a going concern and prepared accounts on this basis despite a negative general fund at the year end. Although the Charity incurred a deficit in the year to 31st December 2024, it expects to generate net surpluses in future years. The negative general fund represents a loan provided to the Charity by FCOS for the building of the extension and the Trustees are confident that the charity will be able to meet its day to day liabilities from current donations and FCOS support.
3. DONATIONS AND LEGACIES
| Unrestricted Restricted funds funds £ £ Donations 3,364 - Gift aid 14,459 4,644 Grants - 2,750 Envelopes, S/Os and Collection 55,484 21,625 Other Income 131 - CCG Income - - 73,438 29,019 |
2024 Total funds £ 3,364 19,103 2,750 77,109 131 - 102,457 |
2023 Total funds £ 23,418 20,800 22,750 84,993 40 69,052 |
|---|---|---|
| 221,053 |
Included within the above donations and legacies income is donated income relating to the CCG project. This figure can be analysed as follows:
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
3. DONATIONS AND LEGACIES - continued
| Donations Gift Aid Envelopes S/Os and Collection Grant - Lookout Mountain Grant - FCOS |
2024 £ - - - - - - |
2023 £ 2,500 9,196 42,865 9,241 5,250 |
|---|---|---|
| 69,052 |
The Congregation of Christ Church Glasgow known as Christ Church Glasgow, became a separate charity during 2023 (Charity number SC052767) and although Hope Church continued to support the work, the Christ Church Glasgow’s income and expenditure for 2024 is reported in its own accounts.
Grants received, included in the above, are as follows:
| Ferguson Bequest Fund Free Church of Scotland The Baird Trust Agricola Trust |
2024 £ - 2,750 - - 2,750 |
2023 £ 5,000 5,250 5,000 7,500 |
|---|---|---|
| 22,750 |
4. INVESTMENT INCOME
| 4. | INVESTMENT INCOME | ||||
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| Deposit account interest | - | 378 | 378 | 474 | |
| 5. | OTHER INCOME | ||||
| 2024 | 2023 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| Gain on sale of tangible fixed assets | - | 1 | 1 | - |
Other income represents the sale of an old, fully depreciated laptop.
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. CHARITABLE ACTIVITIES COSTS
| Direct Support Costs (see costs (see note 7) note 8) £ £ Church and Community Activities 97,154 7,718 7. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 £ Staff costs 23,188 Insurance 2,073 Telephone 415 Office Costs 723 FCOS Central Fund Contribution 45,482 Council Tax 2,398 Manse - Heat & Light 3,016 Mileage 458 Minister Travel & Expenses 1,952 Presbytery Dues 1,401 Repairs & Maintenance 774 Manse - Repairs & Maintenance 405 Manse - Telephone & Internet 362 Benevolent - Books & Magazines 817 Charitable Donations - Clubs, Groups & Projects 3,634 Outreach 969 Preaching Fees 960 Website & Advertising 539 Admin Fees 475 Heat and Light- Church 5,123 Software & IT 539 Subscriptions 163 CCG Expenses - New Build Costs 577 Depreciation 711 97,154 |
Totals £ 104,872 2023 £ 12,530 1,155 387 714 46,115 2,338 3,204 264 307 737 1,048 600 283 636 1,105 1,295 7,218 2,071 579 333 272 5,288 538 157 87,119 5,867 - 182,160 |
|---|---|
Included within the above charitable activities costs is expenditure relating to the CCG project. This expenditure can be analysed as follows:
| Staff Costs Church Expenses Council tax and Utilities Minister Expenses Rent Donations Presbytery Dues FCOS Central Fund Contribution |
2024 £ - - - - - - - - - |
2023 £ 29,546 1,869 1,978 3,106 4,656 6,278 738 38,948 87,119 |
|---|---|---|
Christ Church Glasgow became a separate charity during 2023 (charity number SC052767) and although Hope Church continued to support the work, the Christ Church Glasgow’s income and expenditure for 2024 is reported in its own accounts.
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
8. SUPPORT COSTS
9.
| Accountancy (Independent examination fee) Loan interest OTHER Unrestricted Restricted funds funds £ £ Transfer to Separated Charity - 16,444 |
2024 £ 1,200 6,518 7,718 2024 Total funds £ 16,444 |
2023 £ 900 5,659 6,559 2023 Total funds £ - |
|---|---|---|
The above represents transfer of balance due to Christ Church Glasgow, charity number SC052767.
10. TRUSTEES' REMUNERATION AND BENEFITS
All Free Church of Scotland congregations with a minister are expected to contribute to the Sustentation Fund of the denomination the full costs of ministry, including stipend, NIC, pension and an administration levy unless they have authority from the Home Missions Board to remit a lesser amount. All ministers in charges are paid from the central funds of the Church. In the year under review the stipend was £27,580. The minister up to 31 October 2024 was Rev. who was a trustee.
Trustees' expenses
During the year three trustees (2023: four) received reimbursement of expenses totalling £3,467 (2023: £6,291). This amount includes travel expenses and running costs of the manse paid on behalf of the minister.
In addition to thi eceived a leaving gift of £1,600, which was funded by donations received with regards to his departure. There were additional costs of £230 incurred with regards to Minister's departure.
11. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Ministers in Training Cleaner Community worker |
2024 1 1 1 3 |
2023 1 2 1 4 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 80,346 Investment income - Total 80,346 EXPENDITURE ON Charitable activities Church and Community Activities 83,509 NET INCOME/(EXPENDITURE) (3,163) Transfers between funds 175,609 Net movement in funds 172,446 RECONCILIATION OF FUNDS Total funds brought forward 734,270 TOTAL FUNDS CARRIED FORWARD 906,716 13. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1 January 2024 1,036,051 6,262 Additions 5,258 - Disposals - - At 31 December 2024 1,041,309 6,262 DEPRECIATION At 1 January 2024 - 2,705 Charge for year - 711 Eliminated on disposal - - At 31 December 2024 - 3,416 NET BOOK VALUE At 31 December 2024 1,041,309 2,846 At 31 December 2023 1,036,051 3,557 |
Restricted funds £ 140,707 474 141,181 105,210 35,971 (175,609) (139,638) 189,892 50,254 Computer equipment £ 1,586 - (500) 1,086 1,586 - (500) 1,086 - - |
Total funds £ 221,053 474 221,527 188,719 32,808 - 32,808 924,162 956,970 Totals £ 1,043,899 5,258 (500) 1,048,657 4,291 711 (500) 4,502 1,044,155 1,039,608 |
Total funds £ 221,053 474 |
|---|---|---|---|
| 221,527 | |||
| 188,719 | |||
| 32,808 - |
|||
| 32,808 924,162 |
|||
| 956,970 |
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors - Gift Aid Prepayments 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors Other creditors 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: FCOS loan Amounts falling due between two and five years: FCOS loan - 2-5 years Amounts falling due in more than five years: Repayable by instalments: FCOS loan more 5 yr by instal 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted funds funds £ £ Fixed assets 1,044,155 - Current assets - 26,541 Current liabilities (17,976) - Long term liabilities (114,230) - 911,949 26,541 |
2024 £ 4,917 - 4,917 2024 £ 14,708 1,565 1,703 17,976 2024 £ 114,230 2024 £ 14,708 58,830 55,400 2024 Total funds £ 1,044,155 26,541 (17,976) (114,230) 938,490 |
2023 £ 3,954 3,251 7,205 2023 £ 14,708 4,498 1,029 20,235 2023 £ 122,420 2023 £ 14,708 58,830 63,590 2023 Total funds £ 1,039,608 60,017 (20,235) (122,420) 956,970 |
|---|---|---|
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued
Comparatives for analysis of net assets between funds
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Fixed assets | 1,039,608 | - | 1,039,608 | 727,746 |
| Current assets | 9,763 | 50,254 | 60,017 | 200,844 |
| Current liabilities | (20,235) | - | (20,235) | (4,428) |
| Long term liabilities | (122,420) | - | (122,420) | - |
| 906,716 | 50,254 | 956,970 | 924,162 | |
| MOVEMENT IN FUNDS | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 1/1/24 | in funds |
funds | 31/12/24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | (132,892) | (9,232) | 9,918 | (132,206) |
| Designated Fixed Asset Fund | 1,039,608 | (711) | 5,258 | 1,044,155 |
| 906,716 | (9,943) | 15,176 | 911,949 | |
| Restricted funds | ||||
| Christ Church Glasgow | 16,894 | (16,444) | (450) | - |
| Building Fund | - | 23,856 | (23,856) | - |
| Mission Fund | 33,360 | (15,949) | 9,130 | 26,541 |
| 50,254 | (8,537) | (15,176) | 26,541 | |
| TOTAL FUNDS | 956,970 | (18,480) | - | 938,490 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 73,438 | (82,670) | (9,232) | |
| Designated Fixed Asset Fund | - | (711) | (711) | |
| 73,438 | (83,381) | (9,943) | ||
| Restricted funds | ||||
| Christ Church Glasgow | - | (16,444) | (16,444) | |
| Building Fund | 24,164 | (308) | 23,856 | |
| Mission Fund | 2,484 | (18,433) | (15,949) | |
| FCOS Fund | 2,750 | (2,750) | - | |
| 29,398 | (37,935) | (8,537) | ||
| TOTAL FUNDS | 102,836 | (121,316) | (18,480) |
19. MOVEMENT IN FUNDS
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated Fixed Asset Fund Restricted funds Christ Church Glasgow Building Fund Mission Fund TOTAL FUNDS |
Net movement At 1/1/23 in funds £ £ 6,524 (3,163) 727,746 - 734,270 (3,163) 35,390 (18,496) 102,728 58,720 51,774 (4,253) 189,892 35,971 924,162 32,808 |
Transfers between At funds 31/12/23 £ £ (136,253) (132,892) 311,862 1,039,608 175,609 906,716 - 16,894 (161,448) - (14,161) 33,360 (175,609) 50,254 - 956,970 |
|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Christ Church Glasgow Building Fund Mission Fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 80,346 (83,509) (3,163) 69,052 (87,548) (18,496) 70,246 (11,526) 58,720 1,883 (6,136) (4,253) 141,181 (105,210) 35,971 221,527 (188,719) 32,808 |
|---|---|
20. RELATED PARTY DISCLOSURES
With the exception of the disclosures made under note 10 there were no related party transactions for the year ended 31 December 2024.
21. PURPOSE OF UNRESTRICTED FUNDS
General Fund - The unrestricted, 'free reserves' of the charity
Designated Fixed Asset Fund - represents the net book value of the charity's tangible fixed assets.
Designated Benevolent Fund- A fund available for use of the Minister's discretion to help those in need.
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Hope Church Coatbridge Free Church of Scotland
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
22. PURPOSE OF RESTRICTED FUNDS
Mission Projects Fund - This fund is for specific mission projects that the congregation is supporting, and has been used to support individuals working locally and overseas. It is now to be used on the congregation's Church Planting project in the Chapelhall area.
Building Fund - includes the money set aside by the Deacon's court for the fabric of its buildings and specific donations for the extension to the church building.
Christ Church Glasgow - A fund to support the Church Plant at Christ Church Glasgow.
FCOS Fund - restricted funding received to support minister in training cost.
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