**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 T￿1}￿$ i& fvJndKW by way ol wèthy,hYW offoriro£ and Gill Jid donat￿#. Dcrtqtiert frcffi chLJrth mkrs and adherents tria waoWylmrmlNy offry ar￿ Gfft ￿C￿a￿$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 I￿23 £1 Y2,8921. The rernwning funds cornprise £1.044,155 represening tre book value offixed assets I2￿3". £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 De￿rrt)er 2024. Charity h•Y 8 g￿er￿ fvnLI in defKil Ihue weTe m free reserves 12023.. 13Z8921. The deficit ￿ prknarily b￿aUSe ¢JF the loan to fund EKJiLd￿Y 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￿ tog￿rate STRUCTURe GOVERNANCE AND MANAGEMENT GtTrvernlng document thatity is Contr{Al￿ by its &{thn￿t. a deed of bust atKI (xjnstl￿1@S an urNrMxxpofdted charity. Churth cckatbrid￿ Free Church of Sc￿and is estalli5￿ by CorKst1tut￿. The churth is 8 SccAlish Gharity (No. 5C0382751. The n￿e was iknnged IfLYrrety West Free Gkurth, C(Htbridgel with the a￿0¥al of Ihe rA)rKJregab"on, the constitLJIHJ) w ￿nd￿j al￿ OSCR aUthu1s￿ on 5 Fet￿ry2013. The is Presbyiertan in its day tr) day runriThJ is uTh1ertaken by ￿ Elders Ithe lrovd by cfderofthe De￿iS Ctyjrt ￿...................... ...... atjy sigied eA) ib btha￿ by.. ## **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 Ba￿an￿ 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¥ fr￿e Ih8n year 16 (1142301 1122.4201 NET ASSETS 938,490 FUNDS UnrostricW fl￿￿1.. Geneial fund Oe5ignated F￿d 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. Pa￿6 **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. Page 7 continued... **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: Page 8 continued... **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. Page 9 continued... ## **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. Page 10 continued... **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. Page 11 continued... ## **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| Page 12 continued... **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| |---|---|---| Page 13 continued... **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** Page 14 continued... **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. Page 15 continued... **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. Page 16