Charity registration number SC038936 (Scotland)
CITY CHURCH DUNDEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CITY CHURCH DUNDEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number (Scotland) SC038936 Principal address The Friary 8-12 Tullideph Road Dundee DD2 2PN Independent examiner Alexander Sloan LLP Accountants and Business Advisers 180 St Vincent Street Glasgow G2 5SG Bankers The Co-operative Bank Plc PO Box 250 Skelmersdale WN8 6WT
CITY CHURCH DUNDEE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 23 |
CITY CHURCH DUNDEE
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The objectives of the church are to advance Christianity in Scotland and elsewhere by any means or medium that is or may become available in accordance and in furtherance thereof but not otherwise:-
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To relieve poverty and those who are in need because of sickness or age or some other reason;
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To advance education both general and vocational for children or adults but always within the principles of the Christian faith;
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To promote such other similar charitable objects as the Trustees shall from time to time consider appropriate.
Achievements and performance
Significant highlights, events and developments of note in the year include the following: -
In relation to activities :
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During 2024 the church has continued to meet every Sunday and regularly through the week, with in excess of 130 attendees (inc. children) at the Friary. Geographic Community Hubs meet in person twice monthly (officially). Our usual rolling programme of Small Groups run on a termly basis, offering a wide range of activities, many of which are open to members of the community , have been well attended this year.
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Major preaching series in 2024 included a series on the book of Romans and a series titled “Together on a Mission” encouraging the church to be outward looking. We also had a number of preaches on one-off topics
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The volume of use of the building remained steady, although part of the facility remained closed due to the central heating breaking down beyond repair.
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Staffing numbers reduced as a fixed term role to oversee the building work was not extended and the CAP centre was closed, with the manager’s post being lost.
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We continued to partner with other faith and statutory organisations as part of the Dundee Community Food Network.
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The community larder and café for the local community continued to grow and served members of the local community. We partnered with the Pensioners Forum to host their “West End Blethers” group within the café. 30-40 pensioners come each week. We also partnered with the Dundee Carers Centre to host their local carers network and developed relationships with several university of third age groups.
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We continued fundraising for and are nearing the start of phase 2 of the building upgrade. This work will improve the fire safety of the site and public facilities.
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Solar panels were installed on the Friary building capable of producing 37.8 kW along with battery storage.
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We supported new community groups, to help the local community recover from some of the effects of the pandemic, such as social isolation.
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CITY CHURCH DUNDEE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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We have maintained support for existing local groups, including Alcoholics Anonymous, Narcotics Anonymous, Police Scotland Youth Volunteers, and various exercise classes for all ages.
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The church has continued to work collaboratively with other Newfrontiers churches across the UK. City Church Dundee leaders and members have also attended various conferences and events at Kings Arms church in Bedford.
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We have continued to support Barnabas Christian Bookshop, a local independent christian bookshop, through hosting them within the friary
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We also partnered with Scripture Union Scotland (SU) to host the regional office for 2 of the SU staff.
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Recovery at the Friary, a partnership project between City Church, The Reconnection Project, and Crossreach, has continued to meet at the Friary site. It is focussed on supporting those wanting to recover from addictions through a programme of training in practical skills such as gardening and DIY, offering art and craft opportunities in an environment of mutual support. It runs 2 days/week from 10am-4pm and is receiving referrals from statutory bodies as well as by word of mouth. It is well supported by a team of volunteers with helpful and supportive skillsets.
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We supported international ministry through cooperation with the Catalyst Network of churches and by direct support for Pete and Jo West in Maseru, Lesotho.
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In partnership with the RSPB we are planning developments of an urban nature sanctuary in the grounds of the Friary
In relation to funding :
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Continued participation by church members in giving to the church and participating in the Gift Aid Scheme to maximise their giving impact.
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Income from the letting of the church hall has continued and has re-covered to pre-COVID levels.
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Significant income was received from external grant-awarding bodies.
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Office space within the building continues to be leased to a variety of people and groups, in some cases for rent, and some offering payment in kind.
Financial review
Results for the year
Per the Statement of Financial Activities, the church reported Net Income (i.e. a Surplus) for the year of £52,961 (2023 Deficit £23,638) and total funds of £245,186 at 31 December 2024 (2023 £192,225).
Reserves policy
It is the policy of the church to maintain unrestricted funds, i.e. funds not committed or invested in fixed assets, at a level equal to approximately three months of unrestricted expenditure and thereby maintain the church’s ongoing work. Based on total expenditure of £78,706 within the General Fund for the year ended 31 December 2024, the policy would require the church to have closing reserves at 31 December 2024 of approximately £19,676. This allows sufficient funds to maintain the ongoing work of the church.
The Unrestricted Funds of the charity total £197,693. Of this £78,931 is tied up on designated assets (£445,924) and the assocated mortgage liability (£366,993). This results in a remaining free reserves of £118,762 which is above the required level.
Principal funding sources
The church receives the majority of funding from church members and attendees by way of weekly offerings and Gift Aid donations.
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CITY CHURCH DUNDEE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Grant Making Policy
The church makes grants from its tithes and offerings to individuals and organisations that are generally known to the Trustees and the church. The beneficiaries are involved in activities or ministries compatible with the church’s objectives.
Structure, governance and management
City Church Dundee (“the church”) is established by Trust Deed and is part of Newfrontiers, a worldwide family of churches together on a mission, with over 1500 churches in over 70 nations around the world.
The church is a Scottish Charity (No. SC038936) and was granted charitable status on 14 November 2007.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Recruitment and appointment of trustees
New Trustees are nominated for appointment by the existing Trustees. The Trustees are appointed for a period of two years and may only continue for a further term of two years if the further period is approved by a majority of the Trustees in writing. Prior to their appointment, new Trustees would have served the church for some time in various roles and would be familiar with the church’s values, its aims and objectives as well as its day-to-day operations. As part of their induction programme, new Trustees are required to understand their statutory responsibilities.
Organisational structure
Staff Team Pastoral Staff Team Worship Leader Admin Finance P.A. to Craig Stocks Project Manager Cleaner CAP Ofice
Independent examiner
, a Partner with Alexander Sloan LLP, Accountants and
The Trustees recommend that Business Advisers, remains in office as Independent Examiner until further notice.
The Trustees' report was approved by the Board of Trustees.
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7/8/2025
Date: .............................................
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CITY CHURCH DUNDEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY CHURCH DUNDEE
I report on the financial statements of the charity for the year ended 31 December 2024, which are set out on pages 5 to 23.
Respective responsibilities of Trustees and examiner
The charity's Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity Trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the 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 financial statements.
Independent examiner's statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
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to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
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have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Alexander Sloan LLP Accountants and Business Advisers 180 St Vincent Street Glasgow G2 5SG 11/8/2025 Date: ............................
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CITY CHURCH DUNDEE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Current financial year Unrestricted funds general Unrestricted funds designated Restricted funds 2024 2024 2024 Notes £ £ £ Income and endowments from: Donations and legacies 3 160,637 - 6,341 Charitable activities 4 50,908 - 116,880 Investments 5 900 - - Other income 6 139 - - Total income 212,584 - 123,221 Expenditure on: Charitable activities 7 78,706 151,261 53,377 Total expenditure 78,706 151,261 53,377 Net income/(expenditure) 133,878 (151,261) 69,844 Transfers between funds (87,434) 136,441 (48,507) Net movement in funds 11 46,444 (14,820) 21,337 Reconciliation of funds: Fund balances at 1 January 2024 (155,182) 321,251 26,156 Fund balances at 31 December 2024 (108,738) 306,431 47,493 |
Total 2024 £ 166,978 167,788 900 139 335,805 283,344 283,344 52,461 500 52,961 192,225 245,186 |
Total 2023 £ 229,778 65,620 260 - 295,658 320,896 320,896 (25,238) 1,600 (23,638) 215,863 192,225 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 23 form an integral part of these financial statements.
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CITY CHURCH DUNDEE
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Prior financial Period Unrestricted funds general Unrestricted funds designated Restricted funds Notes 2023 £ 2023 £ 2023 £ Income and endowments from: Donations and legacies 3 193,326 - 36,452 Charitable activities 4 35,945 - 29,675 Investments 5 260 - - Total income 229,531 - 66,127 Expenditure on: Charitable activities 7 206,334 12,812 101,750 Total expenditure 206,334 12,812 101,750 Net income/(expenditure) 23,197 (12,812) (35,623) Transfers between funds 70,958 (70,000) 642 Net movement in funds 11 94,155 (82,812) (34,981) Reconciliation of funds: Fund balances at 1 January 2023 (249,337) 404,063 61,137 Fund balances at 31 December 2023 (155,182) 321,251 26,156 |
Total 2023 £ 229,778 65,620 260 295,658 320,896 320,896 (25,238) 1,600 (23,638) 215,863 192,225 |
|---|---|
The notes on pages 8 to 23 form an integral part of these financial statements.
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CITY CHURCH DUNDEE BALANCE SHEET ASA T31 DECEMBER 2024 2024 2023 Fixed assets Tangibl8 assèts 13 445,924 392,936 Current assets Dèbtors Cash at bank arwj in hartt 14 44,728 140,949 8,466 216.855 185.877 225.321 credOr$. amounts falllng due wlthln one year 15 167,988 164,$981 Net current assets 117.689 160.723 Total assets less current Ilablllll 5S3,613 553,659 Credltors.. amounts falllng due after more than one year 18 1318,4271 1361,4341 Net assets 245,186 192,225 The funds of the charlty Restrict InM• fiJrKI$ Unrestri¢1 funds- 9111 Unrostsictod funds- dasignat 47,493 1108,7381 .431 26,158 1155,1821 321,251 245,186 192.225 r85 on pag¢$ 8 to 23 part ofthose ffin)¢i•l statewents. 71Bf2025 The financial slalemenls '.ere approved by the Truslees on
CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
City Church Dundee is a registered Scottish Charity (No. SC038936). The church's office address is The Friary, 8-2 Tullideph Road, Dundee, DD2 2PN.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 2% straight line Building improvements 3.333% straight line Fixtures and fittings 20% straight line Computers 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
3 Income from donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 160,637 6,341 Donations and gifts Offerings and Donations 124,048 40 Income Tax on Gift Aid 25,563 300 Christians Against Poverty - 6,001 Other 11,026 - 160,637 6,341 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 166,978 193,326 36,452 135,114 165,312 21,650 25,863 28,014 - 6,001 - 14,802 - - - 166,978 193,326 36,452 |
Total 2023 £ 229,778 186,962 28,014 14,802 - 229,778 |
|---|---|---|
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
4 Income from charitable activities
| Charitable | Charitable | |
|---|---|---|
| activities | activities | |
| 2024 | 2023 | |
| £ | £ | |
| Grants and ministry income | 167,788 | 65,620 |
| Analysis by fund | ||
| Unrestricted funds - general | 50,908 | 35,945 |
| Restricted funds | 116,880 | 29,675 |
| 167,788 | 65,620 | |
| Grants and ministry income |
| Charitable | Charitable | |
|---|---|---|
| activities | activities | |
| 2024 | 2023 | |
| £ | £ | |
| Community Cafe & Larder income | 10,369 | 13,500 |
| Rental income | 25,868 | 20,112 |
| Weekend away and Events income | 3,241 | 6,783 |
| The National Lottery Community Fund | - | 10,000 |
| Building Fund | 85,310 | 9,000 |
| Benefact Trust | - | 4,225 |
| LCPP - Local Community Planning Partnership | 5,000 | 2,000 |
| Community Engagement | 38,000 | - |
| 167,788 | 65,620 |
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 900 | 260 |
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
6 Other income
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other income | 139 | - | |
| 7 | Expenditure on charitable activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 124,500 | 130,602 | |
| Depreciation and impairment | 12,586 | 10,340 | |
| Premises costs | 65,760 | 97,988 | |
| Running costs | 52,590 | 60,023 | |
| Motor and travel costs | 194 | 255 | |
| Legal and professional | 545 | 6,430 | |
| Interest and finance charges | 16,247 | 2,472 | |
| Governance costs | 4,172 | 6,664 | |
| 276,594 | 314,774 | ||
| Grant funding of activities (see note 8) | 6,750 | 6,122 | |
| 283,344 | 320,896 | ||
| Analysis by fund | |||
| Unrestricted funds - general | 78,706 | 206,334 | |
| Unrestricted funds - designated | 151,261 | 12,812 | |
| Restricted funds | 53,377 | 101,750 | |
| 283,344 | 320,896 |
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
8 Grants payable
| Grants to institutions: Dundee Debt Centre Wendy Mann Equip Catalyst Network City on a Hill Dundee Crisis Pregnancy Trust Steeple Church River of Life Church Maseru, Lesotho Wildfire Ministries Hillbank Church Scripture Union Lifegate Church Grants to individuals |
2024 £ 500 600 600 600 600 600 - - - 600 600 4,700 2,050 6,750 |
2023 £ 1,600 - - - - - 1,500 500 1,022 500 - |
|---|---|---|
| 5,122 1,000 |
||
| 6,122 |
9 Trustees
The Trustees received no remuneration during the year in their capacity as Trustees. Details of salary paid to , Trustee, in his capacity as Pastor are disclosed in Note 10 on page 15. was reimbursed £231 (2023 - £238) for motor and travelling expenses, £126 (2023 - £76) for telephone and £241 (2023 - £343) for other expenses.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employees
The average monthly number of employees during the year was:
Employment costs Wages and salaries Social security costs Other pension costs |
2024 Number 8 2024 £ 114,993 1,829 7,678 124,500 |
2023 Number 9 2023 £ 121,351 1,301 7,950 |
|---|---|---|
| 130,602 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel during the year, including wages and salaries and employer's contributions to national insurance and pensions, was £32,820 (2023 - £31,580).
11 Net income/(expenditure) for the year
| Net income/(expenditure) for the year | ||
|---|---|---|
| 2024 | 2023 | |
| Operating for the year is stated after charging: | £ | £ |
| Fees payable for independent examination of accounts | 4,172 | 6,664 |
| Depreciation of owned tangible fixed assets | 12,586 | 10,340 |
12 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 13 Tangible fixed assets Land and buildings Building improvements Fixtures and fittings £ £ £ Cost At 1 January 2024 517,020 - 21,701 Additions - 64,746 - Disposals - - - At 31 December 2024 517,020 64,746 21,701 Depreciation and impairment At 1 January 2024 124,084 - 21,701 Depreciation charged in the year 10,340 2,158 - Eliminated in respect of disposals - - - At 31 December 2024 134,424 2,158 21,701 Carrying amount At 31 December 2024 382,596 62,588 - At 31 December 2023 392,936 - - 14 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Notes Bank loans 16 Deferred income 17 Other creditors Accruals |
Computers £ 8,637 828 (4,301) 5,164 8,637 88 (4,301) 4,424 740 - 2024 £ 26,623 18,105 44,728 2024 £ 48,566 10,415 4,521 4,486 67,988 |
Total £ 547,358 65,574 (4,301) 608,631 154,422 12,586 (4,301) 162,707 445,924 392,936 2023 £ 8,466 - 8,466 2023 £ 48,373 - 9,839 6,386 64,598 |
|---|---|---|
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
16 Loans and overdrafts
| Bank loans Payable within one year Payable after one year |
2024 £ 366,993 48,566 318,427 |
2023 £ 409,807 |
|---|---|---|
| 48,373 361,434 |
The long-term loans are secured over the Friary building.
The Friary was purchased in 2012 with an interest free loan of £460,000 advanced by the Friars, The loan is repayable over 15 years.
During the year ended 31 December 2023, a new mortgage was taken out of £250,000. The loan was secured against the Friary. The loan is repayable over 30 years.
17 Deferred income
| 17 Deferred income |
||
|---|---|---|
| Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2024 Resources deferred in the year Deferred income at 31 December 2024 18 Creditors: amounts falling due after more than one year Notes Bank loans 16 |
2024 £ 10,415 2024 £ 10,415 - 10,415 10,415 2024 £ 318,427 |
2023 £ - |
| 2023 £ - |
||
| - - |
||
| - | ||
| 2023 £ 361,434 |
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 19 | Retirement benefit schemes | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Defined contribution schemes | £ | £ | |
| Charge to profit or loss in respect of defined contribution schemes | 7,678 | 7,950 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 Lesotho Fund Community Hall Fund Christians Against Poverty Fund Addiction Support Fund Community Café & larder Fund Community Engagement Fund The Building Fund Previous Period: At 1 The Friary Redevelopment Fund Lesotho Fund Lesotho Support and Relief Fund Community Hall Christians Against Poverty Addiction Support Fund Corra Fund Community Café & larder Fund |
January 2024 £ Incoming resources £ Resources expended £ Transfers £ At 31 December 2024 £ 2,007 - - - 2,007 10,000 5,040 (18,517) 3,477 - 5,219 6,201 (6,399) 500 5,521 5,680 - - (2,000) 3,680 3,250 2,170 (6,696) 1,276 - - 38,000 (1,715) - 36,285 - 71,810 (20,050) (51,760) - 26,156 123,221 (53,377) (48,507) 47,493 January 2023 Incoming resources Resources expended Transfers At 31 December 2023 £ £ £ £ £ 38,467 36,875 (76,384) 1,042 - 1,751 - - 256 2,007 256 - - (256) - - 10,000 - - 10,000 7,268 14,802 (18,451) 1,600 5,219 7,680 - - (2,000) 5,680 5,715 - (5,715) - - - 4,450 (1,200) - 3,250 61,137 66,127 (101,750) 642 26,156 |
|---|---|
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
20 Restricted funds
(Continued)
Friary Redevelopment Fund
Represents funds originally received from the Heritage Lottery Fund, Historic Scotland, Scotland's Churches Trust and the Listed Places of Worship Grant Scheme. Transfers of £1,042 from the General Fund (Unrestrictted) were to cover shortfalls in fund. This fund was fully expended as at 31 December 2023.
Lesotho Fund
Represents funds raised by the church to support the Newfrontiers ("Rehobothe") church in the district of Bothe-Burthe, Lesotho, (Africa) throught the interest of a church member who, as a Doctor, regularly works in a clinic in Lesotho. During the year ended 31 December 2023 the balance from the Lesotho Support and Relief Fund was transferred to the Lesotho Fund.
Lesotho Support and Relief Fund
The Fund was established during 2016 on the receipt of a bequest to finance support and relief needs identified by the Newfrontiers ("Rehobothe") church in the district of Bothe-Buthe, Lesotho (Africa). During the year the ended 31 December 2023 the balance £256 was transferred to the Lesotho Fund. The Fund was expended at 31 December 2023.
Community Hall Fund
Represents a grants received for improvement works to the Community Hall. The transfer of £3,477 represents funds from the Unrestricted General Fund to cover operating loss.
Christians Against Poverty Fund
Represents donations from individuals and local churches to support the start of the church's work in 2022 with Christians Against Poverty. Transfers of £500 represents donation received from City Church Dundee.
Addiction Support Fund
Represents funding received from Dundee City Council towards the staffing and overhead costs of the Addiction Support Service. Transfers of £2,000 to Unrestricted General Fund represents management fees due to City Church Dundee.
Corra Fund
Represents funding from the Corra Foundation to help create a workshop for woodwork and horticulture use. The Fund was fully expended at 31 December 2023.
Community Café and Larder Fund
Represents funding from Dundee Partnership towards the costs of food for the Community Café and Larder during the year. The transfer of £1,276 represents funds from the Unrestricted General Fund to cover operating loss.
Community Engagement Fund
Represents a grant received from the National Lottery, Community Fund to fund the employment costs of a Community Engagement worker within the Friary Community Hub. The Grant will be received over 3 years, this being the first of three payments
The Building Fund
Represents donations received from The Robert Barr Charitable Trust and Church collections and grants received from The Energy Savings Trust to fund the cost of new toilet, kitchen facilities and solar panels. The transfer of £51,760 represents funds transferred to the Designated Fund towards the purchase of the solar panels.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
21 Unrestricted funds - designated
These are the designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes:
| At 1 The Friary Loan Fund Designated Assets Fund The Building Fund The Defibrillator Fund Previous Period: At 1 The Friary Loan Fund Designated Assets Fund The Building Fund |
January 2024 £ Resources expended £ Transfers £ At 31 December 2024 £ 787 (40,000) 40,000 787 143,129 (12,587) 68,387 198,929 177,335 (98,674) 27,027 105,688 - - 1,027 1,027 321,251 (151,261) 136,441 306,431 Restated January 2023 Resources expended Transfers At 31 December 2023 £ £ £ £ 787 - - 787 403,276 (10,340) (249,807) 143,129 - (2,472) 179,807 177,335 404,063 (12,812) (70,000) 321,251 |
January 2024 £ Resources expended £ Transfers £ At 31 December 2024 £ 787 (40,000) 40,000 787 143,129 (12,587) 68,387 198,929 177,335 (98,674) 27,027 105,688 - - 1,027 1,027 321,251 (151,261) 136,441 306,431 Restated January 2023 Resources expended Transfers At 31 December 2023 £ £ £ £ 787 - - 787 403,276 (10,340) (249,807) 143,129 - (2,472) 179,807 177,335 404,063 (12,812) (70,000) 321,251 |
|---|---|---|
| 321,251 |
The Friary Loan Fund
Represents funds set aside (Income Tax on annual Gift Aid claim) to finance the annual loan repayment. Transfer of £40,000 represents funds from the Unrestricted General Fund to cover the Friary Loan payment.
The Designated Asset Fund
Represents tangible fixed assets held by the charity. Transfer of £68,387 during the year end 31 December 2024 represents (1) repayments of capital element of mortgage repayment (£2,813) and (2) purchase of fixed assets (£65,574).
The Building Fund
Represent funds set aside, including The Friary Mortgage - Kingdom Bank, to finance major repairs and maintence to the property. The Transfer of £27,027 from the Unrestricted General Fund represents donations received from the Church members and congregation towards building repairs.
The Defibrillator Fund
Represents funds raised by CCD Youth to purchase a defibrillator. The transfer of £1,027 represents (1) £347 funds previously held in the Unrestricted General Fund and (2) £680 received from a sponsored walk to raise funds for this project.
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
22 Unrestricted funds
These are the unrestricted funds to the charity
| At 1 January | Incoming | Resources | Transfers | At 31 | |
|---|---|---|---|---|---|
| 2024 | resources | expended | December | ||
| 2024 | |||||
| £ | £ | £ | £ | £ | |
| General funds | (155,182) | 212,584 | (78,706) | (87,434) | (108,738) |
| Restated | |||||
| Previous Period: | At 1 January | Incoming | Resources | Transfers | At 31 |
| 2023 | resources | expended | December | ||
| 2023 | |||||
| £ | £ | £ | £ | £ | |
| General funds | (249,337) | 229,531 | (206,334) | 70,958 | (155,182) |
| Analysis of net assets between | funds | ||||
| Unrestricted | Unrestricted | Restricted | Total | ||
| funds | funds | funds | |||
| general | designated | ||||
| 2024 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | ||
| At 31 December 2024: | |||||
| Tangible assets | - | 445,924 | - | 445,924 | |
| Current assets/(liabilities) | 209,689 | (139,493) | 47,493 | 117,689 | |
| Long term liabilities | (318,427) | - | - | (318,427) | |
| (108,738) | 306,431 | 47,493 | 245,186 | ||
| Unrestricted | Unrestricted | Restricted | Total | ||
| funds | funds | funds | |||
| general | designated | ||||
| 2023 | 2023 | 2023 | 2023 | ||
| £ | £ | £ | £ | ||
| At 31 December 2023: | |||||
| Tangible assets | - | 392,936 | - | 392,936 | |
| Current assets/(liabilities) | 206,252 | (71,685) | 26,156 | 160,723 | |
| Long term liabilities | (361,434) | - | - | (361,434) | |
| (155,182) | 321,251 | 26,156 | 192,225 |
23 Analysis of net assets between funds
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CITY CHURCH DUNDEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
24 Related party transactions
Anne Stocks, wife of Trustee, Craig Stocks, received a gross salary of £18,531 (2023 - £17,052) in her role as the church's Community Engagement Officer.
Trustee received an interest free loan in 2021 for £4,000, at 31st December 2024 £800 (2023 - £2,100) remains repayable to the Church.
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