**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:-
- To relieve poverty and those who are in need because of sickness or age or some other reason;
- To advance education both general and vocational for children or adults but always within the principles of the Christian faith;
- 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** :
- 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.
- 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
- 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.
- 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.
- We continued to partner with other faith and statutory organisations as part of the Dundee Community Food Network.
- 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.
- 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.
- Solar panels were installed on the Friary building capable of producing 37.8 kW along with battery storage.
- We supported new community groups, to help the local community recover from some of the effects of the pandemic, such as social isolation.
- 1 -
## **CITY CHURCH DUNDEE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
- We have maintained support for existing local groups, including Alcoholics Anonymous, Narcotics Anonymous, Police Scotland Youth Volunteers, and various exercise classes for all ages.
- 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.
- We have continued to support Barnabas Christian Bookshop, a local independent christian bookshop, through hosting them within the friary
- We also partnered with Scripture Union Scotland (SU) to host the regional office for 2 of the SU staff.
- 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.
- We supported international ministry through cooperation with the Catalyst Network of churches and by direct support for Pete and Jo West in Maseru, Lesotho.
- In partnership with the RSPB we are planning developments of an urban nature sanctuary in the grounds of the Friary
## In relation to **funding** :
- Continued participation by church members in giving to the church and participating in the Gift Aid Scheme to maximise their giving impact.
- Income from the letting of the church hall has continued and has re-covered to pre-COVID levels.
- Significant income was received from external grant-awarding bodies.
- 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.
- 2 -
## **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.
**----- Start of picture text -----**
7/8/2025
Date: .............................................
**----- End of picture text -----**
- 3 -
## **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
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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
- to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
- have not been met, or
2. 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: ............................
- 4 -
## **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.
- 5 -
## **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.
- 6 -
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.
- 8 -
## **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.
- 9 -
## **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.
- 10 -
## **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|
|---|---|---|
- 11 -
## **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|
- 12 -
## **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|
- 13 -
## **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.
- 14 -
## **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.
- 15 -
## **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|
|---|---|---|
||||
||||
||||
- 16 -
## **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|
- 17 -
## **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.
- 18 -
## **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|
|---|---|
- 19 -
## **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.
- 20 -
## **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.
- 21 -
## **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**
- 22 -
## **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.
- 23 -