Scottish Charity No.SC040583 "storehouse Trustees, Report and Financial Statements For the year ended 31 July 2024 |+P Innes & Partners Chartered Certified Accountants
The Storehouse CollteDts of the Financial St%¢emeDtsfor the year ended 31 July 2024 Page Report of the TTUStees Report of the Independent Examiner Receipts and Payments Account Statement of Balanc¢s Notes to the Financial Statem¢nts
The Storehouse Report of the Trusteesfur ihe year ended 31 July 2024 Thc Trustees are pleased to present their report together with the financial statements of the church for the year ended 31 July 2024. Sialus of Charlty and Governing DocumeNI Thc Storehouse is establish¢d by Constitution. The legal form of the church is a SCIO (Scottish Charitsble Incorporated Organisation) 8nd it is a registered Scottish Charity (No. SC040583). It is a two-tier organisaiion with Trustees and Members (known as Partners in the constitution). Prinelpal and registered address The Storehouse Church SA GaJTell Road Kilysth Glasgow G65 9JX Bonkers Virgin Money Sl)awlands Branch 21 Kilmarnock Road Glasgow G413YW Al und ajjllialion Th¢ aims of the church are as follows: The advancement of the Christian faith primarily in Kilsyth but also throughout Scoiland and further afield by all means consiscent with the teachings of the Christian Bible. This includes worship. ministry, mission, prayer, witness, education, community service and the supp)rt of agencies And individudls and other charitable organisalions involved in Christian missionary work or other activities that are in alignment with the objectives of 'The Storehouse" The reliel. of those in need by reason of age, ill health. disability. financial hardship or other disadvantage5. To support and help people and families who are affected by drug, alcohol or other d¢pend¢ncies. The provision of recreational facilities or Ihe organisalion of rectIonal activities with the object of improvin8 the Conditions of life for the p¢rsons for whom Ihc facilities or activities are primarily intended. The prevention and the relief of poverty. Tr¥slees and offlce bearers During this financial year, unfortunately due to various circumstances. the following Trustees stepped down from their position-. Robert Ross. David Moir & David Wightman. Names of the charity trustees on date of approval of Twslees. Annual Report: Harry 13ioi¥n Andrew Machray Daniel M¢Al¢¢r Julius Buameli Ryan Gomian l.iiiaiiLe ullic¢r Interim Chair Names of all other charity trustees during the period: Atr8 aded If not lorwholeyear .. Re5igi)eil Jaiiuary ?024 Resigned April 2024 Kesioned April 2U24 Robert Ross David Moir David Wiglitinaii Pag¢ I
The Storehouse Report of the Trusteesfor iheyear ended Jl July 2024 Appoinlmenl of Truslee Trustees are appointed from within the Members (Partners). Trustees are appointed by the Members at a Church meeting. Elected Trustees serve for a fixed period of three years. Retiring Trustees atr eligible for nomination for re-electiott. AetiviÉigs tsndachievements During this financial year (August 2023 -July 2024) we have remained part of the Go Global FaTnily of churches, as per lasi year the main purpose of this trnnsition is to access a potential source of experience. advice and experienced personnel to help pwtically. We continue to hold our Weekly Sunday Setvices, with Communion on the 2 and last Sunday of each month where approximately 40 people attend &nd have visiting and internal speakers who come lo speak aboui God's Love. and running along side the Sunday Service is our Sunday School (Jesus and Me) where the kids learn about our Lord. This is currently for ages l year to 15 years old. Prayer Meetings continue on a Wednesday afternoon and evenin8, Whe we pray for each oiher. the church and world wide missionaries and events. Again in 2023 w¢ had a large Christmas Programme throughout Ihe month of December 23. with Winter Wonderland on for l O days with approximately l 000 Adulis and Kids comin8 through our doors lo see the True Meaning of Christma& and an outing to Stirling for our Fellowship Lunoh. lrt conjunction with Friends of Kilsyth, we distributed over l 00 meals lo the K11sh and Villages families who were in need of some Christhias Dinner and gifts. F,ach Wednesday we continue to open our doors for the Storehouse Cafe caterinB for around 30-40 people each we¢k from the ¢ominunity- Ongoing we have our Pastoral Care Team. who visit the housebound and nursing homes, and pray for the sick. Friends of Kilsyth continued their activities from the Storehouse Church Building. Other groups usin8 the church facilities are th¢ StV4rlels, Unmasked Mentsl Health and Storetots Knitting Group. Again this year in November we supported the Rotary ' Wrap Up Lanakshire project and many coats were donal¢d for distribution to the Community, along with a School Unifom Day. Addlilonal Informalion The increase in gas and el¢ctri¢ity prices is a concern. We have a two ye8r fixed contract for 88s (stRrted May 2024) and a two y¢ar fixed contract for electricity. We expe¢t Costs to increase. To ¢ow¢r this we will need to increase our income. We are reviewing Ihe room hire charges for other users of the building and will concentrdle on reducing our energy usage where possible. Donaiedfacllliiu andservices No material donations of goods or servic¢s were received during the year. Page 2
The Storehouse Report of the Trn5teufor the year ended 31 July 2024 Resultsfor iheyear The Receipts and Payments Account on page 5 reflects a deficit for the year of £13,620 (2023.. sury)lus of £3,745) which was covered from the charity's reserves. The church held unrestricted general funds amounting to £42.486 (2023.. £57,533). designated funds of £1.791 (2023.. £1.487) and reslricted funds of £6,164 (2023: £5,041) at the year end. The total funds held at the year end were £50.441 (2023: £64,061). Reserve5 The Trustees aim to hold a 6-month reserve to cover all running expenses (rent, salaries, insurance, utilities. administration costs). The level of unrestricted reserves as of 31 July 2024 was £42,486 (2023.. £57.533) which is more than 500/• of lh¢ ¢xpenditure for 2023-2024 and so we are satisfied wilh the level of reseThe5. Approved by the Trustees and signed on th¢ir behalf on . 2025 by: Andrew Macbray Trwlee Page 3
The Storehouse Report of the Independent Examiner to the Trusteesfor theyear ended 31 July 2024 I report on the accounts of the ¢h]Jrch for the year ended 31 July 2024 which are set out on pages 5 to 9. Respective responsibilities of Trustees aDd eMIner The Charity's Tnjslees are responsible for the prepardtion of the accounis in accordance with the temis of the ChitIeS and Trnstee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulat?ons 2006 (as amendcd)- The Charity's Trnst¢es consider that the audit requirement of Regulation 10(1 ) (d) of the Accounts Regulations does not apply. 11 is my responsibiliry to examine the accounts as requiTed undcrseclion 44(1) (c) of the Act and to stale whetherparticular mat5 have come to my attention. Basis of independent examiner 8 Statement My examination 15 carried out in accordance with Regulaiion I l of the Charitics Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the Charity and a comparison of thc accounts presented wilh those records. It also includes consideration of any unusual items or disclosures in the account5, and secks explanaiions from the trnsiees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and onseqLMtly I do not express an Audit optnion on the view given by the accounts. Independent Exxmlner's Statement In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requiremcnts.. to keep accounting records in accordance with Section 44(L) (a) of the 2005 Act and R¢8ulttion 4 of the 2006 Accounts Regulations (as amended), and to prepare accounts which aLcord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations (as amended) have not been mel, or 2. to which. tn my opinion. attention should be drnwn in order to enable a proper und¢rstanding of the accounts to be reached. Jonathan N Inne5 FCCA Managing Director Innes & Partners Llmiled Chartered Ceffified Ac¢ount8nts Innes House 18 Shairps Business Park Houstoun Road Livingston EH54 5FD Date.. 2025 Page 4 l+P Innes & Partners Chanered Cenifled Accountants
The Storehouse Reeeipts and Payments Aceounlfor ihe year ended 31 July 2024 Notes Gener21 Designated Restricted fund fund runds 2024 Total 2023 Total Receipts Gift aid offerings Gift aid tax rlaiM Freewill offerings Donations Café Rental income Grant income Bank interest Other income 27,901 8.660 1.157 6.071 27,901 8,660 11,157 7,191 4,955 5232 9,100 887 326 28,781 9,803 8.860 7,288 3,528 4,172 9,500 284 69 312 808 4.955 5,232 9,100 887 326 Tot41 receipts yments Hire of premises Heat and light Insurance Repairs and renewals Administration, printing and other costs Provisions and refreshments Donations and grants Fellowship gifts Visiting speakers Worship l AV Winler Wonderland Community support Cleaning costs Café expenses Independent examination fee Totsl pAymen¢s (Deflelt) for the year before transfers Transfer between funds 60,234 312 14063 75,409 72,285 31,748 18,944 1,315 6,179 2,901 740 143 31,748 640 19,584 lJ15 9,633 3240 740 S40 31,748 14,603 1210 1,844 2,476 126S 7,035 376 2J63 3.456 339 5,280 117 3,711 120 2,470 3,711 120 3,139 3284 553 5,628 792 669 2,784 107 5.628 500 3,714 446 1,123 783 792 69,S09 (9275) (5,772) (15,047) 57,533 5,780 (5,468> 5,772 13,740 89,029 68,540 1,123 (13,620) 3.745 (Deficit) for tbe year after transfers Total funds brought forward Total fuDds carried forwxrd 304 1,123 (13,620) 5,041 64,061 3.745 60.316 1,487 42,486 1,791 6,164 50,441 64,061 Page 5
The Storehouse Statement of Balances as ai 31 July 2024 Notes 2024 2023 Opening (Deficit) Closing balance for year bftlonce Opening Surplus Cloglng balaDce for year balance Cash at bank and hand 64,061 (13.620) 50,441 64,061 (13,620) 50,441 60.316 3.745 64.061 Total CAsb b#lanee8 60,316 3,745 64,061 Represented by: Unrestricied fund Restricted funds 44.277 6,164 50,441 59,020 5.041 64,061 Ststement of assets At 31 Juty 2024 Currenl assets Gift aid r1[M du¢ 1,124 1,124 883 883 Ststement of liabilities At 31 Juty 2024 Independent examination fee 762 726 762 726 The financial stateTn¢nts on pages 5 to 9 were approved by the Trustees on s1cd ort their behalf by the undernoted: 2025 and Andrew Machray rrustee The notes on pa¥¢ 7 to 9 forni part of Ihese financial statements. Page 6
The Storehouse Notes to the Financial Slatementsfor theyear ended 31 July 2024 l. Aceountlng poliei Accounling convenilon The financial slatements have be¢n prepared under the historical ¢ost convention, and in cordanCe with the Charities Accounts (Scotland) Regulations 2006 (as amended). Basls ofJ7nancialslatemenls The financial statements have been prepared on a receipts and payments basis. Receipts andPaymenls Aecomnl For the purpose of the Receipts and Payments account as shown on pag¢ 5. funds are defined as follows: Unres¢ricted funds comprise grants and other income received for Ihe objecls of1he chUh without further specified putTrQ5¢ and 8r¢ available as general funds. Deslgnated funds compris¢ grants and other income received for the objects of the church without rther pecified purpose but which the Trustees have designated for a specific purpose. Restricted funds comprise income which has been r¢c¢ived for th¢ objKls of th¢ ¢hur¢h 8nd specified for a restricted purpose within these objects by the donor. 2. TranJ8etions with Tru$teu and reimbursemellt of expen8e8 No Trust¢¢s r¢G¢ived remuneration or reimbursement of expenditure during the yeAr (2023: nil) in their capacity as Trustees. 3. Related party transa¢¢lon$ There were no transactions made with related parties during the year (2023: nil). Page 7
The Storehouse Notes to the financial st¥4tementsfor the year ended 31 July 2024 4. Donationq and 2rants Donalion5 and granls comprise all fvnds paid os Mission gifts. donaiionJ and Community Unrnstricted Designated Restricted fund fund fund 2024 Total 2023 Total Haven Compassion Release International Community donation Bible siety SIM International Outreach Europe Go Global Tearfund Open D¢y)rs Beihally Christian Trust Donations < £ l 00 1.200 1.200 1.500 1200 1200 iJoo 117 1.585 1,200 1.200 200 300 1,000 117 400 300 100 150 150 280 400 443 loo 150 150 280 143 1.550 7.035 Total donatlons granty 143 5280 117 5540 5. UnreJtri¢¢ed funds Balanc¢ at 01.118.23 Receipts P8ymeDts Trnnsfers Balance a¢ 31.07.24 General fund Designated Mission fund Totsl unrestritted funds 57,533 1,487 39,020 60,234 312 (69,509) (5.772) (5,780) 5.772 175,289) 42,486 1,791 44,277 60,546 Explanatlon offundx The Generalfund represents all income and expenditur¢ relating to the primary focus activities of the charity, other than those for which funding is designated or restriLted. The Designaied missionfvnd rwresents funds allocated by the Trustees for supporting Missionary work and local communitv Droie£ts. 6. Restrl¢ted funds BAlanee At Batance at 01.08.23 Receipts Payments Transfers 31.07.24 Christmas fund Caft Families in need North Lanarkshir¢ kids work Trfh improvements for ki&% club Arnold Clark funding Storehouse cafe 312 293 3.882 312 428 13 5,1100 161 250 5.763 (5,628) (3.869) 5,000 500 1.000 2,600 14,863 (339) (750) (3,154) (13,740) 554 Total restricted funds 5,041 6.164 Page 8
The Storehouse Notes to the financial statementsfor ihe year ended 3] July 2024 6. Reslri¢ted fundg (continued) Explanalion offunds The Chrislmas fvnd represents income and expenditure rais and utilised for providing Christmas Hampers to families in need in Kilsyth and the local communities in association with Community Council and ihe local NHS health visitors. The C'afefund represents income and expenditure rais¢d and utilised for providing a café for the public. The Families in need fund represents monies received from the Corra Foundation for families and children in ted. The Norih Lanarkshire ki(ts work fund represents moni¢5 received from North Lanarkshire Council for hildren's work. The Tech imprt>vemenisfor kids club fund represents monies received from Virgin Money Foundalion for updating technology and upgrading stationery for kids club 8nd buying book learning material for them. The Arnold Clark fund represents Tnonies received from Arnold Clark for maintenance. The Siorehouse cafefvnd represents monic5 received from Voluntary Action North ianarkshire for The Storehous¢ Café. Pag¢ 9