Scottivh Charity No. SC049539 Grace Church Montrose Trustees. Report and Financial Statements Year Ended 31 December 2024 l+P Innes & Partners Chartered Certit*d AoUntartts
Grace Church Montrose Contents of the FIDanclal StatemeDtsfor theyear ended 31 Decembcr 2024 Page Rert ofthe Tn¢9 R¢port of th¢ Ind¢p¢nd¢nl Examiner Re4cipts and Paymcnts Account Statement of Balance8 Note8 to the Financial Statements
Grace Church Montrose Report of Trusteesfur iheyear ended 31 December 2024 The Trustees are pleased to presellt their report together with the financial statements of the church for the year ended 31 December 2024. Status of Ch&rlty EovernlDg document Grace Church Montrose is established by Constitution and is an unincorporated association. The church is registered Scortish Charity (No. SC049539). Address 21 Renny Crecent Montros¢ Angus DD109BW Bgnkerj Royal Bank of Scotland Brothock Bridge Arbroath DDI I INP Nationwide 58 High Street Monlrose r)DIO 8DB Virgin Money 114 High Street Montrose DD108JE Aims and affiliation The Coiigregalion aims to maintain tl?e publi¢ WUPihip of God and to foster Christian lellowship. to evangelise the loLal area by prlaImIng the gospel ofjesus ChrisL lo exercise pasioral lar¢ and praLlical compassion for those in need; lo uphold and further ihe interests of Ihe Free Church of Scotland; and to participhle in the worldwide promotion of Christian fellowship and the advancement of the c.hristian faith. All the business and proceedings of the Collgreg8tion shall be conducted in accordance with the eonstitution of the Free Church of Scotland, under the supervision of the Presbytery of the bounds, and in lernis of the Acts. d¢liv¢r8nc¢s or dir¢¢lion5 of th¢ G¢n¢ral Assembly of th¢ Free Church of Scotlartd. Trusteej and Oftrice Bearerj The church is congregalional in policy and its day to day Nnning is undertaken by ihc Trust¢es. The Offi¢¢ Be8tErn whD served during thc }'ear and to the datc nf this report were as tDI Inws.. Trusrees Page I
Grace Church Montrose Report of the Tru5teesfor the year ended 31 December 2024 Appoin¢JDent of Trustees New TTUSt¢ are non]inated for appointment by the ]sting Tnte¢s. There is no fixed tern) foT TnJstx8hip. Prior to th¢ir appoinknent, new Trnstees would have served the church for some lime in V3rious roles #nd would be familiar with the church's values. it$ aitn$ and objeciive8 as well as its day-tO- day operations. As part ot. their induction programmc. new TSle¢S are requircd to undersland their staNtory responsibilities. Achievements and performance We have 3 wcekly gruups who ttLeet to study the bll)l¢ ynd to pray. We have monthly m'S Breakfts and now bavc an active Ladi¢s Group who mKt monthly. Our ¢huwh attendance has grown oveT lh¢ past year and we are actively looking for our own12rgcr premises. Fin#lld41 review Prlndpalsourc¢s ollundthg The church receives ils fiinding from church members and attendees by way of weekly offwing& and Gift Aid don&tiow. Resmltsfor theyear AS a resulL ora surplus for the year of £3.813 (2023.. surplus of £6,220), lola] reserves ut 31 December 2024 amounted to £150,227 (2023: £146,414). The general fund at 31 December 2024 amount¢d to £38.183 (2023.. £146,414) and the designated fijnd omounted £112,044 (2023: £nil). Reservav It is the policy of the church to maintsin unrestricted fjjnds, that 18, funds nol committ¢d or invested in fixed asset4 at a level whick equates to approximately 6 month's unrestricted expenditurc. This allows sutTi¢i¢nt runds to enablc the ongoing work orth¢ church lo be maintained. Tho unrestr1cd General Fund on page 5 and notc 5 at 31 December 2024 amounted to £38,183 (2023.. £146.414) and wa3 al th¢ r¢quiTed level. On bchalf of the Trustees Page 2
Grace Church Montrose Report of the Independent ExAminer to the Trusteesfor theyear ended 31 December 2024 I report on the accounts of the church for the year ended 31 December 2024 which ar¢ set out on pages 4 to7. Respectiv¢ responJibllldeJ of trustees and exauthier The Charity's Trustees arc responsible for thc preparation of the accounts in aecon12nce with the tem]s of the Charitiag and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 21x16 (as amended). The Charlty's Trustees consider that the audit requirement of Regulation l O(l) (d) of the Accounts Regulations does not apply. It is my Tesponsibility to examine the 8¢¢oullts as required under section44(1) (c) of the A¢t and lo state whetherparticularmatters have come lo my att¢nlion. BA81$ of Independ¢DI ¢xamiwer'g Jtatement My examination is carried out in accordance with Regulation I l of the Ch111¢ Accounts (Scotland) Regulalions 2006 (as ameoded). AD examinaitots includes a review of the accounling records kept by the charity and a comparisoo of the accounts wesented with those records. Il also in¢lude$ consideration of any utiusual items or disclosures in the accounty and seeks explanations from the ttustees concerning such matters. The procedures undertakcn 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 accountg. Imdtpenden¢ Ex8mln¢r'i StstemeDt In the course of my exarnination, no matter has come to my attention I, which gives rne reasonable cwse to believe that tn any materiAI respect the requirements.. lo keep accountin8 Tccor(Ls in accordanrK with Sli0n 44(1) (a) of the 2005 Act and Regulation 4 of Ihe 2006 Accounts Regulations (as amended), and lo prcpare accounts which accord with th¢ a¢counLing rword5 and comply with Regulation 9 of th¢ 2006 AcGouDts R¢gulations (as amcndcd) have not been meL or 2. to which, in my OPTftiON attention should be drawn in order to enable 2 proper understanding of Ihe accounts to be reached. Innes & Parthers Limited Chartered Certified AceountAnts Innes House 18 Shllitps Business Park HoustOUD Road Llvingston EH54 5FD Dafr: .. 2025 Page 3 |+P Innes & Partners Cfr43rtered Cortifvd Accwntants
Grace Church Montrose Receipts and Payments Ateountfor tAeyear ended 31 December 2024 Notej Genergl fund D*nated Fund 2024 Tot41 2023 Total Reeelpts Plat¢ offAIDg8 Gift Aid offffings Gift Aid tax r¢bates DonaliL)ns Gran18 Rord salc Interest 11,885 26.250 8,823 403 iO,(XK) 82 .277 11,885 26,250 8,823 403 10.000 9.249 24.656 8,093 3,905 10,o(Ki 76 1,537 1.680 2.957 Total recelpts 58,720 1,680 57,516 PayDnts Staff costs Pulptt supply Rewrd MaBazinYs Bible5 Prcsbctcry dues I)onAtiong Rent Licences Computw exp$¢5 Miscellaneous expen8ag Sernum (net) fee Sunday schoovsiory keepers Gift aid fees (admin) Legal fee Independent Examin&s fee 47,076 512 47,076 512 45,020 375 148 72 loo 1.147 2,190 453 385 875 90 30 loo lJ75 2JlO 377 438 1.375 2.310 377 438 389 210 150 210 150 331 2,408 720 162 39 331 2,408 720 240 Totsl payments 56.587 56J87 51296 sUrplu(DefiC1t) for tbt year 2,133 1,680 3,813 6,220 TrAn8fer8 between funds (110,364) 146,414 110,304 Total fvnds brought forward Tot41 funth carried foDvard 146,414 140,194 183 112,IM4 150,227 14&414 Page 4
Grace Church Montrose Statement of Balances as ai 31 December 2024 2024 2023 Openjng balance Surplus for year Closth2 b8lAnct Openlng Surpllls CloslD2 balnte for year bAlaDce Ballk and eg8h 146,414 3.813 150,227 140,194 6220 146,414 Total Assets 140,414 3,813 150.227 140.194 6,220 140,4J4 Reprellted by: Unrestrlcted Gcneral fur Dofignatedfund¥ Property/Oth4x Staffingffi.mtrgew Thd Proptrty fund 3&183 146,414 30,036 82,008 150,227 146,414 Stat¢Dllt of amets (at VAluAtlon) Gift Aid duv 2.233 1,931 stAteDnt of Ilabllltlel lNlqJ¢ndrni cxan2incr'5 fees Professional fe&8 660 144 I g/ol./..... Tr financial 8tAtcments on pa8es 4 to 7 were aM)roved by the Trnstees on ... Sied on their behalf by the undtrrn)t. 2025 and Page 5
Grace Church Montrose Notes to the Ilnan¢ial staternentsfor theyear ended 31 December 2024 l. A¢¢owiting pollcles Accountsng comwnilon Th¢ r]nancial State18 have been prcparcd under the historical cost convLtiOn. and in accordance the Clwities Accoullts (Scotland) Regulations 2LK16 (as atnendd). Basis ofJ7nAn¢lal slalements The fina11 statements have been pr¢pared on a receipts a] payments basis. Church IHcome All voluntary iwome. income from Lqx I0V¢r1 on Gift Aid and bank intrnt is accountd for whffl Recelpts 4ndpayments accom For the purpose of the Receipts and payt8 account as Bhown on pagc 4, funth arc &fincd as follows: Unrestrlcted funds compri¥¢ granls atld other income received for th¢ ObJts of th¢ ¢hur¢h without fiffther specified punjose and are available as 8cneral fund8. Ratrl¢ted funds coryrise Inco Hthich has be rtteived for th¢ objects of thc church and specified for a restric] pu0 within these (t+je¢is by lh¢ th)nor. 2. TraM•¢doN vAth Trte There were no Irdnsactions with the Trustea8 during Ihe year dIng 31 Dember 2024 (2023: nil). Th¢ Minister is a trustee and his remuneration is disclosed below. This was in Conn(10n with his p48toral work, not his rolc as a TnJ3tee. 3. Staff costs and 2024 2023 Gro88 Salary ernployws Nl 47,076 45.020 47,076 45,020 Th¢ 4V¢rn8e nunthw of ary)loY& thwing the year WAS l (2023: 1), 4. Glfts and donvdtio GeoerAI Total 2024 2023 Bethany Cbristian Trnst Scottish Bible sIety Scripture Union CBM Tearfvnd Charleston Free Churcb Pknt Dun Galashiels Free Church Free Church of Scotland {Camps) 290 30 40 200 85 50 51x1 3(x) 40 200 85 50 51XJ 51JO 115 672 lJ75 la75 .147 P&ge 6
Grace Church Montrose Notes to the financial Statementsfor theyear ended 31 December 2024 & Umre8trlcl¢d fwidj BalAn¢t at 31.12.24 01.01.24 RtteApts Pxywttts Tranifer GeneTai fimd 146.414 58,720 (56.587) (110,364) 38.183 Designatedfyndy Properrylother St4tYMWEm8¢y furNJ Propty fid T(rtal deJignAt¢d fwidj T*1 unre8trleted fyDd$ 126 1,554 1.080 29.910 80,454 IIOJ04 3•.030 82.IK18 112,044 146,414 608 ($6J8D 150,227 The Generulfvnd ¢ncompasses all incom¢ Ond cxp¢nditur¢ relaiing to the primary focus athivities of the charity. Th¢ deJigKa¢&lProperty/Oth¢r Siaffing/Emep3encyfynd represents money set aside bythe tn]stees Propetylotber StaffinMergencY PUTP(M5. The deSi8nedProFeTtyfvxd rq)r¢sents rn(Trney set aside bythe trustees for firture proptypurch8Sts. Page 7