Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
_Scottish Charity No. SC049539_
## **Grace Church Montrose**
Trustees’ Report and Financial Statements _Year Ended 31 December 2025_
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
**Contents of the Financial Statements** _for the year ended 31 December 2025_
||Page|
|---|---|
|Report of the Trustees|1 - 2|
|Report of the Independent Examiner|3|
|Receipts and Payments Account|4|
|Statement of Balances|5|
|Notes to the Financial Statements|6 - 7|
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Report of the Trustees** _for the year ended 31 December 2025_
The Trustees are pleased to present their report together with the financial statements of the church for the year ended 31 December 2025.
## **Status of Charity and governing document**
Grace Church Montrose is established by Constitution and is an unincorporated association. The church is a registered Scottish Charity (No. SC049539).
**Address** 21 Renny Crecent Montrose Angus DD10 9BW
**Bankers** Royal Bank of Scotland Brothock Bridge Arbroath DD11 1NP
Kingdom Bank Ltd Media House Padge Road Beeston Nottingham NG9 2RS Virgin Money 114 High Street Montrose DD10 8JE
## **Aims and affiliation**
The Congregation aims to maintain the public worship of God and to foster Christian fellowship; to evangelise the local area by proclaiming the gospel of Jesus Christ, to exercise pastoral care and practical compassion for those in need; to uphold and further the interests of the Free Church of Scotland; and to participate in the worldwide promotion of Christian fellowship and the advancement of the Christian faith.
All the business and proceedings of the Congregation shall be conducted in accordance with the constitution of the Free Church of Scotland, under the supervision of the Presbytery of the bounds, and in terms of the Acts, deliverances or directions of the General Assembly of the Free Church of Scotland.
## **Trustees and Office Bearers**
The church is congregational in policy and its day to day running is undertaken by the Trustees. The Office Bearers who served during the year and to the date of this report were as follows:
|_Trustees_|James Kellas – Elder|
|---|---|
||Gordon Ian Andrew – Elder|
||Alexander Duncan Ogilvie – Elder/Session Clerk|
||Rev. Ciarán Kelleher – Minister|
||Lorna Coull – Treasurer_/_Gift Aid Treasurer|
||Marion Corral|
||Kathryn Roskell (Appointed - 29thMarch 2025)|
||Donald Gillies (Appointed - 29thMarch 2025)|
||Sylvia Ann Kellas (Resigned – 28thMarch 2025)|
Page 1
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Report of the Trustees** _for the year ended 31 December 2025_
## **Appointment of Trustees**
New Trustees are nominated for appointment by the Session and voted on by the congregation. There is no fixed term for Trusteeship. 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.
## **Achievements and performance**
We have 3 weekly groups who meet to study the bible and to pray. We have Bi-monthly Men’s Breakfasts and have a Ladies Group that meets monthly. Our church attendance has grown over the past year and we are actively looking for our own larger premises. We now have an active teenage fellowship which meets twice a month. We have various people meeting on a one/one basis to study the Bible and to pray.
## **Financial review**
## _**Principal sources of funding**_
The church receives its funding from church members and attendees by way of weekly offerings and Gift Aid donations.
## _**Results for the year**_
As a result of a surplus for the year of £4,981 (2024: surplus of £3,813), total reserves at 31 December 2025 amounted to £155,208 (2024: £150,227). The general fund at 31 December 2025 amounted to £31,460 (2024: £38,183) and the designated fund amounted to £120,623 (2024: £112,044). The Restricted Fund at 31 December 2025 amounted to £3,125 (2024: nil).
## _**Reserves**_
It is the policy of the church to maintain unrestricted funds, that is, funds not committed or invested in fixed assets, at a level which equates to approximately 6 month’s unrestricted expenditure. This allows sufficient funds to enable the ongoing work of the church to be maintained. The unrestricted General Fund on page 5 and note 5 at 31 December 2025 amounted to £31,460 (2024: £38,183) and was at the required level.
## **On behalf of the Trustees**
ccA1DF739AFPala 454468... **AD Ogilvie** _Trustee and Session Clerk_ 30.03.2026 Date: ……………………
Page 2
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Report of the Independent Examiner to the Trustees** _for the year ended 31 December 2025_
I report on the accounts of the church for the year ended 31 December 2025 which are set out on pages 4 to 7.
## **Respective responsibilities of trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity’s Trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s Statement**
In 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 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations (as amended) have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Juan Herbst CA Director**
Innes & Partners Limited Chartered Certified Accountants
31.03.2026
Innes House 18 Shairps Business Park Houstoun Road Livingston EH54 5FD
Date: …………………………..
Page 3
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Receipts and Payments Account** _for the year ended 31 December 2025_
|**Notes**
**Receipts**
Plate offerings
Gift Aid offerings
Gift Aid tax rebates
Donations
Grants
Record sales
Interest
**Total receipts**
**Payments**
Staff costs
**3**
Pulpit supply
Record Magazines
Bibles
Presbetery dues
Donations
**4**
Rent
Licences
Computer expenses
Miscellaneous expenses
Sermon fee
Sunday school/story keepers
Gift aid fees (admin)
Legal fee
Advertising
Hospitality
Independent Examiner's fee
**Total payments**
**(Deficit)/Surplus for the year**
**Transfers between funds**
**(Deficit)/Surplus after transfers**
**Total funds brought forward**
**Total funds carried forward**|**General**
**fund**
**£**
13,515
34,845
10,213
220
-
42
413
**59,248**
46,015
328
55
690
100
2,250
2,490
353
308
507
88
-
217
2,760
1,814
1,642
804
**60,421**
**(1,173)**
(5,550)
**(6,723)**
**38,183**
**31,460**|**Designated**
**Fund**
**£**
-
-
-
-
-
-
3,029
**3,029**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**3,029**
5,550
**8,579**
**112,044**
**120,623**|**Restricted**
**fund**
**£**
-
2,500
625
-
-
-
-
**3,125**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**3,125**
-
**3,125**
**-**
**3,125**|**2025**
**Total**
**£**
**13,515**
**37,345**
**10,838**
**220**
**-**
**42**
**3,442**
**65,402**
**46,015**
**328**
**55**
**690**
**100**
**2,250**
**2,490**
**353**
**308**
**507**
**88**
**-**
**217**
**2,760**
**1,814**
**1,642**
**804**
**60,421**
**4,981**
-
**4,981**
**150,227**
**155,208**|**2024**
**Total**
**£**
11,885
26,250
8,823
403
10,000
82
2,957|
|---|---|---|---|---|---|
||||||**60,400**|
||||||47,076
512
161
30
100
1,375
2,310
377
438
389
210
150
331
2,408
-
-
720|
||||||**56,587**|
||||||3,813
-
3,813
146,414|
||||||**150,227**|
Page 4
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Statement of Balances** as at _31 December 2025_
||||**2025**|||**2024**||
|---|---|---|---|---|---|---|---|
|**Opening**||**Surplus**||**Closing**|**Opening**|**Surplus**|**Closing**|
|**balance**||**for year**||**balance**|**balance**|**for year**|**balance**|
||**£**||**£**|**£**|**£**|**£**|**£**|
|**Bank and cash**|150,227||4,981|**155,208**|146,414|3,813|150,227|
|**Total assets**|**150,227**||**4,981**|**155,208**|**146,414**|**3,813**|**150,227**|
|**Represented by:**||||||||
|**Unrestricted fund**||||||||
|General fund|||**5**|**31,460**|||38,183|
|_Designated funds_||||||||
|Property/Other Staffing/Emergency fund||||**35,932**|||30,036|
|Property fund||||**84,691**|||82,008|
|**Restricted funds**||||||||
|Building Fund|||**6**|**3,125**|||-|
|||||**155,208**|||**150,227**|
|**Statement of assets as at 31 December 2025**||**Statement of assets as at 31 December 2025**||||||
|Gift Aid due||||**2,205**|||2,233|
|||||**2,205**|||**2,233**|
|**Statement of liabilities as at 31 December 2025**|**Statement of liabilities as at 31 December 2025**||**Statement of liabilities as at 31 December 2025**|||||
|Independent examiner's fees|Independent examiner's fees|||**696**|||660|
|Professional fees||||-|||144|
|December 2025 Salary||||**3,959**|||-|
|||||**4,655**|||**804**|
30.03.2026
The financial statements on pages 4 to 7 were approved by the Trustees on ……………………. and signed on their behalf by the undernoted:
AD Ogilvie _Trustee and Session Clerk_
Page 5
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
**Notes to the financial statements** _for the year ended 31 December 2025_
## **1. Accounting policies**
## _**Accounting convention**_
The financial statements have been prepared under the historical cost convention, and in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).
## _**Basis of financial statements**_
The financial statements have been prepared on a receipts and payments basis.
## _**Church income**_
All voluntary income, income from tax recoveries on Gift Aid and bank interest is accounted for when received.
## _**Receipts and payments account**_
For the purpose of the Receipts and payments account as shown on page 4, funds are defined as follows:
**Unrestricted** funds comprise grants and other income received for the objects of the church without further specified purpose and are available as general funds.
**Restricted** funds comprise income which has been received for the objects of the church and specified for a restricted purpose within these objects by the donor.
## **2. Transactions with Trustees**
There were no transactions with the Trustees during the year ending 31 December 2025 (2024: nil). The Minister is a trustee and his remuneration is disclosed below. This was in connection with his pastoral work, not his role as a Trustee.
##
|**Staff costs and numbers**
Gross salary and employers NI (including minister's expenses)|**2025**
**2024**
**£**
**£**
46,015
47,076
**46,015**
**47,076**|
|---|---|
The average number of employees during the year was 1 (2024: 1).
|**4. Gifts and donations**
Bethany Christian Trust
Scottish Bible Society
Scripture Union
CBM
Tearfund
Charleston Free Church Plant Dundee
Gairloch Free Church
Galashiels Free Church
UCB
OpenDoorsUK
Page 6|**General**
**funds**
**£**
250
-
500
-
-
500
500
-
250
250
**2,250**|**Total**
**2025**
**£**
250
-
500
-
-
500
500
-
250
250
**2,250**|**Total**
**2024**
**£**
-
40
200
85
50
500
-
500
-
-|
|---|---|---|---|
||||**1,375**|
Docusign Envelope ID: 67D39711-E806-47CC-8C93-A7CCCBDF00A1
## Grace Church Montrose
## **Notes to the financial statements** _for the year ended 31 December 2025_
|**5.**|**Unrestricted funds**|**Balance at**||||**Balance at**|
|---|---|---|---|---|---|---|
|||**01.01.25**|**Receipts**|**Payments**|**Transfer**|**31.12.25**|
|||**£**|**£**|**£**|**£**|**£**|
||General fund|38,183|59,248|(60,421)|(5,550)|**31,460**|
||_Designated funds_||||||
||Property/Other Staffing/Emergency fund|30,036|346|-|5,550|**35,932**|
||Property fund|82,008|2,683|-|-|**84,691**|
||**Total designated funds**|**112,044**|**3,029**|-|**5,550**|**120,623**|
||**Total unrestricted funds**|**150,227**|**62,277**|**(60,421)**|**-**|**152,083**|
## _**Explanation of funds**_
_The General fund_ encompasses all income and expenditure relating to the primary focus activities of the charity.
_The Designated Property/Other Staffing/Emergency fund_ represents money set aside by the trustees for Property/Other Staffing/Emergency purposes.
_The Designated Property fund_ represents money set aside by the trustees for future property purchases.
|**6.**|**Restricted funds**|**Balance at**|||||**Balance at**|
|---|---|---|---|---|---|---|---|
|||**01.01.25**|**Receipts**|**Payments**|**Transfer**||**31.12.25**|
|||**£**|**£**|**£**||**£**|**£**|
||Property fund|-|3,125|-||-|**3,125**|
||**Total restricted funds**|**-**|**3,125**|**-**||**-**|**3,125**|
## _**Explanation of funds**_
_The Restricted Property fund_ represents donations made by congregants for future property purchases.
Page 7