REGISTERED CHARITY NUMBER: SC051478 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for Free Church Northern Presb Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB
Free Church Northern Presb Contents of the Financial Statements for the Year Ended 31 December 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Shèet Noles to the Financial Statements 6 to 10 Délailed Statement of Financial Activities 11 to 12
Free Church Northem Presb ort of the Trustees for the Year Ended 31 December 2024 The trustees present their report wth the financial stalemenls of the charity for Ihe year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slatement of Recornmended Practice applicable lo charities preparing their accounts in accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102118ffectlve 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Th8 charity is controlled by Its governing document, a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC051478 Page 1
em Y•8r End 31D r 2024 Snd ndBn 3C Ch3rter¢d A¢¢ourTtsinl8 Unrf8 Golspie 8u5inB5s Pa Golspie sherf?nd KW1Q 6UB 3 0, Approved by tsr¢8r of the board of trus on .. .............................. .......... 9¢41 on Ils beh311 Dy. Paye 2
Inde Fre endenl Examiner's Re Church Northern Presb ort to the Tru51ee5 of I report on the aGcounls for the year ended 31 December 2024 set out on pages four to ten. Re3pecUve responslblllties of trustees and examiner The charitvs trustees are responsible for the preparation of the accounts in accordènce with the lorms of Ihe Charities and Trustee Investment {Scolland} Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 las ampnded). The charity's trustees consider that the audit requirement of Regulation 1011)(al to (cl of the Accounts Regulations does not apply. It is my responsibility to exarnine the accounts as required under Section 44{1){cl of the Act and lo state whether particular matters have come to my attentlon. Basls of the independent examlner's report My examination was carried out accordan with Regulation 11 of the Charities Accounts {Scollandl Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the 3ccounls presented wlh those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking ex anationS trom you as trustees concerning any such matters. The proce¢Ju¥es undertaken do not provide all the evldence that would be required in an audit, and consequently I do not express an audit opinion on Ihe vtew given by the accounts. Independent examlnerfs statement In connection wilh my examinalion, no matter has come to my attention - 11) which gives me reasonable cause to believe that, in any material respect, trle requirements lo keep accounting records in accordance with Section 44111181 of Ihe 20DS Act and Regulation 4 of the 2006 Accounts Regulations., and to prepare accounts which accord with the accounting records and lo ¢omply vath Regulation 8 of the 2006 Accounts Regulations have not been mét., or 12} lo which, in rny opinion, attention should ts draM in order to enable a proper understandlng of the accounts to be reaGhed. Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB 30 September 2025 Page 3
Free Church Northern Presb Statement of Financial Activities for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 49,737 24,890 74,627 45,258 Investment income 18,481 18,481 Total 68,218 24,890 93.108 45.258 EXPENDITURE ON Charitable activities General 43,840 24,377 68,217 40,518 NET INCOME 24,378 513 24,891 4,740 RECONCILIATION OF FUNDS Total funds brought forward 2,335 14,526 16,861 12,121 TOTAL FUNDS CARRIED FORWARD 26,713 15,039 41,752 16,861 The notes form part of these financial statements Page 4
31.12.24 Total funds 31.12.23 Talal funds Unr951dctsd ResiriBied rund Noles CURRENT ASSETS Debtors C•sh 8t bank 1,970 35,076 1.970 50.115 4,210 15,833 15.039 37.046 15,039 52.085 20.043 CREDffORS Amtyjnts falling duè wilhin one year 110,3331 110.3331 13.1821 NEf CUIIRENT ASSETS 26,713 15,039 41.752 18,861 TOTAL ASSETS LESS CURAENT UABILITIES 26,713 1 S.03S 41.752 16.861 NET ASSETS 26.713 15.039 41.752 16.B61 FUNDS Unrestricted funds Restricted funds 26.713 15.039 2,335 14.526 TOTNL FUNDS 41.752 16.861 The fina al stslgmenls were approved by Ihe Board of Trustees and auihorised for ISSUE on 8fjd were *gned on ils b8half by.. The noies form part of these financial siaiémenis Page 5
Free Church Northern Presb Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statement5 The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance wilh the Charities SORP IFRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and RepubliG of Ireland IFRS 102} (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland, and Ihè Charities and Truslee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activitiès once the charity has entitlement to the funds, it is probable that the income will be received and Ihe amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated lo activities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricled funds can be used in accordance with the charitable objectives al the discrelion of the trustees. Restricted funds can only be used for particular restricted purposes wilhin the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 continued...
Fre8 Church Northern Presb Notes to the Financial Statements - continued for the Year Ended 31 December 2024 INVESTMENT INCOME 31.12.24 31.12.23 Rents received 18,481 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year 31 Dècember 2024 nor for the year ended 31 December 2023. ended Trustees. expenses There were no trustees, expense5 paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 4,842 40,416 45,258 EXPENDITURE ON Charitable activities General 7,332 33,186 40,518 NET INCOMEI{EXPENDITURE) Transfers between funds {2,490) 12,231) 7,230 2,231 4,740 Net movement in funds {4,721) 9,461 4,740 RECONCILIATION OF FUNDS Total funds brought foNard 7,056 5,065 12,121 TOTAL FUNDS CARRIED FORWARD 2.335 14,526 16,861 Page 7 continued...
Free Church Northern Presb Notes to the Financial Statements - continued for the Year Ended 31 December 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Other debtors 1.970 4,210 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdrafts {see note 7) Other creditors 7,790 2,543 3,182 10,333 3,182 LOANS An analysis of the maturity of loans is given below.. 31.12.24 31.12.23 Amounts falling due within one year on demand: Bank overdrafts 7,790 MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Capslone fund 2,335 (3,8191 28,197 (6,879) 6,879 (8,363) 35,076 2,335 24,378 26.713 Restricted funds NP Connect 14,526 513 15,039 TOTAL FUNDS 16,861 24,891 41,752 Page 8 continued...
Free Church Northern Presb Notes to the Financial Stalemenls - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows= Incoming Resources Movement resources expended in funds Unrestricted funds General fund Capstone fund 6,000 62,218 {9,8191 (34,0211 (3,819) 28,197 68,218 (43,8401 24,378 Restricted funds NP Connect 24,890 (24,377} 513 TOTAL FUNDS 93,108 (68,217} 24,891 Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 7,056 12,4901 (2,2311 2,335 Restricted funds NP Connect 5,065 7,230 2,231 14,526 TOTAL FUNDS 12,121 4,740 16,861 Comparative net movement in funds, included in the above are as follows- Incoming Resources Movement resources expended in funds Unrestricted funds General fund 4,842 (7.332) (2,4901 Restricted funds NP Connect 40,416 (33,186) 7,230 TOTAL FUNDS 45,258 (40,5181 4,740 Page 9 continued..-
Free Church Northern Presb Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows= Net rnovement in funds Transfers between funds Al 31.12.24 At1.1.23 Unrestricted funds General fund Capstone fund 7,056 (6,3091 28,197 (9,110) 6,879 (8,3631 35,076 7,056 21,888 {2.231 } 26,713 Restricted funds NP Connect 5,065 7,743 2.231 15,039 TOTAL FUNDS 12,121 29,631 41,752 A current year 12 months and prior year 12 months combined net movement in funds, included in Ihe above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund Capstone fund 10,842 62,218 117,151) (34,021) 16,309) 28,197 73,060 (51,172) 21,888 Restricted funds NP Connect 65,306 (57,563) 7,743 TOTAL FUNDS 138,366 1108,7351 29,631 RELATED PARry DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 10
Free Church Northern Presb Delailed Statement of Financial Activilies for the Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Rastricted funds funds INCOME AND ENDOWMENTS Donations and legacies Donations Insurance surplus Presbytery duès NP Connect Cafe income Hardship income 36,403 {2,569) 7,969 861 3,073 4,000 36,403 {2,569} 7,969 25,751 3,073 4,000 123 {1.536) 6,254 40,417 24,890 49,737 24,890 74,627 45,258 Investment income Rents received 18,481 18,481 Total incoming resources 68,218 24.890 93,108 45,258 EXPENDITURE Charitable activities Rates and water Light and heat Tèlephone Postage and stationery Sundries Honorarium - Presbyiery Clerk NP Connect expenses Comrnissioners expenses Travelling expenses Donations and gifts Cafe expenses Entertainment Cleaning Hardship expenses Repairs and renewals Admin fees 5,459 6,214 772 466 64 1,042 5,459 6,214 772 466 64 1,042 24,377 3,300 3,476 2,213 922 632 1,735 5,174 4,177 7,600 18 647 1,025 33,186 2,572 2,830 24,377 3,300 3,476 2,213 922 632 1.735 5,174 4,177 7,600 43,246 24,377 67,623 40,278 Support costs Governance costs Accountancy and legal fees Carried forward 216 216 216 216 240 240 This page does not form part of the statutory financial stalements Page11
Free Church Northern Presb Detailed Statement of Financial Activities for Ihe Year Ended 31 December 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted Restricted funds funds Governance costs Brought foNard Bookkeeping fees 216 378 216 378 240 594 594 240 Totsl resources expended 43,840 24,377 68,217 40,518 Net income 24,378 513 24,891 4,740 This page does not fomi part of the slatutory financial ststements Page12