OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Scottish Charity Number: SC051824

Elgin Baptist Church SCIO Annual Report and Financial Statements for the year ended 31 March 2025

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Contents

Page
Report of the Trustees 1
Report of the Auditor 5
Statement of Financial Activities 9
Statement of Financial Position 10
Statement of Cashflows 11
Notes to the Financial Statement 12

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Trustees for the year ended 31 March 2025

The trustees present their annual report and audited financial statements of the church for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities and Trustee Investment (Scotland) Act 2005 and the 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 published in October 2019.

Status of Charity and Governing Document

Elgin Baptist Church is established by Constitution. The church is a Scottish Charity (No. SC051824) and is recognised by the Inland Revenue under reference number ST05064. Elgin Baptist Church SCIO was set up to replace Elgin Baptist Church (No. SC005321), with its assets and liabilities being transferred to Elgin Baptist Church SCIO.

Aims and Affiliations

The aims of the church, which is affiliated with the Baptist Union of Scotland are in line with its Mission Statement – “This church is committed to fulfilling God’s great command and Christ’s great commission through worship, ministry, evangelism, fellowship and discipleship.”

Trustees

The church is congregational in policy and its day to day running is undertaken by the Deacons who are also Trustees. The Trustees who served during the year and to the date of this report were as follows:-

G. Swanson (Pastor) M. Clarke - Resigned 1 April 2024 S.Duff

S. Greeves (Church Treasurer – appointed 1 April 2024)

M. Geddes (Church Secretary)

F. Norrie – Resigned 1 April 2024

Appointment of Trustees

New Trustees are nominated by the existing Trustees and appointed by a majority of at least 66% of the church members. 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

This past year has seen some significant changes for us as a church. In February we had a change in leadership structure when we moved from a deaconate led leadership and appointed elders. Our membership continues to grow, and we have seen several new people coming along. We continue to build links with the community through our Toddlers group, Men’s Breakfast, Open House and a new initiative called Knit and Natter.

Page 1

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Trustees for the year ended 31 March 2025

Achievements and Performance (continued)

We also endeavour to help with overseas work. We support various projects including Blythswood shoe box appeal where this year 95 boxes as well as a cash gift was given. One of our members is out teaching in Thailand where again we support her financially as well as various gifts to Christian organisations serving in different parts of the world.

For the past five years we have slowly watched the development of our refurbished new premises and were delighted to receive the completion certificate in early December 2025. This has been a long journey, but we are grateful to God for the way the church has sacrificially given, and we look forward to using it to further develop our work in the community.

Our work with other churches in the area continues through youth work as well as Street/School Pastors. We are grateful to God and to His people and look forward to all that He has planned for us.

Principal sources of funding

The church receives its funding from weekly freewill offerings and Gift Aid donations.

Grant Making Policy

The church makes grants from its tithed gift income 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.

Volunteers

In common with all congregations in the Baptist Church the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown.

Financial Review

Results for the year

The Statement of Financial Activities on page 9 reflects an increase in funds of £397,254 (2024: restated £83,932). The church held total reserves at 31 March 2025 amounting to £1,287,541 (2024: restated £890,287) which was made up of an unrestricted general fund of £135,091 (2024: restated £150,934), designated funds of £930,013 (2024: restated £464,243) and restricted funds of £222,437 (2024: restated £275,110).

Reserves

It is the practice of the church to maintain one unrestricted fund, i.e the General Fund (Virgin Money Current A/c) a fund not committed or invested in fixed assets, at a level which equates to approximately three month’s unrestricted expenditure. This allows sufficient funds to enable the ongoing work of the church to be maintained. The General Fund at 31 March 2025 amounted to £135,091 (2024: restated £150,934) and was above the required level.

Total reserves at 31 March 2025 amounted to £1,287,541 (2024: £890,287).

Plans for the future

We are seeing many new people coming into the church and there has been growth in the children’s and youth ministries as well. In December 2025 we received the keys for No 7 Academy Street after the completion of the refurbishment and this is helping us to accommodate these ministries properly. The refurbished building provides a great space for us to develop ministries and allow more interaction with the community. It is our desire to build on this over the coming years.

Page 2

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Trustees for the year ended 31 March 2025

Statement on Risk

The trustees assess the major risk to which the charity is exposed on an ongoing basis and have established procedures to mitigate those that are identified as a result of these reviews.

Going Concern

The management team have prepared projections for the periods to 31/3/2027 and 31/3/2028. The Trustees have reviewed the projections, based on this review, have a reasonable expectation that the charity has adequate resources to continue in operation for a period of at least 12 months from the approval of the financial statements. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Reference and Administrative Information

Principal Office: Reidhaven Street Elgin IV30 1QH Charity Number: SC051824 Independent Auditor: Jonathan N Innes FCCA Chartered Certified Accountants & Statutory Auditors Innes & Partners Limited 9 Ardross Street Inverness IV3 5NN Bankers: Virgin Money Kingdom Bank Ltd 151 High Street Media House Elgin Padge Road IV30 1DU Beeston Nottingham NG9 2RS

Trustees’ Responsibilities in relation to the Financial Statements

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)

The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

Page 3

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Trustees for the year ended 31 March 2025

Trustees’ Responsibilities in relation to the Financial Statements (continued)

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on 5 May 2026 and signed on their behalf by:

Stephen Greeves Treasurer

Page 4

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Independent Auditors to the Trustees for the year ended 31 March 2025

Opinion

We have audited the financial statements of Elgin Baptist Church SCIO (the ‘charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard. As the charity’s income was below the audit threshold in the prior year, comparative figures have not been audited.

Page 5

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Independent Auditors to the Trustees for the year ended 31 March 2025

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Page 6

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Independent Auditors to the Trustees for the year ended 31 March 2025

The extent to which the audit was considered capable of detecting irregularities including fraud (cont’d) We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Page 7

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Report of the Independent Auditors to the Trustees for the year ended 31 March 2025

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan N Innes FCCA

Senior Statutory Auditor for and behalf of Innes & Partners Limited, Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006. 9 Ardross Street Inverness IV3 5NN inherent limitations in our audit procedures described above. The more removed that laws and

Date: 5 May 2026 correspondence, if any.

Page 8

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Statement of Financial Activities for the year ended 31 March 2025

Note
Unrestricted
Funds
£
Income
Donations and Legacies
3
117,289
Charitable Activities
4
-
Investments
5
3,259
Total Income
120,548
Expenditure
Charitable Activities
6
135,223
Total Expenditure
135,223
(14,675)
Transfers between funds
13
(1,168)
Net Movement in Funds
(15,843)
Reconciliation of Funds
Total Funds Brought Forward
150,934
Total Funds Carried Forward
12
135,091
Net income/(expenditure)		 Note
Unrestricted
Funds
£
Income
Donations and Legacies
3
117,289
Charitable Activities
4
-
Investments
5
3,259
Total Income
120,548
Expenditure
Charitable Activities
6
135,223
Total Expenditure
135,223
(14,675)
Transfers between funds
13
(1,168)
Net Movement in Funds
(15,843)
Reconciliation of Funds
Total Funds Brought Forward
150,934
Total Funds Carried Forward
12
135,091
Net income/(expenditure)		 Designated
Funds
£
-
-
-		 Restricted
Funds
£
416,694
2,660
4,148		 Total
Funds
2025
£
533,983
2,660
7,407
544,050
146,796
146,796
397,254
-
397,254
890,287
1,287,541		 Restated
Total
Funds
2024
£
180,940
3,058
14,894
120,548 - **423,502 ** **198,892 **
6,647 4,926 114,960
135,223 6,647 4,926 114,960
(6,647)
472,417		 418,576
(471,249)		 83,932
-
(15,843)
150,934		 465,770
464,243		 (52,673)
275,110		 83,932
806,355
930,013 222,437 890,287

Page 9

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Statement of Financial Position as at 31 March 2025

Note Unrestricted
Funds
£
Fixed Assets
Tangible assets
8
-
Total Fixed Assets
-
Current Assets
Debtors
9
48,621
Cash at Bank and in Hand
154,393
Total Current Assets
203,014
Liabilities
10
67,923
Net Current Assets
135,091
Total Assets less Current Liabilities
135,091
Net Assets
11
135,091
The Funds of the Charity
Restricted Income Funds
-
Designated Funds
-
Unrestricted Funds
135,091
Total Charity Funds
12
135,091
Creditors falling due within one
year		 Note Unrestricted
Funds
£
Fixed Assets
Tangible assets
8
-
Total Fixed Assets
-
Current Assets
Debtors
9
48,621
Cash at Bank and in Hand
154,393
Total Current Assets
203,014
Liabilities
10
67,923
Net Current Assets
135,091
Total Assets less Current Liabilities
135,091
Net Assets
11
135,091
The Funds of the Charity
Restricted Income Funds
-
Designated Funds
-
Unrestricted Funds
135,091
Total Charity Funds
12
135,091
Creditors falling due within one
year		 Designated
Funds
£
930,013		 Restricted
Funds
£
-		 Total
Funds
2025
£
930,013
930,013
110,504
314,947
425,451
67,923
357,528
1,287,541
1,287,541
222,437
930,013
135,091
1,287,541		 Restated
Total
Funds
2024
£
464,243
- 930,013 - 464,243
-
-		 61,883
160,554		 12,151
414,954
-
-		 222,437
-		 427,105
1,061
135,091 - 222,437 426,044
135,091 930,013 222,437 890,287
930,013 222,437 890,287
-
-
135,091		 -
930,013
-		 222,437
-
-		 275,110
464,243
150,934
930,013 222,437 890,287

The notes at pages 12 to 24 form part of these accounts Approved by the trustees on 5 May 2026 and signed on their behalf by:

Stephen Greeves Treasurer

Page 10

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Statement of Cash Flows for the year ended 31 March 2025

lgin Baptist Church SCIO
tatement of Cash Flows for the year ended 31 March 2025
Net movement in funds for the reporting period
(as per the statement of financial activities)
Adjustments for:
Depreciation charges
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Net cash generated from/(used in) operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash generated from/(used in) investing activities
Change in cash and cash equivalents in the year
Cash and equivalents brought forward
Cash and cash equivalents carried forward		 Total
Funds
2025
£
397,254
6,647
(98,353)
66,862
372,410
(472,417)
(472,417)
(100,007)
414,954
314,947		 Restated
Total
Funds
2024
£
83,932
6,500
7,804
(49)
98,187
(9,939)
(9,939)
88,248
326,706
**414,954 **

The notes at pages 12 to 24 form part of these accounts

Page 11

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting Policies

Basis of preparation and assessment of going concern

Elgin Baptist Church SCIO is a registered charity in Scotland. The address and registered office is given in the charity reference and administration details on page 3 of these financial statements. The nature of the charity’s operation and principal activities are included in the trustees’ report on pages 1 and 2.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The prior year financial statements were prepared under the Receipts and Payments basis. The prior year has been restated and prepared on an accruals basis to align with the 2025 balances.

Fund accounting

Unrestricted funds are available for use at the discretion of Trustees in furtherance of the general objectives of the Church.

Designated funds are unrestricted funds earmarked by Trustees for particular purposes.

Restricted funds are subject to restrictions on their expenditure by the terms on which Trustees solicited donations or by restrictions imposed by the donor.

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Page 12

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

Accounting policies (continued) Income recognition (continued)

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Cash and Cash equivalents

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.

Tangible fixed assets

Fixed assets are capitalised at cost where the value is greater than £500 (2024: £500) less accumulated depreciation and accumulated impairment losses. For property assets, an impairment review is performed each year. Depreciation is provided on all tangible fixed assets, at rates calculated to write off costs, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Property 2% per annum straight line Equipment 20% per annual straight line

Page 13

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

Accounting policies (continued) Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors & Creditors

Debtors and creditors with no stated interest rate and received or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Pensions

Employees of the charity are entitled to join a defined contribution pension scheme. The church’s contribution is restricted to the contributions disclosed in note 7. The costs of the defined contribution scheme are included within charitable expenditure.

Judgements in applying policies and key sources of estimation uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The Trustees are satisfied that the accounting policies are appropriate and applied consistently. Key sources of estimation have been applied in determining the depreciation rates.

2. Related Party Transactions

Rev G Swanson, Trustee received a gross salary of £37,515 (2024: £35,729) and pension contributions of £2,855 (2024: £4,244) for his role as Pastor.

During the year donations received from Trustees without conditions was £168,560 (2024: £33,460).

There were no transactions with related parties during the year ended 31 March 2025 (2024: £nil).

Page 14

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

3. Donations and Legacies
Offerings
Gift Aid Offerings
Donations
Designated Gifts
Grants
Gift aid refunds
Other income & donations		 Unrestricted
Funds
£
18,604
77,924
-
-
-
19,740
1,021		 Designated
Funds
£
-
-
-
-
-
-
-		 Restricted
Funds
£
6,460
240,080
757
-
106,032
59,528
3,837		 Total
Funds
2025
£
25,064
318,004
757
-
106,032
79,268
4,858		 Restated
Total
Funds
2024
£
17,189
95,749
29,212
4,001
-
34,787
2
117,289 - **416,694 ** 533,983 180,940

Included within Grant income of £106,032 (2024: £nil) is £66,732 (2024: £nil) from The Energy Saving Trust, £25,000 (2024: £nil) from The Garfield Weston Foundation, £9,300 (2024: £nil) from The Benefact Trust and £5,000 (2024: £nil) from The Beatrice Laing Trust.

Donations and Legacies - Comparatives
Unrestricted
Funds
£
Offerings
17,189
Gift Aid Offerings
59,472
Donations
21,283
Designated Gifts
3,113
Gift aid refunds
26,201
Other income & donations
2
127,260
4. Charitable Activities
Unrestricted
Funds
£
Toddler Income
-
Open House Income
-
-
Charitable Activities - Comparatives
Unrestricted
Funds
£
Toddler Income
-
Open House Income
-
-
5. Investments
Unrestricted
Funds
£
Interest
3,259
3,259
Investments - Comparatives
Unrestricted
Funds
£
Interest
6,510
6,510		 Donations and Legacies - Comparatives
Unrestricted
Funds
£
Offerings
17,189
Gift Aid Offerings
59,472
Donations
21,283
Designated Gifts
3,113
Gift aid refunds
26,201
Other income & donations
2
127,260
4. Charitable Activities
Unrestricted
Funds
£
Toddler Income
-
Open House Income
-
-
Charitable Activities - Comparatives
Unrestricted
Funds
£
Toddler Income
-
Open House Income
-
-
5. Investments
Unrestricted
Funds
£
Interest
3,259
3,259
Investments - Comparatives
Unrestricted
Funds
£
Interest
6,510
6,510		 Designated
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£
-
36,277
7,929
888
8,586
-		 Restated
Total
Funds
2024
£
17,189
95,749
29,212
4,001
34,787
2		 Restated
Total
Funds
2024
£
2,332
726
127,260 - 53,680 180,940
Unrestricted
Funds
£
-
-		 Designated
Funds
£
-
-		 Restricted
Funds
£
2,224
436		 Total
Funds
2025
£
2,224
436
- - 2,660 2,660 3,058
Designated
Funds
£
-
-		 Restricted
Funds
£
2,332
726		 Restated
Total
Funds
2024
£
2,332
726		 Restated
Total
Funds
2024
£
14,894
- - 3,058 3,058
Unrestricted
Funds
£
3,259		 Designated
Funds
£
-		 Restricted
Funds
£
4,148		 Total
Funds
2025
£
7,407
3,259 - 4,148 7,407 **14,894 **
Unrestricted
Funds
£
6,510		 Designated
Funds
£
-		 Restricted
Funds
£
8,384		 Restated
Total
Funds
2024
£
14,894
6,510 - 8,384 14,894

Page 15

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

6. Analysis of Expenditure
Note Unrestricted
Funds
£
Charitable Expenditure
Staff Costs
7
47,401
Council Tax
3,114
Heat & Light
3,894
Insurances
4,112
Telephone
631
Church Repairs
2,721
Manse Repairs
34,813
Cleaning
77
Resources
3,861
JAM Expenses
1,211
Pulpit Supply
1,375
Fellowship
1,106
Stationery and printing
548
Licenses
1,329
Donation expenses
2,550
BU & Assembly expenses
3,705
Advertising
-
Tithe Gifts
15
6,840
Designated Gifts
15
470
Catering
915
Bible Class
744
Creche
22
BATS
19
Outreach Events
115
Youth Events
159
Bank Charges
28
Ladies Fellowship
117
Academy Street Building
-
Academy Street Expenses
323
Water Charges
621
Pastoral Care
138
CD & DVD Ministry
-
Church Music
-
Training courses
-
Toddler Expenses
16
-
Open House Expenses
17
-
Legal and Professional fees
504
Depreciation
-
Independent Examination fees
-
Accountancy fees
2,160
Audit fees
9,600
135,223
Total
135,223		 6. Analysis of Expenditure
Note Unrestricted
Funds
£
Charitable Expenditure
Staff Costs
7
47,401
Council Tax
3,114
Heat & Light
3,894
Insurances
4,112
Telephone
631
Church Repairs
2,721
Manse Repairs
34,813
Cleaning
77
Resources
3,861
JAM Expenses
1,211
Pulpit Supply
1,375
Fellowship
1,106
Stationery and printing
548
Licenses
1,329
Donation expenses
2,550
BU & Assembly expenses
3,705
Advertising
-
Tithe Gifts
15
6,840
Designated Gifts
15
470
Catering
915
Bible Class
744
Creche
22
BATS
19
Outreach Events
115
Youth Events
159
Bank Charges
28
Ladies Fellowship
117
Academy Street Building
-
Academy Street Expenses
323
Water Charges
621
Pastoral Care
138
CD & DVD Ministry
-
Church Music
-
Training courses
-
Toddler Expenses
16
-
Open House Expenses
17
-
Legal and Professional fees
504
Depreciation
-
Independent Examination fees
-
Accountancy fees
2,160
Audit fees
9,600
135,223
Total
135,223		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,647
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
500
-
956
-
1,250
-
-
-
-
-
-
-
-
390
143
-
300
-
-
-
1,092
295
-
-
-
-
-		 Total
Funds
2025
£
47,401
3,114
3,894
4,112
631
2,721
34,813
77
3,861
1,211
1,375
1,106
548
1,329
3,050
3,705
956
6,840
1,720
915
744
22
19
115
159
28
117
390
466
621
438
-
-
-
1,092
295
504
6,647
-
2,160
9,600		 Restated
Total
Funds
2024
£
45,155
3,050
3,126
4,243
683
20,440
2,913
327
2,530
738
360
247
1,710
1,239
425
3,135
-
3,290
4,918
859
96
-
-
-
29
38
102
4,684
745
-
-
46
264
240
971
472
365
6,500
1,020
-
-
135,223 6,647 4,926 146,796 114,960
135,223 6,647 4,926 146,796 114,960

Page 16

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

6. Analysis of Expenditure - Comparatives
Note Unrestricted
Funds
£
Charitable Expenditure
Staff Costs
7
45,155
Council Tax
3,050
Heat & Light
3,126
Insurances
4,243
Telephone
683
Church Repairs
20,440
Manse Repairs
2,913
Cleaning
327
Resources
2,356
JAM Expenses
738
Pulpit Supply
360
Fellowship
247
Stationery and printing
1,647
Licenses
1,239
Donation expenses
425
BU & Assembly expenses
3,135
Tithe Gifts
15
3,290
Designated Gifts
15
4,168
Catering
859
Bible Class
96
Youth Events
29
Bank Charges
38
Ladies Fellowship
102
Academy Street Building
-
Academy Street Expenses
695
CD & DVD Ministry
46
Church Music
264
Training courses
240
Toddler Expenses
16
-
Open House Expenses
17
-
Legal and Professional fees
365
Depreciation
-
Independent Examination fees
1,020
101,296
Total
101,296		 6. Analysis of Expenditure - Comparatives
Note Unrestricted
Funds
£
Charitable Expenditure
Staff Costs
7
45,155
Council Tax
3,050
Heat & Light
3,126
Insurances
4,243
Telephone
683
Church Repairs
20,440
Manse Repairs
2,913
Cleaning
327
Resources
2,356
JAM Expenses
738
Pulpit Supply
360
Fellowship
247
Stationery and printing
1,647
Licenses
1,239
Donation expenses
425
BU & Assembly expenses
3,135
Tithe Gifts
15
3,290
Designated Gifts
15
4,168
Catering
859
Bible Class
96
Youth Events
29
Bank Charges
38
Ladies Fellowship
102
Academy Street Building
-
Academy Street Expenses
695
CD & DVD Ministry
46
Church Music
264
Training courses
240
Toddler Expenses
16
-
Open House Expenses
17
-
Legal and Professional fees
365
Depreciation
-
Independent Examination fees
1,020
101,296
Total
101,296		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,500
-		 Restricted
Funds
£
-
-
-
-
-
-
-
-
174
-
-
-
63
-
-
-
-
750
-
-
-
-
-
4,684
50
-
-
-
971
472
-
-
-		 Restated
Total
Funds
2024
£
45,155
3,050
3,126
4,243
683
20,440
2,913
327
2,530
738
360
247
1,710
1,239
425
3,135
3,290
4,918
859
96
29
38
102
4,684
745
46
264
240
971
472
365
6,500
1,020
101,296 6,500 7,164 114,960
101,296 6,500 7,164 114,960

Support cost have not been separately identified as the trustees consider that there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified.

Page 17

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

7. Analysis of Staff Costs
Salaries and wages
Employer Pension
Other Pension Scheme Expenses and Charges
Ministerial support
Premises maintenance		 Total
2025
£
42,886
2,855
1,660		 Restated
Total
2024
£
40,857
4,298
-
**47,401 ** 45,155
Total
2025
Number
1
1		 Total
2024
Number
1
1
2 2

No employee had employee benefits in excess of £60,000 (2024: nil).

8. Tangible Fixed Assets
£
Cost
As at 1 April 2024
100,000
Additions
-
As at 31 March 2025
100,000
Depreciation
As at 1 April 2024
4,000
Charge for the year
2,000
As at 31 March 2025
6,000
Net Book Value
As at 1 April 2024
96,000
As at 31 March 2025
94,000
9. Debtors
Note Unrestricted
Funds
£
Prepayments and accrued income
5,012
Other debtors
43,609
48,621
10. Creditors
Note Unrestricted
Funds
£
Due within 1 year
Accruals and deferred income
67,882
Other Creditors
41
67,923
Church
Building		 £
100,000
-
Church
Building		 £
225,000
-
Church
Manse		 £
152,243
470,649
Academy
Street
Building		 £
-
1,768
Equipment		 £
477,243
472,417
Total
100,000 225,000 **622,892 ** 1,768 949,660
4,000
2,000		 9,000
4,500		 -
-		 -
147		 13,000
6,647
6,000 13,500 - 147 19,647
96,000 216,000 152,243 - 464,243
94,000 211,500 **622,892 ** 1,621 930,013
Designated
Funds
£
-
-		 Restricted
Funds
£
-
61,883		 Total
Funds
2025
£
5,012
105,492		 Restated
Total
Funds
2024
£
4,810
7,341
48,621 - 61,883 **110,504 ** **12,151 **
Designated
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total
Funds
2025
£
67,882
41		 Restated
Total
Funds
2024
£
1,020
41
67,923 - - 67,923 **1,061 **

Page 18

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

11.
**12. **		 Analysis of Net Assets Among Funds
Unrestricted
Funds
£
Fixed Assets
-
Current Assets
203,014
Current Liabilities
(67,923)
Net Assets as at 31 March 2025
135,091
Analysis of Net Assets Among Funds
Unrestricted
Funds
£
Fixed Assets
-
Current Assets
151,995
Current Liabilities
(1,061)
Net Assets as at 31 March 2024
150,934
Movement in Funds
As at
01.04.2024
£
Restricted Funds
Emergency Fund
1,197
Pledge Academy Street
62,324
Building Fund
195,853
Outreach Fund
12,879
Toddlers Fund
2,745
Open House Fund
112
275,110
Unrestrictd Funds
General
150,934
Designated Funds
Designated Asset Fund
464,243
464,243
615,177
Total Funds
890,287		 Analysis of Net Assets Among Funds
Unrestricted
Funds
£
Fixed Assets
-
Current Assets
203,014
Current Liabilities
(67,923)
Net Assets as at 31 March 2025
135,091
Analysis of Net Assets Among Funds
Unrestricted
Funds
£
Fixed Assets
-
Current Assets
151,995
Current Liabilities
(1,061)
Net Assets as at 31 March 2024
150,934
Movement in Funds
As at
01.04.2024
£
Restricted Funds
Emergency Fund
1,197
Pledge Academy Street
62,324
Building Fund
195,853
Outreach Fund
12,879
Toddlers Fund
2,745
Open House Fund
112
275,110
Unrestrictd Funds
General
150,934
Designated Funds
Designated Asset Fund
464,243
464,243
615,177
Total Funds
890,287		 Designated
Funds
£
930,013
-
-		 Restricted
Funds
£
-
222,437
-		 Total
Funds
2025
£
930,013
425,451
(67,923)		 As at
31.03.2025
£
897
86,336
121,244
10,530
3,377
53
**135,091 ** 930,013 222,437 1,287,541
Designated
Funds
£
464,243
-
-		 Restricted
Funds
£
-
275,110
-		 Restated
Total
Funds
2024
£
464,243
427,105
(1,061)
**150,934 ** 464,243 275,110 890,287
As at
01.04.2024
£
1,197
62,324
195,853
12,879
2,745
112		 Incoming
Resources
£
-
24,012
396,473
357
2,224
436		 Outgoing
Resources
£
(300)
-
(533)
(2,706)
(1,092)
(295)		 Transfers
£
-
-
(470,549)
-
(500)
(200)
275,110 **423,502 ** (4,926) (471,249) 222,437
150,934
464,243		 120,548
-		 (135,223)
(6,647)		 (1,168)
472,417		 135,091
930,013
464,243 - (6,647) 472,417 930,013
615,177 120,548 (141,870) 471,249 **1,065,104 **
890,287 544,050 (146,796) - 1,287,541

Page 19

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

Movement in Funds
Restricted Funds
Emergency
Pledge Academy Street Fund
Building Fund
Outreach Fund
Toddlers Fund
Open House Fund
Unrestrictd Funds
General
Designated Funds
Asset Fund
Total Funds		 Restated
Balance
As at
01.04.2023
£
1,447
34,684
176,990
12,728
1,884
93		 Incoming
Resources
£
-
27,640
33,536
888
2,332
726		 Outgoing
Resources
£
(250)
-
(4,734)
(737)
(971)
(472)		 Transfers
£
-
-
(9,939)
-
(500)
(235)		 Restated
Balance
As at
31.03.2024
£
1,197
62,324
195,853
12,879
2,745
112
227,826 65,122 (7,164) (10,674) 275,110
117,725
460,804		 133,770
-		 (101,296)
(6,500)		 735
9,939		 150,934
464,243
**460,804 ** - (6,500) 9,939 464,243
578,529 133,770 (107,796) **10,674 ** 615,177
806,355 **198,892 ** (114,960) - 890,287

Fund Purposes:

Restricted Funds:

The Emergency Fund provides for financial assistance to be given to anyone in the church where the leadership see a need, or a need is brought to their attention. This fund is supported by the Church or individual donations.

The Pledge Academy Street Fund represents long or short term pledges made towards the renovation and refurbishment of 7 Academy Street, Elgin.

The Building Fund represents funds received and contributions towards the renovation and refurbishment of 7

The Outreach Fund represents legacies received by the church, which have been set aside to fund the various aspects of outreach within the church. The Toddler Fund represents the income and expenditure incurred in the running of a Wednesday and Friday morning Toddlers Group in the church upper hall. Transfer to the general fund is for a donation to the church.

The Open House Fund represents the Donations received, Gifts given out and catering expenses incurred in running this once a month fellowship meeting held in the church upper hall. Transfer to the general fund is for donations to the church.

Unrestricted Funds:

The General Fund encompasses all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.

Deisgnated Funds:

The Designated Assets fund encompasses the net book value of the fixed assets held by the charity

Page 20

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

13. Fund Transfers

Fund Transfers
From General to Fixed Asset
1
From Building to Fixed Asset
1
From Toddlers to General
2
From Open House to General
3
From Open House to Building
4
From Open House to Building
4		 Unrestricted
Funds
£
(1,768)
500
100
-
-		 Designated
Funds
£
1,768
415,765
-
-
-
-		 Restricted
Funds
£
-
(415,765)
(500)
(100)
(100)
100		 Funds
2025
£
-
-
-
-
(100)
100
(1,168) 417,533 (416,365) -

Transfer note 1 - these transfers relate to the movement in fixed assets during the year Transfer note 2 - this transfer relates to a donation given from the Toddlers Group to the Church Transfer note 3 - this transfer relates to a donation given from the Open House Group to the Church Transfer note 4 - this transfer relates to a donation given from the Open House Group to 7 Academy Street Building

14. Auditor's Remuneration

The auditor's remuneration paid to Innes and Partners Limited amounted to £9,600 (2024: £nil) and accountancy services of £2,160 (2024: £900)

15. Donations & Gifts

Donations & Gifts
Tithe Gifts - Institutions
Stonehaven Baptist Church
MAD together Trust
Teach Beyond
Tithe Gifts - Individuals
Claire Brodie
Total Tithe Gifts
Designated Gifts - Instituions
Platform 67
Blythswood Care
Street Pastors
Open Doors
Moray Coast Convention
Searchlight Theatre Co ltd
Children 1st
Other (less than £250)
Designated Gifts - Individuals
Donation to support individual (2025: nil, 2024: 1)
Total Designated Gifts		 2025
£
1,800
240
4,800		 2024
£
1,800
240
-
6,840
-		 2,040
1,250
6,840 3,290
-
1,220
500
-
-
-
-
-		 425
1,345
-
785
500
850
563
200
1,720
-		 4,668
250
- 250
1,720 4,918

Page 21

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

16. Toddler Fund Income & Expenses

16. Toddler Fund Income & Expenses
Income
Takings
Profit on Photographs
Donations towards Hoodies
Expenses
Food
Baby Equipment
Basic Equipment
Printing, Stationery & Photocopying
Ramp
Toys
Easter Eggs
Teddy Bears Picnic
Christmas Toys & Sweets
T-shirts and Hoodies
Cleaning
Catering
Prayer Box
Toiletries
Net income
17.Open House Income & Expenses
Income
Takings
For Blythswood Care
For Academy Street Project
For OMF
For Red Cross
For Moray Council
For CAB
Expenses
Biscuits/Food
For Clan Elgin
For Brian Roby (Free Church)
For Joseph Forson
For Salvation Army
For Blythswood Care
For OMF
For Red Cross
For Moray Council
For CAB		 2025
£
2,096
128
-		 2024
£
2,067
150
115
2,224
-
22
110
-
167
286
-
25
238
-
-
244
-
-		 2,332
206
18
-
30
-
12
21
50
168
317
2
116
25
6
1,092 971
1,132 1,361
2025
£
436
-
-
-
-
-
-		 2024
£
131
50
135
173
112
60
65
436
28
160
65
42
-
-
-
-
-
-		 726
11
-
-
-
-
51
173
112
60
65
295 472
141 254

Page 22

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

Unrestricted
Designated
Funds
Funds
£
£
Income
Donations and Legacies
3
127,260
-
Charitable Activities
4
-
-
Investments
5
6,510
-
Total Income
133,770
-
Expenditure
Charitable Activities
6
101,296
6,500
Total Expenditure
101,296
6,500
32,474
(6,500)
Transfers between funds
735
9,939
Net Movement in Funds
33,209
3,439
Reconciliation of Funds
Total Funds Brought Forward
117,725
460,804
Total Funds Carried Forward
12
150,934
464,243
Statement of Financial Activities for the year ended 31 March 2024
Net income/(expenditure) before gains/(losses)
on investments		 Unrestricted
Designated
Funds
Funds
£
£
Income
Donations and Legacies
3
127,260
-
Charitable Activities
4
-
-
Investments
5
6,510
-
Total Income
133,770
-
Expenditure
Charitable Activities
6
101,296
6,500
Total Expenditure
101,296
6,500
32,474
(6,500)
Transfers between funds
735
9,939
Net Movement in Funds
33,209
3,439
Reconciliation of Funds
Total Funds Brought Forward
117,725
460,804
Total Funds Carried Forward
12
150,934
464,243
Statement of Financial Activities for the year ended 31 March 2024
Net income/(expenditure) before gains/(losses)
on investments		 Unrestricted
Designated
Funds
Funds
£
£
Income
Donations and Legacies
3
127,260
-
Charitable Activities
4
-
-
Investments
5
6,510
-
Total Income
133,770
-
Expenditure
Charitable Activities
6
101,296
6,500
Total Expenditure
101,296
6,500
32,474
(6,500)
Transfers between funds
735
9,939
Net Movement in Funds
33,209
3,439
Reconciliation of Funds
Total Funds Brought Forward
117,725
460,804
Total Funds Carried Forward
12
150,934
464,243
Statement of Financial Activities for the year ended 31 March 2024
Net income/(expenditure) before gains/(losses)
on investments		 Restricted
Funds
£
53,680
3,058
8,384		 Restated
Total
Funds
2024
£
180,940
3,058
14,894
133,770 - 65,122 **198,892 **
101,296 6,500 7,164 114,960
101,296 6,500 7,164 114,960
32,474
735		 (6,500)
9,939		 57,958
(10,674)		 83,932
-
33,209
117,725		 3,439
460,804		 47,284
227,826		 83,932
806,355
150,934 464,243 275,110 890,287

18. Statement of Financial Activities for the year ended 31 March 2024

19. Restatement of Comparatives

We have restated the figures for 2024, and the brought-forward 2023 reserves as the Charity has changed its accounting policy and has adopted the Accruals accounting method in the current year.

Reserves at 31 March 2023
as previously stated
Capitalisation of fixed assets
Depreciation of fixed assets
2023 income as debtors
2023 expenditure as creditors
2023 prepayments
Restated reserves at 31 March 2023
Surplus/(deficit) for the year to 31 March 2024
as previously stated
Capitalisation of fixed assets
Depreciation of fixed assets
Reversal of 2023 debtors
Reversal of 2023 creditors
Reversal of 2023 prepayments
2024 debtors as income
2024 creditors as expenditure
2024 prepayments
Revised surplus for year to 31 March 2024
Revised reserves at 31 March 2024		 General
fund
£
102,211
-
-
11,738
(1,110)
4,886		 Designated
funds
£
-
467,304
(6,500)
-
-
-		 Restricted
funds
£
224,494
-
-
3,332
-
-		 Total
£
326,705
467,304
(6,500)
15,070
(1,110)
4,886
117,725 460,804 227,826 806,355
39,948
-
-
(11,738)
1,110
(4,886)
4,985
(1,020)
4,810		 -
9,939
(6,500)
-
-
-
-
-
-		 48,260
-
(3,332)
-
-
2,356
-
-		 88,208
9,939
(6,500)
(15,070)
1,110
(4,886)
7,341
(1,020)
4,810
33,209 3,439 47,284 83,932
150,934 464,243 275,110 890,287

Page 23

Docusign Envelope ID: 08E67B27-F30D-8348-82C0-E1D569EA7D85

Elgin Baptist Church SCIO

Notes to the Financial Statements for the year ended 31 March 2025

20. Pension Obligations

The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme, previously known as the Baptist Ministers Pension Fund, started in 1925. At the beginning of the financial year, the scheme comprised of a defined benefits scheme which was closed to future accrual on 31 December 2011 and a defined contribution plan which was opened in January 2012.The assets of the Scheme are held separately from those of the Employer and the other participating employers.

For the current financial year, the pension provision for members of the Scheme is being made through the Defined Contribution (DC) Plan. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. Furthermore, members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.

In October 2024, the insurance company Just Group completed a buy out of the liabilities of the closed defined benefit scheme. From that date any remaining liability of the participating scheme members to defined benefit scheme ceased and the £1 per month deficit contributions payable by the participating employers which were agreed in the recovery plan approved in August 2022 also ceased from that date. Administration of the closed defined benefit scheme transferred from the pension trustees to Just Group from that date.

21. Capital Commitment

Capital Commitment
Total Total
2025 2024
£ £
Contracted but not provided for in the financial statements 187,565 -

22. FRC Ethical Standard - Provision available for small entities

In common with many other organisations of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

Page 24