2024-05-31-accounts

TAKE HOLD CHURCH TRUSTEES. ANNUAL REPORT AND ACCOUNTS For the period ended 31 May 2024

CONTENTS PAGES Charity Information Trustees, Annual Report Independent Examiner's Report to the Trustees Receipts and Payments Account Statement of Financial Balances Notes to the Financial Statements 10-12 TRUSTEES, ANNUAL REPORT AND ACCOUNTS I I

CHARITY INFORMATION Charity name Take Hold Church SCIO Charlty number SC052537 Charws prfrKlpal address 16 Royal Exchange Square, Glasgow Gl 3AG Charitys place of worship Saint Stephen's Church, 105 St Stephen Str￿[ Edinburgh EH3 SAB Narnes of the charlty trustees Lead Pastor Type of governing document Constitution Web httpsJ/takeholdchurch.com/ Banking Virgin Money 83 George Str*t Edinburgh EH2 3ES TRusfEEg ANNUAL REPORT AND ACCOUWSI 2

TRUSTEES. ANNUAL REPORT The trustees present their annual report and financial accounts for the period ending 31 May 2024. The charitsls constitutional form date was 9 May 2023 and this report reflects the chariws initial year of activitie& This report has been prepared in accordance with the requirements of Charities and Trustee Investment {Scotlandl Act 2005 and Charities Accounts {Scotland} Regulations 2006 (as amended}. Additional guidance for the preparation of this report was provided byThe Scottish Charity Regulator {OSCRI, Trustees, Annual Repo￿ Guidance and Good Practice and at www.oscr.org.uk I I Charltable purposes 6.1 The SCIO will promote, advance and further Charitable purposes primarily by working to encourage and promote conduct church planting in Scotland and with that it will evangelize. spreading the word of Christianity, while providing mentoring, training, and financial support to new churches in Scotland. By conducting this activity, the SCIO will assist in furthering the message of Jesus Christ, and allow for more physical places of worship. thus improving individuals, quality of life. 6.2 For the purposes of the 2005 Act, the following charitable purpose is li) particularly relevant and {ii) is the charitable purpose identified as applicable from section 7 of the 2005 Act:_ 6.2.I the advancement of religion. 21 Trustee rKruitment and appolntment An interview with the CEO appoints trustees to ensure their willingness to meet the allotted amount of times annually, oversee legal requirements provide moral and financial accountability, and overall guidance. They are vetted by a third party to ensure there is no conflict of interest 31 Summary of the main activities and achlevements of the charlty Ision and mlsslon We are building a new community of faith for everyone in Edinburgh. TRUSTEES, ANNUAL REPORT AND ACCOUNTS | 3

Cultural values and achievements We Pursue G¢xl through We believe that worship is the daily Worshlp and studying His offering of our Irrfes and God's Word Word purifies and energizes us to be a part of His restoration plan. The communty of faith at Take Hold Church is built around our weekly worship gatherings on Sunday afternoon& Our first worship seNice as a church was 3 September 2023 at the historic St Stephen's Church in Stockbridge. We hosted monthly worship services from September until February, until we began weekly worship ser￿ice& Our worship gatherings were the primary means of upholding ourvalue of worship and studying God's Word together. Our services are welcoming, uplifting. and full of hope for anyone new or old to the Christian faith. We Pursue We will wtthhold nothing for the one who Whole-Hearted Livlng is worthy of everything. Take Hold Church is committed to pursuing a life of wholeness as community as we live out the abundant life Jesus promised. Throughout the year, we hosted many community events free to the public, including park parties with inflatables and activities free coffee and food, and other giveaways. These community events and other meet-ups were opportunities when we experienced whole-hearted living as a church. We Practice Generoslty We will create a culture that goes beyond what is asked or expected. We will not settle for minimum investment or returns in expanding God's Kingdom and how V￿ treat other& Take Hold Church practiced many acts of generosity during this year of operation. We hosted many community events to bless our neighborhoods in the city of Edinburgh with acts of kindness and care. With every community evenL our outreach and acts of kindness came with a smile. a word of V￿lcOme, and an invitation to visit with our church community. Our church partnered with Edinburgh City Mission to help serve New Scots who have found asylum in Scotland. We strive to not only be tangibly generous but to reflect a generous God who always welcomes those who desire to come near. TRu￿EES. ANNUAL REPORT AND ACCOUNTS1 4

We Speak Life We will speak life and belief and combat a culture of cynicism and skepticism. We will treat people as God'5 masterpieces full of potential and promi*. During this year of activities we spoke life and hope over anyone who attended our Sunday worship seprfice4 communty meet-ups in local pubs and restaurants and in other important segments of our cty. We were able to appreciate the teachers and administrators of two local schools with gifts and notes of appreciation, and to simply say thank you, for a job V￿11 done. We ￿￿nt everyone in Scotland to experience the life and hope available to them, as the God of hope alv4ays offers Strength, help, and hope amid every challenge. 0￿corne of activitles 2023-2024 was a year of significant growth and diligent efft)rt to pursue Take Hold Church's charitable purposes vision and mission, and cultural values. The charity was created, our S￿erns and processes were established, vrfe secured a regular meeting space, and began regular gatherings for V￿rShip. We engaged the community near and far and blessed. welcomed, befriended. and invited everyone and anyone to belong in our community. Year one was a tremendousyear offorward progress. With our vision always before us we anticipate continued growth and health, pursuing a goal of improving individuals, quality of life through the addition of many more churche& It's through this vision accomplished where anyone across Scotland can experience the love and hope offered through Jesu& 41 financial Revlew For the period ended 31 May 2024, our financial position is as follows. Income Total Income for the peri￿ was £58,747.42 Income of £53,235.95 VRS received as grants over the course of the operating period. We experienced steadily increasing income from the donations of individuals from within our growing church community. During the year, we applied to HMRC to become Gift Aid eligible for applicable donations. In May 2024. we obtained approval to receive Gift Aid for qualifying donations. Expenditures Total Expenditures for the period were £2734&0I. The largest categories of expenditures were Payroll TRUSTEES, ANNUAL REPORT AND ACCOUNTS I S

Expenses from church staff1£12,899.671 and Worship Leader Costs1£8.475.001. Take Hold Church became a licensed Visa Sponsor through the UK Home Office and had expenses to obtain this licensing l£1.572.001. Take Hold Church had a surplus of £31,1￿07.47 (net operating income) for the year. Our financial position is one of health entering the next year. as we have carefully managed our budgeted expenses and continued to diligently steward the income of the church. Surplus / Deficit Policy on reserves It's the policy of the Trustees to hold one to two months of budgeted expenditures as funds in reserve to cushion against unforeseen decreases or inconsistencies in income. Take Hold Church has the commitment of grant funds from our parent church which promdes financial stability in our initial years of start-up as local church donations increase to a sustainable level. 51 Summary and slgnature This annual report and the attached accounts presents Take Hold Church's initial year of activities. Signed by order of the trustees. Title.. Ifd .?rJL ,J (I Date: TRUSTEES, ANNUAL REPORT AND ACCOUNTS |

Take Hold Church SCIO Independent Examlnerfs Report to the Tn￿tee9 of Take Hold Church SCIO Period ended 3181 May 2024 Independent Examlnerfs R•portto th• Tru•tee8 of Take Hold Church SCIO I rewrt on the accounts of the charity for perknd erKJed 319t May 2024. Respectlv8 responsiblllti05 of tru6toe8 and examlnar The charws trustees are responsbi le for the preparatlon of the a￿Unts In accordance with the temis of the Charities and Truste8 Investment (Scoland) Act 2005 and tha Charitles Accounts {Scotl8nd) Regulations 2006 (as arnerK￿). The Charfty trustees Cor￿ld8rth8t the audit requir&nent of Regulation 10(1) (d) of the 2006 Accounts Regulation8 does not appty. It Is my reSpO￿lb]lIty to examim the accounts as required under section 4411) (c) ofthe Act and to stat8 whether particular matters have come to my allenlion. Ba818 of Ind•p¢ndgnt oxamlnevs statem My examinalion18 cathed out In 8(xordance wlth Regulation 11 of the 2006 Accounts R8gulalions. An examin8tion incI￿leS a review of the accounting records kept by chanty and a comparison of the accounts presented wilh those records. It also includes consideration of any unusual items or disclosuTes in the accounts, and seeks explanatton$ from the trustees con￿ming any suth mattern. The pr(￿lureS undertaken do not provide all lh8 evidenc8 that would be required in an audlt. and consequenty I do not express an audii opinion on the view giv￿ by th8 accounts. IndeperKlent eumlnevg statement In the course of my examination. no rnatter has come to my attentlon which glves me reasonable cause to believe that in any material tespect the reqU7￿ments. to keep accounting records In accordance wlth Section 44(1) (a) of Ihe 21x15 Act and Regulatlon 4 of the 2006 Accounts Regulatiorvs to prepare accounts which accord wilh lh8 accounting records and comply wilh Regulation g of the 2006 Accounts Regulatlons N￿ne.. Addre 2Ll2(2¥

RECEIPTS AND PAYMENTS ACCOUNTS Unrestrieted Restricted Funds Funds Total Funds 2024 Totsl Funds 2023 Incoming Resources Incoming resources from generating funds- Donation 5,511 SS11 Activities for generating funds Investment income Other incoming resources 53,236 53,236 Total Incoming Resources 747 ¥747 Resources Expended Charitable activities 27346 27346 Governance costs Total Resources Expended Excess Recelpts over payments before transfers ,40i ,401 Transfers between fund5 Excess Recelpts over Payments for the year .401 ,40i TRu¥fEES' ANNUAL REPORT AND ACCOUNTS | 8

srATEMENT OF FINANCIAL BALANCES 21Y24 Unrftstrfct￿ Restrfcted Endowment Total Total Funds Funds Funds Bank & Deposlt Balan¢e Balances brwght forward Movaments In Year Excess Receipts over Paymenrs .401 ./40i Bank & Deposlt alancas Carrl•d Forward 31,401 The rK>tes on pages10 to12 fom) part of the Financial Statements. The Accounts were approved by the Trustees of Take Hold Church on: Date: And si ned for on behalf of the Trustees ofTake Hold Church by. L£Lkc TRUSTEES. ANNUAL REPOFIT AND ACCOUNTS |

NOTES TO THE FINANCIAL STATEMEKrs These accounts are prepared on the Receipts and Payments basis in accordance with the Charities arKI Trustees Investment {Scotland) Act 2005 and the Charities Accounts Iscotland) Regulations 2006 (as amended). Fund ￿oUntIn Unrestrlcted Funds are those funds vthich can be used at the discretion of the trust￿ in the furtherance of the objectives of the charity. Restrlcted Funds are those funds which can only be used for specific purposes as specified by the donor or when the fvnds have been raised for a specific purpose. Details of the natu￿ and pUr￿)se of the charity are given in the narrative section. pages 3-6. Z Movement of Funds As at Ist Receipts Payments Transfern As at 31st Jun• 2023 May 2024 Unrestrirted Funds General 58.747 (Z7346) 31,401 TOTAL ¥747 (ZIW•6) reimbursed £389.87 in expen TRusfEES' ANNUAL REPO1￿ AND Accoufvrrs 110

NOTES TO THE FINANCIAL STATEMENTS 4a. Analysis of Receipts and Payments Take Hold Church SCIO Finanaal kn"vth"es JLM 20rJ. klay 2024 TOTL S2￿50 s￿47 100.c 8T2.37 Visfting T•wn A•¢wAd 74TAI 47 TOTfvi 102.0) KldAChLtrth Ew 81.79 i.on.40 RoiiifyrD•nt Tu 125Z.8¥ 11352.99 12.05 16&82 Ifp).78 IW.67 l.S72.NJ 75.C 435 05 woT￿lIp PTDlliarnnv•GoAIB NEI OPEBATINts INCOkÉ •Js 21 B8 NEI OTHER W4COME NET KLWEIIEXPENfATUAEI ¢.1 TRUSTEES, ANNUAL REPORT AND ACCOUNTS 111

NOTES TO THE FINANCIAL sfATEMENTS Grart Detalled Analysls Take Hold Church Inc (American Parent Church) gave a total of £53,2￿95 over 5 payments in grantfunding. S. Donations to 3rd Partles as Part of Charltabk Actlvltles Donations made to other Christian charities, where the church's charitable objective of mission can be fulfilled through one of these organisations and have much greater impact than our own church working in isolation. Hope City Church Edinburgh- For their Corner Room project- £600.00 & Gifts to non-christian Organlsatlons During the period- none 7. Collectlons for 3rd Parties treated as Agency Collectlons No furbds were Teceived for of this kind as all funds were recorded via the receipts and payments account on this page in note 4. TRUSTEES, ANNUAL REPORT AND ACCOUNTS112