2024-10-31-accounts - True Jesus Church Aberdeen

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TRUE JESUS CHURCH ABERDEEN

FINANCIAL STATEMENTS

FOR PERIOD

5 March 2024 to 31 October 2024

Charity Number SC0053160

WHITELAW WELLS Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT

TRUE JESUS CHURCH OF ABERDEEN

FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

CONTENTS	PAGE
Members of the Board Annual Report	2 - 6
Independent Examiner’s Report	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10 - 14

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TRUE JESUS CHURCH OF ABERDEEN

MEMBERS OF THE BOARD ANNUAL REPORT

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

The Members of the Board are pleased to present their first annual trustees’ report together with the financial statements of the charity for the period 5 March 2024 to 31 October 2024.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Trust Deed, and 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

The objectives of the Church are as follows:

To worship the one true God in accordance with the Old and the New Testaments of the Holy Bible;
To proclaim the complete gospel of the salvation of the Lord Jesus; to keep and uphold all teachings in the Bible;
To prepare for the Second Coming of the Lord Jesus.

These objectives are met through regular meetings for worship where they are preached to the congregation.

Volunteers

Many volunteers give up their time to help out at the church, particularly at weekends and in the evenings. The Board is greatly indebted to these volunteers for their commitment and support.

ACHIEVEMENTS AND PERFORMANCE

During the year the church met regularly for worship and carried out various activities in pursuit of the above stated aims. Regular events and developments of note in the year include:

Regular services every Saturday 11:30 – 16:30
RE Lower Primary, Upper Primary and Intermediate Youth Classes every Saturday 10:00 – 11:00
Bible study once a month Tuesday 13:00 – 14:00

FINANCIAL REVIEW

The net income for the year, which are the operational reserves of the Church, was £20,505.

The church received total income of £32,474, including £2,399 transferred to the charity from the previous unincorporated organisation on being granted charitable status.

At the balance sheet date the unrestricted reserves were £13,390. There were restricted reserves of £7,115.

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TRUE JESUS CHURCH OF ABERDEEN

MEMBERS OF THE BOARD ANNUAL REPORT

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

Principal sources of funding

The Church receives the majority of its funding from those in the fellowship by way of weekly offerings and from general donations. The church does not organise specific activities for the purpose of raising income.

Reserves Policy

The Reserve fund represents the unrestricted and restricted funds arising from operating results. The unrestricted funds represent the free reserves of the church. The Church Board have examined the requirement to maintain free reserves and are aware that they are holding a relatively large amount of unrestricted funds compared to current outgoings. However, such funds are necessary for the continued future expansion of the church.

Investment Policy

The reserves are currently held in cash, which the Church Board feel is appropriate given the continuing volatility of the stock market. The Board will keep this policy under review.

Risk Management

The Members of the Board have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. The Trust has strict controls for the handling of cash and assets of the charity, this includes having to abide by the regulations and guidelines set by the True Jesus Church in UKGA that governs all Churches and places of worship affiliated to the True Jesus Church in the UK. The Board are satisfied that systems are in place to mitigate the exposure to the major risks.

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TRUE JESUS CHURCH OF ABERDEEN

MEMBERS OF THE BOARD ANNUAL REPORT

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

PLANS FOR FUTURE PERIODS

The Church plans to continue the regular activities outlined above subject to satisfactory income arrangements and is considering renovating the premises.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status of Charity, Governing Document and Affiliation

The Church, is an unincorporated association governed under the rules of its updated constitution and was recognised as a charity by the Office of the Scottish Charity Regulator, under the charity number SC0053160 on the 5 March 2024. The Church is affiliated to the General Assembly of the True Jesus Church (U.K).

Management and Appointment of the Church Board and Executive Committee

At the Annual General Meeting of Members, up to eleven church members are elected to form the Church Board and to carry out the administrative functions of the Church. Each member of the Board serves for a period of three years but is eligible for re-election for any number of terms. All Board members are honorary. Three of the board members serve as the Executive Committee Members of the three sections: Religious Affairs, General Affairs and Financial Affairs.

Organisational Structure

The members of the Church are any persons baptised in the True Jesus Church and they are eligible to speak, vote, elect and be elected to the Church Board at the General Meeting of Members.

The Church Board are responsible for the management of the Church and this is executed by the Church Executive Committee.

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TRUE JESUS CHURCH OF ABERDEEN

MEMBERS OF THE BOARD ANNUAL REPORT

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024 LEGAL AND ADMINISTRATIVE INFORMATION Charity registration number SC0053160 Registered charity name True Jesus Church Aberdeen The members of the board Registered address 8 Sunnybank Road Aberdeen AB24 3NG Independent Examiner Whitelaw Wells Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT Bankers Virgin Money 1 Queens Cross Aberdeen AB15 4XU

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TRUE JESUS CHURCH OF ABERDEEN

MEMBERS OF THE BOARD ANNUAL REPORT

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

RESPONSIBILITIES OF THE MEMBERS OF THE BOARD

The Members of the Board are responsible for preparing a trustees’ annual report and 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 charity trustees to prepare financial statements for each year which show 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 the financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Members of the Board are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

The Members of the Board are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board on 16 July 2025 and signed on their behalf by

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TRUE JESUS CHURCH OF ABERDEEN

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

I report on the financial statements for the period 5 March 2024 to 31 October 2024 set out on pages 8 to 14.

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) (a) to (c) 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 report

My examination was 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 Trust and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any 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:
a) to keep accounting records in accordance with Section 44(1) (a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the 2006 Accounts Regulations (as amended); and
b) to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (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.

Whitelaw Wells Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT Date: 16 July 2025

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TRUE JESUS CHURCH OF ABERDEEN

INCOME AND EXPENDITURE ACCOUNT (INCORPORATING STATEMENT OF FINANCIAL ACTIVITIES)

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

Note
Unrestricted Restricted
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
23,165
9,309

Total Income
2
23,165
9,309
EXPENDITURE ON:
Charitable activities
9,775
2,194
Total Expenditure
3
9,775
2,194
NET INCOME
13,390
7,115
Transfer between funds
-
-
Net movement in funds
13,390
7,115
RECONCILIATION OF FUNDS
Funds brought forward at
5 March 2024
-
-

Funds carried forward at
31 October 2024
13,390
7,115

2024
Total
£
32,474

32,474
11,969
11,969
20,505
-
20,505
-
20,505

The church has no recognised gains or losses other than the results for the year as set out above.

All activities relate to continuing operations.

The notes on pages 10 to 14 form part of these financial statements.

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TRUE JESUS CHURCH OF ABERDEEN

BALANCE SHEET

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

Note FIXED ASSETS Fixtures, fittings and equipment CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS:amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Unrestricted: General Fund 8 Restricted Funds 8	£ 1,496 21,386 22,882 (2,700)	2024 £ 323 20,182
		20,505
		13,390 7,115
		20,505

These financial statements were approved by the members of the board on 16 July 2025 and are signed on their behalf by:

The notes on pages 10 to 14 form part of these financial statements.

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TRUE JESUS CHURCH OF ABERDEEN

NOTES TO THE FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

1. ACCOUNTING POLICIES

Basis of accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the Charities and Trustees Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) and 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 (FRS102) (effective 1 January 2019).

The charity has taken advantage of the exemption from the requirement to prepare a Statement of Cash Flows as permitted under FRS 102 and the Charities FRS 102 SORP.

The charity constitutes a public benefit entity as defined by FRS 102.

The Members of the Board consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The going concern assessment covers a period of at least 12 months from the date of signing of these financial statements.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Offerings are included in the year in which they are receivable.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Expenditure on charitable activities includes the costs incurred by the charity in delivery of its activities and services to its beneficiaries and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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TRUE JESUS CHURCH OF ABERDEEN

NOTES TO THE FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

1. ACCOUNTING POLICIES (cont.)

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which support the Trusts programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Fixed assets

Tangible fixed assets are initially recorded at cost. Items are not capitalised if expenditure is less than £250. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets over their expected useful lives on the following bases:

Fixtures, Fittings & Equipment

25% reducing balance

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.

Unrestricted funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds

Designated funds are funds designated by the board for a specific purpose.

Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor.

2. INCOME

Unrestricted Restricted Funds Funds £ £ Donations and Legacies Offerings 20,766 - Donation from the previous unincorporated organisation * 2,399 - Sundry Income, gifts and donations - 9,309 23,165 9,309	2024 Total £ 20,766 2,399 9,309
	32,474

Income was £32,474 of which £23,165 was unrestricted and £9,309 was restricted.

The donation from the previous unincorporated organisation represents the balance of assets held by the Aberdeen Place of Worship prior to obtaining charitable status.

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TRUE JESUS CHURCH OF ABERDEEN

NOTES TO THE FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

3. EXPENDITURE Unrestricted Restricted Funds Funds £ £ Church Activities Food & consumables 558 - Utilities 5,152 - Repairs & maintenance - 2,086 Insurance 344 - Travel & subsistence 1,121 - Depreciation - 108 Legal fees 200 - Governance: Independent Examination cost 2,400 - 9,775 2,194	2024 Total £ 558 5,152 2,086 344 1,121 108 200 2,400
	11,969

Expenditure for the period was £11,969 of which £9,775 was unrestricted and £2,194 was restricted.

4. STAFF COSTS

The General Assembly of the True Jesus Church (U.K.) employs 7 ministers who visit churches and prayer houses across the U.K. and in other parts of Europe, including True Jesus Church of Aberdeen. The ministers’ salary costs are met entirely by the General Assembly and True Jesus Church of Aberdeen has no regular minister.

No employee earned more than £60,000 per year.

5. MEMBERS OF THE BOARD REMUNERATION AND RELATED PARTY TRANSACTIONS

There were no reimbursed expenses to the members of the board in the year. No board member received any remuneration in the year.

6. DEBTORS: Amounts due in less than one year

2024 £ Prepayments 1,496

1,496

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TRUE JESUS CHURCH OF ABERDEEN

NOTES TO THE FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

7. CREDITORS : Amounts due in less than one year

Accruals	2024 £ 2,700 2,700

8. MOVEMENT IN FUNDS

Unrestricted Funds General fund Restricted funds Church building maintenance fund Fixed assets fund TOTAL FUNDS	At 5 March 2024 £ - - - - - -	At 31 October Income Expenditure Transfers 2024 £ £ £ £ 23,165 (9,775) - 13,390 23,165 (9,775) - 13,390 9,309 (2,086) (431) 6,792 - (108) 431 323 9,309 (2,194) - 7,115 32,474 (11,969) - 20,505

Purpose of restricted funds

The church building maintenance funds represents donations received towards the repair of the existing church property. The transfer represents restricted funds used to purchase equipment for use by the church.

The fixed assets fund fund represents the net book value of fixed assets purchased using restricted donations.

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TRUE JESUS CHURCH OF ABERDEEN

NOTES TO THE FINANCIAL STATEMENTS

PERIOD 5 MARCH 2024 TO 31 OCTOBER 2024

9. NET ASSET RECONCILIATION

NET ASSET RECONCILIATION
Unrestricted Restricted £ £ Tangible fixed assets - 323 Net current assets 13,390 6,792 As at 31 October 2024 13,390 7,115	2024 Total £ 323 20,182
	20,505

10. POST BALANCE SHEET EVENT

At the balance sheet date, True Jesus Church of Elgin owned the property in which True Jesus Church of Aberdeen operates from. During the year ended 31 October 2025 True Jesus Church of Elgin gifted this property to True Jesus Church of Aberdeen.

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