REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Grace Church Larbert |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Grace Church Larbert |
Grace Church Larbert |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Grace Church Larbert |
Reference and Administrative Details |
for the Year Ended 31 December 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Drummond Laurie CA |
Unit 5 Gateway Business Park |
Beancross Road |
Grangemouth |
Stirlingshire |
FK3 8WX |
Grace Church Larbert (Registered number: SC551313) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 |
Objectives and principal activities |
The principal charitable purpose of Grace Church Larbert is the advancement of Christian religion. |
The charitable purposes are those registered with the Office of the Scottish Regulator (OSCR) and detailed in the GCL constitution document. |
Activities and public benefit |
The public preaching, teaching and pastoral support carried out by the Ministry Team of Andrew Randall and Andrew Ritson. Pastoral Care is also provided by the Elders and Deacons of GCL. |
The ministry of the gospel, to children and young people in church, is done through the work of volunteers to Grace Kids (nursery/primary), Ignite (early secondary) and Illuminate (late secondary and young adults) and by 5th Larbert Boys' Brigade Company. |
Everyone working with children and vulnerable people in GCL do comply with the statutory legal requirements on Safeguarding and certification, this includes all the Trustees. |
All members of GCL are part of a designated care group. |
Support of other charities in the UK |
Support for other charities: Larbert Churches Youth Trust (LCYT); Navigators UK, OM (One Mission) UK, The Barnabas Trust, The Blythswood Trust's Christmas Shoe Box appeal, the Christian Institute, International Mission to Jewish People, Overseas Missionary Fellowship (OMF),Tearfund UK, Bo'ness Food Pantry, Street Pastors (Stirling) and the International Presbyterian Church. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Various Christian activities are under taken that are an essential part of the spiritual care for the members of the church, Public Worship, preaching. meeting for prayer, fortnightly house-based Bible studies called Connect. |
GCL maintains a website for information, podcasts and downloadable resources. |
FINANCIAL REVIEW |
Financial position |
The financial resources received by GCL in 2023 remain sufficient. This is detailed in the accounts provided. Financial surpluses are shown in all accounts. From these resources the church funds all its work, staff and employment costs, hall hire, operating costs and principal charitable activities. |
GCL continues to pursue the object of providing funds for a church building. |
Reserves policy |
The Reserves policy operates to ensure that the church has means to cover three months operating costs. |
The Trustees make donations to other charities following budget planning, listed above. All the agreed financial commitments to other charities for the year were met. |
The Premises Fund is a restricted fund, and is used to hold the contributions for the Building for the Future Appeal (BftF). The funds for such, are jointly held in the CAF Bank account and the Shawbrook Bank. As detailed in the figures below. |
The full details of GCL accounts and activities are provided in the accountant's inspection report attached. |
Grace Church Larbert (Registered number: SC551313) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
GCL is a company limited by guarantee, registered in Scotland under company number SC551313 and a charity registered in Scotland under charity number SC047046. |
The structure, governance and management of the company is set out in the Articles of Association. There are currently seven Trustees, who are therefore, Directors of the company. |
Main Office Holders of the Charity are stated below: |
The Minister: Andrew Randall |
The Chair of GCL is Morgan Wheeler: This appointment, is required to be made annually. |
Treasurer: Sam Shields (until November 2023) Ian Fannon (from November 2023) |
The Charity employs Andrew Randall as Minister and employed Thomas Andrew Ritson from September 2020, as full-time Minister-in-Training for 3 years, until August 2023, and then as an Assistant Minister from 1st September 2023. |
The management and financial oversight of the charity by the Trustees, was conducted at monthly meetings. A minute is taken at all meetings which includes a financial report, which is distributed for approval. Future spending obligations are determined at an annual budget meeting. The accountant's inspection report for 2022 was made available to the Trustees. |
Induction and training of new trustees |
The trustees review the make up of the board on a regular basis to ensure that there is a comprehensive representation of the knowledge and expertise the charity requires to carry out its charitable purpose and fulfil the governance requirements of the board. |
Risk management |
The trusteess have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Grace Church Larbert |
I report on the accounts for the year ended 31 December 2023 set out on pages five to eleven. |
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 the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and 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 connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
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. |
Graeme Deans |
The Institute of Chartered Accountants of Scotland |
Drummond Laurie CA |
Unit 5 Gateway Business Park |
Beancross Road |
Grangemouth |
Stirlingshire |
FK3 8WX |
4 July 2024 |
Grace Church Larbert |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,218,596 |
Grace Church Larbert (Registered number: SC551313) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 182,658 |
Restricted funds | 1,035,938 |
TOTAL FUNDS | 1,218,596 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Grace Church Larbert |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the 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 that 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 to activities on a basis consistent with the use of resources. |
Tangible fixed assets and depreciation |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Church Property | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within 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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
Grace Church Larbert |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Deposit account interest |
3. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Charitable Activities | 66 | 7,198 | 7,264 |
Support costs, included in the above, are as follows: |
31.12.23 | 31.12.22 |
Charitable | Total |
Activities | activities |
£ | £ |
Bank charges | 66 | 91 |
Accountancy and legal fees | 7,198 | 1,584 |
7,264 | 1,675 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
The trustees' were paid total remuneration of £67,055 for the year ended 31 December 2023 (2022: £45,996). |
Trustees' expenses |
During the year the following trustees received reimbursement of expenses totalling £4,885 (2022:- £2,095):- |
Rev. A M Randall £3,817 (2022:- £2095) |
Rev A Ritson £978 (2022:- £Nil) |
I Fannon £90 (2002:- £Nil) |
Expenses reimbursed were in relation to presbytery expenses,training, motor, travel, stationary and treasurer's expenses. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Minister | 1 | 1 |
Ministerial support | 1 | 1 |
Grace Church Larbert |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 168,468 | 1,006,678 |
TOTAL FUNDS CARRIED FORWARD | 182,658 | 1,035,938 | 1,218,596 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Church | and | Computer |
Property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Social security and other taxes |
Other creditors |
Accrued expenses |
Grace Church Larbert |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 182,659 | 14,942 | 197,601 |
Restricted funds |
Premises Fund | 1,035,938 | 16,322 | 1,052,260 |
TOTAL FUNDS | 31,264 | 1,249,861 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 141,056 | (126,114 | ) | 14,942 |
Restricted funds |
Premises Fund | 21,827 | (5,505 | ) | 16,322 |
TOTAL FUNDS | ( |
) | 31,264 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 168,468 | 14,190 | 182,658 |
Restricted funds |
Premises Fund | 1,006,678 | 29,260 | 1,035,938 |
TOTAL FUNDS | 1,175,146 | 43,450 | 1,218,596 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 124,382 | (110,192 | ) | 14,190 |
Restricted funds |
Premises Fund | 29,260 | - | 29,260 |
TOTAL FUNDS | 153,642 | (110,192 | ) | 43,450 |
Grace Church Larbert |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 168,468 | 29,132 | 197,600 |
Restricted funds |
Premises Fund | 1,006,678 | 45,582 | 1,052,260 |
TOTAL FUNDS | 1,175,146 | 74,714 | 1,249,860 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 265,438 | (236,306 | ) | 29,132 |
Restricted funds |
Premises Fund | 51,087 | (5,505 | ) | 45,582 |
TOTAL FUNDS | 316,525 | (241,811 | ) | 74,714 |
11. | RELATED PARTY DISCLOSURES |
12. | RESTRICTED RESERVES |
Premises Fund :- Used for the purchase and providing of premises |