REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Harvest Bible Chapel Glasgow |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Harvest Bible Chapel Glasgow |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
Harvest Bible Chapel Glasgow |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Notes to the Financial Statements | 9 |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
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 March 2024. 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 aims |
The objects of the charity are as follows: |
To advance the Christian faith in accordance with the Statement of Purpose, Doctrine and Values in Glasgow and also throughout Scotland and in the rest if the World by all means consistent with the teachings of the Christian Bible including worship, ministry, mission, evangelism, prayer, witness, education, training and mentoring, counselling and support, community service and the support of agencies and individuals and other charitable organisations involved in Christian missionary work, church planting/building and the relief of poverty or other social needs. |
The charity's memorandum and articles of association instruct the Trustees to use the income in promoting these objects and allows the Trustees to also use the capital where appropriate. |
Establish and populate Sunday services with a view to engaging attendees in Christian service and supporting activities through charitable giving. Form partnerships with organisations working in compassion ministry and seek areas to serve those organisations. Develop relationships with similar organisations internationally with a view to serving in other countries as we are resourced to do so. Provide a programme that incorporates mentoring, Christian education and promotes Christian growth. |
Public benefit |
The charity meets the definition of a public benefit entity under FRS 102. |
Grantmaking |
Grants are payable to institutions and individuals at the discretion of the Trustees. |
Volunteers |
Our activities are entirely dependent on volunteers though not for income generation. They have opportunity to volunteer and serve in whatever particular projects we are investing in at the time. Most of these projects are one off projects so volunteering is on a project by project basis. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements. |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable Activities |
In many ways this past year has been a year of re-establishing activities and connections post Covid. This involved a return to a number of activities that had been impossible or curtailed by isolation and distance. |
Our second Rooted Conference was a great success. Building on a discipleship and church planting theme it was well attended and was a major boost as the event became something of a gathering point for our vision. This financial year has also seen Rooted Churches established as a church planting network and as an SCIO. This will now facilitate church planting to be done in partnership with other churches of shared conviction. Mark Boys came onto the team to serve as Training Pastor with a view to helping develop a network and framework for church planting in Scotland. |
High Five made a welcome return in a more full format. Again this was very well attended and we were able to invite and welcome a number of children from the local community. This, alongside re-establishing connection with Mosspark Primary School is of high value to us. Our Ministry Apprentice programme benefitted from adding two further people. Heidi Boyle has added significant administrative benefit and was key in the conference organisation as well as handling matters around the property and leading Harvest Kids. Lynsey Doran is giving a day |
per week to help us serve International families in the community. In addition to them Michael Alford continued in his development with theological training through Crosslands and in taking on more preaching responsibility. |
An extension of this learning in community aspect of our aims was the introduction of Deeper Classes. This allowed around 30 people in our church to experience lay level theological education. They covered a number of modules including Church History, Doctrine and Reading and Understanding your Bible. |
FINANCIAL REVIEW |
Annual Review of Activities |
The financial statements show the overall position of the charity at the period end together with the income and expenditure for the period. The financial statements are presented for the 12 months to 31 March 2024. |
Income received during the year totalled £199,365 (2023 - £274,238) and expenditure totalled £202,124 (2023 - £197,452). A deficit in funds of £2,759 was generated compared to a surplus of £76,786 in 2023. |
Reserves policy |
It is the policy of the charity to maintain sufficient funds to support the charity's current activities. The general fund had reserves totalling £160,964 (2023 - £146,487) which are available for general purposes. The restricted building fund has reserves totalling £130,314 (2023 - £125,770) as at balance sheet date. The restricted building fund reserves are only distributable on the sale of the assets. The restricted salary fund has reserves totalling £Nil (2023 - £17,711l). The restricted Church Planting fund has reserves of £7,473 (2023 - £7,473). The restricted Church house fund has reserves of £40,813 (2023 - £Nil). |
FUTURE PLANS |
These include a women’s retreat event, a church leadership training day as well as an expansion of the Deeper Classes. We continue to play our part in Rooted Churches and aim to have a church planting resident in place come September 2024. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Harvest Bible Chapel Glasgow is a registered company limited by guarantee. The charity was formed under a Memorandum and Articles of Association which established its objects and powers and is governed under its Articles of Association. The Articles of Association was renewed by special resolution on 8th November 2017. The charity was incorporated on 11 August 2009, in Scotland, with company number SC363808 and was registered with OSCR as having charitable status from 13 August 2009, with the charity number being SC040749. |
Recruitment and appointment of new trustees |
The Memorandum and Articles of Association place no limit on the maximum number of Trustees the charity must have but do limit the minimum number of Trustees to 3. The policies of the charity for the recruitment and appointment of Trustees are set by the Memorandum and Articles of Association. All Trustees must subscribe and adhere to, in belief and lifestyle, the Statement of Beliefs as recorded in the Articles of Association. |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
The day to day running and management of the Trust is the ultimate responsibility of the Trustees who are supported by volunteers and remain in regular contact with each other. All financial decisions concerning charitable activities are made by the Trustees collectively. |
Key management remuneration |
S G Hamilton being the Senior Pastor and Trustee of the charity is entitled to remuneration under article 5.3 of the Memorandum and Articles of Association. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Alastair Stewart BA (Hons) CA |
Gillespie & Anderson |
147 Bath Street |
Glasgow |
G2 4SN |
Bankers |
Barclays Bank Plc |
1 Churchill Place |
London |
E14 5HP |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Harvest Bible Chapel Glasgow for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- select suitable accounting policies and then apply them consistently; |
- observe the methods and principles in the Charity SORP; |
- make judgements and estimates that are reasonable and prudent; |
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Independent Examiner |
Independent Examiner, Alastair Stewart BA(Hons) CA, of Gillespie & Anderson, Chartered Accountants, has expressed a willingness to continue in office. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
I report on the accounts for the year ended 31 March 2024 set out on pages six to eighteen. |
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. |
Alastair Stewart BA (Hons) CA |
The Institute of Chartered Accountants of Scotland |
Gillespie & Anderson |
147 Bath Street |
Glasgow |
G2 4SN |
22 November 2024 |
Harvest Bible Chapel Glasgow |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 | ( |
) |
Charitable activities |
Investment income | 3 |
Total | ( |
) |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 18 | (19,228 | ) | 19,228 | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 342,323 |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Stocks | 12 |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 15 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 18 |
Unrestricted funds: |
General fund | 160,964 | 146,487 |
Restricted funds: |
Building fund | 130,314 | 125,770 |
Salary fund | - | 62,593 |
Church planting fund | 7,473 | 7,473 |
Church house fund | 40,813 | - |
195,836 |
TOTAL FUNDS | 342,323 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
Harvest Bible Chapel Glasgow (Registered number: SC363808) |
Balance Sheet - continued |
31 March 2024 |
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 |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
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. |
Presentation currency |
The financial statements are presented in pound sterling (£) which is the functional currency of the company. |
Going concern |
The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue, and the Trustees believe the going concern basis of accountancy appropriate in preparing the annual financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
The Trustees have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Trustees estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes. |
Income |
All income is recognised when the charity is entitled to the income, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income: |
Donations and legacies income is received by way of grants, donations, gifts and is included in full in the Statement of Financial Activities when the charity is entitled to the goods or services, receipt of the goods or services is probable and the value of the goods or services can be measured reliably. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant. |
Other trading activities include any fundraising events held to generate funds and the sale of merchandise. Income is included when receivable and can be measured with reasonable certainty. |
Investment income is included when receipt is probable and the amount can be measured reliably, and consists solely of bank interest. |
Volunteers |
In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements due to inaccurate measurement bases. |
Expenditure |
Expenditure has been classified under the headings that aggregate all costs 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 the resources. |
Expenditure is recognised on an accrual basis when a legal liability is incurred, payment of the liability is probable and the amount can be measured reliably. The amount includes any VAT which cannot be fully recovered. VAT is reported as part of the expenditure to which it relates. |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Expenditure |
Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct costs of charitable activities approved by the charity and all support costs relating to these activities. Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements. These costs are allocated entirely to charitable activities. |
Support costs |
Support costs are allocated wholly to charitable activities. Whilst the Trustees recognise that a small part of some items of expenditure included in support costs do relate to indirect governance costs, they are of the opinion that the time and costs involved in performing such an analysis outweigh the potential benefits arising from any such work. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write of the cost less estimated residual value of each asset over its estimated useful life. |
Freehold property - 2% on cost |
Plant and machinery - 25% on cost |
Fixtures and fittings - 25% on cost |
It is the policy of the charity not to consider items of expenditure less than £500 for capitalisation. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
The charity consists of one unrestricted general income fund which is available for the use at the discretion of the Trustees in furtherance of the general objectives of the charity and one restricted fund being the building fund which is to receive all income raised by the charity for the financing of a new church building. |
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. |
Employment Benefits |
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate. |
Financial instruments |
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors, and creditors. |
Cash and cash equivalents comprise cash at bank and on hand and bank overdrafts. A bank overdraft would be shown within current liabilities. |
Debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, other debtors are stated at cost less losses for bad debts. |
Creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, creditors are stated at cost. |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Financial instruments |
Provisions for liabilities |
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Donations | 176,830 | (9,112 | ) |
Gift aid | 24,581 | - |
201,411 | (9,112 | ) |
3. | INVESTMENT INCOME |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Deposit account interest | 2,188 | - |
4. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 5) | note 6) | Totals |
£ | £ | £ |
Main charitable activity | 195,313 | 1,933 | 197,246 |
5. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2024 | 2023 |
£ | £ |
Trustees' remuneration etc | 46,697 | 44,842 |
Staff costs | 53,530 | 61,033 |
Rates and water | 3,292 | 1,275 |
Insurance | 5,978 | 5,189 |
Light and heat | 8,333 | 15,648 |
IT & Telephone | 6,326 | 4,803 |
Print, postage and stationery | 194 | 241 |
Advertising | - | 1,487 |
Sundries | 6,111 | 4,798 |
Equipment | 8,307 | 15,468 |
Events and conferencing | 16,173 | 8,923 |
Religious expenses | 640 | 582 |
Staff training | 2,250 | 5,211 |
Travel | 6,353 | 6,561 |
Cleaning | - | 2,594 |
Carried forward | 164,184 | 178,655 |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | DIRECT COSTS OF CHARITABLE ACTIVITIES - continued |
2024 | 2023 |
£ | £ |
Brought forward | 164,184 | 178,655 |
Mission expenditure | 13,433 | - |
Bank charges | 165 | - |
Depreciation | 10,299 | 11,219 |
Interest payable and similar charges | 7,232 | 5,585 |
195,313 | 195,459 |
6. | SUPPORT COSTS |
Governance |
costs |
£ |
Main charitable activity | 1,933 |
Support costs, included in the above, are as follows: |
Governance costs |
2024 | 2023 |
Main |
charitable | Total |
activity | activities |
£ | £ |
Examination fee | 1,933 | 1,993 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
2024 | 2023 |
£ | £ |
Trustees' salaries |
Trustees' social security |
Trustees' pension contributions to money purchase schemes |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
100,227 | 105,875 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Senior Pastor | 1 | 1 |
Admin | 1 | 1 |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
Transfers between funds | (15,233 | ) | 15,233 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 143,915 | 121,622 |
TOTAL FUNDS CARRIED FORWARD | 146,487 | 195,836 | 342,323 |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
11. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | Plant and | and |
property | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
12. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Prepayments |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 16) |
Social security and other taxes |
Other creditors |
Accrued expenses |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 16) | 108,474 |
16. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 10,461 | 10,044 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans more 5yrs instal | 51,774 | 64,040 |
The above loan is repayable over 15 years at 7.5% interest per annum. |
17. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Stewardship Services (UKET) Limited holds a standard security, delivered on 6 February 2018, over the property at 167 Ashkirk Drive, Glasgow. |
18. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 146,487 | 33,705 | (19,228 | ) | 160,964 |
Restricted funds |
Building fund | 125,770 | (12,732 | ) | 17,276 | 130,314 |
Salary fund | 62,593 | (62,593 | ) | - | - |
Church planting fund | 7,473 | - | - | 7,473 |
Church house fund | - | 38,861 | 1,952 | 40,813 |
(36,464 | ) |
TOTAL FUNDS | (2,759 | ) | 339,564 |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
18. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 203,599 | (169,894 | ) | 33,705 |
Restricted funds |
Building fund | - | (12,732 | ) | (12,732 | ) |
Salary fund | (47,973 | ) | (14,620 | ) | (62,593 | ) |
Church house fund | 38,861 | - | 38,861 |
( |
) | ( |
) | (36,464 | ) |
TOTAL FUNDS | ( |
) | (2,759 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 143,915 | 17,805 | (15,233 | ) | 146,487 |
Restricted funds |
Building fund | 121,622 | (11,085 | ) | 15,233 | 125,770 |
Salary fund | - | 62,593 | - | 62,593 |
Church planting fund | - | 7,473 | - | 7,473 |
121,622 | 58,981 | 15,233 | 195,836 |
TOTAL FUNDS | 265,537 | 76,786 | - | 342,323 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 143,139 | (125,334 | ) | 17,805 |
Restricted funds |
Building fund | - | (11,085 | ) | (11,085 | ) |
Salary fund | 123,626 | (61,033 | ) | 62,593 |
Church planting fund | 7,473 | - | 7,473 |
131,099 | (72,118 | ) | 58,981 |
TOTAL FUNDS | 274,238 | (197,452 | ) | 76,786 |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
18. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 143,915 | 51,510 | (34,461 | ) | 160,964 |
Restricted funds |
Building fund | 121,622 | (23,817 | ) | 32,509 | 130,314 |
Church planting fund | - | 7,473 | - | 7,473 |
Church house fund | - | 38,861 | 1,952 | 40,813 |
121,622 | 22,517 | 34,461 | 178,600 |
TOTAL FUNDS | 265,537 | 74,027 | - | 339,564 |
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 | 346,738 | (295,228 | ) | 51,510 |
Restricted funds |
Building fund | - | (23,817 | ) | (23,817 | ) |
Salary fund | 75,653 | (75,653 | ) | - |
Church planting fund | 7,473 | - | 7,473 |
Church house fund | 38,861 | - | 38,861 |
121,987 | (99,470 | ) | 22,517 |
TOTAL FUNDS | 468,725 | (394,698 | ) | 74,027 |
Purposes of funds |
Unrestricted funds |
General fund - To receive the normal income and pay the normal running expenses of the charity. |
Restricted funds |
Building fund - To receive the income raised by the charity for the financing of a new church building. |
Salary fund - To receive the income raised by the charity for the financing of staff salary, NIC and pension expenditure. |
Church planting fund - To receive the income raised by the charity for the financing of future church planting. |
Church house fund - To receive income for purposes of restoring, refurbishing, or altering the church house. |
Harvest Bible Chapel Glasgow |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
18. | MOVEMENT IN FUNDS - continued |
Transfers between funds |
During the year to 31 March 2024, a sum of £17,276 was transferred from the unrestricted General Fund to the restricted Building Fund. A further £1,952 was transferred from the unrestricted general fund to the Church house fund. |
19. | RELATED PARTY DISCLOSURES |
During the period under review S G Hamilton, who is a Trustee, received remuneration of £42,016 (2023 - £38,346) and employer pension contributions of £2,495 (2023 - £2,247) for providing his services as Senior Pastor. |
Trustees' donations |
During the period, the aggregate amount of donations made by Trustees was £15,955 (2023 - £15,930). |