Grace Church Falkirk - Charities report

REGISTERED COMPANY NUMBER: SC551313 (Scotland)

REGISTERED CHARITY NUMBER: SC047046

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Grace Church Falkirk

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

13

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 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 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, Overseas Missionary Fellowship (OMF),Tearfund UK, Street Pastors (Stirling) and the International Presbyterian Church.

ACHIEVEMENTS 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.

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 eight 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: Ian Fannon

The Charity employs Andrew Randall as Minister and employed Thomas Andrew Ritson as Assistant Minister.

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 2023 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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC551313 (Scotland)

Registered Charity number

SC047046

Registered office

3 Woodside Grove

Larbert

FK5 3HG

Trustees

I T Fannon (Retired from employment)

R J Mcdougall (Health & Saftey Professional)

R S Orr (Civil Servant (Public Relations))

Rev. A M Randall (Minister Of Religion)

R W Russell (Retired from employment)

S Shields (Retired from employment)

M L Wheeler (Retired from employment)

Rev T A Ritson (Minister Of Religion)

Independent Examiner

Graeme Deans

Drummond Laurie CA

Unit 5

Gateway Business Park

Beancross Road

Grangemouth

FK3 8WX

Solicitors

Lindsays

Caledonian Exchange

19a Canning Street

Edinburgh

EH3 8HE

Approved by order of the board of trustees on 7 May 2025 and signed on its behalf by:

I T Fannon - Trustee

I report on the accounts for the year ended 31 December 2024 set out on pages five to thirteen.

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

FK3 8WX

9 May 2025

31.12.24

31.12.23

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

137,640

96,420

234,060

158,267

Investment income

2

645

23,771

24,416

4,616

Total

138,285

120,191

258,476

162,883

EXPENDITURE ON

Charitable activities

Charitable Activities

148,742

6,439

155,181

131,619

NET INCOME/(EXPENDITURE)

(10,457

)

113,752

103,295

31,264

RECONCILIATION OF FUNDS

Total funds brought forward

197,601

1,052,260

1,249,861

1,218,597

TOTAL FUNDS CARRIED FORWARD

187,144

1,166,012

1,353,156

1,249,861

31.12.24

31.12.23

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

8

82,408

237,115

319,523

84,521

CURRENT ASSETS

Debtors

9

13,425

-

13,425

-

Cash at bank

95,935

928,896

1,024,831

1,170,032

109,360

928,896

1,038,256

1,170,032

CREDITORS

Amounts falling due within one year

10

(4,624

)

1

(4,623

)

(4,692

)

NET CURRENT ASSETS

104,736

928,897

1,033,633

1,165,340

TOTAL ASSETS LESS CURRENT
LIABILITIES

187,144

1,166,012

1,353,156

1,249,861

NET ASSETS

187,144

1,166,012

1,353,156

1,249,861

FUNDS

11

Unrestricted funds

187,144

197,601

Restricted funds

1,166,012

1,052,260

TOTAL FUNDS

1,353,156

1,249,861

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 7 May 2025 and were signed on its behalf by:

I T Fannon - Trustee

M L Wheeler - Trustee

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

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

2.	INVESTMENT INCOME

31.12.24

31.12.23

£

Deposit account interest

24,416

4,616

3.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

Charitable Activities

80

1,988

2,068

Support costs, included in the above, are as follows:

31.12.24

31.12.23

Charitable

Total

Activities

activities

£

Bank charges

80

66

Accountancy and legal fees

1,988

7,198

2,068

7,264

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.24

31.12.23

£

Depreciation - owned assets

4,685

2,104

5.	TRUSTEES' REMUNERATION AND BENEFITS

The trustees' were paid total remuneration of £72,388 for the year ended 31 December 2024 (2023: £67,065).

Trustees' expenses

During the year the following trustees received reimbursement of expenses totalling £6409 (2022:- £4,885):-

Rev. A M Randall £3817 (2023:- £3,817)

Rev A Ritson £2,557 (2023:- £978)

I Fannon £35 (2003:- £90)

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:

31.12.24

31.12.23

Minister

1

Ministerial support

1

2

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

141,056

17,211

158,267

Investment income

-

4,616

Total

141,056

21,827

162,883

EXPENDITURE ON

Charitable activities

Charitable Activities

126,114

5,505

131,619

NET INCOME

14,942

16,322

31,264

RECONCILIATION OF FUNDS

Total funds brought forward

182,659

1,035,938

1,218,597

TOTAL FUNDS CARRIED FORWARD

197,601

1,052,260

1,249,861

8.	TANGIBLE FIXED ASSETS

Fixtures

Church

and

Computer

Property

fittings

equipment

Totals

£

COST

At 1 January 2024

96,960

1,604

500

99,064

Additions

239,687

-

239,687

At 31 December 2024

336,647

1,604

500

338,751

DEPRECIATION

At 1 January 2024

12,613

1,604

326

14,543

Charge for year

4,511

-

174

4,685

At 31 December 2024

17,124

1,604

500

19,228

NET BOOK VALUE

At 31 December 2024

319,523

-

319,523

At 31 December 2023

84,347

-

174

84,521

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Prepayments and accrued income

13,425

-

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Social security and other taxes

2,725

2,878

Other creditors

152

Accrued expenses

1,746

1,662

4,623

4,692

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

197,601

(10,457

)

187,144

Restricted funds

Premises Fund

1,052,260

113,752

1,166,012

TOTAL FUNDS

1,249,861

103,295

1,353,156

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

138,285

(148,742

)

(10,457

)

Restricted funds

Premises Fund

120,191

(6,439

)

113,752

TOTAL FUNDS

258,476

(155,181

)

103,295

Comparatives for 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

1,218,597

31,264

1,249,861

Comparative 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

162,883

(131,619

)

31,264

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.23

in funds

31.12.24

£

Unrestricted funds

General fund

182,659

4,485

187,144

Restricted funds

Premises Fund

1,035,938

130,074

1,166,012

TOTAL FUNDS

1,218,597

134,559

1,353,156

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

279,341

(274,856

)

4,485

Restricted funds

Premises Fund

142,018

(11,944

)

130,074

TOTAL FUNDS

421,359

(286,800

)

134,559

12.	RELATED PARTY DISCLOSURES

During the year, the charity engaged Project Health and Safety Services Ltd to provide project management services at a total cost of £924 in the period. One of the charity's trustees, Robert McDougall, is employed by the company as Operations Manager.

The trustee was involved in the procurement process. The services were obtained on normal commercial terms, and the trustee received no personal benefit from the arrangement

13.	RESTRICTED RESERVES

Premises Fund :- Used for the purchase and providing of premises