The Church Of Scotland. Partick Trinity Church Of Scotland

Transcription

1 The Church Of Scotland Partick Trinity Church Of Scotland ACCRUED (2015 SORP COMPLIANT) ACCOUNTS YEAR ENDED 31 DECEMBER 2015 Congregation No: Scottish Charity No: SC007632

2 Trustees Report Year ended 31 December 2015 The trustees present their annual report and financial statements of the charity for the year ended 31 December The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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 published on 16 July Objectives and Activities The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ s Kingdom throughout the world. As a national Church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial ministry. It co-operates with other Churches in various ecumenical bodies in Scotland and beyond. Partick Trinity holds regular services on Sunday morning at 11am, focusing on corporate worship and systematic expository Biblical preaching; and Reflect gatherings on Tuesday evenings, meeting in the church at 7.15pm on the first and third Tuesday of the month, and in groups in members homes on other Tuesdays, focussing on fellowship and practical Christian living. The Sacrament of the Lord s Supper is celebrated regularly, and the Sacrament of Baptism as required. There is a Youth Ministry incorporating the Sunday Club on Sunday mornings, Youth Fellowship on Sunday evenings, clubs meeting in the church building on Wednesday afternoons and Friday and Saturday evenings, and a variety of groups meeting in local schools. Many of these youth groups are run in partnership with the Wheel Trust. There is a weekly Running Club, Tuesday toddler group, a Wednesday coffee morning, Blythswood Support Group, Thursday Lunch Club (TLC), a fortnightly Community Choir, a monthly Tuesday lunch club and Saturday Messy Church gathering, and other occasional events and outings. The building also hosts weekly gatherings of Rainbows, Brownies, Guides and Rangers, and is partially let to the Steiner School Toddler Group on Friday morning, a Country Dance Club on Thursday evenings, the Mandarin congregation of the Glasgow Chinese Christian Church on Sunday afternoons and some Saturday afternoons, and to Headstart nursery during the day from Monday to Friday. Achievements and Performance During 2015 Partick Trinity responded to a recent Congregational Audit by creating four new Strategy Teams to replace previous sub-committees of the Kirk Session. These are responsible for Families, Youth, After Hours, and Day-time, with each Team seeking to develop Ministry, Maturity and Mission among those for whom it is responsible. In addition there is a Church Strategy Team supervising activities for the whole congregation, and co-ordinating the activities of the other Strategy Teams. In addition to these new subcommittees, the Kirk Session continues to delegate responsibility to a Pastoral Care Group and a World Mission Group; and the Congregational Board does the majority of its work through its Property and Finance Groups. Youth Work remained strong, both through the uniformed organisations meetings in the church, and the various church and school based activities engaged in. continues as our Youth and Children s Outreach Worker doing innovative and engaging ministry within the building, and in local schools. At the end of December 2015 completed her time as part-time Children and Families Development Worker, handing over responsibility for a number of new areas of ministry such as the X-Xlub, Reflect Too, Caring through Casseroles, and Peer Mentoring to others in the congregation under the supervision of the Families Ministry Strategy Team. In June 2015 our Minister completed his year as Moderator of Glasgow Presbytery, with continued support from running Reflect gatherings. Plans to launch a Fresh Expression of Church in the Byres Road area were approved by the Kirk Session in June 2015, but subsequently faltered as it became clear that a sufficient number of people to initiate the venture could not be recruited from within the congregation. In response the Kirk Session and others who might have been involved are engaged in an ongoing process of Discerning Direction in relation to outreach to the population of our Parish. At Presbytery level, the new West End Street Pastors were launched in February 2015 by the West End Parish Grouping and others, and have enjoyed an effective first year of ministry in the Byres Road and Dumbarton Road areas on Friday and Saturday evenings. 2

3 Trustees Report (cont) Year ended 31 December 2015 The congregation through its Reflect groups continues to support overseas mission work done by and in Uganda, and in Singapore, and in Oxford, and in Pakistan, and and in Mexico. A team from Partick Trinity led by ran the first annual Luwero Community Ministries Holiday Club in Uganda in partnership with the local church there, at the same time as our Minister was one of the guest speaker at the annual Pastors Conference there. There was preaching on Sunday mornings on the books of Matthew and Zechariah, and on the Parables and Ethical Questions; and in Reflect we looked at Freedom in Christ and Bible Reading. Financial Review The principal source of income is offerings, which totalled 80,482 in 2015, (up 10% on the previous year) with a further 20,259 recovered under the Gift Aid scheme. Investment income from reserve funds was 13,790 in 2015, a decrease of 5% on the previous year. Total incoming resources were 149,781 which was higher than previous year total of 141,216 mainly due to donations received towards cost of Mission Trip to Uganda. Total expenditure was 187,370 (up from 150,551 in 2014). This included 57,913 in payments to the central funds of the Church of Scotland; 39,756 in local salary costs for the full-time Youth Worker, parttime Children & Families Worker, Organist and Caretaker; and 58,429 for fabric repairs and maintenance on the church and manse, council tax, and on other building costs such as heating, lighting and insurance. Building costs included a 22,500 one off cost to replace church boilers. Despite there being an anticipated deficit, due to surplus in reserve funds, decisions were taken to finance several significant additional areas of ministry. A grant of 5,000 was made to the Wheel Trust, doing Christian work with teenagers in the West End of Glasgow. A grant of 1,200 was given to our mission partners the towards the costs of their mission work in Mexico. After financing these items, expenditure exceeded income by 37,588. This was slightly higher than anticipated against a budgeted deficit of 34,984. Risk Management Since the majority of the congregation s income is derived from voluntary donations by its members, the Trustees believe the main risk it could face would be of a reduction in the number of active members or in the commitment of those involved. They are reassured that at present there is no evidence for either of these outcomes materialising, but nevertheless remain committed to effective programmes of outreach and inclusion, and to the practice of promoting Christian stewardship as part of an ongoing programme of Bible teaching and Discipleship. A further risk is of the need to spend significant sums of money on maintaining buildings. However the Trustees believe that adequate Reserves are held to meet this need should it arise, and are committed in partnership with Glasgow Presbytery to effective programmes of buildings inspection and maintenance. 3

4 Trustees Report (cont) Year ended 31 December 2015 Reserves Policy 2015 saw a slight increase in value of existing investments held by the church in Stocks and Shares, and in the Church of Scotland Income and Growth Funds, which rose by 1,627 from 335,603 to 337,230. The congregation established a new reserve policy in 2008 and now holds a Reserve Fund for two purposes: General, with a target value of a between 6 and 9 months of ordinary expenditure from unrestricted funds ( 83,000 and 124,000 in 2014) to secure the smooth running of the congregation; and Buildings, with a target value of between 100,000 and 150,000 (to be increased annually in line with inflation), to underwrite future major building repairs. At the end of 2015 the value of the Reserve Fund was 199,045. In addition there is a designated Ministry Resource Fund which stands at 140,451. This money is available to spend on special projects in connection with the activities of the congregation. The congregation holds a Restricted Manse Fabric Fund with a deficit balance of 19,681. It is anticipated that this will be met from funds held in the Consolidated Fabric Fund by the General Trustees once the former retirement manse at Kensington Court has been sold. In the meantime the balance is covered by an Unrestricted Fund Designated for that purpose. The congregation holds other Restricted Funds with a total value of 49,288. The majority of this ( 45,208) is in the Kirk Session Capital Fund for the purpose of generating income for the Kirk Session Revenue Fund. Structure, Governance and Management The congregation is a registered charity, number SC and is administered in accordance with the terms of the Model Deed of Constitution (or Deed of Constitution (Unitary Form)) and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland. Members of the Kirk Session and the Congregational Board are the charity trustees. The Kirk Session members are the elders of the church and are chosen from those members of the church who are considered to have the appropriate gifts and skills. The minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. The Congregational Board is appointed from within the congregation and members of the congregation are invited to nominate individuals who are believed to have the skills and commitment to contribute to the management affairs of the Church, to become members of the Board. Board Members are then appointed at the Stated Annual Meeting and serve for a period of three years after which they must seek re-election at the next Stated Annual Meeting. The Congregational Board is chaired by the minister and meets three times in a year. Certain responsibilities are delegated to the Finance Committee and the Property Committee as appropriate. The Kirk Session is responsible for spiritual affairs within the church, and meets three times per year. Certain responsibilities are delegated to various Strategy Teams (Church, Families, Youth, After Hours and Daytime) and to the Pastoral Care and World Mission Groups, including some elders and others appointed by the Kirk Session, and meeting three times per year. 4

5 Trustees Report (cont) Year ended 31 December 2015 Reference and Administrative Information Charity Name: Partick Trinity Church Of Scotland, Glasgow Charity Registration Number: SC Congregation Reference No: Charity Address: 20 Lawrence Street, Glasgow G11 5HG Trustees Kirk Session Members (* also appointed as members of the Congregational Board) Elected Members of the Congregational Board Due to Retire March Due to Retire March Due to Retire March Principal Office-bearers Minister: Session Clerk: Clerk to the Board: Church Treasurer: Families Strategy Team: Youth Strategy Team: After Hours Strategy Team: Daytime Strategy Team: Pastoral Care Group: World Mission Group: Finance Group: Property Group: World Mission Group Independent Examiner Bankers Clydesdale Bank 326 Byres Road Glasgow G12 8AN 5

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8 Statement Of Financial Activities Year Ended 31st December 2015 Unrestricted Restricted Funds Funds Total Total Note Income and endowments from: Offerings 1 72,003 28, ,741 89,589 Other Ordinary General Income 2 14,638 1,627 16,265 18,336 Extraordinary General Income Reimbursments From General Trustees 4 2, ,390 0 Rent & Utility Contributions, for Church & Halls 5 30, ,186 33,291 Total Income and endowments from: 119,416 30, , ,216 Expenditure on: 6 Raising Funds Charitable Activities 165,573 21, , ,551 Other Total expenditure on: 165,573 21, , ,551 Net Incoming / Outgoing Resources Before Transfers (46,157) 8,568 (37,588) (9,335) Transfers Between Funds 8,321 (8,321) 0 0 Gain/Loss On Revaluation Of Investments 1, ,627 18,278 Net Movement In Funds (36,654) 692 (35,962) 8,943 Total Funds Brought Forward 395,830 28, , ,803 Total Funds Carried Forward 359,177 29, , ,746 8

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10 Year ended 31 December 2015 The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities accounts (Scotland) Regulations 2006 (as amended) Fund accounting Funds are classified as either restricted funds or unrestricted funds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the charity. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees discretion to apply the fund. Incoming resources 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. Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102) the general volunteer time of congregation members is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt. Interest 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. 10

11 Year ended 31 December 2015 Fixed Assets The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church, halls and manse, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the Statement of Financial Activities in the period in which the liability arises. All tangible fixed assets costing in excess of 1,500 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives: Fixtures, fittings and office equipment 4 years Motor vehicles 4 years Investments Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year. Taxation Partick Trinity Parish Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT. 11

12 Statement Of Financial Activities Year Ended 31st December 2015 Unrestricted Restricted Funds Funds Total Total Offerings Standing Order Donations 47,460 9,270 56,730 56,615 WFO Envelope Donations 6,019 6,019 7,300 One Off Envelope Donations 1,845 12,249 14,094 3,622 Tax Recovered By Gift Aid 14,352 5,906 20,259 16,720 Anonymous Donor Donations 2,326 1,313 3,639 5,332 72,003 28, ,741 89, ,500 16,089 89,589 2 Other Ordinary General Income Endowment Stipend Income 1,354 1,354 1,315 Bank & Deposit Interest Investment Income 12,300 1,491 13,791 14,457 Weddings & Funerals ,080 Miscellaneous Income ,141 14,638 1,627 16,265 18, ,688 2,648 18,336 3 Extraordinary General Income Legacies Received Reimbursments From General Trustees Revenue Account Reimbursement 2,390 2,390 2, , Rent & Utility Contributions, for Church & Halls Rent, Nursery 25,200 25,200 24,850 Rent, Others 1,170 1,170 3,783 Utility Payment, Nursery 3,816 3,816 4,548 Utility Payment, Others , ,186 33, , ,291 6 Expenditure on: National Ministry and Mission & Wider Work 57,913 57,913 54,038 Local Ministry Costs 5,925 5,925 5,401 Local Ministry Costs (Extra To Restricted Funds) 33,202 33,202 32,077 Music Staffing Costs 3,363 3,363 3,022 Building & Related Costs 55,761 1,663 57,424 34,730 Grants made to others 7, ,415 8,252 Other Local Costs 2,008 20,120 22,127 13, ,573 21, , , ,201 11, ,551 12

13 Staff Costs & Numbers Salaries & Wages 37,418 36,124 Social Security Costs 2,338 2,019 39,756 38,142 The average number of employees during the year was as follows : Number Number Ministerial Support 2 2 Music Staff 1 1 Premises Maintenance All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipends and employer's contributions for national insurance, pension and housing and loan fund. Ministers' stipends are paid in accordance with the national stipend scale, which is related to years of service (In 2014 Min - 25,607, Max - 31,469). 8 Trustee Remuneration And Related Party Transactions, who as the minister is one of the trustees of the congregation, is reimbursed for travel & telephone expenses (2015-2,060) and council tax (2015-2,716) and other building expenses for manse are paid by church., who as an elder and session clerk is one of the trustees of the congregation, is also employed as a Caretaker (2015 Wages - 3,644). No other trustee received any remuneration or reimbursement for expenses during the year., who is the daughter of who is an elder and one of the trustees of the congregation, is employed as a Children & Families Worker (2015 Wages - 6,254). No other trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year. 10 Investments Market Value At 1 st January 335, ,325 New Investments During Year 0 0 Unrealised Gain / (Loss) On Investments 1,627 18,278 Market Value At 31 st December 337, ,603 Investments At Cost 237, ,450 The following investments are held : Church of Scotland Growth Fund (Unit Price 4.34) General Purposes 11,780 Units Kirk Session 5,340 Units Publicity & Mission 3,560 Units Ministry Resource 12,722 Units Church of Scotland Income Fund (Unit Price 11.40) General Purposes 4,481 Units Legacies 2,303 Units Ministry Resource 4,549 Units Equities Portfolio (Invested with Speirs & Jeffrey) Market value at 31 st December 63, Debtors Gift Aid Tax Refund Due 4,052 Nursery Share Of Accrued Utility Costs 1,181 1,229 Outstanding Rent For December 300 1,481 5,281 13

14 12 Creditors Utility Costs Oct - Dec (4,874) (3,741) (4,874) (3,741) 13 Analysis Of Net Assets Between Funds General Designated Restricted Total Fixed Assets 0 Investments 298,604 38, ,230 Current Assets 45,767 19,681 (9,019) 56,428 Current Liabilities (4,874) (4,874) Net Assets At 31 Dec ,496 19,681 29, , Volunteers In common with all congregations of the Church of Scotland the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown. 15 Movements In Funds At 1 Jan Incoming Outgoing Unrealised At 31 Dec 2015 Resources Resources Transfers Gain /Loss 2015 Restricted Funds Kirk Session P&M Capital Account 44, ,208 Fabric Manse (18,028) (1,653) (19,681) Fabric Sanctuary Windows Kirk Session P&M Revenue Account 1,585 1,491 (382) 2,693 Church Conference Account (971) 1,699 (2,201) (1,473) Kirk Session Youth Project Account 0 11,869 (3,547) (8,321) 0 Fish 3 Social Account 350 1,716 (1,718) 349 Life & Work Trading Account One O'Clock Club 150 (50) 100 Blythswood Support Group Luwero Mission Fund 0 13,408 (12,246) 1,162 28,915 30,366 (21,797) (8,321) ,607 Unrestricted Funds General Funds GP Reserve Capital Account 237,269 (20,000) 2, ,270 Ministry Resource Capital 107,892 (820) 107,072 General Fund (3,045) 114,810 (158,659) 46,894 0 GP Reserve Revenue Account 0 (20,225) (20,225) Ministry Resource Fund 35,687 4,605 (6,913) 33, , ,416 (165,573) 6,669 1, ,496 Designated Funds GP Reserve Noted To Manse 18,028 1,653 19,681 18, , ,681 Total Funds 424, ,781 (187,370) 0 1, ,784 14

15 Purposes of Restricted Funds Fabric Manse maintenance of the manse in Balshagray Avenue and retirement manse in Kensington Court Fabric Sanctuary Windows repair of the leaded glass windows in the Sanctuary Kirk Session Capital Account reserve fund generating income for the Kirk Session Revenue Account Kirk Session Revenue Account mission and discipleship purposes at the discretion of the Kirk Session, and benevolent purposes at the discretion of the Minister and Session Clerk Church Conference Account receive contributions and fund expenditure on the church weekend away Youth Project Account resources for Youth Work and salary costs for the Youth Worker Flowers Capital Account reserve fund generating income for the Flowers Revenue Account Flowers Revenue Account receive contributions and fund expenditure on flowers used to decorate the church and subsequently distributed for benevolent purposes Fish3 Social Account donations, income and expenditure on catering and other social activities Tearcraft Trading Account buying of gifts and cards from Tearcraft for sale to the congregation Life & Work Trading Account buying of the Life & Work magazine for sale to the congregation Blythswood Support Account funding the activities of the Blythswood Support Group Purposes of Designated Funds General Fund general expenditure on charitable purposes Reserve Fund to secure the smooth running of the congregation and underwrite future major expenditure on the buildings Ministry Resource Fund available for special projects and initiatives (The Reserve Fund and Ministry Resource Fund were created by transferring the balances from the GP Reserve Capital, Legacy Capital, GP Reserve Revenue and Legacy Revenue Funds in accordance with the new Reserve Policy established by the trustees in 2008) Reserve Noted to Manse funds designated to cover the deficit in the Fabric Manse Fund until it is are recovered from funds held in the Consolidated Fabric Fund by the General Trustees Special Collections In addition to the General Fund income the following income from special collections and fund raising events for special purposes was disbursed during the year: Blythswood Care 378 Borderline 35 Christian Aid 1,335 Glasgow City Mission 20 Latin Link 50 Lodging House Mission 769 Tearfund 1,122 The Well 151 Total 3,859 Where the donor has completed a Gift Aid Declaration in favour of the charity name, registered charities above will be able to make a claim for Gift Aid tax rebates and receive an extra 25p for every 1 donated. 15

16 APPENDIX FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES CAPITAL ACCOUNT Credit Balances Held At 31 Dec At Cost 38,746 38,746 Market Value Of Balances At 31 Dec 73,415 72,594 REVENUE ACCOUNT Credit Balance At 31 Dec 6,753 6,412 TEMPORARY ACCOUNT Credit Balance At 31 Dec