ST COLUMBA'S CHURCH OF SCOTLAND Pont Street, London, SWIX OBD ANNUAL REPORT 2024 .¥t,Coluiiibas LOND()NI Registered Charity Number 236173 Congregation number 472427 ST COLUMBA'S CHURCH OF SCOTLAND REPORT OF THE TRUSTEES for the year to 31 December 2024 THE CHARITY The name of the charity is Trust Property and Funds held in connection with St Columba's Church and Congregation and its address is Pont Street, London, SW1X OBD. The number of the charity is 236173. The charity is Commonly known as St Columba's Church of S¢otland. TRUSTEES AND THEIR RESPONSIBILITIES The charity trustees are the Kirk Session of St Columba's (the Elders). The cuslodian trustee is a body incorporated on 5 December 1995 called The Trustees of St Columba's Church of Scotland. London (Ref. CD {Ldnl 236173120646>. In all its responsibilities it acts with the ¢onsent of the Kirk Session. In addition lo holding the Church building and its halls, rooms and offi￿S, the custodian trustee holds other properties lat 31 December 2024 two manses and a tennis ground). Details of these assets are shown on the Balance Sheet and note 6 of the Accounts. The Rev C Angus MacLeod MA BD was Minister throughout the year. The Rev William McLaren MA BD was Associate Minisler throughout Ihe year.. A list of the names of the Minister and the Elders who constituted the Kirk Session at any time in the year ended 31 December 2024 and at the date of this report is appended. The names of those acting as members of the incorporated body are marked thereon with an asterisk. The Session Clerk is Mrs Charlotte Bradford to whom day to day management of the charity is delegated lin consultation with the Finance Convener and others as appropriate). The Kirk Session is responsible for preparing the Report of the Tnjslees and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢e). The law applicable to charities in England and Wales requires the Kirk Session to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial slatements the Kirk Session is required to.. Select suitable accounting policies and then apply thern consistently. Observe the methods and principles in the Charilies SORP. Make judgements and estimates that are reasonable and prudent. stste whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepare the financial statements on the going cOn￿M basis unless it is inappropriate to presume that the chariiy will continue in operation. The Kirk Session is responsible for keeping proper accounting records Ihat disclose with reasonable a¢Guracy at any time the financial position of the charity and enable it to ensure that the financial ststements comply with the Charities Act 2011, the Regulations for Congregational Finance of the General Assembly of the Church of Scotland and the provisions of the Trust Deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. The Kirk Session is responsible for the maintenance and integrity of the charity and financial infomiation included on the charity's website. Legislation in the United Kingdom governing the preparat￿on and dissemination of financial slatements may differ from legislation in other jurisdictions. OTHER RELEVANT ORGANISATIONS Banker - The Royal Bank of Scotland, 36 St Andrew Square, Edinburgh, EH22YB Solicltor - Withers LLP, 20 Okl Bailey, London, EC4M 7AN Auditor - Sayer Vincent LLP. 110 Golden Lane, London, EC1Y OTG STRUCTURE, GOVERNANCE and MANAGEMENT The charity is constituted as a Trust. The document governing the charily 15 a Trust Deed dated 20 July 1910. New trustees, chosen from the congregation. are appointed from time to time to fill vacanci8s, by invitalion from the Kirk Session. No individual or other body has power to appoint new trustees. New trustees attend induction s8minars and work closely with existing trustees. TNstees are given literature issued by the Charity Commission setting out their responsibilities. Conferences for trustees are held periodicalty. An Away Day is held periodically for all trustees. The general management and administration of the charity are vested in the Kirk Session. Much day-to4ay work of the Kirk Session is carried out by Committees (whose members are appointed by ihe Kirk Session) as follows. the Finance Committee. the Fabric Committee, the Benevolence Committee, the Hospitality Committee, the Assembly and Presbytery Committee, the Fellowship Committee. the Mission Committee, the Nurture Committee, the Worship and Communication Committee, the Youth Committee, the Napier Committee and the Staff Committee. These Committees report regularly to the Kirk Session. While minor operational decisions may be taken at a committee level, any significant decisions are referred to the Kirk Session, in accordance with the responsibilities of the trustees. The Kirk Session meets six times a year and at such other times as it may determine. All key management personnel are volunleertrustees, so no remuneration or benefits were provided to them in relation to their role as trustees. RISK ASSESSMENT The charity Irustees - the Kirk Session - consider that the Church buildings are adequately insured against structural damag8. The income of the Church arises from the range of sources mentioned below. The Kirk Session encourages members of the congregation regularly to review the level of their giving. The Kirk Session has appropriate arrangements in Pla￿ for the preparation of financial statemenls, the keeping of proper account5 and records, the safeguarding of assets and the dete￿lon of fraud. The Kirk Session recognises its responsibilities to both Church members and visitors in matters of health, safety and security and so regularly reviews its procedures and takes professional advice where required. RELATED PARTY TRANSACTIONS (See Note 15 to the Financlal Statements) The charity trustees- the Kirk Session - confimi that lo the best of their knowledge and beliefthere We￿ no financial transactions undertaken by the Church in the year ended 31 De￿mber 2024 in which the charity trustees or any personlcompany connected with them had. directly or indirectly, a material interest apart from the following.. Ms F Gardner (a trustee) was in receipt of £2,92012023: £4,783) and Mr G Wallis was in receipt of £900 {2023: £721 as relief administrators. PW Bradford Ison of a trustee} was in receipt of £nil (2023: £99) as a relief caretaker. RESTRICTIONS IMPOSED BY THE TRUST DEED The trustees hold the Church building for the purpose of public worship according to the doctrine, worship, discipline and govemment of the Church of Scotland. The trustees can only dispose of it on condition that the proceeds are used for the acquisition or erection of a new church. KEY OBJECTIVES OF THE CHARITY St Columba's is part of the Church of Scotland, the National Church in Scotland, recognised by the State but independent in spiritual matters. The Church of Scotland is Trinitsrian in doctrine, Reformed in tradition and Presbyterian in polily. It exists to glorify God, to work for the advancement of Christ's Kingdom throughout the world and to provide the ordinances of religion to the people of Scotland through parish ministry. By extension, it does Ihe same for Scots and any of other nalionalities who are attracted to a Presbyterian style and form of worship in England, Europe and further afield. St Columba's is bound by the objectives of the Church of Scotland and governed by its laws. It is subject to the jurisdiction of the Presbytery of England and the Channel Islands and to the supreme court of the Church, the General Assembly. Subject to that, the Kirk Session is responsible for all matters relating to St Columba's, both spiritual and temporal. All matters of substance are reported to the congregation, which is required to receive its Annual Accounts. The key objectives of Sl Columba's can best be summarised by quoting in full its Mission Statement. MISSION STATEMENT In the name of Jesus Chrlst, we, as a congregatlon of the Church of Scotland, aim to Witness to the power of God the Father, of Jesus Christ His Son and of the Holy Spirit in our lives; Maintain strong public worship in the Presbyterian style., Leam more of God and grow in faith and love: Serve God and His Church, each other and those in need both near and far., Provide a friendly and hospilable welcorne to all: Offer Christian fell¢)wship both at St Columba's and by going out as a community of caring people. We Invite you to Joln us In thls mlsslon. DELIVERY OF PUBLIC BENEFIT The Kirk Session confirms that it has referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and when planning future activities. Th8 Kirk Session believes that the Chrislian valu8s upon which it bases its work are of significant benefit to the whole of society. While some of the activities which it carries out specifically benefit St Columba's Congregation. Sl Columba's Church is an outward-looking organisation, concemed with seeking to Iransfomi society for the better. So the Kirk Session works hard to ensure that the benefits which it aims to provid8 are not exclusive to Christians or to St Columba's congregation. ACHIEVEMENT OF KEY OBJECTIVES In order to achieve its key objectives, St Columba's holds Se￿iceS every Sunday, special seNices at Christmas and at Easter, weekly Holy Communion and monthly baptisms. All Sunday 11am services as well as most seNices on other significant Holy days, and some funerals and memorial services. continue to be offered online and as dial-in as well as in person. There are meetings, talks and discussions on aspects of the faith and matters affecting the daily lives of Christians as well as social events including weekly Scottish country dancing and a monthly Scottish country dancing class for Sunday School members and other children, a monthly musical recital and tennis. Much pastoral care is provided by the Ministerial team and Elders, with contact maintained through correspondence and telephone calls with more isolated members. This is coordinated by an Elder in conjunction with the Minister and the Office Manag8r. The Congregation receives the audited accounts together with an update on significant issues for the church and on the care of our buildings each year at the Annual Slated Meeting. Following consultation with the Kirk Session and congregation in autumn 2023, groups were set up to consider the output. In pursuance of the aim of engaging more closely wilh all those who enter the building, initiatives have included the installation of an informationldisplay screen in the entrance vestibule and plans for the engagement of a paid part-time social medialcommunications specialist to advise on a communications strategy and enhanced social media presence. St Columba's has a dose connection with several charity partners.. Scotscare. which provides emotional. financial and practical support to S¢ots and their families in Greater London with a wide range of services from financial support. advocacy, counselling, to sheltered housing, training and job coaching, support for homeless Scots in London and more; RESTART, a small, London-based charity whose objective is to help homeless men and women to break the cycle of homelessness, move from the streets, confront the issues obstructing their futures and return to independent living; and GlassDoor, which partners with churches and community Centres to give shelter and support to homeless people in London St Columba's is a founder member of Scots in London, a not-for-profrt group of Scots organisations based in London which has the aim of bringing people together by running events and co-ordinating and publicising the activities of Ihe members and other Scottish Groups. In November 2024 the inaugural St Andrew's Book Festival was held at St Columba's and other venues, showcasing well-known Scottish writers, poets and debut authors, bringing in audiences from all ovèr London and including three Family Events and four packed Schools Events. Apart from the Ministerial team and our staff la full-time administrator and a full- time caretaker, supported by three relief caretakers, plus a Director of Music, assistant organist and accountant) all of the work of St Columba's is Carried oul by Elders and members of the congregatlon on an unpaid basis. Pay levels of stsff are reviewed annually and compared with the market. The number on the roll on 31 De￿mber 2024 was 697 (2023.. 708). St Colurnba's administers several charitable funds, many of which are the result of gifts by members. Some of these are separately registered charities. They are concerned with helping needy persons and supporting olher charities doing similar work. Contribution is also made from the income of the Church to the ministry and social work of the Church of Scotland in Scotland and abroad. Special co118Ctions were taken during the year for Scotscare, the Poppy Appeal and Firefly International, a Scottish charity set up to help children and young people affected by war, the 2024 Lenten appeal). St Columba's is part of Glass Door's Kensington and Chelsea night shelter circuit for the homeless and offered ovemight accommodation and meals on our premises every Sunday night during the 2023-2024 and 2024-2025 winter seasons. The Friday night drop-in offering meals and support run by a local charity, RESTART. continued throughout the year. Facilities are provided on a regular basis for meelings of addiction support groups and other charitie5, as well as other community groups. The Napier Fund continues to make grants in accordanc8 Wth the terms of the scheme approved by the Charity Commission in 1980. The income of the Napier Fund may b8 applied for th8 following purposes in the following order of priority: in furthering the religious and other charilable work of St Columba's., in furthering the religious and other charitable work of the Church of Scotland in Scotland and elsewhere. and for such other charitable purposes connected with the Church of Scotland or consistent with the principles thereof as the Administrative Trustees shall decide. FINANCIAL STATEMENTS The financial statements of the charity comply with statutory requirements and the requirements of the charrty's goveming instrument and include any additional information required by law. At the year-end there were no commitments regarding on-going expenditure, incomplete projects or obligations not met which wer8 not provided for in the accounts. FINANCIAL REVIEW The Kirk S85sion's plans for Ihe future including the aims and key objectives are set out in the section headed "Mission Stalement" above. The sources of income are contributions from members of the congregation {open plate collections, regular payments under Gift Aid or otherwise by bankers, standing order, online donations Lrsing JustGiving and gifts via Gift Aid and Give-as-you-earn), contributions from congregational organisations and other users of the premises, fees for Church Services and distributions and interest from investments. Total income in 2024 amounted to £1,099,087 (2023.. £902.820). Totsl expenditure in 2024 amounted to £781,259 {2023: £675,864) giving a surplus of £317,828 (2023.. £226,956) before inveslment gains. Net assets of all funds at 31 December 2024 totalled £9,516,388- an increase of £638,883 from the balance at 31 December 2023. The Church's investments are invested in the Church of Scotland Investors Trusl. All investments acquired have been acquired in a¢¢ordance with the powers available to the trustees. The investment portfolio is designed to produ￿ a satisfactory yield and the prospect of growth in value over the medium-term and long-term period. In 2005 the trustees decided to set up a 50th Annrver5ary Appeal Fund for exceptional maintenance expenditure on the church building in future years. The Fund amounted to £37,191 at 31 December 2024. The Congregational Funds (excluding tangible fixed assets) amounted lo £3,018,040 at 31 December 2024. Funds held as reserves are required to meet any unforeseen reductions in income or unplanned expenditure. The Trustees consider that reserves of at least twice annual expenditure are sufficient to cover an unforeseen reduction in income or unplanned expenéiture. The Kirk Session considers that there are no material Un￿rtaIntieS about the charity's ability to continue as a going concem. Each year a budget is prepared and presented to the Kirk Session for their review, discussion and approval. The value of the Church building shown on the Balance Sheet is its cost in 1955. It is insured for £ 36,518,892 (including the organs) on the basis of a total loss. FUNDRAISING We do not use a third paty for fundraising; nor do we work with professional fundraisers or commercial participators. We request a weekly offering, announced during the service, on our website and in our weekly newsletter, but participation is voluntary and can be anonymous if the donor wishes. All these donations go towards the work of St Columba's except on the occasions that the congregation has been told that the collection is for a specific charity, for example Christian Aid, in which case the whole sum collected on the day is passed to that charity. We run main appeal in Lent each year for a charity proposed by a member of the congregation and approved by the Kirk Session- the whole sum collected is passed to the chosen charity. The sums collected are intimaled to the congregation in each case and in the case of donations for Ihe work of St Columba's are reported in our annual accounts. We act reasonably and carefully in all matters relating to fundraising and follow general regulations including complying with the Data Protection Act, keeping donations safe etc. We do not participate in a fundraising code and so are not aware of any non-compliance. We have received no complaints relating to fundraising. To protect vulnerable people while fundraising, no pressure is brought to bear at any time and all are very welcome to participate in the full life of the church whether or not they contribute financially. If someone facing difficult circumstances is unable to support the church as hitherto, this is treated confidentially. and they continue to be welcome as before. Where appropriate, the Church will seek lo give support lo individuals using one of our funds set aside for the purpose of helping Scots and others. During general activities in the church, we protect vulnerable people by having volunteers and staff DBS checked- all Trustees also undertake safeguarding training to protect vulnerable adults. FACILITIES The facilities of the Church building, its halls and offices, as well as its manses. are, in the opinion ofthe Trustees, adequate for the purpose of its worf( in the foreseeable future. By order of the Trustees Charlotte E Bradford A Trustee & n Clerk Date.. 27 2025 ST COLUMBA'S CHURCH OF SCOTLAND KIRK SESSION The Minister: The Rev C Angus MacLeod MA BD The Associate Minister The Rev William mcLa￿n MA BD Elders in 2024.. Mg Wendy Betts Prof Rona Mackie Black Mrs Charlotte Bradford (Session Clerk Mr Roderick Buchanan Mr Gordon Cameron Mr Roderick Cameron Mrs Isobel Carter Mrs Patricia Clarke Mr Graham Cumming (to 26 April 2024 Ms Karen Cunnin Ms Nadia Dallsin Miss Naomi Donaldson Mrs Heather Farwell Mrs Hazel Forbes Miss Elizabeth Fox Mr Martin Funnell Ms Fiona Gardner Mrs Lilias Gillies Mr William Glasson Mr Benjamin Gouda Mr Donald Johnston Dr Ruth Kattumuri Dr David Kerr Mrs Fiona Lang Dr Neil MacDonald Mr Colin Mackinnon Mrs Catherine Macnish Mrs Elizabeth Maliphant Mrs Catherine McDonald Miss Helen Miller Dr Peter Mills Mr Robert Mills Dr Sarah Mills Mrs Daphne Moore (to 26 April 2024) Lady Nalzler Ms Sheila Nicoll Mr David Nicolson Mrs Katherine Pa ne Mr Hugh Pym ham Mrs Susan Pym Mrs Catharine Robertson Mr John Russell Mr Andrew Smith Dr Gillian Smith Mrs Rosa Somervllle Mrs Jill Steele Mr Stuart steele Mrs Jean Stevenson Mr Michael Stevenson Dr Judith Ta lor Mr Alan Thackre Mrs Pamela Thackrey MrGa Wallis Dr Joanne Wallis Miss Betsy Wilkie Mrs Anne Wilson Members of the incorporated body of Custodian Trustees 10 KIRK SESSION COMMirrEE CONVENERS 2023 Finance Committee- Roderick Buchanan Fabric Cornmittee - Elizabeth Fox J. Mu￿aY Napier Committee - Michael St8V8nson Benevolence Committee- Betsy Wilkie Hospitality Management Committee- Ben Gourlay Fellowship Committee- Rosa Somerville Assembly and Presbytery Committee - Gillian Smith Nurture Committee - Role vacant: acting convener Michael Stevenson Worship and Communication Committee- Hugh Pym Mission Committee - Naomi Donaldson Youth Committee- Gary Walli5 Staff Committee - Charlotte Bradford KIRK SESSION APPOINTMENTS Sunday School Superintendent- Fiona Gardner Crèche Supervisor-Role currently vacant Safeguarding Co-ordinator- Sheena Clark (Presbytery Safeguarding Co- Ordinator) to 26 April 2024.. Pam Thackrey thereafter Data Protection Co-ordinator- Susan Pym Tea Together - Chairman.. Hazel Forbes Secretary.. Role vacant Christian Aid- Naomi Donaldson Presbytery of England and the Channel Islands- Presbytery Elder.. Charlotte Bradford Others (appointed by Presbytery).. Elizabeth Fox, Peter Mi115, David Nicolson, Susan Pym, Michael Stevenson, Rona Black Independent auditor’s report To the trustees of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation ## Opinion We have audited the financial statements of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - Give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended - Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice - Have been prepared in accordance with the requirements of the Charities Act 2011 and of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) ## Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation’s ability to continue as a going concern for a 12 Independent auditor’s report To the trustees of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## Other Information The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion: - The information given in the trustees’ annual report is inconsistent in any material respect with the financial statements; - Sufficient and proper accounting records have not been kept; or - The financial statements are not in agreement with the accounting records and returns; or - We have not received all the information and explanations we require for our audit ## Responsibilities of trustees As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the 13 Independent auditor’s report To the trustees of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## Auditor’s responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below. ## Capability of the audit in detecting irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: We enquired of management, and the finance committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to: - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; - The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations. 14 Independent auditor’s report To the trustees of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation - We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. - We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. - We reviewed any reports made to regulators. - We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. - In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 15 Independent auditor’s report To the trustees of the Trust Property and Funds Held in Connection with St Columba’s Church and Congregation ## Use of our report This report is made solely to the charity's trustees as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## Joanna Pittman Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TLG Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006 Date: 26 June 2025 16 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |**Note**
**Income from:**
**2**
Donations and fees
Use of premises
Investments
Legacies
**Total Income**
**Expenditure on:**
**3**
Ministry
Premises
Administration
Other costs
Grants made and collections for others
paid over
**5**
**Total Expenditure**
**Net income before gains on**
**investments**
Net gains on investments
**7**
**Net income**
**Transfers between funds**
**12**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**2024**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds†**
**2024**
**£**
**£**
**£**
259,685
11,135
270,820
439,773
-
439,773
101,032
125,423
226,455
1,488
160,551
162,039
801,978
297,109
1,099,087
182,203
-
182,203
238,127
4,799
242,926
251,785
-
251,785
9,987
-
9,987
-
94,358
94,358
682,102
99,157
781,259
119,876
197,952
317,828
148,054
173,001
321,055
267,930
370,953
638,883
(2,000)
2,000
-
265,930
372,953
638,883
5,169,135
3,708,370
8,877,505
5,435,065
4,081,323
9,516,388|**2023**| |---|---|---| |||Unrestricted
Restricted
Total
Funds
Funds**†**
**2023**
£
£
£
273,394
12,815
286,209
389,277
-
389,277
79,295
101,539
180,834
46,500
-
46,500| |||788,466
114,354
902,820| |||175,308
-
175,308
175,885
13,990
189,875
238,528
-
238,528
10,571
-
10,571
-
61,582
61,582| |||600,292
75,572
675,864| |||188,174
38,782
226,956
138,785
173,966
312,751| |||326,959
212,748
539,707
(2,000)
2,000
-| |||324,959
214,748
539,707
4,844,176
3,493,622
8,337,798| |||5,169,135
3,708,370
8,877,505| † Restricted Funds include the Endowment Fund on which there was no movement in 2023 or 2024. At all times covered by this report it had a balance of £321,717 representing fixed tangible assets of £314,742 and cash of £6,975. 17 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **BALANCE SHEET AT 31 DECEMBER 2024** ||**BALANCE SHEET AT 31 DECEMBER 2024**|| |---|---|---| |**Notes**
**FIXED ASSETS**
Tangible assets
**6**
Investments
**7,11**
**CURRENT ASSETS**
Debtors
**8**
Deposits with Church of Scotland Inv
Trust
Cash at bank and in hand
**9**
**LIABILITIES**
Creditors due within one year
**10**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Endowment fund
**12**
Restricted income funds
**12**
Unrestricted income funds
**12**|**2024**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds†**
**2024**
**£**
**£**
**£**
2,416,025
314,742
2,730,767
2,641,667
3,372,991
6,014,658
5,057,692
3,687,733
8,745,425
34,581
-
34,581
408,216
265
408,481
9,186
393,325
402,511
451,983
393,590
845,573
74,610
-
74,610
377,373
393,590
770,963
5,435,065
4,081,323
9,516,388
-
321,717
321,717
-
3,759,606
3,759,606
5,435,065
-
5,435,065
5,435,065
4,081,323
9,516,388|**2023**| |||**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**†
**2023**
**£**
**£**
**£**
2,417,567
314,742
2,732,309
2,286,920
3,206,694
5,493,614| |||4,704,487
3,521,436
8,225,923| |||26,450
-
26,450
296,513
265
296,778
214,883
190,051
404,934| |||537,846
190,316
728,162| |||73,198
3,382
76,580| |||464,648
186,934
651,582| |||| |||5,169,135
3,708,370
8,877,505| |||-
321,717
321,717
-
3,386,653
3,386,653
5,169,135
-
5,169,135| |||5,169,135
3,708,370
8,877,505| † Restricted Funds include the Endowment Fund on which there was no movement in 2023 or 2024. At all times covered by this report it had a balance of £321,717 representing fixed tangible assets of £314,742 and cash of £6,975. Approved by the Kirk Session and signed on its behalf by Charlotte Bradford Session Clerk 27 May 2025 Roderick Buchanan Convener of the Finance Committee 27 May 2025 18 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **STATEMENT OF CASH FLOWS FOR THE YEAR TO 31 DECEMBER 2024** |**Notes**
**_Net income for the year (per SOFA)_**
**Reconciliation of net income to net cash**
**used in operating activities:**
**Adjustments for:**
Depreciation charges
Dividends and interest relating to investing activities
Decrease in debtors
(Decrease) Increase in creditors
**_Net cash used in operating activities_**
**Cash flows from investing activities:**
Dividends and interest
(Gains) on investments
Purchase of investments
Purchase of fixed assets
**_Net cash used in investing activities_**
**_Change in cash and cash equivalents in the year_**
**Cash and cash equivalents at 1 January**
**Cash and cash equivalents at 31 December**
**Analysis of cash and cash equivalents**
Cash
**9**
Short term deposits
**Cash and cash equivalents**|**2024**
**£**
**£**
638,883
7,755
(226,455)
(8,131)
(1,970)
(228,801)
410,082
226,455
(321,055)
(199,989)
(6,213)
(300,802)
109,280
701,712
810,992
402,511
408,481
810,992|**2023**
**£**
**£**
539,707
4,420
(180,834)
118,997
16,271
(41,146)
498,561
180,834
(312,751)
(419,990)
(20,236)
#########
(73,582)
775,294
701,712
404,934
296,778
701,712| |---|---|---| |||| 19 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1 ACCOUNTING POLICIES** The following policies have been used consistently in dealing with items considered material to the Church's financial statements. ## **Basis of accounting** The financial statements have been prepared in accordance with the Charities SORP(FRS 102) (2019) (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) (2019), FRS 102 and the Charities Act 2011. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn. The financial statements have been prepared to give a ‘true and fair’ view and under the historical cost convention, modified by the revaluation of investments to market value. In applying the financial reporting framework, the Kirk Session has made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. ## **Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. The Kirk Session does not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **Going concern** The Kirk Session considers that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Donations** Voluntary donations are recognised when they are received. ## **Legacies** Legacies are credited to income as soon as their receipt and quantum are probable. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. ## **Investment income** Investment income and realised and unrealised gains and losses are allocated to the pooled funds (congregational, Napier, Ramsay Fabric and 7 minor funds) in proportion to their value at 1 January. The allocation is adjusted for significant exceptional inflows of funds, e.g. from legacies. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably **.** Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **Pension Contributions** The Church contributes to the personal pension schemes of certain employees and operates a workplace pension scheme using the National Employment Savings Trust (NEST). ## **Grants made** Grants made are charged to the relevant fund in the year in which they are approved, communicated to recipients and paid. ## **Funds** Unrestricted funds may be used for the objects of the Church without restriction. Restricted funds are to be used within the restrictions laid down by the donor. Permanent endowment funds are held as capital with no power to spend the funds, although income from them may be spent without restriction. ## **Tangible fixed assets** All assets are for charitable use. ## **Freehold Property** In the Trustees' opinion replacement and market values of land and buildings (church, manses and tennis club) exceed book value, so no depreciation has been provided. The Fabric Committee regularly review the assets to ensure no material diminution of value. Freehold property is carried at original cost. A reserve fund, the Ramsay Fabric Fund, is used to make financial provision for future repairs or replacements. Significant repairs and renewals are charged to this fund when they are incurred. ## **Pianos and Office Equipment** Such items costing over £500 are capitalised and shown at cost less accumulated depreciation, provided at 10% (pianos) or 25% (office equipment) of cost p.a. once in use. ## **Liabilities** All material unpaid invoices and contractual obligations at year end are accrued for in these accounts. ## **Financial Instruments** The Church has basic and non-basic financial assets and financial liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Non-basic financial instruments are measured at fair value with any gain or loss going to the statement of financial activities. Full details are given in the investments note (note 7) and financial instruments note (note 11). ## **Listed investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Creditors** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 20 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**2 INCOME**
**Notes **
**Donations and fees**(including tax recoveries)
Open plate
Online Donations
Planned giving
Collections for others
**5**
Other donations
Wedding and other service fees
J.H. Rhynd Bequest*
Other income
_* Held by the Church of Scotland for the benefit_
**Use of premises**
Hall hire
Organ use
Manse Rental
**Investment income**
Dividends
Interest
**Legacies ****
H Sheriff
M Parkinson
C Freeman
E Stewart
F Taylor
S Harrington
M E N Agnew
JA Nicholson
**Total income**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
24,077
-
24,077
6,496
-
6,496
150,681
-
150,681
-
11,135
11,135
53,429
-
53,429
14,228
-
14,228
7,931
-
7,931
2,843
-
2,843
259,685
11,135
270,820
_of St Columba's._
439,193
-
439,193
580
-
580
-
-
-
439,773
-
439,773
90,358
113,289
203,647
10,674
12,134
22,808
101,032
125,423
226,455
-
160,551
160,551
1,488
-
1,488
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,488
160,551
162,039
801,978
297,109
1,099,087|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
37,628
-
37,628
6,660
-
6,660
150,985
-
150,985
-
12,815
12,815
60,656
-
60,656
7,507
-
7,507
7,039
-
7,039
2,919
-
2,919| |---|---|---| |||273,394
12,815
286,209| |||387,926
-
387,926
571
-
571
780
-
780| |||389,277
-
389,277| |||71,149
91,823
162,972
8,146
9,716
17,862| |||79,295
101,539
180,834| |||-
-
-
24,000
-
24,000
10,000
-
10,000
5,000
-
5,000
5,000
-
5,000
1,000
-
1,000
1,000
-
1,000
500
-
500| |||46,500
-
46,500| |||| |||788,466
114,354
902,820| 21 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**3 EXPENDITURE**
**Notes **
**Ministry**
Ministries and Mission contribution*
Other dues and ministry expenses
Sunday School and Crèche
**Premises**
Church utilities
Church maintenance
Cleaning
Minister's manse
Fulham manse
Caretaker's flat
Depreciation
Insurance
**Administration**
Local salaries and fees
Other employment costs
Other music costs
Communications
Computer
Audit and legal **
Sundry expenses
**Other costs**
Hospitality
Tea Together
Magazine
Bookstall and Life and Work
**Charitable grants from:*****
- JM Napier Fund
- Collections for others
- Benevolent Fund
- Alexander Rose Memorial Fund
- St Columba's House Fund
**Total expenditure**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**£**
**£**
**£**
172,907
-
172,907
8,581
-
8,581
715
-
715
182,203
-
182,203
82,065
-
82,065
50,004
4,799
54,803
39,906
-
39,906
3,411
-
3,411
4,008
-
4,008
17,828
-
17,828
7,755
-
7,755
33,150
-
33,150
238,127
4,799
242,926
177,732
-
177,732
18,424
-
18,424
4,614
-
4,614
20,627
-
20,627
11,202
-
11,202
14,010
-
14,010
5,176
-
5,176
251,785
-
251,785
5,935
-
5,935
75
-
75
3,308
-
3,308
669
-
669
9,987
-
9,987
-
61,451
61,451
-
11,135
11,135
-
1,688
1,688
-
18,066
18,066
-
2,018
2,018
-
94,358
94,358
682,102
99,157
781,259|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
162,815
-
162,815
9,754
-
9,754
2,739
-
2,739| |---|---|---| |||175,308
-
175,308| |||69,726
-
69,726
24,042
-
24,042
37,881
-
37,881
4,042
13,800
17,842
4,030
190
4,220
2,023
-
2,023
4,105
-
4,105
30,036
-
30,036| |||175,885
13,990
189,875| |||167,815
-
167,815
23,003
-
23,003
5,757
-
5,757
19,375
-
19,375
7,738
-
7,738
10,620
-
10,620
4,220
-
4,220| |||238,528
-
238,528| |||3,016
-
3,016
-
-
-
6,870
-
6,870
685
-
685| |||10,571
-
10,571| |||-
37,142
37,142
-
12,815
12,815
-
3,447
3,447
-
6,688
6,688
-
1,490
1,490| |||-
61,582
61,582| |||| |||600,292
75,572
675,864| * All congregations contribute to a fund of The Church of Scotland which bears the cost of ministers' stipends and pensions, employer's National Insurance Contributions, the Housing & Loan Fund and the Mission and Renewal work of the Church. Stipends are paid in accordance with a National Stipend Scale related to years of service. ** Total governance costs in 2024 were £14,010 (2023 £10,440) relating to audit fees *** The total paid to institutions in 2024 was £72,586 (2023 £49,957) and the total paid to individuals was £18,046 (2023 £11,643). ## **4 INCOME FROM CHARITABLE ACTIVITIES** Certain of the church's activities, not primarily undertaken to raise money, may produce surpluses for the church. |**Income**
**Costs**
**Net**
**£**
**£**
**£**
Bookstall
498
39
459
**5 COLLECTIONS FOR OTHERS**
Collections were made for others and paid over as follows:
**2024**
**£**
Lenten appeal: Firefly (2023: The Irene Taylor Trust)
6,541
Festival of Silence
-
Poppy Scotland
1,470
Scots Care
1,666
Glass Door
733
Elders Dinner
-
Quiz: Glass Door (2023: Royal Scottish)
300
Harvest appeal
-
Curry Night (MIND)
135
Christian Aid
290
11,135|**2023**
**£**
5,554
3,860
760
966
550
550
475
100
-
-| |---|---| ||12,815| 22 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**6 TANGIBLE FIXED ASSETS**
**Cost**
Balance at 1 January 2024
Additions during the year
Balance at 31 December 2024
**Accumulated depreciation**
Balance at 1 January 2024
Charge for the year
Balance at 31 December 2024
Net book value at 31 December 2023
Net book value at 31 December 2024|**Freehold**
**property**
**Equipment**
**Sound**
**Systems**
**Pianos**
**Total**
**£**
**£**
**£**
**£**
**£**
2,705,787
40,707
18,838
17,549
2,782,881
-
3,985
2,228
-
6,213| |---|---| ||2,705,787
44,692
21,066
17,549
2,789,094| ||-
36,533
-
14,039
50,572
-
2,121
3,879
1,755
7,755| ||-
38,654
3,879
15,794
58,327| ||2,705,787
23,012
18,838
3,510
2,751,147| ||2,705,787
6,038
17,187
1,755
2,730,767| The market value of the properties are considered to be in excess of the cost. No formal valuation has been carried out but the properties are insured for sums totalling more than £35m. The freehold property includes the Church building, two manses (Fulham and Chelsea) and one tennis club (Acton). The equipment includes four a TV and a dishwasher. There are two sound systems included in that category. The pianos category comprises one grand piano and the upright digital |**7 INVESTMENTS**
**Market value**
Market value at 31 December 2023
Additions
Gain (loss) on revaluation to market value
Market value at 31 December 2024
**Invested in:**
**Church of Scotland Investors Trust**
Growth Fund Units at market value
Income Fund Units at market value
Unrestricted Funds
Restricted Funds
**Historical cost**
Growth Fund Units at cost
Income Fund Units at cost
**8 DEBTORS and PREPAYMENTS**
Debtors
Prepayments
**9 CASH at BANK and in HAND**
Permanent endowment
Pooled cash
Benevolent Fund (cash not in pool)
Alexander Rose Fund
St Columba's House Fund
**10 CREDITORS and PROVISIONS**
Church purposes
Church organisations
Alexander Rose Dividends
Income received in advance|**Pooled**
**Alexander**
**Total**
**Total**
**Funds**
**Rose Fund**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
5,126,389
333,797
33,428
4,760,873
4,760,873
199,989
-
-
199,989
419,990
303,703
17,047
305
321,055
312,751
5,630,081
350,844
33,733
6,014,658
5,493,614
**Total**
**2024**
**Units**
**£**
**Units**
**£**
**Units**
**£**
**£**
533,052
3,400,872
28,182
179,801
3,580,673
201,556
2,229,209
15,465
171,043
3,050
33,733
2,433,985
5,630,081
350,844
33,733
6,014,658
2,641,667
-
-
2,641,667
2,988,414
350,844
33,733
3,372,991
5,630,081
350,844
33,733
6,014,658
533,052
2,128,805
28,182
91,873
-
2,220,678
201,556
2,124,469
15,465
164,308
3,050
27,572
2,316,349
4,253,274
256,181
27,572
4,537,027
**2024**
**2023**
**£**
**£**
25,136
19,779
9,445
6,671
34,581
26,450
**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
-
6,975
6,975
-
6,975
6,975
9,186
318,360
327,546
214,883
118,179
333,062
-
24,633
24,633
-
20,344
20,344
-
40,666
40,666
-
41,707
41,707
-
2,691
2,691
-
2,846
2,846
9,186
393,325
402,511
214,883
190,051
404,934
**2024**
**2023**
**£**
**£**
58,381
52,068
11,917
14,936
4,312
6,194
-
3,382
74,610
76,580
**Pooled**
**Alexander**
**St Columba's**
**House Fund**
**Funds**
**Rose Fund**
**House Fund**
**St Columba's**|**Pooled**
**Alexander**
**Total**
**Total**
**Funds**
**Rose Fund**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
5,126,389
333,797
33,428
4,760,873
4,760,873
199,989
-
-
199,989
419,990
303,703
17,047
305
321,055
312,751
5,630,081
350,844
33,733
6,014,658
5,493,614
**Total**
**2024**
**Units**
**£**
**Units**
**£**
**Units**
**£**
**£**
533,052
3,400,872
28,182
179,801
3,580,673
201,556
2,229,209
15,465
171,043
3,050
33,733
2,433,985
5,630,081
350,844
33,733
6,014,658
2,641,667
-
-
2,641,667
2,988,414
350,844
33,733
3,372,991
5,630,081
350,844
33,733
6,014,658
533,052
2,128,805
28,182
91,873
-
2,220,678
201,556
2,124,469
15,465
164,308
3,050
27,572
2,316,349
4,253,274
256,181
27,572
4,537,027
**2024**
**2023**
**£**
**£**
25,136
19,779
9,445
6,671
34,581
26,450
**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
-
6,975
6,975
-
6,975
6,975
9,186
318,360
327,546
214,883
118,179
333,062
-
24,633
24,633
-
20,344
20,344
-
40,666
40,666
-
41,707
41,707
-
2,691
2,691
-
2,846
2,846
9,186
393,325
402,511
214,883
190,051
404,934
**2024**
**2023**
**£**
**£**
58,381
52,068
11,917
14,936
4,312
6,194
-
3,382
74,610
76,580
**Pooled**
**Alexander**
**St Columba's**
**House Fund**
**Funds**
**Rose Fund**
**House Fund**
**St Columba's**|**Total**
**Total**
**2024**
**2023**
**£**
**£**
4,760,873
4,760,873
199,989
419,990
321,055
312,751| |---|---|---|---| ||||6,014,658
5,493,614| |||214,883
190,051
404,934|| ||||**2023**
**£**
52,068
14,936
6,194
3,382
76,580| 23 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**11 FINANCIAL INSTRUMENTS**||||**2024**||**2023**|| |---|---|---|---|---|---|---|---| |**Financial assets measured at fair value through profit and loss**||||**£**||**£**|| |Investments *||||6,014,658||5,493,614|| |* Further details of these investments are shown in note 7|||||||| |**12 CHURCH FUNDS**|Balance at|Investment|Investment|Other|Payments and|Net|Balance at| |**For year ended 31 December 2024**|1 January|Income|Gains||& Expenses|Transfers|31 December| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| |General congregational funds|5,169,135|101,032|148,054|700,945|(682,101)|(2,000)|5,435,065| |Endowment Fund|321,717|-|-|-|-|-|321,717| |**Charitable restricted funds**|||||||| |J Murray Napier Fund|2,549,700|92,494|135,541|-|(61,451)|-|2,716,284| |Benevolent Fund|122,287|4,756|6,501|-|(1,688)|2,000|133,856| |Alexander Rose Memorial Fund|374,465|17,027|17,047|-|(18,066)|-|390,473| |St Columba's House Fund|36,275|1,862|305|-|(2,018)|-|36,424| |Collections for others|-|-|-|11,135|(11,135)|-|-| ||3,082,727|116,139|159,394|11,135|(94,358)|2,000|3,277,037| |**Other restricted funds**|||||||| |Ramsay Fabric Fund|176,090|6,388|9,361|160,551|-|-|352,390| |Scots in Great War London|5,970|-|-|-|-|-|5,970| |50th Anniversary Appeal Fund|41,991|-|-|-|(4,800)|-|37,191| |Sir Alec and Lady Martin Fund|9,243|335|491|-|-|-|10,070| |Sir Alec Martin Fund|1,226|44|65|-|-|-|1,335| |William R R Wilson Fund|69,406|2,517|3,690|-|-|-|75,613| ||303,926|9,284|13,607|160,551|(4,800)|-|482,568| ||||||||| ||8,877,505|226,455|321,055|872,631|(781,259)|-|9,516,388| ||Balance at|Investment|Investment|Other|Payments and|Net|Balance at| |**For year ended 31 December 2023**|1 January|Income|Losses||& Expenses|Transfers|31 December| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| |**General congregational funds**|4,844,176|79,295|138,785|709,171|(600,292)|(2,000)|5,169,135| |Endowment Fund|321,717|-|-|-|-|-|321,717| |**Charitable restricted funds**|||||||| |J Murray Napier Fund|2,376,201|76,590|134,051|-|(37,142)|-|2,549,700| |Benevolent Fund|113,455|3,878|6,401|-|(3,447)|2,000|122,287| |Alexander Rose Memorial Fund|351,321|11,528|18,304|-|(6,688)|-|374,465| |St Columba's House Fund|34,995|1,550|1,220|-|(1,490)|-|36,275| |Collections for others|-|-|-|12,815|(12,815)|-|-| ||2,875,972|93,546|159,976|12,815|(61,582)|2,000|3,082,727| |**Other restricted funds**|||||||| |Ramsay Fabric Fund|174,602|5,628|9,850|-|(13,990)|-|176,090| |Scots in Great War London|5,970|-|-|-|-|-|5,970| |50th Anniversary Appeal Fund|41,991|-|-|-|-|-|41,991| |Sir Alec and Lady Martin Fund|8,490|274|479|-|-|-|9,243| |Sir Alec Martin Fund|1,126|36|64|-|-|-|1,226| |William R R Wilson Fund|63,754|2,055|3,597|-|-|-|69,406| ||295,933|7,993|13,990|-|(13,990)|-|303,926| ||||||||| ||8,337,798|180,834|312,751|721,986|(675,864)|-|8,877,505| ## **Charitable Restricted Funds** The J Murray Napier Fund is a restricted charitable fund, which makes grants under the terms of a charitable scheme. The Benevolent Fund makes grants to or for the benefit of needy individuals. The Alexander Rose Memorial Fund is a restricted charitable fund which assists poor Scotsmen and their families in London. The St Columba's House Fund is a restricted fund, registered charity no. 258639, which assists women and girls in Greater London. ## **Other Restricted Funds** The Ramsay Fabric Fund is used for building maintenance. One legacy was allocated here during 2024. The Scots in Great War London initiative is to digitalise the church magazines (£5,970 available at year end; no expenditure during 2022). The 50th Anniversary Appeal Fund is a restricted fund which arose from an appeal in 2005 to raise funds for major refurbishments. The Sir Alec and Lady Martin Fund is a restricted fund set up to support the Sunday School (75%) and choir dinners (25%). The Sir Alec Martin Fund is a restricted fund set up to support the Sunday School. The William Ross Reid Wilson Crèche Memorial Fund is a restricted fund, the income from which is to support the crèche, while the William Ross Reid Wilson Chapels Memorial Fund is a restricted fund, the income from which is to benefit the London Scottish Chapel and Tower Chapel Columbarium. 24 ## **ST. COLUMBA'S CHURCH OF SCOTLAND** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**13 CHURCH ORGANISATIONS**
Sunday School
Flower Guild
Service Unit - "Tea Together"
Hospitality Committee|Balance at
Income
Donations
Expenses
Donations
Transfers
Balance at
1 January
& Legacies
made
31 December
**£**
**£**
**£**
**£**
**£**
**£**
**£**
1,717
-
-
-
-
-
1,717
4,539
-
785
(1,173)
-
-
4,151
1,192
-
-
-
-
-
1,192
8,596
5,061
-
(4,825)
-
-
8,832| |---|---| ||16,044
5,061
785
(5,998)
-
-
15,892| The above organisations are not fully consolidated in the financial statements as day to day decisions are not controlled by Kirk Session. The Flower Guild balance includes the amount held with the Church within Creditors (church organisations). ## **14 EMPLOYEES** St Columba's employed 8 full- or part-time employees during the year (2023: 8). The average full-time equivalent number was 4 (2023: 4) and their total cost was £192,335 (2023: £190,817). Payments to the trustee and son of the trustee detailed in note 15 are not included in this figure. Remuneration consisted of gross pay £147,465 (2023: £142,994), employer's NIC £6,777 (2023: £5,781) and pension contributions £11,224 (2023: £9,491). No employee received emoluments in excess of £60,000. All key management personnel are volunteer trustees, so no remuneration or benefits were provided to them (2023 nil). ## **15 TRUSTEES** No trustee received remuneration or reimbursement of personal expenses in the year to 31 December 2024 (2023 nil) for acting as trustee. As a significant proportion of donations received are made anonymously through cash collections it is not possible to quantify total donations made by trustees Two trustees, Ms F Gardner and Mr G Wallis, received £2,920 (2023: £4,783) and £900 (2023: nil) respectively for acting as relief administrators, as permitted by the Charity Commissioners. The son of a trustee, Mr PW Bradford, received nil remuneration (2023: £99) for acting as a relief caretaker. ## **16 COST OF GENERATING FUNDS** In the opinion of the trustees, no material cost was incurred in generating voluntary income or managing investments. ## **17 CONTRACTUAL OBLIGATIONS** The value of contracts entered into but not completed by 31 December 2024 was £nil (2023 £nil). No contract was entered into for which work commenced after 31 December 2024 (2023 none). No contract for which work had not yet commenced had been entered into at 31 December 2024 (2023 none). ## **18 INSURANCE** Premiums totalling £33,150 (2023 £30,036) were incurred during the year to insure the structure and contents of the Church; the structures of the two manses and the tennis club; and includes insurance in respect of terrorism, employer's liability, public liability, business interruption, staff personal accident and trustees' indemnity. ## **19 RELATED PARTY TRANSACTIONS** Other than the transactions with trustees disclosed in Note 15 above, there are no related party transactions to disclose for this financial year (2023: ## **20 TAXATION** The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. ## **21 POST BALANCE SHEET EVENT** Since the year end, the charity has seen the value of its investment portfolio fall by approximately £159,000 (3%) as of 6 June2025 primarily as a result of market volatility. The board are aware of this event which has impacted the charity between the board's formal approval of the report and financial statements and the audit report being signed. 25