Chartty R•gbtratlon No. SCI)00293 Iscouand
SHETLAND CHURCH OF SCOTLAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

SHETLAND CHURCH OF SCOTLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Charlty numb•r Iscotlandl
SC000293
R•glsterod offl¢•
Indep8ndgnt oxamlftèr
Iiene Hamblèton 8A(t CA
A.J.8. Scholos Ltd
Chartered Actnunt8nt8
St Olafs Hall
Lerwi¢k
Shellantj Id8$
ZE1 OFD

SHETLAND CHURCH OF SCOTLAND
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present tr￿"r rèport and acc(xmls year ended 31 Dtcember 2022.
The trustees present thth"r annual rep(Kt aThJ fina￿la1 *lements of the chth for year ended 31 December
2022 The finanaal slalèments have been prepar&J in accordance ￿th the ac¢ounbng wliaes sel out in note 1
lo the a¢￿Unts and compty th the General Assembty Regulthons for Congregational Finance, Ihe Chanties
and Trustee Investment ISeolarKII Ad 2C￿5. the Chants'es Acownts IScotlarKII Regulaty"on$ 200618$ amended)
and A￿untIng and Reporti'ng by Charities.. Statement of Rec£*mmended Practice aprAicable lo charitses
preparing their accounts In accordan￿ wth the Fina￿lat Re￿￿"n9 Stsndard applicable in the UK ard Republic
of Irdand IFRS 1021 las *nended for ￿t￿nts'ng commencAThJ from January 20191.
Oblgrtlves and actlvlll
The Church of S￿lIand is Trinitar￿n in thcIn"￿. Re10m￿d in tradit￿ and Presbylerian in pdity. 11 exists to
glonfy God and lo for ts advancement of Chnst's ￿"￿￿j0M througPKMrt the vK%ld. As a national Church. il
kn￿edgeS a distsnctwe call and duty to bn.ng the C￿dinar￿eS of rely¢)n lo ts peO￿e in every parish of
Scotland IhrovJh a lemtorial ministry. 11 cwerales other Churches in various ecumenKal bodies in
s￿lIand and beyond. The Elders of Shetland Church of Scodand wts) make up the Kirk Se$s￿n are together
trustees ol Shetland Foodbank which operates undw the a￿￿￿S of the Shetland Churth of Scotland.
Individual Local ConwgatK)ns in shau￿￿j Church ol SeL)la)d of rel1W￿ and events. LcKal
CongregatTh)s hold weekty or fOrtn￿ht1Y worship 5erytis on Sundays. every￿ coming together lor united
services two or three bmes a year in various locats(%LS The Lcta Cmjregakns at &Jrra Isle. Ath. W)alsay.
Sandvnck, and Brae wn small Sunday Schcds for thal thildren. The Youth and Children's ￿rker assists
youth group al the Arnlersu) High SchocA in LerwK*. A Chureh of Scouand GLJild meets al Unsl. Yell, ￿81$ay.
8urra. Scalloway. and SaThtsck, while an attemabve 'Fnends' group meets at Lerwick Sl Columba's. Each
church h8s a regular wogramme of social events. such as qU￿ze3, kndraI￿ng events. exhibrtions, ￿ffee
momings, and concèrt5.
A¢hlev•n*nts and p•rfornMnc•
Loc81 c0ryregat￿5 were able to xhieve g)od attendar￿e al events swwees and had planT￿ for a tYJ5y
and ath've year. Plans induded Easter events throughrxrt the paiish. Lent SW groups lonline Trpèrson},
Harvest services through the pansh. Harvest auc￿ns. t&75. a walk of in LerwKk. nv•V51ettws kwng
overyone up-t*>date on **knat was happening in the parish, S￿daY Se￿ceS. online Sunday service wth a regular
attendance of about 1(k15. in-person Sunday s¢jK￿￿oreSI Churth, Christrna$ services. Naliwty services,
representatth at local agn￿rtUral $rKy￿. and unrte(I pansh seThryces.
Fln*ncl•l rnvlew
The pnndpal 80urce of irbcc*ne is weekly offemgs. in 20L, amwnted lo almost 78% 12021." 86%> of
donations and grfls exdu(th'ng legacy income The TnJstees a￿ heartened that wr ir￿)rne from ¥￿klY offerings
has begun to ststs.lise follw.ng a swificant drop In prevK)U5 years. ho¥•￿eT we still need to draw on income
from Investment5 to meet all experKlrture. It IS sts"Il Ihe Intenbon of ttle Tn￿tee3 to Tun a stewardship campaign
and lo encourage more fundrai￿ng acti¥rties through¢Jth the wsh.
Prlor perk)d adjustmeni
A prior year adjuslmenl was madè lo the 2021 comparakn.ves in line Vlith actounting reqU1￿Ments. ￿ ehafty
was found lo have been notsfied of their entiuement lo a generws legacy In the year ended 31 Deeember 2021,
althwh the amount was 0￿Y re￿ved in in the year ended 31 Dec*mbef 2022 A prv)¥ year adiustsnent has
Ihwel￿e been made lo Indude the *a¢y of £235.016 Jn iThxxne. d8bt¢ys arnj unrestrKaed fiJrKls in the year
ended 31 D8c8mber 2021 See note 23 for more ¢Jetail.
Inv•strn8nt Pollcy and P•rlonnance
All the pansh's investments S￿ held in the Church ol SctharHJ Investor's Trust Gr¢Trth and Ir￿me Funds. The
Trustees have no c￿trOl over the mvestments are manw. In 2022, the market value of our investments
rose by appr0￿matelY 6.6% overdll. wth the Ineome FurKI performing less a bss of 18% WI¥￿ our
assets in the Growth Fund rose by 11.1%

SHETLAND CHURCH OF SCOTLAND
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Rlsk IAanag•m•n¢
To minimis6 these nsks, Shettw¥J Cthh of SCcrfa￿j *YJrked hwd 2022 to keep in icmjth its
congregants. Cards and w￿letter$ were serrt. induded in1om1at￿ aboLrt hcw don8tths coukl b8 made
onlino or by cwue. Shevand Church of ScottaTrJ was planning a Stwardship Campawi In earty 2022. %there
pwple would be er￿Quraged lo ygn up lo Grfl Ajd and dwte by Stsnding Order In the end rt wa5 not practical
to do this irtrper￿ so congregants were thi'sed on hcw to (knale de(JJonicalty in the parish rthAlèttern.
R•serves Polky
The charity trustees have conTAdered the reserves rwmred ar￿ have tak•n into acc<Junt thwr ￿rrent and thJtur•
1rabi1￿"es. 11 is the Trustees. Fdicy to hc4d reserves of apPr0￿ma1ety ttwee months exFeThYrture indud
d￿gnated fimds Al the year end th• Churth W Ur*estrWX￿ fvnds of £87T,75012021- £973,984) ¢￿￿$ting
of".
£21,71012021- £25,975) d￿r￿ted for a variety of Iccal and nll12021- £4.2651 d8sKJnaled
for the running of the Gurfds a￿ ncmf ￿￿mIed for independently.
G•neral un￿strICted Funds of £370.52212021 - £222.020} wh)ich represents abcyjt twetve months
eypendrtwe while trms is shghty huhef than would nomalty be exrAded the Twslees aTr aware of
th• need to update many of the trNjI￿ingS being retained to woduc* knll equipped spac*$ in the right
es".
. ufft5ln￿ ftmd for fixed assets I￿Je￿ irtemalty of £485,51812021 . £49),9731
Tho church also h•ld £121,671 (2021 . £108.332} of rnstrbxed trJvJ$ ¥thi(* have been for the pUrF￿SeS
speofied in Note 18 belc¥w.

SHETLAND CHURCH OF SCOTLAND
TRUSTEES REPORT (coKnNUED)
FOR THE YEAR ENDED 31 DECEAIBER 2022

SHETLAND CHURCH OF SCOTLAND
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Structurop giw•rnan¢o and manag•nwnt
The COngre￿On Is a regislered charrty. number SC000293 and is admiThsie(ed in aC￿rd￿ wth the terms of
the Deed of Conslrtution (Unilary Forml and Is S￿4"￿t to the AQS and Regulations of the Gener81 Assembty of
the Church of Scotland.
Membors of Ihe Kirk Ses5Kn are lh8 C*￿ty trustses. The I￿.￿ Session memt*r8 the ebjers of the church
and a￿ chosen from Ihose membèrs of Ihe church are {￿￿￿dered to have the appropriale grfis and skibls.
There are three ministers in the Parish of Shettand. Mmister 1. a member of the ￿rk Sés&on, is
T¥ansilion Kthnister who was appoinled lo the Presbytery in 2018." Minister 2. vtho 15 a member of the Kirk
Session. is dected by the congregabon and indLthd by Presbytery., Minister 3. vtho is a mèmber of the Kitk
Session. was appointed by Presbytery as an Interim Minister. Certarn resp￿s1￿.1itieS are delegated to the
Finance Committee 8nd the Propoty Committee as aFvcyiate. The Kwk Ses•￿, meets lour tsmes a
year, is responsible fty S￿￿tila1 atrthrs Ihe chLfCh.
Tlie li Lislèes wfio served dunng the year were"

SHETLAND CHURCH OF SCOTLAND
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The tnjslees are responsible for Pf8Pariry the Trusle¢5 Report and the ftnanual st8temenls In accordance w
applicable and United Kingdom Accounting Standards (United Kingdom Generally Accepted ACc¢￿nI1
Prathcel.
The law appll¢able lo charities In Seolland r8qulr8s the Iruslees lo prepare financlal stsl8menls for each finanty
year give * tTUé and fail vlew of the ¥tsle of 8ff8if8 of the charity and of the incoming resources
application of resources of the charity for Ihal year
In preparing these ftnancial ¥ts1omgnts, the Iru$l•es are requlred lo.
- fd•ct suilgblg accounling poliu?¥ an(1 Ihgn apply them con￿ltantlY,.
- observe the methods and prfnciplos In the Charitie8 SORP..
- make judgamanl$ and o8tlmales that are r8a8onatAe and prudonl.,
- slate whèlhor 4ppli¢8￿• 4¢¢ounting standards have been foll￿0d. sulloct lo any mated81 depa￿re8 dl8do
nd ex￿ain￿d In the fln8no•l statwnent¥,' and
- prepare the financial stsl•mgnls on the golng ¢on¢•m ba8ls unle85 rt 18 inappropd818 lo presum• Ihat ts chari
wlll continuo in opgratson.
The Iru$lee8 are re8pon8ible for keeping Sufficignl Bccounling record8 that disclose with re88on8ble aecuracy
any Ilme th8 flnanclal p0811ion of the charity and enable them lo onsure Ihal the financial gt81omonls comply
the Chantie8 and Trust88 Investment (Scollandl Ad 2005, the CharilJ88 Accounts (Scollandl RegulalKJns 20061
amended) and the provisions of the Irugl deed. They are a180 rèsponsib￿ for saleguafdlng the 8ssel3 ol the cha
nd hence for taking reasonable steps lor the prevention and deleth¢Jn of fraud and olhw Irregularities.
The truslees arg responsi￿ts for th8 m8inlen8nce and Integrity of the charty and financial infomalion on
congregation'8 website Legislation in the Unllèd Kingdom govemlng the prépar8tlon and dlsBomin8lon of Iln8nd
Statements moy differ Irom1¢gl￿atItsn In other juriBdidions.

SHETLAND CHURCH OF SCOTLAND
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Prlnclpal Oftlce-bearors
Minister5
Session C
ei*
Church Trtra•uivi
Priiicipal OtrIGe
Charily No.. SCCK)0293
Indeppnden. Examln•r
Id
St Olaf s Hdl,
Church Road
Le￿Ick
ZE1 OFD
B•nk•r•
Roygl Bank of Seolland
81 Commeraal Slr8ét
LERWCK
Shetland
ZEI OAD
The Iruslees report was approved by the Board ol Tw$lea$.

SHETLAND CHURCH OF SCOTLAND
BALANCE SHEET
AS AT31 DECEMBER 2022
2022
2021
rnststod
Flx•d •￿e¢S
Tangible assèts
Inve5tTnents
12
13
494.318
259.363
501.9
91.7
753.681
593.7
Curr•nt w•ts
Debtors
Cash at bank and in hand
14
63.477
252.628
284.734
258,367
316.105
523,101
Cr•dltor¥: amounts falllng du• *lthln
one y••r
15
(69.6101
133.75S
Net current assets
246.495
Total l•ss cuffent Ilablllll•8
1,ODJ.176
1,083,0
The fund• of th• ch•rlty:
Endowment fiJnd8
Restncted funds
Unrestricled designated fiJrKIs
Unrestn'ded incL)me IwKI$
Unro8tnd&d ¢apllal lund
17
18
19
755
121.671
108.3
21,710
370.522
485.518
25,975
457,036
49).973
877.750
973,
1.OCQ,176
1.083.0
The &couM8 were appfovod ty the Tntstees on ...
ivustvv

SHETLAND CHURCH OF SCOTLAND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
rnst•t•d
Totsl
2021
Unrnstrlctod Rostrlcted Endowmont
nds
Total
2022
t)onations and ￿aCleS
Charitable ar￿VrtieS
Other tradirKJ actNrties
Investments
Other income
231.723
2.465
232,413
2,465
58.108
11.636
6,130
427,008
58.108
26,898
1.475
4,165
11,621
244
Total Inc¢)m• •nd •ndowm•nts
246.053
64,699
310,752
461,908
Rai&ng lunds
227
227
Charrtable ath"viti"es
304.549
51,360
355,909
302.817
Other
5,122
5.122
Total f•sourc•8 •xp•nd•d
309.898
51.360
361.258
303.161
Net g8insllk)6sesl on investments
11
132.3891
132,389}
6,C67
N•t fnovem•nt In funds
196.2341
13.339
(82,8951
164.814
Fund balances at 1 January 2022
973.984
108.332
755
1,083,071
918,257
Fund balanus •t 31 Dec¢mb•r
2022
877.750
121.671
755
I,(￿).176 1.083.071
The statem￿( of fina￿al 8clivitres indudès all pns arKI bosses rects3nised in th& year.
All income ￿ expandrture derive wth"nuir¥J ac*"vities.

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2022
Accountlng pollcl••
Icontlnu
ErKIryMn￿ lurKls alè lunds have been &iven Cc￿rt￿ that the original Ca￿￿1 8um 18 n
charity
1.6 Incomlng resource•
Income. Induding govemment and other grn)ts, 'cawfal' wants or 'rev•nue' grants 1$ fteognl
vthen the eharity has enlrtlemenl to the fvAnds. ￿Y condthons altachèd to the Ilemlsl of Ir￿•
have b••n m•t. it li Mob4bl* th•1 th• incm be recer¥ed. and the amount ean bo moasured rel14￿Y a
is not dderred.
Don•tlon• and l•g*cl••
tlonation #nd legacy Inccffiè is reCoW¥"8￿ 7Ahgn the charity bocomes 8ntitl8d to the incAyne, il is pthabl
that il ￿11 be ￿¢th¥e￿ and the amount can bo measured felk*Ay Entivement lo a legacy exists th
charity has wJffit4ènl evklence Ihal a 9ffj1 has been left to the chanty and th8 execut￿ is satisfied that th
property In queSt￿n will not be requifed lo saknsfy claims In estate. A rec0iPt is nomalty prc4)aI￿e wh
Ihore ha$ bggn a grant ol wobale, exeeutors have eslablished that there are wffiuènt Ml a88els in I
estate, and any conditw$ ar• vthhln the cts)trol of the charty ￿ h•vè been mel.
Don•t•d Mr¥k•• •nd l•clllll••
Donated p￿le￿Crf￿I seryic•s and donated are roctynwd as Incrme vthen the tharlty has con
over item. any ￿ltI10n3 8¥soc￿ t•*rth th6 donated rtam have bèen m•1, the rècélpt of oconom
benefil from the by the thanty ol the rtem is probable Ihal economic benefft can be measured reliobl
In a¢￿￿ance ChWtt￿ SORP IFRS1021 tm gewal ¥olunleer bme of C(ryI99•t￿ mombors is
reccqnlsed
On rwt. donated yofeS8K￿aI s•rvK•s arnl d(xwtsd kn"Ilbe8 w• rwnlsod on the b•*.$ of value
the lo the cwty vthich Is the wnounl ts chm WKMJd have wllY¥J to pay to obl•in services
faulrties of equiv8￿nI econ￿￿ benefil ¢)FW mafket, a c(MrespryKling amount 1$ rwni8ed
expeThJrture In tho ol rec•pt
Int•r••t r•c•lv•bl•
Interest on funds held do￿511 is IrK4￿ recepiable 8nd amourf ean be measurod r•ll#bty
the chartty. this is rKAlficth crf th• interest pwd ty p8y8tAe ty the Barth.
1.6 R￿oUrC￿ •xp•nd•d
Incctho 8nd exponse8 are IncIL￿o ￿ Ihe financial statoments as Ily rocel¥oble ¢y dw.
Expens￿ include VAT vthere appluble as Iho clwty cwnot red*m rt.
All exp•nditure is i)n an •euual basm is rgccgnised when thwg 18 *81 or C￿str￿￿1¥￿ obllgati
to pay for expenditure ChanlalJ8 ath"vrties exF￿'tUre compnses Ihose costs incurred by the th8￿Y in
delivery of its acts'vrties and yervices foi rts t￿eficjari¢$. It Ir￿￿￿e5 bolh ￿stS that can be alocaled dlreclly
Such activitses, arKI those costs of ￿ IrKJ"fe¢l n81ure necessary lo support them.
Fabr1¢ •xp•ng
Nomal repairs and mairrtenanc* arn char9gd to the Genefl Fund and extr8ordinary repair8
impfovements are met Irc¥n tha Fabric F￿￿, an￿(ff by spetsal hm(tr•wng efft>rts Extraordinary req￿513
r8fiJrbthmenl mney must be approved by Kirk sessth. Prests￿ery and then the Church ol Scovand Gg
Truste•B. These aro mel from fvrKls he￿nVested on our by the Gon•r* Tru8t8e8.
10-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEAIBER 2022
Accountlng polkl•s
Charfty lftform•tlon
Shetland Church cd Scotland Is an unl￿OrpOraled ¢haniable or
anisatson Ttyistered 88 a tharty n Scotsnd.
Th• prm￿l aecombrwJ pol￿10S. v*tsch have t4en w)p1￿1 cmsotènly m thè ￿rrent yoar In
dealing *ith rtem8 wtrmch ￿ c(midored maten* to the accI￿nIs. are set bolow.
1.1 Accountlng convgnllon
The finanaal statemènts hav• be•n prèparéd In aCcc￿e tre charttys Deed ol ¢￿sIrtU11o￿, the
General ASsem￿Y Regulations for congregat￿81 Fir￿￿*, Accounb"ng an(J Reporti'ThJ by Charili83.
Statement of Recommer￿a0 Placlice applicable to o*ariti&s prepwlng accounts in acciydance with t
Financial Rep)thr4J Standard applicable m the UK aTrJ Repubuc of ITeland (FRS 1021 ￿ 8m8Thl•d loi
aceounliw peno(Is ending 1 January 2019 Ilhe SORPI. Ihe Chanbe5 and Trustee Inv•slment IScotlarKII A
200S 4nd the charits￿ AcLt4Jnls (Scollandl Reg￿allonS 2006 las am•ndgdl. Tho sh￿aTh1 Chtsrch of
s￿lIand is a Public Benefft Enbty as defined by FRS 102.
tharty has lakon thantage of the provlslcm In It* SORP charltteg applykng FRS 102 Upjaled
Bulletin l rni lo prepare a Statefftht of Cash F*M.
Tho ac¢wnt8 84e pr•parod In storfw. the fiJrth)nJl of the ¢h•ity. Monetary omO￿ts In
Imse fin￿￿81 statemonts arn ffjLmded lo the nearest £.
Tho have been yepwed M on wuols bam arAI tr* merg•r method ol accwitirvJ was 8pplied in
2020 as Il the c￿.118$ unity 8rKI fflorging ag ￿ i*￿ritY c￿lega￿.{￿ had aWays been comts'n•J T
total e0mw6hen￿¥8 inc(yne. assets and lia￿rt￿$ of Ihe entibes V4*e w)•nded. whère neeessary, lo align
accounkn.ng pc4icies. The cal￿ng values ol errtilies assets and Iwknhties W￿18 not &Jiu8tod lo lalr valu•.
1.2 Prlor p•rlod •rror
A wor year adiu5tmenl was m*le lo Ihe 2021 comparats¥e$ In hne r•q￿l￿n•￿•. Th? thanty
w88 found to have been no*fied ot Ihe¥ io a 9trwcwb l•gw In lh• y••i •r•J•d 31 DK•rt
2021, attrwh the am¢Junl wa8 onty r8ceNed in yeaf ernled 31 Decembor 2022. A prv year
adiu6tmenl ha$ ther8forn boan made 10 the legxy of £235.016 In Ircomè. dèbtorn and unre•trtct•d
funds kn the year erKlgd 31 D8ctynber 2021. See Th)te 23 lor mofe detwi.
1.3 Golng con¢•rn
The ¢*arrty is deperwJenl ¢)n JUFrAyI of Chwth ol Scollar￿ Genoral TruJle•B afyj olhor
lunLling agent)es lo fund 11$ ftxtwe a￿'¥rt￿S
At the ol atprovty It￿ finanaal statements, the Tru8tee8 have a rea80n8blè expectatKffl tr￿t the charty
has adequate resources lo corrtinue In operth(Th181islenc8 for the fore50eatAe luturo. On this ba818. the
Tru$lo0$ conllnu& lo adcpt the gory concem b￿S of aCc￿nt￿1g ￿ prepanng the financial statemerts.
1.4 Charhabb• funds
Funds are classfied as orthw 8ndcph￿ reslricted l￿dS or ￿Test￿rIed frK*Js. dgffin•d 89 frAlowa.
Unrestricted lund5 are experthble 81 Ihe tJiscselKffj of Ihe trusiees In fvrtherance ol U)e objects ol the charfty.
If part¥ ol tho unrestricted hjnds are eamwrtthfj 81 ts disueliffi of the truJlee8 for a particular pUr￿se, they
are de8ignated as * separate lund. Ths deygnthi has an adminL8tratrve t￿lY arKI doés ncrt legally
reStn'￿ the Irustee8' th"screlion to Ihe lund.
Reslricr81l are funds subj￿1 to $￿fiC r￿u￿ementS a$ to use may be ded8r8d by thè
¢J¢yKy or th•lr •uthortty or u••t•d Ihr¢wh kngal proct8•M. 81111 *th'n tr• widor thects of thwty.

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Don•tloM and l•ycl••
•• rn•la
Totsl
2022
fund¥
fvnd•
21
Donatlon8 and gffts
231.723
232,413
427,
For th• y••r •nd•d 311)•c•mb•r 2021
426,120
427,
Oonatlon• •nd glft•
Offerin98
Rewpts from Genwal Twstee
T•x recovered ￿ Grft AKI
Crthèr
Legacy incom
182.070
28.353
21.300
182,780
28,353
21,300
189.
15.1
235,
231.723
890
2J2,413
427,
Ch•rM•bl• actlvltS
2032
Incomo from wllhin Ch￿￿0 activib"
2.465
Oth•r tr*dlng •ctl¥ltl••
2022
20
Foodbank
58.108
26,8
12-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
A¢¢ountln9 polkl••
{Contlnu•d)
1.7 Tanglbl• flx•d a8•ts
Tangible fixed assets ￿ inrflalty mèasured at cost and wbsequenty measLwed 41 c¢st crf valuation. net ol
deprea•l*￿ and any iMpalm￿nt lossos.
Depreciation is reecgnwd so as to ¥bYrte off the cosl (* ¥￿ual￿ of assets less tr￿'r resKlual values over th￿1
usèful INes on tho I￿k￿"r@ bases..
L￿h0￿j iM￿¥•MentS
Plant arKt equipment
Fixturo$ •nd fittirys
25￿rn
5-10yearn
Syea
Th• ¢h•nty has the nghl lo occupy and use for rt$ charrtable obpcts cwtain langibjo fixod as8•t8, including
the Churches, h8118 and monso9. vèsted In Ihe Church of Scouand General Twslees No cwKl¢ralion 18
payabkn for the use of these assets. Exp•ThJrture tn¢urTod ￿ the repair and mainténance of th•8e assets is
charggd 98 rea￿￿¢•8 exFwd•d In th• Siatemenl of FM8￿181 A¢*￿'tiO# In ttK• penod In the Ilats'lity
anses.
The g￿n or Ioss Bri￿ng on the di¥￿￿ of an asset Is d8tem)ined as the belww th8 $018
proc6ed8 and the carrying value of Ihe a88el. 15 reeo3ni88d in net incompjlexpenditurol for tho yèar
All tang￿• fixed 38sels cost*)g ￿ exc•88 of £5.000 havlng a Va￿ lo lh• chanty gre8l•r than on• year. othor
than Ihoae acquirgd for SP￿ wrpos￿. are ¢JWised
1.8 Flxed ••¥•1 In¥Mtm•nts
Fixed a5$01 Inveslmenls gre stated at martel value al the I)￿ar￿¢ sh8el dale. Uniealised gains a￿1 Josso•
rwe8•nl the difference be￿*8￿ the markel value 4t tlie beginning and 8n¢J of the financi81 year or, if
purcha88d In the y8ar. the drfl8rene6 between cosl and market value al the end of the yèar. R•alised gains
and 1098es rèpresent the drflerenc8 behwen woc•eds dis￿$41 and mArket value at tho stwl ol thg
year or cost if purchased in the year.
1.9 Fln•n¢lal Instrnm•nts
The charity has elected lo apply Iho prowslons of Secb'(m 11 '888K Fin•no81 InstrLKnents' of FRS 102 to all of
rts financi81 instruments.
Flnandal Instruments are re￿n￿d In the charity's bd4rKe SI￿et *th•n tho dwnty bgcLwno¥ party lo th•
contractual Prow￿on8 of the inslnwnent.
1.10 T•x4tlon
Shètland Church of Scouand is recc*3nised as a charity for the purposes of appIl￿ble laxalion legslalion 8nd
18 Iherèlorè rbot s￿1"8¢1 lo taxatjon on rts chantable xtrvrtTr8$ The charity B not r8gist8f8d lor VAT and
resources Oxpended therefore indude iffecoverable Inwt VAT.
11

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charttabl• •etl¥ltl••
2022
Mlnistrtes & Missth Alktth"on
Pr8sbytery Oues
Ministgr's Expen￿3
Pulyt Supply
Other saL4ry costs
Fabric Repairs &
Council Tax
Other 8uilth.ng Co¥ts
Depreci81
Church Offlce Expen
Organ & mU￿C
Accountsncy Fees
Independent Examinakn Fob
Other charrt8bl• exp9￿0
85,723
2.915
7,965
3.422
9.683
33.198
3.636
87.392
7.656
7.316
1.678
31.461
5.355
88,509
114,
47,
70.
14,
17
13,
31
355.909
JO2,
17
Anatysls by lund
Unrestricled fvnds
Re$tn'cled
304,549
51,360
355.909
For th• y••r •nd•d 31 D•c•rnb•r 2021
Unreslnded hjnds
Re8tn'ded funds
20
97
302,
17
Supwrt o)gt> hove not been SeP8fthty thnbfied 98 th• twstees eonsthr th•fe IJ onty one cth•nta
activty. Therelor•, suppoil ¢o$18 relole to th9t actrvty arKI have not be•n S￿818t￿￿ Idenlffied.
14-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
InvMtm•nts
Unr•strlcted RMtrlet•d Endowm•nt
fundy
fund*
funds
g•n•r•l
Totsl
2022
Total
2021
DIVId￿￿J$ reeefved
Deposrt Interest
2,986
8.635
1.372
103
15
8.850
11.821
15
11,6
1.475
For th• y••r •nd•d 31 D•c•mb•r
2021
1,425
1.475
Oth•r In¢¢)m•
Totsl
2022
Total
2021
fund•
fund•
Other Irthne
244
5,886
6,130
4,165
For th• y••r •nd•d 31 D•c•mb•r 2021
4.165
4,185
R•l#lng lund•
2022
2021
Offtsnng Enveb¥
227
227
13-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEAI8ER 2022
11 N•t g•ln•lllo••rtl on InvMlm•nts
2022
20
{LoJsyGain on Valuab.￿ of inNYstr
132.3891
12 T•nqlbl• fix•d
Co•t
Al 1 January 2022
465.396
23.600
20.981
Al 31 December 2022
465,396
23.600
20,981
D•pr•cl*tlon and IM￿1rm•￿Q
Al 1 January 2022
D6preclatlon chary8d In Ihe year
3.220
3.460
4,783
4,1
Al 31 t)ecomb•r 2022
8.979
15.
C•rrylng amount
At 31 December 2022
465,396
16,920
12.002
Al 31 Dec•mb•r 2021
465.3
20.380
16,198
501.
16-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2022
the ye8r 7 tnBtees Teceived rwmburn8meth ol expens08 irm2￿j totsling £4.78912021' 4,1821.
Mlnister 1
ved ÉNil (2021 . £7201 for travolhry •xl sundry •xporws.
Ministw 2 ￿, reui¥ed £18712021- £2,1141 for tr8v•lllng Sundry èxpenaes.
Mlnislex 3
received £40612Q21 - £4.0721 for travellKwJ and sunthy •xpéns¢s.
In addition
o is a Iwstee rgth¥ed £1.339121Y21 . £￿8) Offts￿ and wndry exp8n8es.
a trust￿ £28412021- £3041 surmlry expanms.
. is a mwnbw ef the Kirk S•ssw, r•c•wed £187 {2021 . £NIII for PAKK1ry •xp•n•es and
. £2471 for wlwl fjuwy mil
1¥ o m¢mfAf ol the Sosslon. ith¥od £4(KI 12021 - £1.097} for supply loes aT)d
wtho 15 8 membef of th• Kirk Se$5KJn, received £89312021 - £7421 lor WPF4y 1•08 tr•vellirYJ
',ii% 111 addth'on to salary as Church Offi￿[ at Sl Cc4umba's Chwch.
l wha is a memb•r of t￿￿ K¥k Sa88Th1. rKth¥ed £NIl12021- £1,41XJi lor h18 8•ry6c•8 08 oro8nl8t.
IJ 8 member of Its Se88wJn. rewved £94412021- £Nill fty supply fee8 and Iravelll
No Iru8t0e or 8 pornon related to a twu8t•e had •ny p•r8Mal inl•rMI in any c￿tr￿1 (* tranJ•thon •ntered
Into by the Chanty thnng the year
10 Employ•••
2022
Nurnb•r
2021
Numb•t
9.683
9.883
9.2
Numl)•r of
gv•rage monthly number empksyee8 dunry th8 year was.
2022
Numb•r
2021
Numb•r
No trustee has been pahj any 1wNn•r*c￿ or received any olh•r Lweffts frryn ￿ employinerrt Vlith Iheir
charity or a rdaled ents"ty.
NO •M￿0Y¥•S loc*¥￿ am￿0Yea (exaudlng emyoyer pen5hwi eosts? or rn0￿ t1￿ £eo,orKI.
15-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
17 End¢)Mn•nt fund¥
End0%￿ent lund8 fewe8enl 88881s whlch must be held permanently by the eharity. Income aiislng on th
endowment funds c2n be in accordallee wth the objects of the chaty 8rKI 18 induded a8 unreslrict8d
income. Any ￿prtaI gains or10s58s ansing on thè assets form part of tho fijnd.
Mov•m•nt In fvnds
Balanc• •t 1
Incomlng R•sourrM B•l•nc• at
J•nu•ry rn¥our¢
•xp•ndod D•c•mbor 20
2022
P•rrn•n•nt gndowm•nts
Macinlosh Bequest
MTS Comphll'8 8gqUè81
244
511
755
of Endcr•vmenl Fund8
Income from the Macinlosh Bequèst is lo bo u8ed lo provide Sund8y school leaching Mate￿al8.
Income from Mrs C4mpbell's Bequest Is lo be u8ed lo wovlde the mln181er wrth an annual holida
Thfj 8¢￿Mu)9¢•d Income is held in a re8tTicted fijnd for th18 purpose.
18

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
13 FIX￿ •s••t In¥•stm•nts
Unllstèd
Cost or v•luatlon
Al l January 2022
Additions
valUa￿n changes
91.752
200,000
132.3891
Al 31 December 2022
259,￿3
Carrylng amount
Al 31 D8cemb&r 2022
259,363
Al 31 Drfember 2021
91.752
14 D•btor#
a• r•¥t•t•d
2021
2022
Amounts falllng du• ¥￿h1￿ on• y•ar:
01￿1 debtor$
Prepayments and 8¢xrued In￿me
03,477
29,718
235,018
63,477
264,734
16 Cf•dltorn'. amounts fallln9 due wlthln on• y•aT
2022
2021
Accruals and delerred incom8
69,810
33,758
16 Volunt•ern
In cOn￿On ¥￿th 811 w￿l•ga￿On$ of the Church of Scowand Ihg congregation bgnefils from thè ￿ntribUtIOn
made by volunleers who give their tsme talents wllingly lor the benefit of the Church. The areas ol
congregational lrfe which rely on Ihe contribution of volunteers are many and v8rSed and much ol the 8th.vty
would be unable lo continue were Tt not lor the commilm8nl shown.
17

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
19 Unmtrfcl•d lund•
The inc￿¢ funds of the c*arity indLMJe the followwig dw"gnated fvrKl$ h8ve b8on set aside out
unrgstnthd funds ty t￿ truJte88 lof FWK)80S.
lknvem•nt In lund¥
D￿1g￿•t•d Gulkl Funds
Burra
Sanolwck
Scalltr4Ay
Unsl
al8ay
Yell
Other D•8lgn•t•d Fund•
Lefwick Legacy
Churth Fabnc Ilnv Trust)
M8nse Fabric Ilnv Trusti
BH MaeDonakJ Bequesi
G•n•ral Fund•
Aith
Brae
Burra
Dunr¢)w
Ler￿¢
Ollat
san￿'c￿
Scalltr•vay
Unsl
Walls
al
Ydi
Shetland Church ol Scolland
Flxèd a•uts fund•d Internalty
20
112SI
11611
1440}
12.318
19641
13S31
440
2.318
353
20,000
610
20.
100
1.927
4.W7
11.715
2.116
8.342
16.133
36.222
46.195
225
13401
521
12,438)
16.
33
27
2,122
182)
13,380)
37
837
37
{1.0711
37.781
281.875 242,255 {291.114) 132.3891
490.973
15.455}
37,
200,
485.
61
12841
973,984
246.053 1309.8981 132,3891
877.
50
Purp0808 01 0￿gnated Funds
. Fabnc Funds. The Trust￿ have set asth fvr#Js mantenance ol thJch wopety.
Guikl Funds" Funds rawd by the Guild5 to cover their wr81 runniThJ ￿$1$.
. Ler￿￿k Legacy FurKI". The Tntstees ￿shed the Inccrfne Irom leggws lo bo shcmffl separalety bLrt fu
Can be tr8nsfeffed lo covar defic4f in LeThMdK gewal lur•J.
Church Fabn'c INorthma¥ine Investofs Trust Deposrt Fund) Funds hekl in ts Churth of s￿lIafid
Investor's Trust DeFOSrt Fund. Interest is into the general lund.
Manse Fabn"c (Northmavine Investorfs Trust Oep)srt Fund)" Funds h￿d n the Church of Scouand
Inveslorfs Tnjsl Dew)sit F￿￿. Interest is paKI into the genw* bJnd.
BH MacDon8ld Bequesl (Yell Investors Trust Dep)gt Fund) Funds in the Church of Scotland
Invest&s Tru8t Oewsrt FuThJ. Interest ffj pid into the gtr*r81 fund.

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
18 Restrlct•d lunds
The incr)me frjnds of the charty I￿aude reslr¢cted c￿￿￿.￿l¥a f￿k￿lr0 ￿￿xpefided balarK*S ol
donations and grants held on trust for specTfic purFK)ses"
IAovèmtrnt In lund•
B•l•n¢• •11
Ineomlng R•sourcM Balanc• al 31
January r••oU￿￿ •xp•nd•d D•c•M￿l
2022
2022
AF ch￿Me(S Fund
Children's Fund
Dunro$v￿sS Boy8 Bn98d•
Shetland Foodtlank Fund
Andrina Huntef Legacy
Lunna Fabric Fund
Moar Ttust Fund
Walls- Coffee Tea and Company
COMM￿lty coun￿1 grant
Capital tr))nd AV equipynenl - General Trustees ol
Church ol s￿l￿nd
277
1,908
6.477
72.643
9.442
5.877
277
1.gje
6.492
.918
15
58.107
133,8321
19,4421
891
6,568
708
(5,0001
886)
11.000
2,200}
108,332
64,699
151.3801
121,871
Purpws ol Restricted Funds
AF Chalmers Reliel Fund.. This lund 1$ maint•'n•d to a￿191 fam￿19$ in cages ol hardship.
Childi•n's Fund.. This fund Is maintsinèd to assist families In cases of hard8hip
. Ounrossn•8s Boys Brig&Je.' This acLouni represents the balance ol lunds transfefred from the Boy
Bnga(le Company to be held In trust pending ftrture reincarnat￿.
Shetland Foodbank Fund". The Trustees are actir¥J as an umbrella charlty for the Shetland Foodbank.
Andnna Hunter Legacy Fund. In J￿￿ary 2019. the Sewon lomally acceptèd 8 very generous
legacy Irom the estate of the late Miss Andnna Hunter In lavour of Lewck and Br938ay Partsh
Churth. MiJ8 Hunlerfs wll mède rt dear thal the bequest, which amounteil lo £50.000 was lo ￿ used
solely fof the upkeep 8nd Oev81¢)pment ol the St Columba's building, which she had all•nded
thrc￿h0￿l l*r lrte 11 1$ Iherelorg deamed to be a r8stndfyJ fvrKI aThJ can t￿lY be used for the
purposes wh*ch she spe0f￿￿ xs Icw as St Columba's remain8 a plKe of w￿$hip of th& Church of
Scolland This fvnd has ThY4V bwn spent and cknsed.
Lunna Fabric Fund.. Fund compnses legacy ar￿ donabons given 8pec4fKally for thé up keep of St
Margaret's Church. Lunna.
. Moar Trust Fun(J" 8￿VOl￿nI FuTrJ ￿￿8( of the Kirk s8¥¥K￿ ward w•nl$ to
students In Ihe fomief parish of ￿haISaY
The Capiial lund AV equiprnent is to lurKI AV equlpmenl in thè thurches al ￿th and Walls. Th18
money is from Ihe General Trustees of Ihe Churth of Scouand
. The . Collee Tea ￿ C¢ynpany fvnds are used lo extend semces already ythided N¥thich
bnr@ tc4Jelh8r memberJ of the c(xnmuW lo prevgnt tsolalh)n 8nd loneliness
Community counul grant - 88 part of the Imnlor l•k)ndedand in 8urra the communty led volunleer
group d￿<￿e¥ the gard•n lor t)ecember and has been a red hit. Funding is requirwj for electric81
cabLgs. protecbve F4'F4ng aTrJ mats. **erprcMJf sockets, aThJ rOacem￿rt ouldoor Iyht sets.
19-

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
23 Prlor p•vlod adlu8tm•nl
2021
Unrnstrlct•d
Fundi
To
Fun
Donat+ons andlegac￿5
Prlor period adjustmenl
191,104
235.018
191,9
235,0
Donallon8 and leg8clg9 Iroslalod)
428,120
427.0
Total irKomg and endowments
Prior p•riod 4'u8tmenl
199,058
235.016
226,8
235,0
Total income and endovmients Im8tat•dl
434,074
Net mov•ment In lolal funds
Prior P￿0d adiustmént
141,2391
235,018
170,
235.
21
Net movement in lotsl lund• Imtaled)
193,777
D•btor•
P￿Or p8nod adju8tmenl
29,718
235,016
235,
16
Debtors Ir•slal•dl
264,734
N?1 current 88got8
Prtor period adjustment
254,329
235.018
254,
235.
29
16
Debtors lrnstaledl
489,345
489.
Fund balonceg 8131 December 2021..
Unreslrictad gener81 fijnd - Shell8nd Chur¢h of Scotland
Prlor perbJ adlustmenl
46.859
235,016
Unrèstrkled general fvnd - Shetland Church of Scotland
Irestalodl
281.875
Toi#l Ltnr6stncted Income funds
Prtor Per￿ adiustmgnt
222,020
235.016
Total unreslricted irumo funds Ireslaled
457,036
Total unrestricted fijnds
Prior per￿ adiuslment
738,988
235,016
Total unrtistricted funds Ireststedl
973.984

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
20 Analy•h of net a•••ts Ixtw•on funds
Unrvstri¢t•d
R••trkt•d EndoMn•nt
Total
Fund t6lan¢e¥ a131 Do¢8mbw 2022 ar•
represented by.,
Tangiblo assots
Invtslmentg
Cuffenl 8sseW(Ikgts"lrtlesl
485.518
259,363
132,869
8,800
494.318
259.363
248.495
112.871
755
877,750
121,071
756
1.000.176
21 R•lat•d ￿rtY tran••ctlon•
There were no d8ckJsable rèlated party tran￿ct￿)n$ during Ihg ye8r12021- nc￿@}.
22 Thlrd p•rty coll&ctlon•
2022
2021
Buffa l* D*ve￿pment
Chr18tian Aid
Gordon Dur Fund
Scottish Poppy Ap￿41
Shetland Bus Group
Tingwall S¢hod Fund
780
1,303
550
40
83
425
105
IAdAl* P7f•rdAn FiirKI
('.Hre Home
573
879
Uklairiit￿ AFveal
World day ol Praygr
Shotland C¢Mimunty Ch)ir
Relay fix life
Outre8ch
Foodbank
Scalloway fefijrbishment fuThJ
180
100
1,485
792
097
5.067
5.767
21

SHETLAND CHURCH OF SCOTLAND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SHETLAND CHURCH OF SCOTLAND
I report on the financial Statem￿ of the CP• lor the ye8r ended 31 December 2022, wlich are set (Mrt on
pages 7 10 23
R•8p•th• r••w>n•lbllltl•g of trust••• Ind •x•mlner
The charty's tru¥lee> are reSpon*￿e the preparation ol thg accounts h) accordance wlth the lem)s of the
CcAnpanie8 Ad 20c￿, the Charitie¥ ¥n¢J Trustee Investment (Sco￿and) Acl 2005 (the 2005 Act) Ihe Charille8
A¢¢ounts {Scotl8ndl Regul8tk)n$ 2006 Ithe 20Ce Accounts Regjlationsl. The c*8nty's trusl88s ca)n￿der that ihe
audit requlremenl of Regulation 1011}lal lo IGI of th8 20C6 Accounts R•3ulalions d(*s not appqy. It 1$ my
rewgb'lity to 0xami￿ the act￿nts as rwulrgj und8r 68Ction 44111{c} of tho 2005 Act aThl to stale wt
parlcular mattpAS have come lo my attention.
B••h ol Ind•ynd•nt •x•mln•V• gt•t•m•nl
ex8mination Is carrtad ¢Jrt In acccKdance wtth Regulation 11 of the 2006 ALxounls Regulations. An
examin8b.on lTrSude8 a rgwew of tho accountlng rec4xd8 kept by the thadty and 8 comparlson of the ￿unIS
prtts8nled thoso rKords. It also indudes consK1wation of any unuBu81 Mem8 or disclosures in the acC￿nIs,
geeks ewanations trom thg tru$t•és ecfieemlNJ any 8uch matters. The wc￿@dure8 undertaken do not
FYovide all tho 8¥HJen￿ th8t ¥*wld ￿ roquired in an audtt aThJ con$•quenlly I do nol 8xwes8 an Audt opnion c
th• givén by the aeeounts.
Ind•pend•nt •xamln•rfs stst•m•nt
In ¢onnects'on wilh my examination, no rnatter has come to my attents'C￿ whth give8 m8 ma8onobl8 csuse lo
b6llovè that in any mgterial the r6qukemént8.'
{•)
(l) lo koop accounting records In 9￿rd8n(* 8ec*on 44111 {al of the 2005 AL* and Rogulation 4
th& 20C6 ACc￿nts RegulabcwbS,
I￿) to pr•ptyr• •wwnls thch accord WTth tho •ccounting r•cord• and cemply *ryth A•0￿•140￿ 8 01 lh•
2(Th Acc￿nts Regulatlons have not been met, or
Ib) to whlch, in my O￿nion. attentkjn thould be drawn in order to enable a Proper understanding ol t
fina￿81 stalemerrts lo be reached.
A.i.Q. L: '
St Olafs Hall
Church Road
Lerwck
Sheuand I￿86
ZE1 OFD
-24.

SHETLAND CHURCH OF SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
23 Prlor p•rlod adlustm•nt
{Contlnu•dl
Total knd$
Prlor p•rlod adjustment
848,055
235,016
Total fiffjd$ Ire*atedl
1,083,071
23-