Stobswell Parish Church of Scotland: Dundee Report and Accounts for the year ended 31 December 2021 Congregation No: 291774 Scottish Charity No: SC000384
Contents Page Contents Trust¢¢s' R¢p)rt Report of the Independent Exatniner Statement of Financial A¢tiviti¢s Balance Sheet io Accounting Polici¢s Notes to the Accounts ' 13-21 ApFendix I 22
Stobswell Parish Church of Scotland: Dundee Trustees, Report Year ended 31 December 2021 The trustees pr&8ent their annual repN)rt aTrl fiDancial statements of the charity for the year ended 31 Decemt*r 2021. The financial statements have been Eyepated in OrdanCe with the accounting wlicie5 S¢t out on pages I l and 12 and comply with the Geal A&sembly Regulations for Congregational Finance, th¢ Charities and Tn Investment (Scotland) Act 2(M)5. the Clwities Accounts (Scotland) Regulatio$ 2006 (as amended) and Accounting and ReFK)rting by Chariti. Statement of Recomm¢nded Practice applicable to chaTilies preparing th¢ir accounts ID accordance with the Financial Rep)rtiDg Stsndard applicable in the UK and Republic of Ireland publish on 16 July 2014. Objectives and Aetivitie8 The Church of ScotlAnd is Trinitsri8n in doctrine. Refornled in tradition and Presbyterian in polity. It exists to glorify G(Kl and to work for th¢ advancement of ChTiSt's Kingdom throughout th¢ world. As a national Church. it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a l¢rritorial ministy. It CTrOates with other Churches in vario$ ecumen11 bodi¢s in Scotland and beyond. Stobswell Parish Church is a friendly, welcoming churcb famity, worshipping and SUPE our community. Under norn1 Circumstanc four Communion services would k held annually along with a memoriaI service during AdvrnL In 2021 the Covid pndcnuc cOntind to have on effect LM)th I(lY and nationally. Opfflung the church building was conditional on risk assesment and the strict application of regulations relating to sanitising. wearing of m&%ks. social distsncing and limiting the numttr of people attending. The church halls r¢mained out of use. In February, th¢ Kirk Session voted Unan181Y that Stobswcll Church depart from the Church's practice in r¢lation to human sexuality in rcsped of the vacancy at Trinity in defetred linkage with Stobswell. In Marcty 'ntiMated thaL after 14 years &s our minister, he w&8 leaving Stobswell to b¢come Associate m]StLr al %1 C()IuTnba's Church of Scotland in Pont Street London. Durin the short peri(Ml of OUT vacanCY,lbecarne Interim Moderator until, in July inducted at Trinity ChurLh and inlrodu¢¢d to Sb5Well Church as minister of the Link"cd Lharg¢. tn May 2021 retired as Presbytoy Elder after 13 years of diligent serviL%. was nominat p$bY Elder. . In line with Presbytery's previously ¢xpr¢sscd prefere% for a union rather than a linkage, joint Kirk Session mtttings took plac¢ with the Faith Nurture Forum anl after lengthy discussio a basis of union was drawn up. Inevitably, th¢ decision to move to Trinity Church and for Stobswcll to cease to Et a worship church has been difficult and distressing for many in the congregation. The Basis of Union was presented to Prcsbytery and the original intention was thaL subject to approval by 121, union would tske place at the end of December 2021. Unfortunately. pennission for union has E¢en withheld by the Presbyt¢ry Mission Planning Implementation Group until Dundee Presbytery has presented the narrative for their Mission Plan. Dundee Presbytery has placed churches into 9 gmupings to work togcther to plan allocation of ministers and explore how the church will address its overall Mission Plan. Wc are part of the City Centre Grouping, tog¢th¢r with Trinity. St Andtews linked with Mea(k)wside St Paul's. The Steqile, St David's High, St Mary's and Coldsid¢ churches. Meetings of church represeniatives have been taking pl&e to create a plan for mission over the coming 5 years with thc draft plan for year I, exttcted by the end of March 2022. now defeTred. Meanwhile, Servi have E£en held alternately in Trinity and Stobswell but, it w&s decided that Stobswell would close the end of Febnwy 222 wben iK)th n10Th8 would worsbip togcthcr in Trinity ChurclL
Stobswell Parish Church of Scotland: Dundee Trustees, Report (Cont) Year ended 31 December 2021 Stobswell halls would remain open for users. In preparation for the proposed Unlo four mcmbcrs from each Kirk Session have hwl meetings with the ministr to dis£uss futh amngcments and a representative from CARTA h&$ bcen approached to viSe on relocating artefacts from Stobswell to Trinity. We have been . approach¢d by The Grace Church and by Stobswell Fonlln together with Maryfield Regeneralion Tea regarding leasing the Stobswcll building and are ongoin8. Aehievements and Perfornjance Although the church is still under some restrictions we hav¢ been able to conlinue with our charity cfforts. Rcmarkably, we exceeded our target of £1, 100 to sent to Sialkot through the Smartie Challcnge. Onc¢ more, over 250 Ix)xes were delivered to Blythswood for distribution in Eastern Europe and we were able to m8k¢ a substantial donation to Christian Aid. L¢)cally, donations were made for thc Discovery Fcd Bank an4 tog¢th¢r with Trinity, donations of toys w¢r¢ giv¢n to Boomerang. In Novem1r we held a Remembrane2 Service and in DecernEKr the annual M¢morial Service took pla. Our minister has been in contsct with Morgan ALYdemy, & Roya] Engineers Association. St John's Ambulanc¢ and 205 Field Squadro We had a fih¢r Zoorn mceting with our Wald¢nsiao fri¢nds in Gori7iL Sly, their Pastor. is leaving this summer to live in CKrnwiy, they will ir without a pastor pK)ssibly for two years uring which time their worship will lcd by lay preaclm. They send their g[tttln and prayer8 and w¢ look forward to introducing them to our friends in Trinity Church. There will bc many difficulties to overcome and compromises made before our two conrgatIOnS come togeiher under the name of Stobswell Trinity Church with wien and Under&ill8, goodwill and faith in (iod, we will continu¢ to support ow community and our church. Financial Review As a general rule the congregation's principal ongoing sources of funding are its mcmbcrs. offering& enhanced by Gift Aid where appropriate, together with income derived from the letting of its halls for wider community purtK)s¢s. As in 2020, 2021 has proved an exception to that 'general rul¢, due to the continuing impact of Covid-19 on ar of the charity's activiti¢s, leading to the enforced closure of the Church buildin8 for public worship and the unavailability of thc hall spaccs for both congregational and comtnunity activity, There w&8 a matked reduction in offerings for genernl purposes, together with ass(Kial¢d Gift Aid, from £53,345 in 2020 to £45,001. Irne frorn thc letting of our properties for wider community purposes, however, fell from £4,456 in 2020 to £1.480. The trustees rmin commitied in their efforts to raise awareness of th¢ facilities available and to encournging previous I11-ll$$ back now that the Covid precautions have Eten relaxed. General Fund cndituTe for 2021 amounted kn £60,365 comFwed with £74.390 in the previous yaqr. Th¢ principal contributing factor w&$ a rcduction of some £IO,(KKI in our Ministri¢s and Mission LntributiOn due to support offered from central chUh funds for which the trsteeS were tsuly wfiJL
Stobswell Parish Church of Scotland: Dundee Trustees, Report (cont) Year ended 31 December 2021 Financial Review (cont) Overall. our Congregational (General) Fun(L dealing onIy with r¢cuffing incom¢ and expenditure, sustained a deficit of £13,156 (2020: £15233) which ]]as been covered by a transfer from the General Reserve Fund. The trustxs are acutely aware that ongoing annual deficits of this magnitude cannot be sustain¢d, bul remain buoyed by the fact thaL had the ability to let hall space continued thToughout th¢ year at a l¢vel similar to years prior to the onset of Covid, this deficit would, in all PTobability, hav¢ been sigDificantly lower. We are f0rttllte to have had reserves available to absorb this deficit. Conscious that recurring annual deficits have put pressu on the cash and bank balances available for general congregational purposes. the trleeS were able to recover £3,493 of fabric-related expenditur¢ fTOm funds held on behalf of th¢ congregation by the Church of Scotland General Trustees. Fund raising activities continued to provid¢ tbird paty cbaritable donations, as detailed in note 16 on page 21. Given the CircumC¢S pr¢vailing throughout the year, the totsl of £2.472 (2020: £2.499) is a very creditable result. Investment Policy and Performance The charity's investment portfolio is managed using expertise available within the body of trustees, to provide a mix of income and capital growllL The specific investments used are listed at not¢ 10 on page 16. While the trustees are grateful to all fornier members who have seen fit to pernian¢ntly endow the clwity over many years, the ongoing challenge of achieving a reab]e income while maintsining the capital value of these endowments proves difficult. The market value of all OUT investments at the year-end w&9 £266,874 (2020. £243.032) and the incom¢ arising during the year w&8 £5,120 (2020: £6,237). The unrealis¢d net gain on the value of the portfolio over the year amounted to £23,842 {2020: £16.591) but markets continue to be volatile and th¢ tThste¢s are v¢ry conscious that th¢ value of iniTestments can fall as well &s rise. As referred to in the foregoing financial review, the income flow from the letting of the charity's buildings all but ceased in 2020 and 2021 due to the closure required to comply with legislatioll to combat the spread of Covid-19. An income of £1,480 from this source compared with the previous y¢ar's income of £4,456. Risk Management The tnte¢S assess, regularly, the major risks to which the charity is exposed, in particular those related to its operations, finances (including its investments) and reputation and manage those follows: The age profile of our congregation presents an increased risk from decreasing income through offerings and members are encouraged to consideT also the wssibility of giving in other ways. Capital risk: mitigated by the tTUStees' use of a diversified portfolio of investments. Liquidity risk: mitigated by the trustees. consideration of the timeframe for investing and approprAate asset classes. Market ri5k.' mitigated by the trustees, use of investment vehicles whlch are closely regulated andlor where compensation schemes aTe in place. Valuation risk: market price fluctuations may sometimes involv¢ the need to hold investments pending recovery. The trust¢es consid¢r valuation risk alongside liquidity needs and diversification of the investment portfolio.
Stobswell Parish Church of Scotland: Dundee Trustees, Report (cont) Year ended 31 December 2021 Risk Mydnagement (cont) Cover is sought for insurable risks as appropriate. The trustees take seriously the duties and r¢sponsibilities placed upon them with regard to the protection of vulnerable groups. Each of the above matters is considered r¢gularly by the Kirk Session andlor Congregational Board. Reserves Poliey The InteeS review this p)licy annually with the aim of being in the position to hold 'free' reserves equivalent to 12 months of General Fund expenditure. To achieve this axm at Dember 2021 required a balance of 'free' reserves of at least £60,000 whereas, due to se of the congregation's manse. the balance at that date was £262,305 (2020.. £21,449). At the year end, the congregation's unrestrictrd fimds r¢fl¢cted an ov¢rall balance of £428,457 (2020.. £172,939) comprising £163,682 (2020: £149,020) designated for particular purposes and £2,470 (2020.. £2,470) attributable to congregational organisations. in addition to the balance of 'free' reserves referred to aEM)ve. The inCred balance on unrestricted fim(L8 w&$ due almost entirely to significant unrealised gains attributabl¢ to investments linka4 io the Fabric Fund and WH Fleming Bequest in addition to the manse sales proceeds. Additionally> at 31 December 2021 funds with balances totslling £29.063 {2020: £28,813) were held for the restricted purposes detsiled on page 20, to k expnded &8 appropriate opportunities arise, with pemwient ¢ndowincnt funds of £124,970 (2020: £112,837) held provid¢ an inrA)me in support of various funds. Structure, Governance and Management The congregation is a registered charity. number SC000384 and is admIred in accordance with the tern of th¢ Model Deed of Constitution and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland. Members of the Kirk S&8sion and the Congregational Board are the charity trustees. The Kirk Session members are the elders of the church and are chosen from those members of the church who ar¢ considered to have the appropriate 8ifts and skills. The minister, WIK) is a rneM of the Kirk sessio is elected by the congregation and inducted by PsbYry. The Congr¢gational Board is apwinted from within the congregation and members of the congregation are invited to nominate individuals who are believed to have the skills and commitment to contribute to the management affairs of the Chu to become members of th¢ Board. Board Members are then appointcd at th¢ Stated Annual M¢¢ting and s¢rv¢ for a riod of the years after which they must seek re*lection at the next Stated Annual Meeting. The Congregation81 Board is chaired by the minister and meets eight times in a year. Certain r¢snsibl11tieS are delegat¢d to sub-conimittees as appropriate. The Kirk Session which meets six times a year is resFrf)nsible for Spiritt affairs within the church. On Sund8y 18" April 2021, following Sunday wotship, our Minister, intimated that he would be leaving Stobswell PaTish Church on 30 June to take up epusto stsuLiate Minister at St Columba's Church of Scotland. Pont Streel London. Men]bers of the congregation offered their congrattdations on this appointment and eXprsed their good wishes for the future.
Stobswell Parish Church of Scotland: Dundee Trustees, Report (cont) Year ended 31 December 2021 Reference and Administrative Inforniation Charlty name: Stobswcll Parish Church of Scotland: Dund Charlty reglstration number: SCOC(1384 CoDgregationAI referen¢¢ number: 291774 Prlnclpal offlce: 172 Albert Strect Dundee, DD4 6QW Trujtets: Airk ,fv.f.flOII [(*) Retired 31 October 2021] Prlnclpal Offlce-bearerj Minister: Intcrim Moderator: 8cssion Clerk: Clerk to the Board: Church Treasur¢r: IndepeDdeDt Ewnlner Prln¢ipal Banker8 Bank of Scodand PO Box 1000 BX2 ILB
Stobswell Parish Church of Scotland: Dundee Trustees, Report (cont) Year ended 31 December 2021 Trustees, Responsibilities in RelatioD to the Financial Statements The charity tsijstees are responsible for prepry a In, annual reFM)rt and financial statements in accoTdance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to cbarities in Scot]and requires the charity trustees to prepare financial statements for each year which show a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, of the charity for that peri(xl. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. obs¢rvc the method and principles in the applicable Charities SORP. make judgements and estimates that are reasonable and prudent. statc whether applicable accounting standards and statements of recommended practice have been followed, subject lo any departures disc105cd and explain¢d in th¢ fuw)cial statements. prepare the financial statements on the going conL%m basis unless it is inappropriate to Presume that the charity will continue in operational existenL%. The tnteeS are responsible for keeping proper accounting records which di105¢ with rcasonablc accuracy at any time the financial EX)Sition of the charity and to enable them to ensure that the financial statements Comply with the Charities and Trustee Invesknent (Scotland) Act 2(M)5 and the Charities Accounts (Scotland) Regulations 2006 (as amend¢d). They are also responsible for safeguarding the assets of the charity and henee for tskin8 reasonable steps for the prevention and dctertion of fraud and other 1C8u1arltie$. The trustees responsible for the nintenance and integrity of the charity and fllwicial infOrntIon on the congregation's website. Legislation in the United Kingdom governing the preparntion gnd dissemination of financial statements May differ from legislation in other jurisdictions. Approved by the Trustees on 5 June 2022 and signed on their behalf by - S$10n Clerk
Independent Examiner's Report to the Trustees of Stobswell Parish Chureh of Scotland: Dundee Year ended 31 December 2021 I report on the accounts of the charity for the year ended 31 December 2021 which are set out on pag¢s 9 10 21. Respe¢tive responsibilities of trllste and examiner Th¢ clwity's trustees are responsible for the preparation of th¢ accounts in accordance with the ternis of the Charities and TTUStee Investment {Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charlty trustees consider that the audit Tequirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my TespoL8ibility to examin¢ the accounts as required under section 44(1) (c) of th¢ Act and to state whether particulaT matteTS have come to my attention. Basis of independent examiner's statement My ¢xall)ination is cattied out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includ&8 consideration of any unusual lten or disclosures in the accounts and seeks explanations from tbe tnteeS concerning any such matters. The procedures undertaken do not provid¢ ail the evidence that would b¢ r¢quired in an audiL and consequently I do not express an audit opinion on th¢ view given by the accounts. Independent exarnincr's statement In the cours¢ of my examination, no matter has come to my attention l. which gives me reasonable cause to b¢li¢v¢ thaL in any material respecL th¢ r¢quir¢ments: to keep accounting records in accordance witb Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and to prepare accounts which accord with the accounting records and Comply with Regulation 8 of tbe 2006 Accounts Regulations (&8 amended) have not been meL or 2. to which, in my opinion, all¢ntion should be drawn in order to enable a proper understanding of the accounts to be reached. 21 November 2022
Stobswell Parish Church of Scotland: Dundee ststement of Flnanclal Aeti ember 2(ni r4ote Unrtstrlcted Funds R¢rtrict¢d Ettdowm¢bt FYnd$ Fuud$ Unrestrlctod Fuhds 2020 Restrleted Fund5 2020 Endowment Fund$ 2020 Tol*l 2(121 Total 2020 Income and ¢ndowments from: Donations und l¢ga¢ie$ Charitable a¢tivitie$ Other trading activities Jnveslln¢nts Other 46241 46241 441 480 5.120 3.658 53.657 672 4.344 3.343 10,113 50 53.707 672 4,344 6,237 10,113 2,678 3,658 216 2226 258 2.636 Total Income 216 308 Expendlture on: Raising ndS Charitsble activities Other 188 59,998 188 59.998 198 74.348 198 75,140 792 TotAI expendlture 792 Net Incom&l¢xp¢ndlture) before gxllls aud loJse3 on Investments Net gain(lo$se&) on investments (6,688) 11,834 216 (125) (4246) 23.842 (2.417) 16.822 (484) 2.636 (346) (265) 16,591 12.133 Net inTom¢l(expendhure) 5,146 91 14J59 19.596 14,405 (369) 2290 16,326 Trnn9fers between Funds 179 (190) 7313 250 12.133 19.596 16,553 (37) 16,326 Other retogDlzed galns1(10sses) Gain on disposal of tlldnse 248,305 248J05 N¢t movement In fuDds 255518 250 12.133 267.9)1 16,553 {190) (37) 16,326 R¢eonelllatk)n of funds: Total fjjnds brought forward 172.939 28.813 112,837 314,589 156.386 29.W3 112.874 298,263 Total fun s earried 124970 172939
Stobswell Parish Church of Scotland: Dundee Balance Sheet as at 31 December 2021 Totsl FllDds 2021 Prlor Year 2020. Flxed Asts: Tangible assets Investments io Totsl A#tl• 243 32 C¥rr¢u¢ AJRts li 1021 314070 4.128 Cash bank and in hand Tothl Currnlt Awts 316,091 72,453 Libllltle• CTeditots fallin8 du¢ within L¥)¢ y¢V Nei Curreot AM•ts Creditors failin8 due mire than one year 12 475 313616 71 57 Net Amets 314 Th¢ tsndi or the ¢h•rSty: Endowment funds Restrided fundj 15 124.970 29,063 428.457 112,837 28.813 In,939 15 Is Totsl drIty 38 Appmved by the TnL8tees on 5 June 2022 and signcd on their behalf by- ession er Clerk to tbe CongreytloD41 Board io
Stobswell Parish Church of ScotlaDd: Dundee Year ended 31 Deeember 2021 Accounting Policies The principal accoting tM)licies. which have been applied consistently in the Current and pr¢ceding years in dealing with items which are considered material to the accounts, are set out below. Basis of preparation The fmanciai statements have been prepared in accordance with Accounling and Reporting by Charities: Stat¢m¢nt of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rewrting Stsndards applicable in the UK and Republic of Ireland (FRSI 02) issu¢d on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities and Trustee Investmcnt (Scot]and) Act 2005 and the Ckwits¢s accounts (Scotland) Regulations 2006 (as amended) Fund ac¢ounting Funds are cl8&8ified as either restricted fimds or unrestricted fimd4 defined &8 follows. Reslricledfynds are funds subject to specific requirements &s to their use which may be declared by th¢ donor or with their authority or created through legal pmcesses. but still within the wider objects of th¢ charity. Endowmeni fvnds are funds which have been given on the condition that the original capitsl sum is not Teduced, but that the income therefrom is used for the putp)se defined in acwrdancc with the objects of the charity. Unrestrlcfedfvndf are cxpendablc at thc discrction of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earniarked at the discretion of the trustees for a particular purpose, they are designated as a separate fimd. This designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fun<L Incoming resources Income is recognised when the charity has entitlement to the fun(ts, any prfoM)ancc conditions attached to the itcm(s) of income bave been meL it is probable that th¢ income will be reL%ived and the amount can I Me&Sur reliably. Resourees eipended Liabilities are recognised as expenditure as soon as there is a legal or consttuctive obligation committing th¢ charity to that expenditure, it is probable that 5ettlcment will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals b&8iS. Donaled services and fydeilities Donated professional services and donated facilities are recognised income when the charity has control over the item, any conditions associated with the donated it¢m have been mel thc receipt of economic benefit from the use by the charity is probable and that ¢conomic benefit can be measured reliably. In acwrdance with the Charities SORP (FRS102) the value of general volunteer time of congregation mernbers is not recognised in the accounts. On receipt. donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the chariry would have been willing to pay to obtsin services or facilities of equivalent economic benefit on the OF n]arkeL' a coffesponding amount is then cogniSed expenditure in the period of receipL li
Stobswell Parisb Church of Scotland: Dundee Year ended 31 December 2021 Aeeounting Policies (cont) Interest receivable IThteSl on funds held on dep)sit is included when receivable and the amount can be measured reliably by the charity; this is nOMLIY up)n notiflcation of the interest paid or payable by the Bank. Fixed Assets All tangible fixed assets costing in exce&8 of £2.000 having a value to the charity greater than one year, other than those acquired for specific purposes. are capitalised. Depreciation is provided on a straigbt-line basis to write off the cost or initial value. Icss residual value. of tangible fixed assets over their estimated useful lives, as follows: Buildings: Equipment: no depreciation (see below) 4 years Title to the Church building and Iwlls at 172 Albert strrt Dunth DD4 6QW, and the Church hall at 16 Park Avenue. Dundee DD4 6PP is held locally. In tern of FRS 102, the tnteeS can choose to reflect these buildings on the balance sheet either at cost or by adopting a policy of revaluation. Title to these properties, however, contains what IS Teferred to as an "Assembly Control Clause" in ternis of which any proceeds of disposal would require to be directed to the Church of Scotland General Trustees and held by th¢m on behalf of the congregation. Such proceeds would be tr8nsferr&a to the clwity only as and when the General Trustees considered appropriate. Accordingly, the trustees have adopted a policy of incorporating the properties in the accounts at a value of £nil. Investments Fixed asset investments are stated at market value at the balance sheet date. UDaliSed gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the diff¢r¢ne¢ b¢twe¢n cost and mark¢t value at the end of the year. Reaiised gains and losses represent the difference between the proLzeds on disposal and the market value at the start of th¢ year or cost if purchased in th¢ year. Taxation Stobswell PaTish Church of Scotland: Dundee is recogniseil as a charity for the purp)s¢s of applicable tati0ft legislation and is therefore not subject to tsxation on its charitable activities. The charity is not registered for VAT and resourc cxpcndcd thefOre includ¢ irrecoverdble input VAT. 12
Stobswell Parish Church of Scotland: Dundee Note5 foming part of the financi21 statements For th¢ year ended 31 Dteember 2021 UDrertrided Funds 2021 RostrRded FndS EndowMeTht Fund5 2021 Endowthtttt Funds 2020 Totsl 2021 Funds Fundi 2020 Total 2020 DoDatlODS and IAgacies OfferiDgs Tax recovered on Gift Aid Other donalions Legacies Contributions from Unifonned Orgs 35.811 35.811 9.090 340 41618 10.607 320 42.618 10,607 370 340 50 1,0 112 112 41 Income from cbaritsble activities Weddings and Funerals Social fi10n5 & coffee momin8S Organisations, activities 295 295 146 455 19 198 455 19 198 441 441 672 672 Ineome from Other tradlllg Aetivlties Rent Receiv 480 480 4344 4,344 Investment IDCOm¢ Dividends received Deposit iDtere5t 2,678 216 5.120_ 3J43 258 2.636 6.237 258 Other Income Receipts from Ger1 Th 3.658 3.658 10.113 10.113 13
Stobswell Parish Church of Scotland: Dundee Not&s forming part of the fmancial Jtatements For the yeAr ended 31 Deeejnber 2021 Unrertricttd Fundi F¥ndA 2021 T•tal Futtds F¥Ddi Fu•di 2020 T•tsl 2020 of Expudltu Inv¢strneni Manarn. Fe Offertng Env¢lo 188 188 198 MiDistries & Miub)n All(ation Presbytery Minister's ExyLs 51P71 Suppty (Xher stsffin8 cosIJ Fabric Repairs & MainttnADC¢ C¢)uncil Tax (Manse) H1 and l.ight Insurance Telephone, Printing. slaon & Postage IndeFKndent FJaminerfs Fee T)igcr¢tionary FuT¥J pfyyments (hwition5' tAivilie• Other Eup3¢$ 32.556 l.355 342 375 SJ78 9.494 754 1.744 4.156 32,556 ,355 342 375 5J78 9.494 754 1.744 4.156 43,4J3 43.433 1,192 5.408 7,137 2.158 5.782 4.075 5.408 7.929 2.158 5.782 4,075 2.710 2.710 2.926 2,926 1.034 I,OJ4 906 Totsl 792 75 Support costs baye b¢en seprtly identified The tDMte¢3 ¢onsideT there is Mly one chAritoble adivity therefort SUklK¥t c(&s Trlllte wholly that xtivity hive noi beth WlY id¢ntified. 14
Stobswell Parish Church of Scotland: Dundee Iyotes forming part of the financial statements for tbe year ended 31 December 2021 2021 2020 Stsff costs gnd ttumber5 Salarie5 and wages Social security costs 5,328 5278 Toi 5,328 5.278 The &verage numberof employee5 during the year, ¢al¢ulated on the basis of a head count, was 2 (2020: 2) &4 follow5.. 2021 2020 Number Number Musi¢ staff Premis¢s maintetWL¢e No employee employee benefits in excess of £60.000 {2020.' none) All Church of Scotland congregations contribu to the National Stipend Fund which bears the costs of all ministers, stipends and employer's contribulions for national insurance. pension and housin8 and loan fund. Mini51ers' stipends are paid in accordance with the national stipend scale, whi¢h is related to yearn of service. For the year under review the minimum 5tiF¢nd £28.700 and the maximum stipend (in the fifth al subsequent £35 269. Trugt¢¢ R¢Thun¢rgtion and RelAted P4rty Tr4nJartion$ Durin8 the year, until his departure. our minister, received reimbursement of telephonethroadband charges of £342, while Council Tax Pdyments. ¢)f £754 were $enled on his behalf. No other trustee received any remuneration or re1mburMeAt Of expenses during the year. No trustee or a person related to a trustee had any personal int¢$¢ in any ¢ontr8¢t or transac¢ion entered into by the charity during the year. Durtti ear a total of £21038 was donated to the con ion b rrus¢e¢s. 9. Tthgible Fixed A$yets Bulldlngs-the policy thdop¢ed in relation to th¢ 4¢¢0untin¥ treaent of the congregation's buildings is set out on page 12. Equlpment - although the conegatiOn owns 5¢veral items of eqllipJnen4 these have beell llY depreciated in pam yeaTS. No historical rOrd of original cost 15 tnaintaiDed.
Stobswell Parish Church of Scotland: Dundee Notes forming part of the financial staternellts for the year ended 31 D¢¢ember 2021 Investments 2021 2020 Market value ai 31 DectrnE¢r2020 243.032 238.605 Sale of investsnents Unreallsed gaill l (loss) on investments DAvidends reinvested Market value at 31 Deeeinber 2021 (12,413) 16.532 308 243.032 23,842 Investments at cost 122.962 Tbe following investments were hekl at 31 Detember 2021: Church of Scotland tnvestors Tnl Growth Fund- units (14,832) Church of Scotland Jnvestors Trust Income Fund- units (1,763) Aberdeen Divers. Inc & Growth Trust- 25p ordinary shares <3.0&)) Alliance Trust plc- 2.5p ordinary sharts (3.587) Abrth UK Smaller Companies Growth Tn plc (formerly StankndLife UKSmuller Compani£s TrM¥tplc)-25p ordinary sljares (2228) Dunedin Income Growd] Inv Trust-25p ordinary shares (2,090) Securities Trust of Scoiland plc- Ip red ordinary shaTes (5.015) Jan8 Henderson Fixed Interest Monthty Income- units (41,087.87) JPM Sterling Corp Bd 'B' tncome- units (873.376) Scottish Mortgage Inv ThLSt pl¢- 5p ordinary shaffs (3.355) Templeton Emuging Markets IT pl¢- 5p ordinary shares13715) fformerly 743 25p ordinary share5) Murrdy International Trust plc- 25p ordinary shares (515) Temple Bar Invest Trust plc- 25p ordinary shares {545) City of London Investment Tnjst plc-25p otdiw slwes (1.684) ii. Debtors 21ni 20211 Gift AidlGASDS 2.021 3,940 188 Prepayments and provisio$ IL Credltors 2021 21120 Fabric repaiT5 Accruals 475 475 896 896
Stobswell Parish Church of Scotland: Dundee Notes forming p'art of the finaneiAI statements for the year ended 31 December 2021 13. Analysiy of Net Assets Among Funds 202 G¢Deral D¢slgngt¢d Rostrletd Endowment Total Investments 3.045 259,735 475 140.903 25249 6.770 22.293 116,156 8.814 266,874 316,091 475 Current A&sets Current Liabilities Net assets at 31 Dee 2021 262 166 IS2 12 General D¢slgnatsd Restrietd Endowmen¢ Tothl ]nvestrn¢nt$ 3,165 128.949 6.895 104.023 243,032 Current A53ets l9.180 896 22.541 21,918 8,814 72,453 896 Curr¢n¢ Liabilities Net 8Ssets at 31 Dec 202 Isi 314589 14. Volullteers In common with all con8regatiODS of the Church of Scotlanl Stob5well Parish Church of Scotland: Dundee benefits from the contributions made by volunteers who give their tune and tal¢nts willin8ly for the b¢n¢fic of the Church. The areas of congregati¢)nal life which rely on th¢ ¢ontribution of volunteers are many and varied and much of the activity would be unable to continue w¢re it not for the mMItMent shown.
Stobswell Parish Church of Scotland: Dundee Notes foming part of the fanCial statements for the year ended 31 Deeember 2021 15. Mov¢wents in Funds - 2021 At l January 2021 Outgolng Re5our¢es At 31 Deeember 2021 Re5oiirces Ga1tt8/(L(ses) Transfers Endowment Funds: Trust Fund 'A' Trust Fund 'B' Trust Fund 'C' 38.333 13.5d) 802 427 997 4,475 (245) (802) (427) 997 26 42,808 13,315 112837 133 124970 Restr5eted Funds: Capitsl Resetve Fund Flower Fllnd Minister's Special Projects Fund Sunday School Suspense Fund fvIini5ter'5 Discretionary Fund Kirf( Session Benevolent Fund. . Charles Youn8 (Clock Bequest) Janetm Young (Guild Bequest) 9,196 5,810 3.648 1,367 5,003 1,341 352 98 56 (57) (32) (35) 9237 5.851 3.673 1.425 5.040 1.389 352 17 57 37 48 216 125 159 Deslgnated Funds: Fabric Fund Willia]n H Fleming Bequest Guild of Fellowship Fund Church Guild Fund Flower Fund Boys Brigade Fund Youth Club Fund Orgthnls41knMS.' Carpet Bowling Club (Ladies) Carpet Bowling Club (Men) 'Wedne5day' Club 68,553 79,451 245 85 .53 363 270 1,273 1272 s.12 6,769 (3) 133 75,151 87,492 247 85 72 365 270 240 (221) (4) 1.019 1.165 286 151490 1.019 1.165 286 166 152 221 133 General IFree) Futhd$: General Fund General Resetve Fwid 50.702 (59,965) 9,263 21.449 248 185 248 185 262 05 262 305 Totsl Funds 314589 272 147 582 490 18
Stobswell Parish Church of Scotland: Dundee Notes forming part of the finaneial ststements for the year ended 31 December 2021 15. Movements in Funds - 2020 AI I JAlluary 2020 Incomlng Resoureey Outgoing Resourt Unreallsed Gain(LO$st%) Transfer At 31 Deeernber 2020 Endowment Funds: Tjust Fund'A' Th1 Fwid'B.' Thisi Fund'c, 39,736 13.336 885 507 (1.404) 224 834 346 (884) (507) 936 38,333 13,560 112874 112.837 Restrlctwj Funds: Capithi Reserve Fund Flower Fund minisr,5 Special Proje Fund Sunday Sch] Suspen9e Fund Minister'5 Discretionary Fund Kirk Session Benevolent Fund Charles Young (Clock Bequest) Janet M Young (Guild B¢que$t) 9.026 5.645 3.544 129 4,962 1,288 1,144 118 116 72 52 29 32 9,196 5.810 3,648 1,367 5,003 1,341 352 096 20 65 41 53 (792) 308 792 115 179 Desl%nAted Fundi: Fabrie Fund William H Fleming Bequest Guild of Fellowship Fund Chur¢h Guild Ind Trlower Fund Boy$ Brigade Fund Youth Club Fund Orgn&110nS.' Carpet Bowling Club (Ladies) Carpet Bowling Club (Men) 'Wednesday' Club 68.549 59.931 238 85 1,396 1,334 {1,514) 18,186 68,553 79.451 245 85 53 363 270 2(Ml (156) 352 270 .019 1.165 286 198 {198) 1,019 1,165 286 151490 156 76 G¢n¢T#I (Free) Funds: Qenerdl Fund General Re5eTV¢ Fund 68.988 <74.390) 145 145 24 Total Funds 298 75 38 314 589 19
Stobswell Parish Church of Scotland: Dundee Notes forming part of the finan¢ial stat¢m¢nts for the year ended 31 Deeember 2021 Pllrpose8 ofFunds: E dowmellt Fullds Trust Fund'A' nds invested in COSIT Growth Fund to provide capital growth and some income to be allocated across various fijnds in temis of the original bequests. nds invested in COSIT Incimne Fund to provide income ts) b¢ allocat¢d e¢ross vario fijnds in tern of the original bequests. nd8 invest dIrtlY In UK stoth, shares and units to provide Ix)th income and owth. Income to be allocated to specific funds Trnst Fund'B' Trnst Fund'c. Capital Reserve Fund a fund to provide support for ony fijture capitsl expenditure. Flower Fund fwid to provide flowers for di8play during services of worthip. Minister's Specific Proje¢ts Fund a fund to help meet the cost of any Church project which the minister may with to undertake. Sunday School Suspense Fund Minister's Di%r¢tionary Fund a thnd to a5Si5t in meeling the cosi$ of rnnnin8 the Sunday School. fun¢1 available al the minis¢¢r's discretion. to ben¢fit such deserving causes as helshe may think fit. a fund available for use at the Kirk Session's discretion io benefit $u¢h de3ervin8 causes as they may think fit. fund to provide support for the m8intenan¢4 repair orreplacement of the clock on the outside of the Church building. Kirk Session Benevolent Fund Charles Young (Clock Beque8t) Janel M Youn8 (Guild B¢qu¢sl) a fund lo support th¢ work of the Church Guild. F&bric Fund funds set aside by the trustees for the main*nan¢e and improvemen¢ of the thurch buildings in the shortlmedium t¢mi. fijnds set aside by th¢ tNytees to support the fin8ncin8 of ne¢e$sary Church expenditure. William H Fleming Bequest Guild of Friendship Fund funds set aside by the tNstees to support the work of the Church Guild of Friendship. Church Guild Fund funds set 8side by the4 trustees to supN)rt the work of the Church Guild. fimds set &sid¢ by the trustees to support the work of the Boys Brigade. Boys Brigade Fund Youth Club Fund fimds set 09id¢ by th¢ tswtees to support the work of the Youth Club. Or8anlMllons.' Cat Bowling Clubs fimd5 raised by ihe Carpet Bowlin8 Clubs to 5UPPOrt thetr activitie5. 'Wednesday' Club fijnds rnised by the 'Wednesday' Club t() support its activiti¢& 20
Stobswell Parish Chureb of Scotland: Dundee Notes forniing part of tbe fwancial statements for the year ended 31 December 2021 16. Collections for Third Parties 2021 2020 Reliring or other Congregational Offerings.. Discovery Foodbank Erskine Homes Barnardos Roxburghe House Poppy Scotland St John of Jerusalem Eye Hospital 310 50 25 292 95 167 56 385 610 Orte More Step." Christian Aid Church of Sc4)tland World Mission- St Columba RTC Pakistan 876 1211 575 1,314 21
Stobswell Parish Church of Scotland: Dundee Appendix I Fund5 held on behalf of tbe Congr¢gatlOD by the Chureb of Seotland General Trusttts 2021 2020 it¥41 Aecount Credit balances h¢ld at 31 December at cost Market value of balances 87,308 Revenue Acc unt Credit balance at 31 tkcemb¢r 22