The Church of Scotland Paisley: South Church ANNUAL ACCOUNTS YEAR ENDING 31 DECEMBER 2024 Congregation No: 140788 Charity No: SC 000558 Page l of 27
PalsEey.' SoLrth Ichurch of Scolandl Trustee5 Report 31 Decemb8r 2024 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial ststements have been prepared in accordance with the accounting policies set oul in nole 1 to the accounts and comply with the General Assembly Regulations lor Congregational Finance, the Charities and Trustee Investment {Scotland} Act 2005, the Charities Accounls (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. Objectives and Actlvities The Church of Scotland is Trinitarian in doctrine, Reformed in tradttion and Presbyterian in polity. exists to glorify God and to work for the advancement of Christ's Kingdom throughout the world. As a national Church, it acknowledges a distinctive call and duty to bring the ordinances ()f religion to the people in every parish of Scotland through a territorial ministry. It co-operates with other Churches In various ecumenical bodies in Scotland and beyond. Paisley South Church seeks to fulfil at a parish level the stated objectives of its parent body. In pursuit of these, it provides through its lrfe and work a Christian witness to the community in which it Is situated. It offers to all a place of welcome, acceptance and fellowship where Christian faith can be safely explored and openly expressed. To that end, it normally meets for morning worship every Sunday of the year- and for special seNices during the main festivals of the Christian year. The church normally holds a weekly Sunday School for the Christian nurture of the young throughout the year and midweek fellowship meetings from autumn to spring. During the week the halls are fully used, and ijsers include Boys Brigade. Scouts, Guides, Brownies,. Rainbows, Cubs and Beavers, Church Banner Group, Renfrewshire Council and choirs. In a normal year. the church engages in a variety of activities, both as social events and, where appropriate. to raise funds. The church also supports the Church of Scotland's world mission work. Christian Aid. and a range of other charities at home and abroad. Achlevements and Parformance Throughout 2024 Covld was no longer the threat it had once been, and the Church reflected the altered practices within the community and society. Kirk Session retained the new practice regarding the serving of communion, but all other Covid led changes were discarded. Weekly worship on Sundays at 11am was streamed live to the Internet and a number of viewers were watching regularly from their homes locally and also throughout the UK- and even beyond when on holiday. Services remain available online for a period of 12 months. Some older or infirm members value engaging their church service from home and do so online or using the DVD'S which are also available. The weekly email continued to update many members and the Webslte and FabCXjk pages were essential means of communication. Regular activities including the weekly Tuesday lea room and the midweek worship and coffee meeting entitled 'Wednesday Break, ran throughout the years. The 'Just Living It, evenings met again for two further sections of materials- offering a Page 2 of 27
Paisley.. SoLrth Ichurch of Swlandl Trustees Report 31 Oecember 2024 relaxed opportunlty to explore faith and practice. 'Let's Meet. continued to offer a much valued opportunity to meet during the day. open to all. The summer saw the second Sundae Sunday service as the closing service for the Sunday School which merged several elements in one all age service. Services throughout the rest of summer were more traditional than the previous year. In October. at Ihe Harvest Service, the congregation donated specified food ilems to support the work of both the Renfrewshire Homeless Unit and the Renfrewshire Fi)odbank. In November it was very encouraging to have the involvement of all the Youth organisations attending the Remembrance Day Service, with some youngsters and parents attending church in the following weeks. In December the Chrrstmas Appeal focussed on toiletry gtfts for the Renfrewshire Homeless Unit and gtfts for children and teenagers for use by the Chaplaincy leam at Barlinnie Prison. The children presented their Nativity in person, which was appreciated by the congregalion. Members of Kirk Session with a district responsibility continued lo visit their districts and support the Minister in the Church's desire to care for its members. During 2024, two121 new members were admitted by profession offailh. Twenty-one {211 members were removed from the roll- eighteen {181 due to death and three13) by transference certificale. There were two {2) baptisms and one (1) wedding in 2024. There were twenty-four1241 funerals. During 2024 the Kirk Session met in person. The different working groups of Kirk Session also met in person as they engaged their different remits. Pastoral Care continued with their commitment to visit and support members, particularly the elderly. Outreach engaged with the challenges of presenting the work of the Church and the message of the Christian gospel to the community and were also creative and effective in their work. Youth Committee developed ils links with the organisations with the establishment of a WhalsApp messaging group and ongoing discussion. also in person. The Minister continued his strong links with the organisation's leaders, including his weekly commitment to attending and supporting the 8B company as its Chaplain. The Finance and Propety Committee met monthly to ensure governance, support the Treasurer, and attend to the maintenance and care of the buildings, and discuss future developments. The Social and Fundraising group arranged several excellent activities for the congregation including a Clothes Show, a Theatre trip, a plant sale coffee morning, a church picnic and Ice cream Sunday, a Macmillan Cancer coffee morning, a Beetle Drive and a Christmas Fayre as well as tealcoffee after morning services, a weekly tea room and a monthly soup and sandwich lunch. The manse continued to be well cared for with the annual programme of redecoration and prompt attention paid to any of the small maintenance issues commensurate with a building of its generation. The challenges facing Paisley South remain those outlined in previous Annual Reports, i.e., a declining, ageing membership and the ongoing financial burden of meeting rising expenditure from limited income, but the congregation remains commttted to its core objectives. There is realistic optirnism about the future, a relief that we are now moving beyond the restrictions which the pandemic presented and a desire to fccus on engaging with the parish and beyond. The Kirk Session, under the direction of the Minister and the slrong leadership of the Session Clerks. Page 3 of 27
Palsl8y-' South (Church ol Scouandl Tru*ees RetK)rt 31 DeGernber 2024 continues to encourage the congregatlon to see a new chapter in 2025 and beyond. The Finance and Property Committee led the way, investigating how to develop the buildings to progress Ihe work and witness of the Church. and establishing the 2030 group to assist with this challenge. Pa8e 4 of 27
Paldey.. Scrtrth (Church of Scotlandl Trustees Rewrt 31 DEcernber 2024 Financial Review As noted in the accounting policies, these accounts have been prepared on an accruals basis. The principal single source of the congregation's ordinary general income in the year was the members, offerings via the freewill offering scheme and the open plate. On 31 December 2024. the number of members on the Roll was 265. a decrease of 19 in the year. Based upon our regular general fund income, excluding legacy, income from the General Trustees and reslricled income and upon the average number of members on the roll for the year, 274, the average giving per member was £4.81 per week {2023'. £4.61. 2022: £4.54, 2021: £4.29). When the tax recovered from offerings given under the Gift Aid Scheme and under the Gifl Aid Small Donations Scheme is included, the average giving per member was £6.02 per week12023: £5.69, 2022.. £5.53, 2021- £5.24). This will be the final year I will report average income based on the full membership as this measure is not realistic as it is showing an increase in donations, yet our donation figures conlinue to fall year on year. The members, ordinary offerings {including Gift Aid Scheme reclaim) amount to 68% {2023:62%, 2022: 65%) of the total of our ordinary income. A better method of measuring donation income that is more traceable is the donations from members who give directly via the bank and offering envelopes. During the year there were 101 gUlar payments each month yielding £59,215 and Gift Aid amounting to £14,690. The weekly donations via these methods are equivalent to £14.07 per week, this is a drop of £0.05 per week from 2023. This could be due to a few possible reasons, but it is concerning that our Income continues to fall. Income from investments, together with deposit interest, amounted to £8,654 (2023.. £7.229}. Congregational organisations donated £1,050, and hall lets contributed £4,398. Special colledions for other charitable causes amounted to £440 as income to the church and a further £3,314 collected and disbursed directly to third part charities {such income is not part of the annual accounts)- Legacy income this year amounted to £5,000. In July we received an unrestricted legacy of £5,000 from the estate of the late Ms Rae Jenkins. Thanks to Rae's legacy we funded the installation of low energy lights for the car park and the soffits around the church building. The social and fundraising committee raised funds for the redecoration of the halls via donations from several activities during the year. This was added to the donations raised in 2023 for this purpose and a new restricted fund created for this purpose- the fund starts with £8.212. In 2024 the net shortfall in income as compared to expenditure was £18,668 - See page 14. Thè trustees had approved a budget deficit for the year of £29.240 which would have been surpassed by £428 to leave us with a deficit of £29,668. A very generous donation of £10,000 from the son {John Beattie) of a former member, Alastair Beattie, who died during the year meant Ihat the deficit has been decreased by this full amounl. Salaries of employees continue to be a significant expense and have risen by 9.5% in the year to £35,635. Whilst our employees perform some key tasks within our church, we musl consider what level of employment we can continue to afford should donations and income not increase. Energy costs have now increased for the church after we moved away from a ffive-year fixed term contract 8nd we have seen an increase of 80% to £11,319. The church buildings are used six days per week at an average cost of £37 per day. Page 5 of 27
Pai51By. South (Church of So)tLqndl Truste&s Report 31 Dec8mber 2024 Total funds carried forward have decreased to £626,926 from £642,991. This figure includes the purchase price of the manse, £410,000. Removal of the manse value leaves the church with £216,926. In addilion, Invested and held with the central Church in the consolidated fabric fund is an amount of £200,097 (this money came from the sale of the previous St Luke's Church building of Neilston Road) which could be used by Paisley South Church for the purposes of fabric expenditure and other purposes. We would need approval from the General Trustees to use these funds. Therefore, the potential total funds available in cash and investmenls is £417.023 (calculated from consolidated fabric + liquid and invested assets minus the manse). The global markets have continued to FErform positively and as such the end of year value of our investments has risen by £2,603 in the year equivalent to 1.57%. Full details of our investments are available in note 10, page 22. Legacies continue to help with our day-to-day solvency and I would urge all members to remember the church in your Will as such donalions are significant and continue to help us progress our Christian witne5S. During the year we took the position of increasing the amount asked for any hall let to £25 per hour to help offset the additional cost of energy and the Finance and Propety Committee continue to Ik for ways to spend money wisely ensuring that the buildings are wind and watertight and fit for purpose. Due to the increase in hall renting fee we did lose one organisatlon however an additional rental and the increase has raised additional funding. The finance and property committee reported to the trustees costs that a required to be spent to refurbish the church and halls. The costs are signtficant- more than £240,000. This is something that needs to be budgeted for and project managed. To help reduce propety expenditure the finance and propety committee continue to investigate projects that will enhance the buildings and reduce costs in the longer term, such as solar panels, ground source heat pumps, etc. This work is continuing through the newly formed 2030 group. As part of trustee meetings this year, as treasurer, I wanted to express very sirnply how our income and expenditure is broken down before any work is carried out to keep the buildings functioning for us and the groups that use our facilities. The following was what was used: Projectèd Income= £108,000 Projected ExpendFture: £111,100 Gtving to Grow= £64,800 {60% of Income} Presbytery Dues = £ 1,700 Salaries = £34,600 utilities £10,000 As can be seen our expenditure is already higher than our income. The Trustees are working on how to ensure that this position is reversed and as friends and members we will be calling on your help and prayer. AS our current expenditure is higher than our income The focus must be to increase donations and other income whilst at the same time look al reducing expenditure, recognising that funds will need to be used in the short term lo ensure that our buildings require less day-to-day Page 6 of 27
Pai51ey. South (Church of &od8ndl Trustees ReFOrt 31 D8mber 2024 maintenance. It is incumbent on every member to help increase the membership of our church and in doing so increase the donations that will ensure a long-tem future of Paisley South. Summary of finances 2024 Income Expenditure SurpluslDeficit 126,481 145,149 -18,668 FIX A15 Manse Investments 410,000 168,091 Currènt Ass•ts Cash and Bank Accounts (inclusive of liabilities and creditors) 49,035 General Trustee Investmonts 200,097 Glft Aid As part of the finance VIeW I want to record my thanks lo Jean Lindsay who has diligently been the Gift Aid Convener for Paisley South (and Lylesland) for 25 year5. An amazing amount of work for one person to have completed each year and I'm sure over that period she will have processed in excess of £125,000 in successful Gift Aid tax reclaims. From everyone in Paisley South- Thankyou Jean Treasurer Page 7 of 27
PareY.. South (Church of Stoand) Trust885 R8POrt 31 Dec8rnb8r 2024 Investment Poll¢y In accordance wtth the Constitution the Trustees have the t)ower to invest in such stocks and shares and other investments as they consider both ethical and appropriate. The policy is to ensure a good level of income consistent with security of capital and accessibility of funds. Money which is surplus to immediate requirements is invested at the highest appropriate rate with institutions approved by the Trustees. Our inveslmenl funds are held in the Church of Scotland Investors Trust Funds. The market value of all our investments at the end of the year was £168,091. The value of unrestricted investments was £161,002 and the value of restricted investments was £7,089. Risk Management The principal risks to the charity are financial risk and reputational risk. The membership of the congregation is declining year on year as society increasingly becomes secular in its attitudes and habits. The charity's principal source of income is its members. donations. Income is not keeping pace with annual expenditure and were it not for generous legacies, there would have been a need to draw from reseNes lo make go(yJ the shortfall. The world financial climate meant that in 2023 the value of reserves recovered well from the previous year's signrficant drop, though the full recovery is yet to tske pla. We regularly present to our members the challenge of giving. We also carry out various activities lo reach out to those in our parish who a not connected with the church. We pray earnestly for people to be drawn to our church. Many of the activities of the Church involve working with children and vulnerable adults. So as to ensure that such people are properly protected, as a congregation we operate within the procedural framework provided by the Church of Scotland nationally. All individuals working with children and vulnerable adults require lo be adequately trained in the principles of safeguarding and to undergo PVG checks wilh Disclosure Scotland. Members of the Kirk Session also are trained in their safeguarding responsibilities. The Kirk Session appoints a convenor who is responsible for ensuring the proper operation of our safeguarding policy. We believe that in this regard we are compliant with the relevant legislation. Reserves Policy It is the Trustees, policy to hold reserves sufficient to la} provide working capital to meet the regular financial commitments of the congregation without the need for an overdraft facility, (b} provide for the financial requirements of those organisations for whlch it is responsible, (c) provide for the repair and maintenance of the fabric of the church, the halls and the manse, (d) maintsin andlor replace the furnishings and fittings in the church and the halls and non-moveable fittings in the manse and (el provide for the needy. at the sole discretion of the Minister, via the disbursement of sums not exceeding £250 for any one family. The level of unrestricted liquid reserves as of 31 December 2024 was £189,907 (cash £28,905 + investments £161,002). The total assets and investments is £216,926 made up from the unrestricted and designated funds of £189,907 and restricted liquid reserves tolalling £27,020 (cash £19,931 + investments £7,089) which have been provided for the purposes set out in the poslscript to Note 15. In addition, £200,097 (see Appendix) is held by the General Trustees in the name of the congregation. for mainly propetylf8brlc use (other uses can be applied for), in a temporary Page 8 of 27
Pwsley. South (Church of Sand) Truste&5 Report 31 Dmber 2024 account and invested within a mixture of Growth. Income and Deposit Funds. As this money is invested the values can rise and fall based on the unit price of Ihe investments. Structure , Governance and Management Governtng Document The congregation is a registered charity. number SC000558 and is administered in accordance with the terms of the Unitary Constilulion and is subject to the Acts and Regulations of thè General Assembly of the Church of Scotland. Recruitment and Appointment of Trustees The members of the Kirk Session are the charity trustees. The Kirk Session members are elders ol the church and are chosen from those members of the church who are considered to have the appropriale grfts and skills. There are 43 members of the Kirk Session. The minister is a member of the Kirk Session. Organlsatlonal Structur• The Kirk Session, which normally meets five times a year, is responsible for spiritual, property and financial affairs within the Church. Meelings in 2024 were conducted "in person", Zi)om meetings were never used in 2024. Certain responsibilities are delegated to the Worship, Property, Finance, Youth, Personnel, Outreach and Pastoral Groups as appropriate. Page 9 of 27
Paisley.. Soulh Ichurch of kndandl Trust885 Report 31 December 2024 Roferenca and Adminlstratlve Informatlon Trusto9$ A lisl of Ihe Trust8es of the charrty who served at any time during the year up to the date of the signing of the accounts is appended. Prln¢lpal Offica-bearers Minister- Joint Session Clerk: Joint Session Clerk= Church Treasurer: Prlnclpal Office 123 Rowan Street Paisley PA2 6RZ Charity No: SC000558 Indepèndent Examlner Bankers Bank of Scotland The Cross Gilmour Street Paisley PA11DD Pa8e 10 of 27
Pai51ey= sth (Church of SKotlandl Trustees Report 31 December 2024 Truslee$' Re$pon$lbllhles In Relatlon to the Finan¢lal Statements The chartiy trustees are responsible for preparing a trustees, annual report and financial statements in accordan with applicable law and United Kingdom AoUntIng Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the stste of affairs of the charity and of Ihe incoming resources and application of resources. of the charity for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the method and principles in the applicable Charities SORP: make judgements and estimates that are reasonable and prudent- stale whether applicable accounting stsndards and ststements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.. prepare the financial statements on the golng concem basis unles5 it is inappropriate to presume that the charity will continue in operational existence. The trustees are responsible for keeping proper accounting records which disclose wtth reasonable accuracy at any time the financial tX)sition of the charity and to enable them lo ensure that the financial statements comply with the Charities and Trustee Investment (Scotlandl Ad 2005 and Ihe Charities Accounts Iscotlandl Regulations 2006 las amended). They are also responsible for safeguarding the assels of Ihe charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrty of the charity and financial information on the congregation's website. Legislation in the United Kingdom governing the preparation and disseminalion of financial statements may drffer from legislation in other jurisdictions. Approved by th8 Trustees and signed on their behalf, Page 11 of 27
Paisley.. (Church of Scolandl Trust88s Report 31 December 2024 APPENDIX- LIST OF TRUSTEES Changos to trust•es durlng the year Joined, re-joined, retired, resigned, deceased etc. Name Role Elder Elder Elder Elder Reason Died Died Died Inaclive Page 12 of 27
P3isley,' South (Church ol Scotlandl Trustee5 R8POrt 31 December 2024 Independent Examiner's Report to the Trustees of Palsley: South (Church of Scotland) I report on the accounts of the charity for the year ended 31st December 2024 which are set out on pages 14 to 27. Respectlve r8sponsibilitlos of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland} Regulations 2006 {as amended). The charity trustees consider that the audit requirement of Regulation 10{11 (a} to (cl of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c} of the Act and to state whether particular matters have come to my attention. Basis of independant examiner's statement My examination is carried 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 includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independont examiner's statement In the course of my examination, no malter has come to my attenlion which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with Section 44(1) (al 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 the 2006 Accounts Regulations las amended) have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Page 13 of27
Pais18y.' South (Church ofS¢oUand) Trust88s R8POrt 31 December 2024 Statfjmont of FlTron¢k91A¢UvlUo8 Nots Unrestrl¢t•d Fun 2024 Reslrlclwl Funds 2024 Endownrent Funds 2024 Totrl 2023 IrKom8and ondowmant8from'. Donations aNJ legao88 ¢haTrtstle tI¥le$ Oth¥iradiry NItie8 Inveslmerts 91,271 4,695 4,398 &270 14.645 588 1,790 91,859 6.485 4,398 8,654 14.645 117638 4246 3933 7229 4054 2440 Thir(I PsrtyCo1lectns Tolal Incom• 16 440 3202 126.481 139540 Expendra on: R8isiry fvThJs ChantabIeathVe5 149 142.8V2 143.011 149 188 142940 2.138 145 149 143128 Net income lexpen(Nturelbefore gdln8 and10s5e5 on Invostrnonts 3588 Net 9ain$ I IkJ55è$1 on invefftnts 1539 2.603 6519 Net Incrffiel lfyxpeDdrturo1 116,1 Transfers beMEenfurKJs 15 182121 8212 148t nk)¥8mant Infunds 126,4051 2931 ReEonGIllaon of fund Totsl ftnd5browht foNrard 625.312 17,679 642,931 Totsi functs tArri¥J forY13rd 599,907 27.019 624926 642991 Page 14 of 27
P8is18y. South (Church of Scodandl Trustees Report 31 December 2024 Balance Sha•t at 318t Dec8mbgr 2024 Unrestrlcted R•8trlcttrd Endowment Total rotsi Fund$ Funds FUJ 2024 2024 2024 2023 xèdAss¢ts: TangiNgA5sets Invgstm8nt$ 410.1M)O 161.002 41QCM)O 16&trJ1 57&091 410.000 10 7.089 165.488 Total Flxed As6ets 571,002 7,089 575,486 CurrentAs8et8 Debtors 11 1238 1,238 5.101 C88h at arK1 In hthl 29.264 18,179 47,M3 60.713 ENJ¢M7nant 15 ReSt[ted 1.751 1,751 1,889 TotslCurrentA¥sets 30.502 19.930 50.4J2 87,703 Li4bilrti¢$ Credilcfsfalliro éLE W*thin or year 12 1,597 1&97 Net currenia$sots 28,905 19,930 48.835 67.503 Crecfith fawing due after more than 0 ye8r NetAyef$ 599.907 27.019 626,926 642.991 The fvnd8 ofthe crIty.. End0rnent Funds Restricted in¢oT fv8 15 27.019 27,019 17.679 Unrestricted fvnd$ 15 599.9)7 599,907 625.312 Tot•1 Gharriyfvnd¥ 599.907 27.019 626.926 642,991 The Accounts were approved by the Trustees on and signed on their behalf by.. Page 15 of 27
Paisley.. SoLrth Ichurch of Seollandl tes Forming Part ofthe Finan¢ial Statement Year End&1 31 DeCeMr. 2024 Accountlng Poli¢io8 The principal accounting policies. which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below. Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparing their accounts in accordan with the Financial Reporting Stsndafds applicable in the UK and Republic of Ireland (FRS 102} issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}, the Charities and Trustee Investment {Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 las amended). Fund accounting Funds are classified as either restricted funds or unrestricted funds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Endowment funds are funds which have been given on the condition thal the original capital sum is not reduced, but the income therefrom is used for the purpose defined in accordance with the objects of the charity. Unrestricted funds are expendable at the discretlon of the trustees in furtherance of the objects of Ihe charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a pathcular purpose, they are designated as a separate fund. This designation has an administrative purp¢)se only and does not legally restrict the trustees, discretion to apply the fund. Incomlng resources Income is recognised when the charity has entitlement to the funds, any perfomance condttions attached to the item{s) of income have been mec it is probable that the income will be received. and the amount can be measured reliably. Donated sprvices and facilities Donated professional SeiceS and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been mel. the receipt of economic benefit from the use by the charity of the ilem is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102) the general volunteer time of congregation members is not recognised. On receipt, donaled professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount18 then recognised as expenditure in the period of receipt. Page 16 of 27
PoleY.. South Ichurch of Scollandl Note5 Forming Part ofthe Financial Statement Year End 31 D8cemb8r. 2024 Interest receivabl8 Interest on funds held on deposil is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest paid or payable by the Bank. Fixed Assets The charity has the right to occupy and use for its ¢harttsble object's certain tsngible fixed assets, including the Church and halls, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the Slatement of Financial Activities in the perlod in which the liability arises. All tsngible fixed assets costing in eXsS of £20,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capilali5ed. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value, of t8ngible fixed assets over their estimated useful lives: Fixtures. fittings and Offi equipment 10 years Investments Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the drfference between the market value at the beginning and end of the financial year or, rf purchased in the year, the difference behveen cost and market value at the end of the year. Realised gains and losses represent the difference beeen the proceeds on disposal and the market value at the start of the year or cost rf purchased in the year. Taxation Paisley= South Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT. Page 17 of 27
Pa151ey= South (Church ofscotkndl Notes Fom)Ing Part of the FiDanoal Slat6rngnt Year Ended 31 December, 2024 Vnr95trlct•d rotsl Tot41 Funds Fund$ 2024 2024 2023 Donation5and Lew¢l Ofterlngs T8x reVered on grftAKI Legac tJThtion frcrfn CorKJ.Orgs. (see Note 171 Valueofdonated good5 6&019 68.6( 69.712 17,202 11202 16,369 30555 5,000 1,050 750 252 588 117638 IfroM Gharltabl•actlvWo5 WethJlng$ and fun8rals Coffe8 Mornings etc. Orgarisations 1.840 1,320 2.e45 2,645 2,592 2.0 334 1,790 IncrAn•from 0thortradlr¥9 adlvltks 4.398 IrNestmgnt Income receiveé &270 8,654 7229 DeKN)l interèst Otherlncom• Other rlPt5 Isee Note 181 RlptsfrOrn Gerer81 Trusi88S 14,645 14,645 4,054 14,645 Page 18 of 27
Paisley.. South (Church of Scollandl Note5 Forrning Part of the Financial Slalemgnt Year Ended 31 D8cember, 2024 Vnrestrfcted R•5trtctgd Endowment Total Not• Fvnds Funds Fulld8 2024 2024 2024 2024 2023 Analysi8ofExpendliure InvesbnentMan8&8 Fs offrj Emek)pes 149 149 186 149 149 &ving to Gr PresbyteryDue8 Minister Expenses Pulsxt Swply Olh&rsalaryc05ts- Salaries Isee Note7) - Pe10 Conlrlbubons 64,474 64474 63762 1.655 16 2222 3,925 3925 3437 818 818 548 30,722 30722 28913 1,243 1243 1190 - Tax I In$uraT 3.670 3670 2442 Fabric Reprs & MainteTn Counril TEX 8,696 8696 11529 3,716 3716 26 Heating and Ughlng InswatK 11,319 6278 3.426 3426 36(X) Church 0ffiCeexper (see note 6a) Oroa) aThJ Mu*c 4,861 580 6043 580 355 FIr$ 168 Other Expenses Isee nots 6bl rk Session Benevot Fund Paynts (see Note cl 765 3314 4247 300 Third PartyCharitie51see Nole 161 Independent Examinerfs Fee 1.008 1913 3599 200 200 200 142862 2138 145000 142940 143011 2138 145149 143128 Page 19 of 27
P8i$ley'. South (Church of ScolLgndl Notes Forrning Part of the Financial Stat¥ment Year En¢J8d 310ecember, 2024 Note Offlce Exn$¢ Breakdown Website Chur¢h PhonelBroadband Office Petty Cash Photocopier & Stationery PCISoftwarelLicenses Bank chargeFee$ 345 1.224 146 1.265 1,906 -25 4.861 6b (Xher Expenses Fundraising ExpIlon3I Items Outreach TealCoffeelFood Special Flowers Other Restrictad- Outreach Group Restricted- Youth Expenses (J Dewar) 934 76 792 93 594 92 673 Klrk Sesslon Benevolènt Fund Cash balance tifv Expense Cash Float Cash in Hand 290 -290 3(M) This cash is hèld by the rninister and spending is audlt8d by ITrustee} on bèhalf of the trustees Page 20 of 27
Paisley.. South (Church of Scotlandl Notes Fortning Part of the Financial Statement Year Ended 31 December, 2024 2024 20YJ Note Staff costs and numbers Salaries and wages Social security & wn$ion costs 30,722 28.913 4.913 35,635 3,633 32,546 The average number of ernployees during the year was as follows-. 2024 Number 2023 Numb8r Organist & Choirmaster Church Secretary Church Officer No employee had employee benefits in excess of £60.00012021 nil). All Church of Scotland congregations contribute to the National Stipend Fund which bears Ihe costs of all minister5. Stipends and employer's contributions for national insurance, pension and housing and loan fund. Ministers, stipends are paid in accordance wth the national stipend scale, which is related to y8ars of service. Forthe year under review the minimum stip8nd was £1 642 and the maximum stipend in the frfth ané subsequent years was Trustee Remuneration and Rel8ted Party Transactions During thg year nine191 trustees received reimbursement of &xpenses incurred totalling £6,529 12023=£8,114, 2022'.£4,457, 2021.. £10,054). No othertruslee or a person related to a trustee had any personal interest in any contract or transaction enter1 into by the chaiity during the year. Page 21 of 27
Paisley.. South (Church ofscotlandl Notes Forrning Part ofthe Finanaal Stalefftnt Yèar End8d 31 D8cernber. 2024 Note TanlllyleFlxedAsset¥ Offlcg Equlrmfjnt Bulldlngs Man60 Total Cost At 1st Jan224 410,000 410,OiKI At 31£t Dectr2024 410.0Tr) Accumulated DBprecLitlon At 1st Janu8ry2024 Ch8rge for year Ellrninat£d D1$po8 At 315t DeMter2tr24 Net Bookvalue AI 31st Der&nber 2024 410.10 410.000 10 Inv88bMents 20rJ 2022 Marketvalue at 31I tkcentsblfv 158.970 2024 2023 Fljrrthg of IrNesthEnts pro from Sale of Inveswts ised In year9a{lO$s) on se0f inve8trng7ts' 6,518 Mthdvaluè8t31stOecember2024I2023 168091 165488 Unreli$e(Ig¥n 11110n Invem6nts 117451 16,3481 Invesbnants acost 171.836 171.836 ThofolKiwing i•ve4tm?ntsare hold aft•r purchaswlnvgstmwt GaInllL> 2024 2023 C ofs InvTrusi Gr Fund.. Manse Mslnlenance C ors Inv Trust IncLYne Fur%l.. Manse MaInthe C ofs Inv Trust IncL¥ne Fwd.. FabricFund C ofs Inv Trust Incune Fund.. General Reserv8 Fund 14, 11.104 47.105 1.210 Ico 12.826 11,(NM 46,679 BD3 After$e3 2.539 C ofs Inv Trust IrKome Her907TTL¥t 7.025 MarfE8tvalw * 31st Demb¥ 168 091 'thefigure quotsj herelstrEtOla 0110$$) inthB irNesknentWittrnthe year exGlu(SrvJ s*s. Page 22 of 27
Paisley.. South IChur¢h tsf S¢ollandl Notes Formlng Part of the Financial Stalem8nt Year Ended 31 December, 2024 11 Debtors 2024 2023 Gift Refund dL 1,238 1,238 5,102 12 Creditors 2024 2023 Oth8r'. Indep8nd8nt ExamSWs fee Gas (Dec 20241 Electricity (Dec 20241 HMRC Tax 200 2 363 122 Otr.. AgeY 16 1,597 13 An8lysi$ otNotAsset5 Among Funds GIrnI Designated 2024 R88trlctsd Endowment Total 2024 2024 2024 2024 Fixed Assets 410.1XIO 161,(K)1 28,040 410.0 168,091 50,432 1.597 Inve$tments Current Assets 7,089 19,930 2462 Current Liabilities 1,597 Netasse*s at 315t D•¢ 2024 865 599.041 27,020 626,926 G8n8ral Deslgnatsd 2023 Restrlcted 2023 Endowment 2023 Total 2023 2023 Fixed Asset5 410,0 158,463 48,805 410,0 165,488 67,703 200 Investments 7.025 10,654 Current Assets 8,244 200 Current Liabilitifrs N•t assètsat 31st Dec 2023 617,268 17,679 642,991 14 Volunteers In wmmon with all ¢on9regatK)rts of th& Church of Scotland the congr8gation benefits from the ¢ontriEKrtion mwJ8 by vdunteers who give their lime and talents wlllngty forthe benefit ofthe Church. The areas of congr8gation21 lif8 which on the contribution of volunteers are many and varied and much of the &tivtywould be unabte to Continue werg it not for the commitment sholwn. Page 23 of 27
I I I
Pai8Y'. South IChur¢h of Scotlandl Note$ Forming Part of the Finanal Staterr*nt Yoar EIe 31 D8C8mb8r, 2024 Pur ose of Desl nated Funds ntral R The Trustees have set aside funds lal to promoltr tho work of the 'Creche' and'sunday School, so far as is necessary. Ibl provide rinance for the work of thè Session, {0) provide finance foi the pastoral work of the Minister, Idl lo provide msjsic for the choir and lel to provide working capital for the General Fund. Thè Trustees have sel aside fvnds for the Maintenan of the Church property. The Trustees have sel aside funds for the maintenance of the Manse property. The Trustees have set aside funds for the rnainlenance of the organ and forth8 purchase of music to enhance worshi Fabrlc Fund". Manse Fund: slc Fund.. Pur oso of Restricted Funds atlon Funs: The Trustees havg $8t up this fund to aid generation of fvnds to help with thè costs of redecorating the halls. Thtrd Part Coll This is a stslement of the amounts ¢olle¢ted by the congregation in favour of other charitable and worthy causes. h T¢h Flower Fund: This fund is vsad to purchase flowers on a weekly basis for the sanctuary and are then sent on to members and peo in the communty as sde¢ted by the minister. This group operates under the di¥ection of the Kirk Sa5sion forthe purposes of charitae outreach helping to meet our kims a$ a Ghristian Church. reach Grou Fund: Kirk ion Benevolent Fund For charltaa purposes at the discretion of the Minister. Donations from weddings and fvnerals shall be added lo this fijnd. This fund was Set up after a Bequest of rnoney was left to Paislay South Church for the purposes of youth support and en¢our8gemenl within the Church. With the approv81 of OSCR. the Twstee5 have taken over the administration of this ¢haritsble trust which was established to provide grants (>f money or kind to the aged and infirm members of the congregation. arBe uest Youth ru Page 25 of 27
Pai51ey.' South (Church of Scotlandl Notes Forming Part of the Financial StsterrEnt Y8ar Ended 31 tlecember, 2024 16 Collectlons forThlrd Partl•s 2024 2023 Renfrewshire Food Bank Christian Aid Adams House UNICEF Mary's Meals (Outreach Group) MacMill8n Cancer Care 5QX) 944 208 266 340 100 522 440 2,440 Donations disbursed to Thlrd Partles 2024 2023 Mary's Mèals Smile Train-NHS 48 365 Scripture Union Compassion UK RenfrewshFre Food Bank Christian Aid" Poppy S¢otland Adams House UNICEF Ma¢Millan Cancer Care 100 400 568 20 1,015 382 372 205 342 1.103 209 298 522 3.148 3.599 Money ¢ollectetl was banked with CA directly 17 Donatlons from Congregatlonal Organisations 2024 2023 Wednesday break Parents & Toddlers 100 50 950 700 1.050 750 Analysls of UnreBtrlcted Other Raeèlpts 18 2024 2023 Congregational Gatherings Miscellaneous Incoma 4.465 10,180 14.645 3,647 407 Page 26 of 27
Pai51ey.' South Ichurch of Scottandl Not85 Forming Part of the Financial Statement Year Ended 310ecember, 2024 APPENDIX FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES 2024 2023 CAPITAL ACCOUNT Credit balances held at 31 December at cost 178.383 178,383 Market Value of Balances at 31 Deoember 182,066 177.962 REVENUE ACCOUNT Credit Balance at 31 December 18,030 9,423 TEMPORARY ACCO Credit Balance at 31 December (Representing th8 net proceeds of the sale of the SL Luke's Church in October 2021) (Funds are invaslad in the Cos Deposit Fund, Growth Fund and Incomg Fund) The Capital Account fund details are as follows.. Markot Valu¢ 31 Dec .24 28,373 35,186 118,507 kqarket Value 31 Oec .23 28,373 32,152 117,436 Market Value 31D .22 28.373 29,781 113,150 Original Inv8Stmant Cost Gain{Los$l DetX)sit Fund Growth Fund Income Fund 28.373 30,002 120,008 5.184 {1,501) 178,383 3,683 182,066 187,384 173,916 Page 27 of 27