har￿ rnglstratlon nuthr SC000711 WEST MORAYCHURCH OF SCOTLAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WEST MORAY CHURCH OF SCOTLAND LEGAL AND ADMINISTRATIVE INFORhlATION Klr* Smslon Pl•mb•rn Charfty numbor SC000711 Reg18tsrnd offic• S•nquh8r Ro8d Forres M¢xay IV36 1 DG Audltor MacX•nz* Kur knmtted Chart•r•JAc¢tyJntsnts aThJ SlaluWAud(lors 19 Culduth•l R*)ad In¥eme88 IV2 4hA B4nk•r8 Bank of ScotLgrpJ 73 SlrBet Nairn 124BS WEST MORAY CHURCH OF SCOTLAND CONTENTS OF THE FINANCIAL STATEMEKrs Klrk Session Members, reF Ind•p8nd8nt audilorfs rawt Stat•m•nl of finanual activitiès Balance Sheol Slalemenl of ca8h flowa NoteB to Ihe finan￿e1 slatemenls 10-24 WEST MORAY CHURCH OF SCOTLAND KIRK SESSION MEMBERS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Kirtt Se8&on members pre8*rt thw"r anrwl retK)rt WKJ fina￿￿1 statements for Ihe y8•r *nd￿ 31 D￿mber 2024. The financial BL￿ornents h•ve been prepared in accordance with the 8ccountiTWJ polirjes set out in note I lo the financial statements and compty with the c￿￿rch'S goveming document, the Charrt￿$ and Tft￿tee Inveslment IScoll•ndl Acl 2005, the Charilies A¢￿untS (Scotlandl Regulob"ons 2￿6, FRS 102 Fina￿la1 Repo￿ng Standard appllcabl¢ kn the UK Rewt4lc of Ir•la￿ WKI the Chartties SORP "Accounting and Reporting by Charities". Statement of Recomm￿ded PractKe applicable to chanties preparing the￿ a￿UnIS in acc¢)rdance with Iha FinanL?al R•porting Standard •Wk•l)le in ts UK and of lrn18rKI IFRS 102)". Obl•ctlvw •nd •thnlo¥ The Churth ol Scotland is Tnnf(anan ￿ doctrine. Reformed in tradilian and Presbylerion in polty. It eXi81s to ghority God and to work for t￿ advan￿ment of Christ's Kwigd(Th thr￿jgh￿t the WO￿￿. As a nallonal Chwch. It acknowledges a distirKlive Gall and duty lo bring the Ordin￿ceS of rethg￿n to the people in every parish of S¢olland through • t•rriton'•l ministy. It ¢{￿le& with Ol￿r ClwfclK• in vwious ecumenic* bodi08 in •nd t*yond. publ￿ benefft The Kirk St￿10n mémbèrs have pakl due r•gard lo giidan¢e i•wed by the General Tru8t•o• ol th• Churth of Scotl•nd In ¢Y•udiNJ whot actwiths the Church slM)ukl ¢AKl•rtth. Acllvitffjs The maln activilies undertaken for th• wbtic beneffil indude- Weekly Sunday worship 18 w¢vided m three churthes, St Leon•rd's. Kthnlo￿ and the Mi58lon church in Dallas. The Premis￿ al St Leonards and Kinlo88 are •lso •xteNvety used by various community group•, and hot m8815 are availa￿e a Y￿k in the St Le(￿•T￿8 ¢hufc* h811. None of the￿ •div￿¢S ¢wlk1 wn wthout ¥01￿1¢¢r$. Al all tim•s im Iru$t¢w have regard lo ￿ guvJart• frcAn the 01￿8 of Ih8 Scott15h Charil•s R•gul810r. Achl•v•m•nts •nd p•rtorm•nc• Sl9nifK8nl 8dNitie5 and achievements wainsl obrtN6$ The prindpal ochievement Ihroughout 2024 ￿d$ ueatry an en4ryTonment in which our 6 ￿paral9 G0nkYegJti￿S. St Laurenu. Sl Leonard's, R•fford, Sl Michael Dallas. Kink)8s and Findhom and Alves and burthoad, wtdd adju8110 th91088 of their regul8r pl8¢¢ of worship. The use of differenl lyjildings for congr89Otional m8eting$ has hlped lo avoid a contrist approa¢*. We supwrt the development of & Commwity ChU￿h. *thing away frc¥n tr* tr•L*tional bu￿d￿j. mwnly amon9 younger pecple and Ihew familles. Flnanclal miew Indlvldu•l Congr•gatlon•l Funds Wth the Union on 1st J8nuary 2024 all BIX 5ep•*e congre9￿On8 and their Kith Sesslon8 ceased lo have individual idèntities. They also stopped b*"ng separate registereil charrties, are now 81 log8ther as Wesl Moray Cl￿rGh ol Scotkgnd (Cherity ￿ SC(100711, prev￿￿ Ihe chty n￿tsr tr St Lauren￿ P4ri$fv C￿rch of Scotlandl I their fvnds became the iespon%bil'ty of th• now Kirk Session, vtho have appoinied a Treasurer. ts¥o Deputy Treasur•r5 Jnd a Finance Committee. The separate bank a¢¢ounts wll gradually rnargo iF*o one. 01 the six uxgregations that unrièd on 1s1 January 2024. had operated even a 5m8118urplLts in I provlous year. There are wgnrfunt sum5 held in the chu￿ of ScotlaThJ Investots Trust whith are availabl8 directly as the congregation neeJs them, as ￿11 as holc1￿$ in the Church of SC(th￿d Cortsdid8ted F•bri¢ Fund. wNch we gnly availab￿ for Fabric (buildings Maintenan￿}. WEST MORAY CHURCH OF SCOTLAND KIRK SESSION MEMBERS. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Res8rv85 polify It 15 the pcAicy of Ihe Chur(*b Ihat uwtrirAed ILmds Iwe not bw) dewgnatgd k¥ a 6p•SIc u8• Bh￿k1 b maintained at a level •4uivaI￿I lo bet4fftn trwee and six rI￿)nth'S eypentlitwe. The Kirk Session rnemter5 ￿￿sider tFiat reservo5 al this level wll •n6ure thal, in the event of a significant drop in hJnd1ng, they be gble lo ccrtinue the Churth's current actiwties while considerat￿n 1$ grm lo ways in whth addrtional fLmds m8y be raised Thi5 level ¢rf regwve8 h•8 mr4*aiwJ IhrtvJhout Ihe At the year end, the Church hekl L￿retstr￿￿￿ c48h ILvth of £1,098.784 {2023 - £32.639 St Laurence Panah Church). Thefe is £63,l￿7 {2023 - £nil St L￿￿ence Pari5ti Chwth) ol rests￿ed I￿￿£. 8tfuctur•. 9ov•rn•nu ond m•n•g•m•n¢ The Chjrch is adminisler8d In acoydance wNh terms af the Chwch of Scotland D*J of CorAWtution Il thè tim• In force. In thjne 2021 the Congregati.c￿ apwoved the ach*￿ of Ihe Ur¥tsry Ci>nslrtution. All •ffairn of the ¢cfflgregaliw are ¥ested in lQ'rt Session, of*thith all adive elders we membws. The Klrk S?￿lOn rnemtws vfrK* 8aNed during thg y09r VKI LV 10 th¢ dots of *qnatur• of tho fin￿￿018191￿nontB were.. {R￿191)ed 30 Januwy 20241 IResigned 30 Jan￿ry 2024) IRw3nod 10 April 2024) WEST MORAY CHURCH OF SCOTLAND KIRK SESSION MEM8ERS' REPORT (CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 Reertdlmenl app)inlment olfrvslees Al active mernbers ￿ the Kid( SessKJn a￿ the tharity trLStees. The KI￿ SessKJn members are the elders of the c*uTch and are chosen trrAn Yalling m8mberG of the cAYsregth'rm, Bro considered to have the appropriale gifts 8nd 5kiH$. wth the 8pFwv¥l of th8 Kith s85sW￿. org8n￿￿"r￿8l Stn￿k￿re AJI affairs ol the corvJregats'c￿ are vested in the Kirk Session. ol which al actrve ehjefs are membeTS. Stat•m•nt of Klrk S•Mlor• m•mb•rn' rmp0n￿b1l1tl•¥ Th8 Kirk S888icn member8 ar• TesponsiLl• for Prepari￿ lh8 lfjrk Se5￿0￿ MemLws' Repul Ihe financial statemtsnts In 8(wd8nco ¥￿th 8pplicat4c knv and United Km9dom Accnunts"ng Standards (United Kingéom Gener8lly AC￿pted Accourthw Pradlcel. The law appllcabte to ch•it￿$ in Scolland requiw the Seslon memws lo prepare financL81 ststwnonts $a¢h finan¢lo1 ytrjr which give a tvue and fatr vi8w ol Ihe ststg of affalrs rf thg Chuth •)d Ll the Incomlng r080urceg and 8ppliG*lion of r88ourc8s ol the Chufth f(¥ that year. In prgp8ring thBse financl8151olements. the KJ"rt sess￿ nwtbgr5 required to.. - sdecl suitable accouthng wlicie5 ?nd Ihen apF4y them rymsi5¢enUy' - observe the meihods and p￿napleS in the Charities SORP., - make judgements and e8ty'mates th81 are rea$￿a￿le and Fwudenl., - sta¢e whglh8r applicable ac4￿ntIng 6tandwth h￿• boen folSth¥od. subioct to 8ny mat•ng1 departuw dlscb8ed and explained in the finanoal staterrnnls: and - preparé thè financial slaiernents on the go¢n9 b•¥is il i? in4kyEyiJl• tQ PVPsum• Ihal tho charity will continue irb operati￿. Th• Kirt S•$sion mofflbgrs ar• r￿F￿lit)le for keepiThJ 6uffKa•nl accA)unb"ng ro¢￿d5 that disdos• with r•asonab 8rKuracy 81 gny Iirne the finanGial pO￿ti￿ of Ihe Church gnd enat4e them lo enaure that the financial slatements comply with the Charftles and Tfustee Investmenl ISAxJUarKI kt 21)05. thè Charitses A¢toun15 {ScoUandl R8gulalion8 20C￿ and Ihe provlsions ol the Irusl deed. They are also resF(Jn￿t￿e lor safegu8rding th8 ol Ihg Church 4nd hence for taking r¥asonabl• Steps l¢x the wewiu.on and deteclion ol fraud and olher •Tegul3ribe$. The Kirk Session mÈrnber5' report was apryove¢ by Ihe 8c8rd of KidE Segslorn Members. 4 Nub*iTibbi 2025 WEST MORAY CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT TO THE KIRK SESSION MEMBERS OF WEST MORAY CHURCH OF SCOTLAND Oplnlon We have audrtéd the financial 5&*ments of Moray Church of Scodwd Ilhe 'Church'l for Ihe ye8r ended 31 Decernber 2024 vthich comprise the State￿nI of financial aclimties. the balance Sheet, tP)e statement of cash fk) and rKJle$ lo the financial statements, m￿lLyJIng wwificant 8ccountsrvJ Fdiues. The ffinanc¢al reportiry framewot* that has btsen applied in their prepwation 15 applicab￿ law and United Kingyom h£counting Standards. including Finanaal Reporting Standard 102 The Financ￿1 Repoffting Sl8nd8r(18ppIK8bb in Ihe UK 8nd Republ1¢ ol lrnland Iunileé Kingdom Generalty Accepted Acco￿tsng Praraic*). In our opinion, the firbancial st8lèmerrt8'. giva a tru8 and fair viaw ol the stste of the ch8rity's affairs as at 31 December 2024 8ThJ ol 11$ Ir¢omlng resources and awicalion of reS0￿e$. lor Ihe ye8r then enoed.. h•ve been property pTep8red in ac¢wdance with Uruted Ki￿d￿ Generally Accepted AC￿)Un￿n9 PrpLtIc•', and have been pfèpared in accffll•n¢• wth tho Cwigs and Tr￿18& Invo8tmtnt (Scotlardl Act 2005 and rtgukntion 8 01 th8 ChwrtiVdAccwnts (Scotland) Rogul8llons 2C#X. 8a*lB for oplnlon eonlu¢lél our audit in •¢¢or+Jance with Inlemaiional Slandar(Is cm Authting IUKI IISAS IUKI) and appllcable 18w. Oui responsibilities under those standards are f￿￿Or dex11￿d in th• Audilofs responslbilrties for Ilje 8udrt ol th& lin8ncial s18t$monls 8OCtion of I￿r r•FQrt. We ar8 independent of ihe Church ￿ accord8ru with the elhical 4uiremènts that are ￿leVant lo our audrt of the finwKig1 statemerts in the UK. induding thg FRC'S Ethical Standard, and Ihe provisions availabb for small errtrties, wi the Cir￿M¥13nc￿ Sel out in noto 27 to tho Iln8nckg1 statem6nl8, and we hav• fulfillod ow trlher ethic•l resp￿31￿4.1￿.e￿ in accord•nc• wrth those rnquirèments. We b8118vè th81 tho •u¢*l ¢wd¢n¢e ¥￿ h•ve obtai￿￿ is and apprOpr￿le to Provide a basis for OLK opinlon. Concluslons r•latlng to 9olng ¢on¢•rn In audrtlng the financial statements. have condudod th•t Kmk S88$￿ mèml)•rs' of th• goKIg conc•m b￿13 ol account.ng In the pr¢p8rntion of Iro fin￿￿1 stat•m•nt$ o •ppropn•to. Bas•d on th• w• hav• p•rlc*m•d. w• hav• rA)t id•ntifi•d any mat•rial urK4rtainties relat￿9 lo events or candltions that, individually or colleclivdy, may cast swnifunl d(xknt on the Church's ats'lty lo wilinug a8 8 golng concern for a perio¢J of 81 least ￿tIve months lffjm the ￿#￿181 statements •uthori$•d lor issue. Our re$p)n$*iliti•$ ar￿ th¢ re$ponsibilitie• of h Kirk f)owim with rg8peca lo wing Goncem are de8cribeé In the re￿¥￿t sections ol Ihits report. Other informjtlon The other informabon cofflprises Ihe informatsw incwed in Ihe ￿nUal reFort olher than the ffflardal stal•mènls and our 8uditor'$ report thereon. The ￿'rk Session mem￿r8 are responsible for the other inltsmalion contained the annual réport. 0￿ opIn￿n on the finanrA* stslernen15 does r￿1 cover the other informalDn and we do not express 8ny form of aS￿ranCe conclusim Ihereon. Our respon5iknlily Is lo fftad the other ￿tormati(￿ and, in doing so, consider whelhw the other informatM)n is matenalty ineonsislent wlh thè finan¢i•l statements or our knowledge obtained In the course of the audrt. or (rthephise appears lo be materially misslatod. If we Identlfy such materi81 Inconsistencles or apparent molenal misst8lements. we are rewirecl to Oetemiin8 wheth8r Ihls gtves rise to mat•rial misst•l8ment in the fin¥rKi•l sl•tement8 lh￿n￿1¥•$. If. b8wd on Ihe work we have perfomed, we ¢lude that Ihfrr¢ io 0 m•ten"81 nM$$tstement of Ihis fv infomi8tw)n. are rewwed to report Ihal fact. We have nothing lo r•port in ihis regard. WEST MORAY CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE KIRK SESSION MEMBERS OF WEST MORAY CHURCH OF SCOTLAND Matt•rn on vthlch wo ar• r•qulr•d to report by exc•pUon have nothing lo report in respect of the foll￿￿ mattern Mi reLotion to *thiGh gnd thè Charit*8 ACr￿unts (Scoilandl Regu￿tionS 20C* roquir•8 US to report lo you rf. in ow opwiion". the infomalion given In the fffjanual 18 MK(￿81$1enI in any matèrial r￿ped Wbth the Kyk Session mernt*rs' Teport.. proFer accounting records have Th)t bo￿ k￿. thè financial stslements are not in ggreement *ith the accountir¥J record5; or we have not received all infom•liw 8nd eXpl￿t￿￿ requTr for our RMpon¥lbllltl¢¥ of Klrk Sesslon memb AS explained more fulty in tre stat￿ent of KNk Sessron mwnb•TS' rn8P)nsibilth'e$. the Kirk Session m•mb•rs ar• responsib￿ for the preparation ol the financial stateM￿ts 8ThJ fcrf boing sth"s￿d that tNryy give a true arbd tsir view, and for such inlemal control a5 the ￿(k Sès8iM Mem￿1¥ detemiine is nec6s8ary to enable the preparation ol fiTrand￿ 8talements that are free from fflgterial misstalemenl. whetsr lo fraud or errcv. In pwring t financial statement8, the Kirk Session m8fflbef5 are respmsth for as6è8&'ng the Church's ah'lily to continue as going concom, disdosing, a8 aplicab16. maltofs rd8ted to going conc•m and u$ing the going concwn b8sis 01 accounllng unless the Kirk S•s8ion memb¢rs Irlend to cegse op8raion8. Qr ￿¥0 no r•ali¥tsc attemotive bul to do 80. AudltoV• rn•pon•lbllltlH for th• •udlt ol tht fln•ncl•l st•t•mMts h8ve b8en appointed a8 auditor und•r section 44{1llcl ol charit￿ and Trustse Inv8slm?N Iscouondl Act 2005 and report in accordance with the Act rè1￿1n1 regulatws made ¢y h8vin9 effect ther6￿d•r. Our objectives ale lo obtain reasonab￿ •ssur•n¢8 about the statements 88 a Who￿ are free from materlal mi8s18tenenl, whelhef due lo fraud ¢y trrty. •nd to issue an auditorfs T9p￿t th•1 Includes our opinion. Re8gonable assurance is a high level of gSSUTance 1$ not a gu8r8nlee that an a￿111 ￿NdUCted in •ccord•nce Imth ISAS {UKI wll aN¥ays dele¢t 8 mat•ri#l mlsslatemert V*h8n it e¥i5ts. Vd$Stalements Can &r¢8e from froud or error and we considored malen81 il. ￿dIvidUaly ￿ in the ￿gregate. they could reasonably be eycied lo inlluenL* the economic d￿18￿jn$ of u¥ors tsken on Ihe ba&8 of Itme fYwK4al #•t•m•nts. Tha Oxttnt lo whth OLf prc¢edures are capaNe of det•ctivJ wYeguL•rflles, inchjdlng fraud. IB dotsi￿d tr40w. We 8ssess8d the su8ceplibility of Ihe cornpany's financial st•lem?nl$ to malerial mi5siat8monl and how fraud might occur, indUd￿9 through ¢Jiscussions ￿￿th the thr•clor8. discussions wathin our audit team plgnning m•eting. upjats'ng our r•cord of intemal controls and ensuring these contrgb opor•ted as intended. We evaluatod po$$ibl• incentives and cyportunits•$ for fraudulent MpA)ip￿allOn of the fiw¢i41 statements We id￿1￿￿ laws and regulations that are of wgnifi¢anc¢ in th¢ conlext of the coffyny by (fiscussions wlh directors gnd updaliThJ our Lmderslandlng ol the sector in which tho company offtes. Laws and Tggulations of dir0￿ siwfKance in the cwtext ofthe wipany include The Comp•ni•$ Act 2006, and UK Tax legi￿atr.C¥). Wa considored thé exienl of compliance wrth I￿Se l#ws and regu￿￿on$ as port of our audit procedures on the related financial statement iloms Indvding o review of fiT)anaal sL*ement th'sdosur•s. We revie¥￿1 the LX)rnpany' record5 of breaches of lawd and rylations. mirmjtes of meetsng5 arHI corresponolence wrth rebe¥ant 8￿horitieS lo identify potential material misstalemwts arising. dixussed the company's poliaes pfo¢44uw frK compliance laws and r¢gLlaliMs bylth members of man*Jement responsible for complian￿. WEST MORAY CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT (CONnNUED TO THE KIRK SESSION MEMBERS OF WEST MORAY CHURCH OF SCOTLAND Dunng ￿a￿Tr￿n9 ￿￿ting 4wth th6 audil tèam. the RespyTh￿8 lThJNN1u81 IRI} drthv attenti¢)n to th8 key afeas which rnighl involve rn0n-ccfflpllan￿ Vlith law5 aThl TegulaticTrs or fr￿d. Wt DI managemerl vthtthtrr t￿Y were sware ol any instarKe5 of nor￿cC￿￿plI8nce with18ws re9￿3b[M6 or krKY￿Iedge of any actu81, suspeded allege¢ Iraud. 8ddresse3rM8•d the Church's contr￿1 obllgations expir8 or are diJth•rged or c￿Celle￿. 1.11 EmployM b•n•frts The cost ol any unu8ed hdklay errtrtloment 16 r•cwrM8•d in the in ¥thich th8 amploy8e'8 8eNIL¥s org rtc4ived. T•rmln8llon beneffts are recognised immwtialety M an exwnso when the Church 1$ demonstr•bly ¢omrnltted lo lermlnate the ¢mployment of w enWoye8 or lo provide terninath'on benefits. 12- WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income fvom donatlons and hgacl•8 Unrn•trlctsd RMtrlct•d T(btsl UnrnBtrfct•d Rethctod fund• funds fund8 2024 2023 2023 Total 2024 2024 2023 Donation8 and 9ifts Grants ChU￿h guild 753.809 12,329 52.899 765,938 52.899 64,127 2,208 205 64,127 2,208 205 753,609 65.228 818.837 66,540 e6,540 Donatlon• and glfts Donations and gfts received Contributied frtyn FKeviou8 church•8 97,101 97.101 64.127 64,127 858,508 12.329 668.837 753.609 12,329 765,938 64.127 64.127 Grnnts VAT recovery grgnl Communfty and Renewable Energy S¢*8me Gr8nlScApe Scotlor 2,208 2.208 41,574 11.325 41.574 11.325 52.899 52.899 2,208 2,208 Income from Gharltsbh 4¢tfvitl•• Unmtrl¢t•d Unr•JtrlGt•d fund* fund• 2024 2023 Church actfvitl INeddings and knerals Use of premises Other ch81ilgble inec*no 5.045 17,602 46,403 2,400 518 89,050 2,916 13- WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Incom• from InYe81ments Unrnstrfc¢•d Re•trkt•d fun¢ts funds 2024 2024 Total Unr•stri¢ted Re5tr1ct•d funds fundi 2023 2023 Tot•1 2024 2023 Inter88t receivabje 18,024 1,373 19,397 26 28 Oth•T Incom• Unrutrl¢tsd Unr￿trIcted lunds fund• 2024 2023 Net gain on di8PO801 of tarsibh fix•d aBsets 440.oc The other income relate8 to th• procééds from of lh8 St Leonard's manie vthi¢h w•s by th• G￿er•I Tru$le•i of th• Churth of ScotlwKI for the Churth. 14- WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER 2024 Exp•ndltuv• on chaTIL•bl• actmo Church actlvttles 2024 hur¢h •ctlvltles 2023 rect co•ts Depreciation and impalnn8nt Glvinp lo Gr￿ *loc4tion Minl$lèrf8 expenses Prestyery duas Other staffing costs PrintiNJ and &gv•rtl8kn9 other oxpenses Insurance Heal and liglrt coun￿ thx Fabric myirl arvj maintenance Spadal C￿l￿on$ Holld8y meals and warni place Chlxch gulld expenses other ¢harltable expenditure 18.768 2,807 3.069 2.394 16,773 404 9,068 24,449 45,264 3,096 25.767 3,712 24,161 2,982 4.880 485 287 10,068 6,912 19,34D 27 1.891 550 2212 23 S,445 250,159 75,738 Shar• of Support •nd 9ov•rn•nc• cos1• (••• n¢)t• 7} Gov¢man 10.500 280.659 75,738 An&ly•l• by fund Unrestrict•d fijnds Restrlcted funds 260.659 75.402 336 260.659 75,738 Support tosts •locat•d to actlvttles 2024 2023 Govemance co 10,500 Analy88d b•tw••n: Churth acti¥rt 10,500 15- WEST PaORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs •llocat•d lo acllvStl•s {Contlnu•d 2023 Gov•rnaThc• Costs comprlse: ALxIit fa•6 ACCo￿￿nCY 7,750 2,750 10,500 N•t movement In fund• 2024 2023 The net mob*ment Sn fund8 ￿ 8tAt•d 8ft•r thaffJl@{endlh'ng}.' Fees payable lo the ch8T*y's au(*tor'. . for the audit of the ch¥rills fmano'al 8i•tem¢nts . for olhw financial Bervices DgFY8ciation of ovmed langibb fixed asBets Profil on dl•po••l of t•n• fix•d aswts 7.750 2,750 18,768 1440,WO) 3,712 Klrk S•Mlon M•mb•rn None of the KieK SO￿l0n members lor any p•Tror￿ connèrl•d with t￿mI rKoNed any romuneration or terwfits from the Church during th¢ year. 10 Employ••• Th¢ ov¢rag? mcthly number of ¢mOoye•$ ¢uMq Ihe yew W￿.. 2024 Numb•r Z023 Numb•r lrtlud•d in oth•r 8taffiw is £4.372 Mid PAYEINI. Tnere were no empbyees whose annual remuneratson wag mcKe than £60.00D. 11 G*in* and l¢*sM on lthf•*tm•nts Unvestrlcted Re5tr1cted fvnd¥ funds 2024 2024 Totsl Unre5tr*ted R•strlct•d funds lunds 2023 2023 Tot•1 2024 2023 Gair￿lI1055e5I 8ri9ing on". Revalu*ton of investmen15 32,414 173 32.587 .16- WEST MORAY CHURCH OF SCOTLAND NOTES TO ThE FINANCIAL STATEmE￿s (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Taxatlon The tharity 18 ex¢mpt from tsxation ￿ its adiwt*s l)•tause all ils #pplièd ffi)r cts*able purposes. 13 Tanglbh flx•d •u•ts FT••hold land Plint•nd and VMFxn•nt T*)tsl Co•t At 1 Jgnu•ry 2024 Additions 18.560 63.752 18,560 446,719 382,967 At 31 DeC•m￿r 2024 382,967 82,312 485.279 D•precllltlon and Imp•lmMnt At 1 JaNary 2024 Depreclatlon dwrged in the year 3,712 11,109 3.712 18,768 7,659 At 31 D0￿mber 2024 7.659 14.821 22,480 Carrylng •mounl At 31 Decerrt)er 2024 375,308 67,491 442,799 At 31 Decem￿1 2023 14,848 14.848 14 Flx•d u••t lTrvMtm•nt¥ Unll8t•d Invutments Colt or v•lu•tk>n Al 1 Januwy 2024 Additions ValuathM ch•tyos 556,81 S 32,588 Al 310¢¢ember 2024 589,401 Carylng amount At 31 De¢embef 2024 589,401 At 31 DecembeT 2023 15 Cr•dltor•: amourts falllng du• wlthln on• y•ar 2024 2023 Accru81s and deferred iicom¢ 10,600 17- WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Restrlcted fund¥ Th8 festricted fLmOs of the chartty Iho ￿y￿ded bala￿e$ crf donations and gr￿ts hebj C￿ trust s￿￿'eCt to speufK cc￿d1￿.r￿s ty doncws as to how ttw may be used. Al 1 Incomlng Resourcw Trnn8f•ra G•ln8 and January resou￿1¥ •xp¢nd¢d 2024 At31 Dec•mber 2024 Andèr8()n TruBt Mclntosh and Kinn4ird Tru8t Dallas Reslricted Bank Rafford PA System Rafford Restrid¢d Bank Sl L￿ardS Y(xrth Sl Leongrds Restricied Bar Kinloss and Finthom N8tfjonal Lottery. music furKI Granl8cape Scodand Ltd- Klnkn88 Church and H811 double glazing Community and R•newabl• En•Tgy Sd)•me Communty and Renewoblg Energy Scheme. Injulation and C8lhedral Wndows Finthom Church Refvrbi8Mxnt Fund 294 3.491 10 1,029 4.841 1,OS2 736 10 304 3,654 {101 11,0291 14,8411 11,0521 (7361 1.395 11,3951 11.325 11,325 23.053 {9401 22,113 18.521 13,7041 14,817 854 854 88.001 113.707} 173 53,067 Pr•vlou• y••r: At 1 In¢omlftg R••our¢•s Thn•f•rn Galn• and At31 J•nu•ry r•¥ourc￿ •xp•nd•d lo¥8￿ D•cemb•r 2023 2023 Speaal colleclions CommuNty support fund 27 1271 13091 (3361 18- WEST AIORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 RMtrkt•d funds IConllnu•dl R•8tncted funds irKILKIe- Th1$ represents caprtal held in the Churth of Scdand Investors Tru￿ Inc*)me FuTrJ. The Intwe8t is avallable for l¢)¢al 8pec4al needs in the parish IrfAI¥8s. Thls f8presenls capitsl hèld In the Church of ScotlwKI Investors Trust Inc(xn• FurKJ. The interest is avaAabl for local speclal need$ in the p￿sh ol ￿￿&d. Appeal In 2018 to upgrade the 8ourKI sy8l•m in Raff0￿ Clwrth. Resldual funds u￿￿ for soft fvrrishlngs. R6pre$ents the b48nce of funds ￿¥•d for youth work. Curythty in ab•yance. For the purch•se of music4 inslrumenlB These We￿ three separate propcls sdar panels. insulation and C*hgUr81 ￿ndowS almod al •nergy conseNalion of the Ki￿055 C￿)rCh, hall suite and mwb80 I￿ik11ngs, with the holp of grant gthemes vknere the 9Tants are being release¢J lo the Staterne￿ d finwKiJl •th'vIt￿ at the rate the •88et• are belng depreciated. This contains the rgsidue of moneys gNen for tho rèfurbi8hrMnt of tts FIndI￿rn Church, A18rge legacy was restricted to thi8 fund and the remaining fJal8n¢e ￿ryI rèwir• lo be fepaid lo the execLAors of tth's 0$1￿+ on the community ha8 conyltt•d Ihe PUTthase ol chLKch buildirwJ. At￿MUlated 1nter•T*l is held by Vlts•l Moray Church of srnll￿d in a re8trki•d fvnd. 19- WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 17 Unr••trlct•d funds The unr85trid8d of the charity comw'se tr* unexwrthd b•lanc8s of donations and grnnts whieh •fè not subject lo speufi¢ c￿dit￿)n5 by ￿(￿Or$ arnl grantcffs as to they may ￿ used These indude designated funds vthich have been set 8sKle tyjt of ￿lestriCte¢l fiJnd$ ty the trustees for Sp￿fiC purposes. At I Incomlng R•SO￿V¢•￿ Transfevs G•lns and At31 January vesouTcH expended los•M D•c•mb•r 2024 2024 Aves & Bwead Guikj D811os Sunday Schc<*l Raffor(I Sunday School Sl Leonards Fabr￿ Fund Findhom and Klrdo$8 F•bn¢ Fund nlo88 Hall Management Findh(xn Development Sl Laurence Fabryc Fund Sl Laurence F￿wer, Oryan Gu￿d Funds Sl Laurenee Commun Support Fund Gon•ial fvnds 29 1291 11,6441 18231 14,867) 823 4,667 7.878 13.200 14.034) 17.8781 113.2001 4.034 1268} (1981 1.746 11,748> 7.582 32.639 1.246.682 12.2111 (258250) 15,371) 45.299 32,414 1,098,784 32.639 1.280,683 1260,6591 13.707 32.414 1,098,784 Pr•vlou• y••r: At 1 Ineomlng R••OUr¢￿ TMnsf•v• Gain& an At31 JIn￿ry r••ourc•8 expended 10s5•• D•e•mb•r 2023 2023 Unre¥lricted funds 38,559 69.482 175,4021 32,839 WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Unr••trlcled funds IConllnu•d) Thos• aro th• unrestricted funds wluch we free to be uted fLY whakn PUTPO8t. Guild orw unt61 SprknJ 2023. Fund8 are ts *•Jer Churth d Scotland Guild and bcal felk>wship. Historic fund avalable rf Sund•y Sehod strKMJkl rnstsrL Hi8lorf¢ fvno •v•labkn if Surthy SC1K￿ sPthld r•8tart. Fund designated for repatr and martenanc• of t￿l￿11￿a$. F￿d do￿gnated tor repair and mainlenarKe of trAMldry•. Furvj 8s¥lmllated Into G•nwal Fund prlor lo unlon d inynding cbsure of Findhom Churth. Fund and Ac¢ounl identsfylng Income and ExF*rKIItUf• r¢loled lo thè ec4nmLmity Klnloss Churth and link•d room8. Fund Erealed before Findhom Church was sc**duW for lisposal. Only item n(yw link•d is the Wu•Jl, th8 C4Prtal ol whKh is hekl in the Chur¢h of Scouand In¥98tor6 Tru•t Inc¢me FuThJ. Incom• i• h•ld locally in Restricted Fund. Used for repa¥ and mainiononco of ChLrch arKI manee. U•fj(188 • r¢￿rye lurKI rf regldar su￿1#Y IINW ¢S)nrkns r¥)t received. Money6 received from Lgg8ci08 {memcrflaD (x acb¥th••. Available as 'siart-up'. Laltedy only refiocting Youth Fund8 The organ pipès need regular S6￿1¢•ng arKI LKcasional more oxtensive wNk. The Guikl was an auloncmous group under the 9uidanc* of Ihe Churth ol SeotlaThl Guild 18 rw defunct Currently txoviding o monthty hot meal in a w•rni tsu1￿1￿. No charge but denatrorts excee¢Jing experyjilure, Inilalty a Restricted Fwd bLrt now D88wnated as Pl*8 in St Laurence IrMti"atfve Fwrfl. -21 WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 18 Analy81s of n•t asa•ts b•tw•èn funds Unvestrlcted R•strkt•d funds funds 2024 2024 Total 1024 At 31 Dec•mb•r 2024: Tanolble assets Investme￿8 CLwrgnl asselslllabithtiesl 401.225 589.401 108.IS8 41,574 442,799 589,401 119.651 11,493 1,098,784 53,067 1.151,851 Total lund• 2023 funds 2023 2023 At 31 D•G•mb•r 2023: Tangible 88sets Cwrenl as8el8lllabilti•81 14.848 17.791 14,848 17,791 32,639 32,639 19 Capllal commltsn•nl• Amount¥ contraded for bul not prowded In t￿ fin8rK411 sl•temeth'. At the year end, 11 had been awd to fft doufjè g1o2iNJ in St L8on*d's thurch hall 6L**lecl lo Presbytery agreement. 20 R•lat•d party trnn••ctlon• There were no (*8clOSab￿ relate(I pwty Iransocb'on$ durirvj the y￿rI2023- none}. 21 Conymrnllyo figur•• The comparatives are T￿t comparable as this yea¢s figur8s rolaie io lh8 figures for 6 churcho$ %thi181 last year'8 figures relate ￿l•lY to St LaLrnncè Parish ChLYth of Scotland. 22 Organlsatlonal Structuve Tf*e Wesl Moray ChurL* of Scotland are iwyptyaled m the a¢counts of the Churth of Scotland. WEST MORAY CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS {CONnNUED) FOR THE YEAR ENDED 310ECEMBER 2024 Ll Cash g8nerat•d fnJnV{*hort••d by) op•rallo 2024 2023 SurplLwJldefiull for th¢ ￿#r 1.119,213 16,2581 AdJu¥lm•nts for. In¥￿tment income recognised in statomert of finKK491 aclivilies Galn on di8P)8•1 Of t•n¥tyt fixed assets Fair value gain8 and losses on Investments Depreciation 8rKI impairmgnt of t•n9ibkn fixed assets (19.397) 1440,000) (32.5871 18.768 1261 3,712 Mov•m•nts In capft•l: Increa8elld8crease) in cnditws 10.600 13.272) C••h g•n•rat•d Iromf(•￿0rb•d by} op•rntlorA 6S6,597 16.8421 24 An•￿1* ol ch•ng•• In n•t fund• Church had no mat•rbal d•bt year. 20 Mlntht•fi •tlp•nd All Church of Scotland Congregats￿ conthtarte to Ihe N￿(ThI st1p￿d FurKI *thich beaT8 the costs of all mini8t•rs' sts"p8nds and employers contributions for national InsuW￿l. ponsion ar￿ houslng and loan lund. MinlBl•rs' 8tynds are P8K% in ac￿rdSnce 7hith thè nationol $ty8nd 5rale. whkh is rel•t•d lo yoars of 8orvlce. Fe¢ tho y•ar under rnview the minimum st1p￿d wa6 f28,700 •nd tr* rnaxlmum 5tsp•nd in 5th •nd Iubsoquent years of Servi￿ was £35269. 28 Coll•ctlono lor thtrd p•rths ColloGtions for third parties In￿Uded. 2024 2023 Crossrea¢h Leprosy Mi88ion Eart Haig PoppyApp•al (R•Membrar￿ service In St Lwnwds} 300 200 100 27 Non4udll •ervlc•• pmld•d by •udllor In common with many other bu%ne88es of c￿r size WKI natwe, w• use auditorn to a¥￿$t wlth t ple￿ration of the financial statèmnls. WEST MORAY CHURCH OF SCOTLAND APPENDIX FOR THE YEAR ENDED 31 DECEMBER 2024 FUNDS HELD BY ThE CHURCH OF SCOTLAND GENERAL IRUSTEES FOR THE BENEFIT OF THE CONGREGATION 422322 W••t Ilorny Consolldatod fabrlc Fund 2024 CAHTAL ACCOUNT Crldié balant•s hdd at 31 D•c•th al eost Morkel value ol balan¢0$ al 31 O•¢embor REVENUE ACCOUNT Cr•dil balance at 31 D•c•mbef TEMPORARY ACCOUNT Credit b•lan¢• 0131 [kn￿Mb Indfvkluil Fund Purpo••: 2024 EXPENDABLE Cr•dil balar￿8 h•ld at 31 Dtt•mb•r at CO8t M8rket Value of balance8 8t 31 Decenknr PERMANENT ENDOWMENT Credrt b•lonces held 8131 Oecertr at C05t Market value of balances at 31 DeGembef -24-