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2024-12-31-accounts

Sidlaw Parish Church of Scotland

Trustees' Annual Report and Financial Statements

FOR THE YEAR ENDED 31 DECEMBER 2024

Congregation No: 281719

Scottish Charity No: SC001085

Sidlaw Parish Church of Scotland Trustees’ Report (continued) Year Ended 31 December 2024

Trustees

Independent Examiner

EQ Accountants Limited 14 City Quay Dundee DD1 3JA

Contact Address

Bankers

Bank of Scotland 65-69 Murraygate Dundee DD1 2EA

Virgin Money 7-8 High Street Dundee DD1 1SS

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Sidlaw Parish Church of Scotland Trustees' Report

Year Ended 31 December 2024

The trustees present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 9 of the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (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 effective from 1 January 2019.

Organisational Structure

Lundie and Muirhead, Auchterhouse and Fowlis and Liff Parish Churches united on 1 February 2024 to become Sidlaw Parish Church of Scotland. When the union occurred trustees from Auchterhouse and Fowlis & Liff Churches, the ceasing charities, became trustees of Sidlaw Parish Church. Trustees of Lundie & Muirhead Church, the continuing charity, who wished to remain trustees became trustees of Sidlaw. Sidlaw operates under the Unitary Constitution with a Kirk Session moderated by the Minister which meets at least six times a year. There are also Fabric/Property, Fundraising and Finance Workgroups.

Objectives and Activities

The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in polity. It 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 of 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.

On the first Sunday of the month services are held at Auchterhouse and St.Marnock’s (Fowlis). One service is held at either Auchterhouse or Muirhead on the last Sunday of the month. Services are held at both Auchterhouse and Muirhead on the other Sundays in the month. One of the services is livestreamed on Zoom each week. There are additional services at Christmas and Easter. Holy Communion is celebrated three times a year as well as on Maundy Thursday, Easter Sunday and Christmas Day.

Outreach opportunities include Soup Lunches and the Friendship Group which typically all meet once a month. Children’s ministry includes Messy Church, Holiday Club and links with local primary schools. The Guild meets at Auchterhouse where there are also craft and Walk and Talk Groups.

Achievements and Performance

Achievements and performance during the year include:

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Sidlaw Parish Church of Scotland Trustees’ Report (continued) Year Ended 31 December 2024

an offering for the Eric Liddell Olympic Year Appeal), Monthly Evening Prayer worship events, Messy Church, a Lent Study and a shared electronic calendar accessed through the Invergowrie Church Web page.

Financial Review

The principal source of church income is offerings as set out in Note 1 to the accounts.

Following the union several members set up standing orders and also joined the gift aid scheme and some members increased their regular giving. A £1,000 legacy was also received during the year.

Fundraising activities during the year raised £920 at the Plant Sale & Coffee Morning and £260 at the Harvest Supper.

The estimated tax to be reclaimed on gift aid donations given during 2024 is £11,306.

The former manse was sold for £421,000 and the new manse was purchased for £451,500. Conveyancing fees totalled £7,021. The £30,500 difference between the manse sale and purchase prices plus the conveyancing fees were paid from the Consolidated Fabric Fund – Capital. The removal costs (£1,398) plus the estate agent’s fees and home report (£1,505) were paid by Sidlaw. The church is exempt from land and buildings transaction tax because it is a charity.

£13,514 was reclaimed from the Consolidated Fabric Fund – Revenue. This money was used for manse and churches’ insurance (£6,124), Muirhead Church and former manse fabric work (£4,027), St.Marnock’s Church fabric work (£610), Auchterhouse Church fabric work (£2,128) and heating oil (£625).

During the year since the union donations from the ceasing congregations (e.g. WFO envelopes and standing orders) and expenditure, (e.g., fabric, insurance and utility bills) have been transferred to Sidlaw.

There are sufficient funds to meet any reasonable expenditure in the medium term.

Reserves Policy

It is the Trustees’ policy to hold reserves of approximately three months’ expenditure in the bank account. At the year end the Church held unrestricted funds totalling £215,518 of which £31,089 was in the bank accounts and the balance deposited with the Church of Scotland Investors Trust (CoSIT).

The church also held £603,693 of unrestricted Fixed Assets as detailed in Notes 9 and 10, as well as £155,998 of restricted funds and £28,805 of endowment funds which have been provided for the purposes specified in Note 16.

Structure, Governance and Management

The congregation is a registered charity, number SC001085 and is administered in accordance with the terms of the Deed of Constitution (Unitary Form) and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland.

Members of the Kirk Session are the charity trustees. The Kirk Session members are the elders of the church and are chosen from those members of the church who are considered to have the appropriate gifts and skills. The minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. The Kirk Session, moderated by the Minister, meets at least six times a year. There are also Fabric/Property, Fundraising and Finance Workgroups.

Union

During the current financial year a restructuring took place via a basis of Union between the following congregations (all unincorporated Scottish charities):

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0￿￿gn Envekffje ID.. 26EB37FT-DACG472E-A20E-16D4813D330B Sidlaw Parish Church of Scotland Trustees, Report (continued} Year Ended 31 December 2024 Narnes of Cornbining Charities Scottish Charity Nurnber Lundie and Muirhead Parish Church of Scotland SC001085 Auchterhouse Parish Church of Scotland SC016717 Fowlis and Lrff Parish Church of Scotland SC002792 Please note Lundie and Muirhead Parish Church of Scotland is the former name of this charity which since the dale of Union has been known as 'Sidlaw Parish Church of Scotland" The basis of Union of these congregations was approved by the Office of Scottish Charity Regulator IOSCR} and the Church of Scotland Iparent charity - SC 0113531 with an effective Union Imergerl dale of 1 st February 2024. As this Union was a merger of the congregations into one continuing congregation the merger method of aeeounting was deemed appropriate. This means the financial statements show the eurrent and eomparalive figures as rf the entities have been the combined throughout those periods. Note 17 to 19 of the financial statements provides further details of the pre-merger and F)OSt-merger Statement of Financial Activities (SOFA) components as well as the net assets al the date of merger which make up the combined figures detailed in these financial statements. Trustees. Responslbllltles In Relatlon to the Flnanclal Statements The eharity trustees are responsible for preparing a trustees. annual report and financial statements in accordance with applicable law and United Kingdom Aeeounting Standards (United Kingdom Generally Accepted Accounting Practi￿1. 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 state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistenlly., observe the method and principles in the applicable Charities SORP., make judgements and estimates that are reasonable and prudent- state whether applicable accounting stsndards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements- prepare the financial statements on the going concem basis unless rt is inappropriate lo presume that the charity wll continue in operational existence. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable aecuracy at any lime the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Seotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 las amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other i￿egUlarities. The trustees are responsible for the maintenance and integrity of the charity and financial infomiation on the congregation's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may drffer from legislation in other jurisdictions. Approved by the Trustees on 29 July 2025 and signed on their behalr,

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Sidlaw Parish Church of Scotland

Independent Examiner’s Report to the Trustees of Sidlaw Parish Year Ended 31 December 2024

I report on the accounts of the charity for the year ended 31 December 202 4 which are set out on pages 7 to 2 0 .

Respective Responsibilities of Trustees and Examiner

The charity trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

The charity trustees consider that the audit requirement of Regulations 10(1) (d) 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 Independent 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 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.

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention

  1. Which gives me reasonable cause to believe that in any material respect the requirements:

  2. To keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the Accounts Regulations 2006 (as amended), and

  3. To prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or

  4. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Independent Examiner EQ Accountants Limited 14 City Quay Dundee DD1 3JA

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Sidlaw Parish Church of Scotland Statement of Financial Activities (incorporating an income and expenditure account) Year ended 31 December 2024

Income and endowments from:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
4
Other
5
Total income
Expenditure on:
6
Raising funds
Charitable activities
Other
Total expenditure
Net gains/(losses) on
investments
10
Net income/(expenditure)
Transfers between Funds
16
Net movement in funds
Reconciliation of funds:
16
Total funds brought forward
Total funds carried forward
Net income/(expenditure) before
gains and losses on investments
Note		 Unrestricted
Restricted
Endowment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
83,208
50
-
83,258
3,265
-
-
3,265
381
-
-
381
8,179
-
82
8,261
44,014
-
-
44,014
139,047
50
82
139,179
183
-
-
183
93,993
50
82
94,125
-
-
-
-
94,176
50
82
94,308
44,871
-
-
44,871
7,652
6,615
2,235
16,502
52,523
6,615
2,235
61,373
-
-
-
-
52,523
6,615
2,235
61,373
735,071
149,383
26,570
911,024
787,594
155,998
28,805
972,397		 Unrestricted
Restricted
Endowment
Combined
Funds
Funds
Funds
Total
2023
2023
2023
2023
£
£
£
£
80,288
15,813
-
96,101
8,060
1,759
-
9,819
405
-
-
405
5,121
3,621
580
9,322
-
11,161
-
11,161
93,874
32,354
580
126,808
-
-
-
-
83,924
4,181
90
88,195
-
-
-
-
83,924
4,181
90
88,195
9,950
28,173
490
38,613
5,953
5,193
2,151
13,297
15,903
33,366
2,641
51,910
39,118
(39,118)
-
-
55,021
(5,752)
2,641
51,910
680,050
155,135
23,929
859,114
735,071
149,383
26,570
911,024

The above are combined figures, for both the current and comparative period, which show the aggregated results of the united congregations (further details of the basis of Union during the year can be found in the Trustees Report).

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Sidlaw Parish Church Balance Sheet

As at 31 December 2024

Current Assets
Debtors
Cash at bank and in hand
Total Current Assets
Liabilities
Total charity funds
Net Current Assets
Net Assets
The funds of the charity:
Creditors falling due within
one year
Endowment funds
Restricted income funds
Unrestricted income funds
Fixed Assets:
Tangible assets
Investments
Total Fixed Assets		 Note Unrestricted
Restricted
Endowment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
541,929
-
-
541,929
88,765
91,358
25,922
206,045
630,694
91,358
25,922
747,974
11,306
-
-
11,306
147,995
64,640
2,883
215,518
159,301
64,640
2,883
226,824
(2,400)
-
-
(2,400)
156,901
64,640
2,883
224,424
787,594
155,998
28,805
972,397
-
-
28,805
28,805
-
155,998
-
155,998
787,594
-
-
787,594
787,594
155,998
28,805
972,397		 Unrestricted
Restricted
Endowment
Combined
Funds
Funds
Funds
Total
2023
2023
2023
2023
£
£
£
£
512,211
-
-
512,211
81,113
84,743
23,687
189,543
9
10
11
12
16
16
593,324
84,743
23,687
701,754
11,716
-
11,716
130,031
64,640
2,883
197,554
141,747
64,640
2,883
209,270
-
-
-
-
141,747
64,640
2,883
209,270
735,071
149,383
26,570
911,024
-
-
26,570
26,570
-
149,383
-
149,383
735,071
-
-
735,071
735,071
149,383
26,570
911,024

The above are combined figures, for both the current and comparative period, which show the aggregated results of the united congregations. The notes on pages 9 to 2 0 form part of these financial statements.

The accounts were approved by the Trustees on 29 July 2025 and signed on their behalf by:

----- Start of picture text -----
Session Clerk
Treasurer
----- End of picture text -----

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Sidlaw Parish Church of Scotland Accounting Policies Year Ended 31 December 2024

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 Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) effective from 1 January 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities accounts (Scotland) Regulations 2006 (as amended).

The charity constitutes a public benefit entity as defined by FRS 102.

Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Merger accounting has been applied to Auchterhouse Parish Church of Scotland and Liff and Fowlis Parish Church of Scotland which were United into Sidlaw Parish Church of Scotland (formerly called Lundie and Muirhead Parish Church of Scotland before date of Union). The basis of Union of these congregations was approved by the Church of Scotland (parent charity - SC011353) with an effective Union date of 1 February 2024. The merger method of accounting has been applied to these financial statements as if the entities had always been combined. The accounting policies of both Auchterhouse Parish Church of Scotland and Liff and Fowlis Parish Church of Scotland were previously aligned and consequently there has been no need to modify any existing accounting policies in consolidating the United congregation, other than restating from receipts and payments basis for all three charities.

Going Concern

The Trustees consider that there are no material uncertainties about the ability of the charity to continue for the foreseeable future, and therefore has adopted the going concern basis in preparing these financial statements.

Fund Accounting

Funds are classified as either restricted funds or unrestricted funds, defined as follows:

Recognition of Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donated Services and Facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102) the general volunteer time of congregation members is not recognised.

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Sidlaw Parish Church of Scotland Accounting Polices (continued) Year Ended 31 December 2024

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 charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt.

Interest Receivable

Interest on funds held on deposit 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.

Recognition and Allocation of Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.

Fixed Assets

The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church, halls and manse, 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 expenditure in the Statement of Financial Activities in the period in which the liability arises. One Church including Halls and the Manse, is vested in the name of the Charity. The properties are carried at deemed cost, other than the church building which is a listed heritage property and has not been brought into the accounts due to the difficulty in obtaining a valuation on a continuing use basis. The properties are not depreciated as the residual value is considered to be in excess of the carrying value.

All tangible fixed assets costing in excess of £1,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straightline basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:

Certain assets are considered by the trustees to be part of the heritage of the charity and are not depreciated since their value is believed to have appreciated significantly since initial acquisition.

Investments

Fixed asset investments are stated at market value at the balance sheet date. Unrealised 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 difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year.

Taxation

Sidlaw Parish 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 expenditure therefore include irrecoverable input VAT.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at Bank of Scotland, Virgin Money and with the Church of Scotland Investors Trust.

Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

Creditors

Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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Sidlaw Parish Church Notes to the financial statements Year ended 31 December 2024

Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
1. Donations and Legacies
Offerings
53,666
-
-
53,666
Gift Aid recovered
22,781
-
-
22,781
Legacies
1,000
-
-
1,000
Donations
2,151
50
-
2,201
Children's Groups
45
-
-
45
Soup Lunches
513
-
-
513
Friendship Group
3,052
-
-
3,052
Other
-
-
-
-
83,208
50
-
83,258
2. Income from charitable activities
Weddings and Funerals
-
-
-
-
Organisations
1,957
-
-
1,957
Concerts & events
1,308
-
-
1,308
3,265
-
-
3,265
3. Income from other trading activities
Rent Received from Property:
Hall Lets
381
-
-
381
381
-
-
381
4. Investment Income
Dividends received
1,570
-
82
1,652
Bank interest
6,609
-
-
6,609
8,179
-
82
8,261
5. Other Income
44,014
-
-
44,014
44,014
-
-
44,014
Receipts from General
Trustees		 Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
1. Donations and Legacies
Offerings
53,666
-
-
53,666
Gift Aid recovered
22,781
-
-
22,781
Legacies
1,000
-
-
1,000
Donations
2,151
50
-
2,201
Children's Groups
45
-
-
45
Soup Lunches
513
-
-
513
Friendship Group
3,052
-
-
3,052
Other
-
-
-
-
83,208
50
-
83,258
2. Income from charitable activities
Weddings and Funerals
-
-
-
-
Organisations
1,957
-
-
1,957
Concerts & events
1,308
-
-
1,308
3,265
-
-
3,265
3. Income from other trading activities
Rent Received from Property:
Hall Lets
381
-
-
381
381
-
-
381
4. Investment Income
Dividends received
1,570
-
82
1,652
Bank interest
6,609
-
-
6,609
8,179
-
82
8,261
5. Other Income
44,014
-
-
44,014
44,014
-
-
44,014
Receipts from General
Trustees		 Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2023
2023
2023
2023
£
£
£
£
55,829
3,050
-
58,879
15,871
763
-
16,634
5,000
-
5,000
288
-
-
288
214
-
-
214
658
-
-
658
2,428
-
-
2,428
-
12,000
-
12,000
83,208
50
-
83,258		 80,288
15,813
-
96,101
780
-
-
780
2,642
-
-
2,642
4,638
1,759
-
6,397
3,265
-
-
3,265		 8,060
1,759
-
9,819
405
-
-
405
381
-
-
381		 405
-
-
405
1,570
-
82
1,652
6,609
-
-
6,609		 1,933
1,877
488
4,298
3,188
1,744
92
5,024
8,179
-
82
8,261		 5,121
3,621
580
9,322
44,014
-
-
44,014		 -
11,161
-
11,161
44,014
-
-
44,014		 -
11,161
-
11,161

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
6. Analysis of Expenditure
Raising Funds
Bank charges
62
-
-
62
Offering Envelopes
121
-
-
121
183
-
-
183
Charitable Activities
Giving to Grow
37,920
-
-
37,920
Contribution
Presbytery Dues
1,666
-
-
1,666
Minister’s Expenses
2,425
-
-
2,425
Ministerial Assistance
2,904
-
-
2,904
Pulpit Supply
550
-
-
550
Other salary costs
150
-
-
150
Fabric Repairs &
10,876
-
-
10,876
Maintenance
Council Tax
1,802
-
-
1,802
Other Building Costs
8,760
-
-
8,760
Church Office Expenses
2,997
-
-
2,997
Organ & Music
6,653
-
-
6,653
Donations to other
-
-
-
-
charities
Flowers
149
50
-
199
Other Expenses
6,937
-
82
7,019
Deprecation
7,804
-
-
7,804
93,993
50
82
94,125
Total
94,176
50
82
94,308		 Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2024
2024
2024
2024
£
£
£
£
6. Analysis of Expenditure
Raising Funds
Bank charges
62
-
-
62
Offering Envelopes
121
-
-
121
183
-
-
183
Charitable Activities
Giving to Grow
37,920
-
-
37,920
Contribution
Presbytery Dues
1,666
-
-
1,666
Minister’s Expenses
2,425
-
-
2,425
Ministerial Assistance
2,904
-
-
2,904
Pulpit Supply
550
-
-
550
Other salary costs
150
-
-
150
Fabric Repairs &
10,876
-
-
10,876
Maintenance
Council Tax
1,802
-
-
1,802
Other Building Costs
8,760
-
-
8,760
Church Office Expenses
2,997
-
-
2,997
Organ & Music
6,653
-
-
6,653
Donations to other
-
-
-
-
charities
Flowers
149
50
-
199
Other Expenses
6,937
-
82
7,019
Deprecation
7,804
-
-
7,804
93,993
50
82
94,125
Total
94,176
50
82
94,308		 Unre-
stricted
Re-
stricted
Endow-
ment
Combined
Funds
Funds
Funds
Total
2023
2023
2023
2023
£
£
£
£
-
-
-
-
-
-
-
-
183
-
-
183		 -
-
-
-
35,409
-
-
35,409
1,784
-
-
1,784
2,133
-
-
2,133
-
-
-
-
400
-
-
400
3,220
-
-
3,220
8,431
-
-
8,431
1,544
-
-
1,544
14,190
-
-
14,190
1,709
-
-
1,709
3,128
-
-
3,128
-
450
90
540
143
50
-
193
4,029
3,681
-
7,710
7,804
-
-
7,804
93,993
50
82
94,125		 83,924
4,181
90
88,195
94,176
50
82
94,308		 83,924
4,181
90
88,195

Support costs have not been separately identified as the trustees consider there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified.

12

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

7. Staff costs and numbers
Total
Salaries and wages		 2024
£
2,912		 2023
£
2,755
2,912 2,755

The average number of employees during the year was as follows:

Music staff 2024
Number
1		 2023
Number
1
1 1

No employee had employee benefits in excess of £50,000 (2023 - nil)

All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipends and employer's contributions for national insurance, pension and housing and loan fund. Ministers' stipends are paid in accordance with the national stipend scale, which is related to years of service. For the year under review the minimum stipend was £31,162 and the maximum stipend (in the fifth and subsequent years) £38,884.

8. Trustee Remuneration and Related Party Transactions

During the year a trustee, received reimbursement of £4,227 (2023 - £3,713), comprising £1,802 for Council Tax, £1,743 for travel expenses and £682 for office costs.

8 trustees received reimbursement of expenses incurred totalling £4,658 (2023 - 1 trustee received £466). In addition, the daughter of two members of the Kirk Session received £2,350 (2023 - £2,350) for providing services as organist during the year.

No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year.

During the year a total of £14,102 (2023 - £16,954) was donated to the congregation by trustees and is included in "Offerings" in Note 1.

13

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

9. Tangible Fixed Assets

Cost
At 1 January
Additions
Disposals
At 31 December
Accumulated Depreciation
At 1 January
Charge for year
Eliminated on Disposals
At 31 December
Net Book Value
At 31 December		 2024
2024
2024
Other
Buildings
Assets
Total
468,188
56,433
524,621
458,521
-
458,521
(421,000)
-
(421,000)
505,709
56,433
562,142
4,719
7,691
12,410
4,719
3,085
7,804
-
-
-
9,438
10,776
20,214
496,271
45,657
541,928		 2023
2023
2023
Other
Buildings
Assets
Total
429,500
56,433
485,933
38,688
-
38,688
-
-
-
468,188
56,433
524,621
-
4,606
4,606
4,719
3,085
7,804
-
-
-
4,719
7,691
12,410
463,469
48,742
512,211

Included within "Other Assets" are £44,093 (2023 - £44,093) of heritage assets.

10. Investments

Market value at 1 January
Unrealised gain / (loss) on investments
Market value at 31 December
Investments at cost
The investments are carried at their fair value.
The following investments are held:
Church of Scotland Investors Trust Growth Units
Church of Scotland Investors Trust Income Units		 2024
£
189,543
16,502
206,045
112,267
No.
29,735
1,477		 2023
£
176,246
13,297
189,543
112,267
No.
29,735
1,477

14

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

11. Debtors
Gift Aid Tax Refund Due
12.
Accruals
13. Collections and fundraising for Third Parties
Christian Aid
Super Sunday - HIV
RSABI
Poppy Scotland
Shelter Scotland
DEC Turkey/Syria Earthquake
Eric Liddell Olympic Year Appeal
Mission Aviation Fellowship
World Day of Prayer
Scotland's Charity Air Ambulance
Creditors		 2024
£
11,306
11,306
2024
£
2,400
2,400
2024
£
837
180
260
453
1,126
-
305
80
200
150
3,591		 2023
£
11,716
11,716
2023
£
-
-
2023
£
1,131
236
111
140
-
778
-
-
-
-
2,396

14. Volunteers

In common with all congregations of the Church of Scotland the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown.

15. Analysis of Net Assets Among Funds
Current financial year
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at 31 Dec 2024
Comparative financial year
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at 31 Dec 2023		 General
Designated
Restricted Endowment
Total
£
£
£
£
£
541,929
-
-
-
541,929
59,730
29,035
91,358
25,922
206,045
106,185
53,115
64,640
2,883
226,824
(2,400)
-
-
-
(2,400)
705,444
82,150
155,998
28,805
972,397
General
Designated
Restricted Endowment
Total
£
£
£
£
£
512,211
-
-
-
512,211
54,403
26,710
84,743
23,687
189,543
88,808
52,939
64,640
2,883
209,270
-
-
-
-
-
655,422
79,649
149,383
26,570
911,024

15

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

16. Movements in Funds
2024 - current year
Endowment funds
Fenton Bequest
Inglis Bequest
Restricted funds
Flower Fund
Sunday School
Young's Trust
Development
Guild
Unrestricted funds
Designated - Children's Groups
Designated - Fabric Fund
Designated - Friendship Group
Designated - Guild Fund
Designated - Future Projects
(Legacies)
Soup Lunches
Reserve Fund
General Fund
Total funds
2024		 Investment
At 1 Jan.
Income
Expenditure
Transfers
gain/(loss)
At 31 Dec.
£
£
£
£
£
£
6,749
82
(82)
-
530
7,279
19,821
-
-
-
1,705
21,526
26,570
82
(82)
-
2,235
28,805
2,198
46
(46)
-
174
2,372
4,757
-
-
-
348
5,105
12,000
-
-
-
-
12,000
128,885
-
-
-
6,093
134,978
1,543
-
-
-
-
1,543
149,383
46
(46)
-
6,615
155,998
2,344
364
(194)
-
-
2,514
14,662
-
-
-
1,424
16,086
965
2,474
(2,912)
-
-
527
500
-
-
-
-
500
155
393
(126)
-
-
422
55,708
-
-
-
1,078
56,786
655,422
135,816
(90,944)
-
5,150
705,444
5,315
-
-
-
-
5,315
735,071
139,047
(94,176)
-
7,652
787,594
911,024
139,175
(94,304)
-
16,502
972,397

16

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

Endowment funds

Fenton Bequest - for the benefit of the elderly and needy

Inglis Bequest - for the benefit of the minister's family or for fabric

Restricted funds

Muirhead Church Refurbishment - Funds given for the refurbishment of Muirhead Church

Muirhead Church Kitchen - funds given for the refurbishment and redevelopment of the Muirhead kitchen Flower Fund - funds to provide flowers for display during services of worship

Sunday School - funds for use by the Sunday School and Messy Church Young's Trust - Funds to generate income to help the poor of the parish

Carrie - for improvements to the church building and equipment

Development - to assist with the cost of development work including training undertaken by members Guild - restricted funds relating to the activities of the Guild

Unrestricted & designated funds

Designated - Children's Groups - To provide funds for children's ministry Designated - Fabric Fund - Funds set aside for the maintenance of the Church property Designated - Friendship Group - for the provision of social activities within the parish Designated - Guild Fund - designated funds relating to the activities of the Guild Designated - Future Projects (Legacies) - legacy income earmarked for use in future projects Soup Lunches - funds to facilitate soup lunches within the parish Reserve Fund - funds for large fabric or general expenditure General Fund - Funds for the general running of the church

Transfers: all transfers were agreed by the Kirk Session and are in line with the relevant fund criteria.

17

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

16. Movements in Funds (continued) Investment
At 1 Jan. Income Expenditure Transfers gain/(loss) At 31 Dec.
2023 - comparative year £ £ £ £ £ £
Endowment funds
Fenton Bequest 6,071 144 - - 534 6,749
Inglis Bequest 17,858 436 (90) - 1,617 19,821
23,929 580 (90) - 2,151 26,570
Restricted funds
Muirhead Church Refurbishment 6,133 - - (6,133) - -
Muirhead Church Kitchen 18,061 14,924 - (32,985) - -
Flower Fund 2,036 - - - 162 2,198
Sunday School 4,583 - - - 174 4,757
Young's Trust - 12,000 - - - 12,000
Carrie 2,937 - (2,937) - - -
Development 120,107 3,921 - - 4,857 128,885
Guild 1,278 1,759 (1,494) - - 1,543
155,135 32,604 (4,431) (39,118) 5,193 149,383
Unrestricted funds
Designated - Children's Groups 2,013 214 (100) 217 - 2,344
Designated - Fabric Fund 14,662 - - - - 14,662
Designated - Friendship Group 1,096 2,428 (2,559) - - 965
Designated - Guild Fund 500 - - - - 500
Designated - Future Projects
(Legacies)		 - 358 - 4,957 - 5,315
Soup Lunches - 658 (503) - - 155
Reserve Fund 53,750 - - - 1,958 55,708
General Fund 608,029 90,216 (80,762) 33,944 3,995 655,422
680,050 93,874 (83,924) 39,118 5,953 735,071
Total funds
2023		 859,114 127,058 (88,445) - 13,297 911,024

18

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

17. Merger accounting - analysis of principal SOFA components for the current reporting period

Total income
Total expenditure
Net income/(expenditure)
Net gains/(losses) on investments
Net movement in funds		 2024
Combined
Total
£
£
£
£
£
1,581
1,331
8,454
127,813
139,179
(776)
(1,688)
(8,038)
(83,805)
(94,308)
Charity A
(pre-
merger)
Charity B
(pre-
merger)
Charity C
*(pre-merger)
Charity
(post-
merger)
805
(357)
415
44,008
44,871
-
-
-
16,502
16,502
805
(357)
415
60,510
61,373

Charity A, B & C refers to following charities which combined during this financial year:

Charity A Fowlis and Liff Parish Church of Scotland Charity B Auchterhouse Parish Church of Scotland Charity C Lundie and Muirhead Parish Church of Scotland

18. Merger accounting - analysis of principal SOFA components for the previous reporting period

Total income
Total expenditure
Net income/(expenditure)
Net gains/(losses) on investments
Net movement in funds		 2023
Combined
Total
£
£
£
£
36,217
33,179
57,412
126,808
(17,344)
(24,233)
(46,618)
(88,195)
Charity B
(pre-merger)
Charity C
(pre-
merger)
Charity A
*(pre-
merger)
18,873
8,946
10,794
38,613
1,178
10,939
1,180
13,297
20,051
19,885
11,974
51,910

19. Merger accounting - analysis of net assets at the date of merger and any adjustments

Net assets
Represented by:
Unrestricted funds
Restricted funds
Endowment funds		 Combined
Total
£
£
£
£
93,922
291,209
526,106
911,237
Charity A
(at Union
date)
Charity B
(at Union
date)
Charity C
*(at Union
date)
81,922 134,511 519,151
735,584
12,000 130,128 6,955
149,083
-
26,570
-
26,570
93,922
291,209
526,106
911,237

19

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Sidlaw Parish Church Notes to the financial statements (continued) Year ended 31 December 2024

19. Merger accounting - analysis of net assets at the date of merger and any adjustments (continued)

Details of significant adjustments required to align accounting policies

The accounting policies of both Auchterhouse Church of Scotland and Liff and Fowlis Parish Church of Scotland were previously aligned and consequently there has been no need to modify any existing accounting policies in consolidating the United congregation, other than restating from receipts and payments basis of accounting to accruals as appropriate.

All three parishes previously used the receipts and payments basis of accounting. The adjustments required related to the inclusion of Fixed Assets and Gift Aid debtors. No other material assets or liabilities existed at 31 December 2023 in any parish.

On uniting (the merger) there was no requirement to restate any of the unrestricted funds of any of the combining congregations other than as required to reflect the inclusion of the assets listed above.

20

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 282,195 282,195
Market Value of Balances at 31 December 308,984 298,285

REVENUE ACCOUNT

Credit Balance at 31 December 45,801 92,649
TEMPORARY ACCOUNT
Debit balance at 31 December - 37,501 -

TEMPORARY ACCOUNT

21