Peterculter Parish Church of Scotland Scottish Charity Number: SC001452 Congregation Number: 311913 Report and financial statements for the year ended 31 December 2024
Peterculter Parish Chureh of Scotland Contents Pagt Trust¢es' report (including reference and adminisirative infomiation) Independent examiner's report Statement of financial activities Balan¢¢ sheet 10 Statement of Cash flows Notes and 8ttounting policies 12-21
Petereulter P8ri5h Church ofseotland Report of the Trustees For the year ended 31 December 2024 The Trustees are pleased to present their report together with the financial staternents of the Church for the yearended 31 December 2024. Basi5 of preparation This report has been prepared in accordance with the accounting policie5 set out in note I to the financial statements and COtnpli¢s wilh the General Assernbly Re%ulations for Congregational Finance. the Charities and Trnstee Investment (Scotlandl Act 2005. the Charities Ac¢ounis {Scotland} Regulations 2006 {as amended) and "Accounting and Reporting by Charities.. Siatemeni of RecOended Practice applicable to charities preparing their financial statements in accordonce with the Financial Reporting Standard applicable in the UK and Republit of Ireland IFRS102) effective l January 2019" Objeftives and aetlvlties The Church of Scoiland is Trinitarian in doctrine, refonned in tradition and Presbyterian in polit),. It exists to glorify G£KI 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 to-operates with oth¢r Churches in vaTiOUS ¢cumenical bodie5 in Scotland and beyond. Achicvements and perforrnanc¢ The Church has been in vacancy for th¢ duration of 2024. During January. Sunday worship and pastoral Care were provided bv Rev Corne Randall. rom I" Febrnary onward5, the Rev. ssan Suiherland has been in position as the Locum Mini5t¢r. as retnained as Interim Moderator throughout the year. The process of calling a full-time minister commenced in 2024. Perniission to call 8 new minister was granted by the Presbytery of th¢ North-East and Northern Isles on the 18 December 2023. wilh a Nominating Committee elected on 25 February. The Nominating COMl¢e has worked hard, producing a Parish Profile, and advertising the vacancy. Unfortunately, despite their hard Ork, the Church remains in vacancy. The integrdtion of the fornier Drumoak-Dorri5 parish Continues to progress. Sunday services at both DU1$ Church and DNmoak Church Hall ceased at the end o(2023, but tnonthly, mid-week servic¢s were held in both venues throughout the year. Attendances at morning worship have steadily increased during the year due primarily to increasing numbers of forn)er DrUmoak-DuiS members attending worship. The Church of Scotland has instructed that ihe iwo churches at Durris and Drumoak are to be disposed of and have been put on the market. The Drutnoak chUh Hall is to remain in use. The Drumoak-Durris rnanse has been occupied throughout th¢ year underthe ternis of a Church of Scotland Caretaker Lease 3nd remains as an assei of (he local church. The P¢terculier manse was occupied on the same basis for the firsi half of the year bui is now vacant and is being upgraded anticipation of a new minister. Young Church continues io attract a limited number of children and the Christtn&% Nativity Play was a highlight. So¢ial activities remain an important feature of church life and a not insignificant contributor io income. Teas and coffees after Sunday tnorning worship. on Thursday mornings and once a month on Saturdays have continued to fomi an llnponant part of our fellowship. Both Peterculter Church premises And DTumoak Church Hall are regularly used during the week by a variety of organisations. Other ad hoc lets have occuryed throughout the year, fvrther contributing to the ChU'S income. Weekly collection5 of foLKI donatlOn5 by the Instant Neighlx)ur charity have continued throughout the year and are gre2tly appreciated by the charity. Following a Teorganisaiion of the Alic¢ Sutherland Trust agre¢d with OSCIL these ndS are now included with those of the Church within the Help Fwid. as the aims of both fimds are similar.
Peterculter Parish Church ol Seotland Report of the Trustees (continued) For the year ended 31 D¢ceN]ber 2024 Financial review During the period under review total incorne was £141,79812023 £302,705) which includcs £nil {2023 £193,095) of funds transferred following the Union with Drumoak. Ordinary general income from donations from Tn¢Tnbers, excluding legacies, was similaT to 2023 and our Gift Day thi5 yearrai5ed £3,701 {2023 £4.844), excluding Gift Aid tax to be recovered and reflected the continuing commitment of our Tnembers to the Church. This is also seen through our weekly coffees on Thursdays, Saturday5 and Sundays throughout the year thai raised £6,101. The fmancial statements for this y¢ar in¢lud¢ the income and expenditure of the new United charge for the fi]11 yearwher¢as the comparative figures reflect those of the former Peterclllter up to the dale of Union on l November 2023 together with all income of the United congregation fD)m the date of Union together with the transfer of the fund balances from Drumoak Durri5 at the date of the Union. The Church building5 continue to be well used by olltsid¢ organisations resulting in in¢om¢ of £13,400 (2023 £10,816). With increased Costs, in particular heating costs of £16,544 thi5 year, there was an overall deficit on our general unrestricted funds of £16,070. Designated funds had a small Su1v5 of £1,169 and restricted funds £2,813. This resulted in a balance at the year-end on the general and designated funds of £219,423 (2023 £2J4,324). restricied funds of £28,129 (£25.316} and an Endowment fund of £11,144 (2023 £10,591). The Church continues to mainiain its fabric to a high standard. In addzlion. during 2024 a full upgrade of the manse has comtnenced including the siart of work on a replacement bathroom and shower room before a fvll redecoration of most other rooms. in anticipation of new minister being called. Step5 are in place to progress the sale of the former Dn]moak and Durris churches as well as the fomier Drumoak Duryis rnanse. The sale of the fom)eT Durris Church concluded on 14 March 2025. The coniribution to the Church of Scotland's national organisation is the single largest element of annual expenditure, accounting for £68,479 and rhe congregation met its 2024 requiremenis in full. The amount that our congregation has contTibuted is in excess of the salary and related costs of the tninisiry and these funds are us¢d to provide salaries to ministers, as well as fund the activitie5 of the national organisaiion and the ass¢5smeni of ihe contribution is b&%ed on a fomiula linked to the receipts into the General fund. Risk Management The Truste¢s have considered the principal risk5 that face the charity, in panicular those relating to fjnances, and have put plans in place in order to Tnitigate these risks as far as possible. These risks fall undeT both fmancial and non-fmantial risks. With aD ag¢ing congreg81ion and a falling roll, both nationally and locally within the Church of Scotland, the ability to continue to raise sufficient funds from available resources, in order io meet both local needs and to contribute to the overall work of the national Church, is important. On lh¢ non-financial side attention has also been focussed on areas such as fire prevention, health and safety and f(bod hygiene. These rssks are managed by ensuring accrediiation is up to date, having appropriate polieies and procedures place and awareness training for all relevant Users of the buildings. Reserves policy The chariry Trustees have collsidered the reserves required and have taken into account theiT current and future liabilitieg. It is Ihe Trustees, policy to hold reserve5 of at least 12 months expendiiure excluding designated funds. At the end of the year the Church held unrestricted reserves of £219,423 of which £84.212 had been designated to fabric and other funds as specified in not¢ 12 10 the financial stat¢mentS. The Church also held £28.129 (2023 £25,316) of restricted fldS which have been provided for the purposes specified tn note 12 to the financial statements.
Petcreulter ParRsh Church of Scotland Report of the Trustees (continucd) For the year ended 31 DeceTnber 2024 Structure* governance and management (a) Constilution The Church is adminisieied in accordance wilh ihe terms of the Deed of Constitution (Unitary forml and 15 subje¢t to the Acts and Regulations of the general Assembly of the Church of Scotland. The Church is recognis¢d as a charity, number SCOO1452, by rhe OfFite of the Scottish Chaiiiies Regulator in accordance with the provisions of The Charities and Trustee Investment (Scotland) Act 2005. {b) Trustees Members of the Kirk Session are the current Trnstee5 of the Charity. The Kirk Session members are th¢ ¢ldtrs of the chUh and are chosen from those members of the Church who are considered to have (he appropriate gifts and skills. The Minister, who is a Tn¢mb¢r of the Kirk Session. is ¢l¢cied by the congregation and inducted by Presbylery. {¢) Organisation The Kirk Session is notmallj. moderat¢d by the minisr, but during the vacancy, has been moderated by the Interim Moderator ond meets ai least five times in a year. Certaitj responsibilitses are delegated (o the Finance & EXutiVe Committee and the Property Committee as approprEate. The Kirk Session is responsible foi both the SPiTltual and temporal affairs withtn the Church. Referellce and 4dministrAtiYe illformglion Charity registration number: Congiegation numb¢r'. Operational address.. Trustees Trustees, who include the prin¢ipal office-bearer5, who served since l January 2024 were.. SC001452 311913 2 Craigton CrescenL Peterculter, Aberdeenshire, AB14 OSB Princi Congregational Treasurer Session Clerk to 301612024 Session Clerk from 11712024 Interim Moderator Indepeiideii( F.xJm iiil'r Bankers The Royal Bank of Scotland plc, 40 Albyn Place. Aberdeen ABIO I I
Peterculter Parish Church of Scotland Report of the Trust¢e5 (continued) For the year ended 31 December 2024 Statement of Trustees, r¢5ponsibilities The charity Trustee5 are responsible for preparino a Trustees. annual rewrt and fin3ncial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted AecountEng Prattice). The law applicable to charities Scotland requires the thariti, Trustees to prepar¢ financial staternents for each ftnancial year which giv¢ a true and faiT vi¢w of the State of affair5 of the charity as at ihe end of the financial year and of the income and ¢xpenditure for that year. In preparing those financial statetnents, the Trustees are required to: s¢lect suitable accounting policies and then apply them consistcntly; observe the method and principles in the applicable Charities SORP. make judgements and estimates that are reasonable and prudent; .%tate whether applicable accounting standards and statements of recommended praciice have been followed, subject to any departures disclosed in the fman¢ial stat¢ments,' and prepare ihe financial statetnent5 on the going concert) basis unless it $ inappropriate to presume that the Charity will continue in bllsine5S. The Trustees are responsible for keeping pioper accounting records which disclose with reasonable accuracy at any time the financial posiiion of the charity and enable them to ensure that th¢ financial Statements comply with the Charities and Trnstee Jnvestment {Scotland} Act 2005 and the Charities Accounts {Scotlandl Regulations 2006 {as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevention and deteeiion of fraud and other Ktregulariiies. The Twstees are responsible for the mainienance and integrity of the charity and financial infomaiion on the congregation's website. Legislaiion in ihe Uniied Kingdom governing the preparation and disseminaiion of financial statements Tnay differ frorn legislaiion in other jurisdictions. roi'ed bN" thL Frusiees ebsioil Llerk l April 2025
Peterculter Parish Church of Scotland SC001452 Independent Exalniner's report to the Trustees of Peterculter Parish Church of Scotland (or the year ended 31 Deternb¢r 2024 I report on the a¢counts of the charity for the year ended 31 December 2024 which are set out on pages 8 to 21. Respeetive respon5ibilitie5 of Trustces and independent examiner As described on page 6 the Trustees are responsible for ihe prepaiation of the accounts in accordance with the tenns of the Charities and Trustee Investtnent (Scotland) Act 2005 and the Charities Accounts {Scotland) Regulations 2006 (as amended}. The Trustees ¢onsideT thai Ihe audit requ2reTnent of Regulaiion 10(1} {a) to Ic) of the Accounts Regulations does noi apply. It 15 my responsibility to examine the accounts as required under section 44{1} (c) of the Act and 10 state whetherparticular matters have ¢ome to my attenrion. Basis of iNdepend¢nt examiner's stsiement My exatnination is ¢aryied out in accordance with Regulation I l of the Charities Accounts Iscotlandl Regulations 2006 (as amended). An examination includes a review of the accounting re¢ords kept by the charity and a comparison of the accounts presenEed with those records. It also Èncludes consideration of any unusual item5 Qr disclosures in the accounts and seeks explanations from the Trustees eoncerning any such matters. The procedures undertaken do not provide all the evidenee that would be required in an audit and consequently I do not express an audit opinion (Trn the view given by the accounts. Jndependent examiner's statement ID the course of My examination, no matter has to Come to my attention which gives me reasonable ¢ause to believe that in any tnaterial respect of the requirements.. to keep accountEng records in accordance with Se¢tion 44{1) (a) of the 2005 Act and Regulation 4 of the 2006 Account5 Regulations {as amended), and to prepare accounts which accord with the accounting records and comply with Regulation 8 ofthe 2006 Accounts Regulations (as amendcdl have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper widerstanding of th¢ accounts lo bL fLdclied
Pet¢rculter Parish Church ofscotlaDd Statement of Financial Aetivities Ytar ended 31 December 2024 Unrestrictcd Funds 2024 Restricted Funds 2024 Endowment Funds 2024 Total 2024 Tot#1 2023 Note Incorne Donation5 and legacies Charitable activities InveStentS Other 104,443 24,988 8,211 1,220 105,663 24,988 9,237 84,317 21,612 3,681 473 553 Total income Eyp¢nditure RaÈsing funds Charitable activities 1,981 152932 1,981 153 731 2,148 122 513 799 Total expenditure 79 r4et in¢ornel(expenditure) before gains and losses on investments 117,271) 2,804 553 (13,914) 178,044 Net gains I (losses) on investments Net income / (expenditure) {14,892) 2,804 553 {11,535) 180,621 Transfers between funds P4et mol'ement ID funds (14,901) 2,813 553 {11,535) 180,621 Reconeiliation of funds Funds brought forward 12 234 324 270231 Funds carried forward 12 The statement of f]nancial a¢tivities includes all gain5 and losses retognised in the year. All income aDd expenditure derive frotn continuing activities.
Peterculter Parish Chureh of Scotland Stalement ol Firtaneial Activilies Year ended 31 Deeember 2024 Unrestricted Funds 2023 Restrieted Fund5 2023 Endowment Funds 2023 Total 2023 Note Income Donations and legacies Charitable a¢tiVilies Investments Other 82,235 21,612 3.369 176666 2,082 84,317 21,612 3,681 193 095 89 223 Total income Expenditure Raising funds Charitable activities 2,148 119461 2,148 122 513 Total expenditure Net Intoe/(eXptnd1Ire) belore gains and losse5 on investments 162,273 5,180 10,591 178,044 Net gains l (losses) on investhienis Net income / (expenditure) 164,850 5.180 10,591 180,621 Transfers between funds Net movement in lunds 164,841 5,189 10,591 180,621 Reconciliation of funds Funds brought forward 12 Funds carried forward 12 The ststement of fmancial activities includes all gains and losses recognised in the year. All intome and expenditure derive from continuing activities.
Peterculter Parish Church of S¢otland Balance sheet as at 31 DeceN]ber 2024 2024 2023 Note Fixed Assets Invc5ttncnts Current assets Debtor5 C&sh at bank and in hand io 17,874 203 520 221,394 12,966 215 744 228,710 Creditors: amounts falling due within one year Creditors and accruals Net eurrent assets Total assets less current liabilities 58 2JJl The funds of the charity: Endowment funds Unrestricted income fvnds Restricted income funds 12 12 12 11.144 219,423 10,591 234,324 Total charity funds 12 The account5 were approved by the Kirk Session on l April 2025 For and on behalf of the Kirk Session 10
Peterculter Parish Church of Scotland St2tement of Cash Flows Year ended 31 December 2024 Note Totsl Funds 2024 Total Fund5 2023 Net cash used IN operating activities 16 Cash flows fron] inve5tfftng Activities: Interest and dividends Investments introduced 9,237 3.681 Net ¢ash provided by investing activities Cash nows from financing 4¢tivities Repayment of borrowings Net ¢ash provided by financing activities Change in cash and eash equivalents in the year (12,224) 139,905 Cash and ¢ash equivalent5 brought forward 215 744 Cash and Cash equivaltnts carried forward
Ptterculter Parish Church of Seotiand Notc5 and aceounting policies Year ended 31 Deecmber 2024 Accounting policies The principal accounting poli¢ies, which have been applied consistenily in the current and preceding accounting year in dealing with items which are consideTed to be material to the r]nancial ststements. are set out below. la) Basis of preparation The flnancial siatements have been prepared in accoidante with the Statement of Recommended Practice.. Accounting and Reporting by Charities applicable to tharities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FKS102) issued on 16 July 2014 and the Financial Reponing Standard applicable in the UK and Republic of Ireland IFRS102), (as amended for accounting periods commencing l January 2019), the Charities and Trnstee Investment {Scotland) Act 2005 and the Charitie5 Accounts {Scotland) Regulations 2006 (a5 amended). The chUb wnsiitutes a public benefit entity as defined by FRSIO2. The financial statements are prepared in £ sterlin& which is th¢ functional CLurency of ihe charity. (b) Income All income is recognised in the statement of financial activities when the charity has entiilemeni io the funds. any perforniance condiiions attached to the item(s) of income have been meL li is probable that the income will be received, and the amouni can be measuTed reliably. Donated services and facilities Donated professional services and donated facilities are recognised as income when the chariry has control over the item, any condiiions associated with the donated item have been met, the receipt of economic benefit from the Use by the charity of ihe item is probable and that the econtsmie benefit can be measured reliabl}'. In accordance with the Charities SOiiP (FRS102) the general volunteer time of congregation members is not re¢ognised. On receipt, donaTrd professional services attd dortad 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 io pay io obtain the services or facilities or equivalent economic benefit on the open market. a corresponding amount is then recognised as expenditur¢ in the period of receipt. Interest reeeivable Interest on funds held for depgsit is included when receivable and the amount can be measured r¢liably by the charity. this is normally upon Dotification of the interest paid or payable by ihe Bank. (c} Expenditure and irrecoverable VAT Expendire is recogni5ed once there is a legal or Constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the atnount of the obligation can be measured reliably. Expenditure can be classifjed under the following activity headings.. Costs of raising funds comprise the costs of w¢¢kly offering envelopes and ihe direct costs associated with fundraising events. Expenditure on charitable activitie5 includes all other costs associated with the runningof the charity to further its purposes and the associated 5UPPOrt costs. Ir0Verable VAT is charged as a tost against the aciiviry for which the expenditure was incurred. 12
Peterculter Parish Churth of Scotland Notes Ond accounting policies (Cont'd) Year ended 31 December 2024 Accounting polieies {¢ontinued) (d) Operating leases The charity elassifJ¢s the lease of printing equipment as an operating lease. the tEtle to the equipment remains with the lessor and the equipmeni is replated every 5 years whilst the economic life of such equipment is nomally 10 years. Renthl clwges are charged on a straighi-lin¢ basis over the period of the lease. (e) Fund aeeounting Funds are classified as ¢ither restricted funds or unrestricted funds, defined as follows-. Unrestricted funds are expendabl¢ at the discretion of the Trustees in furtherance of the objetiives of the charity. If parts of the general fund ar¢ earniarked at the discretion of the Trustees for a particular purpose they are designated as a separate nd. The designation has an administrative purpose only and does not legally restrict the Trustees, discretion to apply the fund. Restricted funds are subject to specific restrictions as to their use which may be declared by the donor or wilh their authority or created through legal process, but still within the wider objetts of the charity. Endowm¢Dt funds are funds which have been given on condition thai ihe original capiral sum is not reduce(L but the income therefrom is used for the purpose defined in accordance wilh the objects of the charity. (fj Tangible fixed assels The charity has the right to occupy and use for its charitable objects certain fixed assets including the Churc halls and manse vested in the Church of Scot18nd General Trustee5. No consideraiion is payable for the use of these assets. Expenditure incurred on the repair and Enaintenance of these a55ets is charged as expenditur¢ in the statement of finantial activities in the period in M'hich the liability arises. (g) Taxation The charity is exempt from tax due on income and gain5 falling within sect20n 505 of the Income and Corporation Taxe5 Act 1988 or seciiort 256 of the T&Yation of Chargeable Gains Act 1992 to the extent thai these are applied to its charitable objects. No t&x charge5 have arisen in the charity. (h) Golng eoncern At the time of approving the financial Statements the Trustees have a reasonable expectation that the charity has adequa resources to confinue in operatsonal existence for ihe foreseeable future. Thus the Trustees continue to adop( the going ¢on¢ern basis of accounting in preparing the financial statements. (i) Cash and ea5h equivalents Cash and cash eouivalents include cash in hand, deposits held on call with banks. other short-temi liquid investments with original maturities of thre¢ months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in ¢urreni liabilities. (i) Investments Fixed asset investments are initially measured at transaction price and are subsequently measured at fair value at each reporting date. Unrealised gains and losse5 representthe difference between the market value at thebeginning and end of the financial year or, if purchased in the year. the difference between cost and tnarket value at the end of the year. Changes in fair value are recognised in net income {expe[jdirel for the year. Realised gains and losses represent the difference between the proceeds and the market value at the start of th¢ year or cost if purchased in the year. 13
Petereult¢r Parish Church of Scotland Notes and #ccounting policies (cont'd) Year ended 31 De£tber 2024 Accounting policies (tontinued) (k) Financial instrurnents The charity ha5 elected io apply the provisions of S¢ction I I 'B35ic Financial Instruments" and Section 12"Other Fitlancial Instrumenr issues of FRS102 to all its financial instruments. Financial in5truTnents are recognised when the charity be¢oTnes party to the contracrnal provisions of the ill5trument. Financial assets are offset, with The nei amounrs Presented in ihe ac¢ounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a Det basis or to realise the asset and settle the liability simultaneously. Basie financial 2s5ets Basic financial assets, which include debtors and cash and bank balances, are initially Tneasured at transaction price including transaction eosts and are subsequently Ca led ar amortised ¢o5t using the effective interest rnethod unless the arrangements constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounied ai a market Tate of interest. Financial assets classified as receivable within one year are not amort15ed. Basie finantial liabilities Basic financial liabiliiies, including Creditors and bank loans, are initially recognised ai transaction price unless the arrangement5 constitute a financing transaction. where the debt instrnment is measured at the preseni value of the future pavments discounted at a market rnte of interest. Financial liabilities classified as payable within one year are not amortised. Debt instn]ments are subsequently Carried at amort15¢d cost, using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Amounts are classified a5 currcTit liabilitie5 if payment is due within one year or less. If ntsl, they are presented as non-¢urrent liabilit2es. Trade creditors are recognised initially at transaction price and 5ub5equently measured at amortised cost using the effective interest method. Derecognition tsf financial liabilities Financial Isabilities are derecognised when the charity's cgntrdctual obligaisons expire or are discharged or cancelled. (11 Employee benefits The costs of short-tern) employee benefits are recognised as 8 liability and expense, unless these costs are required to be recognis¢d as pan of ihe cost of siock or fixed assets. The cost of any unused holiday entitlement is r¢cognis¢d in the period in which the employee'g services are received. 2. Critical aecounting estimates and judgements In the application of the eharity's accounting p)licies, the Trustees are required to make jlldgetnents, estimates and assumptions about (he canying amount of assets and liabilities that are not readily appaient from other sources. The esrimaies and associated assumptions are based on historical experi¢n¢e and other factors ihai are considered to be relevant. A¢tsal results may differ from ihese estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. R¢visions to accounting estiTllate5 ar¢ recognised in the period in whieh Ihe estimate is revised where the revision only affects that period, or in the period of the revision and future period where ihe revision affects both curr¢nt and futhre period%. 14
Peterculter Parish Church of Scotland Notes gnd aetounting policies (eont'd) Year ended 31 December 2024 DonAtkons and legacies Year to 31 December 2024 Unrestricted Restricted Endowment Funds Funds Furtd5 Total 2024 Offerings Tax recovered on gift aid Endowment in¢ome Legacies Glebe Tent Other donations and grdnis 69,654 12,225 2,780 10,327 4,601 69,654 12,225 2,780 10,327 4,601 Year to 31 Dec¢rnber 2023 Unrestricted Restricted Endowment Funds Funds Fund$ Total 2023 Offerings Tax recovered on gift aid Endowment income (hher donations and grants 68,389 12.3(X) 1,066 480 68,389 12,300 1.066 082 4. Income Irom charitable activities Year to 31 December 2024 Unrestricted Restrieted Endowment Funds Funds Funds Total 2024 Regular fundraising events Weddings and funerals Use of premises Other 8,052 1.282 13.400 8,052 1.282 13,400 Year to 31 December 2023 Unrestrict¢d Restricted Endowment Funds Fund5 Funds Total 2023 Regular fundraising events Weddings and funerals Use of premises Other 7,084 460 10.816 7,084 460 10.816 15
Pel¢rculter P8ri5h Chureh of Scotl8nd Notes and ae¢ounting policies (cont'd) Year ended 31 D¢cenJber 2024 5. Investment income Year to 31 December 2024 Unrestricted Restricted EDdowment Funds Funds Funds Total 2024 Deposit fund inierest Interest on tax re¢overed Bank interest 6,984 134 446 553 7,983 134 27 Year lo 31 December 2023 Unrestricted Restricted Endowment Funds Funds Funds Total 2023 Deposit fund interest 2,693 68 223 2,984 Interest on tax recov¢red Bank interest 29 647 29 668 6. Other Year to 31 December 2024 Unrestricted Restricted Endowrnent Funds Fund5 Funds Tot#1 2024 Transfer Alice Sutherland Trust Year to 31 December 2023 Unrestricted Restrictcd Endowment Funds Funds Vunds Total 2023 Transfer of Union balances 95 Anglysi5 of expenditure Unrestricted Restricted Funds Fund5 Totsl Unrestricted Restricted 2024 Fund5 Funds Total 2023 Raising funds Oftering envelope5 Fundraising cosis 224 224 239 239 16
Petercult¢r Parish Chureh of Scotland Notes and accounting policies (cont'd) Year ended 31 Deeember 2024 7. Analysis of expenditure (cont'd) Unrestricted Restrieted Fund5 Funds Total Unrestricted Restrieted 2024 Fund5 Funds Total 2023 Charktable activitie5 Giving to Grow allocatson Locum costs Presbytery dues 68,479 13,936 68,479 13,936 715 86,130 1,291 633 15,837 16,130 24,397 3,201 70,234 70,234 86,130 1,291 633 15,837 16,130 24,397 3,201 71.964 170 2,565 13.911 6,052 16.638 3.352 71.964 170 2.565 Minister's expenses and council t& Pulpit supply Other salary costs Fabric repairs and tnaintenan Other building costs Church offJ¢e expenses Other expenses 6.052 16.638 3.352 799 Suppon costs have not been separately identified as the Trustees consider that there is only one eharitable activity. Therefore, supwn costs relate wholly to that activity and have not been separately identified. 8. Emolumellts and staff costs Staff eosts were as follows: 2024 2024 Wages and Salaries Employer's national insurance 15,837 No employee received remuneration of more than £60,000 per annum. The average number of etnployees during the year, calculated on the basis of a head count, was as follow5.. 2024 Nufftber 2021 Numbei Admrni5tration Pretnise5 maintenance Music staff Total All Church of Scotland congregatLOll5 contribute to the National Stipend Fund which bears the rosts of all ministers, stipends and eTnployer's contributions for national insurance, pension and housing and loan fund. Ministers, stipends are paid in accordance with the national st1ped scale, which is related to years of service. For the year under review the minimutn stipend was £31,642 and the maximum stipend (in the fifth and subsequent years) was £38,884. 9. InvtttTNent5 2024 2023 As at 31 December 2023 Transfer of Union balance Unrealised gain in year As at 31 December 2024 47.267 44,690 17
P¢tereulter Parish Churth of Scotland Notes and accounting policies (eont'd) Year ¢nded 31 December 2024 10. Debtors 2024 2023 Gift aid tax recoverabl¢ Other debtors 12,725 12,570 396 11. Creditors: amtsunts falling due within one year 2024 2023 Accruals Other creditors 6,662 2.900 12. Movements in funds l Jgnu8ry 2024 Incoming Resourees Resources Expended Unrealised Gains 31 December 2024 Transfers Unre5tri¢ted funds General fund Designoted funds.. Social fund Session fund Fabric fund 151,281 124,112 {141,849) (7121 2.379 135,211 61 12,000 {4971 500 64 12,000 203 Restricted funds: Help fund Key deposit Rogie bequest Young church Flower fund Resthcted funds AV fund Benevolent Fund Flora Donald Development Walker legacy Walker grave Boyd headsione Charity fund 2,739 77 100 2,926 2,052 5,385 825 1,469 122 4,502 1,003 392 35 2.088 5,119 9,946 78 100 3,534 1,873 5,385 825 1,757 129 4.502 674 545 (75) (724) 288 (1,003) (392) 135) 12 Endowment funds Totgl fund5 Represented by: Unrestricted Restricted Funds Funds Endowment Funds Tot81 Investments Nei cu]Tent 85sets 49.646 169 777 49,646 209 050 219423 18
Petereulter Parish Church of Seotland Notes and accounting policics (cont'd) Year ended 31 December 2024 l January 2023 Incoming Resources Resources Expended 31 December 2023 Tr8nsfers Unreali5ed gains Unrestricted funds General nd Designated funds: Social fund Mid-week lunches Session fund Fabric fvnd 28,952 239.591 (119,526) (313) 2,577 151.281 19 196 {458) 500 (196) 61 12,0(K) 12,000 Restrieted funds". Help fund Key deposit Rogie bequest Younts church Flower fund Restricted funds AV fund Benevolent fund Flora Donald Development Walker legacy Walker grave Boyd headstone Charity fund 2,682 76 100 2,299 ,216 5.385 3.250 57 2,739 77 100 2,926 2,052 5,385 825 1.469 122 4,502 1,003 392 35 670 {52} (575} (2,425) 1,469 122 4,502 1.003 392 35 Endowment fund5 Total funds Represented by: Unrestricted Restricted Funds Funds Endowmcnt Tot41 Funds Investments Net Current assets 47,267 187 057 47.267 10 591 222 964 Purpose of Vunds Design8ted funds S(Kial fund.. A fund io provide 5UPPOrt for social and fundraising activities. Mid-week lunches". Funds to provide lunches for ihe community. Session fund.. Fund5 to be Utlised at the discretion of Session for futur¢ fabric works. Fabric fund.. Funds set aside for fabric repairs of a maiers21 or capital nature out with nornlal repairs. 19
Peter¢ulter Parish Church of Scotland Notes 8nd accounting policies {cont'd) Year ¢Dd¢d JI December 2024 Restricted funds Help fund.. To provide suppon to ihe poor of ihe Parish. Key deposit fiind". To hold key deposi1% nei of replacement lock costs. Rogie bequest.. To provide an annual income io ihe Young Church. Young church.. To receive colleciions for specific chariiable donations and the running ofthe group. Flower tund.. l o provide flowers during the seivices of worship and oiher occasions within Ihe Church life. Restiicied funds.. To hold funds for speLific fabric WOTk on Church building repairs. AV Fund.. To hold funds to improve the streaTning of services. Benevoleni fund.. To hold funds for special needs wiihin the parish. Flora Donald bequest.. To hold funds for fabric PUTposes at Drumoak Church. Developmenr fund.. To hold ndS for upgrade work and equipmeni at Drumoak Church. Walker legacy.. Interest on capital to be paid to the incumbent minister. Walker ¥rave". Inwest on capital to be used for the upkeep of the Walker headstone. Boyd head5tone'. Interest on capital to be used for the upkeep of the Boyd Headstone. Charity fund". This fund contains many STnall Icgaeies principally for the poor. 13. Controlling party The charity is under the control of the Trustees, as delailed on page 5 throughout the ¢lreAt and preteding year. 14. TTllStee remuneration and related party tran$8ctions During the year under revi¢w the charity r¢imburscd ¢xpcn5C5 of £3,684 10 6 Trnstees. In addition. the Charity paid the followin(p TDJstees. or those related to them. for service5 Supplied as follows.. Related party Transaction Arnount Outstanding Organist Salary 2,138 No other Trustee. or a p¢rson r¢lated to a Irustee. had any personal interest in any contract or iransaetion entered into by the charity during the y¢ar. t)uring the year a total of £21,159. ¢xcluding CJift Aid, wa5 donated to the congregation by Trustees. 15. Volunteers In cotnrnon with all Congregations of the Church of Scotland the congregation benefits from the contributson made by volunteers who give theiT time and talents willingly for the benefit of the Church. The areas of congregational life whi¢h rely on the contribution of volunieers are many and varied and much of the activity would be unable to continue were li not for the commilmenr shown. 16. Reconciliation of net movement in funds to net cash flow from operating aetivities 2024 2023 Nei movement funds Deduct interest income Gains l Losses on investments Decrease l {increasel in debtor5 Increase I (decrease) in creditors (11,535) (9,237) (2,379} (4.908) 180,621 (3,681} 12,5771 3,090 Net eash used in operating activitie5 20
Peter¢ult¢r Parish Church of Scotland Notes and accounting policie5 (cont'd) Year ended 31 December 2024 17. Operating lease commitments At the reporting end date the charity had outstanding commitments f(Trr future minimum lease payments under non- cancellable opeiating leases which fall due as follows.. 2024 2023 Within one year Between two and five years 1.000 1,000 The operating lease represents a lease of a multifun¢tion device frorn a third party. The lease term 15 over S years and rentals are fixed for the full terni of the lease. Expenditure for the year in respect of this lease amounts to £1,000 {2023 £ 1,000) 18. Collection5 for other Charities During the year ihe Church also undertook various collections for other Charities as follows.. 2 The Nations Aberdeen Sireei Pastors ChTlStian Aid Poppy5¢0tland Let This Little Lighi UNJCEF- Jars of Grace 542 227 683 686 227 60 21
Peterculter Parish Church of Scotland Appendix to the fin#n¢ial statement Year ended 31 Decen]ber 2024 Funds held on behalf of the congregation by lh¢ Church of Scotland General Trustees 2024 2023 Capital account Credit balance at 31 December 2023 at cost 284,594 Transfer of Union balance 240,169 Transfer from Con501idaied Fabric fund Credit balance at 31 DeCemr 2024 ai cosi Market value of balances ar 31 December 2024 Revenue aeeount Credit balance at 31 DecemLYr 2023 43,902 Transfer of union balance 37,407 Inve5tmeni income 17,104 6,495 Admin costs Credit balance at 31 December 2024 Temporary Fund5 Debit balance at 31 December 2023 Dtumoak (1,956) Durris Debit balance at 31 December 2024 22