Dundee Parish Church (St Mary's) Church of Scotland Report and Accounts for the year ended 31 December 2024 CongregAtion No: 291724 Scottish Charfity No: SC002198 Dundee Parish Church (St Man s) Church ot ScotlAnd CoDttnis Pgge Trllsrees Annual R¢pon Repon ol. the Independent Examiller Staterneni of Financial A¢riiiiies Balollce Sheet Notes fornJing part of the A¥¢vuni$ 10-70 Dundee PArlsh C.hur¢h (St Mary"'s) Church of Scotland Trustees, Annual Report Tr"ear ended 31 December 2024 Th¢ Trust¢es present the annual repon and accounts for Dundee Parish Cburch (St Mary's) Church of Scodand for th¢ Tr¢ar ended 31 Decembei ?0:4. The accounts haie been prepared ￿ accordance with the a¢¢ountittg policIes sd oui the noTes to the accounTS and comply witb the General Assemblv Regulaiions for Congregational F￿an(c, the CE￿itieS and TnLStee Investment ISLOtland) Aci 200f, the Charilie4 Accounts (Scotlandl Regulalioiis 2￿6 las amended) a￿d Acc4)uniin8 and Reporting by Charities Sia*meni of Recornmended Practice applicable to chariiies preparing their accounts in a¢uKdance with the Financial Reporting Standard applicable lo the IJK and Repuhlie of Treland effeLit%e I Ianuan. 2019. OWECTIN'ES ACTIVITIES The Churth of %eotland is TrinitsTian in ￿(￿￿ne. reform¢d in tradiiion and Presb}ierian in policv. Ir extsis 10 810rify' God and work fo¥ the adva￿Ct￿ent of Chrisi"s Kin8dom tF￿uBknU1 the ￿orld. As a national Church It a¢kno￿ledge$ a distinctive tall and to bring the ordinances of religi()n t() the pe(Jple tn et'ery Parish of scrtland through a terratorial ministry. It operate5 'ith other C.hur¢hes in various e¢unJenical iK)dies in Scotland and beyond. In A tmai Jeor S¢n'ice8 are htrld eiery SundaJ ai 11. 15 a.m. The Sa¢ramcDt of Holy Communiotj is ¢elebT&id on E&sier Sunday. the fourth Sunday of Oclobtr and on the last Sunday of August. It is Jlso ¢¢lebrated on Chrisiinas Day if ri falls oft A Sunday. If nol. it is celebrated on the Sunday of the folloK'ing January instead. LlnfortuThat¢ly. like 021 70?4 il'as again not a nornial s'ear owin8 to the ll'Or1d￿ld¢ impA¢t of coroDaN"ims. In a¢cordanc¢ fvith the ]nstructions of the ￿O￿lSh Parliarnent and the Church Office it) Edinburgh. w'hile SetLicesdid rtoi have to be disconiinutd. the on80￿4 concerns thei'irus Jniti8]ly did haie a tKgatike etTeci on numbEr5 attendin8 although numbers recovered as the year progressed. However. ￿.¢ were able 10 conduct a full Con)munioii Sernice on 31" March and 27th Ociober. A public Remen)brance Day Se￿1¢e wa% also held on 10 Novernber and a Sen'ice for the Kirkin, of the Ciuildry Incor￿TatiOn of t￿ndee was held In S￿teTubeT. It 15 plca5ing io note that in spite of coniinued C.oronaNirus conetm& ￿eeklY congregational aiienda#te ¢oniinued to improve a5 the year progresse(L Sunday Services continued to be relayed to local IKkspitsls foi the b¢nefii of pati¢nts. As the Ljty Lhurch. St. NIatv's maintATllS links with the Cit) Council and ￿..Ith the Lniversity of Dundee and the L'niNerstiy of Abeftaj. Dundee. DuriJ)g the veaT St. NlaEV s alli)wed the free use of its hall for classes ofthe Unii'ersity ofDundee Yoga S¢xiety. The university of Dundte and St Uary'5 jOit]Ili fiiiiil Ilie provision up to 4 scholarships for Chor21 Singine classes ￿der th¢ teLage of the Master of Music ￿ St Mary s There ￿tre two Unikersity Scholars in 2024 joined by two school pupils. ChoiT iehearsa15 al Si Mars s look place on gundays prior to . I lessons will be started ID 2025 ifrequtred or if the need arises. On¢ orgwi ￿h01￿ enjoyed again tuitioTh from St. Mary's hosted the N'aiio*al Youth Choir of Scotlatld ITa}%ide Branch) Christma5 Coneert in the Church on 4 December and Candlelight Concert by The Scottish EnsellTrble on 9th Deccmber. It is hoped that they w'zll retL￿1 in 2025. Other ¢(>n¢¢rts are also belng planned. St. Mary's suppons Dunde¢ Foodbank personal effects. Atchristtnas, Elder5 deliTr'er¢d Christma5 wishe5 andchrisllnas parcels to 4? members of St Marv s w,ho Nve eithtT h()usebound, Ill or unable io come 10 C'hurch on Sundays. Just pnor to C7Lfigkna$ a cash 8ift u'as a1$0 8ip¢n ro 22 elderly membeTh And noii-membcrs to as51St them in m&nu8Ln¥ their financts through the cost of living and heati￿8 and lightitt8 crises. Because of concerns about coronaMTUS M.'hich continued to be raised by some members of the Wednesday Club. no Dltttillg of the Club took pla¢e in 2024. HoTheTrer. the Coffee. CoTnpanJ and Chat mornit]gs did contlDUe on a monihll basi5 and w¢re enjoyed by regular llttendances eath month. Regular monihl}' meetings of the Support Group Tavside Polym)algia and Giani Cell Arteritis Group ¢ontinued during ibt vear. The weekly Coffee Bar on Sundays after morning Service also coniinued. Dundee Parlsh C'hurch {St Ilan s) Church of Seotland Trusttes, Annual Report (cont) 'eAr ended 31 Deeember 2024 ACHIEI"E.METr*TS A.ND PF.RFo￿N1AyeE Fln*nel#l Rel'ie IE)iom¢ from ()fi¢rings In8ke% w) the PTin¢ipal sourcc of income. this decreased sljglitli. this %"eAr from L: l 70, 10 1:0.9<8. Doiiaiions hate al81) del TLasL.d from 478 10 £2.80S Tax reiovered oh Gitl Aid ha5 Increas¢d trom £4.841) io t< I l* ere ai4(s i¢iciv¢d In ihe lear iir £? *54 1.07 Le¥acies -3 £7) 571). n)¢ iiujnber uf coinniu112iani Intinb¢rs ai .31, DcLeinber O?4 li ily 2?7. dotkn fN>in ?46 jii 2(1?l Follo￿ing Ilie Iiiiking ot- St I1￿￿r%- s ￿.1111 Si SILT)h¢115 &. W'esl, Si fvlar%' $ has r¢ieii'ed reinil)ursem¢nt froin lh¢ linked Lh3r¥t nf i? 128 120)1 £7.7061 in re.qpe¥l L7f It i)nL hiilf %h.Ire t)f th¢ minisier's and manse e.Kpenses Simili?rlk. cosis hai t decreased ihe ycor flo￿ £:01,4:1 to 1159.001. Iniestthejit irt¥oJiie ionriiiLies Iv be a very ijnportant elemenr of the oi"erall Income stttam. Dtvidend income has incre25ed by 8.0 despite world e3"ent> il'ith the on¥oing war In Lkraiiie and il)e situation in the Middle Easr boih of v.hich add pr¢s5UTe ro the global economs.. Inie5tmeni Pollei and Perforrnafj¢e Our in¥'esim¢nl advisi)rs are insrructed to it)i'esi io maxiniise the Iolal reiiim otj perniane¢Jt eild0￿7nettt fund% M iihin the ¥on51raiJit.% i)r iE medium TO IL)ii risk ini'¢sttiitnl portfolio. I'he cKpcnd1E bl¢ end0￿.1￿¢￿t is mana8dl as a mLdium risk porttolTO 'ith ?4 bias tom ardi hi¥her Inconie ii¢lding stock. The ini'cstm¢nt bii¢f Is broadl>' delined but the ethical Criteria prohibit ini'eslm¢ni in comp.?ni¢s thai ittllnufaiture amimenis. AILohol or loba¢co. Despire Ihe continutng pressures on 8lobal markeis ¢aus¢d bv the ¢onflicls itt LTkraii)e and the Nqiddle Easr ro¥eiher ￿'Ith few'er inieiesi rate ¢urs ihali liad b <¢n predicted. linancial markeT5 eonitoiied 10 def¥ ionTr'entioii displil}'iiig a %irung TallN duriiis O?4. again sliothii a modest Illirease it) %'aluL Ilii)iigli did not benefit i-rc?m iliL In4Te?qe in i'alue IhoubTli did not beiietir Ironi Ihe eoiiiinuin8 inireases in htgh risk take based siocks InLom¢ Slrcains has'e al%0 stren8rh¢ned. i liai'L dlreadi- %liiTri%n hugTL ihurt terjn %'cilatilitv tollo￿ltI¥ iaritT in¢iecl.%¢& In the L S but H'e maintJin our belief ThJi the CaTeful dilige17ce lif tsiir itiie%lin¢ni nianager ￿.111 continiTe to allo￿ good Iiing-t¢Tm p¢rf()Imanie froin our portfolios togeth¢r M'irh the ¢ontinu¢d rebiiildinB of inL()me streams. Rl¥k hlanogement The irusiets have assessed the moior risk% 10 which the rhariiv is exposed. ill Particular those relating 10 i15 operations, fiiiaiices and rLry)ularion Apan from the possible failure 10 continue lo aiiraci fuiiding trom members and rhi ￿.￿der ¢onimunii). Ihe siees do not beliei'e there are major fJnan¢ial risks io ii'hiih Ihe charii>' Js exposed. Insurable risks are approprjaiely ¢oi'ered. The irusiees lakt seriouslN' Ili¢ duiies ajid responsTb51i11¢5 placed upon Ihem Mith regard io tli¢ protection ol'vulnerable group$ ProLedures hale betii esiablished ￿7th our ini'estment adkisors 10 produce quaticrlv reports coi'ering i'aluÉllion of iiii'e8unell15 ai)d the iniome therefrom ao thai Ihe ne¢¢ssary steps can bc takei) lo lessen the risks Dundee Par15h Church (St Mydry's) Church of ScotlRnd Trustees, Annual Report (cont) l'ear ended 31 December 2024 Reservej Polley It is the Tn151ees' policy to ini'est ihe bulk of ihe resm-ts to provide in¢ome to meet ￿tUre years. deficit8 w'hich are anticspate to continue. Ai the year end the chureh held unrestricted fvnds of £472,675 of which £172.350 has been desi8JJatrd ro the F&brie Fund, £25,447 to the Organ Fund and £ l.92& to con8regational orgaiiisations and Flower Fund. Tht remainins balance of £?7•.952 is held in General ReseTh'e and General Reserve Fund G, all of u.hjch 1$ ini'ested 90 to pro￿de In¢om¢. The Church also held £1,274,013 of eftdowrnent fund5 4Lnd £134,865 of restri¢¢ed fut)ds *hich been provided for the PUTP05e8 specified in Note 13. STRUCTURE, GOITRNAT*CE AND NL4NAGENIEf*T The congregation i5 & re8i5tered charifv. numb¢r SC002198, and 1$ administered in arcordance w'ith the iern)s of a quoad ornnia constitution and is subject ro the Acts and Regulations of the General A5sembl)' of the Church of S¢otland. membe￿ of ihe Kirk Session are the charity tnJstee5. The Kirk S¢ssion members are the elders of the Church 8nd arc clM)sen from dios¢ members of the Congregation who are eonsidered to hal'e th¢ approprthtc gif¢s Httd skills. The mini51er. who is a member of the Kirk Session, ig eleeted bv The consr¢gatJon and Jndu¢ted bj. Presbytery. The Kirk Session is chaired by th¢ miiiislcr and mLYts ai least four times each vear. It is respojjsible for both the spirinul and t¢mporal affairs of the cortsr¢gation. Addirional meetinss are held when ne¢essAry. Dundee Parish Church (St Marv's) Church of Scotland Trustees. iinnual Reporl (cont) l'ear ended 31 December 2024 Rcfercnce and .Idmini$tratii'e InfnrmAtinn ChAriti. Registration Number: sL-O():1 gb Congreg*tlon Ref¢rence.No'. )yl!)4 Independent Ex#mlner: fvlhlcj Lhdtiered AcLountants Chape15had¢ Hous¢ 78- 84 Bell Stre¢1 Dundee DDI IRQ Bankers: Bank of S£otland Dundet Dundee Parish Church (St Trlary's) Church of Scotland Trustees, Annual Report {cont) Year ended 31 December 2024 Trustees, Responsibilities in Relation to the Arcounts The charit> ink%ters are re5ponsIble for p￿parIng a tnjsltts, annual report and accounis in accordance wlieable la￿? and Lfnited Kingdom Accountin8 Standar¢L8 (v￿lted Kingdom Generally Accepted Atcounting Practice). LaTh' applicable to ¢hanties it) S¢otland requi￿5 the trn5tee8 lo prepare acc'•iiHts eA¢h y¢aT ivhirh .Ehow' 3 true And fJiT view of Ihe state olaffairs of the charifv and of the incoming resources at)d application of resource5. of the charity for thai period. In preparing the aceount5. the tn￿5 are required to.. 5ele¢i suitable ￿cOUnting polici￿ and then appl> them ¢oThsistently' observe tht methods and PTincipks ill the chariry SOP￿. nuke judgments and estimates thai are Tehsonable and prndent: state *thether applicable acci>uDtin8 Standards and s¢aiements of recommended pr&ctice hal'e been follo￿t￿ subj¢¢t to any dcparDJres disclosed and explained in the a¢count5.' and pr¢pate tlte accounts on the going coneern basis unless it is Jnappropnate to ￿esUme that the charity conlinue its activities. The trustres are responssble for ke¢ping accounting Tecords Thhich disc105e ￿1th reasonable a¢curw at any time the financial position of the charii}' and to enablf thetn to ensuTe that the accouni>comply with the cP￿lties and Trusi¢elni'¢stment Isrotlandl .4¢1 2005, the Chanties .4ccounts {Scotlandl Regulation$ 2006 las amended) and the Deed of Conslitulion. Thev are also responslble for 5afeguardIng the asscts of the ¢harity and hence for taking reasoJ)able 5tCP5 for the prevention and de*ction of fr#ud and other irregularittes. -4pproi.ed bv The Tn)siees on ?! ApTfftI 20?.$ and signed on tbeTt behAlf by %f 55ion C-lerk DiindÉie Parish Church {St Ilari 51 C'hurch ot. Scntlund SC 0021911 Report nf the Indcpendcnt Eiaminer oi.-l oji Pai:￿ Y ro ?tTr. JTL 11:15 b: iu.. Basis of indep¢ndcRt tianiiii¢r i %ldteiiient IilJiiail4J￿￿ ￿[￿M Th¢ ItU%lEi) hai e iior InLI. OT .i.'l-..011 ihou?d bi drJiiR ill older rn %lldblc a pruper uiiJ¢r%iaiidiiiLt 01 The &iccoiinti".o L)L I￿aChed. L.hap¢Ish?￿ dt House 1 8_ 84 Bell srreet Dundee DDI IRQ 2R .IiTrril 20) c4 en Dundee Parish Church (St s) Church of Scotland Balance Sheet as at 31 Decejnber 2024 Lnre$trieted Restrlcted Funds 2024 EndthwTnent Funds 2024 Toial F￿Dd5 2D24 PTithr 2024 2023 Flxed As$et5'. Tan¥ible Jssets Ini'esiments ?f,447 48R ?4.447 11,884 1.669.613 1.fi8X.168 Current.4ssel5: Debtors Cash at bank and Jn har io 10 13.981 141.066 .037 1_32.828 16.018 B.48: *47 115 Totol ¢urrtnr 95sets Current Ll*bllitles'. Falliiig due ￿lihit) cine }ear L24 Nei CU￿ent Liabilities..Assei 1.74 864 11.941) ￿ll54 et A$setS 12 472 675 1274 111.1 1.8815x1 1 844 1) Fund5 of the charitv.: I IlTe%rricTed Funds Ciiiieral Fund D15iunaieJ Fiii)d (Iroartisaiioiis 472.674 SV8.246 Re5tri¢ted Fuods 13 114.86) 1:9.798 EndoK"tneut Funds 13 1.)06?78 Total Charftv Funds 88 Thi Iiiiiuiii.i iieT¢ .l[IpfLli-eil b! tht kiTL Sesiioll OD 7 April *0•5 And signed on lis behalf by.. The ntstes on pages 10 to 20 fom) part of thes¢ airounL8 Dundee Parlsh Church (St NlaTh's) Church of S¢otlAnd ote$ formlng part of the Account5 For the vear ended 31 December 2024 Aecountlng Pollcleg The follov4ing accountsnB policies h&￿'t been applied con51Jl¢ntl} in the curreni and precediiig year irt dealin8 with items which are considered materiAI Jn relaiion to ihe charity 5 a¢¢ounts. Bas1$ of prepMr#tlo The accounts hav¢ been prepared in accordanc¢ ￿1th Accountins and Repornng by Chaniies,, Sratement of Recommended Ptacii¢e appli¢able TO charities preparing their a¢¢ounts In aiLordan¢e w'ith the Financial Reportirtg Standards appli¢able in th¢ UK and Rcpiiblic of Ireland IFRS1021 effe¢tii'e l January 7019 and the Fin&ncÈthl Reporting Standard applicable In the UK and Republic of Ireland IFRS1021. the C.haritics and TNsrec Investment IScoil&nd) Aci 2(M)5 and the Ch2ntie$ Accounts (Scorland) Re￿ilaTIonS *(K)6 las amended). The atcounts &re pr¢pared under rhe hi$tori¢&l ¢ts%t ronvention rnodified by the rei'aluation of ini'e31ments and include the results f the C.hurch's operaiiolls, ail of m.hich arc continuing. The acco￿ts are prepared itt sterling. ￿h1¢h is the fvnc1io￿] ¢ll￿￿tY of the charity. Monetar>' amounts in these a¢¢ounL8 are rtsuttded lo the nearest £. Fund gccountlTÈg Fwids are ¢lassified As ¢ither restricted. endowmait or unreslricled fi￿d$, defined as follows.. Re.viricied fund.f 8re fi2nds subject to spe¢ifi¢ r¢quirement5 a5 to their use. which may be declared by the donor or with their authori1> or ¢reat¢d ihrough legal processes, but still ￿'1th]n the wider objects of the eharity. EndoMm*iii are funds gii'en on the condition that the original capital sum is not r¢duc¢d, but that the income therefrom is used for the purpose defined In a¢cordatsce *ith the objeet5 of the charity. L,￿re3¢1'1¢1Ed.fjuIth are expendable &1 the discretion of the t￿￿eeS in hjrtherance of the objects of the ehariry. If p2rts of the unrestriettd funds are earn￿rked at the discreiion of the trustee$ for & particular purpose, they are designated as a Stparaie fund. This desjgnation has an odminisiraii¥'e purpose onl) and does not legally restrici th¢ ttvste¢$' diKretion applv the fvnd. [j￿rne Income is reco￿]Sed when iht ch&rity has the entitlement 10 fvnds. anv perfonnance Conditions auaehed tts the item of incom¢ has bttn rrtet. it is probable that th¢ iTicome w.ill b¢ Iccei*¢d &nd Ihe atnounl can be measiired reliablv. Donations. 8r¢ rttogE)ised w'h¢D the Church has been notifjed in writitl8 of both rhe wnount alld settlement date. In ihe event that a donaiion is subject to conth'tions that reqU￿e a lei'el of perfomiance befote the ¢haiity" 15 entitled 10 th¢ fi]nds, the incorne is deferred and not recognistd uthtil either those conditions ar¢ fvll}' m¢t, or the ￿lfilm¢llt of those ¢onth"tions is wholly withill the control of the charirv and it is probable thai those ¢ondiiion5 will be fvlfilled in the reporting period. Legaey 8ifts are recognised on a ¢8$¢ by ¢Ase basis following eottfimthtion when the athninistraiorlexecutor for the estsEe has ommiinicaied in wriiing both the amount and setileinent dale. In the event that the gift 1$ in the fom) of an #5sel other than cash or a financial a55et traded on a reco8nised stock exchange, re¢ogniiion is subject io the value of ihe 8ift beirtg reliably measurable with a degree of reasonable aCLuf2¢y and th¢ title 10 ihe asset having been transferred to ihe charity. IDierest OD fimds held on deposit is included whetl receivable and the amount can be measured reliably bv ihe chariry., this is noM￿]Y upon notification of the interesi paid or pa}able by the bth. DI￿ldendS Teets8nised orlce the thvidend has been declared and noiifi¢ation has been received of the dividend due. Expense$ Liabilities are r¢cognis¢d as expenditur¢ a5 soon a5 there 15 a le8&1 or constructiv¢ obligation committing the chanty to thai expendinjre, it is probable tbat s¢ttlem¢nt will be required and th¢ amount of the obligation Can be tDeasurcd reliably. All ¢xp¢ndinJre is accounted foT on an accruals basis. Support costs have not been separar¢ly identified as the tNsiees consider there is only otte cbarttable activity- Therefore support cosis rel2te wholly to that acti￿llY and have not been separately identified. 10 Dundee Parlsh Church (St IIary'5) Chureh ofscotland Note$ formlng part of the Accounts Icont} For the l'ear ended 31 December 2024 Acfounilng Poll¢Res Iconii Flxtd Assets The cliarirs. has the ri¥lii to OLiilP) and U*e fnr 114 kharl￿ble obj¢ilS eertiin lan8ible lix¢d asse1%, sncluding the CliurLh. halls and maiise. K'e%ted in C'hurih ot. Sii)tldnd General TrLl%tc¢s. No 4oiisid¢i'alioii is pa)'able for Ihe ufihe4e agsrrg. Expenditiire inciiTf' onl}. has f￿an￿la1 ass¢ls and fjnaniial liabilities of a kind thai qualify basic financial insirunients. Ba$1¢ fijjancial instruments are initiall). recognised at rTllnsaclioT]s I'alu¢ 2nd subs¢qiiL'nil J measured ai their settletnLni Nalue. Crltical 4¢count Èsilmaie5 And Judsemtnts In the application of ihe ch2TitV S 2¢COUZLting poltcies, the ttustees trc required lo m2ke judgeinents. estimatcs alld assiimption5 abour the carrying amvun¢ of ass¢is and liabiliries that are not readllv apparent from orhtr sources. The ¢Sttmates and associated assuniplions are based on ht4iorical experience dnd other factors that are considered to k releiallt. Actual re%ults maN diff¢r fro7￿ these estimates. The esiiin&ies an(] underljing assuinplions are revi%ed on an ongoing basis. Rei'isions to Ihe acLouniing esiimatei are recognised in th¢ ptriod iii ￿.IL1Lh ihe esriinate is t¢V15cd i¥'liere the r¢kision affeeis on thai period or in thL PCTiod of the revisiun and fiiture Periods where the rei-ision affects both the current and hture periods. In prepyring these accounts. Ihe truste¢s hai'e made thc following Judoements.. DepretiaiRon Tangible fix¢d asset% are depreciared oi'¢r a period to rellect their estimated usetiil life. The appliLabiliry ot'the a55umed lii'e$ Is rel'ie￿¢￿ annuail>'. iaki118 inio account factors such as physJ¢al condition. maintenanie at]d obsolescenLe. Accrua15 Accjuais are applied al the year end based upoii fioancial ¢osts Incu￿ed post year end and the experience ()f the Irusi¢es. i* iry r Il e4 rq Y t41rJ I p41 tr4 *￿x￿- Q rP4 Dundee Parish Church (St Ilari's) c.hurch of Scotland otes forming part of Ihe Accounts (cont) For the i'eAr ended 31 December 2024 6. StAff ¢(b$tS And number$ 2024 2023 Salaries and i￿.a￿¢S S¢ll'einplo}¢d organisi S(xial S¢¥ufin' CO$ls -1.190 9.02 1.00 9.0:0 The ai'era¥¢ nuinber of emplo)'ees diiriny the }'¢ar ￿.￿S as follow￿.. Numb¢r Number C-hureh Officer Ni) emplol'ee ha$ ¢inplnNee benefits ijj ex¢¢$s of £C4>.000 I?Q21 _ Njli. -411 L'hiirch of Sio11￿nd ii)ll8regaiicins coninbiite to the NIltIL)niil Stipend Fund whilli b¢ars the LOST of all niinisrers, stJpcnd$ and emploier'% cojiiribviions for naii(In.il insuranLe. pcnsion ond housing dnd lo￿ fijnd Ilinisieis. stipends ar¢ paid in aLLardan¢L ii'iih the njiional Sil￿nd sc￿lIe. M'hich Js r¢latLd 10 v¢ars of s¢Tr'lCi. For ihe }'Lar under ril'l¢ll' the mlnimum slipend was £31.64? and the m￿lMIlIn Siipe2)d iin the fifth and subsequ¢rtt N"eaTsI £78.884. 7. Trustee Remunerthttoll und Rel8ied Parti TransacflihN4 Diiring the l'ear. minisierJJl reiihburs¢ment4 of eXPill%e.%. ioialliii¥ L9.•1)? 1?fi2? £9,092 I ￿'£re paid and thc luin of 199 12fl?A £1 I IY) P4iid fi)r the In￿Inse rouncil ia¥ aiid rates. No injytec or persdn related ID a Inibiie had ans, personal IniifL5t in .Inv LOt)tiait or transairion eniLI"Ld inti) hi the Lharitv dunng the JeaT. No irusre¢ r¢xeiKed an￿ remunLraiion di￿n8 the vear. During the Year a lolal of £1 1.930 {10:3 £10,96.?I wa8 do]Vdted ro the congregation by trn%iee$. 8. Flxeil #s$et5 Ch￿reh Orxart Co$1 As ai l January 2024 Additions 31 Decemkn. )0•4 Ac¢umuiat¢d depreciation At l January. 20,4 Char¥e for }'ear Ar 31 Dteember 2024 84,814 50.886 8.481 59.367 Nei Book l-Alue 31 D¢'cember •024 -31 DeiembeT •D23 Fi.xed asscts ill th¢ prLQT J'ear M¢re Ll3.9?8. all of w.hich u'ere unrestncted. 15 Dundee P*ri5h Church (St Lllar) $) Church of Scotland Notes forming part of the Aeeount5 {cont) For the ve*r ended 31 December 2024 8. Flxed i$iets 2023 cornparatlves Church Org411 Cost As ai l January 2023 Addiiions 31 DeLembeT 2021 AttumulAt¢d depr¢clgtlon At l Januer). 2D?3 ChArge for year Ar 31 December 2023 84,814 42.405 Net Book N'21u* -1 l DeL¢mb¢T 2023 JI Dccembei 2022 9. Inv¢ytment$ 2024 2023 Fair i'alue ai 31 December 2023 Acquisitions,{disposAI_%i irt Kear Unrealised glin .' {lossl oti invesmienrs Fair value at 31 December 2024 1,554,240 225.802 115 876 1.491.050 118,330 1554.240 Investrn¢nts at cost 40 The follow'ing investjnents in excess of 50/9 of the ponfolio vftlue held.. 2,575 Ishare Cor¢ S&P 500 UCITS £121.2¥3 £73,855 Fair i'alue of invesllnents in the prior year was £1,554.240 of ￿'hich £456.354 wos unresiri¢ted and £1.097,886 was held in endowment ful￿$. 10. Current Asieti 2024 2023 Debtors Income tax recoverable Other debtors Dividend income re¢¢ivable 10.262 5.140 195 DebtOT$ in the prior year were £8,482 of which £6.968 was unrestricted and £1 £14 was restricted. C*$h ¥4t Bank Cash ar bank and In hand in prior year w&s £257.115 of which £20,439 was unrestricted, £128284 was r¢ytri¢ted and £108,392 wag held in endow'ment fvnds. 16 Dundee Parish Church (St Ilari's) Church ofscolland otes forming part of the Accounts (contl For the i'e*r ended 31 December 2024 I l. Creditor 2024 2023 A¢¢Tual Creditors in ihe prior ieaT Ii'eTe £9,44? all of ￿'hIlh ￿tre unrebiriiied. 12. AnAhryl$ of Net As$ets ?mong funds Ilnre5trl's) Church of Scotland Notes forming part of the Accounts (cont) For ihe veAr ended 31 December 2024 13. .110￿¢MellI5 in Funds (¢ontl Purposeg of Emdowment Funds Tpusi FuNd D.. legaci¢s ini'ested io proi'ide income is used to make di8¢ributions to ihe less well-off, sick and di$abied. and io assist in outreacli, Jouth work and Ihe Suiid#y School. Trwsi Fwiid T. legacies iniested to proi'ide income one half for general purposes and oiie half as the Kirk Sesiiort thinks fit bui with some regard to assisiin8 any sick, paoror gentlewomett of the professioE)al cl&sses io be $elected b> the Kirk Session Pyrp05e5 of Restrl¢ted Funds Tr4s1 FuNd M.. this thnd was established following receipi of a legacy In 2006. The fullds to be used for the purpose of purchosing music for the choir of Dundt¢ Parish Church (St Mari sl. Trus1 FMndD.. funds to be us¢d io make disthbutions to the les5 w'ell-off, sick and disabled, &nd to as818t In outrcach. youth ork wid the Suiiday School. rrusi FundA - Admiral Dutf.. funds io be used for scripwre readeTS. Tru51 T.. funds io beused as the Kirk S¢ssion ihinks fir bUt￿.1th gome reg&rd to #9$È8ring All!, sick. pwror 8¢ntl¢women of the professiojial class¢s to be sele¢i¢d by the KiTk SesslOII. Pyrpn*e% of Deilgn8ted Funds GehepRI Reserve Fund T.. funds io b¢ us¢d for g￿er81 purpo5CS. Gtnernl Restrve Furtd G.. monies in this fund have beett set aside over the years and are available for any pyrpose as the Kirk Session inight decide. Resefft F*hdE,. to b¢ used for the improi'em¢Dt 8nd or maiiitemance of of the congregation's prop¢rties. AwBe JHRor GMildFMndJ.' capital held on behalf of the fomier St Mary's GuLId. Flower Fumd.. kiailable TO agssst in the proiiwon of flowers for the sarlctuary. Orgfflii Fund.. Ihis represent the balance of lapital ¢xpeE)diture less depreciiiion-to-date the orgaD purch&sedusin8 restri¢t¢d ds and will coi'er the d¢pr¢ciation on these asset$ oi-er the remaiiider of their expected us¢ful life. Co]Aee Bor. funds Taised by ihe weekls. rea￿cOfftts to suppon Church aciji'iiies. WedhtsdA& Cl￿￿ funds Taised by the IVedne5day Club for its own pU￿oSeS. Fmnd Transfer8 The annual deficit on 8¢neTal fund is met by transfer from General Re5cTh'e Futkd T and General Resm'e Fund G. 14. Volunt¢e In common u'iih all con8re8aiions of the Church of Scotland the congregation beiiefits froni the contribution made bv yolunteets who ¥i￿C their time and talents ￿'111)ng]1' for the b¢nefit of The Church. The are¥s of con8re8ational lif¢ ￿'hICh rel> on the contributions of I￿]UnteerS are many and varied at)d much of the activity would noi be able to continue were it Dot for the cominiimeni shO￿.n. 15, Collectiot15 for Thlrd Pirtleg 2024 2023 The folloM'inB 1￿coMe from Spe¢iAI CollEftions ￿a5 received and disbursed during the year." CHAS Poppy Scotland 1.213 25 40 40 16. Fln#nclal Instrurnent$ 2024 2023 Cgrrylng of flnantlal assets Financial asse15 measured ai fair N'alue through Statejnent of Finan¢ial Ac¢iN'ilies 1 644 166 IS5424 Financthl &ssets measured at fair value ihrou8h the stsiem¢nr of financial &ctivitirs comprise of li5tcd and unlisted mvestments. 20