Forfar All Souls Church of Scotland TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER2024 Congregation No: a01081 Scottlsh Charlty No: SC (Kll417 Forfar All Souls Churth of Scotland Reference and Admlnistrative Informallon Year ended 31 December 2024 * The5eTru5tee5lOffice gEarer5 were members ofthe se5s￿s of AberIernr￿ Parfsh Church or D￿nIchen Letham & Klrkden Parffjh Church or F(rfar 5t Mor4aret's Parish Churth orGuthrie & Re5cobie Parish Church belore the Union and bEcame Trusttesloffite 6•arws of Ftsrfar Souls C￿rrh Df Scotland at thedate of Ur*>n. ThE follpwlng retlred a5 trustee5 durk¥ the p¥lryJ a￿1 Forf¥AI Sou151s most gratefvl th*support and cOnt￿￿10Th as 7rustee5 Forfx All Souls Ls pa￿o￿arty1 sad to reuyd tho dea￿ of thè fo*MlnR tru￿•e5 dur1￿ thÈ peflod:. Forfar All Souls Churth of Scotland Reference and Administrative Infomiatk)n (mntl Year ended 31 December 2024 Pthclpal Offl¢frb•x•r5 Moderatr.. Sesslon Clets: Flnancg Con¥•nof - Prkn¢W omre I jan￿•S[M Str4•t Forfar 008 2HY ch•rlty No: SOJJ1417 Indep￿dent E¥•rnlrnr EQAc¢ountants Llmited 64 West Hi8h Street Forfar DD8 IBJ Bank•rs Bank of Scotland 72 West HiBh s￿et Forfar DD8 laG ForfarAII Sauls Church of Scotland Trusteeg Report Year ended 31 December 2024 The trnsteEs prestnt thelr anNal report or¥J finorKial 5tatwnents of the thwity fry the year ended 31 December 20Z4. The Ilnanclal 5taternent5 have been weparEd In accOrda￿t wtih the accO￿tIn8 pollde5 set wt on pa¥e 11 of ihe accourts aNI coryty t*lth the Genewal Assembly Re8d3t1￿5 lor con8rwi¢￿al Financ•. th* Charits and Trust*8 Invo5Dnoni (ScothTrll Art 21J)5. the Charities Accounts lkndandl Rwlations 2CI56 (as amendedl •TrJ Accoumlw RepDrtln8 by Charitles.. Statement of Recommended PArtitE aP￿iCa￿de to tharitie5 pfEpariry their accounts in arcowdanre wilh Finanoal Reportln& StandaTd ￿￿kable In the UK arwj Rewbk uf Irel¥￿ effecuve from l January 2019. oblett￿￿ and Act1¥ The Church ofscotland is Trinlt3ri3n in doctrlne, Reforrned in traditlrffl and F*e5Wn ￿ pdlty. It e%15tstO 810rffy God and to work for the advancement of Ovlsvs KIn￿oM throu8hout the wortd. As a natlonal Church, It ack1v￿Qd80S • dlstlnctlvo call nd duty to bri￿ the orthn￿e5 of rEl[8￿￿ to the peorAE in ewy parish of kn*laDd th1v￿1 a twritryial rrrini5try. It ro" operate5 wlth othEr Churche5 In Y￿50U5 etumEnka bodtes ID 5cotknd Ixyry¥l. Locally w• alm to I￿￿Ul• ow splrRwality. m&*ir* wywshlp aC￿$s￿lIe and UrthrSt￿dlb1e. and to work alDryldè others to makE our local cornrnunity a bEtter plxe to The cCryreW￿rt rb3w opeote5 frryn 3 Chwth worsw ￿ntr￿& rurolly at the Aberlemno bulldin& at the Churth In Lethwt) ¥i1118e arnl frorn the lowk￿ meD￿nI1 buildlrKg in Frvfar. We also rent commerclal premlses In the he*( of Forfar tts have a central presen￿. Worship serv￿ and actrvities take Pl￿ in all 4 ¥èThues. as well as studies. tjppMUntrt￿ for wayer, drop in fadlitie4 youp a(ti¥itie5, thildren'5 actNities. toddler groups and youth dubs, craft groLV lurKh dubs. For those who ￿nOt att￿￿ ￿ a Sunday. we haw a varlety of ahematfvqs rnldweek and oralne. Our many rA8anWSorn s￿h as the Men's Fellmhlp. the &lld. the h¢￿e groups and drop Ins. along wlth Dur Sunday School and Mtssy Churth. ertsure that there are aclmlles avai13ble rn all age ran8e& WE have a strong corrwwnlty loa45. runnlrvl a 5thoul unllorni wviecL 4 food proJertaNJ free iwklart Club thrN¥hwt the 51hoal holldoy5. We ￿ve worked hwo to maint¥ln an xti¥e ¥wrshIppl￿ yesence in both the wrnl commuraty and the towD ol Forf•r. We are seeln8 over 200 people attendln8 SI￿ lorrn of worship e4*ry wgrtk betwq•n IQO and 150 youn8 people. todd1[t￿ to teens. Along wilh the re8ular W¢fshlp actrltbes. our lunch clubs and tosy CUP￿￿$ over iiKI attÈnders on a weekty basl We have also hekl manysocial and ¢omrnynity events that been verypopular wel atteTh*d. Hbwiclal Rwlew A5 wa5 the case in all the constituent churthe5 prior to the unlon ow source of income166,S%l continues to be fn>m regular offerlw by way of 5tandlnK order and FWO stheme. both and wlthDUt lift ald ltsx recovered on Rlft aid arnDunted to 12.5%]. The balance ol our income comes frcth tharftable athl other whith irKlude h&4 1Èty fundrdlsing and our tharity5hop. There has been an overoll drop In Inco￿ of ap1￿X 9%. with ow recularoffthry drywn th15 17.1* p•rt5alfy offset by an IrKre&e In IrKome fIC￿ our thafftiblo aThJ actbAll￿14S.9%). Forfar All Souls Churth of Scodand Trustees. Report (cont) Year ended 31 December 2024 C05t iTrcrea5es contlnue to be a major Con￿rn. espttlally ènwgy an Iv4erall kKrea5e of approx Il% and also on 8olng property maInt￿alKe aysts of our listed bll4th￿. The tru51ees are wNare of the financi31 position. Our rttds were provlded kst year ¥)d we wil (l￿￿Ue to io forward In faith the¥y￿11 a£aln be pro￿ded In 2025 whl&t having to dlp intoourresewves to rnatntaln our bulklkn85. Aslde from rrtalnlng a prudent arn(Murt in reseThes eath year ￿K￿ of the thwitrfs fund5 afE Jpent * thEre we fuThJ5 for lung te￿ inve5trnenL Havlns consldered the opuons a¥￿lab￿. the Fhmnce CgrrnnlitEe intend5 to carry llut a of It5 Investynent polldes kn the Ilnandal I￿r. R15k Manaymert The prfnclpal causes for concern are Incoas1￿ c¢)sts and ￿￿9350n6 INomq alowd w6th ￿ ag•tr4 congrngatlon, r￿lting . our havin8 to use reserves. Efforts to relleve the po￿1￿ arE bEWW urthrtaken Ixth in conlrd&¥ costs where p05yble focth w trying to Iruea5e membèrs, iiwn¢ throv4h a stewardship campat8n kn thE Autwnn of 2025. ThLs m* ur#dertaWnB lo enhance members, flnanclal c¢)rtrfbut(ons IM￿￿ent in thwth attpd1t￿S Is almed at "GIVI￿ to GrNt' cornrniiment central fvnd fte5erns Polry The trusiees havE (D￿dered th2 re5er¥e5 required and tsken into a£￿Trt their current and futtsro liablltle5. It is tho trustees. Policy to hold re5efvE5 of appriTrMknatety 9 months. eX￿d1Djre Incl￿￿* deWated funds. At the year end the Church held unrestricted of £440.S23, whth represents 12 month5, expenditure aw¥J whle this 15 higher than would ncrfmalty be exFected the Trustees are aware of the need to m3intalTr thE stsndard and DF the bL+Alln85 within their contrd and responsiknlty. and their mbs¥lon 10 8rw their thunh. The chulth 3150 held £274364 olwestrKted fvnds whKh ha¥e been provA1td for the purposes spedf*d in Note 16. Slrudure. Gown1n￿ Jnd M•MI•w The con8re8atlon Is a Te8lstered charlty. number Sc￿2417 and is admtnlstered In acCOrda￿e with the tern5 of the Deed of Constitutkjn Iunitary FO￿￿> and 15 5ubjertto Acts and Wuktior6 oftt* Generl AssembPsf ofthe Church of Scotland. Members ol the KI￿ Sesdon ¥e the chartty intstee5. The Kirk Swion mernbers ue the elders of the thurth and ar? chose from those members of the ¢hurth who ire considered to the appropriaie lifts and skilL5. The mln15ters. who are member5 of ihe Kyk Sewory are ekned ty the conyoption and Pres￿ery. Certakn responsibikles are delegated to the Flnance Corn￿ttee and the Properry Cormth as approykt& ￿rk ¥A)Ith meets slx tlmes v•ar is responsi￿¢ for 4x(i￿￿ affair5 ￿thIn the Cl￿th. Forfar All Souls Church of Scotland Trustees. Report (cont) Year ended 31 Decernber 2024 nion During ihe current fin•Mal par a rnStr￿8 look ￿a¢* a basls •1 Unl¢M be￿￿en the foknwSr* tongfteations (all Incorpjrated Scottish charftles).. 14arne5 of combSnln ch¥St*s Aberlemno Parish Church Dunnthen Letham & Klrkden Path Clwjrch Guthrle & Rescoble Parfsh Churth Forfar. St Ma￿are1$ Parth Chwth Fvrtar LDv45un Memorial Parth Clyjrch Jmbv sco￿944 SCth13833 5C017327 sc rA)i SCL))2417 Please note F¢)rfJr Lowson Memorial ￿riSh of Scothr#J iq the (c￿￿ Mrne ol this thwbty whlch since the d•te of Unlon has teen known as'Forfar All Souls Chuith of S￿￿and.. The basls of Unkm of these congregailons wa5 approved by the Offl¢e of5cottish Ch¥ity Re8uL3tor IOSCRI the Churth d Scotknd Iparent thwlty- SC0113531 an efftttive Union Imeryerl date ¢f IstApril 202Q As thi5 Union was a meryer of the conBregaty'ons ints we continuiw cu￿re￿ation the merger method of accoufitinz was thmed apwoptht& Thts ffejns the NNndal srthfrthts show the curreni Jnd comparnrlve f*ures as Ifthe ent1￿ have bEen the corn￿ thr(wthtyJtthuse periuds. N¢>te 17 to 19 of the finarKial xatements wo¥hks fwther deialls of ihe prE￿er1er ar￿ post rTffjEr Stzternent of Flnanclal Actfvtties ISOFAI IDrnPDnEnts a5 wdl as Thet assets at the date of rnefgerwhich make up the comtslned l*ur&s dEtsI￿d in these fmancial statements. Forfar All Souls Clwrch of Sc(rtland Trustees, Report (cont) Year ended 31 Dec•rnber 2024 Trusts•< A•4wndbllltlEsiTh the Fkn•wl•l Statements Th? charlty trustees ore re5ponsl>le for prep¥hw a trusthg< anrwal and finat%Jal stat#nents In accordan￿ wlih applIcal￿e la¥ and UThlted Klrvddom Accountlry Stand￿th (United G￿er￿l￿t￿l￿ Accountjnx Practkel. The law ￿P￿1(able to charW*5 In knlland reqwe5 the th•ity tntstee5 to preparq ffinan¢ial stat•ments for Èach year whiih shDW a true and fair view ofthe state of affalrs ofthe t*￿rity and ofthe and ey4)ertdiiure tsf thethartty for that perlod. In prEparini t￿ finandal staterneTrts. the trustee$4re required to: - select Sulta￿& accountln8 p&kl•s and ihw apptythEm consi5tendy. - obsepée the method piincl*s In the ap￿Thble chai￿ SORP: - rnakejUd8eff￿ntS and estimotes that a￿ prtht," - stat• wh4th•r appllcabl• acco￿[[nO standanls and thiements of rocthnffl￿ prxike ha¥E be?n lolkTh¥ed. sthlert to arby departures dls£105ed and explalned in the fbNncialsMQrn•fflS: - prepare the financSal stst•nents on the concem basts unlE5S It Is Inapwopriatt tp p￿Sume that the C￿rity (ontsnue in operat1r￿leXI5tenCe. Th• trustets are responsible For keepln8 at*quate re¢LYds thèt Ire suff*iEnt to 5h(M eX￿aIn the chariV5 tran5Jclions arKI dts(10se re350nable accwary at any lome the finanda (#￿titsn of the charfty and to enable them to eTrW￿ that the finandal ststements comply with tht Chaiitiès and Tnth In¥e5tment {Scotlar￿) Act I(￿15 and charitle5 Accounts15cotlandl Re8ulaUons 2006 la5 3mErthl. They orE *0 res￿ble for saye8uard1￿ the a55gYs d thq chartty and heTKe for taking reasonable Steps for the prevention and dete￿#￿ of fraud athl other irreDdaritfjes. The tIU5tees are Tesponslbk for thg maknt•naYKe and Int•8rfty of thè tharty and finandal Inform3tiDn on the con8re83tion's bsite. Le8i51ation in the Unlted the weparaiim and dlssemlnJtfon of flnarKlal slatermnts may dttfer from leR151atlon in Otherlur￿lC1IDrts. Appro￿ed by ihp T'urtees and signod oi thdr behalf Forfar All Souls Church of Scotland Independent Examinerfs Report to the Trustee5 of Forfar All Sou15 Church of Scotland Year ended 31 December 2024 I report on the Kcounts of the chartty for the year ended 31 December 2024 which are set out on paEes 9 to 26. Respective re¥¥onsibilities of trustses and examiner The tharfty's trustees ère responsible for the preparation of the accounts in accordance with the terms of the Charltles and Trnstee Investment (Scotland) Art 2005 and the Charities Accounts (sCo￿and} Regulatlons 200613s amEnded). The charlty tn15tee5 consider that the audit requirernent of ftegulalion 10(11 lal to Ic) of the Axcounts Regulation5 doe5 not ¥pply. It is my responsibility to examine the accounts as required urKier section Mlll (c) Df the Act ar￿ to state ￿ether particular matters have come to my attention. Basls of 5ndependent eMamlne¢s statement My examination is carried out In accordarbce wlth Regulatlon 11 of the Charlties Accounts 15cotlandl Regulations 2IJ06 (as amended). An examlnation indudes a revlew of the acEcunting record5 kept by the charity and a cornparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures In the accounts, and seeks explanations from the trustees concerni￿ any such matters. The procedures undertaken do not provide all the evidence that would be required in an audlt, and consequently I do not expTess an audlt opIn￿n on the view given by the accoun Independent examlnerfs statement In the course of my examlnation. no matter has come to my attentlon which Elves me reasonable cause to believe that in any rnateiial re5PPCt the requirernent5- - to keep accounting records in accordance with Section 4411) (al of the 2rx)5 Art and Regulation 4 of the ZQ06 Accounts Regulatlons las amendedl. and - to prepare accounts which accord wlth the accountlng records and comply with Regulation 8 of the 2LK16 Accounts Re8ulattons las amended) have not been met or to whlch, In my oplnion. attention should be drawn in order to enable a pr(yer undEf5tanding of the accounts to be re?ched. ForfarAII Souls Churth ¢rfScotland Stat4rn4nt of Flnanclal Activllies Incwie and eXpw￿l1￿l a(￿￿11 Year ended 31 December 2024 iazj Ormtkni•Th¥l•i•g W74 95 169 32J91 163.JB7 IIY7 ZlCgJ ¥437 9￿0 Iq551 aoA77 Othwtrndlrrfattmues IrA*Stments 3JSi W39 050 17.1 10.735 IL947 L5 Il515 22.987 79.217 3U17S RaI￿r(lundS LO 261 iJo> 7V 741 170JJY 338996 3ts,7 7LQ71 151 I71￿15 340,299 16Q8 &146 745 SL710 J2 11 9J12 41.151 146 ioj 4L151 454M4 71W7 423. 15 1?8.721 If￿rari￿d r4M vj Forfar All Souls Church of Scotland Accountlng Pollcles Year ended 31 December 2024 The prlncipal accountlng pollcies whlch have been applied consistently in the current and preceding year in dealine wlth iterns which are considered material to the accounts. are set out below. Basls of preparation The financial statements have been prepared in accordance wlth Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FR5102) effectfve from l January 2019 and the Financlal Reporting Standard appllcable in the UK and Republic of Ireland (FRSIO21, the Charities and Trustee Investment {Scotland) Act 2005 and the Charities accounts {Scotlandl Regulations 2006 (as amendedl. The charity con5titute5 a public benefft entity as defined by FRS 102. Assets and liabilities are initially recognised at histortc C05t or transactlon value unless otherwise stated in the relevant accounting policy note{sl. Merger accountlng ha5 been applied to Aberlemno Parish Churth, Dunnichen Letham ènd Kirkden Parish Church. Forfar Lowson Mernorial Parish Churth. FDrfar St MarBaret's Parish Church and Guthrie & Rescobie Parish Church which were United into Forfar All Sou15 Church of Scotland {fomierly called Forfar Lowson Memorial Parish Churth before date of Union). The basis of Union of these congre8atlons was approved by the Office of Scottlsh Charlty Regulator {05CR) and the Church of Scotland {parent charity - 5C011353) wlth an effectlve Unlon date of l Aprll 2024. The merger method of zccountlng has been applied to these financlal statements as If the entities had alway5 been combined. The accounting policies of Aberlemno Parish Churth, Dunnithen Letharn and Kirkden Parish Churth. Forfar Lowson Memorial Parish Church, Forfar St Margaret's Parish Church and Guthrie & Rescobie Parish Church were previously aligned and consequentty there has been no need to modify any existing accounting policies in consolidating the United con8re8ation, other than restating from receipts and payments basis as appropriate Golng concern The Trustees consider that there are no material uncertaintles about the ability of the charity to continue for the foreseeable future. and therefore ha5 adopted the goin8 con￿rn ba515 in preparing these financial statement5. li Forfar All Souls Churth of Scotland Accounting Poliaes (continued) Year ended 31 December 2024 Fund accountln Fund5 are classified a5 either restricted funds or unrestricted fund5, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Endowrnent funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordan with the objects of the charity. Unrestrltted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted fund5 are earrnarked at the discretion of the trustee5 for a partlcular purpose, they are designated as a separate fund. This deslgnatlon has an administrative purpose only and does not legally restritt the trustees, discretion to applythe fund. Recognition of Income Income is recognised when the charfty has entitlement to the fund5. any performance conditlons attached to the Itern(sl of income have been Met. it is probable that the intome will be received and the amount can be measured reliably. Donated service5 and facifities Donated prOfeS￿onal services and donated facilltles are recognised as income when the charity has control over the item. any conditions assoaated with the donated item have been met. the re￿ipt of economic benefit from the use by the charity of the itpm 15 probable and that economic benefit can be rneasured reliably. In accordance with the Charlties SORP {FRS1021 the general volunteer time of congregation members is not recognised. On receipt, donated professional services and donated facilities are recognised on the basls of the value of the gift to the charity which is the amount the charity would have been vjilling to pay to obtain services or faalttles of equivalent economic benefrt on the open rnarket: correspondin8 amount is then recogni5ed a5 expenditure in the period of receipt. Interest receivable Interest on funds held on deposit is included when ￿(eIVable and the arnount can be measured rellably by the charlty; thls ts normally upon notification of the interest paid or payable bythe Bank. Forfar All Souls Church of Scotland Accounting Pollcles (contSnued) Year ended 31 December 2024 Recognftlon and allocation of expendityre Expenditure is induded in the Slatement of Finanaal Artivities on an accruals ba515 and 15 recognised when there is a legal or constructfve obIl￿tIon to pay for expendlture. Fixed Assets The charity has the right to occupy and use for its charitable oblects certaln tanglble fixed assets, including the Church, halls and manse, vested in the Church of Scotland General Tru5tee5 (Aberlernno Parlsh Church. Dunnlchen Letham and Klrkden Parish Churdi. Guthrle & Rescobie Parlsh Church. and Forfar Lowson Memorial Parish Churthl. 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 Activitie5 in the period in which the liability arise5. The thurch indudin8 Halls and the Manse are vested In the name of the Charity (Forfar St Margaret's Parlsh Chtsrch). The properties a￿ carrled at deemed cosl other than the thurch bulldlng whlchls a Ilsted herltage property and has not been brought into the accounts due to the dlfflculty in obtaining a valuation on a continuing use basis. The propertie5 are not depreciated as the residual value is considered to be in ex￿$$ of the carrying value. All tsngible fixed assets costin8 in ex￿55 of £l,IxKI having a value to the charity greater than one year, other than those acquired for speclfic purposes. are capitalised. Depreciation is provided on a straight-llne basis to write off the c05t or initial value, le55 residual value, of tanglble flxed assets over their estimated useful INes: Computer Equipment Fixtures & Fittings Plant & Machinery Other A55ets 3 year5 5 years 5 years S years 5 years Motor vehlcles Inveslments Fixed asset Investrnents are stated at market value at the balance sheet date. Unreali5ed gain5 and10sses represent the dlfference between the market value at the beginning and end of the financlal year or. If purchased in the year. the difference between cost and market value at the end of the year. Realised gains and105ses represent the difference between the proceEd5 on disposal and the market value at the start of the year or cost ff purchased in the year. Forfar All Souls Church of Scotland Accountlng Pollcles (continued) Year ended 31 December 2024 Taxation Forfar All Souls Church af Scotland Is recognised as a charity for the purpose5 of applicable taxation leglslation and is therefore not subject to taxation on its tharitable artivitie5. The charity is nat re8iStered for VAT and expenditu￿ therefore include irrecoverable input VAT. Cash and cash equhrnlents Cash and cash equivalents include cash in hand and deposits held at Bank Df Scotland and with the Investors Trust. Debtors Trade and other debtor5 are recognised at the settlement amount due after any dlscount offered. Prepayments are valued at the amount prepaid net of any discount5 due. Creditor5 Creditors are norrnally recognised at their settlement amount after allowlng for any trade discounts due. 14 ForfarAII Souls Churth of Scotland Notes to the financial 5tatementS Year ended 31 December 2024 Unre Ae- En(k*w- ment Comblned Fund5 Total 2023 F￿d$ 2024 Fund5 Total 2024 Funds 2023 L Donatlons and l•1 Offerings Tax recovered l(knAidl le8acies Donadons GI￿￿8 Day tharltablo Contrfbut other 153.739 37.942 824 .$63 162340 41,n7 44,170 4.092 1093 10,500 10.996 166A32 46263 15,500 19.865 1.460 1500 8.224 3.827 Z.169 10,393 3,827 L50D 57 li 95 391 163 187 Weddlng5 and Funerals 1>8anlsations Concvts & qvwis 5.222 137 20.166 5.359 21,369 3.475 250 18.927 3.725 19336 Incorne from other tradtw adl¥ltl•s Rent Received fmrn Property.. Hall Lets Manse Lets Chartty Shop 3.552 7A82 11.434 3.215 5,209 7X)I 5.209 167 IL Investment Inwme Dlvidends recel¥ed Bank interest 14.334 3.697 18.031 16.265 918 2.613 39 17.222 3,513 39 5. Oth•r Incom• Recelpts fmm Gerheral Tr￿Ste¢S 637 637 Other VAT Recovered Grants 2.466 14,311 167 270 93 14.581 51U SC Forfar All Souls Church of Scotland Notes to the finanaal statements Icontinued) Year ended 31 December 2024 Unr ¢t•d Jtri¢ted Comblfved strknl strlcted mert Comblmd F￿d$ Fw F￿d$ Totsl Fund5 F￿dS Total 2024 2014 2023 20 6. Analtols af Expend1￿* Investment Man¥erfs F Fund Ralslr¥4 Expenses offeth8 Enlrtlopes 169 261 43D 250 986 236 317 261 67 303 Charltable Actlvltles Giv#)8 to Grow Corrtrib< 147.698 EndowmEnt Incpme 13,1371 Vacaw Allowance 11.196) Tran51tlon AllrA¥arKe Presbytery t*Jes MlnSsterfs Expenses Manse e￿nseS Pulplt 5upplv Locvms, SaL4ry LoThms' Costs o￿an[St Fees Other salary costs Lease Costs Fabrlc Repalrs & Malnte Heat and Light Insuran Councll Tax CleanlnE Printin& postage and rt Photocopiqr Charges Offtach Costs Payroll Costs ITCosts HSE Costs oar￿ Charge5 ComrnunKation Costs Newsletter e¥pen5es AttthJntsncy fees Ovgan & Music Donation5 to other thar Flowers Other Expense3 Depreci•tion Chwty Shop E¥pen5es Church Organisations 147.698 14L052 13.137 13.1711 1111961 111,1961 13JJ501 3.959 1116 9.104 1645 75 2a5 2.IL 25.357 141052 13.1711 111.1961 13.0501 5,781 L219 34,488 L259 5.781 1.219 42An 1259 2.116 1875 285 520 21,05Z 520 32,f 11,553 5.850 35 34,342 19,709 36,825 22,692 5.189 3,238 1286 1039 416 28 1.611 579 56 28.849 24,(N19 19.708 iiio 3.112 8241 7￿5 37. 3LO54 20.598 2.110 3.S07 6,048 1471 7,817 6.123 928 42.948 23.620 614 381 3.851 2.667 2.042 6.039 41 2.097 39S 168 Sfi23 7A17 13 io 231 143 1.168 108 1,178 339 80 828 2,698 1358 L624 490 547 I7￿34 5.470 1051 23 i.OS3 2.078 3.734 2.654 828 1691 13S8 74Z 490 2,078 3,734 590 240 547 15.475 2.313 2.051 2.627 2.627 5.327 5.838 2.359 3.157 5.838 li 39 769 270 Totsl Support costs have noi been separately klentified as th& tntstW5 consld*r thqT• Is onty one Eharitabl• actNIty. Ther•fore sUPPOrt CQSts relate wh(Aly to th* acti¥ity and have rrt SepardtÉ￿ identified. Forfar All Souls thurch of Scotland Notes to the financial statements Icontlnuedl Year ended 31 December 2024 20 7. StAtrfosts Ind numbers 31166 94 345 31(A)5 34.342 Social 5WJTity ¢OSts Tot81 34J42 The avera8e nuwberof en¥loy¢¢s (kn￿ the )vrw45 4$ followT: Nrnber Nwmber Mimi￿er1d1 support Administsation ￿￿81¢ staff Outrrach D¢vclopllKn¢ Sts Premisas n￿IllieD￿Ce No employee had eD)ploJtt benefiLS ITh ¢x¢¢ss of £5WO12023 ￿11) All Church of S¢otlJThl ¢onth￿Ie to the NwionBI Siipend Fund whidi ljears the LYXLS Dr￿1 rnini5ter5' stipends and employ&$ contributiom fDr ￿tionaL insurw. pEnsi(qk aDd bJu5ing •lld loan fund. Mioistus, stipends are paid in accardll￿e with th¢ national slipend whith is rtl•ted ￿ pr5 of5efvicE. For the )rar wndcr ￿l¢W the minimwn stipend w45 £31,642 and the m￿lM￿￿ (in the t￿th and subsequeni y¢￿s) £38.¥84. . TThstee RemvnErad•n Rel•ted PArty Tr•nJ•etloas Dunn the ear M'o tnJ51eus ieceil'ed reimlMw5e￿ ofexpen5es I[￿ iotaliin8 £6.97712023 £4326). In Adth'tio ]KS Wete of the Kirk Se55ion ￿re1V￿1 £7,046 (2023 £10.483) for their serk'icc5 a5 p3510ral ,. d adminisTriiii'e 355isTants. Durin8 the year a of£29,119212023 £21256) was donatrd to the tongreEalion by tr￿￿e¢S. 17 11 Forfar All Souls Church of Scotland Notes to the flnanclal statements (continued) Year ended 31 December 2024 10. In4wm•rts 2023 Market value at l January Addition5 at cost Disposals Unrèalised 8•ln I (loss) on InVestM￿ts Market ¥a￿e at 31 December 346.434 325.358 5L994 398,419 2L076 346,434 In¥estrn*nts at cost 111102 112.102 The Investments are ¢arried at theirfalr vahR. The ftqlowing are held: Church of 5colland In¥e5t(K5Tru5t Growth Units Church of Scotland Investors Trust Incoffle Units OtherlnbYslments/jl￿thgs etc No. 17.523 17.523 3,908 23￿90 23,890 ILD 2023 ft AKI Tax Refund Ihe 30.772 37.Gf 4.779 73.211 5.776 13.702 358 Prepayrnents Trade Debtors 19A36 cr•dI￿v% 2021 Accruals Other Credftors 10.797 L269 9.173 454 Trade CredltN5 33,745 45,812 5.750 15,377 19 Forfar All Souls Church of Scotland Notes to the financial statements (continued) Year ended 31 December 2024 13. Collectlons and fundrnlsln8 for Thlrd Parths 2024 Z023 Chri5tvan Aid Cro55 Reath Panahata Clinlc 454 SY 140 494 2CI) Poppy 5wdand Rotary Club Eckwedenl Hospital Forfar Fairtrade Forum Mission Aviation Fdlowship 5cott15h FaSrtrade Forum Ukralne Relief RCHA Red Cross Brechln Flood Appeal R5ABI In￿lstOn CHAS 346 423 1.585 419 205 50 537 161 976 237 381 120 1,587 253 cy￿A￿an5 4.410 5,589 14 Volunteers In cofflmon ￿th all congregations olthe Church of Scothnd the congregatloft benefft5 from the contribution mode by vglunteer5 vhKJ gT¥e their tlme and talents v4ill•n8ty for thè bÈnèfit ofthe Church. The areas of congre8ational Iofe which rely on the (ontributlon of volunteers are many and varied and much of the actlvtty would be unable to contlnue vlere it not for the cornmllrr￿l shown. l& Analysh of NEt A55ets Amon8 Funds Cumt financoal year Flxed Assets Investments Desknated Re5tr1rted Endowmeni Totsl 16.846 291,445 18,089 145.812 280.568 5,054 498 21.9DJ 398,419 344,516 145.8121 719.023 106.476 53.479 Currenr Asseis Current tsabllitles Net assets •t 31 DeG 2024 270,812 2.136 159.955 276.364 2,136 General Deknoed Restrkted Endowment Total Comparatl¥• finandal year Flxed Assets 7.957 202.278 106,677 110,9981 305.914 6,852 427 14,809 346.434 374.018 115.3771 719,884 Investments 141, 6.914 1,924 iio Current A55ets Current Liabilrst OI addltfonolAood to cover the needs ol ourfood parcel dlstrlbutlon Hun15fv1p Fund .. Thlsfund Isforoutrecth ro the homeless I￿d￿thEr910VPS In nEedwithin ourcL¥mmunity Mens'Gdd .. Thisfundis to cover the r05t uf Men s GuM￿tIeS Mlnllws .' Thtslvwrdi5 ta coverthe repain undmaintenonce oAthe chuf(h minthus Outrrnch cthlopffKnt Fund . Tlwsfvndis to meet the co#oA¢ommunlfy development workondffloted urtivities 5odal Comnthe Fund .' Thtsfvnd Is to coverullsoclolortl￿tl¢s SundaySchaolFund . fhtslund s to CO￿ the cost olfesourcesforallsundoyschoolartlvhles Youth Group Fund .. Thislund ￿ cubwour Youth Group actfvldes Unrestrlcted & d￿￿Trated fvnds DesignatrdFulMVf Fund .. The tnutee5 hove setusidefvndsforthe fflointenonce 0Sthe church wopert Fwn15hlngs Fund .. 7k tnfjtees IMThY5etasidefvnd5forthE rnplGcementolthurrhfvrnlth9S GuMdFund .. To coverthe cost arn￿nIng ForforAIISouts Chvrth ofscotlond One sentence hwtforeoch ofthe obove VA￿st￿rted & de&gnutedfvr￿5 to thepuqJDse In thePICTure Fund .. To produce 0ndd1strlb￿ea nkmthly newsletter to ollhnmes In Lethttm Wlloge onddistrict RestnE Fund .. Nv re5triction5 Dulgnated - Sllbv Surfers ." Thls lund is to cO￿r the cost ol osslstlng members of the tongregatlon wlth omputinq skllls Transfers: all trnnsfers were agreed by the Kirk Se5yov and are in line with the relEvantfuntl crileria. 22 Forfar All Souls Church of Scotland Notes to the flnancial statements (contlnued) Year ended 310ecember 2024 16. M•)vem•nts In l¢ryrtlnuedl Investsnent At l Jw. InciMn* Ewndtw• Transfers plnl(lossl At ai D ZOZ3- ¢ompafatfve Efftd(Mm•nt funds Benevolent F¢Jnd 1.853 1.853 142 2.034 2,034 39 142 Restrlrt•d funds Benevole￿* Fund Chdr&Organ Fund Refurtjlshment Fund Property Alteratir)n Fund Redecoratiryb Fund Letham Church RenOVat￿n Fund 4,892 5.117 22.355 38.828 4,976 5.205 46.043 so 23.303 123303} 115.475} 4,OSO 39.857 3.278 56.406 74327 115 27.447 2,549 55.606 14.410 Churth Gulld Fund 13,2721 1849} 16 Pfoperty Improvement Fund Communlty Hub Fund CTafL that and Cupple ￿nd Rower Fund Food Proje HardshSp Fund Men's Guiw Fund mini1￿5 Outreach Oe¥elopment Fund Soclal Committee Fund Sunday School Fund Youth Group Fund 1.649 153) 1547) 12.7551 11062) 1825) 11,475) 135.289) 186) 14) 13.5321 168,224) 87 299 10.667 3.226 3,525 12.291 iii 342 1.475 263.218 12.729 1.301 2.750 20.493 31.922 {4.8351 11651 711 252,￿6 77,520 16 Unre5tr1LtEd fvnds OeslEnated Fabrk Fund De5i8nated FuM￿h]ng5 Fund Guild Fund fjeneral Fund Design*ed In the PICTurè Fund Reserue Fund t)esignated- Sllversurfers 123.102 15.371 1.869 277,430 217 (l739) 2.250 2,072 126.345 15.636 396 265 IL33D) 277380 1265.781) (1225) 19891 (1,9611 13CQI 18 305,916 292 5,784 265 5.n5 265 423,Y69 678,7Z8 282.820 1272.075) 350379 1340299) li.C#y)I 20,920 11.073 454.634 719J86 Total funds 2023 23 Forfar All Sauls Clwrch of Scotland Notes to the flnanclal statements (contlnuedl Year ended 31 December 2024 ChxRyA' (I•B' Clw*yD• thwltyv fhirtty Iprtr Ipwt- Carr*kn•d mEryvI mEryW) Totsl TDtal IrKuw Total elpwdture Net kne0r￿lèXpen￿I￿1ej 3J51 12h76 37.no 165.161 32B.052 IziJ751 144.14¥ IlE7￿1) 1350,7171 14J6Y) 12iAX)1 I52,6￿} 715 12.156 51,812 1&6541 ($631 14.8841 113 15.4751 533 4.353 441 31.629 22,730 13.7ni .44YI tharltyA AbeJ*rnw) P4ytsh Chvrth Ch2rtty6 Dwmthn Letham Chw£h Charttyc Guthr* & Rescabiè Pirish Cknh CkwttyD Fwfw.5t Mirw•t'5 PwlthClwJrth CWtyE Ff*f¥ Lowson Parbhthurth Total Ttyal IKome Tthl •%pernlltur• Netknrnplloipendhwel Netpthsllh)ssesl 36Jii a1695 3.626 17.654 28.153 72953 175,298 360,379 In,￿4) 18S,6661 11640911 1340.2W 6399 112,7131 ID.DSO IG,ISO 21,077 Imi 4JID 13.110 gA79 3A37 10212 41.158 lat(h4Dn I*unlw Comblr Total 67J59 57.546 7ZA36 357,742 16&592 721174 Unre5tr*red funds Restr5rtedlLTh15 53,775 14X 9.496 301A68 45,914 56274 IU6 S7￿59 57.y6 19.043 147.550 456.217 263.822 136 722.175 72A36 357.742 166593 14 Forfar All Souls Church of 5¢otland Notes to the flnancial statements Icontlnuedl Year ended 31 December 2024 The po￿[e5 d txjth Dunnkhw LeTh￿ KFrtdeD Parbh Churth ¥•J FNfx Ltr•I￿ MErrvJthl Parlsh Clwrh wmr? Pr￿1￿5￿ alLqned and ¢tyWlUETht￿thtre has bEen M nEEd ts mAIW¥•rtyd5t*¢•cctyJM*q The u￿red conirwlon. Aberlernno Parkh Chrt F