HEART OF FIFE PARISH CHURCH OF SCOTLANO GLENROTHES LESLIE WIRKINCH & TH RNT SCOTTISH CHARITY REGISTERED NUMBER CONGREGATION REFERENCE NUMBER SC002472 241490 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER2024 CUNNINGHAM GRANT CHARTERED ACCOUNTANTS
HEART OF FIFE PARISH CHURCH OF SCOTLAND GL NROTHES L LIE RKINCH & THORNTON Conten R•port ol Ihe frustees Independenl Examinerfs Rert Stai¢ment of Financial A1VI.eS Stalemeni ol Finanoal Posi1n 10 Notes 10 th8 Finawal Statents Appendix 24
HEART OF FIFE PARISH CHURCH OF SCOTLANO GLENFiOTH S LESLIE MARKIN H ÞT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENOED 31 DECEKIBER 2024 The Trustees present Iheir annL+al report aid finla1 stsigments of Ihe dBrity for yew endgj 31 Oecernber 2024. The financial stskrrents have been )repare¢J n Kdance wrth Ihe accnunlrn9 policies seloul in the noles to the accInIS and comply th Ihc Gcncral Assembty Regula¢ion¥ fDr cororegats.onal FInce. the Ch¥ilies and Trustee Investment lkniiandl Acl 2005. the Ch2nliès A¢¢ounls Iscoysndj RUl•tityns 2006 la8 amended) and Aecounling and Reporting by Chanl¢es.' Sta'emenlol Recornmended Pra¢b a?pltsble lo charities prepariry I1r accounts irb aoranCe with thé Financv41 Reporting Standard aFg1icabl2 in iho UK Rewbk of Ireland published on l January 2019. STRUCTURE GOVERNANCE ANO MANAGEMEI The Congregation is a regisleied charity. nJmberSC002472. and ts a¢rninislered in accordance wth Ihe le'ms of the Deed cf Consiiithion (Unitary Formland is subied io Ihè Acts and Re9atrOns of the General Assert)lyol Ihe Chufch of Scotland. Mernbers of the Kirk Session are Ihe charits. trusls. Ttrie Kirk Session rnÈrnbers ar& Fldg.r nflho Church are Chen from those mèmbers of the Cfurch who are considered to haNe me appropria'.e gifts and Skills. The Min15ter5. who are members ol t Trfirk SessK)n. aree1ed by ts ffjngwation anl induded by Presbylèty. Thg Kirk Sesgon, which hag rnél SY lifllos sinco Ihè unin. 15 rosponsiblo fof oll offair5 wkhin tha Churth under Ihe unitary conslitulion. The Kwk Session Gomrrises several group5 w,Ih specific responsibilstie5' MiSsn 112 IfocugNg on the first two Nlarks of Mission). Vilss on 31415 If¢J)Jsing on Mark5 of Mission 3. 4 ano 51. Fabric. Finance, and Communtsiion5. This has been parJcularfi di1rul¢. and lime consuming. as each legaLy cOnggaOn did things Jghtly differently. Iherefore. Ihese lasf5 8FB fKrt yet cornpkie and the work coninue5. The Eld&rs WDO arè resronsible for tha gpiriual affairs vathin th ChLrch are SUPPOrtod i) the59 groups by co-opted members of the o)ngregats'Dn who are tElieved lo have the skills and comrnitrnert lo contribule lo tho rnanagemenl affairs of th@ Church bul are noi trustees. Tho con re ation has b8en albGated a'.ean wi-. ',ree TAinslers ofword an¢J Sauarnènt. With ¢he rdiral ol n 14 April 2024 anLI ndicabn9 on 4 November 24 that he wovld bo eac Ing as sole nominee at a church In =dinburgh in Ihe New Year. we arÈ in vaewey aThd a nomttiatmg lMIt1ee has been formed. The ministry leain 15 suppor1 by a fUl1e Pa510ral Asst51anl. a pan-timE ChiKJren and Faniligs W0er. ano a rA8rt-liffÉ Missx)n Co-oidin3lor. Somo m•mb9rs of tha con910ga1*c. many of whorn have completed tre Fife Presbytery Weavinq Worship cou@e. also parlicipale in leadin9 wotslip. OBJECTIVES ANO ACTPIITIES Thè Church of Scolland is Trinitari¥n in docrine, Ref¢rrned n Iradknon attl pbyleri8n in polity. It eSt5 loglorify God and to work for the advarcemenl cl Chrisl's KIngdA) thoUt the As ¥ national Church it ackno1ed9eS a distincbve call aTrJ thjtyto the oidrnaw ofre1n to the peogle in euery parish ofSoJlEand through a ierrilonal milli5try. It CO-operaiÉs with other Churchès in varioLS ecumgnical bodies in Scolanj and iEyond. The 'rk Sesson has adopted Ihe Fi4È IAarf(s of MissM)n as 41$ primary obioctiv•. To prodaim the Good News olthÉ King(k)m To lea¢h. baptkse and nurture new believe To respond to numan need by lovng Ser TO 5vek lo transfo uniusi ScreS of sociay. 10 thaiier¥Jè ¥nce of evèry kind aTrJ pursuo Jeace and reconcliaLon Tts strive to safeouarf lh8 intty01ertrthn and Sustain #Ad renew the lifè ofihe ewth To help in rocssIng the actiwties of the Ccnglogal. kn group5 re lom)e(l. The 112 c.roup fwusses on Ihe rirsl tSYO tnark5 Of rn155. 31415 GftsJP't55e5 on Ihe rernainirs maths ofmt59 Services ol Worship are held evwy Sundai mrThng xt 10.30 a.m. In JlY anlf August, Sunday rnoming WOf5hip was hèld ine&h church bu,.Iding on a 6-week rotstion, ènatsing Ihe Vaiiouslacy con9régaliorts to come together in leSlow5hip and gèt to know orbè another mfg ouithly. From September lo Dwernber servi$ ere held alternately - three 5¢rvre5 each wk in '.hree buildin95. Afternoon and ev19 s8rvces are a150 hekl In the various church bUild9S. Junior Church is avaTlat•lo for Ghiklren of prirnary school age a crèche Is prnvhyeo lor babie5 and Infants. WoF5hip lakes placé monthty n ky>l care homes arxt xhool ¢h¥laincy is offgred iri Ioc81 schools.
HEART OF FIFE PARISH CHVRCH OF SCOTLAND ENROTHES LESLIE MAR CH & THORNT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEM OBJECTIVES AND ACTIVITIES (Cont..) Throughout the week the church runs activities forall age5. These indude.. the Guild, Good Companions. Welccm8 In. Wam Spa. coffee momings. Klessy Churth. Monday Club. Yovth cb. as well a5 Ihe Lillle Fishes and Wild Weans toddlergroup5. Mso. Sl Dfosian's on Fife Pilgrim Way offers iours anil welLy)me 100s ofvstiors every year. Our ha115 are used by many c(Mnmunity groups. These indude". Altheimerf5 Group. fitness and martol dassgs. Guide Oog puppy Irainin9. CoMpaSsnale Friends. TeamJak. EXpsS Group. Crossroads. Gingerbread, slimrning groups. chr$. NHS baby irnrnun$5ation. Tiger Clubs and Guhles. Brownies and Rainbow5. Some of the premisès a also used for Local Council and resw1enis group meelings and as a Pollin9 Station when required. Ourcongwalxsn aclvety particspales ecumenallY in Glentothe5 Churches Tcg8ther and seeks lowothwtth Other denominations where possible. ACHIEVEMENTS AND PERFORMANCE On 1 July 2024. six )cal chufches joined togeiher to fowm lh8 H8art ol Fife Parish ChEtrch of Scouand IGlenrolhe5. Leslie. Mafkinch & TIK)mtonl. These churches were Glenrothes.. Chr6t's Kirk Church of SrA)Iland. Glenrothès.. Sl. Columba's Parish Church of Scolland. Glenrtsthes.. S¢ margat.S Parish Church ol Scoyand. and Glenrothes.. St Ninian's Parish Church of Scotland. Les1.. Trinity Parish Church of Scouand. and Marf(inch & Thornton Parish Church of Scotland. This union w35 proposed in the Frfe Presbytery Plan but voted for, and approved. by every Kirk Sesgon and CongfegatK)n of each ol Ihe Churths. Th8 weekly services afe broad¢asi INe various plafforrns lor members Unab to attend. The number atlendir¥J worship is approxirnately 200 beh¥een all the church seNce5. A holiday was run at Markinch and atso in the St Margaret's buitrjing. week warn spaces were provided in tr40 ol our building5 and a Ie Christmas Day lunch was provKted to about 40 people from around the parish. Or Rememtirance &Jnday. the Act of Remembra? was held in tsvo of th8 churth buikllngs during the morning service as well as a service a¢lhe Memofial Gardens in Glenrothes and lh8 War MemwtaLs in mark1rh & Thornton. Ouftng the school hOlays. Fife Courtil uses iwo of Chuich's prneS lo distribulo freè pad(ed lunches lo familie5 in need. Thomton Parish Church was sok1 on 6 Decemb&r 2024. wlh a service hokl on 3 December form81ty marking the closufe of the building. FINANCIAL REVIEW Our princspal sources ol income are from weekfy olleiings. Gift refunds. church organisalion actNibe5 and h811 lels. We have noticed a decrease in offerings Since the union. The majority of rnembers who paid by sta1n9 order had 10 transfèr Iheir offerings from one of the legary churches. aco)unts to Ihe Heart of Fife account. and some have ¢h05en not to. Some nlberS are attendin9 church les5 often as servir£s were not being hekJ in'theirf church every week. but once every si¥ weeks in July and August. then once every two weeks from Seplember to December. Some rnembers have 4Yec¥Jed to leave Ihe d)urth altC4Jether. For dafifi¢ation. Congregalhjnal Organisation incompjexpenditure covers irwxsmelexpenditure by Ihe Little Fishes To¢Ydler Group. Sponsored Ch11iJ. Warm Welcnme. Fk)wèr Fund, The Guikl. Young People and Families Fund, and Ihe Mission and Oulrea¢h FuThJ. Al the year end we had a Cdlece GNing to Grow shortfaj of £38.162. The tsat#"lity was Sèttled in 2025 from tha sale ol Thornion Church. In 2024 Sl Mar9aret's Parish Church recerved a beque5l for £5.OCQ for ihe upkeep of that building which is a150 now part of Ihe Property and Equipment Fund. They aL%o recewed a bequest of £6.279 which has no restrictions on it so this has been pul in the General FuThJ. Markinch a1 TrntOn also rec8wed a beouest of £1,789 during the year whrh had no reslriciK)ns attached. The Statement of FIna[tal Activi15 Sh¢h a defio"I forth8 year of £38.602 Total funds al the year-erMI were £544.437
HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE MARKINCH & THORNTON TRUSTEES. ANNUAL REPORT R THE YEAR ENDED 31 OECEMBER 2024 INVESTMENT POLICY AND PERFORMANCE Our Invesiment obJe¢ts"ve$ a Ihe preservabty) ol capilal whitsi pfovKling consisnI income. The funds are held in the Church of S¢oUand Investors Trust split beN¥een Ihe Gr0h Fund and Ihe Ineyne Fund. The Trustees of Investors Trust appoint reputable Fund managers lo manage boih FuThSs on their behalf. 80th the Growih and Income Funds have delivere(I posilive rem$ in 2023 awwj 2024. RISK MANAGEMENT The T¥u5tees consider Ihe f<Alowing to the main risks [g th¢ clwity.. We are ¢uffenUy in vacancy for a Minister ol Word and Sauament and O)reqUenY the is a reduced ministry resource. The Iased risk in h)sing members due lo Ihedfrnwraph$ oloureoThJregation could adversely affKt our viability as a cor¥JregaiN)n ènd our income s8M. Thè $e and 8ge of our buikjings maan that there 15 a risk that a13rg9 repair may be required. forexample the replacement of a boiler. 1¢h would impact on our ability to worship in the affected prnises or olfer our haws for community use and hire. The incr8358d regulatory frarnework in a range ofareas from Child pro¢e¢bon and protection to health and safety and empknyment places a bi9 ponsIbIlity on volunteets. There 15 a risk that we are unable ¢0 find volunteers wilh the skills and compeience 10 carry out Ihese tssks. The charity lieS on a small core of volunteer5 10 cary oul a nurnber ol key tasks which put us at risk should Ihey be Unae lo carry them oul lor any reason. The cost-of4ivin9 Cris+5 is a con¢¢m t)oth in t8rn of income and expendrture especialyon cost of utilities. The Trustees ara taking thè Idl¢)wng stèps to miligate these risks: A vacancy comrnittee has been forrned to seek for a suiiable caTrJHfjale to jthn our ministry 188m. New forms of worshw) and aciwrty to encouraue a broader age profile have been introduced Such as Messy Chuf¢h for famils once a month. 3. OulsKle expertise is soughl when required to support us in *Jh¢ring to Stslutory reqUInnts. There is also a regular pattern of prowrty surveys affaThJed by Presbylery. Fire P$bYlery is k)oking io support Churches in fabllc rnaltets and to reduce the burden place(l on volunieets. There Is a requirernent lo ensure that lhe are no'single points ol failure, and Ihat more than one person is able and lling to rarry out these key tasks. Wè will ènsure th31 docurnentabon is in place lo record whal the vanous roles entail. The rk$O$Sn deleNnine(I lo r8viewthe missional reqtsiremgnlfof each ofourbuiJdirKJs du¥ing 2025126. RESERVES POLICY The charity Iruslees have considered Ihe SeNe5 required and have taken inlo account their current and future l¢abililies. 11 is Ihè Trusl8es' policy lo hold reserves of approximaiely 34 monihs. eXndItUre including designated funds. At the year end Ihe Chrth hek1 unre$iii¢ted fund5 01 £105.340 of which £21.725 has been ¢esKJnaied for fabr. The Church atso held £355.749 in reStrled funLJs whth have been prOded for the purposes specified in Nola 16
HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES MARKINCH & TH RNTON TRUSTEES. ANNUAL REPORT RTH YEAR ENDED 31 DECEMBER 2024 GOING CONCERN The charity tn15tee5 recognise Ihat with the subslantial dèficil and lalliThJ coThJregau"ons resulting in reduction in income. steps need lo be taken to ensure we main a going CO8m. These indude.. viewing ihe need for 811 our thurch buiklin9S With a wew to dong our overheads a slewdr¢Jship campaign lo er¢ourage generosity amongst rnembers. indJ1yj promotion of stsnding orders for wular givin9 and gIStratIon for Gift Aid a community audit 10 enwurage errfJagernenl th Ihe chufch. promote Ihe services we offer and ensure they are aligned wrth the needs of Ihe people we look lo serye promotion of online cashback through easylundraising use of ¢rowdfunding an¢J seeking exlemal grants for specifie P¥Ojéds drawing down resour5 frorn the Cons¢Yidad Faiic Fund and investments where appropriate taking advanlage of the Lisle¢J Places ol Worship Granl stheme to reclaim VAT on labric expenditu in cKJr 3 listed burfdings UNION During the current finan¢ial year. on l Juty 2024. a re5truciuring took place v4? a ba515 of Union belween Ihe lollowng congregaiions (all uninrA)rpor3ted Scotbsh Charibesl.. Naffl8s of combining ¢hariti•s S¢otti$h Charlty Numbor Glenrothes.. Christ's Klrk Church of Scoland SC007397 Glenrothes.. St Columba's Parish Church of Scotland SC016386 Glenrothes.. Sl Margarei's Parish Church of ScollaThJ SC009845 Le51ie Trinity Parish Church ol Scolland SC014025 Markinch and Thomton Parish Church ol ScoUaThl SC003417 Glenrothes.- St Ninian's Pailsh Church of ScoUaThJ SCLK$2472 Please note Glenrothes.. St Ninian's Parish Church of Scolland is Ihe fomwr nam8 of Ih*s charity which since the date of Llnion has been known as"Heart of Frfe Parish Church of ScolLqnd"_ The basis ol Union ol Ihese congregations was approved by the ol Scollish Charity Regulaior IOSCRI and the Church of Scotland (parent charity- SC0113531 with an elleciwe Llnion ImeTrJerl date of 1 Juty 2024. As Ihis Union was a [ger of the congregaiitins into one ¢onbnuing eongregalion the merger method or aceounts'ThJ was deemeij appropriate. This means the financ1 stalemenls show th6 current an(1 comparative rigures as if the enlib.es have been the combined Ihroughout those periods. Note 18 to 20 of the financial 31alements wovides further detaits of the pre-rnerger a1 $1-merger Statemeni ol Financial ActiviteS ISOFAI component5 as well as Ihe net as5et5 al Ihe date of merger which makè up the ¢xJrnbined figuros detailed in thesè fInal1 statements
HEART OF FIFE PARISH CHURCH OF SCOTLANQ GLENROTHES LESLIE hlARKINCH ÞTON TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 ReFeRENCE AND ADMIMSTRATIVE INFORMATION CHARITY NAME Heartol Fife Parish Chufch of ScodaTrl (Glenrothes. Lesle. Markirch & ThorTrtonl CHARITY REGISTRATION NUMBER SC002472 CONGREGATION REGISTRATION NUMBER 2414SYJ CONTACT ADDRESS slcdmb3'S BuildiThJ Trie Chwch O Rothe¥ Ro¥1 GbnrDthe5 Fi'e 618N PRINCIPAL OFFICE BEARERS hAniSte.. Stss*Jn Cberks.. Church Trta5wer.' INDEPENDENT EXAMINER C1arfered Acc¢yJntant cEjnninarn Gr8nt Uoit G6 The Grarnary &JsiDe55 Centre Cjpar Fle Kf15 5YQ BANKERS R)yal Bank of Scotland 3 Fal.%lan4Y Gaiè Genroi Fle KY7 SMS Bank ol Scotj 9 FalÉland Ga G'e4)roto$ Fle Kf7 5LW Vrgin eY 5 Falkland Ga Genrothes Fle KIU7 SMS
HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE MARKINC 8 THORNTOII TRUSTEES. ANNUAL RIPORT FOR THE VEAR ENDED 33 0ECEK4BER 2024 TRUSTEes The followng trustees were rrembets of itre Kirk sesSn of the Hean ol Fife Parsh Chuteh of Scotland frun the ale of unx)n on 1 July 2024 and manOj so LV to 31 Defflber 2024. Prior to ¢he unn they had sened as Iwsiets olone ol the legacy congregation In addthn, th• loll¢)wng solved 86 twsta05 of the legaLy eth1900$ 10 30106124 as indicated.. Christ's Kirf( Parh Chwch olscoyai Inlerim V£Jerator Markinth and Thomion PJ-.sh C.-r{h ol S.:oll#n,- 110 14 January 20241. St Ctnl.S Pari 10 0*041241 hurGh of ScoUanJ'. 110 031041241, lar arel's Parish Ciurch ol to 31109241. Sl Ninian's PaThsh Chu-ch ol Scotla1.. '.I'. L?r 'ron i i'JJi24 Truste 11 yeArl. 2year81 ard 2 years).
HEART OF FIFE PARISH CHURCH OF COT GLENROTHES LESLIE MARKINCH & THORNTO TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEklBER 2024 Twslee's ResponsI.1111eS in Felatk)n to the FIftad Statemenis Tho ch8rity truslc08 aro rcsponsible for prwarin9 8 twsb38s' ann1 roport 8ndffinaThial 8t0#19 in a•[cranCe wilh applir2ble law and United Knadorn A&"ng SlaThlard& (United Ki0M Ganorally Accèpted Accojnling Praclicel. The law applut to tharitS in Scouand wuires ihe charity trseS io preparo financial slemen1s each y¥81 which $how a tru& and fair of .h¢ $t8te of offairs ol lthe th3rity of the irKorning resource5 and Appe3110n of rÈsoLWtÉs. ol thè tharity ftr that perit)d. In prèpanr¥J th finwcial statements, the tnjstees are reqvired lo.. Sèlect suitable attounting pol1&$ afid thèn apply them o)rsisiènly.' Observe the method and prinopl& in the ¥pplutr40 Charities SORP; Make judgements arJ eslKnates that a ISOnab and prden1'. Slatè whether applicab accaUn9 Slandards and stalemeTrts of recommend&J prackn"c8 have beèn followed, subif¢i lo any d13cJosed explainett in ihe finanoal slaietrEnts, Prepare Ihe finan31 slalements on the going corttrn basis unless it 6 inappropriate 10 prayJrY that I chanty will conbnue n operalMJnal existCe. The ¢rusteès are respon5ibk for keeping propef accountiwwJ cLd5 which d15ckn5e wllh reasonable accuracy ai any lime the financial position of Ihc Charityar to er.8bk thcrn toenjure that Lie financial *atements crrnpy with the Chariiies and Trustee Investmènt IS¢oOandl Aet 2005 and the Charib"8s ACcots (Scollandl Regulatons 2006 las aMendI. They are also respx)nsible Icr 5afeaua.'dirAJ the asset5 Dfthe cha"ityand hence for taking reasonable Steps for the prevention aTrJ tectn af fraud 8r¥J clher irragulantiès. The trustee5 are re5ponsble foi the maifjten8nce and integrity of the chavity end finan081 infomwlion on the tongregatx)n'5 website. LlslI0n in the Lnited Kingdcth arn9 IhèprÈparai#Jn 3nddi55eminaticn offirancial statements may differ from legisla11 in olher jrdictI(s. Approved by Ihe TrUStS ano slgngj the1r
HEART OF FIFE PARL8H CHURCH SCOTLAND GLENROTHES LESLIE WKINCH & THORWCN INDEPEliDENT EYAMIN&RE REPORT-O THE TRUSTEES AR ENDEO 31 DECEMBER2024 I repoil on the accojnts of Ihg chafty for yew ended 31 Oec6mber2024 ykniGh are setoul on pag85 910 23 RESPECTIVE RE8PON81BLmE8 OF TrIE TRusfEE8 AND EXAMINER ¢haritVs trLLStees are reSpS11e for wepariThJ the finarKial ststeffnts in accordan wilh Ihe tem)s ol the Charits and Trust8e InSIment (scolldI Ad 2LK15 and Ihe Charitss AclI1t9 Iscouandl Regulatsors 2006 las amendeoi. The Charity IAssle•s ton$idw th#t the avdil requirement of r8wlati>n 10I1Xal to Icl of t Charities Accounts regulations does not aQv. 11 is ry r8swnsibi&ty to examin.e whether ihè a(xx)unls as required unr sedion 4411 Ilcl ol the Act and lo st81e whethe", parb"cular matters have to my artention. BASIS OF INDEPENDENT EXAMINER'S STATEP4ENT My examnabon 15 carried J1 ln accordarte vKlh ReouFalDn 11 of Ihe Chariik>% A(rniJnlq Igeoiiandl Ragulatn4 2006. An exarninabon indu4Jes a rèwew )f Ihe actounLin9 reccds kept by he charity and a compari50n ol Ihe acwunts presented wdh those iecords. It also indvde5 congderatK)n of any unLssual rterns or disck)surè5 in the accounts, arKI 3eeks explanations Irom U)- trus05 Gonwning any such matters. The pf[re$ undertaken (Jo noi provi¢J• all th• £vad8nce that would bo rewiréd irn an audic and CorqLIen11Y I do not expr8SS 8n sudit )pinton on the view given by the accounts. INDEPENDENT EXAMINER'S STATEMENT In the coursé of my oxamnabon, no malt¥ ha$ com¢ to ry attontiort 1. wh'ch gNes me re8sonaNe cause tr) telieve tha in any rr081 respect the requiremenls.. lallo keep accounting records in accordance with ction 4411llal of the 2005 Ad and RegulaiioTr 4 of the 2006 AccountsRegulaiions (as amenoeoi. and Ibl lo prepai0 2ccountE whKh a¢cor¢Y wim tho A<wunbng rordS and comply wth RegulatiDn 8 rA Ue 2006 ACUnts Regulatio la5 amended) have not baen rnet. or 2. to whtrth. in my opinon. allanbtin should be olrawn in oart0 a proper Und&rt8j1ry ol ihe accoL4n15 k) be reached. charl..& CunniTrgham Grant Unit G6 The Granary Business Centrè Cupar File KY15 5YQ Dale Ib 2Q
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HEART FIFE PARISH CH (F SCO GLENROTHES LESLIE MhRbaNCH & THORNTON BALANCE SHEET FOR THE YEAR ENDED 31 0 CEMB-R2 24 Total Fd$ 2024 Prior Year 2023 FIXED ASSETS Tangble assèts Investhien15 14.510 383.419 7.983 6.578 397.929 .561 CURRENT ASSETS Oeblors Bank and cash 112] 24,079 173,512 16.742 157,595 TOTAL URRENT ASSETS 197.5S1 214.337 RftEf LIABILITIES Credors lling thje within ono 51.oe3 25.859 NET CURRENT ASSErs 146.508 138.478 544,437 583.039 THE FUNDS OFT CHARITY.. Efidowment funds ResInct incom8 funds Unreslricte¢ income 83,348 355,749 10&340 76,425 320.822 185.792 1161 TAL CHARITY FUNDS 544.437 583.039 The accountswe approved by Ihe Kir< Ses$on on For and on bthalf ol the Kk Se1 15106174 10
RT OF FIFE PARSSH CHURCH OF SCOTLAND GLENR IE MARKINCH & THORNTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 111 ACCOVNTING POLICIES 7he principal aco)uniing potig"es, which have been appl nsienty in the oJrTenland preceding year in dealing wilh iterns which are considered material to Ihe accounts. ale Sel out tslow. BASIS OF PREPARATION Thefinancial slalements have been prèpared in accordancewilhAccounliThJ and RepM)rtsng by charit$. Slatemeni ol Recommended Practi appluble its charities preparing Iheir accounts in accordance wilh the Financial Reportin9 Standards applicable in the UK and Republic of Ireland IFRS 1021 leffethive 1 January 20191 and the Financial Reportsng siani5ards appliuble In the UK and RepublK ol Iral IFRS1021. the Chartbes and Trustee5 Inve5tmeni IScotlan<Jl Aci 2005 and Ihe Charit85 Accounts [stI?nj Regulation5 2006 las amen¢edl. The financial slalements are presented in slerting whtch is Ihe fundi(mal currency ol thè charity and are rounded to the nearesi £1. The Chanty conslittsles a Publ benefit 8nbty as defined by FRS 102. Merger accounling has been applied lo hlathinch & Thomiofi, Christ "th. Sl Columba's, St Margarets. St Ninian's and Trintty Leie Parish Churche5 of Scotnd which re United inio Heart of Fife Parish Church ol Scotland (Glènrolhes. Le51ie, malk1ch & Thomlonl IforThtty called St Ninian s Parish Church of Scotland before dale of UnK)nl. Th8 basis of union of Ihe5e Cong93b0ns was approved by Ihe offi of Scollish Charity Regulator IOSCRI and the Church orSlIand with an effective Un date of 1 Juty 2024. The merger melhod of accounting has been appl 10 th8se financial statements a5 5fthe etsii15 had aKYays been cotnbined. The accouniing ptslici8S of all eniilies were previously aligned and consequenity there has been no need lo modify any existin9 accounting policie5 in Consolidating Ihe Uniled cKwwailL, olhw than reslaiing from receip15 and payments basis as appropriatt GOING CONCERN The Trustees consider thai the arè no material UnrtainlS aboiAI the ability of thè charity lo COnbn lor the foreseeable futu. and therefo has adopied the 9OU)g concern basis in preparing Ihese finanrial statements. The Trustees have consided a period 0112 rnthS from the date ofapprovèl of the financial slatemonts. FUNO ACCOUNTING Unrestricled fu15 a avalable for use 81 the discrtlionolth& TN5tees in lurtherancè tsf Iheirchar¢lable objeclwes. Unrestricted funds in¢lu¢Jed designaied funds Whe Ihe Twstees, at Ihetr discon. have ated a lunrj for a specific purKx)5e. Rèslricled funds are subject lo Spear rdItIOnS by donor¥ as lo how Ihey may be used. Furiher &xplanation of the natu and purposè of each lund is included in the rnte5 to the finanoal statements. Endowmeni funds a funds %vhieh have been given on (xjndibon that the Original capital Sym Is noi dUC0d, bu¢ the incorne Ihare trom Is used lor Ihe purpose defined in accordancè wilh the Obj1$ ol Ihg charity. INCOMING RESOURCES Income 15 recognised in the acctsunls when Ihe ¢haity 15 le9alty enliued to Ihe lunds. any performan conrjitions have been rnèi. the amounts can be measured reliably. and il is probable Ihat income will be ¢81ved. Cash donatKJns a e0gniSed on receipt. Other donalions a wenised On the eh8rity has been notified of the donation. unless perfom)ance conditnS require deferral of the amount. IncA)me recoverable in relati to donations received undèr GIllAid or deeds of covenant is recognised at Ihe rne ol Ihè donalon. Revenue grants are credited to tho income and expenditure attounl in the Peri 10 ihey rdale. Capital granis are recognised In Ihe Stsiement of Finawal Activities when Ihey are re1¥able. For reslrithed capilal grants. funds will be reduced over the uselul ecormie lile ol the asset in lin• with ils d¢patYn. li
HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES L RKINCH & TH NTON NOTES TO THE FINANCIAL STATEMENTS R THE YEAR EIYDED 31 DE EM8ER 24 111 ACCOUNTING POLICIES DONATED SERVICES AND FACILITIES Lk)naied prof8S5ional seNices and donated facilities are recognised as income when Ihe charity has control over the item. any conditnS associated with Ihe donaled ilem have been rnet, the receipt oleconomic benefit from use by the charity of Ihe ilem is probable and that the econ%Jnle benefit can be measured lIablY. In accor¢Yance with the Chaftlies SORP IFRS 1021 the general volunleer ts[r ofcon9regat¥)n rnefftbe is rkol recognjsed. On receipi. don8ied professional services and ¢Jonated faolits'es afe recogn15ed on the basis of the value of ihe gift lo the charity which is Ihe amounl Ihe chariiy wouk1 have been willlng to pay to obtain services or facilities of equwaleni economic benefit on the open maet. a coffe5pondin9 amount is then reccqnÉsed as expendilure in the penod of rec&pt. EXPENDITURE Expendiiure. includin9 grants in the fom of support and gifts to indmduals and charilable inslitulions. 15 accounted for on an accruals b3Si5 and has been dassifie<J under headings that aggregate all costs relaied 10 th8 category. Expenditure includes any VATwhi¢h cannoi be fulty ¢Ve. and k% rowrted as pan of Ihe expenditure to which it relates. Charitsble expendi¢u o)mprfjses th058 costs irKurred by the charity in the ddivery ol its activities ancl seNices for ils beneficiar$. It indude5 both c051s that can be alkncated dire¢Uy to S[h aciivits8s and Ihose wsts of an indirect nalure necessary to support them. Governance cosis indude thosè incurred in Ihe go¥eman of thè charity and its assels and are primarily associated with constitutnal and slatulory reqU1ments. TANG18LE FIXED ASSETS The tharity has the nght to occupy and use for ils charitable objects certain tangible fixed assets. including tho Church. ha115 and manse. Vesled in thè Church of S¢oUand Gèneral Tmstees. No consideration 15 payable for Ihe use of Ihese assets. Expendilure Irturred on The pair and maintenance of ihese assets is charge(1 as resources expended in the stalemenl ol Iinanci313clivites in the nCl in whKh the liability anses. Tangible fixed assets are slated at cost less accumulated depUatiOn arKI a(Lumulaled impairrnent losses. Cost Ilu{jeS costs direcuy allribulable to fflaking the assel Capab of operabng as intended. DepcIall0n ha5 been prOVe on all langible fixed a55e15 al rates ¢abJlated to wfite off Ihe cost. lèss estimated sidual value, of each asset on a systemab"¢ basis ovèr its expected useful Ille as follows.. Fixtures. fitting5 and office equipmenl 5 years Straighl line INVESTMENTS Fixed assei inveslrnents are stated at market value ai Ihe balance sheet da*. Unrealised 9ains and 105se$ represeni the difference barween Ihe market value at Ihe beg¢nning and end of the financial yeaf or, rf purchased in the year, the difference beeen cosl and market value at the end of Ihe year. Realised gains and losses represent the differenc8 between the pwc8eds on disposal and Ihe markel value al Ihe stsrt of Ihe year or cosl if purchased in the year. CASH AND CASH EQUIVALENrs Cash and cash eouivalents are basic financial Trnstrumeft15 which indude cash in hand. ¢eposils held al call wilh banks. oth8r Srt-teM1 liquid investments with original maturrties of th months or less. and bank ovefdrafts. 12
HEA T OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE MARKINCH TrIORNTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEC MBER 2024 111 ACCOUNTING POLICIES OEBTORS Tradg and other deblor5 are rewnised at the settlement amount due aiierany discount offereil. Prapayments a value(l al Ihe arN)unt ppaid net of any discounts due. CREOITORS Creditots are nornally rewnised at Iheir seiuement arnovnl afteralbmng for any trdde dK£counts due. TAXATION The charity is exempt from lax on its Charitable activities. CRITICAL ACCOUNTING ESTIMATES ANO JUDGEMENTS In the applthb.on of the accounling polic*s. the trustees are required to rnake judgements, estimatès and assurnptions about the carrying arnounts olassets and lia'lle$ Ihal are not readily apparent from other sources. The estirnates and associaied assumptions are based on hisloncal experience and other fa¢lors that are conSided lo be relevant. Actual re5ulls may 4Jrffer from these eslimates. The estimates and underlying assumptions are revÉewed on an ongoiry basis. Revisions to aco)unbn9 estimates are re¢ognised in the period In which th8 estimate is Vised where the fev6K)n affect5 Only that period. or in the period ol Ihe visiOn 8nd fubJre perN)ds where ihe rewsion aflects both CU1 and future period5. 13
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HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE PAARKINCH & THORNTON NOTES TO THE FINANCIAL STATEAIENTS R THE YEAR ENDED 31 DECEMBER 2024 2024 2)23 18] STAFF COSTS $818ri8s and wages Social Securiry (x>sts Pe[k8n costs 54.433 s¢,2 372 251 54.805 55.213 The average nurnb¢r of emploYS (Junngthe year was as follows: Flusie staff Premlses AdMIn[ration Youth workers 14 0eiai15 01 looJm $t5 are gwen in No employee h&1 tefitS in excess 01£.(K)I2l3- 0). All Church of Stvllaml crm9re9alions cortribjleto the lOal Stipmd Fund vkniGh bear5 tv co8t of all In151er5' s1ipetKJs and employ&s Gonlribution3 lor nalion811nsufance. pen5Jon and hou•n9 108n fund. Min)sters' stipends are paid in awKd8nc¢ kne nobonal stipend ¥¢ale. which is related to years of 5eThice. For the year under review the minirnurn S'ipe was £31,643 ar¥J the mamJm sliperKI lfft the Sth and subSut yoarsl £38.884. 191 TRUSTEE REKKJNER4TION AND RELATED PARTY TRANsAcTNs Diiring Ihe year the follo7n9 exwtses were paid (y) tEh-11 ol sr.inisters- - 12,73612023- £3.2591. 4.27412023- £5.3881. 12023 - £3.9121. During the year the followng salariès wep paid 10 i)&nbers of ihe Kirt Session- roanist £- 12023- £4.8).rnlst £6.18212023- £5,395). £10.751 12023 £9.0921. No Irusiee or person rdaled to a trustee had any pwsma irterest in any ¢ontr or transaLttion enter&J into by the charily during the year. During the year a total of£52,19512023- £72.2661 was th)nated to thé COn9a110n by trustees. 16
RT F FIFE PARISH CHURCH OF SCOTLAND GLENRofHES LESLIE MARKIN TH RNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1101 TANGIBLE FIXED ASSETS 2024 2023 Al 31 December 2023 38.017 28,322 Additions 10.943 9,695 At 31 December 2024 48,960 38.017 De reciation At 31 December 2023 30.034 27.032 Charge lor the year 4.416 3.002 Al 31 December 2024 34.450 30,034 Al 31 Drnber 2024 14.510 7,983 Al 31 Decernber 2023 7,983 1.290 1111 INVESTMENrs Markei value Al 31 December 2023 386.578 360,064 Additions Withdrawals Unrealis&J gain5 on inv¢5tments 4,637 {27.0461 23.887 21,877 Al 31 December 2024 383.419 386.578 Investments ai tost 296,477 323.523 Investments comprise- Church of Scotland inveslors Trust- Income FuThJ Church of Scotland inveslors Tru5t- Growth Fund Church of Scotlan*J Invesiofs Trusl- Oeposit FunLI 17
HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE AKINCH & THORNTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 1121 DEBTORS Gift Aid lax fUnd due Other debiors Prepaymenl 8.498 1.489 14.092 12.066 4.676 24.079 16,742 1131 CREDITORS- amounts duo wthin one year Accruals Oihv cr&Jitors- Giving to Grow 12.921 38.162 7.949 17.910 51.083 25.859 Gwal C*signaleLI Reslricled Endowment Total 1141 ANALYSIS OF NET ASSETS Tangible assets Investments Currenl a5sels Cufren¢ liabilili8S 14.510 26.452 38.070 151.0831 14.510 383.419 197.591 151,0831 10.208 67.183 264.385 91.364 82.374 9T4 s at 31 Oecwnber 2024 27,949 77.391 355,749 83,348 544.437 Tangiblè assets Investments Current assets Current liabililies 7,983 32.216 63.578 25.8591 7,983 386.578 214.337 125,8591 9.328 98.546 269,535 51,287 75,499 926 As at 31 Dnbel 2023 77.918 107.874 320.622 76,425 583.039 1151 vOLuEERs In tommon with 311 congregations of Ihe Church ol Sco113nd Ihe CongrallOn benefils from Ihe ntnbution made by volunteers who give thr time and talents willingly lor the benefit of the Church. The areas of congregational lif8 which rdy on the ¢on¢nbtstion of volunteers are many and varied and rnuch of th8 acuvity would be unable to Conlin %4£ il not for the commiiment sh)wn. 18
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HEART OF FIFE PARISH CHURCH OF SC TL4ND GLENROTHE LESLIE MARKINCH & THORNTON NOTES TO THE FINANCIAL STATEMENTS FOR THE Y R ENDED 31 DECEMBER 2024 2024 2023 117] COLLECTIONS FOR THIRD PARTIES Christian Aid Tear Ftsnd Blylhswood Care Gi115an Rose Nurses Glenrothes Foodbank DEC Earthquake appeal Church of Scollarvj Syria appeal Earf Haig Fund Children's Hospi across S(oiland 711 48 85 120 1.006 41 178 220 1.102 138 35 146 3.046 21
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HEART OF FIFE PARISH CHURCH OF SCOTLAND GLENROTHES LESLIE MARKlhtCH & THORNTON APPENDIX- FUNDS HELD BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES FOR THE BENEFIT OF THE CONGREGATION FOR THE YEAR ENDED 31 DECEMB 2024 2023 consolidat Fabric FuThJ Capital account Credit balances held al 31 2024 at cosl 246.207 246,207 Markèt valuo ol balanc•5 at 31 Dember 2024 285.893 283,957 Revenue aeeounl Credit balatKe at 31 December 2024 25.115 16,465 Temporary account Credil balance al 31 L)ecember 2024 115,374 14011 lrndividual Fund Whose purpose is to augmenl the Stspend OF Leslie Trir¥ty Expendablo cr11 balan5 at 31 0ber 2024 at o)sl 1.841 1.675 Market value of balances at 31 Oecember 2024 1.841 1,675 Pemianent endowmÈnt Crwjit balance5 at 31 December 2024 al (xjst 1.494 1,494 Market value of balances at 31 Oecember 2024 1.494 1,494 24