Scottish charity number: SC002499 Congregation number: 010106
Stockbridge Parish Church of Scotland, Edinburgh
Annual Report and Financial Statements Year ended 31 December 2024
Stockbrid e Parish Church of Scotland g
Contents of the Annual Report and Financial Statements for the year ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 - 4 |
| Report of the Independent Examiner | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 – 16 |
Stockbrid e Parish Church of Scotland g
Report of the Trustees for the year ended 31 December 2024
The Trustees present the annual report and accounts for Stockbridge Parish Church of Scotland, Edinburgh for the year ended 31 December 2024.
Reference and administrative information
Charity name: Stockbridge Parish Church of Scotland, Edinburgh Charity registration number: SC002499 Congregation number: 010106 Contact address:
Bankers: Bank of Scotland 43 Comely Bank Edinburgh EH4 1AF
Constitution and governance
The Church is a Church of Scotland congregation administered in accordance with the terms of the Unitary constitution and subject to the Acts and Regulations of the General Assembly of the Church of Scotland.
The Elders serving on the Kirk Session are the trustees of the charity and have been chosen from those members of the church who are considered to have the appropriate gifts and skills. The Minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. During a vacancy while there is no Minister the Presbytery appoints an Interim Moderator. The Kirk Session is responsible for the recruitment, appointment, induction and training of new trustees, when required.
The Kirk Session is chaired by the Minister or Interim Moderator and met ten times during 2024.
The Trustee office bearers who served during the year were as follows:
Title to the property owned by the Church is held by the Moderator, Session Clerk and Treasurer of the Kirk Session as Trustees ‘ex officio’.
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Stockbrid e Parish Church of Scotland g
Report of the Trustees for the year ended 31 December 2024
Objectives and activities
The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ’s Kingdom throughout the world. As a national church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial ministry. It co-operates with other Churches in various ecumenical bodies in Scotland and beyond.
Our mission statement is:
Being aware of the love of God in our lives, we, the congregation of Stockbridge Parish Church, as part of the world church seek to meet together in worship to demonstrate faith in God in our everyday lives; to reach out to others, showing God’s love and compassion; and to raise awareness of justice locally and globally.
Achievements and performance
Throughout 2024, worship has been led by our Locum Minister and the congregation attending Sunday Service at 11am has averaged circa 50 people each week, with a further group joining via Livestream or at a later time as a recording. Our Service is followed by fellowship over tea and coffee which is well attended and much appreciated by the Congregation.
The Locum Minister has been actively engaging in Pastoral visits and is supported by the District Elders and a volunteer Pastoral Group. This has been welcomed and particularly well received by members of the Congregation unable to attend Sunday Service at the Church. The Locum has also regularly visited Care Homes in the Parish to offer Pastoral support as needed.
Stockbridge Parish Church continues to play an active role in ‘Stockbridge and Comely Bank Churches Together’ aimed at furthering the ecumenical partnerships in the area.
The Scripture Union Group continues to run at the Church each week and though small has grown in numbers – 3 Church volunteers support the SU Leaders. Through the Locum and our Community Music Practitioner, we have also maintained a connection with Stockbridge Primary School.
We continue to operate our outreach presence on the high street at , intended to operate as a space for community ministry, and though it is currently underutilised we have plans to extend its use further in 2025.
, intended to
The Stockbridge Music Hub continues to make an important contribution in our service to the community. The Music Hub is a collaboration between Stockbridge Parish Church and Amati Global Investors who have generously provided grant funding to enable us to engage on contract a professional local musician as a Community Music Practitioner (CMP). In addition to organising monthly free concerts as part of a programme called ‘Thank Music it’s Friday’, Clea arranges regular ‘Culture Club’ events to present additional recitals in our Church building.
s also trying to build a connection with Stockbridge Primary School P1 and P2 classes to use music and ry as a creative outlet for the children. She also runs a weekly ‘Spectrum’ Music programme focused on using music in helping the development of children with autism. This programme is also supported by the charity Hear My Music (www.hearmymusic.org.uk) and is tremendously well received by the children and their parents/carers.
manages to persuade a highly accomplished and diverse range of musical talent to perform in the Music programme and feedback we receive from both the artistes, attendees and music critics is hugely positive. As a Kirk Session we are convinced that the Music Hub approach can play a continuing key role in both outreach and community support.
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Stockbrid e Parish Church of Scotland g
Report of the Trustees for the year ended 31 December 2024
Achievements and performance (continued)
As a Congregation we continue to support local and international charities. Internationally, we support the Mulanje Mission Hospital (MMH) in Malawi and the Mulanje Prison Nutrition Project, providing meals and medical support for prisoners in the local prison. Locally, we support Fresh Start, Bethany Christian Trust, Edinburgh Women’s Aid, Mary’s Meals, Poppy Scotland and The Yard.
Our collections on behalf of these charities exceeded £5,000 in 2024 and, in addition, we collected donations on behalf of Christian Aid on several occasions.
Our Property Convener has continued to ensure that all the Church’s properties (Church, Manse, and Number 7) are maintained to a high standard, and we have again in 2024 improved our eco/carbon-footprint and energy efficiency and certain key health and safety aspects of our buildings. Safeguarding remains a priority, as does Health and Safety and in 2025 we are increasing our focus on GDPR training for staff and volunteers.
Our Church halls are again extensively used for various activities such as Yoga, Tai Chi, Choir practice, and children's playgroups, and the church is also used as a regular venue for rehearsals and concerts.
In addition we remain an attractive Edinburgh Festival venue and had healthy bookings for the 2024 Festival Fringe. We continue to receive plaudits for the quality of the acoustics and generally in respect of the audiovisual facilities.
Staff and Volunteers
We are incredibly grateful to staff and volunteers for their commitment and efforts in making our continuing forms of Worship a success throughout the year.
At end 2024, the Church had 5 paid employees:
-
Church Administrator
-
Church Officer
-
Church Cleaner
-
Church Musician - 2 part-time Church Musicians to support our music in Worship.
Volunteers play a key role in helping to meet our Mission Objectives in areas such as Outreach and Fellowship as well as looking after the finances and the fabric and infrastructure of the Church properties.
Plans for future periods
Notwithstanding Stockbridge Parish Church’s failure to secure approval for a Counter Motion and an unsuccessful Call for Review in regard to the Presbytery Mission Plan proposals, we continued to make our case for a move to Mission District Central and in 2024 Presbytery gave the green light for us to have dialogue with Broughton St Mary’s to explore the potential for future union. We have had a number of getting to know you meetings, and a few fellowship social events, and in 2025, continue to explore participation in Mission District Central in a Parish Grouping with Broughton St Mary’s and New Town Church and have made a request for a formal transfer to this Parish Grouping.
While there remains much to be done, the more formal discussions are about to start in Q3 2025 and we will be exploring the basis on which we might work together in the future.
We also continue to have dialogue with the Presbytery Deployment Committee to explore how we can move forward in a way which meets the needs and expectations of both Presbytery and our Congregation and Community.
In 2025 we are in the process of refreshing our Mission Plan and are committed to embracing change and to collaborate with others across a range of Mission Objectives consistent with the 5 Marks of Mission.
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Stockbrid e Parish Church of Scotland g
Report of the Trustees for the year ended 31 December 2024
Financial review
Principal sources of funding
The Church is primarily funded by church members through their offerings and the Gift Aid thereon.
Results for the year
The Accounts for the year are set out on pages 6 to 16. The Statement of Financial Activities on page 6 shows a deficit before investment gains/(losses) of £40,619 (2023: deficit of £28,362) and after investment gains/(losses) of £25,098 (2023: deficit of £10,884). The deficit was exacerbated by delays in submitting a claim of £14.6k against the General Trustees Consolidated Revenue Fund and pursuing the outstanding gift aid and small donation scheme claims of £16,352. These claims are being progressed in 2025.
The Church’s funds totalled £523,344 (2023: £548,441) at the end of the year and are divided between restricted funds of £28,619 (2023: £33,672) and unrestricted funds of £494,725 (2023: £514,769).
Investment policy and performance
Investments are managed in accordance with our Statement of Investment Principles (available on request from the Treasurer). The Treasurer seeks to manage, with support from the Finance Committee, the Church’s investments in a prudent and cautious manner, seeking to deliver a mixture of income generation and capital growth.
All the Church’s investments are currently held within the Income Fund and the Growth Fund managed by the Church of Scotland Investors Trust (COSIT). At the end of 2024, the balances on those funds were £297k, compared with £306k at the end of 2023. The movements are shown in note 10.
The market value of funds held on our behalf by the General Trustees in the Consolidated Fabric Fund (Capital) increased to £168,521. Our Consolidated Fabric Fund (Revenue) increased to £14.683.
The Trustees continue to hold at a nil value the deferred share investment in the North Edinburgh and Castle Credit Union Ltd, which trades as Castle Community Bank (‘CCB’).
Reserves
It is the policy of the church to hold unrestricted funds, excluding tangible fixed assets, of at least 6 stmonths’ expenditure. At 31 December 2024, the Church held unrestricted funds of £192,437 which meet this policy.
Risk assessment
The Trustees have assessed the risks to which the Church is exposed and are satisfied that systems are in place to mitigate those risks. The Kirk Session regularly discusses both financial and non-financial risks. The latter include those associated with occupying church buildings and employing staff, together with the risks associated with groups and individuals using our buildings.
Signed on behalf of the Trustees on 14 July 2025:
Session Clerk
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Stockbrid e Parish Church of Scotland g
Report of the Independent Examiner to the Trustees for the year ended 31 December 2024
I report on the accounts of the church for the year ended 31 December 2024 which are set out on pages 6 to 16.
Respective responsibilities of trustees and examiner
The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
-
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended)
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Director
Cornerstone Accounting Ltd Chartered Accountants
11 Erngath Road Bo’ness EH51 9DP
Date: 17 July 2025
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Stockbridge Parish Church of Scotland
Statement of Financial Activities
For the year ended 31 December 2024
| Unrestricted funds Notes £ Income and endowments Donations and legacies 2 55,190 Income from charitable activities 3 1,047 Income from trading activities 4 78,304 Income from investments 5 16,538 Other income 6 503 Total income and endowments 151,582 Expenditure Raising funds 7 448 Charitable activities 8 185,704 Total expenditure 186,152 Net income/(expenditure) before gains/(losses) on investments (34,570) Net gains/(losses) on investments 10 15,521 Net income/(expenditure) (19,049) Transfers between funds 13 (996) Net movement in funds (20,045) Total funds brought forward 514,769 Total funds carried forward 494,725 Represented by: Unrestricted funds 13 494,725 Restricted funds 13 - Total funds 494,725 |
Restricted funds £ 18,192 16,416 - - - 34,608 - 40,657 40,657 (6,049) - (6,049) 996 (5,053) 33,672 28,619 - 28,619 28,619 |
2024 Unrestricted Total funds £ £ 73,382 54,125 17,463 520 78,304 70,366 16,538 15,017 503 1,872 186,190 141,900 448 108 226,361 174,722 226,809 174,830 (40,619) (32,930) 15,521 17,478 (25,098) (15,452) - - (25,098) (15,452) 548,441 530,221 523,344 514,769 494,725 514,769 28,619 - 523,344 514,769 |
Restricted funds £ 26,040 6,731 - - - 32,771 - 28,203 28,203 4,568 - 4,568 - 4,568 29,104 33,672 - 33,672 33,672 |
2023 Total £ 80,165 7,251 70,366 15,017 1,872 174,671 108 202,925 203,033 (28,362) 17,478 (10,884) - (10,884) 559,325 548,441 514,769 33,672 548,441 |
|---|---|---|---|---|
The notes on pages 8 to 16 form part of these financial statements.
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Stockbridge Parish Church of Scotland
Balance sheet
As at 31 December 2024
| Unrestricted Notes funds Fixed assets £ Tangible assets 9 180,678 Investments 10 296,916 Total fixed assets 477,594 Current assets Debtors 11 21,202 Cash at bank and in hand 5,394 Total current assets 26,596 Liabilities Creditors: falling due within one year 12 9,465 Net current assets 17,131 Total assets less current liabilities 494,725 Net assets 494,725 Funds of the charity Unrestricted funds 13 494,725 Restricted funds 13 - Total charity funds 494,725 |
Restricted funds £ - - - - 28,619 28,619 - 28,619 28,619 28,619 - 28,619 28,619 |
2024 Unrestricted Total funds £ £ 180,678 191,204 296,916 306,398 477,594 497,602 21,202 28,953 34,013 809 55,215 29,762 9,465 12,595 45,750 17,167 523,344 514,769 523,344 514,769 494,725 514,769 28,619 - 523,344 514,769 |
Restricted funds £ - - - - 33,672 33,672 - 33,672 33,672 33,672 - 33,672 33,672 |
2023 Total £ 191,204 306,398 497,602 28,953 34,481 63,434 12,595 50,839 548,441 548,441 514,769 33,672 548,441 |
|---|---|---|---|---|
The financial statements on pages 6 to 16 were approved by the Trustees on 14 July 2025 and signed on their behalf by:
The notes on pages 8 to 16 form part of these financial statements.
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Stockbrid e Parish Church of Scotland g
Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting policies
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with FRS 102, and in compliance with the Charities SORP 2019 (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The principal accounting policies adopted in the preparation of the financial statements are set out below.
Stockbridge Parish Church of Scotland meets the definition of a public benefit entity under FRS 102.
Basis of financial statements
The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accounts have been prepared on a going concern basis.
Income and debtors
All income is recognised when the Charity is legally entitled to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Interest on funds held on deposit is included when receivable.
Donated goods and services, principally the service of volunteers, have not been quantified for the purposes of the financial statements.
Debtors are valued at cost at the year-end and adjusted for any amounts considered to be irrecoverable.
Expenditure and creditors
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Creditors are valued at cost at the year-end and split between amounts due in less than one year and amounts due in more than one year.
Taxation
The Charity is exempt from Corporation Tax on its charitable activities and is not registered for VAT. Expenditure therefore includes any irrecoverable VAT.
Tangible fixed assets
All tangible fixed assets over £1,000 are capitalised at cost. Depreciation is provided at the following percentages on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:
| assets over their estimated useful lives: | |
|---|---|
| Land and buildings | 0% |
| Church improvements | 25% |
| Number 7 improvements | 25% |
| Manse and other equipment | 25% |
Investments
Investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year. At each year end, the church reviews the carrying value of all fixed assets and investments to determine whether there is any indication that those assets have suffered an impairment loss. If there is believed to be an impairment, the value of that asset is reduced accordingly.
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Stockbrid e Parish Church of Scotland g
Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting policies (continued)
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit account.
Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows:
Unrestricted funds comprise income received for the objects of the charity without further specified purpose and are available as general funds or are placed within designated funds which can be used for purposes in agreement with its charitable objectives.
Restricted funds comprise income which has been received for the objects of the charity and specified for a restricted purpose within these objects by the donor.
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
| 2. Donations and legacies Unrestricted funds £ Offerings 37,082 Other general donations 641 Gift aid receivable 7,467 Grants - Legacies 10,000 55,190 3. Income from charitable activities Unrestricted funds £ Fundraising income 8 Music Hub income - Baby and toddler income 789 Sunday teas and coffees - Weddings and funerals 250 1,047 4. Income from trading activities Unrestricted funds £ Hall letting income 47,506 Manse letting income 30,798 78,304 5. Income from investments Unrestricted funds £ Castle Community Bank interest 5,269 Dividends received 11,269 Interest income - 16,538 6. Other income Unrestricted funds £ Miscllaneous income 503 503 7. Expenditure on raising funds Unrestricted funds £ Card machine costs 448 448 |
Restricted funds £ 120 2,186 - 15,886 - 18,192 Restricted funds £ - 15,446 - 970 - 16,416 Restricted funds £ - - - Restricted funds £ - - - - Restricted funds £ - - Restricted funds £ - - |
Total 2024 £ 37,202 2,827 7,467 15,886 10,000 73,382 Total 2024 £ 8 15,446 789 970 250 17,463 Total 2024 £ 47,506 30,798 78,304 Total 2024 £ 5,269 11,269 - 16,538 Total 2024 £ 503 503 Total 2024 £ 448 448 |
Unrestricted funds £ 40,177 1,140 10,808 - 2,000 54,125 Unrestricted funds £ - - - - 520 520 Unrestricted funds £ 33,537 36,829 70,366 Unrestricted funds £ 5,269 6,270 3,478 15,017 Unrestricted funds £ 1,872 1,872 Unrestricted funds £ 108 108 |
Restricted funds £ - 6,320 - 19,720 - 26,040 Restricted funds £ - 6,731 - - - 6,731 Restricted funds £ - - - Restricted funds £ - - - - Restricted funds £ - - Restricted funds £ - - |
Total 2023 £ 40,177 7,460 10,808 19,720 2,000 80,165 Total 2023 £ - 6,731 - - 520 7,251 Total 2023 £ 33,537 36,829 70,366 Total 2023 £ 5,269 6,270 3,478 15,017 Total 2023 £ 1,872 1,872 Total 2023 £ 108 108 |
|---|---|---|---|---|---|
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
8. Expenditure on charitable activities
| Unrestricted funds £ Charitable activities Giving to Grow contributions 43,900 Presbytery dues 1,073 Gross salaries 49,812 Employer pension 1,015 Locum costs and pulpit supply 14,269 Contractor costs - Minister's expenses 188 Ministry costs 1,636 Music and license costs 6,506 Music Hub costs - Donations and gifts - Church fabric costs 12,980 Manse fabric costs 5,628 Manse expenses 8,758 Number 7 expenses 1,843 Software costs 698 Church utility and insurance costs 16,372 Church office expenses 5,327 Depreciation 10,157 Bad debt expenses - Cornerstone Accounting fees: Independent examination 1,440 Payroll services 672 Bookkeeping support 1,200 Bank charges 767 Other expenses 370 Total expenditure 185,704 |
Restricted funds £ - - - - - 20,504 - 140 - 11,189 6,718 - - - - - 1,386 720 - - - - - - - 40,657 |
Total 2024 £ 43,900 1,073 49,812 1,015 14,269 20,504 188 1,776 6,506 11,189 6,718 12,980 5,628 8,758 1,843 698 17,758 6,047 10,157 - 1,440 672 1,200 767 370 226,361 |
Unrestricted funds £ 33,713 808 36,540 809 13,554 - 569 5,095 9,287 - 2,050 7,758 - 10,600 984 1,128 16,321 5,622 16,637 2,102 1,200 - - 717 858 174,722 |
Restricted funds £ - - - - - - - - - 23,155 5,048 - - - - - - - - - - - - - - 28,203 |
Total 2023 £ 33,713 808 36,540 809 13,554 - 569 5,095 9,287 23,155 7,098 7,758 - 10,600 984 1,128 16,321 5,622 16,637 2,102 1,200 - - 717 858 202,925 |
|---|---|---|---|---|---|
Support costs have not been separately identified as the trustees consider there is only one charitable activity.
The average number of staff during the year was 5 (2023: 3). No employees were paid more than £60,000.
The Church remains in vacancy during 2024. The Locum Minister is remunerated in line with Church of Scotland locum stipend rates, covering 2 days plus the Sunday service per week.
All Church of Scotland congregations contribute to the National Stipend Fund which pays the employment costs of the Minister. Minister's stipends are paid in accordance with the national stipend scale which is related to years of service. This year, the minimum stipend was £31,642 and the maximum (for more than 5 years' service) was £38,884.
There are no paid staff of the Church who fall within the definition of Key Management Personnel.
No accrual has been made for holiday pay at the year-end as unused holidays are not carried forward.
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
9. Tangible fixed assets
| Cost At 1 January 2024 Disposals At 31 December 2024 Depreciation At 1 January 2024 Eliminated on disposal Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Land and buildings £ 180,000 - 180,000 - - - - 180,000 180,000 |
Church improve- ments £ 17,405 - 17,405 17,405 - - 17,405 - - |
Number 7 improve- ments £ 31,276 (7,831) 23,445 31,276 (7,831) - 23,445 - - |
Church and manse equipment £ 42,232 (443) 41,789 31,028 (184) 10,267 41,111 678 11,204 |
Total £ 270,913 (8,274) 262,639 79,709 (8,015) 10,267 81,961 180,678 191,204 |
|---|---|---|---|---|---|
Land and buildings consist of the church manse at 19 Eildon Street, Edinburgh, EH3 5JU. The manse is stated at cost and the current valuation is significantly in excess of this cost.
The Church building and property at Number 7, Raeburn Place are owned by the General Trustees of the Church of Scotland.
10. Investments
| Market value at 1 January Additions Disposals Realised (gains)/losses on disposal Unrealised gains/(losses) Market value at 31 December |
Unrestricted funds £ 306,398 - (8,984) (16,019) 15,521 296,916 |
2024 £ 306,398 - (8,984) (16,019) 15,521 296,916 |
Unrestricted funds £ 288,920 - - - 17,478 306,398 |
2023 £ 288,920 - - - 17,478 306,398 |
|---|---|---|---|---|
The following comprise the investment portfolio of the Church:
| Church of Scotland Investors Trust Church of Scotland Growth Fund - 24,800 units at £6.38 per unit (2023: 28,981 units at £5.83) Church of Scotland Income Fund - 12,540 units at £11.06 per unit (2023: £10.96) Unlisted investments Castle Community Bank - 143,126 deferred £1 shares Cost/market value at 31 December |
Cost Market value £ £ 57,231 158,224 133,817 138,692 143,126 - 334,174 296,916 2024 |
|---|---|
143,126 £1 deferred shares are held in Castle Community Bank. In prior years' accounts, this investment has been written down to nil.
As there remains some uncertainty regarding the level of investment that could be recovered at this time, Trustees consider it appropriate to continue to recognise full impairment of the value.
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
11. Debtors
| Trade debtors Gift aid recoverable Other debtors Creditors: falling due within one year Trade creditors Accruals and deferred income Taxation and social security Other creditors Funds movements Current year Balance at 1 Jan 2024 Unrestricted funds £ General fund 399,037 Jean Clark bequest fund 115,732 Total unrestricted funds 514,769 Restricted funds Amati Investments community music fu 14,040 Music Hub fund 1,445 Poor fund 13,300 Malawi fund 1,933 Charity collections fund 2,954 Total restricted funds 33,672 Total funds 548,441 |
Income £ 145,704 5,878 151,582 13,886 17,446 - 1,723 1,553 34,608 186,190 |
Unrestricted funds £ 4,007 16,352 843 21,202 Unrestricted funds £ 200 7,398 226 1,641 9,465 Expenditure £ 186,152 - 186,152 21,023 12,776 - 2,140 4,718 40,657 226,809 |
Restricted funds £ - - - - Restricted funds £ - - - - - Gains/(losses) £ 15,521 - 15,521 - - - - - - 15,521 |
2024 2023 £ £ 4,007 2,568 16,352 25,216 843 1,169 21,202 28,953 2024 2023 £ £ 200 2,149 7,398 9,931 226 238 1,641 277 9,465 12,595 Balance at Transfers 31 Dec 2024 £ £ (996) 373,115 - 121,610 (996) 494,725 - 6,903 - 6,115 (700) 12,600 - 1,516 1,696 1,485 996 28,619 - 523,344 |
|---|---|---|---|---|
12. Creditors: falling due within one year
13. Funds movements
Prior year movements and fund explanations overleaf
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
13. Funds movements
Prior year
| Balance at 1 Jan 2023 Unrestricted funds £ General fund 423,305 Jean Clark bequest fund 106,916 Total unrestricted funds 530,221 Restricted funds Amati Investments community music fun 12,189 Music Hub fund - Poor fund 13,223 Malawi fund 2,325 Charity collections fund 1,367 Total restricted funds 29,104 Total funds 559,325 |
Income £ 137,002 4,898 141,900 18,720 7,731 700 1,885 3,735 32,771 174,671 |
Expenditure Gains/(losses) £ £ 174,830 13,560 - 3,918 174,830 17,478 16,380 - 6,775 - - - 2,400 - 2,648 - 28,203 - 203,033 17,478 |
Balance at Transfers 31 Dec 2023 £ £ - 399,037 - 115,732 - 514,769 (489) 14,040 489 1,445 (623) 13,300 123 1,933 500 2,954 - 33,672 - 548,441 |
|---|---|---|---|
Explanation of funds
Unrestricted funds:
The General fund represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is designated or restricted.
The Designated Jean Clark bequest fund represents an unrestricted legacy invested with Investors Trust, the interest from which has been designated by the trustees as to be spent equally on local, national and overseas mission.
Restricted funds:
The Amati Investments community music fund represents grants received to support the community music practitioner.
The Music hub fund represents funds received to support music hub-related projects.
The Poor fund represents funds available to provide to the poor, usually at the minister's discretion.
The Malawi fund represents funds received to be donated to organisations in Malawi.
The Charity collections fund represents those funds raised by the congregation for donation to charity. The balance remaining on this fund at year-end will be distributed in 2025.
14. Trustee and related party transactions
Expenses of £463 were refunded to 1 trustee for items purchased on behalf of the church. No other remuneration or expenses were paid to any trustees.
Unrestricted donations by Trustees of the Charity amounted to £7,130 (2023: £4,820).
There were no other transactions with trustees or related parties during the year (2023: nil).
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
15. Charitable donations and collections for third parties
The Church also made the following donations in the year:
| Organisations: Mulanje Mission Hospital Edinburgh Womensaid The Yard Christian Aid Bethany Christian Trust Lady Haig Poppy Fund Mary's Meals Fresh Start Afghanaid Girls' Brigade Individuals: Retirement gifts |
2024 £ 2,000 825 750 721 700 510 506 500 206 - - 6,718 |
2023 £ 2,400 - 200 818 370 510 250 500 - 550 1,500 7,098 |
|---|---|---|
16. Pension commitments
The Charity operates an auto-enrolment pension scheme with NEST for all elibible employees. Employer contributions to the scheme are disclosed in note 8.
17. Volunteers
The Church benefits from the services of many volunteers from within the congregation: in supporting Sunday worship, in teaching at our children and youth based programmes on a Sunday morning, in helping with hospitality and administration, in encouraging fundraising for Christian Aid and other charities, and in volunteering on other outreach services we provide to our local community. We are indebted to all those who minister on our behalf in this way.
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Stockbridge Parish Church of Scotland
Notes to the financial statements
For the year ended 31 December 2024
Appendix 1
Funds held on behalf of the congregation by the Church of Scotland General Trustees
| Consolidated Fabric Fund Capital account Credit balances: At cost At market value Revenue account Opening balance at 1 January Income from: Growth fund Income fund Deposit fund Revenue interest Administration costs Closing balance at 31 December |
2024 £ 142,689 168,521 8,464 1,903 4,134 124 504 (446) 14,683 |
2023 £ 133,935 160,080 3,368 1,691 3,445 87 179 (306) 8,464 |
|---|---|---|
The Church can apply to drawdown these funds for expenditure on fabric by submitting a claim to the General Trustees.
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