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’.
Page 1
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.
Page 2
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.
Page 3
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
Page 4
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
1. 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
2. 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
Page 5
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.
Page 6
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.
Page 7
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.
Page 8
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.
Page 9
## 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|
|---|---|---|---|---|---|
Page 10
## 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.
Page 11
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.
Page 12
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**
Page 13
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).
Page 14
## 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.
Page 15
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.
Page 16