Ch•rlty No. SC th)3LI)9 CHRISTCHURCH, MORNINGSIDE Annu•l A•port •nd Actwnts FOR THE YEAR ENDEO 30th SEPTEMBER 2025
Chrlst thurch Momlnlslde Annual Report •nd Accounts forthe year ended 30th September 2025 Vestry Rep Statementof Flnandal Artlvltles 8alano theet Notes to the accounts io Independent Examlnerfs Report 16
Chrlst Chur¢h Mornlnplde Vt5try Report for the year ended 30th Sw¢mber 2025 Relerence •nd Adrnlnlslr•tfv• Det•lls of th• Ch•rlty, Its Trust$ Adth• Smttish tharfty Number'.- Prfncipal Office:. 6a Momln85k4e Roèd Edlnbur8h EH104DO Membets ofVestry.'- Rev car Matthe4¥ Rushton Caroline thrttleburgh Lbsa Gallaghef Robln Quinn Chri5 ArTr)Id Kenneth RamaBe Alex Hammond-chambers Catherine Cvlllgan Henrfetts Evetts Chrls Guiver &morh Macintosh Hilary Scott Chalr People's Warden Aertorfs Warden Lay Aepre5entative Se¢rEtary Treasurer ResIed December 2024 pointed December 2024 Asslsungaew:" Rev Ryan Bennett Rev Bronwen Carfing Rt Rev Dad Chlllln8worth Re¥ Imre Katay-Fodor Revjane Green Rev Simon Paul As5QCiate Rector{part tlmel Noft*ipendiary mintsterlretiredl Non4tlpendiary mlntster (retldI NOn-SpendIary mlntster Non-stipendiary monster Irwiredl Non-stipendiary mlnlster Iretiredl Banke:_ BankofSwdand 426 Momln8side Road Edinbur8h EH105QF Independent Examlner5:. Chiene +Talt LLP (Tradln8ascn Chartered Acccwntsnts 61 DUbn Street Edlntsj EH36NL l Ruthnd Court Edinl)ur EH3 8EY
Chrlst Church Mgrnlng51de Vemry Report for the yeaf end•d 30th Septeml>er 2025 Strn¢lure & G mance Christ Church Momlnylde is an Incumbency of the Scottlsh Eplscopal Churth In the DI0$e ol Edlnbur8h. Chrlst Church1$ 8cNerried by a constltutlon whlch Inclu¢Je5 adherence to the Canon5 01 the Scottish Eplswpal Church. Vestry member5 are responslble for the lemporal affalrs of the coneregatlon, In partlcular thÈ property and nnances 01 the Church and the appolntment of non clerl¢al Staff. The Vestry also asslsts the Rector In Matters affectSng the 5plritval welfare ol the ttn8regatlon. Vacancles lor vestry membefs la mlnlmum of three and a maxlmum of slxl are filled elertk)n ai the Annval General Meetln& and serve for a maxlmum of four years, and ale not eliwble for relecth)n for at least one year theafter. The lay Representatfve who represents the thurch at Dlocesan Synod and a Coundl meetln85 Is elected annvally by the congregatlon at the Annual Geneial Meetlng. The People's Warden Is elerted annualty by the con8re8atlon at the Annval General Meetlng and Can hold office for a maxlmvrn of fve consecutfve year5. The Rectorfs Warden Is appointed ann(t31ty by the Rector and also holds offlce lor a maxlmum of ve years. The Vestry Se¢retary ènd Treasurer are appolnted by and are ex officlo members of Vestry. The Fattor Is •ppolnted by vestry and reports to them. The Vestry has four comrnlttees workln8 to agreed Tefms of Relerence.. Standln& Flnance and Management, Property, and UK & Oversea5 Support. There are also sub ¢ommlttees for (kgon. Hospitality and Flowets. there are many more infonnal groups supportin8 VBrious Aspects of the church'i life. The Rector Is responslble for the splrrtual affalr5 of the Church and delegate5 a5pert5 01 the Churth's operatSons to lav and tydalned mernbers as appropdate arHI works closety wlth Vestry and tts commtttees In formulatlng and Implementlng pollcy for all areas of the church's life. New membery of Vestry are requested to attend a davs Irductlon Seson whlth 4lx) InrPorateS tralnlni for exlstin8 The Vestry con51ders major rlsks on an ongoln8 basls. The Vestry Is satlsfled that SVStems are In place to mana8• those rlsks. Rlsk and control actlvltles Include chlld protecllon pollcy, health and safety assessments. Ilnanclal ntrol piocedurt5 and re8ular financlal monltorln8. The Church has Insurance tover through Con8re8atlonal and The Church of Scotland Insurance Cornpany a8alnst a ran8e of rlsks approprlate to the actlvltles of a Church. The level of lrtsurance cover. whlch Is consldered adequate. Is revlewed on an annual tsa$. The oblertlves of the Vestry are to advance the mlsslon of the Chrlstlan Church. through worshlp. sepAce, educatlon, fellowghlp and outreach. These oblertives are carrled out throu8h mlsslon and pagioral artlvltles. The prlnclpal actlvftles of the Churth are pvbllc worshlp. the splrltual development of Its members and Its soclal responslblllty actfvttles. Donatlons to tharltable causes are made regularly that provlde beneflts to dlsadvants8ed Indfvlduals and cornrnunftles In Scotland, the rest of the Unlted Kln8dom and overseas. In caryln8 Out Its objectlves the Vestry depends upon the contrlbutlon. both human and materfal. of many volunteers from the congregatlon, as well Its employed staff and cl¢r8v (both stlpendiary and non-stipendlaryl. Acttvities cathed out Include contributions preparatory to and dudn8 worshlp, service on sub-commlttees and worklng groups (for example soclall and through group actlvltles (for example, pastoral care and s¢xial outreach). the m?Intenance of premlses and fabflc. and a vadety of pastoral and sttlal actlvitles Ifor example, pastoral vtsitln& Youn8 Churth and Cholrl. These contrlbutlons are all hlghly valued by the wlder congregation and a h48h propordon of member5 are actlve volunteers for both materlal artlvllle$ at Chr5st Churth and Its outreach to the wlder communSty. Supportlng the Rertor and Assoaate Rector, we contlnue to be Brateful forthe mlnlstry of the Reverend Imre Katay-Fod¢Y a5 asslstant prlest land pastor of the Hungarlan CommunEty who worshlp at Chrlst Church once a monthl and other artjve rettred members of the clerty team Includln8 Blshop Oavld Chllllngworth, the Reverend Jane Green. the Reverend Slmon Paul and the Reverend Bronwen CarlSng. The wt)rshlppln8 pattern has continued to develop and, alonlslde the weekty Sung Eu¢haAst on Sundays, Includes daify Eutharlst at 8am Monday to Frlday and a monthty senilce of Chordl Everison8. The weekly Compllne on Zoom
Chrlst Church Mornlntslde Veslry Report for the year ended 301h September 2025 ment on has contlnued and become a permanent lay-led flxtltre In the weekly paitern ol servlces. The weekly Wednesdav traditlonal langua8e Ev¢harlst at 11am ha5 contlnued to flourlsh. as has the monthly 'Cornmvnlon and Meet Each Otherf ICAMEOI partlcularly almed at older members of the commtsnlty who may not be able to attend . on a Sunday momlng. Monthty servlces In the style of Talze and Choral Compllne has been Introduced, and regular mldweek festal Evcharlsts for partlcvlar feast days have flourlshed. Katherine Even5en was appoSnted Young Church and Chlldrens Coordinator In September 2024 and this part tlme role makes a slgnifitant contrfbutlon to the management and development of actlvltles for youn8 people and chlldren on Sunday momlngs and al other tlme5. The Church Manager, Ben Wightman, works closely wTrih Christlne Johnson, who contlnues to be Invalvable as Offlce As51stant In whlch role she manages Ihe varlous booking5 by organlsatSons whSch use our facllltles. Ross Gubby, as Director of Music, contSnues to develop the cholr and musScal actlvktles of the church, assisted by Asslstant OrganSst Kat Whl8ham. After a number of ¢han8es In personnel In prevSous years. the church community 55 enloylng a perlod ol stabllity wlth no sS8nlflcant Ihanges In 5tlpendlary clerBY or employed staff In the past year. A 51Bnlflcant portlon of the Chur¢h's Investments are held In the Scottlsh Eplscopal Church Unlt TrLtst Pool IUTPI In additlon fo the con8regatlon's ownershlp of 2 houses on the slte. a flat at Maxwell Street and a Church Centre. The Hall and Centre Continue to be well used by varlous local or8anlsatlons and charltles, Includlng the Holy Corner Playgroup. The income from these booklngs is a slgnlf5cani resource to support the mlsslon and mlnlstry of the church and will contlnue to be developed and enhanced 8oln8 forward. The maln church space has also been lef ovt for various event5 and concerts and thls is a developln8 area of both revenue and outreach to the local communlty as the church becomes more of a ¢ommunity space forvarlous organlsatlons, alongslde Its prlmary fvnction as a pl3ce of worshlp. Our learnln8 and educatlon programmes cover both chlldren and families and also activities for adult5, Includin8 the Journeys in Falth pro8rarnme of talks on Sundays after worshlp land at other tlrne51 whlch has seen a number of well recelved talks durln8 the period. The chvrch ha5 been celebratin8 the 150" annlversary of Christ Church wlth a number of celebratlons. serylces and proje¢t5 to mark thls SlgnlfSnt moment In the hlstory tsf the church In thls place, whlch has been a key opportunity to celebrate ihe life and Story of Chrlst Chureh and look to the next 150 years In the on8oln8 Story. mission and mlnlstry of the community of Chrlst Church. The Vestry articulated a number of airns for the Se5qulcentenary In relation to heritage, communlty use, music, environment, and conservatlon- and varlous projects have been undertaken Or are In process. These include the reorde¥ln8 of the ffont of the church wlth the installatSon of 3 dals and moveable choir stalls and sanctuary fumlture, ro achieve a dignified but more flexible space approprlate for both worshlp and other uses. e.8. musical performance and events~various events and oncerts have already taken place. benefitting from the reconfigured space. A new sound system has also been Instèlled to better serve both congregations In worship and audiences for other events and the Church Centre roof has been retiled. Treasurerfs Re ort The results for the year showed a surplus of £20,019 Ipievlous year surplus £168,892) Includ5n8 a BaSn of E22,498 on our Investment In the SEC Unlt Trust Pool. Last yearfs s18nlficant surplu5 was due to the receSpt of legacles of £143.016 We operate slx funds and the key movements In the year are noted as follows General Fund - ¢overin8 the day-to-day actSvltles of the Church Deficit £7.410 Iprevlous year deficlt £18,555) Investment Income compr15es a ts¥lce-yearfy dlstrtbutlon from our holdln8 In the SEC Unlt Trust Pool and bank deposlt Interest. The reductlon Is due to a lower dlstrlbutlon as we sold £15.(W of unlts to fund the new sound system Con8regatlonal givlng remalned statlc at £151,308 although future years may show a drop as we have lost $18nificant Contrlbutlons from members who have recently dled or moved away.
Chrlst Chureh Mornlngslde Vestry Report for the year ended 30th September 2025 rerfs R con Rent from hall, rentre & church lets, parklng and Maxwell Street Intreased by 18.7% to £61,033. A new source of rent Wa5 from the hlre of the thurch followln8 the constructlon ol the dals and there was 3150 an Inflatlonary Increase In the rents charged to our users. Salary Costs fell by £15,496 a5 the contrlbutlon rate to the SEC Penslon Fund was reduced by 32% on 1st January 2025. In addltlon, a proportlon of Ben's costs was allocated to the 150th annlversary projects. Property costs whlch comprlse malnlenante, energy and Insurances Increased due to hl8her Insurance premlums and energy Costs. The latter Increased by £4,271 due to Increased usage. However, we are lrnplementln8 a 'hlve' system to Improve ener8y efficlencv. Quota Increased by 5.5%. It represents our contrlbutlon to Dlocesan and Provlnclal expenses and Is assessed by the Dlocese based on a three-year rolllng average of Income. Flnally, our contrlbutlon to Overseas and UK charltles Includlng the Erlc Llddell Communlty and Bethany was £14,936. A full Ilst of the charitles we sUPPOrt, and the amounts 8lven1s provlded wlth the fSnanclal Informatlon supplled at the AGM. All other expenses were broadly In Ilne wlth last yearfs costs Capltal Fund coverln8 leBacles, project donatlons and capltal expendlture lieplacement and renewal) whlch are wrltten ofl In the year they are Incurred. Deficlt £5,085 Iprevlous year surplus £159,958) Le8acles came from Ihe estates of Elspeth Baxter and Mary Smallwood. They represent the flnal payments wlth £143,016 feceSved last year. Donatlons towards the 150th Annlversary appeal to purchase new cholr benches and stalls ralsed a further £7,557 and we recelved a donatlon 01 £5,OTrJ towards the Ilghilng project. Expendlture totalled £50,169 of whlch £32,764 wa5 Incurred on Isoth Annlversary prolerts Ire-slatlnB the Centre roof, prolert mana8ement costs and depre¢latlonl. In addltlon, we Incurred lust under £17,5(Q on a varSety of smaller capltal works IncludlnB £5,585 on works In the AmbulatQryi £3,024 on a new boller for the flat at Maxwell Street and E3,103 to lrnprove the InsulatSon In the kltchen of No.6. Most of the expendlture on the 150th Annlversary project tO8ether wlrh the new sound system Is tieated as flxed asset expendlture whlch enhances the value of the Church's assets and is wrltten off over its estlmated useful life. Durln8 the year the followlng costs have been caplta115ed Dals, chancel furnlture- £58.198 Ll8htln8- £32,722 Sound System E25,2CKJ The above costs wlll be depreclated over 25 years In the case ol the dals and chancel furnlture and 10 years for the new118htlng and sound system A new fund th15 year Is for Muslc followln8 a most 8enerous donatlon from a member of the con8re8atlon. Thls fund wlll sUPPOrt an organ scholarshlp pro8ramme. The deflclt of £5,207 on the Church Centre Fund represents the yearly amount to wrlte off the orl8lnal cost of £223,(XJO. The balance wlll be wrStten off In under three years. The 8alance Sheet Shows that the Church has total funds of £963,592 comprlsln8 Centre,150th Annlversary projects, Sound System1£216,8201,flat at Maxwell Street1£375.CQOI, Investment In SEC Unlt Vrust Pool 1£257,9501, debtors, $h at bank less credStors of £113,822. Whllst the Investments noted above Increased by £7,498, the overall galn was £22.498 a5 we took the opportunlty to sell £15.CQO of unlts Ifor the sound system) and crystalllse some of the Investment 8alns made durln8 the year.
hrlsi Church Mornlngslde Vestry Report forthe yearended 30th September 2025 Resenies P 11 The Vest$ reseNes pollcy Is to malntaln resetves to meet future capSts1 and reven(te expendlture. Resirlcted reserves comprlse fund5 ralsed to construct the new Church Centre, donatlons and legacles earmarked for the 150" AnnNersary projects as well as future unspecified capltal projetts, a rnusSc fund established In 2025 and the transport fynd to provlde transport for the elderly and Snflrm. The unrestrlcted balance on the General Fund al 30, September 2025 was £507,301 and the Capltal Fund was £356,301. The restrlcted balance on the Capltal Fund was £69,145, the balance on the Fabrfc Fund Icentrel £15,622, Mu51c Fund £15,CKX) and Tiansport Fund £233. Investments are held in the Scottish Episcopal Church Unll Tiust Pool IUTPI. The Investment pollcy of the UTP, whlch accords wlth that of the Vestry, Is to earn a return on the Bssets, over ihe long ierm, sulflclent at least to malntsln ihe real value of the dlstrfbutlon to unlt holders. The church ntInueS to celebrate Its Sesqukentenary1150th annlversaryl untll 20261150 years slnce the openlng of the church for worshlpl, wlth further prolects planned to enhance Ihe church bulldln8s and achleve the alms set by the vestry lor the Sesqulcentenary- herltage, communlty use, mu51c, envlrtsnment, and conservatlon. These Include upgradlng the IIBhtln8, both wlthlt) the maln church and on the eKterloi elevatlon faclnB the stfeet. A prolert to restOTelreconstru(t some of the oi18lnal palntln8 In the thurch Interlor Is also Sn the flnal siages of plannln8 and wlll hopefully be undertaken durlng the next calendar year, Oihei potenllal project ale under dlscusslon or In the plannln8 Stage, IncludSn8 the up8radSn8 of our organ. It Is hoped that the alms for the Sesqulcentenary and the vailous projects undertaken or planned wlll mean that more people can enloy the beautlful Inlerlor, and Its uses and outreach can be enhanced. whlch wlll also Increase potentlal Income streams to support the mlsslon and mlnlstry of the church.
¢IKlit Chur¢h mprn1fvd• V•stryR•port forth• ffti •nd•d yoihS•pternb•r 202$ The members of th• Vestry •r• responslble for pr•p•rln¢ the Vestry R•port •nd the •e¢ovnts In •ttord¥NCé wlth •ppllc•ble law and Unlted Klngdom Attounilng Standa1 Iunlted Klngdom Gèntr•1 Ac¢epled Accountlnq Prartlc•}. The l•w applkable to ¢harltSes In kotland Tequlres lh• membeis of ihe Vestry to prepare •ccounis lor each riti•nd•l ye4r whlth • true and falr vlew of ihe slitt of •ffalrs ol the £hirlty •nd of the Incomlg rtsources and •ppllotlon of re50urce5 Of the charfty for that perfod. In Pfeparlni these •c¢ounts, the members of the Vestry reqvlrtd to.. g•lectsult•bl• 4¢CountI polldei ind •ppNt them eonslsi•nttr, ¢bwre th• methods bnd prfnclples In lh• Ch•Tltles Statornent olA•mmd1J Pr•¢11 IFRS 1021.. makelvdgements 8nd estlmites thal are reasonable •nd prudent,. state whether appllcable a¢¢ountln8 standards hwe been tonowed. subject to iny m•t•rf•l d•p•rturii dbsclosed and explalned In the •¢¢ounts: and epare the accounts on the 8oln8 ¢on¢tm b•sls unless It Is In•pproprI to presvm• th•t ih• Ch•rftyIl contlnue In oprntlon. The nMbErS of the Vestry are responslble ft>r keeplng actountlng records that dL%dose with reasonable accuracy •t Jny tbne the flnanclal posltlon of the tharlty and enable them to ensure that the a¢¢ounts compty wfth th• ChArltles and TrustE IDvertmenl Iscotlandl Art 2CQ5. tharitles Accounts IScotl•nd) ReylatJon$ 2Cth I•s •menddlind tho provlslons of the th•rftVs constltutlo Th members of the Vestry are 1150 iespoftslble for safwardlni the assets of th• Charfty and hence lor tawng rèasonable #eps forthe prw4en¥on •Dd delecllon olfnud ind other Irre8ularttles. The members of the Vestry •T• r•sponslbl• for th• mnnInG •nd InteKrfty of th• charfty and Ilnan¢tal InfoTmJtton Included on the thur¢W$ webslte. Le8Watlon In th• Un]ted ngdoM gDvemlTrg th• prepTrtTon and dlssemlnltton of lInand $terneDts Trw dlffer Irom leglslatlon Inother Jurtsdwonk In conduskn. the V&try $he5 to th•nk •ll rnemb¢rs of the Con8regatlon who help In so rn•ny dlfferent ways In ryEn8on th w•rkofthe Churth, wlthwtthomthesè results could not have been achleved. 8YORDEROFTHEVESTRY
IYATEIIWOF FITrW4CLILAeiM ¢ipH•l ¢•fftty• TNftpt F¥Trd P¥nd T*) Fufid Fw ioi.X4 iji.x• Ji? 34.J71 2.912 2.012 Y.911 7,914 Jjie 12Jn 14, 312 12•, 129.900 14J.412 ID, 27.211 .817 11,001 44.$57 17.ass 14,9Jl 14,MJ 14.1 4.lYQ )7 9.22$ .7,411 J07 -JJ07 11.C 4.47 135.m 22.4 ,11$ 192,213 341,179 774.ml
¢HRIST CHURCH MORNINO$IDe ALANCE SHEET Porth• y•ir •nd•d 30th S•pl•mb•r 2028 Not• 2021 2024 FIXEO ASSET8 218.820 375.LUI 257,950 113,896 37S.¢K#) 250,452 Inv••tm•nt wop•ty CURRENT A88U8 12.444 111,038 13.708 197.340 11 bink 211 012 LIA8ILinE8 CredrtLV'. •mLxth i•11thg dw *lthhi 9,058 6,827 NET CURRENT AsseT8 113,822 204.221 NET A88ET8 963 $92 FUNN OF THE CHARI UNRE8Trf¢TED FUNDS.. GèMMI Fthj C•pl•l S07,301 492.213 833 392 RESTRICTED FUNDS: Ca1 Fw MUBIC ¢•nlr• Trnrwt Fwkl 69,145 16.0fy) 16.622 223 09.352 20,829 110181 YOTAL CtrL4RITY FUNDS pj ty VthI 101h N
Chrlst Churrh Mornlrbylde Notes to the Accounts for the Year Ended September 2025 Accountln8 Polldes The accounts should be read In conlun¢tlon wlth the Annual Report. The prlnclpal accountln8 pollcles are as follow5.. Accountlng 8as1s The accounts have been prepared under the hlstorlcal cost Conventlon wlth Items recognlsed at cost or transaction value unless otherwlse statefl In the relevant notelsl to these accounts. The a¢covnts have been prepared In accordance wlth the Statement of Recommended Practlce.. Accountlng and Aeportln8 by CharltSe5 preparing thelr a¢¢ounts In accordance wlth the Flnantlal Reportlng Standard appllcable In the UK and Repub15c of Ireland IFRS 102115econd edltlon- October 20191 and the FSnancial Reportlng Standard appll¢able in the United Kingdom and Republlc of Ireland IFRS 1021, the Charltles and Trustee Investment Iscotlandl Act 2005 and the Charltles A¢¢ount5 (Scotlandl Regulatlons 2006 la5 amended) and UK Generally Accepted A¢countlng Prartlce. The Church constltute5 a publlc benefit entlty as defined by FRS 102. The 3ccounts are presented In sterllng pounds whlch Is the functlonal currency of the charlty- Golng CorKem The accourtts have been prepared on a 8olng contem basls. The Vestry have amessed the Church's ablllty to contlnue as a 8oin8 concem, and have reasonable expectatlon that the Church has adequate resources to contlnue In operational exISten for the foreseeable fijture. Thus. they contlnue to adoptthe golng concern basis of accounting in preparfn8 these financlal statements. A5 noted Vestry are aware of uncertaintles of the on8oln8 effects of the cost of Ilvlng crlsls. Vestry 3ssess the Church's ability to continue as a 80inB concern and a satisfied that it remalns appropf6ate to prepa the finanual statements on a Bolng con¢ern basls. In¢ome arml Expendlture Incornlng resources a recognlsed in the year In which the charlty be¢omes entltled to the resovrce, It Is probable that the resources wll be reIVed and the amovnt ¢an be quanrlfled wlth reasonable rellabllty. Expenditure Is accounted for on an accruals basi5. Expenditure on tharitable a¢tivities includes all tosts incurred in undertaklng Church artivities. The church b not reglstered for Vat an¢J accordingly expendlture is shown gross of Irrecoverable Vat. CapEtsI Expendlture The Churth and the propertles at Number$ 4 & 6 Momlngslde Road are not refle¢ted In the ac¢ounts. Values for ori8inal cost are not available. Vestry consider5 that the cost of carryin8 Out a professional valuation to include these properties in the accounts would be disproportionate to any additional benefit derived by users of these accounts. Slnce 21x15 311 property additions are c3pttalised and depreclated. Expendlture on the up8radin8 and refurbtshment of Chvrch properties charged as a revenue expense. Office fvrniture and equipment in excess of £4C(l and hawng a valve to the Church 8reaterthan one year are capitsllsed. Depreciation Is provided on all ffixed assets at rates calculated to write off the cost. less estlmated residual value of each aet er Its expected useful Ille as follows. Property Furniture and Equlpment 4%- 10% Stralght Une StralBht Une io-
Chrlit Churth mom1$[de Note¥ to the A¢¢ounts for the Ye*r End¢d 3 September 2025 Investments Investments In Un tnjsts are Include(I In the accoLtnts at market value. The Investrnent Property at Maxwell StreeL Edlnbvr8h Is shown at estlmated market valve based on the prlce of 51rnllar propertles sokl on the open Market. Reallsed galnsllosses are calculated as the difference between the net sales proceeds and thelr valvation at the rtart of theyear and are reco8nlsed In the ststement of finandal actmtles In the year of disposal. Vnreallsed galns and 5osses represent the movement In market valuation during the year and are recognlsed In the statement of financ5al actSvlties based on market valuation at the end oltheyear. Penslon Costs The Church fund5 penston contributlons for certain employees to the SEC Penslon Fund a defined benefft no contrlbutory penslon stheme. Contributlons are charged to the Statement of Flnanclal Actmtles $0 as to spread the cost of penslon5 overthe employees, worklng lfves wlth the Churth. Stock Stock Is stated at the lower of cost and net reallsable value. ToxatloTh The Church Is a reglstered Scottlsh Charity exempt from rpOration tax on income and 8alns applied to charitsble purposes. Income tax Is recoverable In rPect of glft ald donat10. Operatlni Leases Renta15 payable under operatlng leases are chargeable to the Statement of Flnanclal Actlvltles as Ineurred over the temi of the lease. Flnandal Instruments A flnanclal a$5et or a financlal114blllty is recognlsed only when the charity becomes a party to the contractual provisions of the instrument. Baslc financial assets, which include debtors and cash and bank balan¢es. are initially re¢oBnised at the transaction prlce, unle55 the arranBement constltutes a flnancin8 transactlon, Whe it is reco8nlsed 8t the present value of the future payments discounted at a market rate of interest for a slmllar debt instrument. Baslc flnanclal Ilabllltles. whlch Include other creditors, are Inltlally recognlsed at the transartions prlce, unless the arrangement constltutes a financlng transactlons, where itls Teco8nlsed at the present value of the future recelpts dlscounted at a market rate of Interest for a slmllar debt Instrument. Debt Instruments are subsequently measured at amortlsed cost. Flnanclal assets that are measured at C05t or amortised cost are revlewed for oblertive evldence of Impalrment at the end of each reportlng date. If there Is oblectlve evldence of Impairment, an Impalnment loss re¢oBnised In profft or10s5 Immedlately.
Fwld Trl 2024 Pthj 179 m 14S4tr2 f45 104* 1044• 1 104 164 13 i)Jv 37 J407 4.170 3•37 JQ34 116.162 12J.141 1).2C• ID.8Jo JSS)
A•• I(• .31¢ i•r.gJo 11.4M l142 Ik7.•7• 12 Al IfJ•O .1gL 21.7 Tgyj Q2 VATMdll 740 ¢Jo Tatyi 21 14JsJ 199 iiJt2 -1
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INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF CHRIST CHURCH, MORNINGSIDE FOR THE YEAR ENDED 30 SEPTEMBER 2025 I report on the accounts ofthe charityforthe ye8r ended 30 September 2025whlch are set out on pages 9 to 16. Th1$ report Is mede to thetrustee8, 88 a body, In 8ccord8ncewlth the terms of my eng8gement. Mywork has been undertaken to enoble me to report my oplnlon 09 9et out below 8nd for no other purpose. To the lullest extent permliied by law, I do not accept or 88sume r6$pongibility to anyone other th8n the Ch8rlty and the trust888, a8 8 body, for mywork or for thls report. Ro$po¢tlve r08ponslbllltles of tru8toes and Independont examlnar The charlty's trustees are responslble for the prep8r8tlon of the accounts In accordance wlth the terms of the Charltles and Trustee Investment IScotl8ndl Act 2005 (rhe Actl and the Charities Accounts IScot18ndl Regul8tlons 2006 las 8mend6d) Ithe R8gulatlonsl. The charlty trustees conslder that the 8udlt requlrement of Regulatlon 10111 la} to Icl of the Regulations does not apply. It Is my responslbllity to examlne the accounts 8s requlred under sectlon 44111 Icl ofthe Act and to st8te whether particular matters have come to my8ttentlon. Basls of Independent oxamlner'• itatoment My exemlnation18 ceriled out In accordance wlth Regulatlon 1101 the Regulatlons. An ex8mln8tlon Includes 8 revSew of the accounllng recordg kept by the Charity 8nd a comparlson of the accounts presented with those records. It also Includes consider8tlon of any unusual items or disclosures In the accounts, end seeks explanatlons from the trustees concerning any such matters. The procedures undert8ken do not provide all the evldence that would be requlred In an audit. and consequently I do not express an 8udit oplnlon on the vlew given by the accounts. Indepondgnt examln•r'$ 8tatom•nt In the course of myexamin8tion, no matter h88 come to my attentS0n: which gives me reasonable ceuse to bellev8 that In any materlal re8pect the requlrements: to keep accounting records In accordance wlth Sectlon 44111 lal of the 2005 Act end Regulotlon 4 of the 2006 Account8 Regu18tlon$; and to prepare accounts whlch accord wlth th8 e¢¢ounting records 8nd complywith Regulation 8 01 the 2006Accounts Regul8tlons' have not been met: or to which. In my opinion, attentlon should be drawn In order to enable a proper understandlng of the accounts to be reached. SILVUL SMILi6 Steven Smllll8 CA Chlene +Talt LLP ITradlngas cn Chartered Accountants and Indop8ndont Examlnor 81 Dublln Stleot Edlnburgh EH3 6NL Date: 03 D•cemb•r 2025