EAST NEUK TRINITY CHURCH OF SCOTLAND Congregation Number.. 261557 Scottish Charity NumIr.. SC003163 Trustees, Annual Report and Unaudlted Financlal Statements for the year ended 31 December 2024 www.eastneuktrinity.org.uk
EAST NEUK TRINITY CHURCH OF SCOTLAND Report and Unaudited Finanelal Statements lor the year ended 31 December 2024 Scottish Charlty Number- SC003163 Contents Pago Trustees, annual report Independent Examinerfs Report to the Twslees Statement ol Financlal Activ((ies Baance Shgel Statement ol Cash Flows Notes forming part ol the Finan¢iJ Slalements 10-18
EAST NEUK TRINtrY CHURCH OF SCOTLAND Trust8es' Annual Report for the year ended 31 December 2024 Tha Trusta8s pres8nt their annual rwJt aryj finarKial slat8rn8nts of the charity for the year 8ndod 31 08C8rnber 2024. The financial siaiements have been prepared in accordance with the accounlino policies sèt out on pages 10 and I l and comply wilh the General Assembly Regulations for Congregational Finance and the Charrties and Tru5t88 Investrnenl Iscoiiandl Aci 2005, Ihe Charities (Scollandl Regulation5 2006 las amendedl and the Reptsrting by Charities.. Statsmeni ot R&ommended Practice applicable in the UK Republic ol Ireland effective from 1 January 2019 IFRS 1021. Objectrves & Activities The Church ol Scoiiand is Trinitarian in do¢trin8. reform8(J In tr8dthon, and Presbyterian in polrty. li exists lo glorify GI and lo work for the advancement of Christ's Kingdorn throughout the world. As a national Chureh, Il aCknO¥edgeS a disiinctivg call and duty to briw the ordinances of l10n 10 the people in every parish ol Scotland Ihrough a territorial ministry. 11 co-operales with olher chjrches in various e(JJmèTrl bodies in Scotland aniy boyorKY Tho aim of East Neuk Trinity Parish Chui¢h i8 to domonstrate to the community. and those lurlher afield. Knowledge of God. a Love of Community, and a desire 10 serve Peoplè. This is 8nacled in Ihe missional work undertaken thrc4Jghoul th8 week as well as Sunday worship. Worship is corducled on the first and third Sunday of the month In Elle Church, in Kilconquhar Church on the second and fourth Sunday aTh, when thoro is a fifth SuThYay in the month, the Hopacafo Church is held in Collnsburgh TLMn Hall, a s8rvice in whh the congregation Eroaggs in disojssion. and aciivitS that help to explore the go$ ancl learn from each other. Additional worship servlces are also offered during Holy We anL1 Christtnas, a5 as Celealing the Sacramant of Hoty Cornrnunion regularty thr(ghOut the year. W9ddinos and funerals. a150 took pl Ihroughout the y8a¥. The congregation ol East Nèuk Tnnlty has ¢(nUe0 In vacanc In this IAst year. Ih8 pansh and Sèssion have bcen vory well Support and guided b a5 Interim Mcéerator. The ¢ sad at leaving to lake up a Position in Presbytery In NovÈmber Fife Prasbytèry appoin as Inlerirn Moderalor. Achievernents & rforManCe Congregational worship arvj rnissional activilles ¢oniinuod throughout 2024, driven by the vuour aTrJ gnlhusiasm ol the Kirk Session and congiegation. An online presence conlinu8d throughout the year. wilh a steady number of engagemenis each wèèk. SuThlay SeNices conlinued to be 51reatned on YouTube with average vièws in th8 region of 40-50. Meantime, wllh the SUFPOrt of minigtèrs who have provided pulpit supply, East Neuk Tnnty has continuJ to find vlays to engage in intergeneration worship wherever opporbJnities have presented themselves. The Session and Congregation have been acllve in working toward Co[ng logeihgr wth adjoinitvd parishes in lin8 Wth the Presbytory Misson plan. Tho HopeCalo@ brandiThJ, originally coined to crgate an online community duriNJ COVKI. remains ard eOMpasseS various events throughout the month.. including lortnighlly Iriandship lunches, café church, aNJ 11¢8 compary OpponitieS to addfess lorteliness arKI isolation. A ¢ommrtted team, ttlade up of eld8r5 arKI mernber8 of the COnggaI)ITr, continugd lo visrt the IcKal care home on a monthly basis, where they lead roslljenis in worship. Tho staff have been very welcoming and hdpful durlng these vtsrts.
EAST NEUK TRINITY CHURCH OF SCOTLAND Trustees. Annual Report for the year ended 31 December 2024 Outreach work erteIed in 2023 and continues in 2024 with the Nèighbourly Natters group. a n)nthlY initiative in Kil¢onquhar. offering an opportunity for friendship, fellowship. cotte8, ar cake In an infomal drop-iri environment. Held on the second Monday of each month in the South Hall, the numbers attending was extremely posibve. The busy 'What's On, rnonthly calendar, pioduced by the Church Administrator. each fflonth covers all ¢hur¢h activitts ak)ng wth Bible Studies, Prayei meetings. quiz nights, and other ad-hoc events. A monthly newslett•r is al50 emailed out to Ihe congr6gat¥)n. k88ping everyone up to date with events. This Is also posted on the church FaCebk page. Flnanclal Revlew The Church continues to be In the position ol continuing to have a strong balance sheet trAJt was inevitably impacted in rec&nl yeais by ability to eollect and raise income dunng the pandetnic, 85p8cialty when our lIdIng$ w¢ra clos8d. Our incoffle Irorn donations and legacies decreas8d to b8 £58,283 12023 - £93,623) Incofflg Irorn charitable activities lor thè year was £7,13512023- £8,533) Whilst we eonlinue to endeavour to ¢urtail our 8XP8ndittJr8 and collect monies In Other way5 than Irorn service collections, we also have lo balance the nee(1 to support our community and look al other OPkKlrtunitie5 to do this. Our net unresiricted fund p0511ion at the year end was a surplus of £53,90812023- £17,254). We continued to keep trTrernbers of the congregation informed about our financial FOSition and the level of the off8rings r8C8iV8d. We hope Ihai an ongoiry greater urnlerstancfing and appreciation of our financial Position will encourage everyone to think calU11Y about the nare level of their financial 5UPPOrt lor Ihe Church. Wrth the volatility we havè sten in Ih8 Stock rnarkets due to Ihe oTrJoing Political Tensions across the Glo we Cannot rely indefinrtely on the incotne and eapital b8neh.ts arising frotn the goodwill of previous ggn&rations lo continu8 funding ongoing activities. In th8 year lo 31 December 2024 the IOrne, b&fore gainsnosses on inv8slm8nls, was £9,615120¥J- expenditure of £2,230). r total funds IN81 As58ts1 at the year-end amounted to ££771,091 12023 - £710,857). an inerease ot £60,234. Our regukr Iyonations incotn8 decreased modestly as has been an ongoing trend for some years previously. In this regard anij given our linancial challenges and in line wilh the Spiritual vision for our church, we ale looking carefully at the continued suiiabilily ol each of our properties and restricting expendiknre on the fabric to items of absolute necessity only We began renting out the Manse in the Swing 012024 to recov&r some of the ongoing costs of keeping four buildings and as il will likely lie empty for a number of y8ars lo come. This rental Incom$ has hèlped our Incom8 this year and we have not hAd to diaw upon our Market Investments for Capital loi cashllow wrposes In 2024. The nutnbei of buildings we need lo maintain is Siill four but our buildings remain a big draln on eapital. In 2024 significant decisions on our properties in line with the Presbytery Mission PLqn were made and we are beginning to look at a plan to redevelop Elle Clvjrch Hall. A9ndIX 1 to the accounts sets out th8 fU[S held at 121 George Street. Taken together and supplernented by the po&8ibilily ol funding support from the General Trust&es and OJI memb8rs, we are in the fortunate position of being able, should we wish. lo ¢onsi¢er embathing on a maioT investrneni in our Church as part of a realignment ol Our property wrtfdio and In support ot our vision of 'etTrgaging with the Goo(J News of Jesus Chri81'. The transfer ol funds bad( lo our pyevious knnkage Partnets St Monans for the Mans? A¢quisition finally took plac8 in 08cernber 2024.
EAST NEUK TRINITY CHURCH OF SCOTLAND Trustees. Annual Report for the year ended 31 December 2024 While significant ehaller¥Jes r8main, an¢J nob¥ithstaThJing the ongoing econornic and th'nancial restr¢tions of the global srtuaknon, we are committed to meeting them with aS that will invigorate worship a rniS8ion ol our ¢ongregation arn1. as a result, we hope, will inspire our community aiso. Investment Poll¢y and Pertonnanee The Inv8strnent wlicy of the trusteès is to seek capital and income grovrth through a spread ot investtnents to gen8rat8 funds to support the activib'es of the Church. Our Investment rortfolio feature5 substantial porttolio with Rathbon8s and also units In the Growth FutKS ol the Church of Scotland Investors Trust whKh is ultimately managed by Newton Investtnent Manag8m8nt. The restricted and unrestricted wrttoli05 are rnanaged under a discreknonary rnandate by our stockbfok8rs. The risk profile of the restrided fund portfolio continues to b8 as 'rnediumlhlgh' 10 reflect the fairly high equity content and the inv88tm8nl obje¢iives agreed by the trustees. Th8 classification lor the larger unrestri¢led wrtfolio Is classified a5'capitsl bias. as the priority on these funds 15 to grow the capital value whilst still allowing lor incom8 should this be iaquir8d. The truste8s reviewed Ihe investment perforrnance during the year arKS are salisfied with th8 current perforTnance against the abov& objective$. Risk Managernent The trustees have assessed the major risks lo whid) the charity ks 8xposed and se8k lo adclress them with appropriate action. Risks are rewew8d r8gularly and ¢hanges to procedure applied as appropriate. The prirtipal risks tac8d by th8 charity lie in raising sufticEnt income to balance the general fund. the performance of its investwents and in iecruiting and relaining Irusiees and office b8arers wth the revant skills and exp8r1ee nee¢Jed by the congragation. The risk of falling income continues to be of conrn, never more so as w8 see financial pressures on inv65tment Tnarkets and dornest households. The trust88s consid&r the variability ol investment retums from the porttolio 10 be the eharity's tnajor financial risk. This risk Is mitwaie(* by the appointment ol expert professional advisors wilh considerable 8xpeiience in the charity se¢lor. This action wovides cost 8ffeclive tnanagem8nt and assists in providing a predictable 18vel of incom8 to contribute to Ihe programtne of charitable activities and services. That sai¢ we anticipate 2024125 01 being an ongoing period ol significantly turbulence In the markets so cannot rule out th& need lo release capital from our investments In the coming year. Reserves Policy The charity Iru5t8e5 hav8 cor6ider8d the resetves QUid a1 hav8 lakan in to 8c¢ount their current and lulure Ikibilities. 11 Is the Irusiees. policy to hokl free cash reserves ol apwoximately three Months, expenditur8, 8xcluding designated funds. At the year end, the church held unrestricted income funds of £695,01312023 £639.2071 ol which £28,823 was In freely available nel current assets. Within this total, £36,350 was held as designaied funds within the Church of Scollan¢ Fabric Fund 12023 - £36,350). Total cash on deposit and in hand at the year eryJ represents over three [rnthS ol total expenditure. The church also held £76,078 12023 - £71,650) of restricted iOrne funds which have been provid8d for the purposes as specifi'ed in note 13. At thg year end, the ng1 assets carried forward amounted to £771,091 12023 - £710.8571 of whh £3,846 12023 - £5,093) compris8d tarole fixed assets used for CharItae purposes and £708,678 12023 £666,223) was held In fixed asset InVestts.
EAST NEUK TRINrrY CHURCH OF SCOTLAND Trust88s' Annual Report lor the year ended 31 De¢ember 2024 Struclur• Govtrnance & Managemènt The IngregatIon is a r9giSte charity, number SC003163 and is now administered urKler the Unitsry Consbrution subj8cl lo the Acts and Regulats"ons of the Church of Scotland. Members ol Kirk S88si0n wer8 and aro th8 charily trustoas. The Kiik Session members ar8 the ddors of the Church and are chosen from those members of Ihe thurch are considered to have the appropriaie gifts and skills. The Kirk Sessron Is chairad by th8 Minister or durlThJ any perlod of vacancy by th8 Intgrirn Moderalor an m881s six kntr*s a year and Informally as required. The Kirk Session is sPonb lor the spiritual and témporal alfairs wilhin the church. MembeTS of the Klrk Sesslon 98 Tw$tees Offiee Bgar¥r• Inierim Moderator Sèssion Clerts Church Treasurer Principal Office and Charity Number East Neuk Trinity Church, Church Hall, .rkpark Road, Elb KY9 1 DG. Charrty AegistratK)n Nurnber". SC008163. miner HerKJerson & Black, CneV Hous8, 149 Matket Street, St AThJtaws, Frfe KY16 9PF. Bankers The Reyal 8ank ot ScollaThJ 23125 R0s51yn Slreet, Trfjrkcaldy. KY1 3HW,
EAST NEUK TRINITY CHURCH OF SCOTLAND Trustees. Annual Report lor the year ended 31 De¢ember2024 TTrvste&$' Flo$pon91bllltl•s In Rdatlon to the Financlal Stat•Thnt• Tho Charity Trustees aro rosponsiblo for pr8ping truste8s' annu report and finwial stat8m8nt3 in aceordance with applicable law and United Kingdorn AccouniiTvJ Slandard5 (United Kingdom Genefally Accept8d Accounting Pra¢ticel. Th8 law appluble to charityes In S¢otlanO requlres trpo charlty Irusièas lo prgpaFe financial statements for each year which show a true and lair view of the slate ol aftairs of the charity and ol th8 incorning r850urc8s and aw>lulion ol resources ol the charity for that P8riod. In prepariw the financial StatSnts, the tru51ees are requir8d to.. Select surtable accounting pdties then apply consistently., Observe the method and prin¢iples in the applicable Charities SORP., Make judgèments and estirnates that ar8 r8asonable and wudent.. Stat8 whether arplrable accounting star¥Jard5 at¥J statements of recomrnended prathico havè boen followgd, subject to any d8pathJr88 disdose(J and oxplained in Ihe finencial statements., Prepare the financial statents on the going concein basis unless it is Inappropriatg to prèsume Ihat the charty will continue in operational existen¢e. trustees are responsib for keeping proper accountiro records whth th'scbse with raasonab18 accuracy at any time th8 finala1 rx)silion ol the charity and to enable Ih8m to ensure that tho financial Slaiements comply with Ihe Gharrtie5 a1 Truslee Investment (Scotlandl Aci 2005 and th8 Charities Aecounts Iscotlandl rggulalions 2006 la$ amended). They are a150 responsib18 lor safeguarding the assets of the charity and hence lor taking asonable steps for the pr6vèntion and detection of fraud and other irregularitie> The trusiees are iesponslble for th8 tnaint8nance and integrity of the charlty and financial inforrnalion on th8 congregalion's website Legislation in the Uniled Kingdom governin9 the preparation and disseminabon olfi"nanaal ststem8nts may differ fiom legislation In othar iurisdictions. rov8d b the Trustees on 12 Ma 2025 and si ned on their behalf by.. Church Trgawr8r
EAST NEUK TRINITY CHURCH OF SCOTLAND Stalwnent ol Flnanclel Aetfvitlos lor the year ended 31 Decembgr 2024 Unrtrstrlcled Fut)d$ 2024 Regirl¢t8d Fundg 2024 Vnrestrictsd Re8lvt¢ted Fund Fundy Totsi 2024 TOMI Inme and tndowments from.. Donations and lèga¢i8$ charitab aclivilies Invtsimenl inc(xn8 (Aher 53,715 7.135 35.132 15.3fl) 4.568 58.283 7.135 36.490 15.360 86.342 8,533 17,054 7.281 93.623 1,358 18B98 Total income 5,926 117268 Expendlture on.. Raising lund5 Chariiabb actli1&S 4,179 101.070 243 4.422 103.231 3.545 119.4&5 230 1,030 3.775 120.495 Total expendlture 105.249 2.404 107.653 123 010 124 Net Ineofflellexpendltur•l belore gains on Inveslment$ 6,093 3.522 9,615 I10,0> 7.865 122901 Nei gains on invosimeni$ 47,815 2.804 50.619 27.349 1.895 29.244 Not Incom 53,908 6,326 60.234 17.254 9,760 27.014 Tianslers between 1.898 1,698 6236 Net mo¥$ment in funds 55.806 4.428 60234 23.4 3,524 27.014 Ra¢onclllatlon ol funds.. TO1 lunds brouohl loTh¥ard 9.207 71.650 710.7 615.717 68,126 TO1 funds carried for¥vard 695,013 78.078 771.091 639.207 71,850 710.857
EAST NEUK TRINITY CHURCH OF SCOTLAND Independent Examlner's Report to the Trustees of East Neuk Trinlty Church of Scotland I rerA)rt on the ac¢wnts of the charrty lol the year eTrJed 31 Dember 2024 whKh are Set out on pages 7 to 18. Respectlve Respon$lbllllles oi thè Tru$tee# and Exarnlner rhe charty's trustees are reSponsie lor the preparation of th8 accounts in aCCordae wrth the lerms ol the Gharities and Trustee Investment Istollandl Act 2005 and thg Charitl8s Accounts (Scolandl Regulation$ 2006 las amended). The charity tnjsiees consider that the audit requirernenl of RegLJlalion 1011llal to Icl of the Accwnls Regulatlons does not apply. It is my rgsponslbllity io examlnè the accounts as require(J undor section 4411 Ilcl of Ihe A¢t and to state whelher particUr matters have to my attention. This report Is mada to Iha trust88s, as a bDdy, in 2ccordan¢• wlth tha torrn¥ of my engag@menl. My VK)rk has been undertaken so that l might State lo the trustees Ikose matters l am iequiied to State to them in an irKJ8gendent examiners report and lor no othèr purpos8. To th? fullest 8xt8nl parmitted by law, I dD not accept or assutne r¢5ponsibilily to anyone Diher Ihan Ihe charity arKJ the Iruslee5 lor rny work or lor this report. Ba$ls of Indendent Examiner's Stat¢m¢nt My examination Is Carried out in accordance with Regulation 11 of tho Chariti8S Aeeounts Iscollandl Regulations 2006 las arn8nd8(Jl. An examination Include5 a ievi8w ol Ih8 accounbng records kept by the charity a ¢ompaiison ol the accounts presented with those records. It also indudes considor8tion ol any unusual items or disclosures In the accounts, and seets explanations Iiom the trustee5 concerning any such matters. The procedures urnlertaken do not provide all the evidence that WOU be wuire(l in an audit. and consequently I do not 8xpr85s an audit opnion on the wew given by the accounts. Independent Ex8mln•r'# Statomont In the course of my exarnlnatlon no matter has eorng io my attention:. %¥hlch gives ma raasonable cause to believe that in any matenal reS¢t thè r8quirem8nts'. lo keep accounting cordS in accordan¢e wilh Slion 44 11llal of Ihe 2005 Act aTrY R8gulation 4 of tho 2006 Ac¢ounis Ragulations, and to prepar8 accounts which accord wrth the accounting records aTrJ cornrAy wilh Regulatlon 8 of the 2006 P¢counts Rogulations hav8 not b88n met. or 2. to which, In my opinion, attenb'on should be drawn in order to enle a proper understandiThJ of the accounts lo be rehed. 149 Atrrket Strg8t St. Andrews Flfè KY18 9PF HgrHl8rson Black & Co Chartered A¢countants
EAST NEUK TIINITY CHLIRCH OF SCOTLAND B•l8nco She818131 December 2024 Toi•l Unw#trfc Fund8 20>3 JleBtrIGied Fund Tot4[ lundi Fd> IFund FJW Awls Tawie FiJ 10 46.334 46234 708.678 712.524 43,418 43.418 666,22J fj66.1 627.8 CXKv•nt Ir$ Cash on d8PQ>taré In haro S,265 2.509 20,424 3.789 29. tknb11115• CrMr 28.822 895.013 29.744 76,UTe SU.567 7T1.tt1 IT,305 039207 39 710,V57 71.69) Rewe•fviedby.' Restmcieo 13 76078 71.fj Unr••wkt•d Incowolund• 695.013 ToialFund* 71OB57
EAST NEUK TRINITY CHURCH OF SCOTLAND ststement of Cash Flows for the year ended 31 December 2024 Total funds 2024 Prlor Year 2023 Note Net sh u$ed in operaling activities 30,854 13,880 osh flow$ from Investlng actlvltles.. Invéstrn8nt income Payments lo acquirg targitle fixed assets Proeeeds frorn sale of investrnents Purcha$6 of inve5tTnents 36,490 18,898 16,2361 39,360 38,519 13,503 81,957 73,793 44,654 10 Change in cash and cash equlvalonts In th• y¢or 13,800 11771 C•$h and 4ul¥alents brought lo8rd 44,433 44.610 Cash and cash 8qUIvanl$ carried forward 58,233 44,433 Cash and cash equivalents eonsist of bank and cash balances. Analysls of changes In net debt 2024 2023 Cash at 1 January 44,433 44,610 Cash flows in year 13.600 11771 Cash at 31 December 58,233 44.433
EAST NEUK TRINrrY CHURCH OF SCOTLAND Aceountlng Poll¢l&$ lor th& year ended 31 December 2024 1. A¢¢ouniing Pollcles The pn1p accounting pvlicies, thich have been appl consiswntly in ihe ¢urteni and preceding year In delf) wlh itèms are considered material to the accoun1$. are soi outbokjw. Baala ot preparntlon The finan¢ial $lalernents have been prepared in accordance 4%ilh Accounbng aNJ R8Fx)rbryJ by Chanles.. stat91 ol Recornrngndad Pract$ applicable 10 ¢haiilio$ prèparillg their accounts In accordance Wilh th Finarbcial 9>Tng Standards arvIlca6 in th8 UK Republic ol Ireland IFFIS 10218118¢1$ Irorn l January 19 and the Finantyal RtportiDg Standard appliraNe In the UK and H&putli¢ ol Iroland IFRS 1021, the Charities and TTuslee Investment (Scollandl Aci 2005 and Charibes AcGounts (Scollandl Regulations 2(M)6 las amende(11. East N8uk Trlnlty Church ol Scoland constitulBs a public bgn8fil enllty as dellned by FRS 1W2. The finarKial staternents are prepared in povnds $18dino. Ythich is the luncbonal Cufrency ol onoty. and the amounts pDrted are rounded lo noai8s1 wund. The trustees coner Ihai there aro w immediato ufKertainligs abDuI charws abilKty continuè as a go concem. Furd aecounling FuS aredassilied as either restrlcied lund8 or unmn¢t funds. delined as lollows'_ Restri¢18d lund6 arè funds sutyecl lo spe11C requir$m&nts as Iheir u58 whKh fflay be dedared by the or or wiihtheir aulhontyor¢reated knrough legal pro¢8ss&s. bul sbll wthin the %%iderobjects ol Ihe chanty. UnreslriGted funds are expendable al Ihe discretion ol Ihg Iruste8s in lurtherarKe ol objects DI the ¢harfty. If parts ol Ihtr unreslriGtgd funds are eamiark8d al Ihg dl8treli ol the trustees IOT a patbcular wrpo. they ar dèsignaled in a separate lun¢. This desnatn has an administrative pur59 only and does not legally rèsiriGt Ihe Irustee8' (JL8crelion ro apY ihe lund. Incume Income Is recognised when thè charity has onliement to tho fuThY$. any p•fomart• condiiKJns attached lo the i1{SI of irtomé havè bÈgn rnol, it 19 probabl8 that the IrKome Will b6 received and the arnounl can be measured reliably. Dalerned Income When Income is rKYed In advanc9 of Ihg suprAy ol 8ce lusudly hir& ol faciithesl, il is dgterred unbl the chanty has suprJieO the S¥te. Expendllure Expendiiuro is r8cognisod an aeLYua15basis as th8 liabllltyls Incurred. Donaled ¥er¥i¢es and facllllks Oonaled prolessional SerV9S and donated lacilibes are wryni$8d as iro)rn8 Ihg charity has control ovor Ihtr item, any conditions asso31 Wih the thnaied i18rn havo boen mèt. thg rgcgipl of economic tn&lll liom Iht US8 by #ie ¢h&rity ol Ihe item Is probabl8 and that ecDnomic benefit ¢an be measurod reliabty. In a¢¢ordaTKe Yth Ihe Charities SORP IFFiS 1021 ihe g8neral lunteer time ol Congregation membais is not recogni5£d. On roceipi. donated professioll sgnAcgs and donal8d la&li118s are r09n on thg basis of Ihe value ol Ihg 10 tho chaTrty vthich Is amouni the Chadty woukj havt b8èn ¥1110 to pay to obtain services or lacililits ol equivalent gconomic ben811 On the open rnarket." a corresponding amounl Is Ihen recognised as txpendilure in the period ol re¢8ipi. Inioro&1 roc8l¥abl Inleresi on n8 h8ld on deposit is includ8d when reWable and the amoJni can bg measurod reliably by the Chaniy, this Is normally upon noiiliration ol the Interest paid orpayatle by it financial in51itubon.
EAST NEUK TRINITY CHURCH OF SCOTLAND Accounting Policies for the year ended 31 December 2024 Accounting Policies Icontlnued FIx8d assets The charity has t right lo occupy and use for its charitab18 objects Certain tangible fixed assèts, includiTrJ the Churches and manse, vested in the Church of Scotland General Trustees. No consideration is payable for Iha use of these assets. Expenditure incurred on Ihe repair and maintenance ol these assets is charged as expenditure in the Statemeni of Financial Activities in the rrfJ In whleh the liability arises. The only tangible propErty asset owned by the charity is the hall in Kirkpark Road, Elle which is vested in thè Ministgr and Kirk Session as Trusiees for the congregation. The original cost of this hall is unknown and it is very difficult lo arrNe at a value on a curr8nl use basis and so no value is assign8d to it in these financial statements. All tangible fix8d assets costing in excess of £2.500 having a value to the charity greater than one year. other Ihan those acquired for specrfic purpose5, are capilalised. Depreciation is provjed on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over Iheir estimated useful lives.. Fixturès, liitings and office equipment 5 years Imiestments Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains aThJ losses represent the difference between the mark81 valu8 at the beginning arKY end of the financial year or, il purchased in the year, the dilleren between cost and rnarkel value ai the èThJ of the year. Fiealised gains and losses represent the drfterence between Ihe proce&Js on disKN)sal and the market value at the start of the year or cost il purchased in the year. Flnanclal Instruments Financial instruments are cognised in the ¢haritys balance sheet when the charty becc*nes party lo the contractual provisions of th8 instrument. Baslc finanoal assets Iwhich include debtors and cash and bank balan¢esl arKY basic financial liabilities (hvhh ilUde Gredilorsl are Inltially measured at the arnount re1vable or payable including any transaction costs and are subsequently carried at 8rn0rtised cost using the effective interest rnelhod. Basic linancia assetsllbabiltles, ¢lassrfied as receivab1e1payab within one year, are not amortised. Taxation East Neuk Trinity Church of ScodaThJ is recognised as a charity for the purposes ol applicable taxation legislation aThJ is therefore not subject to taxation on ils charltable activitiès. The charity is not registered for VAT arKI expenditu indudes irrecoverable input VAT. Judgements in applying a¢¢ountlng polleles and kèy aourceg of estimation In the application of the charity's accounting policies, the Irusiees are required to make judgernents. eslimales and assurnptions about the carrying amount ol asse15 and liabilities that are not readily availatA8 from other sources. The estimates and a5sooated &ssurnplions are based on historical exp8rience and other factors Ihal are relevant. Actual results May diller from these estimates. In prèparing these financial stalemerns, the trustee5 have made the following judgements.. Accru&s Trustees estimate the requirements for accruals using post yèar 8nd information. This ideniils costs that Arè expected lo be incurred lor service5 provided by ottr parties. Accruals are only released when there is a reasona& èxp8Ctation that these costs will not be invoiced in the futyre.
EAST NEUK TRINy CHURCH OF SCOTLAND Nolo$ formlng port of the fln*n¢lal slatements for tho yoar ended 31 D8c8mber 2024 Unr8stried Funds 2024 RèJtr4cted Fund8 2024 Unrestrl¢l•J R08trfeted Fund5 Fund$ 2023 Total 2024 Totsl 2023 2. rJon•llon$ and LogacJe8 Gift Aid donations Ordinary Offerinos (Open Plai81 Tax reco¥ere(J Gitt Donations Irom Glasgow Trusi Donations for MwarKIi Donations and sunthy incorne Legacies 30.063 8,061 9.285 30,063 6.061 9,285 1.896 2.326 6.541 32,608 5.752 9.636 32.608 5.752 9,636 5,203 1,450 8,874 30.000 93.623 1,898 2.326 344 5,303 1.450 528 6.197 2.109 53.715 8.346 4.568 7.281 3. Inwrno fr+)m ¢h8rltsblo 8¢tlvlllo8 Fundraisin9 Events Wethjings and lunerals Church Guild Use ol Premises 346 2,895 346 2.895 432 6.225 904 972 432 6,225 )4 972 8.U3 2.784 7.135 2,784 7,135 4. Invostmont Income Invesltnenl income Interest on deposits Property rent Inetl 19.301 1,254 104 20,555 333 15.602 S6.490 16,720 334 1.767 18.487 411 15,602 35.132 1.844 18.898 5. Qthor Incom Church ol Scotland FabTiC Fund 15.360 15.360 15.360 15.360 986 986 986 986 12
EAST NEUK TRINITY CHURCH OF SCOTLAND Jte¥ tormlng part ol the Ilnan¢lal ststements for the year ended 31 De¢eft)er 2024 Unrestricted Ae8trlcted Fund8 Funds 2024 2024 Unrnsirleted Reslrlcted Funds Fund8 2023 Total 2024 Toial 2023 2023 6. Analy818 ol Expondlturo Aai¥ing Funds Invesimenl management exra$ 4,179 4,179 243 243 4,422 4.422 3,545 3.545 3,775 3.775 Charltabl• Actlvllles Giving lo Grow albcalion Prèsbytery dues Pulpil sup¥ OttEr salary costs INole 71 Ministèr's Irtvelliiwj Èxpensès Telephone & iniem&i Fabric repairs and mainlenance Plans8 repaiis malnianance Janse covrcil lax Memorial garden expenses Insurance HÈaiing and lighling Church music & communion expenses Church Guikl Church ollitÈ èxpÈnse5 Payroll seNIC&S Charilable (k)nalions- Iand1 Bank charges Independent Exarnir$ lee Depreualion 27,967 1.573 4,855 29.041 825 2,540 2.701 1,235 27,967 1,573 4.855 29.041 825 2.540 2,701 1.235 40.600 1.$42 1.606 33.036 2,187 2.604 5,964 1.898 40,600 1.542 I,fA)6 33,038 2.187 1,898 683 454 6.686 6.872 2,450 1,238 7.240 494 8,919 9.555 950 945 7.¥25 440 6.919 9,555 950 945 7.925 440 2,161 236 2,016 6.686 6.872 2,450 1.238 7,240 494 2,161 576 336 2,016 247 101 070 105.249 300 1.830 247 119.465 123.010 1,830 103231 107,653 Total 2,404 1.260 124.270 SUOrt costs have not bn separalely identjlied as the Iru$iees considei thère is only onè ¢harthNe aclivily, therefore support Costs relate wholly to lh al¥lly and have not sèparaldy Idenlilied. Payidl servlcas ar8 provkjed by liim in which the Independent Examlner Is 8 Partner. 13
EAST NEUK TRINITY CHURCH OF SCOTLAND Nole5 formlng part of the Ilnanclal slatgmont$ lor the year ended 31 December W24 7. Staff •nd nurnb•r Tai 2024 Totsl Salari9sardwtye5 Pensoncosts Total 32.227 452 2&041 Th&Aw MLVLv14TrwOw$dLIlq Ihe wtsèslollth. 2024 Numb MuwB61aff Chwch olliC¥ Promlsés had t•iefiis in excess of£60m) (2W23-fwll. MaweMe ol Ihg (aiity cornpnse Tiuxiees. IhE Minister the Tieasurer. Tr cosiof k•yManayTrTrtp9orrnl was £3,73212023. e3.7081. Jl Church rl ScotlaThl Mngwaiiots ttsrrtrjrtq to Ihe Nar St1per Fund bws ts (xxts of al rninisiers, sipeThls and eMYeT.$ foi nan¥ Insurance, and housing and Ivan nd. MKi$ieT5' are in xcordancèviih the national Slindscale. is reied 10 yoaTS or Swwcè. For thÈ yèw UTthT ry4iyw rrdrymum sOpW £21.642 maximum lin Wfth subswert y4ars ol service) 8,. 8. Thi•• R•muntlon Rdal•d P0rtyTranCiIon rAst6rtravd Èmp05 of £82512Wd3- £4.7Y2lrtrè ihe year. sdarypa>Th1s £2$.(1203. £9.708I yre pwdtoM tW51$drn) the WT. ou Ihe year atow tsl e21.2JOI2023. £12,329) wasdonated to Ih•coryqgaibnbylru519 oltk• oqulpwrtnl At 1 January2024 Athjtians In thoar A131 Dvcernber 2024 18.340 AwJmul•t•d D4wAclri4Xb Al l Jsnu¥ 2024 D9vlatron charge ID Ihpy&ar Al 31 December2024 13,247 N•tBookVBIu• At31 0ecerrthrl ¢thI¢•tyUlprnt Al l jaY 2023 Ald05 yejr AI 31 DKember20L4 12,104 6.236 •uunvJthd D•0n At 1 january23 12.(W 1.247 31 08ber2 Il•t Book Vlu At 31 DAc8mt*r2NL3
EAST NEUK TRINITY CHURCH OF SCOTLAND Notes formlng part of the flnan¢lal stalomènts tor the year ende(131 Decenknr 2024 111. FSxed asset Inw91m•nts l)vwnent In fixed •er itsted Inwtsnohts 2024 2023 athgl valug a5 al 1 January2024 Adln$ 10 Invesiments ai ¢0 Oisposa15 èt chryinfj vye Naiga on revaatn MarkEI lue as at 31 Decembei2024 666.223 73.79S 179.3461 48,008 708 678 687.820 .519 138.2081 28,(r32 Nei¢& from ithveslmBnls in Iheyearwas £8.164 12023- £8411. In¥qstfflents at laIrlu9 comprkn•d: 8oNS funds Equity Iur¥J$ 38.721 123.236 52.432 114.376 499,415 66S,223 708,678 Thfr hiqiodtsl ¢0si of invBslmentsal 91 December2024 was £458,22312023-£448,2581 Al inv95lmeDts are caried at iheir la valuè. Inv&Ml in quities aThJ fixed Interesi secunll&S arè Iradsd in quoled puti matkets. primarily the L(d0 siod( Exth&ng8. HO195 in common thvoslm&nl lunds alld unil trusis are mkl-m8Jk81 Krt8 Th bas& ol lair valua foi invgsltnen15 equi¥alenl 10 thè martgi valuè, u$lrKJ tho mwj-markel price. ASS $e$ purthases alè ieo)grdsed ai IhA rt8 ol trade msl Ilhal value). The swJnrficancfr ol fIrnC91 inyiNmonts Iolhtr Or¥JDg finanu sUaInabIltyal chainv K% co1¢ ihe Iwryew ar VO$lm8nl wlcy and perfomanco Sectn$ ot thèTiu$ioes' Annual Repjrt. 11. DoblorJ unr•¥trf¢1 Vnmlrkled Totsl Total 2024 2OYJ Gift aid TradB debtors Pi6paytnents. mtrynd Ms%on ovarpayrnoni 1.6C6 3.7r 2.ID9 400 2.909 5,3S5 12. Credttors UnrnJlrlcled Aeslrlcied Funds Funds 2024 2024 Ttytsi 2D24 Funds 2023 Fund9 2023 Totsi 2074 Trade crgditts Accruals Dfylorred income Ib8lDwl 1,45S 9,361 1.455 3.426 150 5.031 17 4.641 2.700 4.701 4,96 65 7.341 60 D¥ltYed inwmtr- dBP05its lor laoliiie5' hr¢ In att¥8ncè Balance ai i January Re3$¢ ic Income DepDsI15 received Balance al 31 OeGernbBI 600 {60QI
Halden B]ack & Co EAST NEUK TRINITY CHURCH OF SCOTLAND Notes frrmlng part ol the Iln8Mel•l slalement8 lor the year 8nd8d 31 D8mber 2024 1& 110¥•tI In All J4nuory A131 InVmPThE Exp•ndtture 0olnw(1tr) corne 2024 unltd knd Gerberal Fund D£signated Funds". Fatse Fun 600.642 1Cg.918 1103.9491 47.815 17.655 672,281 11&3601 11001 ChuTBh Wom9ns GIOLV BadrninloTrClub Or.1Cafe FuTrJ 406 2ZO 500 9.207 14C61 $14 1297) 105.249 Re8lrfcied Miscarnps 8wst Memtykal Garden Fund Glasg(wTwst Mackig Bg4uesl Iwandi Fund 43,238 1243) 1.875 2.049 817 1&720 S.796 76.078 771.091 6,617 14,563 5,527 71.650 710857 1.898 It.8981 5.926 To11¥ Al31 Jarwry 2023 unrtr fund• Gènèt4 Fund D8swJned FLffjts.' Fabric FuThl CTch Guild Creh W(ww'sGrcup 575.J97 Ill79 1121.7351 27 &252 37.336 36.380 11001 1951 4( 220 51N) 55 12351 DiyiTrCafé Fur 8••lrfcMd lund sCAmp's 8wst Memrlèl Furwj Gknso¢pNTrust mack èwst FurKI 41,28S (2301 14YI 1.169 41238 1.71)S 6.617 14.563 5.527 71.650 710857 7,550 13.104 4.57e 68.126 683.3 16ZJ61 1.5 9.125 $76 1,260 124 270 N(ts$dthiinglhpurpwsd oflhèlutdslolty¥oD Ihe r*ilPage.
EAST NEUK TRINITY CHURCH OF SCOTLAND Notes formlng part of the tlnanclal atements for the year ended 31 D8cemb8r 2024 13. Movomènis In funds Icontlnued) Puose5 ot Unrestrlcted lundB Gensral FuJ.. DesNJnaied FatyrK Fund.. general TellouS and educallon wrp088s. Ths Iwslees aim lo sel askle lund5 loi Ihe ftxqinitnance vf the GMrch pioperti8s 50 Ihai. when taken iogeiheT Yiith the Mackie Bequest. Ihe tal amowt 1$ £50.000. The fund rgflecls Ihe lèllowship a¢ii¥ibes ¢1 the Church Guild. The lund roflec15 Ihe outreach actWibe$ ol tho ¢ongregalion. Th8 lund tefl$ Ihe Itlbwship aGliwiies ol the glow. The lulld name 18lle¢ts Ihe a¢iivilies ol cb. The fund Telkcis the a¢ts-¥1lies ol Ihs g¢oJp. Church Guild. Outrea¢h Gommille8'. Church Wofflen's Group.. Badminton Club. DrOn Calè.. PuTrose3 of Restricted funds r5 Cafflp's eequesl.. Pjemorkql Gard8n Fwd. Glasgow Trusl.. Mackie 8equesl'. Mwandi FuThY'. FN Ihe malntenance ol th8 bulthngs ol the Ea51 Neuk Tdnlty Church. To pro¥vJe loi the utheep ol tho gardw anLI memorrdl slong. Fof a$sisiance wh ¢hur¢h repaifs and upk88p For church maintsnance. To tnonies donated and raised to asskst with various chur¢h-sponsored Koje¢ts in 14. Relaled Part$ The charity IwsleeB consthr that The Gwow Trust lor Easi Neuk Trinity Church (Register Swllish ChaDly No. SC0094911 & charlly 3 H 8h8re$ soma ¢omrtK)n Iruslees and puSe$ deS¢1b bdow. Th8 IStee5 of The Glasoow Trust are ex tho MinisieT. Ihe Tfea5uier, iae Secietary ol Ihe Guild arwj tsvo Trbmbgrs ol Ihe Sp$ and Resou¢$s Team 85 nomillaled by Ihal lèarn. Thè charitable purpos95 01 Thg GlasgowTru$i are .. lal asslsl with the m•nionance. lopair. rènèwal arKJ improvement 01 Ihe tsJi1llng$. Ih•r fittings arxj liureS and furnishings b919 lo or used by East NgukTrinity Ghurch, and Ibl btrnelil orgarwsabofjs 58t up by East NekTriMll ChJr¢h." and <¢1 such a¢iiVilies and projeGts ol Ea51 Neuk Trinity Chuich whrh have Ihe aim ol bTirying lo Chrislianlly.. Bn Idl generalty5UWOrt the promion and advan¢emeni ol Ihe Christian relNJion. Durlng the ar thè chJr¢h recgwed £1,898 in donation5 Irn the GlasgowTru$i12023- £5.3021. Tha ioial Trust Funds ol The Glasgow Tru$l al 31 March 2024 wère £1,202.59612023- £1,072.3061. 1$. R¢ondlla1n of net movemenl In lunds lo nAtca$h flow Iiom operallng acllvllt05 Total Total Nel fflovetnenl ID funds wr Slalem8nl ol F8¢1 A¢18 D¢pr¢iaii Deduci Inv&stmèni in¢omg Deduct gain5 on invesimenis Iln¢rea$eiM*reaso in dèbtors IDo¢reas&lllrtr$ase In crediltys Flet cash used in operating actlvllle¥ 80.2Y .247 136,4901 I.679) 12.8561 2.370 30h54 27.014 1.247 129,2441 3.878 2,323
EAST NEUK TRINtrY CHURCH OF SCOTLAND Notes formlng part of the flnanclal Statements for the year ended 31 December 2024 16. afjng to Grow locatIOn 2024 2023 Toial allocation Less paKI by Stip8nd End0&0n1 Income Less Gl&be Rent Less Vacancy Allowance Amount paid, wr note 6 42,688 11,9101 46,128 11.9301 11,196 27.967 8.483 40,fj00 17. Coll8ctlons for Thlrd Porlles 2024 2023 Ukraine appeal Poppy Scoiiand Safvalion Army Easr Neuk Food 8ank Samaralins Turkeylsyria Earthquake Appeal 156 335 826 40 173 735 453 1,455 11,4451 132 142 1,357 11,3631 142 136 Donations paid Balan Irom w8ViOUS y8ar Balance Carried 10 next year 18. Volunteers In common wilh all congregaiions of the Ghurch of Scotland the congregation benefits frotn the contributn$ made by volunteers who give their litne and talents willlngly tor th& ben8fit of the Church. The areas ol congregational life which rely on the contributions of volunteers are many and varied and mu¢h of the activity would be unable lo continue were li noi lor the commitment shown. 18
EAST NEUK TRINITY CHURCH OF SCOTLAND Appendlces lo the flnanclal statements for the year ended 31 December 2024 Appendlx 1 Funds held on bèhalf of the Congregatlon by th8 Chureh ol S¢oiiand Genvr41 Trustees and noi Included In Iho forgolng accounts Capltal Aeeount 2024 2023 crlit balanc85 at 31 December ai cost- Grofflh lund Gre(Jit balances at 31 December ai cosl- Income lund 20.172 14.927 35,099 20.172 14.927 35,099 Klarkgt Valuè of bakn¢es at 31 D8cernber 59,727 56,053 The Church ot Scotland General Trusl88s 8,094 12023 - 8.0941 units in the abov8 ftjnds on bohalf of East N8uk Trinity Church of ScollarK1. Consollthted Fabrlc Fund Icapjiall 2024 2023 brought lOard Funds transferred to St Monans Funds transferred trom T8mporary Fur$ Funds transferfed from Capllal Fabilc Fund (alv9) Balance ai 31 Decembor 854,270 1225,5601 $42,407 258.772 53.091 854,270 628,710 Consolklaled Fabrlc Fund IA8venuel 2024 2023 8alanc8 brought forward IntOTeStldividends earned Used against costs Bala0 at 31 Decetnber 26.045 44.933 118,8771 52,101 4,227 22,347 15291 26,045 Temporary Funds 2024 2023 Balanc8 brought forward Sale of Toll Grean Hall Inet ol expens881 Interost 8arned Transf8rièd 10 thnsolkjalgd Fabric Fund Balance at 31 Oec8rnber 250,203 8,569 258,772