POLWARTH PARISH CHURCH. EDINBURGH (CHURCH OF SCOTLANDI 36-38 Polwarth Terrace Edinburgh EH111LU TRUSTEES. REPORT AND FINANCIAL STATEMETrrrs Year ended 31 December 2024 Scottish Charity number Church of Scodand referen¢• SC 004183 010115
Polwarth Parish Church, Edlnburgh (Church of Scotland) S¢ortish Chartty number SC 004183 Church of Scotland reference 010115 Index to the Trustees. report and Financial Statements Year ended 31 DeCeMr 2024 Trustees. Annval Report Index page 1 Objectives and Activf(res page 2 Achievements and Performance page 2 Financial Review. Risk Management page 4 Reserves Policy page 5 Structure Govemance and Management, Reference and Administrats've Infomiats'on page 6 Trustees, Responsibilities in relation to the Financial Statements page 7 Report of the IndeFendent Examiner page 8 Statement of Financial Activities page 9 stalement of Balances page 10 Notes to the financial statements page11 1to5 page 12 page 13 7t010 page 14 11to 14 page 15 15 page 16 16to17 page 17 Appendix page I
PolvArth Pari$h Chur¢h, Edinburgh Ichurch of Scollandl Scottlsh Chartty SC 004183 chUh of S¢oiiand referenc& 010115 Tru¥1•, Annual Report for the year ended 31 Deeernbgr 2024 The Trustees pre$t their annual report and financlat statements ft)r the ye8f ended 31 Decernber 2ff24. The financial statements hav¢ been prepared in accordan wth the accounting polioes sel out on page 10 and eomF4y wlh the charTty's (x)nsb'tution and the Gènèral A$s¢mtY Regulations for ConggatIOnal Finance. thè Charity and Trvslee Investrnent (Scollandl Act 2005. the Ch3rrt16s Acxx)unts IScod8ndl Regulaty'ons 28 las amended) andAccounting and Reporting by Charitie5 Ststernenl ol Recommended Practice applicable to charth.es preparing thèir accwnts in accordance wth th6 Financial Rèporting Stsndard IFRS 1021 ap1(ble in the UK and Republic ol Ireland. owecTIVES and ACTIVITIES The Church ¢1 s8nd 1$ Tnntsrian ir doctri1, Reformed in tradition and Presbytorian in policy. 11 exists to glollfy God arO to wiyk for the advancemant of Christ's kingd(wrt throughout the worfd. As a nation81 church, it ad(novAedge$ a disb"n¢twe call and duty to bll'ng the ordinances of religK>n to thè in every Parlsh in Scotland through a twritorial ministry. It cOperaS with other Churches in vari¢us ecumeniGal bodies in Scotland aryj Lwyond. PoN¥arth Parish Church as part ol the Church of Scotland is under the direct supervision of Presbytery of Edinburgh and West Lothtan and by decisioTr of the Presbytèry of Edirlburgh and West Lothian tt)e congregakn.on of Polwarth Parish Church. Edinburgh (Church ol Scotlandl, SC004183 continues on a Basis of Reviewable Charge. In 2024, the tmplementslion of the Presbytery Plan continuèd wilh acliwties underway by the "Four Congregatlons Implementatlon Team" Ptsarth wll become one unrted congregation with Ihree other urch8s. namèfy Crdiglod(hart, St Michael's and Barday Viewforth in respon8e to the need lo reduce the numbers of ministers and buildings throughout the Church of Scotland. Regularjoint actiwts.gs have beén enjoyèd throughout the year to doser relationships, including the sh8riThJ of food, games and prayer. Pulpt exchanges have also been cam8d out by th8 ftsur ¢hur¢hes. conts'nued as Interim M d seelng the work of the Kirk Session and as%sty'ng rs and semces. Ordaln•d Local Mlnlgtor, contir+ued as locwn Minister and has been active in the Services, events and pastoral tsre 8t Polwath, and in the four church&s implementab.on planniNJ and ¢v$nts. The Kirk Session met ght limes, th&'r loojs bng the Presbylery Plan and the remits of structur8d Krk Session SUteams". Mission. Worship. Pastoral Care. Communi(aty"ons. Prt)perty and Finance. continued to serve as SessK>n Cler ACHIEVEMENTS and PERFORMANCE Thi8 knnual Report is framed in accordance with tfv's Presbytery Plan which put8'Mission" at its Eart 0$ 0udin in tha Flv• Mark# af Ml$$lon, namely.. _ TELL To procl•im thg good of the Kingdom Pwarth Parish Church seeks to be a safe placè for all peoplè to worship regardless of race, creJ. a, cukural baGkgrourKI 01 sexual cfientaty'on. Our Congregatlonal Wor¥hlp T•am and rnany rnernbers of the congregation regularty p8rteipat¢ in our w¢rship wth Bibte ding$ Bnd wayers. S?Tvices are held every Sunday at 11am and Incluth a cd&)ration ofthe Sacrarnent of CommunK)n oft first Sunday in thè month. Tho Services are Presented Yisually on a screen an¢J ar¢ struthred yet informal and participatory. MUS is provided by our IAusic Dirèctoi and Organist Refreshments are served after thè $ervi¢e. The Services are live-streamed and operated by trained memr$ of the congregats'on. Aweekjy e new51etter is issued wth Congre"onl now$, fthcorning events and weekly prayer readings. The Minister. Lay Assisfant and others hdd a rmnthty Worship Service Mt a local Care Home. page 2
Polmorth Parlsh Church, Edinbur9h IChur¢h of S¢otlandl Scottlsh Charlty SC 004183 Church of Scotland raf•r#ne8 0101 q5 Trusté•s' Annual Report for the year ended 31 Oecember 2024 cont'd. A Good Frlday Seryke and an Easter Day Communlon SeNlce were held at Easter. A Remembrance Day ServKe was COndted on 10 November marked by a lone piper and the tsying of three wreaths. On Christmas Eve we celebrated with our chStIng1• S•Nl¢•, wdl attended by Mnber$ ol the eommunty, which was followed by the Chrfstmas Day Famlly Servlce. Our Garden Wornhlp Group continutd the practs.ee ofcreating disayS in our garden to commemorate tha rnost significant dates in the church calendar. Placards tell the stories of Chnst's birth, l$athing. (Jeath and resurrection. There is also a Chikjren's Comèrwhich h85 undergone developrnenl. TEACH To teach, baptlso and nurtur• n•w bèN•v• An Easter Hollday Club was successfijly run in 2024 at POarth in conjunction with other churches in the four thurch grouping. TEND To respond to human n•od by lovlrtg sèrvie8 Pdwarth Parish Church 1$ known as "The Klrf( on th• Canal". Centre lor en&$S arxl Wtrllbeing. Our Wellbèlng DIMetor. Shei18 Thomson, ¢onbnued in post. funded by a grant from the Tor FoLtndth"on Legacy, and provides a lead rde in developing and detsvering our divrsè sernicos lo the cornmuriity. The Pop-up Café provides a welcoming aGe every Tuesday rnoming wrth refreshmènts and cornpanionship. It is staffed by volunteers from the church and the communty. Two progrArnme$ run monthty in conjunction wilh tre café. "A Tlme for Reftectlon" wth prayer. quietness and ttie opportunity to walk the Labyrinth and a DlgSts1 Incluslon Drop.In. The Scrabblè Club meets tre 8ftemoon. Open and Wel¢ome S¢ is hdd in the Small Hall every Fri¢Jay morning, offering som8wlwrg warrn aTh friendly wth free refreshments. newspapers and company for tho$tt vranting to work. study, read or meet friends. Pcfviarth Parish Church is engaged wth Edinburgh City Mission on the Befrlendlng Programme. Cornrnunty and fundraising events have been organised including tharity coffee m¢ynings and participation in the Canal F•#tlval with refreshments. games. stalls and live music. The Wellbeing Director atso gW6S support to community groups and classes run at Polwarth induding the Polwarth Baby and ToddF•r Group. Polw¥rth Bumps and 8able3 Group and the Strong and Steady classes. "All Aboard" PoNYarth Polish Chureh's canal boat whi¢h has been run in partnership with the charty "Pople KrEQW HO,. prowded trips free ol charge on the Union Canal for community groups, char"e5 and other organisations, Including many groups of ywn9 people fro¢r local schools. sin People Know How has reCenY been wound up. consideration is underway for th& futu of the boat beyond 2024. W¢dndaY A¢tlvltl?¥ 4t Pohrnrth ¢ontinues lo offer a vard programrne to adutts from tho community to p8rbcipate in activities such as baking, craft books, games. gardening and ftJndr&sirg. The Mini¥ter, Lay Assistsnl and other members ol the congregation pl Pastolal Care at the centre of their mission, with the dders and the Wellbeing Director also visiting and ntacting rnembers ol the congregation who need silPPOrt or cannot make it to church in person. TRANSFORM To trdn8form unjust structure$ of 80clety. to challeng• vlol•nc• o14v•ry klnd and promote peace and reconclllatlon. page 3
Polwarth Parlsh Church, Edlnburyh {Church of Scotland) Scottl8h Chaty SC 004183 Church of S¢otland reference 010115 Tnrstees, Annual Report for the year ended 31 Decemb•r 2024 eont'd. The Labyrtnth Group hosted the well-attended VrI Labyrinth Day and regular dropin sessions to provKle an opportunity to walk the Labyrinth mindfully tme to si¢ pray and light a Cantt. Our Tranqullllty, Peace and Canalde Gardens, formed through support from the Forcos and individu818, were popular places lor prayer and contem8.0 on lov8 and peace a5 W8s our PrayerTree at signifunt times of the Christian year. other 8¢tivilies induded p8rty'cipaling in Chrl8tlan Ald Week, collecting food for Food Banks at Harvèst Festlval and an ongoing drop off point, fundraising ftsr Cardine's"Caring artS Famlty" In Zambla, and hosting a coffee moming in aid of Macmlllan Cancer Care. TREASURE To strFv• to $af•guard th• Intsgrfty of ¢rootlon. and sustaln and renew Ible of the earth. Thè W•dnosd¥y A¢tlvltl¢¥ #t Polwarth group and the Wellbeing Director led efforts to maintain the Outdoor Worshlp Garden, including fund raIng. PROPERTY The"Property Team" rnaintsined the fabric ofthe churth buihling. halls and mans&. Wrth tha a$$i$lance ol the Church ol Scotland Law Departmen( the m8nse was sdd on 14 June 2024. The church building and halls have been very popular for lets indudw)g sorAal events, conrtS anfl communtty glOUPS. Flnanclal Rwl•w The principal source ol regular income comes from donations. This 1$ madtr up of weekly and rnonthly offerings which saw a decroa58 on 18Styear. There 13 a sm811 dedine in the number of regular givers but the main dedine is the reduction in the restricted fijnd income whith accounts for a large proptyrtion of the decrease. Addittonal significant Incomè eomÈ5 frorn the telephone masts and wayleaves and also hall lets. The total income for the year amounted to £155,29312023 £175.0141. TO expenditvre amounted to £597.33812023 £176,2181. The large increase follows the sale of the manse and the asset valuab.on Ling transferred to the General Trustees. The 2024 General Fund deficit Wa5 £19.99612023 defiril £11,962). Investmènts increased in v8luo by £5,897. but the reduction in income accounted for the increased defiat. ere appropriate VAT has been redaimed at 100% under the Listed Pla$ of Worship Grant Scherne at 8 value tsf £4112023 £12891. Ml investsnent5 are assigned to the General Fund. At 31 December 2024 total fvnds (restricted and designatedl ¥thich are available lor Float the Boat, Canal Shed, Sound and Audio Systèm, TOR FoundatK>n Fund an4 t)trier sfflall lynds induding Flowers amounted to £40.15712023 £47.2861. The main focus has been on the manogement ol ca$h flow and the reduction of overall èxpenditure. However if the treiKI remain5 the same then there will need to be a release of cash Irom the investments. Following the charge becoming vacant and the appointrnenl of a locurn minister. the manse was $old. The funds available for f3bric h8Ye now irKreased 5ignificanUy but they are held by the Genar Trustees in the Consolidated Fabric Fund rather than by the congrègab"on. Rlsk Managennt The fact that the majorty of the con9regation's mèmbèrs are elderty constitutes a risk lo its ftjture, boih in temis of finance ¥rKI of human resources lo carry out necessary fvnctions. People ol pensionabje age tend to live on fixed incomes, whth limit the response which can be made to the stewardship campaigns regularfy run by the r Sèssion. On the other hand some very generous legaaes have been assigned by members in recent years. A number of younger members ol the congregah.gn have been chatlenged to take up the voIL*nleer d'e8 which are needed to keep the thurch running smoothly. page 4
Potvdarth P•rish Chur¢h, Edinburgh Ichurch of Scotlandl Scottlsh Chartty SC 004183 Church of Seouand rgfèrgnce 01011S frustèt8' Annual Report for the year ended 31 December 2024 eont'd. Res•rv•# Policy The charity trustees have con%dered the reserves requiied and have taken into aCco(t their wrrent and future liabilities. It is the TrLtstees' policy lo hold reserves of approxirnately three months. expendituro including designated fund5. At tre ye8r end the Church hdd unrestricted funds of £21,15312023 £41,595) ol whh £2.21012023 £2.6551 has been designated for the Wednesday Activits'es Iformerfy Canal Shed). Café and olher srnall projects. The remaining l>alan of £18,943 12023 £38,940) represents about one months, expenditure. The church also holds £75.89412023 £491,800) of restricted funds o.ust over hair of whi¢h is the book value of the canal boatl held for the purposes speafied in not• 15. page 5
Polwarth Parfsh Church, Edlnburgh {¢hurch of Scotlandl Scottish Charfty SC 004183 Church of Scottand ref•r8nee 010115 Trustse$' Annual Report for the ygar ended 31 Decomb9r 2024 convd. Strudure, Governance and Management The ngregatsOn Is a reglsiered charlty nLJmber SC(M)4183. is administered in accordance with the temis of the Deed of ConstitLJbon (Unitary Forml and is subiect to thtt Ad5 and Regulations of the General Assembty ofthè Chur¢h ol S¢oland. Membor8 of the Kirk Sossion are the charity trustees. The Kirk Session rnernbef5 are dders of the church chosen from those members of the church who 8ra con$idèr8d lo have the aFpropriate gifts and skills. The minister, who is a mernber of the Kirk Session. is electsd by the congregation and iThYu¢ted by Presbyiery. Wth the approval oftr Presbytery of Edinburgh the Propety cornmrtteo is convened by a person ¥tho is not an oldèr but 1$ uThYer the supervision ofthe Ministe13nd the Session Clerk. The Kkk Sessbn which meets Slxtirnes ayearis responsiblefor spiritual affair8 Wrthiii the church. R•f•r•nc• and Admlnl8tratlv• Intomion Charity Name Chanty Registra"on Number Congregation Number Contact Address Pc4warth Parish Church. Edir*)urgh Ichurch of Scotlandl SC 004183 010115 Polwath Parish Church 38 Pofvrth Terrarx. EdnbUrgh. EH11 1LU Fmnelpal Olfle• B•ar• Locurn Minister Intenrn Moderal¢r Session Clerk Treasurer Independent Examiner ollis AG¢ountrng Ltd. 3 melVle Cresnt, Edinburgh. EH3 7HW Bank of Stxjuand. Dalry Branch, Edinburgh. Church ol Scod8nd Investor8 Trust, Edinburgh Bankers Charlty Trustees (gnIst page 6
Polwarth Paritsh Church, Edlmburgh (Church ol S¢ollandl S¢ottlah Charlty SC 004183 Chur¢h of Scotland rtèr&nco 010116 Ttusieos, Annual Rep£vt for thè yèarnd•d 31 D¢¢mb•r 2024 eont'd. TNstoes' Rasponsiblllitos In rplat6on to the Flnan¢lal Siatsm•nts The rharrty trJstees are responsit)le for preparinc a tr',Istees' annual report and finanaal %latew.8nls in accordance with 8pplIcab law and Uniled KillgdoTn ACCOUtIng Standards (Unrted Kingdom Generty Aepted Acc%Jvntsng Pra¢t&cel. The &pplic8b+e to charities in Scotland require$ the chaiity truslees lo wpare ffin8ncial statement$ for each year whi¢ show a tNe attd falr View of the slate of affairs of the ¢hartty 8nd of thè in¢omng reSOUfces and appliE of resouT¢es tsf the ch8vity for trat pe¥iL)d. In prèparing tne fin8nc&ql 31atenpnt$, the try$t88s are required lo" $elert suttable accounting poli&es and appty them rnn$l3tenty,' observè the method and princi6 tn tkFe ¥pl¢tabt Ch8ities SORP,. make judgments and esiimales that are reAsnnable and prudent, slate wttether applicable accountirgJ standards arid stalemenls ol recommendeo practi ha¥e bep folli>wed, Subject to any departures disdosed and exptained sn financlal statemÈnis', pr8par& the financial stal?ments on a going concern ba8is unl958 it is inapprowate lu presume that Ihe VAII colnUe in operab.onal exstence. rhe tIU$iees a responslble for keeplng Ptoper 3¢¢0unting records whch d15£Foso wlth ¥e?sonable accuracy ai any tlme Ihè tlnanaal position cf tb.0 charty and to enaNe Ihem to Ensre that thE financial statements comply Yrtth the Chyrib'e3 and Twstee Inve$tmcni ISGCtlandl 2005 8nd the Chafjlies Acunts IScotl4ndl Resuldions 2006 (as amendfydl Tttey ¥e responsible for salegtsafding the assets of tle ch817ty and herKo for t8ng reasonable $tep$ the pr110n and deledion of fraod arKI other irregutarfties. The Ituslees are respofTsible for the matrrtenance and integrity of Ihe charity and for any finan¢i81 illfomabo the cong¥eg3t¥oM'$ website. Legislation the unit Ktngdom govtsmtng th6 proparation and disgmination of ffnana81 staiwnents may differ from lolslaDon Ni otheT jurisdiolions. ApprJJ ved b Ili& TriJsl&)&s diid Sygl)&d on Ihew behalf, I r_'.Eiee I l March 2025 pugv ",
Poh¥arth PHri5h churc Edinburgh Ichurch of Scotland) ottilh Charity SC 004183 C'.hurch of 5¢otland referenee 010115 Tru¥ltC5' Annual Report fvr lh¢ )¢Hr endEd JI Ik¢mb¢r 2024 Lwnl. lott¢ptnd¢u¢ Exttklntr's RÈw)rt to th¢ Ttyst¢ts of Pohvxrth CbuT¢b For the yexrtndtd 31 Deetmr 2024. I rerrt)rt on the accounts of the charit). for the year erthded 31 December 2024 which are set ort pdges 9 10 17. Rtiptttivt r¢5ponsibilit¢¢s of tr¥s1tt$ and ¢J¥mintr. The trustees of the th8rity gre responsible for the preparation of the llccoullts acwrth¢¢ with the t¢nDS of the (..hilS and Trustee Investment {ScotldI Act 2( and ikn¢ Charities Acc4)unts Iscoflandl Kegulations 2006 {a5 am¢nd¥d). The charity tru8te¢s ¢onsider Ihat the audii requirements of RegU[l{ 10 111 la} to 1¢) ot. the 2006 Aecounts Regulations (ki noi apply. 11 15 my T¢4)QEJsibilJty lo ¢Xam¢ th¢ accounts as ryired und¢¥ ¢tH)n 44 111 c of the ALI and Iu Stale wlirih¢r particulai maii¢ts hav¢ Lvnic lu my aii¥nlion. Basi8 of Indeptndtnt Fjxamintr's stilement. My ¢xaminaiion israTri¢d oul inacwrdanc¢ with R¢gulaiivn I l ofth¢ChariiitsAccvunts (Scollandl Regul&ions 21%%$ 1$ aMeIed). An exathinalion in¢ludes a review of the accolting records kept bv the ch3TitY and (kmpar150n É¥fthe 2c¢ounlS presertt¢d ihose re¢ord& li alw intlud¢s ¢oD%id¢ralivii of any unusual items or di1¢5 in ih¢ aL¢oun15 atmj s¢¢ks ¢xpianaiivnb ihc tTustttSCQtJM]Trs any such all¢[s. Thv pr¢dur¢S und¢nak¢n do not provid¢ all th¢ evidence that would be requir¢d gn audit. and consequtlY J do not express an audit opinion on the view Biven hy the accounts. ludtpthdent Examintr's $tgtsmenL In the course of m) ¢xaN)inaI. rK> Thatt¢r ha5 co]n¢ lo my attent which gives m¢ r¢asonabl¢ lo PKli¢ve thal any illalciial r¢$il tk rcquit¢m¢nts". 10 keep accountinB records in accordartce with Seciiort 44(11 lal of the 2(X)5 Att and R¢gulatioa 4 of tli¢ 21K)6 Accowts Regulath)ns las amendgjl. and to prcpttrc accounts whith accord with the Èccounting reLvrd5 and cornply with Regulation 8 of the 2006 Accounls Re8ulaiiot]s {2s atnendedl hav¢ not be¢n Tr)eL OT to which, in my opinio &tteniion should drawn in order 10 cnable a w)ptr understat¥lirtg of tk accounlE 10 b¢ rcach¢d. Hollis Acrouniing I.. 3 M¢lvill¢ Cr¢scenL Edinbur8h EH14 SHY 2025 page 8
Polwarth Parlsh Church, Edlnburyh (Chu of Seotlandl SC004183 Church of S¢otFand r&f•r•nce 010115 Statsm8nt of Flnanctal Aetyvltles for the year onded 31 Dec•mb•r 2024 not• General Deslgnated Restrlct•d Endowment Fund Funds Funds Fund 2024 2024 2024 2024 Total Ggner41 D•8lgnated Re•trJetod EndoVMnt Furid Fund$ Ful$ Fund 21r23 2023 2023 2023 Total 2024 2023 Income and endowm•nts from.. Donatons and legacies Charitable Ath"vibes Other trading activities Interest. investment incorne Other Total Ineomtr $4,789 937 25,003 1.475 25,116 107,300 42.841 102,173 56.483 1.486 1,290 25,003 22,350 1,515 25.116 26,368 155,293 108.137 1,241 65,577 123.281 1,298 22,350 1,717 28,368 175.014 40 18 5.112 42,841 40 1,249 65.595 33 Expendlture on= Fiaising fund5 CharitaNe Aclwiti•s Transfer of M8n5e Total •xpondltur• 133.234 5,557 51,304 407.243 190,095 124,742 407,243 597,338 124,742 1,1 J.288 176,218 133.234 5.557 50.288 176218 Plet InCoMoxp¢ndItUre before gaSnsllloss•51 on Investment$ Gain I Ilossl on ¥0? ol nvestments N•t incomellèxpènditure} -25,933 445 416,706 442.044 -16,605 15.309 33 -1,204 10 5,897 -20.036 4.610 436.140 -11,995 4.636 3,432 445 41S.706 47 15.309 59 Trdnsfers bthtan ftJrKIs 15 40 33 43 Ngt movem•nts In funds: -19,996 445 415,706 436.140 -1?,2 59 15,309 3,432 Reconciliation of funds Total fiJThJs brought forward Total fvnds carrièd forward at 31 Decamber 2024 15 38,939 491.801 723 533,918 So.2 2.595 476,292 697 530.487 18.943 2.210 75.894 730 97.777 38,939 2,654 491.601 723 533.918 p8ge 9
Pohyarth Parlsh Church, Edinbvryh IChur¢h of Scotlandl SC0ts4183 Church of Scolland reference 010116 B¥1•ee Sheet at 31 December 2124 ots 31.12.24 31.12.23 FIX A860ts Taygible assets lrtve8tm*nl$ Total fl18d A488ts 37.947 446,969 63,227 510,196 io 107,ts78 Current A¥8•1S Deblor5 Deposrts wth cb.urch Csf ScoU#nd 88t>k Cvrrenl Accounts 1,531 1.t88 17.337 20.056
,674
1.067 38,507 41,248 LtabllliieJ Ciea.,ttsrs falling due vitbin one year Net cUt Assèts 12 29,358 17,525 Total A#•et¥ 97,777 533,918 Fund8 Pemian8nt Efvdowmenl J.H_Drer,nan Bequest Is 730 730 723 723 Re8trfcted Fund Float the 808t Float lhe Boat Ye8r4&i roR FDundalioTr- W•llbeing Diredor Small Grgnt for Jubike Tranquilrty BeDcb Warrn Soaees Manse capital fund Conal Boat 583 6.757 24.650 5,848 7,78e 406 35.494 42 47 311 407.243 39,726 491,600 47 82 37.947 75 894 De•lgntsd ceral proje we$laY Activities lorrnerfy C3nal Shed Labyrinth Wellbeirtg Fund Gardert Plant and trt00r Worship Vund WheelrTr.air L1 Teds DeD. 79 471 49 659 1.080 305 1,500 2.210 2.655 Unre$trf¢tod Ger.eral Fund at 1 JaTrugry sU1s jdaficitl lor yeaT at 31 Derernber 2024 38,939 -19,996 18.943 50,902 38.939 Total fulldB 97,777 533,918 The Financ Stslements were approved by t& Kith.gession onlLM8f¢t. 2025 8nd gned on their behalf by, Tre3SU Trustee
Polwartb Pri$h Chr£h, EdinbuT¥h (Church of S¢otlaDdl SC 004183 Churrh of Scotland 0101 J5 No1¢5 to the finaneial statements for the yt&r tndtd 31 Dt¢tmb¢r 2024 A¢f oynting policies. Th¢ prin¢Tpo1 accouiitillE PDlicies, which hav¢ been prepaT¢d consistently inthe cutrent and prec¢diJ)g y¢ar in dealing wtth itsms ¢OD5id¢Ted matrrial w ih¢ a¢L¥)LtI are 01 below. B¥$is of pr¢p4r#tion Thc fjnancial statemen15 have beeii prep8r¢d accordance Nryih Accounlittg Jd Rewting by Charities Srement of R¢commended Praaice applicable to charities pr¢pariiig their accounts in ac¢ordane¢ with rhe frinancial R¢F¥>niJg $tandlS applicable in the lJnid Kingdom aiid R¢publi¢ of Ere[d (FRS1021, the ChaTili¢s and Tru51ee It]¢Stment IS¢oilandl Ad 2003 id lh¢ Chl(leS A¢£ounis IS¢oilandl Regulations 2006 la5 am¢ndcdl. The cOUrtts (financial staternent51 have been prepared und¢T thc historical cost convenlian with iter(LS r¢colS¢d at cosi or tr3nSa¢lion value unless oth¢rwis¢ stad in the reievattt noi¢lsl ro ihest acetsunts. The thtirity (YJtJstitutes a public b¢n¢fit entity as defined by FRS 102. The Tn]st¢¢5 consider ihat thcrc arc no material un¢erLginti¢s atroul th¢ charity's abi12ty to continue as a 8ouJg wn¢¢rn as th¢ Ch1 sUl¢lent reseyves at can adjust actiN'ity in line with income Teceive Fund atCOUDtlllg Trunds are classifjed as eiih¢r¢ndowm¢nt funds, restricted fund& 01 unrestrid¢d fullds d¢fstKd as follows.. End0ment funds are funds which have given on rk condition thai ihe capital sum is not Tdvc¢Lt but the income is ustd for the purpK)se defined within th¢ objects 01lh¢ Charity. Restrictcd rd$ are fd8 subject to specifie r¢quiT¢ments { to ¢ti¢ir use which mty L de£ld bytt% donor. or wryth Ikir uthority. or cr¢a¢ed through kgal proe¢ssts, bui Slill within the wider objects of th¢ charity. Unrt5tricied fyJs expetjdable ai the dtscreiion tsf the trte¢S in fvrth¢ram¢e of rhe objects of the charity. Tf apart OT pan5 of the urtrcstrtcted fi]nds are earmarked al th¢ discretion trusiecs for a particular purwst, th¢y are desL8naied as a sepaTate fund. Ihis designation h&8 Im administroEive p5¢OnlY and (5oesnot legally $trict the tr¥te¢s, dIr¢tiOn to &tvly rht fund. Incom¢ In¢¢]nc is recognised whetk the ehartty h&s ¢nt¢tlem¢nl 10 fiJnd& any perfOnllan wndilions attaLh¢d io the items of i]Kome hav¢ been met a] li is probable th the iftcome will b¢ r¢ttiv¢d and ihe amount catt Ee me&bred reliabty. D(kTrattd Services and f4¢iliti Don21td professional service5 and facilities 3r¢ recognised as income when the charity has control over th¢ item, any conditions associat¢d the item have been mei. the Teceipl of eCOTrIC b¢n¢fit from the use by the Charity ot lh¢ itrm is probablc and Ihat economic benefit can be measur¢d reli8blv. In accordanLX with th¢ ChaTitie5 SOIiP IFRS 1021 the general 011]er itme of cotwegatiix) is noi tecognise InteT¢St r¢¢¢ivablt Intere rutt held on deFK)Sit$ is includ¢d when Teceivable and Iht amount bE eaSUr¢d religbly by lh¢ charity.. IS is rtorrnally upon 0t1r)carioll of Ihe interesr paid orpayable by tb¢ Bank. Fixed Assets Th¢ charity kn Ihe right 10 (Kcupy and use for irs thariiabl¢ objects c£nain tangible fjxed assets. including the Church hlls ati mattse. No conssd¢Tation is payabl¢ for Iht use of these &sets. EXp¢tltur¢ incuTr¢d on th¢ repair and maintenance tsf the5¢ 4SSe 15 charged as resouT£¢$ expendcd in Ihc ststem¢nl of financial acriviti¢s in prrivd in which the liRbili¥' arises. Th¢ lille de¢(fs for th¢ church and ha115 were transfeyred the ChtsrLh Df Scotland ill March 2019. A namiw LY)ut was put¢h#d io 2021. DepclaI10n on this asset is provided on astrai8ht-lin¢ basis to write off Ihc Initial value. le55 residiJal valu¢, over its estimated useful life ¥ follows.. Canal 8oal- 25 year5. The Manse prtY ai 88 CTaigl(Kkhgrt Road. Edinburgty acquired in Sept¢mirr 2005. has until its sale, been includEd x fixed w¢tvaJved ai original wsi iogthhcr with up8radin8 costs. The Trustees havc ¢onsid¢r¢d that a d¢pr¢cia¢ion charge on ihis property would b¢ gPPTopriat¢. Thc litlehold¢rs for the mÈttse wer¢ the Mini5t¢r atMI Sessiott CI¢Tk cx Off2¢], although the mans¢ was under th¢ ¢ontrol of thc General Assembly. Invtstments Fixed asset inv¢slmenls are sialed at mgxket value at the bdiance sts¢¢t dat¢. All inv¢sttn¢nts are in income and fitnd5 adtninisiered by the Chutch of Scl>tId InvesloT5 Tn2sI. which provides monthly market values. Gains 2ndlor losses on revaluations Jnd dis5x>saJs ar¢ a]loc&ed to ihe appropriate lunds. T¥yation The Church ts re£o8nised tss a ehority for the puryDsts of appILble laxaiion legislation and i5 therefor¢ r subj¢ci to iaxaiion on jts ch3ritable acliviti¢s. Th¢ charity is tLoI regisiered for VAT and therefore T¢wurc¢s exrKnded include trtewveTabl¢ iDPUt VAT. page JI
Polwarth Parlgh Church, Edlnburgh IChur¢h of S¢ollandl SCI)04183 Church of Scotland 010115 Nots• to thtt Ilnanclal statemènts forthe year ended 31 Daewnber 2024 confd Genernl Deslgnatéd Restricted End4)wm•nt Tgt#l Fund Fund8 Fund$ Funds 2024 2024 2024 2024 General ol98ted R•strlctsd Endowment Fund Funds Funds Fund$ 2023 2023 2023 2023 Total 2023 1 Donatlons and 18gacl•$ Offeiin95 Grft Aid taxation reo)vwed Legaaes Other donatiws Giants received 36.773 8.519 36,773 9,308 360 13,051 42,681 102, 173 8,413 8,621 9.117 3,774 9, 146 838 84.$31 65,577 11,125 64.631 123.281 42.681 42 841 54.769 4,S63 56,463 1.241 2 Incom* Irom ¢haritable actlvltl Weddin9s an¢J funerals Regular ftjndraising events 6C¥J 337 937 6L)) 850 440 549 549 1.298 3 Income from other tradlng actlvftles Rent received 25,003 25,003 25,003 25,003 22,0 22,350 22.350 4 Investm•nt Income DNidends received Deposit interest 1,447 28 1,475 1,487 28 1,515 1.287 379 1,320 397 1.717 18 18 33 5 Other in¢ome Telephone rnast rentslslwayleave$ Recaipts from Gener trustees ReiptS from DCMS Scheme 25,075 2S,075 25.079 25.079 41 25,116 41 25.118 1,289 26.368 1.289 26.368 p8ge 12
Polwarth Partsh Church, Ed5nburgh (Church olS¢otlandl SC004183 Chureh of Scotland 010115 Notss to the flnanelal $t#t•ments for the year •ndod 31 Decembèr 2024 convd G•neral D•slgnat•d Restrlcted Endowment Totsl Fund Funds FundB Funds 2024 2024 2024 2024 General Deslgnated Re8trtct•d Endowment Fund Fut)ds Funds Funds 2023 2023 2023 2023 Totsl 2024 2023 6 Analysls of Expendlture Charrtable Activities Giving to Grow L(Kum Fe8$ P3bytery Dues 40.759 6.370 93e 48,065 112 1,000 26.495 6.732 11.e94 9,637 19,239 1.922 40,759 45,898 936 41,695 112 1,0(K) 56.142 6,732 37,329 9,637 19,239 1,922 1.658 47,556 Ministers travet expenses Pulpit supp Salary rA)Sts Inote 71 Bookkeeping fees & Govemance Fabric repairs and m8intenance Council Tax and Insurancè Heat and light offi expenses Organ and rnusic Cafè Costs Depreaatson Others 47,556 29.647 27.681 6,310 17.869 12,939 9,633 2.478 1,892 2,719 29.080 50,761 e,310 38.286 12,939 9,633 2,478 1,892 2,719 1.779 S.557 19.878 1,190 19,427 3,734 3,734 1,779 1,956 I,095 407.243 597,338 1,779 1.779 1,956 133,234 5.557 51,304 407,243 5,557 458,547 124,742 1.190 50,286 176.218 Tran$feT of Manse T¢)tsl 133,234 Support ¢05ts have not been separately idents'fitrd as the Trusts&s ronssder that there is onty one charrtable actIty. page 13
Polwarth Parl•h Chureh, Edlnburgh (Chureh of Scottandl SC004183 Church of scotland 010116 Nots8 to the financial statements for the year ended 31 Decembor 2024 confd 2024 2023 7 Slaff costs •nd numbers Sahne$ Soaal se¢urity Costs Totsl 56.142 50,761 56.142 The average nurnber of 8rnployee8 durin9 Ihe year. lCUlated on a head countwds 3. There have been some additional IelanCe anerS used in this penod. 2024 Number 2023 Numb•r AdMinistratn Music st8N Premises maintenant No employtr rèce4Vgd 8ny in 2024 or 2023. All Church of slIan conggatiOnS contribute to the Natsonal Stipènd Fund whith t)oarB the )Sts of all mini$lers' Stipends, national insurance, pension. housiry and loan funds. Ministers, stipenils paid in accordan wth the n3tt.onal sty'pend Sca related to years of servtce. For th8 year under review 8tipend$ range(I bebyeen £ 31.842 and £38,884. 8 Tr¢ Remuneratlon and Rèlited Party Transactlo During the year no Trustees received reimbursement of expenses12023,£2.8451 The arnount donated to the Congregatk by Tru$lee$ was £13,419 in 2023 and £16,730 in 2024. 9 Tanglble Flx•d As#eta 2024 Canal Boat 2023 Man$• Canal Boat Totsl Total At 1 January blf Ao]uisits'onsllDisposalsl 407,243 407,243 43,284 450.527 407,243 407.243 43,284 450,527 At 31 December cjf Ac¢umulatsd D•prn¢latlon At l January blf Charge for yèar At 31 December rJf 43,284 43.284 407,243 43.284 450.527 3,558 1.779 5,337 3,558 1,779 5,337 1,779 1,779 3,558 1,779 1.779 3.558 Net Book value at 31 D•e•mb•r 37.947 37.947 407.243 39,726 446,9 Manse Sale wmpleted in June 2024. the proceeds have been transferred to the Consolidated Fabri¢ Fund of the General frustees. This requir 8$ the title of the Manse had an Assembly control dause meaning the proceeds from tho salv Uld be hehl by the General Trust¢es for the benefft of the ngregats.0n. 10 Inve¥tm¢nts 2024 2023 Market value at l January 2024 Revaluation gain I Ilossll lor year Realised gain I Ilossl on investrnents sold Sab ot Investments Markel value at 31 December 2024 63,227 58,591 4,636 69.131 83,227 Investments at eost 42.420 42.420 All investments are hold wlh th8 Church of Scodand Investor3, Trust in Gvrth Funds. page 14
Polwarth Parlsh Church, Edlnbur9h (Church of Scotlandl SC004183 Church of Scotland 010115 Notès to thè financial #tstsments for the year ended 31 D•¢•mbeT 2024 confd 2024 2023 11 D•bto Taxation on Gift VAT recovery Payynents in advan Tradè D8btOT$ 725 973 857 481 222 831 -213 1,531 12 Creditors Receiv6d in a(fv8n¢ Accruals Trade Credrtors Other5 22.758 4.394 1,804 402 29 358 12,448 726 3,873 478 17.525 13 An•ly•ls ol N•t As$•ts amongst Fund¥ 2024 G•n•ral D•slgnt•d Re¥trl¢tod Endowm•nt Total Fixed Assats Invè$tments CuNent Assets Curront Liabilth'e5 37,947 37.947 e9.131 20.056 -29,358 68,401 -20.101 -29,358 730 2.210 37.947 18,942 2,210 75.894 730 97,777 2023 Gon•r¥l Deslgnated Re$trl¢t•d Endowment Tot41 Fid Assèts Investments Current Assets Current Liabilitss 446.£69 446,%9 63,227 41.248 -17,525 62,504 723 2,6SS 44,631 -17,525 38.939 2,655 491.600 723 533.918 14 Volunteers In common wrth all eongrag8tions of tre Church of Scouand this Congrega0 b6neffts from the contribution made by vonteerS who give thèir ts.me and talerits w11ing for the ben8fit ol the Church. The areas ol eongwatDnal lif8 which rely on the ¢ontributKJns ol volunt8èr5 are rnany vaned. and rnuch of thg a¢tivity WOU be unable to conts.nue were it not for the ¢ommitment shown. Page 15
Pofrwarth PaSh Church. Edlnburyh IChur¢h ot $¢otl•ndl SC004183 Chur¢h of Scotland 010115 NotOS to tho financlal statsments for th8 year ended 31 D8comb8r 2024 ¢onV 1S moVnNts in Fun¢ts 2024 al 1.1.2024 Incom• Expendtture Transfers RwalUaoTr gain$l{losses} 31.12.2024 Endowment ftsnds J.H. Drennan Bequest Restrlctod funds Flowerfund Hoatthe Boat FtyJal the Boat Year5 4&5 TOR Foundat Wami Spaces Jubitee Tranquilty Bench Tap into IT Man$e capital Canal Boat 723 40 730 563 7.768 5.631 408 35.120 38,494 563 6.757 24.650 5,848 82 -6,642 -10,876 .29.646 -229 42 40 -2.050 407,243 -1.779 458.547 42 47 47 2.050 407.243 39,726 491600 42,841 37,947 75.894 trI¢l•d Funds. DlOnt• Garfen and Outdoorworship WedndaY Activities WeJbeing Café Projec Labyrinth Teds Oen Boat Whe&l¢haii Ilft I,oeo 50 -$59 471 659 309 -s80 -260 -3.450 -112 -5,557 .133.234 -138,791 -597.338 79 49 3.450 2.655 S,112 38,939 107,300 41.595 112,412 533.918 155,293 2,210 18.943 21,153 97.777 General 40 40 5.897 5,904 Total8 Movements In Fund8 2023 Income Exp•nditurt TransfgrJ Rovaluatlon galn81{108sos131.12.2023 1.1.2023 Endowment J.H. Drènnart Btqwst Restricled funds Flower fund Sound & Audi¢ Live Stream Float the Boat Float the Bo81 Ye8rs 485 Manse Gaen Fund TOR Foundation Warn Spaces Juble Tranquility BertGh Wellbeino Intern Manse capital Canal Boal 33 26 723 -24 491 .10,958 491 13.001 5,725 7.768 150 11,679 58,263 590 42 765 -150 -34,448 .279 35.494 42 47 439 1,000 -1,157 1,000 407,243 41,505 476,291 65,595 407.243 39.726 491.600 -1.779 .50,286 Unrestrided Funds- Deswnated G8rdan 8nd Outdoor Worshp WÉdnesday A(vities Wellbeing Café Proioct Labyrinlh 496 653 496 1.080 1.578 150 659 209 100 2,596 1.249 50,902 108.137 53,498 109.386 530,487 175.014 49 659 309 2.655 -1.190 -124,742 -125,932 -176,218 Gonoral 4.610 4,610 4,636 33 41.595 533,918 Totsl• pag&16
Polwarth ParFsh Church. edlnburyh (Church of Scotlandl SC004183 Church of Scotland 010115 Noto¥ to the fFnanci¥l $tatements forthe year ended 31 D•cembèr 2024 eonvd Income from the J.H.Drennan bequost is for rnaintenance ofthe mini8ty. The Flower lund (s to provKle flowers for the church. Float the 8oat- thè boat was purchased in 2021 wth the value being transferred to a fixad assat. The running and maintenance costs for the first 3 years havtrcom& from this fvnd. Grant Income has also received from 'Go For If.. A fvnd has teen sel up to cover the running costs in years 4 & 5. Yèar 4 b9gan part way through this year. The Manse fund remained at cost unl"1 th8 Manse wa5 sold. The Sale Cornpleted in the second hall of tha yar 8nd the prowd3 after costs are now held by the General Trustees In thts Con501idated Fabric Fund. Whik the manse was vacant th6re wèrè som8 continuing costs unt'l it was sold. Warrn Spaces- Grant money was re•ived to cover the ewnso ol providlNJ a wam space dvring the cost of living crisis. This fund will continue tt)roughout th8 wint8r in 2024. Wellbeing Intern - we were awarded a grant to employ an intem for a period during the year. TOR Foundation- this funding Continues into the third y8ar and covered the &M0Yrnent of the Wellbeing offrEr. A grant was re1veCI for the Tap into IT project whieh was used to prowde IT support for older people. Teds Dèn was s proj8Ct for children in tre church garden which was funded by donations. l other investments hekl are designated as General, wrth the èXeOPtion ofthose h8ld for the Drenn8n bequest Wgdnesday Activities is formerly Can81 Shed. 16 Addltlonal Income collectsd and dhburned to oth•r cha•# 2024 2023 Christ'an Akl- ngte 1 MacrnilL3n Canr Support Childrèn in Neéd Cornic Relief Canng Heart IZ8mbial Embr8ee the Middb East SC 039150 SC 039907 802052 326568 1,899 704 42 65 225 265 1,882 37 31 441 341 1.266 1076329 1. Cheques re$Ve made payab to Chnsb"8n Aid have not been induded in ihese figures. TIse receipts and payments have not been included els6whara in thtr finanryal statsments. 2024 2023 Edinburgh Childrons Hospital Charity SC 020862 This d?natn made directly on ¢105ing the Nearty New Salt bank account. 556 17 Out•tandlng ¢¥pl¢•l ¢ornmllrn?w Following damage an insurance daim has baèn made for roof repairs. Vvork will be completed on rep8iTS to rnake the lfvng roses in the Sanctuary sale fotlct4ing damage. page 17
Polwarth Parlsh Church. Edlnburgh {Chur¢h of Scotland} SC 004183 Church of Scotland 010115 Appendix Funds hold on behalf of the congregation by tho chUh of Scotland General Tru5tegs 2024 2023 PITAL ACCOUNT Ciedf(8alances hdd a131 December at cost 606,914 Market V81ue of Balan al 31 December 606,914 FLtnd$ Drawn Down Closing Balance 606,914 REVENUE ACCOUNT Credit Balance 8,454 3¢XI TEMPORARY AccouKr Credit Balance at 31 December 2024 80 The Manse was transferred to the consolidated Fabric Fund as noted in note 9. The Manse was sold for £685k less property costs of £10,659 and Le of £67,435 wilh £606.914 trafisfeed to the Consolidated Fabric Fund-capllll.