POLWARTH PARISH CHURCH, EDINBURGH (CHURCH OF SCOTLAND)
36-38 Polwarth Terrace Edinburgh EH11 1LU
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
Year ended 31 December 2025
Scottish Charity number SC 004183 Church of Scotland reference 010115
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity number SC 004183 Church of Scotland reference 010115
Index to the Trustees’ report and Financial Statements Year ended 31 December 2025
| Trustees’ Annual Report | |||
|---|---|---|---|
| index | page 1 | ||
| Objectives and Activities | page 2 | ||
| Achievements and Performance | page 2 | ||
| Financial Review, Risk Management | page 4 | ||
| Reserves Policy | page 5 | ||
| Structure Governance and Management, | |||
| Reference and Administrative Information | page 6 | ||
| Trustees’ Responsibilities in relation to the | Financial Statements | page 7 | |
| Report ofthe Independent Examiner | page 8 | ||
| Statement of Financial Activities | page 9 | ||
| StatementofBalances | page 10 | ||
| Notes to the financial statements | page 11 | ||
| " | 1 to 5 | page 12 | |
| . | 6 | page 13 | |
| . | 7 to 10 | page 14 | |
| . | |||
| “ | 11 to 14 | page 15 | |
| . | 15 | page 16 | |
| . | 16to17 | page17 |
Appendix
page l
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025.
The Trustees present their annual report and financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 10 and comply with the charity’s constitution and the General Assembly Regulations for Congregational Finance, the Charity and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) applicable in the UK and Republic of Ireland.
OBJECTIVES and ACTIVITIES
The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in policy. It exists to glorify God and to work for the advancement of Christ's kingdom throughout the world. As a national church, it acknowledgesa distinctive call and duty to bring the ordinances of religion to the people in every Parish in Scotland througha territorial ministry. It co-operates with other Churches in various ecumenical bodies in Scotland and beyond.
Polwarth Parish Church as part of the Church of Scotland is under the direct supervision of the Presbytery of Edinburgh and West Lothian and by decision of the Presbytery of Edinburgh and West Lothian the congregation of Polwarth Parish Church, Edinburgh (Church of Scotland), SC004183 continues on a Basis of Reviewable Charge, but without a minister at present.
In 2025, the implementation of the Presbytery Plan continued with discussions held with neighbouring churches to find a path to form a united congregation. This is in response to the need to reduce the numbers of ministers and buildings throughout the Church of Scotiand.
Rev Peter Nelson continued as Interim Moderator, overseeing the work of the Kirk Session and assisting with church matters and services. Rev Fiona Kennedy, Ordained Local Minister, served as locum Minister until the end of September 2025, during which time she was active in the services, events and pastoral care at Polwarth. Remaining services have been covered by pulpit supply.
The Kirk Session met ten times, their focus being the Presbytery Plan and the remits of the structured Kirk Session sub-teams: Mission, Worship, Pastoral Care, Communications, Property and Finance. Mhairi Sandeman continued to serve as Session Clerk.
ACHIEVEMENTS and PERFORMANCE
This Annual Report is framed in accordance with this Presbytery Plan which puts “Mission” at its heart as outlined in the Five Marks of Mission, namely: -
TELL To proclaim the good news of the Kingdom
Polwarth Parish Church seeks to be a safe place for all people to worship regardless of race, creed, age, cultural background or sexual orientation. Our Congregational Worship Team and many members of the congregation regularly participate in our worship with Bible readings and prayers.
Services are held every Sunday at 11am and include a celebration of the Sacrament of Communion on the first Sunday in the month. The Services are presented visually on a screen and are structured yet informal and participatory. Music is provided by our supply organists. Refreshments are served after the service. The Services are streamed live, with equipment operated by trained members of the congregation and also available to view later online. A weekly e-newsletter is issued with congregational news, forthcoming events and weekly prayer readings.
The Lay Assistant and others hold a monthly Worship Service at a local Care Home.
A Good Friday Service and an Easter Day Communion Service were held at Easter.
page 2
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Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025 cont'd.
A Remembrance Day Service was conducted on 9 November attended by an RAF air cadet squadron who laid three wreaths.
On Christmas Eve we celebrated with our Christingle Service, well attended by members of the community, and was followed by the Christmas Day Family Service.
The church Garden continues to be a place visited and enjoyed by the wider community, including to the Children’s Corner “Ted’s Den”.
TEACH To teach, baptise and nurture new believers
An Easter Holiday Club was successfully run in 2025 at Polwarth in conjunction with other local churches.
TEND To respond to human need by loving service
Polwarth Parish Church is known as “The Kirk on the Canal”- Centre for Wholeness and Wellbeing. Our Wellbeing Director, Sheila Thomson, continued in post, funded by grants from the Tor Foundation Legacy and the North Merchiston Mission Fund, and provides a lead role in developing and delivering our diverse services to the community.
The Pop-up Café provides a welcoming place every Tuesday morning with refreshments and companionship. It is staffed by volunteers from the church and the community. A Digital Inclusion Drop-in programme is run regularly in conjunction with the café. The Scrabble Club meets in the afternoon.
Open and Welcome Space is held in the Small Hall every Friday morning, offering somewhere warm and friendly with free refreshments, newspapers and company for those wanting to work, study, read or meet friends.
Polwarth Parish Church is engaged with Edinburgh City Mission on the Befriending Programme.
Community and fundraising events have been organised including charity coffee mornings and participation in the Canal Festival with refreshments, games, stalls and live music. The Wellbeing Director also gives support to community groups and classes run at Polwarth including the Polwarth Baby and Toddler Group and Polwarth Bumps and Babies Group.
Polwarth Parish Church took full ownership of the “All Aboard” canal boat (previously run in partnership with the charity “People Know How”), which, under the direction of the All Aboard Coordinator, will allow it to continue to provide trips free of charge on the Union Canal for community groups, charities and other organisations.
Wednesday Activities at Polwarth continues to offer a varied programme to adults from the community to participate in activities such as baking, craft, books, games, gardening and fundraising.
The Lay Assistant and other members of the congregation place Pastoral Care at the centre of their mission, with the elders and the Wellbeing Director also visiting and contacting members of the congregation who need support or who cannot make it to church in person.
TRANSFORM To transform unjust structures of society, to challenge violence of every kind and promote peace and reconciliation.
The Labyrinth Group hosted regular drop-in sessions to provide an opportunity to walk the Labyrinth mindfully with time to sit, pray and light a candle.
page 3
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025 cont'd.
Our Tranquillity, Peace and Canalside Gardens, formed through support from the Forces and individuals, were popular places for prayer and contemplation on love and peace as was our Prayer Tree at significant times of the Christian year. Other activities included participating in Christian Aid Week, collecting food for Food Banks at Harvest Festival and with an ongoing drop off point, fundraising for Caroline's “Caring Hearts Family” in Zambia, and hosting a coffee morning in aid of Macmillan Cancer Care.
TREASURE To strive to safeguard the integrity of creation, and sustain and renew the life of the earth.
The Wednesday Activities at Polwarth group led efforts to maintain the Outdoor Worship Garden.
PROPERTY
The “Property Team” maintained the fabric of the church building and halls, which have been very popular for lets including social events, concerts and community groups.
Financial Review
The principal source of regular income comes from donations. This is made up of weekly and monthly offerings which saw a decrease on last year. There is a small decline in the number of regular givers but there has been an increase in the restricted fund income mainly from grants. Additional significant income comes from the telephone masts and wayleaves and also hail lets. Funds have been drawn down from the Consolidated Fabric Fund held by the General Trustees.
The total income for the year amounted to £315,015 (2024 £155,293). Total expenditure amounted to £212,556 (2024 £597,338). The 2025 General Fund deficit was £5,983 (2024 deficit £19,996). Investments increased in value by £4,531. Where appropriate VAT has been reclaimed at 100% under the Listed Places of Worship Grant Scheme at a value of £2,246 (2024 £41). All investments are assigned to the General Fund. At 31 December 2025 total funds (restricted and designated) which are available for the Boat project, Canal Shed, The Wellbeing Officer Post and other small funds amounted to £121,043 (2024 £40,157). The cashflow has been improved following the award of several funds in relation to the Boat project. Approval was given for funds to be drawn downs from the Consolidated Fabric Fund for building works and to be allocated to fund the Wellbeing Director.
Risk Management
The fact that the majority of the congregation's members are elderly constitutes a risk to its future, both in terms of finance and of human resources to carry out necessary functions. People of pensionable age tend to live on fixed incomes, which limit the response which can be made to the stewardship campaigns regularly run by the Kirk Session. On the other hand some very generous legacies have been assigned by members in recent years. A number of younger members of the congregation have been challenged to take up the volunteer duties which are needed to keep the church running smoothly.
page 4
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025 cont'd.
Reserves Policy
The charity trustees have considered the reserves required and have taken into account their current and future liabilities. It is the Trustees’ policy to hold reserves of approximately three months’ expenditure including designated funds. At the year end the Church held unrestricted funds of £14,742 (2024 £21,153) of which £1,782 (2024 £2,210) has been designated for the Wednesday Activities (formerly Canal Shed), Café and other small projects. The remaining balance of £12,960 (2024 £18,943) represents about less than one month’s expenditure. The church also holds £189,294 (2024 £75,894) of restricted funds (£70,033 represents the value of the Boat) held for the purposes specified in note 15.
page 3
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025 cont'd.
Structure, Governance and Management The congregation is a registered charity number SC004183, is administered in accordance with the terms of the Deed of Constitution (Unitary Form) and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland.
Members of the Kirk Session are the charity trustees. The Kirk Session members are elders of the church chosen from those members of the church who are considered to have the appropriate gifts and skills. The minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. With the approval of the Presbytery of Edinburgh the Property committee is convened by a person who is not an elder but is under the supervision of the Minister and the Session Clerk. The Kirk Session which meets six times a year is responsible for spiritual affairs within the church.
Reference and Administrative Information Charity Name Polwarth Parish Church, Edinburgh (Church of Scotland) Charity Registration Number SC 004183 Congregation Number 010115 Contact Address Polwarth Parish Church Principal[Office][Bearers] 36-38 Polwarth Terrace, Edinburgh, EH11 1LU Interim Moderator Rev. Peter Nelson Locum Minister Rev. Fiona Kennedy (Resigned 30/09/2025) Session Clerk Mhairi Sandeman Treasurer Jennifer Mackenzie Independent Examiner Sarah Hollis CA, Hollis Accounting Ltd, 3 Melville Crescent, Bankers Edinburgh,Bank of Scotland,EH3 7HWDairy Branch, Edinburgh. Church of Scotland Investors’ Trust, Edinburgh
Charity Trustees
Margaret Anderson Lay assistant Maureen Bowman Anne McDonald Audrey Currie (resigned 12/01/2025) Ellen Pereira Audrey Downie Alastair Findlay Doris Tulloch (resigned 01/09/2025) Astrid Telfer Claire Holmyard Peter Braynion Michael Holmyard Elaine Hopley Alison Wright Dawn Purves Rev. Peter Nelson interim Moderator
Organist
Lance Whitehead (resigned 25/04/2025)
page 6
Polwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annuai Report for the year ended 31 December 2026 cont'd.
Trustees’ Responsibilities in relation to the Financial Statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law appiicabie to charities in Scotland requires the charity trustees to prepare financial statements for each year which showa true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
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« select suitable accounting policies and apply them consistently;
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observe the method and principles in the applicable Charities SORP:
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make judgments and estimates that are reasonable and prudent;
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» tate whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements,
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
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The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.
The trustees are responsible for the maintenance and integrity of the charity and for any financial information on the congregation's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legisiation in other jurisdictions.
Approved by the Trustees and signed on their behalf, aan A Alastairoes Findlay i, \ Trustee }
‘1 March 2026
page 7
Poiwarth Parish Church, Edinburgh (Church of Scotland) Scottish Charity SC 004183 Church of Scotland reference 010115 Trustees’ Annual Report for the year ended 31 December 2025 cont'd.
Independent Examiner’s Report to the Trustees of Polwarth Parish Church For the year ended 31 December 2025,
Ll report on the accounts of the charity for the year ended 31 December 2025 which are set out on pages 9 to 17.
Respective responsibilities of trustees and examiner.
The trustees of the charity are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity trustees consider that the audit requirements of Regulation 10 (1) (a) to (c) of the 2006 Accounts Regulations do not apply. It is my responsibility to examine the accounts as required under section 44 (1) c of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement.
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement.
In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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® to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
‘ula Ho | \ 5 We
Sarah Hollis CA, Hollis Accounting Ltd,
3 Melville Crescent, Edinburgh EH1I4 SHY
Date. |Z|3 | 2026
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Polwarth Parish Church, Edinburgh (Church of Scotland) $C004183 Church of Scotland reference 010115
Balance Sheet at 31 December 2025
| nate | nate | 34,42.25 | 34,42.25 | 31.12.24 | |||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Fixed Assets | |||||||
| Tangible assets | g | 76,033 | 37947 | ||||
| investments | 10 | 58,681 | 69,131 | ||||
| Total fixed Assets | Fe | 128,714 estan atsatte |
107,078 Ko |
||||
| Current Assets | |||||||
| Debtors | 11 | 2,557 | 1534 | ||||
| Deposits with Church ofScotland | 10 | 1,188 | |||||
| Bank CurrentAccounts | 91,544 | 17,337 | |||||
| 94,411 | 20,056 | ||||||
| Less:- Liabilities | |||||||
| Creditors falling due | within one year | 12 | 18,038 | 29,358 | |||
| Net CurrentAssets | SERA | 76,073 aN |
~8,302 SR |
||||
| TotalAssets | 204,789 i |
97,777 Fee tac tenteraesnina sco Siete |
|||||
| Funds | 1§ | ||||||
| Permanent Endowment | |||||||
| J.H.Drennan Bequest | 752 | 730 | |||||
| 752 | 730 | ||||||
| Restricted | |||||||
| Flower Fund | ~ | 563 | |||||
| Float the Boat | 6,757 | 6,757 | |||||
| Float the Boat Year485 | 43,743 | 24,880 | |||||
| TOR Foundation - Wellbeing Director | - | §,848 | |||||
| Wellbeing DirectorY4-5 | 4-5 | 45,366 | “ | ||||
| Srnall Grant for Jubilee | - | “ | |||||
| Tranquility Bench | 4g | 47 | |||||
| Warm Spaces | 485 | $2 | |||||
| Manse capital fund | ~ | - | |||||
| Wheelchair Lift (Restricted) | 22,900 | - | |||||
| Canal Boat | 8,033 | BAT | |||||
| Designated | vemenf Erosion |
189,294 encoretate y |
ee 75,894 SS |
||||
| Canal project | 79 | 79 | |||||
| Wednesday Activities | formerly CanalShed | - | 474 | ||||
| Labyrinth | 149 | 49 | |||||
| Weilbeing Fund | 54 | 44 | |||||
| Garden Plantand Outdoor Worship Fund | - | - | |||||
| Wheelchair Lift | 1,500 | 4,500 | |||||
| Teds Den | - | - | |||||
| Unrestricted | 1,782 Sci |
2,210 Basesacre |
|||||
| General Fund | |||||||
| at 1 January | 18,943 | 38,939 | |||||
| Surplus (deficit) for year | -§,983 | ~19,996 | |||||
| at 31 December2025 | 12,860 Ponsa cael |
18,943 Brasseriescsicnetonertrsacssan |
|||||
| Totalfunds | ~~ 204,789. SETAE |
~__90aTt Bacesscecs asain encenna |
|||||
| The Financial Statements wereapproved by |
the KirkSessionon | March | 2026and signedon | ||||
| their behalf by: Treasurer Trustee |
JenniferMackenzie AlastairFindlay |
; ; REEBE aa a 4 \ TEae Tins |
secceensevsese OF ee |
||||
| page10 | _ |
Polwarth Parish Church, Edinburgh (Church of Scotland) SC 004183 Church of Scotland 010115
Notes to the financial statements for the year ended 31 December 2025
Accounting policies.
The principal accounting policies, which have been prepared consistently in the current and preceding year in dealing with items considered material to the accounts, are set out below.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The charity constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern as the charity has sufficient reserves and can adjust activity in line with income received.
Fund accounting
Funds are classified as either endowment funds, restricted funds, or unrestricted funds defined as follows: Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income is used for the purpose defined within the objects of the charity. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor, or with their authority, or created through legal processes, but still within the wider objects of the charity. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If a part or parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met and it is probable that the income will be received and the amount can be measured reliably.
Donated services and facilities
Donated professional services and facilities are recognised as income when the charity has control over the item, any conditions associated with the item have been met, the receipt ofeconomic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102) the general volunteer time of congregation members is not recognised.
Interest receivable
Interest on funds held on deposits is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the Bank.
Fixed Assets
The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church halls and manse. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the statement of financial activities in the period in which the liability arises. The title deeds for the church and halls were transferred to the Church of Scotland in March 2019. A narrow boat was purchased in 2021. Depreciation on this asset is provided on a straight-line basis to write off the initial value, less residual value, over its estimated useful life as follows: Canal Boat - 25 years. The Manse property at 88 Craiglockhart Road, Edinburgh, acquired in September 2005, has until its sale, been included as a fixed asset valued at original cost together with upgrading costs. The Trustees have considered that a depreciation charge on this property would not be appropriate. The titleholders for the manse were the Minister and Session Clerk ex officiis, although the manse was under the control of the General Assembly.
Investments
Fixed asset investments are stated at market value at the balance sheet date. All investments are in income and growth funds administered by the Church of Scotland Investors’ Trust, which provides monthly market values. Gains and/or losses on revaluations and disposals are allocated to the appropriate funds.
Taxation
The Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and therefore resources expended include irrecoverable input VAT.
page Il
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Polwarth Parish Church, Edinburgh (Church of Scotland) $C004183 Church of Scotland 010115
Notes to the financial statements for the year ended 31 December 2025 cont'd
==> picture [417 x 200] intentionally omitted <==
----- Start of picture text -----
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|7|Staff costs|and|numbers|
|Salaries|60,303|56,142|
|Social|security|costs|-|-|
|Total|60,303|56,142|
|The|average|number|of employees|during|the|year,|calculated|on|a|head|count was|3.|
|There|have|been|some|additional|freelance|cleaners|used|in|this|period.|
|2025|2024|
|Administration|Number|3|Number2|
|Music|staff|1|1|
|Premises maintenance|||
|No|employee|received|any|benefits|in|2025|or 2024.|is|eee|
----- End of picture text -----
All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipends, national insurance, pension, housing and loan funds. Ministers’ stipends are paid in accordance with the national stipend scale related to years of service. For the year under review stipends ranged between £ 32,433 and £39,856.
8 Trustee Remuneration and Related Party Transactions
During the year no Trustees received reimbursement of expenses
The amount donated to the congregation by Trustees was £16,730 in 2024 and £23,205 in 2025.
==> picture [535 x 299] intentionally omitted <==
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|9|Tangible|Fixed|Assets|2025|2024|
|Cost|Canal|Boat|Total|Manse|Canal|Boat|Total|
|£|£|£|£|£|
|At|1|January|b/f|43,284|43,284|407|243|43,284|450,527|
|Acquisitions/(Disposals)|-|-|-407|243|-|-407,243|
|Donation|Value|34,206|34,206|
|At 31|December|c/f|77,490|77,490|-|43,284|43,284|
|Accumulated|Depreciation|
|At|1|January|b/f|5,337|5,337|-|3,558|3,558|
|Charge|for year|2,120|2,120|-|1,779|1,779|
|At|31|December|c/f|7,457|7,457|-|§,337|5,337|
|Net Book|value|at|31|December|70,033|70,033|-|37,947|37,947|
|10|Investments|2025|2024|
|£|£|
|Market value|at|1|January 2024|69,131|63,227|
|Revaluation|gain|/|(loss))|for year|4,553|5,904|
|Realised|gain|/|(loss)|on|investments|sold|-|-|
|Sale|of Investments|-15,003|-|
|Market|value|at|31|December 2025|58,681|69,131|
|Investments|at cost|33,389|42,420|
----- End of picture text -----
All investments are held with the Church of Scotland Investors’ Trust in Growth Funds.
page 74
Polwarth Parish Church, Edinburgh (Church of Scotland) $C004183 Church of Scotland 010115 Notes to the financial statements for the year ended 31 December 2025 cont'd
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| 11 | Debtors | |||||
| Taxation on GiftAid | 859 | 691 | ||||
| VAT recovery | 283 | 222 | ||||
| Payments in advance | 888 | 831 | ||||
| Trade Debtors | 527 | -213 | ||||
| 2,557 | 1,531 | |||||
| 12 | Creditors | |||||
| Received in advance | 12,448 | 22,758 | ||||
| Accruals | 4,418 | 4,394 | ||||
| Trade Creditors | 546 | 1,804 | ||||
| Others | 626 | 402 | ||||
| 18,038 | 29,358 | |||||
| 13 | Analysis ofNetAssets amongstFunds | ) | ||||
| 2025 | General | Designated | Restricted | Endowment | Total | |
| £ | £ | £ | £ | £ | ||
| Fixed Assets | - | - | 70,033 | - | 70,033 | |
| Investments | 57,929 | - | - | 752 | 58,681 | |
| CurrentAssets | -26,932 | 1,782 | 119,260 | - | 94,111 | |
| Current Liabilities | -18,038 | - | - | - | ~18,038 | |
| 12,959 | 1,782 | 189,293 | 752 | 204,789 | ||
| 2024 | General | Designated | Restricted Endowment | ‘Total | ||
| £ | £ | £ | £ | £ | ||
| Fixed Assets | - | - | 37,947 | - | 37,947 | |
| Investments | 68,401 | - | - | 730 | 69,131 | |
| CurrentAssets | -20,101 | 2,210 | 37,947 | - | 20,056 | |
| Current Liabilities | -29,358 | - | - | - | -29,358 | |
| 18,942 | 2,210 | 75,894 | 730 | 97,777 |
14 Volunteers
In common with all congregations of the Church of Scotland this congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contributions of volunteers are many and varied, and much of the activity would be unable to continue were it not for the commitment shown.
page 15
Polwarth Parish Church, Edinburgh (Church of Scotland) SC004183 Church of Scotland 010115
Notes to the financial statements for the year ended 31 December 2025 cont'd
| 16 | Movements in Funds 2025 | at | Income | Expenditure | Transfers | Revaluation | at |
|---|---|---|---|---|---|---|---|
| 1.1.2025 | gains/{losses} | 31.12.2025 | |||||
| Endowment funds | £ | £ | £ | £ | £ | £ | |
| J.H. Drennan Bequest | 730 | 40 | -40 | 22 | 752 | ||
| Restricted funds | |||||||
| Flowerfund | 563 | - | - | -563 | - | - | |
| Float the Boat | 6,757 | - | - | - | “ | 6,757 | |
| Floatthe Boat Years4&5 | 24,650 | 36,346 | ~17,254 | - | - | 43,742 | |
| TOR Foundation | 5,848 | - | ~5,030 | -818 | - | - | |
| Wellbeing Officer Years4&5 | - | 69,308 | ~24,760 | 818 | 45,366 | ||
| Warm Spaces | 85 | - | -193 | 563 | - | 455 | |
| Tranquility Bench | 40 | - | - | - | - | 40 | |
| Canal Boat | 37,947 | 34,206 | ~2,120 | - | - | 70,033 | |
| Boat Wheelchair Lift (Restricted) | - | 22,900 | 22,900 | ||||
| 75,890 | 162,760 | -49,358 | - | - | 189,294 | ||
| Unrestricted Funds - Designated | |||||||
| Wednesday Activities Wellbeing |
471 111 |
- - |
-471 ~57 |
- ~ |
- - |
- 54 |
|
| Café Project | 79 | - | - | - | - | 79 | |
| Labyrinth | 49 | 100 | - | - | - | 149 | |
| Boat Wheelchair lift | 1,500 | - | - | - | - | 1,500 | |
| General | 2,210 18 943 |
100 152, 15 |
-§29 -162,66 |
- 40 |
- 4,531 |
1,782 12 960 |
|
| 21,153 | 152,215 | ~163,197 | 40 | 4,531 | 14,742 | ||
| Totals | 97,777 | 315,015 | -212,556 | - | 4,553 | 204,788 | |
| Movements in Funds 2024 | at | income | Expenditure | Transfers | Revaluation | at | |
| 1.1.2024 | gains/{losses} | 31.12.2024 | |||||
| Endowmentfunds | £ | £ | £ | £ | £ | £ | |
| J.H. Drennan Bequest | 723 | 40 | -40 | 7 | 730 | ||
| Restricted funds | |||||||
| Flowerfund | 563 | - | - | - | - | 563 | |
| Float the Boat | 7,768 | 5,631 | ~6,642 | - | - | 6,757 | |
| Float the BoatYears4&5 | 406 | 35,120 | -10,876 | - | - | 24,650 | |
| TOR Foundation | 35,494 | - | -29,646 | - | - | §,848 | |
| Warm Spaces | 311 | - | -229 | - | - | 82 | |
| Jubilee | 42 | - | ~42 | - | - | - | |
| Tranquility Bench | 47 | 40 | -40 | - | - | 47 | |
| Tap into IT | - | 2,050 | -2,050 | - | ~ | - | |
| Manse capital | 407,243 | - | -407 243 | - | - | - | |
| Canal Boat | 39,726 | - | -1,779 | - | - | 37,947 | |
| 481,600 | 42,841 | -458,547 | - | - | 75,894 | ||
| Unrestricted Funds-Designated | 8 | ||||||
| Garden and Outdoor Worship Wednesday Activities Wellbeing |
496 1,080 111 |
50 - |
~496 -659 - |
- - - |
- - - |
- 471 111 |
|
| Café Project | 659 | -580 | - | - | 79 | ||
| Labyrinth | 309 | -260 | - | - | 49 | ||
| Teds Den | - | 3,450 | -3,450 | - | - | - | |
| Boat Wheelchair lift | - | 1,612 | -112 | - | - | 1,500 | |
| 2,655 | 6,112 | -§,557 | - | - | 2,210 | ||
| General | 38,939 107,300 | -133,234 | 40 | 5,897 | 18,943 | ||
| 41,595 112,412 | -138,791 | 40 | 5,897 | 21,153 | |||
| Totals | 533,918155,293 | -597,338 | - | 5,904 | 97,777 |
page 16
Polwarth Parish Church, Edinburgh (Church of Scotland) $C004183 Church of Scotland 010115
Notes to the financial statements for the year ended 31 December 2025 cont'd
Notes
Income from the J.H.Drennan bequest is for the maintenance of the ministry. The Flower fund is to provide flowers for the church. This fund is no longer being used. It was decided by the Kirk Session that the remaining fund would be transferred to Warm Spaces Float the Boat ~ the boat was purchased in 2021 with the value being transferred to a fixed asset. The running and maintenance costs for the first 4 years have come from this fund. Following the closure of People Know How the 50% share of the boat they owned was donated to Polwarth Parish Church.
A fund has been set up to cover the running costs in years 4 & 5.
The proceeds from the manse sale in 2024 are held by the General Trustees in the Consolidated Fabric Fund The income from the CFF has been drawn down for general maintenance charges. Warm Spaces - Grant money was received to cover the expense of providing a warm space during the cost of living crisis. This fund will continue and has been topped up with a transfer from the Flower fund. TOR Foundation - with the third year complete the balance was transferred on to years 4 & 5 Wellbeing Officer Fund Years 4 & 5 - this fund is made up of income from the TOR foundation and funds drawn down from the CFF held by the general trustees. It is to be used to fund the Wellbeing Officer and additional hours by the administrator.
Ail other investments held are designated as General,
with the exception of those held for the Drennan bequest. Wednesday Activities is formerly Canal Shed.
16 Additional income collected and disbursed to other Charities
| Additional income collected and disbursed to otherother Charities | Additional income collected and disbursed to otherother Charities | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Christian Aid -see note 1 | SC 039150 | 2,247 | 1,899 |
| Macmillan Cancer Support | SC 039907 | - | 704 |
| Children in Need | 802052 | 149 | 42 |
| Comic Relief | 326568 | 320 | 65 |
| Caring Heart(Zambia) | 453 | 225 | |
| Embrace the Middle East | 1076329 | 347 | 265 |
| 3,516 | 3,200 |
- Cheques received made payable to Christian Aid have not been included in these figures.
17 Outstanding capital commitments
There are no outstanding capital commitments.
page 17
Polwarth Parish Church, Edinburgh (Church of Scotland) SC 004183 Church of Scotland 010115
Appendix
Funds held on behalf of the congregation by the Church of Scotland General Trustees
| 2025 | 2024 | |
|---|---|---|
| CAPITALACCOUNT | £ | £ |
| Credit Balances held at31 December atcost | 543,396 | 606,914 |
| Market Value ofBalances at 31 December | 543,396 | 606,914 |
| Funds Drawn Down | ||
| ClosingBalance | 543,396 | 606,914 |
REVENUE ACCOUNT
| Credit Balance | 12,562 | 8,454 | ||
|---|---|---|---|---|
| TEMPORARYACCOUNT | ||||
| CreditBalanceat31December2025 | ~__ | 2,480 | - | 80 |
TEMPORARY ACCOUNT
Credit Balance at 31 December 2025