Scottish charity number: SC004487 Congregation number: 010102
St Stephen’s Comely Bank Church of Scotland, Edinburgh
Annual Report and Financial Statements Year ended 31 December 2024
St Stephen’s Comely Bank Church of Scotland, Edinburgh Contents of the Annual Report and Financial Statements for the year ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 - 4 |
| Report of the Independent Examiner | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 – 14 |
St Stephen’s Comely Bank Church of Scotland, Edinburgh
Report of the Trustees for the year ended 31 December 2024
The Trustees present the annual report and accounts for St Stephen’s Comely Bank Church, Edinburgh (SSCB) for the year ended 31 December 2024. The accounts are presented this year on the accruals basis due to an increase in income beyond the maximum permitted level for use of the receipts and payments basis. The prior year comparatives have also been restated.
Reference and administrative information
Charity name: St Stephen’s Comely Bank Church of Scotland, Edinburgh Charity registration number: SC004487 Congregation number: 010102 Contact address: Church Office 10 Comely Bank Road Edinburgh EH4 1DW Bankers: Bank of Scotland 43 Comely Bank Edinburgh EH4 1AF
Constitution and governance
SSCB is a Church of Scotland congregation established under the unitary form of constitution.
The Elders serving on the Kirk Session are the trustees of the charity and have been chosen from those members of the church who are considered to have the appropriate gifts and skills. The minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. The Kirk Session is responsible for the recruitment, appointment, induction and training of new trustees, when required.
The Kirk Session met formally seven times during the year, with meetings considering both the practical and spiritual matters of the church. Routine business is dealt with by circulation of papers.
The Trustees who served during the year were as follows:
Day to day oversight for financial matters is delegated to the Finance Convenor and the Treasurer, , a member of the congregation who carries out the bookkeeping.
The Minister and Session Clerk hold title to both the church and the manse (see page 6) on behalf of the members.
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St Stephen's Comely Bank Church of Scotland, Edinburgh Report of the Trustees for the year ended 310ecember 2024 ObJectl¥es and actlvltles SSCB is an evangelical congregation of the Church of Scotland, with one objective.. to make God's ways known to all. This is done through our worship together each Sunday. meetings for prayer, encouragement and teaching- offering homegroups for small group ministry and discipleship,. ministry to the older members of our community through our lunch club- youth ministry in our local schools and community. family outreach support for families in our community. the provision of meeting space for Guides. Scouts and other community groups,. and special 8v8nts. Achlevements and performance This year, we have been working with our new Parish Grouping cornmunity pushing forward with a framework for us IGorgie and Palmerston Place Church, Murrayfield Church and ourselves) to effectively work together. With a number of absences through ill-health and vacancies to fill, progress has been slower than we would have liked. But we are excited about the opportunities for thi5 in the next 12 months. Our Sunday services continua to be a place where church family meet together to share in worshipping the Lord and in fellowship with one another. Our Praise Band has blessed us at one service each month, the other services being covered by our technical team. The numbers of our church family involved in our services- reading the Word, leading in prayers, teaching our children and young people, looking after babies, welcoming people, serving coffee - continues to grow and we are grateful for the high proportion of our church family who actively serve each week. We are also blessed with lunch after our service once each month- always well attended. We are thankful for our staff team. Our Minister, George Vidits, has had some periods of absence this year with health issues but we have been able to cover the preaching at our services from within the church staff and family, and with th support Of in November, -watkins in Dècember an from January 2025 until the date of this report. Ouryouth Pastor, has continued to èxtènd our reach into our local schools- Broughton High School primarily, but also in Flora Stevenson Primary School. This has included bringing Try Praying into the classrooms, leading at Assemblies and running weekly lunchtime clubs. ran a successful holiday club at Easter for primary aged children, supportèd by members of the church family who gave up their week to help. We have seen new seeds of growth in our Inspire group on a Sunday morning which now boasts 11 teenagers who regularly attend. We filled a new postthis year when joined us as our Families Outreach Worker. Funded by the Pioneer Mission Fund, this role is to build a bridge between our church and families in our community, Particularly thosè who rèquirè additional practical support. Building on our succèssful Thursday Baby and Toddler group. we have now started a monthly Comely Play on a Saturday morning which invf(es families into our halls for a time of play and bible stories. We have seen a growing group of families happy to join with us and were pleasèd by how many tame to our Christinglè sèrvicè this year. Our cleaner of many years, we are grateful for her service. continues tirelessly with her love and caro for our building- Prayer continues to be at the heart of what we do. As well as a prayer meeting before each Sunday service, we have a prayer ministry team who are available to pray with people after each service and a quarterly day of prayer where we cover prayer from 10am to 10pm on a Saturday. These days of prayer are held in the church and we now schedule them for the Saturday before our Communion Sundays as the sense of thè Holy Spirit after these time5 Of prayer has been such a 'felt' blessing in our Sanrtuary. Pagè 2
St Stephen’s Comely Bank Church of Scotland, Edinburgh
Report of the Trustees for the year ended 31 December 2024
Achievements and performance (continued)
Our Lunch Club (for retired people) and Baby and Toddler group (for young families) continue to be very well attended. These are authentic places of Christ-centred service where there is always a bible story or faithbased message. We pray that these will be outreaches which build a bridge into our worship community.
Our 4 homegroups continue to be a place for discipleship and care. We have a hope that as many from our church family as possible are part of one of these small groups as we believe it is such an important addition to Sunday morning worship in our journeys of faith.
At the end of the year, we again hosted the Bethany Christian Trust Christmas trees, along with jointly hosting a Christmas Fair with them in our church. We see this outreach as a real chance to engage with people in our local community who are coming to pick up their trees.
We finished the year with 111 members (2023: 111 members). In addition, we have around 26 children and young people who are part of our Inspire, Sunday Club and creche communities.
None of what we do at Church would be possible without the commitment of our faithful community of members who volunteer in so many ways to serve.
Financial review
Principal sources of funding
The Church is primarily funded by church members through their offerings and the Gift Aid thereon. This year, a generous legacy was left to the church by a dearly loved and missed member of our church family which has significantly improved our financial position. It should however be noted that we have an emerging trend of a decreasing number of high value givers as those members either move on elsewhere or reduce their giving due to changes in circumstances.
Results for the year
The Accounts for the year are set out on pages 6 to 14. They have been restated this year to comply with the Statement of Recommended Practice for Charities 2019 which applies to all charities with income over £250k. This means that our figures for 2023 have also been restated on the same basis to provide comparability.
The Statement of Financial Activities on page 6 shows a surplus of £125,796 (2023: restated surplus of £16,187), comprising a deficit on general funds after transfers of £3,353 (2023: restated deficit of £3,171), a surplus on designated funds of £135,267 (2023: £nil) and a deficit on restricted funds after transfers of £6,118 (2023: surplus of £19,358).
The Church’s funds totalled £975,330 (2023 restated: £849,534) at the end of the year and are divided between general funds of £18,818 (2023 restated: £22,171), designated funds of £935,267 (2023 restated: £800,000) and restricted funds of £21,245 (2023: £27,363).
Reserves
It is the policy of the church to maintain unrestricted funds of approximately three months of unrestricted expenditure. This allows sufficient funds to enable the ongoing work of the Church to be maintained. Per the Statement of Balances on page 7, the general fund at 31 December 2024 amounted to £18,818 (2023: £22,171) which falls short of this level. This shortfall will be addressed as part of the discernment process being undertaken by the Kirk Session on the appropriate use of the legacy received this year of £135,267. We have already agreed to a thanksgiving offering of 10% to be donated to Christian partners we work with in our community.
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St Stephen’s Comely Bank Church of Scotland, Edinburgh
Report of the Trustees for the year ended 31 December 2024
Risk assessment
The Trustees have assessed the risks to which the Church is exposed and are satisfied that systems are in place to mitigate those risks. The Kirk Session regularly discusses both financial and non-financial risks. The latter include those associated with occupying church buildings and employing staff, together with the risks associated with groups and individuals using our buildings.
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and UK Accounting Standards.
Charity law in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the charity and of the income and expenditure 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 then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state 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 the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the charity’s financial position. The Trustees are also responsible for taking such steps as are reasonably open to them to safeguard the charity’s assets and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website.
Signed on behalf of the Trustees on 13 March 2025:
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St Stephen’s Comely Bank Church of Scotland, Edinburgh
Report of the Independent Examiner to the Trustees for the year ended 31 December 2024
I report on the accounts of the church for the year ended 31 December 2024 which are set out on pages 6 to 14.
Respective responsibilities of trustees and examiner
The Charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention
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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.
Cornerstone Accounting Ltd Chartered Accountants Date: 28 March 2025
11 Erngath Road Bo’ness EH51 9DP
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Statement of Financial Activities
For the year ended 31 December 2024
| General Designated fund funds Notes £ £ Income and endowments Donations and legacies 2 81,154 135,267 Income from charitable activities 3 151 - Income from trading activities 4 20,564 - Total income and endowments 101,869 135,267 Expenditure Expenditure on charitable activities Raising funds 5 98 - Charitable activities 6 104,168 - Total expenditure 104,266 - Net income/(expenditure) (2,397) 135,267 Transfers between funds 10 (956) - Net movement in funds (3,353) 135,267 Total funds brought forward 22,171 800,000 Total funds carried forward 18,818 935,267 Represented by: General fund 10 18,818 - Designated funds 10 - 935,267 Restricted funds 10 - - Total funds 18,818 935,267 |
Restricted funds £ 39,854 3,215 - 43,069 16 50,127 50,143 (7,074) 956 (6,118) 27,363 21,245 - - 21,245 21,245 |
2024 Total £ 256,275 3,366 20,564 280,205 114 154,295 154,409 125,796 - 125,796 849,534 975,330 18,818 935,267 21,245 975,330 |
General fund £ 86,780 1,145 13,944 101,869 16 107,524 107,540 (5,671) 2,500 (3,171) 25,342 22,171 22,171 - - 22,171 |
Designated Restricted funds funds £ £ - 80,005 - 3,253 - - - 83,258 - 21 - 61,379 - 61,400 - 21,858 - (2,500) - 19,358 800,000 8,005 800,000 27,363 - - 800,000 - - 27,363 800,000 27,363 Restated |
2023 Total £ 166,785 4,398 13,944 185,127 37 168,903 168,940 16,187 - 16,187 833,347 849,534 22,171 800,000 27,363 849,534 |
|---|---|---|---|---|---|
The notes on pages 8 to 14 form part of these financial statements.
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Balance sheet
As at 31 December 2024
| Notes Fixed assets Tangible assets 7 Total fixed assets Current assets Debtors 8 Cash at bank and in hand Total current assets Liabilities Creditors: falling due within one year 9 Net current assets Total assets less current liabilities Net assets Funds of the charity General fund 10 Designated funds 10 Restricted funds 10 Total charity funds |
General fund £ - - 6,035 16,675 22,710 3,892 18,818 18,818 18,818 18,818 - - 18,818 |
Designated funds £ 800,000 800,000 - 135,267 135,267 - 135,267 935,267 935,267 - 935,267 - 935,267 |
Restricted funds £ - - 1,850 19,395 21,245 - 21,245 21,245 21,245 - - 21,245 21,245 |
2024 Total £ 800,000 800,000 7,885 171,337 179,222 3,892 175,330 975,330 975,330 18,818 935,267 21,245 975,330 |
General fund £ - - 5,180 17,935 23,115 944 22,171 22,171 22,171 22,171 - - 22,171 |
Designated Restricted funds funds £ £ 800,000 - 800,000 - - - - 27,363 - 27,363 - - - 27,363 800,000 27,363 800,000 27,363 - - 800,000 - - 27,363 800,000 27,363 Restated |
2023 Total £ 800,000 800,000 5,180 45,298 50,478 944 49,534 849,534 849,534 22,171 800,000 27,363 849,534 |
|---|---|---|---|---|---|---|---|
The financial statements on pages 6 to 14 were approved by the Trustees on 13 March 2025 and signed on their behalf by:
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St Stephen’s Comely Bank Church of Scotland, Edinburgh
Notes to the Financial Statements for the year ended 31 December 2024
1. Accounting policies
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with FRS 102, and in compliance with the Charities SORP 2019 (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The principal accounting policies adopted in the preparation of the financial statements are set out below.
St Stephen’s Comely Bank Church of Scotland, Edinburgh meets the definition of a public benefit entity.
Basis of financial statements
The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accounts have been prepared on a going concern basis.
Income and debtors
All income is recognised when the Charity is legally entitled to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Interest on funds held on deposit is included when receivable.
Donated goods and services, principally the service of volunteers, have not been quantified for the purposes of the financial statements.
Debtors are valued at cost at the year-end and adjusted for any amounts considered to be irrecoverable.
Expenditure and creditors
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Creditors are valued at cost at the year-end and split between amounts due in less than one year and amounts due in more than one year.
Tangible fixed assets
All tangible fixed assets over £1,000 are capitalised at cost. Depreciation is provided at the following percentages on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:
Land and buildings 0%
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit account.
Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows:
Unrestricted funds comprise income received for the objects of the charity without further specified purpose and are available as general funds or are placed within designated funds which can be used for purposes in agreement with its charitable objectives.
Restricted funds comprise income which has been received for the objects of the charity and specified for a restricted purpose within these objects by the donor.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income arising is used for the purpose defined in the objects of the charity.
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
| 2. Donations and legacies Unrestricted funds £ Offerings 67,525 Gift aid receivable 13,629 Grants - Legacies 135,267 216,421 3. Income from charitable activities Unrestricted funds £ Fundraising income - Ministry groups income 151 Weddings and funerals - 151 4. Income from trading activities Unrestricted funds £ Hall letting income 20,564 20,564 5. Expenditure on raising funds Unrestricted funds £ Card machine costs 98 98 |
Restricted funds £ 29,836 6,668 3,350 - 39,854 Restricted funds £ - 3,215 - 3,215 Restricted funds £ - - Restricted funds £ 16 16 |
Total 2024 £ 97,361 20,297 3,350 135,267 256,275 Total 2024 £ - 3,366 - 3,366 Total 2024 £ 20,564 20,564 Total 2024 £ 114 114 |
Unrestricted funds £ 69,151 17,389 240 - 86,780 Unrestricted funds £ 895 - 250 1,145 Unrestricted funds £ 13,944 13,944 Unrestricted funds £ 16 16 |
Restricted funds £ 53,200 9,008 17,797 - 80,005 Restricted funds £ 650 2,603 - 3,253 Restricted funds £ - - Restricted funds £ 21 21 |
Total 2023 £ 122,351 26,397 18,037 - 166,785 Total 2023 £ 1,545 2,603 250 4,398 Total 2023 £ 13,944 13,944 Total 2023 £ 37 37 |
|---|---|---|---|---|---|
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
6. Expenditure on charitable activities
| Unrestricted funds £ Giving to Grow contributions 60,735 Presbytery dues 1,102 Gross salaries 7,289 Employer pension 1,164 Minister's expenses 1,546 Pulpit supply and worship expenses 151 Ministry and mission expenses 367 Ministry group expenses - Building redevelopment costs - Church repairs and maintenance 2,836 Manse repairs and maintenance 864 Manse council tax 3,738 Other building costs 270 Church utility and water costs 11,129 Insurance 6,888 Church office and IT costs 3,402 Licence costs 1,392 Catering, hygiene and cleaning costs 895 Donations - Independent examination 144 Other expenses 256 Total expenditure 104,168 |
Restricted funds £ - - 35,750 874 - - - 5,992 - 4,834 2,376 - - - - 301 - - - - - 50,127 |
Total 2024 £ 60,735 1,102 43,039 2,038 1,546 151 367 5,992 - 7,670 3,240 3,738 270 11,129 6,888 3,703 1,392 895 - 144 256 154,295 |
Unrestricted funds £ 59,722 1,019 18,090 - 1,511 638 340 - - 1,285 1,284 3,638 123 8,510 6,425 2,011 1,064 1,544 100 144 76 107,524 |
Restricted funds £ - - 26,649 - - - - 7,223 27,418 89 - - - - - - - - - - - 61,379 |
Total 2023 £ 59,722 1,019 44,739 - 1,511 638 340 7,223 27,418 1,374 1,284 3,638 123 8,510 6,425 2,011 1,064 1,544 100 144 76 168,903 |
|---|---|---|---|---|---|
Giving to Grow contributions are based on the level of our income each year and are used to fund ministry staff employed by the Church of Scotland and mission work of the wider Church.
Ministry group expenses include all expenses (excluding salaries) or our Youthwork, Families work, Lunch Club and Community Money Advice centre.
Support costs have not been separately identified as the trustees consider there is only one charitable activity.
The average number of staff during the year was 3 (2023:2). No employees were paid more than £60,000.
All Church of Scotland congregations contribute to the National Stipend Fund which pays the employment costs of the Minister. Minister's stipends are paid in accordance with the national stipend scale which is related to years of service. This year, the minimum stipend was £31,642 and the maximum (for more than 5 years' service) was £38,884.
There are no paid staff of the Church who fall within the definition of Key Management Personnel.
No accrual has been made for holiday pay at the year-end as unused holidays are not carried forward.
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
7. Tangible fixed assets
| Cost At 1 January 2024 At 31 December 2024 Depreciation At 1 January 2024 At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Land and buildings £ 800,000 800,000 - - 800,000 800,000 |
Total £ 800,000 800,000 - - 800,000 800,000 |
|---|---|---|
Land and buildings consist of the church manse at 8 Blinkbonny Crescent, Edinburgh, EH4 3NB. The manse is stated at a prudent estimate of valuation based on property sales of similar properties in the street over the last 5 years.
The Church building is also owned by the congregation but the Trustees have not sought a valuation of the building nor is an estimate considered to be sufficiently accurate to be meaningful.
8. Debtors
| Trade debtors Gift aid recoverable Other debtors |
General fund £ 220 5,286 529 6,035 |
Restricted funds £ - - 1,850 1,850 |
2024 £ 220 5,286 2,379 7,885 |
2023 £ - 5,180 - 5,180 |
|---|---|---|---|---|
9. Creditors: falling due within one year
| Trade creditors Accruals and deferred income Other creditors |
General fund £ 378 2,178 1,336 3,892 |
Restricted funds £ - - - - |
2024 £ 378 2,178 1,336 3,892 |
2023 £ - 944 - 944 |
|---|---|---|---|---|
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
10. Funds movements
Current year
| Unrestricted funds General fund Designated assets fund Designated legacy fund Designated tithe fund Total unrestricted funds Restricted funds Youthwork fund Families Outreach fund Lunch Club fund Baby and toddler fund Community Money Advice fund Eco fund Fabric fund North Merchiston mission fund Total restricted funds Total funds Prior year Unrestricted funds General fund Designated assets fund Total unrestricted funds Restricted funds Youthwork fund Families Outreach fund Lunch Club fund Baby and toddler fund Community Money Advice fund Eco fund Fabric fund 2020 fund Gift Day fund Total restricted funds Total funds |
Balance at 1 Jan 2024 £ 22,171 800,000 - - 822,171 1,034 15,000 544 84 921 1,561 8,219 - 27,363 849,534 Balance at 1 Jan 2023 £ 25,342 800,000 825,342 2,691 - 1,704 846 1,204 1,531 (7,604) 7,633 - 8,005 833,347 |
Income £ 101,869 - 121,740 13,527 250,663 28,340 800 2,188 1,687 1,204 - 7,000 1,850 43,069 293,732 Income £ 101,869 - 101,869 29,428 10,000 1,817 1,686 2,486 119 7,875 1,422 28,425 83,258 185,127 |
Expenditure £ 104,266 - - - 104,266 32,810 7,048 1,920 510 645 - 7,210 - 50,143 154,409 Expenditure £ 107,540 - 107,540 31,085 - 1,437 726 645 89 (86) 7,704 19,800 61,400 168,940 |
Balance at Transfers 31 Dec 2024 £ £ (956) 18,818 - 800,000 - 121,740 - 13,527 (956) 967,612 3,436 - - 8,752 - 812 (1,000) 261 (1,480) - - 1,561 - 8,009 - 1,850 956 21,245 - 988,857 Balance at Transfers 31 Dec 2023 £ £ 2,500 22,171 - 800,000 2,500 822,171 - 1,034 5,000 15,000 (1,540) 544 (1,722) 84 (2,124) 921 - 1,561 7,862 8,219 (1,351) - (8,625) - (2,500) 27,363 - 849,534 |
|---|---|---|---|---|
Explanation of funds - overleaf
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
10. Funds movements
Explanation of funds
Unrestricted funds:
The General fund represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is designated or restricted.
The Designated assets fund represents the value of fixed assets held by the church which are not available as liquid funds on a day to day basis.
The Designated legacy fund represents a ring-fenced legacy received in the year to be used at the Kirk Session's discretion.
The Designated tithe fund represents 10% of the value of a legacy received in the year which the Kirk Session will distribute to charitable causes in 2025.
Restricted funds:
The Youthwork fund represents donations received to fund youth work in the church, including the salary of the Youth Worker.
The Families Outreach fund holds grants and donations received to fund a Families Outreach worker.
The Lunch Club fund represents donations received and payments made for the provision of the monthly lunch club. The transfer out in the year was a donation made from the Club to the Church.
The Baby and Toddler fund represents the income and expenses managed by our Baby and Toddler group. The transfer out in the year was a donation made from the Group to the Youthwork in the church.
The Community Money Advice fund represents the donations received and costs related to our Debt Advice Centre. The transfer out in the year was a donation made from the Centre to the Youthwork in the church.
The Eco fund represents donations received and payments made by the church Eco group.
The Fabric fund represents donations received and utilised for specific fabric projects.
The North Merchiston mission fund represents a grant received by the congregation for community outreach.
The 2020 fund represents the completion and wind-down of our 2020 building project funds.
The Gift Day fund represents funding raised to pay for a fire detection/smoke alarm for the church. The balance remaining on that fund was transferred to the Families Outreach fund and the Fabric fund, with the permission of the donors.
11. Trustee and related party transactions
During the year, one Trustee (the Minister) received reimbursement of travel and broadband expenses totalling £1,546 (2023: £1,511) and benefitted from the payment of Council Tax on the manse of £3,738 (2023: £3,638). No other Trustees received remuneration or expenses, other than the direct reimbursement of items purchased on behalf of the church (2023: nil).
All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of ministers' stipends and employer's contributions for national insurance, pensions and housing and loan funds. Ministers' stipends are paid in accordance with the national stipend scale which is related to years of service. For the year under review, the minimum stipend was £31,642 and the maximum stipend (in the fifth and subsequent years) was £38,884.
Unrestricted donations by Trustees of the Charity amounted to £25,740 (2023: £40,951).
There were no other transactions with trustees or related parties during the year (2023: nil).
12. Pension commitments
The Charity operates an auto-enrolment pension scheme with NEST for all eligible employees. Employer contributions to the scheme are disclosed in note 6.
13. Volunteers
The Church benefits from the services of many volunteers from within the congregation: in supporting Sunday worship, in teaching at our children and youth based programmes on a Sunday and during the week, in helping with hospitality and administration and in volunteering on other outreach services we provide to our local community. We are indebted to all those who minister on our behalf in this way.
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St Stephen's Comely Bank Church of Scotland, Edinburgh
Notes to the financial statements
For the year ended 31 December 2024
14. Restatement of comparatives
The accounts have been restated this year from the Receipts and Payments basis to the Accruals method. This has resulted in the following adjustments to the comparatives this year:
2022 brought forward reserves
| 2022 reserves, as previously stated Add: Fixed assets - church manse Income due but not received Deduct: Bills due but not paid 2022 reserves, restated 2023 surplus 2023 surplus, as previously stated Add: Income due but not received Bills from 2022 paid Deduct: Bills due but not paid Income due from 2022 received 2023 surplus, restated Restated 2023 reserves carried forward |
29,168 800,000 12,791 (8,612) 833,347 16,130 5,180 8,612 (944) (12,791) 16,187 849,534 |
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