Edinburgh: St David's Carrlck Knowe Church of Scotland TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Con8re8•tlon No: 010132 Scottlsh Charlty No: SC 004783 Edlnburgh: St David's Carrfck Knowe Church of Scotland Trustee￿ Report Year ended 31 December 2024 The trustees present the4r annual report and finantial statements of the charity for the year ended 31 Decèmber 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts antl comply with the General Assembly Regulatlons for Congregational Finance, the Charities and Trustee Investment (Scotlandl Art 21X)5, the Charitles Accounts Iscotlandl Regulations 2(KJ6 las amendedl and Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to charitSes preparln8 thelr accounts tn accordance wlth the Financlal Reportlng Standard applltable Sn the UK and Republlc of Ireland effertive from I January 2019. Oblectlvès ond Acbvltle5 The Churth gf Scotland Is Trlnltarian In do(trlne, Refo¢med in tradltlon and Presbyterian In pollty. It exlsts to gbrify God and to work for the advancement of ChrisV5 Kingdom throu8hout the world. natlonal Churth. it acknowledges a dsstinctive call and duty to bring the ordlnances of rell6lon to the people in every parish of Scotland through a territorlal mlnistry. It co-operate5 With other Churches in various ecumenlcal bodies in Scotland and beyond. As a new united con8regation, we recognlse that we have both an opportunity and a need to Set our objectives for the short medium and lon8-term future. Before the Union we held a serles of meetings where representative elders from the two con8re8arSons shared their thoughts and priorities. These included.. •ContinuSn8 to provide regular worship 5ervice5 to meet the needs of our¢ongregatlon and the wlder tommunlty •Finding ways to help Inte8rnte the tVA) formÈr mngregations, retaSnlng the best of bgth their hi5torle5 •ldentifyin8 how best to serve the pastoral neèds of our lafge geo8raphlcal partsh while recognising the Ilmitatlons on the resources that we have avallable •Dealin8 sensitively but pragmaticalty wlth the buildin8s identified in the Preswry Plan for disposal •MaintaSnin8 the buildings which a￿ to be retalned whlle Ident1fylng what changes need to be made to meet future needs •Encoura8ln8 the use of our premise5 by voluntary 8rottps, Charl￿eS antj ¢omrnercial Or8an5sa￿on5 to support the needs of the community and generate income •Employing paid staff to help fuklil our objective5 Wlthin available financial constrdints Edlnburgh: St Davld's Carrl¢k Knowe Church of Scotland Trustee< Report (Contlnued) Year ended 31 December 2024 Ob￿Cl￿T￿ and AtthAtlÈs Ic¢yntlnuÈd} We worked towards these objectves durin8 2024 In a number of practlcal ways, including.. •Setting up a Leadershtp Group and finding volunteers to take on key roles in the new ton8regation •Holding special services and community events to markthe closure of the former 5t Davld's Broomhouse church and halls •Holilsn8lolnt soclal events such as the Stots Night in January 2024 •Suppordng staff at St David's Bfoomhouse whose mle5 were being made redundant •Transferrin8 the Remembrance Garden to the carè of the Broomhouse Hub •Preparin8 the St David's BioomhoL*se church, halls and manse for sale. Ide￿tIfying ltsms to be kept In storage for future use and items to be dlsposed of Engaging with Hall t25ers at St David's 8roomhouse, offerln8 space where possible in premises that are bein8 retalned. for example the Boys, Brigade Company •Recruldn8 a Church Administratorto provide a visible polnt-of-contsct at re8ular ￿rneS in the Church Office and mana8e lamong other thingsl hall letti •Preparln8 a lob descrfptlon for a Children and Farnilles Worker (partly hjnded as part of the P￿SbYt¥ry Plan) and advertising the post AthleveTh*nts and Performance Worship Services are at the core of what we provlde to our members and the wSder communSty. Our regular Sunday morning servlce at 11.00am typlcally has around 70 attènding. It is videoed each week and made available on our YouTybe channel, normally attracting around 40 views from its 96 subKribers. The use of a variety ol music to enhance the WOTshlp Is partlcLtlarly appreciated by mernbers and vlsitors. Tea and coffeè are Served in the Main Hall after Sunday servFces allowing a time of fellowship enjoyed by around 40 people èach week. In addition to Ouf regular worship we have orgènSsed special services, including.. •Daily reflections durfng Holy Week •Re8ular Communion seryices where the sacrament is open to all who wish to take part •A Remembrance Day servKe which was attended by members ofthe 88th Craigalmond Scout group •Special Advent servltes Including a Q)mmunity Carol service featurlng Iftput from the yotrth organi5ations assoclated wkh the thurch. We a150 organlsed an outdoor carol sin8¥n8 event at the bandstand in Saughton Gardens. The Chrlstmas Eve Chrlstln8le and Watchnieht servlces in the church were particularly well-attended •Funeral service5 for church mernbers and those In the wider Community who wlsh to use our sanctuary •Whole-school Assemblies at Chri5tm33 and at the start of the summer holidays for two schools In our parish, Carrick Knowe Prlmary School and Broomhouse Primary School. Edlnburgh.. St Davld's Carrlck Knowe Church of Scotland Trustee￿ Report (Contlnued) Year ended 31 De￿mber 2024 Achlevements and Performance Icontlnuedl Our Ha115 provide welcomlng and well-equlpped spaces for organlsations associated with the church and groups from the community. The 8rounds and 8afdtns are well-maintained by volunteer5 from the congregation and often attract favourable comments. The or8anlsatlons whlch use the halls and are dlrè¢tly assotiated wtth the church include.. ¥GirlgL*iding- two Rainbow units. 8rownle packs and a Gulde Company wlth a combined total of more than 75 Élrfs and young women taking part •A Boys, Brigade Company optn to boys and girls frorn Pl to P6 •A Carer and Toddler group which meets for two hours on Monday rr¢orning5 •Yhe Church of Scotland Guild whose 30 members meet on Tuesday evenin8S •First Thursday- a group of around 70 who meet monthly to enjoy entèrtainment, company and rèfreshments Other hall users Include: *The Corstorphine Dernentia Projert who use QUT Jubitee Hall to provlde dayn of £60,000 118s been made for the IO% levy (which is wlthln expenses) but ne¥ertheless thls intrè35ÈS Out cash reserves to neady £700k. Income antl expendlture is presented as if the two con8re8atlons had been tO8ether throughout the last two years under these mer8er accounts and so comparlson year on year Is valid. The 8eneroslty of church members Sn thelr regular donations has meant that the tncome from standin8 orders, weekly envelopes and tax reclaimed via Gift Aid has held up remarkably well since the Union. We reco8nise the potential to increase income Irom Hall lets, and thi5 is a priority for the Church Administrator who was appointed during the year. Investyneht Polky and Peffomiante The Kirk Session ha5 begun a set of tonsukation5 on how to makè best use of the church sanctuary and ha115 for the long-terrn benefit of the con8reBation and our tommunity. This is likely to involve slgnificant Investment in bulldln8s and heatlng Svstems. Most of our Investments are held in Church of Scotland Investors Trust funds with the objective of having n￿neV available to meet our short-term re8ular commltrnents and runnln8 costs, and beln8 able to spend money on bulldln8 Improvements In the next 18 months to two years. Rlsk Managemenl rhe sale of the former St David's 8roomhou5e manse has resulted In si8nlflcant flnancial securlty for the new con8re8ation. We have also benefited from the sale of the former St David's Broomhouse church and halls complex. This has resulted in around £500,orKJ belng held by the Church of Scotland General Trustees which we can call on if reqyired for e.g. prgperty improvements. We are not aware of any major risks. however we recognise that our main heati￿ system boilers are 40 years old. znd our Jt¢bllee Hall has to be dlsposed of by the end of 2026. Res•rv•$ Pollcy The charSty trustees have consldered the reserves requlred and have taken Into account thèir current and future liabilities. It is the Trustees. poltcy to hold reserves of approxlmately 6 months expenditure Includin8 desl8nated funds. At the year end the church held unrestrltted funds of £803,025 of which £37,862 had been designated for Fabric Fvnd and £4.874 is Gulld funds. The remainin8 balance of £760.289 represents several yéars of likely routine expenditure. As rnentioTred above we expect to make signlfkant investment in our church and halls In the next 18 monthstotwo yèars. The church also held £84,197 of re5trirted funds which have been provided for the purposes speclfied in Note 12. Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Trustee< Report (Continued) Year ended 31 December 2024 Strurture. Go¥emance and Managèment The congregatlon Is a reglstered charfty, number SC004783 and is administered in accordance with the terms of the Deed of Constitutlon (Unitary Forml and is Subjèct to the Act5 and Regulations of the General Assembly of the Church of Scotland. Prior to the Union the charlty used the model constitution. The Con8re8ation of St Davi(fs Carrlck KTh)we Parlsh Churth was formed on 1st March 2024 from the Union of St David's 8roomhouse Parlsh Church at)d Carrlck Knowe Parish Church. The Congregation took on the model Unitary Constitution of the Church of Scotland wlth all elders from the former tongregations becomin8 the KirkSe55ion of the new Con8￿gatIon. Members of the Kirk Sesslon a￿ the charlty trustees. The Klrk Sesslon members are the eldets of the church and are chosen from those members tsf the churth who are considereil to have the appropriate gifts and skllls. The minlster, who15 a member of thè Kirk Séssion, is elected by the con8re8ation and Indurted by Presbytery. Strurture. Go¥emance and Mana8em*nt {tontInu￿) During the current financial year a restr￿(￿rIng took plate wa a basis of Unton between the followin8 ¢on8regation5 (all unincorporated Scottlsh charStlesl: omblnin charftles Cairick Knowe Parish Church of Scotland St. Davsd'5 8roomhou5e Church of Scotland umber SC004783 SC004746 Please note Cairick Knowe Parish Church of Scotland Is the former name of this charity which since the date of Unlon has been known a5'Edinbvr8h.. St David's CarrSck Knowe Church of Scotland.. The basis of Union of these con8reg3t10115 was approved by the Offlce of Scottlsh Charity Regulator IOSCRI and the Church of Scotland (parent tharity - SC0113531 wlth an effectlve Unlon Imergerl date of 1st March 2024. As this Union was a merger of the congregations into one continuin8 congregation the merger method of accounting was deemed approprlate. Thts means the financial statements show the current and comparative figures as if the entlties have been the combinèd throughout those periods. Note 17 to 19 of the fin3￿cial statements provides further detalls of the pre-merger ind post mer8er Statement of Financial Actlvitles ISOFAI components as well as the net assets at the date of merger which make up the comblned fl8ures detailed In these fiAèncial 3tatements. Edlnburgh: St Davld's Carrick Knowe Church of Scotland Trusteeg Report (Continued) Year ended 31 December 2024 Relerence and Admlnlstratlvè Informatlon Trust• Klrk Sessio re tlon ¢eased to be Trustees u on Unoon onstllutk)n removed tlonal Board . Therefore all the member below rea5etl to beTru5tee5 èt l Co rug ees earers were tnem erso ie vi room OU5e urc Jtland before the Union and became Trustees/Office Bearers of EdSnburgh'. St. David's Carrick Knowe Church of Scotlan¢J atthe date of Unlon. e￿LOrI o Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Trustee￿ Report (Contlnuedj Year ended 31 December 2024 Prfnclpal Offlce-bearers Prfndpal Offi The Church Office, 118-132 Suu9hton Rood Nort& EDIN8UR6H. EH12 70R Charity No- SC004783 Independent Examlner Bankefs Royal Bank of Scotland 2395tJohn's Rood, EDINBURGH, EH12 7XB Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Trurtee< Report {Contlnued) Year ended 31 December 2024 Trnslee5' Re$ponslbllltles In Relatlonto the Anab)clal Stat•meiits The charlty trustees are responsible for preparing a trustees, annual rèport and financial statements in accor(lance with applicable law and Llnited Kingdom Accounting Standards Iunited fingdom Generally Accepted Accounting Prarticel. The law applicable to char4t4es in Scotland requires the charity trustees to Prepare finarKial ststements for each year whlch show a true and fair view of the state of affairs of the charity and 91 the iThcorne ané expenditure of the charity for that period. In preparing the financlal statements. the trustee5 a required to.. selett suitable accountlng policies and then ap￿Ytherll con515tentlv,' - observe the method and prlnciples In the appllcable Charities SORP,. - make judgernents and e5tirnatesthat are reasonable and prudent.. state whether applicable accour*tin8 Standards and statemènts ol T￿ornMended prartlce have been followed. subject to any departvres disclosed and ex￿aIned in the flnanclal statsments. prepare the financial statements on the 80iN8 concern basis unles5 It is Inappropriate to presume that the charity will Continue in operat*onal existence. The trustee5 are responsible lor kéepln8 ade4Uate accountlru records that are sufficient to shgw and explain the charSVs transatttons and di5clo5e w4th reasonable accuracy at any tlme the financial position of the charity and to eTrable them to ensure that the financlal statemerrs comply wlth the cha￿tIeS an(J Trustee Investment Iscotlandl Act 2[115 and the Charities Accounts15cotlandl Regulations 2C￿ las amended). They are olso responsible tor safeguarding the a55ets of the charity and hence for taking reasonable steps fvr the prevention and detectlon of fraué and othÈr irregvlarities. 7he trustees a￿ responsible for the maintenance and integrity of the chority and financial infom)ation on the con8re8ation's website. Legislation in the United KSn8dom governing the prepararion and di55emlnatlon of financial statements may differ from leg151atlon In otherlurlsdlctlons. rovÈc5 b the Tru5tee5 and 51 ned on their behalf Date.£/ ... Edinburgh: St David's Carri¢k Knowe Church of Scotland Independent Examiner's Report to the Trustees Year ended 31 December 2024 l ￿port on the actounts of the tharty for the ye¥r ended 31 December 2024 which are Set our on pèw 11 to 26. Respectlve responslbllltle5 of trustee5 and examlner The charit¢s trustees are responsible for the preparation of the &counts in xcordar￿e with the term5 of the Charit1È5 and Trustee Investment Iscotlandl Act 2005 and the Charitiès Actounts Iscotlandl Regulations 2006 las amènded). The cha￿ty trustees consider that the audit requirement of Regulation 10(11 lal to Icl of the Accounts Regulatlons does not apply. It is my responsitility to examlne ihe attounts a5 required ijnder section 4411) Icl ofthe Att and to state whether particular Matters have come to my attention. B•s55 (rf Independent exarnlnerf5 Statement My examlnatioft is tarried oyi in accordance wlth Regulation 11 of the Charltles Accounts 15codandl egulatjons 2(t6 las amended). An èxarninatlon Includes a rewew of thè accguThtitw records kept by the charfty and a tomparlson of the attounts presented with those records. It a150 includes cortsideration of any unusual items or disclosures in the accounts, and seek5 explanations from the try5tees concernin8 any suih matters. The procedLtres undertaken do not provlde all the evldence that would be required in an audSL and COr￿equentIY I do not express an audlt opinion on theview given by the accounts. Independent examlnerfs statement In the cour3e of my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respert the requirements.. - to keep accounting records in accordance wth Section 44111 lal of the 2(W)5 Act and Regulation 4 of the 2006 Accounts Regulations las amerndedl, and to prepare accounts which accord wlth the accountir¥d records and compty wlth Regulation 8 of the 2006 Accounts Regulations las amended) have not been met. or to which. In my opinion, attentlon should be drawn in order to enable a proper understanding of the account5 to be reached. Professional QualificatiOF)/profp$5ional Bod CA ICAS Qlate.. ILf io Edinburgh: St Davld's Carrlck Knowe Church of Scotland Statement of Flnancial Artlvitles (Incorporating an income and expendlture account) Year ended 31 December 2024 Unrestrlcted Restrlcted C￿bIned Funds FUF￿$ Tiital 2024 Unrestrkted Re#rkted Comblned Funds Ful￿9 Total 2023 2023 2023 Nott 2024 Incomè and endowments from: Donatlons and kgacles 67,172 1,269 68,441 83,8Xt 1,859 char￿able actlvSties 600 1,453 1.453 OthertradSn8 èttlvltles InvestmEnt5 30,483 30,483 31,517 31,517 10.696 2,158 12,854 8.660 1,958 10,618 other 23.055 23,055 9.843 1.699 11.542 Totsl Intome 132,006 3,427 135,433 135,323 5,516 140,839 Exwdlture on: Rai51ng funds Chadtable actmtles 163 163 121 121 220,588 4.310 224.898 153,260 7,782 16L042 Other rotsl expendttur• 220.751 4.310 225,061 153,381 7.782 161.163 Net I￿Orne/(l￿p•1dItuT•l bEfore 8atTh% and105seson Inbvtments 188,7451 18831 189,6281 118,0581 12.2661 120,3241 Net galn5lllossesl on Irwestments 5,712 4,815 11,52? 3,764 12.948 Net SrKomelleMpenrtltyrel 182,0331 3.932 178.1011 18,8741 1.498 17.3761 Transfers betr￿Tr Funds 16 12,00)1 Net movement knfur 182,0331 3,932 178,1011 16,8741 15021 17,3761 Re¢thiclllat5on of funts. 16 Totalf￿ndS brought forward 885,058 80,265 965,323 891.932 80,767 972,699 803￿2$ 84,197 887,222 885,058 965,323 The above are combfjned fillU￿$, for both the current and comparatfve pedod, whlch show the a88Teg3ted ¥esuks of the unfted ¢ongTe8ations Ifurther dets115 01 the basss of Union durln8 the year can be found In the Twstees Reportl. li Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Balance Sheet As at 31 December 2024 Ful￿$ Funds fvn A￿d$ 2023 Total 2024 2023 Taniible a55ets Investrnents Total fixedA55•ts 610.(KKI 610.000 254 31 254B31 198,980 55,851 802.268 SL036 853.304 Debtor5 Cash èt bank and In hand Totsl CurrentAsws u•￿111￿5 Credltorsfalhft8due vAthln oneyear li 385 385 694 946 695.331 382 666.985 28,346 86,593 29,229 115.822 12 162,9401 162.9401 I3,￿3) 13.8031 28 632 391 112 019 Creditorsfalli*gdue after more than One￿•T 803 025 The fvnds ofthe th¥Jnl: Endowment futK15 Restricted Incorne funds ilnre5tri£ted Inc¢Mne lunds Totsl (hèrliylunds 84,197 84,197 80,265 80.265 16 965 323 The akne •re combinetFfi8ures, lor both the current arml [L￿Par•the 9￿0d. whith slxmthe awegated ￿sU￿5 ofthe unried con8*e8atlon5. Ihe notestyi pages 13 to 26 form parr olthese flnancol $tsternent5. The atcounts approved bv th¢ Tntsttts .......................... .......... 2025 a￿d si8ttd on th¢ir b¢haifby. 12 Edlnbur8h: St Davld's Carrlck Knowe Church of Scotland Accounting Pollcles Year ended 31 December 2024 The prlnclpal accotsntlng policie5, whlch have been applied conslstentty In the turrent and precedln8 year In deallng wlth Items whlch are considered material to the accounts. are set out bekjw. 84s1$ of preparatlon The financlal statements have been prepared in accordance wlth Accounting and Aeporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance w￿h the Financlal Reportlng Standards applicable in the UK and Republlc of Ireland {FRS1021 effective from l January 2019 and the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. the Charities and Trustee Investment Iscotlandl Act 2￿5 and the Charlties accounts Iscotlandl Regulations 2006 las amended). The charlty constitutes a public benefit entlty as defbned by FRS 102. Assets and liabilities are initially recogni5ed at hlstorlc cost or transaction vale unle5$ oiherwlse ststed In the relevant actountlng pollty notelsl. Merger accounting has been applied to Carrick Knowe Parlsh Church of Scotland and St. Davkl's Broomhouse Church of Scotland whlch were United into Edinburgh.. St David's Carfick Knowe Church of Scotland Iformerty called Carrick Knowe Parish Church of Scotlandl. The basls of Unlon of these congregation5 was approved by the Office of Scottish Charlty Regulator IOSCRI and the Church of S¢otland (parent charity - SC0113531 with an effective Union date of i March 2024. The merger method of accountlng has been applied to these financial statements as rf the entities had always been comblned. The accounting policies of both Carrick Knowe Parlsh Church of Scotland and St. Davtd's 8roomhou5e Church of Scotland were previously aligned and consequently there has been no need to modify any existln8 accountlng pollcles in consolidating the United congregatlon, other than re5tatinB from receipts and payments basis as approprlate Goln8 concern The Trustees conslder that there are no materlal uncertalntles about the ablllty of the charFty to continue for the foreseeable future, and therefore has adopted the goln8 concern basls in preparlng these Ilnanclal ststements. 13 Edlnburgh: St David's Carrf¢k Knowe Church of Scotland Accounting Pollcles Icontlnued) Year ended 31 December 2024 Fund accountlng Funds a￿ classlfled as elther restricted fund5 or unrestricted fvnds, defined as follows. Restrlrted funds are funds subject to speclftc requlrements as to their use which may be declared by the donor or with their authority or created through legal processes, but still wtthin the wider objects of the charlty- Unrestrlcted funds are expendable at the discretlon of the trustees in furtherance of the object5 of the charlty. If parts of the unrestricted fund5 are earmarked at the discretion of the trustees for a particular purpose, they are des18nated as a separate fund. Thls deslgnation has an admlnlstratlve purpose only and does not legalty restrirt the trustees, discretion to apply the fund. Recognltlon of Income Income is reco8nised when the charity has entitlement to the funds, any performan condltlons attached to the itemlsl of income have been met, it is probable that the income wlll be recelved and the amount can be measured reliably. Donated servl¢e$ and lacllltles Donated professional Services and donated facllitles are Tecognised as income when the charity has control over the rtem, any conditlons assoclateil with the donated item have beeft met, the receipt of economlc benefrt from the use by the charlty of the ttem 15 probable and that economlc benefit can be measured reliably. In accordance wlth the Charities SORP IFRS1021 the general volunteer time of rongreg*lon members Is not recognised. On receSpt, donated professional services and donated facllltie5 are recognlsed on the basis of the value of the 81ft to the charity which is the am¢)unt the charrty would have been wllllng to pay to obtain services or facilr(ies of equivalent economic benefrt on the open market,. a corre5pondlng amount is then recogni5ed as expendlture in the period of recelpt. Interest recelvable Interest on funds held on deposit Is included when recelvable and the amo(trnt can be measured relIab￿ by the charity,. this Is normalty upon notFfication of the Interest paid or payable by the Bank. 14 Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Accountlng Pollcles Icontlnued) Year ended 31 December 2024 Recognltlon and allocatlon of expendltufe Expenditure is included in the Statement of Financial Activities on an accrLtals basis and is recognised when there Is a legal or constructlve obligatlon to pay for expenditure. Flxed Assets The charity has the flght to occupy and use for its Charitable objects certain tangible fixed assets, including the Church, halls and manse, vested In the Church of Scotland General Trnstees. No conslderatlon Is payable for the use of these assets. Expenditure incurreil on the repair and malntenance of these assets is charged as expenditure in the Statement of Financial Activities in the period in which the liabllr(y arlses. One Manse Property wa5 vested In the name of the Charlty but was sold in the year. All tanglble fixed assets tostlng In excess of £lO,O(Ki having a value to the charity greater than one year. other than those acqulred for specific purposes, are capitalbed. Depreciation is provided on a straight-line basis to write off the cost or Initlal value, less resiilual value, of tangible fixed assets over their estimated useful lives. Investments Flxed asset Investments are stated at market value at the balance Sheet date. Unreallsed 8alns and losses represent the diffe￿nce between the market value at the be8inninB and end of the financial year or, rf purchased in the year, the dIffe￿nCe between cost and market value at the end of the year. Realised galns and losses represent the difference between the pr¢xeed5 on dlsposal and the market value at the start of the year or cost if purchased In the year. 15 Edlnburgh: St Davld's Carrfck Knowe Church of Scotland Accountlng Pollcles lcontlnued) Year ended 31 December 2024 Taxatlon Edinburgh: St David's Carrick Knowe Church of Scotland Is recognlsed as a charity for the purposes of appllcable taxation legislation and 55 thefefore not subject to taxation on its charf(able activities. The charlty ts not reglstered for VAT and expenditure therefore include Irrecoverable Input VAT. Cash and cash equlvalents Cash and cash equlvalents include cash in hand and deposits held at The Royal Bank of Scotland and with the Investors Trusl. Debtoys Trade and other debtors are recognlsed at the settlement amount due after any discount offered. Prepayments are valued at the amount prepald net of any discount5 due. Credltors Creditor5 are normal￿ recoBnised at their settlement amount after allowing for ary trade dI$￿unt5 due. 16 Edlnburgh: St Davld's Carrlck Knowe Churth of scotland Notes to the financlal statements Year ended 31 December 2024 Umrtr rtrlrted Rfr5M¢ted Comblned Funds Fuhds Totsl 20 UrK str￿ed R*stfkled Comblned Funds Totsl 2023 20 Don•tlon$•nd iwrles Omerings T•x reEovered on GiftAid LÈ8a¢*s Ooftation￿Gr￿nts Value of donated 8ood$ Other 55,096 8,576 5CIJ 55.(B6 8,576 63,363 14.171 59 65,222 14,171 1.269 L309 4,1 4,180 2. Incomefrom charftabtt a¢tW•s WeddlTr85 and Funerals Organlsatiofts CorKerts & ￿nts 650 650 2fX) 2LAJ > fo¢uo*fmm othertradlrrf8CtMtles Rent Received from Propery. Hall Lets Manse Let 30,483 30A83 31.517 31,517 517 4. Investment Inttyxe vldends rece￿& bank interest Oep051t Inierest 8,289 2,407 1,182 9.471 3,376 7,315 I￿50 8,365 1253 12 5. Othqr IrK(vne Recelpts from General Trusiees 17.816 17.816 2,242 2,242 OtherlGu*ld in 20241 17 Edlnburgh: St Davld's Carrkk Knowe Church of Scotland Notes to the flnanclal statements {contlnued) Year ended 31 December 2024 Un strkted R&strleted Comblhed Fund5 Fund5 Totsl 20Z4 Upr Strlcted Re-Strkted Comblh¢d Fynd5 Fund5 Total 2023 2013 2023 6. Anaty51$ of E¥perthr¢ Investment Managerfs Fees Offerlry Envelopes 163 163 163 163 121 121 121 121 Glvln8 to Grow Contrlbutlon Presbytery Ques VOluntsryAdditionalS￿penrt MinlstÈis Expenses Minister￿?1 A55iStonce Pulpit Sttpplv/io¢um Costs Other s818ry Costs Fabrlc Repalrs& Malntenance Council Tax Heatand U8hi Insurance Con8regatlonal Expenses prIn￿n& Ststlonery and Orn¢e Other Buitdlng costs Otherexpenses Independent ExaminaloTr Levydue on property sale IGalnllL05s on sale of Nmed asset 52W7 I￿23 51847 L023 44761 941 d8,761 941 1582 1.582 3,015 3.OJ5 1.942 l?,fi17 35,932 2,776 16.636 2.494 3,2EO 1075 6.572 4,252 1,942 17.607 36.176 1776 16,636 2,494 6,303 2,075 6572 5.295 2.940 1,668 16,622 32,293 7,293 14,559 5,871 5,027 2.892 8,379 13,091 13,096 32,293 7,293 14,559 5.871 3.718 1677 8,379 10,359 3526 244 3A123 21S 1,043 2.732 4630 8.630 41310 224 898 16 042 Totsl 153 381 161 163 5￿pOrt(Osts have rK*t been separately identified a5 the trustees conslder there Isonly onecharitabie actlvlty. Thèrefore support Eost5 relate wholtyto thatactniity•nd have not tieen separately Identified. 18 Edlnbur8h: St Davld's Carrl¢k Knowe Church of Scotland Notes to the flnanclal statements Icontlnued) Year ended 31 December 20Z4 2024 23 7. Srt•ff ¢0sts Sul&TLCS findwage8 12.053 12,053 The aYerz8e nutthrof employees dwingthe as follows,. 2024 202J Nmmbtr NNwb¢T Mitiisteliat supwwt A￿[n￿LStratIOn Premises main￿n&t Prior 10 the Union of the twoeoswegknots on MaT¢h Isl 2024, St Davtd's Broc*thousc c￿￿[￿Yed aPert￿rn¢ a¢aner and a part4iTre PsslorHJ Agsist8N. Tht Cleatw continued to l* emp14)yed until July wthen fbe Broomhouse buildllJ8S w￿¢ ¢losed for rel￿ar ttse. Cwrick Knowe had no direct fflnployees before the Urtion. The new Con￿80(1￿ has ruii¢d ap4rl-iim¢ Church Admitii5tr&oT whD siartrd work inApril 2024. ) tmployeehlld ¢I￿loYer b¢n¢fils in ex¢4sgof £50,(M)012023 nil) All Chur¢h of Scotlojd conyegatiotts totttrbutc to th¢ Natiomi Slip¢nd Fund which ktrs the costs of ajl m¢nisiers' siipettds ¢mpltry¢V$ ¢ffttribution5 for t￿ttO￿al iosurancq peosiffioud hoUSu￿ wyj loan filod. MittL8tetS' stip¢nd8 are paid in a¢cord*nct with th¢ 5tipelld 3r￿¢, which is related ￿ years ofseTrice. For ih¢ y¢Hr undu review the miriiEllI]In 51iwd ￿£31,642 andtbe m￿llnum stipend thB fjfth ond Subs¢q￿nI yea￿) £J8.884. Trwttt ktrnMneT•llo• and RtlAted P*rty Tr•ll$*ctHM ts a rnettthLr of th¢ Kirk Ses5iOt¥ re¢tiTrth £558 for proviibng h15 xrvi¢es a% or8llni5t ut St Da￿d.$ Broonthow ptior to the Union. £810 irt ftdwJd8BLy P8ymeni £875 for playing the organ dtiring the )tar. No trUSEe¢ or person ttjakd to a ttu£t¢e had an} P¢Tsonai mfrrest contrlld or trarfja¢iiott ¢ntrr¢d into by tkn con￿￿¥tion duryn8 th¢ ye￿. 19 Edlnburgh: St David's Carrlck Knowe Church of Scotland Notes to the financial ststements (contlnued) Year ended 31 December 2024 g. T￿81￿* FSKed Assets 2024 2014 2023 2023 8ulldlTr85 Other Tot•1 Idlr Other Totsl At l January Additlon5 Disposals At 31 December 610.c￿0 610.otsj 610,CI)O 610.LIJO 1610.1)WI I610,OL￿) 610.OOQ 610,IXIO A¢¢umul4ted DepredatlD At ljanuary Char8e for year Ellminated on Disposals At 31 December Net 8o¢Jk Vilue At 31 December 610mQ 610.0(KI 10. ID¥•siments 2023 Market Val￿ at l January Additions at£ost Dlsposals Unwlised galn I Ilossl on investments Marketvalueat 31 December 243.304 230,356 11,527 2Y,831 12.948 243,304 In￿sIMe￿5 at cost 226,016 226.016 The Investments are carrled at the*rf4lrvalut. The foll￿￿n81nvestrneftts8re hdd.. thurch Of kotland Investors Trust Growth Unlts Church of kotl4AO Investor5 Trust lficorne Unlts No. 18,734 12.234 18.734 12.234 20 Edlnburgh: St Davld's Carrlck Knowe Chutth of Scotland Note5 to the financial statements (continued) Year ended 31 December 2024 li. Detsttys GIft￿Jd Tax Refund Dtje Prepayments Other Idetall where materlall 385 382 385 382 12. Qedlwr$ crL4als Accryed Levyof property sale 2.940 60.OC¥I 62,940 3,803 3.803 13. Cdlettlon$•nd fufidrnlth8 forThlrd Partle5 I024 Z021 Chrtstlan Ald 8roDmhouse Foodbank 8ethany ca￿ Van 2023 Cornblned Unlon Totsl 1.147 235 k,079 3*22 3,822 2.461 14. Vdtsrte•rs In common with all COnEreEation5 of the Church of Scotland the tonyegation benefits from the contrlbution made by volunteers whts s￿e their time and tslents willingly for the benefit of the Church. The areas of tonEre8atlonal Ilfe whlch rely on the contdbution of volunteers are many and varled aE)d much of the activity would be umble to contlThue we¥e it notforthewmmltmentshown. 15. Analysls ofNet AssetsAmty8 Funds Cufrentflnand•lyev Fixed Assets IrNe5tments Current Assets Current knabilitie5 Net 055ets •t 31 Dec ZOZ4 Gener•1 Des1￿￿ed Ilestrt¢ied Total 198.980 87,923 55.851 28.346 254.831 69S,331 162,9401 887,222 579,062 162,9401 516,122 286,903 84,197 Gener4 0*4￿d Rostflcted Comparatlveflnan¢l•ly¢•r FlxedAssets 610,1 610.ofAI 243,3Lkl 115,822 13,8031 965,323 Investrnent5 Curfent A5set5 c￿r￿nt Liabllitles Nrt a$5ets 4t JI Dec2023 192,268 73,827 51.036 29,229 Il766 13,8031 618,963 266,095 80.265 21 Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Notes to the financial statements {contlnued) Year ended 31 December 2024 16. mO¥emek￿ ltt Investmertl hK•me Exponkn Yrnfisfers 8a1nlllo￿> At JI l)e¢. Allj￿, 2024- currentyear Re5trlcted fvnds Flower Fund cO￿r and Toddler 1st Thursday Klrk 5esslon 8eAevolent Fund Youth worker Fund Speclal Purpose Fund Mlnlsterfèl Assistance 8aptlsmal Fufid Organ Fund olidayclub Fund L•uftthpad Fund Wednesday Prolett Prospects The aark Bequest 8roomhouse Centre Prolerts Memoflal Garden 353 890 19901 253 L323 1,465 72 10,589 2.051 3.332 1299 1,096 1.610 72 lQ.027 1.949 3?32 1,233 1,241 1,016 252 126 181 55.527 400 L750 80.265 12441 562 102 32 11.2731 1,070 278 126 181 26 L316 4￿15 61.758 11.7501 14.3101 1427 4.815 84,197 U#r•strid•d fvr C of S Oeposit Fund Oeslgnated Fund Oeslinated Gulld FurKI Deslgnated Bequest Fund De5i8nated Reserve Fund Desl¥nated Junior Fund Gefieral Fufid 15.0001 37,711 3,599 227.258 2.298 229 618,963 885,058 965,323 5.0 Isi 5,029 37,862 4,874 241,640 2,298 229 516.112 803.025 887,122 12,8041 11,0181 19501 6.712 118,138 132,fM)6 135,4J3 1216,9291 1220,7511 215,0611 14,0501 6,712 11,S27 Total fund5 Re5trlcted lunds Flower Fund.. Thls fvnd Is used to pay forflower5 whSchare arranged and di$￿￿Yed ITh church durlng worshlp Se￿ces. Afterwards they3￿81¥en In bunches to members and others who app￿latethern asa of our Care and sup￿rt. Carer and Toddler.. This Is a groupwho n*eton Monday momlngs In the chuvth hall. A nomlnal £1 ts pald foreach chlld and the fund Is used to provide sno¢ks and craft materlals First Thur5doy'. Thi5 group rneets monthlyto enjoy mu$ical and othef entertalnmentfollowed bytea. coffee, cake and fellDwshSp. Thosewho attend currently pay £2. and the fund Is used to payf¢Y entertalnmeni and coverthe COStof caterfn8 22 Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Notes to the financial statements (contlnued) Year ended 31 December 2024 Re5trlcted funds I<￿tIn￿￿) Kirk Session Benevolent Fund.. Tradluonallythlswas Ltsed Carrlck Knowe church to provlde small arnourrtsof fifi8ntial S*JPkX)rt int8ses where 5ensitlvityond dlscretlon wa5 requlred. It has not been usedfw several years, and the amount of moneyremainin8 is smll Youth Worker Fund.. This fund was set up In St Da￿d.$ Broty￿hOUset0 hdp tOW7fd5 p￿In&for a youth worker's laryand expEnse5. and for speitic srnallyouth work proietts Speclal Purpose Fund.. thlswas a fund used by St David's Broomhou5e forslmllar PLErpD*st¥the ￿rk Se$5ion Benevolent Fund rnentloned above. Ministerlal A551stallce.' Thiswa53 St Davld'5 Broomhotjse fund vserj to paylor assi5tanceto the rnlnster. Baptlsmal Fund.. Thiswa$ a St Dawd's Broomhouse fund used to purchase bibles or lifts forthose being baptlsed Organ Fund.. Thisw85 a St Davld's Broomhouse fund set up to payfor anyrepèirs requlred to the Churih or¥an. When the church was closed durlng 2024 the organ was relocated andthe remaining money In the fvnd IE12731 w•$ donated tothe new owner50f the organ Hollday Club Fund.. This wosa St Da￿,5 Broomhou5ehJnd alrned at Support1￿ a swmmerholiiby clLisfor local children Launthpad Fund.. Th15 was a St Da￿d.$ Broomhouse fund used to prO￿lIe prfzes, thtsaTrd uaft matsrlal fora children's group Wednesday Project.. This %¥as8 St Davlrfs Broomhouse fund foran othreach project vl)wecommunlty member5 ¢Duld drop in for coffee and/ or soup on Wednesday lunchtime5 Prospects.. Th4$ W•5for a ¥roup based In St Oavld's BroomhDuse which used to pro¥lde mlnlstryforadults ￿th learnlng dlfflculties. h has not been activefor Several years. The Clark BeqL*est.. Thefund was set up tsom a le8aLy received from the late Colonel Clarkwhlch has been pa55ed Irom the Trusteesappointed by St Davld's Morrlson street Congregation ofchurch of Scotland to those apwinted by St Da￿d.$ aroomhouse Church Con8re8ation olthe Chufch of Scottsnd. Thefvnd 15 administered bythe Mlnister, Sess4on Clerk and Tre¥W￿r. im a¢cordance with the ￿11 ofthe late Colonel Oark. The will states that the Income from Investments'shall be applledto the purposes and forthe benefit of the Congregation of St Oovid'5 Church" The admlnistTOtors havethe right to spend elthercaplt81 or Income. 5orne of thefund has been invested. Broomhouse Centre Prolerts.. Grants were received by St Dawd's groomhtsw in 2018fromthe Broomhouse Centreto ¢over50me events whlch took place Sn St Davld's premise5 e.8. the Communfty CholrlFood TraininK. Memori81 Gardeft.. This was a cornmunSty-based Initlative hosted by St David's 8roomh)usefollowin8the cO￿d pondernlc. Thelund was used for malntenance of the garden. The remalnln8 bolar*e of £1750 was donated In Decernber 2024 tothe charfty spa￿ 8roomhoL*e HLtb so thattheycould toke on the maintenance role. Unrestrirted & ￿e￿￿n￿ted funds Designated Fabrlc Fund.. These a￿ funds set aside for maintenance of thurch property induding the Jubllee Hall and Manse Deslgnated Gulld Fund.. Thls fund hLild5 money raised by the Gulld from subscripti0Th5 and fvndral￿n8 events to be used for 5peclal projects to make¢ontrfbution510 the chufch's General Fund Del8nated Bequest Fund: Thls fund malnly ¢onslsts of ￿4CleS ienerousjy left In wllls to the two former congregatSons. The Trustee$ aimtu use th15 money In waysthat respettthe Llonor5' value5 and prlorities. DEsi8nated Reserve Fund.. Moneyin thlsfund Is almed at provldln8 ltsms that will Improve worship or enhan￿ the clxJYch san¢tuJry Desl8natedJunior Chur¢h Fund.. Thi5fund Is Intendedto be used in supportofthe Sunday aub Transfers.. The Gulld made a transfer 01 £950 to church funds. The deposrt fvnd brought Iofward was moved Into unrestriLted general funds. 23 Edlnburgh: St Davld's Carrfck Knowe Church of Scotland Notes to the financial statements Icontlnued) Year ended 31 December 2024 16. Mo¥emen¢$in Funds I(￿tInU*d) Investment Expendwre Transf•rs ￿n/(lOssI At 311)e¢. At ljan. InciYn¢ 2023. comparattve Aestrlcted funds Flower Fund Carer and Toddler istThur5day Klrk Sesslon Benevolent Fund Youth worker Fund Spe£lal Purpose Fvnd Mlnlsterlal As*stance 8aptismal Fund Or8an Fund Holiday Club Fund Laun¢hpad Fund Wednesday Prolert Prospe¢rs The Clark Bequest 8rr*)mhouse cent￿ Projects Mernorial Garden 457 729 18331 17431 16921 353 395 1,161 1,141 72 12,810 1317 2.572 1.187 1,198 980 1,195 345 1.610 72 833 311 760 46 43 36 47 13,6161 16791 10.027 1949 3.332 1.13a 1.241 1,016 252 126 181 19901 12191 52,708 400 1,760 80.767 1,155 I2.￿0) 3.764 55.627 400 1.750 80,265 5.516 17,7821 Iiowi 3,764 ithrestrlrtqd funds Cof S Dep051t Fund Deslgnaied Fabric Fund Delgnated Gyild Fund Desl8nated Bequest FunEt D￿l￿nated Reserve Fund De￿Inated Junlor Fund General Fund 15,C¥JOI 17971 (7,3731 15,5721 19531 13461 120,0001 (s.0￿} 37.711 3,599 227.258 2,298 229 618.963 45,500 1781 231,105 2.298 381 7.343 7.315 9.184 14 120.270 1331 1146,6331 610.IJOQ 35.326 891.932 972,699 135,323 1153.3811 140.839 1161.1631 2,0( 9,184 12.918 885.058 965323 Total fvnds 20 24 Edlnburgh: St Davld's Carrfck Knowe Church of Scotland Notes to the flnanclal statements (contlnued) Year ended 31 December 2024 17. AlergeT accfATrntlng- analws ol pAf*dpal SOFA¢fy￿pQTh￿$ lorth•£urr•nt r•wUng perlod th¥ltyA• Ch•rlty8• thirlty (pr (post. meryerl Comb1F￿d Tol&l mer8erl Total lftcome Total expendfftu Net IncomÈ/lexpet)diturel Net 8alns/llossesl on Inv&stments N•t mOve￿￿nt In lund5 3,971 17,378 114,084 135.433 16.2111 111,0871 1207,7631 1225.0611 12.2401 6,291 193,6791 189,6281 11,527 11,527 182.1521 178,1011 12,2401 6,291 • (￿rItyA and B relersto lollowing charities whlch cornblTrtd duriwthis fina￿la1 year.. Charity A Carrick Xnowe PaTlsh Church of Scotland Charity 6 St. David's Broornhou5e Church of Scotland Meryer •¢(￿nIon1. analy515 Otprlndyl SOFAcoMponeb￿IQfth¢ prtylws reptyiingprlod C￿rttyA* th•rity B* Iprtr mtitrrl mery•rl 2023 Comblned Total Totsl incorne Total expendlture Net incomellexpenditurel Net8ains/l105se5l on investments Net fflovemert In funds 40,0tr) I￿.839 140.839 143,7111 1117.4521 1161.1631 13,7111 116.6131 120,3241 12,948 12,948 13.6651 17,3761 13.7111 19. Meryw•¢countln6- ol ntt •S5•ts ttthe date ol meryerand at)yadJustments CharltyA• th•5tyO* l•t UrtloR lat Unlon Comblned datel Total Netassets 905,385 63.989 969.374 Repfe5ented by.. nre5tricted funds Restritted funds Endowmentfunds 828,253 77.132 60,902 3,087 889.155 80.219 905,385 63,989 969,374 25 Edlnburgh: St Davld's Carrlck Knowe Church of Scotland Notes to the financlal statements {contlnued) Year ended 31 December 2024 19. Mer8ef accountlng- aftalysls ofnèt •ssets •t thed•te of and ￿¥•djuStments Icontlnuedl Deta115 of sl8nlfttantalustments r•qulred to •118ty 4¢¢1Wrttkn8 polld•5 The accou*)tlng wlicles ol Clrrick Kn£>we Parish Church cf Scotland and St. Davld's 8roomhouse Church of Scotland were pre￿O￿S4¥ )Ilgned and consequently there ha5 been no need to modlfy any e￿st¥nE accounting policles in consolldatln8 the United c¢)n8retation, other than restaong from recelpts and payments basls of atetyJntiTh¥to accruals asapproprfate. Both Carri¢k Knowe P¥rish thurch of Scotland and St. David's 6rcomhouse Church of 5¢otlafid used recelpts and payments basls for preparin8 their financial statements previously so these were restated for the previou5 accountlng perlod and for the current yeaw up to the date of mer8er. The maln adjustment requi￿￿ w45 In relation to Incluslon of Flxed Assets. investments aThd aid debtor for St. Davld's 8roomhouse thurch tsf Scotland whi£h arnoun*ed to an £853.238 adjustment in the comparatSYe year and a lurther £44 adjustment In the turrent financial year up to the merger Iunionl date for St Davld'& Carrlck Knowe had a smaller adjustment relati￿ oftly to gfft aid debtofs nd o¢uued Ilabllltles. 26 APPENDIX FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES 2024 2023 Credit Balances held at 31 Decen￿ at cost 52329J6 MBrketVaiue of BalÈllces at 31 tk¢¢mb¢r 52743&1 Cr¢dit B&lanc¢ at 31 D¢￿Mber 4163.65 Y ACCO Credit Bai8nce ai 3 I Ik£emlw 5mlS 27