LUCE VALLEY and INCH (CHURCH OF SCOTLAND) OF RECEIPTS AND PAYMEiYfs ACCOUNTS FOR THE YEAR TO 31ST DECEMBER 2024 Congregation No: 070438 Charity No: SC (M)$302 Page I
Reference and Administrativ¢ Inforniation Charity Name: Luce Valley and Inch (Church of S¢otland) Cli&IlY R¢¥i5tration Nurnbff: SC005302 Congr¢gati(m Reference No: 070438 Contact Address: The Gift Aid Recorder Convenor Gillespie Farni Glenluce DG8 OJU Trustees Minister.. Session Cl¥rL. Church Treasu'L Independent Examllltr nti'i'c & l)_.acocK A¢¢ountant& 33 Lewis Street Stranraer DG9 7LB Bankers Royal Battk of ScotlanLt Bridge Street Page 2
Trustees, Annual Report Year ended 31 December 2024 Structure, Governance and Man9gement Governing Document The Church is athninisteted in accothce with the tern of the Deed of Constitution Recruitment and Appointment of Trustees Members of the Kirk Session are the charlty ttvstees. The Kirk Se&sion members are the elders of the church and are chosen from those members of the ChUh who are considered to have the appropriate gifts and skills. The minister, who is a mernber of the Kirk Session. is elected by the ongregation and indurted by Pr¢sb)trry. Organisational Strneture The Kirk Session which meets four times a year is reswible for spiritual affairs within the Objectives and Activities The Church of Scotland is Trlnitarian in doctrine, Refortned in tradttion and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout th¢ world. As a national Church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial ministy. It C(H)peTates with other Churches in various ¢cumenical Erfmlies in Scotland and IKyond. Other Activities include Service of Worship, Reflections On Line. Prayer Meeting, Bible Studies. Guild, Choir, Support for Blythsw(x)d and other Missions, FERN group. Gospel Sound, School Chaplaincy, Hospital and Residential Home visits, Valentine Tea. Yuletide Te4 Carol Services and Summer Fetc for all the community. Page 3
Trustees, Annual Report (cont) Year ended 31 December 2024 Achievements and Performance The following activities have been carried out during the year under review Service of Worship, Refl¢¢tions On Line, Prayer Me¢ting. Bible Studies, Coffee & Chat On Line, Guild, Support for Blythswood and other Missions, FERN group, Gospel Soun(L School Chaplaincy.HospilaI and Residential Home visits,Valentine Te4 Yuletide Teas, Carol Services. and Summer Fete for all the community. Financial Review Gift Aid Donation has increased from previous year by 24.250 Reserves Policy It is our policy to hold reserves equal to 6 months for designated fi&$, at the year end designated funds of £15,491, which we consider appropriate to hold fimds at this level to meet unexpected expenditure The Church also held £9J21. of restricted funds which have been provided for the putposes specified in Note 2. Page 4
Trustees, Annual Report (cont) Year ended 31 December 2024 Statement of Trustees, Responsibilities The memlKrs of the Kirk Session / Congregational Board must pryare fmancial statements which give sufficient detail to enable an appreciation of the transactions of the Church during the fmancial y¢ar. Th¢ Membe of th¢ Kirk Session I Congregational Bcwd are responsible for keeping proper accountin8 records wbiclL on requesL must reflect the fitwicia] p)sition of the Church at that time. This must done to cnsure that the fujancial 5tents comply with the Charities and Trustee Investsnent (Scotland) Act 2005, the Charities Accounts (Scolland) Regulations 2006 and the Regulations Anent Congregational Finance approved by the General Assembly of the Church of Scotland in 2007. They are also responsible for safeguarding the assets of the Church and must tske 150114iblv steps lor the preveiition widlvr detectioll of fra and otlici itTegulatities. Approved by the Trustees and sigoal on th¢ir behalf, C".lerk Page 5
Indepepdent Examiner's Report to the Trustees of Luce Valley and In¢h (Church of Scotla I report on the acwunts of the clwity for the yvdr ended 3 1st tkcernber 2024 which are set out on pages to Respective respoDsibilitie8 of trustees Bd eLqminer The charity's trustees are responsible for the preparation of the accounts in aCCordce with the temis of the Charities and Truste¢ Investment (Scotland) Act ?005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees ¢onsid¢r that the audit rcquirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my rwx)nsibility to examine the acc(Trunts as required under section 44111 (¢) of the Act and to state wh¢ther Darticular matters have come to rnv attention. Bosis of independent examin¢r'3 3tat¢mcnt An examination is carried out in accordan¢¢ with Regulation I l of the Lhariti¢s Accounts (Scotland) Regulations ?006. An examination includes a review of the accounting records kept by the charit) and a comparison of the accounts presented witb those records. li also includes consideration of an). unusual items or dis¢losur¢5 in the accounts, and seeks explanations from th¢ trustees concerning any 5urh matters. The procedures undertaken do not provide all the evidence thal would be r¢quir¢d in an audit, and consequently I do not express an audit opinion on th¢ view given by the accounts. Independent examiner's slaternent In the COUTse of my ex0minatio no matter has comc to tny attention [rtkr ihan disclosed beloi ] which gives me reasonable cause to believe that in any materi21 respect the requirernentg: to k¢¢p accounting records in accordallce Thith StiOn 44 (Ixa) of thc ?005 Art and Regulation 4 of the 2006 Accounts Regulations. and to prepare accounts which 0rd with the aOunting records and wmply with Regulation 9 of the 2006 Ac¢ouLts Regulations have Dot Eeen meL or to wbirh, in Jn). Opinio attention should drawn ill order to enable a woper understanding ofthe accounts to be reached. Craig Mclnlvre & Peacocl Accountants, 33 Lewis Street Stranraer DG9 7LB Pydge 6
Luce Valle and Inch Church of Scotland Recei ts and Pa ments Account Year ended 31 December 2024 'Utsre5trirted , Restrieted ,' Endowment Funds Funds Funds 2024 2824 2024 Tot1 21124 Total 2023 Recei .DonatioTU ,' Itgacies Activities for GenerdtiD8 Funds ,'Bank & Dwsit iuL¢r¢st Investment income V AT Refimd 35113,, 2056 371691 30636 13 956 547 676 1526, 1732 37548: 2250 59 325(K) Renthi of premises Sale of a&sets Sale of illvestments 4584,, 4584 1937 Grdnts Receipts from General TnLStees Other R¢¢¢ip Total Recei 42132 50 59 34437 Pa ments Costs of generating funds ChAritable aetivities GovernxRc¢ costs 104 104 95 50301 42654 360 324 Total Pa ments 48509 2220 36 50765 1 43109 Exr¢53 of R¢r¢ipts ov¢r Paym¢ots for th¢ year before transfers -6377 30 -6324 -8672 ,The Transfer of Union Balanee. Excess of Receipts over Payments for the year 28052 377 30 -6324 19380 Page 7
Luce Valle and Ineh ststement of Balanc At 31 December 2024 Church of Scotland UDrtstri¢te41 Re5trieted Funds Fun 2024 Total 2424 Total 2023 Bgnk & De it B814nee5 Brnu ht Forward 104)87 114748 95368 Movemenl in year: Exee&8 orR¢ipts over Payments for the year -6377 -6324 19380 Bank & detK>sit balances catried foTh4'ard 98?10 916 108424 114748 Inve8tmettts *t m4rkel value (cosi £9044) Fabric Fd (¢ost £497) Mi55 Wales Tr (cost £130) CEnera] Fund (cosi £1759) Old Lllc¢ Clwrch Endowment Total 26279 24014 5806 1659 5305 1516 2201 35945 2011 32846 At$ CJift Aid Re¢eivEble Liabilities Cosi Df rcpair not yet billcd 2¢ 1 2oiS The accounts were approved by the Kirk sl0n aThl Financial Board on l / For and on behalf of th-, YTrl. g--_ Se8sM)n Clerk Treasurer P4e8
Luce Valle and Inch Church of Scotland Notes lo tbe A¢¢ounts l Trustee Remuneration and Related Party TraDS¥dctions During th¢ y¢ar I trustee received Remuneration total £3902 During the Y 2 received reimbursement of expenses iwllred totsl £3014 2. Imovements in Funds AtlJaTr At 31 Dec 2024 Receipts ymeDts ,' Transfers Unrestrieted funds iD¢signated Fabric Fund Desil2ted Fabric Fund INS&I Account) General Fund 7.573 12.648 85259, 5.817 2,716 12.775 47.677 127 416Y2 (35.IKKI) 105.480 41,197 48.509 (35,000) 63,168 Restricted funds ,S&bbatieal Fund Mi&$ Wales 2202,, 2.471 3J37 32 1601 1,954 1234 2,631 3.327 2.164, uce Valley Wornen Lighthouse Café Old Luce Chur¢b Endowm Mission Fund 56 59 36 916 102 9268 2.3091 1 2256 9,321 Investments - Depojit Fund COS Investor5 TFtL 935, 35,1IKI 35,0(Kl 35,935 35.935 935 Total fund5 114.748 44.4411 50.765 108,424 oses of Desi ated Funds Fabric Fund: The Trustees have set &8ide fimds for the maintenance of the Church property General Fund For the day to day running of Church rsabbatical Fund for Ministers conference eXS Miss Wales Fund to give a helping hand to anyone in trouble Old Luce Church Endowment Fund Anonymously donated in 1976 any amount over original Can be iused however the TnteeS deemed to be appropriate
Unrestricted Rtsirttd EDdowment Funds FuDds 2024 Totsl Total 2024 21Y24 2024 2023 3. Anatysis of Donations WFO Sch¢m¢ (non Gift Aid) '.Gift Aid DoDions 24,792 5,089 5232 2.056 37,169 19,952 8.016 1.982 686 30,636 Recovered on Gift Aid DoE]atiorn ,Ordinary Off¢rtngs {Op¢n Plate) Iother Offerings, tkjnattons etc 5.089 5232 2,056 2,0561 35,113 4. Anatysis of Payments Costs of genernting funds Ilnvestment Manager5, fees Offering ¢nv¢lop¢s 1041 104 95 95 Charitable activities IMinistri¢5 & Mission allocation Presbytery dues Voluntsry Additional Sti)d Mlnister's expenses ,Ministerial AsSi$tan¢¢ Pulpit supply .Other staffing costs Fabric repairs & nllintenance Counril Tax 24.152 913 738 1,780 3.579 1,577 2,415 1,577 1 5,115 and light ' Insurance Iother building costs Church's StatTm8 Costs Hall SiatTmg Costs .Organ & music Printin& staiionery and postage Other expenses ,'Equipment- Proj¢ttor etc 1,327 3,014 2,160 524 1160L 2,160 524 475 1.717 2,889 48.081 2220 1,812 978 42,285 2.889 2220 ,.Governanee ¢oJts Independent examiner's fees Iljrchase of assets Purchwe of investments 324 36 360 324 36 360 360 elo
- ,Minister's Stipend IAII Church of Scotland congregations contribute to the National stilld Fund which bears the Costs of all ministers, stipends and employees contributio8 for national insurance, pension and housing and loan fund. Ministers, stipends are paid in acrdanCe with the national stiwid scale. which is related to years of service. For the year under review the minimum stiEKnd was £31,642 and the nlMUM stipend (Kn the 5th and subsequent year £38.884 21n3
- Collections for Third Parties ,'Scripture Union OMF MAF Church of Scotland- Ukraine Jim & Juzia Paterson ,The Scottish Bible Society Tear Fund From Overseas Mission Fund 431.69 122.43 272.80 25.00 730.31 314.60 257.88 686.33 2.526.41 1,806.76 Poppy Scotland From General Fund 78.25 78.25 163.00 163.00 IFull Total 1.885.01 2.689.41
APPENDIX FUNDS HELD ON BEHALF OF THE CONGREGATIOIY BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES 2024 2023 CAPITAL ACCOUIYT Credit Balances held at 31 December at cost 102817 102817 Market Value of Balances at 31 December 142321 136427 REVENUE ACCOUNT Opening Balance 3103 319 Inch Church b/fwd 1.11.2023 90 Dividend Income 1663 2212 Interest Received Dew)sit Fund Growth Fund 108 2413 1380 8667 16 451 3898 Insurance Property Costs Admtn Cost 3323 5062 381 8766 790 795 Closing Balance 3,103 TEMPORARY ACCOUNT Inch Church Hall - Valuation report Closing Balance 1560 1560 Notes farty ofthe above lin do not apply to )YJur congregationfor both of tke)rars being reported then they can be removedfrom ihe nole. The note only requires the endfigure for each year io be $knwpL Detailing ihe movements is not necessary but can be shown $ addiiiopkd d&sclosure ifc01Ieredappr0pTiaée. The note only requiru the year endfigurefor e4Jch year lo be Show Detailing the movements is not necessary but can be shown as additional disclostwe ifcopLfidered Iwpropriale. Page 12
GENERAL FUNO BUDGET BLH)GET 2025 INCOME Offerings W.F.O Scheme (non Gift Aid) Gift Aid Donations Tax on Glft Aid Donation Ordinary Offerings(Open Plat¢) ,' Other Offeritw Donations 6.500 5.014 34,738 Other Ordlnary Gen•fal Income ContributiJn$ from ¢ongregnal Oryan$sans 80 80 Income from.. WdIngS & Funerals Investments & Deposits Use of Premises Fund Raising Tras Totsl Ontlnary Genernl In¢om• 22, 2,137 788 2.367 5.480 42.480 5.372 40,110 EXPENDITURE National Ministy and Mission & Wider Work + Travel Exp 38,153 35,672 National Stipend Fund Allocation Less.'Vacancy Allowance Less Presb)tery Allowance LKs5 Transttion Funding Less:Endowment Income Less: Glebe Rentoncludes Glebe Repair) Mission & Renewal Fd Allocation Presbtery Dues (1.6271 (5.278) (5.341) (290) (5.355) (5.875) LOCAL STAFFING COSTS Voluntary Add Stipend & Employers NaLIns MinisteEs Expenses Ministerial Assistance(Salarie4NI & Exp) Pulpit Supply Other SaLaries.National Insurance & Pension 1,8(M) 1.780. Bulldlng Costs etc.. Heating & LightknL,. Other Local Costs Tele.Posts.Printin&Statsonery2hotocopyin&.- Other Expenses Equipment - Speakers & Computer for Hall,, 52(KJ 5.115 iio: 131K> 104, 7,610,, 10.673 T¢rtal Ordlnary Expgndlknre I 41,517 42,692 Dlffornnc• b•twO Incomg & EXltiN• Please note that we received FtMRC on 963 (2,582) ear end for £1659.53 which is not included in the actual 2024 Trnn•fvrtrt Fbrlc Gera1 Fund 8urplusl(l)elkitl forthg Yw Pvdge 13