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Inverness Inshes East Church of Scotland
Year ended 31 December 2024
ACCRUED (SORP COMPLIANT) ACCOUNTS
Congregation No: 372163
Charity No: SC005553
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Inverness Inshes East Church of Scotland Trustees’ Annual Report
Year ended 31 December 2024
The trustees present the annual report and accounts for Inverness Inshes East Church of Scotland for the year ended 31 December 2024.
Reference and Administrative Information
Charity Name: Inshes Church of Scotland, Inverness
Charity Registration Number: SC005553
Congregation Reference No: 372163
Contact Address: 1 Hill Park Inverness IV2 4AL
Trustees
Members of the Kirk Session: David Scott, Jonathan Appleby, John Bruce, Alan Buist, George Campbell,Harry Chambers,Bill Flett, Farquhar Forbes, Iain Macdonald,Norman MacKay, Gavin MacKenzie, Angus Macleod, Donnie Maclean, Norman Macleod, Donald MacVicar, Bob Matheson, Hendry Robertson, Peter Shaw.
Principal Office-bearers
Minister: David Scott Session Clerk Norman MacKay Clerk to the Board: Doris MacKintosh Church Treasurer: Gavin MacKenzie
Independent Examiner
Bankers
Dugald MacPherson Royal Bank of Scotland, 34 Ballifeary Road, Inverness, IV3 5PF 29 Harbour Road, Inverness
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Trustees’ Annual Report - Inverness Inshes East Church of Scotland - SC005553
Year ended 31 December 2024
The trustees present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities 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 applicable in the UK and Republic of Ireland effective from1 January 2019.
Objectives and Activities The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout the 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 ministry. It cooperates with other Churches in various ecumenical bodies in Scotland and beyond.
Inshes East Church is a congregation of the Church of Scotland with pastoral responsibility for the community of its parish. It aims to preach the message of the Christian gospel so that individuals may come to faith, be encouraged and nurtured in that faith and find purpose and direction through God’s call upon their lives. The regular meetings for worship are on Sunday mornings and evenings with mid week meetings for Bible study and prayer.
The Church also works with primary and pre-primary school-age children through its Truth Trackers programme, and with S 1-6 through “IT” (Inshes Time) on alternate Sundays. An open Mother-and Toddler group meets weekly. Special outreach, Christian Education and family support events and programmes are run when appropriate.
The Church offers the use of the buildings to all community groups involved in care and support work and this facility is much used. The ministers provide chaplaincy services to the three local primary schools and the secondary school for the catchment area, and work continues to build relationships with those schools.
Investment Policy and Performance The church has a 'low/medium" risk policy towards investment funds, see notes 3 & 7 of the accounts and aims for a mix of growth and income, and performance in the year broadly met those objectives.
Risk Management The principle risk is declining congregational numbers which could impact on financial stability. This risk is mitigated by a focus on the preaching of God's word, and a focus on working with families, young people and children whilst ensuring that all are welcome and supported through our pastoral care teams.
Structure, Governance and Management
The congregation is a registered charity, number SC005553 and 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 the elders of the church and are 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. Certain responsibilities are delegated to the Finance Committee and the Property Committee as appropriate. The Kirk Session which meets six times a year is responsible for spiritual affairs within the church.
Financial Review
The principal income for the year was from weekly offerings which decreased by 7% on the previous year.
Reserves Policy
It is the Trustees’ policy to hold reserves of nine months expenditure. At the year end the Church held unrestricted funds of £583,478. This balance represents about twenty-three months' expenditure and while this is higher than would normally be expected the Trustees are undertaking a number of fabric works and intend to increase expenditure on outreach and staffing.
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Year ended 31 December 2024
Achievements and Performance
The congregations of Inverness East and Inverness Inshes were united to form Inverness Inshes East from 12 March 2023 on the terms and conditions set out in the 'Basis of Union' agreed with Presbytery, including the holding of the property and funds held by or belonging to the former congregations being transferred to the re-formed parish, and the affairs of the re-formed church being administered under the Unitary Constitution.
As envisaged in the 'Presbytery Mission Plan' which proposed the union, the re-formed Kirk Session has progressed the sales of the East Church building and manse and, having agreed that continuing and developing a work and witness in Milton of Leys should remain a key priority, has employed a Ministry Associate with particular responsibility for that work, and purchased a house to enable him and his family to live in the Milton of Leys area. Another key priority is the development of work among children and families. In that connection, the Kirk Session has appointed a Youth & Family Worker. There has been a focus on establishing committees and teams to serve the new congregation in matters such as finance, fabric and pastoral care, with appropriate representation from both of the former congregations. That work is nearing completion, and the union generally appears to have progressed harmoniously. Attendances at Sunday morning gatherings have remained consistently at between 300 and 340 since the inception of the union.
Statement of Trustees' Responsibilities
Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those 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 judgments 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; and
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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 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. 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 irregularities.
Approved by the Trustees and signed on their behalf,
N MacKay - Session Clerk Date: �����������
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Inverness Inshes East Church of Scotland
SC005553
Report of the Independent Examiner to the Trustees of Inverness Inshes East Church of Scotland
I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 6 to 16.
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 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
An 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
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which gives me reasonable cause to believe that in any material respect the requirements: � 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
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Dugald MacPherson Professional Qualification/Professional Body: ICAS 34 Ballifeary Road, Inverness, IV3 5PF
Date: �����������
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| Total | 2023 | £ | 325,441 | 0 | 16,336 | 341,777 | 0 | 309,854 | 309,854 | 31,923 | 14,568 | 46,491 | 0 | 0 | 46,491 | 865,271 | 911,762 | 911,762 | ||||||||||
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| Restricted | Funds | 2023 | £ | 16,309 | 0 | 0 | 16,309 | 0 | 4,604 | 4,604 | 11,705 | 0 | 11,705 | 0 | 0 | 11,705 | 302,555 | 314,260 | ||||||||||
| Unrestricted | Funds | 2023 | £ | 309,132 | 0 | 16,336 | 325,468 | 0 | 305,250 | 305,250 | 20,218 | 14,568 | 34,786 | 0 | 0 | 34,786 | 562,716 | 597,502 | ||||||||||
| Total | 2024 | £ | 286,834 | 150 | 25,647 | 312,631 | 0 | 307,588 | 307,588 | 5,043 | 2,367 | 7,410 | 0 | -43,475 | -36,065 | 911,762 | 875,697 | |||||||||||
| Restricted | Funds | 2024 | £ | 17,715 | 0 | 0 | 17,715 | 0 | 29,420 | 29,420 | -11,705 | 0 | -11,705 | 0 | -10,591 | -22,296 | 314,260 | 291,964 | ||||||||||
| Unrestricted | Funds | 2024 | £ | 269,119 | 150 | 25,647 | 294,916 | 0 | 278,168 | 278,168 | 16,748 | 2,367 | 19,115 | 0 | -32,884 | -13,769 | 597,502 | 583,733 | ||||||||||
| Note | 1 | 2 | 3 | 5 | ||||||||||||||||||||||||
| Inverness Inshes East Church of Scotland | Statement of Financial Activities | Year ended 31 December 2024 | Income and endowments from: | Donations and Legacies | Charitable activities | Investments | Total Income | Expenditure on: | Expenditure on raising funds | Charitable activities | Total Expenditure | Net income/(expenditure) before gains and losses | on investments | Net gains/(losses) on investments | Net income/(expenditure) | Transfers between Funds | Transfer of proceeds of assembly controlled | properties to the Church of Scotland General | Net movement in funds | Reconciliation of funds: | Total funds brought forward | Total funds carried forward |
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Inverness Inshes East Church of Scotland Balance Sheet
At 31 December 2024
| Note Fixed Assets: Tangible assets 7 Investments 8 Total Fixed Assets Current Assets Debtors and Prepayments 9 Cash at Bank and in Hand Total Current Assets Liabilities Net Current Assets Net Assets The funds of the charity: Restricted income funds 13 Unrestricted income funds 13 Total charity funds 13 Creditors falling due within one year (monies due to third parties) Creditors falling due after more than one year |
Unrestricted Funds 2024 £ 150,000 152,365 302,365 48,375 232,992 281,368 0 281,368 0 583,733 0 583,733 583,733 |
Restricted Funds 2024 £ 291,964 0 291,964 0 0 0 0 0 0 291,964 291,964 0 291,964 |
Combined Unrestricted Total Funds 2024 2023 £ £ 441,964 207,401 152,365 518 594,329 207,919 48,375 4,535 232,992 385,048 281,368 389,583 0 0 281,368 389,583 0 0 875,697 597,502 291,964 0 583,733 597,502 875,697 597,502 |
Restricted Funds 2023 £ 278,038 0 278,038 0 36,222 36,222 0 36,222 0 314,260 314,260 0 314,260 |
Combined Total 2023 £ 485,439 518 485,957 4,535 421,270 425,805 0 911,762 0 911,762 314,260 597,502 911,762 |
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�������������������������������������������������������������������� The accounts were approved by the Trustees on 24 June 2025 and signed on their behalf by:
________ Session Clerk
________ Convenor of the Finance Committee
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Inverness Inshes East Church of Scotland Year ended 31 December 2024
Accounting Policies
The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are 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 UK and Republic of Ireland (FRS102) effective from 1 January 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities accounts (Scotland) Regulations 2006 (as amended)
Merger Accounting
On the 12th of March 2023, Inshes Church of Scotland, Inverness (SC005553) was united with the East Church Of Scotland Inverness (SC016866) to become Inverness Inshes East Church of Scotland (SC005553). Merger accounting has been used and relevant disclosures made.
Fund accounting
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
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.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the charity.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If 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.
Going concern
The Trustees consider that there are no material uncertainties about the ability of the charitable company to continue for the foreseeable future, and therefore has adopted the going concern basis in preparing these financial statements.
Recognition of income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic 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 (FRS102) the general volunteer time of congregation members is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt.
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Inverness Inshes East Church of Scotland Year ended 31 December 2024
Accounting Policies (continued)
Interest receivable
Interest on funds held on deposit 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.
Recognition and allocation of expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
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, vested in the Church of Scotland General Trustees. 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.
All tangible fixed assets costing in excess of £3,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided 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:
Fixtures, fittings and office equipment - 5 Years Motor vehicles - 7 Years
Investments
Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year.
Taxation
Inshes Church of Scotland, Inverness 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 resources expended therefore include irrecoverable input VAT.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at with the Investors Trust.
Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Creditors
Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
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| Total | 2023 | £ | 247,914 | 52,904 | 19,297 | 0 | 5,326 | 325,441 | 0 | 0 | 2,026 | 6,766 | 7,544 | 16,336 | ||||||||||
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| Restricted | Funds (MOL) | 2023 | £ | 13,055 | 3,254 | 0 | 0 | 0 | 16,309 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| Unrestricted | Funds | 2023 | £ | 234,859 | 49,650 | 19,297 | 0 | 5,326 | 309,132 | 0 | 0 | 2,026 | 6,766 | 7,544 | 16,336 | |||||||||
| Total | 2024 | £ | 231,386 | 44,638 | 2,000 | 0 | 8,810 | 286,834 | 150 | 150 | 768 | 5,188 | 19,691 | 25,647 | ||||||||||
| Restricted | Funds | 2024 | £ | 14,235 | 3,480 | 0 | 0 | 0 | 17,715 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| ������������������������������������������������������� | Inverness Inshes East Church of Scotland | Notes forming part of the financial statements | Unrestricted | Funds | 2024 | £ | 1. Donations and Legacies | Offerings 217,151 |
Tax recoverable on Gift Aid 41,158 |
Legacies 2,000 |
Value of donated goods 0 |
Other 8,810 |
269,119 | 2. Income from charitable activities | Weddings and Funerals 150 |
150 | 3. Investment Income | Dividends received 768 |
Deposit interest 5,188 |
Rental of Premises 19,691 |
25,647 |
| Total | 2023 | £ | 150,469 | (1,170) | 2,091 | 2,179 | 3,296 | 23,376 | 3,563 | 17,535 | 5,016 | 31,211 | 2,280 | 1,464 | 1,370 | 3,254 | 2,990 | 9,770 | 17,000 | 11,373 | 22,787 | 309,854 | ||||
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| Unrestricted Restricted Unrestricted Restricted |
Funds Funds Total Funds Funds |
2024 2024 2024 2023 2023 |
4. Analysis of Expenditure £ £ £ £ £ |
Charitable activities | Ministries & Mission allocation 155,326 0 155,326 150,469 0 |
less: Endowment Income (1,157) 0 (1,157) (1,170) 0 |
Presbytery dues 0 0 0 2,091 0 |
Minister’s expenses 2,981 0 2,981 2,179 0 |
Pulpit supply 800 0 800 3,296 0 |
Other salary costs 22,341 28,146 50,487 19,870 3,506 |
Contract Cleaning 3,875 0 3,875 3,563 0 |
Fabric repairs & maintenance 19,167 0 19,167 17,535 0 |
Council Tax 3,688 0 3,688 5,016 0 |
Other Building Costs - Heat and light 22,217 0 22,217 31,211 0 |
Insurance 3,456 0 3,456 2,280 0 |
Water Charges 1,857 0 1,857 1,464 0 |
Telephone 1,400 0 1,400 1,370 0 |
Printing, stationery, adverts & postage 1,176 500 1,676 2,754 500 |
Youth & other events 3,693 774 4,467 2,392 598 |
Audio Visual Equipment 0 0 0 9,770 0 |
Donations to Christian Organisations 14,650 0 14,650 17,000 0 |
Depreciation 0 0 0 11,373 0 |
Other expenses 22,698 0 22,698 22,787 0 |
278,168 29,420 307,588 305,250 4,604 |
Support costs have not been separately identified as the trustees consider there is only one charitable activity. | Therefore support costs relate wholly to that activity and have not been separately identified. |
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Inverness Inshes East Church of Scotland
| Notes forming part of the financial statements 6. Staff costs and numbers Salaries and wages Social security costs The average number of employees during the year was as follows: Ministerial support Administration |
2024 2023 £ £ 50,487 23,376 0 0 50,487 23,376 2024 2023 Number Number 1 0 1 1 2 1 |
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No employee had employee benefits in excess of £50,000 (2023: nil)
All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers' stipends and employer's contributions for national insurance, pension and housing and loan fund. 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) £38,884.
7. Trustee Remuneration and Related Party Transactions
During the year, one trustee received reimbursement of expenses incurred totalling £2.116. The manse council tax of £3,688 and telephone bills were paid on behalf of the Minister.
No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year.
During the year a total of £23,303 was donated to the congregation by trustees
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Inverness Inshes East Church of Scotland
Notes forming part of the financial statements
8. Tangible Fixed Assets
| Heritable | |||||||
|---|---|---|---|---|---|---|---|
| Property | Heritable | ||||||
| (Church | Property | Investment | Fixtures & | ||||
| Improv. at | (manse at | Property (at | Fittings (at | ||||
| cost) | cost) | valuation) | cost) | Total | |||
| Cost/valuation £ | |||||||
| At 1 January 2024 | 97,074 | 302,555 | 150,000 | 47,161 | 596,790 | ||
| Additions | 0 | 291,964 | 0 | 0 | 291,964 | ||
| Disposals | -97,074 | -302,555 | 0 | -47,161 | -446,790 | ||
| At 31 December 2024 | 0 | 291,964 | 150,000 | 0 | 441,964 | ||
| Accumulated Depreciation £ | |||||||
| At 1 January 2024 | 70,602 | 0 | 0 | 40,749 | 111,351 | ||
| Charge for Year | 0 | 0 | 0 | 0 | 0 | ||
| Disposals | -70,602 | 0 | -40,749 | -111,351 | |||
| At 31 December 2024 | 0 | 0 | 0 | 0 | 0 | ||
| Net Book | Value £ | ||||||
| At 31 December 2024 | 0 | 291,964 | 150,000 | 0 | 441,964 | ||
| At 1 January 2024 | 26,472 | 302,555 | 150,000 | 6,412 | 485,439 | ||
| 9. | Investments | ||||||
| Market value at 1 January 2024 | £ 518 |
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| Unrealised gain / (loss) on investments | 2,367 | ||||||
| Purchase of Investments | 149,998 | ||||||
| Disposal of Investments (cost) | (518) | ||||||
| Market value at 31 December 2024 | 152,365 | ||||||
| Investments at cost | 149,998 | ||||||
| The following investments are held: | |||||||
| Church of | Scotland Investors Trust Income Fund | 6,843 | units | ||||
| Church of | Scotland Investors Trust Growth Fund | 12,019 | units | ||||
| **10. ** | Debtors and Prepayments | 2024 | 2023 | ||||
| Gift Aid Tax Refund Due | £ 48,375 |
£ 4,535 |
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| 48,375 | 4,535 |
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Inverness Inshes East Church of Scotland Notes forming part of the financial statements
11. Analysis of Net Assets Among Funds
| Fixed Assets Investments Current Assets Current Liabilities Net assets at 31 Dec 2024 Fixed Assets Investments Current Assets Current Liabilities Net assets at 31 Dec 2023 |
General Restricted Total 150,000 291,964 441,964 152,365 0 152,365 281,368 0 281,368 0 0 0 583,733 291,964 875,697 General Restricted Total 207,401 278,038 485,439 518 0 518 389,583 36,222 425,805 0 0 0 597,502 314,260 911,762 |
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12. Volunteers
In common with all congregations of the Church of Scotland the 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 contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown.
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Inverness Inshes East Church of Scotland
Notes forming part of the financial statements
13. Movements in Funds
| Restricted funds MOL Fund Manse Fund Unrestricted funds General Fund Total Funds Restricted funds MOL Fund Manse Fund Unrestricted funds General Fund |
At 1 At 31 January December 2024 Income Expenditure 2024 11,705 17,715 29,420 0 0 0 302,555 0 0 0 -10,591 291,964 314,260 17,715 29,420 0 -10,591 291,964 597,502 294,916 278,168 2,367 -32,884 583,733 911,762 312,631 307,588 2,367 -43,475 875,697 At 1 At 31 January December 2023 Income Expenditure 2023 0 16,309 4,604 0 0 11,705 302,555 302,555 302,555 16,309 4,604 0 0 314,260 562,716 325,468 305,250 14,568 0 597,502 865,271 341,777 309,854 14,568 0 911,762 Net gain/(losses) on investments Transferred to General Trustees Transferred to General Trustees Net gain/(losses) on investments |
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Purposes of Restricted Funds
The Milton of Leys Project (MOL) fund is for outreach and work in the Milton of Leys area of our parish.
The Fabric Fund: the Trustees have set aside funds for the maintenance, improvement and acquisition of the church properties.
14. Collections for Third Parties
| Arise Africa - Open Doors DEC - Middle East Blythswood Care Macmillan |
2024 2023 £ £ 1,473 0 1,006 0 0 610 600 0 3,079 610 |
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Inverness Inshes East Church of Scotland Notes forming part of the financial statements
15. Analysis of principal SoFA components for the current reporting period
| East | Inshes | Inverness | ||
|---|---|---|---|---|
| Church Of | Church of | Inshes East | ||
| Scotland | Scotland, | Church of | Combined | |
| Inverness | Inverness | Scotland | Total | |
| (pre- | ||||
| merger) | (pre-merger) | (post-merger) | ||
| £ | £ | £ | £ | |
| Total income | 0 | 0 | 312,631 | 312,631 |
| Total expenditure | 0 | 0 | 307,588 | 307,588 |
| Net income/(expenditure) | 0 | 0 | 5,043 | 5,043 |
| Other gains/(losses) | 0 | 0 | 2,367 | 2,367 |
| Net movement in funds | 0 | 0 | 7,410 | 7,410 |
| Analysis of principal SoFA components for the previous reporting period | ||||
| Total income | East Church Of Scotland Inverness (pre- merger) £ 20,058 |
Inshes Church of Scotland, Inverness (pre-merger) £ 55,211 |
Inverness Inshes East Church of Scotland (post-merger) £ 266,508 |
Combined Total £ 341,777 |
| Total expenditure | 34,335 | 38,943 | 236,576 | 309,854 |
| Net income/(expenditure) | -14,277 | 16,268 | 29,932 | 31,923 |
| Other gains/(losses) | 0 | 0 | 14,568 | 14,568 |
| Net movement in funds | -14,277 | 16,268 | 29,932 | 46,491 |
16. Analysis of principal SoFA components for the previous reporting period
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APPENDIX
Inverness Inshes East Church of Scotland
FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES
| Consolidated Fabric Fund CAPITAL ACCOUNT Credit Balances held at 31 December at cost Market Value of Balances at 31 December REVENUE ACCOUNT Credit Balance at 31 December TEMPORARY ACCOUNT Credit Balance at 31 December |
2024 £ 0.00 0.00 7,875.31 261,221.74 |
2023 £ 0.00 0.00 0.00 2,116.16 |
|---|---|---|