Charity roglstration numbèr. SC006482 Iseotlandl CongregatSon number: 2B1720 ARBROATH AND DISTRICT CHURCH OF SCOTLAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ARBROATH AND DISTRICT CHURCH OF SCOTLAND LEGAL AND ADMINISTRATIVE INFORMATION Prlnelpal offlcè bèar•r5 Chorlty numbor SC006482 Prlnclpal address Kepts'e Street Arbroath DD11 3AZ Audltor Findlays Audit Limrted 11 Dudhope Terrace Dundett DD3 6TS 8ank•r8 Bank of Scolland Brotho¢k Bwidge Arbroalh DD11 1NH Inv¢8tmeni monag¥r8 Church of S¢oii8nd Inve$iors Trusi 121 George Slreet. Edinburgh. EH2 4YN Barclays 1 Churchill Place, Canary Wharf. London, E14 5HP Thomlons Investmenls 35 Yeaman Shore, Dundée, DD148U M&G Investments PO Box 9038. Chelmsford. CM99 2XF Evetyn Partners 45 Gresham Streel. London. EC2V 7BG
ARBROATH AND DISTRICT CHURCH OF SCOTLAND LEGAL AND ADMINISTRATIVE INFORMATION
ARBROATH AND DISTRICT CHURCH OF SCOTLAND LEGAL AND ADMINISTRATIVE INFORMATION Trustèès conL
ARBROATH AND DISTRICT CHURCH OF SCOTLAND CONTENTS Pagè Trustees, report Statement ol trustees, responsibilities Independent auditorfs report Slalemenl ol finanual 8¢tivitie$ 10- 11 8¥lan¢e $h&el 12 Statement of cash flows 13 Notes to the financial statements 14-35
ARBROATH AND DISTRICT CHURCH OF SCOTLAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial ststements have been prepared in accordance vAth the 8ccounting poliryes sel out in note 1 to the financial staternents and cornply with the chvrch'5 ¢x>nStitu"0n, the Charitie5 and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 20(, FRS 102 Yhe Financial Reptsrts"ng Standaid applicable in the UK and Republic ol Ireland" and the charits SORP "Accounts"ng and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021". OBJECTIVES AND ACTIVITIES The Church of Scotland is Trinrtarian in d¢xtrine. refonned in tradition and Presbyterian in polity. 11 exists to Glorify God and lo work for the advancement of Chrisfs Kingdom throughout the wodd. As a national Church. it acknowledges a distinctive call to duty to bring the ordinances of religion to the people of every Ferish of the Scotl8nd through 8 territorial rninistry. It Co-operate5 wrlh other Churches in various ecumenical bodies in Scod8nd and beyond. Services are held each Sunday at 10'.00am in Ihe churches In Camiyllie. In¥et*eikJr, and West Kirk, and at 11.'30 am in Friockheim Community Hub, antJ Ihe St. Andrew's. and St. Vigeans churches in Arbroath. A midweek service is also held every Wednesday al 10'.30 am at Sl. Andrew's. For those unable lo attend in person. we live slrearn our weekly Sunday worship from St. Andrew's 8nd Wesl Kirk. wrth recordings available from four of the six locations afterwards, also available by phone and on Ra(Jio North Angus. Communion 15 diaried four trn&5 per year and c&l&braled additionalty infomi81ty with provision for young people tluiing $¢hool lems in three of our locations. Our church premises host a variety of church and communty groups each week and our halls are also available for hire to our community. Further infomialion ol these can be found on our websile- arbroalhdistrictcofs.org.uk ACHIEVEMENTS AND PERFORMANCE This has been a truty unique year in Ihe life of the Church of Scolland parishes in and around Arbroath. On 29th February eight parishes - fomierty the rural charges of Colliston. Cam)yllie. Friockheim and Kinnell, Inverkeilor and Lunan and the town charges ol Arbroath Old & Abbey. Arbroath St Andrew's. Arbroath St Vigean5. Arbroath West Kirk uniled lo form Arbroath and District Church of Scolland under Ihe charty nurnber ol the fomier Wesl Kirk. On 1 st May a second Act of Union added the forner Arbirfol parish to the new church famity. Th new parish is served by a ministry te8m ol lour - three mini$ier$ of word and sacrameni and ¢hildren and familie$ worker whos salary is funded 504/0 localty. One of the ministèrial posts is cutyentty vacant and wè are abty supportèd in worship and pastoral care by a locum. Such a significant change In Structu and ministry SOUrce, wth the resuttant changes in the number of buil(Jlngs retained, the pattems of worship and the adjuslment to a new Kirk Session and reporting structure has been a big challenge for all. Consequenlly. this report and Ihese accounls rellect a period of IranSitn, ol familiarisation and of settling in whilst al the sarne time highlighting new initiatives. challenges and plan5. The number of our worshipping centres has reduced from nine to six and to ensure services each week times have been 3lleied lo rnake this possible. During Ihe summei and foll¢)wng the Chrisltnas season we h8ve 8150 held unrted seNices, over the summer in each of our I("0nS to allow for familiarisats.on for the thurd) family. There has been continued involvement with our ecumenical partners across the town for the Vveek ol Prayer for christs.an Unity, the Wodd Day ol Prayer. the Good Friday Walk of Wrtness and a Servi to mark the start of the new year. We've worked hard lo make sure we communicate effectivety with our membership which now stands at over 2000 people. A new website and Facebook page coupled wrth weekty emails and a bi-monthty magazine have helped to let as many as possible know what is happenin9 and th81 ihe usual wide range of activities for all ages continue. thanks to the skills. tirne and efforts of 50 many volunteef5. Thi5 has leaped benefits wth a lot of 5UPPOrt for the annual Christian Aid Coffee Moming and the Summer Fete. The working together of our administrators- personal and digitally has helped to coordinate bookings for the hi of our halls and provide holiday and SknesS cover as well bringing together the administration of the roll and day to day finanual administration.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 At the same tiff, we have knked to cate some new inrfiatNes to offer foks the opportunty to WO together and through this lo gel Ic know one another. Farnity FrKJays. runs on the ksl Friday of every month h85 alowed us to welcome Several families fof a meal. a bible story and various craft. kgo activrts and gam85. Al Christrnas lfim& wa hdd a bvé nativty trail in 2 v•nu¢$- ttr•m and w•$ ènjoyèd by • w+ rangè of ages. also havè plans for 2025 - th• start of an ar Scho 0 to rainfLY the woth donè in schools with Blbla Alivè. Bubblegum & Fff and Easler Code and after Easter be hosting Alpha wekoming and inwting those interested in the Christian farfh to heaf mNe. Slralegicalty a huge amount of tiwre and effort has been spent w the transfrrring of records to a new accounting 8yStem and on th? administrats've work that has been nece¥3ary maintaining propeth8 and preparing thos? that are to bè dispos¢d ol lor abng wth ¢)n• of WorshipTh9 Commun$ Into tha bcal commurtlty hub. Inevitab vAth the cbsures of bU11ngS and Ihts uncertainty of a vacancy, a new UTh)n and a whcAe new structure, there hgve been challeng¢$ and hav¢ kst member& PLANS FOR FUTURE PERIODS A8 we kjok foad to 2025 Ihen w8 reali8e thal there 18 much rJrk to do. There are decisions to make on buildings, a more detailed orgjnisatvJn slwctur8 lo de1)p ond ? hard to tske 8t our finan. For the pa¥1 3 months w• have been undrtaking a Mis$n¢1 Li$tning Propd lo al$ vthal our $trenqth$ ¥r, %thal our ¢ommunlty'$ n88d$ ar• gnd wh•r• w¢ might se. Through both proth"1 and $pirrtu4 rae¢lJon. we trust Ihal wll be abb lo contlnue our deepening of Telatn8hlps. cement the unlon thal has taken and bok forward to the fijture together. FINANCIAL REVIEW INot8'. In g¢¢ordan¢e wtth th• pth$k)n$ of FRS102. and ufjlr4J lh• ¥4ul$Nlon m•thod of •¢¢ounting. 411 compar8tlve fl9ur•8 are for th• contlnukng chadty numbor onty.. ScCll35j.' Arbroath $t Church ol Scollandl. The financlal year to 31 D8mber 2024 m4rk•d a 8lgnlfi¢ènl perlod of tr5n$n, foln9 the uron of tho nlne ongreg8b'on8. Th• transfer 01 b8lance$ M the unw amcwnld lo £2222.563. ¥nd bwus• of th• ac¢ounling r•quir•m•nts ftr a unh)n, thi$ ha$ lrnat•d a$ in¢om• in th• yèar. This tr8n$l•r wa$ not 8 ¢ath donation bul corryJrl8•d a mixture ol prop•ty. Invg$trnenis, And •xlsb"ng bank bAl8nco8. Excbjdlng th18, regular Income durfng the year affK)unted to £610.274. largety from congregatlonal offerfThJ8, Gfft Ald, and hall lettings. Total expenditure for the year was £775.160, primaffti rdating lo mini&try costs, property upkeep, and ngregal1nal a¢livilie$. Al th• y¢8r end, lot8T fvnds stood at £2,531,123 12023.. £397,270). Th1$ ¢tynprlsed unre$tri¢ted fvnd$ of £2,179,860 12023.. £224,464), endrNmwnt fiJnt18 01 £80,29412023'. £170.0161, and restrlcted fundi of £2,989(2o23.' £2,7) The financlal poslh.on Is rev16 regulaty to conunued sustaknwblty and algnmnl thlth tho mlsslon and priortties of the united congregatKJn. As part of tht union. the reco9nith)n of proparty tsfjés and r•lat•d ass•ts r•quir•d significant danfitth du• to th ¥8rid histori¢al troatmnt of pwrty ovmtsrship. S•v•ral prortI$ w•r• pl¥0U$lY h•ld by indNidual congregalons but were not forn1ty recognlsed wlthln Ihe fflnand4 statements.ofthe merglng churches. Folbwlng a review and dBrrThcatM process. the ChuT( of Scoiland provJed guNJance on whKh propertles we k)¢alty ve81ed and whith are ovmed by the central booy. As a re8dt. knjr Prevu8ty unreo)gniBed propertieB.' three hur¢h hall$ and on¥ m8rt#e, hav¢ b¥en add¢d lo Ihtr balance $h¢el thi$ ytrar, rglpcts'ng the ¢ur•t¥ $$$01 position ol Ihe nety fomed unh)n. FurthemKJre, a property previtiu h.sted in the Fixed Assel Register of St Andrews Church was found to be omed centraty by The Church of Scotland and h8s been written off from the union's accounts before flnalslng the cJaOon of reser¥es and donauons. These change3 weve necessary lo ensure the finan(xal slatements accuralety refieca the cuwent asset owTrernhip •nd the tru• posith)n of th• unKn, •$ ofthe ye•r •nd•d 31 D8¢¢mbor 2024.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves Policy It is the policy of the church that unrestricied fijnds whid) have not been designated for a specific use should be maintaine¢J at a level equivalent to belween three and six month's expenditure. The trustees consider that reserves at this level will ensure that. in the evenl of a significanl drop in hjnding, they will be able lo continue the church's current activities while consideration is given to ways in which additional fvnds may be raised. ThB level of reserves has been maintained throughout Ihe year. Inv•stm•nt Polley Following the union of the nine churches to fom Arbroath & District Chufch of Scouand in 2024 it was decided to maintain the investments held previous by the uniling churches. until Ihe fomalities for the change ol name, address and of signatories, were complete. This process has taken longer than antiapated. Overall the Church is commilted lo the prudent management of rts financial resources in a manner that aligns wrth ils Ghrisli8n values and long-lerm mission. Investrnents are currenty held in welk5pre8d charifund5. 8 few wel spread Investments trusts, in Church of Scotland Investors Trust Growth and Income units and a few drect equities. Hol¢Jings will be rationalised once the above-mentioned fom)alib"es are entirely complete. Investments currently held are well-spread, with a locus on capital preseNatn an¢J stable income generaln. The overall assessment ol risk is deemed lo be medium. RIBk Management The Trustees have assessed the malor risks to which the church Is exposed. partlcularfy those relatlng to flnances, and have implemenled plans lo mibgate these risks. Wlh an ageing congregation both nationalty and locally, the ability to continue raising sufficient funds to meel both local needs and contribute lo the broader mission of the church remains critical. In line with besl practices and guidance. the church will continue to emphasise the irnportance of stewardship and enga9e the community in svpports'ng rts work. A(Jdilionalty. the thurch will seek lo make rts buildings available lo olhtr groups, both as a means of outreach and as a source of income geneialitsn. The long-temi financial viability ol the church will depend on maintaining strong community connections and exploring new opportunities for income generalTr. The current lea(Jership remains committed. with a dedicated tearn of Trustees who continue to support the church's woth. However. like many other organi5ations. the church lace5 challenges due lo dernographic changes. with a 5ignrficant portion of Ihe leadership being of retirement age. Th& long-lemi sustainability will depend on 8ppro8¢he$ lo maintsining relevan¢& wlhin the communty and attracting now 8ngagèmÈnl. Non-finanaal risks such as hearth and safety, food hygiene. safeguarding. and fire prevention are regularfy reviewed by the appropriate teams (o ensure a safe environmenl for all invofved. STRUCTURE, GOVERNANCE AND MANAGEMENT The congregation is a registered chanty. number SC006482 and is administered in accordance with the terms of the Unitary Fomi of Constrtution and is subieci to the Acts and Regulations of the General Assembty of the Church of Scotland. Organlsatlonal Structure Thè day-to-day management and administration of the church is delegated to Ihe principal tsffice bearers, as listed on the Legal and Administrative Infomation page. These individuals a sponSible for overseeing the routine operats.ons of the church in accordance wtth the deasions and poliaes set by the trustees.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 R•crultm•rt and 4ppolnlm•nt ol InAt• M•mb•rs of Kilt Session arn th• ¢h trtAt. Th• S•uion m•mbm 4rn th• •ldèrn of th• ¢hLYch •nd are (IN)n In those mernber3 of tlw who (81dered to have the rywopriate and •killB. The mlnbter. who 18 8 member of the Khk So88k)n, Is el8(thJ try the o)ThJr•gathJn aThJ Induced ty Presbfi8ry. Th8 Ktrk S8ssk)n Is app)Int8d from rfthin th• coThJr8gatw and m8mbws d tho cl)ngrng0n w8 Int•d to nomlnats indr¥iduals who alp bel to have the skil3 and canmitment to ryjnlribuie to the rnanagemenl of the Churth, to become Krk Se86ion member8. The lQth SessKJn 18 (aiTed try the minirter meets at beast three mes In a yffir. Certaln responslbllltl88 aro ddegatod to tho v8rhJu8 Task Groups as apprcprfate. The Kjrk Sossknn whith medj ot Iwt tPY¢e ti[ 4 year 13 responsikAe fvr spiritu41 aff4irs TAithin th• thurth. Thg hJndion3 ofth? lfjrk Se83N)n, bdh and tsmpwal shal be dew to the lfjrk Se8won ExevJl1 vthith shall (XIpriSe the Moderator crf the lQrk Se8sbn. Sos8kJn Clerks wlth LI Ehjors frcrfn ea( task group Sh1 moot onca a month or 88 d••m1 n8cssary. C•rtAin r•spon&tilrfi•s arn d818gat•d to th• Task Groups as ApF¥owi& Th8 Kirk S8ssion 3hal rneet at IBa3t annuaty orThtsn to do 80 in VAlh the t)gBd ofCor¥JlilulirM.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, report was approved by the Board of Trustees. 7 August 2025
ARBROATH AND DISTRICT CHURCH OF SCOTLAND STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEAIBER 2024 The trustees are responsible for preparing the Truslees. Report and the financial statements in accordance with applicable law and United Kingdom Acuntrng Standards (United Kingdom Generally Accepted Accounting Pr8Cticel. The law applicable to charities in Scouand requi$ the trustees to prepare finanaal statements for eath finanaal year which give a true and fair view ol the state of affairs of Ihe church and of the incoming resources and application of resources ol the church for that year. In preparing these financial statements. the truslees are required to.. select 5Ultable accounting policies and Ihen appty them consistenty.. observe th8 methods and principles in the Charities SORP., make judgements and esb'mates that are reasonable and prurjenl", state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements". and prepare the financial slalements on the going concem basis unless r( is inappropriate to presun* that the charty 11 continue in operation. The Iru3lees are responsible for keeping sufficient accounting records Ihal disclose with reasonable 8ccur8cy al any tlm8 the financial position of the churth and enable them to ènsurè that the financial statements cpty with thè Charities and Trustee Investment (Scotlandl Act 2005. the Charrties Accounts (Scotlandl Regulations 2006 and the provisions ol the trust deed. They are also responsible for saleguarding the assets ol the church and hence for taking reasonable steps for the prevenlion and delection of fraud and other irregularities.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARBROATH AND DISTRICT CHURCH OF SCOTLAND Opinion We have audited the financial statements of Arbroath and District Church of Scotland (the 'church'l for the year ended 31 December 2024 which comprise Ihe statement of finanoal activrties, the balance sheet, the statement of cash flows and notes to the financial slatemenls. induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standards. including Financial Reporting Standard 102 The Fin8ncJ81 ReportAng St8nd8rts 8pplic8ble in th8 UK 8nd Republic ol Irelond (United Kingdorn Generally Accepted Accounb"ng PractiGel. In our opinion, the financial statements". give a true and fair YW of the state of the charity's affairs as at 31 December 2024 and of its incoming resources 8nd applicalion ol resources. for the year then ended., have been property prepared in accordance wsth United Kingdom Generally Accepted Accounting Practs'ce.. and have b6•n prepared in accordance with the Chanties and Trustse Inv•stm&nl Iscotlandl Act 2005 and regulation 8 01 the Chanties Accounts (Scotlandl Re9ulations 2006. 8a818 for oplnlon We conducted our aufjlt In a¢¢ordan¢e wilh Intemalional Standafd$ on Auditin9 IUKI IISAS IUKII and appll¢abl$ law. Our résponsibilities under those standards are further desuibed in the Auditorfs rgsponsibilili&s for the &udit ol the fi'nancial statements section of our report. We are independent of the church in accordance with the ethical requirements that a relevant lo our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and the provisions available for small entitie5. in the circum5t8nces sel out in note 31 lo the financial statemen13, and we have fuwilled our other elhical responsibilrties in accordance with these reqU1mentS. We tselieve th81 the 8udil eviden we have obtained 1$ suffKienl and 8ppropri8te lo provide 8 basis for our opinitsn. Conclu8lon8 r•latlng to golng eoncém In auditing Ihe financi81 statements. we have conduded th81 the tru8leès' use of the going Ctsncttm basis of a¢¢ounling in the preparation of the finan¢ial slalements 1$ 8ppropiiale. Based on the work vle have perfom)ed, we have not identffied any material uncertainties relatlng to events or conditions that, individualty or collecti¥ety. may cast significant doubl on the church's ability to continue as a going concern for a period of at least efve months from when the finanaal statements are aulhorised for issue. Our respon8ibililie$ and the wponsibilities of the tfU8tees wth respect to going Mncem ¥rt described in Ihtt relevant sections ol this report. Oth•r Infomiatoon The other informalion cornprises Ihe information included in the annual reporl olher than the finarcial statements and our 8udilorfs report Ihereon. The trustee$ 8re responsible fr)r Ihe other information cont8ined within the annu81 report. Our opinion on the financi815tatements does not cover Ihe other information and we do not express any ft>im of assurance conclusion thereon. Our responsibility Is to read the olher Infom)ation and, in doing so. consider whether the other infomiation is materialty inconsistenl with Ihe financial statements or our Knoedge obtaine¢J in the course of the audit. or othewse appears to be malerially misstated. If we identify such material inconsistencies or apparent material misslaternenls. we are required to detemiine whelher this give5 rise to a materpl misstatement in the financial slalements themselves. 11. based on the work we have performed. we conclude that there is material rnisstatement of this other inft>rmation, we are required to report that fact. We have nothing to report in this gard.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ARBROATH AND DISTRICT CHURCH OF SCOTLAND Matt•r• on whkh w• ar• r•qulrod to rnport by ?xc•ptlon hav8 nothing to rèport in respect of th8 fOllyn9 matters In r91aOn to vthbch Ihe charl11 kts)unts Iscodandl Regulations 2C¥J6 requires us to rfrport to you rf, in our opMX." tho infonn¥l given kn tho ffin4nu#l $tstemsnts 1$ me51$tot •rry mat¢rfo1 wp0L wlth th& trusts¢$' r•port, or proper accounting records ha nol been kept.. or th• financlal slat•m•nts are not In agreement wllh the accountlng racords." or we have not receNed all the inlormath)n and explanalions we requirg for our audiL R••pon•lbNltl•• of tru•t• As explained more in the statement of Iru8tee8' reSpS1.beS. the tnJSt8 are re8pon8iNe for the prepar8b.on ol the financial statements and for bekng satisfied that they give o true and fair wew, and for such nlemal contrG4 as the trusiees delermlne Is necessary lo enat4e the preparthn of finanual $talernents that are free frorn materfal misstslemenl. whether due to fraud or errw. In pr•paring thtr financial statenI1. the tru•te?¥ ar• sponsib for assèssin9 th• ctturch's ablty to contlnuo as a gn0 0)n¢n. dlscbslng. as 8ppkat4•, mattors rglated to going concern and using the going concem basls of accounllng unhss ihfr Iwstefrs Olther Intend to c•asfr Lyrallon8, or have no r8alists'c attematsv8 bul to do so. Audltorf• r••pon•lbllltJ•• for th• •udSt ol th• fln•ncl•l •tst•m•nts W• havfr b8•n appointed as audrtor under seCtn 4411llc) ol th• Charli1•8 and Trust8e lnStM•nt Iscotsndl A¢t 2CQS and report In accordance vhth Ih•Act and relèvant r8gulatlons mad• or havlng effect thereund8r. Our obJeclfve8 are to oblain reaoonablp assurance •bLxrt thether the flnandal statements a8 a whob aro free from material mi38lalemenl. vthelhef due lo fraud or error. and lo issue an audrtorf8 report that indude3 our opinion. Ro8$onabl¢ 8$SUran w o hyh ol o$iur4n¢ but 1$ not • guor#nts• th•t an ouait ¢ondu¢ted In a¢¢ord¥n¢• vAth ISA$ IUKI vlll thlays detsd a mat&rf81 ml$ststemnt when it ¢xi$t$. Ml$it8t•mnt$ ¢8n •rt$¥ trom fraud or error and afg ¢on$id•f¥d mat•rial rf, indNhluaty or in lh aggregate, th&y codd b8 exp•d8a to bnfluen the eCt)nOm d•a8ions of us•rs taken on the basis of thesa financAal statements. Irregularftkis, Indudlng fraud are kn$tanC of nonwcomplance laws and regulatlons. de8vJn procedures In line with our Tesponsiblrtie3. a3 ouuined above. lo detect materilll mirrJtatem•nts in r•¥pecl ol irregularitie8, including hud Ind norQMplianc• with IWB and re9ulation$ •$ dtsta1 bgbyw. The audrt te8m has appro81• skllls and •xp•rti8e rnquir•d and thmuph dlKusslons thth mnwm•nt and Trustees, knowledge of the sector to ensure any nonwcomplance is recognised and 811 Trecessary disdosures are made. The contrc46 In place h the church mtyate lh8 rtsk of fraud and alw ahl$ them In hvJhl"9hts"Thg any inslances of fraud ¢hat mlghl have occuThed. The extent to vthi¢h our pro¢edur•8 arn c•pot4e oldete¢tin9 thgd•r6t•, I)1n9 fr•ud. 16 detolknd belw.. Maklng enquiries of management about any kncmn or suspected instsnces of non compliance vAth law8 and regulations, incljding GDPR. empknyment law. safeguarding law, health and safety laws and fraud RleW of CorspOndence wth gu10[S induding OSCR. ConVan House and kgal adv¢sors Review ofkgal fees expendrture and board minules Challenging a8surnptN)ns and judgefflenls rnade by managempnl in their SWnTficanl accounting e8timates inCding th• applic8t)n of judgemèni&std accounting pOlS and th• albcalion of rèslridèd axpansès Auditing th• risk of m8n8gemtrnl ov•Nid• ¢onlth. induding through t•$tino of joumal •nlri•$ and oth•r adjustments for 8ppmpriateness Performing anatytical procedures to idenbfy any unusual transaclion& • re¥Tra minutes of meeiings of managemenl and those charged with go¥emance
ARBROATH AND DISTRICT CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ARBROATH AND DISTRICT CHURCH OF SCOTLAND Because ol the field in which the charty operates in. we identffjed the following areas as those most likely to have a material impact on the financial slalements.. Direct impact on financial statements= Companies Act 2006 FRS 102 SORP 2019 Indirect irnpact on financ481 ststements.. Employrnenls18WS Heatth & safety laws Food hygiene regulations Safeguarding regulations GDPR A fvrther descripbon of ovr responsibiliti'trs is availabltr on the Financial Rèporling Council's website al.. htS..11 www.frc.org.ukl8uditorsresponsibil(ii&s. This des(XiPts"on loms part of our audilorfs r&port. Oth•r matter8- comparatlve Infonnaljon The financial statements for the year ended 31 December 2024 indude corresponding figures lor the year ended 31 December 2023. Those figures were denved from financial slalements Ihal were subject to an independent examination, rather than an audit. We have not audrted Ihe financial slalemenls for the year ended 31 December 2023 and, accordingly, we do not express an audit opinion on those figures. Your attention is drawn to the 18U Ihal the ¢h81ty has prepared finan¢i81 SlMentS in acrdance with "A¢¢¢unling and Reporting by Charilie$'. Stslem&nt ol R&¢ommènd&d Practi applicabl& lo ¢hariti¥$ pr¥p8rin9 their aoUnt8 in accordance wrth the Financial Reporting Standar¢J applicable in the UK and Republic ol Ireland IFRS 1021. las amended) in preference to the Accounting and Reporting by Charities.. Stalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the exlant regulations bul has now been withdrawn. This has been done in order lor the fjnan¢i81 statements to Provide a true and fair view in accordance with current Generally A¢¢epled A¢¢ounling Pr8¢ti¢e. U80 of our rèport This report is rnade solely to the Charity's trustees. as 8 body. in acrdance wth Regulation 10 of the Charities Accounts Iscollandl Regulabons 2006. Our audit work has been underlaken so th8t we might $18te to the ch8rily's trustees thosè matters we are rUlTed to state to thèm in an auditor's report and for no other purpose. To thè fullèst extent pemitted by law, we do not accept or assume responsibilty lo anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinKJns we have fomied. s Audit Findlays Audit Limited, Ststuiory Auditor Chartered Accountants 11 Dudhope Terrace Dundee DD3 6TS 7 August 2025 Findlays Au¢Yit Lirnrted is eligible for appointmenl as auditor of the churth by virtue of rts eligibility for appointrnent as auditor of a company under section 1212 of Ihe Companie5Acl 20C6.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEAIBER 2024 Current financial year Unrestricted EndowTnent funds funds 2024 2024 Restricted funds 2024 Total Total 2024 2023 Income and endovrnents from: Donations and legacies Ch8ritsble activities Other trading activities Investrnenls Other income 425,397 23.012 64.578 46.204 1.859.251 47,391 1.070 388 472,788 24.082 64.966 48.438 2.222.563 80,938 12.635 5,330 11,972 2.234 55.989 307.323 Totsl Income 2.418.442 58.223 356.172 2.832.837 110.875 Expondltur• on.. Raising funds Charitable activili$s Other expenditure 4.148 579,826 115.645 262 438 74,841 4.848 654,667 115.845 2.558 152,660 14 Total expendltur• 699,619 262 75.279 775.180 155,218 Nel gainslllossesl on investrnents 15 66.378 2.333 7.465 76.176 18.274 Net Incomellexpendltur•l 1,785,201 60.294 288,3S8 2,133,853 128,0691 Tran3fers beeen funds 170.195 1170.0161 11791 Nel movement In fund$ 11 1.955.396 1109.7221 288.179 2.133.653 128,0691 R•¢oneillatSon ol lund•= Fund balanS al 1 January 2024 224.464 170.016 2.790 397.270 425.339 Fund balances at 31 December 2024 2,179,860 60.294 290.969 2.531,123 397,270 The statement of financial activitie5 includes al gains and105ses recognised in Ihe year. All income and expenditure derive frorn continuing activities. 10-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEAIBER 2024 Prior financial year Unrestricted Endovmient funds funds Restricted funds Total 2023 2023 2023 2023 Notès Income and endowments from: Donations and legacies Charitable activities Other trading activitiès Investments 80.938 8.764 5.330 9.680 80,938 12.635 5,330 11.972 3.871 2.292 Total Incorn? 104.712 6.163 110,875 Exp¢ndltur• on.. Raising funds Charitable activiti$$ 2.558 2.558 152,660 143.616 9.044 Total •xpèndltur• 143,616 2,558 9.044 155,218 Nel goinslllossos) ot) Inv&$lments 15 7.883 8.391 16,274 Net Incom?IlexpendltUTel *nd movemenl In fund¥ 131.0211 5.833 12.8811 128,0691 R•eonclllatlon ol fund8: Fund balanS al 1 January 2023 255.485 164.183 5.671 425.339 Fund balonce$ at 31 December 2023 224.464 170.016 2.790 397,270 11
ARBROATH AND DISTRICT CHURCH OF SCOTLAND BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notès Fixed assets Tangible assets Inve5trnents 17 18 786,361 1.3(.124 29,955 301,114 2,092.485 331,069 Current assets Debtors Cash at bank and in hand 19 78.616 389.862 4.936 64.699 468.478 69.635 Credltors.. amounts lalllng due vAthln one year 20 129.8401 13.4341 Net current a¥•?ts 438.638 66,201 Totsl 48$•18 1•8$ ¢urr¢ni11oblllU¢$ 2,531.123 397,270 The lund8 of the church Endowment funds Restricted income funds Unrestricted funds 80,294 290.969 2.179,860 170,016 2,790 224,464 22 23 2.531.123 397.270 The financS8l stateménts w8r• approvèd by th• trusle•s c*17 August 2025 12-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Ca•h flow8 from op•rntlng aetlvltl•• C88h generaled frO11{abe0thd by) operalons 1.157.W3 {50,0521 knv••tlng •etlvltl•• PuTch88e of langit4¢ fixed assets Proceeds from disposal of tangible fixed a&ryets Purchase of investments Proceed8 from disposal ol InNY•tnnts Investment income recelved 1767.5351 11,2591 {115.6451 136.2481 38.248 11,972 N•t c••h lu••d lThVg•n•rni•d from Invmllng {832,7401 10,713 N•t ¢i•h g•n•r41•d from finn¢lng i¢llvltl•• N•t In¢Y•ulld•¢Y••••) In u•h •nd u•h •qulval•nts 325.163 {39,3391 Cash and caoh 6qufvant8 at begInn9 of year 104,038 Ci•h •nd c••h •qulval•nts •t •nd ofyur 389,882 64,699 Th• not•$ on 0•5 14 to 35 frJTh part ofthwi finanod stat•m•nts. 13-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity inforrnation Arbroath and District Church ol Scolland is a gIStered Scoth"sh Charity ISCLW821. The prinapa address of the charity is Keptie Street, Arbroath. DD113AZ. 1.1 Accounting convention The finanaal statements have been prepared in accordance with the church's goveming document, the Charities and Trustee Investment Iscollandl Act 2005. the Charities Accounts (Scotlandl Regulations 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities. Ststement of Recommended Pr8Ctice applicable lo ch8rities preparing their awounts in aGwrdance with the Finanual Reporting Standard applicable in the UK and Rèpublic ol Ireland IFRS 1021". The churd) is a Public Benefit Entty as defined by FRS 102. The financial statements are prepared in sterting. is the fijnctional currency of the church. Monetary arnounts in these financial statements are rounded lo the neast £. The financial statements have been prepared under the historical st cOnventn. modified to include the revaluat)n of certain finan¢i81 instwuments al lair value. The prinrypal a¢untIng ptsli¢itrs adopl&J are set out below. 1.2 Golng eonc•m At the time of approving the fin8ntyal slatemenls, the trus*trS have a reasonable expectation th81 the churth ha3 8dequ8le resources lo ntInue in operational exislence for the foreseeable fvlure. Thus Ihtr INslee$ continue to adopt th¢ 90ing ¢on¢em basi$ of a¢¢ounlin9 In preparing the finanoal statements. 1.3 Charltable fund$ Unrestricted funds are available for use at the dIslI0n of the trustees in furtherance of their charitable objectives. Restdcted funds are subject to speafic condrtions by donors or g(antors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financAal statements. Endowment lunds are subject to specthc condrtions by donors that the capital must be maintained by the church. 1A In¢ome Income is cOgnised when the church is legalty enlitled to it after any perfom7ance conditions have been met. the amounts can be rneasured reliabty. and it is probable thal income wll be received. Cash donations are recognised on receipt. Other donations a recognised once the church has been nots'fied of the donation. unless perfomance conditions require deferral of the amount. Income tax recoverable in rela¢ion to dona¢ions recewed under Grf¢A or deeds of co¥enanl is iecognised at Ihe Urlle of the donation. Legacies a recognised on receipt or otherwise if the church has been nolffied of an impending distribution. the amount is known, and receipl is expecte(l. If the amounl is not known, the legacy 15 treated as a ontingent asset. Grants. including govemment grants are recniSed in the Statement of Financial Activities when the charity has enlrtlement to the funds. it is probable thal Ihe income will be received. and the amount can be measured reliably. Mthere grants are restrided to 5peryfic purp95es. they are credited to 8 restricted fund and reoognised in accordance with the tems of the grant. Income from the rental of thurrh halts and olher premises is recognised in the Staternent of Financial Actwthe5 when the rent81 services are provided. and the income is ieceN8bk. 14-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢oundng poll¢l•• Icontlnuodl 1.6 Exp•ndltur• Exp8ndiluTe is recognised once there is a 31 or con8lruclNe obb'9atn lo transfer economic benefit lo th¥d poty, it 1$ prob•blg th81 • transfgr of ¢tioN¢ b•nsfits wll bo rutrI1 in selU8monl. and lh• •mount of th• obllgation can b• m•asuf•d reliabty. Gwmanc• ¢osts 8r• defin 48 in IM wvwnanc of th• clwrlty and it6 o)mOan¢• wtth $tstutory r8qulr¢mènts. Th¢s• Consist scwy of audit & Indèp•ndt oxamlnation f¢•s. In thè prfor yèar, support costs were presented separatety. From Ihe cjjnenl year, they are induded wilhn their natural expense categories. ComparatNe fjgur88 hav8 been re8tatod to roll8ct this chango in polcy. 1.8 T•ngllA• flx•d •••ts Tangible fixed Bssels are initialty measured at cost and subsequenty moasured al cost or valuation, nel of doprecialion and any imp8imwnt bsse8. Ats ar ¢8prtatstd when th• i)dr¥idual £l.CO). Iltrms ¢ngle$S th•n £1.(h)0 or• treotod 4$ xpnd6tw• in th• y••r ol pur¢h86•. Oeprwotjn is recognited 80 ai to write off the ct or valuation of 4s8ets less their residual value8 over their u8•fv1 IIv¢$ on tho ft41trAng ba. Freehold buildirvJ• L•8sehokl Improv•m•nts Fixlures and fitling8 Equipment No depre(4atk 10 ytsats straffjht IM) 5 year3 8trabJht line S years Sht lino Th• galn or So$$ arfslng on of an •$s•t 6$ det•rrth•d dIffn b•In th• 101• pr•d1 •nd the ¢arylng vabje olth• 4$8•t, and 1$ r•¢ryrls•d In lh• $t8t¥m•nt of finano•l Act1111$. Th• bu1)Ing9 h¥v• not be d•we¢lot¢d, 48 th• Tru$ts•$ bd•¥• ihelr rnwdual ¥•0 rfll ex th•lr n•t book value, primarity due to •xt•nsive mainl•nae and upk••p. Cèrtain propèrties hav• t••n rocognliod at PO8tsy•ar•nd 8810 v8bJ•s, which support th• Tw$t••s' vifrw that no d•preciab"on 1$ nl88ry. Oth•r propertk86 have been ¥abJed by the Trustees based on factors such as slze, Ixation, and market actlvty, including recent sales of properties currenty Isted lor s simlar characterislics. The ¢hur¢h has the rfght lo cttupy and use for ts Chantsb obje¢ts crt8in tsngit48 fixed assets, Indudlng the ¢hur¢h, halli ond manse, vÈ$ted in lh¢ Chur¢h of Scolbnd G•ner•l Tru$te¢$. No ¢on$id0f•ln 1$ p•yoblo for th• us• ofthes• #ss•ts. Exp•nditur• incurr•d on Ihè and maint•n8nc• of th•s• a$$ets 1$ ¢4ry•8 9$ expendltur• in Ihe Statement of Fin8naalAclNib'68 li th& penod In whth tha hobilty aris. 1.7 Flx•d I$t Inv••tm•nts Investrnents in the Church of Scolland Unié Twsts we measured at the bidloffer wice deternined by the Churth of Scorfand al Ihe year end. Invèstments hald in invèskngnt porffolo$ ¥? at th•ir martet Value 8$ provthd by lh• inwtment managers at the year end. 1.8 knpalmi•nt of flM•d #••ts At each reportlng end date, the chwth re¥lews the canWThJ affUnts of tts langib* a56ets to deteThnlne vthelher there is any indicaknn that those assets have suffered an impairnenl loss. If any such indrabon eyis18, the r0Verable amount of th? a&sgt is estimated in order lo deterynine the extent of the wnpairment ss lif any). 15-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 A¢coun¢ing policies (Continuedl 1.9 Cash and cash equlvalents Cash and cash equivalents indude cash in hand. deposits held al ¢811 with banks. other 5hort-teirn liquid inve5trnents wth original maturities of Ihreg m¢)nlhs or less, and bank oveidiafts. Bank overdrafts are shown wbthin borrowings In current liabilrties. 1.10 Flnanclal Instruments The church ha5 eleded to appty the provisions of Sedion 11 'Basic Finanryal Instruments. and Section 12 'Other Finanaal InstNments Issues. of FRS 102 to all of its finanaal instwmenls. Financial instruments are recognised in the churth's balance sheet when the church becomes paty to the contractual provisions of the instrument. Flnancial assets and liabilit5 are offstrt, wilh the nel amounts presented in Ihe financial stslements, wh8n there is a legally enforceable nght to set off Ihè rè¢ognised amounts and ther& 1$ an intention lo settle on a nel basls or to realise the asset and se¢Ye the liability $imuNaneou$ty. Basic financial assets Basic fin8n¢ial assets, whth #idude doblors and ¢ash and bank balances, aw initially measured at transaction price including transaction costs and are sUbqUentty CArried at amortis¢d ¢ost using the effective interest method unless the arrangement constilules a finanung transaction. where the transaction is measured at the present value of the lulure receipts discounted at a market rate of interest. Finanaal assets classified as receivable within one year ale not amortised. Baslc finonclal Ilabillties Basic finanual liabilities. including credrtors and bank klans are Initial recognised at transaction price unless the arrangement constilules a financing transaction. where the debt instrument is measured al the psent value ol the future payments discounted al a market rale ol intefe61. Finanrial liabilitie6 classified as payable wrthin one year are not amortlsed. Debt Instrumènts ¥re subsequèntty carried at amorti$ed ¢o$t. usin9 the tctly• interest rate m•thod. Trade creditors a obligations to pay for goods or services that have been aCqUid in the ordinary course of operations from suppliers. Amounts payable are classffied as current liabililies il payment is due within one year or less. 11 nol. they are presented as non-current liabiliues. Trade creditors are recogni5ed initially at Ir8ns8clion price and subsequentty measured at arTr)rtised cost using the effeclNe interesl rnethod. Dv•¢ognitiOn of financial liabilities Financial liabilitie5 are derecognised when the thurth's contractual obligation5 expire or are discharged or cancelled. 1.11 Ernployee benefits The cost ol any unused holiday entrflement is recognised in the period in vthich the employee's Ser¥e$ are received. Terrnin8tion beneffits are recognised immediatety as an expense b¥hen the chur¢h 1$ demonstrably ¢ommrtted to temiinate the employment of an employee or to provwje lemiinats.on beneffts. 1.12 Retlrement benefits Payments to deffined contribution retirement benefft sthernes are charged as an expense as they fall due. 16-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 c1¢11 accountlng •otlrn•t•s and d9•Ments In the application of Ihe thuTch'¥ accounling polrAe8. the tru8tee8 required to make iudg8mert8, e8timal88 and assumpllons ab)ut thè carrying amount ol assèts and tha..•S that not rèadty apparènt from othèr sour¢•s. Th $bmal•$ and a$watd assumptions ar• basd on hi$torKal xp•rn¢ and o¢h•r fa¢lor$ that •re ¢on$ider¢d to be rek¥anLA¢tU81 resuh may dffler from Ihex eslrntes. The esllmates and undertylng assumplhjns are re¥led on an ongolng basls. RevIOn8 to accounllng estimates are recogni8ed in the per1 in whth the estimale is mised where the revision affects that p8riod, OT in the perh?d of the rewsM)n and ftjture period8 where the r8vision afvcts both Crrent and fvture peilod$. K•y •oureM of ••tlmatlon un¢•rtlnty D•prnclatlon D•prwalion 1$ con?ider¢d 8 key accountsn9 ?¥timaltr, rnquiiing judgment in asstr$iing thtr u¥ofv1 •¢onomi¢ ve6 and re8idug1 values ol tsngiblo fixed a88ots. These •stsmat•8 are basad on Ihe intended of th• assels In delN8ring Ihe charity's acii¥rties. hlstOriC818xperience, and industry nomis. Th• d&preclatlon charge Is reviewed annudty, and any chanw In asSumptn$ COU lead to materlal aUStMents in Ihe fflnanclal 8ts1ements. Property ¥•lu•ilon As part ol the union of Multip cOngwatn3 during the year, the charity assumed re3ponstJdty for a number of propeths lincbjding thurch hals and a man8el whth had not preOu3ty been re¢>)gni8ed on any balance sheet. Ahhough the Church ol Scodand retains thvnersh of churth buIng$. these addrtlonal properlle6 w•r conflnmd •8 belng Ixalty ¥•$l•d ond hov• tr•r•for& be•n rwnimd In the finoftty81 $l¥tsm&nts for the fir81 lim. In the 8b8•nc• of fomal v8luaUon8. th• trust have appll8d dg•man1 In 08llmatlng tha falr vtha ol th080 propert$ for Induon in the fixed asset register. These estimates We based on a range of lactors, induding property size. kjcation. recent market activty. cond'0n. and indicative s price6 for comparable buildings. The trustees considered th18 appToach to be reasonabk and pfoportknnate. gfven the nalure and use of the aMets and the cost of obtaining profe3•K>1 valuption& The vaa0n ofth• prort*S r•prn••nts • $lgnffl¢•nt of •8tlmallon And ludg•m8nt wlthln lh• Ilnand81 slalem8nts. In¢om• fvorn doMtJon• and logacl UN••trl¢t•d R••trl¢t•d fvnd• fund• 2024 2024 Totsl Unrn•trl¢t•d RtrICI•d fvnd• fund• 2Q23 2023 T¢)tsl 2024 2023 Donation3 and Legacjes Grants 248.268 7.967 171.162 8.W21 255.189 7.967 209.632 80.938 80,938 38.470 425.397 47.391 472.788 80.938 80,938 17-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Income from donalion¥ and le9acies (Continuedl Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Don•tlon¥ •nd glfts Offerings Gift Aid Ed Low Memorial Trust 196.546 45,233 4.489 8,921 205.467 45.233 4.489 65.229 11,807 3.902 65,229 11,807 3.902 246.268 8,921 255.189 80.938 80,938 Grant8 Church of Scotland Angus Council Perth Presbytery Hill¢rest Foundation The Duncan Trust Scottish Govemm&nl 162,846 2,OCIJ 162.846 27.470 8.000 5,000 3.432 2.884 25.470 8,000 3.432 2,884 171,182 38,470 209.632 Church of S¢oll¥nd gf¥nl$ re¢eNeJ during the y¥ar r&l•l& pr¢dominanty to fund$ r&¢l8im&d from the Central Fabric Fund. These funds are eamarked for use by Aroath and Oistrict Church ol Scotland but ar& h81d centrally and controlled by the Church of Scotland unts"l eligible repair woths are completed. As the charity does not hold or control these funds. ihey are not included in the balance sheet. fvstead, they are recognised as income when reimburserrent is confied and received. typicalty in arrears of the related expendilure. 18-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Income from charitsble activitres Rellglous actlvltles 2024 Rellglous actlvltles 2023 Groups, clubs & communty acb"vth"es Weddings & lunerals 20,182 3,900 11,800 835 24,082 12,635 Analysls by fund Unrestricted lunds Restricted funds 23,012 1.070 8,764 3,871 24.082 12.635 In¢om• from oth•r tradlng o¢tlvlll•s Unrn•trlet•d R•strlet•d lund¥ funds 2024 2024 Total Unr•strteted Ré•trlct•d fund8 fund8 2023 2023 Total 2024 2023 Use of preml$e$ 84,578 5.330 5,330 Trading income primarity comprises renlal in¢ome from thur¢h halls. 11 also indudes in¢om¥ from tt)¥ rental of 91gbe$, in¢ome related lo $olar panel installatsons, and tho rontal of surplus man$e$. 19-
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ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Expenditure on charitable activities Religious activitles Religious activities 2024 2023 118 re8tated Dlrect costs Stsff costs Depreciation and irnpaimient Ministry costs Church organisations Premises costs Other charitable activrties 103,203 11,129 268,195 6,2 225,400 24.838 20,615 9,985 69,332 4.048 39,885 8.195 639,667 152,060 Sharè of 8LlPPOrt and gov•mane• eo8t818•• not• 101 Governance 15,LKJO 654.667 152,660 Anoly$l$ by fvnd Unrestricted funds Restrictèd funds 579,826 74,841 143,816 9,044 654,667 152,660 Pré8•ntstlon of éxp•ndlturè In the year en¢Jed 31 Dec 2024, the Church revised the policy for the pSentatiOn of support costs to Include them within theii natural expense categories. rathei than disclosing them separatety. Comparative figures for Ihe year ended 31 Dec 2023 have been $tated to reffecl this change. This restatement has no irnpact on lolal expendrlure or the net movement in ftjnds for the prior year. It is a change in pre8ent8tion, m8d8 onty lo improve the darity and nsisten¢Y of the financial statem8nl8. 10 Support eost8 alloeat•d to aeiiviti•s 2024 2023 •¥ re#tated Govèmance costs 15,000 600 2024 2023 Govemance costs comprfse: Audit & independenl examination fees 15.000 600 15.000 600
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 10 Support ¢o¥ts allocated to a¢tivitie¥ (Continuedl Charitable expen¢Jiture is set out in Note 9. The comparab.ve figu$ for the year ended 31 December 2023 have been restated to reflect a change in accounting policy regarding the presentation of support costs. Further details are provided in Note 9. 11 Net rnovgment in funds 2024 2023 The nel movement in is slaleil after ¢h8rgingllrJe(libngl= Fees payable for the audit of the charity's fjnancial slatements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 15,000 11.129 115,645 9,985 12 Tru8t• During the year, the Church met costs totslling £19.11912023.' £3.5501 in relation to the minister. These ¢ompristd'. Manse-related expenses of £14.20512023.' £3.5501. Including council tax. utilities, and tèlecoms. Thé increase in manse costs reflects the holding ol additional manses following the union. Travel costs of £4,914 12023.. £nill. incurred in ojnnectson with the minister's duties. During the year, Iruslee$ donated a total 01 £43.719 to lh& Churth12023." £16,450). Th& in¢r&a$e is due lo the union, with this yèar's total rèflèctin9 donations from Iwslèes acros$ the newly unitèd Church. Th¥ comparative figure indudes onty donations made wrthin Arbroath West Kirk Church ol Scotland. During the year, the Church enlered inlo the follwng related party tr8ns8ctions'. Two individuals served as both Tmstèes and employees. One rèsigned as Trusteè in May 2024 but remained employed. The daughter of a Trustee (who stepped down In April 20241 was employed as 8 Church Administrator. The Trustee did not participale in decisions about her appointment or pay. A Truslee employed by the Church of Scotland seryed as Children & Farnily Worker for Arbroath and District Church of Scotland. During the year. a contribulion of £16.409.61 wa5 paid directly to the Church ol Scotland towards this Truslee's salary", no payments were m8de diiecty to the Ttustee. All remuneration and contribulh)ns were made in respect of employment services only and not for setvices perfomed as Trustees. These arrangements were conducted on normal commercial tem)s and wrth appropriate approval and oversight. Totsl related party remunerats'on and benefits paid during Ihe year. including gross salary. empl¢)yer pension. employer NIC, and payments to Ihird parlies. amounted to £52,330. These individuals were not employed by, nor held trvstee posth.ons in, Aroath West rk Church of Scotland in the year ended 2023,. accordingty, comparative inforniation has not been presented. -23-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 12 Tru¥te (Continuedl All Church of Scolland congregations wnlribule lo the Nabonal Slipend Fund. which bears the cost of all rninisters, stipends and employer contributy'ons for Nalional Insurance. pensions. housing. and loan frjnds. Ministers, sb'pends are paid in 8ccordance with the national sty'pend scale. which is related to years of service. For the year under review, the minimum sbpend was £31,642 12023. £30,1351, and the maximum stipend in the fifth and subsequent years of seNice was £38.88412023". £37.0321. 13 Employees The average monthty number of employees during the year was: 2024 Number 2023 Number Music staff Prernises Maintenance S8cretarial staff Other staff Total 12 Employment costs 2024 2023 Wages and salaries Other pen$ion ¢o$l$ 100,643 2,560 20,198 417 103,203 20,615 The average monthty headcount for the year is reported as 12. This figure fleCt$ 4 staff members employed prior to the union of congregations, and 14 staff rneMbe employed thereafter. The average is thefOre slightly lower than the current staffing level. Wh has remained at 14 since the unlon. There were no ernployees whose annual remuneTation was more than £60,IXIO. 14 Other expendlture Unrèstriet•d Unrèstriet•d funds funds 2024 2023 Net loss on disposal oltangible fixed assets 115,645 -24-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 14 Other gxpgnditure (Continuedl The net loss of £115.645 relates to the wrrte-off of tangible fixed assets lo#owing the union of congregations. These assets primarity comprised tenanys improvements to church buildings owned by the Church of Scotland. As the charity did not hold legal lrtle to these properties and the irnprovements could not be relocated. their carrying value was fulty wrilten off. In addrtion. a number of low-value assets no longer in use weFe a150 written off during the penod. -25-
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ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 16 Taxation The chanty is exempt from tsxation on its activibes bause all rts income is appld for charitsble purposes. 17 Tanglblè Ilxèd assèts Frnohoh1 Loa8ohohJ Fixiurt8 and ng$ Equlpmant Total Ct At 1 January 2024 Additions Business combinaln8 18.812 21,128 39,940 75,535 692,000 44,125 692.OCKJ 31,410 At 31 December 2024 736.125 31.410 18.812 21.128 807,475 D•pr•elatlon and Impalmi•nt At 1 January 2024 Depreciabon charged in the year 4,703 3.762 5,282 4.226 9,985 11.129 3.141 Al 31 De¢ember 2024 3,141 8.465 9,508 21,114 Carrylng amount At 31 December 2024 736.125 28.269 10.347 11.620 786,361 At 31 December 2023 14.109 15.846 29.955 During the year, addits'ons to tangible ffixed assets totslling £692.ol were recognised in respect of church halls and rnanses acquired through Ihe union. As part of thè assèt rèvièw and consol3110 procè$$, a detailed assèssment of propèrty ownership and vésting arrangements was undertaken. This resulted in several adjustments to the fixed asset register, as outlined below". A building which was previousty included in the fixed asset gIster of one of the legacy congregations. was found to be vested in Ihe General Trustees of the Church of Scotland and not under Ihe Ioc81 congregalion's ¢x)nlrol. As such. this 8sset was derecognised. Conversety, certain properties - comprising manses and church halls were identified during the review as being local vested in the Arbroath and Distnct Church of Scodand conggation, despite not having been COgnised on any of the legacy conggatiOns. fixed asset registers. These assets have now been recognised as additions. vmh corresponding amendments to the donated value of the legacy church reserves. These adjustments flect the accurate posrtion of property holdings under lo(xl trusteeship and ensure the rLxed asset register properly preSentS the buildings vested in the local congregation. -27-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Flxod a•s•t Imi•8trn•nts U8t•d Unll8t•d Imi••tm•nts Inv••tm•nts Total Colt or valu•tSon Al l January 2024 Addition8 Vabjatlon ¢hanges Inv?strnenl manao•r f• Union acquisitions Dlsposals 170,016 36.246 47,7es 12,7541 495.217 138,2481 131,098 301,114 36,246 80,932 12,7541 928,834 {38,2481 33,167 433,817 At 31 DMl 2024 708,242 597,882 1,306,124 C•rrylng •mount Al 31 DIrnr 2024 708,242 597,882 1,306,124 At 31 DIrnber 2023 170.016 131.098 301,114 A8 al 31 DIrnbo1 2024, lh• hlstori¢o1 ¢o$l olfrA•d oSS•t knV•$tMW w¥s £789,173 {2023'. £256.431). The trusteei conslder indRIu81 h(4dings In exc8 01 5% of the PLviofth vabje to bo material. t•rf•l Int•rn•ts by v*lu•: 2023 BNY MELLON GLB FDS BNY MELLON US EQ INC E GBP OODGE & COX WORLDWIDE US STOCK GBP INC FTF CLEARBRIDGE US EQ INC EB INC NATiXIS INV FDS LOOMIS SAYLES US EQTY LDRS QAACC IFSL EVENLODE INCOME D INC 11,412 8,850 7,7C 11.449 10.2S7 8,759 -28-
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Flx•d •Mt Iffti••trn•nt¥ Icontlnuodl Inv••tm•nt rf•k• FRS 102 requires Ihe d()e of informalion in rtion to rtain Investment risks. These risks are sel oul by FRS 102 a8 fol¢yw8'. Crndrt rf$k.' Ihls Is th• rtsk Ihat onè paty to a In$trumgnt VAI Cau a fflnan¢fial for th& Qthof paty by lailing to disch•rge •n oLli9abon. Market rf8k.' this c¢ryrt8es currency ii8k. interest rate rt8k and other pfu ri8L CurTency risk.. thi8 is Ihe risk that tht lair vabA or fu# ts8hfrJw8 of a finanoal a8ltl wil thduattr because ol th• ¢h8ng•s in m8rk•t inler¢$t ral•s. Interest fate risk.. thi8 is Ihe rlsk that th8 laSr vakn of fvtur• c•shlv4¥8 of a finar+dal asset wlll fluctuate bause of changes in mark•t intorest rntss. The Church has exposure to these ri•ks becau of the In¥tMentS it m&kns to IMPrnent Investment Strategy. The Iruslee8 manage investrnent ri8k3. incJding credrt risk and market risk. wthin agreed risk hmits vthi¢h ore s•t tsn9 Into a¢¢ounl$ th• Trusf$ $trat89 inv&6tmnt obj¥¢tive$. Th$ In&1m0nt oble¢b've6 and rf$k Ilmtt$ arg Imphmèntgd through tht In$1Mnt mana9•r agr8mnt$ In pla¢4 wlth the Chur¢h'6 Investment managers and monitoret1 by the Trustees by regular reviews ofthe investment portlolos. Curr•ncy rf•k The Church * 8ubje¢i lo currency ri3k because 5omtr of tho Chur¢h'$ invtrstrnent8 arè helj in )r0e85 mork•l$ the po¢4ed In¥¥8tm•nt hth$. At th• y••( •nd. t Chur¢h'8 •xpo$ur• to fvnd8 Inv•$tlng In OV•lS•88 wurn*$ wa$ £134.11912023'. £124,34n. Int•rn•t rnt• rfBk The charity is iubject lo inkresl rate risk through inveslments coryri$ing bonds. Al the year end th• Church's expo8ure to fvnd8 Inveing in bondj w•1 £43,54312023: £32,768). Olh•r prte• rknk Other pri rtsk ariges prinapaly in relatKJn to equrfm hdd in poc4ed vehthB. The Church rnanoges this e4)08ure to other Plica ri6k by conslructs'ng a dTSe wjrtfdio of investments acr066 various markets. At the year end Ihe fvnds exp05uTe lo these fvnds was £3C(1,298 {2023.' £12.W11. 19 D•btor• 2024 2023 Amounts fallno du• wllhln on• y•ar. Trat1e debtors Olher deblorn 5,402 73,214 4,9 78,816 4,936
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 20 Creditors.. amounts falling due within one year 2024 2023 Trade creditor Other credrtors Accruals and delerred income 2.878 2.241 24,721 1,784 1,650 29,840 3,434 During the year, the congregation acled as a cuslodian trustee lor collecth)ns made on behalf ol third-party charities and organisalions. These amounts a not considered incorne of the congregation and are held temporarily under'other creditors. unb'l they are passed on to Ihe inlended recipients. A8 3131 Dtseember 2024. the lotsl 8rTh)unl held on beh811 of others w8$ £2,241 12023.. £nill, relating lo collections lor Chnstian Aid, The Salvation Amiy, and various other charitable causes. While these funds are held within the congregatson'$ main bank account, they ale dearty identified in the a¢¢ounting records and will be remrtted prompty. 21 Retlrem•nl benefit Schem 2024 2023 Oellned contrfbutlon •cheme• Charge lo profft or los$ In Spect of a&fined contribution s¢h*m•s 2,560 417 The church operates a defined Contribution pension scheme for all qualifying employees. The assets ol the scheme are hèld s8P8ral8ty from those of the ¢hur¢h in an independentty administefed fund.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 22 Restricted funds The restricted funds of the charity wrnprise the unexpended balances of donations 8nd gr8nts hekl on twsl subject to specific ¢A)ndttions by donor5 as tr) how they may used. At 1 Ineomlng R•soure•s January resources expended 2024 Transf•r8 Galns and At31 losses Deeember 2024 Audio & Muslc Flower Fund Fabric Fund Havilah Fun. Food & Friendship Mental Health Holiday Meals Ministry Fund Overse85 Mission 42.225 12621 889 42,852 179 1179 152.827 77.954 115.720) 138.0291 16001 1461 5,685 142,792 39,925 2.291 772 114 41,793 20,430 2.611 818 61.S24 20.430 120,622) 891 2,79) 356.172 175.279) 11791 7,465 290,969 Prevlou• year: At 1 Incomlng ReJourcg¥ Trnn¥fvr4 Galnj and A131 Januory OUr¢ 0xNd+d los$&s Do¢•mbtr 2023 2023 Fl¢)wer Fund Fun, Food & Friendship Stlpènd Funa 404 5,267 12251 {6.5271 {2.292} 179 2,611 3.871 2.292 5,671 6.163 {9.044} 2,790 Mu8lc Fund." For the maintenance and upkeep of the organ in Inverkeilor Church and for the malntenance and provision of music resources in St Vigeans Church. Fabrfc Fund.. For the fabric. maintenance and building projects associated with the church property at St Vigeans and at St Andrew's lJean Scolt Fund). Havilah.. To support individuals who are vulnerable adults. Fun. Food & Friendship= To piovide Gomrnunrty meals and a welcoming spacè. Mental Health: To provide support for adults mental heatth issues. Overseas Mlsslon: To support and build relationships wth overseas partners. Hollday Meals.. Provision of meals for chIldn dunng school holaY outreach activities. Ministry Team Fund.. To support staffing ofthe ministry team. The transfer of £179 Irom $triCted reserves represents the claSsIfica.0n of the Flower Fund from 8 restricted Serve to a designated reserve. 31
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 23 Unrestricted funds The unrestricted fijnds of the tharity comwise the unexpende(I balances of donations and grdnts which are not subject to specific conditions by donors and 9rantots as to how they may be used. These include designated fijnds which have been set aside out of unrestrided fijnds by the trustees for specific purposes. At 1 January Incomlng Resources Transfers Galns and At31 2024 resources expended losses December 2024 Flower Fund Youth Fund Guild Fund Audio & Muslc Fund Fabric Fund Benevolent Fund Reserve Fund Capital Fund General Fund8 5.413 18,568 5.728 21,219 319.828 40,149 74,395 179 274 5,866 17,070 4.353 21,302 191.970 40,541 72,001 21,967 55,053 1.604,790 1,775 1.185 13,2731 12,5601 11401 1137,8881 11661 12,6341 17.9881 1544,9701 223 10.030 558 240 29.955 191,549 1.933,142 170,016 224,464 2.418,442 1899,8191 170,195 86,378 2.179,860 Pr¢vlou$ y•r: At 1 Jonuary In¢omln9 R•sourc•• Tr•n•f•rn G•ln$ and At31 2023 r••our¢M $xn• lo$$$ Doe•mb8r 2023 Capital Fund Guild Fund Youth Fund General Fund3 38,681 1.037 1,834 213.933 19,9851 12,1021 11,9461 1129.5831 1,259 29,955 1.185 1,775 191.549 2.250 1,887 100.575 6.624 255.485 104.712 1143.6161 7.883 224,464 Flowor Fund. To provide flowers for Ihe church and church communrty. Youth Fund: To support the funding and running of children and youth activities in church, in school and the wider communty. Gulld Fund: To provide for Ihe activities and wnning ol the Guild. Au(Ilo & Muslc.. For the mainlenance of and projecls associated wilh sound and music provision in worship. Fabric Fund.. Maintenance of churth properfie5. Benevolent.. To relieve haidship and need within the COrnTnunty. Reserve.. To provide for unforeseen expenses of a general nature. Capltal Fund: Fixed Assets listed in the accounts and depreuated in fine wth accounting poliaes each year. The transfer of £179 to designated reserves represenls the reclassification of the Flower Fund from a restricted reserve to a designated reserve.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Endovnnent funds These are expend8ble endowrnent funds which are material to the church's actryrb'es. At 1 Ineomlng Rèsoureès Transfèr8 Galns and At31 January r•sourc•$ èxpendèd losses Dèeember 2024 2024 Tom Artken 8eqtJest st Vigeans Charitable Trust Mary Salmond 8equest 170,016 1170,0161 789 57.434 12621 2,967 16341 3.494 56,800 170.016 58.223 12821 1170.0161 2,333 60,294 Prnvlou8 y•ar: At 1 Ineomlng R•8oure•s Tran•f•Y8 Galns and At31 January rnsoure•s •xp•nd•d 1088•8 December 2023 2023 Tom Aitken Bequest 164.183 12.5581 8,391 170,018 Tom Altken Boqu•8t This legacy was received from the lale Mrs Kathleen Patullo in mernory of her lather. Tom Aitken. and was intended to be used at the discrelion of Ihe Kirk Session ol the fomier St Margaret's Church (now part of Arbroalh and Oi$tri¢l Chur¢h of S¢oii8ndl. The legacy had previousty been das$ifi&d as an endowment due lo its inv6stment $t8tus". howèver. it has since bèen rèwewed and dèièminèd to be an unrestrictèd lÈ98cy. As such, th8 fund has beèn rel6as8d to gen•ral lunds for usè in accordan wrth tha original intention. St Vlgeans Charttable Trust To relieve hardship and need within the MMUnty al the diScli0n ofthe Minisiry Team. Mary Salrnond Beqye¥t This fund was established to support stipend costs, with incomè historicalty allocated to the Ministry Te8m Fund. The income shown in the cuffent year does not repsent new Income eamed but rather reflects the transfer of the fund from the fomier congregation into the newty merged Arbroath and District Church of Scotland.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Total fund• fund fund• 2024 At J1 D•e•mb•r 2021: Tory1b assets 21,7 788,361 1.308,124 438.838 1245.246 170.220 602$¢ Curr1 as8•WIIAW1} 288.418 2.179. 60294 2W.989 2131.123 Total fund• furn fund• 2023 At 31 O•e•mb•r 202>: Tar¥lbk a88•ts 131,098 170.018 301.114 e6.201 2.790 224.464 170.018 2.790 397270 . Th• at Grnrnpn Gardw . hmithlor chu Hal Both properU•s sokl for rnnts kn •x(xss of th8lr n•t Th0k vahkrys. As the dIs$ orgxrrpd aftw the fmanual year they not been rnlle(tsJ in the financiul stslements fortlw year. The on dli• and Mlg pvu(xedB wll be ll80d In thB next aUnI9 Th•r• 1• no di8doMbl8 tl p•ty tr•¢$ durin9 th• yr 12tr23. nrffj•l oul tr•ns•d•)n8 v•ilh IN8t8eB. dlBdrAed TAilhin nots 12. 28 11)luntwrn In oth•r of th• of So)Il•TrJ tm b08 from th• conlribution rTMde ty vClteeTr Tfvtho gr4 Iheir time arKI talents vAlwily for the efft of the ChJrE*. The areas of congregational Ife tlthhth roty Iffl tho o)ntrknth of ¥ohJnteer5 are many and varted and muth ofth8 ath¥lty bo unaL4•to (#)ntknu•w8rn l rntfor the c4ymmllm8ntshLTr.
ARBROATH AND DISTRICT CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 29 Cash generated fromllabsortjed by) operations 2024 2023 Surpluslldeficitl for the year 1,203,017 128,0691 Adjustments for.. Investment Income recognised in slalement of finanual ath"vitses Loss on dispos81 of t8ngible fixed assets Fair value gains and losses on investments Depre¢i8bon 8nd impairment oftsngible ffixed assets 148,4381 115.645 176,1761 11.129 111,9721 116,2741 9,985 Movèm•nts In worklng capltal.. Ilncrea5elldecrease in debtors Increaselldecreasel in creditors 173.6801 28.406 1.345 15,0671 Cash generated froml1ab8ortd by) op•ratlon8 1.157.903 150,0521 30 Analy•l• ol ehangé8 In nèt fvnds The ¢hur¢h had no material dtsbl during the year. 31 Non4udlt 8•rvlc•• provld•d by audltor Consistent with other entities of similar size and nature, and in accordance vh the PAASE proVisn$, the church has engaged (he auditor to assist in the preparation of the finanrjal statements.
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