ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
CONGREGATION NUMBER: 311906
SCOTTISH CHARITY NUMBER: SC008157
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
MHA
CHARTERED ACCOUNTANTS
12 CARDEN PLACE
ABERDEEN
AB10 1UR

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
CONTENTS
Page
Trustees, report (including reference and administrative infomiation)
Independent examiner's report
Slalement of financial a¢livits'es incorporating income and expenditure account
Balance sheet
ststement of ¢ash flows
Notes and accounting policies
12.23

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial $lalemenls lor the year ended 31 DecÈmbei 2024.
The financial statements have been prepared in accordance with the 3ccounling policies sel out in note 1 to the financial
stalements and comply with the charity's Article5 and Memorandum of Association, the Gharities and Trustee Investment
(Scollandl Act 2005. the Charities Accounts (Scollandl Regulations 2006 las amended) and 'Accounting and Reportir*g by
Charitieg.. Slalement of Recommentled Practice applicable to eharities preparing their accounts in accordance with the
Financial Reporting Standard applieable in Ihe UK and Republic of I￿land IFRS 1021. las amended for accounting period5
commencing from 1 January 20191.
ObJ¢ctiYes and activitios
The Church of Scotland 1$ Trinitsrian in doctrine. Reformed in tradition and P￿SbYteriart in polity. It exists to glorify God and
lo work for the advancement of Chrisys Kingdom throughout the world. As a national Church, it acknowledges a distinctive
call and duty lo bring the ordinances of religion to the people in every parish of Scotland through a territorial ministry. It CO•
operates with other Churches in various e¢urnenl¢al bodies in Scouand and beyond.
A¢hlevements and Pèrformance
The church's main purpose is to lead worshlp. Weekly services are held every Sunday. wllh the morning service al 11 am
conllnuing lo attract COng￿98t10nS in excess of one hundred. Communion is served on the last Sunday of each month, and
on Easter Sunday, Pentecost and Christmas Day.
Evenlng seNices are held at 6pm. It attracts a smaller eongregation and is more contemplatwe service, where Communion is
Usually served.
All servi¢es are normally Conducted by our Minister,
been fortunate lo have the w¢lling support of several gi
of thls place.
During her annual leave or other absences, we have
d preachers who are either members ol the congregats'on or friends
In addition to the weekly services, worship is held lo mark spectfic dales in the Chrlsllan calendar. or lo mark public events.
Throughout Holy Week daily services are held, while al Chrislrnas. the Chrislingle Service. held early in the evenlng of
Christmas Eve, and the Service of Lessons and Carols at 1 Ipm are established featttres of our worship. In add¢tion, spe￿al
services are held regularly to maik public events.
During 2024 there were three weddings, iwo baptisms and nine funerals held in St Machals.
e continued during 2024 to respond to the needs of our expanded parish, followng the union in 2022 with St George's,
Tillydrone. The Kirk Session established a Congregational Lrfo Committee to take fowrd such issues as pastoral care, and
Christian Educaiion. Dunng the year classes for new communicants were held and a Bible Study Group now meets monthly.
The negotiations on the lease of the former St George's Church building continued throughout most of the year. Towards the
end of the year, however, these negotiations were brought to an abiupl hall by the pioduction of an updated survey whi¢h
Indicated that the condition ol the roDf had deteriorated lo such an exlenl that il was no longer safe to be used. And thal the
estimated ￿$1 of repairs made the whole project unfeasible. To the considerable disappointment of all concemed, but
particularly the community group who had planned to lake on the lease, vacant possession is now being obtained, and the
Church of Scouand General Trustees will offer the building for sale in 2025.
The Old Aberdeen Pwish GroL¢ping, set up under the Presbytery Mission Plan. and of which St Machar's is a part, ha$ not
established il$elf, as pftority has had to be given to questions of closure or union. At the end of the year, the Kirt( Session$ of
St Mary's King Street and Sl Machar's have been in discussion on the possibility of union. Thege discussions prcsved fruifful
and were given a note of urgency by a survey finding which indi¢aled that the St Mary's buildings were now unsafe to use. As
a result, a Basis of Union has been agreed between the Kirk Sessions and at the lime ol wrff(ing, the two congregations
are due to vote on the Union. If it goes ahead, it is likely that il ￿11 be completed this year.

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Music continues lo be Central lo our
the life of Sl Ma¢har'$. And 2024 saw a"changing of the Guard. In April.
ector of Music,
elireé, with Easter Sunday being his la51 service. He was replaced
as already a 'Weel kent face" among musicians and singers around Aberdeen, as a result of his
connection with the University Chapel Choir, and has led the choir and played organ through another busy and impressive
year. The choir continues to be augmented by the presence of eight Choral Scholars. They receive their funding support
thanks to a gcnerous legacy from a pr8vious Dire¢tor of Music. The result is that we have an outstanding choir, who perform
at least one anthem every morning service, and who $ing al special services and other occasions.
nd
St Machar's Continues lo be committed Its its Oulrea¢h programme. Ourtng the year we supported our two nominated charities,
Medecins Sans Fronlières and Big Noise Torry. the highlight belng a well attended Coffee Moming and Concert al whi¢h the
young people ol Big Noise Torry Showed their dev¢loping talents. We also Continued to collect food and cash for our Foodbank
partners, Instant Neighbour and the St Vincent de Paul Society, with collections al Harvest, Christmas and Lenl. And, as
always, we place great emphasi5 on chrisb.an Aid, marking Christian Aid Week in May with a mix of House Collections, Bread
and Cheese Lunches and the ever popular Plant Sale
At St Machar's we are always aware that while we are first and foremost a worshipping Church, we are many other Ihings as
well - a major tourist allraclion, a performance venue and a place of unique peace and beauty, We are proud of the fact that
we have been able to open every day of the year, and provide a welcome lo a variety of visitors from all over the world. Some
come looking to leam more ofthe history of the area, some to altend concerts 2nd some simply to enjoy the peace and beauty
of the building. They are all welcome and we seek lo provide tours and activities lo meet thelr needs.
In the context of visits, il is worth rnentioning the arrival in Aberdeen of Cruise ship5. Made p03sible by the development ol the
new hart)tsur, these ships have brought thousands of visitors to the North East and p￿sernted lourisl operators and visitor
attraction5 with a nurnber of opportunities.
The Education Officer, having led the A¢￿Vity Programrne dLtring the period of re¢onslru¢tion, 1$ continuing to host visits from
school parties, both primary and secondary. During 2024, 1524 pupils visited the Cathedral. In addition, the Education Officer
continues to work with project groups such as the Gardening Group, wtsrking in partnership with the City Council to promote
Bitsdiversity in the graveyard.
All of these aclivittes would not be possible without the enlhusiasb'c and loyal support of a large number of volunteer5 who are
on hand to help vvelcome visitors, to prepare malenals and to make the Cathedral able lo operate as a very popular place for
vi&lors, whatever they arts seeking. We are much in their debt.
Flnancial review
Net expenditure for the year before gains and losses on investments was £43.56412023 - £601,599 nel incornel. General
income amounted to £282,000 (2023 £954.660} and expenditure to £325,551 12023 - £317.6661, money given or promised
to the developmont progffmme amounied lo £113112023- £122,60811 while money expendèd upon It amounted to £nil12023
£12.7871.
Invostment pollcy and perfom)ance
The majoiily of the charity's investments are held in Chur¢h of Scotland Investors TrL+sI funds.
The Church of Scotland Investors Trust provides three funds for investors which offer a simple and economical medium for
the Investment of mr)nies. The charity has decided lo invest in two of the funds.. the Growth Fund and the Income Fund. The
Growth Fund 15 largely equity based and is intended for long-term inveslrnent. The fund 15 operated o>n a unitised ba$1$ and
aims to provide capital growLh. The Income Fund Is intended for rnedium-lerrn investment and aims to provide Immediate high
income wth fvnds invested predorninanlly In fjxed-lntefest securitses and operated on a unilised basls. Units in both fiJn¢s
¢an be purchased or sold monthly.

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Rlsk management
The Kirk Session is aware of ils responsibilities for the safeguardlng of the church's assets and re¢eives regular rep)rts, in the
form of management accounts. in order to identify any trends which might. if undetected, threaten the Stability of our financial
position. In particular, the following a￿a$ of risk have been Identified as priortlies lor action and these are sel out here with
the proposed miti9alion measures..
la) Structure of Building
The Cathedral is, as already slated, thè oldest occupied building in Aberdeen. Its maintenance and repair can on
occasions be very expensive and no contributions are received from Central or local govemmenl or any other exlemal
source. The KI￿ Session addresses this risk Ihrou9h the Fabrics Commlttee, which oversees an annual programme of
repair and renewal.
The major risks attaching lo the building fabric were Contained wlhin the contract for the refurbi$hmenl ofthe roof, stained
glass windows and Ceiling. Although the contract termination dale was some time ago. most trf the year was covered by
the Defects Liability period, during which the major contractors bore much of the risk for the integrity of the roof etc. But
no major problems were encoLsntered and the retention has now been released, wth the happy result that all expenditure
came within budget.
In addition, a sum of £19.133 was spent on routine repairs.
Ib) Former St George's Church Tillydrone
During the year, much effort was spent Sn trying to complete the lease of the fomier church building lo the Community
Group who wshed to run it for the benefit of the local community. Sadly, however, as is mentioned earlier in this report.
a survey revealed the need for very expensive repairs. Thi$ led lo the decision that the lease negotiations would have to
be abandoned, and the property sold on the open market. Al the lime of reporting, vacant posse$sion is being sought
from the prospective tenants, who had entry under a short tem let. Once that 1$ achieved, the General Trustees will
market the building and takeover responsibility for its interim maintenance and insurance.
Icl Voluntary Giving
Weekly giving by worshippers at Ihe Cathedral makes up over half of its annual income. 11 is important therefore that
giving levels a￿ maintsined and keep pace with inflation. To that end, the budget for 2024 and subsequent years wll
continue to be set at increased but achievable levels ond the Session will, Ihfough its Finance and Personnel Committee,
monitor very closely performance against budget and be Prepared to lake inib'alives lo increase levels of giving if
necessary. Such measures wtll include maximisation of drawdown of Gift Aid.
Idl Health and Safety
The Session receives and reviews updates on Health and Safety matters through its appointed Health and Safety Co-
ordinator.
{el General Data Prolecli()n Regulations
The Kirk Session continues lo consider and review duties In terms of the General Data Protection Regulations and in
Jaftuary 2023 reviewed and readopted ils Data Protection Poliey and Priva¢y Statement.
Ro$erve5 policy
At the end of the year the Church held Ltnreslri¢ted reserves of £933,136 {2023- £943,322).
The Church held restricted reserves of £810,10412023 - £765,195) which have been provided for the purpo8es specified in
Note 17 to the financial $lalemenls.

ST PIIACHAR'S CATHEDRAL PARISH CHURCH OF SGOTLAND ABERDEEN
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure. governance and managomenl
The congregation is a registered charity, number SC008157 and is administered in aceordance with the terms of the Model
Deed of Constitution Iunitary Foml. It is subject to the Acts an¢J Regulations of the General Assembly of the Church of
Scotland.
Members ol the Kirk Session are the charity Iruslees. The Kirk Session members are the elders ol the church and are chosen
from those members of the church who are considered lo have the appropriate gifts and skills. The minister, who is a mernber
ol the Kirk Session. is elected by the congregation and inducted by the Presbytery. Within the unitary framework, the Kirk
Session is responsible forthe management of the church's as5els and for spiritual matters within the church. The Kirk Session
meets al least eight times a year.
R$for¢nco and admlnlstrativa Information
Charity name".
Sl Machar's Cathedral Parish Church of ScotlaTrJ Aberdeen
Congregalion number..
311906
Charity registration number.
SC008157
Operattonal adL1ress'.
Cathedral Office
The Chanonry
Aberdeen
AB24 1RQ
Trustaos
Tru$lees. which include the principal offie8 bearers, who Served sincè 1 January 2024 were..
Kirk Session

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR EMDED 31 DECEMBER 2024
Independent Examingr
Bankgrs
Bank of Scouand plc, 48 Upperkirkgate, Aberdeen, ABIO 18A
Trustg0$' ro$poMibllities in relation to the financial statsments
The charity trustees are responsible for preparing a Trustees, 8nnual report and financial slalemenls in a¢¢ordance wth
applicable law and United Kingdom Accounting Stsndards {United Kingdom Generally Aeeepled AccDunling Practice).
The law applicable to charities in Scotland requires the chaiity Iru5tees lo prepare financial 5talemenls for each year which
show a true and fair view of the state ¢f affairs of the charity and tsf the income and expenditure of the charity for that period.
In preparing the linaneial slalements, the Trustees are required lo..
select suitable ac￿u￿ting policies and then apply them consistenly.,
obseNe the method and principles the applicable Charities SORP.,
make judgements and estimates that are reasonable and prudent..
slate whether applicable accounting standards and ststements of recommended practsce have been followed. subje¢l
lo any departures di5¢105ed ir7 the financial slatemenls.,
prepare the financial statements on the going concern basis unless rt is in8ppropriale lo presurne that the charity wll
continue in operational existence.
The Twstees are Tesponsible lor keepSng proper accounting records which disclose wth reasonable accuracy at any lime the
financial position of the ¢harity and enable them to ensure that the financial slalements comply with the Charities and Trusiee
Investment (Scollandl Act 2005 and the Charities Accounts Iscotlandl Regulation$ 2006 las amended). They are also
responsible for safeguarding the assets of the charity and hence for tsking reasonable steps foi the prevention and detection
of fraud and other irregularllies.
The Trustees are responsible for the mainlenance anLf integrity of the charity and financial Infomiallon on the congregation's
website. Legislation in the United Kingdom govefnin9 the preparation and dissemination of financial slaternents may differ
from legislation in otherjurisdictions.
Approved by the Trustees and signed on their behalf,
Session Cltrk
2025

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ST IAACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
mha
FOR THE YEAR ENDED 31 DECEMBER 2024
I report on the accounts of the ¢harf(y lor the year ended 31 December 2024 set out on pages 9 to 23.
Re$pe¢tlvè r8sponslbllltlès of trust8es and indepèndent examlnor
The charity's Trustees arè responsible for the preparation of the accounts in 8ccord8nce with the leims of the Charities and
Trustee Investment (Scollandl Act 2005 and Ihe Charities Ac¢ounls (Scollandl Regulations 20061a$ amended).
The Trustees Consider that the audit requirement of Regulalon 10111 lal to Icl of the Accounts Regulations does not apply. It
is rny responsibility to examlne the accounts a5 required under sg¢tion 44111 Ic) of the Act and lo stale whether particular
rnallers have come to my allenlion.
Basss of indapgndont ex¥mI￿r.6 statamont
Mu examination is carried out in accordance with RegulaliDn 11 of the Charities Accounts {SGotlandl regulations 2006 las
amended). An examination inGludes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records 11 also indudes consideration of any unusual items OT disclosures in the accounts, and seeks
explanations trom the Trustees ¢oncgming any such rnallers. The procedures undertaken do not provide all the evidence Ihal
would be required in an audit. and consequently I do not express and audit Dpinion on the view given by the accounts.
Indepèndent 9xamlngr'5 statement
In the course of my examination no matter has come lo my attention
which gives me reasonable cause to believe that any material respect of the requirements..
to keep accounbng re¢ord$ in accordance with Section 44111 lal of the 2005 Act and Regulation 4 of the 20C6
Accounts Regulations {as amended), and
to prepare accounts which accord wlh the accountin9 records and comply wlh Regulation 8 ofthe 2006 Accounts
Regulalions13s amended}
have nol been mel. or
2. towhich, in my opinion, attention should Ix drawn in orderto enable a properundèrst3nding of the accounts to be reached.
Chartered Accountan
For and on behalf of MHA
Aberdeen
2025
MHA is the trading name of MHA Advisory Ltd, 8 limited company registered in England aThJ Wales (company registralK)n
number 162337461.

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
STA TEAqENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrictèd Restricted
funds
funds
2024
2024
Unrestrictgd Restricted
fund$
funds
2023
2023
Total
2024
Total
2023
Note
Income and endowments from:
Donations and legacAes
Charitable a¢livities
Investments
Other
123,027
82.817
26,786
20.415
143,442
772,582
82,817
89,160
48,325
9,243
3 48059
17,2411
765,341
89,760
29,492
21.539
20,249
Total Income
Expenditurg on:
Raising ftjnds
Charitable activities
70,220
208 760
70,220
255
46 571 ￿￿1
59,580
59,580
270 873
Total expenditure
Net (exp&ndlture)lincom8 before
gains and losses on Investments
138.9471
{4,6171
{43.564}
635,318
{33,7191
601,559
Net gains on investments
40 328
Net (exponditurolllncom
12.018)
36.741
34,723
649,840
6,609
656,449
Transfers be￿een funds
Net movemènt in funds
{10.186)
44.909
34,723
614,445
42,004
656,449
Funds brought forward
17
943
1 708 517
328 877
Funds carrlgd forbvdrd
17

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
BALANCE SHEET
AS AT 31 DECEMBER 2024
Total
2024
Totsl
2023
Note
Flxed assets:
Tangible assets
Inveslmenls
1 589
923 321
Total fixèd assets
L89 923 321
Curfent assets:
Debtors
Cash at bank and in hand
13
33,216
634,596
172 308
Total current assets
314,978
806,904
Liabilities:
Creditors falling due wthin one year 14
Net currènt assets
281651
785 196
Nèt a8s9ts
16
Thg funds of thè charity..
Reslri¢ted
Unrestricted
17
17
810,104
933 136
765,195
943 322
Total charity funds
The accounts were approved by the Trustees on
2025 and signed on thèir beh81f by..
10

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
Total
2024
Total
2023
Note
Net cash used in operatlng a¢tlvltie$
20
Ca$h flows from investing a¢tlvFties
Interest and dividends
Purchase of fixed assets
Proceeds from Sale of investments
48.325
{459,9811
29,492
Not cash provided by invg$llng activitiey
411656
29 492
Cash flows from financing actlvlties
Advanced
Repayment of borrow7ngs
Nèt ¢ash provided by financlng a¢tivitie5
Change In cash and cash equlvalents in the year
109,454
23.475
Cash and cash equivalents brought forward
172 308
148 833
Cash and cash equivalents carri•d forward

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollc1è8
The principal accounting policies, which have been applied consistently In the current and preceding year in dealing wlh
items which are considered material to the accounts, are set out below.
lal Accounting convention
The financial statement5 have been p￿pared in accordance wlh the charity's conslilulion, the Charities and Trustee
Investment (Scollandl Act 2005, the Charities Accounts Iscotlandl Regulations 2008 las amended} and °Accounling
and Reporting by Charities: Slalement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable irs the UK and Republic of Ireland IFRS 1021" (8$
amended for accoLtnling period5 commencing from 1 January 20191. The charity is a Public Benefi't Entity as defined
by FRS 102.
The financial statements are prepared in sterling, which is the functional Cur￿nCY of the foundation. Monetsry
amounts in these financial sialemenls are rounded to the nearest £.
The financial slalemenls have been prepared under the historical cost convention. The principal accounting policies
adopted are sel out beltsw.
Ib} Golng concern
Al the lime of approving the financial statements, the Trustees have a reasonable expectation that the charity has
adequate resource5 to continue in operational existence for the fL)reseeable future. Thus the Board of Trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
Icl Fund accounting
Funds are classified as either restricted funds or Un￿StrICted funds, defined as follows..
Reslricled funds are fund5 subject lo specific ￿qu1￿ments as to their use which may be declared by the dorior
or wth their authority or created through legal processe$, but sb'll within the wider objects of the charity.
Unrestri¢ted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If
parts of the unrestricted funds are eam18rked al the discretion of the Trustees for a particular purpose, they are
designated as a separate fund. The designation has an administrative purpose only and does not legally restrict
the Trustees, discretion lo apply the fund.
Id) Income
Income is recognised when the Charity has enliuemenl lo the funds, any performan¢e ¢onditions attached lo the
ilemlsl of income have been mel, it 15 probable that the income will be received and the amount can be measuresy
reliably.
Receipt of a legacy is recognised when it is probable that il wll be received. Receipt is normally probable when there
has been grant of confirmation, the executors have established that there are Sufficient assets in the eslale, after
sellling any liabililies. to pay the legacy and any conditions attached lo the legacy are eKther wlhin the control of the
charity or have been mel.
Donated professional services and donated facilities are recognised as income when the ¢harity 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 Df the item 15 probable and that economic benefit can be measured ￿lIablY. In accordance with the
Chanlies SORP IFRS1021 the general volunteer time of congregation members is not recognised. On receipt,
donated professional services and donated facilib'es are recognised on the basis of the value of the gift lo the charity
which is the amount the cha￿ty woijld have been willing to pay lo obtain seNices or facilities of equivalent econtsmic
benefit on the open market", a corresponding amount is then recognised as expenditure in the period of receipt.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity.,
this is noimally upon nolificalion of the interest paid or payable by the bank.
12

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcies (continued)
le) Expendltu
Expenditure Is Tecognised once there is a legal or constructtve obligation lo make a payment to a third party, il 18
probable that settlement will be required and the amount of the obligation Can be measured reliably. Expenditure can
be classified under the follow¢ng activity headings..
Costs of raising funds Comprise the costs of weekly offering envelope$ and the direct costs as90cialed wth
fvndraising events.
Expenditure on charitable activities includes all other costs associated wth the running of the charity to further its
purposes and the as$o¢ialed support costs
If) Tangible fixod assgts
The charity has the rightto occupy and use for ils charitable objects certain tangible fixed assets, including the Church,
halls, gatehouses and m8nse, vested in the Church of S¢olland General Trustees. No consideration is payable lor
the use of these assets. Expenditure in¢urred on the repair and maintenance ofthe5e assets is Charged as resources
expended in the Slalemenl of Financial A¢￿VItieS in the period in which the liability arises.
Igl Operating leases
The Charity classifies the lease of printing equipment as an operalirig lease.. the title lo the equipment iemains with
the lessor and equipment is replaced every 5 yeats whilst the economic life of such equipment is nomially 10 years.
Rental charges a￿ cha¥ged on a straight line basis over the period of the lease.
(h) Invostmgnts
Fixed asset investments are slated al market value at the balance sheet dale. Unrealised gains and losses represent
the difference befften the market value at the beginning and end of the financial year or, if purchased in the year,
the difference be￿een c051 and market value at the end of the year. Realised gains and losses represent the
difference be￿een the proceeds on disposal and the market value al the start of the year or cost if purchased in the
year.
{1} Taxafjon
Sl Machar's Cathedral Parish Church of S¢olland Aberdeen, is recognised as a charity for the purposes of applicable
taxation legislation and is therefore not subject lo taxation on its charitable actniitres. The charity is not registered for
VAT and resources expended therefore include irrecoverable input VAT.
til C?$h and c•sh equivalents
Cash and cash equivalents include Cash in hand, deposits held at call with banks. olhei short-lerm liquid investments
w*lh original maturities of three months or le55, and bank overdrafts. Bank overdrafts a￿ shown within borrowings in
current liabilities.
13

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES
FOR THE YEAR ENOED 31 DECEMBER 2024
Accountlng policies {contIn￿dI
Ikl Financlal Instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '01her
Financial Instruments Issue5, of FRS 102 to all of its financial instruments.
Financial Instruments are recognised in the charity's balance sheet when the foundation becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial ststemenls, when there is a
legally enfor¢eable right to set off the recognised amounts and there is an intention lo settle on a net basis or lo realise
the asset and setue the liability simultaneously.
Basic flnanclalassets
Basic finan¢ial assets, which in¢lude debtors and cash and bank balances. are initially measured at transaction price
including transaction costs and a￿ subsequently carried at amortised cost Using the effe¢live interest method unless
the arrangement conslilules a linancing transaction, where the transaction Is measured at the present value of the
future receipts discounted al a market rate of interest. Financial asset5 classlfied as receivable within one year are
not amortised.
8asi¢ financial liabilities
Basi¢ financial liabilities. including creditors and bank loans are initially recognised at transacts'on price unless the
arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the
fLJture receipts discounled at a market rale of interest. Financial liabilities classified as payablè within one year are
not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. AmoLJnts payable are classified as Current liabilities if payment is due within one year or
less. If not, they are presented a5 non-current Iiabililie5. Trade ¢reditor$ are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabiliTties
Financial liabilities are derecognised when the foundation's contractual obligations expire or are discharged or
cancelled.
111 Rètir•ment benofits
The charity operates a def4ned contributions pension stheme. Contributions are charged in the accounts as they
become payable in accordance wilh the rules of the scheme.
2. Critical accounting estimate$ and judgements
In the applicats'on of the Charity's accounting policies, the Trustees are required to make judgements, estimates and
assumptions about the carrying amount of a5se15 and liabilities that are not readily apparent from other sources. The
estimales and as50cialed assumptions are based ot) historical experiencè and other factors that are considered lo be
relevant. Actual results may differ Irom these estimates.
The estimate5 and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
cognised in the period in which the estimate is revised where the revision affects only that period. or in the period
of the revision and future periods where the revision affects both current and future periods.
14

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 DECEMBER 2024
3. Donations and legacles
Unrgstrlcted Rèstricted
funds
funds
2024
2024
Unrestrlcted Restricted
funds
funds
2023
2023
Totsl
2024
Totsl
2023
Offerings
National Giving Day income
Tax recovered on gift aid
Legacies
Grants
Endowment income
Poor funds
Special Project income
90.088
3,552
23,812
90,088
3,552
23,812
96,037
6.277
25.417
641,622
645
2,584
96,037
6,277
25,417
8,443
650,065
123,274) 122,629)
2,584
6,500
6,500
0 1090
3,018
2,557
7.415
10.433
2,557
13,000
13,000
Incomo from charltable activities
Unrèstrlctsd Restricted
funds
funds
2024
2024
Unrèstrlcted Restrict8d
funds
funds
2023
2023
Totsl
2024
Total
2023
Weddings
Use of premises
Outreach surplus
Tourist collection box
2,350
44,141
8.694
2.350
44,141
8,694
3,900
51,517
9,721
3.900
51.517
9,721
24 022
S. Investment Income
Unr•stri¢tsd Restricted
Funds
funds
2024
2024
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
Totsl
2023
Investment dividends
Deposit interest
25,014
20,346
45.360
9,041
202
20,039
210
29,080
412
6. Other incomo
Unrestricted Rgstrlcted
Funds
funds
2024
2024
Unrèstri¢ted Re$tricted
funds
funds
2023
2023
Total
2024
Total
2023
Receipts from General Trustees
15

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
7. Analysls of èxpenditure
Unrestricted Restrictsd
funds
tunds
2024
2024
Unrestrieted Restrlcted
funds
funds
2023
2023
Totsl
2024
Totsl
2023
Raising funds
Offering envelopes and stewardship
Tourist brochures and translations
Salaries- beadles
k Heat, light and waler rates
Hall running Costs
Weddings." locum ministers and
organist
Donation boxes and siands
Perfom)ing Rights charges
Adminislralive expenditure
254
2.841
26.315
15,046
13,936
240
254
2,841
26.315
15,046
13,936
240
128
128
22,882
10,297
15,950
750
20,882
10,297
15.950
750
1.085
150
1,085
150
8338
745
745
Charltable a¢tlvltles
Ministries and Mission allocation
Presbytery dues
82,353
82.353
77,747
77,747
86,222
4,982
10,526
86,222
4,982
10,526
22,814
19,133
3,075
20,915
15,449
10.653
16,264
1.245
2,653
358
74
2,573
5,605
3,660
8,040
20,328
762
80,272
4,649
9,153
80,272
4,649
9,153
21,207
56,396
2.782
18.770
13,873
1,885
12,507
1,142
2,562
1,787
89
2,259
8,384
2,100
3,900
16,220
Minister's expenses and pulpit supply
Salaries- beadles
Salaries- music
Fabric repair5 and mainlenan¢e
Council tax
Heal, light and water rates
Insurance
Security systems
Adminislrats've expenditure
Adve￿.$Ing
Organ expenditure
Musi¢
Svnday school expenses
Communion and other expense5
Poor fund payment
Atjdilor's lee
Independent examiner's fee
Outreach & education expenses
lona Youth Festival trip
Development costs
22,814
21,207
19,133
3,075
20,915
15,449
10,653
16,264
1,245
56,396
2.782
18,770
13,873
1,885
12.507
1.142
2,653
358
2,562
1.787
74
2,573
89
2,259
5,605
8,384
3,660
8,040
5,187
762
2,100
3,900
14,369
15,141
1,851
Totsl
Support Costs have not been separately identified as the Trustees consider there is only one charltable activity. Therefore
support COSt5 relate wholly lo that activity and have not been separately been identified.
16

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Net galnslllosses) on investments
Unrestricted Restricted
funds
funds
2024
2024
Unrestricted R8strl¢tgd
funds
fund5
2023
2023
Totsl
2024
Total
2023
Reallsed gainllloss) on investments
Unrealised gainlllossl on investments
41 358 ￿￿287
9. Stsff ¢o$ts and numbors
2024
2023
Salaries- secretary and beadles
Salaiies- music
Salaries- education and outreach workers
57,882
22,814
47,980
21,207
The average number of employees dtsring the year was as follows:
NuM￿r
Numbèr
Administration
Beadles
Music
Education and Outreach
No employee had employee benefits in excess of £60,00012023- £60.000).
All Church of Stolland congregations contribute to the National Stipend Fund whi¢h bears the costs of all ministers.
stipends and employerfs contributions for national insuran¢e, pension and housing and loan fund. Ministers, stipends are
paid in accordance ¥Mth the national stipend scale. which is related to years of service. For the year under review the
minimum sts'pend was £31.642 and the maximum stipend (in the fifth and subsequent years) was £38.884.
10. Tru$tse remuneration and rolated party transactions
During the year seven Trustees recelved ieimbursement of expenses incurred totalling £7,039 and one Trustee received
payments for pulpit supply setvices lolalling £500.
Durin9 the year a lolal of £27,622. excluding Gift Aid, was donated lo the Congregation by Trust¢es.
17

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POUCIES (CONTINUED)
FOR THE YEAR ENOED 31 DECEMBER 2024
11. Tanglble fix&d assets
Following investigation the Trustees have now been able to establish that the property known as Dunbar Street Hall is
held by the Tnjslees on behalf of the Congregation. The land on which this property was built over 100 years ago was
granted lo the Congregation in order to build the hall, subject to many onerous conditions which have now expired as a
result of recent legislation. Accordingly, the Trustees are of the opinion that thi5 land will not revert back to the superior
and as a result the land and hall erected Ihereon now belongs to the Trustees.
The financial st*ements do not record any value for this land and property as the historic cost is unknown and is not
deemed to be a material amount given the length of lime since the use of the land wa$ granted and the hall ere¢led
thereon.
The Trustees have obtsined a current valuation of this property from Shepherd, Chartered Surveyors. of £170.000 who
have valued the property on 17 April 2018 on the basis of market value with the benefit of vacant Possession. The
Trustees have no plans lo dispose of thi5 property.
12. Invtrstm¢nts
2024
2023
Cost
Maikel valu¢ al 1 January 2024
Additions
Disposal$
Realised gainllloss) on investmen19
Unrealised gainlllossl on investments
923.321
459,981
868,471
Market value at 31 December 2024
Investments al ¢osl
The following investments are held..
Church of Scotland Investors Trust Growth Fund
Church of sCo￿and Investors Trust Income Fund
867.457
567,702
355619
13. Debtors
2024
2023
Grant Income
Gift aid laxlinveslment tax recoverable
Other debtors
1,431
7,002
23,811
25,417
7 974 &Q2JL7
18

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES (CONTINUED)
FOR THE YEAR ENOED 31 DECEMBER 2024
14. Creditors: amounts falling due within one year
2024
2023
Accruals and prepaid income
IS. Conllng¥nt asset
As at 31 December 2024 the charity had been notified ofa Tesiduary legacy the value ofwhich is uncertain as the executor
has not received confirmation of all charges lo be deducted from the Estsle. Al the date of approval of these financial
statements no lurther Information had been received and so the legacy has not been recognised.
16. Analys1$ of net assots among funds
Unrostrfctsd Designatgd Rgstrf¢tsd
Total
Investmonts
Current assetsllliabililiesl
105.605
105
630,326
725,658
302 810 ￿446
1,461,589
281651
Net assets at 31 December 2024
19

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABEROEEN
NOTES AND ACCOUNTING POUCIES (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
17. Movements In funds
Galnl
1 January
Incomlng Resources
{lossl on
2024 ro$ourc&$
Expended Investments fransfgrs
31 December
2024
Restrlcted funds
Music fvnd
Adam fund
Poor fund
Tomb fvnd
Fabric fund
John Calder Trust ftjnd
Special projec15 fvnd
700.394
1,626
55,736
1,677
5,762
20,157
45
14,569
47
163
7,000
27
125,8251
41,358
736,084
1,671
64,700
1,724
5.925
15.6051
115,1411
8.141
27
Unrestricted funds
Congregational fund
Designatsd funds
Pastoral oulreaGh fund
Dunbar Sl hall fund
Fabric fund
Reserve fund
Special pr¢je¢ls fund
8enevolenl fund
163,412
{193.7081
30,2
36,327
22,253
28,023
(52,2031
{13,9361
{19,1331
15,876
1,683
156,0231
940,096
2,572
511
143
36,276
929,239
2,572
1,178
147
14
653
Total funds
20

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17. Movements in funds l¢ontlnued)
Gainl
{lossl on
investments Transfers
l January
Incomlng
2023 resources
Resources
expended
31 Decembol
2023
Restricted funds
Music fund
Adam fund
Poor fund
Tomb fund
Fabric fund
Special projects fund
658,322
1,581
56.052
1,631
5,605
27,300
45
8.068
46
157
(25,5561
40,328
700,394
1.626
55,736
1,677
5,762
18.384)
Unrestricted funds
Ctsngfegalional fund
Designated funds
Pagloral outreach fLFnd
Dunbar Sl hall fund
Fabric fund
Reserve fund
Special projects fund
8enevolent fund
775.331
1169,8631
15.4681
33,742
10,762
699,205
{41,5171
{15,9501
156,3961
7,775
5,188
142,890}
326.186
2,572
14,011
940,096
2.572
511
14
511
Total funds
Restricted funds
The purpose of the Music fund is lo support and enhance music for liturgical purposes and the musical a¢livilies of the
Congregation.
The purpose of the Adam Augmentation fund is to provlde a modest addition to the Minister's salary.
The purpose of the Poor fund is to support approprtale charitable causes outwilh the Cathedral and also pa51oral worf(
with infirm or housebound mernbers of the congre9alion.
The purpose of the Tomb fund is to support the upkeep oftombs and memorials within the care of the Cathedral.
The purpose ol the Fabric fund is lo provide support for repairs. maintenance, renovation and capital expenditure on
Cathedral buildings.
The purpose of the income from the John Calder Twsl is to support the cost of the Salary for an Educatson officer.
The puipose of the Special Projec15 fL¢nd is lo support the Cathedr81'5 development plan., phase one, the refurbishment
of the interior, was completed in 2018. During 2019, 2020, 2021 and 2022 there was expenditure incurred on phase
work on the roof, windows and celling.
21

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTIMG POLICIES ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
17. Movomgnts In funds (continued)
Designat¢d funds
The purpose of the Pastoral outreach fvnd is to provide support for the opening of the Cathedral to the public on every
day of the year. and community outreach generally.
The purpose of the Dunbar St hall fvnd is an incomelexpenditure fund for the Dunbar St Hall.
The purpose of the Fabric fund is to provlde support for repaiTS, rnainlenance, renovation and capitsl expenditure on
Cathedral buildings.
The purpose of the Reserve fund is lo maintain a financial reserve which can be applied to any Cathedfal Fund.
The purpose of the Special Projects fund is to support the Cathedral's development plan.. phase one. the refvrbishment
of the interior, was completed in 2018. D￿ring 2019, 2020, 2021 and 2022 there was expenditure incurred on phase two,
work on the roof. windows and ceiling.
The purpose of the Benevolent fund is lo help the needy of the parish al the discretion of the minister.
18. Volunteers
In common wlh all congregations of the Church of Scotland the Congregation benefits from the ¢onlrSbulion made by
volunteers who give their time and talents wllingly for the benefit of the Church. The areas of congregational life which
rely on the contribution of volunteers S￿ many and varied and mLtch of the activity would be unable to continue were Il
not lor the ¢ommitmenl shown.
19. Controlling party
The charity is under the ¢onlrol of the Trustees, as detailed on page 6.
20. Reconciliation of net movemant In funds to net eash flow from operating activities
2024
2023
Nel movement in funds
Deduct interest income
Oeduct gain5 on inveslmentsladd back losses
Decrea5ellin¢rea5el in debtors
Increasel{decreasel in creditors
34,723
{48,3251
178.287)
601,380
11 619
656,449
129,4921
154,8501
1540.5731
Net cash usod in operatlng activities
22

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
NOTES AND ACCOUNTING POLICIES {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Collections for third partios
During the year the following collections were made for third parties..
2024
2023
Cultivate AbeTdeen
Water Aid
Medecins Sans Fronliere$
Big Noise Torry
The Salvation Amiy
Disaster Emergency Commtssion
Tilly Flat
Instant Neighbour
Judith Norton
1.224
1.229
648
648
228
1,199
1.214
514
713
298
23

ST MACHAR'S CATHEDRAL PARISH CHURCH OF SCOTLAND ABERDEEN
APPENDIX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FUNDS HELD ON BEHALF OF THE CONGREGATION
BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES
2024
2023
Capital account
Credit balance at 31 December 2023 at cost
179,523
227,582
Property costs
Credit balance al 31 December 2024 at
cost
Market value of balances al 31 December 2024
R&venue account
Credit balance al 31 December 2023
9,338
1,305
Investment income
10,342
8.372
Transfer from temporary funds account
1118}
Adminislralion costs
19601
(2211
Propertylenergy costs
403
Credit balance al 31 December 2024
Temporary funds
Debil balance al 31 December 2023
1118)
Property costs
12,4001
Transfer lo revenue account
Debit balance at 31 December 2024
24