PITLOCHRY CHURCH OF SCOTLAND ACCRUED (2015 SORP COMPLIANT) ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 SCOTtISH CHARITY NO: SC008361 CONGREGATIONAL NO: 271619 prTLOCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 Trustees Annual Report TheTrustees present their annu4 report andfinancial #tatémentsof thetharityforthÈ year e¢￿ed 31 DÉcÈrnber 2024. Thefinancial statements have been prepared ¢n accordance withthe accountiTrg poI￿leS set out on pages and 9 and comply with the Ger*ral A55emWy Regulations for Congregational Finance, the Ch4ritie5 and Trustees Investments Iscotlandl Aci 2005,the CharitiesAccounts1S(otlandl Re8ulations 2(N)6 la5arnendedl and Accountin8 Reporbn8 by Charities.. Statement of Retommended Prattite applitab￿ tts Charities preparing their accounts in accordance with the Financial Rewtin8 &&rnlJrd wplicable in the and RepublK of Ireland pU￿lShed on 16 July 2014. The Accounts ths year have been produced in a fomiat to meet the Accrued12015 S(KtP Compliantl kcounts reovirement. Objectlves and Actl¥ltles The Churth of ScotiiTrd is TriTrit?ri¥n in d*)rtrine, Refomied in trèditioh and Presbyterian in M)lity. ￿ exists to lorify God, and to work fof the advance￿￿* of Christ'# ￿ngdoM throu8htsut thè w)dd. As a n*ion¥l Chureh, it acknowtedies a distinctivÈ cèll and duty to bring the ordinances of relition to the people in every parish of Scotland through a territoila ministry. k c(toperates With other churthes in various ecumenical tr*)dies in Scotland beyond. Ovuview: The church wag linked with the Church of Blar Atholl & Slruin from l January 2024. Permission was given by Pr•%hytÉ)ry to tall A Ministèr And • V￿an¢¥ rnmmi*tPP Wh% plprt?d by members comprisin8 7 mprnbws of pitlor.hry Churth and 4 members of Fslalr A..h(Al A %triJin fhurch. folkiwne a review of applications and interviews ol p￿ler￿ candidates. the as invf(eiJ to preach at both ( Iiurrlii-% on 16 June 2024 after which the congreRaL￿￿lS vl kniii ￿11￿(L11eS unanimously ￿ted to apDoint ès IAiThster. The call was duly signed by the members and approved by Presbytèry on 10 Septpmbpr L024. Rever a5 Indutted on IO. Ihober 2024. Prforto RLW. Fosterfs appointrY*nt a suppty minister wa5 provided LTr¥ Pi esbstery. Cornrnunlon Servke5 Vlere held 4 tlrnes In 2024 albelt w11￿ 51Jrne re5trKted re8ulalbns,' an £a5ter Communlon washeld out￿de bythe Loch. When the S¥pWy Minister was awayi 3er¥i£es wereor8ani5eé and led by members of the Worship Group. The Church Choir rehe•rso15 jreon Wednesd4y ni6hts ond produced antherns for £aster Ind Christmas. The Guild regul¥rly met mc*nthlyon Monday aftwn¢)ons. As a cOngreg￿lL1) we are committed io the MIMkJn of the Church of kotland both lo¢Jlly and intern*iofially. The congregation continue to support Christian Aid thfouih the annual appeal. sp*¢ial offerin85 and indiwdual fund-raisingÉwents. The congregation also£￿tInUed theirsupport Qf and medical supplie5to Ekwendeni, Malawi, whSth are sent through the Ban￿aboX Trust. and this ye¥ to The Moder￿OrS Challènge-'Let Your Litt￿ Lkght Slyne'_ an ap￿31 to prry5de solar Ivdhtln8 for sch(ds in Malawl. In 2024 Pltlothry Churth tsrf Scoiland's a¢tiviti*s included the following: Hyms, bible ￿adIngS and Praye￿ ale put up on èT8e screensfor the congregation to rèad. The prothsion at Momir8 Worship of teaching Wednesday Coffee and Chat and the prayer group meet weekty. This is staffed by Membe￿ of the church. Monthly n*etings of The Guild took p18ce promoting fellowship for men women. and a Chrtstian insi8ht into matters of nation* and internat￿nal interest. We continued to welcome visltor5 to PitlothryTrncluding individuals ￿d8r￿P5. The pasioral care cl the people ol the palsh. whether members or ￿t. includin8 fvnerais and weddings. Our Interim m￿ernt￿ or Suppw Minster pwwded pastoral c¥e. Ajongside the EldershSp an aaive Pa5tc*al ca￿ Team COnt￿t by te￿PhO￿, emall or Ms51 those who a￿ conflned to home or in hospital. The Elders for the local care horne and sheltered hous1￿ c¢)rnplex ensur￿ that contart was maintained. p￿LOCHRy CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 The Bonanubox Trust (transport to Malawil was supported by individual donations and supplernented with the a8reernent of the Kirk Session. to ensure that the donated goods ￿a(he￿ their destination. Achle¥tmtnts and ￿rf1>Mi8nt* Numbers at Sundty Worship flurtuate conslderabfy dependin8 on the season of the year, the weather condilions and the effect of hdidays, but on average the attendance would be in the reglon of 45-50. A regular Newsletter was produced to infomi members of matters and items decided at Kirk Session meetin8S. There were 3 funerats of Members of the con8regatlon and parish. I wedding and O baptisms. Ourfsve workinggroupscontinued in 2023.. CommvnKation, Mission & Outreach. Fabric, Finance. Pastoral Care & Fellowship. Worship. PVG matters (PrOtect￿Tr of Vulnerable Groups) were kept under re¥lew. The Tryst continue5 to be used by many community or8anisations including Aliheimers Scotland, whose day-care centre runs two day5 a week in conjunction wtth Crossreach,. otheru5er5 include Scottish Country Dancing. the Pitlochry Choral Society. History Cirde and other local and district 8fOUP5. The running The Tryst is supported by a willing group of church members. winter approached and the cost of li￿n& and heatin8 went up it was decided to combine with other churches in our area and offer-wam rrx)ms- on one Oay a week. Providin8 relreshments, hot 50yp and conversation to anyone from the Communrtv. OUT Christmas Tree Festival. on the 30 November and 1st De(ember, was a h¢8hliBht of the year. 21 Christmas Trees produced by members of the tLYnmunity, charitie5. children'$ 8roups and local shop owner$ Brnced our church. Many of our townslolk and wsitots came to our church. Refreshments were served in the church hall. £1,600 was raised at the Festival and at a Concert held on the Sunday evenin8. The money was donated to The local Foodbank, a chaiity prowdin8free food parcels to deservin8 families, and to The Shelterbox Trust, a tharitycommitted to prowding ernergency5helters to popul*ions in artas struck by fiatural disaster5 or waf. The Church's website contlnues to recel¥e many htts and the church newsletter appears online as well as sn pdni. Inlorm*w about church actwtties atso appears in two kvl publications-Pitlochry Llft •nd the Atholl Quoir. Some ol the ￿lIe￿lon$ and sermons recorded on a Sunday Morning were sha￿d with the community on Heartland FM local Radlo and each week the Sunday Reflection also appeared on the church website. In this. another challengin8 year. office-bearers in ihe con8re8ation have worked hard to maintaln ihe ongoing lrfe, governance and well-beiThg of pr¢I￿hry Church of kotland. It is important to acknowleiJ8e this si8nificant contribution in particular￿ difficuh circumstances. Particular rntntion should be made of those who have continued in their role beyond their agrted term and those who volunteered to take on a role when someone stood down. The church buildings continue to be well mèiniained. FInan¢￿[ Re¥bew The Finance Group ha% rnet regularly and contlnues to moniior all aspetts of the finance of the Church and it5 or8anisations. Each Me￿ing has an a8enda and minutes are kept. Reports have been provided to the Kirk Se5SK)n appralsln8 ihem of the Position and any rtcornmendations. As in previous yeaTS, the principal source5 of incorne remain the weekly offerines and givin￿$, made by Bank Standing Orders and re8ularcheque pèyments. Ordinaryofferin8s in 2024 were £44,19412023.. £43.6261. Tax recovered for the actual year from Gfft totalled £12,209 coMpa￿d with £7,134 In 2023. The￿ were no her unrestricted donations from different sources this year12023_. £Nill. The Church has benefrted from I legacy in this financial year amotjnting to £5.OiX)12023.. £6,1361. This gives a final ¥oluntary income figure for 2024 of £61,40312023.. £56￿961. Flnanclal Revlew ¢ot)tin¢red There was a gain on all investments held of £12.939 CoMpa￿d W￿¢h a ￿1n of £12,265 in 2023. PITLOCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 The Community Youth Fund awarded 4 grants totalling £4,5CKJ. The Fund now has a balance of £706. Funds held by the General Trustees of the Church of Scotland from the Sale of Moulin Klrk are now £22,709 12023.. £30,433), the decrease being due to payment of the £IO.(K(J agreed ¢ontribution to The Tryst replacement tentral heating (See Appendix 11. The operation of the PAYE system and Pension Scheme for employed staff continue5 to be dealt wlth by Walton Kll8our laccountantsl. Income from hire of The Tryst raised £11.76712023.. £15,617). The Tryst continues to have a café insurance policy in place and all user5 of The Tryst must have thelr own indemnity Insurance as recommended by the Church of Scotland Irtsuran￿ Scheme. The Givln8 To Grow contribution increased in 2024 after the appolntment of the Mlnister to £31.30512023-. £21,121). The Giving to Grow contribution is a nel figure as monies from Endowment Income and the rent of the Glebearededucted from the total contribution. The Endowment Income for 2023 was £1,60612023.' £1,6CfjI and comes from the Consolidated Stipend Fund which is a -Permanent Endowment Fund" whose purpose Is to create income to pay for ministry C05t. This is held ¢entrally. Pitlochry Churth of Scotland holds 8,260 shares In this Fund. The Christmas Tree Festival took place in December and Talsed £l,fAXI. Thls was dbvlded betsyeen the chosen charities- The Pitlochry Foodbank and The Shelterbox Trust. There was I retiring collectlon totallln8 £586 in support of The Churth and General Church of Scotland charities. As there were no othef retlrin8 collections the Kirk Session agreed that donations from Wednesday coffee and chat meetln8s would go to Bananabox Trust and to the Moderators Challen8e of 'Let Your Llttle Llght Shlne,. A Total of £939 was raised for The Bananabox Trust and £4￿ for'Let Your Little Light Shlne,. Durin8 2024, a sum of£19,000 was drawn down from theCOSIT Deposlt Fund prlnclpally to help pay for Pltlothry Church's share of the Manse refurbishment expendilure. The 2023 accounts included debtors of £10,000 each from the Margaret Steel Fund and Moulln Klrk Fund which was rffelved in 2024. Each year there should be an opportunity for each member to review their own 8ivin8 commllment so that secure foundation can continue to be achieved for the work of the Church Ioc311y and worldwlde. Having successfully produced the accounts in-house for 2023 they have agaln been produced In-house. The total Incomlng resources for 2024 was £86,875 12023.. £IOS.2861 with total resource5 expended of £117,98912023.. £114,799) leaving an operatin8 loss of £31.11412023.. loss £9.5131. The gain on Investments of £12,93912023.' gain £12.26SI means an overall net expendlture of £18,17412023.. Income £2,752). Whilst the net expenditure Is £18.17412023: Irtcome £2.7S21 It should be noted that we received a legacy of £5.00012023'. £6,136) but spent £21,666 on the refurt)ishment of the Moulin Manse. The sum of£19,C(Q12023.' £25,oc()I was drawn down from the Deposit Fund in the year. These flgures must be viewed in conjunthion with the Statemeni of Financial Actlvilies and Notes on the Annual Report and Accounts for the interpretation of individual items of income and expenditure. The total Church assets at the end of year were £222.038 compared to £240.212 at previous year end. Appendices l & 2 show details for the Consolidated Fabric and Communlty Youth Funds. Everyone who has contributed to sustsin thls present sStuation must be thanked for thelr generous contrlbution to thls effort not only in finandal ternis but also for thelr tlme and USÈ of thelr personal talent5. Future considèrations To date it ha5 been recommènded that the Trustees have a k)oli¢y to hold reserves of at least twelve months. operational expenditure including designated funds. At the year end the church held unrestricted and designated funds of £215,77212023: £230.2261. PITLOCHRYCHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 The G￿tse The Glebe of 5 acre5 51tuated * Moulin is let for8razFn8 and owned bythe Church of Scotlarnd General Tru$teo5. The iF)come is used for the benefrt of the Ministerfs stipend and the Minister of Pitlochry Churth ol Scotland is one ol the consultees. The General Assarbly has recommended that Ministers consult with their Finanaal B03rds on decislons tse1￿ made in relation to it. The paperwork for lettiTh85 is handled fro nd the rent collected there. The money is then credited tothe stipend account for rhec￿gre8atlo￿. Herft•ge Sllver- Property of Thtlcchry Church of Scotland The C¢mmunion Sifver is owned by ihe Congregation of *"tILxhry Church of Scotland and includes am1￿￿ other pieces, 4 splendid silver oblets. dated 1781 and engr3v&l T(Irk SessK)n of Mullne 1782-. The Kirk Sessiors In 2022 invite Auctioneers and Vauersl from Perth to undwtake a new valuatlon for Insurance purK￿e5. There is an annual uplift in insurince value. calculated and aFplied by the Church of Scotland Insurance Scheme in February ol each year. The current insurance value is £60,46312023: 60,6431. Items valued at Iv•S than £5.OLKI are included under the "all risk5" section of in5UTance. In addition, several pieces of pewter and 4 silver plated chalices eTrdraved ￿0￿11￿ Free Churth 1844° alon8 Wrth a collection of ¢ommrJnion topens were rerrieved from the vaults of the Bank of Scotland. These have been valued at £6CM) and listed by Moulln Herltage Museum now hasthese iiems on display on permanent loan from Pltlochry Church o The Church of ScotlaThJ Insurante company has been informed of this arrangernent. co an Investment polcy and performance pitlochry Church of Scotland holds Inv•stm•nts prlmarfjly In. and mana8•d by, the Church of Scotland Inv•stors rrust In Edlnbur8h. All other funds are Invesred In the Growth Fund or Income Fund of the Church of Scotland. Funds are also held In Deposli acc¢Junts and the Treasurer of Pltlochry Q￿rch of Scoiiand has permlsslon to move tunds from these ac¢ount5 a5 an¢ when monies are require(I rhe investment objective5 are to build a firm and stable finjncial infra#rurture tg the daily, weekly, monthly and finantSal iivlng's of the con8re8atson of Pltlochry thurch of Scotland. Thls then wlll allow the work of Pltloehry Church of Scotland to tontlnue wlthout concern at local, national and International levels. The Irwe51ment poliq ol the Church of Scotland Investment Trust is determined by thelr Trustees ard not by the Trustees of Pitlochry thLtfch of Scotland but is accepted and acknoW￿dle(l by the Trustees of Pitlothry Church ol Scotland. Rlsk mana8em•nt The church'3 Risk M4na4ernent a55e55ment l5 based on those matters whlch are consldered to be of the most current concern down to issues which could 01 might be $0 in the luture but èle not present at the ffloment. A 8radln8 Svstem Is used io ideniify those (oncerns which are re8arded as the most 518nificont. where the Ihurch 15 le55 able to reclify, down to those whlch at the rnornent ale of Ilitle or noconcern. ThIsBradln8 System 15 Set out In the chart below. R&k Factor Grad• Risk ￿entified over past few years which by its nature 58nrficant implications for fLrture of church and to date On￿ limited succe55 in effertively resolving Risk *Jentified but at present church mana8in8 to resporKI effectively. However, due to ewdence ol key important factors COLtkd be of si nffj1can￿ in the fvt￿re. Potential risk but ng evidence at present that such is gf any current concerrL However on-going vigilance essenlial. Potwtlal rbk bul no e￿￿enCe that of any lrnmedlate or future concern. PITLOCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 No Risk Identlfied Church membership continues to fall and now stands at 266. A contributory factor is due to death and people movlngfrom the district. This fall in membership coincide5 Wtth an ever- increasin8 avera8e age of the congregation. We, sadly, despite our best efforts, have not been able to increase our ¢hurch mefflber5hip and church attendance of children. youn8 teenagers, and their familie5. Howevèr. we are fortunate to continue to have contact with the children through the school and the local Cubs15couts. Perhaps these relationships are something we can continue to work within and row. StrateBleslAdbons to Manage The appointment of excellent Ministers in the past has been of great importance ensuring great SUPPOrt and commitrnent of the farthful. Such has also ensured a 'happy church.. 'Messy Church, which was set up for primary school aged children has sadly not restarted thi5 year. The'Breathe Projeev whi¢h engages with late primary and early secondary aged youn8 people. has not taken place durln8 the year. Grade Whilst the lettlng of The Tryst IS going well the incomelexpendlture of the Church continues to show an annual deficit. It will be more important than ever that the finances of the church are dosely monltored. Due to the situation with the cost of living and ener￿ prices it was not considered appropriate to have an annual glft day or stewafdship campaign in 2024. We will ntinue to re8ularly review the situation. The church has benefited Breatly over the years from le8acies and this important aspe￿ of 8ivinB Is regularly highlighted to the church membershi The task of appointln8 a Jolnt Se55ion Cleik in 2025 is critical. The Tecruiting of willing members to take on key posltions within the church remains a slgnlflcant challenge. We have silll not been ble to appoint a replacement Joint Session Clerk. The joint Session Clerk should have stood down in 2022 but due to the Minister retiring has continueil in post. In additlon lo the importance of willinB offi bearers the church is especially dependent upon the need for volunteers. This is due in no small measure to the extent of the church's Involvement and contribution to the needs of the wider parish and community, espeu31 concerning The fryst a¢commodation which provldes, via Aliheimers and CrossReach, day care for the elderly. In order to manage this contribution and resource. Ihe church is especially dependent upon 8 small number of volunteer caretakers. However. with an ever- ncre85in8 average age of church membership ensuring sufficient volunteers io manage this overall operation is an on-going challenge. The Church, The Tryst and The Manseare all old buildings and require considerable inBoin8 fabric maintenance. There is always a major risk of dama8e given the incfeased frequency of 5torm5 There are sufficient volunteers at present and systems are effectively in place to provide the necessary mana8ement and support. Fabri¢ Group undertakes regular monitorin8 and assessment of buildinBs and plant and action effectively taken when first evidence of repair required. PITLOCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 An important aspert of our risk assessment which needs to be highlighted is the connection and link between the four A grades identified above. If these factors continue to gather pace over the next few years. then the combination of the A's would demonstrate a very high degree of risk. Reser¥es Poll¢y It has been recommended that theTfUStees havea policyto hold reseryes of at leasttwelve month's operational expendlture includlng designated funds. At the year end the Church held unrestritted funds of £21S.77212023'. £230,2261. The church a150 held £6,26612023'. £9.9861 of restricted funds which have been provided for the purposes specified. Structure. Governanc• and Management GovernSn£ Document Pitlo¢hryChurth of Scotland IheTeinafteT referred toas thechurchl is administered in accordancewith the terms of the Deed of Constitution (Unitary Forml. Untll I" March 2013, the Church was administered under traditional Deed of Constitution whlch required a Klrk Session and a Con8re8ational Board. On 20 January 2013 at a special Congregatlonal Meetln& the members of the Congre8atlon present decided that the Unitary Form of the Deed of Constltutlon should be adopted. Thls was approved by the Churth of Scotland's Delegation of Assembty wlth effect from 1° March 2013 and on that date the Con8Tegational Board was disbanded. ReCrU￿rnent and Appolntment of Trusttts As from the adoption of the Unitary Forni of the Deed of Constltution on Marth 1° 2013, the members of the Kirk Session are the sole Trustees. The members of the Kirk Session are the elders of the Church.. new elders are chosen by ihe existln8 Klrk Sesslon from those members of the Church who are considered to have the appropriate 8ifts and skills. The Minister, who Is a member of the Klrk sesslon.ls elerted by the con8re8atlon and Inducted by Presbytery. Or8an1￿1SOnal Struciure The Klrk Sesslon15 ¢halreil by the Mlnlster and meets five tlmes a year. Certain responslbllrtles are delegated to six working groups, formed ol members of the Kirk Session and any co-opted person wlth approprlate expenlse. These are.. The Finance Group. The Fabdt Group, the Worship Group, the Pastoral Care and Fellowship Group, the World Mission Group, and the Communication and Ouireach Group. The conveners of each group along with the Ses51on Clerks and Mlnister fom the Coordinatin8 group whleh meets from time to time to oversee and receive reports of the actNities of each workinggroup and to prepare the Session Agenda. PITLOCHRY CIIURCH OF SCOTLAND YEAR EMDED31 DECEMBER2024 Referen¢e and Adn￿lstra￿ve Infovmatlon Trustees prlnclpa Qffke eearers Interim Modertor.. Minister.. Session Clerks.. Church Treasurer.. Pilndpal Offlce The Tryst Church Road Pitlochry PH16 5E8 Charty No: SC008361 Independeot Examlner Bankers 76 Ath911 Rojd Prtlochry PH16 SBW PITLOCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 The charity trustees are responsible for preparing a trustees, annual report and financial statements Sn accordance with applicable law and Unrted Kin8domAccountin8 Standards Iunited Kingdom GeneraltyAccepted Accounting Prarticel. The law applicable to charities in Scotland requires the trustee5 to prepare the financial statements for each year which shows a true and fatr view of the state of affairs for the charity and of the incoming res0￿r(eS and application of resources of the thaitty for that perw)d. In preparin8 the financial statements. the trustees are required to= Select suitable ¥counting pcAicie5 and then apply them consistently lsee details belowl Observe the methods and principles in the Charities SORP Make jud8ments and estimates that are reasonable and prnd￿t State whether applicable accounting stsndards and statement of recommended pr&tite have been followed. subject to any departures disclosed and explained irb the financial siatements Prepare the financial staternent5 on the 8IWII8 concem ba515 unless it ¢5 inappropriate to presume that the charrty will toniinue in operational existente. Attotsnii￿ Polkies The principal accounting policies. which have been applied consistently in the current and precedln8 year In dealin8 with items, which are tonsidered matwial tothe *counts. are stt out below. 8a519 of preparatlon The linantial statemenis have been prepared in accordance wilh Accounting and Reportlng by CharltSes'. Statement of Recommended Prattice applicable to charit￿S prepafin8 their accounts in accordance with the Flnanclal Reportln8 Standards applicable in the UK and Republic of Irdand IFRS1021 issued on 16 July 2014 and the Charities and Trustee Investment Iscotlandl kt 21K15. and the Charities Auounts Iscoilandl Re8ulatlons 2006 las amended). Fund accountl Funds are classlfled as e￿her restrkned funds or unrestrkted fvNls, defined as follows'.- Restrlcted funds are funds svbiett to spetific requirtmtnts as to their use. which may be declared bythe donor or with their authorrty or created ihrou8h le8al processes, but still within the widerobjects of the ch•ritv. Endowrnentlund5 are funds whlch have been 8i¥en on thecondiilon thai theori8inal capital sum Is not reduced, but the income thèrefrom is u5Èd for the purwjse defined irb accordance wtth the objects of the charity. VTrre5tricted funds are expendable at the discretion of the trustees in furthtrance of the otsjects ol the charlty. parts of the unrestritted funds are earmarked at the dI￿retIOn of the trustees for a purpose. they are designated as a separate fund. This design￿lon has an administrntivt purp￿¢ only and does not le8a1￿ restr Ihe tru5tee5' discretion to apply the fund. Incomt Reco8nltlon Income is Tecognised when the charlty has entÉtlement to the funds, any performarKe Condit￿￿5 attached to itemlsl of income have been met, it is probable that the intomt will be received and the anKJunt measured rèliably. Income is classthed under the following artNity headin8S'.- Voluntary Income Acttvities for Generating Funds Incomin8 Resources from Charitable ActT¥itie5 Other Incornin8 Resources Investment Income Churth Related Groups PITLQCHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 Expendlture Reco8nhlon Expenditure is recognised once there is a legal or constructive obligation to make a payment to a thtrd party. It is probable that settlement will be required and the arnount of the obligation can be measured reliably. Expenditure is classified under the followin8 activity headirw.. - Costs of ralslng funds Expenditure on charitable activities Other expenditure represents those items not falling into any other headSn8 Irre¢overable VAT Irrecoverable VAT is charged as a cost against the activity for which the exper￿ltUre was incurred. Donated ser¥lc•s and fadlltl•s Donated professlonal services and donated facilltie5 are recogniseil as income when the charity has control over Ihe ilem, any conditions assooated with the donated item have been met, the receipt of economic benefit from use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS1021 the 8eneral volunteer time of con8regational members is not recogni5ed. On recelpt, donated professional ser¥ice5 and donated facilities are reco8nised based on the value of the gift to the Charity which is the amount the charity would have been willin8 to pay to obtain services or facilities of equivalent economlc beneflt on the open market,. a corresponding amounl is then reco8nlsed as expenditure in the period of recelpt. Interest recel¥able Interest on funds held on deposlt Is Included when recelvable and the amount can be measured reliably by the charity,. thi5 is normally upon notification of the interest paid or payable by the bank. Flxed Assets The charity has the right to occupy and use for Its charitable objettNes certain tanglble Ilxed assets, Includln8 the Church. halls and manse, vested in ihe Church of Scotland General Trustees. No consideration Is payable foi the use of these assets. Expertditure incurre(l on the repair and maintenance of these assets is charged as resources expended in the Ststement of Finanaal Activities in the period in which the liability arises. Investments Fixed asset Investments are stated at market value at the balance sheet date. Unreali5ed gains and losses represent the difference between the marketvalue at the beginning and end ol ihefinancial year or. if purchased In ihe year, the difference between cost and market value at the end of the year. Reali5ed Balns and 105ses represent the difference between the proceeils on dbsposal and the market value at the start of the year of cost If purchased In the year. Tamatlon Pitlochry Church Is recognlsed as a charityforthe purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not re8isiered lor VAT and resources expended therefore include irrecoverable input VAT. The trustees are responsible for keeping proper accountin8 records which disclose with reasonable accuraLry at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustees Investment IS¢otlandl Act 2005 and the Charities Accounts (Scotlandl Regulation 2006 and the provisions of the ¢haritVs consiitution. Theyare also ￿SponsIble forthe safeguarding of the assets of the charity and hence for takin8 reasonable steps fr*r the prevention and detection of fraud and other irre8ularities. The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregatlon's website. Legislatlon In the United Kingdom goveming the preparation and dissemination of ffinan¢lal statements may differ from leBislation in other Jurisdirtions. PITLOCHRYCHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 ApprthY•d by th• Tru5tq•s and slywd on th•lr b•half Oate". Session Clerk io PITL(XHRY CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 IndepefidÉrtt Examiners RepJr4* *rdw kn￿dId Ins￿lI¢*￿ts•￿th*tytyl￿É￿￿ 12021.. ts3291 T￿1•re nOtern￿O￿4￿ NoemphveeWemrAo￿ebene11ts 1nexce5501£50.ts￿l 2023.. nl l Ch￿r¢h 015¢•i￿r￿ MNt¥•tSon5thTrtrfknetothe flDtWSt*￿JF￿￿W1￿bt￿thEcO5rQf￿￿￿￿te￿SI￿￿￿•￿tmpw1 COntrfbJ￿o￿10r nadonol Insuian£•. and ￿usIn13rlIlWff￿￿. •t•D•w4 kn *[DrdwKe￿ththI Th¥t￿ls￿pe￿￿ 5c* whlch Is rehtedtoyearsofseThlce. ForthoyuThJor £31.641 aTh1 th•nh*YmNbMsbr￿ In5th4nd 5ub5ewent y•*5 £38W4. 8 Trw1••ft•mwn•rfK)h•￿k•w P•rtyTr•r4•¢d Ih•Tr*•t, knth•l¥Js¥*5solih•clwtyicdlr¥ £774. jrf￿ I￿￿•rE$,997<2025.. £10.603ItJA5thnatsd ththImrn•ODn￿thfrTi1￿t*i1.Thkn&ukW￿j Irw GIftW ￿￿4dd￿0￿ ThI•￿￿￿¢thI￿*0lNth¥%etyjntt￿th1 Ir4•wdthtrAnhwtknnolth•th•Kuort¥vx£435 (2013." £825>.T￿LI￿rt￿0tr$ wfthln OthwE¥p•Nu. io OpEnln8 M?rkrfvakJ••t ￿J1￿J￿¥ Clsposbh In Atoulrnd Invtstm•hts In y#r GalnllLosslon ieallsagionof unlts Unreallsld l¢Jss Oh I￿￿t￿ents UrtTe•lW on ImY5m*nts sj 961 211.691 31.173 47 3,135 Il893 Zo3￿96 12.265 195.918 Th? I￿￿￿￿1￿￿1n￿￿lVehe￿I4f 3151 De(e rr MarkttValuÈ asof 31stOe¢emberth e#chywr 2023 Furos Chur)1 736 332 293 434 85 3,525 5,011 IJ An•lWsolNe¢ A¥s•ts B¢¢w¢¥i Fun 24 2023 2013 1014 2023 HerltaBe Sll¥er Invesrments Current A55ets Current ￿abilit*s Net a$5ets at 31 De¢emter 203.896 IS.400 3.525 215,771 191.LXJ3 44.234 5.011 230.226 4.915 s￿10 203.896 IL665 3,52S 221037 195.918 49.304 5.011 240.212 1265 6.266 9.986 There may be rnlnordlscrepades Inthttotsls if the *nceare beln85htyA 14 Volunt¢ws In keeplngwiththÈStewardship pro8ramme for11Th￿on0t01eFDts, aswdl as m¢Jnty. 50 membets Oft￿ conrnation,or 115 ofthe membershlp. ￿lunteer for such dutie5 as careta￿Th8 for the thurth and halls, wekorne duty in Chvrch on Sunday5, providin8toffee after the 5eThice or otWedne5dtyColfee & Chat. tlrivin8The comrnuntybu5. ￿diD￿sUndaY Oub, helpin wrf£h crafts orfood at Me55yChurch Se￿0￿$. arran&•g Chtsrth fl¢)wers, maint3iningthe 8ardeTr and buildin8s, ￿sItin8 church mernbers who are lonely. sick or in hosptsl. 35 mefflbe￿ of oui Six wKknn8wps. distiibutin8the chulch new51etter, masntainiTh8the website. helwn8at the Christrna5Tree Fe5tNal and k*MnKthe membetship roll current. 17 SYnOCHRYCHURCH Cf SCOTLAND YEAR ENDED51￿cEmBERIOZ4 NOte5Fowml￿PartoIthe Flrtarthlstaiefflentslcthth 14 Trnn5t¢r 2024 unrnrtrfthd Furth Treasurer's A¢¢ount GwhEr•l Fwd GFIIFMQ 7PJ54 cor￿ld11•d6e￿•rf FL I￿.226 215.771 ChurthRethdGroups TrwiureesP19, Bn•w onM*ulknTrirtSdla*)IW4fA1tho rwrnedthe p￿￿ry￿￿￿oIsC•¢I•nd CommuNtyYOuth upto•ThJlnduttthithe4yof Stssth)C*rt *fvJ Titl￿*￿p￿t0￿Ctr￿o1SCth￿l1knn¢￿4lh rffieMherTiu5teefr￿￿prtlOthryc￿U1th f>fSL*ti•hd 4l•ted •nd ele(ied•i ¢￿A￿U•ll￿At￿l Wrylor 3￿•r$. The fvnd5 oftho TiuSt•r*t be4ppWftsfthebene1#OtPKlo(MfCl￿th ofknw1rA￿ith￿EpreI￿thretQfhetQIe¢￿nlto￿ntrIfrtrt*, womoté, 1g#¢r. enrrtyr•y.fvrthe¢oriXWstberti (h•1t•bl*oKpoxsccffjneoedtoPttbthryChJrth ofScotlMd ￿llt4 Tho b4**4l¥p*TnM ￿013ts[ Dw4rr*r3024 L414%S3812023." ÉSL5131. AddttwFy￿ 1S••App•ndh 11 pti MotEO on•noboXTruA*IM41*￿j shhe4ppeal ChurthofScotWGenernlChwMy Chi￿11¥n5￿1n5t Pa￿rty Senh)rOtkeMCommunty& 211 TOTAL L450 IB APPENDIX I FUNDS HELO ON BEHALF OF THE CONGREGAnoN BY THE CHURCH OF SCOTLAND GENERAL TRusfEES YEAR ENDED 31 OECEMBER 2024 2024 2023 CAPITAL ACCOUNT Deposit Fund Growth Fund Income Fund Opening Cost 591 8,352 4.354 13,297 591 11.151 9.576 21,318 CAPITAL ACCOUNT Openln8 Cost Realised Gain on sale of 803 Growth Fund Unbts Realised10s5 on sale of 460 Income Flbnd Units Transfer to Pitlochry Church of kotland re Tryst heatin8 Closln8 Cost 21,318 2.200 221 21,318 13,297 21,318 Market Value at 31 December Deposlt Fund Growth Fund - 2,392 Units (2023.. 3,195 units) Income Fund- 383 Units 12023.. 843 unrtsl 598 15,261 591 18,627 9,576 20,095 28,794 Revenue Account Openlng Credlt Balance 1,639 820 Dividends- Growth Fund Income Fund 399 506 383 422 Deposit Account Interest Revenue Interest 21 38 Admlnistratlve Charges 72 45 Revenue Account as of 3tst December 2,614 1.639 Market Value as of 31st December 20,095 28,794 Fund Value as of 31st Ilecember 22.709 30,433 APPENDIX 2 RESTRICTEO FUNDS HELD BYTHE CONGRE&4110N ON BEK4LF OF The C ol S Cominunltyyouth Fynd. frym8th asTHE wrrER8ARWURFUNO YEAR ENOED 31 DECEMBER 2024 2023 COSIT D•ptystt &l•rt• *srfJ•nw•rytsI 165 1926 R*t•¥ts DeP￿tF￿nd lfitetest In¥tstment Income Growth Fund I￿￿5￿)ent IntsN￿e Income Furn1 S•le of IF and GF units 49 114 165 8.031 8.359 17 5M41 Plymefits location of F¥nd& f*ants •ward•d Retum olGraThtfrom disbanded organisati 10,120 10.120 541 1.761 COSIT Depo418•1•￿ 850131s1 Dttember 706 165 Mo¥ementln Yur S•￿0fU￿ts In currentyew Growth Fund 344 unh$12023.. 361 wiisl Growth Fund 328 unllS12023.' 275 units) lthcome Fund 91 unlts12023.. 19) units) i*¢orne Fund- Tril units12023.. 96 unitsl Income Fund- n51 unlts120Z3'. 95 unitsl In￿me Fund- nil units12023.. 49 unitsl 1,975 L502 Lcns 4962 8.031 Irvmim•nts M MwkrtV41u• COSThGrowth Fund 8IF asofjènuary Isi COSIT In¢ome Fund &IF as of January tst 7,C63 S.502 12.565 NetfjalnllLossl m rnvalu•iiw for >*•r 47 381 Cknln8 Balance of lundstarrltd 706 Value tyl Funds h*d •sof 31 DK•mbw COSITGrovAh fvjnd COSIT Income Fund COSIT Dep05¢(Account Totsl 3.918 997 165 7L 706 NoTru5tee rereNed any rernunevatyw or reimbur5ementof expen5e5 during the year. NoTru5tee ora person rel•ted toa Trustee persM¥l interesi im •mi contr•CttytrdT*a¢don entered nto by the charlty durfn8 ihe year. There may bE miTh)r dI%￿P￿r￿JE5 in the lotslsrfthE pentsare not bEin8slwi