Wardie Parish Church of Scotland, Edinburgh Trustees, Report and Financial Statements for the year ended 31 December 2024 Congregatlon No: 010055 Scottish Charity No: SC 008710
Contents Page Trustees, Annual Report 3-12 Truslees. Responsibilities in r6lation to the Financial Statements 13 Report of the Independent Examiner 14 Statement of Financial Activities 15 Balance Sheet 16 Accounting Policies 17-18 Notes lo the Financial Statements 19-30
Wardie Parish Church of Scotland, Edlnburgh Trustees, Annual Report Year ended 31 December 2024 The TrusÉees present the annual report and financial statements for the charity, Wardie Parish Church (thè church) for the year ended 31 December 2024. The financial ststements have been prepared in accordance with the accounting policies sel out on pages 17 to 18 of the accounts and Gomply with the General Assembly Regulations for Congregational Finan¢8, the Charities and Trustee Investment (Scolland) Act 2005. the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their a¢Gounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Objectives and Actlvlties The Church of Scotland is Trinitarian in doclrine, reformed in tradition and Presbyterian in polity. It exists to glorify God and lo work for the advancemenl of Christ's Kingdom throughout the world. As a national church, it acknowledges a distinctive call and duty to bring the ordinan$ of religion to the people in every parish of Scotland through a territorial ministry. It co-operates with other churches in various ecumenical bodies in Scotland and beyond. Th8 church serves the local Church of Scotland Parish of Wardie. having 88 a central aim the bringing of people to faith in J6sus Christ as Saviour and Lord. The Minister undertook the supervision of one candidate for the ministry and one reader in training, and they added lo the life and work of the church. A prayer corner was set up in the church sanctuary and 8 weekly quiet space was offered during adv8nt. Our minister continues to go Into our local school, 8nd Ihey also use the church for services and a concert. The noticeboards outside keep people infomied and the website is regularly updated. A weekly e-newsletter is circulated wilh paper copies available as requested. The biennial Gala was organised with potential involvement from many local groups and craft workers. Unfortunately, due to extreme weather this had to be reloc8ted to the church but a large number of people came to listen to the brass band and buy a barbecLted lunch. There ware a reduced number of stalls in the main hall. The Congregation m8t over soup after church one Sunday In January. During Lent there was a Sunday evening reflection. On Easter day there was an open-air early morning. Gommunion in the church garden, a congregational breakfast and an all-age service. A Friday morning pray8r rneeting instigated by the minister is a regular part of the week. W8 had a meeting in May to infomi the congregation aboLrt our finances and other activities. During Christi8n Aid we8k w8 had a bread and cheese lunch with home baking and plant stslls. The lea-party for older members of the congregation was held again in June and much appreciated. The walking group operated for the full calendar year, as did the ever~popular genlle walking group. The Guild is very well supported and 'coffee bothy, sessions every fortnight span the summer months when the Guild does not meet. A men's group meets and organises Ihe very popular 'sporting conversations, with a well-known guesl. The Thursday Toddler Group continues to be fully subscribgd and our addilional dropin toddler sessions on Tuesday momings have sleadily increased in numbers. Thinking missionally, during the summer months we continued lo offer our Tuesday morning drop-in toddlers session which proved very popular. By way of outreach, we added into the mornings, a short age-appropriate alternative act of worship which consisled of a simple bible story. Interactive songs and a prayer. A Family Valentine Day was held in February. The Summer Hollday Club In July wa8 received with enthusiasm. This was follow8d by Messy ChurGh afternoons in October and December. A grant from the Mission Fund provided an internship for an assistant youlh over
Objectlves and Activities (continued) the summer to help with iniliatives for young people, working for 12 hours a week over 11 weeks. A Saturday Club is provided lor younger teens. There was a residential weekend away for Ihe young people at Pilton Retreat. Kldz@Wardie offers activities on Sunday mornings. The church also maintained strong links with other charitable organisations within Scotland and further afield. The session approved collections for local charities Fresh Start and Bethany locally addressing social justice and homelessness and Edinburgh Direct Aid Intemational for work in Gaza, Lebanon and Ukraine. The congregation was encouraged to make their own donations online and through church collections and through information given in the newsletter. Shoe box6$ Gonlinued to be filled for Blythswood. A church team regularty volunteers with Fresh Start and Ih8re is a collection point in the church for the foodbank and household items. We also hosted a Fresh Start afternoon collecting suitable items for the scheme and eight car108ds of donations were taken to the distribution centr6. Individuals continued to work with Edinburgh Street Pastors. Th6 Annual collection of gifts for the children of prisoners in Saughton Prison was generously supported and th6 offi¢er who organised this came to speak to us. A coffee and a bake sale raised a sizeable contribution for Tearfund (Toilet Twinning) in Malawi and Soulh Sudan funded a total of nine toilets. Trustees are signatories to the Scottish Government Clirnate Change Pledge for Communities. We annually review our sustainability strategy. The halls continue to be let for a substantial amount of time and hall users are made awar6 of our policies on wastelrecy¢ling and plastic I carbon emissions reduction. The halls continue to be let for a substantial amount of time. The property requires conslant maintenance which runs a fully funded scheduled programme. There were the usual fire and emergency checks, including the defibrillator, the fire appliances and electrical equipment. Extra meetings were held by the Truslees to discuss Ihe Presbytery Plan. At a December meeting, the Kirk Session voled unanimously against lh8 proposed deferred union with Granlon Parish Church and in favour of conlinuing to work collaboralively across Ihe mission district. There was a strong feeling al the Session meeting that new leadership from Presbytery is required for progress lo be made and other options to be considered that will most certainly be the case by 202812030 which is the time sca18 rel8vant to Wardie due to the minister's retiral. Nine Kirk Session meetings were held. Our committee structure was vised. The list of people who require PVG registrations has been revised in the light of new guidanGe. Communication management, IT support, administralive management, oversight of hall bookings and property maintenance, are overseen by volunteers assisted by a paid administrator three mornings a week. A coffee morning gifl day was org8nised and raised a healthy amount, ahead of the full stewardship activities to encourage highgr regular giving. The Treasurer manages all the accounts, but Pensions and Payroll are outsourced. One of the Joint Session Clerks is a joint signatory. Data prolection is embedded in Ihe congregation with a Data Retention Policy, Privacy Notice for the Congregation, and a Privacy Notice for staff. We formally record our sincere and grateful thanks to all such volunteers, both elders and those not ordained to eldership. This r8port demonstrates the volunteers, continued commitment to their work in the church community and for the local and wider community.
Financial Review statément of Flnanclal Affairs: 2024 ended with an overall surplus over all funds of £3,940 {2023.. £25,535) based on total income of £164,583 {2023., £185,149) and total expenditure of £166,206 (2023.. £166,395). Of more immediate relevance, the General Fund (Unrestricted and not Designated) which is the principal fund used for the church's 'business as usual, aclivlty and which is reported quarterly throughout the year, ended 2024 with a small deficit of £761 {2023.. £22,548). This deficit was significantly reduced by a fund raising event held on 14 December 2024 which, together with Grfl Aid reclaimed, raised £8,969. Last year, the General Fund was flattered by three unrestricted Legacies amounting to £36,521 received during the year which, but for these eXptIonal items, would otherwise have resulted in an operating deficit of £8,949. Income. Total income was £164.583, £20,566 (11.20> lower Ihan last year (2023.. £185,149) but once unrestricted Legacies have been excluded from both Ihe years it was £15,955 (10.70hl higher than last year (2023: £148,628). It is still, however. well below pre-coronavirus pandemic (Covid-19) levels in 2019 (£190,884). Donations and L acies.. Offerings (Gift Aid) £79,226 were slightly (£2,685) lower than last year (2023.. £81,911 } but Tax recovered on Gifl Aid was £4,653 higher (2023= £20,219) largely due to claims being made under the Gift Aid Sm811 Donalions Scheme (GASDS) for previous years (April 2021 to December 2023} amounting to £1,141 as w811 as for the current year (£1,588). Offerings (Op6n Platel more than doubled to £5,102 (2023.. £2,230) following the SUCssful reintroduction of passing the offerfng bag during each church seryice. After receiving Ihr8e unrestricted legacies lasl year amountlng to £36.521, no new legacies were received during the course of 2024. As the Kirk Session's view is that unrestricted Legacies should not be used to subsidise 'business as usual, expendilure, nor reduce deficits bul instead be treated as exceptional income to be applied towards specific projectslpurposes, a separat8 designaled fund has been established and the accrued value of all unspent Legacies {£53,953) has been transferred to it pending consideration by the Kirk Session of appropriate projeclslpurposes. oth6r donations were £1,532 lower than last year (2023.. £15,099). Income from Charitable Actlvitles-. There was one wedding and five funerals which was significantly more than last year (2023.. 0 weddings and 1 funeral>. Use of the church premises rose £1,034 {6.6% } to £16,625 (2023= £15.591). Whilst il has not yel recovered to pre-covid 19 levels (£17,971), sleady progress is being made and new users hav8 been attracted to use the churGh's facilities. As already mentioned, a fund raising event was held on 14 December 2024 which. together with Gift Aid reclaimed, raised £8,969. This made a significant impact to reduce the operating deficit on the General Fund to £76112ff23.. £8,949 deficit). Incom8 from other Tradin Adivities.. Not surprisingly following the winding up of a number of fund raising organisations during 2023 (Tilda Mission Hospitsl, Traidcraft Exchange, Open Door, Wardie Players), Regular Fund Raising of £2,454 was less than half last year's total (2023.. £5,424). Wardi9 Guild raised £2.104 (2023., £1,832} for various good causes as set out more fully in Note 15 and the bl- annual Wardi¢ Community Gala raised £350 in sponsorship. Investment Income.. The increase of Dividends Received and Deposit Interest lo £8,482 (2023- £6,069) reflected the improved market conditions and higher rates of interest available.
Financial Review (continued) Other Income.. The church claimed three granls in 2024.. £850 from Church of Scotland for Seeds for Growth. £1,000 from Edinburgh and West Lothian Presbytery towards the costs of an assistant youth worker internship over the summer; and £500 from Church of Scotland for equipment for the Mothers and Toddlers Group (2023.. £Nil}. The church also made a successful insurance claim (£770) following damage sustained to one of Ihe stained glass windows. Expendituro: Expenditure was £166,206, marginally {£189) lowèr than last year (2023: £166,395). Givin lo Grow fomierl Ministries & Mission Allocation: The church's contribution to Church of Scotland Giving to Grow (formerly called Ministries & Missions) (its principal charitable purposel was £67,674, £5,952 (8.OVo} Eess than last y8ar (2023-. £73,626}. Presb Dues: The 18vel of expenditure was £1.269 {2023.. £1,331) as assessed by Edinburgh and West Lothian Presbytery. Minister's Ex enses: The funding of the provision and running costs of trar)sport for a minister is dealt with cenlrally by the Church of Scotland and the Ghurch pays an allowance of £80 per month towards it as part of Ministerfs Expenses. Sala Costs.. Employment costs were £42.280, £3,175 (8.1 Oh) higher than last year (2023= £39,105). This was due to the annual pay increase for all members of staff (5,/0 except for the cleaner who received the Real Living Wage) and the provision of {il an assistant youth worker internship over the summer and (li) an assislant youth worker to help out wilh the Saturday Club on an ad hoc basis. Fabric Re airsJMaintenance'. Expenditure of £14,796 (2023.. £17,039} was incurred by the Property group on essential annual maintenanGe and repairs of the churchlhalls and Ihe manse. It was £2,243 lower than lasl year but still £2,2g6 above Budget (£12,500). In addition to the usual annual maintenance, work carried oul included joinery repalrs to the Netherby Road door,. alterations to the Iow8r hallway cupboard- plaster repairs, refitting of radiators and redecoration of the Upper Hall. installation of 4 pandrop surface fittings to the vestry,. and repairs to slained glass windows {of which £770 was recovered under an insurance claim). Works to the manse included the redecoration of the hall, staircase and one of the bedrooms- installalion of a new llIng in the cupboard under the stairs-, and replacement of kitchen lighting. The expendlture incurred does not include the time, talent and skills of the Property group and othèrs, whose collective contribution should be acknowledged, along with the congregation's gratitude. Council Tax: Council Tax was £3,738, effeclively the same as lasl year {2023.. £3,727). Heatin &Li htin The gas and electricity used to heat and Ilght the church and halls (£9,342) was virtually double the cost last year (2023-. £4,719). The fuel contracts for gas and electricity are with the suppliers idenlified by Church of Scotland cenlrally and, despite the large market increases of the cost of gas and electricity during 202113, the unit costs of bolh were fixed and therefore remained unchanged until the electricity contract expired on 30 Seplember 2023 and the gas contract on 31 March 2024.
Financial Review (continued) After a competitive tender process, new electricity and gas contracts were negotiated and have now been &ntered into by Church of Scotland centrally with e.on Next, in terms of which the average increase of the cost of electricity is 980/0 and 105Yo for gas. These new contracts each fix the oosts of electricity and gas for two years until 30 September 2025 and 31 March 2026 respeclively. Water.. Once again. the church succ8ssfully claimed 100¥o exemption from the Scottish Government for the water, waste water and drainage charges for Ihe church and hall buildings because its income is below the prescribed threshold. Church Offi'ce Ex enses.. Expenditure on Printing & Stationery and Photocopying was £552 hlgh6r than last year (2023.. £2,366) reflecting the increased use of materials and the church's photocopier for activities of the church. Computer Supplies are £511 higher than lasl yèar {2023.. £355} but include the costs of Microsoft 365 licences (£4641 which related to previous years {2022123). an and Music: The expenditure was slightly (£93) higher than 2023 prlncipally to the Increased costs of the CCLI licences. ui m8nt. The expendilur6 of £2,126 was for a new desk and pedestal for the Ghurch office. two new Sumup (remole debiucredit card) machines. and the installation of WiFi lo the Main Hall, all of which were funded from the Equipmenl Fund. A new sounder mixer and speaker system was funded from the Haddow Fund. Youth Grou s.. The increase of expenditure lo £745 (2023.. £141 } reflects the re-establishment of Messy ChurGh and also a weekend away at Pilton Retreat. The Saturday Club expendilure includes the lasl quarterfs expenses of 2023 which wer6 submitted after last year's financial statements had been prepared. Seeds for Growth: This expenditure is funded by a granl of £850 from Church of Scotland and covers expenses and materials authorised by lh8 grant. Third Part Donations- The donations raised for third parties was £3,232 {2023.. £6,784), detsils of which ar8 set out in Note 16. The decrease is as a result of a number of congregational organisations (Tild8 Mission Hospital, Traidcraft Exchange, Open Door, Wardie Players) being wound up durin9 2023. Most other controllable costs were in line with Budget and anticipated expenditur8. Balan¢e Sheet: On the balance sheet, total flinds at the end of 2024 amounted to £881,14812023: £877,208). an increase of £3.940. Funds held in cash and at the bank f811 by £3.553 (2023.. £17,734 increase) and stand at a healthy £109,545. There is therefore no immedlate need to draw down from the General Fund's reseNes held with Church of Swtland Investors Trust Income Fund. The Debtors, balance of £8,402 (2023. £6,471 } comprises (i) the quarterfs tax reclaim (to 31 Dernber 2024) due from HMRC Charities which has now been reiVed and lil) thre8 outstanding invoices for the use. of church premises, two of which (£1001 are to the same user and have been OLrtstanding a few months. Payment is being actively pursued. The Creditor's balanGe of £1,140 relates to an accrual for the agreed fee for the independent examination of the financial slatements (2023.. £1,140) which has nol yet been received. Looking Forward: Despite the overall surplus of £3,940 {2023.. £25,535 which included unrestricted Legacies of £36,521), there was still an operating deficit of £1,623. But for the Fund Raising Event on 14 Dember 2024 which raised £8,969, the operating deficit would have been £10,592, £1,643 {18.40/0) higher than last year (2(Y23.. £8,949 deficit). Further. the Budget approved by the Kirk Session in October 2024, envisages an operating deficit of £11,195 for 2025.
Financial Review (continued) The financial position of the church remains strong and it continues to be able to draw on the substantial reserves prudently set aside by it over many years lo meet this deficit. However, running an operating deficit In th6 General Fund at current levels cannol continue indefinitely and, over time, b6comes unsustainable. Whilsl one-off events like Ihe Fund Raising Event on 14 December 2024 can provide temporary relief and there is also the cushion of Ihe unspent unrestricted Legacies, all (or partl of which could, if the Kirk Session so decided. be released to meet 'bu$iness as usual, expendilure without the church's reseNes being eroded further, neither of them address the underlying problem or provide a long-term solution. The principal challenge is nol expenditure tt is tightly controlled. The challenge18S it has for a number of years) remains regular giving. Like many other churches (and the Church of Scotland itself). the church is experiencing a worrying trend of reduced giving over the past few years from approximately £195,000 per annum in 2013. 2014 and 2015 to £116,925, £119,459 and £122,922 in the past three years. Action n6ed8 to be takon to try to address the amount of regular giving if the church wants to maintain its current16vel of activities. Accordingly, Ihe Kirk Session has Concluded that a substantial financial st@W8rdship push will be requirèd during 2025 and has asked a small group to consider the fomi and extent which it should take. Financial responsibility is one of the thrèe pillars of stewardship. It is therefore importanl for all members of the congregation to keep under constant review the amount and regularity of thelr financial contribution, in each case lo the extent that Ihey are able. Inevitably there will be unexpected events as, no doubl, activities and new initiatives will require to be funded but the church should have Gonfidence that, as it currently stands, it is still in a good financial position to me81 Ihem. Investment Policy and Performance The value of the Endowment Funds, all of which are held in the Growth Fund of The Church of Scotland Investors Trust, increased to £58,983 (2023. £54,590). The Endowment Funds therefore show an unrealised gain on revaluatson of £4,80712023.. £3,758) reliecting improved market conditions. The value of the General Fund held in the Income Fund of The Church of Scotland Investors Trust increased by £755 to £83,58012023.. £82,825) which, along with the income reGeived £4.534 (2023.. £3,778} has done much to offset the unrealised loss of c8pitsI (£11,411) Sin the original investment was made. The Income Fund seeks lo provide a high and sustainable income and protect the long-term nomina5 value of capital. This is a long-tenn reserve for the church which uses the income to fund 'business as usual, activities and, as there is no current need to draw on the capital in 2025, there should be suflici@nt timg for any unrealised loss to be reversed. Risk Management The following table sets out the principal risks (o successful achievement of our objectives identrfied by Ihe Trustees and the mitigating actions adopted to address them. Risksl Activt Identlfied atin actions bein taken Investment in youth development work continues to be a strategic priority A part-time Family and Youth D6volopment worker is permanently funded for 30hrs per week A Saturday Club meets once a fortnight to cater for children not avallable on Sunday mornings Addilional leadership is funded to support these Saturda evenin D8clining numbers in the Children and young people
Outre8¢h work with the local school Large Toddler group meets on Thursday mornings Overflow drop-in Toddler group provided on Tuesday mornings Special Family events organized for all ages Hollday Club held in the summer. Need to keep training updated Encouragement lo Trustees and others to lake part in safeguarding training. Predicted increase in pastoral care demands as congregation age profile changes Dedicated pastoral care leam in place providing additional support. Succession planning - need to identify and develop fulure leaders of the congregation Involvement of members of the congregation in the conduct of worship, reading and preparing prayers Leadership roles in the various committees. Robust financial planning, authorization and reporting systems in place Congregalion made aware of reducing finances Gift day to boost congregation's finances. Dependent on voluntary giving as principal source of revenue Inspection and maintenance programme in place which is regularly reviewed and implemenled Bi-annual electrical report undertak8n and plans in place to implement neSSary works Investment in insulation and zoned heatlng system delivering monitored savings in energy consumption All leaded window in Sanctuary refurbished Utilities use monitored monthly. Maintonanc8 of church buildings and manse lo ensure they are fit for purpose and meet all n8cessary statutory obligations. Improve fuel efficiency of buildings to address rising heating costs. Safeguarding officer has completed all the necessary training Minister h88 completed adVand safeguarding training Safeguarding coordinator has reviewed names on the Safeguarding register in the light of new less stringent requirements Online training provided for Safeguarding Regular Monitoring and reporting of PVG compliance. Regular building safety checks. Policies on safe use of the internet and social media., taking youth groups on residential cours8s', and day-trips with youth groups in place Duty of care lo ensure safety of vulnerable people with whom we work.
Consideration of balan¢8 between volunteer support and paid posls Pensions and p8yroll outsourced IT group in place to deal with increased IT needs and needs for IT support Installation of Fibre Broadband lo facilitale use of internel throughout the buildings Dedicated Dala Protection Officer in place Data Retention PoliGy, a Privacy Notice for the Congregation and a Privacy Notice for staff in pla. Successful deliv8ry of our objectives in accordance with increased regulatory requirements, social change and our members, expectations is a continuing and developing challenge. Members receNe a weekly newsletter by email Paper copies of newsletler delivered on request NOt1boardS communicate information clearly to Ihe congregation and community Notice on outside of Church The local community magazine used to advertise more widely to the community for Chrislmas services and other events Congregational Meeting to share infonnation on accounts. Effective communication belween th truste6s, the congrega*lon and the community is integral to success in achieving our objectives Reserves Policy General Fund: The Trustees have considered the reserves required and have taken into account their current and future liabilities. It is the Trustees, policy to hold unreslrict8d res8Nos of at least 6 months, expenditure. At the end of the year, the church held unrestricted funds of £116.358 {2023.. £169,550) in its unrestrict8d Gen6ral Fund which is a decrease of £53,192 (31.4% ) from last year. This d¥fference is effectively made up of the unspent unrestricted legacies (£53,953) which were transferred to Ihe LegaGies Fund. The General Fund r8s8rve represents 8.5 months, {2023.. 8.6 monlhs'l expenditure. Designatèd Funds: In addition, at the end of the year the church held designaled balan$ comprising £55,021 (2023.. £Nil} in the Legacies Fund., £8,282 (2023.. £8,076) in Ihe Fabric Repair Fund and £2,159 (2023.. £3,315) in the Equipment Fund. Church congregational organisalions held funds of £5,780 (2023: £6,429). Further designated funds held rèpres6nt tsngible fixed assets valued at £625.000 {2023.. £625,000) for the manse and garage which were last revalued as 8t 31 December 2016. Restrlcted Funds. At the end of the year. the church also held restricted funds lotaling £9,565 (2023.. £10,248) in the Kirk Session Benevolent FLind, the Nehiork Fund, the Saturday Club (formerly known as Youth & Family Development Fund) and the Flower Fund for the purposes described in Note 15. 10
Structure, Governance and Management Governing Documènt The congregation is a registered charity, number SC008710 and from the 13 July 2017 is administered in accordance with th8 terms of the Unitary Constitution having changed from the Model Deed of Constitution and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland. Recruitment and Appointmont of Trustees Members of the Kirk Session are the charity's trustees (the Trustees}. The Kirk Session members are the elders of the church and are chosen from those members of the church who are Considered to have the appropriate gifts and skills. The minister, who is a rnember of the Kirk Session, is elected by the congregation and inducted by Presbytery. Organisatlonal Structure Certain responsibilities are delegated to the Finance and Property Committees, as appropriate. Th8 Kirk Session met nin6 times in 2024 and is responsible for spiritual and all financial affairs. Reference and Administrative Information The following were members of the Klrk Session during the year 2024 and up to the dale of signing of the rinancial slalements.. Principal Office-bearers: Minister: Joint Session Clerk$-. Church Treasurer- Principal Offl¢• Contact Address..
Charlty Registration Numbor: SC008710 Congregation Number: 010055 Independent Examiner. Hollis Accounting Limited 3 Melville Crescent, Edinburgh EH3 7HW. Bankers: Bank of Scotland 43 Comely Bank, Edinburgh EH4 1AF. 12
Wardie Parish Church of Scotland, Edinburgh Trustees, Responslbilities in relation to the Financial Statements The Trustees are responsible for preparing a trustees, annual report and financlal statements in accordance with applicable law and United Kingdom AcGounling Slandards (United Kingdom Generally A¢pted Accounting Pra¢lice)- The law applicable lo charities in Scotland requires the Trustees to prepare financial statèments for each year whiGh show a true and fair view of the state of affairs of the church and of the incoming resources and application of resources, of the church for that period. In preparing the financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently: observe the method and principles in the applicable Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards and statoments of recommended practice have been followed, subject to any departures disclosed and explained in the financial slatemenls,. prepare the fi'nancial statements on the going cOnrn basis unless it is inappropriate to presume that th6 church will continue in operational exlstence. The Truste8s are responsible for keeping proper accounting records which disdose with reasonable accuracy at any time the financial position of the church and to enable them to ensure that the financial statements cornply with the Charilies and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for th8 Maintenan and integrily of the church and financial infomiation on the congregation's website. Legislatlon In the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by th8 Trustees and signed on thelr behalf oin Date . 13
Wardie Parish Church of Scotland, Edinburgh Independent Examiner's Report to the Trustees of Wardie Parlsh Church I report on the accounts of the church for the year ended 31 December 2024 which are set out on pages 15 to 30. RespectFve responsibilrties of Trust•es and examiner The Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland} Act 2005 and the Charities Accounts (Scolland) Regulations 2006 (as amended). The Trustees consider thal the audit requirem&nt of Regulation 10(1 } (a) to (c) of the Accounts Regulations does not apply. 11 is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whelher partioular matters have come to my attention. Basis of Independant èxaminerfs 8tat•mont My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scolland) Regulations 20061as amended). An examination includes a review of the accountir)g records kept by the church and a comparison of the aGcounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeks explanations from the Trustees conceming any such malters. The prOdr&S undertaken do not provid6 all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the v16w glven by the accounts. Indèpèndent examlner's Statement In the course of my examlnatlon, no matter has come to my attenlion: whioh gives me reasonable cause to believe that in any material respect the requlrements: to keep accounting re¢ords in accordance wlth Section 44(1) la) of the 2005 Aot and Regulation 4 of the 2006 Accounts Regulations (as amended). and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been mel, or 2. to which, In my opinion, attention should be drawn in order lo enable a proper understanding of the accounts to be reached. Address: Hollis Accounting Limited 3 Melville CreSnt Edinburgh EH3 7HW Date: i &131 14
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Wardie Parish Church of Scotland, Edinburgh Accounting Pollcies Tho principal accounling policies, which have been applied consistently in the current and preceding y6ar in dealing with items which are considered malerial to the acGounls, are set out bolow. Basis of preparation The financial statements have been prepared in accordance with the Slatement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRSI 02), the Charities and Trustee Investment {Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). TFie church constitutes a public bènèfit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about Ihe church's ability to continue as a going Concern because sufficipnt funds are available to cover any foreseen shortfall. Fund accounting Funds are classified a$ either restricted funds, unrestricted or endowment funds, defined as follows.. Restricted funds are funds subject to specifsc requirements as to their use which may be declared by the donor or WFth their authority or created through legal processes, but still within the wider objects of the church. Endowmont funds are funds which have been given on the condition Ihat the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the church. Unrestrictèd funds are expendable at th6 discretion of the Trustees in furtheran of the objects of the church. If parts of the unrestricted funds are eamarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund, This designation has an administrative purpose only and does nol legally restricl the Trustees, discretion lo apply the fund. Income Income is recognised when the church has entitlemenl to the funds, any performance conditions attached to the item{sl of income have been met, tt is probable that the income will be received and the amount can be measured reliably. Donated services and facilities Donated professional 5erviGes and donated facilities are reGognised as income when the church has control over the item, any condilions associated with the donated item have been met. the receipt of economic benefit from the use by the church of the item is probable and that econornic benefit can be measured reliably. In accordance wilh the Charities SORP {FRS102) the general volunteer time of congregation members is not recognised. On receipt, donated professional services and donated facilitles are recognised on the basis of the value of the gift to the church which is the amount the church would have been willing to pay to obtain servic6s or facilities of equivalent economic b8n8fit on th6 open market,. a corresponding amount is Ihen recognised as expenditure in the period of receipt. 17
Wardie Parish Church of Scotland, Edinburgh Accounting Policies (continued) Interest receivabl8 Interest on funds held on d6posFÈ is included when receivable and the amount can b8 measured reliably by the church., this is normally on notification of the interest paid or payable by Ihe bank. Fixed Assots The ¢hur¢h manse and garage are included in the accounts ba88d on a valuation obtained by the Trustees at 31 Dernber 2016. In accordance with FRS 102, the Trustees have decided that the church manse and garage do not need to be revalued ev8ry year but can be revalued at reasonable periodic Inteal8. These properties are not depreciated as Ihe Twstees are confident that the current market value of them is in line with the valuation. The church and halls are excluded from the accounts as the Trustees are of the opinion that a reliable valuation of the properties cannot b6 obtained. Expenditure incurred on the repair and mainlenance of these assets is charged as expendlture in the Statement of Financial Activities In the period in which the liability arises. All olher fixed assets costing in excess of £10,000 and having a value to the church greater than on8 year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straight-line basis to wrile off the cost or inilial value, less residual value, of tangible fixed assets over th8ir estimated useful lives: Fixtures, frttings and office equipment Organ 4 years 10 years Investmonts Fixed asset investments are stated at market value at the balance sheet dat6. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the differenc6 between the proceeds on disposal and the market value at Ihe start of the year or cost rf purchased in the year. Taxation Wardie Parfsh Church of Scotland, Edinburgh is recogriised as a Charity for the purposes of applicable taxation legislation and is th6rèfore not subject to taxation on its charitable aotivities. The church is not registered for VAT and 8xperFditure therefore includes irrecoverable input VAT. 18
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Wardie Parlsh Church of Scotland, Edlnburgh Notes fonning part of the financial statements for the year ended 31 December 2024 2024 2023 7 Staff costs and numbers Salaries and wages Locum salary Soclal security cosls Pension cost$ Total 41,885 38,753 395 352 39,105 The average number of employees during the year, calculated on the basis of a head count wss as follows.. 2024 2023 Numbor Number Familylyouth Development Admlnistration Music stsff Premises maintenance No employee had employment benefits In excess of £60.000 {2Q23.. £Nil). All Church of Scotland congregations contribute to the National Stipend Fund which bears the costs of all ministers, stipends and employer's contributions for national insuranoe, pension and hovsing arEd loan fund. Ministers, stipends are paid in accordance with the national 51ipend scale. which is related to years of service. For the year under review the minimum stipend was £31,642 12023.. £30,135) and the maximum stipend {111 the fifth 8nd subsequent years) £38.884 12023.. £37.032). 8 Trustee Romuneratitsn and R¢lat¢d Party Tran$a¢tions During the year, 7 {2023-. 7) Trustees recelved reimbursement of expenses as follows: In addition, the following Trustees lor 8 person related lo a Trusleel received a salaryfor providing servlces during the year.. Truste £6,855 (2023.. £6,328} as organist. and Person related to a Trustee.. £2,240 {2023- £1,516) as church officer. 23
Wardie Parish Church of Scotland, Edlnburgh Notes forming part of the financial statements for tho yoar onded 31 December 2024 8 Trustee Remuneration and Related Party Transaetlons l¢ont.I A contract to inslalvfil WiFi to the Main Hall amounting lo £626 was awarded on a commeroial basis lo Embrace Technologies Limited {trading as HUbbbI, a company owned by the spouse of a Trustee. The Trustee reclused herse l)olh from the decision to award the contract and from its implementation and supervision, During the year a total of £30.03512023.. £25,692) was donated lo the church by Trustees. g Tanglbl8 Flxad Assets Central Healing System Man$e & Garage Audlo Visual Total 2024 Organ Cost or Valuation At 1 January 2024 AddilionsllDisposalsl At 31 December 2024 625.000 25,098 29,953 25,304 705,355 625,000 25,304 705 355 Accumulated Depreciation At 1 January 2024 Charge for year Al 31 Dember 2024 25.098 29,953 25,304 80.355 29,953 25.304 80,355 Net Book Valu At 31 December 2024 625 000 625 000 2023 C08t or Valuatlon At 1 January 2023 Addilionsl(Disposalsl At 31 December 2023 625,000 25,098 29,953 25,304 705.355 625 000 25,304 705.355 Accumulated Doproclatlon Al 1 January 2023 Charge for year At 31 December 2023 25,098 29,953 25,304 80,355 N6t Book Valu¢ At 31 December 2023 625.000 625,000 24
Wardie Parish Church of Scotland, Edinburgh Notes fomiing part of the financial statements for the year ended 31 December 2024 10 Investments 2024 2023 Market value al l January Investments addition {disposal} Unrealised gainl(lossl on investments M8rket value al 31 December 133,779 126,998 5,562 139,341 133.77C Investments al ¢081 123,968 123 96e The following investm6rFls are held with the Church of Sco112nd Investors Trust Growth Fund (very largely global equity-ba5ed and profes8ionally managed by Newton Investment Management Limited, based in London).. Markèt Value 2024 Market Value 2023 Unlt8 held asat 31 Dèc Sunday School Prlze Fn Mr & Mrs Black's Fund Thanksgiving Fund Haddow Ftjnd Total 619 1,256 3,356 3,509 3,949 8.013 21,411 20,45e 50,954 55.761 The following investments are held with the Church of ScotlarHJ Investors Trust Income Fund which is intended for medium-lerm investment and aims lo provide a high and sustainable income and proteol the long-lerm nominal value of capital with funds invested predominantly in fixed-Inl8resl bonds both in UK and globally (professionally managed by Royal London Asset Management Limited, based in London)-. Units held Market Market Value asat Value 31 Dec 2024 2023 General Fund 7.557 82,825 82,825 Total 7,557 83,580 11 Debtors 2024 2023 Grfi Aid Tax Refund Due 8,122 280 5,351 Other Debtors 6,471 12 Creditors 2024 2023 Accruals Other Creditors 1,140 1,140 1,140 1,140 25
Wardie Parish Church of Scotland, Edinburgh Notes formlng part of the flnanclal statements for the year ended 31 December 2024 13 Analysis of Npt Assots Among Funds General Designated Restrleted Endowment Total 2024 Fixod Assets Investments Current Assets Current Liabilities Net assets at 31 Dec 2024 625,000 625,000 139,341 117,947 1,140 881,148 83,580 33,918 1,140 116,358 56,761 3,222 78,242 9.565 696,242 58,983 2023 Fixed Assets Investments Current Assets Current Liabilllios Net assets at 31 Dec 2023 625,0(10 625,000 133.779 119,569 82,825 87.865 1,140 169,550 50,954 3,636 17,820 10,248 642.820 10,248 54,590 877,208 14 Voluntggrs In common with all congregations of the Church of Scotland, the congregation benefits from the conlributiorn Mle by volunteers who give their lime and talents willingly for the benefit of the Church. The areas of congregational lrfe which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were il not for the commitment shown. 26
Wardie Parish Church of Scotland, Edinburgh Notes forming part of the financial statements for the year ended 31 December 2024 15 Movements In Funds At1 January 2024 Unreallsgd Transfers Gainsl Inl(out) (Lossgs) At31 Dgcember 2024 Income Expenditure End0ent funds Sunday School Prize Fund (Wm. Armet Memorial. Flint M@mori81, Rev. Rennie Memorial) Mr & Mrs Black's Fund Thanksgiving Fund Haddow Fund 3,609 7,322 19,565 84 170 453 473 1,180 1841 1170) 1226) 340 691 1,846 1,930 4,807 3,949 8,013 21,411 25,610 58,983 12271 887 1.114 480 Rèstricted funds Kirk Session Benevolent Fund Network Fund Saturday Club lex-youth & Family Development) Flower Fund Tllda Fund 647 5,634 16 138 63 5,772 3,328 639 50 115 (860) (142) 2,518 612 10.248 319 1,002 Unrestricted funds General Fund 169,550 153,001 1157,608) {49,341 } 756 116.358 Desi nated Funds.. Manse Garage FaLiri¢ Repair Fund LegacSes Equlpment Fund Wardie Players Wardie Guild Open Door Mothersrroddlers Group Banner Group Wardie Traidcraft Wardie Church Garden Wardie Community Gala 600,000 25,000 8,076 600,000 25,000 8,282 55,021 2,159 206 1,068 83 53,953 3,315 11,239) 1,884 4,925 13,479) 11.3001 2,030 2,878 312 2,239 1845) 12.2221 2,050 312 48 40 1,522 163.084 88 1.300 812.600 919 164 0901. 610 480 812 370 756 Total funds 877 208 164.583 881.148 Fund Transfers.. Transfers from Ihe Endowment funds represent income reiVed whsch can bè used fiw the purposes noted below. Other fund transfers in the year ere agreed by the Trustees and are elther from the General Fund to Restricted or Desunated funds foT the relevant purpose, or repres6nt contributions fmm conggatiOnal organi5ations to the gener81 work of the thurch. 27
Wardle Parlsh Church of Scotland, Edinburgh Notes foming part of the financial statements for the year ended 31 December 2024 15 Movements In Funds {continu¢d) Pur 08es of Endowment Funds: Income from the Sunday School Prize Fund is to be used lo provide Sunday School awards. Income from Mr and Mrs 81ack's Fund is to be an ongoing offering lo the General Fund. Income from th& Thanksglving Fund Is to be shared UallY between the General Fund and The Church of Scotland Mission and Renewal Fund. In¢ome from the Haddow FLtnd Is to be used to support the Christian development of children and young people. Pur oses of Rostrictod Funds: Kirk Session Benevolent Fund: To be* used al the discretion of the Mlnlster for charitable purposes. Network Fund.. To meet the costs of providing suitab16 off-site accommodation for Wardle Network aclwity andjor subsidising the costs of attending such evenls. Saturday Club (formerly called Youth & Family Development Fund).. To support and develop youth and family work within the church. Flower Fund.. To provide flowers for church services. Tilda Fund.. To support the Mission H08pilal, Tllda, North India. This fund was closed durlng 2023. Pur oses of Desi nated Funds: Man5e- To retlect the value of the manse as al 31 December 2016. Garage., To reflect the value of the garage as al 31 December 2016. Fabric Repair Fund.. Normal fabric repairs and maintenanc8 are ¢harged lo the General Fund. The Fabric Repair Fund is to meet repair expenditure above the fabric repair budget in each year. ExtraorL1inary improvement or projects are met by spocial funding efforts. Equlpmenl Fund.. To provide or replace church equipment. Wardie Players.. To meet expenses of local productions presented by the Players. This fund was c108ed during 2023. W8rdie Gulld.. To support GLfild community and Charitable actDltty. Open Door: To support group (x)mmunlty and charitable activity. This fund was closed during 2023. MothersOddIers Group {formerty called Toddler Group).. To provide outreach in the mMUnIty. Banner Group.. To support the provision of creallve materials to enhance worship. Wardie Traid¢raft-. To provlde a regular stall fio encourage fair tradlng. This fvnd was closed during 2023. Wardie Church Garden: To organise and support the care of the church's garden. Wardie Community Gala.. To organise and support the bi-annual Wardle Community Gata. Legaci88'. To reflect the vallte of reslricled and unrestricted Legacies received, pending consideration by the Kirk Session of appropriate projectslpurposes. 28
Wardle Parlsh Church of Scotland, Edinburgh Notes forming part of the financial statements for the year ended 31 December 2024 15 Movemonts In Funds {contlnued) At1 January 2023 Unrealised Transfers Galnsl Inllout) (Lossos) At31 December 2023 In¢omo Expendlture Endowment funds Sunday School Prize Fund (Wm. Armel Memorial, Flint Memorial, Rev. Rennie Memorial) Mr & Mrs Black's Fund Thanksgiving Fund Haddow Fund 3,343 6,782 18,122 22,164 74 151 403 421 1.049 {741 1151) (2021 268 540 1,443 1,509 3,609 7,322 19,565 12011 201 427 Restrlcted funds Kirk Sossion Benevolent Fund Network Fund Saturday CluL) {ex-Youth & Family D8velopmenl) Flower Fund Tilda Fund 647 5.634 5,602 32 3,719 781 695 11.440 (3911 12771 3,746 3.328 639 135 3.051 10,248 Unrestrlcted funds Gerwal Fund 141,978 173,493 1156,237) 7,293 3,023 169,5SO Desi naled Funds.- Manse Garage Fabric Repalr Fund Legacies Equipment Fund Wardie Players Wardie Guild Open Door others]Toddlers Group Banner Group Wardie Traidcraft Wardie Church Garden Wardie Communtty Gala 600,000 25,000 12.544 600.000 25.000 8,076 71 14,539) 3,788 1.372 2,005 283 702 126 423 22 28 4,660 {495} 1900} {3,537} 11121 12531 3,315 (5001 11,2441 1171) 1.884 2,429 130 45 2.878 312 56 (4681 12461 1,307 789.822 1.307 812,370 180 878 161780 427 3,023 Total funds 851,673 185 149 166,395 6,781 877 208 29
Wardie Parish Church of Scotland, Edlnburgh Notes formlng part of the financial statèments for the year ended 31 December 2024 16 Collections for Thlrd Parties Edlnburgh Direct Aid {Reliring Collections and Wardle Gulld) Fresh Start {Scotl8rKII (Wardie Community Gala) Edinburgh Street Pastors (W2r(Ile Gtslld) Starchild Iwardie Guild) Bethany Christian Trust {Retiring Collections) Disasters Emergency Committee (Alternative Gifts for Christmas) Sunflower Garden (Wardie Guild) People Know How (Allernative Gifts for Christmas) Church of Scotland (Thanksgiving Endowmenll Tilda Misslon Hospital {Pennies for Tilda) Blelher wlth Beal (Wardie Guild) Heart of Newhaven (Open Door) 2024 2023 1,010 680 1,106 50 480 650 650 250 428 844 386 403 350 227 201 3,746 547 56 7.683 30