Charily reg istratioii Iiuniber SC008760 Iscotlandl SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND LEGAL AND ADMINISTRATIVE INFORMATION Board Of Management Nomlnated by the members Nominated by the General Assembly of the Church of Scotland Charity number ISGOtland) COO8 IGO Princlpal offl¢e Quay 2 139 Founlainbridge. Edinburgh EH3 90G Secretaries and Treasurer5 Azels Quay 2 139 Fountainbridge FH3 90G Ind•p8ndent Examiner Chiene & Tail LLP IlradiriiJ ds fTI ClidilLILiiJ ALciJuiilaiils (*iid Iiide'rJerideiil Ex¢ltninc.r 61 Dijbliii SlicLI EHJ +iNL 8ankers Cater Allen Bank 9 Nelson Street. Bradford RD1 SAN Solicilors -pie MacAndrew LLP 5 Alholl Cre5cenl EH3 8EJ Investment Advisors Barclays Vveallh 11 Melville Crescent Edinburgh EH3 7LU SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND CONTENTS Page Bcaid Nlenibers, reporl In￿ependerl eXa￿l￿eT's report Slalemenl of financial activities Balance sheet Noles to the finaiicial statemen15 9-16 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND BOARD MEMBERS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Board ol ￿lIanagement present Ikeii annual report and hnail cial staternerts lor tre year erded J1 December 2024 The financial statements iave bèen prepa'ea In accoraance wilh the a-counling policie5 set out li iole 1 to the fin3ncial slalement5 8r.d ¢oNplv Vblth the Society's -)nslrtJtion the Ch2rilies and Trustee Investmeil ISc(>tl of the Churck, of Scotland No"mally the ber&ficiai1èS a-, e bet,veen 12 ano £5 years ?f age. Grant5 ar m¢de from the sub¥id arv funds for lie support ?f bnmairied and w dc.hved daughters and unmarriea daughters and s15tars ov&1 forty.. ol oraaineG ministe"s ol lie Church ol Scotl&nd. preference being given lo lie a9ed and Infirrm. Thg Socielv is advertise- Is'idely among minister< ol the Church jf Scoii8nd Tme grant making po ify gives Drefe"erce 10 thc.se with a low family Income A standard aFplI￿ali0r form Is used and applications are revie¥veJ against Jredetermined cr tena. Achievements and performance eneral edLJcalion grant> Ic sappor. 14 Irdi'iidJa s. ranging '.roni 100 10 * 3 35: anc loialling £34 58¥l Niieie made. enabling enhai-ed focus or their studies t)¥ the IiidividLi21> uoncerned '2023 13 ,.iid vida2ls. gran1q 'anging '. rom £100 ',0 r3,i5i, total Inc £31.51 Jl. Graiits Nvere Increased in the 5 ecr lo reflect inc*eased costs ol Ivi ig for Iha grant re￿Iple￿I5 TWJ gr2*ts lotall ng £8.OJO were niale from the John Lang Maclar13n& Fund. SLJFpo#ing Lnmar.. ed s sters an= daugh'.e's Dver forti of ordained n)1n slers ol the Chufnh of Scotlanc In financial need j2J23. tr￿0 grants lotallin £6.0461 No g'arls were made fror. the Rober.son Chaplin F￿nd 5UPPOrting unn7ar.ied and widowea daugh'.er5 of oreaine¢ ministers ol tiè c￿￿rcy of Sco'.land In finaicial need12023. ore giant l?r £1,4541 EcJcalicin 9rantR assist In training aid ecucalion of the Individuals In ?repara:ior for gainful enployment, an- conlri"ulion to the viide. eccnomy The aid Jf Individuals In fiiiancial need will ncrease quality ol Ille ¢nd may promote realth benefils SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND BOARD MEMBERS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and pèrformance Icontlnued ThÈ Sociely ctsnlinues lo h.old all of ilg invested fvnds in the Bar¢lays Charity Fund. This fund (*Fers the Society a viel diiersifi&d portfolio bul al lower m8nagement cost than 8 discretionary inveslmenl portfolio The Soc'ety continup to di5CUSS the possibility of an amalgamation of the Society wrth the Esdaile Trusl and the lasgow Society DI the Sons and Daughters of P¢1inislers of the Church ol Scotland During the yeai. the Glasgow Society aecided lo withdraw budt discussions with Ihe Esdaile Trust continue. Financial review Duing the yeai iicome amountèd lo £50,018 12023.. £37,326) £10,000 from the income was donaied legacy Ironi John Ste￿3￿. A nel gain on Inwestment of £49,336 12023. £7 1,0511 led to net inconie of £32,529 12023.. r51.222. Du.'ing the year :.he market val,Je of the investments Increased fiotn £1,249.526 to £1,279.989 as 3 result of mproved market performance. Al 31 Decembtsr 2024 unresliicted funds of £71,20412023. £77,048) and endowment funds of £1,212,44912023'. £1 179,L311 were held. In addition resiricled funds of £15,971 12023" £13,816) were held. Reserves policy vranli are paid out of Investment and other incorne after deduction of adminislralive expenses. The amount of gronls is Iixeoj so Ihai al. applicants who meet Ihe erileria receive a grant. Re4eiue siirpluses brought forwaro from previous years afe available if there is a shortfall. T.1 ?93,e24 reseNes are held, £71,204 bping unreslricled free reserves. and £1,212,449 being design8ted endowm*nl funds Thè Societ/ attempts to maintain a cash balance in excess ol the average quartèrfy expenditure. which in lear uncer review amo.'.ntecJ to approximaiely £16.70612023. £14,289) Risk management policy The Boarc5 of Management regularly assesses and -onsi(Jers the major risks lo which the charity Is exposed in particJlar those ielatino to opeialioiis agd financing of the Society. The Pfincipal risk to the SocEty Is loss of capitÉil dJe lo marke4 risk <>n the inveslrr.enl portfolio This is miligaled by appropriate systems anLI ¢ontrols and Inveslino in an e of the Board Jf Klaiiagerien,. ale updated on their duties and responsibilit e$ The Societi conciders that '.he kev maiagerr.ent per>onnel comprise the Board ￿emberS as Trustees and no remuneiation or expénses wère payable lo the key niaiagement personnel. The Society employs no $18ff. Decision making process Thè Bottrd of M8nagèment meet -.wi=e a /e8r Tme annual gene.al meeting is he d In March each year lor the -onsideialion ol the arnual financial slalemenls and ltr.e de1egGlion of ils bJsine>S lo '.he Board of Managemen.. A meeting of ".he Board of Manageyierl Is hel(J Immediately after the AGM. The Bo8"d ol Management are "e5poisièle for tho maiagement ol thè Society A ftJrttr,er meèting Is iel¢ in August at kvhich time gpplications lor Jranls are considered. There Is an Inveslme•t Sub-committee which se'.s taigels and reviews the performance of the irvestmeD.I advise,'s receiying regLlar repott5 from the Barclay's Ciaii'.y Fund and rneeLing v,'Ith them al le851 oncè a year The Btsard ?f Man2gemenl have a?po nleol a secre-.ary and Tregsurer lo h8n¢le (lay to day adminislralion Related parties The Society %vorrfs in close co-operation ￿th *he Esdaile Trusi and the GlasgJw Society ol the Sons and Daughle,"s of Llin slers of lie Chui-h of Scalland and rep"esentatives attend e8ch other's meetings iy ccnneclioi 'Nilh l.ie -is".ribulion of student grants SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND BOARD MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statefflenl of Board MembeTS' responsibilities The Board ol Management are responsible lor preparing the Board Mernbe15' Report and the financial slateiiienls in ac¢ordance with appliGable law and United Kingdoiii Accounting Standards Iuniled Kingclom Generally Accepted Accounting PractlGel. The la￿ applicable lo charilies in Scotland requires the Eoard of Management lo Prepare finanEial 51alements for each financial year which give 3 triie and fair view of the state of affairs of the Society and of the Incoming iesources and application ol resources of the Society for Ihal year In preparing these financial slalemenls, the Board of Management are required lo.. Select suitable accounting policies and thon apply them consislenlly.. observe the methtsds and principles In the Charities SORP. make judgernenls and eslimales that are reasonable and prudènt", slate whether appl cable a¢¢ounling Standards have been followed, subject lo any material departures disclosed and explainea in the financial slalemenls., and prepare Ihe financial siaiements on the going concem basis unless Il is inappropriele lo pres￿￿￿ that the Gharily will Goritinue in operation. The Board of ma￿agement are responsible lor keeFing sufficient accounting records that disclose with reasonable accuraw al any time the financial position of the Society and enable them lo ensure that the financial sl2temeits comply with the Charities and Truslpp lnvesl.menl Iscollandl Act 2005, the Chaiilièg Accounts (Scollandl Regulations 200613s amended) and the provisions of the constitution They are also responsible for safeguarding the asseis of the Society 8nd hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities. Board ljlembers, rppot vJ3s appr)v?d hy the Board o, Management. SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF MANAGEMENT OF SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND I repcrt on the finarcial statements of the Socieiy lor the year er,ded 31 Decenber 2024. which a"e set out on pages 6t0 16 Th s report Is niade lo the Trustees. as a body, in a-cordance with the terms of my engagernenl My work has been uncjertaken lo enab e Te to report my opinion as sel ou". belo.N and for no other PLJrposès T? l*É fullèst extent permitted by law I co not accept or a¥su￿ e responsibilily to anyofje other than the Tiusi and the TTuslees. as a bocy, for my work or lor this report. RÈspÈctivè rèsponsibilities ol Board of Management and examiner Thts Societ/'5 Boarc of PthÈn8 Jemeit are resp¢nsiblè lo" t￿e prepa.. al on of the financial slalemenls In ac-ordance 'Nilh the térms of the Chaiilies and Trustee Inv￿StmentS IScot18rd.. Act 2005 and the Charities Accounts .,ScDllandl Regu alicns 2006 The charity's Boar¢ f Manageiieil ¢orsidei ttr.al the aucit iequiremenl ol ge9ulalion 1 Qi11 jal lo ,¢) of Ine 2006 Accounts Regulations does iioi apply,. 11 Is m5 responsibility lo examine the financial slalenieyls as requ red under section 4411}l-l ol the Act and lo stale whetlei particulai Iiiaiieis have ome 10 nil a:teniior) Basis ol independeni exanilner's staternellt M} exa-i)Inalon Is carried out in accoraance ￿1th Regulalior 11 of the L006 Accounts Regulations. Ai examination iilcludes a review of the a￿CoL]ntIng re-crd5 kept b). the charity and a comparison Df the finarcial statements presented iiiith those record5 It algo InclLides consideratijn of any unuqual items o. d sdosures In thè financial sl•lemenlt and seekq explanations from the trus".ees concerning an/ suck. m3V.ers. The pr0￿dJreS Jndertaker do not Froiide all ltre evidencE that kvould be iequireo in an audit and consequanlly I do noi express an audit opinion on".he view given by the financial Stat￿MentS Independent examiner's ststement In the ccurse ol my exam,Ya', on, nj mallei hès come to rry attention lal which oives rre ieasDn8b e cause lo bellève that In any w,alerial rèspect the requirements" lo ketsp a￿OUr1 ng records In accordance With seclioi 44111181 of the 2CI05 Act and Regulation 4 01 the 2306 Axounls Regulatiois and to prepare I n3n¢ial slatemeils wkich accord with the accoLnling 'ecDrds and comoly ivilh Regulatio* 8 01 the 20'.J6 Attounls Regjlalions", have nct been rrel 01 Ibl lo wh.Ich. In niy opinion. attenlioii should be draivn In o-der lo enable a pioper undeisldiidiiiy ol IIE linan.ial st31eYeiils tc be reached DaleLI. 29 Ap￿1 2Q25 Chiene & Tait LLP Ilrading a$ CT) Chartered Accountants arid Iiidependent Exami iiers 61 Dublin Street, Edinburgh, EH3 6NL SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current fiiiancial year Uniestricted Endowment Restrieted funds funds funds designated 2024 Totsl Total 2024 2024 2024 2023 Notes Incomè fr Donaiiors ané legacies Investments 10000 29.863 10,000 40.018 10,155 37.326 Total income 39.863 10.155 50,018 37,326 Raising lunas 7,223 5,818 hanlabie acti'iilies 45 707 5,895 8,000 59.602 51,337 Total expènditure 45,707 13,118 8,000 66.825 57,155 Ne.. gaIr￿ on investments 11 49,336 49,336 71,051 Net Thoyement in funds 15.8441 36,218 2,155 32,529 51.222 Fund balan=es al 1 January 2024 77 048 1.176,231 13,816 1.267,095 1,215,873 Fund balances at 31 December 2024 71204 1,212,449 15,971 1.299,624 1.267,095 The sialemeni ol fi'rancial activities includes all gains and losses 'ecognised In the year. All Income and expend lure delive from ctsnlinuing activities SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlor fiiidllcidl year Unrestricted Endowment Restricted funds funds funds designated 2023 Total 2023 2023 2023 Notes Investments 9,472 37,326 Total income 27.854 94-,2 Ex Raising funds en 5,818 5,818 Charitable activitie5 40,369 3,448 7.500 51,337 Total expgndlturo 40,389 9,266 7,500 57,155 Nel gains on Investnienls 11 71 051 71,051 Net movemenl in funds 112.5351 61.785 1,972 51,222 Fund balances al 1 January 2023 89.583 1,114,446 11,844 1,215.873 Fund balances at 31 December 2023 77.048 1.176,231 13.816 1,267,095 Ttre slalen'enl o, finali￿la1 aitikities Includes all gaiiis and lo¥ses recognised In 11)e year All Income and expenditure Jeiive from continuing 8clivilies SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Flxed assets n¥estmer)Is 12 1,279.989 Current assets Cash at bank and in han 24.779 22,340 Creditors.. amounts falling due wlthin oneyear 14 IK 1441 Ne.. current assets 19,635 Total assots lèss currellt liabilities 1,299,624 1 261.095 InGom* funds Restricted funds En.Jowrmenl luncs d&signaled Un'estricied funds 15,971 1,212,449 71,204 13.816 1.176.231 1,299.624 1.261 095 The f.1i2'icial sla'.eii'eDIs '.se-e app.0￿e￿ by the Boaid 01 Management on 22 April 2025 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information Th• chai ty Is a public benefit enlrty. Th" Krin￿1paI accounting oolicies applied in Ihe preparation of these financial slalements are sel out below, Thuse policie5 have been apolied con313lently. unless otherwise slèted. 1.1 Accounting conventlon Thts accounts have been prepared Ir a￿Ord¢￿¢£ %vith the Charities and Trustee Investment (Scotlandl Act 2005. the Charities AccoJnls jscotlandl P.egulÈtions 2006 las amended). the provisicns of the Charities SC RP IFQ¢ 1 D21 AeeoLinling And R&pnrting by Ch2rities' Slalement of Recommended P-adice applicable to cha"Ities prep¢riro their accounts In accordance with Ihe Fiiiancial Reporting standard applicable Ir the UK and Republic ol Ireland IFRS 1021- leffecliiie l January 2C191 and FRS 102 the Financial Reporting Staneard appli.-able In the UK and Repuoiic of Ireland I'FRS 102.1. The ¢ompaYy lias taken advantage of the piovisioiis in the SORP for cliarities applying not lo prepare a Staieiiienl of Casli Flows. Tlk finaiicial slaleiiien15 are prepared Iii sterling. which Is the lunclional currency of the Society Monetary amounts in these financial statements are rounded ID tk,e nearest £ The f..naicial sialemenls Save been prepared Linder the historical cost convention. with Ihe excepticn of the Inveslmenlo which are cairied al market value The principal accounting pglicie5 adopted are sel out below 1.2 Going concern The BJard of l.Aanagemenl tras prepared the finonc1318latements on the going tt)ncern basis 3$ there are no rnGleiial unce4ainties aboLII 115 gbility to continue to deliver its charitablé activities The Soeiety holds -tsnsiderablts investments wtt1ch coJld be readily sold should the need arise 1.3 Charitable funds Unresiriciec fundo are 8vai18blè tor use al the discretion of the Board ol Man2gemenl. In order to ensure that '.LJr.d8 available for gpÈeific proiecls. certain funds are sel aside and desionaled by the Board of Manaaenient Into sepa,. alé funes Rebli iled l.Iliils are I￿,0$e ivliicli have been given to tlie Saciely lor use In accoidance with tlie wisheb of 1.4 Incomè Income Is iectsgnised i¥hen IhÈ Society is legally entitlèd to it aftp.r any performance condilinns have been met. thè amoLinls can be measurèd reliaJly and il is probable that Income will be received Dii,idend Income Is re¢ognised when the righl lo receipl is established and is measured al the fa1r value SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.5 ExpendltUFe Recognition and allocation ol expendilurè. Expenditure Is recocnised on an accruals ba51s and related where practicable lo the charity s activities. Where possible, expendituie is allocated directly lo the function lo which il relates. Vvhere this is not possible il Is allocalec on the basis of time spen.. on that acl'vily. Cos'.s of raising funds ¢omprises Ihosc costs which are associated with the generatiDn of income frtrm sources other than undertaking charitable activities. and inclLid&s Investment m2n2gemeAt costs. Charitable expenditure mmprises those costs incurred by the charity In the delivery ol ils charitable aclivilie5 and services. Support costs and govemance "osls jincluding Independent examination lees, administration and office costs, are 8PPOrtioned belween aciivilies or the basis of time spenl on that activity. 1.6 Fixed asset Investments Fixed asset investments are Initially measured al transaction price excluding transaclion costs. and are subsequeniiy measured at lair valLJe at each reportin9 dale. Changes in fair value are recognise¢J in net ,'lexpeiidilLiiei foi Ihe year. Transaction costs aTe expensed as InCLirred 1.7 Casli and cash equivalents Casli and casli equivaleiilb 5nclude ¢a51) iii liand, deyosi15 held at call with bank5, Other short-teim liquid iivesliiienls with original m31urilie4 of three months or le3¥. and bank overdrafts Bank overdrafts 3re shown Basic financial oSSÈts Basic financial a55els. ￿'hiCh include debtors and cash and bank balances. arè initially measured at transaction price Inc.Liding transaction costs and arè subsequently c3rried amortisèd cost using the effective i*terest method unless the arrangement Constilulgs a Iinancing transaclion. where the transaction Is measjred al the present valu8 of the future re¢e5Pts discounted al a market rate of ir)leresl. Financial a55els classified as receivable Wlihin one year are not amortised. DeTrcognifion of financial a55ets Financial assets are derecognisad only when the conlraclual rights lo the cash flows from the asset expire or are sellled, 01 when the Society t"anslers the financial asset and 5ubslanlially all the risks and iewards ol ownership lo another enlily, or If s?me significant risks and rewards ol ownership are retained bul control ol the assel has transferred lo another party that s able to sell the asset in its entiiety to an unrelated thifd pariy Basic financial liabiliiies Basic finan-ial liabilities. Including creditors ancl bank loans are Initially rec￿nISed at Iransa¢tiDn price unless the arrangement consiitules a financing transaction, where the debt Instrument is measured al the present valuè of the lulure payments discountred at a tnarkel rate of Interest. Financial liabilities classified as peyable within one vear are not arnortised. Debt Instruments are sJbsequently Carried al amortised cost, using the tsffeetivè interest rate method. Trade creditors are obl,'galions to pay foi goods or services that have been acquired in the ordinary course of operations from suppli*rs AmoJnls payablg are elassified as cuirenl liabilities if payment is Que within one year or less If not. they are presente￿ as non-currènt Iiabililies Trade credilois are recognised initially al transaction price and sJbsequently measured at arnortised cost using the effective interest method 1Q- SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies (Continuedl Derecognirion of financial liabAlities Finarcial liabilitiès are derecogniséd when the Soc ely s contractual obligations expire or are discharged or cancelled. Critical a¢¢ounting estimates and judgements In ihe application of the Society's aetounlin9 policies. the Board ol Man¢gemenl are required lo make judgements estinialès and assumptions about the carrying amoun.. ol assets and Iiabililies that are ncl readily appaieni from otyer souices The estimates a*d associated assumptions are based on historical experience and other factors that are vonsidered lo be relevant. Actual iesults may differ from these estimates. estimates and underlying assumptions are reviewed on an ongoing basis Rèvisions lo accounting estimates 2re rec?gnised In the period In ivhi-h the estimale is revised whe.e the revision affects only that period. or In the peiiod of Ihè revision and future period5 where the revision affeds both current and futur periods. The Board ol Management are not aware of any criti￿1 accouDling estimates or judgements that will Impact on the finarcial s'.alemenls. Donations and legaciés Uii restricted funds Total 2024 2023 Legacies receivable 10.000 Investments Unrestricted Reslricted funds funds Total Unrestricted funds Restricted lunds Total 2024 2024 2024 2023 2023 2023 Investment income 29,863 10.155 40.018 27,854 9,472 37.326 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Raising funds Endowment Endowment funds funds dèsignated designated 2024 2023 FLiid nianagen)ent costs Supwrt costs 3.835 3,388 2,636 3.182 7,223 5,818 Charitable activities 2024 Q23 Grant funding of activities (see note 71 42 58Q 39,013 Share ol support costs Isee note 81 £hare ol gc,verllance costs Isee note 81 5225 5,428 6,896 51,337 Analysls by lund Unresiri¢led funds Endowment funds - designated Restr cled funds 45-. 40.389 3,448 96C2 51,337 Grants payable 2024 2023 Education vr2nts Rcberlson Ckaplin Awards John Lang MacFarlane 34 589 31.513 3.750 3.750 8,000 42.589 39.013 12- SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMSER 2024 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 M2nagement and admir,slrat on Advertising Office éxpenses 8.468 145 5.081 13.549 217 249 7.958 289 363 12,733 433 794 144 431 249 Legal 3r,1 piolegbiC)nal Independent examiner's lee 4920 4920 1,466 1,466 1 546 1.546 8,613 11,788 20.401 8,610 6.896 15,506 Analysed between Fundraising Ctr4aritable acl..vilies 3.388 17013 3,182 5,426 3,182 12,324 5,225 11,788 6,896 S.613 20 401 6.896 15,506 Board of Management No trernbei ol the Board ol Managenient received any remuneration or benetils from tlie Society during the cur'enl or prioi year Nc men)be- ol the Board of Planagemenl received ieimbursement ol expensès In the current or prior year 10 Eiiiployèes The Sociely ha¢ iio employees dunng the curienl or prior year 11 Net IIOs5esllgalns on investrnents Endowment Endowment funds funds designated designated 2024 2023 Revaluation ol Investments G&inljloss1 on sale of Investments 49 086 250 70,909 142 49,336 71,051 1J- SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Fixed asbet iiivestimeiits Listed investment5 Cost or valuatloii At l January 2024 Va ualioii chaiiges Diswsals 1,249,526 49,086 118,6231 Al 31 oe￿mber 2024 1,279,989 Carryin9 amount Al 31 December 2024 1,279.989 Al 31 December 2023 1,249.526 13 Financial instrurnents 2024 2023 Carrying amount of financial assets Instrumenls measured at fair value through prcfil or oss 1,279.989 1,249,526 14 CrediloTS- amounts falling due wlthin onè year 2024 20?3 TraLYe cieditors AcbfLals and deferred Income 2,JSb 2,415 5.14 4,771 14 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2024 15 Funds Mvveineiii in fuiids EApeiidi¢ure Tratisl¥ts RevJliJalio115 BalaiKe at 40111r .Iiid 31 QOt.4)libi￿r 108804 2024 BalailC9 al tsLiieial 'oberls()ii Lliiik)Iiii Joliii Lang MaiF3rldiie Unreslricied funds General Restricted lunds Joyn Lang ￿18-FarIane Robelson Chaplin (• 791) 3G.817 QD4.784 253,292 12.624) 10,624 261,092 77,U48 39.863 145.7071 71,204 12,382 1.434 8.618 18,000} 13.000 2,971 1.267.095 50.C18 (66,8251 49.336 1.299.624 Movement in fund5 Expei)dituro Tr(iiisfer$ Re¥aluations Balaiice al galiis alié 31 L)L'Leinbei 1055es 2023 Balaiieè ai 1 January 2023 Endowment funds General Rcbertson Ch3plin John L2rg Ma=F2r12ne Unrestricted fund$ General Restricted funds John Larg Ma-Farlane Robertson Ch8plin 831,652 16.9161 13)51 Iq,9951 53,022 2.729 15.300 877,758 45,181 253.292 239,981 89.583 27.854 140.3891 77,048 10.39a 1.454 8,C38 16,046 11,4541 12.382 1,434 1.215.873 151.1551 71.051 1,267.095 SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Funds (Continuedl UnrestrictÈd funds compr.se SLirpluses brought forward over many decades Thèy may be used for all conslitul onal purposes Robertson Chaplin Fund was established lor unmarried and widowed daughters of ordained ministers of the Church ol Scoiland. John Lang Macfarlane Fund was established for unrnariied sisters. over forty, ol ordained ministers of the Church ol Scotland Endowment funds are held to generatè future Income by means ol Invesimenl. Enaowment funds are nol normally Jsed for revenJè PLrposes altnough Iheie Is no restriction as sucm. 16 Analysis of net assets amongst funds Unrestricted Designated Restricted funds funds funds 2024 2024 2024 Total 2024 Fuiid balances al 31 December 2024 are represented by.. Ini'eslmenls Current assetsllliabililiesl 67.540 3.664 1.212,449 1,279,989 19,635 15,971 71.204 1.299,624 Unrestricted Designated Restricted fund5 funds fltnds 2023 2023 2023 Total 2023 Fund balances at 31 December 2023 are represented by.. In%'estments Current assetsllliabililiesl 73.295 3.753 1.116.231 1,249,526 17.569 13,816 77.048 1,176,231 13,816 1267.095 17 Related party trai)sactlons I lieie were no disclosable ielated pail}. traii¥aLtILIIS Quriii9 tlie year liO'J - Iioiiel,