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2025-12-31-accounts

Charity registration number SC008760 (Scotland)

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 2025

SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND

LEGAL AND ADMINISTRATIVE INFORMATION

Board Of Management
Nominated by the members Mr D Brambati (Resigned 16 June 2025)
Mr A Gibb (Resigned 22 April 2025)
Rev A Inglis
Rev Dr J A P Jack
Rev Dr A Logan
Mr A Tod
Rev Dr J Cowie
Mr Nigel Orr (Appointed 22 April 2025)
4 vacancies
Nominated by the General Assembly Rev W Peter Graham
of the Church of Scotland Mrs J Wilson (Chair)
Ms S Carter
Rev Dr A McCafferty
Charity number (Scotland) SC008760
Principal office Quay 2
139 Fountainbridge, Edinburgh
EH3 9QG
Secretaries and Treasurers Azets
Quay 2
139 Fountainbridge
EH3 9QG
Independent Examiner Steven Smillie CA
Chiene & Tait LLP (trading as CT)
Chartered Accountants and Independent Examiner
61 Dublin Street
Edinburgh
EH3 6NL
Bankers Cater Allen Bank
9 Nelson Street, Bradford
BD1 5AN
Solicitors Gillespie MacAndrew LLP
5 Atholl Crescent
Edinburgh
EH3 8EJ
Investment Advisors Barclays Wealth
11 Melville Crescent
Edinburgh
EH3 7LU

SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND

CONTENTS

Page
Board Members' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6 - 7
Balance sheet 8
Notes to the financial statements 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 2025

The Board of Management present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note note 1 to the financial statements and comply with the trust deed, the Charities and Trustee Investment (Scotland) Act 2005, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objective of the Society is the provision of grants to assist in the education of the children of ministers of the Church of Scotland where such assistance is needed.

The Society also administers the Robertson Chaplin Fund and the John Lang Macfarlane Fund for unmarried and widowed daughters and unmarried daughters and sisters over forty respectively, of ordained ministers of the Church of Scotland, preference being given to the aged and infirm.

Review of activities

The activities of the Society are to make grants in accordance with the objectives of the Society and its subsidiary funds.

During the year 21 (2024: 17) grants were awarded totalling £44,613 (2024: £42,589).

Grant making policy

In accordance with the objectives of the Society grants are made for the education of sons and daughters of ministers of the Church of Scotland. Normally the beneficiaries are between 12 and 25 years of age. Grants are made from the subsidiary funds for the support of unmarried and widowed daughters and unmarried daughters and sisters, over forty, of ordained ministers of the Church of Scotland, preference being given to the aged and infirm.

The Society is advertised widely among ministers of the Church of Scotland. The grant making policy gives preference to those with a low family income. A standard application form is used and applications are reviewed against predetermined criteria.

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 2025

Achievements and performance

General education grants to support 19 individuals, ranging from £100 to £3,350 and totalling £35,613 were made, enabling enhanced focus on their studies by the individuals concerned (2024: 15 individuals, grants ranging from £100 to £3,350 totalling £34,589). Grant income assessment levels were increased in the year to reflect increased costs of living for the grant recipients.

Two grants totalling £9,000 were made from the John Lang Macfarlane Fund, supporting unmarried sisters and daughters over forty of ordained ministers of the Church of Scotland in financial need (2024: two grants totalling £8,000).

No grants were made from the Robertson Chaplin Fund, supporting unmarried and widowed daughters of ordained ministers of the Church of Scotland in financial need (2024: £nil).

Education grants assist in training and education of the individuals in preparation for gainful employment, and contribution to the wider economy.

The aid of individuals in financial need will increase quality of life and may promote health benefits.

The Society continues to hold all of its invested funds in the Barclays Charity Fund. This fund offers the Society a well-diversified portfolio but at lower management cost than a discretionary investment portfolio.

The Society continues to work towards merging with the Esdaile Trust.

Financial review

During the year income amounted to £39,408 (2024: £50,018). A net gain on investment of £123,973 (2024: £49,336) led to net income of £98,215 (2024: £32,529).

During the year the market value of the investments increased from £1,279,989 to £1,385,031 as a result of improved market performance.

At 31 December 2025 unrestricted funds of £55,822 (2024: £71,204) and endowment funds of £1,325,046 (2024: £1,212,449) were held. In addition restricted funds of £16,971 (2024: £15,971) were held.

Reserves policy

Grants are paid out of investment and other income after deduction of administrative expenses. The amount of grants is fixed so that all applicants who meet the criteria receive a grant.

Revenue surpluses brought forward from previous years are available if there is a shortfall.

£1,397,839 reserves are held, £55,822 being unrestricted free reserves, and £1,325,046 being designated endowment funds.

The Society attempts to maintain a cash balance in excess of the average quarterly expenditure, which in the year under review amounted to approximately £16,291 (2024: £16,706)

Risk management policy

The Board of Management regularly assesses and considers the major risks to which the charity is exposed in particular those relating to operations and financing of the Society. The principal risk to the Society is loss of capital due to market risk on the investment portfolio. This is mitigated by appropriate systems and controls and investing in an established pooled charity fund. The Society anticipates a long term future and accepts the reality that financial markets are such that capital values of investments will fluctuate during a long time-scale.

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 2025

Plans for future periods

The Society is working towards merging with the Esdaile Trust due to falling number of grant applications and the similar purposes of the charities. Until the merger, the Board of Management will to continue to support sons and daughters of Ministers and to provide grants for unmarried and widowed daughters and unmarried sisters of ordained Ministers of the Church of Scotland.

The newly merged charity has now been registered by OSCR under the name The Kirk Ministries' Children's SCIO. However the transfer date has not yet been agreed. The Society has also applied to OSCR to reorganise the restricted funds which will widen the eligibility crieteria for applicants and enable the capital element of each fund to be expendable.

Structure, governance and management

The Society was constituted in 1792 and was reconstituted under the Clergy Societies Scheme 1934, and is registered as a charity in Scotland. In 2019 a declaration was approved by the Trustees to update the constitution, and remove the requirement to have the annual financial statements audited.

Appointment, induction and training of members of the Board of Management

The management of the Society is the responsibility of the Board of Management who are elected and co-opted under the terms of the constitution. The Board consists of four persons appointed by the General Assembly of the Church of Scotland and up to ten persons nominated by members. Members of the Board of Management are appointed for five years and are eligible for reappointment.

The Society is currently seeking nominations to its Board of Management in order to increase numbers in line

with the requirements of the constitution.

New members of the Board of Management are provided with a copy of the constitution, the annual report and financial statements and are briefed as to their duties by the Chairman and Secretary. From time to time the members of the Board of Management are updated on their duties and responsibilities.

The Society considers that the key management personnel comprise the Board members as Trustees and no remuneration or expenses were payable to the key management personnel. The Society employs no staff.

Decision making process

The Board of Management meet twice a year. The annual general meeting is held in March each year for the consideration of the annual financial statements and the delegation of its business to the Board of Management. A meeting of the Board of Management is held immediately after the AGM. The Board of Management are responsible for the management of the Society. A further meeting is held in August at which time applications for grants are considered.

There is an Investment Sub-Committee which sets targets and reviews the performance of the investment advisers receiving regular reports from the Barclay's Charity Fund and meeting with them at least once a year.

The Board of Management have appointed a Secretary and Treasurer to handle day to day administration.

Related parties

The Society works in close co-operation with the Esdaile Trust and the Glasgow Society of the Sons and Daughters of Ministers of the Church of Scotland and representatives attend each other’s meetings in connection with the distribution 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 2025

Statement of Board Members' responsibilities

The Board of Management are responsible for preparing the Board Members' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the Board of Management to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Society and of the incoming resources and application of resources of the Society for that year.

In preparing these financial statements, the Board of Management are required to:

The Board of Management are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Society and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the constitution. They are also responsible for safeguarding the assets of the Society and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Board Members' report was approved by the Board of Management.

J. Wilson

Janette Wilson

Chair Dated: 21 April 2026

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 report on the financial statements of the Society for the year ended 31 December 2025, which are set out on the statement of financial activities, balance sheet and related notes.

This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion as set out below and for no other purposes. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the Trustees, as a body, for my work or for this report.

Respective responsibilities of Board of Management and examiner

The Society’s Board of Management are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Society's Board of Management consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

have not been met or

Steven Smillie CA

22 April 2026 Dated: .........................

Chiene & Tait LLP (trading as CT) Chartered Accountants and Independent Examiners 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 2025

Current financial year
Unrestricted Endowment
Restricted
funds
funds
funds
2025
2025
2025
Notes
£
£
£
Income from:
Donations and legacies
3
-
-
-
Investments
4
29,408
-
10,000
Total income
29,408
-
10,000
Expenditure on:
Raising funds
5
-
7,430
-
Charitable activities
6
44,790
3,946
9,000
Total expenditure
44,790
11,376
9,000
Net gains on investments
11
-
123,973
-
Net movement in funds
(15,382)
112,597
1,000
Fund balances at 1 January 2025
71,204
1,212,449
15,971
Fund balances at 31 December
2025
55,822
1,325,046
16,971		 Total
2025
£
-
39,408
39,408
7,430
57,736
65,166
123,973
98,215
1,299,624
1,397,839		 Total
2024
£
10,000
40,018
50,018
7,223
59,602
66,825
49,336
32,529
1,267,095
1,299,624

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing 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 2025

Prior financial year

Unrestricted Endowment
Restricted
funds
funds
funds
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
10,000
-
-
Investments
4
29,863
-
10,155
Total income
39,863
-
10,155
Expenditure on:
Raising funds
5
-
7,223
-
Charitable activities
6
45,707
5,895
8,000
Total expenditure
45,707
13,118
8,000
Net gains on investments
11
-
49,336
-
Net movement in funds
(5,844)
36,218
2,155
Fund balances at 1 January 2024
77,048
1,176,231
13,816
Fund balances at 31 December 2024
71,204
1,212,449
15,971		 Total
2024
£
10,000
40,018
50,018
7,223
59,602
66,825
49,336
32,529
1,267,095
1,299,624

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SOCIETY FOR THE BENEFIT OF SONS & DAUGHTERS OF THE CLERGY OF THE CHURCH OF SCOTLAND

BALANCE SHEET

AS AT 31 DECEMBER 2025

Notes
Fixed assets
Investments
12
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Endowment fund - designated
Unrestricted funds		 2025
£
£
1,385,031
17,602
(4,794)
12,808
1,397,839
16,971
1,325,046
55,822
1,397,839		 2024
£
£
1,279,989
24,779
(5,144)
19,635
1,299,624
15,971
1,212,449
71,204
1,299,624		 2024
£
£
1,279,989
24,779
(5,144)
19,635
1,299,624
15,971
1,212,449
71,204
1,299,624
1,299,624
15,971
1,212,449
71,204
1,299,624

The financial statements were approved by the Board of Management on 21 April 2026

J. Wilson

Janette Wilson Chair

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 2025

1 Accounting policies

Charity information

The charity is a public benefit entity.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently, unless otherwise stated.

1.1 Accounting convention

The accounts have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the provisions of the Charities SORP (FRS 102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) and FRS 102 "the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102").

The company has taken advantage of the provisions in the SORP for charities applying not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Society. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, with the exception of the investments which are carried at market value. The principal accounting policies adopted are set out below.

1.2 Going concern

The Society cannot be considered to be a going concern due to the ancipated merger with the Esdaile Trust in a new SCIO within the next 12 months. The Trustees have confirmed that the Society can be wound up in a solvent manner. The financial statements have therefore been prepared by the Governors and submitted for independent examination on a basis other than going concern such as a break-up basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Board of Management. In order to ensure that funds are available for specific projects, certain funds are set aside and designated by the Board of Management into separate funds.

Restricted funds are those which have been given to the Society for use in accordance with the wishes of donors, commonly for use in relation to a specific service.

1.4 Income

Income is recognised when the Society is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Dividend income is recognised when the right to receipt is established and is measured at the fair 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 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Recognition and allocation of expenditure.

Expenditure is recognised on an accruals basis and related where practicable to the charity’s activities. Where possible, expenditure is allocated directly to the function to which it relates. Where this is not possible it is allocated on the basis of time spent on that activity.

• Costs of raising funds comprises those costs which are associated with the generation of income from sources other than undertaking charitable activities, and includes investment management costs.

• Charitable expenditure comprises those costs incurred by the charity in the delivery of its charitable activities and services.

• Support costs and governance costs (including independent examination fees, administration and office costs) are apportioned between activities or the basis of time spent on that activity.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Society transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Society’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Society’s accounting policies, the Board of Management are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Board of Management are not aware of any critical accounting estimates or judgements that will impact on the financial statements.

3 Income from donations and legacies

Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Legacies
-
10,000		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Legacies
-
10,000		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Legacies
-
10,000
Investments
Unrestricted
Restricted
Total Unrestricted
Restricted
funds
funds
funds
funds
2025
2025
2025
2024
2024
£
£
£
£
£
Investment income
29,408
10,000
39,408
29,863
10,155		 Total
2024
£
40,018

4 Investments

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 2025

5
Raising funds
Endowment Endowment
funds
funds
2025
2024
£
£
Fund management costs
3,942
3,835
Support costs
3,488
3,388
7,430
7,223
6
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 7)
44,613
42,589
Share of support costs (see note 8)
5,231
5,225
Share of governance costs (see note 8)
7,892
11,788
57,736
59,602
Analysis by fund
Unrestricted funds
44,790
45,707
Endowment funds -
3,946
5,895
Restricted funds
9,000
8,000
57,736
59,602
7
Grants payable
2025
2024
£
£
Education Grants
35,613
34,589
John Lang MacFarlane
9,000
8,000
44,613
42,589		 5
Raising funds
Endowment Endowment
funds
funds
2025
2024
£
£
Fund management costs
3,942
3,835
Support costs
3,488
3,388
7,430
7,223
6
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 7)
44,613
42,589
Share of support costs (see note 8)
5,231
5,225
Share of governance costs (see note 8)
7,892
11,788
57,736
59,602
Analysis by fund
Unrestricted funds
44,790
45,707
Endowment funds -
3,946
5,895
Restricted funds
9,000
8,000
57,736
59,602
7
Grants payable
2025
2024
£
£
Education Grants
35,613
34,589
John Lang MacFarlane
9,000
8,000
44,613
42,589		 5
Raising funds
Endowment Endowment
funds
funds
2025
2024
£
£
Fund management costs
3,942
3,835
Support costs
3,488
3,388
7,430
7,223
6
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 7)
44,613
42,589
Share of support costs (see note 8)
5,231
5,225
Share of governance costs (see note 8)
7,892
11,788
57,736
59,602
Analysis by fund
Unrestricted funds
44,790
45,707
Endowment funds -
3,946
5,895
Restricted funds
9,000
8,000
57,736
59,602
7
Grants payable
2025
2024
£
£
Education Grants
35,613
34,589
John Lang MacFarlane
9,000
8,000
44,613
42,589		 5
Raising funds
Endowment Endowment
funds
funds
2025
2024
£
£
Fund management costs
3,942
3,835
Support costs
3,488
3,388
7,430
7,223
6
Charitable activities
2025
2024
£
£
Grant funding of activities (see note 7)
44,613
42,589
Share of support costs (see note 8)
5,231
5,225
Share of governance costs (see note 8)
7,892
11,788
57,736
59,602
Analysis by fund
Unrestricted funds
44,790
45,707
Endowment funds -
3,946
5,895
Restricted funds
9,000
8,000
57,736
59,602
7
Grants payable
2025
2024
£
£
Education Grants
35,613
34,589
John Lang MacFarlane
9,000
8,000
44,613
42,589
2025
£
3,942
3,488
7,430
2025
£
44,613
5,231
7,892
57,736
44,790
3,946
9,000
57,736
2025
£
35,613
9,000
44,613		 2024
£
3,835
3,388
7,223
2024
£
42,589
5,225
11,788
59,602
45,707
5,895
8,000
59,602
2024
£
34,589
8,000
42,589

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 2025

8
Support costs
Management and
administration
Advertising
Office expenses
Legal and professional
Independent examiner's
fee
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
8,719
5,231
-
-
-
274
-
780
-
1,607
8,719
7,892
3,488
-
5,231
7,892
8,719
7,892		 2025
£
13,950
-
274
780
1,607
16,611
3,488
13,123
16,611		 Support
costs
Governance
costs
£
£
8,468
5,081
145
72
-
249
-
4,920
-
1,466
8,613
11,788
3,388
-
5,225
11,788
8,613
11,788		 2024
£
13,549
217
249
4,920
1,466
20,401
3,388
17,013
20,401

9 Board Of Management

No member of the Board of Management received any remuneration or benefits from the Society during the current or prior year.

No member of the Board of Management received reimbursement of expenses in the current or prior year.

10 Employees

The Society had no employees during the current or prior year.

11 Net (losses)/gains on investments

Endowment Endowment
funds
funds
2025
2024
£
£
Revaluation of investments
122,866
49,086
Gain/(loss) on sale of investments
1,107
250
123,973
49,336		 Endowment Endowment
funds
funds
2025
2024
£
£
Revaluation of investments
122,866
49,086
Gain/(loss) on sale of investments
1,107
250
123,973
49,336		 Endowment Endowment
funds
funds
2025
2024
£
£
Revaluation of investments
122,866
49,086
Gain/(loss) on sale of investments
1,107
250
123,973
49,336
2025
£
122,866
1,107
123,973		 2024
£
49,086
250
49,336

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 2025

12 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2025 1,279,989
Valuation changes 122,866
Disposals (17,824)
At 31 December 2025 1,385,031
Carrying amount
At 31 December 2025 1,385,031
At 31 December 2024 1,279,989

13 Financial instruments

Carrying amount of financial assets
Instruments measured at fair value through profit or loss
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income		 2025
£
1,385,031
2025
£
1,350
3,444
4,794		 2024
£
1,279,989
2024
£
2,628
2,516
5,144

14 Creditors: amounts falling due within one year

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 2025

15
Funds
Balance at
1 January 2025
£
Endowment funds
General
904,784
Robertson Chaplin
46,573
John Lang MacFarlane
261,092
Unrestricted funds
General
71,204
Restricted funds
John Lang MacFarlane
13,000
Robertson Chaplin
2,971
1,299,624
Balance at
1 January 2024
£
Endowment funds
General
877,758
Robertson Chaplin
45,181
John Lang MacFarlane
253,292
Unrestricted funds
General
77,048
Restricted funds
John Lang MacFarlane
12,382
Robertson Chaplin
1,434
1,267,095		 Movement in funds
Income
Expenditure
Transfers
£
£
£
-
(8,489)
-
-
(437)
-
-
(2,450)
-
29,408
(44,790)
-
8,486
(9,000)
-
1,514
-
-
39,408
(65,166)
-
Movement in funds
Income
Expenditure
Transfers
£
£
£
-
(9,791)
-
-
(503)
-
-
(2,824)
-
39,863
(45,707)
-
8,618
(8,000)
-
1,537
-
-
50,018
(66,825)
-		 Gains and
losses
Balance at
31 December
2025
£
£
92,515
988,810
4,762
50,898
26,696
285,338
-
55,822
-
12,486
-
4,485
123,973
1,397,839
Gains and
losses
Balance at
31 December
2024
£
£
36,817
904,784
1,895
46,573
10,624
261,092
-
71,204
-
13,000
-
2,971
49,336
1,299,624		 Gains and
losses
Balance at
31 December
2025
£
£
92,515
988,810
4,762
50,898
26,696
285,338
-
55,822
-
12,486
-
4,485
123,973
1,397,839
Gains and
losses
Balance at
31 December
2024
£
£
36,817
904,784
1,895
46,573
10,624
261,092
-
71,204
-
13,000
-
2,971
49,336
1,299,624
1,299,624

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 2025

15 Funds

(Continued)

Unrestricted funds comprise surpluses brought forward over many decades. They may be used for all constitutional purposes.

Robertson Chaplin Fund was established for unmarried and widowed daughters of ordained ministers of the Church of Scotland.

John Lang Macfarlane Fund was established for unmarried sisters, over forty, of ordained ministers of the Church of Scotland.

Endowment funds are held to generate future income by means of investment. Endowment funds are not normally used for revenue purposes although there is no restriction as such.

16 Analysis of net assets amongst funds

Unrestricted
funds
Designated
funds
Restricted
funds
2025
2025
2025
£
£
£
Fund balances at 31 December 2025 are
represented by:
Investments
59,985
1,325,046
-
Current assets/(liabilities)
(4,163)
-
16,971
55,822
1,325,046
16,971		 Total
2025
£
1,385,031
12,808
1,397,839
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024
2024
£
£
£
Fund balances at 31 December 2024 are
represented by:
Investments
67,540
1,212,449
-
Current assets/(liabilities)
3,664
-
15,971
71,204
1,212,449
15,971		 Total
2024
£
1,279,989
19,635
1,299,624

17 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).