EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND ANNUAL REPORT AND CONGREGATIONAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Church of Scotland Congregatlon No. 010128 Scottish Charity No. SC008990 EDINBURGH: THE NEW TOVIN CHURCH (F SCQTLAPID Fornigrly St Andrnw's and St G￿rge.$ W•si Chur¢h gf *otl•nd. Edlnbugh TRUSTEES, ANNUAL REPORT FOR THe YEAR ENDED 31 DECEMBER 2024 The Trustees pre¥ent ￿1r annual reFX)rt and the aC¢c￿nts for Ihe year ended 31 DeKember 2024. OBJECTIVES AND ACTIVMES The Chur¢h of Scotland 1$ Tnnitsrian doetrine. RefOrn￿￿ in tr¥dth'on and Pr&sbyt8rian in polty. It exists to glorfy God and lo work for th8 alvancement of Christ's Kingdom thfoughoul the worfd. As a n*￿￿3￿ church. rt acknthvledges a distinctNe call and duty lo brirvJ the ordinances ol rdigh)n to the people in every parish of Scouand through a lemtorial minLsty. It C04Jperates with olh8r churches in varDus ecumenical t4)d￿ in Scclland and beyond. In part￿￿lar, this thureh enjDyS continuing covenant wrth St J¢hn's Epscopal c￿TCh aftd Sl Cuthtert's Parish Churth partly through jcanl membership of Edinburgh Cty Centre Chur¢hes To9ether Trust until tts cesSa1￿n during the year. On 1 February 2024, Iho Church united with Eth"ntJurgh GreensRJe Church of Scotrand and, a5 Ihe c(ntinung chanry, the Changed io E¢Jinburgh The New Town Chu￿￿ of S¢oikqnd. In *ditKJll to regular W￿$hiP in its vamu5 fonns, ar¥J actr¥itwwrthin the corwJregal•Jn. the ChufGh exercises rts mission in a nurnber gf ways as ouyined In Achitsvements and Performance. ACHIEVEMENTS AND PERFOFIMANCE IN 2024 Achievemants and perfOrn¥n￿ ¢an somebmes be difficutt iD rr￿s￿jre in Churches. lthat conslrf(ules an achi8vemen￿ A Church is never a bjilding. bul a￿ayS a cryxmunty ol farthful worshipping reople who seek lo live outtheirfarth inthe servteof others. we have worshipped and served in 2CI24 is ￿ substance of this part of the rerx)rt. In 2024 the ts¥o former ¢ongregations of GreensKle and St. Andrew's arKI si. George's West. tojelher with Ajbany Deaf Church have continuej to find the best way to move foNard as a unsled congregabon. Some membets of the fomier Green5ide congregation have dec￿ed that the time has c￿e for them to cease worshipping in Crty Centre ar¥J ha¥e ioir*d COngrega￿"OnS nearer where they live. see this as a po$itNe mo* tcmards Ihe Churches Iw have joined rather than a negalNe mve from the congregation they have ￿ft. th are still at an early stage in forTning relatMJn¥hips with Broughlon St. Mary's Chufth wth whcTh we are tn a Parith Group'ng a3 agreed y the Pre5bylery of Edinburgh and Lothian. It an Intentronal decision not to hyrry the bonds with Broughton St. Mary's until unitsn was cemented. needs to take p*e to determine the test way# in whith to fvrther the boTrJs in the Parish Grouping. Throughout 2024 we have been 8 ¢￿￿•t￿l￿ wthout a fulktimè Mini rch 1618tion descrite$ th• Church as boing vxanl. Al the beginning 012024 as appointed as our Intgrim Modoralor and she enwuraged us not lo see ourselves a5 'vacanl" bul r8ther 8$ ¥ congr8pl¢on waiting for a new IAinister. arbj whi* wailing Ip be an acbve congregalon continuing our calling in worship and witness and servre ￿P1a$ led the busir£ss and adminislrakn.on of the congregation and she. and a numj ve bd w¢yship. Until August We V•pre fortun*e to have the seTrices of s Ictum. The irKlucbon by the Presbytery d Edir*urgh and INest Lc4hian of cx)k pl￿ on 2yO January, $0 the wail is tNer!_ see In the"Looking Ahead. sethon. And n¢y4V, some aCtsM1￿ arwj inrtkalNes vttmch have la(en in 2024. Vlornhlp In January a serviGe of th￿ksgivirYd took I￿ace in Green$￿¢ to mark the meny years of worship in that ChurGh. That wgs an occasion of celettstvn and also of Inevitablè saéness at the end of V•r)r3hip in a much-lOv￿ Church building. The formal sorvTh of UnDn of tr* Cong￿atIonS ol Gre¢n8idt and St Andrews and St. George's West tocA pl•¢e in Marcb. Worship takes pl¥e6 in 13, GoDrge Str¥èt al 10. 3Ct each Sunday. services are Iwestreamed and thus r8ach a widef congregation than Ihosè in thg Sancttsary. Th8"t8ehy tear¢" is an Irry￿rtant part of the worshp and wrtness of the congregatK)n. On mosl Svnoays ￿ welcome visitors from near and far ￿ worslNP. The Sacrament of the Lord's Supper is celebrated reguLarfy in the lomia setting of mcining worship and *} less fcymal settings belore and after momiry w(Kship. As iThYKated atrthe. worship has betrn conducted by a variety of o¥er the yew and exh has brought hi5 or her own special contribution. have valued each of those ￿ntrIbUtion? while koking foThv•rd lo the in worship which our Minister will brin9. Music is on important part of the worship and Iha ngregation is served by a numbér ol abla or9anisls and singirng 1$ ￿ by the thoir who contribute anthems rnost Sundays. The peal of ewhl bols L8 wng eath week after moming worshi as well cial occasions and prOV￿e$ audble V*itness of the Pfèsènce of the Church. etired fftyn his F#Jsthn as Pastor*l Care A$S￿￿te early in the year and the COngregat￿n had the opportunty to exwess Ihwr appreckql￿n of his part in the frfe of the o)ngregalioft and to WLsh him well in his (most recentl ￿tIral. Special servres hav8 dso t*en place al various points in the year in conjUnct￿n wrth other local Churches e.g. a dawn service on Callon Hill on Easter Sunday and a servbx wrth St. John's Episccpal Church St Cuthbert's Church of ScoU•)d about to tske place. Thoughts@9.30 meets in the chapel in thè Unthfcroft to discuss Christon topKs- 8￿1¢ passages, ethical concom5. Wx¢* Bsues of the day. Albany D•al Church Using Brittsh Sign Language thw meel for wc¥ship once a IT¥(￿th at 13 George Street. blknyed by ¥ lime of lellow$hp. Attempts lo fiTrd 3QXTR0￿ k) minister to the de•f ¢ommunty have still been un¥ucce33ful. Gu¢¥t worship leaders - wth inl¢rpretatson - ha￿ allwd thbs important aroa of Church lrfe to continue. On a number of occasion8 during tho year Atbany memberg have jDinad wfth the rest of the congregth.on - R&membr¥nc• Sur)day when ￿n[shIP tskes place jointly with the Gaman spe8kÉng eongregatson". the electh)n of the Nominats"ng Cc¥nmittee. the election of the new Minisler. and his fitsl Sunday in the Charge. One ol Albany congregab'on was dacled to the N(ffiith"ng Commrttee and that was an enn¢hing expen8n¢e for al invdv&l. Staffing We have S memters d staff on permanent errptymenl ¢ontrth. Flus 2 carelakers on casual wotker agreements. Ths enab￿5 us 10 lulfil the 5fT￿th an¢J safe nMning of the Church and all its actiwties and events. Re￿Vant training is urKJ&t*en. All employees re￿1ve at ￿ast the Real Living Wage. 2024 saw the appx)intmenl of a Church Mana9er Church Administrator. Both appointrnents have been succes5fiJl. The Church Manager has made a hLyJe contribution lo Ihe smooth and effcienl running of the ChurGh aThJ She is ably assisted by the Chur¢h Administrator. A Church cJetaker and a Gafè as5i3tant for George Street. and a caretaker and deaner for Iho Gfctrnside bu￿￿1095 have alw teen aP￿n￿￿. Und•r¢roft C•fO This 1$ a vrt81 of tha OLrtro￿h of th• eongr•g¥tion. Alongsitle thè staff of 8 ehef and kitch8n assistsrnt. a group of efithusias￿ and dedicated vdunteers CCM)k armj serve competitively priced- and delicious - fLYJd f￿ a lar￿ numbtt ef ￿stOrne￿ who i))me fvom far and WKle. As well as cooking and serving. the volunteers chatwth many of Ihecustomerswho may ￿rne alone or bne and who value the opportunity to chatwtth someone friendly and welcc¥niTrg. It is a wam space for those who wanl to spend lime away frcrn ¢y from the busy cty ty from woth. 11 is OFen 5 days a week from 10.30 until 2. Under¢roft Exhibitions. These are an rnportant part of Ihe amb*nce of the ￿fè and mw¢y p8cFle who come specfficalty to See them Three exhibitions place this year. -Heavens ￿Ve. by the art13t Benet Haugmon. The painttngs r¢p8sent an understanding of his tsith and a Christian urthrstandin9 of lrfe. beauty, rts agony and rts w¢ndgrlul my$tery. "Colours of tho Bible. _ an eXh￿l￿n of B[LI￿ quotes ab)ul colour. illustyatod with art work of the Jam¢ ¢olour. An exhibibon of photography by an outsAJg photOgra￿Y d￿. Amn•sty Int•matlon•l The Edinburgh Undercroft Amnesty Group meels monthty in the Undewft Chapel. They keep u 104ate with siluatK)ns a$ they evofve, invdving the abuse of human rights. The Group wnte letters on behalf of many pe4ile suffering in this way and are sometimes succes5fv1 in achieving a successful outcome. They often lunch together in the café after th6yr meetings. The paragr4)h below gives an examp￿ of a SFecrfK 5rtuab.on in whKh they have been invofved this year. Under the Portlco During 2024 three groups were ab￿ to present their causes by having a tab￿ undgr the Church porb"co. This happened al lunchtime and gave passeTS-by the opportunity to leam atout their work. The Organ￿allons were Free(kJm from Torture. The mam￿ Marb'n Fund and Amnesty Intemalional. The Amnesty Group benefrted from 2 days. exposure during the Edinburgh FostNal, promoting the cause of a female prisoner in Saudi ￿abba. In this way we uso our prominent powtion on one of Edinburgh's bus￿$1 streets to SUPFQrt these sp￿la1 groups. Falr Trado St*ll Supporting fair trade Produ￿ ig imKK)rtanl lo the New TvAn Congregat￿n. Or￿e a month the stsll is set up for custom after moming vA)rship and rt is popular among wo￿h4pperS as it carr￿S a w range of 9￿j$. Fair trade woduee is also in the Café. Bothany Bethany Christk4n tharity pfovKles emergery accommodation lor those who are homeless, especialty those who swldenty find themsefves homeless and need somewhere sale to stsy This happens throughout the winter season. As well as ￿￿￿Modat￿)n. the ¢harrty also provides nutritious evening me81s for those are homekn. A team from the Town Church takes part in the provision of meals and does so on various ¢)ceasions during the winter season. Fresh Stsrt Each month volunteers are seen carrying bags of g¢J)ds whth have been brought by members to support this project whKh supry)rts hLYneless tenants who have secured tenancies bul need help to furnish and equip Ihwr new home5. The volunteers tske the donated items lo a warehou$8 lo be made into packs and dtstributed. This is an Important part of hcmf we INe out Ihe Gospel imperative to care for those I￿$ fortunate than OUTsehes. Book Groupl Walking Group One of Ihe marks of a INety congregalK)n is that m8mbers and frier￿S lake part Trn soual ath"vib"es. Some of those take plxe at part￿ul8[ times of the year e.g. the annual Christmas congregational supper. but the walking group and ihe boc* group are regular events. The Walking Group takes place on the first Friday of the month. Walks are usualty between S and 10 miles and the day nonnalty includes a shared meal. The Book Group meets ￿￿)nthlY onlwie and the books chosen are nomialty re￿vant lo the Chrisban faith. Crnativ• Together Th¢ members of this g￿up have excelknnl crealive craft ski115. Tlw make a WKh rang8 of thing5- some are useful. some are beautrful, and many a￿ both. They are sold at an annual event in 13 George Street, and s(Nnelirr*s on other occastins. lo raise rn)ney for chosen Charrt￿S. This yea¢s thosen charty was Mary's Meats and £2.167 was raised. Al all their sales there are ¢)pportunrties to purchase unusual and exclusive grfts. This year. lor the hTsI )"nK, the November sale took place over 4 days. 11 1$ a￿ayS wise to gel there eaty. Wid•r Horizons This group has reCen￿Y re-fomied and is hjokiig at a wide range of issues. Thg link wrth MLslanje Mission Hosprtal conb.nues and it is hoped to have a fund-raising lurKh in Ihe near future. They a also expkjring ways in which the chU￿h be more energy effic￿nt and also Ihe best ways in which Chur¢n funds can be uts"h"sed to SUPFWt goctsle wrth what is happening in the New T$￿n, covenng w¢yship arKI upcoming events It ts attrxkn.vety produced by our Church Manager. Hilary, and there ae occash?nal fealures on Feople who are of the New Town Churth lrfe or the lrfe of Ihe area. Thi3 15 Gal￿ Folk5 01 the New Town. There are usually &*otograph3 and often there 13 a Cart￿ or a Fthe. Some of the latter are better Ih•n other31 Adv•nt C•l•nd•r Our online Advent C4ondar was 8 naw vonturg for 2024. th• tr•inchdd of Julig Forsyth. Each day there was a now windthw to opèn and tho windtrws ￿ere pcyulal8d by a range of eongw8tional membws 8nd friends. This Im#ginglnie v8nlure was ernmous￿ pwlsr, and il is dn￿cult to Ynagina that Ftwon'l be repeated. Looklng ahead As mèntioned earlier. the congregab.on celebrated the iiduckin ofa new Minister- on 22nd January. T1￿ arrNal of a new Minister is always an exoliThJ lime or aiy congregation The Committee ¥pointed ty tre congregation to find their Minister worked efficienty and exercise¢ d1scemmenl of God's wll for the Ne•V Town congregation al this time. Being a member of a ntyninabng commruee is a undert*irg and the ¢ongregatson tr4ve$ them debt of gratrtutje. There We many orMJoing issues brthe congregatKJn. a5 well as th8 OPFQrninity to do new things under ne4V lea¢Ership. Chall￿ge5 arKI OPFK)rtunrtw abcwnd. FINANCE REVIEW This was another excepltonal year Fn finanaal lem?s. Befc*e adjusting tr Investrnent and Property Gains. theie was a suiplus of £384.718 compared with £207.267 in 2023. ￿fftereas 2023 ineome had been bcosled by swJnrfThnt legacies of £98.058 and a dOnatK￿ of £120,OC() from 'Togetherf, 2024 receipts included Un￿n Transfer funds from Greensth of £431,720. ￿pendrtUre rose from £401,056 to £446.257 due partty lo the continual￿n of the use ofthe Greenside buihjing by exlernal users. Investment Gains of £90.234 and a Gain of £879.957 on the sale of the manse a125 Comety Bank, Edinburgh increased overall net income ￿ the year to £1.354,90912023 £250.2401. Results for the Y8ar Ipage 20) The Stslemenl of Financial ActNities r￿ordS a surplus. before investment and property adjustments, of £384,718 12023 surplus £207,267). Thi5 became a surplus of £1,354,909 after investment surpluses compared wrth a surplus of £250.240 last year. This induded a deficit on restricted activities of £12.680 1202kleficil £5.0811. This deficit arose mainly from Ben8volent Fund disbursements 01 £4.300 12023-£6,500} and a reducb.on in the christ.an Aid FurKI through disbursements to them of £31.250I202>£60,¢￿1. Incomo Ipage 231 Income appltcable lo all funds bel¢)re inveslmenl and propety gains was £830.975 12023- £608,323). This included restrthd frjnd Inc(Wr￿ cl £25.47512023- £88.8301, mosty arisirKJ from the Christian AJ"d Beonation8 fell by £111.413 over the previous year. The total of £39.389 included £22,750 fr￿ the three Trusts wh￿h wnbnue to suFp)rt the Wofk of our Churth 8nd £11.483 as a final balance from 'Together' Whe￿aS the 2023 total of £150.802 induded tnJst receipts of £27.750 and £120.000 the Together Trust which ceased during 2023. Income from Charttabh A¢tlvlti•s rose fmm £78.261.to £86,470. Café income increased from £77, 114 10 £82.581lsee later) and CreatNe Tc*3ether ratsed funds of £2,286 whKh en*Jled dOnat￿n to Mary's Meals of £2,187 Income from Oth8r Trnding A¢dvltl8s fell from £114,607 to £69.409 due lo a smaller Christian Abj Sale and Festival income fell from £19.237 10 £15,699 but rentsl income rose from £7,760 to £29,437 across the two Church pri>pert*s. Investment In¢ome conlinuaj tts prcgress as a result ol increased funds l)w'ng invested. Total income was £41.02612023-£20,0631. Othor Income included the revenue from the Church of Scod•nd Consolldated Fabrfc Fund which increased from £37.853 to £52.910 due lo the indus￿1 of mast rece￿Its from both pro￿rtieS and the receipt of fund5 from Greenside1£431.7201. The unde￿rnft Calé continued lo operate on a fijll fNe48y basis and achieved an overall surplus of £12,186 12023- £22.133). Although takings rose. an additional st8ff memter was required to support expanded trading and the many Voluntee￿ wilt￿1 Wh￿ Ihe café could not operate. Expondfture Ipage 24) Not unexpectedly. total expendrture r￿e from £401.056 to £446.257 party due lo the inclu$ion of Gfeenside propety costs but also because ofthe increased Giving to Gr￿ contn'but*)n to Ministry and the w￿er ￿￿[k of the Church. Spending on Raising Fundsfell from £99.928 to £49.630 mainty tecause of the ￿duced expenses ol running Christian AKI actwitses Idthvn £26.857 to £1.5991 and the reduction in the contriLwlion to Chr*tian Id(Ntn from £60,OCQ to £31.250). Spending on Charltable Acllvltles increased from £301,128 to £396.627. Our annual contribUt￿n to GNing To Grcw was again met in full. B￿Tr9 based on the comtm.ned inc￿ne of b)Ih churches before Ihe Ltnion, it showed a &gnbficant increase from £109.614 to £141,524 after deduction of income due to the Church from the Church of Swuand StrFend Furid. Staff costs fof admlnistration and carntaking rose from £43.421 10 £44,571 as Staff setued into their ne•V jobs.. Fabri¢ costs rose from £13.563 10 £25.303 due to the maintenance costs for both Church properties 8s well as for the previous and current manse and the Greenside cottage. Mu8lc ￿$ts rose lo £7,205 12023-£4.2021 as the current s[tual￿n of using visiting organists continued and the addthon of a signrfunt repair to the Greenside organ. Eneryy costs went down despite ttiv8ring both Churthes. both rnanses and the cot*. wrth expendi￿re of £30.83912023- £32,475} Di¥burnem•nts Ipage 29) Disbursements to extemal charities amounled to £37,71712023 - £69,225). Oncè again, Christian Aid ieceNed the major shaiel£31.250112023460,0￿I whilst dk8bursements to small chant*s from the Benevolent Fund {£4.3CQI12023-£6.5001 were sebeeted by the congregab"on. Flnanclal Po8ltlon (pages 21 aThJ 27) The laige surplus for the year increased Net Au•ts from £1.386.924 10 £2.741,833 of which restricted funds are £61.595 (202￿74,275) and Oesfjnated Funds, I￿￿$ted by the Propety Gain and Union Transfer are £1,625,84412023- £319,429). The value of InV•Stm•￿ rose from £937.741 to £1,606.090 folbwing the wrplus for the year. the aodrtion of the GreensK* portlolh) and the fijrther investment of surplus bank funds. Swnificant items in O•btor4 are £23,000 12023- Q2,7371 which i8 due from the ConsolKJated Fabric Fund and Gift M"d tax recoverable of £9.33612023 - £9.0571. Cr•dltors c4)nsist of routine purchase ledger balances and accruals wrth no ex￿Pt￿nal rtems. INVESTMENT POLICY ANO PERFORMANCE Edinburgh". The New Town Church of Scotland has an investment poly in Pl￿ wh￿h covers the investment of funds over whKh the Trustees have d1Suet￿n. The investments are •Jministered and rn3n￿ed by an 8ppointed professional investment management firm (Brthvin Dolphin). according lo the Ti5k paramete￿ and 8th￿4 constraints laKI dry4vn in the poly. The performance of the investments and of the invesbnenl managers is mnitored reguLgrly. The policy is to have a bala￿1 retum obi&tNe of Ir￿orne and c4ital grcmth a l￿deratO investment risk. The value of investments al 31.12.24 was £1.606.090 compared wrth £937,7418t 31.12.23. Part of Ihk8 inuease defived from the transfer of ts portfol￿ held by Greenside Church 1£382,0461 and the transfer of surplus bank funds of UOO,000. The original cost of investrnents was £1.423.871 12023-£862.3981 There were realised gains of £19.716 {2023- h)$8es £3,643) and there were Unrea￿"sed gains of £70,51812023- gains £46.6161. RISK MANAGEMENT Rlsk Pollcy The trustees are confid&nl that they have taken reasonab18 Steps to milh3ate the risks to whtch the church may be exposed. These include the folkMt¥ig asp8cts on whth extemal professional a¢fvice is st￿g￿t 83 appropnale: Invostment.. the risks have been •Jdressed as ind￿ted in the investment polw and the e$tsblishment of a statement of invesknent along wrth the apFointment of professional invesknent a¢fvisers are consKlered lo be a¢*quale measures to mitBJale rK8k. FInanC￿.. man￿eMent ol the finances by prof8ss*)nal indN*JuaLs including a chartered accountant and invoNfing the imp￿mentation of sound financial procedures with th8 support of a Finance Commitlee. The Accounts are subject to annual audiL Prntectlon of Chlldr•n and Vulnernbh Adults.. pr￿dLIfeS and d&signated ccwrdinalor in compliance with the SafeguaTdin9 PoI￿Y of the Church of S￿l￿4nd. He•lth •nd Saf•ty. health and safety prcredures. Dlsabllfty Dls¢rfmln•llon'. provtsion of full disabl8d access to the Church buikFing. Employment. employrnent prc￿dureS inclLKling contracts of empl¢)yment and staff handb¢Jok plus external eonsuttskn'on wrth professional alh'sers as appropriale. The Slaffing and Manèaement Commrttee provides support and scrutiny as required. Bulldlng Dlsa*t•r. disaster ￿an woviding wwjance instructicffi to staff and Mdunteers on aclKin lo be taken; full ffife and 58cunty systems and procedures. Insurance.. comprehensr¥e insurance, coverirKd all assets. xbvilies and r￿kS to wh￿h Ihe chLTrr¢h may be exposed from kn.me to time. A detailed rev￿# of buiklings rnsur8ncewas carried out during the year by independent experts. RESERVES POLICY The charity trustees have eonsthred the levd of res¢fves required and they have taken into account their current and lTrkety frjlure liabihl*s. It ts the Frf)Icy of the Trustées to hold unreSt￿led unde6￿nated reserves of al ￿a$1 six months nomial expendrture. Al the year end. these Teserves total￿d £1.054,3941202>£993.2201 whth represents more than the level required. However, the trustees consthr il wudent lo hdd additional reserves lo wver any Fossible d&fb in the annual balance of ordinary income and eyndrture whKh may (￿ur in the future. The18r9er part of the des￿nated fur￿5 of £1.625.8441202M319.4291 ￿lateS to the Fabric Funds as bcosled by the transfer of funds from Greens*Je Church1£431,7201 and the gain on sale of the previous manse 1£879.957). The Iruslees conskyef that this is rnor8 than 8Jequate lo fvnd any ftjlure extraordinary fajric Costs. The congregation also has access to capital and revenue balances (value £1,059.1001 held by the Genefal Tfuslees of the Church of Scotland in the Consolidated Fatsr￿ Fund (see Appendixl.. however, the availability of needs lo be balanced against the need for il 10 generate Income receipts to offset annual fobrr costs as pemitted by the Reguk4tiong. The Restricted Funds 01 £61.5951202>£74.275} are conS￿ered to te more than adequate for the specrfic purFoses Ind￿ted. The main use of these fvnds ￿lateS to the Benevoknl Fund and Yequacy and availablty increased folk)wir¥J the approval of OSCR. some lim& ago, lo alb disbur8emenl of (*pital as well as inwne. Following the signfftant changes lo Reseryes fft 2024. Ihg trustees wiil begin lo revw availgblg frjnds in the I￿ht of fulure plans for the mission of the Church. STRUCTURE, GOVERNANCE ANO MANAGEMENT The congregatKJn is a registered eharity, number SC(K)8990. It is &dminislered in accordance with the temis of the Deed of Constilutson (Unitary Fomil and rt is suty'ect lo the Acts and Regulations of the General AS5￿T￿ty of the Church of Scodand. The Church is administered by a SessK)n and the membets of the lQrk Session are the charity trustees. The Kirk SessKsn membets are the eklers of Ihe Church and they are chosen from those members of the church who are o)ns*Jered lo have the appropriate gffts and Skills. The minister, who is a mombei of the lfjrtt SeSs￿n. ts eleded by the congrogation and inducted by the Presbytery. The Kirk Session, whth meets around eigm ts.mes per annum. is responsibk for the spiritual and temporal affairs of the ehurch. The￿ is o training process for existing and new trystee5 in resrect of thw'r resP)n*b￿￿W. Organisational Structurg The Kirk SessKin ts chaired by MinL8ter. Resth)nskn'litss are dewed to varn)us groups a$ appropriate and the principal of these groups and their resFthsibililbes are a5 folkm.. Flnan¢• and St•wanlship'. responsib￿ for thling with all finance matters as referred lo it by the rk Ses5•Jn and by the Treasurers, indth1iNJ Steward8hw). Fabtlc.. responsible for dgaling wth all fabit matters as referred to it by the ￿'rk Sessw. Stafflng and manag￿￿1t. reS￿ns￿le ft)r liaising With the Church Manager on all nonthministerial staff matters and for the day-1￿ opera￿n ofthe I￿1￿￿lA95. Café.. responstble for Ihe support of He&J of Cafe OPerat￿n5, slaff and volunteers in the QFeralion and Ihe development of the cafè wh￿h 15 a key part of the chu￿h,8 miSSK•n. Wld•rH¢>Azon8." responsible for consK4en'ng extemal mattefs of inlerest and rglevance to the lQrk Session and congregalion. Communications.. resp)ns*JSe for all internal aTrJ extemal communicalion matters as referred to it by the Kirk Session. Educatlon". ¢Mrdinati(n of the •ducat￿n81 aspeds of the congregatson's lrfe. REFERENCE ANO ADMINISTRATIVE INFORMATION Chority Name.. Edinbufgh.. The T{Y￿ Churth of Scoland Charity Registratsjn Number.. SC008990 Church of S¢olland Congregabon Number. 010128 Contact Address arKI Prinupal of ￿ShIP.. 13 George Street. Edinburgh EH2 2PA Union.. The chorty was fom)&J on 1 January 2010 with the of The Parish Church of St Andrew and Sl George Edinburgh (Church of Scotlandl and Sl George's West Edinburgh Ichurch of Scollandl. The Albany Churth the Deaf was absorbed into the charity from 1 March 2016. The charity imited with Edinburgh GreensKle Church ol Scotknl on 1* Febnmry 2024 and changed s name lo Edinburgh.. The New Town Church ￿ Scotknd. Trust••s The FolkJwsng truste Interim Alinister e pefth". appointed 08.11.23: resignèd 2101.25) PPOiRrfgd 22 01.25) Kirfr S•Asion Prin¢lp•l Offle•-B•ar•rs S9ss￿n Clo￿.. Churrh Trn8Sv￿r Audltorn Messrs Gibson MeKerrell Burrow5 Limited, 28 ftu￿and Squa￿. Edinburgh EH12BW Charteied Ac¢ountants and Registered Auditors Bankard Bank of S¢oUand Momb•rnhlp and Roll The Roll at 31.12.23 was 242 to whith was added 62 m•mb¢rs Irom the forn•r Greortside Parish Church on 1 February 2024. ring 2024, 13 members died. 11 certhcates of tr¥nsfÈrÈn¢* were issued, and Ihere were no removals by resolution. 3 cerhftsles of transl8ronce were recei*d. 2 members ware admitted by resolution and I memter was ajmitted by profess*)n of fath The roll at 31* December 2024 was 286 which represents ¥* increase of 44 fr￿rt 31# De￿rnber 2023. TRUSTEE RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS The charity trustees are responsib￿ for preparing a trustees annual report and finanual ststeM￿ts in accordance with applicab￿ and unrt￿ ￿rI￿d0M AxouniiTrJ st￿darl$ Iunrted KJ'ryJth)m Generalty Aewted Accounbng Practscel. The law applicable to charilies in Scotknd require5 the Trustees to prepare finènrial ststemsylts for each fnancBI year which show a trué and fair ofthe state of affats of the charty and of its ffinancial aCtNit￿￿ for thgt peiiod. In prepgring these financigl siatemenls, th• trustees are required Select yuitable •ecounting poli¢•$ and than apply thwn consistenlty." Observe the method and prin¢ipl&s in ￿ applicab￿ Charil*s SORP. Make judgements and •stimates that are re•sonat40 and kyudert.. 10 Slate whether applUb￿ accounts.ng st¥tdards anol ststements of recommended practsce have t)een followed, subj'ect to any departures drsclosed and ewained in the finanGial stalements", a Prepare the financral stalerr*nts on Ihe swing ￿nCern basis unkss it is inappropriate lo e$Un￿ that tharity will continue in operalic¥i81 existence. The Truslees are responsble for keeping Fyoper ￿Coun￿r0 r8¢ord$ vthich disdose with reasonable accuracy al any t'me the finan¢bal wsrtK•n of the Charity and to 8n8bla them to 8nsure that the firarKial $tat•rTenls compty with the Charil*$ and Trustee Investment IScoUand) Act 2005 and the Charitlos Accounts (Scotlandl Regulaknons 2CQ618s am￿ded) ThLy are also responsible feguarding the assets d the th8rFty aAd h￿e for takiThJ reasonabk* slerts for the preVent￿n and detect￿n of fraud other irregul¥rtEs. The trustees a￿ resp9nSib￿ for the maintsrnr)¢e and intsgrity of thè ¢harty and financk?I infomation on th8 collgregab¢Jl'S websrte. Legislation in ihe United Kingdom governiThJ the preFaf8tion a￿1 dtsswninakn.on d finanaal stalewtsnts may drffer frorn bgLslatk)n In other jurisdictions. d b the Trustees and si nee on their behalf on Minister 11 EDIN8URGH: THE NEW TOWN CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EDINBURGH: THE NEW TOWN CHURCH OFSCOTLAND YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audrted the financial statements of Edinburgh.. The New T¢)wn Church of SCO￿and Iformerfy St Andrews and Sl George's West Church of S¢oUand, Edinburgh) (the 'charity'l for the year ended 31 December2024 which comprise the statement of financial athV￿es, balance sheet, cash flow ststement and the ￿lated notes, including a summary of $￿n￿eafit accounting pol￿￿. The financial reporting frarr*work that has been applied in their preparation is applicable law and United Kingdom Accounlin9 Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United lQngdom Generalty Accepted Accounty"ng Prath"cel. In our opinion, the finanaal statenEnts.' give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of rts incoming resources and applKab"on of res(wrces, including rts income and expendilure. for the year then ended.. have been propedy prepared in accordan¢e with United Kingdom Generally Accepted Accounting Prath"o'. have been prepared in accordance wrth the requireffents of the Charitses and Trustee Investment IScotland} Act 2CQ5 and Regu￿t￿n 8 of the Charrt* Accounts Iscollandl Regulations 2006 {as amended). Basls for oplnlon We conducted our audr( in ￿ance with Intemational Standards on Audth'ng IUKI IISAS {UKI} and 8pplicable law. Our responsibilitses under those stsndards are fvrther described in the audrtor's resp)nsibilities for the audit of the financ￿1 Stater￿nts section of our report. We afe independenl of the Charity in accordance with the ethical requirements that are relevant to our audit of the financral statements in the UK, including the FRC'S Eth￿1 Stsndard. and we have fulfilled our other ethical responsibilrties in accordance with these requirements. V* believe that the audit evbdence we have obtained is sufficient and appropnate to prO¥￿e a basis for our opinion. Concluslons rnlallng to golng concom In auditing the financial stslements, we have ¢on¢luded that the trustees, use of the going concem basi$ of accounting in the preparation of Ihe finanaal Statements is appropnate. Based on the work we have performed, we have not thntFfied any material uncertainbes ￿lating to events or condrtions thal indNidualty or collectivety, may cast signfftanl doubt on the charity's ability to conbnue as a going concern for a period of at ￿a$1 twefve rrK)nths from when the financial statements are authOr￿e￿ for issue. Our reswnsibilib.es and the resp)nsibilities of the trustees tmth respect to going concem a￿ des¢ribed in the relevant sections of this rewrt. Oth•r Informatlon The other information comprises the inforn￿￿ included in the annual report, other than the financial ststements and our audrtols report thefeon. The trustees a￿ responsible for Ihe other information contained within the annual report. Our wnion on the finanaal statements does nol cover the other information and. except to the extent otheThMse expliryty slated in our reF4rt we do not express any fom of assurance conclusion thereon. 12 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EDINBURGH: THE NEW TOWN CHURCH OFSCOTLAND YEAR ENDED 31 DECEMBER 2024 Other informatlon l¢onl'dl Ouf responsibility is lo read the other information and, in doing so. conshder whether the other information is malerialty inconsisteftl wth the finarrial stslements or our knowledge obtained in the audit or otherwise appears to be malerialty misstated. Ifwe identify SLKh matenal irtconsistencies or apparent matenal misststements, we a￿ ￿Uired to detennine whether there is a matenal mIsstate￿￿Dt in the financial statements themselves. If, based on the work we have performed, we conclude that there is a matenal misstatement of this other infoThakn. we a￿ required to rei))rt that fart have nothing to le￿rt in Ihis regard. Opinlon8 on other matter4 prn•crlb•d by th• Com￿￿188 Act 2006 In our opinion, based on the work undertaken In the course of the audrt.. the information gNen in the trustees, report for the financial year for which the financial ststements are prepared is Consistent with the financial statements.. and the trust￿$, rerth has been prepared in accordance with appl￿ble legal requirements. Matters on which we are r•qulr•d to report by exceptSon We have nothing lo ￿pOrt in respect of the followng matters in relab'on to which the Charittos Accounts (Scollandl Regulations 20C6 {as amended) reqUI￿S us to report lo you if. in our opinion. the inf0m￿tiOn given in Ihe financial statements in inconsistsnt in any material ￿$[￿1 wilh the trustees, report. or proper accounling records have not been kept." or the financial statements are not in accordance wth the ac4xJuntiry records.. or we have not recEived all the inft>m)ation and explanab"on$ we require for our audit. Respon$lbllitl•8 of tr￿te?3 As explained more fulty in the trustees, responsibiltb.es statement the trnstees are responsible for the preparation of the financial staterrEnts and for being satisfied that they give a true and fair view. and for Such intemal control as the tnjslees determine is necessary lo enable the preparabon of financial statements that are free from mater￿5 mtsstatewc whether due lo fraud or error. In preparing the financial $t*ments, the trustees are res[￿sIble for assessing the charity's abilty lo continue as a going eon¢em. disck)sing, as applThble. mattets related lo going ¢on¢em and using the goin9 concern basis of accnunting un￿S the trustees intend to INuidate the Charity or to cease operations. or have no realistic altemative but to do so. Audlior's respon$ibllitl•8 lor tho audlt of tho flnanclal 8tat•m•nts We have been appointed as auditor under tseCt￿n 4411lc of the Charitses and Trustee Investment Iscodandl Act 2005 and report in accordance wth the Act and relevant regulatsons made or having effect there￿r￿eT. Our objectives are to obtain reasonable assurance ab￿ whether the financial statements as a whole a￿ free from material misslalemenL whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assuran￿ B a h￿h level of aSsUrar￿e. bul is not a guarantee that an audit conducted in accordance wrth ISAS (UK) will ahtsys detect a matenal misstaten*nl when il exists. Misstatements can arise from fraud or error and are conside￿d material rf, individually, or in the aggregate, they could reasonabty be expected to Inlluence the e￿nOmiC decisions of usefs tsken on the basis of these financial staterrents. 13 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF EDINBURGH: ThE NEW TOWN CHURCH OFSCOTLAND YEAR ENDED 31 DECEMBER 2024 Audltor'8 ro8ponslbllltles for th• audtt of tho flnan¢lal stsloments Icont'dl Irregularities, induding fraud. are Instanc85 of non. Wè communicate with those charged wrth goveffAncè warding, amcK)g other matters, the pkmed sc￿pe and timing of the audit and sKJnificant audit findings. irrluding arty Swjnif￿nt deficiències in internal control that identrfy during our audit. Use of our report This report is made to the charty's rnembèts. as a b)dy in accordance with ReguL3ts'on 10 of the Charities Accounts IS£ollandl Regulats'ons 2006 las amended). Our audil ￿ork has been uTrJertaken so that we muhl state to the charity's M￿berS Ihose matter5 we are requir&J to state to them in an auditorfs report and for no other purF¥)se. To t￿ fulkst extent pemrtted by law, we do not a￿ept or assu￿￿ responsibilty to anyone ther Ihan Ihe tharty the chanty's memters as a b(MJy. for our audit work. ftjr this reFort or for the opinions we have formed. 28 Edinburgh EH1 2BW quare 2f25 Gibson M¢Kerrg11 Burrows knn*ed 1$ ely'ble b act as an aujitor in terms of s@ctK)n 1212 of t Companies kt 20C 15 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES The priwpal aceounting poI￿leS. whth have been ¥plied consistenty in the current and preceding year, in deaing with rtems wh￿h are considered material lo the Acc￿jnts, are set (xrt below. Gonoral Information The charity is a registered charity in Scotland and 15 uninCo￿Kated. The address of the pn"ncipal office is 13 George Street. Edinburyh EH2 2PA. 8a818 of Pr•paration The financial statements have been prepared in accordance wrth applicable acts)unts"ng standards and under the historical cost convention, mojthed lo reflect the inclu$KJn of investrnènts at market value and in accordance with A£counling and ReFQrting by Charitss.. Statement of Recommentjed Practu appl￿b￿ to charities preparing accounts in accordance with the Financial Reporting Stsndard aPp1vb￿ in the UK and Republ￿ of Ireland IFRS1021 leffectrve 1 January 20191 (Charrties SORP IFRS1021) and the Financial Rewjrting Standard applicable in the United ￿ngdorn and Repu￿1¢ of Ireland IFRS1021, the Chaiiti'es and Trustees Investment (Scollandl Act 2005 and the CharIt￿S Accounts IScottath41 Regulations 2006 las amendèdl. The church constitutes a publ￿ tenefit entity as defin&l ty FRS102. The financial ststeff*nts are prepared in steding. whth is the furKticffjal currency of the entty. Going cOn￿rn There are no material Un￿rta￿t*S about the chanty's ats'lty to continue. The￿ was a s￿nrf￿nt MKrease in the value ￿ investrnents. Judg8m•nts and key source8 of •8tlmatlon uncertainty The preparation of the financial statements requires management to make judgements, e$timats5 and assumptions that affect the amounts reported. These e5b"mate5 and judgements are continualty revwed and are based on experience and other lactors. induding expectabons of futu￿ events that are believed to be reasonab￿. 16 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2024 ACCOUNTING POLICIES {Cont'dl Fin¥nGlal In8trum•nts A financial asset or a financial Ikqbilty is r￿n￿l onty *then the entty bgcomes a to the conltactual provis￿nS of the instrument. Basic financial instrLFments are initkqlty recognised at the amount receNable or payable irKluding any related transaction costs. unless the arrangement ￿ns1rtUtes a financang tranSact￿n, where it is rgcogntsed al the piesent value of the future payments di%ounted at a mathel rate of interest for a similar debt instrument_ Current assets and current liabilitses are Subsequentty MeasU￿j al thg cash or other ConS￿er3t￿ln expected to be Pa￿ or received and not discounted. Funds Funds are elassthed as wiher reslrthd funds (x unfestricted lun(ts, defined a8 fdkh¥S.' R￿trIcted Funds are funds sufy'ect to requirements as to their use wh￿h may b declared by the donor or wth Ihetr authonty or created through *al prctess. bul still ￿thIn the WKler objects of the charty. Unrns*l¢f•d Funds are expendable * the d￿Cretion of the trustees in furtherance of Ihe o*'ects of the charity. If parts of the Unrestr￿ fvnds are earmarked ot the diSCret￿n ol the Iruslees for a particukr purpose. they are deSign*t￿ as a separate fur￿. This designation has an administratwe purFThe onty and dces not kgalty restrKt the Irustees. discretson to appty the fund. Incom• I donations, grfts and other ine4)me itern8 are incI￿jed wrthin income under eithe( unrestficted or restricted funds according to the lems under which the donab.on is made and when the amounl can be quantified with reasonab￿ certainty. t)Qnat￿n6 and grfts in kind are brcmjght ￿t0 the Accounts at their market VolLte to the charity. Expendlturn LIabilit￿S are reccgnised as eXpendrtU￿ as soon as there is a ￿al or con$truth"ve obligation 0mm￿1n9 the chaTrty to the eX[￿￿tt￿re. Éxpendrture is accounted lor on an accruals basis. Expenditure is allcKaled to the part￿uL8r actNity where the cost relates directty lo that activty. Irrecoverable VAT i¥ treated as an expense il ￿nn0t reasonabty alkKated to the onginal èxpense due lo the appluth)n of parti?1 exemptson to the VAT calculalKins. Costs of Rai%ing Funds.. Costs of raising funds include all expenditu￿ for the Chiistian Aid Sale and Festival Events. Charrtable Admties." Costs of charrta￿e &twrt" *s indLKle all expenditure for providing w0￿h1p in various forms and &tNit*s withwi ts corvJrogath)n. T4nglble Flxed A88•t• The charity has the nghl to ￿UpY and to use for its charitable otyects certain kngl￿e fixed assets compn5ing the Church propety at 13 Geor9e Street. Edinburgh and al la and 1b Royal Terrace. Edinl)urgh which are vested in the Churth of Scotland General Tru51ees. No nsKleiatDn is payabbe for their use and. for Accounts pUrP￿s, they are not consKlered to be assets of the Church. Eypenditure incurred on the repair 17 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (confd} Tanglble Flxod Avots {cont'd) and maintenance of these assets is charged a$ resources expended in the slatement of financial tivrties in the per￿ in whKh the liability arises. The church also owned a manse al 25 Bank. Edinburgh. The cost was £150,000. It was during the year whth resulled in 8 9ain of £879,957 after remitting the sum of £23,1911o the church of scO￿and as require by the Regulations. Part of the were rfrinvested in o new manse al 8, 8erry Drive, Edinburgh at a cost of £670, 167. The pro￿ty is not depreciated as. in th& opinion of the trustees. the resK4ual value at the end of rts useful economic lsfe such that any depreciatK)n charge woukl not be material. Except for heritable propety and irtvestments, all tangible r￿ed assets are capilalised where they are conside￿d lo have a value lo the charty twond one year. DePreciat￿n is provided on a straight line basis as noted beknw to wnte off the cost or initkgl value. les6 re8￿U81 volue. of the assets ¢wer their useful lives as follchv5'. Piano 5% of orignal cosl on Straight line bas Fixtures and equipment 20% of onginal C*)St on stravJhl line bows Investmfjnt8 Fixed asset investments a￿ stated at market value at the date of Accounts. Unrealised gains and losses repfesent the drffererKe ￿￿een the market value al the beginning and end of the financial year or. rf purchased in the year. the drfference t£￿een cost and market value at the end of the year. Realised gains armj losses represent the drflerence be￿¢en the proceeds of disposal and the Ma￿et value at the start of the year or cost il wrchased in the year. Stoc Stock i8 valued at the Imr of cost and net realisable value. Fabric Costs Nomal fabrK repairs and maintenance costs are CP￿rg￿l to the General Fund. Extraordinary fabric repairs and improvements are met diredty from the desonated Fabric Funds. If they wouk not leave an adequate balance in the Fab￿ Funds. they are met directty from the General Fund. Nots¥ilhstsnding this. rt is the poliry to first rttkim tfr£se costs from the balar+ce in the Consolidated Fabrt Fund. 18 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL sTATEmE￿s FOR THE YEAR ENDED 31 DECEMBER 2024 AccOUTr￿1￿G POLICIES (conl'dl RKlalm ofCo¥ts Church of scot￿nd Regulations pem)it ￿ reclaim ol certain annual and exceptional costs fr the balance in the ConsolKlaled Fabiic Fund. These costs include fabric repairs, heat. IKJht & p)wer and proFerty insurance. It is the polry to redaim these costs on an annual basis. Taxatlon The Church ts recognised as a chanty for the purFrt)sts of applicable taxakn legislatson and it is not thefefofe subJ.￿t to L￿allOn on its nom)al actwibes. Grants The church receives grants fof various aspects of its work from tine to time. The portion of these grants which is exPe￿jed in the year is included under voluntary income in thè statement of financial activities and any eorresFrt)nding expendilurn ts shown accordingty. The balance of any grants not used or dwgnated for use in the year is carrigd foThMd under deferred inc4yng in the Slalement of Funds. Ponslons The church OFer*ed a defined contribulN?ns penS￿n scheme for the tenefit of gome of its employees bul all are nchv in a pens•Jn. contribut￿n$ payab￿ are charged to the profrt arKI bss account in the year ui which they are payable. T•mln•tlon 8•n•llt8 TeTminatson benefrts are amounts payabkn as a result of a d￿'s1on by the tharty to temiinale an empbyee's empbyment before the nLYmal retirement dale or an employee's decisDn lo accept voluntary redundancy They arè charged on an accruals basi5 to the statement of financial actNi1￿5 when the charty is denw)n$trabty committed lo the terminat￿n of the employment of an empbyee or group of empknyee¥ or makiryJ an offer to encourage voluntary redundgncy. 19 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND STATEAIENT OF FINANCiAL ACTIVMES lincluding In¢orn and 0xp0ndi￿rfj account) YEAR ENDED 31 0ECEII8ER 2024 Tolal Year 2023 Fwwjs FLW)Js FuTrJs Funds t*natio￿ aTrY *gKie¥ Charftat4e Acbwties 149.198 86.470 45,1 242 149,440 80.4YO 157.153 78.261 28.997 19.229 37.853 519.493 388 357.539 78.261 87.610 114.607 20.￿3 37.853 88.830 PA)8 323 24273 In¥tstrnonts 41.021 Tot•1 Irbcom• 805.5CiI 23.475 Exp•ndliurn on.. Ra&%iNJ Fth18 18.781 391.321 408.102 32.849 44,630 396,027 13.071 88.857 99.928 294.074 7.054 301.128 307.145 93.911 401.096 Total Exp•ndltyrn Il•t IncrNTWl•¥p•rbdhur•l b•lor• galWlo••wl on In¥o•tm•nl¥ •nd Prop•￿ 7.398 112.8WJI 314.711 212.3dB 15.0811 207.267 42.973 42.973 Gain on ￿￿POSal of pro W•t I￿Orr￿•xp•ndI￿rn1 10 879.957 1.387.589 112.wl 1.354.￿9 255.321 15,0811 250.240 1.367.5bg 12. 255,321 5.081 Reco￿11￿¥￿¢￿ of fund&. 1.312.649 2.680238 74275 61.595 924 1.057,328 741833 1.312.849 79 356 1,136,684 74.275 1 386.824 Totsl cartsd I¢￿1¥d EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND BALANCE SHEET AS AT 31 DECEMBER 2024 Unre5tncted Restrth Funds Funds 2024 2024 Tolal Funds 2024 Total Funds 2023 Nots Flx•d A8s•t• Tongible Fixed Assets Invesknents Totsl Flx•d 10 694.6L 1.570, 183 2,264,789 1 $7,533 937,741 1.095,274 35,907 35,907 1,606,090 2,300.696 urr•nt A83et• Stock Debt(Ks Bank and Cash Total Currnnt A￿•t* 1,297 68.539 3*,886 466,722 1.297 68.539 422,574 492A10 881 74,756 245.153 320,790 12 25,688 25.688 Current Llabllftl•8 Fgllinq due wllhln one year Credslors 13 51,2T3 51,2T3 51,273 51,273 29.140 29. 140 Nel Current As80ts 415.449 25.688 441,137 291,650 Nel As8•ts 14 2.680,238 61.595 2,741,833 1.386,924 The funds of th¢ Charity Restrl¢ted Income Funds 15 61.595 61,595 Unrnstrlct•d Inwn• Funds General Fund Designaled Funds 15 1,054.394 1,625.844 2,680.238 1.054.394 1.625.844 2.680.238 993.220 319.429 1,312.649 Total Funds 2,680,238 61,595 2,741.833 1,3￿.924 The N￿ouNts were apFThwJ by the Kirk s￿'On on l ¥ pl￿￿. 21 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND CASH FLOW STATEMENT AS AT 31 DECEMBER 2024 2024 2023 Cash fk)ws from operaling activili8s Cash generaled from operatbons- see bekn¥ 374,420 226,432 Net cash generated from operating actpirt 374.420 226.432 Ca8h flows from Investlng actfvltles Interest and DivKJends Purchase of Assets Purchase of Investments Proceeds from sale of assets Proceeds from Sa￿ of invesknents Increase in investrnent cash Net Cash used in irwestin9 actifvrt 41,026 1689.8671 (1,097,669) 1,029,957 553,173 33.619 196.999 20,063 (3.8941 (427,6821 289.381 1,612 123,744 Change in cash and cash equivalents in year 1nM21 102.688 Cash and cash eqtsNa￿nts brought fopKard 245,153 142.465 Cash and cash 4up4a￿nts carried forward 422.574 245,153 Net Incomg Add back depreciation charge Add back café depreciation charge Deduct Investsnenl Income Deduct gains from investments Deduct gains from disp)sal of assets Decreaselllncreasel in Strck Decre8selllncreasel in Debtors IncreasellDecreasel in Creditors Cash generated from oporatlon• 1,3S4,909 250,240 1,539 936 120,C631 146,6161 936 141,026 190234) (879.957) 1416) 6,217 22.133 374,420 (223} 1,673 226.432 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FII4ANCIAL STATEMENTS YEAR ENDED 31DECEM8ER 2024 Totsl Total Year 2023 FuThJs Fund8 Ofvrings Oonatk)ns Tax reCo￿ry on Grflfvwj 88.012 39.369 19.317 242 89.252 IXS.698 19.145 282 89.534 104 150.802 19.145 98.058 386 357.539 19,317 149.198 242 Weddings and FuneTaL% Underuoft Cafe Ir￿¥r Crnabve Toggther eookstsll Inc¢ Be1￿￿ngIng incom8 82.581 2.286 81581 TT.114 77.114 797 150 78.261 797 450 86.470 78.261 Cbiisban AKI Sa FeslN81 Events Irw Rental Incorne (Churth 24273 87.610 87,610 19.237 7.7eo 28.997 87 610 114,e07 15.699 29.437 45.136 15.699 29.437 89.409 19.237 24.273 4 Inbwtsn8nt Inccffl• D￿endS 8nd interest retewl Othw Intsresl 18.995 234 19.229 834 19,829 234 2Q,LK83 127 127 41.028 Transfer of un￿)n B811rt• 431,720 52.910 431.720 37.853 37 853 37.853 37.853 EDIN8URGH.' THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEME14TS YEAR ENOED 31 DECEPABER 2024 Totsl Total Year 2023 FU￿ FWKI 2024 FU￿￿$ An•tysls of Exp8Thlltur• O R•lslng Funds Chn$b8n Sa sa￿ Dtsbursw*nt to ch￿1¥n Festival Events Costs 1nv8s1rn￿l Manws kns 28.857 26.857 .(ts) 60.¢4>) 8.327 6.744 99.928 31,250 31.250 8,121 10.860 49.630 6.121 10.6eo 16.781 6.327 6.744 13.071 32.849 86.857 7 ChwftabhActlvlll•s Givirrta To Gmw cOntr￿U V8￿rKY AJ￿￿n 141.524 109.614 11,1 98,418 0 109.614 11,1 98.418 8.5 2.188 16331 130.328 8.930 2.718 130.32B 8,930 2.718 Locum Costs 2.188 18331 Wofkplacfj Chaplam Vacancy Cosis Mifi0￿8 Exp8nse8 Mink5tef$ Trml Expen Pulprt Suppty P851oral Assi$tanL* Staff cos manage￿nI & *JMInrdtr8￿Tr 512ff oxts F?bn"c repairs rn8hl1￿a Enèryy Wat¢r ratés Ra In8urane• Man8e covncil tax Chur¢h c188niTvJ CoMmun￿￿￿On$. Pnw & Postsps Cornputer costs Teknphor MUS￿ cc6ts CcffnrnunvJn Experts Educabon expgn Sundry 8xperises ProfessK)nal fees Undercroft Café tradHYJ costs Under¢roft café ernp￿yThnt ¢06 Books￿11 Costs OwreciatKtin of fixed aMei6 E•lPrirgirg ¢xo15 Benevok8nt Fund d￿1￿￿•m•￿1 Ajbany Churr* omts crea￿ TD3ether cosl ar*J dNtrMJrsém*i ChnJtma3 Tr88 ojsts AJJdil Foes Ftrthw Furth eosts Donabon lry•covwabb>VAT 2,018 2.018 2,678 1678 1.620 1.620 44.571 25,303 30.839 2.326 2.732 19.094 ¥S71 2&303 30.839 1328 1732 19.094 43,421 13, 32.475 43,421 13,563 32,475 10.501 12851 10.501 12851 8.661 3.414 6.661 3.414 4.963 1.744 2,078 1.155 1.Q87 2.076 1.155 1.087 4.202 1.744 170 753 3,330 27.784 27,197 797 1,539 170 753 3.330 27.784 27.197 797 1.539 2.698 3.616 26.2S1 34.144 3.618 .251 34.144 6,5C(1 6.$09 479 479 910 910 2.218 250 2,216 250 5.250 5.2SO 75 75 9.576 39t,321 9,576 396.627 3,945 294,074 3,945 7,054 301,128 Support ￿$1$ have Mt t*en separatety as ￿ trust•as cth)swJer fvre * onty o charl￿b￿ acti¥ty.' fvretse supwjrt ￿￿15 r81at8 Whts￿ to iw and h8¥e rvjt tee 24 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 8 Slaff c￿ts and Number8 2024 2(r23 Salaries and vragès Social wullty ctsts Pension costs Other Staffing Costs 77.03S 360 1,248 72 78,715 70.Y26 1.493 72.419 The totsl number ofemployees durlng the year on the basis of an count was as fol￿￿. 2024 2(Y23 Numb•r Number Ministerial Management, administralK)n, mayitenance and secunty No employee had employee beneffts in exc￿ of £60.00012023- nlll. All Church of Scdand CLmgregatons cortn'bute to the N*￿nal Stipen¢J Fund vkn bears Ihe costs of all ministers. sbpend5 and emtyoyers. contributKins for national insurance. per6ion and housing and k)an fund. MinLStets' sbpends are pa￿ In COrda￿e with the nationa sb.pend scale. which is related lo years of wvice. For the year under revpw. thè miftirnum sti￿nd was £31.642 and ￿ maximum stipend in the 5th and subsequent years of service was £38,884 9 Tru$te• R¢mun•r*ion Ind Rolated Party Tr¥n8actlon¥ Travel and Othèr Expenses were re-imbL*sed lo Ihe Minister during ihe year arTh)unling to £O{2023-£0I and £O(2023-Q￿} to the Interim Moderator. Manse CounGil Tax of £0 was pahj {2023-refundeAJ £2851. Ned remunerati)n of£81612023-£633l8r￿ ￿Ned remunerati(m of £2101202> £0) toth for occasicnal •Jministrative seNices Other than Ihe al)￿￿, no trustee, of a related to a trustee, had any personal Intewst In any contract or tsan5actiw enÈred inio ty the ¢haTity during t1￿ year. During a total of £36,85912023 - £36,754) was donated lo the congregation by the trustees. 25 EDINOURGH.. TME P4EWTC*¥NCHiMICHOFgCOTLAND FK>TES FOPMNG PARTOF ThE F￿￿￿￿ STATEIIENTS YEIRENDEDJ1 DECEMBEA •71 ZQT. 070.1•7 192 410 I5.W 32VT O QJ52Tr 147 15]￿( 41t 1$7 T¢W O J)3 4aTT 0 207 Al JwwyX7J 2.413 47YSI 1S• 15 110.L152J •Y.Ibl 7V4 11¥14m Th.¥1) 4001• 9>1 191 401 118 42.9n ¥.73Y EDINBURGH.. THE NEW TOYIN CHURCH OF SCOTLANO NOTES FORMING PART OF THE FINANCIAL STATEMEtWJ YEAR ENDED 31 DECEAieER 2024 12 Dgt 2024 2023 Trade Lwors Grfl Tax R6fiJr%J5 thjè Due frcrn Churth of Sctsts￿ co1￿0￿￿ F￿)r￿ FuTrJ Stockbroker IrKxme ko)unt Other Debtor5 aTrJ pryyrnnts S.130 1.W)3 9.057 23,ON 22.737 2.976 25.LXJ) 28.097 16.059 68.539 74.7 13 Crodltorn Tr8de CRdrtor¥ VAT 20.124 3.238 11.oe6 3.423 14.631 29,140 14 Abi*•S• of NrtAMets Fth 6x606 35.WJ7 1.606,0 25.686 441.137 61.595 2,741 833 Inveslrnenis Net Cu￿ent Amets Net *6s815 at 31.12.24 284.510 1.285.673 75.278 340,171 1.054.394 1.625,8M Gerwal C*vJna Tolal 1S7.533 648.W 255.eiJ2 186.827 63.827 993.220 319.429 157.533 33.27Y 937.74t 40.M 291.650 74.275 7,￿.924 In¥estrrnTrts Nei Current Assets Nel￿sets at 31.12.rJ 15 Mov8m•nt In Fund• 01.01.24 IrKoff• ArfLo••l Tran•l•rn 31.1124 Chrffjbon Aid Fund een•voknt FuTrJ Paton Fufid Crea*'ve Spo¢4 Fund Youth Fund FlrthBr FurMJ Ajbany Deaf Chur 24.273 328 132.8491 14.3(bl 16.978 30,837 13,008 31.469 2,694 2.156 710 2,1 12,039 74,275 242 25.475 910 38.1SS 61,595 Unrostrf¢t•d Fund¥ l)eglgnaMd Funds F8bnc Fund Green5￿0 FurMI Choir Fund cTrab￿ Togthf FuThJ Ch￿￿#0$ Trng Fgstyval Fthj 304.049 879.957 431.720 I5.0￿) 0 1.1n,924 0 431.720 14.222 70 14.222 12.2161 250 1.158 319.429 1.313. 0 162S844 993.220 371.494 4CQ.554 9).234 0 1054.394 Toial Unr••trld•d Fun 1.312.649 1.685.457 408.102 90.234 Tot•1 Ful 1.3&3.924 1.710.932 446.257 90234 0 2.741.833 27 EDINBURGH.. THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 15 Mov•m•nt In FundB Iconfd InvMtm•nt At 01.01.23 In¢om• Exp•ndknr• Ga1￿{Lo8SI Trnn•forn 31.12.23 RMtrl¢ted Fund• Christian Aid Fund Benevolent Fund Paton Fund Creatwe Space FuThJ Youtr+ Fvnd Flower Fund Albany Deaf Church 8,012 23.204 30,277 2,694 2,156 777 12.236 79.356 87.610 274 (86,857) (6.500) 8,765 16.978 30,837 2,694 2,156 806 12,039 74,275 175) 479 93,911 282 88,830 Unrnsthcted Fund Dosignated Funds Fabri¢ Fund Choir Fun¢J Christma5 Tree FestNal FLnd 305,249 14.222 1.158 320.629 (1.200) 0 304,049 14,222 1,158 319A29 1,200 G•n•Trl Fund 736.699 519.493 305.945 42.973 0 993.220 Totsl UnrKtrl¢tod Funds 1,057,328 519,493 307.145 42.973 0 1.312.649 Total Fund• 1,136,684 60B.323 401.056 42.973 0 1386.924 chriskn.an Aid Fu￿1 For the recsyding of donations and the resutts from the annual fun&rni5ing events prior to disbutsement lo th* organisation. A charitable entrusted by an i￿￿￿tha1 to be administered by the lQ"th Session. The income and captsl is for charrtable causes approved by the ￿"rk Session a¥KI for individuals in need. A Charitable fvnd. enlrusted by an indiwdual to be administered by th& Kirk Sessw)n. The inwne arvj is for students for the ministry. prinapalty to assist them wrth the purchase of books. For the provision of 5pa¢e and Opportunit￿ to explore Ideas, ¢reatwrty and spirrtualty through a prwamme of courses and events using dialogues ar￿ other media. Youth Fund For wlh yourg pewe in the Church. Flower Fund For the prNsK)n of ficr￿S ￿ the sanctuary. Albany Deaf Church For ministry to the deaf communrty Purpos•s of Unrnstrictod D•slgnatsd Funds Designated Fatiric Fund For extraordinary repairs and improvements to church buildings. Greenside Fund For yjch purposes as may be detennined by the TrQ'rk Se￿On from me to t'me For the operab.on of the Creativee Together Group and digtribulion to exiernal charitie5 as approved by the Kirk Session from tsme to lime. Choir Fund For f(rture chow athiths {re4eggnated from Choir Tour Fund). Chrislmas Tree Festival Fund To ￿ fuThJs ratsed fw¢vn s￿h festNal8 for charitatAe purposes. Benevolent Fund Paton Fund Creative sp￿ Fund CrealNe Ttr>ther Fw purpo￿ of UTrr•strict•d Funds General FLWWJ Fry the generat purposes of tr* ChJr¢h. EDINBURGH: THE NEW TOWN CHURCH OF SCOTLANO NOTES FORMING PART OF TrIE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 16 Volunts•rs In common with all c￿ngregat￿$ ol ts Chwth of SeoUaThJ, the Cr*gregati￿ ben8ffts Ihg contribution made by volunleefs V•tho give thw"r b.me and talents willingly for the benefit of the Church. The areas of congregational life which rety on the Contritxrtl￿ of vcAunleers are many and varied arKI much of the aetm.ty knYJuld be unable to continue were tt not ft¥ the e4)mmitmenl shown. 17 Fundarnlylng •nd Collectlons for Thlrd Partl•s 2024 2023 Fundralslng and Coll•¢tlo Christian 31.250 60,000 Benevolent Fund Dlsbursom•nls Bethany Chrisban Trust Edinburgh Headway Intemabon81 Justsce Mission North edinburgh t)ementia Care Positive Help Mulanje Mission HosF%tsl Chaiitable Trust Soko Fund Mamie Ma￿'n Fund Edinburgh Eh'rect Aid Together We Leam MedThl Aid Palestsne 750 750 6,500 SpKlal Collectlons Edinburgh Direct aid Eart Haig Fund Mamie ma￿"n Fund 373 751 Donatlon Place For Hope Crnatlve Togeth•r Craft Falr Mary's Me816 Sl Cdumba's Hospbce 2.167 1.474 1,474 2.167 18 Café Summary 2024 2023 Trading Income 79.876 73.229 Trading Costs Stsffing Cosls 136.2511 {27.1971 34.144 27,784 0.395 54.981 Net SuTplusllDeficiti t)onatbons 0.481 2,705 12,186 18.248 3,B85 22.133 19 Festlval Summ•ry Income Costs Surplus 16.699 6,121 9.578 19.237 6.327 12.910 29 EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 20 Caprtal Commitm•nts There were no Capital Commrtments at 31 Oecember 2024 {31.12 2> None) EDINBURGH: THE NEW TOWN CHURCH OF SCOTLAND YEAR ENDED 31 DECEMBER 2024 APPENDIX TO ACCOUNTS (Not fomilng part of tho Ac¢ounts> Funds Held On Behalf Of The Congregation By Thg Church Of Scotland General TrwJtses 2024 2023 CAPITAL ACCOUNT Crgdit Balances held at 31 Oecember wunlon transfer Credit balanc08 held at 31 Dec•m￿r -union tran¥hr Credit balances held at 31 December at cost 679.549.31 5,100.00 684,649.31 679,549.31 679,549.31 Market Value of balances at 31 De¢ember 1.059.714.60 963,739.75 REVENUE ACCOUNT Credit Balance al 1 January Debit Balance at 1 January Revenue interest qle 31. 12 Revenue Inte￿$t qle 31.12 Insurance costs Property costs Propety costs Vodafone mast rent ft)r year Deposil Fund interest Deposit Fund interest Deposit FLbnd interest Growth Fund dividend Revenue Interest ￿e 31.03 Revenue lTrleffjst (Ve 31.03 Revenue Interest qle 30.06 Interest ole 30.09 Insurance costs Adminislralion costs- alkcatson of support costs 2023 Adminislratson costs- allccalion of support costs 2024 a1 Green5ide mast rent lor year Propety costs Administsatson costs4lk)c4tion of support costs Q2 Administrats"on costs -alltxation of support costs Q3 Administration costs 4lkX8t￿n of support costs Q4 Mast rent to congregation Addit￿n81 mast rent Property costs Dewsrt Fund interest Growth Fund divKlend Credlt Balance at 31 Docombor Union Transfer Union Transfer 343.30 1827.68) 265.23 (10.341 110,060.721 I12￿23.11) 19.298.38 166.66 18,369.181 1930.001 18,167.041 15.115.23 6.88 15,115.23 111.73 10.22 22.27 15,696.57 59.72 13,218.16 105.30 350.86 492.10 169.48 18.993.17} {883.57) 11h30.671 (999.06 14.948.22 111,269.071 12.005.26) (22.80) 1642.65) 130,063AS) 3.800.00 115,115.231 1725.001 10.05 6,609.08 343.30 144.71 6.609.08 615.10 31