The Church of Scotland St. Michael's Parish Church Church of Scotland Accounts 2024 Congregational Number 010098 Charity Number SC009038
St. Mlchael's Parish Church Church of Scotland Year ended 31 December 2024 The trustees present their annual Teport and financial statements of the charity for the year ended 31 December 2024. The financial Statements have been prepared in accordance with the accountin8 policies set out in note I to the accounts and comply with the General Assembly regulations for Congregational Finance. the Charities and Trustee Investment (Scotlandl Act 2C()S, the Charities Accounts (Scotland regulations 2LKI6 las amended) and Accounting and Reporting by Charities-. Statement of Recommended Prartice applicable to charities preparin8 their accounts in accordance with the financial Reportin8 standard applicable in the UK and Republic of Ireland published on 16 July 2014. Oblectlves and Actlvftles The Church of Scotland is Trinitarian in doctrine. Reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout the world. As a national Church. it acknowledges a distinrtive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial minlstry. It co-operates wrth other Churches in various ecumenical bodies in Scotland and beyond. ACHIEVEMENTS AND PERFORMANCE In 2024 St. Michael's continued to offer the ordinances of religion to our parish and all who came. In October we planted 140 bulbs in the church garden to mark St Michael's 140 years of worship and service in the community. We celebrated the Christmas Sea50n. Lent and Easter, Pentecost. Harvest and Remembrance Sunday as part of our weekly Sunday services. We took part in Prisoners. Week and collected toys for the children of prisoners in Saughton Prison for their Christmas presents. We sent cards to prisoners unjustly treated as part of Amnesty International's Write for Rights campaign in December. We offered monthly mid-week services Time Our and Soup lunches after the service in aid of church funds or charities we support le.g. Fresh Start. Bethany Christian Trust. Christian Aid). The minister conducts monthly services in North Merchiston Care Home. The Guild and the Friendship Club met every second week offering stimulatin8 talks and fellowship. The Coffee Momin8 took place monthly durin8 the winter and the Film Club met monthly to watch a film and talk about its meaning. Once a month we met for Pious Pints in the "Dig8ers" pub, for a reflection and discussion in an informal setting.
We welcomed Craiglockhart Primary School into church for their summer and Chrlstmas Assemblies and a visit from Primary 4. We hosted the school's holiday Club in our halls during the Summer and October breaks. In June we took part in the Canal Festival with a stall in Harrison Park. Over the summer (from June to Au8UStI we met for coffee in the church 8arden lor hall if it was too wetl. The garden was kept looking well with uttin8 the grass and volunteers doing much weeding and pruning. We even relayed the path at the back thanks to some strong men. Durin8 the festival we hosted a series of concerts by visiting and local artists which was well received. Occasionally we offer the church to other musicians for concerts like a 8roup of German women tiavelling through Scotland and performing as "Belcando.. The church magazine The Towert was issued quarterty to keep people who cannot come to church informed and to reflect on the future tO8ether. th We had the joy of celebratin8 the 50 anniversary of the ordination of the Rev Margaret Forrester in January and the faithful long service of seven of our elders in December {five 40 years, one 38, one 37 years). We are very grateful for all their commitment and dedication. The Presbytery Plan of Edinburgh and West Lothian Presbytery was finally agreed in April 2023 and stipulates that the four congregations of Barclay Viewforth, Craiglockhart, Polwarth and St Michael's are to unite. At least one of the four building5 IS to be released and it has been decided that the buildin8 of 5t Michael's is to be put up for sale at the end of 2026. This news caused us great pain and we appealed the process by which the decision was made. Sadly. the appeal has been rejected {February 20251. The four churches have met regularly to plan the union and have together found a name for the new parish which, once agreed by all, will be voted on in the 'Basis of Union. The four congregations were invited to a number of joint events (Burns Supper, Qulz, Sharingfood and stories, Strawberry Tea, Ceilidh, Maundy Thursday Supper and an Easter Holiday Clubl. The ministers continued to swap pulpits. The minister conducted the funeral of 12 people. four of whom were members. We celebrated one wedding and one golden weddin8 at St Michael's and three baptisms and one ble5sin8 of a child. Six people joined by confession of faith. We supported three people in their discernment foT God's callin8 in their lives and one probationer in tr3ining as Formation Partner.
In February the minister became Moderatorof Edinburgh and West Lothian Presbytery which turned out to be a busy honour with 7 services of union. 3 ordinations, l induction, four Presbytery meetings to chair, one Presbyteryfuneral. one preachin8 engagement fora church celebrating an anniversary, one speaking engagemeftt for a Guild meeting and worship at a Presbytery 8athering on Assisted Oying. Numbers attending worship remained steady around 55-65 worshippers per week at the morning service. At the midweek service numbers were approximately 12. The bereavement service attracted 30 worshippers. The Christmas services proved popular with 46 artendin8 on Christmas Day, 98 people attendin8 on Christmas Eve. It has been another challen8in8 year 8iven the prospective Closure of our buildin& causing much anxiety, anger and uncertainty amon8 members and the community. Yet the gospel has been preached and lived amon8 us and we walk onwards with faith. hope and love as best we can. We thank everyone who contrlbuted In large and small ways to the Ilfe of St Mlchael's con8regation. May God bless all your 8i¥in8 richlv.
st. Michael's Parish Church Church of Scotland Year ended 31 December 2024 Financlal Revlew St. Michael's main source of income comes from members and friends of the congregation. Their weekly contributions in 2024 were £34.512 {2023.' £36.846) a decrease of £2.334. We have approximately 45 households givin8 by Gift Aid (including 38 by bank transfer) and 17 giving by our non-gift aid weekly freewill offering scheme lincludin8 10 givin8 by bank transfer). Another source of income is throu8h hall lets and this year we received £18.741 an increase of over £4.CQO on the previous year. While we lost some re8ular users in the year. we were fortunate to have the local primary school after school dub during the school holiday dates. General Fundraising also increased from £6,251 last year to £8.096 this year. St. Michael's transferred £9.412 (2023". £20.8681 from the Church of Scotland Consolidated Fabric Fund to off-set the cost of our insurance premium. One of our largest items of expenditure was £45.89712023: £42,169) being our contribution for Givin8 to Grow which is calculated by and paid to the Church of Scotland. In 2024 we spent £46.IKK) on fabric repairs to the church and halls, a lar8e roof repair costing £42.1XKJ. replacing 9 fire extinguishers at a cost of £830 with the remaining balance spent on general maintenance corttracts. electrical repairs and other small repairs. We also spent £2,830 on our church manse, upgradin8 the electrics at a cost of £2.220 with the remainder spent on small repairs. Restricted FurKI- The Gulld At 31 December 2024, the Guild (which is a restricted fund) had a balance of £6.35212023: £8.125} with income of £2.056 and expenditure of £4.980. The Ramsay Bequest Fund is also a restricted fund. This Bequest was left to the Guild for expenditure on social events. The balance at 310ecember 2024 was £19,844 (2023: £20,599). Investment Poliry and Performance St. Michael's and the Guild hold investments wtth the Church of Scotland Investors Tnjst to secure funds for future use and to provide annual income. The total dividend income provided by our investments in 2024 was £IO.CK1912023: £8,607). The total unrealised gain on our Growth Fund Investments was £19,57112023: £15,301). The total unrealised gain on our Income Fund was £867 (2023= £3.4691.
Rlsk Management The trustees recognise the responsibility to assess and manage potential risks to the charity. This involves identifying the major types of risks which the charity faces and assessing the impact and likelihood of occurrence and identifying means of rnitigating them. The major risks have been identified as the risk to the building and contents, fisk to members and users involved in the charity and activities. Appropriate insurance cover ha5 been taken out to cover all of those risks and is reviewed annuallv. As mentioned above in the ACHIEVEMEPUS AND PERFORMANCE section the Presbytery Plan stipulates that the four con8re83tions of Barclay Viewforth, Craiglockhart, Polwarth and St Michael's, are to unite. It has been decided that the building of St Michael's is to be put up for sale at the end of 2026. The 4 churches will vote mid 2025 on the Basis of Union and Team Ministry. Reserves Poll The charity trustees have considered the reserves required and have taken into account their current and future liabilities. It is the Trustee5' policy to hold reserrfes of approximately six rnonths, expenditure includin8 designated funds. At 31 Oecember 2024. St. Michael's held unfestrirtÈd funds of £439,63012023: £445.252) of which £281.93212023'. £303,220) has been des18nated for fabric and the continuin8 restoration of our Grade A listed buildin8 and maintenance of the Manse. The remainin8 balance of £157,698 (2023.. £142.0321 will cornfortably meet Ouf 8eneral expenditure. The church a150 hold5 £26, 19612023.- £28.7241 of restricted funds for the work of our Guild. Structure, Governance and Management The con8regation of St. Michael's is a re8lStered charity. number 5CI))9038 and is administered in accordance with the terms of the Deed of Constitution Iunitary Forml and is subject to the Acts and Re8ulations of the General Assembly of the Church of Scotland. Members of the Kirk Session are the charity trustees. The Kirk Session member5 are the elder5 of the church and are chosen from those member5 of the church who are considered to have the appropriate gifts and skills. The minister, who is a member of the Kirk Session, is elerted by the congregatlon and Inducted by presbery. The Klfk Session whlch rneets slx tlmes a year Is responsible for spiritual affairs within the church. Much of the business of the church is assigned to the Fabric and Finance committee, the Fellowship and Outreach committee, Worship and Teaching committee and the Pastoral Care committee. Workin8 teams meet appropriately and report to each meetin8 of the Kirk Session.
St. Michael's Parlsh Church Church of Scotland Year ended 31 December 2024 Reference and Administratlve Informatlon Trurtees Charity Narne.. Sr. Michael's Parish Church, Edinburgh Charity Re8iStration Number: SCC¥)9038 Con8regational Reference Number-. 010098 Indèpendent Examlner Bankers Bank of Scotland Comley Bank Branch 43 Comley Bank Edinbur8h EH4 IAF
St. Michael's Parish Church Church of Scotland Year ended 31 December 2024 Trustees, Rosponsibilitles In Relation to the Financlal Statement5 The charity trustees are responsible for preparing a trustees, annual report and financial statement5 in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Pratticel. The law applicable to charities in Scotland requires the charrty trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the chartty and of the incoming resources and application of resources. of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accountin8 policies and then apply them consistently; observe the method and principles in the applicable Charities SORP- make judgements and estimates that are re350nable and prudent,. state whether applic3ble accounting standards and statements of recommended practice have been followed. 5ubjert to any departures disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence. The trustees are re5pon5ible for keeping proper accountin8 records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotlandl Act 2CrfJ5 and the Charities Accounts (Scotlandl Regulations 2006 las amendedl. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation's webslte. Legislation in the United Kingdom governing the preparation and dissemination of fsnancial statement5 may differ from legislation in other jurisdiction5. Approved by the Trustees and signed on their behalf, Date:
St. Michael's Parish Church Church of Scotland Year ended 31 December 2024 Independent Examlnerfs Report to the Trustees of St. Mlchael's Parlsh Church Year ended 31 December 2024 I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 11>21. Respectl¥e resPon411t4es of trustees and examlner The charity's trustees are responsible for the preparation of the accounts in accordance with the terrns of the Charities and Trustee Investment (Scotlandl Art 2005 and the Charities Accounts (Scotlandl Regulations 2CQ6 las amended). The charlty trustees consider that the audit requirement of Regulation 10111 lal to Icl of the Accounts Regulatlons doe5 not apply. It Is my responsibility to examlne the accounts 3$ rèquired under sertion 4411) Icl of the Art and to state whether particular matters have come to my attention. 8asls of Independent examlnerfs statement My examination is carried out in accordance wlth Regulation 11 of the Charities Accounts 1Scotlandl Regulations 2006 las amendedl. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedure5 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 accounts. Independent examlnerfs statement In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 4411) lal of the 2CK)5 Act and Regulation 4 of the 2CKJ6 Accounts Regulations las amendedl. and to prepare accounts which accord with the accounting record5 and comply wlth Regulation 8 of the 2006 Accounts Re8ulations las amended) have not been met. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Signature.. Date: ............... l L/..o..4-./.z.o..&.-4 On behalf
Edlnburgh St. Mlchael's Statement of FSnancial Actlvlties Year endlng 31 December 2024 Unr•rtrl¢t•d Restrftt•d Gulld Fundi 2024 Unrestflcted Restrlct•d Gulld Funds 2013 Funds 2024 Total 2024 Funds 2023 Total 2023 Incorne endowrnentsfrorn: Donations and IaCleS Charitable activities Other trading activities Investment5 Other Total Income Plote 62,185 8,939 18,741 15.870 1,619 284 63,804 9,223 18,741 17,140 9,411 118.319 45,921 10.470 14,680 13,342 1,405 622 47,326 11.092 14,680 14.201 20.868 108.167 1,270 859 115,146 3,17J 105.281 2,816 Expendlture on: Raisin8 funds Charitable activities Total empendlture 82 141,845 82 146,825 90 103,474 103,564 90 106.501 106,591 3,027 5,017 N•t kxthnell•JtpendltsKel Ixforèo•h and losses 11 qn71 128,5881 1,717 1,576 Net gaIn{lO$Se$l on investments 19,817 621 20,438 18,285 4A6 18,771 Net Incomel{expeftdlture) 11 )A61 20,002 345 20.347 Transfers between Funds Net mo%Tment Sn funds 14 1,342 5,622 3,438 23.440 20.347 Reconclllatlon olfvnds: Total funds brought forward Total fvndscarrled forvArd 445,252 439,630 28,724 26,196 473,976 465.826 421.812 445.252 31,817 28,724 453,629 473,976 io
Edinburzh St. Mlthael's Balance Sheet at 31 Dember 2024 Total 2024 2024 2024 2023 2023 2023 Flxed Aet. Instments Total Fixed Assets 7 2(8 322 960 Current Assets Debt5 Cash at bankand in hand 6.172 6,172 18 987 140 133 1 IZ1J5 IW 146.032 ' 1543n 22.ts6 176,514 ilabilities Creditors fallibv4 due within (me ar li 7 142 149 18 ZZ 136 171454 editors falli after more than one 3T ,' 28 724 473 976 14 Restricted f Unrestricted 11Ke Iwxas Tthal dmiity 26.1 26.196 28.724 28,724 The accounts were approled by the trustees on 31st March 202S and signed on their behalf by.. Sessi aerk Treasurer li
St. Michael's Parish Church Church of Scotland Year ended 31 December 2024 Accountlng Pollcies The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts. are set out below. Basls of Preparatlon The financial statements have been prepared in accordance with Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charitie5 accounts (Scotlandl Re8ulations 2006 las amended) Fund Accountln8 Funds are classified as either restricted funds or unrestricted funds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the object5 of the charity. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose. they are designated as a separate fund. This desi8nation has an administrative purpose only and does not le8ally restrict the trustees. discretion to apply the fund. Incomln8 Resources Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(sl of income have been met. it is probable that the income will be received and the amount can be measured reliably. 12
St. Michael's Parish Church Church of Scotland Year ended 31 December 2024 Donated Servlces and Fa¢llltles Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFR51021 the general volunteer time of congregation members is not recogni5ed. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willin8 to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised as expenditure in the period of receipt. Interest Recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notification of the interest pald or payable by the Bank. Fixed A55ets The charity has the right to occupy and use for its charitable objects certain tan8ible fixed a55ets, including the Church, Halls and Manse, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the Statement of Financial Activities in the period in which the liability arises. Tanglble Assets All tangible fixed assets Costing in excess of £10,000 having a value to the charity greater than one year, other than those acquired for specific purposes. are capitali5ed. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value. of tangible fixed asset5 over their estimated useful lives. Investrnents Fixed asset investments are stated at market Value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginnin8 and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised 8ains and losses represent the difference between the proceeds on disposal and the market value at the start ofihe year or cost rf purchased in the year. Taxatlon St. Michael's Parish Church is recognised as a charity for the purpose5 of applicable taxation legislation and is therefore not Subject to taxation on its charitable activities. The charty is not registered for VAT and resources expended therefore include irrecoverable input VAT. 13
Edinburgh St. Mlthael's Notes formlng part of the flnandal statements for the yew ended 31 December 2024 Unrestrlrted ,' Unrestrlrted Giild T(al 2024 Totsl 2023 2024 2023 offeris Tax reccp•pred Gift Aid Legacies tX)nations 34.512 7.173 20.5Q) 459 34,971 7.ln 20.5(X) 470 37.316 8,332 8.332 743 935 Weddiw arnl F1$. Coffee momirva5. Fund Raising. Guild . (Xrtiry5. &xial & l¥ 4.219 6.251 4,219 6.573 322 622 Rent receiltd fT(m Flre rf kkll5. t)ivideThJs T1 i[)51t irterest 153 iO.LVJ , 8,607 8.607 859 859 General Ttee$ Ccmsolidated Fabric FWKI 20.868 9,411 9.411 I.146 3.IrJ i281 I(.167 14
Edlnburgh St. Mlthael's Notes formlng pt of the finda1 statement5 for the year ended 31 Deomber 2024 Unfertrlrted Lknre#rlrted Gi#ld Gulld Ttsl 2024 :. Total 21Y23 2024 21Y24 6 Analysls of Expenthwe Ra151ry FM15 Offerin8 Envelopes 82 82 82 04ritsL4e Actlvltles Gibing to Gr(r•4 Presbyiery 05 Ministe¢s Expenses Pulpit SWJ OtIr Salary Cc6ts FaTrMic Repair5 & MaIntenae aeanin8 Materials. etc GardeniNd Costs Council Tax Heat and Light Inswan (hurch Office Expenses Organ and Piano MaIntenae Charitable Donations Other Expenses Gwld Outi Guild Expenses 45.897 931 1,453 323 20,382 41.244 4.478 45.897 931 1,453 323 :. 20,382 41,244 4.478 42.169 721 42,169 721 224 18,886 9.436 3.938 1.1 3,655 224 18,886 9,436 3.938 1,1 3.655 4,380 9,449 1.737 1,231 520 3,584 2,528 3,738 7.817 9,914 1,401 1,311 50 3.738 7,817 9.914 1,401 L311 L055 1,898 3.125 850 9.449 1.737 1.231 L()5 370 3,584 3.125 850 1.123 103 474 14 146 Support Costs have not been separately identif led as the trustees consider there is only one charitable activity. Therefore support Costs relate wholly to that activity and have not been separately identified. 15
Edinburgh St. Mithael's Notes forming part of the finanaal statements tor the year ended 31 December 2024 2024 2023 7 Stsff costs rnunber5 Salaries and wages rhe average number of employees durlng the year was as follow5.. 2024 Number 2023 Number Administration Prem ise5 maintenance Music staff No Èmployee had employee benefits In excess of £60,0(M) In 2024 or 2023. All Church of Scotland con8re8ations contrlbute to the National Stipend F und which bears the costs of all ministers, stipends and employer's contributions for national Insurance, pension and housing and loan f und. Minister5. Stipends are paid in accordance with t national Stipend scale, which is related to years of service. For the year under revlew the minimum stipend was £31,642 and the maximum stipend lin the 5th and subsequent years) £38,884 8 Tntee Remernt](m and Related Party TrnnsartlMs During the year, two Trustees received reimbursement of expenses. The Session Clerk received £120 towards p05ta8e and telephone costs. The Minister, eceived a total of £5,122 for Council Tax of £3,738 on the church manse, travel costs of £960 and £424 telephone cost5. During the year approximately £17,iXK) was donated to the con8re8ation by trustees. 16
Edinburgh St. Mlchael's Notes forming part of the finanaal statements for the year ended 31 December 2024 9 lrniestments Gr(A¥th Fund Units Market Value at 31 December 2023 Units at £5.83 Unrealised Gain/lLossl on Investments 34,454 Units Unrealised Gain/lL0551 on Investments 1,130 Units (The Guild) Market Value at 31 December 2024 £6.38135584 Units) 2024 2023 207.456 18.950 621 227,027 192,155 14,815 486 207A56 Growth Fund Unit Investments at C05t 116,022 116,022 Incr*ne Fund Unlts 8,674 U nits12022 £ 10.S61 Unrealised Gainll Lossl on Investments Market Value at 31 December 2024 £11.06 (8674 Units) 95,066 91,597 3,469 95.066 95,933 Income Fund Units at Cost 105,389 105,389 Growth Fund and Income Fund Units at 31 December 2024 322,960 302,522 The following investments are held= 14,380 G rowth Fund Units with The Church of Scotland Investors Trust for General 20,074 Growth Fund Units with the Church of Scotland Trust for Fabric 1130 Growth Fund Units with The Church of Scotland Investors Trust - The Guild 8,674 Incom e Fund Units with The Church of Scotland Investors Trust. 9L744.40 128.072.12 7,209.40 95.934.44 321960.36 17
Edinburgh St. Mlchael's Notes forming part of the flnancial statements for the year ended 31 December 2024 10 Debtors (to recelve) 2024 2023 Cluttons re Electricity used for Mast November & December 2024 Prepaym ent of Minister's Expenses Use of Premises for November & December 2024 4,901 66 932 5,899 4.897 68 1,207 6,172 11 Cre(htry5 (to pay (xrt) 2024 2023 Minister's Travel (Car Lump Sum December 20241 Energy Costs Cleanin8 MaterSals - PHS Other Expenses - 4 Churches Mission Dav Pia no Maintenance 80 2,956 80 2,888 2,020 72 130 3,166 S,060 12 Analysls of Net Assets Am(ry Fu)ds 2024 UNleslgnated Deslgnated Restricted Total Investments Current Assets Cuent Liabilities Net Ilssets at 31 December 2024 91,744 61,643 224,007 65,402 7,209 18987 322,960 146,032 ISO.221 289.409 26,196 12 Analysls of Net Assets Funds 2023 Undeslgnated Deslgnated Restrl¢ted Totsl Investments Current Assets Cufrent Liabilities Net Assets at 31 December 2023 83,835 19,991 212,099 134,387 6,588 22,136 302,522 176,514 98,766 28.724 473,976 13 Volunteet In common with all congregations of the Church of Scotland the congregation benefits f rom the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown. 18
Edinburgh St. Mithael's Notes forming part of the flnandal statements for the year ended 31 December 2024 14 M(wernents In Furtds - 2024 l Janry IornIng 01rt8OiT¥ Revaluatlon 2024 Resources Resources GanllLosses) Tran5fer$ 31 December 2024 Restrfrted Funds The Guild The Guild- Ramsay BeqSt 2.056 1.117 3.ln 14,98,; 621 530 6,352 19,844 26.196 20.599 2&n4 14,9801 621 11,3421 Unrestrtrted FuThts General Fund Designated Fatrfic Fund 142.032 303.220 445252 107.(yJ8 1 IW, 6qBI 8,048 115.146 IlJl,9271 1,342 157.698 281,932 439.630 11.9)8 19J17 Total Fw*15 for 2024 4rJ976 118319 146,9071 20A38 46526 Movements in Funds- 2023 l Jarnmry I11 Out8oiry Revaluatlon Transfer5 31 December 2023 Resources Resources Gan/lLosses) 2023 Restrfcted Funds The Guild The Guild- Ramsay Bequest 8559 23,258 31J17 2.027 859 14 0271 79 8,125 20.599 28,724 13,0271 13,4391 UNestActed FUTr General FuTrl Oesignated Fabric Fund 132.857 288.955 421 93.681 194,1281 11.61X) 19 4161 115.281 1 I03,5641 6,183 12,101 18284 3.439 142,032 303,220 445,252 3,439 T(rtal for 2023 453.629 i(W.167 106,591 473.976 Fu The Guild - Thi5 money is used to run St. Colm's @ St. Michael's Guild Ramsay Bequest - This bequest was left to the G uild for social events Fabric Fund: The Trustees have set aside funds for the maintenance of the church property. 19
Edinburgh St. Michael's Notes formin8 part of the finanaal statements for the year ended 31 Drnber 2024 15 Cdlectlrns Third Pdrtles 2024 2023 Bethany Christian Trust Christian Aid Week Christian Aid TurkeylSyTia Earthquake Christian Aid Libya Flocjding Church of Scotland HIV Programme Crossreach Medecins San Frontieres Junction 42 Prisoners Gifts Lao Haig's Poppy Factory Fresh Start 4 Square Fumiture 672 950 326 931 360 191 118 506 178 8(Kl 160 50 35 145 2.822 173 20 2,793 Danatl*Jns from St. Mlchael's Lady Haig's Poppy Factory in Lieu of Wreath Junction 42 Prisoners Gifts 50 loo 150 so Donations from St. Cdm'5 @ St. Michael's Gld Chocolate Heaven Christian Aid Deaf Aid Edinburgh Zoo Fresh start Gorgie Toy Library Junction 42 5aughton Park Seafarers Mission Scottish Air Ambulance 250 85 70 100 50 Icrf) 120 50 l(M) 100 100 I,(XJ5 370 20
Edinburgh St. Michael's Appendix FurKts held on behalf of the c(ryregatlon ty the Cjxyth of Sct*land General Ttee$ 2024 2023 Credit Balance at 31 December 2024 Monies held within the Churth of Scotland Consolidated Fabric Fund 31 December 2023 2024 Telephonic Mast 2024 Deposit Fund 2024 G rowth Fund 2024 Income Fund 2024 Revenue Interest 2024 Reclaim for inSUrae Costs Administration Costs 3.552 Ii.ILI) 1,442 2,769 346 19.4121 Note In 2012 the General Trustees secured a rent for a telephone mast to be installed in the church tower. The income received by the General Trustees is available to the con8regation for meetin8 f abric expenses on the congregation'5 buildin8. Durin8 the year the General Trustees received income for the Mast of £11.1. 5t. Michael's claimed a total of £9,411.82 for Church Insurance. NT 2024 2023 Growth and IncomeFunds Deposit Fund Credit Balance at 31 December 2024 119. 183 112.845 119,183 112,845 Monies held within the Church of Scotland Consolidated Fabric Fund - Capital 21