rchmont St Giles, Parish Church of Scotlan inbur Accounts for the year en 31 Deeember 2024 CongregatRon No. 010062 Charity No. SC009338
Marehmont St GiRe$' Parish Churek of Scotland, Ediiiburgh SC009338 Trustees, Annual Report Year ended 31 December 2024 The Trustees present their aniiual report and financial staienients of Marchniont St Giles Paiish Church of Scotland (the charity) foi the year ended 31 Dec¢mb¢r 2024. The financial statenients Iiave been prepared in accordance with tlie accouitting policies set oiit on pages I I and 12 and compIy 11th the charity's Deed of ConstittTrtion, the G¢n¢ral Assembly Regulations foi. Congregational Fiiiance, tlie Chaiities and Trustee Investment (Scotland) Act 2005, the Cliarities Accoiints (Scotland) Regulations 2006 (as arnended) and AccountÉng and Reportii by Charities.. Statement of Recoinmended Practice appliLdble to charities pi-eparing their accoiinls in accordance with FRS 102, the Financial Reporting Standard applicic ble in the UK and Republic ot Ireland. Objectives and Activities The Church ol Scotland is Trinitarian in doctrine. Refoimed in tradition aDd Presbyterian in policy. It exists to glorify God and to ivork for the advancement of Chrisl's Kingdom -. ouoIIoLlt tlie world. As a natioiial chiirch, it ackiiowledg¢s a distinctive call aiid duty lo bling the oi-dinances of religion to tlie people in every pish of Scotland tbrough a t¢lTltorial Ininistry. It co-operates with other churclies in various ecumenical bodies iii Scotlaiid ld beyond. Acbievemellts and Performllnce Worship - services on Sunday Inoniing al 1030 include a tim¢ with the youllg people aftew which they leave t.or activities or Sunday S¢hool. On Sundays when there was cornjnuiiion tolvards the end of the service. the cliildreii would ieluin til partlCRpate in thRS. Various types of Communion are held includiiig the more traditional distribution by Elders to the congregation seated in pews, a roiind table Coinmunion when the congtegation is invited to gather round the table at the front of the Church and a ComD]union in the side chapel after tlie service. Services are live-streamed ld available for subsequent playback. This is appreciated by those who are iinable to attend iii person. Streaming capabilities were augmented during the year with Dew cameras all0,1n for more flexibility. The order of service, including the words of the hymns and bible readings, is displayed on laige screens. We started to use the llew hymnbook 'God Welconies All, featuring hyiTrns tliat were new to the congregation. Diiriiig the year ,traditlOllal services were held at Eastei. (hand washing on I'hursday evening, joint service on Friday evening, Taize service on Saturday evening, Coininuiiioii SeiCe on Easter day), Lhrislian Aid on 12 May, Harvest on 13 October. Rejnembrance on 10 November (witb paiticipation by Beavers, Cubs, Scouts and E,xplorers based at our halls) and the Christmas s¢rvices= the Nativity iiivolving our cliildren 011 8 D¢cember. the longest night service on 21 December (for refl¢ction), 9 lessons and Carols on 22 December. Chrislingle on Christmas Eve at 4pm, Community carol singing at Ilpin followed at 1130pin by the Watchnight service pliis the service on Christmas day at 10am. During tlie year, joint serviLes were held with the German Speakingy Congregation, St Catherine's Argyle and Reid Meiiiorial. We went to the German Chu¥ch for joint worsliip for die Chi'istian Aid Service at the start of Cliristian Aid week on 12 May. We also visited St Catheriije's Argyle for a joint service on 25 Febn11c ry. A serxes of Miiddy Cliurch events with children froiii coiigre¥aLions of Marclirnont St Giles, and St Catherine's Argyle were well received. We visit¢d Reid Memorial for a Joint service on l7 Noveiiiber ancl members of the
Marchmont St Giles, Parisli Church of ,Scotl8nd, Edinbuj'gh SC:009338 Trustees, knnual Report Year ended 31 December 2024 congregations of Reid Memorial and St Catlierine's Argryle participated tti our service of 9 Lessons and Carols on 22 Deceinber. The sanctuary was enhanced by new lighting ld a new sound system during the year. The ligliting project, whicl) involved both interttal and exterJ]al liglitillLTr provides tl¢xibility and improved energy efficiency. While these projects were underway, worship took place ILI the large Chiirch hall. This Ieallt Ih&t the members of the congregation sat in closer proximity to eacli ottler than in tlie sanctuary, whicli many commented upon and found enjoyable. Bible sttidy continued during Lent and Advent. Prayer group- joÈnt events with St Catherine's Argyle were ut]dertaken. Services - the Church Ceiitre was busy throughout the y¢ar with many groups iising the halls. Many parties and one-off events weie also held there. The café continued to welcoine yOUnLT and old alike. The café also orgaiiised a c.hristmas Market on 30 November whicli ini'olved afternoon tea, stalls (some nin by Cliurch inenibers, some by people from the local co7]unIty) and activities tor children. Our connection with the local ¢omniunity was enlianced by the introdiiction of post box toppers on a nearby post box 2023 and this project continued t]lUsI10llt 2024. Our pastoral care group continued to visit or make frequent contact with the VLilnerable. ill and housebound. Flowers froin the Church services are frequently delivered by volunteers to those who are ill or grieving. The support of the congiegation aiid coinmunity of Marchniont St Giles, for Faresliare at Richmond Craiginillar was unstinting diiY)ughout the year with frequent deliveries from Marchmont and a phenomenal response at Harvest time followeLI by another very generous collection of toys at Christmas lime for the two primary schools in that iieighboiirhood in addition to nioiietary donations. The Mother and Toddler groiip has been re-invigorated and relaunched as 'Butt¢rfiies Baby and Toddler Ciroup, during 2024 linder new guidance and has a more fomial stnicture that incllides story lime. A holiday club was held during the summer bolidays jointly with the Family Worker froin Mayfield Salisbury. It was for one week during the moniings and involved fuii activities, games, crafts and storytelling. It was open to priinary ¢ige children aiid was well atteiided by those in the locaE Lornmullity. MenibeiB of th¢ congregation volunteered, and the Min2Ster, Adii)iiiistrator and Summer Inteni proi'ided inuch nLeded support. FelloTrvship - Oiir cafe is greatly appreciated, especially by the patrons of Buttertlies Plus, our lunch for the over 60s on a Tuesday between Septeniber and Jiine. Biittei-flies Plus also puts on a Clir&stmas liinch whRch is open to everyone. The Chiirch website. the Church magazine, The Shuttle, and a presence oil social Inedia piovided Lisetul oppominities to maint¢lÉn contacts with the ¢ongregatioii aiid wider commuiiity.
Marchmont St GRles' Parksh Church of Scotland, Ediiiburgh SC009338 Ti'ustees, Annual Report Year ended 31 December 2024 During the Edinburgh Festival, a series of afternoon concerts were held in the Cliurch as part of the Fi'inge progratrme. Theie was no charge for adniission, biit donations iveLe received. Perfortners and members of the audience were able to have lunch or a snack and a dri]th in the caté either before or after the events. B&s¢d on the popiilarity of these events, a winter series of concerts (one each in Noveinber and December 2024 and January 2025) was planned with tkle iiitention tliat it might be possible to raise funds for a new piano. We are grateful for ihe ¢oi)tiiiued support of the mlY volunteers who giv¢ of their time and talents to promote the activities and service of Marchinont St Gil¢s' to ow- coniiyjunity and beyond. Presbytery Pla Representatives from Marchmont St Giles have met with represeiit1ctives from other congregations witli a view to implementing the Presbytery Plan. Tbe pioposal within tlie 2022 Presbytery PEan was for Marchmont Si Giles. St Catlierine's Argyle and MorDingsid¢ Unitd to be served by one fiill time Minister of Word and Sacrament. The Icirk Session and congregation voted for a union with St Catherine's Argyle, but this did not proceed. At the direction of Presbytery. constructive conversations have been held with representatives from Reid Memorial. It is hoped that a union will be agreed in the secoiid quarter of 2025.
Marchmont St Giles? Parish Church of Scotland, li dinburgh SC009338 Triistees, Annllal Report Year ended 31 Deeember 2024 Financial Review Our financial aim is lo have our income either equal or exceed expenditure. During 2024, our expendithre exceeded our income. largely because of the cost of work carried out to iipgrade our lighting and sound systems. on which we spent £60,592 during the year. The result was an excess of expenditure over inconie for the year of £69,732 (2023 a surplus of £142,151). During the year we sold some of our investments, resiilting in a gain on disposal of £2,056; in addition, there was an increase in the vallle of our investments of £84.353 (2023 - an increase of £83,527). Finally. as noted in Note 9 to the accounts, we revalued the organ and the silver. resulting in a deficit on revaluation of £367,288. The total deficit therefore amounted to £350,611, Compared with a surplus of £225.678 in 2023. Our principal sources of incole in 2024 were.. offerings, Gift Aid reclaim, granis and legacies (300/0 of the total income); use of church premises and café (460/0)- investment income (200/th)' and other income (including receipts from general trustees) (40/0). Offerings in 2024 fell by £5,499 (110/0) (2023 £14,450 increas¢ (390/0)). Tax recovered on Gift Aid payments fell by £10,857 (560/0) (2023 - £8,768 increase (830/0)), biit the fall was due to a change in 2023 in the basis of accounting for this incoine. Income from use of the church premises increased by £1.252 (2Q/o) in 2024 (2023- £23,141 increase (44% )). Investment income rose from £45,570 in 2023 to £53,723 in 2024. an increase of16 % (2023 200/0). Income 90,000 80,000 70.000 60,[0 50.1 40.0( 30.000 20,000 10,000 OffEilftgs Gift Aid Refjtal Investments 4 2024 2023 We spent £97.602 on salaries for our etnployees, £24,916 more than in 2023 (£72,686, an increase of £11,136). The increase was partly tbc salary paid to our IntergeTreratiOllal Worker, who started employment in Novemb¢r 2023. We spent £995 on fabric repaiiB and maintenance in 2024 (2023 £2,284). Other building costs, including the cost of heating, lighting and
Marehmont St Giles, Parish Churth of Seotllnd, Edinburyh SC009338 Tr115tees* Annual Report Year ended 31 December 2024 insurance. tncreased by £9,884, wi increase of 24/0 (2023 - £13,078 increase). The ¢xp¢nditure on th¢ new lighting system is inoluded in Rep8iTS, Maintenance and Office Expenses. Expenditure 120000 100000 80000 60000 40CKIO 20(h)O Fabric Tepairs Other 8Jilding Costs Repairs. Mainrenance and Olfice expenses 2024 2023 Our free offering and other donations allow us to support our expenditure. We employ six people. support ihe running of a café aiia the signtficant outreach it provides and run a centre that brings hundreds of people into our presnises each week. We not only support the niaintenance of the costs of our owi minister but contribute towards those of other ininisters Rn less well-off parishes. In addition. we maintain our beautiful church and church centr¢ for future generations and make donations to other charities. As noted above the niarket value of our Church of Scotland InvestOT'S Twst Unils rose by £84,353 in 2024 (2023 - an incr¢ase in value of £83,527). The value on 31 December is for accounting PUTPOS¢S and would only be realised if we sold the investments al that date. Nvhile we have significant funds which ensure tbat OUT undeilyitLg fintinces remain sound, over 970/0 is held in property, the organ, sklver and IVestments, leaving only a small amount of readily accessible funds. We iely on the income from the Chw'ch ol-scotland Units to support our eApenditure.
Marehmont St Giles, Parish Chureh of Scotland, Edinburgh SC009338 Ti'u5ttes' AnnuAI Report Year ended 31 December 2024 In*'estment Poliey and Performance Investments are held in order to provide an income stream from dividends received. All of our investments are held in the Church of Scotland InvcstOTS Trust, deemed io be low rislc. About 40 % by value of our investment is held in the Income Fund and 600/0 in the Gi-owth Fund. IF larg¢ legacies receiveil they are invested in the Church of Scotland Investors 'fru5t until they are utilise Risk Management There is a risk associated wilh a large deficit which Caould occui as the result of lower income and/or increased costs. The Trnstees are aware that one of the prinLipal risks is an aging congregatton. One of the associated risks is a negative impact on ordinary offerings. Membe¥s of the congl'egation are encouraged to ensure that Ibey sign up to the Gift Aid scheme and everyone is asked to review their offerings allnually as well as being thanked for their contributions. It would be prudent to diversify income sources (at present offerings, donations, rental income. dividend income and café incorne) by applying for grants or fundraising to allow improvements to the church and church halls to go ahead. Expenditure is strictly controlled, and the Trustees Teceive Tegular updates on th¢ latest financial position. There is a risk of a reduction in the value of investments held. This risk depends on the financial markets. Any surplus in funds OT large legacies are invested tn the Church of Scotland Investors Tiusts that are designed to protect andlor grow capital and generate income. Succession planning is also potentially difficult given the ageing congregation and the possibility of future membership reducing. It is important to encourage and nurture new talent and to persuade individuals to donate what they can of their time and talents. Ther¢ ne¢ds to be missional work acTOSS all age gTOUPS to encourage broadening of membership and increased participation. The Trustees plan to appoint an Under 25s Worker to build upon this and other initiatives. Siicc¢ssion planning may i]J¢lud¢ unions with otlier congregations. It is possible that any adverse publicity would affect the ability of th¢ Church to deliver its stated aims, such as outreach. Tbere is a robust governance structure, at congregational, Presbyteiy and national church levels. A safeguarding officer has been appointed and there is a small safeguarding commÉttee. Training for Trustees and other persons is carried out as required and updated every three years. Use is made of centrally provided resources. There might be a risk of another patLdemÈc. All lessons and skills leamt (for example onlin¢ streaming of services) during the Covid pandemic need to be updated and reviewed on aregular basis. The w¢bsite and the online offerings (such as Bible study) should be regularly updated. Websites require constant maintenance to be appealing and use] and must contain relevant infornmtion in a readily aesSIble format. Reserve Poliey
Marehmont St Giles, Parish Church of Scotland, Edinburgh SC009338 Trustees, Annual Report Year ended 31 December 2024 The charity trnstees have considered the reserves reqiiired and have taken into account their curient and fiiture liabilities. It is the Thistees. aim for expenditure not to exceed income in any given y¢ar, but to hold reserves in case of a deficit. At the year end, Marchmont St Giles held unrestricted ndS of £2,109,628, of which £1.511,579 was held in designated funds (made up of Fabric Fund £721,710. F&mily and Children's Worker Fund £10,498; Hall Development Phase 11. Fund £158,801-. and Asset Fund £620.510). The Temaining balance of £598,049 represents about two ye5 of expenditure. The Church also held £83,829 of r¢strEcted ndS wliich have been provided foi. the purposes specified in note 15. The Trustees can also approve capital expenditure for exceptional items and to cover any shortfall between nonnal annual expenditure against these fvnds. Planning for the future We are planniiig for the future, iiicluding ways in which to engage H'ith tl)e wider coinmunity, within the context of the changes envisaged undei the Presbytery plan. Marcbmont St Giles aspires to be an inclusive church, reacliing out to the whole commiinity in faith. We look forward to all of the possibiliti¢s that th¢ future brings witb OUT neighboijrs both near and far. We will: Work closely and missionally with Reid Memorial and St Catherine's Argyle to foster good practices and relations towards a Union and team Ministry. Deliver a Ministrs, to families and children with an inteniational multi-generational approach, drawiiig upon the skills of an Under 25s Worker and closer collaboration with other Lhu¥ches. Deliver a Ministry to the elderly of the Parish through various initiatives including Butterfiies Plus and Southside Faith Share. an SCIO set up along with Mayfield Salisbury. PriestfLeld and Craigmillar Park, and several chaplaincies already long established; and Deliver a Ministry to the sttidents of Napier and Edinburgh Universities in the Partsh through the chaplaincy already e5tabli5hed at Napier and continued good practice. Structur& Governance and Msnagement The Congregation is a Tegister¢d charity, number SC009338 and is administered in accordance with the tems of the Deed of Constitution (Unitary F0[1} and is subject to the Act and RegulatÉons of the General Assembly of the Church of Scotland. Members of the Kirk S¢ssion are the charity Trnstees. The Kirk Session 1ClberS are tlie elders of Èlle church and are chosen froin those membeis of the church who ar¢ considered lo have appropriate gifts and skills. The minister. who is a mernber of the Kirk Session, is elected by the congregation and indiicted by Presbytery. The Kirk Sessioii is chaired by the minister and meets at least six times in a year. The Session bas agreed a set of Standing Orders to which it adheres to regulate its business. The Session is organised in a cotnmittee structure. The S¢ssion decides the nuinber of comnlittees (and teams within commitlees) and specifies theTrr remits and duties. The committees in 2024 were..
Marchmont St Giles, Parish Church of Scotland, Edinburgh SC009338 Trvstees? Annual Report Year ended 31 December 2024 Business, Fellowship and Pastoral Care, and Finance. The Kirk Session also oversees activities in the areas of Christian Education, Mission and Outreach, Stewardship, and Facilittes Management and Development. The Business Committee comprises only of elders. Other committees comprise elders and other members of the congregation. NormAlly the number of congregational members on any commit'tee does not exceed the number of elders. Each cominittee ine¢ts and then reports to Session at least twice a year. The committees examine subjects in their Tnit that they feel require attenlion or review. The results ot. their deliberations are ieported to Session with recominendations for action. Excq)t to thc extent that any cominittce's remit included delegated powers, ieLomtnendalions or decisions of committees should not be implemented until approved by Session. Certain T¢sponsibiliti¢s ar¢ d¢l¢gated to th¢ FAnance Committee. Reference and AdMinistratAve Information Trustees The Trustees who served during the year were.. Principal Offiee 3 Kilgraston Road Fdinburgh EH9 2DW Charity No. SC009338 c.ongregation Reference No: 10062 ?eiiciellt F,Yaminer Chartered Accountant klolli% AcLounlEng LimTted 3 Melvikle Crescent Edinburg¥h Banker Biink of Scotland plc 426 Momingside Road Edinburgih EHIO 5QF
Marchmont St Giles, Parish C'hurch of SeotlAnd, F.dinburgh SC'009338 l i'ustees, Annulll Report Year ended 31 December 2024 Trustee5Y ResponsÈbilitie5 in Relation to the Financial Statements The chaiity Trustees are r¢stK)nsible for pr¢paring a Trustees. annual report aiid financial Statements in accordance with applicable law and United Kingdom Accounting Standards (UniÉed Kingdom Generally Accepted Accountingi Practice). The law applicable to chariti in Sco)tland requires the charity Trustces to prepare financial sratements for each year which show a true and fair view of the state of affairs of the charity and of th¢ income and expenditure of the ch&TAty for that period. In preparing the financial Statements, the Trustees are required to". Select suitable acc4>unting policies and then apply thein consist¢ntly- Observc the methods and principles in Èhe applicable Charities SORP. Make judgments and estimates that are reasonable aDd Prudent. State whetber applicable accounting standards and stateiTJ¢nts of recommended practice have been followed. subject to any departures disclosed and explained in the funCIal statements: Prepare the fillancial statenients on the going conc¢rn basis unless it is inappropriate to presume thdt the charity will continue in operntional extstence. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuraLy at any time the fmanctal position of tjie chaTity and to enable them to ensui'e that the financial statements comply with the Charities and "frustee Investinent (Scotland) Act 2005 and the Charities Accounts (Scotland) Rcgulations 2006 (as amended). They are also responsible for safeguarding the assets of tbe Lbitiity hence for taking reasonable steps for the prevention and detectioll of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of tbe charity and financial inft)rmation on the con¥regation's website. l_egi.slation in the lJnited Kingd()m governing the prepatIon and dissemÈnation of financial statements may differ from legislation in other jurisdictions. Approved b! tbe Trustees and signed on their behalf. Date: io
M&rchmont St Giles? Parish Church of Scotland, Edinburgh SC009338 Trustees, Annulil Report Year ellded 31 December 2024 Indepen(lent Examiner's Report to the Trustees of MArehniont St Giles Parish Church I repoit on the a¢couiits of the charity foi. the year elided 31 Dec¢niber 2024. which are set out on pages 12 to 24. Respective responsibilities of tru$te&8 and examine The Lhdrity's trus'tees e Tesponsible for the prcparation of thc accounts in accordance with the temis of the Charities and -Irustee Investment (Scotland) Act 2005 and the Charities Accounts (Scodwid) Regulations 2006 (as &mended). The cliarity tnistees consider that the audit requirement of Regulatioi) 10(1) (a) to (c) of Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) {¢} of the Act and to slate whetheT particular matt¢rs have come to rny attention. Basi5 of independent examRner's $tat¢nhent My exaniination is carried out in accoidattce with Regulation I l of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with thos¢ records. It also include.s consideration of any unusual ilcins 01 disclosuies iii the accounts. and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evideThce that would b¢ required in an audit. and consequently I do not expit%s an audit opinion on th¢ view of the accounts. Independent examiner's statement In the course of Iny examination, no rnatter bas come to my attention l. Which gives me r¢&sonable cause to believe that in any material respect the requirenietLts- To keep accounts records in accordance with Section 44 (1)(a) of the 2005 Act and Regiilation 4 of 2006 ALcounts Regulations (as amended), and To prepare accounts which accord with the accounting recording and comply with Regiilation 8 of the 2006 Accounts Regulations (as ameThded} have not been met, or 2. To which in my opinion, attention should be drawn in order to enable & proper ullderstandin of the accounts to be reached. ClIArlered ALuountdnt Hollis Accounting Limited 3 Melville Crescent Edinburgh EH3 7HW Date sl3lLr li
MarchmoJ)t St Giles, Parish Chureh of Scotland, Edinburgh SC009338 Statement of inancial Activities Year ended 31 December 2024 Notc UreStL¢d Re8tricte UrtrICted Fun4]s RLsiri£ted Fund8 2023 Totsl 2023 2024 2024 2024 2023 lJTr¢ome #nd ¢ttdoivmelll$ frum- Donations and legacics Charithblc actiVjti¢S R¢nLil and café Invcstznellts Other 79.555 700 316 79,871 70 233,700 443 118.325 44,955 12,015 409,438 450 234,150 443 121,241 52.126 L,727 265,349 121.241 53,723 11,727 267,262 118,325 46.374 E2,015 411.307 1.597 1,419 1,913 1,869 Expendiillre on: Rttisirg funds Charithble activiiies 160 336.834 336,994 386 264.240 264,626 38() 332.758 332,918 4.076 4,076 4.530 4,530 268.770 269.156 Totol eXendItUre Net itEtoJlltJexptnilitur¢ before gal5 IIDd losse5 on inv¢stMenis
nd rrvalkEatlDEi
-67.569 -2,163 -69.732 144,812 -2.661 Net gain51I(6S¢S QD investment8 79,903 6,506 86,409 -367.288 -280.879 .350.611 78.440 5,087 83.527 Revalualitsn of fixed ass¢1s -367,288 -287,385 -354,9fj4 6,506 4,343 78,440 223,252 5.087 2,426 -357 2,069 83,527 225,678 Ntst incomelexpenditure Ttrausf¢rs b¢twll fimds N¢t mDYemtAt in funds 15 4.016 -350,938 4.016 327 357 2?3.609 -350,611 225.678 ReLOrtci]i$tion of fund¥: Total fullds brought ferward Total fwidg ca1¢d fonvaTd 2.460,566 2,109,628 83,50? 83,829 2,544,068 2.193.457 2,236,957 2,460,566 81.43_1 83,502 2.318,390 2,544,068 12
archmont St Giles, Parish Church of Scotland, Edinburgh SC009338 Balance Sheet At 31 December 2024 2024 Unwtrieted Restricted Fund$ Fund 2023 Unrestricted Restricted Fundg Fuuds Totsl Total Funds Elld$ Fixed Assets TaDgible assets JeentS Total FAxed Assets Café stock DebtOJ5 Cash at bank alld oil Illd Total C¥rreDt Assets Laabilitie8 620.510 1,444.87 2.065.381 1,286 4214 6?0.510 1.520,332 75,462 2,140,842 1,286 4,589 54,923 60.798 987.798 1,414.969 2,402.767 657 12,237 57.92S 70,819 987.798 68.956 1,483,925 68,956 2,471.723 io li 375 285 12,522 72,186 85.365 7.992 8,367 14,261 14,546 52.431 Credi1055 falling due wtthiu one ye Net Currtnt Assets 12 8,185 44,246 8,185 52.613 L3,020 57.799 13.020 72,345 8.367 14,546 Net A85ets 13 2,109,628 83,829 2,193,457 2.460.566 83,502 2.544,068 The funds of the tharity: Restricied income funds LTKrestsicied inc0e funds Total charity fkinds 15 83,829 83.829 2.109,628 83,829 2.193,457 83,502 83,502 2,460.566 83.502 2.544,068 2, IU9.628 2,109,628 2.460,566 2,460.566 d signed oJ* their behalf by.. Sessio# Clerk Tre85urei 13
Marchmont St Giles, Parish Church of Scotland, Edinburgh SC009338 Accounting Policies 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. Basis of preparation The financial statements have been prepared in accordance with the Financial Reporting Stsndards applicable in the UK and Republic of Ireland (FRS102). the Statement of Rec017llnended Practice applicable to charities preparing their accounts in accordance Nvitb FRSI 02. the Charities and Trustee Investjnent (Scotland) Act 2005 and tlie Charities Accounts (Scotland) Regulations 2006 (as amended). The charity constitutes a public benefit entity as defined by FRS102. The trustees consider that therc are no material uncertanties about the charity's ab&lity to Continue as a going ¢on¢¢nL Fund aecovnting Funds are classified as ¢ither restricted funds or unrestricted funds, defined as follows.. Restricted funds are funds subject to specific r¢quir¢menl8 as to thetr use ivhich may be declared by the donor or with their authority or created through legal processes. but still within the wider objects of the charity. UnrestriLted llds ate expendable at the dtscretion 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 nd. This designation has an adrnillistrative purpose only and does iiot legally restrict th¢ trustees, discretion to apply the fund. Income Income is recognised when the chai-ity has entitlement to the funds, any peiformance conditions allach¢d to the iteKn(s) of income have been mel, it is probable that the income will be received and the amount can be measured reliably. Donated services and facilRties Donated professional services and donated facilities are recognised as income when the charity has control over the item. ally conditions associated with tIie donated item have been met, the receipt of onoinic benefit from the us¢ by the charity of the item 15 probable and d]at economic benefit ran be measured reliably. In acLordance with the Charities SORP. time volunteered by members of the congregation is not iecognised. On rec¢ipt, donated professional Services and donated facilities are recognised on tbe basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on tbe open market. a corresponding amount is then r¢cognised as exp¢nditure iii th¢ period of receipt. Grants Grants are recognised Thithin income when there is reasonable assurance that the charity will comply with the conditions attaching to them and that th¢ grants wtll b¢ r¢c¢iv¢d. 14
Marchmont St Giles, Parish Churcb of Scotland, Edinburgh SC009338 Accounting Poli¢Res (contd) Intsrest receivable Interest on funds held on deposit is included when receivable and the amount cat) be measured reliably by the charity. this is noniially upon notification of the interest paid or payable by tbe bank. Pensions Einployees of the charity are entitled to join a defined contribution pension scheme under auto enrolnient. Payments lo the defined Contribution pension plan arc reCognis as an expense when the employees have rendered service entitling them to the contributions. Fixed assets The charity has the right to occupy and use for its cbaritable objects certain tangible fixed assets, including the Church. halls and manse. the fonner two vested in the Church of Scotland General Trnstees. Th¢ manse is owned by the congregation. No coiisideration is payable for the use ot thes¢ 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. Tangible fixed assets are defined as.. anything with a cost value of greateT than £5,000 alI silver regardless of whether an individual item is valued at less than £5,000 (our silver is listed in the All SkS section of our insurance poliLy). Tangible fixed assets. other than those acquired for specifie purposes. are capitalised. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value. of tsnble fixed &8s¢ts over tbeir estimated useful lives.. Buildings. silver, organ-. no depTeciation as they ate expected to maintain or increase in value between the start and end of each year. Furniture & kitchen equipment 10 years Office equipment 5 years Ligbiing and sound systems were installed during the year. As these were for a specific purpose and were replacement items, the expenditure has not been capitalised. Investments Fixed asset investments are stafrd at market value at the balance sheet date. Unrealised gains and losses repr¢s¢nt the difference between the market value at the beginning and end of the fmancial year or, if purchased in the year, the difference between cost a]3d market value at the end of the year. Realised gaKns and losses represellt th¢ differen¢c between the proceeds on disposal and ihc market value at the start of the year OT Cost if piirch8s¢d in ihe y¢or. Taxation Marchmont St Giles Parish Church is recognised as a charity for the purposes of applicable taxation legislation and is tlierefore not subject to taxation on its cliaritable activities. The charity is not reStered for VAT and resources expended therefore Rnclude irrecoverable input VAT. 15
M8rehmont St Gilt$' P•rish Chvrth of S¢odatsd, Edinburgh SC009338 Notes *ormin¥ part of tlie financial 5tatement$ for the year ended 31 DeceThbeT 2024 Unre$tritted Restricted FuBd$ Fiijjds 2024 2024 Total 2024 l Do•tionS aod Leg#cie5 OIFerill8S Tax rctovei¢d on Gift Aid Legacies (70 for It grant Otlifjt graftts Other iiicome 46,536 8,425 3.000 13.333 8,019 242 46.536 8.425 3,0(K> 13,333 8.019 558 316 79,555 316 2023 2023 2023 OffeTyngs Tax rewvcred on Gifi Aid Lcgacies Go for It grant Other grants Other in¢om¢ 52.035 19,282 161.982 52.035 IlJ,282 161,982 401 450 851 45 234,150 2024 2024 2024 2 Income from chAritable 4¢tiiities Weddings and fuJerats 7(Ml 700 2023 2023 2023 Weddittss and funera15 443 443 16
M*rthmoiit St Giles, PAri8h Ch¥tth of Stotland, Edinburgh SCOO9338 Notes forming part of the fits$n¢i41 stattmEDts for the yeAr e#ded 31 Detettiber 2024 Unrestricted Restritttd Fllttds Funds Total 3 Retal and rafé income 2024 2024 2024 Rettt iec¢Jv¢d for Use of Cliurch halL8 Café iiicome (see Notc 171 77,237 44.004 77.237 44.004 121241 121241 2023 2023 2023 Rcni receiv foT usc of Cburcb h&115 Café inc4)me (scc Notc 17) 75.985 42,340 75.985 42.340 118J25 118 325 4 IveStMent inconle 2024 2024 2024 Dividends re¢eii'ed Dcposir itii¢test 51,4l5 7ll 1.597 53,012 1.597 53,723 2023 2023 2023 Dividends te¢eived D¢posit interest 44,151 804 1.419 45,570 8114 44.955 1.419 46.374 S Other Ru¢ome 2024 2024 2024 Ret¢2pis from Geuernl Tntee5 1,727 11,727 11.727 11.727 2023 2023 2023 Receipts from Genernl Tntres 12,015 12.015 12.015 12,015 17
M#r¢lkMont St Giles, P9r1s Chur¢h of Scodalld. Edinb¥¥ SCOf19338 Notes fonning p&rt of th¢ fiDancial slatements ror the yeor wdtil 31 December 2D24 Ilnrestricted Restritted FIEnds 2024 Tot21 2024 2024 6 Analysis of Expendit4Tre Ratsiiig Fill5 Card charges chlIable A¢tiviti¢s Givittg to Grow Allocatio Pre5bry Duts MiDisrees Expeuses Plllpii Supply Othet SaLwy Costs (Note 71 Café Expenses (NO 171 Fabric Repaits & MainteDanc¢ Council Tax Other Butldings Costs Repairs, Maintenance Office Expctts Sound and Lighting Orll & Mu51C Ind¢p¢ndent Examiller's fec Lcgal and Professiottal ExpeitSe5 Othcr expcuxts 160 160 65.286 1,279 960 859 97.602 15,782 995 3,728 50,485 65.286 1,279 960 859 97.602 15,782 995 3,728 50,485 27,253 60.592 2,163 985 600 8.265 336 834 60,S92 2.163 985 600 332,758 4.076 Total 332.918 2023 2023 2023 Raising FEIDd5 CaTd cbargcs CbaTÈtable Activitie$ Givi1 to GEOW AIlocati¢)n PiesbNery Dues Min2slePs Exp¢nses Pulpit Supply Other salary Costs IN0* 7) Cafe sxpcoses (Note 171 Fthbric Repairs & Mtintctt8nc¢ Council Tax Other Butldittgs Costs Rq)ait5. Mainienajjce and Offi¢c EipeTr5¢S Sound & Li8bbng Organ & MUSIC lrtdepeiidciit ExomiJ)er's fte Other cxpettses 386 386 65.185 1.326 960 65,185 1,-326 643 72,686 72.68f) 15,388 2,284 3.627 40,601 22,339 35,336 23 2.284 3.627 40,601 22,339 35,336 2,366 938 5.068 ?68.770 2.366 938 2,927 264,2411 4.530 Total 264.626 269.156 The Tru$te¢5 con5idcr thctt is only one ¢haFilabl¢ aciivsty. Suppon costs relate wholly lo that activity and have Ihefffor¢ noi been 5cparalely tdentified. 18
M4rthmottt St Giles, P#ris1s ChLirth Of Scotl•nd, Edittburgh SC009338 Ntstes formillg p4rt of the financial stateDaeTht5 for tbe year ended 31 X)etembeT 2014 2024 2023 7 St4ff costs and numbers Salaties ond wagcs Social Stcui'iiy costs OtlicF pcnsioTr c051s Toral 95.426 521 1,655 97.602 71.424 1.262 72,686 The aY¢rttge nuTKtser of ¢mployee$ during the ytat was 85 fA)Ilows.' 2024 No. 2023 .0. Officc Adminiytrator Organist Chur¢h otyieer and Cl¢aA¢r Intet¥¢ncritioJal orker Café employec5 All CThurcb of Scotland conwBations contribute to the National Siipend Fllttd which bears tbe cost$ of all ministers, stipend$ ¢mploycrfs Contributions for oationJl insutarjce. peijsioii aiid h0115ing and loan fund. Ministers, stipends aTe paid in Ir ccol'dance with thc uatioiial stipetid scak, which as relatcd to Jrtits of seivice. For the year under revie. slspends ranBed b¢¢¢Th a inimujn siipend of £3 1.642 2nd a maxiinum stipciid in lh¢ fEftb and subKqu¢ni >rars' sffi'icc of £38,884. Five outof th¢ six eJnployce5 wer¢ aulo-¢nroll¢d into a d¢fmcd ¢ontribuiion pension scheme The tsthey employee was noi eligible toioiii. Th were no outstandilig tOtsttibiitioTrs at the year end (2023 - £Nil). No ¢n)ployees I either 2024 or 2023 rccesved employec bencfits in excess of £60,000_ 8 Trllstee remuneration Related Party Trntts*cti05Attioos Di28 ye41r four addition, Thc BKpeD5¢s £9CJO j 111:._j fli'c Txustees receiv} reimbursement of expense$ ittcurr¢d totsdlin8 £1,002 12023 kn J351. Itl received tbe followiLg expettses in lh¢ y¢at.' Cowjeil t•x £3,72812023- U.627) and travcl £9.760 {2023 - £9,135) is i¢corded as h7 ving ixetL donaied by Trusiees. 19
Marchmout St Gilt$' Parish Chur¢h ofstotland, Edinbui Notes forming part of the finantial 5tateets for tht ye*r ellded 31 December 2024 9 TAngiblt Fixed Assets Organ & Furniture & Silver EquIpmet Buildlngs Total Cost At l January 2024 Addillorts Adjustmeiit on rclUation Ai 31 Dec¢mb¢t 2024 510.710 477,088 24,343 ,012.141 -367.?88 109.800 -367,288 644,853 510,710 24.343 Accumul8ted Depreciotion Ai l Jattu2ry2024 Charge for &t At 31 DeceEllber 2024 24,343 24.343 24,343 24.343 Net Bookvalve At 31 December 2024 Ai 31 DeceJnb¢r 2023 510.710 510,710 109.800 477.088 620.510 987.798 During the ycar, a valuation of the silvcr was obt21ncd. In additiou. it was considcr¢d tiJat the organ has no realisable value. These valiiatitsns have been inrPorateI in the accounts. C05t Al I1ttary2O23 AdditiOllS At 31 Deeemb¢r 2023 510,710 477,088 24J43 1.01? 141 510.710 477.088 24,343 1.012 141 Attllmulkttd Depre¢iatio At l JaDiiary 2023 Chakge for y¢ar At 31 D¢¢ember 2023 24,343 24,343 24.343 24,343 Ntt Book Valut At 31 De£embw 2023 Ai 31 De¢¢Tnber 2022 510.710 510710 477,088 477 Q88 987,79 987,798 20
Marchmonl St Gile5' ParÈsb Church of Scotland, Edinbiirgh SC009338 Note$ formRng part of the fIftnClal statem¢tsts for the year ended 31 December 2024 10 Inv¢5tment5 2024 2023 Markei value at l January Purcliased in year Cost of ittv¢stsnelltS 801d u[ISed gain l(loss) on inve8tmellts Markci value at 3 L Deceth¢r 2024 1.483,925 1.3011.399 99.999 -47,446 84.353 l.-f21),J32 83.527 1,483 925 Irtvcsitts¢nts at cost 983 259 983,259 Proceeds of Sale C05t of ullits sold Realised gain on sale Unrealiscd gain on tevaluatiott of investDieiilS N¢1 gaiti on invcstmcnts 50,(K>2 47.946 83,527 83527 86,409 The followios ittvcstments ar¢ held.. 143,41812023 - 1.51,6421 units lli Cof5 Investors Trust Growtb FU 405,465 54,73112023 . 54.7311 CotB Investers Trust Incon Fund 540,469 945.934 442.790 540,469 983,259 JI D¢btor5 2024 2023 D¢btor5 prepayments 4.589 12.529 21
Marchmont St Ciles, Parish, Church Df Sco*l¥nd, Edinburgh SC009338 Notes formittg PArt of the finAntiol st3tem¢rtt$ for the year ended 31 December 2024 12 Creditor5 2024 2023 Creditors. acctuals and ptOVÉ810DS 8,185 13.020 13 ADalysis of Net Assets Among Funds Unrestrictedl De$igll#ted Restri¢¢ed Total 2024 620.510 1,444,871 52,431 -8,184 2 109 628 2024 2024 Fixed Assets Investment5 Current Asset$ Current Ligbilities F4et as5et5 Ilt 31 Dec 2024 620.51(1 1520.335 60,798 -8.184 2,193,457 75.464 8.367 83.8?9 Ilnrestrictedl De5iVtated Re5trieted 2023 987,798 1,4 14.968 70.820 -13,020 2.460,566 2023 2023 987.798 1,483,925 85,365 -13,020 ?,544.06.8 Fixed As$¢ts InveslEnents Ciirrent Assets Ciirrent l¥iabilffttfres let 8$set$ #t 31 Dee 2023 68.957 14.545 14 Volunteers In comiuoJ all congregatlODS of the Church oEScotlartd, thc CottatiOrt t¢ll¢fits frorn the conttibution u?ad¢ by volunle¢r5 who uive tbeii tith¢ and talents wiUID8ly for the bcnefit of the chLtrch. The areas of collgrcgaiienal life wliicb r¢ly oll the conttibiition of voluiitecr5 are Tnaijy aEJd varied and niuch of ilic aciivity would be tsnable io contittue w¢re Trt otst for the commillntni shown. 22
Marchmot St Giles, Parish, Chiir¢h of scotlan Edinbyrgh SC009338 Note$ fvrmiiig pai't of the fRuancial statements for th¢ yeY4r ejded 31 December 2024 15 MovElnellts in Fund5 At l Jaary 2024 G4itisnosse$ IVriÉe-offl Expellditsre & Transfen Revaluation At 31 Dec 2024 icome Restricted luiids Choir & Orgatt Fund Flow¢rFund Youth Orb?allisatioos Fwid B•ievol¢nt Fwid Chutch orgallisatio8 Capiral Proje¢f$ 146 445 190 1,133 -2,163 -858 2,017 524 6.177 9.144 57.741 5.439 5.000 6,288 IQ.108 62.432 -1.056 4,614 -5439 5,000 83,829 1.913 2,490 UTrrtstriettd fTrEnds Gtn¢r&l Fuod bri¢ Fund Reserve Fund Fatillly & Childrcts's Worker Fut Hall D¢vclopilleiil Fund Phase 11 A55et Fund 388,398 663.690 271,831 LO,498 138.353 987 798 2.460.566 225.1(12 33,717 3,917 -332.918 41.069 24.303 653 321,651 721.710 276,401 10.498 158.861 620,509 2,IU9.628 2,613 17,895 -367 88 -367,288 265,349 .332.918 Total fulld5 2 544.069 267,262 -336,995 86.410 -367,?88 2.193,457 At I JAnuAry 2023 GaiD511os5e5 Write-offl E¥pendiÉui'e & Tralisfers RevaliiAtio At 31 Dec 2023 Encom Restritttd fund$ Choir & Organ Fund Flower Fund Youih OrgaDisations Frtd B¢nei"olent Fund Church Organi52tions CapÉral Proje¢ts 30 564 169 -2.366 .1,062 -47 -1,055 2,236 6.266 8,417 54,183 7.568 5,000 81,433 6,177 9,144 57,741 5,439 5,000 83,507 6QS 3,607 -2.129 1.869 4.530 4.728 UDrtstricted funds Genw?l Fund Fabric Fund Re5etwc Fulld Family & Children's WoTker Futtd Hall Developttmt Fund Phase IJ Asset Fwid 25),909 600.806 265.956 10,498 17,991 987.798 2,23().957 373,360 28.371 3.264 -264,625 25.754 -14,513 2,611 388,398 663,690 271,831 10.498 1311,353 987 798 2.460 566 4,443 15,919 409 43 Total funds 2318 390 411307 .269 156 83.526 2.544 067 of Re Choir & Organ Fund.. TIIIS is io P2y for organ aiid choir music, an organi51. singeT5' buT5aTi¢S rcpairs and nIntenanCe of the orgao. This is a fund to proi'2de flowers for display serw¢¢s ()f worship. This fiind provides suppon for matertal 2lld a¢tiviti¢s Eor the Church's youtii org&Jnisations. This fwid Is Èi thc millIst¢r'5 disposal for bencvolent PUTPOSCS e. C11ri5tm3s gifts for needy fanulies ill the local area. FloH'er Fund.. Youth OrglIsatiOns Fund-. cnevolent Fund-. 23
Marcbmont St Giles, Parish, Chyrch of Scotland, EdTrnbtirgh SC009338 Noles ftsrming part ofthe fina¢11 Statements for the year ended 31 December 2023 15 Mov¢mettt$ ith Fuud5 {coiitiBued) Church Organi$ations'. These ar¢ tke fll)artces of th¢ vaiiou5 Cliurch organisalions e.g. The Guild. The Gu21d fuiids W¢E¢ transf¢ed to the ChiClI during 2023. A le¥acy wus reCeid in 20L4 specifyitsg thts use on ¢apilal projects ODIY. Cjpital Projects.. nfD Fabric Fund.. Fa]nily WL Children's Worker Fund.. Developin¢Dt Fund.. Asset bu].. naled FuJds Tlie TTU5tecs have set aside fullds for mailltettanee of Church properry. The TLliSte¢s Imve sei astde fiinds for employing a Youib Worker. This i8 to SSl$t with ihe c05t of buildingPhas¢ II of (he Chvicli Cen. Thi5 ig to holLf the valiie of th¢ tt4niJible fixcd assets. nr Fund G¢neral Fund R¢serYe Fund.. The Trustc£s Kive set asid¢ funds for reserves. 16 Collections for Third Partie$ 2024 2023 Smile Tillin Let your Little Light Shine 688 1,215 1,215 688 17 Cwfé tradiDg 4CCOllYIt 2024 2023 Income 44.004 PurLh3ses Cleaoing, repair5 etc CHrd chargcs Orh¢r expenses 14,094 13,625 444 451 28,?22 32.646 26,929 27,022 Salaries 4.424 -93 Th¢ abov¢ 15 an extract of tn¢o]w uod exp¢uditUTe Telaling lo the tafé operation ihathas been included in the relevantpla¢es in the accoimts of the Churcli. 24
Marehmont St Clle$' P&rish Cburch of Scotland, Edinbllrgh SC009338 APPENDIX FUNJ)S HELD ON BEHALF OF THE CONGREGATION BYTEIK CHL'RCH OF SCOTLAND fRUSTEES 2024 2023 Revenue Atcount Bal]¢£ at 31 Dec*)ther 2023 -273 14 Mast Rental l year Interest 12.000 438 12,165 11,727 438 -99 -2,343 -2,442 16 12.015 Less.. PaYt made Less.. loterest eharg¢ Adnll"n fees 273 273 B21artce at 31 December -2.lJ)4 -273