2024-12-31-accounts - Buccleuch & Greyfriars Free Church of Scotland

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Scottish Charity No. SC009634

Buccleuch and Greyfriars Free Church of Scotland Trustees’ Report and Financial Statements For the year ended 31 December 2024

Buccleuch and Gre friars Free Church of Scotland y Contents of the Financial Statements for the year ended 31 December 2024

	Page
Report of the Trustees	1 - 4
Report of the Independent Examiner	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 - 17

��

Buccleuch and Gre friars Free Church of Scotland y

Report of the Trustees for the year ended 31 December 2024

The Trustees (Deacons’ Court) are pleased to present their report together with the financial statements of the congregation for the year to 31 December 2024.

Registered office

==> picture [142 x 44] intentionally omitted <==

Bankers Solicitors The Royal Bank of Scotland plc Balfour & Manson 30 Nicolson Street 54-66 Frederick Street Edinburgh Edinburgh EH8 9DL EH2 1LS

Trustees (Deacons’ Court)

==> picture [379 x 113] intentionally omitted <==

Office holders Minister Treasurer Clerk

==> picture [171 x 43] intentionally omitted <==

Status of Charity and Governing Document

Buccleuch and Greyfriars is a registered Scottish charity (Number SC009634) and is a congregation of the Free Church of Scotland, a Presbyterian Church adhering in its worship and doctrine to the position of the Church of Scotland at the Reformation. The Free Church of Scotland has an explanatory document which explains the origins of the Church and which gives the historical background to the Church coming into being in 1843 and lists documents in which is embodied the constitution of the Church.

The congregation is authorised by the Church to have a minister paid from the central funds of the Church.

The church building and the minister’s manse are the property of the congregation and are held under the Church’s Model Trust Deed.

The government of the Free Church of Scotland is Presbyterian and the congregation is within the Presbytery of Edinburgh and Perth.

The Kirk Session is responsible for the spiritual oversight of the congregation.

The administration of the finances and property of the congregation is the responsibility of the Deacons’ Court, which is elected by the members of the congregation, under the supervision of the Kirk Session.

The Free Church of Scotland is listed in the Charities (Designated Religious Bodies) (Scotland) Order 1997 and is therefore designated for the purpose of section 65 of the Charities and Trustee Investment (Scotland) Act 2005.

Page 1

��

Buccleuch and Gre friars Free Church of Scotland y

Report of the Trustees for the year ended 31 December 2024

Objectives and aims

The principal objectives of the Free Church of Scotland and this congregation are the public worship of God, the spreading of the Gospel of Jesus Christ, the exercise of pastoral care and the provision of practical compassion for those in need.

Recruitment/appointment of Trustees

The Trustees of the congregation are: the minister, elders and deacons who make up the Deacons’ Court.

The Kirk Session, comprised of the elders and minister, decides when an election of deacons or elders is required and how many ought to be appointed. All male members of the congregation over the age of 21 are eligible for election. All members of the congregation are eligible to vote in the election. Following the election, the Kirk Session appoints the requisite number of elders and deacons and these are ordained and inducted by the minister.

The minister is appointed in a different way. Ministers are elected by the congregation, but they are ordained and inducted by the Presbytery of Edinburgh and Perth (a representative body of ministers and elders from all the Free Churches in that area).

Elders and deacons must be familiar with the doctrines and practice of the Free Church of Scotland and subscribe to the Formula (a summary of the doctrine of the Church).

Induction and training

New members of the Deacons’ Court are given access to minutes, financial statements and other papers of the Court to familiarise themselves with the work of the Court and they meet with the other members. They are also given information regarding their role and responsibilities.

Existing members of the Deacons’ Court are familiar with the work of the congregation and have been briefed on their duties and responsibilities under the Charities and Trustee Investment (Scotland) Act 2005.

If any areas are identified where additional training is required, this is discussed at a meeting of the Court and a suitable solution identified and implemented.

Principal activities

Apart from the conduct of public worship, which is the responsibility of the minister, the principal activities of the congregation are given in the following list.

Pastoral

Ongoing support and pastoral counselling.

Youth

Junior church and youth activities including with student and young workers and Bible studies.

Prayer and Bible study

Meetings for prayer and Community Discipleship Groups alternate each week between central gatherings in the Church and meetings in homes.

Outreach

Connect is an English conversation ministry serving Internationals in our community, offering a place to find friendship and read the Bible.

Missions

We are a ‘Mother Church’ to a church plant in Galashiels, offering practical and pastoral support. We also support a missionary family working in Colombia and a church plant in Leith, Edinburgh; and Bethany Christian Trust who support the homeless in Edinburgh and Scotland.

Page 2

��

Buccleuch and Gre friars Free Church of Scotland y

Report of the Trustees for the year ended 31 December 2024

Achievements and performance

Our building has been refurbished and has become an excellent resource for ongoing mission and discipleship.
The yearly membership statistics are: 0 people joined by profession of faith or by transferring membership, and 5 people left our congregation by transfer.
All the various programmes of the congregation have continued, generally with increase in numbers.

Plans for the future

To continue the current activities of the congregation.
To develop further outreach with students and young workers, particularly those from outwith Scotland.
To assist the newly established congregation in Galashiels.
To appoint a ministry apprentice as part of training to be a minister.

Financial review

The Financial Statements for the year are set out on pages 6 to 16. The Statement of Financial Activities on page 6 reflects an increase in funds of £36,780 (2023: decrease of £113,814), represented by a general fund decrease of £1,248 (2023: decrease of £1,317), a designated fund increase of £5,833 (2023: decrease of £67,280) and a restricted fund increase of £32,195 (2023: decrease of £45,217). This when added to the funds brought forward of £931,497 (2023: £1,045,311) gives general funds carried forward of £796 (2023: £2,044), designated funds of £890,870 (2023: £885,037) and restricted funds of £76,611 (2023: £44,416). The total funds carried forward are £968,277.

Reserves

The congregation aim to hold unrestricted reserves at a level of £50,000 to allow the flexibility in planning future needs. As it stands the level of unrestricted general reserves not including the net book value of assets for 2024 was £796 (2023: £2,044). The congregation understand the year ahead will be a challenging one and will look at how to increase the level of reserves while achieving the principal activities of the church.

Page 3

��

Buccleuch and Gre friars Free Church of Scotland y

Report of the Trustees for the year ended 31 December 2024

Trustees’ responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the charity 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 accounting policies and then apply them consistently;
observe the method and principles in the applicable Charities SORP 2015 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed, subject 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 responsible for keeping proper accounting 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 (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps 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 website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Deacons’ Court on 30[th] September 2025 and signed on their behalf by:

==> picture [114 x 66] intentionally omitted <==

Minister/Trustee

Page 4

Buccleuch and Gre friars Free Church of Scotland y

Report of the Independent Examiner to the Trustees for the year ended 31 December 2024

I report on the accounts of the congregation for the year ended 31 December 2024 which are set out on pages 6 to 17.

Respective responsibilities of Trustees and examiner

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

Basis of independent examiner’s statement

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

Independent Examiner’s 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 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended) and

to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Managing Director

Innes & Partners Limited Chartered Certified Accountants

Innes House 18 Shairps Business Park Houstoun Road Livingston EH54 5FD

Date: 30[th] September 2025

Page 5

��

Buccleuch and Greyfriars Free Church of Scotland

Statement of Financial Activities for the year ended 31 December 2024

General Funds £ 100,462 - -	Designated Funds £ 69,200 6,695 -	Restricted Funds £ 90,451 - 81	Total Funds 2024 £ 260,113 6,695 81	General Funds £ 92,322 3,945 165	Designated Funds £ 10,000 - -	Restricted Funds £ 154,884 - -	Total Funds 2023 £ 257,206 3,945 165
100,462	75,895	90,532	266,889	96,432	10,000	154,884	261,316
113,142	47,402	69,565	230,109	107,749	20,000	247,381	375,130
113,142	47,402	69,565	230,109	107,749	20,000	247,381	375,130
(12,680) 11,432	28,493 (22,660)	20,967 11,228	36,780 -	(11,317) 10,000	(10,000) (57,280)	(92,497) 47,280	(113,814) -
(1,248)	5,833	32,195	36,780	(1,317)	(67,280)	(45,217)	(113,814)
(1,248) 2,044	5,833 885,037	32,195 44,416	36,780 931,497	(1,317) 3,361	(67,280) 952,317	(45,217) 89,633	(113,814) 1,045,311
796	890,870	76,611	968,277	2,044	885,037	44,416	931,497
- 796	- 890,870	76,611 -	76,611 891,666	- 2,044	- 885,037	44,416 -	44,416 887,081
796	890,870	76,611	968,277	2,044	885,037	44,416	931,497

The notes on pages 8 to 17 form part of these accounts.

Page 6

��

Buccleuch and Greyfriars Free Church of Scotland

Balance Sheet as at 31 December 2024

					Total	Total
	Note	General	Designated	Restricted	Funds	Funds
		Funds	Funds	Funds	2024	2023
		£	£	£	£	£
Fixed Assets
Tangible assets	8	-	900,000	-	900,000	920,000
Total Fixed Assets		-	900,000	-	900,000	920,000
Current Assets
Debtors	9	9,477	-	-	9,477	18,324
Cash at Bank and in Hand		29,597	659	97,424	127,680	55,474
Total Current Assets		39,074	659	97,424	137,157	73,798
Liabilities
Creditors falling due within one year	10	38,278	4,200	3,625	46,103	11,225
Net Current Assets/(Liabilities)		796	(3,541)	93,799	91,054	62,573
Total Assets less Current Liabilities		796	896,459	93,799	991,054	982,573
Creditors falling due after more than one year	10	-	5,589	17,188	22,777	51,076
Net Assets	11	796	890,870	76,611	968,277	931,497
The Funds of the Charity
Restricted Income Funds		-	-	76,611	76,611	44,416
Unrestricted Funds		796	890,870	-	891,666	887,081
Total Charity Funds	12	796	890,870	76,611	968,277	931,497

The notes on pages 8 to 17 form part of these accounts.

The accounts were approved by the trustees on 30th September 2025 and signed on their behalf by:

==> picture [132 x 59] intentionally omitted <==

Minister/Trustee

Page 7

��

Buccleuch and Gre friars Free Church of Scotland y

Notes to the Financial Statements for the year ended 31 December 2024

1. Accounting policies

The principal accounting policies, which have been applied consistently in the current and previous year in dealing with items which are considered material to the accounts, are set out below:

Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)and UK Generally Accepted Accounting Practice.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The accounts are prepared on a going concern basis as the Trustees consider that there are no material uncertainties about the Church’s ability to continue as a going concern. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 as published on 2 February 2016 and does not prepare a Statement of Cash Flows.

The Charity meets the definition of a public benefit entity under FRS 102.

Basis of financial statements

The financial statements have been prepared on an accruals basis.

Fund accounting

Funds are classified as either restricted funds or unrestricted funds, defined as follows.

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 designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund.

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 objects of the charity.

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Page 8

��

Buccleuch and Gre friars Free Church of Scotland y

Notes to the Financial Statements for the year ended 31 December 2024

Income recognition (cont’d)

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Interest receivable

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 paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Charitable Activities

The expenditure on charitable activities includes grants made, governance costs and support costs as shown in the notes.

Donated services and facilities

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 (FRS102) the general volunteer time of congregation members is not recognised.

Fixed assets

All tangible fixed assets costing in excess of £1,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:

Property 50 years

Taxation

Buccleuch and Greyfriars Free Church of Scotland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.

Financial instruments

Financial instruments are recognised in the balance sheet when it becomes party to the contractual provisions of the instrument.

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

Cash at bank and in hand includes short term highly liquid bank accounts with a short maturity of three months or less.

Page 9

��

Buccleuch and Gre friars Free Church of Scotland y

Notes to the Financial Statements for the year ended 31 December 2024

Financial instruments (cont’d)

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

Pensions

The charity operates a defined contribution scheme. The amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year.

2. Transactions with Trustees and related parties

During the year, the Church Music Worker, who is also a Trustee, received a salary of £3,569 (2023: £3,251) in relation to his role as the Church Music Worker.

During the year, the Church Administrator who is also Clerk to the Deacons’ Court, received a salary of £7,139 (2023: £6,502) in relation to her role as the Church Administrator.

During the year, the church cleaner, who is also a Trustee, received a salary of £2,379 (2023: £2,167) in relation to his role as the

Certain other trustees made payments for goods for the congregation for which they were reimbursed.

Trustee) received the ministry supplement of £4,719 (2023: £4,290).

During the year a total of £37,040 (2023: £31,310) was donated by Trustees to the unrestricted general funds of the Church.

Page 10

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

3. Donations and Legacies Monthly standing orders Legacy income Weekly collections Gift Aid Tax Reclaimed Fabric fund receipts Loan repayment fund Mission and special collections Church worker fund Junior Church Refurbishment fund Gala Church Plant income	General Funds £ 77,842 - 6,444 16,176 - - - - - - -	Designated Funds £ - 27,347 - - 4,957 10,431 - 11,329 183 14,953 -	Restricted Funds £ - - - 3,472 - - 12,105 - - - 74,874	Total Funds 2024 £ 77,842 27,347 6,444 19,648 4,957 10,431 12,105 11,329 183 14,953 74,874	General Funds £ 73,192 - 2,938 16,192 - - - - - - -	Designated Funds £ - 10,000 - - - - - - - - -	Restricted Funds £ - - 992 6,996 - 5,280 5,255 15,532 115 62,595 58,119	Total Funds 2023 £ 73,192 10,000 3,930 23,188 - 5,280 5,255 15,532 115 62,595 58,119
	100,462	69,200	90,451	260,113	92,322	10,000	154,884	257,206

General Funds £ -	Designated Funds £ 6,695	Restricted Funds £ -	Total Funds 2024 £ 6,695	General Funds £ 3,945	Designated Funds £ -	Restricted Funds £ -	Total Funds 2023 £ 3,945
-	6,695	-	6,695	3,945	-	-	3,945
General Funds £ -	Designated Funds £ -	Restricted Funds £ 81	Total Funds 2024 £ 81	General Funds £ 165	Designated Funds £ -	Restricted Funds £ -	Total Funds 2023 £ 165

Page 11

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

6. Analysis of Expenditure Charitable Expenditure Gross salaries - (Note 7) Minister's expenses Worship and supply costs Music licence Outreach and mission costs Training Grant and donations - (Note 14) Monthly magazines Youth Expenditure Communications Catering Church heat and light Repairs and replacements Maintenance inspections Church Maintenance Refurb Payments Insurance Manse Council tax Manse maintenance Cleaning materials and supplies Office equipment and software Bank charges Payroll and gift aid admin fees Sundry Presbytery dues and expenses Loan interest Independent examination Professional fees Payments to central funds Congregation Church Weekend Away Gala Church Plant expenditure Depreciation Total	General Funds £ 4,719 7,706 829 - 426 296 200 26 - 1,716 1,100 12,601 - 4,985 - - 4,285 4,308 - 605 - 281 335 (500) 426 - 2,178 870 65,102 145 - - -	Designated Funds £ 13,087 - - - - - 234 - 222 - - - - 8,046 - 4,560 - - - - - - - - - 1,253 - - - - - - 20,000	Restricted Funds £ 8,194 6,180 4,803 - - - 7,745 - - 84 870 - - - - - 178 2,438 3,194 - - - - - - - - - 35,879 - - - -	Total Funds 2024 £ 26,000 13,886 5,632 - 426 296 8,179 26 222 1,800 1,970 12,601 - 13,031 - 4,560 4,463 6,746 3,194 605 - 281 335 (500) 426 1,253 2,178 870 100,981 145 - - 20,000	General Funds £ 4,290 7,383 1,803 375 473 297 946 70 645 897 1,098 11,213 78 3,001 (19) - 4,221 3,288 - 358 1,758 253 610 1,130 639 - 1,980 - 60,617 345 - - -	Designated Funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20,000	Restricted Funds £ 21,378 - - - - - 2,466 - - - - - 1,438 - - 177,656 - - - - - - - - - 1,810 - - - - (100) 42,733 -	Total Funds 2023 £ 25,668 7,383 1,803 375 473 297 3,412 70 645 897 1,098 11,213 1,516 3,001 (19) 177,656 4,221 3,288 - 358 1,758 253 610 1,130 639 1,810 1,980 - 60,617 345 (100) 42,733 20,000
	113,142	47,402	69,565	230,109	107,749	20,000	247,381	375,130

Support costs have not been separately identified as the trustees consider that there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified.

Page 12

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

otes to the Financial Statementsfor the year ended 31 December 2024
7. Analysis of Staff Costs Salaries and wages - Buccleuch Salaries and wages - Gala church plant Social security costs - Buccleuch Social security costs - Gala church plant Pastoral / Ministry Administration and support 8. Tangible Fixed Assets Cost / Valuation As at 1 January 2024 As at 31 December 2024 Depreciation As at 1 January 2024 Charge for the year As at 31 December 2024 Net Book Value As at 31 December 2023 As at 31 December 2024 Tangible Fixed Assets Cost / Valuation As at 1 January 2023 As at 31 December 2023 Depreciation As at 1 January 2023 Charge for the year As at 31 December 2023 Net Book Value As at 31 December 2022 As at 31 December 2023 No employee had employee benefits in excess of £60,000 (2023: nil).	Total 2024 £ 17,806 7,200	Total 2023 £ 17,474 7,200
	25,006 - 994	24,674 - 994
	994	994
	26,000	25,668
	Total 2024 Number 2 4	Total 2023 Number 2 4
	6	6
	£ 1,000,000 Manse	£ 1,000,000 Total
	1,000,000	1,000,000
	80,000 20,000	80,000 20,000
	100,000	100,000
	920,000	920,000
	900,000	900,000
	£ 1,000,000 Manse	£ 1,000,000 Total
	1,000,000	1,000,000
	60,000 20,000	60,000 20,000
	80,000	80,000
	940,000	940,000
	920,000	920,000

Page 13

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

General Funds £ 9,477	Designated Funds £ -	Restricted Funds £ -	Total Funds 2024 £ 9,477	General Funds £ 12,071	Designated Funds £ -	Restricted Funds £ 6,253	Total Funds 2023 £ 18,324
9,477	-	-	9,477	12,071	-	6,253	18,324
		Restricted Funds £ 500 3,125	Total Funds 2024 £ 38,778 7,325	General Funds £ 3,510 -	Designated Funds £ - 4,200	Restricted Funds £ 390 3,125	Total Funds 2023 £ 3,900 7,325
38,278	4,200	3,625	46,103	3,510	4,200	3,515	11,225
General Funds £ -	Designated Funds £ 5,589	Restricted Funds £ 17,188	Total Funds 2024 £ 22,777	General Funds £ -	Designated Funds £ 30,763	Restricted Funds £ 20,313	Total Funds 2023 £ 51,076
-	5,589	17,188	22,777	-	30,763	20,313	51,076
	Designated Funds £ 900,000 659 (4,200) (5,589)	Restricted Funds £ - 97,424 (3,625) (17,188)	Total Funds 2024 £ 900,000 137,157 (46,103) (22,777)	General Funds £ - (66,585) (7,529) (16,339)	Designated Funds £ 920,000 50,750 (3,696) (34,737)	Restricted Funds £ - 89,633 - -	Total Funds 2023 £ 920,000 73,798 (11,225) (51,076)
796	890,870	76,611	968,277	(90,453)	932,317	89,633	931,497

Page 14

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

Movement in Funds	Balance at	Incoming	Outgoing		Balance at
	01.01.2024	Resources	Resources	Transfers	31.12.2024
	£	£	£	£	£
Restricted Funds
Mission and special collections	3,140	12,105	(7,745)	(2,851)	4,649
Church worker	5,417	-	-	(5,417)	-
Fabric loan repayments	996	-	-	(996)	-
Junior Church	145	-	-	(145)	-
Refurbishment	(37,185)	-	-	37,185	-
Fabric	19,484	-	-	(19,484)	-
Gala Church plant	52,419	78,427	(61,820)	2,936	71,962
	44,416	90,532	(69,565)	11,228	76,611
Unrestricted Funds
General	2,044	100,462	(113,142)	11,432	796
Designated
Fixed Assets	885,037	-	(20,000)	25,174	890,211
Fabric	-	11,652	(8,046)	(3,606)	-
Church worker	-	11,329	(13,087)	2,417	659
Fabric loan repayments	-	10,431	(1,253)	(9,178)	-
Junior Church	-	183	(456)	273	-
Refurbishment	-	42,300	(4,560)	(37,740)	-
	887,081	176,357	(160,544)	(11,228)	891,666

Total Funds	931,497	266,889	(230,109)	-	968,277
	Balance at	Incoming	Outgoing		Balance at
	01.01.2023	Resources	Resources	Transfers	31.12.2023
	£	£	£	£	£
Restricted Funds
Mission and special collections	2,251	5,255	(2,366)	(2,000)	3,140
Church worker	3,070	15,532	(13,185)	-	5,417
Fabric loan repayments	-	6,276	(1,810)	(3,470)	996
Junior Church	30	115	-	-	145
Refurbishment	41,056	62,595	(177,656)	36,820	(37,185)
Fabric	-	6,992	(1,438)	13,930	19,484
Gala Church plant	43,226	58,119	(50,926)	2,000	52,419
	89,633	154,884	(247,381)	47,280	44,416
Unrestricted Funds
General	3,361	96,432	(107,749)	10,000	2,044
Designated
Fixed Assets	901,567	-	(20,000)	3,470	885,037
Fabric	13,930	-	-	(13,930)	-
Legacy	36,820	10,000	-	(46,820)	-
	955,678	106,432	(127,749)	(47,280)	887,081

Total Funds	1,045,311	261,316	(375,130)	-	931,497

Page 15

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

12. Movement in Funds (cont'd) Fund Purposes:

Restricted Funds:

The Mission and special collections fund represents income that is collected to be donated directly to other organisations and is distributed to those organisations.

The Church workers fund represents income that is collected to help cover the cost of employees of the congregation.

The Loan repayment fund represents income that is collected to repay the loan for the manse and church building restoration.

The Junior Church fund represents money that is raised by the Junior Church and used to make donations to other organisations.

The Refurbishment fund represents the income received for the refurbishment of the main worship area which includes the removal of the pews, replacing them with movable chairs and the installation of an air source heat pump to provide improved and more economical heating of the main worship area.

The Gala Church Plant fund represents the income received for the purpose of acting as a "mother church" for a church plant in Galashiels as stated in the Trustees' Report.

The Fabric fund represents the income received for the purpose of major repairs.

Unrestricted Funds:

The General fund represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is designated or restricted.

The Fixed assets fund represents the net book value of the church's fixed assets less loans.

The Fabric fund represents funds set aside by the trustees to provide for major repairs.

The Legacy fund represents funds ringfenced to be used towards the refurbishment of the internal worship area.

The Contingency fund represents an anonymous loan given to the congregation.

13. Fund Transfers Unrestricted Funds £ 1 - From Mission and special collections to Gala Church Plant (85) 1 - From Mission and special collections to Gala Church Plant - 2 - From Gala Church Plant to Mission and special collections - 2 - From Gala Church Plant to Mission and special collections - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 4 - From From General to Designated Assets (25,174) 5 - From Designated Fabric fund to General 23,090 6 - From Designated Church Worker fund to General 3,000 7 - From Fabric Loan repayments to General 10,174 8 - From General to Junior Church Fund (128) 8 - From Refurbishment to General 555 11,432	13. Fund Transfers Unrestricted Funds £ 1 - From Mission and special collections to Gala Church Plant (85) 1 - From Mission and special collections to Gala Church Plant - 2 - From Gala Church Plant to Mission and special collections - 2 - From Gala Church Plant to Mission and special collections - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 3 - From Restricted Funds to Designated Funds - 4 - From From General to Designated Assets (25,174) 5 - From Designated Fabric fund to General 23,090 6 - From Designated Church Worker fund to General 3,000 7 - From Fabric Loan repayments to General 10,174 8 - From General to Junior Church Fund (128) 8 - From Refurbishment to General 555 11,432	Designated Funds £ - - - - 5,417 996 145 (37,185) 19,484 25,174 (23,090) (3,000) (10,174) 128 (555)	Restricted Funds £ (3,000) 3,085 149 (149) (5,417) (996) (145) 37,185 (19,484) - - - - - -	Total Funds £ (3,085) 3,085 149 (149) - - - - - - - - - - -
	11,432	(22,660)	11,228	-

Transfer Reference 1 - this relates to a donation/transfer of £3,000 from the Mission fund and £85 from General fund both to Gala Church Plant fund.

Transfer Reference 2 - this relates to the correction of the prior year gift aid debtor.

Transfer Reference 3 - this relates to reclassifying restricted funds as designated funds which have been incorrectly classified in prior years.

Transfer Reference 4 - this relates to the movement in fixed assets and the Free Church Loan.

Transfer Reference 5 - this relates to reallocating funds in the Desginated Fabric fund to cover the overspend in the general fund. Transfer Reference 6 - this relates to reallocating funds in the Desginated Church worker fund to cover the overspend in the general fund.

Transfer Reference 7 - this relates to the payment of loans.

Transfer Reference 8 - this relates to the movements of the gift aid debtor and accrued expenes in the year.

Page 16

��

Buccleuch and Greyfriars Free Church of Scotland

Notes to the Financial Statements for the year ended 31 December 2024

General Funds £ - -	Designated Funds £ - -	Restricted Funds £ 2,000 234	Total Funds 2024 £ 2,000 234	Total Funds 2023 £ - 246
-	-	2,234	2,234	246
- - - - - - - -	- - - - - - - -	100 60 1,200 750 1,135 2,000 200 500	100 60 1,200 750 1,135 2,000 200 500	491 75 1,300 700 600 - - -
-	-	5,945	5,945	3,166

-	-	8,179	8,179	3,412

Page 17