_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|
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## 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**
**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)**_
_**Office holders**_ Minister Treasurer Clerk
## **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.
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## 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.
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## 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.
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## 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:**
_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
1. 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
2. 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
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## **Buccleuch and Greyfriars Free Church of Scotland**
**Statement of Financial Activities** _for the year ended 31 December 2024_
|**Note**
**Income**
Donations and Legacies
**3**
Charitable Activities
**4**
Investments
**5**
**Total Income**
**Expenditure**
Charitable Activities
**6**
**Total Expenditure**
**Transfers between funds**
**12**
**Net Movement in Funds**
**Reconciliation of Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**
**12**
**Represented by:**
Restricted Income Funds
Unrestricted Funds
**Total Charity Funds**
**12**
**Net income/(expenditure)**|**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.
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## **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:
_Minister/Trustee_
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## 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.
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## 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.
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## 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.
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## **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|
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## **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 Statements**_for 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_
|**9. Analysis of Debtors**
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
Other debtors
9,477
-
**9,477**
**-**
**10. Analysis of current labilities and long term creditors**
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
**Due within 1 year**
Other creditors
38,278
-
Loans
-
4,200
**38,278**
**4,200**
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
**Creditors due after 1 year**
Loans
-
5,589
**-**
**5,589**
**11. Analysis of Net Assets Among Funds**
**General**
**Designated**
**Funds**
**Funds**
**£**
**£**
Fixed Assets
-
900,000
Current Assets
39,074
659
Current Liabilities
(38,278)
(4,200)
Long Term Liabilities
-
(5,589)
**796**
**890,870**|**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_
|**12. **|**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_
|**14. Donations and gifts**
**Individuals**
Nerissa Libanan
Donations and gifts below £1,000
_Sub-total_
**Institutions**
Bethany Christian Trust
Myanmar Appeal
Latinlink (Reanos)
Edinburgh Youth Project
Free Church of Scotland
Hope Church Leith
Women for Mission
Cumbernauld Free Church
_Sub-total_
Total donations and gifts|**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