soo
Ch•rlty r•glstratbon numb•f SC009934 (Ècotlandl
MONTROSE TRINITY CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

MONTROSE TRINITY CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Prln¢lp•l Offl¢• B•ar•r•
Mlnlsi•r•:
knt•rlrn Mod•r•tor'.
3•salon Chrk..
Ai•l•tAnl S••il(*n Cl•rk'.
Troa•ur•r'.
Ch•rlty numb•r IS¢ollandl
SC009934
Congf•g•Von R•l•r•n¢• No.
281T10
Prlnclp•l •ddr•••
39 Markol Str￿1
onlros•
Angu8
DD10 8NB
Ind•p•nd•nt •x•min•r
11 L)uOt￿p￿ IEiid¥V
Oundee
DD3 6TS
8•nk•r¥
Royal Bank ol Scotland
Broihock BfKlge
broaih
DD11 1NP

MONTROSE TRINITY CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION

MONTROSE TRINITY CHURCH
CONTENTS
Pa90
Tnjstaes, re¢KJrt
statamanl of trusi••s' r•5Fon¥lbiliti•s
Ind•pendant exami￿¢3 r•port
Stalernènl of finJn¢ial actiV￿e$
8818nc• sheat
Nol•s lo th• financial 8ts1oment$

MONTROSE TRINITY CHURCH
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEM8ER 2023
The Irusteg5 their annual rep)rt and finartfdl S￿leMents for the yèar anded 31 Dècèmber 2023.
The financial statem•nts have been prepared in attor￿ar￿e with Ihe a￿O￿nD"ng polKleS Sel oul In
ote I lo Ihe
finanoal slalemen15 and comply wrth the church's goveming éocyJmenl. Ihe Ch8rits8s Twsl
Inv8slmenl
IScotl8ndl Act 2005, the Ch8nlies A(xounts Iswtlandl Regulubon$ 2(M)6. FRS 102 Finanoal Reporfng S&ndaré
applicab￿ In tha UK and RepuNic of Ireland" and the Chant￿5 SORP 'Accountsng and Rerthing
y Charilies
Statement r)f Recommended Pvaclieè applicable to th8nlies preparirwJ their Atcounls in aecordance wrfth
e Financial
R•porbThJ Slandar(* applicable In Ihe UK and Rgpublic of Ir81and IFRS 1021..
08JECThIES AND AcTIV￿lEs
The chufch of Scottand Is Tnnstanan In doctrine. refomied In Iradition and Piosbylenan In Polty 11 exists t4 glonfy God
and to ¥¥Ofk lor the advancemonl of Christ's Kingdom througnout Ihe worfd As a national Church. it ack
8d9es a
disiinctiv• call and duty lo bring Ihe ordinances of relluion lo the people Irs every parish ol ScolL4rTrd thri￿g
a temtorial
minislry It co - operales wlh olhor Churches In vanous ecurn8nical bodi•s in Scotland and beyond.
Publlc b•n•fit
The '.rustees h8¥* pahy due regard to guidance ¢ssu8d by th8 Office of the S¢oThsh Chanty Reg¢Jlaior in
actiwti¥s the ¢*urth Should undertako.
iry what
ACHIEVEMENTS AND PERFORMANCE
Tho year under review h85 bèon a y88r of th8ng8. From 3rd August 2023 the congfegations of Monlro
Soulh &
Forryden, Dun & Hillsth. ano Montrose Cxd & St Andrew's were uniled as ￿￿trOSe Trinity Parish Church.
Translt
team. member5 from each ol the 1è9acy corvJreg8lion5, draftod 8 p18n for the new Kirk Session lo eon*'dei Much
of that plan was adc4)leiJ which allow•d Kbrk $8ssion to concentrale on Issues for esth￿iShIng a 5ystsrn for the
coming togelhÈr ol members Irom the legacy (x)ngr8gations an¢1 considering how to go foNf8rd lwlh k growing
congregaDon.
i.nion of Ihe congregall￿3
S BPPOlrnted as Inlgrirn N.lo(:e'i'G'-.
elrr•d Octobe.
¢? '. acum Ministars were appo',nie¢
Alter 2 years of being severely rest￿0￿ by Covid 19. 2023 has r)e8n a year of skJvAy 98tting bath lo m
practsces The Guild hel¢ Ils meetings agam." we h81d of rAJr main fund raisers. namely. the Summer F
Christmas Fair. we began coffeeltea after Ihe Cmjrch 5er¥i¢es and Ihe $lrtchtng 9royp started to meel a9ain.
Bringing together the accourls ol Ihg l*gacy congregalions has created a real problem frjr fv freasurer5 as
accouni sysloms had lo be brought together. With the of the Pres0￿ery Treasurer it was deoded
c4)rnputer syslem designed lor Churches . Liberty Accounls.
o nornal
r and the
differenl
8dopl a
It has iaken a congderabl• lim• to cary <yJt the work. henc8 tho delay In subrnittifWJ lh8 accc¥Jnts. 11 15 und8
in fvlvre y•ats the pror*s¥ will be mom strai9httoTrvarf.
l¢yA that

MONTROSE TRINITY CHURCH
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
The congregation's prinopal sourcè of Income are w8ekly offering5 and rronthly direct d8bil Income - mainly gfft 81ded.
Due to th8 income of thè chanty exceeding £250.000, Ihe a￿￿u￿1$ can no longer be prepaied on 8 receipts and
paymènts basis fh*y ore ntsv4 praparod on the %cnJals basis 3nd comrly with th8 Slatern8nt ol Recommen¢ed
Practice ISORPI for Accounting and Repcxting by Chanties Accordingty the figur85 for 2022. whith arè ￿ res￿¢1 of
Montrose Old & Si Andrew'5 cowregatson onty. have been restated on Ihe accruals basis
Al ihe year end thé charity holds £460.6S8 12022 £150.959 restated) In reserves. of which £252,122 is unrestricted
and of this froe res8rw•5 not Inveslgd In fixe¢J assets or designated amount io £146.026 12022 - £3.638 restated)
Amounts desvJnat8d 10ts118d £16.09612022- £4,555).
Union olChvrcfi85
The ass81$ and liabilrti05 ol Monlros6 South & Ferrydèn, an¢J Oun & H¢llside were translerred Into Monlrose Tnnity on 3
August 2023 In ac¢ordanct wilh Chanlies SORP IFRS 1021, thè transfer has been treated as Irwming resources
reco9nssed In Ihe Statement of Finanaal Activities 31 lair valtje as at the dale of Ifansfer The nel assets recognised i
the unK)n were
lonlros8 SOU￿ & Ferrydon - £189,$65
Dun & HI1￿$￿18- £69.870
R•$•rves poll¢y
The thafity trusi8es h8ve consKY8r8d the re5erv89 required and have 13k8n Into account Ihwr cuttenl and future
liabilities It IS the Tru510É8' Oicy to holL1 rèserves of 8pprtsxirnately one nwlh's including design8led
lunds. The rem8inin9 monies are held in trusi lor Montrose Tnnty Pansh Church
Inv•$tm•ntpoll¢y
Investrnents held at the year-end totalled £179,917 12022 £131.345 restaiedl. Tha chantys investrnent policy 15 to
Invasl in 8 ralabvety ltyw nsk wrtlL4io of inv8Stments. Th8 in¥estrn8ntS 8fe there1￿8 witr thB Church of ScotlBnd

MONTROSE TRINITY CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
On 3 August 2023, Montrose Tnnity Cnurch w83 e8tablL8hed through t1￿ unioft of the coryrega¢i¢)ne of
Irosè fjd &
St Androw13 Montroge South & Ferryden Chuich, 8nd Dun & HIIIsi¢Ye The unicffj was carried oul under lh8 guklance
and authodty ol lh• Presbfftry ol Porth. In 8ccordanc• the Acts ol lh• Gor*r81 Assembly of
Ghurch tsl
Scouand
Th• novAy united ￿ngr￿ath(￿ ado*wJ th• unilary mnslilulion as opproved by the General Assembly
The congregation is a rogisterod chanly. numbor SC009934.
The trusteès WPIO served during tbe year 8nd up lo the dato of signaiufe ol the finafir.ial SlaltsrnÈnts were
R•cruJ(m•nl •nd •ppolntm•ne of trvst••s
Mtrmbers of the Kirk Stsssion are the thanty Iru31eos The Kirk SesS￿n member5 aro Iht eldtsrs ol Ihe churc
and ara
chosen Ivom Ihose members ol the Ghurth who ar• conshgered lo have Ihe appropriaie 9ifis and 5*ills rh
minister.
ho Is • member ol the Kirk Session. Is elected by the congregatsun and Inducled by Presbylory The Kir
s5￿￿ Is
from wlhin ltto congrEgalion and memberJ of the congr8galK>n Are Invilo<J lo nominate indNéual
who are
believe¢J lo h•we Ihe 3ki11s 8ntJ commilmenl lo conlnbute to Ihe managernènt affalr5 01 Ihe Church. lo b
meKI
S89sion memb8r5 The Kirk Session 15 chaired by minis18f and meets Jl 1083t three 111n05 111 B
Certain
r8sponsibili11o$ Are del8g#ted to the v8riou5 Task Groups ag appropriate. Tho Kirk S8sgon which m8elS ai I*si three
limos a ye8r Is respongblg for 5pinlua1 all8irs wilhin th8 church Th& fvn¢tion5 01 tha Kirk Sè55ion, both spi
ual and
lomwral shall b8 delegated to the Kirk Session Executive vthich shall compnse the Mcxleralor ol the Kir
ssion,
Session Cl8rk5 wilh Link Eldèrn Iron each task group and sh811 meet oncg a mmth or as d￿Me1 necessa
Certain
r•sponsibililK8s aTe dele9ated to the Task Groups as approwale The Kifk Session shall rneet al1•8s1 annually
or when
ralled to do so In accrydance wth the Deed ol Con$titLJtion

MONTROSE TRINITY CHURCH
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR EhlDED 31 DECEMBER 2023
.%,15 approved by Ihe Board ol Trustees.
1 Se01￿m￿fir ?02.)

MONTROSE TRINITY CHURCH
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEM8ER 2023
The trustees 8r8 raspongble for prepanng the Twslees, Report and the finanaal 5taternenls In acco
applicable ltr and Uniled Kingdorn AccounbThJ Standards IUnit8d KirrfJ¢Jom Generalfy A￿epted
Pra¢licel.
ance %vith
urknng
The law ￿p￿ICable lo chafiti•$ in Sc￿lIand requires the trustees to prapare financi81 statemènts for •
year which gwe a ¢nJe and lair view of the slate ol aff8its of the church and of the inC%Hning r
applicatvM ol resources ol Ihe church lor that year.
rinanc431
rees an
In prepanng these financial slaiements. the Iruste85 are required to..
- select suitabl8 accountsng policies and th8n apply them consistently..
- observe the methods and pnnuples In the Chanties SORP.
8k8 iudgem8fts ar￿ esbma(e5 that afe reasona￿e and prud8nt.
stste wh81her appli¢able atcovnting stsnd8rds have been IrAlowgd, subjed ￿ Any mBl8nal departures
and explained In the financial slat8ments, and
prepare the financial siaiemenls on thè g￿ng conc•m basis it is inappropriats to pr•sufro th81
11 conts'nu¢ In operaDon.
i5clo¥ed
tharity
The truslees ar8 responsible for keoping suffiu8nl a¢rAJuftling records that éisdo$8 ￿1h reasonable accur
yatany
time the financi81 posi￿0￿ of the church and enable them to ensure Ihat the financial statements
with the
Chartties and Trust•è Investment (Scollandl Act 2005. thé Charrties Accounts IS¢ollandl R8gulatson5 2
an(1 ¢h8
provisions of the Irujt d8ed. They are 81s0 respon51ble for safeguardffig the a55els of the chvrch ènd ben￿ I
taking re8sonable steps for the Pfevention and detethon offraud and oth&r irwul&nties.

MONTROSE TRINITY CHURCH
INDEPEP4DENT EXAMINER'S REPORT
TO THE TRUSTEES OF MONTROSE TRINITY CHURCH
I ￿port on lh8 financial Statements of th• church lor the ygar endod 31 O¢cembef 2023. wh￿h ar8 Set out on pages
71028.
Fl••pectlv• r•sponslbllltl•• of tru*ts¢J and •xamln•r
The thwch's Iw5t8es are res￿nsIble for ltre Pfeparation of the financial statemnts In ac¢ord8nce w*th the leryns ol
the Charities and Tfuslea Inv8$lment ISoJtlanLII Act 2005 and Ihe Ch3n1*5 Accwnls Iscoljandl Regulations 2006
The church tnjsiees r£v)sider that Ihe audn r•quirerr*nt of Reoulatw)n 1011llaHel ol Ihe Chanties Ac¢oun15
Iscouzndl RwJlalions 2006 does not aoy
It Is my rosponsi￿¥Ity io eiamine Ihe finanu81 $￿terna￿t$ as requirod undèr so¢trJn 4411 Mc) ol Ihe Ch&ritias and
Trusiee Inv8simeni (Sts)Ilandl Act 2(X)5 and to state whethèr Part￿ular matter5 have com8 lo my attenl¥Jn.
B•sls of Indop•nd•nt •x*mlnerf• •l•t•m•nt
My examinalion Is carned out In accordance wrth Regulai￿n 11 ol the Ctranlie5 A¢￿￿nIS Iscollandl Re9ulatK)ns
2006. An ex8rnirnatyOn Includgs a fevlew of th8 accouniing re(y)rds kepl by the chanty and a cornpan5￿ of tho
finantral statements presented Ihose rewfds. 11 also Includ8$ consideratKJn ol any unusual ilem$ (K disck)Su￿$
in Ihe fip8nual statements. 8nd seekirng explanations Irun Ihe truslpes concefnirvj any such matlets. The
proc•dur*s undèrtak&n do not provide all tho g¥iderKe Ih8t %vould be required in an audrt and consoquenlly I do not
•xpr8ss an a￿311 wnion ￿ the wi•vi gwen by the financial stat8Thn15
Ind•p•nd•nl •xarnln•r's statqm•nt
In th• course ol my eyxni￿alm?n. no matter h85 come to my attenlK)n
l. which givès rne rea5￿#ble rause to believe thal in any malenal Tesp8cI th* requir•mènts
lo keep acc¢xnting record5 In aCC￿rda￿e wlh Secbon 4411llal of ￿e Charities and Trt5slee In¥estrnenl
Iseoliandl Act 2005 and Regulation 4 of the Chanbes A¢c¥Junls Iscouandl R8gulations 2006. and
lo prepare fin*ncial statements wh￿ch accorf with the &counts'ng rtrcords and comgly wrth RegUlat￿n 8 01
the Chantses Accovnts IScod8ndl ReguI8bons 2006
have not mot, or
2. to whith. ￿ my orrfnion. attontson Shou￿ be drawn In order to enable a pr¢)per und8r51anding of the finanaal
5taièmanls to ba reathèd.
Findlay¥ A4idil L rniied
11 Dudhope Torrace
Dund80
DD3 6TS
1 Septèmbgr 2025

MONTROSE TRINITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Currnnt Ibn•n¢l•l y••r
Unr••trl¢t•d R•¥trict•d Endo*m•nt
fund•
lunds
lurtds
2023
2023
2023
To¢•1
Total
I r••t*t•d
2022
2023
Not•s
In¢om• and •ndowm•nts from..
Donations And1893cies
Chantable activitres
Othèr Iradiro auNIlioS
Investmnts
Otiier Income
94.047
14.085
4.724
7.614
160.430
57.316
151.363
14.085
4.724
8,723
260.582
61.872
14.374
5.736
5.338
2.518
992
87.018
117
13.134
Total Incom• •nd
•ndowm•nl•
145.326
13.251
439.477
89,838
Exp•ndltur• on..
Chantable actNithes
130.327
9.042
139.369
108.532
Totsl •xp•ndltur•
130.327
9.042
139.369
108.532
Net gain￿1￿1$•¥1 c
Invesbn•nl8
12
8.156
1.725
310
8.191
123.8791
N•t In¢om•ll•xp•ndllur•l •nd
moY•rn•nl In lund¥
156,729
138.¢X
13.561
308.299
142.5731
R•c¢ncill•tlon of lunds..
Fund bal8nco3 at 1 January 2023
93.993
150.959
193.532
Fund balanc•• at 31 O•umb•r 2023
250.722
194.975
13.561
459,258
150,9S9
Th• staterr*n¢ of finanoal 8dMti•s rtL*Je5 all 9oins kJss•s r•co3nis•d in th• y•aT. All Irume and
¢Jerive frorn conbnuing aclivrtias.
pen¢Jrtur•
The hoi•s on pa99s 10 fo 28 fr*rn gart ol these finanool stalw1￿￿1$

MONTROSE TRINITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Prlor fin•n¢hl y•it
Unr••tricl•d
R•strl¢ted
fvnd•
2022
Tot•1
2022
2022
1401••
Incom• •nd •ndowm•nls from..
Oonations and legauos
Chantablo activibes
Other Irading activib•s
Investrn•nls
Olher Incom•
s8.1￿3
14.374
5,736
5,313
2.518
3.766
61.872
14.374
5,736
5,338
2.518
25
Tot•1 Ineom• •nd •nd0￿Th•nty
86.047
3.791
89.838
Exp•Trdllurn on..
Chantabkn 8Clivitses
105.393
3.139
108,532
Tol*l •xp•ndllur•
105.393
3.139
108.532
galnsllkj$￿3j on In¥*slwMnts
12
115.5981
18.2811
123.8791
N•t Incom• •nd fflov•rn•nl ID fvnd•
134.9441
17,6291
142.5731
R•conclll•tl•n ol lund•'.
Fund balarKes at 1 January 2022
128.937
64.595
193.532
Fund b•l•ne•• •t 31 O•c•mb•r 2022
93.993
150.959

MONTROSE TRINITY CHURCH
BALANCE SHEET
AS A T 31 DECEMBER 2023
2023
2021
tate
Not••
Flx•d •8s•ts
TArGI￿e
InY•9trnents
14
16
179.917
131.345
269.917
131.345
Curr•nt ••••l•
Deblo¢s
Cash at bank and In ttan
77
191.189
20.898
199.189
20.898
Cr•dltorg'. •mwnts l•lllng du• wlthln
on• y•*i
18
19 8481
11.2841
N•1 curr•nt u••t•
189.341
19.614
Tol•l *•¥•ts ts•• Cuvrnnt Il•blllll••
459.258
150.959
Th• fund• ol th• chureh
Endowrnont tundg
Restnctod incorn? fvnd$
Unr•$tncied lund$
19
13.561
194.975
2x1.722
21
93.993
459.258
150.959
Th• notes on pag•s 10 to ￿ fomi part ol th•￿ fin*w•l SI￿￿￿￿nIS
Tho fingnejal s￿1￿mentS **r• ar￿0¥•￿ by I￿ I'u.

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEPABER 2023
Accountlng poll¢l
Ch•rlty Infonn•tlon
Monlrose Tnnity Church Is a register•d chanty m Stollar#J Th• pnn)pal •ddre$5 11 giv•n In Wl ar
aoministralwe inlomwivjn ol th•s• finawat stat*meNs.
1.1 A¢¢ountlng conv•nlion
The financial 51at•ments ha￿ b•en w•par•d in a¢cr*d•nc• wrtlh the church's gov•nung dorwm•nt. Iha
Chanti•$ and Trustee In￿stMent Iscoyandl Act 2C4)5. Ihe Chanbes Acts￿￿ts Iscotsandl Regulat￿n9 2006.
FRS 102 "Th• Financial Reporting Stsndard *iCa￿e In the UK and ol Irdand" and the Chan118S
SORP "Accountrng and R•porting by chan1￿5 siatemwt ol A•cornrnended Practi¢• aswicablo lo chariti•g
prepanng their aecounis In a¢ttKdarte wrtn Ihe Financial Reporbng Standard appIl￿ble In the UK and
RepU￿1C of Ireland IFRS 1021" The church Is a Public Benefit Enbty as defined tty FRS 102.
Th• church has i•k•fi •dvanlago of Ihe prowx*vJ In the SORP lor ch•riti•S noi to pr•par• • ¥lAt¥men¢ ol
cash fl¢)ws.
Th• fInar￿al 3￿toMon￿ ar• pr•par8d In stth1ing. whsch 1$ Ihg luncih>uI uJrr•ncy ol Ihtr churth Mgnglary
rnounls in Ih•s• finano•l $tat•Thnls w• r¢Jundod 10 rwT•St £.
The finanual st3*monts ha¥e b•en wep*•d und8r lh• hat0￿1 cosl conwentK)n The pnnupal ¥¢txunMg
polio•s adool¢<l •re s•¢ ¢)ul below
1.2 Chan0• of b••l* ol A¢¢ountlng
The$* financkgl $i¥iements have yepaied on w Jccrual$ ba￿8 In pffjvityjs years, m¢ financ•1
statements wef• prepared ￿ a r￿1p1S and payments ba*$ The financi•l slalemonts. tsa￿ has beon
charrtjed 31nC• the cttantys gros3 4nnual *icome •x¢oed3 E250.rth for th8 financial year and ltte ¢h8rye Is
•c•ssary to comply with The Chgriti•S Accounls (S￿d8nd) R•gd•bon$ 2Crf)6 1•8 •m•nd•dl. Th•
comparBliv8 figwe3 h#v• bo•n rg-ltht•d m Ihos• finawal statefflents
1.3 Going Gon¢•rn
At lfve lirne ol app￿￿9 fin8no* statom•n13. the trusts￿ hav• a ro88onabl8 exp•ct4tKJn Ih•l the thurch
has adequal• r•Jourc•s to ¢￿￿nu* in opgraiwal •x15t•nce for ihe lor•seeable fiJlure Thu$ the tn•lees
continue lo adopt the oJin9 concern basis ol Kwuniing in prepanr#J Ihe finanugl siaiements
1.4 Ch*rl¢•bl• fund•
Unreslriued lunds are BvaA8ble us• at fv disu•￿ ol th• lYusleg5 ￿ lurth•rance of th•ir chantoblo
obpclwes.
Rostricled fund% are subJ8d to 5F*cfft ¢))nditMJfis by donors ￿ granlor5 as lo Ihey may be used The
p￿pose$ and ￿•S ol the reStr￿ed funds ar• sel wt In lh6 noles to Ihe fmancial staiements
Endtrwm•nt funds ar• sutii•¢i to specthc c(mdiliMs by Ih•t lh• CO￿18$ musi be m•nlained by th•
¢*yrch
1.5 In¢ome
Irojrre 18 f•wiised when Ih? church iq Wy entsued lo Il aft81 any perf¢yMaf￿ ¢>)ndiknon$ been rnel.
the arrKwnts t•n be measurnd rella1￿Y It o yobatAe thal irtome trt rec•N•d
Cash donatyons are recoJnk8od on r8ceipl O¢h8r dwations are rwnised once th8 cnurch has bèen Dotifi•d
of the donatyon, unl￿$ perfornance ¢0Th1rtths requwe dèlo￿al of the amount Incorne tsx recoverable In
r•l8lK)n lo dorobons received under Gtft Aky or deeds ol covenant ss rfr￿n￿ed al thè timo ol The d￿at￿n.

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEhlBER 2023
Accoundng pollcl••
ondnu•dl
Legacies art r•eognis•d ￿ r•ceipl or othemse rf lh8 has b￿1 notifie(l 01 on ImpendiryJ
Iho amount Is krv4*n. and r•c•W Is expected 11 th• 8nK>unt * noi krthfn. Iha legacy is i
conliwenl asset
istnbution,
ated a5 a
1.6 Exp•ndltur•
Ex¢eThJi￿re 19 re￿n￿d once Ihor• B a legal w crffi5tnJctN• ¢)bl*Jats￿ lo Iransfef ecryKfftc
thir# party. It Is probable thal a Iran5f•r ol •conL¥TK b•)•fit• wim be requlred in soth•mont. OWNI th•
the obligats)n can be m8asuTod roliatyy
fftioa
amtyjnt of
Exp•rwJituie is dasstfi•J by acts￿ty. c•$￿ ol •ach actNity ar• mad• up of the low of dir￿1
shared ujsts. Including supwl ¢xsts in¥olved in undet1a#iNJ each actswty tj.fect Costs attnbuiarie
actiwty aro alkxated diredty 10 that actwty sha￿ costs thch t¢￿t￿bUt0 to rn0￿ thon rne
support cosls which ale not attntwJt8Ne tr) a singl• are appJrtKJn•d between those •ctMt•s
eon818lent with the ustr ol fesourw C•nlral staff costs are olkxated on Ihè baws ol Dme
depi•ci8iion charges pn albcBtqd on the Frfwticm of the as￿.3 u5•.
sts and
o a sin9le
ty8nd
n a baSIS
n¢. and
1.7 T4nglbl• flx•d M••ts
Tangible fixed as￿1$ ale Inilwmy m••￿Jr•d at t>)St aryl subs•4U￿tty m•88ured al cosl crf v•luat'
depr•U&ll¢￿ and any IM￿l￿r￿1
n•t ol
o•prK1at￿fi Is MJCO9nised 80 as 10 W*Yrt• off lh• c￿1 or v•luatsoA ol ass•ts l•s¥ Ih•ir r9￿dual vahJ•i
us•lul11¥gs on thtr lollo￿rrtj bajes
v•r Iheir
Fr••hok1 l•nd and buildings
Nol d•W•¢￿tell
Church proparb•s ha¥9 not b••n d•ywat•d •$ rt K coftsthrnd thal thè us•hJl Irt• A so kng an
valu• $0 great that no depr•wbon o n•c055ary
r•sidu•l
The gain or arising on lh• dtsptssol ol an assel Is d￿•rminffA1 as th• drfl•renc• betso•n Ihe sale
and th• tarying Value ol lh• 8ss•I. and Ys r•¢Crfjni￿d in Iho sthtwn•nt ol fi￿￿¢￿1 ￿11¥￿￿$
The thanty has Ihe rght to occupy for ts thantabkn otyecli￿s c•rt#in tsngibl• fix•d assots.
the Church and halls. vested in th• ChU￿h of SeoYan¢ Gengral Trustees No COns￿er8￿9n 15 paya
us• ol Ihese assets. Exo•ndilufe Is incurred on Ihe repair and rrsainten8nce of Ihese assets ts cb
resourc•s exDen(W in 5talvrn8ni of financ41 acbwijes In th• periThJ ln ￿[ch Ihe anaés.
for th•
edas
1.0 H•rlt•g• •*M¢S
H•ntage are toTra1b￿ ass•ts *rth hist1￿C4. archrtedural, or cuttural 5wrfK4nce Ihal a
maintsined pnnopalty lor their c0ntntsvl￿i to Ihe arnj hemage of the ChU￿h. rather
op•raI￿&1 or financial gain
el¢ 8nd
h8n for
Vlhere heritag8 assets are acquired befrye 1 January 2015 and cosi OT Valua$￿ Infom)ation is
av*lable. and the cost ol otrtainbn9 wch fftlornat￿ Is deemed lo be dispr0p0rt￿￿te. ihose asso
capitsltsed In Ihe fina￿la1 stater￿nts. ￿ ac￿danCe ¥fflh ttte Chantres SORP IFRS 1021
assels are th3clo￿d In notes to the finanugl ￿Te mRtenal. induth'ng thiail
hislory. use. and any legal resln¢b'ons aftethng Ih*r trAThiwship or diSFQSal.
readity
are not

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO)
FOR THE YEAR ENDED 31 DECEAIBER 2023
Accounting pollcl••
ICon¢fjnu•dl
1.9 Flx•d ••Mt In￿*1)n•nI%
Investmènts in the Church ol Swltand Unrt TNsts I￿ rne•sur•d at ihe bvJloif•r pnce determined by the
Church ol Scolland al Ihe year er#J
Inveslrnents ho+d in inwJstm•nt #r• valued al th•ir mark•t vahJ• as provkjed by InvEslment
m8ngg8rs al the y•ar end
1.10 Imp•lrni•nl of fix•d ￿ty•￿
Al each reporting end date. the ¢*urch reviews the carryin9 arTh>Jnts ol its larsiN• assets to determine
whelh8r Ibe￿ 13 •ny Ind￿t￿ that IPw)se assets have suffer•d an Impainnenl kjss If any Such Indr8bon
exists. the reco¥*ab￿ amount ol the 85301 Is osbmai•d In order to tleielmine the #￿trI1 of the Impasrment
lo￿ lif Bnyl.
1.11 C••h •nd ¢AAh •quh•l•nts
Cash and cash •qui¥alenls Include cash in hand. d•posits hdd al ull wth ba￿$, other ¥hM-l•nn IiquKI
In￿siMont$ wrth {￿gIn&l m8tuftl*s ol thr•• months or l0$5. and bank ¢)¥erdrafts Bank 0￿draftS aro Jh¢)wn
lfv'n borrffinqs In curr•nl Ilwknes
1.12 Fin•n¢l•l In•trumnts
rh• church Ptas èlocted to apF*y lh• p￿￿$￿)n3 of S•¢*J'on 11 '8•wc FInanc￿l Instsum•nts' and SeGlion 12
'01￿￿ Financial knstrurnenis Issues. ol FRS 102 ￿ 81101 its finand•l Instrumwts
Financi•l Instrurnents ¥• rec4r¥s•d In lh• thur¢h's balarce she•1 ￿en th• church bec￿￿¥ paty lo the
contr•clu•l ol lh• mlwment.
Financial asJ•is and Iwbilrties ar• offset. ￿1h lh• net an￿nIS pr￿0￿100 in th• finar*al stst¢m•nis. when
Iher• is a legally •nforceabl• nght to ￿1 off the r•cognra•J anY￿nts Ih•r• t5 an Inl•nlI¢￿ to 3•ttle OD • n•1
ba515 Qf to r•ali* the ass•t s•lU• Ihg l￿bilIty 9imultanow￿y.
8•slc Iln•n¢l•l •ss•ts
88sic fin8naal assets. whKh Indude debtors aThJ cash aThJ bank balanc45. afè Inltialty rneasur•d 81
tran$acith Indudiryj transxtw Q)5ts are gJbsequgnll4 earned al #morti￿d cost ￿￿ng lh• effecliv•
Inler•sl melhcé unknss the arrangew•nl ¢onslrtutes a finonong transac1￿, whefe Ihe Iran50thion is
me85ur•d ai lh• pres•ni ol the r•cel￿s d1scounled at a rnark•l rale of Interest Fmianoal assols
dassffied as re(*Nots￿ ￿ThIn rfft year are not •rThJwbSOd.
B*sk fin•n¢l•l li•tsliti•S
8asic finanoal li8tslthes. indudin9 credilors and bafik h)an$ are iThbally recognis•d al Ifansaction pnce unlèss
Ihe aTrang•ment Cons1rfut￿ a finanrjng transacivjn. th8r• the dabl Inslrurpi8fi1 Is moawreil al th• pr•sent
value of the future payments ¢13wuni•d * a mark•t rate of iniere51 FTriano81 hatxlilm dassrf*d as payab
thin one year are not alr￿)rt￿￿
Debt insirumen15 are subsequentty cam•d ai am0￿Se￿ cost. u*rvJ Ihe 8ffociNe m¢ergs1 rate moth￿1
Trade rxedrtors are obligations lo pay for p)dS Iv serwc05 Ihat have bw* acquir￿5 In th• ordinwy cJJurs• ol
operalKfis frcffi suppl*rs Amounts payable are dasgfied as current l%abilibes rf payrnent Is due wilhin one
y•ar or lèss W not. Ih*y are pre5•nied as non-currenl Iiatrilitws. Trade crgdrtors ar• recognised Inibally at
transact￿n pn¢t and Subsew￿ty measured at amorbsed cosl usiryJ the effoctNe Inlerest mothod
O•rncognillon ol Iln•n¢l•l Il•blllb•s
Financial l*biltses ar• derecogTh$ed when the churth's umtrxlual oblig8tbMs ex￿re or are discharge(l or
car￿•1￿0
12

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2023
Accountlng poll¢l•s
i(S)ntinuedl
1.13 Employ￿ b•n•fil•
The cost of any unused holid8y enbd8mènt Is recognised In the period in which Ihe ern￿oYee'S s
ceive
Ices 8rt
Temiinalion benefits are rtcognised immedi8tely as an expense when the Church ts demonstrabty
to 18rrninalè omployment of an ￿￿￿oyee or to prowde l•rminatson b8nefits.
mmitteil
Crltlcal ae¢ountln9 •Stlmat•s and ludg•m•nts
In th8 applicalion of thurch'5 accounbng poIiciE5. the trustees are required to make iu¢Jgemerts.
slim8les
and assumptions aboul Ihe caryng amount of assets and 118biliti8s that are not re8dily app8r8nt tsom other
sources. The e$tim8les and assooaied assump*on5 are ty8$8d on hisloncal expeneAc* and Olher f
th8t
are ¢on5idered lo be re*vanl Actual rèsulls may differ from Ihese eslirnales
The 8stim8ttrs and undertying assumptions are revi**Yd on an ong¢yro basis. RI￿slon$ to
•stimates are reco9nised in the period In which the 8Stirnale Is rewsed where the revision affects
pencKI. or in the p8nod of the revision an¢J hjture period5 Whe￿ the r8wsK)n affects both ¢uThenl
periods.
nting
cnly that
d fuiur8
K•y #Our¢￿ of •sllmatlon unc•rtalnty
Prop•rty valuatlon
As part ol th8 union of the 3 congregations dunng the year. the ch811ty assumed responsitslity lor a n
mber ol
properties Iinduéing a thurch and church halls) ￿lCh had not previously been reeogn15ed on anylbalance
Sheèi. Allhough the Church ol SeoUand retains ownership ol church ￿lId1n95. these additional ploperbes
were confirrned as beitwj Iwally vested and have thw8lore been re¢cgnisefl In Ihts financial statemen
lor the
first timè.
In the absence of fomal valuations. th8 trustees have applied iudgernent in estimabng the fair vaue
properti85 for Indusion In the fixed asset register Those estsmales were based on a range of factors. i
property size. location. iecenl market actrvity. fA)ndition. Indicathve sale pnces lor comparable b
Thtr Irusle8s conssdered this approach to be reasonatAe ané proportiCffj8t?. 9￿•n the natu￿ and u
as5els and the c<Jst of oblaining professional valuabons
f these
cluding
sldings.
ol the
The valuation of these properties r8pre5ents a 51gnthtani are8 of gstrmation and iut1gerneni within the
stalemenls
nanoal
Income from don4tlon• •nd ￿9*cl•S
Unr•$trt¢t•d R•sirfjet•d
fvnds
funds
2023
2023
Tolal Unr••trf¢t•d R•strlct•d
funds
funds
2022
2022
Tot•1
2023
2022
Donalions aTrJ gifts
Legacies
82.047
12,000
86.891
64.472
57.106
1.0
3.766
0.872
1,O¢YJ
52.472
94,047
57.316
151.363
58.106
3.766
1.872
13

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donations and l•gaci•
IContlnu•dl
Unre•lrict•d R￿tricted
luntJ•
lundi
2023
2023
Total Unr•8trl¢t•d R•slri¢t•d
fttrnds
funds
2022
2022
Total
2023
2022
Don•tlons and glfts
WFO Off8rings
Open plate and otrer
Tam rtrc0¥6r8d on Grft Ai
11,849
52,900
17.298
11.849
57.744
17.298
40.085
5.784
11.237
40.085
9.550
11.237
3.766
82.047
86,891
57.106
3,766
60.872
L•g•¢I••
S Harringlon
l Gove
D 8ruc8
S Barclay
Other
1.000
1.000
10.000
1.000
10.000
52,472
52,472
12,000
52.472
64.472
1.000
1.000
In¢orne from ¢harttablo a¢tl¥btl•s
Unr•strl¢t•d
funds
2023
Vnr•$tri¢tttd
funds
2022
Op•rallon ol church •nd church h•lls
Weddings and Funèrals
Use ol Prem1565
1,552
12.533
600
13.774
14.085
14.374
Incom• from oth•r tradlng •¢1lvttles
Unr••tild¢d VnrestrlGt•
lunds
fund)
2023
2022
Fetes. Bazaar. and other fundraising
4.724
5,736

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Incorn• from Inv•stm•nt•
Unr••trict•d R•itrlct•d Endowm•nt
funds
fund•
luntjs
2023
2023
2023
Total Unr••trl¢t•d R•strlct•d Endowm•nt
funds
funds
lunds
2022
2022
2022
Tot•1
2023
2022
IncLTh Ircm unlisted Invostmonts
Inl8rest rec8tvabl•
6.219
1.395
6,219
2.504
5.287
26
5,287
51
992
117
25
7.614
992
117
8.723
5.313
25
5.338
Oth•r Incorne
Unrestrtctod R•itrl¢lgd Endowm•nl
lunds
Ivnds
funds
2023
2023
2023
Totsl Unr•strlet•d R••trtct•d endowm•nt
funds
lunds
2022
2022
Total
2023
2022
2022
Released from endowment funds
Transler of ￿n￿n balance
Insurance daim
2.518
2.S18
159.283
1.147
87,018
13,134
259,435
1.147
160.430
87.018
13,134
260,582
15

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Exg•ndllur• on ¢harltsbl• aetlvltles
r•6tat•d
Op•ratlon of Operatlon ol
¢hurch and
ehur¢h and
ehurch halls churth halls
2023
2022
DSr•ct costs
Staff costs
Travel
Giwng lo grow contribvtions
p￿Sbe1ery dues
Rates & Insurant•
He31 & Iighl
Guild expenses
Cleaning
R&pairs & rnaintWl8nce
Donaiions
Pnniing. Fosl8g• & statson8ry
Youth Work
Other cost5
10.480
2,177
55.900
1,142
10,920
21.219
1.842
6.249
9.650
1.021
2.031
2,692
5.316
12.520
1.232
51.452
1.308
8.807
11.023
1,747
3.513
1Z.019
643
1.392
81
130,639
106.462
Shar• ol •upport •nd gov•m•n¢• costs lu• not• 91
Governance
8.730
2,070
139.369
108.532
Analy•l$ by fund
Unrestncled fijnds
Reslncted fvnds
130,327
9.042
105.393
3.139
139.369
108.532
Support cosis 4llo¢•i•d to acti¥lti•s
r•stated
2022
2023
Governance costs
.730
2.070
Analys•d b•lw*Èn'.
Operation of church and church halls
8.73D
2,070
16

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
support ¢o•t¥ allO￿t•d lo 4ctfvitl••
lQ)ntlnu•dl
2023
2022
Go¥•rn•nc• ¢c•sts cornprl*•'.
Independent exarningrn, 1••$
8.730
2,070
8.730
2,070
Support C06t8 have nol btsn a•p8rat￿Y Idenlifiod as Ihe Iruslees con51der thère i¥ only one tharrta
Therèlufa 8UPPOrt costs relate 4¥t￿Y 10 that activity 8nd hav• not separately Identified
activity
10 Tru•t••$
Dunng th• year. 1 Injstet rec•N•d f•muneration 01 £4,074 12022 . £3.8841 for seFvi¢•s 0$ T
B8a<Jle
Dunrvj th8 y•8f. no Ifustee rtt4ived ony r•imbursernenl of •xp•ns•s.
No Irustee or 8ny person r￿at•d ¢0 a trustee any por30nal Inl?r881 In any controet or IransaclKry
Into by th• charfty
Chur¢h
ontero¢J
Ernploy•••
Th• over8ge monthly numb•r ol •m￿0Ye81 duflng the year was.
2023
Nurnb•r
2022
Iiumb•r
AdminL8lrp1￿n
employm•nt co•t•
2023
2022
Wages and 8al8ne8
10,480
12.520
Indud•d within wa9os And Sa￿a￿a$ ar• locum rnini¥t•f costs
Social securtty costs incufrèd In lh• ye8r weig £NIL12022 - £1.2921
I Church ol Scollano cor¥Jregalions contrttxjte lo th8 Nat￿n81 Stipend hjnd which bears coqt ol all rn
5tIPBnd$ and employ8rf$ conlnbutions for n8tsonal Insurance, pension and ￿)using loan Iund
Slipends ar8 paid In 8c¢ord8nce nalwal stlP8nd sc4le. b¥hi¢h Is relaled lo years of servi￿. lor the
year undef r8Vlgw the minirnvm 81Ip8nd was £30.135 12022 - £28.7001 and Ihe rn8ximum stipend In
e5
and sUbs￿Utn1 years of serwce- £37.032 135.2691.
Islers
Thvre were no emrloy8e5 whose anThJal remun•rats'on was more Ihan £60,C4JO.

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Galns and losM• on Inv••tsMnt¥
r•sl•t•d
Total
Unr••tsi¢t•d R•¥tri¢t•d Endovm•ni
ndj
fvnds
fvnd•
2023
2023
2023
Totsl Unr•strbct•d R••trict•d Erbdowm•nl
lund•
lund#
nds
2022
2022
2022
2023
2022
Gain￿(￿Sses1 arisry on
Rev8luai¥J) of investrn•nts
6.156
1.725
310
8.191
115,5981
18.2811
123,8791
18-

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Taxatlon
The chanty is exempl from ¢axatron on Ils actmties because all Ils income 1$ 8pplie(I for chari1a￿e p
poses.
14 T•nglbl• flx•d 8•*•ts
FM•hold land
.1 bulklln91
Cost
Addiknons
At 31 Decemb8f 2023
).O(J)
Carrylng amount
At 31 December 2023
15 H•rltsg• aoS•ts
Heritage as5elS linduded at Enil value) ￿nSISt of the chkjrch halls known hi5tonc2lly as Th8 St88
which was wuir8d for £1.500 In 1895. The halls have been used continuously for church anLI
purposes ar*J conknnue to supwrt the mission and outreach actNitstrs of Montrose Tnnity Church
The property is 5ubJ8cI to a dep)sition which stales that the church halls rnusl be us*d In (x>)nectionwth the
Church of and the proporty may r￿1 be sold or olhewsè disposed of. Thesa r851riclK)ns
inyt the
congregation's uxtrol over the a$sel and its abilty to r8alis& any econ0rn1c benèfrt At￿rding￿. no
8lue 15
Included for the church halls in balance shoet.
lo Halls
rnunity
16 Flx•d a*s•t Inv••tm•nts
Il•t•d
Inv•4m•nts
Cost or ¥alu*llon
At 1 January 2023 a¥ restated
Transfer from ijnion
Unr881ised gain I Ikjssl
1,345
0.381
8,191
Al 31 December 2023
9,917
Carrylng amount
Al 31 De¢8mbw 2023
9.917
At 31 December 2022 as restated
1.345
2023
2022
Investrnenls at fair value ujmpnse".
Chuictr of Scolland Inv851ors Trust Growth Flind
Church ol Srolland In¥è51ors Trust InC￿rre Fund
43.597
136,320
.345
179,917
13
.345

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2023
16 Fix•d a•￿t Inve¥tm•nts
Icontlnuodl
In¥••tm•nt rl#k•
FRS 102 requires the disdosure ol informaiion in rela￿On lo certain Investmenl risks. These risks ore sel out
by FRS 102 as follows.
Cr8dil nsk" this is the nsk that one party to a financigl inslwrnenl wll cause 8 finanual loss for the other party
by failing to discharge an obligation.
Market risk. t*is ¢ompnses cU￿ncY nsk. int•r•st rate risk and other pric• risk.
Currency nsk.. this Is the risk that the fair value (K hjture cashflows ol a financial asset will fluctuate bttause ol
th8 changès In m•rket Interest rates.
Inlète$l rate nsk Ihis Is the risk thai the fair value of lulure cashflow5 of a firFanrJal asset will flutluate bec2use
of changes in rn8rkot Interest rates
The Church h8s •xposur8 lo Ihese risks boc•use of the In¥8strnonts il makes to Implernent its Investment
siralggy Th& Irust8e5 mana99 investment d5k5. Induding crodit risk an4J market nsk. within agrged nsk limits
which a￿ sel taking into accounts tre ffusf$ straiegi¢ investment objectves. These Investrneni obpctives
and risk limits are Implemented through Ihe investrr¢8nl manager agreern8nts In place with the Church'5
InvBslm&nl managers and Fronitored by the Trustees by regular review5 of the Inveslment porlfolios
Curr•ncy rl8k
The Church $5 subj.ect to cuffency beGqU5e some ol the C￿rch'S Investments aT• hekj in ovorseas
marke15 via the pooled tnv8Stment vehic185
Int•r••t rnte ri•
Thè chanty 15 subject lo inttsrest rale nsk lttrough Investm8nts comprising bond5.
Olhor prle• rl•k
Other pnce nsk aris8s pnn¢ipally In Telation lo equities held In ￿yed vehicles. The Chuvch manages Ihis
8xposure to other pnce nsk by conslruc11ng a diverse POrtfolK) of investments across ¥anous markets
17 D•btors
2023
2022
Amounts lalllng du• wlthln ong y•ar'.
other iJeblor5
8.000
18 Cr•dltors'. •rnount$ falllng du• wlthln on• y•ar
r•stat•d
2022
2023
Trade cr8dilors
Accmals and d8feryed Incom
1,446
8.402
1.284
9.848
1.284
-20-

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR ThIE YEAR ENDED 31 DECEAIBER 2023
19 Endowm•￿ fund•
EndowTrent fijnds r•pr•sent asseis t*thKh must bo held pem)anenfy by Ihe church Incorne arisng
•ndowmenl hjnds can be u58d In 8cc(*tlanc8 wrth the objects OF the church and is wKluded 88 un
Incorne Any capital gains (K losses ansing on the assets fomi part of the kntl
tncted
At 1 January
2023
In¢omlng
r•sourc•s
G•lns •nd
Ioss•5
At31
c•mb•r
2023
P•rnianont •ndowm•nts
rhe Chanta￿e Bequest Fund
M15s Sievevmght Bequest Car
anche Lyaii 8equesl
Old Bunal FurKJ
Blanche Lyall Bequest
5.655
505
3.893
824
2.374
5.655
505
4.203
824
2.374
310
13.251
310
13.561
Purpos• ol Endowm•nl Fund•
The Chafi*alJe Bequest Fund . The TnJste•s set a5•Je lunds for tha ol Ihox in dire ne
adrnini5tered al mintsterfs d15trebC*I
Miss S¥tveWI Beq4￿St Capial. IncA)me LS to be generdl pJrFrt)ses
818nche L￿11 80que51- is transferred fly Re¥￿￿e accojnt use
Bunal Fund- ￿n￿m• to be used to rna￿1•n the old i¥JnaJ 9￿fid
8lanthe Lyal Bequest. irKome 10 be used to PTov*Je supt*yt lo paiish m￿b￿S
21

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
20 R•S¢￿£t•d funds
The ￿Stn¢ted frJnOs ol the chanty comww the Unexpe￿ balanc4s ol donal￿$ and grants held on trust
subjacl to speofic condrtw)ns by as to h¢Mt they may ua•J.
RMtsled
At 1 J•nuary
2033
Incorning
r•sour¢•s
R•sourc•s
•xp•nd•d
G*ln• and
Ioss•$
At31
D•c•mb•r
2023
Organ fund
Youth fund
Sunday Schod
Guild
Summer M15sion
Fabflc hjnd
Mission Cup thJn¢
Sunday Club
10.. 10 Club
Church Craft'n Cafe
Church F811<Yrthio
Philos Cafe
Holiday Club
Flowers lun
Children's EdU￿b0￿ Fur
Project Fun
Misc Pansh Fund
Dun Hall Fund
Dun Church Intenor
re1urb1shff￿nt ￿n{j
Chait fund
Napier Beq￿81 fund
Youlb Club hJ
Fabric WoFkir4J fund
J Adarn Bequest
The late Sophie 8arday
466
4.147
4.962
1.732
115
45.545
17
151
1.580
1.673
483
4,298
3.850
1.599
115
47.270
36.601
159
235
20
136
2,936
65
25
1,652
11,967
1.482
2.528
12,6921
11.8061
1.725
36.601
159
1.114
1.041
18791
11.0211
3,924
6S
19881
1751
1.652
11.967
1.482
2.528
ln
23
378
1.159
12.122
14.805
S2.472
177
23
378
1,159
12.122
13.224
52.472
11,5811
145.326
19.0421
1.725
194.975
22-

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 R•$irfj¢t•d lunds
l¢ontlnu•dl
R•8tst•d
At31
•mb•r
Pr•¥lou$ y•ar'.
Al 1 J•nu•ry
Incomlng
2022 rnsourc•s
R•sour¢••
•xp•nd•d
G•lns •nd
1088e*
2022
Organ luno
Youth lund
Sundoy Scho
Gui
Summer Missi
Fabn¢ funcl
463
4.124
5.012
1.055
115
53.826
466
4.147
23
1.342
2.423
11.3921
11.7471
1.731
115
45.545
18.2811
64,595
3.791
13.1391
18.281}
-23-

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 R•*trSct•d fvTrls
IContlnu•dl
Purpose of r•strl¢t•d fund*
Oigan fund- This fvnd Is provK1ed for Ihe n%Tirtenawi of the or9an
Youth fund - Th￿ Is b) provKYe eAtra f(Y the chiklren of the pBrish
Sunday Sthod hJnd- Th￿ lurnl Is to Sup$￿ the runniTrJ ol Ihe Sunday Schc
Guild bjnd - This IS uséd io th• C￿11￿ ryoJ•
Surnm•r Mtssion luTrJ- Tlws Fund s used tho IIissK*)
Fabric FLmd- Th• fvThJ is use(1 Io Upkeep the rA Ihe Ixtiljirgs
MisS￿n fund. This lur*Y • to be used Ir# ar￿ aKI as a reservè fot lo￿"¢ repairs
Sunday Club . This ￿￿￿j is 10 b• used th? nJMiry of lh8 s￿
10..10 Cltsb . This Is to be used lor Ihe runrwTrJ of the 10 10 Club
Church Craft n. Calé . pro¥Kles a semce cc41eds lur¥Js frjr dtsintyuts)n lo variws
¢h8rit8tAe orw¢8trfffls
Church Felowshp . Ths is to be used ts the nJnnirq ol thtr Fe1k1￿h1
Philos Calé- Ttr•s fLtThJ is lo ba used fry iP* runnirg of Phlos Calé
Holiday Club. This fvnd LS to b• used Ihe runrry d Ihe HcAkaay C￿b
Fhmer lund . This fvtyj o to te used to pioYKJe 11cr*￿ for display dvnry 59TrICW L31 worship
Chil¢Jr•n's Ed1K•t1￿ frAI. Thls is a fmj lo ryovth extra for thè thklren ofthe panyh
Propct luTr#- This Is a hJTrJ lo assist wlh Ihe 0)st of lyththro l uFo]rading our cwr8nt bthkn.ngs
Mis¢ Pansh fund . ThLS 15 a lund lor Ihose in ne
Dun Hall fund- This Is a lund lo asg51 ￿th upJrdthng Ihe Wr￿￿1
Dun Churth irnefior Refurt*shmenl - Th15 ts a tund io assist wnth updatyng iniencrf al Oun Church
Napi•r 8equ8St lund . Thts L8 a lund thgs• by lh¢ TThnislor I veasur8r IconfKlontiall
Youth fund - This *JTrJ ts lo be usery for nthning the YrxAh Chjb
FaDric Woiking tund . This furid Is to Iho fat￿¢ of tr* buildings
The late
Monlros6
. to be u98d to assot the maintenanc• of the Wls n Cosle street.
.24-

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
21
Unr••trlct•d lund•
The tsnrestncte<J ftjnds ol the charity cornpnse Ihe un•X￿￿￿8d balances ol (Jonalions 8nd 9ranlJ wh
not subject lo specrfic conditions by donors and gr8nlors as to how Ihey may be used These include
Llosenaled fvnifjs which h8v• been s•t asid• oul of unrestricled fund$ by the liusiees lor specific pur*ose5
hare
As r•ststtd
Al 1 January
2023
Incomlng
r••ourc••
R••our¢••
•xp•nd•d
G•ln• •nd
At31
c•rn￿r
2023
8•qu•ii lund
Sieeple Group
F8tsnc
Fabric Local
Fabnc fund
Fabric fund
Guild fund
Gen•ral lunds
1,084
40
7.124
539
2,929
20
404
4.489
6.902
232
268,813
559
2.823
4.489
6,9)2
15101
1361
1129.7811
89,438
6.156
34.626
93,993
280.900
1130.3271
6.156
50.722
Pr•vlou• y••r:
At t J•nuJry
2022
In¢omlng
r••tsure•i
P••ourc•s
•xp•nd•d
G4ln• and
At31
D•i>•mb•r
2022
88que8t fund
Steeple Group
F8brit
Fabric Local
G•ner81 funds
1,078
1.084
536
2.642
124.678
539
2.929
9.438
4.422
81.616
14.1351
1101.2581
115.5981
128.937
86.047
110S,39JI
115.5981
3,993
25

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
21 Unr••tdct•*J fund•
IContlny•dl
Purpo8• ol d•olw•t•d lund•
8equesl fun¢ Tho Trustees have sel a3id¢ funds for the m•inlen•n¢e of the Church properties known as The
Sleeple
5taeple GrtyJp - Thg Trustees have 581 ashye ftjnds lor use by Iho St8$pIo Group
Fabri¢ - The Tru¥t88s have set asid• funds for Ihtr rnainten•ne• of the Church propeme8 known as Th
Sioeplo
F8Dric Local - Th• TnJstees hav• s81 aside lutMl8 for th• maintenan¢8 tsl the Church prowrt185 kn¢)wr as Th
Sleepbe
Fabnc hjnd Thg Trustees have set •sKle lund8 for Ihe mainien8nce of tho Church prOpert￿S located In
Ferryd•n
Fabnc lun¢J - T￿ Trusl••s havg 5•1 asid• fvndi for Iho mainl•n8nc8 ol tho Chufch prop•rt*s k)caled In
Guikl lund - The Tru5tee5 have sel aside fun(ts lor use by lh8 Guil
22 An*ly•l• ol n•t •s••t• b•tw••n fund*
Unr••trlct•d
lund*
2023
R•strld•d Endowm•nt
fundJ
lunds
2023
2023
Tol•1
2023
At JI O•c•mbw 2023..
Tangible 8sselS
Investmen15
Curyent 8880ts4li#knl4t￿3I
90.000
119,086
41,636
90.OCrf)
1 T9.917
189.341
47.270
147.705
13.561
250.722
194.975
13.561
459,258
Unr••trl¢¢•d
lund¥
2022
R••trlct•d Endowffl¢nt
fund¥
funds
2022
2022
Tot•1
AS r•¥tat•d
2022
At 310•c•mb•r 2022..
Inveslrnenls
Current 858etsllliabilrtiesl
85.800
8,193
45.545
11.421
131.345
19,614
93.993
56,966
150.959
23 Volunt••fS
In common all congregations ol the Church ol S¢olland. the congregation benefits frorn the eornribution
made by voluvteers who give Ihèir time and talents willingly lor Ihe benefit of Monlrose Trinity Th8 areas ol
congrÈgaliono1 life which rety on the conlribvlions of volunteers are rnany and varied and rnuch tsf the activily
would be unable to ￿ntInUe wtrro rt not lor Ihe cornmilmèni shown.
-26-

MONTROSE TRINifY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
24 R•l•t•d party transactlons
Ounng the year. Trustees cdlecbvely donated a sum totalling £15.182.
During the year, Minister5 received roimbursed travel expen$89 tol8lling £2.175 12022 - [1,2311.
t2,71312022- £3.2201 was paid in fespect ol Counal Tax for the manse
addition
25 Collecll•n* for Thlfd Partl•s
2023
2021
Collections HIV Programme
Syria Apptsal
T8ar Fund
Montrosa Town Band
283
177
345
176
698
283
26 ol￿r funds
These are separalely regisiered chanbes and trusts under the control of the trustees
N•m•
George and Annie Keir Fund
Old Church 8eneTrnlent Fund
Numb•r
SC021333
SC026963
27

MONTROSE TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
27 Prbor p•rlod •dluslm•n¢
Changes to th• b•l•nc• •h••t
At 31 D•¢•mb•r 2022
As pr•viou*ly
Adlu*tm•nt
T•port•d
R•st•t•d
Flx•d a•8•ts
Inve5trTients
Cr•dltOTS du• wlthln on• y••r
Other cre¢JitOfS
131.345
131.345
11.2B41
11,2841
N8t 8sselS
20,898
130.(￿1
150.959
Capital lunds
Income fuThJs
R8Stncted lunds
Unr•stncled funds
45.545
84.516
56.966
93.993
9.477
Tot•1 •qulty
20.698
130.IJ81
150.959
Chang•• to th• profil ind los• •ccount
P•riod •nd•d JI D•c•mb•r 2022
As pr•vlously
Adlts8trn•nt
R•stai•
r•port•d
Charttable acti￿￿eS
107.248
1.284
108.532
Net gaifts on inv8Stmenls
123,8791
123.8791
Net movement in knnds
117.4101
12S.1631
142.5731
Ovnng Ihe y•ar. the congregation underwonl a un*w ol three l(ymoty Independent churchts. The
Comparative fgures rglaie to Monlfose Old & St An4re%¢s. which prepared Ifs financial Slalemenl$ on
Receipts and Payment5 basis In the pnoF year A5 the ¢urTrnl yearfs accounts are prepared on an ac¢rual
basis. In line wilh chanb.es SORP IFRS1021, Ihe prior year figures have been restated acC￿rding￿ b provide
C￿Mparabl1lty
28-

MONTROSE TRINITY CHURCH
APPENDIX
FUNDS HELO ON BEHALF OF THE CONGREGATION BY THE CHURCH OF
SCOTLAND GENERAL TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
CAPITAL ACCOUNT
Balance al 1 January
Union tran51er
68.805
20,226
,805
Balance at 31 Decernber
89.031
.805
Market Value ol 8alanc•s at 31 0￿mber
94,852
REVEhlUE ACCOUNT
Balance at 1 January
Union translor
Interest 8nd divHYends rgceived
Adminislr8tion costs
.020
7.553
1.957
1771
902
.2351
Cfedit balance at 31 C￿cern￿r
10,121
688