THE CHURCH OF COTLAND PREsBERy OF EDINBURGH AND WEST LOTHIAN THE PARISH CHURCH OF ST CtrrHBERT AccoiNrs FOR THE YEAR ENDED 31 DEcE[BR 2024 Congreptlonal No: 011)OYJ S¢ottish Charity No: SC010592 CONTENTS PAGE Tru5t¢¢s' Annual Report I- IL Ststement of Financial Activiti¢s 12 Balance Sheet 13 Statell of Cash Flows 14 Statement ofA¢eouDtin8 Policies 15-16 Notes to theAc¢ounts 17-23 ReNIrt of the tndepenthnt Examitter 24 Appendix l.. FU[S Hekl by the GeneTal Tn7s¢ees ST CtrTHBERTIS PARISH CHURCH OF SCOTLAiYD: EDINBURGH SC010592 Page I
THE PARISH CHURCH OF ST CUTHBERT TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustces presen¢ their annual report and fin8n¢ial statements of the charity for the year ended 31 De¢embeT 2024. The finalai 5tateneThts have been prepared in a¢rordauce with the accounting policies sei out on page 15-16 of the accounts comply with the General Assembly Regulations for congregation Finance, the Ch#riUes and Trustee Investment (Scotiaod) Act 2(K)5, the chltieS Accounts (Scotlaftd) Regulations 2006 (¥ zmendedl and A¢coltin8 and Rew)rting by Clwilies.. St&tement of Recommended Prtctice apPlible to Charities preparing their accowits in accordance with the Fitmncial Reporting Standard 4ppliGablc in the UK and Republic of treland ttf¢ctive frnm l January 2019. Objettlvu andAetivities The Church of Scotland is Trinitsri8n in doctrine. Refomed in tradition Ér Preswerian in polity. It exists to glorify God and to work f(r the advan¢emcnt of Christ's kttigdom thToughout the world. As a natiotjai church, it acknowledges A distinotiv¢ c] and duty to bling the ordinat]ces of rcligion to thc p¢opl¢ in ¢very parish of ScotlatNI through a territOTial ministry. Iz COuopu*es with other chuhe$ in various ecumenic41 bodies in Scotland and beyo The tore vision of St Cuthbert's is to live out the Gospel of Jesus Christ at the heart of our ¢ity ,6 people in the West End of Edinburgh. sh8ring God'$ love, offering a home to friend% ond strat]gers alike. &nd providing & hub to discern the vision of G(yJ. Worship & WFthess operates from the St Cuthbcrt's manst on Chester Street. Located close to the c.4Lkrch, this cnabl¢s him to lead all the regular worship and wilne&s to the various groupitigs who engag¢ with Si Cuthbert's and &te parl of our extend¢d fally. It also Iccates him It the heart of the mission hub. The Milllster c¢l¢brat¢s Holy Communton on the fll3t Sunday of the month at 9.308 in Ihe Memorial Chapel. And re8uIAr mDming worshtp is held at 10.30am in the sanctuw. Holy Communion is celebrated once A month during the 10.30am service. with four of these 0¢¢8sions annually being A full, formal seTViCC. Communion is aIso offered &fier the service 3¢cond Sunday of the month. SC010592 Pa8e 2
THE PARISH CBURCH OF ST CUT14JERT TRUSTEES>ANNUAL REPORT FORI'HL YEAR EM>ED 31 DECEMBER 2024 Objectives and A¢tivfitiu (continued) Worshlp & (ntInuedj Moming serviees &re both inpersoll and live-streamed St Cuthbert'8 also h&$ a well m4ititsin¢d aud poPlar website, a very widely acc$edFaCebQ0k pag¢, anda Thvitter Ull Abi-monthly ¢huTckk magazine is pmducgd and sent to ail nLembers. In addition to norni&l 8erv2¢4 the foUow&Dgwere held in 2024.. We hosted a combitwd service with our fri¢nits at St Joi)n's Episcopal Churdj 4nd the Edinbwgh New Town Chwth on the first sutsy of L¢nE 18th FebDJary. The otjnualseryiee forthe Societ). of Friends of the Parish Church of St Cuthbertwas celebrated co 29 Sept¢tnber, Vlith the th¢ School of Divinity. as vi5itillg preacher. A Remembronce Sunday service w&g hell at wbich wreaths wue18id by the ¢on8re8ation alld 7rh Scots BattsiiotL We h05t¢d the Friulds of StAndrew's Jerwalem and Tiberiw serrfice on 30 November. The ministcr recorded the Americall C8Jl setvi¢¢ glong with The US Consul and Loid ProvogL The Minister l¢1 the dedication ofthe City's new Nativity 5¢ene sitU8ted otL the 0d ory the first Sunday of AdvenL The minister conducted OannUa[NIne Lessons and Carols service on 22 December, at whi¢ we were joitied by the choir of Greyfri8n. r¢adffl5 repK$tills Steps to Hop¢ and the Ukr¥Jri Soul Space tth8 place on th¢ fir3t Wednesday of ¢a¢h mtsrtth and wftrtinues to attract healthy nTTh- bers from St Cuthbert's. otbtr c4urehes, and people from the wideT community. Space seeks to provide a sacred Bpa¢e in the heart of thc city" a space to explore, to rellecl to pray, and a S¢¢ peace &nd stil]n&%s. The sanctuary h&s v¥iows reflecttve inStlatIOnS the aim is to provide atmosphere encowages reflection on God, faith and life. a space where God will spe a context for pwer. The 202¥5 season features the tIe of 'a Season of Pr8y¢r'. ThuT3day Ev¢Dio8 Bible F¢llowship c4ntinued into its fifth year and provide8 8 r¢laxing way of discussing s1p and the rel¢vane¢ to today's situatiofy wlyle enjoying fellowshxp thrDugh the peaks and troughs of lif¢. meetitigs are held on 200m. Aprayer circle off5 Player for people and sitts2tiotss of need wlLich are itrtitnited tn confidence to the members of the circle. SC010592 Page 3
THE PARfsR CllURCH OF ST CIJTHBERT TRI'STEES. ANNL'AL REPORT FOR THE YEAR ENDED 31 DECEiW3ZR 2024 Objective8 and Activities (continued) FYorsAip & Jlqthass (coNliMued) St Cuthbert's brings a real tBngibl¢ expression of variety 2nd reveren¢e to ail aspects of wotshtp. We re2ch out throu8lL matty di)ferent mearungfvi christi ways to members and nOnmemberS across the commullty. We hre fn'endly, haspitable. 5UPP)rtive and inviting in atl we do. We are ready and open to new w&ys of corLwting with those around us, through OUT fimi base of committed members. The Minister conttllues to bc a chaplain to our durity partner Steps to Hope. McCra¢'s Battalion Trust and Edinbsh Trades Convenery. of the wotship experiellce at St CuthbertS, notably tt the 10.30arrt service. Mr ontinues to be all iospiration as Ditt£tor of msiC and OrganisL Vtsiting organ- ists are frequently invittsl tD play at the 10.308m Se1¢t, and 8t other times. Along with the input of an accomplished choir. we are abl¢ to wntinue to develop ow praise and worship al have ex- celled in liv&streaming music. The Tue&l&y coffee momillgs belped to kcep many people ift touch with thc St CuthlKrt's thurch faroily. Our monthly Sattwday coffee mornitWi which h&ve prov¢d Yery p)pular. also GOIltinued. SCOIQS92 ge4
THE PARISH CHURCH OF ST C[BERT TRUSTEES?ANNUAL RIPORT FOR THE YEAR ENDED 31 DECEMMKR 2024 A¢bievément and Perfomance opotrtted P2Storyl knistani on a one-year contract in 2023, om¢ ti> the end ot her time in the role was appoiated on I i th November alld Gharg¢d wi taking fonvard recOMend4tIOlls from Robertson forthe long-temi ¢motional 511PPOrt of the congregation. Throughout the year, St Cuthbert's h05ted ttse following evthts." During Easterttde we welcomed Sa0j Fitst, who rettuned with theit I[18t10 Ifmdows on the Resurrtction. Th15 rctlectiye ert piec¢ brought in mally Visitor5 and was an exampl¢ of ¢)ur con- tinuing re410AshiP with Sanctuary FiTSt. Our Oasis quiz nighi ill aid of Freth Sta¢ held in November. saw more than a do1 teams enjoy a clmllenging quiz. Guests We weleomed with soup and sandwithes before the quiz arxl participated iu A fi, ¢omp¢titiV2 evetting. Ln addition, wt held Dur community carol servic4 these eombined ev¢nts gathered io £841 to gssist Fresh Stsrt iti the valuable work they undenake. Cbnstm&q wft serdi¢e for the Earty Learni Centre ai W(erHa11Cs wa5 WCII supported. We once again welcomed SPLFOX for the Chri5tsn&3 c4rol servic4 i2) wluch the miDiSter took parL PqTlnershlp ThlrdPurtles St Cuthbert's aLso plays a key part in supporting the homeldss, working with the ch8Tity Step to Hope. Every Sunday aad Monday evening, we welcome our homeless guests, who ar¢ serv¢d a hot eal in the church. The St Cuthbert's volunteers who help on thue evening& are supported bypupds from vwious lo¢al sthools, who participate in the Duke of Edinbu".gh Award scheme. This youth involvement with the l&fe of the church ha5 becll nude possible by the Minister's work buildiu8 re1lonSIll'ps with Several I[al schools. Ooe such school the thch supports is the Ukrainian St Margaret's Saturday Scbool, of which tsur Minister was Cbair. As well as providiDgcla3sroom spsce when ttkeiT usu81 honk of George Hwiot's School is wiavailable, in (ktr)btr we hosted 8n exhibition by the children, &8 part of the bdinbwgh 900 Celebrations. SC010592 Page S
TIIE PARISH CItURCH OF ST cirrHBERT TRUSTEESYANNUAL REPORT FOR THE YEAR E[DID 31 DECEMBER 2024 Achievement and Performance (contiuued) Partnershw w&h ThlrdP&rll The church continu¢d to support UkTaine by hosting the Ukrainian Spidet3 0Up. whert nets are m8nufactured for field hospitals and temporary sheltet3 for the 028ny displaced people in Uknaille. St Cuthbert's is one of four5i1¢5 Edinburgh that nwiufacture these camoufiage nets. And hundreds of n¢ts have l*en mad¢ so f. Several nationalities manufacture tbese nets under Lfthiwan leadershtp and fftlleh fellow$hip is ¢njoy¢d by 411. The Soctety of Friends of the Parish Churrh of St Cuthbert m8kes an on80ing contribution by keep ing in touch with both ¥Dembers and adherents h0 have a special intetest in the mission ond devel- opmettL4 ai St Cuthbert's. It raists fuu&% for $ClaI projects. The congregational roll at 31 December 2024 was 207, compared to 214 in 2023. During th¢ y¢ar we WelMed hyo new members by Resolution of the KI SessioA In 2024 we bad 7 deaths and two members left by certificate of transference. There were 3 Baptisms {aJl adults) and I wedthn8. BecaSe of our city centre locotion and the attraction of the historic building, & rnonthiy footfall w¢ll irt excess of 80,000 per month was rOrded by City of Edinbw¥h Countil. This mlkes St Cuthbert's the busiest of the Edinbur) World Heritsge Burial Site$. St Cuthbert's. with a5eatingwa¢ity of 750, 2nd its key, easily accessed locatio is apopulftrchoice of Yenue for Community s¢rviee4 school conrtS. business community service5, clwiry events, choral arid Orchestr concejts. mlea[ competitions, m¢etings ofail kind$. We seek to provide a warni w¢lcome alld hospitality. SC010592 Page 6
THE PAIUSH CRiYRCH OF ST CUTHBKRT TRUSTEES)ANf4UAL REpoIcr FOR THE YEAR ENDED 31 DECEMBER 2024 Aehievemeut and Performance (contiDued) Together Tru The TDtstees of Edinbu1 City Centre CtLurch (To¥etherTtust) took the (krision on 22nd October 2023 that the T$t should be wound up. AIthou8h no legal relationship uow exists between the three con8regatiOllS, a covenarjt of friendship azEd co-OFeration that pre42tes the Together Trust itiu exists, and the Congregatio continue to enjoy & good relationship. Présb8ryPzOmIOT Churth Unlo InApril 2023. EdinburghArtd WestLothiPresbYtery sd a MissionPlan thatinvolved the union of variow congregatiow aeross Edinburgh and West LottuaL Under plan, the Parish Churth of St Cuthbert and Greyfriars Kirk Bre to unite. The union ha5 not proEres3¢d as much &% hoped, during 2024. tnterim Moder&tors from Ix)th ¢on- gregations now take part in meetings ofthe workinggroup, which also ittcludes repenEativeS froJD each chw¢h. The Congregations of both St Cuthbert's and GyfriTs enjoyed ari¢h aud successfijl festive seaso with shared worship and featiuing tsigh on the &g¢nd8. More events 8re be8 pLanneQ 8itned at biinging together th¢ two kirk SG5sions and the wider congregaTior4 to begin to answer the Trore Challetiging que3ttOns that will appear as the w)ioD tnove5 fotyar St Cuthbert's will produce A fitMnciaI pl that wi]1 foree8St the expenses and itw)me for th¢ up- coming fumncial period. This will allow us to work It reduc&ng the deficit to reduce fixed costs. As we approAch ullio the joint ventore of Greyfriars St Cuthbert's en¢ompasses Yarious 5iwilar activtties and it is viral that we ensure finaocial 8tabil(ty for the ture, particularly as we possess large buildi085 with bigh maintenance costs. SC010592 Page 7
THE PARISH CHURCH OF ST CtrrHBERT TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Financial Review Ov¢rall our income fell from £288.580 to £198.075. The majority of this decrease in income coming a reduction in receipts from ECCCT on the dis501ution of that charity which w&s £120k shown within other income in 2023 and only £l1.483 in 2024 offs¢t by an improvement in income from the use of the premises. Our income from the use of premises was £79,704 (2023: £58,740). Offerings before gift aid was £52,334 (2023: £50.437). Tax recovered from Gift Aid giving was £1 1,110 (2023.. £12.838) which was available for GeneraI Purposes. Dividend Income from Invesknents increased from £16,803 to £18,539 of 4]ICh £2,780 (2023: £3.448) was available for General Purposes. Our overall expenditur¢ was £387.543 compared to £ 294.466 in 2023. Unrestricted expenditure increased from £225,473 in 2023 to £295,364 in 2024 with considerable additional fabric repairs and maintenance work and other building costs as well &$ an increase in ow giving to grow costs. Investment Policy and Performance It is the policy of St Cuthbert's to hold all financial invesknents with the Church of Scotland Investors TrusL believing that this trust is best placed to provide financial investment at an appropriate level of risk. These investments have arisen as a result of generous donations and legacies received over a number of years. In part these donations and legacies have been used to facilitate a variety of onevoff projects which might not otherwise have been affordable. The balance bas been invested to create a flow of income which allows St Cuthbert's to operate at a higher level of charitable activity than would otherwise be possible. Some restricted funds are held for purposes which will benefit the church in future years and these have been invested until circumstances arise where these funds can be used. Examples include fidS for the maintenance of the external fabric of ihe building and for the maintenance of the church bells. St Cuthbert's also holds one investment property (a residential flat) which was given to the church as a gift and which is rented out through a property agent. All investments are reviewed regularly. SCOIO592 Page 8
THE PARISH CH[cH OFST CUTHBERT TRUsTEES,ATrluAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Risk Management Tree principaI risks are identified: TEEe a8e profile of the congrer4ti0n is bdattcedmore tOW[ts older people might be hoped. As a rnsuit tbere h&% been some drop COngatiO numbers. Modern ¢ommunicotions tecluu'qu 8re tnaking St Cuthitrt's a¢tiviues available to a very wide range of people. It is anucipated that Encre&8ing awareness will rEsknIt iD more people engagltig with St Cuthbtrt's and see the age profile ra%haped. It is s0 expect that activities promoted by the tninisterwill gcnerate increasednumb¢ of people 2Dvolved with the lifr of the congregation. The undertying deficit remai a cause of concern. There is 8 need for urgent busiDes3 plenning, in¢luding the considerafion commercial bu5iDess oppOnItIeS, to address this. St Cuthbert's is priviI¢ged to 0rate fro a m&gnifi¢ent church building which Rs a significsnt attraciton to the people of Edinburgh alld beyond. The building is insured in line with Church of Scotland policy, butshouid ojjy serious damage occur. th's would represenr a 5ubstgntial itsk for the churelL Reserves Policy The charity trustees have eollsidered the ruerv&% required and have taken into ecuunt their Cent d future liabilities. At the year end, the Church held generAi unrestricted funds, excluding tangible fixed assets and iavestLnent properties, of £12.849 {2023.' £169,173). D¢sigrJated fid3 beld sre £264,549. tricted fid$, excluding t&ELgible fued ets and inyesttnem properties, amounted to £231.925 (2023.. £257,071). The purposu of the ful are out]illed in note 15 of the a¢eounts. The policy is to tttove progrcssively towards a balattced budget with unrestiicted reservas equating to at least a year of unrestri¢red expenditure. Structure, Governanee and Management The congregation is a registered clwity, numE£r SC010592 and is adm3nistered in accordjnce with the tem)s of the Deal of COnstilOn (Uniw Forni) is subje¢t to the Aets and Regulatiom of the Geaeral Assembly of tbe ChtlL of ScotLand. Reerllltm& t7ndAppoinbntnt of Trusttes Mefftbers of the Kirk Scssion who arc able to ftttend meetin85 Are the Clwity Trustees. The Kirk Session mernbets are elderg of the church &udare &ppoinled from those member5 of the churd) who are ¢onsidered to have the approprigte gifts. skills and commithienL The minister, who IJ aIso A mernb2r ofthe Kirk Session, is ele¢ted by the cowtion ad indu¢t¢d by Presbytery. SC010592 Page 9
THE PARISH CHURCH OF ST CUTHBEI TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, Gov¢rn41W¢ 4ndMonagement (cont) OrgoA£FalionalStrMd4re The Kirk S¢ssion As chaired by the Minister and meets at least ten times a y¢ar. The minister is supported by a management team eonsisting of Session ClerL Treasuter and Cbwch hknageT Io review and plan wotk b¢ing undertaken on lthif of th¢ Kirk S¢sSiOD. Reference gnd Administrative Infomatio RegiFlered ndiiie.. St Cuthkrts Parish Chureh of stIalld, Editibur8h Known af.. The Parish Church of St Cuthbert Chority SC010592 Inde eftdenr Eyamlner Hollis Accounting Limited, Chartered Accountants 3 Melville Crescent Edinburgh EH3 7HW B4hke Royal Bank of Scotland 142-144 Princes Street EdinbLuBh EH2 4EQ SCOIO592 P*ge 10
THE PARISH CHURCH OF ST CUTHBERT TRLSTEES, ANYUALREPORT FOR THE YEAR ENDED 31 DECEMBER2024 Trnste¢s' R&8pollsibilities ill Relation to the FÉDaneial Statements The charRty ljwtees are respowible for PTeP8fin8 a ttusttts. annuaj report and financial statements in accordance with applicxble 8 and United Kud0 Accowiting Standarts Iunited Kingdom Getierally Accepted Accounting Pfactice). The law applicable to ¢harities itt Scotland r¢quI1 the charity trustees to prepare financiaI statenients for each year whi¢lJ show a tsue and fair view of dEe stste of affairs of the charity aud of tt incoming resourceJ and Application of resourc¢s, Clf the tharity forthat p•i¢xi. pr¢parin8 the filexaI statements. th¢ tr1¢¥ are reqUid to.. select suifabl2 Jccountry policies gnd then apply them ¢oThsistt1y. observe th¢ method 8nd principles in the applicable Charities SORP,. Jn&ke judgements 8lld estitllates that are reasonable alld pNden4 stAtr whether applicable ac¢ountinBStandards attd statements of recommendedpractiee have been followed, subj¢ct to departures disclosed and explained ia the fiuerAo&I st8ternents' prepare the fin&nciai ststeneots on the going concern basis unles5 It is inapw>priate to pre- sume that the olwity will eontinue in operntioDal existen. IILe tr]tee& are responsible for keeping proper a¢wunting records which disclose with rwonable &CCTJracy at any time the fttmncial position of the charity and to ebLe them to ensure that the financial stateents compl). with tbe CEAritiu aod fnjstee tnvestment (Scotland) Act 2005 and the Charitie& Accounts ISGotiand) Regul&tiotL8 2006 (03 ameud¢d). TIKY are also resptrnsible for gafeguardllig the ossets of the charity and hence for takÈn8 rwonabje steps for the prevention alld detection of fraud atsd other irre]tieS. The tnteeS are responthle for the mainknallce and integrity of the ¢lwity and fillatal infomiation oa the ¢ongr¢wion's website. Legislation in tILe Unitrd Kingdom governing the preparntion and disserninatioa of fuwiciaj statemeuts llwy differ fro lelation iu othei jurisdiotions. Approved bv the Trnstees and signed on their Depute Se Clerk SC010592 Page 11
Iii Z X
uwu
*) 411111 2¥4£1'¥¥:
"1.1 5111
Ii%- Iii I 11 Il,. Y :ll
f4
u<<_<4<u< 2¥ x
11 xx
Na
p4 747 41 •t- 'Ipi 'IN iYp4 SE£JI
C> C> fry VT C i j 1211 jiill- 4, iiiiljjl
THE PAIUSH CHURCH OF ST CUTHBERT REPORT OF THE I1EPENDETr ExAMER TO THE TRUSTEFS FOR THE YEAR ENDED 31 DECEMBER 2024 I rert on the AccL)ullts of the Parish Church of St Cuthb¢rt for the Y etkded 31 Ik¢ember 2024, which are set out on pages 12 to 23. R¢8pe¢tive r¢sponsibilitieJ of tnutees ittd examiner The charity's trustees are reswinsible for the propaTation of the accounts ITL ftccordanc¢ with th¢ tern]s of the Charitie8 atsj Tntre Investmcnt (Scotland) Act 2005 aod the Charitl¢5 knounts (Scotland) Regulations 21XJ6 (as amend¢d). Th¢ ¢lJarity tneS coLsider that the AlIt requiremt of Regulation 10(1) (a) to (c) of the Ac- ounts Regulations does not apply. It is my responsibility to exarnine the accouDts as required un- d¢r section 44(1) (C) of tlle A¢1 al to state wheth¢r particular Matte l)ave Come to my attentio Basi8 of independent tX*miD¢r's ststement M}. examination is carried out in ttc¢ordance with Regulation I l of the Chariti¢S Accounts (Scot- Ignd) Regulations 2006 {&8 amended). An exaMItion includes a review of the aOUnting CordS k¢pt by the chatity and a compwison of the accouEtts pr¢scntal with those records. It aIso includ Consideration of any unusual items or disclosures in th¢ account& and sttks explanations froll) the trustees conc¢rning any su¢h mattcrs. The pmcthre5 Ulldw¢n do not provÈde all the evidere that would bc requircd in an audiL aod cowuently I do not express an tlt opinion on the view given by the accounts. Indepettdent examintr'i statemenl In the course of my examitiatiofy no matter bas come to my attention l. Ivhich gives m¢ reasonable cause to believe that in any Materi re5peet ihe requirements." to k¢¢p accoiiTltin8 records in 2ccord4nc¢ with Section 44(1) (a) of the 2005 Acl and Regulation 4 of the 2006 Accounts Regulations (as amended), and to prepare Counts which accozd with the accounting records and comply with Regulation 8 of the 21])6 Accounts Regulations (as amended) bav¢ not IXM mel or 2. to whAcl4 in my opinion. attention should be in order to enable a proper understand- ing of the accounts to be reached. Holtss AcLounting Limit Chartcrcd Accountants 3 Melville Crescent Edinburgh SC010592 Pai¢ 24