MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN CONGREGATION NUMBER: 311858 ScOlSH CHARITY NUMBER.. SC010643 FINANCIAL STATEMENTS FOR THE YEAR ENDED JI DECEMBER 2022
MIDSTOCKET PAIUSH CIIURCH OF SCOTLAND ABERDEEN coNrENrs P*ge Trusttts. report (including and thinistrAtive informati(m) Independent examiner's rert S¢8t¢m¢ of fu]ancial adivities inCoTpW1n8 income and e4xmditure xcount 10 Balane¢ sheet S¢atement of c flows 12 Notes and xcountin8 p)li¢ies 13-25
MIDST(KKET PARISH CHURCH OF SCOTLAND ABERDEEN TRusfEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their amiual report fInala1 sthtcm¢nts for the yw ¢ndd 31 tkcernb¢r 2022. Th¢ finan¢ial statements have been prepared in aCcOrdae with ihe accouniing polici&8 set out in Note I to the accounts and cornply with the General Assembly Regulo[L% for Congrewiotydl Finance. the Chariiies and Tn Investment (Scotland) Act 2(K)5, the Charities Aecounts {Scoiland) Regulations 2(m (as amended) and -Accounling aThl RetKTrrting by Charities.. Statemenl of Re¢omm¢ndd PracttLe applirable charilies preparing their a¢cowJts in accordance with the Financial Retorting Standard applicable in the UK and Republic of Ireland (FRS I2) (effective 31 January 2019)" Objtttives Ind #ctivi¢i The Church of Scot]aTMJ is Trinitsrian in d(Ktrine, refonneil in trlition 8t#1 Pr¢sbyttrian in lIty. It exists to glorify G(yJ and io work for the advancement of Christ's King(kn throU8kn the world. As a national Church. it acknowledges a distinctive call and duty to bring the orditwi¢es of religion to the Fople in every parish of Scoiland through a ierritorial ministy. It C4)- OFerdtes with oth¢r Chur¢h¢s in various ecumenical bodies in ScthlaThJ and Iwond. Midstocket PaTish Church of Scotlarf Aberdeen aims io w(shippin& wilnessin& Su1nable Christian con8re¥ation, faiihful to the gospel ofjesus Chris( and offetingavari¢ty ofopwTrrtw]ilitsthroh0 the parish and community for fellowship. prayer. spiritual development aThl shaTed aLtiviti¢5 fw p¥>le of all ages and background Our mission is- to involve and encou¢ m¢mbvs of a]1 a8es in a range of fonns of wotship to build a welcomin8. friendly and long-lcnn 5us¢ainJbl¢ worshippin8 eANnmunity Church to develop new outreach inilialiv&8 for all ages in ihe L¥)mmunity to ensure thai pastoral care is generously Biven to develop approa¢hes io inte8rale children. teenagers and young adults irfo the life of the ¢ongreg2tion to develop shared mission and mYal Tntnistry wilh other churches in the aTca to identify the spiritual gilLs of th¢ rncmber5 of the congregation and 10 8row the church using the talents of its members io improve the Communi110n pTh)ce beeen the Chu. its rnember5 and the community at larse to grow the active memttrship of the Church. particularly On¥S1 families aThJ adults in the 30-50 year age 8roiip to stren8then the role ofthe Churth as 4 c(Nnmynity fo¢$. Yesouree and support organisation The congregation meet for worship ai I0.3m. every Sunday. The majority ofthe congregalion is overthe age of 60 including a significant numtr aged over 80. Coftees and iAs ¥re served alkr worship each Sunday io encourage congregational fcllowghip and welcome newcom¢rs. (kn services are recor aTMI available for all to watsh via our website and Fa¢ebook page. Lontinuing a habit comm¢rK¢d durin8 the COVII>19 partdanic. our services 8150 be a¢¢¢51 via a lel¢plKTrne link for the benefit of those memb¢r5 of the congregation who are unable to attend and do nol use th¢ intsrnel. The Sacromem of Holy Communion is celebrned monthty and is open for thildrffl to parti¢ipa¢e in. Activities for YOW children 8Te wovide(L Services organi5ed by specialist gr(MW iluding ihe Guil¢ the w¢1p Group and the Overse&8 Committee foTm part of the church worship cal¢NJar. The Minis¢¢r 15 Chaplain at MilEnd Sch1 #rtAve]y involved in xtivities there.
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 1022 Objectiv¢s ctivitiu (continned) A wide range of groups exists withRn the life of thecon8regation and many (thersare a550ciatal with il through usingthe vari and flexibl¢ aMIodatI at the ChurcFL CIK)ir Chur¢h of Scotland Guild Men's Group Café Church on wttkday mornin8s or afternoLW W?loring a Chri5tiart over coffeeltea and seasonal snacks Guides RainiK>WS and BTownie5 Lent and Autumn Bread Cheae L¢1 held Sotwdays. the prrKeeds going to the OverseHs Committee to distribute Toddler5 Group Book Cjroup Various otherthurth and outsid¢ grow)s the Churth on a weekly (Y m¢mthty basis Aehlevements #md performa¢ The memt¢rship ol the church fell from 381 at the end of 2021 to 363 #t the el of 2022. During the year 4 new members w¢re 4dmitted whilst 22 members were rtrnoved- 14 thro d¢ 2 by Certificak and 6 otherwise. In early 2022. we buildinB back up following the lifting of the COVIt>19 restridions and Closure of ih¢ church buildin for IArg¢ paffs of the previoiL8 two years. Chjr refwbished and exiend¢d Sanctuary and Halls with new Garden l.ounBe are well us¢d by 4 range of grtsU which have Bradually returned following the COV11>19 pandemic. Several new initi8lives started after d¢velopmeni ofthe satUary and Halls was Mpleted in 2015 wtte up with outreach io the I7 comrnunity in mind 5u¢h as regular Music@Midstocket recitd& the Mids¢ock¢i Men's Group, a Book Group and a regular Café Church on weekdAy morning or Afterno. There is Breat demand by a wide ran of outside ¢(#nmunity gr(rt4 and city gro to hire our refurbished Halls and Garden Lounge. 'Ihe Sanctuary is in¢re4singly being recognised as being a very desirable venue for music concerts. reheaT5als and examinations. th the one han(L w¢ h#ve our own Musicu Midstocket inilialiv¢, whieh provides re¥ular rnusical events of a high caliEfe with the con¢¢rts raising si8nific8ni for a variety of chItIes. On the other hand. various external musical organisation5 are finding the Swthary to be a high quality venue with go(Kl a¢¢essibility for musicians and allenCeS and this provide5 us with rwtsl iD¢ome. As well &s a Eongstablished local orth¢strx Sancluary for rehearsals And concerts throughout the yw. w¢ have now bectmne the regulaT venue for rel*rsals Coer for a thriving youth mu5i¢al ensemble 4nd a rnal¢ voice b4rber5hop choir. W¢ held a very successful charity fundraising conc¢rt in th¢ Sanctuary and a Community ChristmAs Carol Service ort the Sunday evenin8 before Christm&8. These were well attended in¢ludin8 a good number of non-church members. A projed b¢gun b¢for¢ the pandernic to develop the Church gardens ¢(1]n¢s. Initially to be called a Bible Garden. the space around the Church is now bein8 devel(4xd as a general garden and recreational area for the community and will incorporate a Bible TT8iI. The pupils and teachers of Mile Sch(x)I K1 I(] w)liti¢i8ns hAve shown A keen interest in the project. Midstocket Church participateA in chrilan Aid w¢ek rnising fimds throu a dedicatoj Café Church ev¢nL ms]almIdStoCket reci, a Bread and Chees¢ Lunch and participation on the Aberdeen Kilalk. We also held various very succcssful fundraising events to help Ukrainian refu8ecs. Midstocket Church supports the Work of l(y¢al ¢h8rity Instant Neighbour through fund Taising and [v[dingT¢81&r donabons fortheir food bank. We have a¢lose parth¢rship with Maggie'g Abcrdeen and were involved wtth i1) in various raising ventsJr&s during the ye4r. Ov¢r5ea% we support a number of charities and sponsor a child in Dr Grth8m's Home& Kaiimpong and we have a partsi¢r5hip with Nkolokoti ChuTch in Malawi. There has been a decline in the number of children attendlljg church in re(znt years. Activities are provid during the service for theyoung Childr that do attend tkningthe year, we rdn 5evernl Family Fun Days on a Saturday which were well 5UPPQrt by families with y(xmg children from the kul comunty. The Chureh hag a website which c4n be accessed al i%.tniJ511JLkLliliurch.i)r .uk and also a Faccbwk page whert detsils of all Imjr events call I fi)und. We also pr(MJuce a quartLYly Magazirff with news and rep)rts on events past ad pttsent.
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Acbievement$ performattte (eotl•#ed) In implement of the Presbytery Plan, preparatio$ wwe ongoing througknt th¢ year for the Union of midst(et Church with Rubiglaw, Queen's cro and Holbum Wast ChLwches. The Union will tske place in mid-2023. Several joint gervices were held throughout the year. The elders of the four churches have been working together and there have been variou5 OPPOrtuniiies for Ihe CODgregioDS lo gel to know eAL'h other through coffee mornings co¢rtS and other shared events. In ditIOn, these four churches are wo18 tog¢ther in a Pati%h Grouping with FenyhilL South HollM]rn and St. Mark's Churehes. FlnDcll review The Church's wincipal s(NJrce of unrestriCtj general fund income. being offerings. increased from £66.684 in 2021 to £70,362 in 2022. an Incre of 5.5201•. The Churth of National Givin8 Ihy fundraiser resulted in additional donations of £16,101 ing received in 2ff21. a 1C off funthaising initiative. Gift aid on offerings reflects a decrease from £19,323 in 2021 to £16.428 in 2022, which is bas on the annual claim of the gift aid ceiVable on offeTings, which includeil National Giving Day donlOnS in 2021. The numtrs of Gift Aid th)n(ws amixmted th 121 in 2022 compa1 io 113 in 2021. Ordinary Expendiiure exceeded (trdinary Incorne by £1 1.795 in 2022 comp8rryJ to £7.435 in 2021. The accounts also flect a loss in the vaiue of InveMents for the year of £8218 wrnp8red Io 8 8ain of £9.167 in 2021. abric repairs and maintcnance c¢)ntinue to 8 significant cost for thc chur¢h. with ess¢nttal repairs arising in addition 10 planncd maintenance. The Fabric Fund is wsed th coverthe costs of repairs and Ma]nn8nee. including the essential install8lion of a safety railing al(g the pathw4y to the ¢hurch halls entrance. The church 15 heat1 by g&% with th¢ contrxts Ing negotiat ¢ollethiveiy by the Thurch of Scotland. Du¢ bein8 on a variabl¢ rate contrJct. th¢ unit price of 8Bs has incrtascd signifEiWtly during 2022. with excessivc bills arising, despite consumption bcing managed to minimal levels. In May 2022. the Chur¢h of Scoiland Thegoti the Midsiocket Parish Lhurch ga5 contr¢ at the rcqu¢st of Midstocket Parish Church. Whil¢ the unhi Price is now on a fixed rnle b4Si8. it remains higher than th¢ fixryj th41 other churches have ten given in their 2020- 2024 fixed rate contracL As a Tesult of th¢s¢ higher gas costs. d io the Midst(xket Parish church contrnct not bcing includcd in ¢ontrAI seheme in error, the trusttts have dccidoj that the credilor 8rising for the Church of Scotland levy on the sale of the chUh hall at No 35 Midstocket Road. be rele&8oJ to the Fabric Fund. xTr levy fiJThJs can be r¢wign io coverthe excessive costs of g&% thai will continue to be tncurred until the end of the ¢urretX 8as coniract peTiod in M¥r¢h 2024. (Mh¥r expendibjreand rnIng¢O5ts are Iwg¢ty in linewiththe budget which is on the prioryearcosts which arc rclotiv¢ly lixed Y on year. Investm¢n¢ poly ptrforni• In¥estmenl3 are held with th¢ Church of ScotiaTrJ InvestOTS Tn (Gro Fund 8nd Ir]come FuThJ), Alliance Trusl and Murray Income Trust. Th¢ inV¢5tsrtts were made many years ago and no th8¢ h&% bea] me to the investment &follO duriftg the year. The Church of Scoilynd Inv¢51or5 Trt prmdes three funds for inYe51ors which offer a simple and economical medium for the inve5tmcnt of moni¢5. The chartty h&s decided to invesl in two of the fuThJs: the Growth FuThJ and the Income Fund. The Growth Fund is lar8ely equity b&8cd and is illten for kmg-t¢rni inv¢51rnent. The fimd is opuaJ on a unitised basis and aims to provide w)ital growth. The Incomc Fund is intended for medium-t¢nn investment and aims to provide immediatc high incom¢ with funds invested edOMInantIY in fixed-intelest securilics OIKI Oated on & unitised basis. Units in both funds can bc purth&%d or sold monthly. Investments held at 31 December 2Q22 a mark¢t value of£75.175. Divida]d8 on these inve51ments provided additional income of £1.949 (2021- £1.627) during th¢ year.
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Risk m•nAgemeMI The Trustees have a&8essed the rnajOT risks to which the dwity is eX>s¢4 in part[lar those relating to finan¢e4 and have put plans in place to mitigate exposure io the Maj risk5. With an ageing congregation both tiationalty and IIKa]ly withintheCIMwch of So)tlarf the abilty to eontinue toratse suificient funds from available resourc in order to meet both l(vl need8 and to contribC to the overall WO of the national Church, is important. ID line with guidanee from the Lhurch of Scotl#n¢ the congregation will again in 2023 be made fully aware of the importance of St¢wJr(Lthip and the neeth of thecharity. Inaddltl¢. Ihe Church will continue make its building5available to other gTOUPS both &8 a forn) of outreach and as a source of raising fund& Preparationy aTe oogoing for the Union of midk Cburcb with Rubi51aw. Queen's Cross and Holburn West ChUbeS. The Union will take pl in mid-2023. aThJ the work associ*al with this is currently b¢in8 by the four Kirk Sessions. Non fmancial risks w¢h &8 frt preyention. health and 5afdy and focd hygiene are m8naged ty SurIng aLYre4litaiion is up to date. having appTopria¢¢ N)li¢1 and wocthre5 in place and awarujess ITaining for 411 relevgnt users of the buildings. Reserves polky The Tnte¢S bve comideroj the TTy¢S WUiTEd 8nd have tsken into and fithure liabilitieg. It is ThJ5ttts' policy to hold rcscrv&8 of approximately ninc months eXltUre tludIng d¢signatrd fimds. Ai th¢ yw end the Church held unrestrict¢d funds of aN)roximately £133.507 which is cwrently in cxc¢5s of twelve months expenditur¢. The Chur¢h also held £276,351 of restrided fimds which have beth ryovided for the pur1¢$ specified in Note 14. Stru¢turt? governao¢e a•d MIneMeM1 The con8re8ation is 8 registered ¢hwity. nwnber SCO1{3 and thinistered in acCOTd wilh the tenns of the i)¢ed of Consiitution (Unitary Form) and 15 subject to the Acts and R¢gul4ti(rt% of the GeneTal Assembly of the Lhur¢h of S¢otlgnd. Memttrs of the Kirk Session are the charity trwt¢¢s. The Kirk Se3Si(m mcmtws are the elders of the Church and are chosen from those Mem1 of the Church who are nsidc[ed to have the appropriate gifts and skill& The minister, who is a mery)ber of the KI S¢ssion. is elected by the congregation and inducied by th¢ Prthytery. The Uni¢ary Conslitution provides for the TatiOn of the Kirk Session's business by Vario committ¢e8 to which members of the Kirk sl0n and th church m¢mbcr5 may be appointed. Th¢re arc committccs to cover Trinartec. Property. Over5¢aS, Outreach, Worship and Christian l.'ducalioty Safeguarding and S1&] Artivities and each is dcl¢gatd ¢ertain restmynsibilithes by the Kirk Se&sion. The Kirk S¢55ion wdly has seven me¢tin8s N year and the bulk of each meeting involves h¢arin8 rcports from the conveners of th¢ committees. In 2022, were seven meetings of the Kirk Session held rcmotcly on Zoom. All other decision making Y¢ring w&8 done clTnICallY. Most of the committ¢¢5 w¢re able to meel remot¢ty on ZIK)m wh¢n required.
MXDST(KKET PAIUSH CHURCH OF SCOTLAND ABERDEEN TRusfEES' REPORT (coNfINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Rekrence and admimiilrative imfonDtion Charity tt8me: Midst(Kket Parish Church of Scotland Ab¢rd¢¢D Congregation number. 311858 Charity registration numtr. SC010643 Oper*iotV41 addr¢%8: mid( Parish Church Ardeen AB5 5HF Trusl I njstees who served 5iTKe l January 2022 w(Ye: Minister Sesston Clerk FW() Treasurer Church Tre&surer Inilip¥nilL'lIt F.Idmin¢r h41rtered Acc4xmknt. Meston Reid & , 12 Carden Place, Aberdeen, ABIO IIJR HankLr% Bank of Scotland plc. (,5 CS Branth. 39 Albyn Pla¢< Abth. ABIO IYN
MIDSTIXKET PAIUSH CHURCH OF SCOTIAND ABERDEEN TRusfEES' REPORT {coNfiNuED) FOR THE YEAR E]¥DED 31 DECEMBER 2022 Trustees. respomsibilities ill relation ts the fiuDci&l stltemuts The ciwity tnteeS are rtsp)nsible f(Y weparing a Tn. annu&l rewt and finwKiai 5tstements in aOrdance with applicable law United Accounting Stsndards (Unr11 King(k)m Gojaalty Aeetyt&l Aeeounting Pradi¢e). The law applic8ble to chariti&8 in Scotland requires the chaTity trustee5 to prqJ8re financial statements for e¢h yw whi¢h show a tnje and fair view of the slate of affairs of the charity and of the incoming resouw alld appli¢stion of resour¢¢& of the charity for that perio(L In preparing the financial seMents. the TnLsiees are wuired to: select Suitable xcounting li¢l¢S and then aFply th¢m ls1¢tly. observe the method principles in the anllicable Thartlies SORP. make judgements and tImat¢S that are reanAble and pn¥kni' stote w]Ykn applicable accoting #armlards and statements of rec(rnended pra¢tic¢ have been followed. subj#t to any departurn discl{ed in the finon¢iAI #atunents: prepare the fin8netal sthtements on the goin8 cThK¢rn b19 unle55 it 15 inappnwa¢e to presume tha¢ the ¢harity will ¢onttnue in orrtrntiona] exislence. The Trustets are responsible for kttpin8 propu accounting records which di1¢ with re&qonable aecuracy at any time ihe financial w51tion of the chartty and enable them to ertsure thai ihc financial staicrncnts cornply with th¢ ChArili¢s and Trustee Inv¢5tm¢nt (S¢ollar) A¢t 2W5 and the Charities Acc(Amts (Scotland) Rcgu]ion5 2(K)6 (&4 amended). They ore also r¢sp)nsibl¢ for safeguardin8 ihe lssets of the charity and hence for taking re4soDabl¢ st5 for th¢ KK¢venli(M) and deltIOn of fraud and uther irreBul8rittes. Ihe Trustees are t$nsible for the maintenance and inlegrity of charity and financial infomiotion on the congregation's website. Legislation in the United Kin8dom goveming thc w¢parati¢m diss¢minAtion of financial statements May dithr from le8islation in other jurisdictions. ADpr4)fvL.d by tlie 'lru%leL% Liiid signed th¢ir bchalf. SL>&iUII LILI"I. Date.. li +aqJ
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN INDEPEM)ENT EXAMINER'S REPORT TO THE TRUSTELS OF MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN FOR THE YEAR ENDED 31 DECEMBER 2022 I re[ on the acL4yunts of the chariry forthe Ywendl 31 DlbeT 2022 whith gre set out on pages 10 to 25. Respeetive responsibilities of T$15 and imd¢p¢ndent eumiDer lThe charity's tsustees are responsible for the preparation of the ace4)unts in acckn with the ternis of the Charities and Trustee InveStMt (Scotland) Act 2005 and th¢ Chariti¢s A¢¢iMmts (Sertland) Regulotion$ 2006 (&8 amended). The Tru51ee5 ¢on5ider that the audit Tequlrtint ofRe8ulat1L I] ) {a) to (c) of the Acc(mts Regu]atio]]s does not apply. It is my rwponsibility to examine the #ceounts &$ required under section 44(1) (c) of the Ad and to s14t¢ whether parttcular mattcr5 hav¢ com¢ to my attention. Iknsis of iDdepe•deDI ¢SamiDer's gl•temeat My examination is out in acwrdance with Re8ulation I l of the awitie5 ACcnts (Scotland) Regulion5 21W6 (&$ amended). An examination iTKlud¢5 8 review of the accoun11 records kept by th¢ charity 8nd a comparison of the &cunts presented with those rwds. 1¢ also Inc]leS co51derati of any uThJsual item5 or di%lo$ures in the aOUnt5. and seckg explanations from th¢ Tru5t¢¢5 collc¢rnLII8 any such matters. The wocJures undcrtaken do nol provide all the evidenee thal would required in a11( and cowuentty I do not expre&8 an a11 (•inion thc View givth by th¢ a¢wunts. Independent ex4mi4er'$ 3ta¢¢Thewl There are no rther matters which have come to my allention which gives me reasonable cause to believe thai any mat¢rial r¢4Kth of the requirernents.. to keep accountin8 records in accor with tIon 44(1) (o) of the 2(KlS Act and Regulation 4 of the 2(Ki6 A¢¢ounts Regul104 ( amath). and to pr¢pare4¢counts whi¢h a¢eordwith the xcThmtin8Tecords and Cornptywith Regulation 8 of the2006 Accounts Regul1(8 (as omenw) h4V¢ Ik)t been met. or to whid4 in my opinion. attention should be thawn in der th enable a woper Undlg of the ¥e¢ount# to be trached. Mc51on Reid & Co 12 Carden Pl4c¢ AberdKn ABIO IUR 2023 MESTON REID&CO
BALANCE SHEET AS AT 31 DECEMLIER 2022 Tot81 2022 Total 2021 Note Fixrd tts. Tangible assets Invesknents 471.610 471.610 io Total Ilxed assets Curr¢D¢ 3¢. Debtors Cash at bank and on hd li 18.680 34.863 To¢1 eurrent ssets 351.868 385.702 Ll•bili¢les: Cr¢dilors due within on¢ y¢gr 12 Nel ¢urren¢ ss¢ts Totsl assets le$8 crret Ilbllltks 881,468 )1.481 Creditors afttt more ihan one year Net ssets The fvnds of the charlty: l.ndowment fEmds Restricted funds Unrcsiricted fund5 14 14 14 471,610 276,351 471.610 277.550 Totsl ¢hrlty furtds The 4¢counts were approved by the Tn(ge5 aThJ SiJ on their bEhalf by: eA Sie MTS Alison McLeod S10 Clerk Mrs Karen SMvart Tresur¢r Date. | l Jogs oo]3
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN STATEMENT OF CASH FLOWS FOR THE YEAR KNDED 31 DECEMBER 21Ill Tolal 2022 Tot1 2021 Not¢ Net eash used ID optr•ting ¢¢ivitieg 17 Cask flows from iDvestimg adivitKs Interest and dividends Purch of fixed assets Proceeds from sale of proF¢rty 3.867 1,994 Net e8sh provided by investing A¢tiviti Cash flowj from fiTrap¢ing 4¢tiviths Advanced Repaymenl of iKJrrowi Ntt eash provM1 by fiTra•¢i1 activiti Changt In ¢ayh and ¢•Jh ¢qwiv•kDts ill th¢ ytsr (17.051} (25.843) Cash and equivalents brght fLThard Cyh ttd esh eq•lvileTrts crrled forw*rd 12
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AND ACCOUNTING POLICIES FOR THE YIAR ENDED 31 DECEMBER 2022 Ae¢o•tttkng 11¢& The principal accounting p)liei4 whieh have aN>lied ConsistalY in the cunrnt and PredIng year in dealing with item5 which aTe considered material to the aCcCrtm are set ow below. {a) ¢onv¢n¢ion The finan¢1 have been pryTed in xcordance with the cherity's constitution. the Charities and Tn Investment (Scotland) 2005. the Charities Accounts (sC(lal) RegUllOnS 2006 l&s amended) and-A¢counting and RertIng by Lhorities.. Ststement of ROrnMended Practice applicable to charities Fyewing their aoUnt$ in accordance with the Financial R¢p(rting Standard applicable in thc UK and Republic of Ireland IFRS 102> {cfftIve l January 2019)-. The charity is a Public Bmefrt EIlty Ls defined by FRS 102. The financial slatemenis are preparvj in sterling, which is the funrtional of th¢ ¢harity. Monetary in thvse financial stathents are rounded to the neare £. The financial slatements have been w¢par urHk¥ the hists)rical CO conv¢ntion. The principal accounting polieies adoptcd are set out below. Ib) Goln8 eoneerD At the time of approvin8 the financial statements, Ihe Twstees have a reasonable expeclation thai thc charity has adequale re%ources to crntinue in qKrational existence for th¢ for¢5eeablc fidure. the TnLSte&8 continue to ado the going ¢on£¢rn basis of accounting in prep¥rin8 the fin2ClaI sements. (c) In¢om¢ Income 15 recognised when t charity h&8 entiilement lo the fuTh15, any pcrforniartc¢ condilions attached to the item{sl of inwmc havo IK¢n m¢t. it is {ble thai ihe incorne will receivej and the amount mured reliably. Donated profesional Services and donabj facilities are recognised as income when the chErity h&$ control over the item, any conditivn5 asx)Liaied with the (knatoj ilem have been rn¢t, the reccipt ofecthiomic benefit from the use by thecharity of ihe item is probable and ihai economic benefit can be measurcd reliably. In accordance with the Chg4Tlties SORP {FRS102) the general volunteer tiffle of congregation Manr5 is re¢ognised. On receipL donat¢d profession41 s¢rvices and doned facilitits gre recogniS on the basis of the valuc of thc Bill to the charity which is the amount thc charity would have len willin8 to pay to obtain services or fa¢ilili¢s of equivalent e¢onornic b¢T]¢fLt otl the Opal market. a c(Krewlng amrwjnt is then reco8nised as expenditure in the of re¢eLPt. Interest on fun&% held on dep11 is included when receivable and the amount can be me&%ur•J reliably by the charity; Ihis is nornially upon Njiification of the interest Fthid or payable by th¢ bank. (d) Expe•ditu Exlxnditure is recognised once there is a legal or WfLstrudive obligation to make 8 YMent lo a third pajry, il is probable thai settlemeni will be required and the amouni of the obligation can E¢ measuTed reliably. ExpenditUTe caD be cl&sified under the (ollowin¥ xtivily headings.. Costs of rnistng futth comprise the dired costs associed with futhisin& ExpenditLtre on clwitsble activities inclth all th costs asKKlatJ with the nmning of the charity to fuTth¢r its PLryses and a&sociated SUprM cos Ex[xIlture includes VAT whidj be reu)veI arKI i5 recor as part of the expidtlure to which it relates. 13
MIDsfocKET PARISH CHURCH OF SCOTLAI¥D ABERDEEN NiyfES AND ACCOUIYTING POLICIFS {CONfiNUED) FOR THE YEAR ENDED 31 DECEMBER 21122 l. Aeeounting lI1¢1t3 (¢omtiD•ed) (e) Fund Fund5 are classifieAJ either Te5tridd funds (r unre5knd fuThJ4 defi1 as follows.. Endowment fuThls are fimds which have bec given on condition that original capital sum is not reduced, but the income there from is for the purpose defined in aCcdance with the objects of the cherity. Reried Thjs are fimds subj1 to specifK requirements &$ to their use which may be declared by the domr or with their authority or Created through legal processe& but still within the wider objects of the charity. Unrestricted funds are exrthdable at the discretion of the Trustees in fiffthe of the objects of the charity. If parts of the LOestrIcted fvnds are earniwed at the discretion of the Tn1¢¢$ for a particular puryose. they are designated os a separate fund. The deS110n has an athninithtive onty and dLKS not legally restrict Ihe Trthsiees. discrdion to 8pply fijnd. (0 TElble flxtd ets The Trustees of the Church hold title to the Church aThl the Manse. The Manse is staiul in the bala1C sheet at a yu¢ estimated by the Tnjmees. The charity h&s the ri8ht to CUpY And use for its charitable objects certain langible fix1 &8s¢L% in¢luding lhe Church, h811s and man5¢. V¢St¢d in The chUh of S¢o¢lar¥J G¢n¢rn] TnLStees. No considerntion is payable for ihe use of these 453¢ts. Exp¢nditure incurr¢d r¢p4ir 8nd mainietthrte of these SS is dw8e as expenditure in the Statement of l.irw)cial Artiviti¢s in the wi(Kl in whi¢h the liability ariw. All tangibl¢ fix assets co4tng in ¢jE¢ of £IO.(MIO havin8 a value to the chority 8realer than one yeHr, othcr than th0 a¢quir•J for spxific wwp05ey, r¢ witslised. t)¢pr¢¢ig1ion is provided on a strai8hi-line basis to WTite off the st (r initial Val les5 ridual va]u¢. of tttngibl¢ fixed &4sets ovtt their estimated useful lives: Fixtures. fittings And office equipnertt 10 years Church properties have not been deprecilted it is cortsidered that the uyeful life is so long and residual v41ue so great that no depreciation is CeSSary. (g) Cmh and ujh ¢quivkits Cash and Cash e4uÉval¢nts in¢lL¥k in han (kposits held al call with banks, other Sh-1¢mI liquid investments with original maturilies of three rnMth5 or le54 and bank overdrnft5. Bank overdrafts we shown within l)om)wing5 in current liabiliiies. O)) FlnADell I¢rMethts The charity has elected to awty the w0visi5 of Sethion I I 'Basic FirwKial In5trumwts' and StIOn 12 '0ther Financial In5trument$ 1$5u¢s' of FRS 102 to atl of its financial inslnllnents. Finaneial instruments are recognised in tl* Lknity's bkn SI1 when the charity becthnes party to the conknctuxl provisions of the ttt8trumenL FinanciAI 8ssets and liabiliti&s are offrt with the net amow)ts in the rnml&l staternen when is a legally enforiyable right to set off the recognisoj arnJnts aThl the is an intention to sdtle on a net bASiS or to re]Se the asset #nd settle the liability simuttsDeousty. 14
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN N(yfES AND ACCOUNTING POLICIES (CONfiNUED) FOR THE YKAR ENDED 31 DECEMBER 2022 A¢¢owtttiti% lIcleS (eolllinued) {h} Fiuneil I1Ments BasleJlM&neidl&wts Basi¢ fiTwiei#l which include debtOT5 and and bank balatKes. are initially measured at transaction price including transaction costs and are 5ubwuently C2Tried at amortised COA using the efftIVe interest method unless th¢ arrangement eoftstitutes a fmarKingtransactiotL where dKtransadion is measural atthe present valu¢ ofthe future r¢¢¢ipts diyeounted at a market rate of inter¢s1. Fin8ne1 &ssets c]lfied as receivable within one y¢ar are not mortised. B¢T.$i¢J7nancidliabililieJ Basic financial liabilities. including creditsn are iniiially recoBni5ed #t trwLS#ction price unless the atTan8ement constitutes a financing tr8nsadion. where the debt insrrument is measured al the ryesemt value of the future receipts discowited at a market rat¢ of int¢r¢st. Fintincial liabilities Classifi pwablc within one year gre not amortised. Debt instDJments are 5ubwu¢n¢ty ¢Arried At amortised cosL using the ¢fftt#ive intttest rate metlmxl. Tradecrtditorsare obligali(w lo pJy ftyg(Kthor setvices that have been acquired inthe ordinary course ofoperntions from suppliers. Arnounls payabl¢ are cl8ssifioJ &8 current liabilitie5 if FAyment is due within one year or les5. If not, they are presented as non-current liabilities. I'rade creditors arc reeo8ni5ed initially at transaction price and subsequently mwured at amortised ¢ost usin8 the effective interest mth. (i) lllves(m¢ttts Fixed &4set investments are initially measured * trSalOn price excI]ng Iransaclion COS a] are subsequently mvJ5ured at fair value * each reFOrting date. UnliSed gains and losses represeni the difference between the market value at the innIng and end of the financial year or, if purchased in theyear. the differenc¢ betwcen cost and market value at the end of the year. Changes in fair v¥41ue are recognised in net In)Me1{CKpend1Iur¢) (or th¢ year. RLalised gain% #nd losses represent the difference be¢¢n th¢ on disposal and the markd value at the start of the year or ¢o$t if purChd in the year. TransaLtion cl5 ¥¢ expettsed a8 iulred. ti) Op¢r4¢lDg leues Th¢ charity clL8sifies the lease of Ffinting equipment ¥n operating lease" the litle lo th¢ equipment remains with the lessor and the equipment is replaced more re8ularly than the ¢¢ixwmic life of such equipment. Rentsl ch8rg¢5 are charg1 on a strnight line b&sis over the peri¢y] of the l¢w. (k) TMtIott Midstocket Parish Church of ScotlaNI Ardffn 15 fLrognised #s a charity f(Y the purEx>se8 of 4)plicable taxation legislation and is ther¢[( not 5ubjecl to t&xation on its charitsble li¥ll]eS. (l) Re¢ir¢m¢Dt benefits Thecharity operoies a defined contributiorts pension 5th¢¥ne. Cm1nl1iS a[eCharg in theaccounts as thcy becom¢ payable in accordance with the Tules of the the. 15
MtDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AIYD ACCOUNTING POLICIES (coNfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 2. Donadois #nd iweiej Unrestricted Rtt¢rl¢¢ed E4doTh'ment futtds fund 2022 2022 UnrtstTkted Re51ri¢ted Endowmtnt funds Funds 2021 2021 Totsl 2022 Total 2021 2022 2021 Offerin85 Tax recovered on 8ift aid Le8a¢ies National Givin8 Day Donations 70,362 16,428 70,362 16.428 66,684 19.323 16.101 16,101 2 655 aLOI 3. l•¢ome from ¢hArlthbte *etlvllles Unrestricted Restri¢t¢d Endowment fundj fund 2022 2022 Uores¢ri¢ted Restrlcted ElldDWmtnt ruods fuDd 2021 2021 Totsl 2022 Totsl 2021 2022 21)21 Weddings and fimernls Coffee Mornin et¢. 12LKI 1,200 1290 1,290 74 907 504 16
MIDSTOCKET PARtSH CHURCH OF SCOTLAND ABERDEEN NOTES AND ACCOUNTING POLICIES {COIYTIIYUED) FOR THE YEAR ENDED 31 DECEMBER 2022 4L Income from other trading aetiyities Unr¢strict¢d Restrlcied Emdowmtnt fwnds funds 2022 2022 Unrtstricted Restrleted Endowment funds ds fuDd 2021 2021 202] Tothl 2022 Totsl 2021 2022 Rent received Investment In¢ome Unrestrlet¢d Restrkned Endowment nd$ nds nd 1022 2022 2022 Uuru¢rlcted ReJM¢led Endowmeot funds fundj 2021 21ni Tot*1 2022 Total 2021 2021 Dividends re¢¢ived Interest received 955 1.949 650 977 1.627 367 17
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AND ACCOUNTING POLICIES (coiYfINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 O. Anlysis of expenditure Unrestrleted R¢Jtrkted Eudown•t Funds funds fund 2022 2022 2022 Uttr¢strk¢ed Re5trlcted EndowmeDI funds nds nd 2021 2021 2021 Totsl 2022 2021 R•lslrt8 funds Offering envelopes Chmrttable #<tfvltleg Ministries and Mission Allsxation Pre$bery dues Minisier's exrtnyes Pulpit supply Other salary costs Fabric repairs and matntenal Council tsx Other building ¢ostS Church offi¢e expenses Org4n and music Donations mAd¢ Indepertdent exAminer's fre Other ex8 67,039 1,795 948 67,039 1,795 61,393 .150 933 61,393 1,150 933 15,209 15209 25,685 2,414 35,793 3.319 1.573 5.415 2220 12.573 12,573 15,249 1,286 24,450 3243 ,054 3,703 2,220 25,683 15249 2,414 27,793 3,319 ,373 ,462 2220 LOI 1,286 24,450 3.243 1.054 3.953 3.703 2220 Total Supwi ¢osts havenol bn separately identified $ the Trt C(IderthCre is lY one charitable a¢tivity. Theref(Ke Sup costs relate wholly lo that activity and have not been seFarately been ideMifi&l 18
MIDsfocKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AND AccouNfiNG POLICIES {coNfiNuED) FOR THE YEAR ENDED 31 DECEMBER 2022 7. Stsff eosts Du]llb¢r5 2022 21121 Salories and wages Social security co&s Pension costs 14 J26 281 12,078 63 The average number of employees during the y¢or was follows.. Nwmber Number Administrli Mw81C 5t8ff No employe¢ had employtt bufits in exce&s of £60.1 (2021- £.). All Churth of c4m8re8ations contrilyjte to the National StiKnd Fund which Ixars the costs of all ministers. stipends and employer's contri1liOnS for na¢ion41 irtsurance. pension and housing and loan fund. Minisiers. Stinds are paid in acconlanLe with the national stiEwd %ale. which is reLqied to years of seryic¢. Tror th¢ year under review the minimum stipend was £28.7¢)O and the maximum s¢Trrtnd (tn fifth and subsequent ycar5) w85 £35.269. 8. Trnstee rnmumeration and reknted rtY ¢r¥n5etkn r)Iirin&v the }'ear the Minis1•. LLLivaJ reimiwsement of eX)st$ incuffed totslling f IT¢Q I?n?I L f %41 Iii Iiddilion, the Cliiirili i) Illl t 4111111 Il 1,11 411 1 ?.414 (2021 £1,286) relating to the Manse on behalf 01 During th¢ year 5 Twstees receiv reimbursernent of expense5 lolI1n8 £2J70 (20214 Trustees- £2.9241 which wer¢ incurred as a result of cwing oui their duli¢& No payments were made to Tru8lecs for Work undcrtakcn or services prOvij and no 'rTuSt or a tason related to A Trustee had any peryjnal inleresl in any n¢Tl or tra(lOll eniered into by the Churth during the year. During the year a totsl of £30.042 (2021- £31232k excludin8 Gifl Aid wa5 to the Church by TrLL8ttts. 19
MIDSIOCKET PAIUSH CHURCH OF SCOTLAND ABERDEEN N(YrES AND ACCOUNTING POLICIFS {coNrtNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 9. T*ngibk fixed Offlee Bulldkngs EqulpmeDt Cost At l J8nuary 2022 Addition5 Disposals 47110 471,610 At 31 December 2022 Depretlation At l January 2022 Charge for the year Disposals AI 31 DMnber 222 Net bwk value At 31 Lkcember 2022 At 31 December2021 10. Investments 2022 2021 Mirk¢t Vjlut Marke( value at l January 2 PiLrcha5ed during year I)i4pD5al proceeds Rcolised gainl(lo&s) on investments Unrealised 8ainll105s) on investments 83,393 74226 Markd v4iu¢ at 31 tkcember 2022 Investments a¢ eost The followin8 investments are held.. Church of Scotland Investors TTUSt Growth Fur Church of Scotland InVeOrS Trnst Income Fund Alliance Trst Murrny Inc(xne TnLSt 44.501 2,482 22,790 49.776 2.933 24,809 20
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AND ACCOUNTING POLICIFS (CONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 11. Debton 2022 2021 Gift aid t&x recoverable Prepa)qnents Other debtors 18.336 34.563 12. Credi¢ors: mou#ts flling dwe withim omt year 2022 2021 A¢¢nlS A8ency collections Other creditors 17.185 39224 13. An115 of ne¢ •moTrg Uwreslri¢¢¢d R¢Jtrict¢d Emdowmethl Totsl Fixed assets Inveslmcnts cUTnt L4sets Current liabiliiies Liabilities due in more than one year 471,610 471,610 75.175 351.868 {17,185) 56,533 94,159 (17,185) 18.642 257,709 Net axsets t JI December 2022 Uwr¢slrk¢¢d Ratricled Endowmenl TDt*l Fixed a55ets Investments Current assets Curreni liabiliiies Liabilities due in more than one year 471,610 471,610 83,393 385.702 (39224) 64.751 IM,589 (7,019) 18.642 291.113 (32205) Net assets at 31 Ikeember 2021 21
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTFS AND ACCOUNTING POLICI (cowfiNuED) FOR THE YEAR ENDED 31 DECEMBER 2W22 l& Movements in l J4mwiry 2022 Gainsl (1(6ses) TrADsfers 31 D¢¢ember 2022 Iwcome Expe*dikn Endowment funds Capitsl Endowrnent Restrieted funds Legacies held in TruA fund World Mission WKI E¢um¢nical Relatiort% flmd B¢nevol¢nt fLd Lif¢ and Work Subs fimd 17J46 17.346 2.732 13 {1.) 2298 1.697 546 391 1.684 (504) (120) (625) 625 9,596 891 l )il'LIiipiiiLllI Ixinaiions Music liind Infortnation Technology fimd Youlh Worker filnd Bible Cjarden (d Community fkfibrilLqtor fund Fabric fuNI 9.596 1.448 2.IKII (2J44} 9.433 9,433 097 138 (557) UTrr¢stri¢ted funds Genernl fijnd Totsl
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AI¥D ACCOUNTING POLICIES {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14. Movements in funds (RthlUtI1) G•imsl (losses) Trlnsftrs 31 December 2021 2021 leome Expeoditm Endowment funds Capithl Endowment fund Restriettd funds Legacies held Èn Trust fund World Mission and Ecum¢nical Rclaiions fund Iknevolent fimd Lifc and Work Subs .1. I.ITIL¥ fund 17J46 17,346 1,098 1.670 553 2.153 14 504 (1,11) 375 1,466 1,684 504 511 625 9.596 891 {553) {375) I k'iLI(11)IllLliI Ixinations Music lund Inlomialion Technolo8y fund Youth Worker fund Bible Garden fund Community t)cfibrillakY fund Fabric fund 9.596 .976 434 9.787 .761 310 (1.395) (434) (354) (645) 9,433 984 Unr¢s¢ri¢¢¢d funds General fund Totsl fad Endowment f4Trds The Capital Endowment fund arises from the rAwchase of the man5c and r¢prurnts the purchase price. Res¢rkteil L¢gxi¢s held in Tru fund: Legacies held for income generation purposes World Mission aTKI Ecumenical Rel10$ fund: Fund for rffom(ion of church mission Benevolent fund.. Fund for the bwefft of rdiMI ministers Lift and WO Subs nd. Life and W(Kk subsl10n5 received in thance . fillul: Fund to &8sist with travel costs relaied to church ¢vents 8nd wffk fund: Fund to suM)ort Youth ini(iatives in the UK and overs DLNLlupinenl Donations fimd: Congregational donaiiong io enhan the facilities of the church Mu51c hd.. trunds and donAtions generated frorn Music@M1d4keI recitais Musi1 events Inlormation Technology fund: Fund io enhance audio visual equipment Youth Worker filnd.. Fund to the four churches group youth WOTk¢r Bible Garden fimd.. Fund to suppm the development of a community bible garden within the churd) grounds Community Defibrillator fi]nd.. Fund io pn)vide a communiry defibrill*or within the church grounds Fabric firyl: Fut arising from the sale of proiw to provide foT fabric ext¢nditure. including repairs and mainten8n¢¢ 23
MIDSTOCKET PARISH CHURCH OF SCOTLAND ABERDEEN NOTES AI¥D ACCOUIYllNG POLICIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Movememts in fwTrds (¢oD¢imued) DesigDXted fvn(LT Cumtty there are no de$Red fith. all eStr1thd funds beitig Available for general PWPKW we. IS. Vol•nteer5 In common with #ll congregations of the Church of Scotland the congre8ati(AJ benefits fr(xn the Contribution made by volunlttrs who give their time arml talents willingly for th¢ benefit of the Chwrh. The areas of ngregatiOnal life which rely on the conthl>ution of volunteers are many and varicd and much of the xtivity would b¢ unable to continu¢ werc it not for the commitmertt shown. 16. Controlling prty The charity is the eontrol of the TTUStees as daailed on pa8e 7. l7. Rttonciuatiott tt¢t DVement im f•wds W ie¢ l%)w from optr•¢imz dlvi¢l¢s 2022 2021 Net movement in fimds Add back deweciation ch8Tge DeduLi investment irKome Deduct ¥ain4&Jd back1055¢5 on Énvestments DeduLt Olher gainsjadd back other los (In¢reaseYd¢¢rease in deb1$ inCrea(dreaseI in creditors (20.013) 1,732 {3.867) 8218 (1.994) 19,167) 16,183 (19,623) Net e#5h wjed ln oper*tlmg aetfvhkj 24
MIDSTOCKET PARISH CItURCH OF SCOTLAI¥D ABERDEEN NOTES AND AccouiYfiNG POLICIES (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 18. collect9 for third parti¢s Durnig the year the following wlieLions wexe fthIrd wties: 2022 2021 World Mission Dd E¢um¢ni•l Reltio Camfed Int¢rnational Dr Graham's Homes LEPEiA Nkolokoii Church. BantyK Malawi Scottish Biblc Society Tear l.und Scotland 'Th¢ Vine Trust Mary, Meals DEC Ukrnine Appeal DEC Pakistan Flo(Ml Atal 75 75 900 75 500 210 75 250 73 75 1.000 175 75 200 100 Mu5k@Mldstoektt Re¢its1s Aberdeen Chamber ()rchestr¥ St Margarel's Bursary Fund Granite City Brw BarKI Various Perfnrni¢r5 lJkr8inian Rege¢ Support Royal Conseryatoire of Scotl3nd Chrislian Aid Cairns Cuunselling 100 75 100 893 362 1.055 136 t>on8tlort5 Made vla Colkeiknnj Bethany Christian Trust Maggi¢s IIEC Ukrnine Appcal DEC Pakistan Flwd App1 146 146 766 "To support Ukranian Ml¢laS at RCS 25