**REGISTERED CHARITY NUMBER: SC011602** 

## **Report of the Trustees and** 

**Audited Financial Statements for the Year Ended 31 December 2024** 

**for** 

**Edinburgh: South East Edinburgh Church** 

**of Scotland** 

The Grant Considine Partnership Statutory Auditors & Chartered Accountants 46 High Street Banchory Aberdeenshire AB31 5SR 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Contents of the Financial Statements for the Year Ended 31 December 2024** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Report of the Independent Auditors**|6|to|8|
|**Statement of Financial Activities**||9||
|**Statement of Financial Position**||10||
|**Statement of Cash Flows**||11||
|**Notes to the Statement of Cash Flows**||12||
|**Notes to the Financial Statements**|13|to|28|
|**Detailed Statement of Financial Activities**|29|to|31|





**Edinburgh: South East Edinburgh Church of Scotland** 

**Report of the Trustees for the Year Ended 31 December 2024** 

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and Activities** 

The Church of Scotland is Trinitarian in doctrine, reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout the world. As a national Church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people in every parish of Scotland through a territorial ministry. It co-operates with other Churches in various ecumenical bodies in Scotland and beyond. 

The union of the four local congregations to form South East Edinburgh Church of Scotland is underpinned by a covenant agreed by each Local Leadership Team: 

• To consider ourselves as one Church - part of Christ's body in South East Edinburgh, acknowledging him as our Saviour and Lord. 

• To balance the need for vibrant centres of worship and mission in each of our recognised communities, with the need to share our people and resources for the benefit of the Church's mission to the parish as a whole. 

- To work together in implementing the Five Marks of Mission of the Church of Scotland. 

## **Volunteers** 

In common with all congregations of the Church of Scotland, the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

On 31st March 2024, the four congregations of Gracemount, Liberton Kirk, Liberton Northfield and Tron Kirk (Gilmerton and Moredun) were united to form South East Edinburgh Church of Scotland (SEECOS). 

(previously locum at Liberton Northfield) was employed by SEECOS for a 6-month period from April to September 2024 to support a smooth transition to the new governance arrangements. On 1st November 2024, joined the Ministry Team as a locally funded Diaconal Minister, based at Liberton Northfield and providing strategic leadership for youth initiatives across the SEECOS parish. 

A number of working groups were established during 2024 to develop and take forward a parish-wide approach on key aspects of our spiritual and business affairs: Worship; Discipleship; Pastoral care; Youth; World Mission; Finance; Buildings; HR; Communications. 

Local missional activities across the SEECOS parish area are taken forward alongside other churches, as part of the "Big Idea" ecumenical church grouping. 

There is continuing uncertainty about church buildings. A case demonstrating the missional use of each building as well as its financial footprint is being developed. This will be considered alongside assessments of the condition of each building and a feasibility study for building a new church on the Gracemount land. A decision from Presbytery is expected before the end of 2025. 

The halls at the four church sites are used extensively by both church-based and community groups for a wide variety of activities ranging from youth clubs and uniformed organisations to a Senior Citizens Club, Parkinson's Group and various sporting, fitness and art clubs. The Kirkgate Café, run to serve the community, is very popular and extended its opening times in 2024. 

Page 1 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Report of the Trustees for the Year Ended 31 December 2024** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Worship** 

A range of worship styles are incorporated in Sunday services across the parish, with services being conducted at various times across five sites: - Liberton Kirk, Liberton Northfield, Tron Kirk (Moredun), The Hub (Gilmerton) and Gracemount Primary School. "Sunday clubs" and activities for children are also included at each worship site. 

A SEECOS-wide gathering takes place on the last Sunday evening of each month. Each of our recognised communities takes a turn to lead or host this meeting. 

Regular mid-week services take place across the parish, including services in several local care homes and sheltered housing complexes and special services for the very young, the bereaved and the housebound. 

A number of other congregations benefit from being able to hold weekly services of worship in our buildings: - Apostolic Faith Mission (Zimbabwean); Church of Pentecost (Ghanaian); Hebron Christian Assembly (South Indian); Life and Light Gypsy Church; and Living God Church (Filipino). 

## **Discipleship and Fellowship** 

A course on "Equipping for Leadership", led by , was held between September and November 2024. Around 15 people from across the SEECOS parish attended each week and gave very positive feedback. A further course on "Mission in today's world", led by , was run in January and February 2025. This course was attended by around 35 people from across the SEECOS parish. 

The SEECOS annual conference was held at Faith Mission on 9th November 2024 and attended by 68 people. 

was the guest speaker leading us in considering the question "How do we share the Good News in a post-Christian society?" 

Various local groups have continued to meet through the year, including weekly meetings for prayer, Bible study and fellowship. 

Alpha courses are run periodically, across different days, times and sites to maximise accessibility. One of the courses in 2024 was run by the SEECAT (South East Edinburgh Churches Acting Together) ecumenical group and hosted in SEECOS premises. 

## **Service and Outreach** 

SEECOS works in collaboration with Edinburgh City Mission to run a Foodbank on the Tron Moredun premises each Friday. Preparation involves a significant amount of time, energy and finance, but is a huge blessing to those in need. We also work with Liberton High School to deliver food packages to families they are supporting. 

Toastie Tuesday, a joint initiative of SEECOS in partnership with Young Life International, has continued to be hosted at Liberton Northfield during term-time. This weekly event regularly serves lunch to an average of 250 pupils from Liberton High School. SEECOS now also hosts a weekly "drop-in" to give the Liberton High School kids a safe space to relax with friends and to get to know local church volunteers and youth workers. 

Summer holiday clubs for primary school children were run at both the Liberton Kirk and the Tron Kirk (Moredun) sites during 2024. 

Members of the ministry team are continuing to develop relationships with local schools and community groups e.g. supporting Fairs at Frogston Primary School and Inch House Community Centre. 

A number of social events brought community members onto the church sites during the year, including coffee mornings, jumble sales, concerts, family fun days, community lunches and Christmas fairs. 

The SEECOS World Mission Team supports Conversation Corner - a welcoming space for international students and other folks from overseas to practice their English conversation skills and make new friends. This is hosted at the Liberton Northfield site and is run in collaboration with Friends International. Over 50 people have attended Conversation Corner with 12-20 usually attending each week. 

Page 2 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Report of the Trustees** 

## **for the Year Ended 31 December 2024** 

## **FINANCIAL REVIEW** 

## **Financial Review** 

The principal source of regular income comes from donations. This is made up of weekly and monthly offerings which saw a decrease on last year. Additional significant income comes from the charitable activities such as hall lets. There was an overall increase in this value by over 12%. 

The total income for the year amounted to £583,082 (2023 £598,028). Total expenditure amounted to £765,903 (2023 £619,275), and Gains on Investments were £45,634 (2023 £36,561). This large increase in expenditure has resulted in an overall deficit of £137,187. A large amount of this is as a result of the ongoing stone work renovations to the Liberton Kirk building. Where appropriate VAT has been reclaimed at 100% under the Listed Places of Worship Grant Scheme at a value of £19,698 (2023 £2,655). All investments are held with either the General Trustees or RBC Brewin Dolphin and were valued at £673,808 (2023 £658,138). At 31 December 2024 total funds (restricted and designated) which are available for various activities including the Kirkgate Café, Foodbank and Youth work amounted to £1,186,439 (2023 £1,249,220). 

## **Reserves policy** 

The charity trustees have considered the reserves required and have taken into account their current and future liabilities. It is the Trustees' policy to hold reserves of approximately three months' expenditure including designated funds. At the year end the Church held unrestricted funds of £1,396,679 of which £1,058,338 has been designated to various activities and small projects. The remaining balance of £338,341 represents over six months' expenditure. The church also holds £128,101 of restricted funds. 

## **FUTURE PLANS** 

The main focus of the finance team and the Kirk Session is to manage the transition to the Union. There have been a number of challenges associated with this transition but a focus on procedures, fund management and fund consolidation with be the main focus of 2025. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is an unincorporated charity and is administered in accordance with the terms in the Deed of Constitution (Unitary Form) and subject to the Acts and Regulations of the General Assembly of the Church of Scotland. 

## **Recruitment and appointment of new trustees** 

Members of the Kirk Session are the charity Trustees. The Kirk Session members are elders of the church who have been elected by Local Leadership Teams to form a balance across the recognised communities within the parish. Elders are chosen from those members of the church who are considered to have the appropriate gifts and skills. The Ministers, who are members of the Kirk Session, are elected by the congregation and inducted by the Presbytery. One of the Ministers serves as the moderator of the Kirk Session. 

## **Organisational structure** 

South East Edinburgh Church of Scotland operates as a Team Ministry, involving two Ministers (FTMWS), two Ordained Local Ministers (OLM), one Pioneer Minister (MDS), one Deacon and one locally funded ministry post. The Kirk Session meets at least once per quarter and is responsible for overseeing the spiritual and business affairs of the church. Certain responsibilities are delegated by the Kirk Session, as appropriate, to parish-wide working groups or to particular roles, e.g. Treasurer, Safeguarding Co-ordinator. Elders from each of the four congregations that existed prior to their union on 31st March 2024 are members of Local Leadership Teams, which are responsible to the Kirk Session for work in their recognised local communities. 

## **Risk management** 

The principal financial risks faced by the charity continue to be the sustainability of income generation in the future together with the variable nature of investment income from the equity portfolio which constitutes a major component of our reserves. These are mitigated by closely monitoring expenditure levels, encouraging increased giving through occasional stewardship appeals and retaining expert investment managers who monitor a diversified investment portfolio. 

The principal operational risks continue to arise from the operation of the Kirkgate Café and the use of church halls. These are mitigated by ensuring health and safety issues are closely monitored, maintenance of the facilities is kept up to date and insurance covers are regularly reviewed. 

Page 3 



Edlnbur
h: South Egs1 Edlnbu
of ScDtlund
Churth
rt of the TTu4tt5
ror the Year Ended 31 IkLYmber 2112A
REFERENCEANDADIIINisfiL¥TIVE DETAIIS
Registered Chwrity nurnlxr
scoi i(A
Con2reg8tion ReteTrnce No:
010133
Prlnclpwl wddres*
iaFKrton Kirk
Kirkgate
Edinburgh
EH166RX
Prlnclpal OffkT-Ixare
MIDlslers
LOCAI Church l**ders
Se551on Ckrk
Church TreAsvrer
Audltors
GrantCon5idirt Partne￿ip
Statutory Auditor5 & Charte￿d A¢¢outttsnts
46 High StsLYt
Banchory
AB315SR
Banker5
Bankof Scotla￿1
ca￿￿[0￿ Toll
La]y R(wl
Edinbur8h
EH165PB
Inve5trnent ￿lanagerS
Brewin Dolph
144 Morrison StRet
Edinbw8h
EH_3 8BR
Tjtk prr)pm a5 IJIrrt￿ Kirk Ha115. 2&30 Kirkga¢e FA11th￿￿h is Irld by
ltrusteesl all￿ (Church Trea5urerl l(r c(ngtegatioll.
Pa8e 4

Edlnbur
h: South Egs1 Edlnbu
of ScDtlund
Churth
rt of the TTu4tt5
ror the Year Ended 31 IkLYmber 2112A
cIt4NGE OF NAME
rharily Changed its nan* to Edinburgh." South Edin1￿[sh Church of Scotlatyj, following of
Grdc£mounl Church of Sc(Aland. Edinburgh (SC(MM950). FAlinburgh.. LilrTtsm KÉrk (Church of ScotlarMI) (SCOI1602}.
LiEerton Ni)rthf*ld Parish Church of sC(￿la￿l. Fth"nburgh ISC(M18891). atml Tr￿ Kirk (Gllll*rt￿ and Moredun).
Fth"nbur8h. Church o[Scotla￿l ISC(KY4274I on 31st Mareh 2024.
STA TENIENTOF TRITSTEES. RESPOliSIBILrr1Tr5
tru¥lee% re%p)n%ible foT prepawing Re￿1 of ￿ TnJs*¢5 and the r)nancial in *conlance with
applicabk law aNi United Kingdom Ac£ounting StsndariLs IUni*d King&)m &rrrdlty AC￿&*d Accounling Practice)
includitL8 Financial ReptKtin8 Sthndard 102 Tr Financial Re￿￿tIng S￿￿laT￿ a￿liCable in the UK and Republic of
law applicabk w charl￿s in the Charl￿s aod TnLqee IDvesU￿n[ (sc￿dI Aci 2(K)5, ChaTilie$
Accounts IS¢(biJand) Regulaiions 2(th {as amnthdl. ￿ ReguJatM)ns Anent Cong￿gatiOnal FIna￿e 4ippwveA by
Gertral Assembly of the Church of s(￿l3[￿J<2(X￿7I and ￿0vIsio￿ of tl* charity'% con51ilulioii. TEqUiTrS tru51ecs
lo prepare financial statements (or each fina￿￿1 yew which 8ive a a￿1 (air view of stale of affairs of the
charity and of the Inc￿1n8 resources and arvlicalion of re%xrLYS. Includ]"n8 the I￿%>￿t and ex￿￿￿"tu￿. of the chan.ty
for ￿ri(￿. In preparing those financial sta￿￿￿nts. the s￿ requtred
. seleci suithble accountsog FKJlic*s aThJ aFoly ¢onsis*nity;
. obierve ￿ methtyjs and win¢iple$ in th Chariiy SORP,
- make JUdge￿￿nL￿ a￿1 estiN￿leS thal are fEasonable a￿1
. sta* whether applicabk acc(xmtiTh8 StaNlards have been followrd. subFLt to zny matrriaj &pArIU￿ disclosed
explained in ￿ fiThancial %ts*ments'.
. prepare the fit)an¢ial ￿a*n￿nts cffl the 80in8 concern basis unless il is presume the charity will
continue in busines&
The trustees are [ESP)nSib￿ (or keepin8 wiyer xcounlin8 records whiL* dI￿10$e with reasonabk accurdcy al any tiMe
the financial position of the charity a￿1 lo enabk them lo ensure that the financial $￿te￿EnL5 comply with the Charilie5
and T￿￿￿*. Invesm*nt (SC￿land) Act 2(M)5, the Thariiie% Accounis IScot]andi Re8ulaiN)ns 2[￿ la% an￿'n&￿1.
Regul￿10￿¥ A￿111 Con8r¢g¥iional Fin8n&r apwoved by the G¢￿141 A￿mb]Y of the Chw¢h of k￿land 121Xlll aThJ
the provisions of the ¢hwily'$ COnStiWliom Try also ￿5P)n$tbk f(ff Safegu￿1ng the asseLg ol chan'ly and
hetKe tsking reasonable for the ￿eVeni10￿ 9￿j de*ciion of fraud %￿j other irregutsrit*
The tru51ees are R5p(xLsible for the mainÈnanLY I￿1 iDWity of any finallcial inf1xm￿1lm on the chariiy's web5ile.
A[oroV￿ by ￿thI rfthe board of ¢nL8*es on l Juty 20J aNI si8Kd cm its l%half by:
Pa8e 5

**Report of the Independent Auditors to the Trustees of Edinburgh: South East Edinburgh Church of Scotland** 

## **Opinion** 

We have audited the financial statements of Edinburgh: South East Edinburgh Church of Scotland (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- proper accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

Page 6 



**Report of the Independent Auditors to the Trustees of Edinburgh: South East Edinburgh Church of Scotland** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Accounts (Scotland) Regulations 2006 and the Charities and Trustee Investment (Scotland) Act 2005. 

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit; 

- obtained from management within the organisation information about their own identification and assessment of the risks of irregularities 

- review of the Board minutes 

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud 

- consideration of fraud risk factors such as management override of controls 

- other sources 

All audit engagement team members were alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 

Owing to the inherent limitations of an audit, there is unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISA's (UK). The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Other matters which we are required to address** 

The prior period financial statements to year ended 31st December 2023 are not audited, as the charity was not legally obliged to do so. 

Page 7 



ort ofthe Inde
ndent.ludltors to the Trllstees or
FAIIDliur
h= S()uth FA%t F.dinliur
h Churrh
of Scotland
Use of our roTA)rt
rep)rt is math ￿Trkty ¢hariWs as a IKrtty, in xc(ffdance with Regulation 10 of ￿ ClJaTilies
AccounL% {ScotJatyJ) RegulalionE 21K￿. Our audii W(wk ha5 t¢en un(krtaken 50 thal we mighi thte ￿ the Charity,
truste&s fftalteTS we aTC ￿quiTed to Stale lo tk¥n in an audittKs' and for ￿ other purwK. To tlr fulk5t
extent ￿rn]itted ty law, we do not xcept or ￿5￿nsibility to anY￿e other thatl the charity and the charity's
trustees as a ￿v. for (y]r au(h"I w(Yk. t￿"8 re[￿rt. f(w dt (yini(MJS we have f(xm
ThL' Graiii CuIi%idiIk, P'utllL'r%liip
Sthiui(]ry Auditors & CThartaed
Eligible to acl as an audiior in tertll5 0( Section 1212 of th ComFwi&s Aci 21X
46 High Strrtt
Banchory
AB315SR
l July 2025
Pa8e 8

**Edinburgh: South East Edinburgh Church of Scotland** 

**Statement of Financial Activities for the Year Ended 31 December 2024** 

|Notes<br>**INCOME AND**<br>**ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**Charitable activities**<br>6<br>Charitable activities<br>Other trading activities<br>4<br>Investment income<br>5<br>Other income<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>7<br>**Charitable activities**<br>8<br>Charitable activities<br>Other<br>**Total**<br>Net gains on investments<br>**NET**<br>**INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>20<br>**Net movement in funds**<br>**RECONCILIATION OF**<br>**FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**|Unrestricted<br>funds<br>£<br>346,286<br>79,111<br>70,558<br>26,118<br>-<br>522,073<br>2,894<br>666,824<br>24,906<br>694,624<br>42,069<br>(130,482)<br>(9,264)<br>(139,746)<br>1,536,425<br>1,396,679|Restricted<br>funds<br>£<br>56,432<br>-<br>1,521<br>3,056<br>-<br>61,009<br>816<br>70,397<br>66<br>71,279<br> -<br>(10,270)<br>9,264<br>(1,006)<br>129,107<br>128,101|Endowment<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>3,565<br>3,565<br>-<br>3,565<br>74,397<br>77,962|2024<br>Total<br>funds<br>£<br>402,718<br>79,111<br>72,079<br>29,174<br>-<br>583,082<br>3,710<br>737,221<br>24,972<br>765,903<br>45,634<br>(137,187)<br>-<br>(137,187)<br>1,739,929<br>1,602,742|2023<br>Total<br>funds<br>£<br>410,429<br>70,591<br>86,038<br>21,742<br>9,228|
|---|---|---|---|---|---|
||||||598,028|
||||||3,293<br>602,546<br>13,436|
||||||619,275|
||||||36,561|
||||||15,314<br>-|
||||||15,314<br>1,724,615|
||||||1,739,929|



The notes form part of these financial statements 

Page 9 



Edlnbur
h: South Egs1 Edlnbu
of ScDtlund
Churth
Statenknt of frinaDeial P05itioD
31 Decern￿r 2024
2023
fund5
FL¥ED ASSETS
Tangible asTe¢s
Investt￿nts
15
16
371.269
377.269
775.585
658 138
.051.077
1,033.723
CURRENT A￿ETs
17
18
38.326
2,298
552
38,878
3,147
18.586
6.688
Investmen
Cash ai bank and in h*MI
43(
131.922
11,494
579.499
723257
CRF.DITORS
Amounts f¥liin8 du¢ withiTh
year
19
I24￿)3)
(3.821)
(27,8341
117,051)
NET CURRF.NT A&SFT8
LURKENT LI.4BILITIES
lJ96ffj79
128.101
77,962
I,fA)1742
1.7J9,929
NEf ASSE75
Unrestri¢*d fut¥J8
Rcstrictcd fuThJs
Endowmthi fuThJs
l J96,679
128.101
lJ36.425
129.107
TOTAL FUNDS
rithancial 5ta*ments weye amroved by the B￿d of Trustees attd auttM)rised i55ue ott l Juty 2)25 wtte
st8￿d on its b￿￿1r by:
Page io

**Edinburgh: South East Edinburgh Church of Scotland** 

## **Statement of Cash Flows for the Year Ended 31 December 2024** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Purchase of fixed asset investments<br>Sale of fixed asset investments<br>Investment funds movement<br>Interest received<br>Dividends received<br>Net cash provided by investing activities<br>**Cash flows from financing activities**<br>Net cash provided by financing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|2024<br>£<br>(219,420)<br>(219,420)<br>(3,768)<br>(54,602)<br>84,566<br>3,541<br>12,555<br>16,619<br>58,911<br>-<br>-<br>(160,509)<br>697,983<br>537,474|2023<br>£<br>(38,316)<br>(38,316)<br>-<br>-<br>3,672<br>6,687<br>6,258<br>15,484<br>32,101<br>704,198<br>704,198<br>697,983<br>-<br>697,983|
|---|---|---|



The notes form part of these financial statements 

Page 11 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Statement of Cash Flows for the Year Ended 31 December 2024** 

## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**Net (expenditure)/income for the reporting period (as per the**<br>**Statement of Financial Activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Gain on investments<br>Interest received<br>Dividends received<br>Increase in debtors<br>Increase in creditors<br>**Net cash used in operations**|2024<br>£<br>(137,187)<br>2,084<br>(45,634)<br>(12,555)<br>(16,619)<br>(20,292)<br>10,783<br>(219,420)|2023<br>£<br>15,314<br>6,208<br>(36,561)<br>(6,258)<br>(15,484)<br>(18,586)<br>17,051<br>(38,316)|
|---|---|---|



**2. ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1.1.24|Cash flow|At 31.12.24|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|697,983|(160,509)|537,474|
||697,983|(160,509)|537,474|
|**Liquid resources**||||
|Deposits included in cash|-|-|-|
|Current asset investments|6,688|(3,541)|3,147|
||6,688|(3,541)|3,147|
|**Total**|704,671|(164,050)|540,621|



The notes form part of these financial statements 

Page 12 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements for the Year Ended 31 December 2024** 

## **1. STATUTORY INFORMATION** 

Edinburgh: South East Edinburgh Church of Scotland is a Scottish Unincorporated Charity and is registered in Scotland. The charity's registered number and principal address can be found in the Reference and Administration Details section of the Report of the Trustees. 

## **2. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

The presentation currency of the financial statements is the Pound Sterling (£). 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

**Donated services and facilities** are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102) the general volunteer time of congregation members is not recognised. 

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is the recognised as expenditure in the period of receipt. 

**Interest receivable** on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

## **Investment income** is included when receivable. 

**Gift Aid receivable** is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. 

**Grant income** is recognised when there is reasonable assurance that the charity will comply with any conditions attached to the grant and the grant will be received. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

continued... 

Page 13 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **2. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Tangible fixed assets** 

The charity has the right to occupy and use for its charitable objects certain fixed assets, including churches and manses, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as expenditure in the Statement of Financial Activities in the period in which the liability arises. 

All tangible fixed assets costing in excess of £2,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Freehold property - not provided Plant and machinery - 25% on cost 

Buildings have not been depreciated as the Trustees are confident that the current market value of the property is greater than cost. 

Any gain or loss arising from the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. 

## **Impairment of fixed assets** 

At each reporting end date, the charity reviews the carrying amount of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 

## **Taxation** 

The charity is exempt from tax on its charitable activities. The charity is not registered for VAT and expenditure therefore includes irrecoverable input VAT. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees' discretion to apply the fund. 

Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income therefrom is used for the purposed defined in accordance with the objects of the charity. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

The charity contributes to a defined contribution pension scheme for all employees who have elected to participate. The assets of the schemes are held separately from those of the charity in an independently administered fund. 

continued... 

Page 14 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **2. ACCOUNTING POLICIES - continued** 

## **Financial instruments** 

The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors. 

They are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. 

## **Investments** 

Fixed Asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year. 

## **Going Concern** 

The trustees consider that the charity has adequate resources to continue in existence for at least the next 12 months. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts. 

**3.** 

## **DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations<br>Gift aid<br>Legacies<br>Grants<br>Rental from TryPraying<br>Flower Fund|2024<br>£<br>316,334<br>61,366<br>2,000<br>21,813<br>700<br>505<br>402,718|2023<br>£<br>313,306<br>61,918<br>16,000<br>14,689<br>4,200<br>316|
|||410,429|



Grants received, included in the above, are as follows: 

|Faith Nurture Forum<br>Corra Foundation<br>Hope Trust<br>Listed Places of Worship<br>Warm Hub<br>Church of Scotland|2024<br>£<br>146<br>-<br>-<br>19,698<br>847<br>1,122<br>21,813|2023<br>£<br>3,246<br>5,250<br>2,500<br>2,583<br>1,110<br>-|
|---|---|---|
|||14,689|



Page 15 

continued... 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**4.**<br>**OTHER TRADING ACTIVITIES**<br>Fundraising events<br>Hall Lets<br>Misc Income<br>**5.**<br>**INVESTMENT INCOME**<br>Other fixed asset invest - FII<br>Deposit account interest<br>**6.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Weddings & Funerals<br>Charitable activities<br>Church Magazine<br>Charitable activities<br>Cafe<br>Charitable activities<br>Toastie Tuesday<br>Charitable activities<br>**7.**<br>**RAISING FUNDS**<br>**Investment management costs**<br>Portfolio management<br>Administrative expenses|2024<br>£<br>-<br>65,575<br>6,504<br>72,079<br>2024<br>£<br>16,619<br>12,555<br>29,174<br>2024<br>£<br>1,902<br>901<br>72,456<br>3,852<br>79,111<br>2024<br>£<br>3,601<br>109<br>3,710|2023<br>£<br>3,201<br>80,055<br>2,782|2023<br>£<br>3,201<br>80,055<br>2,782|
|---|---|---|---|
|||<br>86,038||
|||<br>2023<br>£<br>15,484<br>6,258||
|||<br>21,742||
|||<br>2023<br>£<br>2,673<br>2,922<br>58,406<br>6,590||
|||<br>70,591||
|||<br>2023<br>£<br>2,983<br>310<br>3,293||
||||3,293|



Page 16 

continued... 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **8. CHARITABLE ACTIVITIES COSTS** 

|Charitable activities<br>**9.**<br>**GRANTS PAYABLE**<br>Charitable activities<br>The total grants paid to institutions during the year<br>Syria Appeal<br>Other Churches<br>Poppy Scotland<br>Waldensian Mission<br>Scottish Bible Society<br>Comfort International<br>Rutune Village<br>Big Idea<br>Compassion UK<br>Corra Foundation<br>**10.**<br>**SUPPORT COSTS**<br>Other resources expended|Direct<br>Costs<br>£<br>733,934<br>was as follows:|Grant<br>funding of<br>activities<br>Support<br>(see note<br>costs (see<br>9)<br>note 10)<br>£<br>£<br>3,287<br>-<br>2024<br>£<br>3,287<br>2024<br>£<br>-<br>-<br>100<br>350<br>350<br>350<br>350<br>150<br>56<br>-<br> 1,706<br>Governance<br>Finance<br>costs<br>£<br>£<br>911<br>24,061||Totals<br>£<br>737,221<br>2023<br>£<br>13,322|
|---|---|---|---|---|
||||||
|||||2023<br>£<br>300<br>3,512<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9,060|
|||||<br>12,872|
|||||<br>Totals<br>£<br>24,972|



continued... 

Page 17 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **11. AUDITORS' REMUNERATION** 

|**AUDITORS' REMUNERATION**|||
|---|---|---|
||2024|2023|
||£|£|
|Fees payable to the charity's auditors for the audit of the charity's financial|||
|statements|6,600|-|
|Other assurance services|5,400|4,002|



## **12. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. 

Several members of the Kirk Session received remuneration on account of their employment in the year. (OLM) received £8,320 (2023: £8,060), (Associate) received £9,721 (2023: £NIL), and (Deacon) received £6,481 (2023: £NIL). 

## **Trustees' expenses** 

During the year, Ministers , who are trustees/associates, received reimbursement of expenses incurred totalling £6,613. In the previous year, Ministers , and , who were trustees/associates, received reimbursement of expenses incurred totalling £8,185. 

During the year a total of £21,112 (including gift aid) was donated to the congregation by trustees. In the previous year, £93,147 (including gift aid) was donated to the various congregations by trustees. 

## **13. STAFF COSTS** 

|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries<br>Social security costs<br>Other pension costs|2024<br>£<br>169,374<br>4,927<br>5,610<br>179,911|2023<br>£<br>135,644<br>657<br>2,987|
|||139,288|



The average monthly number of employees during the year was as follows: 

|Ministerial support<br>Administration<br>Music staff<br>Youth worker<br>Other|2024<br>2<br>1<br>2<br>2<br>5<br>12|2023<br>1<br>2<br>1<br>2<br>5<br>11|
|---|---|---|



No employees received emoluments in excess of £60,000. 

All Church of Scotland congregations contribute to the National Stipend Fund which bears the cost of all ministers' stipends and employer's contributions for national insurance, pension and house and loan fund. Ministers' stipends are paid in accordance with the national stipend scale, which is related to years of service. For the year under review the minimum stipend was £31,642 and the maximum stipend (in the fifth and subsequent years) £38,884. 

continued... 

Page 18 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**14.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>338,431<br>71,998<br>**Charitable activities**<br>Charitable activities<br>70,318<br>273<br>Other trading activities<br>85,116<br>922<br>Investment income<br>18,241<br>3,501<br>Other income<br>9,228<br>-<br>**Total**<br>521,334<br>76,694<br>**EXPENDITURE ON**<br>Raising funds<br>2,702<br>591<br>**Charitable activities**<br>Charitable activities<br>513,133<br>89,413<br>Other<br>13,417<br>19<br>**Total**<br>529,252<br>90,023<br>Net gains on investments<br>33,237<br> -<br>**NET INCOME/(EXPENDITURE)**<br>25,319<br>(13,329)<br>**Transfers between funds**<br>(6,816)<br>6,816<br>**Net movement in funds**<br>18,503<br>(6,513)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>1,517,922<br>135,620<br>**TOTAL FUNDS CARRIED FORWARD**<br>1,536,425<br>129,107|Endowment<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>3,324<br>3,324<br>-<br>3,324<br>71,073<br>74,397|Total<br>funds<br>£<br>410,429<br>70,591<br>86,038<br>21,742<br>9,228|
|---|---|---|
|||598,028|
|||3,293<br>602,546<br>13,436|
|||619,275|
|||36,561|
|||15,314<br>-|
|||15,314<br>1,724,615|
|||1,739,929|



continued... 

Page 19 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **15. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 January 2024<br>Additions<br>At 31 December 2024<br>**DEPRECIATION**<br>At 1 January 2024<br>Charge for year<br>At 31 December 2024<br>**NET BOOK VALUE**<br>At 31 December 2024<br>At 31 December 2023|Buildings<br>£<br>370,971<br>-<br>370,971<br>-<br>-<br>-<br>370,971<br>370,971|Plant and<br>machinery<br>£<br>40,994<br>3,768<br>44,762<br>36,380<br>2,084<br>38,464<br>6,298<br>4,614|Totals<br>£<br>411,965<br>3,768|
|---|---|---|---|
||||415,733|
||||<br>36,380<br>2,084|
||||38,464|
||||<br>377,269|
||||<br>375,585|



## **16. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 January 2024|658,138|
|Additions|54,602|
|Disposals|(87,440)|
|Revaluations|48,508|
|At 31 December 2024|673,808|
|**NET BOOK VALUE**||
|At 31 December 2024|673,808|
|At 31 December 2023|658,138|



Investment assets comprise listed investments and are held primarily to provide an investment return for the charity. Approximately 8% of assets are invested in global bonds, 16% in UK bonds, 40% in global equity, 16% in UK equity, 8% in global absolute returns, and 10% unclassified funds, with the balance of 2% in cash. 

Cost or valuation at 31 December 2024 is represented by: 

|||Listed|
|---|---|---|
|||investments|
|||£|
|Valuation in|2024|673,808|



Fixed asset investments were valued on an open market basis on 31 December 2024 by RBC Brewin Dolphin and Church of Scotland - General Trustees. 

continued... 

Page 20 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

|**17.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Listed Places of Worship VAT<br>Prepayments and accrued income<br>**18.**<br>**CURRENT ASSET INVESTMENTS**<br>Brewin Dolphin Funds<br>**19.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Taxation and social security<br>Other creditors|2024<br>£<br>3,277<br>-<br>19,698<br>15,903<br>38,878<br>2024<br>£<br>3,147<br>2024<br>£<br>2,903<br>3,134<br>21,797<br>27,834|2023<br>£<br>-<br>1,675<br>2,655<br>14,256|
|---|---|---|
|||<br>18,586|
|||<br>2023<br>£<br>6,688<br>2023<br>£<br>-<br>1,527<br>15,524|
|||17,051|



continued... 

Page 21 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>Benevolent fund<br>Fabric fund<br>Parish Youth<br>M Gibson Bequest<br>Toastie Tuesday<br>Social Fund<br>Manse Fabric<br>Bridges to Freedom<br>Christine Seaton Legacy<br>Donations/Legacies UNR<br>Grace Gemmell Legacy<br>Helen Geddes Legacy<br>Kirkgate Cafe<br>Property Reserve<br>Tron OLM Salary<br>Senior Citizens<br>**Restricted funds**<br>Outreach fund<br>Benevolent<br>Food Bank<br>Young People<br>Murrie Legacy for Hymn Books<br>Other Restricted Items<br>Ann L Comrie Legacy Income under<br>Restricted<br>R Davidson Legacy Income under<br>Restricted<br>Manse Fabric Fund<br>Donations/Legacies RES<br>Flower Fund<br>Guild<br>Mission Fund<br>Organ Fund<br>Covid Memorial<br>TOR Donation<br>**Endowment funds**<br>Ann L Comrie Legacy<br>R Davidson Legacy<br>**TOTAL FUNDS**|At 1.1.24<br>£<br>416,312<br>1,224<br>1,373<br>3,537<br>12,400<br>733<br>421<br>45,037<br>10,250<br>66,827<br>147,911<br>257,583<br>164,477<br>37,369<br>370,971<br>-<br>-<br>1,536,425<br>890<br>6,228<br>7,421<br>26,859<br>37<br>1<br>-<br>-<br>54,250<br>8,229<br>4,093<br>2,671<br>824<br>17,604<br>-<br>-<br>129,107<br>64,397<br>10,000<br>74,397<br>1,739,929|Net<br>movement<br>in funds<br>£<br>(46,967)<br>(30)<br>2,153<br>(4)<br>1,170<br>352<br>188<br>3,788<br>(200)<br>(121,898)<br>7,109<br>17,489<br>5,700<br>7,557<br>-<br>(8,459)<br>1,570<br>(130,482)<br>(698)<br>335<br>1,766<br>(13,028)<br>(37)<br>-<br>938<br>362<br>889<br>274<br>(311)<br>17<br>778<br>1<br>(4,409)<br>2,853<br>(10,270)<br>3,565<br>-<br>3,565<br>(137,187)|Transfers<br>between<br>funds<br>£<br>(31,004)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>75,635<br>(80,044)<br>(4,855)<br>-<br>-<br>-<br>31,004<br>-<br>(9,264)<br>-<br>938<br>-<br>4,370<br>-<br>-<br>(938)<br>-<br>-<br>-<br>-<br>-<br>-<br>485<br>4,409<br> -<br>9,264<br>-<br> -<br>-<br> -|At<br>31.12.24<br>£<br>338,341<br>1,194<br>3,526<br>3,533<br>13,570<br>1,085<br>609<br>48,825<br>10,050<br>20,564<br>74,976<br>270,217<br>170,177<br>44,926<br>370,971<br>22,545<br>1,570|
|---|---|---|---|---|
|||||1,396,679<br>192<br>7,501<br>9,187<br>18,201<br>-<br>1<br>-<br>362<br>55,139<br>8,503<br>3,782<br>2,688<br>1,602<br>18,090<br>-<br>2,853|
|||||128,101<br>67,962<br>10,000|
|||||77,962|
|||||<br>1,602,742|



continued... 

Page 22 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Benevolent fund<br>Fabric fund<br>Parish Youth<br>M Gibson Bequest<br>Toastie Tuesday<br>Social Fund<br>Manse Fabric<br>Bridges to Freedom<br>Christine Seaton Legacy<br>Donations/Legacies UNR<br>Grace Gemmell Legacy<br>Helen Geddes Legacy<br>Kirkgate Cafe<br>Tron OLM Salary<br>Senior Citizens<br>**Restricted funds**<br>Outreach fund<br>Benevolent<br>Food Bank<br>Young People<br>Murrie Legacy for Hymn Books<br>Ann L Comrie Legacy Income under<br>Restricted<br>R Davidson Legacy Income under<br>Restricted<br>Manse Fabric Fund<br>Donations/Legacies RES<br>Flower Fund<br>Guild<br>Mission Fund<br>Organ Fund<br>Covid Memorial<br>TOR Donation<br>**Endowment funds**<br>Ann L Comrie Legacy<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>395,492<br>-<br>3,850<br>3<br>-<br>3,852<br>622<br>613<br>-<br>21,389<br>9,563<br>7,640<br>5,700<br>71,779<br>-<br>1,570<br>522,073<br>-<br>600<br>23,730<br>18,116<br>-<br>1,754<br>362<br>890<br>2,205<br>530<br>4,724<br>2,480<br>-<br>1,618<br>4,000<br>61,009<br>-<br>583,082|Resources<br>expended<br>£<br>(467,175)<br>(30)<br>(1,697)<br>(7)<br>-<br>(3,500)<br>(434)<br>(375)<br>(200)<br>(143,287)<br>(2,454)<br>(2,784)<br>-<br>(64,222)<br>(8,459)<br>-<br>(694,624)<br>(698)<br>(265)<br>(21,964)<br>(31,144)<br>(37)<br>(816)<br>-<br>(1)<br>(1,931)<br>(841)<br>(4,707)<br>(1,702)<br>1<br>(6,027)<br>(1,147)<br>(71,279)<br>-<br>(765,903)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>24,716<br>(46,967)<br>-<br>(30)<br>-<br>2,153<br>-<br>(4)<br>1,170<br>1,170<br>-<br>352<br>-<br>188<br>3,550<br>3,788<br>-<br>(200)<br>-<br>(121,898)<br>-<br>7,109<br>12,633<br>17,489<br>-<br>5,700<br>-<br>7,557<br>-<br>(8,459)<br>-<br>1,570<br>42,069<br>(130,482)<br>-<br>(698)<br>-<br>335<br>-<br>1,766<br>-<br>(13,028)<br>-<br>(37)<br>-<br>938<br>-<br>362<br>-<br>889<br>-<br>274<br>-<br>(311)<br>-<br>17<br>-<br>778<br>-<br>1<br>-<br>(4,409)<br> -<br>2,853<br>-<br>(10,270)<br>3,565<br>3,565<br>45,634<br>(137,187)|
|---|---|---|---|



continued... 

Page 23 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>Benevolent fund<br>Fabric fund<br>Parish Youth<br>M Gibson Bequest<br>Toastie Tuesday<br>Social Fund<br>The Fellowship<br>Manse Fabric<br>Bridges to Freedom<br>Christine Seaton Legacy<br>Donations/Legacies UNR<br>Grace Gemmell Legacy<br>Helen Geddes Legacy<br>Kirkgate Cafe<br>Property Reserve<br>Reserve<br>**Restricted funds**<br>Outreach fund<br>Benevolent<br>Norman W McMillan<br>Food Bank<br>Young People<br>Murrie Legacy for Hymn Books<br>Other Grants<br>Other Restricted Items<br>Ann L Comrie Legacy Income under<br>Restricted<br>R Davidson Legacy Income under<br>Restricted<br>Manse Fabric Fund<br>Donations/Legacies RES<br>Flower Fund<br>Guild<br>Mission Fund<br>Organ Fund<br>Covid Memorial<br>**Endowment funds**<br>Ann L Comrie Legacy<br>R Davidson Legacy<br>**TOTAL FUNDS**|At 1.1.23<br>£<br>328,118<br>972<br>5,472<br>3,537<br>11,486<br>418<br>261<br>-<br>42,329<br>7,750<br>95,370<br>138,024<br>249,646<br>161,421<br>34,880<br>370,971<br>67,267<br>1,517,922<br>500<br>7,166<br>5,220<br>14,294<br>16,807<br>490<br>3,810<br>1<br>-<br>3<br>53,294<br>8,733<br>4,147<br>2,355<br>1,648<br>17,152<br>-<br>135,620<br>61,073<br>10,000<br>71,073<br>1,724,615|Net<br>movement<br>in funds<br>£<br>15,628<br>252<br>251<br>-<br>999<br>315<br>(48)<br>(28)<br>2,708<br>2,500<br>(28,543)<br>13,313<br>12,456<br>3,056<br>2,460<br>-<br>-<br>25,319<br>390<br>(1,871)<br>(5,220)<br>(6,873)<br>5,985<br>(453)<br>(3,810)<br>-<br>933<br>(3)<br>956<br>(504)<br>(104)<br>1,466<br>(795)<br>-<br>(3,426)<br>(13,329)<br>3,324<br>-<br>3,324<br>15,314|Transfers<br>between<br>funds<br>£<br>72,566<br>-<br>(4,350)<br>-<br>(85)<br>-<br>208<br>28<br>-<br>-<br>-<br>(3,426)<br>(4,519)<br>-<br>29<br>-<br>(67,267)<br>(6,816)<br>-<br>933<br>-<br>-<br>4,067<br>-<br>-<br>-<br>(933)<br>-<br>-<br>-<br>50<br>(1,150)<br>(29)<br>452<br>3,426<br>6,816<br>-<br> -<br>-<br> -|At<br>31.12.23<br>£<br>416,312<br>1,224<br>1,373<br>3,537<br>12,400<br>733<br>421<br>-<br>45,037<br>10,250<br>66,827<br>147,911<br>257,583<br>164,477<br>37,369<br>370,971<br>-|
|---|---|---|---|---|
|||||1,536,425<br>890<br>6,228<br>-<br>7,421<br>26,859<br>37<br>-<br>1<br>-<br>-<br>54,250<br>8,229<br>4,093<br>2,671<br>824<br>17,604<br>-|
|||||129,107<br>64,397<br>10,000|
|||||74,397|
|||||<br>1,739,929|



continued... 

Page 24 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Benevolent fund<br>Fabric fund<br>M Gibson Bequest<br>Toastie Tuesday<br>Social Fund<br>The Fellowship<br>Manse Fabric<br>Bridges to Freedom<br>Christine Seaton Legacy<br>Donations/Legacies UNR<br>Grace Gemmell Legacy<br>Helen Geddes Legacy<br>Kirkgate Cafe<br>**Restricted funds**<br>Outreach fund<br>Benevolent<br>Norman W McMillan<br>Food Bank<br>Young People<br>Murrie Legacy for Hymn Books<br>Other Grants<br>Ann L Comrie Legacy Income under<br>Restricted<br>R Davidson Legacy Income under<br>Restricted<br>Manse Fabric Fund<br>Donations/Legacies RES<br>Flower Fund<br>Guild<br>Mission Fund<br>Covid Memorial<br>**Endowment funds**<br>Ann L Comrie Legacy<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>419,729<br>700<br>4,200<br>85<br>6,590<br>139<br>-<br>774<br>2,500<br>1,890<br>16,353<br>6,912<br>3,056<br>58,406<br>521,334<br>390<br>273<br>-<br>16,011<br>33,372<br>-<br>5,250<br>1,523<br>259<br>955<br>764<br>630<br>4,636<br>1,393<br>11,238<br>76,694<br>-<br>598,028|Resources<br>expended<br>£<br>(425,712)<br>(448)<br>(3,949)<br>-<br>(6,275)<br>(187)<br>(28)<br>(841)<br>-<br>(30,433)<br>(3,040)<br>(2,393)<br>-<br>(55,946)<br>(529,252)<br>-<br>(2,144)<br>(5,220)<br>(22,884)<br>(27,387)<br>(453)<br>(9,060)<br>(590)<br>(262)<br>1<br>(1,268)<br>(734)<br>(3,170)<br>(2,188)<br>(14,664)<br>(90,023)<br>-<br>(619,275)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>21,611<br>15,628<br>-<br>252<br>-<br>251<br>914<br>999<br>-<br>315<br>-<br>(48)<br>-<br>(28)<br>2,775<br>2,708<br>-<br>2,500<br>-<br>(28,543)<br>-<br>13,313<br>7,937<br>12,456<br>-<br>3,056<br>-<br>2,460<br>33,237<br>25,319<br>-<br>390<br>-<br>(1,871)<br>-<br>(5,220)<br>-<br>(6,873)<br>-<br>5,985<br>-<br>(453)<br>-<br>(3,810)<br>-<br>933<br>-<br>(3)<br>-<br>956<br>-<br>(504)<br>-<br>(104)<br>-<br>1,466<br>-<br>(795)<br> -<br>(3,426)<br>-<br>(13,329)<br>3,324<br>3,324<br>36,561<br>15,314|
|---|---|---|---|



Page 25 

continued... 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS - continued** 

## **Purposes of Designated Funds** 

**Benevolent Fund** : Set up on 11 May 2017 to provide funds for needy members of the local community at the discretion of the Church Leader. 

**Fabric Fund** : Funds for repair and maintenance. 

**Parish Youth** : The trustees use this fund to meet the costs of employing a part-time Family Worker, and other associated costs. **M Gibson Bequest** : The trustees have such funds invested, and the income arising is allocated to the General Fund. 

**Toastie Tuesday Fund** : This is used for this specific initiative. 

**Social Fund** : This fund, created using the surplus from the 150th Anniversary celebrations, is earmarked for future social events. 

**Manse Fabric Fund:** The Trustees hold invested funds designated for the maintenance of the Manse. **Bridges to Freedom Fund** : This is a partnership with Bethany Christian Trust to help people in the South East Edinburgh who are wrestling with addiction. 

**Christine Seaton Legacy** : legacy left without purpose specified. At the Kirk Session's discretion 10% was donated to daughter Churches. Of the remainder 50% has been allocated towards building requirements and 50% has been allocated for mission and outreach (including to children and youth families) within the local community. 

**Unrestricted Donations:** the trustees use unspecified donations to purchase extraordinary items of equipment required from time to time. 

**Grace Gemmell Memorial** : the trustees use 90% of the dividends from the shares purchased to fund part of the salary of the Youth worker, with the remaining 10% being transferred to the Organ fund. 

**Helen Geddes Legacy** : legacy left without purpose specified. At the Kirk Session's discretion 50% has been allocated towards building project requirements with the remainder to be used for mission and outreach within the local community. 

**Café Fund** : this is a fund for the provision of a café which caters for fellowship and outreach. **Property Fund** : this fund represents the cost of the halls owned by the congregation. 

**Reserve** : The reserve fund consists of reserves held for the general expenditure of the Church. **Tron OLM Salary:** this is a fund for salary for Janet Mackenzie. 

**Senior Citizens:** this is funds for senior citizens club. 

## **Purpose of Restricted Funds** 

**Outreach Fund** : This fund was renamed from Salary Fund. This fund remains restricted for community outreach. 

**Benevolent Fund:** this is a fund for the benefit of the poor, given at the Minister's discretion. **Food Bank (Basics):** To provide food and supplies for people in the community. 

**Young People** : Fund for work with young people and children. 

**Murrie Legacy** : To provide hymn books and music for the congregation. **Manse Fabric Fund** : donations given towards major fabric projects. 

**Restricted Donations** : this is a fund for donations or legacies given with a purpose specified by the donor, and used solely for those purposes. 

**Flower Fund** : this fund provides flowers for services in the Church and also a tree at Christmas. **Guild:** Club for Church and non-Church members. 

**Mission Fund** : this is a fund used for Missions, whether at home or abroad. **Organ Fund** : this is a fund to provide for the future replacement of the organ. **Covid Memorial Fund** : this fund is for a covid memorial. **TOR Donation** : this is a fund for lunch club for elderly. 

## **Purpose of Endowment Funds** 

**Ann L Comrie Legacy** : net income to be used for benevolent purposes only and is transferred to the Benevolent Fund annually. 

**R Davidson Legacy** : income to be used for general purposes and is traditionally donated to the local Senior Citizens Club. 

Page 26 

continued... 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **20. MOVEMENT IN FUNDS - continued** 

## **Transfers between funds** 

There has been £80,044 transferred out of Unrestricted Donations to cover the Christine Seaton Legacy Fabric element and the Covid fund. 

There was a £31,004 transfer from General Funds to OLM Salary made in Tron Kirk from the Investment disposal. 

The Grace Gemmell profits (dividends less investment fees) have been calculated as £4,855, with 90% transferred to Young People and 10% to Organ Fund. 

The Ann Comrie profits (dividends less investment fees) have been calculated as £938, with this amount being transferred to the restricted Benevolent fund. 

## **21. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year, other than those disclosed under trustee remuneration and expenses. 

## **22. PRE/POST MERGER ANALYSIS** 

The group's financial statements are prepared in accordance with FRS 102. For business combinations within the group, merger accounting has been applied as permitted by FRS 6 and FRS 102. On 31st March 2024, four charities were merged, including; 

Gracemount Church of Scotland, Edinburgh (SC004950), 45 Gracemount House Drive, Edinburgh, EH16 6FD, Edinburgh: Liberton Kirk (Church of Scotland) (SC011602), Kirkgate, Edinburgh, EH16 6RX, 

Liberton Northfield Parish Church of Scotland, Edinburgh (SC008891), 280 Gilmerton Road, Edinburgh, EH16 5UR, and 

Tron Kirk (Gilmerton and Moredun), Edinburgh, Church of Scotland (SC009274) 6-8 Craigour Gardens, Edinburgh, EH17 7NX. 

All of the charities assets, liabilities, and funds have been merged as if they have always been a part of the same entity, the comparative amounts for 2023 have also been presented on the same combined basis, ensuring a consistent view of the merged charity's financial position over time. Restricted funds have continued to be presented separately in the accounts of the merged charity. 

## **Analysis of principal Statement of Financial Activities components for the current reporting period** 

||**Gracemount**<br>**(pre-merger)**|**Liberton**<br>**Northfield**<br>**(pre-merger)**|**Tron Kirk**<br>**(pre-merger)**|**Liberton**<br>**Kirk**<br>**(pre-merger)**|**SEECOS**<br>**(post-merger)**|**Combined**<br>**total**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Total income|4,583|7,779|19,169|105,388|446,163|583,082|
|Total expenditure|5,395|13,288|21,925|119,225|606,070|765,903|
|**Net**|(812)|(5,509)|(2,756)|(13,837)|(159,907)|(182,821)|
|Other gains/(losses)|-|-|-|-|45,634|45,634|
|**Net movement in funds**|**(812)**|**(5,509)**|**(2,756)**|**(13,837)**|**(114,273)**|**(137,187)**|



continued... 

Page 27 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2024** 

## **22. PRE/POST MERGER ANALYSIS - continued** 

## **Analysis of principal Statement of Financial Activities components for the previous reporting period:** 

||**Gracemount**|**Liberton**<br>**Northfield**|**Tron**<br>**Kirk**|**Liberton**<br>**Kirk**|**Combined**<br>**total**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Total income|25,929|59,139|99,702|413,258|598,028|
|Total expenditure|28,370|70,034|119,359|401,512|619,275|
|**Net income/(expenditure)**|(2,441)|(10,895)|(19,657)|11,746|(21,247)|
|Other gains/(losses)|-|914|24,386|11,261|36,561|
|**Net movement in funds**|(2,441)|(9,981)|4,729|23,007|15,314|
|Total funds brought<br>forward|8,967|48,581|375,337|1,291,730|1,724,615|
|**Total funds carried**<br>**forward**|**6,526**|**38,600**|**380,066**|**1,314,737**|**1,739,929**|



**Analysis of net assets at the date of merger:** 

||**Gracemount**|**Liberton**<br>**Northfield**|**Tron**<br>**Kirk**|**Liberton**<br>**Kirk**|**Combined**<br>**total**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Net assets|5,714|33,091|377,310|1,300,900|1,717,015|
|Represented by:||||||
|Unrestricted funds|4,824|33,091|366,883|1,107,922|1,512,720|
|Restricted funds|890|-|10,427|118,595|129,912|
|Endowment funds|-|-|-|74,383|74,383|
|**Total funds**|**5,714**|**33,091**|**377,310**|**1,300,900**|**1,717,015**|



The figures disclosed in Gracemount, Liberton Northfield, and Tron Kirk were re-stated for the period to 31 December 2023 on an accruals basis, previously these financial statements had been prepared on a Receipts and Payments basis. 

Page 28 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Detailed Statement of Financial Activities for the Year Ended 31 December 2024** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>Gift aid<br>Legacies<br>Grants<br>Rental from TryPraying<br>Flower Fund<br>**Other trading activities**<br>Fundraising events<br>Hall Lets<br>Misc Income<br>**Investment income**<br>Other fixed asset invest - FII<br>Deposit account interest<br>**Charitable activities**<br>Weddings & Funerals<br>Church Magazine<br>Cafe<br>Toastie Tuesday<br>**Other income**<br>Receipts from General Trustees<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Investment management costs**<br>Portfolio management<br>Administrative expenses<br>**Charitable activities**<br>Wages<br>Carried forward|2024<br>£<br>316,334<br>61,366<br>2,000<br>21,813<br>700<br>505<br>402,718<br>-<br>65,575<br>6,504<br>72,079<br>16,619<br>12,555<br>29,174<br>1,902<br>901<br>72,456<br>3,852<br>79,111<br>-<br>583,082<br>3,601<br>109<br>3,710<br>169,374<br>169,374|2023<br>£<br>313,306<br>61,918<br>16,000<br>14,689<br>4,200<br>316|
|---|---|---|
|||410,429<br>3,201<br>80,055<br>2,782|
|||86,038<br>15,484<br>6,258|
|||21,742<br>2,673<br>2,922<br>58,406<br>6,590|
|||70,591<br>9,228|
|||598,028<br>2,983<br>310|
|||3,293<br>135,644<br>135,644|



This page does not form part of the statutory financial statements 

Page 29 



**Edinburgh: South East Edinburgh Church of Scotland** 

## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** 

|**Charitable activities**<br>Brought forward<br>Social security<br>Pensions<br>Room hire<br>Rates and water<br>Insurance<br>Light and heat<br>Telephone<br>Postage and stationery<br>Sundries<br>Giving-to-grow<br>Presbytery dues<br>Travel<br>Repairs & maintenance<br>Office costs<br>Audio visual<br>Outreach<br>Pulpit supply<br>Locum Salary<br>Catering<br>Toastie Tuesday<br>Honoraria<br>Cleaning & Grass Cutting<br>Young People's Subscriptions<br>Food Bank<br>Vehicle maintenance<br>Church magazine<br>Commitment<br>Conferences & training<br>Sunday club<br>Cafe expenditure<br>Plant and machinery<br>Grants to institutions<br>Grants to individuals<br>**Support costs**<br>**Finance**<br>**Governance costs**<br>Auditors' remuneration<br>Auditors' remuneration for non audit work<br>Bookkeeping<br>Total resources expended<br>**Net expenditure before gains and losses**<br>Bank charges|2024<br>£<br>169,374<br>4,927<br>5,610<br>2,684<br>19,709<br>16,828<br>46,963<br>3,514<br>4,670<br>25,188<br>161,856<br>3,722<br>6,613<br>171,992<br>12<br>527<br>5,869<br>1,375<br>3,437<br>2,078<br>3,500<br>300<br>9,574<br>1,695<br>21,907<br>-<br>5,892<br>1,424<br>1,631<br>1,237<br>27,742<br>2,084<br>1,706<br>1,581<br>737,221<br>6,600<br>5,400<br>12,061<br>24,061<br>765,903<br>(182,821)<br>911|2023<br>£<br>135,644<br>657<br>2,987<br>2,034<br>14,195<br>18,816<br>25,228<br>3,417<br>2,783<br>15,206<br>153,974<br>3,565<br>7,483<br>81,327<br>944<br>1,430<br>11,191<br>2,730<br>15,820<br>302<br>6,275<br>300<br>18,516<br>2,521<br>22,864<br>524<br>5,750<br>1,347<br>554<br>849<br>23,783<br>6,208<br>12,872<br>450|
|---|---|---|
|||602,546<br>-<br>4,002<br>8,558<br>876|
|||12,560<br>619,275<br>(21,247)|



This page does not form part of the statutory financial statements 

Page 30 



**Edinburgh: South East Edinburgh Church of Scotland** 

**Detailed Statement of Financial Activities for the Year Ended 31 December 2024** 

|**Realised recognised gains and losses**<br>Realised gains/(losses) on fixed asset investments<br>**Net expenditure**|2024<br>£<br>(2,874)<br>(185,695)|2023<br>£<br>-<br>(21,247)|
|---|---|---|



This page does not form part of the statutory financial statements 

Page 31 



## **APPENDIX** 

## **FUNDS HELD BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES** 

## **FOR THE BENEFIT OF THE CONGREGATION** 

|**2024**<br>**CAPITAL ACCOUNT**<br>**£**<br>Credit balances held at 31 December at cost<br>108,531<br>Market value of balance at 31 December<br>109,385<br>**REVENUE ACCOUNT**<br> 7,874<br>Credit balance at 31 December<br>**TEMPORARY ACCOUNT**<br>Debit balance at 31 December<br> (1,383)|**2023**<br>**£**<br>108,531|
|---|---|
||109,257|
||2,729<br>(1,383)|