Dundee: Kingsgait Kirk Church of Scotland Annual Report and Accounts for the year ended 31 December 2024 Congregation No: 291775 Scottish Charity No: SC011775
Dundee: Kingsgait Kirk Church of Scotland Contents Page Trustees, Report Rep¢)rt of the Auditor Slalemenl of Financial AcllvS1i8s 14 Balance She81 15 Notes lo the Accounls 16~34 Appendix
Dundee: Kingsgait Kirk Church of Scotland Trustses. Annual Report for the year ended 31 December 2024 The trustees present Ihelr annual reporl and accounts oflhe charity for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies sel out on pages 17 - 19 in the notes lo the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Inveslmenl (Scolland) Act 2005, the Charities Accounts (Scollandl Regulations 2006 (as arnended) and Accounting and Reporting by Charitles.. Statement of Recomrnended Practice appllcable to charities preparing their accounts in accordan( with the Financial Reporting Standard applicable In Ihe UK and Republtc of Ireland effeclive 1 J8nuary 2019. The Church of Scotland is Trinitarian in doctrine. Reformed in tradillon and Presbyterian in polity. It exists to glorify God and to work for the advancament of Christ's Kingdom throughL)ul the world. As a national Church, il acknowledges a distinctive call and duly to bring the ordinanc8s of r81igion to tho poople in every parish of Scotland through a territorial ministry. It co-operates with other Churthès in varlous ecumenical bodies in Scotland and beyond. Achlev8ments and Perfonnance Ovorvlow The congregation continues to be blessed by the pasloral care and leadership of th Unfortunately. the Minister had a perlod of illness In spring and summer 2024, and the congregation is very grateful to the worship lead8rs who provided cover during this time. In June 2024, the congregation celebrated its 250 anniversary. This signrficant milestone. as woll as provldlng the opportunity for a weekend of celebrations, was also a catalyst for the current sanctuary redevelopment project, aimed al providlng gater flexlblllty, accessibility and sustainability of the worship space. We exped the project to reach completion before the end of 2025 and are working with a fimi of architects to project manage. whilst meeting the govemanc8 requirements of the Church of Scotland around building and interior redevelopment. Worship & Membership Attendances remain encouraging, and a review of congregalion81 pastoral visiting began in 2024 which will reach completion in 2025. This means we will move towards the establishment of a dedicated pastoral visiting group instead of Ihe Eklers, district syslgm for visiting members, as well as navigating the safeguarding requirements that the creation ol such a group raquir&s. Gov8rnance The congregation continues to operate under the Unitary Conslitution of the Church of Scotland. Organisalions and Commillee5 are fully embedded and contributing to the work of the Kirk Session and Ihe Ilfe Df the congregation. The congregation also continues to operate under the auspices of the Presbytery of Perth and to adon the Five Marts of Mission sel out in Ihe Church of Scotland's 2021 Radical Action Plan. Mlsslon Partnershlp Our Mission Partner, Just Bee Productlons, contlnu8S to provide an irnpressive range of wraparound services which are closely aligned with the overall purposes and elhos of the congregation. Their seNices are available to anyone who requir85 assistance across a wide range of social issues includlng mental heallh emergencies, food insecurity. social wort( and housing Issues. They provide a regular programme of participatory group activities, one to on& support and advocacy, free hot meals, volunteer and employmont opportunities. a community laundry and a community cafe.
Dundee: Kingsgalt Kirk Church of Scotland Trustees, Annual Report for the year ended 31 December 2024, cont. Staffing l•vels Staffing for the congregation is as follows.. a linance coordinator employed for 6 hours per week a Church Officer and hall-letling coordinator for 8 hours per we6k a Dlreclor of Music employed for 6 hours per week a cleaner 6mployed for 14 hours per week. Church Propertlos Both the congregation's shop premises at 112 and 118 N81h8rgate continue lo be let. both on leases of 16 years. 112 Nethergale is occupied by Transition Dundee, who operate a vintage and used clothes social enterprise from the premises. The lease of 118 Nethergale has now transferred lo NoL¢rish Ltd initially for the 5 years remaining of the previous lease wilh Andreou's. There have been some signSficant stewardship challenges in effectlng and finalising this change. In addition to their use by Church organisalions, our Halls continue lo be frequently let in support of various community groups and one-off events. Supported groups include Alcoholics Anonymous. Gamblers Anonymous, Total Recall Memorles Choir, Dundee Photographic Society and Dundee Archivists. Church Organ5satlons Glrls, Brlgade For the first part of 2024, tho girls worked on the topic 'Heroes'. They found out about heroes from the Bible, history, everyday hero8s and even becoming 'Eco-Heroes' themselves. In August, the new session started with an outing to the Deer Centre which was greatly enjoyed by the girls and the leaders. When our meetings started, we saw an influx of new members boosting our roll to the highest it has been for many years. The topic for the new session was 'AII About Me., whlch afforded many opportunities to discuss feelings, boost Confiden and display some oflheir talents. Programme work was interspersed with a variety of craftwork and the usual Hallowe'en and Christmas parties. The Kirk Session became aware, with sadness. in late 2024, of Girls, Brigade Scotland's decision lo enforce a retirement age on ils Leaders of 70, with significant consequenGes for the future of the local Company. More information on this development is expected in 2025. Sunday Clublchlldron and Young People During 2024, while the number of children and young people attending church on a regular basis has been limited, Ihose who have attended have participated in worship at a level suited to their age. Teenagers and older children remained in ¢hurch for the full seryice and have glven readlngs or prayers. On occasion, families associated with our Mission Partner, Just Bee, have joined the congregation for worship. Areas at the front of the sanctuary and outwlth the sanctuary have been sel up with toys for younger children. This has allowed children lo remain in church with their carers or to spend time in the area outwith the sanctuary. A group of members who can assist with the children has been set up.
Dundee: Klngsgait Klrk Church of Scotland Church of Scotland Gulld Throughout the year, the members enjoyed hearing about the work of various organisations and also had tho opportunity to learn about some of the projects which the Guild nationally supports. These meetings wore interspersed with talks on local interest and musical entertainment from Alison and Friends and th8 Happy Ukes. In Seplember we moved from the theme 'New Wlne, New Wineskins, to 'Sure Foundations,. the first theme in the new strategy is 'Let Us Build a House,. The Minister conducted the Christmas carol service and once more the Christmas lunch was held in ihe Gl8Site Hall with the meal provid8d by an outside caterer. The meal was followed by quizzes and games which got the competitive juices flowing. Carpèl Bowllng Club Following a four-and-a-half year break, the Church Carpet Bowling Club restarted in Sept8mber 2024, 8fter an encouraging number of people many of whom had never previously bowled - had shown interest. The aim was to have fun, laughter and socialise whilst trying a new hobby. Over the first few weeks, bowls were going In all directions and the call 'stick' was heard many limes. Over the months, the bowling has improved greatly along with the fun, laughter and frlendship. We now have 16 members, with a weokly attendance of 9 - 10 bowlers. New members are always welcome. Flower Commlttee 2024 was another busy year for the ladies on the Flower Committè8. Congregational donations to the Flower Fund enable the ladies to purchase flowers for display every Sunday in Church. These are distributed after the service to the bereaved and people who are ill. Those in the congregation who give Iheir time delivering fruit trays and posies to care homes and homes of th8 èlderly who can no longer attend church are much appreciated. This is carried out thr88 times a year. During 2024, Ihe Flower Committee sent cards at Easter, Harvest Time and Christmas lo thos8 on the fruit and posy list who. due to mobility Issues, have difficulty answering the door lo accept their gift. Falr Trade Fair Trade producls continue to be available for purchase by members of the congregation after Sunday services, with proceeds don8t8d to Transform Trade. Part of the proceeds from Ihe Annual Advenl Appeal supported Transfom Trade's Christmas appeal to enable women to 'Work without Fearf. Cholr The Choir conlinues to lead the congregation in singing each week., also presenting some speci81 items, for example during the dedication of the offering, for Communion services and at key festivals during the year such as Easter. Harvest. Remembrance Sunday and Christmas. The Choir meets to practise on Sunday mornings before morning worship. and it is always a joy to welcome new singers. Blg Sing sessions in summ8r 2024 attracted a good number of participants. moslly from the congregation bul also some friends and family, and we hope to hold another Blg Sing event in the early summer of 2025 for Christian Aid Week. We have continued to ring out our call to worshlp on many Sunday mornings by playing the bells before the service, We were delighted fo have lan Cassells (Perth City Carilloneurl and the Heart & Soul Swing Band join us to help with the 250kn anniversary celebrations.
Dundee: Kingsgait Kirk Church of Scotland Charlty Knlttlng Group Now In ils eighth year and fourth project, since January 2024 the group has been working on producing small items of clothing and comfort blankets for young children who 50melimes arrive with their mothers at the local Dundee branch of Women's Aid. Often they arrive with very little in the way of personal possessions and clothes. This project is under the umbrella of the Queen Motherfs Clothing Guild, which already works with Women's Aid as well as many olher charities UK-wide. The group has not yet made a finish date for the project, but once available, tho items will be dedicated al a church seIce, then delivered lo Dundee Women's Aid. We shall be taking a little break from this to make small knitted stuffed eggs (zero calories) which we shall give to our congregation at Easter 2025. Walklng Group After a pause during Covid, durlng which time the then leader stepped down, the Walking Group has restarted and is now into ils second year under new leadership. The walkers have determined that the best walks are to be had between April and September, with distances of 5-7 miles. Monthly Saturday walks have seen them exploring Dundee, Angus, Fife and Perthshire, and are always accessible by bus land bus pass for the lucky majority). The group size over the last year has extended from 2 to 8 with walkers from our own and neighbolfring churches. There is no fomial membership, nor fees., ralher, the principle of Ihe group is to enjoy the great outdoors in a social gath6ring, getting soma exercise while admiring the scenery, and to finish up al a coffee shop.
Dundee: Kingsgait Kirk Church of Scotland Trustees, Report for the year ended 310ecember 2024. cont. Financial Review The financial position of Kingsgail Kirk was boosted in 2024 by receipt of an exceptiorFally gènerous legacy from a longstanding member of the congregation. The bequest of £397,089 was made 'for the general purposes of the church, and will enable us to proceed with the sanctuary refurbishment Project mentioned above. In the meantlme, the funds have been lodged in Ihe Church of Scotland Investor's Trust Deposit Fund, where they attract interest. Receipt of such a substantial sum has necessitated a full audit of this yearfs accounts, rather than the usual independent examination, under Charilies Accounts (Scolland) Regulations 2006. The legacy is, of course, included in the Statement of Financial Activities, but the commentsry below is based largely on the underlying pattern of income and expenditure across the year. A significant source of the congregation's ordinary income remains the giving by its members through Weekly Freewill Offering envelopes or monlhly or annual donations, including many given by Standing Order and a substantial proportion given under the Gift Aid scheme. The recent Irend of reduction in unreslrict8d donations has continued. albeit at a slower rate than in previous years £969 (1.3D/.) between 2023 and 2024. The Session will continue to review income regularly, analysing tho changes in methods of giving by the congregation, and always encouraging Gift Ald donations whero appropriate. Members are asked to review the level of their giving regularly. The welcome increase in olher forms of income recorded in the pasl two years. Reports continues, although less dramatically now thal the post-pandemic return to normal levels of hall lets has largely stabilised. The total income derived from hall lets across bolh sites increased by 7.30/0 to £25,472. At the end of 2024 rates for hall use were revised upwards for the first lime in some years to tske account of signiflcanl increases in utilities and other costs. The new rates approved by th8 Kirk Session took effecl from January 2025 and will be reflected Sn the coming year's accounts. The change of tenant for Ihe shop premises at 118 Nethergate resulted in a temporary interruption of rent receipts for Ihat property, bul the situation has now stabilised. Rents from the King Street car park increased marginally to £16,940. The increased cost of car park rates refiecls Ihe final stage of the phased withdrawal of the Small Business Grant previously given by the Council. The continued recovery of markets in 2024 and increases in interest ratgs have r8suSted in a further in¢ase in investment income across all funds. There was £5,749 (12.80/0) increase in dividend income from the previous year. The significant increase in Deposit interest arises in large part from that attracled by the legacy lodged in the Investor's Trust Deposit Fund. The Total Incoffle figure in the 2023 accounts included a transfer of £42.734 from Ihe congregation's holdings in the Consolidated Fabric Fund to meet the costs of major repairs to the Meadowside St Paul's roof Irusses. Once that exceptional item has been removed, along with the legacy and its related interest In 2024, Ihe underlying increase in income between the hvo years is £9,358 (4.8%). Total Expenditure increased by £57,416 (23.40/0) ov8r 2023. The main factors in this included a 300A increase in the congregation's contrlbutlon to n1[al Church of Scotland costs (Giving to Grow, previously Ministries and Missions Allocation). partly attributable lo a change in the method of calculation of congregational conlribulions, and a 138QA increase in utilities costs. The latter arose both from the significantly increased prices of electricity and gas contracts implemented in late 2023 and April 2024 and continued increases in the use of hall premises. Fabric repairs and maintenance costs rose by 210/0, over an already high figure in 2023, mainly through two malor projects improvement works to tho Glasite Hall {funded largely from the 250 Fund) and the much-needed re- surfacing of the King Street car park. Exduding the legacy principal, the overall deficit. before unrealised gains on investments, in 2024 is £60,833. While a significant turnaround from a surplus (including the CFF income Iransfer) of over £21,000 in th& previous year, this is largely attributable lo the major increases (somè extraordinary)
Dundee: Kingsgait Kirk Church of Scotland In expenditure outlined above and relatively static general income. The congregallon holds more Ihan sufficient funds lo cover such a Ios5 and the trustees are aware of the need to monitor bolh income and expenditure carefully. Investment Policy and Performance The pattern of inveslments differed between the two constituent congregations now fonning Kingsgait Kirk, though with similar aims of maximizing income over the medium term and investing in ethical companies. Dividends across the portfolios increased by £5.749113 /.) from the previous year. Just over 400/. (al current market value) of the congregation's investment funds are currently held in the Church of Scotland Investors Trust's Income Fund. The market value of Ih8S8 holdings held relatively stable in 2024, resulting in marginal unrealised gains of £5,072 (0.90/01. The balance of the portfolio of investments, consisting of shares in the specified investment trusts, is 5ntended to provide income primarily while maintaining capital growth. High risk funds are avoided. As global stock markets continued to perform well in 2024, there was an unrealised gain of £84,630 across the portfolio, although the value of one stock continued to fall. As noted above, improved interest rates on the Cos Investor's Trust Deposit Fund holdings have resulted in a continued increase In interest payable on this, further boosted by the proceeds of the bequest lodged therein. The remaining proceeds of the 2017 sale of Meadowside St Paul's former manse are held in the Church of Scotland Ganeral Trustees. Consolidated Fabric Fund for the b6nefit of the congregalion. Following their use for the major heating project In 2018, related electrical works. and th6 congregation's share of the purchasg of thg new joint manse in 2019, and Ihe cost of repairs lo the MSP roof trusses in 2023, the balance remaining in the Fund continues to be held to meet the cost of other fabric-related projects approved by Prosbytery and the General Truslees as required. Rlsk Management Principal risks facing Kingsgait Kirk and action taken to mltlgate the rlsks include the followlng: ein Con re ation.. In common with the majority of congregations across Scotland we find thal th8 average age of our congregation is increasing, which we recognise as a potential risk to our fulure membership roll and our ability to continue to recruitlengage volunteers and Trustees etc. To minimise Ihese risks, we intend to axpand our work and exposure across the Youth and Student communities in the hope that we can encourage new members. C ber and Fin ncial Crime: Both congregallons have adopted a GDPR-compllanl Data Protection Policy which addresses issues of data confidentiality and security. The Session will look to combine Ihese into a single Policy. Safe uardin The Iruslees lake seriously the duties and responslbilitles pl8ced upon them regarding the protection of vulnerable groups and report on trustee and volunteer training annually to Presbytery, in line with Church of Scotland policy. and Maintenance of Buildin To minimise financial risk, we ensure we keep sufficient funds available lo meet expected levels of repair I mainlenanco costs. We have a Fabric Committee which regularly inspects the various buildlngs to ensure that all work required Is idenlified and dealt with without delay, minimising &xpense and tho risk of injury to the public due to defective buildings. We have addressed a number of issues identified in the Report of the Presbytery's Quinquennial Propety SuNey of the Meadowside St Paul's buildings undertaken in 2021. Financi81 Slabilit l Global Econom We recognise that the global economy can impact the value of our assets. Whilst we cannot influence the economy we can 8nsure that our investm&nts are monitored to protect their value. The pandemic years have made us all loo aware of the effects that other global factors beyond our control can have on the life of the congregation and its financlal position, and as noted below every effort is made to Safeguard this. We are aware that a significant proportion of our total investments is held in one shareholding (Alliance Trust plc). The Finance Comrnitt8e Maintains an awareness of investment holdings and the fluctuations in their value arising
Dundee: Kingsgait Klrk Church of Scotland from market condltions. Divldends from the Alliance Trust remain heatthy, and the value of the stock has shown significant Increases In the past three years. al Res onsibiliti8s and Governance Chan es: We ensure we maintain awareness of our legal responsibilities in terms of financial reporting. health and safety. employment law and charity law by working wrth relevant experts and professional advisors. Reserves Policy It is the Trustees. policy lo hold sufficient resgN6s to meet the n8eds of the charity, always aware that the congregation's extensive buildings (sanctuaries. hall complexes and shops), the majority of which are listed, are situated in the heart of cily life and should any emergency or unexpected repairs be required tho matter has to be de8tt with without delay. Unrestricted cash funds (including those designaled for special purposes as shown on pages 20 - 22 below) of £473,376 and investments of £151,700 {at market value) We held al the end of the year. While this may be higher Ihan would normally be expected. the Truste&s are aware that significanl funds might be required for planned or unplanned maintenance and upgrade of buildings. The Cash figure also includes the substsntial legacy received in 2024. The manse is vested locally and is included in the accounts as a Tangible Fixed Asset. Restricted and Endowmenl cash funds lotalling £195,968 and inveslments of £1,302,402 lat market value) were held in accordance with purpos85 specified on pages 20 - 22 below. At the year end the church held tjnrestricled funds of £927,236 of which £489,626 was held as designated funds, including £302,160 in the Tangible Fixed Asset of the Manse building. The remaining balance of £437.610 (including the legacy) is held in General Reserve, representing Iwenly-four months of general expenditure. The Church also held £1,284,016 of endowment funds and £214.354 of restrictéd funds whlch have be6n provided for the purposes specified on pages 20 -22. Structure, Governance and Management The congregation is a registered charily, numb8r SC011775, is administered In accordance wlth Ihe temis of the Deed of Constitution (Unitary Form> and is subject to the Acts and Regulations of tho General Assembly of the Church of Scotland. Members of the Kirk Session are the charity Irustees. The Kirk Session members are the elders of the Church and ar6 chosen from m8mbers of th8 Church who are considered to have the appropriate gifts and skills. The minister, who is a member of Kirk Session, is elected by th8 congregation and inducted by Presbytery. The Kirk Session, which meets six times a year, is chaired by the minister and is responsible for the life and worship of the church. The Kirk Session also delegates certain routine matters to the Finance Committee and the Fabric Committee as appropriate.
Dundee: Klngsgalt Klrk Church ol Scotland Trustees, Report for the year endod 31 December 2024, conl. Reference and Admlnlstrative Inforniatlon Trustèes The Trustees of Dundee." Kingsgait Church of Scotland comprise all mombers of the Kirk Session. Details of 211 those who havo served as a Truste6 during the year to 31 December 2024 and up to the date of the signing of this report are as follow8..
Dundee: Klngsgalt Kirk Church of Scotland Truslees, Report for the year ended 310ecember 2024, cont. Registered Name of Congregatlon: Dundee: Kingsgait lQ'rk Church of Scotland Principal Offl¢e-bearers Mlnlstsr: Sesslon Clerk: Congregational Treasurer: Prlnclpal Office: Charlty Registration Number: SC011775 Congregatlon Reference No: 291775 Audilor. ere CCOL*ntants Chap6lshade House 78 - 84 Bell Slreel Dundee DD1 1RQ Bankers: Bank of Scolland Murraygale Branch 65-69 Murraygate Dundee DD12EA
Dundee: Klngsgalt Kirk Church of Scotland Trustees, Report for the year ended 31 December 2024, cont. Trustees, Responsibilities in Relation to the Accounts The charlty trustees are responslble preparing a trustees. annual report and 8ccounts in acrdanCe with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Acceptable Accounting Praclice). The law applicable to charities in Scotland requlres the charlly Irustees to prepare accounts for each yearwhich show a true and fair view of the state ofaffairs of the charityand ofthe incoming resources and application of resources for that period. In preparlng the financlal accounts. Ihe trustees are requlred to: Select suitable accounting policies and Ihen apply them consistently. Observe the method and principles in the applicable Charities SORP-, Make judgements and estimates that are reasonable and prudent. Stale whether applicable accounting standards and statemonls of recommended pradice have been followed, subject to any material departures disclosed and explained in the accounts.. Prepare the accounts on thè going concern basis un18SS it is inappropriate to presume that the ch8rily will contlnue in operational existence. The trustees are responsible for keèping proper accounting records which disclose with reasonable accuracy al any time Ihe financial position of the charity and to enable them to ensure that the accounts comply with the Charities and Tfuslee Investment (Scotland) Act 2005 and the Charities Accounts {Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of tho charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible forlhe maintenance and integrity of the charity and financial information on the congregation's website. Legislalion in the Uniled Kingdom gDveming the preparation and dissemination of accounts may differ from legislalion in other jurisdictiDns. Approved by Ihe Trustees and signed on their behalf, ession er Date- 10
Dundee: Kingsgait Kirk Church of Scotland Independent Auditor's Report To the Trustees of Dundee: Kingsgait Kirk Church of Scotland Opinion We have audited the financial statements of Dundee.. Kingsgait Kirk Church of Scotland f(y the ear ended 31 December 2024 which comprise the statement of financial activities, the alance sheet, the statement of cash flows and notes lo the financial st8lements, includin9 significant accounting policies. The financial reporting framework that has been applied in their reparalion is applicable law and United Kingdom Accounling Standards, including Financial eporting Standard 102 The Financial Roporting Standard applicable in the UK and Republic of Ireland (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 Ihen ended., have been properly repared in 8ccordance with United Kingdom Generally Accepted Accounting ractice,. 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 as amended). Basis for opinion We conducted our audit in accordance with Inlernational Standards on Auditing (UK) {ISAs (UK) and applicable law. Our responsibilities under those standards are further described in Ihe uditors r8sponsibilities for the audif of the financi81 statements section of our report. We are independent of the 9roup and charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including Ihe 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 accounling in the preparation of the finanal slatements Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions Ihal, individually or collectively, may cast significant doubt on the grou months and charity's ability to continue as a going concern for a period of at least Iwelve rom when the financial statements are authorised for Issue. Our responsibilities and the r6sponsibililies of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiallon The other information comprises the informalion included in the annual report other than the financial statements and our auditols re ort thereon. The trustees are responsible for the other infomiation contained within the annua report. Our opinion on the financial slatements does not cover the other informalion and we do nol express any form of assuran conclusion ther8on. Our responsibility is to read Ihe other information and. in doing so, consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othetwise appears to be materially misstated. If we identify such mat8rial inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement In the financlal statements themselves. If. based on the work we have performed, we conclude Ihat there is a material misstatement of Ihis other infomation, we are required to report that fact. We have nothing lo report in this regard.
Dundee: Kingsgait Kirk Church of Scotland Independent Auditor's Report To the Trustees of Dundee: Kingsgait Klrk Church of Scotland Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not Sdentified material misstatements in the Tnjslees, Report. We have nothing to re ort in resped of the following matters in relation to which the Charities Accounts (Scotland) egulations 2006 las amènded) require us lo report lo you if, in our opinion.. the infomiation given in the financial statements is inconsislenl in any material respect with the Trustees, report., or proper accounting records have not been kept., or the financial statements are not in agreement wllh the accounting records,. or we have not received all the information and explanalions we require for our audit. Rosponslbllltles of trusteos As explained more fully in the statement of Trustees, responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such Internal control as the trustees determine is necessary to enable the preparation of financial statements thal are free from material misstatement. whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to 9oing concem and using the going concem basis of accounting unless the trustees elther Intend to cease operations, or have no realistic alternative bul to do so. Audltor's responslbilities for the audit of the financial statements We have been appointed as auditor under section 44{1) Investment {Scolland) Act 2005 and report In accordance wil c) of the Charities and Trustee made or having effect thereunder. the Act and relevant regulations 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 an auditols report that includes our opinion. Reasonable assurance is a high level of assurance bul Is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatemenl 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 economlc decisions of users taken on the basis of these financial statements. Irregularities, includlng fraud, are instan$ of non-complian with laws 8nd regulations. We design procedures in line with our responsibilities, outlined above, to delect materSal misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. 12
Dundee: Klngsgalt Kirk Church of Scotland Independent Auditor's Report To the Trustees of Dund88: Klngsgait Kirk Church of Scotland The charity is sub'ed to laws and re9ulations that directly and indirectly affect the financial statements. Base on our understanding of the chanty and its environmont, wè IdentIfd that the principal risks of non-compliance with laws and regulations related to.. health and safety; GDPR. employment law,. 8nd compliance with the Charities and Trustee Investment Iscotland) Act 2005 and the Charilies Accounts Regulations 2006. We considered Ihe extent lo which these laws and regulations might have a material effect on the financial statements. Audit proGedures performed by the engagement team included: discussions with management, including consideration of known or suspected instances of non-compliance wilh laws and re ulations, including fraud- enquirin of management as to actual and po review ol legal fee expendilure. ential litKJation and claims: identifyin and assessing Ihe deslgn effectiveness of controls that management has in ace to prevent and delect fraud and non-compliance with laws and regulalions., challenging assufnptions and judgements made by management with regard lo the signrficant accounting estimates Idenlified., performin9 analWical procedures to Identrfy an unusual or unexp&clod relationships, Inv6slig81ing Ihe rationale behind sign InI or unusual transactions and agreeing financial statement dlsclosures ID undedying SUPPDrting documentstion. and auditing the risk of management override of controls. includin9 through testing journal entries and other adjustments for appropnaleness. A further description of our responsibilities is available on the Financial Reporting Council's website at= https:Ilwww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditovs report. Use of our report This r6POrt is made solely to the chari 's trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scot and) R& ulations 2006. Our audit work has been undertaken so that we might state lo the charit s trustees those matters we are required to slate to them in an audito¢s report and for no other purpose. To the fullest extent pemitted by law, we do not acp1 or assume responsibility lo anyone olherthan the charity and the charity's trustees as a body. for our audit work, for this report. or for the opinions we have fonned. For and on behalf of MMG Archbo Chartered Accountants Chapelshade House 78-84 Bell Street DUNDEE DD1 1RQ ory Auditor Date.. MMG ArchtK)Id Limited is eligible for appointment as auditor d the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 13
Dundee: Kingsgait Kirk Church of Scotland Statement of financial activlties for the year ended 31 December 2024 UnTestrlet¢d Restricted Endown*nt Unrestricted Restricted Endowment Funds 2024 funds 2024 fund5 2024 Total 2024 Restated Total 2023 Funds 2023 Note Funds 2023 Funds 2023 Income and endowmènts from: Donations and legaues Charitable activtiies Other trading actiMti8s Investm8nts Other- General Trustees Total Èn¢omo 470.901 2.939 473,840 74.781 2,702 77,483 596 68,800 46,728 73,258 17,629 73.258 61.127 68,800 7.670 25,097 18,401 23,687 15,371 Expendlture on: Raising funds Charitable a¢bVa$ Total expenditure 268 228 239 178 178 271701 204 214 228 507 20 Nel In¢omellexpenditurel befor• gain5 and losses on investments Net gainslllossesl on Invèstments 333381 {15A26} 18A01 336.256 111,7681 18,185 15,371 21,788 10 1,372 190 83.066 84.628 5.486 761 110.558 116,805 Net14xpendlturèifincom• 334,653 115.2361 101.467 420.884 16.2821 18,946 125.929 138,593 Transfers ben Funds 10.716 5.476 (16,192) 9,369 4,106 113.4751 Net mov•ment in funds Reconciliation of funds: 345,369 19,7601 85.275 3,087 23,OS2 112.454 738,593 Totsl funds brought forward 581,867 224.114 1,198,741 2.004,722 578.780 207,062 1,086287 1,866.129 Total funds carried fornard 927,236 214,354 1,2M016 2,425,606 581,867 224,114 1,198,747 2,004,722 14
Dundee; King5gait Kirk Church of Scotland 8alance Sheot at 31 De¢8mber 2024 As Restated Total Funds 2023 Total Fund$ 2024 Unr¢strlGt8d Restricted Endowment Funds Funds Funds Note Fixed Assets: Buildin9S Investments 302,100 151.700 302,160 1,281.354 1,454,102 302,180 1,369,472 10 21,048 Total Fixed A88¢ts 453.860 21.048 1,281.354 1,750,262 1.671.632 urrent Assets: Debtors Cash al bank and in hand 11 11 27.019 461,816 5,95S 187,351 32,974 651.829 67.943 267,968 2.662 Total Current Ass•t$ 488,835 193.306 2.662 684.803 335.911 Llabllltlgs: Creditors fomowlng due wllhln one year 12 115,459) {15.4591 12.821) Net Curr¢nt As$ets 473.376 193,306 2.602 069,341 333,090 Net Assets 927.236 214,354 1.284.016 2.425,606 2.CK)4,722 The funds ol tho charlly: Unrestricted fijnds ReslriGted funds Endowment funds 14 14 14 927,236 927,236 581,867 214.354 224.114 1,284,016 1.198,741 214,354 1,284.016 Total Charlty funds 927,236 214.354 1.284,016 2.425.606 2,004.722 The Accounts were approved by tho tiuslees on 17121 and stgt*d on their behalf by: ar 15
Dundee: Klngsgait Klrk Church of Scotland Statement ol ¢ashflow$ for the year ended 31 December 2024 Restated 2023 Noto 2024 Cash flows from operatlng actlvitles Cash 98nèrated from operallons 17 322,734 167,6791 Investlng a¢tlvities Investment income received 61,127 46,728 Net cash used In inv8Stlng actlvltS08 61.127 46.728 Net Increase In cash and cash equlval•nt$ 383,861 120,9511 Cash and cash equlvalenls al beglnning of yeor 267.968 288,919 Cash and cash equivalents at gnd of year 651.829 267,968 16
Dundee: Klngsgait Kirk Church of Scotland Accounting policies The principal accounting polici9s. which have been applied conslslenlly In the current and precedlng year in dealing with items which are considared material to th8 accounts, are sel out below. Basls of preparation The accounts have been prepared in accordance with Accounling and Reporting by Charili95= Slal8mgnt of Recommended Practicè applicable lo charities preparing their accounts in accordanco with Ihe Financlal Reporting Standards applicable in the UK and Republlc of Ireland {FRS10216ffeclive 1 January 2019 and the Financial R8POrting Standard applicable in the UK and the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS1021. the Charities and Trustee Inveslmenl (Scollandl Act 2005 and the Charlties Accounts {Scotlandl Regulatlons 2006 las amended). The accounts are prepared underthe hlslorlcal cost convenllon modified by the revaluation of investments and include the r8siJlts of the Church's operatlons, all of whlch are continuing. Th8 accounts are prepared in sterling. which is the functional currency of the charity. Monetary amounts in Ihes• accounts are rounded lo the nearest £. Golng concern The accounts have beèn prepared on a going concem basis. Thè Iwslees havo assessed the financi81 position of the Church, including the level of reseNes held. 8xpected future income and expendiluT8, and the contlnued support of the congregation. Bastsd on Ihls review. the trustees have a reasonabla expectation that the Church has adequate resources lo continue in operational existence for the foreseeable future. Accordingly, the going concern basis has been adopted In preparing Ihesa accounts. Fund accountlng Funds are classlfied as ellher resllicted funds or unrestricle¢J funds. defined as follows.. Restrlcted funds are funds subject lo specific requirements as lo their use, which may be declared by Ihe donor or with their aulhority or Grealed Ihfough legal processes, bul still within the wider objects of the charity. Endowment funds are funds which have been given on the condition that the original capital sum is not reduced. bul the income therefrom Is used for the purpose defined In accordance with the objects of the charity. Unrestricted fiinds aro axpendable al Ihe discretion of the Iruslees in furthgrance of the objects of the chaiily. If parts of the unieslricled funds aro eam)arked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an adminislratlve purpos8 only and does not legally restrKI the trustees, discretion lo apply the fund. Income Income is recognised when the charty has the entitlement to funds. any p8rfom)8nce conditKJns attached to the item of income has been met. il is probable that the income will be received and the amount can be m&asured rellably. Donations are recognised when the Church has been nolifled in writlng ofbolh the amount and settlement dale. In the event th81 a donation is subject to conditions that require a level of performance before the charity is enlilled to the funds. the income is deferred and not recognised until either those conditions ar8 fully mel, OT the fulfilment of those wndilions is wholly within the control of the charity and it is probablè that those conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following confirmation when the adminlslratorl executor for the eslale has commurkicaled in writing both tha amount and selllemenl date. In the event that the gift 18 in lh8 form of an asset other than cash or a financial asset traded on a recognised stock exchange, recoonilion is sublecl to the value of the gift being reliably measurable with a degree of reasonablg accuracy and th& tillè to the asset having been Iransfeff8d lo the chaTIty. Interest on funds held on deposit is included when receivable and the amount can be measured rellably by the charlly., this is normally upon nollfication of the interest pakl or payable by the bank. 17
Dundee: Kingsgait Kirk Church of Scotland Accounting pollcles (cont.) Income Icont.) Dividends are recognised Oft tho dlvidend has been declared and nolificalion has been receivgd of the dividend duo. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligallon committing the charity lo that èxpendilur8, 11 is probable that selllement wlll be required, and Ihg amount of the obllgatlon car) be measured rellably. All expendltur8 is accounted for on an accruals basis. Support costs have not been separatety identilied as the Iruslees conslder Ihere Is only one charitable aclivlly. Therefore support costs relate wholly to that actlvity and have not been separalety idenlilied. Fixed assets The charity has the right lo occupy and use for hs charitable oblecls certain langSble fixed assets, princlpally the St Andrew's building church, h811s and car park and the Meadowside Sl Paul's church hall buSlding and garden vested in the Church of Scouand General Trustees. No consideration is payab18 for the us& of these assets. The lille of the MSP church building is held locally and no valuation is available. Expenditure Incurrod on the repair and maintenance of Ihase assets is Charged as expendilure in the Statoment of Financial Activities in the pertod in which the liability arises. All tangible fixed assets costing in excess of £3,000 and having a valu8 lo the charity greater than one year, other than those acquired for specific purposes, arg capiialised. Depreciation is provided on a 8lraight-line basis to write off the cost or initlal value. less residual value, of tangible fixed assets over Ihelr esllmaled useful lives. A manse was bought in April 2019. This property is shown In the accounts al the trustees, valuation as al 31 December 2024. Depreciation has not been providgd as. in the opinion of Ihg Iruslegs, due lo the long useful economic life of the propety and high residual value, any depreciation Charge and resultant accumulated deprecSalion Is Immalorial. In the opinion ofthe trustees, no Impairmentof the carrying value has occurreé dufing the year. Inv•$tment Fixed asset illveslmen15 are slated al fair value at the tsaran sheet dale. Unrealised gains and losses represent the drfference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value al the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value al the start of the year or cost if purchased in the year. Taxation Dundee.. Kingsgait Kirk Church of Scotland is re¢ognis8d as a charlty for the purposes of applicabl8 taxation 18gislalion and is therefore not subject to taxation on its charitable act6vili&s. Th8 charity is not registered for VAT and resources expended therefore include irrgcoverable inpLrt VAT. However. u$8 IS made of the Listed Places of Worshlp Scherne, enablSng VAT rellef on ellglble expenditure. Debtors Trade and other debtors are recognlsed al the s8lllemenl amount due. Prepayments are value¢J at the amount prepaid. Cash at bank and In hand Cash at bank and in h8nd includes cash anij cash held In a deposll or slmllar account. Cr8ditors and provlslons Creditors and provisions are r8cognised where the chaiity has a present obligation resulting from a past event that will probably SLI1¢ in the Iransferof funds lo a third party and amount due lo settle the obligallon can be measured or eslimaled rellably. Ciedilors and provisions are nom)ally recognised at fheir settlement amount aftor allowing for any trade discount. 18
Dundee: Kingsgait Kirk Church of Scotland Accounting policles (cont.} Financial Instrumonlg The charity ot)ly has financlal assets and financlal liabllilles of a kind that qualSfy as basic financial instruments. Baslc financial instwments are InltlalSy recognised al Iransacllons value and subsequently measured al thelr settlement value. Critical account estimateg and judgements In the application of the charity's accounting policies, the Iwslees are required lo make judgements, eslirnalÈs and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions afe based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revised on an ongoing basis. Revisions lo the accounting eslimales are recognised in the period in which th8 estimate is revised where the revision affects on that period, or in the pellod of the revision and future periods where the revision affects both the current and futuro periods. In preparing these accounts. the trustees have made the followlng ludgemenls.. Dèpreciatlon Tangible fixed ass6ts are depreciated over a pèrlod lo reflect Ihelr estimated useful life. The appllcabilily ol the assumed lives is reviewed annually. taking Into account factors such a5 physical condltion, maintenance and ob50lesnce. Accruals Accruals are applied atthe year-end based upon financial costs incurred postyear end and the experience of the Trustees. 19
Dundee: Kingsgalt Kirk Church of Scotland Purposes of Re5trlcted. Dgslgnatèd and Endowment Funds Purpos9$ of Endowment Funds Robertson, Byres, Carmichael, W Deuchars, Craig, Chambers, Cairncross and E Deuchars B9qLtesl8 and Congregational Trust Fund Income from these funds is dislribulable al tha discretion of Kirk Session for the benefit of the Congregational Account. Wilkinson Memorial Fund, Kirk Session Benevolent Fund, Scoll Bequest and Common Good Fund Incom8 from these FLtnds is allocated lo Charitable causes al discretion of the Mintsler. Kydd, Nicholson, Dargie and Tomlinson Bequgsts Income from the funds is allocated for the benefit oflh8 250 Fund. Lllburn Memorial Fund Income from Ihls Fund is usod for the benefit of the Garden Fund. Gow, Hunler Bequest and Ogilvy-smllh Youth Fund Income from these funds Is used for the benefit of Youth Organisations within the Church. Boys, Brigade Following the fjnd of the Sl Andrew's Parfsh Church Boys, 6itgade Company funds held in their name have been transferd lo the safe custody of the Church Tr&asurer. Findlay and Camegie Bequests Income ffom these FurKIs is usgd forthe benefit of the Sunday Stars and Sunbeams. Simpson Memorial Fund Income from U)Is fund Is used lo defray the cost of decorating the font for Christenings and for the presentation of floral gifts lo the babies. Dorcas Fund & McKeg Bequest Income from these funds is used lo provide fruit and flowers for the distribution lo the elderly, infirm and housebound. James Arthur Fund - Capital Legacies invested lo provide income lo be used lo meet the needs of people within various categories who may be regarded as in poorer circumstances due to their current financial. social. physical or m&ntal challenges,. we have a h@art lo the benefit of momb8rs, adherents and those associated with congregational life who may b8 challenged by their need. Purposes of Restrlcted Funds Organ Maintenance Fund Incomg from Ihls fund is accumulated lo provlde for futijre maintenance of the church organ. 20
Dundee: Klngsgait Klrk Church of Scotland Purpose$ of Restrlcted Funds Icont.) Garden Fund Income from Ihls Fund is used lo mailltsin the church gardens. The 250 Fund Income and expenditure from Ihls Fund is for the purpose of a major redesign oflhe church, in reodSness for our2501h anniversary, lo improve access to the buildings. environmental elriciencies and other redesign improvements. Roof Fund Restricted funds raised to cover the cost of the roof repalr. Flower Committee Income from this fund is used lo detray the cost of the flornl decoration of the chancel for services and other occasions. James Arthur Fund- Revenue Funds lo be used lo meet the needs of people wilhln various calegorles who may be regarded as in poorer Cifcumslances due to their current financial, soclal, physical or mental challeng9S,' W8 have a heart to the benefit of members, adherents and those associated whh congiegatlonal life who may be challenged by Ihelr noed. Funds lo be used lo aid children connected with our chUh In ways that would be spitilLfally or practically helplul to them. Legacy for the Deprived Children of the Sunday Club Splre Repalr Fund Funds to be used lo meet the cost of emeTgency and major repairs to the Spire and roofs of the Church building complex. Funds to be used to ralse the profile of music in the church lrfe of Meadowside St Paul's and in Dundee city centre. including work with the homeloss. Music Development Fund Purposes of Unrestrlcted Dgslgnatgd Funds Income from thls fund is Intended to be used to develop the use of Information Technology with the Church both for Worship and for admlnlstratlon. IT Developmont Fund Wyvern Account Subs1p110nS lo an(J the costs of the church mBgazlne Yhe Wyvern" aro allocated here. Fabric Account Income from this Fund Is used lo malnlain the Fabric of the church. The Trustees, from time lo lime, will also approve the transfer of additional fLtnds to meet expenditure. Traidcraft Fund The Traidcraft Group promotes the use of fairly-trad8d products within the Church and beyond. It operates a Traidcraft Slall on Sundays and other open days. Sunday Stars & Sunbeams This group provides for the educational needs of our younger members (up to secondary school egel on a Sunday. It is fully funded by the Congregallon. Thls groLtp provides for the educational needs of our younger members (beyond primary school age) on a Sunday. 11 is fully funded by the Congregallon. Sunday Seekers Fund 21
Dundee: Klngsgait Kirk Church of Scotland Purposes of Unre$trl¢ted Deslgnatlon Funds, ¢ont. Church of Scotland Guild The funds of this group a usgd to defray the costs of the Guild, give 5UPPOrt lo local oharilies and support the national Guild projects.11 Is self- supporting, benefits from the income from legacies left by former membors and giv&s financial support lo th& congregation. The funds of this group are used to defray the costs of the club.11 is self- funding bul recelves the support of the congregallon wher6 required. Vsed lo support Dorcas Society projects, including the provision of handcrafted clothes for dlsadvantaged children al home and abroad. Used lo meet any oxtraordinary expense. Bowling Club Fund Dorcas S(Kiely Account Special Provision Fund Developmgrit Fund Used, in the first instanc6, lo aid eongregatlonal development through mlsslon and outreach. General Benevolent Fund Used lo help the needy and assorAaled worthy causes. U$8d lo provide a residence for the minister of the Congregation. Used lo resourca the Surbday Club. Manse Fund Sunday Club Resources Fund L & J Woalherhead Fund Used for church purposes that benefit the Ilfe and $8Nice of the Congregation. Youth Organisalions Fund Used, in lh8 first instance. to resource the youth organisalions associated with tha Congrggallon and that are of benefit lo the parish. Flower Fund Used, in th8 first instance, to provid8 flowers for the sanctuary and for dSstribulion to the sick, housebound. beieaved, elc. 11 may also be used for the servicing of articles connected wlth the sanctuary. Purposes of Ggneral Unrestrlctèd Funds Reserve Account Income from Ihls Fund is used lo meet expenditure whlch does not squarely sil within any other allocation. In times of deficit il can be LEsed to meet shortfalls in Congregalional income. Fund Raising Group Thls Fund represents the accumulation of fundraislng activities over the years and is available lo cover shortfalls in income. 22
Dundee: Kingsgait Kirk Church of Scotland Nt*es to the Accounts Totsl fvnds 2024 Total Funds 2023 Unrestrl¢ted funds Rtstrfded funds endowment funds Unrestricted Funds Restred Endowment Funds Funds 1 Donations and Legacies Free Will Offering5- Not Under Grft Ad Free Will Offerings- Under Gfft Donations Under Grft Tax R8eoverable on Gift Aid Donations Ordinary Offerings- Open Pkte Wyvem Donaknons Grants Contributions from Church OnISatIonS Rower Committee Donatn5 Weddings, Funerals & Baptisms Legacses other donatSons 6,572 11,112 36,472 13,501 3.2S3 4310 14,409 34.535 13,062 1733 4310 14A09 34.535 13,062 2,733 42 6,572 11.112 36,472 13.501 3.253 134 180 1.000 1,000 1,992 315 397.089 4173 1.992 1,975 1.975 1,189 315 397,089 3,226 1.189 947 2,548 727 3.275 470,901 2,939 473,840 74,781 2,702 77,483 2 In¢ome from charftabla actlvltiès Sale of TraKlcraft goods Other fundrnising $47 49 547 49 596 596 3 Income from other trading a¢tivrti•$ Car Part re¢wpts Premises rent Use of pMIseS Weekend Café 16,965 29,180 25.472 1,641 16,965 29,180 25.472 1,641 16,940 26.667 23,735 1,458 16,940 26,667 23,735 1,458 73,258 73,258 68,800 68,800 23
Dundee: Kingsgait Kirk Church of Scotland Notes to the Accounts (¢ontinued} Total Funds 2024 Unrestricted Restricted Endowment funds funds funds Totsl Funds 2023 Unrestricted Restricted Endowment fvnds fsjnds funds Investment Income Dividends receNed Deposit interest 8,230 9,399 24.085 1,012 18A01 50.716 10,411 6.858 812 22.775 912 15.334 37 44.967 1,761 17,629 25.097 18.401 61.127 7,67Q 23,687 15.371 46.728 Analysis of Expenditure Raising Funds Offering Envelopes 268 178 178 178 178 24
Dundee: Kingsgait Klrk Church of Scotland Totsl Funds Unrestrlcted Restricted Endowment 2024 funds fttnds funds Total Funds 2023 Unrestricted Restricted Endowment funds funds Funds Analysis of Expenditure IconLI Charitable Expenditure GNing to Grow Allocation Presbytery Dues Ministerfs Travel & Telene Manse expenses Pulpit Supply Other salary costs FabriG Repair & Maintenance Car park rates Insurance Church Office expenses Cost of Traidcrdft 9oods Heating & Lighting Garden expendi(ure Independent Examinerfs Fee Accountancy fees Audit fee Equipment purchased other expenses 76,195 2,838 960 10.156 300 25,353 38.461 5,982 15.992 2,319 83 29.447 1,787 76,195 2,838 960 10,156 300 25.353 74,356 5,982 15.992 2,319 58,561 1,758 1.982 9,591 740 22,957 59,981 5,382 12,799 1,288 1.600 12,328 58.561 1,758 1,982 9,591 740 22,957 61,436 5.382 12.799 1,288 1.600 12,328 1,930 3,480 35.895 1,455 29,447 2,794 1,007 1,930 3.480 3,182 7.309 2,190 5,685 3,182 7.309 2,640 11.795 450 6,110 7,224 6.500 7.224 11.319 4,819 228,239 43.462 271,701 206,171 8,204 214.375 Support costs have not been separately identified as the trustees consider there is onty one charitable activity. Therefore, support costs relate wholly lo that activity and have not been separately identified. 25
Dundee: Kingsgait Kirk Church of Scotland Ntsies to thg Accounts (contlnued) Staff costs and numbor8 2024 2023 Sa18ries and wages Swial Security Costs 25,353 22,957 25.353 22,957 Th8 average number of employees during the year was as lollow8'. 2024 Number 2D23 Number ChLTrrch Officer Finance Co-ordinator Organist and Choir Master Cleanar All Church of Scotland congregations conlribule lo the National Stipend Fijnd which bears the cosls of all minisl@rs' stipends and employ8rfs contributions for national insurance, pension and housing and loan fund. Minlslars. sliponds are paid in accordance Mlh the national stipend s¢al8 which is related to years of sarvico. For the yaar under review the minimum stipend was £31.642 12023 £30.135} and the maximum stlP8nd lin Ihe frfth and subsequent y¢arsl was £38,884 {2023- £37,032). Trustee remunerati One Trustee received relmbursement of expenses lotalllng £4,95312023-£4,9631. Dufing the year. a total of£27,018 was donated lo the congregation by Iruslees (2023.- £Z9,659). This sum excludes any donations glven in cash through th8 open plate, which cannot b8 separately idgnlified. 26
Dundee: Kingsgait Kirk Church of Scotland Notes to the Accounts (contlnuedl TangSblg Flxed Assets Fre8hold Property 2024 2023 Valuatlon Cost at 31 December 2024 & 2023 302.160 302,160 302,160 302,160 Accumulat8d dèpreclation Al 31 December 2024 & 2023 Not Book Value At 31 Oecember 2024 & 2023 302,160 302.160 Tangible Fixed Assets were £302,160 (2023- £302,160) all of which was Unreslficled. As Restated 10 Investments 2024 2023 Market value al 31 DeGember 2023 Unrealised gains l {Ios8esl on Inveslm8nls 1,369,472 84.630 1,252,667 116.805 Market valuo at 31 Docembor 2024 1.454.102 1.369,472 Investmgnts at ¢ost 504.822 504.822 The following investments 8re held: 60,000 Alliance Trust PLC 27.145 Dunecsin Income Grovrth Investment Trust PLC 26.971 Allianz Global Investors 38,057 JPM UK Higher Income Fund 50.700 The Church of Scotland Investors Trust Income Fund 746.400 73,563 54.131 19,264 560,744 667,200 76,549 51,784 18.267 555,672 1.454,102 1,369,472 Investments were £1.454,102 (2023.. £1,369,472) of which Unr8slricled funds were £151,700 (2923.. £150,327). Rostricled funds were £21,048 (2023.. £20,857) and Endowments were £1,281,354 (2023.. £1, 198,288). 27
Dundee: Kingsgait Kirk Church of Scotland Notes to tho Accounts {contlnuedl 11 Curront Asset$ 2024 2023 Dèbtors Gift Aid lax refund due Other deblors 12,934 20,040 13.182 54,761 32,974 67.943 Cash Cash at bank and in hand 651,829 267,968 Total Current Assets 684.803 335,911 Debtors were £32,97412023.- £67,943) of which £26,765 was Unr88lricted12023.' £62,511) and É5.955 was Reslrictod (2023.. £5, 1781. Cash was £65f,829 (2023.- £267.968) of which £4E1.816 was Unrestricted (2023.- £69,436), £187.351 was Restricted {2023.- £198,OT9) and £2,662 was Endowment (2023.. £453J. 12 redltors 2024 2023 Accruals 15,459 2,821 15,458 2.821 Creditors of £15,459 (2023.. £2,821) were all Unrestrfcled funds. 13 Anaty$ls of Net Ass•ls betwoen Funds Unrastrlctsd Restrlcted Endowment Total Fixed Assels Current Assets Current Liabilllies 453,860 488,835 {15.4591 21,048 193,306 1.281.354 1.756.262 2,662 684,803 {15.459} Ngt assets at 31 Decembor 2024 927.236 214,354 1,284,016 2,425,606 Restatgd Total Unrestrlcted Reslrlcted Endowment 2023 comparatives Fixed Assets Current Assgls Current Liabilities 452.A187 132,201 12,821) 20.857 203,257 1.198,288 1.671,632 453 335.911 12,821} Ng1 assets at 31 Decgmber 2023 581,867 224,114 1.198,741 2,004,722 28
Dundee; Klngsgait Kirk Church of Scotland Notes to the A¢counl$ Iconllnuod) 14 Mov8mont In funds At1st Reallsedl January Incoming Outgolng Unreallsed 2024 Resources Resources Galns Transfors At31st Dotember 2024 Endowmont Funds Gow Memorlal Fund Kydd Bequest Nicholson Bequgsl Dargie Beouesl Congreg21iDnal Trust Fund Tomlinson Bequest Chambers Bequest W D8uchars Bequest Byres Bequest Cralg Beqijest Cairncross Bequest Wilkinson Memorial Fund Klik Session Benevolent Fund Scoll Bequest Robertson Bequest Carmichael EndOWnI Lilburn Memorial Fund Hunlgr Bequest Ogilvy-smith Youth Fund Flndlay Legacy C8rnegie Bequest Boys, Brigade Simpson Memorial Fund Dorcas Fund McKee Beque51 E DeuGhars Bequest James Arthur Fund- C8pII81 12.131 5,644 21.574 24,749 48.074 30.824 22,566 30,462 6,532 6,143 8.599 5,241 2.030 721 56.390 514 5,187 426 2.459 1,428 773 14,128 699 770 8.134 20.377 862,166 772 355 1,382 1,278 2,987 1,597 1.180 1,652 358 298 417 338 129 59 230 213 13,032 5.703 21,804 24,962 48,572 31,090 22.763 30,737 6.592 6,193 8,669 5,635 2,030 721 56,905 519 5,235 13551 11,3821 {1,2781 (2.987) {1.597} 11.1801 {1,6521 (3581 12981 1417) 266 197 275 60 50 70 56 3,087 28 285 19 215 107 43 507 515 13,087) 128) {285} 48 36 18 2.710 1,446 11071 1431 85 14,720 699 774 8.552 20.563 942,162 23 358 1,115 1231 (1.115) 79,996 1,198.741 18,401 83,066 {16,192) 1,284.016 29
Dundee: Kingsgait Kirk Church of Scotland Notes to the A¢UnIS Icontlnued) 14 Movgmonts In funds (contlnuodl At 1st Reallsedl January Incomlng Outgolng Unrealisod 2024 Resourcgs Rosourc08 Galns Transfers At 31st Decembor 2024 Rostrlctsd Funds OrgarTr MalnlenanGe Fund Garden Fund The 250 Fund Flower Committee James Arthur Fund- Revenue Legacy for the Deprived Children of the Sunday Club Splre Repair Fund Music Development Fund 6.511 22,531 32,106 3,120 146,020 291 851 947 1,992 23.514 1450) {1,0071 135,149) (2,3141 14,542) 48 942 6.400 22,802 2.515 3,378 164,992 285 4,611 9,789 2,327 1,710 10.230 2,327 1,710 224,114 28,036 (43.4621 190 5,476 214.354 Unrestricted Funds Unrestrlcted Deslgnated Wyvern Account Fabrfc Account Church of Scotland Guild Common Good Fund Traidcraft Fund Sunday Stars and Sunbeams Sunday Seekers Bowling Club Dorcas Society Account Special ProvlsFon Fund D&velopmenl Fund General Benevolent Fund Manse Fund Sunday Club Resources Fund L & J Wealherhead Fund Flower Fund 42 28,337 2.732 1758) (42,9101 (2.260) 716 76.470 33.042 4,112 493 276 62,390 33.790 4,112 {9041 458 300 521 21,092 43,884 5,958 2.260 302.160 183 7.420 971 458 {300) 248 1107) 662 21,091 46,064 7.314 2,265 302,568 483 7.420 1.008 1.898 1,356 282 300 {1.4371 1,254 37 183 499.735 36.317 (46,939} 1,234 {7211 489.626 Unrostrl¢ted General Reseive Account Fundraislng Group 51,647 30,485 525,471 {181,5681 138 11.437 407,125 30.485 82,132 525,471 1181,5681 138 11,437 437,610 581,867 561,788 1228,5071 1,372 10.716 927,236 Total Funds 2.004.722 608,225 {271.961} 84.628 2,425.606 30
Dundee: Kingsgalt Kirk Church of Scotland Notss to the Accounts Icontlnu¢d> 14 Movement In funds Restated At31st December 2023 At1st Reallsedl January Incomlng Outgolng Unreallsod 2023 Resources Resources Galns Transfgrs 2023 comparatlvos Endowment Funds Gow Memorlal Fund Kydd Bequest Nicholson Bequest Dargie Bequest Congregational Trust Fund Tomlinson Bequest Chambers Bequest W Deuchars Bequest Byres Bequest Craig Bequest Cairncross Bequest Wilkinson Momorial Fund Kirk Session Benevolent Fund Scott Bequest Robertson Bequest Camiichael Endowment Lilburn Memorlal Fund Hunter Bequest Ogllvy-smith Youth Fund Flndlay Legacy Carnegie Bequest Boys, Brigade Slmpson Mefflorlal Fund Dorcas Fund M¢Kee Boquest E Deuchars Bequest James Arthur Fund- Capital 10.972 5,408 20,653 23.897 46,083 29,759 21.779 29,360 6,294 5,944 8,321 4,734 2,008 713 54,332 495 4,997 399 2.137 1,356 744 13,367 692 736 7,598 19,634 763,875 643 295 1,151 1.065 2,489 1,331 984 1,377 516 236 921 852 1,991 I,Q65 787 1,102 238 199 278 225 12,131 5,644 21,574 24,749 48.074 30,824 22.566 30,462 6.532 6.143 8,599 5.241 2,030 721 56.390 514 5.187 426 2.459 1,428 773 14,128 699 770 8,134 20.377 862,166 {2951 {1,1511 11,065) {2,489) {1,331) (9841 11,377} 1298) {2481 {348) 248 348 282 22 2,573 24 238 15 179 90 36 423 2,058 19 190 12 143 72 {2,573) 124) 1238) 1901 1361 338 19 298 928 15 238 743 98,281 (928) 1,086.287 15.371 110.558 {13.4751 1,198.741 31
Dundee: Kingsgait Klrk Church of Scotland Movements In funds {continugdl A8 Restated At 31st Decemb&r 2023 At 1st R•#llsedl January Incomlng Outgoing Unreali58d 2023 Resources Resources Galns Translers 2023 comparatlves Restrlcted Funds Organ Maintenance Fund Garden Fund The 250 Fund Flower Committee James Arthur Fund- Revgnue Legacy for the Deprived Children of the Sunday Club Spire Repair Fund Music Development Fund 6,332 23,023 28,786 3,455 125.948 243 709 932 1,975 22.222 12581 12.006) {1,4551 (2.3351 (2.1511 194 667 6,511 22,531 32,106 3.120 146,020 238 3,843 25 9,481 2.327 1,710 308 9,789 2,327 1.710 201.062 26,389 (8,204) 761 4106 224,114 Unr8Strl¢t•d Funds Unrestrictod Designatod Wyvem Account Fabrlc Account Church of Scotland Guild Common Good Fund Traldcraft Fund Sunday Stars and Sunbeams Sunday Seeke Bowling Club Dorcas Soci&ty Account Speclal Provision Fund Development Fund General Benevolent Fund Manse Fund Sunday Club Resources Fund L & J Wealherhaad Fund Youth Organisalions Funds Flower Fund 1,205 78,555 26.956 4,112 1,957 458 300 521 21,092 41,203 4,740 2,256 302,160 183 8,938 134 74,004 2.526 11,480} 178,0591 15421 141 1.970 1.102 76,470 33,042 4,112 904 458 300 521 21,092 43.884 5,958 2,260 302,160 183 7,420 547 11,600} 1.554 1,218 1.127 1.024 13,374} 732 960 971 498,596 81,022 {84,9551 4,931 141 Unrestricted Goneral General Fund Fundraising Group 499,735 50,024 30.160 113,234 325 {121,394) 555 9,228 51,647 30,485 80,184 113,559 1121.3941 555 9,228 82,132 478,780 194,581 {206.349) 5.486 9.369 581,867 Total Funds 1.866,129 236,341 (214,5531 116,805 2,004,722 32
Dundee: Kingsgait Klrk Church of Scotland Notes to the Accounts Icontlnuedl 15 Collo¢tions for Thlrd Partlgs 2024 2023 Christian Aid Retirement Collection Ibalance of 2023 sum disbursed in 2024 along with late dor7ation) Poppy Scotland12023 amount disbursed in 2024 as W811 as 2024 donation) Just Bee Productions (balance of 2023 sum disbursed In 2024 along wSlh late donation in 20241 Muheza Hospital, Tanzania Dundee Women's Aid Inol disbursed al ye8r endl Transform Trade Inol disbursed al year endl Dundee and Angus Foodbank 1.435 1,471 11 62 60 55 250 345 145 745 170 2.302 3,080 16 Voluntsers In common with all congregations of the ChLtrch of Scotland, the congregation benefits from the contributions made by volunteers who give their time and talents willingly for the benefit of th8 Ghurch. The areas of congregational life which rely on the contribution of volunteers ar8 many and varied and much of the activity would be unable lo contlnue were il not for the commitment shown. As Restated 2023 17 Ca$h generatéd from operatl¢ns 2024 Surplus for Ihe y88r 420,884 138.593 Adluslments for.. Investment income recognised In sl8temenl of financial activities Fair value gains and tosses on inveslmenls {61.127} (84,6301 146,7281 1116,8051 Movements in working capital IlncreaseyDecreas8 in dgblors Increaselldecrease) In credltors 34,969 12,638 {41,728) (1,011} Cash generated from operatlons 322,734 167,6791 33
Dundee: Kingsgait Klrk Church of Scotland Not8S to the Accounts (contlnuedl 18 Prlor Yèar Adjustment The accounts have been restated as det85led below. R•¢onclllatlon of changès in equlty At 1 January 20rJ Effecl cf prfor A$ Note yearadlustmenl $lted At 31 D8¢ember 2tr23 Eflecl of prior year a(lusbn8nt As prevlous rewrted A$ prevlously r8P(thd slatsd Flxed Assets Buildlng Invesirnènts 302.160 1,252.667 302.160 1.252.867 302,160 1.341,513 3(Y2,160 27.959 1,369,472 Curront As$ots Debtors ash at bank 8nd on hand 26,215 288.919 26,215 288,919 67,943 267.968 67,943 267.968 Creditors due wHh year 13.8321 13,822 12,8211 12.8211 1,866,129 1,866.129 1,976,763 27,959 2,LNJ4.722 RoS•YV•S Unre51rfctsd funds R8$lricted fundB Endowment furKIs 578,780 201,062 1,086.287 578.780 201,062 1.086,287 581,867 224.114 1,170,782 581,867 224,114 27.959 1.170,781 1.866,129 1,866,129 1.976.763 27.959 2.LNJ4,722 A8 p¥w4ously ported Effecl of prior year adlustrnÈnl As Nole restsled RÈ811$edl Unre8lised Gain$ 88,846 27.959 116.805 Nbi movement In runds 27,959 116,805 A The adlustmgnt of t27,959 relat68 to Investments Ihalwere understated the attounts t¢ 31 DecEmber 223. 34
Dundee: Klngsgait Kirk Church of Scotland Appendix Funds hèld on behalf of the congregation by the Church of Scotland General Trustees 2024 2023 Consolldatsd Fabrlc Fund Balance at 31 Decemb8r 2023 Transfer lo Church for roof lopairs 65,938 65,938 Credit balance at 31 December 2024 Revonue Acoount Balance at 31 December 2023 AdmlnisIratsn fees Interest received 6.051 (2221 3,588 1691 532 Credit balance at 31 December 2024 35