The United Reformed Church National Synod of Scotland TRUSTEES, REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 UKicEd RÉForir)EcI Cbfjrrt) NJiifiopJiNI SY(? OF Scocliiwd CHARITY NUMBER: SC011907
TRUSTEES. ANNUAL REPORT For the year ended 31 December 2024 The Trustees of the United Refonned Church Synod of Scotiand (Synod) submit their Report for the year ending 31 December 2024 MISSION STATEMENT The mission of the Synod is summed up in its Aspirations. These are certainly not fixed in stone, but form a moving vision statement that says a great deal about who we are and aspire to be. OUR ASPIRATIONS INCLUSIVE Our Inclustve worship reftects a broad variety of sources and styles. Local churches offer weekly wo¥ship. regular celebrations of Holy Communion and maTk the stages of life in Baptisms, Weddings and F¥nerals. RADICAL We believe that God's rodicullove is for everyone regardless of age, gender, sexuality, physical and mental ability- Yourhg people are represented with full voting rights on our councils. UNCONDrrioNAL LOVE We are an active Chr15tian community which respond5 to the unconditioniJllove of God through ebrating the Christian Story in ways that bring meanin8 and hope to life. CREATION We believewe afe called to live in balance with the whole of creotion and our commitment to thls is a vital part of our mission plannin& often defined for us in the small things we can do in terms of re-cycling, green travel. planting trees, enerEV efficiency and strrving toward5 net zero. OTHER FAHs AND NONE DEVELOPMENT We place great value on our common humanity and are committed to all who work with us, from otherfGlth or none. We support the work of Interfaith Scotland and value the things we share. The Scottish College Icongregational & United Reformed) offer a dynamic programme for spiritual and faith developmentfor anyone wishing to explore Christianity or particular ¢allings in the life of the church. URC Youth and URC Children are growing youth and children's organisations within the Unitèd Refomied Church offering opportunities for learning and development amongst youth and children. JOURNEY PEACE ANDJUSllcE From its formation in 1972, the United reformed Church has been comrnitted to journey to ecumenism and is a member of the World Council of Churches and other ecumenical bodies. The Synod of Scotland works with partners through the Scottish Church Leaders Forum. We maintain links with the world church by engaging with Elobal partners such as the Council for World Mi55ion. Our commitment to peoce and justice 15 Strong and demonstrated through the Commitment for Life programme and Christian AÉd. We are a Fair Trade Church and support the work of the Scottish Parllamentary Offi.
OBJECTIVES AND ACTNITIES The pnncipal objects of the Syn(Kl, as a gathering of I(1 congregations are, the promotion of worship, fellowship, communication, mutual inspiralion and good ecumenical relab'onships in Scodand, support of Christ's mission at home and abroaj. encoijragement and &lwsing of local churthes and united action in pr(xlaiming the GosFel. The major activities undertaken by the Synod relate to the SUPFQrt and guidan provided to local churches lo enable them to better achieve Christ's mission th in relation to their (x)ngregalions and the wider community which they serve, and lo represent the (x)Ilective of congregab'ons in both the ecumenical and civic life of Scotland and kyond. During the year, the principal obFth'ves of the Syncxl were: 1. To continue resourcing and equipping the kKal church.. met through provision of supp)rt through staff time. educational opportunities and exPerienS of growth in the wider church. 2. To strengthen ecumenical links.. mel through the work of those responsible for ecumenical work, including ensuring support for ecumenical partnerships and engement with nalional ecumenical pathers. 3. Pursuing a collective aPPrh lo two challenging areas of church life.. finan and a reduced number of stipendiary Ministers of Word and Sacraments. 4. To monitor governan stNctures within the Synod Structures. 5. To continue the development of team and cluster working, in part responding to ministerial deployment. 6. To continue work to develop a new Synod Team and new ways of working. ACHIEVEMENTS AND PERFORMANCE During 2024 these objects'ves have been pursued in the following ways.. Resourcing and equipping the local church The Synod continues to offer supp)rt and advi to church secretaries. treasurers and safeguarding Co-ordinators in their work. Ministers are mandatorily required to engage in pastoral supetvision as a means of reflective practice The Syn¢)J conb'nues to support parkn'cular congregations with the challenges of buildings which are not suited lo the present4ay life of the church. Dunfemiline URC sold their building and during 2024, purchased a new venue with assistan from the Synod by way of a loan. Contributions towards the running of Syn(Kl from local congregations were again waived in 2024. However, Churches were encouraged and helped towards meeting energy costs by the continuing availability of grants from the Energy Crisis Fund. Congregations that benefitted from this were.. Peedie lQrk. Kirkwall, Augustine United, Edinburgh, Rulherglen, Naim, Newburgh, Priesthill. Annan, Barrhead, Slewarton, Port Glasgow, Saughlonhall. Bathgate, Dlbke Street and Drumchapel. Strengthening Ecumenical Links The Synod continues lo be represented ecumenically through the Scottish Churches Leaders, Forum. This is where senior leaders from each denomination collectively engage with each other on a regular basis. Their work is supp)rted by the Eujmenical Officers, Forum. We continue to work particulady with the Scottish Episcopal Church and the Scottish District of the Methodist Church through the EpiscopaS, Methodist and URC IEMUI Partnership. Our Synod Moderator currenuy setves as a trustee of Aots'on of
Churches Together in Scotland. The World Church continues to feature on the Synod's agenda as il explores new ways of such engagement. Through the year the Synod has again engaged with the communiks of other faiths through ils participation in Interfaith Scotland- and in civic matters through engagement with the Scothsh Churches Parfiamentary Office {SCPO} and the Joint Public Issues Team IJPITI. The sync Mission Committee helps to keep political and social matters, rtot least that of the environment, on the a3enda. Developing our Collective Identity The Synod conth'nues lo encourage local )ngregatiOnS through their participation in the wider United Reformed Church and the Ministry and Mission Fund of the denomination. The foTher is one source of leaming and developmental resources for congregations and the latter is the system used in the United Reformed Church to provide sts.ndS for ministers serving across the denominab'on. The Northerfy Syn(xl's grouping continues and is where we can offer mutual supp)rt to the ministry and mission of each of the 5 Northedy Syncds. A Transition Minister, part lime Ecumenical offir, part ts'me Children's and Inlergeneralional Ministry Development Officer and part lime Training Offir cx)mprise the Field Team, working together alongside the Synod Moderator. A redesigned website during 2023 ak)ng wtth changes to the E News were implemented along wslh continuing lo reach out via social media. Some of the congregatnS continue with live streaming of Sunday W0h1p first startgj during the paThJemic. Impmving govemance realised During the year. work continued on our SyncKJ struclures and g0veman. 2024 saw the various committees and the NoMir¢$ Ltd settle to new remits and new appointments. Safeguarding The Synod continued to buy into a Service Level Agreemenl vth Ihe Church of Scotland who provide training. advice and support with safeguarding work and risk assessments of activits. Work progressed throughout the year lo create the part lime role of Synod Safeguarding Administrator. FUTURE PLANS The Synod Pastoral Committee has agreed to undertake a rewewofthe poliry ofclustering congregations as a normal means of co-operation, and continues lo seek possible ways of ecumenical collaboob'on. The part time Safeguarding Adminislralor began *Drking with the SyncKI in April 2025. Work is Ltnderway lo appoint a new Treasurer and Clerk as Lxjth post holders have inb'mal8J their retirement al the end of 2025. We continue $kIng pla where ministy and mission might be devekJFed in different ways as we look to use our resources in ways that benefft the misston of the Unrted RefOned Church in Scotland. There is a need to offer SUPFK)rt with the effeclive use of technology in congregations so that they can develop streaming of worship and hybrid attendan(£ at meettngs. The Synod Moderator is undertaking a pr(>Jramme of visits to local church trustee Lx)dies lo remind local Iruslees of their responsibilities and advise on new pr(Kedures around criminal record checks and safeguarding training in Ih1 of changes in Scottish legislation and denominational changes.
FINANCIAL REVIEW During the year the various funds of Syn(xl had nel income of £296,(3{2O23 £224,028) as shown in the Statement of Financial Activitses on p4e 12. The significant reasons for this increase in nel incorne are as follows= The Synod recetves subslantial fijnds year from resource sharing arrangements with the other 12 Synods of The United Refomied Church. These funds, which amounted to £360,00012023.. £260,(X)01 in the year are a vital part of the sync,5 income. Income from this source in 2025 11 be £400,(XJO. This income is being maintained at a level consistent with the requiremenls of Synod and the ability of the pr(sS lo sustainably meet payments lo our Synod and other receiving Synods. During the year, the Synod received the transfer value of the church al Greenock West which has a market value of £127,000. {In Ihe prior year, the Synod r1Ved the balance of funds and transfer value of the church al Old Coach Road, Easl Kilbride tolalling £116,671). During the prior year, there was the receipt of £210,000 from URC Trust lo be disin'buled by the Synod lo provide grant assistance to churches towards Iheir heating costs and the cost of energy efficiency projects. No additional funding was received in 2024. In the prior year, grants of £61,372 Ere paid out from this restricted fund and a further £85,912 in 2024, leaving a restricted fund balance at 31 December 2024 of £62,716. Expenditure increased by £56,520 to £513,052. This increase relates mainly to an increase in staff costs of £28,407 due lo an additional staff member and a pay increase and also, an increase in legal and professional fees of £16,879 due mainly lo the fees incurred relating lo the loan agreement wlh DunfeThline Uniled Ref0ed Church as detailed below. There was a gain on the sale of a manse and a church building during the year of £202,656 12023.. £nill. There was an unrealised gain on the revaluation of investments Ihis year of £14,82512023.' net realised and unrealised loss on investments of £6,021). During the year, the Synod purchased a new manse at Hawthom Way, Cambuslang costing £410,OLI). In addition, the Synod provKled a loan of £180,0(K) lo Dur¢femiline United Refomed Church to facililale ils acquisition of a property. This loan has mnthly repayments to be male over a 15 year period ending Febnjary 2040,. has InteSt charged al the Bank of England base rate., and is secured by a standard security over the acquired property. Movements in fvnds are shown in note 16 on page 24 Investment Policy The objecb'ves the Synod sets for its investments are to maintain the value of the capital fr)r future use and to provide current income to resource the work of the Synod Income derived frorn investments increased during the year lo £14,70412023.. £12,508) due lo the dividend policies of companies following the war in Ukraine All income from investments held is cdited lo the Adminislralion & General Acts'vib'es Fund, and gains and losses also accrue to that fund The Synod follows the ethical criteria laid down in the investment p)licy approved by the General Assembly of the URC.
Risk Management Officers of the Synod reviewed the risk register during 2024. The principal risks identified al present, and steps being taken to mitigate them. are as follows.. Risk.. Sustainability of Syn¢)J life impacted by an ageing and diminishing membership Mitigab'on.. Financially working with other synods through the Inter Synod Resour Sharing {ISRSI agreefnent. The Synod budget is Ptesented annually al the Synod meeting Risk.. Writing blogs and contributions lo the Synod Facebook page or by individual ministers and elders on their own social media which may be inappropriate and damage the Syni)d standing Mitigation.. Promoting the URC Sccial Media Guidelines and developing appropriate procedures in the posting of online wmmunications Risk.. Adequacy of staffing levels Miligalion.. This is kept under dose review Personnel A Property Co-ordinalor IManses} was employed in January 2024. The prime role is lo oversee the portfolio of manses owned by the Synod and maintained locally. ReseNes Policy and Going Concern Total funds al the balan sheet date were £4.881,923 {2023. £4,585,860), of which £4,683,06912023, £4,184,213) are held in unreslricled funds for the purrKJses set out in Note 3, with the balance of£198,854 12023. £401,647) relating lo reslncted funds. £3,116,90912023.. £2,806,154) is held as heritable property or other tangible fixed assets, with the balance of unrestricted funds of £1,566,16012023'. £1,378,059) representing the free funds of the charity. Details of the funds held are shown in note 16 on page 24 All designated free funds are held to provide for the long-lem needs of the Syn(xl, and there is no rtaintY aboul tt)e liming of future expenditu as needs relating lo each of the specific designated purposes are not predictable. The general fund has a balan of £1,454,25312023.. £985,479) at the balan sheet dale. Ongoing general expenditure is fInand out of income frofn the general fund in each financial period, with any operabng deficits being mel from assets held within the Church Building Fund by way of annual transfer. The Syncé aims lo hold sufficient unrestricted reserves, including designated funds, lo meet ongoing running costs and antiapaled future expendibjre on manses or other new church building projects. Expectations of these needs are revised by the Irustees i)n an annual basis and reserves are sufficient lo meet 12 months, anticipaled expenditure. As noted above, the Synod receives substantial funds e&h year from resour sharing arrangements with the other12 Syncxls of The United Refomied Church. Income from this source for 2025 will be £400,0(K). This income is being maintained at a level consistent with the reqU1mentS of the Synod and the ability of the process to sustainably meet paymenls to our Synod and other reIving Synods. Consequenuy, the Iruslees cOnser that the charity is a going 0)nm. STRUCTURE, GOVERNANCE AND MANAGEMENT The Synod is constituted under the teThs of the United Reformed Church Act 2C()o The Committee Structure of the Syn(MJ is shown in the diagram within this repx)rt.
REFERENCE & ADMINISTRATIVE INFORMATION Registsred Scottish Chaiity Number SCO117 Principal Office 3r1 Atlantic Chambets, 45 Hope Stree¢ Glasgow G2 6AE Website www.urcscotland.o Office Bearers.. Moderator Synod Clerk and Company Secretary Synod TreasurerlAccoulllant Convenor of Pasloral Committee Convenor of Resources Committee Convenor of the Exeojtive rru5tees.' The full list of trustees as at the end of 2024.. uction an training o The are no specific inducbon and training procedures for new tnjslees. All trustees however. have a knowledge of the Syncrfj's *ivities. In dI1)n, e new trust is referred ID the latest OSCR booklets on Trusteeship. During the year, the following payment5 were male to ItU5tees: There were no trustees reMUneraln or oiher tEnefi15 for the year ending 31 DeTrmber 2024 nor the year ended 31 Dember 2023, other than as disclosed in note 9 to the financial statements Travel, Subsis1en and other exFenses of £1.847 were paKI to 4 truslees12023.. £2,34410 3 Irusleesl during the year. new rus ees
Advlsors 2024 Legal: espie acan rew. 5 Alholl Crent, Edinburgh, EH3 8EJ Bankers.. Roya Bank of Scolland p Charing Cross Wesl Branth 9 Clifton Place Glasgow, G3 7JU Audltors. AStrong Watson Audit Limited Caledonia House 89 Seaward Street Glasgow. G411 HJ F0lbvrj a corF#Nae mergei. our preNious aOIs. Mwtin Ailken & Co Ltd, became Armstrong Wan Alit Limited. Investments.. CCLA PO Box 12892 Dunmow Essex, CM6 9DL STATEMENT OF TRUSTEES, RESPONSIBILITIES Under the Charities AccThJnts Iscouandl Regulations 2, the Synod's trustees are responsible for the preparation of and approval of financial statements for each financial period, which give a true and fair view of the State of affairs of the syn of tls financial &tivilies. In exercising such responsibility, the Iruslees are required to.. Select Suitab accounting FM)licies and then apply them consislenUy- Make judgements and estimates that are Teasonable and prudent-, Prepare the financial statements on the going Conrn basis UnSS rt is inappropriale to psume that the Syn(>J wll continue in business The trustees are responsible for the kpIr0 of proFer xcounting records Ythich disclose with reasonable accuocy al any lime the finan position ol the Syr¥Jd afid which enable il lo ensure that the finarscial slalements comply with the above regulalions. The trustees also have a duly lo safeguard the assets of the Syn(xd and hen for taking reasonable skps for the prevention and delection of fraud and other irregularities. Moderator Chair of Truslees Dale.. ¥1 201S
STRUCTURE, GOVERNANCE AND MANAGEMENT The Synod is constituted under the temis of the United Refomied Church Act 2(JJO The Committee Structure of the Sync#J is shown in the diagram tEIow. Organisational Chart Synod Moderator.. Ex Officio on all committees including= Council of Nominees ITrusteesl Synod Clerk.. Ex Officio on Resources Committee and Synod Pastoral Comrnittee. is Company Secretary to the Council of Nominees ITrusteesl- and Clerk to the Synod Area Council and Synod Executive Committee. Synod Resources Committee 4xper annum Syrtod Mission Committee Approx. 4 x per anntjm Council of Nominees (Trustees) 4 x per annum Synod Executive Children and Intergenerational Ministry 4xper annum Synod Area Council Ecumenical Reference Group Meets as necessary Synod Pastoral Committee Sxper annum
Report of the Independgnt Auditors to the trustees of United Refornied Church Synod of Scotland Opinlon We have audited the financial statements of United Reformed Church SY of Scottand (the charity) for the year ended 31 Decefflber 2024 which comprise the Statement of Financial Activities, the Balance Sheet, 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 apled in their preparation is applicable law and United Kingdom Accounting Standards, induding FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. {Uniled Kingdom Generally Apted Accounting Practice). In our opinion the financial statements- give a Irue and fair view ol the slate of the charity's affairs as at 31 December 2024 8nd of ils income and expenditure for the year then ended.. have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance th Ihe Uirements of the Charrties and Trustee Investment (Scollandl Act 2005 and regulation 8 of the Chartties Accounts (Scotlandl Regulations 2006 {as amended}. Basis for oplnion We conducted OUT audit in accordan vrith International Standards on Audtting (UK) {ISAs (UKI) and applicable law. Our responsibilities under Ihose standards are further described in the Auditor's 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 OLtr audit of the financial stslemenls 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 audrt evidence we have obtained is SuffiCnI and appropriate lo provide a basis for our opinion. Conclusions relating to going nCern In auditing the financial slalements, we have COlUded that the trustees. use of the going ncern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied. we have not identrfied any material uncertainties relating lo events or ndilions that, individually or collectNely. may cast signtricant doubl on the Synod's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the twstees wtth respect to going concem are described in the relevant Sections of this pOrt. Other infomation The trustees are responsible for the other information. The other infomation comprises the information included in the annual report, other than the financial statements and our Rewrt of the Independent Auditors Ihereon. Our opinion on the financial slalemenls does not cover the other irrfomation and we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial statements. our responsibilty is lo read the other infonmation 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 lo be matefially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required lo determine whether there is a material misstalemenl in the financial slalemenls or a material misstalemenl of the other information. If. based on the work we have performed, we condude that there is a material misstatement of this other information. we afe required lo report that fact. We have nothing to reFM)rt in thi5 regard.
Report of the Independent Auditors to the trustees of United Refornied Church Synod of Scotland {continued) Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charibes and Trustee Investment (Scollandl Act 2005 and the Charities Accounts {Scollandl Regulations 2006 {as amended} require us lo report to you if, in our opinion.. the information gtven in the financial statements 15 ionSi5tenI in any material respect with the Trustees. Annual Report,. or proper accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fijlly 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 intemal control as the tnjslees 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 slalemenls. the trustees are responsible for assessing the charity's ability to continue as a going concern. disdosing, as applicable, matters related lo going concem and using the going concern basis of accounting unless the trustees either intend lo liqusdale the charity or to cease operations, or have no realistic alternative bul to do so. Our responsibilitles for the audit of the financial statements We have been appointed as auditor under section 44 (1) Icl of the Charities and Tnjslee Investment (Scollandl Act 2005 and report in accordance with the Acl and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl. whether due lo fraud or error. and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assuran is a hh level of assurance, but is not a guarantee that an audit conducted in acCOrdar wrth ISAS IUKI will always detect a material misstatement when il exists. Misslalemenls can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect malerial misslalements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities. including fraud is detailed below. Our approach lo idenlrfying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-comlanCe with laws and regulations, was as follows.. the engagement partner ensured that the engagement team colleclively had the appropriate competence, capabilities and skills lo identfy or recognise non-complian with applicable laws and regulations. In addition, identrfied laws and regulations were communicated within the Audil Team regulady and the team remained alert lo Instances of non-compliance throughout the audit.. we identified the laws and regulations applicable lo the Synod Ihrough discussions with trustees and other management. and from our knovledge and experience of the charity sector.. we focused on sp1¢ laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Synod., we assessed the exlenl of compliance with the laws and reguSations idenlrfied above through making enquiries of management and inspecting legal correspKJndence. We assessed the susceptibility of the Synod's financial stalemenls lo material misstalemenl, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as lo where they considered there was su5ceplibility to fraud, their knowledge of actual, suspected and alleged fraud., and considering the inlemal controls in place to mitigate risks of fraud and non-compliance smth laws and regulations. 10-
Rgport of Ihe Independent Auditors to the trustees of United Refornièd Church Synod of &otland {¢ontlnued) To address the risk of fraud through management bias ar#J overrbde of contro15, we.. performed analyiical pfocedures lo identify any unusud or unexpected relationships,. lested journal entries to identify unusual transactions., assessed whether judgements and assumptions made deterniinirffJ the actounling estimates set out in Note 2 were indicative of potential bias,. and invesligaled Ihe rationale behind significant or unusual tran$tns. In reswnse to the risk of irregularities and non-compliance with laws and regulations. we designed procgdures which Included. but were not limiled lo". - agreeing financial stalemenl disclosures lo undertying 5UPPOrting documentalion,. reading the minules of meetings of those charged with governance.. enquiring of management as lo actual and potential litigation and daims- and - reviewing C4)fTespondenc th HMRC, felevant regulators and the Synod'"s legal advisors. There are inherent limitations in our audit prccedures described 8bove. The more removed that laws and reguSalions are frorn financial transactions, the less likety il is that we would become aware of norFcompliance. Auditing standards also limit the audit prolJUre$ required to Klenlify non-compliance wilh laws and ffgulalions lo enquiry of the tru$tees and other management and the inspection (rf regulalory and legal cofres4)ondence, if any. Material misstatements that arise due lo fraud can be harder to delecl than those that arise from error as they may involve deliberate concealment or o)Ilusion. A further descriptK)n of our responsibilities for the audtt of the financial slalements is located on the Financial Reporting Council's website al ww.frc.org.ukjaudrtorsresponsibilities. This description forms part of our Report of the Indep8ndenl Audrtors. Use of our report This report is made solely to the charity's IsteeS, as a in accordance wilh Section 44111 Icl of the Charities and Trustee Investment (Scolland) Act 2005 and regulatson 10 of the Charities Accounts Iscollandl Regulations 2006_ Our audit work has been undertaken so that we migm stale lo the charity's truslees those matters we are required to slate lo them in an auditors. report and for no other purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility lo anyone olhw than the chartty and the charily's iinions we have forrned. Armstrong Stalulory Aud Eligible to act as an auditor in terms of Section 1212 of the Compans Act 2006 Caledonia House 89 Seaward Street Glasgow G41 1HJ Dale".
UNIIEDREFORIIED CHURCHStrNOD OFSCOTLAND sfAJEAIEiifsFOR 7HEYSARENDED3t DECEIIBER 2024 United Refonned Church Synod of Scotland Statement of Financial Activities For the Year Ended 31 December 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Note Income from: Donations Other trading activities Investments 536,338 18.0 36.396 536,338 18,900 36,396 644,143 18.102 24,336 Total income 591.634 591.634 686,581 Expendtture on: Raising funds.. investment m8nagerfs fees Charitable activities.. Synod activrties 4,008 452,524 410.086 102.966 513.052 Total expenditure 410.086 102,966 513.052 456,532 Realised gains on disposal of assets Nel gainslllossesl on investments Total other rKognised gainsl(losses) 202.656 14.825 202,656 14,825 {6,021 217.481 217,481 6,021 Net incomellgxpenditurel 399.029 (102,9661 296,063 224,028 Transfers between funds 99.827 99,8271 Net movement in funds 498.856 {202.793} 296,063 224,028 Reconciliation of funds Total funds brought forsydrd 16 4.184,213 401.647 4.585.860 4.361,832 Total funds carried for4vard 16 4,683,069 198,854 4,881,923 4,585,860 The above statement indudes all gains and losses recognised during the year. l amounts included above relate lo continuing activities. Comparative figures for the previous year by fund type are shown in Note 14 on page 23. The notes on pages 16 10 25 form part of these financial statements. 12-
UNifEDREFORMEDCHURCHSYhW OF5GOTLAND FINAfKIALSTA TEAIE14TS F(Jg THE YEARENDED3f DECEMBER2024 United Refomled Church Synod of Scotland Balance Sheet As at 31 December 2024 2024 2023 Notes Fixed Assets Tangible Assets Investments 10 11 3.116,909 415.083 2,806,154 400,258 3,206,412 3.531.992 Current Assets Debtors Cash held at bank Cash 12 190.288 1.195.689 300 1.386.277 17,465 1,568,429 300 1,586,194 Current Liabilities Amounts falling due wilhin one year Net Currgnt Liabilities 13 36,346 206,746 1.349,931 1.379.448 Total Not Assets 4 881923 4 585 860 Represented by: General Fund Designated Funds Total Unrestricted Funds 16 16 1.454.253 3.228,816 4.683.069 985,479 3,198,734 4.184.213 Restricted Funds 16 198.854 4 881923 401,647 4 585 860 Approved and aulhorised for issue by the Trustees on 2025 and signed on their behalf by. The Revd. L. Sanderson Moderator Mr R Christie Chair of Trustees The notes on pages 16 to 25 fom part of these financial statements. 13-
UNITED REFORMED CHURCH SYNOD OF SCOTLAND FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 United Refomied Church Synod of Scotland Cash Flow Statement For the Year Ended 31 December 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Nel cash (used byyprovided by operating aclrvilies Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Sale of tangible fixed assets Sale of fixed asset investments Interest received Dividends received 1411,590) 1599,3251 1531,7581 419,656 536,155 11,828 21.692 Net cash provided byl{used in) investing actNilies 570 592 Cash flows from financing activities Loans advanced lo church Loan repayments received {180.0001 Nel cash from financing activities Change in cash and equlvalents in the reporting pgriod Cash and cash gquivalents at the beginning of thg reF)Orting period (372.740) {229,0761 1 568 729 1 797 805 Cash and cash equivalents at the end of the reporting period The notes fomi part of these financial statements -14-
UNITED REFORMED GHURCH SYNOD OF SCOTLAND RNANCIAL STA TEAIENTS FOR THE YEAR ENDED 31 DEGEMBER 2024 United Reformed Church Synod of Scotland Notes to the Cash Flow Statement For the Year Ended 31 December 2024 Reconciliation of net income to net cash flow from Operating Activities 2024 2023 Net income for the reporting period (as pgr the Statement of Financial Activities) Adjustments for- Property donations Deprecialion charges IGainslAosse5 on investments Gain on disposal of ffixed assets Interest received Dividends received Decrease in debtors Decrease in creditors 296,063 224.028 1127,0001 10.835 114,8251 {202,6561 (21,6921 {14.7041 5.037 170400 1115,0001 11,216 6,021 {11.8281 112,5081 416,358 1767711 Net cash {used byllprovided by operations Analysis of Changes in Net Funds At 111124 Cash fl¢)w At 31112124 Net cash Cash at bank and in hand The notes fomi part of these financial statements -15-
UNffEDREF(X9AIED CIIURCHSYNODOFscollAND STAlENTs FOR THE YEARENDED31 DECEklBER2024 Notes to the Financial Statements Presentation and scope of accounts The financial statements have been prepared on the historical cost basis. Nwlh the exception of investments which are included al fair value and fixed assets which are induded al cost less accumulated depreciation, and in accordance wth the requirements of- Accounting and Reporting by Charities= Ststement of Recommended prlee applicable lo charities preparing their accounts in accordanee wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffective from 1 January 20191 (Charities SORP IFRS102}1 the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 the Charities and Trustee Investment (Scollandl Act 2005. and - the Charities Accounts (Scollandl Regulations 2006 las amellded). The charity constitutes 8 public benefit enbty as defi by FRS102. The trustees have reviewed the financial FM)sition of the Synod and for the reasons given in the Tnjslees. Annual Report, they consider that il is approwiate to continue to prepare the financial statements on a going concern basis. The financial statements are presented in Steding (£}- Accounting policies Income All income is recognised once the charity has enliuemenl lo the income, it is probable that the income will be received and the amount of irwme receivable can be measured reliably. Donations and other income received with no reslriclion on their use are applied by the Iruslees lo the appropriale designated fund. Properties donated lo the Synod are included in income ¥Jpon transfer of lrtle at market value. Interest on funds held on deposit is included when the amounl is recervable and can be measured reliably by the charity. This is normally upon notification of the interest paid or payable by Ihe bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally Lipon notrf1¢alion by our investment advisor ol the dividetKI yield of the investment portfolio. Expenditur9 Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charily to that expenditure, il is probable thal settlement 11 be required and the amount of the obligation can be measured reliably. Al expenditure is accounted for on an accruals basis. The charity is not registered for VAT, so expenditure includes VAT where applICae. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activsties and services for its beneficiaries. The trustees consider that there is only one charitable activty. Therefore support costs are not separately identified as they relate wholly to that activity- Grants payable are payments made to third parties in the furtherance of the charitable objec15 of the charity. Grants are paid to applicants or recipients on the basis of criteria set out for the relevant designated or restricted fund, and decisions are made either by the Synod Officers or Synod Committees who have responsibility for certain types of grant. Decisions are ratsfied by the Resources Committee. Taxation The charity is exempt from corporalion tax on ils charitable aCtiVe$. Fixed Assets Tangible fixed assets costing in excess of £150 are slated at Cost less accuTnulated depreciation. which is provided lo write off the cost of the assets, less their eslimaled residual value. evenly over their estimated useful lives, as follows: Land & heritable properties 20 10 25 year5 Furniture & fittings 10 years Equipment 4 years The cost of land has not been separately identifd from that of heritable property and depreciation is therefore provided on land. Although FRS102 suggests that land is not normally depreciated, the trustees are satisfied that the fair value of land is not materially different lo ils carrwng value included in heritable property. 16-
UNIIED REFORAIED CIIURCH SYNODOF SCOTLAND NAIIYX STATEMENTSFOR IHE YEAR ENDE031 OECEMBER2024 Notes to the Financial Statements { cont. ) Accounting policies I cont. ) Fixed Assets { cont. I Where the recoverable amount of a lan9ible asset is found lo be below its nel book value. the asset is written dowri lo ils recoverable amount and the loss on impairment is charged lo the relevant expenditure category of the Statement of Financial Activities. The Iruslees review the carwng value of all properties on an annual basis and, where there is a risk of material overslalement. seek lo obtain professional valuations of individual prOpertS at least every 5 years. Investments Inveslments are a form of basic financial instrument and are inilially recognised al their tfansaclion value and subsequently measured at their fair value as at the balance sheet dale using the closing quoted market price. The Slalemenl of Financial Activities includes the nel 9ains and losses arising on revaluation and disposals IhToughout the year. I gains and losses are taken to the Slalemenl of Financial Actwilies as they arise. Realised gains and losses on investments are calculated as the drfference between sales pr(Keeds and their opening carrying value or their purchase value if acquired subsequenl to the first day of the fnanCIal year. Unrealised gains and losses are calculated as the difference beknn the fair value al the year end and their carying value. Realised and unrealised investment gains and losses are combined in the Stalemellt of Financial Activities. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised al their settlement amount after allowing for any trade discounts due. Provisions are recognised at the best estimate of the amount required to settle the obligation al the reporting date_ Judgements The charity considers on an annual basis the judgefflents that are made by management when applwng its significant sccounting policies that would have the most signrficanl effect on amounts that are recognised in the financial statements The Iruslees consider there are no such sign£ficant judgements. Informatlon and key Sources of estimation uncertainty In the application of the chariws accounting policies, the trustees are required to make estimates and assumptions about the carrwng amounts of assets and liabilities that are not readily apparent from olher sources. The estimates and associaled assumptions are based on historical experience and other factors that are cons1dered lo be relevant. Actual results May drffer from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. The charity does not have any key assumptions concerning the future, or other key sources of eslimalion uncertainty in the reporting year that may have a significant risk of causing a material adjuslmenl to the cafrwng amounts of assets and liabilities within the next financial year. Pension Contributions The charity makes contributions lo defined contribution personal pension schemes in respect of five employees. Contributions payable to these pension schemes are charged lo the Slalemenl of Financial Activities in the period lo which Ihey relate. Financial Instrumarbts The charity only enters into basic financial instruments transactions Ihal result in the recognition of financial assets and liabilities like other accounts receivable and payable and loans lorfrom third parties and related parties. Such debt instruments are Initially measured al Pfesent value of future payments and subsequently al amortised cost using the effective interest method. Debt instruments that are payable or receivable wthin one year. typically other accounts receivable and payable. are measured, inibally and subsequelllly, at the undiscounled amount of cash or other consideration expected to be paid or received. 17-
UMTEOREFORIIED CHURCIISIWOD Of SCOTWO FAAl sfATEMENfs FOR IHE IEARENDEO 31 DECEklBER 2024 Notes to the Financial Ststements ( cont. ) Accounting pollcies ( conL I Financial Instruments Icont.) Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and rf found, an impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the liability is exb"nguished. that is when the contractual OblallOn is discharged. cancelled or expires. Cash and cash equivalents includes cash al hand. deposits held at call with banks, other short-lerm highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown wlhin bo0%ng$ in current liabilities. Funds Held Synod holds funds of the followng types.. Restricted Funds ~ these are funds which are subject lo re5tn"clions placed by the donor and may only be used for reslricled purposes. Unrestricted Funds these are funds which are free lo be used to further any of the objects of the United Refomed Church Syn¢xl of Scotland. Designated Funds purposes. these are unrestricted funds which have been eam)arked by the Iruslees for pa'cuLar The specific unrestricted funds of the Synod are maintained for the following purposes.. Unrestricted Funds Adminislralion and General Activities Fund - this is the general fund of the Synod, and provides all the expenses of the administration of the Synod, including the costs of Committees. Links and Synod meetings. Church Buildin Fund this represents funds designated by the trustees for the purposes of providing finance lo enable local churches lo undertake the work of adaplalion and repair of existing places of worship. Resources in this fund are also utilised lo meet any defiats on the Administrats"on & General Activities Fund. Church Buildin Manse Fund - this represents funds which have been designated by the Iruslees for the purposes of purchasing new manses and maintaining the Synod's existing stock of housing for ministers. Ministers. and De endants, Aid Fund this fund was originally designated by officers of the Congregational Union of Scotland for the purposes of providing grants to aid ministers, their wdows, widowers, and their children in special circumstances of financial difficully. Synod's Irustees have maintained this designation. nod Develo ment Fund fOrmerlY Ihe Church Lrfe Develo ment Fund this fund initially arose from an unreslricled anonymous donation in 2007. Al Synod meeting in September 2015, the purpose of the fund was amended. The fund now exists to give grants to individuals and churches for work aimed al developing the Church's lrfe in the Synod of Scollan¢J. Beilh Buildin Fund - this represents fullds received upon the dosure of Beilh URC which have been designated by the trustees for the purposes of assisting other churches wlh Iheir buildings_ Related Parties The Synod enjoys a close workinq relationship with the Scottish Colleqe Iconqregalional and United Reformed). The Synod procures educational services from the College. The Synod and College ioinlly acquired their office property durino 2U1 Y and are SpOnsible tor an equal share oi the runninq costs. The Synod holds and admini-tcr a fun(1 for a Jcparalc chartty. InvcnJric Congrogalional Mi••ion Tru-l As al 31 December 2024, the amount held on behalf of Inverurie Congregational Mission Trust was £1.328 {2023". £4,3281. This amount is included in note 13 on page 22. 18-
i•FEDREF0R¥EDcHUhftsIsvh¥JDOFsc0TlAD sfA7EIIEPITSFI]g THE YWeEIIDED31 DECEPJBER2ffg4 Notes to the Financial Statements ( cont. ) 5 Incom• from donations UnrestTid•d Funds 2024 Restrided Funds 2024 Total Total 2024 2023 lnter-SynJ Resource Sharing Church contributions Funds transferred from Closed congregations Property donated by ongoing congregatson Energy Crisis Fund gont Other donations & legacies 360.000 12.478 360.000 12,478 260,000 116.671 127,000 127.000 210,000 57,472 644,143 36.860 536.338 36,860 536.338 6 Income frorn othèr trading activÉtses Recharges of stsff lime Other Income Property rentsls 4.803 4.803 4,575 12.733 18,900 12.733 18.900 13.527 18,102 7 Income from investments Dividends Interest 14.704 21,692 36,396 14.704 21,692 36,396 12.508 11,828 24,336 Dividend income is all credited to the Administr8b"on & Genetal Activilies Fund. in accordance with 8 decision of the Trustees. 8 Expènditure Raising Funds Investment manager's fees 4.008 Charitable ActivitAes Staff costs Staff travel & expenses Office occupancy costs Office running costs Educats'on & training Synod, Committee, Delegates and Link expenses Affiliation fees Grants & donations Property costs Legal & professional fees Bank Charges Balances written off Depreciation Audit & accountancy 161.985 22,508 10.146 18,7 20.117 161,985 22,$08 10.146 18,907 20.117 133,578 18,331 9.848 22,989 18,400 9.436 11.427 5.139 26.367 93,345 9.436 11.427 108,105 26.367 93,345 10,361 8,321 115,961 19.373 76,466 102.966 3.128 10.835 16,100 410,086 3.128 10.835 16,100 513,052 11.216 7,680 456,532 102,966 19-
FVWKWSTATEIIENfsFag TIEtrUREMW31 DECEA18ER2Q24 Notes to the Flnancial Statements ( conL ) 8 Expendituie on charitsblè actlvlties I conL I Expenditure is stated after charging.. 2024 2023 Gov8mance costs.. auditors,remu8f8tson Fee for current year 16.100 7,680 Operating lease payments Grants & donations indudes grants made in furtheran of the thariws objectives as follows: 2024 2023 No. of recipients 23 No. of recipients 27 Grants ma¢Je to organisations 87.383 65,661 Grants made to individuals 105 20.722 132 5Q,300 Grants made to organisations indude £85.912 paid to 15 organi5ab"on5 through Ihe restricted Energy Crisis Fund {2023'. £61.372 to 14 organisations). 9 EMplOent Costs 2024 2023 Gross salaries Social security costs Employerfs pension ¢ontributions 151,591 4.784 5,610 161,985 128,430 2,503 2,645 133,578 Average number of employees during period (headclnI basis) Thr88 Staff, whose costs are included aVe. are minister5 who are paid a stipend from the URC Ministy & Mission Fund. During the year, the Synod paid £25.046 12023.. £25,814) lo this fund. which is induded in gross salaries above. The trustees consider the Synod Officws - the mrator. Synod Clerf(. TreaSUr. Convenor of Resources Commiitee, Convenor of Pastoral Committee and Convenor of the Executive - to be the key management personnel. The lotsl amount of employee benefts, including employer pension contribub"ons, paid in respect of key management personnel was £19.70912023." £18,145). In addition lo this. professi21 fees of £57,78012023.' £46,300) were paid to the Treasurer during the year. No emK4oyee had emoluments of more than £60.000 in the current or previous period. Trustees, remuneration and expenses are detailed in Ihe Truslees. Rewt. Pension Costs Pension contributions shown above include payments of £5.610 12023- £2.645) made on behaK of 5 employees 12023.. 31 to their defined contribution personal perh5ion sthemes. The total arrK)unl outstanding at the year end in relation to pension schemes was £nil12023." £nill. -30-
F¥WtL¥sfAfE¥ENfsFOR TrE YEPRENDED31 DECEIl8ER3l Notes to the Financial Statements { cont. ) 10 Tangiblè Fixed Assets Land & Heritable Properties Fumiture & Fittings Equipment Total Cost At 1 January 2024 Additions Disposals At 31 December 2024 Depfeeiation Al 1 January 2024 Charge for period On Disposals Al 31 Decernber 2024 2.875.525 537,000 235.4001 3,177.125 5.527 19,721 1.590 2.900,773 538.590 1235,4001 3.203,963 5.527 21,311 75.208 8,000 {18.4001 64,808 3,883 164 15.528 2.671 94,619 10.835 118,400 87.054 4,047 18,199 Net Book Valu¢ At 310ecèmber 2024 3,112,317 3.112 3.116,909 Al 31 December 2023 2.800.317 4,193 2,806,154 11 Investm8nts nod Portfolio- held with Rathbone5 Market value at 1 January Acquisitions at cosl Disposals at opening book value 2024 2023 411.552 143.768 {555.3201 Market value at 31 December 2024 During the prior year. the Synod disinvested all fvnds held in Ihe investment portfolio managed on its behalf by Fialhbones. and reinvested the funds with CCLA in ils COIF Charib"es Ethical Investment Fund Inc_ The movements in this investment during the year a as follows-. 2024 2023 Market value at 1 Jarsuary 2024 Acquisitions at Cost Nel gain on revaluation 400,258 385.657 12,268 397.925 2,333 400,258 14,825 415,083 Cash held by the investment manager awaiting investrnent Market valuè at 31 December 2024 415,083 Income from Investments Investment income is all derived from within the United Kingdom. and is allocated to the Adminislrabon & General Acliwbes Fund in a¢cordance with a decision of the trustees. 21
sfA7EMEI4ISFthPIIIE YEARENDED31 DEcEpJBER4 Notes to the Financial Statements ( cont. ) 12 Debtors 2024 2023 Amounts falling dug within one year Loans to Churches Accrued income Prepayments Held by invesbnenl manager {al 9.125 6.807 5.621 12,236 5,103 126 17,465 21,553 Amounts falling due aftor one year Loans lo Churches (al 168.735 190,288 17.465 lal This preSentS a loan provided to Dunfermline United Reformed Church to faolitate its acqui51tion of a property. Monthly repayments are lo be rn8de over a 15 year peri¢JJ ending in February 2040. Interest is being Charged at the Bank of England base rale and the loan is secured by a 5tsnd8rd security over the acquired properly. 13 Creditors- amounts falling due within one year Funds held on behalf of other charib"es'. Invenjrie Mission Trust Slonehouse St. Ninians Park Airdrie URC Olher Creditor lal Ib} (b) 1.328 4,328 47,254 118,497 514 Accruals and deferred income 34,504 36.346 36,667 206,746 {al This charity is administered by Synod staff but is not under the control of Synod trustees. Funds are held in the Synod's bank accounts for ease of administr8b"on. {bl These amounts represent proceeds of propety disposals by conb"nuing congregation5. and other monies, which have been lodged with Synod while the congregab.ons consider fulure plans warding provision of buildings. During the year, the balances due to Slonehouse Sl. Ninians and Path Airdrie URC have been repaid lo the lo¢al churches.
iXfftDREF(IRMEDCHURCHsYfO QFSC07LAM) FMlfJPL STAfEI4ENfsF(IPTIE YEPAEPWED31 DECE118ER2ffg4 Notes to the Financial Statements ( cont. } 14 Statement of Financial Activltlos- Prior Year Unrestri¢tsd Funds 2023 Re5tri¢tod Funds 2023 Total Funds 2023 Income from: Donations Other trading activities Investments 434.143 18.102 24,336 210,(X)O 644.143 18,102 24,336 Total income 476,581 210,000 686,581 Expenditure on: Raising funds.. inveslmenl managerfs fees Charitable a¢tivities'. Synod a¢tiwties 4.008 452.524 339.874 112,650 Total expénditure Realised gains on disposal of assets Net unrealised losses on investments 343,882 112,650 456.532 16,0211 {6,021) 224,028 Net income 126.678 97.350 Transfers bètween funds Net movement in funds 126.678 97.350 224,028 Reconciliation of funds Total funds brought forward Total funds carried forward 4.057,535 4,184,213 304,297 401,647 4.361,832 4,585,860 1 S Post Balance Sheet Events Subsequent to the year end. three properbes were 501d for £1.017.250 at a gain on sale of £467.110. -23-
11I4ViSTATEIENTSFOR TrE YE•REK8021DECEiOER2O24 Notes to the Financial Statements { cont I 16 Movements In Funds At 1M124 Incornp Expenthtyre Oih8f alns I IL055esl Trarthrs At 31112124 RestrNGtedFuftds.' Synoj 8uildiFVJ Fu Minisier$' and Dependanls, AKI Fund Easi lbride & Hamilton klanse Fvnd Eneryy Crisis Fund Total Restricted 80,498 55,640 72.694 99.827 148.628 401,647 17.0541 193.8271 85.912 199.8271 198,854 DesignatedFunds." Church Building Fund Church Buikling Mans? Fund eilh Buikling Fund Minisler5' and Oependanis. AYJ FurKI Synod Developnwi Furnl 810.498 2.089.755 152.(MK> 14.983 111.71 127.11 95.388 107.288 1,045,919 1.874,637 102,309 92.013 113,938 3,228.816 1310.1731 92.234 103.938 3.198.734 12211 10.(IMJ 176.983 139.3841 202.656 1310.1731 GeneralFund.. Adminisirii(m & Getra1 ActNrt5 Fwd Totsl Unrestricted 985.479 4.184.213 414.651 591.634 370.702 410.086 14.825 217.481 410,riyJ 99,827 4 683,069 Total Funds 4.585.860 513.052 217.481 4.881,923 Detailed descriptits of unreslricw aThY tY&gQnad In Tr)te 3 page 18. ReStred funds are to be Us1 a5 Id Synod Building Fund- Ihe5e funds are lo be for the rKo¥isw ofgranis f( ihe refvtiYShMt of chyrch Pilding$ Wlhin lh8 Synthj. Minisiets, and Dependants AKI Fund- these fundsere transferred frrth SCMMPPFT c•) its and a lo be applied lor the same re51riGièJ purposes 3$ ere applicable lo SCMMPPFr. tny the Of mEliaets and E¢Jendants. East Kilbnde & Hamiiien Mnse Fund- Ihese funds re ie te us&1 lo wovxle a manse fcK E8$1 Sfjlbtide arxl Hafflillon and we lully ulilised during the year Energy criS FuThJ. funding from URC Trua to LE dth1Xrt by the S1 10 wJegri as to churches towards the healing costs an¢J the ofengy efficw woiKts. Transfers ben fLTnds'. Included in tarngie fixed assei a&JilvJns InDte 101 i5 afa rrn fry £410.K¥J. Of ihis. £99.827 was mei through the resIncl Easi & Hafflilion arxl has Len Iranslerr&l out of reslricied funds and Inlo the unresiticied General Fund. As detailed in role 3 on page 18. ine trustees consthr thai balar the cost of E310.173 slK¥Jd be mel through Ihe designated Church Buil(fing Manse Fund and ¢onsequenlty. thi5 rti has tw Irdn5ferr&J out of the de5ignaied fur¥Js atKJ inkn unre5trrcted Gener Fund. 17 Movennts in Funds- Prior Year At 111123 Transfers At 31112123 Gain5 1 ILossesl Restricted funds.. Syno(l Building Fund Mini51ers' and DepeTrJants' Avj Fw East lbride & Hamiiion Manse FurKJ Energy Crisis Fund Total restrlcied 80.498 123.9n 99.827 80.498 72.694 99.827 148.628 401,647 151.2781 Z10.IXA) 210.(KMJ 61.372 1112.6501 304.297 DeslgnatsdFuNth.. Church Building Fund Church Building Manse Fund Beilh Building Fund Minisiws. 8nd Dependants. Synod Ewdopmenl Fund 838.681 2.521.748 102.309 92.234 107.277 3.662.249 115.COJ 53.527 18.8071 125,$201 1134,37ei 1460,0001 810,498 2,089,755 1D2,309 92,234 103,938 3.198,734 3.339 131.6661 168.527 1594,376} Genetsl Fund." Adminisiralion & Gener Acu1$ Fund Totsi Unrestricted 395.286 4.057.535 .216 343.882 6.021 6.021 594.376 985,479 4.184,213 478.581 Total Funds 4.361 832 16.021 4.585,860 -24-
Notes to the Financial Statements I cont. ) 18 Artalysis of Net Assets Funts 8a•k & Cash Other Net other Fix8d Asxts Totsl Valu¢ Oé$iynotedFunds'. Church Bu11ding Fund Church Building Manse Fund In Building Fund Ministers, and Dependanls. AKI Fwd Synod Devek)pmenl FutJ General Ftynd.. Aeminpsttai & G8(81 Ac1w$ FurKI Heldon b&hFolcthr ¢hwittÈS 268,131 1353.Y21 11.6921 66.873 712,1 2,227.718 1,045,919 1,874,637 102,309 92,013 113.93B 38.987 95,234 102.736 12.8S)I 15.8441 17.046 1..821 1.328 164.795 11.3281 111.253 171.992 4.592 1,454,253 R8strlcted funds.. SyncKI Building Fund Minislers. ar Dependants. FuThJ Easi Kilbnde & Hamilton Manse Fund Energy Crisis Fund Total Fund5 at 31 Decerthr 2D24 80.49B 80,498 55,64D 62.716 62,716 1.195.989 153.942 415.083 3.112,317 4.592 4,881.923 19 Analysis of NtrtAssets Bethen Fund5- Prioryear Bank & Cash Current Other Fixed As5Èts Total Valut De$ign•tedFunds." Church Building Fund Church Buildirrg Man% Fund Beilh Building Fund Minisiers. and Derendanls. Fund Syr)d Devekwenl Fund General Fund.. AdmiTrisiraliOn & General Activit$ FuThJ Held bthall ofotherchanties 810.498 2,089.755 102.309 92.23d 103,938 158.344 13261 628 63.322 13.(MX)I 86.873 585.607 2,042.718 38,987 95.234 102.7 1245.5771 14.3281 S.428 171.W 5,837 985.479 4.326 Restrictod fund5'. Syn(xJ Buiiliry Fund Minislets. and Depend8nls' Fund Easl KilbrEde & Hamiiion Manse FuThY Energy Cnsis Fund Total Funds * 31 December 2023 80,498 72,694 99,827 148,628 4 585,860 80.4 72,094 99,827 748.628 1.568.729 189.281 4LMJ,258 2.8(.317 5.837 20 APB Ethical Standard- Provisions availablefor small enttties In cornmon ¥ilh mary other businesses of soe arK5 natu use Ow3JIts lo k¥ewe and sutxnit rdLnTS lo the of the Charily Regvlalor and a$5isI %%ilh trt rryaBtson of fina1 Staiemts. -25-
The followtng page does not fomi part of the financial statements and is provided for inforfflalion only. 26-
TEDREFORAIEDC111I9CIIStr7I000FSCOTL4IID FsTATEEfvTSFOR THE trENIENDED31 9ECEAiVER2d Appvndlx In¢omq Exp•ndttur• by Fund Ufirnstrkt•d Funds R•Btiict•d FurA Tal Funds Tot41 Fund fj•Mr¥l Admln & G#nor Church Church Bulldl Minit41' ahd D•p•ndants' Church Synod 8ulldlty Fund EJTi¥iibrkl• & Hamiiion Mlnlilgr•'& Dgyndanm. EnBr9y 2023 euildin D•wlopm•nt Fur Fund DonJtlons aré INer.Syrnd R•wc•5hvl ¢PrCh oltrrfrdDnJlns 390.QQQ 12,478 10.000 11,WJ 7.472 PrOpYO)n• by ¢yryr•Bilw>i Er•r9y Crlws Fuvr• Olhr Iradlw l¥rtIeS 127.0 127,Q 210.tyY) 18,102 24,336 1¥,900 36.396 30.398 Totol INom• 414.651 152.C]O 14.983 10,WJ 091,fj34 OUO,5B1 E¥p•ndltLV on.. siaff ¢osi¥ •ff trovel &•xponMs Ik•occuporKycoilJ 161,9B5 10,146 18.107 20.111 10.146 11.èof 9.e4e 22.989 18,4 EduC•lWJ)&tfr1 Syrnd. Comffllll•o. P••t•i & Llnk•xpn 9.438 11.427 5.139 10,301 8,521 115,9J1 19.373 7.880 00.474 11.427 Gi•nii&donDtloni Proporty Coils ALQrta ACCtyJntBncv t7,054 85,912 11,342 14,101 221 28.M7 16,100 •$,J45 16,100 BB,328 626 4,2 rth Chèry•5 2.833 Tot41•xwnOhur• 370.702 11.W7 27.196 221 17,054 85,912 1J,OSI 10?.2e8 202.616 14.B25 14,825 N•1 InE0m•1•Xp•ndtUr• 5B.774 YJS.421 95,055 10.wj 117.US41 2W,063 224.Q28 Tr•nBl•r 410.llDD N•t movwngnt In fund 468.774 10.ty)) 199.8271 11?.OJ41 185,9121 296.063 224.02 Totlfund$ broughtfor%¥y 985.479 810.498 2.089.7SS 92.234 103,93 102,30 .488 99,827 146.626 4.$85.860 4,361,632 Totil lurtd¢oirf4d lorw4id 1.454,253 .015.919 1.874,637 02.013 102,30 60.49e 55,Y 881.923 4.585.660 -27-