ch¥r r•gislration numb•r SC0130S2 (Scotlandl ARBROATH OLD & ABBEY PARISH CHURCH ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
ARBROATH OLD & ABBEY PARISH CHURCH LEGAL AND ADMINISTRATIVE INFORMATION CharHy numb•r {Scotland) SC013052 Congr•g•tlon numb•r 301799 Prlnclpal •ddr••• Ind•p•nd•nt •xamln•r Bonk•r• Virgin Money 114 High Streot Montro Angus oD10E CAF Bank timlled 25 ng5 Hill Ave? West Mwli Kènt ME19 4JQ
ARBROATH OLD &ABBEY PARISH CHURCH CONTENTS Pag• Tnt3t88s' repyt stst8m8nt ofTwsteos' rewsibih'ti88 Ind8pgndonl 8xamlngf8 repJ1 Statem1 ol ffnanck31 acdvS1 Bo18nce •heet Noto$ to ts financial slalements 10-21
ARBROATH OLD & ABBEY PARISH CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present thelr annu81 Teport antl financial statements for the year ended 31 Dec8mber 2022. Tha financial statements have ten prepared in thg nting Folicyes 8el ryA in notg I to th• finanryAI ststomènts and comply with the Church's Unrtary Con5tilulion, the Charities and Trustee Inv•slmant IS¢ollarKII Act 2005, thè CharitS Accounls IScottand} Regulatn$ 2CKJ6 las arnendedl and "Accounting and Rew)rb'ng by Charit&.. Stst$mgnt of Recommended Practi applubb to charitb8s proparing thelr accounts In acwrdance wNh the FnanCIal ReFtvbNJ Standard applicat4e In lh• UK and RewA)l of keland (FRS 1021" (effective 1 January 20191. OBJECTIVES AND ACTivmES The Church of Scodand is Trinitarian in doctr1. Reformed in tr8ditK)n and Pr&sbytèrian in Polity. It exists to glorffy l>Jd and to wort for tho advBneémènt of Chrisfs knngdom througlK)ut the %4Y)rfd. As a national Church. it ocknowledges a distsnctive cdl and duty lo brfng the crtlnances of rellgion to tho poop in 8vory parish of Scotland Ilyough a territorial mlni5ty. It cwr¥t6s othw Churchos in varlou5 ecumerul b¢4th"8$ in Scodand and beyond. In thè pori8h of Arbrooth Ohj and Abbgy, Sunday momlry %hy)rJhip tskes plac• on a wo•kly bas18 wllh addltlonal 8ervlce8 conducted In ac£rrtd8nc• wlth th¢ Cmstlan calendar. ACHIEVEMENTS AND PERFORMANCE Throughout Ihg ye8r 2022 the Old & Atthy has been s•rved by our bcum mlnlslo and our Interim Modarator. However. bthng without a pemanont mini rnpered much of what the ¢huith had hop¢d lo re-esthblh followng tho disnJplKJn of Ihe pandemt. conducts most of our Sunday and when he Iv)Ilday, we have been fortunate th¥1 church members have led worshlp. Funeral servlc83 havg continued lo L 8v8llab lo all m8mb8rs of Ihe parlsh. A¢tendgnce at worship has grown thrghOut the year vmth several nertomer9 Jdnlng u$. Rafmshrnents are served after wor$hip and aro growing In populgrfly. A church wgb$lte, FObook po9e and Twtler &ccwnl are valuobl8 sleAS of inlonnation atJul th¢ church's actNili¥s 8nd 1¢$ Invofv&mgnt tho ccmrwnity. We cuwrenlly tjo not putlish a regular church magazine bul mailing li3ts alk)w us to rnguLarfy send cyjt inlonnation to members aThJ frndS by email and handouts are avallablo G a Sunday momlng. On• ot our kJrvJ-servi 8cqulr• tha S8ceS of tired earfy in Ihe year and we were very fortunate to r111 the space lèft in the rola. Throughwt th¢ y¢gr a uroup ol Old & Abbey eldef8 papatel luly In 911 IuMS caled to distsj the Afbroalh Clus18r section of the Angus Pr8sbyiery Plan in accordance with the Church of ScoUand 2021 Act 8.. Ftresbytery Mission Plan Act. Th88e discuss$ Invofv8d the nine thurche8 CUrnNtly in Arbroath and area. The agreed Presbytery Plan ¢onduded th8t Iher8 wll be a union of all nina congregations in the Arbmath area resulting in one Arbroath and district congwalK)n Lxrt vthh x w(wshlp centres. Sadty. the Old & Abbey 1$ one ol ts thrge churches oarmark8d for dosure which irKas th81 it will ¢trasg to be on for worship boyond 2023. Due to l¥•J¢rs' hoth Iswjes our Sunday ScFKK4, GirlB' 8riyd• 8nd B. gade c4)Mp108 have been unabb to rg61art followrvj Covid and w8 8r8 currentty In the prrKess of lormalty dosing down the Girts, Brigade. A lack of voluntsers has also prevented us from reslartirrfJ our very popular Mossy Church trJt we still have some hope of doing 50 in 2023. However, a group of Obj & Abbey volunt8ers ioinJ in with tha 'Bubbum 'n Fluff schools work organised by the ChIrn & Family Twork•r at StAndrthrfs Church. a mor8 Frf)Stbv8 nots our Tuesday Coffee M(Things Trstarted in March. but on a rrKJnthty b8ws, and they a pron9 to be very popular. We us&1 the May Coffee Moming along wrth a rnts'ring offering •8 a fundraiser for 'Chrislian . two of our ¥dunteers crdinated t)x f(x th• BWswoc¥J shOeX Appe81 2022. Unfcno1ety, the Convener ol our Workj crCh group resvJned due lo work pressures.
ARBROATH OLD &ABBEY PARISH CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Mombers of our Pastoral Care GrDUP hav$ ¢orfnued to v13l or t8hoM those who k)ng•r come to church. Easter and Chrfstmas 'AftemcJn Tea. boxe5 7Are deliver&J to 30 of ow older membws hom88. These were much appreriat8d. OUT F1¢ C¢ywener abng with hor sm811 team have attond8d to all Issuos that hava Jjoth within the thurch ojmplèx and Ihe mans&. Our Church Admlnistralor left on D•c8mber 21st to start 8 lullb'm F¥)St WTth th& ca Cemrrwssion. Due lo tt)e uncertalnty surroLtnding the fure of Ihg Okl 8nd Abbey, Ihtr icè was advwU8ed 88 • IwMporary post, InteIewS Were held arKI an apntmont m•Ye. Th8 ¢hur¢h Com0X Is wdl usod by a ide ranp of groups for regUr v4eoWy actfvli8s for both adults and yourKJ people. A¢xomrTthatic•) used ksr Mtroff fvndqaislng événts. Th1$ ext8nsfve u8è ha8 made a slgnlfi¢ont dillerence tts our Income. In 2023 our PTlorfYes will b¢.. To contlnue our Sunday ¢¢$ ty our LLUM Minlsler. R•v. Nornw Nlojll, . To •ncOU new people to b• invofvod in ow Church arbj loam mre about God. . To conUnue Outrgach WO across thè Artm8th Community. . To supp)rt our mernbern to play a signM1nI rda kn the way lorvord fty the newAJbro8th ¢Thgrty8tkn. FINANCIAL REVIEW Tho Church has suffored a deficit thi8 yoor. of£4.32412W21 - £1,589). Th8 Twslees hw• a rsonable expedotion Ihal th• Church has aU8t9 resour to Conun In opergdongl existence for the lor9$9•8b fviure. For thi$ re8sM. thoy continue io wJLwl tho going corKem basis in prèp8rtng thg financlal stslem4nts. R••or9 Pollcy Although tha Church have no fixed finanaal reserves policy, unmtrlcted re3erye8 sPkwld Cover 3 months Mlnlsty 8nd Mwlon 8p8nd lapproxlrnaldy £8,750 for 2022). At thè year end thg Churth hoSJs £294.031 12021- È298.3551 In reserv•$ of whlch £280,18512021 - £284.2831 arn unros1 and ol thls, free reserves r1 invg¥Jtod ffix8d assets or designatod aftUnt lo £45,89012021 - £39.8591. AJnounts deson8te(I tOtald £234.29512021 - £244.4241 and are detaiknd vhthln notg 18 to Ihe8e financial 8tatwn8nts. In¥Mtm•nt Polky Invèstm8nts are held In Ihe Church of ScoUarHI Invegkns TNst in EdintrJrgh. Inlertsl on t90 fuThJs is linked to Bank of Ergland base rate. Th• Church hokjs 8 number ol dlNgrgnt Invesiment8'. tho prfmary lactiVe Is rApltal appre¢i•tltx) In order to secure lortrtefm finanaal stability. Dug to the general e¢y)rtNn¢ dlmato. Investrnents have uNlerperfcffn¢d thls year, SLfftering an ovarau kJ8s of £1275. Rlsk IAanagom•nt Th• trustees have ¥ssossed the w ri5kg to whth Its drity 16 exwj. 8TvJ 8y¥twn5 h8ve boon ostablished to mhlgate them. Th8 prlnclpal rlsk and uncartainth•s are financaal.. arKI further d8tai15 of ino)me, expèndhurn, commilments, and reserv• levels are rK)ted in thè Anancid Revvw and Res0rv8s Polcy section of thts r8wt. CoMphen$e insurydn¢* is tsken out annualty for all major risks in¢IlIng ldIng, &18nts, employws and thlrd party linc1lin9 wbl¢l liablknty.
ARBROATH OLD & ABBEY PARISH CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 STRUCTURE. GOVERNANCE A14D MANAGEMENT Th& church is admini8tered in o¢wdance wrth the torn ol Ihè Uru Ccmstitutkjn. The Trustees seNed during the year and up to the date of signature of the nngncial slalements were.. M&mbers ol the KITk Session are th8 thanty trustees. Th8 rk SassK)n Thmbers ara tho eiaars ol lh6 church and ar& chosen from Ihose membors ol the ctturd) who are considered to havo the appropriat8 gifts arbd sklls. Tho minlstér, ol th• Klrk S886ion, is duly 8bctyd by congr0gal1c Inductsd by iho Presbytery. In accordance with Church ol Scolland Law the KI Sèssion has appc¥ntod a SafeguardlThJ Coor(Ilnatty who ha the r99pont$Ility of ensuring all volunteer3 workiTrJ ith children cr vulnerabl& adulls arè PVG ch*ked and havg Ltndert8kon Church of Sc4JtLaThJ saf8guardiTh3 Iraining. Al church owanisalions ar8 rnad¢ 8ware of tthv and when to contact I Safeguarding Ccxxdin3tor v&tho. when nactssary, will pass on the rglovanl information to the Chufd) of Scolland Saleguarding Offic&. The Saleguarding Coordln8tor reports regukgdy lo the Kirk Se55ign which ha8 an overall responlty al maitern of safgguarfing.
ARBROATH OLD & ABBEY PARISH CHURCH TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Th8 lfjrk Session nonnalty meets up lo lknes year Is res[ble for th¢ splrltual 8ffalrs wltNn thè thuTch. Under the Unitsry constilutk)n, certain $nglIleS aw ¢J¢legated to sub-ctsnrittees of Ihe Kirk Session, Ihasè b8lng FabrSc. Anance. P8Storal Care and Worfd Chur¢h. Ead) $ub<omm6tt8618 chalred by an elder or elders bul consl8ts of dder8 and members ofthe Lxjngrryation. The Trustees. reporl was approvwj by the Board olTnJ8te85. Session Clerk 14 Math 2023
ARBROATH OLD &ABBEY PARISH CHURCH STATEMENT OF TRUSTEES, RESPONSIBILrriES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees are responsible frjr pxeparing the Tru5t8ès' Rèport artd th• fNnckal ststements in accordarbce wth ap1¢ab law and United KiThJdom Ats))unllrvJ Stsndard$ (Unfit8d Khykni Generaly Accepted Accounlng Prgdcgl. Thg18W appllcoblo to ¢ntIeS In Scotland rgquiras the T18100S lo wepè fin8ndal Statements for 8aL finandal year which give a tnjo and falr ¥1 of Ihe state of ol th8 Churth and of ihe income and trxpondiluro of th¢ charity for that y88r. In prepariro these finar1 stslefflents, th8TnJste85 are required to: - 1?¢1 suitablg ¥¢¢ounth"ng Polk and then aFvty them C51st8nty. - obBerve the methc<16 and yinclpl8s In th& Charitw SORP: - makeludgements and estsmates that •0 re3$or and wud&nt - slat8 whother aOkab18 acwunting 8tsndard$ havo b6èn foll¢ywthJ. suw to wy mat¢rial dtspartures dS8clos8d and explalned In th• flnaneLIl statemenis.. and - prepare the finandal Blatemenls th9 9olng oxc•m basls unlass It Is In8FrfKOWOto to wegumè that the cWty wiu continue in operation. Tha Trusl•&s are responsible fly keeng dequ8ts &¢ounting w>rds tllat $uffi¢l6nt to show and explain the ¢hgritys tmnsadons and disdos8 with feasonable awjracy al any limo thè financial po$lUon of th¢ Churth and gnablo thom lo ensyro Ihol thg finandal statements compfy wth Ihe Chariti'05 and Trustee Inve$1ml {Swtlgndl Act 2005, the ChafitSes A¢¢ounts IScol8nd) R•gul8tions 20C6 (as amondodl and the proSkIn8 of the trus1 deed. They are a150 r8sp¢n$ltAe for 88feguarding lh8 8ss•ts of tho Chwth and hence for taking roa8(able st•p$ Ic* th prevention and d8t•clion cl fraud and other irToguLgnts"as. Tha Trusl••s are respons8 lor the maintenaneé and int89ty of th• tharty ffin8ndal inlormatlon on th• CAgrega11Qn'$ webslte. Leglslallon in the United KIWM goveming the weparatlon and disseminallon of the fmanaal stslem&nts may dffl•r frryn18gislatw In OlherjurisdKtI8.
ARBROATH OLD & ABBEY PARISH CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARBROATH OLD &ABBEY PARISH CHURCH I rewt on the fin8ndal $18lem8rts of the Churcb for tho yèar érnjed 31 Demer 2022. which w¢ set out on PaJ8s 7 to 21. R•spKifv• respon•lbllbll• of Tru8t••s and •xamln•r The Church'$ Tru5tee¥ are responslbje for the preparatkjn of Ihe financial statements in accordance with the tsms of th& Charftie5 and TNslee Inveslments lkntland) Act 2(M)5 and tho Ch8rltio8 Accounts (Scotland) Regulatk)n$ 2006. Th? Charrt3 Trustees consJer Ihat Ihe audit requirement ol Regu18tion 1011 Ila) to Icl of Ihe 2trJ6 ALuunts ReguLgtions does not awy. It L8 my respons1.1 to eKamln? lh¢ financial Statsments as Nui under sèction 4411 Mcl of theAci and to stale wholhgr P8fbLw18r mottws hav8 c¥Jme to rny attention. Bas1 ol Ind•pnd•nt •xamln•f •tat•m•n¢ My ex8minaUon 18 cafflod out In acLvO8nf wllh Regulayon 11 of thè 20C6 knunts ReguLtytlons. An ex8mination includes a iwi8w of thè attounting records kept by thg (arTty and a o)mparlgon of thè flnan&1 8tstem8nts wesontad with those records. 11 also Indudes consideration ol any unusual items (Y discki$tJro$ in tho financial statemènts, 0j seeks e>planatnS from the tru5te88 conr&ming any such m8ttors. The prowlures uniyertaken do not prO{JO all the eviden that would be required in an audit aThJ consequently I do not expr8SS an audlt ¢)pinlon on Ihe 7lew gNen by lh• finandal slatsrtS. Ind•p•nd•nt •xamln•rf• •tat•m•nt Your attention is drawn to Iho lact that tha charity has prnparad financ401 $tslerTnts In accordancg wNh A¢¢ounbng and rep)rbng by Ch8thie8 WgPOrtng tholr aCunts In ac¢ordanc¢ the Fina01 R•wtlng Standard applicable in the UK and Rapublk of Ireland (FRS 1021 in fOr¢n¢t lo the AccountiThJ and R8kY)rting by Charftles.. Statornonl of Rocomm•nd•d pr8d1 lssuod M 1 April 2D)5 which 16 referred to In th8 extant ulations but has now be wlthdravm. l understand that thls has been done kn order lor tM finarKW statements to wovide a tsir view In accordanc8 with G•n•r81fy A¢¢epted A£(xyJnllThJ Prnctic4 effeCU for F¢rfc#J8 b•glnnlng on or after 1 J8nuary 2015. In ¢onne¢lion with my examinatiL¥), no other mattar oxcept that rd•rrod to In tho ple¢>J8 parn9r ha8 to my attentlon.. 18) whi¢h gives me 880n8bIe cause to bdleve that In any maledal rnspoci th& roquirements.. to keep accounting rgcryd¥ aCcryda1 wilh 44{11 lal of the 2005 Act and Rogulalion 4 th8 2LX)6 Accounis Rtyulation$: aTrJ 1111 to prop8r& finanoal ststemen18 whith accord 7•rith t •w)unting record8 and comply wh Rawlat*)n 8 of tha 2¢XJ6 knounts Regu181i0r. have not been met or Ibl trj whlch, in my oplnbn, attenllon Shlj be ¢travm in onler lo enatle a wopor understaThJln9 of tr• flnbncral statwnents to be reached. Dated.. 14 Marth 2023
ARBROATH OLD & ABBEY PARISH CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 310ECEMBER 2022 Curr•nt flnancSal y•ar Unr•strkt•d RMlrf¢tod fvrHI• fund• 2022 Total Total 2022 2022 2021 Donallons and legacies Charitsbk? actNllles Investrnenlg 0th8r Inc%)me 44.981 3,911 919 45.835 44,981 3.911 1,089 45,835 66.454 7.680 123 18,854 170 Total In¢orn• 95,446 170 95.61 93.111 charitsb activitS 98.269 98,665 94,547 Nel gain81lbssesl on investrnenls 11 11.2751 11,2751 1153} N•t M0Ment In funds {4,098) 1226} 14,3241 (1.5891 Fund boLqnces at 1 January 2022 284.283 14.072 298,35S 299,944 Fund bal•nc•• t 31 D•¢•mb•r 2022 280.185 13.846 294,031 298.355 Thè statement ol finan¢lg1 gctmles Indudes 415 galns and bsses ra¢ognis•d in the year. Al incom and 8xp8nthtur8 don've Irom conlInrt9 a(vilM.
ARBROATH OLD & ABBEY PARISH CHURCH STATEMENT OF FINANCIAL ACTivrriES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEIABER 2022 Prlor Iln•ncl•l y•ar Unr••tsletsd R•strl¢tsd funds fund• 2021 2021 Total 2021 Not•• Donatlons and legaues Charitabla atI Inv8Stments othèr Ineorn 66,454 66,454 120 18,854 123 18.854 Total In¢om• 93.108 93,111 Charitable activit185 94.151 94,547 N•t gainsl{knS1 on inv•stsn•nts 11 11531 11531 Gross transfers b8th•n fund8 N•t movement In lur*d• 1201 14131 (1.176) 11.589) Fund b•lance8 al 1 JanLWy 2021 285,459 14.485 299,944 Fund b•l•nc•• It 31 D•c•mb•r 2021 284,283 14.072 298.355
ARBROATH OLD & ABBEY PARISH CHURCH BALANCE SHEET ASAT31 DECEMBER 2022 2021 Flx•d as8•t8 Tangible assets Investments 12 13 121.732 7.012 128,139 8,287 128.744 136.426 Curr•nl us•ts Debtor8 Investments C88trt 8t bar& and in hand 14 15 4.071 86.322 81,194 8.539 75.977 81.981 171.587 166,497 Credttor$: amounts lalmng du• wlthln on• year 16 16.3WI 14,5881 N81 current assets 165.287 161.929 Total a•••t• l••• ¢urr•nt Il•bllltl•• 294,031 298.355 com• lund• Restricted lunds 17 13,846 14.072 D88ignalod funds General unie81rtcted ld6 18 234.295 45.890 244,424 39.859 280.185 284.283 2>¢.031 298.355 es on 14 larch 2023 Session Cl•rk erotoi
ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR fHE YEAR ENDED 31 DECEMBER 2022 A¢¢ountlng poll¢S•s Charity infonnatlo Aloroath ¢Jd & Alkny P•iith Churth is a tharilabfe crynisation registered wth OSCR Icharfty numbèr SC0113531. The Mnc4ple offic i8 WestAbbey Street, Arbroath. DD11 1EQ. 1.1 AGcountlng convenilon The financlal slaternents have tn prepared in acconlance with the Churth's Unitary Constltullon, the CherS and Trustee InVesthnI IScorfan¢) Act 2005. tl Charrtles Acwunts IScoU8ndl Regulations 2006 las amended), FRS 102 'The FInaral RoFthng Stsndard appll¢ablo In the UK aThJ Republic of Ireland" I"FRS 10f) and th¥ Charities SORP 'hm)unting arKI Reporting by Chariti8s.' Ststem¢nl of R8commended Pracuce applICab to charities preparing their accounts Sn acurdanc4 with thg Flnandal Rewting Stsndard 8pplic8t4e in Ihe UK and Repubk of Ireland IFRS 1021" {gffe¢tive 1 January 2019). Th8 Church Ss a Publi¢ 8¢ngfi1 Entsty 88 defined by FRS 102. The Church hBS taken advant40 of Ihe pro¥1¥y in the SORP fry ¢hgrtsg3 fKl to prepare A Statement of Cash F. Tho flnan¢lg1 $t8tements prepad In 81ertlng. whl¢h Is the lunthnal omncy of iho Church. Mone amount8 ¥) flntrtKg1 statomts aft TKIed to the nearest £. The financial Statements have been prepared und8r th• hlstorkal cogt cnvOn11on. mottillod lo indudo the rnvaluauon of Investments. The prinupal accthjntfftg poli¢is adoptéd ara sgt out b¢lxt. 12 Golng conc•rn The Trustees CC5•d¥ that thgro arg no rnaterfal Uncn•S 8b)ut tr• ablllty of th8 chqrfty to conn for the lor888&at4e futurg. gThJ •Jopt¥d the gryng COr•M bgsis In preparing th058 finandal 8tstsrn•nts. 1.3 Charltabl• fvnd• Fund3 are da8sfi8d 85 oilh8r regtrKtod fvnds or leStrICted funds, defined as folkyws. Re81rfcted fvnd3 are fvnd8 subled to SP8u'fic qUirements as lo their usa whth may do¢18red by the donor or wth their aulhority or ueated th9h169a1 K¥OC•. IYA within th¢ W•1 objocts of tho tharity. Endowmont fvnds grg fiJThJs vknkh hav• b¢•n gfvn on tho cgmdlllon that the oivJinal pital sum 1$ not ducttd. but lh• Inc(X tharè from is used frx rwrpose defined in accordance wllh th8 oblts of the charfty. Unrèstrthd fuThJs wè éXFyJabla 81 th• dis¢xobM of the trust In fvrthèran¢8 of tho objacts of tha th•rlty. W parts of ¢h¢ unrosiri¢t&d fvnds are eawmarked at Ihe diScOn of the trustees for a pathulpr purp)s9, they are d8slgnated as a separate fund. This despJnalron has an adnNnistrativ8 puryx>sé only and tJ¢m not18gally restrict the Inlee. discrel)n to appty hjnd. En(knim•nt fvN18 are subject to [MIlor by donors that Ihe rapital mu$1 bo IntaIn6d by thè Churth. 1A Rwnlllon of In¢¥m Irwxme Is recognised vthen the charity has enlill&mont to thè funds. any p8rforman¢e cond11$ attath8d io tha rt8rnlsl of irKom• hava en mot. It Is probablo that tha VAII bo rocoNgd and the amrjjnt can ba rneasured Teliably. Cash donaticns are rectyrtL8ed on receipt. other dationS pAe rec0grid once the chu b8en notified of the dwulbon, unless performwce dItiOnS requ1 deferral of the amourt Inctyng tax recoverable In rekgtlC to rJnations received under &'ftAKI or deeds of covenant is recogni8 at th8 lirn8 ofthe datiOn. 10-
ARBROATH OLD &ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ac¢ountlng pdi¢l•s (Contlnu•dl Legaries #rè rèwnlS M r•¢¢lpt or dherwse if thg chu Iw ten notffiod of an Imp8ndlng dl3lrfbulKJ). the amunl is known, rKelpl 1$ •xp8dl. 11 thè arrAyJnt Is knthvn. th8 legacy is treated 8$ a contir4Jent as8el. Donated •grvlc•• •nd f¥llltles Donaled profesoal services and Itr)n¥t are rwnisad as 11Kme vthen the tharity h88 control over thè item. any CondionS associated with the donaled ilem have mgL tha recaipt of economic bon8fil from lh6 use ty the charity ol the item is probab and Ihal ec4)rKJrnic benofit ¢an b¢ m¢a$ured reliably. In a¢¢ordan¢e wrth tho Charrfles SORP {FRS102) the general volunteer tiff of th& congrogats.on m&mbers b not rwnis¥d. On recelpl, dald prolessknal servkas and &)nat8d fadlltl8s ara rw)Jnis8d on the bas¢5 of the value ol the gift to the tharity is thè amounl thè charity w(yJld hav• b•8n wlling to pay to obtaln se¢8$ or facilth'es ol eouivalonl noMIC beneflt thi the opon market. A rAxf•sp)prtllng grr&MJnt Is then rncognlsed a6 Xp6ndIre In Ihe period of receipL Grants Induding government grants are Included In the Ststorrénl of Finandal Acdvlbes on a receivable ba65s. Th8 balance ol incorne received for specifK wrposes but Trjl expendèd during Ihe pgdod Is shown in the rebvanl fvnds Ihg Balanca Sh88t. Int•r••t r•1Vabl• Inlgrggt funds h8kl on deposlt Is included when receivable Bnd tho 8rrvJnl Can rn88ured rallably by the ¢hority.' this is nrnal UF¥)n nolifKation of th8 inierest paid or payable by th& Bank. I.S Ro¢09nlllon and Alloeallon of Exp•ndltur• Expenditure is included in the Statement of Finandal A¢tfvlbo$ on an acuul8 bo81$ and 18 r¢cowlsed when thgrg Is alegal or construcllve ClIgation to pay ft>r expendrfoJre. 1.6 Tanglbl• flx•d u•t• Tangible fixed assets are initsalty measurnd al cost and wbs•w•nty m&a$ur8d al COBt or valuation. n8101 depreoabon and any impainngnl k)$68$. Thè chailty has the rlght to occupy ar¥J use for it5 th8rit8bb obi¢¢ts crtain tatvJibb fixad assets, induding the Church, halls and manse, Vest in the Church of SeoUaTha Gon•ral TTU$tees. No ¢onsldar8tk)n is payJl& for the u98 of thaso asseis. Expenditure incurred the repair and mainlenanc8 of thès• aSts Is chargd as r&$tyJrcès expendad In the Siaiemonl of FinarKial Acb'vities in Ihe pencJ in whlth the Ilabllity ar¥$. l tsnglble fixed assets costing in exce of £500 haThJ a vabJe lo the charlty greater than one year, othor an those acqulred spe<ific putposes. arn catxtalised. Dopffjoan is provided on a straight4ine bas3 to write off the coyt or initial valu&, r8sK1U Wak, oft¥Ible •d 8S8¢ts over esomaled u8eful Ilve8'. Plant and equlpment Fithros and fiiiin9S 3 yws str¥ight lina S yws strautht Iln The gain or loss arislng C¥1 th6 dlsposal of an ass81 is delefmined as the dThTerwè betwagn the 8810 procegds and thg Carn9 Val of th8 asset, aThJ Is reccgnised In the slatement of finanrial activities. 1.7 Flx•d ass•t Inv•sthi•nts Fixed assel investThnls are stated 81 market al th& baTrarKx s1 dale. Unr8alised gains and losses ropresent the dffiete bebveen the markel vthe at Ihe beginning arvj gnd of th ffinaal yaar or. rf purthased in the year, the drflerence been c¥)st and market value at tho end of the y&ar. Realised gains and bsses represanl Ihe difference between the procg•ts on diskM)sal and th8 market Value at th8 stsrt of the yoar or cost rf Wyraed in the year. 11
ARBROATH OLD &ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng polkl•J {Contlnu•dl 1.8 Impalrm•nt of fix•d a#$•ts At each repoiting end date, the Ch(Yth th• carrywig ¥mcwnls of its t1)1e assets to determine whelhar there is any indication that ttho assets h8ve suffered an impaiment loss. If any such IndatiOn 6sts. the rec4)verabl& arnount of as1 is •stimatèd in order lo d8termin8 the extent of tha Smpalrmont k)ss lif any). 1.9 Flnanelal Instrum•rt• The Church has elecl8d to appty tha ProwonS of Sedion 11 'B'C Financlal InstrLwnents' and Section 12 'Other Financlaj Ingtrum&nts Issuos. of FRS 102 to all of its financtsgl instruments. Flnandal InslNm•nts arg fwnised in the Churi'8 balance shoat th Ihg Ch(r b•conw paty to I contr8Ctual pth$10n5 01 th• instrument. Flnanaal assots arbj 'lItIeS are offset. wth the nel omwnts prwnt•d In tho flnandal s18l•ments, wh there is 8 Je9ally enforcea rlght to sat off th8 recogn1 amour)ts oTrJ th•re Is intsntkjn 10 88tU• on a n8t basis or lo reise the assèt settle the Ilabllity Slmultanejsty. 8•sk Iln•n¢ll •$$•ts C4•h and cash •qul¥•l•nt• Cosh equlvalonts IndJe cash in and deposits held at with the Inve8tor8 Tru$L D•btorn Trade and other deblcn affj reecgni8ed èt th8 setdement AmnI duo after any di8count offernd. Pwpaymenls are VUed at the arTh)unt prepold net of ony discounts duo. Wc Iln•n¢l•l Il•bllld Cr•dltors CreditorB are normalty r8r£gnls•d 8t tholr 8atYamont rnnt after (or any tr&• dl8LyJunis duo. Dergcognltlon ollln•n¢l•l N4blllU•s nancial liabilibes am doreowisod Ihg Churth'$ 0Xtrlua1 obllgallons 8xpbre GY are dar9ed eancelled. 1,10 Taxtlon Arbroath & Abtw Partsh Churth 4 recognl88d 88 a tharlty for the pury>osgs of awlublo taxalknn 199igJalon aThJ 1$ IherefLYe not subj'ect to tsxalvx its charilable actie$. Tho chonty ts ncl regislored for VAT and resourc4$ 8xpen thtrrefore indude irretherable Input VAT. 1.11 Employ b•n•fft• Tha cost of 8ny unuwj ents.1Ment recowised in th& p8rKJ in whh th• amkn?'¥ services are r8¢0ivod. Termination beneffts are recognlsed irnmedlatety as an expgn$e ¥thon Iho Churth IB denKJnstr8bty MmI1d lo terminate tho ernptynt of an 8mpkJyee or to provKl¢ tgm1inal. b9fits. -12-
ARBROATH OLD &ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 CrltlrAI ac¢ountlng tIM1• ond Judg•monts In application of the Churth'$ aco)unttng polxs, the TnJyto0s ¥e rwuSrnd to mak8 judgom8nts. gsllmatès and asgjmptions aboul the carryiryJ amount of assets and lsabilities that aro not madity apparent from othtsr sr¢¢3. The estimates and assoclated asSUmpnS are based on histOriC81 expornnce and othor f8dor5 th818rg Con$er0d to r•l•vant. Actual r8suMs may (or frorn these esttmates. The eBt¥nate8 and Undertn9 8ssumptw$ arg VI9 on an ng basls. Roviskns to accounting esbmates are recognised in the period in whth Ihe oslimat• is r•vtsed where the fevision affects cnly that period, of In the period of the revision and future perp)ds where Ihe rev19N)n affects th ¢urTenl and future Pgrfods. K•y sour$ of Mtlmatlon un¢•rt41nty'. D•pr•clatlon Tangible fixed ae8ets are depreci•t•J ¢)vw • pritsj to rthct trir 88timatgd u8gfiJl INes. The plIcab111ty of tha Assumod 18 rovlewed amually. t4klrvJ N)to (nt lartors SLKh 88 physical condition. malntanance ond ¢)b$O1¢$¢gn. Flxed assets also asses as to whoth8r th8r• indthvs of impainn8nL ThL8 a86•98m•nt Involv•$ ¢onsidoralion of the e¢otM)nk vlgb4hty of th• Puryse forwhKh the osset is usod. Don•tlon• and l•gaGI•• Unr•¥trlct•d Unrestslctod fund• fvnds 2022 2021 Donatksns and gift3 44,981 06.454 Unr••trl¢t•d Unre$trlct8d fvnds funds 2QL7 2021 Donatk¥ns and glft• WFO & Gift A*d Op8n Plate Just Giving Websit¢ Tax r1ed on G6ftAld Othaf donalwjns National GIng Day 32,937 3,258 927 6,265 1,593 45.568 520 1.374 7.877 7,462 3,8$3 44,981 66.454 13-
ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltabh athlti 2022 2021 Operatn of church and thurch h• Porformance related 9rants FurKlralalng Incomg 3,738 173 1,986 4,045 1.649 3.911 7,680 P•rfornwic• relatsd gr•nts Coron8vlnJs Job Rétenti Stheme 173 4,045 173 4,045 Invostm•nt$ Unr••tsl¢t•d R•strl¢t•d fvnd• fund¥ 2022 2022 Totsl UnTestslct•d R&slrict¢d fiJnd¥ funds 2021 2021 Totsl 2022 2021 Ineome from unllsl•d Investment8 919 170 120 123 Olh•r In¢4Xn• Unr•strlct•d Unr•strietèd fund• funds 2022 2021 Rental of churth hgl Rental of Mans• 33,635 12,000 14,361 4,493 4S,635 18,854 14-
ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2022 Charftabl• 4dlvltl•¥ 2022 2021 Staff eosts Depreaation arKI impainnenl Travel Ministries & m155K)n$ allocalion Pr95bytary du8s R8t8s, wat8f & insuran Heat & Ilght Repair5 & m8lnlenanc• PnIfing. 8tsllonery & 8dv8itislng Cleaning T818phone Sunday Bchool expenses Olhei costs Bad d8bts Manso rent exp8ns8s 18.998 6.407 7CN) 35.011 12,748 6,744 933 32.487 838 4.703 6,848 9,210 1,091 1,397 776 4.611 8,768 8.346 245 1.613 791 396 2.601 2,178 1.536 5,780 90,968 86,293 Share of support co8ts1880 n¢Xe 81 Share of governan(¥ co8ts1so• noto 8) 3,847 4,050 4,604 3,650 98.685 94.547 Anal1¥ by fund Llnresthcted lunds Restrlcled funds 98,269 94.151 98,665 94,$47 Included in ihe totsl costs fty 2022 arn £396 01 restriL*ed expen relatiro to Sunday S¢hwl 12021 - £3961. 15-
ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support Costs support Gov•mance sts 2022 Support Gov•rnnce ¢ts 2021 staff ojsts Rates, water & insuranc8 Telephone 3.847 3.647 3,456 918 230 3.456 918 230 AcOntancY 4.050 4.050 3,650 3,650 3.647 7.697 3.650 8,2S4 An8lysed botwi Charitable acti118$ 3,647 7.697 3,650 8,254 Gov8rnanc8 costs InCd•S payYn•nts to th8 ir&p•nd8nt •xamin•r of t4.012021- £3,650) for indopondent oxaminauon of th• Charftys 8c(xiunts. Twst•• During tho yéar, no Trusleos rocepfftl any refflunernliL or Any oth•r bon8fits12021- £NIL). Oudng the year, no TnJst8os r8c8ivod any b&n8ffts in kJnd12021- £NILI. Ouring th8 81. no Trust88s r•d any rmr$¢MnI of ¢xp•ns¢s12021- £NILI. Durlng th• yoar. no itoms of ramun¢r•tth wtrtr wawed by the Tru¥toes12021 - ENILI. 10 Employ••• The averag8 [rth[Y number ofgmpbyws durfr4J tho yeorwas: 2022 Numb•r 2021 Numb•r Music 8laff minitratkJn Premisos mwnien4n¢e Totsl EmPYM•nt eo•t* 2022 2021 Wage3 Jnd lart 22,645 18,204 S[01 rity costs Incurred in year were £NIL12021- £NILI. Al Church of Scouand contribute lo the NatKnal S1[ fijnd which bears Cost of Hll ministers slipends and e0y8rfS contrfbukns for natlonal Insurance. penslon and houslng and loan fund. Minister Sthpends are paKI in accordance the nalional stipend scale. iCti is rdated to y•ars of 5eNce. For Iho yoar under review the minlmum Stipe was £28,7C(J12021 - £28.7001 and th9 mthmum St1pd in 5th and subsequent yeats of seThice- £35,269 (2021- £35.269). 16-
ARBROATH OLD &ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Employ••s {Contlnu•d} Thor8 w8ro no eThploy88s thosa amual r•mun8ralKJ) was than £60.0. 11 N•1 gain110$••j on Invostmw Unr•strlct•d Unrestricted funds fiJnd8 2022 2021 Rgvoluallon ol Miveslnwts 11,275) 11531 11 TangSbh Ilx•d ••••ts PJ•t and Flxtswu n •gu*m•nt Iitth Tot•1 Co•t Al 1 January 2022 158,745 167,308 Al 31 DOCnber 2022 8.583 158.745 187.308 D•pr•elatlon and Impalrnmnt Al 1 Jonuary 2022 Depreclallon chBrgod In th8 year 8,583 30,8C6 6.407 39,169 6.407 Al 31 Docamber 2022 8,563 37,013 45,576 C•rrylng amount At 31 December 2022 121.732 121,732 Al 31 D¢¢embw 2021 128,139 128,139 17-
ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 13 Flx•d asset Investments Unllst•d Inv•stm•nts Cosl or valu*tlt)n At 1 January 2022 Unrealised ga¥Vlloss) Investments 8.287 11,2751 A¢ 31 Decernber 2022 7,012 Carrylng •mount At 31 December 2022 7,012 Al 31 December 2021 8,287 14 D•btor• 2022 2021 Amounts l•lllnq du• wlthln on• y•ar. Trad6 debtors Other debtors 4,071 1.OJO 4.071 8,539 15 Curr•nt I¢1 Inv•stm•nts 2022 2021 Unllsled Investmen18 86.322 75.977 Currènt 888el wivesbnents In Com$•j sol8ty of cash owvaknls on d•posit with Chur¢h cl Scoljand veslors TNsL 16 Cr•dltorn: amount• falllng du• wlthln on• y•ar 2022 2D21 Other taxatKJn aThJ s(wl SoCty Trade creditor5 Other Creditors Acuuals and deferred Incor 21 2,OTT 120 2.350 2,931 120 3.249 -18-
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ARBROATH OLD & ABBEY PARISH CHURCH NOTES TO THE FINANCIAL STATEMENTS (CoriNUED} FOR THE YEAR ENDED 31 DECEMBER 2022 19 Anatysl of n•t #s•ts b•tw••n funds UnrMtrlct•d R•Jtrlct•d funds funds 2022 2022 Total Unrestricte(l Restricted Jnd$ funds 2021 2021 Total 2022 2021 Fund balances at 31 Oecèmbef 2022 are repr&8enled by.. Tanglbk assets Investm6nts Current awWlliabllitb8s1 121.732 7.012 151.441 121.732 7,012 165.287 128.139 8287 147.857 128,139 B,287 161.929 13.846 14.072 280,185 13,846 294.031 284.283 14.072 298,355 20 Volunt••r• In common with all c(grega11cffls of the chu of Scodand. thg rnngregation b¢n&ffts from the ributn made by vdunteers who glve thelr Ime and talents llInglY for Iho benefit of the ¢Jd and Abbey. The ar&8s 01 COngr8gatical Il• which re on th* ¢OntributiC ol voluntegrs ¥re rnany and varied and much of the activSty woukl bg unat49 lo nnue w•r• It not th& c¢mrnAlment sho1. 21 R•l•t•d rtY mctIOn• Durtro the y88r. Tr1 oJJe¢tlvety dcmted a sum tr)tsIlir £9,45012021- £17,101). The Minislew3 iKeived remuneration of £8.83112021- £2.079). 21