Dundee: Meadowside St Paul's Church of Scotland Report and Accounts for the year ended 31 December 2021 Congregation No: 291769 Scottish Charity No: SC013162 17fGhbold
Dundee: Meadow5ide St Paul's Church of Scotland Contents P4e TTUStees' Annual Report lieport of the Independent Examiner Ststement of Financial Activiti<8 10 Balance Sheet Notes forniing part ofthe FiRan¢ial Ststements 12-20 Appendix 21 archbold
Dundee: Meadow$id¢ St Paul's Church of Scotland Trnstees, Annual Report Year ended 31 December 2021 The ttustees present the annual report and accounts for Dundee: Me&k)wside St Paul's Church of Scotland for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accow)ting policies set out in th¢ notes to the accounts and comply with the General Assembly Regulations for Congregational Finanee, the Charities and Trustee Investsneni (Scotland) Aci 2005, the Charities Accounts (Scotland) Regulattotts 2006 {as amertded) attd Accounting and Reporting by chitIeS.. Statrment of Reeommended Prathie¢ applicable to Charities preptiring their a¢¢ounts in aOrdanCe with the Financial Reporting Siand8rd applicable to the UK ad Rewblic of Ireland effective l January 2019. The Chur¢h of S¢otlaDd is Trinitarian in d(Ktrin¢. RFforni in trth]ition and Ptesbyterian in p)lity. It exjsts to glorify God and ¢0 work forthe advan¢ement of Christ's Kingdom thrOUgUt the world. As a national church, it acknowledges a distinctive call and duty to bring the Ordinanc of religion to the people in every parish of Scotland through a tetTitorial ministy. Itco-operates with other Churches in various ecumenical bodies in Scotland and beyond. Congregational A¢¢ivities Worship Sunday morning worship Café church worship with St Artdrew'$' Choir. For Young P¢ople Swiday Club• Beavers. Cllbs & Scouts. For Adults Guild Crnft Club Dor¢as So¢i¢ty' Weth)esday Club (for the homeless) JoitLt services of worship with other city entre ¢ongreg&tions of various denominations Ecunenical Holy Week 5erYices' Christsnas Eve service tknirs Open Days Connections Café for refugees and fton-English speakers {wi¢h other City centre churches Dedieation Services for organis10$. ' not during lo¢kdown Achievements and Performanee 2021-saiv the rst full-year of th.e Both congregations have been ble scotlan both nationally and locally. ministytothe linked charges of Meadowsikst Paul:s and St.Andrew.'s. astordl care leadership over a year of major change for the Church of Despite having return to face40-face worship from OCtor to December 2020, th¢ yearbegan with a return to pandemi¢ restrictions. The Minister and members worked together to wjvide weekty online worship on Sundays through a dedi¢at¢d joint websife. This followed by a liv¢ la1 gath¢ring on Z4)om, wljirh ¢strblish¢d new and str¢ngth¢n¢d existing relationships between memlts of immh congregatiorns. We rebjrned to face-tfrfa w(thip at th¢ end of March 2021, moving to a pattern of regular services ai 10..00am, with joint serviees at I I:(X)am in months with 5 Sundays. alternating the host church. National and Chur¢h of S¢otland guidanc¢ meant thai w¢ ¢ould still not initially operate the thurch building at full Caplty, but attendartc¢s have MaIned stable throug1t all the changing requiternents. Sta(fing levels have remained static- our Orgaiiist and AssislantTreaswer contimied working remotely over the lockdDWiI period. The vaGant P05t of Beadle wa5 not re-recruite rchbold
Dundee: Meadowside St Paul's Church of Scotland Trustees, Annual Report {conL) Year ended 31 D¢¢¢mber 2021 Congregational B04rd and KiTk S¢5sion meetings Continued remotety via Zoom. At its General Ass¢rnbly in 2021, the Church of S¢oiland intr(Kluced a mechanism whereby Kirk Sessions could aN)oint members io th¢ Congregalionai Boattl until a valid Stat¢d Annual Meeting Uld be hel¢1 so ai a SeptemEer meetingof the Kilk Session. those Board members who had retld and wished to serve again were re•appoinied. Much of our face-to-face outreach and patts)ership work remained neeeswily ffi hol due lo restrictions on the use of buildings and social distancing requiremeAts. However, Betvers, Cub5 & Scouts and the Guide Shop were able to reopen and resume activities face-to-face in July and septem re$tly¢5y. The congregation's hvo shop prtmAs¢s r¢mairted Un¢Up]ed in 2021. H4)wever, in Augus¢ the tetunt of 118 Nethergate began the proce&s of rewiglling her lease io a ptIal rthv tenant" and in November, there were ttvo expressions of inlerest in 112 Neth¢rgat¢. We hope that 2022 will see niatters concluded for both woperties, with both Id at market rent. The Church of S¢o¢land Law Department will for the congregariott tn bod) transactions. Regarding 112 Nethergate, the previous nant made a contrib19 to the dilapi(lation costy albeit not the 11 amount as &stimated. The chUh of Scoiland's General Assembly in May a churdFwide R&lie4] Action Plan (RAP). as a response to a decline in membership a1 numbers in l14me ministy, and a sup¢rnbuttdone¢ of ¢hurch buildings requiring upkeep whirh were either not fit forpuoSe or in the wrong location. Following this, Dundee Presbytery produced an updated Presbytery Plan al its May meeting. with a view th translating the requirements of the RAP inio the local coniext. The plan foresaw significant changes to the position of the congreoatjon. particulatly with regard its lIdIngS, which were designated as "redevelop with different fijnction" The congretsaiiiTrn. lucky io b¢ alre linked with St Andrew's under a sitting minister. would no longer be able to worship in the sanctiiary in Ntth¢rgatA #nd on aliemaiive use would have to be found for the church complex. Worshipping on¢ loc?tion would also m¢an that Meadowside St Paul's and Si Andre$ would move towards becoming a united charg¢, not a linked charge. The Presbytery Plan also placed an obligatÈon on congrega¢ions within 'grouping" (a loose g¢ogrdphicai area) to w(x together cffi a cohmi vision for mission and pn)vision of "Churth" within the grouping- based on the Chuwh of S¢otlands Five Markt ofmusion. One of the emergtng optiffis forth¢ r¢developm¢nt of the church aJMJ hall complex was that of le&sirtg the building to a Charity whose objectives were aligned with the vision and ethos of Meadow&&de St Paul'4 and this approa¢h was agreed by the Kirk Session. In July. an informal approach was made by two local charities {JusrBee Productions tnd Making Dundee Home, who were in the process of merging as JustBee Productions). They were curtently bed in other chur¢h premises in Dundee but were attracted by the faciliti¢s pnd larger space available at Meadowside St Paul'& Their work provided support and services to the homeless and those $truggling with addiclioo and clearly aligned with work pviOusty carried out kt Meadowside St Paul's. In November, due to the expansion of tbeir activities. JusiBe¢ Produ¢tions outgrew their previous premises, and the Kirk Session agreed to enter a partnership arrangement with them whereby they would use the ha]1 premises to host their ctivities for a morAthiy reTht- the group moved in at th¢ beginning of Nov¢fnb¢r. 2022 will be ayear of proactively implementing change. We will Continue to build relationships with St Andrew's as we becorn¢ one church family an&to contribute to the City Centr¢ Grouping and PTesbytery as we seek to deliver the Fe Mor ofmusion in the centre of Dwhdee. The lifting of pand¢mi¢ r¢5trictions will also free us to think creatively again,. and the Uaion will allow us to do new things togethv. inancial Review Restrictions arising from the Covid-19 pathic ¢ontiDued to a greater or lesser extent through 2021. affecting both income and expenditure. A prin¢ipal source of the congregaiion's ordiftary income ranains the giviug by its members through Weekly Freewill Offering envelop¢$ or monthly or annual donations, including a substantial proportion given under the Gift Aid scheme. The gradual in¢r¢ase in attendance at in-person services. and continued support thrwh Standing Order5, led to a slight increase in offerings of £1283 (5.4¥•) from 2020. We continue to review in¢om¢ regular]y * Congregational Board meetings, analysing ihe ehanges in method5 of giving by the collgregatioll, and always ¢n¢ouraging Gift Aid th)nations where appropriate. Members are asked to review the level oftheirgivingregularly. Two lega¢i* totalling £l1.641, were received in2021 and w¢ r¢m¢mberwith grdtitude the generosty of the donors. archbold
Dundee: Meadowside St Paul.8 Church of Scotland
Trnst¢es' AnnuaI Report (eont.)
Year ended 31 December 21J21
Although external lets of the hall premises remained suspended for most of 2021, the re-opening of the Guide Shop and the
letiingarrangementwith JusiBee Productions (referred io earlitt in this Rep)rt) in the latter part of they¢ormeantth¢ resumption
of an important income stream. The shop premises at 112 Nethergatr and 118 Netherga ¢ontinued unw¢upied throughout
2021, with no rentsl income received. As part of the negotiations to re-assign the lease for 118 Nethergate, the Congregational
Board approved a retrospective adjustment of receni rent levels for the prernises under the Current lease, resulting ID most of the
'back rent, being written off. Some of (his was included as a debt in the 2020 a¢¢ounts, and the necessary adjustment in the
ccount$ has resulted in the apparent negalive figure for 'Rents Received, shown in the 2021 accounts. As mentioned above,
n¢gotiitiOnS are well advan¢ed in sewring new tenants for both Shop premises, with the expectatioo that this source of income
will resume during th¢ middl¢ part of 2022. We have maintained conlact with our previou5 hall users and look fornvard to one
substantial user returning later in the year.
With closure of the chUh and hall premises for the fiN three months of the year and restricted use for the rematnder of 2021.
fabric and other buildings expenditure remained at a similar level to the previous year. although utilities costs increased with
higher levels of h1 usage towards the end of the year. Some fijrther expelldiDJre on the Matw, including some urgent Work
identified in the Quinquennial Property Survey, was met fr(*n the Spe¢ial Provision Fund rath¢r than the G¢n¢ryal Fund. In
cordance with the B&sis of Linking between Dundee: MeAth)w$ide St Paul's and Dundee.. St Andrew's, expenditure on the
Manse, along with othtt joint Costs, is shared on the b&%is of one-third (Meath)wside St Paul's) I twfrthirds (St Andrew's).
The transfer of the value of Meadowside St Paul's share of the Manse hekl in the MaDse Fund from the Kestricted to the
Unrestricted Designated category is an adjustment c(Krecting a miswlderstsnding in the 2019 and 2020 accounts. The Manse
Fund was originally set UP L8 Designated Fun
Dundee: Mvadowside St Paul?s Church of Scotland Trustees, Annual Report (conL) Year ended 31 December 2021 kee and MAintenance of Buildi .. Tominimise fjnancial risL we ensurewe keep suffi¢i¢ttt fid5 available to meet expected levels of repairl maintenance costs. We have a Propety Manag¢m¢nt Cornmittee which regularly inspects the various buildings to ensure thal all work required is identifiedanddealt with withoutdelay. minimising expense5 and the risk of injury to the publi¢ due to defective buildings. We addressing a number of issues identified in the Report of the Presbytery's Quinqllenni21 Property Sutvey undertaken in 2021, whilstnoting that Presbytery has sisted all building works exceptemergency works pending agreement of the Presbery Plan. Financial nom .. We recognise that the global economy can IM the value of our assets. Whi15t we cam)ot influen¢e the e¢onomy we can ensure that our investments are monitored regularly to prote¢t their valu¢. The past two yearshave made us all too awar¢ of the effects that other global facwrts t¢yondi)urwntrol canhave on th¢ life ofthe ¢ongr¢gation and its financial position. and as noted below every effort is made to saf¢guard this. W¢ aware that a significant proportion of our total inyestments is held in one shareholding {Allian¢e Trust plc). The Financ¢ Committee maintains an awareness of investsnentholdings and the fluctuations in theirvalu¢ arising froln marketconditions. Divid¢nds from the Alliance Trust remai healthy. al Res onsibiliti&s and Govemance Chan ¢s- We ensure we maintain awarenes5 of our legal responsibiliiies in iernis of financial reportll)& data protectio health and saf¢ty. employment law etc. by working with Televant experts and advisors. Reserves Policy It is the Trust¢e$' poli to hold suifi¢i¢nt reserves to meet the needs of the charity, always aware that the congr¢gatiou's extensiv¢ buildings (5an¢tuary, hall MpleX and shops) are situated at the cn)ssroads in the heart of city life and should any ¢m¢rg¢ncy or un¢xp¢cd repair5 be required the mattrr has to be dealt with without delty. Unrestricted funds (including those d¢sign8t¢d for 5p¢rial pur5¢5 &5 shown in Note 13 10 the Firwicial StsmenLs) of £123,739 and inv¢51menls of £75.317 {at market value) were h¢ld at the end of th¢ ye. Wknile this may be higber than would nomally be expe¢ied, the Trustees are aware that signifKant funds might be required for planned mainienaDce and upgrade of buildings. ineluding an AV system upgrade for the ChurGh. rnajor works required to the church Orga in addiiion to the issu¢s identified in the QuinqUerla1 Property Survey (Out1cd atxbve). SlfI¢•I1Y w0S to the internal roof structh. The desirability of holding thi5 level of reserves to allow a ¢shi0Th agaIti unexreted loss of income was ¢onfim)ed in 2020 and 2021 as the effects of the Covid-19 pandemic on the church's lift and sources of inclmne be£amc evident. As noted above, the enforced cessation of services in the church and us¢ of the halb for all PUTPOSes ai the end of March 2020 led to a severe reduction in income from offerings and from extemal lets and il is th¢ level of re5erv¢s held that have enabled the ongoillg expenditure requirements to be met without aDy disruplion. Meadowside St Paul's one-third interest in th¢ Mans¢ pUhsed with Dundee: St Andrew's and vested locally is included in th¢ accounts as a Tangible Fixed Asset. Restricted and Endowment ¢ash fimds totslling £121.362 and investments of£767. 905 (atmatket value) were held in aceordartee with putyoses Specified in Note 13 to th¢ Ftnancial Statements. At the year end the ¢hur¢h held Unres fimds of £299.776. of wbich £192.149 is held &s degignated nj$, including £100.720 in the Tangibl¢ Fixed Asset of the Mamse IlIdIng. The remaining balance of £107,627 is held in Genera] Reserve. The Chur¢h also held £767.9)S of endowrnt bjnds and £121J62of restricted fimds whi¢h hav¢ been provided for the PUTW)ses specified in Note 13. (Trchbold
Dundee: Meadowside St Paul's Church of Scotland Trustees, Annual Report (¢onL) Year ended 31 December 2021 Sirneture, Governanee and Manggemtmt The congregation is a registered charity. number SC013162. and i% admilliered in x¢eordance with theternis of the Model D¢¢d of Constitution and ts Slthject io the Acts and Regu10n$ of the er81 Assembly of the Chur¢h of S¢otland. Members of the Kirk Session and the Congregational Board ar¢ th¢ ¢hority Trustees. The minister, who is a merllber of the Kirk Session and its M(Kl¢r2tor, is ¢l¢d¢d by th¢ wngregation and indu¢*d by Presbytery. Kirk Session members are the Elders of th¢ Chur¢l4 a spiritual functi¢)n, aTMI are chosen from those members of the chUh who are wnsidered to have the appropria gifis and ski115. Th¢ Congregational Board compris¢s Elders and Member5 appointed from within the congregation. members of the ¢on8r¢gation ar¢ invit¢d to nominat¢ individuals who are b¢li¢v¢d to hav¢ the skills and commitment to contribute to the manag¢rnenl affairs of the ChUh io be¢¢)me members of the Board. These Members are then app)inied at the sted Annual Meeting and serve fora peri(xl of ihree years after which ty musr seek re<lection at the nexi Statrd Amiual Meetin The Congregational Board is cutTently chaired by the ministrr and meets for regular bllsin six times in a year. Certain responsibilities are delegated to the Finance Committee and Propffj Management Committee as appropriatr. The Kirk Session, which also meets regul]y, chaired by the Moderator. is respK)nsible for spiritual affairs within the Church and oversight of ass¢xiated projects and matters of a spiriiual nabjre. Bothcongregationai Board 4nd KI Session may be ¢alled to attend $pe¢ial meetings to deal with urgeni matters as r¢quir¢d rchbold
Dundet: Meadowside St Paul'$ Church of Scotland Trustees, Annual Report (¢onL) Year ended 31 December 2021 Reference and Admfinistrative Inforniation Trustees: Kirk Session Kirk Session (conL) Congreg8tioDal Brd 'see p. 3 aboY¢ Principal Office-bearers: Minister.. Session Clerk.. Chaimian of the Congregational Board.. Clerk ¢0 the Congregational Board. Church Treasurer: Printipal Addr¢s5: The Chuich Oflic Dundee.. Meadowside St Paul's 114- 116 Nethergate tAdee DDI 4EH Charity Regi5tratioD Numb¢r: SC013162 Congreg•¢lon R¢fer¢tt¢¢ No: 291769 Independent Examiner: MMG Archbold Ltd Chapelshade Hoe 78- 84 Bell Streei Dundee DDI IRQ Bankers: Bank of Scotlartd 291 clepinOrt Road Dundee DD3 8BD rchbold
Dundee: Meadowside St Paul's Chureh of Seotland Trustees, Annual Report (¢onL) Year ended 31 December 2021 Trustees, Responsibilities in Relation to the Financial Statements The charity trustees are reswnsible forpreparing atrustees. annual ieport and financial statements in accordance with applieable law and Unitrd Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practi¢e). Law applicable to chariiies in S¢otiand requires the Iruses to prepaTe finan¢ial statements ¢g¢h year whi¢h show a true and fair view ofthe slate of affahrs ofth¢ charity and ofth¢ in¢oming r¢50ur¢tsand appli¢ion of r¢sourc¢5. of th¢ ¢harity forthat period. In preparing the fan¢la1 5trtern¢n th¢ trusttrs ar¢ required io: sel¢¢t suilable accounting FKTrli¢i¢s and then apply them ci)nsiStently. ob5¢rYe the methods and principles in the tharity SOR. make judgrnellts and estimates that aTe reasonknle and ptudent" state whether applicable accounting stsndards and staternts of rttommended prdCtic¢ have been followed. subje¢¢ to any deparnires disclosed explained in the accounts" and prepare the fmaftcial statements on thegoingcTrKern iwis unletss it is inapprwiat¢ to We¢that the tharity will Continue its activities. The trnstees are resp)nsible for keeping accounting reeord8 which disclose with reasonable acmcy at any tim¢ the financial position ofthe charity and to enable them to ensur¢ thatthe finan¢ialsMements ¢omply with the Charitie5 and Trustee Investment {Scotland) Act 2005, the Chariti¢5 Accounts (Scotland) Rwlati(s 2 las amended) a1 the Deed of Constitution. They are also responsible for saf¢guardÈng the assets of the ¢h¥rity and hel for taking reasonthle steps for the prevention and detection of fraud and other irregulariti&s. Approved by th¢ Twst¢4s on 29 Mar¢h 222 and Si)ed on their behalf by S$1•11 Clerk urchbold
Dund¢e: Mcadowside St Paul's Church of Scotland Seottish Cbarity No: SC013162 Report of the Independent Examiner I report on the financial statem¢nts of Durtdee: M¢adow$ide St Paul's Church of Scotland for the year ended 31 December 2021 as set out on pages 10- 20. Respective responsiblllties oftrustee5 aDd Independent examlner The charity's trnstees are responsible forthe preparation of the attots in accordance with the tenns ofthe Chariti¢s and Trust¢¢ Investment (ScotlatKI) Act 2005 and the Charities A¢£Trts (Scotland) liegulations 2006 (as amended). The ¢harity's trust¢¢s consider that the audit requirement of Regulation IiKIKa) to {c) of the Accounts Regulations does not apply. It IS my responsibility to examine ihe accounts as required underseaion 44IIMc) of the Act and to stale whether parti¢ular matt¢T5 have come to my attention. Bg9i$ of iTrdep¢nd¢nt examiner'5 5tatsm¢nt My examination is caled out in a¢¢ordanc¢ with Regulation I l of th¢ Charities Acwunts (S¢otland) Regulations 2006 (as amended). An examination in¢lud¢s a mi¢w of the accountillg records kept by th¢ charity and a comparison of the accounts prnted with those rewrds. It also in¢lude5 wnsideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees Concerning any such matters. The pn)cedures undertaken do not provide all the evidence that would be required in an audit an ¢onsequently. I do not expTess an audit opinion on the view given by the COUnts. Independell¢ examin¢r's statement In the Gour5e of rny examination. no matter has come to my aitention= l. which give5 me reasonable cause to believe tha( in any matertal Tespect, the requ1ments.. to keep accwn¢ing records in accordance with Section 44(IXa) of the 2tK15 Act and Regulation 4 of the 2006 AcwuTrts Regulations, and to prepare aecounts which ¥eord with the accounting re¢ords and comply with Regulation 8 of the 2006 Accounts Regulations have nix been met, or to which. in my OPinLOII, Attenlion should be in to enable 8 prop¢rUtthrdlng of the accounts to be reached. MMG Archbold Ltd Chapelshade House 78- 84 Bell Street Dundee DDI IRQ 29 March 2022 ni urchbold
Dundee: Meadowside St Paul's Church of Scotland Statement of Fillancfial Aetlvltie8 Ye&r ended 31 December 2021 Unrestricted Restrlcted Endowment Funds Futtds Fund$ 2021 2021 2021 Unre$tricted Restricted Endowment Funds Funds Funds 2020 2020 2020 Total 2021 Totgl 2020 No¢¢ Ineomt and tndowmertts from: Donations and lewi¢s Charitsble activtties Other trading activities Investments Oth¢r- dilapidotion iKcome Other- Iransferfrom General Trustees 42,421 425 (5.001) 2.428 14.500 42.421 425 (5.001) 17.783 14,51)0 30,060 414 21,794 2.937 30,060 414 21.794 17.201 15.355 14.264 Totsl Income 77 FiJpendltur¢ on: Eiaising funds Charitable artivities 129 129 258 258 Tot*l expendlture N¢t {eXpendItr6)I Ineome before 18lns and losw on Investments (7.641) 14,571 6,930 (7,01)8) 13,265 257 Net (lossesy gains on investments Net (expendltsrey Ineome (9,029) J4,S71 44,409 49,951 (S,741) 13,265 81,916 89,440 Transfers between ndS 100,720 (100,720) Net movement In funds 91,69] {86,149) 44,409 49,9SI (5,741) 13,265 81,916 89,440 ReeoTrcllixtlon of funds: Total funds brought forward Total fLU)ds caLed forward 207511 139092 641580 1049 652 13. 299 776 767 905 208 085 207511 723 496 1 139092 The note$ on pages 12-20 fom) part of these accounts. io
Dundee: Meadowside St Paul's Church of Seotland Balgnce Sheet as at 31 December 2021 urestrIrted Restrkted Endowment Fund$ Funds Funds 2021 2021 2021 Prior Year 202LI FuDds 2021 Nots Fixed Assets: Tallgible assets Investments 100.720 100,720 100,720 800 20 767 905 767 905 176 037 943 942 Current As$ets: Debtors C&sh at bank and in band 10 10 4235 7.299 239 101 18.752 223 121 Total current *55ets 125 038 Current Liabilities: Falling due within one year Net Current Assets 121 240 671 Creditor$: Falling due after more than ctt year Net A$set$ 299 776 121 767.9115 1189 043 1 139 092 Fun(ts of the ¢harity: Unrestri¢ted Funds General Funds Designated Funds 13 13 107,627 114,099 299,776 208,085 Restricted Funds 13 121J62 207.511 Endowmeni Funds 13 To¢al Charity Funds 1 189 043 1 139 092 The Accounts were approved by the Trjstres on 29 March 2022 and signed on their behalf by.. Session CleTk Treasurer The notes pages 12- 20 forni part of tht acccrtm arckbold
Dundee: Meadowside St Paul's Chureh of ScotlaDd Notes forniing part of the financial statements For the year ended 31 December 2021 Aecounllllg Policies The following accounting policies have been applied consistentty IA the current and preceding year in dealing with item$ which are Consider matertal in relation to the charity's accounts. Basi5 of preparation The accounts have been prepared itt aC¢onjan with A¢¢ountiAg and Reportrng by Chariti¢s: Statement of Recommended Practice applicable io charities preparing their a¢¢ounts in acwrdan¢¢ with th¢ Financial Reporting.Stsndard5 applicable in the UK and Republic of Ir¢land (FRS102) ¢ff¢otiv¢ l January 2019 and th¢ Financial Rewrting Standard applicable in the UK and Republic of Ireland {FRS102). the Charities and Tru#¢¢ Investsn¢n¢ (Scotland) Art 2(M)5 and the Charities AOUnts (Scotland) Regulations 2006 (as amended). Fund aeeountiDg Funds ar¢ classified either rrstrICt endowment or funds, defined as foll4)ws: Restricledfynds are funds subject to specific requirements as io their use. which may be declared by the donor or with their authority or created through kgal Proc& still within the wider objects of the eharity. EndowpKen¢ fv(b are fun(ts given on the corxlition the original capitsl sum is not reduced. bui that the ineome therefrom is used for the purpose defmed in accordance with the objects of the charity. Unres¢rictedfynd¥ are expendable at the discretion of the ttustees fitrth¢r of th¢ objects of the ¢harity. If parts of the unrestyicted funds are eamiarked at the discretion of the truste¢s for a porti¢ular PUTpose. th¢y &r¢ d¢signat¢d as a separate fund. This designaiion an thinistrativ¢ pwptsse only ond does not l¢gally r¢stri¢t th¢ tTUSt¢es' discretion to apply the fun Incoming resomrees Income is recognised when the tharity has the ¢nii¢kment to funds. Y F¢rfoTnwice condition5 attached to the item of income has been meL it is probable that the income will be re¢eived and the can be measured reliably. Donations. are recognised when the Chur¢h Iw been notified in writing of both the amount and settlement date. In the event Ihat a donation is subjeci to conditions that require a l¢vel of rfOnancc before the charity is entitled to the nds, the incom¢ is deferred and recognised until either those ¢onditions ar¢ ful]y rneL or the fulfilment of those conditions is 'hOllY within the control of the ¢lwity and it 1$ probable that those ci)nditions will be fulfilled in the reporting period. Legacy gilts or¢ recognised on a case by case basis following COnfimtIon when the thinistrator/ex¢¢utor for the esme has Communicated in writing iyxh the amount aThl settlemeni date. In the event that the gift is in the forni of an a&set other than cash or & finaneial assettraded on aregnISed stock exchangA recognition is subject the value of the gift being reliably measurdble with a degree of reasonable accvracy and the titk to the asset having been transferred to the ¢harity. Interest on funds held on deF4)Sit is included when receivable and the amount CJ) be mwurtd reliably by the ¢h4rity" Ihis is --nom7ally upl llOtificatioTr of the lnterest.paid-payabl6ty.the b*)k. Dividends are recogThised once the dividend I been declared attd notification beth Te¢eived of the dividd due. Resources Expended Liabiliti¢s ar¢ r¢cognised as expendiiure as SO as thEre 15 a le1 or C(KctIve obligation committing the chlty to that expendi¢ur¢, it is probable that settlement will be required and the amount of the obligation cam be measured reliably. All expendiiure is a¢¢ounted for on an accruals b]5. Fixed assets The ¢twity has the right to occupy and use for its clMTitable objects certain tangible fjxed a&8ets. including the Church hall building and garden, vested in the Church of Scotland General TDJStees. The title of the chureh building is held locally attd tto valuation is available. No considerdtion is payable for the use of these assets. Expenditure in¢urd on the repAir 2nd maint¢nan¢e of these assets is charged as resources expended in the statanent of fnan¢ial activiti¢s in the p¢riod in whi¢h the liability arises. Meadowside St Paul's ontrthird Int¢$1 in th¢ Manse t¥rch&8ed wÉth Dundee: St Andrew's and vested l(Kally is included in the accounts as a Tangible Fixed As. 12 archbold
Dundee: Meadowside St Paul's Chureh of Seotland Notes forming part of the financial statements (conL) For the year ended 31 December 2021 Accounting Policie8 (cont.) Investments Fixed asset investrn¢nts ar¢ ststed at fft#rk¢t value at the ance sheet date. Unrealised gains and losses represent the difference between the Mark value at th¢ b¢ginning a1 end of the financial year or. if purch&sed in the year, the difference between co and markd value at the end of the year. Realised gains and lo&w represent the difference between the proceeds on disposal aftd the market valu¢ at the start of the year or cost if PWched in the year. TaxAtio Dundee: M¢adowside St Paul's Church of Scotland is recognised as a charity for the WryK)ses of appli¢able taxation legislation and is not, therefo subje¢t to taxation on its tsitabl¢ adivities. Th¢ charity ts notregi5tered for VAT and resources expended therefore include irre¢ov¢rable Inp VAT. 13 archbold
Dund¢e: Meadowside St Paul's Church lof ScotlAnd IYot¢s forming part of the financial stal For the yeAr ended 31 Deeember 2021 meDts (eont.) Unrestricted Restricted Endowment Funds Funds Funds 2021 2021 2U21 Unrestricted Restricted Endowment Fund5 Funds Funds 2020 2020 2020 Total 2U21 Tot41 2020 Donatlon$ And Legaeleg Offerings Tax r¢¢overed on Gift Aid Legacies Oth¢r 24,954 4,656 11,641 24.954 4,656 11.641 23,671 5.851 23,671 5,851 2. Income from eh*rltable Jctlvhle$ Weddings and nerAlS Coff¢¢ moming$ 425 425 220 220 414 3. Income frorn other trndln% actlvltles Rents received Invesiment Ineome Dividends received 428 93 14
Dundee: Meadowside St P8ul*s Church of Seotland Notes forming pgrt of tbe finaneial statements (conL) For the year ended 31 Deeember 2021 Unr¢strld¢d Restrlet¢d Funds Fund$ 2021 2021 Endowm¢nt Fund$ 2021 Unrestrleted Restrlcted Endowtncnt Fund$ Funds Funds 2020 2020 2020 Tot81 2021 Totsl 2020 S. Analysls of ¢xpendllure RalgIndS Offering envelopes Charliable Acilvlil Ministrie$ and Mission alloclOtt Pulpit supply Other salary ¢osts Pre$bytery dues Fabric repair5 & maintenan¢e Other building costs Council t&x Church office ¢xp¢n$es Heat, 118hr & w8ier Insuran¢¢ Oiher expenses Independeni Examiner's fee Professional Fees 25,737 200 6,099 1,095 6,178 4,848 1,040 648 4,989 7,753 .490 2,208 25.737 200 6.099 1.095 6,178 4,848 1,040 648 4,989 7,753 2.274 2.208 28,036 1.321 8.488 28,036 1.321 8.488 6.069 4.868 387 1,375 3,686 6,838 2,639 2.196 6,069 4,868 387 1,375 3,686 6,838 3,638 2,196 784 999 Support costs have not been separately identified as the tNstees consider there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified. 15
Dundee: Meadowside St Paul's Chureh of Seodand Notes forniing part of the fancial Statements (¢onl.) For the year ended 31 Deeember 2021 Staff costs and ftwmbers 2021 2020 Salari¢s and wag Social security costs 6,099 8,488 The average numb¢r of employees during th¢ year was &$ follows: Number Number Church Offittr SecretarylAs$istant Tru[¢r Organisi No employee has employee benefits in excess of £50,( (2020-Nil). All Church of ScoilaThd Congregations contribute to the Nati(ml Slip¢nd Fwid whi¢h bears the ¢08t of all ministers, stip¢nd5 and employer'5 contributions for national insurnnce, pension and housing and 102n nd. Minist¢rs' 51ipend5 are paid in accordance with the national stipend le. which is ftlated to years of 5¢rvice. For the year under review the rninimum stipend was £28.71 and the maximurn stilmd (in th¢ fifth and subsequent years) £35,269. 7. Trustee RemuneratioD and Related Party TransaetioDs DuriAg the year, ministerial reitnbursem¢nts of expen including trdvel. totalling £Nil (2020- £Nil) were paid. During the year a total of £15,816 Q020- £15240) w&$ donatedto the ¢ongrewion by kn¢¢5. No trustee or a person related to a trustee had any interest in any conlTrct ortrnnsaction entered into by the charity during the y¢ar. 8. Tangible Fixed As$ets Freehold Property Valuation As Èt 31 December 221 100720 A¢eumulated depr¢ciation At 31 December 2021 Net Book Value At 31 December 202I 100720 At 31 December 2020 100 720 16 orchbold
Dundee: Meadowside St Paul's Church of Scotland Notes forming part of the financial statements (¢onL) For the yeAr ended 31 December 2021 & Freehold Prop¢rty {¢ofjL) 2020 ¢ompargtives Valuation At 31 December 2tr20 Aceumulated depreeiatio At 31 December 2020 Net Book Value At 31 tk¢ember2020 72 Ai 31 tkc¢mb¢r 2019 Tangible FIX As5¢ts in the prior year were £l(X),720. all of whicb was UnreStrTrCt. 9. IDvestments 2021 2020 Market value at l January 2021 Unrealised gain investtnen$ Market value at 31 December 2021 S.201 717.018 Investments at cost 136451 136 451 The following inv¢s¢m¢nts in excess of 5% of the portfolio value are held: 10,448 60,000 27,145 26,971 The Churth of Sand LnvestOTS Trust Incom¢ Fund Alliance PLC tned1 Income Growth Investors Trust PLC Allianz Global Investors £130.391 £553200 £87.651 £52.684 Mftrket value of investsnents irA the prior year was £800201 of which £76.705 was unrestri¢d and £723,496 was held in endowment funds. 10. C¥rreDt Assets 2021 2020 Debtors In¢ome tax recoverable Other debtors 1,165 1,712 17 Debtors in the wior year were £18.752. of which £14J17 was unrestricted and £4235 w&s resirieted. Cash at Bank Cash * bank and Ati lthftd in prior yearwas £223.686 of whith £121.019 was unrestricted and £102,667 was restri¢d. 11. Creditors 202] 2020 Amollnts falling due within one year Aceruals 767 Amounts falling due in thore ¢h•tt otte yr Rent deposit Creditors iti the prioryear were £4.267. of whidj £4.156 was UnStricted and £1 I I w&8 restric. 17 orchbold
Dundee: Meadowside St Paul's Chureh of Seotland Notes forniing part of the financial statements (CODL) For the year ended 31 Deeember 2021 12. Analysis of Net A55ets funds UMrtStri Unrestricted General Dtsigttated Restrieted Endowment Totsl Fixed Assets Current Ass¢ts Cutrent Liabilities Cr¢ditors falling thi¢ Jft¢r mor¢ thaT[(¢ year 17.297 91.629 {1299) 158,740 33.409 767,905 943,942 246,400 (1299) 121,362 121362 767 905 1189 043 2020 Comparatives Fixed Assets Current Assets Current Liabilities Creditors falling due aftermore than one year 17.616 I.639 {1,656) 59,089 34,897 100,720 lo6.2 (iii) T23,496 900,921 242,438 11.767) 207511 72 13. Movements in Funds RlIse{lI Unrealised At31 Invfstrn¢nt December GaTnl(L05s) 2021 Atl January I¢•1£ Outgoing 2021 Rowurets Resour¢es Transfer5 Endowment Fund$ James Arthur Fund- Capitsl 723 496 723 496 409 Restrieted Futtd$ James Arthur Fund- Rev¢rtue Legacy for the Deprived Chil(treD of the Sunday Club Spire Repair Fund Maftse Fund Mu$1¢ D¢velopmertt Fund 93,329 15,346 (784} 107.891 9.425 1327 I.720 9,434 2,327 (l(K),720) 121362 UDrestri¢ted Funds Gen¢rni Fund 114,(V)9 51.799 {57.952) (319) 107,627 "Unrulricted Design¥4tA Funds Fabric Fund Guild Account Dorcas Society Account Special Provision Fund Development Fund General Benevolent Fund Manse Fund Sunday Club Resour¢¢$ Fund L & J Weath¢rheAd Fund Youih Organisations Fund Flow¢r Fund Totsl Unrestricted Funds 94 122 21,092 46,592 4,306 2,255 100,720 183 15,275 372 221 21.092 47.796 3,300 1255 36 (135) 1.131 {1.6> (648) 100,720 183 16,964 919 736 (1004} (547) 89 414 {421) 65 208 085 Total Funds 1139 092 3021 1189 18 n? archbold
Dunde¢: Meadowside St Paul's Church of Seotland Notes forniing part of the finaneial statements {conL) For the year ended 31 Deeember 2020 13. Moyemellts ID Fund5 (¢oThL) Realiqedl Unrealised At31 Investment Detembtr Gainl(L(ws} 2020 2020 ¢omparativfs Jaouary 2020 Incoming Outgoing Re50urees Resourees Transfers Endowment Funds James Arthur Fund- Capital 916 723 496 723 496 Restricted FuDd$ James Arthur Fund- R¢venu¢ L¢ga¢y for th¢ tkpriv¢d Children of the Sunday Club Spire Repair Fund Manse Fund Music tkyelopment Fund 80.121 14207 (999) 93.329 9,368 2,327 l(M).720 57 9,425 2,327 100.72 14 999 20 Uurestricted Funits General Fund 117J76 57.956 (61,524) 291 114,099 Unrestricted Designated Funds Fabric Fund Guild Account Dorcas Sociw Ae¢(wnt Special Provision Fund Development Fulld General Benevolent Fund Sunday Club R¢souros FWKI L & J Weatherh¢ad FurKI Youth Organisation5 Fund Flower Fund Totsl Ullr¢stri¢t¢d Fu4ds 94 221 21,092 47,796 3,300 2255 183 16,964 919 293 21,092 48.929 3JOO 2254 183 17.374 168 (240) lJ65 (3.090) 592 908 (1.702) (945) 280 384 213 826 Tol*l FllDds 75 19 Ychbold
Dundee: Meadowside St PAUI'S Church of Scotland Notes forniing part of the financial statements (eont.) For the year ended 31 December 2021 13. Movements in Funds (CODt.) Purposes of Endowment Fllnds Arthmr Fund.. legacies investrd to provide in¢ome to be used io meet th¢ needs of peopl¢ within vorious ¢ategories who may be regarded as in poorer¢ir¢umstsnces due to th¢ircurrertt fmaneTa], so¢iai, tthysi¢#l or mental ¢hall¢nges" we have a heart to the b¢n¢fit of members, adherents and those a$Slated with congregational life who may be challenged by their need. Purp05e5 of Restrict Fund5 Jqme5 Arthur Fund.. TrdS to be used to meet the needs of people within vartous categories who may be regarded Ls in poorer ¢ircumstan¢es due to their cutrent financial, wcial, physical or mental challenge4 we have a heart to ihe benefit of member adherents and those associated with congregational life who may be challenged by their need. Legacyfor the depflved chlldren of the Sunday Club.. funds to be used to aid chAldren ¢4)nt with our chureh in ways that would be spiritually or practically helpful to them. Spire Repdlr Fund.. funds to be used Éo meet the of ¢m¢rgen¢y and major repaiTS to the Spire and roofs of the Chuwh building complex. Music Developn*¢ni Fund.. funds io be used to rnis¢ the of musi¢ in the ¢hur¢h lif¢ of Meadowside St Paul'5 and in Dundee ¢ity centr¢. including WOTk with the hom¢le Pwrposes of Designated FuDds Fabric Fund: used for th¢ Intenan repair of the Conrnlffl prowties. but MO fabric expenditure is met from the General FurKI. GuildAccounl'. used to supwjrt Church and Guild Projects. Dorcqs Socidy Account." Used to Sup Dorca5 Society proiecty including the provision of handcrafted Cloth for disadvantsged ¢hildreD at hom¢ and abroad. Spe¢i&l Provision Fund: used io meet any extraordinary expense. Develophwnt Fund.. used, in the first instance. to aid congregational development through mi&sion and outreach. Manse Fund.. used provide a residence for the minister of the Congregation- in 2019 funds for this purpose wer¢ released from the General TNstees' Consolidated Fabric FuThJ for the purchase of aioint manse with Dundee.. St Andrew's. GenernlBenevolent Fund." used to help the needy and associat•J worthy cause Sthnday Club ResoNrcu Fund.. used to resou¢ the Sunday Club. L & J Weuiherheod Fund.. used for church purposes that benefit the life and servi¢¢ of the Congregation. Youih Orgttntsallons Fund.. used. in the fwst talKe. to resource the youth wisations a$so¢ia with th¢ congrtion and that are of benefit io the parish. Flower Fun&. use¢ in the first instance. to provide flowers for th¢ san¢tsLary and for distribution to the sirk, hou5¢bound, bereaved. etc. It may also be used fw the servicing of atticles ¢Mne¢ted with the santhwy. 14. Volunteers In Common witb #ll congregations of the Churdj of Scotland the congregation benefits from the Contribution made by volunteera who give their time and talents willingly for the benefit of the ChuTch. The areas of congregational life which rely on ihe contriblltion% of volunteers are many and Vari and mu¢h of the artivity would not be able to continue were it not for ihe eomrniknent shown. 15. Collections Cor Third Parties 2021 2020 The following income from Special Collections was w¢ived and disbutsed durtng the year. Christian Aid 20 archbold
Dundee: Meadowside St Paul's Church of SeotlaDd Appendix l - Funds held on behalf of the eongregation by the Church of stIalld General Trustees 2021 2020 Consolld¥t¢d F¥brf¢ Fund Balance at 31 De¢¢mber 2020 Pri>p¢rty f05ts Credit balanc¢ at 31 DeCeber 2021 65.938 71,506 Revenue Account Balance at 31 December 2020 Interest received Credit balanc£ at 31 December 2021 3.128 74 2,626 502 21 archbold