HOLBURN WEST CHURCH OF SCOTLAND ABERDEEN (Congregation No:311852) ACCRUED CONGREGATIONAL ACCOUNTS FOR YEAR ENDING 31" DECEMBER 2022 (Scottish Charity No: SC013318)
Holburn West Church. Aberdeen Trustees. Report Year ènded 31 December 2022 The trustees present their annual report and financial statements of the charity for the year ended 31 December 2022.The financial statements have been prepared in accordance with the accounting policies set out itl note I to the accounts and comply with the General Assembly Regulations for Congregational Finance, the Chartties and Trustee Investment Iscotlandl Act 2005, the Charities Accounts Iscotlandl Regulations 21J06 las amended) and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparsng their accounts in accordance with the Financial ReportiTrg Standard applicable in the U K and Republic of Ireland published on 16 July 2014. Objectives and Artivities The Church of Scotland is Trinitarian in doctrine, Reformed in tradition and Presbyterian in polity. It exists to glorify God and to work for the advancement of Christ's Kingdom throughout the world. As a national Church, it acknowledges a distinctive call and duty to bring the ordinances of religion to the people sn every parish of Scotland through a territorial ministry. It Co-operates Wlth othÈr Churche5 in vartOU5 ecumenical bodies in Scotland and beyond. Holburn West aims to be an open and welcomit)g church holding services at 10.30 am and 6.10 pm on Sundays. There 15 3 Junior Church every Sunday and StdY Group5 meet from time to time. During the week a wide range of congregational and community organi53tlOns meet in the Church premi5e5 e.g. uniformed, musical,exercise and educational group5. Tuesdays host an open coffee morning. All households in the parish are kept Ènformed of Church services together with other events through the distribution of a leaflet called -Grapevine" Regular pdateS and news about the church are provided on the church website. Achievernents and Performance Whilst membership declined sli8htly, Holburn West Church remained an active place of worship and service.The buildings and tennis court had a high level of Ltse by both the congregation and community including for instance Guiding, Dancin& Performing and Choral groups. Holburn West Church is served well by the Minister. a dedicated team of active elder5 and paid en7ployees working together for the ministry of the congregation and offering a central basis for community groups. Over the last year the church has supported other charities both locally and intern3tioTially through special donations at services or fund raising activities for Instant Neighbour donations and Christian Aid. A significant change in direction of the church began in March 2022 with the Kirk Session and Con8regational approval of the plan from Aberdeen Presbytery Plannlng and DeployTnent Committee restructuring of churches. This included plans to close Holburn West Church buildinE a5 a place of worship and for Holburn West to unite by the end of December 2023 with Midstocket, Rubislaw and Queen's Cross Chu¥ches to form a new church which will be known a5 Fountainhall Church. This will bring new challenges as well as new opportunities for the congregation, the buildings of Holbijrn West Church and the communities associated with it. Page I
Trustee¥ Report {tonti Year ended 31 December 2022 Financial Review The last 12 months were the first complete 12 month5 when life was beginning to return to something you may have called normal after the Covid 19 outbreak .With the Presbytery Mission Plan of the Presbytery of Aberdeen and ShÈtland,Inow subsumed into the Presbytery of the North East and Northern Isles) being implemènted,the congregation of Holburn West will be uniting with the congregations of Midstocket,Rubislaw and Queen'5 Cross,to form the united charge of Fountainhall Church from the l%t June 2023. The Holburn West building will cease to be a Church of Scotland place of worship from 1st June 2023.The Holburn West suite of buildings will remain under the ownership of the Church of Scotland until an agreeable transartion involving the purchasing of the property is made.These chariges have had the impact of decreasing regular attendance at worship and also reducing the income of the congregation. INCOME: Once aRain we have been the beneficiary of a further leRacv from the estate of the Late to the tune of £89,531. We have also benefited from an anonymous donation amounting to £5,000. The recovery of Income Tax has dropped as members numbers drop but has been maintained at just bèlow the £10,000 mark. One positive note is with the reopening of the church buildings we have been able to welcome back many groups and this has brought in a total of £47,547 EXPENDITURE: Our larEest expenditure as always is the contribution we pay to the Church of Scotland under the heading Ministries and Mission which 15 based on the church's income ingathered in previous year5. Unfortunately with a drop in members number5 and therefore a reduction in the church's income we have had less règular income to cover these costs. We have always managed to fulfill our commTrtments in support of the Church of Scotland but only by having to utilise some of our Funds. The second most costly out going is heating and lighting of the suite of buildings and as I said with the halls etc being utili5ed rnore and more the cost has risen and now stands at £19,444 Mèintaining the buildings in a safe.wind and watertight condition is still essential and a very dedicated team of men have just done that not only thi5 year but many years past. Although the figure of £18,765 looks high it includes an amount of £4.817 whith related to work carried out pre 2022. As with the increased usage of the building the cleaning costs have a150 risen and show for 2022 an increase to £5,616. The costs of the upgrade works carried out on the various toilets viz £14.108 has been covered thanks to Bettys Building Projerts Fund. STATEMETrif OF RISK MANAGEMENT: In summing up we have again failed to produce a surplus and have had to transfer sums from the Special Projetts Fund £3,6481 which is now closed l and from the Legacies Fund £28,(KKI. This is the final set of Accounts covering a 12 month period in the name of Holburn West Church. The remaining months income and expenditurè will be recorded and combined with like figures from the other three churchs In the and incorporated under the new united church namely nt Page 2
Holburn West Churth. Aberdeen Tru5tees' Report Icontl Year ended 31 December 2022 Reserves Policy The charty trustee5 have considered the rerVeS required and have taken intc account their current and future Iiabilitie5. It the Tru5tees' policy io hold reserves of approximately Six Tnonth5 expenditure including desi8nated funds. At theye3r end the Church held Unrestricted Funds totalling E914,245 The Church abo held £15,680 of Restrirted Funds which hève been provided forthe PUTP05e5 specified in Note 16 Structure. Governance and Mafiagement The conEreÈation is è re8i5tered charity. number SC013318 and is administered in 8ccord3ntr with the Unltary Constitution subject to the Act5 and Regulations of Ihe Genera1 Assembly of rhe Church of Scotland. Member5 of the Kirk Se55ion are the charity trustees. The Kirk Session members are the elders of ihe church and are chosen from those mefflbers of the church who are considered to have the appropriate gifts and skills. The minister, who Is a member of the Kirk Session, is elected by the congregation and inducied by Presbytery. The Kirk Sps5i0n which meets sixtime5 a ye3r has oversiRhr ofall matters both spiritual and oractitèl. Reference and Admlnlstrativè Information Trustees Kirk Session: The following mernlJer5 of the con8re8ation served durlng theyear. Page 3
Holburn West Church, Aberdeen Trustees. Reportlcontl Year ended 31 December 2022 Prlncipal OfficÈ-bearefS Charity No.. SC013318 Independent Examiner.. nkers.. Vlrgin Money l Queens Cross Aberdeen AB15 4XU Trustees, Responsibilities in Relation to the Finanaal Statemet)ts The charity trustees are responsible for prÈparinÉ 3 trustees, annual report and financial statements in accordance with applicable law and United Kingdom AccountSnÈ Standarth (United Kin8dom Generally Accepted Accounting Practice l. The law applicable to tharities in Scotland require5 the charity trsleeS to prepare financial statements for each year which show 3 true and fair view of the state of affairs of the ch3rity and of the incoming resources and application of resources, ofthecharity forthat period. In preparin8the finanaal Statements, thetrustees are requlred to.. selett suitable accounting policie5 and then appty them consistently,. observe the method principles in the applicable Charities SORP.. makejudgments and estimatÈ5that are rea50n2ble and prudent- state whether applicable accounting standards and 5tatetnent5 of iecornmended practice have been followed, subjert to any dep3rture5 disdosed and explained in thefinanaal statements.. prepare the finanoal stBtements on the going conwn basis unless rc is inappropfiate to presume that the charity W11 The trustees are respDn51ble for keeping proper accountinE records which d15cIDse with reasonable accuracy at 3ny tlme the financial position of the charity and io enable them to ensure that the financial statements comply with the Charities and Tru5tep Investment15cotlandl Act 2005 and the Charitie5 Account51Scotlandl Regulations 2(K16 las amended). Thev are a150 re5POT154ble for safeguarding the assets of the charity and hence for taking reasonable steps for the preveniion and detectiDn of fraud and other irreAulariries. The trusiees are responsible for the maintenance and Integrlty of the charity financial inforrnation on the congregation's website. Legislatio in thp United Kingdom governing the preparation and dissemination of financial 5tatefflents fllaydiffw from legsdatitsn in otherjuri5diction5. Approved by the Trustees and sTrgneil on their behalf. (Co Session Clèrk) Datè: Pa8e4 2010212023
Holbum West Church. AberdÈen Independent Examinerfs Report to the Trustees of Holburn West Churth Aberdeen Year ended 31 December 2022 I report on theatrounts of the charityforthe ye?r ended 3IDeMber 2022 which are setouton page$6 to 14. Respective responsibilities of trustees and examlner The charity's trustee5 are responsible for the preparation of the accounts In a¢¢ordance with the terms of the Chariti and Trustee Investment1S¢otlandl Act 2005 and the Charities Accounts15cotlandl Regulation5 2006 la5 amended). The charity t[Stee5 consider thar the aJdit requirement of Re8uIBtion 10111 lal to Icl of the Accounts Re8ulation5 doe5 not appEy. It 15 my responsibility to examine the 3c£ounts as requlred under settion 44111 (¢1 of the Att and to sta whether particular matters have come to tny attentioa. Basts of independent examlnerfs statement My examination 15 carried out in accordantrwlth Regulation 11 of the Charitie5 ACunt5 (Scotlandl Regulation5 2(K)6 la5 arnendedl. An examination include5 a remew of the accouniing records kept by Ihe tharity a cotnpar15o of the accounts presented with Ihose records. It a150 indudes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees con¢erninE any such matter5. The procedure5 undertaken do not provide all the evidence that would be required in an audkt. and consequently I do not express an audit opinion On the ew Riven bvthe accounts. Independent examlnerfs statement In the IDuf5e of rny examination, no matter has come to my attention l. which gives me reasonable cause to believethat in any material respeu the requirements, to keep attountiDg rEcord5 in accordance with 5ertion 4411) lal of the 2CI)5 Art and Regulatlon 4 of the 2006 Accounts Re8u13tions las amended). and to prepare accounts which accord with the accounting records and cotnply with Re8ulation 8 of the 2006 Accounts Re8ulation% las amended) have not been met, or 2 to wphich, in my opinlon. 2tt?ntithn %hould bp drawn iTTr order to enable a proper understsndlnB of the accounts to be Date: Page 5
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HOLBURN WEST CHURCH. ABERDEEN BALANCE SHEET A8 At 31 December 2022 FUNDS UnYe5tricted Restricted Endowmw TOTAL 2022 TOTAL 2021 FIXED ASSETS Tangible A55ets Investment5 Total Fixed Assets 418,000 15.120 433,120 418,000 15,120 433,120 418.000 16,912 434 912 CURRENT ASSETS Deblor5 Cash at Bank and in Hand Total Current Assets LiabilTrti08 Credrtors falling due thIn one year 12 Net Current Assets 8,356 520.033 528,389 13.721 467.567 481,288 16,464 12.426 511.925 468,882 Creditors falling due after rnore than one year NET ASSETS 903,774 The fvnds ofthe cha Endowment Funds RestrEd Income Funds Unfe8tricted Income Funds 15.120 15.680 914.245 16,912 30,490 856,372 TOTAL CHARITY FUNDS 16 903,774 Th• Account5 w8re approved by the Trustees on 2010212023 and signed on their behalf by.. Page 7
Holbum West Churth. Aberdeerb Year ended 31 December 2022 AccountFng Policie5 The principal accounting policies. which have been applied consistently in the current and preIng year in dealinE with items which are considered material tothe accounts. are set out below. Basis of preparatlon The finanal staternents have been prepared in accordance wlth AccountinÉ and Reporting by Charities.. Staiement of Recorntnended Practi applicable to charities preparing their accounts in accordan with the Financial Reportlng Standards applicable in the UK and Repvblic of Ireland IFR51021 i55ued on 16 July 2014 and the Finanllal ReportlnB standard applicable in rhe IJK and Republic of Ireland IFRS1021,the Ch3ritie5 and Trustee Investment (Scotlandl Att 20DS 2nd the Charit1 3ccounts Iscotlandl RÈRulations 2006 las amerFdedl. Fund Accounting Funds areclassified as either Restricted funds, Endowment funds or Unrestrirted funds, defined asfollow5. Restrided Fund5 are funds subject to specific reouirements as to their use which may be declared by ihe donor oi wlth their authority or created thiough legal processes, but still within the widerobjects of the charity. Endowment Fund5 are funds which have been given on ihe conditicn that the original capital sum is not reduced. but the income there from is used forthe purpose defined In accordance with the objects of the charity. Unrestricted Fund5 are expendable at the disuetion of the trustees in furtherance of the object5 of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for 3 particu13r purpose. they are desiBnated as a separate fund. This designation has an èdmlnistrative purpose orily and does not legally resrrid the trustees. di5crÈtiGn to app the fund. Incoming resources Income Is recognised when the charity has entitlement to the funds, any perforrnènce conditions attached 10 rhe itemlsl ol Income have been met. it 15 probable that the income will be received an(5 the arllount can be measured reliable Donated services and facilÉties Denated professional se[vi and donated facSlÈties are Teco8nised 35 income when the charity has control over the itern, any conditions associared with the donated itern have been met. the retript of economit benefit from the use by the charity of the item is probable and that etonomic benefit can be measured lIablY. In accordance wtth the Charities SORP IFRS1021 thesee[al volunteer time of COnEregation tnember5 IS not recognised. On receipt. donated professional services and donated facilities are reco8ni5ed on the ba515 of the value of the glft to the charity which 15 the amount the charity would have been willin8 to pay to obtsin seNaces or faciiifies of eouivalent econornic benefit on the open market., a corresponding amount is then recogn&ed as expeditUre in the period of Interest recelvable Interesi on funds held un dep051t is induded when retrwable and the amount can be measured reliably by the charity,. this & nom)Blly upon notification of the interest paid or payable by the Bank. PaÈe 8
Holburn West Churth, Aberdeen Year ended 31 December 2022 Flxed assets The Charity has the rightto oteupy and usetor its chantable objects rtain tangible tixed asset5. The Church and Ha115 areve5ted in the name of local trustees and no valuation has been obtained. The Manse is vested in the name of Holburn West ChuTch and has been duly valued by the Trustees. No consideration is payablè fDrthe use of these a55ets. Expenditure iftcurred on rhe repair and maintenance of ihese atsets is charged è5 resourtesexpended in the st*emènt of financial activiti in the period in which the liability ar1. All tangible fixed aet$ ¢ostinE Sn excess of £l,OC(J having a value to the charity sreater than one year, other than those acquired for specific purposes, are Cèpitalised. Depreciètion would be provided un a 5traight-line basi5 to write off the 105t or initial value, less residual value, af tan&ble fixed a55et5 overtheir estirnated useful Iwe5, Freehold building5 Not Applicable Fixture5. fitting5 and Offi equipment - 4year5 Investments Fixed a55et investment5 are stated at market value at the balance Sheet date. Unrealised gains and losses reprent the difference between the ffl3rket value at the beginning and end of the finana31 year or, if purchased in rhe year, the difference between c05t and fflarket value at the end of the year. Realised galns and losses represent the difference between the proceeds on disposal and the market valueat the start of the yearorcost if purchased in the year. Taxation Holburn Wt Church is recognised as a charsty for the purposes of applicable taxation legislation and 15 therefore not subject t? taxation on Irs charitable artivities. The tharity 15 not re8lStered for VAT and resources expended therefore include irrecoverable input VAT. PaÈe9
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LBURN WEST CHURCH, ABERDEEN 4otes fomin art of the Financial Statements-year to 31 Decembei 2022 FUNDS 02 FU 6 Analysis of EAponditure Ch$rtsble Aclwthes- MiDislries &Missv)n AlktvJn Plesbary Dueg Minisierfs Expenses Pulprt Suppty Fabrt Repairs & bAaint Wanse ouncil Tax-Ktsnse FabrK Repairs & Maint ¢hurchlHa115 Heabng Lighting Costs-ChurcNH8lL8 BuikJing& In5uranc05 Church Office Exwses Wer5hip Junior Ctturch Exwses Youth Worker Shared Eypenses Purchase of Ws Fknwers Provided Pastoral Expenses Guild Proiects and Donabons CnIng Servtes ProvvJ8d Chureh Dom8stic C051$ Other Expenses 59,346 1,580 1,146 57.788 1.060 57,786 1,080 1,146 3,702 3,583 18,765 19,444 5,389 4,582 3.702 3,563 18,765 19,444 5,389 4,582 3.487 3.487 3,460 10,071 15,765 5,052 4,016 10.071 15.765 5.052 4.016 187 160 654 2.739 760 654 2,739 330 159 330 159 5,618 3.361 1,323 127,997 5,616 3.381 1.323 4.663 132,660 2.255 2,392 1.253 2,255 2,392 1,253 107,830 Support costs hayè not been separdtety Identif 8S the twstees ¢$jer the is onty Dne chantsble a¢bty TheFdfrJre support costs rel8te¥Jhollyto that actiwtyand have not been separatew klentified. 2022 2021 7 Staffing Costs ond Nwnbw8 S818rEs and Wages SLKial SecLJnty Costs 16.879 15,043 16.879 15.043 The aYaw8 numb8rOfOyes dunro theyearwa¥ 8$foYLMS". 2022 Nurnr 2021 Number Miniskiial supp)rt Adminlsiraiion Mu8lc staff PrèmL%es maeI No empbyee had empbytt bènÈfd8 in axc8$8 of £S0,0(N)12021-nll I Churcm of Scotland congregatn$ contribute to NationHJ Stipend Fund bich tears the costs of 1 rn1ll1slers'5tipends and employe¢s coniribuiK>ns lor nabonal insurance,pension 8nd houslw 8nd loan fund minle[S, stipends are paid In a¢cor08ncÈwth the national $trpwd stsle,vthi¢h Is reLed 10 years of Serve. Forlhe year under review thè minimum 5phd vras£28,700 and maximum stipend in the 5th atvj Subsequent years of service- £35.269 pa 11
HOLBURN WEST CHURCH, ABERDEEN ole8 fomiin art of the Finanaal Statements-year to 31 December 2022 B Trustse Romun¢r•1Th and Rolatsd Party Trnrb8a¢llorbb During the year 1 twstee recewed re1Mr$ement afewses incutred tolalling ,53 During the yeara thl of£23.258 Vds dLated lo thecre9atK)n by tNstees. 9 Tanglbltr Flxod A890ts Buildin Total A5 811 January2022 vluation 418.(A)O 416.000 DLsposal$ As al 31st December2022 418.000 418.000 The Ttuslees are of the oynion that the real value of the BuNdlngs.comwtsing the Manse and the Tennis Court. will be greater than the rU? shown In the fin8ncial statementand arwrdingly no dep18th)n has b88n apRd. fo Itwe8tment8 Mad¢el value at 31 DMber20?1 Unrealisèy ganlllos51 on in¥e5tments Market valuo 8131 Decembar2022 16.912 -1,7Y2 15,120 15,036 1,876 16,912 Investrnents atc¢>st 1,400 1.400 Thefollowro investments arè held". 2.800 Unts In Church ofScol8nd Fund 11 D•btorè Rents Grft Aid Tax Refund Due Awrued Interest PrepaKI Mansg Kitch Derwxit C.C.L I pre1 Xrnas Collh)n BaLgnca Listed PL9 ofworship Gnt Ap3on Fee r8 Hall Wind 2022 1.747 5.910 74 2021 1.914 7.073 517 2.978 202 13,721 8.356 12 Crqdltorn Repair1M81ntenW0rk at Mansè Colecliorts forcharty GrtyJF6 IGay Conceptcharges re copier Mintrsters Ex¥tnse¥ Rent Pre recai%d Others 2022 1,276 447 2,435 200 320 $,840 908 12,426 6.715 320 6.839 851 16,464 Page 12
HOLBURN WEST CHURCH, ABERDEEN Notes fomin art of the FiF)ancial Statements-year to 31 December 2022 13 Anaty8is of Net Assets Between Funds General Dasi nat•d Rèstrict8d Endowment Total Fixed Assets Investments Current Assets Currenl Liabilities Net Assets at 31 December 2022 418,000 418.000 15,120 528.389 -16.464 15.120 17.048 -16,464 495.661 15,680 913,661 15,680 15,120 945,045 14 Voluntee In cornrnon wtth all congregation5 of the Church of Scotland the congregation benefits from the contribution made by volunteÈrs who glve thÈir timÈ and talÈnts willingly forthe benefit of the Church.The areas of congree8tional life which rely on the contribution of voltjnteers are many and variÈd and much of the activity would be unable to continue were it not for the cornmitrnentshown. 15 Collections for Third Porties 2022 2021 Christrdn Erskine Park Home Earl HaKJ Ipoppy Scotland Water Aid Instant Neighbour 5,756 4,996 222 204 399 403 6,762 224 5.442 Page 13
Notes formin art of the Financial Statements-_Year to 31 December 2022 16 Movement Fftr Funds Incomi oin A58t 01101r22 Resour$ Resour Transfers 31112122 Endowment Funds Church of Scodanij Investor5 Trust 16,912 308 1,792 408 15.120 Re$tri¢ted Funds Anderson Headstolle Flowers Pastoral Care Musical Support Youth Work Junior Church Anderson Xmas Fund Baptismal Holbuin West Guild Cornmunity Outreach Fund Bews Building Projects 1,566 514 3,418 832 534 5,849 992 561 1,250 2.070 250 1,341 1.679 14,400 634 2,739 160 1,250 2,075 250 1,744 1.679 1,791 1,513 1,110 2,481 15,090 30.490 4.635 19.753 308 15.680 Unre5trieted Fvrrd5 Beque5ts1Legacy Special Projects Valuation of Propetti8S General Fund 434.130 3,648 418.000 594 89.531 -28.ODO 495,661 -3,648 418.000 113,218 144,876 31,648 856,372 202,749 144.876 914.245 Total Fund8 903,774 207,692 166.421 945.045 of Endowrnent Funds Church of Scotl2nd Tru$t-Income is to be used towar<ls supporb.ng Pastoral Care. Pur Ses of Restricied Funds Anderson HeadstontrTo pay for maintenance of Headstone Flowors-To be used for Sunday Flow8rs in the Sanctuary Pastoral Care-To support the Minister in providing assistan wthin the parish Musical Support-To a5SlSt and enhance worship with music. Youth Work-supporting the needs of the youth within the churc Junior Chur¢h-Monies left for the benefft of the younger worshippe15 Ander50n Xma5 Fund-To be used for Sunday School Parbes at Christmas Baptismal-To be used in support of baptisms. Holbum West Gulld-serwng the Church, Communities and wodd Community Outreach-To infomi and encourage the local community Betty's Buildlng Prolects-To be used on Fabric of the SanctuarylHalls Ses of Unrestricted Funds BequestslLega¢y-To be used as instructed by the Tnjstees Speclal Prolects-.To prtsvKle monfes for Major Roof RepaiTS and other impiovements within the confines ol the Church , Ha15s an(1 Manse. Propertles Valuation-The Cuttent Market ValUatn of the Manse and Tenn15 Court General Fund-The unused *ncome over ouigoings from the upkeep of the Mintsty Pui Page 14