2024-12-31-accounts

GREYFRIARS FREE CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENT8 XTY,e YEARENDEllJ.tRRWW20aLv ')

GREYFRIARS FREE CHURCH LEGAL AND ADMINISTRATIVE INFORMATION chrtty nurnb•r IScoUand> SC013359 Gre r5 Free Churth Balloan Road Inv•m lir2 4PR The Mwnd Edlnburgh EH12LS

GREYFRIAR8 FREE CHURCH CONTENTS OF THE FINANCIAL 8TATEMeMT• 8-20

IVI IKI

GREYFRIARS FREE CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Th• tru8teei prnvnl I￿r BnkxJ81 re￿1 •nd finonra•l 8t8t•m￿th frx th• y•Ar •nded 31 O•c4ffthr 2024. The finandal 8tatem8￿ have been prywred In o[￿￿4n¢% rylh ts •c3Junting wljdes $81 In note 1 to Ihe finarKi81 &t•terr￿18 and 0JM￿ wsth thartty'g gov8rnlng dr￿Ment. IP Charities 4nd Trust4￿ Invesbrtht (So￿•￿al A¢X 2005, Charitio# A￿ount8 {S¢>)tl8ndl Regul8lOon$ 2L￿6 (a• •mnd•d) •rd "Attujthng and R•wtng by ChaTrtié8.' StAtem￿tt of Reryynmnd8d Pr8Cti( aPFlieabl8 lo o)¥n¥•s prep8riryJ Ihelr ac¢cwt• in aC¢ord•r￿1 wfth th• Financaal ReFNtiTh4 Standard applicable in the UK 8nd R8wÈ4k of Ireland IFRS 1021. i January 20191. Greyfri4rlStr¥thtrrrick Fm Church ol Scouand 18 • o)ngr•gats'￿ of the Freè Church of So)tl•ThJ V•Y)thir•J tovrards oarrrfTh)n aim$ set out bel¢yw. 1118 a Pre8bytertan churth adhering in worship And ¢h)(Arinè lo the poso'on of th• Chun ol So)Uand at the Refomation. Fre8 Church of So)IlaThJ has an 0x￿anatOry dcuirnnt wh explains the origin8 of U)e Churth and givey the histon.￿l badtground to the Church C¥)mirrfJ into being in 1843 aThJ lists doc#Jrrent6 in ig embodied the o)n8thubon of the Churth. The dcument 18 available on request from thè Frw Churth of Scouand, 15 North 8ank St.. Th¥ MouThl. EdintyJrgh. EH12LS. The Free Churr of So)U4nd ￿rrenVy hay over 100 congreg8bon8 in Sc¢llgnd, as well •$ OM in London and f￿r in North ArrEri¢, and sister Churthes founded by mission work in IrKlia, P8ru and South AfrKa. Tl)e Churth algo has a seminary in Edinljurgh for the training of ministers and other Christian workers and su8tsins an extensive mis¥hJnary proJramm• r￿ative to the $rze of th& churth. Th• prir￿paI a¢Xvity of the Church 18 the c)nduL of wblic wcnhip and aggocialed matters in the eontext of local congwations. iry from 1843 but with it3 roots in the Reforrn8tion, thg Fre8 Churth of ScoUnd rts di8tincve lrtle to rtj hthrical 8tnJggle to femain 'free' from stale intsrferen(* in rts internal affairs. It ha8 dose and a¢tNe relations wrilh many othor Rtsfom￿ churches of Jesus Christ thrtsugw th• wortd and stands in the trad￿on whth a￿epts th• Bitle in its ents.rety a$ the of God and, therefore, derives its fomis of teathing. worship. ministry gcNemment from It. Thg m8in 8nwh88is of our worship 1$ the preathing of th8 gosFel- the gc¥Jd n8ws of a free and soverwgn salvation through Jws Christ alone. Th8 11￿M9ation is authorisod by the Church to have a minist•r pald from central fijnds oftho Church. Tho trJJildirg18 ts prop8rty ofthe t>)rvJregafjM and is heid under th8 Church's model tru8t d88d. gOv￿rnIn1 of the Free Ctturth of S￿d Prtsbyt•n"an and the C￿gregOti￿ VJ wrthin the P￿$bY￿Y of

GREYFRIARS FREE CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ch•rftsbh •cllvlll•• rtng X124, th• churt rngulthfy Ic¢ 4r￿ c•rrlfjd out v•rkxM #calvIli￿ crf th• 8brNe •ltsJ Slgnhlcni hwlbhts, •rJ of ntxe In Iho yoar. In folation lo ¢rrfvJreg•tion81 YbU•• irKJu the fdloNlr¥J Ixty rrLYrfflwJ 80ryi￿, therv 18 o Sunday Sthool for ￿Mory 8dKJl Thi# i• twglrt at three drllwent B {8#th d•88 wlh th￿r ovm room 8nd tead￿rI. Intsnt 1 (3-5 yo8rn1. Infant 2 {￿mIry 241. 8rMI Junior (primary 71. The thildr•n l•am Bibts Stori￿ • vwloty of way•, tw do woth•hwt•, ryaft¥, ￿ t•am ffw¥)ry from the Biblt. Crth m•th in lh• d•dK•t•d rocyn fvr thildren LP to 3 y•grs cAd 0￿ry Surnlay. Corgrfjg8ti¢x)#l Fell¢Avship mnthty In the thur¢h after the Sunday evonlThJ setmcè frcm 19.30 10 20.45. After shan.ry supper together. v have a brieftirrn of singing, and then listen to an inwt¥d ¥xak•r. ENYry Sunday ￿￿￿h1 trom 19.30 10 21.00, th8 young P￿rIe maèt in an Inftxmal 88tting vrilhin tho cKNrh. #hare In lpwship and fo(yJ, fdlowed ty 4 Short Jmo ofteaching. t•fjtirr¢ny or di8tsJ88ion. Re￿•r meetings of Kldz & Co, a Moth•r and Toddler grtyjp. in Neod. a Wbmen's Mission Suppjrt group. meet tach mrth in the thurch ￿ on Zoom. Jdzc4)è for wm•ry sc1K￿l ¢hiK4Ten mo•1 wggkty frcth O¢oberto&oril. A ny>thty trxeakf8St18 held to provide a $0ts81 g8trring for mwnbeTS ofthe wTr3regation. h8¥8 an annual ￿MI￿ ￿)ngl￿a0bonal outing to the bgath, and a party for ts thldren at Christmas. Gra￿ and the Gap Fund was set up to peO￿e in the local community who are in need. Th￿￿g￿ worklr¥J 8efVtces, gaps in service pr¢)vion hav8 been ideAtifi•d, which the fvnd aims to fill. Sorne examples are rgery supply of b•by lo1￿￿1e8, Of electri¢ity uedrf(. The fvnd IB ac£e88ed by referral from a seMc• thal can the ￿ation. Eath individu8W8mity i￿n the fund four times per year. The pritirity areas are our irrfflwjiate cx)mmunltle8 of Hilton, Casde Heathor. and East arna8.

GREYFRIAR8 FREE CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 F•n•Trel•l v•vl•w Rwurtl tr th• y••r The St•tefftht ol Fln•nu•I Aat¥d•• f8fi•th 01 £48,011{2023. tJ,475). 1118 of tho I￿r￿￿ to malnt•ln urK•trfci•d fiJrth, l.•. lund• ncA or I￿¥￿ted In flx•d •g••t8, at a lerf to yfr)￿mit￿Y thrry• rnrmthi unrn8Mtt8d 81p￿￿rtUn Thr• ollcw• lu1ndo￿ ￿nd1 lo •n4bl• Myk ol tho lo te malntalned. Th• Gomrnl Fund •{ 31 De(wter 2024 •mu￿6d fo È503,532 12023 - £438.H81. ol th1• £370,IM12023 - £325.0001 r•l•l•• to Inv••lff•rrt prowty £84.S5412023 - É81,8401 to ftx•d •••t Irw••￿, fr•e r•••ry•• of £88.078 {2023 . É49.8cei. Thr•• xt￿1 •xp•Nllknr• on tho G•twrnI Fund tolglw £18.143. 11 ￿ •XF•L•(I th•t th• 9•nwou• off•rfrq• crf T￿n g•• Iw•l ofre•w•$ In ftrtur•. Tcl•l rewrvts, Ind4bJiNJ th• nel valuo ol fixed #I￿￿. do•W•d thureh wcrt•f and brK•• on re•tntt•d fvndl •nwnted to É1.381,81812023- £1.333,6071. Oon•llon maklng pollcy Tf• thur( rn8k￿ dcnatsonj trom its thed gfft to and lyg8n1￿1K)n lfvt •r• gerK•raity Io th• trusM•• •ryJ tm thurc. TM ban￿0n¢$ arn Inv¢fv•d In •GIvI￿1 or ￿nI1￿•¥ (ThWII)l• chjrrxi ¢ty'•aiv••. Prln¢lwl I￿OIng •¢xffG•• Th• thurc r•(ive¥ ¢tJ ftmdlng frcth churc memb•rJ trrf Way ofw•okty offwlng• •nd GfftAk dor￿￿￿•. R*k man•fJ•m•nt The tru¥teB8 rfsks to GreyfvlwJ Frne Churth l• expoued an On9￿r$ bo81¥ arvj t•k• approwltht 8t•pJ to mminN4¢ rlsk•. Th•K rf•ks •ra •h•red r•gul•rfy the Church'• D•acon•' CourL 3tructur•. gov•m•nc• •nd m•nag•nwnt Greyth'arslstratherfca Fre• Ch￿￿￿ of Sc•llwd lo eJtablith•J by Ib a Sc¢ttl8h Ch¥lty (No. SC0133591 T￿ trustees wved dU￿rn￿ the ywr and up to d•t• ol tygn•lur• ol th• fift•r&￿ •t•t•m•nts w•r•'.

GREYFRIARS FREE CHURCH TRUSTEE8' REPORT (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER 2024 Thw• fix•d t•rn lor trv•l•••hip Prkf to thwr •pw'nlm•nt, n•w Irv•tw• h¥￿ lh• chwth fry In v•dw• rol#• •ThJ w￿jId ￿ famlllar Alth tho thurc'• v8lue8. ts 8irn8 •rhl t￿Ve ￿ vrtll as rtg th. iwiJib'lth8 a• 4rf18s re¥ThwlJ'l¢ty 81 ekjw CY d••con. The cknrth Ib Pre8trfftri•n in gO¥￿Tr￿n1 ¥nd its day to dgy runnkng 18 undertakèn ty Iho Eldn (tho Kirt Se9￿) J Ihe DO￿8(￿￿ t)8acs)n8' C￿rtI. Th• Deaco￿. Court8 fvnthon rel•tes to the materbal aTrJ fln¥nLy ol the yrfJr•9ational tru•l••• rspM¥iblè onty tr hokSng in tru•¢l. L¥

GREYFRIAR8 FREE CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREYFRIAR8 FREE CHURCH 8b20 Th• ¢Srlty trLtytw• ￿lt 10(1K•H¢l ol th• c￿￿1501 My •x•nynbofi i urri•d cArt tn •tts)thne• 4wth R•gul•lkn 11 of Iho Ch•rkl•• Acayxwth Régj m(18th•n th) not •N th• •YKJwK• thot M%kl b• ￿q￿r9d In ￿ audit ccfflwwrty l ¢>) nfrt . tr• ko•p >￿￿r￿n9 T•cr￿S In aCT￿•r￿ wllh se￿ 44(1)(a) of Iho Ch8Tthe8 and Trugtee Irfy*8tsw the c￿n￿A￿%unts (Scfyjand) RwJUlpl￿s 21

GREYFRIARS FREE CHURCH STATEMENT OF FINANCIAL ACTivifiES INCLUDING INCOME AND EXPENDITURE AccouKr FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2024 2023 168,229 1.017 28,870 S39 9.397 167.826 1,017 28,691 S39 139.fd3 13.1 1(K) 153,214 21 28,943 1.146 28.973 1,145 rotsl 188.455 9.418 197.873 168,831 13.421 182252 129 184.959 129 195,074 215 182,383 215 178,802 10,115 14239 185,088 10,115 19S203 102.578 14239 178,817 N•t g•ln•l(lo•wl 12 45,341 45,341 48.708 48,011 (818) 5,475 12.320) 2,987 48.011 3.426 2.049 5.47S R•conclll•tlon olfund•: 1,327270 6.337 1,333,807 1.323,844 4.288 1.328.132 Fwxl l¥l*nc•• •t 31 1.373.858 7,900 1,381.818 1,327.270 6.337 1,333.607

GREYFRIARS FREE CHURCH ALANCE SHEET AS AT 31 DECEMBER 2024 2￿4 2023 Flx•d ••••l• 14 888.484 370,r 218.$05 325 278.784 1,248.989 1.208.780 17 8.961 128.837 2,404 124,675 C•th •t t•rt v#J kn h•KI 137,598 127,079 Cr•diior•: wiiwiii• f*llky du• 12,Wl r2.241) 134,629 124,838 Totsl ••••ts l••• curv•ntll•blllll•• 1,381,018 1.333,807 Th• fvnd• 4Jlth• ¢h•rlty R￿l￿Sed inoxne 19 6,337 1.327,270 1.373,658 1.381,618 1,333,807

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL 8TATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024 Ch•rlty Inforn￿on Or•yfrtthi Frw Chwth tharfty rryl•t•r•d It th• Olk• ol lh• Scth•h Cl1ty R•wlAtor. 1.1 A¢¢ountlng cofiv•ntlon Th• finthY•l •t•t•m8nf• hove boon prep•red In llcc<)rd8nc• V•th th• ch8rtW• ￿nStitUtIOn, the Ch8rM88 and TnMte• Inv••tm•nt IScth•ndl Act 2th15, lh• ChArlll•8 Acc￿￿1• IScotlAndl R•guI9th￿S l•J am•r%Jedl, FRS 102 'Th• Fin•noAI R•poth'ng Standard •pplic4blè In the UK ANJ R8publJc ol Irol•n¢f I'FRS 1￿2-) and the Ch•rtile• SORP "AixoJnbThJ And Reporb'ng by ChgrbU88.' Statèm8nl of Rocomm•ndod Pr•cIl￿ applic•Ne to th•rlti•$ preparfng thelr 4(£ounli in atwrdgnc• wllh th• Fln8n¢4•1 R•porting St•ntFard 8pplicable In th• UK •rKI R•pulJi¢ ￿ Ir•l•nd IFRS 1021. l•ff•cl¥• 1 J4nu•ry 20191. Tho i• • Publt B•n•fft Entrty ai d•finod by FRS 102. Th• th•rlty h•$ tak￿ 4dvntsg• of t￿ rThl￿OnI In th• SORP for d)artllo• not ￿ p￿￿re • Stat•m•rt ol C•#h Fky￿. Th• finnri•l •t•t•Th•nl• •r• prnp•r•d In •t•rfing, vthich l• tho fundonal currnncy of th• ¢hartty. IAon8t¥ry •mwnt• In tr￿8• fin•ncA•I •tat•ments are founded to th• n••rn8t £. Th• finan>¢ •t•tsmBnt• have btr•n prtrp4red und•r the hl81ori&ql C￿11 o)nverrti¢)n, mothfied to t r￿alu8￿M ol fr￿hOld propertles and to Indude Inve$lmenl prO￿rt￿•S and e•rtaln fin•noAI in•trum•nti •¢ fair valu•. Th• prfn(#￿l acs)unllng pol￿0% •(￿pI•d •r¥ 8•t out b810w. 1.2 GolTrq ¢on¢•m At the ts"m• of gpproving th• fln•rK4•1 ¥t8t•n￿nts. the thJst808 hov• • roa8onab￿ ex￿￿￿￿0n that the h4$ ¥tJ•qu•t• re￿Ur¢$ to 4x+ntinu• In op•rntional •xi8t•nc4 for the for•899ablè fithr•. Thu# Iho tsw8te•• continu• to adopt t￿ gtiing o)ncm baws of a(￿unting in preparing the flnandal 8t•mont8. 1.3 Chrltsbl• fvnd• Unre8trfcled fvnd8 •r• a￿1￿• for at th• dlK•tlon of th• tru•1•￿ in fvrthernfK& of thelr thafl1a￿Q R￿¢￿ed fvndb Arn iubjocl to ip•dff¢ wndthns by donoT• or grnntorn 8 to they may be uaed. Th? purpo9￿ 4nd ofthe restrided ftmds are 8•t out In th• noto8 to thg Ilnand•l 8tst•mènts. fvnd• ar• wbjoct to gpednc ¢>)ndlkn$ by donm that t￿ ¢xpknl mugt be maintaSned by the charty. 1A Inc¢•m• Incx)me18 rwnl8ed whon thg d￿rity islogally gntiued to il 8fter any P￿tsm￿nce hav• been mèt, the aW￿Urrtl can bg m•a8ur•d reliably, 4nd rt is Probable that Incl￿ will tf r￿1ved. Cash donaUon$ are reo)gn18ed on r6celpL other don8Von8 arg rep)gn188d onc• t￿ thglity has been notmed of th• thation, unless perf0ftn9n￿ condstsons require deferral of the arrKsunL Ino)me tax rocoverablè in Ltsaad￿ aro rectrJni8•d on receipt or 0thgM8e rf the charity has been notified of an impeThllng dlthbutl¢Jn, tha amount 18 knon. 4rKI rec41pt is ￿ped￿d. ff t￿ aft￿nt is not th• Wcy is treatad *# )ntingenl awt.

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENT8 ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Actt)untlng poll¢l•• IConllnu•dl 1.6 EMp•nthr• Expendnurt 18 r•o)gnl••d orK Ih8r• 18 8 leg81 or c9)n￿Ul￿ oblwon to trJn8l•r •¢YKJmt benefft to # thlrd p•rty. M l• prob•ble tht A trAn8fef of berth Mll be requir•d In ••tlknmenl, and tho arrwnt ol the oblvJallon Tn•4Jurnd r•ll•W. Exp•ndlturn l¥ by •rMy. Th• c08ts of e8ch 8th1ty Are m8d• ol fv tot81 of dlréd colts and •h•red o)8t#. IndudiThJ SUFWt o)il$ Invdved In undertakino oath xttvity ￿'T￿(l c)atS 8ttAbthablo to • W'ryle •r• •lloc•led direthy lo that Shar8d o)st$ vthith c)niritrtrt8 to mor8 th#n Orng and PAJFVCYt o)sts are not 8ttdbu18￿e to 8 8lTrJle ore 8pp¥ytknn8d be￿ Ihw athvStl•• on • ￿1¥ n•s'8tènl the u88 ol rel(￿re•&. 1.6 Tang1b￿ flx•d ••••ts Tangible fixed a88èts are InNl•lty m888ur•d at c￿1 grKI 8ubs•quèntly me•wr•d at cost or NtylLWtth, nd of deprets8t1￿ ar￿ any impaim￿ntl0SSe$. Cwec4ation is reth3nigéd go as tts ￿lte off the Cost or valualh)n of a88•ts lem thth"r midual v8lue• over ttrw'r Useful IN88 ￿ the t￿￿￿n9 b08e8: Freeh￿d land ond I￿lIdIng3 Fixtures ond equipment 2% on ¢08t 20% on Cp)St The galn or loss arisirrfd on the dlsr4)sal of an a8set18 detennln8d aB the drference l)8twaen th• salè wceds and tho carying valu• of tha a8SOt, and is rec4nised in the 8tsI&m￿l of finanoal a¢tvibes. 1.7 InvoslJn•nt prop•rty Investment property. which is propety held lo eam rentals andlor ft>r Ca￿thI appre09tic￿. is initialty reeognised at cosL which inc4udes the purthase cost and any dirw experKtiture. Sub8equenUy it is measured at fair walue at the reportlrtg end date. The ¥￿￿luS of defiL on revaluation is recoJni8ed in ofit or108S. 1A Flxod awt Inv88tmonts Fixed asset investments are Inmalty measured at transaLon prfee txdudlng tran8acon ¢>%ts. 8nd ar• 8ubsequenty maasured 41 fair v8luo al each reimyting d8tg. Changes in fair value are recoJnised in net i￿orne1(e￿ndrturI for the year. Trnn¥acl￿n c#)8ts art eXp￿d 08 In￿r0d. 1.9 Imp•imwnt of flx•d amots At each reporting end date. the carity fewe￿ the caTrylng amounts of Its tangit4e assets to detemiine ethèr there 1$ any indi￿tiOn that thos8 assets have suffered an impairment ksss. If any $u¢h indi¢ab"on exists, the recovera￿¢ arTrJunt of the a88•1 is •81imated in ordgr lo determirn th• extent of the impainrnnl ss lrfany). 1.10 Cash Ga8h •quivalents Cash and cash equ¢valents indudè cash in harKI. d•posits hèkl at (all wilh bank$. short-tefm Ilquld Inve*merts vrith original maturibes of three ft￿nths or less, ond bgnk ovmdrafts. Bank oveT(Iraft8 are sh ilhin boffv•&irys in oJrr•nl l￿bIl￿.tS.

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Accofft pollcl•• (Cordlrnmdl 1.11 Fln•n¢l•l hinK Tl rtwrlty •l•L•d to •Fply th8 P￿11￿ ol Sèckn 11 '888lc FIn0nd￿ In•trU￿. •nd S•cllon 12 'Oih•r Finw¢ 1n•tnJm￿ts l•we•' of FRS 102 to 81101 rts fin•ndg1 Sn•trLment8. Fln•nd•l In•twm8rrt8 w• retsyJnt8￿ In t￿ b•lAnc41 •heet wl)•n tho to I Flnwx?11 and ￿1￿1￿8 oif#•t, with Iho rnt anM)unts wewnted In ts fin•nrial tst•m•nts, ¥ trer• 18 8 enfr)rr•able rfghl to 8el off tho rwnised •rd iy 8n irrt•rthn to on • n•t b•s1s or to realise asset aTrJ Settle the liabilty wmultan8cMJsty. B•81¢ fin4n¢ial a88•ts, Indudo debtor8 and c••h aNI bgnk bal•rK•J, are initially ma•ur•d at tr•nsactK)n pr￿ ir￿UdIr￿d Ir¥n8action ¢o¥ts and are wbBequènty carned at amc<ts'8ed c4)Jt th6 èffK Int•rest Trethod Unl￿ Ihe arrangement (XJnglilule8 a finonang trangad"on, ￿nIactiOn measured al the prèsent vglu• of the luiure recwpts di￿o￿nted at a market rate of irrternst. Finon¢yal ass•ts d•S6rf￿ AS rece￿0￿ wihin Or￿ year •rn not #M￿ti5•d. 8•sk fin•ncW Il•bllhl Basic financial liabilities. induding c¥edilor8 and bank lo•n8 are initialty reeognlsed at trnn8action prtce unleJ¥ the arr8ng•ment ¢xJnst¢tules a finanong transath'on, ¥thefe the dtrbt instrument Is measurnd at the present value of the future paymmts di8cuntsd al a mark•t of interejt. Fin¥nao1 Ikqbilibe8 da88ifi•d as pay1￿¢ ryihin one yèar are ￿t ankthsed. Debt instruments are subsequentty ¢arrie<l at amortised cost. U8ing tm effective intemt rnte mèthod. Trade fJeditors are c4)ligations lo pay for goods or seNice8 that have been a(4uired in the ordin¥ry courne of operations from suppliers. Amounts paYa￿e are dassified 89 ￿rreftt li8biltbes rf paymont 1$ du8 within on year or les8. If not. they are pre8entgd as norrfyJrr8nt liabilthes. Ttsde u&Jitors are recognised in￿¥11Y at transathon price and subsequèntly measured at 8mortised ￿$1 using the effective interest meth¢)d. Dwpcognitwon of Iln•n¢i•l118bllitl•s Finanoal liabilthes ara d8r8cognised vthen ¢￿￿t¢S o)ntractual obligalions expire or are di8(aryed or Kelled. 1.12 Employ0• b•n•fft¥ The cost of any unuBed hollday entiuemenl 1$ rewiised in period in vthith the empw's are rec*ved. Temin8ti¢)n beneffts are recognlsed immedi8tety as an 8XFonso vthen the thar6ty18 demonstrabty c4)mmitted to terminate the employment of an em￿9yee orto PTowde termirwtion beneffts. Incomo from d¢xwlloThs and 109aclo• Unrgstrlctod R••trl¢tod nd fund• 2024 2024 Tolal Unmtrlct•d R••lrfthd Total 2024 2023 2023 2023 158,229 9,397 167.626 139,923 13.291 153.214 10-

GREYFRIARS FREE CHUFtCH P40TE3 ro THE P114AMCIAL STATE￿1￿9 ICOlnlNUÉO) FOR THE YEAR EIIDED 31 DECEhlBER 2024 2024 2024 2023 817 400 617 820 820 100 1,017 1.017 1LXI W20 nd• 2024 fvnd• 2024 nd• 2023 2024 2023 19.200 19.200 19.485 19.485 Irrfx)rn from unlisted 70 9.400 70 9.421 85 7.393 21 7.423 28,670 21 28.691 28,943 26.973 ftd• 2024 2023 539 1.145 fund• 2024 fvnd• 2023 215 11

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL 8TATEMENT8 {copifiNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 G•n•rtl G•n•r•l 2024 St•ff c)Jts 850 18.837 21,472 2,620 2.824 Clwlr 1,819 2.930 1,79) 7.973 28,809 2.418 81,255 4,bY20 10,422 2,945 81.370 Rerrit to cqntr 153.851 153,378 Sh•r• of •upport gov•rn•nc• co•ts Iw• not• 8) 39,911 1.512 21.784 195.074 178,602 Analy•kn by Unrestri(1gd frJnd¥ R&strktsd furKI8 184.959 10.115 182,363 14.239 195.074 178,602 12-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL 3TATEMENT8 (CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 ¢o•ts •lkK•tsd kn •¢Ovlll•• 2024 2023 2.570 4.079 S.208 742 S,788 2,013 832 IDxJr•nc L6ght •nd he•1 Tolopho Rèp•lr• •nd r•pl•w7W Prfntlng and •l•tl¢y••ry 4,423 10,333 17,550 1,784 921 400 n4 1,512 profe￿￿￿•1 •nd loyl Whb•rt• Ind Gov•m•TrLYJ ￿•11 552 1,440 41.423 23.224 G•n•rnl Ac 41.423 23.224 2024 2023 In¢J•p•ndent exarnlmfs f8•1 1.512 1,440 1,512 1,440 N•t Thov•m•fit In fvnd• 2024 2023 Tho not movement In fvndl i• stst•d after chargintylcredilrNI'. F8•8 payable for Ihe irthpendenl exan￿￿10ft ofth• t•rWi financaal Jtatemènts DOW￿￿10n of tanglbl• fixed 488ets 1.512 21,472 16.837 10 Tr￿1•• NM¥ ol lhe tru8letys lorany wrJon¥ 01nn￿ thtsml received any ￿m￿n0￿1¢n durirvA the year. and r exp￿8￿ wer¢ received by th• Iru8tO•8 in COAnaiM with thtyr rol• •# tru8t••. During tho Y￿r. ol Ihi# and Ihe council tax ocwied the thur¢h m8n8e. No con?AdertKJn WAJ pAyabt• for th• arge was irKurreil ty the Church. urin the ar. expen8•8 of £2,620 (2023- £9.097- in his ￿padty of Mini$ter oflm Church. 13-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL 8TATEMENT8 (copifiNUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Efflploy• Plumt 14umb•r 2023 850 There no enwloyett vth¢Me Annual reM￿er&I10n w88 more than £OO.000. r¢muneNiw 1$ poKI by Greyftior8 Fre8 Churth to key management pernonrnl. 12 G•ln• and 108•M on Inv••lm•nl• fund• 2024 fund X123 GainsI(bs8￿) on.. 341 45,O)0 45.341 13 Tax• Th• cority18 exempt frryn tsxalon ￿ rts aLtivities boc8U80 an lis in￿)M9 h ap￿18￿ for charftable wrposes. 14-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENTS {COllflNUED) FOR THE YEAR ENDED 310ECEMBER 2024 14 T￿gIbl• fl%•d ••••l• Tolal Al l JIn￿ 2024 841,888 57,529 937.414 74.951 {46.4331 17.422 140,433) •pos•li Al 31 2024 899,397 .535 985,932 Al l J4n￿ry 2024 238.e83 17,988 95,546 3,484 148,433> 332.409 21,472 {48.4331 Eliminated kn re8pe(a of diskYJMII At 31 Decwr*w 2024 254,851 52,597 307,448 ng amount At 31 December 2024 13.938 e58,484 At 31 D•c•th 2023 605,005 805.005 At f January 2024 ns cf10gseg through fair value adju8tmgnts 32S.000 45.000 Al 31 t)￿mber 2024 370.000 Picyeitss at 57 Casye Heather Roal and 31 Culduthel MairA. In¥￿￿ aro induded in investment tythties. Both prokwrtles have teen valued by thg tr￿tea$ st 31 De¢ember 2024 based on on 0￿￿ mark8t value. Tho ChLwth rec•iv•s rerrtal income frtyn th• prop•ty. 2024 2023 370.￿0 325,iJ)O 15-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENTS (coNfiNUED) FOR THE YEAR EP4DED 31 DECEM8ER 2024 C••h In Totsl At 1 J•rwry 2024 2,530 278,234 9,4Crt) 278.781

,4CKJ

341 (TO.0￿) 341 (70,¢))01 At 31 2024 2.871 215,eJ34 218,505 At 31 tl•cwrt)w 2024 2.871 215,834 218.505 At 31 O•cnw 2023 2,S30 278,234 278,784 17 O•b14Jrn 2023 Amwrt• falmng du• lthln OTh• y••r. 2.095 8,901 2,404 18 crnd1￿. amounts f•lllng du• lthln on• y••r 2024 2023 Als And def•ff•d In 2.989 2.241 16-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENT3 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 At l Jlmwry I￿ornIng A••<MAr￿• TrnfMf•f• 2024 •ip•nd•d At31 20 1.9J9 2,190 147 75 15) 12,8e6) 14,408) 2,183 1,102 Kldzon• Mltslon In N••d iath •nd Co 1,278 4,553 75 558 2.822 15561 {2,4801 2.W20 4,328 8,337 9,418 110.1751 2,320 Pr•vlou• y••r. At 1 Jnwry Incomlno R••ourc•• Trnn•f•rn 2023 r••ourc•• •xp•nd•d At31 Churr *wk•r fw 3,281 800 4,190 {2.2881 12.180) {4.4501 (77) 15201 {300) (4,444} 1.959 2,190 147 75 1,150 407 1,745 2.400 Mission In N••d KNSZ and Co coll•don• 11,5931 520 300 4,350 Grace arnl Gap 4.288 13,421 114.239) 2.a87 8,337 17-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 R••lrtct•d fvnd• (conon￿l) R•pre••nt• fvndi h•ld by lh• group frx cr￿ u••. Kldz •nd Co R•￿Ints Itt• by th• grow f¢ UM. IAIMlon In N••d R•W••￿ts lh• fvndj hold fce In mI•￿0n work. Chuv¢h work•r ReF￿8•￿ntI th• fiMd• and Amount• on tho employ￿ of a Chuth wofrt•r. 8p•cl•l ¢oll•¢lloTr• A•pr￿entI don•tth• f•c•lv•d fry • •p•dfic rw•d or pr•••rrtallon khrrtfflod by lh• c4rwJreg•Uon Youth A¢tlvltl•• Th• Grnc• and th• Gap fvnd Reprn8w• donati￿$ lo provld• hOu￿￿oId don•tlw• A• food. dothiThJ, k41otrl••. •tG. to Ir￿1¥1duo19 and f8milie• In fie•d in th• local c¥)mmunty. 20 Unrn•trlct•d fund• Th• unrn8trlct•d fvndj of th• chorfty comw1￿ th• un•xp•nded bAl4nc•• ofdonallons and grnnt• vthith 4f• not 8ubjad lo wfic condit￿n$ by donor8 and gf¥nlof8 a8 to h¢)w thèy moy b• used. Th•80 indud• des￿￿010￿ fvnd$ vknlch how boon awde out of unrestri&￿ funds by the trust•￿ for •paofic purpoJ¢8. At l J•nury In¢4)mlng R••ourcw Trnn•f•rn 2024 rn•ourco• •xp•nd•d QlM and At31 lo•••• DK•mb•r 2024 FLxed aMot fund Property fvr Churc rrk•r fund Greyfrlars tKe8kf8•t fijnd General funds 805.005 88,895 121.472) 198.732) 74,950 11,950) 658.483 57,413 89.200 21fj.924 7,028 170.000) 153.952 $39 91,688 1311) 164.573) 50 15.370) 278 503.532 438,440 45,341 1.327.270 188,455 (185,088) 12.3201 45,341 1.373.858 18-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL 8TATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unr••trIC￿ fimd• (Cofitlnu•d) pr•v1￿ y••r. At l J•rnry Incomlng R￿0￿￿•# Trnfi•f•v• G•ln• Ar 2023 v••t)uru• •Apw￿d At31 2013 Fl¥•d • 621,842 59.657 {18,8371 {10.34n 605.￿$ 88.895 Propty ftjnd Churth wth•r frJThJ 19,885 211.118 431.327 218,V24 436,448 143,340 1135,3941 (2,86n 40 1,323.844 168.831 1182,578) 12.867) 40 1,327.270 Vnr••trl¢t•d Fund• Flx•d A•••t Fund Rewt8•nts tK ¥¥lu• of Unr1￿7¢1•d ftJnd• tied ￿ in fix￿ 4M81•, woukl rnl be r•adity w)v&1ibfe into ReP￿sents tho v8lu• ol unr•8trid•d fvnds hokl for purpts￿ of property gxpèra68. Church Worker Fund Represents #mounts 88188ide folkn¥itvd th• sole of Tom•tin thurch and Errcgie thurth for tm funrfin9 01 Gr•yfrirn broakf••t fund Represents fvnd held for the operation ofthe ¢>Jngreg8lit)n's mnthly tYtsklasL G•n•rnl fund• Repfesents all inojme and •xpendbture relating to th• wm8ry foDJ8 aCti￿be$ of the tharty. crther than th08• forthith fvnding is designated ry restrided. 21 An0￿1 of n•t amots b•tswn fvnd• Total fund• 2024 nds 2024 2024 At 31 Doc•mbw 2024: Tanglblo assets 658.484 370.IrfJO 218.505 126.669 858.484 370.CK)O 218.$05 134.629 Inv88fvnts Currwrt ass6￿{1Fabll1lIO8) 1,373.858 1,381,618 19-

GREYFRIARS FREE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 An•￿￿ ￿ n•t ••••ts b•t••n IConllrsu•dl Unv••trl¢l•d A••trlel•d fvnd• fund• 2023 2023 T¢)tsl 2023 At JI D•c•mb•r 2023: eos.rKJS 325.000 278.784 118,501 325.000 278,784 124,838 Cuff•nt •mOt￿lIA￿lI1•¥) 6.337 1.327.270 6.337 1.333.807 22 R•l•l•d party trnMctlon• D￿Tra th• y•8r. thè Churth purtha88d wods and 88wvIce8 to tho value of £470 {2023- £343) frcTh Sewrty AJ•rn# Lirthd, a o)mpgny %th08e dlr8dorn Include of the tw¥t•es. Tho *0 gc#)ds 9•Ni￿1 to thè v¥lue of £34,902 from A MxR8ikl & Son JcAMr Cmtrxtorn. a bJ4ln•M ¢14￿￿￿ ifK4ud8 tfflh) of the trustee•. Durirfj th• year, donatiw of £40.215 (2023- È41.738} wern rec•fv•d from the IruJt8O8.