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 •c*3Junting 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) •r*d "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 ReF*NtiTh4 Standard applicable in the UK 8nd R8wÈ4k of Ireland IFRS 1021.
i January 20191.
Greyfri4r*lStr¥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 $rze of th& churth. Th• prir￿paI a¢Xvity of the Church 18 the c*)nduL* of wblic
wcnhip and aggocialed matters in the eontext of local congwations.
iry from 1843 but with it3 roots in the Reforrn8tion, thg Fre8 Churth of ScoU*nd rts di8tinc*ve lrtle to rtj
hthrical 8tnJggle to femain 'free' from stale intsrferen(* in rts internal affairs. It ha8 dose and a¢tNe relations wrilh
many othor Rtsfom￿ churches of Jesus Christ thrtsugw th• wortd and stands in the trad￿on whth a￿epts
th• Bitle in its ents.rety a$ 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
Slgnhlc*ni hwlbhts, •r*J 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 8dK*Jl 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 c*KNrh. #hare In
l*pwship 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 g8tr*ring 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¢)vi*on 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 b*rK•• 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* lfv*t •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.
i*wiJib'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 <xThJr￿tsOn. w4ttere￿ El¢Jern are charged the general w)d spirilu•l over•fjM of the
Lrryftyotthl. u￿1¥ thartty Law the DéaLxJns' Court are deermd to be the T￿￿1••8 of th• c￿vre9￿.{m. rrhi* i•
¢Ji•inc# trom th• rnl• of ¢>yrfJr•9ational tru•l••• r*spM¥iblè onty tr hokSng in tru•¢l.
L¥

GREYFRIAR8 FREE CHURCH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GREYFRIAR8 FREE CHURCH
8b20
Th• ¢S*rlty trLtytw• ￿lt 10(1K•H¢l ol th• c￿￿1501
My •x•nyn*bofi 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 Cl*1ty 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￿ 4dv*ntsg• of t￿ rThl￿OnI In th• SORP for d)artllo• not ￿ p￿￿re • Stat•m•rt ol
C•#h Fky￿.
Th• fin*nri•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)nc*m 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 kno*n. 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 th*t 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$.
Cwec4ation is reth3nigéd go as tts ￿lte off the Cost or valualh)n of a88•ts lem thth"r midual v8lue• over ttrw'r
Useful IN88 ￿ the t￿￿￿n9 b08e8:
Freeh￿d land ond I￿lIdIng3
Fixtures ond equipment
2% on ¢08t
20% on Cp)St
The galn or loss arisirrfd on the dlsr4)sal of an a8set18 detennln8d aB the drference l)8twaen th• salè wc**eds
and tho carying valu• of tha a8SOt, and is rec4nised in the 8tsI&m￿l of finanoal a¢tvibes.
1.7 InvoslJn•nt prop•rty
Investment property. which is propety held lo eam rentals andlor ft>r Ca￿thI appre09tic￿. is initialty
reeognised at cosL which inc4udes the purthase cost and any dirw experKtiture. Sub8equenUy
it is measured at fair walue at the reportlrtg end date. The ¥￿￿luS of defiL* on revaluation is recoJni8ed in
ofit or108S.
1A Flxod awt Inv88tmonts
Fixed asset investments are Inmalty measured at transaL*on prfee txdudlng tran8ac*on ¢>%ts. 8nd ar•
8ubsequenty maasured 41 fair v8luo al each reimyting d8tg. Changes in fair value are recoJnised in net
i￿orne1(e￿ndrtur*I for the year. Trnn¥acl￿n c#)8ts art eXp￿d 08 In￿r0d.
1.9 Imp•imwnt of flx•d amots
At each reporting end date. the c*arity fewe￿ the caTrylng amounts of Its tangit4e assets to detemiine
ethèr there 1$ 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 h*inK
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 •r*d 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 di8c*untsd 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 v*thith 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 COAn*aiM with thtyr rol• •# tru8t••.
During tho Y￿r.
ol Ihi# and Ihe council tax
ocwied the thur¢h m8n8e. No con?Ader*tKJn 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• c*ority18 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•c*n*w 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 J*nwry
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•nu*ry
In¢4)mlng R••ourcw Trnn•f•rn
2024 rn•ourco• •xp•nd•d
Q*lM 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•rn*ry 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•yfri*rn 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•
fort*hith 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 tr*nMctlon•
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.