## **Kelso North and Country Churches (Church of Scotland)** ## **Report and Financial Statements** **For the year ended** **31 December 2024** **Congregation No: 030266** **Charity No: SC 014039** **Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024 Reference and Administrative Information** **Charity Name:** Kelso North and Country Churches (Church of Scotland) **Charity Registration Number:** SC014039 **Congregation Reference No:** 030266 **Principal Office:** ## **Principal Office Bearers** Minister: Session Clerk: Church Treasurer: ## **Independent Examiner** Rennie Welch LLP Academy House, Shedden Park Road Kelso TD5 7AL ## **Bankers** Bank of Scotland 8/9 The Square Kelso TD5 7HG Royal Bank of Scotland 6 The Square Kelso TD5 7HG Page 1 Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024 Reference and Admlnfistratlve Informallon (cont) on16 Page 2 ## **Kelso North and Country Churches (Church of Scotland) Trustees’ Report Year ended 31 December 2024** The trustees present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 to 11 of the accounts and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland effective from 1 January 2019. ## **Objectives and Activities** 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 in every parish of Scotland through a territorial ministry. It co-operates with other Churches in various ecumenical bodies in Scotland and beyond. ## **Achievements and Performance** This has been a year of seismic changes, and we are now named Kelso North and Country Churches. The union on 16th June with Kelso Country Churches has been a blessing and has brought old friends together and allowed new friendships to be made. People have worked hard to change long held traditions of worshipping in certain places at certain times. Adapting to new ways and new places of worship has been a journey of discovery. Love, respect and grace have been apparent in all of these transitions. The different churches have allowed for new worship opportunities, and we now have evening services in Ednam and cafe church in Makerstoun once a month, alongside weekly worship in Stichill at 9.30am and Kelso North at 11am. This has opened the churches up to people who would not otherwise have attended, and new worshipping communities are being formed. Music plays a vital role in our churches and our two organists lead our worship week by week and produce wonderful musical afternoons and evenings throughout the year. The choir has continued to lead the worship in Kelso North, week by week. Our lay people are regularly involved in worship, through leading of prayers, Bible readings and leading worship. We celebrate the sacrament of communion four times a year during morning worship and on Maundy Thursday in the evening. We have been blessed by the sacrament of baptism in our church and the joy of weddings too. We are privileged to be with families at the end of this earthly journey for their loved ones and our churches have held many funerals over the past year. We meet weekly for prayer and Bible study. Acorns, our Sunday School group meet monthly. Men@KNCC, Women Together and Tuesday Fellowship offer fun and fellowship. / (cont over) Page 3 ## **Kelso North and Country Churches (Church of Scotland) Trustees’ Report (continued) Year ended 31 December 2024** The new ‘Town and Country Messenger’ goes out 4 times a year, offering news, inspiration and information. Our links with Blythswood Care and Hope and Homes for Children have offered people a chance to learn about others’ lives and share resources. In December, we reached the end of our two year ‘Growing Young’ programme, but have banded together with Galashiels and Tyne Valley Growing Young teams to continue this vital work to assess current church culture and identify areas for improvement to foster meaningful connections across age groups. We livestream the 11am service in Kelso North and are grateful to our team of technicians who make this possible. We are thankful also, for the two projectionist teams in Stichill and Kelso North. The churches are able to function because of a commitment from the congregation and a small paid staff who are all living out their Christian faith in words and action. Session Clerks, Treasurers, Elders, church officers, Flower Arrangers, members, friends and members of the communities where the churches are, all play a vital role. ## **Financial Review** The principal source of income is from offerings; this raised £97,991 (2023: £103,792) including the tax on Gift Aid with our overall unrestricted income being £149,897 (2023: £121,502). During the year there were dereases in funds from a number of our income sources including Gift Aid offerings of £51,969 (2023 £57,599) The use of Digital Giving via Paypal raised £706 (2023: £1,889). The rental income from Use of Premises raised £6,515 (2023: £4,619). Other Income raised £102,086, which includes £99,326 balance transferred on the date of the union. Investment Income from Dividends has increased with a particularly encouraging performance of funds held by The Church of Scotland Investors Trust Growth Fund. Deposit Interest increased substantially reflecting the improving interest rates available. We plan some new fund raising initiatives during 2025 following the completion of the union with Kelso Country Churches. Total expenditure for the year was £166,809 (2023: £146,951). The Project Fund has been created to monitor income and expenditure on the vestry/kitchen/toilet project at Kelso North Church (see Reserves Policy below and also note 13). ## **Investment Policy and Performance** Long term investments are mainly held in the Church of Scotland Growth Fund where the objectives are to achieve capital growth and a twice yearly distribution of income. The fund performance was 11.6% in 2024. Shorter term investments are held in both the Bank of Scotland and the Church of Scotland Deposit Fund, both of which provide a high interest rate – in 2024 the Bank of Scotland interest rate was 3.5% (for a deposit maturing in July 2025) and the Church of Scotland Deposit Fund’s average interest rate was 5.1% for 2024. ## **Risk Management** Two main risks have been identified – the increasing average age of the congregation, which is being addressed by the Growing Young programme, and deficits in our annual accounts. To address the latter, work will be carried out by the congregation in 2025 to consider fundraising and stewardship strategies. Page 4 ## **Kelso North and Country Churches (Church of Scotland) Trustees’ Report (continued) Year ended 31 December 2024** ## **Reserves Policy** Kelso North and Country Churches' Reserves Policy is based on the need to identify significant predicted spend in the coming years and the provision for expenditure that may arise during those years. As detailed in note 13, at the year end the Church held unrestricted funds of £118,663, of which £115,459 had been designated for the General Fund. The church also held £27,184 of restricted funds which have been provided for the purposes specified in note 13. These are stated at cost value rather than market value. The funds held on behalf of the congregation by the Church of Scotland General Trustees in the Consolidated Fabric Fund (see Appendix) are available to meet some of the annual fabric costs which we incur on the various buildings which the congregation has responsibility for (four churches, the manse, and two halls, one of which has ancillary rooms). In particular, up to £85,000 of these funds have been committed by the Kirk Session to a project in 2025 to update the vestry, kitchen and toilet facilities at Kelso North Church. The Trustees are aware of our generous resources at this point in time but we are also aware of the ongoing need to maintain and also upgrade our buildings to extend the advancement of Christian Mission in and around Kelso. ## **Structure, Governance and Management** The congregation is a registered charity, number SC014039, and up to the date of the union on 16th June 2024, was administered in accordance with the terms of the Model Deed of Constitution. Since the union it has been administered with the terms of the Deed of Constitution (Unitary Form). It is subject to the Acts and Regulations of the General Assembly of the Church of Scotland. Members of the Kirk Session and the Congregational Board (the latter to 16th June 2024) are the charity trustees. The Kirk Session members are the elders of the church and are chosen from those members 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 inducted by Presbytery. (The Congregational Board was appointed from within the congregation and members of the congregation were invited to nominate individuals who were believed to have the skills and commitment to contribute to the management affairs of the Church, to become members of the Board. Board Members were then appointed at the Stated Annual Meeting and served for a period of three years after which they had to seek re-election at the next Stated Annual Meeting). The Kirk Session, which meets five or six times a year, is responsible for the spiritual and temporal affairs within the church. Various committees have been set up and meet separately before reporting back to the Session. Page 5 Kelso North and Country Churches (Church of Scotland) Trustees, Report (continued) Year ended 31 December 2024 Ti'ustets, Rfspollsibilities ID Relatioll to the Fillallcial Statemellts The clwity trnstees aTe responsible for preparing a tsnstees. annual report and fu￿1claI statemenls in accordance with applicable law and Uniied KiILgdom Accountllig Standards (United Killgdom Generally Accepted Accouuting Practice). The law applicable to clwities in Scotland requires the clwity 1rnstees to prepare fmallcial statements for each year wbicli show a true and fair view of rhe stare of affairs of tbe cbaliry and of the illcome and eXpendIt￿'e of the charity for that period. In pieparing the fjnancial Statements, the trusiees ate Tequired to.. select suitable accounting policies and then apply them consistently. - obs￿'ve the ll￿thOd alld plinciples in tbe applicable Ch￿]11eS SORP: e jiidgell￿lltS and estill]ates thal ate reasonable and piiideTht,' state whether applicable accoulltillg standard5 and statenients of recOll]￿ended practice have been followed, subject to any dep￿tL￿eS disclosed 8nd explained in the financial statements. - prepaTe the financial statements on the going concern basis unless it is inappropriate to presume that the cILirity will colltillue ill operaliollal exisience. The trustees are respollsible for keeping adeqiiate accounlll]g records that w'e siifficient to show and explain the ch￿]ty'S transactions and disclose witb reasonable accuTacy at any time the fmancial position of the Ch￿]ty alld to enable them 10 ensiwe that tbe financial statements conwly with the Charities and Ti￿stee Illvesiment (Scotland) Act 2005 aThd ihe Chatities ACcol￿ts (ScotlatLd) RegLilatiOllS 2(K)6 (as an]ellded). They are also responsible for safeguarding the assets of the charity and Iience for taking reasonable steps for the prevention and detection of fraud and otheT irregularities. The ttuslees are responsible for the maintenance and integriry of the clwity and financial InfOrn￿￿Oll on the congregation's website. Legislatioll in the United Kiiigdojll governiiig tlie preparation and disseniiiiation of financial staten]ents d￿er from legislation in other Jwisdictlolls. Appi'oved by the T]￿steeS and signed on their behaifby:_ 26+1tr 2025 Date Page 6 Independent Examiner's Report to the Trustees of Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024 I report on the accounts of the chan'ty for the year ended 31 DeCe￿ber 2024 which are set out on pages 8 to 19. Respeclive responsibilities of trustees and examiner The cbarity's trLJStees are respoiisible for the preparation of the accounts in accordance with the tenns of the Charities and Trustee Investtnent (Scotland) Act 2005 and the Cbarities Accounts (Scotland) Re￿lIationS 2006 (as amended). The charity tTUStees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my i'esponsibility to examine the accounts as reqiiired Ullder section 44(1) {c) of the Act and to state whether particular matters have come to my attention. Basis ofindependent eiaminer's stAtement My examination is carried out in accordance with Regulation I l of the Clwities Accounts (Scotland) Regulations 2006 (as amended). An exawinalioll incliides a review of the accounting records kept by the charity and a comparison of the aecounts presented with those records. It also includes Collsidei'ation of any ullusual itell)s or disclosures in the accoullts, alld geeks explanations from ibe tn￿teeS concerning ally such ll￿tters. The proCed￿'eS Ulldertaken do not provide all the evidence that would be required in all audit, and consequently I do nol express all audit opinion on the view given by ihe accounts. Independent examiner's statement In the course of my examinatioty no ll￿tter has cO￿e to my attention which gives ￿e reasonable cause to believe that ￿ any ￿ate[la1 iespect the reqll￿ementS.' to keep aecoulltillg records ill accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 AccOl￿tS Re￿lIatiOnS (as a￿ellded), alld to prepare accol￿1$ which aecord wilb the aecoullting records and con]ply witb Regulation 8 of the 2006 Accounts Regulatiolls (as aD]eDded) have not been ￿et, 01 2. to which, ￿ my op1￿0￿, attention should be drawn order to ellable a propeT understalld￿8 of the accoullts to be Teached. Re￿￿ell'elL ACade￿Y House, Sheddell Park Road Kelso TD5 7AL 2025 Date Page 7 ## **Kelso North and Country Churches (Church of Scotland) Statement of Financial Activities Year ended 31 December 2024** |**Note**
**Income and endowments from:**
Donations and legacies
**1**
Charitable activities
**2**
Other trading activities
**3**
Investments
**4**
Other
**5**
**Total income**
**Expenditure on:**
**6**
Raising funds
Charitable activities
Goverance Costs
**Total expenditure**
**Net income/(expenditure) before**
**gains and losses on investments**
Net gains/(losses) on investments
**Net income/(expenditure)**
Transfers between Funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**General**
**Unrestricted**
**Funds**
**2024**
97,991
8,558
6,515
3,496
33,337
149,897
235
163,934
2,160
166,329
(16,432)
-
(16,432)
3,100
(13,332)
131,995
**118,663**|**Other**
**Unrestricted**
**Funds**
**2024**
-
-
-
-
27,820
27,820
-
-
-
-
27,820
5,917
33,737
-
33,737
2,010
**35,747**|**Restricted**
**Funds**
**2024**
-
-
-
648
40,929
41,577
-
480
-
480
41,097
1,212
42,309
(3,100)
39,209
3,183
**42,392**|**Total**
**2024**
97,991
8,558
6,515
4,144
102,086
219,294
235
164,414
2,160
166,809
52,485
7,129
59,614
-
59,614
137,188
**196,802**|General
Unrestricted
Funds
2023
103,792
11,892
4,619
1,199
-
121,502
342
145,199
1,410
146,951
(25,449)
-
(25,449)
-
(25,449)
157,444
**131,995**|Other
Unrestricted
Funds
2023
-
-
-
-
-
-
-
-
-
-
-
2,741
2,741
-
2,741
(731)
**2,010**|Restricted
Funds
2023
-
-
-
22
-
22
-
-
-
-
22
-
22
-
22
3,161
**3,183**|Total
2023
103,792
11,892
4,619
1,221
-
121,524
342
145,199
1,410
146,951
(25,427)
2,741
(22,686)
-
(22,686)
159,874
**137,188**| |---|---|---|---|---|---|---|---|---| Page 8 Kelso Nortkn and Country Chui'fbes (Church of Scolland) Balallce Sheet at 31 Derembei- 2024 Gener Other Lnresti'lcted Unrestrtcted Reshltted UJ)restritred Unrestriered Restritled Fuuds Funds 2023 2023 Fulld5 2024 FuDd5 2024 FuDd5 2024 Total 2024 Total 2023 otf 2023 F￿e￿ Assets ]ll￿es￿ents io 50.656 35.747 25.782 112.185 32275 2,010 34285 TotAI Fixtd A&5ets 35,747 25.782 Il2.185 32,275 2.010 34,285 CuiTellt Asset$ tkbiors Cash at bank al￿ in ]Jand TO1￿ Cllrrent Asset5 li 14.791 64.240 79,031 14.791 80.850 95,641 8,029 104.005 112.094 8.029 107.248 115277 16.610 16.610 3.183 ti&bi]itie5 CreditLYS falling due one ￿ar tt Cun'tnt A55c15 11.024 6&007 11.024 84.617 12.374 99,720 12.374 102,903 16.610 3,183 l%et Assets 131.995 2.010 137.188 The funds of the (kn￿￿ty. General unrestricied futmjs ReTh"aluatioll fi￿d Restiicted funds 13 118.663 118.663 50.955 131,995 131.995 2.010 35,747 15.208 27.184 42 35 747 ￿92 196 802 2.010 3.183 131 995 2.010 137 188 The accoullts appToTredbythe trustee5 5igJLed on their bthalfby. Pa8e 9 **Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024** ## **Accounting Policies** The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below. ## **Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) effective from 1 January 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities accounts (Scotland) Regulations 2006 (as amended). ## **Fund accounting** Funds are classified as either restricted funds or unrestricted funds, defined as follows: Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund. ## **Going concern** The Trustees consider that there are no material uncertainties about the ability of the charitable company to continue for the foreseeable future, and therefore has adopted the going concern basis in preparing these financial statements. ## **Recognition of income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. ## **Donated services and facilities** Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102) the general volunteer time of congregation members is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt. Page 10 **Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024** ## **Accounting Policies (cont)** ## **Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## **Recognition and allocation of expenditure** Expenditure is included in the Statement of Financial Activities on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. ## **Fixed Assets** The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church, halls and manse, vested in the Church of Scotland General Trustees. No consideration is payable for the use of these assets. Expenditure incurred on the repair and maintenance of these assets is charged as resources expended in the Statement of Financial Activities in the period in which the liability arises. All tangible fixed assets costing in excess of £5,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. There are no tangible fixed assets. ## **Investments** Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year. ## **Taxation** Kelso North and Country Churches (Church of Scotland) is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held at the Bank of Scotland and with the Investors Trust. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. ## **Creditors** Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Page 11 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** |**1**
**Donations and Legacies**
Offerings
Tax recovered on Gift Aid
Legacies
Other
**2**
**3**
**4**
**Investment income**
Dividends received
Deposit interest
**5**
**Other income**
Transfer of Union Balance
Grants
Rent received
Fund Raising Events
**Income from charitable activities**
Weddings and funerals
Other Income
**Income from other trading activities**|**General**
**Unrestricted**
**Funds**
**2024**
72,248
17,678
250
7,815
97,991
4,400
2,589
1,569
8,558
6,515
1,078
2,418
3,496
30,577
2,760
33,337|**Other**
**Unrestricted**
**Funds**
**2024**
-
-
-
-
-
-
-
-
-
-
-
-
-
27,820
-
27,820|**Restricted**
**Funds**
**2024**
-
-
-
-
-
-
-
-
-
-
427
221
648
40,929
-
40,929|**Total**
**2024**
72,248
17,678
250
7,815
97,991
4,400
2,589
1,569
8,558
6,515
1,505
2,639
4,144
99,326
2,760
102,086|General
Unrestricted
Funds
2023
76,897
12,460
5,456
8,979
103,792
6,390
4,931
571
11,892
4,619
693
506
1,199
-
-
-|Other
Unrestricted
Funds
2023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Restricted
Funds
2023
-
-
-
-
-
-
-
-
-
-
-
22
22
-
-
-|Total
2023
76,897
12,460
5,456
8,979
103,792
6,390
4,931
571
11,892
4,619
693
528
1,221
-
-
-| |---|---|---|---|---|---|---|---|---| Page 12 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** |**6**
**Raising Funds**
Offering Envelopes
**Charitable Activities**
Giving to Grow' Contribution
Presbytery Dues
Minister's Expenses
Pulpit Supply
Other salary costs
Fabric Repairs & Maintenance
Council Tax
Other Buildings Costs
Church Office Expenses
Organ & Music
Printing, Stationery & Postage
Other Expenses
Project Costs
New Projector
Governance Costs
**Total**
**Analysis of Expenditure**|**General**
**Unrestricted**
**Funds**
**2024**
235
58,864
1,832
3,517
150
28,368
8,075
3,558
36,427
736
2,495
3,273
5,202
4,185
7,252
163,934
2,160
166,329|**Other**
**Unrestricted**
**Funds**
**2024**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Restricted**
**Funds**
**2024**
-
-
-
-
-
-
-
-
-
-
-
-
480
-
-
480
-
480|**Total**
**2024**
235
58,864
1,832
3,517
150
28,368
8,075
3,558
36,427
736
2,495
3,273
5,682
4,185
7,252
164,414
2,160
166,809|General
Unrestricted
Funds
2023
342
66,130
1,178
2,404
770
26,115
13,264
3,477
20,690
681
2,060
3,659
4,771
-
-
145,199
1,410
146,951|Other
Unrestricted
Funds
2023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Restricted
Funds
2023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2023
342
66,130
1,178
2,404
770
26,115
13,264
3,477
20,690
681
2,060
3,659
4,771
-
-
145,199
1,410
146,951| |---|---|---|---|---|---|---|---|---| Support costs have not been separately identified as the trustees consider there is only one charitable activity. Therefore support costs relate wholly to that activity and have not been separately identified. Page 13 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** |**7**
**Staff costs and numbers**
Salaries and wages
Social security costs
The average number of employees during the year was as follows:
Ministerial support
Music staff
Premises maintenance|**2024**
**£**
28,368
-
28,368
**2024**
**Number**
1
2
2
5|2023
£
26,642
-
26,642
2023
Number
1
2
3
6| |---|---|---| No employee had employee benefits in excess of £50,000 (2023 - Nil). All Church of Scotland congregations contribute to the National Stipend Fund - part of the Giving to Grow payment on page 13 - which bears the costs of all ministers' stipends and employer's contributions for national insurance, pension and housing and loan fund. Ministers' stipends are paid in accordance with the national stipend scale, which is related to years of service. For the year under review the minimum stipend was £31,642 and the maximum stipend (in the fifth and subsequent years) £38,884. The Church of Scotland applied the following sums to offset Kelso North and Country Churches' contribution to the National Stipend Fund in the year to 31 December 2024: £10,600 endowment income from the Church of Scotland Consolidated Stipend Fund and £1,837 in respect of glebe rent. ## **8 Trustee Remuneration and Related Party Transactions** During the year 7 trustees received reimbursement of expenses incurred totalling £7,880 (2023 - 6 trustees received £7,461). Payments were made to the following individuals who are Trustees or connected to Trustees for providing the following services during the year. |||**2024**|2023| |---|---|---|---| |**Name**|**Services provided**|**Total payments**|Total payments| |||**£**|£| ||Church Officer|35|-| ||Church Officer|115|-| ||Church Officer|1,138|955| ||Church Officer|675|430| ||Church Office Secretary|5,980|5,148| ||Organist|2,754|2,305| ||Church Officer|92|-| ||Church Officer|385|455| ||Church Officer|277|920| During the year a total of £18,680 was donated to the congregation by trustees. ## **9 Volunteers** In common with all congregations of the Church of Scotland the congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown. Page 14 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** |**10 Investments**
Market value at 31 December 2023
Transferred from Country Churches
Unrealised gain / (loss) on investments
Market value at 31 December 2024
Investments at cost
Accumulated Gain
The following investments are held:
Unrestricted Funds:
Rolls Royce:252 Ordinary Shares of 20p
Astra Zeneca:18 Ordinary Shares of US $0.25
Church of Scotland Investors Trust:
Growth fund:13,023 Units
Restricted funds:
Church of Scotland Investors Trust:
Growth fund:
Stichill Welfare Fund:1,199 Units
Hay McLaren & Lady Grissel Ballie
Fund:172 Units
McDougal Bequest Fund:68 Units
Rev J.C.Kerr Memorial Fund:2,602 Units
**11 Debtors**
Gift Aid Tax Refund Due
**12**
Pre Paid Income
Other
Undistributed Balances
**Creditors**|**Original**
**Cost**
**£**
1,449
831
48,376
50,656
3,004
441
175
6,953
10,573
61,229|**2024**
**£**
34,285
70,771
7,129
112,185
61,229
50,956
112,185
**Market**
**Value**
**2024**
**£**
1,432
1,884
83,087
86,403
7,650
1,097
434
16,601
25,782
112,185
**2024**
**£**
14,791
14,791
**2024**
**£**
7,735
2,322
967
11,024|2023
£
31,544
-
2,741
34,285
32,275
2,010
34,285
Market
Value
2023
£
755
1,908
31,622
34,285
-
-
-
-
-
34,285
2023
£
8,029
8,029
2023
£
9,945
1,948
481
12,374| |---|---|---|---| Page 15 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** |**13 Movements in Funds**
**Restricted funds**
Roof & Steeple Fund
Kelso Quest Account
JC Kerr Fund
Walter Hogg Fund
Younger Bequest
McDougall Bequest
Hay McLaren & Grizzel Baillie
Stichill Welfare Fund
Stichill Fund
Young People's Fund
**Other Restricted funds**
Revaluation Fund
**Unrestricted funds**
General Fund
Reserve Fund
Flower Fund
Social Fund
Benevolent Fund
Saturday C.M.Fund
Women Together Fund
Tuesday Fellowship
Project Fund
KCC Reserve Fund
KCC Music Fund
KCC Fabric Fund
**Other Unrestricted funds**
Revaluation Fund
**Total funds**|**At 1 January**
**2024**
**£**
1,865
1,318
-
-
-
-
-
-
-
-
3,183
-
129,236
16
254
121
583
1,398
250
137
-
-
-
-
131,995
2,010
137,188|**Incoming**
**Resources**
**£**
12
-
14,821
1,767
934
579
1,449
7,859
60
100
27,581
15,208
118,208
-
-
-
-
440
-
770
-
15,444
4,532
10,503
149,897
33,737
226,423|**Outgoing**
**Resources**
**£**
-
-
-
-
(480)
-
-
-
-
-
(480)
-
(160,127)
-
(200)
-
(139)
(771)
-
(907)
(4,185)
-
-
-
(166,329)
-
(166,809)|**Transfers**
**£**
(1,800)
(1,300)
-
-
-
-
-
-
-
-
(3,100)
-
28,142
-
1,000
-
-
-
-
252
4,185
(15,444)
(4,532)
(10,503)
3,100
-
-|**At 31 Dec**
**2024**
**£**
77
18
14,821
1,767
454
579
1,449
7,859
60
100
27,184
15,208
115,459
16
1,054
121
444
1,067
250
252
-
-
-
-
118,663
35,747
196,802| |---|---|---|---|---|---| Page 16 ## **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** ## **13 Movement in Funds - 2023 Comparitives** |**Restricted funds**
Roof & Steeple Fund
Kelso Quest Account
**Unrestricted funds**
General Fund
Fabric Fund
Reserve Fund
Flower Fund
Social Fund
Benevolent Fund
Guild - Closed 2023
Saturday C.M.Fund
Toddler Fund - Closed 2023
Women Together Fund
Tuesday Fellowship
**Other Unrestricted funds**
Revaluation Fund
**Total funds**|**At 1 January**
**2023**
**£**
1,843
1,318
3,161
121,039
-
31,566
710
621
503
529
920
826
403
327
157,444
(731)
159,874|**Incoming**
**Resources**
**£**
22
-
22
119,776
-
265
-
-
80
-
730
-
21
630
121,502
2,741
124,265|**Outgoing**
**Resources**
**£**
-
-
-
(143,288)
-
-
(562)
(500)
-
(529)
(252)
(826)
(174)
(820)
(146,951)
-
(146,951)|**Transfers**
**£**
-
-
-
31,709
-
(31,709)
-
-
-
-
-
-
-
-
-
-
-|**At 31 Dec**
**2023**
**£**
1,865
1,318
3,183
129,236
-
122
148
121
583
-
1,398
-
250
137
131,995
2,010
137,188| |---|---|---|---|---|---| **Purposes of funds / (see over)** Page 17 **Kelso North and Country Churches (Church of Scotland) Notes forming part of the financial statements for the year ended 31 December 2024** ## **13 Movements in Funds (cont)** ## Purposes of Restricted Funds Roof & Steeple Fund Kelso Quest JC Kerr Fund Walter Hogg Fund Younger Bequest McDougall Bequest Hay McLaren & Grizzel Baillie Stichill Welfare Stichill Fund Young People's Fund For work on the steeple and roof. To employ a youth worker to work with young people in connection with Kelso North & Ednam, Kelso Old & Sprouston and Kelso Country Churches. Upkeep of the organ at Smailholm. Maintenance of the church fabric in the village of Smailholm. For the benefit of Makerstoun Church. Used at minister's discretion for poor of parish of Makerstoun. Used at minister's discretion for poor of parish of Smailholm. For poor of parish of Stichill, Hume and Nenthorn. For the benefit of Stichill Church. For work with young people in the church. Purposes of Unrestricted Designated Funds Reserve Fund The Trustees have set aside funds to meet future expenditure. Flower Fund To provide flowers for display during services of worship. Social Fund To help fund the social activities within the Church. Benevolent Fund To help those in need at the discretion of the Minister. Saturday C.M.Fund To fund charitable donations. Women Together Fund For use by Women Together. Tuesday Fellowship For use by the Tuesday Fellowship. Project Fund For the vestry/kitchen/toilet project at Kelso North Church. General Fund For the general purposes of the congregation. Reserve Fund For general and other purposes as required. Music Fund For any costs associated with the provision of music for worship. Fabric Fund For the maintenance of the church property. On 21st November 2024 the Kelso North and Country Churches Session agreed that all the former Kelso Country Churches unrestricted funds, i.e. General, Reserve, Music and Fabric, should be transferred to the Kelso North and Country Churches General Fund. |**Collections for Third Parties**
DEC Syria & Turkey Appeal
Christian Aid Palestine Appeal
Crisis Scotland Appeal
Hope & Homes for Children
Poppy Appeal
Blythswood Care Appeal
Dr Graham's Homes
Collection to assist an individual
Self Help Africa
Borders Womens Aid
Margaret Kerr Unit|**2024**
**£**
-
-
-
729
145
395
541
940
491
478
478
4,197|2023
£
567
664
240
897
122
30
-
-
-
-
-
2,520| |---|---|---| ## **14 Collections for Third Parties** Page 18 **Kelso North and Country Churches (Church of Scotland) Year ended 31 December 2024** ## **APPENDIX 1** ## **FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES** ## **CONSOLIDATED FABRIC FUND** |**CAPITAL ACCOUNT**
Credit Balance held at 1 January at cost
Transferred from Kelso Country Churches at the date of the union 16 June 2024
Credit Balance held at 31 December at cost
Market Value of Balances at 31 December
**REVENUE ACCOUNT**
Credit Balance held at 1 January
Transferred from Kelso Country Churches at the date of the union 16 June 2024
Interest and dividends received from 16 June 2024
Less - to General Fund for fabric costs
Less - General Trustees' administration charges
Credit Balance held at 31 December|**31 Dec**
**2024**
**£**
-
577,651
577,651
623,378
-
17,652
15,168
-
(1,147)
31,673|**31 Dec**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-| |---|---|---| Page 19