Unaudited Financial Statements for the 12 Months ended 31[st] December 2024 For Kilmuir & Stenscholl Church **1 |** P a g e **Kilmuir & Stenscholl Church** **Contents of the Financial Statements For the 12 Months ended 31 December 2024** ||Page| |---|---| |Reference and Administrative Information|3| |Trustee’s Annual Report|4| |Statement of Financial Activities|5| |Balance Sheet|5| |Notes to the Financial Statements|7 to 8| |Detailed Statement of Financial Activities|9| **2 |** P a g e Kilmuir & Stenscholl Church (Registered number: SC0140721 Reference and Administrative Information Charity Name.. Kilmuir and Sten5choll Church of Scotland Charity Registration Number.. SC014072 Congregation Reference Number.. 422319 Contact Addr8SS'. The Locurn and all elders and members of the Con8regalional Board are Tru5tee5 Locum: Elders: Congregational Board: Principal Office Bearer5 Locum Session Clerk Clerk to the Board Church Treasurer Bankers Bank of Scotland Somerled Square Portree Isle of Skye IV519EH ## **Trustee’s Annual Report Kilmuir & Stenscholl Church (Registered number: SC014072)** ## **Year ended 31 December 2024** ## **Structure, Governance and Management** The Church is administered in accordance with the terms of the Deed of Constitution. ## **Recruitment and Appointment of Trustees** Members of the Kirk Session and the Congregational Board 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 is appointed from within the congregation and members of the congregation are invited to nominate individuals who are believed to have the skills and commitment to contribute to the management affairs of the Church, to become members of the Board. Board Members are then appointed at the Stated Annual Meeting and serve for a period of three years after which they must seek re-election at the next Stated Annual Meeting. ## **Organisational Structure** The Congregational Board and the Kirk Session are chaired by the Locum and meet as necessary in the course of the year. ## **Objectives and Activities** ## **General** 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. **4 |** P a g e ## **Kilmuir & Stenscholl Church** ## **Statement of Financial Activities** ## **(Incorporating an Income and Expenditure Account)** ## **For the 12 months Ending 31 December 2024** |Notes
**INCOMING RESOURCES**
**Incoming Resources from generated funds**
Rental Income
**Incoming resources from charitable activities**
Donations
Grants
**Total incoming rersources**
**RESOURCES EXPENDED**
**Cost of generating funds**
**Charitable activities**
**Governance costs**
**Total resources expended**
**NET INCOME/(EXPENDITURE) FOR THE YEAR**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|
Unrestricted Funds
£
23,908
12,916
3,193
40,017
136
42,397
270
42,803
(2,786)
32,128
29,342|Restricted Funds
£
0
6,359
0
6,359
100
100
6,259
13,150
19,409|31/12/2024
Total Funds
£
23,908
19,275
3,193
46,376
136
42,497
270
42,903
3,473
45,278
48,752|31/12/2023
Total Funds
£
16,171
23,004
1,616| |---|---|---|---|---| |||||40,791
137
35,630
294| |||||36,061| |||||4,731
40,548| |||||45,278| The notes form part of these financial statements **5 |** P a g e ## **Kilmuir & Stenscholl Church** ## **Balance Sheet At 31 December 2024** |**FIXED ASSETS**
Notes
TangibleAssets
**CURRENT ASSETS**
Debtors
Cash in Bank - Fabric Fund - 053
Cash in Bank - General Fund - 934
Cash in Bank - N02 a/c - 061
Cash
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestrictedfunds
Restrictedfunds
**TOTAL FUNDS**|UnrestrictedFunds

£
0
0
18,026
11,316
0
0
29,342
0
29,342
29,342
29,342|Restricted Funds
£
0
0
0
0
19,409
0
19,409
0
19,409
19,409
19,409|31/12/2024
TotalFunds
£
0
0
18,026
11,316
19,409
0
48,752
0
48,752
48,752
48,752
29,342
19,409
48,752|31/12/2023
TotalFunds
£
0
0
14,276
11,593
19,409
0| |---|---|---|---|---| |||||45,278
0| |||||45,278| |||||45,278| |||||45,278| |||||32,128
13,150| |||||45,278| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year to December 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year to December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) Ensuring that the charitable company keeps accounting records that comply with sections 386 and 387 of the companies Act 2006 and - (b) Preparing of financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015). The financial statements were approved by the Board of Trustees on 23[rd] March 2025 and were signed on its behalf by: Trustee The notes form part of these financial statements **6 |** P a g e ## **Kilmuir & Stenscholl Church** ## **Notes to the Financial Statements** ## **For the 12 Months to 31 December 2024** ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is specified as restricted or unrestricted and is included in the SOFA in the period in which the charity is entitled to its receipt and when the amount can be measured with reasonable certainty. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when entitlement becomes unconditional. Voluntary income includes donations, grants which provide core funding or are of a general nature. Donated services and facilities are recorded as they are received and are recognised in the SOFA when a reliable measurement can be made of their value. Income from charitable activities includes grants for the provision of goods or services to beneficiaries, including fees and income raised from activities carried out in furtherance of chartable objectives. ## **Resources expended** Expenditure is accounted for on an expended basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Costs of generating funds comprise the costs associated with attracting voluntary income with the exclusion of those costs associated with delivering or supporting the provision of goods and services in furtherance of the charity’s objects. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of indirect nature to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity includes accountancy fees. The Charity is not VAT registered and therefore costs include the irrecoverable element of VAT with the expenditure to which it relates. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% straight line and 15% on reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by a donor or when funds are raised for particular restricted purposes. Grants received towards fixed assets, once fully expended in accordance with the terms and conditions imposed, are held as designated funds in order to track the net book value of the related assets. Further explanation of the purpose of each fund is included in the notes to the financial statements. **7 |** P a g e ## **Kilmuir & Stenscholl Church** ## **Notes to the Financial Statements – continued** ## **For the 12 Months Ended 31 December 2024** ## 1 **TRSUTEES' RENUMERATION AND RELATED PARTY TRANSACTIONS** No trustee received any renumerations or reimbursement of expenses during the year. No trustee or person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year. ## 2 **DONATED SERVICES** No Donated Services were received in the period ## 3 **MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**||| |---|---|---| |**Unrestricted funds**
General fund
Designated Fabric Fund
**Restricted funds**
Staffin Church Refurbishment
Messy Church (General Fund)
**TOTAL FUNDS**|31/12/2023
Net Movement At
in funds
£
£
(3,611)
(177)
35,739
(2,609)|31/12/2024
£
(3,788)
33,130| ||32,128
(2,786)
12,525
6,359
625
(100)|29,342
18,884
525| ||13,150
6,259|19,409| ||45,278
3,473|48,752| ## **Annual Stipends** During 2025 it came to the treasurer’s attention that the stipend for 2024 had not been paid. The following have not been included in the accounts but are owed as at 31/12/24. 2024 Stipend £6,446.22 – This has been paid on the 18/3/24 **8 |** P a g e ## **Kilmuir & Stenscholl Church** ## **Detailed Statement of Financial Activities For the 12 Months Ended 31 December 2024** |**Fabric Fund**
**General**
**Fund**
**Staffin Church**
**Refurbishment**
**Messy**
**Church**
12 months to
12 months to
12 months to
12 months to
31/12/2024
31/12/2024
31/12/2024
31/12/2024
**INCOMING RESOURCES**
£
£
£
£
**Incoming Resources from generated**
**funds**
Rental of Premises
23,908
0
23,908
0
0
**Incoming resources from charitable activities**
Donations
(2,609)
15,525
6,359
Grants
3,193
(2,609)
18,718
6,359
0
**Total incoming resources**
(2,609)
42,626
6,359
0
**RESOURCES EXPENDED**
**Costs of generating funds**
Offering Envelopes
136
0
136
0
0
**Charitable activities**
Ministry and Mission Stipend
16,415
Presbytery Dues
381
Water
0
Council Tax - Manse
0
Phone
0
Hire of Hall
0
Pulpit Supply
0
Travel Expenses
3,761
Fabric Repairs and Maintenance
0
0
0
100
Professional Fees
Electricity
19,036
Insurance
2,355
Donations out - Compassion
352
Books
0
Bank Charges
0
Other Expenses
97
0
42,397
0
100
**Governance costs**
Accountancy
270
**Total resources expended**
0
42,803
0
100
**Net (expenditure)/income**
(2,609)
(177)
6,359
(100)|**TOTAL**
12 months to
31/12/2024
£
23,908
23,908
19,275
3,193
22,468
46,376
136
136
16,415
381
0
0
0
0
0
3.761
100
0
19,036
2,355
352
0
0
97
42,497
270
42,903
3,473|**TOTAL**
12 months to
31/12/2023
£
16,171| |---|---|---| |||16,171| |||23,004
1,616| |||24,620| |||| |||40,791| |||137| |||137| |||14,960
0
(349)
0
0
0
0
3,687
4,521
0
10,209
2,201
308
0
0
93| |||35,630| |||294| |||36,061| |||| |||4.731| The financial statements were approved by the Locum on 23[rd] March 2025 and are signed by: **9 |** P a g e Locum This page does not form part of the statutory financial statement’s **10 |** P a g