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← Dalkeith: St Nicholas Buccleuch Parish Church (Church of Scotland)

2024-12-31-accounts

The Church of Scotland

St NICHOLAS BUCCLEUCH PARISH CHURCH

DALKEITH

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CONGREGATIONAL Noz 030197
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Scottu Charity SCO14158

Actrued (SORP Compliant) Accoumty 2O024-

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CONTENTS and short description

Page

l Trustees Report

2,3 Financial Review

4 Reference Information including List of Trustees and Office-Bearers

5 Trustees Responsibilities re Accounts

6 Independent Examiner's Report

7 INCOME and EXPENDITURE Summary for the Y ear

(Statement of Financial Activities)

8 NET ASSETS at Year End (Balance Sheet)

9,10 Statement of Accounting Policies

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |1]|Note|||-|5|Income| |12|Note|6|Expenditure| |13|Note|7|-|8|Staff|and|Trustee|matters| |14|Note|9|-|10|Long|Term|Assets|and|Investments| |LS|Note|I]|-|14|Short|Term|Assets|etc| |16|Note|15|Information|on|the|various|Funds| |17|Note|16|Special|Collections|for|third|parties| |17|APPENDIX|Funds|held|by|Church|of Scotland|Trustees|

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Dalkeith: St Nicholas Buccleuch Parish (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 in note | to 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 ofIreland published on 16 July 2014.

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 évery parish of Scotland through a territorial ministry. It co-operates with other Churches in various ecumeni¢al bodies in Scotland and beyond.

Dalkeith: St Nicholas Buccleuch Parish Church fulfils its objectives through offering services of worship, social events for the promotion of fellowship, raising funds to support the work of various charities and providing opportunities for service to the community. The style of worship is predominantly traditional, and the theological stance is progressive and inclusive. The congregation is actively involved, with other churches in the town, in support of the Storehouse which principally provides food and other necessary, useful and welcome items for the most deprived families in Dalkeith and its surrounding area. It also cares for an exceptionally fine medieval church building, available to the people of Dalkeith and beyond. The congregation runs a Coffee Shop from April to September, open on Tuesdays and Thursdays. The congregation also provides an important service to the community through the letting of its halls and making available a piece of land for gardening, thereby supporting Narcotics Anonymous, Claire’s Safe Haven, a community choir, Health in Mind art therapy and gardening groups, the Boys’ Brigade, Brownies, Rainbows and dancing classes for children and adults, among others.

Achievements and Performance

Week by week, God has been worshipped in St Nicholas Buccleuch, performing the single most important function ofany Christian congregation. Worship has focussed on the values which Jesus himself embodied and practiced, namely compassion, care, truth, justice, and love. Services were livestreamed most week$ and this has been welcomed by those unable to attend in person. Attendance at Sunday services has been at about 40 people per service with a further 30, on average, accessing all or part of the livestream or recording. Communication with members has continued through the use ofaWhatsApp group, to which a short prayer has been posted every morning. Members have contributed to this along with the Minister and it has been shared with the congregation of North and South Leith Parish Church. Email, Facebook, and the church website have been used to communicate information.

Following the close of the Coffee Shop season, Soup and Rolls have been served on Thursday lunchtimes and this has proved popular. There were three baptisms (two infant and one adult) and one wedding. Eight funerals were conducted by the minister. Several members have returned after long absences. Funds were raised for various charities, notably Christian Aid and Poppy Scotland. A special collection was held for Christian Aid during Christian Aid Week and at Christmas. The process of Presbytery “Mission” Planning has continued to have a negative impact on the morale ofthe congregation. The Kirk Session, after much careful discussion, decided to recommend to the congregation that it should enter into deferred union with Newbattle Parish Church, for which the congregation subsequently voted. However, the Session is realistic in its expectation that this will likely result in the loss of members to the Church of Scotland, and a consequent loss of income. Joint services with Newbattle have been held, both in Mayfield and Easthouses Parish Church and in St Nicholas Buccleuch, and these have been well received.

In June, the minister announced he would demit in April 2025 to allow the union to progress. The proposal for a community buy-out reported in 2023 did not come to fruition. The Kirk Session continues to work on securing the church and associated buildings for community use once the congregation is forced by the Church of Scotland to cease using them. The manse at 116 Bonnyrigg Road, Dalkeith, was sold in November. 2024 has felt like a protracted process ofclosing down.

1

Trustees Annual Report Year ended 31 December 2024

Financial Review of 2024

The Statement of Financial Activities, page 7, shows the summary of the income and expenditure for the year to 31 December 2024.

The church was also able to draw on available funds from its holding in the Consolidated Fabric Fund (see Appendix on page 17 and explanatory note on page 3).

The total of unrestricted income was £64,229 (2023 £57,392), the increase assisted by withdrawals from the Consolidated Fabric Fund holding increasing from £4,534 to £10,820.

Total unrestricted expenditure increased by almost £20,000 to £70,510 from £50,646 in 2023. There were three main elements causing this increase. The Ministry and Mission quota increased by £2,143. Heat and light costs almost doubled from £5,089 to £9,463. Expenditures on the Manse prior to its sale in November 2024 amounted to £13,044, ultimately resulting of a successful sale (see Note 9).

Overall there was a deficit for the year on unrestricted funds of £6,281 compared with the 2023 surplus of £6,746, funded partly by transferring the Fabric Fund’s deposit holding of £4,500 with Church of Scotland, to that Fund’s current bank account (see Note 15).

Overall the restricted funds had net expenditure of £606 (2023 £320). Investment income improved by £1,726; fabric expenditure and music expenditure reduced by £480 and £1,270 respectively; while disbursements from the Session Fund increased by £3,669 to £6,987 from £3,318 in 2023.

The Notes to the Accounts, found on pages 11 to 17, provide more detailed information.

The first page of the notes cover notes 1 to 5 which show the various sources of the church's Income. The level of unrestricted Voluntary Income, with corresponding Gift Aid, maintained in 2024 reflects continued generous congregation giving.

Income from Charitable Activities comes mainly from Weddings, Funerals, Coffee Shop and Fund Raising. In particular, as noted above, the efforts of volunteers meant that the Coffee Shop was again able to contribute significantly to church income in 2024.

Note 10 lists the equity Investments held by the Church. At the end of2024, the investment valuations stood at £193,176 (2023, £181,160).

2

Note 15 summarises the Movements in and Purposes of all our Funds, showing their balances at the start and end of 2024. The unrestricted Funds, the main working fund, reduced from £27,019 at the start of the year, to £25,238 at the end, assisted by the Fabric Fund’s withdrawal of £4500 from Deposit Account, and withdrawals from the Consolidated Fabric Fund (see below).

Note 16 itemises the collections taken on behalfof third parties which increased from £2,596 in 2023 to £3,564. The congregation also generously supported the work of[the][Storehouse][with][gifts][of] food, household materials, toys and money. The Appendix on p17 details the Church’s holdings in the Church of Scotland General Trustees’ Consolidated Fabric Fund, which the Church can draw on for fabric expenditures. This holding is not shown in these accounts otherwise than in the Appendix, except for including sums withdrawn. In 2024 there were withdrawals of £10,820 (2023 £4,534), shown as Other Income (see page 7 and Note 5 on page 11. At December 2024 the Consolidated Fabric Fund revenue account had reduced to £1,853 compared with £11,070 at 2023. The quantity ofcapital units held was unchanged at 23,360, yalued at £34,192 at December 2024 (£32,576 in December 2023).

Investment Policy and Performance

During the year a review ofinvestments in companies listed on the Stock Exchange was carried out, concluding that the performance ofthese shareholdings justified retention. £2,000 in National Savings was realised.

Risk Management The Kirk Session maintains a comprehensive risk register which is reviewed and updated annually. The most serious risks which could affect the longer - term sustainability of the church are shown below with their mitigation and /or minimising strategies.

Unexpected major repairs Continue a good maintenance programme, Reserves fund,
external support from General Trustees.
Inability to appoint office bearers Make tasks less onerous, promote sense ofduty, show
appreciation.
Operate with limited financial Continue effective budgetary control, maintain reserves
resources policy, prioritise all expenditure demands.
Potential loss ofrental income Continue good relationships with all hall users and keep hall
facilitiestoagoodstandard.

Reserves Policy

The charity trustees have considered the reserves required and have taken into account their current and future liabilities. It is the Trustees’ policy to hold reserves of approximately three months éxpenditure including designated funds. At the year end the Church held unrestricted cash reserves of£25,238 (£17,658 in general fund plus £7,580 designated for fabric purposes). Cash reserves of £18,740 were also held in restricted funds, whose purposes are specified in Note 15.

Structure, Governance and Management

The congregation is a registered charity, number SC014158 and is administered in accordance with the terms of the Deed of Constitution (Unitary Form) and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland.

Members ofthe Kirk Session 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 ofthe Kirk Session, is elected by the congregation and inducted by Presbytery. Certain responsibilities are delegated to the Stewardship, Finance and Property Committee as appropriate. The Kirk Session, which meets five times a year, is responsible for spiritual affairs within the church. It has occasional additional meetings as necessary.

3

Trustees’ Annual Report Year ended 31 December 2024

lhe trustees present the annual report and accounts for the St Nicholas Buccleuch Parish Church

for the year ended 31 December 2024

Reference and Administrative Information

Charity Name:

St Nicholas Buccleuch Parish Church

Charity Registration No: SCO14158 Congregation Reference No: 030197 Contact A d ress: i

Bankers

Bank of Scotland High Street Dalkeith

4

Trustees Annual Report (cont) Trustees’ Responsibilities in Relation to the Financial Statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees and signed on their behalf,

5

St Nicholas Buccleuch Parish Church

Year Ended 31 December 2024

Independent Examiner’s Report to the trustees ofStNicholas Buccleuch Parish Church

I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 7 to 17.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

lhe charity trustees consider that the audit requirement of regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. a. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

  3. b. to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Date: AY. ar» - Le2S

6

St Nicholas Buccleuch Parish Church

Statement of Financial Activities

Year ended 31 December 2024

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |Unrestricted|Restricted|Endowment|Unrestricted|Restricted|Endowment| |Funds|Funds|Funds|Total|Funds|Funds|Funds|Total| |Note| |Incoming|Resources| |Voluntary|Income/Restricted| |Donations|1|23,864|457|24,321|24,219|550|24,769| |Charitable|activies|2|8,723|8,723|4,977|4,977| |Other|trading|activies|3|18,513|18,513|21,984|21,984| |Investment|income|4|2,309|8,451|10,760|1,678|6,725|8.403| |Other|income|§|10,820|10,820|4,534|4,534| |pes|fee|eT|Gees;|Seaepeeeeeeeen| |Total|Incoming|Resources|64,229|8,908|73,137|57,392|7,275|||64,667| |ac|a I|as ec|Se|I|a|I| |Resources|Expended|6| |Costs|of generating|funds|166|166|166|166| |Charitable|activities|70,344|9.514|79,858|50,480|7,595|58,075| |Governance|costs| |2 a|eeCee, ee| |Total|Resources|Expended|70,510|9,514|80,024|50,646|7,595|§8,241| |Net|incoming|(outgoing)|resources| |before|transfers|(6,281)|(606)|0|(6,887)|6.746|(320)|6,426| |Transfers|15|(400,000)|(400,000)|0| |SF|__|a|i eS-| |Net|incoming/(outgoing)|resources| |before|other|recognised|gains and|losses|(6,281)|(400,606)|0|(406,887)|6,746|(320)|0|6,426| |Gain(Loss)|on|revaluation|of investments|—|15|351|8,985|4,680|14,016|5528|5,528| |eS|——|o_o|ee| |Net|movement|in|funds|(5,930)|(391,621)|4,680|(392,871)|6,746|(320)|5.528|11,954| |Total|funds|brought|forward*|69,977|§71,362|31,164|672,503|63,231|571,682|25.636|660,549| |Total funds carried|forward|————————————64,047|179,741|——————eee—35,844|eee279,632|69,977|_————571,362|31464|672,503|

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7

St Nicholas Buccleuch Parish Church

Balance Sheet at 31 December 2024

Unrestricted Restricted Endowment Total
Funds Funds Funds Funds
2024 2023
Note
Fixed
Assets
Tangible Fixed assets 9 0 400,000
Investments (at Market Value) 10 38.810 118,522 35.844 193.176 181,160
38,810 118,522 35,844 193,176 581,160
Current Assets 11
Debtors 4.148 30 4.178 3,115
Bank and cash 25,233 63,708 88.941 93.612
29.381 63,738 0) 93.119 96,727
Current Liabilities 12
Falling due within one year
Creditors 1.144 2,519 6,663 5.384
4,144 2,519 0) 6,663 5,384
Net Current Assets 25,237 61,219 0 86,456 91,343
Net Assets 64,047 179,741 35,844 279,632 672,503
Unrestricted Funds* 15
General funds 55,947 55,947 57.969
Designated funds 8.100 8.100 12.008
64.047 64,047 69,977
Restricted Funds 15 179,741 179,741 171,361
Endowment Funds 15 35,844 35.844 31,164
Revaluation of Reserve - Manse 15 0 400,000
64,047 179,741 35,844 279,632 672,502

Note: A review of the proper allocation of Funds between Unrestricted, Restricted and Endowment has required changes in the comparative year’s Fund figures, within the unaltered total. Only the Music Fund meets the statutory definition of an Endowment Fund since its capital may not be expended. See note 15 on page 16 for more detail. The accounts were approved by the Kirk Session on a &[ 3/2i Sva :

For and on behglf of the Kirk Session /

Session Clerk

reasurer

8

St Nicholas Buccleuch Parish Church

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.

The charity has adopted the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities (issued October 2019).

Basis of preparation

The accounts have been prepared in accordance with applicable accounting standards and under the historical cost convention, modified to reflect the inclusion of investments at market value, and in accordance with the Charities and Trustee Investment (Scotland) Act 2005, The Charities Accounts (Scotland) Regulations 2006, the Regulations anent Congregational Finance approved by the General Assembly of the Church of Scotland in 2007 and the Statement of Recommended Practice: Accounting and Reporting by Charities (2019).

Funds

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.

Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income therefrom is used for the purpose defined in accordance with the objects of the charity.Such income is credited directly to the relevant restricted or unrestricted funds as "Endowment income"

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.

Incoming resources

All donations and gifts are included within incoming resources under either unrestricted or restricted funds according to the terms under which the donation is made and when the amount can be quantified with reasonable certainty. Donations and gifts in kind are brought into the accounts at their market value to the charity.

Resources expended

Expenditure is recognised on an accruals basis as the liability is incurred.

9

St Nicholas Buccleuch Parish Church

Accounting Policies cont'd

Tangible fixed assets

The charity has the right to occupy and use for its charitable objects the Church which is vested in the Church of Scotland General Trustees. The title of the Hall, Coffee Shop and Meeting Rooms is held by the Trustees of St Nicholas Buccleuch Parish Church. 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. The Manse, which was valued on an average market price, was sold in November 2024. All tangible fixed assets costing in excess of £3,000 having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. Depreciation is provided on a straight-line basis to write off the cost or initial value, less residual value, of tangible fixed assets over their estimated useful lives:

Fixtures, fittings, music and office equipment 3 years

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 ofthe year or cost if purchased in the year.

Taxation

St Nicholas Buccleuch Parish Church 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.

10

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Notes forming part of the financial statements for the year ended 31 December 2024

2024 2024 2023
Unrestricted Restricted Endowment Unrestricted Restricted Endowment
Funds Funds Funds Total Funds Funds Funds Total
6 Analysis ofResources Expended
Costs ofGenerating Funds
Offering Envelopes 166 166 166 166
166 166 166 166
Charitable Activities
Ministries and Mission Allocation 25,118 25,118 22,975 22,975
Presbytery Dues 822 822 441 441
Voluntary Additional Stipend 0 0
Minister's Expenses 2,921 2,921 3,093 3,093
Pulpit Supply 650 650 383 383
Fabne Repairs
& Maintenance		 689 1,390 2,079 1,245 1,870 3,115
Manse expenses 13,044 13,044
Council Tax 1,857 1,857 1,813 1,813
Water Charges (289) (289) 476 476
Insurance §:737 5,737 §,520 5,520
Heat & Light 9.463 9,463 5,089 5,089
Organ & Music 4,812 1,137 5,949 4,780 2,407 7187
Other expenses 5,120 §,120 4,265 4,265
Accounts Independent Examiner 400 400 400 400
Disbursed 6,987 6,987 3,318 3,318
70,344 9,514 79,858 50,480 7,595 58,075
Total Expenditure 70,510
—————————oe		 9,514
ee		 ————— = 80,024 50,646
=.Se		 SS 7,595
—————SS		 58,241
a

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

Expenditure on charitable activities was £79,858 (2023 £58,075) of which £70,344 was unrestricted (2023 £50,480) and £9,514 was restricted (2023 £7,595)

12

Notes forming part of the financial statements for the year ended 31 December 2024 cont'd

2023 2022
3 £
7 Staffcosts and numbers
Salaries and wages 0 0
Social security costs 0 0
Total 0 0

The average number of employees during the year was as follows:

2023 2022
Music staff 0 0
Cleaner 0 0
0 0
Noemployeehademployeebenefits.

All Church of Scotland congregations contribute to the National Stipend Fund 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.

8 Trustee Remuneration and Related Party Transactions

Only one trustee received reimbursement of expenses during the year £4,778 for Travel (Telephone £2,921 and Council Tax £1,857.)

No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year.

During the year a total of £7,683 was donated to the congregation by trustees.

13

Notes forming part of the financial statements for the year ended 31 December 2024 cont'd

9 Tangible Fixed Assets

Tangible Fixed Assets Music
Buildings Equipment Total
Cost
At
1 January 2024		 400,000 31,298 431,298
Transfer to General Trustees: Manse (400,000)
0 31,298 431,298
Accumulated Depreciation
At
 January 2024 31,298
Eliminated on Disposals (nil)
31,298 31,298
Net Book Value
At 31 December 2023 400,000 0 400,000
At31December2024 0 0 0

Note: The Manse was sold on 15 November 2024 for £508,000. The sale was undertaken by the Church of Scotland General Trustees and all funds retained by them, with a view to the expected imminent purchase by the General Trustees of anew Manse. After outlays, a net figure of £500,412.80 is held as Temporary Funds by the Church of Scotland General Trustees (see page 17).

10 Investments 2024 2023
i 3
Market value at 31 December 2023 181,160 175,632
Items added/(sold) during year (2,000) 2,386
Unrealised gain / (loss) on investments 14.016 3,142
Market value at 31 December 2024 193,176 181,160
The following investments are held: Quanuty 2024 2023
(at market value) £ £
UNRESTRICTED FUNDS
General CoS Income Fund 3462 38,290 37,944
Fabric CoS Income Fund 47 520 515
38,810 38.459
RESTRICTED FUNDS
Session CoS Income Fund 633 7,001 6,938
CoS Growth Fund 4725 30,145 27,547
CoS Income Fund 3888 43.001 42,612
NatWest Group (prev RBS) ord 100p 2839 11.416 6,229
City ofLondon Invest. Trust ord 25p 2860 12,327 11,712
National Savings Income Bonds £2,000 2,000
103,890 97,038
Apse CoS Income Fund 1091 12,066 11,957
Town Mission CoS Income Fund 28 310 307
Dora Robertson CoS Income Fund 204 2,256 2,235
118,522 111,537
ENDOWMENT FUNDS
Music (Capital) CoS Income Fund 269 2,975 2.948
NatWest Group (prev RBS) ord 100p 2571 10,338 5.641
Murray International Trust ord 25p 8750 22,531 22,575
35,844 31,164
TOTALINVESTMENTS £ 193,176 £ 181,160

14

Notes forming part of the financial statements for the year ended 31 December 2024 cont'd

11 Current Assets 2024 2023
£ £
Gift Aid Tax Refund Due 1,507 1,524
Debtors
Prepayments/ Accrued Income 2,671 1,591
Bank Current Accounts 46,463 46,634
Bank Deposit Accounts
CoS Investment Fund Deposits 42,478 46,978
93,119 96,727
12 Current Liabilities
2024 2023
£ £
Accruals 3,725 1,824
Creditors (Falling due within one year) 2,938 3,560
6,663 5,384
13 Analysis of Net Assets Among Funds
General Designated Restricted Endowment Total
£ £ £ £ £
Fixed Assets 0
Investments 38,290 520 118,522 35,844 193,176
Current Assets 21,801 7,580 63,738 93,119
Current Liabilities 4,144 2,519 6,663
Netassetsat31Dec2024 55,947 8,100 179,741 35,844 279,632

14 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 theChurch. The areas of congregational life which rely on the contribution ofvolunteers are many and varied and muchofthe activity would be unable to continue were it not for the commitment shown.

15

’

.

Notes forming part of the financial statements for the year ended 31 December 2024 cont'd

15 Movements in Funds At 1 January Incoming Outgoing Revaluation At 31 Dec
2024 Resources Resources Transfers Investments 2024
£ £ £ £ £
Invested and Deposit Funds
General Fund (Investment) 37,943 346 38,289
Fabric Fund (Investment) 515 5 $20
Fabric Fund (Deposit) 4,500 (4,500) 0
42,958
(4,500)
35]
38,809
TTT
eee
Restricted Funds
Session Fund (Investment) 97,038 (2,000) 8,853 103,891
Session Fund (Deposit) 27,478 27,478
Restoration Fund (Deposit) 15,000 15,000
Apse Fund (Investment) 11,957 109 12,066
Dora Robertson (CoS Income Fund) 2,236 20 2,256
Town Mission (Investment) 307 3 310
154,016 (2,000) 8,985 161,001
ool
Endowment Funds
Music Fund(Investment) 31,164 4,680 35,844
228,138 (6,500) 14,016 235,654
Restricted Funds other
Manse (see Note 9) 400,000 (400,000) 0
Music Fund (Income) 1,939. 1,673 1,137 2,475
Session Fund 13,044 5,877 6,896 2,000 14,025
Restoration Fund 1,677 1,236 1,390 1,523
Minor Fiduciary Accounts 686 122 91 717
417,346 8,908 9,514 (398,000) 0 18,740
Unrestricted funds other
General Fund 20,026 58,924 65,793 4,500 17,657
Designated Fabric Fund 6,993 5,305 4,717 7,581
27,019 64,229 70,510 4,500 0 25,238
TOTAL FUNDS 672,503
73,137
80,024
(400,000)
14,016
279,632
aaEaEaEaEeaeaeaoaeaEaeaoaoaoEaeaoEeEeee—————
eee
eee
Summarised by Fund :
Total Endowment Funds
Total Restricted Funds:-
Music Fund: Income Reserve 1,939 1,673 1,137 2,475
Session Fund 137,560 5,877 6,896 8,853 145,394
Restoration Fund 16,677 1,236 1,390 16,523
Apse Fund 11,957 109 12,066
Total Minor Fiduciary Funds 3.229 122 91 23 3,283
Manse Fund 400,000 (400,000) 0
Total Unrestricted Funds
General Fund 57,969 58,924 65,793 4,500 346 55,946
Designated Fabric Fund 12,008 5,305 4,717 (4,500) 5 8,101
70,510 64,047
TOTAL FUNDS 672,503
73,137
80,024
(400,000)
14,016
279,632
aaaEaEaEoaEoaoaEoaEoaEaEaElEE————E—E——————————————————
eee

Purposes of Endowment Funds Music Fund (capital): Dr Fredick R Lucas Bequest (1955/1962) - capital to be maintained fully

Purposes of Restricted Funds

Music Fund (income reserve): Dr Fredick R Lucas Bequest (1955/1962) - the income applied entirely in the music of the Church

Session Fund: Dr James Renton Bequest (1868/1873) - a trust for the poor of the Town, the Kirk Session appointed trustees

Restoration Fund 2005. To be used for the Restoration Project for the Fabric of the Church

Apse Fund : To be used for ongomg Maintenance

Dora Robertson Memonal Fund to be used to assist with the education of young people in the congregation

Town Mission Fund: - to assist the young people's Anchor group

Purposes of Designated Funds Fabric Fund: The Trustees have set aside funds for the maintenance ofthe church property

16

Notes forming part of the financial statements for the year ended 31 December 2024

16 Collections for Third Parties
2024 2023
£ £
Earthquake Appeal 635
Christian Aid 656 1,146
Poppy Scotland 189 193
Bethany Christian Trust 1,000
MacMillan Cancer Support 1,019
Gaza Appeal 622
Christian Aid Christmas Appeal 700
3,564 2,596
APPENDIX
FUNDS HELD ON BEHALF OF THE CONGREGATION
BY THE CHURCH OF SCOTLAND GENERAL TRUSTEES
2024 2023
£ =
Capital Account
Credit Balance held at 31 December (Cost £23,360)
(Invested in 23,360 consolidated Fabric Fund Units)
Market Value as at
 January 32,516
Valuation Increase (Decrease) during year 1,616 (2,380)
Market Value as at 31 December 2024 34,192 32,576
Revenue Account
Revenue Balance held at
 January 11,070
Add:
Interest Received on Revenue Balance		 450 49]
Dividends on Capital Account Units 1,251 1,042
Administration Charges (98) (21)
Fabric Costs Paid (see Note 5) (10,820) (4,534)
Revenue Balance held at 31 December 2024 1,853 11,070
TEMPORARY ACCOUNT £
CreditBalanceat31stDecember2024 $00,412

Li