lthnross-shlrt Parish Churth of Scotland Report of the Trustees For the year ended 31 December2024 Kinross-shire Parish Church of Scotland formerly Orwell and Portmoak Parish Church of Scotland Congregation Number: 281773 -fornierly 281680 Scottish Charity Number: SC015523 Report and financial statements forthe year ended 31 December 2024
nross-shire pèrish chh of Scotland Report of the Trustees (¢ontinuedl Forthe year ended 31 December 2024 Table ofcontents Trustees, Annual Report... Objectives and Activitie%...-.. Achievements8nd Performance..- Financial review.. Investment Policy and Performance.. Risk Management.....-... Re5eNes Policy......-. Strueture, governance and management...... Reference and administrative information.... Independent Examinerfs report. Statement of Financial Activities.......-. Balance SheetAt 31 December 2024... Accounting Policies..-..-. Notes to the Accounts.... APPENDIX....- .10 .11 .12 .13 .15 .22 2122
lfjnr055-shire Parlsh Churth of Scotland Report of the Trustees Itontinuedl For the year ended 31 December 2024 Trustees, Annual Re 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 on page 13 and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee InvÈstment Iscotlandl Act 2005, the Charities Actounts15¢otlandl Regulations 2006 las amended) and Accounting and Reporting by Charities.. Statement of Recommended Prathce applicable to charities preparing their accounts in accordan with the Financial Reporting Standard Applicable in the UK and Republic of Ireland published on 16 July 2014. Objectives and Activitie5 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 Chrisys Kingdom throughout the world. As a national Church. it acknowledges a disknnctive call and duty to bring the ordinances of religion to the people in every Parish of Scotland through a territorial ministry. It ctroperates with other Churches in various ecumenical bodies in Scgtland and beyond. The trustees practice these objertive5 through our own Mission Statement. Worshipping God, Procloirninp Christ ond Serving the Community in the following ways- the provlsion of Sunday Worshlp, the provision of the Sacrament of Communion at least quarterly in public worship and other time5 at the Session's discretion; the regular provision of the Sacrament of Baptism: the teaching of primary school age children in Jurbior Church Sunday mornings. Messy Church held at Orwell Church each month, our support of KHE and contact with the local schools in our area; the provision of adult education in small groups: the provision of music for the services by our organist who also leads the praise band (church choirl,. the provision of care and attention for the elderly through the work of our Pastoral Team with annual ofternoon Communion Service and Eatherings at Orwell Church, alongside monthly services at the Care Home for the elderly in the Parish- flower5 from Services are taken each week to homes in the Parish: the minister, pastoral workers and others vi51t those in hospital: Oasis, a monthly ladies. meeting- and the provision of Local CommLJnity Events. Stramash, our Parish Magazine, is produced and distributed to every home in the Parish three times a year, costs being covered mostly by advertising. The congregation c(Foperates with other local churches throughout Kinross.shire. We are delighted to continue to have the sUPPOrt and ministry of the Reverend Robert Calvert as our locum minister. We are facing a time of great change due to the lack of Parish Ministers and financial pressures across the Church of Scotland. We can no longer call a minister to the charge of Orwell and Portmoak as the three Inross Parishes will be reduced to two full-time ministries. The Presbytery Mission Plan has now been approved by the General Trustees. The session derks and ministers of the Kinross-shire parishes have held several meelings throughout the past two year to discu55 the best way to move forward in the proposed Kinross-shire Network. There has also been a Vision Group appointed to oversee the coming changes and to plan and work towards the union of the Kinmss-shire churches. Over the lasl six months this work has moved forward with speed. It is hoped that in January 2025 the churches of Orwell and Portmoak, Clelsh, Fossoway and Kinross will unite to form Kinross-shire Parish Church. There will be three permanent places of worship.. Fossoway, Kinrgss and Orwell in the united charge. The church used and occupieLI by the congregation at Portmoak shall be sold. The proceeds of the sale will be credited to the benefit of the united congregarion in Kinross-shire Parish Church. Services shall be conducted in Fossoway Church, Orwell Church and Kinross Parish Church each Sunday at times to be decided by the Ministers and Kirk Session. Until the Sale of Portmoak Church and Cleish Church is complete they shall be used as additional places of worship for the united ¢ongregath)n or) dates and at times to be decided by the Minister5 and Kirk Se55ion. The elders of all four Kirk Sessions will form with the Ministers within the Team Ministry the Kirk Session of the united charge. The ministry in Kinr055-shire Parish Church shall be supplied by a Team Ministry. The Kinross-shire Team Ministry shall be comprised of the following members- Two full-time ministers of Word and Sacrament as Page3122
Inr055-shlre Parish Chur¢h of Scotland Report of the Trustees (continued} For the year ertded 31 December 2024 agreed in the Presbytery Mission Plan, a locally-funded part-time associate minister, a full-time youth minister working in conjunction with KYfHE IKinr05s-shire Youth Enterprisel- The Seeds of Growth fund will provide funds for this youth ministry for the next three years. At Orwell and Portmoak we are keen to move foThvard with the change required to allow us to build a secure and positive future for God's work here in Kinross-shire. We have two working parties who form part of lal The Vision Group and Ibl the sale of the church building at Portmoak. The proposed closure and sale of the Portmoak Church building was brought to a meeting of the congregation last December for discussion and a vote for c105ure. It is with much sadness that we take this step as there has been a place of Christian worship in Portmoak for more than a thousand years. In November and December, we held an exhibition in Portmoak Church to highlight the important part Portmoak has played down through the ages in the spreading of The Word. We expect to go into full union on the 1° January 2025. Achievements and Performance We endeavour to take a caring, lovin& and positive message to our community. In practfjce, this means playing our part in the community, being a gc)od neighbour. working with the young, the elderly and those in between, supporting charitres and helping those in need. We plan to cOnnue to provide a posttrve example of God's love and care within our communities. We welcome and treat everyone equally. We are inclusive of and encouraging toward5 families wtth children. and hope they feel particularly welcome and relaxed in our midst. We had 43 children and their parents attend our Messy Church ihis December. We look for opportunities to put our words into attion and we trust our union with Kinross. aeish and F0550way will make us stronger as we move forward in fatth. As a church family, we work to build up one another in love, reach out with the Good News of Jesus Christ to the parish in which we live, and contribute to God's work in Scotland and beyond. We try to put Christian worship. fellowship. and service at the heart of everyday life. Our services follow a somewhat tradibonal format while encouraging members of the congregation to become invofved through participation in the reading of the Word and Prayers of Intercession. We welcome our members to come fonmard to play an active role in our worship. We hold a joint, all-age service on the first Sunday of the month in 0ell Church. These services are led by Membe of the Congregation with a strong emphasis on encouraging our young people to take p2rt. The services at Orwell are all recorded for screening online. Junior Church continues to run in both Orwell and Portmoak, but our number5 are lower than we would hope however, we sli51 have children at all our services. Messy Church continues to be well attended and it is n area which could be developed further when we come together as one church in Kinross-5hire. This December we held our first joint Messy Church to celebrate our Saviour's birth. The Sacrament of Holy Communion is held quarterly in both churches. We also hold an afternoon service of Communion for the elderly members who Quire supportto attend. Special services were held at Easter, HaeSt Thanksgivin& Remembrance Sunday, and Christmas. We also held a "Bereavemenv, Service in March where the community could come together to remember their loss, this servlce was very well attended. There were 3 baptisms, 2 weddings and 9 funerals. 19 people were removed from the roll by death and 2 by tran5terence. The average Sunday morning attendance has remained stable throughout the year. Our active elders have now all attended Safeguarding training. The defibrillator purchased and placed outside Orwell hall has been used, funds were donated to cover consumable costs. In February, we held a Network Conference where elders across all four churches came together for discussion and worship. In August. members of Glen Crai8 Gospel Hall held a two-week mission in Portmoak Church. The services were led by members of the Portmoak communty and on every evening the church was filled I In November, we held our Christmas Fair. This proved to be a very successful event, and 50% of the funds raised were added to the other collections to support the 8ible Socie$ work in the Ukraine. "Tea and a Blethert, Oasis, the Guild Fellowship Group and Knitwits all continue to flourish with excellent attendance at all meetin85. We continue to support our local foodbank "Broke not Broken" by donations of 4122
Klnross-shire Parish Church of Scotland Report of the TTUStee5 (continued) For the year ended 31 December 2024 food and special collections. We also provide support to KYfHE (local mlnstry/support to young people), our partner church in Malaw and many other chartties on rotation or as the need arises. A Ladies Bible Study Group meet on Wednesday aftemoons in Orwell Church. This open to all and is well attended. Our Church Office opens each momin8 and continues to run with a band of volunteers. There 15 Potential to use this resource more creatively and we will look at this as we move forward towards union with Kinross. A member of Session attend5 meetings of the Stronger Communities Network Group where ideas and information are shared to the benefit of our community acros5 Kinross-shire. Stramash, our Parish Newsletter, has continued to be distributed to every household in the Parish and is useful and well~received magazine. effertively bridging church and community. Sadly, our last copy of Stramash has been delivered but we look fonvard in anticipation to our new magazine following our union. We also have a Church Website and a preser on Facebook. All these medium5 have allowed us to keep in contact with the community and beyond. We continue to support KYTrIE based in °the HUW a drop-in centre for young people situated across the road from the local High School. This is a dynamic piece of joint church work which continues to grow with hundreds of young people attending KHE each month. This work 15 expanding across Kinross-shire with more youth and support workers in place. This work is especially important when many young people are struggling with the many difficulties facing our society and the world in general. However. we also need to look beyond this teenage group to younger members of our aduft society who also appear to struggle at this unsettled time. We hope that the appointment of a youth minister may help to us to begin to meet this need. Projects in partnership with the community continue to be rewarding. We attend meetings of "Kinross-5hire and Glenfarg Stronger Communrkne& This useful forum brin8S together the many agencies, tharities and talents that make up our diverse community. The Congregation continues to 5UPPOrt the missionary work of Loma Ferguson and her family, our Prayer Partners, in Japan. Our congregation Is twinned with the Mombwe Parish in Malawl. We contlnue to support them in their endeavours and growth. Their minister is Rev. Tuntufye. Local Churth Revlew After a considerable time °$naggin has now been completed in Orwell Church following our renovatlons. We give thanks to God for his faithfulne55 to us throughout thi5 year of immense change, and for the continuing ministry and friendship of the Rev. Robert Cafvert who has continued to lead us forward in faith especially when difficult deasions had to be made. We look forward to the future with optimism in the sure knoedge that God has a plan for His Church here in Kinross-shire. The charity has four properties (Orwell Church. Orwell Hall, Portmoak Church, an office in Milnathort and a very small strip of glebe land at Portmoak. The church and car park at Portmoak along with the small portion of glebe are about to be offered for sa. Ongoing repairs ané maintenance were carried out amounting in total to £33.088. Page5122
Kinross-shlre Parish thurch of Scotland Report of the Trustees Icontinuedl For the ar ended 31 De¢ember 2024 Financial review The Statement of Financial Activitres Ipage Iolshows totsl income of £128,93012023 £95,489). The notes on pages 14-15 supply greater detail. Offerings to the General Fund, including related gift aid taK Showed a welcome increase to £54.56612023 £54,141). The* make up 44.9% of our total general income £121.429 12023 £89,1741- Investments accounted for £13,35912023 £11,363) Il% of general income. A further 30% £36.597 12023 £9,484) was received from the income receNed in ConsolKlated Fabric Fund held by the General Trustees on our behalf. £20k of this contributed to larger than normal Maintenan costs, £gk paid for the sound system upgrade. The balance contributed to the insurance premium and fuel costs for the year. We received grdnts of £3,751, £1,500 from Perth and Kinross Council Wami Spaces project and £2,251 from Listed Building Place of Worship Scheme (VAT reclaimed from eligible property expenses). £1,750 w35 receTrJed from Benefart Trust towards the roof repair cost which has been reallocated to 2025 attounts when the work is likely to be started. The total payments in the period were £119,72412023 £83,056). Our payments from unrestricted funds during the year amounted to £114,674 {2023 £79.5241. Our largest single item in the year vlas property ex- penditure at £33,088 (2023 £3,741) followed by Giving to Grow and Locum Costs totalling £36.488. The final payments for the renovation project totalling £10.153 was made in 2024. This had been provided for in pre- viaus years accounts. Our surplu5 in unrestricted funds amounted to £6.75512023 surplus of £9,650 prior to inclusion of invest- ment income. There is a surplus in total funds of £9,206 {2023 surplu5 of £12.4331. Notes on pages 16.20 Supply useful information on the finances of the congregation. Investment Policy and Performance Funds beyond those required in the short to medium term are held in Investments at the Church of Scotland Investors Trust as detsiled in note 10. Any income from these contributes to the running cost of the Church. Risk Management The principal risks we face are ageing membership, Offi bearer5 and Kirk Session alongside reduced numbers and income. To try to reduce the impact of these we have Family servi5 and Messy Church to encourage additional younger members and families. Younger people are being encouraged into leadership roles and elder-5hip. Giving by standing order as a more reliable source of income is being encouraged and the acceptance of legacies ha5 been made known through variou5 mediums. If income should fall we would have to reassess our expenditure. Reserves Pollcy The charity trustees have considered the reserves required and have taken account of their current and future liabilities. It is the Trusteeg policy to hold at least 50% of annual expenditure in INuid reserves and at the end of the year the Church held unrestricted cash funds of £49.54912023 £40,5CQI which represented 50.8% of average normal charitable actiwty expenses. The balance of the reserves is in rnedium and long-term investments with Church of Scotland Investors Trust (£461,201 at market value in Unrestricted Funds). We also require reserves for the predictable major repairs for old buildings at unplanne(i times. Endowment reseNes of £17,890 at market value in long temi investments. The Church also holds invest- ments of £127,128 at market value in restricted funds which have been provided for the purposes specified in note 15 to the financial statements. 6/22
lanross-shlre Parish Church of Scotland Report of the Trustees l¢ontSnued) Forthe year ended 31 Dttember 2024 Structurep governance and management (a) Governing Document The congregation is a registered charity and is administered in accordance with the terms of the Deed of Constitithon Iunitsry Fomi} and is subjett to the Acts and Regulation5 of the General Assembly of the Church of Scotland. (bl Recruitment and appolntmerrt of Trustees Members of the Kirk Session are the chartty trustees. The Kirk Session members are the elders of the church and are chosen from those members of the church who are consldered to have the appropriate gifts and skills. The minister, a member of the KI Session. is elected by the congregation and inducted by Presbylery Ithe charge is currently vacantl. Icl Or8ani5ational Strndure The Kirk Session which meets at leasi four times a year is responsible for spiritual, pastoral. fabric and financial affairs wtthin the Church. There is a Business Commtttee with delegated powers which meets as necessary, and a Pastoral Committee, Mission and Social Committee, Finance Committee and Property Committee mtrt regularfy. These commtitee5 report directly to the Kirk Session. There are a150 Working Groups (formed as required and disbanded when their stated purpose has been fulfilled) reporting to the Session or to a Standing Committee. PaBe7122
Klnross-5hire Parish Church of Scotland Report of the Trustees l(mtinued) For the yearended 31 December 2024 Reference and administrative information Charity name: Orwell and Portmoak Parish Church of Scotland Congregation number.. 281773 Charity registration number. SC015523 Operational address: Trustees st Trustees appointed since year end (l Jan 2025) priorto approval of Trustees Report Principal Office Orwell Church Portmoak Church Inde endent Examiner Ba'hill. Milnathort, KV13 9YQ Scotlandiyell. Kinross, KY13 9HY Bankers The Royal Bank of Scotland plc, 52-54 East Port, Dunfermline, KY12 7HB 8122
Kinrosfrshlre Parish Church of Scotland Rpportofthe Trtee5 Icontinuedl For the year ended 31 December 2024 Trustee< Responsibilities in Relation to the Flnanclal Statements The charity trustees are responsible for preparing a trustee5' annual report and financial statement5 Ifb accordance wlth applicable law and United Kingdom Accountlng Standards (Untted Klngdam Generally Accepted Accouk)ting Practice). The law applicable to chartties in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair Mew of the state of affairs of the charity and of the incomlng resources and application of resources, of the charity for that period. In preparin8 the financial statements, the trustees are requId to: select suitable accounting policies and then appty them consistently: observe the method and principles in the applicable Charitie5 50RP' make judgements and estimate5 that are reasonable and prudent: State whether applicable accounting standards and 5tstements of recommended practice have been fol- lowed, subjert to any departures disclosed and explained in the financlal statements; preparE the financlal statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operational existence. The trustees are responsible for keepin8 proper accountlng records whlch dlsdose wrth 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 {5cotlandl Act 2005 and the Charities Accounts {Scotlandl Regulations 2006 las amended). They are also sponsible for safe8uardin8 the assèts 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 inlegrity of the chartty and financial information on the con8regation's webstte. Legislation in the United Kln8dom 8oveming the prÈpararfon and disseminayon of financial statemenis may differ from legislation in other juri5dicbon5. Approved by the Trustees and signed on their behalf, Page9122
Klnr0s$4hire Partsh Church of Report ofihe Trustees {continued) For the year ended 31 December 2024 Inde endent Examiner's re ort Independent Examlnerfs report to the Trustees of Orwell and Portmoak Parish Church Year ended 31" December Z024 I report on the accounts of the tharity for the year ended 31 Dember 2024 which are set out on pages 10 to 20. Respecdvé respon5iblllties of trustees and examlner The charltrf5 trustees are responsible for the preparation of the aecounts ID accordan with the terms of the Charities and Trustee Investment Iscoiland) Art 2tyJ5 and the Charities Accounts (Scotland) Regulatlons 2]6 las amendedl. The charity trustees consider that the audit reqU1ment of Regulation 1011) lal to (c} of the Accounts Regu- lations does not appty. It is my responsibility to examine the accounts as required under section 44111 Icl of the Act and to state whether particular matters have come to my attention. Basi5 of Independent examinerfs statement My examination is carried ovt in accordanee with Regulation 11 of the Charitle5 Accuunts (Scotlandl Regula- tions 2LXJ6 las amended). 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 un- usual items or disclosures In the accounts and seeks explanations from the trustees concernln8 any such matters. The procedure5 undertaken do not provide all the evidence that would be required in an audil, and consequently I do not expres5 an audit opinK)n on the vieiv gfven by the accounts. Independent examlnerfs statement In the course of my examination, no matter has Come to my attention i. whlch gives me reasonable cause to believe that in any material SpeCt the requirements: to keep accounting record5 in accordance with Section 44(1) (a) of the 2005 Act and Regulatbon 4 of the 2006 Accounts Regulations (as amendedl. and to prepare accounts whith accord with the accounting records and wmply with Regulalion 8 of the 2(J)6 Accounts Regulations las amended) have not been met. or 2. to which, In my opinion, attention should be drawn in order to enable a proper understanding of the ac- counts to be reached. 10122
Orwell andPffttwk PdrL5hfthurth cfScthrKI Aeportof theTnEe$ FLYtheye¥ endpd31 0Écemr2024 Staiernpnt of Nnancial Acti¥e$ NotE Unrestrthd . Restrfcied Fu5 2024 2024 Tot•11024 Unre5trirted Rettricted Funds 2023 Endowrnent Fun45 2023 T0ts12023 FJ*ts2024 DonatrDA% and le Ch3rrtsb.e acUviOÈs Ir.veents Other Tow Incorne Expenditure Rai%iw FJnd5 Ch3firablo a¢YYffjes Total E¥pendltUfe Netinwtrflexpenditwe efore rnovements in Irlfer5 betweei lund5 NEt Come peThfrture Ilosse5lon Inv&tmerts Net¢wvement Fu$ £5¥66 £13,156 ,359 £40349 UA79 £SÈJg8 £13.L$6 £16025 £4OJ48 4.141 £2,882 £0 £0 £336 Éo E536 £57,023 £11639 El4.1 £11736 £D £379 £11,363 £0 .122 £0 £519 È379 9.174 £) £114,674, £474 £$.755 £0 £0 £119.724 E119.724 £0 £T9524 E79.524 £9,650 £0 £0 £83,056 £83,LI56 £12.4aS E5 £0 EO E1532 £Z.447 £0 EL78S .E375 410,372 4720 £10,708 £13.155 £3,569 £21.724 -£336 £0 (9206 £46062 E5%668 £33 61 421 El0.9 1.625 £1.20S £1,206 £38,511 £50,944 £14OJ4 TotalFuids brou .rfot¥fdrd Total fuits cariied forward M¢veMentin F d5 E46&828 £SC9.329 £42.501 £123.923 £5 £IL625 E16.148 £6TrK99 £662.757 £55,668 £438.814 £456 28 ÉZ8.014 £102,199 £123.9Z3 £11,724 607,(9 £5D.944 LS £1.206 Pagell122
Inr05>shire Parish thurth of Stotland Report of the Trustees (continued For the year ended 31 Derember 2024 Balance Sheet At 31 December 2024 Notes Total Funds 2024 Prior Year 2023 Fixed Assets Tangible Asset5 Investwnent Total Fixed Assets Cuyrent Assets Debtors Bank & Cash Balances Total Current Assets Liabilitie5 Creditors falling due within one year NÈt Current Assets Creditors falling due after more than one Net Assets The Funds of the charity Endowment Funds Restricted Income Funds Unrestricied income fund5 Total charity funds £0 £606,219 £006.219 £0 £559,757 £559,757 £1.7LO £57,852 £59,562 £3,785 £59,257 £63,042 io li -£3.014 £56,548 £0 £662,767 -£15,700 £47,342 £0 £607,099 ear £17,890 £135,548 £509,329 £662,767 £16,348 £123,9231 £466,828 £607,099 Investments at Market Value Cost of Investrnents £606,219 £365,599 £559,757 £365,599 The ac¢ounts were approved by the Klrk Session on_ For and on behalf of the Kirk Session Page 12 of 22
Kinross4hir* Parish Church of Swvand Report of the TrLtstèes Icontinued For the year ended 31 December 2024 Accountin Policies The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with r(ems which are considered material to the accounts. are set out below. Basis of preparation The financial statements have been prepared in accordance with Accountin8 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 IFR5102) issued on 16 July 2014 and the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021, the Charwlies and Trustee Investment {Scotland) Act 2005 and the Charities accounts Iscotlandl Regulations 2006 las amended) Fund accountlng Funds are classified as either restricted funds or unstriCted fund5. defined as follows. Restricted funds are 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 fund5 have been given OD the conditron that the original capital sum is not reduced, but the income there from is used for the purpose defined in accordance with the objects of the charity. Unrestricted funds are expendable at the discretton 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 éesignated 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 Income is recognised when the charity has entitlement to the funds. any perfomiance Conditions attached ta the fcemlsl of income have been met, tt is probable that the income will be received, and the amount can be measured reliably. Donated services and facilitles Donated professional serwces and donated faciltbes are recognised as income when the charity has control over the item, any cor)ditions 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 Chariiies SORP IFRS1021 the general volunteer time of congregation members is not recognised. On receipt. donated profe55ional SeiCe5 and donated facilities are reco8nised on the basis of the value of the gift to the charity which is the arnount the charity would have been willing to pay to obtain services or facilthes of equivalent economic benefit on the open market,. a corresponding amount is then recognised as expenditure in the period of receipt. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this 15 normally upon notification of the interest paid or payable by the Bank. Fixed Assets The charity has the right to occupy and use for its charitsble objects certain tangible fixed assets, including the Church, halls and manse. vested in the Church of Scodand General Trustees. No consideration is payable for the use of these assets. Expendtture incurred on the repair and MaIntenan of these assets is charged as resources expended in the Statement of Financial Activities in the period in which the liability &rises. Investments Page 13 of 22
Klnr055-shire Parish Churth of Scotland Report of the Tru#ees Icontinuedl For the year ènded 31 December 2024 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 ihe end of the year. Realised gains and losses represent the difference betsveen the proceeds on disposal and the market value at the start of the year or cost if purchased in the year. Taxation Orwell and Portmoak Parlsh Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subjert to taxation on its charitable aciivities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT. Page Id of 22
Klrrfos%4hlre Par¥h fhur<h*fs(1lla Rewrtof theTru51qeslronthuo&J FofihEye4iendEd310•r¢thr2024 Notes to the Accounts Totsl Donatlr•N 141¢ OfferfnE5 Tax recovered on &ftA (ie5 TDtsI £44,783 ¥368 EO £48XI 42,757 12503 £3 Eo E2882 £0 £45260 £9.763 E2,mO £57.O23 £0 £0 £0 £0 IncoMefrthThcF¢ritaè&cb1Es use of prem Office 5ale5 WEddill854nd FureTr Fund-tttsin Èvenrs A£gazir,eAdverti Othe-l Income TDtsI e8.452 £246 £J9S £L359 . £0 £0 £0 £0 £0 £0 £0 fo £0 £0 £8A52 £246 £195 £L359 fl, £5,686 £571 £1 75 £874 £0 £0 £0 £0 £0 £0 f5,686 ES71 £IM75 £1 79 £2828 £iOD 1639 £0 £1 £13.156 £705 InVemeTht Income Dfviden¢5 De 05rt bank Inrere T(tal £12,2•15 £1.114 £13.359 £a É15314 £J.I no,& £7 £1¥363 £2391 £1 E¥92 £133B5 £706 4,091 £D £0 £536 E379 Other IrKomÈ Recei tsfrurn CFF Grants R[wed Total £361 £0 £c £0 £367 £3.7SI £9.484 £1252 £12 736 EO 0.348 Totsl Inrome £7. .17 £S.979 36 E95.489 Patr 15 OF22
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KIn1rS1rep1£hUrth RQpfyttheTe¢S1¢¢kne) FortheyearededJl D¢LwThber2TrZ4 13. V0eelS In common with-11 conveDYcrts oflhe ofS(oY¥nd teneffts c(rtritython made by vdunteers who theirtime and LEnts wllllwWfor the benefft & the Church. Thé arèasofc1rQtX1 lrfe rth Dn thets%)tributA ofydunteer5 are maryand varfed and ofrF 8thVitY WQLld bp uDab'.ew corrirueWerettnlcrthÈcrnrnMentshn. 14. Movement in Funds Move]ncnt KnFund52024 Atl'j At31'De¢ untestrfcted Fund$ £46668 £2 £466J28 £12Q.M2 £1.087 4113,L47 11,527 U4.674 £33961 £0 ÉYJ61 £509,OR5 £304 ÉSQ9.a29 Jun1orand M rotsl Chuich £¥785 Re4trlaed Fwd5 efibrillator Flower Fund MÈcKelviÈTrust Fund Mombwe Fund OPBF OPGF Pastornl fJnd £708 £310 E67.844 182 £24,26 £1.033 £625 £27.961 , £0 £0 £0 £6,185 £0 £708 £246 £73 Iz £206 £26.746 £LD £508 £30599 E155,5q8 £0 rJ8 £1 £1516 É4.224 £S25 EO Egi l475 -£175 -£10 £0 £0 £1638 £10.959 Totol Endvwrnfjnt Funds uhèr NGaihiesoD Fu 5mhhFlQL Total £1,394 £14354 É16J48 £3Z £a47 L179 £0 £0 £0 £1525 -Q47 li £17, Tol*l Funly2b24 £IW30 4119.724 462 £662.767 19of22
r9S1r Porsh oFSt•iJ RVitotth•Tru5tees Fthe eaded JIDener11ll4 MovtmeDt UL FllnOs23 At I"Jan A131°D¢c unrtr1rtRd Fsmds Genernl Fund JuniDrand Me55 Totsl £4a8,746. n,298 -£1.226 -£7924 E28.73G £0 £736 £46G568 £2 £A66I2& Church £438014 £8>J14 Restricd Fwd5 CHIMF FL.1d Def,b".iiior rioworFund M¥211TrUst Fur.d Mombwe Fund QPBF OPGF pasto1 Fur Fund 4LI,W EO £11358 EO ÉD £0 £0 £708 £309 £67,845 £62507 4674 £L3 -£175 £4,37 £22,299 £13 £0 Éo £466 £0 £625 £576 -É£75 r24.260 £1.033 £625 £27961 £0 EO Éo £2,062 Total .iiiiii £lQ2Jg9 SJ79 69 J2J.923 owrnent Funds uh3rmathiesonco1thu Fund Smith Floodll Total £1.291. ,851 £28 £103 EI,103 £1, fl,394 £14,9S4 £1$348 £0 T4tolFkttth 2023 £SSAIS5 £6fr7,099 P88e201*22
Kinross4hÉre Parish Churth of Scotland Report of the Trustees Icontinuedl For the year ended 31 December 2024 15. Purpose of Funds Purpose of Deslgnated Funds Junior and Me55y Church Fund:This fund receives offerings from the Junior church and Messy Church for the work in the Parish and beyond. Purpose of Restrirted Funds Defibrillator Fund.. This fund is to be used for the ongoing rnaintenan of the Defibrillator installed at Orwell Hall in 2023. This fund receNes donations for the purchase of plants and flower5 for display durlng worship and to give to members and parishioners on special occasions. This fund 15 administered by the Kirk Session to be used for the benefit of the former Parish of Portmoak and for the church. 50% of the income is transferred annually to the General Fund and the balance available for the communitywthin the former Parish of Portmoak. Mombwe Fund This fund receives donations for our twinned congregation in Malawi. Orwell Parish Benevolent Fund: This fund is under the control of the Kirk Session to pmvide aid to residents of the fom)er Parish of Orwell and members of the corsgregation who are in need. This fund is administered by the Kirk Session for the maintenaftce of certain graves. Contain5 funds donated Specifical for Pastoral use. This fvnd is administered by the Kirk Ses5iOll to be used to a15t with the maintenance and upkeep of Portmoak Church. The income from the fund this fund is transferred annually to the General Fund. Flower Fund: MacKelvie Trust Fund: Orwell Parish Grave Fund: Pastoral Fund: PhS1ip Fund: Purpose of Endowment Funds F. Mathieson Collèction Fund: The income from this fund is allocated directly to the General Fund under the terms of the legacy. The income from this fund is to meet the electricity and repair costs of the thurch floodlights. It is transferred annualty to the General Fund. Smith Floodlighting Fund: Funds closed durin8 2023= Guild Fund due to their disbandment and CHIMPS fvnd as there is a zero balance. 16. Third party offerings sent to elPIents 2024 2023 Broke not Broken Bethany Chrisknan Trust Christian Aid Kinross Day Centre KVG HE Mercy Ships OMF internotional Poppy Scotland Salvation Army Scothsh Blble Society Blythswood Shelter Scotland Kinr055 First Responders Traidcraft Indian Village Ministry CHAS Total £0 £0 £744 £129 £136 £0 £302 £690 £90 £100 £549 £106 £0 £210 £0 £103 £109 £3,268 £271 £77 £397 £0 EO £0 £852 £155 £81 £125 £0 £85 EO £117 £0 £0 £2,244 Page 21of 22
Kinross4hlrÈ Parish Church of Scotland Report of the Trustees Icontinuedl For the year ended 31 December 2024 APPENDIX FUNDS HELD ON BEHALF OF THE CONGREGATION BY: THE CHURCH OF SCOTLAND GENERAL TRUSTEES- CONSOUDATED FABRIC FUND 2023 2024 CAPITAL ACCOUNT Credit balances at 31. December 2024. cost Credit balances at 31° December 2024, market value Revenue Fund Credit Balance at 31- December 2024, cost £420,510 £489,220 £447,575 £495.895 £12.274 £2,824 TEMPORARY ACCOUNT Credit balances at 31" December £0 £0 Revenue Fund Withdfawn in year to contribute to insurance. energy and propertycosts Capital Fund Withdrawn in year to contribute to prope £9,330 £9,485 costs £29,010 £0 Page 22 of 22