The Church of Scotland Fairmilehead Parish Church of Scotland, Edinburgh TRUSTEES. REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2025 Congregation No: 000010033 Registered Charity No: SC015967
Faimiilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report Year ended 31 December 2025 The Trustees present the annual report and financial statements of Faimilehead Parish Church of Scotland, Edinburgh for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies and comply with the General Assembly Regulations for Congregational Finance, the Charities and Trustee Investment (Scotland) Act 2005, the Charstie5 Accounts (Scotland) Regulations 2006 las 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 wblished in October 2019. Ob'ectives and Actlvltles The Church of Scotland is Trinitarian in doctrine, Refomied 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. We hold one Sunday moming service, at 10.30am. Th8re continues to be an increase in the number of families with young children attending worship The first twenty five minutes of worship are all-age with a focus on our growing number of children. Our Young Church and Creche numbers have also continued to grow, with a Sunday Club continuing to operate for the older children. Tea, coffee and fellowship lakes place after Sunday morning worship in one of our halls and is well attended. Worship through music is18d by our Organists and Praise Band who offer a blend of traditional and contemporary music to meet the needs of a varied age group of worshippers. PowerPoint is used for church intimations and hymn singing. During the Summer, worship moves away from the Lectionary and follows a Sermon theme. The Sacrament ofcommunion is celebrated moiithly on the first Sunday ofeach month. At least on6 of the Communion services is for all ages. The Minister meets with all families who enquire about baptism. Sunday services have also been shared or led by the worship team made up of Elders who have undergone Presbytery training. Rev. Dr. John Young, now a member of our church, also supports the Minister with seNices when required. Midweek worship is offered monthly on a Thursday. This is a shorter service ofmusic and meditation which also attracts those who would not nomally attend a church seNice. An outreach serviGe is held weekly on a Thursday, for parents, grandparents and toddlers. This includes a short time of prayer, and is led by the Minister and volunteer Elders. During Holy Week. reflective services are held on the Wednesday and Thursday evenings, with a short service also being held at noon on Good Fnday. Maundy Thursday is an Ecumenical Service with St Fillan's Episcopal Church in BuGkstone. September worship focuses on Creation and the care of our world. Remembran Services are held in November, one of which is a youth service for all of our Uniformed Organisations. A service for Ihose who find Christmas dfficult is held in Décember for all those in our Parish. A Lenten Bible Study is held during Lent. A monthly Prayer Diary is offered as a hard copy within worship and is also available on our website. The church halls are an important asset and meeting place for the surrounding community. Many groups are available for the congregation and others to join including the Guild, our church led book club, our Fairniile project for the isolaled, our church knitting group and the uniformed organisations. The halls are also used by the surrounding community.
Fairmilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report Icontinued) Year ended 31 December 2025 Achievements and Perforniance The Minister, members of the Kirk Session and its Committees continue to meet the spiritual needs of the congregation through worship, study groups, and social and fellowship events. Members of the Pastoral Care Group assist the Minister by visiting members of the congregation, either at home or in hospital, who find it difficult to attend Church services. Sunday deliveries of flowers from the sanctuary continue. The Church's magazine 'Crossroads' is published twice yearly. Our outreach through Facebook ontinues to increase, and our presence as a church communty is growing slowly also on Instagram. The bi-monlhly newsletter for members of the Congregation has been replaced with a monthly newsletter and prayer diary. Information is provided on the Church website, and banners and other publicity all continue to promote the ways in which the work of the Church to the congregation and wider community continues. The Church is the people, not the building. Our Minister continues in her role as School Chaplain al the local primary school, Buckstoie Primary. She leads school assemblies and holds the Good Samaritan Award, which she introduced and is now part of the school calendar. The Minister also takes part in other school events. The primary school children attended our church for a ChristmasAssembly in December2025. The Minister leads a Summer Holiday Club each year, supported by a team of Elders and volunteers, for around 50 young pèople. Our Minister is a qualified Healthcare Chaplain and is a volunteer chaplain at Marie Curie Hospice, Edinburgh, visiting when families request a chaplain. The congregation continues to support Christian Aid and Mediterranean Hope. The donation point for the Baby Foodbank is permanently situated in our church centr8 foyer. Wtth rising heating bills and inflation this Foodbank collects foodstuffs particularly for young families. Eco m?tters continue to be taken fOard by our Property and Social and International Justice Committees. The weekly Faimiile Project run by church volunteers continues to offer fellowship to those who aré lonely or isolated. Our Pop-up café continues to thrive with members, visitors and those attending classes in the halls meeting for coffee. Children are most welcome., high chairs, toys and a play mat are available. There is no charJe for refreshments although donations are welcomed. This is an opportunity for the church lo reach beyond the congregation to the wider community. Our Nativity Grft Service in December donated new toys to families in need in Edinburgh via the Edinburgh Food Project. At Christmas our retiring collections gathered money for the Trussell Trust Food Bank and for Ciaran's House. Presbytery Plan 2022-2025 Discussions have continued throughout 2025 on the Congregation's respons8 to the Presbytery Plan, issued initially in December 2021. The current proposa5 is that Faimilehead will enter into Parish Grouping Wlth Greenbank and Morningside Parish Churches, with the other churches initially working towards forming a union. Ministers and Session Clerks have continued to meet to di5CUSS the way forward. During 2023, the Church of Scotland conducted an Asset Management Building Audit to assess whether the buildings currently used by the three congregations are fit for purpose and in good order. This determined that the sanctuary and church centre buildings at Fairmilehead are designated as category A- 'the right space in the right place"
Fairmilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report (continued) Year ended 31 December 2025 Financial Review As shown in the Balan Sheet on page 12 and detailed on page 23, total funds have increased over the year. The increase of £27,853 reflects an increase of £37,160 in restricted funds and a decrease of £9,307 in unrestricted funds. A main element of the increase in funds related to an unrestricted legacy of £28,125 received during the year. Part of the increase in funds is also due lo an increase of £5.249 in the market value of investments. Investment policy and performance are considered under'lnveslment Objectives and Performance against those Objectives. on page 6 As there is no intention or need to realise our holdings, this review reflects on figures excluding accumulated unrealised losses. The breakdown of funds, as depicted in the Movements in Funds on page 23, provides the following net movements over the year.. Incoming Resourc8S Investment gains Outgoing Resources Transfers Net Surplusl Deficit General Fund (deficit) Designated Funds surplus Unrestricted Funds {deficil) Restricted Funds surplus 191,349 202.630 11,281 685 9,307 37,160 38,105 Overall surplusllncrease in funds 27,853 Funds are further considered below. Unrestricted funds The general fund deficit of £11,281 is slightly higher than the budget figure of a £10,000 deficit. However, this was only achievèd due to the receipt of an unrestricted legacy of £28,125 during the year, Rental income fell around £15,000 below budget as efforts continue lo be made to replace the income from Swanston hall which was lost when the Council nursery moved out, with efforts to bring in a replament private nursery having been thwarted by a change in Local Authorilyfunding policy. Members, ordinary (unrestricted) offerings and related tax recovered continue to show a decline as the size of the Gongregation continues to fall. largely due to deaths of members. During 2024, the timing of the method used to reclaim tax from HMRC changed, which meant that the amount oftax laimed for 2024 was higher than for a normal year. The 2025 figure fell back to the normal level.
Fairmilehead Parish Church of Scotland, Edinburgh Trustses, Annual Report (continued) Year ended 31 December 2025 Restricted funds Restricted funds show income of £38,105 against expenses of £5,509 (page 11) with changes in individual funds detailed in Note 15 on page 23. The main changes in the funds are as listed.. The Manse Fund continues to attract favourable distributions, a rate of retum on investments of 5.050A. Members of the congregation continue to donate regularly to the Parish & Youth Ministry Fund. These monies are intended to cover the costs of a Parish Assistant and other outreach and related expenses. The Parish Assistant post was not filled during the year, and the Trustees are currently considering how best to approach the resourcing of outreach work in future. The fund has a substantial favourable balance which ensures the ability to continue to fund this activity as well as enabling us to explore further ministerial assistan. During the year an amount of £1,850 was received from Presbytery in relation to the North. Merchiston Fund. This funding is lo be used for mission purposes, to develop work in parishes andlor to highlight the work of the church in the local communities. The Trustees agreed to allocate this funding to the Parish and Youth Ministry Fund, and it is being used to contribLrte to outreach work within the parish. Risk Management The average age of the congregation continues to rise with a potential negative impact on ordinary givings. To partially mitigate against loss of donations we set up a contingency fund in 2018, a balance of £25.000 being lodged in the Chure,h of Scotland Investors Trust - Income Fund. This provie.ed income of 4.98 % overlhe year. The level of member£, donations is continually under review and appeals are made to members to review regulady the amount oftheir giving. Our Fundraising Committee has continued to organize events to raise funds lo assist in delivering the mission of the church. Following the successful conclusion of Ihe roof fund appeal, the Kirk Session is currently assessing priorities for the next major fundraising project. Funds raised so far are being held meantime in a restriGted fund, which will be renamed once the fundraising project is determined. The high use of our halls and running costs exposes our vulnerability to reductions in hall let inGome. It now appears unlikely that the Local ALrthority policy will allow us to let out one of our halls to private nursery. Efforts have been made to bring in replacement income, but these are taking some time. Consequently, rental income showed a reduction of around 100h compared with 2024. Reserves Policy It is the policy of the Trustees lo hold general reserves of a minimum of three months, general expenditure. At the year end the Church held available funds of £38,689 in general funds, equivalent to 2.32 months of budgeted general expenditure for 2026. The reduction in reserves cover from the position at the start of the year reflects the deficit on the General Fund. Had the church not received an unrestricted legacy of £28,125 during the year, the reduction in cover would have been significantly greater.
Fairmilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report (continued) Year ended 31 December 2025 Reserves Policy (continued) An amount of £31,218 was held at the year end in a fund designated to mitigate against reductions in the level of regular donations. In the event of further deficits arising in future years, the Kirk Session will consider drawing down all or part of this designated fund to supplement the balance in the General Fund. If the balance on this designated fund is included, the level of restricted funds held at 31 Decembér 2025 would equate to 4.19 months of budgeted general éxpenditure for 2026. The Church also held £770,967 of restricted funds at 31 December 2025 whiGh are held for the purposes specified in Note 15 on page 23. Investment Objectives and Performance against those Objectives Investment fixed assets are held in the Church of Scotland Investors Trust Income Fund which invests in a mix of govemment bonds and corporate bonds with a small exposure to shares. It is therefore a safer investment than the Growth Fund which invests mainly in a mix of shares with some investmeiits in corporate bonds and property. The Income Fund is an appropriate medium-tem investment which cUentlY offers a rate of income of around 50/0. Our holdings ¢omprise.' Cost Market value Restricted Funds Manse ProjectS-Parish & YoLrth Ministry, Boiler Replament Guild Designated Funds Contingen¢y for Loss of Donations 142,726 19,995 1,004 136,930 18,292 2,301 24,994 23,646 188,719 181,169 Since 20rl 5. the market value of our investment in the Income Fund has, as expected, ftuclualed betsveen unrealised gains and unrealised losses. Whilst the market value of the investments at 31 December 2025 remained below the cost, there is neilher the inlention nor the need to realise our investments in the short term. Théré is therefore no need to indude a provision for any potential loss in the accounts.
Fairmilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report (continued) Year ended 31 December 2025 structure Governance and Mana ement The congregation is a registered charity, number SC015967. and is administered in accordance with the terms of the Deed of Constitution {Unitary Forml and is subject to the Acts and Regulations of the General Assembly of the Church of Scotland. Members of the 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 gffts and skills. The minister, who is a member of the Kirk Session, is elected by the congregation and inducted by Presbytery. The Kirk Session, which normally meets five times per year, and al other times as necessary. is responsible for spiritual affairs within the church. Certain responsibilities are delegated to committees as appropriate. These Committees, including the Finance and Propety Committees, report directly to the Kirk Session. Reference and Administrative Infomiation Trustees Marilyn Aithie Neil Grant Muritsl Armstrong (died 27.10.251 Jane Hamilton Scott Arthur Anne Lambert Jana Bentley Fiona McGillivray Pamela Black Rev Cheryl McKellar-Young Fiona Bonar Annette Mackenzie Aileer, Brannan Rona Mackenzie Jean Broadwood (resigned 11.10.251 Ron MacPherson Maureen Carter Mary Marek Nicola Cuthbert Stan Marek Malcolm Cutt Jacquie Mather Fiona Dennistoun (resigned S.9.251 Erica Mathieson Helen Grant Carol Morwood Stuart Monro Douglas Pearson Lilian Rankine Katherine Shaw Ron Unwin Valerie Walke (resigned 2.3.251 Sandra Walton Linda Warman Duncan Wilson Norma Wilson
Fairmilehead Parish Church of Scotland, Edinburgh Trustees, Annual Report Icontinued Year ended 31 Decembar 2025 Principal Office-bearers Minister= Session Clerk.. Rev. Cheryl McKellar-Young Malcolm G Cutt Principal and Registered OITice Church Office 1 a Frogslon Road West Edinburgh EH10 7AA Charity Number.. SC015967 Website.. htt '.1fv4ww.fh c.or Independent Examiner Anne Campbell FCA Stripe Accountants Ltd 5 South Charlotte Slrpet Edinburgh EH2 4AN Bankers Royal Bank of Scotland West End Branch 142-144 Princes Street Edinburgh EH2 4EQ
Fairmilehead Parish Church of Scotland, Edinburgh Tru8to08' Annual Raport (continued Year ended 31 December 2025 Trustses. Res onsibilities in Relation to the Financial Statsments The chanty Trustees are re$ponsib18 for prepanng a trnstees, annual report and financial Statements in accordance with applicable law and United Kingdom AG¢ounling Standards (United Kingdom Generally Accepted Accountsng Pra&ice) The law applicable to charities in Scotland requirés the charity tnjstees to prepare financial statements for each financial year which show a true and fairview of the state of affalrs of th6 ¢harty and of the incoming resources and application of r8sourc8s, of the charity, for that period. In preparing those financial statements, the Trustees arp required to: select Suitable accounting 1cleS and th6n apply them consistenY', observe the rnethod and principles in the application of Charities SORP- make judgments and estimates that are reasonable and Fdent., slate whether applicable accounting $tsndards and statements of recommended practice have l)een followed, subject to any departures disclosed and explained in the financsal statements. prepare the financial statements on the going ¢on¢em basis, unless It is inappropn'ate to presume that the tharity will continue in operational existence. The Trustees are responsible for keepiro proper accounting records which disdose with reasonable accuracy at any time the financial position of the charity and to enable them lo ensure that the financial Statements comply with the Charitie$ and Truste¢ Invostment (Scotland) Act 2005 and the Charities A¢¢ounts (ScotlandTr Regulations 2006 las amendad}. They are also responsible for safeguarding the assets of Ihe charity and hence for laksng reasonable steps for the prevention and detection of fraud ard other iThegularities. The Trustees are responsible for the Maintenan and integiity of the charity and financtal informatron on the congregation's websrte. Legislation in the United Kingdom goveming the preparation and dissemination ot financial statements may der from legislation in other jurisdis'ons. Approved by the Trtee$ and signed on their behalf, Malcolm G Cutt Session Cleft* Data: 29 March 2026
Falrmilehead Parish Church of Scotland, Edinburgh Indopendent Examiner'8 Report to the TrustOO8 of Faimiilohaad Par18h Church of Scotland. Edinburgh Year ended 31 December 2025 SC015967 I report on the acUnts of the charrty for the year ended 31 Drnber 2025 whith are set out on pages 11 to 26. Respective responsibilities of Trustsos and Examingr The charity's Trustees are responsible for the preparation of the accounts in accordance wth the temis of the Charities and Trustee Investment (Scotlandl Act 2005 and Ihe Charities Accounts (Scotland) Regulations 21J)6 {as amend8dl. The charrty Trustees CorIder that the audit requirement of Regulation 10(1) {al to (c) of the 2006 Accounts Regulations dc)es not apply. It is my responsibility to examine the accounts as required under section 44{1) Icl ofthe Act and to state whether particular matters have come to my attention. Basis of IndgP9ndent Examinefs Statsmant My examination is carried out in accordance wth Regulats'on 11 of the Charities Ac¢ourrt$ {S¢otlandl Regulations 2006 (as amended). An examination indudes a review of the accountin9 records kept by the charity and a comparison of the accounts pre5entsd with those records. It also includes consideration of any unusual ttems or disclosures in the accounts. and seeks explanations from the trustees Conrning ony $u¢h matters. The procedures undertaken do not provtde all the evidence that would be required in an audrt, and consequently I do not express an audit opinion on the view given by the accounts. Independent Examin•V8 Statornent In the course of rny examination, no matter ha$ come to my attention which gives me reasonab cause to believe that in any material resped the uirements.. to keep accounting re¢ords in accordance with Sethon 4411) (a) of the 2005 Act and Regulation 4 of the 20C6 Accounts Regulations {a8 amended), and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations {a$ amended) have not been met, or to lCh, in my opinFon. attention should b8 drawn in ord8rto enable a WOFer understanding of the accounts to be reached. Name: Anne Campbell FCA Address: Stripe Accountsnts Ltd 5 South Charlotte Street Edinburgh EH2 4AN Date: 1 April 2026 io
Fairmilehead Parish Church of Scotland. Edinburgh Statement of Financial Actlvltles Year ended 31 December 2025 Unrestricted Restricted Funds Funds 2025 2025 Total 2025 Total 2024 Note Incomè from: Donations and legacies Charitable activities Other trading activities Investments Grants and other income 116,887 17,528 7,882 134,415 7,882 71,873 12,530 4,043 134,987 8,720 79,440 11.648 2,087 71,873 2,754 1,124 9,776 2,919 TOTAL INCOME 192,638 38,105 230,743 236,882 Expenditure on: Raising funds Charitable activities 202,630 5,509 208,139 207,173 TOTAL EXPENDITURE 202.630 5,509 208,139 207,173 Net {expendltureyincome before gains and losses on investmenls Net gaIn(lOsses) on investments Net lexpenditure)lincome {9,992} 685 {9,307} 32,596 4.564 37,160 22,61)4 5,249 27,853 29,709 1,591 31,300 10 Transfers between funds Net movement in funds 15 19,307) 37,160 27,853 31,300 Reconciliation of funds: Total funds brought forward Total funds carried forward 79,214 69,907 733,807 770,967 813021 840 874 781,721 813,021 15 The church has no recognised gains or losses other than the results for the year as set out above. All of the activities of the church are classed as continuing. The notes on pages 13 to 26 fomi part of the financial statements.
Fairmilehead Parish Church of Scotland, Edinburgh Balance Sheet At 31 December 2025 2025 2024 Note Fixed Assets Tangible Fixed assets Investments 500,500 181,169 681,669 500.500 175,920 676,420 10 Current Assets Debtors Deposits- Church of Scotland Bank and cash 11 5,785 17,544 41,788 119,412 166,985 33.018 91.721 142,283 Creditors Falling due within one year 12 7,780 5,682 Net Currènt Assats Net Assets 159,205 840,874 136,601 813,021 Unrestricted Funds General funds Designated funds 15 38,689 31,218 49,970 29,244 69,907 79,214 Rostricted Funds 15 770,967 840,874 733,807 813,021 Total Funds The accounts were approved by the Kirk Session on 29 March 2026. For and on behalf of the Kirk Session.. Session Clerk Trustee 12
Fairmilehead Parish Church of Scotland, Edlnburgh Accounting Policies Year ended 31 December 2025 The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items considered material to the accounts, are set out below. Basis of preparation The accounts have been prepared under the historical cost convention with rf(ems recognised at cost or transaction value unless otherwise stated in the relevant notes to Ihese accounts. The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charrties preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland {FRS 1021 issued in October 2019 and the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102), the Charities and Trustee Investment (Scotland j Act 2005 and the Charities Accounts {Scotland) Regulations 2006 (as amended). The charity constitutes a public benefil entity as defined by FRS 102. The Truslees consider that there are no material uncertainties about the charity's ability to rnntinue as a going concern. Fund accountlng Funds are classified as either restricted fvnds or unrestricted funds, defined as follows= Restricted funds are funds subjèct to specific requirements as to their use, but still within the wider objects of the charrty. The specific requirements as to use may either be declared by the donor or with the donor's authority, or be created through legal processes. Unrestricted funds are expendable at the discretion of the trustees in furtheran of the objects of the charity. If parts of the unrestricted funds are eamarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. Suth designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fund. 13
Fairmilehead Parlsh Church of Scotland, Edinburgh Accounting Policies (continued) Year ended 31 December 2025 Incoming resources All legacies, donations and gifts are included within incoming resources as either unrestricted or restricted funds, according to the terms under which the legacy or 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 harity where readily available. Investment income is included within incoming resources as either unreslricted or restricted funds, according to the classification of the funds to which the investments belong, and is brought into the accounts when entitlement to the income arises. Rental income is included within incoming resources as unrestricted funds and is brought into the accounts when entitlement to the income arises. Donated services Donated professional sernices and donated facilities are recognised as income when the charity has control over the item, any conditions 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 {FRS1021 the general volunteer time of congregation members is not reco9nised. Interest receivable Interest on funds held on deposit is included when receivable and the amount can bè measured reliably by the charity,. this is normally upon notrfication of the interest paid or payable by the Bank. Resources expended All expendilure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expend+ture. All costs have been directly attributable to one of the functional categories of resources expended on the SOFA. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Charitable expenditure comprises those costs incurred by the chartty in delivery of its activities and services. Cosls of raising funds are those Gosts incurred in attracting voluntary income. 14
Fairmilehead Parish Church of Scotland. Edinburgh Accounting Policies (continued Year ended 31 December 2025 Tangibl• fixed assets The Charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church and halls, vested in the Church of Scotland General Trustees. These assets have been excluded from the accounts. No consideration is payable for the use of these assets. Expenditure inCued on the repair and maintenance of these assets is charged as resources expended in the Statemenl of Financial Activities in the period in which the liability arises. The Manse, which is locally held, is included in these accounts at deemed cost derived from valuation. It was not considered necessary to obtain professional valuations of these bLtildings. The Trustees have based their valuations on their knowledge of local market condttions. Expenditure incurred on the repair and maintenance of all 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,oc having a value to the charity greater than one year, olher than those acquired for specific purposes, are capilalised. 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 8Stimated useful lives. The Ivcally-held buildings are not depreciated. The Trustees uonsider that these assets will. at worst, maintain their present values over time so that their estimate residual values will be no less than current valuations. Inv6strnents Investments are a fomi of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as al the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. The charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due lo wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. 15
Fairmilehead Parish Church of Scotland, Edinburgh Accounting Policies (continued Year ended 31 December 2025 Taxation Fairmilehead 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. Debtors Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid net of any discounts due. Creditors Creditors and provisions are recognised where the ¢harily has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions a normally recognised at their settlement amount after allowing for any discounts due. Financial instruments Financial instruments comprise financial assets and financial liabilities which are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial instruments are classified as 'basic" in accordance with FRS102 and are accounted for al dmortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied lo short-term receivables and payables, where the effect is immaterial. Financial assets comprise cash, trade debtors, other debtors and accrued income. Financial liabilities comprise bank overdrafl, trade creditors, other creditors and accruals. 16
Fairniilehead Parish Church of Scotland, Edinburgh Notes forniing part of the financlal statements for the èar ended 31 December 2025 Unrestricted Funds 2025 Restrlcted Funds Total Total 2025 2025 2024 Donations and Legacies Offerings Tax recovered on Gift Aid Legacies Other offerings, donations. etc. 72.005 16.167 28,125 590 116,887 14.082 2,946 86,087 19.113 28.125 1,090 134,415 85,679 26.547 20,000 2,761 134,987 500 17,528 Income from donatrons and legacies was £134,415 12024.. £134,987) of which £116,887 was unreslricled {2024. £119,905) and £17,528 was restricted12024'. £15,082) Income from charitable activities Cake s8le$, book sales, etc. 7882 8,720 8,720 7,882 Income from charitable activities was £7,88212024". £8,720} of which £- was unreslricled12024.' £-l and £7.882 was reslricled12024'. £8,720) Income from other tradlng a¢tivitioS Rent received 71,873 71,873 79,440 79,440 71,873 Income from other trading activities was £71.87312024'. £79,440) of which £71,873 was unrestricted12024.. £79,440) and £- was restricted12024'. £-1 Invtstrngnt income Deposit interest Dividends received 1.509 1,478 8,298 9,776 2,987 9,543 12,530 2,105 9,543 11,648 2,754 Total investment income was £12,53012024.' £11,648) of which £2,754 was unreslricled12024.' £2.0501 and £9,776 was reslricted12024.' £9,598) Grants and other Income Grants and other income 1,124 2.919 2,919 4,043 4,043 2,087 Inrne frorn other income and grants was £4,04312024." £2,087) of whh £1,124 was unrestricted12024'. £1,387) and £2,919 was reslricled {2024. £7001 17
Fairmilehead Parish Church of Scotland, Edinburgh Notes fomiing part of the financial statements (continued) for the ear ended 31 December 2025 Unrestricted Funds Restricted Funds Total Total 2025 2025 2025 2024 6 Analysis of Resources Expended Raising Funds Offering Envelopes Charilable Activities Giving to Grow contribution Presbytery Dues Expenses of ministry Ministerial assislance other salary costs Fabric repairs & maintenance 76,570 1,729 1.204 500 47,729 19,714 624 77,194 1,729 1,204 500 48,670 19,986 74.697 1,444 600 46.616 18,733 941 272 Fl;.11 Council Tax Other buildings costs Church Office expenses Organ & music other expense5 Depreciation 4,400 35,062 4,344 7,454 2,674 4,400 35,653 5,939 7,689 3,925 3,728 40,592 6,645 7,624 3,980 591 1,595 235 1,251 201,.780 5,509 206,889 206,003 Governance costs Independent Examination 1,250 202,630 1.250 208,139 1,170 207.173 5,509 Expenditure on raising funds wa$ £-12024.' £-} of which £- was unrestricted12024.. £-l and £- was restricted12024.. £-1. Expenditure on charitable activities was £208, 13912024.. £207,173) of which £202,630 was unreslricled12024'. £188,345) and £5,509 was reslricled12024'. £18,828). 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. 18
Fairmilehead Parish Church of Scotland, Edinburgh Notes forming part of the financlal statements (contlnued) for the year ended 31 December 2025 2025 2024 7 Stsff costs and numbers Salaries and wages Social security costs Pension costs Total 46,702 49,313 718 47,420 681 49,994 The cost of the use of agency staff for the year was £4,535 {2024.' £9971. No employee earned more than £60,000 (2024.. none). The average number of employees during the year, calculated on the basis of a head count, was as follows.. 2025 2024 Administration Music staff Premises maintenance The charity operates a defined Lontribution pension scheme on behalf of its employees. The pension charge represents contributions due from the charity and amounted to £718 {2024'. £681) in the year. At the year end an outstanding balan of£nil12024: £nil) was owed to Ihe scheme. Pension costs are wholly charged to unrestricted funds. All Church of Scolland congregitions contribute to the National Stipend Fund which bLhars 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 wrth the national stipend scale, which is related ta years of service. For the year under review the minimum stipend was £32,433 (2024. £31,642) and the maximum slipend (in the fifth and subsequent years) was £39.856 (2024.. £38,884}. 19
Fairmilehead Parish Church of Scotland, Edinburgh Notes formlng part of the financial statemonts (continuèd) for the year ended 31 December 2025 8 Trustee Remun8ratlon and Relaled Party Transactlons Rev. Cheryl McKellar-Young, Minister, received re-imbursement of expenses of £1,204 12024.. £1,344), comprising £960 travel expenses (2024.. £960) and £244 telephone allowan {2024. £3841 No other Trustee or a person related to a Trustee had any personal interest in any contract or transacts.on entered into by the charity during the year. During the year a total of £27,834 (including Gift Aid) was donated to the congregation by Trustees (2024.. £30,128). 9 Tangible Fixed Assets Herltable Artwork Totsl Cost At 1 January 2025 and 31 December 2025 500.500 5,550 506,050 AcCumlated Depre¢iation At 1 January 2025 Depreciation At 31 December 2025 5,550 5,550 5,550 5,550 Net Book value At 31 December 2024 At 31 December 2025 500,500 500,500 500,500 500,500 20
Faimiilehead Parish Church of Scotland. Edinburgh Notes forniing part of the financlal statements (continued) for the year ended 31 December 2025 10 Investments 2025 2024 Market value at 1 January Sale of investments Realised gains on investmenls Unrealised gain on investments Market value al 31 December 175.920 174,329 5,249 181,169 175920 Investments at cost 188,719 188,719 All investments are UK investments held in the Church of Scotland Income Fund. 11 Debtors 2025 2024 Gfft aid tax refund due Accrued income - hall rentsls Other debtors and prepayments 4,313 401 14.921 674 1,071 5,785 1,949 17,544 12 Creditors 2025 2024 Accrued charges and deferred income 7,780 5,682 21
Fairniilehead Parish Church of Scotland, Edinburgh Notes forming part of the financial statements (contlnued for the year ended 31 December 2025 13 Analysis of Net Assets Between Funds Unrestricted General Designated Rgstrictgd Total Fixed Assets Investments Net Current Assets Net assets at 31 Dec 2025 500,500 157,523 112,944 770,967 500,500 181,169 159,205 840,874 23.846 7.572 31,218 38,689 38,689 Unrgstricted Goneral Deslgnated Regtrlcted Total Fixed Assets Investments Net Current Assets Net assets at 31 Dec 2024 500,500 152,960 80,347 733,807 500,500 175,920 136,601 813,021 22,960 6,284 29,244 49,970 49,970 14 Voluntoers In common with all Congregations of the Church of Scotland, the congregation benefrts from the contribution made by volunteers who give tt1r 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 lo continue were it not for Ihe commitment shown. 22
Falnnilehead Parish Church of Scotland. Edinburgh Notes fomiing part of the financlal statements (continued} for the year ended 31 December 2025 15 Movements in Funds InvgSt- ment gainsl {losse8) 2025 Transfgrs bgtweon funds At1Jan 2025 Incoming Resources At 31 Dec 2025 Outyoing Resources Restrlcted funds Manse Fund Parish & Youth Ministry Fund Sunday Tealcoffee Fund Praise Group Fund Paslool Fund Boiler Replacement Fund Caerketton Upgrade Fund Toilet Refurbishment Fund Major Projects Fund Guild Fund 662,738 46,502 1,815 2,058 2,519 12,111 650 2.110 269 3,035 733.807 8,681 18,027 1,961 {8631 13,5021 3,967 265 674,523 61,292 3,776 2,058 2,461 12,858 650 2.110 8,032 3,207 770,967 (581 482 265 7,763 1,191 1.086 5.509 67 4,564 Unrestrlcted funds Designated funds Contingency for Loss of Donations Fund 29,244 1,289 685 31.218 General Fund 49,970 191,349 1202,6301 38,689 79,214 192 638 202,630 69,907 Total Fund¥ 813 021 230 743 208.139 840.874 23
Fairmilehead Parish Church of Scotland, Edinburgh Notes forming part of the financial ststements (continued) for the year ended 31 December 2025 15 Movements In Funds (contlnued Invest- ment gainsl Ilossesl 2024 Tiansfers between funds At1Jan 2024 Incoming Resources Outgoing Resources At 31 Dec 2024 Rgstricted funds Manse Fund Parish & Youth Ministry Fund Sunday Tealcoffee Fund Praise Group Fund Pastoral Fund Boiler Replacement Fund Caerketton Upgiade Fund Toilet Refurbishment Fund Major Projects Fund Roof Fund Guild Fund 653,607 37,434 3,226 2,058 1,545 11,548 850 2.110 137 1,711 3,326 717,352 8,512 13,993 2,118 1583} 15,0051 {3,5291 1,202 80 662,738 46,502 1,815 2,058 2,519 12.111 650 2.110 269 1,120 482 {1461 81 132 5,799 1,944 17,5101 2,055 20 200 200 3,035 733,807 Unrestricted funds Designaled funds Contingency for Loss of Donations Fund 27.743 1.293 208 29,244 General Fund 36,626 201,489 {188,34SI 200 49,970 64,369 202,782 188,345 208 200 79,214 Total Funds 781721 236 882 207,173 1,591 813 021 24
Fairniilehead Parish Church of Scotland, Edinburgh Notes ft)nning part of th8 financial slatements (continued) for the year ended 31 December 2025 15 Movements in Funds {contlnued) Pur oses of Restricted Funds Manse Fund.. This reflects the cost price of the manse property and the investment of the net surplus on the sale of the previous manse. Parish & Youth Ministry Fund.. This is a fund to provide for the salary and other costs of ministerial assistance with parish work, outreach and youth ministry,. and for youth development and young church expenses. Sunday Te8JCoffee Fund.. This is a fund to be used primarily towards the provision of kitchen equipment, and upgrades to the kitchen, tables and chairs. Praise Group Fund.. This is a fund to be used towards the provision of sound equipment, etc. for use by the Praise Group. Pastoral Fund.. This 18 a fund to be used towards the costs of providing pastoral &3re to the elderly and infirm. Boiler Replacemènt Fund.. This is a fund to be used towards the cost of boiler replaMent. Caerketton Upgrade Fund: This is a fund to be used towards the costs of upgrades to Caerketton Hall. Toilet Refurbishment Fund.. This is a fund to be used towards the refurbishment of the toilets. Major Projects Fund-. The Kirk Session is currently assessing priorities for the next major fundraising project. Funds raised so far are being held in this restricted fund. and will be applied towards the next major project which is as yet not detemined. Roof Fund.. This fund was closed in 2024 once the final retention paym8nt for the roof works was made. Guild Fund.. This is a fund administered by the Guild. Pur oses of Desi nated Funds Contingency for Loss of Donations Fund.. This fund has been set up as an investmenl to earn income which will mitigate the effects of a downward trend in ordinary givings du8 to deaths, transfers and other losses. 25
Fairmilehead Parish Church of Scotland. Edinburgh Notes fomiing part of the financial statements (continued) for the ygar gnded 31 December 2025 16 Coll8ctlons for Third Parties 2025 2024 Christian Aid Church of Scotland HIV Programme Mediterranean Hope Edinburgh Direct Aid Ciaran's House Marie Curie Edinburgh Food Project 543 831 512 697 476 323 500 582 51 2,673 1,186 3,028 Collectlons from the Gulld Church of Scotland Programme Christian Aid Fresh Start Butterfiy Trust Salvation Army Fairmilehead Parish Church 846 185 384 182 121 100 121 200 1,352 200 967 Total collected for and pald to third parties Due to be paid to third parties 3,377 3,357 283 3,640 4,380 26