St Michael's and South Church Dumfries The Church of Scotland Financial Statemcnts or thc Year Ended 31" DeceYnb¢r 2024 Congregatiun No: 080491 Charity No: SC 016201 St Miehgel's and South Chureb Tru.%tecs' Report Ycar cnd¢d 31 Dcccxnber 2024 The Trustees present their annual report and financial stalements of tlie charity for the year ended 31 Dccernbci. 2024. '1'hc financfftal slaLcments Iwvc been prcpared in acci)rdancc Ivith the a¢counting policies set our in note I to the acLoullts and comply with the General Assembly Regulations for CongreEational Finance, the Charilies and Trustee tnvesljnent (Scotland) Act 2005, Ihe Charities Accounrs (Scotlttnd) Regulaiions 2006 (as Ellnended) and Accounting and Reporiinu> b}, Charitics: Staiement of Reconynendcd Praciice applicable to charili¥5 preparing their ac¢ounts in accordance with the financial Reporting Sthndard applicable in the UK and Republic of Ireland published oli 16July2014. Objectives and Aetiviti¢s The Church of Scotland is 7'rinitarian in doctrine, Rcfc)mied in tradition and Presbyterian in polity. It exists to glorify God and lo work for Il)e advancemcnt of Chrisl'.s Kingd()m throughout the world. As a national Church. it acknowledges a distinctivc Call and duty to bring the ordinaDces of ieliglon lo the people in every parish ol ScoLland ihrough a lerrilorial ministry. It co-operates with other Churches in various ccumenical bodies in Scotland and bcyond. Achievements #nd Performance St Michacl's & Soutli's primary r￿l¢ll0n IS to proclaim the Kingdom of God. W¢ do this through our action8 in WOTd and sacram¢nt and through the pastoral care of its congregation and tliose living within the bounds ofits parish. The maln diel of woTsliip is on a 8unday at I lam. We have a r¢gular congrLgalion whuse numbers arc slom'ly going lip afieT the Pandemic of around 60-70 which riscs lo around 100-1 l O at OUT bi- annual Communion Services. l-.ellowship is held afier most yervices iii our hall where Ica, cotr.ee and biscuits are 8¢rved to meinber5 and visitor5 ovcr an informol chal. Illc scc this as an essenlial part of our outreach, actively encouragin8 Visitors lo come for coffEe. whcthcr thcy have &itcndcd WOTship or llot. St Michael's & South is designated the "Burgh" Kirk and as such bosls nuraerous sprxx81 scrviccs Ihioughout ihc ye&r. 11]c rcgulars being The Robcrt Burn5 Cclebration Scrvicc and our Norwegian Coniiections Service which celebrates Dumfrics's connection to Norway dui.ing thc sccond world war. We arc also involved in our looA] Gala"CJuid Nyburyis" where our minister plays an activc part in thc Gala Day and the church also hosts the Kirkin. of the Cornet service w.hich starts a week of celcbrati0118. 'I'h¢se celebLXlions mark thc uranling of the town's Ro}'al Charter in 1186. W¢ also host local digtlltaries during the Allnu￿ fiorces Day service. Other scrviccs of lo￿1 or national sisnifiLancc are held. where appropriate. Wc also have a re￿￿ar Remeinbrance Smi¢e on the Sunday nearesr I l Novctnbcr eacli ycar and a vcry well 8tlciidcd Christmas Ev¢ service, at which over 100 pcaple attended in 2024. St Michacl*.4 and .Snutli Church Ti-ust¢Cs' Ileport YLar ended 31 DcLcmber 2n24 MinislcT Modelator. (he Kirk Session worked hard witli thc Presbylcry Planning Commiltee to move Forward tho pi'opo.sed linkage wiib Jth'ongray, l.ochru1t()n & 'ferrcglcs. 1.he Presbytery approN'cd thc linkagc at ils mccting on 3 Decembcr 2024 and w&% ratificd by the B ￿siness & Nomination Corninittee al it-.s Spccific Purposes Mecling on 17 DcccmbLr, wh¢r¢ no objLcLions to Ihc linkage or &Lsain5l the RLvereiid CFary Peacock being ihe ,Mini.%ier of the nem, linked charge ￿'ere received. Th¢ linkage will tskL etrccl Irom l Janliary 2025 wilh a S¢rviLc oflntri)ductinn 011 14 l&iuury 2025. We air Cl¢j-n￿1Y grateful to Violet for her clear direction and dedicatioJ] 10 Si Michael's & Soulh duTing lia. Inlcj'itn Moderatoi'bhip. I-ler clHirinLi of thL Kirk Scs5ioiI mL-clings kcpt U5 focusscd on lh¢ woi-k on liand and with grace and devolion to ilie calliiig of God, cnsurcd oveiyonc liad oppoiliiiiity io air thcir vicws in d safe artd conts-ollc.d placc. Violet also ¢iiablcd th¢ facilitating of an L.,Idcr's ooiifereiice in July whci'e our futiiiE was discussed dl ILLigth ¢ind ¢lTr aclioii plan has bccn produeed fi'om the VILWS 01 the Elders. We also tl)ank again our Pulpit Supply niinistci's who Iiavc supporl¢d us Ihrouglioiii thc J'car. laking thc w'ccklv 5crvicc and officiaLing at Cnmmunion, Wcddiiig.s and I,uncrals. In 2024 thcre were two weeks wl)LYe pulpil sui)ply wasn't availablc and the Kirk Session a]oiig wiili,%imon l-lyslop, oiir OEgani%l. organised tind cx¢Gvlod the scrvices to tlic enjoyineiil ofihe coiigregation. Kii'li Sossion St.KITchael's & Sollth Kirk ,8c%.%ion mccis quartcrly in March, Junc, Scplcmbcr and L)e¢¢nibeT. 'fh¢ Session is rc5poiisible tor thc Spirilual aiid Temporal aftairs of ihc Pai'ish. r)clcgaled POWCTS and rebponsibililiLS have been given to working committee,s.' the Way Ahcad CJrnup; Ihe finance Conimillee; th¢ E', Service5 arAd enlianccs the signiiig to the glory of God. Under tiic Icadcrsliip of our exLeptional organi& Simon. 'Ihe choir would welcome new mcmbers. Fellowship Tcam - Tea, coficc and a Cdke is a very important part of our %unday Eathering. Undcr the leadership ofEthel. the team of voluntccts ¢nsure lh¢ fLllowship ofthe congrcgalion happen.4 ￿l￿ost ev¢ry week. Flowcr Arr#ngcrs - A N'cry small. but dcdicate(L team work wcck on week io ¢nsure flowttr5 8 in church. Most wccks members of th¢ Parish donate to the col in memory of a loved one oi. a Special person￿ occasion. Our flower calendar is ably looked all'er by Jean. Church Visitors- Under thc organisalional skills of Richard and with the support of our Development Officer Fiona: we continue lo open the Church lo i'isitors of the town. People from all over the world travel to D￿n[rIeS for Burns, thc NOn￿glan connection and other family ti¢s and we have a team of volunteers willing I'o show them around the Church and Mausoleum along the graveyard. A graveyard tour is being developed for 2025 ts) show visitors and locals 21ike who if notability are bwied wiihin our historic church yard. St JMiLhael's and South Church Trustees, Ileport Year ended 31 Dcccmbcr 2024 D¢vLIDpment Qffit¢r- Jn l)e¢en)bei 2023 ihc Kirk Session agreed trj invest in an 1. 8-nionih coiitracl for a D¢vclopinent OfTicci'. Aftei an open appliLation process, I"'ioiia slarted ihc rolc in l-'cbruury 2024. Sincc ilicn I".)onu ha.% iynrked hard building rclali0118hips with the conimi]nity around us alid slie. ha$ 8 ￿nchallt for the heritage of boih thc Chui'ch with it s Fich history and the inlcT¢S1i118 buri41s wiiliin Qui. &iravc}urd. Iii tlie carly d21 ys of lier einplo}'ment, fiiona collalM)raled on a queslionnairc wliich Wds sent to Ihe coiigregalion as to whai ￿'()Uld bring them Lo Ghurch and ,liat aclivitie.% ihey would like to SL¢ in CliurLII. 1.iona h&s also designed a rcvdmp of the website and worked to get this a¢tiN'e ￿'11h1n thc first few month5 of her cmploymenl. .8he has worked with various heritage exper18 on lh¢ design dnd manufa¢tur¢ of inlonnation boarils wliich are displayed in the Cliurch Hall, lying the Chui'ch & Élle l-tall togeiliei.. l.ioiia lias wurkcd lu prudu¥b 11 ¥omprL.h#DSiVC leasc dociimeni & priLing structure to be used for dll futuic hiriiig ofihe Lliurch & l.lall for c*'ents ctc. In addilioii lo thi5, she hc1S exteiisively markcicd thc si)accs oli the wel)silc, socials & by Icdflet. S'he has arranged the Flall lo hc decDratcd which iJ]cluded iiew orioinal artwork and for the en's Club liall io be reiiovat¢d up lo l¢asabl¢ slandard. She has beeii a speaker lo thc IoLal R(Jtary Club, lalking aboui the ircenl incrca5cd activity wiihin our Church coinniunii),. 'I'hese activitics includc supporting Ilic Church Guiding Schcmc which wa5 successful during thc sunimci.. l.iuna 15 also well adi'anced in plans to offer Oraveyai'd tours for small. paying groups and works in collaboi'aliun with local pariiiknfs c,g. Dumfi'ics & Galloway Couiicil & Dumfrics Muscum. FinaDcial ReviLW l lie bin211ce Con￿lIEtee has woi'k¢d lia1￿ to kccp an cyc oli incoine gLnLYalLd (ind cos15. '1'his h&% r¢sultcd in an almo&t flat incoine variance on coiigr¢galional givii)LY. We receivLd tlll'ee bcqu¢srs tliroiigh the )Tear, and ihcse ￿liO￿nt¢d to £70,966.83. Our LotLBrcg4tional profile is still becoming oldLf dltliough a few new youngci. peoplts havc b¢en drawn to attend 81 Michael's Cliurch. We activelj encourafte all neiv mLnibers lo givL througli Rankcr's Orders $0 that wc cali I"cduc¢ our Iieed for wc¢kly olfering envelopcs. Thi.% also ￿lable$ us io speak about Gift Aid and ihis ha5 bcen successful in repldcing sointr of Ihc dcclaralions ihat hal'o gloppcd over the y¢ai'. 'I'hc principal incoinc still comcs from tlic wcckly givinsi dnd ilic absocialcd Gjfi Aid lI￿t is claiiiicd cacli year. As in the report, Ilie Kii'k Scssioii Ii¢lS recogniscd this issuG and has authorised the cniplos'nicnl ora Devclopnieni Officer and IliLS invcstnient designed to enable a divcT.8ific'alion of our incomL to be looked at and implcmented. li'c are working with IIMRL to changc ¢onla¢t dcldils lollowinL' IhL bdd death OL. Williain Liiitorl, who iised to subiniL our Gill Aid claims. During the year uiidcr rcview, Iiicoming Resolirces increased from £78,785 ID £15?,672, an incic&se of around 93.7 o. -fhc incrcasc is iiiainls, due to thc bcqucsts menlioiied above. Excluding the bequests, inconic incrtrdsed b}. 3.7D/. St Michacl's South Church Tru5tecs' Iltport Yexr ended 3 1 Dccember 2024 Risk Mana In a volalile economy thei'e is an ongoing thical to ow overall financial perfomlance. Elowcver, the Kirk S¢55i0n 5lrivc lo reducc risks and has in5tructcd thc finance Commillee to mcet monthly and kecp a i'eiy strict revicw of costs and income against the budgcl Ihcj. approvLYI &t their Deccmbci meeting. Ilis will include ihe D¢velopment 0￿1ccr,5 ¢osi. Member.% air encouraged kn attend on regul￿. basis and give to thcir cl)urch Llong ivith an annual Lall lo rcview givings and incrcase, where possible. 77￿ Church aciivitses at the presenl limc cxposc it to littlc in the way of financial risk. It has no credit risk noT liquidity risk and whilst it is subject to interest ralc risk, thc sum5 involved are in nn ￿'aY mateyiat. R￿trY¢S Polie ' The Charity Trustccs have considercd the reservcs rcquired and havc takcn into account their cutrenl and future liabilities. It is thc Trusiee8' policy to hold reserves of at least 6 months expeJ]diture incliiding designaied funds. A¢ the ycar end thc Church held unTestricled fLmds of £190,113 ot which £461 had been dcsignated for the Guild and £2,497 had been designated lor ihe Bunis Club. 'I"he remaining balanc¢ of £187,155 r¢prescnts abo￿ cightccn Tnonths of tlie cw'i¢nt level of expenditure (excluding the exccptiona] slecpl¢ repair costs this year) and while this is highcr than woiild nonyjally be expectcd th¢ Truslees havc not seen fil Iv invesi any ofthe liquid fijnds in anirthinB else for the time being. The church also held £1 1,080 of re.stricted fundts 2nd £2,246 of endownent fund8 which liave been provid¢d for the piiiposes specified in Notc 14. Structure CJovcrn?nec and M2na cment rhe congregation is a registered charity in Scotland under charity number.. SC 016201 and is adminislered in accordance with the ternts of the Deed of Consiituiion (Quad Omnia) and is subject tbe Acts and Regulalions of thc General As%mbly of thu Church of Scotland. This was updated in Noiieinber 2024 ￿ the Form of Unitary Consti￿￿On. .M¢mbers of the Kii"k Session are charity trustees. The Kirk Scssion members are the eIdcrs of tILe churc]i and &e chosen from Ihose members of llie church who are considered to have (hc dppmpriate gifts and skills. I'he Interim Modttralor is noi a rneMb￿ ofthe Kirk Session bui acts as chair nr mnderdtor ￿ld is appointed by the Presbyiery. The Kirk Scssion mcets quartelly a8 per schedule and can 2nd does nieet more frequently as and when deemed ne¢essary. The Kiik Sessio is responsible for the spiriluaL and lemporai &ffairs of the congregation. Certain responsibilities have been dclegalcd iv thr Fabrir Commitlec 8nd Finance Cojnmiltee. Thc Fabric Comrnittee was am41g$￿Illted with the Way Ahead (sroup in December 2023 to ensure ihe fabric work of the Church can continue. St Mithael'$ 51Dd ,Svutb Cliurch Tru5tce.s' Ilcport Year ended 31 December 2024 IlefcrLii¢e and Administi-atlyc Informalioii Trustccy Principol Officv-bearcrs Inlcriiii Modcjator.. Violct scrvicc (lo I si Jaiiukuy 2025) Mini.sici': CFary Pcacock (fmiii I sl Jaiiuary 2025) e&sion Llcrk= Esthcr lJr¢slon Church TreasLirer= Craig mcf.lvcn Principgl Offiec Si Michacl's a￿d South Church St Mtchacl Stre¢l Uuinfri¢s C.hur¢h Officc 25 Castle Street t)urntl'iLS Utsl IDL Charity R¢gistration Numbcr Registered with oificL of Scottisli Charity Regulator under number: SCOI 6201 Ind¢ ci)dcnt Exdn3iJier 1,2rries KirK & Lmcvcai), LA Diimfries LJiiCiPiiSL P(￿K I leathhall Dumfrics DCJI 3.8J Il&nkcrs Banlc of Scotland 91 J-ligh SiTeet Dillnfries DGI 2I1IN St Mlehgel's and South Church Trustcesl R¢port Year ¢ndcd 31 D¢ccmber 2024 Trustees, Responsibilities in Rcl#tion to the Finaneial Statemeots 'I'hc charity truste¢5 arc responsible for prcparing a Lru5tCC5' ar￿Ual TCPOrt and finllncial 5tatemenL% in a￿1)rdance with applicable law and UniitJ4 Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prnctice). The Low applicable lo chatities in Scotland requires th¢ charity trust'¢es io prepare financia] statrments lor each year which show u true and fair view of th¢ state of affairs of the clwity and of thc incoining rc50urces aiid applicaLion DlresourLes, ofthe charity foI that period. In preparing thc rinanGial 5tatemcnts, the trustees are rcquirLd lo.. selccl suitable accounting policies and Ihcn apply them consisterLd}" observe the method and principles in th¢ appliGabl¢ Chariti¢s SORP: - make judgements and estimates that are reasonable and prudent.. - state ￿,hel17Cr applicable accounting standaids and ststem¢nts oEI'¢comm¢nded pracÉ"ice have been followed. subject to any deparlurcs disclosed ond explained in 1he fii)ancial 5talemeDts' - wepare the linanciaI gtat¢ments on thc going ¢onGcrn basis unle58 11 is inappropriate to presume that the Gharity will continue in opctational cxistencc. The In￿ are rcsponsible for k¢￿IllE prop¢r a￿Ounting Tecords wl]ich disclose with reasoi)able accuracy ai any time the financiat position of the charity and to enable thcm to ensure th3t th¢ financial stalcments CDinply with Ihe Chaiyties and TruslLC Inveslincnt (Scotland) Aei 2005 and the Charitie5 Accounts (Scotland) Rcgulations 2006 (as amended). 'I'hey ￿'C also Tespon5iblc for safcguarding thc assels of the cbarity and hence for iaking reasonable steps for die preNeution and dctcclion of fraud and oth¢r irregularitics. inforTnaiion on the congTeg81ion'.s w¢bsilc. LKgislation in thc ITnited Kingdom govcrning Ihe prcparaiion and dissemination of fIn3ncial 51atements may differ from l¢gislatRon in othcr jurisdictions. ApPI￿ved by the TTUStees and signed on their behalf, St Micha¢l's and South Church Indcpetsdenl Fxamiiier's Report to the Truy(L￿ of St MiLh4el'$ xthd South Church Year Cnded 31 Dccembcr ?1124 I report on the ￿oUnt5 of the chk)rtLy lor Ihe Year ended 31 Dcc¢mDer 2024 whJ'ch are set out on pagc3 9 to 17. Rcspective rc$ponsibilitie$ of trusteos aiid ex4niiner ThL- ¥harily'5 Lru8tCCS ￿.¢ I'cspon.sible for the pr¢paraiioii thc awunls in accoid&ice with ilie Icrm8 of the C.haTilief dnd Trustee Investmeni (Scoilandi Act 2005 &nd the Charitics Accounls (Scotland) RLgulations 2006 (as anundLd). The clwity tr(LStccs con.sider ￿lat Ihe audit r¢quir¢n)Lnt of R¢gul&lion 10(I) (a) lo (c) ofthe Arcoiiiits Ilcgulatlolls does not ai)ply. li is IT]y I'csponsibilily lo CKUlii?nc thc aLcounts as requiied undLr section 44(l) (c) ijf th¢ Act and to statc whethLI p￿tiCUlar matters liave LOLne Lo atlcntion. Bx.si3 of indcpLLdent exumincr's stiilcnjent My exaininaLion is Carried out iii accordan¢c iviih Regulation I l of the Charities AcGounts (Scoiland) Ilcgiilatioiis 2006 (35 aJ]iendcd). .4n examiiiacion includcs a review of tliL decounLyng records kept by the Lharity aiid a Comparison of thc accounts presented wAih ihose rccvrds. Ii alsu includ¢s considcrutioii of any ullusuai itents OL dibLlosur¢s in the accounts, and secks cxplatiaLion rtOll] thr Iru5tces Lonccrning any such maitrrs. 'fhe procedurcs underldken do iiot provide all Ilie evidcncc tt1at would bc requiTcd in audÉt, and coii.sequcntly I do not cxprcss an audil opinion on the i'iew LJiv¢n bj. the accoutJt8. Independent ejaminer's %talcnitnt ij) the course of my examinatioii, no iualtei- has come to iiiy altenlio which 8iv¢s mc rcasoiiahle ca41se lo believe Iliat in duo within onc ycai. Not (_'uriiknt Msots li 906 175839 906 189Jfi6 84 31b5.849 JtA18 2.?46 Cicdiiois falling due after mDr¢ than on¢ year Nel Asxl¥ 190,IIZ 2111439 218. The I￿ndS of t￿E charlty- EndoM'.m¢nl funds Ji£%iiiclcd incoinc furvjs L.nr¢stri¢lcd illcomc olal clixrity fund5 2246 1,699 10,f.8 206.49J 218.920 11.080 1911.1 IJ Z.246 203439 Thc *coiJiil% We￿ Hnpmvr4d hv tb.e n-, ry7 r-4,..:?rJ ￿0?* t 10 St Michaol's and South Church Y¢ar ended 31 December 2024 Aeeountin% Polici -rhe pi'incipal accounting policies, whhcli have been applÈed Lonsibteiitly in the curr¥nt and preceding ycar in dealing with items are considered material to the accounw are Sel out below. Basis of prcparatioii The financial Sta￿ments have be¢ii prepared in ac¢ordance with AcccTrunting and Ileporting by Charili¢s.' Stalern¢ni of Recommendcd Practicc applicable to ¢h8rities preparing their dccounts in g¢cardance with thc l.'in8ncial Reporting Stftndards applicablc in the UK and Ilepublic ot. Ireland (I,-RS102! i55t>cd on 16 July 2014 and Ihc Finai?cial RrporLing 8ttLndard applicablc in th 'K and Republi¢ of ITeland {fRSI 02). the Charities and try5t¢¢ Investment {Scotland) Act 2005 and the CSiariiies accounts (S¢otland) Regulations 2006 (as ainended). aetountin% ruiids arc classified tts eithcr rc5trictcd funds or unreslricted funds. defined as follows. Restricted funds aiE funds subjLCt to spLcific requirem¢niS as to iheir %vhich may b¢ declared by thc donor or with thcir authoriry or ¢rcated throush Icgal proccsses. bul siill within th¢ wider Obj￿13 of ihe charity. rndowivent fund$ are funds whi¢h hav¢ beeli giv¢n on Lhe condition tliat Lhe original capital sum is noi redu¢cd. th¢ income tliere from is u5¢d tor the purpose dcfined in accordance with th¢ objeknts of tlie charity. Uiirestricied funds ale cxpendablc at the ¢Jiscre120n ot.the Irustces in furtlitTan¢¢ of the oLijccts Df ilie charily. Ll pwts of thc uiir¢slri¢ted fund5 are ¢armarkcd at ihe discretion of tlic trust¢¢s for a particular purposc, Ihcy are designated us a 5epar2¢c fund. This design(ilion has an adininislraiiv pu¥posc only and doc5 not IcgJlly rcstrict thc tyustec$' discrction to apply thc fund. Incomin2 T¢sourcLs Income is recognised when thc charity has entitlement to the funds, any performance conditions attached to the iteiD(s) of incoin¢ havo b¢¥ii mel it is probable thai the incoine will be reoeivEd and the amouni can be measured reliably. Donatcd stryiees And facilitics Doiiated professional services and donated facilities are rccognised a5 in¢oin¢ wh¢n the charity has control ov¢r ihc it¢m, any condition5 associatcd with Ihe donated item hav¢ been mei. the receipt of economic benefit from the use by the charity of the iiem is probable and thar eLonomic benefit C8n b¢ Illtrdsured reliably. Iii accordanc¢ with the Charities SOIiP (PRS102) th¢ general volunteer tiine of congrcgation n)embers is not recognised. Otj receipi donated profession&1 Services and donated facilities are recognised on the basis of the value of Ihe gilt to the charily which is the amount the charity would have b¢en willing to Pay LO obtain 5ervic&% or facilities of equivalcnt economic krlefit on the open markc(' a corre.%ponding amounl 15 then Tecognised as cxpenditure an the period of receipt. Interest rcceivablo Iiiter¢st on fund.s held on dcposit 15 includcd when receivahle and the amounl can be measured reliably by th¢ charity. this is normally upon notification of r11e interest paid or payabl¢ by the Rank. St MichAel's and South Chui-ch Year ended 31 J)eceiiibei' 2024 Fixed .4ssets 'rh¢ chority has tlie right to occupy and u%c for its chariiablc obje¢L% certain Lan%iblc fixcd asscls, includiiig tlie Church, halls and mans¢, v¢stcd in ihb Church of Scoiland G¢n¢ral Trustees. No coiisideratioii is payable (oi. Ihe vs¢ of ili¢se asset5. ExpLnditure iiicurred on the repair and Inainlenai)ce of these dsscls is charged as rcsoiTrccs expcnded in tlic Siateni¢iil ofFiiianci&S Activitics iii the period iii which the liability arises. All lallgiblc fixed assets haviiig a valu¢ lo the charity 8rLaler than orLe ycar. other than ihose acquired for specific purposes. are capilalisLd. Deprcciation 15 providLd on a straigh(-line basis to writc off the Cf)si ar initial N'alue. less i'e.%idtsal valiie. of tangiblc fixcd as5els ov¢r ihcir cstlllJLltcd ￿.￿eful lives.. rixlurcs. filtiiigs and office equiptnent 10 Years Invutmcnts rix¢d abS¢t iiiv¢blin¢nls arc statcd al sn3rkeL vali1¢ at tlic bkLluiice slicct datc. Uiircftliqid gains &rJd loss¢s r¢i>i'¢s¢nl th¢ diffcr¢n¢¢ b¢Thveeii ili¢ inarkct vali1¢ at ilic bcginniiig aii(S cnd of thc finan¢J&l y¢ar OL. if pui'chased in ihe y¥ar, ti)¥ diffL>reiiLC belii'een cost and mark¢t valuc at the Lnd of the ycar. Rcaliscd gains dnd IossLS repre.seiit ihe diflercrtce berwecn thc prOC￿d& on dispo8al and tlie marke( vklue 21 tlic start of tli¢ yvar or cost if pur¢liascd in tlic ycar. Taxgtion %( Michael's and .8ouih Churcli ￿S rco)gni%ed as a charily fDr thL purpnsQS 1)fappli¢able taxalion legi8lation and ts thcrcforc iiot 511bjcct to taxation ils ehaiitable activities. Thc charity is not Tcgistcrcd for VAT aiid resources expended tlierefore include irrccovorable input IIAI.. 12 Si MichAel'$ gild Sollth Ch¥rch Notes formlng part of the finAneial statem¢llts for the year ended 31 Deetmbor 2024 UtLrostrict¢& Re5trided FllrLd¥ 2D24 Cndowment FuNd$ 2024 -rotxl 2024 TotAI 2013 2024 l Don#tion$ And Lcycics OfftriD88 Tax r¢covcrd Gift Aid Loga¢ies Value ofdonated goods Oih¥ 45.9¥)1 10,000 70,967 250 4,737 4,737 5,58i 131.855 634 132 489 64.147 Incornc from donJtlQns and l¢gaci¢$ was £132.4k912Q2J £64,147) of which £131,855 w2$ unrestrici¢d12023 £63.7051 and £634 wa5 iesrrzcTed l?023 £4421. Other donations includes I'¢a & Coffccs £1,27¢.51. Lig￿ A Life £2.847.25. Guild subscription5 £210.OD and Durns c]￿b .%ub3criplions £405_ 634 46.535 iu.000 70.967 45.007 13,557 2 IDCOTn¢ from cliaritablt 8ctivitl¢s W¢ddings, bap(isin5 and funeTa15 Coffe¢ inoinings, rag bags etc Guided tour5 Donations for chariiics oih¢r 5JO 76 1,348 468 510 76 .348 468 560 305 2.402 2.402 1.692 Inconje fwm Ch￿1￿()1¢ A¢tivitiCS Wa5 £2,40212023 £1.6921 of%rt)iih £2,402 uiirtsiFl¢f¢d12023 £1,692) and £Nil was striGkd12023 £Nil). 3 Intome from nther trAdi￿g activili Rcnt r¢c¢ivd- HaI15 Ilcni ￿ctiV&￿- Mans¢ 810 810 6,816 7.626 105 5,819 5994 7.626 4 Inv¢stmcMt irscomi Divi¢Jcnds r¢GEivrd Dep05jt intcresi 467 7.035 467 Tvlal investmcnt incomc was £8,542 (202J £6,578) ofwhich £7.035 was unrestri¢icd12023 £5,326}, £1.040 was from r.ndowTnenT funds 12023 £907) and £467 WLE restricted (2023 £3461. 1.04 6,578 S Othcr In£Dme Othcr 374 374 1.6L3 Oihtr income was £1.592.95 Water rn1¥s ￿r￿Trd and £20 00 suiv¢y inwme. 13 St Iwllchael's and South Chiir£h Notes forrnin¥ part ijf the ftrnJ)nLial 5t#t¢mcntS lor tlic year eiidcil 31 D£¢¢inbcr 2024 Uijroslrioted RestriLt¢d Funds Funds 21J24 2014 Endowment riund5 21124 TotAI 21124 20Z3 6 AnJly5is nl Exiiondilui'¢ Raising ffuiidx Inv¢slin¢rtt ManHLJcr's Fet¥ o￿Lri￿￿ l-:nv¢lopcs 223 63 6J 223 Miiiislries & Mission Allocaiion PiesbylGry Ducs Voluntary Additional stil)￿10 1111$￿￿$ Fxp¢n5¢S ginis(crial,I5sisIBn¢c Pulpit Supply Oihcr S¢llary Costs riibric RLTairs & mdinlc1i￿7ce Loiill¢il 'fax ?? J63 1,072 25,269 1,072 1,072 27 5,698 5,698 .33,9CTr2 65.4CI8 5,n76 65,468 8.443 22.334 4,383 ?_,93 468 4.234 167910 13364 9,727 I￿7] 827 c.hurch OfficL' E4ienscs OIEaii & VJVSIC Charilabl¥ r)uiiaiion8 f)rheT F￿p¢n$t$ 4,)83 2.911 41)8 5.456 169.132 ?49 749 473 41J 14.228 TolAI 16g.lJ3 749 473 169 355 74 291 Support co%ts hai'c iiot bcth sEpariJtcly ing the y¢8r was &8 follows". l￿Zd Nurnbor 2023 Number Milli￿¢r121 511PPVrt Musi¢ staff PFEffliS¢8 lna1ntcn￿ficC DtVBlopn2ent officer No unplovce had tJnploycL. b¢JJLfilS lrt exte.fs of £IO.000 {2023 Jiill All Lhurcli ors￿[1d￿d congregatlOn5 Cnlltrlbute lo the N'dliL)(121 SiiiJ¢nd FuFid wliicli b¢ars Ili¢ LfJ%ts of All ]niiJisler5' ¥lipend.4 id L'iiiploycvs LontributlQJl.s foi iiaiional i115uraDcei pensivn and liousing ii lid loan fund. N4ini£i¢r%' stipcnd5 arc paid in a¢wrdaiicc ￿'￿th Ihl nativnal 51ipLnd sLale. wliich is rLla(Ld to years of scrviGC. I'vr ilie vcar und¢r rcviuv thc mjnimum stip¢]￿ £3 I,G42 #ijd th¥ In￿LI￿UM 51iptriid (in thc fifih and subsLqU¢lii year51 £)8.884. 8 'fru5tcE litmiinci'Thtioii and IlelAtcd Party Trannctittii% Durir8 the ￿at th¢.Mioister had ts'avd cxiKnsc5 pAid on iliLir bchalf. Wo Ii'usiee or a p6r5cin r¢ldl¢d lo d trU51¢¢ had any pcrsDiial intCTCSt iTr any wnlraci or iransaciion cntcrcd iiilo by Ihc Ghariiv diirinB dic ycar. l)uriJi8 the ycar d total uf£12:000 wa5 donalcd la Lh¢ congregation by Ir1151L¢i. g Inveslm¢nts 2024 202J M8rkct valu¢ at 31 Dccunbcr 2023 Unr¢Ali%cd gain l {los$) invcsimcnis Nfark¢i vaJu¢ at 31 D¢¢rmbtT 2024 12,120 951 Invcstments at cosi 1.694 Thc followirtg invc5tincnts aro lield: 21￿0 uniis Unit Trusl Fond C.huTch of Scofland Inve5¢or$ Trust 33 ¥nits Income Furtd c.hurch tsf Seotland Inve5tars Trust ,St Michael's And Cliurc.h Notes lorming part of th¢ finaThcial statcmcnts for tlic yeAr cndeil 31 Dccembcr 21124 10 D¢btoJ¥ 2024 21123 C5ift Aid'fax R¢fiiDd Du¢ 20,000 10,000 20.QOV X Ci'¢ditor5 202 2023 Accru315 Crcdilors 840 66 90r) 840 40 12 Aty¥lysts ofNÈt J155¢ts Amoug Yund5 Il£&triLtcd EJEdowmtnl IDI'¢stmcTrts Currciil A55cts Curr¢fti LiabilttiC5 14.273 173 787 (9061 14,273 I90,071 19061 2,958 1.089 2,24( '¢¢ Assets at 31 UL't 21124 2.246 203.439 13 Volunlcf rs In coiniiioii with a51 Go.￿8reS￿l1Ot)s ofthu Church of Scotland lh¢ Giin8rogation be•efits frf)ni conrribuiion mdd¢ by voluniLii-s wlio givc IlILir titnL and lalenLS VJtllingly foi Ili£ bencfii of thL Cl)iii¢h. Th¢ aius of coogrcg31ional 12fc which Icly oli ilic con&ributioii of voluiilLLr% gre inaiiy and ¥dried And niiicli ofihc aclivity would bc unablL lo wniinu¢ w¢rE ir noi for tli¢ coininilincnt sliowii. St Michaol's an4J South Churcb 'otes formine pai% of th¢ fiDAneial ¥tat¢ments for the year end￿ 31 Deccmbcr 2024 14 f*lovem¢nts In Funds At I JHnuThry ttL£nTning Outgoing licsoiirc At 31 Dec 2024 2024 R¢5011rcc Tr&nsftrB dowmcnt funds Miss Wirnmo Futtd McLellaD Trusi fuud 513.64 42.25 997.74 1.039.99 -19.80 538.09 1 708.13 2.246.22 -47J.11 -473.11 1.699.14 -19.80 Rtstritttd fund5 Sunday %¢hool fund B¢n¢v(TrlenE I-UDd Flower Fund George HetJd¢rson Trust fund 1.180.80 3.943.50 317.97 5.285.99 10.728.26 89.41 17168 41.00 1,229.21 -707.90 219.92 2iO.13 1.101.07 .748.90 o.oo 11080.43 UDr¢striclL'd funds Dcsignated fabric lurtd DE5ignatcd Cjtsild Thjnd esignated Burns Club Fun¢J Spwial Rcscrves Fund Gencrnl Fund 4,436.62 -165.99 2,187.43 133JI8.16 66 184.48 206.492.68 9,426.02 33B.20 520.OD 76,770.96 63,475.58 15U.530.76 -17.657.46 -263.00 10.00 -41,457.60 -108,744.80 -166.132.86 io.000.on 19.80 -200.011 6,205.11 460.99 2.497.43 l68.631.52 12.317.56 19(1112.68 -8.397.70 1222.10 Total funds 218 920.08 152.671.82 -169.354.87 1.202.30 203,439.33 Eutp.o$csmlfndo.vmcDt Funds iiss Nimmo Fund.. The incotne from thi.s fund IE trnnifcrred to ilie Ciuild. McLcllan'llu$t Pund..'fhc inwmG of this fund is Split thc Bencvolcnt lèund ond l)umfries A¢)demy. Ic5ts1Cted funds Suiiday School Fund.. 'nsis fuiid is used for any additiunal funding required by the Sunday School. Il¢ncvolenl I'-und..'fhi8 fund is used to prvvidc gifts and Support to tliurch memb¢rs ity need. riowoT Fund.. Tliis fujjd i5 used to provsd¢ flL)wers for rhi church. Co)r¥e 11cndL￿vn.frusfi Fui)d.. ThLS¢ fund5 4r¢ aYdilabl¢ 10 anyoii¢ ITaiiiing towar(15 thc Jnini5try. rabric fund.. Thc TrustCBS hav¢ Sel asid¢ fund5 fDrth¢ maintcnancc of th¢ Church propcrty. ild Fund.. Thi5 fund 15 used for thc gcocrèl runnine of th¢ Ouild and supportlng charitable projccts. Burn5 c.liib Ftsnd.. This fiind 15 used for Ilic general running of thc B vms Club. Special R¢s¢rves Fund..'I'he'frustC¢5 hJv¢ set 35ide funds to mc¢t vnexptcicd cxpcnsc5. Gertesal Fund..'I'his fund 15 used forthE 8cncral dayto day iunDin8 of tli¢ ChiirGh. 15 Clblltctioms for Third P2rties 2024 ZlJ23 Earl FlaiE Fllt)d Earthquth Appeal Firsl Ha.$¢ Agcncy S¢oiiish Bible Snciety 156.02 loo.00 435.50 234.00 57.50 827.00 245,75 65.84 q67.61 17