The Church of Seotland Inverurie West Parlsb Church Congregation No. 331973 Scottish Charity No. SC016907 Congregational Accounts for the year ended 31 December 2024 Trnrtee•' R￿￿rt Year end¢d 31 December 2024 Th¢ trustees pT¢sent their annual re￿rt and fllwicial statements for Inv¢nrie We Parish chU￿b for the ￿4T ended 31 D￿ernber 2024. Th¢ statements hav¢ be¢n prepred in a¢cordane¢ with the aceoimtitig policftes 5Ct out In not¢ I to the accounts and c￿nplY witb the General Assembly Re8vIv4tions foT Cowegatiooal Finao¢e, the Charity and Tru6ts¢ ]nvestment (Scotland) Act 2(X15 , th¢ Charities Accounts {S¢ot1￿) R¢8ulations 2(X)6 {as amellded) and the ALYoimtiD8 and Reporting by Charities.. Stalmfflrt of Recommended Practice applicabk io the clwitias preparing thetr accounts in accordance with the Financial Reportitig StaDd pplicable in the UK And Republic of Ireland publish¢d on 16 July 2014. Objective8 and Activlti¢• Th¢ Church of Scotlattd 18 TTtDitarian in d(thin¢, Refornied in tradition and Prcsbyterian in ￿licY. It exists trj glorAfy G¢)d and to work for the advancemeDt of Clrist's Kingdom througlM)Ut the world. As a national churc￿ it acknowl¢dges a distinctive ¢a]l and duty to bIin8 the OTdin4w¢s of religion to the people in ev¢ry parish of Scotjond through a tfflritorial rnini8ty. Itc(wcrnteJ with (rthcr Churcbes iti Vario￿ ¢¢UMen￿al bodAe8 tti Swtland atsl Lwnd. Servic¢s of Worsbip normally take place once a week. Th￿e is a JunAor Cknb 8T0￿1 and a Guild meetin8. The Con8rwtion atE also Involved in a wid¢ rnnge of Social Events and Communlty Artiviti Achievemen1* And PerforAuan& 2024 proved to bc anoth￿ busy and rewarding year for the congregation of Inverurie W¢s1 Parish Church and thorough the shared faith of the congre8ation, rcmains an active presence in the town of Invenllie. Und¢r the ministy of he cojwwtion continue8 to find and develop new and n￿an1￿[u1 b'ays of wo IppJn8, celebrntiD8 and Affinning essential ¢l¢ments of our sbaTed Sullday Bervices at thc W¢8t ChU￿h ar¢ a bleThl of traditiowl and contemporarywoysbip al￿ they continu¢ to be liv¢ st￿a￿ed. Eas*r, Christma8 and the sumnw moDdLq of Juty and August ¢ontitiue to provide us with oppornjnities for worsbippin8 together with the neighbowing ¢on8rcgation of St Atslrew's Parisb Church, We also joined toFth¢r wftth oth¢r mcmber co0￿gatIonS of [nvffl￿le 4nd District Chllrches Togeth¢r for united Holy Week and Pentecost and the annual Chri8tingl¢ service. At the unit¢d OD Easta Sunday tFe 'ColourB of EaBtw' textile artwofK was at the centre of the Worship space. Tht8 was crea*d from Btrips of cloth donTht¢d aod braided together by many members of th¢ ¢ODgregation with tiny embroide￿d word8 ¢mirdded ID the woven braids which arose in our WOTthp dwing LenL Aeh*v¢mettts and Perf•maKe {eonL) W¢ are now in 4 parish 8roupin8 With St Andr¢w's and as part of the Presbytcry Plan the Iwo congr¢gations are continuing to look at what our options are r¢garding th¢ l(mg-trnn future of the tsvo church halls. ID Seiknber. after ¢￿￿iderIng the implications of tyin8 to sell our ball, and secking the adviL% of the Chuwh of Scotland law departsllenl arding how tQ pro￿ed with the rather eompli¢ated title th¢uments, the Kirk Se58iOD a￿d to d¢moIisb the h911. This will fre¢ up the spa¢e to furtheT develop our garden pgrtrmlips and proje& op¢n up new po&8ibiliti¢s for lrtal mission. whil¢ ¢lirniDatin8 the burd¢n of fijkn maint¢nAntt and ryir co8￿ It could al80 improve patkiug a￿¢s8 for th¢ ¢oTrgwation. Thc (kcision Iw not b¢¢D taken lightly, but it feels lJTre a positiv¢ way foThYar Mernbers of the con8re8atioD are visited tivlce Awwally by our eRd¢rs pri(Jr to thc April aod Octobw comm￿10n s¢rvic¢s and maoy ¢lders maintain regular ￿ntact with member8 at other times throughout tk year. Encounter. our M￿thlY mag1zi￿. was di8tnl>ut¢d thuiDg the year with over 250 bous¢hold5 rw¢ivin8 the electronic Versi￿ of the n￿8azine. There wer¢ 8everal oprthllnitics durin8 th¢ year for niembers of th¢ wngregation to g¢t together aDd discuss a rwe of Subj￿. In 4ddition to th¢ r¢8ular Blble study, Advcnt and Lent study grouN ID December, th¢ Christian Education Tcan) IK)Sted an ev¢ning of Advent reflection entitled 'Follow tljat Stsrl,, WEST CHURCH GROUPS: •The Prny¢r Group whtch Bet up 26 yearB Ago ¢ODtinued to meet weekly to pray for indiviéuais, 8roups or (rgani5atioDs from within th¢ congwgation, or th¢ I￿al communty. as well as national and intemational concenkq. • The Wtst Church Guild met re8ularly throughout the year 4Dd as 8Iw8yS. their guE$t speakers provided all interesting variety of topies which iti 2024 inclu&d talks about The Eeumenic81 Acciympanlm￿¢ Pro8ramme in Palostine and lsra¢l, the 'LiviD8 Well Café,, which provides P4 8afe and ￿l¢oming place for adults with rn¢mory pmblem4 and 'My Lifr a8 a Midwifr,. • JllDlor Ch•r¢h- Youll8 people atlen(li￿8 8rfvi¢cy are provid￿ with an'in Church, experi¢DCC and during the second part of th¢ 8¢rvAce YOUD8 familieijoi Junior Church leaders to woyk on a craft activty re]atiDg to the tbeme of th¢ service or tbey can I¢￿￿1n tn church and access th¢ 'play a8 you worsbip, EKTrx which ¢￿tal￿ a similar ￿tiVIty. •MAlnly M•oic. ha8 b¢¢n r￿￿ing at West rhurch for 12 yeaTS and is a group f(f ETh- nursery chilllren and their parents, grdndpareDts or other ca￿T￿1ver8 to enjoy song rhyme4 socialising and 8nacks, all within a Christian ¢ontexL tO8ether with fellow elw in Inventrie 18 actively involved in chaplaincy work with th¢ town'B four prirn￿ schools and 8CCLrAlary sknl. As W of thi5 haplaillcy WO￿ at Inv¢rurie Acad¢my, voAuDteeT5 from our ¢ongre84tion h¢Jp oitt weekly at a '¢haplaincy ￿f¢, pthich pwvide8 a qui¢ acc¢$siblc s￿1 for any pupils who want to stop by. Achievernents ¥nd Perform•#¢e {conL) Supporting the WO￿ of Christian Aid forn￿ an iinporknt part of OUT t¢gular comuthent lo the wider WO￿ of the Chvrcb and fuDdraisin8 activities included the amiual Christmas ¢ard d¢livery 8cl*m¢, book sak and a 80up and sweet lunch. The West Church bas conlinued to send used posts8c stsmp5 kn the World Mission Stamp AM)eal ￿1¢h ha ised for many worthwhile projects over the years and in 2￿24 the money rnis¢d continued to stwort s¢ttin8 up tree nurseries itt Malawi, Zambia and Zirnbabwe as part of the 'Firnily Planted. which nms witii March 21Y25. The conw8ation a8aill suworted the wotk of Cr08sReacM the carc ami of thc Churc￿ through th¢ sple of calen(lars and Fairtrnth continues to be an importsnt roc￿ for tbe congregation and 2024 th¢ 30th anniversary of tbe Faittia& mark first aFoearing on products io th¢ UK. Fairtsade Fortni8bt 18 now h¢ld in Septemb¢r and ihe theme for 2024 was B¢ the chan￿,, 8POtlightin8 th¢ ways that ¢v¢ryoue ￿ ¢nact real ¢hange by clM)08iog Fairtrdde. The hurd) ma8aziti¢ is to higbligbt thc growin8 challenges that climate change hyngs to farrners and workers in the conmiuDities Fairtrade works with. Th¢ annual Christma8 promotional evening• at the be8iDning of November was most suc¢esshl and appreciated by all who attended. Inventrie West Churcb is a m¢D]bcr of Eco Congregation Scotland and our Environmental Mattm team regularly raise awarene&8 of ¢nvironmentsl issues. Soctal and fimdraisiDg activities continued tlmugknut 2024 and included., quiz ni8bt 'Popup' MediteTrnean BistrD ¢V¢Ding with eht¢rtainment. a walking tsea5ure hunt round Inverlltie. Bennachie Bike Ride- an annual 23 mile cycle in th¢ shadow of BemJachi¢ a garden paty or8ani5ed by our or8aDis¢s to raised fimd to &fray th¢ cost of tuning and 8erYicing the organ. th¢ salc of p￿-loved and knitted Cthisth]as decoratioD& the 0tr80in8 sBl¢ of donated 8oods online via Facebook MaEkotylace After 16 y¢ar8, th¢ C¢ntr¢ a popular venue in the to￿ providing cxcellent bospitality and spa¢e for churth aDd community 8roups to meeL A numkn of seasonal offer8 hav¢ proved very proved very p)pular with cuthmers. In September £6.000 from the 8Tatuities left by appreciativ¢ ¢u8tomer5 was distributed to 19 voluntsry groups in the local ar¢A ulld￿ our small 8fdnts scheme. Over th¢ last 16 years £71.000 of ￿atULtieS has be￿ donated to over 2CK) small groups and lo￿ ¢I￿lties. A thafjk yov afternoon tea was beld during the year for the stsff a￿1 Volunt￿ on wbom the succe&s of the centr¢ dynd& The dwrcb garden which wa8 develop￿ io 2021 has ¢ontinued to flouri8h thanks to ¢fforts of an enthusiastic group of volujrteern aDd has prcrfluc¢d an all￿da￿e of vcgctabl¢s for the Acorn Centr¢ kitchwL Achievements •nd Perforni•ttLY (cont.) The garden tsam bosted two su￿e&sfid ¢v¢ntS 41urin8 th¢ Y￿r. a soup and sweet lunch followkng th¢ AGM in May to raise fundB for the project. an op¢n ￿ening in Au81]s¢ for those Intere￿¢d in the PMj￿I. The artivities of 2024 again clearly 8how that OUT identity a8 a chU￿b is embe(Med in more than a building. 'Church' is in our ConVe￿atiOnS our relationships. our pray¢r8 for other, ow m￿1 and gre¢ts ftn th¢ tbe help given and r￿e1veAl aTr4 the hospitality thc A¢orn Centr¢ Offe￿ to the conmiunity. Most of aIl it 18 in our coDtinU81 effots to ￿0¥DIsC Christ in afjd arnon￿ and we now look forvmrd to ¢ortinuitig to serv¢ and be a presenc£ in owpari&h 8nd local community in 21r25. FknallciAI Revl¢w The ¢onsolidat¢d ChU￿h Accounts ts 2024 slK>W a negativ¢ mov¢m¢ni in funds for the year of £18,326, wmpared to a D¢gative movellKnt of £53,762 in 2023. The n¢t movement in funds for 2024 convi￿8 the following.. - Totsl (htgoing Re8ourc¢s . Church Financed by.. Contrfbutlon from A￿rn Centre Ilnverurlel Ltd Ubuntu (38.149) 37,541 973 Ne¢ SurplM8- Cbur¢h 363 Dw¢lopment FuDd Fund adjustments (Guild, Ubuntu & John Bothwell (652) 420 Total Cash Trthsactions 2,133 Less Adjustsnents for Non-cash Tra￿￿tiOnS Depredation (21,494) Add Rcco8nised Gain8 Investments 1.035 Net Mw¢ty¢nt in Fllndj 18 26 In rUw￿lla1 tern￿ 2￿4 Saw an Improva￿ent iti the Church's finall￿$ com￿red to 2023 but was still a challenging year for the Cburch. Several difficult decisions were taken by the Kil* Session iti order to save m￿cY and improve the fu￿￿181 position of the Church. These included yeplacing th¢ Church Offic¢T Post on the rel1￿ment of the previous ￿8th01a￿ with a less than fidl tim¢ post and closing thc Church Hall for ext¢rnal Icts in order to savc on energy costs. The rUw￿la] position of thc Church was akn helpKd in 2024 by 8n increase in Givings compared to 2023, significant fimthaising ¢fforts involving a wide range of ev¢Dts which yield¢d £6,740 and by continued high interest rates which meaDt that g(x)d Teturns were rec¢ived on the fimds that the Churcb has invest¢d through the Church of Scoiland. There was al reduction iu our Ministries & Mis80n allocation Compared to 2023 due to th¢ second y¢4r of the"GiviDgto Grow- funibng fonrAula Introd￿ by the Church of scirtjal￿. All of itcnb not¢d in the paragtaph above ben¢fitted the financial ￿sItIon of the Church in 2024 comFdred to 2023 and led to a small surplus of £365 being T¢wrded on the day to day Church budgeL b¢fore adjustiti8 for other fimd balancaq attd non- cash tran￿etIonS. The Chur¢h is fortunats to have a rea50Dabl¢ l¢vel of RNwYc& Thc sma]I sury)lus rc¢orded on the Church budget for 2024 meant that the￿ was no r4uirement to call on thes¢ Res¢Tves to support day to day nkmin8 ¢05ts during 2024. There were no major fab￿ projects d￿Ing thp year. The wst of maiotsining and running our buildings does repr¢s¢nt an iocreasiD8 share of overall chU￿h expenditllre with th¢ recent past. This AS mainly due to enqgy ch￿8eS staying at W lev¢ls as a result of ¢xtml economi¢ factors. AIthou8h energy costs were sli8htly lowcr in 2024 compared to 2023. they 81ill amounted to £27,820 compared to £IOJ47 in 2022 reflectiD8 an almost trebling in costs. The Cburch has ken steps to reduce ener8y COD8umption and ba8 entered into new ¢ontr4¢ts for el¢¢tri¢ity and gas supply whi¢b will provtde some financial benefii in 2025. TR￿ wa8 tho £12,812 spent on ODgoin8 fabric ¢xFndItU￿ to maintain thc Chu￿b, the Church Hall aThl th¢ Mans¢ which was a sn￿1 r¢th￿On on the amount 8peDt in 2023. There h88 kn conliDued progress on agreein8 Options for Ihe re&veli4)ment of the Church Hall with work bein8 done in partn¢rsbip with ]nv¢rurie St Andrews Cbur¢h of Scotland, with whom the West Church AS now linked for planniog mattcrs. Each ChuTcb currendy has its own Church Hall. Un&r the Pr¢sbyt¢ry Property Plan it b&8 now been WllfiTm￿ that one of th¢ Hall8 Wtll n¢¢d to be disp¢ns¢d with iti the n¢xt f¢w y¢ars. The Kirk Se&sxon of thc West Church has be¢n reviewlng Ornions for the firture of the Hall and bas now agreed in principle that the Hall Should be disposed of. either tljrougb sa]c or demoltlion. Mattets are still at a very early sta8e, but th¢ fiTrt stcp in the pr(*ess (an asbestos survey) was complet￿1 in D¢c¢mber 2￿24. The West Church coLtinve8 to IK)Id b8Jan¢¢8 wfftthiti th¢ D¢Yclopm¢nt Fulld to support this project in due covrn¢. In¢ome from l¢ts was £7,155 in 21r24 ¢ompared to £13,087 in 2023. The d¢crea8e catt partly be ¢xplain¢d by the closure of the Hall for extern￿ l¢ts meaning that all lets J)ow bave to be aCCOmDiodated in the Church buxlibD8. It AS also the case that some groups who previously used our f￿llitieS are now no long¢r op¢rntill8 whilst oth¢r8 now meet ViTtw8lly wh¢n before Covid tlKy would hav¢ m¢t iti pcrson. The Acorn Centr¢ had a go¢)J year ID fllwKial lenn8 in spile of havin8 to d¢al vlith continued levels of irfflation on food Costs and a larg¢ uplift in the National Minimum Wagc for the s￿ond year in a row. Hospitslity tskitigs ww¢ g(￿ throughout the year and ended up just below the level r￿Orded in 2023. Some price illcreases bad to b¢ implementrd ID 2024 to reflect the hish¢r ¢08ts of the Centre, but the attempts to str&e a balanc¢ betwKn maiDtsinthg footfall and cov￿ltig (x)sts. The Qntr¢ is still v¢ry well used and attracts vpry p03itivc f¢cdback Ukntu (our Fairtrad¢ shop) ¢ontinues lo opernte and r¢¢orda a surplus for the year of £1,999. The Ubuntu MaDa8er r¢tir¢d iD early 2024 and has l)een replaced by a up of Con8r¢gatioD81 memE¢rs who WO￿ on a volunlary bksis to (q)erate aod manage the 8hop. CaBh balances recoyded a Small ineffase of £3,051 in 21r24. Cashflow is still rarethlty managed for th¢ maiti C&urch bank accouot and the othu bank accounts beld by the vaTiOUS funds. At th¢ end of the year totsl cash balan¢e8 wff¢ £251,510 and rcmain in a healthy posi¢iofy although a proportion of the balan¢% relates to fimditig held to support the redev¢lopm¢nt of the Churcb Hall. The Cburcb bud8et has been set for 2025. Due to a numbeT of new cost pr¢&sures for 2025 we have not been abk to set a budget for the year whirh balances In￿Me aod ewnditure. The main factors 8jvin8 ri8¢ to this FM)sitioo 4t¢: l. An increw in the '￿1Ving to GrovP' contribution to the celltrdl Chur¢b of Scotl8ty1 of £7.534 compared to 2024. Th¢ contiibutioa is b&%d on the figurgB fiDm the Church A￿￿nts for 2023. 2. An 6.73% iDorase in the National Minimum Wage from A￿11 which will increase PayToII costs by almost £3.5CKI. 3. An increas¢ in the requ¢$ted Fa￿1( I￿￿get of £6.6￿) compared to 2024 refl￿tillg the need kn undertake a survey of the Church spir¢. 4. An adjuthent for one off Funth7ising efforts and donations received ill 2024. 5. Increas¢s ia the lev¢1 of Presbyt￿ Du¢8 and COU￿11 Tax compr¢d 10 2024. The overall Chur¢b budget for 2025 projects a defictt of £J9,223. Although it AS deficit bud8et, it is al a lower level than the Chureh budget that w8s set for 2024. This position WAII eontinued to b¢ ¢ov¢ted by using Church R¢s¢rves. However. setting deficit budgets at this level is not financially sustsinabl¢ in th¢ IoD8 term Jnd Some fI￿ther diffi￿lt cknices will still A*¢d to be consider¢d by the Kirk Session to $af¢guard thc r]Daucial p)sition of the Cburch ID the mediun) to long¢T tern e8pecially in relation lo us¢ of Chvrch IwildiD8& In tbe curr¢nt uncertain finaD¢ial climate, Chuwh'8 finaticial po8ition will oDtiDue to d¢rKnd largely *)n th¢ ¢ontiDUiD8 S￿￿XIrt and ¢onimi¢ment of ihe Con8re8ation togcthcr with & finall¢ial Frfornwice of th¢ AL￿ Centsr. Rlth Management The tntstees have identified that the principal risk5 and ul￿ertaIntieS facitig the Chur¢h are: l. An ageing and declining congregation Jn order to minimi8¢ the iM￿t of an agcing COnBTcgation and a dr(y in u￿b￿S tbwugb illne&8 or deat& the tn￿8 have e8t&blished a Mainly Music Group which m¢ets weekly durin8 the school tffln. The Group is very popuJ8r. OD¢ of the aims of th¢ Group is to &velop and d¢¢pen relatio1￿hlpS with yOUDg families who b#ve & connection with the ChU￿h and also those with no Church links. In addition to this proie¢l, we ¢ontinue to inv¢sti8•te wayj of d￿clopIng our Sunday n)orning services to welcome and attrll¢t th¢ youoger 8enerntions. We are also strivtDg to p)rovidc service5 to assist thc elderly to attend S¢rytc￿ of worship and ¢bu￿b events by. for e￿9Mple, wovidin8 2. A r¢duction in resular 8iving. Regular giving has increased in both 2024 and 2023 COM￿rnI to 2￿22 bvt Givin88 are still below bistorical lev¢ls refie¢tin8 recent falls in th¢ COn￿gatIonal roll. Givin88 ar¢ monitored on a monthly bL%is which provi&s an Op1￿1￿lty to bIin8 to tbe trustee$, attention any SAgnificaot changes to our ruw￿la1 situation and where appTopriat¢ takc wly action to n)iti8ate any finan¢iAI chall¢n8es. 3. Buildin8 repirs Inven￿1¢ West Church h&8 rw)onsibility for the Carc and ffepair of three pioperties. Re8ular ￿SsMent of th¢6¢ propert1¢8 16 ¢arried out and any work rwired is done tim¢owly. The Chvr¢h and Manse are well maintain¢d but our Churrh Hall is not in the 8am¢ condition and has a considerable requirement for backlog mainienance. The KI￿ Session 48 trnstees bave now made a d￿lsiOn in principle to dispose of the Church Hall, ¢ith¢r t1￿0￿gb Sale or d¢molition. DiMssAoll8 ar¢ at an early sts8¢ to agree the best Option for disposiog of the Hall. Re8￿￿1ng ov¢rnll n￿]ntenanCe of the Church's buildings, we do have 0080iJI8 annual maftllt¢nan￿ contr¥ts in place for boikr S￿VIC]ti& fir¢ alann8, fir¢ extinguishers. lift maint¢D8D¢e, and window 1¢4Ding. 4. Data l>rotection Th¢ trustees are Aware of the importance of protecting pern￿1 d4t& tn order to minimise any risks whi¢h may ￿8￿tt in the loss of dx all Offic¢ B¢ar¢ hav¢ bccn trained in Ihta Protection principlr5. PerswJkn& du•t*ltrthcfflo ye ICr*ltcrfs lallry •7*TW￿ yow 101 1913W, ,Th• *ind•rfth• ¢iwrftr. ,itrin5bl¢ied Inccffla .T•tsl ¢h#rftrifvnd• "' 191 'Ih kw• OFF￿j ty t￿* on 11th MArGh 2025 d ti*Jf 14 StateD￿nt of C••h Floj Year Ellded 31 Detember 2024 .'N•i ¥••d Iwj •p•r4ilng *¢Uvi ¢•th iiaw•lrom Inv•alno *¢Ovlfj•• '.Ptyriws¢ as6•ts ",M•t C4th y•vld•d ty In¥•*Yhg ￿￿115 "C•sh iiwsfrom •cW¥NI•s ",N•l c•th prtyhdfrd by ocdvlll•• Chthny kn c•th ¢ath eqU￿•1•nI$ in IhD y*•r 15 Invernrie Wmt P•riJb Chureh A¢counlinE Policxs Th¢ wincApal a¢¢0￿11￿8 policie4 which knve been applied WDSiSt¢nily in the current and preceding year in dealing with items which are COJL8idernl matsrial to the accounts, azE Set out below. ij of preparation Th¢ financial ststcments have been rnrpr¢d in accordance with the Accounting and Reporting by Clwitic& Statcmcnt of Recommended Pr&tice applicabl¢ to charities prepmg their accounts in accordance with the FiDan¢ial Reporting Standards applicable An the UK and Republic of Ireland (FRS 102) i8su¢d on 16 July 2014 attd the Fin￿￿JaI R¢wting Standard applicabl¢ in th¢ UK and RepubIi¢ or￿¢￿d (FRS102). th¢ Clwiti¢8 and Tnwtee Investment (Scotland) Act 21KI5, and The Chariti¢y A¢c(wzts {ScL*laDd) Re8ulatio￿ 2(K)6 (as amellqkd). Fund aeco•nling FuDds are classified as either restrA¢ted funds or unrestTiCt¢d fund6 defllwd as follow8. Re8trActed funds are funds subjeet to specific Tequirnents as to their use which may b¢ dec]aTrd by the donor or with their authority or created through legal processe4 but still witlJAll tIL¢ wi&r obJ￿ts of th¢ clwity. End0￿￿llent fimds ar¢ funds whicb have been given on th¢ Conditi￿ that the original capitsl sum is not reduced, but the in¢on¢ there fr(Mn is used for the pujposes defined ID accordan¢¢ with the objects of tbe charkty. unrestTict￿ funds are expendabl¢ at the di8¢retion ofthe tTUSt¢es in fiWtherW￿c of tbe obj¢¢ts of th¢ ¢baTity. If ￿rtS of the unr¢stri¢tsd fimds ar¢ eattna￿ed at the discretioo of th¢ trustrts for a particular putpose) tW att desi8llated a8 a ￿Parnte fund. This (ksignation has an administralive purpose 80d do¢s Dot kgally the tru8tr¢8' discretion to apply the fund. ]nconx is recognised when the charity has eDtiti¢llKnt to the fimds. any ￿rfo￿anCe ¢ondAtiow attached to the item(s) of income h4v¢ be￿ me( it is probabl¢ Ibat the An¢om¢ will b¢ r¢¢¢ived and th¢ amount can bc rn¢asur¢d r¢liably. Rextsurett expende41 Expenditwe is T￿OSD15¢d an accnuls basis as the liability is in¢¥rred. Donated #trvites fAcilitie Donat¢d professional services and d￿ated faciliti¢B ar¢ r¢¢ognised as income when the d￿lty has cothl over the it¢m, ant ¢ondition8 associated with the donated item have been meL the receipt of economi¢ benefit from the w¢ by the charity of the item is probable and that economic benefit can b¢ rne￿￿ed reliably. In accordance with th¢ Charities SORP (FRS 102) the generdl volunteeT lim¢ of ¢on8r¢gatioJ) members is not T¢¢O8ni8ed. 16 On receipL donated professional service8 and (knmted facilities are recogni8ed on the basis of the value of the to th¢ clwrity which is the anM)uDt the charity would have been willing to pay to obtsiti services or facilities of equivAient ¢conomi¢ benefit on the open markol a cryonding arnoullt is then rwo8oi8¢d 08 ex￿ndItuTe in th¢ iod of T￿lpL Interest Yeeelvthbk Interest on funds held on deposit is included when ￿e1v&ble and the amount can be asured reliably by the ¢lwity" tbi5 is nornially U￿￿ nthification of tbe int¢r¢$t paid or payabl¢ by th¢ banL Fked As*ts Th¢ ¢haTity and kn8 the Jigbt to U8¢ ￿ its clwitable objects certain langible fixed a8sets, including the Church. Church Hall and a rnanse at I Westburn Place, IDveTurie. The title to these properties 18 vested in the Inv￿￿1¢ Church COng￿gati￿￿I Board. No consideration is payable for the of these assets. Expeudltu￿ ill¢UTr¢d on the repw and n￿l￿tenance of these a&8¢ts is ¢bawd as resou￿c5 cxpcndcd Ati the stst¢m¢llt of fina￿la1 ￿tivItieS in th¢ petiod iti whi¢h the liability arixs. The properties of the Church are valued iti the Accounts at OpeD Market Value. based on professional valuation8 obtained on 9 Jvty 2008. Th¢ exceplion to this ig the manse at I W&stburn Placc, ]nvcrthie vknich is shown at a Tru8te¢s valujtion EAs¢d QD the original purdase price. All tangible fixed assets costing ID exce85 of£s,(MN) haviJb8 a value to tbe charity 8Tratsr thaD QDe y¢aT, other than those acquired for spe¢ifi¢ puys, aye capitslise Depreciation i5 provid￿ oll a straight-lin¢ basis to write off the cost or iftitial value. less residual value, of tangibl¢ fixql &￿¢18 over their estill￿ use￿1 lives: Kitchcn Equipmettt Fixlur¢s, fittings and offic¢ equipment Church Manse Church Hall 5 ￿arS 50 years 25 years No depreciation is provided iti th¢ Accounts in r¢spert of the main Church building on the g￿￿ndS that it 18 ov¢r yegrs old and wxll retain value provid¢d tha¢ an adcquat¢ kv¢l ofmaintenance continU¢S to k cafficd ovt The Trnstee8 will T¢Vi¢W this on a regular b￿s. Fixed &85Ct inveslm¢nts stst¢d at nwket ￿Ille atthe balance st￿1 date. Unrcalis¢d gains and IosBes represent th¢ dIff¢r¢ll￿ bctw¢¢n the market value at thc b¢giDning and end of the fin￿181 year or. if pur¢ha8ed iti tbe year, the diffcfftK¢ between cost and majket value at the end of the yw. R¢alised gain5 and lo ryresent the differ￿ lknv¢¢n the proceeds on disposal and the market V4h￿ at the start of the year orcost if pur¢based tti the year, 17 TaxalloD Invenwie West Parigh Church is recognisal as a charity for the puryxjses of applicable taxation legislation and is therefore not ￿bJeCt to taxation on its charitable activitie& Th¢ Charity is ￿t re8iStcred for VAT and re80urccs expenikd th¢r¢for¢ include irrecoverable input VAT. 18 Notes form?Mz part of the finan¢l41 •ts¢tmeDts for the y￿r ended 31 December 2024 .' !" .' ÈI•M• 4OJ12 19 forming part of the fmancial 8tattmtttt• for the year ended 31 December 2024 2515 2515 IT7120 ÈXE￿￿1￿ cfr•Ar*knxihlUX￿£ts8.?8q OQ3É?K￿Iti1￿*1Qh£lYT.146W Notes formithg part of the fiM8netsl itst¢m¢nts for the year ended 31 December 2024 6,Slaff co* and nmb•rnj__-_ jscthl oecwlly 6710 512991 Thè d8mWcrya8s thJrtwJ the yw, ¢*uL•teAI ￿ I ,tAsls of a haad c￿nt. was as ￿llY￿¥S￿__.__. _. ...__.._ emF4tyee h*1 ban￿15 In excess crf£50.fAIO12023 nS1)j.._.._._. .._ IAII CIKYch of Sccl¥KI ¢onwagatknnB cc¥lfbut• to th• NalkThl ,,sti￿d Flmd V￿Ch begrB Iho costs rfall mirastorB' Stlpffid$ lthMI. PAiMt¢ts* stlpth¥J8 are pavj in xecfthca *fth tho .Mllin8i slIp￿* scalo. wtdch b related to years dseplce. F(¥ ts I yew rthiew thg mlthwn $tlp8Thi £31,642 maxlmwn stIF￿￿1 (ln 5th an(1 yews oi$8nlc8) £38.884. -jTru*• R•mun•rntson •nd R•￿Ild ￿rty Trnns•¢lion• Durlng thé year. the blhiv+irvJ expwtses T8lmtrAM¥ad to Ihg -LMlrl8w, th8 ICtyxKII Ta¥ MorAe 3Cfj3.541 lidrl S8sslon CJa*l ￿ expoMe8 r¢imbJBed I￿￿"￿ year of£5&95 ty 8xydiiure trKurr•J on tfjttgit '4n any ¢(x*iact c¥ t￿aCtk1Tr enttrwl knto lry th•rlty dwlTri It• ! IYW. year a tc441 c1£1l611 dCma1￿ lo 21 Not¢s formlng part ofthe flDanclal statem¢nts for the year ended 31 D￿ember 2024 IWJl8 41rJJ 407M', .iiK*IEi The Kirk S￿l0n holds the entire shareholding of the A￿rn C¢Dtr¢ (Inverwie) Limited, a company inCo￿Orated in ScotlaDd under reBi8tered number SC333855 and haviD8 its Ye￿ end as 31 December 2024. The ststed aim of the canpany is to support its parent orgatiisalion, loverurie West Parish Chur¢h (IWPC) by rneans of disburm¢Dt of its entir¢ profit to IWPC. At 31 Decemi*r 2024 the company had N¢t A5￿ts of £l,IK)O and Retained Profits of £Nil, aft¢r disbursing the sum of £37.541, which amounl is rcfl¢cted as income in these accounts. Collwuently. DO group 8ccounts have been prepared. The Directora of the compaDy are the Chair of the A¢orn Centre Management Group and Session Clerk of th¢ W¢st CbuTch Congregation. 22 Notr$ forming part of the fittanrial st•tements for the year eBd¢d 31 De¢¢mber 2024 11888 11 931 12529 75 ..N•t*•i•t•A Ji 0•62024 ".thh rdy ar￿M￿h clth• xthlly wjd t• uwt40 lo¢iY￿￿ 23 Noteg forming part of the flnan¢hl Statements for the yt*r ended 31 December 2024 IloM)on I ITnn5Fe R•#isrl•dlur 5n)', I lH￿￿eP￿Wert¥.FUDd ose of Restiieted F￿d9 Th¢ John Bothwell B¢qu¢st: This fiwd p￿VId¢S resOU￿¢S for ChtistiaD education and Junior ￿￿r¢b activities. Development Fund: This fund provides the Tesouff es for the red¢velopm¢nt of th¢ Church. West Cburch Guild: This fimd 8UPPOrts the activities of the Guild. which is a con8regatii)nal organisation. Ubunth: This fimd 18 8cneroted from the fiir trade shop located within the A¢om Centre. Funds are used to support th¢ aims of fair trade. osc of Desi ated Fund The Heritsblc t¥operty Fund: The Trustees have estsblislied this fund to introduce the heritable properties of the churc￿ Church Hall, the matte at I Weslburn Pl￿¢, Inverurie into the Church's baJBnc¢ sheet. ',Add t*k depiEu*lon C￿9• ,' 153762) 21494.. .'OBthKt I wjd iwk h)ssts M iTr•lm•rti l {w351.. 'Ditr•as¢ stuck | 4174: ,Net Cath U*d ITr Op•rnlng *diYll•s ' Note 16 Colkedomi on Behalf ofThird P•rties Dwillg 2024 there was two retiTill8 colkctions." A ¢ollection of £39) for an Isr￿1 I Palestin¢ app¢al. A Harve3t F¢6tival Se￿1¢t Coll￿tion of £340 which was equally split ithycen th¢ Abcnleetishire North Foodbank and Cbtistian Aid (£170 each). Nots 17 Dtpolits with Chmreh of S¢od•nd At the 31 Dcccmber 2024 IDverurie West Church h¢ld amounts of £212,608 ' de￿&1¢ a￿unIS WAth the Church of Scotland. 25