THE CHURCH OF SCOTLAND- PRESBYTERY OF EDINBURGH AND WEST LOTHIAN TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Number SC017076
THE CHURCH OF SCOTLAND . PRESBYTERY OF EDINBURGH AND WEST LOTHIAN TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Pagos Trustees, Report Auditorfs Rewrt to the Trustees stalemenl of Financial Activities Balance Sheet 10 Slalement of Cash Flows Accoufiting POlieS 12-13 Notes to the Financial SlaterrEnts 14-19 List of Trustees 20-23
THE CHURCH OF SCOTLAND- PRESBYTERY OF EDINBURGH AND WEST LOTrIIAN TRUSTEES, REPORT FOR THE YEAR ENDED 310ECEMEER 2024 The Iruslees pr8sent theii reFth and finantial statements of the chatity lor thg year ended 31 DecerniEr 2024. The financial statements have bgen prepared In accordan wilh (he 8(xounting policies s81 out on pages 12-13 arKI cornply with the General Assembly Regulations for Congregational Finance, fft8 Charities and Trusteo Invèstment IScA)Ilandl A¢t 2005. the Charilw A(Eounts (Scollandl R8gulations 2006 las amend) The Charities SORP IFRS 1021. ObJDctlv95 and Pgrformanco The aim ol Ihe Church is to share in the Minislry of Jgsus Christ. It is a eondilion of m8mb&rship that a p8rson requiras to bg admitted on profession of faith, and membership and orfin8tion as a minist8r, 8ld&r or daacC Is a (equirement for p8C1p3.0n In Ihe Courts ol the Church. Howev8r, worship is open to all as is thè provision of paslorJl wpport and indu&on Church-based community activities. Tho Church of Scotland has an "open" communion lablg to members of y branch of the Church. Outrgach is for all, and noljusl mwnbers. Thls Presbyi¢ry Is In hislorlcal conllnulty with the Church of S(xJlland. whlch was Tefcrfmed 1560, wh088 liberties lhere ratified in 1592. and for whose 8ecurity provision was made in the Treaty of Union of 1707. Th& purposes of the Church afg lo offer Chrk%tlan bwrshlp, fellowship, Irb5truction. mk8sk)n and service.. lo laiK)ur fu Ihe advanc9menl ofihe Kingdom of God throughout th8 worfd that all may know God Ihe Fatherthrough Jesus Chris( His son, in the power of Ihe Hojy Spirit,. And to bring lh8 dinanCeS of religion to thè poople Mlhin its parishes. In furtheranco of th6s8 PUrSeS. Piesbylery 6nwuAges and supports th& ngre92"0nS within rts area to provide fac11hies for Worshlp, Fèllowship and the enriching of Community Life, to provide regular opwrlunities lor Worship and Celebration aAd the teaching of Ihe Christian Faith, and also lo provide pgstoral Ca to the people in the parish in lirnes of dtfficulty, illngss, bereavement, crisis and Str.. and in every parish. through the Ministry Team to offer spiritual counselling, advu, and SUprt to anycK)8 ling in Ihe parish and prowdè appropriale Ceremonies lo mark or lebrate 5pe¢ial points in life including baptisms, m8rriag8s. funerals. as w811 as the celebialion of local or national events such a8 Thanksgivings and Remembrances. Cor@regations also Pfovide soc18nd reueational facilili8s for groups of all ages wthin tha Community. Presbytery also makes donations lo supwrt the WO of religious and charit8ble bodies in Edillburgh and Wesl Lothian. Presbytery Is actNely involved Chrisban d. the Hosplcg Movemenl, Fresh Slarl and olhers for the relief of IM)melessnes5. Grant Making Policy Grants are paid out In accordance with the obj8Ctwes ol the charity. The Irus189S Wll5id2r that al payrnents made during the period fall within the conslitLrtion. The cArcumst8nces of applicants for 8id are reviewed by Presbytery bofor& a decision is made as to whather or not a grant $h¢uld be madè and, if so. lh9 amwnl ol Ihe grant. Standard application forms are used ft)r se wishing to apply for a grant whlch provides informatk)n requlred by the Iru5tees to decide on the merits of the application. During Ihe year Presbytery ha5 paid (or wmmitted to payl 9rants of £271,84012023.. £96.2391. AchVernents and Performance Presbytery offats pastoral support and pastoral SUpeNsn lo ministers and other full-time workers in parishes-, by P8rtiThpalin9 in the Church of Scotlalld Discemment and Training pro(*sses lor those call8d to full-lime and part-time ministries., by SUprtsTrg th& Irainlng and enabling of local mini51ries Carried oul by m8twtsts of QWgfegations, by the ovision of sutport toi thiklren's and youth woikers., by SoUrn9 support for local mlssion iniliative8,' by dealing Wth applicalions frt)m ecxigregalions lo repair. after or exterd cles18S{lCal buildings., by serving as a channel of communication b8twÈ6n the Councils of the Gèneral Assembly and congreg8tions. Future Activilies It is our plan and intelllion to manlain and enhance the WO ol Presbyte, and seek to rats6 adequate finan¢e to PTOV(de these SeiceS in the future. Presbytery is promotin9 work amongst the hom¢le88 and other good works. Prèsbytery, through Irdining and n6w initiatives, will segk lo rèach tsjt lo the peOe in new housing areas curienlly being constructed within thè boun(Ss of Prosbytery. In m8ny areas of the Presbytery there is 8 go(x1 lev21 of working together wlh other Christian denomlnations and this wl1 be fflore of a focL6S in luture. As Iwal Councils work towards a new vision lor the area the Pre8byt&ry will $ng8ge with Iheir planning proress6& Flnancial Review Th8 rèsults for the year are as sèt out In the Statomenl of Fin8nTh81 ktivili8s on page 9. Piesbytery reS its core fundino from its member C¢gation$ and Investment Income lo pay for its general ¢xpendtture. A grant of £126.0(X)12023'. £120.0001 was rel1vad from The Church of Scotland. cons6quènlly a net deftcit of Sncomo over expenditure b8for8 gains on investments arnountino lo £5.717 {2023'. surplus of £15,171) was realised on Unreslrictwy and Designated funds. This defidt has been tsken into a)Unt bèfore ¢duJlating core funding for 2025.
THE CHURCH OF SCOTLAND - PRESBYTERY OF EDINBURGH AND WEST LOTHIAN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal Review (¢ontlnued) Thls yearfs Accounts tnduded an exceptional one-off event Mth regards incoffle from the North Merthiston Fund 1£172,3581 which was PreoUslY held by Church of Scolland General Trustees. This rnon8y is to be received in 88rfy 2025 Irom Church of Scotland G8neral Trustees and rt has been agT@8d to dislribuie these funtts tsaeen the congregations ol the Presbytery in 2025 vla grants lor mission. Consèquently bolh the irromo Subsequent gr8nl pay outs regarding the North Merchiston Fund have been accrue(l into these Accounts. Investment Policy and Parformance The value of Ihe portfolio at 31 08cember 2024 was £2.673.541 Cornpad with £2.484,863 at 31 Decernber 2023. The cost of Investmerts al 31 tknember 2024 and 2023 was £1.743,238. There were no realised gains or Ios5e5 during the year12023.' £Nill and unrealised gain on revaluatM)n We £188.67812023.' gain £162.91. Tha unrealise(S gaiTrsll(BSeS are due to mark&l concems. Pr8sbytery 58oks lo provide grwng ineome and long-lemi intse in the value of c8Prtal, lilksing Ihè Church ol SrA>lland Irwestors Trust and their investmènt managers. The Church ol Scotland Inveslois Trust Growth fund is very krgdy equity-based and is inten(Sed fr)r long term investment. Thè Income fund is inlermled for medium-term investment and aims to prowde immediate high income with funds investèd predominantly in fixÈd InleSt seDJiiliès. riag the year ended 31st Decembei 2024 the lolal retum of the Gr0h FutKJ was 11.eiJ% me85ured against the benchmath index of 16.30% and on the Income FuTrd 6.81¢h compared with 5.10¥0. Risk Policy PrinGipal Risks and Uncertainties The Charities and Tste Investment (Scollandl Ad 2005 requires us 85 Iruslees to wnsider the p8TceNgJ Nsks and Uncertainli8s facirhg the Charity ffhe Rule) and the $1gps we take to milig8te those risks (Our Prin¢lplesl Risks Include: Docllning & ageing mèmbership - falling membership has an impact upon governanco and upon iTr(x)me. A (all in iricomè of conoregatk)ns will reflect uw>n the inD)me of the whole Church and individual Presbyteries. Declining membership reduces lh8 number of those persons wishing lo adlvè in badership al 811 lovp15 01 govemanc8. Drop In numbers of FTMVIS - There has been a drop In th8 number of pe&8ons Studying lor Full Time Ministry in Word and Sauament and an increase in ietirals on grounds of a. Covid-19 Pandemic- Covid19 has aff1ed the way in which ngregaon$ Prosbytery ffleel for worshlp and for Ihe business of Presbytery, over the la lour years. The dise8sg has impacted upon inter alia how we wCk and meet, how w8 gDvern. how we manage He811h 8 Saf¢ty issues, how we wmrnunicate and how we report. Thère has been a rapid development in on-ling platForms ol o)mmunici¢)n, vthlch in itself is a gift but bring8 Wlth it new risks and cha118ngès. and rules atNyJl data prolecfion trj bè obseived. Failurg to u$¢ our ReseNes Prgsbytery has significant reserve8 set aside to fund MissK)n, Ihè Fabric of ChLKch bUilg$ and the provision of 8ursari6s. Aertne88 to thg ol congregatn$ within the bounds of Presbytery is 8 reqUite for the proper usa of funds. Finances - The prfindpal financial risk is conwdored to be Ihe security of investfflents and the ability of Ihos8 investments lo gen¢rale sufficient funds to enable the charity to covgr such axpendilure as may not be (x)v8red by conggatiOnal assessmgnts and contributions towards staffino cosis. This risk ha5 been addiessèd by invesliro in Church of ScoNand Invastors Tnjsl funds and dep1[$, which are considered to provkla an appropriate b818nc8 tween income and thts sèeurity and growth of capital. A(klilional lo that financial risk is Ihg uncertainly sutroUryJit th& Central core funding provmjed to each Presbylery from the Assembly Trusl8es11.e. the ceniral church) after 2026. The pmision ol services provkjed by Ihe Presbytery at the current lev81 wimjld be at Fisk il there was a wilhdiawal of core fundin9 by the central church. In additson to th8 use of the norpinvested funds hekl in the general reservos, adjustments to servic4 provi$ion and slaffirg would Theed to be cons[de in mitKJalion lo the loss or re(Jction in Lx)re funding levèls after 2026. In mitigaOn of these Rlsks Th8 thjectives and perf0Mr ol Presbytery Sel out above coupled wilh the Five Marks of Mission. to Tell - Teath - Tend - Transfom) - Treasure. our wnoples for the iwenty-fifsl ntUry. guKle us in wr approach lo monèging risk and avoiding (X)mFA3nCy.
THE CHURCH OF SCOTLAND- PRESBYTERY OF EDINBURGH AND WEST LOTHIAN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 ReseTves Pollcy Unrostrlctgd Resèrves It is Ihe policy of the Trustees to hold general reserve5. represented by nel cutr8nt assets. SLttrKienl to ¢x)ver costs until CX)ngregalial assessments aro received. At 31 OeGember 2024 tho net Sssèts tsn General Rese8 afflounled lo £487.17912023.. t475.2571 ineluding investments valu8d al £220,027 {2023.. £2r)1.0591. It is intention of th8 fnjstees to use the Tr)n4nve5t1 eletTt8nt of £267,152 to redu wnowational assessmtsnls over the comiThJ years. Designated Funds and Restricted Funds The purposes of the design818d and reslricled funds aro sel out In notè 12. Tho wlicy of lh8 Trustees is to expend the income oflhgse funds aeeordance with the purpDses of the funds. Structure, Governance and Management Constitutlon The PresbyE8ry was fomi&J in the late sixteenth century. A Presbytary hs the characteristic and fundam6ntal (x)urt of the Church of Six)lnd sincè it not only diract supervises miri6st8rs and Kirk Sessions bul also alects Ihose who form the Ger£ral Assembly. The G8n6ral Assembly is the highest uJJrt of the Church of Sco118nd, and rt detemiines operath.onal matiers lor all CgregationS wilhin Presbyteri8s. Thè Pr¢sbytery consists of the ministers and psentatiVe elders. from the corrfJregations in its aroa, who have rgspon&ibility for church activity within ils own boundarie5. There ai8 also elders, callèd 8quali&ng elders chosen by Presbytery lo make sure Ihal r81ir&d an(J specialist minislefs entitled to membership ol the Court do not cause minislets to outnumber Ihe elders in its membership. Commissh)n8d el¢Jers are el8ctsd by their own congregalion. PrSnclpal officg.beargrs ond Key managemgnt p¢r¥onnèl remuneration The principal office- bearers are Ihe Presbytery Moderator, who is solectgd annually, and tha Presbylery Clerk. The Piesbyiéry Clerk is charged with the runnittg and operating of the charity on a day-ltsday basis in oTdanCe wtth de18galed y)wers of authCty frorn Ihe trustees. The Clerk is assisted by the Deputy Clerk. PresbyLery Administratoi and the Presbylery Treasurer. Th& Clefk, 08pvty Cl¢rk and Treasurer are IfU$teg& and racewe remuneration and axpènsas dtrtoils ol which are discloswj in nole 7 to the finartial staternenls. Reitmont and Appointment of Tru8tèe$ Now m8mbars of Prosbytory re1ve an induction coursa lo expla the 51ruclure 8nd praCtIS of PbYtery. As elders wilhin th8 Kirk Session of their ir¥Jividu81 cOngglOn they have confirmed that Ihey." belleve Ihe fundamerbtal dtfine5 of Ihe Christian Faith. promise to seek the unity Bnd peace ol this Church,. uphohj the doctrine, worship. ernMent and disciplin8 thgr80Tr and lo take their due part in thg admintstration of its affaivs. The lfjik Séssion Is a group ol people Irotn th8 wngregation who make the major deusion5 Wthin Ihe¥ own church. The indudion (x)ufses to explain th& 3tructure and pra¢ti¢es of Presbytery are 8UPPOrtgd by tha availabilty of spèdoligt tr8in¥rs.
THE CHURCH OF SCOTLAND-PRESBYTERY OF EDINBURGH AND WEST LOTHIAN TRUSTEES, REPORT FOR THE YEAR ENOED 31 DECEMBER 2024 Conduct of Business Presbytery meets six OT sevgn timès In a yoar. Belween mÈÈlings Pr&sbyiery business is carried DUI by several )mmitt88s. ATrTh)n9sI other thus. the business of Presbytery indudes setting parish iK>undaries. delemiining h(w many congregations and ministe15 there may be wrfhin ils tKunds, and dealing with ser¥i¢es for ministers coming to or departing from its bound8. It has supervisory responsibtlitl8s for congregations, ministers and also for Students who are in training for the mIntry. Both as a court and also through its var#)us committees tt deals wrth a wide range of issues including education, social woth, church propety. finance. inteT-¢hurth ielatiDns and the Church's misston in Edintsjrgh and Wesl Lolhian, Scotland atKI overseas. Th& Presbytery is th9 Court of appeal lor all matters whh arè daah wilh by rk Sessions. as w811 as having the power to review dec&sior7s al congregational rneetings. Each cOneaLlOn visf(ed once in every fivtryear peri¢yJ by members of Prgsbytery (who arp known as PresbyleTsI. when tts spiritual well-bging 8nd ngregatIonal activitigs arg examined. The objecbvo is to encourage and advise the ftNnister, Kirk Session and (x>ngfegatiDn, and to draw lo thoir attention any rn8tt8rs whh appoar to be uns81i5factory or not in accordance with Churrh law. In addition to appointrng General Assembty Commissioners. Presbyteries have polenlhql changes to Churth 189islalion senl down lo th8m by the Assembly for consideration under the Barrier Act. This Act, which dales from 1697, is designed lo pr8vsnt 8udd¢n major changes in the mosl import8nt areas ol the Church's li18. 11 r8quir6s Ihal al least hall tha PresbeS musl approva the proposed new legislatt(M) before it can be brought to the next Assembly to be passed as an Act. Many aspeds of Pr¢sbyt¢ry business are dealt with by standirYJ MMIttee8 who pr858nt thelr reports to P$brI al the r9gular tlleetiTh3s of Presbytwy. The (x)mmltta&s are as follows: BusirEss Faith Nurture Faith Impact Deploymenl Records Nomination Property Financ6 othgr Reports Piesbytery also listens to reports. fr(¥n tim8 to time. from Christian organisalions and others on many aspects. After rfIscus3ton. comment and q¢Jestions, repoFts are approved or amended and Ih8r&8ft&r form the basis offuture action plans. Reference and Admlnlstrativo Information Prlnclpal and contact address 4 Redheughs Rl93 Edinburgh EH12 90G A fvll Ilst of mombors ol Presbyiery (Trusteesl is shown on pages 20- 23 Auditors R L H cra1 BA CA CTA Jefffey craWfd & Co. 25, Castle Terrace Edinburgh. EH12ER Bankars The Bank of Swuand George Street Edinburgh Charltable Status Parpnt Charlty The Presbytery is reOn1$ed as a tharity in Scotland. ISC0170761 ChurGh of Scolland ISC0113531
THE CHURCH OF SCOTLAND . PREsBERy OF EDINB URGH AND WEST LOTHIAN TRUSTEES, REPORT FOR THE YEAR ENDED 31 OECEMBER 2024 statement of Trustaes. Responslbllltles The TNsEees arè reswslblo for prgparing tha Trustee5' Report and the financial 5tatèrrEnls in acctsrtsnce with applicable law and Uniled Kingdorn Ac(xFunting Standards (United Klnodom Generally Accepted Accounting Piathal. The law applicablo to ChanIS in Scolland requires the Trustéés to PT6pare financi81 stalements for each finanaal yeaT whth give a Irug and fair view ol th6 slate of affairs of th8 charity and of thé incDming resources and application of resour& of the charity for that per¥Jd. In preparing these financial statements, Ihe Trustees are required lo.. s¢lecl suttsble aintIng policies and ihen apply them )nsistentfy- observe tha methods and principlos in the Ch8ri1yès SORP., mak8 judgèments and estimatès that a reasonable and pnJdent-, stale wh&ther aPpIable accounting stantjards have been folk)wed. 5ubjeci to any othoT material depathres disdosed and explained in the financial stateents. prepare the financial statements on a going nCOM basis unless it is inappropriate lo wesume that Ihe chartty 11 continuo in busine$$. Thé Trustees arg resnble for keeping accounting records that disclose wilh ie350nable accuracy al any time the rin8lloal SK>sllion of the charity and enable Ihern lo en5uie that the financial statements compty th& Charities and Truslee InvesttF*nts Iscollandl Act 2005. the Charities Accounts (Scolland) Regulations 2006 las gffléndedl and the provi$ of the charity's const(tulion. Th8y are also responsible for safeguarding the assets ol Ihe charity and hen for taking reasonable steps for the prevention and detection of fraud or other iriegul8rities. Slgned by th• [der of the Trustee5 on June 2025
THE CHURCH OF SCOTLAND-PRESBYTERY OF EDINBURGH AND WEST LOTHIAN REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES Opinion I have auditèd the financial slatem8nts of the Presbytery of Edinbur9h I'the charity'l for the period end8d 31 Decembor 2024 which compiise th8 statement of financial activities, the balance sh9Èt, st8tern8n( of cash flows 8rxY notes lo the financial stat8manls. In¢luding a surnmary of slgnificanl 8¢counting policies. The financial repoiting framewo that has been applied in Ih8ir pieparatK)n is applicable law and United Kin9dom Accounting Standards. including FRS 102 'The Flnancial Reporting Stsndard applicable in Ihg UK and Republic ol Iieland. Iunited KiEvJdom Generally Accepted Accounting Practicol. In ffty Opin tfrE financial slatem•nts.. gNe a twe and fair view of the state of the charity's affairs as at 31 Oecember 2024 and of Ils Incoming rosources and application ol 18sources. for the perK)d Ihèn ended.. have been prop&rfy wepared in accordanrK th Uniled Kingdom Generalty Accepted Accounttng Praclicg.. and have Wn prèpaied In acoJTdance Ythh th& requlrem8nts of Ihe Charit1$5 and Trustee Inveslmenl (SLX)118ndl Act 20DS and regUlatn 8 of the Charities Accounts ISco118nd) Regulations 26. Basls for opinion I conducted my audit In aCrdanCe with International Standards on Audiling IUKI IISA5 IUKII and applicable law. My sponsibilities those standards are further descfibed in the Auditors responsibilities for the audit ol thè financial stalemenls sectK)n of my report. l am indep8nd8nt of the challty in acwrdan¢è with the ethical rgquirem8rils that ala relevant to my audit ol the fInarla1 slaEements in the UK. including the FRG'S Eth11 Slandar(S, and I have fulfilled my other ethlcal resrM)nsibilities in accotdance wilh Ihe5e requirements. I believe that fhe audit evidence I have Obtained i8 suificienf a1 appropriate lo provide a basis lor my opinion. Conclusions rèlatlng to golng concern I have nothing to F8W)rt in respect of Ihe foll¢Mru matt?r5 in felabon to which ISAS IUKI require me to report to you the trusiegs. us& of the gDiru (xyjcem basks ol accounling in the FK8paration of the financAal statements is not appiDpriate' or thè trustees have disdos8d in th& financxal stalements any Klenttfied material ururtainties that m8y cast signifnt doubl Bbout the charity'$ abillty to continue to adopt the golro o)ncem basis of acc(KJnling for a perfod of at least twelvg rnthS fvom the dale when the finanNal statements are aulhorised for issue. othèr intormatlon Th8 IFUStees a responsible lor the olher inf0rnia1n. The other inf(Ymation mpriseS the information includ¢d in tha annud report. other than the ffinanckgl statsmts and our Report of the Indopandant Auditors th8reon. My opinion on the firkanaal statements does not ry)¥èr the other intofmatlon arbj l (k) not expres5 any 1M of assurance conclusion thereon. In conn8cts.on with my art ol the financial staten*nts, my responslbilily is to real th8 Other Informatlon and. in doing so. On5Kler Nvhèlher Ihe othei inforfftation is malersally irKonsrstent with the finanoal statements or my knowledge obtainod in the 8vdit or otheThvise appears to be materially misstated. If l identify gwh mat$rtal inconsisienuos or appargnt material rni5ststemants, l am required lo deterfflinè whether is a male¥ial misslalement in the financial $teMentS cx a malorial mÈsstatenient of the other information. If. based on Ihe work I have performEd. I cfflcbJde that there is a material misstslemeTrl of this other information. l am wuired lo report that fact. I hava nothltvJ to raport in this regard.
THE CHURCH OF SCOTLAND- PRESBYTERY OF EDINBURGH AND WEST LOTHIAN REPORT OF THE INDEPENDENT AUDITORS TO THE TRLETEES {Gonllnued Mattgrs on whlGh wo arg r8qvirèd to report by excèptlon I h8ve nothing to rep in res¢1 of the following matter5 where the Charilies Awunts (Scollandl Regulat4ons 2006 las amended) requires me lo report to you if, in my opinion: information givèn in Iha Rgport of thè TrLFslges is trnsiStant In any rnalerial respect with the rinarrial statements- or propel adequate accounting records hava not been kept.. or Ihg finan¢iBI statemcnts are nol in agr&emenl wlh th9 8¢(x)unting records and relums: or we have not received all the inlormation anLI explanations we r8quire for my audil. Responslbilitiej of trustees As explained more fully in thg Statement ol Trustees. Reynsibtliti8S, Set out on page six, the InJst8&s are resp(sibl8 for the preparation of finana31 statements which give a Iwe and fair ¥w, and foT such internal control as the trust deterlT is nessary to enatAe piepar8tion of financial ststements that are free from material misstatem8nl. whelh due lo frdud or ellor. In prar the finanrAal statements, the INslees awe restx)nslble for assessing the tharivs ability to Lx)nlinug as a going conGetn. disclosing. as applicable, matters related to going concern and using the wing nM basis of aceounling unless the tru¥tees eilh&r intend lo liqul¢Jat8 charity or to Cgase op8rations, or have no realistic altemalive bul lo do so. Auditorf5 rèsponslbllltles for Ihe audll of the flnancial stat?monls I have been apKM)inted as auditor under section 44{111¢l of tho Charities and Trust99 Invastment (Scotland) Act 2¢X)S and roport un aceudance with Ihe Ads and rol&vant regul8tions made or having effed Ihereunder. My obledves ar8 to ob18in ieasonable assurance atstyut whetrr the financi81 statements as a whole are free from mat¢rio1 misstatement, wh¢ther duo to fraud or grroi. and to issue a report ol Ihg indepèndent auditors that indudes my opinion. Raasonablg assurance is a high level of assurance tKJt is not a guarantee that an audit conducted in a[dance with ISA5 IUKI will always deteGI a material misstal8menl when ti exists. Misstatements can arise Irom fraLKI or error are con5MJered material if. i[1vidual or in the aggregat8. Ihey couhj reasonably be 9XP6Cted to influence the 9(x)nomk declsknns of users lak8n on thè basis of thesg finan1 stalematts. A lurther descriplioll of our resrKJnsibilities for Ibe audit of the financial statem8nls is bcated on the Finala1 Roportir Council's website at wiYw.fr¢.org.uklauditorsr08ponsibiliti6s. This deguiption forrTh% part of our repLWt of lh8 ind8pgndent audilors. Us• ol my report This report is madg solely lo the charity's trustges. as a body. in accordance With section 44111 Icl of the Chafities and Truste& Invgstment IS(x)Iland) Acl 2005. My audit work has been undertaken so that I mioht stale to the chaity's trustees those matters l am required to state to Ihem in an auditoi's report and for no other purpose. To the fullest extent petrnitted by law. I do not acGtspt or assume responsibility to anyone other than th8 thartty'5 trustees as a body, lor (Mjr sudil work, for thi5 report, or for th8 opinions I have form8d. lor and on behalf of Jeffrey Crawlord & Co Chartered A¢wuntants and Staiutory Auditors ElIgie to ad as an audiloi in lemis of Sedion 1212 of thè Companies Act 2006 25 Castle Terrace Edinburgh EH1 2ER
CHURCFI OF SCOTLAND PRESB YTERY OF EDINBURGH AND WEST LOTHIANT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Note Unrestrlcled Deslgnated Restricted Fund¥ Funds Funds 2024 2023 Income and gndow(nents from: Donations and legacies Charitable 8Ctivities Investments Exceptional and Other Totsl Income 104,013 126,000 19.428 20.000 124.013 126,otx) 96,243 172,358 518614 95,957 120,000 78.357 1.442 295 756 3.471 73.344 172.358 265 702 249.441 3,471 Expenditurg ori: Charitable actwities 256.487 2.142 229.061 271096 Total Exp8ndlture 256.487 229 061 487 690 271096 Net Income (Expgndlture) before galns and losses on Investments 17.046 1,329 36,641 30,924 24.660 Net gains (losses) on investments Net Income {Expendlturel 18.968 169,710 206 351 188,678 219.602 162.299 186.959 TraferS b01wegn Funds Transfers in Transfers out Not movemenl In funds 11.922 1,329 206.351 219,602 186,959 Rgconclllatlon of Funds: Total funds brought fOard Total fund5 carrled forward 475.257 65. 2.344 148 2.885.401 2 698.442 12 487 179 67 325 2 550.499 3 105 003 2 885 401 The Charity has no recognised gains losses other than Ihe results for the year as Sel out above. All of the activities of the charity are classed as continuing.
CHURCH OF SCOTLAND PRESB YTERY OF EDINBURGH AND WEST LOTHIAN BALANCE SHEET AS AT 31 OECEMBER 2024 Notes 2D24 2023 Ftxed Assets Tangible Fixed Asset5 Investments 501 1,002 2,673.541 2.484,863 2.674.042 2 485 865 Current Ass8ts PT8payments Accrued I[Me Church of Scolland InvestOTS Trust- Deposits Cash al bank and in h8nd 4.300 172.358 411.175 379,768 50,629 430.397 613 553 Llabllltks Creditors: Amunts falling due within one year 10 182.592 182 592 30,861 Net Current Assets 430.961 Total As58ts le55 current Ilabilities 3 105.003 2 885 401 The funds of the charfty: Restricted hjnds Designated fvnds Unieslricted funds 12 2,550,499 2.344,148 67,325 65.996 487,179 475.257 3,105 003 2.885 401 The notes on pages 12 10 19 form part of thes8 accounts. Thes8 financial staternents were approved by Presbylery on 171h June 2025 and are signed on their behalf by.. Treasura 10
CHURCH OF SCOTLAND PRESBYfERY OF EDINBURGH AND WEST LOTHIAN STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2024 Notg Total Funds Total Funds 2024 2023 Not cash provlded (used) In operating actlvltles 14 Cash Flows from investing actlvities Interest and divldends Purchase of fixed assets Purchase of Inveslrnents Proceeds Irom sale of irTrve51ments Not cash provlded by Investlng acttvities 96.243 78,357 78.357 Chang8 In Gash and cash equlvalènts In the year 6,498 50,255 Cash end cash equivalents brought fOard 430.397 380,142 Cash and cash equivalents Carrled forward 436.895 430,397
CHURCH OF SCOTLAND PRESBYTERY OF EOINBURGH AND WEST LOTHIAN ACCOUNTING POLICIES YEAR ENDED 31 DECEMBER 2024 The Presbyiery of Edinburgh and Wesl L0thn is an unincorwrat8d Charity (SC017076) registered in Scotland. The chBriWs administrative information can be found on page S. Accounting pollcles The principal accounting policies, whlch have been applied consistently in the currenl and preceding year in dealing with items which are considered material lo the accwnts, are set oul below. 8as1s of preparatlon The financlel statements of the tharity. which is a publ1¢ benefrt entity under FRS 102. have been prepared in accordance with the Charities SORP {FRS 1021, Financlal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and tha Charities and Trustee Investment IS¢olland) Act 2005. The financial statements have been prepared under tho historical cost Gonvention with thg exc&plion ol investments which are induded al market value. The organisation constitutes a public benefit entity as dèfined by FRS 102. The financial statements are prepared in sterling, which is the fundamental currency of Ihe charrty. Monetary amounts in these financial slalements are rounded to the nearest £. Assets and liabilities are initially reeoynised at historic cost or transaction value unle8S Othemse slated In Ihe relevant accounting pICY note(s). Going ConceTn The Trustees consider that there are no material uncertainties about the Charity's ability lo continue as a going ncetri a5 sufficient reserves are available and the future activities of the charity can be Bdapled to the available income. Fund accounllng Funds are classified as either restricted funds or Unrestrted funds defined as follows. Restricted funds are funds subject to Specific requirements as to theif use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Unragtricled funds are expandable at the discr81ion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are eamiarked at the discreti of the trustees for a particular purpose. they are designated as a separate fund. The designation has an adminislralive purpose only and does not legally restrict the Irustees, dlscredon to apply the fund. Income Income, induding legacies and grants, is ree(xJnised when the charity has entlement lo the fijnds. any performance o)nditions attached lo the ilem{s) of income have been mel- il is probable that the income will be received; and the amount can be measured reliably. Expèndilure Exponditur8 is racogftlsed on an accrual's basls when a liability in incurred. Expenditure indud8s any VAT which cannot be recovered and is reported as part of the expendilure lo which il relates. Charitable expgnditure comprises those costs incurred by the charity In the dellvery of Its activilies. It includes both costs that can be 811ocated dlrectly to such 8Ctivllles and those c0515 of an indirect nature necessary to support them. Dlrect (lS are charged lo the relevant fund and support Gosls are charged to the general unrestricted fund. Grants awarded by the Charity are recognised when the funds are committed. Govemance costs indude those incurrod in the governan of the charity an¢J Ils assets and are primarily 55ocialed with statutory requirements. Donatsd servlces and facilitles Donated professional services and donated facilitieg are recognised as income when tha charity has control over the item. any conditions associated with the donated item have been met, Ihe receipt of economic benefit from the use by the charity of the item is probable and the economic benerrt can be measured reliably. In accordance wrth the Charit5 SORP {FRS102) the general volunteer Ilme of congregational tnembers 15 not recognised. 12
CHURCH OF SCOTLAND PRESBYfERY OF EDINBURGH AND WEST LOTHIAN ACCOUNTING POLICIES YEAR ENDED 31 DECEMBER 2024 Donated servlces and facilities (contlnued) On receipt, donated professional services and donated facilities are rgcognised on the basis of the value of the gift lo the Gh8rity which is the amount the charity would have begn willing lo pay lo obtain sgivices or lacililies of equivalent economic benefit on the open market. a corresponding amount is Ihen rec(yJnised as expenditure in the period of receipt. Interost recélvable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity.. this is noTmally upon notification of the interest paid or payable. Flxed assets Tangible fixed assets. costing in excess of £2.()0. are depreciated over three years less estimaled residual value in equal instalments. Slgniflcantjudgoments and estimates The Tw51ees are of the view that no significant judgem&nts or estimates were appl*d in the preparation of the financlal statements. Investments Fixed asset inv8Strnents are staled al market value al the balance sheet date. Unrealised gains arKI losses represent the difference belween the market value at the beginning and end of the financial year or. if purchased In the year. th8 difference between cost and the rnarkel value at the end of the year. Realis8d gains and losses repiesent the diffeience between the proceeds on disposal and the rnaet value at the start of the year or cosl if purchased in the year. Mixed Motive Investments are staled al cost less impairment. Taxatlon Presbyiery is recognised as a charity for the purpose of applicable taxaln legislation and is therefore nol subject to taxation on ils charitable activities. Presbytery is not registered for VAT and resources expended therefore induda irrecoverable input VAT. Flnanclal Instruments Financial assets measur8d 21 fair value are listed investments. Financial assets measured al amrtised costs Include cash at bank, trad8 and other debtors and awnjed income, Finanrial liabilities measured at amortised C051 are suppliers, provisions, aGcruals and accrued pension Gosts. PeTr¥ion scheme The chartty operates a defined contribution pension scheme for eligible emptoyees under th8 pension regulations. Conlributions payable for the year are indLKJed In expenditurg. Leases Costs in respect of operating leases where subslantialty all of the benefits and risks of ownership remain with the lessor, ara charged on 8 Strai9ht line basis over the term of the lease. 13
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Donations and Lègacles Unr85trlcted D•slgnated Restrlctod Funds Funds Fund5 2024 2r123 Congregatksnal Assessments Legacles 104,013 104.013 20,000 20.000 20 000 124,013 95,957 104013 Income from donations aThY legacies was £124.01312023-. £95.957} of which £104,01312023.' £95,957> was unrestricted. £Nil (2023.. £Nil} designated and £20.01)0 {2023'. £Nil) restricted. I Income from Charrtable Actfvitles Funds received from Church of scOand 126.000 126,000 120.000 126000 126 000 120.000 Income from charitable aclivitlgs was £126,000 (2023-. £120.000} of which £126,00012023.. £120.OCN)} was unrestricted, £Nil12023'. £Nil) designated and £Nil {2023.' £Nil) restricted. 3. Invastmgnt Income Inveslors Trust Deposit Interest Investors Tfust Unit Trust distribulions Casue Cornmunlty Bank Interest 14,772 4.656 3,471 4,033 22,276 68,096 72,752 1,215 1,215 14.033 64.325 Investment Income was £96.243 {2023: £78,357) of whil* £19.428 (2023.. £12,329) was unrestricted. £3,471 Designated (2023.. £3,564) and £73.344 {2023.' £62,464) was restricted. 4. Exceptlonal and Other Inry>me North Merchiston Fund Olher Income 172.358 172.358 1.442 172 358 172.358 Other Income of £172.358 {2023'. £1.4421 of whith £Nil12023'. £Nil) was unrestricted £nil12023= £942) designated and £172,358 {2023.' £500) was restricted. Total Incom0 3,4T1 265 702 518 614 295 756 14
CHURCH OF SCOTLAND PRESB YTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 5. Analysls of Expenditure Unrestricted D95ignated Restrlcted Funds Funds Funds 2024 2023 Ch3ritabl• Actlvities: staffing Costs Salaiies- Presbylery Office- and othèr benerrts Fk)nofaria Ernployerf5 National InSUran- Less Employerfs Nlowance Employer's Pènsion Conlribulion8 Clerks, oxpanses 143,801 765 8,319 17.580 3,836 174301 143.801 765 8.319 17.580 115,481 4,370 5,510 17,508 2.430 174 301 Accommodation Prèsbytèry off Prèsbytery rneetings Insuffjn 1.032 5.072 1.348 1,032 5,072 1,348 3.289 1.576 Oth•r Costs Prole55iDnal F8eS Payroll Administralion ststK)n¢ry. Telephone and Po8tsge Int8mat and Websile Olhei Expenses Travel Expenses Communications Co-ordinator- Feos Ctsmmunicalions C[oIdin8t0r- Cosls ofzwm li¢*n¢es elc. Depredalion 905 1.843 1.069 930 2.126 7.150 491 501 015 1.843 1,069 930 2.126 7.150 491 501 1S.015 1.548 1.271 2,083 2,332 6,5 993 500 Pastoral Care Chaplains, Fees Consultants. lees and Rocffi Hire 1824 2.824 3.103 1,823 3.843 Grants to Congregations and Othars Parish Mission Gr8nts Training Courses Fabrlc Grants Property Inspections Fees and Bull¢Yings Officer Dev¢loynenl Fund Projects Bursaries to SbJ(lents- Bursary & D&an Fund Doan FuThJ Grants DeveloFxnenl Fund- Grants North e1Chst0 Furyj - Grants for Mission 7.820 539 12.000 19.820 539 15,0) 2.000 35.254 3.000 10.410 30,065 510 32.278 32.278 10,203 34,5(M) 10,203 34,500 2,142 172.358 2,142 172,358 229 061 Support Costs- Governance Att09 I Independent Examinerfs Fee Accountancy and Bookkeeping Fees 6.000 7.155 6.000 7.155 2,8C4J Total ExpgndSture on charitse AcfiYitl•¥ 25Q487 2,142 229 061 Expenditure on ch8rit8ble actwitlgs and Support eosts was £487,69012023- £271,096) of whith £256,48712023.. £214,111) vras nrestn"d?d, £2.14212023.' £3,510> vas d9gnated and £229.061 12023.. £53,475) was r@Btricied. 15
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. Staff Costs ond Numbèr$ 2024 2023 Salaries. honoraria and wages National Insurance (Net of Emph)yer's Allowance) Pension Contributions 144,566 8,319 17,580 170.465 3,836 174301 119.851 5.510 17.508 142.869 Expenses Total 145 299 Funded by: Contrlbulion from Church of Scotland Presbytery 126.000 48.301 120.000 25,299 The average number of employ8es during the year. calculated on the basis of a headcount was 5 (2023.. 5)- 7. Trust Remuneratlon and Rolatgd Party Transactlon$ Twstees who received remuneration for their work during the year, together wilh ieimbursemenl of exp9ns8s in compliance with the General Assembly Regulations, are as follows: 2024 2023 Presbylery Clerk - S81ary, Nat.Ins. and Penslon Contrsbuuons. Presbylery Clerk- Expenses Treasure¢s Honorarium Depute Clerff - Salary, NaLlns. and Pension Contrrbutions Depute Clerf(- Expenses 67.486 63,240 2,430 4.370 765 24,133 1,792 Three {2023 - Two) Presbyters are ChatAains lo Ministgrs. They receiv9d honoraria during the period lolalling £2.824 {2023- £1,823). Three oth6r Presbytgrs received travel expenses totalling £1.89012023 £2.105). There were no donations to the charty from Trustees in either year. 8. Fixèd Assets Computer Furnllure equipmerht Total C05t al 1 January 2024 Additions al cost Cost of deleti¢Jns 3,982 1,275 5.257 Depreciation at 1 January 2024 Charg8 for the period Deletions Depreciation at 31 Decombor 2024 2.980 501 1.275 4,255 501 1,275 4.756 Net Bwk Value al 31 Decemb8r 2024 501 501 Net Bk Value at 31 Decemb9r 2023 16
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 g. Inv8stnnts 2024 2023 Market value at beglnning of year AdditnS at cost Gain (Lossl on FevaluatK)ns Market value at end of year 2,484,863 2.322.564 188,678 2 673 541 162,299 2 484 863 Investrnents at Cost 1.743.238 1743 238 Unlisted Investments Investments in units of the Church of Scouand Investors Trust. Capital hekl by Presbytery.. Church of Scotland Investors TNsl-Growth Fund Church of Scotland Investors TnJs-Income Fund 2,135,367 508 174 2,643,541 1.951.284 503.579 2.454.863 Mixed Motive Investmonl 31.675 £1 Oeferred Shares- Capital Communty Bank - at st 30,000 2.673 541 30.000 2 484 863 This asset is cLgssed as a 'Mrxed MotN6 Investmenf Ixing a Social Investment made in part to furthor tho charitable F)urpose of Presbytery and in part to generate a financial retum of 30/0 p-a. No market value is avaSlable therefore the asset is carried forward al cost. 10.Cr•dltors 2024 2023 AccnJ81s Credllots North Merchislon Fund - Grants to paid out 9,500 734 172.358 182 592 5,370 25,491 11. Analysls of net assats between funds 2024- current year Unrestrlcted Deslgnated Restricted Funds Funds Funds Total Fixed assets Investments al market value Currenl assets Currenl liabilities 501 220,027 276,885 10,234 487,179 501 2.453.514 2,673.541 269,343 613,553 172.358 182,592 67 325 2 550 499 3,105,003 67.325 Analysts of net assats baèen funds 2023- comparativ8 yèar Unrgstrfcted Dgslgnated Restrlcted Funds Funds Funds Total Fixed assets Investments al markel value Current assets Current liabilities 1.002 201,059 304,057 30,861 475 257 1,002 2.283,804 2,484,863 60,344 430,397 30,861 65 996 2,341148 2 885 401 65,996 17
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12 Movement In Funds 2024 - Gurrent year Opgnlng Income Balancè Inv. Galn (Lo$$} Expense Transf8r Total RoStri¢ted Funds Sludenl Bursary Fund Martin Harcus 8ursary Fund Fund for Churches. Fabric Mission Resourcing Fund Fabric Loan Trust Dean Mission Fund North Merchiston Fund Wester Coates Fund Total Restrlctod Funds 80.902 177,806 40,778 80,636 443.590 1,159,018 1.925 4,230 21.127 2,643 10,913 43.724 172.358 361418 8.782 2 344 148 265 702 7,577 16,654 3,729 5.460 40,152 63,330 11.915) (4.2081 88.489 194.482 65.634 88.739 494.655 1,227.492 {38.5801 {172.3581 12.000 229 061 391008 2 550 499 169710 Designated Fund Presbytery Development Fund 65.996 65.996 67,325 2,142 Unrestrlcted Funds General Furbd 475.257 249.441 18.968 256.487 487 179 Total Funds 2 885 401 518 614 188.678 487,690 3,105,003 Movement In Funds 2023- comparative Openlng Income Balance Inv. Galn {Loss) Expensfr Transfgr Total Restrlcted Funds Student Bursary Fund Mclrtin Harws Bursary Fund Fund for Churches, Fabric Mission Resourcing Fund Fabric Loan Trust Dèan Mission Fund Wesler Coales Fund 74.970 164.732 38.955 73.793 403.027 1,092.659 339.054 2 187 190 1.699 3,733 907 2,106 9.171 37,634 7,714 62.964 5.924 13,020 2.916 4.737 31,392 63,830 (1.691) 13,679} {2,000} 80.902 177,806 40,778 80,636 443,590 1,159,018 361418 (35.105) 11.000 Total Restrlcted Funds 2344 148 Designated Fund Presbytery Development Fund 65,000 65,000 3,510 3,510 65.996 Unrestrlcted Funds Ggneral Fund 446 252 228.286 14,830 214.111 475.257 Total Funds 2 698 442 295 756 162299 271096 2 885 401 18
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Restrlcted Funds Purpose student Bursary Fund and Marbn Harcus Bursary Fund Thg SUPPOrt ol persons gtudying for entry into the Minislry of the Church of Scotland. Fund for Churches. Fabric and The Fabric Loan Trusl Asslslance with fabric costs to congregations MIS0n Resourcing Fund To propagate the Christian faith within the trf)unds of the Presbylery. Dean Miss1 Fund To make grants for mission prse$, work among the homeless aThJ thg SUPPOrt of theological education in Indla and Bangladesh. North Merchislon Fund To make grants for mission purposes and il has been agreed to provide funding on an equal basls lo each ¢x>ngregalion base(J on the 2023 list ol presbytery assessments Ipdor to unlons commer)citvJ). Wesler Coales Fund The revenue of the tund is applied for financial support of ministerial assist8nce. D8slgnated Funds Presbytery Development Fund The fund offers opporlunilies for developmont projecls within the Presbytery Plan. 13 Volunto91$ In common with all presbyteri8s of the Church of Scotland, Presbyiery ben8fits from the contributions made by volunteers who give of their time and talents willingly for the benelti of Presby1ery. The areas of the life of Presbytery which rely on the contribution of members are varied and much actlvtty would unable to continue were it t for the commitment shown. 14 Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2024 2023 Net movement in funds Add back depreciation charge Deduct inveslment income Deduct gainslAdd back losses on investments Decrease {Inwaso} in debtots Increase IOecrease} in creditors Kat cash provlded Iusgd) in operatlng activltles 219,602 501 {96,2431 (188.6781 (176.658} 151.731 186,959 500 {78.357) 1162.2991 25.095 89.745 15 Flnanclal Commltmènts Fulure minimum rentals payable under non-canceltable operatinglgases are as follows- 2024 2023 Within one year Aft8r one and befo five years 19,901 39.802 19
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CHURCH OF SCOTLAND PRESB YTERY OF EDINBURGH AND WEST LOTHIAN List of Trustees from 1st January 2024 to Date of approval of Report and Accounts
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND WEST LOTHIAN Llst of Trustees from 1st January 2024 to Datè of approval of Report and Accounts 22
CHURCH OF SCOTLAND PRESBYTERY OF EDINBURGH AND VIEST LOTHIAN Llst of Trustogs from 1$1 January 2024 to Date of approval of Report and Accounts 23