KIRK SESSION OF INVERNESS
FINANCIAL STATEMENTS
FOR THE PERIOD FROM
14 AUGUST 2022 TO 13 AUGbST 2023
CEIARII'Y NUMBLR: SCO17499

KIRK Sb.SSI()N OF INVERNESS
LEGAL AIND ADMINISTRATIVE INFORMATION
Charlty nAine Jiumber
Kirk Session of Invern¢.ss'. R¢gis1¢i"ed chai.ity nuittber SC017499
Ti'u5tees
'riie Trll%tees are Ihe i￿eMberS of Ilie Kii'k Sessiotts of Old High and St Slcplicns, Dalncigli & Bona and Inshe5
Congregations. The Insliei congyregaiioii enleitd a union on 1210312023 and fi.om Iliai date Wds knowji ds Invaness
Inslies East.
The liustees nomitktes wlio seiyed dui"illB the year are ds stated belew'.-
Old High Sl Slephen8- Interim Moderator, St Stcphen's Churdi. South5ide Road. Inverness IV2 4XA
Iishesl lttshes Easi- Rev David Seoit, 48 Redwood Crcscenl, Milton of Leys, Inveriiess IV2 6HB
Dalncigh & Bona- Interim Moderator, Dalneigh Church, St Mary's Avenue, Invemess IV3 SAD
Priijcipal OffL<e
FTame Kennedy CA, MeliY)politan Hoiise, 31-33 HEgh Stirel, Inveine&s. IVI IHT
Indep¢nd¢nt Ex&nilner
Stuart Mcmartin FCA. Frame Kennedy CA, Metropolitan House, 31_33 Higli Strcet, Invemes8, IV I IHT
Bankei.
Bank of Scotland, 2-0 Eastgate, Mverness IV2 3NA

REPORT BYTHE KIRK SESSION OF INVERNESS
The Iruslees preseni their report and Ilie financial slalements fol. the pei'iod to13 August 2023, under s¢Ltion 8 of
the Cliai&lies Accoutils (Scoilaiid) Regulations 2006.
Hl8toryy objeetive5 and activities ofthe Ti'u5t
The Kirk Session (If Inveiness w25 COns1iluled lo manage and adiiiinisler religious and charitable piirw8es wiiliiii
the City of lrtvcnitss.
In tile c￿ryIng out of t]iepury)oses of theTrust tlie trustees liave the widcslJx)wers and diseirtion wtstli tlie exception
of tlie resli'itttd funds oiliti. Ihan Duncan's Moiyification. They iiiay manage rhe inveslillenl of thc ITl15t fund as if
Ilicy were the beneficial owncrs Ilicirof. Wiihoiil pirjudice tlier¢lo tliey rnay invest ITS bank Artd huTlding.qtstiety
sav&iigs accountsy governtn¢nt 5eLuI-Ilies and compatiy sliares. Furihet., tliey shall haire Ihe widest disciEtion ill rlie
use and applic￿(1011 of tlie lj'usi lund. In paitticulai Iljey may Jnake oiiti'ight gi￿lS of finaiice. loalls or ijiveslinents
in tlie fiirtlieixnte af tlic puiyoscs of Ilie Tn]sl. I'liey iiiay delegate lo sucli peiEon5 as they think are 511itably
qualified any maitcj. Irlatitig to the routine woi"k of tlic T7￿$t 2nd they may appoiiit one of their nujnbei. suithbly
qualifi¢d to act as bvIiLltor oi. accourttant 10 the Ti￿st and ot] the basis of payment of appropriate professional
reinunerdtiott.
Mgn¥g¢ment gnd gov¢rn8n¢e ayrangements
Th¢'frust¢es ar¢ the member.s of the Kirk Sessions of Old Hi￿] St. Stephcn8, Inshcs and Dalneigh at)d Bona
Churches. represented by tlie Ininisters of the cliui'ches.
In tlie event of tli¢ cariying out of the PUTP05¢S of the Tiust bccoming iinpos%ible or Impraciicable ill the opinion
of a majority of tlie tru%tec8, they may tlien wind-liy tlje Tnist atid pay and Inake over the trust fund to another
charitable trnst oi. instituiion Imving siniilar oi. appToximat¢ly similar pury)oses but always only if sucli ¢hai"itable
trust or institution would be accepted as chajitable wiihirt die Ineaning of Ihe Income l-ax Acts.
The Boat'd of Tiustccs have conducted a review of the majoi Eisks to which th¢ ¢h&rity is exposed. Wh¢iT
appropj'iatq syst¢ins or procedures have been established to initi¥ate the risks t]ie cl)arity faces.
ProteduYe.1 pollcy for grant making
The tswsi¢es noi￿11][Y Ineet bi-dttnllally 10 considei wljal giinls Iliey will niake and to irvieiv any feedback they
liave IEceived. Nominations for gi'ants aiE elicited by foi'rnal and infoi'mal nieans. Tlie tTUStce8 have 0 policy, whicli
is communicatcd to all bcneficialies. thatthey m2kt only one-off grani% with no guardntee% of filture fi]nding. Due
to the intention to wind up Uie ehariiy ineetiiigs look place witliiji Ilie ye2r and no funds were disbiii'sed.
Tlie trust has no employees and no unpaid volunteers. The fjnancial atTairs of the charity are nianaged by Frame
Kennedy who Att as secretaries and tsEasui'ers.
FrllNie Keiiiiedy

R Tr:POR'I' IIY THD. TRUSI'EF.S OTr THLP KIRII ,SE4 SSION OF INVERNEI SS
Achlevements and performanee of the Tyust
Ii'ing the yeai. tlie Triisl lias been unable to conliiiue ils 5UPPOIt of the nominaled rnembers tsf Ili¢ comnii￿1ty by
the issue of gT#nlS tn irtdividu21 meinbei¥ of the t()mrt)unity and to the two loclll churclie8 by way of funding an
element of Iljeir repairs.
FIrtAnclil revlew. Investment poll£y and reserves
The liuslees have sel a policy Ilial the expendable endowtnent should b¢ iDvested so as 1¢) nl#Xlln15e Ilie total TetUTII
Icapilal gi'owih plus income) witli a low level ot'risk. Tlie Jncome from invesbiients for die pei-idd was njl.
Total ictw'ji fiom tlic cxpcndable endow]neLIt is Split betweeii funds retained a5 capstal alld fut]ds used as incom¢,
aliliougli the IriLStees liave the power to Spend the expendable endowtnenl, Ilie irtveslineni capiial Js Ihe only source
of otjgoiiig iiicoiiit and so the fund is ittvcslcd with tlic 06jcctivc of cn8uriiig that Ihc expcndable ctidowtneiit rclaiiis
approxtmalcly ils Tcal valiic in mcdiurn Icrn]. TIITS appiDacli mcans Ilie moncy availablc to spcnd as incomc can
fluctuate and, ¢0 ensuie the atnouni #vail#ble for grdnls remains rela¢ively stable from year10 year, tlie Iwsiees plaii
10 hold between 3 10 6 months grant expenditure as free irserve8.
riuture Plans
As previously advised, the Tnjsl fi]nds werc amalganjated as at 13 TrebDJary 2009.
Due to chaii¥ed ciirumstartees wiiliin tlie Cliurclj of Scotland cotigiEgalions the tiustees intend to apply to OSCR
for a reslLiCted funds reorganisalion ol the I￿v￿￿e85 (Church of Scotlandl Chaii18ble Fund and the Duncan's
Mortification
Fi'ttiiie KeièiiedN

REPORT IIY I'HF,'I'RUS'I'￿.lfts or'rHF. KIKK SES.S1()N c>r INVERNE.SS
Siattiiielli of ti'u$t¢es' I'¢spon$lblll¢l¢s
The Trusiees are irspotisible for preparing the Trusle¢s' Annual Report and tlie finaiicial stat¢inents in accoTdanc¢
with appliublc law #nd United Kingdom Actountk)ncy Standai'ds {United Kingdom Generally Accepted
Accollnlirtg Piacticel
Cliarity law reqiiiies the IrLislees to i)IEpair finaiicial Etateinuts foi. eH¢h financial yeaT wliith show fj true and fair
view of th¢ Stale of affairs r)f the cliaiity aiid IL% fittÈnci&l aClivitie% for iliat period. In piEparing those financial
StateMert￿ Ilie trusiees are iEquired to..
select suitable accoujiling policies and then apply them consistently)
Obsei've the metliods and principles in tlic Cliarities SORP.,
lake judgeniellt5 aud estimates Ihat are i'easonable aod piu<kni'
state wljeihei applicable aecounttng UKslandards have been followed, subject to any departUiEsdisclosed
and explained in the financial statcmenL%' and
prepare the fillaiicial statements on Ihegoingconcern basis Unless itis in2pproprtaie topre8unie the cljarity
will eonlinue in opei'ational existence.
The ttustees ai¢ Tesponsible for keeping pix)per accounting record8 whicli disclosc witli irasonablc accuracy at any
lime ilie fjnaneial position of the cliariry and to enable tliem to ensiire the fjnancial statements coiiiply witli the
Charities and Truslees liiveslin¢nt (Scotlandl Act 2￿5 and th¢ Cliariti¢5 Accounts {Scoilandl Regulalioiis 200C?.
They ar¢ also F¢spon51ble foi. safeguarding tlic asse1% of the charity alld hence tor taking reasonable steps for the
prevenliort and detection of fraud and othei iri'cgiTrlai'ilies.
Independent Ex8nJiKei'
The tiusiees intend 10 ask Ilie existijjg independent examinei. to Ilndcrlake Ilie independent exaillination of tlie trust
in the following yeai..
This iEpori wzg appi￿Ved by the board on I l May 2026 and signed on ils belialf by the Iruslee.
Rev David Scott
Fi'aiiie KÈiiiiedy

i(tRK SESSION OV INVERNESS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTCI ES OF Kllilc SESSIOE4 OF ll¥VERNESS
I report on the financial statements of the charity for th¢ period to 13 August 2023 which are set out on pages 5 to
Respecfive respoknsibilitie5 of trustees ¥lld exami￿er
The charity's truste¢5 responsible for the prepai'atEoii of the finan¢ial ststements Ill accordance with th¢ tenns
of the Charitie5 and Trustee Investm¢nt (Scotlalld) Acl 2005 and the Charities A¢¢ounts (Scotland) Regulations
2006. The ch8rity trnstees consider that the audit requsrement of Regulation 10(11 la) to (c) of the Accounts
Regulations does not &pply. Jt is my responsibility to examine the financial statements as rcquired under section
44(1) (c} of the A¢t and to State whether particular mattel's havc comc to my attcntion.
BAsis of indepeudent exa￿l￿er,5 StAtem¢llt
My examination is GaiTied out in ￿e0rdance with Regulation I l of the Charities Accounts (Scotlan(t) Regulations
2006. An examination includes a review of the accounting re¢ords kept by the charity and a Gomparison of the
financial statements presented with those records. 11 also includes consideration of any unusual items or disclosures
in the financial 5tatemcnts and seeks explanations from the trustees Concerning any such matters. The procedures
u[￿ertakell do not provide all the evidence that would be required in an audit. and consequently I do not ¢xpre5S
all audit opinion on the view given by the financial statements.
tndependeut ex#￿iller'S StaterneDt
Jn the course of my examination, no matter has roffie to my attention
which give5 me reasonable cause to believE that in any material respect the requirements..
to keep ac¢ounting TeGords it] accord8nce with Sedion 44(1) (o) of the 2005 A¢t and Regulation 4 of the
2006 Accounts Regulations, and
to prepare the fInancial statements which arcoi.d with the accounting records attd comply with Regulation
8 of the 2006 Ac¢ounts RegulatÈons
have not been met, or
2. to which, in my opinion. attention should be drawn in ordw to enable a proper understsnding of the financial
Statements to be reached.
StU8rt McMartiTL
Fraane Kennedy CA
Metropolitan House
High Street
IJJv¢rne$s
Date: 11 May 2026
Frllme J(enite(ly

KIRK SESSION OF INVERNESS
STATTr",MENT OF FINANCIAL ACTIVITIES
Foi. the year ¢ndtd 1.1 Augu$t 2023
Restricted
Incorne
Re51ri¢ted Total
Capital
Funds
Total
iinds
13108123
13108122
Notes
{i'e-sluled)
INcomithg re8oui.ees
Bank iiiterest received
Otlier incoiii¢ received
150.346
Total irteoming rt%tsllr£es
150,346
Resoui'¢es Expended
Govalljance cost5
{480}
(4801
(480)
Total i'esour¢¢$ ¢xptndtd
{480)
(4801
(480)
Net resources expended before transfers
{4801
14801
149,866
Net moVe￿ertt irt funds
{4801
(4801
149,866
Total funds bi'ougihl fonvard at 14 August 2022
149,866
149.866
Realloeaiion of funds
480
(4801
Totgl funds carried foj'ivard at 13 August 2023
149,386
149,386
149,866
Fiupiie Keiiiiedy

KIRK SESSION OF INVCRNEI SS
BALANC.E SHEEIT
As At 13 August 2023
Notes
13108123
13108122
(re-s1¢71ed)
CURRENT ASSETS
Bartk
152,206
152,206
152,206
152,206
CURRENT LIABILITIES
LrtditoiE
2,820
2,340
NET CURRENT ASSETS
148,386
149,866
TOTAL ASSETS LESS LIABILITILS
149,386
149,866
FUNDS
Re511'icted Capila
Re%tricted- Incomc
149,386
149.866
149,386
149,866
Tlie firtaneial siateinents on pages 5 10 10 were approved by Ilie Iiustcs OD I l May 2026 aiid signed on their
bchalf by..
Rev David Scott
Fi'tt￿1£ Keiiiiedy

KIRK SESSION or iNITERNF.SS
NOTLS'I'O'fiiTr, ACCOUNTS
ACCOUNI'ENC POLICILI S
IntomlThg resollrces:
Incoine is accounted fnr on aii a¢cTua15 basis a5 far as it is prudent to do.qo.
Resoui'ces expended:
Graiits payable
GiJrtts payable are charged to the income and cxpcndituir account ot) tlie basis of tlie dat¢ of appi"oval.
Basis ofpreparatits
Thc accoullts air prepared Ullder the histori¢ cosi ci)nveniion, with the exception of investtnenls which are
slated at valuation, and in accordance witlj the slateineiiis of ReLominended Pracliee 'Accoiiiiiing and
Reiioitiiig by charjlies. issucd itt Mai'ch 2015 {SOIIP 20151 aiid tlie Charitte5 and Truste¢ Inve5tnient
{Scotl8ndl Act 2015.
T#x*tlon
As a rcgislcred cli￿]tY the T￿st is geneT#lly ex¢mpt from income tax alld capital gaiiis l&x but not from
VAT. I￿¢COverable VAT is irtcluded in the Lost of Iliose itetiis lo ivliich it ielales.
Investment8
Realised gaiiis and losses are takeji to tlie capital account. Inv¢sliiient incoiiie has been 18keJi into accotsttt
on the basis of tlie due date for payinenl
It)v¢stment$ $iated ai In￿'ket value in the balance sheet any iimralised gaills are tyken to tbe capital
aecouni.
Re-statement of 2022 Figures
Following the advice of OSCR and the Chureh of Scotlattd law departinenl, Ille It￿sleeS have elected to re-
orgalll.se Ilie fvTi(L8 held by tht chai'ity. The 2022 figure8 have bcen iE-stalcd to sliow ilie ti'ansf¢i' of all
bAlances back to the Kii'k Session Tat]iei' tknen belonging to tlie Inv¢rn¢ss IChui¢h of S¢otlandl Cliaritsble
*nd George DiincaD's Morlifi¢ation Furtd.

KIRK SESSION OF INVERiYESS
NO'I'F,S'I'O'I'HE ACC.'OUNTS (C.ONTD)
GOVERNANCE COSTS
The admiiiistiative expert8&q ineuired dllring the year were &s follows.'-
13A)8123
13108122
Independent ¢xamin¢T'S f¢¢s
Manageinenl Service Fee
200
280
200
280
480
480
OTHER INCOME
13108123
13108122
(re-sloled)
Transferred from individi￿1 furtd$
149.866
149,866
CREDITI)RS
13108123
13108122
(i'e-sittied)
Fratne Ker)nedy
Invemess ICliui"ch of Scorlandl Cliai'itable Fund
George Diincan's Mortification Flind
2,820
2,34to
Closin8
2,820
2,340

KIRK SESSION OF INV£1 RNESS
NOTES TO THE ACCOUIYTS ICONI'DI
CAPITAL
13108123
13108122
(pe-sluÉed)
Opening
149,866
Other Income
Manageinent expenses
150.346
(4801
(480}
Closing
149.380
149,866
CAPITAL ICON'fD)
Ltsss on
investiiicnt
disposal
At
14108122
Triinds
Incoming Outgoin8
Lo85 on
reajlocated r¢sour¢es L'esouiies revaluation
At
13108123
Ire-slulgd)
Cai)ital
hjnd
Incoine
fund
149,866
{4801
149.386
480
1480)
149 866
480
480
149 386