Kirkwall East Church Church of Scotland REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Congregatlon Yo: 452370 Charlty Wo: SC018002
KirkTrvall East Church SC018002 Trustees, Annual Report Year ended 31 December 2023 Tlie InbSieCS present the annual repon and accounts for the KIrk.all East Church. Church of Scoiland. for the year ended 31 Deccinbci 2023. Thc financial siaiements have been prepared in accordance with ihe a¢couniing policies sei oui on page_% 9 10 11 of the financial staicmenis and comply with the chariiy's dccd of ¢onstilulion. the Cieneral Assembly Kcgulalions for CoiibyreaI7ona] Financ¢, th¢ Charities and TnLSitt Inveslment IScoilaNII Aci ?IK15. Ihe Charilics Accounis (Scoilandl Rc¥ulaiion$ 21M)6 las amcnded) and Accounting and Rcponing by Chaniies." Siaiemcni vf R¢coDinicndcd PraLIILe appliLable 10 charities preparing ihcir accounts in accordance 1th ihe Financial Reponing Siand8rd applicable in Ihe UK and Republic of Ireland IFRS 1021 IEff¢eiiie l January 20191. ObJo<tlves XDd Attfviiles The Church of Scorland 15 Triniiarian in di)cirinc. R¢fOrn in iradiiion and Pr¢5byi¢rian in poliry. li exists to glorify Ood and io work for ihc odvancemeni of Lhrisl's Kingdom throughou( Ihc world. As a naiional Church. il acknowlcdgcs a disiinciivc call and duty io bring ihe OTdinan¢¢s of religion io ihe people in every parish of S¢otland Ihrough a teffitorial ii)Inisiry. li Lo-operaiLS wilh oih¢T Churches in various wurnenical bodies in S¢oiland and beyoTrJ. "Oiir prioriiies ar¢ W(Trrshhp and Outreaih. Ev¢rythin¥ we plan and do will refkci these prioriiies.- Aehlev¢ment$ #nd Perform#nee Kirkwall Easl is An outward Iwking and Inclusivc con8re8aiion. Ini¢rc51 Jn ihe widcr work of Ihc Church has bccn dcm¢)nsirai¢d by memb¢ Th. partiLipaiion in the a¢iiviiKb of ihe General Assembly of ihe Lhurih of S¢oi14ind. the North lait und NorthLm I1¢5 Presbyl¢ry. Kirkwall Cuuncil of ChuT¥hes. Isi Kirkwall Company of the Boys Brhgadc and ihe Mission Group. This Involve% bui is noi Iiniilcd lo supp)rting Chr151ian Aid. Ini¢rnalional Jusiice Mission. and Fairtrade. Thc widcr comimuniiy makc use of IliL Kin¥ Sircei Halls which arc availabl¢ for hirc by ¢OTnmunity 8roups and pnvaic indiNiduals. includiDB ihc AA. and the L:a%i Kirk I'i)ddl¢r8. Groups wilh delegated rcsponsibilily (Finance Lommiiiee, Propeny Commiiiee. Halls Mana¥em¢ni Cominiiiee. Mi$sion (if4)UP and Coiiiinunicytions Group). report io ihe Scs$ion with updates on Ihe work of Ihe 0p and any reques15 for deLisions ur 8uidanc¢ Iroln Scssion. Rcports are cir¢ulaied pnor lo s¢s5n meetings Iwhcn po%sibl¢l w lh fnn¢ deci510ns can bc iak¢n. To enable us io m¢ei our objecii%'cs and priorities we provide Worship each Sunday throu¥h ihe Worship Tcam IMinisi¢r plus l ? mcmb¢rs of lh¢ congre8a(ionl. A family com¢ io ihe scrvic¢s and ihc TThJihcr wilh h¢r ihrce children ihcn go down io Ihc Comer Ri)om lor a¢Liviries. W¢ are linked wilh Shapin5ay chh of Scoiland and hcld a joini Kirk Session mecling on the 16ih of Scpiember. The Minister leads worship in Shapinsay eN'ery 3rd Sundav 6nd ihe Worship T¢gm Ihen leads worship ai Kirkwall Ea51 which is challenging and deepcnin8 our faith experience. In lh¢ sch(K)I summei holiday riod. the Minister takcs IWO services every Sunday.. in Kirkwall .1 ai 10 am and 12 noon in Shapinsay. Every Sunday wheTC ihe minisier is oil anL)ual or siudy ILave. a guesi p#ther Icad5 worship. W¢ med in ih¢ church building for in-PCTson service cvcry wcek and wc sircatii i( live 10 YouTubL a5 WCII as ihrough our (kdicaied phonc line. Work is ongoirt8 10 updat¢ the use of projeciOTS and ihc sound yslcin during services. 'e had appeals lor funds for thc Malawi Music Fund and our pann¢rs in the Thyolo PTesbyL¢ry in Malawi 8s WCII aq a couplc of fundraiscr5 for the church funds. Pag¢ I
Klrkwall East Church SC018002 Trustees, Annull Report Year ended 31 De¢emb¢r 2023 Kirkwall EkL51 is a member of th¢ Kirk¥%all Council of Churches which encourag ihc churches irt Kirkwall to WO log¢ir. This work includcs the evcnis for Holy W¢¢k. includin8 ihe Wdlk olWilD¢&s on CJoTrJ Fr•day. M¥inbcrs of the congregation and her% who aitcnd worship and support thc work of knTkwall Easi cared for by ?5 paioral vi%iiors, The Pasioral Viiiturs visil ¢b¢ry household throug1 lh¢ year &liver pasioral c4rc a5 well as inviiaiions 10 ¢oinmunLOn. They k¢ep in tOULh uvei the phone and iu p¢rson. A ncM' saf¢suardin8 coordinalL)r h8s been appoinled this yer. As ¢COvcon¥re8aiion we explored the posgibility of i5[allIng &olar pancls on ihe manse r(wf. bui hai'e noi been UTranie pcrn1isIVn fToin ihc Orkncy IslaThJs Louncjl as the maNc Is In a conserv&iion atca. FinAn¢5AI Rei'lew TIIL prinLipyl svur¢es ol. Inconie lo%er £l.IM>D} for Kirkyall F.asi are otferings. made up of £5.94h ijpen plaie. £7.246 Trreewill Offerin¥ Enwelop¢s and £25.69< standing orders {InCludinn1nbYil0lIs l() Mission Grotspl - a iolal uf Ll%.Xll7. Tax rcfuNl4 and Clift Aid £9.384. Fundraisin8 Iin¢ludinB ihe plani.salci raiscd £4.359. Halls Inco £14.085. InvcMm¢nt incoine L¥.(b4O. Klll paymcrtis for the Manse 11111 £1.903. Di)naiions ioia1lld £3.604. ThL' tvial incom¢ for ?0?3 ats £81.577. Comp#rwJ io ihe Incon of £X5.206 in 207? Ihi5 IS o decrease of £.1.629. AlIM)UbTrh offLring% hall income hawe decrcas¢d. incomc from ini'estments has iTKrt&sed significanily du¢ io a rise in inlcrest raics and improi'cd %ioLk niarkds. ThL iiiajar iicnis of expenditure ioYeT 12.(KM)I for KiTkK'all East are Naiional Siirnd Fund paYmiLI £34.(MM). Iluilding Insurance £'.3.641, and Nl £15.464. Elcciricilv and 11•n8 oil £10.25¥. ReIT$,, replacemen1$ io Kin¥ SirLei Hallb. nat &. Ihe M4n$e £6.631. Fixiureb, fiitings & equipmeni addiiions. in¢l1n8 kiichcn and audio ¥isuo1 equipmeni. £0.5(b6. Tl)L toiul CXP¥Lidiiure for ?023 wa% £92.722. Compared io th¢ ¢Xdi1rC of £96.710 in 2022. Ihis is a dccrcasc of £3.98A. ON¢rall thiye wa5 a defi¢it of £4.370 in !0?3 coinpared to i defilit of £?*.9CKI In ?011 Plaiis io ihc bcque515 from previous years hav¢ now resunied and att ongoing Repairs io Cittrdcn R(K)m aiid Flat H'all% In 2024 arc Jnticipaicd 10 cosi £30.0. The in$rallanon of solar panels arKI baiiery. on the Manse w'ill cos( £25.000. I'he paynicni tOT the r)igi181 Or¥an will bc £37.IMX). Thrcc mcmbcrs tsf slaty are Lmplu%'cd. HiLlls Nfana8eY. organi81 and Dir¢ctor of P$¢. Auihorily has been @ranted 10 employ an a4S151anl carctakcr. but to da¢C w¢ havc )¢ been able 10 recruii anyone 10 Ihis rffjs(. Inwesimeni Pgllry and Pcrforman£¢ Invcsiincnt5 Are managed by the ChurLh uf S¢(Nland Inveslor5 TNSI - on &posit. for growth and fur iniome accordinB iu ihe reason for the funds being held. The finance ¢ornmiiiee r¢¥iew the per(unnance of the Investments to cnsure ihey arc held in Il)e appropr13tc fund aiid will meet the putF05¢ for which they are being held and rcpon to Session.
Klrkwall East Church SC018002 Trustees, Annual Report Year ended 31 December 2023 Risk Management The PTin¢ipal risks to the congTcgation arc declining membership. incom¢. increasing energy and mainienance co81%. Alihough membcrship has okclined sttrddily over ihc pasi 30 years. incornc has remained sufficient io me¢[ ihe annual costs for Kirkwall E"ast most years ro produce a surplus. A reserve has been built up io hclp with future building mainienancel replacemeni costs. The Kirk Scs5ion is investigating whai use can bc made of our leie5 to expand Worship and ouw¢a¢h. Reserve5 Pollcy It L5 the Trns¢ees' policy to hold re5erve5 of approximai¢ly six monihs ¢xp¢nditure including desiullliied funds At ihL end vfthl ycaT th¢ Church held unr¢sl(led fun(ls of £464.062. of which £15.853 had been des1wl¢ for th¢ mans¢ arhd L3relakers Ilat diid oihcr specific purp05e¥. The remaining b8lance of £448.208 Tepresenis undcsi8naied rcs¢rv¢s hcld. Thc ChuT¢h also held £81.361 of rcsiricied funds which have been provided for ihc purpoKs spccifjed in rM)ie I l. Governlng Documenl TIIC LUrt¥regaiioD is a rcgisi¢r¢d charity. rtumbcr SC018(K)2 and 15 adminisi¢red in accordance wilh Ihc lemis of Ilic Unitary Dccd of Con$iitUlion Idaied 27 March 20171 #nd 1$ subjeci 10 ihe Acts and Rc8ulations of th¢ Gen¢ral Ass¢n)bly of ihe I".hurch of S¢oiland. Or%#Dl8atlonAI Siru¢iure M¢mb¢r.% ()f the Kirk Session aTQ the charily trijyices. Thc Kirk Session membets are Ihe elders of ihc church and arc ehoscn Irom Ihosc rnembers of Ihe church who arc considered io hav¢ lh¢ approprialc 8Lfts and skills. Thc minisi¢r. who is a meinber of iliL Kirk Scssion, 15 cl¢¢t¢d by the congregaiion and inducicd by Pr¢5bYry. I'he Kirk S¢ssion which meets five limes a year 15 respon$ible for ihe spiriiual and temporal affhirs within ihe ihurch. C¢nain r¢sponsibiliiies ar¢ dele8aied io ihe Finan¢e Committ¢c. Halls Managemeni Commiiitt 8nd the Property Coiiiiniiicc as appropriaie. Otl)cr group$ Teporfing io Session arc Edueatiot). Communications. PasioTal Cjre. Il'orship and Mission. Pa8e 3
Kirkwall East Chureh SCOI8002 Trustees, Annual Report Year ended 31 December 2023 RLfcreN¢e and Adminislr%liYt InloTmti•n Chariiy Nne.. Kirkwall Ea51 Chmrch. Church of Scutland Chariry Regisiraiion Number. SLO1800? Congrcgation Refffence No-. 45?-711 Conlacl AddTe55". Indcni Lx&miner Albert StrtLt Kirkwoll Oikney KW15 IIIP BAkers Royal L4ank of Scoiland I Vicioria Sirc¢l Kirkwall l)rkn¢y KW15 IDP Othtr trustees xho served io the perlod o other irusices serNed during thc period. Page 4
Klrkwall East Churck SC018002 Trustees, Anny21 Report Yer ended 31 December 2023 Sitemtnt of Tru$tee$' Resp•niibilities TIIL Charity tyusi¢es are reswjnsiblc tor preparing a inleC5 annual rewym and financial stsicmcnis in a¢¢ordance wilh appliLable law and unli Kingdom Aocounting Siandardg (Uniied Kingdom Generally Accepted Accouniin8 Prdciicel. The law applicable lo chariiies in Scoiland requires th¢ charily Irusiees 10 prepare financial 51aiem¢nts lor each year H,hiLh sh4)w h trne and tair view. of the state of affair5 of the chariiy al of ihe irjcomittg res(xw¢es and applicaiion of r¢suurc¢s. of Lharily for ih41 p¢rioJ. In preparing the financjal STaiemens. thc mLsiee5 t required io.. selw suitable accouniing poli¢ie8 and apply them consi%icnily: obscrvL ihl ni¢ihod and principles It) the applicable Charilies SORP. mak¢ judyeiiienis aTrJ estimai¢s thai are reasonable and prudenl: stale wheiher appliLabl¢ aL¢04Lntin¥ siandards aml yaiements of rttommended PTafflicc have been follow. subject to any depdrlures di4clused and ¢xpiainvJ in the financial siaiemenrs: and pr¢pare rh¢ financial.%tat¢menLS on ihc going coneem b1% Unle it 15 inpppropria to presume ihai Ihc chariry will ¢ontinu¢ in op¢rulional exibiee. The iN¥tccs arc rcsponsible for keeping prorKr i¢couniing records which dixlosr with r¢Asonablc accurxy ai any lim¢ rh¢ rinancial posilioll of ihe charily and iu ¢nable ihem io ensurt ihai ihe financial sthienKnls comply with Ilic C.liuriiics and Tru51CC IiiYc£imeni ISL'oilandl Aci 2(K)5 and ihe Charitl¢s AcLunts (Scoilandl ReBulaiiort% ?(M16. They arc also rcsp()nsilTrlc for saleUmTd1rt the as$c15 ofttrK chanty and he¢ for thking rOnb]e sieps for thc prcw¢niion and deicction of fraud and oihbr irr¢¥ularilies. Thc ¢ru$i¢is are resp)nsiblc for tIK' main(cnancc and intC8rit) of ihc ¢IlY and finaD¢ial Infornuiion on thc congregaiion's Wib%iie. Ixgi518liun in the Uniied Kingdom guvernin¥ ihi PT¢parJ¢ion and disscminaiion of financial sraienicnts may dil'tcr froni ILsTislaiion in oihcrjurisdieiiorts. Approved by the T qiees and signed on ih¢ir behalf. Dal¢'. ea Page S
Kirkwall East Church SC018002 Independent Examiner's Report to the Truslees of Kirkwall East Church I rcport on the accounts of ihe charity for th¢ ycar ended 31 Dcccmbcr 2023. as s¢t out her¢in. Re$peetive responsibilities of trustees and examiner The charity's truslccs are responsible for the preparation of the accounis in accordance with ihc tcrnis of Ihc Charities and Trustee Invcsm)cnt (Scotland) Act 2005 and the Charilies Accounis (Scotland) Rcgul&tions 2006 las amL'ndcd). The charily trustees Consider that lh¢ audit requiremenl of Rcgulation 10(11 la) lo (c) of the Accuun15 Regulaiions docs noi apply. li is my respon.sibility lo cxAmine the 8¢¢ounts as rcquired under scciton 44(11 {cl of the Act and to state whether particulaT matters have com¢ to my atteniion. Bgsls of Independent examlner'$ $t4temenl My examination is Caled out in aL¢vrd8nc¢ wilh Regulaiion I l of ihe Charilies Accounis (Scoilandl Regulaiions 2006 las anicnded). An exaniination includes a review of ihe accounting rccords kcpl by the charity and a comparison of the accounis presenied wilh ihose records. li alw Includes consideration ol. dny iiniisual itcmi or disclosures in thc accounr5. and seeks cxplanaiions Irom thc Irus(ccs conccrningi any such mallcrs. Th¢ proccdures undcrtakcn do nol provide all ihc evidence thai would bc rcquircd iii an audil, aiid consequently I do Thot express an audii opinion on thc vicw given by the accoun15. Independent examiner's $tiiemeni In Ihc Lourse ofmy cxaminalion. no maller has corne io my atteniion which 8ives mc reasonable cause to believe ihat in any rnalerial respect ihc r¢quirements'. 'io keep accounting rccords in ac¢ordancc wilh S¥clion 44{1) la) of th¢ ?005 Aci and Rcgulalion 4 of th¢ ?006 ALcounts R¢gulaiions las amended), and •.' io pr¢parc aLLiJunts which accord with thc a¢¢ounting r¢cords and comply with R¢gulalion 8 of the ?006 Accounts R¢gulalions (as amended) haye not been mci. or lo which. in my opinion. artenlion should bc drawn in order lo cnabl¢ J propcr undcrslanding ot thc accounts to bc rcachcd. liidLPel)dei)i Lxaminer A J.B. Scholes Limiled 8 Albcrt Street Kirkwall KW15 IHP DatL'. II, (I Page 6
Kirkwall East Church SCOI 8002 Statement of Financial Activities Year ended 31 December 2023 ote ijnreswided RrItted Fwnds Funds 2•23 U#rerIC¢td Restri¢led Funds Fullds Tuil 2•23 2021 2022 In¢orn Irtd tndoviments fro l)(>naiion5 and Icgg¢ic5 ()th¢T ZTBdinB O¢livLlies Inv¢>imtni$ 52.675 5?.675 I4.5 53.7?4 17.957 2.326 8241 53.724 17.957 14.085 41IJ 2.S58 2.726 10.799 ChHTiiabl¢ 11¥1¢3 5.524 6.777 TotAI 77.624 3.953 ai.577 Exp¢ndltur¢ o Lhariiable a¢ii¥iues 91.808 914 92.7?2 93.245 3.465 Y6,710 TolAI 91.808 914 92.722 93.245 96.710 Plei In¢orntl(eAptndltyrtl brfore i1Sths xttd lositt on Invttlmenls -14.184 3.039 -10.997 .507 (iainsl Ilossesi ort invesimethi asseis 6.775 6.775 et lrtcomellexptndllurel bel•rt Ir44¥ftr¥ J.039 4.370 2. JQJ .$07 -?).•nu Trallif¢r$ b¢Thveen lunds 83 -83 4.0(KJ N¢t mtsv¢m¢nt la ThLnd¥ -7.326 2.956 4J70 J,493 .72.y Total fw•d brought forwArd 471.3811 71.405 549.793 497.781 572.fv9.1 TotAI fundi tarrl¢d forw*rd 464.062 81.361 471.388 78.404 $44.7Y3 Pag¢ 7
Kirkwall East Church SC018002 Balance Sheet As at 31 December 2023 2013 2022 Note Ixed knseis Tatlgible Fixed asse Inve8unenis 216.074 97.344 217.(M)O 90569 313.418 307.569 C•rrenl knsets Trade debrors 3.107 5.033 855 Chher debiors Bank wnd c*sh 5J66 311.73X CurreAI LlabIll¢S CrcdiluT% falliii¥ due withing 11.. - TradL' crcdittsrs -3.433 -1.098 4RI 179 . Oihcr CrlIOTS -9YS 'raxaiiun D¢f¢rT¢d granis -800 Nti Current Asstll 232.(4)5 242.?24 Net A8stt• 5.423 549.793 Unr¢5tTl¢t¢d Fundi Gcncrhl tunds Dcsi¥naied funds li 448209 15.853 451.966 464.U6? 81.361 471..IllX 7¥.405 R¢Jtri¢ied Tr'ynds Tgtlll Funds 54!.4?3 549.79.1 The accounts w¢r¢ approv¢d by Ihe Kirk Session o and.%ioned on half b%.: S¢ssion C l¢1 Pagc 8
Kirkwall East Church SC018002 Notes to the financial staternents Year ended 31 December 2023 Accounting policies The principal accountlll8 policies. which have been applied consistently in the cuent and preceding ycar in dealing with items which are considercd matcrial io thc accounts. are sel out below. B*%ls of preparation The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charilies.. Siaiemeni of Recommended Praciice applicable lo charilies preparing iheir accounis in accordance with the Financial Reporting Stsndards applicablc in ihc UK and Rcpublic of Ircland IFRS102) issued on 16 July 2014 and Financial Rewrting Standard applicable in the UK and Republic of Ircland (FRS102), the Charilics and TSiC¢ Investment (Scotland) Act ?005 and th¢ Charities accounts (Scotland) Regulations 2006 (&% amended). Thc accounls are prepared in sterling. which is Ihe functional currency of th¢ charity. Moneiary amounts in Ihcsc financial ststemcnis are rounded io ihe nearcsi £. Al the lime of approving th¢ a¢¢ounis. Ihc Iruslccs have a rca50nable expc¢iaiion that the Charily has ad¢quaie resources lo conlinue in opcraiional existence for the forcsccablc fulure. Thus Ihe trusiees continu¢ 10 adopt th¢ going conccrn basis of accounting in pr¢paring ih¢ a¢¢ounts. Funds F unds are elassificd as either resiricied funds or unreslncted fun(ts. defined as follows. Rcsiriclcd fund5 arc funds subjcct to spccific rcquiTcmcnlS as to their usc which may bc dcclarcd by Ili¢ donor or with tl)eir auihorily OT crealed through legal processes. bui slill wiihin the wider objecls of ihL' charity. Unr¢siricled funds arc cxpendable at ihe discrnion of the iNstees in furtherance of ihe objects of the charity. If parts of the unrcsiricicd funds arc earniarked ai ihe discreiion of Ihc irustccs for 3 parlicular purpose, they are designated as a separaic fund. This designation has an adminisiralivc purpos¢ only and does noi Icgally rcstrict the IsteeS, discrciion lo apply the fvnd. Incoming re50UT¢e$ Ineome is recognised when the charity has enlitlemenl to the funds. any perforniance conditions attachcd to ihc iicm(s) of incom¢ havc b¢en mci. li is probablc that Ihe income will be rcccivcd and the diinounl Can b¢ measured reliably. Pagc 9
Kirkwall East Church SC018002 Notes to the financial statements Year ended 31 December 2023 Donated services and facilltles Donalcd profc5sional services and donated facililics aTe rccognised &s incom¢ whcn the charily has ontrol over the item, any conditions associated Y¥ith the donated iteTJ) have been met. the receipi of cconomic bcncfit from thc usc by ihc charity of thc item is probablc and that cconomic bcncfit can bc mca.%ured reliably. In accordance with the Charilies SORP {FRS I02) the general volunieer time of congregation members is nol recognised. On receipt, donated professional serviees and donaied facilities are recognised on ihe basis of the value of ihe gift to the charity which is ihe amouni the charity would have been willing lo pay io obtain services or facilities of equivalent c¢onomic benefit on the open market; a corresponding amount is then reeognised as expenditure in the period of receipi. Interest receivAble Iiitcrc51 On funds held on deposil is iD¢lud¢d when ffeeivable and ihe amount can be me&sured reliably by thc charity,. Ihis is nornially upon noiificalion of Ihc inicrcst paid or payabl¢ by th¢ Bank. R¢$ources expended Liabilili¢s arc rccogniscd as cxpcndilurc as soon as thcrc i5 a leg81 or conslrnciivc obligaiion commiiting the charity lo Ihai ¢xp¢ndiiure. li is probable ihal seiilcmcnt will be requId and Ihe amuunt of ihc obligation can bc mcasurcd rcliably. ExndItUre is recogniscd on an accrnals basis. Flxed assets The Lhdirity has the rT8ht to occupy and use for ils charil8bl¢ objects ¢¢rtain iaftgible fixed assets, including Ihc Church. halls and manse. vestcd in the Church of Scotland Gcncral Trustccs. No oiisideration is payablc for Ihe use of th¢sc asseis. Expendiiur¢ in¢urred on the repair and maintcnancc of ihcse asscts is char8cd &s r¢sout¢¢s ¢xp¢nd¢d in ih¢ Staicmcnt of Financial Activities ii) Ihe period in which (h¢ liability arises. All tangible fixed assets cosiing in excess of £250 having a value lo th¢ charity gre3ter than one year. oiher than ih05e acquired for Splf1¢ purposcs. are capiialised. Depreciaiion is provided on a straight-line basis io write otr Ihe cost or injlial valuc. less residual valuc. of tangible fix¢d asscts over their estimated uselul lives.. Fixiures, fillings and orric¢ cquipmcni Motor vehicles 5 years 5years Investments F'ixed assel inveslmenls are stated at maTket value at the balance sheet date. Unrealised gains and losses repre5¢nt the difference beiween the market value at the beginning and end of the financial year or. if purchased in the year. Ihe ditTerence between c05t and market value ai the end ol the year. Rcaliscd gains and losses represent ihc difference between the proceeds on disposal and thc markct value at the start of the year or cosi if purchased in the year. Pag¢ 10
Kirkwall East Church SC018002 Notes to the financial statements Year ended 31 December 2023 Taxalion Kirkwall Easi Church is recognised as a chariiy for the purposes of applicable taxation legislaiion aiid is therefore not subject to tsxation on its charitable aclivities. The charity is not registered for VA T and resources expendcd ih¢r¢fore include irrccoverablc input VAT. Pagell
Kirkwall East Church SCOI8002 Notes to Ihe finfin¢ial Staternents Year ended 31 December 2023 L•resiYl¢wd Rwricitd Fy]Mls Toil L•rtstrrkied Rtsirf¢ttd Ttyial 2013 F¥nd5 Fund5 I DoMAiloyi •nd le%ci OIT¢rin85 Tax r¢coveTed on Gift Aid Oiher donaiions oniribuiion$ frnm Congr¢ga¢ion41 Grants rcccivcd L¢8ocie5 38.887 38.887 9.384 4?.378 9.665 9.384 9.6(15 550 550 57.675 51.7ty4 53,7:4 2 Trdirti Use of Pr¢niist5 14.085 14.085 17.9S7 17.Y57 14.085 14.085 17.957 17.¢)57 J Invtltmenti Ikposii inicre81 Dividtnds Te¢¢iw¢d Bank Intcrest 271 2.275 2.911 2.275 204 1.83 397 ? J? 23 J x.(Mo 400 4 Chrliible *cllvllles W¢ddin&% ind Funer•l$ Fayres. S•lc% & Sociil A¢iiviii¢A 515 515 4.359 390 6.238 2.558 Other 1.413 1.593 1.59J 5.5?4 1.253 6.777 8,241 ?.55X 10.794 Page l?
Kirkwall East Church SC018002 Note$ to the financial 5tatement$ Year ended 31 December 2023 5 Anxlyili Of exptrtdlillre Uoresirlrfed R¢stylM¢d T 1023 Unrtsirfrd Rtslrl¢ied Toial 2022 F•1 Fuods Funds ChxAtablt Act¢1 Min15rries and Mission AIIo¢aTiOrt Prtsbyi¢ry Du¢$ Minist¢r$ Exp¢nKs Pulpji Supply OiheT salary cvsis F•brii R¢p•iTS & Maini¢nn¢e Council Tax her Buildings Cosis Otb¢T ¢xp¢nses DcprrcialiuTh Don81ions 34.(KK) 34.777 34.777 2.712 2.712 1.036 69 2.5SO 6.69% 2.213 1.036 69 2.550 6.651 !.550 6.651 2,-4$0 7.678 2.213 9A0 14.520 21.0•2 7.432 1.250 14.520 21.9) 7.4J2 914 1 %.1%4 7.677 ?.4%5 ?1.3hQ 7.677 i.uixj 1.250 41.808 914 92.722 ¥3.245 3.465 V6,710 T•141 91.¥U8 914 93.243 3.465 96.710 Support Cosu have not bt¢n separnrtly IdtntifLed tht rrwiets ihtre 1$ onfy otte th]e aerivity. Theref¢ suppon costs Tela wholly rh81 xiii'iiy •nd hal't been xp¥rniely eIlr1ed. 6 StilT<oJii Ind ftumbe 2•2J 2022 Salaties and wA8es Social 5¢cufiEy tos Toiil 15.482 15.48: The ii'er3gt numbeTofemploytts dunn8 Ihe ythr. cileuJed on the h$tsof i kne CLKthI. wis Is follows.. 2012 Mu$1¢ %r8 Prem15es mainienince Pasioral #ssi$tsnts All ChuTch ofscotltsnd con8Te8aiiotL contribule 10 the Naiional St4nd trund hielL belts thE e05ts ofall mim151er5' SILp¢nd5 and ¢mploy¢rfs ¢¢ntnbu¢ions fot n8iJoTral p¢nsion and housing loao fiJ. M¢nisws' stit are paid In accordance wilh ihe naiiohl $iipend 5Lale. which 1$ relaicd ro yeu5 of Krvic Page 13
Kirkwall East Church SC018002 Iyotes to the flnanclAI s¢#tements Year ended 31 December 2023 7 TThM¢¢ R¢nbwn¢rition •Thd Rtl•ied Prty Trusdi•hi 2•13 2022 P*i'meDt Ill rtsprti ofw•rk or Kr¥ku pr•Wid by • Irlet S Lir¥#nisi or ga5 safdy ehttks 1.524 1.524 16 1.524 1.6W TtU5E¢¢ rcimbutscmeDT of Expo5." Tru>i¢c rv¥rtibuts¢iii¢nt ofcipcAqes.' Minister Sess CILYk 2D3 65Q Ilh2 1.449 2•23 1022 Tothl numb¢r ofiru¥15 1mbrFAd. fluring 2021 a ioi•l of£8.351 tQ EIK ¢LrnI¢0 by intyw. Pa8¢ 14
Kirkivll East Church SC018002 otes lo the financial stattments Year ended 31 December 2023 8 Tnglble Flxed AJstlS Tal Coit Ai l January 2023 Additions DISPO1$ AI 31 D¢mb¢r 2023 2(X).¢XKI 64.351 ?64.351 2(XI.(WMI 70.857 ?70.857 AÉ¢umulJled Deprt¢lAthfy AT l January 2023 Char¥¢ for y¢4r l.-limIrtad on Disposals AI 31 DK¢mb¢r 2023 47.351 7.432 47.351 7.432 54.783 54.783 Net Book V•lue At 31 D¢¢emb¢r 2023 20D.O 16.074 216.074 Ai 31 Ik¢¢mb¢r 2022 17.IKX) Otbtr Aiirfi Al l Janwary 2022 AddiLlUnS Disp05815 Al 31 De¢ember 2022 2.(K} 51.53J 251.535 12.818 2.(X) 64.351 A¢¢umylJl¢d DepT¢d•tl Ai l January ?022 Char8c lor yeaT Eliminaitd on D15posals Al 31[)]br 2022 J9.674 7.677 39.674 7.077 47.351 47.351 Book v¢ Al 31 De¢ember ?022 17.(KMJ 217.( Al 31 De¢emtr 2021 Pa8e 15
Kirkwall East Chureh SC018002 Notes to the finan¢l21 Statements Year ended 31 December 2023 2•23 2•22 Markli value ai 31 Dernber ?022 Additional investments PUTchased Unrea115ed gain I Ilossi on invtsttnents Mke1 value 4131 Dttember 2023 .569 101,Y65 775 -11.396 90.5&9 97.344 Inve$imen¢s 91 ¢051 47.479 47.474 The followin8 inv¢sirnen15 arc held.. Churth of Scoilathd Inveswrs Tru$i'. Funds 10 4nily¥ls of liel Aisds Amohl Fuods T•t Fix¢d Assets InvcsThcnt5 216.074 97.344 210.074 97.344 Nti Current A5StIS Nel 855el¥ it 31 DK 2Q23 15.853 44%.2UY 545.4!3 Gtrl Fixcd A35eis Inv¢51ftKrtt$ Lurreni Asis 217.IKK) IXl.569 144.397 451.9féTr ?17.1 90.569 19.422 19.4?? 78.405 7A.405 242224 549.791 Nei •uerJ It 31 De¢ 2012 Pagt 16
Kirkwall East Chur¢h SC018002 Notes to the financial statements Year ended 31 December 2023 11 MovemeDts itt Fu•di 4t l Jiury Incomlnl 2023 Resouttes Ru•yr¢es Tr•wl¢rs A131D 2013 RÈJtrlethd fufjds Mainn4n¢¢ Trund Fair Trnd¢ Fund 77.542 2.7 1.253 914 Th¢ Guild Trund 83 78.405 3.953 914 -83 Vnre$irl¢itd fun D¢$i8naied FibnL Pund Desi8Mi¢d Social Commill¢¢ Fund CJ¢neral Trund Desi8Mled Flower Ftsnd Dc$i8Mied Oumch Fw 7.051 6.360 451.966 107 327 107 83.897 7..1711 -J.454 3.144 -107 .798 44X.2O9 471.38¥ 84.349 91.¥08 ¥3 464.0fy2 Totsl fyudi 549.793 88,357 92.722 545.423 Tranlfort AI31D 2022 2122 Resirleitd fundi Miinien4n¢c Furtd F'air Trade Fund Th¢ (luild Fund 74.1!2 707 83 980 2.485 77.54? 780 2.558 74.912 2.958 3,4bS 7¥.4115 Unrtitrl¢ted f¥ttdi Dc51¥naied F4bric Fund De518naied s111 Commitiee Trund General Fund Desi8¢)ai¢d trI0¢r Fund Lks¢gTh¥cd Outreach 5.643 5.Y07 480.637 127 5.461 497.7%1 ?88 771 7,051 6.36U 451.96h 318 103.848 20 75 104.641 %1.177 471.3R TotAI futsdi 57?.693 5.206 10%.106 549.791 Page l7
Kirkwall East Chur¢h SC018002 Notes to the fin*ncial statements Year ended 31 December 2023 of R¢siriried Funds MOllli¢nance Trund.. ThJ5 Is a tund ¥dministrral EO a"Life Cycle WoTks- King SIi¢¢E IlalLs. FBIT Trade Fund.. foi the PIOnrion of fair trade Pil¢e$. The (iuild Fund.. funds for the purw)5e uf involving th¢ wthr con8t¢8ation in la[ aciiviiies oses of D¢si naEed Fut abrLC Fund.. The Ttte5 have ¥1 asid¢ fvnds forth¢ rniin1cne of ihr chwch w)perty. Sotial Comtnittet Fund.. The Trus¢tts h•v¢ s• D5idE fvnd5 (or the of involVu th¢ wider congr¢8•i¢on Ill gla1 and chwriiabl¢ XiivLtJes Flower Fund.. The TnJsLees kn4vc sei asidc fwyjs fu th provision Dfjkni tributes. Outreath Furtd.. TheTNsiees •sid¢ for the sNMJsorthi'pof J ¥Alw18th sntslethL 16 well 85 other ¢ommiimet)Is. PaBe 18