The Church of 4iCOtland Presbi'teri, of the South M'est 'I'ru5tces' Annual Report and Financial Statement5 lor the I'car ended .1 l Deceml)er 2112.1 Presbi'ten. No:1I7UIIIIII C'haritt. No: SC'I)211h7 Referencc and Administratii'c Inforniati(>n The C'huTLh i)f ScLiilJi)d l.i)r IhL YLar Li)de(l _I l L)LLLinhL'r ?11? A resbi leri. No. 11711111111 C'liarili %(' 112111)7b Cc)nldLI A(Idrcss'. "I'IIL Siiuih W L%1 PrLsbwLn' C)I'IiLC I'rcs1￿,iLk iA() IN 'l-rustQCS'. Ilinisters: .%lini%ti'r% ￿ ith(buI charkie: .luxiliar% ￿lE￿Illers. l)cacons: C-vrre5pvnding Vlembers - Do not i'ote: Rcaders: Principal O￿lee-Be%rcrs Inilepcndent Tr-.iaiiiinL'r L'dj sil￿1 & I li¥ll¥l. c Iidi l¢ird Aiivuiilaiils. 123 lri%h %lrLLI. DLinilriL% D( i l ?P[.- Bankers Blink lil. SLi>ilJiiil PO B()x 1111111 BL? 11.B Trustte%' Annual Report 'L'ar Endcd .1 l st l)ccc'mhLir 2112.1 Siructure. GvvLrnyncc and Nlana%enienl l.oll01￿ iiibt r¥-blruciuring ￿..¢111111 Ihe C liurch ol. SLI)Ildnd. IhL J)rLsb￿Lry ul- Ayr uniied ￿.111] liv¢ ()Ilivr l)rLsbvl¢ri¢.4 1(I hLLLIIIIL ThL PrLSbNILTr of IIJL South We%1. the C liarit), s i)aiiie being 'rh¥ PrL.sbyl¥Th- is L(IiJ%liillied iii ¢1LCI)rilaiiiL willi IliL AL1& ul. IhL (JLnLf' ()[ illl L hurlh l¢mhersliip Tli(b%L LllbT jl)IL In hL tiieitihers ar¢ dLi¢nniiiL(I by IhL lr¢%hslLr)' IllLLlb L41 Iicisl f(iur timL% per aiinuin uiider Ilic cliairTnan%l)ip iil-Ll Mi)dLr4111)r wliv i¥ bLI(IrL lTrrL%11¥1ery' rc.%i.% 14 1111 IIIL PrL%bylLrN' C'ILrk. I TLi1sllf¥r H,Ii() Is LILXILLI h! I rL'sbJ1Lry. L'Lrtiiin LiilILr IuiTrLlii)Ii% (11. 5>r¥41)I1ery. iiicludiiig a%peLIs ()hjecli%'es and ,Ictii'ities Siimmllr tiniiu% LiinimillLLs. 1)iis1)NrtLry i%.'11.4(Tr respoTi*ihl¢ for all ¢thJigrLgaiion% tn IliL Snuili Il'L41 areJ. Acliiltics and ..Irhicbenients PrishN'ILry hLlILILb Iliiil il iiLrli>m35 IhL lr deleilion ()l- Iraud atK Iiili¢r IrrLbulariiiLS. .Irh September 21125 Presbyiery of the South Wesl Charity Registration No.SC 020676 Indepèndent Examiner's Report to the Twstees of Piesbylery of ihe South West Year ended 31 Decgmber 2023 I report on Ihe aceount5 of the chaTIty for Ihe year ended 31 December 2023 which are sel OJI on pages 9- 18. Respective responslbllitles of Trustees and Examiner The charity's Iruslees are Teswn51ble lor the preparation of ihe accounts In accordance with the lerylls of Ihe Charities and Trustee Inveslmenl Iscollandl ALI 200S and Ihe Charities Accounts {Scotlandl Rcgulaliolls 2006 las amended) The cttarity Iruslees consider that the audit requirement of Regulat￿n 1c4 11 lal lo Icl ol Ihe Accounts Regulations does not apply. It is rny responsibility lo exarvine the accounts 35 required under Seclion 4411 I Ic) ol the Account and to stale whether particular matters have come to my atrlenlion. Basi5 of Independent Examiner's Ststement My exatninalion is oairie¢J oul In accordan￿ wilh Regula1￿ 11 01 the Chanlies Accounts IScot1an¢YI Regulations 2LNJ6 las amended). An examinaiion indLthYes a review of Ihe accounting records kepl by thp. charity and a comparison of ltte accounts presented with those record5. It also Includes consideral>on ol any unusual items or disclosure5 In the accounts. and seeks explar)alions from the Iru51ees con¢eTning any such matlers The procedures undertaken do not provide all ihe ewdenee ihat would be required In an audit. and conscquenlly I do not eXp￿$S an audit opinion on the vieY4 given tsy ihe accounts. Independeni Examiner's Statement In Ihe course of my examination. no maller has come lo my attent￿n.. 1. which give5 me a reawnable cause to believe Ihal In any matena15 respect the r￿u1reMenis. to keep accounling records In accordance ￿1h sectio￿ 44111 lal of Ihe 2005 Act and Regulation 4 01 the 2006 Accounts Regulations. las amended l and lo prepare accounts which accord with the accountiThJ records and comply with Regulaiion 8 01 Ihe 2006 Accounts Re9ulalions {as amended) have nol l)een mel. OT 10 whieh. In my opinion. atteniion should be drawn in order io enable a proper C"ttarrcrcd .IccouDllllIts l21 Irish %lrect Durnfries l)C'l 2PF" 14ib SepieAJhtr 2112$ Statement of Financial Activities Yèar ended 31 Decembef 2023 Note Unrestrided Funds 2023 Restiicted Endowment Funds Funds 2023 2023 Total 2023 Income and Endowments from: Charitabla Activities Balanco transfers from the legacy Presbytoriès Inv8Stm•nt Incom• 116.289 67.138 116.289 170,465 103.327 660 Grant from Chur¢h of Scotland Total Income 98.909 98,909 386.323 103,327 Exponditure on.. Charitable adivities Other Payments 125.282 125.282 Total Expenditure 125.282 125.282 Net incomellexpenditurel before gains and losses on investments Net GainsllLosseslon investments 157.714 103.327 261,041 Net in¢omel{expenditure) 157.714 103,327 261.041 Transfers between funds Net movemènt in fvnds 157.714 103.327 261.041 Reconciliation of Funds.. Total funds brought forward 118.195 51.226 58.791 228.212 Total funds Carried fov*4ard 275.909 Pre$byltry ol the Soulh West Bal¥nc• Sh•gt * 31 DècÈmb•r 2023 TrJt•l Fund¥ 202J Unrestficl•d R¢5trfrted Endowm•nt Funds Funds Funds Fixed Assets In¥e¥tmènts T￿•1 Fixed AsMI• Current Ass*is Oeblors Cash at bonk and in hand Total Currqnt Ass•ts 64.011 64.011 13.071 57.635 134,717 57.635 134.717 211,898 211.898 141.482 141.482 1,156 354.536 1.156 354.$36 CTediiors Falling due withln one ￿*r Net Curr•nt A85•15 211.898 141.482 1.156 354,536 Net A¥•et• 275.S¥) 154,5S3 58,791 489.253 Funds 154.553 58,791 489,253 Th• accounts weff¢ approvèd by the Pre$b￿ery of the South W¢5t on 13th September 2025 Prèsbytery of the South West Year ended 31st Deeèmber 2023 Accounting Polici8S The principal accountin9 policies, which have been applsed consistently in the current and pre(*ding year In dealing with ilen)5 which are considered material lo the accounts. are sel out below. Ba$1$ of preparation The financial slalements have been prepared In accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Pra¢li¢e applicable lo chd¥ilies preparing their accoun15 In accordance with the Financial ReportiNg Standards applicable In Ihe UK dnd Re.public of Ireland IFRS1021 Issued on 16 July 2014 and the Financial Reporting Standards applicable in the UK and Republic ol Ireland l FRS1021 Ihe Charities and Truslee Investment (Scotlandl Act 2005 and the Charilies accounts Iscollandl Regulations 2006las amended) Funds Funds are classified as either restricted funds or unreslricled funds, delined as lollDWS. Re8liicled funds are funds subject lo specific requirements as lo their use which may bc declared by Ihe donor or with their authority or created Ihrough legal piocesses. bul still within the wider Obj￿IS ol the charity Unrestricted funds are expendable al the discretion ol the trustees in furtherance of the obj*ls ol the Charity If parts ol the LSnreslricled funds are earfflarked al the discretion of the Iruslees lor a particular purpose, (hey are designated as a separate fund This designation has an adminislralive pujpose only and does not legally restrict the Iruslees discretion lo apply the fund Incoming resources Income Is recognised when the charily has enlillemenl to the funds, any performance conditions allached to the Itemlsl ()1 incorne have been met il Is probable that the Income will be received and the amounl can be measured reliably. Oonated services and facilities Donated professional services and donated facilities are recognised as income when the ctharily has control over the Item. any conditions associated with the donated item have been mel. the receipt of econowic benefit from the use by the charity ol the Ilem 15 probable and that economic benelil can be measured reliably. In accordance with the Charilies SORP IFRS1021 the general volunte& time ol congregation members is not recognised Orn receipt. donated professional service5 and donale¢ facilities are recognised on the basis ol the value of ihe gift to the charity which is the amounl the charity would have been willing lo pay lo oblain serVI￿S or facilities of equivalent economic benefit on the Op￿ market, a corresponding amount is then recognised as e%pendilJre sn the period ol receipt 11 Intèrest receivable Interest on funds held on deposil Is included when receivable and the amount can be measured reliably by Ihc charity,. this is normally upon nolilicalion ol the Intere51 paid or payable by the Bank Invgstments Fixed asset Investmen15 are stated at market value al the balance sheet dale. Unrealised gains and losses represent the diffeience between the market value al the beginning and end ol the financial year or. Il pijrchased in the year, the dillerenco between cost and market value al the end ol Ihe year. Realised g8ins and losses represent the dillerence between the proceeds on disposal and the market value al the start ol the year or cost if purchased in the year Taxation Presbytery ol the South Wesl Is recognised 8s a charity for Ihe pvrposes of applicable laxalior¢ legislation and Is therefore not subject lo laxalion tsn Ils charilable aclivities. The charily Is nol registered lor VAT and resources expended therefore include Irrecoverabl8 Inpui VAT Pr05bytery of the South West Notes fom)ing part of the financial statements for the year ended 31 Decemb•i 2023 Unr•slri¢ted ReS¢rI￿e￿ Funds Funds 2023 2023 Total 2023 Total 2022 1 Income Prosbytery Dues Balance Transfers Grant from Church of Scotland Event Income 116.055 67138 116.055 170.465 98.909 234 46,421 103,327 98.909 234 282,336 103,327 385,663 46.421 2 Investment income Dep¢>sit interest 660 Total 660 Unr*stricted Restricted Funds Funds 2023 2023 Total 2023 Total 2032 3 Expenditur Clerk's Salary & Oncost Clerk's Expenses Clerk's Telephone Treasurer's Honorarium Secretary's Honorarium Postage.Printing & Stationery Presbytery Office Presbytery Offic•lT•l•phon•lema Mission Dev. Exp•nsos Members Exponsos Insuran¢* CCLI Presbytery Chaplains incl. Expen Carrick Centre Catering Safeguarding Training Office Equipm¢nUmaint Farming Chaplain Deputy Clerk's Salary & Oncosl Admin Salary & Oncost Setup Costs Other Rents Audit Fe• Cochran Trust Admin Miscdlan•ous 58592 2881 58592 2881 8607 671 210 84B 5289 1416 1200 210 150 306 315 603 4500 603 4500 4956 616 213 4956 616 213 2086 400 938 250 724 887 9420 3213 31196 1408 720 720 3719 432 666 125282 887 9420 3213 31196 1408 720 720 3719 432 666 125282 23620 Not•s forming part of the financial slatem•nts for tho y•ar •nd•d 31 December 2023 2023 2022 4 Staff cosls and numbers Salaries and wages costs Social securlty costs & P•nsion Contribut10115 Total 79.697 13,304 93.001 8,607 8.607 Th• avèrage numbèr of employees during the Y￿r. ralculat•d on the basis of a h•ad count. was as follow5.' 3 {2022 11 No omploy•• had employ￿ bonefits in excess of E60,000.12022 nil.) S Trust•• Remuneration and Related Party Transactions No trvsi•• or a p•rson related to a trustee had any personal interest in any Contract or transaction entered into by the charity during the year. Not•y forming part of th* fiAan¢ial statom•nts lor the year endfjd 31 0t¢¢mber 2023 6 Invostm•ntJ 2023 Market value at 31 D•cember 2022 Inv•stmonts introduced Sale of Investments Unrealis8d gain I Ilossl on Inv•stm•n¢8 Mark•t valuo at 31 Docember 2023 59.870 74,847 134,717 Inv•stm8nts at cost 116.311 The investm•nts h•ld ar• aj 118t•d In Appondlx I 7 D8btor$ 2023 2022 Dob¢ors 8 Cr•ditor8 2023 2022 Accruals Analys18 of N•t A8S•tJ Among Fund8 Genoral Endowment ReBtrlci•d Total Inv•stm•nis Current Assots Curr•nt Liabilitieg Nèt assèt$ at 31 D¢c¢mb•r 2023 64,011 211,898 57.635 1,156 13,071 141,482 134,717 354,536 275.909 58,791 154,553 489,253 10 Volunteer8 In common wlth all Pr•sbyt•rl•s of the Church of Scotland the Presbyiery benèllts from the contribution made by volunteers who give their time and talent5 willingly lor the benefit of th• Prosbytery. Th• areas ol Prèsbytery life which rely on tho contributlon of volunteer5 are many and vafied and much of the activity would bè unabl• to continue wfrre il not for the commitment shown NotQ5 formin9 part of thg financial statèm•nt8 for tho year ended 31 Decembgr 2023 11 Mov•ments in Funt1s At1Jan 2023 Incoming R•8ourc•8 Outgoing R960Lfrr¢¢s Tran5fer$ Inloyt At31De 2023 Restricted Funds 32.909 103.327 18,317 1 54.553 Unr•slrict•d Funds 67.309 282,996 1125,2821 50,886 275,909 Endowm•nt Fund• 61,672 12,8811 58,791 Total Funds 161,890 386,323 125,2B2 66,322 489.253 The individual Ilst of re$trict•d and •ndowment lund$ hèld 18 as 118t•d in Appendix 2. Presb ier of the South West Year Ended 3151 December 2023 endix 1 Inv•strn?nts Held No of Units Gcnoral Purposes Miss Milroy Bursary Girvari Bursary Hillhouse Bequest Cumnor Hall Jane Houldsworth Bequest Fund Lusk 8ursary Fund Machie Knockgerran 8ursary Benevolent Fijnd William Smith Bequest Rev J C Higgins Memorial Fund Ministry Support Fund William Thonison Beouesl General Presbylery Purposes General Purposes 170 1.000 2,723 1,576 366 452 2,565 1.633 899 214 395 305 843 4.907 8500 5.260.00 12,471 34 7.218 08 1.676.28 2.070 16 11.747.70 7,479.14 4.117.42 980 12 1.809.10 1.396.90 9.997 98 50.002.33 116.311.55 17 Presb lei of the South West Yaar Ended 31*1 December 2023 ndix 2 - Llst of Indivldual Funds Reslricled Property Surveys Martyrs Trust 1 Martyrs Trust 2 Christian Edur.alion Committee Moderators Tour Fund Propety Inspection Account Ministry Support Presbytery Survey Funds Benevolent Fund Rev J C Higgins Memorial Fund Ministry Support Fund 64.006 31.568 7,758 142 14,738 46 803 22,424 9.520 1.246 2.302 154.553 Endow￿e￿I - Mackie Knockgerran Bursary Trusl Girvan B*Jrsary Trust Miss Milroy Bursary Trust Hillhouse Bequest - Cumnor Ht)11 Jane Houldsworth Bequest Fund Lusk Bursary Fund William Smith Bcquesl William Thotnson Bequest 15.271 16.714 5,830 9.188 2,134 2.635 5.241 1.778 58.791 The Church of Scotland Presbvten, of the South M'est Trustees, Annual Report and Financial Statements for the lear ended 11 December 202.1 Presbi'ten No".071M) Cknaritv No: SC020676 Reference and Admin1str8ti￿e Information The Church of Scotland Presh￿ery of lh¢ South VI Financial Si￿¢M¢nI$ F()r the Year End￿ 31 Decanber ?0?.3 Presb!'ter)'1%0. Charity No. SC 02n676 ContsLI Address.. The South Wesi Pre5b￿cry OffJL¢ 50 Nlain Strcct Prcsmi¢k KA9 IN.K I'rnstees: Ministers: %linisters withoui ¢har%e'. Auxtli4n' NIiDi5teT5: Eldcr5- IKddi¢ion¥l Llders: OLfvIS: DeacoDs: Corresponding Trlembers- Do not vote: Readers: Principal OfficevBearers Independent F.i*miner Bankers Bank ot SLoiland PU Box l (K]11 TTUStees' Annual Report Ye#r Ended 31st December 202.1 5iructure. Goi'ernanee 2nd Management FollowingF a re-sttuclunng within the Chureh of Scotland. th¢ Pr¢$b￿￿Y of AIT LLniid w'iih five uihLT PrcsbJ1eries io kcomc The Pr¢sbwcTr' of th¢ South ￿'¢S¥. (he Chariri. s nam¢ being Lhanged wilh effcLt frum 7ih Ociober ?0?? Th¢ pre3b￿C￿ is constituted in accordancl ￿'11h IhL Ac15 of the (icnetal A55cmbly ofihe Church (Trf Sioilic nd as one of ihe second hibhcsl ccclesiasthLal courts. lemhership Thosc eligible 10 be members are dderninL￿ by ihe la* of the Church tNJi comprise eligibl¢ linis1￿ ol-the Church. R¢pres¢niaiii"e Eldcrs elecied by congregations ￿"ithIn ihe geographical bound& and Additional Elde[5 elected bN' Pres￿1¢￿.. uwally 10 enliy appr(>pnai¢ %kills. Corresponding members. including Rcaders. ma>. auend and he heard bui noi l'ow". A knll li%1 (IfNleTnbcr5 ii.ho are Ch3niy Tn￿[￿$ can ￿ found on pages ?.5. OrgaDisationil Structure Pre$h￿try ttLLcls at leasi four times per annum under the ehainnanship of a M(KJe13tor who is elLcied ar￿ually. ResrKTrn.%ibtlbiv for the dav_lo-day administrniion and ordenng of bu5in¢ss bcforL I)reSb￿try resis wilh Ihc Presb￿￿￿%. CICTL aSsi￿cd b). the Depuie Q lerk and a Llencal Assisianl. Thc financial aITairs are supern'i5ed bv rhe Finance CoTnmitl¢e. undcr ihe auihorily of Pr¢sbvrer¥ ilself. The dtsy-iTrdav financial IransaLiions atml accounis are deali ￿'Ith bi. IhL I rea5urer m.ho i* elecled bv Pre5bytcrv. Ccrtain oiher funciions of Presbwery.. Including asP￿lS of il% adminibifdiion. are delegai¢d 10 apprnpnate Comrniitees which rq￿rt li) Pre$b￿lcry. Objectii'es and Actii-ities SUMMA Presb>1er)' is responsihle for the supervRsion and pa￿0[al suP￿rt of Ministers and congrcgaiions within its bounds and for supportin¥. assistillg and pro¥noiing ihe M'ork of lh¢ Church thmugh various eommiiie¢s_ Pre$b￿c￿ is also responsible for all congregaiL()n.s in Lhe Souih Il'esi area, trelching from Lar4s in the nonh io Carlisl¢ in th¢ south. including Ihe islandb- of A￿an and L umbrae. In addjtion. Presbvtery C041FKfaiL% w'iih other d¢rrf)mtnaiions. ccurncnical ixMlie5 and chariiahle ¢aus¢s as appropriat¢ from limc 10 limc. Activities and Achievements Pr¢sb￿LTY belieN'es thal li perfOrn￿ lh¢ tasks r¢quwcd by widLY ChurclL w'hich are largcly diciaied b! church law.. tiineou51y and efficienilv. Committees and members ￿.11￿ srttial skills are alwavs u'illino 10 be helpfvl in supporting Minisiers 2nd cnngregaiions and to r￿pond to suogestions of new avenuL% of supwTrrt. Pre5b￿lery Medin¥rS ar¢ ciiher hcld in perw or via Zoom. As part vla wider rci'll￿ of deli￿erance wiihin ihL ChurLh olscoiland IhL. Pr￿bY1¢[Y ol-lhe South W'csi ha5 undert￿iken a Revicw ofthc rcsourccs rcquircd I￿1h ph}'siial and in terms of personnel) in order lo etlectively fijlfjl lis pU￿se on the M￿lern environmenl. Thi% wi)rk remains ongoing. Financial Rei'ieTh' The result$ for the y¢ar atc sci oul in the PrtsbNterv Ara)l￿1% on pa￿ 9 to 18. Rcser%'e5 The Prc%hN¢L Tr held unr¢siri¥lcd funds ol" £?75.91W. r￿lTill•j ti￿d$ ()r£154.553. and endowment funds of ££¥.71)1 the end ot-thL )Ldr_ ThL PreshvteTr' uJnsidLYs thLSL funds will Lnahle It li) pl￿ and finance luturL ei'Lmls in pursuit ol-its aims- elldblc cquipinciii lor Iraining dnd ()IhvT purp()scs 117 bL 0htdillL￿.' and anv necessar)" publiciti. Inal¢rial. Statement of Trustees Respon5ibili¢ie5 The Incmbcrs ofihL PrLshK1LrN' musl prepare financial staiements w"￿"Cli ￿1￿.e wfficicnt dLtail to Lnablc an appreliation ()f ihc transaciions of ￿ pr¢5b￿¢￿' during ihc financial yeitr. "Ihc mcmbcrs ol" Pr¢s'b)QLTr are responsihle for kf¥ping propLY acrounling rccords i%"hiLh. i)ii re4uesi. musi rLIILit Ihe linJnLial wstiion of ihc PTL3b%tcr¥' at that time. This Tnust he dciiiL to Liisurc thai thL linanLial Slatfflients complv wilh ihe Charilies and TnLStee |ln¥'e5tm¢nt I Scoilandl ?W5. Ihc C harities Accounts ISL(Iilandl KebTulatii)n% ?O(Ky and lh¢ Regulations Anent C-ongreg2iiL)nal FindnLT apprub'LYI bb thL Generdl kn*mhlv ol'the ("hur¥h i)t'Scotland in a"hLy arc alfn rc%tx)nsihle f()r 4dfeLiuarding• ihe &ssei% Lifihe Cliurch und Inust tak¢ rc&wnablc sllys for the pre￿.entiOn and'()r detectinn of fraLMI anG Approved by rh¢ Tn￿1¢{£ and sis￿(￿j on ihcir bL.half. Presbyl¢ry of the South W*st Charity Registratlon No.SC 020676 Independent Examlner's Report to the Trustees of Presbylery of the South West Year ended 31 December 2023 I report on the accounts of the charity for the ￿r eThJed 31 December 2023 which are sel out pages 9- 18. Re$p•ctive responslbllhles of Truslees and Ex8m5n•r The charity's iruslees are responsible Iof Ihe preparabon of the accounts In accordance with Ihe lemis ol Ihe Charit￿$ and Trustee Investmenl (Scallandl Acl 2005 and Ihe Charities Aeeounls Iscollandl Regulati¢￿$ 2006 las amended) The charity trustees consider Ihal the audit requiremenl of Regulalion 10(11 (a} lo Ic) ol the Accounts Regulations does nol apply. 11 is my responsibility Ic eXam1r￿ the accounts as required under Section 4411 l (cl of the Accourl and to state whelFEr parb'cular matter5 have come lo my attenlion. Basis of Independent Examlner's Ststement My examinalion Is camed obl in accordan￿ with RegUlat￿n 11 of the Chanlies Acetyjnts Scotsandl Regulations 2006 las amerKledl. An examinat.on inclL*Jes a review of the accounting record5 kept by Ihe charity aThJ a cornparison ol the accounts presented wilh those records. 11 also includes cons>deration of ary unusual ilems or disclosures in the accounts. and seeks explan8bons from the tn￿lee$ conceming any such matter5. The procedure5 undertaken do not provide all the ev￿￿n￿ ihat would be required in an audit, and consequenlly I do nol express an audit Opini￿ on the view given by the accounts. Independent Examinerfs Statemenl In Ihe course ol my examination. no matter has Come lo my atten1￿￿.. 1. which give5 me a reasonable cause lo believe thal in any materials ￿pect requirements. to keep accounliro Ye￿1¢S in accordance with SeclK)n 44{1) la) of the 2￿5 Act and Regulation 4 of the 2006 Accounts Regulath"ons, (as amended) and lo prepare ac(x)LJnls ￿lch accord with the acccMJnling records and u)mply with Regulation 8 of the 2006 Accoun15 RegUla￿"On5 las amended) have nol been mel, or lo which. In my opinion. attention shoukj be drawn in orrler to enable a proper understanding ol the accwnls lo be reached. l arson &. I roiitr C-112rtrrcil iccounianis l 2.7 Irl%h .%tTttI l)umfries l)e¥l 2Pfr- 15th September 2U24 Statement of Financial Activities Y¥ar ended 31 December 2023 Note Unrestricted Restrictèd Endowment Fund$ Funds Funds 2023 2023 2023 Total 2023 Income and Endowments from: Charitablg Activities Balance transfers from th legacy Presbyteries Investm•nl Incomo 116.289 67.138 116.289 170,465 103.327 Grant from Church of Scolland Total Income 98,909 282.996 98.909 386,323 103.327 Expenditure on: Charitable aetivities Other Payments 125,282 125.282 Total Expèndlture 125.282 125.282 Not irncomellexpenditurel before gains and losses on investments Net GainsllLossesloft investments 157.714 103.327 261,041 Net Incomellexpendilurg) Transfers between funds 157.714 103.327 261,041 Net movernent in funds 157.714 103.327 261.041 Reconciliation of Funds: Total funds brought forward 118.195 51.226 $8,791 228.212 Total funds carrled forward 275.909 154.553 58.791 489.253 Pr•8bffti tsf the South West B*anr• Sh••t at 31 O•cemb•r 2023 Total Fund• 2023 Unrestrfcled Re5trkW Endo*m•nt Fundl Funds Funds Fixed Assets In¥e•tments Totsi Fixed As8•1• C￿rr•￿t Assets 64.011 64.011 13.071 13.071 57.635 134.717 57.635 134.717 Ca$h al and in h4nd Total Curv•nl Asseis 211090 211A98 141,482 141.482 1.156 354.536 1,156 354.536 Credrfto Falling duo wlthln one ￿ar N¢t Currnni As5•15 211M9J 141.482 1.156 354,536 Net A•s•ts 275.9D9 154.5S3 58,791 489.253 Tot•1 Fund¥ 275.9D9 154.553 58.791 489.253 Thg accounts were approved by the Presbyl¢ry ol the South Wesl on 13th Septrrnber 2025 Presbytery of the South West Year ernded 31st December 2023 Accounting Policies The principal accounting policies. which have been applied consislenlly in the current and preceding ye8r In dealing with items which are considered malenal to the accounts. are set out below Basis of preparation The financjal statements have been prepared In accnrdance wth Accounting and Reporting by Charilies". Slalemenl of Recommended Practice appli￿ble lo charities p￿pann9 their accounts In accordance wilh the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS1021 issued on 16 July 2014 and the Financial Reporting Standard5 applicable in Ihe UK and Republic of Ireland IFRS102} the Chanties and Trustee Investment (Scotlandl Act 2005 and the Charitie5 accounts (Scollandl Regulalions 2006las amended). Funds Funds are classified as either reslncled funds or unreslricled funds. defined as follows. Restricted funds are funds subject lo specific requirements as lo their 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. Unrestricted funds are expendable al Ihe discrelK)n of the trustees in furtherance of the objects of the charity. If part5 of the unreslricled funds are earmarked at the discretion of Ihe Iruslees for a particulaT Purpose. they are designated as a separate fund. This designation has an administrative purpose only and does not legally reslricl the trustee5 discretion to apply the fund. Incoming resources Income Is recognised when the charity has entitlement lo the funds. any performance conditions attached lo the ilemlsl of income have been mel il 15 probable that the income will be reeeived and the amount can be measured reliably. Donated services and faciliti85 Donated professional service5 and donated faulilies are recogntsed as income when the charity has control over the item. any condi150ns associated with the donated item have been met. the retsipl of economic benefit from the use by the charity of Ihe item is probable and that economic benefit can be measured rel￿bly. In accordance with the Chanlies SORP IFRS1021 the general volunteer lime of corlgregalion members is not recognised.on receipl. donated professional ServI￿S and donated facilities are recognised on the basis of the value of the gift lo the chaTty which is the amount the charity would have been willing lo pay lo obtain services or faolilies of equivalent economic benefit on the open market." a corresponaing amount is then recognised as expenditu￿ In the peritxl of receipt 11 Interest receivable Interest on funds held on deposit is indu(led when receivable and Ihe amount can be measured reliably by the chanly,. this rs normally upon rK)lrficalion of the interest paid or payable by the Bank Investments Fixed assel investments are stated al market value at the balance sheet dale. Unrealised gains and losses represent the difference between the market value al the beginnirKJ and end of the f￿nanCIal year or, if purchased in the year, the difference bewn cost and market value al the end of the year. Realised gains and losses represent the differen1￿ between the proceeds on disposal and the market va5ue al Ihe start of the year or cost rf purchased in ￿ year Taxation Presbytery of the South Wesl is ￿CogniSed as a chartty for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charrtable actwities. The charity is not registered for VA T and resources expended therefore Inc1￿je irretsjverable input VAT tL Pr•sbyt*ry of th• Styjth West Notes forn)ing part of the financial staiements fof the year ended 31 Dec•mb•r 2023 Unr•strict•d Restricted Funds Funds 2023 2023 Total 2023 Total 2022 1 Incomo Presbytery Dues Balance Tfansl•rs Grant from Church of Scotland Event Income 116.055 67138 98.909 234 282.336 116.055 170.465 98.909 234 46,421 103,327 103.327 385.663 46.421 2 Inveslment incom• Deposit interest Total 660 Unrestrlct•d Restricted Funds Funds 2023 2023 Total 2023 Total 2022 3 Exp•nditur• Cl•rk's Salary & Oncost Clerk's Expenses Cl•rk's Telephone Treasurer's Honorarium Sècretary's H¢>norarium Po$tage.Printing & Station•ry Presbytery Offico Pr8sbytgry Officory•l¢phonelwna Mission Dev. Exponses Members Exp•nsos In$uran¢¢ CCLI Presbyt•ry Chaplains incl. Expen Carrick Centre Cat•ring Saffjguardlng Trainlng Offite Equipmenumaini Farming Chaplain Deputy Clerk's salary & Oncost Admin Salary & Oncost Setup Costs Other Rents Audit Foe Co¢hrafi Tru$t Admln Miscellan•ous 58592 2881 58592 8607 671 210 848 5289 1416 1200 210 150 306 315 603 4500 603 4956 616 213 49S6 616 213 2086 400 938 250 724 9420 3213 31196 1408 720 720 3719 432 666 125282 9420 3213 31196 1408 720 720 3719 432 125282 23620 Not•s lomiing part of the financial stat•m•nts for the y•ar ended 31 D•c•mber 2023 2023 2022 4 Staff costs and numbers Satari¢s and wagu co¥ts Social securfty costs & P•nsion Contributions Total 79.697 13.304 8,607 8.607 Tho a¥erag¢ numbef of employees during the year. calculated on the ￿1¥ of a h•ad count. was as follows.. 312022 1} No •mploy•• had ¢mploy¢o bènèfits In excess of £60.000.12022 nil.} S Trustw Rwnuneration and R•lat•d Party Transactions No trust•• or a p•rsoft r•lated to a tmstee had any personal Int•r•st In any contract ov transaction entered into by ¢he charity during the yg•T. Notes forming part of th• finan¢l¥l gtht•m•nts for Ihe year •nded 31 D•cOm￿r 2023 6 In¥estm•nts 2023 Market value at 31 D•C•M￿r 2022 Investments introduced Sale of Investments Unrealised gain I Ilossl on inv•stm•nts Markèt value at 31 Oe¢ember 2023 59.870 74.847 134.717 Investments at cost 116.311 Th• investments h•ld are as lis¢•d In App•ndix 1 7 D¥b¢ofS 2023 2022 Debtors Cr•ditorn 2023 2022 Accruals Analysis of N•t As*•ts Among Funds Gentral Endowment ReStr￿ted Total Invostmenls Curfent As5et5 Current Liabilit￿9 Net assets at 31 D•e•mbèr 207J 64.011 211.898 5T.635 1.156 13.071 141.482 134.717 354.536 27S.909 5B.791 154.553 489,3S3 10 Volunteers In common wlth all Presby1￿•9 of th• Church of Scotland th• Presbytery b￿•fitS from the contribution made by ¥olunt8ers who give their time and talenls willingly for the beneflt of the P￿SbYtery. The areas of Presbytery life which rely on the contributlan of volunteer5 are many and varied and much of the a￿1vIty would b• unabl• io continue wère 1¢ not for th• comrnltm•nt shown Notes forming part of th• financlal st*•m¢nts for the year ended 31 D￿eMb•r 2023 11 Movements In Funt1s At1Jan 2023 Incoming R¢sourc•s Outgoing Resoure•s Transfers Inlout At31De 2023 Restricted Funds 32.909 103.327 18,317 154,553 Unrestricted Funds 282.996 1125.2821 50.8B6 275,909 EndQwm￿t Funds 61.672 12,8811 58.791 Total Funds 161,890 386,323 125.282) 66.322 489.253 The individual Ilst of r¢strict•d and ondowm•nt funds hdd is •$ listed In App•ndiM 2. Presb ier ofthe South West Year Ended 3151 December 2023 ndix 1- Investrnents Held No of Units General PUr￿seS Miss Milroy Bursary Girvari Bursary Hillhouse Bequest- CumrKir Hall Jane Houldsworth Bequesl Fund Lusk Bursary Fund mach￿ Knockgerran Buisary Beaevolenl Fund William Smith Bequest Rev J C Higgins Memorial Furwj Ministry Support Fund William Thomson Beouest General Presbytery Purr05es General Purposes 170 1.000 2.723 1.576 366 452 2.565 1.633 899 214 395 305 843 4.907 85.00 5.260.00 12.471.34 7.218.08 1.676.28 2.070 16 11.747.70 7,479.14 4,117.42 980.12 1.809 10 1.396.90 9.997.98 50,002.33 16.311.55 17 Presb ter of the South West Year Ended 31" December 2023 •ndix 2- List of Indivldual Funds Restricted - Propety Surveys Martyrs Trust 1 Martyrs Trust 2 Chnstian Education Committee Moderators Tour Fuw7d Property Inspection Acc£•unt Ministry Support Presbytery Survey Funds Benevolent Fund Rev J C Higgins Memonal Fund Minislry Support Fund 31.568 7,758 142 14.738 803 22.424 9.520 1.246 2.302 154.553 Endowmenl- Mackie Knockgerran Bursary Trust GITvan Bursary Trust Miss Milroy Bursary Trusl Hillhouse Bequest- cuM￿r Hall Jane Houldsworth Bequest FuThJ Lusk Bursary Fund William Smith Bequest William Thornson Bequest 15.271 16,714 5,830 9,188 2.134 5.241 1,778 58.791