The Church of Scotland Edinburgh: Morningside Parish Church ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 DECEMBER 2024 Congregation No.. 010069 Scottish Charity No: SC 034396 Morningside Parish Church Trustees, Annual Report and Aecounts Year ended 31 December 2024 The Trustees preseni the annual report and financial staiements for Momingside Parish Church for the year ended 31 December 2024. The financial slalemenls ha￿e been prepared An accordance with the accounting policies set oul in the noies to ihe accounts and complj with the (Feneral Assembly Regulations for Congregaiional Finance. the Charities and Trustee Investnient (Scotland) Act 200). the Charities Accounls (Scotland) Regulaiions 2006 (as amended) and Accounting and Reporting by Charilies.. SLgiement of Recommended Practice applicable to charities preparing their accounts in accordance iviih the F inancial Reporting Standard applicable in the UK and Republic ot" Ireland. Objects, Activities, Achievements and Perforniance The Church of Scotland is Trinitarian in doclrine. Refonned in Iradition and Presbyterian in polity. It exists to gylorit"). God and to work for the adN'ancement of Chrisl's Kingdom throughout the world. A5 a national Church il acknowlcdg¥c5 a distincliTrc call and dut>' lo bringi thL ordinanccs ol. rcligJ j(In t() thL' PC(IpIL ()I-L.￿.￿r>. P(Irish in Sc()tland Ihr()ugh a tLrrilorial Ininistry. li co-OPL'ratLS With othLr churLhes in various ecumL'niLal tK)diLs in SLOtland and bL'yond. Momingyside Parish Church furthers its charithblc PUTposes by various activilies. General In Ihe lite of every cong7regiaiion ihere are limes ofebb and flow. ot. weakness and strengTih. and of loss and gFain. 2024 saw a gFrcai deal of Slrcngyih and hcalil)y vigyorous life in ihc activiliL'S of. MorningJside Parish Church. for which ￿'e are iruly g7raieful in the face of an increasingly secular ag?e. I lowever. the J'ear ￿'aS also marked by sigynificani bereaieinents includingi Inany who had served our congiregTaiion joyfully and gyenerouslj. for many years and we Inourn tlieir loss. Like any family the Sadness ran deeply and th'ill lake soine iiine io adjust to as ihe Inonth5 g?0 by. but we are mindful of those no lon&ier with us and the part they played in so many different aspects of our church family life. We are grateful for them all. Pastoral work continues to be Carried oul throughout the year by the Minister. Pastoral Assistant. and around 16 lolunteers in a N'isiting giroup who visit members of the ¢ongFregJation who need morg regJular vi511alion. The latter is a quiet. backg7round work bul essential to the well-beingT and support ot. our congr¢gialion. The work of the Presbytery of Edinburbh and West Lothian Mission plan continue8 sloTh'ly but sILadily. 2024 saw two SigFnilicant shilis. In thc gyroupinbJ WL arL in whiLlI includLd FaimilchLad. GrLcnbank. Si John's Colinlon Mains and oUrSel￿.eS. al'ier ihoub,hilul discussi()n it was dLcided that St John's Colinton Mains mibyhi be betler Ailled in another blrouping and so Ihey no lonbJLr form part of our group. Also under ongoing consideralion is the union between Morningside and Greenbank. with Fainnilehead associated in a close parish grouping. Afier helpful discussion by our Kirk Session they. woted in lai'our ol. beginning Lqlks with Greenbank about a union pi'ocess. mindt.ul of the sensitiN'ilies and complexilies sum)unding such a discussion. The process is ongoing. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Objects, Activities, Aehievements and Performance (eontinued) Worship Weekly worship. primarily at the 9.30am Early Service and l 0.30am Morning Worship remain at the heart of congregational life. The Early SeTrice which is held from Septeniber to early June attracts a varied congregalion of beim'een 20-25. The themes at ihe service are broadly the same as the l 0.30am seTr'ice. bui ihe style of the Early Sern'ice is more reflective. and the liturgical style more participative for ihe congregation. As well as strongl J. theological and topical preaching. 10.30am Morning Worship benefits from the input of the choir and organist. The choral scholarship scheme means Ihat ihe blending of scholar and congregational choir inembership can conlinue lo proN'ide an impressii'e range ot"Iradilional choral music. In ?0?4 the choral scholarship progFramme was funded entirely by donations from ihe Friends of Morningyside. priN'ate donations. and fundraisinLT events like Ihe Summer Concerts and the choral eTrensongT ofgTanised by the orgFanisl and choirma51cr. lJndoubtL.dly a highlight of thL' )'caT lor Inan! 15 thL. LL550n5 and Carol. SLrvicL in DLLL'mbL'r. which (Ittr(IcIs (In L'N'cn l(IrL7L'r c()ngFfL'gFali()n th(In usual. In Junc IIIL Lh(iir and orgyani%i IL.d a choral even%ongJ. with donations gJoingF t￿￿'ardS the Lhoral scholar%hip progJrainine. Lii'c-qircaming of sern'iccs is now a weekly. occurrence for ihc l 0.30am service. and the averagc number Ol'vie￿.¢rS is l 00. I I0￿,¢Ver on Lessons and Carols Sunday ihe nuinbers were around 250. When requesied. weddingFS and funernls can be li￿e-streamed too. Holy Wcek services ￿'ere hosicd b). Grccnbank Church. The Ihcn)c was. 'Placc'. Thc Iloly Saturday S¢r￿.1Ce of music and rL'adingJs Mcrc hLld in our C'hurch and includcd rLtILctive rLadingJ and music. Although the pastoral aspects of the sern'ices are key. the ￿'Or.￿hIp element of the annual Reinenibering, Service in April and ilie Blue Chrisimas Service in Deceinber allo￿. Inenibers of tlie congTregJation and the wider communily to gaiher in Church to remember loNed ones who haN'e died as well as difficult memories and siluations in the cominunity and ￿'Ider world. During, the service5 there is an opportunily lo wrile names on stars and aitach thein to our Remen)beringT tree which will be placed beside ihe ¢ommunion lable. These two quieter serN'i¢es are a 5igTniticant addition to our 5¢rvice5 and do attracl SUPWJrt from the wider coinmunity. Hom¢ C.nmmunion 18 offcred Ihrougihout the year by the Minister lo thos¢ who are unable to com¢ to Chur¢h. It is usually tiLd in with ()n¢ of th¢ lour ionimunion s¢'a5()ns. One weekly contribution lo worship. b>reatly enjoyed by many. is ihe contribulion by ihe Flower Committee. The donalLd flow'ers. arranbied bJ' ￿'OlUnteerS. are delivered Io PLopIL across ihe congrebyation and community each Sunday. reminding them of our loN'e and best wishes and difficult and sad times. It is a much appreciated minislry. This year's ElarN'esl collection for the Edinburgh SE Foodbank resulted in ihe largest amount ever being donated - oi'er 316kg. This equales lo food parcels being issued to 38 single people - or 17 families with two or three children - with sutTicient food io feed them for three dajs. It was an unbelievable response. for which the Foodbank at Southhouse was hugelj grateful. particularly as Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Objects, Activities, Aehievements and Performance (eontinued) stock levels have been diminlshing since ihe cost of living crisis. and the pressure on household budgets. has taken hold. Since 2021. the HaTrest appeal for donations to the Foodbank has resulted in oi'er l (metric) tonne of food being collected by our Church. Whilst the main focus on the Foodbank is at Harvest. the congregation continues its support throughout the year. The Local Ecumenical service for the World Day of Prayer took place on I st March in Greenbank Parish Church. The Theme= .1 beg you...Bear with one another in love" (from Ephesians 4..1-3). The service was written by Christian women of Palestine. Outreach and Communication MorningFside Parish Church continues lo retain a sigynificanl commilmenl to the cominunity and widL'r w()rld. Our nL'w inlL'rnali()nal Lharily is ThL. Dai'id Noil foundali()n wliiLh dL.livLr4 Triiuiiia ML.diL411 Training, lor doLlI)rs 8Lrvingy in arLas alli'LIL.d by natural di%a%lL'rs or wa￿. IliLrL.by Lnablingy Ihcill to 8ai'e more lives. Dai'id Noit is a gFenLral and Trascular surg7Lon ￿'orking lor ihL NI IS in major London Ilospithls. For more than 25 years he look periods ol"unpaid leave io volunleer in some of IhL W'l)rld's most dangyLrous war Lones including SarajL'i'o under siegye in 1993. SPLlls in Alghanisthn and in Llandesline hospiials in Aleppo. Ai N'arii)US liines he worked lor the British RLd Cross and Medccin Sans F roniiircs. I loweN"cr. his CXPLriL'nces lcd him lo obscrvL thal. whilL it was useful for him io bring his skills io these areas. his lime in these locations was liinited and more could be acliieN'ed for Ihe w'ounded if he 5peni lime iraining local doctors ivho were perlectly competent in peacetime but lacked Ihe nece55ary specialised skills to deal wilh injurie5 resulting from wars or natural disasters. The charii>' sei up by Dai"id Notl Uses a dii'erse Inix of leaching methods and materials led by a world class faculty of experienced and distingJui5hed surg?eons. includingF U5inb' the iniernel and bring?ing doclors lo the UK for brief training? elperience. Their vision is a global network of medical professiona15 proliding the best care to patient5 in austere or h05tile ¢nvironment5. Support for th¢ F..dinburgh Clothing Store and the DaN"id Noti foundation Thas well Inainlained during the year. Th¢ annuLment not only in singhinby bul convLrsalion that music enables is truly wonderlul. Heart for Art. CJenile Exercise and CJaines AIILrnoon events have also shown growth this year. meeting the needs ol. congregatlon and eoininunily alike. The therapeutic benefits of spending time with animals have long been understood. being with animals does us good. With thal in mind. we arranged a special vlsit from some therapy ponies. giving us a chance to pet. feed and generally enjoy ihe company of these gentle animals. There is also continuing success and an incre&sing in attendance by congregation and community at the several dementia-friendly concerts held throughout the year. A mixture of soloists. groups. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Objects, Activities, Aehievements and Performance (eontinued) instrumentalists and choirs have provided a varied programme. and it has been good to see that local nursing homes in the area hal'e also slarted io attend concerts Whene￿er possible. Increasing links with these bodies has been significant this year. 25 volunteers were able to attend a volunleer celebration organised to thank. in some small way. the wonderful band ot" volunteers ￿'hO haTre helped make Morningside Hope possible oi'er these past three-plus years. Social Social acliN'ities vary slighily each year because of events oulwiih our conirol. e.gJ. Ihere was no Coronation this J'earl Howei'er. Ihe c￿'ent$ which look place were Nery well supported and people seemed to enjo). them i'ery niuch. Cottees coniinue io be seri'ed aher Church Serk'ices every Sunday. The congyregiation and visitors to the Church seem 10 really enjoy (he opponuniiy lo meei and chai and leel part ot" the church community. li is a reg?ular commiimeni which requires social skills and S￿n71nal On Easter Sunday in addition to our usual iradiiional Easter Treais soine beautiful Iranian cakes were made by a new member from Iran who has seiiled in Edinburg)h. In March soup and sandwiches were served lo those attending) Ihe Pastoral Assistant's Traininb, Classes on two eveningis. In April we helped the Outreach Committee wilh the caterinb) for the Beetle Drive which was very popular. In Junc drinks and nibblc8 w'ere supplied to th¢ Choir aftcr th¢y had sun&1 Choral Even8Dngy on th¢ last Sundaj. lor this >'Lar's choral SLholars. An Allernoon Tea was held on Saturday 13th July when 73 people w'ere served. Arranbienienls ere made lo brinb people ￿'Ith Mobilit￿ problems. The ei'enl Invol￿ed niany helpers who bak'ed. made sandwiches. sel tables. arrangied flowers. seri'ed lables and cleared up alierwards. Thanklully everyone seemed lo enjoy Ihemseli'es i'ery much. In December. coffees and mince pies wilh brandy cream were served on the N."0 Saturday mornings of the Christmas Tree EN'enl - Ihe added dram, of musicians from (ieorge Watson's College on the first Saturday and Buckslone Community Choir on the second Saturday. ensured busy mornings. The tunds raised from calering added £379 to the funds raised otherwise by the Communications committee at this event. On the Sunday of the December Family seTr'ice Mulled Wine and Christmas treats were enjoyed again by the congregation. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Objects, Activities, Aehievements and Performance (Continued) At a committee meellng in February 2024. il was agreed that an event would be organised for the churches who. under the Presbytery Plan. were going to be joined in some way. In February 2023 it w'as thoughi that a plan M-ould be in place '"relati￿e1￿ soon" Unfortunately. almost a year later. in spite of many meetlngs a plan has yel lo be agreed. These events are hard work and much effort goes into each one- but they are a vital part of our church's lit.e. Not onl! do the). raise money for the tM.-o charities ii'hich the church supports as well as the church itselt". but they proN'ide an opportunity for members to meet sociall),. provide a 'elcoming experience lo N'isilors and new meinbers and much needed social conlact for so many people. It may bc hard work. but the commiiiec and hel￿r$ claim 10 have a lot of fun and after LxpLnsLs have raised over £8100. li is iheir hope ihai 2025 will Lqually prove 10 be lun and rc'warding. Staffing To quote Charles Dickens. in many ways 20?4 proved to be "the besi of iiines and Ihe worst of times" for Sts￿lng issues. It has been the worst of limes because in ihe lasi year key menibers of staff have been atyected by illness. bul it has been the best oftimes as those affecied are back at ￿'Ork. hopefully having) made a tull recoN'ery. F.ven in the worst limes il is blood to be able lo report there was a willinbjness. P14 rtilularly by the staff. but also by others lo be flexible. to take on extra lasks and b)enerally support whai is n(c¢s￿ry lo LnsurL th¢ smo()Ih runninbJ of the ba¢ks)round op¢rations ol'tli¢ ¢hur¢h. N¢Le%sarily ther¢ has been a need to employ some abyency stsff lo Cover. and bTood as they have been. th¢y do brinbi home how well we are served by our slaff. The Church Administrator continues to brinby her considerable skills lo the role and in her 30 hour wLek has not just manabiLd lo maintain thL work ol. thL oificc but has enablcd probyrLss towards addressinby lonsi oN'erdue issues. As an example. her inlroduclion ol'a bookinby systein has broubyhi a degree ol. eLficiency and prolessionalism to our lellings which have neier been busier. The caretaking team conlinue to work together and liaise closely with ihe administrator to provide the church and ils tenants with a welcoming 0￿ersight. Cleaning work is outsourced and takes place earl! on weekday mornings. The Carelakers relain responsibilit! for the sancluary and tor any necessary "top up" required throughout the da). after use of the premises - sometinies a not inconsiderable task. They also proTr'ide N'aluable support lo the Property Committee including obtaining eslimates and ol'erseeing tradesmen. The Church Officer has expanded his role from simply that of Church Officer by taking on extra hours to assist with Morningside HO￿ and is reported to be a welcome addition to the team. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Objects, Activities, Aehievements and Performance (eontinued) continues to perfonn with excellence the role of Pastoral AssisLqnt to the cong)reg)Lllion. in training. and in the work of Momingside Hope. She continues to work to secure additional funding toTh'ards the continued work of Morningside Hope. Some of the funding continues to be secured from a series of concerts ￿'hICh perfonn a double role of fundraising and hile beino "dementia triendly" are also enjojed by all of ihe large numbers of attendees. 'onlinues lo enjoy his role as Organist and Choinnaster. each year recruiting allu Ll£lllllIlbl LIIUl Store £4.691 2. Moming>side Parish Church £?.438 3. W14 shable Saniiary Pad Project £4.691 Total.. £11.8?0 This b¢inbY fundraisinby of £5.040 received in 2022 and £6.780 received in 2023. The further sum of £1.644 represents lundraisinb) efforts in 2024. There were more lunds raised by thL OulrLach CommillLC in latc ?024 which will be distribulLd io thL SUPPOrted charitiLS durinb, 2025. The tunds will be distributed in line with the usual parameters: The external charities recelve an initial sum of £1.500. Any further funds raised after these payments have been met are dislributed equally between ihe external charilies and Morningside Parish Church. Funding for 2024 came trom various sources. These included the weekly Sunday teas and coffees and coppers collection. Social and Outreach functions and Christmas Retiring Offerings. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Financial Review 2024 In 2024 Morningside Parish Church has several sources of incom¢. nam¢ly congregational offerings. hall rental income. grant income and invesimenl income. In 2024 congregational otTerings (Free Will OfTering and Open Plate) amounted 10 £129.835 resulting in a 9.5 10 increase on ihe 20?3 le￿e1 ot" 81￿Ing of £118.584. The lotAI figure can)e froin Free Will Ot7ering of £119.731 and £10.104 from ihe Open Plaie. The total congregational membership roll as al end December 2024 was 313 of which we could identify 195 active contributing members. An important source of income for ihe Church comes from the gift aid claimed on gift-aided offeringTS. and in 2024 this ainounted to £36.89) (20?3.. £?8.340) thanks to prompl claims lodgTed 'ith HMRC by the Free Will Offeringy and Gill Aid cOn￿ener. Sundry Income. L7ills and donations comprised mainly donalions from members of congTreLyation. Re8lriLled donations recei￿.ed duringy ?0?4 included £il.73? restriLted d 'iiiber. ol'congFrLgyalion and oihL'rs tow'ards MorningTsidL I lopc Project. £648 froiii )i¥'ards Chrislinils TrL'Ls Lxhibilion. £6.8.)O Ir()In mLinbL'rs ol-thL LongyrLg¥ation 14, the choral scholarship lund. £796 towards new lables and £800 towards ihe giivingT campaigyn. The Kirk Session is very grdieful for all donations received during 2024. Income t.rom Weddingjs and Funerals during 20?4 amounied to £860 (2023- £2.995) shown as 'Charitable activities" on pagie ?0 of the Accounis. Rental income in 2024 for use of our premises in Church Halls amounted to £61.057 which represents an increase of 8.30/0 over the 2023 renial income of £56.36]. Invesiment income receiN'ed from dividends and bank interesi amounted to £29.891 in 2024. repre5entingT an increase 0￿.er the total In￿'eStMent income of £?8.694 received in 2023. Under'oiher trading? acliN-ilie5 (see note 3 of the Accounts on pagie ?6) congFregiational fundraising, eN'entS Such a5 a concert5 generaled a lothl of £2.624 (2023.. £2.184) thal includes £2.188 restricted doncltion5 from members of the ¢ong?regalion for choral Scholarship fund and £436 towards Moming5ide Hope Project. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Financial Review 2024 (eontinued) Total income for the y¢ar 2024 amounted 10 £385.546 (2023: £315.014). an overall increase of 22.4% over 2023. The tolal market value of ini'eslments held on behalf of Morningside Parish Church amounted to a tothl ot £761.557 as at end December ?0?4 (2023.. £8?5.386). The t￿,0 holdings were 59.514 units in the Church ot" Scoiland Inveslors Trusi (irowth Fund (value as at 31112124 £379.699) and 34.526 units in the Church of Scotland Investors Trust Income Fund (value as at 31112124 £381.858). "I'he largest elements ot.the Church's expenditure for 20?4 were our Giving to Grow contribution of £100.064 (?0?3.. £92.395). Siarr Costs £ l ? j.8)7 {2023= £108.132) allocaled as £57.567 within raising funds through use of premises and £68.290 to charitable actii'ilies. principally included in the lotal lor 'other salary cosls, £63.910 (?0?3.. £56.102F see note 6. pagTe 27. Org?an and Music 01'£23.376 (2023.. £21.281). Fabric Repairs and Mainlenance £45.352 (2023.. £48.328). The cost ot" rai5ingy funds througyh the use of our premises amounled to £l15.168 (2023.. £79.032). Total Expendilure t.or ihe year 2024 amounled lo £456.00? (2023.. £390.983). One-off expenditure ai Ihe Church and Church Halls duringF 2024 amounled 10 £16.678 (2023.. £21.477). With Income ot. £385.546 and Expendilure of £456.002 in 2024 there was an operating delicit of £70.456 t.or the year lo end December 2024. Afier g7ains on investments of £36.185 ihe nei delicit for the year was £34.271. At (he balance sheei dale the unrestricied reserves were £1.383.061 (2023.. £1.465.503) including desigJnated funds of £65.548 (2023.. £61.021) with £93.119 (2023.. £44.948) in restricted funds. Reserves Policy At 31 December 2024 the Church held three different types of reseTres. Set out below.. At the )'ear end. the Church held unrestricted general funds. excluding Buildings and Assels Reserves. amounting lo £668.534 (?0?3.. £750.674) of Th'hich £?09.457 represented a provision againsl approximately six months expenditure and £459.077 was retained for future developments. The Building5 Reserve stood ai £600.000 and the Asset reserve stood at £48.979. io Morningside Parish Church Trustees. Annual Report And Aeeounts (tontinued) Year ended 31 D¢¢emb¢r 2024 Reserves Policy (continued) The church also held £93.119 {2023: £44.948) of restrictrd funds provided for the following purposes s￿CIfIed below. B¢n¢vol¢nt 9.650 Organ and Music 2.371 Flowers 35 Sunday Club 24 Fabric Fund 126 Audio System Mainienance 1,430 Choir Library Fund I,(M)O General Upkeep Fund 4,144 Pastoral Care and Outrcach Support 525 Morningsidc Hopc 17,937 Morningside Hope- Funds raised for year 4 52.792 Playlist for life fund 2,925 Giving campaign 160 93.119 The church also held £65,548 (2023: £61,021) of unrestricted designated funds provided for the following purposes specified below. Music Fund Organ Fabric Kirk Session Flowers Organisational Funds 3,041 6,395 32,853 5.646 3,831 The organisations for which funds were held included The Cradle Roll. The Wednesday Club and Thc Social Committee. Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Investment Poliey and Performanee The Trustees. investment policy is agreed and monitored by the ste￿,￿rdship & Ftnance Commitiee and endorsed by ihe Kirk Session. The Trusiees seek lo obtain equity and fixed interest income from investments in ihe Church of Seoiland Investors Trust. with a spread of assets allocated to the Investors Trusi Gromih Fund. Ihe In￿eStorS Trust Income Fund. and the Investors Trust Deposii Fund in suitable proportions io provlde a balanced portt.olio producing a rising income consisteni with long iemi capiial growTh. Ai end December 2024 the breakdO￿,n of investments held by Momingside Parish Church in ihe Investors Trust Funds was 49/0 in the Ini'estors Trust Gro￿th Fund and 51 /0 in ihe Inveslors Trust Income Fund. While global stockmarkets have conlinued lo ￿ impacted by ihe hostilities in Ukraine and the Middle Easl. most markets delivered modest gains over the past year and as a result both the Growth and the Income Fund deliN'ered posiliTre returns. The COSIT Trustees continue to participate in the Church ot" Scotland F.thical ON'ersighi Cominittee ￿,hICh ivas established by the 2023 CJeneral A.ssembly with a i'iew lo deliningT and Inakin& public the Church"s investinenl values. Growth Fund The Growth fund. which is managyed by Newion Inveslmeni Managyemenl. is invested principally in L,lobal cquiliL'5 bul also has allocalions lo g,lobal bonds and altLrnalive invLslmLnts (such as holdingys in companics ￿'hICh spccialisc in rene￿.able cncrgy). It scL.ks lo proNidL invL811)rs with Trowth in capital N'alue ￿'hIle dislribulingy an element ol- incoine each year. In Ihe 12-Inonih period to 30 Seplember 2024. the Fund deliN'ered a iotsl reiurn of 13.0% which was Trery close 10 the equivalent 13.3 % return of ARC. Siead!. (ir0￿1h Index which measures the performance ot-a largye number of charity ini'eslors. Ini'eslmenl perlomiance is constsnily kepl under review by the COSIT Truslees. Income Fund The Income Fund. which is managed by Royal London Asset Management. invests in fixed interest bonds both in ihe UK and globally and seeks lo proTride inve5lors with a high and sustainable income and lo prolect the long-terni nominal Tralue of capilal. In the 12-month period to 30 Seplember 2024. the Fund deliN'ered a total relurn of 12.77% which well outperformed 115 benchmark relurn of 9.720/0 . This fund has coniinued to deliver returns over the long7 terin which are better than that of the benchmark against which the Fund 15 jneasu￿d. As at 31 st De¢emb¢r 20?4 the yield on the Ini-estors Trust Growth Fund was 2.120/0 and the yield on the In￿'L.%1()r5 Tru%t IncDme fund w&5 4.97Q/o. 12 Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Plans for Future Periods Hopefiully. MominbJside Parish Church looks forward in ?025 and be)'ond. to ¢onlinuing and ind¢¢d t"uriher d¢i'¢loping th¢ wide Tang¢ of worship and with¢SS already report¢d on above. A key area of uncertainly for the tulure relaies io the finalisation of proposals. trom the Presbytery of Edinburgh and West Loihlan. Ihai the congregaiions of Momingside. Greenbank and Fairn]ilehead should fonn a new supportii'e eollaLN)raiion ￿'1th 2 raiher than Ihe 3 tull time minisiers ot Word and Sacrameni. Originally PresbJier> s prowsals had incliided in the group. the congregalion of St John's Colinlon Mains Parish Church but after months of infonnal discussion Presbytery has agreed to their request thai ihey should join another grouping. The cluster of the remaining congregaiions have informal link's already in existence but the Presbytery envisage there should be a reduciion to ? congregations. For some time. discussions have been undenvay as lo a possible union between Mornin8side and Greenbank and how such a union mib)ht operale but as yet no definite proposals have been worked out. However. there is already much synergy in the work undertaken by both Morning7side and Greenbank and wheihcr as a singyle congiregFalion or in a new larL7er unit there is likely to be a continuation and possible dei'elopmenl of many aspects ofthe work currently undertaken. For example. it is likcly thai the live streamingi of services will continue. allowingl increasin numbers lo participale in a live experience of worship although not able physically lo allend Church. It remains ihe case lewer people cary cash. and while many make their reg)ular g?iving by Bank StandingF orders. Ihere are occasions when addilional gI￿Ing? is needed io pay for tickets or collee or a reliringj oflering, for a special cause. -llJe introduclion of Conlaciless payment machines has been accepted and are widely used- although cash is still Trery welcome. There has been an increased use of the premises both for church focused and community activities a trend which it is hoped w'ill continue. The introduclion of new technology in the shape of 'Hallmaster ha5 enabled greater efficiency in halls lelting and where appropriate feeing. It 15 anticipated that in 2025 the Annual Aulumn leclures will once again be held in collaboration with our neighbour5 at Greenbank and that ihere iN"ill be a return of Speak'er Suppers which have proved popular and an opportunily to Ineel oN'er dinner and learn from different speakers. Coffees after Sunday service5 will continue to provide on a regular basis an opportunity for f¢ll0Th'ship. both for exi51ing? members and Tri5ilor5. Once ag7ain. the Social coinmittee will offer 5p¢cial tr¢at.% al Easter and ai Chri51mas and organi5¢ Oth¢r special ¢v¢nts such as a return of thc p()pular Summer Lunch. Funds raised by ew'enls orgyanised b). IhL Si)cial and Oulrcach committees are shared bLtween the church and 2 external chariiies - The Edinburgh Cloihing Siore and since January 2024 a new. charity t.or us called "The Dai'id Nott Foundaiion The fom]er ofTers free clothing. bedding and towels to the most needy in the community who have been referred by a wide variety of caring 13 Morningside Parish Church Trustees. Annual Report And Aeeounts (tontinued) Year ended 31 D¢¢emb¢r 2024 Plans for Future Period5 (eontinued) agencies. It is staffed entirely by volunteers. a significant number of whom are members of Morningside. Th¢ latter is a humanitarian organisation motivat¢d to sav¢ the lives of the m¢di¢al victims of human conflict and natural ¢atsstroph¢ by upskilling the local do¢lors who care for them. Sadly. the need for such medical skills can be seen regularly in the news. The Pastoral Care Committee. resourced by the Pasloral Assislant. has secured the nexessary funding and will Continu¢ lo d¢v¢lop und¢r th¢ banner of Morningside HO￿ a range of ¢v¢nts to r¢ach out lo those who hav¢ a diagnosis of dementia and th¢ peopl¢ who care for them. Th¢ ¢v¢nts use exC￿lS¢. art and music to ¢nhance their lives. It also r¢a¢h¢s oul to mcmb¢rs of the congregation and the wider community. A very welcorne bi-product of Morningside Hope is that they organise a wide range of excellenl ￿gular concerts Sul￿ble for people living with dementia but ¢njoyabl¢ by all. Thcs¢ conccrts ar¢ opcn to th¢ publi¢ and rais¢ funds for th¢ projcct. A programme of concerts for 2025 is in planning. Through its Kirk Session Committees, the congregation continues to plan for the future. Progress will be needed to resolve the challenges set by the proposed grouping with Fairniilehead, and Grccnbank to cstablish how thc thrcc churchcs will work togcthcr on sharcd projects and ensure that there is a coherent and non4luplicative ministy (o this part of Edinburgh. Generally, it is planned not only to conlinue established activities but to look for new ventures to enrich the life of the congregation and community. Strueture, Governance &Dd ManagemeDt Governing Documenl The Church is administered in accordance with the tern￿ of the Unitary Constitution. Recruihpwnl andAppoinlmenl of Tr￿tte3 Members of the Kirk Session are the charity trustees. The Kirk Session members are the elders of the church and are chosen from those members of the church who are considered io have the appropriate gifts and skills. The minister, who is a member of the Kirk sessio￿ is elecled by the congregation and inducied by Presbytery. Induction and Tralnlng of Trustees Procedures are in place for the trdining of Trustees in areas of responsibility, for example in volunteer roles involving conlact with children andlor vulnerable adults where PVG (Protection of Vulnerable Groups) clearance is required and applied for through Disclosure Scotland. Compliance with guidelines Sel out by the Church of Scotland 15 a requirement of the Trustee5 and is communicated through the Kirk Session and individually to Trustees by en]ail or hard copy, for example compliance with the Bribery Act as set out in the Morningside Parish Church Guidance Notes on Bribery and Procurernent Policy. 14 Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Structure, Governance and Management {continued) Organisalional Structure The Kirk Session is responsible for spiriiual and iemporal afTairs ￿'ithIn ihe church. It nonnally meets for business nine limes a year. The Kirk Session has a number of standing eommittees tl]at help with the more detailed adminisiraiion ot the congregaiion s life. but all decisions on policy remain the responsibility of the Kirk Session. Wider nehvork Momingyside Parish Church is part of Ihe Church of Scotland Presbyiery of Edinburg)li and West Loihian. and as such enjovs Ihe suppori ot" a sirong local as ￿¢11 as a national neI￿ork for rul¢s and guidance on struciure. govemance and managemeni. Risk Management The .1 ruslees haN'e assessed Ihe major risks to which the church is exposed. in particular those relaled to the operalions and finances of Ihe church and are salisfied ihat systems are in place to milibFate any exposure lo the major risks. The finances of the Church are oN'erseen by the Stewardship & Finance Committee on a rebFular basis and reported to the Kirk Session. There is a Healih & Salety Commillee. a PVG (Protection of Vulnerable Groups) Coinmittee t.or compliance and training. Data Proteclion compliance complete wilh a Data Protcclion Oflicer. and a Bribery and Procurement Policy in place. all reportingp to the Kirk Session on a reglular basis. The Kirk Session has identilied three key area of risk for close risk managiemenl as follows.. FRAUD RISK.. in order to minimisL e.¥posure lo fraud. cash handling7 always requires a inininiuin ol. two pLople presenl wilh counlersig?nalures. and there are onl>. two authorised sigynatories (the Treasurer and the Church Accountanl) at preseni for making outgoing pajrnenls such as invoices and expenses. All possible sleps are laken lo ai'oid scam frauds and bank details are only accessible by the two sigynatories with sel'eral layers of security including unique access codes t.or each sign- on to the Church bank accounts. HEAL'I'H AND SAb E'l'Y- as diclaled by the regulations. fire drills for evacuation are organised for the Church and the Church Halls at regular inleTrals. and food hygiene courses and certificates are mandalory for those handling foods for social e￿.ents. PROTECTING VULNERABLE GROUPS (PVG SCHEME).. all elders and pastoral visitors in contact with children and vulnerable adults must ha￿e membership of the PVG Scheme. In addition. all men]bers of Morningside Parish Church staff are required to apply for clearance heck from Disclosure Scotland to confirm identity. nationality. current address and 5 year addre55 history. 15 Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Referenee and Administrative Information Chariiy Nam¢: Morningside Parish Church Chariiy Registration Number.. SC034396 Congregation Ret"erenee No.. 010069 Contact Address: The Church Ofyice 2 Clun). (iardens Edinburgh EH10 6BQ Trustees Members of the Kirk Session: 11 Minister: Vcry Revd During the )'ear to Deceniber 2024 and up to ihe date member of the Kirk Session. resioned and M"0 others. approR"iiq lid lied. Session Clerk.. chU￿h Treasurei.: 16 Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Referenee and Administrative Information (eontinued) Inde endent Examiner IiilelaH' Wells Independent Examiner 9 Ainslie Place Edinburgh EH3 6AT Bankers Roj'al Bank of Scotland plc Bank of Scotland plc 426 MorningTside Road Edinburgh r..H l 0 5QF Investment Manager ThL ChurLh c)I' SLoiland Inveslors Trusl 121 CJL'()rg¥L StrL'et Edinburgh EH2 4YN 17 Morningside Parish Church Trustees, Annual Report and Aecounts (continued) Year ended 31 December 2024 Statement of Trustees, Responsibilities The charitv trustees are responsible for preparing a truslees, annual report and ftnanctal stalemenlg in accordance with applicable law and Uniied Kingdom Aeeouniing Standards (Uniied Kingdoin Generally Accepted Accounting Practice). The law applicable to charilies tn Seotland requtres the eharity trustees to prepare financial statements tor each year which show a irue and fair Niew ot"Ihe slate ot atTairs ot the chariiy and of the incoming resources and applicalion of resources of the charity for thai period. In preparing the tinancial stalements. the truslees are required io.. select suitable accounting policies and then apply ihem consislently. obserN'e the methods and principles in ihe applicable Charities SORI) make jud&iements and eslimales thal are reasonable and prudent. slate whether applicable accountingT slandards and slalements of recommended practice have been followed. subject lo any material departures disclosed and explained in the financial slalemenls. and prcpare the financial statements on ihe gyoingi concern basis unless il is inappropriate lo presume that the charity will continue in operational existence. The truslees are responsible for keepinL proper accounlinLi records which disclose with reasonablc accuracy at any lime the linancial posilion of the charity and to enable thein to ensure Ihal the tinancial slalemLnls comply w'iih ihc Charitics and Truslcc In￿'LS1rncnt {Scoiland) Acl 2005 and thL Charitics Accounls (Scotland) Rcgyulations 2006 (as amLndcd). 'I'hcy arL also rL'sponsiblL lor saleLFuardingy the asse15 01- the charity and hence lor takingy reasonable sleps lor ihe prevenlion and detection of fraud and other irregiularities. The trusiees are responsible for the mainienance and iniegrity of the charity and financial information on the congyreg?ation's ￿'¢b5]te. Legiislalion in the Uniled Kingdom g?oTrerning the preparation and di5seminalion of financial slalements may differ from legislation in other jurisdiction5. Approved by the Trustees on I l March 2025 and Signed on their behalf. Very" Rei il 18 Morningside Parish Church Independent Examiner's Report to the Trustees of Morningside Parish Church Year ended 31 December 2024 I report on the accounts of the charity for the year ended i l Deceinber 2024 set out on pag7es 20 to 36. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparalion of the accounts in accordance with the terms of the Charities and Truslee InN-eslmenl (Scotland) Act 2005 and the Charities Accounts {Scotland) Reg7ulalions 2006 (as amended). The charity trustees consider that the audit requirement of Regulalion 10( I ) (a) to (c) of the ?006 Accounts Regulations does not appl).. Li is my responsibility to examine ihe accounts as required under section 44{1) (c) of the Act and 10 State ￿'hether particular mallers ha￿'e come lo my attenlion. Basis of independent exydminer's stydtement My. examination is carried out in accordance wilh Regyulalion I l of the 2006 Accoun15 Reg¥ulalions. An examination includes a rei'iew of ihe accountingy records kept by the cliarity and a compari50n ot.thc accounts prcscnted with those rccords. li also includcs consideration ol. (Iny unusu(il ilLms or disclosurcs in thc s Costs Church Ollice Expenses Org