StThomas' 'CHURCH ST THOMAS, CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Scottish Charity number: SC049045
ST THOMAS. CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trusts•s Ch•rlty numb*r IS¢otlandl SC049045 Ind•p•ndènt •xamln•r exander Sh)an LLP. Accounlants and Business Advisers 1 Lochrin Square 92-98 Fountainbridge Edinburgh EH3 9QA Banktrvs Bank of Scolland PO Box 1CK)O BX2 1LB Sollcltorn LMidsay8 clo Lindsays Caledonian Ex¢hange 19A Canning Slreet Edinburgh EH3 8HE
ST THOMAS. CHURCH CONTENTS Pagè Trustees, report Independent examiners report Statement of financial activities B81an¢e sheet Notes lo the financial stslem*nl$ 8-20
ST THOMAS, CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Tru8tee8 we8ent thelr annual report and finanaal 8tatern forthe year ended 30 September 2024. The financ1 8talements have been prepared in accordance with the accounthg Set out in note 1 to the Ilnancial statèmènts and tompty whh thè thalits tonstttution, thè Charibès and Trnstèè Inv•stm•nt (Scollandl Act 2005. lh• Charitios Accounts (Scollandl Regulalbjns 2fj las am•nd•dl and "Accounting and R•poiting by Charities." Statement of Recommended Pracb"ce apK4ubk to charitses preparing Iheir a¢count$ in &ccordan¢t with the Finawal Repo.ng Standard appbxt46 in tho UK and Republc of Ireland IFRS 102116ffe&ive 1 January 20191.. obJ•¢vv #nd #¢Vvltl•• The chanty's objects are to prodaim the truth and wadlcal aPFlcabon of the HL BiL46 and to 8nc4>uraga an individual response to its rnessage of 8afvats"on. Sl Thomas alms to F4eas0 Gtsd In tts publk prai6tr. 10 refiecl HIS In tts seryktr of peoF4e. and lo honour HIM In personal witne85. St Thomo3' Church hos hekl an orthctyjox trvangdical eth from tt$ begning ond Ihi$ wll b• m8inloin•d. Achl•v•m•nts and rfomane• December 2023 intimated his Intent)n to resign as Rector as he l)ad acce posrtlon 01 $thI11 Community Church. Aberdetrn. H• ltrft Sl Thomas, on 29 F•bruory. assumed the rol& of tern Rèctor lor lh• durnllw of lh• v•cancy, and ho$ wlh us evèry month vnr8hlp and fof att•nding Vastry mwts"ng& led th or During the year, our Sunday rnIng wornhip 8ervlces have continued ao ulual. Members leading and also preaching K there wa6 no Invtted speaker. We conllnue lo meet every Sunday evening for Prayer@7. Other regular h•ve )ntInuI,1•4 ty • number of Membe W• ¢onllnuo lo t•¢hnology to faubtat• vr¥hip. Pr3r. pastor4 ¢arn •nd f•lbwshlp. •$pe¢lally for Ihg vtho88 abllty to Joln us onslt• Is roslrtted. HOTh grijtsps continued to meet Ihroughoul Ihe year, •thor In members, hoffs or by Zoom. In Apdl the ¥hort40rn1 contract for our Youlh cam• to an end. kntry de¢Jod noi lo s••k • now youth workor during th• interregnum. Through prnyer, flnancl81 supwl And t•chnL)gy have Atso eothnu8d our Support of ChrislJ8ns btyond our felowshlp, wlth partkdar IS UP Edinburgh tity c•ntr8, the East ErMI of London. and chikjron's WO In Cobmbia. We continue lo support Thorsten and Kerstin Prill as they seek lo determine the next stsge in their ministry. We have continued to efflphasise the need for prayer and 6UPPOrt for the 50 countries on the Open Doorf$ lI¥L Shorty after the year vnd, Ve$lry 4ppointsd on 8n 18 mmth ¢ontr4¢1 J$ • Mini$ty Ass¢tsnL 1118 planned that rMvo in to 81 Gl889)w Rogd as soon as th8 cuThent Ian1 vac4te8 tho propoty. Al Christmas. once again we hosted the ColstohIne Food Project {ntrAf a separate chaiityl. $ting and disln'buting Christma8 food pacages bxal farnl8. W• continu• to b8n•fft from our m•mbèrship ol th• knulitan Con¥rfi Eurcyi {kncwm as ACE), wth • m•mbr of our eongr¢ggtion s•Ning 8$ a Tru$t•¢. ACE is a loundin mernber of the A Ican Nefvrk in Euro {knn as ANIEI and part of Gafcon, under Ihe kadership of the Both ACE and ANIE coth'nue to show signIfnt grrTh We are also affth'ated to the Evangelical Alliance. In Spring, Vosty and Tw8te•s deaded to di8P08e ofthe Re(*0ry ot 16 Bdgrave Road. which is a bryo Vthrian $emkdeta¢hed house ai ihe e•$t side of Corstorphin¢. Imlh a lorge hsIng d¥veloFfftnl to lh¢ wesl. th¢ Trustees are looking fry a mTrdem property nearer the churth and the housin
ST THOMAS. CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review Per the Statement of Financial Activities, Ihe d)arity reported Net Income li.e. a Surplus) for the year of £45,092 12023 - Surplus £20,978) belore gain on sale of the reclory and reported net income of £424,070 after gain on sale of the rectory. Unrestricted general seNe$ for the year ended 30 September 2024 were £130,21812023'. £103.8571. Designated reserves whKh includes the buildings and funds set aside were £1.660.830 12023.. £1.262.5301. Restricted reserves were £5.96212023'. £6.553} Rès•rv•s Pollty It is the policy of the tharity that unrestsicted funds vthich have not been designated for a specffic use should be maintained at a level equivalent lo al leasl three month's nom)al expenditure. The Trustees consider that reserves al this level will ensure that. in the event ol a significant drop in funding. they will be able lo continue the charity's current activities while consideration is given io ways in which additional fvnds rnay be raised. This level of reseryes has been maintsined throughout the year. Funds held by Church The following funds are held by th• Chur¢h Icrf Ihe purpose$ èxplain•d herein:_ General Fund Iunrestrictedl.. This represents the unrestricled funds that are free to be used to lulher the aims and operation of the Church. in accordance wth the Conslrtution. The main income to this fund is general offerings and associated tsx recovered through Gift 'd. and ntaI$. Stipends. salaries and operatng expenses are paid Irorn this lund. Fixe¢J As$¥l Fund ID&signal&dl.. This fvnd repentS the a&pwated hislwi¢ ¢osl of fixed a$se¢s usod by the Church. Discretionary Fund IDesignatedl'. This fund is used al Ihe dis(¥etion of the Rector for any purpose regarded as appropriate. It is funded frorn the general lund. Fatyri¢ Repair Fund IDesi9natedl." This fund 1$ hehj in i¢seN¥ lor lh& mainlenan¢e of th¥ exl$lln9 buildings used by th8 Church. 11 Is funded by transl•rs from th• General Fund and by speufic donabons. A Rectory Fund (Designated). This fund holds the sale proceeds ol Ihe Rectory, deposited into a short-lerm treasury account, and interest earned on that deposit and is sel aside lowards the purchase of a new Rectory. World Ctsncern Fund IReslri¢tedl'. Thi$ fund 1$ specffic81ty intended for the support of Miss)ft outreach in the wider worfd IUK and overseas1. 11 1$ warded as a $1¢1* fvnd. 11 1$ fvnded by specific don81ions and associated Grft Aid tax reco¥ery. A Flower Fund (Restriciedl is in place which is used to provide flowers in church. The Trustees have assessed the rnajor risks lo the charity is eyposed, and are satisfied that syslems are in place lo miligale exposure to the major risks. Plans for Futur• P•riods In the coming year, in addrtion to Ihe pnonty of recruiting a new Rector, we wll conb.nue to.. leam (ogether how Ihe Bible conlinues to appty to our lives and ihe needs of today's world continue to worship and pray in ative ways. both corporatety and as individuals build up the worshipping Gommunty through regular meetings where we pray together encourage our rnembeis to deepen their ielation5hip wth Jesus Christ reach out to friends, colleagues, family and neighbours wrth the Good News of Jesus Chrfst grow as a caring, enthusiastic and OUar(mo0kin9 congregats.on engage wrth the global church in ministry by prayer. and by finanaal support through our Worfd Concem work and pray with other churches both localty and ftjrther afield through Anglican Convocation Europe IACEI. in order to spread the Good News of Jesus Christ and to support faithftjl Anglicans throughout Europe equip people to discover and use their gffts in the seIte of others and to the glory of God rind the best ways to chauenge injusts.ce and better support the least. the last and the lost
ST THOMAS. CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Structure, governance and management St Thomas, Church is a Scottish Charitable Incorporated Organisats)n {SCI0) {No. SC0490451 and govemed by the tems of bts Constitution. The heritable propety of the Church is vested in Ihree propety Tnjstees. who are appointed under the terms of the Constitution. The current propety Trustees are lisled below. A Trusiee 15 appointed by the remaining Trustees when a varanGy arises. The three Trustee5 then nominate three new'Tru5tees in wang. in readiness for the nèxt vae8ney. The whole funds and temporal affairs ol the Congregation are under the management ol the Vestry, members of which are elected or appointed from the body of the congregalion. They. and the ordained clergy and other staff, oversee the day-to-day operations of the Church. The Vestry is obliged to exhibit to the Trustees their accounts of man8gemenl al le8St once each year. Sl Thoma$ Church ho$ two CalorIeS ol Trust$". Vestry members holding office under Ihe 2019 constituts"on. as trustees in tems of Chapter 9 of the Charrties and Trustee Investments (Scotlandl Act 2005. The Vestry members who Seed during the year and up to the date of signature of the financial statements were.. The Trustees, report was approved by the BoaTd of Twstees.
ST THOMAS, CHURCH
INDEPENDENT EXAhlNER'S REPORT
TO THE TRUSTEES OF ST THOMAS. CHURCH
I report on tho fflnandal 8taifftnts of the (arty fi)r thtr ytsr ended 30 September 2024. whk are 86t out on
pages Slo 20.
R•pèctlv• r•8ponlbllltkn of Tru#t••i #nd •xamln•r
The chaty.8 Trustees are Te8ponBlb for the preparallon of th8 finanrjal 8tatement8 kn accordarKè wth the
tem8 of the Charibes and Trustee 1nvtrnent (Scooand) Ad 2005 and the Charhbe¥ Accounts (SCOdI
RegulalN)ns 2LXJ8. The chaTiV8 Tru3tee3 con8¥Jer that Ihe audit requIrewl of Regubtion 1011llal to Icl of the
26 A¢¢ounl$ Ruln8 do¢$ not appty. It b nry r•Wn"Sfy to •Xomin• flnan¢lg18t8t•m8nts 88 r•qulrfrJ
und•r 441111¢) olth•A
ST THOMAS. CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Current financial year Unrestricted Unrestricted funds funds general dèsignated 2024 2024 Restricted funds Total Total 2024 2024 2023 Nots8 Income Imm.. Donations and legacies Charitable activities Investments 118.397 S2,364 12,144 3.750 22.069 144.216 52.364 12.628 154.674 69,298 1,502 477 Total Ineomè 182,905 4,227 22.076 209,208 225,474 Exp•ndlture on.. Charitsble activities 120,715 20,734 22.667 164,116 204,496 Total •xpèndltur• 120,715 20,734 22.667 164,116 204,496 Nel gainslllossesl on Inveslmenlslassets 10 378.978 378,978 N•t In¢om•ll•xp¢ndllur•l 62,190 362,471 15911 424.070 20,978 Transfers be$$n funds 135,8291 35,829 Net mov•m•nt In fund• 11 26,361 398.300 IS91 424,070 20,978 Reconclllatlon of lund8: Fund balances at 1 October 2023 103,857 1,262.530 6.553 1.372,940 1,351,962 Fund balanc•8 at 30 Sèpt•mb•r 2024 130,218 1,680.830 5.962 1,797,010 1,372,940 The statement of financial activrties includes al gains and losses recognised in the year. All Income and expenditure derive from continuing activities. The notes on pages 8 to 20 fonn an integral part ofthese finanryal statements.
ST THOMAS. CHURCH STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Prior financial year Unrestricted Unregtricted funds funds general de51gnated 2023 2023 Restricted funds Total 2023 2023 Notès Income Imm.. Donations and legacies Charitable activities Investments 117.740 89.298 1.290 850 36.084 154.674 69,298 1,502 208 Total Ineomè 188.328 1.058 36,088 225,474 Exp•ndlture on.. Charitsble activities 156.319 11.696 36.481 204,496 Total •xpèndltur• 156.319 11.696 36,481 204,496 Net Ineom•1l•xnd1Iurt? 110,6381 13931 20,978 Transfers behyeen funds 112.000) 12.000 Net movement In lund• 11 20.009 1.362 13931 20.978 Reconclllatlon of lund¥: Fund balanS at 1 October 2022 83.848 1.261,168 6,946 1.351,962 Fund balances at 30 September 2023 103.857 1.262.530 8.553 1,372,940 The notes on pages 8 to 20 forni an integral part of these financial statements.
ST THOMAS. CHURCH BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Notès Fixed assets Tangible assets 13 660.654 1,197,865 Current assets Debtois Cash at bank and in hand 14 6.987 1.133.729 10,203 169.979 1,140.716 180.182 Credltor8'. amounts falllng due vAthln one year 1S 14.3601 15.1071 Net current assets 1.136.356 175.075 To¢al a¥Jet• le¥s curr•nt Ilabllllle• 1,797.010 1.372,940 The lund¥ ol the charlty Restricted income funds Unrestricted funds- general Unrestricted funds- designated 16 5,962 130.218 1.660.830 6,553 103,857 1.262,530 17 1.797.010 1.372,940 The ffnancl81 sttttements were approved by the Trustees on 2 D8cember 2024
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Charity inforrnation St Thomas. Church is a Scottish Incorpofated Charitable Organisation, SCIO Number SC049045. The registered Offi address and prinapie place of business is 7&79 Glasgow Road. Edinburgh EH12 8LJ. 1.1 Accounting convention The financial statements have been prepared in acCOrdar with the charitys Constitubon, Ihe Charities and Trustee Investment (Scotlandl Act 2005. the Charilies Accounts Iscollandl Regulations 20[ las amended) and "Accounting and Reporting by Chanties.. Statement of Recommended Practice applicable to charities preparing their 8ccounts in 8ccord8nce wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffects've l January 2019). The tharity is a Public 6enefil En¢ty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for chantses applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The fin8ncial ststements are prepared in steding. whth is Ihe functional currency of the ch8rty. Monetary amounts in these financial s18ltrmenls a rounded lo the ntr8rest £. The financial statements have been prepared under Ihè historkal cost convention. The principal accountlng policies adopted are set out below. 1.2 Golng concern At the time of approthng th8 financial statèmenls. Ihè Tnjsteès have a reasonabl• expeetalon that thè eharlty has adequate resources to continue In operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounbng in preparing the financsal statements. 1.3 Charltobl• fund$ Unrestricted funds are avaIL9b for use at the disc¥etion of the Trustees in furtherance of their charrtable objectives. Restricted fvnds are subiecl to specific condrtions by donors or grantors as to how they may be used. The purposes and uses of the re5tricled fvnds are set out in the notes to the financAal staternents. 1.4 Income Incomè is recognised when the charty is legalty entitled to it after any perfomiance conditions havè been met, the amounts can be measured reliabty, and it is probable that income wll be recei¥ed. Cash donation5 are recognised on receipt. Other donalion$ are recogni5ed once the charrty has been notified gf the donation. unle55 performance condrtion5 iequire deferral of the 8mount. Inwme t8x reGover8ble in relation to donations receNed under GiftAA or deeds of covenanl is recognised at Ihe time of the donatlon. Legacie5 are rewgnised on receipt or othelse rf the tharity has been notrfied of an impending di8tributs'on, thè amount is known, and receipt is exped6d. If the amount is not known, thè 18gatry is tre8t8d as a contingent asset.
ST THOMAS, CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A¢¢oundng poll¢l•• Icontlnuodl 1.6 Exp•ndltur• Liabihts are recogni3ed a8 exp8nditure as Soon as there 18 a or InStruCte oblvJation comrnitting the ¢h•nty to Ih•t ¢xpnditur$. il 1$ probatts th•t s&tUem¢nt be wuired and amount Ol th¢ ot4ig•lion Cgn b• m8asuf•d or esb"maled r8llatty. Liabikns are Thasurnd on recognitKJn at historKal cost aThJ subsequenty moasured gt the best e8timate of the arnount required to selll& the obbgation al the reporllng date. The 8xcepUon Is that certaln finanrial instwments must be adjusted to their present vak.' these incJde financial lsabilrfi'es where s8tt18m•nl li d•fwr•d for mor• thon 12 months •ft•r IM raporting dal•. AJI 8XndUre is account•d tr on an accruals basis. AJI 8XpS Induding support ¢o$ts and g¢w•rnan¢• costs are alkwaled or apportloned to the apF4cat4e expensture headwws. RAl•ln4 Fund• Expenditure on rai8ing fund8 indud88 all expenditure iicurrod ty a caiity to raise lunds for its ctharitat4e purposes. tt inthdes the c06ts ol 1 fundraisiThJ activttles and events together 1h Ihose cosis incurred in seeking donation5. gran13 and legarAes investmenl managemenl costs. Ch•rtt•Ll• actlvld•• Expenditu on ch8ritat4e actfvlties incknes all costs incurred by the charity In undertaklng aCtivttS that further rt8 charitable aims for the benefit of N3 benefiryg4rie8, inthding th03e support costs and co3lJ relating lo th• go¥om¥nco of th• tharlty apporlon¢d lo th•riiablo ¥GDthUes. Th $ts tsf ¢harrtable actIVS presenlod In the Stat•m•nl ol Finanoal Adivit$ Indua•s lh• ¢osts ol bolh dbr•¢l $•r¥ wovi$w ond th• yMts ol grant awards If apph"cabkn. Grnnt •xp•ndltur• Grnnt$ payobb •r¢ made to Ihifd p•rt68$ in th futheran¢¢ of the ¢haritst4e obied$. The •w•rd ol • grant 18 re¢ognisgd as a Ilaburty oth wh•n tm ¢th•rla lor 8 ¢on$tru¢tN• 08th)ft ar• m•t, P8ym•nt 1$ probgbl•, rt C8n bo m086ur8d relabty 8nd ther• are no condltk)n6 attachlng lo tts payThnt that Ilmrt recognMk>n. In th? case of an uncondiUonal grant ofvr. Ihil li accrued once the recykrynl hao been notifd of the grant award. The nobfficthn gNe6 thtr re(xpnl a reasonable expectatn that they wll rtrceive tho onw$ar or mulb'?•r gr#nL Grant #w¥rd$ Ih¥l ore $ubpd to the re¢iwnl I11n9 perfomonce cgnditlonj are onty •¢cNed when th¢ rlplent has b¢en notfvd of Ihe 9r8nt 0rn1 any wmaining unfvmll¢d condrflon attachlng lo that grant18 Outsid* of the ¢onlrc4 of th¢ charlty. Gov•rn•n¢• co•t• Govomance cosis Ivknlch ar• Indud•d as 8 corwnt of support C$ kn 8f<AydAn¢• vAth SORPI corn$• all costs invofving the put1 accountabihty of the chanty and rts compllance tAtth regulab.on and good pr8dce. These costs incbJde those relaled to constitubonal and sialuiory qUIrents. extemal scrutiny (audit or independent examination). Btrategic management and other and profesonal fee8.
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A¢coun¢ing policies (Continuedl 1.6 Tanglble flxed assets Tangible fixed assets including buildings are initi81ty asUred at cost and subsequentty measured at cost net of depreciats'on and any impairment losses. The Church is considered a Heritage Asset and is not reported in the balance sheet because obtaining the initial cost is not pracbcable. Depreaation is recognised so as to write off the cost or valuation of assets less their resUal values over their useful lives on the following bases.. Fre¢hold1ond and buildings Social investment Fixtures and fittings no dèpfe¢iab'on no depreciabon Straight line over 10. 5 or 3 years Freehold land 1$ not depre¢ialed. The building$ are not depre¢ial&d as the Trustees consider the depre¢iable amount to be immaterial as the residual value of the buildings is not considered to be lower than the cost. Social Investments represent tsvo properties that are not being held lor their iental income 01 captal appreciation but are held for future charitable objectives. The galn or loss arising on Ihe disposal of an asset is detemiined as the difference befven the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial actwits'es. 1.7 Impalrni•nt ol Ilx•d a•8•t• At each reporting end date. the charity reviews the carrying amounts of rts tangible assets lo delemiine whether there is any indicabon Ihat those a$selS have $ufferetl an impaimeni loss. If any such ind¢ation exists, the recoverable amounl of lh& asset 1$ esbmaled in ord¥r lo d¢lermin¥ the ¥xt&nl of th¥ impaimenl loss lif any). 1.8 Ca$h ¥nd ¢•$h equlval¢nts Cash and cash equivalenls indude cash in hand. deposils held at call wrth banks, other short-term liquid investments with original maturilies ol three months or less. and bank overdrafts. Bank overdrafts are Shown wrthin borrowings in current liabilrties. 1.9 Flnaneial instruments The charity has elected lo appty Ihe Provisions of Section 11 'Basic Financial Inslruments, and Section 12 'Other Finanrial Inslrumentslssues. of FRS 102 to 811 of its finanrial instruments. Fin8nC181 instruments arè recognised in the ch81ity's bal8n¢e shèet the charity bèeomes p8rty to the contractual provisions of the instrument. Financial assels and liabilities are offset. wlh Ihe nel amounls presented in the financial staternents, when there 15 a legally enforceable right lo sel off the recognised amounts and (here is an intention lo settle on a net basis or to realise the asset and 5elUe the li8bility simulianeou5ty. BasiTe financial ass•ts Basic financial assets. which include deblors and cash and bank balances. a initially measured at transaction price induding transaction costs and are subsequentty caffled at amortised cost using the effective interest method unless the atrangetnent constitutes a finanung tiaTisaction, where the transaction is measured at the present value of the luture receipts discounted at a market rate of interest. Financial assets classified as receivable wrthin one year are not am0"sed. 10-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A¢coun¢ing policies (Continuedl Baslc flnanclal Ilabllltl•s B8sic financial li8bilities. including rJeditors and bank loans ale initialty iecognised at transaction prioe unles5 the airangetnent constitute5 a financing transaction, where the debt instrument is measured at the prEsent value ol the future payments discounted at a market rate of interest. Finanual liabilrties classified as payable wbthin one year are not amortised. Debt instruments are sub5equentty carried at amortised c4JsI. using the effective Inte$t rate method. Trade creditors are obli9alions to pay for good$ or 5ewvi¢£s that have been acquired in the oidinary coursè of operations from suppliers. Amounts payable arè cjassified as cunent liat>ilth"es if payment is due within one year or less. 11 not, they are presented as non-currenl liabilrties. Tfade credrtors are recognised Initially at transaction price and subsequentty measured at amortised cost using the effective interest method. Dfrrncognition ol financifil liabilities Flnancial Iiabililies are dere¢ognised when the charity's ¢onlrathal obligatlons explr& or are 4l$¢hgrge¢ or cancelled. 1.10 Employee benefit8 The co$1 ol ony unus&il hol9Y &ntffj&menl 1$ recogni$8d in th¢ riod in vthi¢h lh& employ.$ $&rvlc¥$ aro received. Termination benefits are recognised immediatety as an expense vthen the charity is demonstrably committed lo terminate the employment of an employee or to provide terminalion beneffts. Crltl¢•l a¢¢ountlng tIM¥t¥# and ludg•mtrnt• In the application of the charity's accounting polides. the Trustees are requlred to make judgements, estimates and assumptions about the carrying amount ol assets and liabilth.es that are not readily apparent from other sources. The estimates and associated assumptions a based on historical experience and other factors that are considered lo be relevanl. Aclual resums May differ Irom Ihese eslirnates. The $tim81$ and undertying 8$$umplion$ are reviewed on an ongomig basis. Revi$ion$ 10 8¢VnI1ng estimatès are recognisÈd in the period in whith thè estimate is fevised where the vIsiOn affects lY that pariod, or in thè p•riod of th• rèvision and future p•nods where tha fèvision affects both curr8nt and futurè periods. 11
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ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Income from charitsble activitres unrestCted funds 2024 Unrestrlcted fund$ 2023 Rental incorn? Services provided under contract Ch8ri1able rent81 income 19,253 33,111 38,226 31,072 52,364 69,298 13-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Expenditure on charitable activities 2024 2023 Dlrect costs Stsff costs Depreciation and impaimient PrÈrnises Costs Running costs Motor and travel cost$ Legal and professional Accounancy costs Interest and finance charges Governance costs IProfitllLoss on sale tsngible assets 55.365 10,640 34,626 27,288 3,908 6.497 315 184 2,340 499 94.009 11,696 29,624 22.192 5,010 2.375 293 250 2,400 141,662 167,849 Grant funding of activities (see note 71 22,454 36,647 164,116 204,496 AnalyBl• by fund Unrestricted funds- general Unrestricted lund$- dtssignaled Restricted funds 120,715 20.734 22,667 156,319 11,696 36,481 164,116 204,496 Grants payable 2024 2023 250 5,531 7,446 500 6,534 206 4,153 500 2,220 300 9,007 4,000 7,682 elease International Latin Link (for Vive Foundalionl Care Van 5,000 150 2,622 Open Doors Edinburgh City Mission or5torphine Cornmunty Centre (Quiz Night pto¢eeds} Food Project 3,OCKJ 22.454 36.647 Trustees The Rectorfs rernuneration is disclose(l in Nole 9 to the aoxunts. No olher Trustees received remuneration or W85 paid expenses during the ye81. 15-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Employees The 8ver8ge monthty number of employees during the year was= 2024 Numbgr 2023 Numbgr Employment Costs 2024 2023 Wages and $818rie5 Soaal security costs 53,318 2,047 92,378 1,631 55,365 94,009 Redundancy and terniinalion payments lolalling £3,030 We made in the reporting period. Koy Management Remuneratlon The Rector was considered to be key management. His reMuneratn costs. which comprises stipend, employerfs nalional insuran¢e and employerfs pension contributions arnounted to £17,327 in the ye8r12023'. £39.2691. The Rector left his po$rtion in the Church al Ihe end of Febwary 2024. There were no employees whose annual remunerat•)n was more than £80,000. 10 Galns and 1098e• on Investments Unrestrtcted Unrestrlcted fund• fund8 do¥lgnated d•¥lgnated 2024 2023 Gainslllo$$esl arising on.. Salè of property 378,978 11 N•t ineomèllèxpènditur•l for th• yèar 2024 2023 Operating surplus for the year is stated after charging". Fees payable for independent examination of accounts Depreciation of owned tangible fixed asset 2,400 11.696 10,640 12 Taxatlon The chanty is exempt from taxation on its actmties baUSe all rts incorre is aPpld for charitsble purposes. 16-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 13 Tangible fixed assets Freehold land and buildings Soclal Ftxtures and investment fltbngs Total Cost At 1 October 2023 Additions Disposals 528.369 620.438 120.223 1.269.030 2.297 2,297 15,4681 1533,8371 1528,3691 At 30 September 2024 620.438 117,052 737,490 Depreciation and impainnent At 1 October 2023 Depreclation charged in the year Eliminated in respect of disposals 71.165 10,640 14,9691 71.165 10,640 14,9691 AI 30 S&pl¢mber 2024 76,836 76,836 Carrylng amount At 30 September 2024 620.438 40.216 660.654 AI 30 Stsplember 2023 528,369 620.438 49,058 1,197,865 14 Oebtor• 2024 2023 Amounts folllng du• wlthln on• yèor- Trade dtsbtors Other debtors Prepayments and aecrued incomè 1,077 2.179 3,731 3,432 3,080 3,691 6,987 10,203 15 Cr•ditor8'. amounts falling du• within on• yèar 2024 2023 Other taxation and social seujrity Tr8de creditors Other credrtors Accruals and deferred income 671 1,107 37 3,292 313 2,869 4.360 5,107 17-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 16 Restricted funds The restricted funds of the charity wrnprise the unexpended balances of donations 8nd gr8nts hekl on twsl subject to specific ¢A)ndttions by donor5 as tr) how they may used. At 1 Oetobor 2023 Ineomlng regoure•s R•sourc•s At30 èxpend•d September 2024 World Concem Fund Flower Fund 5.855 698 22.069 122,4311 12361 5,493 6.553 22,076 122,6671 5,962 Prevlous year: At 1 October 2022 Incomlng rgsourcgl Resources At30 expended $oPtgmbgr 2023 World Concem Fund Flower Fund Food Project 6.153 793 27.077 127.3751 1991 19,0071 5.855 698 9,007 36,088 36,481 6,SS3 Purpos of R••trl¢ted Fund•. Worfd Conc•m Fund: This fund is Specifical inlended for the suppori of missM)n outreach in ihe wder world (UK and overseas). It is funded by member8. 8pecthc donations and assocjaled Grfl tax recovery. Flower Fund This fund is in placè lo prowde flowers ¢hur¢h. Food Project Funds generated by a church held Food bank proieci. The Fund was fulty expended during the year ended 30 September 2023. 18-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 17 Unrestricted funds - designated These 8re the design8ted fvnds whith have been set aside out of unrestsicted ftjnds by the Trustees for speeific purposès.. At 1 Octob•r 2023 Incomlng r•soure•s Rèsoureès •xpended Transf•rn Galns and logseg At30 September 2024 Flxed Asset Fund Discretionary Fund Fabric Repair Fund Rectory Fund 1,197,865 111.139} 1905.0501 378.978 660,654 1,076 13 150} 1,039 63,589 4,214 {9.545} 24.000 916.879 82,258 918,879 1.262.530 4.227 120.7341 35.829 378.978 1.660,830 Pr•vlous y•ar: At 1 October 2022 Incomlng re•ource• R•sourc08 •xpended Trnnsf•rn Galns and 108•e8 At30 September 2023 Fixed Asset Fund Discretionary Fund Fabri¢ R&palr Fund 1,209.561 I11.6} 1.197.865 976 100 1,076 $0,631 12.000 63,589 1,261,168 1,058 111,6*} 12.IKJO 1,262,530 Purposès of D•819natsd Fund8'. Flxed As8•t Fund: This fund represents the depreaaled cosl ol the buildings with depreaalion being allocated to this Fund. Transfers during the year ended 30 Seplember 2024 represenl funds from the general fund for assets purchased and a transfer to the Rectory Fund of the proceeds ofthe 58le ofthe Rectory. Discretionary Fund.. This fund Is used at the sole discretw)n of the Rector for any purpose regarded as appropriate. It is funded from the general fijnd. Fabric Repair Fund This fund has been Sel up wth transfers frorn the General Fund and donations for the mainlenance of the existing buildings used by the Church. During the year to 30 September 2024, a ftjrther transfei of £24,000 was made from General Funds to this Fund. Income into this Fund represents small donab"ons. Rectory Fund This fvnd has been Set up from a transfer from the Fixed Asset Fund being the Proceeds from the sale of the Rectory and interest eamed on a treasury aw)unt the fvnds are being held in and set aside while the Ttustee5 are considering the puithase ol a new Rectory. 19-
ST THOMAS. CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 18 Unrestricted funds These are the unrestricted fvnds of the charity At 1 Oetobèr 2023 Ineomlng resourtes Rèsoure•8 Èxpended Transf•rs At30 September 2024 General fvnds 103,857 182.905 1120.7151 135,8291 130,218 Provlou$ y••r: At 1 Ottobèr 2022 Ineomlng rè8oureè8 Rè8oiircè$ èxpèndèd Tran$f•rn At30 SoPt•mbtr 2023 General funds 83,848 188.328 1156,3191 112.0001 103,857 19 Analy818 of nèt a•8èt8 b•tw••n funds Unre•tri¢ted Unrn•td¢ted fund8 fund8 g¢Mral d•¥lgnat•d 2024 2024 Ro•trl¢tsd fund8 Total 2024 2024 At 30 Septernber 2024.. Tangible assets Current 888elsllli8bilitiesl 660.654 1,000,176 660,654 1.136,356 130.218 5.982 130,218 1,660,830 5,962 1,797,010 Unrestrlcted Unrnstrtcted fund# fund$ ger)eral deslgnated 2023 2023 Re8trlcted fund$ Total 2023 2023 At 30 September 2023: Tangible assets Current assetsllliabilitiesl 1.197.865 64.665 1.197.865 175,075 103.857 6,553 103.857 1.262.530 6.553 1,372.940 20 Related party tran¥a¢lions There were no disdosable related party transactions during the year12023- none). -20-