Scottish Charlty No. S¢001750
SCOTllsH EPISCOPAL CHURCH
DIOCESE OF BRECHIN
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
REPORT OF THE VESTRY & FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024

ST MARY'S EPISCOPAL CHURCH, BROUGHfY FERRY
Index to the Financial Statements
Page
Legal and Administrative Infofmation
Vestry Report
2-5
Independent Examiners ReF#Nt
ststement of Finanoal ktNitses 2024
SLitement of Financkal Activrties 2023
Balance Shoot
Notes to the accounts
1￿17

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Addr•$s
164 Queen Stre81
Broughty Fe
Dundee
D051
Scottlsh ¢harlty number SC001750
Charlty trustees
Members of the Vestry..
Indopendent Examlnor
Bird Simpson & Co
144 Nethergate
Dundee
DD14E8
Bankers
Bank of Scotland
327 Brook Street
Broughty Ferry
Dundee
DD5 2DS
Sollcltors
Llndsays
Seabraes House
18 Greenmarkel
Dundee
DD14QB

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
REPORT OF THE VESTRY ITRUSTEES. REPORT)
For the year ended 31st August 2024
The Fellowship rs known as the Church of St Mary's. Broughty Ferry arKI it is affiliated lo the
Scnttish Episcopal Church.
The accounts have t￿1 prepar&J in aCcC￿r￿e WTlh the acc(￿n￿ng Fdicaes set oul in note 1 to
the accounts aThJ compty with the Felbjwship's c4)nstitution. the Charitss and Truslee Investrnent
Iscotland) Act 21x15. the Chanties AcoJJnts (S(fjdand) Regutabons 2IX)6 las amended) and
"Accounting and ReF￿Ing by Charities: Statement of Recommended Practice applicable to
d)arities preparing their accounts in accordance with the Financial Reporttng Standard appllcable
in the UK and Republic of Ireland IFRS 102) (effeclive 1 January 20191".
Objectives and Actlvlt
The objecaives of the Vesty are to advan￿ the mission of the Christian Churth. through wc15hip.
service and fellowship. These ot¥ectives are carrEd out throu9h mission and pastoral activities.
The principal aclivibes of the Church are public worship and the spiritual development of its
rnembets.
Achlovoments and perfomwn
St Mary's is an active Thember of the Broughty Fery Churc*￿, Group. an ecumenical grwp of
all the churches in the area. induding Church of Scotland. Roman Catholics. Baptisls, Meth¢dists
and ourseTrrfes, who are prepared to th togelher.
Our halls are used daity. Mof¥Jay to Friday. ty Bakjillo Nurs6ry too. This is a lOn￿e￿n
commercial and provides vital funds the thurch.
Nomially the Motherfs Union hold their meetings ￿ the se(x)nd and fourth Tuesdays. but to
the dwindling membership and the health restric￿n$ caused by COVID 19, their meetings have
been restricted to telephone calls and rxcasional socaal galherings when pennltted.
We use tjoth the Prayer Book and the ScJ)ttish Liturgy 1982 revised (2022) at ditferent seTrices
lo accommodate drfferent tastes in ￿rshIp. We also celebrate Evensong on the first Sunitsy of
the month.
Flnanclal Rovlew
Financial Report
Qur income amounted to £93.636 indudmg Iyies of £5,1Krf). This ￿ much appreciated. but I
am afraid that the Treasurer wtll need lo ask all members to review their level of giving. Currentty,
l am predicting a shortfall ofjusi over £100 per month. There are a few members who have already
rewewed their level of gNin*thanks to them for their generosty and foresight.
Our expendFture is subject to the pre&sures we feel at horne. We have been fortunale to have
secured some g¢xMJ rates for heating and lightiTrJ. Iw may the rates (x)ntinuo. We will so(￿ be
reviewitvJ our insurance next year as ow &year F*thage mr*s to an SCM.
Our investrnertts have Shr￿ a very healthy incxease in values at the erKI of August. How•ver,
we cannol rely on Ihe values continuir¥J to rise. especi811y with Wofld economics the way they are.
The income p￿￿Y has twi improved and gives our bank balance a heatthy boost ￿lce a year.

ST MARY'S EPISCOPAL CHURCH. BROUGHTY FERRY
REPORT OF THE VESTRY (TRUSTEES. REPORT) (continued)
For the year ended 31*1 August 2024
Inveslment Policy
Investments are held in the Scottish Episcopal Church Unit Trust Pool {UTPI. The inveltrnent
obieth.ve of the UTP. which accords thal of ts Vestry. is to eam a retum on the assets. over
the long temi. gJffi¢ient at least to maintain the real value of the distributK)n to unrt holderts. The
objective was achieved in the year under rev￿.
structure, governance and managoment
The Bishop of Brechin has pastoral oversight of all congregkn.ons wrthin the dK)cese. and all
congregations are subj.ect to Canon Law of the Scottish Episcopal Church. The members of the
Vestry nomalty hold Off￿ for four years and are elected at the Annual General Meetin9. The
Vestry secretary and the Treasurer are appointed by the Vestry. The Recior is appoinled by the
Vestry and the Bishop of the diocese.
Day to day managemerrt is defegated to the Rector th the Vesty authorising policy relating to
tempctsl affairs and ap￿inting staff. The Rector is resF￿￿Sib1e for the spiritual affair5 of the
Church.
I new vesty members are rKovided wth a copy of "GuM88nce for Charity Trustees" isS￿d by
the Office of the Scottish Charity Regulator vthen apwnted.
Risk Management
The Vestry reviews on a regular basis the rnapr risks to whith th8 Churth is exposed, and
systems or procedures have been establrJhed to manage those risks.
R•fèrenc• and Admlnlstratlv• Detslls
Thts infomiation is shtr4m on Page 1 of the F1Th3fKaal.Statements.

Greetings & salut8tionsto the brothers and sisters ofst. Mary's Scottish Episcopal Church!
Turning towards a new year together. we will see:
1) an increase in our Worship Provision. both in terms oftempo 8ndv8riety.
21 a continued transparencyfrorn your Vestry:
31 new Vestry Officers:
41 hope in a growing number of Communicant Members: &
5) an up tempo in our Mission. Pastoral & Outreach oumiorkings.
Regardlng our Wor8hlp Provi8ion, l am looking to introduce a form of Messy Church in 2025¢e;
moreover, we will welcome more volunteers in varying capactlies acros8 our differeni seNices. Our
musical tradftion is deepening and though we say goodbye to our p18cement student, we arl
de8p8ningallaspects of our worship, for which l am prayingand arn grateful.
Regarding your Vegtry. we will see 8 change in Vestry Secretary and Vestry Treasurer. this year: what
YOU 8hould note. however. is ourcommitment to transpafency and clear lines of comrnunication
between ourvestryand the greater Membership. We expect th81 you'll lel us knowwhen we don't
provide this. We shalltake this brief opportunity. and a fullerone in time. to thank with grateful hearts.
the many years of service both outgoing officers have given to the life of your Vestry; thank apd bless
you both. Graeme and Fional
Reg8rdlng our Memljershlp. Canon 41 forms were requested ofthose attending our 2024cewoTship
services. and to date 52 have been recorded. plus or minus 2-3 due to attrition. Blank forms will now
be kept in the blue leverarch binder bythe North Door tor any potential new members tofill kn. We
hope and prayih8t St. Mary'8 contlnuesto be a beacon ot P8ac8. joy. fellowship & welcome tor all who
walkwith us on this journey of Faith.
Finally, regerding Mlsslon. Pastoral Affalr$ 8nd Outr•ach.18St year. while on her
placement with us as an Ordinand, launched 2 n8w initiatives th8t we rlrp. kE5?.n lo sust8in an# 8row'.
our Player CiicLes 8nd the PAStoraLVisitots. Each church member is assigned to a P￿eLC￿CLe, and
is prayed for by the Prayer Lead of said circle; we meet every 6 months. or sooner a8 require(I tor
prayer, fellowship and system checks. The PastoGqLYisitors are currentlya small. discreet group of
those who feel called to visit. listen and pray with the lonely. the ill, the recovering etc...
We will continue to join together for social activities. such as lestrval meals and seasonal gatherings;
wewill also have anotherTeddy Bear Parachute Drop, on 14June @ 88lmossie Fire & R8scue Station-
811 proceeds will be split between the Fire & Rescue Service Trust and Aberlour. again. l envisage that
our homegrown knrtters will continue to support our Mission work wtth various projects. as in previous
years. and we thank them for their continued service.
Finally, l am hopetul that in addilion to Baptisms. Funer8ls and perhaps a wedding ortwo, wewill have
candidates for 8 Confirmation Service this comin8 yeaf.
There will be much morto experience. and far more you and God will bring to our corporate Church
life. thi8 comingyear, and l aTn so gratelul to beyour Rectoron thls comlng journey! God bles$ you!

ST MAR Y'S EPISCOPAL CHURCH, BROUGHTY FERRY
REPORT OF THE VESTRY ITRUSTEES. REPORT) (contlnued)
For the year ended 31•t August 2024
Statement of Responslblllll•s of IAombors of the Vestry
The Trustees are resW)nSit￿e for preparing the Trustees, Re[￿ and the accounts in 8cconYanc8
with appluble law army Unrted Kiwd(Kn AcAxJntsng StaThJards (Uniled lQngdom General
Accepted Accwnting Prdctice).
The law applicable to cherities in Scolland requires Trustées to P￿pare ac￿￿nts foi each
finanual year whK* gwe a true and lair view of Ihe slate of affairs of the Fello*%hip and of Ihe
inclxning fes(xJrc8s and applicalim of res(￿re4$ of the Fdbwship for that year.
In preparing th&8e a(U￿nts. Ihe Truslees are required to..
Select surtable accountir#J Fx)li(aes and then apply them cor*lstenty.
Observe the rneth￿ts aThJ prln(?ples in the Charities SORP.
Mako judgements arKJ estimates that are reason8ble arNJ pmdenl.
State whether appluble accountin9 slarKlard5 have been followed. 3ubJeGI ￿ any
material departur8s disclosed and explain&J in t￿ accounts.. arKI
Prepare the a(*J)unls on the 90iThJ conc8m basis unless it Is inapprowiate lo w￿uMe
that the tharity wll continu8 in operdtK)n.
The Trustees are reswnslbFe for keeFrfng sufficient accounting rec(*ds that disclose wilh
rèasonable accuracy al any time the financial ￿K￿rt￿n ol the Fellowship and enable th•m to
ensure that tho 8c¢ounts the charl￿ arKI Try￿le8 Inv8strnenl (Scouand) Act 2005,
the Chanties Acc(yJnts (Scouand) R8gulab'ons 2ixKS las am8nded) and the prowsions of the trust
deed. They are also respon&ble for safeguarding the assels of the Fellowship and hen¢e for
taking reasonable steps the prevention and detecti￿ of fra￿ and other irregulants'es.
Concluslon
In concltssion. the Vestry wishes lo thank all member5 of the C¢)ngregation who help in so many
different way3 in carying on Ihe Work of thè Church. without whom nothing would be possible.
BY ORDER OF THE VESTRY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST.
EPISCOPAL CHURCH BROUGHTY FERRY
I report on the financial statements of the Charity for the year 31¥1 Augl￿t 2024.
ibilities of trustees arKI examiner
The Charitys truslees a￿ respN)nstble for the preparation of the finandal ststemerts in
accordance vAth the temis of the Charrties and Trustee Investrnent (ScL)tlaTrJ} Act 2￿)5 the
Charities Ac(xwrrts (Six)darKI) Regulatsons 2(￿. The Chanty trustees oJnsKler that the
requirement of Regulalion 10<1)(a) lo {c) ol the Accwnts Regulations does not apply. 11 E my
responsitylty to examine the financial statements as required under sectM)n 44{8)Ic) of th¢ Act
and to stste wfther partI￿lar matteT5 have come to my attention.
Basis of ind
ent examinerfs ststement
My examination is c*ried out in acccxdartt tmth Regulaticn 11 of the Charltles AccoJnts
{ScoUand) Regulations 2006. An eXaMina￿n irK4udes a review of the a(tt)untsng records kept
by the Chanty and a cx)mparison of the fina￿101 statements p￿sented wtlh those recorth. 11
also Includes consideration of any unusual item5 of di5d05ures in the financral 5talemenls and
seeks explanab.ons from the Trustoos c(xKeming any SLKh matters. The procedures undert•ken
do not provide all the evK1ence that woubd b8 required in an audrt and (xmwuently we do not
express an audrt cpini(m on the given by the fin￿Cial statements.
Inde
rKlent
xaminef5 Statement
In the course of my examinalion, no matter has come to my attents"on.
ich gives me rea￿)na￿ ￿uSe to b81ieve that in any matwial rwe(a the
requ1￿ments..
to keep accounting reC￿[￿S in accordance with Section 44111 of the 2LYi5 Acl and
RegU￿tion 4 of the 21￿)6 A(￿ounts Regulati(￿s. and
to prepare f￿a￿JaI ststements whith &cJ)rd wrth th8 acc(￿nts.ng records aThJ
comply with Regulation 8 of the 20￿ A￿￿tS Regulations
have not been mel,
to which, in my opinK)n, attention should be drawn in LYd8r to enable a proper
underslandirMJ of the financial ststements to be reached.
11
Dated
Bird Simpson & Co.
Chartered Acrx)untants
144 Nather￿e
Dundee
DD14EB

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
STATEMENT OF FINANCIAL AcnvrriES (INCLUDING INCOME AND
EXPENDwfuRE ACCOUNT)
For the year ended 31¥t August 2024
UnMtrlct
Funds
Fabn"c Reclory
Fund
FuTrJ
R•strlcted
Funds
Totsl
Funds
Total
Funds
Ordv)ary
Fund
2024
2024
2024
2024
2024
2023
Donations and
L8g8CIèS
Charitable activit
Investments
28,936
36,936
41.601
76,768
35,115
41,601
T1￿ Income
125,854
Exp•ndltur• on..
charrtab￿ 8CtNites
88.878
8.069
455
97.402
121,991
TO1￿ Exp6nditurn
455
121 991
Nel
Inwmgllexpgndtture)
(5.2951
(69)
1.598
13.7661
3.863
Transfers between
funds
(691
69
Othw re(tsJnised
g8inslllossesl'.
Galnslllossos on
revaluation of
investr￿n1 assets
37.144
5,846
42,990
7,393
Nel Movement in funds
Reconal¢ation of
Funds..
31.780
39.224
11,256
Total Funds at 1#
Sept&mbor 2023
773.339
837.022
825,766
Total Funds at 311¢
Augusl 2024
805,119
71.127
876.246
837,022

ST MARY'S EPISCOPAL CHURCH. BROUGHTY FERRY
STATEMENT OF FINANCIAL ACTivmES (INCLUDING INCOIAE AND
EXPENDITURE ACCOUNT)
For the year ended 3101 August 2023
Unr•strl¢l•d
FuThd$
Total
Funds FufHIs
Total
Funds
Fund
FuThJ
Fu￿1
2023
2023
2023
2023
2023
2022
lTrcom• from:
Donations and
Legacies
Chanlable acti￿lIeS
Investments
68,768
76,768
39,364
35.115
35.115
34,066
Total Income
115.955
1.899
125,854
85,326
Exp•ndltur• on:
charilab￿ ￿¢[¥11*$
78.519
40,034
121,991
72,565
Total Expenditure
78.519
40.034
121,991
Nel
Incornellex￿drture>
37.436 (32.0341
11.5391
12.761
Transfer5 be￿een
funds
118.724)
18,724
Other reCOgn￿ed
gaIn￿{k)sseS>.
Gainsllk)sses on
revaluation of
invostment assets)
11.779}
1.005
7.393
'187.1701
Nel Movement in fiJnts
Reconciliatron of
Funds..
25.1(M)
113.3101
15341
11.256
<76,1881
Totsl FU￿1$ at 1
September 2022
748.239
13,310
64,217
825.766
901.954
Totsl Funds at 31"
August 2023
773.339
63,683
837.022
825,766

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
BALANCE SHEET
As at 3111 August 2024
2023
2022
Notes
Flxed Assets
Tangible Assets
Investments
320,000
515.664
320,000
472.674
12
Curront As60ts
Debtors
Cash at bank and in harmj
14
1.859
43.226
45,085
1.840
67,498
69.338
Llabllltles
Creditors." amounts fallirwJ due
wrthin one year
15
14.503)
124.9W)
Net Current Assets
40.582
44.348
Total Not Assets
876.246
83
.022
The Funds of the CPwitr.
Unre51rided Funds:
Ordinary FurKI
Fabric Fund
Rectory FurKI
16
805.119
773,339
63,683
837,022
837.022
876,246
The notes on pages 10 to 17 fonn of these accounts.
and signed on behalf of the Vesty

ST MARY'S EPISCOPAL CHURCH. BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMEKrs
For the year ended 311t August 2024
Accounling Policies
Accounting Basls
The acuKJnts have been p￿pared in ac(x)rdance with applicable ac(xKJnling standarfs. the
Statement of Recommended Practi￿. "Acc￿nts￿g and Reporting by Charities". pr￿aring
their accounts in ac()Yda￿e ￿ryth the Finanoal Repx)rting Standarts aFplieable in the UK
and Republic of Ireland (FRS 102) issued on 16 July 2014 the Finanual Reporting
Standard applicable in the United Kirbgdom and the Rewblic of Iretand IFRS1021. the
Charities and Trustee Investment (ScollaTrJ) Act 2005 ar￿ the Charilies Ac¢ounls
Iscouand) Regulati￿$ 2006 {as arne￿).
The accounts have been prepared utx1ef the hist(%ical cost convention wilh items
recognised at cost or trdnsadh)n value unless othépwise stated in the relevant not•ls} to
these ac£ounts.
Al the b'me of approving the accounts. the Tru5tee5 have a reasona￿ expectation that the
Fellowship has adeqvate resources to conb.nue in operational exislence for the foreseeable
ft51ure. Thus the Trustees continue to adopt ts going (x)ncem basis of accounltng in
preparing the acccxjnts.
Charltable funds
Funds generated or drawn on via the Inc￿ and Expendiiure Accwnt are dassffied as
either unreslricled funds or desunated fiJTrJs or reStr￿ted funds. defined as follows..
Unrestricted fvnds are expendable at the dIsC￿tion of the Trustees in furtheraftce of
the ot4'e(ts of the chanty. OeswJnated funds are also un￿5￿Cted but have been
ringfen￿￿ by the trustees to maet a part1(aJ￿r purpose.
Restricted fvnds are subj'ect to Sp￿ condit￿nS which may be declared IV the
donor.
In¢omlng Rèsour¢os
Income is recoJnis&J ¥¥hen the Fellowship is legalty entitled to il after any perfwronce
condtbons have been mel, the amounts can be measured ￿lIablY, and it is probabl• that
income V•ryll be received.
Cash donats.ons are re(￿nised on re(xpt. Other donations are recognised onc¢ the
Fellowship has been notified ofthe donalion, un￿￿8 perfomance conditions require deferral
of the alr￿unt. Income tax recoverable in relati(￿ to donations received under Gift Aid or
deeds of covenant is recognised at the time of the donatson.
Legacies are reCOgn￿ed on receipt or otherv4758 rf th8 Fellowship has been notsfied of an
impending distribution, the am(￿nI is known. and r￿lpt is expecled. If the arnount its not
known. the legacy is treated as a u)ntiThJent asseL
10

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMEKfs (continued)
For the year onded 31*1 August 2024
Accounllng Polkies c(Mrtlnued
Resources Expendod
Resources expended are induded on an ac(yua15 basis and alkK2ted to the appropriale fund as
a liabilty is incu￿ed. Expenditure includes any VAT iannot be fulty recoveréd. and
rèported as part of the expeTrYiture to *hich it rdates..
Charitable eXper￿lture Compri￿ ￿sts in￿rred ty the charrty in the delivery of Tts athvtties
and ser￿S f￿ its bene[W￿S. It includes tth costs that can bo alkKated diredy to such
activrligs and ttw costs ￿ an indired nature rbecesw to supwt them.
1.6 Tanglblo fixod assets and deweclation
Tangible fixed assets are ststed at cost less depKeoation. Depreciation is provided al rales
calculated to write off the cost less estimated restdual value of each asset over its expect¢d useful
lrfe. as follovbE."
Land and buddings - No depre(xati
The gain or loss arising on the disimxal of an asset is detem)ined as the dIffe￿n￿ betsyeen the
sale proceeds and the (8rying value of the asset and is recognised in net incomel (expenditure)
for the y8ar.
1.7 1mpalrn￿nt of fixed assets
Recoverable amount is the h￿her (rf fair value less costs to self a￿1 value in us8. In assessing
value in use, the ests'mated future cash Ilows are disrJ)unted to their present value usin9 8 pre-
tax discount rale that reflects current market assessments of the time value of money and the
risks specffic to the assei for which the estIrr￿leS of future ￿$h Ilows have nol been adj(Eted.
If the recoverab￿ amount of an asset ts estrnated to be18ss than ts caffytng amount. th8 Q8rrying
ar￿Unt of the asset is reduced to its recoverable aThh)unt. An impaim)enl loss is recognised
immediately in in(x)mel (expetNJiture) for the year. unless the relevant asset is carried at a
revalued amount. in V*t*ith ￿se the impaiment loss is tr6ated as a revaluation decrease.
Rec()3nised ImpainY￿ bsses are reversed rf. arKI only rf, the reascffts for the Impalm￿ Foss
have ceased to apply. Where an impairment loss subsequently reverses. the carrying amount of
the asset is increased to Ihe ￿VIsed estimate of ts rec£)verable amount. but so Ihat the intteased
carrying amount does not ex￿e￿ the carying amcmjnt that would have been detemiined had no
impaim7ent loss been reccKJnised for the asset in prior years. A reversal of an impairment loss is
recognised immediately. unless the relevant asset is carried in at a revalued amount, in which
case the reversal of the impaim)ent bss ts treated as a revaluab'on increase.

ST MARY'S EPISCOPAL CHURCH. BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31•t August 2024
Ac¢ounling Policies continued
Flnanclal instruments
The chanty has 8le(tt8d to appty the provisions of S6¢tiM 11 'Basic Finan(#al Instrwbents,
and S8clion 12 '0thw Financial Instruments Issues. of FRS 102 to all its fihancial
instruments.
Financial instruments are recognised when the Charity b8comes party to the contraGtual
provistons of the instrument.
Financial assets are offset. with the net amounts presented in the accounts when there is a
legally enforceable righl to set off the re(￿￿nised amwnts and there is an intent￿n t9 settle
on a net basis or to realise the asset and setue the1￿bilIty simultaneously.
Basic financial assets
Basic finanaal ass8ts. whth indude debtcms and ￿sh and bank b858nces, are hitially
measured at transaction price induding transath.on costs and 8fe subsequenuy caryied at
amortised cost using the effedive interest metlmxl unless Ihe arrangement constttutes a
financing transa(*'on. vthere the tranSac￿n is measured at the yesenl valLJe of the future
receipts discounted at a market rate of interest Financial assets dassifi8d a5 recoivable
wilhin one year are nol amOrt￿d.
Basic financial liabilibes
Basic financial lialylilies, induding 1Thlrf1(Ks ar#Y bank klans are initially recogniged at
Iransadion pric8 unless tho arrafvjement constitutes a financing transaclion, where thè debt
instrument is measured at the present value ol the future payments discounted al a market
rale of interes1. Finanual 1rdbilit￿S claSSrf￿ as payable wthin one year are not amortised.
Debt instruments are subsequenlly carried at 8mortwd cost, using the eff8CtiV8 lrterest
rate method.
Trade ueditors are obl￿tIOnS to pay for g(XKJs (x Servic￿ that have bwi acquired In Ihe
ordinary (￿￿r$e of operatM)ns from Sup￿￿ers. Amounts p8y8ble are classified as current
li8bilil*s rf payment is due within one year LY less. If not, they are presented as non4¥rrent
liabilities. Trade creditors are recognised inittally al Iransadion pri￿ and subseqvenlly
measured at amortised (x)st uswu the effective interest rneth{￿.
Employoe beneffts
The cost of any unuwl holiday entitlement is reQ￿nised in the period in which the
employee's servws are received.
Termination b8nofits are recognised Nnm6diately as an expense when the Charfty is
demonstrably committed to temiinate the empbyment of an empkjyee or to prDvid8
t8mination ben8fi1s.
12

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMEKfs (contlnued)
For the year ended 31 It August 2024
1.10
Retiremont bon•fft•
Payments to defined contribution retirement benefit schemes are charged as an expense
as they fall due.
2. Crltlcal accountlng estlmato• and Judgomonts
In tho application of th8 Charity's accounting policies, the Trustees 8re required lo mak8
judgements, esb'mates and assumptlons about the carrying amount of assets and Ilabilities
that 8re nol readily apparent from other sources. The estimates and associatèd assumptions
are based on historical experience and other factors that are considered lo be re18V8nt.
Actual results may differ from these estimates.
The estimates and underfw'ng assumptM)ns are revi8wed on an ongoing basi8. Revisbns to
accounting estimates are recognised in the peritxl in which the estimate is revised where
thè rèvision affects only that peri¢xl, or in the period of the revlsion and future periods where
the revision affects both current and future periods.
Unrestricted
Funds
Fabric Rectory
Fund
Fund
Restricted
Funds
Totsl
2024
Totsl
2023
General
Fund
3. Donatlons and Legacles
Congregational givlng
Oonations and grfts
Legacies receivable
Grant r￿1Vable
21.236
1,652
21,236
9.652
5,000
1.048
24.137
10,207
41.000
1.424
76.768
8.000
28,936
4. Income from Charttablo
Actlvltles
Rent and Hall lets
Sal8 of Church Magazines
Concerts
Fundraising
Special Collections
Other Income
37,3
37,390
34,248
65
300
509
1.414
300
509
1.414
802
5.115
41,601
41,601
5. Investment Incoffte
Unil Trust Pool diStribUt￿nS
Bank Interest
13,046
2,053
15.099
1b.970
13.046
15.099
13.971
13

ST MARY'S EPISCOPAL CHURCH. BROUGkrrY FERRY
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31st August 2024
6. R•sources expendgd
on Charitable
Activilies
General Fabric
FuThJ
Fund
Redory Restricted
FUTr
FurKI
Totsl
2024
Totsl
2023
Gross Sts'pends arvj salaries
Employer Nl (£MrtributK)n5
Pension contriixrtw)ns
Sundries
Worship cx)sts
Fabric costs
Quots
Mission Support
Governartè Costs
33,618
33.618 28.370
10,366
3,877
1.092
26,715
10,438
1.932
10,366
9.525
3,877
3.555
1.092
1,416
35.239 67.681
10,438
10.524
1.932
8.￿9
455
720
97,402 121991
88.878
8,(k59
455
7. Related Paty Trdnsactk>ns
A Quota 15 paNJ by St Mary's to Ihe Diocese of Brethin to suptmyt the woth of the D￿se
arKI ofthe S¢x)ttish Episoyl Church as a whde a￿1 amounted to £10,438 (2023- £10,524).
8. Trustees. Remuneraikn and Benefits
The Reclor receNes remuneration. benefits and reimbursement of expenses in res￿￿ of
serVI￿S tKovided as Sti￿ndiary defi￿ in line wrth s(£16s detennined by the Generydl Sync#J
of the Scottish Episcw Churth.
DurirYJ the year the ￿ in his capacity as Rector. re¢eived
renumer&'M of £32.19212023- £27.2851, Pension ￿ntribUtiorS £10.366 {2023- £9.525}
and was paid expenses of £1.426 {2023 - 1.085) fu statsonery. administration costs,
telephone and heat and Iw3ht (£&s etc.
DunrvJ the year no trustees received expenses other than the rector. (2023 - £0}.
14

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMEKfs (contlnued)
For the yoar ended 31 St August 2024
9. Staff Costs
2024
2023
Wages and Sataries
Social Securtty Costs
Pension Conth'butions
33,618
,370
10.366
43,984
9,525
,895
The average number ofemployees during the year was as follow5:
Total
No empwe received ￿K)lurnents in excess of £60,IY)O.
Employees are elNJible to join the Scottish Episcopal Church Pension Fund which is a non-
contributory defir)ed benefft scheme with benefits bas8d on final pensionable salary. During
Ihe year to 31¥t August 2024 the Redor was a member of the fund. Sl Mary's is unBble to
identify its share of the urbjetying assets and liabilities of the Fund on a consisknt and
reasOr￿b1e tsa￿s and so acc(KJrrts for its u)ntributions as rf the scheme was a defined
contribution scheme. The contribution rale for the year un(Jer rewew was 32.2Q/o, the rate is
based on the recommendations of the FurKJs Acauary following the periodic valuation of the
fund as at 31 December 2020 whith e￿iMated the fund to have a suwus al that date.
There were no contributions outstsTrJirvJ at 31 August 2024 in relatFon to St Mary's
eM￿oYees.
The actuarial valuatK)n undertaken at 31 C)ecemter 2020 and its results N*re reported to
the General SyrK)d in June 2021. A modest surtAus was rep)rted t￿￿ether vAh the
recommendation fr(Th the Standing Committee and the Pension Fund Trustees d￿1 some
of the surplus should be used to enable the c<>ntributK)n rats to continue at 32.2%. Ttis was
approved by General Synod
10. Grants
£1,048 Grant SUPFth was provthd duriNJ the year {2023- 1,424).
11. Tanglblo Flxed Assets
Herltable
Property
At I September 2023 and 31 August 2024
320 000
Net Book value
At 31 August 2024
320 000
At 31 August 2023
32
Heritable Property hekj by the charity is the Rectory at 3 Vlyvis Place. Broughty Fery Durndee
DD5 3SX.
The hentable propety (Recw) (ywned by St Mary's was valued on 20 July 2012, by
Shepherd Chartered Surveyor5. at an op8n market value.
15

ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY
NOTES TO THE FINANCIAL STATEMENTS {conllnued)
For the year ended 31￿ August 2024
12. Flxod A8801 Invo8lmonts
Unllsted
Investrnents
Market value
Al 1 September 2023
Purchased during the year
RevaluatK)ns
4T2.674
42.990
Al 31 August 2024
515,664
Book valu•
At 31 August 2024
231.470
At 31 August 2023
231,470
Sl Mary's investrnents are held in tt)e Scottish Ep¢scJ)pal Churd) unit trust PKY￿. The untt tr￿ po
was establish&J by the Investrnent C3)mmittee of the General syn￿ to tKing togetFw the
disparate investments of the varK)us tur￿$ of the General Syn(Ml, the Oioceses aThJ the inthvKlual
congregatsons of the Church to enab￿ these to be managed profeSs￿na}rY. The unit trust Pccfyl is
therefore wrety an investrnwrt vehKle of the Scottish EP￿0paI Church.
13. Flnandal Instruments
2024
2023
Carrylng amount ol flnanclal ass•ts
Debt instruments measured at arnortiS￿ ¢05t
45.085 69.338
Carylng amount of flrbanclal liabllities
Measured at amorti￿1 cx>st
4.503 24.990
14. Debtors: Amounts falling wlthin one yoar
2024 2023
Grfi aid recoverable
Other Debtors
1.514 1.514
345
326
1.859 1,840
15. Crodltors: Amounts fallSng due withln ono y
2024
2023
Taxation and so(ial seajrity
Other IxedrlLYS
4.503 24.990
4.503 24 990
16

ST MARY'S EPISCOPAL CHURCH. BROUGFrrY FERRY
NOTES TO THE FINANCIAL STATEMEKfs {continued)
For the year ended 31*1 August 2024
16. D•signatod Funds
The ino)me funds of the ctharity indude the folkming designated futKJs which have been set aside
oul of unrestrided furKls ty the Tnjstees spth rAJrrM)S8S".
Movement in funds
Transfers
& gains
Funds
Balance at 1
September In￿rnIng Reswrces
2023 Roswrces Expended
BalBnce at
31 August
2024
Fabric Fund
Rectory Fund
(8.069)
455
8,524
69
5,846
2.053
10.053
71.127
71.127
63.683
17. Analysis of Not Assots b•lweon Funds
Dwnated
Unrestncted Unrestricted Restricted
Funds
Funds
Funds
2024
2024
2024
Totsl
Funds
2024
Total
Funds
2023
Fixed Assets
Investments
Currenl Assets
Cuffent Liabilities
320,000
445,542
44.080
4.503
320,000 320,000
515.664 471674
45.085
69,338
24,990
876 246 837 022
70.122
1.005
71.127
18. Romuneration of key management personnel
2024
2023
Aggregate C(Mnpensation
43.984 37 895
17