Scollish Charity No.. SCOOI 750 SCOTTISH EPISCOPAL CHURCH DIOCESE OF BRECHIN ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY REPORT OF THE VESTRY & FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY Index to the Financial Statements Page Legal and Administrative Information Vestry Report Independent Examiners Report Statement of Financial Activities 2025 Statement of Financial Activities 2024 Balance Sheet Notes to the accounts 10-17
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY LEGAL AND ADMINISTRATIVE INFORMATION Charity Address 164 Queen Street Broughty Fery Dundee DD5 1AJ Scottish Charity number SC001750 Charlty trustees Members of the Vestry.. Rev Mark-Aaron Tisdale Mrs Fiona Walthall Mr Graeme Stirling Mrs Elaine Hammersley Mrs Jean McGuinness Mrs Susan Rowe Mr David Rowe Mrs Louise Speid Mr Alistair Speid Mrs Karen Willey Rector Vestry Secretary Treasurer Lay F£epresentative Vestry Secretary Lay Reader Property Conv8nor Vestry Member Vestry Member Vestry Member R8signed 09101125 Resigned 09103125 App 06103125 24111124-31108125 24111124-31108125 App 24111124 Treasurer Mrs Patricia Wells Co-opt 16111125 Independent Examlner BK Plus Limited 144 Nethergate Dundee DD14EB Bankers Bank of Scotland 327 Brook Street Broughly Fery Dundee DD5 2DS Solicitors Lindsays Seabraes Hous8 18 Greenmarket Dundee D014QB
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY REPORT OF THE VESTRY (TRUSTEES, REPORTI For the year ended 31" August 2025 The Fellowship is known as the Church of St Marls, Broughly Ferry and it is affiliated lo the Scottish Episcopal Church. The accounts have been prepared in accordance with the accounting policies set out in nole 110 the accounts and comply with the Fellowship's conslitulion. the Charities and Trustee Investment (Scollandl Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 'Accounting 2nd Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effeclive 1 January 2019)" Objectives and Activities The objectives of the Vestry ar6 to advance the mission of the Christian Faith through Worship, Acts of Service, and through deeply committed and welcoming Fellowship. These objectives are carried out through both missional and pasloral activities. Principal activities ol our church omrnunily are worship, Spiritual development and social engagements. Achievements and performance The Rector has been appointed as Assislant Director of Ordinands for the Central region, covering Brechin and Sl Andrews, Dunkeld & Dunblane. St. Mary's actively participates in the BroL]ghly Ferry Churches Group; this past year, the Rector has been in the Chair. St. Mary's continues to engage with the wider public through letlings, l.e. music concerts, Fiction Author and Book events, Scottish Blood Transfusion sessions, weekly rehearsals of the Dundee Symphony Orchestra, as well as the long-lemi Let ofthe Refectory by the Balgillo Nursery Too. St. Mary's holds the following regular and published worship services.. a Scottish Prayerbook-based Eucharist L0830hrsl', a 1982,. (revised 2022..1-based Eucharist111 Oohrsl., a Scottish Prayerbook-based Evensong Imonlhly @ 1700hrsl' & a Taize-style service12xJmo @ 1700hrsl. Community Outreach Revlew t The Rector continues as ATC Chaplain for 1232 (City of Dundee) Squadron., t The Rector became an MCR Pathways Mentor for 1hourlweek @ the Harris Academy. t The Rector remains another year on the Chaplaincy Team of the Grove Academy., t A Wee Communion servi @ Ballumbie Court Care Home continues tWiC8 monthly,. Our mid-week Eucharist is immediately followed by an extended lime of Fellowship, often with the Sl. Mary's Knit 'N Natter group- t The Knit 'N Naller Group donates ils efforts= Chrlstmas Angels freely distributed throughout Broughty Ferry., Easter Egg Cosies freely distributed throughout Broughty Ferry,. Hats for premature babies in Ninewells Hospital., Hals for Farmers t We continued with the national Warm Spaces Initiative between October24 and March 25 we remain open to the General Public on Wednesday's until 1600hrs', and t Members regularly contribute to the Dundee and Angus Food Bank through the church.
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY REPORT OF THE VESTRY (TRUSTEES, REPORT) {continued) For the year ended 31st August 2025 Financial Review The church incurred a deficit in the year of £19,932, with higher repairs and heat & light costs having an impacl. The surplus on the valuation of the investments of £51,759 has alleviated this, leaving an overall surplus for the year of £31 ,827. In the year under review, St. Mary's has been transitionin9 from one Treasurer to another. indeed, we have been actively searching for an admirable successor for some lime. The Sl. Mary's community thanks the outgoing Treasurer for his sgveral decades of faithful stewardship. The Vestry of Sl. Mary's has now Ir8nsitioned lo a SAGE packag8 for our bDokkeeping and are pleased lo announce Ihal we will welcome a new Treasurer at the Annual General Meeting, 30NOV25. The Vestry will work with the new Treasurer to present a Budget & accounts analysis later this year. One-off payments were Gollected for several missional events.. a Teddy Bear Parachute Drop raised over £700 to be split between the Scottish Fire and Rescue Family Support Trust and with AberlDur, the Scottish Children's Charity'and 8 High Tea for Mary's Meals. Investment Policy We continue to hold investments in th8 Scottish Episcopal Church Unit TrLJSt Pool (UTP). The investment objective of the UTP, which accords wlth that of the Vestry, is to earn a return on investment over the long-term, suffiGient at least to maintain the real value of the distribution to unit holders. The objective was certalnly achieved in the year under review structure, governance and management The Bishop of Brechin retains pastoral oversight of all diocesan Charges., said Charges are subject to the Canon Law of the Scottish Episcopal Church. Vestry members normally hold office for thre8 years and are elected al the Annual General Me81ing. The Vestry Secretary and the Vestry Treasurer are appointed by the Vestry. The Rector is appointed by the Vestry in conjunction with the diocesan bishop. The Cure ot Souls, and daily Management of the Charge, is assigned to the Rector- the Vestry authorise policy relating lo temporal affairs, whilst the Rector is r8sponsible for the Spiritu81 Affairs and well-being of the Char9e. All new Vestry members are lo be issued with the most recent version of our Constitution and an introduction to the role of a Charity Trustee from Office of the Scottish Charity Regulator IOSCRI. The Vestry constantly monitors and mitigates against risk through discussion and adopting appropriate procedures, seeking professional expertise as required whilst adhering to The Codes of the Canon Law of the Scottish Episcopal Church & relevant civil authorities.
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY REPORT OF THE VESTRY ITRUSTEES, REPORT) {conlinuedl For the year ended 31st August 2025 Risk Management The Vestry reviews on a regular basis the major risks lo which the Church 58 exposed, and systems or procedures have been eslablished to manage those risks. Reference and Administrative Details This information is shown on Page 1 of the Financial Statements. Plans for Future Periods This coming year, St. Mary's Vestry will work towards an effective and powerful Stewardship Campaign, which has been many years in the making, working towards a bslanTrd budget whilst continuing our good work in our church and the greater Broughly Ferry community. Carrying a balanced budgel is essential for good governance and a lop priority for us going fomard naturally, storms and unforeseen happenstances notwilhslanding.
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY REPORT OF THE VESTRY (TRUSTEES, REPORT) (continued) For the year ended 31sl August 2025 statement of Responsibilities of Members of the Vestry OSCR requires that Charily Trustees, such as our Vestry, send a ratified and inspected copy of our financial accounts annually, together with a Trustees, Annual Report and an online annual return., this paper is the Trustee's Annual Report. The Vestry Secretary regularly reviews our Vestry's details on the Scottish Charity Register, found at www.oscr.or We publish th8 fact that our Vestry is a Charity by regularly including OLJr Charity Registration number on our website, for instance. The Vestry Secretary also informs OSCR of any changes in officially held details. The Trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom AccotJnling Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the Trustees to prepare accounts for each . financial year which give a true and fair view of the state of affairs of the Fellowship and of the incoming resources and application of resources of the Fellowship for that year. In preparing these accounts, the Trustees are required to.. Select suitable accounting policies and then apply thom consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates that ar8 reasonable and prudent. Slate whelher applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts., and Prepare the accounts on the going concern basis unless il is inappropriale lo presume that the charity will continue in operalion. The TNstees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time the financial position of the Fellowship and enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotlandl Act 2005, the Charities Accounls (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Fellowship and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Conclusion The Vestry thanks all members of St. Mary's, Broughty Fery, who help in myriad ways and means., moreover, this author expresses additional deep and heartfelt gratitude to all Vestry members, past and present, for their sacrificial commitment to the Christian life and Witness of the St. Mary's faithful BY ORDER OF THE VESTRY Revd. Mark-Aaron B. i5dale Chair of the Vestry & Rector Dated 13, November, 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST. MARY'S EPISCOPAL CHURCH BROUGHTY FERRY I report on the financial statemenls of the Charity for the year ended 31st August 2025. Res ective res onsibililies of trustees and examiner The Charitls trustees are responsible for the preparation of Ihe financial statements in accordance with the terms of the Charities and Trustee Investment (Scalland) Acl 2005 and the Charities Accounts (Scotlandl Regulations 2006. The Charity trustees consider that the audit requirement of Regulation 10(1 }(a) to {cl of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(a){cl of the Act and to state whether particular matters have come to my attention. Basis of inde endent examiner's statement My examinalion is carried out in accordance with Regulation 11 of the Charities Accounts {Scotlandl Regulations 2006. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items of disclosures in the financial statements and seeks explanations from the Truslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit oplnlon on the view given by the financial statements. Inde endent ex8minels statement n the course of my examination, no matter has come to my attention. which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with Section 44{1) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare financial slalernenls which acrd with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statemenls to be reached. Alison Wilson, C.A., BK Plus Limited Chartered Accountants 144 Nethergate Dundee DD14EB Dated
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) For the year ended 31st August 2025 Unr8Strlcted Funds Fabric Fund Restrlcted Funds Total Funds Total Funds Notes Ordinary Fund Rectory Fund 2025 2025 2025 2025 2025 2024 Income from: Donations and Lega¢ies Charitable activities Investm8nts 21,955 38,877 15,881 31,955 38,877 18,217 36,936 41,601 15.099 2,336 Total Income 86,713 2,336 89,049 93,636 Exp&ndlture on: Charitable aclivilies 106,645 2,336 108,981 97,402 Total Expenditure 106,645 2.336 Y08,981 97,402 Nel Incomel(expenditurel 119,9321 119,932} 13,7661 Transfers between funds Other recognised gainslllossesl.. Gainsl{losses on revalualion of investment asselsl 44.721 7,038 51,759 42,990 Nél Movement in funds Reconciliation of Funds,. 24,789 7,038 31,827 39,224 Tot81 Funds al 1, September 2024 805,119 71,127 876,246 837,022 Total Funds at 31$1 August 2025 829,908 78,165 908,073 876,246
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI For the year ended 31st August 2024 Unrostrfcted Funds Fabric Fund Rèstricted Funds Total Funds Total Funds Notes Ordinary Fund Rectory Fund 2024 2024 2024 2024 2024 2023 Income from.. Donations 2nd Legacies Charitable activities Investments 28,936 8.000 36,936 76,768 35,115 13,971 41,601 13,046 41,601 15,099 2.053 Total Income 83,583 2,053 93,636 125,854 Expenditure on: Charitsble activi118S 88,878 8.069 455 97,402 121,991 Total Expenditure 88,878 8,069 455 97.402 121,991 Nel Incomellexpenditure) {5,2951 (69) 1,598 13,7661 3,863 Transfers between funds {691 69 Other recognised gainslllossesl.. Gainsl(losses on revaluation of investment assets) 37,144 5,846 42,990 7.393 Nel Movement in funds Reconciliation of Funds.. 31,780 7.444 39.224 11,256 Total Funds al 151 Seplamb8r 2023 773.339 63,683 837,022 825,766 Total Funds at 31. August 2024 805,119 71.127 876,246 837.022
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY BALANCE SHEET As at 31st August 2025 2025 2024 Notes Flxed Assets Tangible Assets Investments 320,000 567 423 887,423 320.000 515664 835,664 12 Current Assets Debtors Cash at bank and in hand 14 1,514 36,124 37,638 1,859 43,226 45,085 Llabilities Creditors,. amounts falling due within one year 15 {16,9881 (4,503) Net Current Assets 20.650 40,582 Total Nel Assets 908,073 876,246 The Funds of the Charity.. Unrestricted Funds: Ordinary Fund Fabric Fund Rectory Fund 16 829.908 8Q5,119 78,165 71,127 908 073 876,246 The notes on pages 10 to 17 form part of these accounts. Approved by the trustees on 131h November, 2025 and sign8d on behalf oflhe Vestry Revd. Mark-Aaron B. Tisdale
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS st For the year ended 31 August 2025 Accounting Policies Accountlng Basis The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Gharilies" preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS1021, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scollandl Regulations 2006 las amended). The accounts have been prepared under the historical cost convention with items recognised al cost or transaction value unless otherwis8 stated in the relevant notelsl to these accounts. Going Concern At the time of approving the accounls, the Trustees have a reasonable expeclatlon that the F811owship has adequate resources to continue in operational existence for the foreseeable ftJture. Thus the Trustees continue to adopt the going conoern basis of accounting in preparing the accounts. Charitable funds Funds generated or drawn on via the Income and Expenditure Account are classified as either unrestricted funds or designated funds or restricted funds, defined as follows.. Unrestricted lunds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. Designated funds are also unrestricted but have been ringfenced by the trustees to meet a particular purpose. Reslricted funds are subject to specific conditions which may be declared by the donor. Incoming Resources Income is recognised when the Fellowship is legally entitled to it after any performance conditions have been mel, the arnounls can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Olher donations are recognised once the Fellowship has been notified of the donation, unless performance conditions r8quire deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise if the Fellowship has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. -10-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS {continuedl For th6 year ended 315t August 2025 Accounting Policies continued Resources Expended Resources expended are included on an accruals basis and allocated to the appropriate fund as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which il relates.. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its benefioiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Tangible fixed assets and depreciation Tangible fixed assets are slated at cosl less depreciation. Depreciation is provided al rates calculated to write off the cost less estimated residual value of each asset over its expected useful Sife, as follows: Land and buildings - No depreciation The gain or loss arising on the disposal of an asset is deterrnined as the difference between the sale prOed$ and the catrying value of the asset and is recognised in net incomel (expenditure) for the year. Impairment of fixed assets Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounled to their present value using a pre- tax discount rale that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amaunt of the asset is reduced to ils recoverable amount. An impairment loss is rewgnised immediately in incomel lexpendilurel for the year, unless the relevant asset is carried al a revalued amount, in which case the imp8irmenl loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only rf, the reasons for the impairment loss have ceased to apply. Where an imp81rment loss subsequently reverses, the carrying amount of the asset is increased lo the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the c(Irrying amount that would have been detemiined had no impairment loss been recognised for Ihe asset in prtor 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 impairment loss is treated as a revaluation increase. -11-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31st August 2025 Accounting Policies continued Financial instrkjments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Inslrumenls Issues, of FRS 102 to all ils financial instruments. Financial instruments are recognised wh8n the Charity becomes party to the contractual provisions of the instrument. Financial assets are offs81, with the net amoLtnls presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabilily simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised Cost using the effective inleresl method unless the arrangement conslilutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as reGeivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is m8asured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are nol amortised. Debt instrumenls are subsequently carried at amortised cost, using the effectiv& int8resl rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wlthin one year or less. Sf not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently easured al amortised cost using the effective interest method. Employee b8nefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employge's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or lo provide terrninalion benefits. -12-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31sI August 2025 1.10 Retirement benefits Payments lo defined contribution reliremenl benefit schemes are charged as an expense as they fall due. Critlcal accounting estimates and judgements In the application of th8 Charily'5 a¢¢ounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from olher sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevanl. Actual results may differ from these estimates. The eslimales and undartying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods whore the revision affects both current and future periods. Unresliicled Funds Fabric Rectory Fund Fund Restricted Funds Total 2025 Total 2024 General Fund 3. Donations and Legacies Congregational giving Donations and gifts Legacies receivable Grant receivable 21,853 9,910 200 192 31,955 21,653 9,910 200 192 31,955 21,236 9,652 5,000 1,048 36,936 The donations include £8,000 from Wm Thomson which have been used in support ofthe fabric Costs of the year. 4. Income from Charitable Activities Rent and Hall lets Concert5 Fundraising Special Collections other Income 35,632 1,237 763 35,632 1,237 763 37,390 300 509 1,414 1,988 41,601 1,245 38.877 1,245 38,877 5. Investment Income Unit Trust Paol distributions Solar income 14,845 1,036 15,881 2,336 17,181 1,036 18,217 15,099 2,336 15.099 -13-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 315t August 2025 6. Resources expended on Charitable Activlties Ggneral Fabric Fund Fund Rectory Restricted Fund Fund Total 2025 Total 2024 Clergy costs Church property costs Rectory property costs Worship costs Quota Admin costs Missiori support Governance Costs 43,368 40,382 5,906 317 10,375 4,016 361 1,920 106,845 43,368 43.984 40,382 30,323 8,242 4,916 317 1,092 10,375 10,438 4,016 3,877 361 1,932 1,920 840 108,981 97,402 2,336 2,336 7. Related Party Transactions A Quota is paid by St Mary's to the Diocese of Brechin lo support the work of the Diocese and of the Scottish Episcopal Church as a whole and amounted to £10,375 (2024- £10,438). 8. Truslees, Remuneration and Beneflts The Rector reIVeS remuneration, benefits and reimbursemenl of expenses in respect of services provided as stipendiary clerics in line with scales determined by the General Synod of the Scottish Episcopal Church. During the year the Rev. Mark-Aaron Tlsdale, in his capacity as Rector, received renumeration of £33,86812024 - £32,192), Pension contributions £8,573 (2024 - £10,366) and was paid expenses of £1,141 (2024 - 1,426) for mileage, telephone and broadband etc. Trustees, Expenses During the year no trustees received expenses other than the rector. {2024 - £0). -14-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31st August 2025 9. Staff Costs 2025 2024 Wages and Salaries So¢ial Security Costs Pension Contributions Locum & travel costs 33,868 32,192 8,573 927 43.368 10,366 1,426 43,984 The average numberofemployees during the yearwas as follows= Total No employee received emoluments in excess of £60,QOO. Employees are 81igib18 to join the Scollish Episcopal Church Pension Fund which is a non- contributory defined benefit scheme with benefits based on final pensionable salary. During the year lo 31¥1 August 2025 the Rector was a member of the fund. Sl Mary's is unable to identify ils share of the undedying assets and liabilities of the Fund on a consistent and reasonable basis and so accounts for its contributions as if the scheme was a deflned contribution sch@me. The contribution rate for was initially 32.2Q/o and reduced lo 22,10 on 1. January, 2025. The rale is based on the recommendations of the Funds Actuary following the periodic valuation of the fund as 8t 31 December 2023 when a modest surplus was reported. There were no contributions outstanding at 31 August 2025 in relation to Sl Mary's employees. 10. Grants No grant support was provided during the y8ar {2024- £1,048). 11. Tangible Fixed Assets Herltable Property Cost At 1 September 2024 and 31 August 2025 320 000 Net Book value At 31 August 2025 320,000 At 31 August 2024 320 000 Heritable Property held by the charity is the Rectory at 3 Wyvis Place, Broughty Ferry Dundee DD5 3SX. The heritable property {Rectory) owned by St Mary's was valued on 20 July 2012. by Shepherd Chartered SuNeyors, al an apen market value. -15-
ST MARY'S EPISCOPAL CHURCH. BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS {continued) For the year ended 31st August 2025 12. Fixed Asset Inveslments Unlisted Investments Market value At 1 Septernber 2024 Purchased during the year Revaluations 515,664 51,759 At 31 August 2025 567,423 Book value At 31 August 2025 231470 Al 31 August 2024 231,470 St Mary's investments are held in the Scottish Episcopal ChLFrch unit trust pool. The unit trust pool was established by the Investment committee of the General Synod lo bring together the disparate investments of the various funds of the General Synod, Ihe Dioceses and the individual congregations of the Church lo enable these to be managed professionally. The unit trust pool is therefore purely'an investment vehicle of Ihe Scottish Episcopal Church. 13. Financial Instruments 2025 2024 Carrying amount of financial assets Debt instruments measured at amortised cost 37 638 45,085 Carrying amount of financial liabilitie5 Measured al amortised cost 16,988 4,503 14. Debtors.. Amounts falling within one year 2025 2024 Gift aid recoverable other Debtors 1,514 1,514 345 1,514 1,859 15. Creditors: Amounts falllng due within one year 2025 2024 Taxation and social security Other creditors 16,988 4,503 16,988 4,503 -16-
ST MARY'S EPISCOPAL CHURCH, BROUGHTY FERRY NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31st August 2025 16. Designated Funds The income funds of the charity include the following designated funds which have b8en set aside out of unrestricted funds by the Trustees for specific purposes- Movement in funds Transfers & gains Funds Balance al 1 September Incoming Resources 2024 Resources Expended Balance al 31 August 2025 Fabric Fund Rectory Fund 71,127 71,127 2,336 10,336 2,336 10,336 7,038 7,038 78,165 17. Analysis of Net Assets between Funds Designated Unrestricted Unreslricled Restricled Funds Funds Funds 2025 2025 2025 Total Funds 2025 Total Funds 2024 Fixed Assets Investments Current Assets Gurrent Liabilities 320,000 490,263 36,633 16,988 829,908 320,000 320,000 567,423 515,664 37,638 45,085 16,988 4,503 908 073 876 246 77,160 1,005 78,165 18. Remuneration of key management personnel 2025 2024 Aggregate Compensation (including employer pension) 42,441 42,558 -17-