**Charity number: SC001810**
**RC DIOCESE OF DUNKELD TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **RC DIOCESE OF DUNKELD**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustee and advisers**|1|
|**Trustee's report**|2 - 6|
|**Independent auditors' report on the financial statements**|7 - 10|
|**Consolidated statement of financial activities**|11|
|**Charity statement of financial activities**|12|
|**Consolidated balance sheet**|13|
|**Charity balance sheet**|14|
|**Consolidated statement of cash flows**|15|
|**Charity statement of cash flows**|16|
|**Notes to the financial statements**|17 - 43|
## **RC DIOCESE OF DUNKELD**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
**Corporate Trustee** Diocese of Dunkeld (Nominees) Ltd **Charity registered number** SC001810 **Principal office** 24 - 28 Lawside Road Dundee DD3 6XY **Directors of the Corporate Trustee Chancellor Independent auditors** Sumer Auditco Limited Chartered Accountants 14 City Quay Dundee DD1 3JA **Bankers** Royal Bank of Scotland 3 High Street Dundee DD1 9LY **Solicitors** Lindsays Seabraes House Greenmarket Dundee DD1 4QB **Investment Managers** Quilter Cheviot Saltire Court 20 Castle Terrace Edinburgh EH1 2EN
Page 1
## **RC DIOCESE OF DUNKELD**
## **TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The corporate trustee presents its annual report together with the audited financial statements of the Charity for the year 1 January 2024 to 31 December 2024.
## **Objectives and activities**
## **a. Policies and objectives**
The principal objectives of the charity as defined in the Deed of Trust are as follows:
- (1) The advancement of the Roman Catholic Religion;
- (2) The advancement of education;
- (3) The relief of poverty; and
- (4) The cure or alleviation of sickness or disease.
## **Achievements and performance**
## **a. Key performance indicators**
Gift Aid Income Congregation increase Care home occupancy levels
## **b. Review of activities**
The Principal Trustee is responsible for the contents of the Financial Statements, which are prepared from the records maintained by the Diocese.
These Financial Statements are presented in accordance with the legislation governing reporting by charities. The Diocese is recognised as a Designated Religious Charity by the Office of the Scottish Charities Regulator.
In May, Pope Francis appointed , from the Archdiocese of Glasgow as the 10th Bishop of Dunkeld, following the death of Bishop-Elect Martin Chambers in April. was ordained as Bishop at St Andrew’s Cathedral, Dundee on 10th August 2024.
During his first months as Bishop, tasked himself to visit the parishes of the Diocese to meet with both the priests and the people he has been chosen to lead.
In addition to this great change to the Diocese, parishes continue to recover after the restrictions and effects of the Covid 19 pandemic. Continued growth in Mass attendance and activities saw parish life return to something similar to that before the lockdowns.
Diocesan celebrations such as the Civic and Academic Mass returned to St Andrew’s Cathedral with meeting many of the guests for the first time. This Mass was celebrated with the addition of the Diocesan Choir. Other celebrations included the Day for Religious Life and the Mass of Chrism. The Mass of Chrism takes place in Holy Week in the lead up to Easter and was celebrated by
Parish life continued to grow with the reintroduction of ministries such as choirs, faith sharing groups, adult education sessions, prayer cells, parish pastoral councils and youth activities.
The Journey of faith (RCIA) process was again run in St Mary’s, Forebank, which serves as the Pastoral Centre for the Diocese, a programme which prepares and accompanies adults who would be baptised and joined to the Church at Easter, and also enables others who are already fully initiated in to the Church to share their faith and grow in knowledge of it. This RCIA programme was also delivered at other parishes throughout the Diocese.
Page 2
## **RC DIOCESE OF DUNKELD**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achievements and performance (continued)**
Also, within the Diocese, the parishioners of The Immaculate Conception, St Mary’s Lochee, continued the process of fundraising for the restoration and upgrade of their church and hall facilities. This church is the only Grade A listed building in the Diocese.
In addition, St Joseph's in Dundee celebrated its 150th Anniversary in January and St Bride's in Monifieth celebrated 40 years in February.
Other events included a Diocesan Mission Day by , Vicar Episcopal for Missions and Justice and Peace, a ‘A Spiritual Experience of Synodality’ organised by the Diocesan Synodal Team, a Lenten Retreat led by , and an Advent Retreat Day led by .
The Diocese annual pilgrimage to Lourdes was held in July with pilgrims and volunteer helpers from around the Diocese travelling to France.
## **c. Investment policy and performance**
The Diocese continues to take a long term view on investment policy. Historically, over the longer term, equity markets have tended to outperform other asset classes.
In accordance with the Deed of Trust, the Trustee has the power to invest in such stocks, shares, investments and property in the UK as they see fit and within the confines of the Catholic National and Diocesan Ethical Policy. A specialist investment management firm provides the Trustee with a discretionary investment management service.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the corporate trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The total reserves of the parent charity at the end of 2024 amount to £14,392,048 (2023 - £14,072,296) consisting of £7,990,843 (2023 - £7,904,778) unrestricted funds, £5,134,592 (2023 - £4,985,738) of parochial funds and £1,266,613 (2023 - £1,181,780) of curial restricted funds.
Unrestricted funds are £7,990,843 (2023 - £7,904,778) however after deducting fixed assets, investment properties and designated funds the balance is a net deficit of £899,774 (2023 - deficit of £934,702). It is the Trustees' policy to increase Free Reserves in order to offer support to the parishes and administration of the Diocese. The intention of the Trustees is to build up unrestricted reserves to an equivalent of 6 months of Curial expenditure on unrestricted funds, approximately £400,000.
Noting the free reserves do not meet the intention of the Trustee above and with little scope to achieve a surplus on ordinary income, the Trustee is aware of the need to address this situation in the short term and initiated a full review of all Diocesan assets and liabilities.
The Directors of the Corporate Trustee continue to consider the outcome of the review of the Diocesan assets and liabilities and will determine whether the reserves policy requires amendment.
Page 3
## **RC DIOCESE OF DUNKELD**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Structure, governance and management**
## **a. Constitution**
The Diocese was established by the Apostolic Letter Ex Supremo of Pope Leo XIII dated 4 March 1878, being the date of the restoration of the Roman Catholic Hierarchy, which had been extinct since 1603.
The Diocese is legally constituted as a Charitable Trust and is governed by the relevant Bond and Deed of Declaration of Trust (Deed of Trust) which is registered in the Public Records of Scotland. The Diocese is recognised by HM Revenue & Customs (Ref. CR. 33859) as having Charitable Status and by the Office of Scottish Charities Regulator (OSCR) (Ref. SC 001810) as a Designated Religious Charity.
## **b. Methods of appointment or election of trustee**
During the year, the sole Trustee of the Trust was the Diocese of Dunkeld (Nominees) Limited. The directors of said company are elected and co-opted under the terms of the Deed of Trust.
Newly appointed directors are made aware of their legal responsibilities and liabilities as laid down by OSCR. This task is carried out by the incumbent Bishop.
Details of the directors of the Diocese of Dunkeld (Nominees) Limited are listed at the top of this report.
## **c. Pay policy for senior staff**
No director of the corporate trustee is remunerated for their role as director and only expenses will be reimbursed to a director. Annually, all staff salaries are reviewed by the Bishop and his Chancellor.
Staff remuneration is set to achieve a balance between fair pay to attract and keep appropriately qualified staff to lead, manage and support or deliver the charity's aims, and considerations of the beneficiaries' needs.
No member of the senior management team receives a salary of over £60,000.
## **d. Organisational structure and decision making**
The organisation structure of the Diocese is headed by the Bishop of Dunkeld in accordance with the law of the Church (Code of Canon Law).
The administrative and pastoral structures of the Diocese are described in the Code of Canon Law (CIC 1983) and are detailed in the current issue of the Catholic Directory for Scotland.
The Diocese has established a Diocesan finance committee, consisting of the Trustee and a number of lay members who have financial governance experience. The role of this committee is to assist the Bishop of Dunkeld, or his delegate, to manage the financial affairs of the Diocese, as a whole, in order to comply with the Code of Canon Law (CIC 1983, can.492/493) as well as comply with current statutory requirements that are relevant to its charity status.
The Diocese is comprised of 34 parishes located in various cities, towns and villages throughout its boundaries. A Parish Priest, who is appointed by, and is accountable to, the Bishop, administers a single parish or multiple parishes or Mass Centres. Parishes are grouped into Deaneries on a geographical basis. The Bishop appoints (after nomination by the deanery priests) one of the Parish Priests in each Deanery as "Dean" and they meet at regular intervals to discuss matters pertinent to their Deanery. The Code of Canon Law (CIC 1983, can.492) requires each parish to establish a finance committee to assist the Parish Priest in the administration of the goods of the parish.
Page 4
## **RC DIOCESE OF DUNKELD**
**TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Structure, governance and management (continued)**
## **e. Risk management**
The corporate trustee, with the assistance of the Diocesan Finance Committee, have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **Plans for future periods**
## **a. FUTURE DEVELOPMENTS AND ONGOING PROJECTS**
Future projects will involve reviews of all our evangelising activities and a thorough revision of our pastoral resources. A Strategy Group will facilitate ongoing directions for these renewal intentions under the guidance of the Bishop of Dunkeld.
## **St Mary's Care Home for the Elderly**
Dunkeld Care Ltd (Charity Number SC047641, registered company number SC572109) continues to provide care for 28 residents. The intention remains to refurbish the remaining non ensuite rooms. The diocese retains control over Dunkeld Care Ltd and consolidates its results in these accounts.
## **DIOCESAN DEVELOPMENTS**
## **Former St Joseph's Home, Liff Road**
The Liff Road property remains within the assets of the Diocese and the engagement of a property expert continues whilst opportunities are still being explored to maximise the potential use of the site.
## **Diocese of Dunkeld Youth Association**
The Dunkeld Youth Association is led by , Vicar Episcopal for Youth. Along with a team of willing and motivated volunteers, the DYA aims to build a strong, vibrant and faith-filled youth community that actively contributes to the spiritual, social and personal growth of young Catholics in the Diocese of Dunkeld
## **RESTORATION**
The Parish of the Immaculate Conception, St Mary's, Parish, Lochee, will continue to fundraise the ongoing restoration work of this Hansom church, built in 1866, a Grade A Listed building, to return it to its former glory and to allow it also to become a visitor attraction within the city as well as continue to be a historic place of worship for the foreseeable future.
The Diocese hopes to instigate a number of other building and restoration projects which will be undertaken when resources allow.
## **Dundee Pregnancy and Parenthood Support Service**
The group continue to operate their service providing support to those in need.
## **CONNECTED CHARITIES**
The Diocese is a member of the following bodies, which are connected to, or supported by, the Diocese:
The Bishops' Conference of Scotland; The Catholic National Endowment Trust Nos. 1 and 4; John Menzies of Pitfodels Trust for Scotus College and Catholic Education; The Scottish Catholic International Aid Fund; and The Catholic National Mutual Ltd
Page 5
## **RC DIOCESE OF DUNKELD**
## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Plans for future periods (continued)**
## **Statement of trustee's responsibilities**
The corporate trustee is responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the corporate trustee to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the corporate trustee is required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The corporate trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are directors of the corporate trustee at the time when this Trustee's report is approved has confirmed that:
- so far as that director is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
- that director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Approved by order of the members of the board of the corporate trustee on 30 September 2025 and signed on their behalf by:
for and on behalf of Diocese of Dunkeld (Nominees) Limited
Page 6
## **RC DIOCESE OF DUNKELD**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RC DIOCESE OF DUNKELD**
## **Opinion**
We have audited the financial statements of RC Diocese of Dunkeld (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Financial Activities, the parent charity Statement of Financial Activities, the Consolidated Balance Sheet, the parent charity Balance Sheet, the Consolidated Statement of Cash Flows and the parent charity Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group's and of the parent charity's affairs as at 31 December 2024 and of the group's and parent charity's incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Page 7
## **RC DIOCESE OF DUNKELD**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RC DIOCESE OF DUNKELD (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The trustee are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
- the information given in the Trustee's report is inconsistent in any material respect with the financial statements; or
- proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustee's responsibilities statement, the trustee is responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Group's and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so.
Page 8
## **RC DIOCESE OF DUNKELD**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RC DIOCESE OF DUNKELD (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities and Trustee Investment (Scotland) Act 2005 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 9
## **RC DIOCESE OF DUNKELD**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RC DIOCESE OF DUNKELD (CONTINUED)**
## **Use of our report**
This report is made solely to the Corporate Trustee in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's corporate trustee those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its Trustee for our audit work, for this report, or for the opinions we have formed.
[ SumSign98E01EC2FD13436... **e** d by:r luditeo limited **Sumer Auditco Limited** Chartered Accountants Statutory Auditors 14 City Quay Dundee DD1 3JA
30 September 2025
Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 10
## **RC DIOCESE OF DUNKELD**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Income from:**
Donations and
legacies
3
Charitable activities
4
Investments
5
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
6
**Total expenditure**
**Net**
**income/(expenditur**
**e) before net gains**
**on investments**
Net gains on
investments
**Net**
**income/(expenditur**
**e)**
Transfers between
funds
18
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
Net movement in
funds
**Total funds carried**
**forward**|**Parochial**
**funds**
**2024**
**£**
**2,006,737**
**148,214**
**137,672**
**2,017**
**2,294,640**
**31,237**
**1,862,947**
**1,894,184**
**400,456**
**151,393**
**551,849**
**(402,995)**
**148,854**
**4,985,738**
**148,854**
**5,134,592**|**Restricted**
**funds**
**2024**
**£**
**12,275**
**66,865**
**21,777**
**-**
**100,917**
**4,707**
**78,065**
**82,772**
**18,145**
**67,349**
**85,494**
**-**
**85,494**
**1,205,518**
**85,494**
**1,291,012**|**Unrestricted**
**funds**
**2024**
**£**
**102,809**
**1,407,128**
**176,416**
**46,403**
**1,732,756**
**19,770**
**2,262,148**
**2,281,918**
**(549,162)**
**318,648**
**(230,514)**
**402,995**
**172,481**
**8,615,010**
**172,481**
**8,787,491**|**Total**
**funds**
**2024**
**£**
**2,121,821**
**1,622,207**
**335,865**
**48,420**
**4,128,313**
**55,714**
**4,203,160**
**4,258,874**
**(130,561)**
**537,390**
**406,829**
**-**
**406,829**
**14,806,266**
**406,829**
**15,213,095**|_Total_
_funds_
_2023_
_£_
_2,109,438_
_1,489,962_
_256,543_
_34,482_|
|---|---|---|---|---|---|
||||||_3,890,425_|
||||||_52,062_
_3,837,065_|
||||||_3,889,127_|
||||||_1,298_
_470,809_|
||||||_472,107_
_-_|
||||||_472,107_|
||||||_14,334,159_
_472,107_|
||||||_14,806,266_|
Page 11
**RC DIOCESE OF DUNKELD**
## **CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Income from :**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
7
**Total expenditure**
**Net income/(expenditure) before net**
**gains on investments**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
18
**Net movement in funds**
**Reconciliation of Funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Parochial**
**funds**
**2024**
**£**
**2,006,737**
**148,214**
**137,672**
**2,017**
**2,294,640**
**31,237**
**1,862,947**
**1,894,184**
**400,456**
**151,393**
**551,849**
**(402,995)**
**148,854**
**4,985,738**
**148,854**|**Restricted Unrestricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**178**
**147,039**
**66,865**
**123,011**
**21,777**
**164,868**
**-**
**65,903**
**88,820**
**500,821**
**4,707**
**19,770**
**66,629**
**1,095,648**
**71,336**
**1,115,418**
**17,484**
**(614,597)**
**67,349**
**297,667**
**84,833**
**(316,930)**
**-**
**402,995**
**84,833**
**86,065**
**1,181,780 7,904,778**
**84,833**
**86,065**
**1,266,613**
**7,990,843**|**Total**
**funds**
**2024**
**£**
**2,153,954**
**338,090**
**324,317**
**67,920**
**2,884,281**
**55,714**
**3,025,224**
**3,080,938**
**(196,657)**
**516,409**
**319,752**
**-**
**319,752**
**14,072,296**
**319,752**
**14,392,048**||_Total_
_funds_
_2023_
_£_
_2,217,422_
_283,095_
_248,350_
_52,482_|
|---|---|---|---|---|---|
||||||_2,801,349_|
||||||_52,062_
_2,814,836_|
||||||_2,866,898_|
||||||_(65,549)_
_449,837_|
||||||_384,288_
_-_|
||||||_384,288_|
||||||_13,688,008_
_384,288_
_14,072,296_|
||**5,134,592**|||||
Page 12
## **RC DIOCESE OF DUNKELD**
## **CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Fixed assets**
Tangible assets
11
Investments
12
Investment property
13
**Current assets**
Debtors
14
Investments
15
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
17
**Total net assets**
**Charity funds**
Parochial funds
18
Restricted funds
18
Unrestricted funds
18
**Total funds**|**583,732**
**844,176**
**2,109,301**
**3,537,209**
**(511,426)**|**2024**
**£**
**5,034,849**
**4,493,497**
**3,186,254**
**12,714,600**
**3,025,783**
**15,740,383**
**(527,288)**
**15,213,095**
**5,134,592**
**1,291,012**
**8,787,491**
**15,213,095**|_487,109_
_773,215_
_2,385,692_
_3,646,016_
_(416,236)_|_2023_
_£_
_4,900,387_
_4,224,914_
_2,961,254_
_12,086,555_
_3,229,780_
_15,316,335_
_(510,069)_
_14,806,266_
_4,985,738_
_1,205,518_
_8,615,010_
_14,806,266_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the trustee on 30 September 2025 and signed on their behalf by:
The notes on pages 17 to 43 form part of these financial statements.
Page 13
## **RC DIOCESE OF DUNKELD**
## **CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Fixed assets**
Tangible assets
11
Investments
12
Investment property
13
**Current assets**
Debtors
14
Investments
15
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
17
**Total net assets**
**Charity funds**
Parochial funds
18
Restricted funds
18
Unrestricted funds
18
**Total funds**|**409,100**
**844,176**
**1,842,063**
**3,095,339**
**(419,911)**|**2024**
**£**
**4,981,889**
**4,075,765**
**3,186,254**
**12,243,908**
**2,675,428**
**14,919,336**
**(527,288)**
**14,392,048**
**5,134,592**
**1,266,613**
**7,990,843**
**14,392,048**|_336,830_
_773,215_
_2,143,773_
_3,253,818_
_(364,727)_|_2023_
_£_
_4,847,243_
_3,884,777_
_2,961,254_
_11,693,274_
_2,889,091_
_14,582,365_
_(510,069)_
_14,072,296_
_4,985,738_
_1,181,780_
_7,904,778_
_14,072,296_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the trustee on 30 September 2025 and signed on their behalf by:
The notes on pages 17 to 43 form part of these financial statements.
Page 14
## **RC DIOCESE OF DUNKELD**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Cash flows from operating activities**
Net cash used in operating activities
21
**Cash flows from investing activities**
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Net cash used in investing activities**
**Cash flows from financing activities**
Advances/(repayments) of hire purchase
**Net cash provided by/(used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
22
The notes on pages 17 to 43 form part of these financial statements|**2024**
**£**
**122,133**
**(375,483)**
**842,568**
**(885,906)**
**(418,821)**
**20,297**
**20,297**
**(276,391)**
**2,385,692**
**2,109,301**|_2023_
_£_
_853,125_
_(222,004)_
_998,040_
_(2,451,037)_
**(1,675,001)**
_(4,990)_
**(4,990)**
**(826,866)**
_3,212,558_
_2,385,692_|
|---|---|---|
Page 15
## **RC DIOCESE OF DUNKELD**
## **CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Cash flows from operating activities**
Net cash used in operating activities
21
**Cash flows from investing activities**
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Net cash used in investing activities**
**Cash flows from financing activities**
Advances/(repayments) of hire purchase
**Net cash provided by/(used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
22
The notes on pages 17 to 43 form part of these financial statements|**2024**
**£**
**(2,276)**
**(364,927)**
**817,763**
**(772,567)**
**(319,731)**
**20,297**
**20,297**
**(301,710)**
**2,143,773**
**1,842,063**|_2023_
_£_
_778,949_
_(214,005)_
_908,974_
_(2,274,312)_
**(1,579,343)**
_(4,990)_
**(4,990)**
**(805,384)**
_2,949,157_
_2,143,773_|
|---|---|---|
Page 16
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
The Roman Catholic Diocese of Dunkeld is a charity registered in Scotland (SC001810), established by a trust deed dated 5 March 1878. The charity governs the Catholic Church in the counties of Perth, Angus, Clackmannan, Kinross and the northern part of Fife and includes the parishes and churches in that area.
The registered office, from where the curia carries out its operations, is 24 - 28 Lawside Road, Dundee, DD3 6XY.
The accounts are presented in pounds sterling, which is the functional currency of the charity, rounded to the nearest pound.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
RC Diocese of Dunkeld meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Diocese has control over the subsidiary since the articles of association of the subsidiary allow the trustees of the Diocese, as a body, to appoint all directors of the subsidiary and do not preclude the Diocese receiving benefit from the subsidiary's activities.
## **2.2 Going concern**
The accounts have been prepared on a going concern basis as no material uncertainties have been identified.
Page 17
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustee in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Parochial funds are restricted by Canon Law, which governs the diocese, for use in the parish to which they belong and comprise the assets, liabilities, income and expenditure of the individual parishes. These have been incorporated within the financial statements of the parent charity. Canon Law permits the Bishop to impose a levy on the parishes, which is shown as a transfer between the parochial and unrestricted funds.
Investment income, gains and losses are allocated to the appropriate fund.
## **2.4 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the testator) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 18
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.6 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities upon the completion of the relevant performancerelated conditions. Other grants that are not subject to performance-related conditions are credited to the Consolidated statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives.
A number of historic church buildings are included at no cost. The buildings included in this category are older buildings for which historic cost information is not available.
Heritage assets are not capitalised. These are assets which are utilised for worship by the Diocese. As items used for worship, the economic value to the Diocese is low.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is provided on the following basis:
|Freehold property|-|2% straight line|
|---|---|---|
|Motor vehicles|-|25% reducing balance|
|Fixtures and fittings|-|15% reducing balance|
|Computer equipment|-|25% reducing balance|
Page 19
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.9 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.10 Finance leases and hire purchase**
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.13 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.
Page 20
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.14 Pensions**
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
Page 21
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **3. Income from donations and legacies**
Group
|Donations
Legacies
Grants
Government grants
Similar incoming resources
Donations
Legacies
Grants
Government grants
Similar incoming resources|**Parochial**
**funds**
**2024**
**£**
1,947,679
24,502
34,556
-
-
2,006,737
_Parochial_
_funds_
_2023_
_£_
_1,832,565_
_71,231_
_105,772_
_-_
_-_
_2,009,568_|**Curial**
**restricted**
**funds**
**2024**
**£**
7,144
178
-
4,953
-
12,275
_Curial_
_restricted_
_funds_
_2023_
_£_
_4,486_
_35,000_
_-_
_4,500_
_-_
_43,986_|**Unrestricted**
**funds**
**2024**
**£**
40,076
62,011
195
-
527
102,809
_Unrestricted_
_funds_
_2023_
_£_
_39,508_
_11,638_
_1,103_
_-_
_3,635_
_55,884_|**Total**
**funds**
**2024**
**£**
**1,994,899**
**86,691**
**34,751**
**4,953**
**527**|
|---|---|---|---|---|
|||||**2,121,821**|
|||||_Total_
_funds_
_2023_
_£_
_1,876,559_
_117,869_
_106,875_
_4,500_
_3,635_|
|||||_2,109,438_|
Page 22
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Income from donations and legacies (continued)**
|Parent
Charity donations
Charity legacies
Charity grants
**Total 2024**|**Parochial**
**funds**
**2024**
**£**
1,947,679
24,502
34,556
2,006,737|**Restricted**
**funds**
**2024**
**£**
-
178
-
178|**Unrestricted**
**funds**
**2024**
**£**
**Total**
**funds**
**2024**
**£**
135,076
**2,082,755**
11,768
**36,448**
195
**34,751**|
|---|---|---|---|
||||147,039
**2,153,954**|
|Charity donations
Charity legacies
Charity grants
_Total 2023_|_Parochial_
_funds_
_2023_
_£_
_1,832,565_
_71,231_
_105,772_
_2,009,568_|_Restricted_
_funds_
_2023_
_£_
_-_
_35,000_
_-_
_35,000_|_Unrestricted_
_funds_
_2023_
_£_
_Total_
_funds_
_2023_
_£_
_160,113_
_1,992,678_
_11,638_
_117,869_
_1,103_
_106,875_|
|---|---|---|---|
||||_172,854_
_2,217,422_|
## **4. Income from charitable activities**
Group
|Religious activities
Provision of residential care
Leasing of premises for charitable activities
**Total 2024**|**Parochial**
**funds**
**2024**
**£**
148,214
-
-
148,214|**Restricted**
**funds**
**2024**
**£**
66,865
-
-
66,865|**Unrestricted**
**funds**
**2024**
**£**
-
1,369,978
37,150
1,407,128|**Total**
**funds**
**2024**
**£**
**215,079**
**1,369,978**
**37,150**|
|---|---|---|---|---|
|||||**1,622,207**|
Page 23
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4. Income from charitable activities (continued)**
|Religious activities
Provision of residential care
Income from charitable activities - Leasing of
premises for charitable activities
_Total 2023_
Parent
Religious activities
Leasing of premises for charitable activities
**Total 2024**
Parent (continued)
Religious activities
Leasing of premises for charitable activities
_Total 2023_|_Parochial_
_funds_
_2023_
_£_
_128,222_
_-_
_7,917_
_136,139_
**Parochial**
**funds**
**2024**
**£**
148,214
-
148,214
_Parochial_
_funds_
_2023_
_£_
_128,222_
_90,667_
_218,889_||_Restricted_
_funds_
_2023_
_£_
_43,363_
_-_
_-_
_43,363_
**Restricted**
**funds**
**2024**
**£**
66,865
-
66,865
_Restricted_
_funds_
_2023_
_£_
_43,363_
_-_
_43,363_|_Unrestricted_
_funds_
_2023_
_£_
_-_
_1,289,617_
_20,843_
_1,310,460_
**Unrestricted**
**funds**
**2024**
**£**
-
123,011||_Total_
_funds_
_2023_
_£_
_171,585_
_1,289,617_
_28,760_
_1,489,962_
**Total**
**funds**
**2024**
**£**
**215,079**
**123,011**
**338,090**
_Total_
_funds_
_2023_
_£_
_171,585_
_111,510_
_283,095_|
|---|---|---|---|---|---|---|
|||||123,011|||
|||||_Unrestricted_
_funds_
_2023_
_£_
_-_
_20,843_|||
|||||_20,843_|||
Page 24
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **5. Investment income**
Group
|Investment properties
Listed investments
Bank interest
**Total 2024**
Investment properties
Listed investments
Bank interest
_Total 2023_|**Parochial**
**funds**
**2024**
**£**
60,796
57,780
19,096
137,672
_Parochial_
_funds_
_2023_
_£_
_54,002_
_49,625_
_1,484_
_105,111_|**Restricted**
**funds**
**2024**
**£**
-
21,777
-
21,777
_Restricted_
_funds_
_2023_
_£_
_-_
_17,639_
_-_
_17,639_|**Unrestricted**
**funds**
**2024**
**£**
92,036
39,242
45,138
176,416
_Unrestricted_
_funds_
_2023_
_£_
_98,953_
_33,214_
_1,626_
_133,793_|**Total**
**funds**
**2024**
**£**
**152,832**
**118,799**
**64,234**|
|---|---|---|---|---|
|||||**335,865**|
|||||_Total_
_funds_
_2023_
_£_
_152,955_
_100,478_
_3,110_|
|||||_256,543_|
Page 25
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Investment income (continued)**
## Parent
|Investment properties
Listed investments
Bank interest
**Total 2024**|**Parochial**
**funds**
**2024**
**£**
60,796
57,780
19,096
137,672|**Restricted**
**funds**
**2024**
**£**
-
21,777
-
21,777|**Unrestricted**
**funds**
**2024**
**£**
92,036
29,543
43,289
164,868|**Total**
**funds**
**2024**
**£**
**152,832**
**109,100**
**62,385**|
|---|---|---|---|---|
|||||**324,317**|
|Investment properties
Listed investments
Bank interest
_Total 2023_|_Parochial_
_funds_
_2023_
_£_
_54,002_
_49,625_
_1,484_
_105,111_|_Restricted_
_funds_
_2023_
_£_
_-_
_17,639_
_-_
_17,639_|_Unrestricted_
_funds_
_2023_
_£_
_98,953_
_26,158_
_489_
_125,600_|_Total_
_funds_
_2023_
_£_
_152,955_
_93,422_
_1,973_|
|---|---|---|---|---|
|||||_248,350_|
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
Group
|Religious activities
Provision of residential care
Youth service
Pilgrimages
**Total 2024**|**Parochial**
**funds**
**2024**
**£**
1,743,064
119,883
-
-
1,862,947|**Restricted**
**funds**
**2024**
**£**
11,835
4,733
699
60,798
78,065|**Unrestricted**
**funds**
**2024**
**£**
1,102,149
1,154,678
952
4,369
2,262,148|**Total**
**2024**
**£**
**2,857,048**
**1,279,294**
**1,651**
**65,167**|
|---|---|---|---|---|
|||||**4,203,160**|
Page 26
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
|Religious activities
Provision of residential care
Youth service
Pilgrimages
_Total 2023_
Parent
Religious activities
Provision of residential care
Youth service
Pilgrimages
Direct costs - Governance
**Total 2024**
Religious activities
Youth service
Pilgrimages - Direct costs
Direct costs - Governance
_Total 2023_||_Parochial_
_funds_
_2023_
_£_
_1,907,107_
_-_
_-_
_-_
_1,907,107_
**Parochial**
**funds**
**2024**
**£**
1,743,064
119,883
-
-
-
1,862,947
_Parochial_
_funds_
_2023_
_£_
_1,907,107_
_-_
_-_
_-_
_1,907,107_||_Restricted_
_funds_
_2023_
_£_
_19,885_
_6,170_
_5,450_
_61,132_
_92,637_
**Restricted**
**funds**
**2024**
**£**
5,132
-
699
60,798
-
66,629
_Restricted_
_funds_
_2023_
_£_
_15,385_
_5,450_
_61,132_
_-_
_81,967_|_Unrestricted_
_funds_
_2023_
_£_
_811,675_
_1,000,286_
_25,360_
_-_
_1,837,321_
**Unrestricted**
**funds**
**2024**
**£**
1,054,710
268
952
4,369
35,349||_Total_
_2023_
_£_
_2,738,667_
_1,006,456_
_30,810_
_61,132_
_3,837,065_
**Total**
**funds**
**2024**
**£**
**2,802,906**
**120,151**
**1,651**
**65,167**
**35,349**
**3,025,224**
_Total_
_funds_
_2023_
_£_
_2,694,010_
_30,810_
_61,132_
_28,884_
_2,814,836_|
|---|---|---|---|---|---|---|---|
||||||1,095,648|||
||||||_Unrestricted_
_funds_
_2023_
_£_
_771,518_
_25,360_
_-_
_28,884_|||
||||||_825,762_|||
Page 27
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **7. Analysis of expenditure by activities**
Group
|Religious activities
Provision of residential care
Youth service
Pilgrimages
**Total 2024**|**Activities**
**undertaken**
**directly**
**2024**
**£**
1,381,464
1,279,294
952
4,369
2,666,079|**Grant**
**funding of**
**activities**
**2024**
**£**
830
-
699
60,798
62,327|**Support**
**costs**
**2024**
**£**
1,474,754
-
-
-
1,474,754|**Total**
**funds**
**2024**
**£**
**2,857,048**
**1,279,294**
**1,651**
**65,167**|
|---|---|---|---|---|
|||||**4,203,160**|
## **Total 2024**
|Religious activities
Provision of residential care
Youth service
Pilgrimages
_Total 2023_|_Activities_
_undertaken_
_directly_
_2023_
_£_
_1,314,654_
_1,006,456_
_25,360_
_-_
_2,346,470_|_Grant funding_
_of activities_
_2023_
_£_
_100_
_-_
_5,450_
_61,132_
_66,682_|_Support costs_
_2023_
_£_
_1,423,913_
_-_
_-_
_-_
_1,423,913_|_Total_
_funds_
_2023_
_£_
_2,738,667_
_1,006,456_
_30,810_
_61,132_|
|---|---|---|---|---|
|||||_3,837,065_|
Page 28
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
Parent
|Religious activities
Provision of residential care - Direct costs
Youth service
Pilgrimages
Direct costs - Governance
**Total 2024**|**Activities**
**undertaken**
**directly**
**2024**
**£**
1,375,431
120,151
952
4,369
-
1,500,903|**Grant funding**
**Total**
**of activities**
**Support costs**
**funds**
**2024**
**£**
**2024**
**£**
**2024**
**£**
830
1,426,645
**2,802,906**
-
-
**120,151**
699
-
**1,651**
60,798
-
**65,167**
-
35,349
**35,349**
62,327
1,461,994
**3,025,224**|
|---|---|---|
|Religious activities
Youth service
Pilgrimages - Direct costs
Direct costs - Governance
_Total 2023_|_Activities_
_undertaken_
_directly_
_2023_
_£_
_1,309,501_
_25,360_
_-_
_-_
_1,334,861_|_Grant funding_
_of activities_
_2023_
_£_
_100_
_5,450_
_61,132_
_-_
_66,682_|_Support costs_
_2023_
_£_
_1,384,409_
_-_
_-_
_28,884_
_1,413,293_|_Total_
_funds_
_2023_
_£_
_2,694,010_
_30,810_
_61,132_
_28,884_
_2,814,836_|
|---|---|---|---|---|
## **8. Auditors' remuneration**
|**Fees payable to the Charity's auditors and**
**its associates**
For the audit of the Charity's annual accounts
For all non-audit services|**Group**
**2024**
**£**
**16,110**
**27,137**
**43,247**|_Group_
_2023_
_£_
_15,720_
_23,849_
_39,569_|**Company**
**2024**
**£**
**8,700**
**21,317**
**30,017**|_Company_
_2023_
_£_
_8,400_
_20,448_|
|---|---|---|---|---|
|||||_28,848_|
Fees are stated gross of irrecoverable input VAT.
Page 29
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **9. Staff costs**
|**Group**
**2024**
**£**
Wages and salaries
**1,191,063**
Social security costs
**79,214**
Contribution to defined contribution pension
schemes
**31,959**
**1,302,236**|_Group_
_2023_
_£_
_1,030,264_
_70,049_
_30,375_
_1,130,688_|**Charity**
**2024**
**£**
**354,268**
**27,912**
**18,992**
**401,172**|_Charity_
_2023_
_£_
_284,364_
_23,584_
_19,137_|
|---|---|---|---|
||||_327,085_|
The average number of persons employed by the Charity during the year was as follows:
|Subsidiary directors
Care home staff
Curial employees
Parish employees|**Group**
**2024**
**No.**
**3**
**45**
**10**
**15**
**73**|_Group_
_2023_
_No._
_3_
_45_
_8_
_15_
_71_|**Charity**
**2024**
**No.**
**-**
**-**
**10**
**15**
**25**|_Charity_
_2023_
_No._
_-_
_-_
_8_
_15_|
|---|---|---|---|---|
|||||_23_|
No employee received remuneration amounting to more than £60,000 in either year.
## **10. Trustee's remuneration and expenses**
The Trustee of the Diocese receives no remuneration for their services as Trustee. The directors of the Corporate Trustee who are clergy of the Diocese and, as such, are housed, remunerated and reimbursed expenses for carrying out their ministry in the same way as other priests of the Diocese, in accordance with the Code of Canon Law. The Charities and Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 require disclosure of remuneration and expenses paid to Trustees in whatever capacity. The directors take the view that they are not, individually, trustees of the charity and that, in any event, all benefits received by the clergy who serve as directors are given on the same basis as all other clergy, who are beneficiaries of the charity.
During the year, no trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 December 2024, no trustee expenses have been incurred _(2023 - £NIL)_ .
Page 30
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. Tangible fixed assets**
## **Group**
|**Cost or valuation**
At 1 January 2024
Additions
Disposals
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
**Net book value**
At 31 December 2024
_At 31 December 2023_|**Freehold**
**property**
**£**
**6,132,876**
**240,825**
**-**
**6,373,701**
**1,666,377**
**131,484**
**-**
**1,797,861**
**4,575,840**
_4,466,499_|**Motor vehicles**
**£**
**158,542**
**47,419**
**(35,187)**
**170,774**
**113,564**
**18,961**
**(18,585)**
**113,940**
**56,834**
_44,978_|
**Fixtures and**
**fittings**
**£**
**1,186,919**
**84,701**
**-**
**1,271,620**
**818,102**
**68,030**
**-**
**886,132**
**385,488**
_368,817_|**Computer**
**equipment**
**£**
**120,426**
**2,538**
**(1,271)**
**121,693**
**100,333**
**4,864**
**(191)**
**105,006**
**16,687**
_20,093_|**Total**
**£**
**7,598,763**
**375,483**
**(36,458)**
**7,937,788**
**2,698,376**
**223,339**
**(18,776)**
**2,902,939**
**5,034,849**
_4,900,387_|
|---|---|---|---|---|---|
Page 31
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. Tangible fixed assets (continued)**
## **Charity**
|**Cost or valuation**
At 1 January 2024
Additions
Disposals
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
**Net book value**
At 31 December 2024
_At 31 December 2023_|**Freehold**
**property**
**£**
**6,132,876**
**240,825**
**-**
**6,373,701**
**1,666,377**
**131,484**
**-**
**1,797,861**
**4,575,840**
_4,466,499_|**Motor vehicles**
**£**
**125,590**
**47,419**
**(35,187)**
**137,822**
**81,655**
**18,700**
**(18,585)**
**81,770**
**56,052**
_43,935_|**Fixtures and**
**fittings**
**£**
**1,045,543**
**75,416**
**-**
**1,120,959**
**722,101**
**59,831**
**-**
**781,932**
**339,027**
_323,442_|**Computer**
**equipment**
**£**
**98,225**
**1,267**
**-**
**99,492**
**84,858**
**3,664**
**-**
**88,522**
**10,970**
_13,367_|**Total**
**£**
**7,402,234**
**364,927**
**(35,187)**
**7,731,974**
**2,554,991**
**213,679**
**(18,585)**
**2,750,085**
**4,981,889**
_4,847,243_|
|---|---|---|---|---|---|
The carrying amount of investment property, which the Group rents to another group entity having chosen to account for such properties using the cost model, is £924,275 _(2023 - £949,367)_ .
Page 32
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **12. Fixed asset investments**
|**Group**
**Cost or valuation**
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
**Charity**
**Cost or valuation**
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024|**Listed**
**investments**
**£**
**4,224,914**
**814,945**
**(857,886)**
**311,524**
**4,493,497**
**Listed**
**investments**
**£**
**3,884,777**
**701,606**
**(801,161)**
**290,543**
**4,075,765**|
|---|---|
Page 33
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. Investment property**
## **Group and Charity**
|**Valuation**
At 1 January 2024
Revaluation
At 31 December 2024|**Freehold**
**investment**
**property**
**£**
**2,961,254**
**225,000**
**3,186,254**|
|---|---|
Investment properties were revalued at 31 December 2024 by Graham + Sibbald LLP, Chartered Surveyors.
Certain properties are held by the Diocese but income is remitted to the parishes in which the properties are located. The carrying value of these properties is £1,285,000 (2023 - £1,060,000).
## **14. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**Group**
**2024**
**£**
**110,833**
**338,380**
**134,519**
**583,732**|_Group_
_2023_
_£_
_50,780_
_312,673_
_123,656_
_487,109_|**Charity**
**2024**
**£**
**73,754**
**227,110**
**108,236**
**409,100**|_Charity_
_2023_
_£_
_22,319_
_216,093_
_98,418_|
|---|---|---|---|---|
|||||_336,830_|
## **15. Current asset investments**
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2024**|_2023_|**2024**|_2023_|
||**£**|_£_|**£**|_£_|
|Unlisted investments (liquid)|**844,176**|_773,215_|**844,176**|_773,215_|
Page 34
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **16. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Obligations under finance lease and hire
purchase contracts
Other creditors
Accruals and deferred income|**Group**
**2024**
**£**
**79,462**
**13,488**
**8,610**
**139,117**
**270,749**
**511,426**|_Group_
_2023_
_£_
_50,292_
_30,153_
_5,532_
_126,251_
_204,008_
_416,236_|**Charity**
**2024**
**£**
**61,315**
**362**
**8,610**
**168,768**
**180,856**
**419,911**|_Charity_
_2023_
_£_
_39,423_
_6,429_
_5,532_
_155,573_
_157,770_|
|---|---|---|---|---|
|||||_364,727_|
## **17. Creditors: Amounts falling due after more than one year**
|Other loans
Net obligations under finance lease and hire
purchase contracts|**Group**
**2024**
**£**
**500,000**
**27,288**
**527,288**|_Group_
_2023_
_£_
_500,000_
_10,069_
_510,069_|**Charity**
**2024**
**£**
**500,000**
**27,288**
**527,288**|_Charity_
_2023_
_£_
_500,000_
_10,069_|
|---|---|---|---|---|
|||||_510,069_|
Page 35
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. Statement of funds**
## **Statement of funds - current year**
Except those funds which are marked as belonging to Dunkeld Care, all funds are held by the parent charity.
|**Unrestricted funds**
Curial funds
Dunkeld Care Limited|**Balance at 1**
**January 2024**
**£**
**7,904,447**
**710,563**
**8,615,010**|**Income**
**£**
**300,460**
**1,432,296**
**1,732,756**|**Expenditure**
**£**
**(1,117,102)**
**(1,164,816)**
**(2,281,918)**|**Transfers**
**in/out**
**£**
**603,356**
**(200,361)**
**402,995**|**Gains/**
**(Losses)**
**£**
**297,667**
**20,981**
**318,648**|**Balance at 31**
**December**
**2024**
**£**
**7,988,828**
**798,663**
**8,787,491**|
|---|---|---|---|---|---|---|
Page 36
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. Statement of funds (continued)**
|**Parochial funds**
Parochial Funds
**Restricted funds**
Proclaiming our Faith
Lourdes Fund
Ecclesiastical Students' Fund
Elizabeth Hagan Trust
Sundry restricted funds held by parent
Restricted funds held by Dunkeld Care Ltd
**Total of funds**|**Balance at 1**
**January 2024**
**£**
**4,985,738**
**881,071**
**176,780**
**52,785**
**58,503**
**12,641**
**23,738**
**1,205,518**
**14,806,266**|**Income**
**£**
**2,294,640**
**21,777**
**66,865**
**-**
**-**
**2,193**
**10,082**
**100,917**
**4,128,313**|**Expenditure**
**£**
**(1,894,184)**
**(4,707)**
**(60,798)**
**(5,831)**
**-**
**-**
**(11,436)**
**(82,772)**
**(4,258,874)**|**Transfers**
**in/out**
**£**
**(402,995)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**151,393**
**51,690**
**-**
**15,659**
**-**
**-**
**-**
**67,349**
**537,390**|**Balance at 31**
**December**
**2024**
**£**
**5,134,592**
**949,831**
**182,847**
**62,613**
**58,503**
**14,834**
**22,384**
**1,291,012**
**15,213,095**|
|---|---|---|---|---|---|---|
Page 37
## **RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. Statement of funds (continued)**
**Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Poor Mission Fund
**General funds**
Curial funds
Dunkeld Care Limited
**Total Unrestricted funds**
**Parochial funds**
Parochial Funds|_Balance at_
_1 January_
_2023_
_£_
_18,893_
_7,689,250_
_622,744_
_8,311,994_
_8,330,887_
_Balance at_
_1 January_
_2023_
_£_
_4,857,112_|_Income_
_£_
_-_
_216,351_
_1,310,431_
_1,526,782_
_1,526,782_
_Income_
_£_
_2,258,655_|_Expenditure_
_£_
_(18,893)_
_(593,137)_
_(1,243,584)_
_(1,836,721)_
_(1,855,614)_
_Expenditure_
_£_
_(1,936,479)_|_Transfers_
_in/out_
_£_
_-_
_333,143_
_-_
_333,143_
_333,143_
_Transfers_
_in/out_
_£_
_(333,143)_|_Gains/_
_(Losses)_
_£_
_-_
_258,840_
_20,972_
_279,812_
_279,812_
_Gains/_
_(Losses)_
_£_
_139,593_|_Balance at_
_31 December_
_2023_
_£_
_-_
_7,904,447_
_710,563_
_8,615,010_
_8,615,010_
_Balance at_
_31 December_
_2023_
_£_
_4,985,738_|
|---|---|---|---|---|---|---|
Page 38
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. Statement of funds (continued)**
|**Restricted funds**
Proclaiming our Faith
Lourdes Fund
Ecclesiastical Students' Fund
Elizabeth Hagan Trust
Sundry restricted funds held by parent
Restricted funds held by Dunkeld Care Ltd
**Total of funds**|_Balance at_
_1 January_
_2023_
_£_
_816,425_
_159,549_
_73,620_
_58,503_
_12,641_
_25,422_
_1,146,160_
_14,334,159_|_Income_
_£_
_17,639_
_78,363_
_-_
_-_
_-_
_8,986_
_104,988_
_3,890,425_|_Expenditure_
_£_
_(4,397)_
_(61,132)_
_(20,835)_
_-_
_-_
_(10,670)_
_(97,034)_
_(3,889,127)_|_Transfers_
_in/out_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Gains/_
_(Losses)_
_£_
_51,404_
_-_
_-_
_-_
_-_
_-_
_51,404_
_470,809_|_Balance at_
_31 December_
_2023_
_£_
_881,071_
_176,780_
_52,785_
_58,503_
_12,641_
_23,738_
_1,205,518_
_14,806,266_|
|---|---|---|---|---|---|---|
Parochial funds represents funds held by individual parishes.
The Proclaiming our Faith fund is available to provide ongoing training and support to strengthen Catholic values in homes, schools, parishes and the wider community.
The Lourdes fund is funding for the Diocesan pilgrimage to Lourdes.
The Elizabeth Hagan Trust is held for the purposes of alleviation of poverty in the parish of Our Lady of Victories.
Page 39
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **19. Summary of funds**
## **Summary of funds - current year**
|General funds
Parochial funds
Restricted funds
**Summary of funds - prior year**
Designated funds
General funds
Parochial funds
Restricted funds|**Balance at 1**
**January 2024**
**£**
**8,615,010**
**4,985,738**
**1,205,518**
**14,806,266**
_Balance at_
_1 January_
_2023_
_£_
_18,893_
_8,311,994_
_4,857,112_
_1,146,160_
_14,334,159_|**Income**
**£**
**1,732,756**
**2,294,640**
**100,917**
**4,128,313**
_Income_
_£_
_-_
_1,526,782_
_2,258,655_
_104,988_
_3,890,425_|**Expenditure**
**£**
**(2,281,918)**
**(1,894,184)**
**(82,772)**
**(4,258,874)**
_Expenditure_
_£_
_(18,893)_
_(1,836,721)_
_(1,936,479)_
_(97,034)_
_(3,889,127)_|**Transfers**
**in/out**
**£**
**402,995**
**(402,995)**
**-**
**-**
_Transfers_
_in/out_
_£_
_-_
_333,143_
_(333,143)_
_-_
_-_|**Gains/**
**(Losses)**
**£**
**318,648**
**151,393**
**67,349**
**537,390**
_Gains/_
_(Losses)_
_£_
_-_
_279,812_
_139,593_
_51,404_
_470,809_|**Balance at 31**
**December**
**2024**
**£**
**8,787,491**
**5,134,592**
**1,291,012**
**15,213,095**
_Balance at_
_31 December_
_2023_
_£_
_-_
_8,615,010_
_4,985,738_
_1,205,518_
_14,806,266_|
|---|---|---|---|---|---|---|
Page 40
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **20. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Parochial**
**funds**
**2024**
**£**
374,854
2,108,640
-
2,798,890
(120,504)
(27,288)
5,134,592|**Restricted**
**funds**
**2024**
**£**
-
869,797
-
421,215
-
-
1,291,012|**Unrestricted**
**funds**
**2024**
**£**
4,659,995
1,515,060
3,186,254
317,104
(390,922)
(500,000)
8,787,491|**Total**
**funds**
**2024**
**£**
**5,034,849**
**4,493,497**
**3,186,254**
**3,537,209**
**(511,426)**
**(527,288)**
**15,213,095**|
|---|---|---|---|---|
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Ttl**|_Parochial_
_funds_
_2023_
_£_
_-_
_2,116,131_
_-_
_2,983,171_
_(103,495)_
_(10,069)_
_4,985,738_|_Restricted_
_funds_
_2023_
_£_
_-_
_737,663_
_-_
_467,855_
_-_
_-_
_1,205,518_|_Unrestricted_
_funds_
_2023_
_£_
_4,900,387_
_1,371,120_
_2,961,254_
_194,990_
_(312,741)_
_(500,000)_
_8,615,010_|_Total_
_funds_
_2023_
_£_
_4,900,387_
_4,224,914_
_2,961,254_
_3,646,016_
_(416,236)_
_(510,069)_
_14,806,266_|
|---|---|---|---|---|
## **Total**
Page 41
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **21. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net movement in funds
**Adjustments for:**
Depreciation charges
Gains on investments
Decrease/(increase) in debtors
Increase in creditors
**Net cash provided by operating**
**activities**
**22.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**Group**
**2024**
**£**
**406,829**
**223,339**
**(503,524)**
**(96,623)**
**92,112**
**122,133**
**Group**
**2024**
**£**
**2,109,301**
**2,109,301**|_Group_
_2023_
_£_
_472,107_
_208,508_
_(423,940)_
_476,427_
_120,023_
_853,125_
_Group_
_2023_
_£_
_2,385,692_
_2,385,692_||**Charity**
**2024**
**£**
**319,752**
**213,679**
**(515,543)**
**(72,270)**
**52,106**
**(2,276)**
**Charity**
**2024**
**£**
**1,842,063**
**1,842,063**|**Charity**
**2024**
**£**
**319,752**
**213,679**
**(515,543)**
**(72,270)**
**52,106**
**(2,276)**
**Charity**
**2024**
**£**
**1,842,063**
**1,842,063**|_Charity_
_2023_
_£_
_384,288_
_198,851_
_(402,968)_
_505,211_
_93,567_
_778,949_
_Charity_
_2023_
_£_
_2,143,773_
_2,143,773_|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
**23. Analysis of changes in net debt**
|
Cash at bank and in hand
Debt due after 1 year
Hire Purchase
Liquid investments|**At 1 January**
**2024**
**£**
**2,385,692**
**(500,000)**
**(15,601)**
**773,215**
**2,643,306**|**Cash flows**
**£**
**(276,391)**
**-**
**-**
**70,961**
**(205,430)**|**New finance**
**leases**
**£**
**-**
**-**
**(20,297)**
**-**
**(20,297)**|**At 31**
**December**
**2024**
**£**
**2,109,301**
**(500,000)**
**(35,898)**
**844,176**
**2,417,579**|
|---|---|---|---|---|
Page 42
**RC DIOCESE OF DUNKELD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **24. Pension commitments**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pensions cost charge represents contributions payable to the fund. The costs payable by the charity to the fund amounted to £18,992 (2023 - £19,137), the costs payable by the group to the fund amounted to £31,959 (2023 - £30,375).
## **25. Operating lease commitments**
At 31 December 2024 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2024**
**£**
**33,766**
**11,816**
**45,582**|_Group_
_2023_
_£_
_26,567_
_22,637_
_49,204_|**Charity**
**2024**
**£**
**33,766**
**11,816**
**45,582**|_Charity_
_2023_
_£_
_26,567_
_22,637_|
|---|---|---|---|---|
|||||_49,204_|
## **26. Related party transactions**
Dunkeld Care Ltd rents the property from which it trades from RCDD under an agreement where market rent plus 5% of profit is paid, for which rental income was £85,861 (2023 - £83,645). A management charge of £19,500 (2023 - £18,000) was also paid by Dunkeld Care Limited to the parent charity.
At the year end, there remained an amount of £33,769 (2023 - £32,793) due from RCDD to Dunkeld Care Ltd. A donation of £95,000 (2023 - £120,605) was received from Dunkeld Care Ltd.
## **27. Principal subsidiaries**
The following was a subsidiary undertaking of the Charity, by virtue of holding 100% of the voting rights:
|**Name**|**Company**|**Charity**|**Principal activity**|**Included in**|
|---|---|---|---|---|
||**number**|**registration**||**consolidation**|
|||**number**|||
|Dunkeld Care Limited|SC572109|SC047641|Residential care|Yes|
|The financial results of the subsidiary for the year||were:|||
|**Name**|||**Profit/(Loss)/**|
**Net assets**|
||||**Surplus/**|**£**|
||||**(Deficit) for the**||
||||**year**||
||||**£**||
|Dunkeld Care Limited|||**87,077**|**821,047**|
Page 43
Docusign Envelope ID: CB21F2BC-640A-4436-BFCC-8C784E8E9994