2025-09-30-accounts - St Mary's Episcopal Church: Newport

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St Mary’s Episcopal Church Newport on Tay

Financial Statements for the year ended 30 September 2025

(Scottish Charity Number SC003380)

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Registered charity number $C003380

St Mary’s Episcopal Church

Charity information

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The members of the Vestry —_ oy — ae Bankers Virgin Money 7/8 High Street Dundee DD1 SDD

independent examiner

Henderson Loggie LLP The Vision Building 20 Greenmarket Dundee DD1 4QB

Investment managers Rathbones Investment Management Limited George House 50 George Square Glasgow G2 1EH

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St Mary’s Episcopal Church

Annual report of the members of the Vestry

eee The members of the Vestry present their annual report together with the financial statements for the year ended 30 September 2025. The members of the Vestry are the charity's Trustees for the purposes of charity law.

InStructureand govemance terms of the Charity and Trustee investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended), the Vestry reports to the congregation as follows:

1 St Mary's, Newport-on-Tay is a registered Scottish Charity (SC003380) 2 ChurchItis a member and is ofpartthe of Diocese the Worldwide of StAndrews, Anglican DunkeldChurch. and Dunblane in the Scottish Episcopal 3 The superior authority is the Bishop of St Andrews, Dunkeld and Dunblane.

4 St Mary's Episcopal Church is referred to within its Constitution as "the Charge". 5 All of its affairs are governed by the Vestry in accordancewith the Constitution of the Charge adopted as revised in the year 2021. VestryAppointmentof Vestry Members Meetingmembersestablished are elected orby Constitution appointund e rd canonfrom thelaw membershipof the Scottish of theEpis co ngregationpal Church. byThere Annual Generis no form al induction programme but ongoing guidance is given to ensure that Vestry members are familiar with the Church's values and aims, and with the responsibilities of charity trustees. AsAppointment[allowed] i iAin theof VestryelectedConstitutionMembersas Vestrythe incurrent yeareITDer.members were wi ing to serve forcies the year 2024-2025. VesHavingnovicebeen BIE 2s cccirted.as PVG oftcer

Itis the duty of the Vestry to manage the affairs of the congregation with responsibility to keep the fabric and property of the Church in good working order, and fo look after the finances of the Charge. TheStatementVestry ofkeeps Riskunder review the major risks to which the Change is expased and has established proceduresto mitigate any risks identified.

youth, the elderly and community groups of all ages; all in accordance with the Objects prescribed by the

Volunteers The Vestry is grateful for the time freely given by volunteers withouf whom many of the activities could notplace. take place.for the time freely given by volunteers without wham many of the activitiescould not take

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St Mary’s Episcopal Church

Annual report of the members of the Vestry (continued)

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Achievements and performance

The Charge continues to make its facilities available for use by, and to provide worship for, the whole community.

We have also held events which attracted participation from the wider community. Setting aside the expense occurred in relation to disabled access, our income has held its own and we have achieved all the repairs which were necessary during the year.

Financial review A deficit of £17,073 (2024 — surplus of £421) has been reported during this financial year before investment movements. The deficit has arisen as a result of the charity's investment in improving disabled access and facilities during the year. The Vestry is grateful for the continuing financial support of the congregation.

Future plans

Work continues to accommodate disabled access in the form of a lift, and the building of a toilet within the church grounds. It is hoped these works will be completed by the end of the year.

Reserves There is a policy of maintaining unrestricted funds at a level such that if a significant fall in income were to occur, the current activities could be maintained whilst alternative funding is sought.

Statement of Vestry Members’ Responsibilities

In compliance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) the Vestry is charged with preparing statements in sufficient detail to permit an appreciation of the financial activities of the Charge during the financial year. It is responsible for keeping proper accounting records that, on request, reflect the financial position at the time in question. It is also charged with safeguarding the assets of the Charge and with taking reasonable steps for the prevention and/or detection of fraud and other irregularities.

On behalf of the Vestry:

22 November 2025

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St Mary’s Episcopal Church

Independent examiner's report to the Vestry of St Mary’s Episcopal Church

| report on the financial statements of the charity for the year ended 30 September 2025 which are set out on pages 5 to 10.

This report is made to the Vestry (Trustees for charity law purposes), as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion set out below and for no other purpose. To the fullest extent permitted by law | do not accept or assume responsibility to anyone other than the Vestry, as a body, for my work or for this report.

Respective responsibilities of the Vestry and independent examiner

The Vestry is responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities (Scotland) Regulations 2006 (as amended). The Vestry consider that the audit requirement of Regulation 10(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the financial statements as required under Section 44(1)(c) of the 2005 Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. 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 or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the financial statements. Opinion

In 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)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations; and
° to prepare financial statements which accord with the accounting records and comply with Regulation 9 of the 2006 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 statements to be reached.

For and on behalf of Henderson Loggie LLP Chartered Accountants Dundee

22 November 2025

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Notes to the financial statements

St Mary’s Episcopal Church

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1 Accounting policies

Basis of preparation

The financial statements have been prepared on a receipts and payments basis. They consist of a summary of all monies received and paid via the bank and in cash by the church during the financial year, along with a statement of balances. No adjustments have been made for any income due but not received, nor for any expenses incurred but not yet paid at the year end.

Church buildings

The church is not shown in the statement of balances. The Vestry believe that it is not possible to place a fair value on it. The valuation of the church for insurance purposes is £6,650,000 (2024 - £6,650,000).

Funds

Funds are classified as either restricted, unrestricted or endowment funds.

2	Donations	2025 £	2024 £
	Unrestricteddonations
	Congregational giving Donations Incometaxrepayment/giftaid	2,405 6,971 535	3,719 6,526 2,102
		9,911	12,347
	Restricted funds
	Buildingdonations	95,463	1,484
		95,463	1,484
		105,374	13,831
3	Incomefrominvestments	2025	2024
		£	£
	Dividend income Bankinterest	4,392 2,995	5,961 3,751
		7,387	9,712

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St Mary’s Episcopal Church

Notes to the financial statements (continued)

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Payments relatingtocharitable activities
Unrestricted Heatand light Charitabledonations Quota Stationery, photocopyingandpostage Repairs Organist Cleaning Sundries Portaloo hire Liturgical Locum Gifts Clergyexpenses Rates	2025 £ 1,472 267 2,596 50 2,094 604 1,230 757 . 39 611 200 2,940 930	2024 £ 1,626 528 2,784 280 14,613 Z 1,168 723 1,234 332 295 - 5,002 -
	13,790	28,585
Restrictedfunds
Insurance Repairs—disablesaccess works	§,234 107,069	2,478 -
	112,300	2,478
	126,090	31,063

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St Mary’s Episcopal Church

Notes to the financial statements (continued)

5 Funds (continued)

The Maude Pilkington Fund for St Mary’s

These funds represent a legacy donated by the late Maude Pilkington. The condition attached to this fund was that the capital was to be retained, but the income could be used for the general purposes of the church.

The Crichton Endowment Fund

This fund was set up in 1942 with the proceeds from the sale of jewellery donated by the late Mrs toJB supplementCrichton. theThe Rector’scondition stipend.was thatthe income from this fund was to be used from timeto time

Miss AM Pilkington’s Endowment Fund

This represents an original donation of Alliance Trust shares, the capital to be retained and the income used for the general purposes of the church.

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Restricted funds At income Expenses Transfers At
2025 30.9.2024£ received£ for year£ inyear£ 30.9.2025£
Building fund (994) 95,463 (142,300) 17,834 -
(994) 95,463 (112,300) 17,831 -
Restricted funds At Income Expenses Transfers At
2024 30.9.2023£ received£ for year£ inyear£ 30.9.2024£
Flower fund - - - - -
Building fund - 1,484 (2,478) - (994)
Organ fund - 7 7 - .
- 1,484 (2,478) - (994)
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The restricted fund represents money held for updating the disabled access to the building which took place during in the current year. An element of the work was met from general funds. This work remains ongoing.

6 Remuneration and expenses paid to Vestry members

No member of Vestry was paid a stipend or reimbursed expenses in either financial year.

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