St Peter's Episcopal Church, Musselburgh
Trustees’ Report and Accounts
for the year ended 30 September 2025
Charity No: SC003445
St Peter's Episcopal Church, Musselburgh
Year ended 30 September 2025
| Contents | Page |
|---|---|
| Trustees’ Annual Report | it |
| Reference and administrative information | 5 |
| Trustees’ responsibilities | 6 |
| Independent Examiner's report | 7 |
| Statement ofFinancial Activities | 8 |
| Balance Sheet | 9 |
| NotesandAccountingPolicies | 10 |
Page 1.
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025
The trustees present their annual report and financial statements of the charity for the year ended 30 September 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006(as amended) and 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.
Objectives and Activities
St Peter’s Church, Musselburgh is bound by its constitution, being part of the Scottish Episcopal Church Edinburgh Diocese. As a charitable organisation it is governed by its trustees, namely the elected Vestry members. The Vestry manages the temporal affairs of the Charge and ensures that the spiritual welfare of the whole Church is met.
Overview of the year from our Vestry Chair
In the past year, St Peter’s has continued to develop its ministry and mission in Musselburgh, alongside other ecumenical partners. The worship and community life of the congregation has been nurtured through our regular Sunday and mid-week services, as well as through special services during key liturgical seasons: Advent, Lent, Holy Week & Easter, Creationtide and other ecumenical gatherings. Discipleship and spiritual formation have taken place through our Nooma Conversations and the home groups that meet fortnightly exploring the Sunday teaching further. As part of our vision to reach out and open our doors to the wider community, we have hosted a number of events, including: art space, drama and music events, Marathon Café, and arts and crafts markets.
St Peter’s has shown its commitment to becoming a greener congregation, in line with the Net Zero diocesan vision, in a number of ways: selling the old rectory and purchasing a more modern and more energy efficient property; improving its church heating system (Hive) and planning to upgrade the lighting (changing all its lights for LED lights); and is in the process of installing a large scale photovoltaic system on the church hall roof, to supply green electricity to both church and hall. In addition, the hall heating will change from gas to an air source heat pump. Also, in an attempt to become more inclusive we have changed our screen for a larger one, and are in the process of getting planning permission for a new disabled toilet in the hall. We have also installed new signage on the outside of the church.
Overall, this has been a good year for St Peter's, with a highly motivated and energised Vestry committed to our central calling to love God and love others in practical ways. One of the ways we agreed to sharing God’s love with others is by employing a families and children’s minister who will support out in this crucial missional work.
Achievements and Performance
St Peter’s continues to engage with the local and wider community through a number of different channels. Reports on these activities are set out below.
Tods & Tots (Toddler Group)
The year to the end of June continued busy, but, as so often, when we broke for the summer we realised that we were saying goodbye to many of our families whose little ones were graduating to nursery.
We recommenced as usual after a session of toy washing, and were delighted to welcome Geoff Wogan as a regular member of our team. This has been invaluable because we were beginning to find the work of setting up more challenging! Many thanks to Geoff therefore. His presence also means that if one of us needs to miss a Friday it is less of a pressure...
Numbers this session have been slow to build. We have welcomed quite a few new mums with babies, so our hope and prayer is that as they adjust to new routines they will find it easier to get out and establish a habit of meeting up in our hall on a Friday.
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025 Achievements and Performance (cont.)
Page 2.
Cook Club
It has been a busy year. Dani is now established alongside Leslie as Lead Chef and Food Orderer. There is dismay on those occasions when both have to be away!
We were sad at the beginning of the year at the death«1. had found a place in the hearts of all of us over the years. His was a generous and gentle presence on a Wednesday and many attended a lovely service for him at St Andrews High to pay him tribute. In many ways this sums up the significance of Cook Club in our community for those of us who are privileged to belong. ‘There is always room at the table’ - even if you can’t make a weekly commitment...
Generous donations during the ‘harvest’ season have boosted our store cupboard and purse. It will be necessary to apply for more funding in the New Year, but we are confident that this seminal outreach in our community will continue, and thank God for it.
Mothers’ Union
The St. Peter’s branch of the Mothers’ Union continues to survive the trend of clubs and societies threat of demise. We all believe in the preservation of Marriage and Christian family life so membership is not prohibited to just mothers or females!
Our small, but perfectly formed group meets regularly every third Wednesday in the month between September and June. We have started with the same number of members and friends as last year which is encouraging.
In September we started our year with a craft afternoon, maki of paper. It was not as easy as we first thought! In October we had a visit from our Priest in Charge which was enjoyed by all. In November we will be welcoming Eddie, who will be telling us of his fight to overcome alcoholism and his struggle to stay “dry”
We will have more speakers and activities during the year to come, crafts are our favourite subject so far. We celebrate Easter and Christmas with a meal (members only!) at the appropriate time and our AGM is on the last meeting of the year in June. We will publish events on the Church website.
We would love to have more members or friends of Mothers’ Union’s ethos. With such low numbers it is difficult to get speakers so if you have a hobby or a subject we would find fascinating, please get in touch with a member of the committee, we would be very happy to welcome you.
Page 3.
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025
Financial Review
Income was £9,916 higher (2023-24: £8,831 lower) in 2024-25 when compared with the previous financial year. Regular giving increased by £1,960 (2023-24: increased by £62) and hall and church lets increased to £9,064 (202324; £4,611). Expenditure for clergy & ministry costs increased significantly, due to the vacancy last year, there were £10,866 of legal and other fees associated with the sale and purchase of the Rectory, and other expenditure was also more than last year. Overall there was a deficit for the year of £29,763 (2023-24: surplus of £13,116). At the end of the financial year, the balance in the General bank account is up by £113,093 (2024: up by £12,152).
The balance in the General Fund was £195,821 (2024: £81,272) at the year-end, and the balance on the Restricted funds was £19,240 (2024: £20,052), with £499,500 (2024: £643,000) in the designated Rectory Fund. Although the sale and purchase of the Rectory has increased the cash reserves, in the long term, we need to increase our regular income so that we are able to cover the running costs of the church and employing a Rector or Priest-in-Charge. The Y’Eutychus bank account balance is £20,312 (2024: £19,592). This could provide initial funding for a part-time Young People’s Worker but would also need to increase if this was to be considered on an ongoing basis. At the end of the financial year, balances across both the General and Restricted funds totalled £714,561 (2024: £744,324).
Investment Policy & Performance
Church funds are held on deposit with the Bank of Scotland in a current account. Vestry are considering options for investment of surplus funds generated by the sale of the Rectory.
Risk Management
The Vestry considers that the main risks faced by the church lie in continuing to receive the level of congregational giving and other income to allow the church to thrive, maintaining an 150 year old building and ensuring the health and safety of those who attend our church and use our premises.
Safeguarding Co-ordinator’s report
The Safeguarding Co-ordinator continues to keep up to date with SEC safeguarding processes on behalf of Vestry, and liaises with the Priest -in -charge and the SEC, if any matter arises. Safeguarding practice is followed so that everyone in our church community can feel welcome, valued, respected and safe.
On 25th February 2025 the Safeguarding co-ordinator attended a useful training evening at St Paul’s and St George’s Episcopal church in Edinburgh. We then ran an inhouse safeguarding training for vestry members on 27th April. Minor changes to SEC processes have already been instigated, and it was useful to be reminded of responsibilities and the importance of safety for everyone.
PVG disclosure requirements are tighter now, and certificates were sought for three church members, and were sent to SEC for forwarding to Disclosure Scotland. The process is now fully digital, which is a significant change and can present challenges. However, it should make the renewal process easier to manage in the future. We still await further instructions as to when existing members of the scheme be required to renew (it is suggested that this will be every 5 years).
Reserves Policy
The Trustees have decided that unrestricted reserves should be maintained at a minimum of £55,000, which corresponds to six months' general running costs (when a Rector is in position) plus an amount to cover emergency property repairs. Free unrestricted reserves, defined as unrestricted funds excluding fixed assets, are £195,629 as at 30 September 2025 (2024: £81,080). The restricted Y Eutychus Fund is held for youth work and the Cook Club Fund is held for helping the community with meals and cooking skills (see Funds).
Page 4.
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025 Plans for the future
We hope to develop our work with children and young people and continue to serve the local community. Above all, we hope to offer more opportunities for members and newcomers to grow in faith through fellowship together, both on a Sunday and at other opportunities for meeting together, including homegroups and midweek events.
Structure, Governance and Management
The Church is an unincorporated association, governed by a Constitution adopted in January 2011. For the purposes of charities law, the members of the Vestry are the Charity Trustees of the Church. The church is a member congregation of the Diocese of Edinburgh in the Scottish Episcopal Church. The Bishop of Edinburgh has pastoral oversight of all congregations within the diocese, and all congregations are subject to Canon Law of the Scottish Episcopal Church. The members of the Vestry normally hold office for three years and are elected at the Annual General Meeting. The Lay Representative who represents the church at Diocesan Synod is elected annually by the lay members of the congregation at the Annual General Meeting. The Vestry Secretary and Treasurer are appointed by Vestry. The Rector is appointed by the Vestry and the Bishop of the diocese.
Key management personnel
These are members of Vestry as charity trustees. Details of remuneration are given in notes 1 and 2.
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025
Page 5.
Reference and Administrative Information
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Trustees (members of the Vestry)
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- Office-bearers Principal Office St Peter's Episcopal Church, High Street, Musselburgh, EH21 7AG Charity No. $C003445
Independent ExaminerPo
Hollis Accounting, 3 Melville Crescent, Edinburgh, EH3 7HW Bankers Bank of Scotland 172 High Street, Musselburgh, EH21 7EA
St Peter's Episcopal Church, Musselburgh Trustees’ Annual Report (cont.) Year ended 30 September 2025
Page 6.
Trustees' Responsibilities in Relation to the Financial Statements
The charity trustees are responsible for preparing a trustees’ annual report and 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 charity trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the method and principles in the applicable Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements:
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prepare the financial statements on the going concern basis unless it is mappropriate to presume that the charity will continue in operational existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information on the congregation's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on their behalf,
Date: (a/4 2/ 25
Page 7.
Independent Examiner's Report to the Trustees of St Peter's Episcopal Church, Musselburgh
I report on the accounts of the charity for the year ended 30 September 2025, set out on pages 8 to 16.
Respective responsibilities of trustees and examiner
The charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the 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 Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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¢ to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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_
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Chartered Accountant
Address Hollis Accounting Limited
3 Melville Crescent
Edinburgh
EH3 7HW
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Date: ra
QV VEIX3
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St Peter's Episcopal Church, Musselburgh Statement of Financial Activities Year ended 30 September 2025
Page 8.
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Note|Unrestricted|Restricted|Unrestricted|Restricted|
|Funds|Funds|Total|Funds|Funds|Total|
|2025|2025|2025|2024|2024|2024|
|£|£|£|£|£|£|
|Income|and|Endowments|from:|
|Donations|and|grants|
|Congregational|Donations|57,177|1,825|§9,002|52,810|1,535|$4,345|
|Other Donations|729|140|869|1,154|140|1,294|
|Legacies|2,479|-|2,479|-|-|-|
|Grants|-|-|-|480|500|980|
|Other|trading|activities|
|Hall &|church|lets|9,064|-|9,064|4,611|-|4,611|
|Church|fairs &|events|1,049|-|1,049|-|1,317|4,317|
|Other|income|-|-|-|~|7|-|
|Total|Income|70,498|1,965|72,463|59,055|3,492|62,547|
|Expenditure|on:|3|
|Charitable|activities|99,268|2,958|102,226|45,279|4,152|49,431|
|Other|-|-|-|-|-|-|
|Total Expenditure|99,268|2,958|102,226|45,279|4,152|49,431|
|Net|income/expenditure|before|
|gains and|losses on|investments|(28,770)|(993)|(29,763)|13,776|(660)|13,116|
|Net|gains/(losses)|on|investments|-|-|-|-|-|-|
|Net|income/(expenditure)|(28,770)|(993)|(29,763)|13,776|(660)|13,116|
|Transfers|between|funds|9|(181)|181|-|-|-|-|
|Net movement|in|funds|(28,951)|(812)|(29,763)|13,776|(660)|13,116|
|Reconciliation|of funds|
|Total|funds|brought forward|724,272|20,052|744,324|710,496|20,712|731,208|
|Total funds carried|forward|9|695,321|19,240|714,561|724,272|20,052|744,324|
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St Peter's Episcopal Church, Musselburgh Balance Sheet At 30 September 2025
Page 9.
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Restated|Restated|
|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|Funds|Funds|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|2024|2024|
|Note|£|£|£|£|£|£|
|Fixed|Assets|
|Rectory &|feu|duties|6|499,692|-|499,692|643,192|-|643,192|
|Fixtures &|fittings|6|-|-|-|-|-|~|
|Current|TotalAssets Fixed Assets|499,692|-|499,692|643,192|-|643,192|
|Debtors|7|10,084|-|10,084|10,040|-|10,040|
|Cash|at bank and|in hand|186,985|19,240|206,225|72,360|20,052|92,412|
|Total Current|Assets|197,069|19,240|216,309|82,400|20,052|102,452|
|Liabilities|
|Creditors|falling|due|8|(1,440)|-|(1,440)|(1,320)|-|(1,320)|
|within one year|
|Net Current Assets|195,629|19,240|214,869|81,080|20,052|101,132|
|Creditors|falling|due|
|after more than one year|i|
|Net|Assets|695,321|19,240|714,561|724,272|20,052|744,324|
|The funds|of the charity|
|Restricted|income|funds|19,240|20,052|
|Unrestricted|Funds|695,321|724,272|
|Total charity fands|9|71 4,561|744,324|
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St Peter's Episcopal Church, Musselburgh Accounting Policies Year ended 30 September 2025
Page 10.
Basis of preparation
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard 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 Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Fixed Assets
St Peter's Episcopal Church and Church Hall are held in trust by the Diocése of Edinburgh, and are held ‘in Charge’ by the Vestry, as Trustees for the upkeep and maintenance of all the buildings. It is the policy of the Vestry to deal with upkeep and maintenance as quickly as possible within the limits of financial resources available at the time the need for work to these buildings is reported. The charity has a policy not to capitalise items under £750. The Rectory is owned locally.
Property is shown at cost. The carrying value is assumed to be more than the cost, so there is no depreciation.
Furniture, fittings and equipment are shown at cost, less depreciation at an annual rate of 25%.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Interest Receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Congregational giving, donations and grants
Congregational giving, donations, grants, legacies and similar income, including related recoverable Gift Aid tax, are recognised as income when it is clear that the Church is entitled to the income, it is virtually certain that it will be received and when its monetary value can be measured with sufficient reliability.
Donated Services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with Charities SORP (FRS102) the general volunteer time of congregation members is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt.
St Peter's Episcopal Church, Musselburgh Accounting Policies (cont.)
Page 11.
Year ended 30 September 2025
Apportionment of support costs
Expenditure is shown in the Statement of Financial Activities categorised by charitable activity in accordance with the requirements of the Statement of Recommended Practice. All costs are directly charged to the appropriate category.
Pension costs
As explained in Note 1, St Peter's contributions towards clergy pension costs are paid into a defined benefits scheme and are charged to the statement of financial activities under Clergy and Ministry costs as they become payable.
Governance costs
Governance Costs are support costs and relate to those costs necessary to provide the governance infrastructure with allows St Peter's to operate and to generate the information required for public accountability.
Taxation
St Peter's Episcopal Church, Musselburgh is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.
Fund accounting
Funds are classified as either restricted, unrestricted or endowment funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income therefrom is used for the purpose defined in accordance with the objects of the charity.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees! discretion to apply the fund.
Unrestricted funds are available for use at the Vestry's discretion in furtherance of the church's objectives; restricted funds are those given for specific purposes. At the year-end, St Peters had funds as detailed in note 9 of the Accounts.
St Peter's Episcopal Church, Musselburgh Notes forming part of the financial statements for the year ended 30 September 2025
Page 12.
| 2025 | 2024 | ||
|---|---|---|---|
| 1 | Staffcosts and numbers | £ | £ |
| Salaries andwages | 31,229 | 8,471 | |
| (includingemployer's NIwhere appropriate) | |||
| Pension costs | 7,432 | 1,724 | |
| Payrolladmin costs | ____462 | _id | |
| 39,123 | 10,306 | ||
| The average number ofemployees during the year, calculated on the basis | 2025 | 2024 | |
| ofahead count, was as follows: | Number | Number | |
| Clergy& ministry | 1 | - | |
| Other | - | - | |
| a |
The rector was installed in January 2025. The previous rector resigned in December 2023. No employee had employee benefits in excess of £60,000 (2024 none).
The Priest-in-Charge is a member of the Scottish Episcopal Church Pension Fund which is a multi-employer noncontributory defined benefit scheme with benefits based on final pensionable salary. St Peter's is unable to identify its share of the underlying assets and liabilities of the fund on a consistent and reasonable basis and so accounts for its contributions as if the scheme was a defined contributions scheme. The contribution rate of 32.2% paid by the church was first set in 2014. 34.9% of minimum stipend for the period to 31 December 2015 and 32.2% from 1 January 2016. The triennial actuarial review at 31 December 2023 estimated the Fund had a surplus of £4.6m and recommended a reduction in the contribution rate to 22% from 1 Juanuary 2025. There was £nil of contributions outstanding at 30 September 2025 (£nil in 2024), in relation to St Peter's employees.
2 Trustee Remuneration and Related Party Transactions
During the year one trustee received £2,411 reimbursement of expenses incurred (2024: £765) including council tax. One Trustee received £3,670 (2024: £3,120) for cleaning and gardening services. During the year a total of £15,310 (2024: £10,460) was donated to the congregation by trustees.
Key management personnel are the Members of Vestry and the Priest in Charge. No member of the Vestry _ receivedand a trustee,remunerationand receivesor reimbursementremuneration,ofbenefits expenses.andThereimbursementPriest in Chargeof expensesis ex officioin respecta memberof ofservices the Vestryas a stipendiary cleric in line with scales determined by General Synod of the Scottish Episcopal Church.
Other than noted above, no trustees or persons related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year (2024: none).
St Peter's Episcopal Church, Musselburgh Notes forming part of the financial statements for the year ended 30 September 2025
Page 13.
3 Expenditure on charitable activities
Expenditure on charitable activities include direct costs, grants awarded and support costs.
| Direct | Grants | Support | |||
|---|---|---|---|---|---|
| Charitable costs | costs | awarded | costs | Total | |
| 2024/25 | £ | £ | £ | £ | |
| Clergyand ministry costs | 40,965 | - | * | 40,965 | |
| Worship costs | {note 4) | 6,838 | - | - | 6,838 |
| Mission and education costs | 1,821 | - | - | 1,821 | |
| Fabric costs | 16,863 | - | - | 16,863 | |
| Insurance& utilities | 14,941 | - | - | 14,94] | |
| Quota | 6,232 | - | - | 6,232 | |
| Governance& professional costs | - | - | 2,888 | 2,888 | |
| One-offlegal fees forproperty | - | - | 10,866 | 10,866 | |
| Mission support | (note 5) | - | 619 | - | 619 |
| Depreciation | - | - | - | - | |
| Otherexpenses | 193 | - | - | 193 | |
| 87,853 | 619 | 13,754 | 102,226 | ||
| 2023/24 Comparative | |||||
| Clergy and ministry costs | 16,855 | - | - | 16,855 | |
| Worship costs | (note 4) | 4,234 | - | - | 4,234 |
| Mission and education costs | 1,007 | - | - | 1,007 | |
| Fabric costs | 4,543 | - | - | 4,543 | |
| Insurance& utilities Quota Governance& professional costs |
12,579 5,979 - |
- - - |
- - 2,767 |
12,579 5,979 2,767 |
|
| Mission support Depreciation |
(note 5) | - - |
1,317 - |
- - |
1,317 - |
| Otherexpenses | 150 | - | - | 150 | |
| 45,347 | 1,317 | 2,767 | 49,431 |
Expenditure on charitable activities in 2024 included £2,958 on worship, mission & outreach (2024: £4,152 on worship, mission & outreach) restricted expenditure, with the remaining expenditure being unrestricted.
| 4 | Breakdown ofWorship Costs | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Music | - | - | |
| Bread, wine& candles | 1,804 | 323 | |
| Cleaner& cleaning supplies | 3,702 | 3,285 | |
| Garden | 796 | 354 | |
| Breakfast, Gateway& kitchen costs | $53 | 272 | |
| Other service costs | (17) | - | |
| 6,838 | 4,234 |
Page 14.
St Peter's Episcopal Church, Musselburgh Notes forming part of the financial statements for the year ended 30 September 2025
- 5 Grants for Mission Support
| Grants for MissionMission Support | ||
|---|---|---|
| The following grant supportwas provided duringthe year. | 2025 | 2024 |
| £ | £ | |
| Charitable donations | 619 | 1,317 |
| 619 | 1,317 |
| 6 | Tangible Fixed Assets | Restated | |||||
|---|---|---|---|---|---|---|---|
| Rectory& | Fixtures& | Rectory& | Fixtures& | Restated | |||
| Feu Duties | Fittings | Total | Feu Duties | Fittings | Total | ||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Cost | £ | £ | £ | £ | £ | £ | |
| At 1 October | 643,192 | 48,041 | 691,233 | 643,192 | 48,041 | 691,233 | |
| Additions | 499,500 | - | 499,500 | - | - | - | |
| Disposals | (643,000) | - | (643,000) | - | - | - | |
| At 30 September | 499,692 | 48.041 | 547,733 | 643,192 | 48.041 | 691,233 | |
| Accumulated Depreciation | |||||||
| At 1 October | - | 48.041 | 48,041 | - | 48,041 | 48,041 | |
| Charge foryear | - | - | - | - | - | - | |
| Eliminated on Disposals | - | - | - | - | - | - | |
| At 30 September | - | 48.041 | 48,041 | - | 48,041 | 48,041 | |
| NetBook Value | |||||||
| At30September | 499,692 | ~ | 499,692 | 643,192 | - | 643,192 |
The ‘in Charge’ St Peter's Episcopal Church and church hall are insured for £6,382,463 and the Rectory for £1,000,000. The cover is reviewed annually. Following decisions by the Vestry and the Scottish Episcopal Church, St Peter's no longer has any investments. The Rectory was sold in the year and a new Rectory was purchased.
| 7 | Debtors and prepayments | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| GiftAid tax reclaimable—General Account | 10,084 | 10,000 | |
| Hall& church lettings | - | 40 | |
| Quota—prepaid | - | - | |
| Other debtors | - | - | |
| 10,084 | 10,040 | ||
| 8 | Creditors | 2025 | 2024 |
| £ | £ | ||
| Other creditors | - | - | |
| Wages& pension | - | - | |
| Accountancy and examination services | 1,440 | 1,320 | |
| 1,440 | 1,320 |
Page 15.
St Peter's Episcopal Church, Musselburgh Notes forming part of the financial statements for the year ended 30 September 2025
==> picture [367 x 354] intentionally omitted <==
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|9|Movements|in|Funds|At|1|Oct.|Income|Expenditure|Transfers|At 30|Sept.|
|2024/25|£|£|£|£|£|
|Restricted|funds|
|Y'Eutychus|Fund|17,769|720|-|-|18,489|
|Cook Club|2,283|630|(2,162)|-|751|
|Garden|Fund|-|615|(796)|181|-|
|Other|restricted|funds|-|-|-|-|-|
|20,052|1,965|(2,958)|181|19,240|
|Unrestricted|funds|
|General|Fund|81,272|70,498|(99,268)|143,319|195,821|
|Rectory|Fund|643,000|-|-|(143,500)|499,500|
|724,272|70,498|(99,268)|(81)|695,321|
|Total|funds 2024/25|744,324|72,463|(102,226)|-|714,561|
|Restated|Restated|
|Movements|in|Funds|At|1|Oct.|Income|Expenditure|Transfers|At 30|Sept.|
|2023/24|comparative|£|£|£|£|£|
|Restricted|funds|
|Y'Eutychus|Fund|16,674|1,095|-|-|17,769|
|Cook|Club|4,038|740|(2,495)|-|2,283|
|Garden|Fund|-|340|(340)|-|-|
|Other|restricted|funds|-|1,317|(1,317)|-|-|
|20,712|3,492|(4,152)|-|20,052|
|Unrestricted|funds|
|General|Fund|67,496|59,055|(45,279)|-|81,272|
|Rectory Fund|643,000|-|-|-|643,000|
|710,496|59,055|(45,279)|-|724,272|
|Total funds 2023/24|731,208|62,547|(49,431)|-|744,324|
----- End of picture text -----
Purposes of Restricted Funds
Y'Eutychus Fund: This fund has been set up to pay the costs of a youth worker.
Cook Club: This is a project working with Musselburgh Churches Together and the Cyrenians to make meals together in the community and to teach basic cooking skills.
Garden Fund: This was set up to pay for planters for outside the Church
Other restricted funds: This is for funds raised for other charities.
Purposes of Designated Funds
Rectory Fund: This fund reflects the value of the property.
The transfer from the Rectory fund to unrestricted funds reflects the sale of the old Rectory and purchase of the new Rectory.
St Peter's Episcopal Church, Musselburgh Notes forming part of the financial statements for the year ended 30 September 2025
Page 16.
| 10 | Analysis ofNetAssetsAmong | AmongFunds | Restated | Restated | |||
|---|---|---|---|---|---|---|---|
| General | Restricted | Total | General | Restricted | Total | ||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | £ | £ | ||
| Fixed Assets | 499,692 | - | 499,692 | 643,192 | - | 643,192 | |
| CurrentAssets | 197,069 | 19,240 | 216,309 | 82,400 | 20,052 | 102,452 | |
| Current Liabilities | (1,440) | - | (1,440) | (1,320) | - | (1,320) | |
| Net assets at30 Sept | 695,321 eeemancitatctememeaes |
19,240 {= |
714,561 a |
724,272 emaeeenmneeNE |
20,052 ——————— |
744,324 See |
11 Quota
Quota is paid by St Peter's to the Diocese of Edinburgh to support the work of the Diocese and of the Scottish Episcopal Church as a whole.
| 12 | Governance costs include | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| IndependentExaminer'sServices | 1,440 | 1,320 |
13 Prior year restatement
Following Igal advice received during the sale of the Rectory it was established that the property was held by local property trustees (the charity trustees) for the benefit of the charity, rather than by the Diocese. The property has therefore been included as an asset owned by the charity in the prior period.