Scottish Charity No: SC003796
St Matthews and St George Church, Oldmeldrum
Annual Report and Accounts for the year ended 30 September 2025
Pages 1 & 2 blank for Vestry report
Independent Examiner’s Report to the Vestry of St Matthews and St George Church Oldmeldrum Charity number SC 003796
I report on the accounts of the charity for the year ended 30 September 2025 which are set out on pages 4 to 7.
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 2006 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 Accounts Regulations. 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
-
1 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 Accounts Regulations, and
-
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jane Dempster Chartered Certified Accountant 16 Nellfred Terrace, Inverurie, AB51 4TJ Date:
To be signed and dated once accounts are approved
3
ST MATTHEWS AND ST GEORGE CHURCH OLDMELDRUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025
| INCOMING RESOURCES Voluntary income Congregational giving (including gift aid reclaimed) Donations and legacies Activities for generating funds Rent receivable - rectory Investment income Investment income - UTP distributions Investment income - share dividends Investment income - Evelyn Partners fund Total incoming resources RESOURCES EXPENDED Charitable activities Clergy and ministry costs Worship costs Charitable donations Rectory upkeep costs Church cleaning and upkeep Organ refurbishment and church repairs Heat and light Insurance Legal fees relating to rectory Miscellaneous costs Accountancy fees Quota Note 6 Total resources expended Net -outgoing/incoming resources Unrealised gain on investment Net movement in funds Fund balance at start of year Fund balance at end of year |
Unrestricted Fund total 2025 £ 10,798 500 12,575 1,089 303 10,196 |
Unrestricted Fund total 2025 £ 10,798 500 12,575 1,089 303 10,196 |
Unrestricted Fund total 2025 £ 10,798 500 12,575 1,089 303 10,196 |
Unrestricted Fund total 2024 £ 8,313 5,500 11,400 957 299 10,458 |
Unrestricted Fund total 2024 £ 8,313 5,500 11,400 957 299 10,458 |
Unrestricted Fund total 2024 £ 8,313 5,500 11,400 957 299 10,458 |
|
|---|---|---|---|---|---|---|---|
| 35,461 | 36,927 | ||||||
| 2,473 333 250 14,700 16,702 1,080 5,268 3,453 2,682 146 378 5,900 |
2,633 298 0 1,671 2,894 10,958 7,688 3,407 2,588 276 378 6,229 |
||||||
| 53,365 | 39,020 | ||||||
| -17,904 24,115 |
-2,093 37,740 |
||||||
| 6,211 918,259 |
35,647 882,612 |
||||||
| 924,470 | 918,259 |
The notes on pages 6 and 7 form part of these accounts.
4
ST MATTHEWS AND ST GEORGE CHURCH OLDMELDRUM STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025
| Fixed assets (note 4 ) Heritable properties at book value Investments at market value (book cost unknown) Current assets Bank current account Cash in hand Current liabilities Accrued charges Net current assets Total assets less current liabilities Represented by: Unrestricted general funds |
2025 £ 432,809 466,641 |
2024 £ 432,809 442,180 |
|
|---|---|---|---|
| 899,450 | 874,989 | ||
| 25,338 60 |
43,588 60 |
||
| 25,398 | 43,648 | ||
| 378 | 378 | ||
| 25,020 | 43,270 | ||
| 924,470 | 918,259 | ||
| 924,470 | 918,259 |
Approved by the Vestry on and signed on their behalf by:
The notes on pages 6 and 7 form part of these accounts.
5
ST MATTHEWS AND ST GEORGE CHURCH, OLDMELDRUM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 ACCOUNTING POLICIES
Basis of preparation of accounts
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment assets and are in accordance with applicable accounting standards, the Charities Accounts (Scotland) Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) issued in 2005.
Note 2 explains the general purposes of St Matthews and St George Church funds.
Tangible fixed assets and depreciation
Heritable properties are shown at cost and expenditure on improvements is capitalised. Depreciation is not provided on heritable properties. The heritable properties have useful lives in excess of fifty years. No depreciation has been provided against the book value of heritable properties as, in the opinion of the Vestry, due to the long useful economic lives of the properties and their high residual values, any depreciation charge and resultant accumulated depreciation are immaterial. In the opinion of the Vestry, no impairment of the carrying values has occurred during the year. Expenditure on other tangible fixed assets is charged to revenue as incurred.
Fixed asset investments
Investments are shown at market value and unrealised gains and losses are included in the Statement of Financial Activities.
Congregational giving, donations, legacies and similar income
Congregational giving is accounted for when received. Donations, legacies and similar income are accounted for when entitlement arises and a reliable estimate of the amount to be received can be made.
Disposals of investments
Realised profits and losses on investments are recognised on the date of disposal and are included in the Statement of Financial Activities.
Governance Costs
Governance Costs relate to those costs necessary to provide the governance infrastructure which allows the church to operate and to generate the information required for public accountability.
2 FUNDS
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. Designated funds are unrestricted funds that have been allocated for a specific purpose by the Vestry. St Matthews and St George Church has unrestricted funds only.
3 TRUSTEE REMUNERATION, BENEFITS AND EXPENSES
No member of the Vestry received remuneration or reimbursement of expenses, other than reimbursement of purchases made on behalf of the Church.
6
ST MATTHEWS AND ST GEORGE CHURCH, OLDMELDRUM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 (continued)
4 FIXED ASSETS
| At 1 October 2024 Additions during year Net income after withdrawals Net gain on revaluation Balance at 30 September 2025 |
Investments Heritable Total (at valuation)Property £ £ £ 442,180 432,809 874,989 - - - 346 - 346 24,115 - 24,115 |
|---|---|
| 466,641 432,809 899,450 |
The church building and the rectory are owned by St Matthews and St George Church. The original cost of these assets and the cost of improvements prior to the restoration works in 2011 are not known and have not been included because, in the opinion of the Vestry, the cost of professionally valuing them to include a value in the accounts outweighs the benefits to users of the accounts.
St Matthews and St George’s Church investments are held in the Scottish Episcopal Church Unit Trust Pool, Royal Dutch Shell shares and a managed investment portfolio with Evelyn Partners. The Unit Trust Pool was established by the Investment Committee of the General Synod to bring together the disparate investments of the various funds of the General Synod, the Dioceses and the individual congregations of the Church to enable these to be managed professionally. The Unit Trust Pool is therefore purely an investment vehicle of the Scottish Episcopal Church. The majority of investments in the Unit Trust Pool relate to UK investments.
5 RECONCILIATION OF MOVEMENT IN FUNDS
There is one single unrestricted fund.
6 QUOTA
Quota is paid by St Matthews and St George Church to the Diocese of Aberdeen and Orkney to support the work of the Diocese and of the Scottish Episcopal Church as a whole.
7