Scottish Charity No.SC005332 St Peter's Episcopal Church: Stornoway Trustees, Report and Receipts and Payments Account For the Year Ended 30 September 2024
St Peter's Episcopal Church.. Stornoway Contents of the Financial Statements for the year ended30 Septen7ber 2024 Page Church Inf0mtiOn RekK)rt of the Trust Rert of the Independent Examiner Reipts and Payments Account ststement of BalanS Notes to the Accounts 7-10
St Peter's Episcopal Church: Stornoway Churth Inforniation Registered Charity number SC005332 Address Bankers Royal Bank of kouand 17 North Street Stornoway Isle of HSI 2XH Tndependent Examiner 63 Kenneth Street StortK>Way IS of Lewis HSI 2DS
St Peter's Episcopal Church: Stornoway Report of the Trustees The Trustees present their report together with the Rereipts and Payments kcount of the charity for the year ended 30 Septsmber 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, Governance and Management St Peter's Episcopalian Church.. Stornowèy is an unincorporated association, governed by a constitutyon dated 1875 and last amended in 1995. As a member congregation of the Diocese of Argyll and the Isle5 in the Scottish Episcopal Church, it 15 also governed by Canon Law and the Digest of Resolutions of the Scottish Episcopal Church. The management team of the Church is known as the Vestry. For the purposes of charities law, the members of the Vestry are the Chanty Trustees of the Church. Detsi15 of the Vestry members are given on page l. Apart from the Rector, ordinary Vestry memLErs are elected by the Q>ngregation at the annual meeting. The Treasurer and Secretary are app)Inted by the Vestry arvj do not have to be elected at the annual meeting. At least one member retires at the annual meetino, generally the longest serving and will not be eligible to be re*lected that year. If there is more than one member in that category, the member to retire shall be chosen by lot. Two vestry memLErs (the rector's warden and the church warden) are appointed by the Rector. The Rector is aptJ)inted by the Vestry and the Bishop of the DKKese. New vestry members a given an induction pad( outlining their rdes and responsbilities. The vesty secretary regulaily updates other members of the vestry on relevant changes in legislation and prnrti relating to charities Relationship with Diocese and Province St Peters Episcopal Church: Stornoway is SUFP)rted by the Diocese and the Provin through the pastoral oversght of the Bishop, central suppc>rt funrtions provided at tlocesin level and grants frotn ntral funds. The church is represented at Diocesan level by the Rector and the Lay Representative. As a memLEr of the SEC, St Peter'5 has an obligation to contribute to the costs of the DiiKese and the Province through payment of an annual 'quota'. This amount is based on the relative level of inujme of the church in comparison with that of other churches in the Diocese and Province. Vestry Responsibilities The vestry is responsible for managing and safeguarding the assets of the church, and assist the Rector in matters affecting the spiritual welfare of the congregation. They are also respon&ble for keeping proper ccounting records and ensurirKJ that the accounts are prepared In accordan with the terms of the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The vestry regularly considers the risks fad by St Peterfs and ensur that appropriate risk management procedures are in pla to mitigate those risks.
St Peter's Episcopal Church: Stornoway Report of the Trustees FINANCIAL REVIEW Results for the year The receipfs and payments account for year is set out in pages 5 to 10. At 30 septnber 2024 the Unrestricted General Fund had a balarte of £5,158 {2023 - £38,790). Thwe was akn an Unrestricted Designated Fund relatyng to the St Moluag's Restoration which at 30 September 2024 had a balance of £20,(X)012023 - £20,000). Restricted funds as at 30 SeptemiEr 2024 were made up from the St Noluag's RestoratK)n Fund £2,000 12023 - NIL) the Windows FLJnd £14,998 (2023 É14,998), the Mission Seed Fund £1112023 - £111, the Altar Hower Fund £25512023 - E2681, the Sister aare Memorial Fund E500 (2023- £5001, and the lona Pilgrinwge Fund £B80 {2023- £9801. Total reserves amounted to £43,802 (2023 - £81,719). Reserves Policy St Peterfs E5£paI Churd): Stornoway's reserve5 fall into the category of unrestricted and restrirted fvnds. Unrestrirted fund5 can be spent on any relevant activity; restricted fijnds can only be spent on a defin8 arts'vity. The Vestry has a(Jopted a policy of trying to maintain a level of unrestrKted reserves sud) that, in the event of a swJnificant drop in inconE, the church would be able to maintain its current level of activities for a reasonable rIOd until replacement funding is obtained. Investment policy and objectives Monies which are not needed to fund day to day expEnditure, are Invested in the Scottish Episcopal Churd) Unit Trust Pwl {P), administered by Baillie Gifford. The investment tx)licy of the Lrrp, which accords wrth that of the vestry, is to earn a return on the assets, over the long tem, sufficient to maintain the real value of the distribution to unit holders. The p has developEd an ethical investment w)Iicy. No investments will be rnade in Cofnpanies which derive more than 15% of their revenue from tobacco, garnLling or armaments. The majority of the Ltrp is invested in UK eyuities. CONCLUSION The memtrers of the Vestry would like to thank all those who contribute their time, energy and money 50 generoUY to ensure the continuab'on and devdopn*nt of St Peter's Episcopal Church: Stornoway as a centre of worship and a focus for the community. Approved by order of the board of trustees and &gned on its behalf: Date-
St Peter's Episcopal Church: Stornoway Report of the Independent Examiner to the Trustees for the year eThled30Septemkn2024 I report on the accounts of the d)urch fix the year ended 30 SeptemLr 2024 which are set out on pages 5tolO. Respectlve respDn5ibilities of trnstees and examiner The charitys trustees are reswjnsble for the preparation of the accounts in accordan with the temis of the Charities and Trustee Investment Iscodand) Art 2005 and the Charib'es Accounts (Scotland) Regulati¢)n5 2006. The charity trustees consider that the atKJit requirement of Regulation 10{11 {dl of the Accounts Reguk3bons does not apply. It is my resrK>nsibility to examine the accounts a5 rEvuir1 under section 4411) Icl of the Att and to state whether partular matters have (Dme to my attention. Basis of independent examlner's statement My examination is carried out in COrdanCe wfch Regulation 11 of the Charities ALrounts Iscodand) Regulations 2006. An eXaMinatn includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those words. It also indudes consideration of any unusual itWll5 or disclosures in the accounts, and seeks explanations from the trustees Conrning such matters. The pledureS undertaken do not provide all the eden that would tre required in an audit, and ConseqndY I do rM)t expre$5 an audit ¢)pinion on the view given by the acciiunts. Independent Examlners. Statement In the course of my examination, rK) matter has come to my attention l. whith gives [1 reasonable cause to believe that in any material respect the requirements.. to keep accounting records In accordan with Sethon 44111 (a) of the 2005 Act and RegulatDn 4 of the 2006 Accounts Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not teen met, or 2. to which, in my opinion, attention should drawn in order to enable a proper urKler5tanding of the accounts to reached. Address: CIB sery15 63 Kenrth Street Stornoway Ie of Lewis HSI 2DS Date: 16, 11 14
St Peter's Episcopal Church: Stornoway Receipts and Payments Account Year ended 30 September 2024 Unrestrfcted Restricted Fund Funds 2024 2024 Total 2024 Total 2023 Recei Voluntsry Income Intome from Charltsble Actyvit Inve51rnent 62,236 3,936 12,518 4,735 62,929 597 66.971 66,865 13,115 92,554 14.993 10,809 78,690 68.261 146.951 118,356 Other incomlng regouces Heat & ght Refurkl - Newt Hall Total R 78.690 146 951 ments Charitable activities Governance costs 105,250 1,820 77.798 183,048 1,820 90.193 1,576 Total P ments 107 070 77,798 Net Receiptsl(Payments) for the year before transfers (28.380) (9.537} {37,9171 26.587 Transfers 15.2521 5,252 Surplusl{Deficit) for the year (33,632) (4.2851 (37,917) 26,587
St Peter's Episcopal Church: Stornoway ststement of Balances At 30 SeptemtEr 2024 Unrnstricted Restrlcted Fund Funds 2024 2024 Totsl 2024 Totsl 2023 Bank & der*)gt baknc tKought forward 58.790 22,929 81,719 55.132 Movement In year: Excess of Receipts over PaynEnts for the year 133,6321 14,2851 137.917) 26,587 Bank & dem trx4L4r carried fowward itional I Foxed Assets InVeStmts 31,177 31,177 27,055 Current assets Llabilities Accruals 510 510 The Accounts detailed on pages 5 to 10 were approval by the Trustees on t1r ha by the urbdernoted. IrLLStee Trust Date.. ZWii/ zr Date.. /ii/ z
St Peter's Episcopal Church: Stornoway Notes to the Accounts Year ee0 30 Septetnber 2024 l. Accounttn9 Polies The financial 5tstefflents have preparett under htstoricai cost conven¥, and under the gUele3 laid dow in &&ernenr of Recotntnended Pracuty- Accountlng and Rewrtin9 by chit (rev15ed 2W61 The fin0a1 ststetnents have been ppar on a rLrelOs and payments ba51s volurtary itKorne bank In$1 Is acuunted for when receivea. For Ihe pwwsè of the ststenErf of ealaKe as shown on page 6, fund5 are defined a5 fo0$.. VThrethctrd fvnd$ (wyri grants and Olher IFKome recelved for the objects of th2 church wIthl further 5pecrfied purrA)se and a¢ avèilable as general funds Re5trKted fund$ comprise Inco whlch has been recved for objecis cl tr church and 5pwra for a stn(ted purwse wrthin obJett5 by tIE doror L Remunerdtk)n and Related PartyTransactloTr$ Nor of the vestry members receive any remuneration relatsn9 to thr a5 very fflembe There wa5 reitnbur5ement of exwnsto Trustees dunng the year.
St Peter's Episcopal Church: Stomoway Notes to the Accounts Yt wd&130 SeNefflter 2024 iOc 130sep 2D13 ReIpts Payrn•Trts fvn%f4rs 2024 norhl Fund 38,7UW 78. 107,070 5t P¢5ttyatvJn Fund 20.QOO 58,79) 7e.6YJ i070 5.25 25.158 The GBnernl enc(rya5Tes all Int(xn2 ?d e¥p¥thre rebvng to thè yim I($ of thecFwity, othEr than thcb5e fndl Th• St Fur rekte5 w m5 Set bv tne TStr 10 be the St bkluJ)'5 Rtyoratty. urtb FabrK Re5totatth Fund sr M.$ Re5EoraFkn FJnJ WKthwt5 PyThd Sea Pund 6,152 66.072 71,431 5.207 14. 14.998 5ferOare MÉYnrYKII Fur 202 s Uknine Fut Py Fd Iong hlgrimtyè Fu 45 45 22.929 77.798 5.252 L8.641 Tutsl fw¥$ 184.868 43.8D Churth F4briC Réstorakn Fund." Irit(eterdt&8rwYtOttQ rtyiir a maer(e0f the Church bU11n4 st Molual's Funo.. Inc(X¥exweoto tothE re311 aj m91nian(e ol ihe St M(luag's lf5 fv.. Incthnean¢ reg ¢OtheTepaiT d the chuKh FuTrJ.' Rdète5 to and further wlreath cgmrnynity Aiiar NOrS Fwnd: Re to for the the prov ofAbi Sk%ierCkive Memthal Furf.. Relaie5tOa MnOe514ty1sW ttseytknethe ith (hrKn ihn)ugh poetrYd SpÈdal Rte5torrK¥5 ewded to ¥ec# Wr Llkvairn Fwfftd- Relate5tornm 5PXif¢aty ttsp r@wethesitLt kn UkJainÈ. Godw Pky Fund. test0 15 ewLbJ tothefknyy P tMkJiHrbhqe to I0. TTrnsfws dunng the fthertl to ftestr*ted Funts to Cymr dÈfKts Tri Re5trKtyJ Fuod5 èt yeai
St Peter's Episcopal Church: Stomoway Notes to the Accounts Year en 30 September 2024 Restrthd T(tsi 2024 To 2023 Fund 24.1S1 28,429 Oall9 Grfla Le5 WwMinq5 & Fwvals L¢e 3.231 4.735 5,262 28,592 28.59 50.805 62.236 4.73S 66.971 92.5Y S. MllliSteFlal le[e lirKn DKKe5e Grants Churth Fll 13.384 972 61929 65,829 1.036 1,036 p$t( 6$ 262 3,936 62.929 t5 fE(eNed In¥e51mEllt IntiXnÈ 10,937 li 597 692 692 10,809 T(Aal 2024 Toial 2023 1,814 Rttt(xy courtil tax YtÈr heatand I Rethry MNimtand re Retttsy IDrance 2,333 48,955 693 911 21080 2,877 48.955 941 22.08D 2.877 79.746 19.4 3.2 Cbur(h bU11q tosts Churth mainterwartd tg)è quikwi wryha5es W[hIp expen FknweF Fund 1.892 250 4.222 202 p(r4e. staiww rtisl web51teem5e5 OUr 1115. win l)¥r trJilyINS- Tunnno costs Tra4yJ and Sy extwse5 LKen5mq 25 25 13,489 1.630 4.839 1.579 L.630 4.839 273 2W 55 FUfidraThj costs 45 45 1.(67 Trtinmg c¢sts 8JnkCharges 87 243 105.250 77.7 183.Q48 SV.193
St Peter's Episcopal Church: Stornowav Notes to the Accounts Yegrwoed 30 •ter2024 2024 2023 EMTrinw5' reMln LEgalE fee5 486 1.576 sts1rtsad T(tsl 2024 Tijlal 2023 Fu1 Fund5 W•Jp5 IB14 28.264 9,607 The thp5wf%Yasas 2024 2023 npbyees recefftd Exce55dE60,0 10. Gr•Trts Rerdved rneral Re5trK Fu Fund5 T(al 2024 2023 DkKe5e. Re & R¥w4è1 Fund DKKeSe. Dun(rth DKKese. Grani Fjnd 972 62.929 62.929 62,929 65.829 11. SECUrrrt Popl The thurth trths 1022 Ihe SEC UntTrust Ptsy and tr(Kn th15 swrce we M ihe Iwrkied Funos AfurthEr 686yThits¥ecAwna by thèwillkim NEKezPTr[s¢ but ihe $ Daid ttsthe(hutth and In the Re5trKted Fu Dur¢ ihe Y[. thÈchurch ffla¢e 8xyk3cOIllS. ThethThds WEre pa thJrlt and are In ts t¢ts. Ftr wr¢¥)se5. theamrNJnts ette Tre3SfS'. Toral 2024 Total The Gambk Partfflh Lkni¢ef- Uktaine Mxmillèn orter sUpt Heart 16 1,276 629 swds 350 Ethe