;
SCOTTISH EPISCOPAL CHURCH DIOCESE OF BRECHIN
SAINT PALLADIUS & JOINT CHARGES, DRUMTOCHTY also known as SAINT PALLADIUS CHURCH, DRUMTOCHTY
SCOTTISH CHARITY NUMBER: SCOO5E88
ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 AUGUST 2025
PRINCIPAL OFFICE:
CHARITY TRUSTEES (Members of the Vestry)
Rector and Chairman Lay Representative Alternate Lay Representative Secretary and Treasurer
NDEPENDENT EXAMINER: a 1?
==> picture [30 x 6] intentionally omitted <==
----- Start of picture text -----
Aberdeen
----- End of picture text -----
CHURCH ADDRESS:
oy Aucnenblae
AB30 N
.
REPORTSEDNDT OFHe THETHE VESTRYVECTOV T @ membersnambare ofnt thetho Vestrysctny presentnracent theirtheairan annuala/ renortreport togethertacethe withjth thethe financialfinanci ciotamestatementsc farfor thethe Vaaryear endedanded 231 AugustAnioiiet 2025DO05
n terms of the Charities and Trustee Investment (Scotlend) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, the Vestry reports 4 StSt PalladiusDalladiue && JointJoint CharocesCharges, D eummentyvtocnty isi< aa registeredraqnictarand CentichScottisn CharityCharity (QCOOSEER)(SCO0SS68) C om m u n on All of its affairs are governed by the Vestn
APPOINTMENT OF VESTRY MEMBERS
OMVINISTRATIVE STRUCTURE tigate the risks identified OBJECTIVES AND ACTIVITIES 1 a caring fashion. To that 6nd public services of prayer and sacrament are held, Christian education is undertaken, the elderly are visited ACHIEVEMENTS AND PERFORMANCE
The financial report for the year is most satisfactory. All income streams are equal to and most slightly are increased on the previous year On the
RESERVES The est Nas acopted 4 policy of endeavouring to maintain a level of unresinctea reserves sumcient to be able to carry on ine current activities
Secretary
.
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS TO THE VESTRY OF ST PALLADIUS CHURCH DRUMTOCHTY rapFOR rutTHEveYEAR EFAINENENDED231 AUGUSTimlieT 9n9°82025
report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages 4 to 4
The Church's Vestry members are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee nvestment (Scotland) Act 2005 and Charities Accounts (Scotland) Regulations 2006. The Church's Vestry members consider thet the audit aquirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It s my responsibility to examine the accounts as required uncer Basis of independent examiner's statement ly examination is carri¢d out in accordance with Regulation of the Charities Accounts.(Scotland) Regulations 2006. An examination includes @ review of the accounting records Kept by the charity and a comparison of the accounts presented with those records. It also inciudes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning such maiters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion oF independent examiner's statement In the course of my examination, nemere™has COmete-my sttestss- otsertran diteiosad-bsloy_
Regulations, and
i
‘
SCOTTISH EPISCOPAL CHURCH DIOCESE OF BRECHIN
SAINT PALLADIUS & JOINT CHARGES, DRUMTOCHTY
RECEIPTS AND PAYMENTS ACCOUNT - 1 SEPTEMBER 2024 - 31 AUGUST 2025
| 2023/24 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Note | Unrestricied | Designated | Endowment | Total | £ | |||||
| INCOME | & | £ | £ | £ | ||||||
| Congregational | & Voluntary | 2 | 4,543.13 | 0.00 | 0.00 | 4,543.13 | 2,856.92 | |||
| Rent | 3 | 317,60 | 0,00 | 0.00 | 317.60 | 246.78 | ||||
| Investment | 4 | 0.00 | 24,822.27 | 0.00 | 24,822.27 | 20,183.77 | ||||
| Endowment | 5 | 0.00 | 0.00 | 2,572.02 | 2,572.02 | 2,091.39 | ||||
| 4,860.73 | 24,822.27 | 2,572.02 | 32,255.02 | 25,378.86 | ||||||
| EXPENDITURE | ||||||||||
| Cleray Cost | 6 | -7,394.29 | 24,822.27 | 2,572.02 | 20,000.00 | 78,000.00 | ||||
| Quota | ¥ | 600.00 | 0.00 | 0.00 | 600.00 | 342 00 | ||||
| Administration | § | 49 50 | 0.00 | 0.00 | 49.50 | 0.00 | ||||
| ~6,744.79 | 24 822.27 | 2,572.02 | 20,649.50 | 18,342 00 | ||||||
| SURPLUS FOR | YEAR (DEFICIT) | 11,605.52 | 0.00 | 0.00 | 11,605.52 | 7,036.86 | ||||
| STATEMENT | OF BALANCES | - 3ist | AUGUST 2025 | |||||||
| 2023/24 | ||||||||||
| Note | Unrestricted | Restricted | Endowment | Total | ||||||
| £ | £ | £ | £ | £ | ||||||
| CASH | ||||||||||
| Bank Balance at 31st August 2024 Surplus / Deficit for year Total cash funds at 31stAugust 2025 |
9 | 44,164.19 11,605.52 ___5§;769.71 |
10,012.08 0.00 10,012.05 |
0.00 0.00 0.00 |
54,176.24 14,605.52 65,781.76 |
43,755.60 10,410.44 54,176.24 |
||||
| INVESTMENTS | ||||||||||
| Market Value at | 31st August 2024 | 10 | 0.00 | 754,604 53 | 78,190.19 | 832,794.72 | 755,747.59 | |||
| Additions Disposals |
0.00 0.00 |
0.00 0.00 |
0.00 0.00 |
0.00 0,00 |
0.00 0.00 |
|||||
| Unrealised gain | / loss in year | 0.00 | 39,976.39 | 4,142.25 | 44,118.64 | 77,047.13 | ||||
| Market value at | 34 August 2025 | 0.00 | 794,580.92 | 82,332.44 | 876,913.36 | 832,794.72 | ||||
| FUND BALANCES | ||||||||||
| As at 31 August | 2024 | Cash | 44,164.19 | 10,012.05 | 0.00 | 54,176.24 | 43,765.80 | |||
| Investments | 0.00 | 784,604.53 | 78,190.19 | 832,794.72 | 755,747.59 | |||||
| Cash surplus / deficit for year | 11,605.52 | 0.00 | 0.00 | 11,605.52 | 10,410.44 | |||||
| Investment adaitions / disposals |
0.0 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| investments’ unrealised gain | / loss | 0.00 | 39,976.39 | 4,142.25 | 44,118.64 | 77,047.12 | ||||
| Transfers between funds | 0.00 | 0.00 | 0.00 | ___ 0.00 |
0.00 | |||||
| As at 31 August | 2025 | 55,769.71 | 804,592.97 | 82,332.44 | 942,695.12 | 886,970.96 | ||||
| - | ||||||||||
| n | c |
Page 4 of 6
.
‘
SCOTTISH EPISCOPAL CHURCH DIOCESE OF BRECHIN SAINT PALLADIUS & JOINT CHARGES, DRUMTOCHTY
NOTES ON ACCOUNTS - 31 AUGUST 2025
- ACCOUNTING POLICIES (a) investments held beneficially are stated at cost. Endowment investments granting rights to income only are excluded from the balance sheet.
(b) The accounts are prepared on a Receipts and Payments basis, therefore not including provision of income and expenditure due but not received or paid at the year end.including provision of Income and expenditure due but not received or paid at the year
(c) Unrestricted funds are divided into genera! and designated funds, use of the latter being governed by the Vestry. Restricted funds are funds subject to specific conditions imposed by the donor or related trust. Unrestricted funds are: Bank Current Account and Dunfermline Building Society Account. Restricted funds are: Rectory Fund, Stipend Fund and Endowment Fund
| 2024/25 | 2023/24 | |||
|---|---|---|---|---|
| 2. | CONGREGATIONALAND VOLUNTARY INCOME | |||
| Collections GiftAid (net) |
0.00 2,853.00 |
0,00 2,177.00 |
||
| Donations ‘IncomeTax recovered |
1,071.00 559.82 |
1,700.00 578.07 |
||
| Church Box | 59.31 | 8.00 | ||
| 3. | RENT | |||
| Annuat rentfrom Drumtocnhty Castile | 317.60 | 317.60 | ||
| 317.60 | 317.60 | |||
| 4 | INVESTMENT | 7 | ||
| 20445 unitsSEC UTP47D014 (Rectory Fund) | 24,822.27 | 21,813.57 | ||
| 24,822.27 | 21,813.51 | |||
| 5, | ENDOWMENT | |||
| 2598 units SEC UTP 48D014 | 2,572.02 | 2,260.26 | ||
| 2,572.02 | 2,260.26 | |||
| 6, | CLERGYCOST | |||
| Transfers to Joint Stipend Account | 20,000.00 | 78,000.00 | ||
| 7. | QUOTA | |||
| Provincial and Diocesan Quota | 600.00 | 444.00 | ||
| 600.00 | 444.00 | |||
| 8. | ADMINISTRATION |
|||
| Bank charges | 49.50 | 0.00 | ||
| 49.50 | 0.00 |
Page 5 of 6
s
==> picture [473 x 196] intentionally omitted <==
----- Start of picture text -----
0. CURRENT ASSETS (unrestricted funds) at 31 August 2025 2025 2024
Current Account 65,781.76 54,176.24
65,781.76 54,176.24
10. INVESTMENTS Book Value Market Value Unrealised Gain / Loss on year
a) Beneficial ownership 2025 2024 2025 2024 2025 2024
Restricted Funds
Rectory Fund
25073 units SEC UTP 47D014 251,430.00 251,430.00 794,580.92 754,604.53 39,976.39 69,813.26
Endowment Fund
2598 units SEC UTP 48D014 14,500.00 74,500.00 82,332.44 78,190.19 4,142.25 7,233.87
Totals 265,930.00 265,930.00 876,913.36 832,794.72 44,118.64 77,047.13
Unrealised
b) Statement of investment gains Book Value Market Value Gain
Rectory Fund, 25073 units SEC UTP 47D014 251,430.00 794,580.92 543,150.92
Endowment Fund, 2598 units SEC UTP 48D014 14,500.00 82,332.44 67,832.44
265,930.00 876,913.36 610,983.36
----- End of picture text -----
Page 6 of 6