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2024-09-30-accounts

St Mary's Cathedral, Glasgow open, inclusive, welcoming Cathedral Church of St Mary the Virgin, Glasgow Trustees, Annual Report and Accounts for the year ended 30 September 2024 Scottish charity number.. SC006225

Cathedral Church of St Mary the Virgin, Glasgow

Trustees' Annual Report and Accounts for the year ended 30 September 2024

Contents page
Trustees’ Annual Report 1
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Accounts 11

Cathedral Church of St Mary the Virgin, Glasgow Trustees’ Report for the year ended 30 September 2024

The Trustees present their Annual Report and Accounts for the year ended 30 September 2024. The Trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

Purpose and objectives

St Mary’s Cathedral, Glasgow is one of the most vibrant congregations of the Scottish Episcopal Church. It is established for exclusively charitable purposes, primarily for the advancement of religious and to provide public benefit. St Mary’s is widely known in the city and beyond for its aspiration to be a congregation which is “open, inclusive and welcoming”. Activities at the cathedral are facilitated by a small group of paid staff and by a community of volunteers who give time, expertise and money to enable the purpose of the charity. Thousands of hours of volunteering time are offered in this place each year.

The objectives set for the year were to

Achievements and performance

St Mary’s is a place where many diverse people meet. St Mary’s serves those who have an established religious faith and members of the community and is proud to be a place where encounters can happen that simply wouldn’t happen anywhere else.

During the course of this year a new service of Nigerian Style worship has been established under the auspices of the cathedral, which meets monthly in Shettleston. This congregation offers a vibrant and exciting pattern of worship and provides pastoral care and support to Nigerian members of the community in Glasgow. Conversations and negotiations are now taking place with a view to planting this congregation as a Private Chapel in its own right, within the Diocese of Glasgow and Galloway. Worship events provide a gathering place for Nigerians in Glasgow, particularly members of the Igbo Community and warm hospitality both during and after services is extended to everyone present. Non-Nigerians are particularly welcome to attend and enjoy a different style of Anglican worship to that which they may be most familiar with.

St Mary’s continues to welcome a number of people who are seeking asylum in this country and benefits from their presence.

During the year, the Vice Provost,

announced that he had accepted a call

to become the Rector of St Michael and All Saints Church in Edinburgh. A farewell Evensong allowed the congregation to express their warm appreciation of ministry at St Mary’s which began in November 2019. Particular thanks were paid for the role he played in enabling the congregation’s life during the global Covid pandemic of 2020.

1

Cathedral Church of St Mary the Virgin, Glasgow Trustees, Report for the year ended 30 September 2024 (continued) In addition to being a congregation in its own right, St Marfs is the cathedral church and consequently the gathering place for the Dioc8s8 of Glasgow and Galloway. This yoar saw on8 ordination and also the farewoll saNice for the Bishop who has now retired. Musical and liturgical excellence continue to draw people into the life of the cathedral. The choir and cathedral musicians work hard week by week and their ministry of music continues to inspire those who hear them. Passing on the musical tradition is a key element to what is done hare and the Junior Choir and the Bemard Porter Organ Scholarship are both ways in which this happens. During the course of the year, considerable progress has been made with regard to replacing the organ at the cathedral with a suitable instrument. The Vestry accepted with much gratitude the gift of a redundant Willis organ from St Andrew's, the Roman Catholic Cathedral in Glasgow. This gift was a great ecumenical gesture in city that is often troubled by sectarianism. Work is now undenNay to raise the money needed to rèstore this organ and install it in the cathedral. Canonical permission has now been given by the Diocese of Glasgow and Galloway for this project. A further generous gift was received during the year in the form of a very fine Steinway and Sons piano. This an anonymous gift from a member of the congregation will enhance the music for many years to come. Pastoral work continues and as with most aspects of the work of the cathedral is conducted both by lay volunteers and by members of the clergy. The Provost remains an Honorary Chaplain of the University of Glasgow and the Congregation Continues to attract a number of people involved in the academic life of the city. Two events have been held called "A Rough Guide to St Mary's Cathedral" which have included opportunities to èngagé with membèrs of the clèrgy and a behind thé stenès tour of thè congregation. The building is in use every day and participated in Open Doors Week in Septernber. The cathedral provides spaco for local musicians to rehearse almost every week of the year. Various groups continue to function including the 20s and 30s Bible Study and an active Book Group and Young Church and Junior Choir provide activities for Young People. The Festivals of Christmas and Easter drew people from across thè city into the building and a number of pilgrimage groups from across the Atlantic visitèd St Mary's on thèir way to or from lona. It has been a busy year in the bell-tower and the Guild of Bellringers continue to teach local people the art of change ringing and the sound of the bells can regularly be heard in the vicinity of the cathedral. Members of the guild contribute to the activities of the Scottish Association of Change Ringers and help to look aftèr the bÈll-towÈr at Inverary as wèll a5 ringing Èath week in Glasgow. Members of the Vestry have met regularly to conduct the business of the congregation and have been pleased to have input on safeguarding from the Safeguarding Officer, Matt Cavanagh. The BBC continue to use St Mary'5 as a venue for live broadcasting and a service wa5 broadcast on Radio 4 in June.

Cathedral Church of St Mary the Virgin, Glasgow Trustees’ Report for the year ended 30 September 2024 (continued)

A busy hustings event for local people took place in the cathedral in connection with the General Election. A local community art group uses the building each Friday and hosted an exhibition in the cathedral during the year.

Financial review

In the year to 30 September 2024, before taking account of gains on investments, expenditure exceeded income by £21,716 (2023: surplus of £252,224). Income in 2023 included a donation in support of the organ replacement/refurbishment project of £260,000. Excluding income and expenditure on the organ project, expenditure exceeded income in both years, as has been the pattern recently.

Total income from donations and legacies amounted to £310,467 (2023: £513,545). Excluding donations to the organ project, the underlying amount is broadly in line with the prior year. Income of £24,624 (2023: £29,379) was generated from uses of the Cathedral buildings during the year and this helps to offset some of the buildings-related costs.

Total expenditure in the year was £408,570 compared with £327,212 in the prior year. Staff costs account for around half of total expenditure with the costs of operating and maintaining the buildings accounting for a significant proportion of the balance. Energy costs were £40,860 compared with £19,673 in the prior year, due to significantly higher energy prices taking effect as previous contracts ended.

Investments increased in value by £76,382 during the year (2023: £25,889) and the net movement in Funds was an increase of £54,666 (2023: £278,113).

The Trustees recognise that annual income must cover annual expenditure to sustain the work of the Cathedral. Thoughtful giving by members, appropriate to their circumstances, is vitally important in the face of general inflationary pressures and significant increases in energy and other costs.

The book value of the Cathedral’s assets less liabilities at 30 September 2024 was £1,988,899 (2023: £1,934,233).

Reserves policy

The Cathedral holds reserves to provide principally for the restoration and renovation of the cathedral church buildings; to contribute to a future purchase of a rectory should that be required; and to support continuity in the Cathedral’s work.

Excluding the amount attributable to freehold property used directly in the Cathedral’s activities, unrestricted funds at 30 September 2024 were £1,223,190 (2023: £1,181,501).

Of that amount:

The Trustees currently view the £380,000 held in an investment residential property as a resource which would be realised for the purchase of a rectory.

At the end of the year, the balance in the Music Endowment Fund was £94,579 (2023: £81,602).

3

Cathedral Church of St Mary the Virgin, Glasgow Trustees’ Report for the year ended 30 September 2024 (continued)

Structure, governance and management

Structure and governing document

The Cathedral is an unincorporated association, established for exclusively charitable purposes, primarily for the advancement of religion and to provide public benefit. Its governing document is its Constitution. The last major revision of the Constitution was in 2010 with a more minor revision in 2017. The Cathedral is a charge of the Scottish Episcopal Church, and its clergy, congregation and officials are subject to the Canons of that Church.

Recruitment and appointment of trustees

Members of the Cathedral Vestry are the charity trustees. The Vestry comprises:

the Provost (ex-officio);

the Vice-Provost (ex-officio);

Constituent voting members are nominated and elected by members of the congregation and serve for a threeyear term. A constituent voting member who has served for two consecutive three-year terms is ineligible for election in the following year. The Vestry may fill casual vacancies arising during the year and has powers to appoint up to two members from the wider diocese.

The Vestry has four working groups (Leadership, Compliance, Finance and Property) which deal with specific areas of activity. Each group is chaired by a trustee and may include non-trustee members to ensure necessary expertise. All groups report to each Vestry meeting and present major matters of policy and expenditure to the Trustees for decision.

PVG/Safeguarding policies

All clergy and laity involved in regulated work with vulnerable adults and children and young people have successfully been through the PVG process at St Mary’s. The SEC Safeguarding Policies and Procedures are followed and the safe recruitment and management of volunteers and staff is given all due care. The Cathedral PVG coordinator reports in person to Vestry at least annually and attends additional Vestry meetings as required.

The PVG Coordinator is appointed to take responsibility on behalf of the Vestry for ensuring that the work of the Church is carried out in accordance with the law and the Church’s policies on the Protection of Children and Vulnerable Adults. These policies focus on prevention and safeguarding by ensuring that anybody appointed or volunteering to do regulated work with children or vulnerable adults has their details submitted to Disclosure Scotland who check for any relevant criminal convictions. Regulated work could include teaching/supervising Young Church or providing some kind of regular welfare service to people with particular needs as members of the Contact Group. All clergy involved in regulated work have gone through the PVG process before taking on their duties.

At the beginning of each year, the PVG Coordinator submits a Protection Checklist to the Diocese of Glasgow & Galloway to confirm that we are implementing the PVG process correctly, including ensuring everyone involved in regulated work has the correct level of PVG clearance.

The SEC website reminds us “it is important to remember that it is everyone’s responsibility to protect the vulnerable and everyone working in and attending services in the SEC has an important part to play in

4

Cathedral Church of St Mary the Virgin, Glasgow Trustees’ Report for the year ended 30 September 2024 (continued)

developing a safe and supportive culture within the Church that protects everyone, regardless of the nature of their vulnerability”. If any member of the congregation has concerns about possible incidents involving children or vulnerable adults, they should notify the PVG Coordinator. If the Coordinator is not available and there is somebody at immediate risk, the police or local social work department should be contacted. Further guidance about SEC policies and procedures can be found at http://www.scotland.anglican.org/whowe-are/organisation/safeguarding/

Matt Cavanagh remains in post as PVG / Safeguarding Officer. Over the past year Matt has attended training provided and supported the work of the cathedral when safeguarding advice has been sought.

Reference and administrative details

Registered name : Cathedral Church of Saint Mary the Virgin, Glasgow (St Mary's Cathedral, Glasgow)

Registration number : Scottish charity number: SC006225

Address : St Mary's Cathedral, 300 Great Western Road, Glasgow G4 9JB

Website : thecathedral.org.uk

Trustees

On 24 November 2024, was co-opted.

resigned, and was elected. On 29 December 2024,

Bankers:

Clydesdale Bank plc (t/a Virgin Money) 2-4 Royal Exchange Square Glasgow G1 3AB

5

Cathedral Church of St Mary the Virgin, Glasgow Trustees’ Report for the year ended 30 September 2024 (continued)

Solicitors:

Mitchells Roberton George House 36 North Hanover Street Glasgow G1 2AD

Approved by the Trustees on 29 December 2024 and signed on their behalf by

6

Report of the Independent Examiner to The Trustees of the Cathedral Church of St Mary the Virgin. Glasgow report on the account5 for the year ended 30 September 2024 comprising= the Statement of Financial Activities,. the Balance Sheet,. the Statement of Cash Flows,. and notes I to 18. The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts1Scotlandl Regulations 2006. The charity's trustees consider that the audit requirement of Regulation Iollllal to Icl of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44llllcl of the Art and to state whether particular matters have come to rny attention. Basi5 of the independent examiner's report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotlandl Regulations 2￿)6. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with thosg records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undèrtaken do not provide all the èvidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the account5. Independent examiner'5 statement In connection with my examination, no matter has come to my attention= 111 which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 44llllal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations,. and to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2CQ6 Accounts Regulations have not bean met,. or 121 to which, in my opinion, attention should be drawn in order to ènable a proper understanding of the accounts to be reached. Chartered Accountant Bell Barr & Company Chartered Accountants 2 Stewart Street Milngavie Glasgow G62 6BW IOJanuary 2025

Cathedral Church of St Mary the Virgin, Glasgow

Statement of Financial Activities for the year ended 30 September 2024

notes
INCOME AND ENDOWMENTS
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
EXPENDITURE
Charitable activities
7
Raising funds
8
Total expenditure
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
14, 15		 Unrestricted
Funds
£
309,792
1,117
38,488
34,129
383,526
392,831
13,086
405,917
64,080
41,689
41,689
1,852,631
1,894,320		 Music
Endowment
Fund
£
675
-
-
2,653
3,328
2,653
-
2,653
12,302
12,977
12,977
81,602
94,579		 2024
Total
Funds
£
310,467
1,117
38,488
36,782
386,854
395,484
13,086
408,570
76,382
54,666
54,666
1,934,233
1,988,899		 2023
Total
Funds
£
513,545
1,505
32,367
32,019
579,436
319,971
7,241
327,212
25,889
278,113
278,113
1,656,120
1,934,233

The accompanying Notes 1 – 18 are an integral part of the Statement of Financial Activities for the year ended 30 September 2024.

8

Cathedral Church of St Mary the Virgin, Glasgow

Balance Sheet at 30 September 2024

notes
FIXED ASSETS
Tangible assets
Freehold property
9
Investments
Listed investments
10
Investment property
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
General Fund
Designated funds
15
Restricted fund
Music Endowment Fund
TOTAL FUNDS
14, 15		 2024
£
671,130
577,686
380,000
1,628,816
8,677
361,938
370,615
(10,532)
360,083
1,988,899
1,988,899
1,124,226
770,094
1,894,320
94,579
1,988,899		 2023
£
671,130
501,304
380,000
1,552,434
3,266
389,261
392,527
(10,728)
381,799
1,934,233
1,934,233
1,124,356
728,275
1,852,631
81,602
1,934,233

Approved by the Trustees on 29 December 2024 and signed on their behalf by

The accompanying Notes 1 – 18 are an integral part of the Balance Sheet at 30 September 2024.

9

Cathedral Church of St Mary the Virgin, Glasgow

Statement of Cash Flows for the year ended 30 September 2024

Cash flows from operating activities
Net income/(expenditure) for the year
Adjustments for:
(Gains)/losses on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash flows from operating activities
Net movement in cash
Cash at beginning of the year
Cash at end of the year
Cash at bank and in hand		 2024
£
54,666
(76,382)
(5,411)
(196)
(27,323)
(27,323)
389,261
361,938
361,938		 2023
£
278,113
(25,889)
3,756
5,813
261,793
261,793
127,468
389,261
389,261

The accompanying Notes 1 – 18 are an integral part of the Statement of Cash Flows for the year ended 30 September 2024.

10

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts

30 September 2024

1 BASIS OF PREPARATION

Basis of preparation of the accounts

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The Trustees have reviewed the charity's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the charity is a going concern.

2 ACCOUNTING POLICIES

The accounting policies applied in preparing the accounts are set out below.

Income

Income is recognised in the Statement of Financial Activities when the charity is entitled to the income, it is probable that the income will be received, and the amount can be measured reliably.

Congregational giving and donations are accounted for when received. Legacies and similar income are recognised at fair value when the executor is satisfied that the gift will not be required to meet claims on the estate and any conditions attaching to the legacy have been met or are within the control of the charity.

Expenditure

Liabilities are recognised as expenditure when there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Heritable properties are shown at cost. Depreciation is not provided on heritable properties as, in the opinion of the Trustees, due to the long useful economic lives of heritable properties and their high residual values, any depreciation charge and resultant accumulated depreciation are immaterial. In the opinion of the Trustees, no impairment of the carrying values has occurred during the year.

11

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

2 ACCOUNTING POLICIES (continued)

Fixed asset investments

Investments are shown at fair value and both realised and unrealised gains and losses are included in the Statement of Financial Activities.

Investment property

Investment property is shown at the most recent valuation. Any surplus or deficit arising from changes in fair value is included in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity enrols staff in a defined contribution pension scheme in accordance with legislation. For certain employees, the charity contributes to the Scottish Episcopal Church Pension Fund at rates set by the scheme Actuary and advised to the Church by the Scheme Administrator. In both cases the pension cost charges represent the contributions payable by the charity to the schemes concerned.

Cash at bank

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3 DONATIONS AND LEGACIES

Donations and cash collections
Legacy
Gift Aid
Diocesan grants
Other grants		 2024
£
216,113
4,376
47,363
24,662
17,953
310,467		 2023
£
429,609
10,000
37,501
25,404
11,031
513,545

12

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

4
CHARITABLE ACTIVITIES
Grant
5
OTHER TRADING ACTIVITIES
Letting of non-investment property
Other trading income
6
INVESTMENT INCOME
Listed investments and bank interest
Rental of investment property		 2024
£
1,117
1,117
2024
£
24,624
13,864
38,488
2024
£
21,345
15,437
36,782		 2023
£
1,505
1,505
2023
£
29,379
2,988
32,367
2023
£
16,365
15,654
32,019

13

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

7 EXPENDITURE ON CHARITABLE ACTIVITIES

note
Staff costs
16
Direct costs
Diocesan quota
Insurance
Energy
Water and drainage
Telecoms services
Repairs and maintenance
Cleaning, waste disposal and pest control
Equipment purchases and maintenance
Worship, ministry and pastoral
Copying, printing and stationery
Clergy property
Other
Support costs
Professional fees
Support costs include governance costs of £3,560 (2023: £4,800).
8
EXPENDITURE ON RAISING FUNDS
Investment property letting and maintenance
Other fundraising costs		 2024
£
179,675
38,260
27,335
40,860
2,816
1,463
6,155
11,735
49,245
16,498
5,847
6,481
5,554
3,560
395,484
2024
£
5,312
7,774
13,086		 2023
£
169,266
35,163
24,374
19,673
2,152
1,317
5,166
12,247
16,139
11,604
5,048
7,598
5,424
4,800
319,971
2023
£
5,373
1,868
7,241

14

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

9
FREEHOLD PROPERTY
Cost
At 1 October 2022, 1 October 2023 and 30 September 2024
Net book value
At 1 October 2022, 1 October 2023 and 30 September 2024		 £
671,130
671,130

Freehold Property does not include the Cathedral building and Synod Hall. These buildings are occupied and maintained by the congregation but ultimate title rests with the Diocese of Glasgow and Galloway.

10
LISTED INVESTMENTS
Market value
At 1 October 2022
Revaluations
At 1 October 2023
Revaluations
At 30 September 2024		 £
475,415
25,889
501,304
76,382
577,686

The investments are held in the Scottish Episcopal Church Unit Trust Pool. The Unit Trust Pool was established by the Provincial Investment Committee to bring together the disparate investments of the various funds of the General Synod, Dioceses, and individual congregations of the Church to enable them to be managed professionally. The Unit Trust Pool is, therefore, solely an investment vehicle of the Scottish Episcopal Church.

11 INVESTMENT PROPERTY

Valuation
At 1 October 2022, 1 October 2023 and 30 September 2024
12
DEBTORS
Other debtors		 2024
£
8,677
8,677		 £
380,000
2023
£
3,266
3,266

15

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals and deferred income
14
ANALYSIS OF ASSETS AND LIABILITIES
Analysis at 30 September
2024
Freehold property
Fixed asset investments
Investment property
Current assets
Current liabilities
At 30 September 2024
Analysis at 30 September 2023
Freehold property
Fixed asset investments
Investment property
Current assets
Current liabilities
At 30 September 2023		 BY CLASS OF FUND
Unrestricted
Funds
£
671,130
484,644
380,000
369,078
(10,532)
1,894,320
Unrestricted
Funds
£
671,130
420,564
380,000
391,665
(10,728)
1,852,631		 2024
£
860
9,672
10,532
Music
Endowment
Fund
£
-
93,042
-
1,537
-
94,579
Music
Endowment
Fund
£
-
80,740
-
862
-
81,602		 2023
£
1,059
9,669
10,728
Total
£
671,130
577,686
380,000
370,615
(10,532)
1,988,899
Total
£
671,130
501,304
380,000
392,527
(10,728)
1,934,233

16

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

15

ANALYSIS OF MOVEMENTS IN FUNDS

General
Restoration
Organ
Music
Vestments
Total unrestricted
Music Endowment Fund
Total Funds
General
Restoration
Organ
Music
Vestments
Total unrestricted
Music Endowment Fund
Total Funds		 Balance at
1 October
2023
£
1,124,356
370,185
340,462
7,574
10,054
1,852,631
81,602
1,934,233
Balance at
1 October
2022
£
1,145,824
339,075
76,149
8,574
9,740
1,579,362
76,758
1,656,120		 Income
£
294,600
26,634
60,709
1,583
-
383,526
3,328
386,854
Income
£
276,746
32,207
265,251
1,788
314
576,306
3,130
579,436		 Expenditure
£
(358,810)
-
(40,879)
(2,171)
(4,057)
(405,917)
(2,653)
(408,570)
Expenditure
£
(319,933)
(1,097)
(938)
(2,788)
-
(324,756)
(2,456)
**(327,212) **		 Gains
and (losses)
£
64,080
-
-
-
-
64,080
12,302
76,382
Gains
and (losses)
£
21,719
-
-
-
-
21,719
4,170
25,889		 Balance at
30 September
2024
£
1,124,226
396,819
360,292
6,986
5,997
1,894,320
94,579
1,988,899
Balance at
30 September
2023
£
1,124,356
370,185
340,462
7,574
10,054
1,852,631
81,602
1,934,233

Unrestricted funds are available for use at the Trustees’ discretion in furtherance of the Cathedral's objectives. Designated funds are unrestricted funds that have been allocated for a specific purpose by the Trustees. The Cathedral has four designated funds and one restricted fund.

Unrestricted Funds

Unrestricted funds comprise a general fund of £1,124,226 (2023: £1,124,356) and amounts which have been designated for: renovation and restoration of the Cathedral church and properties, £396,819 (2023: £370,185); organ replacement/refurbishment £360,292 (2023: £340,462); choir and music £6,986 (2023: £7,574); and vestments £5,997 (2023: £10,054).

Restricted Fund

Music Endowment Fund

A restricted fund established to promote an ethos of cathedral music by supporting the employment of assistants to the Director of Music.

17

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

16 EMPLOYEE INFORMATION

(a) Staff costs

Wages and salaries
Social security costs
Pension contributions		 2024
£
144,600
8,783
26,292
179,675		 2023
£
136,544
7,651
25,071
169,266

The total amount of employee benefits received by trustees was £109,153 (2023: £104,305). No employee received remuneration of more than £60,000.

The Scottish Episcopal Church operates a non-contributory defined benefit pension scheme for all stipendiary clergy. Pension contributions are paid to that scheme in respect of clergy at the rate determined by the scheme actuary. As no information is available regarding the assets and liabilities of the fund relating to individual members, contributions are accounted for as if the scheme was a defined contribution plan. Other employees are enrolled into defined contribution pension plans in accordance with legislation.

(b) Employee numbers

The average number of employees during the year was

Employee numbers
The average number of employees during the year was
Clergy
Musicians
Administrative support		 2024
2
2
1
5		 2023
2
2
1
5

17 RELATED PARTY TRANSACTIONS

(a) Trustee remuneration and benefits

The Trustees received no remuneration or other benefits (2023: £nil) in respect of their trusteeships. The Provost and the Vice-Provost are ex-officio trustees and received remuneration and reimbursement of expenses as stipendiary clerics of the Scottish Episcopal Church. Remuneration and pension contributions were paid as follows:

2024 2023
£ £
Remuneration 56,223 53,551
Pension contributions to defined benefit scheme 11,999 11,056
Remuneration 31,386 30,091
Pension contributions to defined benefit scheme 9,545 9,607

The Cathedral provides living accommodation for the Vice-Provost and incurred costs of £3,104 (2023: £4,322) in respect of maintenance and other landlord expenses.

18

Cathedral Church of St Mary the Virgin, Glasgow

Notes to the Accounts (continued) 30 September 2024

17 RELATED PARTY TRANSACTIONS (continued)

(b) Trustee expenses

Trustee expenses of £68 (2023: £243) were paid for one trustee (2023: two trustees) in respect of travel costs. In 2023, the amount also included subsistence costs.

(c) Other transactions with related parties

The Cathedral made quota payments to the Diocese of Glasgow and Galloway amounting to £38,260 (2023: £35,163). It received grants from the Diocese of Glasgow and Galloway totalling £24,662 (2023: £25,404). The Trustees are members of the Cathedral congregation and, like other members, make donations to support the work of the Cathedral.

18 REMUNERATION OF INDEPENDENT EXAMINER/AUDITOR

Independent examination (2023: Audit) 2024
£
1,080		 2023
£
4,800

19