Scottish Charity No $C007457
ST PAUL'S EPISCOPAL CHURCH, KINROSS
Annual Report and Accounts for the year ended 30 September 2025
ST PAUL'S EPISCOPAL CHURCH, KINROSS
Annual Report and Accounts for the year ended 30 September 2025
| Contents | Page | |
|---|---|---|
| Reference and administrative information | 1 | |
| Vestry Report | 2 | |
| Independent Examiner's report | 6 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| NotestotheAccounts | 8 |
ST PAUL'S EPISCOPAL CHURCH, KINROSS
Reference and administrative information Charity name and address St Paul's Episcopal Church 53 Muirs Kinross KY13 BAU Scottish Charity Number $C007457 Charity Trustees Members of the Vestry & Officers Bankers ; Bank of Scotland i a Solicitors Andersons, LLP 40 High Street Kinross KY13 8AN
Page 1
Report of the Vestry ( Trustees’ report ) Year ended 30 September 2025
As the Charity Trustees of St Paul's Episcopal Church, the Vestry presents its report and accounts for the year ended 30 September 2025. These have been prepared in accordance with the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities (March 2005 ).
Structure, governance and management
The Church is an unincorporated association, governed by its Constitution dated 23 January 1983. For the purposes of charities law, members of the Vestry are the Charity Trustees of the Church. The Church is a member congregation of the Diocese of St Andrews, Dunkeld and Dunblane in the Scottish Episcopal Church. The Bishop of St Andrews, Dunkeld and Dunblane has pastoral oversight of all congregations within the diocese and all congregations are subject to the Canon Law of the Scottish Episcopal Church. The members of the Vestry normally hold office for four years and are elected at an Annual Church Meeting. The Lay Representative who represents the church at Diocesan Synod is elected annually by the lay members of the congregation at the Annual Church Meeting. The People's Warden is elected by the congregation at the Annual Church Meeting and holds office for five years. The Vestry Secretary and Treasurer are appointed by the Vestry. The Vestry has delegated specific powers to its three sub-committees: Finance, Property and Mission. These sub-committees report to and submit recommendations to the Vestry. The Interim Pastor is appointed by the Bishop of the diocese.
Day to day management is delegated to the ministry team with the Vestry authorising policy relating to temporal affairs and appointing staff. The Interim Pastor is responsible for the spiritual affairs of the Church and delegates aspects of the Church's operations to the lay team.
The Vestry reviews on a regular basis the major risks to which the Church is exposed and systems or procedures have been established to manage those risks.
Objectives and activities
The objectives of the Vestry are to advance the mission of the Christian Church, through worship, service and fellowship. These objectives are carried out through mission and pastoral activities. The principal activities of the Church are public worship and the spiritual development of its members.
Donations are made regularly to charitable causes that provide benefits to disadvantaged people and organisations in Scotland, the rest of the United Kingdom and overseas. In carrying out its objectives, the Vestry depends upon the contribution, both human and material, of many volunteers from the congregation. Activities carried out include contributions preparatory to and during worship, service on sub-committees and through group activities, the maintenance of premises and fabric, and a variety of pastoral and social activities. These contributions are all highly valued and members of the congregation are encouraged to participate in them.
Reserves Policy
The Vestry's reserves policy is to maintain reserves in cash sufficient to meet three months normal operating costs and any other committed expenditure. The unrestricted cash balances held at 30 September 2025 were £24,170.
Investment Policy
All of our investments have been converted to cash at the present.
Results
The General Fund produced a loss of £1,494 together with the loss in the income and expenditure account of £1,494 for the year.
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Statement of Responsibilities of Members of Vestry
Charities Law requires the persons concerned in the management or control of every recognised body to prepare accounts for each financial year which give a true and fair view of its state of affairs and of its results for that period. In preparing those financial statements the members of the Vestry are required to :
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Select suitable accounting policies and then apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Church will continue in operation.
The members of the Vestry are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Church and to enable to ensure that the financial statements comply with the relevant legislation. The members of the Vestry are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
As part of this process the Vestry met on a number of occasions at specially convened meetings to discuss key issues and also consulted throughout the membership of the church community.
St Paul's Fabric
Apart from routine maintenance some pointing has been done and there is more of that to do. The Chancel arch needs repainting. The tower has been repointed. Repairs to the old hut have been completed
The Quinquennial is due which may well show more work needs to be done. The Rectory has been redecorated and improved andis to be let.
St Paul's and the Community
The Meeting Room is well established as a focal point to link the congregation with the local community, including an AA group. Members have worked hard to set up an arts group for exhibitions in the room which has proved successful.
We have an established Foodbank in the Old Hall, with the aid of Broke not Broken, a local charity which is working very hard due to the cost of living crisis.
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Achievements and Performance
Report of vestry chairtoOSCR and ACM 2025
| finished my report last year by referring to how hard the vestry had had to work in that year. If anything they have had to do even more this year. At our first meeting of the year | proposed two objectives for the year, that by the end of it we should have a settled basis for future ministry and that we should havea plan for the refurbishment of the church building in place to be ready for fund raising. We are well on with the first, and have made a start with the second. Preliminary meetings with the Dollar vestry had already taken place before the start of the year to discuss the possibility of linking with them to share the costs of a rector. This proposal received the encouragement of the Bishop, including financial encouragement, and the proposal was put to a special congregational meeting on 25th May. The proposal to link was unanimously approved by that meeting. Since then a lot of work has been done to prepare for the situation. Dollar have a rectory which needed to be put in order for the joint priest-in-charge (which is what the joint “rector” will technically be) to live in. At the time of writing they have received grant approval to help with the cost of some of the work and they anticipate work will begin before Christmas. We have a rectory which needed to be put in good decorative order to be attractive to potential tenants. That work has been done at a cost approaching £17,000 and the house is about to be advertised for let. | hope to be able to say that we have found a tenant by the time of the ACM. In parallel with the property work we have been working on the necessary preliminaries for advertising jointly for our priest -incharge. These include the drafting of an agreement between us and Dollar, profiles of each charge anda profile of the approvalperson we towould ei like to see in apost. All of these have| haveto been be approved our nomineesby the onbishop the Jointand Liaisondean. We committee formed are waiting for that with three representatives from Dollar to carry on the discussion. That committee will continue to liaise on behalf of the two vestries with the priest-in-charge after being appointed. The preparation of an advertisement for the post and the conduct of the procedure for choosing a candidate to recommend to the vestries will be in the hands of a Joint Vacancy Committee. Our stagesrepresentativesand the onbishop thatwillvital chair committeethe meetings 2 with candidates.ae| nope that the placing Theof diocese advertisements will also bewill involvedtake placeat earlyall in the New Year, in which case we are unlikely to have someone in place before early June. Getting the right person is crucial for everybody. justIn thethe meantimehour or so weof area service enormouslyon Sunday gratefulmorning.aThere is andan immenseEB amount0° covering usof preparation duringto thisbe done, interregnum.the sermonIt is notof course, but alot more including choosing the hymns, and setting up their music on the computer, preparing pew sheets, and taking communion to those unable to get to church, And we have been well served by those other priests who have helped out on the rare occasions when neither{EEEas been available. We have made a start on the church refurbishment. The pointing on the outside of the tower has at last been completed. A jot of what had been done before used inappropriate cement. That has been replaced. The inside of the tower appears to be drier as a result but that may just be the dry summer. We have had an engineer inspect the stability of the tower, in particular the iron work, as recommended in the last quinquennial report. The work recommended in that report will be included in the refurbishment works. We have instructed an architect to draw up preliminary plans for re-ordering the inside of the church which will form the central part of the refurbishment. The purpose of that re-ordering is to introduce more flexibility into the lay out of the main body of the building. That means having moveable seating and that in turn necessitates the levelling of the floor. Into that can be incorporated an underfloor heating system and insulation, which should make the place warmer. The architect is keen to replace the overhead heating with modern and more effective heaters. The other structural matter is to tidy up and make draught proof the entrance into the bottom of the tower. | have gone into this in some detail as the vestry would welcome ideas as to how we can improve the building for the twenty first century over and beyond what we already have in mind. This is a once in a generation opportunity to put together a large scale scheme to put forward to potential funders.
To finish off the property section of this report | should mention the old hall. We have arranged for the replacement of rotten woodwork (and are waiting for the bill!) and our tenant has painted the outside. BnB are also going to paint the inside. We shall have to paint and carpet the office for the priest in charge. We are due to have a quinquennial report but have held off until completion of the work in the rectory.
it has been an active year, but also good from the cash point of view. This is not only the result of our having spent thirty five percent less than last year, expenditure on the rectory notwithstanding, but also the result of the cash coming in having increased by some twenty percent. There was an increase in receipts from the new hall again but also an increase in the various forms of giving from you, the congregation; so well done and thank you. But the good work must be kept up. As | said at the special meeting in May, the contribution from the diocese anc sharing of the expense of the priest-in-charge is not an opportunity for a giving holiday. It is an opportunity for us to get back on our financial feet which we must not pass up. My thanks to my colleagues on the vestry for all their hard work during the year and ii. The next year is going to be hard work too, but an exciting one with new beginnings to look forward to. M.GS.S. 21/10/2025.
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Independent Examiner's Report to the Vestry of St Paul's
Episcopal Church, Kinross
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- | report on the accounts of the charity for the year ended 30 September 2025 which are set out on the following pages.
Respective responsibitities 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. The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. Ii 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 Charities Accounts ( Scotland ) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these 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 | 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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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
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have notbeen 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. ae
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| St Paul's Episcopal Church,Kinross | St Paul's Episcopal Church,Kinross | St Paul's Episcopal Church,Kinross | St Paul's Episcopal Church,Kinross | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Statement of Financial Activities for the yearended 30 Septemb | ber2025 | ||||||||||
| Unrestricted | Funds | Restricted | Funds | ||||||||
| General | Designated | NewHall | Property | Flower | Stipend | Re-order | Total | Total | |||
| Notes | Fund £ |
Funds £ |
Fund £ |
Fund £ |
Fund £ |
Fund £ |
Fund £ |
2025 £ |
2024 £ |
||
| Incoming Resources | |||||||||||
| Incoming Resources from | |||||||||||
| generated funds | |||||||||||
| Voluntary income | |||||||||||
| Congregational giving | 39,154 | 39,154 | 34,462 | ||||||||
| Donations New Hall | 4,460 | 4,460 | 3,755 | ||||||||
| Fees | 2,110 | 2,110 | 2,010 | ||||||||
| Activities for generating funds | |||||||||||
| Fundraising | 2 | 2 | 97 | ||||||||
| Grants | 4,300 | 4,300 | 7,326 | ||||||||
| Investment income portfolio. | 66 | 66 | 1,059 | ||||||||
| Deposit A/C interest | 294 | 294 | : | ||||||||
| 50,386 | 50,386 | 48,709 | |||||||||
| Resources Expended | |||||||||||
| Net Clergy and ministry costs | 19,510 | 19,510 | 56,335 | ||||||||
| Worshipcosts | 129 | 129 | 254 | ||||||||
| Mission and education costs | 846 | 848 | 90 | ||||||||
| Fabric costs | 25,394 | 25,394 | 6,668 | ||||||||
| Quota | 5,999 | 5,999 | 5,340 | ||||||||
| Governance costs | : | : | 325 | ||||||||
| Total Resources Expended | 51,880 | 51,880 | 69,012 | ||||||||
| Net Incoming(Outgaing) | |||||||||||
| Resources before Transfers | (1,494) | (20,303) | |||||||||
| Transfers between funds | 8,695 | (8,695) | - | - | |||||||
| Unrealised profit on valuation | - | - | 1,010 | ||||||||
| Net Movement in Funds | (1,494) | 8,695 | - | - | : | : | (8,695) | (1,494) | (19,293) | ||
| Fund Balances at 30September 2024 | 23,866 | 5.640 | 171,421 | 246,441 | 475 | - | 8,695 | 456538 | 475,831 | ||
| Fund Balancesat30September2025 | agg 22,372 |
14,335 | etea 171,421 246,441 |
iii 475 |
i | = | Se = |
455.044 | 456,538 |
Page 6
St Paul's Episcopal Church, Kinross Balance Sheet as at 30 September 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed Assets( note 5) | |||||
| Heritable Properties at book | value | 413,618 | 413,618 | ||
| Investments at market value | : | ||||
| 413,618 | 413,618 | ||||
| Current Assets | |||||
| Debtors ( note 6) | 5,731 | §,214 | |||
| BankAccounts | 44,464 | 16,435 | |||
| Rathbones Savings | - | 21,471 | |||
| 50,195 | 43,120 | ||||
| Creditors: amounts falling | due | ||||
| within one year | |||||
| Creditors ( note 7) | 8,769 | 200 | |||
| Net Current Assets | 41,426 | 42,920 | |||
| TOTAL ASSETS | LESS LIABILITIES | 455.044 | 456,538 | ||
| Represented by | : | ||||
| Unrestricted Funds: | |||||
| General Fund | 22,372 | 23,866 | |||
| Restoration fund | 14,335 | 5,640 | |||
| 36,707 | 29,506 | ||||
| Restricted Funds | |||||
| Stipend Fund | ‘ | - | |||
| Hall Fund | 171,421 | 171,421 | |||
| Property Fund | 246,441 | 246,441 | |||
| Reorder Fund | - | 8,695 | |||
| Flower Fund | 475 | 475 | |||
| TOTALFUNDS( | Note9) | 455,044 | 456,538 |
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St Paul's Episcopal Church, Kinross 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 CharitiesStatement Accountsof Recommended( ScotlandPractice) Regulations( SORP 2006 and) issued Accountingin 2005. and Reporting by Charities: Note 2 explains the general purposes of St Paul's funds. Tangible fixed assets and depreciation Heritable properties are shown at cost. 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 carrying values has ocurred during the year. Fixed asset investments
Investments are shown at market value and unrealised gains and losses are included in the Statement of Financial Activities. Our investments have been converted to a cash basis and have been placed in a bank deposit account. Congregational giving, donations, legacies and similar income Congregational giving is accounted for when received. Donations, legacies and similar income are accounted for when received. Gift Aid tax recoverable is accounted for at the point the tax reclaim is calculated.
Disposals of investments None left. Governance Costs f Governance Costs relate to those costs necessary to provide governance infrastructure which allows St Paul's to operate and to generate the information required for public accountability. Apportionment of Support costs Resources expended are shown in the Statement of Financial Activities categorised by charitable activity and governance costs in accordance with the requirements of the Statement of Recommended Practice. The costs and grants awarded are capable of direct attribution to the categories.
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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 Paul's has seven funds:-
| Unrestricted Funds: | |
|---|---|
| General Fund | Funds held forgeneral work of thechurch |
| Restoration Fund | Specific fund set aside by the Vestry for capital maintenance of the |
| church buildings ( including the rectory ) in this designated fund. | |
| Restricted Funds | |
| Rectors Stipend Fund | Currently Nil |
| New Hall Fund | A plan to build a meeting room was initiated in 2000. All appeal funds |
| and grants given specifically forthis construction have been credited to | |
| the New Hall Fund. Expenditure on professional fees and payments to | |
| contractors have been debited to this fund. The value ofthis fund as at | |
| 30 September2025 is £171,421. | |
| PropertyFund | This fundwas created to reflect the value ofthe propertypurchased by |
| thechurch ie the Rectory purchased in 2005 for£171,869. The Diocese | |
| held this fund which has been utilised in the extension and refurbishment | |
| ofthe Rectory. Therewasa transfer offundsfromgeneralfund to fully | |
| meet the cost of the works which has resulted in the the balance at 30 | |
| September 2025 being £246,441 | |
| Re-order Fund | This fundwas established to collect monies for a major project to make |
| our church more comfortable and create an area for the wider | |
| community use. The value ofthefund as at 30 September 2025 is £0. | |
| FlowerFund | Money for the purchase of flowers in the church. As at 30 September 2025 |
| the fund stood at £475. | |
| 3. Clergy and staffcosts and emoluments 2025 2024 |
|
| £ | |
| Gross Stipends and salaries | 2,779 29,033 |
| Pension Contributions | 855 13,788 |
| Average number ofemployees during the year 1 1 |
|
| ( full time equivalent ) | |
| EmployersNICnolongerexists. |
No employee received emoluments in excess of £60,000.
Employees are eligible to join the Scottish Episcopal Church Pension Fund which is a non contributory defined benefit scheme with benefits based on final pensionable salary. The Rector is a member of the Fund. St Paul'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 contribution scheme. The contribution rate for the year under review was 32.2%. There were no contributions outstanding at 30 September 2025 in relation to St Paul's employees. No Vestry Member received mileage reimbursement or other remuneration other than expenses incurred on behalf of the church.
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Bn £ Aberlour 283.00 283.00 5 Fixed Assets Investments Heritable Total Property ££ -413,618 413,618 Balance at 30 September 2025 - 413,618 413,618
The church buildings at 53 Muirs, Kinross are owned by St Paul's. The original cost of these assets and the cost of improvements 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.
The Rectory which was purchased in 2005 is included at cost price under Heritable Property with the addition of the expenditure on extension and refurbishment
The new church hall was built in 2007/9 and the total cost is included under Heritable Property.
On 30 September 2025 the main church building and contents were insured for £7,320,000. This is the maximum loss limit. Replacement building cost does not represent market value of the properties and does not include valuation of the land on which the properties are situated.
| 6 | Debtors | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Gift | Aid tax reclaim | 5,731 | §,214 |
| 5,731 | 5,214 | ||
| 7 | Creditors | 2025 | 2024 |
| £ | |||
| 200 | club | 200 | 200 |
| Repairs & Architectfee | 8,569 | - | |
| 8,769 | 200 |
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| 8 Reconciliation ofmovement in funds |
Unrealised | Unrealised | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance atincoming | Resources | gainsand | Balance at | ||||||||||
| 01-Oct-24 | Resources | Expended | Transfers | losses | 30-Sep-25 | ||||||||
| Unrestricted Funds | g | £ | E | £ | £ | £ | |||||||
| General Fund | 23,866 | 50,386 | 51,880 | - | 22,372 | ||||||||
| Restoration Fund | 5,640 | - | - | 6,695 | 14,335 | ||||||||
| 29,506 | 50,386 | 51,880 | 8,695 | - | 36,707 | ||||||||
| Restricted Funds | |||||||||||||
| New Hall Fund | 171,421 | - | - | 171,421 | |||||||||
| Property Fund | 246,441 | 246,441 | |||||||||||
| Reorder Fund | 8,695 | 8,695 | - | ||||||||||
| Flower Fund | 475 | 475 | |||||||||||
| Stipend Fund | - | - | - | = | |||||||||
| 427,032 | - | - | 8.695 | - | 418,337 | ||||||||
| Total Funds | _ | 456,538 | 50,386 | 51,880 | - | : | 455,044 | ||||||
| The level of loss has been considerably been | reduced. | The rectory | has | been | mostly refurbished and | is | |||||||
| readyto be letas part ofourfuture linkagewith St.James, Dollar. | |||||||||||||
| 9 Analysis ofnetassets between funds |
Unrestricted | Restricted | Total | ||||||||||
| General | Designated | NewHall | Property | Reorder | Stipend | Flower | |||||||
| Fund | Funds | Fund | Fund | Fund | Fund | Fund | |||||||
| £ | £ | £ | £ | £ | £ | £ | |||||||
| Fund balances at30 September2024 | |||||||||||||
| are represented by: | |||||||||||||
| Fixed Assets | |||||||||||||
| Heritable Property | - | - | 167,177 | 246,441 | - | - | - | 413,618 | |||||
| Investments at marketvalue | - | - | - | - | - | . | Wé | - | |||||
| Current Assets | |||||||||||||
| Debtors & Prepayments | §,731 | 5,731 | |||||||||||
| Bank & Cash | 25,410 | 14,335 | 4,244 | - | - | - | 475 | 44,464 | |||||
| Current Liabilities | |||||||||||||
| Creditors &Accruals | (8,769) | : | - | - | : | : | : | (8,769) | |||||
| 22,372 | 14,335 | 171,421 | 246,441 | - | - | 475 | 455,044 |
The unrestricted fund includes General and the Restoration Fund
Restricted Funds are New Hall & Property Funds, Re-order,Flower and Stipend Fund
10 Quota
Quota is paid by St Paul's to the Diocese of St Andrews, Dunkeld and Dunblane to support the work of the Diocese and of the Scottish Episcopal Church as a whole. Quota currently stands at 16.5% of relevant income.
11 Governance costs The cost of managing the investment portfolio was EO compared to £325 in 2024.
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