(J:LL CHARITY REGISTRATION NUMBER: SC008066 Holy Trinity Episcopal Church Unaudited Financial Statements 30 September 2024
Holy Trinity Episcopal Church Financial Statements Year ended 30 September 2024 Trustees. annual report Independent examinerfs report to the trustees Statement of financial ath'vities Statement of finanrial posits'on 101 Notes to the financial statements 11
Holy Trinity Episcopal Church Trustees. Annual Report Year ended 30 September 2024 The trust present their report ar¥J ts un3rted fin1 statements of ts thatty for the yeai ended 30 September 2024 Rgfergncg and adrninistrativè d•tsil• R•gistèr•d Charity nam¢ Hoty Trinty Episcopal Church Charity regi8tration number SCt108066 Principal 0ffi¢o Th• tru8t••8 Land and BuildiThJs Truslees The church. fectory. grounds and parl of the burial grourKJ are vested lurK1er I1 1850 feu ch rter of John Henry Carnpbell) in the Bishop arKI cther 'assuned trustees,, of whcmn none are belwed to survive Part of the burial a1 otrr gfound ts Yes In the dCe$an trustees. 0 are lex officiol the oishop. the Dean, Ihe Synfyj Clerf( and the Regtstrar ol the Dknxe.
Holy Trinity Episcopal Church Trustees, Annual Report Year ended 30 September 2024 Structurn. governan •nd manag•ftnt Types of Goveming t)ocuments The goveming dcKumenl Is Constrtuthyb of the Hoty Tnnty Church daknj 2012. Holy Trinrty Episcopal Church Dunoon Is a church of the &ottish Episcopal Church and is in full communk)n wf(h the Anglican Church and the PoTrw CoMmunK. Holy Trinty Dunoon is also in a financial 'linked charge. arrangement Iwth a Memora Agreement dated June 2010) wrth St Paul's Epwopal Church Rothesay. Th 15 re¥ved amounts amended annualfy um of nd the Appointrnenl ol Vestry Membe The Vestry members are recfuited Of appointed as foll. The Rector or Prt In tharge - ex offic. The Lay R•prntstNe . ex officio. ebected each yeaf frLf the Church Membership in a with the Cc*Je of Canons. rdance The Rectorfs Church Warden, appointed annualty by the Rector. The Peopl6'$ Churth Warden, 8l¢ded annualPy by the (xm9re9atTh. Not more than six nor fewer than three ¢4)nstrtuent rnernbe. eed at tt)e annual meetind one ol whom retires each year and n(rt elfjIb for itrelectK)n that year. The serving member retires If more than 1 then Sele(1 by kx of Ihose eIL)le Membets may be ¢tsopled leh¥een annual meetings. The Vestry appoints a Secretary aThJ a Treasurer who need not be membe(s of the Vestry. No changes are made lo the Vestry mwnbershy during a vacancy. We endeavour lo have Vestry trainiThJ In appropnale aTea5 e g Heatth and Salety. Saleguar4ing etc on a regular basis. Vestry membets s¥Jn acceptance of the consu0n aTrJ that they ar 'fil and proper persons. undei charty 1egtslatn
Holy Trinity Episcopal Church Trustees. Annual Report Iconth Year ended 30 September 2024 Objectivos and activiti0¥ Charitable Purposes Holy Trinty shares in the and obJects¥es of the So)tlJsh Episcopal Church. to wdrk and witness In the community as an expressw of the or Hoty cathol and Apostol Church Our primary obieetT¥es are advancement of rel)n. the pr(Nnot of Of raual hamiony, the PfomotN)n of equality arKI diversity, the relf ol trM)se in red by feason of age, ill heath, d*abilty, financial hardship or other disadvantage We seek lo grow In Christ, lo Cerate smments. lo respoThJ to what God ts doing in the lives of the community and the worfd, arml lo hand on t tritIOn of the chur¢h
Holy Trinity Episcopal Church Trust8as' Annual Report {con¥nu8 Year ended 30 September 2024 Achievements and perforni•nco Main Actrvrtes We aim lo maintain the church building as a sacred Spa arx1 phy&cal reminder of our pre in the community, wrth a full-lime stipendiary prst lo celebrate the $a¢ramenl$, to nurture, ch411enge and sustain Ihe cijmmunty of faith. Holy Trinity colllinue5 in the work and fflission of the church through worship. leaching, fellows pand oulreach io the community. Many members of the church live out Iheif larth by becoming attivèly involved in the community and local organisations, and the church as a whok supporls the vJrk of chanlies such as Christian ANI and MIssK)n lo Seafarers. Spwal appeals during the year arè a580 supported. Holy Trinity Dun¢)on is part of a linkj charge affangemenl with Sl Paul'$ Rolhesay Si Paul's sukports a proportion of the ministry $18 (clergy costs, travel and reclory expensesl. This arrangemnt Is planned lo continue. wrth some Variat In the proportn$ of paynts as required, for the ne year and onwards. Summary ol Main Achvements". The main focu8 in year 2023-24 was maintainiry the regular patlern of church service conlinuiTrJ with the ovtre8ch lo those who are housets)und through online service provisn. and Worshipping logelhar The pattem of regular and seasonal WDiship continLd, and the Rector was as8isled in s¢rvice provision by the re11red Prwt, and membets of the Lay Team. there continues to be rLgulai LinliiiL' YIL)Iship IIIiL)ugh the week and on a Sunday. ¥th a dedicated •nline congTe9alion. The praCte ol having ecumenical services In each thurch dunng Holy Week conliDued. Our Rector was ekcted Bishop of Argyll and The Isles in May a p in A4gu81. Since his moye lo Oban, worship provision has been maintained by 14nd Ihè L8y Team. both In the church and online. Ovr new Bishop cL)nlinues to SUlJlJ&•l ikn.¥.i as our I rim Rector Applications for the p0510l Reclof ol the ccfflbined ¢harge were Invrted In Septembe and Interviews are due lo take Pla In December. Ish hile we have ¥adfy g¢)odbye to 80me members of the Congregation, we continue lo attra membgrs, so numbers are steady. new Meeling logelhef We continue lo look lor opportunilEs lo meet IDJelher out5Kle of Sunday worship, wrth a manlhly coffee morniry in a I(31 collee shw. a Quiz NTrghl. a Haest Supper. and a svccessful Chrislmas Fair and Summer Car 8oot Sa. We also o)ntinued the quarterly 'paroh lunch., where people meel for Sunday lunch In a local feslauranl. after the Sunday morning Servi, and we had a Player Walk through the lown local area. Spirrtual Growth We continued lo hold Prayers for IsraekPalesline each month online, with an online Advent C and Lent course being led by the Rector. Various memb8rs of the Lay Team attended Diocesan urse
Holy Trinity Episcopal Church Trustees, Annual Report Iconiinu•oJ Year ended 30 Septombgr 2024 Training courses, and Vestry members engage in 'thIlIng in the Word. al each Vestry meeting Dunng the year Holy Trinity Church re-estab1hed quarterty Episcopal servi In Kyles Partsh ¢hurch in Kames, by kind invrtation of the Minister and Kirk Session. ThB foll¢)ws on from the worship of Sl Martin's Church. a dependent congregation of Hoty Trinity Ouncw)n, which In Ky$ Chur¢) until around 2013. Members of the congregatK)n have inrtiated a new outreach lo Primary Schools. as part of an ecumenical team. Chufch volunteers enaet the "Open the 8oDk" Bible stories from the Bibl8 Sticiety, which are SpeClty wrrtren for Primary School children. as part of the schools, RME currlculuffl provision. Currently the team visits 4 Pnmary Schix>ls across Cowal, visrting each about 4 tsns per year Meanwhile church members al80 took part in "Expernee Chrislma5' outreach lo Pe S1 class al Dunoon Grammar School. Fabric The Land Project has progressed over the course of the year. Tr planning application for tlle fiF31 stage - the exlension housing an asible toilet - was approved, and we have applied for a Building Warranl A lund-raising appeal was launched May with a special concert in Il church by-811- Our former Reelory 81 as sold In August. Hoty Tnnrty s shafe ol th8 pro(ed8 of the purchase have been Invesl a new Rector has been appjinted. Wttn plannwig a new Ftyctory will begin. unli General Tepair and Maintenan of the lkJ arvj gTound8 contsnue8 thrhOul Ihe year.
Holy Trinity Episcopal Church Trustees. Annual Report Iconthiu Year ended 30 September 2024 Financial review Policy on Reserves The trustees intend that the reserves which are held as investments shoukj be retained in or&r that the work of the church may be continued. The reserves are broadty split Into inveslment51bonds and the bank balanee. The vestry decides on the best Icution fof the reserves based on Inter&t and investment risk5. Good practice is to ensure that cash in the charty's accounts is SuffiCt to kaep the accounts solvent during the yeals ath'vTlies. The available cash balan (bank and deposrt ac¢ounlsl held al 30 September 2024 was £32.126. This amount. more than 20% of annual rn0Ver. is felt lo be an appropriate level for rnanaging cashflow. The unrestncted reserves of £459.505 are moslty held In unil trusts to maximise revenue income. Although unieslricted. Hoty Trinty's share of the proceeds from the sale of the fomier Rectory. £311. 186, has been desonaled by the Vestry as ring-fen¢ed for the construction or purchase of a new Rectory. The remainder can be drawn down if morè local reserves are required In the future. Risk Management The Church has a comprehensNe Insuran policy wtth the Ecclesiastical Insuran Compary who specialise In Church Insurance. The policy values are urwjaled each year by the company in IirE wrth their experEnce, and in line wrth requirernenls. we have UKMJaled our ectrICal inspection certificate. and serviced the fire extsnguishers. and the necessary remedial wot to the lightning conductrts has been completed. The Church buildings are surveyed every fNe years lo establtsh any necssary work. T last inspection was in 2021 and we will conlinue rry out qtjinquennial inspections to tsmelable A training session was held for the Vestry members of the linked charge lo knk at fisk assessment and Ilow to use new documentation introduced from the Provin Plan8 for future period8 In the coming year we seek lo contsnue lo grow and develop the congregabon and communrty Df the church Our major focus in the coming year will be the appointment of a new Rector Alongside this le will continue with the development of the land grfled to the church. We will seek financial support frjr the Toilet Project Ihrough grants and fundraising. and we will develop a sound business plan for the ksl of the project - Including the building of the new Rectory. Along wrth the rest of the Scottish Episcopal Church we will continue working on becoming rt)on neutral by 2030, and we will continue lo wofk lowaids the installation of soL4r PV systems. although this may not happen until the h811 and Rectory stage of the projecl Al the same ts.me we will look at other measures such as air source heal systems. draughl proofing and secondary glazing. will continue working with grant awarding bodies in the hope of obtaining lunds lo help with these pr(4ects The plan is for the church and grounds lo be developed as a space for mission aNJ ministry t) the wider communrty. Building on the wonderfvl support of the thurch Community, we aim to balance the ac£ounls,once again this coming year
Holy Trinity Episcopal Church Trustees. Annual Report Year ended 30 Septsmber 2024 The trustees, annual report was approved on 21 May 2025 and swned on tehalf of the bdard of trLi8lpp8 by Trustee
Holy Trinity Episcopal Church Independent Examinerfs Report to the Trnstees of Holy Trinity Episcopal Church Year ended 30 September 2024 I report on the accounts of the chanty for Ihe year eThJed 30 September 2024 which are sel pages 1 10 26. ulon Rg8pfj¢tivè re$pon•ibilitfi8# of tru8ts•• and ex•minor The charity s Iruslees afe responsible for preparaiK)n of the accounts fft accordan wrth th ol the Charrties and Trustee Investment (Scollandl Ad 2005 and the chantS Accounts (Sc Regulations 2006 las amended) The chaiity Iruslees consKler that the audit requiieffl Regulation 1011 I lai lo Icl ol the 2CQ6 Accounts RegulatKins does nol apply 11 Is my responsi examine the accounts as required undeT sethon 44111 Icl ol the Act and to 3tate whether pa maller$ have come 10 my attention. terms tlatKII nl of Icular Bail• ol IndondOnt •xamin•r'J statsm•nt My examination c8rned out In ac¢ordan¢e wth Re9ulalion 11 of Ihe 2c6 Accounts Regulatio examination Includes a review of the a¢untIng records kept by the eharty and a comparsson ccounls presented with those records 11 also Includes consideration of any unusual Ile disclosures in the accounts. and seeks expnal)ns ITcrfn Ihe trustees concerning any such m The procedures undertaken do not provKle all Ihe eVen Ihal woukl be required In an aud consequenlty I do not express an audrt Opin1 on the ¥w given by the aecounls sAn Ilhe s or tters. .and Independent exarniner's sl•l•m•nt In the course ol my examinalK)n. no mallei has come lo my attentstyl whh gives me reasonable cause lo beheve that In any rnalerial respecl fequiremenl lo keep accounting iecofds in accordanc* wrth Se¢th)n 44111 (a) of Its 2005 A Regulalion 4 of ihe 2C(6 Aecounts Regulations and lo prepare ac¢wnl$ whth accord wrth accountir4J re0$ aThl eompty wrth Regula ol the 20( Accounts RegulatsMs n8 have not been rnel. oi 2 to Whh, in my opinth. attention should be drawn in order io enable a prt¥)er understa ol the accounts lo ts reached. ding 21 Pi1ay 21J'.
Holy Trinity Episcopal Church statement of Flnancial Activities Year ended 30 September 2024 2024 Reslncted ftjnds Totsl fvnds Totailfunds 23 Unreslncted funds Income and endowments Donations and legacies Other Irading activrties Investment Income Other income 52,672 2,097 3,505 311,224 1.400 2,830 392 16,581 54,072 4,927 3,897 327.805 .432 1.847 5.519 16,869 Total incomo 369,498 21,203 390,701 .667 Expenditure Expenditure on rabsing funds.. Costs ol other trading aCtivrts Expenditure on charrtable adivities Other expendilure Total oxpendlturn 354 57,059 4,571 354 78,318 5,(h33 131 .554 9,10 12 21,259 492 81,984 21,751 83,735 ,685 Nel gains on investments 13 18,464 18,464 1,013 Nat Income and not movfrmont In fund• 325,978 1548) 325,430 1$,995 Raconcillation of funds Total funds brought loard Total fund8 earrl•d forwArd 138,095 8.804 146,899 13 .904 464,073 8.256 472,329 141.899 The statement of financial activrties includes all gains and thses cOgnised in the year. All income and expendrture denve from continuing a¢tivilie$. Th• notes on pages 11 to 26 form part ol these Ilnanclal stat•m•nts.
Holy Trinity Episcopal Church Statement of Financial Position 30 Seplamber 2024 2024 2023 Fixed auets Tangible fixed assets Investments 122.781 368.417 23 49.953 1Y1,114 491,198 Currènt a•vts Debtors Cash at bank aThY In hand 24 3,492 32.126 6,130 ,075 35.618 1).205 Cr•ditor•.' •mounts lalling du• wilhin on• y•ar Not curr•nt liabiliti 25 54.487 44,420 18.869 24,215 Total awits lou curr•nt liabiliti•s 472.329 146 899 Ngt •¥B•t• 472.329 146.899 Fund# of th• ehrlty Restncled funds UnreslrKted funds 8,2 464.073 .804 .09S Total Gharity lumls 472.329 These financial slalemonls were oppr¢¥d by board of trustees and authonsed for wue May 2025. and are $Wn on behall ol the bcvrd by n21 Th• noles on pages 11 to 26 fonn part ol them fin•nclal st*tements. 10
Holy Trinity Episcopal Church Notes to the Financlal Statements Year ended 30 September 2024 Gon¢Trl inforrnaliorb The charty is a Publ benefit enty and a registered charry In Scotland and Is unincorporated he prinapal office Is stst•m•nt ol ¢ompll•n¢• These financial statwnenls have teen prepared in Complian with FRS 102, Tr Fi aneial Reporting SlaTrJard applKable In Ihe UK and the Republt of Ireland,, the Slalennl of Recommended Practice applicable to charrts prepanng I1'T aecounls in aeeordance vlih the Financial Reporting Standard aPpIable In the UK arnl Republic of Ireland IFRS 1021 {Charrt SORP IFRS 10211 and the Charrties and Truee Investrnent Iscotkndl Act 2005 aNI the ¢harty Accounts {Scotlandl RegU1atKs 20l las amen). Aecountlng polltl• B•¥i¥ ol pryr•ti¢)n The finanaal statements have been prepared on the htonl cost ba$bS. as mcKlifiwl the revalLJalion of certain financial assets aThJ lblIrt$ and Irwestrnent prCPertS measured al lair value through Inccmne or exartUre. The financial statements are prepa1 In sterlTrJ. lurth)nal currency ol the en Golng conc•m TTrre are no rnatenal uncertaints abrxrt the chafflvs abilty lo conb.nue 11
Holy Trinity Episcopal Church Notes to the Financial Statements Year ended 30 September 2024 Accounting policies Judgements and key Sources of estimation unc8rtainty The preparatn of the finanoal statenEnts requeS maftagnt to make iudganents, estimates and assUMptn$ that affect the amounts report1 These estimates and judg¢ments are conlinualfy and are based on eXpernCe and other factot5, Including e tions of future events that are beIVed lo te reasonable undeT the arcuMStan$ Signthcant iudgements The judgements (apart from those involving estimatThisl th management has madelin the process of apptying the entAVs accountiry wlicies and that have the most svJnrficanl efkct on the amounts recognised in the financial sL?teM are as fol4." There are Th) matenal judgements that rnanagen have made in the pr(ws of applybg the entty's acc¥)unting Key sources of estwnation UnrtaInty Accountsng esb"rnates and aSsumptnS are made 1xCem fvture aThl. by their nature. will rarety equal the related actual LWtCLvne key assump1K$ arKI other Sour of eslithalion uncertainty that have a snffiCant nsk of causing a matenal adiusbnenl to the carrying arnounls ol assets and lblIrtieS vthhin rext financial year a as fo11tr.. There are no key assumptsons aTrJ ot[ )Ur of ests.mat unctrtainty that have a s•Jryficanl risk ol causing a matenal adiustrnent lo the rry1 annts of assets and Ikgbilrts wthin Ihe next financial year. Fund accounting Unrestricted hjnds are available for use at the dtscretv)n of the trustees lo further any charity's purposes f the Desrgnated funds are unrestn.daj fuThJs eafft18ed by the trustees for partthlar future Pret or cornmitrnent Restricted ftjnds are subiected lo reslnclKms on t"[ expeFKliture dedared by the do through the temis of an appeal, and faN into one of sththsses." res1ThAl Inctsme fu endowmenl fuThJs. of or dsor 12
Holy Trinity Episcopal Church Notes to the Financial Statements I¢¢11n} Year ended 30 September 2024 Accounting policios (contln Incoming resourcos I Incoming resources are included In the statement of financ1 activikn.es when entrtrn nt has passed lo the charity., rt is probab that the economic benefits associaled with the Iran6aclion will flow lo the charity and the amount can be reliably maasured. The following specific policies are applied lo particular calegories of income. income from donations or grants Is recognised when there is e¥en of enIrtMen gift. reeeipl is probable and Its amount can be measufed relk4bty. to the gacy income is recc¥anised when receipt is probable and enIrtment is established income from donated goods is measured at the fair value of the grK)ds unless his 1$ impractical lo mea¥ure reliabty, in which case Ihe value is deiived from t cost lo the donor OT the eslimaled fe5ale value. Donated facilrts and services are recognised in the accounts when recerved if the value can te reliably measured No amounls are Inclu ed for the conlTibulion of geneial volunteefs. income from contracts lor the suppty of serv$ is recognised 7Mlh the delivery bi the contracted service This is classified as unreslncted ndS unless there is a coniiactual requifemenl for rt lo be spent on a particular purpose and returned Il unspent, In whic case it may be regarded as restncled Rosourcgs gxpgndgd Expenditure Is rew3nised on an accnjals basis as a lbilty is incurred. Expenditure includls any VAT which cannot be fulty recovered. a1 is cla3srfied under headings of the stslempnl of financial activities lo which Il relates.. expenditure on raising lunds includes the costs of all fundraising activrties, non4hari18ble trading aclivilies, and the sak ol donaled goods expendilure on charitable activit includes all costs Incurred by a charity In unde&king activities that further ts chafrtable aims for the tenefil of rt5 benefiaars, including those support costs and costs felaling lo the govemance of the tharty apportioned lo chath"lable activrties. enls, other expendilure includes all expendilure that Is neither relaled lo raising fund5 f chaTIty nor part of 115 expenditure on charitable activrties. r the All costs are allocated to expenditure categors refiecting the use of the resource. Direct costs attributable lo a single activity are allocated directly lo that activty Shared cos15 are 8pporOoned between the activitS they contribute lo on a reasonable, justifiable and consislenl basis. Tangiblo a$set8 Tangible assets are initially recorded at cost, and subsequently staled al cost le59 any accumulated depreciation arKI irnpairment losses. Any tangib assets carried at revglued amounts are recorded al the fair value at the dale of revalualion less any subs uenl accumulated deprecsabon and subsequent aUmlated impaim)ent losses.
Holy Trinity Episcopal Church Notes to the Financial Statements Year ended 30 September 2024 Accounting policies Tangible assets (e An Increase In the carrying amount of an asset as a resu of a revaluatr"on. recx)gnis&J Ih other recognised gains and kjsses. unless rt reverses a chaffJe for inpaiThrenl Ihal has previousty been cognised as expeThJrture wrthin the statefnenl of finanual actryrts A decrease In the rthrrying amount of an asset as a resutt of re¥aluatK)n, ts recniSed in Otr rec(MJnL8ed gains and bsses. except to whth rt oflsets any previous revaluatv)n gain, In Wh case the k6s wrthin other recognised gains and losses on statert of finanual actwFt1. Depreciation Is not provided on the Inlenm Rectory as the trustees eonshjer its residual va be at least equal greater than rts cosl e will Investmonts Unlisted UrtY investments are lortlty re(xirded al cost. and subwuently measured &1 fair value. If fair value cannot be reliabty measured, assets are measuted al cDsl kn impaimithi Listed investments are measured al fair value wth changes in fair value being rec(Jni income or expendrture. Investmonts in as8ociatss Investrnents in associates accounted for in accordance wilh the cost mcdel are recorded dt cost less any accumulated impaiment losses. Investsnents in asscKiales a(z(wnted for in accOan the frdif value model are ifftilially recorded at the transaclH)n price At each reporb.ng date. the investrrwts are measured 91 fair value, wrth changes In fair Val tsken throwh Income or expeThlrture. Where rt 15 Impracilcable to measure fair value reliably cx)sl m(MJel wTrll be ad)led. Dividends arKI other dtstnbutM)ns recev4ed fr(m the ¥estrnet are rectsjntsed as inLX)1 wkntt)out regard lo whether the distributK)ns are trn ¢umUlate(l profits of the associate arisirvJ beftrre or after the date of aLNu1srtn. Investments in joint venkn Investments in J(Mnty cOntrold entrt ac¢ounted for in accordan wrth the cnst modll are recorded al cost kn any aecumuLat8J InM)aimnl losses. Investments in iointty ntrOlled entrt acojuntoj for In aeLy)lan wrth the fair value m(MJÈl are inthally recorded at the transacbon pn. At each reportrng date. the investments are measured at fair value, wrth changes In fair value taken Ihrough InLtrfne of expendrtufe. Whefa rt is impracticable to measuie fair value reliabty ts c05t mLxlel will be adopted. Dividends and other distnbutK)ns receNed frL¥n the Investsnent a re(xyJntsed as income houl regard to ¥thether Ihe dtstnbutK)ns are frcn accumulated proffts of the joint venture arising tplore or after Ihe date of a(4uisrtJ"on. Impairnlgnt of fixod assets A review for irKl&itoTr of wnpa1nent is carTd Olrt al eh reFthThJ date. wrth the reco¥ble amounl bew estwnaled where such IndKators extst. fftere Ihe carrying value exceed the reoiverable amount. the asset is impaifed )rdryty. impairments are akn re¥w* for possible reveal at each repThkn"ng dale. 14
Holy Trinity Episcopal Church Notes to the Financlal Statements Year ended 30 September 2024 Accounting policbgs Impairn)ent of fixod a•sel• (¢tyrfM•• For the purposes of mpaiment tests"ng. whèn rt LS ncrt poss to estsmate the recoefable amount of an iThlivMJual asset. an eslimale is made of the recoverable amount ol the Cash-generati unrt lo whth the asset belongs The cash-gererating unrt is the sft)allesl identffiable group of assets thal includes the asset and generates cash inflows that largely Independent of the cash inlky•ts from other assets or groups of assets. For impairment testing of goLYwill, the gLxth"Il acquired in a buS1rSS combination is. fr•m the a¢qu15rtion dale, althated lo each of the ¢xsh-generabng unts that are expected lo benelt from the synergies of the combination. irrespeclive of Nthether other assels or Iiabililies of the tharity are aSsned lo thow unts. Financll in8trum•nts A finanaal asset or a finala1 kabilrty o recojntsed ¢Jnty when the charty beco a partylio the conlraclual proV)n$ of the inslrumenl. Basic financial instDJments are InrtAIty rec(qnthJ al the arncnt reeer¥able Of payable induding any related tranSactn ujsts. Current assets and cuffenl lbilitIeS are subsequenlty measured at the cash or other ConselatIon exFeded lo be pa Of recewed arKd not discounted. Debt insliuments a 8ub8equenty moasured at amortised e4JSt. trere Investments In shares a publicty traded or th[ fair value can otheTh¥ise be me¥ured relrdbty. the investment is subsequentty measured al law value with ehanges in lair value reeLKJnised In IncLxne and expendrtufe. All olher such Investrnenls are subwuenlly measthed al st less impairment. Other financial instruments. incI1ng deiivalives, are inrtwlly recognwj al fair value, Unless payment lor an asset deferTed teyffid nomal bugrw terms or financed al a rate of irteresl that is not a market rale. in which case the asset 15 measufed al the present value of the future payments dtscounled at a matkel rate of InleTrst for a smilaf debt Inslrument. Other financial bnslrumenls are subsequentty mea5Ufed al fail value. with any changes recognised In Ihe ststemeni of financbal acbvrts. wrth the ex(wtKm of Wging InstTumenll In a deSnared hedging relat)nShip Finanoal assets that are measured at cost of amorti cosl are reed for obFctNe e¥enCe of Impairment al the end ol each rethng date. If there e¥llen ol impairrneljl. an impairment loss is reCognd under the appf¢wnale heading in the slalemenl of finln¢ial activrties In which the inrtia5 gain was recxyJntsed For all equty Instrumenls ard$ of snrfunr. and other financial assets are Indivua1ty sN)ntficanl. these are assessed irKlivhJualty for impairment Othei financial assets are erther assessed 1ndr¥uaIkY or grpj on Ihe t>aS of swndar cIrt nsk charactenstics. Any reversals of impainmenl are reccyjnised irnmediatety. to the extent that the reversal not result In a carying amounl ol the finanaal asset that exceeds what carying amount would have been had the impairment not prevK)usly t*en reccmjnised. 15
Holy Trinity Episcopal Church Note8 to the Financial Ststements Iccvth Year ended 30 September 2024 L)onation• and l•ga¢i08 Unrestncled RestrTrcted Total Fund8 Funds Funds 2024 Donations Re9ulaT Donatioris One-off donations Grft Aid reclaimwj 30,872 12,026 9,774 30,872 12,026 ,774 Grants Granl - Travel Cranl - Mission & Minislry Grant - Buildings Grarbl - Stipend Supwt Granl - Recovery & Renewal Grant - Benefa Trust Grant - Lted Places ol Worship Grant - EV for charging point ,000 400 400 52,672 1.4 54,072 Unrestnct¢d Funds RestrKted Total #und8 Funds .2023 Donation• Regular Oonatws One-off donations Grft Aid Teclaimed 32,118 32,118 4,368 1,404 500 9,404 Grants Granl . Travel Cranl - Mission & Ministry Granl - Buiklings Grant - Stipend Supp(¥t Grant - Recovery & Renewal Grant - Benefact Trust Grant - Listed Places of Wornhip Grant - EV for charging point 1.200 1.750 2.277 2.100 2.038 1.950 1.272 1.200 1,750 1,277 2,100 2,038 1,950 .227 955 46,345 13.087 59.432 16
Holy Trinity Episcopal Church Notes to the Financlal Statements Year ended 30 September 2024 Other trading activities Unrestricttrj Funds RestrKted Total Funds Funds 2024 Quiz Nwhl Christmas Fair Christmas Hamper Just Giving Easyfundraising Website Penlecosl Flower Pots Harvest Supper Coffee Morning Amazon Smile Car Bool Fundraising for Tle1 310 613 118 211 310 1 613 118 211 52 52 325 325 2,830 2.830 2,097 2,830 4.927 untncled ReStsled Total Funds Funds unds 2023 auiz Nht Christmas Fair Chiislmas Hamper Just Giving Easyfundraising Vlebsrte Penlecost Fkvwer Pots Harvest Supwr Coffee Moming Amazon Smile Car Boot Fundraising for TOL 691 203 15 45 52 270 485 691 203 15 45 52 270 485 1.847 Inve•trnont income UnrestrK8d Restncted Tol•l F•nds Funds Funds 2024 General Unrts in SEC Unrt Trusl Pool Manifold Bequest Manifokl Poor Fund 1.825 1.825 1,680 ,392
897
392 392 17
Holy Trinity Episcopal Church Notes to the Financial Statements I1U00) Year ended 30 September 2024 In¥tont income (cont Unrestncled Restncted Total'.Funds Funds Funds 2023 General Unrts in SEC Unit Trust Pool Manifold Bw4uest Manrfold Poor Fund 3,563 1.594 3.563 1,594 362 362 5.157 362 5,519 Other income Unfestncted Restricted Total Funds Funds Funds 2024 Contributions frcKn St Paufs Rothesay Other Incorne Proceeds - Sale of Rectory 16,581 16.581 38 311.186 311.186 311,224 16,581 327.805 Unrestncted Re$Ined Total Èunds Funds Funds 2023 Contributions tr7 St Paul's Rothesay Other Income Proceeds- sa of Rectory 15,853 5.853 16 16 16 15,853 Costs of othei trading activities Un(estrKXed T¢)tsl Funds UnrestrKaed Total FuThJs 2024 Funds unds 2023 Fundraising Costs 354 354 131 131 18
Holy Trinity Episcopal Church Notes to the Flnancial Statements (conllnwd) Year ended 30 September 2024 Expenditurn on charitable acti¥itie¥ by fund type untricted Fund5 Restncted Total Funds Funds 2024 Unrestricted Funds Poor Fund SEC Grants Linked Charge Corra Foundalion Inlertarth Scotland Listed places of Worship Miscellaneous Fund Recovery & Renewal Grant Support costs 56,039 6,039 100 3.950 6.498 312 100 3,950 16,498 312 399 400 1,020 1,019 57,059 21,259 8.318 Unrestricted Funds Restricted Total Punds Funds 2023 Unreslflcted Funds Poor Fund SEC Grants Linked Charge Corra Foundation Interfaith Scotland Listed places of Worship Miscellaneous Fund Recovery & Renewal Grant Support costs 53,848 3,848 350 2,100 5.445 174 173 652 350 2,100 15,445 174 173 652 56 2,038 2,038 1.718 1,718 55.566 20,988 6.554 10. Exponditurg on charitable activities by activity typfr Activrties undertaken direct supr costs Totsl funds 2024 Tol I fund 2023 Unrestricted Funds Poor Fund SEC Grants Linked Charge CoTra Foundation Interfarth Scotland Listed places of Worship MislIaneOUS Fund Recovery & Renewal Grant Governance Costs 56,039 56,039 100 3,950 16,498 312 3.856 350 2.100 5.445 174 173 652 56 2.038 1,710 3.950 16,498 312 400 400 1,019 1,019 77,299 1,019 78.318 19
Holy Trinity Episcopal Church Notes to the Financial Statements icortlnuod) Year ended 30 September 2024 11. Analysis of support ¢ty Unrestncted Funds Totsl 2024 To 2023 General office Governance ¢ts 1.019 1,019 1,710 1.019 1,019 1,718 12. Other expenditure Unfestn'cted Funds Restricted Total Pund8 Funds 2024 Costs re Sale of Rectory 4.571 492 5.063 Unrestricted Funds Restricted Total Funds Ljnds 2023 Costs re Sale of Rectory 13. Net gains on invoslmènts unreStrted Total Funds Unrestncted Total Funds Funds 2024 Funds 2023 Realised Gainl{loss} on Investments Unre81ised Gainlllossl on Investments 5.433 2,580 5,433 18.464 18.464 18.464 18,464 8.013 1,013 14. Independent examination I9 2024 a023 Fees payable lo the independent examiner for.. Independent examinaliors of the financial statements 1,019 1,710 15. Expenditure on diocesanlprovincial quots Thi5 payment is levied by the panI charity, the Scotttsh Episcopal 010se or Argyll & the ilsles. 11 is based on an average of the previous thTee years. Incoffle, and is used to fund the acliviles of the DI0Se, the Bishop and lo make a small grant to the Province, the Scottish EplpaI Church. 20
Holy Trinity Episcopal Church Notes to the Financial Stslements Year ended 30 September 2024 16. Staff costs The total stsff costs and empwe befits the reportsng penrxl are analysed as follows. 2024 2023 Wages and salarS 39,130 0.492 Pension sChe Stipendiary dergy are able to join the ScottLsh Epscrpal Church PenSIn Fur whth d a non onlTibutory defir)ed benefrt scheme wrth bwefrts based (m final pensionabk salary. The Rector was a membor of thè fiJThY {01.10.2023 to 20.08 24) The costs of stherne to the tharty for the year was £10.430 12023 £9,607) The average he count of employee5 during the year kwas 1 <2023.. 1>. No employe retswd empw benefts of more than £60.(MXJ dunng the year12023.' Nlll 17. Discipleship & mi#sion Discipleship arKI Mission are suprKJrted by a grant from the O¥Jcese Fe5tricl&t pr of the cosls are those paKI frffli these grant fvnds tlions 18. Trustse remuneration and expenses Expenses were paKI to Amount paKI £2.91X. Nature of the expenses expenses of olfvx (travel. staknry, post. telephorel. The Rector re(Ned remuneratKm and reThbursÈment of expense& The Rector is ex officio a memLEr of Lhe Vestry a1 a Trustee. and r1veS remunerat. benefit5 an¢J Teunbursemenl of expenses in respe(l ol servNxs as a stipendiary clenc In lin wrth les delerrnined by General Syn(NJ of tt SlI1$h Epwwal Church 19. Expenditure on ministry costs Ministy Costs are splrt betren Hoty Tmty & Sl Paufs RollY afKI the linked charge travel grant support from Dw)cese. The reStted propKTrrtions of the ct)sls are tho from fv[S provthd by the Dwxese. Provin. or Sl Pauf5 Rotrsay. ives pakj 20. Expendituro on the rKtory Rectory costs are split between Hoty Trx)rty & St Paufs Rotwy. In 2023r24 the proFxirbon of the splrt Hoty Trinrty 315thslSt Paul's 215ths. Sl Paufs prOPtK)n is shiA¥n a5 the re4ncted Sums. 21
Holy Trinity Episcopal Church Notes to the Financial Statements Year ended 30 September 2024 21. Colleclions for thi rtIeS Dufing the year the Church made speoal c(AlectnS for the uThJenKlted chanlslcauses. These are pa direct to the charitEslcau5es as colknted and therefore a not shown in the ace4unts. 2024 2023 | Poppy Appeal DEC Ukraine Appeal Mission to Seafarers S(x)tland (MTSS) Christian A Cope for DavKI 46 10 55 1TT 1,212 60 116 22. Tangible fix assets Site Interim Development Rectory Project Total Cosl At 1 October 2023 Additions 114,219 6,942 1,620 121.161 1.620 112,781 At 30 September 2024 Depreciation At 1 Octobgr 2023 and 30 Septomber 2024 Carrying arnount At 30 Sèptembor 2024 AI 30 September 2023 114.219 8,562 114.219 8,562 2.781 114.219 6.942 111,161 In FY 2022-23 Holy Tnnrty DUnn'S Trustee's errter&J Into an reernent wrth the Truste45 of St Paul's lo purchase an interim Rectory in DuncM)n fof shared PrEsl 11 was agreed th•t Hoty Trinrty Dunoon would prov¥Je a 62% share of the funds required for the purchase The Purchase price was £182.000 and £70.0 of this was fijnded by loans to the joint cha esof £35.000 from Ihe D of Argyll & The Isles £35,000 from the General Synod of the Scottish Episcopal Church Hoty Trinty Dunoon wcHJbJ te responsib for repayment of a 6201 share of these Joint loans Itotsllir4J £43,400) arKI a 62% shale of the 5% k)an Interest on same. This agreement is formalised via a Supplementsry MemoraThJum of Agreement 2023 re The Provision of Rectory AccommDJation IN 8. These loans were paNJ direct to Twin tlef Law who camed out the Conveyancir¥J for the property purchase) The Church is not shown in balan SW as these are vested in the Dn Tnjstees The insured values of these prwrt*s ai 30 Septwthr was.. Church Building - 2024 £9.980.O¢KJ {2023 £9.980.(KN)) Interim Rectory - 2024 £348.02312023 £337.500) 22
Holy Trinity Episcopal Church Notes to the Financial Statements (conth Year ended 30 September 2024 23. Inve$lJnents Other invostrnents Cost or valuation Al 1 Octobef 2023 Additions Fair value movements h9,953 0,000 8,464 At 30 Sept•mb•r 2024 Impaimient At 1 Octobor 2023 And 30 S•ptsmb•r 2024 Carrying amounl At 30 Soptymber 2024 AI 30 September 2023 8,417 8.417 49,953 All investments Sh above are hekj al valuatK)n 24. Debtorn 2024 2023 Piepaymenls and accrued irthmè Othef debto 1,020 3.492 3.492 6,130 25. Crgditorn: amounts falling du• within on• ymr 2024 12023 Bank loans and overdrafts Accruals and deferred Income Other crediloTs 53 400 1.020 67 43.400 1,020 54,487 44.420 In FY 2022-23 Hoty Trinty t)uno)n's Trustee's ented into an agreement the Truste& of Sl Paul's lo purchase an Inlerirn Rectory In Dunl for the shar&J Pr1 11 was agreed Ih•i Holy Trinity Dunoon would pro¥e a 62% Sha ol the fuThJs required for the purchase. The Purchase pr was £182,000 and £70.000 of this was lund&J by loans lo the ioinl chaJes of £35.000 ITOfn the Diocese of Ar9yII & The Isles atxl £35.000 fr(Mn Ihe General Synod of the Scottish Episcopal Church Holy Tnnrty Dun0 woukl be responsible for repayment of e 62° share ol these joint loans Ilotalling £43.4> arKI a 62% share of the 5% loan Interesl on same This agreement Is fomialiwj a suPpentsry Mwnofandum of Agreement 2023 le The Provision ol Rectory ACCOMMlat)n. IN B These loans were Pa dire(1 to Twn rLaw who camed oul the Conveyanong for prtT)erty Ptjrchasel. Loans lotalling £10.000 have also receNed frrmn 2 rneffl of the COngregat)n and th are shown as creditors affK)unts within 1 year. 23
Holy Trinity Episcopal Church Notes to the Financial Statements Year ended 30 September 2024 26. Analysis of charitib funds Unmtricted funds Al 1 Oct 2023 Gains and At k)sses 30 8•p 2024 ExpeThJrture Transfers General funds Rectory Fund 138,095 369,498 161.984> 1311.186) 311.186 18,464 2,887 1,186 138.095 369.498 161.984} 18.464 ,073 Ai 1 Ocl 2022 Gains and lo$se$ 30 Al p 2023 Income ExpgrKlrture Transfers General fund$ Rectory Fund 132,414 53.365 (55,697> 8,013 8,095 132.414 53.365 155,697> 8,013 8,095 24
Holy Trinity Episcopal Church Notes to the Flnanclal Statements Iconthwd) Year ended 30 September 2024 26. Analysi• of charitsble funds (¢onthu•d) Rostricted funds Al 1 Oct 2023 Gains and At losses 30 Sop 2024 Income Expendrture Transfers Organ Fund Poor Fund Appeal Fund SEC Grants Corra Foundation Inlerfailh Scotland Miseellaneous FLTrné Benefact Trust Linked Charge Grant -Listed Places ol Wotship Recovery & Renewal Grant Appeal Fund - Sile Development 1.532 819 1,113 2,950 709 153 1,532 392 1.210 1.ocHJ {1001 2,323 (3.950) {3121 397 153 500 400 14001 500 408 16,581 116,9891 620 620 1,620 21,203 1,620 8,804 121,75t> 8.256 At 1 Oct 2022 Gains and Al ses 30 &p 2023 Income Expendrture Transfers Organ Fund Poor Fund Appeal Fund SEC Grants Corra Foundation Inlerfailh Scotland Miscellaneous Fund Benelact Trust Linked Charge Grant -Listed Places of Worship Recovery & Renewal Grant Appeal Fijnd - Sile Development 1,532 807 1,113 12.277) 883 326 1,532 819 1.113 2,950 709 153 362 1350} 7.327 12.100) 1174 (1731 56 11,950) 500 1.950 1 S.853 156) 500 115,445) 408 1.272 16521 820 2,038 {2,0381 490 29.302 120,9881 8.804 25
Holy Trinity Episcopal Church Notes to the Flnancial Statements Iconlh Year ended 30 September 2024 26. Analysis of charitable fund• (conthwdj Organ Fund - Cpartal expeTrJilure #) relaknon to mtss. Tr Organ FuTrJ is m&Je up of réslncted cash. Pool Fund - Discretionary help to k)cal pcrfx. Appeal Fund . Church Fabric & GrrMJThJs. repairs & deVekyr. SEC Grants - Grants towards StwNJ & TraNpl costs of Redor & for Miss. Recovery & Renewal Grant - To assist Charges wrth recovery 0f'pre-pandern, ministy •d with online presence pO51-pandem. Corra FOUrKI* Grant . Towards Wages & Techr¥)k. Linked Charge- Contn"bub"ons from St Paul's Rothesay to Redorfs (x)sts & 215's Share of keclory Costs. 27. Analysis of nel assets between fvTrds unresln.cted FurKIs Restrted Total FundB Funds 2024 Tangible fixed assets Investrnenls Current assets CreditOTS sS than 1 year Not assots 120,$41 368.417 19.602 {44.487} 2,240 122,781 388.417 35.618 1S1.4871 4n.329 16.016 {10.000) 8.256 464,073 Unrestricted Funds Restricled Totsl Èunds Funds 2023 Tangible fixed assets Investsnents Current assets Creditors less than 1 year Net assets 118.257 49,953 12.021 144.4201 135.811 620 11B.877 4D.953 20.205 144.4201 144.615 8,184 8.804 26