(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 un3￿*rted fin￿￿1 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 a￿1 otr*r gfound ts Yes￿ In the d￿Ce$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•ft*nt
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 Pr￿t In tharge - ex offic￿.
The Lay R•pr￿ntstNe . ex officio. ebected each yeaf frL*f 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￿. e￿ed 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 eI￿L)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 cons￿u￿0n aTrJ that they ar
'fil and
proper persons. undei charty 1egtslat￿n

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 rel*f ol trM)se in r*ed by feason of age, ill heath, d*abilty,
financial hardship or other disadvantage
We seek lo grow In Christ, lo Ce￿rate smments. lo respoThJ to what God ts doing in the lives of
the community and the worfd, arml lo hand on t￿ tr￿itIOn 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 pr￿st 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 v*Jrk 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 link￿j charge affangemenl with Sl Paul'$ Rolhesay Si Paul's sukports
a proportion of the ministry ￿$18 (clergy costs, travel and reclory expensesl. This arrangemnt Is
planned lo continue. wrth some Variat￿ In the proport￿n$ of pay￿￿nts as required, for the ne* year
and onwards.
Summary ol Main Ach*vements".
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 provis￿n.
and
Worshipping logelhar
The pattem of regular and seasonal WDiship continL*d, 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 praCt￿e 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 Ha￿est 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 'th￿IlIng in the Word. al each Vestry meeting
Dunng the year Holy Trinity Church re-estab1￿hed 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 SpeC￿lty 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 tsn*s per
year Meanwhile church members al80 took part in "Exper￿nee 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 a￿sible 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. Wtt￿n plannwig a new Ftyctory
will begin.
unli
General Tepair and Maintenan￿ of the ￿lkJ￿ arvj gTound8 contsnue8 thr￿hOul 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 SuffiC￿￿t 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 e￿ctrICal 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 nec*ssary 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$pon•ibilitfi8# of tru8ts•• and ex•minor
The charity s Iruslees afe responsible for preparaiK)n of the accounts fft accordan￿ wrth th
ol the Charrties and Trustee Investment (Scollandl Ad 2005 and the chant￿S Accounts (Sc
Regulations 2006 las amended) The chaiity Iruslees consKler that the audit requiieffl
Regulation 1011 I lai lo Icl ol the 2CQ6 Accounts RegulatKins does nol apply 11 Is my responsi
examine the accounts as required undeT sethon 44111 Icl ol the Act and to 3tate whether pa
maller$ have come 10 my attention.
terms
tlatKII
nl of
Icular
Bail• ol Indo￿ndOnt •xamin•r'J statsm•nt
My examination ￿ c8rned out In ac¢ordan¢e wth Re9ulalion 11 of Ihe 2c￿6 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 exp￿nal￿)ns ITcrfn Ihe trustees concerning any such m
The procedures undertaken do not provKle all Ihe eV￿￿en￿ Ihal woukl be required In an aud
consequenlty I do not express an audrt Opin￿1￿ 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
wh￿h 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 re￿￿0$ aThl eompty wrth Regula
ol the 20(￿ Accounts RegulatsMs
n8
have not been rnel. oi
2 to Wh￿h, 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 aCtivrt￿s
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$,995
Raconcillation of funds
Total funds brought lo￿ard
Total fund8 earrl•d forwArd
138,095
8.804
146,899
13
.904
464,073
8.256
472,329
141.899
The statement of financial activrties includes all gains and thses ￿cOgnised in the year.
All income and expendrture denve from continuing a¢tivilie$.
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• eh*rlty
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 Slalen*nl of
Recommended Practice applicable to charrt*s prepanng I1￿'T aecounls in aeeordance vlih the
Financial Reporting Standard aPpI￿able In the UK arnl Republic of Ireland IFRS 1021 {Charrt
SORP IFRS 10211 and the Charrties and Tru￿ee Investrnent Iscotkndl Act 2005 aNI the ¢harty
Accounts {Scotlandl RegU1atK￿s 20l￿ las amen￿).
Aecountlng polltl•*
B•¥i¥ ol pryr•ti¢)n
The finanaal statements have been prepared on the h￿ton￿l cost ba$bS. as mcKlifiwl ￿ the
revalLJalion of certain financial assets aThJ l￿blIrt￿$ and Irwestrnent prCPert￿S measured al lair
value through Inccmne or ex￿￿artUre.
The financial statements are prepa￿1 In sterlTrJ. lurth)nal currency ol the en
Golng conc•m
TTr￿re are no rnatenal uncertaint*s 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 preparat￿n of the finanoal statenEnts requ￿eS maftag￿nt to make iudganents,
estimates and assUMpt￿n$ that affect the amounts report￿1 These estimates and judg¢ments
are conlinualfy and are based on eXper￿nCe and other factot5, Including e
tions
of future events that are beI￿Ved 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 fol￿4￿."
There are Th) matenal judgements that rnanagen￿ have made in the pr(ws of applybg the
entty's acc¥)unting
Key sources of estwnation Un￿rtaInty
Accountsng esb"rnates and aSsumpt￿nS are made 1x￿Cem￿￿ fvture aThl. by their nature. will
rarety equal the related actual LWtCLvne key assump1K￿$ arKI other Sour￿ of eslithalion
uncertainty that have a s￿nffiCant nsk of causing a matenal adiusbnenl to the carrying arnounls
ol assets and l￿blIrtieS 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￿ an￿nts of assets and Ikgbilrt*s 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 eafft18￿ed by the trustees for partthlar future Pr￿et 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." res1ThA￿l 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 financ￿1 activikn.es when entrt￿rn
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 enIrt￿Men
gift. reeeipl is probable and Its amount can be measufed relk4bty.
to the
gacy income is recc¥anised when receipt is probable and enIrt￿ment 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 facilrt*s 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 l￿bilty is incurred. Expenditure includls any
VAT which cannot be fulty recovered. a￿1 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 benefiaar*s, 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 categor￿s 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 activit￿S 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 a￿Um￿lated 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 actryrt*s A decrease In the rthrrying
amount of an asset as a resutt of re¥aluatK)n, ts rec￿niSed in Ot￿r 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 lort￿lty 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 accO￿an￿ 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 ￿¥estrne￿t are rectsjntsed as inLX)1￿ wkntt)out
regard lo whether the distributK)ns are tr￿n ￿¢umUlate(l profits of the associate arisirvJ beftrre or
after the date of aLNu1srt￿n.
Investments in joint venkn
Investments in J(Mnty cOntrol￿d entrt￿ ac¢ounted for in accordan￿ wrth the cnst modll are
recorded al cost kn any aecumuLat8J InM)aim￿nl 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 frc￿n 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 wnpa1￿nent is carT*d Olrt al e*h 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 reve￿al 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• (¢tyrf*M••
For the purposes of mpaiment tests"ng. whèn rt LS ncrt poss￿￿ to estsmate the reco*efable
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 goL*Ywill, the gLxth"Il acquired in a buS1r￿SS 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 aSs￿ned lo thow unts.
Financl*l in8trum•nts
A finanaal asset or a fina￿la1 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 arnc￿nt reeer¥able Of payable induding
any related tranSact￿n ujsts.
Current assets and cuffenl l￿bilitIeS are subsequenlty measured at the cash or other
Cons￿elatIon exFeded lo be pa￿ Of recewed arKd not discounted.
Debt insliuments a￿ 8ub8equenty moasured at amortised e4JSt.
tr*ere 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. incI￿1ng 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 acbvrt*s. wrth the ex(wtKm of Wging InstTumenll In a
deS￿nared hedging relat￿)nShip
Finanoal assets that are measured at cost of amorti￿ cosl are re￿￿ed for obFctNe e¥￿enCe
of Impairment al the end ol each re￿thng date. If there e¥llen￿ ol impairrneljl. an
impairment loss is reCogn￿d 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 s￿nrfunr￿. and other financial assets are
Indiv￿ua1ty sN)ntficanl. these are assessed irKlivhJualty for impairment Othei financial assets are
erther assessed 1ndr¥￿uaIkY or gr￿p￿j on Ihe t>aS￿ of swndar c￿Irt 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 - L￿ted 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 T￿le1
310
613
118
211
310
1 613
118
211
52
52
325
325
2,830
2.830
2,097
2,830
4.927
un￿tncled ReSts￿led Total
Funds
Funds
unds
2023
auiz N￿ht
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
UnrestrK￿8d 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 I￿1￿U00)
Year ended 30 September 2024
In¥￿t￿ont 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$In￿ed Total Èunds
Funds
Funds
2023
Contributions tr￿7 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
un￿tricted
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
Mis￿lIaneOUS 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
unreStr￿ted 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 I￿9
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 pa￿nI charity, the Scotttsh Episcopal 010￿se 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 DI0￿Se, the Bishop and lo make a small grant to the Province, the Scottish Epl￿paI
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 be￿fits the reportsng penrxl are analysed as follows.
2024
2023
Wages and salar￿S
39,130
0.492
Pension sCh￿e
Stipendiary dergy are able to join the ScottLsh Epscrpal Church PenS￿In 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 a￿1 a Trustee. and r￿1veS 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* S￿lI1$h Epwwal Church
19. Expenditure on ministry costs
Ministy Costs are splrt betr**en Hoty Tmty & Sl Paufs Roll￿Y afKI the linked charge
travel grant support from ￿ Dw)cese. The reSt￿ted propKTrrtions of the ct)sls are tho
from fv[￿S provthd by the Dwxese. Provin￿. or Sl Pauf5 Rotr*say.
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 prOP￿tK)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(Alect￿nS for the uThJenKlted chanl*slcauses. 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 DUn￿n'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 tle*f 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 D￿n 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 ente￿d into an agreement the Truste& of Sl
Paul's lo purchase an Inlerirn Rectory In Dunl￿ for the shar&J Pr￿1 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 cha*Jes 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 suPp￿entsry Mwnofandum of Agreement 2023 le The
Provision ol Rectory ACCOMM￿lat￿)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
Restr￿ted 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