Charity Number- SC 008953 St Margaret's Episcopal Church - Glasgow Report and Financial Statements For the year ended 31 August 2024 St Margaret's Episcopal Church Contents of the Financial Statements Page Charity Information Report of the Vestry Report of the Independent Examiner Statement ol Financial Activiries Balance Sheet io Notes to the Financial Statements 11-16 St Margaret's Eptscopal Church Charity Informatlon os ot 31 August 2024 Vestry Members From lector's Warden 'eople's Warden -ay Representative Ilternate Lay Representative Nov 2010 Nov 2021 Nov 2023 Nov 2023 Nov 2018 Nov 2025 Nov 2024 Nov 2024 Nov 2024 Nov 2020 Nov 2023 Nov 2020 Nov 202 1 Nov 2021 Nov 2023 Nov 2023 Nov 2024 Nov 2024 Nov 2026 Nov 2026 Nov 2026 Nov 2023 Nov 2023 Treasurer Church Ulhce 3531355 Kilmarnock Road Newland5 Glh4gnw C?43 ?DS Charity Number SC008953 Bankers Bank of kotland 50160 Kilmarnock Road Glasgow G413NN Stockbrokers Rathbones Investrnent Mana8ement George House 50 George Squa Glasgow G2 IEH Independent Examiner -o:- LL.. 24 Blythswoixl Square Gla58ow G2 4BG St Margaret's EpiKopal Church Report of the Vestryfor the yeor ended 31 August 2024 The Vestry is pleased to present its annual report together with the financial ststement5 for the year ended 31 August 2024. Status of Charity and Governing Do¢ument St Mdrgdrel's Episcopal Church j 'the Lharity") is a ieLvgni5ed kottish charity (No. SC0089531. It is part of the Unsted Diocese of Glasgow and Galloway of the Scottish Episcopal Church. It operates undef a constitution adopled on 8 January 1995, and subsequently revised on variou5 occasions up to 26 November 2017. Underthe chairmanship of the Rertor the Vestry has responsibility for the spiritual and temporal affairs of the church. Vestry Members The vestry comprises elected constttuent member5 of the congregation and ex-oflicio appointments. The of-.ov Vp4lrv I Svp:*TDer 2023 ro the d,.".e •f"h's report ivere" Appointment of Vestry Members Vestry members are elected at the AGM. The term of servite lor elected constituent members of the congregation is three years. With the option to Stand for a secrjnd term. Furthef election is not peimitted untt'5 after a fallow year. The People's Warden is elected by ihe congregah.on at each AGM anij is eligible for re-election. but for no more than four years. The Rector's Warden is appointed at the 501e discreti.on of the rector. The Lay RepTe5entatt"ve and the Alternate Lay Repre5entatrve are elected at each AGM. The Rertor, the People's Warden, the Rector's Warden, the Lay Representatrve and the Alternate Lay Represeniative are ex oflicio members of the Vestry. There is no formal induction programme but ongoing guidance is given to ensure that Veslry members are familiar with the church's values. aims and obiechves together with its day-to-day operanons, in addition to clarifying their statutory respon54bilitr.es as trustees of a charity. Vestry members have access to written gutdance from the Diocese, the Office of the Scoth"sh Charities Regulator and His Majesty's Revenue and Customs as to the roles of vestry members and charity trustees. The Vestry has agreed a Code of Conduct to guide interpersonal interacDons. Admini5trati¥e Strurture The Vesiry, under the thairmanship of ihe Rector. 15 responsible for the over3113dministration of the church. Charltable Objectlves The church's Mission is lo be an inclusive. affirminL non-judging community, where all are welcome to explore faith and doubt. to come to a deeper understanding of God's call in their own lives and to engage In the wider Mission of the church. St Margaret's Episcopal Church Report of the v￿try {continueors to the public during the Glasgow DooT5 Open Days weekend and had 63 visitors. Hutche50n's School Festival of 9 Carols was attended by over 200 people and a stunnin8 display of li8htt"n8 was staged in church. Due to lack of regular volunteers, the Church Open inittatr.ve Is now only held on Tuesday mornin8. Thi5 provides the community Wtth the opportunity to walk in and spend time in prayer and reflection. The church supported various charitie5 With fi'nance and 8ifts during the year, as noted in the accounts. A Food and Friendship lunch was introduced in March, and has since become a monthly occasion. The con8regatt.on supported the Foodbank in Gowdnhill and volunteers continued to help volunteer at the Pollokshaws Hub throu8hout the year and support its acn'vities. Our sanctuary's lon8-slanding reputation 35 a stunnin8 venue for concerts and events corbtinued. Performance5 included ten Second Sundèy concerts. with ten concerts presented by local musicians, a choir from the Faroe Islands, LAMPS Collettive, whose performance reflected on the Easter story, GldS¥OW Charnber Choiw. Bach Canlatas project. Hutchesons Choral Society and Eastwood Choral Society. Hutcheson Choral Society held their fundraising coffee mornin8 in the hall. Thi5 year'5 Holidav Club themed D.E.Votion was artive and well attended. 4. Steward5hSp The con8regation observed the Season of Creation by Teflerting on our calling to care for Creation. The vestry mel at an away day to focus on plan5 for the comin8 year and held regular meetings to discuss h"nance5 and other affairs of the church. Canon 35 èpproval for up8radin8 church lighting was sou8ht and granted. The successful quote was for £47,CKKI, £20,000 of which has been met by a le8acy. The balance will be met by con8re83tt"on31 fundrai5in8. The vestry decided to sell the church flèt lo provide liouid reserves lor the church. Regular property maintenance and heahng and li8hting are the major expenses for the building. Volunteers 83ve as much of their tr.me and skills a5 they could, helping keep the costs down. A stewardship campaign was held during the four weeks before Pentecost, asking Members to volunteer their 8ift5 and talent5. 20 people responded with financial pledges and 22 people responded to Talents and expressed interest in different aspec15 of church life. As an eco-congregation, St Margaret's seeks to adopt recycling and use e((￿friendlY products. The Vestry has adopted an eco-friendly approach to garden maintenance, with the Eco team seeking ways of reducing carbon footprint. tfackins energy consumption and planning for an Eco-Festival in September. The congregatt.on also supports Fair Trade to ensuie fairness to Producers. Responsibilities foi the Protecrion of Vulnerable Group5 IPVGI feature at all Vestry meetings and an annual retvin was made to the Diocesan monitoring officer. The PVG co-ordinator will submit a report to the AGM. St Margaret's Eplscopal Church Report of the Vestry {continuedlfor the year ended 31 August 2024 Financial Review Resultsfor the year In summary, there was a defTrcit of £83. 640, mitt"8ated by a legacy of E20,000. è gain on a sale of property of £69.443. and investment gains of E37.421. The underlying financial picture is weak. Expenditure included signih.cant fabric repairs. General fund income wa5 £104,268 compared with £113.324 last year. The Gift Day drew a poor Tesponse of £2.230 includin8 Gift Aid. Freewill Offering Income was £45.621 and income from the Plate was £3.902. with sundry income of £3,371. Investment income dropped by £1,871, reflecting the continuing need to withdraw capital from the investment portfolio. Income from hall users increased by £4,S99 to f 17,554, and thanks are due to the Church Administrator in achieving this increase. General fund expenditure was £187,908 compared with £141.737 with the rnain increase coming in fabric repair5 to church and rectoiy. and incfeased stspends dnd salaries Ireflectt"n8 the SEC'S poliLy of progressively Te5torin8 str"pends to their 2CM)6 level adjusted for CPI). Heat and light cosis increased bv El.331. Control ol other expenditure was carefully monitored. The Statement of Financial Actr"vities on page 9 reflects a deficii of £83.640 on the Beneral fund12023 - deh'cit £28,188). £1,633 of the deh'cit for the year has been met from the Fabric Fund, with the balance of f82,CK17 bein8 met from the Endowment Fund. Restrirted fund incorne was £3,406 consistinB of Property and special appeal income, with rÈlatÉbd expenditure of £1,773. The amount of Restricted funds carried forward remains at £3,1(X). reserved for stained glass repairs1£1.8￿> and choral scholars1Saint Ceciliè Fund £1,3￿1. It is di5appointr.ng that Congregational income is much less than one third of our ioial expenditure. We rely signih'canlly on investment ènd community income. bui the reality of the post Covid world is that it is difh'cult to romp anywhere npar balanrin8 ihp b(x)ks without a si8nificantly increased level of support from the congregation. During the year the curate's flat was sold loi £156.416, generatin8 a gain of £69,443, and the proceeds have been lar8ely reinvested into the stockmarket. The church's portfolio of investments is of good quality and is managed to achieve è balance between income and capital Browth. While dividend income dufing the year decreased. the portfolio did benefit from unrealised gains in value in line with the general stockmarket reaction to the worldwide geopolibtal situation. On our stockbrokers, advice investments were realised at a gain ol E3.220 12023.. loss £3,210). At ihe year end the portfolio was valued at £551,460. representin8 a gain on revaluation of 134.36812023.. 1055 f12.6461. We have Iso drawn down around £30,LMXI in cash from our investments to fund the deficit and provide liquidity for working capital. The Balance Sheet is healthy. with reserves of £624,536 represented by cash, and invesiments. The reserves policy allows reserves to be used as c3Pltal or income for ihe purposes of mission and it is recognised that the congregation's linancial sIren￿h will be tested in the next year by the challen8es posed by the cost of livin8 increèses. This will almost certatnly lead to reduced capital and investment income, which in turn will rpqiAirp a significantly increased financial commitmpnt from the congregation in order to reduce future deh'cits. The Vestry reaffirrns the importance of direci giving in Christian stewardship and seeks to achieve a realistr"c approach to frnance. exercising wise stewardship and affirming the need for Benerous and proportronate 8ivin8, in older to ensure that the congregatr"on's income bèlances its eipenditure. Investment Policy Constitutionally, the Vestry has the power to invest in such stocks and shares. investments and property a5 It sees fit. upon the advice of 3 reputable stockbroker. The policy is to ensure a b31anced level of income and capital growth consistent with security of capital and accessibility of funds. Money which is surplus to immediate requirements is invested in bank deposits or stock m3rket as required. Ethical considerations are applied to the recommendations made by the stockbroker. St Margaret's Episcopal Church Report of the Vertry (continuedlfor the yeor ended 31 August 2024 Grant Moking Policy The chJrch makes grants to individu31s and organis3tTon5 from its general funds, and for special appeals. The beneticiaries are involved in a(tivitr"e5 consistent with the mi55i0n of the church. Reserves Policy The church's endowment fund has been built up over many year5 from the generosity of previous geneTations and from le83cies received. The church's policy 15 to credit legacies to the endowment fund and to transfer any surplu5 or defi.cit on its general fund to the endowrnent fund. rhe endowinent fund is maintained at a level which will provide an income for the churih in line with its investment policy, grovide funds for the purposes of mission and for expenditure on major property maintenallce. provide additional WOTking capital if required and meet any deficits which may aF15e on general funds, ststernent on Risk Major risk5 the charity 15 exposed to. and strategies for mitigating them are summari5ed a5.. l. Governance and m3nagement- Regular Vestry meetings. Mixed skillset. Effertive communication SVStem5. Record keeping. Succession planning. Limits on terms of elected trustees. 2. Operational.. Delegation of responsibilities. Training. Investment in technologv. 3. Financial.. Finances reviewed. and actions approved at each Vestry meeting. Rsgorous attention to fabric of properties. 4. Compliance (law and regulalionl-. Sound knowledge base. TrusteeNestry mernber code of conduct. Compliance with Provincial guidelines in critical areas. 5. Reputational.. Volunteer training and PVG checks. Docurnenting records of background checks as required. Plans for Future Periods The key objective for the coming year is to continue to provide a welcoming non-judgemental environment W1thin which to continue the mission of the church. Statement of Vestry Members, Re5ponsib¢litie5 The member5 01 the Vestry are required to prepare financial statement5 for each frnancial year which give a true and frdir view of the state of affairs of the church as at the end of each linancial year and ol its incomirtg resources and applicatt.on of ￿SourCeS. including its surplus OT deficit for that period. In prepawing these fi"n3ncial Statements, the members are required to.. select suitable accounting policies and then apply them consirtentlv- make judgernents and estt"mates that are reasonable and prudent.. prepaie fi"n3ncial statements on the going concern basi5 unle55 It is snappropriate to presume that the charity will continue its 3ctrvities' and state whether applicable accounting llandards and Statements of recommended practice have been followed subjecl to any rnaterial departlsres disclosed and explained in the flnancial statements. The members of the Vestry are fesponsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and which enable them to ensure that the financial st3tements comply with the Charities and Trustee Inve￿ment Iscotlandl Act 2005 and the Charitie5 Accounts Ikotlandl Regulatt"ons 2006 las amendedl. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention 3nd deteth'on of fraud and other irTegularitr"es. On Jeba.l ol rhE Ilestry e¥retary Si Margaret's Episcopalchurch Independent Examiner's Reportlothe Vestry ofst Margaret's Episcopal Church I report on ihe accounts of the charity for the year enéed 31 August 2024 which are set out on P3Ees 9t016 Respective Responsibilities of Vestry and Examiner Thc members of the Vestry are re5pon5ible For the preparation of the financial statements i accordance with the terffl5 of the Charities and Trustee Investment IScotl3ndl Act 20051.the Act-l and the Charitie5 Aciou￿ts (Scotlandl Regu13tr"ons 2006 las 3mendeél I'the Regulats"ons"l. The charity tru5tee5 conside* that the audit requirement of Regulatton 10111 lal to Icl of the Account5 Regulatr"ons does not apply. It is my responsibility to examine the accounts as required under section 44111 Icl of the Act and to state whether particular matter5 have cume to my attention. Basis of Independent Emaminer's Statement My examinabon is carried out in accordance with Regulation 11 of the Regulations. An eKaminatt"on includes 3 review of the 3£counh"ng records kept by the charity and a cornparison of the account5 presented with these record5. 11 also includes con51deratt.on of any unusual item5 or disclosures In the occounts and seeks explanations from ihe trustee5 concerning any such matter5. The procedures undertaken do not provide all the evidence that would be requlred in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent Exarniner's Statement In the course of my eKaminatr"on, no matter ha5 come to my attention which give5 me reasonablE cause to believe that in any material re5pert the requirement5=. to keep accountt'ng records In accordance with seLtion 44111 la) of the Act and Regulatt"on 4 of the Regulation5, and to prepare accounts which accord with the accounting records and comply wilh Regulatitsn 8 of the Regulations have not been met, or to whirh in my opinion att.pnbory %hni Ild l)9 drJyin jp. order to enable a proper understanding of Aimstrongwarson LLP Chartered Accountants 24 Blythswood Square Glasgow November2024 St Margaret's Episcopal Church Statement of Financial Activities and Income and Expenditure Account For the ye¢ir ended 31 August 2024 Unrtmrkted Aestricttd Endowment Funds Funds Fund Total 2024 Total Z023 Note Income fvom= DonatTOnS and legaties Chafltabfe activities InvestmÈrtt incorne Grants Total income 70.877 18.544 12.948 1.899 104.268 21,rrfM) 91.877 21,950 12,948 1.899 128.674 83.569 19,997 14,819 3.406 3.406 21,(KXI 118.385 Expenditure Investment management C05t5 Charitable aitivitie5 4.301 183,607 4.301 185.380 4.513 137,224 1.773 Total expondilufe 187,908 1.773 189,681 141.737 Plet Income I lexpendrturel 183.6401 1.633 161.(K)71 123.3521 Transfers between lunds 83.640 11,6331 182,W71 Other recogni5￿ gains I Ilosstsl Net gains I11055esl on invÈstment5 Gain on disposal Df property 37.588 69.443 37,588 69,443 115.8561 Net rnDvernent in fund5 46.024 46.024 139.2081 Balance brought forward at 15eptember 2023 3.1(A) 575.412 578.512 617,720 Balante carried for*Jard at 31 Augu512014 3.1(M) 621.436 624.536 578.512 The noteson pages 11 to 161orm part of ihese finarKial ttatements. St Margaret's Episcopal Church Balanre Sheet A5 at 31 August 2024 2024 2021 Fixed assets Hvrirable property Inve5tfnenis ai market value li 86.973 469,935 5SI,460 551,460 556,908 Cur¥ent assets Debtors Cè5h at bank and in hand 10.857 63.4CK) 74,257 9,369 13.626 22,995 14 Creditors. amount5 falling due within one year 15 1.181 1,391 Net currwt assets 73,076 21,604 Total 45sets ￿$$ liabilit*s 624 $36 578,912 Fund5 Endowmentfund Restrirted funds UnrestriciÈd fund5 17 16.17 17 621.436 3.100 575.412 3.1 Total funds 624,536 578.512 These linancRI statement5 were approved by the fflernber5 of the Vestry on 12 November 2024. 5sgned on b¢half of the mEmber5 01 the Vestry io St Margaret's Episcopal Church Notes to the Flnancial Statement5 for yeor ended 31 August 2024 l. Accounting Policies Basis of prepurotion offinanciol 5toternent5 The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments, and in accordance with the Charitie5 and Trustee Investment (Scotlandl Act 2005. the Charitie5 Accounts Iscotlandl Regulations 2006, Accounting and Reporting by Charib"e5-. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland IFRS 1021 leffective 113nuaiy 20191, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. The ch3rity constitutes a public beneh't entity as defined by FRS 102. Going concern The fi'nancial Statements have been prepared on the going concern basis due to the strong net assets position that Is reflected in the balance sheet as at 31 August 2024. Income All voluntary income and investment income 15 accounted for when received. Tax recovered on Gift Aid and investment income is accounted for on the accruals basis. Fees, rental income, other income and bank interest are accounted for on the accruals basis. Legacies are accounted for in the period when the arnount receivable can be measured with sufficient reliabilitv. Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for the expenditure. All costs have been directly attributed to one of the financial categories of resource5 expended the SOFA. The Charity is not registered for VAT and accordingly expenditure is shown 6ross of irrecoverable VAT. Investment5 Investments are stated at market valLJe in accordance with the Statement of Recommended Practice for charities. Realised and unrealised investment gains and losses are charged or credited to the SOFA, and are accounted for within unrestricted fund5. Tangible FixedAssets In the case of material expenditure on oftice equipment, depreciation is provided at 20% on the Straight line basis in order to write off each asset over its estimated useful life. Otheiwise equipment is written off in the year of purchase. Computer equipment is written off in the year of purchase. No depreciation is provided on property. It is the polscy of the church to maintain the property it owns to such 3 Standard that the property will have an infi'nite useful life. The Vestry con5ider5 It inappropriate to include a figure for the church building and rectory in the financial statements as these are vested in a separate body of trustees. All of the buildings are insured for £20.950,000 IchLtrthl plus £1,085,304 Irertoryl, total £22,035,304. Pen510nS The church subscribes to the defined contribution scheme for clergy operated by the Scottish Episcopal Church. li St Margaret's Episcopal Church Notes to the Financial Statement5 Icontinuedl for yeor ended 31 August 2024 FinonciÉ71 instruments The charity only has financial assets anil linancial liabilities of a kind that qualify as basic financial instruments. B351c financial instruments are initially recognised at transactr'on value and subsequently measured at their settlernent value. Gifted Property Where heritable property 15 gifted to the church, it is valued at the date of the gift and the valuation is incorporated in the accounts by being credited to the endowrnent fund. Statement of FinLTnciul Activitie5 For the purpose of the Statement of Financial Activities a5 shown on p3ge 9, funds are defined as follows.. U nie5trirted funds comprise gifts and other incorne received lor the objects of the church without further 5pe£ilied purpose and are available a5 general funds. Restricted fund5 comprise Eifts and other income received for Spending on specified purposes as laid down by the donors. The Endowment fund represents those assets which are intended to be held perm3nently bv the church, principally investments. Part of the amoLJnt invested 15 expendable, that is the capital can be converted into income, at the éi5cretron of the members of the Vestry. 5ncome arising orn the endowment fund can be used in accordance with the objects of the church and is included a5 unrestricted income. 2. Explanation of funds The various funds are held for the following purposes=_ Unrestricted funds Generolfund To support the work of the church. Restricted funds Fobricfund To fund major fabric repairs. The remaining balance in the fund at the year end represent5 money earmarked for the repair of decorative mosaic work within the church sanctuary. St CecilioAund To subsidise the musical education of young choir member5. Endowment fund To ietain those assets which are intended to be held permanently. 12 St Margaret's Episcopal Church Notes to the Financial Statements Icontinuedl for the year ended 31 August 2024 Donatton5 and Legac¢e5 2024 2023 Unrestricted funds 45,621 3.902 14.834 2,230 3.371 237 682 47,416 3,016 15,647 6.890 9,696 250 654 83,569 Ordinal¥ offerings Incorne tax arising on freewill offerings and gift aid Gift day ather incorne Sunday toncert5 Total Donations etc- Unre5trirted funds 70.877 Efidowment lurtds Legacies 21,CQD Incornelrom charitatrle activitles Uniestricted fund5 Oonalions for hall use I cornmunity atti¥itie5 Weddings and funerals 17.554 990 12,955 1,981 14.936 18,544 Restrirted funds Property Income Lightin8 Appeal 2,780 626 5.061 Total income from rharitable activitie5 21,950 19,997 Expenditure on charitable actl¥hies Staff costs Dirert cost5 Total 2024 Total 2023 UTriestrirted tund Wage5. salaries, stipends and clergy expen5e5- Note 10 Diocesafi quot3 Printing and Stationery Photocopier and computer expenses Fèbiic repair5 and rnaintenance- church Fabric repairs and maintenance- Tectory Council tax and water rate5 Insurance Heal and I18ht Telephone 70,309 70.309 15.081 564 2,095 34,630 28,393 3.806 8,998 13.(X)I 834 904 B27 64,743 14.212 350 1,695 21,425 15,081 564 2.095 34.630 28,393 3.806 8,998 13,QOI 834 904 827 3,683 8,876 11,67D 3,396 1.509 855 Choir and organ maintenance Choral stholars sunday schtK)l and Holiday Club General expenses Professional fees Independpnt Exaffliner's fee ExpÈnditure- Uniestricted funds 2,772 343 1,050 113.298 2,772 343 1,050 183.607 3.209 319 1.002 136,944 70.309 ResETlrted funds 1,773 1,773 1,773 1.773 225 215 Expenditure- Restrirted funds Tolal charitable eKpenditurÈ 7Q,309 115,071 185.380 137,169 13 St Margaret's Episcopal Church Notes to the Financial Statements Icontinuedl for the yet7r ended 31 August 2024 Specific income disbursed Ouring the year there were 5peci31 collertion5 as follows.. 2024 2023 55PCA Aberlour Ichristingle Se￿I(el 815hop's Lent Appeal. Friends of the Holy Land IMother5' Union Away From It All proiectl 60 322 54 165 120 283 140 404 377 116 251 Medecins Sans Frontieres Mission to Seafarers Palestine Aypeal 1,505 667 2.794 Wawerley Care 1,670 These funds, which are not reflected in the accounts, have beeri remitted to the charitie5 concerned. Transfer5 between funds The deficit for the year on the General Fund has been met a5 to El,633 frorn the Fèbrii Fund. with the balance of f 82,007 coming from the Endowment Fun(1 Net Kains11055es on inveatmÈmts 2024 2023 Realised Unrealised 3,220 34,368 37.588 13,2101 112,6461 115.8561 Taxation The church has been accepted a5 a registered charity by HM Revenue and Cu5torns. Accordingly no113bility to taxation arises 85 311 of the Intom? and gains fall within the Ihe e¥ernptions frotn taxation contained In 5ectlQn5 466 to 493 of the Corporation Tax Act 2010. 10. Employee5 The Rettor. who 15 a Trustee, receives a stipend, the amount of which is included In the staff costs figure in Note 5. The average nurriber of employees dur1nB ihe year was 312023- 31- The members of the vestry did not receive any pxpen5e5 in the yeèr12023- £ Nlll. 11. Heritable Property I 14 St Margaret's Episcopal Church Notes to the Financial Statements Icontinuedl for the year ended 31 August 2024 11. HorItsb￿ Proptrty Cost as at i September 2023 86,973 Procteds of Sale January 20141 r*t of èxpomesl 156.416 G3iN on sale 69.443 The property was bou8ht in 2CQI as a flat for the use ol a church curate. and was shown In rhe accounts at lust As the church has not had a full Iirne £uiaie foi Some years. the fiai hasbèen iented out and wa5 Was 501d In January 2024. Iz. Invtstments held as fix*d assets UK Quated Securities & Goveinmenl 5t¢Kks 1024 102J Market V41ue a5 at I Sepiernber 2023 dditlON5 In year at cost Disposals in year- at market value bl￿d 469,935 ?(Kl.017 1152.8601 517,092 34.368 551,460 506.412 53.471 177.3021 482.581 112.6461 469,935 Net unreali5ed gain I Ilossl on rtvaluation at 31 Auiust Z024 Marlet value as at 31 A￿uSt 2024 13. Debtorn 2024 2023 Tamation recoverable on investments Ind gift aid PrÈp•ymenis 3,Jll 7,546 10,857 2.604 6,765 9,369 All amotlnts are due wilhin one ¥eat 14. Cash ai bank and In hand 2024 202J Bank current attount Dirert business account Fund5 Wlth 5tockbrokÈ 3.129 50,893 9,378 63,4LX) ?,965 .045 2,626 13,636 Is St Margaret's Episcopal Church Notes to the Financial Statement5 Icontinuedlfor the yeor ended 31 August 2024 15. Cieditors: amounts falling due wthin one yeai 2024 2023 Sundry creditors and accruals 1.181 1,391 16. Movement In funds OpeninR Balante G31ns and losses Closin8 Balance Inctyne Expenditu Transfers Unrestrirted lufids 104,26B 1187,9)81 83.640 Re5trfcted lunds 3.406 11.7731 11.6331 1,800 1.3(H) St Cecilia fund Endowrnent lund 575.412 182.1x171 I07,031 621.436 578,512 128.674 1189.681 107,031 624.536 Market value as al I Septefflber 2013 Unr2stricted fvnds Unrtstrlcted fvnds 113,324 1141.5121 28.188 Fabric fund St Cecilia lund 1.8 5.061 12251 14.8361 1,800 1.300 Endowment lun41 614,620 123,3521 115.8561 575.412 617.720 118,385 1141.7371 115,8561 578,512 17. Analysis of net assets betwe¢n fufids Unre5trirted Restricted Éndowment fvnds lunds lund Total 8alance at 31 AuÉus¢ 2024. per sratement of Finantial Acli¥itie5 3,ILMJ 621.436 624.536 Represented bv.. Tan8ible fixed assets Investrnents Nei currÈni a$5et5 551.460 69,976 551,460 73,076 3.IC(I 3.100 621.436 624.53S 16