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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Annual Report and Financial Statements for the year ended 30 September 2025
Scottish Charity No. SC010443
188 NorthMitchell Street,Street. Glenrothes,Leven, Fife FifeKY8 KY74H) SNA01333 015924 ¢ 38 ee Pnwww.patersonboyd.com PATERSON BOYD & CO
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy Year ended 30th September 2025
| Pages | |
|---|---|
| Contents | |
| Report of the Vestry (Trustees' Annual Report) | 1lto4 |
| Independent Examiner's Report to the Members of the Vestry | 5 |
| Statement of Financial Activities | 6 |
Statement of Financial Position |
7 |
| NotestotheAccounts | 8to13 |
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Report of the Vestry (Trustees’ Annual Report) Year ended 30th September 2025
The Vestry is pleased to present the annual report and financial statements for St Peter's Episcopal Church, Kirkcaldy for the year ended 30th September 2025. St Peter's is a small friendly congregation whose objective is to advance the mission of the Chnstian Church through worship, service and fellowship. In 2023, St Peter's amalgamated their registered charity with that of St Mary & St Leonard, Kinghorn where there is no longer a building This Annual Report and Financial Statements present a summary of our financial activities during the year and an overview of the general activities which have taken place in the life of the Church in the past year Reference and Administrative Information Scottish Charity Registration Number S$C010443 Principal Office St Peter's Church Townsend Place Kirkcaldy KY! 1HB
This Annual Report and Financial Statements present a summary of our financial activities during the year and an overview of the general activities which have taken place in the life of the Church in the past year
Members of the Vestry (Trustees)
Ministry Team: Paterson Boyd & Co Chartered Certified 18 North Street Glenrothes File KY75NA Bankers Royal Bank of Scotland 23/25 Rosslyn Street Kirkcaldy KY! 3HW
Chartered Certified Accountants 18 North Street
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Report of the Vestry (Trustees' Annual Report)
Year ended 30th September 2025
Structure, Governance and Management
St Peter's is an unincorporated association, governed by constitution. As a member congregation of the Diocese of St Andrews, Dunkeld and Dunblane in the Scottish Episcopal Church, it is governed by the Canon Law ofthe Scottish Episcopal Church. The management team of the Church is known as the Vestry. For the purposes ofcharities law, the members of the Vestry are the Charity Trustees of the Church. Details of the Vestry members are given on page 1.
Recruitment and Appointment of Trustees
Apart from the Rector, ordinary Vestry members are elected by the congregation in annual meeting. Vestry members usually serye for a term of 5 years. The Rector is appointed by the Vestry and the Bishop of the Diocese.
Objectives and Activities
The objectives of the Vestry are:
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To advance the mission ofthe Christian Church through worship, service and fellowship.
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- To grow and develop our members’ spirituality. * To attract new Church members. + To continue practicing a “Welcoming Congregation”.
Achievements and Performance
Three services per week are maintained, with additional services at Christmas, Easter and major festivals. The Church has three regular hall lets, with a number of additional casual lets, and some of the car park is let to regular and one off lets. A number of neighbouring premises have asked to use the car park on occasion and this has been agreed.
The Church continues to benefit from the support of members of the congregation in many tangible ways and is grateful to all concerned. No marriages, five funerals, no baptisms and no confirmations have taken place throughout the year.
Revd Canon Christine Fraser is the full time Rector at St Peter's.
Risk Management
- The member ofthe Vestry consider the following to be the main risks facing the charity: 1. The age profile of the members remains high at the older end of[the][scale.][In][the][future][this][could][affect][our][income][streams.] 2. The size and age ofthe premises mean that there is a risk that a large repair may be required. 3 The increased regulatory framework in a range of areas from child protection and data protection to health and safety and ~* employment places a big responsibility on volunteers. 4. Oneofthe results ofthe third risk is that it is vital that we find volunteers with the skills and competence to carry out these tasks.
The members ofthe[Vestry][are][taking][the][following][steps][to][mitigate][these][risks:]
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The average age of the congregation, in line with other churches, is increasing every year so we are encouraging more members to become more active.
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As noted below in the reserves policy, the members of the Vestry have ensured that adequate reserves are in place to enable the Church to cope with the expenses of unexpected repairs.
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The Trustees ensure that they keep up to date with all current regulations as regards child protection, health & safety and employment law and adopt any recommended changes to procedures required.
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Report of the Vestry (Trustees' Annual Report) Year ended 30th September 2025
Financial Review
Results The Church relies heavily on congregational giving for most of the day-to-day funding. Revenue from hall lets has increased from £3,245 to £3,965 while car parking has remained static. Unrestricted funds at the year end total £476,308 (2024: £466,157) and restricted funds are £15,905 (2024: £14.911) totalling to £492,213. Overall reserves have increased by £11,145 over the year.
Reserves Policy
St Peter’s reserves fall in to the category of unrestricted and restricted funds. Unrestricted funds can be spent on any relevant activities, restricted funds can only be spent on a defined activity. The Vestry has adopted a policy of trying to maintain a level of unrestricted reserves such that in the event of a significant drop in income or significant increase in unexpected expenditure, the Church would be able to maintain its current level of activities for a reasonable period until replacement funding is obtained.
Investment Policy
Monies which are not needed for day-to-day expenditure are/will be invested in a number of areas. The Church has an ongoing investment in the Scottish Episcopal Church Unit Trust Pool administered by Baillie Gifford. The investment policy of the UTP is to earn a return on the assets over a long term sufficient to maintain the real value of the distribution to unit holders. The UTP has developed an ethical investment policy under the auspices of The Scottish Episcopal Church, and are invested in UK equities. The investments which will be managed by Cairn Independent, will follow the Scottish Episcopal Church Investment Policy, although not necessarily invested in the UTP pool.
Relationship with Diocese and Province
St Peter’s is supported by the Diocese and the Province through the pastoral oversight of the Bishop, central support functions provided at Diocesan level, and grants, if required, from central funds. The Church is represented at Diocesan level by the Rector and Lay Representative. As a member of[the][Scottish][Episcopal][Church,][St][Peter’s][has][an][obligation][to][contribute][to][the][costs][of][ the][Diocese][and] the Province through payment of an annual “quota”. This amount is based on the relative level of income of the Church with that of other Churches in the Diocese and Province.
Statement of Responsibilities of Members of Vestry
The Vestry is responsible for managing and safeguarding the assets of the Church and assisting the Rector in matters affecting the spiritual welfare of the congregation. They are also responsible for keeping proper accounting records and ensuring that the Accounts are prepared in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006(as amended). The Vestry regularly considers the risks faced by St Peter’s and ensures that appropriate risk management procedures are put in place to mitigate this. The Charity Trustees are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Charity Trustees to prepare financial statements for each financial year which showa true and fair view ofthe state ofaffairs of the Charity and of the incoming resources and application of resources, of the Charity for the period. In preparing the financial statements the Trustees are required to:
- Select suitable accounting policies and then apply them consistently; * Observe the method and principles in the applicable Charities Statement of Recommended Practice; * Make judgements and estimates that are reasonable and prudent; * State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; * Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operational existence.
8
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Report of the Vestry (Trustees’ Annual Report)
Year ended 30th September 2025
Statement of Responsibilities of Members of Vestry (continued)
The members of the Vestry are responsible for the maintenance and integrity of the charity and financial information on the congregation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from the legislation in other jurisdictions
Approved by the members of the Vestry and signed on their behalf:
ae “es
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Independent Examiner's Report to the Members of the Vestry of St Peter's Episcopal Church with St Mary's and St Leonard's
Year ended 30th September 2025
| report on the accounts of the charity for the year ended 30 September 2025, which are set out on pages 6 to 13
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act and to state whether particular matters have come to my attention, Basis of independent examiner's statement My examination is carried out in accordance with Regulation 11] of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records, It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit Opinion on the view given by the accounts
Basis of independent examiner's statement
In the course of my examination no matter has come to my attention:
l which gives me reasonable cause to believe that in any material respect the requirements
-
e tokeep accounting records in accordance with Section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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¢ to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
Paterson Boyd & Co
Chartered Certified Accountants 18 North Street
GLENROTHES Fife
KY75NA
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Statement of Financial Activities for the Year ended 30th September 2025
| Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted z Funds |
2025 | 2024 | |||||
| Notes | { | £ | ||||||
| Incoming resources | ||||||||
| Incoming resources from generated funds | ||||||||
Donations & Legacies |
4 | 38.410 | - | 38,410 | 35,692 | |||
| Receipts from fundraising activities | 5 | 1,936 | - | 1,936 | 2,100 | |||
| Investment income | 6 | 10,592 | 259 | 10,851 | 2.828 | |||
| Other income | - | 10,000 | 10,000 | 10,000 | ||||
| Total incoming resources | 50,938 | 10,259 | 61,197 | 50,620 | ||||
| Resources expended | ||||||||
| Investment management costs | 7 | 2,356 | - | 2,356 | - | |||
| Charitable activities | 8 | 61,680 | 10,000 | 71,680 | 97,051 | |||
| Total resources expended | 64.036 | 10,000 | 74,036 | 97,051 | ||||
Net income / (expenditure) |
ee | (13,098) ee |
259 ae |
ee | (12,839) a |
(46,431) Sa |
||
| Unrealised gain/(loss) on revaluation | 15 | 23,249 | 735 | 23,984 | 8,339 | |||
| Net movement on funds | ——_———— | 10,151 | 994 re |
(a | 11,145 | ———$— | (38,092) | |
Fund balances at |
October 2024 | 466,157 | 14,911 | 481,068 | ||||
| Fund balances at 30 September 2025 | 476,308 —EE—E—EE |
15,905 —————_——————————— |
492,213 ae |
481,068 Pl ___oF |
The statement of financial activities includes all gain and losses recognised in the year. All income and expenditure derives from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
6
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Statement of Financial Position as at 30 September 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 15 | 392.653 | 365,100 |
| CURRENT ASSETS |
|||
| Cash at bank | 106,135 | 117,468 | |
| 106,135 | 117.468 | ||
| CREDITORS | |||
| Amounts falling due within one year | 16 | 6.575 | 1,500 |
| Net Current Assets |
99.560 | 115,968 | |
| NET ASSETS | 492,213 | 481,068 | |
| Funds of the Charity | |||
| Unrestricted Funds | 476,308 | 466,157 | |
| Restricted Funds | 15,905 | 14,911 | |
| PFOTALCHARITYFUNDS | 17 | 492,213 | 481,068 |
The financial statements were approved by the Vestry and authorised for issue on 23 December 2025 and are signed on behalf of the Vestry by
rhe notes on pages 8 to 13 form part of these financial statements
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Notes to the Financial Statements for the Year ended 30 September 2025
1 General information The Charity is a public benefit entity, registered as a Charity in Scotland. The address of the principal office is Townsend Place, Kirkcaldy, KY1 1 HB.
2 Statement of Compliance
These financial statements have been prepared in compliance with FRS102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)Charities SORP(FRS102)) and the Charities and Trustee Investments (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).
3 Accounting policies
The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below.
Basis of Preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
Income
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Investment income relates to interest on bank deposits, unrealised gains and losses on investments, and investment dividends. Investments and Endowments are shown at market value and unrealised gains and losses are included in the Statement of Financial Activities.
Expenditure
Liabilities are recognised as expenditure as soon as there 1s a legal or constructive obligation committing the Charity to that expenditure, 1t 1s probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources:
Investment
Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year.
Taxation
The Charity is exempt from tax on income and gains falling within section 505(1) of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The Charity is not registered for VAT and expenditure therefore includes irrecoverable input VAT.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the members of the Vestry.
Restricted funds are funds which are used in accordance with specific restrictions imposed by the donor or trust deed.
8
,
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Notes to the Financial Statements for the Year ended 30 September 2025
3 Accounting policies (cont'd)
Going concern
There are no material uncertainties about the Charity’s ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgments, estimates, and assumptions that affect the amounts reported. These estimate and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
4 Donations & Legacies
| Unrestricted = Funds |
Total Funds 2025 |
Unrestricted ei Funds |
i Total |
Funds 2024 | ||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Congregational Giving | 22,357 | 22,357 | 21,001 | 21,001 | ||
| Gift Aid | 4,597 | 4,597 | 5,642 | 5,642 | ||
| For use of hall | 3,965 | 3,965 | 3,245 | 3,245 | ||
| For use of car park | 233 | 233 | 204 | 204 | ||
| For funerals and baptisms | 450 | 450 | 900 | 900 | ||
| Fabric fund | 51 | 51 | 25 | 25 | ||
| Other donations | 6,257 | 6,257 | 4.675 | 4,675 | ||
| Legacy | 500 | 500 | - | - | ||
| 38,410 | 38,410 | 35,692 | 35,692 | |||
| 5 | Receipts from fundraising Activities | |||||
| Unrestricted 5 Funds |
7 Total Funds 2025 |
Unrestricted Funds |
= Total |
Funds 2024 | ||
| £ | £ | £ | £ | |||
| Raffles | 89 | 89 | 99 | 99 | ||
| Coffee Mornings | 814 | 814 | 591 | 59] | ||
| Social Events | 498 | 498 | 395 | 395 | ||
| Magazine income | 375 | 375 | 525 | 525 | ||
| Exercise Classes | 160 | 160 | 490 | 490 | ||
| 1,936 | 1,936 | 2,100 | 2,100 | |||
| 6 | Investment Income | |||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 2025 | 2024 | |||
| £ | £ | £ | £ | |||
| Bank Interest | 4,667 | 259 | 4,926 | 2,828 | ||
| Income from listed investments | 5,925 | - | §,925 | . | ||
| 10,592 | 259 | 10,851 | 2,828 | |||
| 7 | Investment mgmt costs | |||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 2025 | 2024 | |||
| £ | £ | £ | £ | |||
| Other investment management costs | 2.356 | - | 2,356 | - | ||
| 2,356 | - | 2,356 | - |
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Notes to the Financial Statements for the Year ended 30 September 2025
8 Expenditure on charitable activities by fund type
| 8 | Expenditure on charitable activities by fund type | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| Charitable activities | 59,582 | 59,582 | 60,618 | 60,618 | |
| Grants awarded | - | - | - | - | |
| Support costs | 12,098 | 12,098 | 36,433 | 36,433 | |
| 71,680 | 71,680 | 97,051 | 97,051 | ||
| 9 | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Support Costs | Total 2025 | Total 2024 | ||
| directly | |||||
| Clergy and ministry costs | 52,360 | 10,523 | 62,883 | 89,119 |
|
| Worship costs | 249 | - | 249 | 121 | |
| Quota | 6,973 | - | 6,973 | 6311 | |
| Governance costs | - | 1,575 | 1,575 | 1,500 | |
| 59,582 | 12,098 | 71,680 | 97,051 |
Resources expended on charitable activities include direct costs, grants awarded and support costs. Support costs, which relate primarily to costs associated with running the church buildings, are attributable to more than one category. These costs have been apportioned to the specific categories based in proportion with the direct costs.
10 Analysis of support costs
| 10 | Analysis of supportsupport costs | |||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total | 2025 | Total | 2024 | ||
| Repairs & Maintenance | 2,883 | 2,883 | 18,674 | |||
| Publications | 482 | 482 | 259 | |||
| Professional Services | - | - | 4.457 | |||
| Office Expenses | 2.116 | 2,116 | 3,268 | |||
| Insurance | 1378 | 1,375 | 1,337 | |||
| Diocesan | 135 | 135 | 432 | |||
| Heat& Light | 3,476 | 3,476 | 6,506 | |||
| Other Costs | 56 | 56 | - | |||
| Governance costs | 1,575 | 1,575 | 1,500 | |||
| 12,098 | 12,098 | 36,433 | ||||
11 |
Independent examination fees | |||||
| 2025 | 2024 | |||||
| £ | £ | |||||
Fees payable for the Independent Examination ofthe financial statements |
L575 | 1,500 | ||||
| L575 | 1,500 | |||||
| 12 | Quota |
Quota is paid by St Peter's to the Diocese of St Andrews to support the work of the Diocese and of the Scottish Episcopal Church as a whole.
10
St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Notes to the Financial Statements for the Year ended 30 September 2025
13 Staff Costs and Numbers
There are no employees in the church and the above stipendiary members of the clergy are not technically employees but office holders.
14 Trustee remuneration, benefits and expenses
Except for the Rector, no member of the Vestry received remuneration or reimbursement of expenses, other than reimbursement of purchases made on behalfof the church. The Rector is ex officio a member of the Vestry and a trustee, and receives remuneration, benefit$ and reimbursement of expenses in respect of services as stipendiary cleric in line with scales determined by General Synod of the Scottish Episcopal Church.
| 15 | Other Investments | ||
|---|---|---|---|
| Investments | Total | ||
| £ | £ | ||
| Cost or Valuation | |||
| At I October 2024 |
365,100 | 365,100 | |
| Additions | 53925 | 5,925 | |
| Disposals | (2,356) | (2,356) | |
| Fair value movements | 23,984 | 23,984 | |
| At 30 September 2025 | 392,653 | 392,653 | |
| Impairment | |||
At |
Oct 2024 and 30 Sep 2025 | f QS |
|
| Carrying Amount | |||
| At 30 Sep 2025 | 392,653 | 392,653 | |
| a | |||
| At 30 Sep 2024 | 365,100 | 365,100 SET |
Part of St Peter's investments are held by the Scottish Episcopal Church Unit Trust Pool. The Unit Trust Pool was established by the Investment Committee of the General Synod to bring together the disparate investments of the various funds of the General Synod, the Dioceses and the individual congregations of the Church to enable these to be managed professionally. The Unit Trust Pool is therefore purely an investment vehicle of the Scottish Episcopal Church. The majority of the investments in the Unit Trust Pool relate to UK investments. The remaining investments are held and managed by Charlotte Square Investment Managers. All investments shown above aré held at market value at the year-end date.
16 Creditors: Amounts falling due within one year
Accruals
==> picture [108 x 60] intentionally omitted <==
----- Start of picture text -----
2025 2024
£ £
1,575 1,500
1,575 1,500
ee TT
----- End of picture text -----
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
| Notes to the Financial Statements for the | Notes to the Financial Statements for the | Notes to the Financial Statements for the | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year ended 30 September 2025 | ||||||||||
| 17 | Analysis ofCharitable Funds | |||||||||
| Atol October 2024 |
Incoming resources |
Resources exneniiel *P |
Unrealised . gainsand lo ses |
Transfer between funds |
At 30 September 2025 |
|||||
| 3 | £ | £ | £ | £ | £ | |||||
| Unrestricted funds | ||||||||||
| General fund | 464,312 | 50,938 | (64,036) | 23,249 | - | 474,463 | ||||
| Fabric fund | 1,845 | - | - | - | - | 1,845 | ||||
| 466,157 | $0,938 | (64,036) | 23,249 | - | 476,308 | |||||
| es | ee | EE | ees | eae | OE | |||||
| Restricted funds | ||||||||||
| Endowment fund | 6.480 | 2 | = | = | - | 6.480 | ||||
| Supend fund | 1.468 | 10,259 | (10,000) | 735 | - | 2,462 | ||||
| Galloway Bequest fund | 6,963 | - | - | - | - | 6,963 | ||||
| —— | 14,911 | 10,259 | (10,000) 735 . aod |
15,905 ee |
||||||
| Totalfunds | ~481,068 So |
«61,197.——S=S=«(74086) Oe ee |
492,213 | |||||||
| Atol October 2023 |
. Incoming eanunce |
Resources ‘eneniled *P |
Unrealised . gainsand lo ses |
Transfer between funds |
At 30 . September 2024 |
|||||
| £ | £ | £ | £ | £ | £ | |||||
| Unrestricted funds | ||||||||||
| General fund | 503,689 | 40,392 | (87,051) | 7,282 | - | 464,312 | ||||
| Fabric fund | 1,845 | - | - | - | 1,845 | |||||
| 505,534 40,392 ee |
(87,051) Oe |
Oe | 7,282 e, |
- 466,157 _eee |
||||||
| Restricted funds | ||||||||||
| Endowment fund | 6,480 | - | - | - | - | 6,480 | ||||
| Stipend fund | 183 | 10,228 | (10,000) | 1,057 | - | 1,468 | ||||
| Galloway Bequest fund | 6,963 | - | - | - | - | 6,963 | ||||
| 13,626 ee sc |
10,228 ecSe |
(10,000) 1,057 - 14,911 Se |
||||||||
| Total funds | 519,160 SEE |
—50,62097,051) 889 en |
481,068 |
Funds
Unrestricted funds are available for use at the Vestry's discretion in furtherance of the Church's objectives; restricted funds are those given for specific purposes. Designated funds are unrestricted funds that have been allocated for a specific purpose by the Vestry.
St Peter's has five funds:
Unrestricted funds: : Funds held for the general work of the Church. The value of all capitalised improvements and additions ta General Fund = 3 : z Church buildings are held in the general fund. Fabric Fund Specific funds set aside by the Vestry for the general maintenance of the Church buildings (including the Rectory). Restricted Funds: Endowment fund Specific funds given by the endowment funds of the Diocese of St Andrews to be put towards the purchase of an audio system for the Church. Stipend Fund Amounts received from the St Peter's Capital fund towards the Rectors Stipend.
Galloway bequest Fund — Money is received from the investment fund and paid to the Rector in accordance with the Bequest.
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St Peter's Episcopal Church with St Mary's and St Leonard's, Kirkcaldy
Notes to the Financial Statements for the Year ended 30 September 2025
18 Analysis of Net Assets between Funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | |||
| Investments | 383,925 | 8,728 | 392,653 |
| Current Assets | 98.958 | 7.177 | 106,135 |
| Current Liabilities | (6,575) | - | (6,575) |
| Net Assets | 476,308 | 15,905 | 492,213 |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | |||
| Investments | 357,107 | 7,993 | 365,100 |
| Current Assets | 110,550 | 6,918 | 117,468 |
| Current Liabilities | (1,500) | - | (1,500) |
| NetAssets | 466,157 | 14,911 | 481.068 |
19 Related Parties
During the year, one Trustee received reimbursement ofexpenses totalling £45,218. Of this, £42,294 related to the Rector's stipend, £1,963 to pay council tax and £961 for travelling expenses.
20 Future Commitments
At the balance sheet date, the Vestry had authorised no future commitments.
21 Volunteers
The congregation benefits from the contribution made by volunteers who give their time and talents willingly for the benefit of the Church. The areas of congregational life which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown
22 Collections for Third Parties
| Collections for Third Parties | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| z | £ | |||
| Bishop's Lent Appeal | we) | 116 | ||
| Mission to seaf’ | 100 | - | ||
| Christian Aid | 169 | - | ||
| Aberlour Childcare Trust | 155 | 100 | ||
| 599 | 216 |
13