Registered Charity No: SCO10781
The Black Isle Charge
Accounts for year ended 30 September 2024
Administrative Information
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Principal Address:
Charity Trustees (Vestry Members)
Lay Reps
Alt Lay Reps
Honorary Treasurer
Bankers Bank of Scotland 2 — 6 Eastgate Inverness IV2 3NA Independent Examiner ae
Annual Report of the Members of the Vestry
The members of the Vestry are pleased to present their annual report together with their financial statements for the year ended 30" September 2024.
Structure and Governance
In terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, the Vestry reports to the congregation as follows.
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The Black Isle Charge is a registered Scottish Charity (SCO10781) 2. It is a member of the Diocese of Moray, Ross and Caithness of the Scottish Episcopal Church and is in full communion with the Anglican Church.
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The superior authority is the Bishop of Moray, Ross and Caithness 4. Allof its affairs are governed by the Vestry Members
Appointment of Vestry Members
Vestry members are elected or appointed by the Annual General Meeting established by constitution and under Canon Law of the Scottish Episcopal Church. There is no formal induction programme for Vestry Members but ongoing guidance is given, through the Vestry Secretary passing on information, to ensure that Vestry members are familiar with the Church’s values, aims and responsibilities as the designated trustees of a charity. All members of the Vestry have signed a Declaration stating that they are not disqualified from acting as a charity trustee in terms of Section 69 and 79 of the Charities and Trustee investment (Scotland) Act 2005. The signed declarations are held by the Vestry Secretary.
Administrative Structure
It is the duty of the Vestry to manage and safeguard the assets of the church and assist the Rector in matters affecting the spiritual welfare of the congregation. They are also responsible for keeping proper accounting records and ensuring 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. The Vestry considers the risks faced by the Black Isle Charge and ensures that proper risk management procedures are in place to mitigate those risks.
Charitable Objectives and Activities
The Church’s principal activities include public worship in sacrament and prayer, Christian education, charitable work and fundraising for local, national and international needs and social meetings for all age groups within the church and the wider community.
Page 1
Achievements and Performance
etired
As reported in the annual accounts to 30 September 2023, our Rectoretired on 30 September 2023 and, as a consequence, the Charge entered Into an interregnum situation on 1 October 2023 that has continued for the whole of the year 2023-24. The Bishop of Moray, Ross and Caithness, the Hee has acted as Interim Rector during this period.
During the year 2023-24 the full range of services has been maintained byEEEwith the aid of Retired local Priests ~~is~~ Up port by other Priests and Lay Readers from within the Diocese; and Lay readers from within the Charge. A magnificent effort by all concerned. The recruitment process for a new Rector proved longer than anticipated. It began in the spring of 2024 and ~~a~~ was ultimately concluded in mid-September has 2024linkswith tothe Broraappointmentin the Highlands . and the Vestry Committee are very much looking forward to him joining us as Rector on 1 February 2025.
Inevitably with the change of minister, additional work is required in respect of the accommodation provided for the Recto ~~jn~~ Some maintenance work including the upkeep of the garden, are included in the current year’s results. However further redecoration and renovation expenditure is currently being incurred in the 2024-25 financial year. There are also relocation allowances and removal costs. The cost of this work is being funded by savings in costs in the current year arising from the absence of Rector employment costs.
Thanks to the hard work of our team of volunteers from all three of our Churches our Charity Shop based in Fortrose continues to flourish and is well used both by the local community and visitors alike. Other fund raising events were a pre-Christmas coffee morning, an Easter weekend flower display, and the St Boniface Fair event held in Fortrose in August 2024.
In respect of our work for the local Community we have continued to hold a service in the Eilean Dubh care home in Fortrose on the fourth Sunday in every month. The service is ably augmented by members of our small but very committed Church Choir based at St Andrews Church.
The Fortrose and Rosemarkie Friendship Club, which has strong links to St Andrews Church, continues to hold its fortnightly meetings throughout most of the year. The Club visits to the newly constructed small cinema in Cromarty have proved particularly popular.
Our group of volunteers, formed from our three churches, continued to fund-raise throughout the year in aid of Blythswood Care Charity shoe box appeal. This year they filled a record 550 boxes for distribution to needy people in eight European Countries.
It has been a year of significant challenges with the absence of a regular minister. However, with the untiring work of members of the Vestry Committee together with the support by many members of the three congregations, once again we have successfully met all the obligations placed upon us. We are looking forwardimpact on tothe the arrivaloperationalBecameactivities of the 1 FebruaryCharge during 2025 whichthe coming will undoubtedlyyear. have a most beneficial The Vestry Committee are especially grateful for the commitment and stewardship of and the unswerving support of retired Ministers
Page 2
Financial Review
The summary of the receipts and payments, as stated on page 5 of the accounts, shows an overall surplus of £30,372 for the year.
Total income showed a small increase over last year mainly due to a one-off increase in gift aid together with small increases in fund raising and receipts from investments, offset by lower other income levels.
Total expenditure relating to Charitable Activities was £29.802 below last year, reflecting the impact of the interregnum. The savings attributed to the nonpayment of the Rectors emoluments and expenses totalled £40,421. This was offset by higher deputising costs, and essential extra spending on the Rectory to keep it in good order while it was empty. There were also recruitment and initial appointment costs of £3,061 relating to the new Rector. Because of the impact of inflation, the quota charge by the Diocese also increased by a significant 20%
Our net total assets have increased in the year by £35,486 from £40,041 to £75,527. Most of this relates to the surplus for the year of £30,372 coupled with an increase of the market value of our unit trusts of £5114 in the last year. The latter has now recovered much of the losses experienced in September 2022. Much, if not all, of the surplus of £30,372, will be used on the refurbishments to the Rectory is the coming year 2024-25. However, with the expected lowering of interest rates in 2024-25, there should be a continuing modest recovery in the market value of our investments.
The arrival of our new Rector provides the opportunity to prepare budgets reflecting necessary changes for the successful continuation of the Charge. Our costs are unlikely to reduce with the demands of net zero and other essential maintenance improvements evident in all three of our Churches, so our ever-present priority against the backdrop of static and aging congregation numbers, will be to seek more innovative mechanisms for raising income to meet the challenges currently experienced by so many Churches.
Reserves
The Vestry Committee has adopted a policy of trying to maintain a level of unrestricted reserves such that in the event of a significant drop in income, the church would be able to maintain its current level of activities for a reasonable period until replacement funding is obtained. The balance at 30 September 2024 was £70,643. Details are shown on page 6.
Conclusion
The members of[the][ Vestry][ would][like][ to][ thank][all][ those][ who][ contribute][ their][ time,][energy][ and][money] so generously to ensure the continuation and development of the Black Isle Charge as a centre of worship and focus for the community through the three congregations.
behalf of the Trustees
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PY Vestry Secretary
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29 May 2025
Page 3
Independent Examiner’s Report to the Vestry members of the Black Isle Charge
For the Year Ended 30 September 2024
| report on the financial statements of the charity for the year ended 30 September 2024 which are set out on pages5 to 8.
Respective responsibilities of Vestry Members and examiner The Church's Vestry members are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act") and Charities Accounts (Scotland) Regulations 2006 (as amended)("the 2006 Regulations”). The Church's members of the vestry consider that the audit requirement of Regulation 10(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the 2005 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 2006 Regulations. 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 such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention :-
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
~ to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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|---|---|---|---|---|---|---|---|---|---|---|
|TeBlack Isle Charge|
|Statements|of Receipts|and|Payments|for the|Year ending|30|September|2024|||
||||| Notes. restricted Restricted|Total|
|Receipts|a|ae|ee|ee|
|ReceiptsDonations|—|.|7|69,787||069,787,|||5,880|
|Receipts from Fundraising|Activities|===|||8|||10.3810|10,381'|9,689|
|electricityrefunds|
|Other|Income from Investmentsincl.|(includingsales)|||103,6349|1,103,|01,1038,400|4,034|1,0215,622|
|ee|||4|||84,905:|400|85,305)|||82,212|
|PaymentsPayments|—|a|eeee|ee|
|Expenses|Relating to|Charitable|Activities|=|= 11,50,7590,|60,759|80,561|
|GrantsandGovernance for Donations CostsFundraising|Activities)|=|=||112,789)13.218851885~ol|00.|[2,789)]|~O|021|,|180264|
|||||||64,933|0,|54,933|84,005|
|Surplus/|-|Deficit for Year|||||||29,972.|400,|30,372|-1,793|
|___ Theof the notesaboveon|totalspages 7|&|8|form|an||integral part||of these||accounts||and provide further analysis.f|||
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|L
|
Statement ofBalances as at30.September2024
||
|---|
|juNotes
Unrestricted|Restricted
Total
||
|Funds Reconciliation|
aee|
|BalanceatBeginningof Year
st
1,990
4,484,
6,474)
|
8,267
Surplus/-Deficitfor Year|
29,972
400;
30,372;
|
__-1,793
Balance as at 30.09.2024
T
31,962
4,884!
36,846
'
6,474|
|ee
ena
Investments (SEC UnitTrust Pool)
eeen ee
Market value at BeginningofYear
$=§
4
| 33,567)
0]
33,567;|31,833
Disposals
into cashduringyear
ee)es)
Net valuationafterdisposal
|
|
33,567)
0|
33,567)a___31,833
Gain in Market Value in year
es
od14,90
5,114! |1,734
Reduction in Market Value in year
eepe
0
Market ValueatEndofYear
=—=——s ||
Ss
4
|
38,681
038,681,
33,567|
|Total Assets
|
70,643,
4,884)
75,527)
40,041
FundBalances
'dt
~y
| {—oe
At Beginning ofYear|
35,557.
~~-«4,484.~—~—=«40,041|
40,100|
|TotalSurplus/
-Deficit for Year_
|
29,972
400;
30,372)|
1,793
Movement in Investments
5,114)
0
5,114)
1,734
a
aA
ta nN GNCS
Balanceasat30.09.2023
|
70,643
|
4,884
75,527|
40,041|
|Restricted Funds
| eeeea
ee
ee
Balance Brought Forward ee
eea4484000| ci4,394.00
Donations
a d Grants received inyear
|
|
400.00,
|| 1,852.00:
Costs in current year
0.00'
|
1,762.00
>
iITT
SEE
nn
Balance CarriedForward
4,884.00
|
4,484.00|
|Investments
|
|
|
0.00)
a
0.00|
||
et
C8840
|
4,484.00
I
i
1
i
H|
|Thenotesonpages7&8formanintegral partofthese accounts.
StatementoftheTrustees
et)ee
Theaccounts
as laidoutonpages5 to8oftheseFinancial Statementswereapprovedbythea _
BoardofTrustees
on the 29May 2025
0|
|I|
|a
a
a
rs
a
Ce
Signed On Behalfofthe Board
ee|
||
(Page6
|
|
fo|
The Black Isle Charge
Notes to the Accounts for the year ended 30 September 2024
1 Basis of Accounting
These accounts have been prepared on the Receipts & Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
2 Nature and purpose of funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a specific purpose.
During the year a Stewardship Grant of £400 was received and added to the Non Specific General Reserve. The Mission & Ministry balance at 2023 of £195 has been transferred to Non Specific General Reserve. The latter is being maintained to cover any unexpected repair expenditure or for future net zero projects.
The restricted fund at the 30 September 2024 now stands at £4,884 made up as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Non Specific General Reserve | 3,636 | 3,041 |
| WelfareFund | 1,248 | 1,248 |
| Mission and Ministry Strategy Project Balance remaining | 0 | 195 |
| 4,884 | 4,484 | |
| Related Party Transactions | ||
| Following the retirement ofthe Rector ofthe Black Charge | on 30 September 2023, | |
| are no salary, pension orexpenses to report for2023-24. | A new Rector has recently | |
| appointed and will take up his duties in early 2025. | ||
| 2024 | 2023 | |
| £ | £ | |
| Rectors Salary and Pension | 0 | 36,230 |
| Rectors Expenses | 0 | 2,956 |
| 0 | 39,186 |
3 Related Party Transactions
Following the retirement of the Rector of the Black Charge on 30 September 2023, there are no salary, pension or expenses to report for 2023-24. A new Rector has recently been appointed and will take up his duties in early 2025.
No remuneration or expenses were paid to any other trustees, or to any connected persons during the year (2023: Nil).
4 investments (SEC Unit Trust Pool)
The market value of investments at 30th September 2024 has been calculated using the unit price as published on the website of the Scottish Episcopal Church Unit Trust Pool. Unlike previous years there has been no requirements to dispose of investments to maintain adequate cash liquidity and it is hoped that this situation will remain for the forseeable future. The Market Value of our Investments at 30 September 2024 was £38,861 (2023, £33,567).
5 Gift Aid Receipts
During the year claims for gift aid were made on a quarterly basis. This process ensures that a full year of gift aid income appears in any one year. The annual figures also include gift aid on cash payment items below £20 claimed on an annual basis at the end of the fiscal year.
6 Bank Account
The Charge's bank account is held with Bank of Scotland, City Branch, Inverness.
Page 7
|eeee
The BlackIsieCharge| .ee
fe|
|---|
|ul...Notes totheAccounts forthe YearEnded30September
2024 |
im
ee
—
ne ae) a
/
2023—|
|7Donations
es
[Lo
|
____CongregationalGiving,88423eon ae54,883,|
|| __|Wedding/Funeral/Christening Donations=i
400)
0
400:
|
1,396)|
||
69,787/
0;
69,787)
|
—«65,880.|
|8/Receiptfromfundraising activities
|
tiI
|Shop_
| 8915)
08.915)
8644)
____|StBonifaceFair
|
750,750)
Oo
\Other Fund Raising
|
716,
0:
716]
|
1,045)
10,380
10,381)
9,689)
9\investment
income_ee
es
[UnitTrustDividendsee
1,103)
01,103)
|
1,021)
[
7,103
0;
1,103)
|
7,021||
|__ DonationreNewHymnBooks
709| 3)709)
|
0_|
|[RetirementCollectionforRector_j
510)
0
510,2,435)
_ RetirementGift forVestry Secretary
|
T
0;
Oo
0) |
300)
Bishop's
Lenten AppealProceeds | |285
295
| CO=
|St Regulus Carol ServiceDonation|
|
825,
825,
620)
Sundry receipts including refunds
1,019)
0!
1,019, |
1,867)
ee
_
3,634
400,
4,034,
5,622|
|11|PaymentsrelatingtoCharitable Activities_a
i
.(Rector'sEmoluments
0
OL
- O- ___ 37,139]
Rector’sExpenses
|
0
oO)
3,282
Deputising Costs 784
0) 7,784) |
2,920)_
|RecruitmentandAppointmentCosts.
3,061)
8,061
“0|
|_Church Operating Costs
|
| 20,370
20,370)
|.21,193)
Quota-DioceseofMoray|si‘MSCS
C<isCtsCiHB] |
708
CharityShop -operatingcosts2789
2789)
228|
||Bishop's Lenten Appeal Payment
295
205,
~~ |World DayofPrayer
-CollectionPayment
276~~SC~«*O|
276
Oo
Purchase of New Hymn Books - StAndrews
709,
0
709
Otheritems
663,
663, 281
__|Strategy Day- incl FollowUp Meeting Costs
0 aOo1,342,
[StRegulusCleanerCosts| |CO
420,
|[Retirement Giftto Vestry Secretary
|
0
0
0
300)
|
53,548
|
0]
53,548)
82,825,
12 GrantsandDonationsMade
|
ee
[SOMA
200}i
ti
200, |200)
jAdoptaChild
|860)
860)|880)
|St Regulus CarolService Donation|
825
|
0
825]
620,
fo
|
1,385
0
1,385)|
1,180|
|!
i
t|
|13|Governance Costs
0
0
0
0
a
|
i-
||
«|
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ai|