Ch*rlty regtstr4Uon number SC01090318cottandl ST MARYS AND ST PETER'S scorrisH EPISCOPAL CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
ST MARY'S AND ST PETER'S SCOThISH EPISCOPAL CHURCH LEGAL AND ADMINISTRATfvE INFORMATION (Appolnled 14 JanLHry 20241 Charlty n¥mb•r18GOtlandl SC010803 Prlnclyl •ddr• Mld-Lhk8 Angu DD10 8RL Ind•p•nd•nt •xamln•r MLry ThylDrAudl Um•d 10 Murw Lan• Mc¥rtro6• Angui DD10 8LF
ST MARYS AND ST PETER'S ScOlSH EPISCOPAL CHURCH CONTENTS Pag• Tw¥tfjos repcAI lndepeThJl thrnlnefs rewt Note8 to the Ilnartl•F st*rnenl• 7-17
ST MARY'S AND ST PETER'S scorrisH EPISCOPAL CHURCH TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The trustael preB•nt thelr re{ Arby lInaral statem ts th8 yaar 31 2024. finana81 statements Ve tw prepared in ac(xitdance the oc(wnting pdrdès set oth in rth 1 to th& finanual 8t8taments and ComY ¥ith the CCft1m, the Charflle8 arvj Thistee Inveslment {s(and) Act 2005, the Chorfbes ACcnIS Iscoltsnd) Ro9ulab.0r 2006 {a8 amwWJ1) w#J"Ac¢ounting arKI ReportlrrfJ Charit. Stslernent of Reccmmended Pra¢XKe aprAkat to ttharlles woparfng their xc4Xmt8 in Kcordanc vAlh the Flnondal Rewrting Standard 8pplscoble in the UK and Rep11¢ of IreIar {FRS 102)" {a8 annded for aw(x¥rtlng p¢nods ccfflmwJTr3 frum 1 janu 20181 Obfvctlvts and •¢tMII•# The chartys cèiects arn 8stak4i8hed for of l49k)n and to pro4e wblic banefl. Tho chartty prod for a dergyman ba8ed in th8 MontTO8e aro• and th& chwch to be ue•d. OCCLWWJ arnl •nY¥d as a p• cl pjbk wor¥hlp. The thurc Is open to the puNlc d•lty aNI i)Ilers A pFoc ol ¢wt relled. S•Tric ar• thrtlofjd aThJ h•hl In The trLtytets hove paKI du• T•gard to gLddarK• 16wMd ty tho Chaty Ccffinthlon in dgddlng ALll¥lU•8 th• charlty should dert
ST MARY'S AND ST PETER'S SCOThISH EPISCOPAL CHURCH TRUSTEES REPORT ICOMTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 FlnAnclal r•vlow G•n•r•l Fund Over year. tho church made a defic of £t.873 kn thè GerETa FLYKI d•fidt of £11 in the restricted ftmd gwing a total defidt tr the ye¥ of £1.884 12W23 deffi¢it of £5,354). The balan$ 8t the etvj of I y anUnted to £317.2(K) 8plii betrween Ihe G•ner81 lund of£74,758 and the R88lrKl £242,442. Falxlc Fund Th8 F8brlc Fund rixthve8 mongy donated to malntain fabrfe of the curch hJ4dlry in¢ome from Inve8tments. Trls year, OneY was spent on rn1r rwf repairs, and Iwtirg and painting. 8•nwol•nt Fund The BeneVOt Fund 18 use to hd chwllablè donatlons for 8pedfic (¥u888. dOlDn3 to support th? r•Xof8 VIrk In the comrnunty. Roof Fund Tho roof n hold• thè (kjno1h, grants •KI •yp•ndluT8 on Ma rnpalrn ty) Il thLwch roof. H•rltsbl• Prnp•rty Fund The her1tb propety fu hold8 r•rlory and thè Imy0Ment% ff•J• to IL Ornc•r Fund Crè8tod In 2015 •ft 4 rece of £2,822 from former truJtees of the of M8ryJTel and Hen Officer, who 88ttled £4,DW kn trust kn 1973. The Incom• from th fum 18 re8118 lor the purpose of 8Wdm•nting tho 2anlor knMI)eTht sb'poTvJ. Th• CIWI i• wt oftro ivJrctrs Irhn•rrt bAI R•n•w•l Fynd Suppoth SntrothKtlon Oldoctrlc m•dia aTrJ t•chr Inlo ehurth N•t Z•ro Fund The Not Zero Fund was ¢reated t¢ hotd donations rostdthd for the purF#)8e of pP1 ts churca)'6 effort8 Iow4T(1g reduclng tts ¢)n dl heotiig 8rKI r•duung carbon Iwnt. Pollcy on rw•m• The fvnd8 cl ve di¥ldad Into athw•l cat•wAiM. Thorn 18 thè ¥¢str or Gwr•l FurKI, exS8t8 to pay ordinary rufHlng costs reve$ the regular tS)nation8 of membgrn of the church. Achievlng 8urplus in Ihls furKI1s crWc•l lo thè lryylemi mission and vl8blllty of the charity as tt pays for tho reLtor •B well a$ urch 8erMces and wcrfk In Ihe clynmlty. Th? othgr èxi8t ft¥ n8fTth definèd 8pedfic rAKPO8 and • c4lled rÈ6tri¢t0d fund8. Iwor rfBks •nd m•ntyom•nt of thom rknk• The v88try has examnèd major ri8ks the ¢*ch fKe• that nec•5w #ty hev• bgen token lo marw l8k8.
ST MARWS AND ST PETER'S SCOTnsH EPISCOPAL CHURCH TRUSTEES REPORT {coKllNLED) FOR THE YEAR ENDED 31 AUGUST 2024 StruciurO1 governance and mAnagem•nt The cl)8rlty lom p8rt of thè Scotth Eti6•)al euperTCf wthorty cl the Blshop of Brechln. Its lalra ¥• therefc¥e 8ubje¢t to tts Cannon Law of the SD)ttl$h Epw181 Church. as 88 thè Charltlés w)d Trusts¢ Invsstrn•rt IScotl8ndl Aca 2Q05 and the Cha$5 (SCand} R&JUlatn5 2006. Tr ¢Xngregati)n eleeis one Lay Rowasèntatve to the 8yr#>J. Tr hwi18t4e FXOFérty of thurch V&8ted In the trt$S of thè DKc8w of Br8thn dth• Scottrlh Ew8¢wl Clwrch. Th8 reg18t8red 88 8 charity on 21 F&xuy 1939. It is ¢$1li8W g)vemed by its con$titutton was mtsed 8nJ repLqc¢d on 181h Jfft 2010. Under th& con811, vestry 1$ re$pon&trAe for I general maiiayuri¥rit Ynd ol IM rrK¥LYL For the purroses ot the Charllt'es and Twslee Inve8knenl <Scclland)Aa 2006, tr momb¢r¥ of lh• Veltry arg the Ghwty¥ truMap8. Tie Iruslpe8 who Éèrved durin the ear an p to t dllte of th• flrAnclal staterrrts w•re'. (ReJSgned 6 thJn? 2024) IR•dwtsJ 14 Jgrwiry 2D24} (R•9n 14 J•rwry 20241 (Appdnt•d 14 J4nu•ry 2024) Ory•ntutlonil structurn The vè8ty coBists ( the Rectcr and tho Lay Reprosentalve arnl te1W 0j eydht mèmb•r¥ of congrogwon. The v•try apprts a S8crèty a Treasurer are also mrnlxTr ex offKlo. 01 th• •lthd m¢mbefS, at loa61 ts¥o rn1 rotre annuaity. A tl AGIA on 14 Januyy 2024 811 tnt•v• rfjtred t9* vthhout an appolnlrrnnt date h "81•tO¥ vnr¢ rgapwmfA. by the Boyd ofTru•lw Tr•uuv•r
ST MARYS AND ST PEfER'S scorrisH EPISCOPAL CHURCH INDEPENDE[ EXAMINER'S REPORT TO THE TRUSTEES OF ST MARYS AND ST PEfERE SCOThISH EPISCOPAL CHURCH I report thè flnondal slatenKrts of the ctwtty tr th• enO&$ 31 Auw 2024. Thlmch n set oul on pag 5tol7. Rwp•ctlv• r••poMlbllltb•• of IYw8t••8 •nd •x•fflln¢r Thè charity's trvsteé Af• T•8Fonsil)lè for the prepamuon of Ihg fInd•1 •latorneTrts in x¢ordanGe wlih th? torm• of tho Charitsè8 and Trustee Inveytmenls ISo)Ilandl Act 2CrfJ5 and th• Ch•riti08 P£eourrt8 ISu)tFwd) Regulalo 2£. The tharity's trustees rndorI1 the alt re(WiiWMnl of Regulabcfi 10(1}l8l to (cl ofthe 20C6Acownt• Rewdats'ons dr not appty. tt my resrthsbuty to ex8mir th8 fina81 s1gtsmwrt8 as r•oJired urbkr 4411llcl of thèAd and to 8t8te wlwior particjlar maiters come to my att•ntl)n. sl• ol Ind•pond•ni •xamln•f8 •1at•m•rt My eInatIc 1$ camed out In a¢e4rdwce with R•gulat 11 of t 2006 A¢G(xJnls RegUL411CS. An xamlnalon knClUd a reyiew ol Un'rq kept ty thè ttwty and a ¢¢Jrwrison of th8 fr)ancb81 Blatoments prètyenled wth thrAe réc8. M •#0 indue•• con8thr•tth of any kmU8ual Iterns or dl8¢Joswes In thè financial $laterMnts, 4r¥1 •k9 •y4JlAnatb)rn from th[ tru8t•es Cortorning any Such mth. Tha yocedur dertak•n do nol all that bè rnqLNred in an #udrt and conRwu•nly I dc• n¢>t expre0• outht (Virtn on th• ¥1 grlen ty tem•rts. Ind•pond•nt •xamln•¢% Iiatgm¢nt Your attention i¥ ejra to the fact that charlty has prèp¥èd finarKlal 8tat•m•nts in accthun( wlth AcccAmling reporting ty Ch8rlies yepadng their in 3crxlfdc0 vjilh Financlal Rer)Ini SId8[ apF41catl6 kn tft8 UK and Jf Irelane (FRS 1021 in preferenc to the Acc£yJntirg R8portlng ty Charftbes. Stslemenl ol RoDJmwnerKIBd PracV¢¥ 188u&J on 1 Apni z(YJ5 which 18 refrred to In the extsrt rwlatlom but hal now bn wbraTr. l understAnd Ihat th18 ha8 been dcrn In cAder for the stalarnwrtB 10 tYcwk • tn f•lr vlw In 4ccordar9 wilh GOmY Awtad £c4L¥lng l¥aclic• eff•th• for repthlno on cf oft8r 1 Januwy 2015. Sn eoMe¢Ycf wllh my •J•ninJtth, no Otr m8lterexc8pt that rekn•d t• in tre prevlous pwagraph ha8 m8 to my attontlon., la) me raa8onaN8 CaU8e to believe I11 In any molerial resW Ihe rwuirernert$: 111 lo Keep w)urtng rewds In 8CWTdance secuon 44(11 (a) cl 2005 kl RaguSaUon 4 rf the 2LI)8 A¢¢¢uts ReguLatKK 111) t¢ Prere fina$18t81¢M6nts w)ith with a¢>jtiry ¢ompty VA Reglon 8 crflt 2006ACCo Regu0$., hvg not b••n m•t or bl to 4¥hieh in ry oplnlon, &ttthn •hwhJ dn in ord•r t¢ a propbr uTh1¥¥tO7ry of tr eathed. .CCA. aylcAudl Umlted Chartered Certffièd Accwnt•rts 10 Lane MtJttro8e Anws DD108LF
ST MARYS AND ST PEfER'S SCOThISH EPISCOPAL CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 lund# Tot•1 furtd• nd• 2023 fund¥ a123
)24 Incom• from.. Donatk)ns and legacl¢8 Charitabl• ¥th'vitteJ Inveslm•nt• 29,444 12.379 10,588 29,444 12,379 12,507 30,275 4,780 11,024 9,000 400 1,477 39,275 5,160 12,501 1,941 Tol•l In¢om• 52.389 1.941 54.330 48.059 10,877 $6,936 Exp•ndliur¢ t)n: Ral8lng fund8 ChorftA• acllv5tlea 8,870 51,802 8,870 59.080 881 63,4e7 7,478 51.785 11.682 Totsl •xp•ndllur• 60.472 7,478 fj7.950 11,682 84,348 Nel 981nO051) inve8tm•rt• 13 8,210 11.738 1,210 2,058 N•t •xp•ndfture and Mm•nI In furmts (1,873) {11} 1.884) {5.397) <5,3541 Reconclllatlon of fund•: Fund b4lanc¢$ 8t 1 Soptombor 2023 70.e31 242.463 319.084 82,028 242,410 324,438 Fund balin¢M at 31 Augu•t 74,758 242.442 317200 76,631 242.453 319,084 The 8t8tement of finanoal activiliej indLwJe8 al 1n• aTrJ r•cogn*•d in1h y•af. Al IrYa)m• èxpand d•rfve from continuing ac15wtio$.
ST MARYS AND ST PETER'S SCOTTISH EPISCOPAL CHURCH STATEMENT OF FINANCIAL POSITION ASAT3fAUGUST 2024 2024 2023 Flx•d as8rts protY. plant Investments 189.857 140.779 174.472 129.042 Curr•nt •M•ts Tr•d and ¢)th•r receiv&8 C48h£t bk an¢J In hand 310,43S X13,514 17 6.417 4.527 8,931 Current Ilabllltl•• 17,618 (2,0481 18 13,180) N4t curr•nl a•••ts 6,764 1 5.570 Total u••ts l•M curr•nt Il•bllW 317.200 319.084 N•t ••¥•t8 oxcludtsw p•Mlon l•bHIty 317.200 319.084 Thè IndS olthe charlty Re5trthJ irwme furKIs Unrewkle(J fvnd¥ 242.442 74.758 242,463 78.631 317200 319,084 Rector asu
ST MARYS AND ST PETER'S scorrisH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢coyntlnA pollcl•• Charlty Infofmatk) Sl M8r8 8rwJ St P8tsfs Ew8ewi Chw¢h kn an entjty slbJAtsd In scot1. 1.1 Ac¢ountlng convgntlon ThB fiarlar Btatem•it8 h4ve been wepar•J kn axordance vhth the chartys ch¥rtl$ constilull. tho Charrtlès and Trustee Inve8tment (Scolard) Act 2tsJ5. ts Cholitles Iscouand) Regul8Uon8 2006 la8 8m&nd8d) and "Acwjm'ng arbd ReFrfiw by Charits: Slalefflgnt of Retrnended Practie8 wpllcable to tharftÈ$ preparing thelr acontS in rdance V+ith Ihe FinaThil Rèporting Standard appJic8bfe the UK and Rekwbllc of Ir•k7nd IFRS 102). {as amerthd accnINJ p8rkndt commencang from 1 J•nu8ry 2016). Th• charty Is a Publc Eofft Enyty ats deffned ty FRS 102. Th8 ch• h•8 laken advant•Je al I pro%i8loM in I SORP dwlt 8fwng FRS 102 Updats Bulleth 1 not lo propwa • SIRtsmwrt cf Ca8h fln(JaI at•rfth are wyred in steflrva. Is tsJrrwKy of th• ¢h•rfty. Monetary wnount• in thM• fin•naal thtemorrts are ded to Ih8 nearesl L Th Iln8naal St•t•M h•v• b••n w•ped (nder ts hlsknlcat mfyjmed lo Irdude lh• rèv81uatlon ol freehold prowties nd lo indude tsive81menl prwrbM and cottsln flnjndal instrLTherts ai falr ¥ath. The princ4pal aCts'n9 pc4iuos adcpted sel Ixrt bel. 1.2 Prlor p•rfod •ffor Compafatr've ha been •mended for • fv yaar 8Oityiment è8 8taff ts)¥ts have bgen under rewded for the 2023124 of £2,993 and ovw wo¥kl•d in 2022r23 by È1.354. Therefore thè compara¥&¥ have beon a4ust•d ID 8ccixint lor thtsg effw8. la Golng ¢onc•m At tho tim• of 4ppro¥7rKJ Ihe finwKI81 stment8, the IIu51ees have a reasonable ¢xpecl8tiM that tha charty has odoquatg resources lo ccffltinu8 in OFeratlon81 existen for fv for•see4tlg trljluro. Thus tho 1118tee8 ¢onlnue to adopt the gc4ng c1)rM bath ofxCnng In wpthng Ilk flMnci•l •tat•m•rrt•. IA CharfL•bl• fvnd• Unrestrlcted lund$ are rrilatAe use al the dlgtr•1kn 01 true•8 In luthranee of thow ¢lriiabl• Re8lrtct•d funds are 8ubJoct to specfft dorm cr 913 4$ to h(yw they may b• u•od. Tr purpo8e8 and uses of the reatrithd fund8 818 Bet tn ts not88 to tho finaneAal statement$. Endownth fl$ are suWeL to 2peclftc coTrJWon$ ty donorn tlwt the mu8t b• mirrtwned ty thè th8rity. 1.6 In¢¢)m• IrKome is wisgd vthen Ihe charty 08 legally •ntilknl to it after any wknngnce have been mgt. amounts can be measw•d rell8bly. It 1$ ttrwt thll be r•d. Cash donat are rewiwj on TlpL Otror dC¥tIor •r• recrfjnined tr* hgs been nc4 of Ihe thnalkn. unless perfom¥Ke coTrarfas require defenal rf the In&)me tsx reto¥•rable in rela1n to donations receNed urthr GfftNid or deeds of covenart b rwnwd at the16me ofthe dc¥)ètion.
ST MARYS AND ST PETER'S scorrisH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (COPtnNUED> FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng polkl IContlnu•dl Lfjgaci•8 are rncogn18ed on re10 oi otherw1 il iwty ha5 rlfied of an InyndSrwJ dbtrtlxrtlon, Ihe am¢yJnt is knvn. aFvJ recdo Is e>wted. om(Nmt 18 not lnown, th• Iw h treat8d a8 4 contingent a88et. 1A Exp•ndltur• Al expwT0 Is rncJ)gnl8¢d crfKe there18 4 ltyal or con8truth rt41gallon to that e>wndltur•, it18 probal Bettlement h requlred amount C8n be m¢a8w8d rdiably. AJI costs arn ¢al• tts th8 applicable &xpendrtur huthng that aggregate similar costs lo that categjy. IMre costs can1 be diredy 8ttrib¥Jtèd to particular hefjdlnps thty blen alocatsd C 8 b88iJ cOn&t•nt wrth thè uso of res0W$. vAth ntr4 staff iy)Jls albcated on the basi$ of rne spant, and dewe¢lth charges allocat on the porb'on of a41•t'8 u8e. Other 8UPPYt CQ8tg are dlocatad b88e¢l on 8pre8d ol Staff c4sts. ¢h•rttabl• •xp•ndliuM charltsb èxp•nditur8 compfth8 Ihow costs irMld by the Chgrity in the do1•ry of tts acllvfttes ar r¥t•8 for Its belade& It Indudes both costs trAI be alkncated dlr•th lo Jch ac¥5•0 t10 (Xl8ta of •n Inrthf•Ct naluT• to 8upp)rt thom. GoY•rnenc• These indude (he co8t8 attribut80 to Ch8nty'8 ca¥npf1an vAth con8titutK)n?l and alutory r•quIromty, InclLMllng au(Ul, 5tratffjc manAwnrt andTnJAts&'• m08IThJ8 and 0xpen•. 1.7 Prop•tyi pl•nt •nd •qulpm•nt Propety, plant and equlpmant I Inltl81ty m$•d ctsst •Jbl•qu11Y m8•8Wod al colt or lUOn, not of depreelation and any knpainMnl1088e$. OTe¢la1 l• 80 88 Io V&Tile off th• ¢<At cff v•hJkn of aDt•ts thetr rethl lu•S over thoir u8eful IIve8 on foHtrthn9 ba8 Freehcld LwUdlryJ8 PLrynl and eqUit 25% stra¥M Ilne ba Thè odn or kxs •rl•fing ol4Jog81 rrf on 61 l• (knt8Thnlned ¥8 the tkn tekn ts $41• proceedl •rnl the valu• oftr * ¥rvJ ij recognlft•d in the statsmthrt ofllnandal acbMfj•s. 1.8 Non4urr•nt Inv•slm•nts Ft<8d a8eet Inv88tmerrt8 are Inthalty measured at tranga¢knn prke excludlng 1rnn#acu costs, and afe 8ubs8quth m898ured at fair v8lue gt each rewkn'FWJ d8le. Ch9•¥ in fair ¥v8 ar• reGcqnl6ed In not knccmellexpendtLre) for the year. Trane1k)n costs are eXFed A? In•d. 1.1 Imp•lrnwnt of non<ury•nt••••ts At reF£l1ry erKf date. the charfty reNlvs the catyng am¢xwts of its tgngbl8 a880ts lo terni1 whether thw6 18 any INlletion that Irbxe h8ve 8ullered an impairm•nl loss. ff any 6uch Indkatton I3, the recoverabl8 amoLml of thè #SÈ 1$ e8tSmaW in order to determine the extent of the imp8iment h)B8 Ilf any). 1.10 Cash and cajh equlvalents Ca8h and rash equrrfalonts indudo cash in haThJ. deFoJits hekl * cal wlth banks, olh8r ShteM7 liquid Invest vAth origin81 nwluiitiel of 1hro9 month8 orloss, bank oTr9ft8. Bk overthaft¥ are 8hovm wlthtn borrc*lngs In rrent 1kqtileg.
ST MARYS AND ST PETER'S SCOThSH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accoun9 ICOn11nu¢dl 1.11 FSnanclal IMtruffl•n¢• The chartty has elected to appty the pSIC of Sediw 11 'Basi¢ Fin8ndal Instrwnwts. 8ThJ S•thn 12 'ot FInar181 IrAlrumenls188ues' of FRS 102 to 1 of tts finawal n8trumerts. Fln8nry81 in Ihe M•nce wtn pty to th• Flnartial awts and are off8qt. lth nèt rnnts prgs)t•d n the IlnarKA•l 8talthnents, vA)èn theré h 4 l•galty erbforceable right k set off the recesSed amourts aThJ Ihern f8 an Intention to 88tt19 net basts or to roali58 tho 8880t and s&ttle thg liakn.lty s1muttarnouy. B89iG financkgl as5els, indud• tradfr and otlw rthxiv8t488 •y cosh •nd bank bal¥tss. are In6UaMy measured at traM8cllcfj pts InthdY¥a trènsaction costs and tre subg¢quentty ¢onied at 8morti80d I U8lng tha effe inlgre8t m•tsK)d u?08 the anangernert ccmtitut•$ a finandng tranucuon, tho tran83n Is me88ured at the vau8 of the lutwe lpts discsJuntsd at a markèt rgle ol inlor•8L Financlal a88et8 (4888ifi•J a8 recawe Imtrin om yMr ar• rK amortid. 8a81c flnonclal IlablllU•• B88ic finan¢i81 li1110, trado and oth•r pffyable¥ •rKI bank aro Inttlally recognlged at trgnsaclion prk• unless the 4rrangemenl CortilU19s a fithi transactbn, $re the instrumènt Is mea8ur8d at tho pre89nt valuè of tho lu8 paym•nts dI80raId at a marknt rlts of Interest FlnarKI IwtNtles da8fi as pay•tlg on• ygar not amorti. Debt hslruments are subsequarty ¢•rrlJ at amortw co•t. th• •T•clibY Inloro8t rgts mthod. Trnde p8yYble¥ ot1•11¢ to pty goDdB or w¥ic•8 that been gwulr•d In OTlnary of owraticfi8 from supplNryr6. Amunt6 pay•ble are dag$M8d a6 cuffenl Ilabililie¥ N paym•rt 1$ due wrthin ono year or k89. M not, Ihey 8r• kYég•nll 88 rnMjrrent Iiab411. Trade payJbb$ are ra¢ognls8d Inll*lty at Iransacth)n y1ce and wbsequtntty mea8LTrJ at amortt6ed cx)st effeeth Int•r•8t m•thod. D•rncognldon ollln•nehllkbllltt•• Financial lbi1.e8 arè derecc4nlsèd tha obl19&b'rn axth or ar• dl8thBrged or celled. 1.12 Employ•• b•n•ltt• The cost of any unused hollday ertWèmant In th• wi1 in whth I1 emr4oy•e'8 8er¥te8 ar• recdved. to twmIne •nployment ofan BM9y8e cy lo provide twmirntsc bw)&fi18. 1.13 ltsllr•m•nt b•n•llts
ST MARY'S AND ST PETER'S ScOlSH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Crlllcal •¢Gounllng e•llmal•• and Judg•wnl• In Ihe applicalian ofthB cw¢tys acc4)unth¥ tnwtaas ar¢ rred to make ludg&nents. estlmates assumptlorts aboth Ihe ctyng Ount of assets and 11alIbe$ that are not rearfity apparonl fron other rc88. Thè estimates assocaated a8BUmW'o are based cn hi8torical experience and ¢Xh•r factors that are eomidtted to be reknvant. Athl rowhs may diff•r frcth ostiM8$. Th8 88timal8s Umy1rj 88BumptbrylS are retsiewed on an ongory ba8. Revision8 to 8ccounting e$timates are reo)9nised in Ihe pwknd in thith the e¥timal8 15 rSed t•&h8r8 thg rev1On affects thal . or in the peri¢MI of the rn¥iJlon 8rKI futtK8 p8riods v•re tho rnbryBK>n affo¢t8 bclh currwrt frJbJro IrK¢m• from don•tloM •nd1•g•cI Total UhMNtrlct•d RMtrlct•d nd fvnd• 2023 2023 Total fund• 2024 fund• 20 2023 •rKI g 29,444 20.444 30.275 39,275 tkn•tlon• •nd g1ft• rNb8tkn$ frcffi Sndivkdu¥18 Gift aid feclaim Grants rKelved 24,222 4.896 24,222 24,909 5,0 270 24.909 5.098 9.270 328 29.444 30.275 39,275 Income from charftabl• *¢tMII•# Unr•ffjtrl¢t•d R••trlct•d fund• funds 2024 T¢Xal UnrnNtrfct•d R•8tr1Gt•d luttd• fufftd# 2023 2023 Totsl 2024 2023 Charlt•ble actlvltl Sal88 and fe Fundrglskng events 259 12,120 259 12.120 2.695 2,065 2.895 2,485 12.379 12.379 4,760 400 5.180 -10-
ST MARYS AND ST PETER'S scorrisH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEIAENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 In¢om• from Iffiv••tm•nts Totsl fund• 2024 fund 2024 funds 2023 nd• 2023 2023 Rental incomo Inne from InVern•nts 8,810 B.810 2.181 1,941 4.122 2,414 1.4T7 3.891 10.5e8 12.507 11.024 1,4n 12.501 Exp•ndlthr• on rnl#lng fund• Uny••trkt•d Uftr•rtrlct•d fund¥ fund• 2023 Fundrnl8lng and publklty Other fundraiwng co8ts 8,870 881 11
ST MARYS AND ST PETER'S scorrisH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Exp•ndlurn on charllablg •cll¥lU• F•Xh and Con¥nunlty worshlp •ctlvftl•J 2024 2024 Tol•l Falth and Communlty Y>r8hlp •ctlwftl6s 202$ 2023 Total Dlrect cmts 25.595 25.595 24.282 24.282 DeprecFstion and knpalnnent DlocMan Quota Imurance Heal and l&ht R•paS18 and mahknanc• Amar expon Oonjts'ons Sundry •xpwM Property Gosts Olhor Gharilablo expendhure 4.815 5,297 4.815 5297 e.228 7.167 6.041 431 324 448 1214 4.815 8,144 4.815 8,144 5.773 7,378 8,343 795 520 89 2,858 6,228 7,167 5,773 7,378 3.682 795 3.978 2,861 431 $20 18 71 2,858 1214 3,472 3,472 43.746 14.414 68.180 44,837 17,630 82.467 8h•rn of #upport and gov•rn•nG• ¢o•ts (• not• 81 GovèrnarK• 1.000 14.414 69,080 45,837 17,830 83,467 Analy¥l$ by fund Unr8*riclwJ f4n Reslrf¢aed fund8 42.fKJ3 9.59 4.81S 51.e02 7.478 42,158 3,682 9,830 51,785 11,8B2 14.414 45,837 17,830 83,467 8upportco•l• 2023 lThJopwh#ent exAmknollon ch8r[tab activ 920 12.
ST MARYS AND ST PETER'S SCOThISH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 N•t mov•m•nl In funds 2024 2023 Th8 net movomart m fiThbJs18 stated after dwWW(rye¢lll0). 4.815 4,815 10 Trwt•e8 Norvj of thè InMtee8 lor ary clneCted thn) rttelved ary renyjnerallcffl or neI& from the chartty dun9 the yèar. 11 Erykny••• The average MthlY nunèr of empbyeej dLwing y*r w•& 2024 Numb•r 2023 Numb•r 2023
nd 19
20.412 5.183 19,188 20.595 24,282 There no empbS who lamed in exc• of£60.000. 12 P•n•lon co•1• Pe50n e<JthbuilcfA wèr• (J• to thè S¢ottlsh EF48ts CPwJrch F•ndon •thwne ai a rato of 322% of m8mborn' 8thrf88. Th8 ponsth c08t8 ¢Jwged In Il s¥)ar lItt•d to £S,18312023: £5.098). 13 Galn8 •nd10•8•• on Snv•8thnts T¢)IAI Unr•¥trktod R•Jtsl¢t•d funds fvnd$ 2023 2023 Tolal fvnd$ 2024 fund 2024 2024 2023 <Jalnsllk68esl arWng M.. Revdualn of 6210 11,736 1,210 848 2,058 13-
ST MARY'S AND ST PEfER'S SCOTllsH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 14 Tamtlon The charty18 oxempt from trx8Tr on ts •thlt8 beou all Is aFvlkd for CharmAb pu 16 Propwtyp plant and •qulpm•rt Frn•hold Iwlldlr•41 Pl•rtt4nd •qulpm•nt T(•l Co•t At 1 Septttrnr 2023 240,748 8.480 247,228 At 31 Augu 2024 240,748 6,480 247.228 Deprnclatlon •nd Snylrm•rt Al 1 Sept8mbor 2023 DeatIOn tharged In tho e8,276 4.815 6.480 72,756 4,815 At 31 2024 71.091 8,480 ., . Tl,571 CrrylnB •mourt At 31 Augu 2024 189.857 169,867 Al 31 Augwt 2023 174,472 174A72 18 Flx•d ••8•t In¥•#lm•Thts Ll•t•d Inv•stm•nl• cts or v•lu4tbn Al 1 September 2023 Valulon chang&8 129,042 11.737 AI 31 Awu6t 2024 140.779 C•rrylng amount Al 31 Augu& 2024 140,779 Al 31 Aupurt 2023 129,042 17 Trade and oth•r r•c•lvabl•• 2024 2023 AnJ>unts fallkng du• vAthln OA• y••r". Other reciv*lo8 5.417 8.687 -14-
ST MARYS AND ST PETER'S ScOlSH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (COPrnNUED) FOR THE YEAR ENDED 31 AUGUST 2024 18 crr•t Ihbllnl 2023 Accruals and defefred IrKom• 3,180 19 R•tlr•n]•nt b•n•fit•cli•m D•fin•d conlrfbutlofi schom•8 Cwe to profft or k4s kn r•spe( ofd•finwJ COrrtrfbuti 8¢w$ 5,183 Thg chartty operal¢s o defined contrfbubcfi pern'm •th•rr• fix all qL4lrfying Th• th achemè are held sep8rately from th050 of In an Irthp•TrJm •dmlra8ler•J fu1. Tho retheaed fvrKl$ of the churty conFxlse th• Wdod L•r1 ol dcKWiC1 WKI grnrrt8 W on tru8t
ubieci lo rnndllh)n8 by donor8 • to lThf It*rf be used.
At1 InGomlno Rtsou S•pt•n4)•r •xp•nd•d 2023 Oaln• WKI AI 31 Augujt 2024 Fabrk furKI Benevol•nt lurKI Roof fund Heritabl• w¢p•ty fund Offi¢er fund Renewd fund Net zaro fund 63.820 1,018 (7711 5.274 80,175 1,018 174.474 3,204 4,923 4,982 14,81SI 189.659 3.545 252 {1,8V2) 242.403 1.941 17.478) 5,628 242,H2 Prnvl¢)u• y•ar: Incomlng Rmour 8•pt•mb•r •xp•nd•d 2022 G•ln• and At 31 August 2023 F*Al¢ fund Benevot•nt fund Roof fiJrKI Heritablo propwty fij1 53,235 1.729 (1,9511 (1201 (1,3081 (4,8151 53.820 1,018 179289 174,474 3,204 4.923 4,982 41 Renw•d fund Nat zero fund (3,4721 1181 242.410 10.877 (11,882) 242.453 -1s-
ST MARYS AND ST PETER'S SCOThSH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 RMtrlct•d fun (Condnued) The sPe purposes fof whth the ftmds •re to to be awied are 88 foll F8brk fund.. G•n8ral repairs aThl maintenance rwe558ry at the chwth. 8enevd¢nt fund.. G6nefo1 char[tae purFo8e8. 81 the di5Cfet)n Of1 rlOr. Roof fund". Major repar wck to tho rr¥)l of tha churth. HeritoNe propBty fvnd.. Thg raetory and its deprn(aabM. new81 fuTrJ.' For m(>Jem medl8 tethmkngy in wor8hi). Net Zero Fund.. To inits"ats"ves urKler the SEC 2030 rf zwo ttfflltrn•nL 21 Unrn•trlGt•d fvnd• The Lnre16d ILmds ollhe th4rity comwkne thè urxpwvJed bd•rbW of nakn& gr %thiGh are not 8ubS8¢t lo Specffic ewdition8 ty (kr$ and grnrtor8 88 lo hthv th may bè wd. These Include dgnated lunds whlch h• boen 1 a8ld• out of unre8tr1(Aed funts by the tN8tee5 foi Specific FdXPOSa8. Incoffllng Ruou•S 8•pt•mb•r rnsourc•s •xpondod 2Q23 Galns and At 31 Augu•t 2024 (3gMr•l fiJnd• 78,831 180,472) 8,210 74,758 PrnvI0 year: Atl Incomlng ROUr¢•$ Bept•mb•r rn•ourcM •xp•ndad 2022 Gllns and At31 Augu•t 2023 Ggngral lund8 82,028 48.059 {62,e86) 1,210 76,631 22 Analyo1• of Mt •M•ts b•tw••n fvnd• Totsl fvftds 2024 fund• 2024 2024 At 31 Augu•l 2024: ProFaty. plant and eqprnent Investmènt8 Curr)1880Ot&lISwIItbo¥) 169.657 8e.289 6,496 189,657 140.779 6,784 74,490 74.768 242,442 317.200 16-
ST MARY8 AND ST PETER'S SCOThISH EPISCOPAL CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 22 An115 01 n•t aA8•t# bo1&Th funds (C¢)nt1Tru1 fund• 2023 fvnd• 2023 2023 At 31 August 2023: Pryty. ffi ar¥J Investments Cwront aE8elW)tie8) 174,472 67,981 174,472 129,042 15,570 81,061 15.670 7e,631 242,453 318.084 R•latsd party tr•nMctlon• no d18ckn8•bl• rnlatsd pty tranG¢th durhw ts year12023. NJn•>. 17-