## **CHRIST CHURCH EPISCOPAL CHURCH**
# **RECEIPTS AND PAYMENTS ACCOUNT**
**FOR THE YEAR ENDED 31 AUGUST 2024**
**Scottish Charity Reference - SC010918**
**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Bankers**
HBOS King Street Castle Douglas
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Report of the Vestry Year Ended 31 August 2024**
The members of the vestry present their annual report together with the financial statements for the year ended 31 August 2024.
## **The Life of Christ Church**
Christ Church, Dalbeattie is a member of the Scottish Episcopal Church, and its Vestry members are Trustees of it, under charity law. The governance of the charge is set out in its Constitution.
The principal activities of the Church are the communication of the Gospel of Christ to its membership and the wider community where appropriate, as well as retaining a wider international perspective.
The Vestry depends on contributions from its members, both human and material. Such activities support worship and maintenance, along with pastoral and social activities of the Church.
Following a long period of illness, the in October 2024.
has retired as our Rector
The Vestry and congregation look forward to strengthening and developing ecumenical relationships with other churches in the area, while continuing to strengthen and develop the spiritual life of the congregation and its involvement in worship and outreach.
## **Statement of Risk**
The Vestry keeps under review the major risks to which the Church is exposed and has established procedures to mitigate any risks identified.
## **Volunteers**
The Vestry is grateful for the time freely given by a large number of volunteers, without whom many of the activities would be unable to operate. No amounts have been included within these accounts for volunteers time.
## **Appointment of Vestry Members**
Vestry members are elected or appointed by Annual General Meeting established by constitution and under Canon Law of the Scottish Episcopal Church. There is no formal induction programme but ongoing guidance is given to ensure that Vestry members are familiar with the Church's values, aims and responsibilities as the designated trustees of a charity
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Financial Review**
A deficit of expenditure over income of £2,298 has been made during this financial year, compared to a deficit of £15,137 last year. The value of the Church’s investments in the Scottish Episcopal Church’s Unit Trust Pool increased during the year by £8,833 (2023:£1,519), giving an overall increase in the Church’s available funds to a total of £112,377 (2023:£105,842).
During the year the Church Hall has been redecorated at a total cost of £6,730. This expenditure was made possible by generous donations from members of the congregation.
The cost of utilities (gas and electricity) in the year was £5,187 (2023: £6,717). A new utilities contract was entered into during the year which has substantially reduced the monthly bills.
Following the financial year end, a retirement settlement agreement has been reached with the outgoing Rector. The amount of this settlement that has been paid by Christ Church in October 2024 is £10,000.
## **Reserves**
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, the Church would be able to maintain its current level of activities for a reasonable period until replacement funding is obtained.
## **Statement of the Vestry Member's Responsibilities**
The members of the Vestry must prepare financial statements which give sufficient detail to enable an appreciation of the transactions of the Church during the financial year. The members of the Vestry are responsible for keeping proper accounting records which, on request, must reflect the current financial position of the Church at that time. This must be done to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the Church and must take reasonable steps for the prevention and/or detection of fraud and other irregularities.
On behalf of the Vestry
Trustee
14/01/2025
Date: ...........................
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Independent Examiner’s Report**
## **To The Trustees of Christ Church Episcopal Church For The Year Ended 31 August 2024**
I report on the financial statements of the charity for the year ended 31 August 2024 which are set out on pages 5 to 10.
## **Respective responsibilities of Trustees and Examiner**
The Church'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 2006 Regulations"). The Church's Trustees 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 I do not express an audit opinion on the view.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:-
1. which gives me reasonable cause to believe that, in any material respect, the requirement
- 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 Accounts Regulation have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Bell Ogilvy Chartered Accountants 36 King Street Castle Douglas DG7 1AF**
14/01/2025
Date ..............................
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Receipts and Payments Account for the Year ended 31 August 2024**
|**Note**
**Receipts**
Congregational & Voluntary Donations
2
Legacies
3
Receipts From Fundraising Activities
4
Receipts from Investments other
5
Rent from Land & Buildings
Grant Received
6
Sundry Income
7
Proceeds from Sale of Fixed Assets
Proceeds from Sale of Investments
**TOTAL RECEIPTS**
**Payments**
Payments relating to Charitable Activities
8
Grants and Donations relating directly
to Charitable Activities
9
Governance costs
Purchase of Fixed Assets
Purchase of Investments
**TOTAL PAYMENTS**
**Surplus/ (Deficit) For The Year**|**Unrestricted**
**Endowment**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
19,768
-
19,768
-
-
-
90
-
90
2,754
348
3,102
8,400
-
8,400
-
-
-
-
-
-
-
-
-
-
-
-
**31,012**
**348**
**31,360**
33,625
-
33,625
33
-
33
-
-
-
-
-
-
-
-
-
**33,658**
**-**
**33,658**
**(2,646)**
**348**
**(2,298)**|**2023**
**£**
10,014
5,000
316
2,871
4,295
-
284
-
-|
|---|---|---|
|||**22,780**|
|||37,884
33
-
-
-|
|||**37,917**|
||||
|||**(15,137)**|
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Statement of Balances as at 31 August 2024**
|**Note**|**Unrestricted**|**Endowment**|**Total**||
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**2023**|
||**£**|**£**|**£**|**£**|
|**Cash at Bank & In Hand (including Deposit Account)**|||||
|Balance at beginning of year|7,399|1,321|8,720|23,857|
|Surplus/(Deficit) for the year|(2,646)|348|(2,298)|(15,137)|
|Transfers between funds|-|-|-|-|
|**Balance at end of year**|**4,753**|**1,669**|**6,422**|**8,720**|
|**Investments**|||||
|Market Value at beginning of year|86,228|10,894|97,122|95,603|
|Additions at cost|-|-|-|-|
|Disposals|-|-|-|-|
|Unrealised Gain in year|7,842|991|8,833|1,519|
|**Market value at end of year**|**94,070**|**11,885**|**105,955**|**97,122**|
|**Fund Balances (Cash & Investments)**|||||
|At the beginning of year|93,627|12,215|105,842|119,460|
|Cash Surplus/(Deficit) for year|(2,646)|348|(2,298)|(15,137)|
|Movement in Investments|7,842|991|8,833|1,519|
|Transfers|-|-|-|-|
|**At the end of year**|**98,823**|**13,554**|**112,377**|**105,842**|
14/01/2025
Approved by the Vestry on ............................................ and signed on their behalf
Treasurer
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Notes to the Accounts for the Year Ended 31 August 2024**
## **1 Accounting Policies**
## **Basis of Preparation**
The accounts have been prepared on a receipts and payments basis. They consist of a summary of monies received and paid via the bank and in cash by the church during the financial year, along with a statement of balances. No adjustments have been made for any income due but not received, nor for any expenses incurred but not yet paid at the year end. Except for investments, fixed assets are not capitalised.
## **Funds**
The unrestricted general fund is to support the work of the church. At present there are no restricted funds. Income from the endowment fund can only be spent on the Rector's stipend.
## **Church Buildings**
The church,hall and rectory are not shown in the statement of balances. The Vestry believes that it is not possible to place a market value on them. The valuation of the buildings for insurance purposes is £1.9m.
## **Special Collections**
During the year, the church made a special collection for a local charity. These funds were banked and the total collected paid over to the respective charity. Because the church was simply collecting the money on behalf of individual donors and forwarding it to the nominated charity, the income and expenditure is not included in these accounts as part of the income and expenditure of the church. Further details are given in note 9.
## **2 Congregational & Voluntary Giving**
|Unrestricted donations
Recorded Giving
Open Plate|**2024**
**2023**
**£**
**£**
17,502
8,063
2,266
1,951|
|---|---|
||**19,768**
**10,014**|
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
**Notes to the Accounts for the Year Ended 31 August 2024**
## **3 Legacies**
|**2024**||**2023**|
|---|---|---|
|**£**||**£**|
||**-**|**5,000**|
## **4 Receipts from Fundraising Activities**
|Unrestricted Receipts
Sunday coffee|**2024**
**2023**
**£**
**£**
90
316|
|---|---|
||**90**
**316**|
## **5 Receipts from Investments other than land and buildings**
|Unrestricted Investment Income
Dividends
Endowment Investment Income
Morris Endowment|**2024**
**2023**
**£**
**£**
2,754
2,549|
|---|---|
||**2,754**
**2,549**|
||348
322|
||**348**
**322**|
## **6.Sundry Income**
|**6.Sundry Income**||
|---|---|
|Scottish Episcopal Yearly Church
Remission|**2024**
**2023**
**£**
**£**
-
284|
||**-**
**284**|
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Notes to the Accounts for the Year Ended 31 August 2024**
## **7. Payments relating to charitable activities**
|**Unrestricted payments**
**Expenses relating to the Maintenance of Ministry**
Contribution to Rectors Employment costs
Rector's expenses
Deputising fees
Quota
**Total Maintenance of Ministry expenses**
**Property Expenses**
CHURCH
Utilities
Insurance
General Repairs
Cleaner
RECTORY
General Repairs
CHURCH HALL
General Repairs
**Total Property Expenses**
**Costs of Worship**
Altar Supplies
CCLI and Zoom Licence
**Total Costs of Worship**
**Costs of Administration**
Legal & Professional
Bank charges
Office & Stationery
**Total Costs of Administration**
**TOTAL PAYMENTS RELATING TO CHARITABLE ACTIVITIES**|**2024**
**2023**
**£**
**£**
11,000
10,500
50
96
248
146
2,274
2,689|
|---|---|
||**13,572**
**13,431**|
||5,187
6,717
3,427
3,385
1,217
9,275
780
812|
||**10,611**
**20,189**|
||1,209
2,942|
||**1,209**
**2,942**|
||6,730
94|
||**6,730**
**94**|
|||
||**18,550**
**23,225**|
||27
26
-
180|
||**27**
**206**|
||1,488
970
(12)
52
-|
||**1,476**
**1,022**|
|||
||**33,625**
**37,884**|
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**CHRIST CHURCH SCOTTISH EPISCOPAL CHURCH SC010918**
## **Notes to the Accounts for the Year Ended 31 August 2024**
## **8 Grants and Donations relating to Charitable Activities**
|**g to Charitable Activities**||
|---|---|
|Royal British Legion|**2024**
**2023**
**£**
**£**
33
33|
||**33**
**33**|
## **9 Special Collections**
During the year the church undertook the following special collections. These are noted for information purposes only
|purposes only||
|---|---|
|Kirkcudbright Food Bank
UNHCR|**2024**
**2023**
**£**
**£**
156
123
-
70|
||**156**
**193**|
## **10 Remuneration and expenses paid to trustees**
No remuneration or expenses were paid to Vestry members during the year The Rector receives a stipend and pension contribution paid by St Ninians Castle Douglas. He also receives expenses as detailed in Note 7.
10