HOLY TRINITY CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
WEI accountancy
Chartered Certified Accountants
HOLY TRINITY CHURCH
- LEGAL AND ADMINISTRATIVE INFORMATION a
Charity number (Scotland) $C013980
Principal address The Vestry c/o The Rectory 8 Gordon Street Elgin IV30 1JQ
Independent examiner
aor Will Accountancy 6 Duffus Lane Hamilton Gardens Elgin IV30 SPD
HOLY TRINITY CHURCH
CONTENTS
| i rt |
i rt |
|---|---|
| Page | |
| Trustees’ report | 1-2 |
| Independent examiner's report | 3 |
| Statement offinancial activities | 4 |
| Balance sheet | 5 |
| Notestothefinancialstatements | 6-13 |
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HOLY TRINITY CHURCH
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
The trustees present their annual report and financial statements for the year ended 30 June 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019).
Objectives and activities
The overriding objective is for the Church to provide a safe and accessible environment for the use of the building for Christian worship and activities. The majority of the activities undertaken with the Church are by volunteers with only the Rector receiving a stipend, and the Organists and Cleaner receiving a salary. The halls are used by a wide range of groups and clubs, including activities for the older generation, youth groups, exercise and dance classes and the Mother's Union.
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Achievements and performance
The Vestry determined to proceed with some major improvements during 2024/25 based on the positive funding in the churches. The roof repairs on the main roof were completed as a cost of £10,113 less donations and grants of £7,894. This completes the last quinquennial work. Pew cushions were made of a much more comfortable size at a cost of £5,778. The two old boilers were replaced with a modern gas boiler at a cost of £26,263. These expenses are included in church and worship costs of £50,385 and explain the current year's deficit.
The main hall remains unchanged. The Vestry consider that apart from the main hall most of the expected improvements are now up to date. However initial meetings have taken place with the Diocesan Net Zero Carbon representative to commence a programme and plan for the churches to eventually be carbon neutral. This will take some years.
The Vestry remain heartened by the support of both congregations at Elgin and Lossiemouth.
Financial review
The total income for the year was £112,406 (2024 - £115,709) and the main sources of funding were donations, fundraising activities and dividends. The expenditure amounted to £142,082 (2024 - £102,127) resulting in a deficit for the year of £27,287 (2024 surplus of £29,594) after taking into account the net gain from investments of £2,389 (2024 - £16,012).
At 30 June 2025 the charity has total reserves of £161,417 (2024 - £188,704). The unrestricted funds amount to £159,375 (2024 - £182,922) and the restricted funds amount to £2,042 (2024 - £5,782).
Reserves policy
The policy of the charity is to retain unrestricted funds at a sufficient level to cover at least three months expenditure. At current levels of expenditure this would be approximately £25,000. This level of reserves has been maintained throughout the reporting period.
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HOLY TRINITY CHURCH
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Structure, governance and management
The charity was established by a charitable trust deed on 16 August 1917. The charity is an unincorporated association charity registered in Scotland with the Office of the Scottish Charity Regulator (Charity number $C013980).
The present Constitution of the Church dates from June 1998 and is available for inspection if required.
The church is managed by a Vestry. Those who served during the year are noted below. The Vestry members serve a term of three years. Two Vestry persons retire from the Vestry at the Annual General Meeting according to time served, and two new members are elected. Trustees are appointed in accordance with the Code of Cannon and the Digest of the Resolutions of the Scottish Episcopal Church. All funds are managed and controlled by the Vestry. The members have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks. The trust e s who served} the| and tothedateof ofthefinancial statementswere The trustees are responsible for the maintenance and integrity of the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees’ report was approved by the Board of Trustees
Os
HOLY TRINITY CHURCH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOLY TRINITY CHURCH
| report to the trustees on my examination of the financial statements of Holy Trinity Church (the charity) for the year ended 30 June 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
| report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. | understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. 2 _ the financial statements do not accord with those records; or 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
for
Will Accountancy
6 Duffus Lane
Hamilton Gardens
Elgin IV30 5PD
3 October 2025
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HOLY TRINITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |||
| Notes | £ | £ | £ | £ | £ | £ | ||
| Income and endowments | from: | |||||||
| Donationsand legacies | 2 | 101,694 | 4,154 | 105,848 | 107,111 | 3,740 | 110,851 | |
| Other trading activities | 3 | 2,652 | - | 2,652 | 1,578 | . | 1,578 | |
| Investments | 4 | 3,664 | - | 3,664 | 3,170 | . | 3,170 | |
| Other income | 5 | 242 | - | 242 | 110 | - | 110 | |
| Total income | 108,252 | 4,154 | 112,406 | 111,969 | 3,740 | 115,709 | ||
| Expenditure on: | ||||||||
| Raising funds | 6 | 285 | . | 285 | 225 | - | 225 | |
| Charitable activities | 7 | 133,903 | 7,894 | 141,797 | 101,902 | : | 101,902 | |
| Total expenditure | 134,188 | 7,894 | 142,082 | 102,127 | - | 102,127 | ||
| Net gains/(losses) on | ||||||||
| investments | 10 | 2,389 | - | 2,389 | 16,012 | - | 16,012 | |
| Net income/(expenditure) | and | |||||||
| movement infunds | (23,547) | (3,740) | (27,287) | 25,854 | 3,740 | 29,594 | ||
| Reconciliation offunds: | ||||||||
| Fund balances at 1 July2024 | 2024 | 182,922 | 5,782 | 188,704 | 157,068 | 2,042 | 159,110 | |
| Fund balances at 30 June | ||||||||
| 2025 | 159,375 | 2,042 | 161,417 | 182,922 | 5,782 | 188,704 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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HOLY TRINITY CHURCH
BALANCE SHEET
AS AT 30 JUNE 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investments | 12 | 143,239 | 157,966 | ||
| Current assets | |||||
| Debtors | 13 | 2,410 | 6,517 | ||
| Cash at bankand in hand | 17,917 | 26,820 | |||
| 20,327 | 33,337 | ||||
| Creditors: amounts falling due within | 14 | ||||
| oneyear | (2,149) | (2,599) | |||
| Net currentassets | 18,178 | 30,738 | |||
| Total assets less current liabilities | 161,417 | 188,704 | |||
| The funds ofthe charity | |||||
| Restricted income funds | 15 | 2,042 | 5,782 | ||
| Unrestricted funds | 16 | 159,375 | 182,922 | ||
| 161,417 | 188,704 |
The financial statements were approved by the trust€€s ON.......... cece
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HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
- 1 Accounting policies
Charity information
Holy Trinity Church is a charity registered in Scotland with the Office of the Scottish Charity Regulator, the registered office is The Rectory, 8 Gordon Street, Elgin, |1V30 1JQ.
1.1 Basis of preparation
The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019).
The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.
The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3. Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. If parts of the unrestricted funds are earmarked at the discretion of the Vestry for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose and does not legally restrict the trustees’ discretion to apply the fund.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
- 1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. All costs have been directly attributed to one of the functional categories of expenditure in the Statement of Financial Activities.
Holy Trinity Church includes two church buildings, St Margaret's Church in Lossiemouth and Holy Trinity Church, Elgin. Neither church is included in fixed assets as the buildings are very difficult to value. The open market value would be far below the cost of rebuilding. St Margaret's Church, Lossiemouth is insured for the cost of rebuilding £1.09M and Holy Trinity Church, Elgin £2.26M.
- 1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equivalents
Cash and cash equivalents are basic financial financial assets and include deposits held at call with banks.
1.8 Financial instruments
- The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including other creditors are recognised at transaction price.
1.9 Employee benefits
- The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
2 Income from donations and legacies
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 101,694 4,154 105,848 107,111 3,740 110,851
----- End of picture text -----
Par a
HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Ci
3 Income from other trading activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fundraising events | 2,652 | 1,578 | |
| 4 | Incomefrominvestments |
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Income | from | listed | investments | 3,664 | 3,170 |
| 5 | Other income | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Other income | 242 | 110 | |
| 6 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Otherfundraisingcosts | 285 | 225 |
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HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
7 Expenditure on charitable activities
.
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Direct costs | ||
| Staffcosts | 49,694 | 49,159 |
| Rectory costs | 6,398 | 6,543 |
| Administration | 5,479 | 4,674 |
| Professional fees | 1,421 | 1,660 |
| Church and worship costs | 50,385 | 11,497 |
| Provincial quota | 14,163 | 13,086 |
| Donations | - | 400 |
| Gas and electric | 11,014 | 11,992 |
| Cleaning materials | 129 | 128 |
| Accountancy | 1,800 | 1,619 |
| General expenses | 1,314 | 1,144 |
| 141,797 | 101,902 | |
| Analysis by fund | ||
| Unrestricted funds - general | 133,903 | 101,902 |
| Restricted funds | 7,894 | - |
| 141,797 | 101,902 |
Accountancy fees include £1,800 (2024 - £1,619) paid to the independent examiner in respect of the independent examination.
Support costs have not been separately identified as the trustees consider there is only one charitable activity.
8 Trustees
Other than Revd. Tembu Rongong, none of the other trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The cost to the Church of employing Revd. Tembu Rongong was £37,265 (2024 £34,926) during the year.
9 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Full time | 1 | 1 |
| Part time | 2 | 2 |
| Total | 3 | 3 |
Gis
HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
9 Employees
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Employees|(Continued)|
|Employment costs|2025|2024|
|£|£|
|Wages|and|salaries|49,694|49,159|
----- End of picture text -----
Wages and salaries
There were no employees whose annual remuneration was more than £60,000.
10 Gains and losses on investments
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|Gains/(losses)|arising|on:|£|£|
|Revaluation|of|investments|2,562|15,327|
|Sale|of investments|(173)|685|
|2,389|16,012|
----- End of picture text -----
11. Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Fixed asset investments
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----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Listed|
|investments|
|£|
|Cost|or|valuation|
|At|1|July|2024|157,966|
|Additions|16,001|
|Valuation|changes|2,389|
|Disposals|(33,117)|
|At|30|June|2025|143,239|
|Carrying|amount|
|At|30|June|2025|143,239|
|At|30|June|2024|157,966|
|2025|2024|
|Investments|at|fair|value|comprise:|£|£|
|Equity|instruments|measured|at|fair value|143,239|157,966|
----- End of picture text -----
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HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
.
| 13 | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Otherdebtors | 340 | 4,477 | |
| Prepayments and accrued income | 2,070 | 2,040 | |
| 2,410 | 6,517 | ||
| 14 | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accrualsanddeferredincome | 2,149 | 2,599 |
15 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 July 2024 | Incoming | Resources | At30June | |
|---|---|---|---|---|
| resources | expended | 2025 | ||
| £ | £ | £ | £ | |
| St Margaret's ChurchWindows | 2,042 | - | - | 2,042 |
| HolyTrinity RoofRepairFund | 3,740 | 4,154 | (7,894) | - |
| 5,782 | 4,154 | (7,894) | 2,042 | |
| Previous year: | At 1 July 2023 | Incoming | Resources | At30 June |
| resources | expended | 2024 | ||
| £ | £ | £ | £ | |
| St Margaret's Church Windows | 2,042 | - | - | 2,042 |
| HolyTrinity RoofRepair Fund | - | 3,740 | - | 3,740 |
| 2,042 | 3,740 | - | 5,782 |
St Margaret's Church Windows Fund is monies to be used towards improving St Margaret's Church windows.
The Holy Trinity Roof Repair Fund is monies to cover the cost of major work to the Holy Trinity Church roof.
“44.5
HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 eee
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 July 2024 | Incoming | Resources | Gains and | At30June | |
|---|---|---|---|---|---|
| resources | expended | losses | 2025 | ||
| £ | £ | £ | £ | £ | |
| Prayerbooks | 150 | - | - | - | 150 |
| General funds | 182,772 | 108,252 | (134,188) | 2,389 | 159,225 |
| 182,922 | 108,252 | (134,188) | 2,389 | 159,375 | |
| Previous year: | At 1 July 2023 | Incoming | Resources | Gainsand | At30June |
| resources | expended | losses | 2024 | ||
| £ | £ | £ | £ | £ | |
| Prayerbooks | 150 | - | - | - | 150 |
| General funds | 156,918 | 111,969 | (102,127) | 16,012 | 182,772 |
| 157,068 | 111,969 | (102,127) | 16,012 | 182,922 |
Prayer group funds is monies set aside for the prayer group to buy new books as required.
17 Analysis of net assets between funds
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | ||
| 2025 | 2025 | 2025 | |
| £ | £ | £ | |
| At 30 June 2025: | |||
| Investments Current assets/(liabilities) |
143,239 16,136 |
- 2,042 |
143,239 18,178 |
| 159,375 | 2,042 | 161,417 | |
| Unrestricted | Restricted | Total | |
| funds | funds | ||
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| At 30 June 2024: | |||
| Investments Current assets/(liabilities) |
157,966 24,956 |
- 5,782 |
157,966 30,738 |
| 182,922 | 5,782 | 188,704 |
Sanne
<42%
HOLY TRINITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
18 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
19 Parent charity
The parent charity is the General Synod of the Scottish Episcopal Church and is registered in Scotland with the Office of the Scottish Charity Regulator (SC015962). The activities of the parent is that of making grants, donations and gifts to individuals and organisations, offering pensions and loans to individuals as well as carrying out activities and services itself.
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