St. Marfs Episcopal Church. Aberdeen
Scottish Charity No: SC014062
Annual Report and Financial Statements
for the year ended 30 September 2025

St. Marfs Episcopal Church
Annual Report and Flnancial Statements
for the year ended 30 September 2025
Contents
Page
Referen￿ and Administrative Information
Trustees, Report
Independent Examinerfs Report
Statement of Financlal Artivities
Balan￿ Sheet
Notes to the Accounts
9-12

St. Marfs Episcopal Church
Reference and Administrative Inforn￿tiOn
Princlpal PAldress
St Marfs Episcopal Church
Carden Place
Aberdeen ABIO IUN
Scottlsh Charlty Number
SC014062
Charlty Trustees
Members of the Vesty:
Post vacant
John Cooke
David Rose
lain Stewart
Rector
Rectorfs Warden
SecreLIry
People's Warden and Altemate Lav
Representative
Treasurer
Lay ReP￿sentative
Lydia Ross
Nicola Mills
Ordinary members:
Erikka Askeland
Allison Brown
Julia House
Athol Jermieson
Louisa Donaldson
{from 17.03.25)
(from 02.02.25)
{from 02.02.25)
(to 02.02.25)
Bankers
Vlrgin Money
l Queen's Cross
Aberdeen
AB15 4XU
Independent Examiner
Sam Walker
38 Castle street
Aberdeen
ABII 5YU

St. Marfs Episcopal Church
Annual Report of the Members of the Vestry
The vestry is pleased to present the annual accounts for St Marrfs Episcopal Church for the year ended 30
September 2025.
Actlvitles, Achievements and Future Plan5
St. Maryls maintains and utilises for Its rellglous ServI￿S and other activities a Grade A listed building on
Carden Place, Aberdeen. The cOng￿gation fonns part of the Scottish Episcopal Church and adheres to the
Canon5 of that church, Regular service5 are conducted on a weekly basis in addition to the major church
festivals. Holy Eucharist is held every Sunday at 8 am and 10 am and a further service is held each Wednesday.
Study courses and meditations are held during the year.
St Marfs became the Prtrcathedral of the Diocese in September 2020 due to the temporary dosure of St
Andrev/s Cathedral. Worship recommenced in St Andre￿S in November 2021 wlth St Marfs remaining the
Pro-cathedral. Since the resignation of the rector in June 2023 services have continued thanks to the efforts of
our Assistant Priests Revd Ro8er Dyer and Revd Jason Hobbs, supported by a team of dergy and lay members.
The vestry is currently In dlscussions with the Diocesan Bishop with re8ard to findin8 a new rector.
Over a dozen social and fundraislng events were held during the year. Charitsble donations were made to
Barnardo's, Community Food Snitiatives North East and Aberdeen Cyrenians.
The buildings committee has continued to focus on the planning for a new East Garden Area. The project is
intended to rectify a number of problems in the east area of the church grounds through the repair and
replacement of a damaged draina8e system, repair and rePla￿rnent of the path and access steps and the
relandscaping and replanting of a derelirt 8arden border area. Planning pennission was obtained during late
2024 and, followin8 successful fundraisin8 efforts, work is due to start in the summer of 2026. The vestry is
confident that the project will be completed by the end of the year. augmenting funds already raised through
8rants and donations Wlth some thurch reser¥es.
Following the sale of the existing rectcry in early 2025 the vestry purchased a rn0￿ modern replacement
property. Safety. insurance and compliance activities have been carried out and the vestry is managing
inspections while recruibnent efforts continue.
Yinancial Review
During the financial year the Church achieved an overall surplus on all aciivities of £48,250. £44.788 related to
unrestricted general funds of which £21,61J) represented the net surplus from the sale of the fonner rectory
and purchase of a new property. The surplus on restricted funds is lar8ely due to transfers in the year from the
general fund in orderto keep timln8 of receipts and payments in balance.
At 30th September 2025 the balance on unrestricted reserves was £166.322 {2024 £121,534) and on restricted
reserves was £22,207 (2024 £18,745).
Reserves
The vestry is keen to replenish church reserves which have been depleted in re￿nt years. The church has been
successful In securlng grants to fund repalr and refurblshment projects and continues to apply for funding for
ongoing work.

Investments
The Church's sole Investment is in the Scottish Episcopal Church Unit Trust Pool ("UTV). administered bv
Baillie Gifford. The investment policy of the UTP is to eam a return on the assets. over the long tem, sufficient
at least to maintain the ￿al value of the distribution to unit holders. The UTP has developed an ethical
investment policy. No investments wlll be made in companies who derive more than 15% of their revenue
from tobacco, gambling or armaments. The majority of its funds are invested in UK equities.
Structure. Governance and Management
St Marfs is an unincorporated association and a member congregation of the Diocese of Aberdeen and
Orkney in the Scottish Episcopal Church. It is therefore governed by Canon law of the Scottish Episcopal
Church. For the purposes of charities law. the members of the vesty are the charity trustees of the Church.
Ordinary vestry members are elected by the congregation at the annual general meeti￿. Where insufficient
nominations are received to replace those ordinary members retiring by rotation the vesty may, following
discussion. c(Fopt additional members as required. Vestry members usually serve for a term of three years and
may serve for a maximum of two consecutive temis. The Rectorfs Warden is appointed by the Rector and the
People's Warden by the congregation. The Secretary and Treasurer are appointed by the vestry annually. The
Rertor is chosen by the vestry and appointed by the Bishop of the diocese.
Rlsk Management
The vestry regularly considers the rlsks faced by St Marfs and ensures that approprlate risk management
procedures are in place to mitigate those risks. These include protection of vulnerable groups, safe use of
bu15dings, electrical inspections and relevant Insuran￿5.
Vestry Respon51bllitle5
The vestry is responsible for managiwd and safeguarding the assets of the Church and assists the Rector in
matters affecting the spiritual welfare of the congregation. It Is also responsible for keeping proper accountlng
records and ensurln8 that the accounts are prepared In accordance with the term5 of the Charltles and Trustee
Investment {Scotland) Act 2005 and the Charities Accounts {Scotland) Regulations 2(K16 (as amended>. It is
also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
As charity trustees the vestry is responsible for preparFng a trustees. annual report and financial statements in
accordance with applicable law and United Kingdom Accounting Standard5. The law applicable to charities in
Scotland requires the charity trustees to prepare financial statements for
each year which show a true and fair view of the state of affairs of the charity and of the income and
expenditure of the charity for that 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 SORP;
Make judgements and estimates that are reasonable and prudent;
and prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume
that the charity will continue in operational existence.

Relationship with Diocese and Provlnce
St Marfs supports the diocese and province through the payment of an annual quots which is assessed for
each church acc(xding to its finanaal means. In ￿tUrn, the province and di0￿Se provide the pastoral
oversight of the Bishop. central support functions at Ifiocesan level and ￿ants are available for specific needs
from ￿ntral funds. The Church Is represented at the Diocesan Synod by the Rector and the lay representative
who reports back to the congregation. Currentty one member of the congregation has been elected by the
Diocesan Synod to the General Synod of the Scottish Episcopal Churth and can serve for up to two ternis of
four years. The lay represents￿Ve also serves on Diocesan and Provlncial c(xnmittee&
Concluslon
St. Marrfs is an active participant in both its parent body, the Scottish Episcopal Church. and its community
whlch extends beyond the local concept of a parish, Including adherents the surroundlng resldences and
businesses and all parts of Aberdeen aty and Aberdeenshire. The members of the vestry would like to thank
all those who contribute their time, energy and money so generousty to enable the Church to continue to
flourish in our community.
On behalf of the vesty.
Vestry Secretary
9 July 2026

St. Marfs Episcopal Church
Independent Examinerfs report to the Trustees of SL Marfs Episcopal Church
I report on the finanaal statements of the charity for the year ended 30 September 2025 which are set out on
pages 7 to 12.
Respertive Responsibilities of Trustees arKI Examh)er
The charitys trustees are responsible for the preparation of the financial statements in accordance with the
terms of the Charities and Trustee Investment (Scotland) Act 2(X)5 and the Charities Accounts (Scotland)
Regulations 2006 {as amended).
The charity trustees consider that the audit requirement of Regulation 1011) (a) to {c) of the Accounts
Regulation5 does not apply. It is my responsibility to examine the financial statements as required under section
44(1) {c) of the Act and state whether particular matters have come to my attention.
Basls of Independent Examlnerfs Statsment
My examination is carried out In accordance wlth Regulatim 11 of the Charities Accounts (Scotland)
Regulations 2006 (as amended). An examination indudes a review of the accounting record5 kept by the
charity and a comparison of the financial statements presented with those records. It also includes
consideration of any unusual items or disclosures In the financial ststements and seeks explanations from the
trustees concerning any such matter& The pr￿edureS undertaken do not provide all the evidence that would
be required in an audiL and consequently I do not express an audit oplnlon on the vlew given by the financial
statements.
Independent Examlnerfs Statement
In the course of my examination, no matter has come to my attention:
l. Whlch gives me reasonable cause to believe that In any material respect the requlrements:
to keep accounting records in accordance with Section 44(1) (a) of the 2(X)5 Act and Regulation 4 of the
2006 Accounts Regulations (as amended). and
to prepare flnanaal statements whlch accord wlth the accounting records and comply th Regulatlon 8 of
the 2(X)6 Accounts Regulations (as amended) have not been meL
To whlch, In my oplnlon, attentlon should be drawn In order to enable a proper understandlng of the
flnancial statements to be reached.
Slgned
9 July 2026
Sam Walker FCMA
For and on behalf of ACVO
38 Castle Street
ABERDEEN
A8115YU

St. Marys Eplscopal Churth
Statement of Financial Activities
Year Ended 30 September 2025
Note Unrestrirted Restrirted
Funds
Funds
Unrestrkted Restrlrted
Funds
Funds
2024
Total
Total
2024
Income and endowments fronL'
Donations and legacies
Development grants
Other trading activities
Income from investments
Other income
Total Inmme
46,518
46,518
9,814
6.625
3,133
313.126
379,216
43.008
130
8.556
3.773
43,008
19,397
8.556
3.773
9.814
19,267
G.G2S
3,133
313.126
369,402
9,814
55,467
19,267
74,734
Expendtture on:
Raising funds
Charltable actlvltles
Other expendlture
Total Expenditure
(998)
1998
(31,971) {12,5071 144,478)
1291.526)
0 (291,526)
(324,495) 112.S07) {337,(M)2)
{487)
(49,4171
{487)
(51,8101
(2,3931
149,904)
{2,393)
{52,2971
Net Inu>me (expense)
Transfers between funds
Gains on ￿ValUatIOn of Investments
Net Movement In Funds
44,907
(6.155)
6,036
44,788
(2,6931
6,ISS
42,214
5,563
2,629
8,667
16,859
16,874
(2,629)
22,437
17
12
6,036
48,250
8,667
31,104
3,462
14,245
Reconclllatlon of Funds:
Total Funds Brought Forward
Total Funds Carrled Forward
121.534
166,322
18.745
22,207
140,279
188,529
104,675
121,534
4,500
18,745
109,175
140,279
The notes on pages 9 to 12 fomi part of these flnanclal ststements.

St. Marys Eplscopal Church
Balance Sheet
As at 30 September 2025
14ote
2025
2024
Flxed Assets
Investments
Total flxed assets
12
71.592
65,556
71,592
65,556
Current ASSets
Debtors
Bank and cash
Total current assets
13
14
6.133
112.675
118WJ8
6,394
69,573
75,967
Llabllities
Credttors falllng due wlthln one year
15
(1,871)
{1,244)
Net Current Assets
116.937
188,529
74,723
140,279
Net assets
Unrestrlcted Funds
General Funds
17
166,322
121.534
Restrlcted Funds
Total Charlty Funds
17
22,207
188,529
18,745
140,279
The ftnancial statements were approved by the trustees on 9 July 2026.
(Signed)
Lydia Ross
Treasurer
The notes on pages 9 to 12 form part of these financial statements.

St Marfs Episcopal Church
Notes fomiing part of the finanaal statsments for the year ended 30 September 2025
l Accounting Pollcles
The principal accounting policles. whlch have been applied consistently in the current and preceding year in dealing with item5
which are considered material to the financial statements. are set out below.
Basls of Preparation
The financial ststements have been prepared In accordance with Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordan￿ with the F5nancial Reporting Standard5
applicable in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014 and the Financial Reporting Stsndard applicable
in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment(Scotland) Act2005 and the Charities accounts
(Scotland) Regulations 2(X)6 (as amended).
The Church is a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Church's ability to continue as a going concern as
reserves are currently available to fund General Fund defiats.
Fund accounting
Funds are classified as either ￿StrICted funds or unrestricted funds. defined as follows.
Restricted funds are funds subjert to speofic requirements as to their use which may be declared by the donor or with their
authority or created through legal processes. but still within the wider objects of the charity.
Endowmentfunds arefunds which have been given on the condition thatthe original capltal sum Is notreduced, butthe income
therefrom is used for the purpose defined in accordance with the objects of the charity.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charlty. If parts of the
unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate
fund. This designation has an administrative purpose only and does not legally restrict the tru5tees' discretion to apply the fund,
Income
Income is ￿COgnised when the charity has entitlement to the funds, any performance conditions attached to the Item{s) of
Income have been met. it is probable that the income will be received and the amount can be measured reliably.
Expendlture
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commlttlng the charity to that
expenditure, It is probable that settlement will be required and the amount of the obligation can be measured relsably. All
expenditure is accounted for on an accruals basis.
Donated servlces and faclllties
Any material donated professional servlces and donated facilities are recognised as income when the chadty has control over
the item, any conditions associated wlth the donated item have been met, the recelpt of economic benefft from the use by the
charlty of the item is probable and that economic benefit can be measured reliably. In accordance wlth the Charitles SORP {FRS
102) the general volunteer time of congregation members is not recognised.
On receipt. any material donated professional servlces and donated faalities are ￿cOgnised on the basis of the value of the gift
to the charity which is the amount the charity would have been willin8 to pay to obtain services or facilitles of equib?lent
economic benefit on the open market; a corresponding amount Is then recognised as expenditure in the period of receipt.
Interest recelvable
Interest on funds held on deposit Is included when re￿1vable and the amount can be measured reliably by
the charity; this is normally upon notification of the interest paid or payable by the Bank or other deposit
holder.
Fixed Assets and Investments
The charity has the right to occupy and use for its charitable objects certain tangible fixed assets, including the Church
and rectory, vested with the Trustees for the Diocese of Aberdeen and Orkney in the Episcopal Church of Scotland.
No consideration 15 payable for the use of these assets. Expenditure incurred on the repair and maintenance of these
assets is charged as resources expended in the Ststernent of Financial Activitie5 in the period in which the liability
arises.
Fixed asset investments are stated at market Value at the balance sheet date. Un￿aliSed 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 rep￿sent the difference
between the proceeds on disposal and the market walue at the stsrt of the year or cost if purchased in the year.
Taxation
The Church is recognised as a charity ft)r the purposes of applicable taxation legislation and is therefore not subject
to taxation on its charitable activities. The Church is not registered for VAT and resources expended therefore include
irrecoverable input VAT.

St. Marys Episcopal Churth
Notes forming part of the financial ststemerts
For the year ended 30 September 2025
Unrestrirted Restricted
Funds
Funds
2025
2025
Unre#ricted Restricted
Funds
Funds
2024
2024
Totsl
2025
Total
2024
2 Donatlons and le8acies
Donatlons
Collections and donations
Glft Aid
Legacies
38.537
7.981
38.537
7.981
35,354
7,654
35,354
7,654
46,518
46,518
43.008
43,008
3 Development grnnts
Fabrlc
Peace garden project
East end garden projert
Other
1,513
1,513
1,615
5,000
12,652
1,615
5.000
12,652
130
19,397
8,301
8.301
130
130
9,814
9.814
19,267
4 Other tradln8 actlvltles
Fund ralsing actlvities
Rents from land and bulldlngs
1,625
1.625
2,866
5,690
8,556
2,866
5,690
8,556
6,625
6.625
5 Other In¢om&
Income from sale of rectory
313,126
313,126
Proceeds from sale of prevlous rectory on behalf of the Trustees for the Dlocese of Aberdeen and Orkney In the Eplscopal
Church of Scotland.
6 Charltable actlvltles
Locum fees
Repalrs and malntenan
Muslc expenses
Dlocesan quota
Telephone and offlce
Utllltles
Council tax and insurance
General church expense5
Independent examlnatk)n costs
(1,938)
(4,886)
14,lJ)2}
(6,858)
(3,549)
14,787)
(4,7861
(895)
(270)
131.971) {12,507
{1.938)
(17,393)
(4,(X)2)
{6,858)
(3,549)
14,78n
(4,786)
(895)
(270)
{44,478)
(2,562)
118.2221
(3.836)
(6,930)
{1,9961
(8,2471
15.925)
11.439
{260)
(49,417)
12,562)
120,615)
(3,836)
{6,9301
(1,996)
{9.247)
15,925)
11.439)
12601
(51.810
(12.S071
(2.393)
12,393)
7 Other expenditure
Cost of purchase of rectory
{291526)
0 (291,526)
Cost of purchase of new rectory on behalf of the Trustees for the Diocese of Aberdeen and Orkney in the Episcopal Church
of Scotland.
10.

SL Marys Eplscopal Church
Notes forming part of the financial statements
For the year ended 30 September 2025
8 Staff Costs and numbers
2025
2024
Total staff costs
Average number of employees
9 Trustee remuneration and expenses
None of the trustees received any remuneration during the current year or the previous year. There were no claims for
travel expenses and similar costs.
10 Volunteers
The congregation benefts from the contribution made by volunteers who give of their time and talents willin8]y for
the beneflt of the Church. There are many areas of congregatlonal Ilfe that rety on thls commltment.
11 Related party transartlons
There have been no related party transactions duri￿ the current year orthe previous year.
12 Investments
2025
2024
Market value at beginning of year
Unrealised gain on revaluatlon
Market value at end of year
65,556
6,036
71,592
56,889
8,667
65.556
Investments represents 2,149 unlts held In the Scottlsh EP15copal Trust Unlt Trust Pool.
13 Debtors
Gift Aid tax recoverable
Prepayments and sundry debtors
4,099
2,034
6,133
4,278
2,116
6,394
14 Bank and cash
Unrestrirtad Restricted
Funds
Funds
2025
Unrestrlcted Restricted
Funds
Funds
2024
2024
Total
Total
2024
2025
ZOZ5
Cash and bank balance5
22.207
112,67S
50.828
18,745
69,573
15 Credltors fallln8 due wlthln one year
2025
2024
Sundry creditor5
(1,871)
(1,2441
16 Analysls of net assets by fvnd
General
Restrfcted
Total
Investments
Net current assets
Net assets at 30 September 2025
71.592
94.730
166.322
71,592
116.937
188,529
22,207
22.207
11

St. Marys Episcopal Church
Notes forming part of the financial statsments
For the year ended 30 September 2025
17 Analysis of Funds
AtIOcL
2024
Income ExPendI￿re Trdnsfe
Gain on
revaluation
At 30 Sept.
2025
Restricted funds
Fabric
East end 8arden projett
Other
5.687
8.558
4.500
18.745
1.513
8,301
{4,290)
{8.217)
2.910
14,797
4,500
22,207
6,155
9,814
(12,507}
6,155
Unrestrirted funds
General fund
Total Funds
121,534
140.279
369,402
379,216
(324,495)
(337,002)
(6,155)
6,036
6,036
166,322
188,529
Purpose of restricted funds
The fabric fund is an amount set aside for the renovation of the Church.
The East End Garden project is a development of part of the church grounds forthe benefit of both Church
members and Ioc31 residents. It is also expected to rectÉfy certain drainage issues.