Charity No. SC015766
Church of the Holy Cross
Annual Report and Accounts
FOR THE YEAR ENDED
31st AUGUST 2025
Church of the Holy Cross
Annual Report and Accounts for the year ended 31** August 2025
| Contents: | Page |
|---|---|
| Vestry Report | 2 |
| Receipts and Payments Account | 6 |
| Statement ofBalances | 7 |
| Notes to the accounts | 8 |
| IndependentExaminer'sReport | 11 |
« Ts.
Church of the Holy Cross Vestry Report for the year ended 31st August 2025
Reference and Administrative Details of the Charity, its Trustees and Advisers
Scottish Charity Number: -
$C015766
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Members of Vestry:-
Appointed:
Rector, Appointed 1/9/25 Rector, Resigned 14/9/24 Rector’s Warden, Lay Representative Secretary, Retired 17/11/24 Secretary, Appointed 17/11/24 Treasurer
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Elected:
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People’s Warden, Alternate Lay Representative
Elected 17/11/24 Elected 17/11/24, Retired 12/8/25
Website
holycrossedinburgh.org
Bankers: -
The Royal Bank of Scotland Edinburgh Corstorphine Branch 239 St John’s Road Edinburgh EH12 7XA
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Structure& Governance
Holy Cross is a registered Scottish Charity [SC015766] within the Diocese of Edinburgh in the Scottish Episcopal Church. The superior authority is the Bishop of Edinburgh.
Vestry members are the Charity Trustees of the charge and are responsible for managing the financial and temporal affairs of the Congregation, maintaining in good order the fabric and property of all the buildings and keeping under review any risks to which the church may be exposed. The Vestry also assists the Rector in matters affecting the spiritual welfare of the congregation. The members of the Vestry hold office as determined by the Constitution and are elected at the Annual General Meeting. The Lay Representative who represents the church at Diocesan Synod and Area Council meetings is elected annually by the congregation at the Annual General Meeting. The People’s Warden is elected by the congregation at the Annual General Meeting and holds office for one year. The Rector’s warden is appointed annually by the Rector. The Vestry Secretary and Treasurer are appointed by Vestry.
Day to day management is delegated to the Rector and officials, with the Vestry authorising policy relating to temporal affairs. The Rector is responsible for the spiritual affairs of the Church and is assisted by the Vestry and members of the ministry team.
Vestry considers major risks on an ongoing basis and is satisfied that systems are in place to manage these risks. Risk and control activities include vulnerable groups policy, health and safety assessments, financial control procedures and regular financial monitoring.
The Church has insurance cover through Ecclesiastical Insurance against a range of risks appropriate to the activities of a Church. The Rectory is insured through Royal and Sun Alliance. The level of insurance cover, which is considered adequate, is reviewed on an annual basis.
Obiecti & Activiti
The objectives of the Vestry are to advance the mission of the Christian Church, through worship, service, fellowship and outreach. These objectives are carried out through mission and pastoral activities.
The principal activities of the Church are public worship, the spiritual development of its members and its social responsibility activities. The Holy Eucharist is celebrated twice on Sunday, on Wednesday and on the first Friday in the month. Fund raising is undertaken for local, national, and international needs. As well as the donations referred to in the financial review, Holy Cross gives support to Fresh Start, The Edinburgh City Mission, Live Music Now Scotland, and the St Salvador’s Community Food Initiative.
All of these activities as well as maintenance of the church grounds and other one-off initiatives depend very much on volunteer support for which we are most grateful.
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Achievements& Performance
Since the departure of our full time Rector in September 2024, Holy Cross has continued to thrive. toOverStenhallthis o use)w forperiod, andthe ourreducedwe interim wereclergyledllbyhoursour and part-timeprovi curate oral care toerour congregatsharedservwith i ceon patternandSt Salvador’sothers slightlywith support from our Lay members. Our ongoing partnership with St Salvador’s, Stenhouse included shared services and support for their Community Food Initiative. We have further developed our link with the congregation at St David's Pilton where our former Assistant Priest Es based.
We continue to act as a Community hub for local children and families. There is an area of church set aside for children and their parents with informal seating and activities available during services when needed, although our formal Children’s Ministry has reduced with the departure of our Children’s Minister to Perth. An after-school club uses our hall four afternoons per week providing much needed support for families, and we host a weekly mother and toddler group. The hall is also used by a range of evening and weekend groups of all ages, including Brownies, Guides Pilates, Yoga and Keep-Fit, Art Club and is a popular venue for children’s birthday parties. Our Live Music Now Scotland events were held in the Winter term, and we were again involved with the local Community Christmas Lights committee who use us as their base for a major fundraising event at the start of Advent each year. This year, more than 4,000 people of all ages came into our church buildings and grounds for this event. We held a successful Christingle Service for local families when the church was filled to capacity and maintained our tradition of linking with other local churches for Community Carol Singing in the local pub in December. We continue to share Easter services with local churches including an ecumenical service at the beach on Easter Sunday.
Our church building continues to be used by three separate Syrian Orthodox congregations. We are very pleased that over our period of Vacancy, church membership has remained steady and indeed we have attracted new members and carried out five baptisms. Members of the congregation continue to provide pastoral care for our congregation and others. In line with Diocesan recommendations members of our Vestry have attended appropriate trustee training courses. The team of volunteers maintaining our church grounds ensure that we all benefit from our environment.
Over this period, we have maintained our properties and have carried out extensive work on the OverRectory the year(including we advertised,replacing theinterviewed,kitchen) toandmake appointedready for a newthe Rector,arrival of the our Revd. new a... took up her post on 1* September 2025. We look forward to developing our ministry with her and to developing our stated charitable purposes.
Financial Review
There was an excess of receipts over payments of £20,186. Congregational giving was 1% lower than in 2023/24 but was boosted by donations of £6,010 to the Fabric Fund. Gift Aid tax recoveries were 8% higher than in 2023/24. Rental income increased by £13,698 (108%) as anticipated. Following the loss of our two major tenants in 2023/24, we have successfully signed up new tenants to fill vacant slots, in particular, Daddy Day Care After School Club. We received a grant of £268 — the final payment towards the cost of repairing the Rectory stonework but had to return a grant of £1,800 towards refurbishment of the Church Hall following the postponement of the project in 2024 when the previous Rector resigned.
Expenses have fallen by £10,613 (13%). Asa result of the Rector’s Vacancy, there were no payments for Stipend or Pension Contributions, a saving of £45,852 from 2023/24 but this was offset by expenditure of £28,118 to refurbish the Rectory ahead of the appointment of our new Rector. We supported several charities including St Salvador’s Community Food Initiative, Friends of St Mary's Cathedral, The Scottish Churches Trust, Eco-Congregation Scotland, and the Bishop’s Lent Appeal. The value of our existing investments increased by £6,666 (8.5%) and our total reserves increased by £26,852 (23%) to £142,965 which comfortably exceeds our target.
Reserves
The Vestry has a policy of maintaining a reserve of £105,000 to enable the church to meet any exceptional outlay or drop in income.
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Plans for the Future
The Vestry along with our new Rector are looking forward to beginning discussions to form the basis of our plans for the next few years. We will continue to develop our links with the Diocese and ensure that as a place of active worship, we remain a visible presence in the local community. In line with many churches, we will continue to identify local needs and we hope to increase our membership through addressing those needs.
We wish to increase our links with the two other major churches in the area, Davidson’s Mains Parish Church of Scotland, and St Margaret’s Roman Catholic church. Strengthening of our ecumenical links and sharing of worship, when possible, reflects the agreements recently made in the St Ninian Declaration (RC) and the St Andrews Declaration (CofS).
We hope to embark on a major refurbishment of our church hall in 2026 to ensure it is a fit for purpose hub for the community and an attractive asset of our church. We continue to monitor and maintain our existing buildings and grounds.
Stat
tofR
ibiliti f Mem! FV
The Law applicable to Charities in Scotland requires the members of the vestry to prepare accounts for each financial year which gives a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing the accounts the members of the vestry should follow best practice and:
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e select suitable accounting policies and apply them consistently; e observe the methods and principles in the Charities Statement of Recommended Practice; « make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts and
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¢ prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Members of the vestry are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any position the financial position of the Charity and enable them to ensure that the financial statements, which they are responsible for preparing, comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The applicable law also sets out the members of the Vestry’s responsibilities for the preparation and content of the Vestry Report.
Members of the Vestry are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Conclusion
In conclusion, the Vestry wishes to thank all members of the Congregation who help in so many different ways in carrying out the work of the Church, without whom these results could not have been achieved.
BY ORDER OF THE VESTRY
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CHURCH OF THE HOLY CROSS
Receipts and Payments Account For the year ended 31st August 2025
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|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Funds|Funds|Total|Total|
|Note|2025|2025|2025|2024|
|£|£|£|£|
|Receipts|
|Congregational|Giving|2|51,901|6,010|57,911|52,550|
|Grants|268|0|268|11,012|
|Special|Charitable Collections|252|0|252|198|
|Receipts from|fundraising|activities|3|1,861|0|1,861|2,064|
|Magazine|196|0|196|282|
|Sundry Income|0|0|(8)|0|
|Investment|income|2,866|0|2,866|2,922|
|57,344|6,010|63,354|69,028|
|Rental|of Premises|26,335|0|26,335|12,637|
|Total|Receipts|83,679|6,010|89,689|81,665|
|Payments|
|Costs|of Generating Funds|0|)|0|0|
|Charitable Activities|4|67,503|1,800|69,303|79,916|
|Governance Costs|200|0|200|200|
|Total Payments|67,703|1,800|69,503|80,116|
|Excess of receipts over payments|
|for the year before transfers|15,976|4,210|20,186|1,549|
|Transfers|0|0|0|0|
|Excessof|receipts over payments|
|for the year after transfers|15,976|4,210|20,186|1,549|
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CHURCH OF THE HOLY CROSS Statement ofBalances
As at 31st August 2025
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|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Funds|Funds|Total|Total|
|Note|2025|2025|2025|2024|
|£|£|-|£|
|Bank|balances|
|At|beginning|of|year|35,279|2,800|38,079|36,530|
|Movement|in Year|
|Excess of|receipts|over payments|15,976|4,210|20,186|1,549|
|for|the|year|
|At|end|of year|51,255|7,010|58,265|38,079|
|Investments|
|Market|value|at|beginningof|year|78,034|0|78,034|68,836|
|Unrealised|gain|6,666|)|6,666|9,198|
|At end of year|84,700|0|84,700|78,034|
|Fund|balances (Bank & investments)|
|At|beginning|of|year|113,313|2,800|116,113|105,366|
|Cash|surplus|15,976|4,210|20,186|1,549|
|Movement|in|investments|6,666|ie)|6,666|9,198|
|At end|of year|5|135,955|7,010|142,965|116,113|
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Approved by Vest
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iG li ola
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Church of the Holy Cross Notes to the Accounts Year Ended 31* August 2025
L Basis of Accounting
The accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
Capital Expenditure
The Church, Hall and Rectory at Davidson’s Mains Edinburgh are not reflected in the accounts. Values for original cost are not available. Vestry considers that the cost of carrying out a professional valuation to include these properties in the accounts would be disproportionate to any additional benefit derived by users of these accounts.
Expenditure on the upgrading and refurbishment of Church properties is charged as a revenue expense.
Depreciation is provided at the following percentage on a straight line basis to write off the cost or initial value less estimated residual value of each asset over its expected useful life as follows.
Property (residual value always deemed to be in excess of cost)
0%
Pension Costs
The Church funds the pension contributions of the Rector to the SEC Pension Fund. These costs are charged to the Receipts and Payments as incurred.
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CHURCH OF THE HOLY CROSS
Notesto the accounts
For the year ended 31st August 2025
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| 2.AnalysisofCongregational Giving | ||||
| StandingOrders&cheques | 32,560 | 0 | 32,560 | 37,036 |
| Envelopesand Open Plate | 1,448 | 0 | 1,448 | 1,648 |
| Giftsand Donations | 6,040 | 6,010 | 12,050 | 2,874 |
| Tax Recovered on GiftAid Donations | 11,853 | 0 | 11,853 | 10,992 |
| 3.Fund RaisingActivities | ||||
| VotiveCandles | 155 | 0 | 155 | 118 |
| Rector'sLeavingCollection | 1,050 | 0 | 1,050 | 1,360 |
| Coffee/Lunch Donations | 656 | 0 | 656 | 586 |
| ist | a | 2,064 | ||
| 4.AnalysisofPayments | ||||
| Charitable activities | ||||
| Salaries, pensions,& national insurance | 0 | 0 | 0 | 45,852 |
| Altarsupplies, music& pastoral | 3,387 | 0 | 3,387 | 2,216 |
| Heating,lighting & cleaning | 12,155 | 0 | 12,155 | 10,611 |
| Rates&insurance - church/houses |
4,817 | 0 | 4,817 | 7,976 |
| Maintenance-church,hall& rectory | 6,940 | 0 | 6,940 | 4,569 |
| UpgradeofRectory | 28,118 | 0 | 28,118 | 0 |
| Returned Grant | 0 | 1,800 | 1,800 | 0 |
| Copying, stationery& internet | 1,635 | 0 | 1,635 | 1,515 |
| LeavingGift,Curate &InterimPastor Quota |
1,175 4,992 |
0 ) |
1,175 4,992 |
1,235 4,450 |
| Travel costs | 3,474 | 0 | 3,474 | 1,054 |
| Special CharitableDonations | 810 | 0 | 810 | 438 |
| 67,503 | 1,800 | 69,303 | 79,916 |
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CHURCH OF THE HOLY CROSS Notesto the accounts Forthe year ended 31st August 2025
5. Movement in Funds
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|At1Sep|Unrealised Gain/|At 31 Aug|
|2024|Receipts|Payments|Transfer|2025|
|£|£|£|£|£|
|Unrestricted|Funds|
|General|Fund|113,313|83,679|67,703|6,666|135,955|
|Restricted|Funds|
|Fabric|Fund|2,800|6,010|1,800|0|7,010|
|se|2,800|6010|go|70|
|Total|Funds|116,113|89,689|69,503|6,666|142,965|
|Purpose|of Funds Unrestricted Funds Unrestricted Unrestricted|
|General|Fund|This is the fund through which the day to day financial|activities|of|the Church|are recorded|
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Purpose of Funds Unrestricted Funds Unrestricted Unrestricted General Fund
Purpose of Funds Restricted
Fabric Fund This fund receives donations and grants towards the refurbishment ofthe Church, the Rectory, the Church Hall, the central heating systems and future significant capital expenditure.
6. Property
The Church, Hall and Rectory at Davidson's Mains are vested in the Trustees of the Diocese in trust for the charge, and adequate insuranceis maintained.The property is not included in the Balance Sheet.
7. Remuneration and Expenses paid to Vestry Members
None of the Vestry members received any remuneration or expenses relating to their position as vestry members.
The Rector receives a stipend and pension contribution in accordance with the SEC approved stipendiary payments. As is customary, the Rector, occupiesthe Rectory and Council Tax is paid by the Church. The post of Rector was vacant during the year and consequently no stipend was paid and no pension contributions were made. The Church participates in the Scottish Episcopal Pension Fund, a multi employer non-contributory defined denefit pension scheme. It is not possible to identify the shareof underlying assets and liabilities belonging to individual employers and so the Church accounts for its contribution as if the Fund wasa defined contribution scheme. The periodic actuarial valuation of the entire fund as at 31 December 2020 showsa surplusof £5.6m (2017: surplus £3.7m).
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES AND MEMBERS OF CHURCH OF THE HOLY CROSS
I report on the accounts of Church of the Holy Cross for the year ended 31 August 2025 which are set out on pages 6 to 10.
Respective responsibilities of trustees and independent examiner
The charity'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 charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the 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 Charities Accounts (Scotland) Regulations 2006 (as amended). 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 any 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 option 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 Act and Regulation 4 of the Regulations, and
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« to prepare accounts which accord with the accounting records and comply with Regulation8 of the 2006 Accounts 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.
18 October 2025
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