ST ANDREWS CATHEDRAL, INVERNESS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEWiENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
ST ANDREWS CATTrEDRAL INVERNESS LEGAL AND ADMINISTRATIVE INFORMATION OIMG• bMr•r• Ch•rty numb•r ISe¢AlaTrdl %l:n15830 Prin¢lpal •ddf• Indellt •MInOr maCKenZ Kerr Lmited 19 Cukluthl Rood Invom••8 Bank•rn Bart ol ScoJ¥#J InDe CXY I91> PO 8ox1C BX2 1LB Rwi Bankof Scdl8nd [ Inm•s8 ¢j Ollke 29 Hartwr Ro1 Irr•¢rr*8• IV1 1NU
ST ANDREWS CATHEDRAU INVERNESS cOrENTs OF THE FINANCIAL STATEMENTS Pag• Bal¢0 7.17
ST ANDREWS CATHEDRAU INVERNESS TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Th& mgmbers of the Ve81ry of Inrn Cathedral. #re the trustees of the (tharity, wesent their annual report and fin8rti818tatemwts for the yoar •nded 30 SWemb8r 2024. The finanrial stateThnts have been prepared in accudance wih the OUnting Fo1icio$ set out in note 1 to th8 financial stalernents and tcmpty with Ihe Chwibes aThJ Tnjstoe Inv•Strnt ISo)dandl Act 2005. the Charitiès Accounts IScx)Ilandl Regun5 2C la$ omeThJedl and -Attounting and Reportin9 ty Chantes. St8tom•nt of ReCMeJed Prath"e• aFplKatrAe lo tharitses preparw Iheir ac0nts rdaThce with the Fin9nci8I Rgpyllng Stsndard applK8bLp in the UK and of Ir¢land IFRS 1021" leffecai¥p 1 Janu&y 20191. Oblqetlv•• •nd actlvlll•• The Cathedral's prinupal athvitses inJde worshy in swmoni #nd wa>pr. Christian •thhn. th8rf18ble woth and fund raiwng lor kncal. naticrfal and 1ntwnaiI need5. Volunt••rn The Vestry is gratelul for IM gi1 by tAlthtyJt many of Ihe wjjth would not b• po8t48. AchSev•m•nl• •nd p•rfornMne• The Cathedral builthng 1$ open daity lo welcom• many wsitors exh year woh to for sIn¢•. prayer and worship. The Cathethal offefs a place ol worship, ¥ plac for the c(Mnmunity. as 11 80 a F#)pulpr ¥isrtof attractK In the dty. Thi8 kist Season has s1 an iTh79&5e in wsrtor numbers to bolh th8 Cathedral and lo the cty of Invemèss. The Cathedral continu•s lo offer w¢Yslwp as well as in-pefson worship, wilh fvll Choral SeIS and an inc¥ease in the offering fof famil. thlklren and your4J peopl•. The adth.rm tsl ? new Junior Choir has boen muth apyeryated and enjoyed thi5 yw. This year the Calhèdral has off•rèd three Choral Scholarshrps and ona Organ Stholarship, all with ltvo portKVaiJn in the RSCM VoKs fof Lrfti prOgraMn as wem as tha schokrship progfamme Offer by our Oirector ol MU. The cathedral ha5 hosled a nurnber of services and events throughout 2024 to mark the 150th Anniversary ofthe ConSoua.0fv of the cathedr A number ol concerts are Bl80 )Sle an(J tha popular of. 'Let Ihe Ctr9an ThuThJ8r' th•'Ce WKI Ct, Prode a plac• of mu6ic and cuttur• lo ¢tynpliment the buildlng. The number of wsitors and tcwJi8ts has aThl the Thjnber of (xuls• ships h•$ ¢¢¢n to rtum lth th• antpatIOn of the comlng y•af to t¢ the kryesl nurter yot. A mèmtér ol staff wrns empw lo woth wlh the Trustees to rd sustain8blÈ inwrne 8trearns and plan lor frJtuf• su$t•in#bility. 118 gndlary bu4dlngs rna available forc)mnwrity gr¢w •nd pur[e$. Flninelll rnvl•w This year. the Cath•drnl ded the fina4a1 year wlth a n81 ¢knt of£64,341 IW23- £42.3741. Th• C#thgdro1 rnu¥l continue lo rais• $uffv¢nt inrye on a 9jStanab balis to ¢a74W du8 to th8 censtant repairn and mainl•narth CO a5sccated wrth the Calhedfal buiklwy. In 2024, Veslry managed a nwxtum of r¢8tr¢ted aThJ genera roswMs'.. The Testricted luThYs ar• fLmd$ hehj on 3peok Ihal arn d#dar•d by Ihe dcrfKr when Mn9 thè grfl. The reslrictod funds at ygof end oUnted to £87,74312023- £9).8861. Thé OUra1 fijntj #t Iho 8TrJ 1$ %0.374 IW23- £291.5ni. polky The trustees. policy has been to hokj suff¥xnt unr8str¥Atd fvnds lo enable the thanty lo fiJThJ any foreseen deficats out ol past resÈNÈs. whilst Still meeb'ng cw"NJ c£ffirnrtmt lo maintsin the fab of the Cathedral and other rwrring wJend1tu. Rijk m•Mgement The Vesty keeps undèr the rnapr risks to whth the Calhedl 15 exposed has estaNished proceduTr$ to rnthgate any risk Klentrfd. This irK4LK18s heatth aThJ safety. and th8 Wotection of chiklr8n and vulnerable adutts.
ST ANDREWS CATHEDRAL, IIIVERNESS TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Plan• for futur• p•rlods The Vestsy. under the gidCe ol arthrds and Iher ah"sors, wll continue to m•ntan all the buiWJings of the Cahedral esiate. A QuirquennHI Report ha5 b99n LThl8rtaken and wll infonn prLWS of regukr ma¥rt)anc8 and ertsuring that urgent an¢J esseniiai works are b) te 0)re(l. The Vestry wil rlsit and purnuts pl8n8 renwng repairing Jnd repknng fints & fvnJ$ allr, 6eokJ"n9 to find fi1 throu9h all Fo$$iblo soure0$ as wdl aG raising fvnds withn Iho Cathedr•l >dNths Grant fuThJing is beirwj expkJr¥J to enat4e the mawilenance of the cathra1 afva othof associated buildng$. Cathn Nel Zero is • ¢5eTab.0n tha o)miny yoars, wrth the Reciory area¢ty re•ing the targets for C•rton Nei ZeTO 2023. Stwcl•. govern•nM •nd minag•ffixit In terms of ine Chaniies Trustee nvostsnerl (So4nd} ALI 2fA)5 and th• Ch•rkns AKLwnt> (stIr) Ragul•ith$ 20(8. tho Vestry reports to Its Corfftiions as fo.. . Sl And1$ Caththl. In¥emw Is estalrshed by cfnstthth#)n Is a rogsternd S¢th$h Charity (No. SC015830). 11 Is 8 mernber ol the ohx•s• of Moray. R{ ¥nd CaNt•)e$s of ir 8c4)thsh Epixop•l Churth and is in full ftYnuThTr With Ih•Angltsn Church. . Tho Supe auth Li tl &sh¥s ol Morny. Ros8 8nd Cathm JI its fin8nci4 affairs are by the Provost and Vesbry. teffl affairs ol careaOn 8W bw me mw9ornern of a LYmlsllThJ ol th? Provosl ex offrio, the Lay ReprnsoniatNo, Ihe AJlett8lN¢ Lay RepreJefi¢8tsve. ex offiTh¢ and not more Iwt t•n, l•w4r than thr99 COThBtitu•rt r¥wn•r4. thr•• lo bg a Any lay rwJL•r poid ernploymentofthe thgrge shall b8 SndvJible for memb8rship of the Vesby. rhe Vestry shall meet at ast 1c¢ a year, and the Chairm, who shall havg a Cas'n as wo11 as a ddtheraie vokn, thal be tt PfobDst. or case of thwr ab$er8, a member Wgctou by the Vestry. Spocial mg•ting of th• V•8try may b• ¢4lled al any fvme at the rewest ol fflembws gen In wrlilng to the Secrelary of Ihe VKtry IM al the wu¢st )f tre Prryrtjst. 01 Iho ol•ied members, at as1 bvo $hall fetire annual and shall n¢1 t• 81gble r&dtdK)n Ihat year Ibul this shall not aY to the Secr?t8ry anOr Treasurw Il memr3 of th& Vthy). A8 b0tw•en membor8 Ot eq1 n9th of on the Vasty fiom thelr Idst appDiDIITient to , the membors lo r•tiffj sh•1 b• •lxaed by balbt. C•sLwl bocancts in VefAry membarship 0rring bth••n annual gen•ral ma8tiTrJ6 of th• Congf•g8b'on miy be fllBd ty the Veslry untl fv 7 g•nwal maDtino. Al m8mbersofth¥ Vestry shall be l¢thJ Irn cStrtt mgmbers of the cgregatIon. Tho tnTsiees ivho saprt #urn e yey 8nd.Jp the ol slgnte oltty? flnl s1gAÈrn•rtg wer•.
8T ANDREWS CATHEDRA¥ INWERNE&S TRUSTEES REPORT {CONTINUED> FOR THE YEAR ENDED 30 SEPTEMBER 2024 RKwltm•rt appointm•rt oftru¥t• V¢slry dethd ¢Y appc•nted ty NYJt• al an aThnl ger4 n&ng ostabfished by ciJnstitul¥)n and under Cancffl Law of Ihe SLX)tbsh EF4so)pal Church. TherB is no fomMI inducb.on prfyjfamme in Flxo for ntr trusteos tr1 training 18 giv to SUre Iha Veslry members are famllkr wth Cathedral's valu0$, arms aTra rowsibilitios as th• doiwJnat•d tru8 ol th• eharity. The Sc4)ttth Epix•po1 chu haso seclion dedic•led to Vestry Mernbership th8 veb5rte htWsJA¥th.scotland ani4th1.tglvesiry-ros0ur They are also ma¢So •w•r• ofthdr responsiknlthes throW reac19 0fv4 (4 fv S6h Chariy Rewlalor Wlt.j1anCe frr Chaity Trustees- actir¥J with eaffj arKJ diligee.. The Iru3tees reoort was approved by 3oar4J of Tru5tg08. Truste• rustso l..*....F.E4.ILuAKI. ao>s
ST ANDREWS CATHEDRAL IIIVERNESS INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF ST ANDREWS CATHEML, INVERNESS I roport cffi th• ffinanual oflh•charity ts the ye8rwthd 30 S8ptWTkn 2024, set outon paoe$ Sb)17. Re4poctiv• m•p11111ej ol 1•••n •x•miMr ¢harrtls Iruslees are respble lorthe PWEpwalw of Ihe finwwl aaiements in accor¢anc the terms of the Charhk8s and Trustee Iri¥estm8nt ISwtlarn11 Ad 2LM)5 and the ChawiDts5 Arxnunts ISGoUandl R¢guLqtionJ 2008. th8rity trust$ ¢on$ider that the authl r•oir•mwt Lrf ROg#tm 11X11(aHcl of th• Charits Al)UntS (Scotlandl Regulats)ns 20(6 dces nolapply. 11 is my r8sponsib"ty to 8xamin tho finantsal stnwnts a5 requred undw s•rtiJn 44{1}l¢l of th8 ChwhleB and Trustee Investrntnl (sAland) Ad 26 10 ststo wfielher paTtirJJlar m•tt#rs have come to my attents"on. B4•1• ol Ind•p•nd•nt •x•rnlMrt 8ti•m•nt My exarnlnalon Is carrfed OJI kn wxord•nL¥ ilh Regu1 11 cl th¢ ¢hwilies A¢¢thJnt8 Iscotknd) Regulath9 2006. An exaTrNnotion includes a ol th8 accwiti19 r•cords k•pt by t ¢h•nty •nd a cx¥npgrison of the financial s13ternants pr•s•nted wrth those rècords. Irthos WlSK1efat(Jn of any unusLoI iteTh5 or dwlosUS the finan¢ial statements, S99n9 exFdanabons fr(rfn t trust8es ojncefrnng any suth fflatterl. The tK•dures undertsken do Tr)t prowde all ihe &b•JCe Ihat woukj be oquired In an aYrt an¢ ¢S•qUent I do noi exprgu an audN t)pIn on the Stalen. Ind•p•nd•nt •x•mln•e• •tst•m• In th8 cDUr ol my oxonwnthin. no my atl•ntl 1. whkh gIS me reasorwbb ¢ause lo b•llev8 thatln any menal resFect t requiremerts.. to keep accountng rectyds in X£4Xdce wth SedvJn 4411llal of the Q)antt•s and Trite• Inv•sirr IScoll8ndlAct 2005 ansj Regulalon 4 of Charibe5 A0nts IS(xJYarwJl Re9ulatv)ns 20. and ID wepgro fin8w81 siat•m•ni$ whi¢h xcord tho aC¢oun9 r•coth arJ eomrAy wilh Regubtion 8 01 thè CharitresAm)unts Iso)tlondi R•athal•Jn8 2r have not boon m•t, or 2. to whk. In my orthkn, attenllon drn kn wder lo a wvper undorstlnthng of the finJTrSal MacKenzie Keri Limited Clwrt8f8d A¢rthntanl$ Rthlood 19 Culduihel Road Inverress IV2 4AA 14 FebnJary..2025
ST ANDREWS CATHEDRAL, INVERNESS STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Totsl fvnd• 2024 nd• 2024 fvnd• 2023 2024 2023 2023 InGom• Ivom: oMan$ and lega(aes CharitabK Other trading acbvit 1C18.923 125.S75 43,341 20.171 31.491 127.094 157.C 43,341 176.186 110,239 28.053 97T 14,269 24,718 190.455 134,957 28,053 977 Tot•1 Iorn• 276.819 S1.eA2 328,481 315.45S 38.987 354,442 Expondltyrn on: Ch•fhat4e a111•• 362.610 34.805 397.445 368.134 28,115 394,249 Totsl •xp•ndltu 382.610 34,805 397.445 388.134 26,115 J4,249 gainsl(10s8081 on in¥081monts 11 4.823 4,623 12.$871 I2,n N•t In¢om•ll•xp•ndltsx•) 181.1981 18.857 164.3411 {55.2461 12,872 {42.3741 Tf•n¥fer$ befv¥een funds 13,$2SI N•t mo¥•ffl•nt In d• 181.1981 18.8S7 164.341) ISl.7211 9,347 142,3741 R•conclllatlon of fund•: Fund balarnxs ai 1 Ocai>tr 2023 291,5r2 .888 342.458 343,293 41.539 384.832 Fund balanu• •¢ 30 S•pt•n•r 2024 210.374 67.743 278.117 291.572 50.888 342,458 The stat•mant offinancal acbvtss irn*Aes al gamis recognSs&J kn Ihe yw. All irK¥e and exp8Thlrtur• deriva continuing acbvities.
ST ANDREWS CATHEDRAL, INVERNESS BALANCE SHEET AS AT 30 SEPTEMBER 2024 2•24 2023 Flx•d a8Mts Tangible assBts lthestmerts 13 14 214 842 31.205 236,277 31,582 248.047 267,859 Cury•nt I•ts 8tock5 Deblor8 Coth at ténk and in ha1 6.IYJ1 24.994 61.169 3346 16 103.22S 91.1e4 146,808 Cr•dl)r•: rnnts fll•ng on• y•ar 32.07L) 74.599 Towi ••••t• l•#• ¢uii•rt Uablltl• 278,117 342.4S8 Th• lund• dth• ¢h•rlty R•otrlet•d ndS Unregtricknd fuThJ8 87 743 210.374 50.886 291,572 278,117 342.458 3RA) Fe6£uA9 XOJS ' The ffnanclal État•m•rts ty th8 tru8t on ......................... Trw•t••
ST ANDREWS CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlw pollclp Charfty Infonmlion StAndrew's Cathedral. Invo?8 is li8t• alsotr estab18hed on 6 May 1912. 1.1 Ac¢ounflftg e¢)nwnllon Thtr finanaal slatements have teen prepa in 0)rdK$ wlh the LaritYs goveming (kncument. the Gharitt'es and Tnjstee Investrnenl (Scotland) Act 2th)5, CharitEs ALfLJunts (Scoland) Regulations 2008, FRS 102 Yhè Financaal Reporting Standard apFAtykn in the UK aThJ tsf Irelan(r' and the Chari$ SORP"Aceountin9 ènd Rewting by Charibe$.' Ststement of Recommendad prai applicab$8 to dwnl$ epanng their a¢x)unts xcordafi the Financial Rep)rthng Standard applicable in th¢ UK and R8publlc of Irelwvj {FRS 12).. The thwity 18 a Put Benefrt Entity as d¢fmed by FRS 102. Thg ¢honty has taken adnI&ll• of the the SORP rK>t to prepar• a ¥latemeni of Th finandal stAt¢ments are prepared in slwkng, 18 the fvrKl4 CANrw• of th• tharlty. Monotsry amount5 in these ffinandd 8tatn¢ni$ are round&J to th• n8af•Sl £. Th• flnanca•l $talemert8 ha¥• bg•n wepared th• trd8tcito1 cfjii Lth8r than Intments whth ore Induded at fa value. polkaos adwed we sot out bo1tr. 1.2 Golng ¢onc•rn At lh8 Ima ol png the finandal stst8rn¢nt$. the Irust•e8 have a r&asonab eypectthn that Ihe thDrty has ad•qugtg resource8 to eontinue in operatKJnal estan¢ for foteseeabl8 future. Thus Ihe trustees nbnu• •dopt th• kKJiThJ of xc4Junlg th wwriryd firwSal 8tatrnts. 1.3 Ch•rltabl• fund¥ unre8th.cled fidS ar• glble fL¥ um al Iho InNt•M In of thalr charltabl Object. R•slrkW fvnd8 ar• 8ubieca lo by ¢J)rKYs or ¥Y8ntcn •B to h¢M tsy may bp used. The 1xirF01 #nd u8e8 ofthe r•slrhd fvThl$ w• set out in lh• ncl•s ffinwKyal stal•m•nts. Endowmont funds We subjed to sp•df¢ c%wh18 ty ¢knN8 that th• eapil•l nwJJt be mntained by the 1A Incorne Ineome 18 r•cogni8ed wthen dwrity i¥ Wty entilled to tt after orry perfrymm o)ndttkYrt h8¥• been rnet, amounls rAn be measur8d r¢lki1kn. aThJ it ks FKobabl• that ire wll be r8ceNed. of th¢ donatw. unless perf0mnCe rnquir8 d•ftrral of the amunt. Inwme tax recoverabkg in relan io donations fe¢eN8d un¢Jer GrfIAid or deeds of o)venant 18 reco9n¢sed at th• tim8 of the donation. L•gaLYèS a fwxgnised on rocéyt or othen¥ise rf the tharlty has been notified of an Impending diSbu)n. th¢ amoun¢ is known. and r•tipt i¥ expected. 11 th• amcth is nrA kn¢MI, the legaty is treated a6 iwt a98et.
ST ANDREWS CATHEDRAU INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Ac¢ounllny polId ICt)ntlnu•d) 1.6 Expendltur• Expenditure is recognLY tlw• Is a al w oJnstruth"w otgatiOn t¢ transf8f econorn ten8fit to third paty, it is probab thal a transfer ol l>no¥¢ bentrffts wll be requ¥•J in S¢lUonwt, and the •mount of the ot41ga1k ¢an t4 mSUred Charftabl• ¥KJdè avndit to the nJnrnvJ of lh• catt[81 aTrJ tha supwt and 1.1 T•nglbl• fix•d 1•ts Tanw'ble fixed assets arn initL81ty masur•J al Subseq ot cost or valualiryb. n•t of ¢J8preciation and any impaThent bs99$. 0opreoioft 18 rncfjgriwj w 0$ wYrt• off the ( voluakn OfaSl¢S1 th• rndual wa¥¥ tmr thalr usethjl li$ on th8 follovArg bases: 25 strahjht line ba 20 y•s stra4hl line ba 10 yews strn¥ht line basls Or9an Ewlkynent The 99in N kjss arfsry on the disposal of an 8¥set is dèt•d a8 the diifer8nce behveen thg salg proc•8d8 and the urrying v8lue ol the aL and Is reco3nised in thè slatemenl of finoncial actiwties. 1.7 FIX •••t Inv••lrn•nt• Flx•d asset inveslments we Initwlty meosur•d at transactyi pl, arrfl 8re subwu¢nty measurod at lair v•lw at •ath rewb'ng d•t•. Ch•ngM in are recowMMd kn not kno)1{exndIII01 the year. 1.8 Impalmwnt of fix•d •ts Al each repoiling end dale, lh• chanty lh8 wmuntfj of kn langltkn 8ts•ts to d•t•rmine whether ih8re Is any widicalw that those a$5el$ have suffered an imp•imnl kns8. If any such iThJicatlon exi81s. the récovérab amounl of Il 0$881 is 08im•W n der to deiermiAe the 8xtenl of the impairment ss Irf any). 1.9 Sto¢ Slc<ks sial•d at olcosl and estimaknj selng PIKX leJ3 oxts to o)mWtr 4r ¢dl 1.10 Cuh and u•h •qulval•nts Cash aTrJ cash equivaleni3 Indje cash in hand, dwits hekj al c811 with banks, other short-term liquld Inve81mert$ wth ofwJinal maturities of thr88 Tr[9 or l•ss. and bank overdrafts. Bank overdrafts ar• shtrém wrfhin bcrning$ li tsJrr•nt liabl1. t.11 FIAanclal In•trurnents The tharity has •kded to appty lh¢ wo¥151ons ol S•dK)n 11 'Basic Fin#n¢ial Instrurrthts. arKI S¥dion 12 'Olher Finanaal InstnJments Issues. of FRS 102 to ol Df its fwnoal SIr[DWI. Fin¥KI inslruments rwnised balwc 8t1 tho tharity b90)nS party to the contradual provision8 of irtstruftwrt. Financkal assels and liabilrts are offset. with th• nal amowts wesented in the financwl ¥l•taments. when there is a Walty enlor¢eable right to set off the r*ctvJnis8d arrounts and there is an Intenti to settle on a net basis orto realise Ihe asset and 5etMa the I'aNity 5wnultar18oty.
ST ANDREWS CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A¢tIng pollcl•• IContlnu•dl Bawc finanual assels. whith inrjude debtcrt 8nd e4sh bank balanc¥s, are initity ffawred at transaction PriL i[KdIng transa costs and are SubSeqnIty farnied at rnbsed ¢ost usiro th• aff8cb interest mhj Un$5 the arraThJ8ment C>)nstilute$ a finang tr¥n$artn. where the tran$ad)n 18 m•asurod 81 Ihe present value ol the future recs disCatsd at ¥ market rat• of interest. Ffftan(xd as8Ots da551f as recwvable vrithin ono y¢•r ar• not anrtIsed. B•¥i¢ ftMncWll•bllltl• Bas financaal liabilit3. induding cndrtorn arJ bk loans af• initialy recogni6ed at transacllon fv unl985 the arrangement nstitUt•S a ffinaKb3 transact. whem lh¢ dobl instsum8nt ra m¢asured al the present e of the f¢Jture payments disc3yJnted al a market rat• of intsrest. Fin1 habrlilies da5srfd as payab ithin one yeaf ar• rd Debt instruments or• $ubsequw ¢xriod al •711 QllL tho •11othw kntere8t rate m•thod. Tf8¢e ¢redI1 ar8 Ot4vJation$ to pay for X#J$ or seic•S thai ha%fj 8cquir9d in the Ordary course ol OFerations from plars. Arr#Jt8 payabkn aro c48sslfiod p¥ rjjrrenl h.815 rf payment is due within on• year of knss. 11 not. th8y are pSentj as nowment Iwt¥lrts. Trado credilors are recognlsed Inhlalty at transaction pricé and subsfjqu measured al cost th• èff&tive interest nthOd. D•reeognlUon ollln•n¢Wll•blllH•s Flnanrial liabilit$ a d8recogni when the rAKth¥¢A oblgakn •xsN(¢ d¢WwTg or ncelled. 1.12 Employ•• b•n•llts Th• eos¢ of unu•ed holday •ThtNlgnrt w re(w$•d in th• pewknd th• •nploy¢•'$ sewbices are T•miinalkn benefft6 ar• re¢&3rthd irThrwdl•ty 98 an •xp¢n the carty 1$ dernon8tfrtJly I>ThAtted to temiknat• t •rnpbyment ofan ryloy•• 10 t•mMnalkn b•ngfft1. com• Ir¢m don•lk>M and l•g•cl•• T¢)tsl lund 2024 lund• 2024 fund• 2023 fund• 2023 2024 2023 Donath¢)ns •nd 9rf18 LegacAes Grants Bdl Tcrw•r 2.218 96,570 99.708 64,234 23. 2,613 64.234 10.C 2.613 10,rKKJ 1.s71 17.953 27,953 1,571 13.9Q) 1t6.923 20,171 127.1)94 176,186 14.269 1W.455 Donatlon• and gill• C(ryregational aThJ ¥c4untsry gMriJ Specfjal rd*'on5 93.822 2218 2,748 369 2218 .$70 99.339
ST ANDREWS CATHEDRAU 114VERNESS NOTES TO THE FINANCIAL STATEMEKrs (CorINuED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Totsl lund• lynds 2024 nd• 2023 lund• 2023 2024 2023 G•nernl actrllle• Admis?ion 1¢¢$ Grants Pfopety renue Sundry ItM• 73254 73254 31.491 43.515 88.298 68,298 24,718 25,201 16.740 31,491 24,718 43.515 2S,201 18.740 125.575 31,491 157.IM6 110.239 24,718 134.957 Unr••trl¢l•d Unr•trkl•d lund• fvnd• 2024 2023 Fvndr¥i$ing 9nIS Sly Inc*)rne 15,511 27.830 10.187 17.868 43,341 28.053 UMMtrlet•d Unr••trkl•¢l nd• fund• 2024 2023 Othw incth Interest rncelv 17 21 977 10-
ST ANDREWS CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEFYfEMBER 2024 Chirltsbl• ¢trrty •xwid#w• O•n•rnl acilvltb•g 2024 2023 tXr•ct coats D8pYeaatlon gnd imwm)ont cte8an qwta Clwgy costs PropeJty 818 C•thedral e¥pen6e8 Sh)p and tèa room Admini8tr8trye exponsol Splal coll•¢*n$ wvj ¢Jwttat46 expwklknre 22.050 30.2 44,712 99.729 69.318 1,593 88.971 31.(Y29 21,845 XS.178 43,027 98,431 3,682 80.431 Sl.619 387.404 386,181 s of •upport and gov•rn•nG• ca•ts IM• nots 7 Gthman 10,041 397,445 394.249 An•ty•h ty fw Unreslnthd furKJ8 R•strtd8d fund6 362.840 368,134 28,11S 397.44S 394,249 Support ¢ts •lo¢•tsd to •¢llvJtl•• X124 2023 10.041 8.088 10.041 8,088 2023 Gov•m•nc• ca•ts conwrl••: Autht lees Legal and wofes8iJn ALxYNJnt 1.418 4,272 7.241 10.041 11
ST ANDREWS CATHEDRAU IIIVERNE55
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
N•t mov•Jn•nt In lund•
2023
Tho nel rnovemenl in fijnds h ststed after (wgintylrJediting)'.
Fees payatAe for th• irKlepet)d¢nt WUnatK of Ihe chaiiiYsfinanLial
Depr•da1 olowrndtarvJiLlo a$80ts
22,060
21,845
During the y•ar. r8mLneraknon •idAkng emphJyer8 pension contributions of £42.885
employTh¢nt baneffits d £nil (2023-£Th"r) wore paNJ to
the key management Fersonnol. forher ser¥K•sto the Ganty.
Even1 Pa to in tt J• tol•M•d £341 Q023 . £2.3931. Th•w exp•ns•s ww8 mAd• to
trustee rnimtsjrged lormiul8roLS expwws r2023. on& Inth reimbLna1 for expenses).
2023 - £39 5241 and
who 18 8 trust18 •nd
2DZ4
NumlJ•r
z[123
Nurnb•r
12
11
)24
2•23
130,722
2,713
1347
122,748
2,611
Sc
ST ANDREWS CATHEDRAU INVERNESS NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2024 12 T•x•bon The charity LI •xamptfrom its b#cw80 18 is applled for tharftable wrrth•s. 13 T•nglblÈ fix•d 11¥ Equlpii At 1 Ociobar 2023 Addrtion$ 332,49 40.WJ2 74,950 615 448,302 615 At 30 Septemb•r 2024 332.480 40.8W2 75,565 448.917 D•pr•ciatlon and knpalmnt At 1 October 2023 D¢we(xation charged In y•af 145.382 13.298 35,245 31.398 6.707 212,025 AI 30 S•pt•mb•r 2024 158,680 37.) 38,105 234,075 rArykng At 30 September 2024 173.780 37.4eo 214.842 At 30 SoPt•mt•r 2023 187,078 5,847 43.SS2 238,277 Th¢ Cathedral and ieJat&Y K11j$ ore not indwJ8d In th• bala 8ho&t. In th• ofthe tru8t•81 Ih88• tldIng5 are hethag8 asws, the cost (Y valuatson of whth nL •valLgbl• PA ¢arM be obtaln•d at a CfAt commen8urat8 wrth benefft of Ihe users olth8 14 Flx•d a•••t Inv••trMnts U•t•d In¥Mtm•nts Co•t OrlUON At 1 October 2023 Valualion tharbj Disposals 31,S82 4.150 14.5271 At 30 S•ptsmbgr 2024 31,205 ryinq •mount At 30 Septombef 2024 31205 At 30 Sw¢mber 2023 31.582 13-
ST ANDREWS CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 16 ogblorn 2024 2023 Amounts lalling du• tA4thln y••r. Trade debtor8 Other debt Pr¢payTh8nts and Ino)mg 5,220 17,586 2,188 19.827 17,315 3,1 24,994 11 Crndltort.. imounl• f•lllng du• ¥Athln an• y••r 2024 2023 Othef layotion and sodal SeIty Defefred income Tr8d8 credrtors Oth•r cr8dito A¢uual$ 17 18.252 29.403 34.204 28,977 2,116 8,912 7.199 59.094 72,209 17 D•f•rr•d orn• 2024 2023 18,252 34.2Q4 Defefr•d inc4ud•d In ts finan 8tsknnts 88 lolcws.. 2023 Deferred incom818 induded wthin.. Curr8nt Ikibilit*s 16,252 34.204 Movèments In the year 08f8rr8d income 4t 1 October 2023 Released from weylous R8sources deferred the 134.2041 16.252 34204 Oefeffed I[M• at Y) Se0ern 2024 16,252 34204 14-
ST ANDREWS CATHEDRAL. INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 18 R••trl¢t•d lund• Tht re8lrtthd fijnds of lh8 thaiity oynwise the unexp¥d ball$ rf d{Thn8 ar•J grants on trust ¥ubiect to specific conditron$ by don$ as to thay may bè usèd. At30 2024 5.72S 34.105 24.788 122.892) 11.5541 14.0501 11.5CQI 11.1531 13,5311 7,821 32,551 R• mainienarK4 The Cathèdr•l Music Tnmt Cthl Scholars Stlpand grant 8enefact Trust Inv•m8ss Cathatha Mus Other 1.153 17,953 2218 11.031 2,118 125) 51,882 134.805) 87.743 Pv•vlow y••r. At 1 Octob•r Incomlrq •U¥ Tr•n•f•rn 2022 At30 t•mb•r 2023 IniF4rn 20,721 (21,079) 1511 14X)I (1,9XII (2.047) 5,725 34.105 35.458 The C¥ih¢dral Mux TnMI Choral SChOr$hiP S*'Fenl grant Speaal &Ykn¢bon• and donatiws Benefact Trusl 2.047 (3441 11.031 2.894 11,031 25 16M) Q2251 38.967 128.115) (3.525) 15-
ST ANDREWS CATHEDRAU INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 18 Rostrlct#d fund• {Contlnuqdl Th• charlty manages ts t41tykng iesirthd fvnds". Insre . fijnding recewed frorn varIS gra fijndws for thvj m)ld wrpose of prtsbrydlng locé aTrJ dothlThJ io members of lh8 publicwhose families Strug0 to wMJe. Redory Matsrtena . prr••ls fr(¥n tho sde ol th• In 2021 to be tho upkeep of th¢ naw Th• C¥lhedrnl MUSK TnJ¥t.An Ihro• la1 8dKlarnhy$ and ono orw clal sthc4arnhip. kn awwd for a dwal S&($Np. st1pd grnnt. Thil want 18 U8•d to feduce tho mtyitrAy t1 of tho stiFvKJ to ts c•th8thal. Spedol ¢dl¥dkn8 and donouw. Thr& r•w•80rt• th? ¥poci41 c•18COn8 ar•J donalbn$ hekl for d18trIb1On lo Ihird parbes. Berth Tw•t. TIMS represwts • grant d11j ttyl8ts at n8th Stfget Hall. Invamtss Cath•Jral Musk. Tec0i4d fv)r th8 wrpos• old1 fundlng. Other- Th18 Indudm a grnnt ts the PUTtha80 oltsbkn aThJ laAK)th¥. Trnn•f•r olfund• In tha y•ar ts 30 SWemb¢f 2023. 8 transfer of fvThJ$ wa$ m0 the rectory malntenance fvjnd gnd th othèr fund follrmlng the purthosa of a shwj and les. The reslit$ havirg bn dlscharged vAth thtr purth# 8s8•ts. tho v4ue Of1 8s8ots was Ir¥nthff•d to th• fvThJ. l• Unr••trkl•d lund• Th• unrestrvAed funds oftho ¢arity MplI th• bal ol (k>nalions and grantswhith ar• not 8ubi8ct lo Speci coTrJilions by 11cor$ gr8ntNs to h¢M they may t u8¢d. Th88e inclL dwgnat8d funds wh• ho t>aon set asKJe out of unrgslndad lunds by the truste95 spedk purp0808. At l Octob•r IncomlThJ R0¢•1 Tranf•r• G•ln• and At30 2023 rn•our¢M •xp•nd•d lo•M• S•pt•mb•r 2024 General fuThJs 291.ST2 278.819 2.640) 4,623 210,374 Prevlw• y••r. At 1 Octob•r Incomlng R•wiru• Tran•f•rn and At30 2022 p•ndfjd loM•• S•pt•mb•r 2023 G•n8ral fuTrJs 315.455 .134) (2.56TJ 291.572 16-
ST ANDREWS CATHEDRAL. INVERNESS NOTES TO THE FINANCIAL STATEAIEpirs (coKriNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 20 AMtyl• of n•t u•ts lthw•n lund• Totsl lund• 2024 fund• 2024 2024 At S•ptnbgr 2024: Tangibh ass•t$ InvestrnlS Cunnt a8s•wbé1rt) 214.842 211 14.8791 214,842 31,205 32,070 36.749 210,374 87.743 278,117 (knrn¥trk RMtrlct•d fund• 2023 T¢)t•l 2023 2023 At 30 S•pt•mb•r 2023: TaThJIa ass•t$ Inw$lm¢nts Currenl a888111?I6yOI) 236.277 238,277 31,582 74.$99 31,582 19.J)4 291.572 342,458 th• dal? ts ¢arty had Otann9 tnments lor futtxg ffarlmum payTrwrt8 undar 2024 2023 thin one yeor 2.786 4,179 3.343 8,358 6,5 11.701 22 R•lat•d party tr•nMctlM• During tho y, d¢ywb)n$ c4£3.225 from ts trustees. At thè baL4nce sheet dale. £1S.fXQ 12023 . £15,LKW)) ke1 to Cale Cathedr¥l, a c£mpany In which one of Il* InJ51ees is a membw, was to the tharty. 17-