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← St Andrews Cathedral Inverness

2025-09-30-accounts

Charity registration number SC015830 (Scotland)

ST ANDREW'S CATHEDRAL, INVERNESS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

ST ANDREW'S CATHEDRAL, INVERNESS

LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees The Very Reverend S Murray -The
Provost
Mr J Smart
Ms H Holden
Ms C McLaren
Ms S Kodimah - Lay Representative
MrPWilson (Appointed 3 March 2025)
MrC MacLean (Appointed 3 March 2025)
Office bearers Ms J Mackenzie Treasurer
Charity number (Scotland) $C015830
Principal address 11 Kenneth Street
Invemess
IV3 5NR
Independentexaminer Rhona Wilson BA, FCCA
MacKenzie Kerr Limited
CharteredAccountants
Redwood
19 Culduthel Road
Inverness
V2 4AA
Bankers The Bank ofScotland
Inverness City (809126) Branch
PO Box 1000
BX2 1LB
Royal Bank of Scotland pic
Inverness Head Office
29 Harbour Road
Inverness
IV1INU

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ST ANDREW'S CATHEDRAL, INVERNESS

CONTENTS OF THE FINANCIAL STATEMENTS

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Page
Trustees report 1-3
Independent examiner's report 4
Statement offinancial activities 5
Balance sheet 6
Notestothefinancialstatements 7-18

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ST ANDREW'S CATHEDRAL, INVERNESS TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 ne

The members of the Vestry of Inverness Cathedral, who are the trustees of the charity, present their annual report and financial statements for the year ended 30 September 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 Cathedral's principal activities include public worship in sacrament and prayer, Christian education, charitable work and fund raising for local, national and international needs.

Volunteers

The Vestry is grateful for the time freely given by volunteers, without whom many of the activities would not be possible.

Achievements and performance

The Cathedral building is open daily to welcome many visitors each year who wish to visit for silence, prayer and worship. The Cathedral offers a place of worship, a place for the community, hosting a number of concerts and events throughout the year. The Cathedral is a popular visitor attraction in the city. This last season has seen an increase in visitor numbers to both the Cathedral and to the city of Inverness, and the Cathedral and the trustees reviewed how the building welcomed visitors and continues to enhance this aspect of the life and work of the building and community. The Cathedral continues to offer online worship as well as in-person worship, with full Choral services and an increase in the offering for families, children and young people. The Junior Choir has been much appreciated and enjoyed this year with three of our young people securing the first of our Junior Choral Scholarships as they begin to transition to the Senior Choir. This year the Cathedral has offered two Choral Scholarships and one Organ Scholarship, all with active participation in the RSCM Voices for Life programme as well as the scholarship programme offered by our Director of Music. The cathedral has hosted a number of services and events with December and Christmas being a particularly popular time. A number of concerts are also hosted and the popular series of, “Let the Organ Thunder’ and the ‘Cake and Concert’ afternoon series provide a place of music and culture to compliment the building.

The number of visitors and tourists has increased and the number of cruise ships has been seen to return with the anticipation of the coming year to be the largest number yet and the trustees have worked with a specialist in looking at the sustainability of the Cathedral.

Its ancillary buildings are made available for community group and educational purposes.

Financial review

This year, the Cathedral ended the financial year with a net deficit of £17,306 (2024 - £64,341). The Cathedral must continue to raise sufficient income on a sustainable basis to cover outgoings, due to the constant repairs and maintenance cost associated with the Cathedral buildings.

In 2025, the Vestry managed a mixture of restricted and general reserves:-

The restricted funds are funds held on specific trusts that are declared by the donor when making the gift. The restricted funds at the year end amounted to £72,956 (2024 - £67,743).

The general fund at the year end is £187,855 (2024 - £210,374).

Reserves policy

The trustees’ policy has been to hold sufficient unrestricted funds to enable the charity to fund any foreseen deficits out of past reserves, whilst still meeting the ongoing commitment to maintain the fabric of the Cathedral and other recurring expenditure.

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ST ANDREW'S CATHEDRAL, INVERNESS TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 eeeeee

Risk management

The Vestry keeps under review the major risks to which the Cathedral is exposed and has established procedures to mitigate any risk identified. This includes health and safety, and the protection of children and vulnerable adults.

Plans for future periods

The Vestry, under the guidance of architects and their advisors, will continue to maintain all the buildings of the Cathedral! estate. A Quinquennial Report has been undertaken and will inform the process of regular maintenance and ensuring that urgent and essential works are sought to be covered. The Vestry will revisit and pursue plans for renewing, repairing and replacing fitments as funds allow, seeking to find funding through all possible sources as well as raising funds within the Cathedral activities. Grant funding is being explored to enable the maintenance of the cathedral and other associated buildings. Carbon Net Zero is a consideration for the coming years, with the Rectory already reaching the targets for Carbon Net Zero 2023.

Structure, governance and management

In terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, the Vestry reports to the Congregations as follows:

The temporal affairs of the Congregation shall be under the management of a Vestry consisting of the Provost ex officio, the Lay Representative, the Alternative Lay Representative, ex officio and not more that ten, or fewer than three constituent members, three to be a quorum. Any lay person in regular paid employment of the charge shall be ineligible for membership of the Vestry. The Vestry shall meet at least twice a year, and the Chairman, who shall have a casting as well as a deliberate vote, shall be the Provost, or in the case of their absence, a member elected by the Vestry.

Special meeting of the Vestry may be called at any time at the request of three members given in writing to the Secretary of the Vestry or at the request of the Provost. Of the elected members, at least two shall retire annually and shall not be eligible for re-election that year (but this shall not apply to the Secretary and/or Treasurer if members of the Vestry). As between members of equal length of service on the Vestry from their last appointment to it, the members to retire shall be elected by ballot. Casual vacancies in Vestry membership occurring between annual general meetings of the Congregation may be filled by the Vestry until the next annual general meeting. All members of the Vestry shall be selected from constituent members of the Congregation.

The trustees who served during the year and up to the date of signature of the financial statements were: The Very Reverend S Murray - The Provost Ms A Haigh-Forsyth (Resigned 4 November 2024) H Crawford (Resigned 3 February 2025) Mr J Smart Ms H Holden Ms C McLaren Ms S Kodimah - Lay Representative Mr P Wilson (Appointed 3 March 2025) Mr C MacLean (Appointed 3 March 2025)

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ST ANDREW'S CATHEDRAL, INVERNESS

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Recruitment and appointment of trustees

Vestry members are elected or appointed by vote at an annual general meeting established by constitution and under Canon Law of the Scottish Episcopal Church. There is no formal induction programme in place for new trustees but training is given to ensure that Vestry members are familiar with the Cathedral's values, aims and responsibilities as the designated trustees of the charity. The Scottish Episcopal Church has a section dedicated to Vestry Membership on the website: https:/www.scotland.anglican.org/vestry-resources/. They are also made aware of their responsibilities through reading the Office of the Scottish Charity Regulator publication 'Guidance for Charity Trustees - acting with care and diligence’.

The trustees report was approved by the Board of Trustees.

“ .

The Very Reverend S Murray - The Provost Trustee

~ Ms S Kodimah - Lay Representative Trustee

Date: 2%|.0019.08.0.

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Date: oe 26 February 2026 eee rere

ST ANDREW'S CATHEDRAL, INVERNESS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

a. a. a. a. a. a. a. a.
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations andlegacies 2 107,959 10,425 118,384 106,923 20,171 127,094
Charitable activities 3 132,188 17,629 149,817 125,575 31,491 157,066
Other trading activities 4 24,376 - 24,376 43,341 - 43,341
Investments 5 1,018 . 1,018 980 - 980
Total income 265,541 28,054 293,595 276,819 51,662 328,481
Expenditure on:
Charitable activities 6 289,708 24,137 313,845 362,640 34,805 397,445
Total expenditure 289,708 24,137 313,845 362,640 34,805 397,445
Net gains/(losses) on
investments 11 1,648 1,296 2,944 4,623 - 4,623
Net income/(expenditure) and
movement infunds (22,519) 5,213 (17,306) (81,198) 16,857 (64,341)
Reconciliation offunds:
Fund balances at 1 October
2024 210,374 67,743 278,117 291,572 50,886 342,458
Fund balances at 30
September2025 187,855 72,956 260,811 210,374 67,743 278,117

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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ST ANDREW'S CATHEDRAL, INVERNESS

BALANCE SHEET

AS AT 30 SEPTEMBER 2025 i

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 211,574 214,842
Investments 14 34,149 31,205
245,723 246,047
Current assets
Stocks 7,300 5,001
Debtors
Cash at bank and in hand		 15 17,785
80,210		 24,994
61,169
105,295 91,164
Creditors: amounts falling due within
oneyear		 16 90,207 59,094
Net current assets 15,088 32,070
Total assets less current liabilities 260,811 278,117
The funds ofthe charity
Restricted income funds 18 72,956 67,743
Unrestricted funds 19 187,855 210,374
260,811 278,117

The financial statements were approved by the trustees on 26 Jo2 202

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Ms S Kodimah - Lay Representative Trustee

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ST ANDREW'S CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 DS ee

Charity information

St Andrew's Cathedral, Inverness is an unincorporated association established on 6 May 1912.

1.1. Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". 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 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, other than investments which are included 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.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

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.

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.

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

7

1Accounting policies (Continued)

Charitable activities include all expenditure relating to the running of the Cathedral and the support and governance costs relating to these activities.

1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvements 25 years straight line basis
Organ 20 years straight line basis
Equipment 10yearsstraightlinebasis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

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1 Accounting policies (Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method uniess the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

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2 Income from donations and legacies

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----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |funds|funds|funds|funds| |2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |Donations|and|gifts|95,727|8,925|104,652|94,352|2,218|96,570| |Legacies|1,000|-|1,000|1,000|-|1,000| |Grants|410,000|1,500|11,500|10,000|17,953|27,953| |Bell Tower|1,232|-|1,232|1,571|.|1,571| |107,959|10,425|118,384|106,923|20,171|127,094| |Donations|and|gifts| |Congregational|and| |voluntary|giving|95,727|7,129|102,856|93,822|.|93,822| |Special|collections|-|1,796|1,796|530|2,218|2,748| |95,727|8,925|104,652|94,352|2,218|96,570|

----- End of picture text -----

3 Income from charitable activities

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----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |funds|funds|funds|funds| |2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |General|activities| |Admission|fees|88,061|-|88,061|73,254|-|73,254| |Grants|-|15,229|15,229|-|31,491|31,491| |Property|revenue|36,742|-|36,742|43,515|-|43,515| |Sundry|income|7,385|2,400|9,785|8,806|-|8,806| |132,188|17,629|149,817|125,575|31,491|157,066|

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4 Income from other trading activities

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||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |Fundraising|events|6,723|15,511| |Shop|income|17,653|27,830| |Other trading|activities|24,376|43,341|

----- End of picture text -----

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

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5 income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Dividend income 1,006 963
Interest receivable 12 17
1,018 980
6 Charitable activity expenditure
General
activities		 General
activities
2025 2024
£ £
Direct costs
Depreciation and impairment 22,990 22,050
Diocesan quota 29,999 30,002
Clergy costs 49,091 44,712
Property costs 74,879 99,729
Cathedral expenses 94,090 69,318
Shop and tea room 606 1,593
Administrative expenses 15,921 88,971
Special collections and charitable expenditure 21,269 31,029
308,845 387,404
Share ofsupportand governance costs (see note 7)
Governance 5,000 10,041
313,845 397,445
Analysis by fund
Unrestricted funds 289,708 362,640
Restricted funds 24,137 34,805
313,845 397,445
7 Support costs allocated to activities
2025 2024
£ £
Governance costs 5,000 10,041
Analysed between:
Generalactivities 5,000 10,041

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

a

7Support costs allocated to activities (Continued)

==> picture [429 x 174] intentionally omitted <==

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Governance|costs|comprise:|£|£| |Accountancy|3,500|7,241| |Independent|examination|4,500|2,800| |5,000|10,041| |8|Net movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for the|independent|examination|of the|charity's|financial| |statements|1,500|2,800| |Depreciation|of owned|tangible|fixed|assets|22,990|22,050|

----- End of picture text -----

9 Trustees

During the year, remuneration including employers pension contributions of £42,038 (2024 - £42,885) and employment benefits of £nil (2024 - £nil) were paid to The Very Reverend Sarah Murray, who is a trustee and the key management personnel, for her services to the charity.

Expenses paid to trustees in the year totalled £2,150 (2024 - £341). These expenses were made to one trustee reimbursed for miscellaneous expenses (2024 - one trustee reimbursed for expenses).

10 Employees

The average monthly number of employees during the year was:

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|||||| |---|---|---|---|---| |2025|2024| |Number|Number| |8|12| |Employment costs|2025|2024| |£|£| |Wages|and|salaries|105,281|130,722| |Social|security|costs|2,276|2,713| |Other|pension|costs|706|1,347| |108,263|134,782|

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Redundancy and termination payments totalling £1,549 were made in the reporting period.

There were no employees whose annual remuneration was more than £60,000.

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

  1. Gains and losses on investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Gains/(losses) arising on: £ £ £ £ £ £ ;
Revaluation of
investments 1,648 1,296 2,944 4,150 - 4,150
Sale of investments . - - 473 - 473
1,648 1,296 2,944 4,623 - 4,623

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Tangible fixed assets
Property Organ Equipment Total
improvements
£ £ £ £
Cost
At 1 October2024 332,460 40,892 75,565 448,917
Additions 17,214 - 2,508 19,722
At30 September2025 349,674 40,892 78,073 468 639
Depreciation and impairment
At 1 October2024 158,680 37,290 38,105 234,075
Depreciation charged in the year 13,987 2,045 6,958 22,990
At 30 September 2025 172,667 39,335 45,063 257,065
Carrying amount
At30 September 2025 177,007 1,557 33,010 211,574
At30September2024 173,780 3,602 37,460 214,842

The Cathedral and related buildings are not included in the balance sheet. In the opinion of the trustees these buildings are heritage assets, the cost or valuation of which is not available and cannot be obtained at a cost commensurate with the benefit of the users of the accounts.

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ST ANDREW'S CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

14 Fixed asset investments

Listed
investments
Cost orvaluation £
At1October2024
Valuation changes 31,205
2,944
At 30 September2025
34,149
Carrying amount
At30 September2025
34,149
At 30 September2024
31,205
15 Debtors
Amounts
fallingduewithinoneyear:		 2025
E		 2024
£
Trade debtors
Other debtors 13,103 5,220
Prepayments
andaccrued income		 3,001
1,681		 17,586
2,188
17,785 24,994
16 Creditors:amounts falling duewithin oneyear
Notes 2025
£		 2024
£
Othertaxationandsocialsecurity
Deferred income
Trade creditors		 17 7,967
27,806		 5,355
16,252
Other creditors 46,901 29,403
Accruals 629 885
6,904 7,199
90,207 59,094
17 Deferred income
2025 2024
£ £
Other deferred income
27,806 16,252

17 Deferred income Other deferred income

Deferred income is included in the financial statements as follows:

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. Deferred income (Continued)
2025 2024
£ £
Deferred income is includedwithin: 27,806 16,252
Current liabilities
Movements in the year: 16,252 34,204
Deferred income at 1 October 2024
Releasedfromprevious periods		 (16,252)
27 806		 (34,204)
16
52
Resources deferred in the year
Deferredincomeat30September 2025 27,806 16,252
Deferredincomerelatesto rentsand wedding bookingspaid in advance.
48 Restricted funds
The restricted funds ofthe charity comprise theunexpended balances ofdonationsand grants
subjecttospecificconditions bydonors astohowtheymaybeused.
At 1 October
Incoming
Resources
Gainsand
2024
resources
expended
losses		 heldon trust
At30
September
2025
£ £ £ £ £
Inspire
Rectory maintenance - Unit
TrustPool
ChoralScholarship		 7,621
32,551
-
-		 9,736
-
1,500
128		 (11,366)
-
(1,500)
(128)		 -
1,296
-
-		 5,991
33,847
-
-
Stipend grant
Verger'sSalarygrant
BenefactTrust
Inverness CathedralMusic
Special collections		 -
25,453
2,118
-
-		 5,200
.
7,294
1,796
2,400		 (5,200)
-
(3,113)
(1,796)
(1,034)		 -
.
-
-
-		 -
25,453
6,299
-
1,366
Other
67,743 28,054 (24,137) 1,296 72,956

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ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

18 Restricted funds (Continued)

Previousyear: At 1 October
2023		 Incoming
resources		 Resources
expended		 Gainsand
losses		 At 30
September
£ £ £ £ 2024
£
Inspire
Rectorymaintenance
TheCathedralMusicTrust
ChoralScholarship
Stipend grant
Benefact
Trust
Inverness
CathedralMusic
Other		 5,725
34,105
-
-
.
11,031
-
25		 24,788
-
4,050
1,500
1,153
17,953
2,218
-		 (22,892)
(1,554)
(4,050)
(1,500)
(1,153)
(3,531)
(100)
(25)		 -
.
-
-
-
-
-
-		 7,621
32,551
-
-
-
25,453
2,118
-
50,886 51,662 (34,805) . 67,743

The charity manages the following restricted funds:

Inspire - funding received from various grant funders for the combined purpose of providing food and Clothing to members of the public whose families struggle to Provide. rectory.Rectory maintenance - Proceeds from the sale of the rectory in 2021 to be used for the upkeep of the new The Cathedral Music Trust - An award for three choral scholarships and one organ scholarship. Choral scholarship - An award for a choral scholarship. Stipend grant - This grant is used to reduce the monthly cost of the stipend to the cathedral. Verger's Salary grant - This grant was received to support the funding of the verger through winter. toSpecialthird parties.collections and donations - This represents the special collections and donations held for distribution Benefact Trust - This represents a grant given for disabled toilets at Kenneth Street Hall.

Inverness Cathedral Music - This represents donations received for the purpose of choral funding. Other - This includes a grant for the purchase of tables and tablecloths.

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ST ANDREW'S CATHEDRAL, INVERNESS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

49 Unrestricted funds
Theunrestrictedfundsofthecharitycomprisetheunexpendedbalancesofdonationsandgrantswhichare
not subjecttospecificconditionsbydonorsandgrantorsastohowtheymaybeused.Theseinclude
designatedfundswhichhavebeensetaside outofunrestrictedfunds bythe trusteesforspecificpurposes.
At 1 October
Incoming
Resources
Gainsand
At30
2024
resources
expended
losses
September
2025
£ £ £ £ £
General funds 210,374 265,541 (289,708) 1,648 187,855
Previousyear: At1October
2023		 Incoming
resources		 Resources
expended		 Gainsand
losses		 At30
September
2024
Generalfunds £
291,572		 £
276,819		 £
(362,640)		 £
4,623		 £
210,374
20 Analysis ofnetassets betweenfunds Unrestricted
funds
2025
£		 Restricted
funds
2025
£		 Total
2025
£
At 30 September 2025:
Tangible assets
Investments
Currentassets/(liabilities)		 211,574
302
(24,021)		 -
33,847
39,109		 211,574
34,149
15,088
187,855 72,956 260,811
Unrestricted
funds		 Restricted
funds		 Total
2024
£		 2024
£		 2024
£
At 30 September 2024:
Tangible assets
Investments
Currentassets/(liabilities)		 214,842
211
(4,679)
210,374		 -
30,994
36,749
67,743		 214,842
31,205
32,070
278,117

-17-

ST ANDREW'S CATHEDRAL, INVERNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

21 Operating lease commitments

Lessee At the reporting end date the charity had outstanding commitments for future minimum lease Payments under non-cancellable operating leases, which fall due as follows:

2025 2024
£ £
Within one year
Between two and five years 5,096 2,786
17,836 4,179
22,932 6,965

22 Related party transactions

During the year, donations of £5,167 (2024 - £3,225) were received from the trustees. At the balance sheet date, ENIL (2024 - £15,000) was loaned to Cafe Ness by the Cathedral, a company in valuewhich oftwo £21,693 of the fromtrusteesthe company.are members. During the year, the Cathedral purchased assets and goods to the

-18-

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