Independent examinetrs report on the accounts R•port to the Ghartynan trustse¥lmembers of st Drostans Episcopal C hurch= Insch R•glJtored ¢harlty SC 016Wk3 On th• accounts of th• charlty forth• perlod Period startdate Pertod and d8te D1 Y•r Yoar Ir•r(•rt•r p• R•8p•GtIv• The ch$ t¥18¥ atg rgswnwblg for the preparation of the accounts in accordartè rowon81bll0 ol Yth the t8Th8 01 the chan18 and Trustee Investy179nt Iswtyandl 2CK)5 A¢t 4n¢ tn tN•t•M •nd •xamln•r Chanbes Acox)unts (Scotlandl Regulatsons 2Lfe la$ amgn¢Jedl. Th¥ Ghanty trusltro$ c¥)n¥idor thot tho •Jdrt r¢quremeftt d Regulation 10111 Idl ol the Account8 Regulations do•# not apply. It ig rny rnsponsiLy"lity to •xamin• th• aCcnIS gs roquir8d under s•cb'on 44(1) Icl of Ihe Ad to 8t• vknelher p18r rn8tkns ha¥? come to my atrt8nts)n. 8h ol Indep•ndgrt My •xamination i¥ cri•d etyd•n¢• with R•9Ll•ttin 11 ot ts 2Cth AecoLmts •xamln•e# itatèmènt Regulations An ex8rnlnaliffl indud8s a rew6w ol thè ac£wnting rècx)rd8 kept by Ihe chanty and a C7mPan$0n ol th8 wjunts pr88enled with Ihose records. 11 also in¢lud8S Gon¥idèr8lKJn of any unusual it8m8 cf d18cbsure8 in the accounts and so&k8 explanation8 trom th¢ tru&èe8 COrMir Y sucth mafters. The procedures urnlertaken do not prowlle al the evtdfjr lhat te roquir&J In aft audit and, oysequently, I do not express an au¢Jit qM"ruon on the given by th? aGGounl8. kndep•nd•rt oxamln•e• In the ¢ours• of my •xanInatsn, no mthr has to my attMlkn •tat•m•nt whith 9rve8 m• r•asor•bl• t•li•vJ trt in •ny matgri•l rnspgd th• requirem8r. to keep acnting records in a¢¢ord¢o vith sedion 44111 {al d the 2005 Act and Regulabon 4 of the 2C(6 AccDunts R•3ulptirTh, and to prepare acJ)unts whid) acc(Jf(J unknnq reo)rds and ojnply witt) Regulabon 9 91 tho 2C(fj Aco>unt$ Regu19Um8 have not been mel Slgfted: Nm•'. Rél•vint profOlOnal quallnrAtlon{il or ljoty I any).. Aldrn8s.'
ST DROSTAN'S EPISCOPAL CHURCH INSCH
Accounts For The Year Ended 30 September 2024
Scottish Charities Number (SC016023)
1
St Drostan’s Episcopal Church, Insch (SC016023) Notes to the Accounts for the year ended 30th September 2024
1 Accounting Policies
Basis of preparation of the Accounts
The Accounts have been prepared under the Historical Cost Convention as modified by the revaluation of Investment Assets and are in accordance with applicable accounting standards, the Charities Accounts (Scotland) Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) issued in 2005.
Tangible Fixed Assets and Depreciation
The Church building has not been reported in the Balance Sheet as the Vestry considers it is not relevant to place a market value on it.
The Church building and Contents are insured at a replacement cost of £6.650,000 (2022 - £2,960,000). The useful life of the Church building exceeds fifty years. The Rectory at 17 South Road, Insch is valued at cost.
No depreciation has been provided against Heritable Property (Church) as, in the opinion of the Vestry, due to the long useful economic life of the property, no depreciation charge is necessary. Straight Line depreciation is charged on the Extension at 4%. Expenditure on other Tangible Fixed Assets is expensed as incurred.
Fixed Assets Investments
Investment are shown at current Market Value and unrealised gains / (losses) are included in the accounts
Congregational giving is accounted for when received. Donations, legacies and similar income are accounted for when St Dronstan’s Episcopal Church becomes entitled to the income and a reliable estimate of the income and a reliable estimate of the amount can be made.
Disposal of Investments
Realised profits and losses on Investments are recognised on the date of disposal and included in the Accounts.
Governance Costs
Governance Costs relate to those costs necessary to provide the Governance infrastructure which allows St Dronstan’s Episcopal Church to operate and generate the information required for public accountability.
Apportionment of Support Costs
Resources expended are shown in the Accounts categorised by charitable activity and governance costs in accordance with the requirements of the Statement of Recommended Practice. The proportion of costs unsuitable for direct attribution to these categories are immaterial (see note 5)
2 Funds
All funds of St Drostan’s Episcopal Church are unrestricted funds available for use at the Vestry’s discretion in the furtherance of the Church’s objectives. The exceptions to this being grants received specifically relating to the Church Building Repairs.
3 Clergy and Staff Costs and Emoluments
These are detailed in the Accounts - see section 7
The average number of employees during the year was 2 (2022 - 2)
Eligible employees may join the Scottish Episcopal Church Pension Fund which is a non-contributory, final salary defined benefit scheme.
The current Rector is a member of the scheme. There are no other employees currently eligible to join the scheme.
4 Trustee Remuneration, Benefits and Expenses
Except for the Rector, no member of Vestry received remuneration.
No member of the Vestry received reimbursement of expenses other than in respect of expenditure incurred on behalf of the Church.
The Rector is ‘ex officio’ a member of Vestry and a Trustee, and receives a remuneration, benefits and reimbursement of expenses in respect of services as a stipendiary cleric in line with the scales determined by the General Synod of the Scottish Episcopal Church.
5 Resources expended on Charitable Activities
Resources expended on Charitable Activities include direct and support costs. St Drostan’s has supported other Charities to a value of £8,652 (2023-£5,258)
6 Grants
Grant support has been received in the year of £39,610 (2023 - £0)
1
7 Fixed Assets InthE UPltKnoftsV.thE Lla av4uEintsACciKuAW be[tothee[5OrtsAccIN. thBrgfoTQ atct hBld15 25year3, & F1th[ SyEaw 3)5 Insur twxwsa al¢AXrtsof£s,G59.tthl2023.£G,9.o0O1 has Rar(mbIthj£($ts doThxwertthe MathetVueoftr WOFwty rpxobJe5itirthlethe¥aiwnofts ¢1$SLd Rthyat 17 RL. lntsAcCuatthB2Ol4 trf282.7T2 8 Debtor8 and Prepayments 24 2023 9 CrEditorJ 24 2023 £2,4rK) £12 £3.351 £3.920 Total E&l57 £5,120 10 Roconciliation of Movement in Funds a5 1sl(k12023 Lo550nLisW VreISed Ba50f30Sepl GWL{>S61 £55.784 otsl Unro5th(thl Fund £1.0,817 1£lJ2.6761 £0 £1.{8285 11 Analysi8 of Net ts88t8 f285.540 ChuichExknsiC f210.214 55 £242,24655 £A,940. £531.79 Fixth & Fithrg Ethnr5 £1.(W.83 InYesb)1entsatMartava £.228.61 £212.rNI £1.O4{.9j Y)6.(j £1.Q63.46434 ant £783. Barth & Cash x £32.971.20 £33.754.97 £2803D.85 £28.6B948 Ent Lirknilties CrwJK15& SundryAc<DJ {f5,75T431 £1.[8288.53 1£1.627.4 £1.01.52634 12 auota £0 IX23£01 13 Go¥emanco Costs IQZ4 2023 ¢s Fee Trer&S Fee £50 14 Future Cornmitmerrts
StDroWn's Epl¥copal ChwelL ljueh ISC01&J23) Ba Sh•gt as at30th S•plbr2024 52 212 sm 27 1•11P4 13*1 4714 $144
ST DROSTAN’S SCOTTISH EPISCOPAL CHURCH, INSCH (SC016023) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
SUMMARY
| REVENUE RECEIPTS Congregational and Voluntary 1 Special Collections (for charities etc) 2A Special Collections (for major capital projects) 2B Investment Income 3 Property Revenue 4 Sundry Income 5 Sub-total Grants Received 6 TOTAL REVENUE RECEIPTS REVENUE PAYMENTS Clergy Cost 7 Property Expenses 8 Church Expenses 9 Administrative Expenses 10 Charitable Payments 11 Other Costs 12 Depreciation 13 Sub-total Quota 14 TOTAL REVENUE PAYMENTS Loss on Sale of Property 16 REVENUE SURPLUS /(DEFICIT) Unrealised Gain / (Loss) on Revaluation of Stocks and Shares SURPLUS/(DEFICIT) FOR YEAR |
2023/24 2022/23 28,404 21,323 5,147 328 2,315 7,564 14,665 16,066 5,045 5,919 2,645 1,827 |
|---|---|
| 58,220 53,027 36,144 0 |
|
| 94,364 53,027 |
|
| 42,482 39,210 63,655 24,604 2,800 2,553 5,652 6,239 4,538 5,259 0 0 13,549 13,740 |
|
| 132,676 91,606 0 0 |
|
| 132,676 91,606 |
|
| -38,312 -38,578 55,784 -1,131 |
|
| 17,471 -39,709 |
1
ST DROSTAN’S SCOTTISH EPISCOPAL CHURCH, INSCH (SC016023) RECEIPTS FOR YEAR ENDED 30 SEPTEMBER 2024
| 2023/24 | 2022/23 | ||
|---|---|---|---|
| 1. | CONGREGATIONAL AND VOLUNTARY INCOME | ||
| a) General Collections, Open Plate etc | 4,798 | 3,355 | |
| b) Freewill Offerings, Standing Orders to Bank | 0 | 360 | |
| c) Gift Aid | 20,200 | 13,820 | |
| d) Tax reclaimed on Gift Aid | 3,356 | 3,788 | |
| e) Donations, Gift Days | 50 | 0 | |
| f) Refunds | 0 | 0 | |
| TOTAL | 28,404 | 21,323 | |
| 2A. | SPECIAL COLLECTIONS FOR CHARITIES (please specify beneficiaries) | ||
| a) Special Offerings | 5,147 | 328 | |
| TOTAL | 5,147 | 328 | |
| 2B. | SPECIAL COLLECTIONS FOR MAJOR CAPITAL PROJECTS (please see | memo note) | |
| a) Contra | 0 | 0 | |
| b) Building Repairs | 2,315 | 7,564 | |
| TOTAL | 2,315 | 7,564 | |
| 3. | INVESTMENT INCOME | ||
| a) Dividends | 0 | 0 | |
| b) Interest Received (banks etc) | 14,665 | 16,066 | |
| TOTAL | 14,665 | 16,066 | |
| 4. | PROPERTY REVENUE (Please specify source eg hall) | ||
| a) Rents Received | 0 | 0 | |
| b) Contributions Received towards Costs | 0 | 10 | |
| c) Other (Church Centre hire) | 5,045 | 5,909 | |
| TOTAL | 5,045 | 5,919 | |
| 5. | SUNDRY INCOME (Please specify source) | ||
| a) Youth Activities / Family Church | 85 | 135 | |
| b) Legacy | 0 | 0 | |
| c) Other | 236 | 210 | |
| d) Wellbeing Cafe | 2,324 | 1,482 | |
| TOTAL | 2,645 | 1,827 | |
| 6. | GRANTS RECEIVED (Please specify source and purpose) | ||
| a) Other | 36,144 | 0 | |
| TOTAL | 36,144 | 0 |
2
ST DROSTAN’S SCOTTISH EPISCOPAL CHURCH, INSCH (SC016023) PAYMENTS FOR YEAR ENDED 30 SEPTEMBER 2024
| 7 CLERGY COST a) Stipend - gross b) National Insurance - employers contribution c) Pension contribution d) Council Tax e) Locum fees and expenses f) Travel/mileage allowance g) Other - Conferences & Adult Learning h) Other - Telephone I) Other - Books Sub total Less: Linked Charge Contributions Less: Government Employers' Allowance Total Net 8 PROPERTY EXPENSES a1) Insurance Church a3) Rectory b) Routine repairs and renewals: Church c) Rectory e) Heat and light g) Cleaner and cleaning materials h) Gardner i) Equipment servicing Total |
2023/24 2022/23 32,691 30,135 3,256 2,923 10,430 9,607 3,030 2,942 0 -33 1,036 672 171 275 65 99 32 114 |
|---|---|
| 50,712 46,734 -4,973 -4,601 -3,256 -2,923 |
|
| 42,482 39,210 |
|
| 1,671 1,585 107.6 362 53,498 13,566 0 453 5,208 5,228 2,522 2,151 648 1,260 |
|
| 63,655 24,604 |
| 9 CHURCH EXPENSES a) Organist b) Organ maintenance c) Music and choir d) Youth Activities / Family Church e) Altar expenses f) Alpha expenses g) Wellbeing Cafe g) Miscellaneous Total |
0 0 0 0 468 362 662 847 125 28 0 0 34 12 1,510 1,304 |
|---|---|
| 2,800 2,553 |
3
ST DROSTAN’S SCOTTISH EPISCOPAL CHURCH, INSCH (SC016023) PAYMENTS FOR YEAR ENDED 30 SEPTEMBER 2024
| 2023/24 | 2022/23 | ||
|---|---|---|---|
| 10 | ADMINISTRATIVE EXPENSES | ||
| a) Secretarial costs | 0 | 0 | |
| b) Printing and stationery | 588 | 1,248 | |
| c) Telephone and postages | 389 | 287 | |
| e) Books / Magazines | |||
| f) Other - Computer | 0 | 0 | |
| g) Other - Governance Costs | 0 | 50 | |
| h) Legal Costs | 0 | 0 | |
| i) Investment Management Costs | 4,675 | 4,655 | |
| Total | 5,652 | 6,239 | |
| 11 | CHARITABLE PAYMENTS (See Section 2. Please specify beneficiaries.) | ||
| a) Via Tithing account | 4,391 | 4,931 | |
| b) Misc - Charitable payments Special Collections | 147 | 328 | |
| c) Misc - Discretionary payments | 0 | 0 | |
| Total | 4,538 | 5,259 | |
| 12 | OTHER COSTS | ||
| a) Bank charges | 0 | 0 | |
| 13 | DEPRECIATION | ||
| a) Depreciation - Church Extension | 11,016 | 11,016 | |
| b) Depreciation - Fixture & Fittings | 2,364 | 2,364 | |
| c) Depreciation - Electronics | 169 | 360 | |
| Total | 13,549 | 13,740 | |
| 14 | QUOTA | 0 | 0 |
4