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 D*1 Y•r Yoar Ir•r(•rt•r p• R•8p•GtIv• The ch￿$ t￿¥1*8¥ atg rgswnwblg for the preparation of the accounts in accordartè rowon81bll￿0 ol Y￿th the t8Th8 01 the chan1￿8 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• aCc￿nIS gs roquir8d under s•cb'on 44(1) Icl of Ihe Ad to *8t• vknelher p￿￿￿18r rn8tkns ha¥? come to my atrt8nts)n. 8h ol Indep•ndgrt My •xamination i¥ c*ri•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 C￿7mPan$0n ol th8 wjunts pr88enled with Ihose records. 11 also in¢lud8S Gon¥idèr8lKJn of any unusual it8m8 cf d18cbsure8 in the accounts and so&k8 explanation8 trom th¢ tru&èe8 COr￿Mir￿ ￿Y sucth mafters. The procedures urnlertaken do not prowlle al the evtdfjr￿ lhat te roquir&J In aft audit and, oysequently, I do not express an au¢Jit qM"ruon on the given by th? aGGounl8. kndep•nd•rt oxamln•e• In the ¢ours• of my •xanIna￿tsn, no mthr has to my attMlk*n •tat•m•nt whith 9rve8 m• r•asor•bl• t•li•vJ tr￿t in •ny matgri•l rnspgd th• requirem8r￿. to keep ac￿nting records in a¢¢ord*¢o vith sedion 44111 {al d the 2005 Act and Regulabon 4 of the 2C(6 AccDunts R•3ulptirTh, and to prepare ac*J)unts whid) acc(Jf(J ￿unknnq reo)rds and ojnply witt) Regulabon 9 91 tho 2C(fj Aco>unt$ Regu19Um8 have not been mel Slgfted: N*m•'. Rél•vint profO￿lOnal 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 av4uEintsACciK￿uAW*￿ be[￿￿￿tothe￿e[5OrtsAccIN￿. thBrgfoTQ atc￿t h￿B￿ld1￿5 25year3, & F1th[￿ SyEaw 3)￿5 Insur￿ twxwsa a￿l¢AX*￿rtsof£s,G59.tthl2023.£G,￿9.o0O1 has R￿a￿r(m￿b￿Ith￿j£($ts doThxw*ertthe MathetV*ueoftr* WOFwty rpxobJe5itirthlethe¥aiwnofts ￿￿¢￿1$S￿L￿d Rthyat 17 RL￿. lntsAcCu￿atthB2Ol4 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 Vr￿e￿ISed B*￿a50f30￿Sepl GW￿L{>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& SundryAcCongregational 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