2025-08-31-accounts - St Laurence Episcopal Church: Laurencekirk

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

SCOTTISH EPISCOPAL CHURCH, DIOCESE OF BRECHIN

‘

SAINT LAURENCE EPISCOPAL CHURCH, LAURENCEKIRK also known as SAINT LAURENCE'S CHURCH, LAURENCEKIRK

SCOTTISH CHARITY NUMBER: SC016285

ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 314 AUGUST 2025

PRINCIPAL OFFICE:

clo Beattie Lodge, Laurencekirk, Kincardineshire, AB30 1HJ.

CHARITY TRUSTEES (Members of the Vestry)

The Rev'd M.J.R. Turner Recior and Chairman Mrs H. Sanderson Lay Representative Mrs M. Constantine Alternate Lay Representative Mr N. Constantine Treasurer Mrs S. Cartwright Mrs M. Smith Mrs H. Sanderson Mr R. Murray

INDEPENDENT EXAMINER:

Mr W.G. Cunningham (retired bank employes) 2 Burnside Cottages, Fettercairn, Laurencekirk, Kincardineshire, AB30 1XY.

BANKERS:

Royal Bank of Scotland Arbroath (C) Branch Brothock Bridge Arbroath DD11 1NP

CHURCH ADDRESS:

High Street, Laurencekirk, Kincardineshire, AB30 1BH,

Page 1 of 6

REPORT OF THE VESTRY

The members of the Vestry present their annua! report together with the financial statements for the year ended 31 August 2025

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 congregation as follows:

St Laurence Episcopal Church Laurencekirk is a registered Scottish Charity (SC016285)
It is a member of the Diocese of Brechin within the Scottish Episcopal Church and is in full communion with the Churches of the Anglican Communion.
The superior authority is the Bishop of Brechin. 4. All of its affairs are governed by the Vestry.
The present constitution is dated 1 May 2011 and is available for inspection.

APPOINTMENT OF VESTRY MEMBERS: Vestry members are elected by the Annual! General Meeting as established by the constitution and under Canon Law of the Scottish Episcopal Church.

ADMINISTRATIVE STRUCTURE:

The Vestry manages the temporai affairs of the congregation with responsibility to keep the fabric and property of the church in good order and to look after the finances of the church. It keeps under review the major risks to which the church is exposed and has established procedures to mitigate the risks identified.

OBJECTIVES AND ACTIVITIES:

The church's principal purposes are ta provide a place for Christian worship available to the whole community and to respond to people's needs if a caring fashion. To that end, as. is expressed in its mission statement, public services of prayer and sacrament are held, Christian education is undertaken, the church building is open to visitors during daylight nours, the elderly are visited, contacts are advertised for those seeking help and funds are raised for charitable work locailly and further afield.

ACHIEVEMENTS AND PERFORMANCE:

All the activities listed above have been carried out during the past twelve months and the whole community has been able to participate. “

FINANCIAL REVIEW:

{t is gratifying that the accounts for this year show a smail profit despite the fact that congregational giving, including what was Gift Aided, was significantly lower due to diminishing numbers in ihe congregation. This amount was more than compensated for by the increase in returns from invested capital. However, the expenditure for the year was approximately £2,000 less than in the previous year as the contribution to the Joint Stipend Fund was reduced by £1,200 and the Scottish & Southern Electricity Board had not sent an accouni for the last eight months of the financial year,

RESERVES:

The Vestry has adopted a policy of endeavouring to maintain a level of unrestricted reserves sufficient to be able to carry on the current activities for a reasonable period in the event of a significant reduction in income. It has also adopted a policy of investing all legacies in appropriate capital funds.

On behalf of the Vestry

(Signed)

Rector

8 October 2025

Page 2 of 6

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS TO THE VESTRY OF ST LAURENCE EPISCOPAL CHURCH, LAURENCEKIRK FOR THE YEAR ENDED 31 AUGUST 2025

a). “6

| report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages4 to 6.

Respective responsibilities of Managers and examiner

The Managers are responsible for the preparration of the accounts in accordance with the terms of the Charities and Trustee investment (Scotland) Act 2005 and Charities Accounts (Scotland) Regulations 2006.

The Managers consider that the audit requirement of Regulaion 19(1)(d) 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 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. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. lt also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees conceming such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequenily | do not express an audit opinion on the accounts.

independent examiner's statement

In the course of my examination, nqoatterhas cometo myatisation:

Jawhich gives me reasonable cause to believe thai in any material respect the requirements:

to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and .
to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations

have not been met, or

Pio which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounis to be reached.

2, Burnside Cottages, Fettercairn, Laurencekirk, AB30Kincardineshire, 1XY. } | ve / Loi 25%

Page 30fS

: : ‘

SCOTTISH EPISCOPAL CHURCH, DIOCESE OF BRECHIN

SAINT LAURENCE EPISCOPAL CHURCH, LAURENCEKIRK

RECEIPTS AND PAYMENTS ACCOUNT 1 SEPTEMBER 2024 - 31 AUGUST 2025

==> picture [442 x 240] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2023/24| |Note|Unrestricted|Designated|Endowment|Total|£| |INCOME|£|gE|£|£| |Congregational &|Voluntary|2|2,870.00|0.00|0.00|2,870.00|3,390.00| |Investment|a|5,124.06|0.00|0.00|5,124.06|4,507.30| |Legacy|4|0.00|0.00|0.00|0.00|0.00| |Seeeeeee| |.|7,994.06|0.00|0.00|7,994.06|7,897.30| |EXPENDITURE| |Clergy Cost|5|3,000,00|0.00|0,00|3,000.00|4,200.00| |Property Expenses|6|3,411.16|0.00|0.00|3,411.16|4,241.21| |Administrative|Expenses|7|0,00|0.00|0.00|0.00|0.00| |Quota|9|1,165.00|0.00|0.00|4,165.00|1,128.00| |jsSeen,|a| |7,576.16|0.00|£0.00|7,576.16|9,569.27| |——————————Ee| |SURPLUS FOR YEAR|(DEFICIT)|£417.90|£0.00|£0.00|£417.90|-£1,671.91|

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

==> picture [440 x 249] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |STATEMENT OF BALANCES|-|3ist AUGUST 2025|2023/24| |Note|Unrestricted|Designated|Endowment|Total| |£|2|£|£|£| |CASH| |Bank|Balance|at 31st August 2024|10|8,357.01|4,223.41|0.00|12,580.42|14,252.33| |Surplus|/|Deficit for year|417.90|0.00|0.00|417.90|-1,671.91| |Transfers between|funds|0.00|0.00|0.00|0.00|0.00| |Total|cash|funds|at 31st August 2025|8,774.91|4,223.41|0.00|12,998.32|12,580.42| |INVESTMENTS| |Market|value|at 31st August 2024|11|124,295.44|0.00|0.00|124,295.44|107,337.24| |Additions|0.00|0.00|0.00|0.00|0.00| |Disposals|6.00|0,00|0.00|0.00|0.00| |Unrealised|gain|/ loss|in year|8,123.44|0.00|0.00|8.123.44|16,958.03| |Market value|at 31|August 2025|132,418.88|0.00|0.00|132,418.88|724,295.27| |FUND|BALANCES| |As|at 31|August 2024|Cash|8,357.01|4,223.41|0.00|12,580.42|14,252.33| |investments|124,295.44|0.00|0.00|124,295.44|107,337.24| |Cash|surplus|/|Deficit for year|417.90|0.00|0.00|417.90|-1,671.91| |investment additions|/ disposals|0.00|0.00|0.00|0.00|0.00| |Investments’|unrealised|gain|/|loss|8,123.44|0.00|0,00|8,123.44|16,958.03| |Transfers|between funds|0.00|0.00|0.00|0.00|0.00| |As|at 31|August 2025|141,193.79|4,223.41|0.00|145,417.20|136,875.69|

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

YlYh[Mh][iat] Treasurer2£ JCPicp 202 € (Signed) Rector

==> picture [32 x 20] intentionally omitted <==

----- Start of picture text -----
(Signed)
q
----- End of picture text -----

Page 4 of 6

SCOTTISH EPISCOPAL CHURCH, DIOCESE OF BRECHIN SAINT LAURENCE EPISCOPAL CHURCH, LAURENCEKIRK

NOTES ON ACCOUNTS 31 AUGUST 2025

i. ACCOUNTING POLICIES

(a) Investments held beneficially are stated at cost.

(b) The accounts are prepared on a Receipts and Payments basis, therefore do not include provision of income due but not received or expenditure liabie but not paid at the year end.

(c) Unrestricted funds are divided into genera! and designated funds, use of the latter being governed by the conditions imposed by the donor or related trust, :

Unrestricted Funds are: Current Account, Church Pewter & Mini Market Fund, Altar Painting Fund, Legacies Fund and Threadneedle Strategic Bond. . Designated Funds are: Fabric Fund and Taylor Grave Upkeep.

			2024/2025 £	2023/2024 =
2.	CONGREGATIONAL AND VOLUNTARY INCOME
		Collections	526.30	884.40
		GiftAid (net)	1,973.70	2,385.60
		Income Tax recovered	0.00	0,00
		’ Fundraising	0.00	0.00
		Donaticns	370.00	120.00
			2,870.00	3,390.00
3.	INVESTMENT
		409 unitsSEC UTP48L003, Church Pewter& MiniMarket 1062 unitsSEC UTP48L004, Altar Painting	404.91 1,051.38	355.83 923.94
		3622 unitsSEC UTP 48L018, Legacies	3,585.78	_ 3,151.14
		Nationwide Building Society interest, Fabric Fund	0.00	0.00
		interest, Nationwide Building Society General! account	0.00	0.00
		Threadneedie Invesiments - StrategicBond	81.99	76.39
			5,124.06	4,507.30
4,	LEGACY		;
		For upkeep ofTaylorgrave No. 51	0.00	0.00
			9.00	0.00
5.	CLERGY	COST
		Transiers to Joint Stipend Account	3,000.00	4,200.00
			3,000.00	4,200.00
6.	PROPERTY EXPENSES
		Heating & Lighting	614.34	1,497.13
		Church insurance	2,796.82	2,744.08
			3,411.16	4,241.21
7,	ADMINISTRATIVE EXPENSES
		Fund raising expenses	0.00	0.00
			0.00	0.00
8.	QUOTA
		Provincial and Diocesan Quota	1,165.00	1,128.00
			1,165.00	1,128.00
9a.	CURRENTASSETS (unrestricted funds) at 31 August2025
		CurrentAccount	8.774.941	8,357.01
			8,774.91	8,357.01

Page 5 of 6

9b, CURRENT ASSETS (designated funds) at 31 August 2025 Current Account - Fabric Fund 3,556.47 3,556.47 Current Account - Upkeep of Taylor grave 666.94 666.94

10. INVESTMENTS

10. INVESTMENTS
	Book Value		Market	Value	Unrealised Gain / Loss on year
a) Beneficial ownership	2025	2024	2025	2024	2025		2024
Church Pewter & Mini Market
409 units SEC UTP 48L003	2,000.00	2,000.00	12,961.50	12,309.39	652.11		1,138.82
Altar Painting 1062 unitsSEC UTP48L004	6,000.00	6,000.00	33,655.52	31,962.27	1,693.25		5,657.80
Legacies 3622 unitsSEC UTP 48L018	65,880.00	65,880.00	114,783.72	109,008.80	5,774.92		10,085.70
4515.33Threadneedle Strategic Bond	2,202.67	2,202.67	1,927.14	1,923.98	3.16		76.31
Totals	a 76,082.67 76,082.67		_163,327.88	eee es 155,204.44 8123.44			eee 16,958.03
b) Statementofinvestmentgains				BookValue _MarketValue		Unrealised Gain
Church Pewter& Mini Market Fund				2,000.00	12,961.50		10,961.50
_ AltarPainting Fund Legacies Threadneedle Investments	- Strategic Bond			6,000.00 65,880.00 4,565.40	33,655.52 114,783.72 1,927.14		27,655.52 48,903.72 -2,638.26
				78,445.40	163,327.88		84,882.48

Page 6 of 6