Chadty reglstration nurnr SC016813 IS¢otlandl DIOCESE OF BRECHIN ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
DIOCESE OF BRECHIN LEGAL AND ADMINISTRATIVE INFORMATION Dloe•san Counejl Th8 Blshop. Thg Right R8vd.Andrew Swft Th8 D8an. Thg Very Rgvd. Kenneth Gibson Or. Jaap Jacobs- Diocesan Sectary (Resignwj 13 Aprsl 20261 Mr Bob Main- Disan Treasurer The Very Revd. Roxannè Chmpb811 The Revd. Canon Mary Jepp Thè Revd. Mark-Aartsn Tisda Thè Rèvd. Pgte Mead The Revd. Lynn Davidson Mr Geoffrey Bell Professor Susie Schofield Professor Peter Sharp OBE Mr Eolyard Stansfeld Mrs Judy Struth Ms Alison Taylor IRe8igned 30 November 225) (Elected 1 March 20251 (Elected 7 March 20261 (Resigned 13 January 20261 (Resigned 7 March 20261 (Resignèd 1 March 2025} IEl8ct8d 1 March 20251 (Elected 7 March 20261 Charlty number (Scotlandl SC016813 Prlnclpal addr$ rJo Bishop's House 5 Ballumbi8 VI9W Dundee DD4 ONQ Audltor bk plusAudf( Limited 144 Nathgrgat9 Dundee DD14EB Bank•rs Bank of Scotland plo 6&69 Murr8ygato Dunde8 S(x)I8nd DD12EA Solleltors Lindsays LLP 10 Blackfriars Street Perth PH1 SNS
DIOCESE OF BRECHIN CONTENTS Pa Dloc&san Council's rèport Ststerngnt of Dlocesan Councll's rnswnslbilitie8 Independ6nt aU¢JIto$ rèport statement of financial actiwtl88 10- 11 Balance sheet 12 Notès tr) thg finanrAal statements 13-30
DIOCESE OF BRECHIN DIOCESAN COUNCIL'S REPORT FOR THE YEAR ENDED 30 NOVEMBER 2025 Th6 Dlcwan Coun¢ll prasant thelr roport and financi81 stst&m&nts for th& y08r endgd 30 Novembar 2025. For the purpr)so8 of S¢otti$h Charity Law. Ihe members of the Dscwan Council are charitable trustees of the Charity. The financial statements have been prepared in accordance wth the accounting polici85 S8t out in note 1 to the nancial statgrn8nt8 and comply with the charitys constilutyon. the Chariti&s and Truste& Invostmont Iseotlandl Act 2005, the Charfties Accounts (Scollandl Regulations 2(X)6 la5 8rn8nd8dl ond "Accounting ar>d Reporting by Charities.. Statement of RernMended Pract applicable to charities preparing their accounts in #cttordan(x with the Financial Reports St8nd8rd applicable in the UK and Republi¢ of Ireland IFRS 1021. leffectlve 1 January 20191. Oble¢tlve$ and acuvltles The Diocese exists to support and promote th8 mTrssion and ministy of th8 Scotlish Episcopal Church across the historic Dioc8se of Brechin, covering the City ol Dundee, the Carse of Gowrfg, most of Angus, th8 Mearns and southém Ab8rd88nshirg. It does this by providing spiritual, admlnistrative and flnanclal support to Charges acrosg th6 Diocese, administarlng Provlnclal grants, bncour8ging migsion activity and developing training for ordained and Tay leaders. To support these alms the dlocesan strategy, Introducod In 2023, focusès on th8 foltowng 8rg88'. Hèalthy Churchas: Dloc&san SLtpport for Charges to carry out l(Kal tllission and ministry, including financial and practtcal sUPPOrt for ordained leadership and the delopMnt of flourfshing and sust8in8blo patterns of ministry. Healthy Envlronment.. Diocesan support for the Scottish Episcopal Church's naJonal work towards achieving n8t Z8ro carbon by 2030. Hgalthy Leadors: Diocesan support for cffdained and lay leaders, with an emphasfs on vocation, tralning and wellbeing. Achlevements and performance During the period from December 2024 to Novembor 2025. thè Diocas8n Council ovérsaw the DK)c8se'3 work in mi8sion & rninistry, finance. propety and goverr*ance. Its principal objective was to support Charges across th& reglon, primarily Ihrough financial support for ministy and by rèsourciThJ thè Bishop's Dioc8san ministry. The Council also managed dtocesan administration. including grants and funds, commun11sonS. thè thraaY US- African-scotbsh Anglican Comrnunion compafiionship link, and Diocesan properties. During the year, the Diocesan Counal reviewed and updated the Diocesan constitution. The prevlous revlslon was ade in March 2020, Wth an 8xp8Ctation of r8view 8V9ry fiv8 y8ars. L9d by th8 Diocesan Secretary. the 2025 review resulted in minor amendments, which were approved by Diocesan Synod in October 2025. Oth•r Olo¢•san bodl•s. The Diocesan Bulldings Committee eontinued to meot both virtually and in person to consider applications for atterations to church buildings under Canon 35. This stalutory work was cwhaired by the Dean and the Diocesan Secrotary. The Provincial Net Zgro Team also supported the Dioceses progress towards the Scottlsh Episcopal Church s not zero by 2030 commitment. A m&mber ofth6 Net Z&ro Tèam jthnèd Buildings Comrnitlg8 and acted as 8 dired wntsct for Diocgs8n work, while Vi$t$ and initiatNgs continued throughout the yeaf. including 8 N8t Z8ro Roadshow 8t st P8ul's Cath8dr81. Durxle8. inAugust 2025.
DIOCESE OF BRECHIN DIOCESAN COUNCIL'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Over the past yèar, the Bi8hop again undertook a programme of vi5it8tions aixo&8 the Diocese, esp&aalty at maln acts of Sunday worship. Thè Bishop visilgd almost every Charge during th& year. Th8 Bishop and other Diocesan officers also mgt and worked with several Vestri85 on vision, planning and local ministry prforities in their communiti&s. Finaneial support to Charges, framed withln th8 'H8aAhy Churches, priority. remalnad 8 major area ol Diocesan activity, Support for stipendi8ry ministry Ixjntinued to bè a kay Commitrent. During the year. a cleric was appointed 95 Transitional Ministry Prfest-iTrCharg8 for two church wmmunities in wast Dundeg, with Diocesan fun(Jing supporting the post. A Diocesan property was also purthased to support thls ministry. The Diocese also began providing temporary 'bridging' financial support to Charges facing short-terrn operational diffieults"¢s, for 8X8mple wh8r8 8 vacancy in the treasurar ro18 affec kxal financia managamgnt. This 8UPPOrt is intended to sustain 8 Charg6 until it can finawially operate fully again. Asurnmary of DICBan financkal support for ministy during the year Is sèt out b810w: Support for ongoing ministy at St Ninian's, Dundge. During the year, its part-tlma priest sewl solely that Charge. Support and oversight for St Luka's, Dundee, and the Dund6e Cèntr8 of Mi88ion, a partneiship betW66n th& Diocesa of Brethin and Church Amiy prowding 8wal action and fresh oxprossion8 of church in Dundoe City. Support for ongoing ministry at St Mary's, Arbroath. and St Peter's. Auchrnithig. Support for ongoing ministry at Holy R(K)d. Carnoustie, and Holy Trinity, Monifrelh. Support for ongoing Tninisty in Stonehavon and Muchalls until D8cembef 2025. wh8n that priest moved to 8 Hou8e-for-Duty ministy. Support for a new trans6tion81 mini8try for All Souls.. Invargowrig. and St MargaTefs. L, frcffn Novembor 2025. Employment ofa part-time Dioc8s8n Children and Youth Officar on an ongoing permanent bèsis. Financi81 bridging support was also provided during the year for St Mary's, BToughty Fery, and thg Laurencekitl( Group tsf Charges. Support for these ministries 18 funded thr(Ktgh 8 combination of pn81 Mini8ty and Misslon spOrt Gr8r IMMSG}, appropriately mstrict8d funds, unrestrictod Di(xwan ino)me, aThJ dgna missi¢)n and minlsty fvnds, as outlined in sectrn 24 01 the notes to the accounts. Under th8 'H8atthy Environmenf priorty. the Diocese ntinUad to work with the Prowncial Net Zwo Team towards the Scottish Episeopal chuh,$ target of nat Zgro by 2030. This iem8in8 a significant pracb.eal 8nd financial cha118nge given the agè and wndition of much of the Diocesan prop6rty estale. Oufing the year, a pVinCiallY funded 'Pione8r' project support8d the instsllation of soJ8r panels and electric haating at St Nin1's, Dundeè, 8nd work also started on 8 pilot project at St T¢man'8. Muchalls. Now on hold. Under Ihe'Healthy L88d8rs' priorbty, the Dioc889 Continued to support ordained and1ay l&ader5 in their mission on¢J ministry, ¥th Partular emphasis on vocation, training and wellbeing. Financlal 8SSiStance was also mad& availgble to enable clergy to tak8 part in programma8 8nd events that supptsrt P8rsonal lIbeIng. Th8 DK)¢ese also eontSnued to strengthen communication across the region. The Bishop and his PA maintaln6d 8 weekly bulletin carying n$. gvgnts, resourc05 other updates. During the year. a nèw and rnore flexible DSoees8n web3ite was comrnissioned and brought into use.
DIOCESE OF BRECHIN DIOCESAN COUNCIL'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEAIBER 2025 Financlal revlew The Diocese's financial posttson Is set out In the accompanying financial statèmènts. Including net gains on investments. the gefwal fund T8rded a net ino)me defic4t of £11.794 for the year befor6 fund transf8r5. Whilst 8 deficlt bu¢Yget of £4,690 had b88n approv8d by both Diocesan Synod and Diocesan Coundl, ongoing legal costs Incurred In complying th8 Scottish Govemments Register of Controlled Interests in Land 16glslation togother with T1Ue Deed work on a Church property thin tha Dlocass. contribthad in part to the increased dgficjt amount at th8 y8ar end. D88ign8t9d fundg refflected a major transler from the Itwergowrfe Houslng Fund Fnto propèrty following the PUTchase ol a dergy htsusa in Dunde8 for the Invgrgowrie and Lochee post, which Is reported as an unrestrict8d 8S591 in the balance sheet. The year also saw the recognition of a donation of £335,607 from St Margaret's Home. Dundee, following the winding up of that ¢harity. The Diocesan Councll d&signated knesè funds tts th8 St Margaret's Ministry Fund to support futura mink%try and mi38ion 1th1n the Diocese. Restricted funds s*)tsw6d a gnIficant surplus following Ihe transfer of the assets of the Lusctsmb8 B8ll8f8Ction charity into Diocesan eontrol durinu th8 y8ar. Across all funds. values increased as a result ol modest growth in tha SEC Unit Trust Pool. Reserves Snereased in vÈlub during th8 year d8spI(8 thg of designated r&8erves. SLlPPOrted by ffih in thè DioTrse's UTP holdings. Unit pri8 in the UTP followed a generally positlve trend, rfslng from £32.1454 at th8 8fKI of November 2024 to £32.9354 at the and ol Nov6rTrber 2025. This also supported an increase in distribjtion rates and therefo highe¥ itKome for th& Di(tss•. As with most parts of the scotts.sh Eplscopal Church. the Dioc8$8 romains 9XPOS8d to some volatility in gbbal markets linked lo geopolitical events. Updated financial management reports on unresblcted and d•signèt8d oxp8ndknr8 8gainst budget are prgsented al each meeting of the Diocesan Counril. This close oversight helps identlfy any areas wh8rè spanding is moving away from plan and allows èarty action n89ded. In parbcu5ar, the use ol designated reserves b support ministry is subject to careful scruts'ny. Rèsèrvès pollcy The Diocese's reserves increased during the year, flectIng grovAh in the value of its UTP holdir¥J8 and th8 r8C81Pt of the assèts of th8 Lus(x)rnbe Ben8faction Fund. Th8 Dioces8n Counril considers that the level of unrestricted reserves not designated for specmc purpos6s remaSns suffict6nt to support th8 Dioc8S8'8 current athv((s for a reason8b18 P8ri0d. The Counal's pollry Is to maSntaln thls posmon. It may also us6 reseN8s prudantly, Induding C8sh 8Ad invèstments. to support mission and ministry PFOj8Cts, providgd that project.. be lor a fixed period of tim8', have measurable outcornes- b6 SUPKKJrted financially by local charg8s as w611 as thè Di0¢6S6', be outlined in a written agreement which is communicated to Diocesan Synod and followed vp by annu progress reports,. Itwestment pollcy The Diocese's investment powers are govemed by the framework of SEC Canon Law {SEC Digest of Resdutions Item 7.1.41. Its polScy Is to adopt a medlum-risk strattrgy thAt saeks a balanced return from inc0rn8 and capital ov8r th8 mgdlum term.
DIOCESE OF BRECHIN DIOCESAN COUNCIL'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Plans for firturè p&fiod8 The Dloe6sè's main prEorty for the year ahead is to continue supporting congr8gations in mi86ion and ministry as they respond to oIg pressures fau'ng churth lrfe. Continuing increases in the cost ol livlng remain a ch811gnge for 8 number of churches. Supporting the Bishop and other DI(sn officors in their ministry will remain a key prlorlty in both govemance and funding. In common wrth all Scottlsh Episcop81 Church bishops, the Bishop also gives &gniftcant timè to Provin81 structures and actlvltlès 8S Part of the mutual support b&hveen dlocesos and th8 wider Church. Whlle thè Diocg88n strategy of 'Healthy Church6s'. 'Héathy EnVIrMenr and 'Heallhy Leaders, wlll eontinu8 to guide internal actlvty, thè rnost significant issue in the comlng y&ar will be th8 futur8 structure of mission and tninisty acms5 the Diocese. Thls work wll consider not only the level ol financ5al support r8quir8d, but also the most sustBinabl$ p8ttems of c18rgy deployment. Work wntinues lo support a numb8r of varancigs wthin Dundee Cty and in th& Latsrèn(kirk area. The Diocesan Council has alf68dy considered several draft papers satting out possible models of mlnistry. Aknngsidè prtigI considerations, this work requires s8n&Vity to the needs ol indlviduals and congregations. The preferred outcomè remains th6 8UPtx)rt of stipendiary crgY to lèAd S(x)ttish Episcopal church&s across thè Di0¢980 of Brechin. structure, govemanc• and managernent The DI0Se is ona of s8v8n dioceses within th& Scottish Ept8o7pal Church and is govemed by tho Church's Canon8. Within the powers and limrtations 89t by those Canons, th¢ Dioc8s8n Synod is the principal goveming body of th8 Di(Ke8e. Under the constituts.on of the Dioc888n Synod. adopted In October 2025. the Di(S0 has up to twtrlve charity trustees.. the B*5hop, the Dean, the Di0san Secretary, thg Diocesan Tieasurèr, atKI up to four dergy and four lay members elected by Di088n Synod. As the board of tNstge8, the Diocesan Council over8ees the strategic direction ond life of the Dlxese on behalf ol Diocg8an Synod in mattèrs of mission and rninlstry, financè, property, and matters referred from the General Synod. The Dlocesan Buildings Committee rèports to the DicKesan Council and operates under Canon 35 in r618tion lo consent for altwations to church buildings. The Dlocesan Prop8ty Trustees who sew8d from 1st December 2024 tr) 30th November 2025 were.. Thé Bishop, The Right Revd. Andr8w Svit( Thé Chancellor, Sheriff George Way ol Plean Th• R8gistrar. Mr John G Tho Th6 D&8n, The Very Rev¢J. Kenneth Gibson Tha Bishop is elected by tha ellgible clergy and lay representatives of th& Dioe089 in accordance ¥th Canon 4 of the Canons of the S¢xJttish Episcopal Church. The Dean hol¢Js officg under Canon 43. Tha Ch8ncellor is appointed by thè Bi8hop under Canon 61, Re3olulon 4, arhd th9 Rggislrar under Canon 61, Resdution 5.
DIOCESE OF BRECHIN DIOCESAN COUNCIL'S REPORT ICONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 ver th& Dlocesan Con$ttiOn, the charlty trustees are the memb&rs of the Diocesan Council. The charity Irustses 89rving from 1 December 2024 to 30 Novemb8r 2025 wérè.. Exvofflclo trustses The Bishop. The RKJht Revd Andrew Swift Th8 Dg8n, Thg Vory Revd Kenn8th Gibson Dioe6san Sacr8t8ry, Dr Jaap Jacobs Diocesan Treasurer, Mr Bob Main El•et4d elargy r•près•ntatlv•s The Very Revd. Roxanne Campb811 Thè R8vd Canon Mary Jepp Iresignod tsn 30 Novambar 2025 on r&tlremantl The Revd Pete Mead lelected on 1 March 20251 Thè R8vd. M8Tk-Aaron T15dal Electod lay ropre8entstlvos Mr Getsffrtry Bell Professor Susie Schofield Profassor Patar Sharp 08E Mr Edward Stansfeld (term ofolfice ended on 1 March 20251 Mrs Judy Stnth (elected on 1 March 20251 The Bishop hos salved since August 2018 an¢J is elected by eligible clergy and lay preSentativeS in accordance with C8non 4 of thg C8non$ of th8 Scottish Eplscopal Church. Thè Dean has sarved slnce August 2023 and Is 8PPOinte(I by the Bishop under Canon 43. The DI0$an Secretary and Diocesan Treasurer are appointed annually by the Diocesan Synod. Clergy and lay represent8bvgs on the Dioo958n Couniil are 8lect8d by Di(Kgw Synod ft)r thr8e-yeaT terrns, r8n8wab18 onc&. in aceord8ncè with th6 Constrbjtion of the Diocese of Breehin. The Diocesan Councils report was approved by the Dioc88an Council. Th8 Bishop, Tha RvJht Rgvd. Andr&w Swfft DI05#n Council I.I...AMS..2u.Z.6...
DIOCESE OF BRECHIN STATEMENT OF DIOCESAN COUNCIL'S RESPONSIBIUTIES FOR THE YEAR ENDED 30 NOVEMBER 2025 The Dlocesan Council 8rg responsible f prèparing the Di(Thsan Councivs Reprh1 And the finarncpl statements in accordanc th applic8bl8 18w and United Klngdom AcL¥wnting Stsndar(Is IUnit&J Kfngdom G8n8r8lly AePtsd Accounting Praoticel. The law applica8 to eh8rlti8s in Scotland requlr6s tha Dloewn Council to prepare financial strngnts for each financial year which give a true and fair vigw of the state of affairs of thè ch8rity and of the incoming resour 8fKI applicatlon of rasour¢es of the charity for that y88r. In pparing these financial statements, thg DKJcesan Council are rèquirÈd to.. select sultable accounting pdicies atKI then apply them consistentty.. - obsérve the methods and PTinciples in the Charities SORP.. - make judgements 8nd estimates that arè roa50nable and prudent., - state whether appllcable accounting standar¢Js havè b8èn foslowed, subject to any m8tsri8l departures disclos1 and explain8d in Ihe financlal st8tèm8nts,' and prepare the financial statements on thè going tr)ncem basis unless it is inappropriate to presutro that tha ¢harity will wntinue in op&raYon. The Diocèsan Counial are responsibl& for keeping sulftcient aecokknting records that disdosè with reasonable a(Luracy at any tim6 th8 ffnancial position of th8 charity and enable tM to ertsure that the financial st8tèTnents comply with th8 Charitles and Trustsg Investment Iseouandl Act 2005, the Charitiès Acwunts Iscotlandl Regulations 2(X)6 and the provisions of the trust deed. They arè also responsible for safeguÈrding the assets of the charity and hence for t&king reasonable steps forthe prevention and detection of fraud and other irregul8rthe8.
DIOCESE OF BRECHIN INDEPENDENT AUDITOR'S REPORT TO THE DIOCESAN COUNCIL OF DIOCESE OF BRECHIN Oplnlon We have audited Ihe flnanclal ststements of DI0se of Brechln lthe'charlty'l for the year ended 30 Novomb6r 2025 which eornpris8 the ststerngnt of fin8nci81 adiwti88. the balance she8t and notes to the financial statements, In¢ludlng $Sgnlficant accounting poTici0g. Tha finÈndal rsporting framèwork that has be8n appli8d in their pr8P8ration 15 8pplic8ble law and United Kj'ngdorn AGntirj Standards. induding Financial Reporting Standard 102 Thg Financial Reporting St8ndBrd appllc8bla In Iha UK and R8publlc of ltsland IUAitd Kingdom Generally Accepted Accounting Practice). In our opinlon, the flnancial statements.. give a true and fair view of thè stat• tsf thè tharty's affairs as al 30 Novernber 2025 and ol ils ino)ming r8sourc88 and application of resources. for the year then 8nded', havg been propedy pPared in accordance with Unlte¢J Kingdom Generally Acceptod AceountirYJ Practi,. and have been prepared in accordancè with thè Charitigs and Trustee Investment IScoUandl Act 2005 and regulation 8 of the Charities Accounts Iscottatvj) Regulations 2(106. Basls for oplnlon Wè conduct8d our audit in accordance with International Standards on Auditing IUKI IISAS IUKII 8nd applicab19 w. Our responsit)illties under those stan¢Jards are lurther described in the Auditors responsibiliti9s for the audit ol the financial ststenwnts section of our report. We are independent ol tha charity in accordancg with the ethical requirements that are relevant to our audit of th8 fnancial st8t8m8nts in the UK. induding the FRC'S Ethlcal Standard, and we have fulfilled our other ethical responsibilities in accordance with thès6 raquir8m8nts. W8 beli8Vg that the audit evidence w& have obtained Is suffluènt 81x1 at4)roprig to provide a basis for our opinton. Conelusions relating to golng concern In audtbng the finaneial statements, we have concluded that the Dlocesan Councifs u$8 of tho going concem ba313 of accounting in the preparatkon of th& financial Statemènts is appropri8t8. Based on Ihg work we have performed, we have not identified any mat81 unc6rt8intia$ relating to ev8nls or nditlons that. indlvidu£lly or co118CtiV81y. may cast signtfi¢ant doubt on the charitys ability to contlnue as 8 going oncgrn for a period of at leasl e1Ve motths from when the financlal statements are authoris9d for issue. Our responsibilities and th& responsiblllfjes of tho Diocesan Counul with re¥)8d to goi con¢em are descrlb8d in the relevant sections of this r8POrt. Other Infomiatlon The other information comprises the infomation inclu¢Jed in the annual r&port oth8r than th& fiar181 statornents nd 0r 8ud*torfs report thgreon. The Diocesan Council are responsible for the other Infomation coniainèd within the annual report. Our opinion on the Iinaneial statements does rK)t ctsver th8 Oth8r information and we do not axpress 8ny form of 8ssuran¢g wnclusion thereon. Our responsibilty is to read the other information and, in doing so, consider whether the oth6r Infomation is matsrially in(x)n515tglll with the fin8ncdal staternents or our knowledge obtained in the course of the audft, or otherwise app&ars tr) ba mat8riolly rnisstated. If we identfy such material inconsistencies or apparent material misstatements, we are requlred to ¢Jetermine wh8th8r this giv8S ris8 to a materlal mlsstatement in Iha financial stat8rnaAts Ih8m3elv85. If, based on the work we have perf0Md. we ndude that there is a material mlsstatement of this other Information, wa ara raquir8d to report that fact. We have nothing to report in thls regard. attors on whEeh we am requlred to report by exceptlon Wè havg nothing to report in r88pect of the following matter8 in relation to whrch the Charttles Puounts (Scotlandl Regulations 2006 requi$ us tr) report to you if, in our opinion.. the inlormat5on given In the finanaal statèments is inconsistént in any m8t8rial respect with the Diocesan Counol's report., or proper accounting rec(dS have not been kept,. or the financial statements 8r8 not in agr88m8nt with ts a¢{)Unting rg¢ords" or we have not received all the infomiation and explanations w8 wuir8 for our 8udf(.
DIOCESE OF BRECHIN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIOCESAN COUNCIL OF DIOCESE OF BRECHIN Rospon8lblllU•s of Dlo¢esan Councll As èxplain8d more lully in Ihe statement of Dioc8san Coun¢il'$ rgspons1bilits, the DKJcssan Council are responsible for the preparation of th8 financial statsments aThJ for being $8tisfi8d that th8y give a true and fair M8W. 8nd ft)r such internal control as thè DIsan Council deterniine is necessary to ènab18 th& prep8ratson of financial stat6m&nts that are fr88 frorn material misststem&nt, whothor duè to fraud or error. In prap8ring the fjnancial statements. thè Di0¢8san Coun¢il are responsiblè for ass8s8ing the charitys ability to continue as a going concgrn, disclosing, as appllcable, matt8rs r8lated to going concern and using th8 going conc8m basis of accounting unl&ss thg Diocgsan Counol either intend to rAas9 OPgr8tion8. or have no mlistlc aematIv t to do so. AudltorfB responslbl11tl for th• audlt of the ftnanclal statfrmonts We have been apwinted as auditor under section 4411llcl of th8 Charities and Trustee Investment (Scotlandl Act 2005 and report in accordanca th8 Act and relevant regUlaOn5 madè or having effect thereund8r. Our objectives afe to obtain r8880nabte assurance about whèthèr th8 finanryal statements as a Who are frè& frorn atgri81 misstatement, wh&ther duè to fr8ud or error, and to issue an auditorfs r8PQrt that includes our opink*n. Reasonable assuranc8 18 a high level ol assuraneè but Is not a guarantee that an audit corKlucted in 8ccordance with ISAS IUKI wll always d8t8Ct 8 material misstatement wh6n it 6Xsts. Mis8tatements can arise from fraud or •rror and arg considered material il, indwiduolly or in the aggregate, they could r6&sonably be expected to infiuenc the economlc dècisions of users taken on the basis of thé88 firb8nciai statements. Tha èxtant to which our proced¢j$ ar& eapabb of detecling irregularftl&s, IndudlThJ fraud, is detailed belryrt. At the planning stsge. wtr ass8S$ the risk of material misstatamant and any such irregularits.es and dasign 8udlt procedures tailored to these rtsks which w¢ll be lolknwed.to a$Ure that we are capae of Meng responsibilthes in this area. Factors relevant to our ass&ssmont, whlth have a positive impaci on th$ capability of our prwedures to d8t8ct such Irregularitl69. ar8 th8 size ol Ihe entlty, th6 mpleXty of the entitls 0ratIonS and our understanding of thelr regulatory and coThtrol environments. The staff worn9 on this audit assignment hav8 bagn fulty briefed in relation to th8 ch8fiVs a(knties, indudlng the règulatory regime in whlch th6y oper81e. A8 part of an audlt in hcujrdance with ISAS IUKI, wè axe189 professional judgemènt and maintain profes&onal sc6pt¢eJsm throughout the audit. Wè 8190.. Id8ntty and assess the risk5 of material misstatement of the financ4al statements. whether du8 to fraud or error. design and pèrform audit procedures r¢sponsive to Ihose rfsks, and obtain eMd8n¢e that is suffiaent and appropriat6 to provide a basls for our opinK)n. The rfsk of not detècting 8 material misstatement r&sun9 from fraud is higher than for or)8 resulting from orror. as fraud may involve collusion, forgery. intentional oMi10n3, misMprg8enlations, or th& overridg of intemal control.
DIOCESE OF BRECHIN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIOCESAN COUNCIL OF DIOCESE OF BRECHIN Obtain an undgrstsnding of internal control re18V8nt to the audit in ord9r to design audit procedures that arg appropriate in the CircuMstanS. but not for the purpose of expressing an OnIOn on the effectiveross of the int8mal control. Evaluate the appropriateness of accounting policies used and the reasonableness of aco)unting estimates and relatad dlsclosuros madg by thg dirg¢tors . Evaluatè the ova¥all pr8sèntation, 5tructurg 8nd content of the ffinancial stalemgnts, induding the disclosures, and whether the financial statements Tepresent the underlying transacts.ons and events in a manner that 8¢hièv6s tsir presentatton. W8 o)rnmuni¢ats with those ¢harged with govemance regarding. among other matters, th& planned scopè and tlming of thè audit and significant audit ffinding8. induding any signific8nt defiaencies In internal o)ntrol that we lentrfy during our audit. A further descripUon of our rs$pon8ibilth¥$ 1$ available on Ihe Financial Reporting Council's website at.. httpsjl vww.frc.org.uklaudltorsresponslblllts.es. Thls descrlptlon fomis part of our au¢JitortS faport. other matters Your attention is drawn to the fact that the charity has prepared financial staiements in accordance with'Accounts'ng and Rèporting by Charities.. St8tèrn8nt of R0mnd8d Pradice applic8ble to charities preparing their accounts in accordance wth the Financial Reptsrting Stand8Td applicablè in th8 UK and Republic of Ireland IFRS 1021" 188 8rn8ndedl in pr8f8r8nc8 to the Accounting and Reporting by Chariti88: Statgment of Recornmond8d Pracbc8 issued on 1 Aprll 2005 which Is referred to In the extant regulatnS but has now beèn withdrawn. This has baan donè in ord8r for th8 finanaal statèm8nt8 to prwdg 8 trug 8nd fair vigw in a¢dance with current Generally Aepted Accwnting Practice. U50 of our report This reFk)rt is rnade solely to the charty's trustees, as a body, in accordance with Regulation 10 01 the Charitles Accounts (Scotlar) R8gulations 2006. Our audit work h8s b89n und8rtak8n 50 that we might 8tatg to the charitys trust8es those matters we are required to stats to thern in an audrtor's report and for no other purpose. To the fullest 8Xtent pwmittèd by law, w8 do not accept or assumè rèsponslbility to anyone othar thar> th8 chanty and th8 charity'8 trustees as a body, for our audrt work. for this repwt, or forthe opSnlons we have forrn. Murrny alg0 .A. (Sonlor St•tut•ryAudltorl For and on bgh8lf of bk plu$Audit Limit8(l. St8tutoryAuditc* 144 N8th8rgat8 Oundee DD14EB 20 bk plus Audit Lirnited is eligib for appointment as auditor of the charity by wrtue of its eligbility for appointment as auditor of a company under secth)n 1212 01 the Companies Act 20(.
DIOCESE OF BRECHIN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2025 Curront flnanclal yèar Unrgstrlct8d Unr•$trf¢t•d funds funds general doslgnatsd 2025 2025 Rostrlctod funds Total Total 2025 2025 2024 Nots8 Incomo from- Donations and legaoes Inv88tmgnts 142.780 17,108 335,607 27,850 352,758 37.837 831,145 82.795 201.832 74.350 Total In¢om• 159,8B8 383.457 390.595 913,940 276.1&2 Expondltur• on.. CharitAbl8 actiwties 183,248 25.910 291.738 321,859 Not gains on investments 10 11.566 18.051 28.926 56,543 369,221 Net IncomèllèxndlfUrel 111.794) 355.598 334.941 678.745 323,544 TransfoTr btheen funds 368.080 1368,0601 Net mov•m•nt In fund¥ 356.266 {12.4621 334.941 678.745 323,544 Fund balancès * 1 December 2024 390,665 1,688.400 1,276,753 3.355.818 3,032,274 Fund balan¢efj at 30 Nov•mbor 2025 746,931 1.675.938 1.611,694 4.034.563 3.355.818 Th8 St*emenl of finandal acOwtie8 includes all galns and10sses recognlsed In tha year. All incorne and exp&ndiLur9 derive from ¢ontlnuing activltt&s. 10-
DIOCESE OF BRECHIN STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2025 Prlor finonelol year Unrnstrkted Unr6strlct8d ROSt¢t9d funds fvnd¥ funds oènèral doslgnated 2024 2024 Total 2024 2024 Income from: Donations and lèg&É$8 Investments 141.424 16,913 60.408 32,950 201.832 74,350 24,487 Total in¢ome 158.337 24.487 93.358 276.182 Expendlturè on: Charitable actwities 200,503 52,433 68.923 321.859 Net galns on Inv8stm6nts 10 67,621 128,610 172.9SYJ 369,221 Ngt movement In funds 25.455 100,864 197,425 323.544 Fund balances at 10acemb•r 2023 365,210 1,587,736 1,079,328 3.032,274 Fund balane•s at 30 Novemb8r 2024 390.665 1,688,400 1,276.753 3,355,818 11
DIOCESE OF BRECHIN BALANCE SHEET AS A T 30 NOVEMBER 2025 2025 2024 Not•s Flx•d a8s•ts Tangible assets Investments 12 13 1.152,613 2.486.945 784.723 2,589,191 3,639,556 3.373.914 Curr•nt a$s¢t• D8btors Cash at bank and In hand 15 352.849 189,379 6,629 111,268 542.228 117.897 Cr•ditorn: amounts falllng due wlthln one year 16 1147,2151 1135,6541 N•t eurrent asset8llllablllll•81 395.013 117,7571 Total assets l•s¥ eurrgnt Ilabllltles 4,034,571 3.356.157 Credltors.. amounts falllng due aft•r more than ono yèar 17 181 13391 N•t ass•ts 4.034,563 3,355,818 Thg fvnds ofthe charlty Reslricted incom6 funds Unrestricted funds- general Unrestri(tsd fvnds- designated 1,611,894 746,931 1.675.938 1.276,753 390,665 1.688,400 19 4,034,563 3,355,818 The finandal st8tèmgnts were approved by thè Diocesan CounLyI on The Islv)p, Th8 Right Revd. Andr&w SvAft Dlo¢•san Councll 12
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Ae¢ountlng pollel•• Charlty lrtforniAtlon Th& Dioces6 of Brechln Is a registered eharfty wlth th& Offlcè of Scottlsh Charlty Regulator IOSCRI. 1.1 A¢countlng ¢onventlon Thg financial statements havg been prepared in acranC8 with th8 Charitys constitution, the Charities 8nd Truste& Investment (Scotlandl Act 2005. the Charit$ Accounts Iscollandl Regulations 2006 las èm6ndadl and 'AntIng and Reporting by Charities.. Statement of Recornmended Practice applicable to charities pr8paring th8ir accounts in accordanc8 With th8 Financial R8POrting Standard 8ppli&9bl8 in th8 UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The charity is a Public Benefit Entity as ¢Jefined by FRS 102. The Charity has takeo advantsge of the proM$ions in the SORP for charities applyng FRS 102 Update Bull&tin 1 not tr) pr8par& a Statement of Cash Flows. Th• ffnand81 statèmènts have departed from tha Charitlès IAcctyJnts ènd Rèptsrtg) R&gul8titsns 2008 only the extent required to provide a true and lair view. This departure ha6 involved following the Statement ol Recommended Practice for charitie3 applying FRS 102 rather than the version of the Statement of R8commandèd PrdctieA whi¢h Is r8f$rr8d to in th6 R8gul8tions but whith has 5inco boon withdrawn. The financbal statements afe prepared in sterling, which is the functional currency of the charity. Mon8tary amounts in these financial statements are rounded to the nearest £. The financtal StateMS have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment Properbes and certain financFal instruments at fair value. The principal accounting poliaes adopted are Set out below. 1.2 Golng concern At the dme of approving the financial statements, the Dlocesan Council have a reasonable expectation that thg ch8rity h85 ad8qUate reSOU&S to ntInu8 Iri op8181*onal 8XiSt8ncè for th8 for85888ble futur8. Thu5 th8 Di0¢gsan Counal COnu to adopt the going concem basis of &counting in preparing the fnanclal StateMS. 1.3 Charftsble funds Unrestricted funds are avail8ble for u¥9 at Ihè dlscrgtion of th8 Dioc8san Coundl In furth8rydnc& of th8ir charit8bl8 objectiV85. Designated funds comprfse funds whlch hav& been set aside at the di8cretion of the Diocesan Council for specific purposes. Th8 puTro588 and u888 of th8 désignatod lunds ara sèt out in thé notes to tha financial stat8tn8nts. Rèstricted lunds am subject to specffic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in thg notes to Ihe financial statements. 1.4 In0 Donations, legacies and similar incorne 8r8 a(xount8d for wh8n the Dioc8S8 (%)M&s 8nttU8d to th8 incomè 8nd a r81iabl8 8stim8t& of tha amount to bè r1Ved con be made. Gift Aid recoverable is accounted for on an accrual basis. Cash donations are recognised on rgC81Pt. otheT don8tions ar8 r8cognised onc8 th8 ch8rty Vtas bèèn notlfiod of thè donation, unl&ss performance conditions require deferral of the amount. Incorne tax recoverable in relation to donations received undgr Gift Aid or dgods of )nant 1$ rècogni$1 at th6 fjmo of tha donatlon. 13-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poll¢le8 Icontlnuod) Legacl$s s recogni8ed on receipt or othèrws& rf the charity has be&n notth8d of an impending distribution. the amount is known. and receipt Is expactèd. If the amount is not known. the legacy is treated as a continggnt asset. 1.5 Exp•nditur8 Expenditur8 is rerJognis8d once th$ 1$ a legal or constructiv& oblig8tion to transfer economlc b&n&fft to a third party. is probable that a transfer of 8(x)nomi¢ benefits will be requir$d in sethement. and the amount of th9 obligation can be measuF8d reliably. Expenditure is d8ssif18d by activity. The costs of 8ach activity are made up of the totsl of direLt costs and sh8r8d wsts. including support rx)sts involved in un¢Jertaking 88th adivity. Direct costs attbUtNe to a single activity ar& allocated directly to that acowty. Shargd costs which contribut8 to rnore than one activity and support costs whieh ar8 not attributable tr) a single actiwty are apportlonad batween those actimties on a ba%$ consistsnt with the uss Of resoue5. Centra1 staff costs are allocated on tha basis of time spent, and depreclation Charges are allocated on the portion of the asset's us8. All expenditurè 1$ included on an accrual basi8 and 13 recognised vth8n there is a legal obIlgaOn to Pay for èxpenditure. Irrecoverab18 VAT is induded in the rèlatèd 8XPgnditure. 1.8 Tanglble flxed a5ts Tangible fixed assèts 8re initi'ally measured at co8t and Bubsequenuy m$&8ured al ¢))st or valuatlon, rt of d0pr8&ti0n and any impalm8nt lo88es. Oepredation 1$ rgcognised so as to WTts off the cost or valuatiorb of 8ssets less thelr rasi¢Jual values over thelr useful lives on th& ftsllowing bases.. Frè8hold land and bulldltvJs Fixtures and fithngs 20% RB Th8 gain or loss arfslng on the disposal of an asset is determlnad 85 the differencè b8tW8en the le prod$ and the carrying value of th8 asset, and is reeognisgd in the statement of finanal activiti6S. 1.7 Flxod ass•t Investsnents Fixed asset Investrn8nts are inldally m888ured at transaction price exclu(Jing transaction costs, and arg sub59quentty measured at fair value Bt èach reporting dat6. Changes in lair valuè aro rerjognised In nat incomellexpenditurel lor the yèar. Transaction c(>sts 8r8 8xpensed as Incurr8d. 1.8 Impalrnient of flx•d 85s9ts At 88ch reporting ond d8t8, Ihe charity rewgws the carry(ng amounts of Its tangibl8 assets to deterrnine whether th8r8 is any indication that those assets h8V8 suffered an imp8irment loss. If any such indration gxlsts, the recoverable amount of th9 asset Ls estimated in order to detamin8 th8 extent of tha impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash 8quiv81ents Includ& e88h in hand, d8posts held at call with banks, other short-term Ilquld investm&nts with original maturities of thro6 months or less, and b8nk overdrafts. Bank overdrafts are shown within borrowings In current liabiliti&s. 14-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 AoUntIng pollcl•s Icontlnuedl 1.10 Flnanclal Instruments The charlty has &lecied to apply the provisSons of Sectlon 11 'Basic FSnan¢lal Instrum&nts' and SeotHJn 12 'othèi Financial Instrumonts Issu6s' ()f FRS 102 t() 811 of its fin8ncial instrutnents. Flnancial instruments are recognised In the charltys balanc4 sheet when the charfty becomes party to the cOntraCtal provisions of thè instrument Finan81 8588t8 and liabilitses 8r8 offs8L with th8 n8t amounts pres8nted in the fin8ndal slatements, when there is a legally enforable right to set off the recognised amounts and there Is an Int&nfjon to s6ttle on 8 net basis or to r8alise th8 ass8t and s8tt18 the liability simultaneousty. 8a¥k fin8nclalassets Basic financial assets, which includè debtors and eash and bank bal8nc85. arg inthalty mgasured transaction pric8 induding transaction costs and are subsequently carried at amortised Cost using the effective interest method unless the arrangement COnstuteS a Inancing transaction, where thè transaction is measured al the present value of the future receipts discounted at a market rate of interest. FlnancAal assets classif16d as r6c&N8bl& within on& year8rÈ rK)t amotb$ad. BaslG flnanclal Ilabllltlos Basic financial liabilities, including creditors and bank loans are in1tial Tecognised at transactlon prfee unless the arrangement consututes a financing transactlon, Whe the debt instrument Is measured 8t the prèsènt value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable thin onè yèar arè not arnorlissd. Debt Instruments ar& Subsequently carrted at amortised cost, using the effectlve intsr&st rate method. Trada credltors are obligations to pay for goods or setvlces that have been acquired In th& ordinary Course of operations frorn suppliers. Amounts payable are Classified as current liabilities if payment is due within one year or less. If not, thèy a presented as non-currènt liabile$. Trade creditors ère r6e(MJnis8d initialty at transaction price and subsequently measured at amorbsed c4Jst using the effective int8rest method. Der8cognltion of flnanelèl Ilathlit18S Financial liabilities 8r8 d8récognis8d whèn the charity's contractual obliga05 expir6 or are discharged or cancelled. 1.41 Employ0• rt•fits Th8 Cost of any unuséd holiday stI•M0nt Is racognisad in tho pèrfod In whlch th8 ampl0,5 s&rvlcas 8ra received. T8mination b8n8rrts ar8 racognis•d immediately as an expens6 when the charty Is domonstr8bly eommltted to teminale the employment of an employee or to provide temiination benefits. crftle•l a¢¢ountlng •stlmat•s and ludg•monts In thg application of the charity's 8C(x)unting policiès. the Di(>cèsan Council ère roquired to make judgernontg. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent Irom other sources. The estymatg8 and associ*8d assumptions ar8 ba88d on hi5tori(¥l éxpgriOllCg and oth9r factors that ara considarod to bè m16vant. Actual resuts may differlrom these estimates. The e3timatg$ 8nd underfying 885UrnPtions are remewed on an tsngoing basis. R&wsions to accounting estimates are recogniserj in the period in which the estimate is revised wher8 the revision affects cnly that period, or in Ihe pgri(xJ ol Ihg r8vision and frrture riOdS where th8 revision 8ff6ds both cuffant and futur p8ritxls. 15-
88 (y 4 0 (Do
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DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Charltablo acllvltl•8 Charltabl• Ch8rltsble adlvlti actlvltles 2025 2024 Staff costs Depreciafjon 8fxI irnpairment Ministry Sundry payments Quots to General Synod Bishop's expenses Grants Rental expenses 102,390 170 4,468 8,352 47,925 7,247 90,662 11,0271 104,376 212 4,792 2,426 46,761 12,858 100,790 1.276 2eA).187 273.491 Shar8 of Support costs (see note 61 Share of govemance c05ts1889 note 61 6,067 25,484 3.409 44,959 291,738 321,859 Anal1$ by fund UnFestrictsd funds- genor81 Unrestricted funds- desYJnated Restricted fun(ts 183.248 25.910 82,580 200.503 52,433 68,923 291,738 321,859 8upport costs Support Governanco osts costs 202SSvpp(Kt (x)sts Govemance 2024 Account8rbcy and Bookkeeping off (x)sts 1.110 4,957 1.110 4,957 1.020 2.389 1.020 2.389 Audit f688 Ac(x)untan¢y L6g81 and professional 11,028 5,298 9,158 11,028 5,298 9,158 10,410 4,328 30,221 10,410 4.328 30.221 6,067 25,484 31,551 3.409 44.959 48,368 Analysgd be88n Charitable athvlts"6s 6,067 31,551 3.409 44,959 48,368 18-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Not movement In funds 2025 2024 The n81 movement in funds is 3tated after Charn{crediting)'. Fèas payablè forth& audit ofthg charitys finanry81 staternents Depreciation of owned tangible fixed asseis 11,028 t70 10,410 212 D10c•n Coundl The Blstiop. The Right Rwèrsnd Andrèw Swrft. 18 8 Tru8t89 of Diocg88 of Brgchin. In the year he received a Stipend of £51.297 12024..£49,1841 and penslon contributions of £7,804 12024..£10,5581. He also recwved Iravelling and te5ephone expenses of £3,12112024'.£1,9321, and manse expenses of £4.12512024..£10,9251- EmploYS The average monthly number of empbyees during tho y6èrwa$'. 2025 NuMr 2024 NuThb8r Employm•nt ¢osts 2025 2024 W8gg5 and salaries Other pgnwon costs 86,773 15.617 83.211 21,165 102,390 104,376 Th8r8 w9r8 no empl¢)yegs who¥é annual rémun8T81ion w88 Inor8 than £60,000. 19-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 11 Taxatlon The tharity is exgmpl Irorn tsx on inci)mè and gains fa114ng wlthln section 605 of the Tax&sAct 1988 or section 252 olth$ Taxatron of Charggable Galns Act 1992 to th8 extent thatthese are applied to its charitable objects. 12 Tanglbl• fixod assèts Fr¢ohold lond Flxtures 8Nt ond bulldlngty fltdfigs Cost At 1 D8rnber 2024 Addits'ons 783,873 366,060 10,208 794.081 368,060 At 30 Novemb&r2025 1.151,933 10,208 1,162,141 Depreclatlon and Impalrmont At 1 Decembgr 2024 Depreciation dr9ed in the year 9.358 170 9,358 170 At 30 Novsmbèr 2025 9,528 9,528 Carrylng amount At 30 Nov8mbar 2025 1,151,933 680 1.152,613 At 30 November 2024 783,873 850 784,723 The valuation of the properties were made as at 30th November 2021 tsy J&E Shepherd, Chartered Surveyors, on an open market basis. 3 Martin Place. Stonehaven was purchased on 14th Jung 2021, at a cost of £278,873. 2 Str8thgray Road, Dund88 was purchas8d on 24th Cktot4r 2025. at a cost of£388,060. 13 Flxed asset Investments Unllst•d Investments Cost orvaluatlon At 1 Dg¢eml*r 2024 Additions Valuation changes Disposals 2,589,191 249,521 50,822 1402,5891 At 30 November 2025 2,486,945 Carrylng amount At 30 November 2025 2.486.945 At 30 Novembsr 2024 2,589,191 21
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 13 Flx¢d a¥t In¥tmonts Icontlnuedl majority of lh6 InvastrTf8nts are held in the Sc¥)tt&sh Epi8(x)pal Church Unlt Trust Pool. Th9 Vnf( Trust Pool was ostsbli8hed by the Investmènt Comrnittee of the Goneral Synod to bring togeth8T th8 disparate investments of thè various funds of Gèn8ral Synod, the Di0Se$ and thg individual cOnggationS of the Churth to enable tt&sa to b8 rnanaged professlonalSy. Thg Unit Trust Pcx)l is ther8for8 purely an invostment vehid8 of the So)ttsh Episcop81 Church. Most ol the intrentS in the Unit Trust P(K)I relate to UK investments. 14 8IBhop'g Crozl•r The Dlocasè hold3 r8sponslblllty for Insuring th8 Bishop's Crozler, a eèrgmonial ecdeslasdcal it8m usod in the ministry of thè Bishop. The crozier is own8d by the DISe but is not recognized as an asset in thgse financial ststements as th8 original cost is immatari81 in the ¢x)ntext of the 2025 accounts. The item is indudod thln the Dioc858'$ insurance arrang6m8nts and is Insured for approximately £56.000. 15 Dgbtors 2025 2024 Amounts falllng duo wlthln on• year.. Trad8 d8btors quota stipend support other debtors Managed funds 1,647 9,600 338,958 1.553 1,466 352,849 8,629 16 Credltors: amounts falllng due wlthln on• y•ar 2025 2024 Oth•r t8X8tion and social sacurty Stipènd support Managed funds other creditors and 8ccrual3 5,202 2.865 39.429 99,719 4.612 4,417 39,429 87.196 147,215 135,654 17 Cr•dltor¥'. amounts falllng due aft•r mor• th4n one year 2025 2024 Catterlln& ban 339 Thè Diocese has coma to an arrang8m8nt with the Catt&rlinè iurch in th8 summer of 2022 and h8$ repaid some ofthis surn earfy.
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DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 21 R•latod party tran8actlo The remuneration of key management personnel, who are also trustees, is as follows. 2025 2024 Aggregate compensation 61,027 60,553 During the year the charity ented Into the following transactions with related partie$.' Quota was assessed on various charges and detsils are as follow5- with the Trustees noted- the charge they are also trustees of- the quots asse&8ed for the year- and the amount prepaid or oustanding al the year end.. Professor Susie SGhofield, The Diocesan Secretsry Dr Jaap Jacobs. The Diocesan TreaSur Mr Bob Main, The Very Revd. Roxanne Campbell and Ms Alison Taykn- The Cathedral, Dundee - £29,280 - £720 overpaid The Revd. Canon Kenneth Gibson - St Mary Magdalene's Church, Dundee and St Ninlan's Church. Dundee and Mrs Ju(ly Struth Sl Mary Magdalene's Church, Dundee- St Mary Magdalene's -£10.030- £200 prepaid,. St Ninian'$- £3,935 The Revd. Canon Mary Jepp - St Teman's Church, Muchalls and St. James Church, Stonehaven- St Ternan'$- £4,475 - Sl James £6,610 . £667.20 prepaid Mr Edward Stan$feld- St Mary & St Peter Church, Monlr08e- £6,360- £764 outstanding The Revd. Mark-Aaron Tisdale- St St Mary's. Broughty Ferry- £10,532 - £285 prepaid Professor Peter Sharp - Sl J8mes Church. Stonehaven £6,610- £667.20 prepaid Mr Geofftey Bell - Sl Teman's Church, Muchalls- £4,475 The Rev'd Pete Mead- St Mary's Aroath and St PeteffsAuchmithie- St Mary's £5,252- Sl Peterfs £85 The Rev'd Lynn Davidson - St Margarevs Dundee and All Souls Invergowrie- St Margaret's £2,484 - All Souls £3,852 See note 24 for Stipend support paid lo various churches. During the year. the Diocese recognised a donatlon of £335,607 from St Margaret'$ Home, Dundee, following the winding up of that Charity after the sale of its care home and the approval of tts dlssolulion. Under the goveming document of St Margaret's Home, the remaining nel assets were required to be tranSferd to the Diocese of 8rechin on winding up. The amount was recognised as income and included within debtor8 al 30 November 2025, with the funds subsequently received in Decemter 2025. The donation has been designated by the DI0San Council lor fvlure ministry support through the St Margaret's Ministry Fund. The Bishop, The Dean, The Registrar and The Chancellor were also trustees of St Margaret's Home. Accordingly, the transaction is disclosed as a related party Iransaclion. The trustees received no personal benèfrt from the transaction. -28-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 22 Quota 21125 2024 Quota reCeIvèb from Churchss Paid to Gen¢ral Synod 119,947 47,925 119,947 46,761 72.022 73,186 Summary of Quotas Quota due for 2025 are as follows.. Arbroath, St. Mary's Auchmithi&. St. Ptrt8rfs Brechin, St. AndTeW'5 Broughty F8ry, SL Marfs Carnoustie, Holy Rood Cattertine, SL Philip's Drumlithie. St. John the Baptist Drumtochty, St. Palladius Dundee- Th8 Cathedral St. Luka's St. Margar8fs st. M8rtin'8 Sl. Mary Magdalene's St. Ninian's St. Salvadorfs Fasque. St. Andr&Ws Glèncarsè, All S8ints rkverbervie, St. Dawd of Scouand Invorgowrie. All Souls Laurencekirk, St. LaurerKe's Monifieth, Holy Trinity Montrose, St. Mary and St. Petèfs Muchalls, St. Tgman'8 Stonehaven, St. James 5,252 85 4,665 10,532 3,468 492 925 600 29,280 4,775 2,484 3,215 10,030 3,935 5,255 985 6,022 1,345 3,852 1,165 4,140 6,360 4,475 6,610 5,686 60 3,923 10,400 3,587 444 852 444 30,995 4,546 2,735 3,179 10,652 3,707 5,638 7e8 5,398 1,308 3,947 1,128 4,079 6,034 3,935 6,502 119,947 119.947 Notè.. 0utst8sx1inlprepaldI at 30 Nov8mb8r 11,2171 12,672) 23 Retlrement beneflt schome8 The Scottish Episo)pal chUh operatss a defirhed benefrt scheme of which three empk*yees of the D0$6 arè m8rnbgts. Thè 18St actuariol Valuati was carried out on 31st Dgcemb8r W23. but it is not possible to disclose the charitys share of the total scheme assets northe outstanding liablity. Tha Diocèsè's contributions were roduced from 32.2% of standard stiP8nd and 88lary to 22% with effect from 1 January 2025. The pensionable salary for SEC standard stipend figures of Clergy was set èt £32,988 from 1 JAnu&ry 2024 to 31 December 2024, then increased by 4% to £34,308 eff8CtiV8 from 1 January 2025 untll 31 December 2025. It was then furtheT increas8d by a further 6% to £36,381 on 1 January and currendy stands at that rate until 31 December 2026. The incws8 for 2027 is rtot yet known. .29-
DIOCESE OF BRECHIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 24 stIn Bupport rh& asststed varIS churches support tsér sbpondiary mini8ty throughout the year by vrdy of ministy support. Thes6 ehafg88 W9rg supported by a restricted GSO Mlssk)n 8rKS Ministy Support Grant IMMSGI of £54,999, the UPA No. 1 Fund incom& of£9,648. In addition, 8 numb8T of charges were furiher support8(I through the use of ts Sl Jthn the Bapst d&slgnatèd funds and Luscombe 8enèf8etion 2025 restricted Fund. Tha tot81 levels of support pmwded togeth6r with Iha $our¢& offunding is as show below.'- CHARGEISI MMSG UPA Lfjfjscornbg 2025 St John the Baptist Fund$ Total Support St Luke's, Dundee St Mary's, ArbT08th St Ninians £15,477 £16.008 £6.868 £15.477 £16,008 £16,516 £9,648 All Soul's. Invergowriel St Margarets, Dundee Monifethlcarntsustiè Much811slStonehaven Tota15 £2,587 £2.587 £8,323 £8,323 £54999 £3,679 £4,952 £11318 £12,002 £15,002 £77,592 £1,727 £1,727 25 Ass•ts hold on bèhalf of other8 Th• Dioeès8 is custodian of the followlng units olthe SEC UnltTrust pxxjl.. 568 units- Catterfine Endowment Fund- v81ue £18,707 422 units- Gladys Forsyth Grant Bequest- value £13,899 614 units- Lord Clinton 86quest Fund- value £20,222 9,563 units- SIAndrews Fasqu6 Fabric Fund- value £314,961 Tho Trustees are currentty att8mpting to determine thè b$ngfial Tr•mer of th8 8S88ts and allocal& ownarshlp to them within the SEC Unit Trust pooj. Include(1 In Creditors are sums totalling £31,472 {2024 - £28,5651 representing accumul8t8d dwidends less exp8nd*ture for the above funds I bequests. The majority of th8 managed funds cr8ditor of £39.429 Is du& to th&Alb8rt Gladstone Fasqua- 8g8in the Trustees are trying to trace this oroanisation to mak8 payment. The DIoc&s8 is al80 Custodkan of 6 bank accounts for somg Wuests totalling £14.355 12024 - £14,237). Again th8 Trustees are 8tt8mpting to detemiintr tha benefic1 owt)er of th8sè aB¥gts and pass the fuN15 to thgm. The Bishop is currentty in the prcKess of cra8ting a Separate charity to hou8e the 11.31512024- 11,3151 units of the SEC Unf( Trust pool belonging lo the Bishi¥)'s Dls¢r8tionary Fund- valuè £372,66412024 £363,725>. -30.