Scottish Episcopal Church
St Mark's Episcopal Church
Portobello
Accounts for the year ended 31st August 2024
Reglstered Scottlsh Charlty No SC017137

Reference and Administrative Information
Registered Scottish Charity No SC017137
Principal Address:
Webslte:
287 Portobello High Street, Edinburgh, EH15 2AR
www.stmarksportobello.org
Vestry Members:
8ankers:
Reliance Bank Limited
Faith House
23-24 Lovat Lane
London
EC3R 8EB
Independent Examlner:

Annual Report of the Members of the Vestry
Introduction
This annual report and accounts present5 3 summary of our financial activities during
the year September 2023- August 2024 and gives an overview of the general activities which
have taken place in the life of our church.
Activities and Achievements
As a congregation, we continue to:
meet for worship twice a week and celebrate Christian festivals
offer baptisms, marriages and funerals to the congregation and community
offer activities for children, young people and the elderly, for social support and
spirltual sustenance
seek to se￿e the people of Portobello, through support of local artivitiesi prayer and
provision of meeting space for a wide range of community and charity activities
maintain and preserve Portobello's heritage through our care of an historic building
and churchyard.
The vestry ha5 met regularly throughout the year to review and plan activities. This
has been especially important during the fundraising and planning Stages for the
renovation.
Key achievements this year:
This year has been a year of transition and laying the foundations for the new life of
the congregation in its mission and ministry for the future.
The year has been undergirded by the two sides of the vision articulated 5 years ago-the
renovation of the building and the renewed commitment and spirituality of the
congregation.
Progress towards the fundraising for a major renovation of the 200 year old
building which will not only preserve the building, but also greatly improve its
facilities to provide meeting space for the people of Portobello.
Hosting a three day Art Exhibition for the community
10 community lunches and other social events, including a ceilldh and
concert.
Appointed a Pastoral worker dedlcated to the support of the elderly of the
community
Greater discussions
Supported three nominated charities- Edinburgh School Uniform Bank, Portobello
Beach Wheelchairs, Social Bite. An equal share of 2% of unrestricted income is given
to each.

Structure, Governance and Management
St Mark's is governed by a constitution which was adopted In 2013. As a member
congregation of the Diocese of Edinburgh in the Scottish Episcopal Church it is also
80verned by Canon Law of the Scottish Episcopal Church. For the purposes of
charities law the members of the Vestry are the CharityTrustees of the church.
Details of the Vestry members are Eiven earlier in this document.
Vestry Responslbllltles
The Vestry is responsible for managing and safeguarding the assets of the church
and assisting the Rertor in matters affecting the spiritual welfare of the congregation.
They are also responsible for keeping proper accounting record5 and ensuring that
the accounts are prepared in accordance with the tem)s of the Charities and Trustee
Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations
2006 las amended).
Relationship with Diocese and Provlnce
St Mark's is supported by the Diocese and the Province through the pastoral
oversight of the Bishop, central support functions provided at Diocesan level. and
Brants from central funds. The church is represented at Diocesan level by the Rector
and the Lay Representative. As a member of the SEC, St Mark's has an obligation
to contribute tothe costs of the Diocese and the Provincethrough payment of an
annual 'quota'. This amount is based on the relative level of income of the church in
comparison with that of other churches in the Diocese and Province.
Conclusion
Conclusion
The members of the Vestry would like to thank all those who contribute theirtime,
energy and tnoney 50 generously to ensure the continuation and development of St
Mark's as a centre of worship and a focus for the community,
Sisned on behalf of the Vestry & Charity Trustees

Independent Examinerfs Report to the Vestry Members of
St Mark's Episcopal Church
Respecllve responsibilities of Truslees and Examlner
The Church's Trustees are responsible for the preparation of the accounts in accordance
with the terrns of the Charities and Trustee Investment1Scotlandl Act 2005 and the
Charities Accounts Iscotlandl Regulations 2006 las amended) I'the 2006 Regulations.). The
Church'5 Trustee5 CQT15ider that the audit requirement of Regulation 10{l} Idl of the 2006
Regulations does no¢ apply. It is my responsibilty to examine the accounts as required
under section 4411} Ic) of the 2005 Act and to state whether particular matters have come
to my attention.
Basis of independent examlner's statement
My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. An
examination includes a review of the accounting records kept by the charity and a
comparison of the accounts pre*nted with those records. It also includes consideration of
any unusual items or disclosure5 in the accounts, and seek5 explanations froTll the trustees
concerning such matters. The procedures undertaken do not provide all the evidence that
would be required in an audit, and consequently I do not express an audit opinion on the
view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:.
which gives me reasonable cause to believe that in any material respect the
requlrements..
1.1. to keep accounting records in accordance with Section 44111 {a) of the 2005 Act
and Regulation 4 of the 2006 Regulations, and
1.2. to prepare accounts which accord with the accounting records and comply with
Regulation 9 of the 2006Accovnt5 Regulation have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper
understanding ofthe accounts to be reached.

Notes to the Accounts
Basis of Preparatlon
The accounts have been prepared on a receipts and payments basis. They Consist of a
summary of all monies received and paid via the bank and in cash by the church during the
financial year, along with a statement of balances. No adjustments have been made for any
ncome due btjt not recelved, or any cheques written within the financial year but not yet
cashed. Except for investments and the historic asset of the rectory, fixed assets are not
capitalised. Figures are represented in standard accounting format. Figures are rounded to
the nearest pound. and negative numbers are shown in bracket5, for example a deficit of
£1,000 would be shown as11,000). Due to rounding from pence, some figures may not add
across rows.
Income to St Mark's is categorised as unrestricted. restritted or for projects.
Money, which is not needed to fund day to day expenditure, is invested in the Scottish
Episcopal Church Unit Trust Pool, which is administered by Baillie Gifford.
Wlthin our main account, we have unrestricted money, which is used to cover the running
Costs and day-to-day expense5, as well as the buildin8 project.
The bi88est source of income, regular giving, amounted to £35,311. We were extremely
fortunate to receive £12,418 in donations and record thanks to everyone who made these
extremely welcome donations1£12,168 was for general funds and £250 for the building
project). Fundraising activities raised £6.9111£4,694 for general funds including the
refurbishment of the Muirhead Rom and £2.217 for the project. Rental income raised
£7.577. bank interest provided £2,580 and Gift Aid, the tax we claimed back on regular
giving, raised £7,957.
We were delighted to receive a legacythis year of £10,000. Miscellaneous income brought
in £43,402, split between unrestricted income (including insurance payment for replacing
the boiler, Diocese stipend supplement. repayment for payroll overpayment and council tax
refund for the Rectory) and the building project (grants from the Scottish Episcopal Church
and the Baird Trust and VAT reclaim on projert costs.
In total. our unrestricted income was £126,156.
Expendlture in our main account includes the Rertorfs Stipend and pension, and payroll
C05t5 for the Administrator, Or8ani5t and Cleaner totalin8 £50,622 as well as £132 for
expense5 and Sunday cover. Our contribution to the Diocese. or quota, was £8,301. Running
costs for the church building Imaintenance, heating and lightin& insurance. cleaning and
churchyard) totaled £14,841, worship costs (worship supplies and music) were £1,845, faith
development. including office costs, were £2.367 and other costs totalled £1,718
Ihospitality, bank charges and miscellaneous costs). Our three nominated charities received
a Share of £1.398. Miscellaneous costs amounted to £23,352 and included the cost of a new
boiler and emergency plumber loffset by insurance claim), redecoration of the Muirhead
Room and rectory council tax refund (transferred to rectory restricted account.

Costs associated with the building project totaled £79,958 in professional fees for the ramp
and the main building project (Campbell and Smith £38,930, Narro Engineers £952,
architects £24,535. QS £7,080. FCC grant contribution £4,300: Turner blacksmith £3,161).
Total expenditure in our main account was £183.048.
Our unrestricted funds, therefore, reflect a deficit of £56,892, comprising £7,683 on general
running and £59,209 on project costs before adding the legacy of £10,000.
Restricted
Our restricted account contains moneyfor the maintenance and improvement of the
Rectory. Although ihe house Is currently not let. our capitalised interest and council tax
refund realised £6,898 while professional fees, council tax payment and energy standing
charges were £5,201, providing 3 net income of£l,697.
Re5erve5
Our reserves are invested in the SEC'S Unit Trust Pool. At the start of the financial year,
these had a value of£80.781 and Eained £9,699. so are now worth £90.480.
Balances
Atthe end of the financial year, our balances are
Main account 002147(KJ
Balance at 01.09.23
lus/ (deficit
in
8alance at 31.08.24
79,702
156,892
22,810
ear
Restiicled account 22502738
Balance at 01.09.23
Surplus/ Ideficit) in year
Balance at 31.08.24
74,410
1,697
76,107
Unit Trusts
Balance at 01.09.23
Surplus/ (deficlt) In year
Balan￿ at 31.08.24
80,781
9,699
90.480
These accounts are presented on behalf of the Vestry & Charity Trustees and were approved
at the Annual General Meeting on 24 November 2024.

Main atcount- 00214700
Recei
Note
Unrestricted
Le
acies
Projects
Total
2024
Total
2023
Re
vlar
Re8ular
Tax reclaimed
Collections &
Donations
Donations
Fyndraisin
General
Church rent
Interest
Bishop's Lent
appeal
Legacle5
Memorial laque5
Misc.
rving
35,311
7,957
35,311
7,957
31,393
7,501
12.168
250
12.418
11.374
4.694
7,577
2,580
2,217
6,911
7,577
2,580
8.226
8,335
1,157
130
io,c
io,(KJo
70
84.971
25.120
18,282
43,402
fleceipts
95,407
io,ThJo
20,794
126,156
153.057
Payments
103,090
79,958
183,048
152.772
Surplus/ deficit
17,683
10,0
159,1641
156,8921

Main account- 00214700
Payments
Unrestricted
Total
2024
Total
2023
Notes
Rector and
associated costs
Stipend
29,100
See payrnll
below
Pension
Expenses
Cover
10,430
124
10,430
124
9,607
29
54
530
7,994
Training
Quot
Running costs
Church
maintenance
Heat/ light
Insurance
3C
8,301
300
8.301
2.853
2,853
2,659
4,588
5,013
316
4.588
5,013
316
7,584
1,932
2,166
Cleaning
Seepayroll
bEIow
See payroll
be￿%*
Offite
1.930
1,930
4,600
Churchyard
Wor5hbp
Woyship supplies
Music
141
141
1,323
454
1.391
454
1.391
929
3,277
See payroll
beki%Y
Falth development
Glenalmond
Faith development
Hospitality
Kitchen supplies
Fvndraising
expenses
Bank charges
Charity donations
Building projert
Memorial plaques
Misc.
Payroll
Payments
437
144
437
144
540
186
524
1.052
524
1.052
633
1,630
142
1,398
142
1,398
79,958
194
1,524
79.958
23.352
40,192
103,0
23,352
40.192
183,048
79.958
152,772