2025-08-31-accounts - Greyfriars Episcopal Church-St Francis Of Assisi

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GREYFRIARS EPISCOPAL CHURCH

STATEMENT OF ACCOUNTS

FOR THE YEAR ENDED 31[ST] AUGUST 2025

SCOTTISH CHARITY NO: SC018260

Greyfriars Episcopal Church Trustees Report Year ended 31[st] August 2025

Reference and Administrative Information

Charity Name: Greyfriars Episcopal Church Charity Registration Number: SC018260

Contact Address: Whinnybrae, St Michael’s Road, Crossmichael, DG7 3AY Trustees

The trustees who served at any time during the year and up to the date of signing the accounts are as follows:

Gwendoline Shaw – Secretary Linda Gaston – Treasurer Sandra Walsh – Lay Representative Paul Campbell - Property Conveyor Doreen Blackadder John Boyd Sue Davies Francis Cassera Ann Gault

Principal Office-bearers

Priest in Charge: Alison Hudson Secretary: Gwendoline Shaw Treasurer: Linda Gaston

Independent Examiner

Linda E Brannock B.A., C.A.

Carson and Trotter, Chartered Accountants, 123 Irish Street, Dumfries, DG1 2PE

Bankers

Bank of Scotland, 192 King Street, Castle Douglas, DG7 1DB

Governing Document

The Charity was formed in 1951 and is registered with the Office of the Scottish Charity Register (OSCR) (number SC018260). The charity is governed by a constitution and is an unincorporated association and complies with all money laundry regulation.

Greyfriars Episcopal Church Trustees Report Year ended 31[st] August 2025

Recruitment and Appointment of Trustees

The Priest in Charge is a permanent member on appointment. The nominated lay officials are elected each year by the Annual General Meeting established by constitution and under Canon Law of the Scottish Episcopal Church. Two members of the Vestry retire each year after 3 years’ service and must wait one year before being re-elected. There is no formal training, but ongoing guidance is given to ensure that the Vestry members are familiar with the Church’s values, aims and responsibilities as the designated trustees of a charity.

Objectives and Activities

The main charitable purpose of the organisation is the advancement of religion.

The Church’s principal activities include public worship in sacrament and prayer. Christian education, charitable work and fundraising for local, national and international needs. Greyfriars Vestry shares the appointment of an ordained minister with St Mary’s Church, Gatehouse of Fleet. The mutual support of both congregations is essential for the continuance of their shared charitable objective.

Achievements and Performance

The Revd. Alison Hudson was licensed as Priest in Charge in September and under her leadership the church has continued to grow it congregation and day to day income. Several donations boosted the income this year however the Vestry thought it sensible to draw down £10,000 to enable all costs to be met. This has proved unnecessary thanks to a robust stewardship campaign and several fundraising activities. We had a serious heating issue within the church which has been rectified from our normal income.

Several projects were undertaken by the property conveyor on instruction from the vestry and have been able to be paid in full.

All in all Greyfriars have had a better year than predicted with Greyfriars House generating its own rental income.

Heating and lighting along with maintenance are our main expenditure.

Financial Review

The finances show an operating surplus of £9,124. The church contributed £23,777 to the Greyfriars St Mary’s Joint Account in support of employment costs for a priest in charge.

At the year-end, the balance on the Joint Account was £1,880.

In addition, the combined market value of investments and cash deposits at 31 August 2025 is £231,464.

Greyfriars Episcopal Church Trustees Report Year ended 31[st] August 2025

Reserves Policy

Monies not required for regular monthly expenditure are invested, in the first instance, in saving accounts for emergency withdrawal. The majority is invested in Scottish Episcopal Church Unit Trust Pool (UTP) and Epworth Investment Management. The investment polity of the UTP, which accords that of the Vestry, is to earn a return on the assets over the long term, enough at least to maintain the real value of the initial investment. The UTP operates an ethical investment policy.

Statement of Trustees’ other Responsibilities

The trustees of the organisation must prepare financial statements which give sufficient detail to enable an appreciation of the transactions of the Church during the financial year. The trustees of the organisation are responsible for keeping proper accounting records which, on request, must reflect the financial position of the Church at that time. This must be done to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Account (Scotland) Regulations 2006. The trustees are responsible for the maintenance and integrity of the charity’s information on the congregation’s website. They are also responsible for safeguarding the assets of the Church and must take reasonable steps for the prevention and/or detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf:

………………………………… Gwendoline Shaw Secretary

Date: 16[th] November 2025

Independent Examiners Report to the Trustees of Greyfriars Episcopal Church For the year ended 31[st] August 2025

I report on the accounts of the charity for the year ended 31[st] August 2025 which are set out on pages 6 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) 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 to 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 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any 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 requirements:
to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mrs LE Brannock B.A., C.A. Carson & Trotter Chartered Accountants 123 Irish Street Dumfries DG1 2PE

Date: __

Greyfriars Episcopal Church Receipts and Payments Account Year ended 31[st] August 2025

Receipts Donations Legacies Fundraising Income from Investments Investments Capital Return Gift Aid Miscellaneous Total receipts Payments Charity activities Grants and donations Governance costs Total payments Surplus of receipts over payments for the year Transfer to Investments Net surplus/(deficit) for year	Notes 3 4 4 5	Unrestricted Funds 2025 £ 24,872 - 2,805 6,021 10,000 4,201 3,036 -------- 50,935 -------- 40,489 740 582 -------- 41,811 -------- 9,124 - ---------- 9,124 ======	Restricted Funds 2025 £ - - - - - - - ----- - ----- - - - ----- - ----- - - ----- - ====	Total 2025 £ 24,872 - 2,805 6,021 10,000 4,201 3,036 -------- 50,935 -------- 40,489 740 582 -------- 41,811 -------- 9,124 - -------- 9,124 ======	Total 2024 £ 19,114 - 2,896 5,136 5,000 5,153 934 -------- 38,233 -------- 45,605 807 570 -------- 46,982 -------- (8,749) - -------- (8,749) =====

Greyfriars Episcopal Church Statement of Balances As at 31[st] August 2025

Bank and deposit balances brought forward Excess of receipts over payments Bank and deposit balances carried forward	Unrestricted Funds 2025 £ 10,438 9,124 -------- 19,562 =====	Restricted Funds 2025 £ - - ------ - ====	Total 2025 £ 10,438 9,124 -------- 19,562 =====	Total 2024 £ 19,187 (8,749) -------- 10,438 =====

Investment @ Market Value

Rectors House (shared with St Marys) Greyfriars House Greyfriars Church (cost) SEC Unity Trust Epworth Investments	Total 2025 110,500 140,000 957,617 ------------ 1,208,117 ------------ 193,032 38,432 ------------ 231,464 =======	Total 2024 110,500 140,000 957,617 ------------ 1,208,117 ------------ 175,424 46,744 ------------ 222,168 =======

Notes

A joint bank account between Greyfriars Church and St Marys Church is held for expenses relating to both congregations, and funds are transferred to this account when required, and shown as expenses in these accounts. The balance in this account at the year end is £1,880.
Gift Aid receipts of £4,201 as shown on page 6 covers the year 2024/25.

The accounts were approved by the trustees at the Annual General Meeting on 16[th] November, 2025 and signed on their behalf by:-

……………………………….. Gwendoline Shaw

Secretary

……………………………….. Linda Gaston

Treasurer

Greyfriars Episcopal Church Notes forming part of the Financial Statements Year ended 31[st] August 2025

1. Basis of Accounting

These accounts have been prepared on the receipts and payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

2. Related Party Transactions

There were no related party transactions during the year.

3. Analysis of Donations

Open collection Alms box General Standing orders and faster payments	Unrestricted Funds 2025 £ 7,269 - 3,225 14,378 -------- 24,872 =====	Restricted Funds 2025 £ - - - - ----- - ===	Total 2025 £ 7,269 - 3,225 14,378 -------- 24,872 =====	Total 2024 £ 4,976 - 803 13,335 -------- 19,114 =====

4.Income from Investments

The income generated from investments was £7,563.12. Of this amount £6,020.66 was paid into the charity bank account, as shown on page 6, with the remainder being credited directly to the various investments held. £10,000 was transferred from the Epworth Cash Plus Fund to support current expenditure.

Greyfriars Episcopal Church Notes forming part of the Financial Statements Year ended 31[st] August 2025

5.Analysis of Expenditure

Employment costs Gifts Diocesan contribution Music Church and Rectory Maintenance Insurance Flowers Administration Utilities Altar Cleaning Greyfriars House Maintenance Independent Examination Fundraising costs Interregnum clergy expenses Rectory Refurbishment	Unrestricted Funds 2025 £ 23,777 740 3,419 1,144 2,175 1,890 133 787 3,871 427 736 1,328 582 802 - - -------- 41,811 =====	Restricted Funds 2025 £ - - - - - - - - - - - - - - - - ----- - ===	Total 2025 £ 23,777 740 3,419 1,144 2,175 1,890 133 787 3,871 427 736 1,328 582 802 - - -------- 41,811 =====	Total 2024 £ - 807 3,253 710 2,771 1,844 25 1,481 5,045 421 997 2,543 570 521 1,145 24,849 -------- 46,982 =====