## **GREYFRIARS EPISCOPAL CHURCH**
## **STATEMENT OF ACCOUNTS**
## **FOR THE YEAR ENDED 31[ST] AUGUST 2025**
## **SCOTTISH CHARITY NO: SC018260**
1
**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.
2
**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.
3
**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
4
**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
1. 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
2. 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: ______________
5
## **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)
=====|
|---|---|---|---|---|---|
6
## **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**
1. 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.
2. 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
7
**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.
8
**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
=====|
|---|---|---|---|---|
9