Charity registration number SC022180 (Scotland)
Diocese of Aberdeen and Orkney
Annual rèport and financial statements
for the year ended 31 October2024
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Diocese of Aberdeen and Orkney
Logal and administrative infom)ation
Trusiees
IApFo1n￿￿ 8 Oc￿￿er 20241
IAppointed 1 August 20241
IApwinted 2 March £0241
(Appointed 1 March 20251
IApwinted 1 March £0251
(Appointed 1 March 20251
Charity nurnb•r (Scotlandl SC022180
Registered office
The Dioce3e of Aberdeen and Orkney
Univeisily af Aberdeen
Marischal College, Brc*d Street
Aberdeen
AB101YS
Auditor
Hendtsrson Loggi8 LLP
The Stamp Offi¢e
Level 5
10- 14 Walarloo PLqc8
Edinburgh
EH1 3EG
Bankers
Virgin Montry
62 Union Street
Aberdeen
AB101WD
Solioitors
Ledingham Chalmers
Johnslone Hous
52-54 Rose Street
Aberdeen
A8101HA
Invastmont advlBors
Brèwin Dolphin
23 Rubislaw Terrace
Aberdeen
AB101XE
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Dlocese of Aberdeen and Orkney
Contonts
Page
Truslees, report
Statement of Trustees, responsibilities
Independent auditoys report
Stalemenl of financial activities
Balance sheel
10
Statement of cash flowg
11
Notes to the financlal slatements
12-29
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Dlocese of Aberdeen and Orkney
Trusteès. report
for the year ended 31 October 2024
The Trustees present their annual report and financial statements for the year ended 31 Cktober 2D24.
The financial statements have been prepared in accordance with Ihe accounting polities set out in note 1 to
the financial statements and comply w((h the Diocesan Constitution, the Charities and Trustee Inveslment
(Scotlandl Act 2005. the Charities Accounts (Scollandl Regulations 2006 (8s amended) and "Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021" leffeC￿ve 1 January 20191.
Obj•ctlves and atttivities
The aim of the Diocese is to provide leadership, encouragement, guidance. training and counsel to dergy and
congregalions lo enable them to maximise the effectiveness of their mission to their local communities
through parti¢ipalion in Christian ￿￿r&hip and provigion of pastoral support. Thg Diocèsè's fomal objgctive, as
approvèd by th8 Offiee of th8 Scottish Charity R&gulator IOSCRI, is °th8 advaneemènt of r8ligion"
The main finanttial athvities of the Dioeese throughout Ihe year were the support of Chsrges Ichurches and
congregalionsl by stipend support and other grants from the Province and the Diocese, the provision of
rinancial assistance to clergy 2nd lay persons for their Irainirkg and development, and (he pursuance of
mi¥sion projects in ar&as of growth potential.
Achievements and performance
The Bishop of Edinburgh hav'.n
com
ear as Acting Bishop, the role was taken on from 1 November
2023 by a retirgd bishop
who had
reviousl be8n appointed as Assistant Bishop with
respDnsibility for the Orkney and Shet13nd Islands
was succeeded on 1 August as Acting
Bishnp hy the Bishop of St Andrews, Dunkeld and Dunblaiie, knho was appoinled Commissary by Bishop
n her retijrn lo office on 8 October 2024.
leted a
Three curates were ordained, one in the sumrner and two in the autumn. Fdlowing the reliremerst of a
numt)er of clergy Ihere are a significant number ol vacancies wlhin the Diocese and a pipeline of o.'dinands Is
a hopeful sign. A property has been purchasèd by the Laurie Fund and il is hop8d that this will lacilital8 an
appoinlment of a priest for Longside and the Buchan area being made.
The Advisor for Christian Life continues to carry out development work as well as actirfjg as a k)curn priest and
th8 Diocèsan Nèt Zaro Group hav& bèèn acl'vè within thé Dioc*s8, raising 8war6nasg and gathèring basèlln6
inFormation to réport to thè Pmvincial Nél Zèro Group.
Sadly one of th8 churches within tho Dioc&se (St Luke's Cuminesiownl was deconsBcrat8d during the year,
consequent on the congregat￿9n having dwir¢dled post pandemic to unsustainable Trumbers. The building now
fails to the DK)cesè to mainiain, develop or dispose of.
Financial review
The results for the Diocese before gains and losses on the Diocesan inv&stment portfollo is a surplus of
£78,147 12023 deficit of £44,772), which comprises a deficit of £169,447 12023 deficit of £34,330> on
unresirictea Yun(Js an(J g surplus ot L247.5S412023 oeficit oi
ie(J tunds. Ine cuireni year's
signrficant surplus arose in tho largast part from a grant from
and the Dioce&o is grateful for
his generosity. This grant was to support the th8 purchase of a rectory In
Buchan.
entra
TThe Diocese Is also E)rtunate In naving tne support or Ene Dr Jonn Anoemn Trust. to wnicn appiicaiion can De
made for assislance with a speofic projecl or objective, and without whose help such aclivilies might have to
be curtailed, delayed or abandoned. The fund is administered by a flmi of Solicitors in Aberdeen and whose
incoma is d8riv&d from agricultural land in tho CNden Bay ar62. In th6 yèar to 31 October 2024, the Diocesa
r￿sived a 9rant of £37,750 {2023 - £37,750) for a variety of initiatives including stipend support and Irdining.
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Dlocese of Aberdeen and Orkney
Trusteg$' rgport l¢ontSnugdl
for the year endod 31 Octobgr 2024
The Diocese is also gr8leful for support from the Benefact Trust, the umbrella charitable organisalion which
derives its income from the Ecclesiastical lftsurance Group, which gave a grant in the current year of £5,261
12023 - £6,117) to create clergy recruitment materials that will be used by the Diocese as a whole and can be
used by individual congregations when writing congregational profiles and recruiling for posts.
As al 31 October 2024 the total funds of the Diocese amounted to £5,183,675 12023 - £4,567,437), which
comprises unrestricted funds of £3,737,633 12023 - £3.584,2141 and restricted funds of £1,446,D4212023 -
£983,223>.
Reserves policy
11 is the policy of the Diocese to mainlain unrestricted reserves at a level sufficient to meet planned
expenditure requirements for the next year. Based on the core budget including Provincial quota, this amounts
10 £365,000. The Diocese has traditionally monitored the portion of unrestricted fund balance arising from
accumulated surpluses and unrealised gains or losses on inveslmenls. The TrLJStees will keep ils reserves
policy under review going forward bul are comfortable at this tinie, sufficient unrestricted reserves are held.
Funds
The Dlocesan Fund {Incorporatlng the Crulckshank and Gordon Funds)
The Cruickshank Fund was inaL¢gumled in 1983 on the death of Mr JSR Cruickshank, Advocate in Aberdeen,
and a former Chancellor of the Diocese. He bequeathed the bulk of his Estate lo the Diocese without any
conditions attached. The Gordon Fund came to the Diocese in 1990 as a bequest from the late Colonel FW
Gordon with no slipulalions as lo ils use or purpose. Following approval by Synod, the Gordon Fund was
amalgamated with the Diocesan Fund on 1 November 2002 and the Cruickshank Fund amalgamated with the
joint fund following the Diocesan Synod on 12 March 2011.
Restricted Funds
The Diocese benefits from fundlng left to the Diocese for speclfic purposes as prescribed by the donor. The
main ongoing restricted fund is the William Laurie Fund which conslsts of thr8e elements being the B uilding &
Maintenance Fund, the Missionary Fund, and the House Gift.
Investment policy
Following a review of its investment Portfol￿ which conduded in 2022, the Diocese agreed to grathally
reinvest funds into the Scottish Episcopal Church Unil Trust ISECUTI pool, in order lo rnove lowards
consisloncy with Ihe ethical investment policy adopted by General Synod in June 2022.
Major risks
The Trustees keep the major strategic, business and operational risks which the DI0￿Se faces under review
and can confirm that systems are established lo enabl& regular reports lo be produces so that the necessary
steps can be taken lo lessen these risks. The trustees intend lo strengthen and formalise these systems. The
Diocesan Risk Register will be developed to refiect recommendations made by the Province as lo the formal
and content of Diocesan Risk Registers. This was not considered lo be a high priority for the period covered
by this report.
Plans for futurè pèriods
The Diocese will continue with its current aclivib'es al present. The development of further detailed future
plans will be the subject of discus&on now that the Bishop's suspension has been lifted.
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Dlocese of Aberdeen and Orkney
Trusteès. report Iconlinuad)
for the year ended 31 October 2024
Structure* govgrnante and management
The Diocese of Aberdeen and the Diocese of Orkney We￿ incorporated by long usage into the Scottish
Episcopal Church in 1690 and be(xme united in 1865 under the name, Style anij title of the United DicKese of
Aberdeen and Ort(ney.
The "parenf organis8tion of the Diocese ol Aberdeen and Orkney Is The General Synocl of the Scottis
Episcopal Church There are seven Dioceses of the Scottish Episcopal Church. The General Synod and thè
seven Di0￿seS are separate rwJistered charities.
The Diocese of Aberdeen and Orkney 1.the Diocese'l is constituted uneer, and govemed by, the Canons of
the Scotbsh Episcopal Church. The day-lo-day operation of the Diocese has been conducted under the
current Q)verning Regulations lof the Synod of the United Diocese of Aber(leen and Orkney} since 16
October 2016, when the Consb'tution of the Synod of the Diocese of 2012 was repealel and tF* new
document proposed. seconded and passed. The Governing Regulations We￿ approved, confimied 8nd
ratified by the Bishop on 18 October 2016. For convenience. they are referred to as 'The Diocesan
Constilulion 2016"
The Truslèes who served during the ye2r and up to the date of signalure of the financial statements were..
IApwinted 8 October 20241
(Apwintèd 1 August 20241
(Appointed 1 November 2023 and rgsigngd 31 July 2024)
{Retired 1 March 20251
IR&tir@d 2 March 20241
IRelired 31 October 20241
IResigned 6 February 20241
{Resigned 19 February 20251
(Resigned 9 December 20241
(Appointed 2 March 20241
(Apwinled 1 March 2025)
(Appjinled 1 March 20251
{ApsK)inted 1 March 20251
Rècruitment and appointment of trustees
The Diocese Consliiution. last updated In 2016, c￿fIrmS the Standing Committee are the Diocese's Charity
Twslees. Thè Constitution sets out th21 thè StaTrding Commiitee is comprised ol the Bishop, the Dean, the
Registrar, the HorK)rary Tre25urer and the Honorary Dioeesan Secrètary all ex4)fficlos.' the conveiors of the
pendant boards ol tha Standing Committee,. and fivo mombors oloctgd by Synod. The Standing Commi110o
may also cn-opl additional members to fill vacancies.
Organisational structure
The Finance and Property Board IF&PI has tBsponsibility for the gen8ral administrat'on ol the Diocesan
finances. A representative of the Diocesan MissM)r¢ Board should sil on F&P, to ensure that the two mairn
Boards of thè Diocese are involved irn financial decisions. The day-lo-day financial records Ère maintained by
the Assistant Treasurer.
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Dlocese of Aberdeen and Orkney
Trusteès. report Iconlinuad)
for the year ended 31 October 2024
Induction and training of trustees
The Charity Trustees have confidence in the oxperience and ability of the Trustees to administer the adivilies
of the Diocese. Induction and training will be considered on an ongoing basis, particularly in the event of a
new Trustee being elecEed or appointed.
Disclosure of Informatlon to aud5tor
Each of the Trustees has confirmed that there is no information of which they are aware which is relev8nt to
the audit, bul ol which the auditor Is unaware. They have further confirmed that they have tsken appropr￿ate
steps to Iljenlify such relevant information ano to esiat)Iish tnat Ine au(Jitor is aware of such Information.
Tru8to9
Trust80
Date..
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Dlocese of Aberdeen and Orkney
ststement of Truslg9s' re$ponsSbllitles
for the year endod 31 Octobgr 2024
The Truslees are responsible for preparirsg the Trustees. Report and the financial statements in aczordance
with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted
Accounting Praclicel.
The law applicable lo charities in Scotland requires the Trustees to prepare financial statements for each
financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming
resources and application of resources of the Charity for that year.
In preparing these financi81 ststements. the Trustees are required to..
select suitable accounting policies and then apply them consislenly;
- observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent.,
stale whether applicable accounting standards have been followed. Subject to any material departures
disclosed and explained in the financial stalemenls., and
prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the
Charity will eonlinue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable aecuracy
at any time Ihe financial position of the Charity and enable them lo ensure thal the financial statements
comply with the Charities and Trustee Investment Iscollandl Act 2005, the Charities Accounts (Scotland)
Regulalions 2006 las amended) and the provisions of the Constitution. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and deleclion
of fraud and other irregularities.
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Dlocese of Aberdeen and Orkney
Indopendgnt audltorfs roport
to the Trusteos of Diocose of Abgrdoen and Orkney
Opinion
We have audited the financial statements of DI0￿$e of Aberdeen and Orkney Ilhe 'Charily'l for the year
ended 31 October 2024 which comprise the statement of financial aclivits'es, the balance sheet, the stalemenl
of cash flows and notes to the financial statements, including significant accounb'ng policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Ac(xJunting Standards, including Financial ReFK)rting Standard 102 The Financial Reporbng Standard
8ppIic8ble in the UK and R&public of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial ststements:
give a true and fair view of the slate of the Charity's affairs as al 31 October 2024 and of its i ncoming
resources and application of resources, for the year Ihen gnded.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practi￿., and
have been prepared in accordance with the requirements of the Charities and Truslee Investment
(Scollandl Act 2005 and regulation 8 of the Charities Accounts (Scollandl Regulations 2006 las
amended).
Basis for oplnion
We conducted our audit in accordance with International Slaridards on ALJdiling IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further deseribed in the Auditorfs responsibilities
for the audit of Ihe financial statements section of our report. We are independent of the Charity in accordance
with the ethical requifemenls that are relevant lo our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evldence we have obtained is SLrfFicienl and appft)priate lo provide a
basis for our opinion.
Conclusions relating to goin9 concern
In auditing the finartcial Statements, we have concluded that the Trustees. use of the going ¢oncem basis of
accounting in the preparalion of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertaiftties relating lo events or
con(Jitions that, indivi(Jually or o)Ilectively, may cast significant doubt on the Charity s at)ility to continue as 8
going concern for a period of at leasl ￿e1ve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the
relevant sections of this report.
Other information
The other information comprises the informats'on included in the annual report other than the financial
stslemenls and our auditor's report the￿On. The Trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other informatB)n and we
do not express any form of assurance conclusion ther&on. Our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the course of the audit, or otherwise appears to be materially misslaled. If we
identrfy such material inconsistencies or apparent material misstatements, we are rtquired to determine
whether this gives rise lo a material misstatement in the financial ststements themselves. If, based on the
work we have perfomed, we conclude that there is a material misstatement of this other informats'on, we are
requi￿ to report that fact.
We have nothing to report in this regard.
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Dlocese of Aberdeen and Orkney
Indopendgnt audltorfs roport l¢ontlnugd}
to the Trusteos of Diocose of Abgrdoen and Orkney
Matters on which we are required to report by exception
We have nothing to reFX)rt in respect of the following matters in relation to which the Charities AccL)unts
(Scollandl Regulations 2006 las amendedl require us trj report to you rf, in our opinion-.
the infomalion given in the fin8nci81 statements is inconsistent in any material respect with the Trusteeg,
port,. or
proper accounting records have not been kept., or
tt)e financial statements are not in agreement with the accounting records,. or
we have nol received all the information and explanations we require for our audit.
Responslbllltles of Trus¢g0$
As explained more fully in the slalemenl of Trustees. responsibilities, the Trustees are responsible for the
preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees determine is necessary lo enable the pr&parats"on of financi81 statements that
are free from material misstalemenl. whether due to fraud or error. In preparing the financial statements, the
Trustees are responsible for assessing the Charity's ability lo continue as a going concern, disclosing, as
applicable. matters related to going concern and using the going concern basis of accounting unless the
Trustees either intend to cease operalions, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial ststements
We have been appointed as auditor under section 4411 Ilcl of the Charities and Trustee Investment (Scotland)
Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objedives are lo obtain reasonable assurance aboul whether the financial stslements as a whole are free
from material misstalemenl, whether due to fraud or error, and to issue an auditrirfs report that includes our
opinion. Reasonable assurance is a high level of assuran￿ bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatemenl when it exists. Misslatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they cou5d reasonably be
expected to influence the economic decisions of Ltsers taken on the basis of these financial ststemenls.
Irregu18rities, including fraud. are instances of non-eompliance with 18ws aftd ￿gUlatiOns. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities. including fraud. The extent lo which our procedures are capable of detecting irregularitie5.
Including fraud, is detailed below..
As part of our planning process..
We enquired of management the systems and controls the Charity has in pla￿, the areas of the
financial statements that are most susceptible to the risk of irregularities and fraud, and whether there
was any known, suspected or alleged fraud. Management informed us that there were no instances of
known. suspected or alleged fraud.,
We obtained an understanding of the legal and regulalory frameworks applicable to Ihe Charity. We
determined that Ihe following were most relevant.. Heallhy and safety, OSCR requirements, Data
Protection Act 2018, employment law (including payroll and pension ￿gUlationS1, and compliance with
the Diocesan Constilulion, the Charities and Trustee Investments (Scotlandl Act 2005 and the
Charities Accounts Regulations 2006.,
We considered the Incentives 8nd opportunities that exist in the Charity, including the extent ol
rTltlFI(sgeiTient bids, wliiLli yreberil ts yolEiitial for iriegularitiets and fraud tu be perpelr(sled. dnd t¢silorEd
our risk assessment accordingly., and
Using our knowledge of the Charity, together with the discussions held with management al the
planning stage, we formed a conclusnn on the risk of misstatement due to irregularities including
fraLsd and tailored our procedures according to thls risk assessment.
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Dlocese of Aberdeen and Orkney
Ind•p¢ndgnt auditor's report Icontinuedl
to the Trustees of Dlocese of Aberdeen and Orkney
The key procedures we undertook to detect irregularilies including fraud during the course of the audit
Includ￿..
Inqulry of management aboul any known or suspected Instances of non-￿mpli8nce with laws and
regulations and fraud",
Reviewing mlnutes of those charged wllh govemance.,
Reviewing the Charlty's pollaes ana procedures In relatbon to health and safety, employment law and
dala protection.,
Reviewing legal and professlonal expendlture incurred in the year.,
Reviewing news articles and pres5 releases.,
Challenging assumptions and judgements made by Trustees in their application of the Charity's
accounting poSicies, about th2 carrying amount of assets and liabilities that are not readily apparent
from other sources-
Auditing the risk of management ovèrride of controls. including through testing journal entries and
olher adjustments for approprialen8SS.
¢￿Ing to the inherent limitations of an audit. there is unavoKlable risk that some material miss1alem￿ls in Ihe
rinancial statements may not be detected. even though the audit is properly planned and perform&d in
accordance witrt Ihe ISAS IUKI. For instance, the further removed non-complian￿ is from the evenis and
transaclions reflected in the financial slatemenls, the less likely the auditor is lo become aware of it or lo
recc¥Jnise the non-compliance.
A further description of our responsibilities is av8ilable on the Financial Rèporhng Council's website 8t-. htlps'.li
wv¥w.frc.org.uklauditorsresponsibilities. This description forms part of ojr auditorfs report.
U¥0 of our roport
This report is made solely to the Charity's Trustees, as a body, in accordance with ragulalion 10 of tha
Charities Accounts (Scollandl Regulations 2006. Our audit work has been undertaken so that we might stale
to the Charity's Truslees those matters we are required to stale to them in an auditor's report and for no other
pur￿Se. To the fullest Èxtent permitted by law, do not accept or assume responsibility lo anyone other
than the Charity and the Charity's Trustees as a b¢)Jy. lor our audit work. for this retx)rt. or for the opinions we
have formed.
Henderson Loggie LLP Isenlor Statutory Audltor)
for and behalf of Henderson Loggie LLP
Chartered Accountants
Sta￿tOry Auditor
The Stsmp Office
Level 5
10 - 14 Waterloo Place
Edinburgh
EH1 3EG
Henderson Logoie LLP is eligible for appointment as auditor of the Charity by virtue of ils eligibility for
appointment as audilor of a company under secb'on 1212 of the Companies Act 2006.
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Dlocese of Aberdeen and Orkney
Statgment of financial activtias
Includlng Income and expendltur
for th8 year ended 31 Octobgr 2024
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and
legacies
Charitable activities
Investments
130.267
162,445
84,197
348,250
478.517
162.445
115,261
116,287
173.029
81,582
58,933
175,220
173.029
107,706
31,064
26,124
Total income
376,909
379,314
756,223
370,898
85,057
455,955
Expenditure on-
Raising funds
Charitable activities
13,890
532,466
13,890
664.186
13,602
391,626
13,602
487,125
131,720
95,499
Total expondlture
546.356
131,720
678.076
405,228
95,499
500,727
Nel gainslllossesl on
investments
13
376,38g
161,702
538,091
143,5621
16,648
126,9141
Net Incom011oxp0ndSturo1
206,942
409,296
616,238
177,8921
6,206
(71.6861
Transfers between
funds
(53.5231
53,523
13,0351
3,035
Net movement in
funds
10
153,419
462,819
616,238
180,9271
9,241
(71.6861
Reconclllatlon of funds:
Fund balances al 1
November 2023
3.584.214
983,223 4,567,437
3,665,141
973,982 4,639,123
Fund balances at 31
October 2024
3.737.633 1.446,042 5,183.675
3,584,214
983,223 4,567,437
The ststemenl of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
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Dlocese of Aberdeen and Orkney
Balanc• shgot
as at 31 October 2024
2024
2023
Notes
Fixed assets
Tangible 2ssets
Investrnents
15
16
1,177,587
3,778.788
826.558
3.255.708
4,956,375
4,082.266
Current assets
Debtors falling due after one year
Debtors falling due within one year
Cash at bank and in hand
17
17
91,337
11,172
152,007
295.749
222,846
254,516
518.695
Cr•ditor¥- amounts lalllng duè within
ona year
18
127,216)
(33,4241
Net current assets
227,300
485.171
Totsl assets less current liabilities
5,183,675
4,567.437
Net as$els èxcluding pension liability
5,183.675
4,567.437
Ngt assols
5.183,675
4,567,437
The fund$ of tho ¢harity
Restricted Incotne funds
Unreslricled funds
20
1,446,042
3.737.633
983.223
3,584.214
5,183,675
4,567.437
The financial ststemenls were approved by the Trustees on
Trustee
Trustee
10-
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Dlocese of Aberdeen and Orkney
ststement of cash flows
for the year endod 24 Octobgr 2024
2024
2023
Notes
Cash flows from operating activltle$
Cash generated fromllabsorbed by)
operations
28
150,398
1224.2631
Investing aetivities
Purchase of tangible fixed assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
{351,5091
{731,0351
734,786
115,261
{275,0001
{460,7841
372,543
107,706
Net cash used in investing activitios
1232,497)
1255,5351
Net cash used in financing activitigs
Net decrease in cash and cash equivalents
{82,099)
1479,7981
Cash and cash equivalents al beginning of year
247,714
727,512
Cash and cash equlvalent$ at gnd of year
165,615
247,714
Relating to-
Cash al bank and in hand
Cash held in investments
152,007
13,608
222,846
24,868
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts
for the year endod 31 Octobgr 2024
Accounting policies
Charity information
Diocese of Aberdeen and Orkney is a is a Charity registered in Scotland. The registered office is
University of Aberdeen, Marischal College, Broad Street, Aberdeen, AB10 1YS.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the
Charities and Trustee Investment IScolland} Act 2005, the Charities Accounts Iscodandl Regulations
2006 las amended), FRS 102 "The Financial ReF)Orting Standard applicable in the UK and Republic ol
Ireland" {"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Pracb'ce applicable to charities preparing their accounts in accordance with the Financial
Reporb'ng Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191.
The Charity is a Public Benefit Entity as defined by FRS 102.
The financial stalerTJents are prepa￿d In sterling, which is the function81 currency of the Charity.
Monetary 8mourils in these fin8ncAal statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention. The principal
accounting policies adopted are sel out below.
1.2 Going concgrn
The finaneial statements have been prepared on a going concern basis. The TrLTStees have considered
relevant inft)rm8lion, including the annual budget, forecast future cash flows and the impact of
subsequeftl events in making their assessmenl. The Trustees have also taken into consideration the
current economic climate in the UK, including the impact of inflation and higher interest rates. Forecast
future cash flows have been prepared 18king into account the future fvnding in place and the retums on
assets held.
Based on these assessments and having regard to the resources availablo lo the Charity, Ihe Trustees
have concluded Ihal there is no material uncertainty and that they can continue lo adopt Ihe going
concern basis in preparlng ihe annual report and financial statements.
1.3 Charitsble funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Restricted funds are subject lo speofic conditions by donors or grantors as to how they may be used.
The purFM)ses and uses of the reslricled funds are sel out in the notes to the financial statements.
1.4 Income
Income is recognised when the Charity is entitled to it after afty performance conditions have been met.
the amounts can be measured reliably, and il is it is more likely than not that the eeonomic benefits
associated with the incom8 will flow to the Charity.
Cash donations are recognised on receipt. Other donations and grants are recognised once the Charity
has been notified of the donation or grant, unless pèrformance conditions require deferral of the amount.
Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is
recognised al Ihe time of the donation.
Legacies are recognised on ￿CeIpt or otherwise if the Charity has been nottfied of an impending
distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is
treated as 8 contingent asset.
12-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Accountlng pollcies {contlnuedl
Quota income from Charges is rewgnised in line with the opening Income paragraph and is consistent
with section 5.8 of the Charities SORP IFRS 1021.
Income from interest and dividends is recognised when its receipt is probable and the amount receivable
can be measured reliably. Dividends are accrued when the DI0￿se.S right lo receive payment is
established.
1.5 Expenditure
Expenditure is accounted for on an accruals basis and includes irrecoverdble VAT where applicable.
Expenditure is recognised where there is 8 legal or constructive obligation lo make payments lo third
parties, it is probable that the setllemenl will be required, and the amoL¢nt of Ihe obligation can be
measured reliably.
Raising funds include amounts paid lo the Investrnenl Fund Managers for the management of the
investment portfolio.
Charitable expenditure comprises those costs incurred by the Diocese in the delivery of its activities
and services for ils beneficiaries. Grants payable are granls awarded from the various funds to
ChL¢￿heS and individuals as appropriate. Grants offered subject lo condib'ons which have not been met
al the year-end date are noled as a commitmenl but not accrued as expenditure.
Governance costs include those costs associated with meeb'ng the constitutional and slalutory
requirements of the Diocese. including independent examiner fees.
1.6 Tangible fix8d asséts
Tangible fixed assels are initially measured al cost and subsequently measured at cost or valuation, nel
of depreciation and any impairment losse5.
Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over
their usefLJI live5 on the following bases".
Freehold 18nd and buildings
Fixtures and fittings
No depreciation is applied as detailed below
10-200A stoight line
No depreciation has been provided against the book valuè of properties as in the opinion of the
Trustees, due lo the long useful economic lives of Ihe properties and their high residual values, any
depreoalion charge and resultant accumulated depreciation would be immalorial. In the opinion of the
Trusl88s, no impairment of the carrying values has occurred during the year.
The gain or loss arising on the disposal of an asset is delemined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies.
1.7 Flxed asset Investments
Fixed asset investments are inilally measured at Iransikn'on price excluding transacllon costs and are
subsequently measured al fair value at each reporting dale. Fair value is the market value al the
reporting date. Gains and losses on disFM)sal of investments and movement in market value of
investments are charged or credited to the Siatemenl of Financial Activities ISOFA}. Investments nol
listed on the Stock Exchange, SEC Units, are included at the year-end value prOV￿ed by SEC.
13-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Accountlng pollcies {contlnuedl
1.8 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets lo determine
whether there is any indication Ihal those assets have suffered an impairment loss. If any such indiulion
exists, the recoverable amount of the asset is estimated in order to determine the exlenl of the
impairment loss lif any).
1.9 Cash and cash equivalonts
C85h and Cash equivalents include cash in hand, deposits held 8t call with banks, cash held in
investment portfolios. and bank overdrafts.
1.10 Flnanclal Instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section
12 '01her Finanaal Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes paty to
the conlraclual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable righl lo sel off the recognised amounts and there is an intention to
setue on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which inclLJde debtors and rAsh and bank balances, are initially measured al
tr8ns8clion price including transaction costs and are subsequently carried 81 ttmortised cost using the
effective interest method unless the arrangement eonstitules a fin8nein9 transaction, where the
transaction is measured at the present value of the future receipts discounted al a market rale of
inte￿8t. Financial assets classified as receivable within one year are not amortlS8d.
Impalrment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are
impaired where there is objective evidence that. as a result of one or more events that occurred after the
initial rect)gnib'on of the finanoal asset, the esbmaled future cash flows have been affected.
Basic financial liabilities
Basic financial liabilities, including creditors are initially ￿CogniSed at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured èl the present
value of the future p8ym&nts discounted at a market r81e of interest. Financial liabilities classrfied as
payable within one year are not amortised.
Debt instruments are subsequently carried at amottsed c£sst. using the effective Interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in Ihe ordinary
course of operations from suppliers. Amounts payable are classified as current liabilities if payrnenl is
due within one year or less. IF not. they are presented as n0n.cur￿nt liabilities. Trade creditors are
recognised initially at transaction pri￿ and subsequently measured al amortised cost using the effective
interest method.
Derecognillon of financial liabilities
Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged
or cancelled.
14-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Accountlng pollcies {contlnuedl
1.11 Employee beneffts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services
are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably
committed lo lerminale the employment of an employee or lo provide termination benefits.
1.12 Retlrement beneflts
The Diocese contributes to a defined benefit pensions scheme, the SEC Pension Fund, which is
independently managed by the Pension Fund Trustees. The scheme is subject to formal actuarial
valu81ion on 8 triennial basis using the projected unil melhod. This scheme c£Jvers all seven Dioceses of
the Scottish Episcopal Church and The General Synod Offi￿. The assets and liabilities of any one
parb'cipant in the scheme cannot be identrfied separately. The provisions of FRS 102 allow employers
participating in such schemes lo treat Iheir pension disclosures as if the scheme were a defined
contribution scheme. This is the treatment which has been adopted by the Diocesan Trustees in these
statements. with Gontribution5 Gharged lo the Statement of FinanGial Activities of the Diocesan General
Fund bul no asset or liability appearing on the Balance Sheet.
Crltical accounting estlmates and Judgements
In the application of the Charity's acoounting policies, thg Trusi&QS are required to make judgements.
estimates and assumptions about Ihe carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associaled assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
estimates are ￿COgnised in the period in which the estimate is revised Whe￿ the rewsion affects only
that period, or in the penod of the revision and future periods where the revision 8ffects both current and
future periods.
Useful Ilfe of tan9lble flxed assets
Tangible fixed assets are depreciated over a period to reflect their estimated useful lives, incorporating
an estimate of their residual value_ The applicability of Ihe assumed lives is reviewed annually, taking
into account factors such as physical condition, maintenance and obsolescence. Fixed assets are also
8&8essed as to whether there are indicators of impairment and any changes to the residual value.
Investment$
Fixed asset investments are initially measured al transition price excluding Imnsaction Costs and a
subsequently measured al fair value at each reporting dale. Fair value is the market value at the
reporting dale and is obtained from the Charity's experienced investmenl managers for listed
investments based on quoted prices on the respective Stock Exchange. Investments not listed on the
Stock Exchange, SEC Units, are inclLHJed at the year-end value provided by SEC.
15-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
Grants
1,889
128,378
5,570
342,680
7.459
471,058
23,172
93,115
23,172
152.048
58,933
130,267
348,250
478,517
116,287
58,933
175,220
Grants
General Synod
DrAnderson's Trust
William Laurie
Benefacl Trust
Other grants
128,378
41,357
35,750
259,452
5,261
169,735
35.750
259.452
5,261
860
82,922
22,326
35,750
105,248
35.750
6,117
4,076
6,117
4.933
857
128,378
342,680
471.058
93,115
58,933
152,048
Incom0 from charltable actlvltlgs
2024
2023
Income from Charges - Quota
162,445
173,029
Analysis by fund
Unreslricled funds
162.445
173,029
Income from investment$
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Rental Income
Income from listed
investments
Interest re￿1vable
3,162
3,162
3,090
3,090
74,419
6,616
27,412
3,652
101,831
10,268
69,961
8,531
25,364
760
95.325
9,291
84,197
31,064
115,261
81,582
26,124
107,706
16-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Ex￿ndItUre on raising funds
Unrestricted
funds
2024
Unrestricted
funds
2023
Investment management
13,890
13.602
Exponditure on charilabla activitias
Charltable
activiti•s
Charitable
activities
2024
2023
Direct costs
staff wsts
Depreciation and impairment
Quota
Travel and subsisten
Accommodation
Postage, telephone and stationary
Rent, rates, council lax and Insurance
Repairs and renewals
Cathedr81, Dean, Primus and Synod expenses
Training and education expenses
Miscellaneous
Advertising
Conferences
246.300
480
73.574
17,132
4.612
182,785
398
74.229
12,753
8,237
- li
3,332
26.651
15,203
2.436
1,676
16,858
904
3,142
19,907
6,509
5,377
413
13,343
4,672
8.180
39,746
2,400
ICT
Legal expenses
Pastoral services
13.277
116,075
538.510
382,091
Grant funding of aelivities Isee note 81
111,924
93,082
Share of support and govemance costs1599 note 9)
Govemance
13,752
11,952
664,186
487,125
Analysi$ by fund
Unreslricled funds
Reslricled funds
532,466
131.720
391.626
95.499
664,186
487,125
17-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
Grants payable
Charltable
actlvltles
2024
Charitable
activities
2023
Grants to institutions:
All Sainys Buckle
St Andrew's Alford
St Clemenys Maslri¢k
St John's Aberdeen
St John's Portsoy
St Magnus Lerwick
st John's New Pilsligo
St Mary's Aberdeen
Other
5,420
7.282
9,500
54,902
9,462
4,533
7,845
4,000
65
13,927
9.462
8,162
9,301
14,195
21,520
4,359
14.018
109,476
88,477
Grants to individuals
4.605
111,924
93,082
Grants 8re m8de to charges. 3rd parties and individuals within the Scottish Episcop81 Church for
variety of purposes and to non-church boiyies. Where grants are made from restricted funds. these
are made in compliance with the restrictions plA￿d upon the use of such funds. The main grants
awarded by the Finance and Propety Committee relate to m8inlenance of church buildings.
Of the totsl amount of grants paid £22,86612023 £42,090) related lo the maintenance of church
buildings, £28,888 12023 £31,429I related to general mission purposes, £54,357 12023 £8,027)
related lo curacy, £2,143 12023 - £2,606) related lo training and education, and £3,670 12023
£8.9301 relaled lo travel.
Support co$t$ allocated to activities
2024
2023
Audit fees
13,7S2
11,952
Analysed botwgen:
Charitable activities
13,752
11,952
10 Net movement In funds
2024
ZOZ3
The net movement in funds is staled after chargingl{creditingl'.
Fees payable for Ihe audit of the Charity's financial statements
Deptsuation of owned tangible fixed assets
13.752
480
11.952
18-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
11 Trustees
Trustees, remuneration and benefits
During the CLJrrenl year, The Bishop Right Rev'd Anne C Dyer, received remuneration during the per￿d
in which she was a Trustee of £4,124 12023 £Nill and pension conlribulions of £885 12023 £Nill for
their services as Bishop, as permitted under the Diocesan Constitution.
During the current year, The Interim Bishop Right Rev'd Dorsey Mcconnell. received remuneration
during the period in which he was a Trustee of £38.01512023 - £Nill and pension contributions of £Nil
12023 - £Nill for their services as Interim Bishop. as permitted under the Diocesan Constitution.
Trustees. expenses
During the year five Trustees, the Bishop Right Revd Anne Dyer. Interim Bishop Right Rev'd lan Paton,
Interim Bishop Right Rev'd Dorsey Mcconnell, Rev'd Neil Brice. and Dr Martin Auld received
reimbursement of expenses amounting to £14,871 12023- five Trustees - £17,2721-
12 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Bishop
Administration
Total
Employmènt costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
190,226
14,368
41.706
138.691
7,886
36,208
246,300
182,785
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as folk>ws'.
2024
2023
Aggregate compensation
98,306
106,340
19-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
13 Gains and losses on inveslments
Unrgstricted Restricted
funds
funds
2024
2024
Total Unrestricted
funds
2023
Restricted
funds
2023
Total
2024
2023
RevaluatKsn of
investments
Sale of investments
316,661
59,728
161,702
478,363
59,728
160,3651
16,803
16,648
(43,7171
16.803
376,389
161,702
538.091
143.5621
16,648
126,914)
14 Taxation
The Charity is exempt from tsx81ion on its ackn'vities because 811 its income is applied for charitable
purposes.
15 Tanglble fixed assets
Freehold
Fixturès
land and and fittings
buildings
Total
Cost
At 1 November 2023
Additions
825.923
351,100
20,384
409
846,307
351,509
At 31 October 2024
1,177,023
20,793 1,197,816
D8pr•ciation and impairmènt
Al 1 November 2023
Depreciation charyed in the year
19,749
480
19,749
480
At 31 October 2024
20,229
20,229
Carrying amounl
At 31 October 2024
1.177.023
564 1,177,587
At 31 October 2023
825,923
635
826,558
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
16 Flxed asset investments
Listed
investments
Cash in
porffolio
Tolal
Cost or valuation
Al 1 November 2023
Additions
Valuab'on changes
Cash mov&ments
Dlsposals
3,230,840
731,035
478,363
24,868
3,255,708
731,035
478,363
111,260}
1675,058}
111,2601
1675,058)
At 31 October 2024
3.765.180
13.608
3,778,788
Carrylng amount
At 31 October 2024
3,765,180
13,608
3,778,788
At 31 October 2023
3,230,840
24,868
3,255,708
Investment Risks
FRS 102 requires the disclosure of information In relation to certain investment risks. These risks are set
out by FRS 102 as follows..
Credit risk.. this is the risk that one party to a financial instrument will cause 8 financial loss for the other
P8ty by f8iling to discharge an obligation.
Market risk.. this comprises currency Tisk. interest rale risk and other price risk.
Currency risk- this is the risk that the fair value or future cash flows of a finanoal asset will
flLlCtiiatp. hp.r3LJse of r.hangp.s in fore.ign exrhangp ratp.s
Interest rale risk.. this is the risk that the fair value or future cash l￿wS of a financial assel will
fluctuate because of changes in market interesl rates.
Other price risk.. this is the risk that the fair value or future c2sh flows of a financial asset will
fluctuat2 because of changes in market PrI￿S lolher than those arising from interest rale risk or
currency risk), whether those changes are caused by factors specific lo the individual financial
instrument or its issuer, or factors affecting all similar financial instruments traded in the market.
The Charity has exposure lo these risks because of the investments il makes lo impl8m8nl ils
investment strategy. The Trustees manage investment risks. including credit risk and mark&l risk, within
agreed risk limils which are set lakn'ng into account the Charity's strategic investment objectives. These
investment objectives and risk limits are implemented through the investment manager agreements in
place with the Charity's investment managers and monitored by the Trustees by regular reviews of the
investment portfolios, or in the case of SECUTS through the inveslment committee of the General Synod.
Further information on the Charity's approach to risk management and the exF)osure to credit and market
risks are set out below.
Credit Risk
The Charity invests directly in listed investments, as well as in pooled investment vehicles and is
therefore difectly exwsed lo credit risk in relation lo these listed instruments and is indirectly exposed to
credit risks arising on pooled investment vehicles.
Pooled investment arrangements used by the Charity comprise authorised uriil trusts.
21
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
16 Flxed asset Investments {¢ontlnued)
Currency risk
The Charity is subject to currency risk because some of the Charity's investments are held in oveTseas
markets.
Interest rate risk
The Charity is subject to interest rate risk through investments comprising bonds.
Other price risk
Other price risk arises principally in relation lo equities held. The Charity manages this exposu￿ to
other price risk by conslrucling a diverse portfolio of investrnents across various markets.
17 Debtors
2024
2023
Amounts fallin9 due within one year-
Trade debtors
Other debtors
Prepayments and accrued income
7,801
1.403
1,968
146,752
147.382
1,615
11,172
295,749
2024
2023
Amounts falllng due after more than one year:
Trade debtors
91,337
Total debtors
102,509
295,749
Trade debtors falling due after more Ihan one year represents amounts where the Diocese anticipate
that il is more probable that receipt of the outstanding balances will be greater Ihan one year.
18 Crgdltors: amounts falling due wlthin ono year
2024
2023
other taxation and social security
Other creditors
3,015
30,409
27,216
27,216
33,424
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
19 Retirement beneflt schemes
Dgfined benefit schemos
2024
2023
Charge to profit or loss in respect of d6fined benefit schemes
41.706
36,208
The Diocese contributes to a defined benefit pensions scheme, the SEC Pension Fund, which is
independently managed by the Pension Fund Trustees. The scheme is subject lo fomial actuarial
valuab'on on a triennial basis using the projected unil melhod. This scheme covers all seven Dioceses of
the Scottish Episcopal Church and The General Synod Offi￿. The assets and liabilities of ariy one
participant in the scheme cannot be identified separately. The provisions of FRS 102 allow employers
participating in such schemes lo treat their pension disclosures as if the schem8 were a defined
contribution scheme. This is the treatment which has been adopted by the Diocesan Trustees in these
statements. with contributions charged lo the Ststement of Financial Activities of the Diocesan Goneral
Fund bul no asset or liability appearing on the Balance Sheet.
The most recent actuarial valuation was at 31 December 2023. The results of the valuation indicated that
the position had deteriorated since 2020. the previous surplus of £5.6 million decreased lo a surplus of
£4.6 million. This Trustees of the SEC Pension Fund and the Provincial Standing Committee recommend
the contribution rale remains unchanged at 32.2%.
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Diocese of Aberdeen and Orkney
Notes to the financial statements {continued)
for the year ended 31 October 2024
20 Restricted funds
The restricted funds of the Charity comprise the unexpended balances of donations and grants held on trust subject to SPe￿fiC conditions by donors as to how
they may be used.
Al 1 November
2023
Incomlng
resources
Resources
expended
Transfer8 Galns and losses
At 31 October
2024
Bishop's Stipend
Browning Bursary
DrAnderson's Trust
Wllliam Laurie - Building & M8intenance
Fund
William L8urie - Missionary Fund
William Laurie - House Gift
Recovery & Renewal Fund
Rectory Green Fund
Curate Fund
Trusts & Olher
Lent Appeal
Benefact Trust
61,451
116.010
1,885
18,287
3,163
35.750
118,2871
(3.256)
{17,8551
12,312
18,660
73,763
134,577
19,780
1,969
683,076
1,969
720,440
351,100
(5,6601
(91,6481
91,648
(15,9501
15,950
32,571
112,029
259,452
22,592
(6,6421
12.1881
154,3571
110.202)
15,5701
(7.703)
13,762
21,786
7,402
5,570
5.261
90,240
18.701
112,141
20,952
18,510
983,223
379,314
1131,7201
53,523
161,702
1,446,042
-24-

Diocese of Aberdeen and Orkney
Notes to the financial statements {continued)
for the year ended 31 October 2024
20 Re$trlcted funds (contlnuodl
Previous year:
Al 1 November
2022
Incoming
resources
Resources
expended
Transfers Gains and losses
Al 31 October
2023
Bishop's Stipend
Browning Bursary
DrAnderson's Trust
William Laurie - Building & Maintenance
Fund
Vvilliam Laurie- Missionary Fund
Recovery & Renewal Fund
Curate Fund
Trusts & Olher
60,183
113,016
8,765
16.191
2,927
35.750
116,1911
11,8541
142,6301
1,268
1,921
61,451
116,010
1,885
11,270
660,792
28,512
{9,3011
{7,5821
15.9201
18,0271
(3,9941
1,969
683,076
22,592
18,332
11,534
4,992
6.865
3,035
91,444
1,925
96,240
973,982
85.057
195,4991
3,035
16,648
983,223
Bishop's Stipend
The fund exists lo support the funding of the Bishop's stipend and expenses.
Browning Bursary
The fund generates income in order lo fund training and education opportunities.
DrAnderson's Tru$t
The fund is to support the churches that are engaged in mission in challenging 8re8S, Wlth a priest resident-, churches going through 8 transition into 8 new
phase of life and mission, usually through the arrival of a new curate or priest-in-charge. with alleTrdanl, one-off costs,. or to invest in the development of new
ordained and lay ministries in the Diocese, including senior and strategic leadership.
Wllllam Laurie - Building & Maintenance Fund
The fund is to SLlPPOrt the repair of Sl John's Episcopal ChLtrch building at New Pilsligo.
-25-

Diocese of Aberdeen and Orkney
Notes to the financial statements {continued)
for the year ended 31 October 2024
20 Re$trlcted funds (contlnuodl
William Laurie - Missionary Fund
The fund is to support the mission and ministry in Buchan and its environs.
Wllllam Laurle- House Gfft
Mr William Ross Laurie made a gift of $350,000 to the diocese for the purchase of a rectory in Central Buchan. The rectory will be named "William Laurie
House" in recognitr'on of the Reverand William Laurie, William Ross Laurie and the Donor's intervening ancestor's of that name. Reverand William Laurie was
fomier Priest of St John's New Pitsligo.
Recovery & Renewal Fund
The fLJnding received frt)m Province 1$ to assist ttharges to recover from pandemic Trstrictions and renew commLJnily engagement.
Rectory Green Fund
Funding is available lo assist in improvin9 the energy efficSency and reduce the carbon footprlnt of rectories. The Rectory Green Fund fequires the Dwese lo
match fltnd the Provincial funding up lo £5,000 each.
Curate Fund
The fund is lo support the original curate Jennifer Holden in her position as curate al St John's, Aberdeen. In September 2023 a new curate, Godwin Deacon,
replaced ihis position.
Trust & Other
The fund gen8ral8d income which is used to relieve hardship and provide funds for specified charitable causes within the Diocese.
LentAppeal
The Bishop's LentAppeal in 2024 was for the benefit of Al Ahli hospital via The Jerusalem and the Middle East Church Association. The Al Ahli Hospital in Gaza,
owned and sacrificially supported over many years by the Episcopal (Anglican) Diocese of Jerusalem, conb'nues to serve the who,'e 'family' IAhll of human
beings in G8za. 11 provides a vit81 seNice in an increasingly desperate situation. The hospitsl is committed lo providing 2417 health services for all people in
need of medical care.
Benefact Trust
The Beftefact Trusl provides the Diocese a recurrent grant each year to assist in a submitted projecl proposal. The funtjs received in 2024 have been provitjed
to create clergy recruilmenl materials that will be used by the Diocese as a while and can be used by individual congregations when wriling congregational
profiles and recruiting for posts.
-26-

Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
21 Unrestricted funds
The Ltnreslricled funds of the Charity cx)mprise the unexpended balances of donalions and grants which
are not subject lo specific conditions by donors and grantors as lo how they may be used.
At 1 Incomlng R•sour¢e$
November ro$ource$
expended
2023
Transfers Gains and
losses
A¢31
October
2024
General funds
3,584,214
376.909
{546.356) (53.5231
376.389 3,737,633
Previous year:
At1
November
2022
Incoming Resources
resources
expended
Transfers
Gains and
losses
A131
October
2023
General funds
3,665,141
370,898
1405,2281
13,0351
(43,562} 3,584,214
Transfers between funds
Transfers are made each year when projects come to an end and there is a closing net incomel
lexpendilurel, or to align expenditure to the correct fund.
22 Analysis of net assets between funds
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total
2024
At 31 October 2024:
Tangible assets
Investments
CLsrrenl assetsl(liabilitsesl
826,487
2.809,998
101,148
351,100
968,790
126.152
1,177,587
3,778,788
227,300
3,737,633
1,446.042
5,183,675
Unreslricled
funds
2023
Restricted
funds
2023
Total
2023
At 31 Octob8r 2023:
Tangible assets
Investments
Current assetsllliabilitiesl
826,558
2,448,621
309,035
826.558
3,255,708
485,171
807,087
176,136
3,584,214
983,223
4,567,437
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Dlocese of Aberdeen and Orkney
Notos lo thg financial ststements (Gontinued)
for the year ended 31 October 2024
23 Continggnt liabilitiÈs
The Diocese is the guarantor for any loans made by the Provincol Office of the Scottish Episcop81
Church to charges within the Di0￿se. Al 31 October 2024 there were no loans to charges from the
prOMn￿.
24 Contingènt asséts
The Diocese has entered Into 8 9rant undert£king, up to Ihe value of £30,000. with St Mary's Epis(xJpal
Church, Auchindoir. Certain eonditlons exist whereupon this 9rant may b& ￿payable to the Dioc&%e.' if
St Mèry's sells or otherwise transfers ownership of the Rectory it shall repay the grant to the DI0￿Se
th a premium calculated at a rate of 5°A of the grant being made, compounded annually. If St Marls
rents out the Rectory as a private dwellirng house after 1 January 2013, it shall pay 15Yv of such rert to
the Diocese. These conditions are subject to fLtture events out with the control of the Diocese and as
such a debtor has not r8Gognised in the financial statements.
25 Operaknng lease commitments
Lessee
Al the rerK)rbng end dale the Charity h2d outstanding commitsnents for future minimum lease payments
under rnon-cancellable operating leases, which f811 due as follows..
2Q24
2023
Wilhin onè yèar
Be￿eern and five years
7,17S
20,350
7.175
27.525
27,525
34.700
26 Ralated party transactlons
During the Feriod in whic
as a Trustee, the Diocese incurred f8es of £31,332
{2023 - £114,714) from Ledingham Chalmers LLP. Solicitors, in which
s a partner.
Grants and support of £169.735 {2023 - £105,248) were received tsy the Dlocese from The
General Synod of the Scoltish Episcopal Church during Ehe year, and q(￿la of £73,574 12022
£74,229) was paid lo The Generdl Synod ol the Scortish Episcopal Church.
Tho followin9 Char90- undor tho DiocoDO woro doomod to bo rolatod partio- for ¢Jisclo4¥ufts at
there was believed to be sigTrificant influence through common Truslees or TTLislees and those
related to them:
St ThomaÉ Church, Aboyna praid quokn of £3,346 19093 £4,498) to tha Dioc&sè, and recaivad
grdnts from thè Dioeèse of £2.02012023- 12,020).
All Saints Episcopal Church Buckle paid quota of £2,270 12023 - £2.320) lo the Dioces8, and
received grants from the Dioces8 of £5,42012023 - £7,845).
Church Of St John Bap115t Portsoy paid quota of £189 12023 £2091 to the Dioces8, and
receiv&1 grants from the Diocesè of £9,462 {2023 - £9,462).
.26-
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Dlocese of Aberdeen and Orkney
NotOS to the flnancial statgmgnts (Continued)
for the year endod 31 Octobgr 2024
27 Ultimale controlling party
The Diocese of Aberdeen and Orkney is a constituent part of the Scottish Episcopal Church and,
as such, operates within the framework or regulation (the Canons of the Scollish Episcopal
Church} passed by the General Synod. Within this framework Ihe Diocese has a completely
independent decision-making process.
28 Cash generated from operations
2024
2023
Surpluslldefiull for the year
616.238
171.686)
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depreuation and impairment of tsn9ible fixed assets
(11 5.2611
159,7281
(478.3631
4BO
1107.7061
116,8031
43,717
398
Movements in worklng capital..
Decreasellincreasel in debtors
(Decrease) in creditors
193,240
(6.208)
{65,037)
17,146)
Cash generated froml(absorbèd by) operations
150,398
1224,2631
29 Analysls of changes In net funds
The Charity had no material debt during Ihe year.
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