Charity registration number SC022180 (Scotlandl
Diocese ofAberdeon and Orknoy
Annual report and financial statements
forthe year ended 31 October 2025
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Dlocese of Aberdeen and Orkney
Legal and admlnlstratlvo Informatlon
Trustees
Right Re¢d Anne C Dyer {Ex-officio: Bishop
Mrs Margaret Hodder (Elected by Synod..
Honorary Diocesan Treasurer)
Dr Lizzie Finlayson (Ex-officio.. Honorary
Diocesan Secretary)
Very Revd Dr Jennifer Holden {Ex-officio'. Dean) (Appointed 21 July 20251
Dr Julia House (Elected by Synod)
Mr David R Crosley (Elected by Synod)
Mr Brian Harris (Elected by Synod)
Mr lain Fraser (Elected by Synod)
(Appointed 1 March 20251
(Appointed 1 March 20251
IAppointed 30 March 2026
(Appointed 6 March 20261
Charity number (Scotland) SC022180
Reglstered offlce
Diocese of Aberdeen and Orkney Diocesan Centre
66 Carden Place
Aberdeen
A610 1UL
Audltor
Henderson Loggie LLP
The Stamp Office
Level 5
10 - 14 Waterloo Place
Edinburgh
EH13EG
Bankers
Virgin Money
62 Union Street
Aberdeen
AB10 1WD
Solicltors
Ledingham Chalmers
Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA
Investment advisors
Brewin Dolphin
23 Rubislaw Terrace
Aberdeen
AB10 1XE
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Dlocese of Aberdeen and Orkney
Contents
Page
Trustees, report
Statement of Trustees. responsibilities
Independent auditorfs report
Statement of financial activities
Balance sheel
10
Statement of cash flows
11
Notes to the financial statements
12-31
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Dlocese of Aberdeen and Orkney
Trust99s' roport
for tho year ondad 31 Octobar2025
The Trustees present their annual report and financial statements for the year ended 31 Octobèr 2025.
The financial statements have been prepared in accordance with Ihe accounling policies sel out in note 1 10
Ihe financial stalements and comply with the Diocesan Constitution, the Lharities an(J Trustee Investment
Iscotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006 las amendedl and "Accounting and
Reporting by Charities.. Statement of Recommended Practice 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.
Objectivès and activities
The aim of the Diocese is lo provide leadership, encouragement, guidance, training and counsel to clèrgy and
congregations lo enable them lo maximise the effectiveness of their mission lo their local communities
through participation in Christian worship and provision of pastoral support. The Diocese's formal objective, as
approved by the Office of the Scottish Charity Regulator (OSCRI, is "the advancement of religion..
The main financial activities of the Diocese throughout the year were the SLJPPOrt of Charges (churches and
congregalionsl by stipend support and other grants from the Province and the Diocese, the provision of
financial agsistancè to clèrgy arbd Isy pargong for thèir training and dèvèlopmènt, and thè pur¥usncè of
mission projects in areas of growth potential.
Achievements and performance
The Rl Revd Anne Dyer returned lo off1ce on 8 October 2024, and continues in post. The Rl Revd lan Paton,
Bishop of St Andrews, Dunkeld and Dunblane acted as Commissary for the bishop from 8 October 2024
through to 31 January 2025.
The year included the appointment of a Dean, the Very Revd Dr Jennifer Holden, in July 2025. Dr Holden
continued as Advisor for Christian Life. leading a programme through 2025 on the Nicene Creed ICREDOI.
The Bishop and Dean SUPF)Orted a number of Charges in vacancy as they prepared mission statements and
person specifications for the recruitment of priests.
The Nel Zero project continued through provincial support lo all Charges, with dedicated resource for projects
designated pioneers or pilots in the scheme supported by the Benefact Trust.
At a joint meeting of the Diocesan Standing Committee and Ihe Finance and Property Board held on May
2025, it was suggesled that the Diocese consider purchasing a property instead of continuing to lease offices
Ihrough th8 University of Aberdeen, as the present situation was hampering the work of the Diocesan
Officials. This was passed to F&P for further consideration on Ihe 15 May, when il vvas agreed in principle lo
acquire offices subject to cost and other considerab'ons.
A suitable property, 66 Carden Place, Aberdeen, was found, and the ￿qUISite negotiations wefft concluded on
3rd October, when the propety purchase was (x)ncluded. The office moved into the property at the beginning
of December 2025 and the diocesan Centre was formally opened on 30 January 2026.
Going foM8rd the lower ground floor of the property will be used for meeb.ngs and social events. with a small
worship space incorporated. The Diocesan Offices are situated on the ground floor, and the first fk)or will be
18t lo a suitable lenanl in order to offset the day lo day running costs of the building.
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Dlocese of Aberdeen and Orkney
Trust99s' roport Icontlnugdl
for tho year ondad 31 Octobar2025
Flnanclal revlew
The results for the Diocgse before gains and losses on the Diocesan investment portfolio is a deficit of
£243.638 12024 surplus of £78.1471, which comprises a deficit of £239,993 12024 deficit of £169,447) on
unresirlcied funds and a deflcli of £3,64512024 surplus of £247,594) on restrlcted funds. The Dlocese closlng
cash position has fallen in 2025 to £85,29812024 - £152,007> following the current year deficit. Quota income
constitutes a significant inflow of cash and the Diocese has experienced a reduction in the amounts received
in recent years as certain Charges have not met their payments and are now in arrears. Payment of QLK)la is
regulated in accordance wilh the Digest of Resolutions, Resolution 7.5.2. However lo manage cash prior to
recovery of these amounts, the decision was made lo liquidate elemenls of the investments held. The prior
year's significant surplus arose in the largest part from a grant from Mr William Laurie, and the Diocese is
grateful for his generosity. This grant was to SLJPPOrt the the purchase of a rectory in Central Buchan.
The Diocese is also fortunate in having the support of the Dr John Anderson Trust, to which application can be
made for assistance with a specific project or objective, and without whose help such activities might have lo
be curtailed, delayed or abandoned. The fund is administered by a firm of Solicitors in Aberdeen and whose
income is derived from agricultural land in the Cruden Bay area. In the year lo 31 October 2025, the Diocese
received a grant of £37,75012024 - £37,750) for a variety of inilialives including stipend support and training.
The Diocese is also grateful for support from the Benefact Trust, the umbrella chari18ble organis8tion which
derives its ineome from the Ecclesiastical Insuranee Group, which gave a grant in the current year of £4,419
12024 - £5,261) to support the Christian Lrfe project for the Diocese in 2026.. While creation wails.. A Christian
exploration of Environmental issues.
As 8131 October 2025 the total funds of the Diocese amounted to £5,266,445 {2024 £5,183,675), which
comprises unrestricted funds of £3,701,646 12024 £3,737,633) and restricted funds of £1,564,799 (2024
£1,446,042).
ReseThes policy
11 is the policy of the Diocese to maintain unrestricted reserves al a level sufficient lo meet planned
expenditure requirem&nts for the next year. Based on the core budget including Provincial quota, this amounts
to £620,000. The Diocese has traditionally monitored the portion of unrestricted fund balance arising from
accumulated surpluses and unrealised gains or losses on investments. The Trustees will keep its reserves
policy under review going forward bul are comfortable al this lime, sufficient unreslricled reserves are held.
Funds
The Diocesan Fund {incorporating the Cruickshank and Gordon Funds)
The Cruickshank Fund was inaugurated 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 to the Diocese without any
conditions attached. The Gordon Fund came lo the Dioeese in 1990 as a bequest from the late Colonel FW
Gordon with no stipulations 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 DI0￿Se benefits from funding left to the Diocese for spectfic purposes as prescribed by the donor. The
main ongoing restricted fiind is thp William Laurie Fiind which consists of Ihree è18m8nts being thp BLiilding &
Maintsnance Fund. the Missionary Fund, and Ihe House Gift.
Investmentpolicy
Following a review of its investment portfolio which concluded in 2022, the Diocese agreed lo gradually
reinvest funds into the ScL>llish Episcopal Church Unil Trust ISECUTI pool, in order lo move towards
consistency with Ihe ethical investment policy adopted by General Synod in June 2022.
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Dlocese of Aberdeen and Orkney
Trust99s' roport Icontlnugdl
for tho year ondad 31 Octobar2025
Major risks
The Trustees keep the major slralegic, business and opgrational risks which the Diocese faces under review
and can confirm that systems are established lo enable regular reports lo be produces so that the n￿esSary
steps can be taken io lessen these rlsks. The trustees Iniend to strengrhen and formallse these systems. The
Diocesan Risk Register has been developed, in draft, to reflect recommendations made by Ihe Province as lo
the formal and content of Diocesan Risk Registers.
Plans for future perlods
The Diocese will continue with its currer)l activities at present. Strategic aims include supportirKJ Charges as
they fill clerical vacancies, developing and deepening Chrislian Life through annual programmes12025 Nicene
Creed. 2026 Celebrating crealionl and extending involvement in the Provincial Nel Zero programme.
Structure* governanco and managamant
The Diocese of Aberdeen and Ihe Diocese of Orkney were incorporated by long usage inlo the Scoth'sh
Episcopal Church in 1690 and became united in 1865 under the name, style and lille of the United Diocese of
Aberdeen and Orkney.
Tlie 'p£irent" oryiifiibdtion of Ilie DI0￿Se of Aberdeeii dnd Orkney is Ttrie Geiieral Syriod of Ilie Swtti&li
Episcopal Church. There are seven Diotsses of the Scottish Episcopal Church. The General Synod and the
seven Dioceses are separate registered charities.
The Diocese of Aberdeen and Ofkney (Yhe Diocese") is constituted under, and governed by, the Canons of
the Scottish Episcopal Church. The day-lo-day operation of the Diocese has been conducted under the
current Governing Regulations lof the Synod of the United Diocese of Aberdeen and Orkneyl since 16
October 2016, when Ihg Conslilulion of the Synod of the Diocese of 2012 was repealed and the new
document proposgd, seconded and passed. The Governing Regulations were approvgd, confirmed and
ratified by the Bishop on 18 October 2016. For convenience, they are referred to as "The Diocesan
Constitution 2016"
The Trustees who served during the year and up to the date of signature of the financial stslements were..
Right RÈv'd Anne C Dyer (Ex-officio.. Bishop)
Mrs Margaret Hodder {Elected by Synod-.
Honorary Diocesan Treasurer)
Dr Lizzie Finlayson (Ex-officio.. Honorary Diocesan
Secrelaryl
Very Revd Dr Jennifer Holden (Ex-officio.. Dean) (Appointed 21 July 20251
Dr Julia House (Elected by Synod)
Rev'd Brenda Dowie (Elected by Synod)
(Resigned 20 February 20251
Rev'd Canon Vittoria Hancock (Elected by Synod) (Resigned 8 December 20241
Dr Marlin Auld {Elecled by Synod)
(Resigned 16 August 2025}
Prof Ferdinand Von Prondzynski (Elected by
(Appointed 1 March 2025 and resigned 31 October 20251
Synod)
Mr David R Crosley (Elected by Synod)
Dr Lorraine Paisey
Rev'd Canon Lynsay Braybrooke (Ex-officiol
Mr Brian Harris (Elected by Synod)
Mr lain Fraser (Elected by Synod)
(Appointed 1 March 20251
(Appointed 1 March 20251
IResign&d 1 March 20251
(Appointed 1 March 2025 and resigned 5 June 20261
(Appointed 30 March 20261
(Appointed 6 March 20261
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Dlocese of Aberdeen and Orkney
Trust99s' roport Icontlnugdl
for tho year ondad 31 Octobar2025
Recruitment and appointment oftrustees
The Diocese Constitution, last updated in 2016. confirms the Standing Committee are Ihe Diocese's Charity
Trustees. The Constitution sets out that the Standing Committee is comprised of the Bishop. the Dean, the
Regisirar, the Honorary Treasurer and the Honorary DI0￿san Secretary all ex-off clos,. Ihe convenors of the
pendant boards of the Standing Committee,. and five members elected by Synod. The Stsnding Committee
may also co-opt additional members to fill vacancies.
Organisational structure
The Finance and Propety Board {F&PI has responsibility for the general admir)istration of the Diocesan
finances. A representative of the Diocesan Mission Board should sil on F&P, to ensure that Ihe Mo main
Boards of the Diocese are involved in financial decisions. The day-lo-day financial records are usually
maintsined by the Assistant Treasurer. During a period of illness in 2025 external support has begn ulilised.
Induction and training of trustees
The Charity Trustees have confidence in the experience and ability of the Trustees to administer the activities
of the Diocese. Induction and training will be considered on an ongoing basis, parb'cularly in the event of a
new Trustee being elected or appoinl2d.
Dixclosurè of information to audltor
Each ol the Trustees has confirmed that there is no inlormalion of which they are aware which is ￿levant lo
the audit, but of which the 8udilor is unaware. They have further confirmed that they have taken appropriate
steps to id8ntrfy such ￿levant inforrnalion and to establish that Ihe auditor aware of such infom81ion.
The Trustee$, report was opproved by the Board of Trustees.
| Mewgwe+ Httdd
dlqdfEI
Jakb UO DU 0? UTC
I1ui* ¥in&ysyft LUlb-U6 lJ8,
Mrs Margaret Hoddef IElected by Synod., Honorary Dioc*san
Treasurer)
Tru5toe
Dr Lizzie Finlayson (Ex-off cio,. Honornry
Diocesan Secretary}
Truste•
Dale..
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Dlocese of Aberdeen and Orkney
Statement of Trustoos. responsibilitles
for tho year ondad 31 Octobar2025
The Trustees are responsible for preparing the Trustees. ReFK)rt and the financial statemènts in a(￿Ordan
with applicable law and United Kingdom Accounting Standards IUr)iled Kingdom Generally Accepted
Accounting Praclicel.
The law applicable lo charities in Scotland requires the Trustees lo prepare financial slalemenls 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 financial statements, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP 2019 IFRS 1021.
make judgements and estimates that are reasonable and prudent.,
slate whether applicable accounting standards have been followed,. and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that
the ch8rity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy
at any time the financial position of the Charity and enable them to ensure that the financial stat￿nentS
comply with the Charities and Trustee Investment Iscotlandl Act 2005, the Charities Accounts (Scollandl
Regulations 20061as amended) and the provisions of the Charity's constilulion. They are also responsible for
safeguarding the assels of th8 Charity and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
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Dlocese of Aberdeen and Orkney
Independont audltorfs report
to the Trustoas of Diocesa of Abardeon and Orknoy
Opinlon
We have audited the financial statements of Diocese of Aberdeen and Orkney Ilhe 'Charily ) for the year
ended 31 October 2025 which comprise the statement of financial activities, the balance sheet, the statement
of cash flows and notes to the financi81 statements, including significant accounting policies. The financial
reporhng fr8mework th81 has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Fin8ncial Reporting Standard
applicable in the UK and R&public of I￿land (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the stsle of the Charity's affairs as at 31 October 2025, and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice- and
have been prepared in accordance with the requirements of the Charities and Trustee Investment
Iscollandl Act 2005 and regulation 8 of the Charities Accounts (Scotlandl Regulations 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditorfs ￿spOnSIbl111{es
for the audit of the financial statements section of our report. We are independent of the Charity in accordance
with the ethical reqLJiremenls that are relevant to OLJr 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 believ2 that the audit eviden￿ we have obtained is sufficient and appropriate lo provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial slalements is appropriate.
Based on the work w2 have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast signrficant doubt on the Charity's ability to continue as a
going GonGern for a period of at least twelve tnonlhs frotn when Ihe finanGial statetnents are aUthori￿d for
issue.
Our responsibilities and the responsibilities of the Trustees with respect to goir)g (x)ncern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual report other Ihan the financial
stslemenls and our auditor's report Ihereon. The Trustees are responsible for Ihe other information contained
within the annual report. Our opinion on the financial statements does not cover the other informalDn and we
do not express any form of assurance conclusion thereon. Our ￿ sponsibility is to ￿ ad the other information
and, in doing so, consider whether the other information is materially inconsistent with Ihe financial statements
or our knowledge oblained in the course of the audil. or otherwise appears to be malerially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required lo determine
whether this givés risè to a material misstatement in the financial statement> thèmselves. Ir. based on the
work we have performed, we conclude that there is a material misslalemenl of this other information, we are
required to report that fact.
We have nothing to report in this regard.
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Dlocese of Aberdeen and Orkney
Independont audltorfs report Icontlnuod}
to the Trustoas of Diocesa of Abardeon and Orknoy
Matters on whlch we are requlred to report by exceptlon
We have nothing lo report in respect of the following matters in relation lo which the Charities Accounts
(Scotlandl Regulations 2006 requires us to report to you if, in our opinion=
the Information given in the financial siaiements is inconsistent In any maieriai respect with the
Trustees, report., or
proper accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records., or
we have nol re￿iVed all the informab'on and explanations we require for our audit.
Responsibilities of Trusteas
As explained more fully in the Trustees, Responsibilities Statement, the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial ststemenls that are fr&e 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 COn￿rn, disclosing, as applicable, matters related lo going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease cperalions,
or have no realistic alt&malive bul to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 4411 Ilcl of the Charities and Trustee Investment Iscollandl
Acl 2005 and report in accordance with the Act and relevant regulations made or having effect Ihereunder.
Our objectives are to obtsin ￿asOnable assurance about whether the financial statements as a whole are free
from materi81 misstslement, whether due lo fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists_ Misstatements C3n ari
from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be
expected lo influer)ce the economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud. are instances of non-compliance with laws and regulalions. We design
procedures in line with our responsibilities. outlined above, lo detecl material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud, is detailed below..
As part of our planning process..
We enquired of management the systems and controls the Charity has in place, 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 th81 there were no instances ol
known, suspected or alleged fraud-,
We obtained an understanding of the leg818nd ￿gUlatOry frameworks applicable to the Charity. We
determined th81 the following were most relevant-. compliance with the Code of Canons,. Healthy and
safety, OSCR requirements, Dats Protection Act 2018, employment law (including payroll and pension
regulakn'onsl, and compliance with the Diocesan Constitution, the Charities and Trustee Investments
Iscollandl Act 2005 and the Charities Accounts (Scollandl Regulations 2006.
We considered Ihe incentives and opportunities that exist in Ihe Charity, including the extent ol
management bias, which present a potential for irregularities and fraud to be perpetrated, and tailored
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 conclusion on the risk of misstalemenl due to irregularities including
fraud and tailored our procedLJres according to Ihis risk assessment.
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Dlocese of Aberdeen and Orkney
Independont audltorfs report Icontlnuod}
to the Trustoas of Diocesa of Abardeon and Orknoy
The key procedures we undertook lo delecl irregularities including fraud during the course of the audit
included:
Inquiry of management about ar)y known or suspected instances of non-compliance with laws and
regulations and fraud",
Reviewing minutes of those charged with governance.,
Reviewing the Charity's policies and procedures in relalion to health and safety, employmenl law and
data proleclion.,
Reviewing legal and professional expenditure incurred in the year.,
Reviewing news articles and press releases.,
Challenging assumptions and judgements madè by Trustees in their application of the Charity's
accounting estimates, in particular in relatior) to the carrying value of tangible fixed assets and
investmenls, provisions in relation to bad debts, and the application of accruals,. and
Auditing the risk of management override of controls, including through testing journal entries and
other adjustments for appropriateness, and evaluating the business rationale of significant
transactions outside the normal course of business.
Owing lo the inherent limitstions of an audil, there is an unavoidable risk that some material misstalements in
the financial statements may not be detected. even though the audit is properly planned and performed in
accordan￿ with Ihe ISAS IUKI. For instance. the further removed non-(x)mpliance is from the evenls and
transactions reflected in the financial stalements, the less likely the auditor is lo become aware of it or to
recognise the non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The
primary responsibility for the prevention ar)d detection of irregularities and fraud rests with the Trustees.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklaudilorsresponsibilities. This description forms part of our audilorfs report.
Use of our report
This report is made solely lo the Charity's Trustees, as a body, in accordance with regulation 10 of the
Charities Accounts Iscollandl Regulations 2006. Our audit work has been undertaken so that we might slate
lo Ihe Charity's Trustees those matters we are required lo stale lo them in an auditorfs report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume ffsponsibility lo anyone other
than the Charity and the Charity's Trustees as a body, for our audit work. for this report, or for Ihe opinions we
have formed.
L LLP
Macphet50n
2026-06-
51.34 UTC
Henderson Loggie LLP (Senior Statutory Auditor)
For and on behalf of Henderson Loggie LLP, Statutory Audltor
Chartered Accounl8nts
The Stamp Office
Level 5
10 - 14 Waterloo Place
Edinburgh
EH1 3EG
Dale..
Henderson Loggie LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for
apwinlment as auditor of a company under section 1212 of the Companies Act 2006.
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Dlocese of Aberdeen and Orkney
Statement of financial activtias
Including income and expenditure
for the year ended 31 October2025
Unrastrictod Rostrictad
funds
funds
2025
2025
Total Unrestricted Restricled
funds
funds
2024
2024
Total
2025
2024
Notes
Income from:
Donations and
legacies
Charitable activities
Investments
79,967
100.789
73,711
83,354
163,321
100,789
109,650
130,267
162,445
84,197
348,250
478,517
162,445
115,261
35,939
31,064
Total incom•
254.467
119,293
373,760
376,909
379,314
756,223
Expendlture on:
Raising funds
Charitable activities
14,057
480,403
14,057
603,341
13,890
532,466
13,890
664,186
122,938
131,720
Total expenditurè
494.460
122,938
617,398
546,356
131,720
678,076
Nel gainslllossesl on
investments
12
231,173
95,235
326,408
376,389
161.702
538,091
Net in¢omellexpenditurel
18,8201
91,590
82,770
206,942
409,296
616,238
Transfers between
funds
127,1671
27,167
(53,5231
53,523
Net movement in
funds
(35.9871
118,757
82,770
153,419
462,819
616,238
Reconciliation of funds-
Fund balances at 1
November 2024
3,737.633 1.446,042 5,183,675
3,584,214
983,223 4.567,437
Fund balances at 31
October 2025
3,701,646 1,564,799 5,266,445
3,737,633 1,446,042 5,183,675
The ststemenl of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing 8Ctivities.
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Dlocese of Aberdeen and Orkney
Balance Sheot
as at 31 October 2025
2025
2024
Notes
Flxed assets
Tangible assets
Investments
14
15
1,531,956
3,589.912
1,177,587
3,778,788
5,121,868
4,956,375
Current assets
Debtors falling due after one year
Debtors falling due within one year
Cash at bank and in hand
16
16
29,159
75,517
85,298
91,337
11,172
152,OD7
189,974
254,516
Creditors.. amounts falling due withi
one year
{45,397}
{27,216
Net current assets
144,57T
227,300
Total assets less current Ilabllltles
5,266.445
5,183,675
The funds of the Charlty
Reslricled income funds
Unreslricled funds
19
20
1,564,799
3,701.646
1,446,042
3,737,633
5,266,445
5,183,675
The financial ststemenls were approved by the Trustees on
dYtsI Ilodd¥r
2026-06-09. 00 46 07 UTC
ine Fivlay50
EOEb-06-08,
007 16UTC
Mrs Margaret Hc%lder {Electgd by Synod..
Honorary Diocesan Treasurer)
Trustee
Dr Lizzie Finlayson IEx-officio= Honorary Diocesan
Secretary)
Trustee
10
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Dlocese of Aberdeen and Orkney
Statement of cash flows
for tho year ondad 25 Octobar 2025
2025
2024
Notes
Cash flows from operating activities
Cash labsorbed byygenerated from
operations
27
{336.969)
150,398
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
1354,674}
1525,027}
1,039,280
109,650
1351,5091
1731,0351
734,786
115,261
Net cash generated fromllused inl
investin9 activities
269.229
1232,4971
Net Gash used In flnanGln9 aGtlvStles
Net decrease in cash and cash equivalents
167.740)
182,099)
Cash and cash equivalents al beginning of year
165.615
247,714
Cash and cash èquivalènts at ènd of yèar
97,875
165,615
Relatlng to:
Cash at bank and in hand
Cash held in investments
85,298
12.577
152,007
13,608
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements
for tho year ondad 31 Octobar2025
Accountlng pollcles
Charlty Infomiallon
Diocese of Aberdeen and Orkney is a is a Charity registered in Scotland. The registered office is
Diocese ofAberdeen and Orkney Diocesan Centre, 66 Carden Place, Aberdeen, AB10 1 UL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the
Charities and Trustee Inveslment IScolland} Act 2005, the Charities Accounts Iscotlandl Regulations
2006 las amended), FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol
Ireland" {"FRS 102") and the Charities SORP Accounting and Reporting by Charities.. Slalemenl of
Recommended Prath'ce applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leff8Ctive 1 January 20191.
The Charity is a Public Benefit Entity as d8fined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal
accounting policies adopted are set out below.
1.2 Going concern
The financial slatements have been prepared on a going concern basis. The Truslees have considered
relevant information, including the annual budget, forecast future cash flows and the impact of
subs8quenl events in making their assessment. 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 taking into account the future funding in place and the returns on
a&8els held.
Based on these assessments and having ￿gard lo the resources available to the Charity, the Trustees
have concluded that there is no material uncertainly and that they can continue lo adopt the going
COIILerri bdbib iii yrEF)driiiy the (Iiiriual report iiritj fiiiaiiLidl btdleirienlb.
1.3 Charitsble funds
Unrestricted funds a￿ available for use 8t the discretion of the Trustees in furtherance of their charitable
objectives.
Reslricled funds are subjèct lo specific conditions by donors or grantors as to how they may be used.
The purposes and uses of the reslricled funds are sel out in the notes lo the financial slalements.
1.4 Income
Income is recognised when the Charity is entitled lo it after any perfomance conditions have been met,
the amounts can be measured reliably, and il is il is more likely than not that the economic benefits
associated with the income will flow to the Charity.
Cash donations are recognised on receipt. Other donations and grants are recognised once the Charity
has been notified of th8 donation or grant, unless performance conditions require deferral of the 8mount.
Inwme tax recoverable in relation to donations re￿iVed 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 notified of an impending
distribution, the amount is known, and ￿ceipt is expected. If the amount is not known, the legacy is
treated as a contingent asset.
12
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Accounting policies {continuadl
Quota income from Charges is recognised in line with the opening Income paragraph and is consistent
with section 5.8 of the Charities SORP IFRS 1021, taking into account the enlillement established under
the Code of Canons.
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 Diocese's right to receive payment is
established.
1.5 Expenditure
Expenditure is accounted for on 8n accruals b8SIS and indudes Irrecoverable VAT where applicable.
Expenditure is recognised where there Is a legal or constructive obligation lo make payments to third
parties, it is probable that the setUemer)I will be required, and the amount of the obligation can
measured ￿lIablY.
Raising funds include amounts paid lo the Investment Fund Managers for the management of the
investment portfolio.
Charitsble expenditure comprises those costs incurred by the Diocese in the delivery of its activities
and services for Ils beneficiaries. Grants payable are grants 8W8rded from the various funds lo
churches and individuals as appropriate. Grants offered subject to conditions which have not been mel
al the year-end date are noled as a commilmenl but not accrued as expenditure.
Governance costs include those costs associated with meeting the conslitulional and statutory
requirements of the Diocese, including independenl examiner fees.
1.6 Tanglblg flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impaiment losses.
Depffjciation is recognised so as to write off the cost or ValUat￿n of assets less their residual values over
their useful lives on Ihe following bases..
Freehold land and buildings
Fixtures and fittings
No depreciation is applied as detailed below
200/0 Straight line
No depreciats'on has been provided against the book value of properties as in the opinion of the
Trustees, due lo the long useful economic lives of the properties and their high residual values, any
depreoalion charge and resultant accumulated depreciation would be immaterial. In the opinion of ltr
Trustees, no impairment of the carrying values has occurred during the year.
The gain or loss arising on the disposal of an asset is determined as the difference be￿￿een the sale
proceeds and the Ggrrying valLJe of the asset, and is recognised in the ststemenl of financial activities.
1.7 Flxed asset Investments
Fixed asset investments a￿ Initially measured at transition price excluding transaction costs and are
subsequently measured 81 fair value at each reporting date. Fair value is the market value 81 the
reporting date. Gains and losses on disposal of investments and movement in market value of
investments are charged or credited lo the Statement of Financial Activities ISOFA). Investments not
listed on the Stock Exchange. SEC Units, are Included al the year-end value provided by SEC.
13
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Accounting policies {continuadl
1.8 Impairment of fixed assets
Al each reporting end dale, the Charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets havè suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order lo detemine the extent of the
impairment loss lif any).
1.9 Cash and cash equivalants
Cash and cash equivalents include cash in hand, deposits held al call with banks, cash held in
investment portfolios, and bank overdrafts.
1.10 Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section
12 '01her Finanaal Instruments Issues, of FRS 102 to all of ils financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to
the (x)nlraclual 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 right lo set off the recognised amounts and there is an intention to
setue on a nel basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently Carried al amortised cost using the
effective interest method unless the arrangement conslilules a financing transaction. where the
transaction is measured al Ihe present value of the future receipls discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.
Impairment 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
initi81 recognition of the financial asset, the eslimaled future cash flows have been affected.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the
arrangement conslitules a financing tr8ns8Ction, where the debt Instrument is measured at the present
value of the future payments discounted at a market rale of interest. Financial liabililies classified as
payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, 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 rf payment is
duè within onè year or lèss. If not. thèy are presentèd as non-currènt liabilitigs. Trade créditors are
recognised initially al transaction pri￿ and subsequently measured al amortised cost using the effective
interest method.
Derecognilion 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 flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Accounting policies {continuadl
1.11 Employee bener
The cost of any unused holiday entitlement is recognised in the period in which the employee's services
a￿ ￿Ceived.
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 Retirement benefits
The Diocese conlribules 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
valuation on a triennial basis Ljsing the projected Ljnil method. This scheme covers all seven Dioceses of
the Scottish Episcopal Church and The Geneml Synod Office. The assets and liabilities of any one
participant in thè scheme cannot be identified sepamtely. The provisions of FRS 102 allow employers
participating in such schemes to treat their pension disclosures as if the scheme were a defined
conlribulion scheme. This is the treatment which has been adopted by the Diocesan Trustees in these
statement5, Wlth contributions Gharged to the Statement of Financial Activitie5 of the Diocesan General
Fund bul no asset or liability appearing on the Balance Sheet.
Critical a¢counting estimates and judgements
In the 8ppIic8tion of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other SOLJrces. The estimates and associated assumptions are based on historical
experience and other factors thal are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to ac(x)unting
estimates are recognised in the period in which the estimale is revised where Ihe revision affects only
that period, or in the period of the revision and future periods where the revision affects both current and
futuré peri1￿￿$.
Useful life of tangible fixed assets
Tangible fixed assets are depreciated over a period lo reflect their estimated useful lives, incorporating
an estimate of their r8sidual value. The applicability of the assumed lives is reviewed annually, tsking
into account factors such as physical condition, maintenance and obsolescence. Fixed assets are also
assessed as to whether there are indicators of impairment and any changes lo Ihe residual value.
Investments
Fixed asset investments are initially measured at tmnsition price excluding transaction costs and are
subsequently measured 81 fair value at each reFx)rting date. Fair value is the market value al the
reporting dale and is obtsined from the Charity's experienced investment managers for listed
investments based on quoted prices on the respective Stock Exch8nge. Investments not listed on the
Stock Exchange, SEC Units, are included 81 the year-end value provided by SEC.
Trade debtor recovery
Credit control is an important function which requires assessment, on an ongoing basis, of the
recoverability of amounls due from debtors. whe￿ recovery is in doubt, Ihe Trustees will adequately
provide against Ihis specific debt and will arrive al such conclusions based on the knowledge of the
debtor and their ability lo pay" The Trustees adopt a prudent approach to credit conlrol.
15-
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Critical accounting ostimates and judgements Icontinuod}
Accruals
Trustees estimate the requirements for accruals using post year end information and information
available from detsiled budgets. This identifies costs that are expected lo be incurred for services
provided by other parties. Accruals are only released when there is a reasonable expectation that these
costs will not be invoiced in the future.
Incomè from donations and lègaciès
Unrestricted Restrict8d
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Grants
443
79,S24
443
162,878
1,889
128,378
5,570
342,680
7,459
471,058
83,354
79,967
83,354
163,321
130,267
348,250
478,517
Grants
General Synod
Dr Anderson's Trust
INilliam Laurie
Benefacl Trust
Other grants
79,524
43,185
35,750
122,709
35,750
128,378
41,357
35.750
259,452
5,261
860
169,735
35,750
259,452
5,261
860
4,419
4,419
79,524
83,354
162,878
128,378
342,680
471,058
Income from charltable actlvltles
Unrestricted Unreslricled
2025
2024
Income from Charges - Quota
100,789
162,445
Analysis by fund
Unreslricled funds
100,789
162,445
16
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Income from Investments
Unrestrlcted Restrlcted
funds
funds
2025
2025
Total Unreslricled Restricted
funds
funds
2024
2024
Total
2025
2024
Rental income
Income from listed
investrnents
Interest re￿Ivable
1.858
1,448
3,306
3,162
3,162
70,602
1,251
33,751
740
104,353
1,991
74,419
6,616
27.412
3,652
101,831
10,268
73,711
35,939
109,650
84,197
31,064
115,261
Expenditure on raising funds
Unrestricted
funds
2025
Unreslricled
funds
2024
Investment management
14.057
13,890
17
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Expendllure on charltable actlvltles
Charltable
activities
2025
Charitsble
activities
2024
Direct costs
Staff costs
Depreciation and impairment
Quota
Travel and subsistence
Accomodation
Postage, telephone and stationery
Rent, rates council lax and insurance
Repairs and renewals
Cathedr81, Dean, Primus and Synod expenses
Training and educalion expenses
Miscellaneous
Advertising
Confefftnces
ICT
Legal and professional expenses
188,370
305
73,124
16,732
6,096
2,401
22,710
19,929
2,119
246,300
480
73,574
17,132
4,612
3,332
26,651
15,203
2,436
- ji
720
10,875
11.362
273
10,999
121.199
1,676
16,858
904
13,277
116,075
487,214
538,510
Grant funding of activities (see note 81
100,767
111,924
Governance costs
Audit fees
15.360
13,752
603,341
664,186
Analysis by fund
Unrestricted funds
Restricted funds
480,403
122,938
532,466
131,720
603,341
664,186
18
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
Grants payable
Charitable
activities
Charitable
activities
2025
2024
Grants to inslitulions-
All Saint's Buckle
Sl Andrew's Alford
Si Clement's Maslrick
Sl John's Abèrdèen
Sl John's Portsoy
St Magnus Lerwick
Sl Mary's Aberdeen
Other
3,000
4,000
15,000
53,697
9,462
3,332
20
10,011
5,420
7,282
9,500
54,902
9,462
4,533
4,359
14,018
98,522
109,476
Grants to individuals
2,245
2,448
100,767
111,924
Grants are made to charges, 3rd parties and individuals within the Scoth"sh Episcopal Church for a
variety of purposes and to non-church bodies. Where grants are made from restricted funds, these
are made in compliance with the restrictions placed upon the use of such funds. The main grants
awarded by the Finance and Property Committee relate to Maintenan￿ of church buildings.
Of the total amount of grants paid £24,483 12024 - £22,866) related lo the maintenance of church
buildings, £25,587 12024 - £28,888) related lo general mission purposes, £48,697 12024 £54,357)
related lo curacy, £2,00012024 - £2,143) related to training and education, and £Nil12024 - £3,670)
related to travel.
Net movement in funds
2025
2024
The nel movement in funds is staled after chargingllcredilingl..
Fees payable for the audit of the Charity's financial statements
Depreciation of owned tangible fixed assets
15,360
305
13,752
480
19-
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
10 Trustees
Trustees, remuneration and benefits
During the current year, The Bishop Right Rev'd Anne C Dyer, ￿ceiVed remuneration during the period
in which she was a Trustee of £51,132 12024 - £4,124) and pension contributions of £8,060 12024
£8851 for their services as Bishop, as permitted under the Diocesan Constilub'on.
During the current year, The Dean Very Revd Dr Jennifer Holden, received remuneration during the
period in whieh she was a Trustee of £8,577 and pension contributions of £1,887 for their services as
Dean, as pemitted under the Diocesan Conslitulion.
Trustees. expenses
During the year six Trustees, the Bishop Right Rev'd Anne C Dyer, Lynsay Braybrooke, Lizzie Finlayson,
Ferdinand Von Prondzynski, Very Revd Dr Jennifer Holden, and Brenda Dowie received reimbursement
of expenses amounting to £15,45612024- five Trustees- £14,871).
11 Employees
The average monthly number of employees during Ihe year was-.
2025
Number
2024
Number
Bishop
Administration
Total
Employment costs
2025
2024
Wages and salaries
Social securily cosls
Other pension costs
149,160
7,177
32,033
190,226
14,368
41,706
188,370
246,300
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 follows..
2025
2024
Aggregate compensation
121.497
98,306
-20-
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
12 Galns and losses on Investments
Unrestrlcted Restrlcted
funds
funds
2025
2025
Total un￿strICted
funds
2024
Restricted
funds
2024
Total
2025
2024
Revaluation of
investrnents
Sale of investments
195,576
35,597
95,235
290,811
35,597
316,661
59,728
161,702
478,363
59,728
231,173
95,235
326,408
376,389
161,702
538,091
13 Taxation
The Charity is exempt from taxation on ils activities because all ils income is applied for charitable
purposes.
14 Tangible fixed assets
Freehold
Fixtures
land and and flttlngs
bulldlngs
Total
Cost
At 1 November 2024
Additions
1,177,023
354,674
20,793 1,197.816
354,674
Al 31 October 2025
1.531,697
20,793 1.552.490
DoproclatSon and Impalrmont
Al 1 November 2024
Depreciation charged in the year
20,229
305
20,229
305
At 31 October 2025
20,534
20,534
Carrying amounl
At 31 October 2025
1.531,697
259 1.531.956
At 31 October 2024
1.177,023
564 1,177,587
21
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
15 Flxed asset Investments
Llsted
Investments
Cash In
portfollo
Total
Cosl or valuatlon
At 1 November 2024
Additions
Valualion Changes
Cash movements
Disposals
3,765,180
525,027
290,811
13,608
3,778,788
525.027
290,811
{1,031}
11.003.683}
11,0311
11,003.6831
At 31 October 2025
3,577,335
12,577
3,589,912
Carrying amount
At 31 October 2025
3,577.335
12,577
3,589.912
At 31 October 2024
3,765,180
13,608
3,778,788
Investment Risks
FRS 102 requires the disclosure of information in relation to certain investment risks. These risks are set
out by FRS 1 D2 as follows..
Credit risk.. this is the risk that one paty to a financial instrument will cause a financial loss for the other
party by failing lo discharge an obligation.
Market risk.. this comprises currency risk, interest rate risk and other price risk.
Currency risk.. this is the risk that the fair value or future cash flows of a financial asset will
fluctuate because of changes In fO￿1Qn exchange rates.
Interest ral& risk.. this is the nsk that the fair value or future c8sh flows of 8 financial asset will
fluctuate because of changes in market interest rates.
Other price risk: this is the risk that the fair value or future cash flows of a financial asset will
fluctuate because of changes in market prices {other than those arising from interest rate risk or
currency risk), whether those changes a￿ caused by factors specific to the individual financial
instrument or its issuer, or factors affecb'ng all similar finanryal instruments traded in the market.
The Charity has exposure lo these risks because of the investments il makes to implement its
investment strategy. The Trustees manage investment risks, including credit risk arbd market risk, within
agreed risk limits which are set taking 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 investment committee of the General Synod.
Furthèr information on the Charity's approach to rigk managèment and thè exposurè to eredit and market
risks are sel out below.
Crodit Risk
The Charity invests directly in lisled inveslmenls, as well as in pooled investment vehicles and is
therefore directly exposed lo credit risk in ￿latiOn lo thesg listed inslruments and is indirectly exposed lo
credit risks arising on pooled investment vehicles.
Pooled investment arrangements used by the Charity comprise aulhorised unil trusts.
-22-
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
15 Fixed asset investments {continuod)
Currency risk
The Charity is subject to CUr￿ncY risk because some of the Charity's investments are held in overseas
markets.
Interest rate risk
The Ch8nty 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 exFX)sure to
other pri￿ risk by conslrucling a diverse portfolio of investments across various markets.
16 D8btors
2025
2024
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
63,499
3,775
8,243
7,801
1,403
1,968
75,517
11,172
2025
2024
Amounts falling due after more than one year-
Trade debtors
29,159
91,337
Total dobtors
11M,fj7fj
102,509
Trade debtors falling due after more than one year in the prior year represented amounts where the
Diocese anlicipaled that it was more probable Ihal receipt of the outstanding balances would be grealer
than one year.
17 Creditors- amounts falling due within one year
2025
2024
Other taxation and social security
Trade creditors
Accruals and deferred income
2,019
12,173
31,205
27,216
45,397
27,216
Accounts- Fin81.pdf17d7b6c4gcb2b49eb-88ed-98c2c296f1d91 Page.. 26 135

Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
18 Retlrement benefit schemes
Deflned beneflt schemes
2025
2024
Charge to profit or loss in respect of defined benefit schemes
31,404
41,706
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
valuation on a triennial basis using the projected unil method. This scheme covers all seven Dioceses of
the Scottish Episcopal Church and The General Synod Office. The assets and liabilities of any one
participant in the scheme cannot be identified separately. The provisions of FRS 102 allow employers
participating in such schemes to treat their 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, wlh contributions charged lo the Statement of Financial Activities of the Diocesan General
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 to a surplus of
£4.6 million. This Trustees of the SEC Pension Fund and the Provincial Stsnding Committee recommend
the conlriL)ution rale be reduced to 22¥..
-24.
Accounts- Fin81.pdf17d7b6c4gcb2b49eb-88ed-98c2c296f1d91 Page.. 27 135

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Accounts- Fin81.pdf17d7b6c4gcb2b49eb-88ed-98c2c296f1d91 Page.. 30 135

Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
20 Unrestrlcted funds
The unreslricled funds of the Charity comprise the unexpended balances of donations and grants which
are not subject lo specific conditions by donors and grantors as to how they may be used.
Incoming Rosources
rasources
expended
Transfers
Gains and
losses
At31
October
2025
November
2024
General funds
3,737,633
254,467
1494,460)
127,167)
231,173 3,701,646
Previous year:
A11
November
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
October
2024
General funds
3,584,214
376,909
1546,356)
153,5231
376,389 3,737,633
Transfers between funds
Transfers are made each year when projects come to an end and there is a closing net incomel
lexpendilure), or to align expenditure lo the correct fund.
21 Analysls of nel assets between funds
Unrestricted Restricted
funds
funds
2025
2025
Total
2025
At 31 October 2025:
Tangible assets
Investments
Current assetsllliabilitiesl
1,180.856
2,525,887
{5.0971
351,100
1,064,025
149,674
1.531.956
3,589,912
144.577
3,701,646
1,564,799
5,266.445
Unrestricted
funds
2024
Reslricled
funds
2024
Total
2024
At 31 October 2024:
Tangitple assets
Investments
Current assetsllliabilitiesl
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
-28-
Accounts- Fin81.pdf17d7b6c4gcb2b49eb-88ed-98c2c296f1d91 Page.. 31135

Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
22 Contlngent Ilabllltles
The Diocese is the guarantor for any loans made by the Provincial Office of the S(x)ttish Episcopal
Church to charges within the Diocese. At 31 October 2025 there were no loans to charges from the
province.
23 Contingent 8ssets
The Diocese has entered into a grant undertaking, up to the value of £30,000, with St Mary's EpiscA)pal
Church, Auchindoir. Certain conditions exist whereupon this grant may be repayable to the Diocese.. if
Sl Mary's sells or otherwise transfers ownership of Ihe Rectory it shall repay the grant lo the DI0￿Se
with a premium calculated al a rale of 50/0 of the grant being made, compounded annually. If St Mary's
rents out the Rectory as a private dwelling house after 1 January 2013, il shall pay 15Q/o of such rert to
the Diocese. These conditions are subject to future events out with the control of the Diocese and as
such a debtor has not been recognised in the financial stslements.
24 Operating loase commitmonts
Lessee
At the ￿ porting end date the Charity had outstanding commitments for future minimum lease payments
under non-cancellable operating leases, which fall due as follows..
2025
2024
Within one year
Between and five years
1,175
1,175
7,175
20,350
2,350
27,525
25 Ultimale controlling party
Th8 Diocese of Aberdeen and Orf(ney is a constituent part of the Scottish Episcopal Church and,
as such, operates within the framework or regulation Ilhe Canons of the Scottish Episcopal
Churchl passed by the General Synod. Within this framework the Diocese has a completely
independent deasion-making process.
-29-
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Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
26 Related party transactlons
Grants and SUPF)Ort of £122,709 12024 - £169,735) were received by the Diocese from The
General Synod of the Scottish Episcopal Church during the year. and quota of £73,124 12024
£73,574) was paid to The General Synod of the Scotbsh Episcopal Church. A balance of £10,653
12024 - £nill was due lo the Diocese at the year end.
The following Charges under the Diocese We￿ deemed to be related through common Trustees
andlor their close family members..
Sl Andrews Church, Aberdeen were charged quota of £17,775 to the Diocese, and received
grants from the Diocese of £nil. A balance of £40,761 was due to the Diocese al the year end.
Sl Thomas Church, Aboyne were charged quota of £3,67812024 - £3,346) lo the Diocese, and
received grants from the Diocese of £nil12024- £2,020). There were no outstanding balances al
the year end relating lo these transactions.
All Saints Episcopal Church Buckle were charged quota of £2,330 12024 - £2,270) to the
Diocese, and received grants from the Diocese of £3,000 12024 - £5,420). There werè no
oulslanding balances at the year end relating to these Iransaclions.
Church or si John Baptist Portsoy were charged quota of £39712024 - £1891 to the Diocese.
and received grants from the Diocese of £9,462 12024 - £9,462). There were no outstanding
balances at the year end relating lo these transactions.
Sl Ternan, Banchory were charged quota of £7,96512024 £6,391) to Ihe Diocese. and received
grants from the Dioces8 of £nil 12024 - £2,020I. There were no outstanding balances at the year
end ￿lating to these transactions.
Sl hAary's, Aberdeen were charged quota of £6,85812024 £6,930) lo the Diocese, and received
grants from the Diocese of £nil 12024- £4,359). There were no outstanding balances at the year
end ￿lating to these transactions.
St Mary's, Stromness were charged quota of £2,431 12D24 - £2,599) to the Diocese. and
received grants from the Diocese of £nil12024 - £nill. There were no outstanding balances at
the year end relating lo these transactions.
Sl Olafs, Kirkwall were charged quota of £2,535 (2024 - £2,860) to the Diocese, and received
grants from the Diocese of £30612024 - £4921. There were no outstanding balances at the year
end relatin9 to thèse transactions.
Sl Mary's, Inverurie were charged quota of £24,946 12024 - £15,100) lo the Diocese, and
received grants from the Diocese of £nil12C)24 £nill.
Sl Kenligern's, Ballaler were charged quota of £3,572 12024 £2.9701 lo the Diocese. and
received grants from the Diocese of £nil 12024 - £nill. There were no outstsnding balances al
the year end relating lo these transactions.
Sl Ninians, Aberdeen were charged quota of £4,167 to the Diocese, and received grants from
the Diocese of £nil. There were no OLJlslanding balances at the year end relating to these
transactions.
St hAary-On-The-Rock, Ellon were charged quota of £12,977 to the Diocese, and received grants
from the Diocese of £1,000. There were no outstanding balances at the year end relating to
these transactions.
Accounts- Fin81.pdf17d7b6c4gcb2b49eb-88ed-98c2c296f1d91 Page.. 33 135

Dlocese of Aberdeen and Orkney
NotOS to the flnanclal statements (contlnuod)
for tho year ondad 31 Octobar2025
27 Cash (absorbed byllgenerated from operatlons
2025
2024
Surplus for the year
82,770
616,238
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depmciation and impairment of tsngible fixed assets
1109,650) (115,2611
{35,5971
159,728)
1290,8111 1478,3631
305
480
Movements in working capital-
Ilncreaselldecrease in debtors
Increaselldeereasel in creditors
12,1671
18,181
193,240
(6,2081
Cash labsorbod byllgonerated from oparations
1336,9691
150,398
28 Anatysis of changes in netfunds
The Charity had no material debt during the year.
31
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