REGISTERED CHARITY NUMBER: SC023246
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 September 2024
for St Ninian's Scottish Episcopal Church: Edinburgh
J S Accounting Services Limited 13-15 Morningside Drive EDINBURGH EH10 5LZ
St Ninian's Scottish Episcopal Church: Edinburgh
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 15 |
St Ninian's Scottish Episcopal Church: Edinburgh
Report of the Trustees for the Year Ended 30 September 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Vestry are to advance the mission of the Christian Church, through worship, service, fellowship, and outreach. These objectives are carried out through mission and pastoral activities. The principal activities of the Church are public worship, the spiritual development of its members and its social responsibility activities.
In carrying out its objectives the Vestry depends upon the contribution, both human and material, of many volunteers from the Congregation who carry out preparatory work before and during worship and are involved in many group activities, in the maintenance of premises and fabric, and in many pastoral and social activities. These contributions are all highly valued and all members of the Congregation are encouraged to, and many do, participate in them.
Donations are made to charitable causes that provide benefits to disadvantaged individuals and communities in Scotland, the rest of the United Kingdom and overseas.
Significant activities
The Vestry has met regularly throughout the year, attending to all aspects of life at St Ninian's, including the oversight of governance, Church fabric, and finance. Vestry meetings are hybrid - in-person with option to join on Zoom.
The Church continues to provide public worship and to make its facilities available for the whole community. Two worship services are held each week.
The Clergy and Ministry Team provide pastoral care to those in need, offering emotional and spiritual support in times of pain, loss and anxiety, and sharing in joys and celebrations, including visits to the housebound and those in hospital and residential care.
St Ninian's volunteer Choir enhances the Church's worship. Two continuing Choral Scholars were members of the Choir until the end of August 2024, with three new Choral Scholars joining the Choir from September 2024, Vestry having committed to £1,000.00 per annum per scholar, for up to four scholars at any one time.
Regular lay learning opportunities are provided to develop disciples, build up the life of the Church, and enable ministries.
A new St Ninian's Website was commissioned and launched and is maintained as a point of information and outreach. E-mail addresses are hosted and provided for St Ninian's office-holders.
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St Ninian's Scottish Episcopal Church: Edinburgh
Report of the Trustees for the Year Ended 30 September 2024
OBJECTIVES AND ACTIVITIES Significant activities- continued
Since June 2022, the Church has offered Literacy, Beginners, Intermediate, and Advanced English Classes every Monday and Thursday afternoon to refugees and asylum seekers housed locally under the Church's umbrella initiative, Project CARE (Community Action for and with Refugees in Edinburgh). In June 2024 Project CARE, with the help of a number of volunteers from the local community, initiated new programmes for asylum seekers: regular English Conversation Cafés; creative workshops; and cultural and historical tours.
The Church is registered as a Fairtrade Church.
The Church is also registered as an Eco-congregation. Eco Congregation Scotland is a movement of Scottish Church congregations, of all denominations and none, committed to addressing environmental issues through their life and mission. The action plan to meet the Scottish Episcopal Church's goal of net carbon zero emissions by 2030 was approved by the General Synod in June 2023. The Church has an informed and energetic Eco Group which leads on environmental activities and climate justice issues.
The Church's beautiful garden is well-tended, and is well-used and appreciated by members of the local community. St Ninian's raised money for the Bishop of Edinburgh's Lent Appeal. The Church supported Fresh Start and St Catharine's Convent (both working in Edinburgh with homeless people), and Mission to Seafarers Scotland. Members of the Church organised a successful annual Christian Aid collection. Stamps were collected for RNIB fundraising, and bottle-tops for Smalls for All.
St Ninian's is a member of Comely Bank Churches Together (CBCT), which is made up of Churches within the Comely Bank and Stockbridge areas whose representatives meet several times each year to work and pray together ecumenically, while engaging with those in Comely Bank and Stockbridge on a daily basis.
The Church Hall is used by many in the local community for regular and one-off lets.
Some members of the congregation have increased their regular, pledged giving to the Church.
FINANCIAL REVIEW
Financial position
There was an excess of costs over income of £8,780 (2023 £168 surplus income).
Congregational giving remains similar to last year. Giving is now almost entirely by standing orders and direct transfers.
Investment income has increased by 8% to £14,956 from £13,839 in the previous year.
Hall hire income has increased by 30% to £10,802 from £8,227 in the previous year.
Investment policy
The charity hold both financial investments and an investment property. Financial investments are held in the Scottish Episcopal Church Unit Trust Pool (UTP). The investment objective of the UTP, which accords with that of the Vestry, is to earn a return on the assets sufficient to at least maintain the real value of the distribution to unit holders over the long term, subject to the need to avoid long term erosion of capital. Distributions are received twice each year.
The Principal Investment Committee, which manages the UTP has determined an Ethical Investment Policy which stresses certain "positive" ethical criteria as well as certain strict "negative" criteria. These include no direct investment in companies who main business is to restricted categories such as armaments, gambling and tobacco.
During 2024 the fund continued to provide a positive return, and has continued to recover in value during 2024.
The Congregation also owns a flat in Comely Bank. This was acquired in January 2000, with the intention of serving as a Rectory. This is now held purely as an investment property and is let as a residential property at an open market rent.
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St Ninian's Scottish Episcopal Church: Edinburgh
Report of the Trustees for the Year Ended 30 September 2024
FINANCIAL REVIEW Reserves policy
The Vestry has a policy of maintaining a reserve of approx £105,000 of working capital, such that in any event the Church is able to meet any unexpected significant demand on finance, the Church will be able to meet its obligations and continue activities until replacement funding is obtained.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
St Ninian's is a registered Scottish Charity [SC023246] within the Diocese of Edinburgh in the Scottish Episcopal Church. The superior authority is the Bishop of Edinburgh.
Vestry members are the Charity Trustees of the charge and are responsible for managing the financial and temporal affairs of the Congregation, maintaining in good order the fabric and property of all the buildings and keeping under review any risks to which the Church may be exposed. The Vestry also assists the Rector in matters affecting the spiritual welfare of the Congregation. The members of the Vestry hold office as determined by the Constitution and are elected at the Annual General Meeting. The Lay Representative who represents the church at Diocesan Synod and Area Council meetings, and the Alternate Lay Representative are elected annually by the Congregation at the Annual General Meeting. The People's Warden is elected by the Congregation at the Annual General Meeting and holds office for one year. The Rector's Warden is appointed by the Rector, and also holds office for one year. The Vestry Secretary and Treasurer are appointed by Vestry.
Day-to-day management is delegated to the Rector and officials, with the Vestry authorising policy relating to temporal affairs. The Rector is responsible for the spiritual affairs of the Church and is assisted by the Vestry and members of the Ministry Team.
Vestry considers major risks on an ongoing basis and is satisfied that systems are in place to manage these risks. Risk and control activities include vulnerable groups policy, health and safety assessments, financial control procedures and regular financial monitoring.
The Church has insurance cover through Ecclesiastical Insurance against a range of risks appropriate to the activities of a Church. The level of insurance cover, which is considered adequate, is reviewed on an annual basis.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC023246
Principal address
40 Comely Bank Edinburgh EH4 1AG
Members of Vestry:
Very Revd Frances Burberry Rector Jon Baggs Rector's Warden Alexandra Clark Secretary (resigned 10.12.23) Revd Fiona Reynolds Secretary (appointed 10.12.23) (resigned 29.9.24) June Sinclair Treasurer Elected: Wilma Thomas People's Warden Cherry Campbell Lay Representative Helen Michell Alternate Lay Representative: elected ordinary member Alan Baker Hugh Campbell (co-opted 2 June 2024) Alison Howard (resigned 4 February 2024) Harry Wright
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St Ninian's Scottish Episcopal Church: Edinburgh
Report of the Trustees for the Year Ended 30 September 2024
The following officials of the Diocese of Edinburgh also act as Trustees in respect of the heritable property of the Church:
Right Revd Dr John Armes Bishop Very Revd Frances Burberry Dean Lady Anna Poole Chancellor Pippa Snell Registrar
Website
www.sncb.scot
Bankers
The Bank of Scotland Edinburgh Comely Bank Branch 43 Comely Bank Edinburgh EH4 1AF
Independent Examiner
Alison Miller CA J S Accounting Services Limited 13-15 Morningside Drive EDINBURGH EH10 5LZ
Approved by order of the board of trustees on 8[th] December 2024 and signed on its behalf by:
........................................................................ The V R C F Burberry - Trustee
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Independent Examiner's Report to the Trustees of St Ninian's Scottish Episcopal Church: Edinburgh
I report on the accounts for the year ended 30 September 2024 set out on pages six to fifteen.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
-
(1)
-
which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alison Miller CA
The Institute of Chartered Accountants of Scotland
J S Accounting Services Limited 13-15 Morningside Drive EDINBURGH EH10 5LZ
Date: 8[th] December 2024
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St Ninian's Scottish Episcopal Church: Edinburgh
Statement of Financial Activities for the Year Ended 30 September 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Investment income 4 Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Charitable activities Grants and donations Total Net gains on investments NET INCOME/(EXPENDITURE) Transfers between funds 16 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 63,177 10,802 23,822 97,801 2,069 98,394 - 100,463 69,339 66,677 (846) 65,831 787,773 853,604 |
Restricted funds £ 3,994 - - 3,994 - 10,112 - 10,112 - (6,118) 846 (5,272) 580,724 575,452 |
30.9.24 Total funds £ 67,171 10,802 23,822 101,795 2,069 108,506 - 110,575 69,339 60,559 - 60,559 1,368,497 1,429,056 |
30.9.23 Total funds £ 67,855 8,227 22,985 99,067 4,072 91,135 3,692 98,899 23,502 23,670 - 23,670 1,344,827 1,368,497 |
|---|---|---|---|---|
The notes form part of these financial statements
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St Ninian's Scottish Episcopal Church: Edinburgh
Balance Sheet 30 September 2024
| Notes FIXED ASSETS Tangible assets 10 Investments Investments 11 Investment property 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES ACCRUALS AND DEFERRED INCOME 15 NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ - 524,423 257,000 781,423 24,743 52,016 76,759 (2,754) 74,005 855,428 (1,824) 853,604 |
Restricted funds £ 574,572 - - 574,572 - 2,080 2,080 (1,200) 880 575,452 - 575,452 |
30.9.24 Total funds £ 574,572 524,423 257,000 1,355,995 24,743 54,096 78,839 (3,954) 74,885 1,430,880 (1,824) 1,429,056 853,604 575,452 1,429,056 |
30.9.23 Total funds £ 579,056 455,084 257,000 1,291,140 20,243 61,177 81,420 (3,151) 78,269 1,369,409 (912) 1,368,497 787,773 580,724 1,368,497 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8[th] December 2024 and were signed on its behalf by:
............................................. V R C F Burberry - Trustee
The notes form part of these financial statements
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements for the Year Ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost and 5% on cost
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The Scottish Episcopal Church operates a defined benefit non-contributory pension scheme for clergy. The Congregation pays contributions to this multi-employer scheme in respect of its stipendiary clergy. Contributions are set at rates designed to spread the cost of pensions over the working lives of the clergy. The rate of contribution is determined by the Actuary as disclosed in note 8 to the accounts. Contributions payable to the pension scheme are charged to the Statement of Financial activities in the period to which they relate.
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 2. DONATIONS AND LEGACIES Congregational Giving Special charitable collections Gift aid Legacies Grants Analysis of Congregational Giving Standing orders & cheques Envelopes and Open Plate Single gifts Grants received, included in the above, are as follows: Diocesan Dean Allowance Other 3. OTHER TRADING ACTIVITIES Hire of hall 4. INVESTMENT INCOME Rents received Unit trust distribution Deposit account interest |
30.9.24 £ 42,481 3,994 4,500 - 16,196 67,171 28,766 8,615 5,100 42,481 30.9.24 £ 16,196 - 16,196 30.9.24 £ 10,802 30.9.24 £ 8,267 14,956 599 23,822 |
30.9.23 £ 44,047 50 6,400 1,000 16,358 67,855 27,015 ,8,332 8,700 44,047 30.9.23 £ 14,918 1,440 16,358 30.9.23 £ 8,227 30.9.23 £ 9,146 13,839 - 22,985 |
|---|---|---|
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
5. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| Flat expenses CHARITABLE ACTIVITIES COSTS Salaries, pensions and national insurance Worship and administration Outreach and development Heating, lighting and cleaning Insurances Maintenance - church, hall & rectory Quota Depreciation Sundry |
30.9.24 30.9.23 £ £ 2,069 4,072 52,465 49,560 11,405 7,434 3,042 1,762 10,475 12,750 3,027 2,840 15,555 3,949 6,417 7,716 4,484 4,484 1,636 640 108,506 91,135 |
|
| 91,135 |
6. CHARITABLE ACTIVITIES COSTS
7. GRANTS PAYABLE
Donations paid by the Charity are in respect of restricted special charitable collections received in respect of Ukraine Appeal, Seafarers, etc.
8. VESTRY' REMUNERATION AND BENEFITS
| Rector's Gross Stipends Provision for future sabbatical entitlement Other salaries and honoraria Pension contributions |
30.9.24 38,080 912 3,043 10,430 52,465 |
30.9.23 £ 35,479 912 3,563 9,606 49,560 |
|---|---|---|
The average number of employees during the year was 2 (2023: 2) - with a full time equivalent of 1.5 (2023: 2). Information regarding stipendiary members of the clergy, who are technically not employees but office holders, is included.
No employee received emoluments in excess of £60,000 in either the current or prior year.
The Rector is entitled to a paid sabbatical of up to 3 months for each ten years of service, which was last taken in 2020. A provision is made annually to record the future liability, calculated as the proportion of the time due accrued to date at the current rate of standard stipend and related employment costs.
Stipendiary Clergy are able to join the Scottish Episcopal Church's Pension Fund which is a non-contributory defined benefit scheme with benefits based on final pensionable salary. The Rector is a member of the Fund.
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
8. VESTRY' REMUNERATION AND BENEFITS - continued
St Ninian's is unable to identify its share of the underlying assets and liabilities of the Fund on a consistent and reasonable basis and so accounts for its contributions as if the scheme was a defined contribution scheme. The contribution rate for the year under review continues to be 32.2%; the rate is based on the recommendations of the Fund's Actuary following the Actuarial Valuation of the Fund as at 31 December 2020 which estimated the Fund's surplus to be in the region of £5.6 million (2017: surplus £3.7 million). As the Fund is in surplus, there is no agreement in place to make additional contributions in respect of past service and accordingly no such liability is recognised in these accounts.
Employees other than stipendiary Clergy are eligible to join a defined contribution pension scheme meeting the requirements of the auto-enrolment legislation, and to receive employer's contributions. During the year under review, no other employees met the criteria for mandatory auto-enrolment, nor did any elect to join a pension scheme voluntarily.
Vestry' expenses
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
9.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 65,605 Other trading activities 8,227 Investment income 22,985 Total 96,817 EXPENDITURE ON Raising funds 4,072 Charitable activities Charitable activities 85,239 Grants and donations 3,692 Total 93,003 Net gains on investments 23,502 NET INCOME/(EXPENDITURE) 27,316 RECONCILIATION OF FUNDS Total funds brought forward 760,457 TOTAL FUNDS CARRIED FORWARD 787,773 |
Restricted funds £ 2,250 - - 2,250 - 5,896 - 5,896 - (3,646) 584,370 580,724 |
Total funds £ 67,855 8,227 22,985 99,067 4,072 91,135 3,692 98,899 23,502 23,670 1,344,827 1,368,497 |
|---|---|---|
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
10. TANGIBLE FIXED ASSETS
| COST At 1 October 2023 and 30 September 2024 DEPRECIATION At 1 October 2023 Charge for year At 30 September 2024 NET BOOK VALUE At 30 September 2024 At 30 September 2023 |
Freehold property £ 564,589 - - - 564,589 564,589 |
Fixtures and fittings £ 61,685 47,218 4,484 51,702 9,983 14,467 |
Totals £ 626,274 47,218 4,484 51,702 574,572 579,056 |
|---|---|---|---|
Freehold property comprises the Rectory, in Craigleith Road, Edinburgh, which is owned by St Ninian's.
The congregation also owns the church and church hall in Comely Bank, Edinburgh. This property is held in (bare) trust for the congregation by the Diocesan Property Trustees and the original value are not available. In the opinion of Vestry, it is highly unlikely that the proceeds of any future sale would flow to the charity and, as such, no value for these properties has been included in the accounts.
11. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 October 2023 | 455,084 |
| Revaluations | 69,339 |
| At 30 September 2024 | 524,423 |
| NET BOOK VALUE | |
| At 30 September 2024 | 524,423 |
| At 30 September 2023 | 455,084 |
| There were no investment assets outside the UK. | |
| Cost or valuation at 30 September 2024 is represented by: | |
| Listed | |
| investments | |
| £ | |
| Valuation in 2024 | 524,423 |
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 12. INVESTMENT PROPERTY FAIR VALUE At 1 October 2023 and 30 September 2024 NET BOOK VALUE At 30 September 2024 At 30 September 2023 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 £ Other debtors 24,743 The Charity has outstanding gift aid claims and a provision has been included within the accounts. 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 £ Other creditors 3,954 15. ACCRUALS AND DEFERRED INCOME 30.9.24 £ Accruals and deferred income 1,824 |
£ 257,000 257,000 257,000 30.9.23 £ 20,243 30.9.23 £ 3,151 30.9.23 £ 912 |
|---|---|
This represents a provision for a paid sabbatical of up to 3 months that the Rector is entitled to for each ten years of services.
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Deans Allowance Restricted funds Bishop's Lent Appeal Bethany Care Shelter Property reserve Project CARE TOTAL FUNDS |
At 1.10.23 £ 737,377 50,396 787,773 595 285 579,056 788 580,724 1,368,497 |
Net movement in funds £ 50,482 16,195 66,677 285 (285) (4,484) (1,634) (6,118) 60,559 |
Transfers between funds £ (846) - (846) - - - 846 846 - |
At 30.9.24 £ 787,013 66,591 853,604 880 - 574,572 - 575,452 1,429,056 |
|---|---|---|---|---|
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Deans Allowance Restricted funds Bishop's Lent Appeal Bethany Care Shelter Property reserve Project CARE TOTAL FUNDS |
Incoming resources £ 81,606 16,195 97,801 285 - 3,341 368 3,994 101,795 |
Resources expended £ (100,463) - (100,463) - (285) (7,825) (2,002) (10,112) (110,575) |
Gains and Movement losses in funds £ £ 69,339 50,482 - 16,195 69,339 66,677 - 285 - (285) - (4,484) - (1,634) - (6,118) 69,339 60,559 |
|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Deans Allowance Restricted funds Bishop's Lent Appeal Bethany Care Shelter Property reserve Project CARE TOTAL FUNDS |
At 1.10.22 £ 724,979 35,478 760,457 545 285 583,540 - 584,370 1,344,827 |
Net movement in funds £ 12,398 14,918 27,316 50 - (4,484) 788 (3,646) 23,670 |
At 30.9.23 £ 737,377 50,396 787,773 595 285 579,056 788 580,724 1,368,497 |
|---|---|---|---|
continued...
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St Ninian's Scottish Episcopal Church: Edinburgh
Notes to the Financial Statements - continued
for the Year Ended 30 September 2024
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Gains and | Movement | |
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 81,899 | (93,003) | 23,502 | 12,398 | |
| Deans Allowance | 14,918 | - | - | 14,918 | |
| 96,817 | (93,003) | 23,502 | 27,316 | ||
| Restricted funds | |||||
| Restricted | 1,200 | (1,200) | - | - | |
| Bishop's Lent Appeal | 50 | - | - | 50 | |
| Property reserve | - | (4,484) | - | (4,484) | |
| Project CARE | 1,000 | (212) | - | 788 | |
| 2,250 | (5,896) | - | (3,646) | ||
| TOTAL FUNDS | 99,067 | (98,899) | 23,502 | 23,670 |
Transfers between funds
The value of the rectory and associated fixtures has been transferred to a restricted capital reserve to recognsie that these funds are not available for general use since if the rectory was sold a new property would require to be acquired.
17. RELATED PARTY TRANSACTIONS
Except for the Rector, no other member of the Vestry received remuneration nor reimbursement of expenses, other than reimbursement of purchases which were required to be made on behalf of the Church. The Rector is ex officio a member of the Vestry and a trustee, and receives remuneration, benefits and reimbursement of expenses in respect of services as a stipendiary cleric in line with scales determined by General Synod of the Scottish Episcopal Church.
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