St Giles, Heritage and Culture SCIO RECEIPTS AND PAYMENTS ACCOUNTS For the year ended 31 Deeember 2024 Charity No: SC049530
St Giles, Heritage and Culture SCIO For the year ended 31 December 2024 Contents Trustees. Annual Report Report of Independent Examiner Receipts and Payments Accounts statement of Balances Page
St Giles, Heritage and Culture SCIO Trustees, Annu81 Report For the year ended 31 December 2024 Referenee AdministrAtive Inforni#tio Cbgrlty Name: Chgrity Number: Addrtsg: St Gile%' Herita8e and Cultur¢ SCIO SC049530 St Giles, Cathedral High Street Edinburgh EHI IILF. $t¢u: Indepelldent Examiner: H<)IIIs iKccouryting Limited Chartered Accowlianls 3 Melville Crescent Edinbwgh EH3 7HW Struetvre, Govern$D¢¢ aod M#ng¢ment Constitution The c.harity is a Scottish Charitable IncoTporkted Org8lltsalion ISCIOI. It was registered in 115 Cu¢1 le8al fornj on 13 August 2019. The Charity is administered in accordance with the temis of its constitutitin. Retruitment Appoinlmcnt vf TTlJ5tct5 Upon inco]PQFOtion the individuals who signed the forms wluch accoMpaned th¢ •ppli¢8¢Jon wei¢ d¢cmcd to have b¢¢n appOted a5 Trustees. The consiitutiot) provides for Ih¢r¢ to b¢ a minimum of three Y4Trd a maximum of eleven Tru$tee5. The constitutEon further provides for election of Trustees from th¢ cligibl¢ nemb¢rship of th¢ SCIO by the members at each Annual General fvfeetin& and for appointment a$'Irstee bythe Board oTrustees of any eli8ible member or of any non.member nominated by the fvtittisier at]d Kirk Session of St Gil¢s' Cathedral or whose sprfialisi skills 01 ¢xperietKe are deemed l&ely to be of assisthAc¢ to the B(Ydrd. The constitttiion fvrther pr(>vtd¢s tILat Trustee5 51iall serve for an initial terni of four years at)d be eligible to serv¢ for subsequent terrn5 of four years. Trustees are given a copy of the ¢onstitttuon sugg¢st¢d to revEew the guidance issued by OSC.k on their role and respohsibilities. Page 1
St GAles' HeritAge and Culture SCIO Trustees. Annual Report (continued) For the yeAr ended 31 December 2024 Objectives and Activities The charitable objc¢tiv¢s of St Giles. H¢rithge and Culture SCIO are.. The advancernent of reli8ion by affording &ccess to St Giles, Cathedrnl for ihe purposes of divine worship and by pportIng the activities of the COnggallon in maintsining Christian worship in additioti to th¢fftJ' wider ¥liarAtgthle wurk witlhLIL Ihrir LE1Lh buxldin¥. in Éhrir parish and ill ihc wid¢r 2. The advancement of h¢ritsg¢ and cultw¢ through the preservation of. promotion of publi¢ acc5 to. and education abouL the historic building known a5 St Giles, Cathedrat.. The Hsgh Kith of Edinburgh; gnd 3. Such other similar PUTpose& as are conducive to the mgintenan¢e gnd pttseThation of St Giles, c.athedral and its continuity as a livtn8 Pla of worship and a pla¢¢ of cultural iELterest and histori1 imponance. It 15 envisaged that the SCIO will undcrt8kc activitl¢S, 50m¢ of which are already done by St Giles, Cathedral directly. and some which develop the ¢ultur¢ of St Giles, Cathra] in new and innovative way5. Achievements and Perfomance In the petriod since the Creation of the SCIO, the Trust¢¢s have ensured thai the systems required are beÈng put in place. Thi5 has involved setting up the SCIO bank accounts, deweloping plans ftsr the bhape of the SCIO'5 activities and considerdtion of appropriat¢ mod¢ls. Unfortuttarely. due to COVtD 19. rhere was a a dramatic reductiOYL in visitors to Edinburgh and Sl Gil¢$ Catheéral and as th%5 Vlsltor income Wd8 core lo the planning and developmeni of the SCIO. these events have caused thc TTUStees to pause any fvrther SiBnificant action to date. FinAueiil R¢vi¢w There were no fill(1a1 tran5aCttotkS between the charity being regi$t¢r¢d ond 31 D¢¢¢mber 2024. Reserves Polity The reserves at J l December 2024 are £nil. The Trustees will formulate a reserves wlicy when the *¢tivitie5 of the SCIO &re to begin. PIAn$ for Futllr¢ P¢rlod5 The Trusiees are ¢untntiy ¢ortsidering the shape and form that the SCIO activittes will tske. Due to the Impact of C.OVID 19 on the visitOT income, it has been deemed prudent to delay the commencement of a¢tiwties until incornc b¢ d¢t¢rmin¢d with more certainry. St•t¢TheDt of Truslec3' Responsibilities Th¢ trustees must prep&re firn¢la[ statements whi¢h g¢v¢ suffi¢i¢F)t d¢knil to enabl¢ an apprtciation of the transactions of the charity during the financial year. The truste¢s arc responsibl¢ for keeping proper accounting cords which, on request. must reflect the fjnantial p)sititsn of the charity at that tie. This must be done to ensure thai rhe financial statements comply with the Charities and Trustee Inyestmetrt {Scotland) Aci 2005, an¢J th¢ Charities AccouTEts {Scotland} R¢gulatio1 2006. They are also respoDsible for safeguarding the asscts of the charity and must take reasonable step5 for the prevention and l or d¢ttttion of fraud and other irr¢gularitie5. .4pprerf FJN the Tru4tee$ anil ¥igiied Thn their heh21t. Page 2
Independent Examiner's Report to St GAles' Heritage and Cullure SCIO I re]K)rt on the a¢countg of ihe charity for the petiod ending 31 Dec¢mber 2024 which are set out on pages 4 to Re3CtiVe responslbllltles of tnigtees and exgminer The ¢harity's trustCe5 ar¢ responsible for the preparation of the a¢¢ounts in accordancc with the tertns of the Ch*iti¢s and Truslee Investment (Scotlandl Act 21105 ond th¢ Charili¢s A¢couEJts (Scotjandl Re8ulation$ 2006. The charity ttustees eonsider that the audit requithent of Regulation 10111 Id} of the A¢¢ounts R¢Eulaiions does noi apply. It 1% my regp)n4ibiliiy t<> examine the accounts as required under section 4411) 1¢) of the Act a]xi to siaie whether particular matters ha£ come to tny atteniion. Ba515 of independenl examiner's $talement An txaminatiot) is ¢aTri¢d out in acrordance with Regulation 11 of tht Chari¢ies Accounts (Scotlandl R¢gulation$ 2006. An examsnalion includes a r¢view of th¢ a¢¢ouniing I¢¢d$ kept by the charity and a ¢ornpari50n of the accounts presented with those records. It atso in¢ludes Gonsideration of any unusual items or dis¢losure5 in the accounts, and seeks explanations from the trustees concerning atjy such matters. The procedures undertaken do not provide all the evidenee that would b¢ required in an audil attd coftscquently I do noi ¢xpT¢ss an audit opinion otl the view given by the accoutlts. IDdependent tiarniner's statement In the course of my examination, no matter has come ro my att¢Thiion, whi¢h gives m¢ reasQrb1C fUU5¢ to believe that in any matcrial rcspe¢t th¢ rquireEnent5.' to k¢¢p a¢¢ounting rdS in accordancc with Section 441ill&l of th¢ 2005 Ad and Regulation 4 of the ?0( Accounts Regulation$, and to prepare accounts which accord with the arcountÉng records and comply with Regulation 9 of the 2006 Accounts Regulation5 have not been rneL or to which, tn my opinion, attention should be drAwn in order to enable a pN4)er Undetanding of the ched. 19 A¢cLiunting Lirnite 3 Melville Cr¢5¢¢ni EdiJbur8h EH3 7HW Page 3
St Giles, Herlt#%e ad Cultsre SCIO Re¢eipts and Payments Accounts Period ended 31 Decewber 2024 UDTe$tricted Restricted Funds Funds Totsl 2024 To¢g41 2023 Notes Receipts Activities for generating funds Charitable activities Bank Interest Tot41 Re¢eipt$ Paymettts Cost of charitable activittes Total Payments Net receiptsl{payments) Tronsf¢rs between funds SuTplusl(defi£it) for tbe year Page 4
St Glles, Herltage and Culture SCIO Statemtnt of Bal4Dces as #t 31 December 2024 Unrestrlcted Restrleted Fundy Funds Tot1 2024 Totgl 2023 Opening cash at bank and in hand Movement in Y¢r: Surplus1(deficit) for the year Balm¢¢s ¢8rritd forngrd Bank & Deposit BalaDces Current Accounts Balances at 31 December Other #ssets Debtors Balances at 31 December Liobililies Credilors and accruals Balances at 31 December The Accounts were approved by the Board of Trus¢¢es on........................-. .2025 For and on behalf of all the trustees Pag¢ 5