St Magnus Episcopal Church: Lerwick
Latest income
£191k
Latest spending
£45k
Accounts read
FY2025
Financial health, per FY2025 accounts
The accounts state that the charity reported a deficit of £4,069.89 for the year, though it maintained an end-of-year cash balance of £45,774.77. The trustees acknowledge pressing needs for substantial expenditure on building repairs identified by architects' inspections. The charity's income is primarily dependent on donations, with no Gift Aid tax reclaimed during the year.
What the accounts disclose
Going concern: doubt noted
“The trustees continue to be aware, however, in the light of architects’ quinquennial inspections of the church, rectory and church hall, of pressing needs for substantial expenditure on repairs to the charity's buildings.”
Per FY2025 accounts as filed with OSCR.
Related-party transaction: The charity contributes to the Diocese and Province through an annual quota. The Diocese provides central support services and pastoral oversight.
“St Magnus is assisted by the SEC at Diocesan and Provincial levels through the pastoral oversight of the Bishop of Aberdeen and Orkney, provision of central support services, and access to grants and loans from central funds. In return, the church has an obligation to contribute, in proportion to its income, to the running costs of the Diocese and Province through payment of an annual quota.” — page 2
Per FY2025 accounts as filed with OSCR.