Diocese of Brechin
Latest income
£276k
Latest spending
£322k
Accounts read
FY2024
Financial health, per FY2024 accounts
The accounts state that the Diocese achieved a general fund surplus of £25,455 for the year ended 30 November 2024, driven by underspends and increased investment income from the SEC Unit Trust Pool. The Diocesan Council considers unrestricted reserves adequate to maintain current activities for a reasonable period, noting that underlying costs exceed grants and quota received, requiring the prudent use of reserves to support mission and ministry. The independent auditor confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
Related-party transaction: Loan to St Margaret's Care Home
“In February 2024 Diocesan Council was approached by the Trustee’s of St Margaret’s Care Home in Dundee with a request to consider the advancement of a loan of up to £100,000 in order to assist with the orderly wind down of the home which the Trustee’s had decided to close. Given the close connection between the Diocese and the home, Diocesan Council agreed to the request with interest being paid on demand or when the home was sold. This matter was concluded in late July 2024 when the original loan together with the interest due, was repaid to the Diocese.” — page 6
Per FY2024 accounts as filed with OSCR.