St. Mary's Parish Church, Comber Charity Number: NIC 102535 Statement of Finaneial Activities For the year ended 31 December 2023 Unrestricted funds Restricted Endowment funds funds Total fundg 2023 Prior year total funds 2022 Note Income endowJDents from: tk)nations and le¥dLies InLome from charitsble activities Other trading activities Inv[MentS Other income Total Income 145.575 13,313 3.395 2.440 3.467 16&190 4.250 149.825 13.313 3.395 4,510 3.467 174,510 148.723 9.177 1.940 2.058 2,070 6.120 16.1,4.19 Eipendlthre on: RaisinbTr liinds Expendire on charitable activities Other expenditure Tot1 ¢xp¢ndi¢ure 7.519 162,163 1,546 171J28 7.519 162.163 1,560 171.242 3.724 140.71t I 2.486 14(991 10 14 14 et Income l (expendltvrel resourtrt before tr#n•fer (3,0381 6J06 3368 16,448 Transfers Transfers between funds Net iD¢omo I lexpenditurii) rwurccs before other reco8nlsed gains 105ses 16 1296 1.972 3.208 1fi448 Other re¢ogDised g4ins I IDiie8 CJ#im% l {IoiDtLsI ()n rL'valuation, lixed as8¢ts. ch&rily's own use Net movement In fundg 1.591 3J63 335 1,926 5.194 9.206 7242 1396 Reeon¢lll•tlon of fundi: TotAI funds brought forward 16 137J26 497J.13 5,788 6411,847 633.605 Total fundg urrled fornArd 16 13&822 646.041 640J47 The statemeni of financial aclivtties includes all gains and losses recognised in the year. All income and expenditurc derive from continuing activities. 'Page 9
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Balance sheet As at 31 December 2023 Totsl funds 2023 Prior ear funds 2022 Note Flxed assets Tangible fixed assets Invesiments 14 15 404,610 71.4113 47S758 404,610 09,557 474167 CuTTent assets Cash ai bank and in hand 233.736 233.736 235.W3 23&003 LIAbllltle8 Creditors.. Amounts fulling due in one year 17 5.(K)2 4.706 4,706 Net eurrent assets less curr¢tyt114bllltles 22&734 230397 Total J8ets less ¢urrnt Ilabllldes 704,492 LIAbllllleJ Crcditors.. Amounts falling due after mor¢ than one year 17 58.786 58.786 63,617 6.1,617 TotAI tyel assets le81 Ilabllltles 041 RepregeDted by Ch*rlty Funds: Endowment Restricted UnreslriLied 16 10 16 5,7811 497.533 137.526 501.096 1.38.822 FuDd8 of the £bur¢h 041 The notes on pages I I to 19 are an intcgral part of these financial statements. The tinancial slatements were approved and authori8ed for issue by the Select Vesty on 20 March 2024. Rcverend Rector am Johnslon, id Peacock Honorary Treasurer 'Page 10
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notss to the financial ststements Year ended 31 December 2023 I, General infonnation St Mary'8 Parish Church, Comber register¢d as a Gharity with Thc Charity Commisfjion for N()rthern Ireland on 15 May 2022 (under the name 'Newtownards/Comber/St. Mary/Down & Dromorelchurch of Ireland.). Its principal place of business is The Square, CoMr. Newtownards. County Down. BT23 5DU. The nature of the charity's operations and prAn¢ipal activiti are the advancement of religion. Accounting Policies The principal accouniing policie5 adopted. judgements and key sources ofestimation or uncertainty in the prepardtion of the rinancial statements are as follows.. Basis of preparaiion Th¢ financial 4tatemenls have be¢n prepared under the Charities Act (Northern Ireland) 2(K)8 in accordanc¢ with th¢ Charitics.. StatL'ment ol. R¢commL'ndLd PTacticc applicablL to ihuriljLS prLptarin¥ thLir a¢iounl% in 8LLOTdance with the inancial Rcporting Standard appliLabl¢ in the UK and Republic of Ire1td (Tr'RS 102) - Icharities SORP (bRS 102)). the Trinancial Rcporting Siandurd appliLable in th¢ UK and Republic of Ireland (TrRS 102) and the Charities (Accounts Reports) Regulations (Northern Ireland) 2015. Si. Mary's Parish Church, Comkr meets the definition of a public benefit entity under FRS 102. A&set8 and liabilities are initially recogyni8ed at historical c05t or transaction value unless otherwise slated in the relevant accounting policy nole(s). The financial statements are presented in sterling which is ihe functional currency of the charity and rounded to the nearest £ l. b. B&8is of financial qtatemenls The account8 have been prepared on a Receipts and Payments basis. which recogniscs transactlons and events only when ash is received or paid. Preparation of the accounts on a going concern ba81$ Thc Select Ve.stry, as the Trustee body ol. St Mary's Pari8h Church, Comher, has reviewed cashflow forecasL8 for the coming ycar and are satisfied Ihal the Parish hAS rcsourccs lo provide a reasonable expectation that it can continue to meel its financial obligations as they fall due for the fores¢eable future. Accordingly, these financial statements have been prepared on a going concern basis. Legacieg Legdcies are included within Incotnc under ¢iiher unrestriLied or restricted fund5 according to th¢ tern)s under which the donation is made and when the amount h&8 been received. Tangible Fixed Assets The tangible fixed assets of the Parish. retsined for ils own use, comprise: Church Building Graveyard Parochial Hall Youth Hall Glebe Cottage RcctDry The c.hurch Building and Grdveyard are deemed tn be Heritage assets as d¢fincd by the Charitics SORP (FRS 102). These heritage assets are not included on the balance sheet as information on the cost or valuation is not available and 'Page I I
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the fujancial ststenlcnts (continued) Year ended 31 December 2023 such inforniation cannot be obtain¢d at a cost commensurate with the benefit to the users of the accounts and to the parish. The parochial hall, youth hall and Gl¢b¢ Collagr W¢T¥ built prior to 1970. There are no reliable records ofihe cost ol this construction and. integrdl lo th¢ Church building and grounds. a valudtion approaLh lacks SUlL1Lt reliability. As a resuli. these buildings are not recognised in the parish balance sheet. (Insurance values reconstruction ai £1,424.686 (2022= £1.262.181)). The rectory is recognised at its original cost of awuisition. f. FiA¢d Asset Invesmienis Fixed asset investments comprise holdings in endowment and restricted fimds bequeathed the Parish. where the underlying assets comprise liskd unil trusts and equity shares. These are stated at fair value at eaeh year end date. Financial Instruments The Parish only holds financial assets and finaiicial liabilities that qualify as basic financial instruments. Basic financial inslNm¢nts arc initially recognised at transaction valuc and subscquently measured at their settlemenl amount. Fund s1CtUre Funds are classified as either r¢stri¢tcd funds, ¢ndowmenl funds or unrestrictcd funds. These classifications are defined as follows: (i) Reslricled funds are subjeth to specific requirements as to thetr usc which may be declarcd by the donur or wilh Ihcir authority. or created through le¥al proL'e55e5, bul slill within the wider vbjeLls of Si Mary's Parish ChurLh, Cvtnber. (li) Endowment funds are funds which have been given on the ¢ondilion that thL original capithl sum is nol rcduLd, bul (h¢ inLom¢ Iheretrom is used tor the purpose detined in aicordance wilh the objects ot Si Mary's Parish Church. Comber. (iiil Unre¥triLted funds are expendahle nt the discrction of the Select Vestry in furtherAnLL of the objccts of Si Mary's Parish ChurLh. Comber. If part8 of the unre51riLled funds arc earniarked at the discretion of thc SLILLI V¢stry for a particular purpose, they are dc8ignated as a separate fund. This d¢si¥nation h&8 an administrative pury)ose only and does noi legally restrict the Select Vestry's discretion to apply the fund. 3. Critical accounting judgement% and estimation uncertatnty Estimates and judgments made in thc proce*% of pr¢paring the financial 8tst¢mcnts are Continually evaluatcd aiid are bascd on historical cxperien¢¢ and oth¢r factor5, including expeclations of fuwre events that are believed to be reasonable under the circumstances. The Select Vestry do not consider that there are any critical judgments made in applying the Pari.sh'.% accnunling policies or that there arc any critical accounting cstimates or &ksumpts'ons which may have a significant risk of causin8 a material adjustmcnt ¢0 carrying amounls ofassets and liabilities within the next Iinanlial year. 'Page 12
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements {continued) Year ended 31 December 2023 Anal Sis of income Donations and legacies Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Weekly envelopes l FWO & collections Donations General grants provided by oth¢r charities Gift Aid Tax recovered 105,734 5,707 105,734 5,707 106,176 18,235 4.250 4.250 34.134 149,825 34,134 145.575 24.312 148,7?3 4.?50 5. Charilable activities Unrestricted Funds Restricted Funds Endowment Funds Total Total 2023 2022 Fundraising Subscriptions Church hall leitings - charitable object Graveyard income 5,750 5.750 2,059 7.063 500 7,063 500 6.558 560 13,313 13,313 9,177 6. Oiher trading aclivilies Unrestricted Funds Reslricled Funds Endowment Funds Total 2023 Total 2022 Rent from land or buildings Catering 1.565 1.830 3,395 1.565 1.830 3,395 1.940 1.940 7. Investmenl income Unrestricted Fund5 Restricted Funds Endowment Funds Tothl Total 2023 2022 Bank intere5l Dividends 1,643 797 349 1.721 1,992 2,518 52 2,006 2.440 2.070 4,510 2,058 'Pag¢ 13
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Noles to the financial stalemen(s (continued) Year ended 31 December 2023 8. Oth¢r income Unrestricted Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Coronavirus Job Retention Scheme grant Energy bills relief scheme Oiher 1.510 2.399 1,068 3,467 2.399 1,068 3.467 31 541 An81 sl$ of ex endlture Raising tunds Unrestricted Funds Restricted Funds Endowment Funds Totsl Total 2023 2022 Int¢rL'St charge on loan Fund raising co8t8 3,711 3,808 7,519 3.711 3,1108 7.519 2.059 1,666 3.724 l O. Charitable activities Unrestricied Funds Restricted Funds Endowment Fulldb Totsl 2023 Total 2022 Wagcs and salaries Diocesan assessment Organist fee Repairs & maintenance Rates & water charges Heal, light & power T¢l¢phon¢, broadband and IT software Insurance 84.925 16,527 8.325 3,003 401 15.183 .023 4.688 4.239 9.042 2,571 209 5.462 3.942 2.023 84,925 16.527 8.325 3.003 401 77.244 15,371 6,870 3,606 3.543 7,686 .597 4,658 4.055 15,183 1.623 4,688 4,239 9.042 2,571 209 5,462 3.942 2.023 Health and 5afcty costs Pmfessional fees - Renovation Works Charitable donations Printing, postage and 5tation¢ry Upkeep of ground5 and graveyard OtTice & Other equipment Other expenses Preparing the rectory for fw5t occupation 2.478 253 1.622 11.798 14n,781 162 163 162,163 'Page 14
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the fllJan¢ial statem¢nts (continued) Year ended 31 December 2023 I l. Other Costs Unrestrict¢d Funds Restricted Funds Endowment Funds Total 2023 Total 2022 Bank fee.s and Charges Equipment repairs & renewals IT]dependeni examiner's report Payroll adminisiralion SLrvi¢es Sundry expense 354 14 368 338 610 338 273 300 300 300 480 74 480 840 46.3 74 1.546 14 1.560 2.486 12. Analysis of siaff costs. Irustee remuneration and expenses, and the cost of key management personnel Employ¢¢5 Total Total 2023 2022 Cler8y Stipend and Allowances Clergy penslons Staff salaries Sexton office allowance Vit+iling & relief clergy Social security costs 42,085 6,441 34.439 500 38.848 5,909 30,312 300 439 385 84,925 77.244 The averd¥e number ofemployees during the year. calculated on the basis of a head count. was as follows: 2023 2022 Ministerial staff Admini.stration There are no employees in receipt of benefits in excess of £60,000. 13. Key Management and Trustees Key manag¢menl are deemed to comprise the Truslees and who represent the Select Vestry. No irustee or a person related to a trustee had any personal interest in any contract or transaction entered into by St Mary's Parisb Church, Comber, during the year. 'Page 15
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (continued) Year ended 31 December 2023 The Reverend Sam Johnston received the following remunerntlon as approv¢d by the General Synod and implemented by the Select Vesty of St Mary's Parish Church. Comber: Total Tot21 2023 2022 Sttp¢nd Locomotory expenses Expcnscs allowance Pension contribution - employer elemcnl 37.428 7.000 800 34,337 6,590 800 3,390 3.110 Th¢ parish did not pay any expenses relalinB lo the ll1n8 Losts of the Rectory oc¢upied by the Rector. 14. Tan¥ibl¢ Fixed Assets Land & Buildings Cost At l January 2023 Additions Disposals At 31 Deccmbcr 2023 404.610 404.610 404610 404.610 15. Fixed Asset InvestmenL8 Fund to which Ille Current valuc Current value Dctails belongs 2023 2022 Units held by the Northcrn Ircland Central Investment Fund for Charities (managLd fund) Investment 6.123 5.788 Gwen Gracey Johnston Memorial Trust Investment portfolio (managed fund) 63,769 69.557 71.483 The Department for Communities hold unils in the Northern Ireland Central Investment Fund for Charilles as tru5tr¢ for four. historic, donation&Q)equL'Sts, under which dividends ther¢on are paid to Si Mary's Parish Church for disburs¢mcnl by Selecl Vesty to local charitable causes. St Mary's Parish Church is not enlitled to seek the capitsl from these donationslbequests. The investtnent portfolio represents the capital account of the Gwen Gracey Johnston Memorial Trust and comprises holdings in listed bonds and equities that are managed by an independent specialist 5erviLe provider. Si Mary's Parish Church is entltled to seek the capital from this bequest, in accordance with th¢ objectives of the Trust Deed. 'Page 16
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (continued) Year ended 31 December 2023 16. Funds of ihe Parish Gains and Losses AtlJan 2023 Incoming resources Outgoing resources Ai31 Dec Trdnsfers Endowment fllnd# Investment tund 335 6,123 6,123 5,788 335 Restrieted lunds JltrÉ'n Gra('(')? Johnston Memorial Tni.¥i Fund_ capilal Given Gracek, Johnsio M£'moriul Try.%1 FUd- inc'ume Gwen Gracey Johnston Memorial Trust Fund Development Trund Mona Grey Legacy Fund Rectory Fund Youth Fund 63.769 1.591 65,360 9,503 1,836 14 2.384 8.941 73.272 1,836 4.250 170 14 (2.384) 1.591 74.301 4.250 13,683 404.610 4.252 13.513 404.610 6,138 497,533 1.950 6.320 14 4.334 1,591 501,096 Unregtrieted f ndg Cienerul Fund 64.267 146.678 150,274 4,946 65.617 Design¢lted funds: Dcvelopmenl Fund Chariiies Fund Rcc¢or's Discretionary Fund 71.062 1.931 265 19.840 1.672 18.318 2.607 (1.063) 424 71,522 1,420 27 137,526 168.190 171228 1.18.822 646,041 Total funds 640,847 174510 171,242 1.926 Purpose of restricted funds Mona Grey l£gdCy Fund For the benefit of the youth in the Church and lo promote youth work. through worship To further the ministy in the parish Cjwen (ifdcey Johnston Memorial Trust Fund Rectory Fund Youth Fund To fund the purchase of a new rectory For youth related projects in the Pari.8h Puq)ose of unreslric*d, includin¥ designated. funds General Fund For Ihe day to day running of the Church For any major renovation or repairs necessary for the upkeep of the Church and propety For the scgregalion of charity collections pending disbursement to the relevant charitable biKIy The Rector's discretionary fund (previously known as the Parish Emergency Fund) is available to pri)vidc support / immediate help to parishioners Development Fund Charities Fund Rector's Discretionary Fund 'Page 17
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (continued) Year ended 31 December 2023 17. Creditors 2023 2022 Bank loan: AmounL8 falling due in one year Amounts falling due aft¢r more than one year 5.002 4.706 58.786 63.617 68.323 On 19 November 2008 81 Mary's Parish Church, Comber rdised a bank loan of £250,(K)O to part fund thc major building works comprising the Souih Transept. Repayments commenced on 31 D¢cember 2(M)il and will continuc until 30 Nov¢mbcr 2033. The loan is unsecured and ¢arries interest al l O/¥ over base rate. The bank loan is recorded within the pari%h's Development Fund. 18. Collections for Third Partics 2023 2022 Leprosy Mission NeWtowndS Foodbank Royal British Legion Macmillan Cancer Support Alzhcimer's Society in Nonhcrn Ireland 930 783 332 326 332 651 Church Mission Swiety Ireland The NF.T, Comber Motor Neurone Disease Association 242 922 {Nl) The Bishop's appeal 307 225 The collections for third parties wwe lodged to the Charities Fund Ind disbursed on approval by the Select Vesty. 19. Renovation Works The following exp¢nditure has been incurred to date on the Bell Tower Renovation Works. and comprises architectural and other prolc55Lonal scrvices: Total 2023 Total 2022 Coljdition Report for the Bell Tower Listed Building Conscnt from Historic Environment Division and technical support on grant applications Technical support on grant application work 5.622 900 'Page 18
St. Mary's Parish Church, Comber Charity Number: NIC 102535 No*s to the financial sthtements (continued) Year ended 31 December 2023 20. Taxation St Mary'$ Parish Church, Comber is reCOAlsed as a charity for the purposes of applicabl¢ taxation legislation and is therefore not subject to taxalion on its charitable activilies. 21. Retirement benefit schemes St Mary's Parish Church. Comber operates a defined contribution scheme. the Church of Ireland Clergy Pension Fund. for the Rector and other qualifying ststTare enrolled into the government's National Employment Savings Trust (NEST) workplace pension scheme. The a55ets of the schemes are held separately fft)m those of the Parish in an independcntly administered fund. 'Page 19