St. Mary's Parish Church, Comber Charity Number: NIC 102535 Statement of Financial Activities For the year ended 31 December 2024 Unrestricted fllnds Restricted Endowment funds funds Total fund$ 2024 Prior year total funds 2023 Note Income and endowments from: Don2tions and legacies Income from charitablc activities Other trading activities Investments Other income Total Income 240.708 15.511 3205 4.834 485 261743 240,708 15,511 3,205 7,269 485 267,178 149.825 13,313 3.395 4.510 3,467 174,SlO 2.435 2.435 F.xpenditure on: Raising funds Expenditure on charitable aclivilics Other expenditure Tot41 expenditure 6.379 191.155 3,572 2111,106 6,379 191,155 3,591 201,125 7,519 162,163 1,560 171,242 10 19 19 Net income l (expendlture) resourc before transfer 63,637 1416 66,053 3.268 Transfers Transfers between funds Net Ineome l (expendllvre) resourceg before otber re¢ogntsed galns and 1055es 16 72314 (6,161) 66,OS3 3,268 Other re¢ognlsed galns I losses Gains / (losses) on revaluation. fAxed as1 charity's own use Net movement In funds 3,252 (2,909) 209 209 3,461 69,514 1.926 5.194 72,214 Reconclllatlon of funds: Total funds broughi forTvard 16 IW22 501,096 6,123 646,041 640,847 Total funds carrted fornard 16 211036 49 187 32 715555 The statement of financial activities includes all gains and losses regnIsed in the year. All incorne and expenditure derive frorn continuing activities. Page 9
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Balance sheet As at 31 December 2024 Total fund% 2024 Prlor ear funds 2023 Note Flxed assets Tangible fixed asseLy Invcslments 14 15 404,610 74,944 479,554 404,610 476,093 Current assets Cash at baDk and in hand 294,111 294Jll 233,736 233,736 Llabilltles Crcditors.. Amounts falling du¢ in one ycar 17 5,002 5,002 4.932 Net current assets le88 ¢Tr¢t Ilabllltles 289J79 228,734 Total assets le currtnt Ilabllltles 768,933 704,827 Llabllltles Creditors.. Amounts f18 due after more than one year 17 53J78 58,786 Total net assets less Ilabllltles 71S555 646 04] Reprttenled by Charfity Fund$: Endowment Restricted Unrestricted 16 16 16 6,332 498.187 211.036 6,123 501,096 138,822 Funds of the cburch 715 SSS 646 041 Tbe notes on pagcs I I 19 are an m1¢g part of these financial staiements. The financial statements were a and authorised for issue by the Select Vesty on 12 March 2025. Reverend S Rector Johnston. Dav Peacock Honorary Treasurer Page 10
St. Mary's Partsh Church, Comber Charity Number: NIC 102535 Notes to the financial statements Year ended 31 December 2024 General infornMtion St Mary's Parish Church. Comber registered as a chartty with The Charity Commission for Northern Ireland on 15 May 2023 (under the name 'NewtownardOComberlSt. Mary/Dovrn & Dromorelchurch of Ireland,). Its principal place of business is The Square, Comber, Newtownards, County Down, BT23 5DU. The nature of thc charity's operations and principal activities are the advancement of religion. Accounting Polici¢s The principaI accowiting policio8 adopte judgements and key sources of estimation or uncertainty in the preparation of the fjnancial statements are as follows.. Basis of preparation The financial statements have been prepared under th¢ Charities Act (Northern Treland) 2008 in accordance with the Charitics.. Statement of Recommended Practice applible io charities preparing thcir accounts in accordance with the Financial Reporting Siandard app1]ble in the UK and Republic of Ireland (FRS 102) - (Charities SORP (PRS 102)), the Financial Reporting Siandard app1]ble in the UK and Rcpublic of Ireland (FRS 102) and the Charitie5 (Accounts and ReporLs) Regulations (Northern Ireland) 2015. St. Mary's Parish Church. Comber meets the definition of a public benefit entity undcr FRS 102. Assets and liabiliti&s aTC initially recognised at historical cost or transaclion valuc unless othenvise statcd in the relevani accounting policy notc{s). The financial statements are presented in sterling which is the fijnctional currency of the cbarity and rounded the neareqt £1. b. Basis of financlai statements The accounts have been prepared on a Receipts and Payments basis, which recognises transactions and events only when Gash is received or paid. Preparation of the accounts on a going concern basis The Select Vesty, as the Trustee body of St Mary's Parish Church, Comber, has reviewed cashflow forecasts for the coming year and are satisfied that the PaTish has resources to provide a reasonable expectation thal it can continue to rneet its fancial obligations as th¢y faIl due for the foreseeable future. Accordingly. these financial statements have been prcpared on a going concern basis. d. Legacies Legaeies are included within Income under either unrestri¢ted or restricted funds a¢cording to the temis under which the donation is made and when the amount has becn received. Tangible Fixed Assets The tangible fixed assets of the Parish. retained for its own use, comprise: Church Building and Graveyard Parochial Hall Youth Hall Glebe Cottage Rectory The Church Building and Grdveyard are deemed to be Heritage assets as defined by the ChaTities SORP (FRS 102). These heritage assets are not included on the balance shett &$ inforn]ation on the cost or valuation 15 not available and Pagell
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the fllwicial statements (continued) Year ended 31 December 2024 such iDforniation cannot be oblained at a Cost commensurate with the benefit to the users of tbe aCCOUDts and to the parisb. The parochial hall. youth hall and Glebe Cottage were built prior to 1970. There are no reliable records of the cost of this constrnction and, integrdl to the Church building and grounds. a valuation approach lack8 sufficient reliability. As a resulL these buildings are not recognised in the parisb balance sheeL Onsurdnce values reconstruction at £2.52m (2023.. £2.40m)). Thc rectory is rccognised al its origmal cost of acquisition. f. Fixed Asset Investments Fixed asset investments comprise boldings in endowment and restricted funds bequeathed to the Parish, where the underlying assets comprise lisled unjt tnts and equity shares. These are stated fakr value at each year end datc. g. Financial Instruments The Parish only holds financial assets and financial liabilities thai qualify as basic financial instruments. Basic fInela1 instruments are initially recognised at transaction value and subsequently measured at their settlement amount. h. Fund Structure Funds are classified as either restricted funds, endowment fimds or unrestricted nds. These classific&tions are defined a8 follows.. (i) Rcstrieted funds are subject to sp¢cific requireMets &8 to their usc which may be declared by the doDor or with their authority, or created through legal processes, but still within the widcr objects of St Mary's Parisb Church. Comber. (li) Endowment funds are tunds which have been given on the o)ndition that the original capital sum is not reduccd, but the income therefrom is used for the purpose defined in accordance with the objects of Si Mary's Parish Church, Comber. (iii) Unr&qtrictcd funds are expendable at the discretion of the Sele¢t Vesty in fiwtherance of the objects of St Mary's Parish Church, Comber. If parts of the unrcstr1cd funds are eamarked at the discretion of the Select Vesty for a p&rticular purpose, they are designai¢d as a scparak fund. This designation bas an administrdtive PUTpose only and does not legally restrict the Select Vestry's discretton to apply the fund. 3. Critical accountins Judgements and estintiOn uncertainty Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be rcasonable under the circumstances. The Select Vesty do noi consider that there are any critical judgments made in applying the Parish's accounting policies or that thcrc are any eritical accounting cstimatcs or &ssumptions which may have a significant risk of causing a rnateriaI adjustment to carying amounts of asscts and liabilities within the next fjnancial year. Page 12
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (continued) Year ended 3 l December 2024 Anal sis of income 4. Donations and legacies Unrestricted Funds Restricted Funds Endowrnent Funds Total Total 2023 2024 Weekly envelop l FWO & collections 114.744 86.128 10,O(Kl 29,836 114,744 86,128 10,000 29.836 105,734 5.707 Donations Legacies Gift Aid Tax rccoveTed G¢neral grants provided by other ¢hariti¢s (as a contribution towards thc costs of the Bell Tower repair schcme) 34,134 240.708 240,708 149,825 5. Charitable activitics Unrestricted Funds Restricted Funds Endowment Funds Total Total 2024 2023 Fundraising Subscriptions Church hall lettings - charitable object Graveyard income 10,296 10,296 5,750 4,965 250 4,965 250 7.063 500 15,511 15,511 13,313 6. Other trading activities Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Rent from land or buildings Catering 2.105 1,100 2.105 1,565 7. Tnvestment income Unrestricted Funds Restricted Funds Endowment Funds Total Total 2023 2024 Bank interest 3.984 850 720 1,715 4,704 1.992 2,518 Dividends Page 13
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial slatements (continued) Year ended 31 December 2024 8. Other income unrestrlcd Funds Restricted Funds Endowment Funds Total Total 2023 2024 Encrgy bills relief scheme Other 2,399 1,068 485 485 485 485 Anal sls of ex endlture 9. Raising funds UnTestric*d Funds Restricted Funds Endowment Fund5 Total Total 2024 2023 Interest charge on loan Fund raising costs 3,733 2,646 6.379 3,733 3,711 7,519 10. Charitable activities UnrestTiCted Fun<ts Restricted Funds Bndowment Funds Total 2024 Total 2023 Wages and salaries Dioc¢san assessment Organist fee RePaS & maintenance - GeneTal Repllrrn & maint¢nancc - Renovation 90.111 15,461 7,875 3.698 90.111 15,461 7,875 3.698 84,925 16,527 8,325 3,003 works Rates & water char8¢S Heat. light & power Telcphonc. broadband and IT software Insurance 19 32.502 1.781 9,847 2.180 4.918 2,719 14,238 2.124 636 32,502 1.781 9,847 2,180 4,918 2,719 14,238 2,124 636 401 15,183 1,623 4,688 4.239 9,042 2,571 209 5,462 3.942 2.023 162,163 Health and safety costs Professional fees- Renovation Works Charitable donations Printing, postage and stationery Upkeep of grounds and graveyard Office & Other equipment Other cxpenses 19 639 639 752 752 1.674 191 155 191 155 Page 14
St. Mary's Parish Church, Comber Charity Numbcr: NIC 102535 Notes to the financial statements (conlinued) Year ended 31 December 2024 I l. Other costs Unrestricted Fun(Ls Restricted Funds" Endowmcnt Funds Total Total 2023 2024 Bank fees and charges Equipment repairs & renewals Independent examiner's report Payroll athninistration services Sundry expenses 387 19 406 1,959 300 708 368 1,959 300 338 300 708 480 218 218 74 3.572 19 12. Analysis of staff costs. Ifusice remuneration and expenses. and the cost of key management personnel Employecs Total 2024 Total 2023 Clergy Stipend and Allowances Clergy pension contributions Staff salaries Staff pension ¢ontributions Sexton 01¢¢ allowance Visitiog & relief clergy Social security costs 47,499 5,853 34,317 175 45,136 3,390 34,439 300 518 500 385 The average number of employees during the year. calculated on the b&qis of a head counL was follows.. 2024 2023 Ministerial staff Administration There are DO employees in [c]pt of benefits in excess of £60,(KK). 13. Key Management and Trnstees Kcy managernent are dccmed to comprise the Truste&8 and who represent the Select Vestry. No tntstee or a person relatcd to a trustee had any personal interest in any contract or transaction entered into by St Mary's Parish Church. Cornber, during the Page 15
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (continued) Year ended 31 December 2024 The Reverend Sam JohDSton received the following remuneration as approved by the General Synod and itnplemented by the Select Vestry of Si Mary's Parisb Church. Comber: Total Total 2024 2023 Stipend Locomotory cxpcnses Expense5 allowance Pension contribulion (including insured death in s¢rvi¢e benefit) 39.651 7,000 800 37.428 7,000 800 5,853 3.390 The parish did not pay any expenses rclth'ng to the running costs of the Rectory o¢cupied by thc Rector. 14. Tangible Fixed Assets Land & Buildings TotaL Cost At l January 2024 Additions 404.610 404,610 Di.8posals At 31 December 2024 404610 15. Fixed Asset Inves(ments Fund to which the &sset belongs Current value CurTent value Details 2024 2023 UnAts held in thc Northcrn Ireland Central InvuLm¢nt Fund for Charities (managed fimd) Investment 6.332 6,123 Gwen Gracey JoESE0n Memorial Trnst Investment portfolio (managed fund) 74,944 71,483 The Department for Communities hold units in the Northern Ireland Central Investment Fund for Charities as trustee for four, historic, donationsn)cqucsts under which dividends thcrcon arc paid to Si Mary's Parish Church for disburscment by Select Vesty to local charitable causes. St Mary's Parish Church is not entitlcd to seek the capital frorn these donationslbequests. The investment portfolio repTC5ents the capital accounl of the Gwen Gracey Johnston Memorial Tnl and comprises holdings in listed bonds and equities that are managcd by an independenl specialist service provider. St Mary's Pari.8h Church is entitled to seek the capital from this bequ¢sL in accordance with the objectives of the TrSt Deed. Page 16
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the financial statements (conlinued) Year ended 31 December 2024 16. Funds of the Parith Gaitis and Losses Atljan 2024 IncoTning resourcc5 Outgoing At31Dc 2024 Transfer5 Endowment funds Investment fund 209 209 RestTlcÉed fund5 Gwen Graeey Johnston Memorial Tivst Fund- capital Gwen Gracey Johnslon Memorial Tnui Fund- income Gwen Grae¢y Jolmston Memorial Trust Fund Developmeni Fund Mona Grey Legacy Fund Rcctory Fund Youth Fund 65.360 3,252 08.612 8.941 2,108 19 309 10,781 74.301 4.250 13,683 404,610 2,168 (19) (309) (4.250) 3.252 79.393 228 13,911 404,610 273 39 501,096 2,435 19 498 187 Unrestrlcted funds General Fund 65,617 152,673 (148,567) 3,000 72,723 Designated fiwds: Development Fund Charities Fund Rector's Discretionary Fund 71,522 1.420 263 111,377 693 {50,532) (1,976) 31 4,544 1,010 23 136,911 1,147 255 138,822 264,743 201 106 8.577 211036 Total funds 201 125 715 555 Purysose of restricted funds Mona Grey Legacy Fund For the benefit of the youth in the Church and to promote youth work, through worship To firther the ministy in the parish Gwen Gracey Johnston Memorial Trust Fund Rectory Fund Youth Fund To fund the purchase of a new rectory For youth related projects in the Parish Purpose of unrestrieted. including designated, funds General Fund For the day to day running of the Church For any major renovation or repairs necessary for the upkcep of the Church and property For the segregation of charity collections pending disbursement to the relevant clwitable body The Rector's dlscretionary fund (previously known as the Parish Ernergen Fund) is available to provide support l immediate help to parisbioncrs Development Fund chariti Fund Rector's Dis¢retionary Fund Page 17
St. Mary's Parish Church, Comber Charity Number: NIC 102535 Notes to the fllwi¢ial statements (¢ontinued} Year ended 31 December 2024 17. Creditors 2024 2023 Bank loan: Amounts falling due in one year Amounts falling due after more than one year 4,932 5,002 On 19 November 2008 Si Mary's Parish Church, Comber raised a bank loan of £250,000 to part fund the major building works comprising the South Transept. Repayments commenced on 31 December 2(K)8 and will continue until 30 November 2033. The loan is unsecured and carries interest at l % over b8se rdte. The bank loan 18 recorded within the parish's Development Fund. 18. Collections for Third Parties 2024 2023 Lcprosy Mission The NET, Comb¢r s¢ John'5 Ambulance Mcf)crmolt Cancer UniL Ulster Elospital Bishop's Appeal (Maridi) Newtownards Foodbank 694 930 489 180 311 450 332 Royal British Legion Macmillan Cancer Support Al£hcim¢r's SoGiGty in Northcrn Ireland 326 332 651 Th¢ collections for third parties were lodgcd to the Charities Fund and disbursed on approval by the Select Vestry. Page 18
St. Mary's Parish Church, Comber Charity Numbcr: NIC 102535 Notes to thc finaDcial statements (continued) Year ended 31 December 2024 19. Renovation Works The following expenditure has been incurred to date on Renovation Works for the Bell Tower repair scheme, including architectural and other professional services.. Total Total 2024 2023 Nature of the expenditure incutTed: Professional fees.. Specialist architectural sery1. Condition Report for thc Bell Tower Listed Building Consent from the Historic Environment Division for the repair scheme to the Bell Tower Technical specification document for the Bell Tower repair scheme and tender prOS Techni1 support on grant application work Contract documenlation (JCT Minor Works) for the Bell Tower repair scbeme 5.622 900 12.758 1.080 2.520 400 Repair Scheme Labour & Materials: Erection of safety netting around the Bell Tower Stone materials, dressin8 and painting Refurbislunent of the louvre windows Fencing and balerS around work sitc Erection and maintenance of s¢affolding Ele¢trical safety work Health & Safety signage 2.976 13,707 814 167 14,400 215 223 46.740 9,042 Funded by". Benefact Trust grdnt award Own resources 4.250 9,042 20. Tati0Th St Mary's Parish Chureh. Comber is recognised as a charity for the pu)OseS of appIicable tsxation legislation and is therefore not subject to taxation on its charitable aclivittes. 21. Retirement benefit schemes St Mary's Partsh Church, Comber operdt¢s a defined contribution scheme. the Church of Ireland Clergy Pension Fund. for the Rector and other qualifying staff arc CTJrolled into the government's National Employment Savings Tnt (NEST) workplace pension sGheme. The assets of the schemes are held sq)aratrly from those of the parish in aD independently administered fund. Page 19