Presbyter an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2022 Income from: Donations and grants Investments 185,505 1,365 58,949 796 244,454 2,161 238,471 2,081 Total 186,870 59,745 246,615 240,552 Expenditure on: Charitable activities Other 156,312 14,003 46,609 63,448 202,921 77,451 190,595 76,365 Total 170,315 110,057 280,372 266,960 Net gains/l105ses1 on investments {8,761) (8,7611 12,152 Net Income /{expenditure) 16,555 (50,312) (8,761) (42,518) 114,256) Net movement in funds 16,555 (50,312) (8,761) 142,518) 114,256) Reconciliation of funds: Total funds brought forward 93,512 3,435,191 106,577 3,635,280 3,649,536 Total funds carried forward 110,067 3,384,879 97,816 3,592,762 3,635,280 13
Presbyter an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland BALANCE SHEET As at 31 December 2022 2022 2021 Fixed assets: Tangible assets 3,376,277 3,436,365 Investments 97,816 106,577 Total fixed assets 3,474,093 3,542,942 Current assets Debtors 41,408 45,628 Cash at bank 10 85,329 53,565 Total current assets 126,737 99,193 Liabilities: Creditors: Amounts falling due within one year 11 (8,068) {6,855) Net current assets 118,669 92,338 Total assets less current liabilities 3,592,762 3,635,280 Net assets 3,592,762 3,635,280 14
Presbyter an SAINTFIELD ROAD pREsBER1AN CHURCH a Congregation of The Presbyterlan Church In Ireland BAIANCE SHEET (cont'dl As at 31 December 2022 2022 2021 Funds of the charity Endowment funds 12 97,816 •.*.,..106,577 Restricted income funds 12 3,384,879 3,435,191 ¥... Unrestricted funds 12- 110,067 93,512 Total charity funds 3,592,762 3,635,280 The financial statements have been prepared in accordance with the provisions under Section IA of FRS102-"The Financial Reporting Standard applicable in the UK and Republic of Ireland" x¢z3 Ross Withers ACA (Treasurer) Date 15
Presbyter an SAINTFIELD ROAD PRESBYTERIAN CHURCH , a Congregatlon of The Presbyterlan Church In Ireland i;: They have been approved by the Kirk Session at a meeting on 20 April 2023 and signed on th , its behalf on 25 June 2023 by Rev Ben Walker (Minister) ?1 Dr. Alistair Mccracken (Clerk of Session) 16
Presbyter an SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS - 31 December 2022 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland {effective l January 2019) and section IA of FRS 102 The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the congregation is responsible in law. They do not include the account5 of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. The church meets the definition of a public benefit entity as defined in section 34 of FRSIO2. In the opinion of the Trustees, there are no significant judgements, assumptions or estimates included in the financial statements, other than those described in the accounting policies below. FUND ACCOUNTING Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's discretion. The income derived from the endowments is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment wa5 established in the first place. Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (bl revenue donations or grant5 for a specific congregational activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual fund5 on an average balance basis. 17
Presbyter an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 ACCOUNTING POLICIES (cont'd) Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated funds are general funds set aside by the Trustees and Congregational Committee for use in the future. INCOMING RESOURCES (i) Recognition of incoming resources These are included in the Statement of Financial Activities (SOFA) when: the congregation becomes entitled to the resources. it is probable that the funds will be received; and the monetary value can be measured with sufficient reliably. (li) Incoming resources with related expenditure Where incoming resources have related expenditure (as with insurance proceeds) the incoming resources and related expenditure are reported gross in the SOFA. (iii) Grants and donations Grants and donations are only included in the SOFA when the congregation ha5 unconditional entitlement to the resources. (iv) Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA in the same period as the gift to which they relate. {v) Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered and all performance conditions met. 18
an SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 ACCOUNTING POLICIES {cont'd) (vi) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vii) Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. {viii) Investment income This is included in the accounts in the period to which it relates. (ix) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES (i) Liability recognition Liabilities are recognised as soon as there 15 a legal or constructive obligation committing the congregation to pay out resources. (li) Governance costs These are shown within charitable activitie5 and include the costs of preparation and examination of accounts, the c05t5 of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. 19
Presbyter an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 ACCOUNTING POLICIES (cont'd) (iii) Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. (iv) Grants payable without performance conditions These are only recogni5ed in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. (v) Support costs Support costs include central functions and have been allocated to activity C05t categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ASSETS (i) Tangible Fixed Assets Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is recorded on all tangible fixed asset5 Other than freehold land, at rates calculated to write of the cost, less estimated residual value, of each asset over its expected useful life as follows Buildings: Fixtures, fittings and equipment: over 100 years between 5 and 20 years 20
Presbyter an SAINTFIELD ROAD PRESBYfERIAN CHURCH Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 ACCOUNTING POLICIES {cont'd) (li) Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. DONATIONS AND LEGACIES Donations and gifts Gift aid Grants Loose collections Misc. income 146,409 28,856 3,437 923 5.880 51,151 7,798 197,560 193,150 36,654 38,650 3,437 5,063 923 600 5,880 1,008 185,505 58,949 244,454 238,471 21
an SAINTFIELD ROAD PRESBITERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont:d) 31 December 2022 CHARITABLE ACTIVITIES li li General Assembly assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to missions and cha rities Governance costs 15,749 1,381 111.667 25,305 15,749 1,381 111,667 25,305 15,405 1,286 106,550 23,993 46,609 46,609 2,210 41,435 2,016 2,210 156,312 46,609 202,921 190,595 Fees payable to the church's independent examiner were £2,20012021 £2,100). The independent examiners also provided payroll processing at a c05t of £1,32812021 £5001. OTHER EXPENDITURE Depreciation Property expense5 Other costs 63,448 63,448 62,489 2,911 10,965 14,003 14,003 14,003 63,488 77,451 76,365 22
Presbyter an SAINTFIELD ROAD PRESBITERIAN CHURCH Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) 31 December 2022 EMPLOYEES Employment Costs 2022 2021 Stipend and Salaries 87,747 83,252 Social Security Costs 5,027 4,668 Pension contributions 12,211 11,938 104,985 99,858 Number of Employees The Minister is an office holder and not an employee. He receives a stipend from the Presbyterian Church but this, and a550ciated costs including pension, are reimbursed by the conEre8ation. For the purposes of these accounts, the stipend of the minister is included in employee costs. The average number of employees during the year, including the minister of the congregation, was 2022 2021 Average number of employees There were no employees in receipt of employee benefits in exce55 of £60,000 (2021: none) 23
an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) 31 December 2022 Two trustees were in receipt of remuneration, including a stipend, during the current year 12021: 2) in relation to their engagement as minister and employment as director of youth ministries respectively. The total of such remuneration during the year, excluding pension and social security costs, were as follows: 2022 2021 Ben Walker {Minister} Johnny Bell (Director of Youth Ministries) 37,233 36,414 30,054 27,899 67,287 64,313 No trustees received remuneration in their role as trustee (2021: none). The above trustees also received expenses reimbursed during the year as follows: 2022 2021 Ben Walker (Minister) Johnny Bell (Director of Youth Ministries) 6.382 1,317 6,242 1,454 7,699 7,696 These expen5e5 were in relation to their respective role as minister and employee of the church. No trustees received reimbursement of expenses in their role as trustee12021: none). PENSION COSTS The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme {20091. This is a scheme operated by the Presbyterian Church in Ireland, a separate 24
an SAINTFIELD ROAD pREsBER1AN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 registered charity. The congregation pays an assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme and based on the Stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme {2009} is a funded Scheme of the defined benefit type, providing defined benefits based on career average re-valued salary. The Scheme has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future obligations. The Presbyterian Church has agreed to contributions of 24°A of pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit. As it is not possible to separately identify the assets and liabilities of the scheme that relate to Saintfield Road Presbyterian Church, the scheme has been accounted for as a defined contribution scheme, in accordance with the provisions of section 29 of FRS 102. The contributions made by the congregation toward5 the pension of the Minister during the year were 2022 2021 Contributions 8,936 8,739 Two employees of the church are enrolled with the National Employment Savings Trust, an occupational pension scheme, and the congregation makes a contribution towards their pensions. The congregation also contributes to a private pension scheme for one of its employees. The pension charge represents the contributions paid during the year. 2022 2021 Contributions 3,275 3,199 There were no contributions out5tanding12021.. £nill to either scheme at the year end. 25
an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2021 TANGIBLE FIXED ASSETS Cost or valuation At l January 2022 Additions 3,641,572 3,360 167,490 3,809,062 3,360 At 31 December 2022 3,644,932 167,490 3,812,422 Depreciation At l January 2022 Charge for year 270,692 36,416 102,005 27,032 372,697 63,488 At 31 December 2022 307.108 129,037 436,145 Net Book Value At 31 December 2022 3,337,824 38,453 3,376,277 At 31 December 2021 3,370,880 65,485 3,436,365 INVESTMENTS 2022 2021 Value at l January 2022 Gain/(Lo551 on revaluation 106,577 (8,761) 94,425 12,152 Value at 31 December 2022 97,816 106,577 The investments are held, and managed, on behalf of the congregation in the General Investment Fund of the Presbyterian Church in Ireland. 26
Presbyter an 5AINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 DEBTORS 2022 2021 37,597 39,164 3,811 6,464 Gift Aid Recoverable Prepayments 41,408 45,628 10. CASH AT BANK AND IN HAND 2022 85,329 2021 53,565 Cash at bank 85,329 53,565 11. CREDITORS: amount falling due within one year 2022 8,068 2021 6,855 Accruals 8,068 6,855 27
an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 12. FUND BALANCES AND RECONCILIATION OF FUNDS Balance atljan 2022 Balance at 31 Dec 2022 Fund Income Expenditure Gains/losses Transfer Unrestricted funds General fund 93,512 93,512 186,870 186,870 1170,3151 1170,315) 110,067 110,067 Restricted funds Property reserves fund Support fund 3,393,216 37,529 {63,448} 146,087) 3,360 13,3601 3,333,128 46,643 58,561 Other funds 4,446 1,184 3,435,191 59,745 (5221 (110,057) 5,108 3,384,879 Endowment and investment funds Funds 106,577 106,577 (8,761) {8,761) 97.816 97,816 Total funds 3,635,280 246,615 (280,372) {8,761) 3,592,762 28
an SAINTFIELD ROAD PRESBYtERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (cont'd) 31 December 2022 Tangible Fixed Assets Investments Current Assets Creditors.. Due within one year 3,376,277 3,376,277 97,816 126,737 (8.068) 97,816 113,802 13,735) 12,935 (4,3331 110,067 3,384,879 97,816 3,392,762 Unrestricted funds These funds are available for the continuation of the church's activities, without restriction. Restricted funds Property reserves These funds arose on the donation of the church as a gift to the congregation, and on subsequent revaluation on transition to FRSIO2. Supportfund These are funds available for use in the areas of major property maintenance, capital expenditure and mission and outreach activities. Otherfunds These are small restricted funds belonging to variou5 church organisations. Endowment funds These are funds arising from endowment investments and managed, on the church's behalf, by the Presbyterian Church in Ireland. 29
an SAINTFIELD ROAD PRESBYfERIAN CHURCH a Congregation of The Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {cont'd) . 31 December 2022 13. RELATED PARTY TRANSAcfioNS During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: £15,74912021: £15,405) for congregational assessments £12,000 (2021: £12,500) towards the PCI United Appeal £2,89312021: £3,154) towards the PCI World Development Appeal The congregation contributed £1,381 (2021: £1,286) towards Presbytery Assessments during the year. The total amount of donations received in year from Trustees without conditions attached to them were £34,423 (2021; £32,743). 14. COMMITMENTS In 2017, the church committed to support the work of a member and his family overseas. The church decided to continue this for a further period to the end of December 2027. 30