an
Saintfield Road Presbyterian Church
a congregation of the Presbyterian Church in Ireland
Trustees. Annual Report and Flnancial Statements
for the year ended 31 December 2023
Reglstered with the Charfty Commlsslon for Northern Ireland NIC104268

an
SAINTFIELD ROAD PRESBYfERIAN CHURCH
a Con8regatlon of The Presbylerlan Church In Ireland
STATEMENT OF FINANCIAL AcfiviTY
for the year ended 31 December 2023
Income from:
Donations and grants
Legacies
Investments
163.323
127.242
1,315
72.530
235.853
127.242
2.081
244,454
2,161
Total
291,880
73.296
365.176
246,615
Expenditure on:
Charitable artivities
Other
162.403
8,069
48.249
76.249
210,652
84,318
202,921
77,451
Total
170.472
124.498
294,969
280.372
Net gainslllosses) on
Investments
8.852
8.852
(8,761)
Net Income /lexpendlture}
121,408 (51.2021
8.852
79,059
142,518)
Transfer Between Funds
{47,857)
47.857
Net movement In funds
73,551
(3.3451
8,852
79.059
(42,518)
Reconciliation of funds:
Total funds brought fonNard
110.067 3.384,879 97,816 3.592,762 3,635,280
Total funds carrled forward
183,618 3,381,534 106,669 3,671.821 3,592,762
li

Presbyter
an
SAINTFIELD ROAD PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterlan Church In Ireland
BALANCE SHEET
As at 31 December 2023
2023
2022
Fixed assets:
Tangible assets
3.355,975
3,376,277
Investments
106.669
97,816
Total fixed assets
3.462,fA4
3.474,093
Current assets
Debtors
35.021
41.408
Cash at bank
io
185.525
85.329
Totsl current assets
220,546
126.737
Uabllftles:
Creditors: Amounts falling due within one year
li
111.369)
{8,0681
Net turrent assets
209.177
118,669
Total assets less current Ilabllltles
3,671,821
3,592,762
Net assets
3,671,821
3.592,762
12

an
SAINTFIELD ROAD PRE5BYfERIAN CHURCH
a Congregation of The Presbyterfan Church in Ireland
BALANCE SHEEf Icont'd)
As at 31 December 2023
2023
2022
Funds of the charlty
Endowment funds
12
106.669
97.816
Restricted income funds
12
3,381,534
3.384,879
Unrestricted funds
12
183,618
110.067
Total charfty funds
3,671.821
3.592,762
The financlal statements have been prepared in accordance with the provisions under
Section IA of FR5102- Yhe Financlal Reporting Standard applicable In the UK and Republic
of Ireland".
Ross Withers ACA (Treasurer)
Date
13

an
SAINTFIELD ROAD PRE58YfERIAN CHURCH
a Congregatlon of The Presbyterlan Church In Ireland
They have been approved by the ￿1rk Se55knn at a meetln8 on 21V March 2024 and signed
on its behalf on 19th July 2024 by
Dr. Allstair Mccracken (aerk of Session)
14

an
SAINTFIEID ROAD PRESB YfERIAN CHURCH
a Congregatlon of The Presbyterian Church In Ireland
NOTES TO ThE ACCOUNTS
31 December 2023
AccouKllNG POLICIES
BASIS OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with Accountin8 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 financlal statement5 have been prepared under the hlstorical 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 responsiblc in law. They do
not include the accounts of church group5 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 AccouMfiNG
Endowment funds are funds, the capital of which must be retained either permanently or at
the congregation's discretion. The income derNed from the endowments is to be used
either as restricted or unrestrlcted Income funds depending upon the purpose for which the
endowment was established in the first place.
Restricted funds comprise (al income from endowments which is to be expended only on
the restricted purposes intended by the donor and (b) revenue donations or grants for a
speafic congregational activity intended by the donor. Where these funds have unspent
balances, interest on their pooled investment is apportioned to the individual funds on an
average balance basis.
15

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SAINTFIELD ROAD PRESBYfERIAN CHURCH
Con8re8atlon of The Presbyterlan Church In Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
ACCOUNTING POUCIES {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 bythe Trustees and Congregational
Committee for use in the future.
INCOMING RESOURCES
(11 Recognltlon of Incomlng resources
These are included in the Statement of Financial Artivities {SoFA) when:
• the congregation become5 entitled to the resources;
it is probable that the funds will be received,- and
the monetary value can be measured with sufficient reliably.
(11) Incomlng resources wlth related expenditure
Where incoming resources have related expenditure (as wlth insurance proceeds) the
incoming resources and related expenditure are reported gross in the SOF
(ill) Grants and donatlon$
Grants and donations are only included in the SOFA when the congregation has
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 Incorne and performance related grants
This is only included in the SOFA once the related goods or serrfices have been delivered and
all performance conditions met.
16

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5AINTFIELD ROAD PRESBYfERIAN CHURCH
a Congregation of The Presbyterlan Churth In Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
ACCOUNTING POUCIES (convd)
(vi) Glfts In klnd
Gifts in kind are accounted for at a reasonable estimate of theirvalue 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.
(vll} Donated servlces and facillties
These are only included in incomin8 resources (with an equivalent amount in resources
expended) where the benefrt to the charity is reasonably quantifiable. measurable and
material. The value placed On the5@ resources is the estimated value to the charity of the
seniice or facility received.
(vlll) Investment Income
This is included in the accounts in the period to which it relates.
(ixl Investment gains and losses
This includes any gain or10ss 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 LIABIUTIES
(i) Llablllty recognltion
Liabilities are recognised as soon as there is a legal or constrnctive obligation committing
the congregation to pay out resources.
(11) Governance costs
These are shown within charitable activities and indude the costs of preparation and
examination of accounts, the costs of trustee meetings and cost of any legal advice to
trustees on governance or constitutional matters.
17

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SAINTFIELD ROAD PRESBYTERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {conVd)
31 December 2023
ACCOUNTING POUCIES Iconvd)
(liil Grants wlth performance ¢onditlons
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 reco8nised in the SOFA once the
recipient of the grant has provided the specified service or output.
liv) Grants payable wlthout performance conditlons
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 cost categories
on a basis consistent with the use of resources, e.g. allocatin8 property costs by fk>or areas,
or per capita, staff costs by the time spent and other costs bvtheir usage.
15) Tanglble Hxed 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 assets other than freehold land, at rates
calculated to write of the cost. less estimated residual value, of each asset over its expected
useful life a5 follows
Buildings:
Fixtures, fitting5 and equipment:
- over years
- between 5 and 20 year5
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Presbyter
an
SAINTFIELD ROAD PRESBYTERIAN CHURCH
a Congregatlon of The Presbyterian Churth In Ireland
NOTES TO THE AccouKfs (convd)
31 December 2023
ACCOUNTING POLiaES (convd)
(11) 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 LEfjACIE5
Donations and gifts
Legacies
Gift aid
Grants
Loose collectlons
Mlsc. income
133,142
127,242
19,114
51.802
184,944 197,560
127,242
28,152
11.690
1,140
9,927
9,038
11,690
36,654
3.437
923
5,880
1,140
9,927
290,565
72.530
363,095 244,454
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SAINTFIELD ROAD PRESBYTERIAN CHURCH
a Congre8ation of The Presbyterian Church In Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
CHARITABLE ACTIVITIES
General Assembly assessments
Presbytery fees
Minlstry and support staff costs
Congregational running
expense5
Donations to missions and
charities
Governance costs
15,724
IA85
1,303
21.464
15.724
1.485
121.303
21,464
15,749
1,381
111,667
25,305
48.249
48.249
2,427
46,609
2,210
2,427
162,403
48,249
210,652
202,921
Fees payable to the church's Independent examiner were £2,427 {2022 £2,200). The independent
examiners also provided payroll pro￿SSIng at a cost of £951 (2022 £1,328).
OTHER EXPENDITURE
Depreciation
Property expenses
Other costs
53,392
22.857
53,392
22.857
8,069
63,448
8.069
14,003
8.069
76,249
84.318
77,451
20

Presbyter
an
SAINTFIELD ROAD PRESB YfERIAN CHURCH
a Con8regatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
EMPLOYEES
Employment Costs
2023
2022
Stipend and Salarie5
Social Security Costs
Pension contrlbLrtions
95.721 87,747
5,133
5,027
13.076 12,211
113.929 104.985
Number of Employees
The Minister Is an office holder and not all employee. He recelves a stipend from the
Presbyterian Church but this. and associated costs includin8 pension. are reimbursed by the
tongregation. In addition, In 2023, the church took on a student minister who a150 receives
remuneration from the Presbyterian Church which is reimbursed by the congregation. For
the purposes of these accounts. the stipend of the minister is included in employee costs as
well as the salary of the Student minister. The average number of employees during the
year, including the minister of the congregation. was
2023
2022
Average number of employees
There were no employees in recelpt of employee benefits in excess of £60,000 (2022: nonel
21

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SAINTFIELD ROAD PRESBYfERIAN CHURCH
Congregatlon of The Presbyterlan Church in Ireland
NOTES TO THE ACCOUKTS {conVd)
31 December 2023
Two trustees were in receipt of remuneration, Including a stipend, during the current year
12022: 2) In relation to their engagement as mlnister and employment as director of youth
minlstries respectively. The total of such remuneration duringthe year, excluding pension
and social Security costs. were as follows:
2023
2022
Ben Walker {Minister)
Johnny Bell (Director of Youth Minlstries)
40,095 37,233
32.061
30.054
72.156 67,287
No trustees rece•ved remuneration in their role as trustee (2022.. none).
The above trustees a150 received expenses reimbursed during the year as follows:
2023
2022
Ben Walker (Minister)
Johnny Bell (Director of Youth Mlnistriesl
6,701
952
6,382
1,317
7,653
7,699
These expenses were in relation lo their respective role as minister and employee of the
church. No trustees received reimbursement of expenses in their role as trustee12022:
none).
PENSION COSTS
The minister of the congregation is a member of the Presbyterian Church in Ireland Penslon
Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland. a separate
22

an
SAINTFIELD ROAD PRESBYTERIAN CHURCH
a Congregatlon of The Presbyterian Churth in Ireland
NOTES TO THE ACCOUNTS (convd)
31 December 2023
registered charity. The congregation pays an a55es5ment to the pre5b￿erlan Church in
Ireland equivalent to the employerfs pension contribution forthe Scheme and based on the
stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 15 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
ru¢ure obli8atior15. The Presbyterian Church has agreed to contributions of 24% of
pensionable salaries to cover the accrual of benefits for future service, expenses, the cost of
insurin8 death in service benefits and funding the scheme deficit.
As it is not PO55ible to separately identify the assets and liabilities of the scheme that relate
to Saintfield Roaif Presbyterian Church. the scheme has been accounted for a5 a defined
contribution scheme, in accordance with the provlslons of section 29 of FRS 102.
The contributions made by the congregatbon towards the pension of the Minister during the
year were
2023
2022
Contributions
9,383
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 Pf ivate pension scheme for one of it5
employees. The pension charge represents the contributions paid during the year.
2023
2022
Contributions
3,694
3,275
There were no contributions outstanding12021: £nil) to either scheme at the year end.
23

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5AINTFIELD ROAD PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (cont'd)
31 December 2023
TANGIBLE FIXED ASSETS
Cost or valuation
At l January 2023
Additlons
3,644,932
27,630
167,490
S,460
3.812,422
33,090
At 31 December 2023
3.672,562
172,950
3.845,51Z
DeprecFatlon
At l January 2023
Charge for year
307,108
36,449
129,037
16,942
436,145
53,392
At 31 December 2023
343.557
145.979
489.536
Net Book Value
At 310e￿rnber 2023
3.329.005
26.971
3.355,976
At 31 December 2022
3,337,824
38.453
3,376,277
INVESTMENTS
2023
2022
97.816 106,577
8,852
(8.761)
Value at l January 2023
Gain/{Loss) on revaluatlon
Value at 31 December 2023
106,669
97,816
The investments are held, and managed, on behalf of the congregation in the General
Investment Fund of the Presbyterian Church in Ireland.
24

Presbyter
an
5AINTFIELD ROAO PRESBYTERIAN CHURCH
a Congregatlon of The Presbyterian Churth In Ireland
NOTES TO THE ACCOUNTS (cont'd
31 December 2023
DEBTORS
2023
2022
29.600 37,597
L106
4.315
Gift Aid Recoverable
Bank Interest Receivable
Prepayments
3,811
35,021 41,408
10. CASH AT BANK AND IN HAND
2023
185.525
2022
85,329
Cash at bank
185.525 85,329
11. CREDITORS: amount fallin8 due wlthln one year
2023
11.369
2022
8,068
Accruals
11.369
8.068
25

an
SAINTFIELD ROAD PRE5B YfERIAN CHURCH
a Congregatlon of The Presbyterlan Churth in Ireland
NOTES TO THE ACCOUNTS (conyd)
31 December 2023
12. FUND 8ALANCES AND RECONCILIATION OF FUNDS
Balan
atljan
2023
Balance
at 31 Dec
2023
Fund
Income Expenditure
GaIns￿oSseS Transfer
Unrestrfcted
funds
General fund
110.067 291,879 (170,472)
110,067 291.879 {170,472)
(47,857)
{47,857)
183,618
183.618
Restrlcted
fvnds
Property
reserdes fund
Supportfund
3,333,128
46,643
{53.392}
{70.306)
33,090
14.767
3,312.826
55.819
64.715
Other funds
5,108
8.581
3,384.879 73,296
(800)
(124.498)
12,890
47.857 3.381.534
Endowment
and investment
funds
Funds
97,816
97,816
8,852
8,852
106.669
106,669
Total funds
3,592,762 365,176 (294,969)
8,852
3,671,821
26

Presbyter
an
SAIMTFIELD ROAD PRESBYfERIAN CHURCH
a Congregation of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS (Cont'dl
31 December 2023
Tangible Fixed Assets
Investment5
Current Assets
Creditors: Due within one year
3.355,975
3,355,975
106,669
220,546
111,369)
106,669
188,316
14,698)
32.230
(6.671)
183,618 3,381,534 106,669 3,671,821
Unrestrlcted 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 a5 a gift to the congregation, and on
subsequent revaluation on transitlon 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 belon8ing to various church organisations.
Endowment funds
These are funds arising from endowment investments and managed, on the church's behalf.
by the Presbyterian Church in Ireland.
27

an
SAINTFIELD ROAD PRESBYfERIAN CHURCH
a Congregatlon of The Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS {cont'd)
31 December 2023
13.
RELATED PARTY TRANSACTIONS
Durin8 the yearthe congregation contributed the followins amount5 to Fund5 Of the
General Assembly of the Presbyterian Church in Ireland, a separate charity:
£15,528 (2022: £15,749) for congregational assessments
£13,50012022: £12,000) towards the PCI United Appeal
£2,87812022: £2,893) towards the PCI World Development Appeal
The congregation contributed £1,485(2022: £1,381) toward5 Presbytery Assessments during
the year.
The total amount of donations received in year from Trustees Without condltions attached
to them were £36,862 (2022; £34,423).
A donation of £2,000 wa5 given to a Trustee who was working abroad.
14.
COMMITMENTS
In 2017, the church committed to SUPPOrt the work of a member and his family oversea5.
The church declded to continue this for a further period to the end of December 2027.
28