## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **STATEMENT OF FINANCIAL ACTIVITY for the year ended 31 December 2024** 


|||£|£|£|£|£|
|---|---|---|---|---|---|---|
|**Income from:**|||||||
|Donations and grants|2|**204,076**|**93,810**|**-**|**297,886**|235,853|
|Legacies|2|**-**|**-**|**-**|**-**|127,242|
|Investments||**1,668**|**973**|**-**|**2,641**|2,081|
|||**----------**|**----------**|**----------**|**----------**|----------|
|Total||**205,744**|**94,783**|**-**|**300,527**|365,176|
|||**----------**|**----------**|**----------**|**----------**|----------|
|**Expenditure on:**|||||||
|Charitable activities|3|**181,123**|**68,999**|**-**|**250,122**|210,652|
|Other|4|**7,616**|**61,261**|**-**|**68,877**|84,318|
|||**----------**|**----------**|**----------**|**----------**|----------|
|Total||**188,739**|**130,260**|**-**|**318,999**|294,969|
|||**----------**|**----------**|**----------**|**----------**|----------|
|Net gains/(losses) on|8|**-**|**-**|**5,043**|**5,043**|8,852|
|investments|||||||
|||**----------**|**----------**|**----------**|**----------**|----------|
|**Net Income /(expenditure)**||**17,005**|**(35,477)**|**5,043**|**(13,429)**|79,059|
|Transfer Between Funds||**(15,000)**|**15,000**|**-**|**-**|-|
|||**----------**|**----------**|**----------**|**----------**|----------|
|**Net movement in funds**||**2,005**|**(20,477)**|**5,043**|**(13,429)**|79,059|
|Reconciliation of funds:|||||||
|Total funds brought forward||**183,618**|**3,381,534**|**106,669**|**3,671,821**|3,592,762|
|||**----------**|**-------------**|**----------**|**----------**|----------|
|**Total funds carried forward**||**185,623**|**3,361,057**|**111,712**|**3,658,392**|3,671,821|
|||**======**|**=======**|**======**|**======**|======|



13 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **BALANCE SHEET As at 31 December 2024** 

|||**2024**|2023|
|---|---|---|---|
|||**£**|**£**|
|**Fixed assets:**||||
|Tangible assets|7|**3,332,418**|3,355,975|
|Investments|8|**111,712**|106,669|
|||----------|----------|
|**Total fixed assets**||**3,444,130**|3,462,644|
|||----------|----------|
|**Current assets**||||
|Debtors|9|**43,762**|35,021|
|Cash at bank|10|**178,359**|185,525|
|||----------|----------|
|**Total current assets**||**222,121**|220,546|
|||----------|----------|
|**Liabilities:**||||
|Creditors: Amounts falling due within one year|11|**(7,859)**|(11,369)|
|||----------|----------|
|**Net current assets**||**214,262**|209,177|
|||----------|----------|
|**Total assets less current liabilities**||**3,658,392**|3,671,821|
|||----------|----------|
|**Net assets**||**3,658,392**|3,671,821|
|||----------|----------|



14 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **BALANCE SHEET (cont'd) As at 31 December 2024** 

|||**2024**|2023|
|---|---|---|---|
|||**£**|**£**|
|**Funds of the charity**||||
|Endowment funds|12|**111,712**|106,669|
|Restricted income funds|12|**3,361,057**|3,381,534|
|Unrestricted funds|12|**185,623**|183,618|
|||**-------------**|-------------|
|**Total charity funds**||**3,658,392**|3,671,821|
|||**-------------**|-------------|



The financial statements have been prepared in accordance with the provisions under Section 1A of FRS102 






**----- Start of picture text -----**<br>
_____________________________________  ___________________<br>**----- End of picture text -----**<br>


___________________ Ross Withers ACA (Treasurer) Date 




15 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

They have been approved by the Kirk Session at a meeting on Thursday 20[th] March 2025 and signed on its behalf on Friday 11[th] April 2025 by 

_____________________________________ 

Rev Ben Walker (Minister) 

_____________________________________ 

Dr. Alistair McCracken (Clerk of Session) 

16 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NOTES TO THE ACCOUNTS 31 December 2024** 

## **1. 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 1 January 2019) and section 1A 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 accounts 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 FRS102. 

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 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 was 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 (b) revenue donations or grants for a specific congregational activity intended by the donor. Where these funds have unspent 

17 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. 

## **31 December 2024** 

## **1. ACCOUNTING POLICIES** 

Unrestricted funds are income funds which are to be spent on the 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: 

congregation becomes entitled to the resources; 

it is probable that the funds will be received; and 

## **(ii) 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 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 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 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NOTES TO THE ACCOUNTS** 

## **31 December 2024** 

## **1.** 

## **(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 is a legal or constructive obligation committing the congregation to pay out resources. 

## **(ii) Governance costs** 

These are shown within charitable activities and include 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. 

19 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NOTES TO THE ACCOUNTS** 

## **31 December 2024** 

## **1. ACCOUNTING POLICIES** 

## **(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 recognised 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. 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 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 as follows 

Buildings: - over 100 years Fixtures, fittings and equipment: - between 5 and 20 years 

20 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NOTES TO THE ACCOUNTS 31 December 2024** 

## **1.** 

## **(ii) Investments** 

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at 

## **2. DONATIONS AND LEGACIES** 

||**£**|**£**|**£**|£|
|---|---|---|---|---|
|Donations and gifts|**151,657**|**81,182**|**232,839**|184,944|
|Legacies|**-**|**-**|**-**|127,242|
|Gift aid|**33,847**|**9,978**|**43,825**|28,152|
|Grants|**-**|**2,650**|**2,650**|11,690|
|Loose collections|**775**|**-**|**775**|1,140|
|Misc. income|**17,797**|**-**|**17,797**|9,927|
||**----------**|**----------**|----------|----------|
||**204,076**|**93,810**|**297,886**|363,095|
||**----------**|**----------**|**----------**|----------|



21 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NOTES TO THE ACCOUNTS** 

## **31 December 2024** 

## **3. CHARITABLE ACTIVITIES** 

||**£**|**£**|**£**|£|
|---|---|---|---|---|
|General Assembly assessments|**16,213**|**-**|**16,213**|15,724|
|Presbytery fees|**1,857**|**-**|**1,857**|1,485|
|Ministry and support staff costs|**133,555**|**-**|**133,555**|121,303|
|Congregational running costs|**26,930**|**-**|**26,930**|21,464|
|Donations to Missions & Charities|**-**|**68,999**|**68,999**|48,249|
|Governance costs|**2,568**|**-**|**2,568**|2,427|
||**----------**|**---------**|**----------**|----------|
||**181,123**|**68,999**<br>|**250,122**<br>|210,652|
||**----------**|**----------**|**----------**|----------|



Fees payable to the church's independent examiner were £2,568 (2023 £2,427). The independent examiners also provided payroll processing at a cost of £997 (2023 £951). 

## **4. OTHER EXPENDITURE** 

||**£**|**£**|**£**|£|
|---|---|---|---|---|
|Depreciation|**-**|**45,631**|**45,631**|53,392|
|Property expenses|**-**|**15,630**|**15,630**|22,857|
|Other costs|**7,616**|**-**|**7,616**|8,069|
||**----------**|**----------**|**----------**|----------|
||**7,616**|**61,261**|**68,877**|84,318|
||**----------**|**----------**|**----------**|----------|



22 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **N 31 December 2024** 

## **5. EMPLOYEES** 

## **Employment Costs** 

|**Emloment Costs**|||
|---|---|---|
|**py**|**2024**|2023|
||**£**|£|
|Stipend and Salaries|**102,208**|95,721|
|Social Security Costs|**6,441**|5,133|
|Pension contributions|**13,663**|13,076|
||----------|----------|
||**122,311**|113,929|
||**----------**|----------|



## **Number of Employees** 

The Minister is an office holder and not an employee. He receives a stipend from the Presbyterian Church but this, and associated costs including pension, are reimbursed by the congregation. In 2023, the church took on a student minister whom, in 2024, was promoted to Assistant Minister. He also 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 assistant minister. The average number of employees during the year, including the minister of the congregation, was 

||**2024**|2023|
|---|---|---|
|Average number of employees|**4**|4|
||**----------**|----------|



There were no employees in receipt of employee benefits in excess of £60,000 (2023: none) 

23 



**SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 


## **31 December 2024** 

Two trustees were in receipt of remuneration, including a stipend, during the current year (2023: 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: 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Ben Walker (Minister)|**41,050**|40,095|
|Johnny Bell (Director of Youth Ministries)|**33,169**|32,061|
||**----------**|----------|
||**74,219**|72,156|
||**======**|======|



No trustees received remuneration in their role as trustee (2023: none). 

The above trustees also received expenses reimbursed during the year as follows: 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Ben Walker (Minister)|**7,756**|**6,701**|
|Johnny Bell (Director of Youth Ministries)|**840**|**952**|
||**----------**|**----------**|
||**8,596**|**7,653**|
||**======**|======|



These expenses were in relation to their respective role as minister and employee of the church. No trustees received reimbursement of expenses in their role as trustee (2023: none). 

## **6. PENSION COSTS** 

The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme (2009). This is a scheme operated by the Presbyterian Church in Ireland, a separate 

24 



**SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 


## **31 December 2024** 

registered charity. The congregation pays an assessment to the Presbyterian Church in 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% 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 towards the pension of the Minister during the year were 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Contributions|**9,852**|9,383|
||**----------**|----------|



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. 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Contributions|**3,811**|3,694|
||**----------**|----------|



There were no contributions outstanding (2023: £nil) to either scheme at the year end. 

25 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **31 December 2024** 

## **7. TANGIBLE FIXED ASSETS** 

||£|£|£|
|---|---|---|---|
|**Cost or valuation**||||
|At 1 January 2024|3,672,562|172,950|3,845,512|
|Additions|-|22,074|22,074|
||----------|----------|----------|
|At 31 December 2024|**3,672,562**|**195,024**|**3,867,586**|
||----------|----------|----------|
|**Depreciation**||||
|At 1 January 2024|343,557|145,979|489,536|
|Charge for year|36,855|8,776|45,631|
||----------|----------|----------|
|At 31 December 2024|**380,412**|**154,755**|**535,167**|
||----------|----------|----------|
|**Net Book Value**||||
|At 31 December 2024|**3,292,150**|**40,269**|**3,332,419**|
||----------|----------|----------|
|At 31 December 2023|**3,329,005**|**26,971**|**3,355,976**|
||----------|----------|----------|
|**8.**<br>**INVESTMENTS**||||
|||**2024**|2023|
|Value at 1 January 2024||**106,669**|**97,816**|
|Gain/(Loss) on revaluation||**5,043**|**8,852**|
|||**----------**|**----------**|
|Value at 31 December 2024||**111,712**|**106,669**|
|||**======**|======|



26 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH** 

## **a Congregation of The Presbyterian Church in Ireland** 

The investments are held, and managed, on behalf of the congregation in the General Investment Fund of the Presbyterian Church in Ireland. 

## **31 December 2024** 

## **9. DEBTORS** 

||**2024**|2023|
|---|---|---|
|Gift Aid Recoverable|**38,722**|**29,600**|
|Bank Interest Receivable|**246**|**1,106**|
|Prepayments|**4,795**|**4,315**|
||**----------**|**----------**|
||**43,763**|**35,021**|
||**======**|======|



## **10. CASH AT BANK AND IN HAND** 

||**2024**|2023|
|---|---|---|
|Cash at bank|**178,359**|185,525|
||**----------**|----------|
||**178,359**|85,329|
||**======**|======|



## **11. CREDITORS: amount falling due within one year** 

||**2024**|2023|
|---|---|---|
|Accruals|**7,859**|11,369|
||**-----------**|-----------|
||**7,859**|11,369|
||**======**|======|



27 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **NO 31 December 2024** 

## **12. FUND BALANCES AND RECONCILIATION OF FUNDS** 

|Fund<br>**Unrestricted**<br>**funds**<br>General fund<br>**Restricted**<br>**funds**<br>Property<br>reserves fund<br>Support fund<br>Other funds<br>**Endowment**<br>**and investment**<br>**funds**<br>Funds<br>**Total funds**|Balance<br>at 1 Jan<br>2024<br>Income<br>Expenditure<br>Gains/losses<br>Transfer<br>**Balance**<br>**at 31 Dec**<br>**2024**<br>£<br>£<br>£<br>£<br>£<br>**£**<br>183,618<br>205,744<br>(188,739)<br>-<br>(15,000)<br>**185,623**|
|---|---|
||183,618<br>205,744<br>(188,739)<br>-<br>(15,000)<br>**185,623**<br>3,312,825<br>-<br>(45,631)<br>-<br>22,074<br>**3,289,268**<br>55,819<br>63,403<br>(60,231)<br>-<br>(7,074)<br>**51,917**<br>12,890<br>31,380<br>(24,398)<br>-<br>-<br>**19,872**|
||3,381,534<br>94,783<br>(130,260)<br>-<br>15,000<br>**3,361,057**<br>106,669<br>-<br>-<br>5,043<br>-<br>**111,712**|
||106,669<br>-<br>-<br>5,043<br>-<br>**111,712**<br>**3,671,821**<br>**300,527**<br>**(318,999)**<br>**5,043**<br>**-**<br>**3,658,392**|



A transfer was made from the General Fund to the Support Fund in year to maintain optimum operating levels. 

28 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **31 December 2024** 

||£|£|£|**£**|
|---|---|---|---|---|
|Tangible Fixed Assets|-|3,332,418|-|**3,332,418**|
|Investments|-|-|111,712|**111,712**|
|Current Assets|188,864|33,257|-|**222,121**|
|Creditors: Due within one year|(3,241)|(4,618)|-|**(7,859)**|
||----------|----------|----------|**----------**|
||185,623|3,361,057|111,712|**3,658,392**|
||----------|----------|----------|**----------**|



## **Unrestricted funds** 

## **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 FRS102. 

## _Support fund_ 

These are funds available for use in the areas of major property maintenance, capital expenditure and mission and outreach activities. 

## _Other funds_ 

These are small restricted funds belonging to various church organisations. 

## **Endowment funds** 

These are funds arising from endowment investments and managed, , by the Presbyterian Church in Ireland. 

29 




## **SAINTFIELD ROAD PRESBYTERIAN CHURCH a Congregation of The Presbyterian Church in Ireland** 

## **31 December 2024** 

## **13. RELATED PARTY TRANSACTIONS** 

During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland, a separate charity: 

- £16,123 (2023: £15,528) for congregational assessments 

- £14,115 (2023: £13,500) towards the PCI United Appeal 

- £2,851 (2023: £2,878) towards the PCI World Development Appeal 

The congregation contributed £1,857 (2023: £1,485) towards Presbytery Assessments during the year. 

The total amount of donations received in year from Trustees without conditions attached to them were £51,450 (2023; £36,862). 

A donation of £2,000 was given to Heather Lowry (trustee) who was working abroad. 

Under the terms specified by PCI, Gordon Campbell (trustee) received the recommended pulpit supply fee of £83 for leading a service in 2024. 

No trustees received remuneration in respect of their role as trustee in 2024. 

## **14. COMMITMENTS** 

In 2017, the church committed to support the work of a member and his family overseas. The church is currently committed to providing this support to the end of December 2027. 

30