## **Second Presbyterian Church Comber**
## **Statement of Financial Activities for the Year Ended 31 December 2024**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
201,342
Charitable activities
3
-
Investment income
4
3,838
Other income
5
27
Total income
205,207
**Expenditure on:**
Charitable activities
6
222,096
Total expenditure
222,096
Gains/losses on
investment assets
1,448
Net
(expenditure)/income
(15,441)
Gross transfers between
funds
37,501
Net movement in funds
22,060
**Reconciliation of funds**
Total funds brought
forward
251,188
Total funds carried
forward
16
273,248|**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
87,948
-
54,309
-
-
250
-
-
142,257
250
108,404
-
108,404
-
-
-
33,853
250
(37,251)
(250)
(3,398)
-
65,798
8,500
62,400
8,500|**Total**
**2024**
**£**
289,290
54,309
4,088
27
347,714
330,500
330,500
1,448
18,662
-
18,662
325,486
344,148|**Total**
**2023**
**£**
364,009
62,398
4,011
168|
|---|---|---|---|
||||430,586|
||||532,543|
||||532,543
(1,606)|
||||(103,563)
-|
||||(103,563)
429,049|
||||325,486|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 16 to 29 form an integral part of these financial statements. Page 14
## **Second Presbyterian Church Comber**
## **(Registration number:NIC105165 ) Balance Sheet as at 31 December 2024**
|**Note**
**Fixed assets**
Tangible assets
10
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
13
**Creditors: Amounts falling due within one year**
14
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
15
**Net assets**
**Funds of the charity:**
**Endowment funds**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
16|**2024**
**£**
167,895
127,942
295,837
19,579
117,078
136,657
(17,358)
119,299
415,136
(70,988)
344,148
8,500
62,400
273,248
344,148|**2023**
**£**
180,262
126,494|
|---|---|---|
|||306,756|
|||20,972
113,206|
|||134,178
(17,372)|
|||116,806|
|||423,562
(98,076)|
|||325,486|
|||8,500
65,798
251,188|
|||325,486|
The financial statements on pages 14 to 29 were approved by the trustees, and authorised for issue on ....................21 Aug 2025 and signed on their behalf by:
## R A Courtenay
......................................... Robert Andrew Courtenay Other officer
Mary McIlveen
......................................... Mary Mcllveen Chief executive officer
The notes on pages 16 to 29 form an integral part of these financial statements. Page 15
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## **1 Accounting policies**
## **Statement of compliance**
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the United Kingdom and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2018, and the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, and UK Generally Accepted Accounting Practice.
## **Basis of preparation**
Second Presbyterian Church Comber is an Unincorporated Charity registered with the Northern Ireland Charities Commission. The address of the registered office is given in the Charity information on page 1 of the financial statements. The nature of the Charity's operations and principal activities are that of a church.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £.
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Funds**
Unrestricted funds are available for use at the discretion of the Trustees. In furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are which are to be used in accordance with specific restrictions imposed by the donors of which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes of the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally the D Edgar, M Smyth and P Ritchie endowment funds. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund, investment management charges and legal advices relating to the fund are charged against the fund.
Page 16
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **Income recognition**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this required a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP. Further details is given in the Trustees' Report.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy, the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.
Other income includes the conversion of endowment funds into income with arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund.
Page 17
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **Expenditure Recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. It is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under Expenditure on Charitable Activities which includes:
- General Assembly Assessments
- Presbytery fees
- Ministry and support staff costs
- Congregational running expenses
- Wages and salaries
- Donations to Missions and Charities
- Governance costs
- Repairs and maintenance account expenses
- Organisation account expenses
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in "net gains/(losses) on investments" in SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Land and Buildings - 6.67% Straight Line
## **Debtor and creditors receivable/ payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Loans and borrowings**
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Page 18
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **Employee benefits**
When employees have rendered services to the charity, short-term employee benefits to which the employees are entitled are recognised at an undiscounted amount expected to be paid in exchange for those services.
The charity operates a pension plan for the benefit of its employees. Contributions are expensed as they become payable.
## **Financial Instruments**
The congregation has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all its financial instruments.
Financial instruments are recognised in the congregation's balance sheet when the congregation becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 19
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
|**2**
**Income from donations and legacies**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
Donations and legacies;
Donations from individuals
201,342
87,948
201,342
87,948
**3**
**Income from charitable activities**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**Funds**
**£**
-
54,309
-
**4**
**Investment income**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**Funds**
**£**
Interest receivable and
similar income;
Interest receivable on
bank deposits
204
-
-
Other income from fixed
asset investments
3,634
-
250
3,838
-
250
**5**
**Other income**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**Funds**
**£**
Other income
27
-
-||**Total**
**2024**
**£**
289,290
289,290
**Total**
**2024**
**£**
54,309
**Total**
**2024**
**£**
204
3,884
4,088
**Total**
**2024**
**£**
27||**Total**
**2023**
**£**
364,009|
|---|---|---|---|---|
|||||364,009|
|||||**Total**
**2023**
**£**
62,398|
|||||**Total**
**2023**
**£**
221
3,790|
|||||4,011|
|||||**Total**
**2023**
**£**
168|
Page 20
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **6 Expenditure on charitable activities**
||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Total 2024**|**Total 2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|General||||||
|Assembly|14,000|-|-|14,000|17,725|
|Assessments||||||
|Presbytery
Fees|1,117|-|-|1,117|1,065|
|Congregational||||||
|Running|77,710|220|-|77,930|64,715|
|Expenses||||||
|Donations to||||||
|Missions
and|5,611|34,407|-|40,018|39,739|
|Charities||||||
|Presentations|400|-|-|400|1,561|
|Wages and
Salaries|105,961|-|-|105,961|115,532|
|Rent|-|-|-|-|2,630|
|Repairs and||||||
|Maintenance|1,300|24,753|-|26,053|231,412|
|Expenses||||||
|Organisational
Expenses|-|41,149|-|41,149|48,375|
|Depreciation|12,367|-|-|12,367|5,153|
|Interest|-|7,875|-|7,875|1,336|
|Governance
Costs|3,630|-|-|3,630|3,300|
||222,096|108,404|-|330,500|532,543|
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 21
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **8 Employees**
|**Employment costs**
Wages and salaries
Social Security
Pension costs|**2024**
**£**
87,174
7,121
11,666
**105,961**|**2023**
**£**
95,709
8,436
11,387|
|---|---|---|
|||**115,532**|
## **Average Number of Employees**
The average number of employees during the year was as follows:
|Average number of employees|**2024**
**No**
3|**2023**
**No**
3|
|---|---|---|
No employee received emoluments of more than £60,000 during the year (2023: £Nil)
## **9 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 registered charity. The congregation pays an assessment to 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 revalued 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. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church agreed to pay from 31 December 2015 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.
Page 22
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **10 Tangible fixed assets**
|**10 Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 January 2024
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
At 31 December 2024
**Net book value**
At 31 December 2024
At 31 December 2023|**Land and**
**buildings**
**£**
185,415
185,415
5,153
12,367
17,520
167,895
180,262|**Total**
**£**
185,415|
|||185,415|
|||5,153
12,367|
|||17,520|
|||167,895|
|||180,262|
Page 23
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **11 Fixed asset investments**
## **Listed investments**
|At 1 January 2024
Gains/ (Losses) on revaluation
At 31 December 2024
**Net book value**
At 31 December 2024
At 31 December 2023|**Listed**
**investments**
**£**
126,494
1,448
127,942
127,942
126,494|**Total**
**£**
126,494
1,448
127,942
127,942
126,494|
|---|---|---|
## **12 Debtors**
|Gift aid recoverable
**13 Cash and cash equivalents**
Cash at bank|**2024**
**£**
19,579
**2024**
**£**
117,078|**2023**
**£**
20,972|
|---|---|---|
|||**2023**
**£**
113,206|
Page 24
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **14 Creditors: amounts falling due within one year**
|Bank loans
Accruals
**15 Creditors: amounts falling due after one year**
**Due after one year**
Bank loans
.
**Due after more than five years**
After more than five years by instalments|**2024**
**£**
3,565
13,794
17,359
**2024**
**£**
70,988
**2024**
**£**
53,059|**2023**
**£**
3,260
14,113|
|---|---|---|
|||17,373|
|||**2023**
**£**
98,076|
|||**2023**
**£**
81,682|
## **16 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
167,895
119,442
74,257
(17,358)
(70,988)
273,248|**Restricted**
**funds**
**£**
-
-
62,400
-
-
62,400|**Endowment**
**funds**
**£**
-
8,500
-
-
-
8,500|**Total funds**
**at 31**
**December**
**2024**
**£**
167,895
127,942
136,657
(17,358)
(70,988)|
|---|---|---|---|---|
|||||344,148|
Page 25
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**Funds**
**General**
**£**
180,262
126,494
68,380
(17,372)
(98,076)
259,688|**Restricted**
**Funds**
**£**
-
-
65,798
-
-
65,798|**Total Funds**
**at 31**
**December**
**2023**
**£**
180,262
126,494
134,178
(17,372)
(98,076)|
|---|---|---|---|
||||325,486|
Page 26
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **17 Fund Reconciliation**
|**Fund**
**Unrestricted**
**Funds**
General Fund
Investments
**Restricted**
**Funds**
Renovation
Fund
Manse Fund
United Appeal
Christian Aid
Presbyterian
Children's
Society
World
Development
Appeal
Warm Space
UDR
Benevolent
Fund
Tots & Co
Monday Night
Bowls
Table Tennis
Club
Drama Club
Bible Study
Shine (HBC +
Crossfire)
Youth Club|**Balance at**
**Start**
**Income**
**Expenditure Gains/Losses**
**Transfer**
**Balance at**
**End**
**£**
**£**
**£**
**£**
**£**
**£**
133,194
201,370
(222,096)
-
37,501
149,969
117,994
3,838
-
1,448
-
123,280|
|---|---|
||251,188
205,207
(222,096)
1,448
37,501
273,248|
||6,091
21,351
(24,753)
-
-
2,689
-
36,235
(8,799)
-
(26,357)
1,079
-
19,266
(20,403)
-
1,137
-
-
2,286
(2,286)
-
-
-
-
3,490
(3,490)
-
-
-
-
1,026
(1,026)
-
-
-
-
500
(220)
-
-
280
-
619
(619)
-
-
-
1,621
4,490
(4,137)
-
(400)
1,574
712
808
(757)
-
(200)
563
749
204
-
(200)
753
443
7,688
(5,171)
-
(550)
2,410
969
616
(532)
-
(402)
651
75
-
-
-
-
75
840
-
-
-
-
840|
Page 27
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
|**Fund**|**Balance at**
**Start**|**Income**|**Expenditure **|**Gains/Losses**|**Transfer**|**Balance at**
**End**|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**£**|
|World|||||||
|Development|2,406|4,000|(2,500)||2,000|5,906|
|Group|||||||
|Saturday night
bowls|1,143|1,810|(597)|-|(2,300)|56|
|GB Explorers|7,149|3,729|(2,810)|-|(572)|7,496|
|GB|3,149|6,245|(3,627)|-|269|6,036|
|BB|12,222|12,969|(20,672)|-|9,102|13,621|
|Sunday School
Project|169|-|-|-|-|169|
|Coffee Bar|129|847|(171)|-|(750)|55|
|Youth Council|7|-|-|-|-|7|
|Catering Corps|9,620|6,450|(1,102)||(5,000)|9,968|
|Special Sunday
School|172|-|(172)|-|-|-|
|Presbyterian
Woman|542|3,401|(1,573)|-|-|2,370|
|Mission|290|607|(987)|-|1,014|924|
|M Smyth|17,300|-|-|-|(14,300)|3,000|
|Recife|-|3,620|(2,000)|-|258|1,878|
||65,798|142,257|(108,404)|-|(37,251)|62,400|
|**Endowment**|||||||
|**Funds**|||||||
|D Edgar
Bequest|1,500|40|-|-|(40)|1,500|
|M Smyth
Bequest|5,000|150|-|-|(150)|5,000|
|P Ritchie
Memorial|2,000|60|-|-|(60)|2,000|
||8,500|250|-|-|(250)|8,500|
Page 28
## **Second Presbyterian Church Comber**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
Restricted funds of the congregation include restricted organisational funds held by the following organisations:Tots & Co, Monday Night Bowls, Table Tennis Club, Drama Club, Bible Study, Shine, Youth Club, World Development Group, Saturday Night Bowls, GB Explorers, GB, BB, Coffee Bar, Youth Council, Catering Corps, Special Sunday School and Presbyterian Women.
The monies received in relation to these organisations is restricted as the funds may only be spent only on activities of the organisation.
Restricted congregational property funds include those held in the Renovation Fund and the Manse Fund. The monies received into these funds are restricted by the condition that they must be spent on repairs, maintenance, renovation of the congregational property and payment of the bank loan. Donors to the funds expect this condition to be satisfied.
Restricted congregational missions and charities funds include the following: United Appeal, Christian Aid, Presbyterian Children's Society, World Development Appeal, Sunday School Project, UDR Benevolent Fund, and Warm Space.
Monies received into these funds are restricted by the condition that donors expect the funds to be spent only on these missions and charities.
A gift was received from Mr J Smyth. The monies are to be allocated to the following activities the BB, the choir and the World Development Group.
Page 29