2022-12-31-accounts - Second Saintfield Congregation of the Presbyterian Church in Ireland

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Registered with the Charity Commission for Northern Ireland NIC105304

SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland

FINANCIAL STATEMENTS for the year ended 31 December 2022

4 Comber Street SAINTFIELD BT24 7AZ

Jones Chartered Accountants

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

STATEMENT OF FINANCIAL ACTIVITY For the year ended 31 December 2022

					Total	Total
		Unrestricted	Restricted	Endowment	Funds	Funds
	Note	Funds	Funds	Funds	2022	2021
	-------	------------	------------	------------	------------	------------
		£	£	£	£	£
Income and Endowments from:
Donations and legacies	2	142,977	42,822	-	185,799	145,898
Charitable activities	3	-	21,108	-	21,108	7,046
Other trading activities	4	3,425	-	-	3,425	1,690
Investments	5	662	13	3,228	3,903	3,732
Other	6	302	226	-	528	30
		------------	------------	------------	------------	------------
Total		147,366	64,169	3,228	214,763	158,396
		------------	------------	------------	------------	------------
Expenditure on:
Raising funds	7	270	421	-	691	399
Charitable activities	8	154,800	35,481	-	190,281	153,584
Other	9	1,000	-	-	1,000	800
		------------	------------	------------	------------	------------
Total		156,070	35,902	-	191,972	154,783
		------------	------------	------------	------------	------------
Net (loss)/gain on investments		-	-	(13,496)	(13,496)	15,532
		------------	------------	------------	------------	------------
Net income/(expenditure)		(8,704)	28,267	(10,268)	9,295	19,145
Transfer between funds		4,608	(1,380)	(3,228)	-	-
		------------	------------	------------	------------	------------
Net movement in funds		(4,096)	26,887	(13,496)	9,295	19,145
Reconciliation of funds:
Total funds brought forward		1,325,398	170,286	143,168	1,638,852	1,619,707
		------------	------------	------------	------------	------------
Total funds carried forward		1,321,302	197,173	129,672	1,648,147	1,638,852
		=======	=======	=======	=======	=======

SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland BALANCE SHEET As at 31 December 2022 Total Fund$ 2022 Total Funds 2021 Unrgstrictsd Restricted Endowment Funds Funds Funds Note Fixed assets Tangible assets Investments 12 1,210,983 13 1,210.983 1,223,505 129,672 129,672 143,168 Total flxed assets 1,210,983 129,672 1,340,655 1,366,673 Current assets Debtors Cash at bank and in hand 14 15 24,521 13,093 91,466 194,696 37,614 33,144 286,162 249,034 Total current a88ets 115,987 207,789 323,776 282,178 Llabllltles Creditors.. Amounts falling due within one year 16 5,668 10,616 16,284 9,999 Net current assets 110,319 197,173 307,492 272,179 Total net assets 1,321,302 197,173 129,672 1,648,147 1,638,852 Fund of the charlty Unrestricted funds Restricted income funds Endowment funds 18 1,321,302 18 18 1,321,302 1,325,398 197,173 170,286 129,672 129,672 143,168 197,173 Total charlty funds 1,321,302 197,173 129,672 1,648,147 1,638,852 Approved by the Kirk Session at a meeting on 27 March 2023 and signed on its behalf on 31 March 2023 by.. Bryan Rea Colin Black

SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS 31 December 2022

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 Financial Reporting Standard applicable in the UK and Ireland (FRS102) (effective 1 January 2015).

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.

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

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 congregation for use in the future.

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

1. ACCOUNTING POLICIES (continued)

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;
the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability.
(ii) Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising income) 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 at the same time 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.

(vi) Gifts in kind

Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity.

(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) Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

(ix) Investment income

This is included in the accounts when receivable.

(x) 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.

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

1. ACCOUNTING POLICIES (continued)

EXPENDITURE AND LIABILITIES

(xi) Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources.

(xii) 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.

(xiii) 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.

(xiv) 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.

ASSETS

(xv) Tangible Fixed Assets

Tangible fixed assets for use by 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 off the cost, less estimated residual value, of each asset over its expected useful life as follows

Land - Nil Buildings - over 50 years Fixtures and equipment - 25% to 33 1/3% straight line

(xvi) 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.

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

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||||||| |---|---|---|---|---|---| |2.|DONATIONS AND LEGACIES|Total|Total| |Unrestricted|Restricted Endowment|Funds|Funds| |Funds|Funds|Funds|2022|2021| |------------ ------------ ------------ ------------ ------------| |£|£|£|£|£| |Recorded giving|88,155|15,412|-|103,567|102,519| |Loose collections|359|-|-|359|433| |Donations and gifts|27,086|13,960|-|41,046|12,451| |Legacies|5,000|5,000|-|10,000|5,000| |Gift Aid|22,377|8,450|-|30,827|25,495| |------------ ------------ ------------ ------------ ------------| |142,977|42,822|-|185,799|145,898| |------------ ------------ ------------ ------------ ------------|

----- End of picture text -----

3. CHARITABLE ACTIVITIES

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Income from charitable| |activities|-|-|-|-|286| |Fees from burial fees|-|1,920|-|1,920|1,660| |Membership fees|-|3,286|-|3,286|2,655| |Fundraising events|-|14,502|-|14,502|845| |Grants|-|1,400|-|1,400|1,600| |------------ ------------ ------------ ------------ ------------| |-|21,108|-|21,108|7,046| |======= ======= ======= ======= =======|

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4. OTHER TRADING ACTIVITES

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||||||| |---|---|---|---|---|---| |Letting of premises|3,425|-|-|3,425|1,692| |======= ======= ======= ======= =======| |INVESTMENTS| |Deposit interest|662|13|-|675|579| |PCI General Investment Fund|-|-|2,021|2,021|1,946| |NI Central Investment Fund|-|-|1,207|1,207|1,207| |------------ ------------ ------------ ------------ ------------| |662|13|3,228|3,903|3,732| |======= ======= ======= ======= =======|

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5. INVESTMENTS

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

6.	OTHER INCOME				Total	Total
		Unrestricted	Restricted	Endowment	Funds	Funds
		Funds	Funds	Funds	2022	2021
		------------	------------	------------	------------	------------
		£	£	£	£	£
	Other income	302	225	-	527	30
		=======	=======	=======	=======	=======
7.	RAISING FUNDS
	FWO envelopes	270	-	-	270	253
	Fundraising events	-	421	-	421	146
		------------	------------	------------	------------	------------
		270	421	-	691	399
		=======	=======	=======	=======	=======
8.	CHARITABLE ACTIVITIES
	General Assembly
	Assessments	18,806	-	-	18,806	20,645
	Presbytery fees	804	-	-	804	613
	Ministry and support staff
	costs	56,091	-	-	56,091	51,662
	Congregational running
	expenses	49,291	24,099	-	73,390	57,897
	Donations to Missions and
	charities	28,128	11,382	-	39,510	21,327
	Governance costs	1,680	-	-	1,680	1,440
		------------	------------	------------	------------	------------
		154,800	35,481	-	190,281	153,584
		=======	=======	=======	=======	=======
9.	OTHER EXPENDITURE
	Other expenses	1,000	-	-	1,000	800
		=======	=======	=======	=======	=======
10.	EMPLOYEES				2022	2021
				------------		------------
					£	£
	Employment costs
	Stipend and salaries				50,580	46,222
	Social security costs				4,897	4,570
	Pension contributions				8,722	8,568
				------------		------------
					64,199	59,360
				=======		=======

SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

10. EMPLOYEES (continued)

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. For the purposes of these accounts, the stipend of the minister is included in employee costs. The average number of employees, including the minister of the congregation, expressed as full-time equivalents, during the year was:

	2022	2021
	------------	------------
Average number of employees	2	2
	=======	=======

There were no employees in receipt of employee benefits in excess of £60,000 (2021: none)

11. 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 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 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.

The contributions made by the congregation during the year were:

	Total	Total
	Funds	Funds
	2022	2021
	------------	------------
	£	£
Contributions	8,722	8,568
	=======	=======

The congregation also offers a NEST pension scheme to all other employees. No employees are currently members of this pension scheme (2021 – none).

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

12.	TANGIBLE FIXED ASSET			Fixtures &
		Land	Buildings	equipment	Total
		------------ ------------		---------------	------------
		£	£	£	£
	Cost or valuation
	At 1 January 2022	375,000	955,000	11,542	1,341,542
	Additions	-	6,510	3,300	9,810
	Disposals	-	-	-	-
		------------	------------	------------	------------
	At 31 December 2022	375,000	961,510	14,842	1,351,352
		------------	------------	------------	------------
	Depreciation
	At 1 January 2022	-	114,600	3,437	118,037
	Provision for year	-	19,111	3,221	22,332
	Disposals	-	-	-	-
		------------	------------	------------	------------
	At 31 December 2022	-	133,711	6,658	140,369
		------------	------------	------------	------------
	Net Book Value
	At 31 December 2022	375,000	827,799	8,184	1,210,983
		=======	=======	=======	=======
	At 31 December 2021	375,000	840,400	8,105	1,223,505
		=======	=======	=======	=======
13.	INVESTMENTS			2022	2021
				------------	------------
				£	£
	PCI General Investment Fund			91,486	99,680
	NI Central Investment Fund			38,186	43,488
				------------	------------
				129,672	143,168
				=======	=======
	Value at 1 January 2022			143,168	127,636
	Gains/(losses on revaluation)			(13,496)	15,532
				------------	------------
	Value 31 December 2022			129,672	143,168
				=======	=======

SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

14.	DEBTORS	2022	2021
		------------	------------
		£	£
	Gift Aid Recoverable	25,388	22,672
	Other debtors	6,614	6,014
	Prepayments and sundry debtors	5,612	4,458
		------------	------------
		37,614	33,144
		=======	=======
15.	CASH AT BANK AND IN HAND
	Danske Bank current accounts	284,499	247,740
	Cash in hand	1,663	1,294
		------------	------------
		286,162	249,034
		=======	=======
16.	CREDITORS– amounts falling due within one year
	Accruals	16,284	9,999
		=======	=======

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

17. FUND BALANCES AND RECONCILIATION OF FUNDS

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Balance at|Gains/|Balance| |FUND|start|Income|Expend|Losses Transfer|at end| |------------ ------------ ------------ ------------ ------------ ------------| |£|£|£|£|£|£| |Unrestricted Funds| |Church General| |Account|1,325,398|147,366 (156,070)|-|4,608 1,321,302| |------------ ------------ ------------ ------------ ------------ ------------| |Restricted Funds| |Church Property| |Account|152,199|51,758|(25,293)|-|(1,086)|177,578| |Church Organisations| |Account|18,087|12,411|(10,609)|-|(294)|19,595| |------------ ------------ ------------ ------------ ------------ ------------| |170,286|64,169|(35,902)|-|(1,380)|197,173| |------------ ------------ ------------ ------------ ------------ ------------| |Endowment Funds| |PCI General Investment| |Fund|99,680|2,021|-|(8,194)|(2,021)|91,486| |NI Central Investment| |Fund for Charities|43,488|1,207|-|(5,302)|(1,207)|38,186| |------------ ------------ ------------ ------------ ------------ ------------| |143,168|3,228|-|(13,496)|(3,228)|129,672| |------------ ------------ ------------ ------------ ------------ ------------| |Total|1,638,852|214,763 (191,972)|(13,496)|- 1,648,147| |======= ======= ======= ======= ======= =======|

----- End of picture text -----

SECOND PRESBYTERIAN CHURCH SAINTFIELD

a congregation of the Presbyterian Church in Ireland

NOTES TO THE ACCOUNTS (continued) 31 December 2022

18. RELATED PARTY TRANSACTION

(i) One of the Trustees was in receipt of remuneration during the current year in relation to their engagement as minister following (2021 – 1). The total remuneration paid excluding pension and social security costs was £36,347 (2021 – £35,700).
(ii) Pension contributions paid in respect of the minister to the Presbyterian Church in Ireland Pension Scheme (2009) were £8,723 (2021 – £8,568).
(iii) No trustee received remuneration in relation to their role as trustee (2021 – none). Expenses reimbursed to the minister during the year totalled £6,722 (2021 - £6,455). These expenses were in relation to his role as employee of the church. No trustee received reimbursement of expenses in relation to their role as trustee (2021 – none).
(iv) During the year the congregation contributed the following amounts to Funds of the General Assembly of the Presbyterian Church in Ireland a separate charity:
£18,806 (2021 – £20,645) for congregational assessments
£8,882 (2021 – £9,707) towards the United Appeal
£1,777 (2021 – £Nil) toward the World Development Appeal
(v) The congregation contributed £804 (2021 – £613) towards Presbytery Assessments during the year

There were no other related party transactions.