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



1 



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. 

3 



**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. 

4 



**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. 

5 



**SECOND PRESBYTERIAN CHURCH SAINTFIELD** 

a congregation of the Presbyterian Church in Ireland 

## **NOTES TO THE ACCOUNTS** _(continued)_ 31 December 2022 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|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 -----**<br>


## **3. CHARITABLE ACTIVITIES** 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|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|
|======= ======= ======= ======= =======|

**----- End of picture text -----**<br>


## **4. OTHER TRADING ACTIVITES** 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|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|
|======= ======= ======= ======= =======|

**----- End of picture text -----**<br>


## **5. INVESTMENTS** 

6 



**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**|
|||------------|------------|------------|------------|------------|
|||£|£|<br>£|<br>£|£|
||Other income|302|225|<br>-|<br>527|30|
|||=======|=======|=======|=======|=======|
|**7.**|**RAISING FUNDS**||||||
||FWO envelopes|270|-|<br>-|<br>270|253|
||Fundraising events|-|421|<br>-|<br>421|146|
|||------------|------------|------------|------------|------------|
|||270|421|<br>-|<br>691|399|
|||=======|=======|=======|=======|=======|
|**8.**|**CHARITABLE ACTIVITIES**||||||
||General Assembly||||||
||Assessments|18,806|-|<br>-|<br>18,806|20,645|
||Presbytery fees|804|-|<br>-|<br>804|613|
||Ministry and support staff||||||
||costs|56,091|-|<br>-|<br>56,091|51,662|
||Congregational running||||||
||expenses|49,291|24,099|<br>-|<br>73,390|57,897|
||Donations to Missions and||||||
||charities|28,128|11,382|<br>-|<br>39,510|21,327|
||Governance costs|1,680|-|<br>-|<br>1,680|1,440|
|||------------|------------|------------|------------|------------|
|||154,800|35,481|<br>-|<br>190,281|153,584|
|||=======|=======|=======|=======|=======|
|**9.**|**OTHER EXPENDITURE**||||||
||Other expenses|1,000|-|<br>-|<br>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|
|||||=======||=======|



7 



**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). 

8 



**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|
|||||=======|=======|



9 



**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|
|||=======|=======|



10 



**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 -----**<br>
||||||||
|---|---|---|---|---|---|---|
|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 -----**<br>


11 



**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.** 

12