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 2023 Jones Chartered Accountants 4 Comber Street SAINTFIELD BT24 7AZ
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland STATEMENT OF FINANCIAL ACTIVITY For the ear ended 31 December 2023 Total Funds 2023 Total Funds 2022 Unrestricted Restricted Endowment Funds Funds Funds Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 143,332 36,985 29,936 180,317 185,799 29.936 21,108 4,220 3,425 3,991 3,903 418 528 4.220 730 374 135 44 3,126 Total 148,656 67,100 3,126 218,882 214,763 Expenditure on: Raising funds Charitable activities Other 321 154,281 1,750 896 33,512 1,217 691 187,793 190,281 1,750 1,000 Total 156,352 34,408 190,760 191,972 Net Ilossllgain on investments 10,494 10,494 (13,496) Net (expenditurellincome {7,696) 32,692 13,620 38,616 9,295 Transfer between funds 141,668) 44,794 (3.126) Net movement in funds (49,364) 77,486 10,494 38,616 9,295 Reconciliation of funds.. Total funds brought fotward 1,321,302 197,173 129,672 1,648,147 1,638,852 Total funds carrled forward 1,271,938 274,659 140,166 1,686,763 1,648,147
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland BALANCE SHEET As at 31 December 2023 Total Funds 2023 Total Funds 2022 Unrestricted Roslrlcted Endowment Fund5 Funds Funds Note Fixed assets Tangible assets Investments 12 1,192,523 13 1,192,523 1,210,983 140,166 140,166 129,672 Total fixed assets 1,192,523 140,166 1,332,689 1,340.655 Current assets Debtors Cash at bank and in hand 14 15 26,708 22,270 56,297 256,889 48,978 37,614 313,186 286,162 Total current assets 83,005 279,159 362,164 323,776 Llabilities Creditors: Amounts falling due within one year 16 3,590 4,500 8,090 16,284 Net current assets 79,415 274,659 354,074 307,492 Total net assets 1,271,938 274,659 140,166 1,686,763 1,648,147 Fund of the charity Unrestricted funds Restricted income funds Endowment funds 18 1,271,938 1,271,938 1,321,302 274,659 197,173 140,166 140,166 129,672 274,659 18 Total charity funds 1,271,938 274,659 140,166 1,686,763 1.648,147 Approved by the Kirk Session at a meeting on 22 April 2024 and signed on its behalf on 29 April 2024 by: Bryan Rea Colin Black
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS 31 December 2023 ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS The financial ststements have been prepared in accordance with Accounting and Re- porting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Ireland IFRS102) (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 thal 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 al the congregation's discretion,. the income derived from the endowment is lo 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 2023 ACCOUNTING POLICIES (continued) INCOMING RESOURCES 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. (li} Incoming resources with related expenditure ere incoming resources have related expenditure {as with fundraising income) the incoming resources and related expenditure are reported gross in the SOFA. (iiil Grants and donations Grants and donations are only included in the SOFA when the congregation has unconditional entitlemenl 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. (v51) Donated servSces and facllStSes 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. (vill) 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 (conlinued) 31 December 2023 ACCOUNTING POLICIES (continued) EXPENDITURE AND LIABILITIES (xil Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay out resources. {xiil 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. Ixiiil Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specifi'c 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 Buildings Fixtures and equipment over 50 years 25 % to 33 113 % straight line {xvi) Investments Investments qLroted 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 2023 DONATIONS AND LEGACIES Total Funds 2023 Total Funds 2022 Unre5tTlcted Restrlcted Endowment Funds Funds Funds Recorded giving Loose collections Donations and gifts Legacies GiftAid 96,166 461 20,870 17,592 113,758 103,567 461 359 34,725 41,046 10,000 30,827 13,855 25,835 5,538 31,373 143,332 36,985 180,317 185,799 CHARITABLE ACTIVITIES Income from charitable activities Fees from burial fees Membership fees Fundraising events Grants 2,707 1,180 4,719 19,730 1,600 2,707 1,180 4,719 19.730 1,600 1,920 3,286 14,502 1,400 29,936 29,936 21,108 OTHER TRADING ACTIVITES Letting of premises 4,220 4,220 3,425 INVESTMENTS Deposit interest PCI General Investment Fund Nl Central Investment Fund 730 135 865 1,946 1,180 675 2,021 1,207 1,946 1,180 730 135 3,126 3,991 3,903
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (continued) 31 December 2023 OTHER INCOME Total Funds 2023 Total Funds 2022 unStrICted Restricted Endowment Funds Funds Funds Other income 374 44 418 528 RAISING FUNDS FWO envelopes Fundraising events 321 321 896 270 421 896 321 896 1,217 691 CHARITABLE ACTIVITIES General Assembly Assessments Presbytery fees Ministry and support staff costs Congregational running expenses Donations to Missions and charities Governance costs 20,225 900 20,225 900 18,806 804 59,689 59,689 56,091 52,126 22,370 74,496 73,390 19,361 1,980 11,142 30,503 1.980 39,510 1,680 154,281 33,512 187,793 190,281 OTHER EXPENDITURE Other expenses 1,750 1,750 1,000 10. EMPLOYEES 2023 2022 Employment costs Stipend and salaries Social security costs Pension contributions 53,925 5,028 9,200 50,580 4,897 8,722 68,153 64,199
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS {GontinuedJ 31 December 2023 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= 2023 2022 Average number of employees There were no employees in receipt of employee benefits in excess of £60,000 (2022.. 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 Ire- land, 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 Scheme12009} 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 lo ensure the Scheme is sufficiently funded lo 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 Funds 2023 Total Funds 2022 Contributions 9,200 8,722 The congregation also offers a NEST pension scheme to all other employees. No employees are currently members of this pension scheme12022 - none).
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (continued) 31 December 2023 12. TANGIBLE FIXED ASSET Fixtures & Land Buildings equipment Total Cost or valuation At 1 January 2023 Additions Disposals 375,000 4,500 961,510 14,842 1,351.352 4,500 At 31 December 2023 379,500 961,510 14,842 1,355,852 Depreclatlon At 1 January 2023 Provision for year Disposals 133,711 19,230 6,658 3,730 140,369 22,960 At 31 December 2023 152,941 10,388 163,329 Net Book Value At 31 December 2023 379,500 808,569 4,454 1,192,523 At 31 December 2022 375,000 827,799 8,184 1,210,983 13. INVESTMENTS 2023 2022 PCI General Investment Fund Nl Central Investment Fund 99,765 40,401 91,486 38,186 140,166 129,672 Value at 1 January 2023 Gainsl{losses on revaluation) 129,672 10,494 143,168 (13,4961 Value 31 December 2023 140,166 129,672
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (continued) 31 December 2023 14. DEBTORS 2023 2022 Gift Aid Recoverable Other debtors Prepayments and sundry debtors 26,751 16,167 6,060 25,388 6,614 5.612 48,978 37,614 15. CASH AT BANK AND IN HAND Danske Bank current accounts Cash in hand 310,111 3,075 284,499 1,663 313,186 286,162 16. CREDITORS- amounts falling due within one year Accruals 8,090 16,284 10
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (continued) 31 December 2023 17. FUND BALANCES AND RECONCILIATION OF FUNDS Balance at start Income Gainsl Expend Losses Transfer Balance at end FUND Unrestricted Funds Church General Account 1,321,302 148,656 (156,352) 141,66811,271,938 Restricted Funds Church Property Account Church Organisations Account 177,578 53,724 122,169) 41,632 250,765 19,595 13,376 (12,239) 3,162 23,894 197,173 67,100 (34,408) 44,794 274,659 Endowment Funds PCI General Investment Fund 91,486 Nl Central Investment Fund for Charities 1,946 8,279 (1,946) 99,765 38,186 1,180 2,215 {1,180) 40,401 129,672 3,126 10,494 (3,1261 140,166 Total 1,648,147 218,882 1190,760) 10,494 1,686,763
SECOND PRESBYTERIAN CHURCH SAINTFIELD a congregation of the Presbyterian Church in Ireland NOTES TO THE ACCOUNTS (continued) 31 December 2023 18. RELATED PARTY TRANSACTION One of the Trustees was in receipt of remuneration during the current year in relation to their engagement as minister following {2022 - 1). The total remuneration paid excluding pension and social security costs was £38,828 (2022 - £36,347). Pension contributions paid in respect of the minister to the Presbyterian Church in Ireland Pension Scheme {20091 were £9,20012022 - £8,723). No trustee received remuneration in relation to their role as trustee (2022 - none). Expenses reimbursed to the minister during the year totalled £7,108 (2022 - £6,722). 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 (2022 - 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.. £20,225 {2022 - £18,806) for congregational assessments £9,221 {2022- £8,882} towards the United Appeal £Nil {2022 - £1,777) toward the World Development Appeal {v} The congregation contributed £900 (2022 - £804) towards Presbytery Assessments during the year There were no other related party transactions. 12