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2023-08-31-accounts

Page
Legal and Administrative Information 1-2
Report ofthe Trustees 3-12
Independent Auditors' Report 13-15
Consolidated Statement of Financial Activities 16
Statement of Financial Activities 17
Balance Sheets 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20-32
Legal and Administrative Information
Chair Martin Adeney retired 17 May 2023
Liz Fuller elected 6July 2021
Trustees Doreen Aislabie retired 17 May 2023
Katherine
Baldwin		 re-elected 6 July 2021
Alice Brown appointed
11 May 2022
Paul Candler elected 17 May 2023
Simon Edwards appointed
17 May 2023
Charo Guardiola elected 17 May 2023
Claire Jebson elected 17 May 2023
Nicola Jones retired 17May 2023
Steve Kennard re-elected
11 May 2022
Stuart Orr re-elected
11 May 2022
John Robinson elected 6July 2021
Stephen
Smith		 appointed
6July 2021
Evelyn Wilder retired 17May 2023
Andrew Yeo elected 11 May 2022
Staff Dr lan Dungavell FSA AlccM Chief Executive
At 1 January 2024 Judith Chadbourne scca Head of Finance
Leo Crane Director of Development
Judith
Etherton		 Archivist
Claire Freston AlccM Registrar
Victor Herman Sexton
Leighann
Heron		 Project Director
Kim Nazarko Volunteering
Manager
Nick Powell Visitor Experience Manager
Guinevere
Short		 Head of Operations
Sally Taylor Bookkeeper
Kate White Project Director
Gardeners
Frank Cano Head Gardener
Jose Ballesteros Barragan
Zurab Gogidze
Erik Harris
Adam
Howe
Friends ofHighgate Cemetery Cemetery Trust
Legal and Administrative Information
Bankers Lloyds Bank pic
140Camden
High Street
London
NW1 ONG
Unity Trust Bank pic
4 Brindleyplace
Birmingham
81 2JB
CCLA Investment
Management		 Limited
BSQueen Victoria Street
London
EC4V 4ET
Investment advisors BNY Mellon
Fund Managers		 Limited
160Queen Victoria Street
London
EC4V 4LA
Auditors Knox Cropper
LLP
65 Leadenhall
Street
London
EC3A 2AD
Company number 3157806
Charity number 1058392
Registered office Highgate
Cemetery
Swain's
Lane
London
N66'

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2023 2022
Group Trust Group Trust
Notes E E E
Fixed assets
Tangible fixed assets 11 47,846 47,846 44,457 1,628
Investments 12 11,370,212 11,370,212 11,111,535 11,111,535
Investment
in Subsidiary		 12 2 2
11,418,058 11,418,060 11,155,992 11,113,165
Current assets
Stocks 15,366 10,290
Debtors 14 77,378 74,569 29,472 1,627
Cash at bank 15 465,247 447,088 1,074,219 1,022,193
557,991 521,657 1,113,981 1,023,820
Creditors: amounts falling due
within one year 16 (293,963) (259,388) (374,478) (243,696)
Net current assets 264,028 262,269 739,503 780,124
Total assets less current liabilities 11,682,086 11,680,329 11,895,495 11,893,289
Provision for liabilities 18 (557)
Total net assets E11,682,086 E11,680,329 E11,894,938 E11,893,289
Funds
Unrestricted funds- general 19 2,736,873 2,735,116 1,887,436 1,885,787
—designated 19 8,937,711 8,937,71 1 10,000,000 10,000,000
Restricted funds 17 7,502 7,502 7,502 7,502
Total funds E11,682,086 E11,680,329 E.11,894,938 E11,893,289

2023 2022
Notes E E 6
Cash flows from operating
activities
Net cash provided
by operating		 A (607,775) 110,261
activities
Cash flows from investing
activities
Dividend
and interest
received		 17,328 3,582
Purchase of tangible
fixed assets		 (18,525) (42975)
Disposal oftangible
fixed assets		 20,000
Net cash used in investment
activities		 (1,197) (19,393)
Change
in cash and cash
equivalents
in the financial
year		 (608,972) 90,868
Cash and cash equivalents
at the
beginning
of the financial year		 1,074,219 983,351
Cash and cash equivalents
at the		 end 6465,247 F1,074,219
of the financial
year
2023 2022
Notes to the statement
ofcash flows		 f f
A
Reconciliation
of net income		 to net cash flow from
operating
activities
Net (expenditure)/income for the financial year (212,852) (612,976)
Adjustments
for:
Depreciation 12,064 9,365
Loss/(Gain)
on disposal of tangible		 fixed assets 3,072 (1,745)
(Gains)/losses
on investments		 (18,875) 592,046
Dividends
and interest		 (257,130) (185,257)
(Increase)/Decrease
in debtors		 (47,906) 69,954
(Decrease)/Increase
in creditors		 Bt provisions (81,072) 241,324
Increase
in stock		 (5,076) (2,450)
Net cash provided
by operating		 activities E(607,775) 6110,261
8
Analysis of cash and cash equivalent
Cash at bank f465,247 E1,074,219
C
Analysis of changes
in net funds
At Cash At
01/09/2022 Flows 31/08/2023
Cash 61,074,219 E(608,972) 6465,247

2023 2022
f E
Turnover 501,340 813,632
Grants received 555,200 860,000
Other operating income 1,447 1,851
Cost ofsales (782,797) (1,249,922)
Administrative expenses (275,135) (417,407)
Interest received 1
Profit/(Loss)
before taxation		 56 8,154
Tax 52 (529)
E 108 E7,625
3 Subscriptions, donations and legacies
Subscriptions 9,744 10,604
Donations 48,112 41,206
Gift Aid 5,595
Legacies 95,068 24,647
E158,519 E76,457
Enil of donations relate to restricted funds (2022:f27,000)
4 Charitable
activities
Highgate
Cemetery admissions		 577,049 507,412
East side only admissions 116,437 120,203
Merchandise and publications 39,583 37,278
Burial rights 702,864 632,917
Burial fees 79,549 67,500
Memorial
sales		 65,064 55,930
E1,580,546 E1,421,240

2023 2022
f f
5 Other trading activities
Filming
and sundry		 income f39,089 f45,546
6 Investment
income
Investment
income		 240,612 185,187
Bank interest 16,518 70
f257,130 f185,257
7 Raising funds
Costs of raising grants,
subscriptions and donations (note 9) f82,166 f76,560
Charitable
activities
Burial rights and memorials 49,842 32,307
Merchandise 18,863 15,155
Private
Bill (Highgate		 Cemetery Act) 9,340
Conservation projects 937,053 686,231
Cemetery
running		 costs 428,489 264,561
Staff costs 330,233 282,301
Depreciation 7,742
Archives 1,843 1,497
1,774,065 1,291,392
Support costs (note 9) 410,832 382,800
F2,184,897 E1,674,192

Support costs
2023 2022
f f
Legal & professional fees 40,711 70,349
Auditors'
remuneration		 5,300 6,180
Governance
costs		 9,648 16,443
Staff costs 384,497 311,948
IT support 12,937 8,068
Telecoms 5,857 6,446
Printing,
postage &		 stationery 17,323 19,519
Miscellaneous 7,896 10,258
Subscriptions 1,435 784
Depreciation 4,322 9,365
Loss on disposal 3,072
492,998 459,360
Allocated to:
Raising funds 82,166 76,560
Charitable
activities		 410,832 382,800
f492,998 f459,360

Allocation ofstaff costs
Raising Charitable
Funds
f		 Activities
f		 Totalf
Office staff —direct 125,235 125,235
Office staff —support 64,083 320,414 384,497
Burials staff 46,594 46,594
Landscape staff 158,404 158,404
f64,083 F650,647 f714,730
Staff costs
2023
f		 2022
f
Wages and salaries 603,902 485,248
Social security costs 60,149 46,533
Pension costs 47,353 37,845
Agency staff 3,326 24,625
F714,730 f594,251
2023 2022
1
1

Tangible fixed assets
Plant 8t Fixture 8t Archive
Group Machinery
f		 Fittings
f		 Materials
f		 Totalf
Cost
At
1 September
2022		 179,425 4,273 1,628 185,326
Additions 18,525 18,525
Disposals/write
offs		 (18,004) (4,273) (1,628) (23,905)
At 31 August 2023 179,946 179,946
Depreciation
At 1 September
2022
Charge for year		 136,596
12,064		 4,273 140,869
12,064
Disposals/write
offs		 (16,560) (4,273) (20,833)
At 31 August 2023 132,100 132,100
Net book value
At 31 August 2023 f47,846 f47,846
At 31 August 2022 f42,829 f- f1628 f44,457
Trust
Cost
At 1 September
2022
Additions		 4,515 4,273 1,628 5,901
4.515
Transfer from subsidiary 175,431 175,431
Disposals/write
offs		 (4,273) (1,628) (5,901)
At 31 August 2023 179,946 179,946
Depreciation
At 1 September
2022		 4,273 4,273
Charge for year 5,336 5,336
Transfer from Subsidiary 126,764 126,764
Disposa Is/write
offs		 (4,273) (4,273)
At 31 August 2023 132,100 132,10
Net book value
At 31 August 2023 f47,846 f47,846
At 31 August 2022 f- f.1,628 f1,628

Fixed ass ets investm ents
2023
2022
f f
Investments (see below) f11,370,212
f11,111,535
Highgate Cemetery Limited (shares at cost) f2
BNY Mellon CCLA 2023 2022
E f f
Market value at 1 September 11,077,145 34,390 11,111,535 11,521,906
2022
Additions
Dividends reinvested 239,802 239,802 181,675
Net investment
gains/(losses)		 18,610 265 18,875 (592,046)
Market value at 31 August f11,335,557 f34,655 f11,370,212 f11,111,535
2023
Historical cost at 31 August f7927481 f30000 f7957481 f7717679
2023

14 Debtors
Group 2023f 2022
F.
Trade debtors 65,750 6,965
Prepayments and accrued income 11,130 22,507
Other debtors 498
f77,378 529,472
Trust
Trade debtors 63,788 371
Prepayments and accrued income 10,781 201
Taxes and social security costs 1 055
f74,569 E1,627
15 Cash at bank and in hand
Group
The balance is represented by
Lloyds Bank accounts 24,997 111,770
Unity Trust Bank accounts 260,990 254,074
The Charities Official Investment Fund 167,991 703.285
Cash and other accounts 11,269 5,090
f465,247 Fih074,219
Trust
The balance is represented by:
Lloyds Bank Accounts 24,997 100,670
Unity Trust Bank Accounts 243,007 214,813
The Charities Official Investment Fund 167,991 703,285
Cash 11,093 3,425
F447,088 E1,022,193

16 Creditors: amounts falling due within one year
Group 2023
f		 2022
E
Accruals 72,997 84,937
Deferred income 84,618 220,194
Trade creditors 80,389 35,952
Other creditors 5,170
Taxes and social security costs 50,789 33,395
293963 374478
Trust
Trade creditors 79,400 3,731
Other creditors 5,170
Due to Subsidiary 7,965 82,236
Taxes and social security costs 17,632
Accruals 69,931 3,906
Deferred income 79290 153,823
259388 243696
It also includes
b		 ookings
made
in		 advance for entry to the Cemetery.
Group
f		 Trust
6
Deferred income at 1 September 2022 220,194 153,823
Income for memorials 6,853 3,459
Income released in year (211,710) (153,823)
Transferred
from		 Subsidiary 6,550
Booking in advance 10,246 10,246
Burial rights not transferred 59,035 59,035
Deferred income 31 August 2023 f84,618 679,290

17
Analysis		 offunds
Unrestricted Sowerby Other
General Designated Restricted Restricted Total
Group
At 1 September 2022 1,887,436 10,000,000 7,502 11,894,938
Income 2,035,284 2,035,284
Expenditure (1,204,774) (1,062,289) (2,267,063)
Gain on investments 18,875 18,875
Tax 52 52
At 31 August 2023 2,736,873 8,937,711 7,502 11,682,086
At 1 September 2021 12,500,412 7,502 12,507,914
Income 1,703,351 27,000 1,730,351
Expenditure (1723,751) (27,000) (1,750,752)
Loss on investments (592,046) (592,046)
Transfer offunds (10,000,000) 10,000,000
Tax (529) (529)
At 31 August 2022 1,887,436 10,000,000 7,502 11,894,938