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2022-12-31-accounts

Trustees
exofficio		 Trustees
exofficio		 Trustees
exofficio
The Rt Revd 3onathan Baker, Guild Vicar St Andrew Holborn
Bishop of Fulham
Mr Paul Weston Churchwarden
ofSt Andrew		 Holborn
The Revd Christopher Smith Incumbent
ofSt Alban		 the Martyr
Vacancy Representing
the incumbent		 of St George the Martyr
Nominated
Cllr Nasim Ali, OBE Nominated
by the London
Borough of Camden
Dr Brian Hanson, CBE Nominated
by the Guild Church		 Council ofSt Andrew Holborn
Mr Paul
Martinelll		 Nominated
by the City		 of London Corporation
Co-opted
Mr Neil Anderson (from 1 3uly 2022)
Mr David Ballance
Mr 3eremy Simons, OBE
Mrs 3anle Spring
Off)cars
Clerk to the Trustees Mr Nicholas
Hills
Grants Officer Miss Anna Paterson
Principal advisers
Investment managers: Sarasin
ik Partners
LLP
3uxon House
100St Paul's Churchyard
London
EC4M BBU
Swiss Life Asset Managers UK Ltd
55 Wells Street
London
W1T 3PT
MBG Investments
10 Fenchurch
Avenue
London
EC3M 5AG

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2022 2021
Note Total Funds Total Funds
E E
Net Cash Provided
by (used in) Operating		 Activities A (425,867) (54i4,371)
Cash flows from investing
activities
Dividends,
interest and rents from Investments		 566,383 413,369
Movement
in Investment
Manager's
Cash		 (89) 1,827
Proceeds from sale of Investments 372,291
Net proceeds
from sale of investment
property
Purchase of investments		 6,121,002
~6262 118		 ~402,423
Net cash provided
by (used in) investing		 activities 526 178 386064
Change
in cash and cash equivalents
in the		 reporting period 100,311 (158,307)
0
h
d
h ql
I
t
tth
hgl
Ig
1th		 0 diag Id 8 368448 526755
Cash and cash equivalents
at the end of		 the reporting period 8 468,759 368,448
A. Reconciliation
of net income/(expenditure)		 to net cash flow from operating
activities
2022 2021
E E
Net income/(expenditure)
for the reporting		 period
(as per statement
of financial
adivities)		 (2,132,648) 855,815
(Gains)/Losses
on Investments		 2,282,113 (978,735)
Dividends,
Interest and rent from Investments
(Increase)/decrease
in debtors
Increase/(decrease)
in creditors		 (576,920)
1,673
~85		 (422,068)
2,155
(1,538)
Net cash provided
by (used in) operating		 activities (425,867) (544,371)
B. Analysis ofchanges
in net funds		 At 01/01/2022 Cashfiowa At 31/12/2022
E E E
Cash at bank 368'148 1110311 468 758

Total Total
2022 2021
I I
Rental Income
Investment Income 576,712 422,041
Interest Receivable 208 27
576,920 422,068
RAISING FUNDS
2022 2021
6 I
Investment Managers Fees 70
Investment Property Costs —Insurance, Repair 86 Renewals 5,677 122,334
Support Costs (Note 6) 6060
5,677 128,454

RITABLE ACT IV IT IE S
Total Total
2022 2021
E E
Grant-making
Annual
Award		 to Individuals 140,400 147,525
Grants
— Individuals		 67,708 71,230
- Organisations (Note Sa) 152,791 146 129
360,899 364 884
Staff Costs 43,058 37,890
Other Costs 1,763 1,314
Support Costs (Note 6) 29 882 19971
74,703 69 176
Total Charitable Activities 435,602 6(24,059
rants awarded to organisations are shown below:
2022 2021
Organisatlon E E
Akash Residents' Association 4,800
Age UK City of London 10,000
Age UK East London 10,000
C4WS Homeless Project 1,000
Citizen Advice Camden 10,000
CCIWBS 9,500
Coram's
Fields		 20,033 1'l,544
Fitzrovia
Community		 Centre 4,932 800
Holborn
Community		 Association 15,000 20,000
Interock 3,500
KCBNA 20,000 13,240
Kids —Home Learning Support 11,200 15,782
Mary Ward Legal Centre 21,323
Mental
Flight
Club		 4,800
October Gallery 10,000
Only Connect 15,000
St George the Martyr School 5,005
St Mungo's 20,000 6,935
Street Storage 3,000
Thomas Coram Nursery School 4,820
WomenOthewell Project 16,500
YMCA 7,206
152,791 146,129

(b) Reconciliation of Gran ts Payable
2022 2021
Organisation E E
Commitment at 1 3anuary 2,435 6,045
Commitments
made
in year (above)
Grants
paid during the year		 360,899
~369,262		 364,884
~366,494
Commitments at 31 December 3,582 2,435
Creditors due within one year (Note 11) 3,582 2,435
SUPPORT COSTS
2022 2021
E E
Staff Costs 12,946 10,579
Administration
Cost Recharge		 10,025 7,680
Insurance 222 1,480
Sundry
Expenses		 337 162
Governance Costs 6,352 6,120
29,882 26,021

F COS TS
2022 2021
E E
Salaries 46,626 40,237
Social Security 5,082 'i,208
Pension Contributions 4,296 4 624
56,004 48,469

TMENT PROPERTY
2022 2021
Investment
Property at Market Value		 E E
At 1January
2022
Disposal		 5,750,000
~5750,000		 5,750,000
At 31 December 2022 5,750,000
Cost of Property 6,000

vestm
:		 ent
Property
w		 as sol d durin g the year. The procee ds of sale and gain on disposal was as
E
Sales Proceeds 6,250,000
Carrying
Value
Legal
82 Professional		 Fees (5,750,000)
~128998
Realised
gain on disposal		 371,002
ED INVESTMENTS
2022 2021
E E
(a) Quoted Investments at Market Value 17,681,255 14,173,252
Cash with Investment Managers 90 1
Total Investments 17,681,345 14,173,253
(b) Movement
in Investments
Market value as at 1 January 2022 14,173,252 13,165,385
Additions 6,161,118 401,423
Disposals (372,291)
Investment — Realised 808
gains/(losses)
- Unreallsed (2,653,115) 977,927
Market value at 31 December 2022 17,681,255 14,173,252
Cost at 31 December 2022 19,107,565 12,946,446

Investments
with m		 ore than 5%of market value, wh ich are considered
to be materia		 l.
0/0 of
Security Portfolio
Sarasin Endowment Funds 67.7 11,976,567
Property
Income Trust for Charities		 17.8 3,149,640
MikG Charifund 14.5 2,555,048

Prepayments 84 Other Debtors
Investment Income Receivable
Parish Estates Charity
Bromfleld's Educational Foundation

St Andrew Holborn Trading
St Andrew Holborn Church Foundation
Accruals
86		 Deferred Income
Grants Payable (Note Sb)
2022 2021
I E
8 745
21,685 11,148
1,428 2,215
149
23,121 14,257
2022 2021
I I
81 21
17 210
6,822 7,921
3,582 2,435
10,502 10,587

Balance at Income Expenditure Balance at
01/01/2022 31/12/2022
I I
St Giles in the Fields and
Bloomsbury United Charity 1,241 2,982l (1,874) 2,351
St Pancras Welfare Trust 125 3,575 (3,575) 125
3VB 3,000 (3,000)
Westminster
Other		 Almshouses 1,366 700
700
10 959		 (700)
~700
~9849		 2 476
Balance at Income Expenditure Balance at
01/01/2021 31/12/2021
I I
St Giles in the Fields and
Bloomsbury United Charity 461 2,950 (2,170) 1,241
St Pancras Welfare Trust 125 2,300
780		 (2,300)
~780		 125
586 6,030 5,250 1,366

OWMENT
FU		 NDS
Permanent Expendable Total
E E E
Balance at 1January
2022		 11,556,153 4,469,272 16,025,'l25
Net Movement in Funds (1,227,544) (563,363) (1,790,907)
Transfer
Balance at 31 December 2022 10,328,609 3,905,909 14,234,518
Balance at 1January 2021 11,154,399 4,160,022 15,314,421
Net Movement in Funds 401,754 309,250 711,004
Transfer
Balance at 31 December 2021 11,556,153 4,469,272 16,025,425

ESTRICTED FUNDS
General Designated Total
E E E
Balance at 1January
2022		 4,268,580 4,268,580
Net Movement in Funds (342,851) (342,851)
Transfer
Balance at 31 December 2022 3,925,729 3,925,729
Balance at 1January 2021 4,049,549 75,000 4,124,549
Net Movement in Funds 144,031 144,031
Transfer 75 QOO 75000
Balance at 31 December 2021 4,268,580 4,268,580