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2021-12-31-accounts

Notes 2021 2020
Income from: General Designated Restricted Endowment
Fund Fund Funds Funds Combined Combined
E E E E E E
Donations
and legacies		 274,395 25,756 300,151 435,069
Other trading
activities		 4 30,865 6,523 37,388 22,983
investments 5 383 798 47,805 48,986 54,982
Total income 305,643 33,077 47,805 386,525 513,034
Expenditure
on:
Charitable
activities		 7 322,087 7,416 32,148 666 362,317 451,090
Raising funds 9 2,509 5,329 16,870 24,708 19,464
Total resources
expended		 324,596 7,416 37I477 17,536 387,025 470,554
Net income before gains and
losses on investments (18I953) (7,416) (4I400) 30&269 (500) 42,480
Gains/(Losses)
on investments		 14 3,713 5,895 9,608 (4,153)
Net income before transfers (18,953) (7,416) (687) 36,164 9,108 38,327
Transfers
between
funds		 12 25,000 (25,000)
Net income after transfers 6,047 (7,416) (687) 11,164 9,108 38,327
Other recognised
gains/losses;
Actuarial
gain/(losses)
on
defined benefit pension scheme		 12,767 12,767 3,345
Net movement
in funds		 18,814 (7,416) (687) 11,164 21,875 41,672
Reconciliation ofFunds
Total Funds brought
forward		 18,686 577,035 73,395 1,421,245 2,090,361 2.,048,689
Total Funds carried forward 37,500 569,619 72, 7DB 1,432,409 2,112,236 2,090,361

2021 2020
General Designated Restricted Endowment
Notes Fund Fund Funds Funds Combined Combined
Fixed assets E E E E E E
Plant and equipment 13 1,124 1,124 2,249
Financial assets 14 29,671 1,428)941 1,458,612 1,449,003
Total fixed assets 30,795 1,428, 94'i 1,459,736 1,451,252
Current
assets
Debtors
Gift aid recoverable 1,469 1,469 3,674
Hollybush
Vale Trustees		 16 47&424 47,424 57,424
Trade debtors 692 692 639
2, 161 47,424 49I585 61,737
Cash at bank and in hand 62)934 522,195 49,967 28I468 663,564 647,843
Total current assets 65,095 569,619 49,967 28,468 713,149 709,580
Liabilities:
amounts		 falling due
within one year
Creditors
for goods		 and services (5,050) (5,517)
Clients account for 100Frognal (2,426) - . (2,426) (3,710)
Clients account Hogybush Vale (5,628) (5,628)
Other Creditors 15 (18,504) (25,000) (43,504) (44,436)
(23,554) (8,054) (25,000) (56,608) (53,663)
Net current assets 41,541 569,619 41I913 3,468 656,541 655,917
Creditors
faiiing due after one year
pension
scheme liability		 21 (4&041) (4)041) (16,808)
Net assets 37,500 569,619 72,705 1,132,409 ~2, 112,236 ~2,090,361
Funds:
Unrestricted
General		 Fund ~ 37)500 37,500 18,686
Designated
for Future Repairs		 569,619 569,619 577,035
Restricted
Funds		 17 72)708 72I708 73)395
Endowment
Funds		 18 1,432,409 1,432,409 1,421,245
37&500 569,619 72,708 1,432,409 2,112,236 2,090,361

2021 2020
E E E E
Net cash from operating
activities		 (43,265) 1,344
Cash flows from investing
activities
Dividends,
interest
and rent from investments		 48,986 54,982
Proceeds from the sale of Investments 19,945
Purchase of investments (20,000)
Net cash provided
by/(used
in) investing		 activities 48,986 48,986 54,927 54,927
Cash flows from financing
activities
Loan repayments
from Trustees of		 Ho(ly Bush Vale 10,000 10,000
Loan to Trustees of Holly Bush Vale (57,424)
Net cash provided
by/(used
in) financing		 activities 10,000 (57,424) (57,424)
Change
in cash and cash equivalents		 in the reporting period 15,721 (1,153)
Cash and cash equivalents
at 1 January		 647,843 648,996
Cash and cash equivalents
at 31 December		 663,564 647,843
Reconciliation
of net income/(expenditure)		 before investment gains
Net income before investment
gains		 31 December (500) 42,480
Adjustments
for:
Depreciation
charges		 1,125 1,125
Dividends,
interest
and rent from investments		 (48,986) (54,982)
Interest
paid on borrowings
Decrease/(increase)
in debtors		 2,151 13,158
(Decrease) /increase
in creditors		 2,945 (437)
Net cash provided
by/(used
in) operating		 activities (43,265) 1,344
Analysis
of cash and cash equivalents
Cash in hand 46,921 37,668
Deposit for fixed period 200,000 200,000
Deposits less than 3 months 416,643 410,175
663,564 647,843

General Designated Restricted Endowment 2021 2020
Notes Fund Funds Funds Funds Combined Combined
Planned
giving		 including gift aid 156,030 156,030 176,859
Income tax recoverabie 40,765 40,765 41,017
Collections:
ordinary		 services 13,589 13,589 9,862
Collections: special services 3,953 3,953 1,736
Donations 6,737 5,377 12,114 28,158
Voluntary
rate		 16,426 16,426 6,336
Legacies 53 53 101,000
Social events, 1,210 1,210 322
Grants received;
Friends of the Drama 16 4,000 4,000 3,500
Hampstead
Church
Music Trust		 16 50,070 50,070 52,500
Listed Places of Worship re VAT 1,941 1,941 13,779
274,395 25I756 300,151 435,069
Note 4 Other trading activities
Fees for use of Church 5,315 5,315 2,920
Parish rooms 18,118 18I118 12,194
Spring fair and other events 6,464 385 6,849 1,363
Printing
and books		 20 20 50
Community
choir		 3,799 3,799 3,422
Feed in Tariff 948 948 549
Traidcraft
stall		 2,339 2,339 2,485
30,865 6,523 37,388 22,983
Note 5 Income from Investments
Rent Dennington Park Mansions 4,900 4,900 6,000
Rent 100Frognal 40,680 40,680 40,526
Dividends
and Interest		 383 798 2,225 3,406 8)456
383 798 47,805 48,986 54,982
Note 6 Legacies received
The Estate of P George
- final distribution 53 53
The Estate of E Spottiswoode 100,000
The Estate of E Rose 1,000
53 53 101,000

Note 7 Activities
rela		 tin g directly to the work of the Church
General Designated Restricted Endowment 2021 2020
Notes Fund Fund Funds Funds Combined Combined
Ministry:
diocesan common		 fund 90,000 90,000 90,000
clergy expenses 10 3,735 3,735 4,943
accommodation 6,804 6,804 9,503
Children
Et Youth worker		 11 26,927 26,927 26,400
Parish Administrator 11 27,265 27,265 26,884
Pension deficit apportionment 11 3,954 3)954 3,838
Music staff 11 31,877 3,362 149 35,388 30,110
Choir - adults
and children		 42,967 42,967 49,720
Other music costs 2,402 115 67 2,584 7,454
Children
and Youth		 1,179 1,179 1,591
Heat
Et light		 9,396 9,396 6,827
Fabric expenditure/maintenance 7,578 14,126 29,120 70,175
Parish rooms 11)093 11,093 11,310
recoverable
VAT on repairs		 1,941 1,941 8,137
Depreciation 13 1,125 1,125 1,125
Insurance 10,597 10,597 11,306
General expenses 12,571 12,571 16,931
IT and communications 4,554 4,554 5,555
Social events 424 424 135
Flowers 601 601 587
Grants made 8 24,573 5,559 450 30,582 64,ii6
Refugee sponsorship 7,260 7,260 2,193
Independent
Examination		 fee 2,250 2,250 2,250
322,087 7,416 32,148 666 362,317 451,090
Note 8 Grants
made
Church overseas:
- missionary
societies		 5,400 5,400 5,400
—relief and development agencies 7,000 975 7,975 7,715
UK missions/other
Church		 Societies 8,600 2,695 11,295 12,449
Secular charities 2,573 1,889 4,462 6,440
Churches
together
in		 Hampstead 30,562
Individuals
for relief		 of poverty 450 450 550
Hampstead
Parochial		 School 1,000 1,000 1,000
2) 24 5)3 5 559 450 30,582 64,116
Note 9 Expenditure
on		 raising funds
Services, voluntary
rate		 Et events 2,708 2, 708 2,209
Printing
and books		 2,509 2,509 2,490
Traidcraft stall 2,621 2,621 1,114
Dennington
Park Mansions		 3,753 3,753 1,461
100Frognal 13,117 13,117 12,190
2, 509 5,329 16,870 24,708 19,464

2021 2020
Salaries 84,482 78,666
Social Security 1,230 961
Pension costs 7,822 8,240
93,534 87,867
No employee
received employee
benefits
in excess of E60,000.
Ihe PLL operates a money purchase
scheme through
II'I Keurement		 boluuons for staft.

Note 13 Fixed assets - equipment - equipment
Equipment Depreciation Net Book Value
Assets at start of year 25,679 (23,430) 2,249
Additions (1,124) (1,124)
Disposals
Assets at end ofyear 25 679 24 554 1 125
Note 14 Financial assets
The significance offinanciol investments to the PCC's finoncial position isset out in the PCC's annual report,
Investments
at fair value:		 1 January Purchases Investment 31 December
2021 (Sales) Gains(Losses) 2021
-Restricted
1267
CBF Investment		 Fund shares 25,957 3 713 29,670
25,957 3,713 29,670
-Endowment
Freehold of 100Frognal and long lease of Flat A 981,000 981,000
Long lease of Flat 10a, Dennington Park Mansions 399,500 399,500
2,338 CBFInvestment Fund shares 21,944 3,139 25,083
1,501 M Et G Charifund units 20,602 2,756 23,358
1,423,046 5 895 1,428,941

Note 18 Endowment funds Balances Income Expenditure (Losses)l Transfers Balances
1 January Gains on between 31 December
2021 investments Funds 2021
Frances Grossfield Memorial Fund 9,760 447 (67) 1,108 11,248
John Cooling Fund
Frederick
Eickhoff		 Memorial Fund 15,596
2,869		 515
149		 (450)
(149)		 1,279
369		 16,940
3,238
Parish Development Fund 1,393,020
1,421,245		 46,694
47,805		 (16,870)
(17,536)		 3,139
5,895		 (25,000)
(25,000)		 1,400, 983
1,432,409
2020 1,414,997 51,765 (14,694) (5,823) (25,000) 1,421,245

the discount
rate		 is recognised a s a finan ce cost.
31 December 31 December
PRESENT VALUES OF PROVISION 2021 2020
E C
Present value of provision 4,041 16,808
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Provision at start of year 16,808 20,153
Unwinding
of the		 discount factor (interest expense) 40 204
Deficit contribution
paid		 (3,953) (3,838)
Remeasurements - impact of any change in assumptions (46) 289
Rerneasurements - amendments to the contribution schedule (8,808)
(12,767) (12,767) (3,345) (3,345)
Provision at end of year 4,041 16,808
IMPACT ON STATEMENT OF FINANCIAL ACTIVITIES
Interest expense 40 204
Remeasurements - impact of any change in assumptions (46) 289
Remeasurements —amendments to the contribution schedule (8,808)
Contributions
paid in respect of		 future service* 3,664 4,402
Costs recognised in income and expenditure
account		 Note 7 42,967 3,838
"includes defined contribution schemes and future service contributions (i.e, excluding any deficit reduction payments) to defined
benefit schemes which are treated as defined contribution schemes.
ASSUMPTION 31 December Combined 2020 2019
Rate of discount 1.18K 0.2770 1.13K

Note 22 Grants
and		 Note 22 Grants
and		 donations donations to charities charities 2021 2021 2021 2020 2020
Unrestricted Restricted Combined Combined E
Church Overseas- Missionary Societies
ALMA 1,800 1,800
Embrace the Middle East 1,800 1,800
US. unrestricted 1,800 1,800
5,400 5,400 5,400
Overseas-
Relief		 ft Development Agencies
Asra Hawariat
School		 1,000 1,000
Bethlehem
Arab Society for Rehabilitation		 1,000 1,000
Practical Action 1,000 1,000
island Hospice Zimbabwe 1,000 1,000
Send a Cow 975 715
Sightsavers 1,000 1,000
Christian
Aid		 2,000 2,000
7,000 975 7&975 7,715
UK Missions
and other Church		 organisations
Bishop of Edmonton's Discretionary Fund 695
Bishop of London's Lent Appeal 919
Caris Haringey 2,000 156 4,489
Church of England's Children Society 2,000 862 2,641
Caris Camden/Caris Families 2,000 2,688
London
Churches		 Refugee Fund 2,000 2,000
C4WS 63 31
PSALM 600 600
8,600 2,695 11,295 12,449
Hampstead
Parochial
School
Relief of Poverty
(John Cooiing		 Fund) 1,000 450 1)000
450		 1,000
550		 1,000
550
Secular charities
Citizens
UK		 700
Marie Curie 209
Solace 640
Soldiers Sailors b Airmen's
Families		 Assn 735
Age UK (Camden) 1,500
Traidcraft
Foundation		 465 600
XLP 573 427 1,000
Freedom
from Torture		 2,000 53 2,000
2,573 1,889 4,462 6,440
TOTAL 24,573 6,009 30,5&2 33,554

Note 23 Prior period comparative statement
offinancial
ac		 statement
offinancial
ac		 statement
offinancial
ac		 tivities.
Statement
of Activities		 for year ending
31		 December 2020
Income from: General Designated Restricted Endowment
Fund Fund Funds Funds Combined
E E E E E
Donations
and legacies		 307,551 100,000 27,518 435,069
Other trading
activities		 16,519 6,464 22,983
Investments 2,127 1,090 51,765 54,982
326,197 100,000 35,072 51,765 513,034
Expenditure
on'.
Raising funds 349,648 48,786 51,613 1,043 451,090
Charitable
activities		 2,490 3,323 13,651 19,464
Total resources expended 352,138 48,786 54,936 14,694 470,554
Net income before gains on
investments (25,941) 51,214 (19,864) 37,071 42,480
Net Gain on investments 1,670 (5,823) (4,153)
Net income before transfers (25,941) 51,214 (18,194) 31,248 38,327
Transfers
between
funds		 25,000 (25,000)
Net income after transfers (941) 51,214 (18,194) 6,248 38,327
Other recognised
gains/losses;
Actuarial
gain on defined
benefit pension scheme		 21 3,345 3,345
Net movement
in funds		 2,404 51,214 (18,194) 6,248 41,672
Reconciliation ofFunds
Total Funds brought
forward		 16,282 525,821 91,589 1,414,997 2I048,689
Total Funds carried forward 18,686 577,035 73,395 1,421,245 2,090,361