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2022-12-31-accounts

Charity Registration
Number:		 Charity Registration
Number:		 Charity Registration
Number:		 1129 264 264 264 264
Address and Website: Church Row, London
NW3 6UU I www. hampsteadparishchurch.		 org.uk
Trustees under an Act of Parliament of 1827
Ex Officio
The Revd Jeremy Fletcher Vicar (until 23 January 2023)
Martin
Evans		 Churchwarden
Sheena Ginnings Churchwarden
The Revd Graham Dunn Assistant
Curate
Membershi
ofthe		 PCC
Ex Officio
The Revd Jeremy Fletcher *
Martin
Evans *		 Vicar and PCC
Churchwarden		 Chairman
and PCC		 (until 23 January 2023)
Vice Chairman
Sheena Ginnings* Churchwarden
The Revd Graham Dunn Assistant
Curate
As a lay member of
lnigo Woolf *		 the London Diocesan Synod
Treasurer
(also an ex officio member
of the Deanery Synod)		 and an elected member
As iay members of the Camden Deanery Synod
John Barker
Vanessa Fitzpatrick (also an elected member)
Angela Gardner
Rosemary
Loyd
Elected Members
Gaynor Bassey-Fish Electoral Roll Officer
Elizabeth
Beesley
Sarah Cheriton-Jones
Hagar Cliff * Deputy Churchwarden (from 26 September 2022)
Jonathan
Davey
Karunesh
Evans		 (until 25 April 2022)
Seka Graovac (until 6 January 2023)
Jean Harrison
Jenny Lupa *
Jessica Mathur		 Deputy Churchwarden
(from 23 May 2022)		 (until 10August 2022)
Margaret
Pritchard
Jon Siddall "		 Houston (from 25 April 2022)
Deputy
Churchwarden
Handley
Stevens
Nicholas Walser *		 PCC Secretary
Deborah Zandstra Safeguarding Officer
Co-o ted Member
The Revd Jan Rushton Associate Priest

Notes 2022 2021
Income from: General Designated Restricted Endowment
Fund Fund Funds Funds Combined Combined
E E E E E E
Donations
and legacies		 262,281 26,958 289,239 300,151
Other trading activities 31,893 11,350 43,243 37,388
Investments 2&686 1,793 50,074 54,553 48&986
Total income 296,860 40,101 50,074 387,035 386,525
Expenditure
on:
Charitable
activities		 7 314,172 39&174 1 217 354,563 362,317
Raising funds 9 4&280 8,449 12,671 25,400 24,708
Total resources expended 318,452 47,623 13,888 379,963 387,025
Net income before gains and
losses on investments (21,592) (7,522) 36,186 7,072 (500)
Gains/(Losses)
on investments		 14 (3,090) (3,492) (4,253) (10,835) 9,608
Net income before transfers (21,592) (3,090) (11,014) 31&933 (3,763) 9,108
Transfers
between
funds		 12 25,000 (25,000)
Net income after transfers 3,408 (3,090) (11,014) 6,933 (3,763) 9,108
Other recognised
gains/losses:
Actuarial
gain/(losses)
on defined
benefit pension
scheme		 1,865 1,865 12,767
Net movement
in funds		 5,273 (3,090) (11,014) 6,933 (1,898) 21,875
Reconciliation of Funds
Total Funds brought
forward		 37,500 569,619 72,708 1,432,409 2,112,236 2&090,361
Total Funds carried forward 42,773 566,529 61,694 1,439&342 2,110,338 2,112,236

2022 2021
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
Financial assets 14 171,910 26,178 1,424,688 1&622,776 1,458,612
Total fixed assets 171,910 26&178 1,424,688 1,622,776 1,459,736
Current assets
Debtors
Gift aid recoverable 4,048 175 4&223 1,469
Hollybush
Vale Trustees		 16 37,424 37,424 47,424
Trade debtors 3,567 3,567 692
7,615 37,424 175 45,214 49,585
Cash at bank and in hand 63,334 357,195 43,665 39,654 503,848 663,564
Total current assets 70,949 394,619 43&840 39,654 549,062 713,149
Liabilities: amounts falling due
within
one year
Creditors
for goods		 and services (6,050) (6,050) (5,050)
Clients account for 100Frognal (707) (707) (2,426)
Clients account
Other Creditors		 Hollybush Vale 15 (19,950) (7,617) (25&000) (7,617)
(44,950)		 (5,628)
(43,504)
(26,000) (8,324) (25,000) (59,324) (56,608)
Net current assets 44,949 394&619 35,516 14,654 489,738 656,541
Creditors
falling due after one year
pension
scheme liability		 21 (2,176) (2,176) (4,041)
Net assets 42,773 566,529 61,694 1,439,342 2,110,338 2,112,236
Funds:
Unrestricted
General		 Fund 42,773 42,773 37,500
Designated
for Future Repairs		 566&529 566,529 569,619
Restricted
Funds		 17 61,694 61,694 72,708
Endowment
Funds		 18 1,439,342 1,439,342 1,432,409
2,112,236

2022 2021
E E E E
Net cash from operating
activities		 (49,269) (43,265)
Cash flows from investing
activities
Dividends,
interest
and rent from investments		 54&553 48,986
Purchase of investments (175,000)
Net cash provided
by/(used
in) investing		 activities (120,447) (120,447) 48,986 48,986
Cash flows from financing
activities
Loan repayments
from Trustees of		 Holly Bush Vale 10,000 10,000 10,000 10,000
Net cash provided
by/(used
in) financing		 activities 10,000 10,000
Change
in cash and cash equivalents		 in the reporting period (159,716) 15,721
Cash and cash equivalents
at 1 January		 663,564 647,843
Cash and cash equivalents
at 31 December		 503,848 663,564
Reconciliation
of net income/(expenditure)		 before investment gains
Net income before investment
gains		 31 December 7,072 (500)
Adjustments
for:
Depreciation
charges		 1,124 1,124
Dividends,
interest
and rent from investments		 (54,553) (48,986)
Decrease/(increase)
in debtors		 (5,629) 2,152
(Decrease)/increase
in creditors		 2,717 2,945
Net cash provided
by/(used
in) operating		 activities (49,269) (43,265)
Analysis of cash and cash equivalents
Cash in hand 32,164 46,921
Deposit for fixed period 200,000 200,000
Deposits less than 3 months 271,684 416)643
503 848 663 564

2.3 EXPENDITURE AND LIABILITIES
Liability recognition
Liabilities
are recognized
where it is more likely than not that there is a legal or constructive
obligation
out resources
and the amount
of the obligation
can be measured
with reasonable
certainty.		 committing
the		 PCC to pay
Governance
Governance
costs are charged to 'Charitable
Activities'.
Redundancy
costs
The PCC has made no redundancy
payments
during the reporting
period.
Deferred
income
No material
item of deferred
income has been included
in the financial
statements.
Creditors
The PCC has creditors
which are measured
at settlement
amounts
less any trade discounts.
Certain interest free loans have been provided
without
a repayment
date and these are accounted
demand.		 for as being repayable on
Provisions
for liabilities
A liability
is measured
at its historical
cost and then subsequently
measured
at the best estimate
the ob(igation at the reporting
date,		 of the amount required to settle
2.d ASSETS
Tangible
fixed assets for use by the PCC
Consecrated
and beneficed
property
is excluded
from the accounts
by s.10(2)(a)and (c)of the Charities
assets are capitalized
if they can be used for more than one year, and cost at least E2,000.		 Act 2011.Other fixed
Movable church
furnishings
held by the Vicar and Churchwardens
on special trust for the PCC, and which require
a faculty
disposal,
are accounted
as inalienable
property
unless consecrated.
They are listed
in the church
inventory,
which can be
inspected.
Items acquired
prior to 2000 are not valued
in the accounts as there is insufficient
cost information
available.		 for
Financial assets
Fixed asset investments
in quoted
shares and pooled investment
funds are valued
initially at cost and subsequently
at fair value
(market
value) at the year end. The long leasehold
properties
are stated at estimated
fair values for investment
properties.
Debtors
Debtors including
trade debtors
and gift aid recoverable
are measured
on initial recognition
at settlement
amount after any trade
discounts
or amount
advanced
by the PCC. Subsequently
they are measured
at the cash or other consideration
expected to be
received.
Cash at bank
Cash at bank and in hand include
on demand
deposits
and short term fixed interest deposits.
2.5 FUNDS
Unrestricted
Funds represent
the remaining
income funds of the PCC that are available
for spending
on
the PCC.		 the general
purposes		 of
The Designated
Fund is an unrestricted
fund which represents
the amount
set aside by the PCC to
is not regarded
as part of the 'free reserves'
as disclosed
in the PCC's report. Income earned
on the
is recorded
in the General Unrestricted
Fund.		 meet future repair liabilities;
it
cash balances
held by the Fund

General Designated Restricted Endowment 2022 2021
Notes Fund Funds Funds Funds Combined Combined
Planned
giving including		 gift aid 132,169 132,169 156,030
Income tax recoverable 34,140 34,140 40,765
Collections:
ordinary		 services 23,628 23,628 13,589
Collections: special services 6,554 6,554 3,953
Donations 12,291 3,882 16,173 12,114
Voluntary
rate		 15,182 15,182 16,426
Legacies 53
Social events
Grants received:		 853 853 1,210
Friends of the Drama 16 4,000 4,000 4,000
Friends of the Music 1,440 1,440
Hampstead
Church		 Music Trust 16 53,760 53,760 50,070
Listed Places of Worship re VAT 1,340 1,340 1&941
262,281 26,958 289,239 300,151
Note 4 Other trading activities
Fees for use of Church 8,441 8,441 5,315
Parish rooms 20,559 20,559 18,118
Spring fair and other events 11290 1,290 6,849
Printing
and books		 909 909 20
Community
choir
Feed in Tariff		 16 694 6,163 6&163
694		 3,799
948
Traidcraft
stall		 5, 187 5,187 2&339
31,893 1,350 4&,243 »&88
Note 5 Income from Investments
Rent Dennington
Park		 Mansions 7,200 7,200 4,900
Rent 100 Frognal 40,595 40,595 40,680
Dividends
and Interest		 2&686 1,793 2,279 6&758 3,406
2,686 1,793 50,074 54,553 48,986

Note
7 Expenditure		 on charitable charitable activities
General Designated Restricted Endowment 2022 2021
Notes Fund Fund Funds Funds Combined Combined
Ministry:
diocesan
common		 fund 94,500 94,500 90,000
clergy expenses 10 2,528 2,528 3,735
accommodation 9I702 9,702 6,804
Children
Et Youth worker		 11 2,236 2,236 26,927
Parish Administrator 11 28)234 28,234 27,265
Pension deficit apportionment 11 1,817 1,817 3,954
Music staff 11 29,485 3,254 167 32,906 35,388
Choir
- adults
and children		 49,312 49,312 42,967
Other music costs 2,615 1,585 600 4,800 2,584
Children
and Youth		 899 899 1,179
Heat
Et light		 91839 9,839 91396
Fabric expenditure/maintenance 7,976 21,350 29,326 29,121
Parish rooms 19,811 19,811 11,093
recoverable
VAT on		 repairs 804 804 1,941
Depreciation 13 1,124 1I124 1,124
Insurance 10,924 10,924 101597
General
expenses		 10,638 10&638 12,571
!Tand communications 5,250 5,250 4,554
Sacia I events 502 502 424
Flowers 686 686 601
Grants
made		 24,850 7,305 450 32,605 30,582
Refugee sponsorship 3,870 3,870 7,260
Independent
Examination		 fee 2,250 2,250 2,250
314 172 39 174 & 2&7 354 563 362 3&7
Note 8 Grants made
Church overseas:
- missionary
societies		 6,000 6,000 5,400
- relief and development agencies 9,000 1,033 10&033 7)975
IJll missions/other Church Societies 2,850 3,884 6,734 11,295
Secular charities 6,000 2, 388 8,388 4,462
Individuals
for relief		 of poverty 450 450 450
Hampstead
Parochial		 School 1,000 1,000 1,000
22 24,850 7 305 450 32 605 30 582
Note 9 Expenditure on raising funds
Services, volunta)y rate Et events 3,383 3,383 2,708
Printing
and books		 4,280 4,280 2,509
Traidcraft
stall		 5,066 5,066 2, 621
Dennington
Park Mansions		 884 884 3,753
100 Frognal 11,787 11,787 13,117
4,280 8 449 12 671 25 400 24,708

2022 2022 2021
Salaries 57&869 84,482
Social Security 485 1,230
Pension costs 6,839 7,822
65 193 93 534
No employee
received		 employee benefits in excess of E60,000.
The PCC operates a money purchase scheme through TPT Retirement Solutions for staff.
Note 12Transfers
between		 funds
E25,000 transferred
from Parish		 Development Fund to the General Fund (2021: E25,000).
Note 13
Fixed assets		 Equipment Depreciation Net Book Value
Assets at start of year 25,679 (24,555) 1,124
Additions (1,124) (1,124)
Disposals
Assets at end of year 25 679 25 679
Note 14
Financial assets
The significance offinancial investments to the PCC's financial position isset outin the PCC's annual report.
Investments
at fair value:		 1 January Purchases Investment 31 December
2022 (Sales) Gains(Losses) 2022
- Unrestricted
'136,328 Trojan Ethical Fund shares 175,000 (3,090) 171,910
- Restricted
1,267 CBF Investment Fund shares 29,670 (3,492) 26&178
- Endowment
Freehold of 100 Frognal
and		 long lease of Flat A 981,000 981,000
Long lease of Flat 10a, Dennington Park Mansions 399,500 399&500
2,338
CBF Investment
Fund		 shares 25,083 (2,953) 22,130
1,501
Mh
G Charifund
units		 23,358 (1,300) 22,058
1 428,941 4 253 1 424,688
The Ireehold
and long		 leasehold properties are valued as investment properties by Inigo Woolf FCIB, a member
of the PCC, as at 31
December 2022.
Investments
at cost:		 1 January Purchases Sales 31 December
- Unrestricted 2022 2022
136,328Trojan Ethical Fund shares 175,000 175,000
- Restricted
1,267 CBF Investment
Fund shares		 5,909 5&909
Endowment
lease of Flat A 784,700 784,700
Long lease of Flat 10a, Dennington Park Mansions 438,500 438&500
2,338
CBF Investment		 Fund shares 20,000 20,000
1,501
M Et G Charifund
units		 18,000 18,000
1 261,200 1,261 200

Note 18Endowment funds Balances Income Expenditure (Losses)l Transfers Balances
1 January Gains on between 31 December
2022 investments Funds 2022
Frances Grossfield Memoria( Fund 11,248 501 (600) (523) 10,626
John Cooling Fund 16,940 577 (450) (603) 16,464
Frederick Eickhoff Memorial Fund 3,238 167 (167) (174) 3,064
Parish Development Fund 1,400,983 48$829 (12,671) (2,953) (25,000) 1,409,188
1,432,409 50,074 (13,888) (4,253) (25,000) 1,439,342
2021 1,421,245 47,805 (17,536) 5,895 (25,000) 1,4322409

The recovery
plan contributions
Series 2 scheme liabilities.		 The recovery
plan contributions
Series 2 scheme liabilities.		 The recovery
plan contributions
Series 2 scheme liabilities.		 are allocated to each participating
employer
in		 are allocated to each participating
employer
in		 are allocated to each participating
employer
in		 are allocated to each participating
employer
in		 are allocated to each participating
employer
in		 line with their line with their line with their estim ated
share of t		 ated
share of t		 ated
share of t		 he Series 1 and
Where the scheme
is in deficit		 and where the PCC has agreed to a deficit funding arrangement, the PCC recognises a hability for
this obhgation.
The amount
recognised		 is the net present value of the deficit reduction contributions payable under the agreement
that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding
of
the discount rate is recognised as a finance cost.
31 December 31 December
PRESENT VALUES OF PROVISION 2022 2021
f f
Present value of provision 2, 176 4,041
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Provision at start of year 4,041 16,808
Unwinding
of the		 discount factor (interest expense) 32 40
Deficit contribution
paid		 (1,817) (3,953)
Remeasurements - impact of any change in assumptions (80) (46)
Remeasurements - amendments to the contribution schedule (8,808)
(1,865) (1,865) (12,767) (12,767)
Provision at end of year 2 174 4,041
IMPACT ON STATEMENT OF FINANCIAL ACTIVITIES
Interest expense 32 40
Remeasm ements —impact of any change in assumptions (80) (46)
Remeasurements - amendments to the contribution schedule (8,808)
Contributions
paid		 in respect of future service* 5&021 3,664
Costs recognised in income and expenditure
account		 Note 7 1,817 3,953
*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 2022 2021 2020
Rate of discount 4.96% 1.18% 0.27%
Note 22 Grants and Note 22 Grants and Note 22 Grants and donations donations to charities charities 2022 2022 2022 2021 2021
Unrestricted Restricted/ Combined Combined E
Endowment
Church Overseas- Missionary Societies E E E
ALMA 2,000 1,800
Embrace the Middle East 2,000 1,800
USPG 2,000 1&800
6,000 6,000 5,400
Overseas-
Relief ft		 Development Agencies
Asra Hawariat
School		 2,000 900 1,000
Bethlehem
Arab Society for Rehabilitation		 2,000 1,000
Practical Action 2,000 63 1,000
Island Hospice 2imbabwe 2,000 1,000
Water
Aid		 975
Sightsavers 1,000
Christian
Aid		 1,000 70 2,000
9,000 1,033 10,033 7,975
UK Missions and other Church organisations
Bishop of Edmonton's Discretionary Fund 231 695
Bishop of London's Lent Appeal 2,499 919
Caris Haringey 2,000 2,156
Church of England's Children Society 494 1,385 2,862
Caris Camden/Caris Families 2,000
London Churches Refugee Fund 2,000
C4WS 63
A Rocha UK (2021: PSALM) 125 600
2,850 3,884 6,734 11,295
Hampstead
Parochial		 Schooi 1,000 1,000 1,000 1,000
Relief of Poverty (John Cooling Fund) 450 450 450 450
Secular charities
Bee Development 1,314
Marie Curie 209
Hestia 2,000
Soldiers Sailors ft Airmen's
Families		 Assn 1,074 735
Age UK (Camden) 2,000
Traidcraft
Foundation		 465
XLP 2,000 1,000
Freedom
from Torture		 2,053
6,000 2& 388 8, 388 4,462
TOTAL 24,850 7,755 32,605 30,582

Statement
of Ac		 tivities
for ye		 ar ending 31 December 2021
Income from; General Designated Restricted Endowment
Fund Fund Funds Funds Combined
E E E E E
Donations
and legacies		 274,395 25,756 300&151
Other trading
activities		 30,865 6,523 37,388
Investments 383 798 47,805 48,986
305,643 33,077 47,805 386&525
Expenditure
on:
Charitable
activities		 322,087 7,416 32,148 666 362,317
Raising
funds		 2,509 5,329 16&870 24,708
Total resources expended 324&596 7,416 37,477 17,536 387&025
Net income before gains on
investments (18,953) (7,416) (4,400) 30,269 (500)
Net Gain on investments 3&713 5&895 9,608
Net income before transfers (18,953) (7,416) (687) 36,164 9,108
Transfers
between
funds		 25,000 (25,000)
Net income after transfers 6,047 (7,416) (687) 11,164 9,108
Other recognised
gains/losses:
Actuarial
gain on defined benefit
pension
scheme		 12,767 12,767
Net movement
in funds		 18,814 (7,416) (687) 11,164 21,875
Reconciliation
of Funds
Total Funds brought
forward		 18,686 577,035 73,395 1,421,245 2,090,361
Total Funds carried forward 37,500 569&619 72&708 1,432,409 2,112,236