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2022-12-31-accounts

Charity number: 1133781

CHRIST CHURCH HAMPSTEAD

INDEPENDENTLY EXAMINED PCC REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

CHRIST CHURCH HAMPSTEAD

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 19

CHRIST CHURCH HAMPSTEAD

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

Charity registered number

1133781

Principal office

Christ Church Hampstead 10 Cannon Place London NW3 1EJ

Accountants and examiner

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

CHRIST CHURCH HAMPSTEAD

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

AIMS AND PURPOSES

The Parochial Church Council of Christ Church (the “PCC”) has the responsibility of cooperating with the incumbent, Canon Paul Conrad, in promoting in the ecclesiastical parish the mission of the church through pastoral, evangelistic, social and ecumenical activities.

OBJECTIVES

The PCC works to encourage as many people as possible to share in the worship and life of Christ Church. We try to enable people to live out their faith as part of our parish community through:

Worship, prayer and learning about the Christian faith

Provision of pastoral care for those living within the parish and those involved with our Church School

Missionary and outreach work

To facilitate this work it is important to maintain the fabric of the church building and its facilities for all who use it.

In producing their assessment of the benefit to the public provided by the church, the PCC confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE WORSHIP AND PRAYER

Worship has priority in the life of Christ Church. A high standard in liturgy and music is expected and achieved.

People of all ages participate in singing, reading, leading intercessions and serving. There is a well organised group of Sidesmen and Sideswomen who welcome visitors and maintain security during services.

At the request of the Mayor of London and with the encouragement of the Bishop of London the church was closed for Public Worship for nearly two months at the beginning of the year. When the building re-opened a careful and cautious approach was taken to gatherings. Sunday School did not function and there were no social events until the autumn. A particular sadness was that the School Choir was able to perform at only one church service.

CHILDREN AND YOUNG PEOPLE

We aim to put much work and effort into the care of children in the parish. There are close links with Christ Church School. Several governors and the Head Teacher attend church regularly. The Vicar takes two assemblies every week and is involved in the teaching of RE. The Vicar is an ex- officio governor and the PCC nominates three governors to the Governing Body.

During the year the Church School has faced many challenges. Strong and inspired leadership as well as a dedicated body of staff have ensured that a high standard of teaching and learning has been delivered to pupils.

MEMBERSHIP

We aim to welcome all who for whatever reason come to Christ Church. Our church community is wide ranging in age; it is diverse and inclusive, with people from many religious backgrounds (or none). In 2022 there were 126 people registered on the Electoral Roll.

Attendance at Sunday Worship has gradually increased. By the end of the year it was approaching pre-pandemic levels.

Page 2

CHRIST CHURCH HAMPSTEAD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

DEANERY SYNOD

Representatives from Christ Church attended such meetings of the Deanery Synod as were held. One Church Warden is Secretary of the Deanery Synod. Another member of the PCC is also a member of the Diocesan Synod and the Diocesan Advisory Committee for the Care of Churches.

THE CHURCH BUILDING

The Church building is in excellent order. The Church Wardens have been careful to ensure that routine maintenance has been carried out.

The building is usually used extensively not only for worship but for a wide range of activities by Christ Church School, a nursery school, a Japanese cultural group, for concerts and rehearsals.

PASTORAL CARE

Pastoral care is chiefly provided by the clergy.

MISSION AND EVANGELISM

Christ Church has a link with the Anglican Diocese of Wiawso in Ghana and through prayer and financial assistance seeks to support the work of that Diocese.

We have perforce this year had to rely on the website (http://christchurchhampstead.co.uk/) to publicise our work and to keep in touch with parishioners

ECUMENICAL RELATIONSHIPS

Christ Church is a member of Churches Together in Hampstead. There is a close and longstanding relationship with Heath Street Baptist Church with regular joint services and shared preaching.

THE FUTURE

Church attendance is returning to pre-pandemic levels. Christ Church has a loyal and enthusiastic congregation. It has a talented and dedicated leadership team. The finances are on a firm footing. The church fabric is in exceedingly good order and with the replacement of the flooring this continues to improve.

For these reasons there is a humble confidence that, under God’s guidance, the Parish of Christ Church, Hampstead, will continue to prosper.

FINANCIAL REVIEW

Total income in unrestricted funds was £240,416 (2021 - £181,347) of which £36,293 (2021 - £24,152) was received from donations (including HMRC receipts). In addition legacy income of £100,000 was received (2021 - 33,033). Restricted donations of £30,200 (2021 - £15,450) were received for the flooring project. In 2021 a Listed place of worship grant was received to cover the VAT element on the expenditure incurred on the stained glass window project. The car park continued to be let, which provided a gross income of £67,496 (2021 - £77,883).

During 2022, £36,627 (2021 - £37,297) was received from charitable activities, including the rent from the nursery school. This decrease compared to 2021 is explained by a decrease in Church hall lettings for the nursery school (£36,047 in 2022 compared to £36,862 in 2021).

£184,728 (2021 - £146,780) was spent from unrestricted funds to provide the Christian ministry from Christ Church, including the contribution to the Diocese of London of £85,200 (2021 - £80,000). The Diocese provides training, stipends and housing for the clergy. Another key element of unrestricted expendure this year was the total paid for light and heat costs which increased to £22,623 (2021 - £7,532) reflecting the significant increase in

Page 3

CHRIST CHURCH HAMPSTEAD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

prices across the energy sector.

Net movement in funds on unrestricted funds was an increase of £11,287 (2021 – £33,553) and on restricted funds a decrease of £10,791 (2021 - decrease of £7,050). During the year, the total fund balances increased by £496 to £38,796 (2021 - increase by £26,503 to £38,300) of which £46,637 (2021 - £35,350) is unrestricted, with £40,439 being allocated to a designated fabric fund. The restricted fund deficit of £7,841 (2021 - £2,950 positive balance) will be replenished when a grant claim for the VAT incurred on the flooring project is submitted in 2023.

The PCC has approved a budget for 2023 that reflects the impact of higher energy costs but also higher expected income from the nursery school following a change in tenants and refurbishment of the side hall.

RESERVES POLICY

It is PCC policy to move towards maintaining a balance on free reserves (net unrestricted current assets) which equates to at least three months' unrestricted payments. This is equivalent to £46,182 for the reported year. It will be held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves at the year-end was £46,637 which is in line with the target, and an improvement on the previous year’s balance of £35,350.

RISK MANAGEMENT

The PCC develops the strategic direction of the Church and considers how to properly address the exposure to risk and ensure proper management.

On at least an annual basis the PCC has considered and discussed key risks facing the Church, the controls in place, and any mitigation and actions required. The PCC continues to review and confirm policy regarding matters such as charity law, safeguarding, children activities, equality, social media, finance and data protection. The standard Safeguarding Policy suggested for parishes by the Diocese was adopted.

VOLUNTEERS

We would like to thank all the volunteers who work so hard to make our church the community it is. In particular we want to mention our Church Wardens who have worked so tirelessly on our behalf.

STRUCTURE, GOVERNMENT AND MANAGEMENT

The PCC met five times during the year and it concerned itself with the maintenance and management of the Church building, with finance, with work with young people and with church life generally.

Approved by order of the members of the PCC and signed on their behalf by:

Canon Paul Conrad (PCC Chair) (Chair of Trustees) Date: 26 March 2023

Page 4

CHRIST CHURCH HAMPSTEAD

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent examiner's report to the Trustees of Christ Church Hampstead ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 27 March 2023 Richard Hill FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 5

CHRIST CHURCH HAMPSTEAD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
10
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
30,200
-
-
30,200
85,392
85,392
(55,192)
44,401
(10,791)
2,950
(10,791)
(7,841)		 Unrestricted
funds
2022
£
136,293
36,627
67,496
240,416
184,728
184,728
55,688
(44,401)
11,287
35,350
11,287
46,637		 Total
funds
2022
£
166,493
36,627
67,496
270,616
270,120
270,120
496
-
496
38,300
496
38,796		 Total
funds
2021
£
86,141
37,297
77,883
201,321
174,818
174,818
26,503
-
26,503
11,797
26,503
38,300

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 19 form part of these financial statements.

Page 6

CHRIST CHURCH HAMPSTEAD

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total assets less current liabilities
Net assets
Total net assets
Charity funds
Restricted funds
10
Unrestricted funds
10
Total funds		 13,345
40,875
54,220
(15,424)		 2022
£
-
38,796
38,796
38,796
38,796
(7,841)
46,637
38,796		 13,760
42,947
56,707
(18,407)		 2021
£
-
38,300
38,300
38,300
38,300
2,950
35,350
38,300

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ ................................................ Canon Paul Conrad Mr Rodger Heeley Chair of Trustees Treasurer Date: 26 March 2023

The notes on pages 8 to 19 form part of these financial statements.

Page 7

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Christ Church Hampstead meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The church invoices in advance for a year's worth of car parking income. Therefore at 31 December each year a significant proportion of the church's bank balance as shown in the balance sheet represents money received to allow the respective clients the use of the car park for the period up to June in the following year. In accordance, with generally accepted accounting practice, and the Charities SORP (FRS 102), only the proportion of income attributable to 31 December in the year under review is taken into the SOFA, with the balance being carried within deferred income in creditors at the balance sheet date, to then be taken into income in the following year.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Support costs are those costs incurred directly in support of expenditure on the objects of the church. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements

Page 8

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.4 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 9

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Income from donations and legacies

Donations and collections
Legacies
Gift aid recoverable
Donations and collections
Legacies
Listed place of worship grant
Gift aid recoverable
Income from charitable activities
Church hall lettings - Nursery school
Other Church hall lettings
Fee income		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
30,200
22,944
-
100,000
-
13,349
30,200
136,293
Restricted
funds
2021
Unrestricted
funds
2021
£
£
15,450
24,152
-
33,033
4,524
-
-
8,982
19,974
66,167
Unrestricted
funds
2022
£
36,047
100
480
36,627		 Total
funds
2022
£
53,144
100,000
13,349
166,493
Total
funds
2021
£
39,602
33,033
4,524
8,982
86,141
Total
funds
2022
£
36,047
100
480
36,627

3. Income from charitable activities

Page 10

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Income from charitable activities (continued)

Church hall lettings - Nursery school
Fee income		 Unrestricted
funds
2021
£
36,862
435
37,297		 Total
funds
2021
£
36,862
435
37,297

4. Commercial rental income

Unrestricted
funds
2022
£
Car parking
67,496
Unrestricted
funds
2021
£
Car parking
77,883		 Total
funds
2022
£
67,496
Total
funds
2021
£
77,883

Page 11

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. Analysis of expenditure on charitable activities

Summary by fund type

Church activities
Fabric project expenditure
Chuch activities
Fabric project expenditure		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
184,728
85,392
-
85,392
184,728
Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
146,780
28,038
-
28,038
146,780		 Total
2022
£
184,728
85,392
270,120
Total
2021
£
146,780
28,038
174,818

6. Analysis of expenditure by activities

Regular church activities
Fabric project expenditure		 Activities
undertaken
directly
2022
£
170,181
85,392
255,573		 Support
costs
2022
£
14,547
-
14,547		 Total
funds
2022
£
184,728
85,392
270,120

Page 12

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of expenditure by activities (continued)

Regular church activites
Fabric project expenditure		 Activities
undertaken
directly
2021
£
134,222
28,038
162,260		 Support
costs
2021
£
12,558
-
12,558		 Total
funds
2021
£
146,780
28,038
174,818

Analysis of direct costs

Clerical expenses of office
Repairs and maintenance
Visiting preachers and clerical honoraria
Insurance
Light and heat
London Diocesan Fund contributions
Cleaning
Music
Catering and events
Altar and sanctuary
Advertising
Churchyard and maintenance
Vicarage expenses
Charity giving - Wiawso Ghana
Parochial Fees remitted to LDF		 Regular
church
activities
2022
£
1,475
13,383
1,000
5,504
22,623
85,200
3,023
21,142
883
4,461
1,043
4,799
427
5,000
218
170,181		 Fabric
project
expenditure
2022
£
-
85,392
-
-
-
-
-
-
-
-
-
-
-
-
-
85,392		 Total
funds
2022
£
1,475
98,775
1,000
5,504
22,623
85,200
3,023
21,142
883
4,461
1,043
4,799
427
5,000
218
255,573

Page 13

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Clerical expenses of office
Repairs and maintenance
Visiting preachers and clerical honoraria
Insurance
Light and heat
London Diocesan Fund contributions
Cleaning
Music
Catering and events
Altar and sanctuary
Sundry expenses
Advertising
Churchyard and maintenance
Vicarage expenses
Charity giving - Wiawso Ghana
Church security
Car park expenses		 Regular
church
activities
2021
£
504
5,904
1,200
5,402
7,532
80,000
3,172
15,094
635
1,853
211
550
4,756
1,292
5,137
44
936
134,222		 Fabric
project
expenditure
2021
£
-
28,038
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28,038		 Total
funds
2021
£
504
33,942
1,200
5,402
7,532
80,000
3,172
15,094
635
1,853
211
550
4,756
1,292
5,137
44
936
162,260

Page 14

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Consulting
Legal fees
Telephone, broadband and software costs
Postage, freight and courier
Printing and stationery
Bank fees
Accountancy and examination fees		 Regular
church
activities
2022
£
4,356
3,421
1,424
186
1,604
470
3,086
14,547		 Total
funds
2022
£
4,356
3,421
1,424
186
1,604
470
3,086
14,547
Consulting
Telephone, broadband and software costs
Postage, freight and courier
Printing and stationery
Bank fees
Accountancy and examination fees		 Regular
church
activities
2021
£
4,920
2,988
136
1,321
403
2,790
12,558		 Total
funds
2021
£
4,920
2,988
136
1,321
403
2,790
12,558

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, expenses totalling £ 2,027 were reimbursed or paid directly to 1 Trustee (2021 - £1,017 to 1 Trustee) .

Page 15

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Debtors

Due within one year
Trade debtors
Other debtors		 2022
£
-
13,345
13,345		 2021
£
4,785
8,975
13,760

9. Creditors: Amounts falling due within one year

VAT
Other creditors
Accruals and deferred income
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous periods		 2022
£
773
-
14,651
15,424
2022
£
7,790
11,711
(7,790)
11,711		 2021
£
666
319
17,422
18,407
2021
£
9,042
7,790
(9,042)
7,790

Page 16

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January Transfers December
2022 Income Expenditure in/out 2022
£ £ £ £ £
Unrestricted funds
Designated funds
Designated fabric fund - - - 40,439 40,439
General funds
General Funds - all funds 35,350 240,416 (184,728) (84,840) 6,198
Total Unrestricted funds 35,350 240,416 (184,728) (44,401) 46,637
Restricted funds
Flooring project 2,950 30,200 (85,392) 44,401 (7,841)
Total of funds 38,300 270,616 (270,120) - 38,796
Statement of funds - prior year
Balance at
Balance at 31
1 January Transfers December
2021 Income Expenditure in/out 2021
£ £ £ £ £
Unrestricted funds
General Funds - all funds 1,797 181,347 (146,780) (1,014) 35,350
Restricted funds
Stained glass windows fund 10,000 17,024 (28,038) 1,014 -
Flooring project - 2,950 - - 2,950
10,000 19,974 (28,038) 1,014 2,950

Page 17

CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Statement of funds (continued)

Total of funds 11,797 201,321 (174,818) - 38,300

11. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
January
2022
£
-
35,350
2,950
38,300		 Income
£
-
240,416
30,200
270,616		 Expenditure
£
-
(184,728)
(85,392)
(270,120)		 Transfers
in/out
£
40,439
(84,840)
44,401
-		 Balance at
31
December
2022
£
40,439
6,198
(7,841)
38,796

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1 January
2021
£
1,797
10,000
11,797		 Income
£
181,347
19,974
201,321		 Expenditure
£
(146,780)
(28,038)
(174,818)		 Transfers
in/out
£
(1,014)
1,014
-		 Balance at
31
December
2021
£
35,350
2,950
38,300

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CHRIST CHURCH HAMPSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. Analysis of net assets between funds

Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
(7,841)
62,061
-
(15,424)
(7,841)
46,637		 Total
funds
2022
£
54,220
(15,424)
38,796

Analysis of net assets between funds - prior year

Current assets
Creditors due within one year
Total		 Restricted
funds
2021
£
2,950
-
2,950		 Unrestricted
funds
2021
£
53,757
(18,407)
35,350		 Total
funds
2021
£
56,707
(18,407)
38,300

13. Related party transactions

The PCC members are considered the key management personnel of the church. No remuneration was paid directly to key management personnel, although the church contributes to the diocesan fund and the incumbent, who has overall responsibility for promoting the whole mission of the church, is remunerated directly by the Diocese.

Aggregate unrestricted donations from the PCC totalled £6,210 (2021 - 10,070).

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