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← St. John's Downshire Hill

2024-08-31-accounts

Company registration number: 04821792 Charity registration number: 1138488

ST JOHN'S DOWNSHIRE HILL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

ST JOHN'S DOWNSHIRE HILL

CONTENTS

Charity Information 1 to 2
Report of the Trustees 3 to 9
Independent Auditors' Report 10 to 13
Statement of Financial Activities (Incorporating an Income and Expenditure account) 14
Balance Sheet 15 to 16
Statement of Cash Flows 17
Notes to the Accounts 18 to 30

ST JOHN'S DOWNSHIRE HILL

CHARITY INFORMATION

St John’s Downshire Hill is a charitable company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association.

Company Registration Number 04821792 Charity Registration Number 1138488 Trustees D Barlow G Burns A Naidu C Onaka Secretary E England Senior Minister Rev T Watts Registered Office St John's Church Downshire Hill Hampstead NW3 1NU Bankers Barclays Bank plc 28 Hampstead High Street London NW3 1QB Independent Auditor Shaw Gibbs (Audit) Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

Page 1

ST JOHN'S DOWNSHIRE HILL

CHARITY INFORMATION

Further information

For further information about the Church and its activities and to find out how you can get involved, please look at our website, www.sjdh.org. Alternatively, you would be welcome at any of our services (10.30 a.m. and 6 p.m. every Sunday, live stream details can be found here: https://sjdh.org/livestream/). If you would like to contact us for any reason, please phone the church office, on 020 7099 9360.

St John’s Church Downshire Hill Hampstead London NW3 1NU

Telephone: (020) 7099 9360 Email: office@sjdh.org

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2024 and confirm that they comply with the requirements of the Companies’ Act 2006, the Charities’ Act 2011 and the 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 (Charities SORP (FRS 102)).

Purpose and Mission of St John's Downshire Hill

St John’s Downshire Hill is a company limited by guarantee and was registered with the Charities Commission as a charity with effect from 20 October 2010. It is the legal entity which holds all the assets and liabilities of St John’s Church, Downshire Hill, Hampstead, and which accounts for all of its income and expenditure. The church itself is a Proprietary Chapel in the Church of England, part of the Diocese of London, and therefore is accountable for its own assets and liabilities.

The Memorandum of Association of St John’s Downshire Hill (“St John’s”) states that the church’s objects are the advancement of the Christian faith for the public benefit in a way that is consistent with the fundamental truths revealed in Holy Scripture, as faithfully summarised and reflected in the Thirty-Nine Articles of Religion, The Book of Common Prayer and The Ordinal of the Church of England, as well as the Reform Covenant of 1994 and the Basis of Faith of the Fellowship of Independent Evangelical Churches (FIEC).

The mission and priority of St. John’s is “living for Jesus, sharing his good news” by being transformed by his grace and equipped by his word to serve in his world.

This happens as:

We also share the good news about Jesus through:

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Key Activities

The church’s key activities are therefore:

At the year end, St. John’s had seven salaried staff members. Apart from this, the majority of St. John’s ministry is carried out by volunteers, whether working within the church in teaching, youth work, evangelism etc., or involved in caring for the missionaries we support elsewhere. The trustees would like to thank all those who volunteer their services to help run and administer St. John’s. Many people give a substantial amount of time to ensure the church runs efficiently.

Public Benefit

St. John’s advances the Christian faith for the public benefit by promulgating the good news of the Christian message within Hampstead and also in support of individuals, churches, and organisations elsewhere in the UK and around the world with that same aim. We believe that it is to the eternal benefit of all people to give them the opportunity to hear and respond to the invitation of salvation from our loving God.

St. John’s also serves the public in many other ways:

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance

Review of Activities

Work at St. John's

Ministry and mission at SJDH continued to flourish in the year ended 31 August 2024. The staff team remained unchanged during this time, consisting of the Senior Minister, Associate Minister for Families, Associate Minister for Women, Assistant Minister, Church Administrator (part time), Finance Administrator (part time) and Caretaker (part time).

A particular highlight of the year was the celebration of the 200th anniversary of the founding of St John’s Downshire Hill. As well as an art exhibition earlier in 2023, there was a celebratory evangelistic concert featuring music from the last 200 years alongside the story of the history of the building and the commitment of its founders to the preaching of the good news about Jesus. There was also an anniversary service close to the 200th anniversary of the first service in October 1823. The Bishop of Ebbsfleet preached and it was followed by a celebratory lunch for 200 people.

Children’s and youth work continued to thrive with a regular pattern of Sunday morning groups for 0-14s, Friday evening clubs for primary school children and 11-18s, and a monthly Saturday evening Bible study for older teens. Other events through the year included outreach and discipleship events for women and for men, a weekly parent/carers and toddlers group “Mini Mischief”, a continuing English language class ministry with internationals, a weekend away attended by over 100 people at which the speaker was one of our mission partners Mark Smith and an Easter holiday club for primary school children.

During the year ending August 2024, we also formally registered our desire for Alternative Spiritual Oversight facilitated by the Church of England Evangelical Council, in response to the support of the Bishop of London and the new Bishop of Edmonton for the introduction of the Prayers of Love and Faith. In this regard we were offered the continued episcopal ministry of the Bishop of Ebbsfleet, whose ministry we were already receiving having passed a resolution under the House of Bishops’ Declaration on the Ministry of Bishops and Priests in order to reflect the church’s convictions on the distinctive ministry of men and women. The Bishop of London remains the Ordinary for the purposes of licences held by the Senior Minister and Associate Minister for Women, and St John’s Downshire Hill continues to look to the diocese for guidance in safeguarding.

Finally, with the full support of the Bishop and the Trustees of SJDH, the Senior Minister took a period of sabbatical study leave from June to August 2024, for the purpose of rest and study combined with some ministry at Johannesburg Bible College alongside one of our mission partners.

Support for Gospel Work in the UK and Overseas

St John’s has continued in prayer and financial support for its ten mission partners. These include missionaries in Italy, Senegal, Switzerland, Manchester (UK), Johannesburg and London (UK), as well as the organisations London City Mission, Operation Mobilisation, Oak Hill Theological College and Open Doors.

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Performance

Spiritual growth can be both numerical and in terms of individual maturity. The latter is hard to measure although it is encouraging to see so many church members giving sacrificially of their time and money to serve the church and wider world.

Our average Sunday attendance remained stable at up to 130 adults in the morning, and between 30 and 40 in the evening. Our Japanese monthly service has continued with an attendance of approximately 10 adults and 3 children.

The Sunday children’s clubs continued with around 65 children aged 0-14 regularly involved. We regularly saw 40 under 18s attending our Friday and Saturday evening youth club activities, with a total of around 65 attending at least once through the year, many much more frequently.

During the year ending 31 August 2024, there were no baptisms or confirmations, but several people were prepared for baptisms and confirmations taking place later in 2024. During the year we also ran Hope Explored and Christianity Explored which were attended by around 8 people enquiring into Christian faith for the first time.

Financial review

Principal funding sources

The principal source of funding continues to be personal giving by the congregation, alongside the tax that is recoverable on this giving through the HMRC Gift Aid arrangement. Total donations received during the year amounted to £503,868 (2023: £464,647). Additionally, a small and variable income is derived from letting out the church building, rent from other residential properties not currently required as housing for relevant staff but we do not aim to be reliant on any of this uncertain form of income. During the year the charitable company received rent from lettings amounting to £33,807 (2023: £28,137).

Reserves policy

Excluding interest-free loans made for the purchase of 88 Upper Park Road and 19 Parliament Court, totalling £194,000 (2023: £224,000), which are repayable on 24 months’ prior written notice, and provisions of £Nil (2023: £Nil), the accounts show a net current asset position of £179,998 (2023: £130,974).

Our aim is to repay the above loans with any surplus generated.

The trustees recognise that until this reduction in debt has taken place St John’s will carry no reserves, beyond what is deemed reasonably prudent for the ongoing daily costs of the ministry of St John’s.

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Risk management

The trustees have sought to mitigate the major risks the charity faces. In particular:

a) on the advice of the finance task team, the trustees believe that they have adequate controls to ensure that proper records are maintained in respect of donations received under Gift Aid to reduce the risk of amounts being reclaimed by HMRC, and that records are maintained of all legacies notified to the charity to reduce the risk that all legacy income to which the charity is entitled may not actually be received or properly recorded in the accounting records. This includes procedures to deal with any chattels or property received.

b) there are controls in place to mitigate major financial risks. The finance task team prepares a budget, meets regularly to discuss significant transactions, review cash balances and reports its findings to the trustees on a regular basis.

c) the Church Safeguarding Officer and Children’s Champion implement St John’s safeguarding policy, which is reviewed annually by the trustees and is available on our website (www.sjdh.org). One of the staff members works in consultation with the Church Safeguarding Officer to train and supervise all those working with children. Another staff member oversees the DBS certification process.

d) the risks associated with the preparation and provision of meals from the church kitchen, and the training of all those involved in the preparation of food, has been overseen by members of the staff team who were also responsible for overseeing the Sunday and Wednesday evening catering. Food safety and hygiene guidelines are clearly posted in the kitchen and new volunteers in the kitchen are supervised initially. The trustees are satisfied that all personnel operating in the kitchen are appropriately trained and qualified in respect of food hygiene.

e) Health and safety needs are monitored to ensure that St John’s remains as safe a place as it can reasonably be for workers and visitors alike.

Trustees and the Trust

St John’s Downshire Hill has no share capital, being a company limited by guarantee. The company was registered as a charity by the Charity Commission with effect from 20 October 2010.

The trustees who are trustees for the purpose of charity law and directors for the purpose of company law, who served during the financial year ended 31 August 2024 and up until the date of signing these accounts were:

D Barlow

G Burns

A Naidu

C Onaka

D Scribner (resigned 18 September 2023)

The trustees meet on a regular basis to make decisions and monitor the work of the charity. Trustees may be appointed at a general meeting by ordinary resolution.

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Statement of Trustees’ Responsibilities

The trustees (who are also the directors of St John's Downshire Hill for the purposes of company law) are responsible for preparing the Trustees' Annual Report financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including its income and expenditure, for the financial period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Non-adjusting events after the financial period

In December 2024, the leasehold property known as 20 South End Close, London NW3 2RB was sold for £555,000.

Statement of disclosure to the auditor

Each of the trustees has confirmed that so far as they are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006), of which the charitable company’s auditors are unaware, and that they have taken all the required steps as trustees to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

Reappointment of auditor

The auditors Shaw Gibbs (Audit) Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.

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ST JOHN'S DOWNSHIRE HILL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024

Small companies provision statement

The trustees have taken advantage of the small companies’ exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the Report of the trustees on the grounds that the charity is entitled to prepare its accounts for the year in accordance with the small companies regime.

BY ORDER OF THE BOARD

......................................... G Burns Trustee 23 May 2025

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ST JOHN'S DOWNSHIRE HILL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST JOHN'S DOWNSHIRE HILL

Opinion

We have audited the financial statements of St John's Downshire Hill (the 'charity') for the year ended 31 August 2024, which comprise the Statement of Financial Activities (Incorporating an Income and Expenditure account) , Balance Sheet, Statement of Cash Flows, and Notes to the Accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is the applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102- The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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ST JOHN'S DOWNSHIRE HILL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST JOHN'S DOWNSHIRE HILL

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities (set out on page 8), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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ST JOHN'S DOWNSHIRE HILL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST JOHN'S DOWNSHIRE HILL

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We considered the nature of the Charitable company’s control environment, and reviewed the Charitable company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also identified the laws and regulations applicable to the charitable company through discussions with the Trustees and other management, and from our cumulative audit, knowledge and experience of the charitable company.

We obtained an understanding of the legal and regulatory framework that the Charitable company operates in, and identified the key laws and regulations that:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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ST JOHN'S DOWNSHIRE HILL

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST JOHN'S DOWNSHIRE HILL

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulator and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Records) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Shaw Gibbs (Audit) Limited Statutory Auditor Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

23 May 2025

Shaw Gibbs (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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ST JOHN'S DOWNSHIRE HILL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 (Incorporating Income and Expenditure Account)

Total Total
Unrestricted Restricted 2024 2023
Note £ £ £ £
Income from:
Donations 2 503,868 - 503,868 464,647
Other trading activities 3 52,252 - 52,252 45,802
Investment income 4 1,995 - 1,995 223
Total Incoming Resources 558,115 - 558,115 510,672
Resources Expended
Activities in furtherance of
the Charity’s objectives 5 455,086 - 455,086 426,807
Governance costs 6 30,679 - 30,679 34,980
Total Resources
Expended 485,765 - 485,765 461,787
Unrealised losses on
investment 12 238 - 238 (738)
Net incoming/ (outgoing)
resources 72,588 - 72,588 48,147
Net movement in funds 72,588 - 72,588 48,147
Opening Reserves 5,905,326 701,667 6,606,993 6,558,846
Closing Reserves 17 5,977,914 701,667 6,679,581 6,606,993

Incoming resources and resources expanded in 2023 were fully from unrestricted funds.

All of the charity's activities derive from continuing operations during the above two periods. All gains and losses in the year are included above.

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ST JOHN'S DOWNSHIRE HILL

(REGISTRATION NUMBER: 04821792) BALANCE SHEET AS AT 31 AUGUST 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 11 6,690,959 6,697,633
Investments 12 2,624 2,386
6,693,583 6,700,019
Current assets
Debtors 13 188,981 78,575
Cash at bank 87,850 92,646
276,831 171,221
Creditors: amounts falling due within one year 14 (96,833) (40,247)
Net current assets 179,998 130,974
Total assets less current liabilities 6,873,581 6,830,993
Creditors: amounts falling due after more than one year 15 (194,000) (224,000)
Net assets 6,679,581 6,606,993
Funds
Unrestricted income funds
General reserve 5,795,910 5,723,560
Other reserves 182,004 181,766
5,977,914 5,905,326
Restricted income funds 701,667 701,667
Total funds 17 6,679,581 6,606,993

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ST JOHN'S DOWNSHIRE HILL

(REGISTRATION NUMBER: 04821792) BALANCE SHEET AS AT 31 AUGUST 2024

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and Charities SORP (FRS 102) and constitute the annual accounts required by the Companies Act 2006 and are for the circulation to members of the charitable company.

The trustees are satisfied that the charitable company was entitled to exemption from audit for the year ending 31 August 2024 under section 477 of the Companies Act 2006 and that members have not requested an audit in accordance with section 476 of the same Act. However, an audit is required in accordance with section 144 of the Charities Act 2011.

The trustees, who are regarded as directors for the purpose of the Companies Act 2006, acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements on pages 14 to 30 were approved by the trustees and authorised for issue on 23 May 2025 and signed on their behalf by:

......................................... Gareth Burne G Burns Trustee

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ST JOHN'S DOWNSHIRE HILL

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Note £ £
Cash flows from operating activities
Net cash income 72,588 48,147
Adjustments to cash flows from non-cash items
Depreciation 6,674 6,674
Investment income 4 (1,995) (223)
Revaluation of investments (238) 738
77,029 55,336
Working capital adjustments
Increase in debtors 13 (110,406) (51,040)
Increase in creditors 14 56,586 21,898
Decrease in provisions - (4,000)
Net cash flows from operating activities 23,209 22,194
Cash flows from investing activities
Interest receivable and similar income 4 1,995 223
Purchase of tangible fixed assets 11 - (2,328)
Net cash flows from investing activities 1,995 (2,105)
Cash flows from financing activities
Repayment of loans and borrowings 14 (30,000) (100,000)
Net decrease in cash and cash equivalents (4,796) (79,911)
Cash and cash equivalents at 1 September 92,646 172,557
Cash and cash equivalents at 31 August 87,850 92,646

All of the cash flows are derived from continuing operations during the above two periods.

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ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

The principal accounting policies applied, judgements and key sources of estimation uncertainty in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

General information

St John’s Downshire Hill is a charitable company limited by guarantee, incorporated in England and Wales under the Companies Act and registered as a charity in England and Wales. The company’s registered office address is shown on page 1. The nature of the charitable company’s operations and its principal activities are set out in the Trustees’ Report on pages 3-9.

Going concern

The financial statements are drawn up on the going concern basis which assumes St John’s Downshire Hill will continue in operational existence for the foreseeable future, being a period of 12 months from the date of approval of these financial statements. The trustees have given due consideration to the working capital and cash flow requirements of St John’s Downshire Hill. The trustees consider St John’s Downshire Hill’s current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for the foreseeable future.

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Church Accounting Regulations 2006 and with the 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) (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

Judgement and key sources of estimation uncertainty

The preparation of financial statements in conformity with Charities SORP (FRS 102) requires the trustees to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

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ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Provisions

Provisions are recognised when the charity has an obligation at the reporting date as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Incoming resources

Income is recognised when the charitable company has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Incoming resources from donations represent voluntary income, which are credited in the year in which they are received. Income tax recoverable on donations received under Gift Aid, income from other activities and investment income are accounted for on an accruals basis.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Resources Expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of obligation can be measured reliably. Expenditure is included on an accruals basis inclusive of VAT, except for expenditure eligible under the Listed Places of Worship Grants Scheme, when the expenditure is included exclusive of VAT.

Expenditure is classified under the following activity headings:

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ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Fixed assets

Tangible fixed assets are stated at historical cost less depreciation where appropriate. Freehold and leasehold land is not depreciated, in accordance with Charities SORP (FRS 102). The charitable company’s freehold and leasehold properties were last revalued on 31 August 2008 by the trustees. At the date of transition to Charities SORP (FRS 102), the trustees elected to use the previous revaluation of the charitable company’s freehold land and buildings and leasehold properties as deemed cost at the respective revaluation date.

Depreciation is charged by annual instalments estimated to write off their cost less any residual value over the expected useful lives which equate to the following rates:

Asset class Depreciation method and rate Organ & Piano straight line basis over 25 years Furniture & Fittings straight line basis over 5 years Freehold and Leasehold Land and Buildings None

Fixed assets are subject to review for impairment when there is an indication of a reduction in their carrying value. Any impairment is recognised in the year in which it occurs in the corresponding Statement of Financial Activities category.

Investments

Investments are included in the balance sheet at their market value at the year end. Unrealised gains and losses arising from changing market value are included in other reserves.

Fund structure

The funds held by the charitable company fall into the following categories:

Unrestricted income funds - funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted income funds - funds that can only be used for a particular purpose within the objects of the charitable company. Restrictions arise when specified by a donor or when funds are raised for a particular restricted purpose.

Other reserves - cumulative effect of revaluations of freehold land and buildings and other investments up to the date of transition. The funds are not distributable.

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the debt.

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ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Cash at bank and in hand

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Concessionary loans

The charitable company qualifies as a public benefit entity under FRS 102 and has chosen to account for concessionary loans received using the accounting treatment set out in paragraphs PBE34.90 to PBE34.97 of FRS102. In consequence, concessionary loans received are initially measured at the amount received and recognised as a liability in the balance sheet. In subsequent years, the carrying amount of concessionary loans received are adjusted to reflect any accrued interest payable. Concessionary loans are presented separately between amounts repayable within one year and amounts repayable after more than one year.

Taxation

The charitable company is a charity within the definition of section 467 Corporation Tax Act 2010 and is therefore able to take advantage of the exemptions given by sections 485 and 486 of that Act. Accordingly, there is no Corporation Tax charge in these accounts.

Pensions

The charitable company contributes into a defined contribution pension scheme for staff who are not members of the Church of England Funded Pension Scheme for stipendiary clergy. For defined contribution schemes the amount charged to the Statement of Financial Activities represents the contributions payable in the year.

The charitable company participates in the Church of England Funded Pension Scheme for stipendiary clergy for staff who are members of this scheme. This is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible for the charitable company to identify its share of the underlying assets and liabilities in the scheme on a consistent and reasonable basis. In accordance with Charities SORP (FRS 102), the charitable company accounts for its contribution to the scheme as if it were a defined contribution scheme. Any contributions payable relating to funding of a scheme deficit are included as a liability on the Balance Sheet and charged to the Statement of Financial Activities.

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.

Page 21

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

2 Income from donations and legacies

Total Total
Unrestricted Restricted 2024 2023
£ £ £ £
Donations and legacies;
Donations from individuals 433,228 - 433,228 395,340
Gift aid reclaimed 70,640 - 70,640 69,307
503,868 - 503,868 464,647

Income from donations and legacies in 2023 was unrestricted.

3 Income from other trading activities

Total Total
Unrestricted Restricted 2024 2023
£ £ £ £
Bookstall 11 - 11 47
Tenancies 24,816 - 24,816 19,049
Building hire 8,991 - 8,991 9,088
Other activity income 18,434 - 18,434 17,618
52,252 - 52,252 45,802

Income from other trading activities in 2023 was unrestricted.

4 Investment income

4 Investment income
Total Total
Unrestricted Restricted 2024 2023
£ £ £ £
Bank interest receivable 1,862 - 1,862 46
Dividends received from listed
investments 133 - 133 177
1,995 - 1,995 223

Investment income for 2023 was unrestricted.

Page 22

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

5 Activities in furtherance of the Charity’s objectives

2024 2023
£ £
Donations made:
Crosslinks – The Aranzullas 7,800 7,800
Wycliffe UK Ltd. – The Lowrys 4,200 4,200
WEC International – The Pachts 3,000 3,000
Crosslinks – The Millers 3,000 3,000
Open Doors 3,000 3,000
Peter Mukungi – Living Costs 1,200 -
Oak Hill College 7,000 7,000
Shimizus - JCL London 5,000 5,000
Operation Mobilisation 3,000 3,000
St. Clements Church – The Jumps 3,000 3,000
London City Mission 6,000 6,000
Other donations of £150 and under 908 1,051
47,108 46,051
Church activities:
Utilities 37,993 21,870
Insurance 9,195 4,882
Cleaning materials & refuse collection 116 202
Cleaning 9,568 9,536
Bookstall 888 272
Repairs & renewals 6,287 32,753
Regular events 11,333 11,369
Occasional events 35,211 21,754
110,591 102,638
Staff costs:
Staff remuneration 192,908 177,525
Staff housing 96,124 92,618
Staff training 3,549 3,888
Other staff expenses 4,806 4,087
297,387 278,118
455,086 426,807

All expenditure on activities in furtherance of the charity’s objects in 2024 and 2023 was unrestricted.

Page 23

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

6 Governance costs

2024 2023
£ £ £ £
Unrestricted Restricted Total Total
Audit fee 5,150 - 5,150 4,270
Professional fees 6,021 - 6,021 10,568
Bank charges 187 - 187 151
Postage, stationery and other
office costs 8,286 - 8,286 9,307
Telephone & internet 2,238 - 2,238 1,330
Payroll software support &
computer expenses 1,964 - 1,964 2,521
TV Licence 159 - 159 159
Depreciation 6,674 - 6,674 6,674
30,679 - 30,679 34,980

Governance costs in 2023 were unrestricted.

7 Net Incoming / (outgoing) resources

Net incoming / (outgoing) resources are stated after charging:

2024 2023
£ £
Depreciation 6,674 6,674
Auditor's remuneration 5,150 4,270

8 Staff costs

Staff costs were as follows:

Staff costs were as follows:
2024 2023
£ £
Salaries 153,518 146,201
Social security costs 10,942 7,546
Staff pensions 28,448 23,778
Total 192,908 177,525

Page 24

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

The average number of employees during the year was as follows:

2024 2023
No No
Ministerial 4 4
Governance 3 3
7 7

No employee received emoluments of more than £60,000 during the current and prior year.

9 Trustees remuneration & related party transactions

The trustees were not paid or received any other benefits from employment with the charitable company during the year (2023: £nil) neither were they reimbursed expenses during the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charitable company (2023: £nil).

10 Auditors' remuneration

2024 2023
£ £
Audit of the financial statements 5,150 4,270

Page 25

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

11 Tangible fixed assets

11 Tangible fixed assets Tangible fixed assets
Freehold Leasehold
Land and Land & Organ & Furniture &
Buildings Buildings Piano Fittings Total
£ £ £ £ £
Cost
At 1 September
2023 5,638,071 1,035,019 36,907 93,306 6,803,303
At 31 August 2024 5,638,071 1,035,019 36,907 93,306 6,803,303
Depreciation
At 1 September
2023 - - 23,816 81,854 105,670
Charge for the year - - 1,476 5,198 6,674
At 31 August 2024 - - 25,292 87,052 112,344
Net book value
At 31 August 2024 5,638,071 1,035,019 11,615 6,254 6,690,959
At 31 August 2023 5,638,071 1,035,019 13,091 11,452 6,697,633

St John’s Downshire Hill owns the freehold of the following properties: the church building, (St John’s Church, Downshire Hill, Hampstead, NW3 1NU); 64 Pilgrims Lane, NW3 1SN; and, 88 Upper Park Road, NW3 2UJ.

St John’s Downshire Hill owns the leasehold of Flat 20, South End Close, NW3 2RB and Flat 19, Parliament Court, NW3 2TS.

The charitable company’s freehold and leasehold properties are stated at cost.

12 Investments

2024 2023
£ £
Market value at 1 September 2,386 3,124
Unrealised loss 238 (738)
Market value at 31 August 2,624 2,386

The investments are represented by 1,192 (2023: 1,192) shares in Vodafone and 57 (2023: 57) shares in Verizon. These have been shown at their market value at the year-end.

Page 26

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

13 Debtors

13 Debtors
2024 2023
£ £
Recoverable Gift Aid 42,037 41,381
Amazon gift cards 88 87
Prepayments 146,856 37,107
188,981 78,575

14 Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 86,511 36,997
Accruals 10,322 3,250
96,833 40,247

15 Amounts falling due after more than one year

2024 2023
£ £
Concessionary loans 194,000 224,000

The above concessionary loans are interest free and repayable on 24 months’ written notice from the lender. The loan is secured on the property known as: 88 Upper Park Road, London NW3 2UJ.

16 Analysis of net assets between funds

Year ended 31 August 2024 Unrestricted
General Restricted Total funds
£ £ £
Fixed assets 5,989,292 701,667 6,690,959
Investments 2,624 - 2,624
Current assets 276,831 - 276,831
Current liabilities (96,833) - (96,833)
Creditors over 1 year (194,000) - (194,000)
Total net assets 5,977,914 701,667 6,679,581

Page 27

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Year ended 31 August Year ended 31 August 2023 Unrestricted Unrestricted
General Restricted Total funds
£ £ £
Fixed Assets 5,995,966 701,667 6,697,633
Investments 2,386 - 2,386
Current assets 171,221 - 171,221
Current liabilities (40,247) - (40,247)
Creditors over 1 year (224,000) - (224,000)
Total net assets 5,905,326 701,667 6,606,993
17 Funds
Balance at Incoming Resources Investement Balance at
Year ended 31 August 1 Sep 2023 resources expended gain/(loss) 31 Aug 2024
2024 £ £ £ £ £
Restricted 701,667 - - - 701,667
Unrestricted funds
General reserve 5,723,560 558,115 (485,765) - 5,795,910
Other reserves 181,766 - - 238 182,004
Total funds 6,606,993 558,115 (485,765) 238 6,679,581
Balance at Incoming Outgoing Investment Balance at
Year ended 31 August 1 Sep 2022 resources resources gain/(loss) 31 Aug 2023
2023 £ £ £ £ £
Restricted funds 701,667 - - - 701,667
Unrestricted funds
General reserve 5,674,675 510,672 (461,787) - 5,723,560
Other reserves 182,504 - - (738) 181,766
Total funds 6,558,846 510,672 (461,787) (738) 6,606,993

Restricted funds

Represent the cost of freehold properties purchased using capital appeal donations.

Unrestricted Funds

General reserve - represents the ‘free reserve’ which is used to provide working capital and to finance the day-to-day activities of the charitable company.

Other Reserves - represent unrealised gains on revaluation of the charitable company’s assets.

Page 28

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

18 Pension schemes

a) Defined contribution pension scheme

The charity operates a defined contribution pension scheme for its non-ordained staff. The pension cost of £14,362 (2023: £12,700) was charged to Statement of Financial Activities.

There were no outstanding contributions payable to the scheme at the year end (2023: £nil)

b) Other pension schemes accounted for as defined contribution pension schemes

St John’s Downshire Hill participates in the Church of England Funded Pension Scheme for stipendiary clergy for two members (2023: two members). This scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to a specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pension cost charged to the Statement of Financial Activities in the year are contributions payable towards benefits and expenses accrued in that year £13,687 (2023: £15,077) plus the figures highlighted in the table below as being recognised in the Statement of Financial Activities, giving a total charge of £13,687 (2023: £11,077).

Contributions totalling £Nil were payable to the scheme at the year-end (2023: £Nil).

A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions:

• An average discount rate of 2.7% p.a.;

• RPI inflation of 3.6% p.a. (and pension increases consistent with this);

• CPIH inflation in line with RPI less 0.8% pre 2030 moving to RPI with no adjustment from 2030 onwards;

• Increase in pensionable stipends in line with CPIH;

• Mortality in accordance with 90% of the S3NA tables, with allowance for improvements in mortality rates in line with the CMI2020 extended model with a long term annual rate of improvement of 1.5%, a smoothing parameter of 7, an initial addition to mortality improvements of 0.5% pa and an allowance for 2020 data of 0% (i.e. w2020 = 0%).

Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2024, since the Scheme was fully funded.

Page 29

ST JOHN'S DOWNSHIRE HILL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

% of pensionable stipends January 2021 to
December 2022		 January 2023 to
December 2024
Deficit recovery contributions 7.1% Nil

An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from April 2022, and remained in place until December 2022.

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules.

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no agreed deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2023 and 31 December 2024 is nil. The movement in the balance sheet liability over 2023 and over 2024 is set out in the table below.

2024 2023
£ £
Balance sheet liability at 1 January - 4,000
Deficit contributions paid - (2,000)
Remaining change to the balance sheet liability* (recognised in
SoFA) - (2,000)
Balance sheet liability at 31 December - -

The legal structure of the scheme is such that if another Responsible Body fails, St John’s Downshire Hill could become responsible for paying a share of that Responsible Body’s pension liabilities.

19 Status

The company is a charitable company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

20 Events after the financial period

In December 2024, the leasehold property known as 20 South End Close, London NW3 2RB was sold for £555,000.

Page 30