2020-12-31-accounts - St Andrew Holborn Church Foundation

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inciple ad	inciple ad	visors
Investment		Managers:	Cazenove Capital			Sarasin	Br Partners		LLP
			(until September 2020)			(from September		2020)
			1 London Wall Place,			Juxon	House
			London			100St	Paul's Churchyard
			EC2Y SAU			London	EC4M	BBU
			Mayfair Capital Investment
			Management	Ltd
			2 Cavendish	Square,
			London
			W1G OPU
Auditors:			Knox Cropper	LLP
			65 Leadenhall	Street
			London
			EC3A 2AD
Property	Advisors:		Knight Frank,
			1 Wapping High Street,
			London
			E1W 1BH
Bankers:			Lloyds Bank pic
			Holbom Circus Branch
			London
			EC1N 2HP
Solicitors;			Charles Russell Speechlys		LLP
			5 Fleet Place
			London
			EC4M 7RD
Inspecting		Architects:	HMDW Architects
			16Swains Lane,
			London
			N6 6QS

			Notes	Unrestricted	Total	Total
				Funds	Funds	Funds
				2020	2020	2019
INCOME FROM:
Grants, Donations and	Legacies			69,404	69,404	143
Investments				365,119	365,119	465,740
Other				500	500
Share of)oint Venture	Profit			5,228	5,228	22,364
TOTAL INCOME				440,251	440,251	488,247
EXPENDITURE ON:
Raising Funds				73,504	73,504	34,488
Charitable Activities				419,026	419,026	914,302
Other Expenditure						65,199
TOTAL EXPENDITURE				492,530	492,530	1,013,989
				(52,279)	(52,279)	(525,742)
Net Gains/(Losses)	on Investments		8	)657,289)	~657,289)	369,454
NET (EXPENDITURE)/INCOME
AND NET MOVEMENT IN		FUNDS		(709,568)	(709,568)	(156,288)
TOTAL FUNDS BROUGHT		FOWARD		15,398,395	15,398,395	15,554,683
TOTAL FUNDS FORWARD		CARRIED		14,688,827	14,688,827	15,398,395

			Notes			2019	2019
				Group I	Foundation I	Group I	Foundation I
FIXED ASSETS
Freehold Property			7a	6,500,000	6,500,000	6,500,000	6,500,000
Investment	Property		7b	5,000	5,000	5,000	5,000
Other Fixed	Assets		7c	4,697	4,697	4,803	4,803
Investments			8	8,027,811	8,027,811	8,760,050	8,760,050
Investment	in Trading	Company	9	17,319	1	29,915	1
				14,554,827	14,537,509	15,299,768	15,269,854
CURRENT	ASSETS
Debtors			10	54,505	54,505	103,625	103,625
Cash at Bank and In		Hand		132290	132,290	71256	71 256
				186,795	186,795	174,881	174,881
Creditors;	Amounts	falling due
within one	year			52 795	52 795	76,254	76 254
Net Current Assets				134,000	134,000	98,627	98,627
TOTAL NET ASSETS				14,688,827	14,671,509	15,398,395	15,368,481
FUNDS
Unrestricted	General	Fund		14,688,827	14,671,509	15,398,395	15,368,481
TOTAL FUNDS				14,688,827	14,671,509	15,398,395	15,368,481

										2020	2019
							Note		Total Funds		Total
											Funds
										E	E
Net Cash Provided by (used in) Operating			Activities				A		(420,585)		(828,159)
Cash flows from investing activities
Dividends interest and rents from investments										415,238	465,740
Investment management fees										(23,497)	(20,211)
Purchase of property, plant and equipment										(2,896)	(1,097)
Proceeds from sale of investments									4,673,921		141,520
Purchase of investments									('l,702,818)
Distributions from joint venture										17,824	24,147
Net cash provided by (used in) investing			activities							377,772	610 099
Cash flows from financing activities
Net Cash Expended by (used in) financing			activities
Change in cash and cash equivalents	in	the		reporting	period					(42,813)	(218,060)
Cash and cash equivalents at the beginning		of	the	reporting	period		8			235,803	453,863
Cash and cash equivalents at the end	ofthe			reporting	period		B			192,990	235,803
A. Reconciliation ofnet income/(expenditure)				to net	cash	flow from		operating		activities
										2020	2019
										E	E
Net income/(expenditure) for the reporting	period									(709,568)	(156,288)
Depreciation charge										3,002	2,038
(Gains)/Losses on Investments										657,289	(369,454)
Dividends, interest and rent from investments										(365,119)	(465,740)
Investment management fees										18,494	19,917
(Increase)/decrease in debtors										(3,063)	150,003
Increase/(decrease) in creditors Share ofjoint venture profit Net cash provided by (used in) operating			activities						(16,392) ~23,228 (420,585)		13,729 ~22,364) (828,159)
B, Analysis ofcash and cash equivalents
Cash at bank and in hand										132,990	71,256
Cash at Investment Managers										60,700	164,547
Total cash and cash equivalents										192,990	235,803
C. Analysis ofchanges in net funds					At 01/01/2020				Cashflows At		31/12/2020
Cash and Cash Equivalents					E 238,803			E ~42 813			E 192 990

INVESTME	NT	INCOME
				2020		2019
					E		E
Rental	Income				102,014		97,873
Investment		Income
			Cazenove	137,910		200,185
			Pitch	125,097		167,043
					263,007		367,228
Interest	Receivable				98		639
					365,119		465,7'l0
COSTS OF	RAISING FUNDS
						2020	2019
						E	E
Investment		Management	Fees			18,494	19,917
Support	Costs (Note 5)					55,010	14,571
						73,504	34,488
CHARITABLE ACTIVITIES
				Upkeep 8
				Maintenance	Ministry
				ofthe Church	Support	2020	2019
				E	E	E	E
Staff Costs				70,242	7,805	78,047	85,696
Maintenance		and Repair	Work	90,374		90,374	554,429
Clergy Costs					100,390	100,390	99,747
Church	Heat	Ik Light		15,063		15,063	17,534
Insurance				2,367		2,367	9,420
Support	Costs (Note 5)			87,187	45,598	132,785	147,476
				265,233	153,793	419,026	914,302
2019				2,156,119	113,708	914,302

				2020	2019
				E	E
Staff Costs				111,113	72,575
Staff Training				1,165	773
Insurance				1,267	1,254
Establishment	Costs			37,223	51,766
Computer Costs				12,164	13,088
Postage &Stationery				6,625	5,842
Depreciation				3,002	2,037
Professional	Fees			2,967	1,858
Irrecoverable	VAT			14,740	25,516
Sundry Expenses				1,507	1,795
Governance Costs Amounts recharged		to associated	charities	5,975 (9,953)	6,315 ~i20, 772
				187,795	162,047

AFF CO	STS
			2020	2019
			E	E
Salaries			160,745	133,197
National	Insurance		12,745	11,394
Pension	Costs		15,669	13,680
Termination		Payments
			189,159	158,271

TANGIBLE ASSETS
GROUP AND FOUNDATION
		2020	2019
(a) Freehold Property		I	I
Valuation at 1January	2020	6,500,000	6,500,000
Revaluation
Valuation at 31December 2020		6,500,000	6,500,000

			2020	2019
(b)	Investment	Properties	I	I
	Fair Value At	1January 2020	5,000	5,000
	Sale Proceeds
	Gain on Sale
	Fair Value at	31 December 2020	5,000	5,000
	Cost at 31"December 2020


Other Fixed	Assets		Furniture
		Computer	and
Cost		Equipment I	Equipment I		Total I
At 1"January	2020	27,215	72,389		99,604
Additions		2,896			2,896
Disposals
Transfers
At 31"December 2020		30,111	72	389	102,500
Depreciation At 1"January	2020	23,143	71,658		94,801
Charge for Year		2,637		365	3,002
Disposal
Transfer
At 31"December 2020		25 780	72,023		97,803
Net Book Value at 31"December 2020		4,331		366	4,697
Net Book Value at 31"December 2019		4,072		731	4,803

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ESTMENTS IN JOINT VENTURES OUP AND FOUNDATION
	2020	2019
	E	I
At 1"January 2020	29,915	31,698
Share of Profit Distribution Received At 31"December 2020	5,228 ~27,8247 17,319	22,364 ~24, 247 29,915

					2020	2019
					E	F
Turnover Cost of Sales					77,322 ~28 385	212,131 (55,628)
Gross Profit					58,937	156,503
Other Costs					(40,410)	(109,686)
Interest	Receivable				1	1
Profit					18,528	46,818
Tax					1,008	(11,171)
Profit For The Year					19,536	35,647
Retained Gift Aid	Earnings Brought Forward to Guild Church Council and Church			Foundation	50,747 (35,647)	63,395 ~48 295
Retained	Earnings	Carried	Forward		34,636	50,747

			2019
			E
At	1"January	2020
At	31"December 2020

OUP AND	FOUNDA	TION
						2020	2019
						E	E
Trade Debtors						14,305	1,022
Other Debtors and		prepayments				23,137	32,210
Investment	Income	Receivable				12,157	64,340
St. Andrew	Holborn	Trading	Ltd - Current		Account	4,778	5,860
Parish Estates Charity							29
St Andrew	Holborn	Charity	8r Stafford's	Charity		128	164
						54,505	103,625

		2020	2019
		E	E
Trade Creditors		10,337	13,936
Taxation	and Social Security	4,303	11,688
Accruals	and Deferred Income	38,155	50,630
		52,795	76,254

		2020	2019
Payments Less than	due in: one year	E 16,640	E 20,073
Between	two and five years		3,434
Greater than five years
		16,640	23,507