Registered Charity No: 261782
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED**
## **31 DECEMBER 2021**
**FISHER PHILLIPS LLP Chartered Accountants**
## **THE HEATH & HAMPSTEAD SOCIETY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
**The trustees (during the year ended 31 December 2021 and thereafter, until the date of approval of these financial statements)**
**Registered charity number Principal place of business**
**Accountants**
## **Bankers**
|Lord Hoffmann|(Retired 21 July 2021)|
|---|---|
|Lord Mance|(Appointed 21 July 2021)|
|M Humphery|(Retired 31 December 2021)|
|M Hutchinson||
|M Clark-Darby||
|E Ellis||
|J Beyer||
|D Castle||
|L Austin||
|T Ghilchik||
|F Harding||
|V Harding||
|A Haslam-Jones||
|J Learmond-Criqui||
|R Linger||
|D James-Williams|(Retired 13 August 2021)|
|T Radice||
|M Raman|(Appointed 21 July 2021)|
|P Tausig|(Retired 21 July 2021)|
|Prof J Wagge||
|J Weston||
|261782||
|PO Box 38214||
|London||
|NW3 1XD||
|Fisher Phillips LLP||
|Summit House||
|170 Finchley Road||
|London||
|NW3 6BP||
|Lloyds Bank plc||
|London||
|CCLA Investment Management||
|Senator House||
|85 Queen Victoria Street||
|London||
|EC4V 4ET||
## **THE HEATH & HAMPSTEAD SOCIETY**
## **CONTENTS**
||Pages|
|---|---|
|Trustees' Report|1 - 5|
|Independent Examiner's Report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 11|
## **THE HEATH & HAMPSTEAD SOCIETY**
## **TRUSTEES' REPORT**
The trustees present their report together with the financial statements of the Society for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 - 11 and comply with applicable law.
## **Constitution and governance**
The Society is an unincorporated association constituted under its governing document, the Society’s constitution, adopted on 19 June 2012. The Society’s sub-committees are regulated by a series of bye-laws. All significant decisions affecting the Society are taken by the General Committee, which meets every two months.
Trustees (the members of the Society’s General Committee) are mostly elected. Some are elected for three-year terms at the annual general meeting. The officers (President, Vice-President, Chair, Treasurer, Secretary) are elected annually at the annual general meeting. The three Vice-Chairs (the chairs of the Society’s three permanent sub-committees) and the Society’s representative on the statutory City of London Hampstead Heath Consultative Committee are appointed by the trustees. The trustees occasionally appoint other persons as trustees to fill temporary vacancies on the General Committee. The maximum permitted number of trustees is 20. New trustees are given the current Charity Commission guidance on trusteeship and have a discussion about their duties with the Society’s Chair (a solicitor). Most of the trustees are or have been trustees of other charities.
Because of the Covid pandemic it was not possible to hold the 2020 annual general meeting in 2020 or even, on a delayed basis, in the Spring of 2021. The Society's constitution did not then permit the holding of virtual meetings. Accordingly the 2020 meeting was combined with the 2021 annual general meeting held in July 2021. At that meeting the constitution was amended to enable the holding of virtual meetings, of the Society and of its committees.
The trustees named under Legal and Administrative Information have served as detailed.
The Society does not employ staff and none of its trustees or sub-committee members is remunerated. All the charitable work of the Society is performed by volunteers.
## **Charitable objects**
The objects of the Society are;
1. To preserve those parts of Hampstead Heath which are subject to s.16 of the Hampstead Heath Act 1871 in their wild and natural state, and also to preserve the natural and characteristic features of the other parts of the Heath, so far as is consistent with their enjoyment by the public;
2. To promote and maintain the amenities and characteristics of the environs of the Heath, and of the buildings and streets of Hampstead;
3. To promote public interest in the study of natural history, conservation and the history of the areas referred to in 1 and 2 above.
## **Main activities**
The main activities of the Society in relation to its objects (by reference to the numbered objects) have been as follows:
1. The Society makes regular representations to the City of London Corporation in several forums concerning the conservation and management of the Heath: the Hampstead Heath Consultative Committee and the Hampstead Heath Sports Forum. The Society’s Heath Sub-Committee undertook inspection walks of different parts of the Heath, accompanied by Heath staff, to monitor the conservation of the Heath. The number of walks was limited in 2021 by reason of the Covid pandemic rules on gatherings. The Society is also represented on the Hampstead Heath Management Committee, the statutory body which manages the Heath on behalf of the City.
2. The Society continued to participate in the preparation of various draft policies to be promulgated under the City of London Corporation (Open Spaces) Act 2018, a private Act for the better regulation of the City’s open spaces, including Hampstead Heath. Participation included meetings with the City and stakeholders for discussion on policy and actual drafting. The Society continued to work with the City to identify the existing preferred nesting areas of Heath birds and to formulate a strategy for rubbish recycling, and the hugh increase in visitor numbers following the start of the Covid pandemic. Since March 2020, the Chair and members of the Heath Sub-Committee have meet, for approximately one hour, online and fortnightly with the Superintendent of the Heath to monitor and discuss all management issues affecting the Heath. These scheduled meetings began during, and because of, the pandemic in March 2020 but have been continued by reason of their general usefulness.
3. The Society has continued to support Camden Council in relation to ongoing and successful enforcement action over the erection of new buildings at the South Fairground Site (MOL) at the Vale of Health.
Page 1
## **THE HEATH & HAMPSTEAD SOCIETY**
## **TRUSTEES' REPORT**
## **Main activities (continued)**
4. The Society reviews and comments to Camden Council on most planning applications in Hampstead and on the fringes of the Heath. The Society opposes inappropriate development (typically new basements) and contributes financially to, and in an advisory or expert role at, planning appeals, especially those involving a seriously harmful development or one which involves the setting of a harmful precedent. The Society is in constant contact with Camden Council in relation to planning, development, conservation and traffic issues. The Society also assists residents and others in opposing inappropriate licensing applications, typically for extended alcohol licences. The Society campaigns in support of local independent shops, and runs the Hampstead Card scheme for that purpose.
5. The Society appeard as a Rule 6 Party before a planning inspector in relation to an appeal by the developer seeking permission for the construction of two oversized townhouses on the very edge of Hampstead Heath at Jack Straw's Castle. The Society, in support of the local planning authority, gave expert and non-expert evidence at the appeal but the appeal was successful.
6. The Society continued to support new campaigns to prevent: 1) the demolition - with a view to the construction of high-rise luxury flats - of Queen Mary's House, a former maternity hospital on a large site on the edge of East Hampstead Heath, presently owned by the Royal Free Hospital; and 2) the attempted construction of five houses in the garden of 55 Fitzroy Park (legally designated as "private open space") by Millfield Lane on the Highgate side of the Heath.
7. The Society organised monthly educational walks on the Heath in the second half of 2021 and published three newsletters in 2021. The Society continued the scheme for the erection of commemorative plaques on Hampstead buildings
8. On 30 September 2021 the Society hosted the annual Springett Lecture (postponed from 2020) given by Dr Merlin Sheldrake at Rosslyn Hill Chapel. The lecture is funded by a legacy from the late Kate Springett, founder of the Marylebone Birdwatching Society. Dr Sheldrake spoke about his past and continuing work on fungi, the subject of his 2020 bestselling book "Entangled Life - How Fungi make our worlds, change our minds, and shape our future". The lecture was streamed live and was available online to Society members and members of local civic groups for a week afterwards.
On the 26 October Sir Simon Jenkins, who has been a Society Patron since 2004, gave the 2021 Glass-in-Hand Lecture to Society members and the public, again at Rosslyn Chapel Hill, topically entitled "Traumas in London's History". In 2019, Sir Simon had written a popular "Story History of London", which provided the background to his illustrated talk.
9. On the 11 November 2021 the Society hosted the launch of a new book entitled "The Heath - My Year on Hampstead Heath" by the renowned author Hunter Davies, a life member of the Society and local resident. Mr Davies donated his £10,000 publisher's advance for the book to the Society in recognition of its work. The Society has appointed Mr Davies an Honorary Member of the Society in recognition of his exceptional support for it.
10. To mark publicly the sesquicentenary of the Hampstead Heath Act of 1871, the Act of Parliament that saved the Heath for the nation in perpetuity, the Society hosted three special events in the summer of 2021: a free kite-flying display (with the Kite Society of Great Britain) on Parliament Hill (sometimes known as Kite Hill); a live, free public concert on the Heath, called the _Natural Aspect Concert_ (in reference to the Society's first charitable object and the language of the 1871 Act); and an outdoor showing of the film _Tinker Tailor Soldier Spy,_ introduced by the Society's patron, Melvyn Bragg, speaking to John le Carre's son, Nicholas Harkaway. Le Carre lived in Hampstead and significant scenes in that film are set on the Heath.
The purpose of the events was to draw public attention to the signifiance of the anniversay of the Act and what it has achieved in its 150 years, to encourage more visitors to the Heath and to make all visitors aware of the Heath's importance as, arguably, London's greatest open space, and to educate them about the need for its continuing protection.
11. As part of the sesquicentenary celebrations the Society began a new project of a changing display of large information boards on the fringes of the Heath educating visitors, in a seasonal context, about the Heath's wilflife and biodiversity.
All such activities were for the public benefit. The charity does not have individual beneficiaries.
Page 2
## **THE HEATH & HAMPSTEAD SOCIETY**
## **TRUSTEES' REPORT**
## **Main achievements**
Apart from the activities described above, the Society’s main achievements for 2021 have been:
1. The continued influence on Camden Council in relation to the proper application of its basement construction and other planning policies.
2. The continuation of a photographic competition #myhampsteadheath which has attracted well over 4,000 entries. Winning entries have appeared in the local press. One purpose of the competition is to promote awareness of the Heath and its importance.
3. The obtaining of various tree preservation orders within Hampstead and successful enforcement action in relation to unlawful tree felling.
4. The continued improvement of the Society website, with related Twitter, Facebook and Instagram links for the Society, containing among other things, an interactive and educational map, accessible via an app, of Hampstead Heath.
5. The Society continued to work with the church authorities to restore the tomb of the artist Constable in the churchyard of St John-at-Hampstead.
## **Plans for the future**
Once the legal restrictions imposed in connection with the Covid pandemic were removed, the Society was able to resume its full range of customary activities. The seasonal Heath biodiversity display board project begun in 2021 will be continued during 2022.
The Society, in view of their success and popularity, will also continue to host the Kite Display and Natural Aspect Concert (see above) in 2022.
The Society will seek to continue and expand the work of the Society in pursuance of its objects by increasing the Society's membership and its funding.
## **Reserves policy**
The Society’s policy on reserves is as follows: The Society maintains reserves to cover approximately one half-year’s expected annual expenditure, together with funds to enable it to pursue its objects as described above. There are no funds in deficit.
## **Assets as custodian trustee**
The Society holds no assets as custodian trustee apart from certain publications for sale or resale.
Page 3
## **THE HEATH & HAMPSTEAD SOCIETY**
## **TRUSTEES' REPORT (CONTINUED)**
## **Financial review**
The trustees are satisfied with the financial performance of the Society in this year.
## _Principal risks and uncertainties_
The trustees do not foresee any significant risks to the Society or its operations, or any particular uncertainties facing it. At the end of 2021, the Society's membership stood at 2,015 (2,053 in 2020), of which 535 (526 in 2020) were life members. The slight decrease in the total number is not a trend and is attributable to annual members delaying the renewal of their membership in circumstances of the disruption of the Covid pandemic, the need for the Society to delay its planned local maildrop to attract new members, and the impossibility of erecting the traditional recruitment stalls at local fairs etc to recruit new members by face-to-face invitation. It is hoped these temporary causes will disappear in 2022.
The work of the Society could be adversely affected by new or changed government legislation or policies, at national or local level, but the Society is not presently aware of any such legislation or policies.
The Society only exceptionally enters into future financial commitments, with the result that it is always able to control its dayto-day expenditure to keep it, for practical purposes, within the Society’s actual and anticipated income.
## _Going concern_
The financial statements have been prepared on a going concern basis.
## _Summary of financial performance_
The Society incurred a net surplus of £11,117 during the financial year 2021. The main reason for this surplus was the cancellation, during the first half of 2021, of all meetings and events for the Society's members, and a donation into unrestricted funds from a local author, Hunter Davies, of £10,000. There was a net income for the year of £13,667 in unrestricted funds, and net expenditure of £2,550 in restricted funds. Included within the net surplus was an unrestricted funds gain on the Society's investment of £550.
The increased gross expenditure is due to the Society returning to issuing three newsletters in 2021 (two newsletters only in 2020).
The Society receives its funds from membership subscriptions, donations, legacies, organised walk contributions, lectures, appeals, fund-raising social events, deposit interest, and income from its investments.
A portion of these funds is applied in meeting the administrative costs of the Society. The major part of the balance is spent on producing a newsletter three times a year containing articles about Hampstead and Hampstead Heath, and on legal and other professional fees incurred in connection with the Society’s campaigning activities.
At the year end, the Society had net assets of £58,910. £34,280 are held in unrestricted funds, and £24,630 in restricted funds.
The Society prepares cash flow and budget projections annually. These indicate the Society can meet its liabilities for a period of not less than 12 months from the date of approval of these projections by the trustees of the Society.
The trustees of the Society monitor, on a regular basis, its liquid resources, cash flows and bank balances, and general administrative expenses. The Society's costs are tightly controlled.
## _Accounting policies and future outlook_
The Society reviews its accounting policies annually. It is the view of the trustees of the Society that no changes to the current policies are needed. The trustees are not aware of any specific factors likely to affect the financial performance of the Society or its position going forward.
Page 4
THE HEATH & HAMPSTEAD SOCIETY
TRUSTEES, REPORT ICONTINUEDI
Statement of trustse$' responsibilities
The Iruslees have referred lo the guidance contsined in the Charity Commission's general guidance on public benefit
vh)en reviewing the aims and objèctives and in planning lulure aclivilies.
The law applicab lo charities in England and Wales requires the Iruslees lo prepare financial slalemenls for each
financi81 year which give a true and fair view ol the charity's financial activities during the year and ils financial position
al the end of the year. In preparing financial slalemenls giving a true and lair vW the Iruslees should follow best
select suitable accounting policies and then apply them consislenlly,
obseNe the methods and wllciples in the Charities SORP FRS 102,
make judgments and eslimales that are reasonable and pwotenl,
slate whether apPIable accounting standards and slalernents of iecornmended practi
have been followed, subject lo any departu disclosed and explained in the financial
slatemenls, and
prepafB the financial stalernenls on a going concern basis Un58 il is inappropriate lo
presuffle that the charity wlll Continue in operation.
The trustees are responsible for keeping accounting records which discbse wrth reasonable accuracy the finaKial
pth0n ol the eh8rily and which enable them lo ascgrt8in that the financial slalemenls comply with the Charities Act
2011, the Charity IAccouRts and Reports) Regulations 2008 and the provisions DI the charity'8 conslilullon. They are
also sponSible for safeguarding the assets of the charity and henTr lor taking reasonable steps for the prevention and
detection ol fraud and other irregularities.
Approved by the Iru5tees on 15 March 2022 and signed on their
alf by:.
Marc Hutchinson
Chair
reen Clark.D
Tre25uier
rby
Pagg 5
## **THE HEATH & HAMPSTEAD SOCIETY**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HEATH & HAMPSTEAD SOCIETY**
I report on the accounts of the charity for the year ended 31 December 2021 which are set on pages 7 to 11.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act)
- follow the procedures laid down in the General Directions given by the
- Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts seeking explanations from you as the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- 1) which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Philip Sykes**
## **for and on behalf of Fisher Phillips LLP**
Chartered Accountants Summit House, 170 Finchley Road London NW3 6BP
Dated 15 March 2022
Page 6
## **THE HEATH & HAMPSTEAD SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
|**FOR THE YEAR ENDED 31 DECEMBER 2021**||
|---|---|
|**Notes**
**Income from:**
Subscriptions
**6**
Donations and legacies
Investment income and interest receivable
**7**
**Total income**
**Expenditure on:**
Charitable activities:
Town expenditure
Heath expenditure
Website and IT expenditure
Newsletter
Administration expenditure
Independent examination fee
Membership promotion
Charitable donations
Kate Springett Legacy
**11**
J P Walmsley Legacy
**11**
Costs of generating funds
**8**
**Total expenditure**
Net gains / (losses) on investments
**Net income / (expenditure) for the year**
Transfer between funds
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward at 1 January 2021
**Total funds carried forward at 31 December 2021**
**11**
**Net income / (expenditure) before other recognised**
**gains and losses**|**2021**
_2020_
**Restricted**
**Unrestricted**
**Total**
_Total_
**£**
**£**
**£**
_£_
**-**
**26,861**
**26,861**
_28,371_
**5,038**
**17,656**
**22,694**
_33,842_
**-**
**233**
**233**
_424_|
||**5,038**
**44,750**
**49,788**
**62,637**
**(4,176)**
**(337)**
**(4,513)**
_(31,374)_
**-**
**(3,601)**
**(3,601)**
_(6,000)_
**-**
**(3,930)**
**(3,930)**
_(5,518)_
**-**
**(13,076)**
**(13,076)**
_(8,450)_
**-**
**(1,420)**
**(1,420)**
_(2,143)_
**-**
**(1,800)**
**(1,800)**
_(1,800)_
**-**
**(4,890)**
**(4,890)**
_(276)_
**-**
**(1,068)**
**(1,068)**
_(1,136)_
**(2,689)**
**-**
**(2,689)**
_-_
**(723)**
**-**
**(723)**
_(1,732)_|
||**(7,588)**
**(30,122)**
**(37,710)**
(58,429)
**-**
**(1,511)**
**(1,511)**
_(60)_|
||**(7,588)**
**(31,633)**
**(39,221)**
(58,489)|
||**(2,550)**
**13,117**
**10,567**
_4,148_
**-**
**550**
**550**
_(864)_|
||**(2,550)**
**13,667**
**11,117**
3,284
**-**
**-**
**-**
_-_|
||**(2,550)**
**13,667**
**11,117**
3,284
**27,180**
**20,613**
**47,793**
_44,509_|
||**_24,630_**
**_34,280_**
**_58,910_**
_47,793_|
All incoming resources and resources expended derive from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
Page 7
THE HEATH & HAMPSTEAD S¢XIETY
BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Notès
FIXED ASSETS
Investments
4,668
4,118
CURRENT ASSETS
Debtors
Cash al bank and in hand
531
103,081
531
113,262
103,612
113,793
CREDITORS
ounts falling due wthin one ye¥
128,0861
f57,284)
NET CURRENT ASSETS
75.526
62,SL
TOTAL ASSETS LESS CURRENT LIABILITIES
80.194
66,627
CREDITORS
Amounts falling due after one year
121,2841
(18,8341
58,910
47,793
CAPITAL AND RESERVES
Restricted funds
Unrestricted funds
11
24,630
34,280
27,180
20,613
11
58,970
47, 793
These financial slalements were approved by the trustees on 15 March 2022 and were signed on their behalf by.."
Mai¢ Hutehinson
Chair
aureen Clark-D
Treasurer
rby
Page 8
## **THE HEATH & HAMPSTEAD SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## 1. **ACCOUNTING POLICIES**
## 1.1 **Accounting convention**
The financial statements have been prepared 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 - effective 1 January 2015) - (Charities SORP FRS 102).
The charity 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 or note.
## 1.2 **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## 1.3 **Income**
Income resources comprise membership subscriptions, donations, legacies, organised walk contributions, appeals, fund-raising social events, deposit interest and income from its investments.
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
The Society receives life membership subscriptions. This income is spread over ten years from the year in which it is first received.
- 1.4 **Donations of gifts, services and facilities**
Donated gifts, professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## 1.5 **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## 1.6 **Resources expended**
Resources expended are included in the statement of financial activities on an accruals basis, inclusive of VAT which cannot be recovered.
Certain expenditure is directly attributable to specific charitable activities and has been included in those cost categories.
Direct expenditure in respect of fund-raising and governance is shown separately.
Page 9
## **THE HEATH & HAMPSTEAD SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## 1. **ACCOUNTING POLICIES (CONTINUED)**
## 1.7 **Fund accounting**
Unrestricted funds comprise general funds which the trustees are free to use in accordance with the charitable objects. Restricted funds are funds which have been given for particular projects. These funds are represented by cash at bank.
## 1.8 **Investments**
Unlisted investments are stated at market value at the balance sheet date.
The Statement of Financial Activities includes the net gains and losses arising on revaluations throughout the year.
## 1.9 **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 1.10 **Cash at bank and in hand**
Cash at bank and cash 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.
## 1.11 **Creditors and provisions**
Creditors and provisions 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.
## 1.12 **Reserves**
The Society maintains reserves to cover one half year's expected annual expenditure and funds to enable it to pursue its charitable objects.
## 1.13 **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.
## 2. **INVESTMENTS**
Unlisted investments consist of units held in The Equities Investment Fund for Charities (Charifund).
|**Market valuation**
At 1 January 2021
Net investment gain/(loss)
At 31 December 2021
Historical cost
**DEBTORS**
Donations
Other debtors
**CREDITORS: amounts falling due within one year**
Annual subscriptions paid in advance
Deferred life membership subscriptions
Accruals|**2021**
**£**
**-**
**531**|**£**
**4,118**
**550**|
|---|---|---|
|||**4,668**|
|||**372**|
|||_2020_
_£_
_-_
_531_|
||**531**|_531_|
||**3,425**
**2,365**
**22,296**|_870_
_2,093_
_48,321_|
||**28,086**|_51,284_|
## 3. **DEBTORS**
## 4.
Page 10
## **THE HEATH & HAMPSTEAD SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
|5.
**CREDITORS: amounts falling due after one year**
Total deferred life membership subscriptions
Less: falling due within one year
Deferred for between two and five years
Deferred for more than five years
6.
**SUBSCRIPTIONS**
Members' subscriptions attributable to the current year
Gift Aid recoverable on current subscriptions
7.
**INVESTMENT INCOME**
Dividends received from unlisted investments
Gross interest received from cash deposits
8.
**COSTS OF GENERATING FUNDS**
Convening and conducting the annual general meeting|**2021**
**£**
**23,649**
**(2,365)**|_2020_
_£_
_20,927_
_(2,093)_|
|---|---|---|
||**21,284**|_18,834_|
||**9,460**
**11,824**|_8,372_
_10,462_|
||**21,284**|_18,834_|
||**20,206**
**6,655**|22,613
5,758|
||**26,861**|_28,371_|
||**223**
**10**|_150_
_274_|
||**233**|_424_|
||**1,511**|_60_|
9. **STAFF COSTS AND TRUSTEES' REMUNERATION**
The Society does not employ staff and the trustees are not remunerated.
## 10. **CONTROL**
The charity is under the control of the trustees.
## 11. **FUNDS**
|**FUNDS**|||
|---|---|---|
|**Restricted reserves:**
a.
Kate Springett Legacy
b.
J P Walmsley Legacy
c.
Abacus School
**Unrestricted reserves**|**At**
Incoming
Resources
Investment
**31 Dec 2020**
resources
expended
gain/(loss)
**£**
**£**
**£**
26,457
862
(2,689)
-
723
-
(723)
-
-
4,176
(4,176)
-|**At**
**31 Dec 2021**
**£**
**24,630**
**-**
**-**|
||27,180
5,038
(7,588)
-
20,613
44,750
(31,633)
550|**24,630**
**34,280**|
||47,793
49,788
(39,221)
550|**58,910**|
## **a. Kate Springett Legacy**
This reserve is for the protection and preservation of wild bird life on Hampstead Heath.
## **b. J P Walmsley Legacy**
This reserve was originally for the commissioning and public displaying of the reproduction of a Hampstead-related piece of art and subsequently for the production and erection of the Society's historical Hampstead plaques. This reserve is now exhausted.
## **c. Abacus School**
This reserve was to fund the legal and expert witness fees and costs of the Society in appearing before a planning inspector's inquiry into a planning application to convert the former Hampstead Police Station to a school.
Restricted funds are represented by cash at bank.
## 12. **RELATED PARTY TRANSACTIONS**
During the year there were no transactions with any trustee of the charity.
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