## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **2023 ANNUAL REPORT**
The trustees of The Hampstead Church Music Trust (“HCMT”) present their report and the accounts in respect of the financial year ended 31 December 2023.
## **Status**
HCMT is an unincorporated association, constituted by a Trust Deed dated 20 April 1975 and registered as a charity by the Charity Commission for England and Wales with registration number 269427. The Trust Deed was amended during 2016 by a trustees’ resolution dated 20 April 2016 in order to change and update the provisions relating to the appointment and terms of office of trustees (see further below). Its correspondence address is c/o Hampstead Parish Church, Church Row, London NW3 6UU and its website address is www.hcmt.org.uk.
## **Trustees**
Under the amended provisions of the Trust Deed referred to above the trustees are:
- (a) the Vicar of St John-at-Hampstead (Hampstead Parish Church) - unless he declines to act or is disqualified from acting as a trustee;
- (b) up to two (or, if the Vicar of St John-at-Hampstead declines to act or is disqualified from acting as a trustee or if there is no Vicar for the time being, up to three) persons appointed by the Parochial Church Council of St John-at-Hampstead (“PCC”);
- (c) up to three persons appointed by The Friends of the Music of Hampstead Parish Church (“FOM”); and
- (d) up to four persons appointed by the trustees themselves.
With the exception of the Vicar trustees are normally appointed for fixed terms of three years. They are eligible to be re-appointed for further terms of three years except that, save in circumstances certified to be exceptional by each of the other trustees and with their unanimous consent, a trustee who has served for a consecutive period of nine years falling wholly after 20 April 2016 may not be appointed or re-appointed as a trustee. There are also provisions to ensure that a majority of the trustees are not members of the PCC.
The trustees as at 31 December 2023 and their terms of office at that date were:
|The Vicar of St John-at-Hampstead|vacant|
|---|---|
|PCC appointees|Frances Spalding (untl 16 July 2026)|
||Inigo Woolf (untl 15 July 2024)|
|FOM appointees|Handley Stevens (untl 31 December 2024)|
||Robin Tyson (untl 26 November 2025)|
||Maurits Dolmans (untl 17 May 2024)|
Bryan Sanderson (until 31 May 2025) Gill Perrin (until 31 December 2024)
Trustee appointees
## **Object**
The object of HCMT, as set out in the Trust Deed by which it is constituted, is to maintain and promote the performance and appreciation of church music in Hampstead and in particular Hampstead Parish Church. Church music is defined for this purpose as including music written for performance as part of or during any church service and any other music which (having regard to its character) is suitable for performance in a church or by a church choir. The trustees give effect to this object by the making of grants, including in particular grants towards the cost of the music at services at Hampstead Parish Church. These grants help to ensure the continuity of the Parish’s long-standing musical tradition (including the musical education and development of its junior choir) which makes a major contribution to the life and ministry of the parish.
## **Restricted funds**
In addition to its unrestricted (or general) fund HCMT had two restricted funds during the year, namely:
- (a) the **Martindale Sidwell Memorial Fund** the object of which being to establish a recital fund for young musicians, particularly those associated with Hampstead Parish Church;
- (b) the **Barney Rodgers Memorial Fund** , being for the benefit of the junior choir at Hampstead Parish Church but which, in the event that the junior choir is disbanded, may be used to support the music at Hampstead Parish Church.
## **Actvites**
The principal activity of HCMT during 2023 was the making of grants in pursuance of its objects. The total amount of grants awarded during the year was £110,159 (2022: £99,428) and included amongst them were the following:
- £53,500 towards the general service music costs at Hampstead Parish Church and
- £ 8,000 for a performance of Bach’s St Matthew’s Passion at Hampstead Parish Church
- £ 750 for an organ scholarship
- £ 2,000 towards the cost of organ recitals for the academic year 2023/24
- £10,000 towards the general service music costs at the church of St Mary The Virgin, Primrose Hill;
- £15,000 towards the cost of a series of concerts, recitals and meditations given by the Hampstead Collective in Hampstead Parish Church and St Peter’s Belsize Park in the course of 2023/4;
- £ 900 towards the costs of the Hampstead Community Choir;
- £5,750 towards the costs of concerts given by the Hampstead Chamber Choir;
- £1,500 to the Belsize Baroque Orchestral Society
- £4,040 to the London Festival of Contemporary Church Music
- £4,462 toward the general service music costs of All Hallows’ w St Stephen’s Church
- £1,810 to the Sarum Consort
## **Public beneft**
The grants summarised above gave effect to HCMT’s public benefit role which is the promotion of both the arts and education through church music, and in carrying out the work of HCMT the trustees have had regard to the Charity Commission’s guidance on public benefit.
Once again the largest grant during the year was made towards the general music costs at Hampstead Parish Church where services are open to all and where music plays an important role in many of them. The music, which is provided by professional musicians, is of a very high standard and not only is it an integral part of the regular worship of the parish but its quality and variety draws a wide range of people to the services. The junior choir, open to boys and girls aged 8-18, also plays a valuable role in the life of the parish whilst at the same time providing its members with a knowledge of and grounding in church music that it is hoped will remain with them in later life.
The grant towards the costs of the Community Choir opens opportunities for singers of limited experience to discover the joy of music-making.
## **Finances**
## (A) Investments
The investments of HCMT are held in a number of pooled investment funds, using a mix of funds to provide income and capital growth, with three investment managers as a means of diversifying risk. Performance over the past three years has been as follows.
||2021|2022|2023|
|---|---|---|---|
||%|%|%|
|Increase in capital value|15.36|(10.00)|8.25|
|Investment income|2.79|2.50|2.93|
|Total return|18.15|(7.50)|11.18|
The Trustees aim over a three year period to achieve a total return of at least 7% per year. Investment income is calculated by dividing the investment income received during the year by the market value of investments at the start of the relevant year. Whilst this aim has been met for the unrestricted funds, this is not the case for the £49,000 held in restricted funds where the emphasis is on generating income to pay to beneficiaries.
(B) Income and expenditure
The total incoming resources for the year amounted to £108,266 (2022: £102,634), whilst total resources expended amounted to £108,354 (2022: £99,428). As a result, there was an overall net operating deficit for the year of £1,834 (2022 a surplus of £3,206).
## (C) Reserves policy
The trustees’ reserves policy is in two parts. The first is that the unrestricted fund has been divided into an **Unrestricted Investment Fund** and an **Unrestricted General Fund** . The Unrestricted Investment Fund is a long term investment fund and comprises HCMT’s unrestricted investments the income from which funds HCMT's principal on-going grant-making activities. Meanwhile, the Unrestricted General Fund is HCMT’s general operating fund to which all its unrestricted incoming resources (including the income from the investments in the Unrestricted Investment Fund but excluding any legacies that the trustees decide should be added to the Unrestricted Investment Fund) is credited and from which all grants (other than grants from the restricted funds) and other outgoings are paid.
Under the second part of the policy the trustees have decided that, in order to ensure that HCMT has sufficient funds to meet grant requests as and when needed without being dependent on the timing of distribution receipts from the investments in the Unrestricted Investment Fund, it should as a general rule of thumb hold some £50,000 of immediately available cash in the Unrestricted General Fund, this sum being equivalent to six months’ anticipated expenditure. Unrestricted cash balances at the year-end were £91,870 (2022: £95,545). This puts the Trustees in a strong position to maintain and develop their grant-making activities in 2024.
## (D) Net assets
At the end of 2023 HCMT’s net assets amounted to £4,086,869 (31 December 2022: £3,783,913). Of this amount £4,037,778 (31 December 2022: £3,653,013) was attributable to the Unrestricted Investment Fund and the Unrestricted General Fund and £49,091 (31 December 2022: £50,796) was spread between the restricted funds.
## **Priorites for 2024**
In addition to HCMT’s normal grant-making activities, the Trustees will be implementing plans to refresh the Board of Trustees with three new trustees in 2024 and further recruitment for 2025.
This report was approved by the trustees on 27 February 2024
Trustee Bryan Sanderson (signed) Trustee Handley Stevens (signed)
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE 12 MONTHS ENDED 31 DECEMBER 2023**
|**Incoming resources**
**Notes**
Donations
Tax recovered
Investment income
**Total incoming resources**
**Resources expended**
Administration
Grants
4
**Total resources expended**
**Net incoming resources for year**
Change in value of investments
5
**Net movement in funds**
**Balances at start of year**
**Balances carried forward at year end**|**Incoming resources**
**Notes**
Donations
Tax recovered
Investment income
**Total incoming resources**
**Resources expended**
Administration
Grants
4
**Total resources expended**
**Net incoming resources for year**
Change in value of investments
5
**Net movement in funds**
**Balances at start of year**
**Balances carried forward at year end**|**_Unrestricted_**
**_General Fund _**
**_£_**
70.00
17.50
105,968.52
**106,056.02**
28.78
108,172.50|**_Unrestricted_**
**_Investment Fund_**
**_£_**
-
-
-
**-**
-
-|**_Restricteed_**
**_Funds_**
**_£_**
-
-
2,297.81
**2,297.81**
-
1,986.58|**_Total_**
**_2023_**
**_£_**
70.00
17.50
108,266.33
**108,353.83**
28.78
110,159.08|**_Total_**
**_2022_**
**_£_**
_70.00_
_17.50_
_102,546.66_
**_102,634.16_**
_-_
_99,427.73_|
|---|---|---|---|---|---|---|
|||**108,201.28**
**(2,145.26)**
-|**-**
**-**
306,806.00|**1,986.58**
**311.23**
(2,016.00)|**110,187.86**
**(1,834.03)**
304,790.00|**_99,427.73_**
**_3,206.43_**
_(410,422.00)_|
|||**(2,145.26)**
**80,105.06**|**306,806.00**
**3,653,012.00**|**(1,704.77)**
**50,795.89**|**302,955.97**
**3,783,912.95**|**_(407,215.57)_**
**_4,191,128.52_**|
|||**77,959.80**|**3,959,818.00**|**49,091.12**|**4,086,868.92**|**_3,783,912.95_**|
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|||**_Unrestricted_**|**_Unrestricted_**|**_Restricteed_**|**_Total_**|**_Total_**|
|---|---|---|---|---|---|---|
||**Notes**|**_General Fund _**|**_Investment Fund_**|**_Funds_**|**_2023_**|**_2022_**|
|||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|Investments at market value|5,6||3,959,818.00|41,244.00|4,001,062.00|_3,696,272.00_|
|Cash at bank and on deposit||91,869.80|-|7,847.12|99,716.92|_103,080.95_|
|Total assets||91,869.80|3,959,818.00|49,091.12|4,100,778.92|_3,799,352.95_|
|less liabilities|7|13,910.00|-|-|13,910.00|_15,440.00_|
|**NET ASSETS**||**77,959.80**|**3,959,818.00**|**49,091.12**|**4,086,868.92**|**_3,783,912.95_**|
SIGNED
Bryan Sanderson Trustee Inigo Woolf Trustee insert date
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **Notes to the financial statements**
## **Note 1 - Accounting basis**
These financial statements are prepared on a receipts and payments basis with the exception the inclusion of grants approved but not paid before the year end (Note 7) and the revaluation of investments to market value at the year end (Note 5).
## **Note 2 - Unrestricted Fund**
The Unrestricted Fund is divided into the Unrestricted General Fund and the Unrestricted Investment Fund. The latter is a long term investment fund and comprises the unrestricted investments of the Trust the income from which funds the Trust's principal grant-making activities. All the unrestricted income of the Trust, including the income from the investments in the Unrestricted Investment Fund, is credited to the Unrestricted General Fund, out of which the grants (other than grants from the Restricted Funds) and other outgoings are paid.
## **Note 3 - Restricted Funds**
The Restricted Funds comprise:
(a) the **Martindale Sidwell Memorial Fund** whose object is to establish a recital fund for young musicians, particularly those associated with Hampstead Parish Church; and
(b) the **Barney Rodgers Memorial Fund** which is for the benefit of the junior choir at Hampstead Parish Church but which, in the event that the junior choir is disbanded, may be used to support the music at Hampstead Parish Church.
|**_Martindale Sidwell_**
**_Barney Rodgers_**
**_Memorial Fund_**
**_Memorial Fund_**
**_£_**
**_£_**
**Balance 1 January 2023**
21,750.45
29,045.44
Incoming resources
981.38
1,316.43
Outgoing resources
(1,200.00)
(786.58)
Change in value of investments (Note 7)
(396.00)
(1,620.00)
**Balance 31 December 2023**
**21,135.83**
**27,955.29**
**Represented by:**
Investments at market value (Note 7)
16,471.00
24,773.00
Cash at bank and on deposit
4,664.83
3,182.29
**21,135.83**
**27,955.29**|**_Total_**
**_£_**
50,795.89
2,297.81
(1,986.58)
(2,016.00)|
|---|---|
||**49,091.12**
41,244.00
7,847.12
**49,091.12**|
## **Note 4 - Grants**
|Hampstead Parish Church
Hampstead Collective
Hampstead Community Choir
Hampstead Chamber Choir
St Mary the Virgin Church
Belsize Baroque Orchestral Society
Choir of the 21st Century
All Hallows w St Stephens Church
London Festival Contemporary Church Music
Heath Street Baptist Church
Sarum Consort
Unrestricted General Fund
Martindale Sidwell Memorial Fund
Barney Rodgers Memorial Fund|**_Unrestricted_**
**_Restricteed_**
**_Total_**
**_Total_**
**_General Fund_**
**_Funds_**
**_2023_**
**_2022_**
64,710
64,710
_58,418_
15,000
15,000
_20,000_
900
900
_2,000_
5,750
5,750
_1,400_
10,000
10,000
_10,000_
1,500
1,500
_-_
-
-
_1,650_
4,463
4,463
_-_
4,040
4,040
_1,320_
-
-
_3,000_
1,810
1,810
_-_
-
-
_-_|
|---|---|
||108,173
108,173
**_97,788_**
1,200
1,200
-
-
787
787
**_1,640_**|
||**108,173**
**1,987**
**110,159**
**_99,428_**|
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **Notes to the financial statements**
|**Note 5- Change in value of investments**
**Unrestricted**
M & G Charifund
Central Board of Finance of the Church of England:
Global Equity Fund
Investment Fund
Newton Growth & Income Fund for Charities
**Total Unrestricted**
**Restricted**
**The Martindale Sidwell Memorial Fund**
M & G Charifund
**The Barney Rodgers Memorial Fund**
CBF Property Fund
**Total Restricted**
**Note 6- Investments at cost**
**Unrestricted**
M & G Charifund income units
Central Board of Finance of the Church of England :
Global Equity Fund units
Investment Fund units
Newton Growth & Income Fund for Charities
**Restricted**
**The Martindale Sidwell Memorial Fund**
M & G Charifund income units
**The Barney Rodgers Memorial Fund**
Central Board of Finance of the Church of England :
Property Fund units
**Note 7- Liabilities**|**_Balance_**
**_Invested/_**
**_Gains/_**
**_Balance_**
**_1 January 2023_**
**_sold_**
**_losses 1 December 2023_**
**_£_**
**_£_**
**_£_**
**_£_**
162,661.00
-
(3,822.00)
158,839.00
734,311.00
-
109,443.00
843,754.00
1,099,426.00
-
103,438.00
1,202,864.00
1,656,614.00
-
97,747.00
1,754,361.00|**_Balance_**
**_Invested/_**
**_Gains/_**
**_Balance_**
**_1 January 2023_**
**_sold_**
**_losses 1 December 2023_**
**_£_**
**_£_**
**_£_**
**_£_**
162,661.00
-
(3,822.00)
158,839.00
734,311.00
-
109,443.00
843,754.00
1,099,426.00
-
103,438.00
1,202,864.00
1,656,614.00
-
97,747.00
1,754,361.00|
|---|---|---|
||**3,653,012.00**
**-**
**306,806.00**
**3,959,818.00**||
||16,867.00
-
(396.00)
16,471.00
26,393.00
-
(1,620.00)
24,773.00||
||**43,260.00**
**-**
**(2,016.00)**
**41,244.00**||
||**_No. of units_**
**No. of units**
**_Cost_**
1 January 2023
invested (sold)
31 December 2023
**_£_**
11,069.00
-
11,069.00
161,183.32
278,834.64
-
278,834.64
440,000.00
53,211.61
-
53,211.61
724,949.90
1,060,164.80
-
1,060,164.80
1,197,810.84
**2,523,944.06**
1,147.81
-
1,147.81
11,890.48
20,221.63
-
20,221.63
25,000.00
**36,890.48**||
|||**2,523,944.06**|
|||11,890.48
25,000.00|
|||**36,890.48**|
||||
The liabilities comprise grants approved but not paid before the year end.
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HAMPSTEAD CHURCH MUSIC TRUST (Charity no. 269427)**
I report to the Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023
## **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 for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility:
(a) to examine the accounts under section 145 of the Act,
(b) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act, and
(c) to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Statement**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the 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, and seeking explanations from 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 material matters have come to my attention which give me cause to believe that, in any material respect:
- (i) accounting records were not kept in accordance with section 130 of the Act or
- (ii) the accounts do not accord with the accounting records.
I have come across no other matters in conncetion with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Dee Thomas Date: 16 January 2024 Address: 5 Bingham Close Cirencester GL7 1BG
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE 12 MONTHS ENDED 31 DECEMBER 2023**
|**Incoming resources**
**Notes**
Donations
Tax recovered
Investment income
**Total incoming resources**
**Resources expended**
Administration
Grants
4
**Total resources expended**
**Net incoming resources for year**
Change in value of investments
5
**Net movement in funds**
**Balances at start of year**
**Balances carried forward at year end**|**Incoming resources**
**Notes**
Donations
Tax recovered
Investment income
**Total incoming resources**
**Resources expended**
Administration
Grants
4
**Total resources expended**
**Net incoming resources for year**
Change in value of investments
5
**Net movement in funds**
**Balances at start of year**
**Balances carried forward at year end**|**_Unrestricted_**
**_General Fund _**
**_£_**
70.00
17.50
105,968.52
**106,056.02**
28.78
108,172.50|**_Unrestricted_**
**_Investment Fund_**
**_£_**
-
-
-
**-**
-
-|**_Restricteed_**
**_Funds_**
**_£_**
-
-
2,297.81
**2,297.81**
-
1,986.58|**_Total_**
**_2023_**
**_£_**
70.00
17.50
108,266.33
**108,353.83**
28.78
110,159.08|**_Total_**
**_2022_**
**_£_**
_70.00_
_17.50_
_102,546.66_
**_102,634.16_**
_-_
_99,427.73_|
|---|---|---|---|---|---|---|
|||**108,201.28**
**(2,145.26)**
-|**-**
**-**
306,806.00|**1,986.58**
**311.23**
(2,016.00)|**110,187.86**
**(1,834.03)**
304,790.00|**_99,427.73_**
**_3,206.43_**
_(410,422.00)_|
|||**(2,145.26)**
**80,105.06**|**306,806.00**
**3,653,012.00**|**(1,704.77)**
**50,795.89**|**302,955.97**
**3,783,912.95**|**_(407,215.57)_**
**_4,191,128.52_**|
|||**77,959.80**|**3,959,818.00**|**49,091.12**|**4,086,868.92**|**_3,783,912.95_**|
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|||**_Unrestricted_**|**_Unrestricted_**|**_Restricteed_**|**_Total_**|**_Total_**|
|---|---|---|---|---|---|---|
||**Notes**|**_General Fund _**|**_Investment Fund_**|**_Funds_**|**_2023_**|**_2022_**|
|||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|Investments at market value|5,6||3,959,818.00|41,244.00|4,001,062.00|_3,696,272.00_|
|Cash at bank and on deposit||91,869.80|-|7,847.12|99,716.92|_103,080.95_|
|Total assets||91,869.80|3,959,818.00|49,091.12|4,100,778.92|_3,799,352.95_|
|less liabilities|7|13,910.00|-|-|13,910.00|_15,440.00_|
|**NET ASSETS**||**77,959.80**|**3,959,818.00**|**49,091.12**|**4,086,868.92**|**_3,783,912.95_**|
SIGNED
Bryan Sanderson Trustee Inigo Woolf Trustee insert date
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **Notes to the financial statements**
## **Note 1 - Accounting basis**
These financial statements are prepared on a receipts and payments basis with the exception the inclusion of grants approved but not paid before the year end (Note 7) and the revaluation of investments to market value at the year end (Note 5).
## **Note 2 - Unrestricted Fund**
The Unrestricted Fund is divided into the Unrestricted General Fund and the Unrestricted Investment Fund. The latter is a long term investment fund and comprises the unrestricted investments of the Trust the income from which funds the Trust's principal grant-making activities. All the unrestricted income of the Trust, including the income from the investments in the Unrestricted Investment Fund, is credited to the Unrestricted General Fund, out of which the grants (other than grants from the Restricted Funds) and other outgoings are paid.
## **Note 3 - Restricted Funds**
The Restricted Funds comprise:
(a) the **Martindale Sidwell Memorial Fund** whose object is to establish a recital fund for young musicians, particularly those associated with Hampstead Parish Church; and
(b) the **Barney Rodgers Memorial Fund** which is for the benefit of the junior choir at Hampstead Parish Church but which, in the event that the junior choir is disbanded, may be used to support the music at Hampstead Parish Church.
|**_Martindale Sidwell_**
**_Barney Rodgers_**
**_Memorial Fund_**
**_Memorial Fund_**
**_£_**
**_£_**
**Balance 1 January 2023**
21,750.45
29,045.44
Incoming resources
981.38
1,316.43
Outgoing resources
(1,200.00)
(786.58)
Change in value of investments (Note 7)
(396.00)
(1,620.00)
**Balance 31 December 2023**
**21,135.83**
**27,955.29**
**Represented by:**
Investments at market value (Note 7)
16,471.00
24,773.00
Cash at bank and on deposit
4,664.83
3,182.29
**21,135.83**
**27,955.29**|**_Total_**
**_£_**
50,795.89
2,297.81
(1,986.58)
(2,016.00)|
|---|---|
||**49,091.12**
41,244.00
7,847.12
**49,091.12**|
## **Note 4 - Grants**
|Hampstead Parish Church
Hampstead Collective
Hampstead Community Choir
Hampstead Chamber Choir
St Mary the Virgin Church
Belsize Baroque Orchestral Society
Choir of the 21st Century
All Hallows w St Stephens Church
London Festival Contemporary Church Music
Heath Street Baptist Church
Sarum Consort
Unrestricted General Fund
Martindale Sidwell Memorial Fund
Barney Rodgers Memorial Fund|**_Unrestricted_**
**_Restricteed_**
**_Total_**
**_Total_**
**_General Fund_**
**_Funds_**
**_2023_**
**_2022_**
64,710
64,710
_58,418_
15,000
15,000
_20,000_
900
900
_2,000_
5,750
5,750
_1,400_
10,000
10,000
_10,000_
1,500
1,500
_-_
-
-
_1,650_
4,463
4,463
_-_
4,040
4,040
_1,320_
-
-
_3,000_
1,810
1,810
_-_
-
-
_-_|
|---|---|
||108,173
108,173
**_97,788_**
1,200
1,200
-
-
787
787
**_1,640_**|
||**108,173**
**1,987**
**110,159**
**_99,428_**|
## **THE HAMPSTEAD CHURCH MUSIC TRUST**
## **Notes to the financial statements**
|**Note 5- Change in value of investments**
**Unrestricted**
M & G Charifund
Central Board of Finance of the Church of England:
Global Equity Fund
Investment Fund
Newton Growth & Income Fund for Charities
**Total Unrestricted**
**Restricted**
**The Martindale Sidwell Memorial Fund**
M & G Charifund
**The Barney Rodgers Memorial Fund**
CBF Property Fund
**Total Restricted**
**Note 6- Investments at cost**
**Unrestricted**
M & G Charifund income units
Central Board of Finance of the Church of England :
Global Equity Fund units
Investment Fund units
Newton Growth & Income Fund for Charities
**Restricted**
**The Martindale Sidwell Memorial Fund**
M & G Charifund income units
**The Barney Rodgers Memorial Fund**
Central Board of Finance of the Church of England :
Property Fund units
**Note 7- Liabilities**|**_Balance_**
**_Invested/_**
**_Gains/_**
**_Balance_**
**_1 January 2023_**
**_sold_**
**_losses 1 December 2023_**
**_£_**
**_£_**
**_£_**
**_£_**
162,661.00
-
(3,822.00)
158,839.00
734,311.00
-
109,443.00
843,754.00
1,099,426.00
-
103,438.00
1,202,864.00
1,656,614.00
-
97,747.00
1,754,361.00|**_Balance_**
**_Invested/_**
**_Gains/_**
**_Balance_**
**_1 January 2023_**
**_sold_**
**_losses 1 December 2023_**
**_£_**
**_£_**
**_£_**
**_£_**
162,661.00
-
(3,822.00)
158,839.00
734,311.00
-
109,443.00
843,754.00
1,099,426.00
-
103,438.00
1,202,864.00
1,656,614.00
-
97,747.00
1,754,361.00|
|---|---|---|
||**3,653,012.00**
**-**
**306,806.00**
**3,959,818.00**||
||16,867.00
-
(396.00)
16,471.00
26,393.00
-
(1,620.00)
24,773.00||
||**43,260.00**
**-**
**(2,016.00)**
**41,244.00**||
||**_No. of units_**
**No. of units**
**_Cost_**
1 January 2023
invested (sold)
31 December 2023
**_£_**
11,069.00
-
11,069.00
161,183.32
278,834.64
-
278,834.64
440,000.00
53,211.61
-
53,211.61
724,949.90
1,060,164.80
-
1,060,164.80
1,197,810.84
**2,523,944.06**
1,147.81
-
1,147.81
11,890.48
20,221.63
-
20,221.63
25,000.00
**36,890.48**||
|||**2,523,944.06**|
|||11,890.48
25,000.00|
|||**36,890.48**|
||||
The liabilities comprise grants approved but not paid before the year end.
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HAMPSTEAD CHURCH MUSIC TRUST (Charity no. 269427)**
I report to the Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023
## **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 for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility:
(a) to examine the accounts under section 145 of the Act,
(b) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act, and
(c) to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Statement**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the 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, and seeking explanations from 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 material matters have come to my attention which give me cause to believe that, in any material respect:
- (i) accounting records were not kept in accordance with section 130 of the Act or
- (ii) the accounts do not accord with the accounting records.
I have come across no other matters in conncetion with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Dee Thomas Date: 16 January 2024 Address: 5 Bingham Close Cirencester GL7 1BG