QUAKER TAPESTRY LIMITED
Flnanclal Statements and Annual Report
For the Year Ended
31 December 2024

QUAKER TAPESTRY LIMITED
FINANCIAL STATEMENTS
For The Year Ended 31 December 2024
CONTENTS
Report of the Directors and Trustees
Accountant's Report
Statement of Financi81 Activities
10-11
Balance Sheet
12-19
Notes to the Financial Statements

Quaker Tapestry Lirnited
Report of the Directors and Trustees
for the year ended 31 December 2024
The Directors of the charitable company, who are its Trustees for the purpose of charity law, are
pleased lo present their report togelher with the financial statements of the charity for the year ended
31 December 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
Quaker Tapestry Limited is a company limited by guarantee (each member's contribution not
exceeding £10) and is a registered charity. The company was first incorporated on 22 February 1994.
The name was changed from The Quaker Tapestry al Kendal Limited to Quaker Tapestry Limited in
2011 and revised Articles of Association approved in 2012.
Company Number..
Charity Registration Number-
2901085
1035077
Registered Office..
Friends Meeting House
Stramongate
KENDAL
Cumbria
LA9 4BH
Accountants..
Mitchinsons Accountants
22 Markel Place
KENDAL
Cumbria
LA9 4TN
Directors and Trustees
The company is run by the Directors who are also the Trustees and are referred throughout as such
The Trustees have the power lo appoint the necessary staff to assist them. The Trustees who have
served from 1 January 2024 unlil the day this report was approved were..
Lesley Janet Batchelor
Lindsay Grace Bullard
David Dilcham
Dr Andrew James Fincham
Glyn Hughes
Matthew John Kirk
Alan Price
Arthur George Willman Pritchard (until June 2024}
Isabella Rosner (from June 2024}
Esther Phoebe Rutler
Timothy John Yeomans
Clerk (Chair) Quaker Tapestry Ltd.. David Dilcham
Clerk (Chair) Planning and Finance Committee Matthew John Kirk

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng Document
Quaker Tapestry Limited is a charitable company limited by guarantee, governed by its Articles of
Association which were revised and approved by Companies House and the Charity Commission in
May 2012.
Recruitment and appointment of Trustees
Trustees are appointed by the Annual General Meeting each June on the nomination of a specially
appointed Search Group. Trustees serve for up to three years which may be renewed once, and
exceptionally for longer.
GENERAL BACKGROUND
The Quaker Tapestry began in 1981 in Somersel and over 4,000 people in 15 countries were involved
in making the 77 wool embroidered panels which portray the insights and experiences of Quakers
since the founding of the Quaker movement in 1652.
In 1992 the Quaker Tapestry at Kendal Appeal Fund was set up for the purpose of raising funds lo provide
for the housing and exhibition of the Quaker Tapestry. Monies from this appeal fund were used to finance
initial set-up costs prior lo incorporation. The Quaker Tapestry Exhibition was established in 1994 al Kendal
Friends Meeting House and this continues lo be its permanent base.
A separate charity, the Quaker Tapestry Collection Trust {Registration Number 295268) is the owner of
the embroidered panels and other museum objects and artefacts. Quaker Tapestry Limited leases
them, free of rent, so that they can be displayed for public benefit.
Kendal Friends Meeting House is leased from Friends Trusts Lirnited, acting as Landlords on behalf of
Kendal & Sedbergh Area Meeting of The Religious Society of Friends (Quakers). The Friends Meeting
House is a Grade 2. listed building completed in 1816.
**
OBJECTIVES
a) To advance education for public benefit by displaying, maintaining and protecting embroidered
hangings depictin9 Quakers, their worship and work in the world,
b) To advance the education of the public by leaching arts and crafls and in particular embroidery
and allied skills.

ACHIEVEMENTS AND PERFORMANCE
2024 was another busy year for the Quaker Tapestry Museum. The Museum welcomed 4824 visitors, which was
an increase in the number of visilors in 2023. The Quaker Tapestry Museum also saw an increase in school
groups and bookings for room hire.
George Fox's 400th birthday was celebrated throughoul 2024 and to
mark this occasion the museum opened a new special exhibition in
April, Sing and Rejoice.. George Fox, the English Civil Wars and the
Beginnings of Quakensm,. This exhibition was made possible thanks
to the generous donations lo the George Fox exhibition appeal at the
end of 2023 from our supporters.
2024 saw one of our most successful years for our Education
Programme. We had visits from over 300 local school students. We
love welcoming school groups from near and far, seeing them engage
with the Quaker Tapestry, learning about Quaker history and how
those beliefs have shaped our world today. The schools gave positive feedback about their visits, for example
"We learned more about the history of the Quaker movement and Quaker worship. Most importantly we learned
Sbout the diversity within Christianity and within the Quaker tradition itself. We were made to feel very welcome
and a huge thank you to the staff and volunteers that made our visit so rewarding.
A new Young Ambassador for Religious Education programme was officially launched on Friday, March 8 here at
the Quaker Tapestry Museum. The proj'ect was designed lo empower young people to have a voice in advocating
for the Freedom of Religion or Belief. The Quaker movement has a rich local hislory in terms of religious
expression, providing a 'powerful' example of how crucial the freedom of belief is. Quakers faced opposition and
persecution for their beliefs in the past. During the launch, the students worked together lo learn about the history
of Quakers, met members of the local Quaker community and started thinking about their role as Young
Ambassadors for Religious Education over the coming year.
The project will culminate in a visit to Westminster in 2025 to enable the Young Ambassadors lo debate matters
of religion and belief with policy makers at Westminster. The scheme is building upon the existing programme of
Young Ambassadors for RE, which focuses on giving children the space to show enthusiasm for the subject. This
new project is managed by AREIAC (the Association of RE Inspectors, Advisors and Consultants) and is funded
by Culham St Gabriel's Trust.
QUAKER VIGILS FOR PÉACÉ A
s part of the Museum's aim to continue engaging with a new and
diverse audience, 2024 saw both the Family Fun Day held in July
and Craft Fair held in November return for the second year
running. Both were again successful in increasing the awareness
of the Museum and bringing a new audience through the doors.
>r
fiEAR15'. PEOPL
The museum has continued to develop exclusive bespoke
products for the gift shop inspired by the Quaker Tapestry. In
2024 a new cross slitch kit based on the Quaker Peace Vigils
panel was introduced to compliment the other cross stitch designs
and embroidery kits. Our creative workshop programme has been
su￿sSfUl, and the range of activies has been extended.
p£p([

The Museum was awarded £4,000 through Museum Development North West's
•.A• Green Grants. This grant supported the installation of an air source heat pump
in the café area of the building to replace the broken and unusable gas boiler.
The change to an air source heat pump has helped the organisation to reduce
its reliance on gas and improved its energy efficiency.
Towards the end of 2024 the final retention for the roof project was paid after a
complelion sign off was received. We are very pleased to see the project to re-
roof the building successfully completed. This work was possible because of the
generous donations from individuals, Quaker Local and Area Meetings and grant
giving organisations. We are grateful to the National Churches Trust, Clark
foundation and Garfield Weston for their grants. We would also like lo thank our
past Trustee Ros Batchelor who worked tirelessly lo raise funds and make sure
this project was completed successfully. We continue to work closely with the
Kendal and Sedbergh Area Meeting to make sure that the building continues to be cared for and other areas that
need to be fixed are given attention.
Thank you to all the staff al the Quaker Tapestry Museum who have worked hard throughout 2024 to help the
museum grow and develop.
Trustees are also grateful for the support of volunteers, both those who have been with us a while and those who
have joined the team during 2024. Volunteers have supported visitor welcome, collection care. archiving
activities, school visits and much more. Volunteers are a vital part of the Museum's success and the Quaker
Tapestry team look forward to working with them more in 2025.
PUBLIC BENEFIT
The Trustees have had regard to the Charity Commission's guidance on public benefit published on 14
February 2014. The principal activity of the charitable company is the display and promotion of the
Quaker Tapestry lo the public. This fulfils the charitable objectives and achieves public benefil by use of
the art and embroidery of the tapestry panels lo make known Ihe work and witness of Quakerism. The
trustees and staff regularly review ways of making the tapestries available to the widest audience. The
level of entry fees to the exhibition have been sel bearing in mind the ability of people lo pay The staff
can reduce, or waive, fees for those who would otherwise be unable to benefit from the Quaker Tapestry.

FINANCIAL REVIEW
This has been a more difficult year for Quaker Tapestry's finances as, with the increases in costs and the absen
of significant legacies, the core deficit of running the Museum rose from around £31,000 in 2023 (of which £20,000
was covered by an increase in the value of investments) to around £80,000 in 2024. This is despite an increase in
visitor revenue and shop sales, and several successful grant applications for work on the collection and exhibitions.
As noted in the final section of this report, our (unrestricted) reserves have fallen significantly in 2024 and are below
our ideal minimum which is cause for concern and the Trustees are taking action in 2025.
Core revenue from admissions to the museum, the museum shop and online sales, workshops, short-term rentals
of the cottage {flat), the café and room hire was £90,446 against £88,272 in 2023. This increase was driven by
increased admissions revenue and room hire income, offset in part by lower income from the short-term rental of
the flat I cottage as we return this to Ihe management of Kendal and Sedbergh Area Meeting.
Core costs, so excluding property repairs and costs associated with delivering grant-funded projects, were up 9.90/0
or by just over £16,000 vs 2023, mainly in staff costs and increased marketing. We implemented the increase to the
Real Living Wage Foundation recommendation (59/0) for hourly-paid staff in January 2025.
In 2023 we received legacies and lifetirne gifts of £39,974 and unfortunately in 2024 we only received £695, though
we were made aware of 3 probable legacies in 2023 12024 which had not yet been finalized or paid out by 3181
December 2024 (one has since been paid in March 2025}.
We received specific support for the following areas in 2024, some of which carry￿ver from previous years..
AIM Collections RePack Fund
Audience Engagement Fund
Burtt Armitage Trust
Collection Care Fund
Community Connections Fund
Conserving Samplers Fund
Exhibition Renewal Fund
Quaker Marriage Exhibition Fund
Sampler Styles Exhibition Fund
These funds totalled £32,754 against an equivalent of £13,581 in 2023- great work by Naomi, Francesca and the
team in securing these funds. We appreciate the considerable effort involved in making applications and for
achieving such a high level of success, facilitating interesting new activities. We also appreciate the need to
continue to generate funds to cover core costs which have increased significantly over the last few years,
particularly staff costs and utilities.
MAJOR RISKS
The risks facing the charity are summarised in a risk register and subject to regular review at meetings of Trustees.
The Planning & Finance Committee has a standing agenda item of'any newly emerging risks?"
The highest risk factors continue lo be financial and relate to our need to generate adequate income through
aclivilies or from charitable sources, including raising funds for propety maintenance. Inadequate funds to manage
cash-flow and limited reserves are related risks.
We face increased, potentially permanently, operating costs, relating mostly to external inflalionary factors,
principally slaff costs and utilities. We are not alone in Ihe museum and charity sectors wilh regard to these factors.
Earned income is also affected by external economic factors, including the personal disposable income of potential
visitors. It is therefore important that we continue to monitor and manage finances carefully and where possible
apply for other funding. We are also planning to increase engagement, support and income from within the wider
Quaker communily in Britain, and see this as a potential ongoing source of income, reducing the dependency on
legacies

RESERVES POLICY
The Trustees annually re-assess the need for reserves after considering current risk factors and Charity
Commission guidance.
Our policy is that unrestricted funds should be held to provide sufficient cash-flow to sustain the operation through
seasonal and other fluctuations in earned income, grants and donations, to front-fund purchase of shop stock and
production of publications, to cope with emergency mainlenance, maintain a small building repairs fund and to
support a period of six months without income in the event of needing to close the exhibition.
Estimated core expenditure in 2024 was approximately £215,000. Based on this and other factors above, an
estimaled minimum reserve of £184,000 has been calculated. Al the end of 2024, the unrestricted funds held were
£154,615 (down from £216,886>, including tangible assets of £10,392 and held mainly in COIF investment units of
£159,951 (Dec 2024}. Some of the restricted funds are also held in the COIF investment units. Restricted funds
were at £55,916 at the end of 2024. and there is some limited potential to move funds from restricted to unresiricted
funds.
This level of reserves is now below our ideal reserve policy and Cause for concern. Based on this we are pursuing
ways to fund-raise core costs (unrestricted funds) and we are undergoing a strategic review in 2025 with all
Trustees.
DIRECTORS. AND TRUSTEES. RESPONSIBILITIES
The Directors and Trustees are required to prepare accounts for each financial year which give a true and fair
view of the state of affairs of the company as at the end of the financial year and of the surplus or deficit of the
company for that period. In preparing the accounts, the Directors and Trustees are required to:
a) select suitable accounling policies, apply them consistently and state them in the accounts.,
b) make judgements and estimates that are reasonable and prudent-
c) state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the accounts.,
d) prepare the accounts on a going concern basis and to indicate where they are not prepared on that basis,.
The Directors and Trustees are responsible for keeping proper books of account wilh respect to the company's
transactions and its assels and liabilities and for maintaining a satisfactory system of control over the company's
books of account and transactions. The Directors and Trustees 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.
SMALL COMPANY EXEMPTION
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Acl 2006
relating to small companies.
Signed on behalf of the Trustees:
itcham (Clerk (Chair) of Trustees)
Matthew Kirk (Clerk of Planning and Finance Committee

INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS
For The Year Ended 31 December 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
December 2024.
Responsibilities and basis of report
As the charities trustees and directors of the Company, you are responsible for the preparation of the
accounts in accordance with the requirements of the Companies Act 2006 {"the 2006 Act ).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part
16of
the 2006 Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out
my examination, I have
followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Indepèndent examlner'8 8tat•m•nt
l am qualified lo undertake the examination by being a qualified member of the ACCA.
I have completed my examination. I confirm that no material matters have come to my attention which gives
me cause to believe that:
accounting records were noi kepl in accordance with section 386 of the Companies Act 2006.. or
the accounls do not accord with such records., or
the accounts do not comply wilh relevant accounting requirements under section 396 of the
Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view
which is not a matter considered as part of an independent examination., or
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which
altention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Jonnifer Marshall FCCA
Mltchlnsons Accountants
22 Market Place
Kendal
Cumbrla
LA9 4TN

STATEMENT OF FINANCIAL ACTIVITIES
(Including Income and Expenditure Account)
For The Year Ended 31 December 2024
INCOME AND ENDOWMENTS
Notes
Unrostrlcted
Funds
Reslrlcted
Funds
Total
2024
Total
2023
Income from Charltable Activities
Admissions (Not GA)
17,505
17,505
13,599
17,505
17,505
13,599
Other Trading Actlvltles
Shop and Mail Order Sales
Room Hire Income
Café Licence
Café Overheads
Cottage Income
Workshop Fees
Car Park Income
Insurance Contribulion
Other Income
23,938
12,166
5,040
6.014
15.069
3,070
139
1,997
1,459
68,893
23,938
12.166
5,040
6,014
15.069
3.070
139
1,997
1,459
68,893
22,437
7,968
5,040
5,391
20.488
4,603
1,808
1,612
69,347
Donation8 and Legaclo8
Grants and Donations
Admissions (GA>
Area Meeting Conlribution
Legacies and Lifetime Gifts
15,435
7,504
5,350
695
28,984
46.877
62,311
7,504
5,350
695
75,861
47,095
8,746
4,900
39,974
100,715
46,877
Incom• from Investments
Interest and Dividends Received
6,658
6,658
7,562
TOTAL INCOME AND ENDOWMENTS
122,040
46,877
168,916
191,223
EXPENDITURE
Expendlture on Charltable Actlvltles
Exhibition Running Costs and
Maintenance
Cottage Expenses
Café Expenses
Support Costs
Accountancy Fees
34
788
10,458
2,266
92,431
3,100
108,289
10,458
2,266
111,744
3,100
127,602
11,488
1,090
96,055
3,750
113,171
19,313
21
19,313
Expenditure on Ralslng Funds
Direct Costs
Workshop Expenses
Support Costs
9,153
2,312
92,431
103,896
9,153
2.312
111,744
123,210
9,154
3,885
96,055
109,094
19,313
19,313
TOTAL EXPENDITURE
212.185
38,627
250,812
222,264
INCOME LESS EXPENDITURE
(90,145)
8,250
(81,896)
{31,041)

STATEMENT OF FINANCIAL ACTIVIES - continued
(Including Income and Expenditure Account)
For Th• Year Ended 31 December 2024
Notes
Unrestricted Restricted
Funds
Funds
Total
2024
Total
2023
Income less Expenditure BIFwd
(90,145)
8,250
(81,896)
(31,041)
Net Gainsl{Losses) on Investments
Unrealised gains/(losses)
10
4,553
4.553
20,606
Net Incomel(Expendltur•)
{85.593)
8,250
{77,343)
(10,435)
Transfèrs Between Funds
14&15
23,322
(23,322)
NET MOVEMENT IN FUNDS
(62,271)
(15,072)
(77,343)
(10,435)
R•concillatlon of Funds
Total Funds BIFwd
216,886
70,988
287,874
298,309
Total Funds CIFwd
154,615
55,916
210,531
287,874
There were no recognised gains or losses in the year other than those in the
Statement of Financial Activities
All incoming resources derive from continuing activities
The notes on pages 13 to 20 form part of these Financial Statements

BALANCE SHEET
31 December 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investment at valuation
10,392
159,951
170,343
11,132
230,398
241,530
10
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
10,427
17,026
25,400
52,853
12,746
7,540
54,258
74,544
12
CREDITORS
Amounts falling due within one year
13
(12,666)
(28,201)
NET CURRENT ASSETS
Total Assets Less Currant Llabllities
40,188
210,531
46,343
287,873
CREDITORS
Amounts falling due after more than one
year
PROVISIONS FOR LIABILITIES
NET ASSETS
210,531
287,873
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS
14
15
18
154,615
55,916
210,531
216,886
70,988
287,873
In approving these financial statements ss directors of the company we hereby confirm-
(al thal for the year stated above the company was entitled to the exemption conferred by
Section 477 of the Companies Act 2006,.
Ib} that no notice has been deposited at the registered office pursuant to Seclion 476
requesting that an audit be conducted for the year ended 31 December 2024., and
(¢) that we acknowledge our responsibilities for..
{1 } ensuring that the company keeps accounting records which comply wilh Section 386,. and
(2) preparing financial statements which give a true and fair view of the state of affairs of
the company as at the end of the financial year, and of its profit or loss for the year
then ended in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the provisions of the Companies Act relating to financial
stalements, so far as applicable lo the company.
10

BALANCE SHEET-
continued 31 December
2024
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to Ihe small companies. regime.
The financial statements have been approved by the Trustees on .
behalf by..
- and are signed on their
Matthew Kirk
(Clerk of Plannlng and Flnanc• Committee)
T?
Davld Dltcham (Clerk of Trustees)
The notes on pages 12 to 20 form parl of these Financial Statements

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024
Statulory Infomiation
Quak8r Tapestry Limited is a private company limited by guarantee. and a registered Charity, domiciled in
England and Wales. Its registered office is at Friends Meeting House, Stramongate, Kendal, LA9 4BH.
Compllance wlth Accountin9 Standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A for small
8ntities. There were no material departures from that standard.
Accountlng Policies
a) Accountlng Conventlon
The Financial Slalements have been prepared under Companies Act 2006, th8 Statement of Recommended
Practice on Accounting and Reporting by Charities (the Charities SORP) and comply with FRS 102 Section
1A for small entities.
bl Depreclatlon
Depreciation is provided on all tangible fixed assets at rates calculated to writs off the cost or
valuation. less residual value over its expected useful life, as follows:
Property Restoration and Refurt)ishment
over 21 years on a straight line
basis Cottag8 Propety Improvements
over 16 years on a slraighl line
basis
Café
Equipment, Fixtures & Fittings
Exhibition D8sign
Computer
Café Equipment
over 14 years on a straight line basis
200/0 p.a on th8 r8du¢ing balance
500/• p.a on th8 reducing balance
400/0 p.a on the reducing balanca
15/0 p.a on the reducing balance
cl Stocks
Stocks are ststed at the lower of cost and nel realisable value.
d) Incomlng Resourc•8
These are recognised In Ihe Statement of Flnancial Activities wh8n the charity becomés entitled
to the resources, the Trustees are virtually certain they will receive the resources and th8
monetary value can be recognised with sufficient reliabillty.
Income is shown net of any applicable Value Added Tax
Income tax recoverab18 on Gift Aid donations is only included in the Slatement of
Financial Activities when receivable.
Grants and donations are only included in the Statemenl of Financial Activities when the
charity has unconditional entitlement to the resources.
•) Expendlture
All expenditure is accounted for on an accruals basis. Expenditure is summarised under
functional headings either on a direct basis or for support costs apportioned according to an
estimate of usage both in time and nature.
fj Funds
Tho charity has various funds for which il is responsible and which require separale
disclosure. These are as follows..
Unrestncted funds.. These are funds that Gan be used at the discretion of the Trustees in
furtherance of the objects of the charity.
Restricted funds: These fvnds have arisen from grants, donations and legacies 8nd which have been
earmarked for specific purposes.
g} Investments
Fixed asset investments are initlally recognised at their trdnsaction value and are subsequently
measured at their fair value (market value) as at the balance sheet date. The Statement of
Financial Activities includ8S
the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares
are included in the Balance Sheet at the current market value quoted by the investment analyst,
excluding dividend. Further infomation on the Charity's investments can be found in note 10.
h} Penslon contrlbutlons
Employees of the charity are entitled to join the defined contribution pension scheme. Contributions payable lo the
penion scheme are charged to the Stalement of Financial Activities in the period to which they relate. Th8
ontributions are included within staff costs and disclosed in note 8.
12

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For Tha Year Ended 31 December 2024
GRANTS AND DONATIONS
2024
2023
Unrestricted Fund
General Donations
Membership Income
Gift Aid Tax Refund
Trust Appeal Grants and Donations
8,490
2,801
4.144
6.550
2.433
4.961
5,300
19,244
15,435
Restrlcted Funds
Building (Joint Repairs) Fund Income
Community Connections Initiative Income
Suslainable Improvement Fund Income
Collection Care Fund Income
Quaker Simplicity Fund Income
Wild Escape Fund Income
Warm Hub Fund Income
CPD Fund Income
Sampler Fund Income
George Fox Fund Income
Audience Engagement Fund Income
AIM Collections RePack Fund Income
Quaker Marriage Exhibition Fund Income
Exhibition Renewal Fund Income
Conserving Samplers Fund Income
Sampler Styles Exhibition Fund Income
13,938
736
4,865
861
5.000
3.190
500
3,000
30
1,000
6,190
3,215
2,050
6,840
185
2,000
2,135
3,929
3,030
2.035
10,000
46,877
27,851
TOTAL
62,312
47,095
NET INCOME OVER EXPENDITURE
This is stated after charging..
Depreciation
2,388
2,710
Lossl(profit} on disposal of tangible fixed assets
DIRECT COSTS
Opening stock
12,746
15.436
Purchases and other direct costs
Carriage and postage income
Carriage and postage expenses
6,992
(1,054)
895
19,580
6,419
45
21,900
Less..
Closing stock
(10,427)
9.153
(12,746)
9,154
13

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Ended 31 December 2024
SUPPORT COSTS
Not•s
2024
2023
Salaries
Pension Contributions
Cleaning and Caretaking Expenses
Travel Expenses
Repairs and Maintenance (equipment and maintenance)
Propety Repairs
Garden Expenses
Heat, Light and Power
Rates and water
Insurance
Telephone
Office Postage, Stationery and Maintenance
Advertising and Promotion
Fundraising Cosls
Event Expenses
Subscriptions
Training, Recruitment and Sundry
Bank and Credit Card Facility Charges
Depreciation
116,192
6,180
7,798
107,742
5,296
4,972
953
7.105
8.127
2,188
14,869
1,793
6,430
2,543
868
6,137
892
492
2,047
2,010
1.350
2,710
5,376
1,630
15,192
1,831
6,999
2,817
2,449
9,312
810
1,363
1,782
1,276
1,465
2,388
Fund Expens08
Roof Repairs Fund Expenses
Audio Guide Fund Expenses
Education Activities Fund Expenses
Sustainable Improvemenl Fund Expenses
Places of Science Fund Expenses
Quaker Simplicity Fund Expenses
Collection Care Fund Expenses
Wild Escape Fund Expenses
Warm Hub Fund Expenses
Audience Engagement Fund Expenses
CPD Fund Expenses
AIM Collections RePack Fund Expenses
George Cox Fund Expenses
Sampler Fund Expenses
Sampler Styles Exhibition Fund Expenses
20,940
1,325
860
503
3,036
2,200
3,734
700
3,450
1,557
22
40
308
732
10
815
2,354
9,450
176
223,489
192,109
Support Costs are allocated on a best estimate of the usage both in time and nalure and as
such an element ofjudgement has been applied.
Charitable Activities
Raising funds
111,744
111,744
223,489
96,055
96,055
192,109
14

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS- Contlnued
For The Year Ended 31 December 2024
STAFF COSTS
2024
2023
Wages and Salaries
Social Security Costs (net of employers allowance)
Pension Costs
113,754
2,438
6,180
122,372
105,924
1,818
5,296
113,038
The average number of full time equivalent employees was as
follows.. Charitable Activities
Raising Funds
The average number of employees during the year was 8 {2023
9). No employees received benefits in excess of £60,000 (2023
- £60,000),

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
For The Year Endèd 31 December 2024
10.
INVESTMENTS
2024
2023
COIF Charities Fixed Interest Fund - Income
Units Cost
'At 1 January 2024
Additions
Disposals
212,817
212,817
At 31 December 2024
143 799
212817
At Market Value
At 1 January 2024
Disposals
Unrealised gainslllosses)
At 31 December 2024
230,398
(75,000)
209.792
159 951
230 398
An element of unrestricted funds are held in the COIF Charities Ethical Investment Fund. The
holding forms a basic reserve in line with Charity Commission guidance and the organisation's
reserve policy (see Trustees, Report).
These units include part of the original core reserves established when the Charity became based
in Kendal in 1994.
A disposal of units occurred during the year for disposal proceeds of £75,000. These units carried
base cost of £69,018 resulling in a realised gain of £5,982.
11. STOCKS
Goods for Resale
Stocks include cost of goods for sale in the shop, via mail order and at external events. Perhaps
unusually compared to other museums, Quaker Tapestry is also a publishing body, so stocks
include Ihe cost of high quality publications, such as the Stitch Guild, Pictori81 Guide and
greetings cards which are produced in quantities and sold over several years.
Quaker Tapestry also creales ils own embroidery kits and other related products involving
bespoke fabrics and yarns. Older stock is usually sold at reduced prices in the shop or online,
rather than being written off. The reserves need to be adequate to front fund these publications
and purchases.
12. DEBTORS
Trade Debtors
6,956
4,696
Prepayments and Accrued Income
13. CREDITORS
Amounts Falling Due Within One Year:
Trade Creditors
Other Taxes and Social Security Costs
Accruals and Other Creditors
4,714
1,022
5,158
3,430
17

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
14. UNRESTRICTED FUNDS
2024
2023
Brought Forward
Transfer Be￿een Funds
Unrealised Gainsl(Lossesl
Net Incomel(Expenditure)
Carried Forward
216,886
23,322
4,553
{90,145)
154,615
234,583
7.004
20,606
(45,307)
216,886
Included in unrestricted funds is a designaled building reserve held to make a provision for Quaker
Tapeslry's contribution to future major repair Work. The reserve is currently £50,336 (2023 -
£50,336>
15. RESTRICTED FUNDS
Transfers
Between
Fund8
Brought
Forward
In¢omlng
Resources
Resourcgs
Expended
Carrled
Forward
Families and Education Fund
Roof Repairs Fund
Building (Joint Repairs) Fund
Community Connections Initiative 1,096
Openin9 Doors Fund
2,459
Fabric of Kendal Fund
1,000
Audio Guide Fund
171
Sustainable Improvement Fund 2,638
Places of Science Fund
35
Collection Care Fund
4,317
Audience Engagement Fund
Sampler Fund
George Fox Fund
CPD Fund
AIM Collections RePack Fund
Conserving Samplers Fund
Quaker Marriage Exhibition Fund
Sampler Styles Exhibition Fund
Exhibition Renewal Fund
2,596
46,579
2,596
25,639
20,940
13.938
736
(13.938)
(1,832)
(2,459)
(1,000)
(171)
(1,938)
(35)
700
2,050
2,000
6,840
185
3,450
732
9,450
2,354
10
815
2,917
{1,268)
6,190
3.215
692
3,580
1,046
(682)
2,135
2,035
3,929
10,000
3,030
1,320
2,035
3,929
9,824
3,030
176
70,988
46,877
38,627
(23,322)
55,916
Restricted funds are mostly grants and donations received lo support specific work. Related project
costs may contain an element of core costs, including staff time or regular building maintenance,
which are transferred during the year.
Restricted funds received during the year included a £4,000 Green Grant Fund which was used to
purchase a Heat Pump for the Café for £4,319. The £319 expense in excess of the grant has been
included as an addition in Tangible Fixed Assets. (Note 9)
16. SHARE CAPITAL
The company is limited by guarantee and does not have any share capital.
17. TAXATION
The company is a registered charity and has been exempted by HM Revenue & Customs
from Tax under S.505 (1 > {C) ICTA 1988.
18

QUAKER TAPESTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrfcted
Funds
Restrlcted
Funds
Fixed Assels
Current Assets
Current Liabilities
Long Term Liabilities
Provisions for Liabilities
170,343
(3,062)
(12,666)
55,916
154,615
55,916
19. LEASE OBLIGATIONS
Quaker Tapestry Limited leases Kendal Friends Meeting House from Friends Trust Ltd, acting as
landlords on behalf of Kendal & Sedbergh Area Meeting of the Religious Society of Friends
(Quakers). The annual lease is £1.
Quaker Tapestry is responsible for organising the regular maintenance of the Grade 2 building, built
in 1816. An associated management agreemenl with Kendal & Sedbergh Area Meeting reserves
some restricted use for Kendal Local Meeting and sets out arrangements forjointfunding of building
repair works.
20. TRANSACTIONS WITH TRUSTEES ANO RELATED PARTY TRANSACTIONS
The charity twstees were not paid for any services and did not receive any employment
income or benefits in the year {2023 £Nil).
The toial expenses reimbursed to trustees during the year relating to travel was £Nil (2023-
£Nill. There were no other relaied party transactions during the year.
21. INDEPENDENT EXAMINERS FEE
The total fees paid to Mitchinsons Accountants during the year consisted of the independent
examiners fee £2,500 (2023 - £2,500) and other advisory and payroll work tolalling £600 (2023
- £850).
19