QUAKER MENTAL HEALTH FUND (UK) (FORMERLY THE RETREAT YORK BENEVOLENT FUND) REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Charity No. 1115135
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Annual Report Auditor's Report statement of Financial Activities 10 Balance Sheet Statement of Cash Flows 12 Notes to the Accounts 13-19
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT The trustees present their annual report and audited financial statements for the year ended 31 December 2023. The financial statements comply with current statutory requirements, the charity's trust deed and the Statement of Recommended Practi - Accounting and Reporting by Charities SORP {FRS102) and have been prepared in accordance with the accounting policies set out in note 1 to the accounts. Trustees The trustees in the period and up to the date of signing this report were:_ Kathryn Parker (Appointed 2020) Alison Hay (Appointed 2021) Chloe West (Appointed 2022) Alexander Rhys (Appointed 2023) Susan Clodd (Appointed 2023) Penny Finch (Appointed 2023) Immediate Past Trustees Martin Edis (Resigned 2024) Principal office Wallingford Meeting House 13 Castle St, Wallingford OX10 8DL Advisers Investment Managers Quilter Cheviot 1 Kingsway Holborn London WC2B 6AN Auditors Myrus Smith Norman House 8 Burnell Road Sutton Surrey SM14BW
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- Gontinued Trust deed The fund was established in 1919 and first registered as a charity called The Retreat, Yor1( (operating as The Retreat Benevolent Fund) on 6 November 1963. Following the sealing of a Scheme dated 16 February 2006 by the Charity Commission, a new charity, The Retreat York Benevolent Fund was registered on 6 July 2006 and the Deed was written so as to have the same objectives and powers of the former charity which was wound up and removed from the register of charities on 7 November 2006. The assets and liabilities of the former charity were transferred to The Retreat York Benevolent Fund with effect from 1 August 2006. Since that date the original Scheme of the Charity Commission has been amended by a Scheme dated 23 August 2016, amended by a Scheme dated 21 August 2018, as amended by Resolution dated 13 September 2018, as amended by Resolution dated 8 January 2020 as amended on 13 July 2020. The charity also formally changed its name to the Quaker Mental Health Fund (UK) in 2021. Objectives and activities for the public benefit The object of the charity is, for the public benefit, the advanment of the mental health and well- being of beneficiaries and in particular, but without limitation, in the following order of priority. 1) to relieve sickness and promote and protect mental health by providing grants to beneficiaries who cannot afford the fees to be able to access care at either The Retreat York or other psychiatric hospitals in the UK., 2) to relieve sickness and promote and protect health, both mental and physical, of the beneficiaries by assisting in the provision of hospital treatments or home nursing for mental or physical illness, including from accidents,. 3) to promote and protect mental health by funding projects and initiatives which have a direct and demonstrable impact on beneficiaries. and 4) to promote and protect mental health by funding projects and initiatives that are led by Quakers and involve activities which are congruent with Quaker values andlor testimonies. The trustees confirm that they have referred to the guidance contained in the Charity Commissions, general guidance on public benefit when reviewing the Fund's aims and objectives and in planning future activities and setting the grant making policy for the year. Organisational structure The trustees meet every two months and conduct the majority of their meeting on line and aim to meet face to face twice a year. As an organisation promoting positive mental health, we recognise the importance of interaction and that the face to fa meetings give us the opportunity to build relationships between the trustees. As a UK wide charity, we try to meet in different parts of the UK and the venue is usually a Quaker venue. This year we had one of our face to face meetings at Claridge House in Surrey which is a beautiful peaceful place and who looked after us extremely well. The house was built in the mid-19th century and was acquired in 1954 by the Friends Fellowship of Healing. a Quaker body, for Friends to come and Convalesce and gain spiritual renewal and healing. We had a full compliment of trustees and all trustee give their time freely and no remuneration was paid in the year.
QUAKER MENTAL HEALTH FUND {UK) YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- continued Induction and training All trustees receive induction upon appointment to their respective roles. Trustees receive a copy of a range of documents including the Annual Report and Accounts and other governing documents. Training is provided on a variety of topics relevant to the work conducted by the Quaker Mental Health Fund (UK). Our work We have developed a robust risk register which we review on a regular basis. To promote the work of the Quaker Mental Health Fund we attended the Yearly meeting. This raised our profile and we also made valuable links to develop our aims. Investment powers and policy The charity looked to maximise the return in terms of both income and capital. The trustees have unrestricted powers of investment. As permitted by the charity's constitution, the trustees have given the investment managers discretion to manage the portfolio within an agreed risk profile. Activity and financial review Gross income for the year was £74,244 (2023.. £72,479). After net expenditure of £15,949 (2023.. £14,278) for costs of raising funds and charitable activities of £65,138 (2023: £30,498) net outgoing resourGes for the year amounted to £(6.843) (2023: incoming £27,703). When investment gains of £179,101 (2023: £184,869) are taken into account, the fund increased in value by £172,258 (2023:£212,572) leaving funds as at 31 December 2024 of £2,365,205 (2023: £2,192,947). Grants totalling £58,382 were made to 29 individuals and 5 Projects including The Retreat Short Term Therapy scheme. We have reviewed and consolidated our poliS so that they are relevant and proportionate to our organisation. These are reviewed on an annual basis. Our insurers were changed and our policies were added to and reviewed. Reserves policy The expendable endowment fund is maintained at a level to generate sufficient income to enable the charity to continue to make grants at the levels of expenditure anticipated. The Fund aims to spend income generated in the year in full. There are £116,038 (2022.. £74,057) of free reserves at the year end, due to the level of grants made during the year. It is the policy of the trustees not to hold free resenies.
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- continued Plans for future periods We will continue to develop our work on being an effective and efficient grant giving charity. We will continue to look at new ways to promote our grants for both individuals and projects. We also plan to develop our evaluation methods so that we can receive feedback to shape our future processes. Risk management The Trustees are responsible for reviewing major strategic, financial and operational risks to which the charity is exposed. The principal risks faced by the charity lie in the performance of investments and operational risks from ineffective grant making and the capacity of the charity to make effective grants. The Trustees consider variability of investment returns on the expendable endowment to constitute the charity's majorfinancial risk. This is mitigated by retaining expert investment advisors and having a diversified investment portfolio. The trustees manage the expendable endowment on a total retum basis and consider that the use of a total retum approach helps stabilise the resources available for grant making, thereby facilitating achievement of the charitable objectives. The risk of effective management of grants is mitigated by the involvement of all trustees in the setting of the grant making policy with control being further increased by all grants of a significant size requiring the consent of all trustees. Trustees, responsibilities statement The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2019 (FRS102)" make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation.
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT- continued The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the trustees on 15 October 2025 and is signed on their beha Alison Hay Clerk Quaker Mental Health Fund (UK) Wallingford Meeting House 13 Castle St, Wallingford OX10 8DL
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TOTHE TRUSTEES OFTHE QUAKER MENTAL HEALTH FUND (UK) Opinion We have audited the financial statements of The Quaker Mental Health Fund (UK) (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, (United Kingdom Generally Apted Accounting Practice) including FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. In our opinion, the financial statements- give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities underthose standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have Goncluded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The trustees are responsible for the other information. The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TOTHE TRUSTEES OFTHE QUAKER MENTAL HEALTH FUND (UK)- continued In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following rnatters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement set out on page 7, the trustees are responsible for the preparation of financial statements which give a true and fair view and for such internal control as the trustees determine is neSSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prOdureS in line with our responsibilities, outlined above, to detect material misstatements in
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORTTOTHETRUSTEES OFTHE QUAKER MENTAL HEALTH FUND (UK) - continued respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: Enquiry of management and those charged with governan about actual and potential litigation or claims and the identification of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Professional scepticism in course of the audit and with audit sampling in material audit areas. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud ratherthan error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of financial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do no accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Kevin Fisher BA FCA CTA (Senior Statutory Auditor) For and on behalf of: Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey KT6 7AL Date: 21st October 2025 Kingston Burrowes Audit Ltd is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Expendable Income Endowment Fund Fund 2024 Total 2023 Total INCOME FROM Note Donations and legacies 5,984 5,984 9,571 Income from investments 3d 67,941 67,941 62,576 Bank interest 319 319 332 Total income 74,244 74,244 72,479 EXPENDITURE ON Raising funds - investment management fees 15,949 15,949 14,278 Charitable activities 65,138 65,138 30,498 Total Expenditure 65,138 15,949 81,087 44,776 Net incomel(expenditure) before gains and losses on investments Net (loss)Igain on investments 9,106 (15,949) (6.843) 27,703 3e 179,101 179.101 184,869 Net income l (expenditure) for the year RECONCILIATION OF FUNDS 172,258 212,572 9,106 163,152 Total funds brought forward 116,038 2,076,909 2,192,947 1,980,375 Total funds carried foward 125,144 2,240,061 2,365,205 2,192,947 All amounts derive from continuing activities. All gains and losses recognised in the year are included in the Statement of Financial Activities 10
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET Notes 2024 2023 Fixed assets Investments 2.337,988 2,106,411 Totsl fixed assets 2,337,988 2,106,411 Current assets Debtors Cash at bank and on short term deposit 33,703 92,424 33,703 92,424 Liabilities Creditors: amounts falling due within one year Accrued charges (6.486) (5,888) Net current assets 27,217 86,536 Total assets 2,365,205 2,192,947 The funds of the charity Unrestricted income fund 125,144 116,038 Expendable endowment fund 2,240,061 2,076,909 Total charity funds 2,365,205 2,192,947 The financial statements on pages 10 to 19 were approved by the trustees on 15 October 2025 and are signed on their behalf by.. Alison Hay Trustee 11
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Note 2024 2023 Cash used in operating activities (74,505) (26,778) Cash flows from Investi ng activities Investment income received 68,260 62,908 Purchase of investments {167,156) (389,666) 349,840 Sale proceeds of investments 158,941 Cash provided by investing activities 60,045 23,082 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (14,460) 132,405 (3,696) 136,101 Cash and cash equivalents at the end of the year 117,945 132,405 12
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS Accounting policies (a) Basis of preparation and assessment of going concern The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis underthe historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Incoming Recognition Income is recognised when the charity is entitled to the income, receipt is considered probable and the amounts can be measured reliably. Donations are recognised when the charity has been notrfied of the amounts and the settlement date in writing, or, if earlier, when the donation is received. {c) Investment Income and Taxation Income from quoted and other securities is accounted for in the year it is re1vable and when it can be measured reliably by the fund. Income from deposits is accrued into the year for which it is due. Investment income includes all tax recoverable since the fund is not liable to tax on income that is used for charitable purposes. (d) Listed investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. (e) Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constwctive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis as a liability is incurred and has been classified under headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the expenditure heading for which it is incurred. 13
QUAKER MENTAL HEALTH FUND {UK) YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS- continued 1 Accounting policies (Continued) {fj Grants payable Grants payable are payments made to third parties in the furtherance of the charity's charitable objectives. Grants given in the form of providing fees for patients are included in the Statement of Financial Activities when the fee is payable. (g) Expendable endowment fund The expendable endowment fund comprises the net assets transferred from the former charity (The Retreat Benevolent Fund). At the trustees, discretion the expendable endowment fund rray be used to provide grants to patients of The Retreat York who are either Friends or are closely connected to Friends. They may also provide grants to Friends or those closely connected to Friends in respect of care provided by other providers. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. (h) Debtors Trade and other debtors are recognised at the settlernent amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. (i) 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. (i) Debtors and creditors The trust 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. (k) 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 nomially recognised at their settlement amount after allowing for any trade discounts due. {1> Contingent liabilities A Gontingent liability is identified and disclosed for those grants resulting from.. a possible obligation which will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees, control. or a present obligation following a grant offer where settlement is either not considered probable" or
the amount has not been communicated in the grant offer and that amount cannot be estimated reliably 14
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 2 SOFA Prior Year Comparatives STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Expendable Income Endowment Fund Fund 2023 Total 2022 Total INCOME FROM Note Donations 9,571 9,571 4,842 Income from investments 3d 62,576 62,576 61,847 Bank interest 332 332 Total income 72,479 72,479 66,733 EXPENDITURE ON Raising funds - investment management fees 14,278 14,278 14,564 Charitable activities 30,498 30,498 65,551 Total Expenditure 30,498 14,278 44,776 80,115 Net incomel(expenditure) before gains and losses on investments Net gains on investments 41.981 (14,278) 27,703 (13,382) 3e 184,869 184,869 (385,174) Net income l (expenditure) for the year RECONCILIATION OF FUNDS 41,981 170,591 212,572 (398,556) Total funds brought forward 74,057 1,906,318 1,980,375 2,378,931 Total funds carried forward 116,038 2,076,909 2,192,947 1,980,375 15
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 Investments 2024 2023 (al Movement in year at market value Listed Investments Market value at 1 January 2024 Acquisitions at cost 2,066,430 1,841,735 167,156 389,666 Disposals at book value Net gain on revaluation (130,056) 150,216 (356,469) 191,498 Market value at 31 December 2024 2,253,746 2,066,430 Investment cash 84,242 39,981 2,337,988 2,106,411 Historical cost of listed investments 1,864,655 1,782,968 (b) Reconciliation and movement in unrealised gains Unrealised gains at 1 January 2024 283,462 85,344 Addl(Less) in respect of disposals in the year (44,587) 6,620 Add net gains l (loss) arising on revaluations in the year 150,216 191,498 Unrealised gains at 31 December 2024 389,091 283,462 (c) Market value analysis Fixed Interest 370,463 344,074 UK Equities 485,531 482,547 Global Equities 1,162,867 957,128 Property 128,033 130,336 Altemative Investments 106,852 152,345 2,253,746 2,066,430 Cash 84,242 39,981 2,337,988 2,106,411 16
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 Investsnents - continued 2024 2023 (d) Investsnent income Listed Investments Listed securities 65,326 2,615 61,090 1,486 Cash deposits 67,941 62,576 (e) Net gain l (loss) on investments Realised gainl(loss) on disposals Unrealised gain for year 28,675 150,426 (6,629) 191,498 179,101 184,869 All of the gain in 2024 and 2023 is attributable to the Expendable Endowment fund Investment management fees Fees charged by Quilter 15,949 14,278 Reconciliation of net movement in funds to net cash flow from operating activities Net incoming reSoUrS for th& period (Deduct) net gain on investment assets Deduct investment income shown in investing activities 172,258 212,572 (179,101) (184,869) (67,941) (62,576) Deduct other interest income (319) (332) (Increase) I decrease in debtors 8,255 Increase in accrued charges 598 172 (74,505) (26,778) Analysis of cash and cash equivalents Cash in hand Cash awaiting investment 33.703 84,242 92,424 39,981 Total cash and cash equivalents 117,945 132,405 17
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 Charitable Activities 2024 2023 Grants Holyrood House Centre Family Survival Trust Friends of the Family Retreat Short Term Therapy Scheme Quaker Voices Individual Therapy Grants 10,000 9,952 5,000 1,040 9,000 23,390 5,000 1,560 1,750 17,155 58,382 25,465 MHDO Fees Total Direct Costs 58,382 25,465 Support Costs Marketing Website & IT Costs Legal Fees Bank Charges Insuran Meeting room hire Sundry Expenses Governan - Audit Fee Governance- Non-Audit Accountancy Fees Governance - Trustee Expenses 304 421 486 18 524 732 17 246 419 172 1,560 720 643 1,836 37 1.674 720 1,260 Total Support Costs 6,756 5,033 Total Charitable Activities Costs 65,138 30,498 All of the £65,138 expenditure recognised in the year (2023: £30,498) was charged to unrestricted funds. 18
QUAKER MENTAL HEALTH FUND (UK) YEAR ENDED 31 DECEMBER 2024 8 Debtors 2024 2023 Brokers income account Prepayments Creditors Amounts falling due within one year: Accruals 6,486 5,888 10 Trustees. expenses and remuneration Four Trustees were reimbursed for travel expenses totalling £1,260 (2023.. four Trustees £643) and no Trustee received any remuneration during the period. 11 Contingent liabilities Grants are recognised in the statement of financial activities when the charity becomes aware of an obligation. The trustees have authorised a further £24,406 for payment, which is not reflected in the accounts, as the criteria for recognition has not been satisfied. 12 Analysis of net assets between funds Unrestricted Funds Endowment Funds Total Analysis of net assets between funds - current year Fixed asset investments 97.927 2,240,061 2,337,988 Current assets 33,703 33,703 Current liabilities (6,486) (6,486) 125,144 2,240,061 2,365.205 Analysis of net assets between funds - prior year Fixed asset investments 29,502 2,076,909 2,106,411 Current assets 92,424 92,424 Current liabilities (5,888) (5,888) 116,038 2,076,909 2,192,947 19