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2022-12-31-accounts

Charity registration number 1134208

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SOUTHERN EAST ANGLIA QUAKER MEETING ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

OFFICE COPY PLEASE SIGN AND RETURN TO STREETS WHITTLES

STREETS

CHARTERED ACCOUNTANTS

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SOUTHERN EAST ANGLIA QUAKER MEETING

“ LEGAL AND ADMINISTRATIVE INFORMATION

OO Trustees Martin Rayner . Robert Parkes Jenny Kay Sylvia Jeffcock Elizabeth Prockter Charity number 1134208 ) Principal address Quaker Meeting House 6 Church Street Colchester Essex CO1 1NF Website address essexsuffolkquakers.org Independent examiner Michael Greene BSc FCCA Streets Whittles The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

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" SOUTHERN EAST ANGLIA QUAKER MEETING

"CONTENTS ce

Page
Trustees'report 1-3
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Statement of Trustees’ responsibilities 4
Independentexaminer'sreport 5
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Statement offinancial activities 6
Balance sheet 7
Notestothefinancialstatements 8-19

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SOUTHERN EAST ANGLIA QUAKER MEETING

" TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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The Trustees present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objective of Southern East Anglia Quaker Meeting remains the furtherance of the general religious purposes of The Religious Society of Friends (Quakers) in Britain, in the area covered by Southern East Anglia Quaker Meeting and beyond, as set out in the governing document. These purposes include the right holding of public Meetings for Worship and of Meetings for Church Affairs in the constituent Local Meetings. Membership for the year was 106.

Public Benefit and Activities During 2022 Meetings were recovering from the impact of Covid 19. Meetings for Worship took place in Clacton, Colchester, Earls Colne and Sudbury Meeting Houses every Sunday. Harwich continued to meet two weekly in a hired venue. In addition Colchester began to hold Meetings for Worship on Tuesday evenings. A faith representative at University of Essex has been appointed.

The Area Meeting for Worship on Zoom led by Colchester Quakers still continues to provide worshipful experience to those in the AM and beyond who are unable to attend in person. Monthly blended meetings for Worship continued at Colchester.

All of these Meetings were open to the public and provided opportunities for worship and spiritual growth, All Meetings have continued to experience an increase in new enquirers and attenders with applications for membership.

The Trustees have observed guidance issued by the Charity Commission on the nature of activities the charity should undertake. To support the governance of the Area-Meeting (AM) and its constituent Local Meetings (LMs), Quaker Meetings for Church Affairs were held in person and via Zoom. This included committees with responsibility for pastoral care; eldership; wardenship; premises and trusteeship. The governing document has been amended to allow trustees to make decisions via online media. All AM meetings for Church Affairs took place in Colchester Meeting House. The Friends holding AM roles found the opportunities to visit the other LM to take part in worship.

Some meetings and events, open to the AM were organised by an AM Group to develop spirituality and fellowship. The Area Meeting has provided financial support to enable both its members and attenders to attend training courses and conferences.

The monthly Newsletter, sent by email or post reports on the life of the AM and the websites disseminate information to the wider world. The policy of the AM continues to be that, when possible, rooms at all Meeting Houses are made available for hire to groups within the community, This provides a service to the community and contributes to community cohesion. At Sudbury, an agent manages the hirings and general maintenance in retumn for a fee.

The Area Meeting gave some financial support to causes in keeping with its charitable aims: a fund continues to be available to support refugees across Essex.

During the year Colchester Meeting House was managed by two employees, a manager anda caretaker. Essential work to renovate Colchester Meeting House continued. Work was carried out to improve the toilets, the foyer and flooring in the Parnell Room.

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SOUTHERN EAST ANGLIA QUAKER MEETING

Environmental Sustainability

Zoom continued to be used for business meetings at Trustee, AM and LM levels, reducing car use for participants.

Energy saving measures have been taken in Colchester Meeting House which include improved double glazing and insulation within the building. There are plans for fire-stopping barriers between the flat and the Meeting House.

Both Layer Breton and Roman Road Burial Grounds are maintained without the use of pesticides and beehives are kept in Roman Road. Sudbury garden and burial ground is maintained to maximise wild flowers and fruit trees in Earls Colne burial ground are flourishing.

Achievements and performance

Investments and other resources The Meeting continues to retain Rathbone Greenbank as discretionary investment managers and all investments are in ethically screened companies or funds. The balance in Rathbone's portfolio was £434,232 at year end. The investment policies have been kept under review reviewed and a withdrawal made during the year. The former Quaker meeting house at Coggeshall valued at £225,000 is leased to Essex County Council as a local library and the adjacent shed is rented to Coggeshall Parish Council. The self-contained flat at Clacton continues to be let ona tenancy agreement through an agent as does the flat at Colchester Meeting House.

Trustees consider that the present levels of financial assets may be reduced over the medium term to provide for building development without financial risk. This policy will continue to be reviewed regularly. The Meeting continues to exercise control over budgeting.

Financial review

Reserves In line with the existing reserves policy agreed in 2014, from unrestricted funds trustees have again designated reserves of: General operating costs for six months 50,000 Capital/Long Term Development Fund 50,000 Contingent employment liabilities 5,000 Designated Funds: Kendall & Freshfield Fund 54,635 Additional planned expenditure designated for 2023 Building costs 13,718 Refugee support 2,008 Total 175,361

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SOUTHERN EAST ANGLIA QUAKER MEETING

" TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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In 2022 our total income from all sources was £85,101. We spent £142,465, a difference of £57,364. The expenditure included the sum of £16,748 in donations made in keeping with charitable aims. The difference was funded out of reserves in line with the policy to use funds to maintain the properties and surplus funds to support the concerns of the AM. At the end of 2022 realisable assets stand at £1,745,504. This figure is made up of £1,386,000 relating to buildings owned by the Charity, investments of £434,232 held by the Charity and an unrestricted cash deficit after debtors and creditors of (£74,728). The Trustees believe the Charity will be well placed to meet all its liabilities in 2023, including existing commitments to identified concerns, The agreed renovation of Colchester Meeting House has yet to be fully costed.

As stated above, as assets fall, the Meeting is seeking greater control over its expenditure. In the meantime, the Trustees are satisfied that our assets are sufficient to cover all contingencies. Risks Trustees have systematically assessed the risks as suggested in current Charity Commission guidelines and those of the Religious Society of Friends and are now satisfied that systems or procedures are established in order to manage those risks. We will continue to keep the risk assessment under review.

| Structure, governance and management The charity was registered with The Charity Commission in February 2010 under charity Number 1134208 and is formed and governed in accordance with Quaker practice, as laid down in Chapter 4 of Quaker Faith and Practice, | andLocal our Meetings governing& documents) at Clacton, adoptedColchester, in 2007Earls by minuteColne, 2007 Harwich/74. Southern and Sudbury. EastTy Anglia Quaker Meeting. is made of ! Trustees are appointed by the Area Meeting (AM). We aim to provide all trustees with guidance on their duties . upon appointment, and they are encouraged to attend training with Wocdbrooke Quaker Study Centre. The trustees serving in the year were: Martin Rayner Robert Parkes | Jenny Kay : Sylvia Jeffcock Elizabeth Prockter J Herd (Appointed 1 January 2023 and resigned 1 March 2023)

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On behalf of all. the Trustees Ca. tracklor. Jenny Kay , Elizabeth Prockter Trustee Trustee

29 June 2023

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SOUTHERN EAST ANGLIA QUAKER MEETING

: STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022

a The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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.

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SOUTHERN EAST ANGLIA QUAKER MEETING

"INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SOUTHERN EAST ANGLIA QUAKER MEETING

I report to the Trustees on my examination of the financial statements of Southern East Anglia Quaker Meeting (the charity) for the year ended 31 December 2022. .

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Ihave no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

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Ch id FCCA
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Streets Whittles The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

: Dated: 29 June 2023

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. SOUTHERN EAST ANGLIA QUAKER MEETING

STATEMENT OF FINANCIAL ACTIVITIES . INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

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Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
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‘funds
funds
funds
funds
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2022
2022
2022
2021
2021
2021
Notes
£
£
£
£
£
£|||||||||| |Income from:|||||||||| |Contributions,|||||:||||| |donations and|||||||||| |legaciesreceived
Propertyincome|3
4|24,457
52,867|-
-|24,457
52,867|43,752
35,690|||-
-|43,752
35,690|| |Investmentincome|5|7,0TT|-|7,077|7,106||.|7,106|| |Totalincome||85,101|-|85,101|86,548||-|86,548|:| ||||||||||.| |Expenditure on:|||||||||| |Fundraising|||||||||| |Investment|||||||||| |management||4,788|-|4,788|5,384||-|5,384|| |Charitable activities|||||||||| |Bursaries|6|2,608|5,090|7,698|2,082||7,264|9,346|| |Donations and|||||||||| |contributions|6|16,748|-|16,748|7,744||-|7,744|| |Propertyrunning
costs
Otherpropertycosts|6
6|101,089
9,206|-
-|101,089
9,206|82,286
7,629||-
-|82,286
7,629|| |Conferences|6|2,936|-|2,936|2,023||-|2,023|| |Total charitable|||||||||| |expenditure||132,587|5,090|137,677|101,764||7,264|109,028|| |Totalexpenditure||137,375|5,090|142,465|107,148||7,264|114,412|| |Netgains/(losses)
oninvestments|10|(71,993)|-|(71,993)|42,723||-|42,723|| |Netmovementinfunds||(124,267)|(5,090)|(129,357)|22,123||(7,264)|14,859|| |Fundbalances at 1January
2022||1,869,771|114,817|1,984,588|1,847,647||122,082|1,969,729|| |Fundbalances at 31|||||||||| |December2022||1,745,504|109,727|1,855,231|1,869,770||114,818|1,984,588||

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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° BALANCE SHEET

SOUTHERN EAST ANGLIA QUAKER MEETING

AS AT 31 DECEMBER 2022

AS AT 31AT 3131 DECEMBER 2022 AS AT 31AT 3131 DECEMBER 2022 AS AT 31AT 3131 DECEMBER 2022 AS AT 31AT 3131 DECEMBER 2022 AS AT 31AT 3131 DECEMBER 2022 AS AT 31AT 3131 DECEMBER 2022
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2022 2021
Notes £ £ £ £
Fixed assets
Tangibleassets
Investment property		 2
13		 1,161,000
225,000		 1,161,000
225,000
1,386,000 1,386,000
Current assets
Debtors
Investments
Cash atbankandinhand		 14
15		 1,374
434,232
39,944		 7,387
543,377
51,206
475,550 601,970
Creditors: amounts fallingduewithin
oneyear		 16 (6,319) (3,382)
Netcurrentassets 469,231 , 598,588
Totalassetslesscurrentliabilities 1,855,231 1,984,588
Income funds
Restrictedfunds		 17 109,727 114,818
Unrestricted funds
Designatedfunds
Generalunrestrictedfunds		 18 175,361
51,111		 214,694
136,044
Revaluationreserve 1,519,032 1,519,032
. 1,745,504 1,869,770
1,855,231 1,984,588

The financial statements were approved by the Trustees on 29 June 2023

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demusfer Kag E a. {rocker+re —_
Jenny Kay Elizabeth Prockter
Trustee Trustee
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, NOTES TO THE FINANCIAL STATEMENTS

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SOUTHERN EAST ANGLIA QUAKER MEETING

FOR THE YEAR ENDED 31 DECEMBER 2022

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1 Accounting policies

Charity information Southern East Anglia Quaker Meeting is a charity registered with the Charity Commission under registration ~ number 1134208, and is governed in accordance with normal Quaker practice, as laid down in Chapter 4 of Quaker Faith and Practice, and the governing document adopted on 9 September 2007 by Minute 2007/74.

  1. Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. not to prepare a Statement of Cash Flows. to prepare a Statement of Cash Flows. prepare a Statement of Cash Flows. Statement of Cash Flows. of Cash Flows. Cash Flows. Flows.

| 1 not to prepare a Statement of Cash Flows. not to prepare a Statement of Cash Flows. to prepare a Statement of Cash Flows. prepare a Statement of Cash Flows. Statement of Cash Flows. of Cash Flows. Cash Flows. Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. | The financial statements have been prepared under the historical cost convention, [modified to include the : revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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13 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

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14 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gitt Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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SOUTHERN EAST ANGLIA QUAKER MEETING

, NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

a 1Accounting policies (Continued)

1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

These are recognised in the period in which they are incurred. Resources expended include VAT which cannot be recovered. Management and administration comprises costs for the day to day running of the Charity itself as an organisation.

Properties are included in the balance sheet at an in use valuation, on which no depreciation is charged.

Land and buildings No depreciation provided

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

| ! : NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

SOUTHERN EAST ANGLIA QUAKER MEETING

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FOR THE YEAR ENDED 31 DECEMBER 2022

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2Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Contributions, donations and legacies received

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||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2022|2021| |£|£| |Donations and gifts|157|19,752| |Contributions|24,300|24,000| |24,457|43,752| |Property income income| |Unrestricted|Unrestricted| |funds|funds| |2022|2021| |&|E£| |Rent and Hiring Receivable|.|52,867|35,690|

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SOUTHERN EAST ANGLIA QUAKER MEETING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

ne . 5 Investment income

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Incomefromlistedinvestments 6,594 5,988
Interestreceivable 1,183 1,118
7¢0t 7,106

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SOUTHERN EAST ANGLIA QUAKER MEETING

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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6 Charitable activities

Bursaries §Donations
and
contributions		 Property
running
costs		 Other
property
costs		 Conferences Total Total
2022
£		 2022
£		 2022
£		 2022
£		 2022
£		 2022
£		 2021
£
Unrestricted
expenditure - 10,100 98,481 6,598 330 115,509 86,353
Restricted
expenditure 5,090 - - - - 5,090 7,264
Other
expenditure
(unrestricted)		 - 4,040 - - - 4,040 5,000
5,090 14,140 98,481 6,598 330 124,639 98,617
Share of
governance
costs (see note
7)		 2,608 2,608 2,608 2,608 2,606 ;
13,038		 10,411
7,698 16,748 101,089 9,206 2,536 137,677 109,028
Analysis
byfund
Unrestricted
funds 2,608 16,748 101,089 9,206 2,936 132,587 101,764
Restricted
funds 5,090 - - - - 5,090 7,264
7,698 16,748 101,089 9,206 2,936 137,677 109,028

Costs are allocated to charitable activities on the basis of the expenditure actually incurred by the activity. Governance costs have been apportioned equally between charitable activities. Governance costs paid from restricted funds attributable to a charitable activity are allocated on an actual basis.

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SOUTHERN EAST ANGLIA QUAKER MEETING

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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6 Charitable activities For the year ended 31 December 2021

(Continued)

Bursaries Donations
and
contributions		 Property
running
costs		 Other
property
costs		 Conferences Total
2021
£ £ £ £ £ £
Unrestrictedexpenditure - 662 80,203 5,047 (59} 86,353
Restrictedexpenditure 7,264 - - - - 7,264
Otherexpenditure
(unrestricted)		 - 5,000 - - - . 5,000
7,264 5,662 80,203 5,947 (59) 98,617
Share ofgovernance costs
{seenote 7)		 2,082 2,082 2,083 2,082 2,082 10,411
9,346 7,744 82,286 7,629 2,023 109,028
Analysis byfund
Unrestricted funds
Restrictedfunds		 2,082
7,264		 7,744
-		 82,286
-		 7,629
-		 2,023
-		 101,764
7,264
9,346 7,744 82,286 7,629 2,023 109,028

Costs are allocated to charitable activities on the basis of the expenditure actually incurred by the activity. Governance costs have been apportioned equally between charitable activities. Governance costs paid from restricted funds attributable to a charitable activity are allocated on an actual basis.

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7 Support costs

Supportcosts
Supportcosts Governance 2022 2021
costs
£ £ £ £
Legalandprofessional
Officers' expensesandsupplies		 -
-		 12,249
789		 12,249
789		 10,310
101
- 13,038 13,038 10,411
Analysed between
Charitableactivities		 - 13,038 13,038 10,411

Legal and professional fees includes a charge relating to the independent examination of the accounts of £3,360 (2021: £3,200).

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SOUTHERN EAST ANGLIA QUAKER MEETING

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022 a 8Trustees , None of the Trustees (or any persons connected with them) received any remuneration during the year. Trustees are reimbursed for travel costs incurred and claimed when attending meetings of the charity. The total expenses reimbursed in the year was £42 (2021: £96).

9 Employees

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|||| |---|---|---| |The average monthly number of employees during the year was:|2022|2021| |:|Number|Number| |Wardens|1|1| |Caretaker|1|-| |Total|2|1| |,|

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There were no employees whose annual remuneration was more than £60,000,

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10 Net gains/(losses) on investments

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|||| |---|---|---| |Unrestricted|Unrestricted| |funds|funds| |:|2022|2021| |£|£| |Revaluation of investments|(71,993)|42,723|

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11 =Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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SOUTHERN EAST ANGLIA QUAKER MEETING

° NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ,

FOR THE YEAR ENDED 31 DECEMBER 2022

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12 Tangible fixed assets

Land and buildings £

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Cost orvaluation
At1January 2022 1,161,000
At31December2022 1,161,000
Carryingamount
At31December2022 : 1,161,000
At31December2021 1,161,000

There are four properties in current use as places of worship and they are located in Colchester, Clacton-onSea, Sudbury and Earls Colne. The properties in Colchester and Earls Colne, along with the two burial grounds, were revalued in 2011, the property in Clacton-on-Sea was revalued in 2012 and the property in Sudbury in 2013.

The revaluations were carried out on an in use basis by a firm of independent Chartered Surveyors, Fenn Wright.

The Trustees do not believe that the fair value of the fixed assets has materially changed in the terms of the net assets of the charity and so do not propose to instruct further valuations.

At 31 December 2022, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been £nil (2021: £nil) ;

13. Investment property

: 2022£ Fair value At 1 January 2022 and 31 December 2022 225,000

Investment property represents the former Coggeshall Meeting House which is leased to Essex County Council as a branch library. The fair value of the investment property has been arrived at on the basis of a valuation carried out in March 2019 for accountancy purposes by an independent professionally qualified valuer. The valuation was made on the basis of capital and rental values of the property. The trustees do not believe that the fair value of the investment property has materially changed in the terms of the net assets of the charity and so do not propose to instruct further valuations.

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SOUTHERN EAST ANGLIA QUAKER MEETING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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||||| |---|---|---|---| |14|Debtors| |.|2022|2021| |Amounts|falling due within one year:|£|£| |Prepayments and accrued income|1,374|7,387| |)| |15|Current|asset|investments| |2022|2021| |£|£| |Listed investments|434,232|543,377|

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|||||| |---|---|---|---|---| |Current asset investments|are composed|of listed|stocks and shares which are stated|at market value together| |with cash held for trading purposes. The historic cost|of the stocks and shares element held at the year end|is| |£343,734|(2021;|£350,744).| |16|Creditors: amounts falling due within one year|2022|2021| |£|£| |Other taxation and|social security|323|282| |Accruals and deferred income|5,996|3,100| |6,319|3,382|

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SOUTHERN EAST ANGLIA QUAKER MEETING

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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17 —‘ Restricted funds

The restricted funds of the charity comprise the following unexpended balances of donations and grants held on trust for specific purposes:

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1January Balanceat
January2021		 Resources
Balanceat
expended 1January2022		 Resources
Balanceat
expended 1January2022		 Resources
expended		 Balanceat
31December
2022
£ £ £ £ £
JohnSavagelegacy
JackFieldsTrustlegacy
TonyWheelerlegacy
Burialground
OtherSudburyLegacies		 , 40,083
18,612
54,750
7,037
1,100		 -
(7,264)
-
-
-		 40,083
11,347
54,750
. 7,537
1,100		 -
(5,090)
-
-
-		 40,083
6,257
54,750
7,537
1,100
122,082 (7,264) 114,817 (5,090) 109,727

The John Savage legacy and the Tony Wheeler legacy are restricted for use by the Sudbury LM.

The Jack Fields Trust legacy was left to Colchester LM for the educational purposes of members and attendees, but has since been authorised for the benefit of the Area Meeting.

The Burial Ground fund arose from the sale of one of the AM burial grounds and is restricted for use on maintenance of the remaining grounds.

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SOUTHERN EAST ANGLIA QUAKER MEETING

. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) . FOR THE YEAR ENDED 31 DECEMBER 2022

a

18 Designated funds

;

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement infunds Movement infunds
Balance at
1January2021		 Resources
Balanceat
expended 1January2022		 Incoming
resources		 Resources
expended		 Balanceat
31December
2022
: £ £ Ei £ £ £
The Kendall & Freshfield
DesignatedFund 54,635 - 54,635 - - 54,635
General operating costs 50,000 - 50,600 - - 50,000
Capital/LongTerm
DevelopmentFund		 50,000 - 50,000 - - 50,000
Contingentemployment
liabilities
Buildings costs
Refugeesupport		 5,000
68,918
3,048		 -
(16,907)
-		 5,000
52,011
3,048		 -
1,053
3,000		 -
(39,346)
(4,040)		 5,000
13,718
2,008
Contribution toBYM - - - 10,000 (10,000) -
Colchester foodbank 5,000 (5,000) - - - -
236,601 (21,907) 214,694 14,053 (53,386) 175,361

The Kendall and Freshfield Designated Fund is for educational purposes in anticipation of the disappearance of the Jack Fields Restricted Fund.

It is the policy of the meeting to set aside general operating costs amounting to 6 months worth of expenditure to allow continuation of the Meeting in the event of unforeseen circumstances.

The Capital/Long Term Development Fund is intended to form the starting point for any unforeseen capital expenditure that SEAQM may incur, either in terms of risk management or establishing new meetings in response to changing demographics of the local Quaker population.

The contingent employment liabilities fund is intended to meet any future potential costs arising from employee redundancy or subcontractor termination payments that may be necessary.

The buildings costs fund is intended to meet the costs of maintaining/ repairing the buildings owned by the Meeting to ensure good stewardship of its buildings. ,

The Refugee support fund provides aid to Syrian refugees as need arises.

The Colchester foodbank fund provides aid to people experiencing food poverty.

As members of Britain Yearly Meeting (BYM), a contribution is made to their running costs and to their charitable work.

ee

. SOUTHERN EAST ANGLIA QUAKER MEETING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

;

a

19 Analysis ofnetassets betweenfunds
Unrestricted		 Restricted Total Unrestricted Restricted Total
funds
2022
£		 funds
2022
£		 2022
&		 funds
2021
£		 funds
2021
£		 2021
£
Fund balances at 31
December 2022 are
representedby:
Tangibleassets
Investmentproperties		 1,161,000
225,000		 -
-		 1,161,000
225,000		 1,161,000
225,000		 -
-		 1,161,000
225,000
Current
assets/(liabilities)		 359,504 109,727 469,231 483,770 114,818 598,588
1,745,504 109,727 1,855,231 1,869,770 114,818 1,984,588

20 Operating lease commitments Lessor One of the charity's properties is held for rental purposes (see note 13). Rental income is due under the lease of £10,750 per year and the tenant is committed for less than one year. All operating lease contracts contain market review clauses in the event that the lessee exercises its option to renew. The lessee does not have an option to purchase the property at the expiry of the lease period.

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:the reporting end date the charity had contracted with tenants for the following minimum lease payments:reporting end date the charity had contracted with tenants for the following minimum lease payments:end date the charity had contracted with tenants for the following minimum lease payments:date the charity had contracted with tenants for the following minimum lease payments:the charity had contracted with tenants for the following minimum lease payments:charity had contracted with tenants for the following minimum lease payments:had contracted with tenants for the following minimum lease payments:contracted with tenants for the following minimum lease payments:with tenants for the following minimum lease payments:tenants for the following minimum lease payments: At the reporting end date the charity had contracted with tenants for the following minimum lease payments:the reporting end date the charity had contracted with tenants for the following minimum lease payments:reporting end date the charity had contracted with tenants for the following minimum lease payments:end date the charity had contracted with tenants for the following minimum lease payments:date the charity had contracted with tenants for the following minimum lease payments:the charity had contracted with tenants for the following minimum lease payments:charity had contracted with tenants for the following minimum lease payments:had contracted with tenants for the following minimum lease payments:contracted with tenants for the following minimum lease payments:with tenants for the following minimum lease payments:tenants for the following minimum lease payments:for the following minimum lease payments:the following minimum lease payments:following minimum lease payments:minimum lease payments:lease payments:payments: At the reporting end date the charity had contracted with tenants for the following minimum lease payments:the reporting end date the charity had contracted with tenants for the following minimum lease payments:reporting end date the charity had contracted with tenants for the following minimum lease payments:end date the charity had contracted with tenants for the following minimum lease payments:date the charity had contracted with tenants for the following minimum lease payments:the charity had contracted with tenants for the following minimum lease payments:charity had contracted with tenants for the following minimum lease payments:had contracted with tenants for the following minimum lease payments:contracted with tenants for the following minimum lease payments:with tenants for the following minimum lease payments:tenants for the following minimum lease payments:for the following minimum lease payments:the following minimum lease payments:following minimum lease payments:minimum lease payments:lease payments:payments:
2022 2021
£ £
Withinoneyear
Betweentwoand fiveyears		 10,750
8,063		 10,750
18,813
18,813 29,563
  1. ~=—-‘Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

The charity has no disclosure to make regarding related party transactions.

a -19‘